28 replies to this topic

[yota691]

Expert: Project must be careful to delete the zeros to avoid the possible collapse of the national currency when applied
Dated: 7/28/2012 12:17:56 Saturday



Baghdad (news) .. Alerted the news of economic reconcile inhibitor, from the possible collapse of the national currency at the application of the deletion of the three zeroes from the currency, calling for an economic feasibility study for the project before its implementation.
said inhibitor (of the Agency news) on Saturday: The project to restructure the local currency by deleting three zeros of which needs to be enough time for discussion by experts and specialists, study in detail to see the results of negative and positive and the extent of its importance to the economy and its impact on the national currency. suggested: Launch of the new currency along with the old currency for a period of not less than (10) years so as not to cause damage to the economy or breach of in the market, noting that Turkey fought experience and has seen an economic crisis as a result of launching a new currency for once with the withdrawal of the entire currency of the old. He added, must be careful before implementing the project to delete the zeros because it is a large project concerns the general public and its effects directly on the economy, whether positive or negative, calling for the development of good mechanism to be applied to prevent the occurrence of probably cause by which a collapse of the local currency, a public placement, fraud, or the like. and the central bank announced earlier in the year 2013 will see the deletion of zeros and switch the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the upcoming changes. and demanded the prime minister's central bank to wait to draft the three zeroes deleted from the local currency, saying he was a big project and needs to be enough time to apply. / Finished / 8. d. Q /

http://www.ikhnews.com/news.php?action=view&id=50100

[zigmeister]

Sooo Turkey's RD hasn't been such a success.

[zul]

Sooo Turkey's RD hasn't been such a success.

Only lopsters say Turkey was a success. Iraq dont want to be like Turkey...

Turkey fought experience and has seen an economic crisis as a result of launching a new currency for once with the withdrawal of the entire currency of the old.

Read more: http://dinarvets.com.../#ixzz21vikwcQ8

[Butifldrm]

How the IMF Ruined the Turkish Economy

By
Henry C.K. Liu


This article appeared in AToL on September 16, 2003



I was invited to give a lecture on "The Global Economy in Transition" at the Seventh International Conference on Economics held on September 6-9 at the Economic Research Center of the Middle East Technical University in Ankara. The conference brought together from all over the world prominent economists with diverse viewpoints and special expertise, ranging from central bankers and policy specialists to academicians and scholars. The ideological range covered neo-classical to Marxist economics, as well as apolitical macroeconomics and mathematical modeling experts.


The event also gave me occasion to review the economic situation of Turkey, a country that paid dearly for playing by the rules of the International Monetary Fund (IMF) and neo-liberal market fundamentalism. The Turkish government, in its good-faith efforts to join the European Union, has managed to plunge the country's economy from the frying pan into the fire.

read more: http://henryckliu.com/page85.html

[zigmeister]

How the IMF Ruined the Turkish Economy

By
Henry C.K. Liu


This article appeared in AToL on September 16, 2003



I was invited to give a lecture on "The Global Economy in Transition" at the Seventh International Conference on Economics held on September 6-9 at the Economic Research Center of the Middle East Technical University in Ankara. The conference brought together from all over the world prominent economists with diverse viewpoints and special expertise, ranging from central bankers and policy specialists to academicians and scholars. The ideological range covered neo-classical to Marxist economics, as well as apolitical macroeconomics and mathematical modeling experts.


The event also gave me occasion to review the economic situation of Turkey, a country that paid dearly for playing by the rules of the International Monetary Fund (IMF) and neo-liberal market fundamentalism. The Turkish government, in its good-faith efforts to join the European Union, has managed to plunge the country's economy from the frying pan into the fire.

read more: http://henryckliu.com/page85.html

WOW! No wonder the government put the skids on an RD.

[Doctor Smith]

WOW! No wonder the government put the skids on an RD.

If they are going to LOP RD it would cause their currency to fail. Investors would dump it just as fast as if they had an RV. Plus. It would be a neutral event so they wouldn't gain anything from it.

Do they want to RV and get filthy rich? Or do they want to cut their own throats to LOP and spite investors?

[Laid Back]

If they are going to LOP RD it would cause their currency to fail. Investors would dump it just as fast as if they had an RV. Plus. It would be a neutral event so they wouldn't gain anything from it.

Do they want to RV and get filthy rich? Or do they want to cut their own throats to LOP and spite investors?

In my opinion they want to RV. but they keep printing the LOP articles to scared and confused all the investor.

Go RV.

[zigmeister]

If they are going to LOP RD it would cause their currency to fail. Investors would dump it just as fast as if they had an RV. Plus. It would be a neutral event so they wouldn't gain anything from it.

Do they want to RV and get filthy rich? Or do they want to cut their own throats to LOP and spite investors?

Well apparently there are some who do not want to go to the Turkey shoot. I mean really, why would you......a neutral event true, but down the road it may not be worth the gun.

[Cosmo]

For every article talking about how rich Iraq is to become there's an article from their press talking about how they're not going anywhere. If they are trying to discourage investors, then what's the purpose of doing it? And why do it over and over and over? This three zero drop thing is going on for two years maybe longer. I need to break away from following their nonsense again I see.

Adam, I'll just wait on your e-mail and chill some more...

[Dinar_o'saurs]

+1 Butifldrm. Thanks for the link. Interesting reading.

[hammer911]

When ever I read story's from the press that are conflicting to others from a day or so before them I always consider how the USA government does this. There on all the news shows telling different story's. Dem's say one thing REP. says another...fox says one thing CNN says another. They play the same game.. It's all political BS back and forth. IT is going to happen...But when it is best for the winning team.....It's all worked out.. They are just getting political currency for next elections like our gov does..... GO RV!!!~~~

[Butifldrm]

+1 Butifldrm. Thanks for the link. Interesting reading.

Dinar, I would not be surprised to see a redenomination of the Euro. From what I'm reading and seeing it looks like, that's where the EU is heading, thanks to the IMF and World Bank. It's definitely planned in my opinion. Ray Charles could have seen Greece did not have the economic infrastructure or resources to support a 1.47 exchange rate. The US in the height of our industrial revolution did not support an exchange rate over a 1.00. What were they thinking? Now what's really interesting is how all this falls out will affect us.

[uncirculd]

How the IMF Ruined the Turkish Economy

By
Henry C.K. Liu


This article appeared in AToL on September 16, 2003



I was invited to give a lecture on "The Global Economy in Transition" at the Seventh International Conference on Economics held on September 6-9 at the Economic Research Center of the Middle East Technical University in Ankara. The conference brought together from all over the world prominent economists with diverse viewpoints and special expertise, ranging from central bankers and policy specialists to academicians and scholars. The ideological range covered neo-classical to Marxist economics, as well as apolitical macroeconomics and mathematical modeling experts.


The event also gave me occasion to review the economic situation of Turkey, a country that paid dearly for playing by the rules of the International Monetary Fund (IMF) and neo-liberal market fundamentalism. The Turkish government, in its good-faith efforts to join the European Union, has managed to plunge the country's economy from the frying pan into the fire.

read more: http://henryckliu.com/page85.html

Since we started these wonderful programs and dominate them, it would just seem Turkey has bee another one of our victims. We are raping the ME, and "trying" to install democracy. Iran is trying to do the same thing. They want to install their what ever it is they govern with and we want to install ours. But we make big rules.

[keepmwlknfny]

Sooo Turkey's RD hasn't been such a success.

The redenomination itself was a success for them......its their economic policy that has failed them....that's why we see these so called "experts" saying that now is not a good time for Iraq to RD and it could end up hurting them without the economical stability that is needed...

Monetary policy and economic policy are two diff things......redenominations and revaluations are not a fix all for the economy.....its not what they are designed for.....

[doctor robbins]

Only lopsters say Turkey was a success. Iraq dont want to be like Turkey...

I guess you consider Shabibi a lopster because he considers Turkey's redenomination a success.

[zul]

I guess you consider Shabibi a lopster because he considers Turkey's redenomination a success.

Is there a "lopster" outside DV.?

[zul]

Anyway...this was what Shabibi said....

on the lifting of the zeroes of the dinar Shabibi said the process would not affect the strength of the dinar and these zeros will be removed gradually.

To me, it sounds like he's in total agreement with what is being said in the news......

noting that Turkey fought experience and has seen an economic crisis as a result of launching a new currency for once with the withdrawal of the entire currency of the old.

Read more: http://dinarvets.com.../#ixzz226KoDq8t

[keepmwlknfny]

Anyway...this was what Shabibi said....



To me, it sounds like he's in total agreement with what is being said in the news......

Let me ask you.....does your currency determine your economy or does your economy determine your currency?? (Value)

All the "statements" that people are bringing forward to say that Turkeys RD was a disaster, mention about the economic problems that caused a decline......their economy didnt face problems because they RD.....their currency depreciated after the RD because of economic policy issues....

Which again is why we see some articles saying Iraq is not stable/ready to make this move....(And that would go for a RD or a RV)

[Retiredofficer]

Even though we might sit on polar-opposites, I can appreciate "keepmwlkfny's" point of view. He has been on this site since I can remember. His opinion & beliefs along with many others are what makes this site the most legitimate. His role here is very similar to that of "Fox News" which is to keep:o the current administration honest, because without them, we all would be hooked on kool-aid & believing our economy is kicking arse. I appreciate your consideration in this matter.

Thanks in advance,
Retired Officer

[zigmeister]

The redenomination itself was a success for them......its their economic policy that has failed them....that's why we see these so called "experts" saying that now is not a good time for Iraq to RD and it could end up hurting them without the economical stability that is needed...

Monetary policy and economic policy are two diff things......redenominations and revaluations are not a fix all for the economy.....its not what they are designed for.....

Your right Keep the economic policy does indeed dictate the strength of the economy. However imo while the RD in Turkey went smoothly, or was successful you have to also consider the end result. Because of their economic policies the RD was not a success, it has failed thus far. CBI is selling their plan to the Iraqi's the deletion of zero's will make the dinar stronger, but what they aren't telling the people it could fail if their economic policies are not stable. If they do this and it fails, the mistrust of the Iraq's would surge, as will the dollar.