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zul

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About zul

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    seconds away from nearest bank

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  1. zul

    Go Iraq Part 8

    Hope to see you back to your normal health again my friend, sooner. Take care.
  2. zul

    Go Iraq Part 8

    We are just 3 months away from the beginning of 2020 and I personally think this month is going to be of real significant..../ We have seen too many economic/trade agreements and MOUs being signed, too many statements and indications of moving towards market economy ~ something has to happen soon. Even the usual 'but-this-is-Iraq' is not going stop these changes.
  3. zul

    Go Iraq Part 7

    Not just me SM, but everyone else will there for u (the Broz and the cuzzs).........we'll take care of one another......u'l be in safe hands. 🍹
  4. zul

    Go Iraq Part 7

    Al-Ghalbi is describing a neutral event of deleting the zeros like what Zimbabwe, Zambia, Turki, Germany, Brazil ect......have done before. That's what deleting zeros really means ~ in general. We have to look at the situation of those countries, the problem that they faced when they deleted the zeros........ Iraq is diff......they did not lose their wealth (oil) during the war. The value of their currency went down (inflation) because of economic sanctions (chapter 7). When they replaced Saddam dinar in 2003, the value of dinar (IQD) were on the rise from 3000/1 to 1430(ish)/1 by Jan 2004. ( ref: Statiscal data of IQD exchange rate @ cbi.iq) Had CBI not put a brake then (because the value of dinar was rising too fast too soon ~ Read: Billions over Baghdad), I think the value of dinar wld have been 1:1 now (easily). Back to Al-Ghalbi statement above. Who is this guy? Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa. He is not from CBI......and he has a general view of what deleting zeros means, just like some of us here. So we wait for CBI.
  5. zul

    Go Iraq Part 7

    This is from 2012.......repeat 2012. CBI DID try to delete the zeros starting September 2012...(so it's not necessarily must-be-at-the-beginning-of-a-new year) To cut story short ~ sometime in Jun/July that year, there was major disagreement between Shab and Maliki....and the project was eventually postponed.... (the rest are history). // Parliament is a supreme committee with the central bank to start deleting the zeros 10/03/2012 Baghdad / term follow-up Formed the Economic Committee in the House of Representatives with the Central Bank of Iraq to a joint committee to begin the process of deletion of zeros from the local currency. Said MP Abdul-Hussein Abtan told the Kurdish news agency (Rn) that the Economic Commission formed a joint committee with the Central Bank of Iraq yesterday (Thursday) to oversee the process of deleting the zeros of the local currency Which is scheduled to begin in September next. "He added that" the Commission will provide the technical requirements and legal, administrative and paint the nature of the Iraqi market and its relevance to the deletion of the currency during the stage preceding the start delete currency as well as increase public awareness about the details of the process of removing zeros from the currency. " He pointed out that the central bank, "promised" that he could make a change of currency and delete zeros in order to "reduce inflation" in the country. And the parliamentary economic committee said it had agreed with the Central Bank of Iraq to begin a process of change in the local currency of next September. ~~~ In support of your (lmb4321) Sept timeline../
  6. zul

    Go Iraq Part 7

    I'll be packing in Sept.... Can't wait to see all the bros and cuzzs...
  7. zul

    Go Iraq Part 7

    I'm looking to the beginning of 4th quarter.....October. But here's to Sept...🍹 and Maui
  8. This is a clear indication/confirmation that he has nvr been idle. Britain would never have appointed someone who has been out of touch with monetary thinking......too risky. You could almost point a finger to the recent stabilization of Iraqi dinar exchange rate vs USD as his trademark......
  9. zul

    Go Iraq Part 7

    Remember my name. I'l cover ur back in Maui.....(if I'm sober)
  10. zul

    Go Iraq Part 7

    Bros r nvr down...
  11. Actually German went thru several 'revaluations', can't remember all but in 1961 and 1969, the intention was to kill the problem of 'imported inflation'.
  12. When a country redenominate or restructure their currency, process-wise ~ there's not much diff between lopping and revaluation. Both will come out with a new set of currencies ~ eventually replacing the old ones. Both currencies will co exist for a specified period of time....etc etc. The only diff is: lopping will have two diff exchange rate; one for old and one for new.... While revaluation ~ will have the same exchange rate for both old and new. So from the news, u can't really tell which way they will be going. Whatever they are planning to do with their currency, i hope they will factor in on how to make good the financial losses of the inflation and war, suffered by their people. (Note: German did that in 1961) * Some unfortunate Iraqis actually suffered financial losses when their bank accounts were frozen, and the gov took/used their money to fund the war.... While some others lost their money to inflations (caused by the war). And.........since they are moving towards open economy, i'm sure their monetary policy will not just focus on domestic behaviour (like from 2003 until now), but will be looking outward as well, taking into considerations foreign pressure and how it will affect their country and citizens. Deleting zeros is supposed to be something huge ~ bringing back glory and pride to the country Iraq. I just don't see that much glory if they are planning on a neutral event. That's why I'm still on this crazy horse.
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