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Looks like Monday they vote on the budget

TonyDownTheShore

By TonyDownTheShore,
in Iraq & Dinar Related News

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TonyDownTheShore
TonyDownTheShore

Parliament Speaker Najafi asserts a vote on the budget will take place next Monday Posted: February 16, 2012 in Iraqi Dinar/Politics Tags: Baghdad, Budget, Council of Representatives of

Stryker365
Stryker365

Tony and yota, I was not able to sleep the other night so I was watching BBC and the journalist was in the Parliament of Burma I believe reporting on them going over their budget for the first time on

yota691
yota691

Najafi asserts that it will vote on the current year budget next Monday Editor: SS | BR Thursday 16 شباط 2012 12:00 GMT Iraqi Parliament Speaker Osama Najafi Sumerian News / Baghdad The head of t

TonyDownTheShore Newbie

TonyDownTheShore

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and then there is this...

Hopes that European leaders may agree to a Greek bailout as soon as Monday and strong U.S. economic data launched stocks sharply higher.

http://www.foxbusine...rong-jobs-data/

Things may be lining up behind the scenes.

There is definitely more to this than we dont know.

There's definitely something cooking in the oven, what it is we don't know it yet, thanks for bringing this over.

was there a rate included in that budget???

they've got to have a rate, but Adam has said they may have two budgets drawn up, one with old rate and one with future rate.

Ditto.

We have a great group of people bringing the news I'll only bring something that I don't see posted.

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Carrello Rising Star

Carrello

Posted
Posted

and then there is this...

Hopes that European leaders may agree to a Greek bailout as soon as Monday and strong U.S. economic data launched stocks sharply higher.

http://www.foxbusiness.com/markets/2012/02/16/dow-edges-higher-on-strong-jobs-data/

Things may be lining up behind the scenes.

There is definitely more to this than we dont know.

Dr. J has a post in Rumors, and has stated many times, along with Bravo11, that the Chinese has a big hand in this due to the amount of dinar owned by the government, along with euros. Dr. J just stated the Chinese have been pushing to get this RV implemented, but have run into snags

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JustNTime Newbie

JustNTime

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Dr. J has a post in Rumors, and has stated many times, along with Bravo11, that the Chinese has a big hand in this due to the amount of dinar owned by the government, along with euros. Dr. J just stated the Chinese have been pushing to get this RV implemented, but have run into snags

I too have heard and wondered about the chinese influence and how much weight they carry.

I wonder if the recent visit from their new leader was to help smoothe things out? unsure.gif

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Europian Newbie

Europian

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Hello again everybody, can somebody explain to me little bit more about all this deleting zeros...please, I'm new over here, and I'm trying to inform myself as much as I can, so with deleting the 3 zeros how much will our Dinar be worth......and is the RV will be after that...?

Thanks to everybody, this site is best place to get TRUE info about our Investment :)

ASAP RV!!!!!!!!!!!!

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TonyDownTheShore Newbie

TonyDownTheShore

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Hello again everybody, can somebody explain to me little bit more about all this deleting zeros...please, I'm new over here, and I'm trying to inform myself as much as I can, so with deleting the 3 zeros how much will our Dinar be worth......and is the RV will be after that...?

Thanks to everybody, this site is best place to get TRUE info about our Investment :)

ASAP RV!!!!!!!!!!!!

when they say deleting the zeros they mean that all the large notes will be taken out of ciculation, like 1000, 5000, 10.000 and 25.000, and they'll be replaced by new currency.

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Carrello Rising Star

Carrello

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With other words "we will hold worthless Dinar notes" right?

That is not what Tony said whatsoever. Tony said "when they say deleting the zeros they mean that all the large notes will be taken out of ciculation, like 1000, 5000, 10.000 and 25.000, and they'll be replaced by new currency."

How do you get worthless out of that?

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JayLee202 Newbie

JayLee202

Posted
Posted

There's always a chance that it can lop, but that wouldn't help their economy, so they say that when they revalue their currency the money we hold now will not lose value and would increase according to the rv.

Absolutely, If we want to trade them in for the lower denoms, then that is up to us. Deleting the zeros doesn't mean deleting the zeros from the currency that WE hold. They would then want to get the larger denoms off the street. This would cause a world wide of chaos if the world get screwed like that. Trust me, we will be fine smoking Cubans and I don't even smoke.

With other words "we will hold worthless Dinar notes" right?

No we do not! We may just have a window to turn in our dinars once it RVs. They will want to get the larger denoms off the street

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dvforumuser Newbie

dvforumuser

Posted
Posted (edited)

when they say deleting the zeros they mean that all the large notes will be taken out of ciculation, like 1000, 5000, 10.000 and 25.000, and they'll be replaced by new currency.

If they only take the 000 note bills out of circulation, then they would not issue a new currency but just new lower denomination bills in the current currency. That is what we HOPE will happen and is the dreamed of giant RV, we're all rich. These new bills and the current ones we hold would all still be IQD, and all use the same exchange rate, whatever that is (currently 1166 IQD/dollar).

Another explanation of course for the "delete the zeros" is that they will re-denominate (an RD), issuing a new currency. The slang "LOP" is used for this, but the proper term is a re-denomination or RD. The new currency has a value 1000x greater then the current IQD and hence is printed in denominations 1000 times less (e.g. 25 instead of 25,000). The design of the new currency (if they RD) will be such that the two currencies will not be confused (different look, different colors, etc). Both currencies would exist side by side for a couple of years. After a year or so merchants no longer have to accept IQD and only will take the new dinars (NID maybe), but the central bank will accept them for another 8 years. No one makes money from this event and the IQD we hold, whose value does not change, will eventually have to be exchanged (likely via the dealers again) for some other currency, USD, or the new dinar, or whatever.

There are some 70 cases of countries executing an RD Europian, just google for it. There are no cases of a 1000x RV ever happening (or a 100x or a 10x).

Edited by dvforumuser
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nawty1 Newbie

nawty1

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lets hope they do vote on monday, i do not feel that the budget passing will be followed immediately with the revalue, but the budget does pertain to all things financial

i do feel that the budget will spark the hcl, if you think about it, the numbers of the budget are from all oil money, and the hcl is about oil money.

if the kurds agree to the budget, then in retrospect they agree to the hcl, the % allocated to them through the budget will be the same allocated to them through the hcl, so i feel the budget is huge for that reason.

i am sure it is posted on here somewhere, but a few months back the imf had disapproved of the budget, and iraq had to make corrections, it is good to know that iraq and the imf are on the same page.

the imf will have a greater impact on the revalue than some may think, the imf and world bank sent agricultural teams over to iraq in 2009 to survey the land so to speak, they assessed ground totals (oil-natural gas-minerals-gold). i am sure that iraq's new exchange will come from these studies.

i was reading on here that iraq was-is going to follow turkey, well i can assure you from an economic stand point that will not happen, the two situations are night and day, turkey was set back 3-4 years economically, and in the economic world it is known as a disaster.

iraq is doing a great job of reducing street dinar, if they were going to r/d this step would not be needed, what they are currently doing now is "lifting the zero's" off of the street, it in iraqs situation is the smartest thing they could do.

we are alot further along than what the iraqi news is letting on, the "lifting the zero's" step started 8-10 months ago, and in my belief there is only 4-6 or 7 trillion in dinar in circulation, well over 100 billion in foreign reserves, and roughly 35-40 trillion in dinar in cbi's vault.

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Stryker365 Newbie

Stryker365

Posted
Posted (edited)

lets hope they do vote on monday, i do not feel that the budget passing will be followed immediately with the revalue, but the budget does pertain to all things financial

i do feel that the budget will spark the hcl, if you think about it, the numbers of the budget are from all oil money, and the hcl is about oil money.

if the kurds agree to the budget, then in retrospect they agree to the hcl, the % allocated to them through the budget will be the same allocated to them through the hcl, so i feel the budget is huge for that reason.

i am sure it is posted on here somewhere, but a few months back the imf had disapproved of the budget, and iraq had to make corrections, it is good to know that iraq and the imf are on the same page.

the imf will have a greater impact on the revalue than some may think, the imf and world bank sent agricultural teams over to iraq in 2009 to survey the land so to speak, they assessed ground totals (oil-natural gas-minerals-gold). i am sure that iraq's new exchange will come from these studies.

i was reading on here that iraq was-is going to follow turkey, well i can assure you from an economic stand point that will not happen, the two situations are night and day, turkey was set back 3-4 years economically, and in the economic world it is known as a disaster.

iraq is doing a great job of reducing street dinar, if they were going to r/d this step would not be needed, what they are currently doing now is "lifting the zero's" off of the street, it in iraqs situation is the smartest thing they could do.

we are alot further along than what the iraqi news is letting on, the "lifting the zero's" step started 8-10 months ago, and in my belief there is only 4-6 or 7 trillion in dinar in circulation, well over 100 billion in foreign reserves, and roughly 35-40 trillion in dinar in cbi's vault.

Welcome back nawty1, hey have you seen the articles on the Gold discovery in Iraq, could be the largest in the world and one says it is for sure.

Here's one of them;

This one has an agenda attached to it but the point is being made is the reason I'm on it now.

http://dinarvets.com...g-of-war-lifts/

You're right it started the lifting or as Shabibi says removing ...

Shabibi said they were ready June 22, 2011 and that is when it begain...

Edited by Stryker365
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dvforumuser Newbie

dvforumuser

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iraq is doing a great job of reducing street dinar, if they were going to r/d this step would not be needed, what they are currently doing now is "lifting the zero's" off of the street,

What is your evidence that this is happening?

we are alot further along than what the iraqi news is letting on, the "lifting the zero's" step started 8-10 months ago, and in my belief there is only 4-6 or 7 trillion in dinar in circulation, well over 100 billion in foreign reserves, and roughly 35-40 trillion in dinar in cbi's vault.

M0, the money actually circulating has always been claimed to be around 4 trillion (with M1 ~25T and M2 ~52T). Dinars "owned" as opposed to being on deposit, at the CBI is irrelevant as they can always print however much they want. Now the CBI claims more than 100% backing with their dollar reserves of 60B or so, thus something around 50 trillion dinars is being backed. So how can they raise the value of the IQD by even 10x, which would need 600B USD to back it if 60B USD is doing the job today?
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