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"Deletion of 3 Zeros Imminent" - Sun. AM TNT Intel/Thoughts 3/10/19

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Post by Ssmith on Mon Mar 11, 2019 8:43 am

TNT

DrBob:

Okay, had an Iraqi patient today. He says the deletion of 3 zeros is imminent. He and his family do not know when but they all know it is going to happen. Good news!

Didn't talk about the 'cards' but he did say that the retirees just got a raise.

PamD:
Dr. Bob - that is good news! Straight from an Iraqi citizen! Cool! I'm encouraged by seeing the progress out in plain sight. I remember when there was NOTHING in the news that resembled good regarding Iraq. This is all great progress.

Lorelie:
I always browse DinarRecaps and run across another person that says everything is a lie since his/her banker (multiple banks) knows nothing.

Having 7 years experience in a commercial lead bank (owns all the little neighborhood branches of same name) and then 3 years at a neighborhood branch: Retail banks usually know nothing.

Just as retail cashiers at restaurants, Target, Sears, etc. know nothing. They don't know who the 'distributor' of their product is. Corporate handles that business. Retail employees are taught just what they sell: what to sell, how to sell, how to process through the computer; nothing more.

I found it soooo very frustrating when I left banking and moved out of state only to have 'an issue' and could not get resolved at the local branch.

I went in and explained the Fed Reg that the one particular branch was breaking in the way it handled my father's money. The manager had 'deer in headlights look'. No problem, I'd go to the Fed Reserve.

Then I realized that I no longer lived in a Reserve Bank City and would have to drive to Atlanta. No. So letter to that branch's 'lead bank' and copy to the Fed Reserve resolved the issue I had had. However that took time, so yes it was fixed, but not when I needed it.

The bankers with whom you speak in your neighborhood, or any other 'retail' location, most probably do not know this country's Bank Regulations let alone anything going on in other countries.

You most likely know more than they do. Basel III and the capital adequacy ratio, they never heard of it; corporate/lead bank monitors the overall company ratios. Prime rate, maybe they've heard of that but bet only 1 or 2 employees know what it is.

They most probably do not know what Prime represents, just what the rate is that week from a report the lead bank sends out (or someone there actually reads the Wall Street Journal).

So as TNT site has said many times, YOU know more than you realize. Trust your gut and don't worry about naysayers. We're here for the ride and will have great stories to share much later down the road.
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Post by nickgiammarino on Thu Mar 14, 2019 3:19 pm

How funny would it be if they delete the three zeros and only give the local citizens 30 days to exchange their old dinar into new dinar?
 
I bet the dirty dinar dealers would charge 15-30% to exchange old to new dinar, if they even will, and even then, since it's not a revaluation, what new lies will the gurus spew then?


Remember, Iraq could do this, India did, North Korea did, and countries occasionally just want people to exchange their notes, so what do you guys think?

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Post by Sam I Am on Thu Mar 14, 2019 4:52 pm

I think the dealers will disappear when the redenomination begins, because Iraq isn't going to accommodate dealers outside of Iraq.  This is why at this point I'm skeptical as to whether they'll ever actually carry out the changeover.  The Iraqis don't want to give up the billions of USD represented by the trillions of IQD outside of their country.  My guess is we'll still be waiting for this five years from now.  In the meantime the dinar is more likely to lose value than gain.

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Post by RamblerNash on Thu Mar 14, 2019 10:53 pm

When the CBI announced the 50 Dinar notes were going away, all the dealers removed them from their websites.

What's funny is all the Gurus, who have those secret sources, didn't know about it until after it happened, just like when the CBI changes the rate. They only say something after it happens...
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Post by Sam I Am on Thu Mar 14, 2019 11:06 pm

Nash, I wrote about this over seven years ago when articles came out discussing this.  The first article was a lop article saying that they would issue a new 50 note worth 50,000 IQD.  Then another article came out contradicting it, saying that they were going to issue larger denoms instead.  It turns out that's what they ended up doing.  

http://dinardouchebags.blogspot.com/2011/11/new-50-dinar-note.html

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