(ICB) has confirmed it will issue a new bill with a value of 50,000 IQD ($43) but marked as 50 dinars.

[zigmeister]

Interesting... You made me expand my thoughts on my analogy of " I saw a bus running to school"... If this is their method of propaganda, to give the truth but word it so that it can be taken 2 ways, then in the end no matter what the outcome, they have told the truth. They can shrug their shoulders and say "well we told you all along" when in fact, they did...

Thanks for the thought provoking chat! Plus one for you... Have a great day!

Exactly! I think you hit the nail on the head.

[Papster]

they can cover money with money (if that makes sense) they have twice the amount of dinar in house than out, they will rv and make trillions off of this, if you dont try to over think it like all the loppers do, it is very easy to comprehend......

so basically sonny1 what you are stating is that the dinars that CBI are buying back............with an RV will add value to their already huge reserves...........GO DINAR

[bamagirl]

they can cover money with money (if that makes sense) they have twice the amount of dinar in house than out, they will rv and make trillions off of this, if you dont try to over think it like all the loppers do, it is very easy to comprehend......

there currency will hit the open market, what the loppers dont get when they say back there dinar, its not like the dinar will rv, and iraq will send us chunks of gold for our dinar, they will cover dinar with the wealth of there dinar....

Thanks Sonny...I appreciate the response!

[zigmeister]

I noticed the change from CBI to ICB and wondered it they are about to change it to ICB. Islamic Central Bank?

[Aqua Dude]

LOL @ this thread you all have a good day.

lol @ you LOL'n

i agree Easy...people r funny

however....the UN operational rates of exchange website is DOWN...and i have never seen it down, its the type of down where you can tell they actually took it offline on purpose

http://treasury.un.org/operationalrates/OperationalRates.aspx

Edited November 28, 2011 by Aqua Dude

[Papster]

My questions is why do they say ICB and not CBI? Is it their way of denying that they said this? "We didn't say that, we're the CBI not the CIB." haha

i am wondering the same thing..........i dont think i have seen an article with ICB......GO DINAR

[Carrello]

If all the statements out of Iraq by S. and M. et al conveyed (where there are numerous videos out there... sorry no link but I remember seeing/hearing them) that they want to remove the 3 zeros from their currency then why would they add a 50,000 note. Or, like this stream says,

Iraq VALUE = 50,000

Iraq Note = 50 dinar

US value = $43

So the 50 dinar note give the iraqi people more buying power?

Out side of Iraq a the 50 dinar note is equal to $43, Yes?

Then when we exchange our 25k notes out side of Iraq... value is $21,500

This seems what they're talking about, yes?

I think their grammar is slightly backwards... similar their culture... however this is how is looks to me imvho.

Get this Damn RV DONE! My dog just went to the vet on SUNDAY... ON SUNDAY... and I'm in to it 1M dinar already (current value).

Hope it RV's soon so I can get her out!

RVVVVVVVVVVVVVVVVVVVVVVVVVVV!

GameChanger, they are not adding a 50,000 note. They are adding a bill that has the value of 50,000 but "marked" as a 50. I missed this the first time an article with this information was released too. If this is meant to educate the Iraqi people, gawd help them.

"AKnews reports that the Iraqi Central Bank (ICB) has confirmed it will issue a new bill with a value of 50,000 IQD ($43) but marked as 50 dinars."

I hope your dog is feeling good and on the road to a cheap recovery.

[sonny1]

so basically sonny1 what you are stating is that the dinars that CBI are buying back............with an RV will add value to their already huge reserves...........GO DINAR

cbi didnt release all the notes that were printed to the public. they have two to three times the amount that is in circulation in there possession, the loppers need to stop thinking they are smarter than they really are, and realize simple math. they have more than us, when it goes up they will have more money than it costs to pay the investor. that equals profit for iraq, that equals private sector-jobs, financial freedom and purchasing power for the iraqi people, which they have stated 100 times in different articles. lopping doesnt raise purchasing power, it keeps broke people broke........pretty simple.....

[keepmwlknfny]

Sonny I have wondered about that, do they really have to have a USD to back every dinar or once their currency revalues will they only have to back it with their resource and wealth potential?? I have heard so many confusing things that I'm about lost...

Being a pegged currency, they are backing the value of their dinar with the foriegn currency reserves which is made up of USD, Euro and the Yen (could be another) but none the less, if they raise the value of the dinar, they have to back it....otherwise you run into the same problem that happened with saddam...you print more money and claim a certain value, but you dont have the reserves to back it, its not recognized at that value....

There arent any countries that are a pegged currency that are using natural resources to back the value of their currency and not using foreign currency reserves....matter of fact this has never happened....could it change? Its possible....but its not been done before and there are no signs of Iraq moving in this direction so for now the value of the dinar will depend on whats in the reserves....

[Carrello]

Wow... This is such a hazy topic! Reminds me of " I saw a bus running to school"... 2 possible meanings.

Perfect. Great analogy.

[keepmwlknfny]

so basically sonny1 what you are stating is that the dinars that CBI are buying back............with an RV will add value to their already huge reserves...........GO DINAR

I wish it worked that way.....

[sonny1]

Being a pegged currency, they are backing the value of their dinar with the foriegn currency reserves which is made up of USD, Euro and the Yen (could be another) but none the less, if they raise the value of the dinar, they have to back it....otherwise you run into the same problem that happened with saddam...you print more money and claim a certain value, but you dont have the reserves to back it, its not recognized at that value....

There arent any countries that are a pegged currency that are using natural resources to back the value of their currency and not using foreign currency reserves....matter of fact this has never happened....could it change? Its possible....but its not been done before and there are no signs of Iraq moving in this direction so for now the value of the dinar will depend on whats in the reserves....

you do know there 3rd in oil, 2nd in natural gas, and in the top 5 in nickel right? there dollar is really worth as much as kuwait, they will never rv at that amount, but the lopper group (your the leader.lol) should stop trying to out think this, they can easily cover an rv, and those who say they cant, should sell there dinar and move on...........

[DinarThug]

they will rv and make trillions off of this, if you dont try to over think it like all the loppers do,

Fortunately Most of Us Don't Think Like Loppers or We Would of Never Have Gotten Into This Investment to Begin With !

Thx for post Sonny !

B)

[Carrello]

DinarBot opinion. Falsified numbers. Until the programmed rate is riscinded and actual rate disclosed this will be the case. Any Human Bean Counter (with accurate CBI data) could calculate the actual IQD value that's being withheld. Creating even more IQD speculation than already exists. Mass Speculation on currency is a Country's worse Human Nightmare come true. Not quite Mass hysteria but getting close. Hurry Shabibi Hurry.

DinarBot, are you single? I'm a Capricorn.

[sonny1]

I wish it worked that way.....

it could easily go this way, there has never been a situation like this one, and what i mean by this is.......

3rd in oil 2nd in natural gas top 5 in nickel, and had a dollar negative 1170 to the u.s dollar, it it is grossly undervalued, this could go down a number of ways, sure an rd could be possible, but it rv'ing

is way more likely in iraqs situation......

[keepmwlknfny]

you do know there 3rd in oil, 2nd in natural gas, and in the top 5 in nickel right? there dollar is really worth as much as kuwait, they will never rv at that amount, but the lopper group (your the leader.lol) should stop trying to out think this, they can easily cover an rv, and those who say they cant, should sell there dinar and move on...........

You know that all the oil and natural gas reserves they have total like almost 20 trillion dollars......

Even if they could all of a sudden use the value of all their natural resources to back the dinar, it still wouldnt cover a dollar RV.........

Thats why something has to give.....either the money supply, the GDP, or the foreign reserves....something needs to make big moves and big moves now...

[DinarThug]

DinarBot, are you single? I'm a Capricorn.

Nothing Against U Carrello but He Might be More Interested in Ur Toaster or Coffee Maker !

After it RV's He's Probably Gonna Hook Up with a Really Sweet Fem-Bot !

:D

[sonny1]

You know that all the oil and natural gas reserves they have total like almost 20 trillion dollars......

Even if they could all of a sudden use the value of all their natural resources to back the dinar, it still wouldnt cover a dollar RV.........

Thats why something has to give.....either the money supply, the GDP, or the foreign reserves....something needs to make big moves and big moves now...

thats why i keep stating that they will use there dinar to pay for the rv, there money goes up as well not just the investors. there natural resources will be used to balance there dinar in the future.

[truthful1]

Sonny1, the so-called loppers are looking at these articles put out by the cbi. they seem to be doing a good job of speaking of a traditional rd. were just debating what there putting out. obviosly no one wants a lop and many are confused with theee articles. smoke and mirrors, maybe. just remember, the only reason a lop is talked about is because the articles closely resemble justs that. go rv

[reveldog]

will we be able to purchase this new note ?

[Carrello]

Interesting... You made me expand my thoughts on my analogy of " I saw a bus running to school"... If this is their method of propaganda, to give the truth but word it so that it can be taken 2 ways, then in the end no matter what the outcome, they have told the truth. They can shrug their shoulders and say "well we told you all along" when in fact, they did...

Thanks for the thought provoking chat! Plus one for you... Have a great day!

+1s for you and Zig. Thank you. You took a baffling scenario and turned it into something thought provoking and fun. And Zig, I think you are right on regarding Bugs. The Iraqis may think we are being spoofed, but they forget we created Bugs Bunny.

[JWJW11]

It doesn't. You can't cover a currency with more of the same currency. If that made any sense at all, or was at all possible, why wouldn't every CB just print 500 trillion in currency and then leave half of it in their vaults to "cover" it?

Cause they dont have the resources to back it

[Carrello]

lol @ you LOL'n

i agree Easy...people r funny

however....the UN operational rates of exchange website is DOWN...and i have never seen it down, its the type of down where you can tell they actually took it offline on purpose

http://treasury.un.org/operationalrates/OperationalRates.aspx

If the site is still down, then it has been down for days. There is a post about that started probably 3 days ago, I believe it was in Questions.

[lotsofdinar]

Let me see if I understand the reasoning. Iraq is going to peg its currency to its natural resources, even though as Iraq releases more and more of their oil and minerals into the world the value of those assets will likely decrease? Supply and demand. How do you peg anything to something that volatile? Would they have to revalue weekly? Monthly? Just doesn't make sense to me.

[Papster]

The dinar isn't undervalued by 100 times, let alone 1000 times. Maybe 2 or 3 times, at best.

wow.........are you sure about that.........i dont think so..........GO DINAR