5k notes

[tampabay6]

In Adam's rate prediction, he was suggesting the possibility of the following scenario:

"The CBI announces the rate at ten cents and also announces that your large notes will be worthless in 90 days."

Read more: http://dinarspeculation.com/2011/10/26/adam-montana-predicts-the-rv-rate/#ixzz1c2baLn88

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I read topics and posts about "25k notes" and comments that "We all have 25k notes" and "The CBI wants to retire the 25k notes" and comments about "removing 3 zeros"...

Do you believe 5k notes will get exactly the same treatment as 25k notes, or not?

I did search to see if anyone had asked this exact same question; if so I was not able to find it.

If they really do this like the above quote suggests, I wonder how that can be lawful. Of course when they took the dinars with Saddam Hussein's picture on them out of circulation, they took them ALL out - they didn't say "we are taking out the 100 dinar notes but leaving the 1's and 5's and 10's... etc.

Then I found this...

With all the speculation about the 000-being removed. If they take back the large bills 25,000 /10,000 / 5,000 / 1,000 / 500 / 250. Why would they take back the 50's, does anyone think they could stay, and wouldn't that be great if we could hold onto them and wait for the value to go up in the event the rate comes out low...Or maybe I'm just nuts, not sure why I'm the only one thinking this way. Curious if anyone agrees or knows why they will get called back too...Thanks here's to us all having a little GREEN with or turkey this ThanksGiving..

And this...

If they do anything with a currency, whatever is done is across the board to all denominations.

That being said, in the same currency you can not issue and have circulating 2 notes worth the same value.

Example: They already have a 50 dinar note. *If* it were to LOP it would be 5 cents. The CBI could NOT issue another 50 note into circulation and have them be worth 2 different values.

When we refer to a piece of currency as a "note" - legally speaking that means that the Central Bank that issued that note, owes that amount of money to the holder of that note.

The older U.S. money that was redeemable upon demand in Gold or Silver made that more clear up front with language like "This note can be redeemed in lawful money upon demand at any Federal Reserve bank." Nowadays, all "currency" that I am aware of is "redeemable for nothing" - it is an "I.O.U. nothing." However, if we continue to refer to it as a "note" - that still means it is based upon a debt, owed to the holder of the note. This is the same type of language we see with the recent controversy over the way banks transfer home loans between each other and there is litigation over who is the "owner and holder in due course of the note."

Sooooo... how can they simply repudiate some of their notes, while continuing to honor others? Just because they are a government and they have bigger guns than we do?

If so, then Maliki has a lot of nerve referring to his political party as the "State of Law" !

So what is "a large note?" 250 or more? 1000 or more (the dreaded triple zeros)? Just 25000? Any note that's been in circulation since 2004?

Why?

[FreckledFuzz]

Not really.

All currenncy currently out there will be treated the same. (As I said)

However, during the time of transition, all the old notes will at one point be 'destroyed' as the new currency to come out is going to have 3 languages on it.

It wouldn't be unlawful to destroy something if you wanted to remove it from circulation. Their intention is to release a 25flight dinar note in replace of the 25,000.

(Please note:this is not a lop statement.... they want to issue a new note worth the value of the old note (pre RV)

I don't know how to explain it better.

I do know that it makes sense to get them off the street as how many places can you walk into and get change for a $25,000 bill? I'm finding it difficult to crack Benjamins at gas stations these days.

[IHustle]

I'm finding it difficult to crack Benjamins at gas stations these days.

Lol same here people look at me funny like I'm asking them (give me a gold brick on pump 5)

[DINARV77]

In Adam's rate prediction, he was suggesting the possibility of the following scenario:

"The CBI announces the rate at ten cents and also announces that your large notes will be worthless in 90 days."

Read more: http://dinarspeculation.com/2011/10/26/adam-montana-predicts-the-rv-rate/#ixzz1c2baLn88

-----

I read topics and posts about "25k notes" and comments that "We all have 25k notes" and "The CBI wants to retire the 25k notes" and comments about "removing 3 zeros"...

Do you believe 5k notes will get exactly the same treatment as 25k notes, or not?

I did search to see if anyone had asked this exact same question; if so I was not able to find it.

If they really do this like the above quote suggests, I wonder how that can be lawful. Of course when they took the dinars with Saddam Hussein's picture on them out of circulation, they took them ALL out - they didn't say "we are taking out the 100 dinar notes but leaving the 1's and 5's and 10's... etc.

Then I found this...

And this...

When we refer to a piece of currency as a "note" - legally speaking that means that the Central Bank that issued that note, owes that amount of money to the holder of that note.

The older U.S. money that was redeemable upon demand in Gold or Silver made that more clear up front with language like "This note can be redeemed in lawful money upon demand at any Federal Reserve bank." Nowadays, all "currency" that I am aware of is "redeemable for nothing" - it is an "I.O.U. nothing." However, if we continue to refer to it as a "note" - that still means it is based upon a debt, owed to the holder of the note. This is the same type of language we see with the recent controversy over the way banks transfer home loans between each other and there is litigation over who is the "owner and holder in due course of the note."

Sooooo... how can they simply repudiate some of their notes, while continuing to honor others? Just because they are a government and they have bigger guns than we do?

If so, then Maliki has a lot of nerve referring to his political party as the "State of Law" !

So what is "a large note?" 250 or more? 1000 or more (the dreaded triple zeros)? Just 25000? Any note that's been in circulation since 2004?

Why?

My opinion is that the CBI is not going to lob off anything why would they ?

They have billions in circulation with many investors with all this paper and 25k , 10k, 5k NOTES etc....

Can you imagine everyone turning in their money at the same time to exchange on an RV ?

Too much chaos..

GO RV

[brbrlocke]

Dang...Ya'll get change back from a 50 at the pumps...

[sportfisher]

I think the 5K note will get 1/5 of the respect that a 25K note gets................... :lol:

[zigmeister]

Dang...Ya'll get change back from a 50 at the pumps...

Unless your a dinar guru.