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Committee Formed / September Implementation?


PUNT18
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this article is from 2010

Iraqi Stock Exchange does not fear the plan to abolish the three zeros from the dinar

Assured the chairman of the Securities Abdul Razzaq al-Saadi holders of shares in companies traded on the Iraqi Stock Exchange on the future of their investments in the event of a government decision to cancel the implementation of three zeros from the Iraqi dinar.

Saadi added that the write-off zeros from the Iraqi currency will not affect the stock market and trading in its shares, adding that this issue is «do not worry us in stock, they are only regulatory issue». Coincided assurances Saadi, with explanations provided by Consultant of the Central Bank of Iraq the appearance of Mohammed Saleh on the subject, as it stressed that the cancellation of zeros from the currency is a national project strategically to reform the currency of Iraq and needs to be discussion between the bank and the government to come, stressing that the move would not adversely affect the citizens, but will facilitate the exchange system and currency bank deposit and withdrawal, and «We are a country that does not deal cards draw but Cash», adding that «the money supply current is a« product of the stage of inflation experienced by Iraq 20 years ago, which is not the product of economic development are real, but the result of loans and financing and inflation in the the general budget ».

The Chief Executive of the Association of Iraqi private banks Abdulaziz, Hassoun's «life», that the intention of the Central Bank of deleting three zeros from the national currency requires careful consideration, in order to avoid chaos and confusion in the commercial market, in the absence of capabilities required to implement the resolution, which aims to get rid of the money supply large that are being handled now, and that increased to 27 trillion dinars, and led to problems for many commercial transactions and the banks, pointing out that the implementation of the resolution needs to be a sufficient number of banks and their branches to undertake to facilitate the implementation process, while considered among the Academy delete zeros step towards an increase in the national currency, instead of dealing in foreign currencies, especially the dollar, stressing that such a decision «means added strength of the Iraqi dinar».

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D14288&rurl=translate.google.com&twu=1

Interesting. This is in 2010 so why the articles of recent there is concern? Has something changed? Or are we being bombarded with propaganda from recycled articles? Has something changed in the plan that brings concern?

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And this one from 2006.

Iraq plans to revalue currency Gulf Daily News - [7/7/2006]

Iraq is considering redenominating the dinar, printing new banknotes to remove inflation-generated zeros from its currency, the finance minister said yesterday.

Senior government and central bank officials have said the proposal has been under consideration for some time to make one new dinar equal to 1,000 current dinars, a move that would bring the currency closer to parity with the US dollar.

Asked about such a suggestion in an interview on Arabiya television, Finance Minister Bayan Jabor said: "This is the ministry's suggestion to the central bank. We think in the long term it will be for the benefit of Iraq."

Jabor said surveys indicated popular support for the move.

The oil-rich nation's currency was once worth more than $3, he recalled, before the ruinous wars and international sanctions during the rule of Saddam Hussein.

There are currently about 1,450 dinars to the dollar, a rate that has been relatively stable since shortly after the US invasion in 2003. At that time new banknotes were issued by the US occupiers to remove Saddam's image.

Other nations that have been through rampant inflation have followed a similar course, notably Russia in the 1990s.

Until the 1980s, many prices in Iraq commonly also used the fils. One dinar equals 1,000 fils. The smallest denomination note today is 250 dinars.

http://www.iraqdirectory.com/DisplayNews.aspx?id=1636

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I would agree this article leans to an RD. But I think it also visits the debate between CBI and the government as well as the Securities Commission. For me I find it confusing, on one hand you have the CBI who seems to be preparing for the deletion of zero's and new currency. On the other you have the government who is concerned about the money changers and counterfeiters, which they are now experiencing. Now for me I find it puzzling, in an RD which a neutral event, I do not see how money changers and or counterfeiters could be a big problem for Iraq. However an RV would be a grave concern I would think.

Then we have the Securities Commission concerned it would effect the stock market. We know in an RD situation it would not have an effect on investments. So why the concern from Securities? I just feel we have a missing link or piece to the process.

Zig, I think there are obvious answers in your questions.............

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Zig, I think there are obvious answers in your questions.............

Wait, I need to clarify my statement: Zig, what I meant is that you bring up very valid questions and there are obvious answers that I think many of us would agree would be the same. Is that clear as much? I wasn't slamming you, but you knew that.

To Camel Power! B)

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I can't help but wonder if this isn't the smoke and mirrors we hear about. There is no way they will tell us ahead of time that they are going to RV. Could you imagine the rush on dinars if this was the case. No way. I still say we won't have any idea until the moment it happens. Guess I may have gotten a little gun shy over the last 5 years ( invested in 2007).

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Wait, I need to clarify my statement: Zig, what I meant is that you bring up very valid questions and there are obvious answers that I think many of us would agree would be the same. Is that clear as much? I wasn't slamming you, but you knew that.

To Camel Power! B)

To Camel Power!! Here, Here!

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these articles show iraqs transparency ..only if they fit our agenda ..otherwise its smoke and mirrors ..........if the article sounds good ...its a thumbs up ..its the truth article ...if it slants against a large rv ..then its just smoke and mirrors

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???? Would they really be telling us it's going to rv in September ? You would think they wouldn't lay all there cards on the table. Video from last April wih shabibi speaking. Reporter ask about a revaluation. Shabibis response was if there was going to one could not tell you. This article makes me go hmmmmmm.

my thoughts exactly! how many timesin the past have they told us they were going to do something by or on a specific datec just to turn around and fail that deadline drastically.

Remember this close to the final hour the more smoke mirrors and miss dirrection we are going to see. they wouldnt tell us exactly when or whats going to happen because they would loose there shirts from big wiggs comming in and buying up huge! amounts of dinar. they have to throw us off as much as they possibly can if they want to do this and have it work.

dont over or under think anything, because in the end, this is going to happen when it happens and not a second sooner or later.

I do feel like we are closer now then we have ever been n the past 7 or so years that ive been in this investmnet.

GO RV =)

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