Millionday Monday Newstime 11/16/15 Part 1 of 2
WELCOME TO MILLIONDAY NEWSTIME AT DINARUPDATES.COM
Millionday: THIS IS WHAT CBI SAYS ABOUT THE 50,000 DINAR -- READ EVERY WORDMillionday: The Central Bank of Iraq, Sunday, that the issuance of 50 thousand dinars category paves the way for the deletion of zeros from the currency, and among it will reduce the demand for the dollar, he pointed out that there is no link to the financial crisis with the new version.
Millionday: NOTE -- IT IS PAVING THE WAY TO PULL THE THREE ZERO CURRENCY AND IS PART OF THE NEW VERSION
Millionday: A member of the Board of Directors of the Bank Ihsan al-Yasiri in an interview with the program "a quarter of an hour," which aired Alsumaria TV, "The issuance of 50 thousand dinars category and think about the issuance of 100 thousand dinars category is a project that is not fortuitous, but put up since 2007," attributing the release as " there is a problem in banknotes sequence as the highest category of cash
Millionday: NOTE -- THIS WAS PART OF THE PLAN FOR YEARS
Millionday: The Yasiri, that "the issuance of the new currency will facilitate a lot of transactions, and will contribute to reducing the demand for the dollar, at least in transactions," stressing that "no income for the government to issue category, not to project any connection with the financial crisis or deflation and inflation."
Millionday: NOTE -- AS WE HAVE READ MANY TIMES --- THE NEW DINAR SERIES WILL REDUCE THE DEMAND FOR THE US DOLLAR
Millionday: He explained Yasiri, that "issuance of 50 thousand dinars category, and our thinking by issuing 100 thousand dinars category is one of the preliminary steps for the project to delete the zeros",
adding that "the project to delete the zeros needs to be action extends for more than a year."
On the other hand, stressed Yasiri, "not to the federal government's ability to withdraw funds from the reserve which is the cornerstone of the bank", pointing at the same time to "the existence of alternative solutions to the financial crisis experienced by the country."
Millionday: NOTE -- IT COULD TAKE A YEAR FOR IRAQ TO HAVE ALL THE THREE ZERO CURRENCY RETURNED TO THEM
Millionday: >>>>>>>>>>>>>>>>The central bank announced (November 11, 2015) for issuing a new banknote category of 50 thousand dinars, attributing this to the completion of the Iraqi Securities monetary structure and the development of high value in the trading category.
Millionday: SO THIS IS PART OF THE MONETARY STRUCTURE AND DEVELOPMENT
plowboy: I'm sorry, if they revalue and its worth lots of dollars per dinar, why on earth would they want a 50K note? I thought they were clamoring for lower denoms.
Millionday: THEY ARE INCLUSIVE OF THE SMALL DENOMS AND COINS ACCORDING TO WHAT I HAVE READ AND BROUGHT IN REPORTS ---
IT IS THE SAME REASON THAT WE IN AMERICA HAVE 100,000 NOTES -- ECONOMICS AND MONETARY POLICY DEVELOPMENT
Millionday: THE PRICES OF PRODUCTS IS WHAT RAISES THE DEMAND FOR WHAT DENOM --- IT IS NOT A PROBLEM THAT THEY ARE RELEASING THE 50,000 -- IT IS PART OF THE ENTIRE PLAN -- MEANING THIS IS GOOD NEWS
Holly1: so it will be another year for them to get the notes in ... what about are note the same ? I don't understand ..... IT COULD TAKE A YEAR FOR IRAQ TO HAVE ALL THE THREE ZERO CURRENCY RETURNED TO THEM... I am trying my best millionday to figure this Iraqi thing out
Millionday: LET ME EXPLAIN WHAT I MEAN ---- IF YOU OPEN YOUR WALLET AND IT IS FULL OF $100 NOTES --- SOME ARE BLUE AND SOME ARE GREEN AND IT COULD BE THAT WAY FOR A WHILE -- YEARS --- WE HAVE CURRENCY HERE AND MANY IRAQIS HAVE CURRENCY ETC MEANING THE DINAR --- IT COULD TAKE A YEAR BEFORE ALL IT IS TURNED IN
Millionday: WE READ REPORTS OF THEM HAVING A WAY READY TO DESTROY THEM A LONG TIME AGO -- BUT EVERY STEP IS NOT KNOWN YET
Holly1: oh I got it ... all notes ... pulled in .... Thanks bunches DUH! slow on that one millionday ... and ty ....
quicktolegit96: BASED ON YOUR ABOVE STATEMENT, IT COULD POTENTIALLY TAKE A YEAR FOR THE DINAR TO REACH $1....DRAWING IN NOTES WILL INCREASE THE VALUE OVER TIME....
THIS IS IF THEY DO A FLOAT WHICH SOUNDS LIKE THAT IS WHAT IS GOING ON...
Millionday: BASED ON WHAT I WAS SAYING -- I AM REFERRING TO THE ACTUAL NOTES BEING ALL TURNED IN TO CBI --- NOTHING TO DO WITH A FLOAT OR RATE ---- IT IS NOTHING TO DO AT ALL
quicktolegit96: SO U ARE TALKING ABOUT "ALL 000" NOTES?
Millionday: OR ANY OF THE SERIES THEY WANT TO GET BACK AND CHANGE
quicktolegit96: TY, MAKES SENSE
Millionday: THE BILLS THEMSELVES IS WHAT THEY ARE MEANING
Nadita: so this is basically to reduce the note count..???
Millionday: YES IMO IT IS ABOUT BRING IN THE CURRENCY THEY CALL -- THE THREE ZERO CURRENCY
Holly1: because like i read instead of having 30 papers in your pocket you have a card or a few dollars ?
Millionday: CORRECTION --------- THE US DOLLAR DENOMINATION THAT IS LARGEST IS 10,000
Millionday: NOT EVEN CLOSE HOLLY -- I WAS HOPING YOU DID -- LOL
plowboy: but how does issuing 50K and 100K help pull them in? It looks like it would only add to the problem.
Millionday: WHEN THEY RELEASED THE PLAN TO HAVE THE 50,000 YEARS AGO -- THEY STATED FOR STRATEGIC REASONS --- IT DID NOT APPEAR THEY WILL BE PART OF THE PLANNED CIRCULATION
maine: so they may only do this in stages so that we cant exchange all at once> could that happen?
Millionday: THE ONLY REASON WE WOULD EXCHANGE WOULD BE FOR THE RELEASE OF THE INTERNATIONAL CURRENCY RATES --- PAIRING
Millionday: THIS IS ALL ABOUT IN COUNTRY AS THEY INTRODUCE THE ECONOMIC REFORM
maine: yes but if we have 1000 250k etc they will do all of them?
Millionday: THE GOAL TO MOVE TO A MARKET ECONOMY WILL REQUIRE INTERNATIONAL PRICES AND VALUES FOR ALL CURRENCY FOR FAIR TRADE AND WTO COMPLIANCE BY WHAT I HAVE READ FOR ACTIVE MEMBERS
Boomshakalaka: so are you saying that we could be at this for another year?
Millionday: NO -- I AM SAYING THAT THE REPORT IS STATING THAT IT COULD TAKE A YEAR BEFORE THE CBI WORKERS THAT WILL DESTROY ALL THE OLD CURRENCY HAS THEM ALL IN THEIR HANDS
puffdragon: So as the rv brings buying power the large denoms will be faded out due to the purchasing power and bring traded in for lower denoms is that a good assessment MD ?
puffdragon: Clarification, large denoms being exchanged for the lower denoms !
Millionday: GOOD POINT PUFF
Millionday: THE BUYING POWER AND HIGHTENED VALUE OF THE DINAR WILL BE A RESULT OF TRADE ETC BUT ALSO FROM THE GLOBAL PRICING INDEX BEING CALCULATED ----
THE DEMAND FOR THE DENOMINATION COMES FROM THE PRICES AND A MARKET ECONOMY -- GLOBALLY ---- REQUIRES FAIR TRADE ACCORDING TO THE INTERNATIONAL EQUATION THAT DETERMINES THE FLUXUATION ON THE FOREX MARKET FOR ALL CURRENCIES ---
THE DINAR WOULD NEED TO BE CALCULATED TO ITS TRUE VALUE FOR THEM TO GO TO A MARKET ECONOMY
quicktolegit96: IYO, DO U SEE AT THE END OF THE YEAR, THE RATE BEING MORE THAN WHAT THEY INITIALLY STARTED WITH?
quicktolegit96: EX. STARTING AT 1 AND POSSIBLY BEING IN THE 3'S
Millionday: I DONT KNOW QUICK -- SMILE
Millionday: THAT IS NOT WHAT WILL HAPPEN IMO
Millionday: ON THE MARKET DUE TO THE WEALTH IN IRAQ -- THE DINAR WOULD BE BOUGHT UP DUE TO THE INTELLIGENT PEOPLE THAT WOULD KNOW THE VALUE WOULD RAISE DUE TO DEVELOPMENT AND ALSO RESOURCES OF MANY TYPES -- ALSO THE DEVELOPMENT THAT IS BEING DONE -- AND IT IS A LOT
jtank: no rate lol
jtank: anything below a dollar won't help?
Millionday: HELP WHO?
jtank: iraq debt, funny, all
Millionday: WE WILL HAVE TO WAIT AND SEE WHAT THE PLANNED RATE IS OF CBI
Comments may be made at the end of Part 2 Thank You