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THE CENTRAL BANK OF IRAQ IS READY TO REVALUE THE DINAR


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#1 BBALL99

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Posted 02 October 2010 - 07:22 PM

The Central Bank of Iraq is ready to delete the zeros from the dinar
after the formation of the government directly


Posted: October 2, 2010 by Justhopin in Iraqi Dinar/Politics


The Central Bank of Iraq, Banknote Economic expert called for increased funds in central bank dollar and the reduction of import commodity because of its link the issue of the deletion of zeros.

Mahouelle’s (Citizen): The process of deletion must be matched by the power of currency

Said Dr Issam Mahouelle’s (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency.

Stressing that the issue is not the issue, but delete the zeros is the issue of currency of a country which can raise the value through the revitalization of internal and external trade balances and increase the dollar and the reduction of import. The Central Bank of Iraq has affirmed its readiness to delete the zeros from the currency after the formation of the government directly, pointing at the same time that those zeros that are added to the Iraqi currency during the past formed a cluster of large cash amounted to 27 trillion Iraqi dinars.

The adviser said the Iraqi Central Bank Governor appearance of Mohammed Salih in an interview with “Alsumaria News”, “The zeros that are added to the Iraqi currency, during the last period, formed a cluster of large cash amounting to more than four trillion paper money, financial value amounted to 27 trillion Iraqi dinars, after that was 25 billion dinars in 1980, “noting that” Iraq is unable to manage this block because it is a small country where the large number of funds that traded on the Iraqi market has led to confusion in transactions for large commercial banks and in the work. ”
The Iraq and gradually the issuance of new banknotes after 1991 when it began currencies are scarce in the Iraqi market for several reasons, most notably the high demand for them to meet the buying and selling as well as the smuggling of currency abroad, and to the north of Iraq, which split its time for the central administration, which made the Iraqi government allows Central Bank of printing new banknotes to meet the local need, and continued the process of lifting of the zeroes of the dinar to beyond 2003 through the issuance of a class of cash amounting to 25 thousand dinars.

Saleh added that “the Bank has fully prepared to delete the zeros of the Iraqi dinar, once forming the Iraqi government,” noting that “the deletion of zeros is a national issue and may need to special legislation, despite the fact that the Central Bank of Iraq is a reform of the currency management from the core work and to delete the zeros is one of the strategic functions of the Central Bank of Iraq. “

Saleh pointed out that “the Bank was able, during the last term, to reduce the level of inflation to the level of one decimal place, after more than twenty years,” noting that “Iraq has managed for the first time to reduce inflation to 3%, which reflects the success of the policy of the country’s monetary” . For his part, said economic expert on behalf of Jamil Antoine in an interview for “Alsumaria News”, “Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar,” noting that “the deletion of zeros needed to stabilize the security and political, as well as economic stability.”

Antoine said that “the central bank by seeking to delete the zeros of the Iraqi dinar is designed to give moral force, not physical strength of the dinar,” noting that “the deletion of zeros needed to create and cultural awareness for the Iraqi people and the Iraqi market.”

The CBI, with headquarters in Baghdad, has four branches in Basra and Sulaymaniyah, Irbil and Mosul, and founded the bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March 2004, and is responsible for the maintenance of price stability and the implementation of monetary policy, including policies, prices exchange and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector.

http://translate.goo...mowatennews.com
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#2 DinarDiva007

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Posted 02 October 2010 - 07:29 PM

READY SET GO GO GO GO RVVVVVVVVVV!!!
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#3 kingcamera82

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Posted 02 October 2010 - 07:30 PM

just another recycled article from the past with a todays date.

Edited by kingcamera82, 02 October 2010 - 07:32 PM.

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#4 kingcamera82

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Posted 02 October 2010 - 07:34 PM

Please translate into dumb

translation......LOP....sorry
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#5 Phoenix

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Posted 02 October 2010 - 07:36 PM

"Said Dr Issam Mahouelle’s (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency."

Translation: Revaluation
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#6 BBALL99

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Posted 02 October 2010 - 07:39 PM

translation......LOP....sorry


Thank you for better explaining it Pheonix
Just pulled this artical from
http://currencynewsh....wordpress.com/

This is what removing the zeros will do to the currency
present Dinar value .000854
less the zeros .85 =Revaluation to whatever the current economic wealth of the country is.

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#7 kingcamera82

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Posted 02 October 2010 - 07:40 PM

"Said Dr Issam Mahouelle’s (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency."

Translation: Revaluation

the way i read it was that they get a new currency with increased power..so my take is yes an rv but a redenomination at same time.....let me state i dont want this but thats the way this recycled article states it. the cbi has also had plenty of articles saying the word redenomination...maybe smoke maybe not jmho
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#8 cgbrown

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Posted 02 October 2010 - 07:41 PM

So what's the old date and where did this come from?
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#9 Phoenix

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Posted 02 October 2010 - 07:42 PM

That does not appear to be current news,
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#10 kingcamera82

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Posted 02 October 2010 - 07:44 PM

Thank you for better explaining it Pheonix
Just pulled this artical from
http://currencynewsh....wordpress.com/

This is what removing the zeros will do to the currency
present Dinar value .000854
less the zeros .85 =Revaluation

its removal of the zeros from currency...not the value of the currency.
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#11 pop

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Posted 02 October 2010 - 07:44 PM

DIDN'T I READ THIS WEEKS AGO ?? SOUNDS LIKE THE EXACT SAME NEWS POST? I MEAN IT COULD BE A GOOD THING BUT IT IS REALLY OLD NEWS ON A OLD SUBJECT. I AM A NEWBIE OF ONLY A FEW MONTHS BUT HAVE BEEN READING ABOUT THIS INVESTMENT DURING MY RESEARCH FOR OVER A YEAR. THE SUBJECT OF THE ZERO'S HAS BEEN KICKED TO DEATH WITH ZERO CONCLUSIVE ANSWERS OF WHO ,WHEN, OR HOW IT COULD BE DONE SO TO ME AND MY RESEARCH IT IS A MUTE POINT.Rev Dan
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#12 kingcamera82

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Posted 02 October 2010 - 07:46 PM

That does not appear to be current news,

its not...its been posted quite a few times on here
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#13 BBALL99

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Posted 02 October 2010 - 07:49 PM

its removal of the zeros from currency...not the value of the currency.

No sorry, Its the removal of the currency with the zeros
and the revaluation of the currency with the introduction of
smaller denominations.

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#14 RICK C

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Posted 02 October 2010 - 07:52 PM

Thank you for better explaining it Pheonix
Just pulled this artical from
http://currencynewsh....wordpress.com/

This is what removing the zeros will do to the currency
present Dinar value .000854
less the zeros .85 =Revaluation to whatever the current economic wealth of the country is.

Could they be talking about Removing just the Large Bills with three zero's on them. Much like the US removing the $1,000.00 note we once had in circulation? and then revaluing to a rate closer to those of their Neighbors, Kuwait-Jordan Saudi Arabia. Answer's or opinions welcome.
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#15 BBALL99

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Posted 02 October 2010 - 07:53 PM

its not...its been posted quite a few times on here

Just Posted on

another site.wordpress.com/
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#16 kingcamera82

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Posted 02 October 2010 - 07:54 PM

No sorry, Its the removal of the currency with the zeros
and the revaluation of the currency with the introduction of
smaller denominations.

lmao...thats what my post said before that...your other post said taking off the 3 zeros from the value which is not what the article says at all. it says removal of the aeros from currency which is removal of the gig notes such as 25,000 and 10,000....learn to read
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#17 splicer09

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Posted 02 October 2010 - 07:55 PM

I have to agree this post is outdated. And lop is not such a bad thing.people will still make out.
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#18 peanut46

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Posted 02 October 2010 - 07:56 PM

Thank you for better explaining it Pheonix
Just pulled this artical from
http://currencynewsh....wordpress.com/

This is what removing the zeros will do to the currency
present Dinar value .000854
less the zeros .85 =Revaluation to whatever the current economic wealth of the country is.




Thank you for putting this in blonde terms I finally understand the removing the zeros
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#19 kingcamera82

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Posted 02 October 2010 - 07:56 PM

[size="3"]Just Posted on[/size]

[size="6"]another site.wordpress.com/[/size]

lol i could care less just posted that on their website....its been posted here before that so do some research before you respond...this same article has been posted here already a few times

Edited by kingcamera82, 02 October 2010 - 07:58 PM.

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#20 onerighthand

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Posted 02 October 2010 - 08:00 PM

either way my fellow Dinarians, I am glad to have a Warka account.

We will be wealthier than we are now and soon.
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