Iraqi Central intensify its efforts to delete the zeros of the Iraqi currency

[NB2D]

BAGHDAD – ASHA: continue the Iraqi Central Bank to work on the project to delete the zeros of the Iraqi currency. bank adviser said the appearance of Mohammed Saleh – in a statement to Radio Sawa on Tuesday – “The committee in charge of the development blocks of the project to delete the zeros of the Iraqi currency in the process of completing work “, adding that the project will be launched early next year. He noted the benefit that the new currency contained categories of paper and metal, stressing the importance of the project to delete zeros in facilitating financial transactions, and pointed out that government banks are the only outlet for the process of replacing the currency that will continue over two years .

It is noteworthy that Article 36 of the Law on Central Bank of Iraq gives him the right to replace the currency and adjusted according to the list of control governing the work of the new currency.

http://www.moheet.com/2012/03/13/

[Elixirbaby]

Progress. But hate seeing the whole next year thing.

[jasondb17]

they cant wait to allow any currency change to last that long, they NEED to do it now..not for us, but for their people.

[Abarvets]

My favorite line

It is noteworthy that Article 36 of the Law on Central Bank of Iraq gives him the right to replace the currency and adjusted according to the list of control governing the work of the new currency.

Love that line. I wonder if anyone at the CBI is listening??? Today, tomorrow, even Thursday works for me. We could have a very nice holy day this Friday!

[jas428]

they cant wait to allow any currency change to last that long, they NEED to do it now..not for us, but for their people.

Unfortunately, they don't "need" to do anything. They pay their bills and are working to improve their economy. People get so caught up in the things Iraq needs to do, but we truly don't have a clue what it takes to run a developing country. We know what we want, but please don't think for a second that Iraq needs to do anything...they can keep their currency the way it is for awhile if they want to. Inflation may be increasing, but its a much lower rate than it was 8-10 years ago and they're very proud of that. Their monetary policy is managed by some of the most intelligent people on the planet...we don't have the slightest idea what they need, aside from putting our own desire first.

[LR Bobert]

Recycled article, from last year. 2011

[truthful1]

First its upon parliament approval, then its september, then may, then its back to september , and now.its next year. i follow all the cbis articles and im confused. id hate to see how confused these iraqis are?? They cant even keep their story straight.....is this another recycled article??

Edited March 13, 2012 by truthful1

[keepmwlknfny]

"and pointed out that government banks are the only outlet for the process of replacing the currency that will continue over two years ."

If thats the case, and only Iraqi govt banks are being talked about, then we might be in trouble......unless these dealers have someway to get dinar back into Iraq to be exchanged.....but it would appear that they would do exactly what they did last time and close the borders....

I dont like this as much as seeing deleting the zeros being talked about....

[DinarDana]

"and pointed out that government banks are the only outlet for the process of replacing the currency that will continue over two years ."

If thats the case, and only Iraqi govt banks are being talked about, then we might be in trouble......unless these dealers have someway to get dinar back into Iraq to be exchanged.....but it would appear that they would do exactly what they did last time and close the borders....

I dont like this as much as seeing deleting the zeros being talked about....

Good catch, we'll see what comes of this. Hmm I had thought something like this would show it's ugly face.

[gregp]

Progress. But hate seeing the whole next year thing.

"Next week" means "this week", so "next year" means "this year" in my book.

[NB2D]

Not sure if this is a recycle or not. Here is the direct link http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.moheet.com%2F2012%2F03%2F13%2F

[only 1-25k dinar]

Recycled article, from last year. 2011

Thanks and we are now in Next Year! Sure hope it works out for us all!!! Have a great day!

[NB2D]

Sorry, its not letting me get a direct link. Click on Economy at top, then the article is on page 3. Cheers

[happygilmore]

Unfortunately, they don't "need" to do anything. They pay their bills and are working to improve their economy. People get so caught up in the things Iraq needs to do, but we truly don't have a clue what it takes to run a developing country. We know what we want, but please don't think for a second that Iraq needs to do anything...they can keep their currency the way it is for awhile if they want to. Inflation may be increasing, but its a much lower rate than it was 8-10 years ago and they're very proud of that. Their monetary policy is managed by some of the most intelligent people on the planet...we don't have the slightest idea what they need, aside from putting our own desire first.

That is a fact!!

[zigmeister]

Good catch, we'll see what comes of this. Hmm I had thought something like this would show it's ugly face.

I would not focus too much on this one. For one the only banks that will be doing the cash ins in Iraq will be government owned. The banking system in Iraq has many issues. Some are under the rules of Islamic banking, some are privately owned and are really just holding places for those with money. And we know one bank sold cars. And there may not be cashing in stations. So I think this is what they are referring to imo.

The other thing to keep in mind, this article is in reference to the Iraqi people, they need to know where to go. This article does not pertain to "foreigners".

[keepmwlknfny]

I would not focus too much on this one. For one the only banks that will be doing the cash ins in Iraq will be government owned. The banking system in Iraq has many issues. Some are under the rules of Islamic banking, some are privately owned and are really just holding places for those with money. And we know one bank sold cars. And there may not be cashing in stations. So I think this is what they are referring to imo.

The other thing to keep in mind, this article is in reference to the Iraqi people, they need to know where to go. This article does not pertain to "foreigners".

If they are only allowing the new currency to be exchanged through the banks in Iraq then it does pertain to us....

We all so quickly forget that most of the time when a country changes its currency, its closes its borders and you cannot get currency in or out until the exchange process is over.....Its what Iraq did in 2003 and they did it also back when they removed the 25 dinar from circulation when Saddam was in power.....

If Iraq will not accept any outside currency then it fully pertains to foreigners cause they will have no way of exchanging....

[zigmeister]

If they are only allowing the new currency to be exchanged through the banks in Iraq then it does pertain to us....

We all so quickly forget that most of the time when a country changes its currency, its closes its borders and you cannot get currency in or out until the exchange process is over.....Its what Iraq did in 2003 and they did it also back when they removed the 25 dinar from circulation when Saddam was in power.....

If Iraq will not accept any outside currency then it fully pertains to foreigners cause they will have no way of exchanging....

So they are going to close their borders for 2 years?

[jasondb17]

Is this article relevant to replacing the denoms or exchanging currency? Replacing and exchanging are two different things, but will coexist. Yes, CBI will be in control when the denoms are implemented and exchange rates. That is nothing new.

Besides, this is a old article. We definitely have heard different news since.

Edited March 13, 2012 by jasondb17

[Carrello]

I would not focus too much on this one. For one the only banks that will be doing the cash ins in Iraq will be government owned. The banking system in Iraq has many issues. Some are under the rules of Islamic banking, some are privately owned and are really just holding places for those with money. And we know one bank sold cars. And there may not be cashing in stations. So I think this is what they are referring to imo.

The other thing to keep in mind, this article is in reference to the Iraqi people, they need to know where to go. This article does not pertain to "foreigners".

Considering Mr. Saleh is stating this on a radio program, wouldn't you think this is part of an educational program for the public? When was the last time we heard a second in command at the US Treasury on a radio program?

Edited March 13, 2012 by Carrello

[zigmeister]

Considering Mr. Saleh stating this on a radio program, wouldn't you think this is part of an educational program for the public?

Yes I would. Very good point. And I think his focus was only educating the Iraqi people, not foreigners.

[Blu Collar Guru]

Just Do It ~

[Stryker365]

First its upon parliament approval, then its september, then may, then its back to september , and now.its next year. i follow all the cbis articles and im confused. id hate to see how confused these iraqis are?? They cant even keep their story straight.....is this another recycled article??

Ditto.....

[fnbplanet]

No one finds it suspicious that they talk about May, September, January THIS MUCH, every day, in March? Why put out articles three times a day, right now?

cough, cough.

(that's code for: smoke!)

woo hoo! 2000 posts!

Edited March 13, 2012 by fnbplanet

[sourpuss]

No one finds it suspicious that they talk about May, September, January THIS MUCH, every day, in March? Why put out articles three times a day, right now?

cough, cough.

(that's code for: smoke!)

woo hoo! 2000 posts!

congrats on your 2000 post:)

[Carrello]

No one finds it suspicious that they talk about May, September, January THIS MUCH, every day, in March? Why put out articles three times a day, right now?

cough, cough.

(that's code for: smoke!)

woo hoo! 2000 posts!

Wow. Just think all that we have learned from you in 2,000 posts. You have touched on so much: dinar to silver cords, remote viewing, Beach Boys and Beach Blanket Bingo, and back again. I am glad I have had the opportunity to read most of your posts, and I thank you very much.

Edited March 13, 2012 by Carrello