Dinar News Monetary policy to delete the zeros of the Iraqi currency

[saphire]

Monetary policy to delete the zeros of the Iraqi currency

Iraqi Central Bank is working on a strategy to delete the zeroes of the Iraqi currency in and out of their face value while maintaining the values of cash and purchasing power.

Central Bank of Iraq adviser to the appearance of Mohammed Salih said that this year will witness the launch of this strategy, stressing that the bank has completed 50% of the preparations that are working on since 2005.

Salih said the strategy was 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.

For his part, sees Dr. Hilal Al-Tahan, that the application of such a strategy will not cause economic turmoil, or damage to the local market at the present time, while the economic analyst is willing to find satisfaction بليبل that the timing of the launch of this strategy is not appropriate, noting that the country's economy must be in a position of strength before the application of such changes.

http://translate.google.com/translat...ate.google.com

[junnito]

it is old...

[Chillin' out]

again?

I guess this will be posted everyday until the RV lol

[saphire]

I guess everyone is in denial.

I hope this is wrong for everyone's sake.

[VooDooWarrior]

I'm not buying it..... its not denial just the common sense kicking in......

[dinarcraze]

So since it took them 5 yrs to implement 50% of it maybe it will take them another five years for the other half hopefully by then we would have all cashed in

[super]

I guess everyone is in denial.

I hope this is wrong for everyone's sake.

I did a post on this same article yesterday and caught some flack over it and some good reply, but most people don't read all of it so they look at it as a bad thing, it looks like a good thing to me cause it gives proof of their intention to rv the dinar . Today is your turn in the barrel. lol

[dinarded]

I'm not buying it..... its not denial just the common sense kicking in......

Common sense kicking in?

Option A:

Your initial $2,000.00 "investment" turns into millions. <<<<------(I like this idea by the way.....but it doesn't mean it will happen)

Option B:

Iraq deletes 3 zeros which, by the way, maintains the VALUE of your original investment (or close to it at least) and leaves any return or loss based on movement from that point forward.

*Iraq's inflation rate in 2008 was over 26%. That is considered HYPER-Inflation by anyone's definition. The argument that MOST have posed AGAINST a "lop" is low inflation in Iraq----patently untrue!

GDP | $23.71 billion per year (world rank: 94th)

GDP at parity | $90.23 billion per year (2008) (world rank: 69th)

GDP per capita | $787.76 per person (2008) (world rank: 198th)

GDP real growth | 9.776%per year (world rank: 15th)

inflation rate | 26.23%per year

unemployment rate | 18.2% (2008) (world rank: 45th)

http://www01.wolframalpha.com/input/?i=iraq

So while I, like you, HOPE for option "A", the "COMMON SENSE" option SHOULD lead one to accept, or at least heavily consider, option "B."