Parliamentary Finance: budget 2013 will be the new currency after deleting three zeros

[yota691]

Tuesday July 3, 2012

Iraq's economy

Parliamentary Finance: budget 2013 will be the new currency after deleting three zeros

Author: HM Editor: NQ | SS Tuesday, 03 تموز 2012 15:01 GMT

Sumerian News / Baghdad

announced that the Finance Committee of parliament Tuesday that the budget next year 2013 will be the new currency after deleting three zeros from the current currency, arguing that the reluctance of traders and companies from trading in Iraqi currency behind the adoption of the Central Bank of the project to delete the zeros. said committee member Najia Najib in interview for "Alsumaria News" that "the budget next year will handle the new currency after deleting three zeros from the current currency," stating that "the process of switching the currency and delete zeros will take approximately two years after the preparations for the process that began more than a year." The answer that " Council of Ministers approved during the meeting the Governor of the Central Bank on the project to delete the zeros and replacing Iraqi currency after it decided earlier in the patient as the project due to rising dollar on the domestic market for the past few months, "noting that" the project to delete the zeros and currency exchange aims to restructure the Iraqi currency and in the form which is consistent with doing business in Iraq, internally and externally. " and confirmed the answer that "the Finance Committee and the Central Bank had agreed at its last meeting to be next year's date for the start delete the zeros and the balance of 2013 the new currency unless there was a barrier transmitting without it," emphasizing "the need to support the government and parliament of the project to restructure the Iraqi currency. " and considered answer that "the reluctance of traders and companies from the use of Iraqi currency and trading it may push the central bank to adopt a project to delete the zeros," asserting that "this project would reform the system of currency management and to facilitate their use." The Finance Committee hosted (26 June), Deputy Governor of the Central Bank of the appearance of Mohammed Saleh to discuss the mechanism that will be followed by the bank in the process of deleting the zeros and how long this process and changes that will occur on the exchange of currency. A member of the Finance Committee Haitham Jubouri in (15 May 2012) in an interview for "Alsumaria News", the month of January of next year 2013 will see the deletion of the three zeros and the replacement of the currency, as will next September 2012, the direct printing of new currency in different categories. The central bank accused in the (12 September 2011), government agencies to block monetary reform and vowed persecuting, blaming the authorities responsible for endangering the interests of the country's financial risk. what was seen as an adviser to Prime Minister for Economic Affairs (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if it was during this period, and fall under the rubric of tampering with the economic, warning of "mafias currency" is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes. It is noteworthy that some economists believe that Iraq is ready for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion needs to stabilize the security and political as well as economic stability.

http://www.alsumarianews.com/ar/3/43998/news-details-.html

[R Veyron]

Here we go.....

[Laid Back]

"the process of switching the currency and delete zeros will take approximately two years after the preparations for the process that began more than a year."

Thanks for the post yota

[Maggie123]

Thank You Yota Dear Great Article, Very Interesting Indeed!

Edited July 3, 2012 by Maggie123

[MoonRover]

so the fiscal year starts Jan 01... here we go again... sit and wait....

[asad]

It can still happen at anytime.

[Mammaw]

It is noteworthy that some economists believe that Iraq is ready for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion needs to stabilize the security and political as well as economic stability.

Yota, you bring the most interesting articles to the site.

I hear them saying that they are looking at deleting the zeros...and SOME of us believe what they are saying is that they are wanting to remove the 3 zeros in .00086, aprox. and make it .86 aprox an IQD. And THAT will bring in a stable security and economic stability. Makes perfect since... And I think they will do it sooner rather than later, due to all the unrest going on. YES I know there have been bombings for a long time. BUT if they have money to feed and clothe their families, who in their right mind would blow himself up for money...NOT that many I am thinking. So, the point that has been made here many many times, they need the RV more than we do. And while 2013 budget might be based on it...wont hold it back from happening sooner. But only time will tell.

[icfaith]

And for all the LOP-ster's.

"the budget next year will handle the new currency after deleting three zeros from the current currency,"

Do we all see this? handle the new currency after deleting three zeros from the current currency

So they plan to RV the current currency then handle the new currency.

Not replace the currency. As said all along, this currency is to be added to the current currency. Then after a period of time, phase out the large notes and keep them in the Federal Reserve of the Central Banks across the world.

[icfaith]

Understand, the goal now for Shabibi is to get the Iraqi's to stop using the US Dollar and start having faith in their Iraqi Dinars.

First Shabibi got the dinar value low so people would exchange their dinars for US Dollars. This helped Shabibi to pull in many of the large Iraq dinar notes so they could minimize the amount of Dinar. He knew they had too much printed. Once Shabibi accomplished this and I might add, he did this to such an extreme that all that is left out on the streets are 500's and below which really pissed of the population as we saw many articles a couple of years ago stating people were tearing small bills up stating they are worthless, stating they had to carry paper bags full of money just to go grocery shopping. Nevertheless, he continued with the project to get the big bills off the streets and accomplished this by late 2010 and early 2011.

Shabibi even got them to exploit the street rate of the dinar to 1230 and higher so no one over there even wanted Iraq dinars.

Now with that goal achieved, Shabibi was ready to begin the next project of reintroducing the new dinars into the system. But in order to do this Shabibi has to get the Iraqi's to regain their trust and confidence in their currency. Hence, lift the 3 zeros from .00086 to .86 from the current currency before introducing the new currency. Even this lifting of the 3 zeros will not be enough to convince the Iraqi's to switch back to using Dinars.

The value will have to be a rate where the Dinars has a higher value than the US Dollar.

So the lifting of the 3 zeros as most see it is making the Dinar value at $0.86 to a dinar, in essence it is to make the Dinar value over a $1.

Why would an Iraqi want to give up US Dollars if the Iraq Dinar is still valued at less than a dollar?

Many economists see this lifting of the 3 zeros to mean $1.17 to 1 Dinar of the current currency then introduce the new currency, revalue again, then phase out the old currency to where the large notes are only used within the Federal Reserve (CBI's) across the world.

This is why in this article above you see it state, "the budget next year will handle the new currency after deleting three zeros from the current currency,"

Edited July 4, 2012 by icfaith

[kaRV]

So they're gonna raise the value in Sept them lop it in Jan? Maybe this is our cash in time frame... Just a thought

[SgtFuryUSCZ]

***///

Between now & then let's hope

everybody keeps their fingers off the bomb buttons,

Finishes rounding- up the infidel bankers,

Cleans our own house here at home,

Sees all our own COME HOME,

and, God wiling, don't let WF fail in the interim!

[rockfl9]

I interpret it this way. The September date is to officially announce the date of the changeover. Logicallly Jan 1. Gives everyone 3 months to prepare. Including getting as much new currency to the banks as possible AND educating the people. Everything needs to be ready on the changeover, prices and salarys bank balances etc. .

Obvious they would not attempt a rate change during this period.

Edited July 4, 2012 by rockfl9

[easyrider]

I interpret it this way. The September date is to officially announce the date of the changeover. Logicallly Jan 1. Gives everyone 3 months to prepare. Including getting as much new currency to the banks as possible AND educating the people. Everything needs to be ready on the changeover, prices and salarys bank balances etc. .

Obvious they would not attempt a rate change during this period.

They won't come out and tell the media that is open to the public when exactly they will start to issue them out because that could be a potential threat amongst the CBI and so forth. I personally do not believe they will wait to start introducing the LD's till January from what i read they will be introducing them gradually i believe this process will start sometime in september and be compete by early january. Also from what i have been told they have already started the campaign for the issuing of the LDS on Iraqiya television but people can believe what they will, this is one reason why I look for September to be a target date to start slowly issuing out some LDS but not all of them.

Edited July 4, 2012 by easyrider

[rockfl9]

Easy : I agree. On the date they announce the changeover and the conversion. They could begin issuing the new notes.. It would mean merchants would have to convert-up (X1000) to the current dinar value.. A little messy but dooable..But I think the CBI might not want to expose the fine details early to thwart counterfiters.

[unirod]

Easy I agree,

Why contract with more than one company to print the new currency, if the distribution of the currency won't alledgedly begin untill after Jan 1? You get a better deal with the lowest bidder, and we all know how cheap the Iraqi's are ! Our blessing can happen anytime, now through Jan...IMO

[leesburg]

Understand, the goal now for Shabibi is to get the Iraqi's to stop using the US Dollar and start having faith in their Iraqi Dinars.

First Shabibi got the dinar value low so people would exchange their dinars for US Dollars. This helped Shabibi to pull in many of the large Iraq dinar notes so they could minimize the amount of Dinar. He knew they had too much printed. Once Shabibi accomplished this and I might add, he did this to such an extreme that all that is left out on the streets are 500's and below which really pissed of the population as we saw many articles a couple of years ago stating people were tearing small bills up stating they are worthless, stating they had to carry paper bags full of money just to go grocery shopping. Nevertheless, he continued with the project to get the big bills off the streets and accomplished this by late 2010 and early 2011.

Shabibi even got them to exploit the street rate of the dinar to 1230 and higher so no one over there even wanted Iraq dinars.

Now with that goal achieved, Shabibi was ready to begin the next project of reintroducing the new dinars into the system. But in order to do this Shabibi has to get the Iraqi's to regain their trust and confidence in their currency. Hence, lift the 3 zeros from .00086 to .86 from the current currency before introducing the new currency. Even this lifting of the 3 zeros will not be enough to convince the Iraqi's to switch back to using Dinars.

The value will have to be a rate where the Dinars has a higher value than the US Dollar.

So the lifting of the 3 zeros as most see it is making the Dinar value at $0.86 to a dinar, in essence it is to make the Dinar value over a $1.

Why would an Iraqi want to give up US Dollars if the Iraq Dinar is still valued at less than a dollar?

Many economists see this lifting of the 3 zeros to mean $1.17 to 1 Dinar of the current currency then introduce the new currency, revalue again, then phase out the old currency to where the large notes are only used within the Federal Reserve (CBI's) across the world.

This is why in this article above you see it state, "the budget next year will handle the new currency after deleting three zeros from the current currency,"

i agree they can tell everyone now .. now that all those trillions of dinarts are gone .. in our mind.. and i bet thats the end of the auctions too .. theres no way anyone would be buying dollars now with dinars at 1166 dinars to one dollars especially "after" reading this "after"secret code story.;;; they are plainly telling us they will give us millions of dollars for 1000s of dollars investments ....that "after" thing is code ill bet .. heck "after " reading this story ....their will most likely be muggings and roberys out the ying yang what with everyone out their walking around with truck loads of dinars just to buy groceries right now .. since they know now that those 23 dollar 25,000 notes will be worth what .. about 30 grand at 1.17 dollars per current dinar ..... heck they dont even need to pull these dinars now they will be worth face value .. were gonna be rich ... talk your friends and family members into buying up all the dinars .. just call the dealers tommarro .. they will still have dinars for 1000 per million dinars .. im selling my farm tommarro for half price just so i can buy another 100 million dinars ... ill be worth 100 billion dollars in january .. i finally read the truth here today ...its all in the word "after ".. its after they delete the zeros they are putting out the new currency .. since if it wasnt "after"... it would be before.. there fore being not worth zippidy do dah.. ill see ya in january at the big party in vegas ...

Edited July 4, 2012 by leesburg

[SWFloridaGuy]

Understand, the goal now for Shabibi is to get the Iraqi's to stop using the US Dollar and start having faith in their Iraqi Dinars.

First Shabibi got the dinar value low so people would exchange their dinars for US Dollars. This helped Shabibi to pull in many of the large Iraq dinar notes so they could minimize the amount of Dinar. He knew they had too much printed. Once Shabibi accomplished this and I might add, he did this to such an extreme that all that is left out on the streets are 500's and below which really pissed of the population as we saw many articles a couple of years ago stating people were tearing small bills up stating they are worthless, stating they had to carry paper bags full of money just to go grocery shopping. Nevertheless, he continued with the project to get the big bills off the streets and accomplished this by late 2010 and early 2011.

Shabibi even got them to exploit the street rate of the dinar to 1230 and higher so no one over there even wanted Iraq dinars.

Now with that goal achieved, Shabibi was ready to begin the next project of reintroducing the new dinars into the system. But in order to do this Shabibi has to get the Iraqi's to regain their trust and confidence in their currency. Hence, lift the 3 zeros from .00086 to .86 from the current currency before introducing the new currency. Even this lifting of the 3 zeros will not be enough to convince the Iraqi's to switch back to using Dinars.

The value will have to be a rate where the Dinars has a higher value than the US Dollar.

So the lifting of the 3 zeros as most see it is making the Dinar value at $0.86 to a dinar, in essence it is to make the Dinar value over a $1.

Why would an Iraqi want to give up US Dollars if the Iraq Dinar is still valued at less than a dollar?

Many economists see this lifting of the 3 zeros to mean $1.17 to 1 Dinar of the current currency then introduce the new currency, revalue again, then phase out the old currency to where the large notes are only used within the Federal Reserve (CBI's) across the world.

This is why in this article above you see it state, "the budget next year will handle the new currency after deleting three zeros from the current currency,"

Thanks and Happy 4th by the way.

[BelievingInTheBest]

Thanks for the tip Leesburg! My farm just went up for sale to the fastest bidder. Man oh man do I wish those dealers were open today. Just can't get more dinar fast enough!!! (Much sarcasm intended here.)

Come on already Leesburg, give it a rest. We all know where you stand with this. I choose to have a great 4th with an optimistic and real outlook.

Happy Independence Day everyone!

Edited July 4, 2012 by BelievingInTheBest

[JWJW11]

i agree they can tell everyone now .. now that all those trillions of dinarts are gone .. in our mind.. and i bet thats the end of the auctions too .. theres no way anyone would be buying dollars now with dinars at 1166 dinars to one dollars especially "after" reading this "after"secret code story.;;; they are plainly telling us they will give us millions of dollars for 1000s of dollars investments ....that "after" thing is code ill bet .. heck "after " reading this story ....their will most likely be muggings and roberys out the ying yang what with everyone out their walking around with truck loads of dinars just to buy groceries right now .. since they know now that those 23 dollar 25,000 notes will be worth what .. about 30 grand at 1.17 dollars per current dinar ..... heck they dont even need to pull these dinars now they will be worth face value .. were gonna be rich ... talk your friends and family members into buying up all the dinars .. just call the dealers tommarro .. they will still have dinars for 1000 per million dinars .. im selling my farm tommarro for half price just so i can buy another 100 million dinars ... ill be worth 100 billion dollars in january .. i finally read the truth here today ...its all in the word "after ".. its after they delete the zeros they are putting out the new currency .. since if it wasnt "after"... it would be before.. there fore being not worth zippidy do dah.. ill see ya in january at the big party in vegas ...

And you still can't let go! :lol:

[icfaith]

i agree they can tell everyone now .. now that all those trillions of dinarts are gone .. in our mind.. and i bet thats the end of the auctions too .. theres no way anyone would be buying dollars now with dinars at 1166 dinars to one dollars especially "after" reading this "after"secret code story.;;; they are plainly telling us they will give us millions of dollars for 1000s of dollars investments ....that "after" thing is code ill bet .. heck "after " reading this story ....their will most likely be muggings and roberys out the ying yang what with everyone out their walking around with truck loads of dinars just to buy groceries right now .. since they know now that those 23 dollar 25,000 notes will be worth what .. about 30 grand at 1.17 dollars per current dinar ..... heck they dont even need to pull these dinars now they will be worth face value .. were gonna be rich ... talk your friends and family members into buying up all the dinars .. just call the dealers tommarro .. they will still have dinars for 1000 per million dinars .. im selling my farm tommarro for half price just so i can buy another 100 million dinars ... ill be worth 100 billion dollars in january .. i finally read the truth here today ...its all in the word "after ".. its after they delete the zeros they are putting out the new currency .. since if it wasnt "after"... it would be before.. there fore being not worth zippidy do dah.. ill see ya in january at the big party in vegas ...

Hard for you to believe things right in front of your face I see. No problem. I respect your views. Don't see anything worthy in them but I respect them never the less.

[yota691]

 This article almost a Year old....Just thought a refresh would be cool  LINK

Edited April 4, 2013 by yota691

[Elixirbaby]

Interesting times, it is. The force is strong with this one.

[vomer]

that "delete the zeros" jingle makes me nervous.

[SnowGlobe7]

frankly "new currency" makes me nervous. I have a fear that creeps up that Iraq will replace the currency we hold with a new one. I would think they would give us time to swap, but hey...they do not HAVE to do anything outside their border. 

[Markinsa]

frankly "new currency" makes me nervous. I have a fear that creeps up that Iraq will replace the currency we hold with a new one. I would think they would give us time to swap, but hey...they do not HAVE to do anything outside their border. 

 

They have to issue new lower denominations in order for the RV to work.

 

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