Post From Wealthwatch.world Chat Room 11-11-15
Wealthwatch OOTW &Butifldrm Chat 11-11-15 Part 2 of 3
OOTW: BASICALLY, THE PLAN OUTLINED VIA THE TRANSLATION/TEXT STATES THAT THEY WILL US THE RELEASE OF THE 50K NOTES IN ORDER TO PULL IN THE CURRENT LOWER DENOMINATIONS AND THEN WILL RELEASE OTHER LOWER DENOMS WITH A HIGHER VALUE –
THE AMOUNT OF THAT VALUE IT NOT DISCUSSED IN THE TRANSLATION OF THE VIDEO (NOR IN THE VIDEO LOL)
OOTW: THE CBI ELUDES THAT THIS IS THEIR PLAN - THEY ARE NOT SPECIFIC REGARDING AMOUNTS AND WHY WOULD THEY BE?
OOTW: THE WAY I UNDERSTOOD THE TRANSLATOR THE INTENTION IS THAT THE NEW (REPLACEMENT) LOWER DENOMS WILL BE GIVEN A NEW VALUE AND THAT IS ALL
~~~
Wealthwatch OOTW &Butifldrm Chat 11-11-15 Part 2 of 3
OOTW: BASICALLY, THE PLAN OUTLINED VIA THE TRANSLATION/TEXT STATES THAT THEY WILL US THE RELEASE OF THE 50K NOTES IN ORDER TO PULL IN THE CURRENT LOWER DENOMINATIONS AND THEN WILL RELEASE OTHER LOWER DENOMS WITH A HIGHER VALUE –
THE AMOUNT OF THAT VALUE IT NOT DISCUSSED IN THE TRANSLATION OF THE VIDEO (NOR IN THE VIDEO LOL)
OOTW: THE CBI ELUDES THAT THIS IS THEIR PLAN - THEY ARE NOT SPECIFIC REGARDING AMOUNTS AND WHY WOULD THEY BE?
OOTW: THE WAY I UNDERSTOOD THE TRANSLATOR THE INTENTION IS THAT THE NEW (REPLACEMENT) LOWER DENOMS WILL BE GIVEN A NEW VALUE AND THAT IS ALL
~~~
Winnerdinar: ‹@TxBrand› I have two theories
TxBrand: ‹@Winnerdinar› ok
Dianne777: ‹@OOTW› anytime soon as in this year?
Winnerdinar: The first one involves pretty much what Kaperoni has been saying
Winnerdinar: there are currently two sets of IQD notes floating side by side
Winnerdinar: The 2003 series notes and the 2014 series notes
OOTW: ‹@Dianne777› LET ME ASK YOU - DO YOU THINK BY RELEASING THESE 50K NOTES THAT IT'S REALISTIC TO EXPECT THAT THE CBI WILL BE ABLE TO PULL IN ALL THE LOWER DENOMINATIONS IN A SMALL WINDOW OF TIME?
OOTW: HERE IS THE US WHEN WE RELEASED THE NEW 100 DOLLAR BILL IT TOOK SOME TIME TO PULL IN THE OLD 100 NOTES, DID IT NOT?
OOTW: YES IT TOOK AT LEAST A YEAR AND I'VE SEEN SOME OF THE OLD 100 US NOTES IN CIRCULATION
TxBrand: why do they want to pull them ?
Winnerdinar: The 50,000 notes are about to be added to the new series (2014) of IQD notes to float alongside the older 2003 series notes
Winnerdinar: immediately when the 50,000 notes are added the rate will change to 50,000 dinars to $100 dollars or very near to them being introduced
Winnerdinar: remember they eliminated the 50 notes from the older series
Winnerdinar: from OOTWs translator of the 50,000 video
Winnerdinar: its state the following
Winnerdinar: Give me a minute
Winnerdinar: Back again please read this statement from OOTW translator
Winnerdinar: OOTW please type the statement for me
OOTW: THE VALUE OF THE CURRENCY THEY'RE GOING TO PUT OUT IS ABOUT 40 TRILLION DINAR WORTH OF THE 50K NOTES - AGAIN EQUAL TO 40 TRILLION DINAR NOT DOLLARS – ‘
THE CBI IS GOING TO TAKE OUT THE SMALLER CURRENCY - MEANING THE LOWER DENOMINATIONS - THEY WAY I UNDERSTAND IT, THEY'RE NOT JUST GOING TO PRINT 40 TRILLION DINAR –
THEY'RE NOT GOING TO PRINT EXTRA MONEY, THEY'RE GOING TO PRINT THE 50K NOTES AND THE EXACT AMOUNT THEY PRINT - THEY'RE GOING TO THEN REMOVE THE EQUIVELANT OF THIS AMOUNT (40 TRILLION) IN THE CURRENTLY EXISTING SMALLER DENOMINATIONS THAT EXIST IN THE MARKET.
Winnerdinar: So from the above statement they are going to put out another 40 trillion worth of notes which I think will be gradually worth of the 50,000 notes and at the same time they are going to start eliminating parts of the current currency more likely the 2003 series of notes
Winnerdinar: I think that they will start eliminating the 250 notes from 2003 series of notes
TxBrand: and how long do you think its going to take them to do all this bs ? lol
Winnerdinar: once they are eliminated the rate will double again
Winnerdinar: then they will move on to the 500 notes from 2003
TxBrand: so nun of our notes are going to be any good ?
Winnerdinar: I believe there will be an exchange period Winnerdinar: like the 50 notes
Winnerdinar: hang on Winnerdinar: this is just my theory
RVPlease: yes.... but now that most dinar dealers are out of business... where are we going to exchange them? BAGHDAD :laughing:
Winnerdinar: This is how they will reduce the money supply in preparation to make the dinar equal to the dollar
Winnerdinar: ‹@RVPlease› well if they go international hopefully your bank
RVPlease: GOOD luck with that.. I doubt most banks will touch this stuff.... for at least a couple of years...
Winnerdinar: This could be a way to get liquidity back into the banks
Butifldrm: ‹@Winnerdinar› and everybody good evening
OOTW: HIYA BUTI
Butifldrm: I have something to show you
Winnerdinar: ‹@Butifldrm› good evening
Butifldrm: Hi Woods
TxBrand: and we wont get but about 1/2 as much as we paid for them........if that much
Butifldrm: Iraq Said To Be Planning Currency Overhaul, Redenomination
Abraham: ‹@TxBrand› not so fast, you Are ok
Butifldrm: BAGHDAD -- A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports. Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions.
OOTW: TX WE DO NOT KNOW WHEN THEY'RE GOING TO CALL IN THE LOWER DENOMS OR SIMPLY ALLOW THEM TO IN-FLOW BACK INTO THE BANKS IN NATURAL ORDER
Butifldrm: He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of money to pay for expensive items like cars.
The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end.
He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions.
OOTW: ALSO - THE 2/10 OF A CENT FIGURE IS BASED SOLELY ON THE VIDEO FROM MAY AND RELATED ARTICLE OOTW: PLEASE DO NOT PANIC OOTW: OR WORRY
TxBrand: ‹@Abraham› :dizzy: im just in a bad mood...sorrry
Butifldrm: In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note. He said the change was inevitable, considering the economy is expecting high growth in the coming years with a planned increase in oil production to finance reconstruction projects.
OOTW: TO MY MIND THIS IS AMAZING
OOTW: WE SHOULD BE HAPPY THERE'S MOVEMENT - WE JUST HAVE TO WATCH AND BE PATIENT
Butifldrm: Saleh said there were currently some 29 trillion dinars in circulation in Iraq, represented by some 6 trillion banknotes of various denominations, most of them quite small. He said this also caused complications for the Central Bank and government, as well as commercial accounting departments.
Abraham: The larger noted will be used Internationally to adjust Balance of Payments with trading Nations
Abraham: Need not worry
BOBBY: to soon to be making any conclusions
Butifldrm: Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund, of which Iraq has been a member since 1945. The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament.
OOTW: YES BOBBY
Abraham: Iraq is an importer
OOTW: SO BUTI YOU'RE AGREEING WITH WINNERDINAR?
Butifldrm: Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/$3.3 compared to $1/1,168 dinars now due to hyperinflation that occurred during the latter part of the late ousted leader Saddam Hussein's reign Butifldrm: http://ift.tt/1WNQmR3...
http://ift.tt/1O4VSXZ
BOBBY: any movement forward is positive in this
Butifldrm: ‹@OOTW› http://ift.tt/1WNQmR3...
http://ift.tt/1O4VSXZ
OOTW: TY BUTI OPENING NOW
OOTW: OKAY THIS IS FROM A EUROPEAN PRESS SITE
OOTW: HERE'S THIS ARTICLE
OOTW: Iraq Said To Be Planning Currency Overhaul, Redenomination Print Comment (118) Share: Iraq's 25,000-dinar banknotes apparently won't get you as far as they used to. Iraq's 25,000-dinar banknotes apparently won't get you as far as they used to. Pin It June 24, 2011 BAGHDAD –
A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports.
Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions. He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of money to pay for expensive items like cars.
The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end. He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions.
In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note.
TxBrand: ‹@Winnerdinar› ok
Dianne777: ‹@OOTW› anytime soon as in this year?
Winnerdinar: The first one involves pretty much what Kaperoni has been saying
Winnerdinar: there are currently two sets of IQD notes floating side by side
Winnerdinar: The 2003 series notes and the 2014 series notes
OOTW: ‹@Dianne777› LET ME ASK YOU - DO YOU THINK BY RELEASING THESE 50K NOTES THAT IT'S REALISTIC TO EXPECT THAT THE CBI WILL BE ABLE TO PULL IN ALL THE LOWER DENOMINATIONS IN A SMALL WINDOW OF TIME?
OOTW: HERE IS THE US WHEN WE RELEASED THE NEW 100 DOLLAR BILL IT TOOK SOME TIME TO PULL IN THE OLD 100 NOTES, DID IT NOT?
OOTW: YES IT TOOK AT LEAST A YEAR AND I'VE SEEN SOME OF THE OLD 100 US NOTES IN CIRCULATION
TxBrand: why do they want to pull them ?
Winnerdinar: The 50,000 notes are about to be added to the new series (2014) of IQD notes to float alongside the older 2003 series notes
Winnerdinar: immediately when the 50,000 notes are added the rate will change to 50,000 dinars to $100 dollars or very near to them being introduced
Winnerdinar: remember they eliminated the 50 notes from the older series
Winnerdinar: from OOTWs translator of the 50,000 video
Winnerdinar: its state the following
Winnerdinar: Give me a minute
Winnerdinar: Back again please read this statement from OOTW translator
Winnerdinar: OOTW please type the statement for me
OOTW: THE VALUE OF THE CURRENCY THEY'RE GOING TO PUT OUT IS ABOUT 40 TRILLION DINAR WORTH OF THE 50K NOTES - AGAIN EQUAL TO 40 TRILLION DINAR NOT DOLLARS – ‘
THE CBI IS GOING TO TAKE OUT THE SMALLER CURRENCY - MEANING THE LOWER DENOMINATIONS - THEY WAY I UNDERSTAND IT, THEY'RE NOT JUST GOING TO PRINT 40 TRILLION DINAR –
THEY'RE NOT GOING TO PRINT EXTRA MONEY, THEY'RE GOING TO PRINT THE 50K NOTES AND THE EXACT AMOUNT THEY PRINT - THEY'RE GOING TO THEN REMOVE THE EQUIVELANT OF THIS AMOUNT (40 TRILLION) IN THE CURRENTLY EXISTING SMALLER DENOMINATIONS THAT EXIST IN THE MARKET.
Winnerdinar: So from the above statement they are going to put out another 40 trillion worth of notes which I think will be gradually worth of the 50,000 notes and at the same time they are going to start eliminating parts of the current currency more likely the 2003 series of notes
Winnerdinar: I think that they will start eliminating the 250 notes from 2003 series of notes
TxBrand: and how long do you think its going to take them to do all this bs ? lol
Winnerdinar: once they are eliminated the rate will double again
Winnerdinar: then they will move on to the 500 notes from 2003
TxBrand: so nun of our notes are going to be any good ?
Winnerdinar: I believe there will be an exchange period Winnerdinar: like the 50 notes
Winnerdinar: hang on Winnerdinar: this is just my theory
RVPlease: yes.... but now that most dinar dealers are out of business... where are we going to exchange them? BAGHDAD :laughing:
Winnerdinar: This is how they will reduce the money supply in preparation to make the dinar equal to the dollar
Winnerdinar: ‹@RVPlease› well if they go international hopefully your bank
RVPlease: GOOD luck with that.. I doubt most banks will touch this stuff.... for at least a couple of years...
Winnerdinar: This could be a way to get liquidity back into the banks
Butifldrm: ‹@Winnerdinar› and everybody good evening
OOTW: HIYA BUTI
Butifldrm: I have something to show you
Winnerdinar: ‹@Butifldrm› good evening
Butifldrm: Hi Woods
TxBrand: and we wont get but about 1/2 as much as we paid for them........if that much
Butifldrm: Iraq Said To Be Planning Currency Overhaul, Redenomination
Abraham: ‹@TxBrand› not so fast, you Are ok
Butifldrm: BAGHDAD -- A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports. Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions.
OOTW: TX WE DO NOT KNOW WHEN THEY'RE GOING TO CALL IN THE LOWER DENOMS OR SIMPLY ALLOW THEM TO IN-FLOW BACK INTO THE BANKS IN NATURAL ORDER
Butifldrm: He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of money to pay for expensive items like cars.
The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end.
He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions.
OOTW: ALSO - THE 2/10 OF A CENT FIGURE IS BASED SOLELY ON THE VIDEO FROM MAY AND RELATED ARTICLE OOTW: PLEASE DO NOT PANIC OOTW: OR WORRY
TxBrand: ‹@Abraham› :dizzy: im just in a bad mood...sorrry
Butifldrm: In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note. He said the change was inevitable, considering the economy is expecting high growth in the coming years with a planned increase in oil production to finance reconstruction projects.
OOTW: TO MY MIND THIS IS AMAZING
OOTW: WE SHOULD BE HAPPY THERE'S MOVEMENT - WE JUST HAVE TO WATCH AND BE PATIENT
Butifldrm: Saleh said there were currently some 29 trillion dinars in circulation in Iraq, represented by some 6 trillion banknotes of various denominations, most of them quite small. He said this also caused complications for the Central Bank and government, as well as commercial accounting departments.
Abraham: The larger noted will be used Internationally to adjust Balance of Payments with trading Nations
Abraham: Need not worry
BOBBY: to soon to be making any conclusions
Butifldrm: Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund, of which Iraq has been a member since 1945. The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament.
OOTW: YES BOBBY
Abraham: Iraq is an importer
OOTW: SO BUTI YOU'RE AGREEING WITH WINNERDINAR?
Butifldrm: Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/$3.3 compared to $1/1,168 dinars now due to hyperinflation that occurred during the latter part of the late ousted leader Saddam Hussein's reign Butifldrm: http://ift.tt/1WNQmR3...
http://ift.tt/1O4VSXZ
BOBBY: any movement forward is positive in this
Butifldrm: ‹@OOTW› http://ift.tt/1WNQmR3...
http://ift.tt/1O4VSXZ
OOTW: TY BUTI OPENING NOW
OOTW: OKAY THIS IS FROM A EUROPEAN PRESS SITE
OOTW: HERE'S THIS ARTICLE
OOTW: Iraq Said To Be Planning Currency Overhaul, Redenomination Print Comment (118) Share: Iraq's 25,000-dinar banknotes apparently won't get you as far as they used to. Iraq's 25,000-dinar banknotes apparently won't get you as far as they used to. Pin It June 24, 2011 BAGHDAD –
A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports.
Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions. He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of money to pay for expensive items like cars.
The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end. He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions.
In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note.
OOTW: ..........BTW I AM SUPPORTING WHAT THIS ARTICLE SAYS I'M SIMPLY POSTING IT
OOTW: He said the change was inevitable, considering the economy is expecting high growth in the coming years with a planned increase in oil production to finance reconstruction projects. Saleh said there were currently some 29 trillion dinars in circulation in Iraq, represented by some 6 trillion banknotes of various denominations, most of them quite small.
He said this also caused complications for the Central Bank and government, as well as commercial accounting departments. Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund, of which Iraq has been a member since 1945.
The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament. Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/$3.3 compared to $1/1,168 dinars now due to hyperinflation that occurred during the latter part of the late ousted leader Saddam Hussein's reign.
chattels: " Saleh said there were currently some 29 trillion dinars in circulation in Iraq, ........... "
OOTW: HOWEVER THE VIDEO STATES THEY WISH TO PULL IN THE EQUIVELANT OF 40 TRILLION DINAR IN CIRCULATION
OOTW: VIA THE ISSUANCE OF THE 50K NOTES
chattels: First statement as to the amount in circulation that I have seen in awhile.
BOBBY: Chattels. ........ lower then what people have been saying
OOTW: SO IF THE CURRENT AMOUNT IS TRULY 29 TRILLION THIS MEANS THAT ABOUT 11 TRILLION - MEANING THE 40 TRILLION WHICH WERE REPORTED TO BE OUT IN CIRCULATION IN MAY, HAS REDUCED THAT MUCH IN SIX MONTHS
chattels: ‹@BOBBY› Higher than the speculation of some pundits.
OOTW: SORRY I DO NOT SUPPORT THE LOP ARTICLE
OOTW: I HAVE TEXTED BUTI TO ASK HER WHY SHE DROPPED A LOP ARTICLE IN HERE AND THEN DISAPPEARED LOL
chattels: All of this talk about planning and intention would seem to make this process far more complicated than the scenario envisioned by many in dinarland.
BOBBY: OOTW..... she did a drive by lol
OOTW: AND HOW BOBBY
Comments may be made at the end of Part 3 Thank You
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