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Delete the zeros of the local currency enhances the value of Iraqi dinar in the International Monetary Fund


JustNTime
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Finance: Delete the zeros of the local currency enhances the value of Iraqi dinar in the International Monetary Fund

Palm - The Ministry of Finance that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of Iraqi dinar in the International Monetary Fund.

The chancellor said the Ministry of Finance Zia Alckheon that the survival of the existing currency to its current state would not address the question of the economic gap experienced by the Iraqi dinar as it will increase the burden on the local economy.

The International Monetary Fund expressed support for the Iraqi economy in the event of his a number of economic measures, including the privatization of banks and lifting the three zeroes from the currency and honoring debts.

http://www.nakhelnew...ws.php?nid=3660

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Obviously the IMF feels the existing currency would not fill the economic gap and we know it has increased a burden on the local economy. I would assume they want the rate exchange raised.

I am concerned the IMF supports the lifting of the three zero's, but here again we see the word "lifting". Usually when the articles refer to lifting it means to move.

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Finance: Delete the zeros of the local currency enhances the value of Iraqi dinar in the International Monetary Fund

Palm - The Ministry of Finance that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of Iraqi dinar in the International Monetary Fund.

The chancellor said the Ministry of Finance Zia Alckheon that the survival of the existing currency to its current state would not address the question of the economic gap experienced by the Iraqi dinar as it will increase the burden on the local economy.

The International Monetary Fund expressed support for the Iraqi economy in the event of his a number of economic measures, including the privatization of banks and lifting the three zeroes from the currency and honoring debts.

http://www.nakhelnew...ws.php?nid=3660

Someone asked in a post a couple days ago if the IMF supported this plan to delete the zeros. Unfortunately, it would seem that is the case. The good news is that I am not sure I have seen where the govt has agreed to their cooperation on this plan yet, so that is still a positive thing to hope that the govt does not support this... GO GOV'T! Finally, something we actually want the gov't to never be able to come to agreement with, and that is one thing we can usually count on them for! :lol:

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Many naysayers are mistakenly convinced that Iraq will LOP 3 zeros off the face value of their currency, in essence causing a 25,000-dinar note to take on the value of a 25-dinar note. this will not be the case. The 25,000-dinar notes and the 25-dinar notes will co-exist. Hence, the 25,000-dinar note will be worth 1000 25-dinar notes. In like manner, the 10,000s & 10s will co-exist as will the 5,000s & the 5s along with the 1,000s and the 1s ... as they all should, simply put, straight-forward to our normal way of thinking. 4-5s = a 20, 5-20s = 100, etc

:rolleyes: :rolleyes:

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Someone asked in a post a couple days ago if the IMF supported this plan to delete the zeros. Unfortunately, it would seem that is the case. The good news is that I am not sure I have seen where the govt has agreed to their cooperation on this plan yet, so that is still a positive thing to hope that the govt does not support this... GO GOV'T! Finally, something we actually want the gov't to never be able to come to agreement with, and that is one thing we can usually count on them for! :lol:

Well we are definitely happy you see some good news.....however we would all have to be in agreeance that "lifting" of the 3zeros means the same to me as it does you....you state it as fact.....I think the fact is "lifting" of the 3zeros means removing them from circulation

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Many naysayers are mistakenly convinced that Iraq will LOP 3 zeros off the face value of their currency, in essence causing a 25,000-dinar note to take on the value of a 25-dinar note. this will not be the case. The 25,000-dinar notes and the 25-dinar notes will co-exist. Hence, the 25,000-dinar note will be worth 1000 25-dinar notes. In like manner, the 10,000s & 10s will co-exist as will the 5,000s & the 5s along with the 1,000s and the 1s ... as they all should, simply put, straight-forward to our normal way of thinking. 4-5s = a 20, 5-20s = 100, etc

:rolleyes: :rolleyes:

New Dinars for Old

Posted on 05 July 2011.

New Dinars for Old This is why people think it could happen that way

At the end of last month, a spokesman for the Central Bank of Iraq (CBI) told reporters that a plan to redenominate the Iraqi dinar will be presented to the Council of Ministers in the near future. (See here and here.) The Council is then expected to submit the relevant legislation to Parliament for a vote. If the lawmakers approve the project, all existing banknotes will be replaced with new currency at the rate of 1,000 old dinar for one new over some unspecified period of time.

Given Parliament’s current backlog, this change can hardly be imminent. Still, you might think they could get around to voting on the CBI’s proposal some time before the end of this year. In that case, the redenomination could presumably be completed by the end of 2012.

The process will necessarily involve both the exchange of new banknotes for old and the restatement of contractual obligations in terms of the new currency. Among other things, three zeros will have to be eliminated from the share capital of the ISX listed companies as well as from the number of shares each has outstanding. (This will keep the par value at one dinar.)

I’m told this should be a relatively straightforward change for the depository center to make. Trading should not have to be suspended for more than a few days and it may be possible to proceed in phases of a few names at a time so that the entire market does not have to shut down during the transition period.

Similarly, it seems reasonable to expect the CBI to exchange new dinars for US dollars at one thousandth the rate for old dinars. In other words, if the original rate were IQD 1170 = US$ 1, post-redenomination this would become IQD 1.170 = US$ 1.

All of this seems reasonably straightforward for anyone holding assets such as currency or shares inside the country. For those holding dinar cash outside Iraq, however, things may not be so simple. How and on what terms their old dinars will be convertible into the new currency remains an open question.

n the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note.

http://www.rferl.org/content/iraq_said_planning_currency_overhaul_redenomination/24245867.html?page=2

Edited by trooper
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Well we are definitely happy you see some good news.....however we would all have to be in agreeance that "lifting" of the 3zeros means the same to me as it does you....you state it as fact.....I think the fact is "lifting" of the 3zeros means removing them from circulation

Yes, I have heard that about the use of a word that is not "delete" from a few of the gurus that talk about that. (Enorrste, co-creator of the GET Team, spoke to me saying the same thing once on a call). In the spirit of trying to keep an open mind, I have been trying to see if there has ever been a time when this word was used to state they were only removing certain denominations, and then giving value to new denominations. I have yet to find that though, but have seen on many occasions where different verbiage was used to describe the process of a redenomination, such as , eliminate, lift, delete, remove, (etc) zeros from circulation. So far I do not see anything to support a distinguishable difference to make us believe there is a difference between lift and delete, but I have been looking to see if this could possibly be the case. If you find anything, let us know! Thanks...

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Many naysayers are mistakenly convinced that Iraq will LOP 3 zeros off the face value of their currency, in essence causing a 25,000-dinar note to take on the value of a 25-dinar note. this will not be the case. The 25,000-dinar notes and the 25-dinar notes will co-exist. Hence, the 25,000-dinar note will be worth 1000 25-dinar notes. In like manner, the 10,000s & 10s will co-exist as will the 5,000s & the 5s along with the 1,000s and the 1s ... as they all should, simply put, straight-forward to our normal way of thinking. 4-5s = a 20, 5-20s = 100, etc

rolleyes.gifrolleyes.gif

I wish that was the case....

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Read this part again..." and enhance the value of Iraqi dinar in the International Monetary Fund". I was told the lowers were printed along with all of the other denominations....this seems it could be alluding to the IMF having possession of the lowers. If you look back on my past post I told you how a family member of mine said this. Go RV!

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Read this part again..." and enhance the value of Iraqi dinar in the International Monetary Fund". I was told the lowers were printed along with all of the other denominations....this seems it could be alluding to the IMF having possession of the lowers. If you look back on my past post I told you how a family member of mine said this. Go RV!

They may or may not have printed the lower denominations at the same time, but if they don't have all three languages on them they are considered unconstitutional and will not be used.

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all existing banknotes will be replaced with new currency at the rate of 1,000 old dinar for one new over some unspecified period of time.

Read more: http://dinarvets.com/forums/index.php?app=forums&module=post&section=post&do=reply_post&f=5&t=105623#ixzz1mayvbkIt

Similarly, it seems reasonable to expect the CBI to exchange new dinars for US dollars at one thousandth the rate for old dinars. In other words, if the original rate were IQD 1170 = US$ 1, post-redenomination this would become IQD 1.170 = US$ 1.

Read more:

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Read this part again..." and enhance the value of Iraqi dinar in the International Monetary Fund". I was told the lowers were printed along with all of the other denominations....this seems it could be alluding to the IMF having possession of the lowers. If you look back on my past post I told you how a family member of mine said this. Go RV!

It would be great if they did so this ride can be over a bit faster, but in a recent article they stated:

"that the new currency will be a global specification and high-tech and very difficult to forge because it contains the properties of being a major security printers will print in recent international and specialized to print currency."

http://translate.google.com/translate?u=http%3A%2F%2Fwww.ikhnews.com%2Fnews.php%3Faction%3Dview%26id%3D33051&sl=ar&tl=en&hl=&ie=UTF-8

Based on this, and other articles like this when they talk about their plans, the notes will be, but not have been printed.

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Yes, I have heard that about the use of a word that is not "delete" from a few of the gurus that talk about that. (Enorrste, co-creator of the GET Team, spoke to me saying the same thing once on a call). In the spirit of trying to keep an open mind, I have been trying to see if there has ever been a time when this word was used to state they were only removing certain denominations, and then giving value to new denominations. I have yet to find that though, but have seen on many occasions where different verbiage was used to describe the process of a redenomination, such as , eliminate, lift, delete, remove, (etc) zeros from circulation. So far I do not see anything to support a distinguishable difference to make us believe there is a difference between lift and delete, but I have been looking to see if this could possibly be the case. If you find anything, let us know! Thanks...

Thank god we have you!

Ive also seen many articles that state the will raise the exchange rate....its all interpretation and all what your mind will allow you to think....to many unanswered questions....that none of us will ever have the answers to.....people just follow JayP....hes the smartest! He reads better than anyone.....you know all you lopsters always wanna push the Oakie thing.....just because you have been scarred by the big guru turds of the dinar world doesnt mean we all have......honestly Ive never read about the dinar on any other site....couldnt even tell you what his site looks like.....but what I can tell you is the solid majority of the members here believe we will see an RV of around 1to1 at some point soon...and I tend to agree with them....so not really a need to let "us" know anything.....now the need truly is for you to let me know when you show me proof that an RV cant happen like we want....and dont give me a bunch of "oh theres to much in circulation" or the "CBI" says so" thats your interpretation of what you think cause you are being told to think outside the box a little JayP....they aint gunna tell us the truth about nothin....read between lines.....look at the big picture....

Here I will give you one riddle.......the cbi claims they want to delete the zeros AND the cbi has claims they've been "sucking" in trillions of dinar.......could they have anything to do with eachother?

Little help.....the cbi and the goi and us govt and the news says a lot!!!!! Half of which changes everyother day!:) :)

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They may or may not have printed the lower denominations at the same time, but if they don't have all three languages on them they are considered unconstitutional and will not be used.

I was told the Kurdish language can be printed onto the existing currency....simple and inexpensive process.

It would be great if they did so this ride can be over a bit faster, but in a recent article they stated:

"that the new currency will be a global specification and high-tech and very difficult to forge because it contains the properties of being a major security printers will print in recent international and specialized to print currency."

http://translate.google.com/translate?u=http%3A%2F%2Fwww.ikhnews.com%2Fnews.php%3Faction%3Dview%26id%3D33051&sl=ar&tl=en&hl=&ie=UTF-8

Based on this, and other articles like this when they talk about their plans, the notes will be, but not have been printed.

This is exactly what they told us about the currency we hold when it was printed.....its recycled garbage IMO. The dinar we hold has more security features then the dollar...

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I will probably regret I even brought it up,.........but..............LOPs don't liberate.

Carrello....NNOOOOO!!! Don't go to the "Dark Side". You are right up there at the top of my Hall of Fame List!! No Lop!!! They just want to switch over to new currency over time.

Tell me you agree???? :)

Go RV!!! NO Lopppppp!!!

:P:P:P

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Yes, I have heard that about the use of a word that is not "delete" from a few of the gurus that talk about that. (Enorrste, co-creator of the GET Team, spoke to me saying the same thing once on a call). In the spirit of trying to keep an open mind, I have been trying to see if there has ever been a time when this word was used to state they were only removing certain denominations, and then giving value to new denominations. I have yet to find that though, but have seen on many occasions where different verbiage was used to describe the process of a redenomination, such as , eliminate, lift, delete, remove, (etc) zeros from circulation. So far I do not see anything to support a distinguishable difference to make us believe there is a difference between lift and delete, but I have been looking to see if this could possibly be the case. If you find anything, let us know! Thanks...

Oh and btw....im not guna find it for you but there is a post that zigmeister posted last week where the used that type of verbiage in an article and it was much clearer based on the topic.....you should check it out....didnt have much action but definitely cleared it up.

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