Mailman17 WHEN IRAQ FIRST INTRODUCED THE NEW NOTES BACK IN 2003 THEY HAD 3 CATEGORIES OF COINS. 25, 50 AND 100.
IF MEMORY SERVES ME THEY HAD A MAJOR THEFT OF THE 50, AND CUT THAT COIN PERIOD, OUT OF EXISTENCE, AND NOT MENTIONED IN THE LIST OF ACTUAL CURRENCY EITHER IN CIRCULATION OR NOT.
LEAVING THE 25 AND 100 ON THE BOOKS BUT NOT IN CIRCULATION.
BUT...THE MONEY ALLOCATED TO BACK THOSE 3 COINS AND THEIR VALUE... REPEAT...AND THEIR VALUE...WAS LEFT INTACT.
DO NOT CONFUSE THE 50 DINAR COIN AND THE 50 DINAR NOTE.
THEIR FUNDING IN THE M2 WAS SEPARATE. WITH THE INTRODUCTION OF THE SMALLS...1,5,10,MAYBE A 20 AND FILS...
THE ONLY BACKING NEEDED IS FOR THE 20 AND DOWN...NOT EVEN PUTTING A DENT IN THE M2.
WITH FUNDS ALREADY ALLOCATED FOR THE 3 NON CIRCULATED COINS, THEY WOULD HAVE NO PROBLEM EXCHANGING THAT VALUE FOR THE LITTLE 250 AND 500 STILL ON THE STREET...USABLE DAILY CURRENCY...ENTER THE 1-1.
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IF MEMORY SERVES ME THEY HAD A MAJOR THEFT OF THE 50, AND CUT THAT COIN PERIOD, OUT OF EXISTENCE, AND NOT MENTIONED IN THE LIST OF ACTUAL CURRENCY EITHER IN CIRCULATION OR NOT.
LEAVING THE 25 AND 100 ON THE BOOKS BUT NOT IN CIRCULATION.
BUT...THE MONEY ALLOCATED TO BACK THOSE 3 COINS AND THEIR VALUE... REPEAT...AND THEIR VALUE...WAS LEFT INTACT.
DO NOT CONFUSE THE 50 DINAR COIN AND THE 50 DINAR NOTE.
THEIR FUNDING IN THE M2 WAS SEPARATE. WITH THE INTRODUCTION OF THE SMALLS...1,5,10,MAYBE A 20 AND FILS...
THE ONLY BACKING NEEDED IS FOR THE 20 AND DOWN...NOT EVEN PUTTING A DENT IN THE M2.
WITH FUNDS ALREADY ALLOCATED FOR THE 3 NON CIRCULATED COINS, THEY WOULD HAVE NO PROBLEM EXCHANGING THAT VALUE FOR THE LITTLE 250 AND 500 STILL ON THE STREET...USABLE DAILY CURRENCY...ENTER THE 1-1.
~~~
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