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FireandIce

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  1. Dinar Trade wants to clarify the circumstances behind the organizers' decision to discontinue Dinar Trade's sponsorship of Iraq Finance 2012 in London, England. The conference is intended to bring together senior Iraqi finance ministers with leaders of the global financial community and has a long and varied agenda dealing with many aspects of Iraq's reconstruction. Management of the Iraqi dinar will not be part of this conference's agenda, as recently conveyed to us and a part of the reasoning behind the conference organizers' decision. Once Dinar Trade announced its involvement as a sponsor, interest in attending the event from Iraqi dinar investors overwhelmed the organizers. It also concerned the government representatives who felt that currency issues would overshadow the conference's broader agenda. Therefore, we agreed to comply with the organizers decision to end our sponsorship, so that more fruitful discussions can be held in subsequent meetings. As evidence of Dinar Trade's former sponsorship of the event, please see the attached screen capture from the organizer's website, which clearly displays Dinar Trade's logo in the sponsorship section. Let us be clear. The conference agenda never included the topic of revaluing the Iraqi dinar. Furthermore, it was our intention only to provide insight and information about US holdings of the Dinar. We have consistently communicated that the Iraqi dinar is a long-term venture tied to the economic development in Iraq, not a short-term asset with undue returns. We will continue to provide transparent and thoughtful information about the exchange of the Iraqi dinar and other exotic currencies and we thank you for your business with Dinar Trade. Should you have any questions, please contact one of our trained representatives, or visit www.dinartrade.com. Thank you for your continued support. https://www.dinartrade.com/dinar-trade-clarification-of-sponsorship-of-iraq-finance-2012.htm
  2. This is from August 19, 2004. The entire article is posted under it.
  3. I ran the JD through other translators and it means "equates dinar". One translated to KWD. I don't think it has anything to do with a comparison to the Jordanian dinar. Decreasing the supply of dollars will appreciate the dollar against the IQD - depreciating the IQD. That has been the case with dollars moving across the borders of Iran and Syria - decreasing the supply of dollars in Iraq causing an appreciation of the dollar due to demand.
  4. There is no question in this Shabibi interview from April 2011 that he is talking about redenomination. You can hear it for yourself. A transcribed portion of the interview. John Arlington, VA: With respect to the ongoing need for stability in Iraq and its exchange rate, would it not follow that there is a direct need for a potential revaluation of the exchange rate to induce both foreign and domestic investment? And with regard to that, how far do you believe that we are from a potential revaluation of the Iraqi currency? Shabibi: Well....even if I know sir.... I cannot tell you...the question here is a revaluation....controlling inflation...objective at the cbi website is maintaining price stability.... revaluation depends on...to what extent we can continue controlling inflation.....if this inflation continues, we are going to revisit the question of exchange rate .....revaluation depends on inflation.....we look at all the obligations....exports/imports.....balance of payments....definitely...no doubt.... we'll look at those....those are problems with the development part of the economy....govt is spender....cbi is saver....(3:50).....the queston here is that we are going to track and follow inflation and other factors that I mentioned, second we are going to determine our exchange rate movement..... bob kelly: investor in iraq: Summit Hotel..OPEC investment::: asks about a report where 3 zeros will be cut - Redenomination Shabibi::: 3 zeros: cutting the 3 zeros is a...has of course...shouldn't be exaggerated actually the problem....the question is.....just redenomination....you see a lot of people that are writing a lot of articles in the newspaper..criticizing the cbi....iraqi dinar is going to depreciate...all kinds of talk....this is a question of facilitation.....ease of counting...and of course when you see now a lot of figure.....you see trillions....to be precise 12-15 digits...when you see a lot of figures....i mean....trillions...huge figures....precise....i think we have a plan on that.....you remember ...there was never a govt decree to add the zeros, they happened because of the development of the economy in the 80's....inflation was rampant...small notes were not being used....so govt started to add the 3 zeros at the time....conditions are different now....inflation is under control....when you had zeros .....not because of the central bank....there were a lot of exogenous factors....external factors.....and affected the ...and therefore a lot of people didn't know what to do so they started to add zeros....now this time is different....you had high inflation, now you have low inflation...stable macroeconomics....i think to bring back the Iraqi Dinar...where 3 zeros are removed.....of course this will go hand in hand with monitoring the exchange rate....we have studied that....implementing that...when to remove the 3 zeros....very soon.... ok....at the end Shabibi says that removal of the 3 zeros will be very soon and it will require a lot of ...a...a..propaganda.....errrr....advertisement....advertisement campaign...to educate people....and they will need a lot of help from the govt and especially the security forces........and hope that they become less busy with violence so that they can devote more time for us
  5. Another example of how the U.S. Federal Reserve Bank is out of control ::: "As you will see documented below, the Federal Reserve actually handed more than 16 trillion dollars in nearly interest-free money to the “too big to fail” banks between 2007 and 2010." "According to the limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the grand total of all the secret bailouts conducted by the Federal Reserve during the last financial crisis comes to a whopping $16.1 trillion." read more..... http://www.infowars.com/have-you-heard-about-the-16-trillion-dollar-bailout-the-federal-reserve-handed-to-the-too-big-to-fail-banks/
  6. First, this is a rough translation and very confusing. Dr. Bakri::: "This does not affect the value of the dinar so far but it opens the dinar to the free currency market such as against the dollar, etc." This quote is saying that deleting the zeros "does not affect" the value of the dinar, and then later he says that "If three zeros were lifted from the IQD this means the IQD becomes stronger 1000 times in terms of value." This is contradictory, and until an accurate translation turns up, there is no way to tell what this really means.
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