Med: Well first the good news....no new larger notes which would have been a semi disaster......they would have confused everyone in Iraq.....You promote that you are deleting zero's for years so that they can improve the value of the dinar......then you say forget it.....
we are just gonna give you larger notes so it seems your carrying less......Most know that I have always made an issue of CBI or the Parliamentary Finance giving out so much information on the change in the nominal value of the dinar to the USD....
this is something that is suppose to be secretive so it does not increase speculation and damage what they are trying to do.......
Read More Link On Right
TUDOR:. Why would Turki admit he cant handle any of this, SMOKE seems to be getting thicker.....I am waiting for the RV, not giving up, its coming!
TUDOR: I also read harry's, and I believe they are trying to smoke us into retreating from dinar. Why would they say we cant do it, that is not what Iraq does, they dont talk in the negative unless they plan on doing the opposite. I am staying positive that we are about to see this RV happen. Just my thoughts..........
Dinar Investor: Lightbulb !Re: Central Bank confirms its inability to delete the zeros of the Iraqi currency
Quote Originally Posted by harry View Post
"and" The central bank is unable to control the foreign currency flowing into Iraq and some of them may be false because Iraq has become an open market and the money will be transferred by banking offices and remittances, and by people traveling to and from Iraq. "
THESE PEOPLE ARE SOO BAD AT LYING!!!!
THE LAST SENTENCE TOTALLY CONTRADICTS THE WHOLE ARTICLE....
LETS BREAK THIS DOWN PIECE BY PIECE (AGAIN THIS IS MY OPINION)
FIRST SENTENCE: "and" The central bank is unable to control the foreign currency flowing into Iraq and some of them may be false because Iraq has become an open market
TOTALLY CONTRADICTS THEIR STATEMENT OF NOT BEING ABLE TO CONTROL FOREIGN CURRENCY, THEY ARE BASICALLY SAYING THEY CAN CONTROL THE FLOW OF CURRENCY ENTERING IRAQ,
ONLY BECAUSE SOME FOREIGN BUSINESSES ARE ALREADY IN IRAQ.
THEY ARE ALREADY ALLOWING FOREIGN COMPANIES IN IRAQ BEFORE THEY REVALUE.
IT MIGHT NOT SEEM LIKE A SOLID OPPORTUNITY BECAUSE THEY HAVEN'T REVALUED YET BUT ANY EDUCATED ECONOMIST CAN TELL THAT WITH WHAT IRAQ HAS IN RAW NATURAL MATERIALS THAT IRAQ WILL BE PROSPEROUS THEY WERE IN THE PASSED WHY NOT NOW???
SECOND SENTENCE: the money will be transferred by banking offices and remittances, and by people traveling to and from Iraq. "
FIRST OFF LETS LOOK AT THE DEFINITION REMITTANCE AS DEFINED BY SEVERAL DIFFERENT WEBSITES:
noun: remittance; plural noun: remittances
1.a sum of money sent, esp. by mail, in payment for goods or services or as a gift.
FROM WIKIPEDIA: (http://en.wikipedia.org/wiki/Remittance)
A remittance is a transfer of money by a foreign worker to his or her home country or simply sending an amount of money from one country to another.
(NOTE: JUST LIKE WHAT IS USED BY DEVELOPED ECONOMIC COUNTRIES, WESTERN UNION...SOUND FAMILIAR????
Investopedia explains 'Remittance'
When a person sends a check to the government to pay for a tax bill, the check is remittance to remove the tax obligation. If you were to send money to a friend in Europe through a wire-transfer service, the sum of the payment is the remittance.
OK SO THEY HAVE SET UP A SYSTEM FOR WIRE TRANSFER INTERNATIONALLY FOR PAYING BILLS FOR LEGAL THINGS..... STARTING TO SOUND LIKE A DEVELOPING COUNTRY IN THE MAKING YET???
NOW THE FIRST PART OF THAT SAME SENTENCE: the money will be transferred by banking offices
OK SO TO ME THIS SOUNDS LIKE THEY ARE SETTING UP OR ALREADY HAVE A SYSTEM IN PLACE TO TRANSFER MONEY TO AND FROM OTHER BANKS.
REMEMBER THE ARTICLE RECENTLY ABOUT THE 50,000 DINAR NOTE???
INTER BANK TRANSFERS SOUND FAMILIAR??
WE USED TO HAVE THAT IN THE EARLIER YEARS OF THE U.S. FOR INTER BANK TRANSFERS BY THE U.S. TREASURY WHICH WHERE LARGE DENOMINATION NOTES
USED INTERNALLY AND NOT BY THE GENERAL PUBLIC AS TO TRANSFER FUNDS TO PLACES WITHOUT A TON OF BAGS OF CURRENCY BEING TRANSFERRED. AS SEEN HERE...link just below
THATS JUST MY TAKE ON THIS....TAKE IT WITH A GRAIN OF SALT BUT IT ALL MAKES PERFECT SENSE TO ME!!!
United States currency denominations above $100 are not available from the Department of the Treasury, the Federal Reserve System, or the Bureau of Engraving and Printing. On July 14, 1969, the Department of the Treasury and the Federal Reserve System announced that currency notes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued immediately due to lack of use. Although they were issued until 1969, they were last printed in 1945.
These notes are legal tender and may be found in circulation today; however, most notes still in circulation are probably in the hands of private numismatic dealers and collectors. If you are interested in purchasing or learning more about these larger denominations, more resources may be available online or at your local library.
The largest note ever printed by the Bureau of Engraving and Printing was the $100,000 Gold Certificate, Series 1934. These notes were printed from December 18, 1934 through January 9, 1935 and were issued by the Treasurer of the United States to Federal Reserve Banks (FRB) only against an equal amount of gold bullion held by the Treasury. These notes were used for transactions between FRBs and were not circulated among the general public.
Dinar Investor: Iv'e always have been under the impression like Tudor that they are just trying to scare away speculation because it's bad for their capital.
We have numerous articles over the years telling us their intent. They are planning on to revalue we all know this. They put out the negative articles out right after they put out an article stating what they are planning to do. Iraqi media is not really good at scaring away speculation.
If you want to scare away speculators don't post online your clear intent that you want to rv then put out a negative article straight after. We are not as stupid as the Iraqi education we are smart educated people LOL!!!!
ARTICLE BEING DISCUSSED:
December 8, 2013 in economic Baghdad: Iraq News Network -
The Central Bank of inability to delete the zeros of the Iraqi currency, or add new banknotes, for fear of confusing the Iraqi market.
Source confirmed early in the management of the central bank, "the world", that "the head of the central bank, and after consultation with officials and advisers in the bank, decided to postpone any new process related to the currency monetary Iraq, including add categories and a new paper or delete the zeros.
"the source said," was to raise this issue in one of the sessions of the Council of Ministers, which hosted during which the central bank head and talked about the obstacles that can affect the levels of the market and the Iraqi economy in general, considering that the Iraqi experience does not resemble the experiences of other countries.
"and" The central bank is unable to control the foreign currency flowing into Iraq and some of them may be false because Iraq has become an open market and the money will be transferred by banking offices and remittances, and by people traveling to and from Iraq. " LINK