Pimpy Look, there’s no saying for sure they’re going to take the zeros off. Common sense tells you that they are but they might surprise us. All we got to do is cross our fingers. Let’s hope they keep the zeros on and they give us a new rate…
Samson Article: “Iraq joins the club of advanced countries in electronic payments with 22 million bank cards.”
Militia Man They’re going cash less. That’s just the way it’s going to be. They’re not going to need much cash. When they revalue their currency to a different denomination and they apply a real effective exchange rate, they’re not going to have big notes anymore. It’s going to be less cash.
Frank26 Currency manipulation is not allowed by Donald Trump and that’s what he’s dealing with right now. And guess what Iraq is doing – currency manipulation. Who do you think is the number one country on his list to take care of with this currency manipulation? Who’s the lynchpin?
MarkZ [via PDK] Comment: [Guest Guru] Mike Bara thinks today may be our rate change day. MarkZ: I would love it if he was right. I think we may be further out than that- but there is a lot happening right now.
Clare Article: “The era of the digital republic has begun. Iraq is cashless, and the Central Bank imposes its authority as the ‘ruler of the country.’ ” Quote: “Al-Tamimi explained that the government seeks to reduce demand for cash by converting transactions into digital electronic formats, which will ease pressure on the public treasury.”
Pimpy So why do you need to create a whole new Iraqi dinar? They’re going digital. When that happens they’re going to tell us everything we need to know about the exchange rate, any changes that are going to be made to it. We’re going to be able to get them by exchanging the Iraqi dinar at your local bank when this pops off and you’ll be able to exchange it for your dollars.
Samson Article: “The era of the digital republic has begun – Iraq is cashless, and the Central Bank imposes its authority as the ‘ruler of the country’ ”
Kaperoni Article: “The era of the digital republic has begun. Iraq is cashless, and the Central Bank imposes its authority as the ‘ruler of the country.’ ”
MarkZ It’s playing out just like we thought it would…I guess we just hoped it would be easier…It will happen when it happens, we know it’s inevidable, we just don’t know when…
Mnt Goat …Didn’t the UN just tell us that “IRAQ WILL BECOME A BANKING POWERHOUSE BOTH DOMESTICALLY AND INTERNATIONALLY”. Yes, wealth is leadership and Iraq is certainly taking the point lead under Al-Sudani in this area…