jupitergirl

When a public company deems there shares to be undervalued they take there cash and buy back shares to add value to the current shares outstanding. Does any one know if this is the same concept used with central banks? I know you all know where I am going with this. We have all heard rumor that the cbi is buying back dinar....i know there is no proof but if the cbi bought back 20 - 25 billion usd worth of dinar at 1166 it would add value to the dinar left outstanding. This would bring there reserves back to where they were about 2 years ago and give them more purchasing power. So does anyone know if this is a practice of the worlds central banks? Thanks.....JG

BREAKING NEWS…Maliki: the autocratic ruling party theory is over 29/03/2012 16:00:00 Baghdad (NINA) – Prime Minister Nouri Al Maliki stressed that the autocratic ruling party theory is over. In a statement Maliki recited in the Arab Summit today "Iraq proved success in three peaceful power transfer. /End/ http://www.ninanews.com/english/News_Details.asp?ar95_VQ=FKJJFJ

My bad...honest mistake. The bright side is iraq has been averaging about $6 billion usd a month for a while since they have gotten off many un sanctions, major dedt reductions, a democratically elected gov. ( kinda ), more money from imf and world bank ( which means there are rules to follow ), 60 billion in cbi coffers up from about 20 billion in 2009. How bout they take 20 billion of that 60 bill and retire all large denoms...revalue at a buck! What do you think?

Read the link at bottom of page it goes over all of this.

long read....go to bottom of page real exchange rate 292 = .03 alot has happened between now and the end of 2009! Here is IMF PIN 10/34 http://www.imf.org/e...2010/pn1034.htm IMF Executive Board Concludes 2009 Article IV Consultation with Iraq Public Information Notice (PIN) No. 10/34 March 1, 2010 Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies. With the consent of the country (or countries) concerned, PINs are issued after Executive Board discussions of Article IV consultations with member countries, of its surveillance of developments at the regional level, of post-program monitoring, and of ex post assessments of member countries with longer-term program engagements. PINs are also issued after Executive Board discussions of general policy matters, unless otherwise decided by the Executive Board in a particular case. On February 24, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Iraq.1 Background The Fund has been closely engaged with Iraq since 2003. Initial work focused on providing policy advice, mainly on monetary and fiscal policies, and technical assistance to rebuild essential economic institutions. In September 2004, the Fund approved Emergency Post Conflict Assistance for Iraq, which—in combination with a debt sustainability analysis—paved the way for an agreement with Paris Club creditors. Since then, Iraq successfully completed two precautionary Stand-By Arrangements whose main objectives were to achieve macroeconomic stability; promote growth; and continue the process of structural reforms. Substantial progress has been made since 2003, despite the difficult security situation. Inflation has been reduced to single digits, the international reserves position has improved markedly, and direct fuel subsidies were eliminated, while the pension system was put on a sustainable footing, which created room for priority spending on investment and the social sectors. Several steps have also been taken to strengthen public financial management, improve transparency in the oil sector, and rebuild capacity at the central bank, and the authorities have initiated the restructuring of the two largest state-owned banks. In addition, important advances have been made in attaining long-term debt sustainability. In 2004, Paris Club creditors agreed to reduce Iraq’s external debt by 80 percent in net present value terms. Also, bilateral debt agreements with several non-Paris Club creditors have been concluded, although this process is yet to be completed. Iraq’s economic performance was strong in 2008, aided by record oil prices and improved security. Oil production rose to 2.3 million barrels per day (mbpd), the highest level since 2003. As a result, real GDP is estimated to have grown by 9½ percent in 2008, up from 1½ percent in 2007. Crude oil export receipts reached $61 billion in 2008—65 percent higher than in 2007—and the current account recorded a large surplus. The government budget registered a lower-than-expected surplus of 1½ percent of GDP in 2008. This reflected a significant increase in government spending that more than offset the higher-than-budgeted revenues. This increase in government spending reflected in part a large wage adjustment to compensate for the erosion in real wages that had taken place in previous years. Following the strong economic performance in 2008, more recently the Iraqi economy has been seriously affected by the drop in oil prices from their peak levels in mid-2008. Also, oil production and export volumes have not risen as much as planned due to insufficient investment; production reached 2.4 mbpd. As a result, Iraq’s external position weakened in 2009, with oil export proceeds falling to $39 billion and both the external current account and the overall balance of payments shifting into large deficits. With oil export receipts accounting for about 85 percent of government revenues, the lower oil prices had a similar impact on the government’s budget, which is estimated to have recorded a deficit of over 20 percent of GDP in 2009. The CBI’s international reserves fell by almost $7 billion in 2009, to about $44 billion by year’s end, reflecting the use of government deposits at the CBI to finance the budget deficit. Growth is estimated to have slowed to 4 percent in 2009, even though oil production improved towards the end of the year owing to efforts to address infrastructure bottlenecks. Iraq’s longer-term economic outlook is strong as oil prices and production are projected to increase markedly in the coming years. However, based on conservative oil price assumptions, the external current account and the overall balance of payments are expected to remain in deficit in 2010 and 2011. Similarly, Iraq’s fiscal position is projected to record significant, albeit declining deficits in both years, before returning to a surplus position in 2012. Financing the budget deficits in 2010–2011, would require additional financial support to fill a financing gap projected at almost $5 billion, even after mobilizing substantial amounts of domestic financing and utilizing the recent SDR allocation amounting to the equivalent of about $1.7 billion. Against this background, the authorities have designed an economic program for 2010–11 that aims to maintain macroeconomic stability during the period of political transition (parliamentary elections are scheduled for early March 2010) and deepen structural reforms, particularly in the areas of public financial management, the financial system, and oil sector transparency. In support of this program, the authorities have requested a new Stand-By Arrangement from the IMF in the amount of SDR 2,376.8 million (about $3.6 billion). This amount, together with disbursements from the World Bank under a Development Policy Loan and support from some donors, is expected to cover the financing gap for 2010–11. An important objective of the authorities’ fiscal program is to contain current spending in order to gradually reduce the budget deficit and make room for additional investment. Specifically, current spending in both 2010 and 2011 will be kept broadly unchanged in nominal terms at 2009 levels. At the same time, given the urgent need to improve infrastructure and basic public service delivery, a significant increase in capital spending is planned for 2010, following an underexecution of the 2009 capital budget due to administrative capacity constraints associated with security incidents that affected the Ministry of Finance towards the end of the year. Monetary and exchange rate policies will continue to aim at keeping inflation low in 2010 and 2011. Executive Board Assessment Directors commended the Iraqi authorities for the progress in rebuilding its economy under extremely difficult security and political conditions. While the medium-term economic outlook remains favorable as oil prices and production are expected to increase in the coming years, major challenges lie ahead. Large fiscal and balance of payment gaps are projected for 2010 and 2011, caused by the lower oil receipts and infrastructure bottlenecks. Directors also noted considerable risks associated with security problems, oil price volatility, and capacity constraints. They welcomed the authorities’ strong commitment to consolidate macroeconomic stability and advance the structural reform agenda, particularly in the areas of public financial management and the banking sector. Directors underscored the importance of steadfast implementation of the economic program, which would help unlock much needed resources from other donors and multilateral development banks. Directors considered that the 2010 budget, based on conservative oil price assumptions, is consistent with the program’s objectives. They highlighted the need to contain current spending, in particular through rationalizing the government wage bill and streamlining the in-kind Public Distribution System and transfers to state-owned enterprises. This would create room for targeted social safety nets and for essential investment and reconstruction projects, including improving public service delivery and infrastructure in the oil sector. Directors encouraged further reform efforts aimed at improving budget preparation and execution through developing a medium-term budget framework, and broadening the revenue base by introducing a general sales tax. Directors welcomed the authorities’ continued commitment to strengthen governance and improve transparency in the hydrocarbon sector. Completion of the oil metering system would help facilitate the full reconciliation of oil flows with financial flows between the state-owned oil companies and the budget. Directors congratulated Iraq on becoming a candidate for membership in the Extractive Industries Transparency Initiative. They encouraged the authorities to establish a successor arrangement for the Development Fund for Iraq with the similar standards of transparency and accountability. Directors supported the central bank’s objective of aiming monetary and exchange rate policies at keeping core inflation in single digits. They called on the authorities to remove the remaining exchange restrictions under Fund jurisdiction. Directors also encouraged the central bank to fully implement the recommendations of the previous safeguards assessment and looked forward to its update. The need to preserve central bank independence was particularly emphasized. Further steps are necessary to strengthen reserve management, banking supervision and prudential regulations, and the AML/CFT framework. Directors welcomed the authorities’ good-faith efforts to conclude debt agreements with the remaining official and private creditors. They encouraged the authorities to continue to work with non-Paris Club creditors, with a view to securing debt relief on terms comparable to those of the 2004 Paris Club Agreement. While welcoming Iraq’s participation in the General Data Dissemination System, Directors called for continued efforts to improve the quality, coverage, and timeliness of macroeconomic statistics. Iraq: Selected Macroeconomic Indicators, 2007–10 2007 2008 2009 2010 Est. Proj. Oil and gas sector Total exports of oil and gas (in billions of U.S. dollars) 37.7 61.7 38.9 48.4 Average crude oil export price (in U.S. dollars/barrel) 63.0 91.5 56.5 62.5 Crude oil production (in millions of barrels/day) 2.0 2.3 2.4 2.6 (Annual percentage change) Output and prices Real GDP 1.5 9.5 4.2 7.3 Non-oil real GDP -2.0 5.4 4.0 4.5 Consumer price inflation (end-of-period) 4.7 6.8 -4.4 6.0 (In percent of GDP) Investment and Saving Gross domestic investment 19.8 28.1 28.1 31.5 Of which: non-government 4.1 2.0 3.7 4.1 Gross national savings 32.5 43.2 8.7 10.5 Of which: non-government 7.1 15.4 11.3 2.9 (In percent of GDP, unless otherwise indicated) Public Finances (cash basis) Government revenue (including grants) 83.7 84.3 76.5 75.4 Of which: Oil revenue 74.0 77.6 68.0 67.0 Expenditure 74.0 82.6 99.0 94.5 Of which: Current 57.7 56.4 78.4 67.0 Of which: Capital 15.6 26.1 24.4 27.5 Budget balance (including grants) 9.7 1.7 -22.6 -19.1 Primary fiscal balance 10.5 2.2 -21.7 -18.0 Non-oil primary fiscal balance -53.4 -64.7 -78.7 -74.2 Total government debt (in billions of U.S. dollars) 103.1 95.6 90.2 33.8 (Annual percentage change) Monetary Sector Base money 73.9 54.5 0.1 13.5 Currency issued 31.2 36.3 13.4 15.2 (In billions of U.S. dollars, unless otherwise indicated) External Sector Merchandise trade balance 13.4 20.8 -1.9 -2.4 Exports of goods 37.8 62.0 39.3 48.8 Imports of goods 24.4 41.2 41.3 51.2 Current account 7.2 13.1 -12.8 -16.8 Current account (in percent of GDP) 12.7 15.1 -19.4 -21.0 Total external debt (in percent of GDP) 181.0 110.5 137.1 42.1 Central banks gross reserves 31.5 50.2 44.3 44.0 In months of imports of goods and services 7.7 11.9 8.5 8.1 Memorandum Items Nominal GDP (in billions of U.S. dollars) 57.0 86.5 65.8 80.3 Local currency per U.S. dollar (period average) 1,255 1,193 1,170 ... Real exchange rate 1/ 280.7 342.5 292.0 ... Sources: IMF staff estimates and projections. 1/ Calculated as the nominal exchange rate adjusted for the inflation differential between Iraq and the United States. Increase in the index denotes appreciation. 1 Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board. At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country's authorities. An explanation of any qualifiers used in summings up can be found here: http://www.imf.org/e...qualifiers.htm. IMF EXTERNAL RELATIONS DEPARTMENT Public Affairs Media Relations Read more:

Roadrunner and Saint......this has been floating around the sites for 2 years....it could be all made up as far as I know. It is a good read though. Kinda delivers " The Plan " in a well presented way.

Ask about lack of large denoms in the streets and if people are being paid in old small denoms please!!! Thanks!

They have not been right yet. We dont need a guru to tell us what the cbi has been telling us for months.......something is gonna happen....now they are telling us when.....sept 2012-jan 2013. That is when we will find out if rv or rd. Wow I gave you a date....hope I am not a guru...lol.

Economist Explains How The Plan To Have The IQD RV at 1 IQD = $1 USD Should Work! __________________________ Thursday, April 22, 2010 9:13:47 PM In our 40+ year career as a Retirement Consultant we have been blessed to meet some very talented professionals. One of them is a retired State Dept. economist who introduced us to the IQD investment in 2005. He had worked on the original plan to install a new monetary system for Iraq after the 2003 invasion. He had originally indicated that the plan was for the IQD to achieve financial parity with the USD over a 7-10 year period from the introduction of the new system. At that time the USD’s use would be completely discontinued and it would be replaced by the IQD for in-country use and international exchange. The variable factor in the timetable would be the political environment. I visited with him recently and got an update on several issues: (1) He indicated the original time table was proceeding on a fast track due to the financial management skills exhibited by the CBI and the Finance Ministry in (1) controlling the rate of inflation, (2) controlling the value of the IQD in a declining economic environment and (3) implementing a digital banking system both internally and externally, but the variable was still the political environment. Like most economist he doesn’t talk in absolutes (i.e. rate/date) but in probabilities. His knowledge base is pretty current since he is still part of a subsection of the original group that Iraq, State Department and IMF financial people bounce things off of. (2) We raised the issue of the large number of IQD reported as being in circulation (current estimates are at 25 Trillion). He indicated this was mostly made up of (1) in country physical currency, (2) the foreign currency reserves of the central banks around the world which are electronic, (3) currency that had been printed but not released (i.e. small denomination bills) and (4) privately held physical currency sold to increase the foreign currency reserves. The export oil revenues are still under the control of the UN supervised DFI, and Iraq only gets roughly 30% of the fair market value of the oil they are selling, which is to be used only for budgetary expenditures. Since Shabbi, the head of the CBI, knew he couldn’t get anymore cash flow out of the controlled revenue system the IMF/UN had him under, he opened a currency sales window at the daily auctions to tap into the wallets of the worlds speculators. Worked pretty good, since he’s built his foreign currency reserves to over $50 billion USD. (3) We then moved to the removal of big bills (the ones with the 3 zeros on them) and he said that this activity was always built into the plan. The activity was to begin as soon as Iraq had implemented a modern digital financial system (i.e. bank branches, credit/debit cards, ATM’s, direct wire transfers etc.). The removal of the large bills in-country would be the reverse of the process that was used to remove the pre-2003 currency with Saddams picture on it. The example was a 25,000 IQD=$25USD/pre-rv note would be brought into the bank and exchanged for a 25 IQD note=$25 USD post/rv. The 25,000 IQD note would then be destroyed removing it from the currency in circulation account. I told him a lot of people would call that a LOP and he laughed, saying they are partially right, because 25,000 IQD was being lopped from the currency in circulation account, but the only reason for this process was to improve money handling ability at all organization levels, and reduce the actual physical currency in use in all areas of the Iraq economy. Interestingly enough, he said this activity could happen in-country without an approved RV rate being released to the International financial system. I asked how much physical IQD did he estimated was in circulation in-country, and he said probably less than had been originally introduced in 2003 which was about $4.5 billion USD worth at an exchange rate of 2000 IQD = $1 USD, because there has been a continuous process of not replacing the larger bills as they wore out. In fact this has resulted in currency shortages in some areas. (4) The next obvious question was how would the removal of the large bills with the three zeros work outside of Iraq, because of the number of world speculators holding IQD. He indicated, the amount of IQD held by speculators was relatively minor (less than 10%) compared to the IQD held as foreign currency reserve by the central banks of a number of major countries (US, China, England & France were the largest) with major financial interest in Iraq. He didn’t have an exact estimate of speculator holdings but ventured an educated guess of 750,000 individuals worldwide with the majority in the US. Estimated value of their holdings $1.5 Trillion – $1.7 trillion

Article is from feb 2010.......go rv!

Forums Post Reply Iraq is to delete the zeros of the Danarh and raise its value against the dollar Sunday, March 25, 2012 BAGHDAD - Naseer Goldfinch Official sources in the Iraqi Central Bank to the project to delete three zeros from the Iraqi dinar actually began, and that the process will cost the budget 172 billion dinars (150 million dollars). She explained that the budget next year will be the new dinar, which will serve the Central Bank to gradually raise its value against the dollar and equal access to price, any dinars per dollar. Showed official documents private replace the dinar obtained by the «life» that the new edition will be issued in three languages, Arabic, Kurdish and English, as will cost the printing process, which will be forwarded to one of four international companies specialized $ 150 million, including printing, transportation, insurance, and work outside of office hours for the destruction of the currency old within the «central». The latter oversaw the implementation of the decision issued by the former U.S. civil administrator Paul Bremer spent a replacement currency issued during the regime of former President Saddam Hussein with new ones, and the process took three months for the new currency to replace the old and the withdrawal from the market. The Deputy Governor of the «central» the appearance of Mohammed Saleh to study for the printing of a new series of coins started since 2005, when he began correspondence with the Committee on Economic Affairs in the government in 2007 around the idea of ​​deleting three zeros from the currency. He pointed out that the bank began printing new currency that it will be characterized according to the best standards worldwide and will ensure the security properties of aesthetic, artistic and national benchmarks. He stressed that one of the most pros would be to reduce the size of 30 trillion dinars to 30 billion, the currency will also be tamper-proof and enhance the confidence of their customers and increase its value against other currencies, in addition to lowering the numerical value of financial transactions and accounting. He pointed out that the replacement process will not be as quick as in 2003, but will be gradually to prevent any fluctuation in the value of the currency, and can last two years and keep the old currency accepted during this period and also new to the old while pulling through banks. And confirmed member of the parliamentary economic committee that Nora Albjara currency exchange requires the approval of Parliament, and this project is not without its problems but it will be less than that accompanied the replacement process in 2003, and the replacement will be long term and allow for examination before the old destroyed. It showed that some members of Parliament suggested that the fees on the new currency with an Islamic character, but that was met with objections on the grounds that Iraq's multi-religious and ethnic groups and sects. The other problem is represented in the pre-substitution, ie, the state budget and stock prices, which requires the issuance of coins of small group to avoid problems. Iraq and issued the first national currency mid-1921 in Prince Faisal Ibn Al Hussein and called the penny, and first saw the light of Iraqi dinars in 1932 and carried a picture of King Faisal I, was established in 1947, the National Bank of Iraq to adopt the subject of printing the currency. Did not change the form of currency until the establishment of the Republic of Iraq in 1958, to change later, after the Baath Party took power in 1968. And disappeared original currency after 1990 and appeared currency printed locally in the presses of newspapers and the poor and devoid of controls in place globally, after the siege continued decline in the exchange rate of the dinar against the dollar until he arrived in 1995 to 3000 dinars to the dollar, which has produced tons of currency printed locally. http://translate.google.com/translate?langpair=ar|en&u=http%3A%2F%2Finternational.daralhayat.com%2Finternationalarticle%2F293681

Keep, Enoch put this out late last year maybe this answers your question.... Post Enoch8 on Sun Sep 18, 2011 1:41 pm Looks like the overall sense of this, might be simply put, that the economy and inflation has nothing to do with the amount of Dinars in circulation, put that dollarization and the peg to an inflating USD is largely the problem. One main point is to consider.... at 1170 with 30 Trillion IQD (as reported by CBI), that is only about $26 Billion Dollars worth of currency. Iraq possesses, (according to their own records and IMF), only about 20% of that total, roughly speaking, about 7 Trillion IQD and about 23 Trillion is not held by or even own by Iraqis..... and about 80% of their economy is based on USD and other currencies. It was reported by CBI , that this practice is costing about 8% of the GDP, due to a non recognized National Currency..... largely caused by the costs to convert to other currencies..... and that might not include additional accounting inconveniences, due to the low value and number of zeros. It is obvious, that there are 4 main things that need to happen to solve this problem. 1. The Currency has to be tradable internationally, so the costs of import and exporting non oil goods is not draining 8% of the GDP, which is inflationary, all by itself. 2. GOI policies that were based on 'Nationalization' and Government Regulatory practices of the former regime, that are oppressive to the private sector.... meaning the Revolutionary Command Counsel Laws..... must be repealed.... (which they are actively doing, BTW). 3. The prices of goods must be decreased and the National Currency value must be increased. 4. The use of USD and Euro internally, in the markets, is inflationary and is currency manipulation, which all by itself holds the people in poverty. Now..... here are the problems to solve. The Basis years of Iraq, are represented by the last fair representation of an average Iraq economy, according to the Ministry of Planning Feasibility Studies..... was 1988..... which is a fair assessment of the last year of a healthy economy, before the Saddam restrictions destroyed the economy. This year seems to reflect the health of the economy, in the prior years. In those years, the amount of IQD in circulation was about 25 Billion IQD and the country held most of that, value in either IQD or Petro Dollar wealth. The Rate was $3.22 against the USD and the overall value of the Money Base, was about $80 Billion US. Oil was only about $15 Per Barrel. Today, there are 30 Trillion IQD and even IF Iraq held all of that and dedollarized, the value of the Money Base, at 1170 IQD per 1 US, is only about $26 Billion US. That is only about 30% of the value of the Money Base of 1988, while the price of a barrel of oil is about $90 Per Barrel, (6 times higher than the prices of 1988.) Note: The Inflation index from that day is shown by MOP and CBI to be about 630%, so the cost of oil is a very good representation of this number..... which is 600%..... only 30% difference. The population has increased in that time, by about 35%. So..... here is a way to add up what the actual Money Base would have to be valued at, today, compared to the $80 Billion US value of IQD in 1988, just to maintain the status quo of those days. Here is how you figure it. $80 Billion x 1.35 reflects the population increase and therefore demand: That is $108 Billion US value of needed IQD. $108 Billion x 630% (108 x 6.3) = $680.4 Billion USD value of the IQD Money Base. There are only $26 Billion in existence, at 1170, so divide 680.4 by 26 = 26.167. That means, simply put, that even without considering the fact that there is currently about 2 to 5 times the world demand on IQD (even as an exotic currency), that there was back then..... and the fact that if Iraq is able to hold a sustainable value, there would be many times that demand in the combined factors of demand, by Forex, International Treasuries and Corporations, to hold as Internationa Reserve Currency..... and estimates of that could be 5 to 10 times the current demand. OK..... let me simplify this a bit. If they were to simply Redenominate (IE LOP), they would only have a value of 30 Billion IQD at .86, which is only about a $26 Billion US, in IQD Money Money Base value, which is 26.167 times under value, (without factoring additional international demand of as much as 10 to 50 times that demand. What this shows, is that just in Iraq alone, the demand (just to maintain the status quo), is to have 26.167 times the current value or 26.167 times the amount of currency in circulation..... in Iraq..... not including international demand. So..... here is a perfect example of what this shows us. Let us say they do what Turkey, France, Venezuela or Nigeria did.... and just Redenominate. They would have to either print up 26.167 times as many notes in smaller denominations.... (which is totally absurd...), or they would have to also revalue 30 Billion IQD to 26.167 times the rate of (.00086 x 1000) = $.86 and times that by 26.167 as the exchange rate. That is $22.50 US per 1 Iraq Dinar. Now that is just preposterous. That would still only meet the needs of only Iraq..... not considering international demand added....and still only to meet the status quo of today's existing levels of poverty. That is just absurd to even consider as being viable..... because without a policy change.... they would suffer continued dollarization, multi currency practices.... and the identical inflationary pressures.... as they have now, without solving a thing..... and would have to do it all over again in 10 years. Now..... here is one other thing I did not mention. Iraqi average incomes are only about 10 to 20% of their closest neighbors and competitive oil producing nations...... so let us continue this to show what the viable alternative would be to Redenomination. So far we have shown that just Iraq.... to maintain a level of $4000 per year income averages, would need to have a Monetary Base in IQD value, of roughly $680 Billion which is 26.167 times larger than what exists now. BUT!!! Consider that very conservatively, the average Iraqi income would increase to just double in the next 3 to 5 years. That creates a demand of 1.26 Trillion IQD valued at just $1.00 US. We have already established, that there is already a demand in the world markets of 5 times that, (even before it is even an international reserve currency.) That tells us, that there would be a need to have about 6.3 Trillion IQD, currently, if the Value was only $1.00 US. If it RVs..... we also know.... the goal is to become an international reserve currency.... which would place additional demands of as much as 5 to 10 times that. Since we are sticking with the conservative numbers.... let's use the smaller number. 6.3 x 5 times additional demand..... = 31.5 Trillion IQD valued at just $1.00 per IQD. Now.... watch!!! What was the latest numbers CBI has been reporting, exists in IQD in circulation? Some have said 30 Trillion and others said about 31 Trillion. CBI is projecting, there would need to be 70 Trillion IQD at the current Exchange Rate within the next 3 to 5 years if nothing is done. So...... are you getting this? Do you see what this is showing? You are not getting the full picture from CBI, GOI or the media. They for a 100% certainty, cannot Redenominate. without increasing the value at least 1000 times.... and would still have to have the existing amount of dinar in circulation..... even at $1.00 . Do you see? The economists are basically saying, there is more to it, than simply removal of zeros. That would destroy the economy if they did not replace every single dinar removed from circulation, with another. Get it? yes Read more:

Thank you Zekiel and Highlander. I am sorry if I misrepesented the conversation from the other forum I did not mean to. I hope I did not rattle any feathers at the other forum by bringing this over. There is much respect for Enoch, Highlander and you as well Zekiel....especially from me! We all look forward to reading anything you all post!

Question for you Highlander: When you Proteus and Enoch do your research and make assumptions is it all based on hard facts from what the cbi has said and other countries have done? I guess what I am asking as well is there is no ' plan ' built into your research because there is no real proof of a ' plan '. Thanks...

Citizen) reveal the intentions of raising the value of all Iraqi dinars to equal « on: Today at 11:04:32 AM »QuoteCitizen) reveal the intentions of raising the value of all Iraqi dinars to equal one dollar On: Wednesday 03/21/2012 19:48 Baghdad: Ahmed Naseer , a source in the Iraqi Central Bank about four companies currently competing to win the draft printing the new Iraqi dinar, which will generate graceful after deleting three zeros from it, as Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuation of Iraqi dinars and one equivalent of U.S. $ one. The source continued that the Bank and after the Notice blockbuster to buy hard currency of the auction, which is supervised by the central, deliberately to sell the dollar worth less than the former by 3.4 points, with the imposition of conditions of purchase to prevent the exploitation of the market meet the demands of neighboring countries that suffer from economic sanctions and the devaluation of their national currencies, all of this to re-balance the domestic market, which saw and by what mentioned fluctuating rapidly in the price of the dinar, adding that everyone knows that the central bank managed to actually raise the value of the dinar in thoughtful and intelligent since 2003 until now that the price of the dollar equivalent to 240 dinars, but now the price tag rose to 1120 per dollar, and this is one of the most important tasks of the Central Bank, which is responsible for monetary policy in the country, and one of the most important endeavors is to raise the value of national currency to achieve purchasing power top for the Iraqi people. The Central Bank of Iraq announced, yesterday, about his buying and selling of the dollar price of 1166 dinars during the auction, which is evaluated every day with the participation of 23 banks, after it was sell it and buy it at the price of 1170 dinars to the dollar. Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, in statements to the media », that« the Bank worked to raise the prices of the Iraqi dinar against the dollar during its sessions for the sale and purchase of foreign exchange rate of four dinars and by 3.4% to up to 1166 dinars to the dollar », indicating that« the dinar nominal is not commensurate with the purchasing power him or the real price of the exchange rate of the dinar against the dollar ». Saleh added that «the current account of payments of Iraq where a large surplus relative to GDP at a rate of 5-8%», stressing that «the surplus is the signal strength and not vice versa as well as the existence of large reserves of the Bank». Saleh pointed out that «the dollar exchange rates in the Iraqi market which recently experienced a slight increase will be affected by the decision of the Iraqi Central Bank », adding that« the Iraqi dinar will be attractive in the Iraqi market ». The Deputy Governor of the Central Bank of the appearance of Mohammed earlier this year for efforts to obtain the approval of the executive and legislative branches to put in three categories significant after deleting three zeros from the Iraqi dinar, pointing out that the process of replacing the currency will take two years. As announced in favor of (January 6, 2012) for high reserves, Central Bank of Iraq from foreign currency to $ 60 billion for the first time in the history of Iraq, while confirmed its ability to curb inflation if it came to two places decimal places, it was considered that the current levels do not raise concern. It is noteworthy that the CBI is being daily sessions for the sale and purchase of foreign currency except for public holidays on which depends in which of those auctions. the appearance of Mohammed Saleh confirmed by (citizen) that the volume of money supply to be printed soon consist of 28 30 billion dinars, with calculated that the currency currently in circulation to more than 32 trillion dinars, and you measure the size of Altrchiq which dominated the national currency, and the size of the benefits that will catch up with this project in terms of withdrawal of monetary inflation and reduce the amount of cash and other. source revealed in an interview (citizen) that the form of currency The new will be like a mirror reflecting the history of Iraq and specifications will be even better than printing the dollar, and are impossible to falsified, and will be charged properties artistic and aesthetic features of an Iraqi national tell a story of civilization and its achievements since the dawn of history, as well as it will carry both Arabic and Kurdish as the text of the Constitution provides that in addition to English language being a global system is applied in all countries of the world. He said the groups would be equal between the metal and paper, where will be issued a class (25, 50, 75 and 100) dinars categories metal and there are 5, 10, 25 and 50 and 100 dinars, and paper. In order to shed light on the history of the Iraqi currency has been used to study integrated worked on writing the engineer in charge Mahmoud Shaker al-Rubaie, who was able to document the history of the dinar in this country since its inception and even now, in which he said: - The talk of the Iraqi currency and a broad and large it is associated with conditions of political instability experienced by Iraq, which led to the entry of foreign currency of the policy of the occupied country, when the Iraq under Ottoman control, the (Majidi) is the currency traded in the deal has been designated as the currency relative to the Sultan Abdul Majid, the father of Sultan Abdul Hamid, and parts Majidi is (Alaqچh and righteous) and continued to deal Palmgide Ottoman until the entry of the British in 1917 and to extract the country from Ottoman control as Enter the British (Indian Rupee) currency alternative in dealing and trading, and their parts (soften) and has been the practice that the new currency expel the old currency .. So ended the trading currency, the Ottoman Empire after he entered the Lord's Indian into the Iraqi market and the reason for making the trading Barabah Indian instead of pound English is due to most of the troops, the English occupied are of Indian Sikhs and Alkirkh. After that crystallized when the English idea of a (Kingdom of) in Iraq and became a talk about One of the children of Sharif Hussein to stand up to this task has happened in 23 / ​​August / 1921 Faisal was crowned as the son of Sharif Hussein king of Iraq must be of this political shift that is reflected at all levels and find it a change in the currency. It began to pump Iraqi currency called a new (penny) and the word is out of Byzantine and consists of a small circle of copper in the middle category number and below the word penny around the circle Kingdom of Iraq and on her right Hijri and to the left of the Christian calendar the other side of the image of King Faisal I, written by King of Iraq on the right and Faisal I on the left. With the passage of (penny Iraq) continued (Lord's Indian) trading as of October 1932 has been canceled to deal with. after the issuance of (penny) issued a coin is (two mites) and with the same specifications penny, but greater than a bit, then appeared (pubic hair), a four money is equivalent to currency in English (brown), one of the parts of the pound has continued to issue categories in ascending appeared ten fils, one of the copper and then the twentieth penny called (the Koran) and the dirham and is equal to 50 fils then appeared percent fils then two hundred fils and it is called (Real) and the equivalent of (Shilling) currency in English which is made ​​of pure silver and a picture of King Faisal I on the one hand and the other three palms engraved on the thick branch of a tree, a large size relatively. After ten years on the coronation of King Faisal I, was established the Iraq Currency Board in London in 1931 and the issuance of Law 44 of the same year, by which printing paper currency in the sixteenth of March 1932 saw the light of the first Iraqi dinars bearing an image of King Faisal I on the right and the name of Kingdom of Iraq at the top and category number in the middle is written in Arabic and the second in English , where the company (Dollarroa) British printing of the dinar was also printed in small denominations of paper (quarter and half) in India and started the Iraqi dinar expel the Lord's Indian, according to the rule referred to until the end the deal in October 1932. that the Iraqi dinar is equal to 1000 fils was also printed Order five dinars, ten dinars and then was put Order cent dinars Royal. With the development of political events, specifically on 26 / November / 1934 appeared the new dinar, carrying a picture of King Ghazi This happened after the death of King Faisal I quickly changed this image to be replaced by a picture of King Faisal the second in late 1939, when the departure of King Ghazi. has continued the Iraq Currency Board printed Iraqi currency until the issuance of Law No. 43 of 47 and by virtue of which has been established (National Bank of Iraq), and specifically on the twentieth of July 1947 to adopt the theme printed Iraqi currency and the existence of this bank been dispensed with by the Council of the currency and cancellation in 1949, after several years and specifically in the first of July 1956 a law was passed 72 by virtue of which changed the name of National Bank of Iraq to (CBI). did not change the form of the Iraqi currency and continued to print until the establishment of the Republic of Iraq in 1958 and the emergence of leader Abdul Karim Kassem in his time there a lot of amendments on the currency notes and coins as the posters of the three kings of all currencies replaced by (logo Republican) new and that on the eighth of July 1958 and get a lot of variables on the coin as canceled class (Filsin) added fils to ( pubic) to become (five fils) and Hausa popular salutes the leader for his work, namely, (lived leader Old Zaid pubic .. fils ..) as well as canceled (the Koran), a twenty-penny and was replaced by (twenty-five fils) while retaining the MAD and percent fils and cancel (Rial ) which is equal to 200 fils, and the terms of paper currency, the hundred-dinar was canceled and keep the rest of the categories of paper with the addition of symbols of Iraq have (such as Palm and filling Darbandikhan filling Dukan and Fort Ukhaydir and Daura and waterfall entirely on you and your beacon humpback and silo Basra, Helicobacter and the bull winged and the Lion of Babylon and ascend Kut and guitar and Obelisk Hammurabi did not change the form of currency, but little change until the revolution of the seventeenth of July 1968 and began raising the slogan of the republic to be replaced by symbols of Iraq referred to above. With the beginning of the eighties of the last century began the emergence of a coin to replace categories of paper small appeared 250 fils compared to quarter dinars and 500 fils, compared to half dinars and 1000 fils against the dinar as well as the Central Bank issued the Iraqi alloy of gold of the categories (gold dinar and five dinars, ten dinars gold), which was sold at the price prevailing for gold and for a short period, and in the mid-eighties of the last century began (feminine) the volume of paper currency beginning of the quarter dinar and the end of Balashr dinars and more characteristic of this stage is the emergence of the Order of the ten dinars and has a great scientist Hassan Ibn al-Haytham, which Ohmt people that this currency is not Iraq ..!! With the deterioration in the political and falling exchange rate of the dinar against the dollar, the government took to printing a new class with No. 25 dinars, and on his face the first image of Arabian horses and the other side is for the coin were then put a picture of former Iraqi President Saddam Hussein instead of Arabian horses have been printed in this category in Russia. In the second of August 1990 had evolved in Iraqi politics was overshadowed by the dark on the country generally and currency, particularly by imposing (policy economic blockade) by America and its allies, which led to the disappearance of currency for all original categories and the emergence of currency printed locally Bmtaba newspapers and journals is meager and devoid of controls in place worldwide .. As the years the blockade increased the print size and say the dinar exchange rate against the dollar until he arrived in 1995 to 3000 dinars to the dollar, which has produced tons of currency printed locally. that monetary policy began to lose its balance because of the (currency prosthetic) For the purpose of control of the high inflation began printing categories are not defined earlier, such as the fifty and one hundred dinars which is bearing the image of the unknown soldier's new The Baghdad clock on the one hand and the image of former President Saddam Hussein from the second and then a class Almaútan and fifty dinars which is bearing the image of the President. did not hold the banknotes in front of the dollar exchange rate with continuous print locally even seemed meager worthless and that the large size has deprived its prestige .. continued in 2002, was issued a new class is a paper on (10000) dinars to absorb inflation gorge and slack the big hit the currency, but to no avail. after more than thirteen years the blockade policy and the advent of CPA and the occupation of the country by the United States of America and the appointment of Bremer (Paul Bremer ), which began to amend Iraqi law by what he sees is if adopted by the Central Bank Law No. 73 of 2004 amended, which provides for printed Iraqi currency a new currency and rely on the dinar republican in form and change the category to be consistent with the equivalent of currency printed locally if adopted the form of quarter dinars to become a 250 dinars and a half into 500 dinars and the dinar becomes 1000 dinars, as well as the five and ten dinars to five thousand and ten thousand dinars, with the introduction of a new class is (25000) dinars to absorb the huge expansion of cash which are of red dye was also an instrument of the coin of the class 100 dinars and 50 dinars and 25 dinars, but has not been activated largely because of the conditions of inflation and price increases have started to replace the currency from 01.10.2004 until 02.28.2005 and the continued currency trading referred to above to the present day and talk about the intention of the government remove three zeros from the Iraqi dinar in order to reach to levels comparable with the exchange rates of foreign currencies order back to the glory of the Iraqi dinar and weighs a healthy beautiful green turquoise. 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.almowatennews.com%2Fnews_view_38495.html

....let me start by saying this is a response by enoch to highlander and proteus who do believe there will be no rv of any real value..... Not so fast. This is not as grim as it might seem, to some. This is exactly why, it is important to understand a little of the basics, in macro economics. It is why it is important to understand what the Ministry of Planning shows in the Feasibility Studies and Reports. If you have been following the many posts I have made over the last 3 years, this is why that was all so important to understand. Now watch this model and you decide, for yourself what is true, based on the fact that, "All currency, whether issued by word, fiat or decree, no matter if it is gold, paper or seashells, is a direct liability, to the issuer, king, country, civilization, or whoever issues it, directly proportionate to the equivalence in it's stated or common buying power." It is also true, that this value or buying power is directly affected, by the supply of goods and services, weighed against the amount in circulation and the demand against the actual supply of money, vs the supply and demand of goods and services. That said..... Based on the above economic principals, let's do a simple model using some estimates found in useful reports, from the CIA, IMF, GOI, CBI among other agencies, to show what those supply and demand factors actually are and what we can logically expect. Here goes: The Ministry of Planning, used a 'Basis Year' of 1988, to show some interesting statistics that can be used to show where we are today and potentially will be tomorrow, in especially the areas, of Supply of Money in circulation, versus the buying power of that money, in 1988 as compared to today. Here are some estimated examples, (some of these will vary a bit, depending on the reporting agency, so we will estimate and round off for better understanding). Exact amount and facts can be verified to greater accuracy, later. I want to keep this simple for the time being, as to not get so weighed down it is impossible for the average person to follow, (It is hard enough to understand this, as it is.) In 1988: According to MOP, there was approximately 25 Billion IQD in official circulation, (depending on the reporting agency, used.) The Reported Exchange Rate was $3.22, (Although IMF shows variables, the final number should be compatible as to the actual buying power of the overall monetary base.) The value of 25 Billion IQD at $3.22 is roughly $80 Billion US, in Buying Power of the IQD reported in circulation at that time. Oil per barrel varied, but an easy estimate was approximately $15 Today, in 2012: According to the CBI there is about 30 to 33 Trillion IQD in circulation. The exchange rate is 1166 or about .00086. Using 33 Trillion as the article above states, that is an actual buying power of the overall IQD Base, of about $28 Billion US. Oil per barrel, is now about $1.10 per barrel, which is over 7 times what it was in the Basis year, 1988. Finally, The Basis Year of 1988, the population of Iraq was only about 27 Million and today is closer to 32 Million. OK.... so what does that all mean and what does it have to do with the above discussion in this thread? As Shelby Stenga would say, "Heya we go!!!" Would anyone dispute, the fact, that the oil prices of 1988 vs the oil prices today, are the rough equivalent of overall world inflation relative to, todays overall average prices, versus the prices of 1988, meaning that average prices on goods and services are about 7 times what they were in 1988? Here is what that would suggest, and how it relates to the above economic principals of supply and demand, and how that is reflected directly in the buying power of a currency. That is called ERER (Equilibrium Rate of Exchange Ratio), in Exchange Rate Regime Methodologies. A buying power of $28 Billion in 1988, as a basis or target for feasibility, would suggest that the same buying strength should be the estimated equilibrium, for calculating needed supply and demand ratios to buying power. If there was 700% increases in overall prices and cost of living, then that would suggest, that the status quo, today would be 7 times what it was in 1988, without factoring population increase or modernization increases to that same demand, nor factoring addition world and secondary markets, which are dramatically higher than 1988. I will come back to those, in a bit. That suggests, that to keep up that status quo, there would need to be a buying power or Purchase Power Parity of $28 Billion x 7 = $197 Billion, after dedollarizing and repatriating the IQD, Now.... I am not including the oil markets, to this equation, because the oil markets are based on Petro Dollars, just as they were in 1988, so that is a bit of a wash, therefore not a factor, in calculating an exchange rate equilibrium, although the oil market, does serve as a powerful enhancement to the ability of a country to leverage it's natural resources into liquidity, but it cannot be used to factor the exchange rate or ratio of it's own currency, unless it is traded in it's own currency. So, I am excluding it as a factor, for this example. Also, I am not factoring a difference in digital, currency as liability, because inventory is removed proportionate to digital accounts, which removes that liability, according to CBI law, and standard international banking practices. Also, I am not factoring a difference in dollarization, because, in my estimations, the proportion of dollars in circulation, in the non oil economy are offset, by the export of IQD out of Iraq control, and as that percentage is repatriated, into Iraq, so will the USD be pulled out of circulation, as to offset (Balance), the equilibrium. Based on that, so far, we now show a need for $196 Billion worth of IQD, as a non oil sector of the economy, and still need to factor in, population, modernization and secondary market demands. Population based on 27 million in 1988 and 32 Million today is a 1.18 factor. 196 x 1.18 = $232 Billion. Modernization, is tough. I can only estimate, that there is a need for about double, easily, even higher, yet wages have not increased world wide, to meet such demands, so they may offset each other. In the spirit of erring on the side of caution, I will not factor modernization and wage indexes, as a natural counter balance, to this equation. OK, so how about the Secondary Markets? World Demand? We know right now, there is a huge market demand growing, even just on the IQD alone, without even delving into Gov Bonds and Securities, just based on the fact that there are estimates ranging from 24.8 Trillion IQD to 27 Trillion, removed from Iraq Liquidity, which I believe are proportionate to the USD in Circulation. That is a common practice of Central Banking Intervention, to remove excess liquidity from the markets. We have not seen CBI do this, but we do know, the Iraq Banks have done so. My guess is at the behest of CBI. No way to know for sure. What that says to me, is simple, once your see it. That means there is about 80% of the IQD in circulation, that is based on external secondary market demands. If that is the case, we can now easily make a reasonable deduction, that, this would be the case, following UN Chap 7 releases and IMF Art VIII compliances are met and the GOI Securities and Bonds are rated B and above, as was suggested by Al Saleh, this week in a related article. That suggests, we now have a new number to work with, that is at minimum, 5 times higher demand, than the $232 Billion, leaving us with $232 x 5 = $1.160 Trillion US, Demand for IQD, as a real market equilibrium factor. What that suggests, is this..... to have 33 Trillion in circulation, once repatriated, dedollarized and recognized, as even a B rated Nation, $.035 or 3 and a half cents, would become a new realistic factor, if a simple RV were the case. But Wait!!! We are only using the amount in current value. We are forgetting something else we left out!!! In 1988 the buying power of the total was $80 Billion, not just $28 Billion!!! That means we are estimating by a factor of 2.8 times low!~!! 1.16 T x 2.8 = $3.3 Trillion!!!! That brings us to about $.086 ~or~ a 10 To 1 Exchange Ratio, of a 1000 to 1 Redenomination at $.86. But remember, "All currency, whether issued by word, fiat or decree, no matter if it is gold, paper or seashells, is a direct liability, to the issuer, king, country, civilization, or whoever issues it, directly proportionate to the equivalence in it's stated or common buying power." So, the question is, "How does Iraq, create $3.3 Trillion USD worth of value, to cover the liability, of even a 8.6 cent exchange rate, (Or the effective equivalence, in an Re-Denomination with a revenue positive Exchange Ratio, (Not to be confused with Exchange Rate), when the CBI can only cover $60 Billion of the liability? The answer to this comes back to the general discussion, Proteus is pointing out. This is done through converting non liquid assets, into actual liquidity. Remember, the exact liquidity created is also a direct liability, so in other words, "It has to be paid for or covered in real value." No pipe dream can change that fact.... not even the US gets away with creating liquidity, even out of thin air, without creating debt, IE. Liability. As Highlander said, we will be discussing this in the 11 part series, "Dinar Fact of Fiction" at Revalue.us Regards, Enoch8 HighlanderPosts: 2 : March 20, 2012, 04:07:02 PM »Enoch great analysis! Thank you! I have one question for you however. The actual population of Iraq from the last official census was 16,278,000 in 1987. http://countrystudies.us/iraq/30.htm Wouldn't that actually make your case stronger and raise the numbers you listed above? -------------------------------------------------------------------------------- Enoch8 Hero Member Re: !!! Sources: Central Bank began printing Iraqi currency after deletion of zeros « Reply #11 on: March 20, 2012, 04:15:22 PM »Quote from: Highlander on March 20, 2012, 04:07:02 PM Enoch great analysis! Thank you! I have one question for you however. The actual population of Iraq from the last official census was 16,278,000 in 1987. http://countrystudies.us/iraq/30.htm Wouldn't that actually make your case stronger and raise the numbers you listed above? Holy Jehosephat Highlander! Then if I used 27 Million for 1988 as a ratio for population increase demand, that increases our final tally by almost 40%! I did say I want to err on the side of caution, so just factor that 3.3 Trillion by 30 or 40%. 3.3 T + 40% equals about $4.62 Trillion. $4.62 T divided by 33 Trillion = $0.14 or closer to 14 cents, basically, (whether RD or RV is not relevant if they do a Revenue Positive Ratio). I would love to hear from Scooter about his current thoughts on the rv/rd.....he is tight with these 3. Scooter....WHERE ARE YOU!!!!....

BAGHDAD / Baghdadiya News / .... sources from within the Central Bank of Iraq that the latter already begun the contracting process to print a new Iraqi currency after deleting three zeros of which, Pointing out that the central bank just waiting to give him the green light if there were objections to the drawings and designs. The sources indicated in comments summarized by / Baghdadiya News / "The central bank introduced a draft law to delete the zeros to the Chairman of the House of Representatives Osama Najafi, and ensure that everything about this great project which will start work by the process of offering the new currency for circulation early next year, and will continue to drive the replacement of three years. "The House of Representatives has no objections to the project except the subject of graphics that will come within the designs, adding there are those favored by nature and one favored by Islamic history, stressing that the initial indications stating that everyone agreed on the historic monuments in Iraq. And was a member of the Economic Commission parliamentary Nora Salem Albjara described in a statement to / Baghdadiya News / replacement process and delete three zeros to "step" that Iraq must start with, but for many reasons, including elimination of the problems of the current currency, especially after the emergence of the phenomenon of counterfeiting of currency from the category of the ten thousand dinars. " She said also that "the restructuring of the currency has become an urgent need now, it is reasonable to continue the circulation of currency issued in times of Iraq was then suffering from inflation and the deterioration of Danarh, and this has increased the amounts of money in circulation in the market." She said "Iraq is currently trading at least 33 trillion dinars, and this is a very huge amount causes a lot of confusion in cash transactions, and more effort and time and a lot of risk in carrying large amounts of banknotes in the pocket, and this is why the Iraqi citizen of the tendency to deal in dollars, to become the market dollarized the Iraqi market, and must be maintained on the national currency. It showed that "new dinar will be printed also groups as large as the 100 dinars, equivalent to the current currency 100 thousand dinars, as well as 50 dinars and twenty-five and categories of the youngest is ten dinars, five dinars, which without it would be a coin will be the favorite being the most traded in return will not be worn out." Atney / 27 http://translate.google.com/translate?hl=en&rurl=translate.google.ca&sl=ar&tl=en&u=http://www.albaghdadianews.com/economy/item/6349-LZHADE-AkBlK-AkLEKen-yoEI-BZBAI%25D8%25A9-AkILk%25D8%25A9-AkIEAjn%25D8%25A9-BID-GdJ-AkAZHJAE.html

Project to delete the zeros of the Iraqi currency at a seminar of the Centre for Regional Studies Follow-up: Seminar Committee As he used Center of Regional Studies at the University of Mosul, to witness every Wednesday seminar new shed light on the developments, with regard to economic, historical, legal, saw Hall Library Center for Regional Studies Day seminar new came to dealing with the subject economically entitled: "The project to delete the zeros of the Iraqi currency - the vision of reality", The researcher, Dr. Hashim Mohammed Abdullah Aercop professor of public finances Mosul University - Faculty of Management and Economics / Department of Economics, workshop, which was attended by Professor Dr. Ibrahim Khalil Allaf director of the center as well as the teaching staff of the Centre and the guests of Altdresen full-time and graduate students and Diploma In the College of Business and Economics, highlighted the annotated deletion of zeros from the Iraqi currency through economic study. Raise zeros from the currency .. Benefits and costs In the beginning of the workshop noted researcher Dr. Hashem Aercop to talk about the money and changes receives attention in the past, present and future Because there is no currency exchange, but in everyday life was synonymous with money and that money has been described as a social invention because it is linked to human needs and developments. In Iraq, noted Article 31 of the Law on the Central Bank of Iraq No. 56 of 2004 in Section VII with respect to the national currency (the dinar is a unit of the national currency of Iraq), which means that the standard unit of currency is the Iraqi dinar, but notes that the absence of such a monetary union in trading as well as lack of parts or components which makes the adoption of the deletion of three zeros from the national currency is an urgent need and necessary. The concept of lifting of the zeroes Raise zeros or lifiting of the zeros Rename or delete the zeros or removing for delete zeros Are terms that refer to actions that would improve the situation of the national currency, by removing or deleting zeros or numbers of the old national currency, for various reasons are different countries. The expected benefits to raise zeros Noted researcher Dr. Aercop in talking about the expected benefits to raise zeros by saying: 1 - It is one justification for the monetary authority (central bank) in the control of the trends display the progress of their performance during a career in the liquidity management 2 - They achieve the goal of financial stability is the value of the currency and the absorption of the surplus 3 - They are necessary to keep pace with economic changes and economic reform policies. Requirements for success to raise the zeros Researcher pointed out that the economy of any country, including Iraq requires a set of conditions and the factors to be the lifting of the zeroes of a positive impact and contribute to promoting and sustaining economic stability, these factors are b 1 - The existence of economic policy are clear and specific objectives and tasks 2 - Optimum use of economic resources (human and material) available scientific and take steps to diversify the economy through the regular update of the agricultural sector 3 - Provide adequate cash reserves of foreign currency convertible 4 - External debt to be at acceptable levels and does not constitute a burden on the economy 5 - Completion of legal and administrative regulations that are related to the process. Second, the project cost and the lifting of the zeroes of cash transactions Dr. Aercop indicates that under the economic circumstances and the pressures of inflation that has befallen our country and led to negative effects on the regularity of the commercial market, labor markets and production and living standards have generated distortions in the structures and economic relations among them was the presence of mass Many zeros little cash value, which requires a solution to these conditions With price stability and optimism for the future development of Iraq, it became necessary to drastically reform the system of currency management in order to re-structure commensurate with the new pricing structure and different levels of wages and salaries, which differed significantly from the last thirty years. On this basis, has become a need to reform the system of cash payments through the following advantages At the horizontal level: Delete the three zeroes Leads to convert 30 trillion dinars to 30 billion dinars by deleting three zeros from the currency and replace the current in order to facilitate the process of dealing arithmetic Either on the vertical plane, the deletion of zeros will lead to re-structure and currency composition. Third, the project raise zeros and its impacts Researcher pointed out that the process of changing the currency to achieve the following benefits 1 - Strengthen the confidence of the code symbols of national sovereignty of the country 2 - Enhancing confidence in national currency, the citizen 3 - Facilitate trade within the country 4 - Re-use coins Either on the justification for the deletion of zeros saw that the researcher Most prominent of these justifications are 1 - Exchange rate stability 2 - High value of Iraqi dinar 25% during 2008-2011 3 - The stability of the internal value of the currency and integrity of 4 - Building strong reserves of more than $ 6 billion. The expected positive effects of the process of changing the currency Researcher believes that the process of changing the currency is positive and achieve the objectives highlighted It is an important step to reform the monetary and currency management system reform, as well as enhance the confidence of the citizen and investor in the national economy, especially with the continued effectiveness of monetary policy, as well as from the positive effects of the process of changing the currency is to end the phenomenon of the state in daily transactions, and the introduction of modern techniques in daily dealings However, research finds that the negative effects that might be achieved in this process he has not achieved the desired results from the change of control of inflation, as inflation could rise at rates greater than the normal rates Especially with the increasing government spending by big budgets. This seminar comes within a series of seminars taking place in the center of distinctive regional studies by introducing new developments and developments to put them in a panel discussion and these seminars are the direct support by Prof. Dr. Ibrahim Al-Allaf director of the center and guidance .. http://translate.google.com/translat...php%3Fid%3D309

8ball except this is really BIG...!!! cachopper yes it is...great news 8ball Kuwait just paid 120 billion usd for it's boarders This means chapter 7 This means Iraq government formation cachopper don't put it like that...they may see this and go, "what the hell did we just do"? 8ball well there is too much on the table Iraq just cleared all of Sadams debt Maliki probably got off the plane giggling cachopper and all those bad things that were said about him.....the guy's a fox in the chicken coop 8ball yes he got everything he wanted total debt relief for the RV 8ball I think that this could be a good month KingWm the dinar just went up in value quite a bit, didn't it 8ball yes its value just surged KingWm I swear...everything u have said needed to be done for months and months and months seems to be happening all at once here 8ball now if we can get Shabibi to respond I think Iraq also used up as much time as it could also crank777 WOW.........OUTSTANDING news 8Ball, We'll all be in Mexico to join you soon!! runningwaters wow good to see NEWS NEWS NEWS....gave chills. I don't know if its cuz it reminded me of you know who or things are really happening as 8ball has been saying for a while. Nevertheless, this gives me a good reason to have a happy hour. 8ball could be Crank....!!! Running water .... BIGGER NEWS then I ever imagined would happen 8ball Erbil is finished in order for this to come out Erbil is almost insignificant to this deal This is chapter 7 Earlyretirement I have always followed hcl and chapter 7 because it was told me that those were the 2 items that needed to be finalized for the RV to take place but you are correct.... 8ball yes its how this happened The CBI has 60 billion usd in reserves Iraq just gained 120 billion usd +++ 8ball yes this wasn't a slow day this was game changer day Sources reveal the Kuwaiti Iraqi agreement to cancel the debt in exchange for recognition marks the border Kuwaiti diplomatic sources revealed on Monday that Kuwait agreed to drop all outstanding debt that exceeds $ 120 billion on Iraq in return for the latter's consent to the demarcation of the border with Kuwait in accordance with the resolutions of the United Nations. Monday, March 12, 2012 Posted by 8ball at 3:

They sell dollars for dinars because the dinar is not internationally accepted. If you want to do bussiness ineternationally you nedd dollars. At the same time time we are hoping they are retiring dinar as well.

Parliamentary Culture: Central Bank of the process of printing the currency bearing the image of the tragedy of the Kurds Faili THURSDAY, MARCH 15 / MARCH 2012 15:15 Twilight News / revealed to the Committee on Culture and the media, Thursday, for the determination of the central bank printed new currency with one of the categories of image embody the "tragedy suffered by the Kurds Alfelaon," indicating that the direction the central bank to print the currency came the proposal of the General Secretariat of the Council of Ministers. A member of the Committee on Culture and Media Saman Fawzi's " Twilight News "that" in memory of the tragedy of the Kurds Faili and to consider the crimes committed against them, crimes of genocide, central bank decided to put a picture embodies the tragedy in the new currency after the application of the deletion of zeros from the Iraqi currency current and Asadr new currency " . "The central bank did not specify now to any of the categories will be charged a currency Faili Kurds." Fawzi and that "the central bank went to print the currency was based on a proposal from the General Secretariat of the Council of Ministers." The Deputy Governor of the Central Bank of Iraq the appearance of Mohammed Saleh revealed, earlier, for " Twilight News "that the new Iraqi currency will increase by three zeros, indicating that the central bank conducted a thorough study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency. The exposure of thousands of Kurds Faili to the operations of the displacement by the former Iraqi regime began on the 4 April 1980, where he was deported to Iran after the confiscation of their movable and immovable, and documents supporting such as nationality and a certificate of Iraqi nationality under the pretext that their origins go back to Iran, forcing some them to change their names to safeguard their lives and their families from murder and displacement. http://www.shafaaq.com/sh2/news/kurd...-12-23-45.html

Hey sonny1 I saw something from 8ball saying astro guys contacts seem to think we are close. He was a pretty bright guy as I remember. Med seemed to think highly of him.....any thoughts?

Wow.....this is getting old! Keep and Hopeful everyone knows this could lop......many believe in the " plan "....yes we all know there is no proof of a " plan "...so this back and forth is really useless. This thread was about a Kap chat. Kaps chats are meant for his members who believe in his way of thinking....and most do believe that Kap truly believes in what he preaches just as I believe you believe in what you guys preach and preach and preach. Let it be!

Currency Exchange International, Corp. February 29, 2012 - 03:42:40 PM Currency Exchange Reports First Quarter Financial Results TORONTO, ONTARIO--(Marketwire - Feb. 29, 2012) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. Currency Exchange International, Corp. (the "Company"), is pleased to announce its financial results and management's discussion and analysis ("MD&A") for the three months ended December 31, 2011 (all figures are in U.S. dollars except where otherwise indicated). The complete and detailed financial statements and MD&A can be found on the Company's SEDAR profile at www.sedar.com. Financial Highlights for the Quarter Ended December 31, 2011: -- Revenue was $2,715,986, up 90% compared to $1,429,866 for the quarter ended December 31, 2010 ("Q1 2011") -- Operating income was $831,386, up 298% compared to $208,681 for Q1 2011 -- Net income was $536,446 or $0.22 per share compared to $120,494 or $0.06 per share for Q1 2011 The Company's total revenue for the three month period ended December 31, 2011 was $2,715,986 compared to $1,429,866 for Q1 2011. The commissions from trading increased to $2,444,193 and the fee income increased to $271,793, as compared to $1,248,518 and $181,348, respectively, for Q1 2011. The increase in trading commissions can be attributed to retaining new financial institution customers and the addition of four new retail stores during the period. Additional revenue was generated from increased trading volumes of exotic currencies that are executed at higher margins. For instance, the Company has noted increased purchases of Iraqi Dinars, apparently as small scale currency speculation, which activity is a source of high margin currency trades. The increase in fee income reflects the addition of new retail and wholesale customers. Fee income generally exhibits growth that correlates to the Company's increase in its customer base. Outlook On February 16, 2012, the Company obtained a receipt for its final long-form prospectus dated February 15, 2012 (the "Prospectus") from the securities regulatory authorities in the Provinces of British Columbia, Alberta, and Ontario in respect of an initial public offering ("IPO") of units. Upon successful completion of the proposed IPO, the Company anticipates it will raise aggregate gross of proceeds of up to CDN$9,177,000 and list its common shares and common share purchase warrants on the Toronto Stock Exchange. Pursuant to the completion of the proposed IPO, the Company has positioned itself to continue the expansion of its business, fund capital expenditure projects and increase its public awareness. A copy of the Prospectus is available on the Company's SEDAR profile at www.sedar.com. About Currency Exchange International, Corp. The Company is in the business of providing a range of foreign currency exchange and related products and services in North America, including the Hawaiian Islands. Primary products and services include the exchange of foreign currencies, wire transfer payments, purchase and sale of foreign bank drafts and international traveler cheques, and foreign cheque clearing. Related products and services include the licensing of proprietary FX software applications delivered on its web-based interface, www.ceifx.com ("CEIFX") and licensing retail foreign currency operations to select companies in agreed locations. The company's services are provided in Canada by its wholly owned subsidiary based in Toronto, Canada through the use of its proprietary software www.ceifx.ca. CAUTION REGARDING FORWARD-LOOKING INFORMATION This press release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to preliminary results, guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified by the use of terms and phrases such as "preliminary", "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Forward-looking statements, by their nature, are based on assumptions, including those described herein and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including without limitation, the Company's limited operating history, future capital needs and uncertainty of additional financing, the competitive nature of the industry, currency exchange risks, the need for the Company to manage its planned growth and expansion, the effects of product development and need for continued technology change, protection of proprietary rights, the effect of government regulation and compliance on the Company and the industry, network security risks, the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel, reliance on key personnel, global economic and financial market deterioration impacting tourism and impeding access to capital or increasing the cost of capital, volatile securities markets impacting security pricing unrelated to operating performance, the ability to enforce judgements against a foreign corporation and its management and completion of the proposed IPO, as well as the factors identified throughout this news release and those identified in section entitled "Risks and Uncertainties" of the Company's MD&A for the quarter ended December 31, 2011. The forward-looking statements contained in this news release represent the Company's expectations as of the date of this news release (or as of the date they are otherwise stated to be made), and are subject to change after such date. However, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations. FOR FURTHER INFORMATION PLEASE CONTACT: Currency Exchange International, Corp. Randolph W. Pinna President, Chief Executive Officer & Director 407.240.0224 randolph@ceifx.com www.ceifx.com -------------------------------------------------------------------------------- Category Codes: Americas(R=AMR), Canada(R=CA), North America(R=NAMR), News Release (non-Corporate)(T=PRL), English(L=EN)

Does anyone truly believe they were gonna come out and say " Hey all it's coming out one to one so hang on to those dinars"......I think it is this simple.......If there is a "plan" we will make alot of money in a shorter time frame....if no plan than a slow and steady upward trend. Think about it.