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After endorsement of the decision to delete the zeros .. Central set two years to replace the currency


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After endorsement of the decision to delete the zeros .. Central set two years to replace the currency

January 14th, 2012 08:49 pm

After the Board of Directors approved a resolution to delete the zeros after the completion of the new currency designs, the central bank announced Saturday that the process of replacing the currency will take two years.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh, “said the bank’s board had approved the decision to delete the zeros after the completion of designs currency bearing the legacy of Iraq and its history and the process of replacing the currency will take two years.

It quoted “Alsumaria News” for the benefit, that “the bank will present three categories significantly after deleting three zeros from the dinar in addition to mineral groups,” noting that “the process of switching would reform the system of currency management and ease of use.”

Saleh added that “the three categories consist of 200 dinars, which is equal to 200 thousand dinars at the present time and a 100 dinars, which is equal to 100 thousand dinars, and the category of 50 dinars, which is equal to 50 thousand dinars, in addition to the coin of the category of the dinar and Dinarin as well as half and quarter dinars and 100 fils and dirham “.

http://translate.google.com/translate?hl=en&prev=/search%3Fq%3Dhttp://www.albawwaba.net/todays-picture/61451/%26hl%3Den%26biw%3D1067%26bih%3D433%26prmd%3Dimvns&rurl=translate.google.ca&sl=ar&u=http://www.albawwaba.net/economic/64020/

He pointed out that “the deletion of three zeros from the Iraqi dinar would shorten the number of banknotes of four billion and paper, which is equal to 30 trillion dinars exist in the Iraqi market to one billion and 800 million paper only,” asserting that “the currency exchange will not affect the per capita income or wealth or its contractual obligations. “

Saleh pointed out that “the Board of Directors has approved the decision to delete the zeros after the completion of designs currency bearing the legacy of Iraq and its history and civilizations, as well as for discussion by the Financial and Economic Committee of the Council of Ministers,” noting that “the Bank pending the Board’s approval to begin the replacement of the new currency and which must be with the new financial year and proposed by the Bank with the beginning of the year 2013. “

Salih stressed that “the process of replacing the currency will take two years to prevent any disruption in the process of delivery and receipt,” explaining that “the banks will continue to receive the old currency for ten years as rights and not negotiable.”

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This is a great article, it tells us exactly what they plan to do. My thought here...Is this the last step? We were told this is a three step process and first step has already been completed. What is the second step? Never heard this before, I don't see this as a cut and paste. This is new news. Several of us here on DV have had discussions regarding these revealed details ~ This article basically answers our questions.

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Didn't I read this somewhere before?

Oh that's right, it was on another thread. here I'll sum it all up so we don't have to go through it again.

Response 1. This article clearly says re-denomination.

Response 2. It's smoke and mirrors I tells ya.

Response 3. Just because it clearly says re-denomination, doesn't make it smoke and mirrors.

Response 4. Why do you keep coming in here killing our buzz? Shouldn't you be tormenting a kitten somewhere?

Response 5. It's still smoke and mirrors.

Response 6. It's not my fault the articles are talking about re-denomination.

Response 7. Smoke and Mirrors.

Response 8. I think Alex said something funny..

Response 9. Play Nice People

Response 10. I think it's smoke and mirrors.

Response 10. Blah, blah, blah........re-denomination.

Response 11. Blah, blah, blah.........smoke and mirrors.

There. I just saved everybody 19 pages. biggrin.gif

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Definitely hard to say if this is lost in translation or if it's just being spun. Either way, I'm happy that they're FINALLY talking currency as a focal point, with what seems to be a hint of urgency. They need to hurry up, my liquor cabinet is dry whilst coping with this ride! :D

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After the Board of Directors approved a resolution to delete the zeros after the completion of the new currency designs, the central bank announced Saturday that the process of replacing the currency will take two years.

So we are now waiting on the completion of the new currency designs?

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After the Board of Directors approved a resolution to delete the zeros after the completion of the new currency designs, the central bank announced Saturday that the process of replacing the currency will take two years.

So we are now waiting on the completion of the new currency designs?

So if they are telling the truth, 6 Months, if they already have them designed, it could be Monday. :unsure:

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Didn't I read this somewhere before?

Oh that's right, it was on another thread. here I'll sum it all up so we don't have to go through it again.

Response 1. This article clearly says re-denomination.

Response 2. It's smoke and mirrors I tells ya.

Response 3. Just because it clearly says re-denomination, doesn't make it smoke and mirrors.

Response 4. Why do you keep coming in here killing our buzz? Shouldn't you be tormenting a kitten somewhere?

Response 5. It's still smoke and mirrors.

Response 6. It's not my fault the articles are talking about re-denomination.

Response 7. Smoke and Mirrors.

Response 8. I think Alex said something funny..

Response 9. Play Nice People

Response 10. I think it's smoke and mirrors.

Response 10. Blah, blah, blah........re-denomination.

Response 11. Blah, blah, blah.........smoke and mirrors.

There. I just saved everybody 19 pages. biggrin.gif

lol that's funny!!!

you left out a biggie though

Response 12. Why don't you sell your dinar then? Why are you even in this?

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So if they are telling the truth, 6 Months, if they already have them designed, it could be Monday. :unsure:

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I thought months ago they had already agreed on the new designs??

That's why I stated its a recycled article just written different. Just maybe smoke.. again

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After the Board of Directors approved a resolution to delete the zeros after the completion of the new currency designs, the central bank announced Saturday that the process of replacing the currency will take two years.

So we are now waiting on the completion of the new currency designs?

I read it differently... Try the part up to the comma as one thought, as in... Since it's already been done... Does that make sense? Sorry, only using a smart phone sometimes makes me look not so smart. ;):D

KK

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lol that's funny!!!

you left out a biggie though

Response 12. Why don't you sell your dinar then? Why are you even in this?

And this would in my opinion be the best one that came out of that other article.

Here's a few more questions you can add to Response 12.

Why are people going the extra mile to try and prove this is a worthless investment?

Who do they work for?

What on earth is their real motive?

I'm sure there is more and be my guest and add to this.........oh,....some will see an RV and some will see an RD in my statements above....I'll save you guys some time....its an RV.....That is why I'm in this, just in case you need help.

They are not here for the popularity, all you need to do is look at how many people respect their opinions to see that.

They really only pop in on articles to support the RD and very seldom see them on the real good article that doesn't support their ideas.

Feel free to bump this up the line so all the RD folks can have a look, as I am going to try and get a few more hours of sleep, 4am is just to early on a Sunday.

Just had to get up and take some aspirin, there was a guy on that 19 page post that popped in and kept going on and on about all kinds of crazy things and saying people are stupid for some unknown reason, I could not follow his thinking. I must of been dreaming of airplane loads of USD being flown to Iraq everyday and how stupid I am if I don't stop our government from doing this.......

This dude really needs to stop sniffing glue and get spell check.......I know I'm bad sometimes but I have an excuse......I'm stupid just ask that guy....he'll tell you.... :blink::unsure::wacko: .

Edited by Stryker365
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[quote name=DinarDana' date='14 January 2012 - 10:37 PM' timestamp='1326609435' post='8A

13516]

This is a great article, it tells us exactly what they plan to do. My thought here...Is this the last step? We were told this is a three step process and first step has already been completed. What is the second step? Never heard this before, I don't see this as a cut and paste. This is new news. Several of us here on DV have had discussions regarding these revealed details ~ This article basically answers our questions.

What hit me immediately was "Phase 2". Here we are.

Just a side note: I commented yesterday on an article that state "ten years" for the turnaround of old notes. I thought it was a typo, mistake, etc. Here we have the statement again, so I was incorrect. I will say that this is the first two times I have ever seen the period of ten years for the turnaround.

And why so late in the day, on a weekend ? How long does it take them to cut and paste?

Don't forget this is not their weekend, but ours, This is their Monday.

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This is a great article, it tells us exactly what they plan to do. My thought here...Is this the last step? We were told this is a three step process and first step has already been completed. What is the second step? Never heard this before, I don't see this as a cut and paste. This is new news. Several of us here on DV have had discussions regarding these revealed details ~ This article basically answers our questions.

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