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Nothing-Ventured

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  1. Morning....not sure if this was posted and don't have the time to see if it has been. This is from the MRI Banker's Guide website, dates March 5, with link to the full article from the Kurdish Globe http://www.mriguide.com/updates2011.htm Iraq: An article in "Kurdish Globe" informs that the Central Bank of Iraq plans to issue revalued notes of 50; 100 and 200 "new" dinars; which will be equal to 50,000; 100,000 and 200,000 of the old dinars. If true, this seems to indicate that the current 5,000; 10,000 and 25,000 dinars will continue to be used. As for the small denominations, the plans call for 1 and 2 "new" dinar coins, to gradually replace the current 1000 dinars notes. (Courtesy Kurdish Globe) ...................................05MAR12
  2. Found this on another site, but wonder if this is what the meeting is about. Article is from last year. REMINDER FROM 2010 Iraq and Chapter 7 Next UN Security Report Due No Later Than January 1st, 2012 ... Iraq and UN Report December: His Excellency the Minister for human rights to meet with a high-level Coordinator for missing Kuwaiti property ... from UN Security Council Fact Sheet Dated December 15, 2010: #6. Requests the Secretary-General to provide written reports on an ongoing basis to the council every six months, with the first report due no later than 1 January 2012, about the United Nations compensation fund, evaluating the continued compliance with the provisions of paragraph 21 of resolution 1483 (2003); and .. #8. Requests the Secretary-General to report and provide analysis to the Council on the usage and expenditure of the escrow account referenced in paragraphs 4 and 5 on an annual basis, the first no later than 31 March 2012, with the final report occurring three months after the transfer of any remaining funds retained for the purposes of paragraphs 4 and 5 to the Gov't of Iraq by 31 December 2016, unless otherwise authorized by the Security Council I do anticipate what the meeting was actually about...! And so we wait.....
  3. Hey CBR....that looks close, thanks for posting. Hopefully we can read what quietlearner found, that should confirm things better.
  4. Thank You QL....for what you are trying to do ;] Did you read it yet? If so, is it worth going to the effort of taking a picture and uploading it? You are awesome
  5. I am looking forward to what quietlearner finds out, but in the meantime I will upload the article again. I highlighted the dates in yellow, that I could make out. One is "2007", on the second line. Last line of first paragraph has the year "1947", and the ending is "2011/signature/11", which looks quite formal!
  6. TY..! You edited the reference to your post concerning the IMF..... but 1947 is a significant date for them, right?
  7. There are three Dates that I can read. One is "2007", on the second line. Last line of first paragraph has the year "1947", and the ending is "2011/signature/11", which looks quite formal!
  8. I don't think so....only because I can reconize arabic "numbers", just not the words. The numbers are different in this news release, such as in the second line, I think the Arabic numbers are referring to "2005". But I will go double check that. ;]
  9. I really didn't want to post this, and I understand the negs..! I am as frustrated as anyone in that we can't understand it, but I do hope that there is someone who might deciper it for us!
  10. Press Release - Central Bank of Iraq The article is in JPG format.. here's the link if anyone has the means to convert it to a word or text document.. http://sotaliraq.com/mobile-news.php?id=25946
  11. If anyone is interested, here are the Cliff Notes of that call: Frank and Delta CC 9-8-2011 Frank is speaking about some of last few days’ news – he speaks of the two videos we’ve seen the last couple days. Frank is waiting for Delta to come on and give report – Delta reports Frank explains the video from the other day on CNJT Explains he feels the rate will not stay at .86 for verylong – it will explode! Three hands – in hand number 1 – 1000 dinar – hand 2 – 1 Iraqidinar – 3rd hand – 1 USD Frank explains how this will NOT LOP!! Delta speaks; Delta welcomes back Frank E and Jan CBI website being down – speaks of the past holiday – cbi upand down – the NEW WEB SITE IS DONE – it’s being tested and prepped for being released!!! Warka bank – copyright 2010 CBI site during holiday – site was suspended – how can this be? How does it come back? Delta says they were testing the new site. Delta’s contact in CBI clearly heard from Shabibi that this would happen in SEPTEMBER!!! We just weren’t told what day in Sept. Speaks how their reserves went from $50 billion to $58 billion when site was up and down over holiday. But true reserves is around $250+ billion. The RV is confidential / classified – 2 books – 1 they show –1 they have the real numbers Article that came out today – Delta told us about a month ago – one came out today – about meeting that happened last Thursday! During Eid holiday. The financial committee met on Thursday withShabs and advisors for hours. Discussed theprocess / methods how to lift 3 0s; and that they all agreed how to go aboutthis!! The system HAS TO GO DOWN beforethe RV! On June 23, shabs had cbi tobegin the process and start the system. Every bank has their own stack of money of dinar. LDs are done – article June 23 up to 100dinar – done. Utube video is huge! Coming from outside Iraq. An official announcement. We are now being told this is our month. The have told us the rate starting out which is.86. old and new will co-exist. UTube video is huge! 2-3 years meaning they will have several RVs over 2-3 yrs explainsDelta. May take about 2 yrs to get backto where they were 20/30 yrs ago. But likely not to take even that long. They cannot enter Chapt. 8 w/o using ONE currency! Rate to likely go up first of 2012. Delta thinks possibly ONE YEAR to reach their old RATE strength/value. Frank speaks about that they have not only oil but GAS! Many other economic commodities... Frank thinks in 3 months another RV and in 6 months another and by end of 2012 first of 2013 another. 2004 was when CBI started using the USD for liquidity to start the auctions - the US helped Iraq – they bought /swapped money – this is how the US got the 20+ Trillion dinar Bluestar pipes in for a second Iraq to create special committees to track all people who do counterfeiting. To guard the old dinar so they cannot smuggle it out to then exchange it for /with the new rate! Franks speaks of a report from the financial committees that this has been done. Done a while ago – meeting resulted in an agreement of the mechanism and its impact on the economy. And they liked it! Yeah, it’s kewl, here’s our stamp of approval. Many articles in past couple months about the removing of the 3 Os! Frank thinks the process of lifting the Os is DONE. 11 articles about lifting 3 Os at least. Big pile telling us this is important that they have done it. Delta takes us back to June 23. CBI begins the restructuring their monetary policy. Completing this behind closed doors since then. Getting all banks up to spec and online and synced. Delta says yes, this is done! The article from today – can be up to two weeks old. A week ago this article that came out today was confirming what was done a week ago. Delta likes the insistence from the CBI saying this is going to get done. NO LOP! All the implementation of lifting the 0s is done! Today he said ALL THE PREPERATION TO RELEASE THE RV IS DONE! They will and have to report to the Parliament that they are done. Delta said his is SO Happy with this news! This is big! WE SHOULD BE VERY EXCITED! Someone outside of Iraq announcing the Iraq RV is going to happen! Frank says why did take a month and a half to announce this? CBI does not need approval to do an RV. However, they are not in control. In that article no mention about Parliament approval. They don’t need it. We now await the announcement of what has been completed behind closed doors! Shabib never mentions issues with the Erbil, the HCL, the GOI… he just wants security. Bluestar – Asks about the US leaving Iraq – Delta says we will always be there – biggest Embassy is in Iraq Security? Iran? Will this affect oil and thus the RV. After the revalue, no turning back it will only go up! Might take a while to reach 70s and 80s rate. Delta says we are in a WIN WIN situation! Iraq will not fail; the US andworld will make sure of this. Everyone needs Iraq to do well! There could be delays, but they will move forward. Eagle 1 – heard that central bank of US would be making amove with all the CBs for major move that would affect our economy. Delta – the meeting of all the CB heads is a huge indicator? Why did they all get together??? Are the meeting to discuss cheeseburgers? No, they are talking about money! Big money! LoL Frank – we are likely to see rapid fire publicity about theRV from now on until the RV Nadia comes on and reports to the family that her friend has seen the LDs at a bank and they are waiting for them to be put out. They said why do you want them? You can’t use them yet, but SOOM!!! WHOO! HOO! Delta just found a new article and posted it; by DELTA » September 8th, 2011, 9:43pm • http://english.cntv.cn/program/bizasia/%20...%204781.shtml Iraq in hyperinflation; currency to berevalued 09-08-2011 09:38 BJT While many Asian nations battle stubbornly rising prices, Iraq offers anexample of the extreme - hyperinflation, that is - inflation that has spiraledout of control. It occurs when there is an unchecked increase in the money supply. Iraq'scentral bank is planning to solve the issue by completely re-valuing its Dinar. In countries experiencing hyperinflation, the central banks often falls into avicious cycle - printing money in larger and larger denominations as smallerdenomination notes become worthless. One way to avoid the use of large numbersis by declaring a new unit of currency. Mudher Kasim, Vice President of Iraq Central Bank said, "Over the past 30years, inflation and economic intervention has caused the denomination of theDinar to continue to rise. But the exchange rate is so low that the highestdenomination is worth less than 25 dollars. Therefore, we need to carry outcurrency reform." While many Asian nations battle stubbornly rising prices, Iraq offers anexample of the extreme - hyperinflation. Iraq's central bank announced back in June that it would re-denominate theIraqi Dinar, removing three zeroes. The central bank says complete currency reform will take 2 to 3 years. Expertssay it won't be an easy task. Adnan Al Sady, an economic analyst said, "It is unfortunate that the Iraqimarket is unstable right now. Currency reform will have great impact on themarket. That's what we are worried about." Many residents are also concerned about what impact the change might have ontheir spending habits. Majeed Laftah, a resident in Baghdad said, "The sudden change of the Dinarmight cause problems. We hope that after the currency reform, we can still buythings like the way we did before." Right now, the highest denomination of Dinar is 25 thousand, and the lowest is250. One U.S dollar is equivalent to 1180 Dinars. DELTA
  12. Hey DD, like you, I hope this is a done deal soon also! It's so odd that the CBI site is still down and my thoughts are that once it comes back up, perhaps we will be in for a SURPRISE. Hope~Hope~Hope
  13. Yet another one....however...with the CBI being down, when I read this, it almost sounds like a DONE Deal...just saying ;] Monday, 05 September / September 2011 14:29 Hits: 18 . .User Twilight News / The Central Bank, on Monday, he sought to reform the Iraqi currency, which suffer from inflation in the monetary mass, indicating that the size of several trillion and reached a size comparable to U.S. monetary bloc. The deputy governor of the Central Bank of the appearance of Mohammed in an interview with " Twilight News "that" the Iraqi currency to suffer from inflation of several trillions and trillions of comparable size in the U.S. monetary bloc. " It is said that the Iraqi Central Bank revealed, earlier, that the new Iraqi currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency. Saleh explained that "the mass of U.S. monetary inflation because of the strength of the U.S. economy, but inflation, the Iraqi currency was due to the deterioration of the Iraqi economy." Economists and shows that the process of deleting three zeros from the Iraqi currency will lead to increased value and to increase the purchasing power of citizens, pointing to the need to follow the policies of peaceful citizens and to persuade them to get used for a period not exceeding two years. The Deputy Governor of the Central Bank, "the Bank seeks to reform the Iraqi currency by deleting the zeros and the issuance of coins of small and large are not exposed to damage quickly." The Central Bank of Iraq began to discuss amending the dinar categories last year, and is still a large part of the payments are in cash because of the evolution of the banking system. And between the head of the Iraqi Securities Commission, earlier, that the deletion of zeros from the Iraqi currency will not affect trading in the Iraqi Stock Exchange and its shares http://translate.google.com/translate?sl=ar&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.shafaaq.com%2Fsh2%2Fnews%2Feconomy-news%2F33337-2011-09-05-11-32-09.html
  14. Thanks Trooper "..In theory and when lifting (three zeros from Iraqi dinar), the purchasing power will rise to the U.S. dollar significantly to become one U.S. dollar equals (JD and a half) just so that the goods imported from abroad, worth before the lifting of the zeroes (1.2 million) Iraqi dinars, equivalent to ( 1000) U.S. dollars, will be worth after the lifting of the three zeroes (1200) Iraqi dinars, equivalent to (1000) dollars as well, and this will Igelb to remember any negative effects on the Iraqi citizen of the theory..." I f I understand this correctly, then I really hope this "theory" becomes a "fact"..SOON! What this is saying is....Before: 1,000 USD, equals 1.2 million dinars. After: 1,200 dinars, equals 1,000 USD..! Our 25,000 dinar would be worth approximately...$24,996.00 USD (if I did the math right). Lift--Delete--or, Raise the zeros...what a mystery!
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