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zul

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About zul

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  1. And.......Convertibility! (IMF article 😎😀
  2. Great discussion everyone. But first of all, there is no million dinar note. So what this guy is saying is what we have known all along.....that the deletion of zeros will turn trillion to billion, billion to million, million to thousand.....and so on. He is not talking about anything specific to the currency notes....., just delete 3 zeros in general
  3. Can anybody smell GCC single currency......😉? Or is it just me. The motivation for the formation of the GCC was a desire to have common market and economic integrations...and with it ~ a single currency. I've been guessing Iraq is the missing link they have been waiting for.....
  4. zul

    CBI News 10/09/2018

    Firstly, deletion of 3 zeros ~ to restructure their currency is not a propaganda. Why would CBI do that? Secondly, we have not seen (specimen) or read anything (delivery of printed notes) of 25k or 10k notes. Thirdly, even if they are printing NEW 25k and 10k notes, and even the after deletion of zeros, please do not forget that by and large, majority of Iraqi citizens are still a cash society. 80% of them (or there about) are still without bank accounts. So the need for large denominations will continue to be in demand, although much much less. Eg. To pay for wedding receptions in a 5 star hotel. Or to pay for a downpayment for their new cars or new houses.....and so on. So just relax and enjoy the news, we are still very much in the game.
  5. zul

    CBI News 10/09/2018

    90 billion dinars @ 1190 per dollar = 75 million dollars. From another news ~ " Since 2003, Iraq has been printing its currency in the UK by Delarue. There is no official data on the cost of printing Iraqi banknotes. However, the overall cost of printing a banknote in Britain is 7 US cents in 2010 and perhaps The cost today is 10 cents". We can now figure out (roughly) how many pieces of banknotes Iraq printed recently (Re: 1k, 500 and 250 dinar notes) 750 million banknotes!! That's a LOT of banknotes, if it just for the 'small' categories of 1k, 500 and 250 dinars, don't u think? Something I definitely brewing... Notes: I'm discounting the 25k and 10k notes becos up until today there's no spicemen on the NEW 25k and 10k notes (we have only been presented with the 1k, 500 and 250 dinar spicemen), no news & no mentions on the delivery of the said notes and becos they are not 'small categories'.
  6. Looks like there's more to this other than 1000, 500 and 250 dinar....that makes it "very smart because it accompanied high oil prices"
  7. zul

    CBI News 10/07/2018

    Clearly, 25k and 10k are not currency for small groups. These could be an error in reporting. At least I hope so.
  8. It was all over the news in 2015. And they are still talking abt it...... even now☺️
  9. If u guys remember SNB (Swiss central bank) and swiss franc vs euro, the language/posture Alaq is using is quite similar to that of SNB's. Late 2014 when many investors/speculators were speculating that SNB would unpegged franc from EURO, SNB denied strongly. In fact, on 12 January 2015, Jean-Pierre Danthine, the vice-chairman of the SNB, went on television and said: "We are convinced that the minimum exchange rate (refering to the peg) must remain the CORNERSTONE of our monetary policy." SNB was still buying Euros after they went on TV....and the investors believed/convinced the central bank would do whatever it took to maintain the peg and they backed off. But three days later, SNB did the exact opposite, that shocked currency markets all over the world. They scrapped the peg!! Thats what Central banks do. They will ALWAYS try to calm the market rather than stir it up. Alaq will never never say the dinar will rise in value.
  10. The maths is quite obvious, ~>No dollars on the street of Iraq, no counterfeit Iraqi dinar from Iran~ therefore no smuggling of USD to Tehran. If it is that obvious to us, it wld be even most obvious to CBI and Abadi.
  11. With all due respect sir....I simply cannot see the connections between SBA and the RV......my bad. When a country, any country (incl. Iraq) decides to borrow from IMF, they must agree to adjust their economic policies to overcome the problems that led them to seek funding from IMF in the first place. And these agreement (to adjust policies) are spelt out and agreed upon (by IMF and the country) are then documented in their MEFP for monitoring purposes. These are basically financial (fiscal) and economic issues, not monetary issues. Exchange rates, RV and devaluations are monetary issues and not part of 2016 SBA (MEFP). jmo....✌️
  12. Iraq has no choice but to investigate claims of fraud as advised by the UN. 10 days....what is 10 more days compared to the more dreaded "soon" "Kubiš, who heads the United Nations Assistance Mission for Iraq (UNAMI), called on Iraqi authorities to investigate claims of fraud in the election and "to adjudicate all appeals properly." On May 17, the UN called on Iraq to "immediately" investigate the claims."
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