Iraq Coinage One Step Closer to Reality - Article 10/18/2011

[DinarBot]

No, it was translated by them or google. Old news. So Says............Daytrader

Yes, Based on an earlier article here regarding issuing of "heavy metal denominations". PS not "MegaDeath"

Edited October 18, 2011 by DinarBot

[Darin]

It doesn't really matter who the article comes from.

If it is an article that can be viewed in a positive light, or in many cases a positive spin can be put on it, it doesn't matter what the source it will posted as the truth of 'the plan'.

When an article comes out from the CBI, if it is an advisor and is not able to be taken in a positive light it is discounted as only being from an advisor and not Shabibi. The same is true if it comes from the MoF.

When an article comes out from Shabibi that is not able to be viewed in a positive light, the argument quickly becomes that they cannot tell the masses what the plan is and that he is lying to curb speculation.

It's a predictable scenario based on the content and wording of the articles.

In the end, all we can do is wait and see what actually happens and hope for the best.

So if the same author came out tomorrow and stated that it appears the CBI is going to R/V the currency instead you would give them the same credibility? I doubt it..

You would give the author less credibility upon both articles, only leaning towards the R/D article as that is what you perceive to be a feasible outcome.

The CBI has been hinting R/D for years..... They can only cry wolf for so long.. They need to crap or get off the pot, or they're going to lose all credibility all together.

Unless..... The GOI is preventing this from happening, and if that is so, than they're the good guys & on our side.. Which is what I believe.

The delays could be a silver lining for a better outcome.

Just like every other piece of intel..........how do you know it's true? Because it's in the news? It may be true, but I can't say for sure. So Says..............DayTrader

When I see Official government documentation laying out the fulld etails of the re-denomination (Like Turkey did).. I'll believe that is their intention. Until than, we speculate.

[caz1104]

So if the same author came out tomorrow and stated that it appears the CBI is going to R/V the currency instead you would give them the same credibility? I doubt it..

You would give the author less credibility upon both articles, only leaning towards the R/D article as that is what you perceive to be a feasible outcome.

The CBI has been hinting R/D for years..... They can only cry wolf for so long.. They need to crap or get off the pot, or they're going to lose all credibility all together.

Unless..... The GOI is preventing this from happening, and if that is so, than they're the good guys & on our side.. Which is what I believe.

The delays could be a silver lining for a better outcome.

When I see Official government documentation laying out the fulld etails of the re-denomination (Like Turkey did).. I'll believe that is their intention. Until than, we speculate.

and DV will become an official ghost town

[DinarBot]

So if the same author came out tomorrow and stated that it appears the CBI is going to R/V the currency instead you would give them the same credibility? I doubt it..

You would give the author less credibility upon both articles, only leaning towards the R/D article as that is what you perceive to be a feasible outcome.

The CBI has been hinting R/D for years..... They can only cry wolf for so long.. They need to crap or get off the pot, or they're going to lose all credibility all together.

Unless..... The GOI is preventing this from happening, and if that is so, than they're the good guys & on our side.. Which is what I believe.

The delays could be a silver lining for a better outcome.

When I see Official government documentation laying out the fulld etails of the re-denomination (Like Turkey did).. I'll believe that is their intention. Until than, we speculate.

CBI is protecting it's currency. If they have to lie they will. The CBI does not give a Kave Kats Arse what the public believes or does not believe. They have a clear agenda. Protect the IQD from any and all forms of speculation. Stay still.

Edited October 18, 2011 by DinarBot

[keepmwlknfny]

@keep...im still in denial! I know what it looks like but after all this BS we are gonna end up making nothing off this investment?

Ill never say LOP even if it looks like this is what will happen.

Go RV

LOL I really hope thats not the case! But it seems to be all that the CBI is talking about lately......

I think venturing into Warka would be a good idea....Im probly gonna send them an email tonight....worse case scenerio and they do follow through with this lop crap, you wouldnt need to worry about exchanging your current bills and you could hold on until the dinar appreciates even more so it would be better then breaking even or losing money....

Decisions decisions.....

[Snatcher]

Maybe this will remove some of the confusion resulting in 20 pages of response arguing the the 3 zeros are removed from the exchange rate only.

I have never doubted that the zeros will be remove from circulation. Just don't believe it will happen as you say...Yes they will removed the larger notes from circulation after we turn them in. When the new notes are printed they will no longer have the 000's on them ...But they will not remove them from the notes we currently have when we cash them in. It will be just like when our current notes were exchanged for Saddam notes it was a one to one exchange. So we can turn in the notes we have for 1 new dinar per dinar we turn in if we choose..But I for one will be exchanging for USDs, gold and silver.

[HopefulTxn]

So if the same author came out tomorrow and stated that it appears the CBI is going to R/V the currency instead you would give them the same credibility? I doubt it..

You would give the author less credibility upon both articles, only leaning towards the R/D article as that is what you perceive to be a feasible outcome.

The CBI has been hinting R/D for years..... They can only cry wolf for so long.. They need to crap or get off the pot, or they're going to lose all credibility all together.

Unless..... The GOI is preventing this from happening, and if that is so, than they're the good guys & on our side.. Which is what I believe.

The delays could be a silver lining for a better outcome.

Where did I state giving credibility to the author of this article over others?

I stated that there is a predictable cycle based on the content of ANY article regardless of source.

It's a simple cycle to notice: If the article can be spun as a positive in any manner it will be hailed as evidence 'the plan' is real and the RV is imminent. If it can't be, then it is reviled as propaganda to curb speculation or its translation is questioned and dismissed. It's funny that nobody really questions the translation or motives of the positive sounding articles, only the negative sounding ones.

So we sit, we wait, and we hope for the best outcome.

[aaanth]

Is that anywhere near Wonderland? Or closer to Candy Land?

let's just hope it's no where near never never land!!

[2fast4u2c]

DHardage....you are 100% correct!

I have been in for several years and I have seen that vicious circle the whole time....but I still want to be rich! lol

[dhardage]

DHardage....you are 100% correct!

I have been in for several years and I have seen that vicious circle the whole time....but I still want to be rich! lol

And I wanna be young!! Does that mean if it RVs we will BOTH get our wish?? Would hardly be fair, if it was just you!

[Darin]

Where did I state giving credibility to the author of this article over others?

I stated that there is a predictable cycle based on the content of ANY article regardless of source.

It's a simple cycle to notice: If the article can be spun as a positive in any manner it will be hailed as evidence 'the plan' is real and the RV is imminent. If it can't be, then it is reviled as propaganda to curb speculation or its translation is questioned and dismissed. It's funny that nobody really questions the translation or motives of the positive sounding articles, only the negative sounding ones.

So we sit, we wait, and we hope for the best outcome.

It was implied when you said.. "It really doesn't matter who the articles comes from.."

Almost as if anyone who scream R/D is honest & accurate while anyone who spouts R/V is dishonest and full of b.s.

That's what I took away from that post.

[DinarRedneck]

It was implied when you said.. "It really doesn't matter who the articles comes from.."

Almost as if anyone who scream R/D is honest & accurate while anyone who spouts R/V is dishonest and full of b.s.

That's what I took away from that post.

Who has spouted R/V? I reckon it's only been the guru's....ifin thats the case, then yes, the guru's are dishonest and full of b.s.

Edited October 18, 2011 by DinarRedneck

[HopefulTxn]

It was implied when you said.. "It really doesn't matter who the articles comes from.."

Almost as if anyone who scream R/D is honest & accurate while anyone who spouts R/V is dishonest and full of b.s.

That's what I took away from that post.

Ah, so you read the first line without taking the context of the rest of what was written to determine what it meant. Sounds like a lot of threads.

Just messing with yah...

[Darin]

Ah, so you read the first line without taking the context of the rest of what was written to determine what it meant. Sounds like a lot of threads.

Just messing with yah...

I excluded the rest of your post as it appeared to be more of a rant full of your own opinions..

I know your messing with me.. I'm messing with many people who seem to have a one-track mind.. Messing with them is a bad choice of words. I would better describe it as stirring the pot with good intentions. See, if your not challenged, you don't think of other possibilities.

If your a stubborn R/V believer, I'll throw the R/D threats

If your a stubborn R/D believer, I'll throw the R/V threats

As for myself, I am on the fence...

I would argue most people are, and if not, they're too naive to believe what may happen (whether it is in our favor or not)..

[fastarnie]

Yes.

It affects both the currency and exchange rate.

25000 dinar equals $21.50 at 1170:1

Divide by 1000 (equivalent of 3 zeros)

25000/1000=25

1170/1000=1.17

25 dinar equals $21.50 at 1.17:1

The old notes are reduced by a factor of 1000, while the exchange rate in increased by a factor of 1000

This is how the 2 currencies can coexist without any loss of value, until the older currency can completely be removed from circulation.

Is this what I personally want? Absolutely Not

Is this the way a 3 Zero redenomination would work? Textbook. Never any variation in redenomination, other than the number of zeros. They all work exactly the same as far as the math goes..

The CBI still seems intent on going through with this, otherwise the 3 zero articles would cease.

The country looks about ready to implode under the weight of corruption and power grabbing.

Let't hope that inflation goes back over 10% to stop the RD plans, and the country avoids civil war long enough for the money to increase in value..

Thanks Dalite for the response.

[SPRAYERDUDE]

Iraq Coinage One Step Closer to Reality - Article

10/18/2011

Iraq Coinage One Step Closer to Reality

By Richard Giedroyc,

World Coin News

October 18, 2011 This article was originally printed in World Coin News.

Iraq may soon see its first circulating coinage since 2004, but it might be quite different from what was used in the past.

Alsumaria Iraqi satellite television reported on Sept. 3 that, “The denomination of the Iraqi currency reached its final stages as the study and draft resolution reached the Cabinet after being sent by [the] Iraq Central Bank. Iraq Central Bank said that it won't only delete the zeros, but it will also change Iraq monetary structure in order to provide bigger currencies. According to this project, coins will appear again in the Iraqi currency. As for the bank notes, the Central Bank will recourse to international institutions to print them.”

In a further reform, the central bank announced that the new bank notes will be printed in three languages, one of which will be Kurdish. The Kurds live primarily in northern Iraq and were enemies of the Saddam government and pro-Saddam insurgents who fought coalition troops following Saddam’s overthrow.

The new notes will carry vignettes from Iraqi civilization rather than Saddam’s portrait, which has appeared on notes in the past. Nothing was said regarding the coins and if they too will carry three languages.

The central bank stressed the changes are meant to decrease the enormous amount of currency it takes to make cash transactions, but it should not impact the purchasing power of the dinar. Plans call for three zeroes to be removed from all existing bank note denominations.

Coins were initially introduced in modern Iraq when Iraq was an independent kingdom, during 1931 and 1932. The coins were issued in denominations of 1, 2, 4, 10, 20, 50 and 200 fils. The 200-fils coin is also known as a rial. In 1953, a 100-fils coin was added to this mix.

A new series of coins initially in denominations of 1, 5, 10, 25, 50 and 100 fils was issued at the time of the establishment of the Iraqi Republic, with 250 fils coins being added in 1970 and 500 fils and 1 dinar coins in 1982. All Iraqi coin production ceased after 1990.

The Coalition Provisional Authority that followed the overthrow of Saddam authorized new coins and bank notes. In 2004, 25-, 50- and 100-dinar coins were introduced, however they proved to be unpopular and were quickly withdrawn.

Coins and low denomination bank notes are a problem since due to inflation, they have little purchasing power. Iraq’s highest currency denomination is the 25,000-dinar bank note, which has an exchange value of about $21 U.S. It will take a currency reform in which three zeros are removed from each existing denomination to make it practical for coins to circulate. Such a currency reform will also benefit the Iraqi government, since the government will be able to spend less on future bank notes when low denomination notes are once more able to circulate.

It is expected it will take three years for a currency reform to become a reality. Nothing was immediately available regarding where future coins or bank notes might be produced.

Iraq’s currency has been impacted by severe fluctuations in the economy between the later years of Saddam’s dictatorial rule and today. Economic sanctions imposed on the regime caused rampant inflation, which was quickly coupled with massive counterfeiting of bank notes, while all coins vanished from circulation.

Once the Saddam regime was blocked from receiving new supplies of high quality bank notes from overseas, the poorer quality notes produced domestically became the target of domestic counterfeiters. It has never been proven, but there is a possibility foreign countries also sanctioned counterfeit Iraqi dinar bank notes as well.

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=24266

BLAH BLAH BLAH I'm getting really tired of this recirculated article.

[Rabbi]

Yes.

It affects both the currency and exchange rate.

25000 dinar equals $21.50 at 1170:1

Divide by 1000 (equivalent of 3 zeros)

25000/1000=25

1170/1000=1.17

25 dinar equals $21.50 at 1.17:1

The old notes are reduced by a factor of 1000, while the exchange rate in increased by a factor of 1000

This is how the 2 currencies can coexist without any loss of value, until the older currency can completely be removed from circulation.

Is this what I personally want? Absolutely Not

Is this the way a 3 Zero redenomination would work? Textbook. Never any variation in redenomination, other than the number of zeros. They all work exactly the same as far as the math goes..

Yes, this premise is the dreaded LOP that the vast majority of us fear and that a very few of us twisted ones (you know who you are) hope for just to say they were right. However, it doesn't have to affect BOTH the currency and the exchange rate. There is another way for both the existing denoms and the new LDs to co-exist...and that is a straight-up RV. Think about the average Iraqi who, if he's lucky, has maybe 500,000 dinars, currently worth $420. In a straight RV to a $1/dinar exchange rate, that Iraqi now has dinars worth $500,000. This guy has probably been living at a bare subsistence level prior to the RV. How long do you think it will take to spend that $500,000, converting them to the LDs in the meantime. At least 3 years? That's what the CBI is talking about when they talk about this project. It will take take that much time for all of the existing 3-zero bills to be exchanged for the LDs. That should also be our window of exchange, unless they implement some special rule for dinars held outside of Iraq.

Let's face it, if they were going to lop, they would have done it a loooooooong time ago. There is absolutely no reason to delay a lop. Secondly, why would they be sooooo concerned about counterfeiting a 25,000-dinar note that will only be worth $21? They wouldn't be, at least not to the level that they seem to be concerned. On the other hand, an RV to the exchange rate to $1/dinar creates lots of concern with regard to 3-zero bills that will be worth $1,000, $5,000, $10,000, and $25,000.

Thirdly, the big picture. Right now, the Iraqi money supply of 29 trillion dinars is worth something like $26 billion. In the event of a lop and new exchange rate of $1/dinar, the value of the Iraqi money supply become $29 billion. Once again, why all of the delay for a frickin' $3 billion increase in value? The big picture is not helped by $3 billion. Conversely, a straight RV to $1/dinar turns money that was worth a mere $29 billion into money that is worth $29 trillion . Now that will certainly help the big picture, and that certainly can explain all of the delay.

[hame55]

Iraq Coinage One Step Closer to Reality - Article

10/18/2011

Iraq Coinage One Step Closer to Reality

By Richard Giedroyc,

World Coin News

October 18, 2011 This article was originally printed in World Coin News.

Iraq may soon see its first circulating coinage since 2004, but it might be quite different from what was used in the past.

Alsumaria Iraqi satellite television reported on Sept. 3 that, “The denomination of the Iraqi currency reached its final stages as the study and draft resolution reached the Cabinet after being sent by [the] Iraq Central Bank. Iraq Central Bank said that it won't only delete the zeros, but it will also change Iraq monetary structure in order to provide bigger currencies. According to this project, coins will appear again in the Iraqi currency. As for the bank notes, the Central Bank will recourse to international institutions to print them.”

In a further reform, the central bank announced that the new bank notes will be printed in three languages, one of which will be Kurdish. The Kurds live primarily in northern Iraq and were enemies of the Saddam government and pro-Saddam insurgents who fought coalition troops following Saddam’s overthrow.

The new notes will carry vignettes from Iraqi civilization rather than Saddam’s portrait, which has appeared on notes in the past. Nothing was said regarding the coins and if they too will carry three languages.

The central bank stressed the changes are meant to decrease the enormous amount of currency it takes to make cash transactions, but it should not impact the purchasing power of the dinar. Plans call for three zeroes to be removed from all existing bank note denominations.

Coins were initially introduced in modern Iraq when Iraq was an independent kingdom, during 1931 and 1932. The coins were issued in denominations of 1, 2, 4, 10, 20, 50 and 200 fils. The 200-fils coin is also known as a rial. In 1953, a 100-fils coin was added to this mix.

A new series of coins initially in denominations of 1, 5, 10, 25, 50 and 100 fils was issued at the time of the establishment of the Iraqi Republic, with 250 fils coins being added in 1970 and 500 fils and 1 dinar coins in 1982. All Iraqi coin production ceased after 1990.

The Coalition Provisional Authority that followed the overthrow of Saddam authorized new coins and bank notes. In 2004, 25-, 50- and 100-dinar coins were introduced, however they proved to be unpopular and were quickly withdrawn.

Coins and low denomination bank notes are a problem since due to inflation, they have little purchasing power. Iraq’s highest currency denomination is the 25,000-dinar bank note, which has an exchange value of about $21 U.S. It will take a currency reform in which three zeros are removed from each existing denomination to make it practical for coins to circulate. Such a currency reform will also benefit the Iraqi government, since the government will be able to spend less on future bank notes when low denomination notes are once more able to circulate.

It is expected it will take three years for a currency reform to become a reality. Nothing was immediately available regarding where future coins or bank notes might be produced.

Iraq’s currency has been impacted by severe fluctuations in the economy between the later years of Saddam’s dictatorial rule and today. Economic sanctions imposed on the regime caused rampant inflation, which was quickly coupled with massive counterfeiting of bank notes, while all coins vanished from circulation.

Once the Saddam regime was blocked from receiving new supplies of high quality bank notes from overseas, the poorer quality notes produced domestically became the target of domestic counterfeiters. It has never been proven, but there is a possibility foreign countries also sanctioned counterfeit Iraqi dinar bank notes as well.

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=24266

Looky Looky!

The lopsters found another RD article (From Coin News no less...)

Amazing! I wonder how many RD/LOP articles we've read in the past few years...maybe hundreds? Must mean it's true...

SO IF THEY ARE GOING TO RD, THEN WHY ALL THE FUSS? Why haven't they just redenominated years ago? If it's so easy, and they just have to RD to save their currency, then why haven't they DONE IT? It's a No-Mess, No-Fuss job. Neutral. Kills past inflation. No going international on the market. No sanctions problems. Nobody gets mad (I guess... except us and the US gov't) They can RV after, as you Lopsters like to say, when they get stronger. So why haven't they DONE it? Why fight over currency reform in Parliament if they are going to do a VALUE NEUTRAL move?

Answer me that, LOPSTERS>

[JWJW11]

Yes, this premise is the dreaded LOP that the vast majority of us fear and that a very few of us twisted ones (you know who you are) hope for just to say they were right. However, it doesn't have to affect BOTH the currency and the exchange rate. There is another way for both the existing denoms and the new LDs to co-exist...and that is a straight-up RV. Think about the average Iraqi who, if he's lucky, has maybe 500,000 dinars, currently worth $420. In a straight RV to a $1/dinar exchange rate, that Iraqi now has dinars worth $500,000. This guy has probably been living at a bare subsistence level prior to the RV. How long do you think it will take to spend that $500,000, converting them to the LDs in the meantime. At least 3 years? That's what the CBI is talking about when they talk about this project. It will take take that much time for all of the existing 3-zero bills to be exchanged for the LDs. That should also be our window of exchange, unless they implement some special rule for dinars held outside of Iraq.

Let's face it, if they were going to lop, they would have done it a loooooooong time ago. There is absolutely no reason to delay a lop. Secondly, why would they be sooooo concerned about counterfeiting a 25,000-dinar note that will only be worth $21? They wouldn't be, at least not to the level that they seem to be concerned. On the other hand, an RV to the exchange rate to $1/dinar creates lots of concern with regard to 3-zero bills that will be worth $1,000, $5,000, $10,000, and $25,000.

Thirdly, the big picture. Right now, the Iraqi money supply of 29 trillion dinars is worth something like $26 billion. In the event of a lop and new exchange rate of $1/dinar, the value of the Iraqi money supply become $29 billion. Once again, why all of the delay for a frickin' $3 billion increase in value? The big picture is not helped by $3 billion. Conversely, a straight RV to $1/dinar turns money that was worth a mere $29 billion into money that is worth $29 trillion . Now that will certainly help the big picture, and that certainly can explain all of the delay.

Very well put!!!

[dhardage]

Looky Looky!

The lopsters found another RD article (From Coin News no less...)

Amazing! I wonder how many RD/LOP articles we've read in the past few years...maybe hundreds? Must mean it's true...

SO IF THEY ARE GOING TO RD, THEN WHY ALL THE FUSS? Why haven't they just redenominated years ago? If it's so easy, and they just have to RD to save their currency, then why haven't they DONE IT? It's a No-Mess, No-Fuss job. Neutral. Kills past inflation. No going international on the market. No sanctions problems. Nobody gets mad (I guess... except us and the US gov't) They can RV after, as you Lopsters like to say, when they get stronger. So why haven't they DONE it? Why fight over currency reform in Parliament if they are going to do a VALUE NEUTRAL move?

Answer me that, LOPSTERS>

Rephrase your question as a grown up and someone MAY just answer it with their thoughts.

[hame55]

Rephrase your question as a grown up and someone MAY just answer it with their thoughts.

Cat got your tongue?

[zigmeister]

Secondly, why would they be sooooo concerned about counterfeiting a 25,000-dinar note that will only be worth $21? They wouldn't be, at least not to the level that they seem to be concerned.

You have hit on something I have been trying to figure out forever. Why are they so concerned about counterfeiting? There has been a many articles of them pulling people in who are doing this. One recent one was a bout some guy and his garage where they found counterfeiting going on. They are very meticulous for those crossing from Iraq outside of the their borders. A counterfeiter bringing in 25,000 thats worth 21 bucks, doesn't seem worth the trouble to me.

And I see a country that is making a lot of deals to get rid of their debt. If they are going to RD would it matter so much? That is a question, cause I do not know.

[Shick]

This is exactly how delete the three zeroes happens. As someone said textbook example. A very clear explanation from a news source which received info from cbi. This article has more credibility than any intel peoples been listening to for years. I hope people pull their head out of the sand and realize this is has enormous potential for happening. Now that this topic is nondebatable by definition, now we can get back to looking and hoping for a straight rv.

I'M ON THAT SIDE! GO RV!

[caz1104]

You have hit on something I have been trying to figure out forever. Why are they so concerned about counterfeiting? There has been a many articles of them pulling people in who are doing this. One recent one was a bout some guy and his garage where they found counterfeiting going on. They are very meticulous for those crossing from Iraq outside of the their borders. A counterfeiter bringing in 25,000 thats worth 21 bucks, doesn't seem worth the trouble to me.

will be after the RD/LOP...........................................uh no it won't. Nobody ever said thieves were smart and in this case rich-lol

[hame55]

Yes, this premise is the dreaded LOP that the vast majority of us fear and that a very few of us twisted ones (you know who you are) hope for just to say they were right. However, it doesn't have to affect BOTH the currency and the exchange rate. There is another way for both the existing denoms and the new LDs to co-exist...and that is a straight-up RV. Think about the average Iraqi who, if he's lucky, has maybe 500,000 dinars, currently worth $420. In a straight RV to a $1/dinar exchange rate, that Iraqi now has dinars worth $500,000. This guy has probably been living at a bare subsistence level prior to the RV. How long do you think it will take to spend that $500,000, converting them to the LDs in the meantime. At least 3 years? That's what the CBI is talking about when they talk about this project. It will take take that much time for all of the existing 3-zero bills to be exchanged for the LDs. That should also be our window of exchange, unless they implement some special rule for dinars held outside of Iraq.

Let's face it, if they were going to lop, they would have done it a loooooooong time ago. There is absolutely no reason to delay a lop. Secondly, why would they be sooooo concerned about counterfeiting a 25,000-dinar note that will only be worth $21? They wouldn't be, at least not to the level that they seem to be concerned. On the other hand, an RV to the exchange rate to $1/dinar creates lots of concern with regard to 3-zero bills that will be worth $1,000, $5,000, $10,000, and $25,000.

Thirdly, the big picture. Right now, the Iraqi money supply of 29 trillion dinars is worth something like $26 billion. In the event of a lop and new exchange rate of $1/dinar, the value of the Iraqi money supply become $29 billion. Once again, why all of the delay for a frickin' $3 billion increase in value? The big picture is not helped by $3 billion. Conversely, a straight RV to $1/dinar turns money that was worth a mere $29 billion into money that is worth $29 trillion . Now that will certainly help the big picture, and that certainly can explain all of the delay.

Beautifully put, Rabbi!

WHERE have you been?

I think everything, especially the counterfeiting argument, works very well. Totally logical. Of course they would have RD'd a long time ago if that were their intent.

The only hole in your post is the TRILLIONS. It has to be they are misrepresenting the total circulation

numbers of dinar, while privately reporting the real numbers to the IMF, as required by their sanctions. This "double booking" is probably justified by the IMF to prevent a run on the currency - i.e. the "smoke and mirrors" argument.

That is the only way I can think of, at the moment, for them to RV. Otherwise, the lopsters have a good point.