The CBI is ready...they are doing and defending each and every day. Be patient – it's a process – its moving forward and we are happy with the process.
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The people of Iraq are being told of the deletion of the zeroes ( phase 2 ) And yes they know the time frame also. Shabibi, Saleh and the CBI has stated they want to reduce the value of the USD. They can only achieve this by raising the value of the IQD. They could expeditite this at any time saying that it is needed now and can not wait
7-20-2012 Breitling: The dinar is 1166 but the nominal value is .00086. When you remove the 3 zeros or the thousandth positions, they are now brought in ine with the nominal value of the USD 1.17 DINARS = 1 US DOLLAR OR .86 CENTS. Print in September, distribute in January, just below a buck.
PARTY TIME REPLIES TO BREITLING:
Correct. It would be 1.17 dinar to $1 USD or 1 dinar to 86 cents. This will be required to maintain the same value and have no effect on the value of the dinar. Numerous articles have clearly stated the new currency will have NO EFFECT on the value. This is exactly what this means and must happen in order to have no effect on the value.
Where it would have an effect in any value is only if the old currency with the 3 zeros will still be TREATED AS having 1,000, 5,000, 10,000, or 25,000 dinars where they won't TREAT those old notes as only being worth 1, 5, 10, or 25 dinar.
If they TREAT the 25,000 dinar note as still being 25,000 dinars then you will get 25,000 dinar X 86 cents.
If they TREAT the 25,000 dinar note as now being only worth 25 dinar you will only get 25 dinar X 86 cents.
The million dollar mystery question is HOW will they TREAT the old notes with 3 zeros? Will they TREAT them as still being worth 25,000 dinar OR will they TREAT the 25,000 dinar note as IF it is now a new 25 dinar note? This is the one thing they have NEVER addressed nor said anything about!
The gurus all seem to have based their claims on the mere fact articles have stated the two currencies will COEXIST. But just because they coexist, that in itself does NOT say how the old currency notes will be TREATED when they accept them to be exchanged!
The MAY accept the old 25,000 note as still being a 25,000 dinar note where you would be able to exchange it as still being worth 25,000 dinars X the new rate, OR, they MAY just TREAT the 25,000 dinar note as only being worth 25 new dinar X the new rate!
No articles have ever stated anything as to how the old notes will be TREATED when you go to exchange them after they release the new currency!