The CBI has stated at the beginning of 2017 they will begin the removal of the 3 000 notes from the streets of Iraq in general day to day commerce, and why would they do this? It is simple, with new currency being introduced (lower demons) it would be like sending one your kids down to the market with a form of very large denominated currency that the shop keeper can not make change for on a 1or 2 Dinar item.
In Iraq the people are being informed, there is about to be a change and this is the news reports we on the outside of their country have been reading.
Mean while in the latest news, the banking system in country have really already started taking in the notes by offering incentives of strong interest rates and insured deposits to get some of the mattress money into the banks.
These large notes will then be used as institutional notes that are used between banks and governments but will no longer have a place in day to day commerce of street markets.
It has also been report by the CBI the large notes will be honored right along side the new currency (lower demons) that is being introduced for a period of 10 years. In country Dinar is still a Dinar or 1 to 1 and they are not lopping the 000's from existing currency, inside or outside the country.
Outside the country what will happen is the central banks of each country will authorize an exchange rate based on daily Forex rates, which in turn will filter down to local banks.
You then will take your currency in and exchange. Local banks will then exchange the foreign currency with the countries treasuries and at that point it becomes an institutional note used in foreign trade.
With all that said I hope I got it right.
clay says to Movack():we will have 10 years to exchange it
Doug_W says():U've got it RIGHT ON Movack
sagecanyon says():I think you are right on the money Movack! Thank You!
plowboy says to Movack():my question has been, how long will the process take, or when can I exchange? (based on early part of 2017)
Movack says():@ plowboy ----That is the question alright------ in my opinion I think we might see before the end of the year or just after the first --- again thats just my opinion
wmawhite says to Movack):Local banks will then exchange the foreign currency with the countries treasuries and at that point it becomes an institutional note used in foreign trade.
..........Remember, not all "local banks" exchange foreign currencies....................
Again, not all banks in your community will exchange foreign currency.
rcookie says to wmawhite():WOW!!...
rcookie says to wmawhite():GM SIR..
wmawhite says to rcookie():GM!!!
Okie Dinar says to rcookie():GM Rcookie!
rcookie says to Okie Dinar():GM OKIE!!!
Okie Dinar says to wmawhite():GM Mr. White!
wmawhite says to rcookie():WOW,.................more confirmation of major changes coming soooooooooooooon:
November 14, 2016 10:17
Iraq Stock Exchange formally signed the Convention on the electronic trading system via the Internet trading after investors with Manaf software company on Monday, November 14 2016.
rcookie says to wmawhite():HARD TO BELIEVE THERE ARE SAOME WHO BELIEVE THAT THEY ARE STARTING TO REMOVE 3 ZERO NOTES....
wmawhite says to rcookie():rcookie............many thanks for finding this;
It is hoped the project officially launched during the first quarter of 2017 after completion of the binding mechanisms with the Iraq Stock Exchange systems and build the required access sites.
rcookie says to wmawhite):I SENT TO YOU THIS AM..
wmawhite says to rcookie():Yes you did........
rcookie says to wmawhite():BECAUSE OF DATE..
wmawhite says to rcookie():I just can't stop thinking about this
wmawhite says to rcookie():WOW...............
Implementation of the project plan includes the creation of the electronic system and the development of tasks and services that will allow the investor trading on the shareholding companies, bonds and any listed securities in the market through this system and via the Internet, like any investor, trading in the market hal
wmawhite says():Folks,....................rcookie found this earlier...........
rcookie says to wmawhite():PEOPLE ALREADY WITH THEIR CALENDAR AND BLACK SHARPIE MAKING X'S AND COUNTDOWN TO JAN 1ST....
Movack says():Yes Rcookie I do believe they are in the moment securing the notes -- its just my opinion
wmawhite says):Folks,.........do any of you see the relationship between what the CBI is doing and what the ISX is preparing for?????
wmawhite says():Folks,...............please do not focus on one particular date...........
rcookie says to Movack():NO.....THEY DID NOT JUST START REDUCING THE NOTE COUNT,,,,IT HAS BEEN ONGOING FOR YEARS.......THIS IS WHY THEY CURRENTLY HAVE A DIRE LIQUIDITY CRISIS..........
rcookie says to Movack():THE REDUCTION OF THE NOTE COUNT IS ONE OF THE PHASES OF THE DELETE THE ZEROES PROGRAM...
Movack says():understood and agree with you
rcookie says to Movack():JUST LIKE THE MINTING OF THE NEW 3 ZERO NOTES WITH SECURITY FEATURES WE ALL HOLD...AS WELL AS THE NEW LD'S...ALL MINTED IN 2013...ALL MINTED TO WELL STRATEGIZED QUANTITIES AND RELEASE DATES.....
wmawhite says():Within all of those recent articles the CBI has also told us what one of the next step is;............the reduction of USD into the market place...........
wmawhite says():The CBI is at a very critical point in this project, which is called "The Delete The Zero Project."
wmawhite says():This project is not ONLY the large notes, but numerous other administrative and procedural steps.
wmawhite says():There may be a dozen "action" items within this project and after the implementation of those items there will be an intended result.............an increase in the purchasing power of the IQD (to the citizen) which will be caused by an increase in value if the IQD OUTSIDE of Iraq.
rcookie says():AND THE 3 ZERO NOTES WHILE STILL BEING ACKNOWLEDGED AS LEGAL TENDER FOR 10 YEARS...
CAN NOT POSSIBLY COEXIST FUNCTIONALLY IN THE MARKETPLACE AT "POINT OF SALE"....AFTER THE INT'L PRICING EQUATION IS APPLED...AND PRICES ADJUSTED...CITIZENS PURCHASING POWER ELEVATED AND REALIZED...
clay says to wmawhite():(y)
clay says to rcookie():thanks
wmawhite says():The value of the IQD will always stay the same inside Iraq; meaning 1 IQD will always be equal to 1 IQD. There is no comparison of the IQD to any other currency inside Iraq because other currencies will stop to be legal tender inside Iraq...........just as it is in the USA.
BGG says to rcookie():Great point - Re: "P.O.S."
rcookie says():PEOPLE REALLY CONFUSED ABOUT AUCTIONS...WHO CAN ACCESS..CAPS & LIMITS..
BGG says to rcookie):You mean they aren't going to RV ON JAN 1st?? Isn't that what everyone has been saying?? How can the collective reasoning of the INTERNET be wrong??
BGG says():I mean - it's THE INTERNET!!
rcookie says):DATE CENTRIC ROLLER COASTER................WEEEEEEEEEEEEEEEEEEEE
BGG says():I almost spit coffee all over my keyboard.
rcookie says():WE HAVE SAID BEFORE...IF YOU ARE HONESTLY VULNERABLE AND SENSITIVE TO THAT KIND OF STUFF YOU NEED TO COGNITIVELY STAY AWAY FROM THE DISPENSERS.....
rcookie says():ITS LIKE SOMEONE DECIDING TO HOLD AN AA MEETING IN A BAR.................RUN AWAY!!!
wmawhite says():The most exciting part of this is that the most important entity, the CBI, is telling the citizens of Iraq along with any other knuckle heads that will listen that a change is coming and is coming soon.
rcookie says to wmawhite():(y)
rcookie says to BGG()::D
wmawhite says():O.K., O.K., O.K.,....I am not sensitive enough..............
rcookie says to wmawhite()::D
wmawhite says():Did I by any chance tell you that I am excited?
rcookie says to wmawhite():NAAAAAAAAAAAAH.....SMAE OLD IRAQ....IF WEVE SEEN IT ONCE.......BEEN LIKE THIS FOR 10 YEARS.........YAWN....
wmawhite says():I was excited yesterday and then rcookie found me a huge cup of strong coffee called;
Iraq Stock Exchange Convention on the electronic trading system online trading investors remotely with Manaf Software Company
BGG says():Well - it's a little hard to have it both ways..
BGG says):it's either exciting - or it's not...
rcookie says to wmawhite():AND THEY EVEN LIST THE NAME OF THE ORIGINAL 5 BROKERAGE HOUSES.............
BGG says():my point - and if this gets "edited" on Recaps... was...
wmawhite says):this high we have been on just keeps growing .............
BGG says():for those boo hooing about the first part of 2017 was this...
rcookie says to wmawhite():IS IT HOT IN THIS ROOM...SOMEBODY TURN THE HEAT UP?
wmawhite says():more coffee, thank you..........
BGG says():"The first part of 2017" starts in just 47days (if they bother to wait that long)... to get started...
Okie Dinar says to BGG():(y) :)
BGG says):which they have signaled as some version of their "starting point" for the project.
plowboy says to BGG():I'm almost tempted to go window shopping for new homes and cars and such
BGG says():not my point - not at all.
BGG says():my point was - and is...
wmawhite says():....and one article stated that the issuance of the 50, 100 and 200 IQD notes in early 2017 ......."will be the effect of the delete the zero project."
BGG says():we have PLENTY to be excited about - no matter what "THE DATE"...
wmawhite says():........meaning.....something has ocurred prior to the issuance of the notes.
BGG says():that is VERY interesting.
wmawhite says():Folks.....................all of you need to have your pulse checked.........