_RFJ

I'm going to start a newspaper. Then I'm going to write six articles and release them on a two per month rotation throughout the year. Think anyone will notice?

^That's way above my paygrade and I hate talking conspiracy mumbo jumbo so I'll just leave it at that. Sometimes, however, I do wonder if the stage of iraq is really just theatre until whoever it is we aren't talking about is ready. God I hate talking like that. Sorry DV.

I'm beginning to think that Iraq is just as in the dark and confused as we are as to why we're still waiting. I mean they may do things differently over there, but they're not dumb. Maybe the GOI/Parliament/CBI are continually being told... Hurry up and wait. ...anf that's why we see the same articles again again and again.

Well, they did calculate the budget for next year, and the year after that, and the year after that, at a rate much higher than .1166. Haven't done that before.

Two things... First off, I think based upon the fact that the CBI knows, and controls, how much Dinar is out there Iraq could indeed play their hand because they know where all the cards in the deck are, both at home and abroad. In fact based upon the fact that they have been under sanctions and, in effect, in the dark for the last quarter century, I think that's exactly what they're doing. They do this in an effort to both educate citizens and build confidence in the country they are trying so hard to rebuild. Second off, this time last year they were under economic sanctions. Any hype around this at that time was guru misinformation. Nothing was ever going to happen until they were out of chapter 7 as related to the value of the dinar no matter how you slice it. There are some who will tell you it was supposed to happen in 2k11 but "something went wrong." What went wrong was they (Iraq) weren't ready and haven't been until recently. We have the coming budget(s) being worked on now at a rapid pace, years in advance, using the rate of 1.18. We have the economic reform bill on the table. We have members of Parliament openly calling for this to happen on the Parliament floor. And finally we have the now infamous National Conference that we have been waiting on since the day we purchased our dinar coming in two weeks from yesterday. We have the Document of Honor on the table, power sharing, article 140, the movement of money throughout the provinces, Kuwait happy, and again, no economic sanctions to contend with. In the face of all this it's still Iraq but... This is so not like last year it's not even funny.

How they would lose has been answered more eloquently than I could in the previous post but since you asked keep... They would lose in the exact same way you and I will lose if it lops. You can't tell me for one second that all the major global players, and even a few not so major ones, aren't sitting on stockpiles of 25K notes. New iso pops, old notes cancelled, and like that, they lose. As to your question about study, a lop being a neutral event, wouldn't have near the effect on the economy, as a large scale currency appreciation would, especially after being under sanctions for 2 decades. As such I don't see near the manpower or study needed in that situation. Why no RV years ago? A large scale currency appreciation as explained above does, however, require all those things and all those things require, above all, time. As such the chances to "just RV" years ago were nonexistent.

If I recall correctly members of parliament were demanding the CBI disclose to them the what the rate of exchange was going to be, in order to prepare this. The CBI did not. So they went ahead and calculated the rate for the 2k14 budget at 1.18 knowing something is to happen by then. 1.18 to us that would mean .86. I'm of the opinion there's no way we're going to see a new ISO. Yeah, yeah, yeah, Turkey, Lebanon, blah, blah, blah but I don't buy it. I'm not in on a "global currency reset" by any means but I do think many countries stand to lose if they lop the currency. They could have just lopped it long ago and been on their way if that would have been their intention. No need to spend years upon years studying, analyzing, calling in the international community etc. for a task such as that.

She came in late last night after this chat and posted what I will copy below. I didn't include it originally because I hadn't seen it yet. The thing I like about what she says here is she never deals in intel or bank stories, only news. So when I see a bank story from a news hound I tend to give it a bit more weight... [millionday] a member we have has been talking with the bank they use and specifically the bank employee that is in traing of the entire policy to cash in the dinar --- the policy and form they have been learning about in the last week etc goes into effect in sept and this training includes the form that will be used to send the dinar that has been verified to the bank that will be finishing the process and sending the credit for their bank to apply to the banking customer`s account. they have a room set up to do this in private and it includes some type of machine that looks like a bill counter (i would asume a del a rue) and this training will continue for the coming week, the form includes information of the usd rate, the date of the exchange, and the total that is calculted by these figures -- among information about the consumer/account holder --- this was given to me tonight and i have been given permission to share without names-ranks- and serial numbers -------------------------------------------smile

Looks like Tuesday we'll shoot for another date for the National Meeting, hope they get it done this time. More below: [millionday] so lets start with this emergency millionday] here we go [millionday] Awan Explained the General Secretariat of the Council of Ministers, on Sunday, that the Council has decided to exempt foreign companies implementing the project of the port of Faw from taxes and fees. According to a statement issued by the Secretariat of the Council of Ministers received "Awan" a copy of it that "the decision of the exemption that carried No. (356) comes in application of the law in force that the project falls within the development projects." The statement added that "the Board's approval came at Maardh of the Minister of Transport, in an emergency during the thirty-seventh session." [millionday] this i found interesting due to it being referred to as an emergency -- hmmm [wmawhite] millionday ...could they be in a hurry?? millionday] it seems that they are in a hurry in everything they are doing [millionday] i hope they keep it up [millionday] smile [millionday] brb with more millionday] this is something i found last night and would like to talk about for a minute [millionday] , forcing a number of government departments, employees receive their monthly salaries categories of cash very small up to the category of “250 dinars” and certainly that these currencies Small exist between them damaged and torn because of the large Tdoualh in the market reverse groups large. and because of monetary policy lagging in Iraq, the state project in the deletion of zeros from the national currency or issuance of the coin Majlan for unknown reasons. confirms senior officials in the Ministry of Finance that the issue of receipt of the damaged currency and replace it with a new process is vested in the Central Bank is solely responsible for this thing, and it must follow the plans set in love with those currencies of the market without causing any impact of it. [millionday] now let me have the floor and tell you about this piece of info [millionday] they were discussing in a meeting and this is a report that came from it --- the citizens are complaining about [millionday] the condition of the currency because they have as we see here --- taken the currency out of circulation that is higher then a 250 dinar and some are in such poor condition that the [millionday] merchants are no longer accepting them due to the inability to even know what they are for certain so here is what they have said [millionday] the report stated that they took the largest out because cbi was expected to activate the monetary policy and for "reasons unknown to them" they have not moved forward with this so, [millionday] they have now started with this ingenious plan and they have the banks giving out what they call a , "receipt slip" that is to [millionday] record what currency it is supposed to represent -- we know this as an "I owe you" ---- i would like to say this [millionday] i dont think that is going or is expected to work for very long at all with the citizens or even for a tender policy millionday] so obviously with the press statement we had that all lower denominations are distributed to the exchange banks that are going to take part in this ---- this is a sign that they are expecting it to be activated in the very near future [millionday] smile -- [millionday] i would assume that receipt slips are not something that is going to be working for very long at all [millionday] and i would also assume that if they would arrive at this conclusion --- it would be short term at best millionday] isnt that shocking ? [letsroll] i know i would not take a IOU very many times ..smilen [monique13] Can you imagine getting an I owe You from Chase or US Bank? [millionday] or i should say strange [monique13] Very trusting.... [faith1] question is ,,, can the people shop with receipt slips??? Prob not,,, [millionday] i would not take it so i can imagine the trouble they are having there with this [wmawhite] millionday ........They wouldn't go to this route if they did not have a date already set. [monique13] wmawhite now yer talkin' [monique13] lol [millionday] remember when they had to pass a law stating that they could not throw away the money --- that was a long time ago [millionday] yes they do have a date set for this to be activated -- we just dont know what it is [wmawhite] millionday .In other words...........they wouldn't go with receipts without a date set because it would run open ended. [faith1] and they now have to get permit to protest right,,, ohhh they need to move [millionday] exactly -- you are right in my opinion this would not be happening like this at all if not [millionday] faith1 lol [millionday] monique13 smile [millionday] brb with more [RickeyT] why not use U.S. dollars? They still do the auctions... [monique13] smile [monique13] RickeyT good question... [jimplants] talk about a chance for forgery [millionday] RickeyT they are put into their reserves at cbi after the gov brings them and sells them at auction [millionday] here we go with this [millionday] Represents the law of economic reform , passed by the Council of Ministers recently glimmer of hope to all those concerned with economic experts and the private sector in particular because he axis foundation in economic work after the transition towards a market economy , especially as the new law to deal with the economic reality in accordance with the principles of a free economy , where it came from assurances that stage that follows the adoption of this law will revolutionize major development in all sectors as provided by the law of climates safe working environment attractive for international companies and their capital . genuine transformation specialist in economic affairs Saif Hilfi said in an interview for the (morning) that the law of economic reform represents a turning point an important and positive role in the real transition towards open market economy , where the focus has been on the adoption of a market economy and the formation of the top of the economy. [wmawhite] RickeyT ....In order to move into Article 8 of the IMF they need to conduct commerce inside Iraq with a single currency [millionday] note -- this is a release to citizens about the economic reform [millionday] this is the best part of this part of the release >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>. stage that follows the adoption of this law will revolutionize major development in all sectors as provided by the law of climates safe working environment attractive for international companies and their capital . genuine transformation specialist in economic affairs Saif Hilfi said [millionday] He added that Iraq needs at this important stage to rise development and economic through the promotion of the investment process and the influx of foreign capital wishing to invest in Iraq, especially since he has the elements and kegs investment in more than five large sectors such as oil , trade, agriculture , electricity and tourism. He pointed out that all of these incubators have promising investment opportunities will create a great environment for investment and actively Ostglet development would lead to a renaissance of large and influential in economic life. [millionday] note -- there are the many things we know and here is more that makes sense [millionday] love that they are releasing this to citizens -- makes sense right now [millionday] He noted that the law came to address the economic problems , where already we need to form a new higher council of the economy. He pointed out that the Iraqi economy is going through now in transition still REO blurry and clear in the turn of the Iraqi economy Constitution and desires and political requirements of the post- change confirms that Iraq has admitted he went to a market economy has shifted from the idea of ​​a centralized economy and government control of the joints of the economy to absolute faith in the market economy and the application of concepts economic openness and freedom of markets and establish priorities of international trade , but on paper. [millionday] whooop whoooop --- post change !!!!!! ----------- [millionday] He said that despite the twists and turns of economic Iraq is still suffering from the presence of ballasts for economic progress and the opening of markets , represented by the presence of staff still believe the economy totalitarian and apply the priorities of state control over all joints and economic life of these have a direct impact on the reality of the economy, as well as there are a number of laws and legal materials that hinder the application of concepts theories of market economy and the move of the establishment of a higher council for the national economy is the need for an urgent and important because they contribute effectively step in the removal of all obstacles that stand in front of the overall development of the Iraqi economy and that impede the progress and moving to a market economy. [millionday] economic progress millionday] note -- they have the supreme economic council in place right now ROBINREDHED] we like progress [millionday] According Hilfi importance that there be coordination at a high level between the administration of the proposed Council and the Council of Ministers and the same time the ministers concerned the economy such as oil and Planning and Finance and the Central Bank of Iraq , as well as some private Iraqi banks and the actors and the number of owners experience and competencies involved in economic affairs and some representatives of unions actors as a link Iraqi banks and economists actors who have a long tradition in explaining and developing mechanisms monetary and fiscal policy in the country , because this serves the activation of this Council and its decisions in the formulation of policy concepts the three fiscal, monetary and economic policy that have a role in understanding and policymaking three and identify approved the next stage and the mission in Iraq , we need to address economic policy. [millionday] these are obstacles they have come up against [millionday] He predicted Hilfi that the Council's active role in identifying the obstacles that stand in front of the economy and in front of his success and strengthen the concepts of a market economy and diagnose the negative things that hinder economic progress as well as identify and diagnose the laws enacted in the time before and the time of the application of socialist systems , which does not correspond with the concepts of a market economy and try to change this laws and the creation of a new legal environment is to create and enact laws that serve the new transition process in Iraq and that all of these things contribute to serious actor in economic development with the participation of civil society organizations , unions and economic unions . [millionday] and the i owe you notes !! lol [faith1] jimplants jimplants I agree,,, seems it would be a great concern,,, (I Owe U forgery) [millionday] now there is one thing i saw that was interesting today too --- they have released a report of cbi work towards inflationary controls and called it the previous period report ---- and they also referred to the next report about their work coming up will be after the coming period [millionday] jim -- wouldnt that be a mess here -- good grief [millionday] lol [millionday] brb with more [millionday] wow would love to have a copy of this [millionday] Finance Minister Ali Yusuf agency Shukri completeness of the federal budget for the year 2014. Shukri said in a statement received by Ambassador News Agency a copy of it on Sunday: The federal budget has been completed for the year 2014 all the paragraphs and will be in front of the Council of Ministers next week. [millionday] so the next years budget is done and they have announced that it is in the new rate and so is the 2015 [Peace Love Happiness] They have the 2015 budget done already? [millionday] brb with more [millionday] no they have said it will be in the new rate and they have been working on it but have not announced it done [wmawhite] millionday ........amazing,........they have been in a hurry if they have the 2014 budget finished. [millionday] this is very interesting [millionday] here we go [millionday] Academy called an economic government for the quotation of a number of special economic experiments advanced states have passed similar circumstances circumstances of Iraq for the purpose of development of economic sectors . He said Tahsin Ali told the (morning) that there are several states have passed conditions similar to the conditions experienced by Iraq (k Germany and South Korea ) and other countries that girl its economy from the ruins of war and rubble of the wrong policies . Said Ali that Germany began the process of economic reform of through reform of the banking business and the establishment of the largest bank to finance projects of industrial productivity , adding that it led to the establishment of industrial revival in the country and put him in the ranks of developed countries . [millionday] He noted academic economic to it is possible to benefit from the experience of South Korea, which has developed its economy through an alliance with businessmen and investors and attention to industries existing and developing them in addition to the expansion of the commercial capital and then turn it into industrial investments and fiscal policy in the interest of industrial companies President , and the establishment of Export-Import Bank to provide the necessary financing for exports. [millionday] He pointed out that Korean policy included reducing government intervention in the economy and the privatization of commercial banks and work to cancel a number of laws and regulations impeding the economic activity and to seek regional balance and provide a basic system of social welfare . Between the economic state actors could provide feasibility studies in this regard and to consider the possibility of quotation experience of these two countries because Iraq needs a government reform of the banking system in addition to the advancement of the domestic industry and the development of production in order to achieve self-sufficiency and export the surplus of it. [millionday] so it looks like they will be making some phone calls for help maybe as they are talking about who they can lean on -- smile [ROBINREDHED] lean on me [millionday] i know one thing -- i would not want the job [ROBINREDHED] me either [millionday] smile [millionday] good grief the head ache must be horrible -- lol [millionday] brb with more millionday] great announcement to the citizens [millionday] Prime Minister Nuri al-Maliki government adopt to the demands of protesters calling for the reduction of pensions for the three presidencies and special grades , which he considered "legitimate" and unconstitutional, and will be presented to the cabinet meeting on Tuesday , noting that these salaries is unconstitutional. Maliki's assertions , coincided with a meeting of the ministerial committee in charge of considering the demands of the demonstrators , which decided, after meeting her yesterday , canceling pensions for the three presidencies , and to prepare a draft of a new law , the actual years of work depends . [millionday] Maliki , during a special permit made ​​by the Iraqi satellite channel , considered that " demonstrations, which came out in several Iraqi cities yesterday is a legitimate right guaranteed by the Constitution " , declaring his support for the demands advocated by the demonstrators , Zakir said those demands "is a point of view we adopt it . " He drew the Prime Minister, that the government is committed to providing climates democracy adopted by the Constitution for all, stressing his intention to view the demands of the demonstrators in the Cabinet meeting for tomorrow, Tuesday, in order to find a formula bill calling for the abolition of those salaries , and submitted to the House of Representatives , which called on its members " to interact with the demands of the masses. " [millionday] He hinted al-Maliki that the demonstrators expressed their demands, have been adopted by the government, and that the Council of Ministers decided in earlier times reduce the salaries of the higher grades and raise the salaries of the lower , stressing that it is a constitutional standpoint does not have a salary or retirement of a member of the House of Representatives , which calls for a re- consider that issue . And the prime minister during his speech that the pensions of deputies or members of the provincial councils or local straining the state budget and the transformation to a consumer society . " [millionday] Came calls for the Prime Minister of this , at the same time decided through the Ministerial Committee formed to consider consolidation of the salaries of the Worlds in the government sector , following a meeting chaired by Deputy Prime Minister for Energy Affairs Hussein al-Shahristani , canceling pensions granted under special laws , positions and functions, such as the Interim National Council The national Assembly and the House of Representatives and the electoral Commission and others. " [millionday] It also announced that the Committee of Ministers , according to a statement received " morning," a copy of the draft pension law the new unified includes all state employees equivalency of pensions according to years of service starting from the President of the Republic to the youngest officer in the state, whereby the recalculation of pension annually according to the levels of inflation, the annual Iraq , in order to maintain the purchasing power of retired to his salary , as well as the inclusion of all workers in the private sector , including the owners of professions and trades and construction workers. millionday] so they announced by satellite that they have received the demand of the stop and reconsideration of the pension law --- they should be very happy and also the fact that they will be addressing the rest of them on Tuesday -- i am sure this is fantastic for the citizens to just be heard is a good thing [millionday] brb with more millionday] i dont see anything else we care about [millionday] i see that many many things are going on tuesday but we have already addressed them [millionday] they will be setting the date for the national conference and also the activation for many reforms --- we know that the military is working hard on security in iraq , and also the citizen demands are one of the things on the table for tuesday as well [millionday] i have to say the most shocking is the receipt notes of course and we have everything crossed with this little tidbit [millionday] the release of the last period has been given from cbi and they have inflation at 7 % [millionday] the report to the citizens about the call for advice from the countries that have gone through this is also interesting and the 2014 budget being done tells us that they have no doubt of the new rate because both 2014 and 2015 is written in the new rate [Dovi] Millionday what is the Tuesday meeting if not the national [millionday] good to see everyone and know that everything is not in the news and they are keeping many things on the hush hush including the date [millionday] they have announced that they set the date [jimplants] thanks I will buy you and your husband dinner when this is done [baxter1243] Its hard to believe they are actually using IOU's........we have to be very close to the end.... [millionday] tuesday is a press conference that is the release of the dates of the meting and reforms [ROBINREDHED] YAY [millionday] jimplants sounds good -- we will fly in our jet smile [millionday] Baxter1243 i agree

Hello Adam...could you please explain to us the Economic Reform Bill and what, if any, significance it has to the RV? Thanks!

I know you guys don't like to sit there and read every word of her long chats / news analysis so I'm going to bring only a small portion... Was the article below brought up in the DV News section? I took a quick look and didn't see anything but I'd love to read opinions on it. Seems parliament is questioning why, after the Chapter 7 exit, the CBI has yet to increase the value of the currency. If true this would lead me to believe that removing the zeros and increasing the value are, indeed, not the same event. millionday] Member of the Parliamentary Committee on the economy and investment the Kurdistan blocs Coalition mahma Khalil sinjari Committee soon to host the Central Bank Governor and officials to find out what planning and preparation of policy just to sell the dollar and raise the value of the dinar. He told a press conference today that the hosting will be the cause of the failure of the Bank to invest in Iraq out of Chapter VII to enhance the value of the Iraqi dinar against the dollar. " Sinjari said "today the Iraqi sovereign balance across more than $ 76 billion in World Bank and there was a constant increase of the balance, and out of Iraq from Chapter VII is not reasonable to keep the exchange rate in the market more than 1,200 Iraqi dinars" prompted the Central Bank to improve the Iraqi dinar against the dollar. [millionday] The Central Bank failed to exploit the historic achievement and is out of Iraq from Chapter VII, which was supposed to raise the value of the Iraqi dinar against other currencies. Sinjari said "we in the Commission call for officials at the Central Bank, is preparing a new strategy and policy and plan active time period for raising the value of Iraqi dinars for the advancement of economic reality and goal." "There must be a constant balance for Iraq compatible with the sovereign balance" [millionday] now as we know the release of the country from sanctions would have been huge if the steps expected were taken and here we see the kurdistan region asking to meet with cbi to ask what the heck is going on [millionday] so now let me bring something else [millionday] brb [millionday] here is how parliament feels about the lack of the change in value [millionday] Economic parliamentary calls for the central bank put a new strategy to raise the value of the dinar for the advancement of economic reality and to achieve the desired goal The parliamentary economic committee confirmed that the central bank has failed to invest out of Iraq from Chapter VII to enhance the value of the Iraqi dinar against the dollar confirming that it will host a proxy bank governor and officials to find out the reasons [millionday] He said the Commission's decision Mahma Khalil during a press conference the parliament building and attended by the correspondent Agency for News News (et) The day balance sovereign Iraqi through more than $ 76 billion distributed in international banks and there is increasing balance and out of Iraq Iraq from Chapter VII is not reasonable to stay exchange rate in the market more than 1,200 Iraqi dinars, demanding the Iraqi Central Bank to improve the Iraqi dinar against the dollar. Khalil said that the central bank has failed to invest historic achievement which Iraq would emerge from Chapter VII, which was supposed to lead to the lifting of the value of the Iraqi dinar against other currencies. [millionday] He added that we are in the economic demand that officials at the central bank to develop a new strategy and policy and plan effective over a period of time to raise the value of the Iraqi dinar for the advancement of economic reality and to achieve the desired goal. Between Khalil that there must be a constant balance of Iraq fits with sovereign tally, stressing that there will be a host for acting central bank governor and officials to the Commission to find out what they are planning to him and put a correct policy to sell the dollar and raise the value of the dinar. [millionday] so as we see parliament wants the cbi to raise the value and if they will not they are going to place a proxy gov that will -- that will tell us that they are all for the economic reform law [millionday] as we see [hstrymknwmn] Didn't Turki say he was ready and it was up to govt? [millionday] cbi has the job of holding and setting the exchange rate and also the application of the monetary policy ect [millionday] in this instance and with their independence -- the gov is not happy with the leader of cbi in place [millionday] they are saying that they are going to put in a proxy gov and see what is going on [millionday] and this is why [millionday] the end of the quarter is on the way but the largest thing is that we saw that they activated the contracts and agreements with the foreign countries that have made them with iraq [millionday] this is not going to be a good thing at a false rate -- so they are wanting to be respected in these agreements and also move forward which is impossible without the economical reality applied to the rate millionday] now some people have stated that the part of the market that went down was the forex side and that it was to connect for lack of better term the changes to the market -- we have no proof right now on that but it does not make any sense at all that hackers got into the stock market at that magnitude [millionday] i will say that [millionday] so what we know is that parliament is making press statements that they are going to pull turki and officials if they do not change the rate which was the benefit of being released from economic sanctions [millionday] that makes sense

Who knows, and I'm not doubting you but... Didn't they calculate like the next 3 budgets already with a rate? Like 1.18 / 0.86 or something like that? If they were going to wait more than a year for an increase why do that?

I've been in this for years and every time an article like this comes out people start hollering "smoke...smoke...smoke..." yet here we still sit. Everything I've seen labeled smoke, from countless delays delays on down to Shabibbi's ousting, has wound up being the truth. As such, I don't believe smoke exists in articles such as these. Go RV.

Well not to sound like a broken record but I do think they are broadcasting / spelling it out / educating their people on exactly what they are doing. People who, in effect, have been in the dark for the last 20 some odd years. It's a process, not an over night affair, and a process that was officially kicked off June last.

TLDR: Based on this article I think we're close... Now here's why... Personally I think this, in combination with the other article today RE: Currency Reform Bill (or whatever it was), is huge. I've been of the point of view for a while now that this isn't going to be a over night / all of the sudden type of "pop" for those of us that study the news. Contrary to popular belief on the boards I believe that they are indeed in the middle of telling the world exactly what they are doing, aka, announcing the worlds largest currency appreciation in history. I mean they're calling for a start date on the parliament floor. I think it's all going to be laid out before us, in the news, as the project to delete, remove, raise, whatever, the 000's, moves from speculation / opinion by economists all the way through parliament via the passing of laws such as these, and the other crucial laws we know need placing a la the HCL. The currency reform project was officially activated several weeks ago as we saw in the news. I believe this is a fruit of that activation. Everything will culminate in the forthcoming National Confrence where we'll see the basket of laws signed, sealed, delivered, and activated. Soon after that we'll see the movement we've all been longing for over the last "x" amount of years. What, exactly, that movement will look like one can only guess. I, however, am one that falls into the .86 to 3.44 camp, airing on the side of closer to .86. The calculated rates in the 2014 - 2016 budget(s) give me great hope of seeing this movement sooner than later because I also believe they will want all of our larges picked up before that point in time. The CBI isn't dumb and they know they have to show us something ofsubstance in order for people like us to give ours back. I've been in this just as long as everyone else up in here and am looking forward to seeing this done, if not by months end, then by the end of the year. If...IF... 1/1/2014 rolls around with no change, based upon the budget information I mentioned above, I will be looking for a rate upon activation of said budget on whatever day they get around to activating it. If there's no rate then, at that point, I'll have to rethink some things, but my hope is I won't have to.

Frank dressed in red brings images of a David Lynch film that I can't get passed. Top hat and everything.

I must admit I ran that through three different on-line translators and received the same results. Seems strange to me. noting that Iraq is not the only country to LEADING zeros from its currency, the preceding example States Turkey and Lebanon have succeeded bestWhen the economic situation resolution deleted zeros from their currency. That doesn't make much since without a verb before leading.

Yeah, what else is there to do? Be pretty boring if every thread was like... Post 1: "GO RV!" Post 2: "Yeah GO RV" Post 3: "+1"

First off I'm not an expert and, admittedly, some of my terminology may be a bit off but... I have to disagree with you here keep. It is my understanding that the nominal value isn't the face value at all. The face value of one dinar will always be one dinar, even if the rate of exchange declines or increases because, it's printed...on the face...ie face value. In the event of a decline, or increase in the market, the nominal value, however, will fluctuate to reflect the current climate of the market it is in.

My dinar floats when tied to a balloon.

I can't argue with the LOPsters up in here as effectively as Tlar can. Below he addresses everything, even Turkey and Lebanon... Mehma Khalil called Central Bank currency structure project August 8, 2013 Tlar: "The CBI had said in August that it planned to delete the zeros of the Iraqi dinar " This is the second time it is mentioned. The first was a guy on the finance committee and now Mehma Khalil again tells us also that the CBI said they were going to delete the zeros in August. That is two different guys who should be in the know stating the same thing that this will happen this month. The finance guy went also so far as to say that the CBI told him that they would also release the smalls. We know that is an impossibility at the current exchange rate. So what they both are insinuating is August will bring a big change to the currency. They both say that this information came from the CBI and this info comes on the heels of the one on one meetings Turki just had with all these guys over the last two weeks.. Again we see 30 trillion dinars which is the same number that has been repeated in all articles since early last year when Saleh used it. It is a stock number that the news uses again and again and will continue to use until a new number is finally reported by the CBI. The CBI has been very guarded in not releasing any new numbers and personally, I don't think they will release any new numbers before a change in the currency. Tlar: , although the end result will be similar as both countries deleted the zeros, the act of Iraq doing so will be completely different from the way Turkey did it. In Turkey we see a true lop of the zeros off the currency bills themselves. Iraq does not intend to knock the zeros off the currency, but rather they will knock the "leading" zeros off the exchange rate (nominal rate". Of course then they will introduce the new lower denominations in which the zeros are removed. Iraq has stated the old currency will be at the new rate and will still be usable for at least the next two years. Removing 3 zeros from the exchange rate makes the rate .86. Effectively making a 1000 dinar note worth $860 dollars. A 5000 dinar note worth $4300, a 10,000 note worth $8600 and a 25,000 worth $21,500. Assuming they are following the original 2008 plan, it was though by Shabibi that these notes would be brought in to be swapped for the new currency. Most Iraqi's would set up bank accounts and only leave with enough smaller denoms that that they needed to operate with. This was Shabibi's plan to get Iraqi's using the banks again and to capitalize the banks themselves It was a win, win situation for the banking system in Iraq. The word "nominal value" has been used in relation to the phrase "delete the zeros" since late 2009. Removing the "leading zeros" was recently used in an article by an economist. The term "redenomination" first appeared to my knowledge in early 2010 and was used as a means to describe the releasing of the smalls. It was the term released to the forex's by the CBI and they always put the phrase up "Iraq intends to redenominate their currency by the end of 2010" at the bottom of the dinar listing. This is obvious that Iraq must add new lower denominations because of the increase in the exchange rate. It is just as obvious that an Iraqi will find it as burdensome as you or I would to walk in to a convenience store to buy $20 dollars worth of goods as you ask them to break a 5000 dinar note and give you change. He will be driven in to the bank because these larger bills will be almost useless day to day in transactions. One more thing. Shabibi stated that they we going to pring the new bills including the fils. It has been laid out to us numerous times along the way what the denominations were to be. He also considered pulling only the 5000, 10,000 and 25,000 notes as the banks target to be removed. He wanted to leave the 1000 to circulate as the interim note between the old and new exchange rates. Although he had said there were no plans to print a new 1000 dinar note, this note would be left to circulate even after the change in exchange rate. All other denominations including a new 50 would be printed under the new system. To summarize, Turkey was a lop. Iraq will be an increase to the exchange rate. Both require redenomination. One last thing. In June of 2008, Iraq's parliament voted to make 1000 fils equal one dinar. They could have made 100 fils equal one dinar. They chose the 1000 fils which if you look at the ME, almost all the high currencies have 1000 fils equaling 1 unit. This was the very first indication to me that Iraq had designs on a valuable currency.

You were privy to the plan? I can say so was I just as easy as you. I was there, I've kept in touch with my contacts, plan is to raise the rate then delete. See? Easy.

Read Med much?

^So what are you hoping for then? Edit: or have you lost all hope altogether? Not trying to be snarky, just asking here.

^Removing the zeros by drawing in the larges and raising the rate of exchange. inb4 lopster hate and mockery.