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Viper51 post in DinarVet

Post  MamaEhrhardt on Mon Nov 08, 2010 10:48 am

This is based on recent presentations to the Iraqi people of how the new denominations will be introduced into the Iraqi monetary system. Some of the following information some of us may have already heard in bits but It explains how this will work and I think it is worth passing on.
This information comes from the Office of the Iraqi Finance Minister and the CBI Advisory Panel. The CBI and Iraq Finance Minister plan to increase the value of the Iraqi Dinar and at the same time introduce the new smaller denominations by the end of 2010. They plan to fully introduce the new smaller denominations with the old dinar notes still in circulation and will gradually remove the old notes from circulation which are the 000 notes many of us hold now with the possible exception of the 1000 dinar note. Both the OLD AND THE NEW SMALLER DINAR NOTES WILL COEXIST FOR AN EXTENDED PERIOD OF TIME to maintain the stability of the economy and to help limit confusion. THE OLD AND THE NEW WILL BE LEGAL TENDER until the current bank notes to be removed are all removed from circulation. No time limit on this removal procedure has been mentioned. The new denominations are 1/4, 1/2, 1, 5, 10, and 25 dinar notes and possibly 1/10 and 1/20 notes or coins. The implementation of the new denominations points to a positive increase in the VALUE OF THE DINAR. Arinai also advises there is the possiblity the RV MAY NOT HAPPEN UNTIL AFTER THE NEW SMALLER DENOMINATIONS ARE RELEASED AND IN CIRCULATION ACCORDING TO THE CBI ADVISORY PANEL. So when we see the smaller notes being released we will KNOW THE RV IS NOT FAR BEHIND. The Office of the Iraq Finance Minister said IRAQ IS HELD TO SUPPORT IT'S CURRENCY AT HOME AND AROUND THE WORLD AT THE SAME VALUE and not to elude a further increase or decrease of the dinar according to the Iraqi Economy AFTER REVALUATION HAS OCCURRED. In ending the PANEL said ALL CURRENCY WAS ISSUED WITH AN OBLIGATION TO HONOR IT - ALL OF IT - NOT JUST CERTAIN DENOMINATIONS.
I don't know about you guys but this info has answered some questions for me and shines some light on what we need to watch for on the coming of the RV. At any rate this is solid info and I hope it helps ease some worries some of us may have. I'm really feeling good about this deal and I will continue to do my best with the help of my good friend Arinai to bring you all the GOOD NEWS I CAN. Keep the faith family and we will talk later.


Posts : 83
Join date : 2010-01-01
Age : 54
Location : Ohio

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