Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
Bumper64

AC's update 04/13/12 Resolution Passed to Suspend The New Iraq Currency

Recommended Posts

Americancontractor.com_-300x199.jpgIraq Dinar Currency

There are several articles published recently that are mentioning the Central Bank of Iraq (CBI). Who by the way, are scrambling to control the outflow of U.S. Dollars in the market. The CBI has put in place the restrictions for the banks and the money exchange centers however, this has not solved any of the problems. Unfortunately, criminal gangs and other entrepreneurs are continuing to gain more U.S. dollars to send to both countries of Iran and Syria. Both countries are under sanctions and their currencies are depreciating rapidly. The U.S. dollars are also in the streets of Iraq as the confidence in the Iraq dinar is not as high as it has been in previous years.

In January 2012 the CBI announced that everything was fine with the Iraq dinar and now in April, you have the dinar depreciating against the dollar. The Governor, Shabibi will have a lot of explaining to do when he meets with the Council of Ministries.

When the Iraqi government gives the go ahead or authorization to the print the new currency the two (old & new) will co-exist with the current 2003 Iraq Dinars. Note that this will increase the money supply. I have previously mentioned this (see posting from 1 March) and now it has been confirmed by the Iraq news media. Also, contrary to what some may be thinking, the new currency will carry the same exchange rate.

The project to print the new Iraq currency has been placed on hold. Prime Minister Malki has signed resolution stating the project will be suspended if not canceled. The Iraq government is very concerned about the elements inside Iraq who are undermining the economy of Iraq. The department of Cabinet Affairs in the General Secretariat of the Council passed a resolution to stop all procedures on the changing of the new currency until further notice.

Here is something to think about, if the CBI had all the authority why did the Cabinet Affairs have to pass a resolution to stop the process?

On another note, all of the council ministers are in support of Nuri al-Maliki, the current Prime Minister of Iraq. These Minister’s are loyal to Maliki and will continue to support him.

Prime Minister Nuri al-Maliki has the unwavering support of Iran and the USA as the leader of Iraq and will seek a third term in 2014.

This is post# 1 in March that he is referring back to!!

Dr. Sinan al-Shabibi Responds to the Media

Dr.-Sinan-al-Shabibi-Responds-to-the-Media.jpgDr. Sinan al-Shabibi

The Central Bank of Iraq (CBI) governor, Dr. Sinan al-Shabibi has conducted an interview. Dr. al-Shabibi stated in his interview that project to delete the three zero’s (which is all code for the new Iraq currency) will be introduced to absorb inflation and focus on reducing the money supply.

I would like to mention an important fact that has never been mentioned. The fact is that when you delete the three zero’s (introduce new currency) you will be increasing the money supply not reducing it. The CBI is desperate attempting to keep a lid on this fact. The CBI will eventually reduce the money supply after all denominations are introduced in the future. This timeline has not been revealed by the CBI or the government of Iraq. Dr. al-Shabibi stated that a total of six or seven new denominations of the Iraq currency would be available. Dr. al-Shabibi reconfirmed earlier statements that the Iraq government still needs to get approval for the project of the new Iraq currency through legislation. There has been no impact on the Iraq economy from the series of media reports of the counterfeit Iraq currency. Time will tell what effects the counterfeit currency will have especially with the current sanctions on Iran. Iran may find themselves possibly cut off from the SWIFT banking transactions.

  • Upvote 4

Share this post


Link to post
Share on other sites

So are you saying by posting this that 'everything is on hold" until who knows when.

laugh.gif I'm not saying a word!!!!! wink.gif Who knows what AC means by this!!

  • Upvote 2

Share this post


Link to post
Share on other sites

Before anyone starts looking for a bridge to jump from please keep in mind that this is the Middle East. Stop looking at things through a Western mindset. Things in the Middle East are not always as they appear. Actually they usually are NOT as they appear. But, if you are determined to give up on this investment and are sure you are going to get nothing for your dinar I will be willing to pay you $1 per million and I would even pay postage.

  • Upvote 6
  • Downvote 6

Share this post


Link to post
Share on other sites

Before anyone starts looking for a bridge to jump from please keep in mind that this is the Middle East. Stop looking at things through a Western mindset. Things in the Middle East are not always as they appear. Actually they usually are NOT as they appear. But, if you are determined to give up on this investment and are sure you are going to get nothing for your dinar I will be willing to pay you $1 per million and I would even pay postage.

How can you be so generous with your offer?

  • Upvote 4

Share this post


Link to post
Share on other sites

I've never put much stock in anything AC says, he puts his spin on news just like anybody else...

Edited by thegente
  • Upvote 3

Share this post


Link to post
Share on other sites

But I thought the CBI could do what they wanted? Someone please clarify what they can do in this situation.

Share this post


Link to post
Share on other sites

laugh.gif I'm not saying a word!!!!! wink.gif Who knows what AC means by this!!

Who is "AC"??? I didn't see any notations indicating this was from someone else...!!!

Share this post


Link to post
Share on other sites

Here is an indisputable fact:

Council of ministers does NOT HAVE THE POWER TO MAKE THAT DECISION.

PERIOD. END OF DEBATE!!!!!!

  • Upvote 2
  • Downvote 1

Share this post


Link to post
Share on other sites

Here is an indisputable fact:

Council of ministers does NOT HAVE THE POWER TO MAKE THAT DECISION.

PERIOD. END OF DEBATE!!!!!!

No disrespect but you claim "fact" very often but never provide links. Do you have proof?

  • Upvote 3
  • Downvote 2

Share this post


Link to post
Share on other sites

Here is an indisputable fact:

Council of ministers does NOT HAVE THE POWER TO MAKE THAT DECISION.

PERIOD. END OF DEBATE!!!!!!

SORRY JOE P BUT I USED TO LISTEN TO YOU BABBLE ABOUT ABOUT FOREX & IRAQ ON CALLS ON THE OTHER SITE. NOT IMPRESSED.

  • Upvote 5

Share this post


Link to post
Share on other sites

well say what you want of AC he said back in January that nothing would happen until June or July of this year. He has good information and has been spot on. The problem is its not good news.

  • Upvote 1

Share this post


Link to post
Share on other sites

I can smell the smoke all the way in Maryland USA from Iraq, hold on to the cheeks of your asses folk cause the train is running 90mph and in a bad turn. :blink::rolleyes:

  • Upvote 1

Share this post


Link to post
Share on other sites

No disrespect but you claim "fact" very often but never provide links. Do you have proof?

Hey, cooked!! Good to see you!! I don't know where I got this information, so I can't back it up, but I had believed (so must have gotten it somewhere) that the Council of Ministers has the responsibilty to vote on whether or not to print new money, which is why Shabs has always gone to them to keep them in the loop and to explain things to them. Is this right? Do they have that power? Or did I just manage to acquire some "garbage in" somewhere along the way?

I can smell the smoke all the way in Maryland USA from Iraq, hold on to the cheeks of your asses folk cause the train is running 90mph and in a bad turn. :blink::rolleyes:

Whoa!! Good imagery there, Biker Man. :) haha

Share this post


Link to post
Share on other sites

well say what you want of AC he said back in January that nothing would happen until June or July of this year. He has good information and has been spot on. The problem is its not good news.

Some of us appreciate, and seek out, a realistic viewpoint.

  • Upvote 2

Share this post


Link to post
Share on other sites

well say what you want of AC he said back in January that nothing would happen until June or July of this year. He has good information and has been spot on. The problem is its not good news.

I have to agree uncs..Ac has never tried to tickle our ears...He brings it the way he sees it, good or bad...We don't hear from him often but when we do, I personally listen.

Share this post


Link to post
Share on other sites

What does AC mean - - the new currency will carry the same exchange rate? IMO all currency will be subject to the same exchange rate. The exchange rate, whatever it is, will be the same for all currency.

  • Upvote 1

Share this post


Link to post
Share on other sites

Some of us appreciate, and seek out, a realistic viewpoint.

Theres many of the RV yeah go RV PTR crowd here nowadays though

  • Upvote 1

Share this post


Link to post
Share on other sites

It has appeared that many have never cared for what AC brings to the table. Probably because it is not anything that we ever care to hear. Now, I know that we have seen nothing extremely bad from him, but I recall how he continuously stated how ch. 7 was not lifted. As of today, it appears that it is still not lifted, so that helps verify his credibility. He won't try to tickle us with news, but he seems rather blatant on how he sees it. And in my opinion, that is how some of us like it... (no b.s.)

  • Upvote 2

Share this post


Link to post
Share on other sites

They would like to pull the US dollars out of there economy. Iran and Syria are doing that for them and no body even suspects what is going on except a few GOV's. If you exchange 25000 current IQD for new lower same exchange rate IQD you will not increase the money supply. They will need to raise the exchange rate before new IQD is introduced so it will be desirable once enough US dollars are removed. If you wanted speculator's to think the stuff was hitting the fan in Iraq this would be it or close to it. We wait.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.