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Thursday, November 10, 2016

HUB UPDATE, 10 NOV

Hub   Article:  "CENTRAL BANK: THE DELETION OF ZEROS IN EARLY 2017"  Quote:  "The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project."  
A thought…….they are about to change the value of a 25,000 note from $22 to maybe $75,000, why would they say we are going to do this is 2017 so every Tom, Dick and Harry can go buy some more...i think it is a ploy and i would not be surprised to see it much quicker...  

Q: [...since the CBI indicating the dropping of the 3 zeros in early 2017, does that mean that based on this article we wouldn't see a change until then or would they have to begin the rate change part of the process sooner...?]

Hub:   in my own humble opinion, I think they would have to implement the change before dropping the zeros which is really bring out lower denoms and getting the big notes off the street.

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