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CBI issuing currency in 50 thousand dinars and coins


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Im saying they can just rv now rather than issue larger currency.. if they want to get rid of the 25k notes just increase the exchange rate.

They sure can, and I think that's the plan, to start removing the large notes.

I just what to thank everyone on this positive discussion on this topic.. I enjoy listening to all angles and putting my opinion out there without anyone getting bashed... Thank you !!!!

I feel the same way, having a healthy discussion without bashing.

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Just a comment, but many, many bashed Breitling as being a pumper for telling people that lds might be a good idea even if they were more expensive.

Were talking about two classes of currency . lower denoms would become nothing but pocket change. Thats of course if they issue another class of currency. They would coexist until the currency we hold now is withdrawn or deemed invalid after a specified timeframe.

Edited by truthful1
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I think these bigger notes are bonds. As I recall Iraq has not sold too many bonds/treasuries, anyway that is my read.

My link

I think if you want to confuse a people who reads their currency as the more zero's the more it is, then slash three zero's off of the 25,000 note, but keep the 250 note as is and it becomes more that is a good way to do it.

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I think these bigger notes are bonds. As I recall Iraq has not sold too many bonds/treasuries, anyway that is my read.

My link

I think if you want to confuse a people who reads their currency as the more zero's the more it is, then slash three zero's off of the 25,000 note, but keep the 250 note as is and it becomes more that is a good way to do it.

Thanks for the link, it makes sense to use the large notes as bonds.

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I think these bigger notes are bonds. As I recall Iraq has not sold too many bonds/treasuries, anyway that is my read.

My link

I think if you want to confuse a people who reads their currency as the more zero's the more it is, then slash three zero's off of the 25,000 note, but keep the 250 note as is and it becomes more that is a good way to do it.

Do you think it would be a long term bond or short 90 day bond.. Or a Junk Bond.. Interesting concept you brought here..

Edited by trooper
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Thanks for the link, it makes sense to use the large notes as bonds.

If my theory is correct, what it means to me is Iraq is ready to do business globally. As a matter of fact with all of these contractors, oil deals, electric deals, working with foreign banks, they need it to do business. So this may not be a bad thing.

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If in fact this article is true... then all the garbage these guru's have been feeding us has been pure B.S. !!! and how could they not know it!...

The bright side is... I look at the bigger picture...

inflation is on the rise... << it's bad.

Without an RV, there would be no way to justify the thousands of lives lost in the war and the hundreds of billions our country has spent over there.

Without an RV, there would be no way to justify why dozens of countries have forgiven Iraq's debt.

Without an RV, the wealthiest country in the world has nothing substantial to gain short or long term...

Without an RV, The Iraqi people stay victims subjected to suppression and poor living standards at the hands of an unruly and irresponsible Gov't.

Without an RV, all the counterfeiters wasted their time counterfeiting one of the most worthless currencies on the planet biggrin.gif

Saleh from day one, has always contradicted himself... I think his position within the CBI is to purely disseminate propaganda to confuse and discourage speculators and probably more so to fool the iraqi citizens.

Time will tell

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If my theory is correct, what it means to me is Iraq is ready to do business globally. As a matter of fact with all of these contractors, oil deals, electric deals, working with foreign banks, they need it to do business. So this may not be a bad thing.

I agree, but it's all speculation, but as good as any other.

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If in fact this article is true... then all the garbage these guru's have been feeding us has been pure B.S. !!! and how could they not know it!...

The bright side is... I look at the bigger picture...

inflation is on the rise... << it's bad.

Without an RV, there would be no way to justify the thousands of lives lost in the war and the hundreds of billions our country has spent over there.

Without an RV, there would be no way to justify why dozens of countries have forgiven Iraq's debt.

Without an RV, the wealthiest country in the world has nothing substantial to gain short or long term...

Without an RV, The Iraqi people stay victims subjected to suppression and poor living standards at the hands of an unruly and irresponsible Gov't.

Without an RV, all the counterfeiters wasted their time counterfeiting one of the most worthless currencies on the planet biggrin.gif

Saleh from day one, has always contradicted himself... I think his position within the CBI is to purely disseminate propaganda to confuse and discourage speculators and probably more so to fool the iraqi citizens.

Time will tell

I agree with all of it, so Shabibi push that button.

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Clever money -- bilingual bills will "eliminate inflation" Different Translation

21/11/2011 14:48

Baghdad, Nov. 21 (AKnews) - The Iraqi Central Bank (ICB) will produce new denomination bill as well as coins in both Arabic and Kurdish languages. The 50,000 dinar notes will hopefully address the liquidity issue in Iraq, halting inflation, the ICB said on Monday.

Deputy chairman of the ICB Dr Muzher Saleh told AKnews the largest denomination bill in the country is 25,000 dinars and its purchasing power does not exceed $23.

"The new currency will include symbols that reflect the diversity of Iraqi sects and civilizations including the Kurdish culture. Iraq needs to support its economy and its currency through the issuance of high value bills."

"In the financial transactions in the Iraqi market large amounts of cash are needed and therefore there is difficulty in transferring the money in bags. Sometimes Iraqi banks do not accept deposits because of counting problems for the large amounts of money."

"The ICB is seeking to fix the payments system in Iraq and the monetary policy. Soon new currency will be issued and three zeroes will be canceled from the new notes. This procedure will help the payments system and eliminate inflation. Instead of needing large amounts of money to buy a small quantity of goods, we will need small amounts of money to buy more goods."

http://www.aknews.co...knews/2/273741/

Read more:

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I dont think this should be too big of a worry....these larger bills will probly just be used for interbank transfers and would probly never make it into the hands of the citizens....

If you wanna take the word for word analysis of this article, it seems they are saying they are going to roll these bills out with the new currency planned for the RD and they would be part of the currency after they remove the zeros.....so if thats the case, there will be no need for the average citizen to carry around a 50k dinar bill valued close to 50k USD....

These will be used stricktly for banks if thats the case....no worries....

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I dont think this should be too big of a worry....these larger bills will probly just be used for interbank transfers and would probly never make it into the hands of the citizens....

If you wanna take the word for word analysis of this article, it seems they are saying they are going to roll these bills out with the new currency planned for the RD and they would be part of the currency after they remove the zeros.....so if thats the case, there will be no need for the average citizen to carry around a 50k dinar bill valued close to 50k USD....

These will be used stricktly for banks if thats the case....no worries....

Keep I am also thinking this one of the ways to get the people to invest in CBI. What better way to do it than by issuing bonds, just like we have done. Not to mention globally. I posted an article that indeed they want to start selling bonds, as they see this as an avenue to pay for the infrastructure and so forth via bonds/treasuries.

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Clever money -- bilingual bills will "eliminate inflation" Different Translation

21/11/2011 14:48

Baghdad, Nov. 21 (AKnews) - The Iraqi Central Bank (ICB) will produce new denomination bill as well as coins in both Arabic and Kurdish languages. The 50,000 dinar notes will hopefully address the liquidity issue in Iraq, halting inflation, the ICB said on Monday.

Deputy chairman of the ICB Dr Muzher Saleh told AKnews the largest denomination bill in the country is 25,000 dinars and its purchasing power does not exceed $23.

"The new currency will include symbols that reflect the diversity of Iraqi sects and civilizations including the Kurdish culture. Iraq needs to support its economy and its currency through the issuance of high value bills."

"In the financial transactions in the Iraqi market large amounts of cash are needed and therefore there is difficulty in transferring the money in bags. Sometimes Iraqi banks do not accept deposits because of counting problems for the large amounts of money."

"The ICB is seeking to fix the payments system in Iraq and the monetary policy. Soon new currency will be issued and three zeroes will be canceled from the new notes. This procedure will help the payments system and eliminate inflation. Instead of needing large amounts of money to buy a small quantity of goods, we will need small amounts of money to buy more goods."

http://www.aknews.co...knews/2/273741/

Read more:

A little different wording, but the same result, still confused on this paragraph " Soon new currency will be issued and three zeroes will be canceled from the new notes." sounds like rv and then lop

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