CBI confirms the deletion of zeros and the currency exchange in 2013

[trooper]

CBI confirms the deletion of zeros and the currency exchange in 2013

September 24th, 2011 07:59 am

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh

Central Bank of Iraq, Saturday, that in 2013 will delete the zeros and the currency exchange, pointing out that the current currency formed a cluster of large cash estimated at 30 trillion dinars.

The deputy governor of the Bank the appearance of Mohammed Saleh said in an interview “of the Sumerian News”, ” central bank’s strategy of deleting three zeros and the currency exchange will be at the beginning of a new year and new budget for the Iraqi state, “expected to” be the currency exchange in the new fiscal year for 2013. “

Saleh added that the “zeros added to the currency led to the deterioration of the currency in Iraq, which led to the weakness in the efficiency of monetary exchange, “noting that” what you are suffering monetary institutions of Iraq at the present time of the errors in the accounts and records of returns caused by the high number of currency that are difficult to read. “

Saleh indicated that “the Iraqi currency current formed a cluster of large cash and up to 30 trillion Iraqi dinars while the number of securities traded in the market to four trillion paper after it was mass cash amounting to 25 billion dinars in 1980, “explaining that” the greatest currency in Iraq at the present time is equal to $ 21 and are not able to cover Payments large.

” Salih stressed that “the process of deleting the zeros and the currency exchange is the process of administrative reform of the currency of the Iraqi monetary and therefore does not affect the lifting of the value of things or change the per capita income of Iraq,” adding that “fear of people from the deletion of zeros is the fear psychologically, as the process of deleting zeros and the currency exchange have been applied in 53 countries, including Turkey when he deleted six zeroes from the currency and Romania, which omitted four zeros. “

He was an adviser to Prime Minister for Economic Affairs Abdullah Hussein Al-Anbuge, said in a (25 August 2011), to raise zeros from the currency is the biggest corruption in the Iraq if it was during this period, and fall under the name of tampering with the economic, warning of “mafias currency” is preparing to rig the trillion Iraqi dinars to replace them in the light of the planned changes.

accused the Central Bank of Iraq, in the twelfth of September, the current, government agencies of obstructing monetary reform and vowed to sue, loaded with the bodies responsible for endangering the interests of the country’s financial risk.

In the view of some economists that Iraq is poised at the present time 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.

and declared Iraqi Central Bank Governor Sinan Shabibi , during a meeting of independent bodies with Prime Minister Nuri al-Maliki held in (June 19, 2011), his willingness to create all the supplies to replace the Iraqi currency.

The Iraqi Central Bank was established as a bank independent under the law issued on the sixth of March of 2004, as an independent body and is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as regulate the banking sector to promote a competitive financial system and independently.

http://www.alsumarianews.com/ar/iraq-business-news/-3-28598.html

[pspencer]

2013..... Really? That's a lot longer timeframe than anyone has stated around here..... 2013???

[krome2ez]

2013..... Really? That's a lot longer timeframe than anyone has stated around here..... 2013???

and the currency exchange will be at the beginning of a new year and new budget for the Iraqi state, “expected to” be the currency exchange in the new fiscal year for 2013. “

IMO, this means they will begin 2012 and have complete 2013.

I could be wrong.

My Ex says I was wrong quite a bit.

[behaviorkat]

This could be referring to the pulling out of the larger notes, such as destroying the actual bills. They will start to do this in 2013.

I am hoping this is an accurate translation, but I am not sure with the budget schedules.

If correct, then we would have about a year to cash in. ~ IMO

[spicolly]

Wait...Okie said it was done and the RV already took place. Dammit, now I gotta go beg my boss to give me back my job for one more year.

[DayTrader]

If you are looking for CBI to come out and tell everybody their financial road map, you're in a fantasy land with gumballs and fairies. Not that there is anything wrong with that So Says...................DayTrader

[abutchbaker]

That means no RV until 2013............

[easyrider]

That means no RV until 2013............

that is not what it means its means the completeion of the deletion of three zeroes.. Also think about if they waited till 2013 and did nothing inflation would kill them. This means thr Rd process will not be complete till 2013 this is good news. Now the big ? is now what do they do to curb the rapidly rising inflation??

Edited September 24, 2011 by easyrider

[NonLinear]

and the currency exchange will be at the beginning of a new year and new budget for the Iraqi state, “expected to” be the currency exchange in the new fiscal year for 2013. “

IMO, this means they will begin 2012 and have complete 2013.

I could be wrong.

My Ex says I was wrong quite a bit.

Certainly appears to be sound logic!

Ha! Ha! You might want to call your ex and ask HER! I can relate yet no 'ex' yet!

If you are looking for CBI to come out and tell everybody their financial road map, you're in a fantasy land with gumballs and fairies. Not that there is anything wrong with that So Says...................DayTrader

Agreed!

Ha! Ha! I like the idea of 'fairies' and mother nature [thought I would clarify that a bit]!

[DinarBot]

If you are looking for CBI to come out and tell everybody their financial road map, you're in a fantasy land with gumballs and fairies. Not that there is anything wrong with that So Says...................DayTrader

DinarBot likes Human known as DayTrader. DayTrader knows the game. DinarBot says 2.14 IQD = 1 USD, 4.5 weeks or less. DinarBot says put Down gumballs and fairies.Pick up Meat Potatoes and Lambs Navy Rum.

Edited September 24, 2011 by DinarBot

[Carrello]

If you are looking for CBI to come out and tell everybody their financial road map, you're in a fantasy land with gumballs and fairies. Not that there is anything wrong with that So Says...................DayTrader

Does that mean I can put the flex straw and the Chardonnay away?

[Alex38]

Does that mean I can put the flex straw and the Chardonnay away?

Bwahahahahahaha!!!

[Elixirbaby]

DinarBot likes Human known as DayTrader. DayTrader knows the game. DinarBot says 2.14 IQD = 1 USD, 4.5 weeks or less. DinarBot says put Down gumballs and fairies.Pick up Meat Potatoes and Lambs Navy Rum.

Me like what dinarbot has to say.

Go rv.

[DinarBot]

Me like what dinarbot has to say.

Go rv.

A Fine Young Canibal knows his meat.

[carlablum]

and the currency exchange will be at the beginning of a new year and new budget for the Iraqi state, “expected to” be the currency exchange in the new fiscal year for 2013. “

IMO, this means they will begin 2012 and have complete 2013.

I could be wrong.

My Ex says I was wrong quite a bit.

I am thinking the same way as you after reading down a bit.

Go RV!!!!!!!!!

In the view of some economists that Iraq is poised at the present time 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.

Read more: http://dinarvets.com/forums/index.php?/topic/85160-cbi-confirms-the-deletion-of-zeros-and-the-currency-exchange-in-2013/#ixzz1YtFOTXxd

[Darren77th]

He is talking about modeling what they want to do after what Turkey and Romania did. That is not good. I think I agree with Krome2ez on his assessmen that it will be completed by 2013 but started very soon. They keep coming out with these R/D articles. I sure wish they would throw out something to give us investers hope. It really sucks that after all the money and lives that have been lost to build this country up that they are planning on screwing us over like this. It ppisses me off

[br_dinar]

I think that means that it will be completed in 2013! They will start the process sometime this year or at the begining of 2012! When they start distributing the lower denoms they will have to have a new rate!

[StopdaBS]

that is not what it means its means the completeion of the deletion of three zeroes.. Also think about if they waited till 2013 and did nothing inflation would kill them. This means thr Rd process will not be complete till 2013 this is good news. Now the big ? is now what do they do to curb the rapidly rising inflation??

You can sugar coat it all you want to easyrider you just can accept the fact that it won't happen for a couple more years just like all the other guru's. Just put this to rest it is not going to happen for a while. Do you really think that if this were gonna happen any time soon the US would be stressing over how to balance the budget and get the US back on track financially ? This is just common sense. Stop trying to give false hope when you know good and well it's not happening anytime soon. See you guys in 2013.

[rapidrex]

that is not what it means its means the completeion of the deletion of three zeroes.. Also think about if they waited till 2013 and did nothing inflation would kill them. This means thr Rd process will not be complete till 2013 this is good news. Now the big ? is now what do they do to curb the rapidly rising inflation??

RV

[eddiemac]

You can sugar coat it all you want to easyrider you just can accept the fact that it won't happen for a couple more years just like all the other guru's. Just put this to rest it is not going to happen for a while. Do you really think that if this were gonna happen any time soon the US would be stressing over how to balance the budget and get the US back on track financially ? This is just common sense. Stop trying to give false hope when you know good and well it's not happening anytime soon. See you guys in 2013.

Get a freakin clue, you think they"ll keep on selling Dinars for another year or so? No way, it"s either S**t or get off the

pot, I worry about too much Dinar in speculators hands already,

[StopdaBS]

Get a freakin clue, you think they"ll keep on selling Dinars for another year or so? No way, it"s either S**t or get off the

pot, I worry about too much Dinar in speculators hands already,

Yes I do think they will keep selling them. Thats what is keeping their country alive right now is the sale of dinars. Then when they are ready to rd or rv they will exchange the larger notes at the rd rate 25,000=25 at say .86 as they have stated remove the zereos so a 25,000 note will be worth 21.50. Now if you are holding smaller denoms you might make a few bucks 250 note will equal 215.00 but you also pay more for it.

[CTS-VwithRV]

If you are looking for CBI to come out and tell everybody their financial road map, you're in a fantasy land with gumballs and fairies. Not that there is anything wrong with that So Says...................DayTrader

On the other hand if you are looking at scam artists and con men for your financial road map you are in a worse place than fantasy land.

So do we believe the CBI... OR do we hang on every word that Okie, Tony, SteveI, Dan, and all the other liars on the topic?

[Dalite]

Get a freakin clue, you think they"ll keep on selling Dinars for another year or so? No way, it"s either S**t or get off the

pot, I worry about too much Dinar in speculators hands already,

Unfortunately, they will continue to sell Dinar as long as it is worth their while to keep getting interest free loans and increasing their foreign reserves.

They have gone from zero to $58 billion in their Foreign Reserves since 2003, and none of it came from the bottom of a CrackerJack box.

[donnydoright]

On the other hand if you are looking at scam artists and con men for your financial road map you are in a worse place than fantasy land.

So do we believe the CBI... OR do we hang on every word that Okie, Tony, SteveI, Dan, and all the other liars on the topic?

Plus one for this....The Pumpers on this forum will talk all day about how it'll RV and smoke screens but when it comes down to REAL information, everything they stick to is strictly from the GURU's

[Redhorse]

Get a freakin clue, you think they"ll keep on selling Dinars for another year or so? No way, it"s either S**t or get off the

pot, I worry about too much Dinar in speculators hands already,

I agree. Too many Dinar in circulation is not to our advantage or a good thing fo Iraq, with their inflation going off the hook. They

have to RV very soon.