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alan_coaks_3
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Posts posted by alan_coaks_3
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Alan, that article is 3 days old, yet you changed the date purposely to apply as a supposed rebuttle to a article that came out today. Why did you change the date? Why did you bring in that article at all? There was also a article a couple weeks ago that used the word "revalue." That's also not from today but you chose not to bring that one in. Why not just say "thank you Carello for bringing in the article?" Are you capable of that? I've never once seen you thank someone for contributing.
lol there you go again DocDinar i post something new to the forum not even posted at all and the first thing that comes out is its 3 days old but yet other post stuff years and months old and they get WHAT A GREAT ARTICAL THANKS FOR FINDING IT. mybe your just mad because this can actually become and outcome of this speculation.
i dont see anyone else here saying on anyone else post saying this is 3 day or so old.
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7 - 18 - 2012
After much deliberation, the Iraqi government announced that, beginning in 2013, they will begin removing three zeros from Iraqi banknotes. The change will take three years to complete. Despite economic experts staying Iraq is not ready to change its banknotes, the Iraqi Parliament and the Finance Committee both support the decision to redenominate the currency.
Iraq’s currency, the Iraqi dinar, currently has its smallest unit set at 250 dinars, the equivalent of only $0.20. The Central Bank of Iraq is going through the efforts to remove the zeros in order to redenominate the Iraqi dinar. MP Hassan Ozman of the Iraqiya List believes that this will work for Iraq and benefit the economy due to the measures’ success in other countries. Ozman also said that security measures would be taken to distinguish genuine notes from fake ones.
Despite broad support for the decision to change the banknotes, there are some opponents to the move. Ahrar bloc MP Abdul Hussein believes that current economic conditions, including the lack of reforms in the banking sector, make it premature to change the banknotes.
Despite the predicted salutary effects on the Iraqi economy, the experiences of other countries indicate that issuing the new currency may in fact be unwise. For example, Brazil reissued currency numerous times throughout the last decades of the 20th centuries. The constantly changing value of the currency caused families a great deal of suffering as they saw the value of their savings constantly being depleted.
The Iraqi dinar is a controlled exchange-rate currency. The IMF permits countries with “transitional” economies to control their exchange rates. However, the dinar is not traded on any foreign exchange markets. Instead, it is bought and sold by licensed currency dealers handling existing banknotes.
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Ask yourself why this thread has now come to this. Who is responsible? Try to answer that question honestly. Are you here to contribute or are you here to cause strife? I will no longer continue this conversation with you. It's detrimental to the room and I for one, care about the room.
lol there you go blaming someone else for what you started and telling it was really there fault. i simple posted and then you said " No, that is what YOU are saying!!" so you tell me who started it ?
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Unfortunately for all of us, that is true. Adam Sandler will continue to make movies and my neighbors dog will never shut up. That's life for you.
Thanks for taking what should have been a very uplifting thread for all of us and making it about what you can do and what we can't stop. Very sad.
sounds like you got a personal problem you need to get over
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I looked and looked and could not find the word after. Did you just make that up or do you have a direct line to Saleh and Shabs.
If you do please share with the rest of us. We all know how you feel about this, no real reason to keep stating your opinion over and over and over.
Don't give up Alan, keep the faith. We still love you.
as long as i am here and i own dinar i will continue to post on every single artical and post. and there nothing anyone can do about
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No, that is what YOU are saying!!
"The zeros are removed for the purpose of increasing the value of Iraqi Dinars in a way that one Iraqi Dinar will be equal to one US Dollar," they are saying the zeros have to be removed so that the dinar will increase in value
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IMHO by all the articals coming out the for years about taking the zeros are all true it just a matter of when they do it . they Will RD then after that there Currency will Grow to 3.00 mark within the 10 year mark after the new currency comes out
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if you want examples of currency replacing you should all look at other countries that took off 3 zeros from there currency and how they exchanged there currency cuz that is what iraq will do.
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DaveD great examples, i also have looked and done some research and found out the same things
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7 - 16 - 2012
Member of the parliamentary Finance Committee revealed Majida Al-Tamimi "Cabinet Secretariat DED announced wait delete the zeros to 2014 because the environment is ripe for deletion.
Tamimi stated in a special correspondent for the news agency news (and brother) that "there are a series of steps to produce a high-quality currency and to take measures to reduce counterfeiting of currency quality. "There is a majority in favour of the Finance Committee in the process of issuing currency await new up to take action
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7 - 16 - 2012
Member of the Finance Committee said the National Alliance MP//Magda El-Tamimi, host Finance Minister in the House of representatives in the coming days to learn why wait tariff law, noting that its determined to apply this year.
She said Al-Tamimi (News Agency news): tariff Act was postponed twice this year by the Federal Government, noting that the first postponement in February last year was the result of not raising citizen how to apply in addition to the relevant government institutions are not eligible for application of the law, has been postponed to the end of last June.
She added: a book is sent by the Federal Government to House demanding the postponement a second time to act without knowing the real reasons, the Minister of finance will be hosting and some government officials in the coming days in the House, specifically in the economic and Financial Committee to explain why wait to act.
Noted: that many people did not know how to implement the law, making a fear of its application, customs duties will be levied only on unnecessary materials and industrial goods that Iraq could have produced to activate economic sectors such as industrial, agricultural, because local industry don't do without tariffs.
Reported: that Iraq is required to diversify income and not rely on oil to avoid global crises (such as falling world oil prices or close the Strait of Hormuz) and this comes through the Customs and economic sectors in the country.
The Ministry of Finance announced in March last year on 1 June as the date for the tariff regime in Iraq after being postponed twice, saying "this time nobody to postpone work system", in June last year the Government announced the postponement of the application of the customs tariff law for reasons described as artistic boundary not to create customs services to implement the law.
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if they exchange are old notes at 1000 to 1 ur 25k note will be 25 in the new dinar
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That's not honoring the zero's. They LOPPED. If they honored the zero's you would get the new exchange rate applied to your old 25,000 Dinar note. You would get a thousand new 25 Dinar notes for example.
no.
they will honor the zeros on our notes
if it is our old 25 k notes will still be worth 25k but they will say it will take 1000 old dinar for 1 new 1 so it will be 25 . there are if u count to 1000 25 times it will equal 25 k
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A/C/3,
How did "N" adjust stock portfolio values?
Fuel price per litre N70 70 kobo Price of one bag of garri N2,000 N20 Price of a bus drop N20 20 kobo House rent (e.g. a flat in some parts of Nigeria) N5000 per month N50 per month Stock price of a company Assume it is, say:
N20 or N80
20 kobo or 80 kobo Airline ticket for domestic flight N12,500 N125 Exchange rate: N to US$ Assume it is say:
N125
Or N130
Or N100 to US$1.
N1.25 = US$1
Or N1.30 = US$1
Or N1 = US$1
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A/C/3,
How did "N" adjust stock portfolio values?
to be honest with you i don't know what will happen to stock portfolios. all i do know is that everything changes when currency RD everything changes over night
assets and liabilities and prices, fees, rents, and contracts (including salaries and wages)
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Sorry A/C/3,
I have a problem wrapping my head around your facts(theory). What your suggesting will wipe out retirement acounts as well as screw up stock holdings. Can you explain how your presentation would preserve Iraqi's and investors hard earned individual Dinars? Thanks....
that is exactly what i am saying what ever u have in ur bank account will be reduced to the new amount
How will it work? when they took 3 zeros off there currency nira currency RD too and they did this to everyone bank accounts . if you have N50,000 in your bank account, it will automatically become N500 in the ‘new Naira’
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Wow! Here we go again!!!! More opinions stated as absolute fact!! Nothing more to learn in this topic. See Ya!!!!!
The authorities may alleviate this problem by redenomination: a new unit replaces the old unit with a fixed number of old units being converted to 1 new unit. If inflation is the reason for redenomination, this ratio is much larger than 1, usually a positive integral power of 10 like 100, 1000 or 1 million, and the procedure can be referred to as "cutting zeroes"
Actually if you do some research about Removing zeros or RD they will exchange the old notes at a rate of integral power of 10 like 100, 1000 or 1 million. not my opinion its fact
if you look at all the other currency this happen to they honord all the notes with the zeros but they were like 1000 or million per 1 new note
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If they ignore the zero's on the old notes and move the decimal to the left 3 places from .00086 to .86 (lop). It all comes down to whether or not the zero's on the old notes will be honored or not.
I think the rate will go out of control and may plummet if they choose to lop. You're not increasing buying power and confidence is lost in the currency. Part of the reason it hasn't collapsed so far is the fact that many speculators are buying it.
they will honor the 0s on the old notes but they will exchange at a rate of 1000 to 1 most likely so ur 25k will be 25 now
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Studies ? i don't see that word in this whole artical at all. My link
Mahma Khalil, Member of the Iraqi Parliament and official spokesperson of the Economic Committee & CBI Governor Dr. Sinan Al Shibibi had a meeting saying that According to the agreements the exchange rate between the new banknotes and the old ones would be 1:1,000.
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Redenominate - dropping zeros enhances book-keeping and reduces the drudgery in transactions, record keeping and banking activities.
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Iraq Decides to Redenominate Currency
in Iraq & Dinar Related News
Posted
no i don't hold any dinar what is a dinar ?