Central Bank of Iraq Statement – Sell Iraqi Dinar Now

by **alleyrose** Tue Mar 17, 2015 10:53 am

For the document itself, I was not satisfied with just having the English translation. I wanted it translated line by line with the Arabic right above or below the English translation. This is my 2nd post of official CBI documentation. This article focuses on the CBI statement of removing the note from circulation before May 1, 2015. The last day to sell Iraqi Dinar notes in the 50 denomination is April 30, 2015. There is not much time left.
ixzz3UefMUIi7 - Central Bank of Iraq Statement – Sell Iraqi Dinar Now Central-bank-iraq

ixzz3UefMUIi7 - Central Bank of Iraq Statement – Sell Iraqi Dinar Now Central-bank-iraq

The first document translated was here: http://dinarrvnews.net/50-iraqi-dinar-removal-translated-cbi-document/
Arabic is shown followed by the English translation. I hope you enjoy this. It was not cheap, and please like this page and share the link with the dinar world. As far as I know guys, I am the only one translating the complete CBI documents like this.

[size=36]Central Bank of Iraq – Removal of the 50 Iraqi Dinar Banknote From Circulation[/size]
This was originally published on February 25, 2015 in Arabic only by the Central Bank of Iraq:
بيان صادر عن البنك المركزي العراقي
Statement issued by the Central Bank of Iraq
نظرا لتوقف الجمهور عن التداول بالورقة النقدية فئة 50 دينارا و استنادا للصلاحية المخولة بالمادة 36 من قانون البنك المركزي العراقي رقم 56 لسنة 2004 فقد تقرر ما يأتي:
Due to the end of trading the banknote of 50 dinars and on the basis of the authority vested in the Article 36 of the Iraqi Central Bank Law No. 56 for the year 2004, it was decided as follows:
ixzz3UefMUIi7 - Central Bank of Iraq Statement – Sell Iraqi Dinar Now 50-iraq-dinar-front1-300x149

ixzz3UefMUIi7 - Central Bank of Iraq Statement – Sell Iraqi Dinar Now 50-iraq-dinar-front1-300x149

1ـ سحب الورقة النقدية من فئة 50 دينارا من التداول.

The 50 dinar banknote is to end being traded.

2ـ على المصارف و فروعها استبدال الأوراق النقدية المقدمة إ ليها من دون رسوم أو عمولة، و تقوم المصارف بإيداعها لدى البنك المركزي و فروعه لغرض قيد ما يقابل قيمتها في حساباتها لدينا.

Banks and branches have to replace the banknotes provided to them without a fee or commission, and the banks will deposit them in the Central Bank and its branches for the purposes of having the equivalent value in their accounts.

3ـ تكون مدة استبدال الفئة أعلاه شهرين إبتداء من 01/03/2015 لغاية 30/04/2015

The period of replacing these banknotes above is two months starting from 03/01/2015 up to 04/30/2015

4ـ بعد انتهاء مدة الاستبدال تصبح الورقة النقدية لاغية و ليست لها قوة إبراء و لن يتم قبولها في جمهورية العراق.

After the replacement, the banknote becomes void and of no legal tender and will not be accepted in the Republic of Iraq.

البنك المركزي العراقي
بغداد
25/02/2015
Central Bank of Iraq
Baghdad
25/02/2015
Translation provided by Nick Giammarino of dinarrvnews.net and globalcurrencyreset.net

[size=30]My Thoughts on the Central Bank of Iraq’s Statement[/size]

Obviously, the lower denomination notes are worthless. Four cents is all this 50 dinar note is even worth. Don’t forget practiciality, it’s better to simply use coins then use bills. The other thing is that these bills weight a lot, and they have little value. The attention to detail used to create these bills, and the security features in them, nearly cost more than the bill itself. Why would you spend five cents to print an IQD worth only four? The answer is, you wouldn’t.
The gurus were quick to point out how big of a change this is, it’s not, it’s just showing again how wrong they were.
For years we have heard the following:
ixzz3UefMUIi7 - Central Bank of Iraq Statement – Sell Iraqi Dinar Now Frank26-three-zero-notes-300x32

ixzz3UefMUIi7 - Central Bank of Iraq Statement – Sell Iraqi Dinar Now Mountain-goat-three-zeros-300x69

ixzz3UefMUIi7 - Central Bank of Iraq Statement – Sell Iraqi Dinar Now Blaino-zimbabwe-dollar-300x65

[size=30] Selling Iraqi Dinar – Guru News[/size]

If you are asking yourself, “How do I sell my Iraqi Dinar?” then you just simply call up, or visit the place you purchase it from and tell them one of the following:

I want to redeem my 50 dinar notes for Silver.
I want to redeem my 50 dinar notes for higher denom notes (like 5,000 or 10,000 and even 25,000 notes).
I want to exchange my 50 dinar notes for Dollars (or whatever your local currency is)

So what do we have at this point? Just speculation that the Dinar will revalue eventually. What is shocking is the fact that not one dinar guru was able to let everyone know the notes were being pulled until the CBI made the statement.
I thought the gurus had “sources inside of Iraq” I thought they had boots on the ground. Weren’t we told the rates were on the screens and that the call centers were manned (think back to December – February 2014) and what about the statements that the RV already happened, it was international? The whole #wearethepeople was a waste of time also.
As it points out everyone, not only were their RV predictions false, but they couldn’t even give you a one day notice about the change in CBI policy.
My final question to you is this, “Why do you still trust known liars?”

Read more: http://dinarrvnews.net/cbi-translation-50-iqd-note-sell-iraqi-dinar/#ixzz3UefMUIi7
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by **Terbo56** Tue Mar 17, 2015 11:03 am

You should keep at least one 50 dinar note, just for a rememberance, maybe sometime it will be worth a few hundred bucks who knows?

by **alleyrose** Tue Mar 17, 2015 11:04 am

We dont have much to start with so we'll keep it all, it will be a good collectable for the grandkids one day along with the Zim and Dong!

by **Terbo56** Tue Mar 17, 2015 11:06 am

There you go!! Good idea- How about some chinese juan? It will be the next world reserve currency, like the dinar? Just a thought- The 'Zim', however is now worthless, and they will have another currency in Zimbabwe in a few months, but I won't touch it- If you do have zim, see if you can sell it for at least a few dollars where you bought it, and it won't be a bad loss-

by **alleyrose** Tue Mar 17, 2015 11:07 am

Not touching anything Chinese it's full of asbestos!

by **Terbo56** Tue Mar 17, 2015 11:10 am

The new juan isn't- so, no worries- Very Happy

by **alleyrose** Tue Mar 17, 2015 11:14 am

No more currency for me!

by **Terbo56** Tue Mar 17, 2015 11:19 am

I can't blame you, and after this cluster, I will invest in petroleum, or commodities-No more currencies for me, either, maybe some gold and silver coins-

by **alleyrose** Tue Mar 17, 2015 11:21 am

We aren't going to invest in anything except getting out of debt oh and some cattle, that's about it for us!

by **Terbo56** Tue Mar 17, 2015 11:28 am

You should be able to get excellent money for the right type of cattle- Have you heard of the 'Oreo Cookie' cow? Seriously! They are called a 'Belted Galloway', they are marked brown,on their ass, white in the middle, and brown in the front part- Check it out on the internet- There are Holsteins, Brown Swiss, Guernsey, White Faced Herefords, Black Angus, there are many types, and will pay differently for the type you have--

by **Ssmith** Tue Mar 17, 2015 11:54 am

And you can eat the cattle too!

by **Terbo56** Tue Mar 17, 2015 1:04 pm

Yes, as long as they have not been injected with the BGH-{ Bovine growth hormones-} It taints the milk, too-

by **Kevind53** Tue Mar 17, 2015 2:41 pm

Belties fetch a premium for their meat. The farmers selling at at our local market get at least 20% more for their meat than other varieties and people seem more than glad to pay it.

Not touching Yaun, China has WAY too many problems. For one, they are in worse condition financially than the US.

by **alleyrose** Tue Mar 17, 2015 6:43 pm

No that type of cattle are too soft for this area and don't bring good money. Brahmans, Charbray, Droughtmaster, Hereford, Angus, Braford are all the cattle that bring better money and can handle the harsh conditions up here.

I agree Kevin I am not going anywhere near any more currency!

by **Kevind53** Tue Mar 17, 2015 7:07 pm

Well our conditions are more cold and wet than hot and dry ... so we see a lot of longer haired breeds, especially on farms where they raise grass fed beef that need to be pastured year around.

by **alleyrose** Tue Mar 17, 2015 9:03 pm

thats what we do grass fed beef and then when it is dry we have to buy hay for feed, that can get epxensive

by **Terbo56** Tue Mar 17, 2015 9:08 pm

Hay is near $17.00 a bale, and higher for a one ton round bale here in the U.S.-

Central Bank of Iraq Statement – Sell Iraqi Dinar Now