I am now hearing they plan to start up the “project to delete the zeros” once again next month (December) and also launch the new 50K notes at this time. Launch the 100k notes in early 2016. Remember they can’t launch these new notes without some significant increase in the value of the Iraqi dinar.
Also the lower denomination bills and coins must also be launched at or about the same time period since the 50k and 100k notes are to be part of the long term, permanent currency for Iraq along with the new lower denominations and coins. Keep a close eye out especially for news of the launching of the coins.
Why? Because if they launch the coins they MUST RV FIRST…they unsuccessfully launched coins in the past without an RV and it was a huge blunder. This mistake cost them billions.
that the purpose of the issuance of this category of the “50” thousand Iraqi dinars IS TO REMOVE THREE ZEROS FROM THE IRAQI CURRENCY IN THE DISTANT FUTURE, to facilitate internationalized currency among citizens”.
Did someone say to facilitate internationalized currency (or in other words make the currency “international”)? WOW? … We are just waiting for them to completed the RV process so they can trigger it. In the meantime they have given themselves enough of a timeline to try to complete the needed laws to support the reforms.
These reforms will ensure Iraq can maintain and build a healthy economy afterwards. They are definitely setting themselves up for a near future global currency and a significant increase in the value of their currency. No doubt about it! This is the time!
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