Millionday Roundtable 5/13/15 Part 2
Welcome to dinarupdates.com for Roundtable with Millionday!!
pinsetter: what do you mean by going live? it is already open, did i miss something
mike05: I think it means international
Millionday: THEY HAVE THE SECODNARY MARKET SET UP BUT I DONT SEE GLOBAL INVESTMENT
Millionday: GOOD POINT MIKE
poppy3: all news INDICATING THE CHANGE IN VALUE CAN CHANGE AT ANYTIME AND THIS HAS BEEN TRUE FOR THE LAST FEW WEEKS.
SOURCES HERE AND THERE ALL AGREE THIS PROCESS IS IN FULL AHEAD MOTION WITH NO ONE THINGS HOLDING THEM UP.
ALL NEEDED FOR THE NEW RATE IS ALREADY COMPLETED ALL THEY NEED IS IMPLIMENTATION AND MUCH OF THEM WILL OCCUR TOGETHER.
I DO KNOW SOME FURTHER BANKING CHANGES ARE BEING MADE THIS WEEK BUT HEARD THEY ARE NOT CHANGES THAT THE NEW RATE WOULD BE HELD UP FOR.
TIME WILL TELL BUT I AM VERY RELAXED WITH ALL NEWS BEING IN OUR FAVOR. POPPY3
pinsetter: i would presume its the new system they put in last year but have never used
Millionday: EXACTLY -- WE HAVE READ MANY MANY REPORTS STATING THAT THIS IS READY AND TO BE IMPLEMENTED ---- GOOD POINT -- WE ARE MISSING THE DATE ---
mike05: Is there a time frame in terms of how long the things that will go all together as poppy said?
mike05: like once it starts
Millionday: NO THEY ARE NOT RELEASING A TIME LINE BUT IT WILL BE ALL AT ONCE TO KEEP IT CONSTITUTIONAL AND LEGAL
Millionday: The Economic Adviser to the Iraqi Prime Minister Muhammad Saleh issued a statement that the Iraqi Central Bank has finalized printing large cash categories banknotes in order to reform its monetary policy.
Millionday: It would also support the economy of Iraq. The Iraqi market needs large denomination bank notes and this project would help in reducing the weight of currency for transferring currencies one place to another.
He also pointed out that printing new currency is not a part of monetary policy of the Central Bank but, it would provide an ease in the payment system and management.
Millionday: NOTE -- THE LARGE DENOMS IS >>>>>NOT<<<<< PART OF THE MONETARY POLICY RIGHT FROM SALEH`S MOUTH
Millionday: The Iraqi Central Bank’s Governor announced prior to the Economic and Investment Commission statement, in the House of Representatives that the Central Bank of Iraq has finalized for the execution of its project of printing new Iraqi dinar currency to stabilize and maintain the Iraqi economy and to stabilize the Iraqi dinar currency.
Millionday: NOTE -- THEY ARE PRINTING NEW DENOMS --
Millionday: MY OPINION PROBABLY WILL BE THROWN TO THE WOLVES BUT I WILL TELL YOU MY OPINION
-- I THINK THAT THE LARGE ONES ARE TO NOT LOWER HOW MUCH CURRENCY THEY ACTUALLY HOLD –
AND THE LARGE NOTES WILL BE TO COUNT WHAT THEY HOLD AND THAT IS THE ONLY WAY THEY WOULD CHANGE THE DENOMS ECT ---
THE REMAIN RICH WITH CURRENCY AND FOR AGREEMENTS THEY HAVE MADE
Millionday: Printing new Iraqi dinar currency of 50, 000 Iraqi dinar category will improve the efficiency in the Iraqi payment system. This new currency will be available very soon for the people of Iraq.
Millionday: I BET THEY USE THEM AND ALSO CHANGE THE CURRENCY THEY USE ON THE STREETS
Millionday: BUT WE WILL SEE
mike05: So the large denom's then will not be released to the "public"? Just for banking use?
Millionday: THAT IS WHAT I GATHER -- I WOULD SAY -- YES -- STRATEGIC PURPOSES
efriscone: Maybe the banks will use to consolidate all the smaller demons in or to process the new rate easier?
Millionday: THAT MAKES SENSE TO ME -- VERY PROUD CULTURE AND ALSO VERY STERN IN WHAT THEY WILL DO -- THEY MAKE TAKE IT AS A LOSS -- AND REFUSE BUT WE SHALL SEE
Cricket22 Is that 50,000 dinar a good thing?
Millionday YES SALEH SAYS IT IS ALMOST DONE AND THEY WILL NOT BE DISTRIBUTED ----
jtank : use the 50k to remove the smaller zeros then have half amount in circulation
CanTWaitwoRV : wouldn't be ironic if the iraqi's are being educated on what kind of ROI they'll receive investing in the sovereign bonds about to be issued..similar to treasury notes if the scenario was reversed speaking to americans that might not be educated in how to invest in bonds tbills
Millionday I KNOW THAT IS NOT HOW ECONOMICS WORKS BUT WE ARE TALKING ABOUT IRAQ -- IT SURE HAS TAKEN A LOT OF MEETINGS TO GET SOMETHING COMMON DONE
Millionday I AGREE -- THEY ARE IN THE PAST SO FAR THAT THEY HAVE TO BE TAUGHT ALL NEW CONCEPTS IMO
Millionday JTANK -- BINGO
Millionday MAKES SENSE TO ME EVEN THOUGH IT IS NOT LOGICAL --- ECONOMICALLY
Millionday HOWEVER IT COULD WORK AND IS ALMOST DONE AND TO REMOVE THE THREE ZEROS ? -- HOW DOES THAT MAKE SENSE -- ONLY ONE WAY IMO
jtank same amount in circulation
Millionday: IT SEEMS SILLY TO THE EDUCATED BUT THIS IS IRAQ
Millionday: Parliamentary sources and others close to the Iraqi Central Bank, said that a government committee competent ended with a decision of new cash paper currency printing of fifty thousand dinars category ($ 42), in light of the challenges facing the Iraqi dinar and strength of the local and global market.
Millionday: NOTE -- DO YOU SEE THAT ? STRENGTH OF THE LOCAL AND >>>GLOBAL MARKET
Millionday: NOTE -- SO DONT FREAK OUT OR WORRY
Millionday: The member of the Committee of Economy in Parliament , Nora Albjara, in a press conference Wednesday, said a specialized committee formed from the central bank, decided to cancel the idea to delete the zeros of the coins from the category of thousand dinars and 10 thousand dinars;
as an option taken previously to combat inflation, and the challenges of the Iraqi currency, due to market instability and put the dinar who exposed himself to continuing declines against the dollar.
Millionday: NOTE-- BILLS TRANSLATE TO COINS SOMETIMES
Millionday: She Albjara, the Committee decided instead to print a new financial category worth fifty thousand dinars. The highest category of cash in Iraq is twenty-five thousand dinars paper, known red paper.
The suffering Iraqi citizens, private traders, the question of buying and selling, where usually carry three large bags of Iraqi coins to buy a mid-priced car.
Millionday: and requires the purchase of a TV at a price of half a million dinars carry average bag or possession citizen large enclave, can put your money with them if the amount of class thousand dinars or 250 dinars cash currency.
Albjara confirmed that the 'Bank for printed hundred thousand dinars category until further notice, until the end of print fifty-class project Thousand dinars'.
billionaire: Have you seen the article on this same subject from 2011?
Millionday: BRB LET ME LOOK AT IT
Millionday: EXACTLY BILL --- THEY HAVE DESIGNED THEM AS WELL –
IT AMAZES ME THAT SO MANY OF US WERE HERE WHEN THEY SHOWED THEM AND DESIGNED THEM -- AND TALKED ABOIT THEIR PRINTING AND NOW --- HAVE NO CLUE ABOUT THEM
Millionday: I HAVE THOUGHT MAYBE VITAMINS WOULD HELP LOL
Millionday: THE THING IS THEY ARE SAYING THEY ARE ABOUT DONE AND READY TO MOVE FORWARD WITHT HE MONETARY POLICY
Millionday: DO NOT MISS NEWS -- LOTS BEING SAID THAT WE HAVE WAITED TO HEAR