Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

BondLady Admin Tlm - Keywords: Delete The Zeros Article. All These Years Of Speculating WHEN It Will Start Are Over !


DinarThug
 Share

Recommended Posts

CNN. Broadcasting While Deleting The Zeros In My Bowl Of Cheerios !

 

 

 

 

Keywords: delete the zeros existing project and we have given the green light for its implementation

Alsumaria News / Baghdad  announced the Governor of the Central Bank on the Keywords, on Monday, the deletion of zeros existing project, as pointed out it was given the green light for its implementation, he stressed that this process will be preceded by the administrative and regulatory processes.

 

 

NB-126626-635609733622229119.jpg

 

 

 
 Alak said in a press conference held at the bank building and attended by Alsumaria News , "The project to delete the zeros is based was put into practice, and we gave the green light to start with," noting that "The project needs a period of time may extend to two years or more."

He Keywords that "this process will be preceded by regulatory and administrative operations and form in which it will be starting out in walking," noting that "the bank began creating currency models and training of cadres on it."

The Iraqi Central Bank announced in May 2012 that the process of deleting the zeros will be transferred Iraq from a country trillions to billions, noting that the currency replacing the process needs to be approved by parliament.

He accused the central bank, in (12 September 2011), government agencies obstructing monetary reform and vowed to persecuting, blaming those actors responsible for exposing the financial interests of the country to danger.

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

[tlm724] The CBI says go baby go !

[cat] wow !

[tlm724] he stressed that this process will be preceded by the administrative and regulatory processes.

[tlm724] those are all the things we have seen the CBI do recently, all the steps necessary to make this project work, the auctions are stoppped and the bills are being paid through the banking system thus disabling any corruption, embezzling etc...

[bigdinaros] timmy does this need the parliament approval?

[tlm724] bigdinaros the CBI is an independant entity , they want the support of the GOI and they have it !

[tlm724] The project needs a period of time may extend to two years or more."

[tlm724] they have been telling us this, the time to draw in all the notes to completion will take years

[tlm724] that this process would be preceded by "organizational and administrative processes that will be launched by walking,

[tlm724] ease right into it, the CBI has already set the stage, hail just the other day the had an announcement about training employee's on how to deal with customers in English. There has been ongoing training all this time . We also saw them demand the banks bundle the notes and send them in  Wink    

[tlm724] Central Bank announced in May that the deletion of zeros from the country of Iraq would be redeployed to the trillions of billions, noting that the process of replacing the currency needs to be approved by the Parliament.

[tlm724] all the numbers will change throughout the country and when Shabibi was asked years ago how he would do that he answered simply it's easy I will just insert this disc.

[tlm724] The Central Bank, accused in (12 September 2011), the Government of blocking the monetary reform and vowed to prosecute, blaming them for endangering the interests of the country to danger.

[tlm724] CBI accused the GOI of stopping this, that is what got Shabibi in hot water, he called them (Maliki) out !

[tlm724] BondLady was right ! It was supposed to happen then and she proved it 
[tlm724] Some economists believe that Iraq is now prepared to delete the zeros of the Iraqi dinar, stating that deletion requires political and security stability as well as the stability of the economy.

[tlm724] they have all they need, they are secure , Iraq will never be without violence it's the Middle East. They have a very secure and supportive GOI and a Prime Minister who is supporting them in all area's of monetary reform    

[tlm724] so we have the green light, it's a go people   Wink   we are on our way. All these years of speculating WHEN it will start are over !    

[cat] tlm724 yep 

[tlm724] the last remaining question is where will they start as far as value and I think we will know that very soon, as every other day brings new light to us and our understanding of the currency reform ! Last thought, why do you think the GOI has hosted the governor so many times recently ? They have been putting the final touches on the plan  Wink 

Morning News Comments 03/03/2015 Today at 9:26 am

Today the launch of the workers' salaries

[tlm724] the ministry completed all distribution procedures salaries in coordination with the accredited bank in Baghdad and the provinces, as well as relevant to recipients card offices (Ki Card Smart) for the purpose of workers' salaries exchange secured. " 

~~~

New mechanisms for auction currency in the Central Bank

[tlm724] has good revenue and there are no worries." While stressing that "the Iraqi dinar is covered at 150% of hard currency.

~~~

Governor of the Bank: Ahtiatatna of hard currency and very good cover of the Iraqi dinar to 150%

[tlm724] Governor of the Bank Iraqi dinar is covered at 150%, he has it covered Wink 

~~~

Central Bank denies he stopped selling the dollar confirms: virtual height will not be long

[tlm724] pointed out that bank is considering various laws to support the banking process in Iraq

[tlm724] And the relationship, that "the bank is considering various laws to support the banking process in Iraq, including the law of deposit," and expressed hope that "the law provides to the Parliament and the citizens who will pay to put their deposits in their own expenses.
  • Upvote 7
  • Downvote 1
Link to comment
Share on other sites

Monday, the deletion of zeros existing project, as pointed out it was given the green light for its implementation,

Read more: http://dinarvets.com/forums/index.php?/topic/198284-bondlady-admin-tlm-keywords-delete-the-zeros-article-all-these-years-of-speculating-when-it-will-start-are-over/#ixzz3TLCEhjmE

 

Sweet!!!!!!!!!!!!!!!!!!

  • Upvote 4
Link to comment
Share on other sites

Is this a good thing? I was reading where people speculated that deleting the zeros is bad and what the currency exchange sites are saying would be a re denomination? I am so confused, but pray that this is awesome news. I would love nothing more than to retire the hubby with this investment!

  • Upvote 1
  • Downvote 1
Link to comment
Share on other sites

Is this a good thing? I was reading where people speculated that deleting the zeros is bad and what the currency exchange sites are saying would be a re denomination? I am so confused, but pray that this is awesome news. I would love nothing more than to retire the hubby with this investment!

 

Good or bad, this ride is almost over.

 

-

  • Upvote 7
Link to comment
Share on other sites

o-k    very   cool ......


lets look at how the 50 dinar  deal went down....


it is still in the  process .....  from a years earlier post  too another site .....  our   guy scooter nailed this    ---------  the 50`s   note  started the banking ?  or  it  started the  movement  for  Iraqis  too get invested in the banking  system again

  • Upvote 2
Link to comment
Share on other sites

o-k    very   cool ......

lets look at how the 50 dinar  deal went down....

it is still in the  process .....  from a years earlier post  too another site .....  our   guy scooter nailed this    ---------  the 50`s   note  started the banking ?  or  it  started the  movement  for  Iraqis  too get invested in the banking  system again

 

Hi Jeep buddy - please no bunny-ear!

  • Upvote 1
Link to comment
Share on other sites

scooter  in 2012   mentioned ------  the banking  would need top  get  a kick stat  by  some means  ,  as  trading in  dinars  {  like the 50`s  just did }   and  most  important  the   bonds  sales  too  bank  from government  to support  the move 


we know from  recent  articles   bonds  sales  have been started .....  banking  loans  implemented  ....... now   how will they  install the value  ? 


will they  come out  low ?  in the area of  .10  too 50  cents ?   the next  few days  will  keep us  ---------->  well lets  say  ,,, sleepless  at night  I am sure

  • Upvote 4
Link to comment
Share on other sites

You know I was just thinking.  All these people who have 50 Dinar notes, probably have 250's and 500's.  If they're smart, they'd take the 250's and 500's out from underneath their mattress too, and cash them in as well. :twothumbs:

 

-

Link to comment
Share on other sites

scooter in 2012 mentioned ------ the banking would need top get a kick stat by some means , as trading in dinars { like the 50`s just did } and most important the bonds sales too bank from government to support the move

we know from recent articles bonds sales have been started ..... banking loans implemented ....... now how will they install the value ?

will they come out low ? in the area of .10 too 50 cents ? the next few days will keep us ----------> well lets say ,,, sleepless at night I am sure

I'm thinking we may not know till after 4/30 when the 50's collection is over. I believe the 4/30 is a Thursday which means they can transition to something on the Sunday.
  • Upvote 2
Link to comment
Share on other sites

N O   L  O  P  


WE REALLY HAVEN`T SEEN MUCH ON THE TOPIC OF HOW THE 50`S NOTE  CAME   OUT   {  sorry  caps  locked }   but  if  idplzer is right  that  date line will tell us  a bunch


lets  -------  remember ----  every one  saw  the zeros are coming off the  notes  25000  is now 25.oo   and every one freaked out


then  not  long after that  the  central bank  came out  saying ,, they could cover up too  2.1/2    { I think that is right }   sooooo     is this a pointer ------   will it be  2.50   per dinar  or  will this  be  something  for them  to gage  the  influx  ?    now  also  do not forget  ------- 25000   will be worth  2,500  


someone just asked me ----  so what is happening  wioth dinar  ?   :rodeo:     whoooo    hooooo  ,,,,,   I said    ,,, in all the  times  I said dinar  looking good ,  this is the  closet  we  have been too the front  door  of the bank  to  exchange  ville     

  • Upvote 2
Link to comment
Share on other sites

great gif yota

 

 

I'M NOT SURE IF THIS INFORMATION IS STILL RELEVANT, BUT I WANTED TO POST IT BECAUSE I RESPECT SCOOTER'S RESEARCH - 

 

 

Thursday, January 5, 2012

An Interview with Scooter

 

  

 

  

  Interviewer: I appreciate you taking the time to chat with me today.

 

  Scooter: Oh, you're very welcome

  Scooter: thank you for having me

 

  Interviewer: Can you tell the readers a bit about your background?

 

  Scooter: Sure.

  Scooter: I was Born in Southern California.

  Scooter: The family then moved to the great northwest at an early age.

  Scooter: Northeastern Washington is a beautiful place to grow up.  It was a small town 80 miles north of Spokane in the northern rockies.  

  Scooter: It was particularly interesting being the wild and crazy kid that I was and 

           your father was the Varsity football, wrestling, and Golf coach.

  Scooter: After high school, I moved to Phoenix and Went to College

  Scooter: Got my four year degree in 2.5 years

  Scooter: I knew if I didn't go blasting right through

  Scooter: I would never get it  -- they called me PRIMATE back then - don't ask...

  Scooter: Started my first professional position in software design

  Scooter: moved to Chicago and got recruited by a very large organization

  Scooter: to manage their software development teams throughout North America

  Scooter: It was at that time that I did two things that changed my life

  Scooter: One

  Scooter: Started playing the FOREX market

  Scooter: Two 

  Scooter: became a partner in a small startup software company

  Scooter: The FOREX venture started out bad --- at least the first week

  Scooter: we'll get to that in just a second

  Scooter: but the software venture exploded worldwide

  Scooter: The package was sold in 90 countries and 13 languages

  Scooter: big hit!

 

  Interviewer: impressive

 

  Scooter: We sold the business in 2001 but I was still playing FOREX.

  Scooter: again -- wait for that story because it gets good

  Scooter: Nevertheless, sold the software company and moved back to Phoenix

  Scooter: Chicago has incredible culture and people but the weather really stinks!

  Scooter: Now

  Scooter: back to the FOREX

  Scooter: I started FOREX in 2000

  Scooter: maybe 2001

  Scooter: anyhow, I went into the game and purchased Forex Made EZ.  Essentially, the product was 

           supposed to do it all and provide indicators as to when you buy and sell.

  Scooter: In essence, I didn't have to think.

  Scooter: So, as a result the first week, being the impatient man that I am

  Scooter: I got DRILLED !!!   I lost about 10k that first week

 

  Interviewer: ouch

 

  Scooter: My better half lynched me !!!

  Scooter: but I loved this market

  Scooter: it was like nothing I've ever experienced

  Scooter: As a result, I had to go to classes before I could ever start trading live again.

  Scooter: somewhat funny -- but I learned a very hard lesson that I still practice today

  Scooter: Essentially,

  Scooter: Never chase the market

  Scooter: always let the market come to you!

  Scooter: My instructor pretty much told me my problem wasn't that I made the wrong decision

  Scooter: it was more of a patience problem from being a MAN

  Scooter: haha

  Scooter: anyhow -- I loved this market and ever since i've been active on and off for the past decade

  Scooter: At this time, I currently live in Phoenix and just acquired another software company and it's on the precipice of exploding

  Scooter: so, I'm pretty excited

  Scooter: I purchased my first DiNAR in 2005

  Scooter: and my last batch in 2006

  Scooter: I was on a plane traveling from Phoenix to San Diego

  Scooter: and saw a full page spread in USA Today

  Scooter: and bought immediately after exiting the aircraft

  Scooter: I thought it would be a 8 - 10 year play

  Scooter: and thought it would open around $0.35

  Scooter: WOW!

  Scooter: That was one long sentence

  Scooter: LOL

 

  Interviewer: that's okay

  Interviewer: How did you get started on the dinar forums?

 

  Scooter: Ahhhh

  Scooter: The forums ---

  Scooter: Let's see, I think I joined one of the major forums in late 2009

  Scooter: I met a couple of folks and went to chat in hopes to learn a bit more about this investment.

  Scooter: At that time, I was hot and heavy in playing FOREX.  I was glued to analsys and research to learn about what's happening in the marketspace

  Scooter: I mainly was playing the majors -- rarely the exotics

  Scooter: but I quickly found out that the leaders in these forums

  Scooter: were stating information that was completely inaccurate but I stayed quietly on the sidelines 

 

  Interviewer: What do you think about the information available on the forums?

 

  Scooter: Since that time, the information and research has improved 100%

  Scooter: but I still think the community suffers from some basic problems

  Scooter: One

  Scooter: too much of the information is based on "INTEL"

  Scooter: and not on factual data coming from the organizations that do this type of work everyday

  Scooter: Just my opinion

  Scooter: at that time in early 2010

  Scooter: the information was being spewed out there and I knew for a fact that it was completely off base

  Scooter: and I also witnessed innocent people getting hurt

  Scooter: hurt badly too

  Scooter: They were overleveraging themselves to the point of losing their homes and looking at this investment as a lottery ticket

  Scooter: As a result, I engaged myself and started the massive reading binge

  Scooter: Started posting the information and the response was

  Scooter: well, it overwhelmed me and I was honored by everyone's appreciation

 

  Interviewer: So Scooter research began as a way of keeping people grounded and getting them to go by factual information?

 

  Scooter: Haaah!  Yes.

  Scooter: I suppose so

  Scooter: I started doing organized chats

  Scooter: at several sites

  Scooter: not the kind where I came in and chatted with friends

  Scooter: but a thought out written chat

  Scooter: at that point, Scooter Research was "Branded" and had it's own identity

 

  Interviewer: I see

  Interviewer: Let's talk a little about the investment

 

  Scooter: one second

  Scooter: one last item

 

  Interviewer: okay

 

  Scooter: thanks

  Scooter: NEVER in this venture have I received any fiduciary rewards or money or anything.

  Scooter: I always felt if I did receive cash, my credibility would be severely diminished. 

  Scooter: I now have a blog

  Scooter: and now get some minor $$$$

  Scooter: from the ads -- but it's nominal at best

 

  Interviewer: if it's like my blog it's very minor

 

  Scooter: I can buy my wife dinner a couple times a month

  Scooter: lol

  Scooter: Exactly

  Scooter: But I enjoy having it and it's my center where I post all my material

  Scooter: it's a hobby I guess

  Scooter: but

 

  Interviewer: the URL?

 

  Scooter: oh

  Scooter: I'm allowed to do that

 

  Interviewer: sure

 

  Scooter: emerginggeos.blogspot.com

  Scooter: Nevertheless, it's fun and I enjoy the research

  Scooter: it's just fun to me

  Scooter: I like the emerging market space and I think it's important today more than ever

  Scooter: particularly when we look at the current worldwide financial picture

  Scooter: I firmly believe that natural resources from sovereign nations

  Scooter: will be the next currency of the 21st century

  Scooter: at least, it will have a huge impact on the strength of the currency

  Scooter: so

  Scooter: I'm now researching over 42 Emerging Markets right now

  Scooter: learned a lot

 

  Interviewer: I'm sure

  Interviewer: now?

 

  Scooter: now, your question

 

  Interviewer: What do you think the current money supply is in Iraq?

 

  Scooter: Haha

  Scooter: ok

  Scooter: Well, once again, I look at the facts

  Scooter: and I take that one step farther

  Scooter: for example, when the CBI post there bi weekly financial indicators

  Scooter: I like to verify this data with other organizations

  Scooter: Because data and statistics can be made to look many ways

  Scooter: depending on the audience

  Scooter: and in Iraq's case -- a double verification is always a good practice

  Scooter: anyhow

  Scooter: when taking a look at those numbers -- I try to verify with the IMF database or World Bank Database, etc..

  Scooter: etc..

  Scooter: does that make sense

  Scooter: I hope so

  Scooter: just a practice I try and do

 

  Interviewer: yes

 

  Scooter: so back to circulation amount

  Scooter: and in Iraq, outside of banks right ?

  Scooter: ok

 

  Interviewer: ok

 

  Scooter: As of December's report ---

  Scooter: the November's number are clearly showing 26.866 Trillion IQD outside of banks

  Scooter: shows m1 to be 57.997 Trillion

  Scooter: M2 67.160 Trillion

  Scooter: now

  Scooter: with that said

  Scooter: there's some variables that we need to look at

  Scooter: one, some of that could be in reserves of other countries

  Scooter: and those reserves will never see the shores of Iraq ever again.

  Scooter: that number is unknown right now

  Scooter: and nobody knows what that amount currently is

  Scooter: but

  Scooter: we do know that within the immediate area of baghdad

  Scooter: there's approximately 4 trillion in hard currency

  Scooter: Saleh just reported that one

  Scooter: with that said, and knowing Baghdad has approximately 6 - 8 million of the populace

  Scooter: we can start dissecting and making educated guesses

  Scooter: Now, the other unknown in this equation are two items

  Scooter: The $173 Billion USD sitting at US Treasury account that came from the DFI's Savings account

  Scooter: two

  Scooter: We don't know, how much $$$$$ is being sheltered from the partner countries

  Scooter: to be dedicated to Iraq when the structural changes go down

  Scooter: What do you think the circulation in Iraq is?

  Scooter: hahahah

  Scooter: sorry, I know., you're doing the questions ...

  Scooter: lol

 

  Interviewer: My guess is 20 trillion

 

  Scooter: In Iraq?

 

  Interviewer: Like I said, it's a guess

 

  Scooter: Correct

  Scooter: just like mine

  Scooter: I think it's in the 12 - 14 range

  Scooter: probably closer to 12

  Scooter: I figure outside countries will carry 8 trillion

  Scooter: independent investors is unknown and the speculation is all over the map.

  Scooter: like I said -- everything is a guess -- ha ha

  Scooter: I think the moves that are required to reduce the circulation of the larger notes have been occurring  over the last six months in country

 

  Interviewer: Do you think there has been a significant reduction of IQD in circulation in Iraq?

 

  Scooter: Yes!

  Scooter: I think they will make the structural changes and we'll see a hybrid conversion

  Scooter: the larger notes will be sucked into the CBI and they will SOIL those notes immediately

  Scooter: the value is still the same -- i mean of the aggregate number ---

 

  Interviewer: replaced by USD?

 

  Scooter: if the value of there reserves were 25 Billion before -- it will be valued at 25 billion when they convert

  Scooter: No

  Scooter: they need to to create immediate demand for IQD

  Scooter: they need to de dollarize their economy and fast

 

  Interviewer: right

  Interviewer: that's their stated goal

 

  Scooter: Their goal will be to make the IQD the standard throughout the country

  Scooter: and make it attractive to do business inside the country and to investors inside and outside the country.

 

  Interviewer: okay, so you're saying the IQD will be sucked into the CBI upon the RV?

 

  Scooter: I think they are already reducing the 1000 series notes as we speak

  Scooter: but we won't have the details of their banking circulation for the year

  Scooter: until the third week of January

  Scooter: maybe fourth week

  Scooter: that's when some good juicy details about the exact make up the the circulation comes out

  Scooter: it will tell us how many 25k notes are in the private banks, government banks, and individuals hands

  Scooter: all the notes and coins

  Scooter: but they only provide that report once a year

  Scooter: So they will suck those notes in and deploy the CPI immediately

  Scooter: remember, they have already deploy almost 2 million of those smart cards

 

  Interviewer: CPI?

 

  Scooter: those cards are like having 15 wallets or files on you

  Scooter: Consumer Price Index

  Scooter: They modified it in March of 2010 to reflect the lower denoms

  Scooter: they just haven't deployed it yet

 

  Interviewer: ok

 

  Scooter: also, those Iraqi citizens will immediately need to open their first checking account

  Scooter: if they haven't already

  Scooter: they'll deploy the lower denoms and coins immediately

  Scooter: and suck in those larger notes

  Scooter: I don't think they'll be able to do this all at once

  Scooter: it's virtually impossible to do this in a short period of time

  Scooter: As a result, they will be encouraged in some way shape or form to convert that CASH into electronic form

  Scooter: Just my opinion

 

  Interviewer: okay

 

  Scooter: one other item

  Scooter: they need to develop their Government Bond and Commercial Bond market space

  Scooter: That is very very critical

 

  Interviewer: Yes, Enoch made reference to that

 

  Scooter: Yes, the government needs liquidity and that's what these bonds can provide

  Scooter: Those bonds will help pay for these critical projects over the long run

  Scooter: It appears they are leaning toward the Japanese model

  Scooter: but

  Scooter: that's another discussion

 

  Interviewer: How does your view now differ from your original time frame and expectation of $.35?

 

  Scooter: Good question!!!,

  Scooter: when I first made my estimates,

  Scooter: I hadn't reviewed the 1000's pages of documents from multiple organizations

  Scooter: So my opinion has changed quite bit since that time.

  Scooter: Now, with that said

  Scooter: let me make the disclaimer

  Scooter: anything, and I mean anything, can occur in this investment

  Scooter: that includes nothing happening at all.

  Scooter: but when the founders of the plan developed the details, they had several strategic goals in mind

  Scooter: one

  Scooter: Significantly improve the lifestyle of every Iraqi citizen

  Scooter: move them from earning $2.00 a day per family  to

  Scooter: something significantly better with a currency that had a strong purchasing power

  Scooter: With that goal achieved, the citizens of Iraq, in theory, would be drawn to more market driven activities

  Scooter: We knew they had all the resources

  Scooter: but politics, the enemy, and several mistakes made throughout has slowed the process down considerably

  Scooter: second,

  Scooter: Iraq needed to be the poster child for western democracy throughout the middle east

  Scooter: as a result,

  Scooter: this RV was built around several financial Tranches

  Scooter: some of those haven't occurred but are waiting for the right moment

  Scooter: The idea was to plant several economic explosions in locations that will take off in their economy, invigorating the private sector and foreign investment

  Scooter: For example, agriculture

  Scooter: that was one of the targets

  Scooter: At one time, Agriculture was a far bigger contributor to their GDP than oil

  Scooter: it was close to 37%

  Scooter: Nevertheless,

  Scooter: this had an impact on my opinion as to the price point to open.

  Scooter: Saleh has said the real value of the IQD is around $1.30

  Scooter: the 2009 budget, as evidenced by the Tables of increases from their budget, came in at $1.17

  Scooter: 2010 -- $2.05

  Scooter: 2011 -- $1.27

  Scooter: Now that combines both the operational budgets and Investment budgets.

  Scooter: So to answer your question my friend

  Scooter: $0.35 ?

  Scooter: NO

  Scooter: I don't think so -- I think there's another plan that hasn't been seen or discussed in the forums

  Scooter: and they will be paying for this RV in some other way

  Scooter: Just my opinion

 

  Interviewer: ok

  Interviewer: and the time frame is .... whenever?

 

  Scooter: Haaaah!!!

  Scooter: Who knows

  Scooter: I can show you documents from the IMF

  Scooter: that indicated the structural changes were to occur at the same time as the parliamentary elections of 2010

  Scooter: Nobody knows -- but they are behind scheduled -- that is for certain.

  Scooter: it could be June 2013

  Scooter: when the Iraqi Banking reforms are scheduled for conclusion

  Scooter: nobody knows

  Scooter: but remember, the banking industry and governments are the BEST at misdirection

  Scooter: they will have you look to left and sneak through the back door and steal the cookie jar.

 

  Interviewer: Okay, one last question

 

  Scooter: I have one more in me

 

  Interviewer: What is your advice for dinar speculators and potential investors?

 

  Scooter: Haaaah!

  Scooter: I can't provide any advice as I'm not a  licensed financial planner

  Scooter: however,

  Scooter: I will say this again --- there's far too much INTEL out there being provided, with the majority being incorrect

  Scooter: However, this is a great opportunity !!!!!

  Scooter: I won't deny that but I still treat this as something riskier than a penny stock

  Scooter: because it is.

  Scooter: and nobody knows what's going to happen for the exception of about 3 - 5 people

  Scooter: in the world.

  Scooter: but the good news is that there's strong tangible evidence that suggest the RV will occur.,

  Scooter: Logic dictates that it's required sooner rather than later

  Scooter: That's it

 

  Interviewer: Anything else you'd like to add?

 

  Scooter: I don't think so --- I think I've bantered about for the last hour and a half

  Scooter: lol

  Scooter: lol

  Scooter: I'm good!

 

  Interviewer: Okay, thanks for your time and all of your research

 

  Scooter: I just hope this was helpful !

  Scooter: You are so welcome 

 

FROM BONDLADY'S SITE

 

 

THIS WAS BUMPED ABOUT TWO DAYS AGO (AT BL'S SITE)

 

BondLady Chat with Scooter, Shredd and tlm724 4/25/2013 - Fri Apr 26, 2013 6:58 am

tlm724

 

[bondLady] Welcome everyone! I would like to let all our new members know we now feature a 24 hour news forum. We have special threads set up with our special administrators player46 and oogie and bubbies with the afternoon and evening news thread as most know I bring the morning news in any where from 2 am on thru the late morning along with all our other posters and ms timmys coffee shop opens as she runs the news every morning at 6:30 cst am here in our chat room . Wake up and have coffee and news with us

[bondLady] I'd like to welcome all our first timers here to BLC , we hope it won't be your last unless it rv's then see ya lol ,just kidding of course. We have put together an exciting chat for everyone. Shredd and Scooter, two very brilliant men will share their knowledge with us first. Welcome Scooter and thank you for being here 

 

 

[scoooter] thank you BondLady !

 

 

[scoooter] so I reviewed some of the IMF data and it mostly sounds like it's aligned with how it's supposed to be . One of the big concerns as well as one or two more relate to the oil sector of their economy and the underutilization of the existing workforce. See Iiraq's workforce has a tremendous demographic for example when comparing to China , China's populace is retiring and that means their consumption power is going downward not upward. India and Iraq on the other hand have upward moving populaces whereby the majority of their populace are in the prime working age. Now why is that so important ? Because we want the middle class to develop and grow and grow and grow. That's why it's discerning to find that 90% of their revenues is coming from oil, remember, this is a country where agriculture used to be the largest part of their GDP. With that said -- when you see they haven't diversified as quickly as they should have it's concerning particulalry when we know that the oil business is being worked from the foreign companies .

 

 

[shredd] Agriculture is 8.7% now

 

 

[scoooter] Their revenues continue to climb and that's good their investment budget continues to roll between 40% 45% which is stout and hefty but I'm wondering why we haven't seen the impact of that investment. Now with that said -- their monetary base continues to expand .Their Net foreign assets of the CBI is between 65 - 70 Trillion IQD

 

 

and that doesn't include the numbers sitting in the NY FED there's several accounts that haven't been disclosed which should, in theory, drop right into their reserves

 

 

we hope so --- I look at the economic conditions and the word sustainablity and capacity those words become even more important and the reason that is well, because even if they were to RV anything they have to ask several questions will it or can it be sustained and do we have the capacity to support that value. now in terms of the federal banks those banks should have been DEVALUED 5 years ago

 

 

[bondLady] AMEN

 

 

[scoooter] the assets on those books are way overvalued . Why is this important well -- you're not going to see anything happen to the DINAR until those banks have complete transparency and their balance sheets accurate, there won't be trust from the international investor otherwise... just my two cents so -- that brings us to now ---- and the talk of recalibrating those two banks , it's a good thing I'm just stunned the international community hasn't demanded it sooner so , they appear to be at the same spot as before but the statements from the CBI are getting stronger for this move.

 

 

[bondLady] Yasiri: restructure the Rafidain and Rasheed includes four axes .. And will support the banking sector 20-04-2013 01:14 PM Baghdad (news) .. According to a member of the Finance Committee MP / National Alliance / Abdul Hussain al-Yasiri, that the plan to restructure the Rafidain and Rasheed by the International Monetary Fund includes four paragraphs of major help to support and develop the banking sector in the country. Yasiri said (of the Agency news ): The plan to restructure banks government Rafidain and Rasheed developed since (2007) and formed through a committee headed by the central bank governor and finance minister and head of the BSA, in cooperation with the International Monetary Fund. added: that the committee began its work, but did not achieve positive results and important in then, but later formed a committee composed of general managers in banks and representatives of the Central Bank and the International Monetary Fund and began their movement in earnest for the support and development of the banking sector in the country. explained: that the plan includes four axes including restructuring operating banks and strategic restructuring and re-evaluation of assets from cash to banks , as well as re-accounts banks and audited by the external auditor. , and pointed out that the government banks lack the modern technology in spite of the introduction of some technological Kalptaqh Smart and others, but it needs to 

techniques more to keep pace with the evolution in global banks. / End / 8.'s. 

 


 

 

[shredd] Scoooter can I throw a question at you?

 

 

[scoooter] Yes

[scoooter] the external auditor will be key

 

 

[shredd] regarding the above article that you are speaking about, this re-evaluation of assets

 

 

[scoooter] because it won't be accepted until PWC is satisfied the IMF won't be satisfied unless that report is positive and they have accuracy

[scoooter] Yes that revaluation or devaluation it will be devalued ,it has too

 

 

[shredd] right, I get that part....so the revaluation of assets.....refers to capital backing of these banks, right?

 

 

[scoooter] the assets are overvalued significantly

[scoooter] Yes the assets backing the banks , correct

 

 

[shredd] ok, and this work seems to be nearing completion

 

 

[scoooter] that's my understanding at least. yes, but it's been there since 2007 -- and they have those little itty bitty items to complete it's the details that keeeeeel ya

 

 

[shredd] right, so with the economic picture in iraq, how do you see this coming to close since they are gov't banks? re: timing

 

 

[scoooter] what will happen is a complete reboot of their banks those two banks do approx. 80% of the banking in that country and the reality is they don't have enough banks to sustain the populace right now nor do they have the capacity so the thought was to bring the international community and their banks in that's a great idea and I think that would be good but where do they find the qualified workers to work the banks ? So imagine you're in a economy which is about to explode, the pressure is building and building and then booooooom the "then what" question pops ! what do I do now -- if they don't have enough banks to support the populace --- how can they get the massive transactional type system to stir the economy ? See, what Iraq has the ability to do is stir several volcanic economic eruptions. oh yes volcanoes

 

 

[shredd] good ones

 

 

[scoooter] now, the previous plan was too have several economic eruptions in several key vertical markets one being Agriculture, public sector construction, etc...they have plans already to build those million homes and with the construction multiplier you'll get three times the play on the Dinar thus calling them economic eruptions. I really need to coin that phrase lol. Shredd -- there's a brain dump my friend

 

 

[shredd] Scooter, you are right, the economic stimulus ripples will roll fast

 

 

[scoooter] they will --- indeed. it's like demolition putting the right explosives int he right spot to demolish the building in this case. It's building and nurturing long term sustainable growth

 

 

[shredd] exactly. I hear your point on the banking structure but I believe it is there, plus, banking capabilities outside of the state and govt banks will support

 

 

the secondary market for example

 

 

[scoooter] So they need to diversify that economy and this will draw more to the capital markets I mean rightj now Iraq's capital markets are running at 5% of their GDP while Jordan on the other hand it's close to 200% of their GDP

 

 

[shredd] agreed . yes and we've already seen that starting....a new large fund just went to market

 

 

[scoooter] and that's sustanable .Shredd exactly but what's even more important is the establishment of the bond market that bond market will help the government be liquid

 

 

[shredd] oh yes it will

 

 

[scoooter] and that's kinda sorta important

 

 

[shredd] indeed... ie sovereign bonds

 

 

[scoooter] Yes --- the primary bond market will be consumed by the internal companies like insurance companies and utility companies and they'll probably be offered at a nice fat rate too I mean % . yes

 

[shredd] yes and secondary will be financial products

 

 

 

[scoooter] and again, they'll realize the multiplier and it's effects will be felt throughout their economy

 

 

 

[shredd] Hello everyone and thank you very much for joining us. I want to thank Bondlady, Miss Timmy and Scooter for their valuable input.

 

 

 

[shredd] I wanted to touch on a few things with the hope that it will be to the benefit of our valuable members. First of all, in my “report card” post from yesterday, I quoted the below line from an article  and in it was this quote: [shredd] The Iraqi economy saw one of the fastest growth rates globally in 2012. It grew by 10.5% to just over USD 100 billion and is set to grow by more than 11% in 2013. Beyond that, Iraq is expected to continue to record growth averaging 9% in the years to 2017. The Government’s fiscal surplus will likely average some 4% of GDP, in spite of heavy spending in public capital projects and the oil and gas infrastructure.

 

 

 

 

[shredd] What I really like about this is the projection that Iraq is expected to boast a fiscal surplus averaging 4% of their GDP. What many people overlook is the spending that Iraq is doing. Yes, they are growing reserves and yes, they are pumping more and more oil out and yes, investment is growing, but guess what………it takes money to fully overhaul a country and the bills are stacked high.

 

 

 

 

[scoooter] yes That's exceptional growth and on top of that they've curbed inflation at a controllable rate

 

 

 

[shredd] yes

 

 

 

[scoooter] and they did this -- from a lot of learning but they did this with using the auctions as a primary tool to control inflation i think that's pretty cool actually

 

 

[shredd] yes and I will bring that up in just a bit....

 

 

[scoooter] what's also important to note is the residual funds -- the 4% remember

 

 

[shredd] yup. takin the words right out of my mouth

 

 

[scoooter] Iraq's budgets for the past 4 - 5 years have had two sets of books they've had a proposed and then another one called approved the delta in those two allowed for the parliament to have two sets of working books one allocated at one rate and the other still using the nominal rate of exchange. now the question comes to mind What and where and how are they going to use those excess funds the residuals ? Because think about it if the budget called for oil at 65 but the true actual price was 85 per barrel that's a whole lot of excess funds. Where did they go and how were they spent ? so it will be interesting to see the next PWC Audit or the BSA audit for the prior years

 

 

[shredd] This is a real promising projection and with all of the growth taking place in Iraq, it makes sense. This stability from the financial perspective is key in the investment of capital-raising sovereign debt opportunities. We saw in the report card that Iraq’s non-oil sector is 36.2% which is not too shabby in my opinion.

 

 

[scoooter] WOW thats stellar compared to where they were

 

 

[shredd] I knew you'd like that. that's as of Feb this year

 

 

[scoooter] I do indeed SWEEET that's killer, now their in striking distance of the diversification they need

 

 

[shredd] So where the heck is the RV? We’ve heard from some that say until stability in the government is achieved or until the conflict between the CBI and the government is resolved, we won’t see an increase in the Dinar’s exchange rate. Well, let’s define the issue shall we? Three factors really are at play regarding the conflict between the government and the CBI during the last three years: 1. Independence of the CBI per the Constitution (and Central Bank Law) 2. The position of both Shabbs and Turki to not lend to the government 3. Growing size of international reserves

 

 

[bondLady] unfrozen funds from all over the world

 

 

[shredd] yes

 

 

[scoooter] correct

 

 

[shredd] Others have been focusing on the auctions as an indicator for where the elusive RV is. To clarify, the purpose of the auctions is to manage the exchange rate by controlling the supply.

 

 

[shredd] Scooter, I'd like your thoughts on this part:

 

 

[shredd] Some of you may not know this but when the auctions take place, two types of transactions take place; International transfers and cash payments. International transfers, which make the majority of transactions, are intended mainly to finance imports by the private sector. Cash sales serve to meet other financial needs such as payments for travel, medical expenses, etc. That all said, fluctuations in the sales on the auction floor are simply targeted transactions to manage the exchange rate differences between the street and the official rate. Don’t believe the hype that the auction results can tell us the RV is close. The only exception is once the Dinar is on a market-driven free float, the auctions will cease but by then, we will all know already that the Dinar revalued!

 

 

[shredd] thoughts on that part Scooter?

 

 

[scoooter] ok just absorbing a little bit. First the transactional based system in play.The iraqi's and the central bank have completely revamped those systems they are state of the art and will allow for full mobile technology to be deployed there's a reason for this but will hold off for right now. now these systems were there for several reasons but the population itself --- there were huge trends occuring and occuring quickly , one the Smart Card type of scenario it was modified to support those types of electronic transactions before the Iraqi's were primarilly a hard currency economy. So the new system was built for the Smart Card. The company that developed this stuff is out of South Africa and have a dynamite product . not only for the smart card -- supports medical, insurance, banking etc....but also handle the mobile technology what occurred with Iraq became liberated is the young population adopted cellular technology like crazy!!! With the adoption that occurred -- the banking systems needed to adapt to this now, with that said back to your question

 

 

 

 

[scoooter] the auctions results and the free float and the value when more transactions take place whether they stem from mobile, or a smart card, or cash the adoption of those will stir usage by the populace to actually set up bank accounts. why is that important ? think about a young couple trying to purchase thier first house they start establishing credit and they do this more efficiently with smart cards and mobile techinology the more transactions they make the better and money just mulitplys throughout the economy. What was the question again? hmmmmmm but remember this is a cash society right now and they need to get people educated and they need to get the swirl of economic explosions occuring and they help facilitate this by providing tools to accomplish this goal

 

 

[DogzNova] will the auctions show the RV

 

 

[bondLady] the auctions don't show the true worth of the dinar so I doubt it

 

 

[scoooter] No they help in Supply and faciltate control over inflation

 

 

[shredd] right

 

 

[shredd] I'd like to move into the free market economy topic

 

 

[shredd] Lastly, I wanted to remind everyone about the goal in front of Iraq of ascending to the WTO. Like I had stated in an earlier chat that I refreshed today , Iraq must get to what is called a “free market economy”. A free market economy is a local economy where supply and demand calls the shots. The greater reality is the intervention by the government is rare. In a free market economy, exchange rates are not pegged (or managed) by the government but rather fluctuate based on the demand of the currency and especially in Iraq's case, the supply of the currency.

 

 

[shredd] Scoooter thoughts?

 

 

[scoooter] correct --- ummmm --- they desparately need to get the government out of the way and let natural forces come into play however, here's another reason for diversification. The government is spending and receiving 90% of its money from oil now -- how does that impact the local economy when all the oil jobs are farmed out to foreign workers.Tthe money isn't staying in the local economy and so what happens to supply and demand ? if the demand isn't there, supply will follow . So to relate this to the IQD you can follow the money trail and determine yourself my hope is that this will change and change quickly . ok -- does that make sense regarding supply and demand on the currency ?

 

 

[campdav] How could Kuwait have the most expensive currency in the world and what is their economy outside of Oil?

[scoooter] KU has several items that don't get discussed often enough, one is that KU population , it's small and they are educated and the money gets multiplied within thier country

 

 

[campdav] 3 Million. yep 1/10 Iraq

 

 

[scoooter] the other item they use a different equation to value their currency

 

 

[campdav] Each KU $80,000 per year citizen

 

 

[scoooter] the other GCC countries are looking to adopt this equation they moved from the peg to the dollor moved away to a more free market approach there's several other reasons for KU's delta but we'll get to that over time

 

 

[bondLady] I have a couple of things to add per what shredd and scooter were talking about too. This was something I pulled from our archives here at BLC. Just to make you aware, sometimes to see the future or present situation you must look back in history or the past.

 

The Iraqi dinar has all reasons to grow stronger,' says Prime Minister Source: BI-ME with Aswat al-Iraq , Author: Posted by BI-ME staff Posted: Fri March 5, 2010 7:01 pm IRAQ. Iraqi Prime Minister Nouri al-Maliki said earlier this week that the process to re-evaluate the Iraqi dinar has to do with economic conditions which have to be strengthened, reported news agency Aswat al-Iraq. "The Iraqi dinar has all the reasons to grow stronger thanks to an increase in revenues and development of the economy," Maliki said in response to some questions through the National Information Center. "The government would not rush matters but would rather work on finding all the guarantees to render this measure a success. The Central Bank of Iraq (CBI) is currently entrusted with drawing up a study on the whole issue and would give its decision soon," said the Iraqi premier.

 

[bondLady] The Iraqi dinar's exchange rate is suffering from low value against foreign currencies as a result of decades of wars and economic embargo that brought the local currency's exchange rate to the rock bottom from three dinars per dollar in the late 1970s and 1980s to 3,000 dinars per dollar after the 1990 invasion of Kuwait, followed by a 13-year crippling sanctions regime.

 

 

[bondLady] please take note of the date 3/5/10

 

 

[bondLady] The exchange rate fell even more after 2003 to reach 1170 dinars per dollar due to the CBICBI's policy of daily auction, in effect for more than five years now. The policy was lambasted by several economists on the grounds that these auctions do not give the real value of the country's local currency.

 

 

[bondLady] The policy was lambasted by several economists on the grounds that these auctions do not give the real value of the country's local currency.

 

 


 

 

 

[bondLady] Like I said I brought these out of the archive crypts to show you the future plan here

 

[tlm724] outstanding !

 

 

[campdav] BondLady Great points!!!!!!!!!!!!

 

 

[scoooter] Exceptional points!

 

 

[bondLady] and we're seeing so many things from 2 to 5 years ago finally coming to pass. I have a few more things to offer as well... shredd you or scooter have any coments per that article before i proceed ?

 

 

[scoooter] Nope -- I think Maliki's comments are dead on

 

 

[bondLady] Let me grab the next thing. Speaking of Maliki these words are his as well...

 

 

PM: Iraqi dinar re-evaluation has to do with economic conditions Text size 28 February 2010 Iraqi Prime Minister Nouri al-Maliki said on Sunday that the process to re-evaluate the Iraqi dinar has to do with economic conditions that have to be strengthened. "The Iraqi dinar has all the reasons to grow stronger thanks to an increase in revenues and development of the economy," Maliki said in response to some questions through the National Information Center. "The government would not rush matters but would rather work on finding all the guarantees to render this measure a success. The Central Bank of Iraq (CBI)Central Bank of Iraq (CBI) is currently entrusted with drawing up a study on the whole issue and would give its decision soon," said the Iraqi premier. The IQD is in the forex market (un- marketable) It obviously will not... by Mark Duncan More Comments by the Community The Iraqi dinar's exchange rate is suffering from low value against foreign currencies as a result of decades of wars and economic embargo that brought the local currency's exchange rate to the rock bottom from three dinars per dollar in the late 1970s and 1980s to 3,000 dinars per dollar after the 1990 invasion of Kuwait, followed by a 13-year crippling sanctions regime. The exchange rate fell even more after 2003 to reach 1170 dinars per dollar due to the CBICBI's policy of daily auction, in effect for more than five years now. The policy was lambasted by several economists on the grounds that these auctions do not give the real value of the country's local currency http://www.zawya.com/story/ZAWYA20100301063801/

 

 

[bondLady] thats from 2/28/10

 

 

[scoooter] yep -- their whole middle class that was formed from the 50's to the 70's was completely demolished -- there was no consumption occurring in their economy --

hence the reason he's referring to economic conditions have to be strengthened

 

 

[shredd] Scoooter yes but a hard number to define (strengthened economic conditions)

 

 

[bondLady] I have another blast from the past for both Scooter and Shredd to look at it and comment about how it works in with the current news going on

 

Our aim is to establish a forward market in Iraqi dinars in the near future,’ say finance officials Iraq plans to establish an interbank foreign exchange market and dinar forward market and to step up its treasury bill activity in 2010 to help plug continuing budget deficits and foster treasury and foreign exchange markets, the Central Bank and Finance Ministry said in a submission to the IMF. Iraq aims to develop foreign exchange markets outside the framework of dollar auctions currently conducted by the Central Bank, a letter of intent submitted to the IMF for a US$3.6 billion standby arrangement said. Iraq said it would not return to a budget surplus until 2012. “As our financing needs in 2010 will still be substantial, we will step up our efforts to mobilize domestic financing through the Treasury bill market,” Iraq’s Central Bank head and finance minister wrote. “To that end, we will conduct regular auctions, and refrain from cancellations, while allowing interest rates to be determined by the market. This will have additional benefits by determining a benchmark interest rate, while the development of a secondary market for treasury bills will allow banks to improve their liquidity management.” “They are going to shift to building a local market, they have ample cash, loan-deposit ratios are very low and they will benefit from oil,”Turker Hamzaoglu, emerging market economist at BoA-Merrill Lynch, told Reuters

They have to develop a domestic bond market but it’s still baby steps, it’s still too early, it’s not even a frontier market,” he said, adding that Gulf Arab and Lebanese investors could be interested in Iraqi domestic paper. Central Bank Governor Sinan al-Shibibi and Finance Minister Bayan Jabor said in the letter to the IMF that the country planned to introduce a sales tax, as a precursor to a Value Added Tax, “in the coming years”. Iraq’s gross domestic product expanded by 4% in 2009 compared with almost 10% the year before, their submission reported. GDP growth would rise to almost 7% this year and 7.5%-8% in 2011 and 2012, they said. That improvement would be rooted in an increase in Iraqi oil output to 3.1 million barrels per day by 2012, from around 2.5 million bpd now, and exports of 2.5 million bpd, compared to just over 2 million bpd now. That outlook might be conservative following the signing of 10 multibillion-dollar deals with global oil firms to develop Iraq’s vast reserves. If all the deals work out, Iraqi oil capacity could soar to 12 million bpd in six to seven years. “The CBI will continue to be independent in the pursuit of its policy objectives. The CBI’s monetary and exchange rate policies will continue to be aimed at keeping inflation under control and safeguarding international reserves,” the submission said The banking sector is in urgent need of reform to foster financial intermediation and enable banks to contribute to the development of a strong private sector. With the help of the World Bank and other international agencies, Iraq has developed a banking sector reform strategy, it added.

 

 

 

[bondLady] Iraq is committed to strengthening the management of international reserves by moving ahead with the implementation of new reserves management guidelines that were adopted in early August 2008. Iraq will follow the guidelines to diversify currency composition and establish appropriate duration and credit risk, build capacity for risk analysis, and work towards establishing a dealing room”. The IMF submission said Iraq’s Central Bank planned to create a foreign exchange market outside the framework of regular dollar auctions now conducted by the bank. The bank uses the auctions to set the exchange rate, which has been held at 1,170 dinars per dollar for many months. “To improve the functioning of foreign exchange auctions, we plan to develop organized exchange markets outside the central bank, including an interbank foreign exchange market,” it said. “Our aim is to establish a forward market in Iraqi dinars in the near future.”

 

 


 

 

 

BondLady] comments? You both covered a lot of this already as to their progress, I just wanted to show shabbibi said these things we see happening now 2-3 and 5 years ago

 

 

[shredd] controlling inflation/managing exchange purpose of the auctions

 

 

[scoooter] What will be interesting is to see what happens when they hit the OPEC limit of 4 mbpd

 

 

[lightingcslt] Scoooter I beleive they there already

 

 

[scoooter] That will be interesting because of Saudi influence and Iran

 

 

[bondLady] They are right on the point for that too scooter

 

 

[scoooter] Really

 

 

[bondLady] 3.9+ yes

 

 

[scoooter] I just say something that said 3.8 hmm sorry

 

 

 

 

[bondLady] actually OPEC has given them an increase to export

 

 

[shredd] yes they will be close by end of year

 

 

[scoooter] really hmmmm-- that I didn't know -- I wonder where that oil will be refined ?

[bondLady] they are in process of building there own refineries as well, huge ones, also they are piping it to near by countries to refine as well

 

 

[bondLady] I'id like to move the topic to the remove the 000 from the dinar please and I have 2 last things per that and then ms timmy will setttle the guru arguement about Presidentual Executive Order 13303

 

 

[bondLady] Central Bank plans to raise zeros from the Iraqi currency 2010-02-07 15:06 Economic - of the Iraqi Central Bank plans these days on the implementation of the strategy to delete the zeros of the Iraqi currency and small face value and keep the cash value and purchasing power without causing any economic Atrapat may occur over this strategy. The Economic Adviser in the Central Bank of the appearance of Mohammed Saleh in a statement that the current year will witness the launch of this strategy, the Bank completed 50% of the preparations that are working on since 2005 .. Saleh pointed out that the strategy based on the principle of gradual substitution of the Iraqi currency with another is lower than in the nominal value, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade. http://www.aljewar.org/news-21704.aspx

[bondLady] note the date....2/7/10

 

 

[bondLady] They were ready 3 years ago but the people freaked so shabibi said I'll delay it until next year 2011 and again the people freaked ,scared of failure and Iraq has one shot to get this right ! The future of Iraq depends on that so I've noticed with Iraq everything with them takes 2 years! Unless they freak then they delay which is what they have done since close to 2005

 

 

Central Bank: It is time to re-evaluate the currency, commensurate with the price changes and the wage in the economy الثلاثاء 19 نيسان 2011 15:58 GMT Tuesday, 19 نيسان 2011 15:58 GMT .. May not remain there is a need to act for this counter so quickly if applied to the central bank project by deleting three zeros from the Iraqi currency .. . Bank, which sets monetary policy for the country confirms that it is time to re-evaluate the currency to suit the changes in the wage-price and economy. appearance of Mohammed Saleh / adviser to the CBI: Iraq after five years on the verge of producing a large oil 6 million to 12 million barrels of Iraqi oil would be a regional power in the management of energy in the world and will be the proceeds of a large system and the current cash management system currency in this way is a product of phase lag like it or not needed reform the management of currency after five years claimed the block becomes large cash) Shops, banking companies were not enthusiastic about the project, which says that its application may cause economic problems or technical unnecessary at the present time. Shop owner Banking (Mo is the time because if Mistqr country's economy and stabilize exchange rates, buying and selling of the dollar Menkdr use the lifting of the zeroes)

 

 

Shop owner Banking This thing we Menkdr TOGETHER we identify the issue depends on the application may show problems then the possibility of fractures disparity of individual things and things hobby art) As for the citizens, the deletion of zeros memory bring them back to the days of the power of the Iraqi dinar which is welcomed by some, while others appeared unconvinced by the possibility of its application Citizen (God, Kalash Aoki suggested raising of the Iraqi economy and brings us back the dinar money days before the God who commissions Tasirlh value and purchasing power and the States they are) Citizen (Is the same thing if the lifting of the zeroes is the dinar Maltna and even abroad Mahd originally received by) Citizen (For the lifting of the zeroes FD Shi logical because the allowance Maiasir trillion words become even billions of people Fhm) As for the economists Vitmonon The theme of the deletion of zeros will not make a difference in handling cash or in any way affect the Iraqi economy unless they take into account the changing value of exchange in relation to the dollar Ali gnathion NA / Economist: ( (This is an administrative process involving the central bank itself in the management of currency and the economy will remain only if the change rate of the Iraqi dinar for example, now is a dollar in 1180 JD permissible if Swoh means three whistle 118 or you will be 1.0 that Alukt if it has become one break zero dinar to the dollar means to improve the purchasing power of the dinar)

 

 

[bondLady] And show the Iraqi Central Bank reservation of criticism and reactions that have been raised about the project to delete the zeros from the currency, noting that his project is based on a thorough study to serve the Iraqi economy will be the case ended, the Council of Ministers and House of Representatives.

 

 


 

 

[bondLady] comments?

 

 

[scoooter] yea -- that's the hybrid type of model that would work introduce the new while market forces drive the value up because it will take them time to get and retrieve the larger notes they suck in all the big notes use them for interbanking facilities and transactions then send the smaller notes out to the populace

 

 

[bondLady] taking note that this article is 2 years old March

 

 

[scoooter] and it will be inevitable the value will be driven forward . yep -- I agree with what their saying there it makes complete sense

 

 

[bondLady] they also just today posted a article about destroying the 000 notes as they bring them in as well

 

 

[scoooter] there will be a lot of "soiling of notes" taking place, they will burn a lot of those notes and replace the liability with electronic funds

[bondLady] lastly for me is the DFI fund set to expire from what transpired in 2011 per the DFI and debt owed and creditors and law suits. Here we are again 2 years later and its set to expire again on May 22, 2013

 

 

[bondLady] this is a heads up basically, a look through the past to see what to expect here shortly and whats been done to date

Central Bank: Iraq Will Use the IMF to End the File of Commercial Debt 06/04/2011 11:48 Baghdad, April 6 (Rn) – The Central Bank of Iraq adviser said Wednesday that Iraq will use the IMF to end the file of commercial debt after the end of the Trusteeship internationalism on Iraqi funds in June next year. He said the appearance of Mohammed Saleh told the Kurdish news agency (Kaniwz) that “the Central Bank of Iraq will use the advice and the opinion of the International Monetary Fund and World Bank to end the file of commercial debt which is supposed to be resolved by Iraq through a clear plan.” He continued that “the Committee set up by Iraq to develop a legal study to prevent any danger to his money, and established a mechanism for coordination between them and the International Monetary Fund to prevent any violation of these funds and in accordance with the Paris Club agreement

[bondLady] The Paris Club is an informal group of financiers from 19 countries of the world’s richest countries, notably the United States, Britain, Australia, Italy, Japan, the Netherlands, Germany, Ireland, provides service to cancel debt for debtor and creditor countries. The IMF had identified the names of those States, after alternative solutions have failed, with the change of methods of payment of outstanding debt. Mohammed indicated that “Iraq will continue to grant debt to commercial companies and businessmen who claim they are asking Iraq according to international action in the payment.” On 6 March last, the central bank that Iraq follow the high political level in the debt economy, it did not face legal problems, as announced on 23 February that Iraq paid the debt 3500 credit commercial value of $ 2.7 billion as a means to protect his money, foreign manipulation of the trading companies.

It is hoped that Iraq shall submit to the UN Security Council a detailed report in May next looks for the most important pillars of the protection of Iraqi funds.

 

 

[bondLady] Revealed the Iraqi Finance Ministry on the seventh of January last, the work of the Committee to Protect Iraqi funds abroad will be secret, to avoid the fictitious companies which Iraq claims it requests funds. The Ministry of Finance of Iraq, the first of last January that “the Commission on technical government took over the development of mechanisms to protect Iraqi funds in foreign banks, after the UN Security Council resolution mid-November last, who spent lifting of protection for the money to Iraq the end of June next . The UN Security Council voted unanimously in mid-January last three resolutions concerning the lifting of the embargo imposed on Iraq on the import of nuclear material for peaceful purposes, and cancel the oil for food program, also extended the immunity of and for the last phase compensation imposed under Chapter VII until the end of June / June.

 

 

The former Iraqi president Saddam Hussein ordered the invasion of Kuwait in 1990, and the impact of sanctions imposed on Iraq from the international community and put under Chapter VII, which makes it a country threatening world peace and security. Included international sanctions prevented the import of chemicals, nuclear technology that could be used in a secret nuclear programs, chemical and biological weapons. Has allowed the United Nations in 1995 for Iraq to sell oil in return for food, called “oil-for lunch.” Allonan of Jafar, the Open: Wafaa Zangana

 

 


 

 

[bondLady] question.........does it affect us as investors one way or the other whether the DFI funds stay in protection mode with us or some other country or does it affect us if Iraq takes it back ? comments please

 

 

[scoooter] the U.S. courts alone will open up a can of "whoop-axx" in the amount of $100 Billion if they aren't protected, this one is a tough one -- not sure how they are going to handle it

 

 

[shredd] Scoooter what part?

 

 

[scoooter] Well -- first the paris club doesn't include many of the middle eastern countries in fact their debt to their neighboring countries is almost equivalent to the paris club members now they've been paying that down considerably but the amount owed to other countries would be staggering if they don't protect those funds. jmo now I've been out of the loop of information for some time but I can't imagine the rules of engagement have changed that much

 

 

[bondLady] they don't want creditors and law suits coming out of the woodwork to slap holds on it for sure

 

 

[scoooter] here's the other item to consider those funds were confiscated in 1990 at what rate were they confiscated at ?

 

 

[lightingcslt] 3.22 ?

 

 

[scoooter] nope

[shredd] Scoooter the Paris club in its design was brilliant and imo the consolidated plan for iraq's success contingent on their growth will fulfill its purpose

[scoooter] some of them may have been

[lightingcslt] true

 

 

[scoooter] Yep -- it consist of the credit worthy nations of the world and they forgave 80% of the debt but the neighboring countries pretty much said NO WAY! so they've been working on that debt -- nation by nation

 

 

[bondLady] it wasn't for lack of begging on Iraqs part

 

 

[scoooter] and they've done a great job on that

[campdav] Confiscated rate please?

[scoooter] it varied in price I saw some from england at 2.51, I saw Egypt at 3+ , I saw some derivatives at 3.22 but it's all over the map

[DogzNova] the IMF has the rate in 1990 SDR at April 30, 1990 2.46985

[scoooter] Saddam really really screwed his people on this

[scoooter] Thank you Nova! ok -- I need to run 

Edited by TBomb
  • Upvote 2
Link to comment
Share on other sites

BondLady and Scooter Chat 4/21/2013 - Sun Apr 21, 2013 7:29 pm

tlm724

 

 

[bondLady] Welcome back Scooter and thank you so much for dropping by ! Well in the news lately Iraq is doing what you said they always would and would have to restructure the Rafidain and Rasheed Banks... removing the 000 currency is right at the door too. We just appreciate any time that you have made for us and ty so much scooter

[scoooter] I see that but I saw an interesting statement by the IMF, just a second and I'll get it

 

[bondLady] there's so much going on now in the news

 

[scoooter] During 2012, the authorities succeeded in maintaining macroeconomic stability, but progress on the program slowed down. The combined third and fourth reviews were not completed owing to limited progress in restructuring the state-owned banks and the emergence of distortions in the foreign currency markets that led to the widening of the spread between the official and market exchange rates. IMF staff will continue to support Iraq through surveillance and technical assistance.

 

http://www.imf.org/external/np/country/notes/iraq.htm

 

 

[scoooter] There's a couple of sentences that stand out but could be interpreted a couple of ways. First, this is from the IMF site. Limited progress restructuring the the state owned banks distortions in foreign currency markets that led to widening of the spread .now that could be interpreted either way , got to give it to those writers they can make you stand on edge ....
[scoooter] There's another item that I didn't particularly care for either

 

 

[bondLady] Yasiri: restructure the Rafidain and Rasheed includes four axes .. And will support the banking sector 20-04-2013 01:14 PM Baghdad (news) .. According to a member of the Finance Committee MP / National Alliance / Abdul Hussain al-Yasiri, that the plan to restructure the Rafidain and Rasheed by the International Monetary Fund includes four paragraphs of major help to support and develop the banking sector in the country. Yasiri said (of the Agency news ): The plan to restructure banks government Rafidain and Rasheed developed since (2007) and formed through a committee headed by the central bank governor and finance minister and head of the BSA, in cooperation with the International Monetary Fund. added: that the committee began its work, but did not achieve positive results and important in then, but later formed a committee composed of general managers in banks and representatives of the Central Bank and the International Monetary Fund and began their movement in earnest for the support and development of the banking sector in the country. explained: that the plan includes four axes including restructuring operating banks and strategic restructuring and re-evaluation of assets from cash to banks , as well as re-accounts banks and audited by the external auditor. , and pointed out that the government banks lack the modern technology in spite of the introduction of some technological Kalptaqh Smart and others, but it needs to techniques more to keep pace with the evolution in global banks. / End / 8.'s. m /

 

 

http://www.ikhnews.com/index.php?page=article&id=82008

 

 

[scoooter] That's the part right there that I didn't like ... re-evaluation of assets from cash to banks . The IMFsite said it a bit differently which led me to believe they are still arguing over the value of those assets . If you remember those two banks would have to take a huge de-evaluation

 

 

[bondLady] right I remember when you told us all that

 

 

[scoooter] in their portfolios before they got recapitalized the parliament has passed the recap funding but they are still squabbling over the value -- my gut tells me there's some dirty funds and transactions from some high level folks over there that's holding that up...just my gut but heck it could be anything .overall though -- it's nice to see them gettting detailed statements

[bondLady] in this part of that article it said they tried it before with poor results so they began it again this time in earnest.....that the committee began its work, but did not achieve positive results and important in then, but later formed a committee composed of general managers in banks and representatives of the Central Bank and the International Monetary Fund and began their movement in earnest for the support and development of the banking sector in the country. explained: that the plan includes four axes including restructuring operating banks and strategic restructuring and re-evaluation of assets from cash to banks , as well as re-accounts banks and audited by the external auditor.

 

 

[scoooter] regarding the restructuring ooooo -- there's more. Yep that was 2011 - 2012 PWC or Ernst and Young were doing the Audits for the BSA and made some strong recommendations but it never was followed through. my hope is that they get it done because that's the root area that needs to occur before any acceleration to the value can occur IMO

 

 

[bondLady] I agree with you

 

[scoooter] once they establish that with full transparency to the rest of the world -- the value will strengthen itself just from pure natural growth. However, IMO, sorry to be negative here but they need to develop the non-oil economy

 

[scoooter] But the economy is rolling at 9% that's phenomenal for those folks but it could evaporate in a second largely because oil prices could tank and they would have anything to support that budget what's happening with the residual funds ? anybody know

 

 

[bondLady] shredd does and he will be present for the Thursday chat

 

 

[scoooter] and then mentioned this years excesses

 

 

[scoooter] hmmmm -- I'll find that out before our next chat also

 

Economic center: the success of the project to delete the three zeroes depends on the stability of the exchange rate of the dinar against the dollar 21-04-2013 11:36 AM Baghdad (news) .. Said Prime Media Center Economic Dergham Mohammed Ali, that the success of the implementation of the project to delete the three zeroes from the national currency depends on the stability of the exchange rate of the dinar against the dollar and educate citizens and give them enough time to replace the currency. said Mohammed Ali (of the Agency news): The economic reality of the past year and the previous was fit better to receive the decision to delete the zeros of the capacity market to absorb its effects because of the high stability, which was dominated by the exchange rate of the dinar against the dollar at the time. continued: While the market has become more sensitive and broader change than it was a Mitrah question the reasons for the postponement of this decision, but The implementation is still possible in the event of education in a positive way and give long enough to bring a replacement span for two years as planned during which the currency traded zero and currency deleted zeros. said: that the central bank demands to confirm the unit value between the two currencies and start substitution out for the new currency and ادارجها within the trade and the rule of replacement controls strict and controlled high in order to prevent money laundering, and control strictly operations splurge of the coin ancient This allows the switch smoothly and safe. stressed: the need to focus the central bank on his tools to re-exchange rate of the dinar to the target levels, the successful implementation of the project.

 

 

http://www.ikhnews.com/index.php?page=article&id=82089

 

 

[scoooter] wow

 

[bondLady] there you go scooter man . Do you have shredds comments per that timmy please

 

[scoooter] Whoa that's an interesting tidbit

 

[bondLady] we have tons of those articles like that scooter

 

[tlm724] Shredds comment - "stressed: the need to focus the central bank on his tools to re-exchange rate of the dinar to the target levels, the successful implementation of the project." I like this part.....the success of implementing this project depends on "re-exchange rate of the dinar" to TARGET LEVELS. This is what we have been saying..........an incentive via an exchange rate to make this project a success.

 

 

[scoooter] that the central bank demands to confirm the unit value between the two currencies and start substitution out for the new currency and ادارجها within the trade and the rule of replacement controls strict and controlled high in order to prevent money laundering, and control strictly operations splurge of

[scoooter] confirm the unit value between the two currencies ,that's a very interesting statement . I'm not sure what to think about that one because they intend to have two separate values during this transition for the IQD. I can't imagine trading that on the FOREX Exotic exchanges

 

 

[bondLady] there in the news headlines everyday for at least a month now also all the banking laws,WTO, HCL, article 140. Everything is news per these things daily

 

 

[scoooter] really -- it has my attention -- it states they'll have two years in this scenario as well

 

[bondLady] to remove the 000 notes yes

 

[scoooter] I'll tell you what -- I need to research that one a bit further -- that just sounds well -- interesting .I mean -- I've always contended they would have a unique hybrid approach but to outwardly state that could be interpreted in several ways holding two values in an electronic exchange environment ,that's a tough one to fathom. Imagine being the central bank and you have thousands of transactions through your hubs daily how can you identify which value of currency you're trading for what country

 

[scoooter] sorry, I need a bit more time to make a comment on that maybe that's the plan --- heck when Russia did their redenomination that was a beast for everyone worldwide. Nevertheless, let me research that one and come back later this week like Thursday
[scoooter] I would like to look at that budget as well.

 

[bondLady] Parliamentary agreement - a government to increase coordination between the government and private banks Created on Saturday, April 20 / April 2013 08:06. | | بغداد/اور نيوز Parliamentary Finance Committee agreed with the Ministry of Finance and the Central Bank to increase the size of the coordination between the government and private banks in order to develop the country's banking system and lift bureaucratic obstacles in banking transactions. Committee member said Abdul-Hussein al-Yasiri "The Finance Committee agreed with the Ministry of Finance and the Central Bank of the need to lift the administrative and technical coordination and technical cooperation between government and private banks." He explained that the "deepening of the relationship between the government and private banks will strengthen the banking situation in Iraq and his dealings with different countries of the world," noting that "the Commission has informed the ministry of the need to strengthen the integration of private banks with weak heads the money." The CBI earlier, he plans to convert the banks to large financial institutions after obtaining the approval of the Government to amend the Law No. 94 of 2004 on the integration of small banks to large banks. The parliamentary Finance Committee said it has developed a plan with the Ministry of Finance to promote electronic communication between the government and global banks during the next phase. The Central Bank has identified 250 billion Iraqi dinars as a minimum for the establishment of private banks in the country as seen Economists believe that private banks do not have the tools necessary to promote monetary and economic reality in the country.

 

 

http://www.uragency.net/index.php/2012-03-11-16-31-52/2012-03-11-16-33-57/20079-2013-04-20-08-06-01

 

 

[scoooter] that one just further supports what I was saying earlier how they need to simplify the workings with banks worldwide electronically IMO just My opinion. it's going to be difficult to have two separate electronic rates and call that simplifying the system but I will check that out -- I might be wrong

[scoooter] unfortunately, I have to go -- family is calling me and walking through the door. I really enjoyed talking with you folks tongiht and bondlady why don't we plan on something Thursday

 

 

[bondLady] your great scooter thank you so much !
[tlm724] Scooter tyvm
[DogzNova] ty scooter
[scoooter] YW -- Thank you for listening
[bondLady] okay scooter and shredd and the rest of our team will hold a chat Thursday in here at 6 pm cst. Thank you all !

Discussed by researchers, academics and specialists in the economic and fiscal policy placed Iraqi raise zeros from the Iraqi currency at a seminar hosted by the specialized scientific studies of the Higher Institute of Finance and Accounting at the University of Baghdad, titled "Delete the zeros and its impact on the Iraqi dinar exchange rate."

 

He gave appearance of Dr. Mohammed Saleh, Deputy Governor of the Central Bank of Iraq lecture about monetary policy and the deletion of zeros, which he confirmed that this reform has a horizontal level. and the level of vertical, horizontal level is the deletion of three zeros that is to say a thousand dinars become one Dinar each, but to maintain the purchasing power, which concludes the citizens of large numbers, as well as rid the Central Bank of the larger figures also facilitate banking transactions, and assured the benefit of that new change will not affect the entry of citizens or their wealth or contractual obligations to them, but it will contribute to the cancel (dollarization) large sums in banking, as well as change the currency the currency of a new consensus technologies high in the printing of currency globally and printing of new categories lot of the Iraqi currency reduce the number of printed sheets now circulating in the market and aimed collectively to eliminate inflation, which controls the Iraqi market for decades and return to the issuing of coins Pfaúadtha that were in circulation in the past and the other is to facilitate transactions in purchasing everyday citizens.

 

 

What is ur opinion on this part...which he confirmed that this reform has a horizontal level and the level of vertical, horizontal level is the deletion of three zeros that is to say a thousand dinars become one Dinar each confirmed that this reform has a horizontal level and the level of vertical, horizontal level is the deletion of three zeros that is to say a thousand dinars become one Dinar each, but to maintain the purchasing power, which concludes the citizens of large numbers, as well as rid the Central Bank of the larger figures also facilitate banking transactions, and assured the benefit of that new change will not affect the entry of citizens or their wealth or contractual obligations to them, but it will contribute to the cancel (dollarization) large sums in banking? This mentions the horizontal, but not the vertical level... and also, will not affect the entry of citizens or their wealth or contractual obligations to them... do u think this may be meaning post rv?.. ty.. Funsize


luckyintx

 

Hello Scooter... Does this art tell u anymore about Iraq's status as it relates to ch 7 or anything more, such as their furtherance related to the rv/dv of the 2 gov banks, in other words, their progress? Ty.. luckyintx

 

BAGHDAD / JD / .. showed European countries and the Asian desire to invest in Iraq on the sidelines of the Bank for International Settlements, which was attended by Central Bank Governor Sinan Shabibi. The Iraqi Central Bank Governor Sinan Shabibi's / JD / The "Meeting of the BIS has seen several discussions and a file is present in Iraq's economic international discussions" .. He Shabibi "The States present at the meeting expressed a significant interest in the economic future of Iraq" .. Shabibi and that European and Asian countries have expressed their desire to send delegations to Iraq after the talks were held on the sidelines of adjustments. He said the central bank governor said the representatives of a number of countries told us that they want a stable Iraq as Secretary so we have areas of good investment ".. The Central Bank Governor Sinan Shabibi confirmed on Monday's / JD / was brought up at a meeting of reconciliation issues related to central banks and the Iraqi banks ".. The Governor of the Central Bank of Iraq in the meetings of International Settlements, which was launched today, Sunday, Guy Switzerland. The BIS is an international organization of central banks to "strengthen financial cooperation and the financial world and works as a bank for central banks," not accountable to any government, and the Bank of its work through sub-committees, and secretariats (Secretaries) to be hosted by, and through her meeting with the Annual General to all Members, and also result in banking services, but only to central banks, international organizations or the like, the bank's headquarters is located in Basel, Switzerland, was founded in accordance with the Hague Conventions of 1930. / Finished / Nazik Mohammed

 

http://dananernews.com/News_Details.php?ID=1085

 

 

[DDF] Scooter-EG thank you for that post

 

[scooter-EG] DDF -- You are very welcome!

 

[scooter-EG] I hope it's the real deal this year

 

[oogie] Scooter-EG that was what you were talking about last night...that link to the law library

 

http://translate.google.com/translate?langpair=auto%7Cen&u=http%3A%2F%2Fwww.iraq-lg-law.org%2F

 

[DDF] Scooter-EG now can you tell us about it

 

[scooter-EG] Typically they've been targeting the end of June for this stuff

 

[oogie] you musta stayed up all night Scooter-EG

 

[luckyintx] yesssssssssssssssss!

 

[scooter-EG] Mikey Mikey Mikey Mikey

[vested] Scooter-EG ...wait...Wednesday?

 

[scooter-EG] therealbubbie

 

[tlm724] Scooter-EG hello

[scooter-EG] oogie Yep

 

[scooter-EG] That's exactly what I was talking about

 

[DDF] vested we asked if he would stop in

 

[JohnnyZ] Scooter-EG so was the update on the banks june 25 to the law library
[oogie] nice find!

 

[JohnnyZ] june 15

 

[scooter-EG] those Council of Ministers Legal Docs

 

[luckyintx] Scooter-EG this looks sooooooo good!

 

[scooter-EG] luckyintx I hear ya -- I hope these banks are now ready to reboot

 

[luckyintx] Scooter-EG yes would b nice if it was already done!

 

[scooter-EG] Yea, but they like June 30 for some reason

 

[RickeyT] Scooter-EG are we in a more positive position for something to occur around Jult1?

 

[scooter-EG] not certain exactly why that is

 


[luckyintx] Scooter-EG I noticed that!!!!!!!!!!!!!

 

[oogie] Scooter-EG mid year
[scooter-EG] RickeyT --- I don't think so
[RickeyT] July
[scooter-EG] I think we are still looking later
[scooter-EG] but
[scooter-EG] this is a major structural benchmark for the Iraqis
[scooter-EG] HUGE
[scooter-EG] IMO
[scooter-EG] It's been on the list of things to complete sinced the 2006 MOU
[scooter-EG] Memo of Understanding
[scooter-EG] they had so many accounts out of control
[scooter-EG] it was terrible
[scooter-EG] Ernst and Young reported it was the worst case of a bank audit
[scooter-EG] they had ever seen
[scooter-EG] but
[scooter-EG] that was back in 2007
[scooter-EG] too much corruption
[scooter-EG] too many open accounts all over the world
[scooter-EG] but here's the thing
[scooter-EG] to remember
[scooter-EG] Imagine
[scooter-EG] if you take those two government banks
[scooter-EG] that do over 85% of all the countries transactions
[scooter-EG] and you now clean the books up
[scooter-EG] and Re-Value/Devalue their assets
[scooter-EG] they've essentially change the valuation of the whole country
[scooter-EG] and that to me
[scooter-EG] is a starting point
[scooter-EG] but I don't
[scooter-EG] I see them following their plan
[scooter-EG] and I see many changes in 2013
[scooter-EG] NP
[scooter-EG] that's it
[scooter-EG] I think it's good news
[scooter-EG] the part that I liked
[scooter-EG] also
[MNM] Scooter-EG Scooter-EG great news
[scooter-EG] was the line in discussed the new currency
[scooter-EG] it translated weird -- but it's very intriguing
[scooter-EG] to see the timing and release of this information from the council of ministers
[scooter-EG] Does everybody know that to get the full size view
[scooter-EG] to click the link before the big image
[scooter-EG] if not
[scooter-EG] it's definitely worth the time.
[luckyintx] Scooter-EG can I also ask ur opinion on another art?
[scooter-EG] sure lucky
[scooter-EG] ok
[luckyintx] BAGHDAD / Center Brief for the Iraqi Media Network - revealed the parliamentary finance committee that Iraq will see the two currencies traded at the same time over the next year 2013 of the new currency in circulation after deletion of zeros with the survival of the current currency trading throughout the year in question. A member of the Finance Committee Hassan Salman's (Center Brief for the Iraqi Media Network) that "the central bank operates in more than six months from now on the position of the deletion of zeros from the Iraqi currency and the current that will be applied starting from next year." He pointed out that "the Finance Committee informed and in constant contact with the central bank governor and his aides who constantly learn about the Finance Committee on the details of this issue and the process of replacing the current currency the new currency will continue over the next year." He said, "will end the current currency, the beginning of 2014 and this process will lead to the strengthening of the Iraqi currency fluctuations, especially after the Iraqi dinar exchange rate against the U.S. dollar in recent times." And that "currency adjustment will benefit the Iraqi economy and will facilitate the handling of cash in the country by reducing the money supply in circulation now, which Tkdrbhawwala 30 trillion dinars." He revealed the CBI earlier that the new Iraqi currency will increase by three zeros, indicating that he made an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency. http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.imn.iq

 

[luckyintx] Can u plz sum it up....?
[scooter-EG] WOW
[scooter-EG] that says it all
[luckyintx] good?
[scooter-EG] It's surprising however
[DogzNova] Scooter-EG it says too much if U ask me
[scooter-EG] that this article states that the currency will end 2014
[scooter-EG] I read another article that it would be available for another 10 years
[scooter-EG] but
[scooter-EG] it flows with what we've been discussing for the past month
[scooter-EG] they will deploy a HYBRID solution
[scooter-EG] they will introduce the lower notes
[scooter-EG] and methodically suck in the larger notes
[scooter-EG] while at the same time
[scooter-EG] increasing their CPI values of products and goods
[scooter-EG] the real question will be their economy and how well they diversify
[scooter-EG] and begin their primary bond market
[scooter-EG] those will determine the sustainabilty of any rate
[scooter-EG] just my two cents
[scooter-EG] that was a great article lucky
[Mikey] Scooter.. That article fits in with the article of around Nov 2011 that said the currency process would be completed within the biennium.
[scooter-EG] biennium
[Mikey] or the end of 2013
[scooter-EG] Yea
[scooter-EG] it does
[scooter-EG] it fits real nice with that time frame
[scooter-EG] also
[Mikey] or early 2014
[DogzNova] biennium means two years
[scooter-EG] if you remember the world bank reform program for Iraq concludes
[scooter-EG] in october of 2013
[scooter-EG] so I can see them start to introduce the new notes in 1st or 2nd quarter of 2013 and start the process
[scooter-EG] heck
[scooter-EG] it could be sooner than that if they have the printing presses rockin those notes out
[scooter-EG] DogzNova Thank you -- didn't know that one
[scooter-EG] too big of word for me
[DogzNova] me too.. I had to google it
[scooter-EG] well i hope that helped and thank you for your kind words

  • Upvote 1
Link to comment
Share on other sites

NEXT PART

 

 
 “As our financing needs in 2010 will still be substantial, we will step up our efforts to mobilize domestic financing through the Treasury bill market,” Iraq’s Central Bank head and finance minister wrote. 

“To that end, we will conduct regular auctions, and refrain from cancellations, while allowing interest rates to be determined by the market. This will have additional benefits by determining a benchmark interest rate, while the development of a secondary market for treasury bills will allow banks to improve their liquidity management.” 

“They are going to shift to building a local market, they have ample cash, loan-deposit ratios are very low and they will benefit from oil,”Turker Hamzaoglu, emerging market economist at BoA-Merrill Lynch, told Reuters

They have to develop a domestic bond market but it’s still baby steps, it’s still too early, it’s not even a frontier market,” he said, adding that Gulf Arab and Lebanese investors could be interested in Iraqi domestic paper. 

Central Bank Governor Sinan al-Shibibi and Finance Minister Bayan Jabor said in the letter to the IMF that the country planned to introduce a sales tax, as a precursor to a Value Added Tax, “in the coming years”. Iraq’s gross domestic product expanded by 4% in 2009 compared with almost 10% the year before, their submission reported. GDP growth would rise to almost 7% this year and 7.5%-8% in 2011 and 2012, they said. 

That improvement would be rooted in an increase in Iraqi oil output to 3.1 million barrels per day by 2012, from around 2.5 million bpd now, and exports of 2.5 million bpd, compared to just over 2 million bpd now. 

That outlook might be conservative following the signing of 10 multibillion-dollar deals with global oil firms to develop Iraq’s vast reserves. If all the deals work out, Iraqi oil capacity could soar to 12 million bpd in six to seven years. “The CBI will continue to be independent in the pursuit of its policy objectives. 

The CBI’s monetary and exchange rate policies will continue to be aimed at keeping inflation under control and safeguarding international reserves,” the submission said The banking sector is in urgent need of reform to foster financial intermediation and enable banks to contribute to the development of a strong private sector. 

With the help of the World Bank and other international agencies, Iraq has developed a banking sector reform strategy, it added.

[bondLady] Iraq is committed to strengthening the management of international reserves by moving ahead with the implementation of new reserves management guidelines that were adopted in early August 2008. Iraq will follow the guidelines to diversify currency composition and establish appropriate duration and credit risk, build capacity for risk analysis, and work towards establishing a dealing room”. 

The IMF submission said Iraq’s Central Bank planned to create a foreign exchange market outside the framework of regular dollar auctions now conducted by the bank. The bank uses the auctions to set the exchange rate, which has been held at 1,170 dinars per dollar for many months.

“To improve the functioning of foreign exchange auctions, we plan to develop organized exchange markets outside the central bank, including an interbank foreign exchange market,” it said. “Our aim is to establish a forward market in Iraqi dinars in the near future.”

http://www.bi-me.com/main.php?id=45051&t=1&c=17&cg=4&mset=1011



BondLady] comments? You both covered a lot of this already as to their progress, I just wanted to show shabbibi said these things we see happening now 2-3 and 5 years ago

[shredd] controlling inflation/managing exchange purpose of the auctions

[scoooter] What will be interesting is to see what happens when they hit the OPEC limit of 4 mbpd

[lightingcslt] Scoooter I beleive they there already

[scoooter] That will be interesting because of Saudi influence and Iran

[bondLady] They are right on the point for that too scooter

[scoooter] Really

[bondLady] 3.9+ yes

[scoooter] I just say something that said 3.8 hmm sorry

[bondLady] actually OPEC has given them an increase to export

[shredd] yes they will be close by end of year

[scoooter] really hmmmm-- that I didn't know -- I wonder where that oil will be refined ?

[bondLady] they are in process of building there own refineries as well, huge ones, also they are piping it to near by countries to refine as well

[bondLady] I'id like to move the topic to the remove the 000 from the dinar please and I have 2 last things per that and then ms timmy will setttle the guru arguement about Presidentual Executive Order 13303

[bondLady] Central Bank plans to raise zeros from the Iraqi currency 2010-02-07 15:06 Economic - of the Iraqi Central Bank plans these days on the implementation of the strategy to delete the zeros of the Iraqi currency and small face value and keep the cash value and purchasing power without causing any economic Atrapat may occur over this strategy. 

The Economic Adviser in the Central Bank of the appearance of Mohammed Saleh in a statement that the current year will witness the launch of this strategy, the Bank completed 50% of the preparations that are working on since 2005 .. Saleh pointed out that the strategy based on the principle of gradual substitution of the Iraqi currency with another is lower than in the nominal value, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade.

 http://www.aljewar.org/news-21704.aspx

[bondLady] note the date....2/7/10

[bondLady] They were ready 3 years ago but the people freaked so shabibi said I'll delay it until next year 2011 and again the people freaked ,scared of failure and Iraq has one shot to get this right ! 

The future of Iraq depends on that so I've noticed with Iraq everything with them takes 2 years! Unless they freak then they delay which is what they have done since close to 2005

Central Bank: It is time to re-evaluate the currency, commensurate with the price changes and the wage in the economy 19 2011 15:58 GMT Tuesday, 19 2011 15:58 GMT ..

May not remain there is a need to act for this counter so quickly if applied to the central bank project by deleting three zeros from the Iraqi currency .. .

 Bank, which sets monetary policy for the country confirms that it is time to re-evaluate the currency to suit the changes in the wage-price and economy.

 appearance of Mohammed Saleh / adviser to the CBI: Iraq after five years on the verge of producing a large oil 6 million to 12 million barrels of Iraqi oil would be a regional power in the management of energy in the world and will be the proceeds of a large system and the current cash management system currency in this way is a product of phase lag like it or not needed reform the management of currency after five years claimed the block becomes large cash) 

Shops, banking companies were not enthusiastic about the project, which says that its application may cause economic problems or technical unnecessary at the present time. Shop owner Banking (Mo is the time because if Mistqr country's economy and stabilize exchange rates, buying and selling of the dollar Menkdr use the lifting of the zeroes)

Shop owner Banking This thing we Menkdr TOGETHER we identify the issue depends on the application may show problems then the possibility of fractures disparity of individual things and things hobby art) 

As for the citizens, the deletion of zeros memory bring them back to the days of the power of the Iraqi dinar which is welcomed by some, while others appeared unconvinced by the possibility of its application Citizen (God, Kalash Aoki suggested raising of the Iraqi economy and brings us back the dinar money days before the God who commissions Tasirlh value and purchasing power and the States they are)

 Citizen (Is the same thing if the lifting of the zeroes is the dinar Maltna and even abroad Mahd originally received by) 

Citizen (For the lifting of the zeroes FD Shi logical because the allowance Maiasir trillion words become even billions of people Fhm) 

As for the economists Vitmonon The theme of the deletion of zeros will not make a difference in handling cash or in any way affect the Iraqi economy unless they take into account the changing value of exchange in relation to the dollar Ali gnathion NA / Economist: 

( (This is an administrative process involving the central bank itself in the management of currency and the economy will remain only if the change rate of the Iraqi dinar for example, now is a dollar in 1180 JD permissible if Swoh means three whistle 118 or you will be 1.0 that Alukt if it has become one break zero dinar to the dollar means to improve the purchasing power of the dinar)

[bondLady] And show the Iraqi Central Bank reservation of criticism and reactions that have been raised about the project to delete the zeros from the currency, noting that his project is based on a thorough study to serve the Iraqi economy will be the case ended, the Council of Ministers and House of Representatives.



[bondLady] comments?

[scoooter] yea -- that's the hybrid type of model that would work introduce the new while market forces drive the value up because it will take them time to get and retrieve the larger notes they suck in all the big notes use them for interbanking facilities and transactions then send the smaller notes out to the populace

[bondLady] taking note that this article is 2 years old March

[scoooter] and it will be inevitable the value will be driven forward . yep -- I agree with what their saying there it makes complete sense

[bondLady] they also just today posted a article about destroying the 000 notes as they bring them in as well

[scoooter] there will be a lot of "soiling of notes" taking place, they will burn a lot of those notes and replace the liability with electronic funds

[bondLady] lastly for me is the DFI fund set to expire from what transpired in 2011 per the DFI and debt owed and creditors and law suits. Here we are again 2 years later and its set to expire again on May 22, 2013

[bondLady] this is a heads up basically, a look through the past to see what to expect here shortly and whats been done to date

Central Bank: Iraq Will Use the IMF to End the File of Commercial Debt 06/04/2011 11:48 Baghdad, April 6 (Rn) – The Central Bank of Iraq adviser said Wednesday that Iraq will use the IMF to end the file of commercial debt after the end of the Trusteeship internationalism on Iraqi funds in June next year. 

He said the appearance of Mohammed Saleh told the Kurdish news agency (Kaniwz) that “the Central Bank of Iraq will use the advice and the opinion of the International Monetary Fund and World Bank to end the file of commercial debt which is supposed to be resolved by Iraq through a clear plan.” 

He continued that “the Committee set up by Iraq to develop a legal study to prevent any danger to his money, and established a mechanism for coordination between them and the International Monetary Fund to prevent any violation of these funds and in accordance with the Paris Club agreement

[bondLady] The Paris Club is an informal group of financiers from 19 countries of the world’s richest countries, notably the United States, Britain, Australia, Italy, Japan, the Netherlands, Germany, Ireland, provides service to cancel debt for debtor and creditor countries. 

The IMF had identified the names of those States, after alternative solutions have failed, with the change of methods of payment of outstanding debt. Mohammed indicated that “Iraq will continue to grant debt to commercial companies and businessmen who claim they are asking Iraq according to international action in the payment.” 

On 6 March last, the central bank that Iraq follow the high political level in the debt economy, it did not face legal problems, as announced on 23 February that Iraq paid the debt 3500 credit commercial value of $ 2.7 billion as a means to protect his money, foreign manipulation of the trading companies.

It is hoped that Iraq shall submit to the UN Security Council a detailed report in May next looks for the most important pillars of the protection of Iraqi funds.

[bondLady] Revealed the Iraqi Finance Ministry on the seventh of January last, the work of the Committee to Protect Iraqi funds abroad will be secret, to avoid the fictitious companies which Iraq claims it requests funds. 

The Ministry of Finance of Iraq, the first of last January that “the Commission on technical government took over the development of mechanisms to protect Iraqi funds in foreign banks, after the UN Security Council resolution mid-November last, who spent lifting of protection for the money to Iraq the end of June next . 

The UN Security Council voted unanimously in mid-January last three resolutions concerning the lifting of the embargo imposed on Iraq on the import of nuclear material for peaceful purposes, and cancel the oil for food program, also extended the immunity of and for the last phase compensation imposed under Chapter VII until the end of June / June.

The former Iraqi president Saddam Hussein ordered the invasion of Kuwait in 1990, and the impact of sanctions imposed on Iraq from the international community and put under Chapter VII, which makes it a country threatening world peace and security.

 Included international sanctions prevented the import of chemicals, nuclear technology that could be used in a secret nuclear programs, chemical and biological weapons. Has allowed the United Nations in 1995 for Iraq to sell oil in return for food, called “oil-for lunch.” Allonan of Jafar, the Open: Wafaa Zangana

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/2/215456/&rurl=translate.google.com&twu=1



[bondLady] question.........does it affect us as investors one way or the other whether the DFI funds stay in protection mode with us or some other country or does it affect us if Iraq takes it back ? comments please

[scoooter] the U.S. courts alone will open up a can of "whoop-axx" in the amount of $100 Billion if they aren't protected, this one is a tough one -- not sure how they are going to handle it

[shredd] Scoooter what part?

[scoooter] Well -- first the paris club doesn't include many of the middle eastern countries in fact their debt to their neighboring countries is almost equivalent to the paris club members now they've been paying that down considerably but the amount owed to other countries would be staggering if they don't protect those funds. jmo now I've been out of the loop of information for some time but I can't imagine the rules of engagement have changed that much

[bondLady] they don't want creditors and law suits coming out of the woodwork to slap holds on it for sure

[scoooter] here's the other item to consider those funds were confiscated in 1990 at what rate were they confiscated at ?

[lightingcslt] 3.22 ?

[scoooter] nope

[shredd] Scoooter the Paris club in its design was brilliant and imo the consolidated plan for iraq's success contingent on their growth will fulfill its purpose

[scoooter] some of them may have been

[lightingcslt] true

[scoooter] Yep -- it consist of the credit worthy nations of the world and they forgave 80% of the debt but the neighboring countries pretty much said NO WAY! so they've been working on that debt -- nation by nation

[bondLady] it wasn't for lack of begging on Iraqs part

[scoooter] and they've done a great job on that

[campdav] Confiscated rate please?

[scoooter] it varied in price I saw some from england at 2.51, I saw Egypt at 3+ , I saw some derivatives at 3.22 but it's all over the map

[DogzNova] the IMF has the rate in 1990 SDR at April 30, 1990 2.46985

[scoooter] Saddam really really screwed his people on this

[scoooter] Thank you Nova! ok -- I need to run unfortunately but I wanted to thank everyone here very much ! I have missed my friends here at BondLady's Corner, it's an outstanding group of people

[DogzNova] Scoooter your welcome and thank you

[lightingcslt] no thank you Scooter

[tlm724] Scooter thank you very much !

[campdav] Scoots thanks Mate

[bondLady] thank you so much Scooter ! We really appreciate you coming by and chatting with us and hope to do it again really soon

[scoooter] You are welcome

[bondLady] go timmy and thank you

[tlm724] Let me begin with a link to Executive Order 13303 for your viewing pleasure http://www.treasury.gov/ ··· 3303.pdf

 As well as the link to President Obama's most current extension dated May 18, 2012 http://www.whitehouse.go/ ··· ion-iraq

[tlm724] I want me clarify one point about Presidential Orders: The president can amend or retract an executive at any time. The president may also issue an executive order superseding an existing one. 

New incoming presidents may choose to retain the executive orders issued by their predecessors, replace them with new ones of their own, or revoke the old ones completely. In extreme cases, Congress may pass a law that alters an executive order, and they can be declared unconstitutional and vacated by the Supreme Court.

So let me set the stage here. In May 2003 , the U.N. Security Council unanimously adopted Resolution 1483, which ended sanctions and endorsed the creation of Development Fund for Iraq, to be controlled by Paul Bremer and overseen by a board of accountants, including U.N., World Bank and IMF representatives. 

It endorsed the transfer of over $1 billion (of Iraqi oil money) from the Oil-for-Food program into the Development Fund.

[tlm724] EO 13303 was created May 22, 2003 to protect the DFI (Development Fund for Iraq) which consists of seized and "vested" Iraqi bank accounts and funds seized by coalition forces and proceeds from the sale of Iraqi oil and natural gas . 

This EO basically protects this fund from any legal attachments and liens and also protects Iraqi oil products and interests . It also protects US corporations / persons from attachments as well. It basically provides an umbrella of protection against litigation and opened the door to investment in the country of Iraq for foreigners with this added assurance of protection and provides absolute legal protection for US interests in Iraqi oil etc..

I'll just use the United states as our example, it allows US companies to establish business's and invest in Iraq safely. Included in that is our right to invest also. That being said our investment took two steps forward without me really realizing it .

 In September 2003 CPA (Coalition Provisional Authority) #39 was entered into force thus allowing us to continue to invest in Iraq via our currency purchases. Let me quote just one item from CPA 39:

[tlm724] 4) “Foreign investor” means (a) a business entity constituted or organized under the law of a country other than Iraq; (B) a natural person who is (i) a national of a country other than Iraq, (ii) a stateless person not residing permanently in Iraq, or (iii) a national of Iraq residing permanently outside of Iraq; or © a business entity constituted or organized by any of the above under the law of Iraq; that is making or has made an investment in Iraq.

http://www.iraqcoalition/ ··· ent_.pdf

[tlm724] See there, foreign investor and a national of a country other than Iraq, that's us . Then in 2006 Iraq passes the Investment Law Number 13 of 2006 and revokes CPA #39 in Article 34 The (dissolved) CPA Order No. 39 of 2003 shall be revoked. http://www.iraq-lg-law.org/en

[tlm724] IMO we are now covered under the Investment Law for the country of Iraq. And that is a win / win no matter how you look at it. There is no way Iraq will ever stop investment in their country and yes that includes us !

[bondLady] You bet it does

[tlm724] Is it of consequence to us as investors if the EO 13303 is not continued after May 22, 2013 ? IMO No, I do not think it will effect us at all. Does it matter to Iraq ? Well I would think so considering there is over $18 billion US dollars in the fund. Iraq must protect these funds whether its an extension from the US or through negotiations with countries/persons which have legitimate claims against Iraq .

[bondLady] love this part......These new banknotes led to a new industry**** of selling the new Iraqi dinar ******to oversea investors******** who*** hoped to profit**** from Iraq's new currency****** when the economy improved. ***********

The provisional government of Iraq has made this legal,**********(and so did our President Bush, when he signed the presidentual order allowing all american citizens to be able to invest in iraq..

But the banknotes are exchanged at different rates by companies wanting to make profit. This is taken from wikipedia ..history of the iraq dinar

[bondLady] link if anyone would like to read it in our archive

[shredd] yes, this is so great to discuss and at this time too

These new banknotes led to a new industry of selling the new Iraqi dinar to oversea investors who hoped to profit from Iraq's new currency when the economy improved. The provisional government of Iraq has made this legal

[bondLady] so they passed investment laws just so we could do this currency thing and the Presidentual Executive Order 13303 and the Iraq government through laws passed, made it where we're good to go whether they resind the order or not. It doesn't matter were covered under the investmnet laws. So hopefully that puts all that sillyness to rest, we are grandfathered in !

[tlm724] BondLady exactly !

[bondLady] let me show one last article from today

[bondLady] todays news Deputy: the need to control the formation of committees to destroy the old currency in the implementation of the project to delete the three zeroes 25-04-2013 12:27 PM Baghdad (news) .. Stressed member of the Economic Commission MP / National Alliance / Abdulabas Xiaa, 

the importance of the formation of committees control of all state institutions to pursue the process of destroying the old currency in the implementation of the project to delete the three zeroes from the national currency. 

said Xiaa (of the Agency news): The project to delete the three zeroes is one of the important projects and sensitive because it is linked to public money, process of implementation should be monitored and accurate to prevent fraud and manipulation and money laundering. 

said: that the practical measures to destroy the old currency must be under the control of the House of Representatives and government institutions in the country and with the participation of the media through the formation of committees to monitor , to prevent tampering and theft by some quarters. 

said: that the central bank gave a deadline of two years for the process of replacing the old currency currency deleted them zeros, to be handled together, that is the absorption of the old currency from the market so that it did not feel out of the citizen.http://www.ikhnews.com/index.php?page=article&id=82642

[shredd] they been saying the replacement process is two years

[lightingcslt] Shredd yep there it is, thats how long you got to turn those puppys in. BondLady that art said it all imo

[bondLady] and they been saying they were going to do it for 3 years. It's time and we are seeing all this happen thats why I took you all down memory lane

[gaffi347] BondLady So they are a year late?

[bondLady] thev have talked about it since 2005 gaffi

[shredd] this article may get overlooked but it is a big piece to the puzzle .Weknow they will destroy as they are brought in AND that it is a TWO YEAR PROCESS. What does that tell us? Well, what it tells us the what WON'T happen

[bondLady] lop

[shredd] right we won't be left hanging out to dry with worthless dinar, that will be useless

[bondLady] I just wanted you all to see it is time and the time is now and we're seeing it all happen ! Right Shredd and the new money has something like 33 security features. 

Why go to those extremes if your going to have toilet paper for money, not happening. No other country on the planet has that much, most powerful currency coming thats why and we're part of it . 1166 with 33 security features ? 

Our new $100 doesn't even come close to that much , no ones does

[shredd] revalue, replace for two years, destroying as they go

[tlm724] BondLady I want to say thank you to the best leader and team ever ! It all comes down to the truth !

[bondLady] thank you hun as a team there's nothing we cannot do or any problem we can't solve

[shredd] The bottom line, dear members is this…….we are in a “when” situation and not an “if”. The wealth is there, the growth is there and the investment is there. These will all continue to grow. For me, this project of deleting the zeros moving full steam ahead is very exciting. 

Soon we will see proof of the lower denominations, soon we will discover more and more of the CBI’s monetary policy changes and soon we will see the dinar’s exchange rate change.

What is interesting to watch for is the upcoming May deadline with the DFI funds protection as well as the growing demand for the dollar and how that may push forward or expedite the emergence of a stronger Dinar. 

I know it can get frustrating to wait but if you look at the bigger picture like I hope I’ve shown you, it is impossible to not be optimistic. My wonderful grandmother would tell me, “patience is a virtue” which is so stinkin’ true. Remember, this is not an “if”… this is a “when”. 

The Dinar has gained from 4000 to 1 already and the ISX is rapidly growing as well. Look at the big picture and down the road just a little bit and before you know it, the life change we seek will be right at our feet.

 I'd like to thank Scooter, Bondlady and Miss Timmy for the teamwork. Also, thank you to all of our visitors tonight!

[lightingcslt] great job thank you all !

[campdav] Greatest chat to date.World record Heavyweight champs

[bondLady] I would like to thank timmy , shredd and scooter as well and all who helped pull this awesome and informitive chat off tonight...applause and thank you all so much for being here. Thank you memebers for your patience and I hope all our new members will come back and not be a stranger ! We have enjoyed having everyone very much and thank you kindly !

I LISTENED TO A CALL LAST NIGHT - FROM A "TEAM" I THINK ARE WELL INFORMED - THE PERSON I WAS LISTENING TO STATED  (AND HE SAID WITH EMPHASIS) THE DELETE THE ZEROS TERM MEANS TO REMOVE THE CURRENCY AND REPLACE.


JUST FOUND THIS - HERE'S THUG'S POST ON THIS (BLAST FROM THE PAST)

 

http://dinarvets.com/forums/index.php?/topic/146698-scooter-bondlady/

  • Upvote 3
Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.