Tlar Article: "Iraq issued a new currency with a high security specifications" ...in addition to the fact that this article states that the new 250, 500 and 1000 are already printed and beginning to circulate, there is one sentence that also confirms what I have been saying for months... Quote “Al-yasseri said the total value of banknotes to be printed about five trillion dinars (2.7 billion dollars) and will inject trading instead of categories used gradually.”
The CBI only printed 5 trillion dinars which is meant to cover all the dinar left circulating in Iraq. If there had been 35 trillion as some have suggested because that is a news stock number repeated over and over in articles, they would have printed 35 trillion because their intention is to replace everything in circulation pulling the old notes out.
35 million is every note that has ever been let out of the CBI including the ones you and I hold
In 2012 Saleh told us there was only 4 trillion circulating and I am absolutely sure that 5 trillion dinars is more than adequately able to handle what’s left with many just being printed in case.
What is circulating is less 5 trillion made up of 250′s, 500′s and 1000′s or less. So the CBI felt it necessary only to print the 5 trillion with which will eventually replace all of them with some left over...These are the crossover notes and this printing will be the last of these notes.
The people will quickly switch to the new notes because they are afraid of the notes they carry now not being accepted in trade because they are worn, dirty, torn, tattered and written all over.
They are also saying at today’s value that the currency circulating is 2.7 billion USD equivalent. Now compare that with the 100 billion in cash reserves, the 90 tons of gold and the 82 billion in route to the CBI reserves over this year.
Anyone care to figure how many times over that the dinar is covered.
At 1 to 1 it’s still close to 100 in reserves for each 1 in circulation with a value of 86 cents per dinar