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wmcmacken

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  1. 1: CBI and Shabibi have stated in news articles that a large portion of the dinar have been called in. -no I don't have links, look in the forums. 2: If Chapter 7 was only "guidelines" then why are there articles every day from Iraq about how hard they are working to have it lifted?
  2. Interesting that they would skip a regular work day to return on one of their days off. Right before the usual Sundays that we always are listening to rumors about. Are they close enough to hold the confidence vote for Maliki yet?
  3. The bottom line is that you are depositing CASH into your account. The amazing and hard to comprehend part of it all is that you had the opportunity to purchase that cash at an artificially depressed price. The CBI themselves allowed you to purchase it this way by selling the cash when it was so cheap, no-one made them do it, it was Shabibis choise to hold the cash auctions. CASH is CASH.
  4. Why would they return to work on the weekend? I hope the rest could be right.
  5. Colorado is the finest place! My wife and I moved all over the west for years, Colorado is the place we had to come back to and stay! Denver was OK, but the western slope is heaven on earth. Red rock desert out one window, mountains out the other.
  6. It could be a translation difference, but I read that article to mean that they are calling for a parliament session lasting two weeks.
  7. I hope this is not already posted: Categorized | Banking & Finance, Mark DeWeaver on economics Redenomination an unlikely priority for the CBI Posted on 25 September 2010. Tags: CBI, iraqi dinar, Redenomination Redenomination an unlikely priority for the CBI Earlier this month it was reported that the Central Bank of Iraq (CBI) might redenominate the Iraqi dinar after the new government is formed, exchanging one new dinar for 1,000 old. (For more on this story, see http://www.iraq-businessnews.com/2010/09/14/central-bank-wants-to-drop-zeros-from-iraqi-dinar/.) While such a redenomination would obviously help to simplify transactions and record keeping, it is not clear that these benefits would be sufficient to justify the costs, both to the government and the economy as a whole, of switching to a new currency. It’s not even true that all transactions would be simplified. Consider the ISX, for example, where stocks have a ID 1 par value and most of the share prices tend to be in the ID 1 – 30 range. While the redenomination is usually presented as a matter of “knocking off three zeros,” in the case of a name like BCOI, which last traded at ID 1.38, you’d actually be “tacking on” three zeros as the price in the new currency would be 0.00138. Would the companies then have to consolidate their shares, replacing every 1,000 old shares with 1 new one? In any event, it’s not really clear why the CBI would choose to redenominate the dinar at this time. Historically, redenomination has typically been done either as part of “heterodox” inflation-fighting programs or, more rarely, as a way of expropriating wealth. (Heterodox programs are designed to lower the public’s inflation expectations, mainly through administrative measures such as wage/price controls.) For example, episodes of hyperinflation led to the introduction of the Argentine peso, which replaced the austral at a rate of 1:10,000 in December, 1991 and the Brazilian real, which replaced the cruzeiro real at a rate of 1:2,750 in July, 1994. More recently, North Korea replaced existing won notes with new ones at a rate of 1:100 last November, capping exchanges at W 100,000 per family (about US$ 40 at black-market rates), with the evident intent of wiping out free-market traders. With Iraqi inflation now in the low single digits and, as far as we know, the government not out to expropriate anyone’s cash holdings, it’s hard to see why redenomination would be a priority. And indeed the disadvantages of having three extra zeros to deal with aren’t all that clear either. Think of the South Korean won, which at 1,150 to one US dollar is worth about ID 1.03. Does anyone really think there would be big benefits to the Korean economy from “knocking off” three zeros from the currency? http://www.iraq-businessnews.com/2010/09/25/redenomination-an-unlikely-priority-for-the-cbi/
  8. The one thing I learned from an acquaintance is that you should be very careful with the power of attorney stuff. He was a wealthy man until he signed a power of attorney form. Now his hired help is a wealthy man in a foreign country.
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