Post From KTFA by Memphis » April 7th, 2014,
"Began minting metal in the seventh century BC, while minted the first coin in (Lydia) and were made of gold, silver..."
This ring a bell with anyone? Several weeks ago I mentioned Lydia in a post. As this article states they were the 1st nation state to ever mint coin of precious metals.
The importance to us (by way of reminder) is that even then with an "asset backed" currency, touted as the answer to all the world's ailments, the currency of Lydia became debased.
Given all the misguided talk about asset backed or gold backed monies today this topic is of supreme importance to all of us. We need this ingrained into our thinking!
Anytime gov't controls the money this will happen. Why does history repeat, always?
Yep that's right, man's corrupt nature does not change.
As Lydia became indebted thru war with their neighbor the gov't slowly, over time, issued new iterations of money with less and less gold/silver until the money was pure fiat and only worth ANYTHING because the citizen's BELIEVED it had value.
It a cycle that we are witnessing, nothing more. Blessings, Memphis
Bandit wrote on April 6th, 2014, 11:06 pm: Nine DIN .... 9di ...!
Jawad Tunisian Monday, April 7, 2014
Began minting metal in the seventh century BC, while minted the first coin in (Lydia) and were made of gold, silver and Alaltrom, copper, came this invention on the orders of the state later moved to Greece, and the coin is the coin of the solids that are uniform in weight and produced in large quantities in order to facilitate trade and daily trading simple collection and Alastosmaralamadena used to pay wages and buying and selling on the grounds it is a symbol of legal currency, and since the foot associated with this coin money.
Fired on the currency at the time designation (9di-- Nine DIN) which is the oldest coins with the required quality, and after the development and spread of the currency until it reached China and Korea and Japan and has become the currency of Civil more prevalent in Rome in 269 BC, so I moved over time to India and was called (Indian wild) and traded with the Indians to the Iraqis that silent (pubic) Iraqi property.
The metals are used in the early stage of civilization for money and was suitable for this purpose due to their intrinsic value and durability and usability of the split and the discharge of the currency lower, and the best minerals are gold, silver, platinum, copper, tin, nickel, aluminum, zinc, iron, and their alloys mixed with gold, silver, copper and nickel are the best combination for currency.
The pubic Iraq are also currency monetary metal equal to 4 fils was Ttgze and acted to Vlassan including copper coin called (Abu Filsin) and it was our folks compare bad debased Bana, say humans vulgar (You Are What You Zuo Ana),
and she and penny and Filsin Musrova daily at school We buy them what we need from the shop school, and when the late Abdul Karim Qasim to improve the economic situation and standard of living of the Iraqi people
and the nationalization of oil and agricultural reform in the decision to him in raising the financial value of the pubic to become a five fils to support the purchasing power of the Iraqi currency at the time and went out crowds of Iraqis in the streets chanting
chanting (lived leader Alsud pubic Fils) were our mothers celebrate the work of the (bread Abbas and Jay and cakes) to mark and celebrate the increasing currency penny to change my this was the value of the currency, and there was a pocket in front of me small in all trousers dedicated a portfolio of these coins.
The Iraqi dinar is the official currency of Iraq and issued by the Central Bank of Iraq and the Dinar is divided into 1000 fils, but the high inflation rates in Awakhralqrn century caused the abandonment of coins
metal was minted in fils and the pubic and the Koran _ coin worth 20 fils _ DRAM that has reached the value of the coin to (100 fils 0.250 fils 0.500 fils, until I got to the coin _ _ dinars.
Replace the Iraqi dinar in 1932 (Barabah Indian) at a rate of one dinar = 13 Rupees was wild Hindi is the official currency of Iraq since the British occupation,
and then linking the Iraqi dinar in pounds sterling in 1959 after the revolution of July 14, where the central bank decided to Iraqi linked to the U.S. dollar, unchanged, its value at a rate of one dinar = 2.8 dollars
and in 1970 the United States has taken a decision to reduce the value of its currency by 7.9 in 1973 reduced by 10% did not follow the Iraqis who are linking their currency in dollars,
making the rise of the Iraqi dinar against the dollar to become worth 3,377 and was called the dinar Iraqi (Baldanarasuezra) where he was the Iraqi dinar thread Silver Aozhba in the rest of the currencies of high Kalkhmsh dinars
and they call it (the Order of Abu five) as well as the coin (ten dinars) where include banknote image hidden affected by light as if to be an eagle or a Palm or horse disappears and also shows a more complex fraud.
But after Iraq's occupation of Kuwait and the imposition of international economic sanctions and blockade, which lasted 13 years and the rise of inflation and raise the international cover of the Iraqi dinar and the abolition of the editions of Switzerland,
took the paper currency manufactured locally from pulp poor affected by damage panning and affected by the bacteria and the age of that currency does not exceed the year,
and exposed to fraud easily and can be printed and reproduced in printing presses and this is what happened in the big fraud toppled the Iraqi economy a lot, and we were when we buy a shoe on,
but not limited needs to pay the price of that article into a big bag puzzled and preoccupied with her pregnancy and counted and mostly false.
The currency for the time being affected by the use of sustainable and prone to damage rapidly lost from circulation coins (50 KD 0.100 dinars), paper and remained category (250 dinars 0.500 dinars, 1,000 dinars) only for circulation daily fast becoming cases of inflation and high Alasaruxiaodh allowances and salaries,
which have become millions and the existence of cases of fraud makes the currency sometimes worthless and you buy a casual suit for $ 120 thousand, equivalent to $ 100 should be on economic actors
and Bank Iraqi Central to put appropriate solutions to this problem and that is to raise zeros from the currency becomes one million dinars (thousand dinars) and punching Coins as is the case in all countries of the world for trading and daily use Kajor transportation or buy some needs or other uses.
As they said:
(Bug delay in the race that there are more efficiencies lacks sincerity and integrity ..... and there are a lot of faith lacks efficiency) .... and now we need to coin Caldarham dinar, and the need to raise Alasfarlarjaa prestige and value of the Iraqi dinar, and God have mercy on day anytime ...!