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edbeach
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Posts posted by edbeach
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Will Adam be having his weekly talk tonight? Also received his email today Should be Big News within next 10 days.
Enjoy his weekly talks. Not like the BS we read everyday from the so called Guru's
Should be very exciting with a lot of good news coming out of Iraq.
Go RV
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I believe they said were going behind closed doors to diccuss this Last I heard
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Looking at news article of June 27 2011 CBI stated they have completed project of deleting the Zeros and giving steps to go forward. It was to be submitted to the Central Banks Administration 's next session. I know this is old news but according to this article they are spelling it out to everyone.
Any thoughts from anyone
Posted in Banking & Finance, Security1 Comment
Iraq Prepares to Redenominate its Currency
Posted on 27 June 2011. Tags: Central Bank, IQD, Redenomination, revaluation
According to a report from Al Sumaria News, Iraq’s Central Bank announced on Thursday that it is planning to delete the zeros from its currency, the Iraqi dinar.
This step is one of the bank’s strategic missions, the Central Bank said adding that the new currency will include the Kurdish language in addition to the Arabic language.
“The zeros that were added to the Iraqi currency previously constituted a large money supply up to 28.500 trillion Iraqi Dinar and 5 trillion banknotes”, the adviser of Iraqi Central Bank governor Mothahhar Mohammed Saleh [Mudher Mohammed Saleh] told the agency.
“The Central Bank has prepared all requirements needed to delete the zeros from the Iraqi Currency”, Saleh said.
“This step is one of the Iraqi central bank’s strategic missions. The monetary policy of the bank aims to structure and reduce the currency in a country moving towards an economic phase”, he added.
“The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be passed to the ministerial council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual. It will be preceded by awareness campaigns for citizens”, the adviser of Iraqi Central Bank governor said.
“The new currency will be printed after deleting the zeros and will include the Kurdish language in addition to the Arabic language. It will also bear photos of Iraq’s civilization in addition to symbols of Iraqi intellectuals and figures”, Saleh noted.
Sanan Al Shebeibi [sinan Al-Shabibi], Governor of Iraq’s Central Bank, affirmed during the meeting of independent commissions on June 19 with Prime Minister Nuri Al Maliki that the bank is preparing all requirements needed to replace the Iraqi Currency.
Iraq’s Central Bank has four branches including Basra, Sulaimaniah, Erbil and Mosul. It was founded as an Iraqi independent bank by virtue of Iraq’s Central Bank Law issued on March 6, 2004.
The bank is responsible for the prices stability and the implementation of monetary policy including exchange rates, the management of foreign reserves, the issuance of currencies and the organization of the banking sector.
It’s six years since neighbouring Turkey redenominated its currency, making one ‘new Turkish lira’ equal one million ‘old Turkish lira’.
(Source: Al Sumaria)
Posted in Banking & Finance
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Don't know if anyone saw and posted this article
(Source: Azzaman)
Posted in Banking & Finance1 Comment
AlBaraka Bank ‘to Open a Branch in Erbil’
Posted on 18 July 2011. Tags: Albaraka, Erbil
The Turkish AlBaraka Bank will open a branch in Erbil in August, according to a report from Turkish Weekly.
It would be Albaraka’s first branch in a foreign country.
“The Erbil branch will contribute to bilateral relations between Iraq and Turkey,” Albaraka’s director general Fahrettin Yahsi said.
There have been reports of AlBaraka opening an Erbil branch in August 2010 and again in January of this year.
(Source: Turkish Weekly
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Holy cow! What a bunch of sh**
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The sad part of this, most of the people reading their BS are believing what they say.
How sad
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I believe from all the projects and all the oil deals going on they will not have any unemployment or very low unemployment in Iraq
and the money should really start moving around in the country.
This RV should be bursting at the seems with all the good news going on. The Iraqi government is not
going to know how to handle all the new money coming in to country IMO
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Can you imagine what will happen with stock market of Iraq and how high the dinar will rise once
this things RV's
GO RV
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Maybe the local Banks should lower their spread making it worthwhile. When I went to Bank question on cost of buyback of 1 million dinar which cost approx 1100 buyback was around 785 Thats about 30% profit for bank. If I can get much lower that 30% markup then I will take it. Remember the Banks are
constantly adding all kinds of extra fees on just about everything I can appreciate they make profit but question how big of profit
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News article posted this afternoon on anothe thread under caption Central Bank Governor Sinan al-shabib in talks with
Prime Minister Noor al-maliki on how to go aheadd with the bid to issue dinars
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This article was posted this afternoon on another thread and disussed and I still think talking about it tonight
under Central Bank Governor Sinan al-shabibi in talks with prime minister Noor al-Maliki on how to go about with the bib to issue dinars
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This sounds good to me I'll be happy with .85 to $2.00 per dinar
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I guess they would like to sell another billion dinars to people. I didn't realize we have so many gullible people.
The best way to stop is not to bring over to our boards these far fetched stories and if they are posted from the so called guru's don't
read them. I know we are looking at every post in hopes they have something accurate to tell us. I guess we need to take a rest from this
as a couple had said in other post here. No one posting knows date and amount of RV.
We have to rely on Adam giving it to us straight. Stay away from the pumpers all they are doing is pumping for sell of more dinars. I am as
guilty of reading the BS from the so called guru's as other people. This is my opinion
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I agree with you Airforce17
Maybe the Guru's were out spending their money made by pumping people to buy more dinars HA HA HA
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They sure are trying to sell more dinars with more lies keeping pumping us
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I went to World Bank site could not find any info saying had finished its restructuring. The article says have completed the plans and technical, financial and legal to develope the good performance of the bank and state owned Iraq and restructuring. The way I am reading this is they have plans to develope this
not completed. The site above is some kind of church group.
I looked all over the www.worldbank.com site could not find anything to this completed. Also looked under Iraq at WorldBank site.
Hopefully someone else can look to verify that this is a true statement Sorry 2Pandef3 you are reporting what you have read but does not
seem to be as accurate as presented to us. Sometimes these church groups puts more into an article than really should be. IMHO
I hope I am wrong
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Mydogz
Be careful what you say they now may come out saying we have a LOP I sure they are reading our messages
don't it seem funny one comes out with some outlandish story then they all come out with something almost
the same or try to top the first lie
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Hopefully
Keep in mind this is Iraq, this government does not do the normal way of business.
as you can see from different reports about Iraq I believe we be in for surprise not for good
of us. Sure hope I am wrong. IMO
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Adam
We appreciate all your work you are doing and keeping us informed of what is the real truth
rather than what we read about all the dates of RV coming out of the woodwork
May the force be with you
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What a bunch of garbage do we have people beliving this????
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Great report lets hope RV soooon
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Markinsa
Don't know if you caught this good article. :Look down middle of article: In a move aimed at the developement of the payment system Iraq has announced that the Central Bank of Iraq's recent plan to restructure the local currency by raising the level of local currency and the development of categories of paper new step was the result of deterioration experienced by the Iraq dinar during the past two decades has took the value of the dinar's stability, especially after the increased central bank reserves to 250 billion dollars
Go RV
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Can anyone grt on site to verify this in news??
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Don't know if everyone saw this article dated 6-23-2011 from site www.mriguide.com/updates.htm that FXStockpiling
had given us under caption Republic of Kurdistan money anyone notice the 100 Kurd Diraw.
Go to site under Iraq click on courtesy of Wolfgang Schuster and Rferl article is Iraq said to be planning Currency overhaul
by Mudhhir Muhammad Said member of central bank advisory panel.
said a two prong plan of restructure of the national currency.
On shorter term larger banknote 50,000 & 100,000 and on longer term redomination is needed wherein three zeros will become
will be dropped and the 25000 banknote will become 25 dinar banknotes.
Sorry if someone else brought this article out and I'm note sure how to paste the article from site maybe someone can pastes Thanks
How M1 and M2 is valued for Iraq
in Opinions, Perspectives, and Your Two Cents on the Iraqi Dinar
Posted
TFK
I believe you are correct on this thing coming in low
Its my opinion they will start this out between $0.10 to $0.30 not in the dollars that a lot of people are saying as well as the Guru's.
Even coming in low we have made a good return for our money not rich but healthy return.
They will keep this down for 3- 6 months and start increasing this til they get rid of large bills leveling off to around equal to the
US dollar getting people cashing in large bills then bring out the new bills. From that point increasing to 2-3 dollars or more. This way
they have made tons of money without giving away the house now being in a excellent position on world wide currency markets.
They did say nexrt year wanted to start selling bonds they would have plenty of capital for this. IMP