Translation of the Removing Zeros Program we all saw

[VIZIOIRAQI]

Translation of the Removing Zeros Program we all saw-------------------Male 1: Ahmad Husni - Announcer:

As soon as the subject has been broached, even met with a considerable objection from the specialists, experts and observers of the economic situation. It has been also supported at the same time. Deleting zeroes of the Iraqi currency, the project which the Central Bank intends to apply on the coming days, to reduce the nominal value while maintaining its cash value and purchasing power.

In early 2007, the Central Bank has proceeded in developing a strategic project titled "Reform of the management of the Iraqi currency” by a recommendation from the Economic Commission of the Council of Ministers, and subsidized by the Ministry of Finance. The project addresses the gradual substitution of the Iraqi currency with another which is lower in the nominal value. Economists believe that this would lead to provide the new currency with a higher value than the current value, thereby, the reinforcement of the trust between the dealers inside and outside, with introducing a currency of parts of the Dinar to be handled in the market, which enhances the value and facilitates the currency trading works that lead to reduce the big currency trades which burdens the state owned enterprises and the community. This gives more flexibility in doing business on the local and the international basis. As well as it will facilitate the work of the banks, the private and the public sectors in organizing the financial accounts.

These positive effects were met by some economists with a point of view seeing that the change of the currency confuses the economic situation at the present time.

Male 2: Ragheb Reda - Chairman of the Union of Iraqi businessmen:

At present, there will be a great confusion, and the Iraqi Union does not need such confusion and could not bear such shock, which may cause many problems to us, we are not in need for that at present. Deleting zeroes at the present time has no economic feasibility or benefits for the Iraqi economy. On the contrary, I believe that remaining the present situation until the economy recovers and the cycle of the Iraqi economy gets natural in all of the economic sectors, while the project of deleting zeroes should be more studied, as discussed lately. However, there is also a considerable disagreement between the opinions calling for deleting zeroes and a lot of Iraqi economists who have long experience in the analysis of the economic cycle.

Male 1: Ahmad Husni - Announcer:

The speech of the chairman of the Union of Iraqi businessmen leads to a question: Is the economic environment well suited and powerful to accommodate such changes? <BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break">

Male 3: Majd AL-Soury - Economist:

The economic situation and the decision of deleting zeroes of the Iraqi currency is not the first operation in history, there are many countries have already deleted six zeroes, some of them deleted three zeroes and others deleted two zeros, the basic issue is to choose the appropriate status or occasion to implement the process of deleting zeroes. I think that, at present, the economic situation because of the chaos and confusion that is happening in the economic process and the economic policy, I believe that there is a room to talk about the possibility of inflation in prices in Iraq and in the ..A.. A.. I mean the process of inflation in prices. The essential issue is, as long as those factors exist, they should be eliminated. It is true that inflation began to be reduced as a result of the monetary policy applied, but in general, the financial policy still with the increase of the consumption, and the increased consumption in any form will lead to an increase of the demand and increase of the high price. In the month of Ramadan, we noticed that most of the prices increased for this occasion, a very high increase of the prices. This was an emergency situation, but the basic situation - in my point of view - is the economic conditions for the inflation are still remaining, I believe that this process should be studied more to choose the appropriate time for deleting zeroes.

Male 1: Ahmad Husni – Announcer:

Spokesman for the Baghdad Investment Organization believes that this issue needs procedural situations more than its need to adapt the economic environments.

Male 4: Thaer AL-Fealy - Economist - Spokesman for the Baghdad investment Organization:

We do not need to adpt the economic environments, but we need procedural environments. I believe that, at present, the procedural environments have been organized to the central bank by substituting the currency .. to a lower figure, a process to maintain currency with the same value, but switching a thousand Dinars to one Dinar; deleting three zeroes, that is the idea in fact. They are procedural matters, not changing of the economic environment because I do not believe that this process is related to the price of the Dinar itself, it may be slightly affected due to the market practices only.

Male 5: Thabet Al-Baldawi - Industrial Investor:

Deleting zeroes does not raise the value of the Iraqi Dinar, and does not as affect it as it facilitates the flow of the currency and eases the interaction and its impact is local only, but does not affect the global interaction. Because the global interaction is by Dollar, the Dollar is exchanged with its equivalent value in Dinar. So, deleting zeroes does not mean that the Iraqi Dinar will rise to the highest level, but a year or two years ago, the Iraqi Dinar has maintained its value in the global and local markets.

Male 1: Ahmad Husni - Announcer:

The consultant of the central bank believes that this step will reduce the size of the monetary supply handled in the Iraqi market, which confuses the substantial business dealings and the work of banks, adding that the project of deleting zeroes from the currency is applicable, but waiting for the appropriate political, economic and secure timing.

Sorry No LINK this is the Full Translation to the Program in Iraq Removing Zeros. All three Programs were the same so only one needs to be posted. I was hoping for more info out of this, looks like the other so called translators that tried to translate the video were way off!!

[Doc31]

I swear that this is a 2005-2007 statement that I've seen dozens of times ... then again, maybe it's all just running together in my head ...

Peace

Doc31

[sessi]

I just get the impression this is pure commentary from observers in Iraq. Fairly sure that they know no more than us. Just their opinions. And if you live in a country that is so censored and misinformed I am sure that if they were telling us a donkey was a rabbit they probably believe it.

I am not dissing it, never have gone down the road of the get rich quick brigade, but it makes sense to view this just as it is.

Thanks V.

[VIZIOIRAQI]

I swear that this is a 2005-2007 statement that I've seen dozens of times ... then again, maybe it's all just running together in my head ...

Peace

Doc31

I thought the very same thing, Looks like a heavy re-run of all there articles put on TV. Well I can say it wasn't worth the 50 bucks I spent getting the Translation done, but she is good at it !!!

[carlablum]

I thought the very same thing, Looks like a heavy re-run of all there articles put on TV. Well I can say it wasn't worth the 50 bucks I spent getting the Translation done, but she is good at it !!!

Hey VIZIOIRAQI!

Thank you so much for getting the translation and providing it on your own dime. When this rv's I'll buy you a bottle of Louis XII!!

Thank again!!

Carla

[RicknSaudi]

Thanks Vizio. I think we can finally put this baby to rest...Great job!

[NAHOKU88]

Translation of the Removing Zeros Program we all saw-------------------Male 1: Ahmad Husni - Announcer:

As soon as the subject has been broached, even met with a considerable objection from the specialists, experts and observers of the economic situation. It has been also supported at the same time. Deleting zeroes of the Iraqi currency, the project which the Central Bank intends to apply on the coming days, to reduce the nominal value while maintaining its cash value and purchasing power.

In early 2007, the Central Bank has proceeded in developing a strategic project titled "Reform of the management of the Iraqi currency” by a recommendation from the Economic Commission of the Council of Ministers, and subsidized by the Ministry of Finance. The project addresses the gradual substitution of the Iraqi currency with another which is lower in the nominal value. Economists believe that this would lead to provide the new currency with a higher value than the current value, thereby, the reinforcement of the trust between the dealers inside and outside, with introducing a currency of parts of the Dinar to be handled in the market, which enhances the value and facilitates the currency trading works that lead to reduce the big currency trades which burdens the state owned enterprises and the community. This gives more flexibility in doing business on the local and the international basis. As well as it will facilitate the work of the banks, the private and the public sectors in organizing the financial accounts.

These positive effects were met by some economists with a point of view seeing that the change of the currency confuses the economic situation at the present time.

Male 2: Ragheb Reda - Chairman of the Union of Iraqi businessmen:

At present, there will be a great confusion, and the Iraqi Union does not need such confusion and could not bear such shock, which may cause many problems to us, we are not in need for that at present. Deleting zeroes at the present time has no economic feasibility or benefits for the Iraqi economy. On the contrary, I believe that remaining the present situation until the economy recovers and the cycle of the Iraqi economy gets natural in all of the economic sectors, while the project of deleting zeroes should be more studied, as discussed lately. However, there is also a considerable disagreement between the opinions calling for deleting zeroes and a lot of Iraqi economists who have long experience in the analysis of the economic cycle.

Male 1: Ahmad Husni - Announcer:

The speech of the chairman of the Union of Iraqi businessmen leads to a question: Is the economic environment well suited and powerful to accommodate such changes? <BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break">

Male 3: Majd AL-Soury - Economist:

The economic situation and the decision of deleting zeroes of the Iraqi currency is not the first operation in history, there are many countries have already deleted six zeroes, some of them deleted three zeroes and others deleted two zeros, the basic issue is to choose the appropriate status or occasion to implement the process of deleting zeroes. I think that, at present, the economic situation because of the chaos and confusion that is happening in the economic process and the economic policy, I believe that there is a room to talk about the possibility of inflation in prices in Iraq and in the ..A.. A.. I mean the process of inflation in prices. The essential issue is, as long as those factors exist, they should be eliminated. It is true that inflation began to be reduced as a result of the monetary policy applied, but in general, the financial policy still with the increase of the consumption, and the increased consumption in any form will lead to an increase of the demand and increase of the high price. In the month of Ramadan, we noticed that most of the prices increased for this occasion, a very high increase of the prices. This was an emergency situation, but the basic situation - in my point of view - is the economic conditions for the inflation are still remaining, I believe that this process should be studied more to choose the appropriate time for deleting zeroes.

Male 1: Ahmad Husni – Announcer:

Spokesman for the Baghdad Investment Organization believes that this issue needs procedural situations more than its need to adapt the economic environments.

Male 4: Thaer AL-Fealy - Economist - Spokesman for the Baghdad investment Organization:

We do not need to adpt the economic environments, but we need procedural environments. I believe that, at present, the procedural environments have been organized to the central bank by substituting the currency .. to a lower figure, a process to maintain currency with the same value, but switching a thousand Dinars to one Dinar; deleting three zeroes, that is the idea in fact. They are procedural matters, not changing of the economic environment because I do not believe that this process is related to the price of the Dinar itself, it may be slightly affected due to the market practices only.

Male 5: Thabet Al-Baldawi - Industrial Investor:

Deleting zeroes does not raise the value of the Iraqi Dinar, and does not as affect it as it facilitates the flow of the currency and eases the interaction and its impact is local only, but does not affect the global interaction. Because the global interaction is by Dollar, the Dollar is exchanged with its equivalent value in Dinar. So, deleting zeroes does not mean that the Iraqi Dinar will rise to the highest level, but a year or two years ago, the Iraqi Dinar has maintained its value in the global and local markets.

Male 1: Ahmad Husni - Announcer:

The consultant of the central bank believes that this step will reduce the size of the monetary supply handled in the Iraqi market, which confuses the substantial business dealings and the work of banks, adding that the project of deleting zeroes from the currency is applicable, but waiting for the appropriate political, economic and secure timing.

Sorry No LINK this is the Full Translation to the Program in Iraq Removing Zeros. All three Programs were the same so only one needs to be posted. I was hoping for more info out of this, looks like the other so called translators that tried to translate the video were way off!!

my 250,000 iqd will then be worth only $250.00 us. so i guess perhaps we are basically just breaking even after the rollercoaster ride?

[madmanak47]

I thought we were finished with this.. Good God people let it go.

Madman Out

[VIZIOIRAQI]

I thought we were finished with this.. Good God people let it go.

Madman Out

This is not a lop re-run silly this is the Translation to the tv program they ran in iraq we all watched , but could not understand till now

[Ninjaturbo02]

I just get the impression this is pure commentary from observers in Iraq. Fairly sure that they know no more than us. Just their opinions. And if you live in a country that is so censored and misinformed I am sure that if they were telling us a donkey was a rabbit they probably believe it.

I am not dissing it, never have gone down the road of the get rich quick brigade, but it makes sense to view this just as it is.

Thanks V.

i thought Donkeys did come from rabbits.....!?! What the heck!! im so confused! ..... ha

[hspotman]

In the last Scooter chat, he said there was already things purchased "in" Iraq at the new rate, correct? So what does that mean in accordance to V's post? Could it be that this is what they have been wanting to do all these years, but are too lazy to re-shoot a different video of the same thing? I'm confused now..... ....well, I've always been confused with the IQD....

[Gr8Success]

Has anyone considered that the video we have access to is not the one that was shown to the Iraqi people? To me, it makes sense for the news station to simply post a "generic" video for all wandering eyes.

[Nelson0528]

How odd, That is Exactly what I anticipated from this program...

Yes we will; no, we won't. Yes we will; no, we won't. Yes we will; no, we won't.

LOL - And a BIG THANKS to VIZIOIRAQ !!!!!!

GOI RV !!!!!

Edited November 4, 2010 by Nelson0528

[zantac]

Great post but if this was a TV programme or debate did anyone turn up to debate anything.

Has to be the shortest Political/economic debate in history.

Well i guess it is Iraq & there good at breaking records

Just to start things off I have given my self a negative so you don’t feel so bad when you do the same

[JugDawg1]

Great post but if this was a TV programme or debate did anyone turn up to debate anything.

Has to be the shortest Political/economic debate in history.

Well i guess it is Iraq & there good at breaking records

Just to start things off I have given my self a negative so you don’t feel so bad when you do the same

Well I gave you a + just to mess with ya. How's that for contrary?

[VIZIOIRAQI]

I know I know I'm upset too lol what do you do with these Iraqi's lol It's to me a head game in ahalf , but that could mean great things for us they are hiding something. You Think

[BANE]

I thought Ali already translated this for us? It sais NOTHING like this.

[RiverStyx]

I thought Ali already translated this for us? It sais NOTHING like this.

That would hurt his sales if he said otherwise. Banker, Politician, Lawyer, they are all the same.

I do not know Ali but this is also the version I have read on what ? 3 other posts in here?

This sucks totally but would not shock me. This is what Venesuala and many other countries have done exactly.

I just hope they do not implement this. I would much rather see it RV at .10 than this for the time period of removing the notes.