Frank26 Question “I’m new here…when this blessing comes would you suggest to take all of it at once or just a little bit?” That’s your prerogative. I cannot guide you. Yeah, it’s a speculative investment but logic says check it out, see what the rate is, if you like it exchange what you got. If you think it’s going to go up in value internationally on a float, exchange a little and hold on to some. You have to make that decision. I cannot tell you on a speculative investment. [Note: Consult your investment advisors at the appropriate time to construct a cash out plan that’s best for your unique circumstances.]
Militia Man What’s not going to happen is that they’re going to take Iraq into the international world at 1310 IQD to 1 US dollar to rebuild a country…
Sandy Ingram Rafidain Bank is the largest bank in Iraq with 165 branches inside Iraq and branches in Cairo, Ankara, Beirut, Abu Dhabi, Bahrain, Sana’a, Amman and Jabal Amman. Write these locations down because they made be location where we can exchange currency with the IQD make a move…if we are not able to exchange the currency in the United States.
Pimpy Question: “Why are you investing in the Iraqi dinar?” Because I think it’s going to change in value and I can benefit from it.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: My bank friend told me that [the new green 1000 dinar note] is on the CBI website. FRANK: Fils will not only be in precious metals but they will also be in paper…You might see an article about this today or tomorrow…Look at this note [new green 1000]…it looks like a 1000 note but…this green one is going to become part of your ability to give back change. FIREFLY: None of us have seen this before. FRANK: This is 100% proof you have a new monetary reform coming because if they’re going to introduce these fils in a paper form then that means you have a new exchange rate to adjust to it.
Buckeyetree [Response to Guru Deepwoodz new 1000 fil note post below] We do not know the exact rationale for the CBI to display a 1000 fils note or imply its future use if there is also to be a one dinar note…We have both a paper one dollar bill and a silver one dollar coin…The 1000 fils note could be released as tender but may become a collector’s item while still legal tender. Such is the case of the $2 dollar bill, not widely used but still legal tender. The CBI is holding back…the photos of the primary lower denoms. The 1000 fils note photo may be a way to give confidence to the contractors that big changes are on the way with an exchange rate that would support the use of such a 1000 fils note.
Kaperoni To date Iraq still has the majority of their working force dependent on the state. Diversifying their economy, creating a private sector, private businesses, engaging with the world, exporting products are all good things that would support the growth of their currency.
Deepwoodz [Response to Guru Frank26’s new 1000 note post below] Why would you need a 1000 fil note? Wouldn’t that be 1 dinar? That’s what it is in Kuwait and other countries that use dinar. No way you print two notes to represent the same value. Can someone help this make sense? Kuwait’s are 1, 5, 10, 20, 50, and 100 fils. 1000 to a dinar. No reason Iraq would be any different. Doesn’t really matter, I don’t care if they print three versions of the 1 dinar note. As long as they print at least one, I’m golden.
Militia Man Article: “Floating the dinar returns to the forefront will the Central Bank of Iraq resort to it and what the risks?” The bottom line is Iraq is going to make an exchange rate change. They’ve told you about it…A managed float is a mix of a fixed and a float…Are they going to change it to a free float? Probably not because there’s a lot of risks at that stage...Ultimately what is their goal? Raising the value of the dinar against the dollar. That’s what they’re going to be trying to do…
Frank26 On the CBI website back in January of this year…the CBI started the monetary reform campaign to the Iraqi citizens…It was on January 1, 2024 that the Central Bank of Iraq displayed this green looking currency…You’ll notice three zeros. What this is a 1000 but it is not what you think it is. What is the color of the 1000 note that’s out there right now? Yellow/gold…What’s this 1000 note that’s green? …It is a fil…They are not going to release a 1000 lower note…They’re not only going to release coins made out of precious metals but they’re also going to release fils in paper.
Bruce [via WiserNow] Somebody put something out about taxation, or this this would be a taxable situation for us – it is not a taxable event…It’s BS don’t buy it – not a taxable event period. [Note – always consult with your tax professional at the appropriate time.]
