Delete the zeros....Centre for Regional Studies

[jupitergirl]

Project to delete the zeros of the Iraqi currency at a seminar of the Centre for Regional Studies

Follow-up: Seminar Committee

As he used Center of Regional Studies at the University of Mosul, to witness every Wednesday seminar new shed light on the developments, with regard to economic, historical, legal, saw Hall Library Center for Regional Studies Day seminar new came to dealing with the subject economically entitled: "The project to delete the zeros of the Iraqi currency - the vision of reality", The researcher, Dr. Hashim Mohammed Abdullah Aercop professor of public finances Mosul University - Faculty of Management and Economics / Department of Economics, workshop, which was attended by Professor Dr. Ibrahim Khalil Allaf director of the center as well as the teaching staff of the Centre and the guests of Altdresen full-time and graduate students and Diploma In the College of Business and Economics, highlighted the annotated deletion of zeros from the Iraqi currency through economic study.

Raise zeros from the currency .. Benefits and costs

In the beginning of the workshop noted researcher Dr. Hashem Aercop to talk about the money and changes receives attention in the past, present and future Because there is no currency exchange, but in everyday life was synonymous with money and that money has been described as a social invention because it is linked to human needs and developments.

In Iraq, noted Article 31 of the Law on the Central Bank of Iraq No. 56 of 2004 in Section VII with respect to the national currency (the dinar is a unit of the national currency of Iraq), which means that the standard unit of currency is the Iraqi dinar, but notes that the absence of such a monetary union in trading as well as lack of parts or components which makes the adoption of the deletion of three zeros from the national currency is an urgent need and necessary.

The concept of lifting of the zeroes

Raise zeros or lifiting of the zeros Rename or delete the zeros or removing for delete zeros Are terms that refer to actions that would improve the situation of the national currency, by removing or deleting zeros or numbers of the old national currency, for various reasons are different countries.

The expected benefits to raise zeros

Noted researcher Dr. Aercop in talking about the expected benefits to raise zeros by saying:

1 - It is one justification for the monetary authority (central bank) in the control of the trends display the progress of their performance during a career in the liquidity management

2 - They achieve the goal of financial stability is the value of the currency and the absorption of the surplus

3 - They are necessary to keep pace with economic changes and economic reform policies.

Requirements for success to raise the zeros

Researcher pointed out that the economy of any country, including Iraq requires a set of conditions and the factors to be the lifting of the zeroes of a positive impact and contribute to promoting and sustaining economic stability, these factors are b

1 - The existence of economic policy are clear and specific objectives and tasks

2 - Optimum use of economic resources (human and material) available scientific and take steps to diversify the economy through the regular update of the agricultural sector

3 - Provide adequate cash reserves of foreign currency convertible

4 - External debt to be at acceptable levels and does not constitute a burden on the economy

5 - Completion of legal and administrative regulations that are related to the process.

Second, the project cost and the lifting of the zeroes of cash transactions

Dr. Aercop indicates that under the economic circumstances and the pressures of inflation that has befallen our country and led to negative effects on the regularity of the commercial market, labor markets and production and living standards have generated distortions in the structures and economic relations among them was the presence of mass Many zeros little cash value, which requires a solution to these conditions

With price stability and optimism for the future development of Iraq, it became necessary to drastically reform the system of currency management in order to re-structure commensurate with the new pricing structure and different levels of wages and salaries, which differed significantly from the last thirty years.

On this basis, has become a need to reform the system of cash payments through the following advantages

At the horizontal level: Delete the three zeroes Leads to convert 30 trillion dinars to 30 billion dinars by deleting three zeros from the currency and replace the current in order to facilitate the process of dealing arithmetic

Either on the vertical plane, the deletion of zeros will lead to re-structure and currency composition.

Third, the project raise zeros and its impacts

Researcher pointed out that the process of changing the currency to achieve the following benefits

1 - Strengthen the confidence of the code symbols of national sovereignty of the country

2 - Enhancing confidence in national currency, the citizen

3 - Facilitate trade within the country

4 - Re-use coins

Either on the justification for the deletion of zeros saw that the researcher Most prominent of these justifications are

1 - Exchange rate stability

2 - High value of Iraqi dinar 25% during 2008-2011

3 - The stability of the internal value of the currency and integrity of

4 - Building strong reserves of more than $ 6 billion.

The expected positive effects of the process of changing the currency

Researcher believes that the process of changing the currency is positive and achieve the objectives highlighted

It is an important step to reform the monetary and currency management system reform, as well as enhance the confidence of the citizen and investor in the national economy, especially with the continued effectiveness of monetary policy, as well as from the positive effects of the process of changing the currency is to end the phenomenon of the state in daily transactions, and the introduction of modern techniques in daily dealings

However, research finds that the negative effects that might be achieved in this process he has not achieved the desired results from the change of control of inflation, as inflation could rise at rates greater than the normal rates Especially with the increasing government spending by big budgets.

This seminar comes within a series of seminars taking place in the center of distinctive regional studies by introducing new developments and developments to put them in a panel discussion and these seminars are the direct support by Prof. Dr. Ibrahim Al-Allaf director of the center and guidance ..

http://translate.google.com/translat...php%3Fid%3D309

[Alex38]

We're going to be rich.

[win1mich]

Thanks for the post, Jupitergirl!

This article seems to support my understanding of the definition of deleting or lifting or raise the three zeros. It means drawing in and removing from circulation the notes with 3 zeros on them. Reducing the number of large notes and transferring the value of them to lower notes. This would be "Enhancing confidence in national currency" . Although you are left to draw your own conclusions, since they do not exactly tell you right out in plain english

From what I understand, Iraq is not concerned about the dinar held in other countries, only what's in-country.(I think that means the 30 billion money supply would be the amount in Iraq only) Shabs knows what is out-of-country, and Iraq won't have to "pay" for it. It will stay as a foreign reserve currency in those other countries, after people cash it in. Over time, the USA will exchange some of it for oil from Iraq at a reduced rate.

So if you ask me how I came to these conclusions, I probably won't be able to tell you, other than it's a compilation in my brain of what I have remembered of all I have read, and listened to on various CC's.

I'm not someone who actually really understands money policy in general, so I'm interested in if anyone agrees at all with what I've stated.

[BigFrankD]

Thanks for the post, Jupitergirl!

This article seems to support my understanding of the definition of deleting or lifting or raise the three zeros. It means drawing in and removing from circulation the notes with 3 zeros on them. Reducing the number of large notes and transferring the value of them to lower notes. This would be "Enhancing confidence in national currency" . Although you are left to draw your own conclusions, since they do not exactly tell you right out in plain english

From what I understand, Iraq is not concerned about the dinar held in other countries, only what's in-country.(I think that means the 30 billion money supply would be the amount in Iraq only) Shabs knows what is out-of-country, and Iraq won't have to "pay" for it. It will stay as a foreign reserve currency in those other countries, after people cash it in. Over time, the USA will exchange some of it for oil from Iraq at a reduced rate.

So if you ask me how I came to these conclusions, I probably won't be able to tell you, other than it's a compilation in my brain of what I have remembered of all I have read, and listened to on various CC's.

I'm not someone who actually really understands money policy in general, so I'm interested in if anyone agrees at all with what I've stated.

Listening to gurus on CCs probably isn't the best source of accurate, unbiased information.

30 trillion -> 30 billion sure sounds like an RD to me. If what you're interpreting it as is true, it would be exactly the same as the CBI telling everyone there will be a massive RV. Do you really think they would do that?

[GMartin]

Thanks for the post, Jupitergirl!

This article seems to support my understanding of the definition of deleting or lifting or raise the three zeros. It means drawing in and removing from circulation the notes with 3 zeros on them. Reducing the number of large notes and transferring the value of them to lower notes. This would be "Enhancing confidence in national currency" . Although you are left to draw your own conclusions, since they do not exactly tell you right out in plain english

From what I understand, Iraq is not concerned about the dinar held in other countries, only what's in-country.(I think that means the 30 billion money supply would be the amount in Iraq only) Shabs knows what is out-of-country, and Iraq won't have to "pay" for it. It will stay as a foreign reserve currency in those other countries, after people cash it in. Over time, the USA will exchange some of it for oil from Iraq at a reduced rate.

So if you ask me how I came to these conclusions, I probably won't be able to tell you, other than it's a compilation in my brain of what I have remembered of all I have read, and listened to on various CC's.

I'm not someone who actually really understands money policy in general, so I'm interested in if anyone agrees at all with what I've stated.

I agree with you 100%. I've been saying this forever. OIL = Bargaining Chip = Money on both sides.

Example (these are made up figures so relax folks): USA Dinar Reserves after Cash in 7 Trillion. Iraq sells Barrel of oil for $75 in Dinar. We give them $75 in dinar and we STILL charge high prices at the pump and its an endless cycle of WIN WIN.

[Alex38]

Listening to gurus on CCs probably isn't the best source of accurate, unbiased information.

30 trillion -> 30 billion sure sounds like an RD to me. If what you're interpreting it as is true, it would be exactly the same as the CBI telling everyone there will be a massive RV. Do you really think they would do that?

Reduction of the money supply is WHAT WE WANT!!!!!!!!!! Come on. How does REDUCING from 30 trillion to 30 billion sound like an RD??????????????????????????????????? How?????????????????????????????? Jeez...

[BigFrankD]

Reduction of the money supply is WHAT WE WANT!!!!!!!!!! Come on. How does REDUCING from 30 trillion to 30 billion sound like an RD??????????????????????????????????? How?????????????????????????????? Jeez...

Because that's exactly what happens in an RD? If they RD by three zeros, their 30 trillion money supply is reduced to 30 billion.

Edited March 19, 2012 by BigFrankD

[Sector]

Because that's exactly what happens in an RD? If they RD by three zeros, their 30 trillion money supply is reduced to 30 billion.

We have a new LOP/RD guru to the DV site.

[BigFrankD]

I wasn't aware stating a simple fact made one an RD guru.

[caz1104]

I wasn't aware stating a simple fact made one an RD guru.

ok how bout RD swami.......we have enough guru's

[win1mich]

"Listening to gurus on CCs probably isn't the best source of accurate, unbiased information"

Hi BigFrank, thanks for your reply. I don't listen to everyone's CC's....mostly IQD Team, Kaperoni, the Gatekeepers, Breitling, asdf (though I don't always care for his astrology and doomsday news), and sometimes Revalue.

"30 trillion -> 30 billion sure sounds like an RD to me. If what you're interpreting it as is true, it would be exactly the same as the CBI telling everyone there will be a massive RV. Do you really think they would do that?"

Well, most people seem to take it like you do, to mean scribble to last three zeros off the note and still use it. So they are educating their people, and scaring off potential speculators at the same time. And if they did it the way you say, then it would take 5 wheelbarrows of money instead of one to buy most stuff. And that wouldn't indicate a powerful currency and/or a growing economy, would it?

But thanks again for your reply, even though we disagree, you were civil!

[caughtinthecrossfire]

I keep re-reading the opening to the article. I see nothing that reflects the author as being an official voice of Iraq. Although what he says seems to indicate some of our lobsters graduated from his teachings...I see nothing to indicate he is anything more than another speculator...albiet an "in country" one.

Folks, I too think the article suggests similarities to what has come to be known as a LOP theory. Keep in mind it is just that...a theory. I personally take this article as an economic Professor's way of debating outcomes that a reporter decided to bring to print. I would love to see the same professor change his theory topic to an RV stance or even a break down of how he expects this "lifting" to unfold in real time (in the market place at point of simple purchases) considering the newly disclosed denoms to be printed.

Folks...this is theoretical jargon from one professor who is not government related or official...it is also a print in the news that I consider smoke. No...not sticking my head in the sand. Just choosing to ignore that which does not ultimately bring more value to the dinar making it "more powerful than the dollar". The new currency denoms being printed will be exchanged for old denoms at some future point and they are visibly devoid of excessive zeros. Currently, it is impossible to convert 1 IQD (new or old) into 1 dollar. Once the the new coin fils are released, it will take a pocket FULL of change to come close to 1 dollar.

No, even common sense should tell you there ABSOLUTELY HAS TO BE A SiGNIFICANT REVAAAAAAALUUUUE before any such zero lifting is implimented(or new denoms..RD release)...if for no other reason that to make the most recent (and OFFICIAL) currency denoms viable.

Yes, my opinion. But I see nothing to support a "LOP" and feel it could have been done more than two years ago if indeed it was the solution as a stand alone measure. An RD perhaps after a revalue. Zeros can be dropped to encourage this "social exchange" the prof talks about but it will not be common sensical to reduce 30T to 30B without first revaluing the dinar itself. The very reason for this measure and it's use in the market place goes against the practical application if done before an RV.

I'm done here. GO RV(Keep...I know yer lurkin, Brother Man, he he he...what's your thoughts with the new denom info considered?)

[BigFrankD]

"Listening to gurus on CCs probably isn't the best source of accurate, unbiased information"

Hi BigFrank, thanks for your reply. I don't listen to everyone's CC's....mostly IQD Team, Kaperoni, the Gatekeepers, Breitling, asdf (though I don't always care for his astrology and doomsday news), and sometimes Revalue.

Like I said, not a good place to look for accurate, unbiased info. How many of those people make money off of what they say? Either through referrals, site advertising. Membership or text message services, etc. They stop telling people what they want to hear, they stop making money. Expecting unbiased information from them is like expecting McDonalds to air an advertisement that says "well, we think our burger is okay, but the whopper is actually quite a bit better.". Never gonna happen.

Even if there are one or two that aren't making any money off what they say (which I doubt, and it's really impossible to prove), I think we've all seen gurus that are very obviously in love with their own "voice" and get an ego boost out of their "importance" within the dinar community. Again, they tell people stuff they don't like to hear, they lose their audience, they lose their "high".

"30 trillion -> 30 billion sure sounds like an RD to me. If what you're interpreting it as is true, it would be exactly the same as the CBI telling everyone there will be a massive RV. Do you really think they would do that?"

Well, most people seem to take it like you do, to mean scribble to last three zeros off the note and still use it. So they are educating their people, and scaring off potential speculators at the same time. And if they did it the way you say, then it would take 5 wheelbarrows of money instead of one to buy most stuff. And that wouldn't indicate a powerful currency and/or a growing economy, would it?

But thanks again for your reply, even though we disagree, you were civil!

That isn't how an RD works. Even if it was just a straight RD, and their highest new denom was 25 dinar, it would be the same number of wheel barrows, not 5x more (and their 25 note would be worth more than our 20. I never really carry anything higher than a 20, and I don't push around a wheel barrow to buy "most stuff", do you?).

But they have flat out said that they plan to introduce New Dinar in 50s, 100s, and 200s. Equivalent to 42, 84, and 168 USD. This isn't speculation, that's what they've said. Surely you can't think it'll take wheel barrows of currency to make purchases when they have a bill worth 168 USD. You could easily fit enough in your pocket to buy a brand new car.

[Francie26]

We're going to be rich.

I can't believe someone neg'd you for saying this. What you said is what I would have said, and probably did say several times before. Besides, it's even truer today than it's ever been. So I took the - back. I hate to say it, but whoever gave you that - is going to be rich too. I just hope he (or she) thinks about how his/her negative attitude may have held up the RV a bit longer because that old Universe acts on what we tell it. But it's gotten the real message now.

[bamjack75]

If you look at the numbers provided by the CBI and take in consideration that the IQD with the three zeros accounts for around 99% of the currency printed; what you are left with is about 30 billion in the smaller notes, after all of the zero's have been raised (removed from circulation). How funny!!!!! I just wanted show those pro -RDers that there is another way to get to the 30,000,000,000 figure. GO RV!!!!!!!!!

[win1mich]

Like I said, not a good place to look for accurate, unbiased info. How many of those people make money off of what they say? Either through referrals, site advertising. Membership or text message services, etc. They stop telling people what they want to hear, they stop making money. Expecting unbiased information from them is like expecting McDonalds to air an advertisement that says "well, we think our burger is okay, but the whopper is actually quite a bit better.". Never gonna happen.

Even if there are one or two that aren't making any money off what they say (which I doubt, and it's really impossible to prove), I think we've all seen gurus that are very obviously in love with their own "voice" and get an ego boost out of their "importance" within the dinar community. Again, they tell people stuff they don't like to hear, they lose their audience, they lose their "high".

That isn't how an RD works. Even if it was just a straight RD, and their highest new denom was 25 dinar, it would be the same number of wheel barrows, not 5x more (and their 25 note would be worth more than our 20. I never really carry anything higher than a 20, and I don't push around a wheel barrow to buy "most stuff", do you?).

But they have flat out said that they plan to introduce New Dinar in 50s, 100s, and 200s. Equivalent to 42, 84, and 168 USD. This isn't speculation, that's what they've said. Surely you can't think it'll take wheel barrows of currency to make purchases when they have a bill worth 168 USD. You could easily fit enough in your pocket to buy a brand new car.

They are reducing the 3 zeros NOW, and continue to do so. There are not very many large denoms left on the street in Iraq because they are not being replaced as they wear out....and right now, it is still at the old rate. It's not 50dinar= 42usd at this time. Hence, wheelbarrows if you took the 3 zeros off your way.

Wait a minute....you said that "30 trillion -> 30 billion sure sounds like an RD to me. If what you're interpreting it as is true, it would be exactly the same as the CBI telling everyone there will be a massive RV. Do you really think they would do that?"

and then you also said, "they have flat out said that they plan to introduce New Dinar in 50s, 100s, and 200s. Equivalent to 42, 84, and 168 USD. This isn't speculation, that's what they've said".

So you believe they will really tell us how much it will revalue? I don't. I think these are either general examples or outright misinformation.

[easyrider]

I wasn't aware stating a simple fact made one an RD guru.

ok lopster under another name that just joined today be gone to your domain please.

[zigmeister]

ok lopster under another name that just joined today be gone to your domain please.

I don't know why but when I read BigFrankD I thought of wieners.

[BigFrankD]

They are reducing the 3 zeros NOW, and continue to do so. There are not very many large denoms left on the street in Iraq because they are not being replaced as they wear out....and right now, it is still at the old rate. It's not 50dinar= 42usd at this time. Hence, wheelbarrows if you took the 3 zeros off your way.

No, "my way" results in them having a bill worth 168 USD. That's not "wheel barrow" territory, that's better than the situation in the US.

There's no evidence that the CBI has been removing large denoms from the street. In fact according to the CBI the amount in circulation is increasing. If you want to believe the gurus over the CBI, then that's your prerogative, but the gurus don't have a very good track record for being correct.

Wait a minute....you said that "30 trillion -> 30 billion sure sounds like an RD to me. If what you're interpreting it as is true, it would be exactly the same as the CBI telling everyone there will be a massive RV. Do you really think they would do that?"

and then you also said, "they have flat out said that they plan to introduce New Dinar in 50s, 100s, and 200s. Equivalent to 42, 84, and 168 USD. This isn't speculation, that's what they've said".

So you believe they will really tell us how much it will revalue? I don't. I think these are either general examples or outright misinformation.

They're not saying it will RV, they're saying it will RD. 25,000 dinar note worth 21 USD becomes a 25 dinar note worth 21 USD. Again, whether you believe the CBI or the gurus is up to you.

[bamjack75]

Hey BF(Wiener)D, There is no difference between you or any other guru. No one knows what is going to happen, except Shabbi. If your intention is to push your "panties in a lop" agenda then you are in the wrong forum. See ya!!!!

[shoegal1975]

I don't know why but when I read BigFrankD I thought of wieners.

Hahahaha! You said weiners!

[TXNOLE]

No, "my way" results in them having a bill worth 168 USD. That's not "wheel barrow" territory, that's better than the situation in the US.

There's no evidence that the CBI has been removing large denoms from the street. In fact according to the CBI the amount in circulation is increasing. If you want to believe the gurus over the CBI, then that's your prerogative, but the gurus don't have a very good track record for being correct.

They're not saying it will RV, they're saying it will RD. 25,000 dinar note worth 21 USD becomes a 25 dinar note worth 21 USD. Again, whether you believe the CBI or the gurus is up to you.

Big Frank - You join today and start lecturing us on how the LOP works..........believe it or not, most of us are quite aware of how this "theory" would be manifested! You are bordering on "haugtiness", something we dont really appreciate...........my advice is to step away from the keyboard, take a deep breath and jump over to the lobsters forum for awhile............but thanks for sharing your views, and oh yeah...........GO RV!

[CalvinLed]

Patients in the presents,

FAITH in the future,

Joy in the doing,

Not much to say but this, great site.

GO RV!

Calvin

If Iraq makes so 25000 = 25 dinar, im *****... But how can they do that??

Be civil WITH the LANGUAGE!

Edited March 20, 2012 by Markinsa
Language in Quote: Please Report it! Don't Quote It!

[SgtFuryUSCZ]

***///

LADIES AND GENTLEMEN!... Welcome to the RV WORLD of WRESTLING!

You're Referee tonight is CALVINLED...

In tonight's match-up: Everybody

versus

BigFrank-THE WEINER-Newbie....

Aaaaggghhhh....

(uh-oh.... is there a Doctor in the house...?)

[win1mich]

No, "my way" results in them having a bill worth 168 USD. That's not "wheel barrow" territory, that's better than the situation in the US.

There's no evidence that the CBI has been removing large denoms from the street. In fact according to the CBI the amount in circulation is increasing. If you want to believe the gurus over the CBI, then that's your prerogative, but the gurus don't have a very good track record for being correct.

They're not saying it will RV, they're saying it will RD. 25,000 dinar note worth 21 USD becomes a 25 dinar note worth 21 USD. Again, whether you believe the CBI or the gurus is up to you.

How can they make a 25,000 note worth 21usd when you also say a 50 dinar note will be worth 42usd. That makes no sense.

The people I listen to analyze the news articles, and therefore are not "Gurus". Gurus are the ones who say they have "contacts" and "inside sources" and call the RV as "done" once or twice a week.

I don't listen to PTR, for example.

Kaperoni, IQD Team, Gatekeepers, and a few others, analyze NEWS and never give a date or a rate, because no one knows.