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jupitergirl
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Tuesday, August 16 - August 2011 12:14 Deputy Governor of the Central Bank, on Monday, said the central bank raise the bill to delete the zeros of the Iraqi currency to the Iraqi government and parliament to Darcth and discussion and approval in the event has been approved. He explained the appearance of Dr. Mohammed Saleh, said that "the draft law, which was submitted this week to both the government and Parliament,
Includes all the details of the legislative and executive on a subject to delete the zeros and the positive economic effects as inevitable, if passed. "
Salih noted that "the bill included proposals for a new currency and the groups that carried and details of technical and economic."
Saleh stressed that "this law, if approved, will have a positive impact on the Iraqi currency in several aspects of the need during the next phase."
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How are the lopsters gonna spin this GREAT article.........I am sure we will find out soon.
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Try this:
Forum Home > Central Bank of Iraq (CBI) News > Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from
Posts: 765 Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from
Friday 12 - 08-2011
Palm - The Central Bank of Iraq completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 30 trillion dinars (26 billion dollars), is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.
The expert said the first in the Central Bank of Iraq the appearance of Mohammed Saleh, during a media statement: Our problem lies in the current issue of the timing of replacement of the currency, they must choose a date suitable to implement the project without hindrance.
Before, and the Central Bank announced its intention to raise three zeroes from the Iraqi dinar, after suffering from inflation and the decline during the nineties the past by economic sanctions, its value has tumbled to become the world today, about 1120 dinars per dollar.
The central bank adopted after 2003 a new mechanism to maintain the exchange rate of the dinar, is to create an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and transferred to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, which helped to raise value of the dinar over the past years more than 2000 points.
And as for the size of the money supply or the size of cash flow by more than 30 trillion Iraqi dinars, equivalent to $ 26 billion, noting that the system of cash transactions in Iraq, after 2003, it became Mdolra, any market deal dinar and the dollar both, and this means a mass of cash circulating in the market but in foreign currency.
He continued favor and put in numbered accounts that the Iraqi currency or monetary bloc total traded home and that would be replaced after the cancellation of zeros will be in the range of 30 trillion dinars, but its value against foreign currencies would remain fixed .. This means that the Iraqi dinar exchange rate now would be equivalent to 1200 dinar per one dollar.
In regard to the most important variables that will come after the lifting of zeros, between the appearance of the central bank solid plan to rearrange the currency to reduce the number of banknotes in circulation, and this is positive and the payments system here would be Iraqi easier.
Economists warned that the process of replacing the Iraqi currency after the lifting of zeros Schoppea operations by a major corruption due to structural inaccuracies of Iraqi banks.
They emphasized that the processes of replacement of currency formerly accompanied the operations a major corruption cost the Iraqi economy a lot, but look for answers by saying that the process of replacing the currency in 2004, took place in exceptional circumstances, and the country under occupation and is administered by the Governor of an American civilian, and with this process was successful.
And sells the central bank through its daily auction, between 150 million and $ 190 million per day to clients of private banks and financial companies, a large proportion of them go Khawwalat external payment transactions of foreign trade.
And confirms the expert's central bank that the application of the new project to raise three zeroes from the Iraqi dinar and the currency exchange, will be according to mechanisms scalable in the form of do not feel the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace it, and it remains only in the possession of the citizens of the trading day, and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar.
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I dont think they are saying it was voted down, but how important it is that this goes through !......what say you ?
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yes please sonny1
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This chat was on DD....DD was on that trip in Ohio. Guess what...this chat was takin off DD site !
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it does trade at 1/2 its book value according to yahoo finance.....not a bad time to take a postion but it WILL take a while...
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it is confusing....when u origanly pull it up it shows usd/gbp=.70....then u change it to iqd it just stays the same...mess with it a bit more and 1170 comes up.....it was an honest mistake by william payne...give him a break !
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Keep I never mentioned okie, ptr or anything about any guru. i don't pay attention to them nor did i say anything to support them. i put them in your catagory..they pump to an extreme and you dump to an extreme.......you help dealers make money by your negativity...maybe that is part of your plan ? Either way I hope you feel good about that. I think most people know that there is a chance of a lop as I do....my point is you bring people down in a big way which I feel is wrong. I do have a right to that opinion....dont I ?
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Remember these article are not meant for us they are meant for iraqs. Turkey is a respected neighboring country THEY can relate to and understand. If you ask an iraqi i would imagine they feel turkey is in a much better fiscal postion than they are currently. Dont let keepem-what-ever KEEP your hopes down....he should post in the lop section....keepem YOU BRING PEOPLE DOWN! Hope you feel good about it ! OK lets hear it.....i know i know warm and fuzzy....you stil belong in the lop section....after all it is what you believe !
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Zaborniake......agree totally! Med has been straight up in the past ! This rumor stuff he has put out the last few days is a bit suprising...and a nice twist in a way.
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Good idea AB. You're right. I looks like the IRS has been open on many past Saturday's.
I was almost believing this might be something since whodathought the IRS would work Saturdays if it wasn't something important.
So, Like every other weekend we hope, wait and see. We'll know soon enough.
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As anything is possible...we shall see.
Btw, this rumor is old news from Okie.
http://miller.house.gov/UploadedFiles/Capitol_Connection_July_8_2011.pdf
Nationwide IRS Open House
On Saturday, July 16, 2011, the Internal Revenue Service will be hosting a nationwide Open House to
provide free assistance to taxpayers who need help resolving tax problems. IRS personnel will be available
on-site, or by telephone, from 9:00 a.m. to 2:00 p.m. local time, to aid taxpayers regarding issues involving
notices and payments, return preparation, audits, disaster information, tax law information, and a variety of
other issues. To locate a participating Taxpayer Assistance Center nearest you, visit the IRS website at
www.irs.gov, or call: 1-800-906-9887. For more information on this or issues concerning other federal
agencies, contact Congressman Miller’s Brea office at (714) 257-1142.
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I like it ! Med is not one to usually run with rumors! Kaperoni has got some pretty tight info as well....he is not much for rumors either !
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http://www.mriguide.com/updates.htm is this for real. Have they been hiding this from us, and have they
already voted on this. Could they have already voted on the smaller notes also.
Thanks for the info. Interesting!
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Does anyone know what article actually said 2 years or have a link to it.
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Makes sense to me Jupitergirl! By the way, are you the same Jupitergirl from the other site? Just curious.
Hi ff it is I ! I dont think I will be invited to that other site that just closed shop !!! Butted heads with manegment too many times....
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I think most people..gurus etc. are suprised with the cbi's announments of late...and the people...traders..etc. have been scooping up dinar. They should be. I can only guess the cbi is campaigning the way they are because if there really is a PLAN then it does not matter how much dinar is scooped up in OUR country. The PLAN is that our gov. is going to reimburse us with electronic money for our dinars and sit on them for appreciation and to use to buy oil from Iraq at a predetermined price.....Kinda makes senses you think ?
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Kaperoni is NOT part of the g.e.t. team.....he did do a q ad a with there members once.....that is it.......
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'will raise the level of the local currency'........well thay can't raise anybody elses currency.......it's a great article!! I understand people don't want to get to excited but come on....!
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Can it still be viewed ? It look live. Can someone help me navigate to see that video. I will get it over to Kaperoni for his interpeter to view......Thanks JG
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Sonny1, Can you give us alittle more juice. Read somthing from Medic saying something about contracts at .60cents to the usd. Can you elaborate a bit more please ? Sure would help a boring Sunday night !
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Scooter , The Paris club debt, you mentioned it had to be paid electronically in internationally recognized funds . Could that be u.s. $ or were you suggesting iqd . Thanks for all you do. And Phoenix we are glad your back !
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Bill to delete zeros sent to gov.!
in Iraq & Dinar Related News
Posted
Sorry about the repeat posts.....computer is a bit screwy this a.m.. JG