Conversation with High-Level CBI Employee POSTED ON ANOTHER SITE

Conversation with High-Level CBI Employee POSTED ON ANOTHER SITE

Hi guys,

I had emailed you a while back asking if you had any questions to ask a high-level CBI employee who was here in the U.S. visiting a friend of mine who is an Iraqi refugee. I didn’t hear back from you, but I did ask my own questions.

In typical Iraqi fashion, the answers were somewhat circular and not very specific. Because of what the banker said about fearing for his life, I must ask you NOT to share the details.

This is taken directly out of my response back from my friend. So I’ll leave it fairly raw so as to not interject my own opinion into it.

Q: I asked about removing the zeroes and what denoms would be kept, and would there be a sudden change in value of IQD.


A: He smiled mocking the chaos over there, said everyone is trying to build some credit and gain spot lights by making stupid unofficial announcement .. the guy is retiring in few months because he is afraid of his life, being the one openly against this plan .. and also because its impossible to work in such stupid environment .. he held this position for more than a decade .. anyways, so after this removing 3 zeroes announcement was done, they asked him to do a feasibility study and put a plan .. do you see what kind of idiots are running the country now? so he did the study, and it showed the crazy cost of doing something like that, they didn’t even think about the contracts they already signed with international companies .. withdrawing process, and yes they wanted to withdraw 1k too .. they had no clue of how to do a new pricing strategy and how to suck the market .. and the process of destroying the k notes .. all these and other costs .. beside the war wealth people .. nothing of this they thought about .. so when he and his team finally submitted the full study, the government froze the decision .. meaning, its not active anymore .. and there is another issue he highlighted it and I missed thinking about this before .. any and that means any financial announcement from CBI is never done orally or on TV .. the CBI releases a monthly booklet with all the decisions typed, so before 2003 war when you wanna know more about something you go and get this booklet for free and read all in details .. if you didnt find it in one of these booklets then its a rumor and a lie .. and this removing 3 zeroes announcement was never in any booklet ..

Amidst all the non-answer, one thing that stood out to me was that the plan to remove the big notes included the 1,000 note.