Iraqi Currency Restructuring- Development of Coins

[Gmoney8660]

Iraqi Currency Restructuring- Development of Coins

04/08/2011 - 3:13 pm

Iraqi Central Bank has decided to begin local currency restructuring and developing of local currency coins in cooperation with world international organizations and economists .

The deputy of Central Bank Governor Modhr Mohammed Saleh, announced Thursday in a statement that Forat TV received a copy of it that the central bank agreed with the Governmental financial institutions on currency restructuring, organization and development of coins .

"Also,the central bank decided to introduce a metal coins next three months, which will be of class 1000 dinars and 500 dinars .

http://www.alforattv.net/en/index.php?show=news&action=article&id=535

Information with alink to the website Hows this for a Newbie!!!!!!!!

[hammer911]

Great first artical newbie... The link even works...lol...This is good info..thanks...GO RV!!!~~~

[pontiyak]

"Also,the central bank decided to introduce a metal coins next three months, which will be of class 1000 dinars and 500 dinars . "

Although there is only one line here....

I hope you can read between it..

There is a wealth of info contained within.

Thanks for the post.

The best things in life RV

yak

[Carrello]

"Also,the central bank decided to introduce a metal coins next three months, which will be of class 1000 dinars and 500 dinars . "

Although there is only one line here....

I hope you can read between it..

There is a wealth of info contained within.

Thanks for the post.

The best things in life RV

yak

Yak, please share your one-liner thoughts. No LOP comes to mind.

Edited September 7, 2011 by Carrello

[Ridewithme38]

i hate to see such high value coins being released...it means we still have a long long wait till the RD

[DinarDana]

Yak, please share your one-liner thoughts.

All I know is if the rate does not change, I personally would not want to be carrying around bags of coins and stacks of bills. If I was a woman in Iraq I would need a VERY big purse to shop.

[leola]

--------------- DD,,,If you were a woman in iraq ,you would have a large hairy man carrying the money!!!!! tsk

[DinarDana]

--------------- DD,,,If you were a woman in iraq ,you would have a large hairy man carrying the money!!!!! tsk

Could I choose a camel instead???

[RVDinar4MyFamily]

Release of coins of this denomination would point directly to a RD, this would allow them to use the coins for 1000 dinar and a simple change to the die to make the same coin read 1 dinar and both would be worth the same amount. This would not be a good thing, and would most likely point directly to RD. I have stated it before and I will say it again...No matter what, every article put out about the zeros will point to RD, they have to. If they were to come out and show in any way shape of form that this is going to be a RV, the speculation would be so great, that it would bankrupt the country. This is the only place where the smoke and mirrors concept would and shoud be used by the CBI and they are damn good at it.

[Ridewithme38]

All I know is if the rate does not change, I personally would not want to be carrying around bags of coins and stacks of bills. If I was a woman in Iraq I would need a VERY big purse to shop.

Do you carry around 50's or 100's now? Most ATM's around me give everything out in quantities of $20

So lets break down the current Iraqi currency vs the Current us dollars

25,000 dinar = $21.37 = about $20

10,000 dinar = $8.55 = about $10

5,000 dinar = $4.27 = about $5

1,000 dinar = $0.85 = about $1

500 dinar = $0.43 = about 50 cents

250 dinar = $0.21 = about 25 cents

50 dinar = $0.04 = about 5 cents

So as you can see...as an Iraqi carrying Dinar...you really wouldn't be carrying any more notes around then you do right now as a American carrying dollar..we'll maybe a few more notes, but much much less coins, which i hate carrying anyway...

Edited September 7, 2011 by Ridewithme38

[cisole]

This article is from 04/08/2011 - 3:13 p

(8-4-11)

Same articles we were seeing blasted all over in August.

[randalln]

1 dinar = 1000 fills

they break down their currency in 1000th's

[DinarDana]

Do you carry around 50's or 100's now? Most ATM's around me give everything out in quantities of $20

So lets break down the current Iraqi currency vs the Current us dollars

25,000 dinar = $21.37 = about $20

10,000 dinar = $8.55 = about $10

5,000 dinar = $4.27 = about $5

1,000 dinar = $0.85 = about $1

500 dinar = $0.43 = about 50 cents

250 dinar = $0.21 = about 25 cents

50 dinar = $0.04 = about 5 cents

So as you can see...as an Iraqi carrying Dinar...you really wouldn't be carrying any more notes around then you do right now as a American carrying dollar..we'll maybe a few more notes, but much much less coins, which i hate carrying anyway...

You have a good point - a depressing one, however .

[randalln]

remember japan is .76/1 with the dollar and they use 10,000 yen notes

so iraq at .86/1 would be in line with a 10,000 dinar note

and after any RV from .86-3.00 would bring all the big notes off the market so fast the economy would go thru the roof ................

It is a proven fact any body holding Iraqi currency would cash in quick

they have no Debt folks zero

how many countries can say that also ZERO

[Dalite]

remember japan is .76/1 with the dollar and they use 10,000 yen notes

so iraq at .86/1 would be in line with a 10,000 dinar note

and after any RV from .86-3.00 would bring all the big notes off the market so fast the economy would go thru the roof ................

It is a proven fact any body holding Iraqi currency would cash in quick

they have no Debt folks zero

how many countries can say that also ZERO

Actually, they still have the Paris Club Debt until at least 2028, possibly as long as 2038.

But, approximately 80% of their debt was forgiven before the Paris Club payments started in June.

[randalln]

they back there currency now with currency( dollars euros pounds gold )

we trade in dinar for dollars then the USA buys there products (oil, gas ,sulfur ,nickel ect. ect. )

now they have debt They adjust the price of the goods sell the goods ,and we THE US Government pay with dinar

So it costs the USA money but not the IRAQI government (thats called trade balance for GDP) and they acutely make profit ......................

simple

Actually, they still have the Paris Club Debt until at least 2028, possibly as long as 2038.

But, approximately 80% of their debt was forgiven before the Paris Club payments started in June.

ya but thats more ceremonial than actual (they will hold that because france did not assist in the war so there taking a hard line to get some of Iraq also (Its all political )

[tommyboy]

Iraqi Currency Restructuring- Development of Coins

04/08/2011 - 3:13 pm

Iraqi Central Bank has decided to begin local currency restructuring and developing of local currency coins in cooperation with world international organizations and economists .

The deputy of Central Bank Governor Modhr Mohammed Saleh, announced Thursday in a statement that Forat TV received a copy of it that the central bank agreed with the Governmental financial institutions on currency restructuring, organization and development of coins .

"Also,the central bank decided to introduce a metal coins next three months, which will be of class 1000 dinars and 500 dinars .

http://www.alforattv...=article&id=535

Information with alink to the website Hows this for a Newbie!!!!!!!!

So this makes them worth $1 and .50 cents after they remove the three zeros? Then if the dinar increases in value, they could be worth $3.00 and $1.50 IF dinar goes to $3/1 IQD? Still need more change. This does not compute.

[randalln]

It ='s a few billion dollars worth HAHAHAHAHAHAHAHA

they drive a tent stake and hit 1billion dollars

So this makes them worth $1 and .50 cents after they remove the three zeros? Then if the dinar increases in value, they could be worth $3.00 and $1.50 IF dinar goes to $3/1 IQD? Still need more change. This does not compute.

If they move three ooo's it makes them .86 not $1.50 to 1

this is there rate now .00086

[Carrello]

All I know is if the rate does not change, I personally would not want to be carrying around bags of coins and stacks of bills. If I was a woman in Iraq I would need a VERY big purse to shop.

Right on, girlfriend. Those shopping trips with the girls would be work, and no heels allowed. You'd probably need a good chiropractor too.

Of course, you would probably want to spend it all because you certainly wouldn't want to carry all of that back home......

[Texas1]

they back there currency now with currency( dollars euros pounds gold )

we trade in dinar for dollars then the USA buys there products (oil, gas ,sulfur ,nickel ect. ect. )

now they have debt They adjust the price of the goods sell the goods ,and we THE US Government pay with dinar

So it costs the USA money but not the IRAQI government (thats called trade balance for GDP) and they acutely make profit ......................

simple

ya but thats more ceremonial than actual (they will hold that because france did not assist in the war so there taking a hard line to get some of Iraq also (Its all political )

So it would make sense that France might be holding a large amount of dinar.....as I have been told.

[randalln]

So it would make sense that France might be holding a large amount of dinar.....as I have been told.

possible but with a hold on the return

I do know that there not scheduled to pay back their first T-bill till feb. next year .

NOTESSecurities OfferedDiscountTotal Offering200,000,000,000Total Public Bidding156,500,000,000PricingMultipleTerm of Security (days)182Settlement Date9-8-2011Maturity Date7-2-2012Competitive Bidders5Winning Bidders5Total Non-Competitive Bids Awarded500,000,000Total Valid Competitive Bids156,000,000,000Total competitive Bids Awarded156,000,000,000Range of Yields of Valid Competitive Bids[8.50%-9.50%]Cut off Yield9.50Bids Received as % of Amount Offered78.25

All these # are in Dinar

[Mazzz27]

ok lets be real. honestly....will iraq really just go out and say...hey! we're RVing tomorrow! come buy all of our money so we can go bankrupt! lol

[DinarDana]

Right on, girlfriend. Those shopping trips with the girls would be work, and no heels allowed. You'd probably need a good chiropractor too.

Of course, you would probably want to spend it all because you certainly wouldn't want to carry all of that back home......

No heels, big purse, hairy man, chiropractor, this is not looking all that glamorous. RV to .86 and it might lighten the load.

Have a great night folks and thanks for the hope randalin. pssssssst I hope you're right.

[randalln]

No heels, big purse, hairy man, chiropractor, this is not looking all that glamorous. RV to .86 and it might lighten the load.

Have a great night folks and thanks for the hope randalin. pssssssst I hope you're right.

I hope im right too

[MovieMaker]

Could I choose a camel instead???

One hump or two?