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CBI will issue new denomination bills


Flyers1
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Proud LOPster uote]

Haahaa perfect.

I agree....wake up.....its simply amazing how some can interpret things one way and some another.

So which way do you look at it hmm?

I agree....wake up.....its simply amazing how some can interpret things one way and some another.

Maybe you are another that needs to wake up, which side of the fence are you on? Lopster or not?I believe no lop.

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Maybe you are another that needs to wake up, which side of the fence are you on? Lopster or not?I believe no lop.

Lol! Man I am a go RV guy all the way.....its pretty damn clear they talkin about an .86 cent RV

The one thing I dont see any comments on is how they keep referring to the 25k note being the highest value not w a worth of 23 bucks....why cause they are saying the 50 dinar note will have more value then there highest valued currency now.

Look at this way....they do not have a 50k dinar note....they are simply stating that the 50 dinar not will have the same value as a 50k dinars does now. Pretty clear....

50,000 dinars now (NOT NOTE) = $43 USD

50 dinar note will = $43 USD

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I love it..... but......

What about the 50 dinar note they have now? Is that going to have the new value? If not, guess the phase out the old in with the new?

Do all of our old notes get the new value, or only the new notes?

This just raises more questions than it does answers.

That is true there is a 50 dinar note. As the article says there will be new markings to identify it. So the old 50 dinar note will be that worth times .86 until they are run out of circulation. Hence, there will be a time period to cash in more likely because the CBI want to give the Iraqis time to redeem their old notes and not have any hanging out.

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What if they issue a new bill with a value of 50,000 IQD ($43 USD) but marked as 50 dinars. Get Iraqis to use the 50 dinar notes, and draw in the lager notes. Then when they get most of the larger notes back into the coffers do a straight up RV everyone wins. Iraqis get greater purchase power with out making those in country loose money or become rich. Meanwhile those outside the country who helped Iraq by investing get the profits they were looking for. Then CBI slowly draws in Dinar from other countries for oil over time. They will be able to help the world economies, and reduce their money supply. Truth is no one knows, but this could be a possibility.

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Lol! Man I am a go RV guy all the way.....its pretty damn clear they talkin about an .86 cent RV

The one thing I dont see any comments on is how they keep referring to the 25k note being the highest value not w a worth of 23 bucks....why cause they are saying the 50 dinar note will have more value then there highest valued currency now.

Look at this way....they do not have a 50k dinar note....they are simply stating that the 50 dinar not will have the same value as a 50k dinars does now. Pretty clear....

50,000 dinars now (NOT NOTE) = $43 USD

50 dinar note will = $43 USD

Pretty clear to me!!! :D

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Lol! Man I am a go RV guy all the way.....its pretty damn clear they talkin about an .86 cent RV

The one thing I dont see any comments on is how they keep referring to the 25k note being the highest value not w a worth of 23 bucks....why cause they are saying the 50 dinar note will have more value then there highest valued currency now.

Look at this way....they do not have a 50k dinar note....they are simply stating that the 50 dinar not will have the same value as a 50k dinars does now. Pretty clear....

50,000 dinars now (NOT NOTE) = $43 USD

50 dinar note will = $43 USD

That is the way I read it, too. A 50 IQD note will be equivalent to 43 USD, or $43/50 IQD = $0.86/ IQD. The old 50 IQD note would be worth .05 IQD or $.043 (just under four and a half cents).

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BAGHDAD, Nov. 24 (AKnews) – The Iraqi Central Bank (ICB) has confirmed it will issue a new bill with a value of 50,000 IQD ($43 USD) but marked as 50 dinars.

Deputy chairman of the ICB Dr Muzher Saleh said the bank is working to issue this new money in addition to coins in both Arabic and Kurdish in an effort to address the liquidity problem in Iraq.

Economic adviser Abdul Hussein al-Ankabi said last September that this ploy to knock off some zeros will increase the phenomenon of money laundering.

The largest currency in the country is now 25,000 dinars and its purchasing power does not exceed $23 USD.

The new currency will include symbols that reflect the diversity of Iraqi sects and cultures including the Kurdish culture. “Iraq needs to support its economy and its currency through the issuance of a currency similar to foreign ones like the $100 bill,” Saleh added.

The main tasks of the ICB are to maintain price stability, implement monetary policy, manage reserves of foreign currency, issue and manage the currency and regulate the banking sector.

The inflation rate in Iraq stood at 7.3% in September.

http://bit.ly/uzA4v2

I hope this isn't their idea of an education campaign!

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That is the way I read it, too. A 50 IQD note will be equivalent to 43 USD, or $43/50 IQD = $0.86/ IQD. The old 50 IQD note would be worth .05 IQD or $.043 (just under four and a half cents).

Yep....the current 50 would not get the new value.....that's a RD, followed by a RV.....only the new 50 would have that higher value after they delete the zeros

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Too much in circulation. Do the math.

Hate to say it but that's right... look at the good ole USA. we have a deficit into the trillions. Iraq has trillions of dinar in circulation??? They have more currency in circulation than the USA.

I want a RV just as bad as anybody else. just sayin....

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Anyone else notice that K98nights flooded the news section with 15+ mundane news articles, driving this BLOCKBUSTER news to the second page? Is he a pumper?

Perhaps you are looking for specific news of the RV. That's understandable.

Many "investors" here realize that there are many facets to the diamond that is being polished, and many international events, far reaching policies, building of security, and education need to take place in order to get to the bottom line, the RV. If you are an "investor" and not just a get-rich-quick person, you would realize the complexities, not to mention the complexities within an emerging democracy. The corruption alone would make most just throw in the towel.

For individuals that have an interest in this investment and in Iraq, they gather the news and are able to see trends, establish history of agencies and individuals, and apply past knowledge and experience to current information. We have some very interesting debates that open the flood gates for sharing information and experience. The comments here, IMO, the far more interesting and accurate than the news article.

The news that K98nights brings to us, and we owe a great thanks to him for doing so, knits together a tapestry of information, that typically have influence over some aspect of policy, security, trade, development, humanitarian issues, and/or value of currency. I posted an article this morning about Iraqis implementing a program to produce 75% of their what requirements. You might wonder what this has to do with an RV. It has to do with inflation and importing food goods, therefore, value of the currency.

I am not sure why you think K98nights is a pumper, but I will leave that one to you and others.

Everybody have different interests. Everybody has different MOs. But rather than criticizing K98nights, you may want to look at what he provides for all of the "investors" here. He is helping us to acquire informatioon that allows us to have a clear (that is optimistic) understanding of the events in Iraq, and this in turn allows us to be patient and not go off half-cocked, which would only end up shooting us in the foot.

Take care.

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