thatoneguy Posted March 25, 2012 Report Share Posted March 25, 2012 Unified Gulf currency by 2015 seen Text size JEDDAH - GCC countries are in active discussion to decide upon the name and denominations of the proposed unified Gulf currency and its printing by mid-year in 2013, sources at the General Secretariat of the GCC said. The year 2015 is proposed for the launch of the unified Gulf currency, they said. However, the actual date of the launch will depend on the progress achieved by the monetary council of the GCC (Gulf Co-operation Council). The governing council of the Gulf Monetary Council includes the governors of the central banks of Saudi Arabia, Qatar, Bahrain and Kuwait. It would meet in Riyadh in the third week of March to discuss the progress made by its technical teams in charge of preparing institutional and regulatory frameworks for the council and follow up the achievements in this regard as the nucleus of the Gulf Central Bank. With regard to the new currency's tie-up with the US dollar, the source said it may have a full tie-up with a single currency, i.e., the US dollar or would tie-up with a bundle of currencies in which the US dollar would have a lion's share. The new currency is expected to bring smoothness in the fiscal and monetary policies, besides facilitating regional financial integration and intensifying financial discipline and transparency. It is also expected to boost internal and external investments. http://www.zawya.com/story.cfm/sidZAWYA20120311044841/lok044800120311/Unified_Gulf_currency_by_2015_seen?&zawyaemailmarketing Starlight posted this in another thread, I just brought it over. Link to comment Share on other sites More sharing options...
moneysoon Posted March 25, 2012 Report Share Posted March 25, 2012 Did someone say it is time to prepare for the next ride? I am as optimistic as the next fellow. However, the rescue team has not been able to get me off of this runaway coaster. But just like the days of old...once off, many of said, "which ride is next." Blessings! 1 Link to comment Share on other sites More sharing options...
sailin12 Posted March 25, 2012 Report Share Posted March 25, 2012 Wondering where this was going? Last year comments had been posted on a unified currency. So many possibilities with this action. Link to comment Share on other sites More sharing options...
TheArtistFormallyKnownAs Posted March 25, 2012 Report Share Posted March 25, 2012 Gulp He He lol 8 ) Link to comment Share on other sites More sharing options...
DinarBot Posted March 25, 2012 Report Share Posted March 25, 2012 At one time Actually thought this was possiibly why the Arab Summit was held in Iraq. To launch GCC Currency. Talks have Been going on for years. The Euro collapse probably has them thinking twice. 2 Link to comment Share on other sites More sharing options...
learning all i can Posted March 25, 2012 Report Share Posted March 25, 2012 The GCC voted a one currency Middle East back in 2009. The Gcc is made up of 6 countries and Iraq is not one of them..I guess the summit would be a good time to get them and others aboard...I just can't see a 1 currency outfit over there for quite some time. Too many differences between them. 1 Link to comment Share on other sites More sharing options...
sportfisher Posted March 25, 2012 Report Share Posted March 25, 2012 just hoping for a straight IQD RV before GCC currency takes-off 3 Link to comment Share on other sites More sharing options...
DinarBot Posted March 25, 2012 Report Share Posted March 25, 2012 The GCC voted a one currency Middle East back in 2009. The Gcc is made up of 6 countries and Iraq is not one of them..I guess the summit would be a good time to get them and others aboard...I just can't see a 1 currency outfit over there for quite some time. Too many differences between them. Yes. I think it was full steam ahead. Until the Euro Zone mess. Link to comment Share on other sites More sharing options...
IValueMe Posted March 25, 2012 Report Share Posted March 25, 2012 This is interesting news in light of China and Russia's agreement to trade with each other using their own currency, the decline of the Euro and apparent efforts by other nations to do an end run around the USD. These are fascinating times that we live in. Fascinating! Perhaps there will be a global currency reset much sooner than we think. Link to comment Share on other sites More sharing options...
RodandStaff Posted March 25, 2012 Report Share Posted March 25, 2012 With regard to the new currency's tie-up with the US dollar, the source said it may have a full tie-up with a single currency, i.e., the US dollar or would tie-up with a bundle of currencies in which the US dollar would have a lion's share. The new currency is expected to bring smoothness in the fiscal and monetary policies, besides facilitating regional financial integration and intensifying financial discipline and transparency. It is also expected to boost internal and external investments. Keeping the USD in the bundle or as the main lions share source would help the USD out for the time being, if indeed this happens... will be interesting to watch to see what happens. Thanks for bringing over the post thatoneguy! Did someone say it is time to prepare for the next ride? I am as optimistic as the next fellow. However, the rescue team has not been able to get me off of this runaway coaster. But just like the days of old...once off, many of said, "which ride is next." Blessings! I don't mind a roller coaster ride... as long as I have some dramamine and it's not the only ride I'm on! This "eggs all in one basket" is what gets to me... and in that respect I am all for this ride being over, so we can move on and find more "thrill rides"! 1 Link to comment Share on other sites More sharing options...
thatoneguy Posted March 25, 2012 Author Report Share Posted March 25, 2012 Yes, I have to admit that the crippled (yet stronger than our dollar) euro is carrying weight in regards to this argument. Maybe the countries will keep their own currency and perhaps introduce a regional currency? Wayyyyy too early to call. Link to comment Share on other sites More sharing options...
DAME1 Posted March 25, 2012 Report Share Posted March 25, 2012 just hoping for a straight IQD RV before GCC currency takes-off I agree sportfisher this may be our only hope as far as this investment goes I believe their plan (whomever they may be) is being implemented. It makes me sick to see and watch the lies. I guess this is how it's always been. 1 Link to comment Share on other sites More sharing options...
zigmeister Posted March 25, 2012 Report Share Posted March 25, 2012 My question is this, if they are planning to do this, why bother with new currency in Iraq? Maybe this is the reason there is some reluctance from government to proceed with the printing of new dinar. Link to comment Share on other sites More sharing options...
thatoneguy Posted March 26, 2012 Author Report Share Posted March 26, 2012 Precisely why this is an investment that may not pan out. Even Adam states, don't spend more than you can afford to lose, cos it is a possibility. A member last night suggested the ban of KEEP and another for LOP talk or not constantly cheering RV. I'm happy that you folks kicked some interpretations around regarding this, as anything can happen. I'm hoping that this is old, recycled info. They did put a moratorium on media, right. Link to comment Share on other sites More sharing options...
shabbadude Posted March 26, 2012 Report Share Posted March 26, 2012 They did, but they didn't specify the exact date, but it is to coincide with the Summit later this week. This really throws another spanner in the works don't it? Link to comment Share on other sites More sharing options...
bobab Posted March 26, 2012 Report Share Posted March 26, 2012 They can't get their own country together in 9 years, IMO there no way that they would be able to get several countries on the sam page. Link to comment Share on other sites More sharing options...
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