CBI will issue new denomination bills

[Jeff Rasmussen]

My take from the article is that the value of all dinars will increase whether in the form of new notes, old notes, dinars in accounts that are in digital form, etc. The country and people of Iraq are on a huge upswing and will prosper greatly in the years to come......so exciting for them and will be a benefit to us as investors.

[Carrello]

.86 per Dinar is $860,000 per million. $860 is the current rate.

I love the sound of a 50 being worth $43, but what happens to the 50 Dinar note that already exists?? This is what scares me.

Thank you. It would be easier to do simple calculations if I was not hyperventilating and holding a paper bag to my face.

I think the current 50 will just be dust.

[keepmwlknfny]

Good point Keep there have been folks on the ground stating they already are treating the money without zero's. So it is possible it has already been done within Iraq. However there are articles stating the people are going to the street banks(money laundering) and exchanging dinar for dollars. I assume out of fear, they are getting what little they are worth while they can.

I would agree that they are probly worried a little cause they are unsure of all the affects this would have so them. Sellin dinar for dollars. Makes them feel safer since the usd does carry value but in the end they will end up in the same position as if they held onto all their dinar....

I think the current 50 will just be dust.

Pretty much.....it will stay the same value as it is now until its taken out of circulation with the rest of the current bills.....

[Alex38]

Go RV!!!!!!!! Saweeeet!!!!

[DinarDana]

So if you have a 50k note and trade it in you will get a 50 note. that is an rd. Value neutral.. Not what we want.

Correct if you are a Iraqi, 50 dinar = 50 dinar EXACTLY.

But here in the USA 50 dinar = 43.00 USD

[Footer]

Thank you. It would be easier to do simple calculations if I was not hyperventilating and holding a paper bag to my face.

I think the current 50 will just be dust.

If they made the current 50 dust, then what would happen to all those who have the 50 notes that are in circulation right now? I think they will either be worth what the new 50 is worth ($43) and be traded evenly for a new 50 note.... Aka a straight up RV which would be just peachy!

Or... Here it is as Keepm tells it.... The old 50 is worth $.05 (a nickel) which is a redenomination and it is totally possible. They gain purchasing power and no one loses or gains anything...

I don't know which way it will go. I think there are valid arguements on both sides of the fence. This is getting very exciting at the very least!

Edited November 24, 2011 by Footer

[drlewis]

They said the 50 has the value of 43 dollars I guess you missed that part duh.

DUH, They also said the 50k note will have the same value.. $43.00

[DinarDana]

.86 per Dinar is $860,000 per million. $860 is the current rate.

I love the sound of a 50 being worth $43, but what happens to the 50 Dinar note that already exists?? This is what scares me.

Yes, but I am willing to bet that these notes did not get circulated - at 1170 per dinar, what would one in Iraq possibly purchase with a 50 dinar note? 1/4 stick of gum? Maybe.

I am willing to bet 50 IQD notes were not issued, however it looks like they sold them to dealers in very large numbers. I'll be happy to turn in my three 50 dollar dinar note given to me as a bonus from the dealers. Thanks for the gift.

Also I can't wait for the GURUS to start reading these threads and then we'll see they will have to change their RATES and well hell their sheeple are going to be PISSEeeed offffff.

JW and Dana,

I am not worthy...I am not worthy!

Of course you are worthy Carrello. Bye for now gotta get the turkey on the table. nuff of this forum already! I am so freaking happy and thankful (today, I hope this isn't a joke, unofficially they called it)

Some of you need to brush up on the what PURCHASING POWER means. If the exchange rate is increased to .86 this means they can import more and offer lower prices.

[Footer]

Yes, but I am willing to bet that these notes did not get circulated - at 1170 per dinar, what would one in Iraq possibly purchase with a 50 dinar note? 1/4 stick of gum? Maybe.

I am willing to bet 50 IQD notes were not issued, however it looks like they sold them to dealers in very large numbers. I'll be happy to turn in my three 50 dollar dinar note given to me as a bonus from the dealers. Thanks for the gift.

Also I can't wait for the GURUS to start reading these threads and then we'll see they will have to change their RATES and well hell their sheeple are going to be PISSEeeed offffff.

Of course you are worthy Carrello. Bye for now gotta get the turkey on the table. nuff of this forum already! I am so freaking happy and thankful (today, I hope this isn't a joke, unofficially they called it)

So in your opinion, the 50 Dinar notes which us speculators hold right now will be traded evenly for a new 50 note which they speak of in this article? In turn, the 25,000 notes will be honoured at face value being worth $21,500?

What if it is a neutral event where the current bills are worth 1000 times less but the exchange rate icreases 1000 times? Redenomination in other words...

I'm not saying I believe in one or the other, but I believe both are possible outcomes... I just don't know what is more advantageous for Iraq to do. There are valid arguements both ways IMO.

[drlewis]

OK, Let me break it down for ya.... if the 50 dinar has a value of $43.00 that is the same as 2 of your 25k notes..............................DUH.. This is not what we want and I dont think it is what they have planned, but it is exactly what they are saying.. You will be able to trade your 2 25k notes for one new 50........Same thing they have said over and over again...

[DinarDana]

At .86 per dinar, I get $860 per million. Does someone else get something different? ....hopefully

$860,000.00

1,000,000 x .86 = 860,000.00

[E. 1999]

To me it is saying that 50 dinar will have the same purchasing power that the 50,000 dinar has now (if it was in circulation). Not that the 50 dinar and the 50,000 have the same value. So if you purchase something now and it costs 50,000 dinar when they rv it will then only cost 50 dinar. It's not saying that the 50,000 is equal to 50.

Not sure if that sounds right....it sounds good inside my head until I start typing it out

it sounded good bout 3/4 of the way in then you lost me haha

[zigmeister]

it sounded good bout 3/4 of the way in then you lost me haha

Iraq likes to lose us on the sharp right turn. We usually fall out of the car.

[unirod]

Correct if you are a Iraqi, 50 dinar = 50 dinar EXACTLY.

But here in the USA 50 dinar = 43.00 USD

So then my Electronic Dinar is worth 50 EXACTLY. I make an extra 7.00 with that theory. I would say holding Dinar in a Warka account was a smart move!!

[mrmcwhipit]

DUH, They also said the 50k note will have the same value.. $43.00

DUH they were focusing on the new 50 note not the current 50 k note so I would think that means the value has changed yes no?.

[Carrello]

$860,000.00

1,000,000 x .86 = 860,000.00

I get your calculation, and really like it a lot! But if you have a 50,000 note that has 000s removed, you have 50. Don't you have to remove 000s from the 1,000,000, in the end giving you $860.

I am probably missing something right in front of my face. Please, any commentators, don't give me a DUH! I am not stupid, I just want to understand. I think many do not understand this.

Thanks for any kind clarification.

Thanks Dana for your calculation, and I hope your turkey is working towards the soup pot by now. Take care.

[JWJW11]

I get your calculation, and really like it a lot! But if you have a 50,000 note that has 000s removed, you have 50. Don't you have to remove 000s from the 1,000,000, in the end giving you $860.

I am probably missing something right in front of my face. Please, any commentators, don't give me a DUH! I am not stupid, I just want to understand. I think many do not understand this.

Thanks for any kind clarification.

Thanks Dana for your calculation, and I hope your turkey is working towards the soup pot by now. Take care.

Hey Carrello....your scenario would be a lop.....of course what we dont want to see.

The meaning of it all to me is that it RVs at .86 which makes a 50 dinar note worth what 50k dinars equals to now which about 44$ USD for 50k worth of dinar.

[DinarDana]

So in your opinion, the 50 Dinar notes which us speculators hold right now will be traded evenly for a new 50 note which they speak of in this article? In turn, the 25,000 notes will be honoured at face value being worth $21,500?

What if it is a neutral event where the current bills are worth 1000 times less but the exchange rate icreases 1000 times? Redenomination in other words...

I'm not saying I believe in one or the other, but I believe both are possible outcomes... I just don't know what is more advantageous for Iraq to do. There are valid arguements both ways IMO.

IMO based on this particular article and my understanding of exchange rates and purchasing power my answer is our 50 IQD notes we hold outside the country will be valued at 43.00 USD and the Iraqi's 50 note will be able to purchase more goods but it will still be a 50 dinar note, but with 43.00 USD purchasing power. So the Iraqi's will pay less for goods and they will have more purchasing power. Imagine they can now buy three bags of groceries instead of 1. (hypothetically)

Now according to the article if one out of country trades in their 50 IQD the value will be 43.00 - Now based on this formula, this will mean if they honor the 25K notes out of country, yes we are holding 21.5K, for each 25,000 note we exchange. For the Iraqis who hold a 25K note it will be valued at 21,500 purchasing power and they will have to run to the bank to deposit them, thus hopefully increasing banking to more than the 9% they just reported. They will not be able to leave these bills hanging around or under the mattress and nor would you.

I am sounding awefully optimistic, but please understand, this is how I interpret this article, tomorrow they will deny they said this.

[Footer]

I get your calculation, and really like it a lot! But if you have a 50,000 note that has 000s removed, you have 50. Don't you have to remove 000s from the 1,000,000, in the end giving you $860.

I am probably missing something right in front of my face. Please, any commentators, don't give me a DUH! I am not stupid, I just want to understand. I think many do not understand this.

Thanks for any kind clarification.

Thanks Dana for your calculation, and I hope your turkey is working towards the soup pot by now. Take care.

There is no 50,000 note in existence right now. What this article is saying is that there will be a new 50 note introduced to the market that will have a value of 50,000 dinar at the current .00086 exchange rate...However they say it will be worth $43 which indicates an exchange rate of $.86 which is 1000 times mre than the current rate.

If they take 1000 times the worth off of our current bills and add 1000 times to the exchange rate while introducing low denoms, then no one has lost or gained anything... This is a redenomination. I see this as possible, but not for sure.

They on the other hand could just announce the exchange rate at $.86 and give us all face value for our bills and just take the existing bills out of circulation, which would be just dandy.

Hope that helps.

[DinarDana]

So if you have a 50k note and trade it in you will get a 50 note. that is an rd. Value neutral.. Not what we want.

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.

Not what is being said here. There are no 50,000K notes. They said the value of a 50K note will be marked as a 50 dinar - for us this is good, right now I believe a 50dinar note is worth 5.8 cents and it will be exchanged for 43.00. I have three 50 dinar notes. They are not new, just not issued in Iraq. This is what I believe this says.

[Footer]

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.

Not what is being said here. There are no 50,000K notes. They said the value of a 50K note will be marked as a 50 dinar - for us this is good, right now I believe a 50dinar note is worth 5.8 cents and it will be exchanged for 43.00. I have three 50 dinar notes. They are not new, just not issued in Iraq. This is what I believe this says.

Well they are saying a rate of $.86 here, my big, BIG question is..... Will our 25,000 notes be honored for $21,500 or be $21.50? No one knows that but a few..

[Carrello]

Hey Carrello....your scenario would be a lop.....of course what we dont want to see.

The meaning of it all to me is that it RVs at .86 which makes a 50 dinar note worth what 50k dinars equals to now which about 44$ USD for 50k worth of dinar.

I did not even want to say LOP. But thank you, JW. I appreciate your kind answer.

There is no 50,000 note in existence right now. What this article is saying is that there will be a new 50 note introduced to the market that will have a value of 50,000 dinar at the current .00086 exchange rate...However they say it will be worth $43 which indicates an exchange rate of $.86 which is 1000 times mre than the current rate.

If they take 1000 times the worth off of our current bills and add 1000 times to the exchange rate while introducing low denoms, then no one has lost or gained anything... This is a redenomination. I see this as possible, but not for sure.

They on the other hand could just announce the exchange rate at $.86 and give us all face value for our bills and just take the existing bills out of circulation, which would be just dandy.

Hope that helps.

Thank you, Footer. Got it. The "no 50,000" got me.

[sonny1]

there saying a 50,000 will be a 50 note, then the value will be $43.00, so a 50 will be worth $43.00. that means rv...... no lop doctor can spin that one......pretty simple....

[pontiyak]

My head hurts.... I think DinarDana is on the right track, as well as Footer...

Nice thread...wow so many possibilities.

The best things in life RV

yak

[Footer]

there saying a 50,000 will be a 50 note, then the value will be $43.00, so a 50 will be worth $43.00. that means rv...... no lop doctor can spin that one......pretty simple....

Hi sonny, I respect what you say as I have been a guest for a long time here and just decided to join today. Thanks for all your opinions in the past!

Anyway, please don't make me out as a lopper, but could they just mean the new 50 note will be worth $43 and the old one $.05? Consequently the 25,000 being $21.50?

I want an RV so bad I can taste it!! But the redenomination seems a real possibility to me here... I don't know what is more advantageous for Iraq and the big players... Any thoughts? Thanks.

Edited November 24, 2011 by Footer