The possibility to delete the zeros of the Iraqi dinar end of 2013

[BBalls]

Financial representative: the possibility to delete the zeros of the Iraqi dinar end of 2013.

Baghdad - and babysit - signed by the parliamentary Finance Committee Haitham Jubouri currency to be replaced by deleting three zeros from the end of 2013.

He said in a press statement that the process of replacing the currency will be three stages of the first printing of new currency and relegated to the second and third market withdrawal of old currency, adding that he will be the completion of the purchase of equipment printing the new currency in the first half of this year. "

He Jubouri: "The Finance Committee was wary of deleting three zeros from the currency and cause an increase of the rate of inflation and exploited in the process of money laundering, but we got assurances scientific specialists in the Central Bank and Cdo that the replacement will support the Iraqi currency against other currencies so that there is a balance between the value in the hands of the citizen with the commensurate with the value of the real exchange rate markets. "

He explained: "The replacement of the existing currency will be accurate and thought no need to fear them or of the fraud, because it will print with the latest devices that can not be forged, adding that the process of replacing the currency does not need to be approved by Parliament, but was consulted committees of financial and economic developments in the House of Representatives He received the Central Bank approval.

He was adviser to the CBI the appearance of Mohammed Saleh said in a press statement prior to the completion of preparations for the implementation of the project to delete the zeros and the issuance of a new Iraqi currency, in the framework of the currency reform of management system in preparation for the next stage.

http://translate.google.com/translate?hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://alrayy.com/

[pocono]

It would appear the CBI got Parliament approval.

[SSI]

Awesome find, bballs!!!

[OregonHopeful]

It seems I read a while back that they were going to allow two years to trade in the old currency. So, maybe we're only looking at the middle of this year, after they get the machines and print the new currency, then RV, new currency and two years to exchange old for new.

I also still think they have already have the new currency printed, and are waiting on the machines to count/sort the currency

[Markinsa]

He explained: "The replacement of the existing currency will be accurate and thought no need to fear them or of the fraud, because it will print with the latest devices that can not be forged, adding that the process of replacing the currency does not need to be approved by Parliament, but was consulted committees of financial and economic developments in the House of Representatives He received the Central Bank approval.

It would appear the CBI got Parliament approval.

Read that again.

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[Elixirbaby]

the possibility to delete the zeros of the Iraqi dinar end of 2013.

the possibility to delete the zeros of the Iraqi dinar end of 2013.

IMO this telling us that all the three zero notes will have to be turned in by end of 2013.

Go RV

[ijdk]

third market withdrawal of old currency,......doesn't this go to show they are either doing or going to be pulling in all the old currency?

[hoosier1470]

It seems I read a while back that they were going to allow two years to trade in the old currency. So, maybe we're only looking at the middle of this year, after they get the machines and print the new currency, then RV, new currency and two years to exchange old for new.

I also still think they have already have the new currency printed, and are waiting on the machines to count/sort the currency

I agree! They have had more than enough time to get the new currency printed. I dont honestly believe that we will been waiting until 2013 to see a change in the exchange rate! Seems that this process is something that CBI would like to see coming to completion by the end of 2013, having the new notes out with a new exchange rate, and a high percentage of the old pulled in! But, who knows....so much conflicting articles out on a daily basis!! I personally expect to see a major event before February...JMHO. Go RV!!

[pocono]

Read that again.

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Stand corrected...should have stated.."signed by the Parliamentary finance committee" as the 1st sentance suggests...maybe Maliki can still stop it.

[Puff]

Nice, very nice:D, thanks BBalls

[SgtFuryUSCZ]

***///

Okay, so if they're going to wait until the end of 2013,

that means they're going to take care of all that other money currently out there (our denoms) before then, right?

Should I be looking at Vegas hotel availability yet...?

[Carrello]

It seems I read a while back that they were going to allow two years to trade in the old currency. So, maybe we're only looking at the middle of this year, after they get the machines and print the new currency, then RV, new currency and two years to exchange old for new.

I also still think they have already have the new currency printed, and are waiting on the machines to count/sort the currency

I am very suspicious of the statements saying they are purchasing machines and printing their own currency. This is a very sensitive, intense process. Can you imagine having a printing facility in Iraq, one of the most corrupt countries in the world?

The 10 DeLaRue machines previously purchased were not printers, they are counters, bundlers, and counter note detectors.

DinarDana is a currency consultant and very familiar with this. Where are you Dana?

[DaveH]

the possibility to delete the zeros of the Iraqi dinar end of 2013.

IMO this telling us that all the three zero notes will have to be turned in by end of 2013.

Go RV

Agreed. i can live with that, though I think I just might beat the deadline. :lol: By a little bit.

[Elixirbaby]

Agreed. i can live with that, though I think I just might beat the deadline. :lol: By a little bit.

Right behind you.

[Carrello]

third market withdrawal of old currency,......doesn't this go to show they are either doing or going to be pulling in all the old currency?

Yes. Both. The goal is to remove the 000s, 25,000, 10,000, and 5,000 notes from circulation.

Edited January 15, 2012 by Carrello

[Wheeler]

See this thread, sanssouci? And people's responses to it?

[Carrello]

the possibility to delete the zeros of the Iraqi dinar end of 2013.

IMO this telling us that all the three zero notes will have to be turned in by end of 2013.

Go RV

PLEASE! TAKE THEM. TAKE THEM NOW!

[DinarDana]

I am very suspicious of the statements saying they are purchasing machines and printing their own currency. This is a very sensitive, intense process. Can you imagine having a printing facility in Iraq, one of the most corrupt countries in the world?

The 10 DeLaRue machines previously purchased were not printers, they are counters, bundlers, and counter note detectors.

DinarDana is a currency consultant and very familiar with this. Where are you Dana?

WORKING. ugh

I would be highly surprised if a war torn country has the "experts" to print their own currency. NO, No, no they mean something else - No they cannot afford the startup costs alone with such low purchasing power to purchase the experts, supplies., technology, nor equipment. This is a very poor translation and I believe if you replace the word equipment with supply then it may make sense.

[Alex38]

RV!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Carrello]

WORKING. ugh

I would be highly surprised if a war torn country has the "experts" to print their own currency. NO, No, no they mean something else - No they cannot afford the startup costs alone with such low purchasing power to purchase the experts, supplies., technology, nor equipment. This is a very poor translation and I believe if you replace the word equipment with supply then it may make sense.

Thank you! That was fast. Can you imagine the security involved.

[DinarDana]

Thank you! That was fast. Can you imagine the security involved.

No I can't imagine and can you imagine if they blew up the facility? What insurance company is going to back that company? If this is true, this is an ubber stupid move!

I have to go back to work now - ugh Well it's big bucks to work OT, but I am not in the mood, nor do I like the project. I can tell you this much it's for a state, near the Mississippi River - and they are 15 years behind the east coast in technology, not as bad as Iraq though.

[frankc]

The way I intrepret this is, whether they print their own new money or not (which seems stupid), whenever they introduce these new bills there will have to be an RV. Then they can start recalling our 000's.

Also, the technology used to print our 000's bills was the latest and greatest. Not supposed to be able to be counterfeited. Why not just use De La Rue again to print their lower denoms instead of spending/wasting huge amounts of money to print their own? Is this why they are planning on 2013? Because they need time to be able to print their own new currency?

I just hate to see this pushed out to 2013.

[OregonHopeful]

Wow, a ton of financial and currency articles all of a sudden. I'm hoping it's a good sign.

I personally don't think they are going to print their own currency. Talk abour possible corruption... It would be Saddam all over again.

hmm let's see... our own printing press... just like Saddam did - won't get much confidence from the international community that way.

I think some of this is smoke and mirrors.... I think they are talking about the De Larue machines to count and sort and they are either already there or on their way.

I also think they will RV this soon and give two years to cash in/exchange to new currency.

Shababi hasn't been sitting on his hands all this time.. he has stated he is ready. It has been stated that Phase 1 is done.

We are now going into phase 2 (whatever that is) but I don't think sit and wait is phase 2. I think we will see something soon. What we will see is anybody's guess.

[Carrello]

No I can't imagine and can you imagine if they blew up the facility? What insurance company is going to back that company? If this is true, this is an ubber stupid move!

I have to go back to work now - ugh Well it's big bucks to work OT, but I am not in the mood, nor do I like the project. I can tell you this much it's for a state, near the Mississippi River - and they are 15 years behind the east coast in technology, not as bad as Iraq though.

Funny. I am working today too, but I having a hard time getting into it too. My client is like being a vendor for Walmart, want it now and pay you one dollar above your costs. Once we RV, they are the first client to go.

We will be shopping soon!

The way I intrepret this is, whether they print their own new money or not (which seems stupid), whenever they introduce these new bills there will have to be an RV. Then they can start recalling our 000's.

Also, the technology used to print our 000's bills was the latest and greatest. Not supposed to be able to be counterfeited. Why not just use De La Rue again to print their lower denoms instead of spending/wasting huge amounts of money to print their own? Is this why they are planning on 2013? Because they need time to be able to print their own new currency?

I just hate to see this pushed out to 2013.

Make sure you read DinarDana's first post on this.

Edited January 15, 2012 by Carrello

[socaljeepnut]

IMO it just does not make any economic sense any way you slice it to pull the three ooo then bring in lower denom. It does absolutely nothing for their purchasing power in world trade. Now to RV then recall big notes makes all the sense. But we are talking about the those boneheads in Iraq.