Thread: Archive News - Iraqi Dinar Think Tank - 06/05/09 - 04/09/09

17/08/2009

Party of Massoud Barzani said that Iraq's central bank governor told them that the Iraqi currency will change to add to the Kurdish language

Party of Massoud Barzani said that Iraq's central bank governor told them that the Iraqi currency will change to add to the Kurdish language

And the dissemination of the Kurdish news media today and said that according to the constitution, Iraq's two official languages of Arabic and Kurdish

The media said Di Walker

Central Bank of Iraq announced its decision not to delete the zeros Iraqi currency, and instead it will be a change in the Iraqi dinar currency to the new format and the use of hit-friendly language and Arab money.

A statement issued by the Central Bank had been discussed the deletion of zeros from Iraqi dinar Iraqi bank, but that the latter was reached to change the resolution and to keep the Iraqi dinar zeros.

In another section of the statement indicated that the deletion of zeros instead of the Iraqi money, the money will be the work of another.

The statement also "the use of both languages will be hit-friendly and Arabic in the new edition of the Iraqi money

http://translate.google.com/translat...ate.google.com

Interesting,

We go from lop to no lop, no lop to lop, back and forth, it is simply amazing, either they are crazy or shrewd beyond our comprehension, which is it? lol One thing for sure, we are now hearing the reprint is going to happen, so this is a good sign.

Success to all, Mike

Originally Posted by Offshore-Wealth.com

Interesting,

We go from lop to no lop, no lop to lop, back and forth, it is simply amazing, either they are crazy or shrewd beyond our comprehension, which is it? lol One thing for sure, we are now hearing the reprint is going to happen, so this is a good sign.

Success to all, Mike

why is a reprint a good sign Mike?....wont that mean that the dinar that i am holding will become worthless?....please explain if possible...thanks..Pat

Can you imagine all the activity and inconvenience that will be involved with trading in your held currency for the new. I don't think the dealers will be able to pull this off unless a reasonable time period is given.

Originally Posted by bigopie

why is a reprint a good sign Mike?....wont that mean that the dinar that i am holding will become worthless?....please explain if possible...thanks..Pat

Greetings Pat,

No, it is not a real issue, it was done last time with no problem, I had contacts in Kurdistan, as I still do, and even though they has Swiss dinar, there was a window to exchange officially for months, and in this case, since they have now stated no lop, it will be a phase out as I see it.

Simply put, it is not a matter of needing a quick exchange like they needed with dumping Saddam off notes, now it is a minor issue of adding Kurdish language, and when I asked my contacts to check it out, funny thing is this came out of nowhere, for the Kurds were not pushing Baghdad for language reprint, it was never even discussed in public which seems a bit strange, even for Iraqi's. lol

As I see it they are using this as an excuse to send the message a change is about to happen, but not saying what the real reason will be. Remember, we are dealing with the majority of people who are clueless to what is going on, or what this will mean to them, so I suspect this is a smoke and mirror approach to informing citizens without causing panic, at least this is how I read it.

We know smaller notes are needed if we are going to see a revalue or anything close to restoration to former levels, so how better to handle it than make an announcement that new currency will be coming, but not to worry, we are only adding Kurdish lanquage, nothing more, nothing less. That is the easiest way not to create confusion or panic by the illiterate masses, right? Remember the panic when Saddam notes were replaced, these same people were storming banks not fully understanding what was going on, and they had little faith in the new dinar, and frankly, some still don't. lol

Bottom line is I doubt this will be more than an addition to current notes, as in smaller denoms. Maybe I am using too much common sense here, but if the Kurds were not screaming for this change, and Baghdad cannot stand the Kurds, do you think they did it out of the goodness of their hearts or from guilt? I doubt it, that is not why they made this announcement, I can assure you, it even surprised my Kurd buddies who know many of the big business owners in Kurdistan, so don't you think these leaders would have had knowledge of this if the Kurdistan ministers were pushing for this? All they have been pushing for is to have their oil law upheld, and wanting control over Kikuk oil region, so this is my take on issue of new currency reprint announcement.

The larger notes will simply be phased out, new coins of smaller denoms will be added, and new lower denom notes, and we probably will not see the 25K and 10K notes exchanged, just phases out, so I am not worried about any reprint. It all sounds good to me.

Success to all, Mike

thanks Mike....so since i am holding 25,000 and 10,000 notes only i will be able to exchange them for the new dinars,smaller denoms,and the big notes i am trading in will be phased out of circulation,right?....thats the way i am reading what you said....thanks again...Pat

Originally Posted by bigopie

thanks Mike....so since i am holding 25,000 and 10,000 notes only i will be able to exchange them for the new dinars,smaller denoms,and the big notes i am trading in will be phased out of circulation,right?....thats the way i am reading what you said....thanks again...Pat

Hi Pat,

Yes, most of us are holding the larger notes, and it will be similar to what we saw in U.S., the large notes of $500., $1000., $5000. and $10,000 and even a $100K note, never released, and all were phased out, but yet still exist. Most never even knew these existed, but as a collector, I have a gold certificate note set from 1928 in mint condition if anyone is interested. lol I will trade for new 10 and 25 dinar notes. lol

Success to all, Mike

Youda man Mike....lol..thanks for clearing that up....and thanks to you and Seaview for keeping all us rol club members up on the dinar....we really appreciate all of your and Seaview's efforts...thanks again...Pat

No Problem Pat, and I feel the same about Seaview, we are one big family and all in it for the same reasons, so let us all hope this journey is coming to an end so we can all meet and greet and have some fun finally. lol

Success to all, Mike

Commission decision to deny oil and gas for the (news) and there was a dispute "real" about the oil and gas law

News agency reported - a special

Denied the decision of the Commission on oil and gas in the Iraqi Council of Representatives Jaber Khalifa Jaber and there was a dispute "real" about the oil and gas law, but the main factions, which are impeding the adoption of this law in order to keep a free hand in the sale of Iraqi oil "as he put it."

Khalifa said the statement singled out by the "News" that the dispute over the oil law is not true, and unlike the main factions that impede the adoption of this law in order to keep a free hand in the sale of Iraqi oil, and the Ministry of Oil does not want to pass it in order to restrict the oil minister to sign the Contracts are now, which is contrary to the Constitution.

And Professor Jaber Khalifa ruled out a vote on the adoption of this law during the next legislative term, if the political situation remained as it is, "he said. Fadhila deputy parliamentary bloc," Most government agencies do not want to pass the oil and gas law professor, said Jabir Khalifa Jabir integrity of Iraq, coalition and Development Party Islamic Virtue, "The most influential government agencies including the Ministry of Oil does not want to pass the oil and gas law, ruling out the vote during the next legislative term."

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