Delete the zeros from the country of Iraq will be transferred trillions to billions

[yota691]

Delete the zeros from the country of Iraq will be transferred trillions to billions

29.05.2012 | (Voice of Iraq) - add comment -

Sumerian News / Baghdad Central Bank of Iraq, Tuesday, that the deletion of zeros from the currency will transfer the country from the country of trillions to billions, while stressing that the project still needs the approval of Parliament and the Iraqi government. Deputy Governor of Central Bank of Iraq the appearance of Mohammed Saleh in an interview for " Alsumaria News "," project to delete three zeros from the Iraqi currency will move Iraq from the country of trillions to the country of billions, so Iraq will move from numbers 10 to the 12 to 10 to the 9 ". Saleh added that "the project is different from the issuance of a new currency as follows it not only deleted three zeros from the Iraqi currency, but delete the three places calculations of the Republic of Iraq, which starts from the budget of the family and end the general budget of the State ", stressing that" the project infrastructure of incomplete Bosasha and concepts at the bank. " Saleh pointed out that "the project is a logical scientific economic significance lies not only reduce the amount of currency, but also by reducing the reproduction arithmetic which would reduce the operational risks because of the large numbers and the large number of errors resulting from it. " and noted the benefit that "the project in spite of its importance, it needs to be approved by parliament and the government and the Central Bank of Iraq to its success through the formation of a joint committee and have the power to the resolution fixing the date and time of deletion of zeros, "noting that" everyone agrees to the deletion of zeros, but they are skeptics of the time and date of deletion in addition to the bank's ability to this project. " A member of the Finance Committee in the House of Representatives Haitham Jubouri on May 15 2012 to January of next year 2013 will see the deletion of three zeros and the replacement of the currency, as will next September 2012, the direct printing of new currency in different categories. The central bank accused in the (12 September 2011), government bodies obstructing the monetary reform and vowed persecuting, blaming those those responsible for exposing the interests of the country's financial risk. The Iraqi Central Bank Governor Sinan Shabibi at a meeting of independent bodies with Prime Minister Nuri al-Maliki, which was held, in (June 19, 2011), his willingness to create all supplies to replace the Iraqi currency. It is noteworthy that some economists believe that Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion needs to be a security and political stability as well as economic stability.

Read more: http://www.sotaliraq.com/mobile-news.php?id=58698#ixzz1wGV2V33s

[steveflex7]

Bump

[Off-the-grid]

At first I read this as a straight LOP article, but then I looked closer:

"the project is a logical scientific economic significance lies not only reduce the amount of currency, but also by reducing the reproduction arithmetic which would reduce the operational risks because of the large numbers and the large number of errors resulting from it. "

He is saying the MATH will be easier and budget issues etc. will be less error prone. NOT that the worth of Iraq will drop from trillions to billions, but the numbers will. So, the amount of dinar in Iraq will not be reduced (unless his currency remark is not just about cash "being used"). HOWEVER, Saleh does not come right out and say this! So still ambiguous as ever.

Peace and Prosperity

[Boozer]

I read this on another site and in the first line it reads BILLIONS to TRILLIONS would this be a miss print,, what would the diff be ?

[TQueezy]

Check this out... wrap your minds around this.

Another way to look at the deletion of three zeros

Let's say there are 4 billion banknotes in circulation worth 4 trillion dinar (a variety of 25,000, 10,000, 5,000, and 1,000 notes and lower ones too).

They want to increase the value of the currency but not reduce the money supply. How do you do it? Revalue, right? Yes. By dropping three zeros

You're making 4 billion notes worth 4 trillion into...

4 billion banknotes worth 4 billion dinars! That's a 1000:1 exchange within the currency itself. Then you adjust the dinar to dollar exchange rate to 1:1 and voila!

Heh... there's some holes in that theory and process. Tear it apart Lopsters!!!

I realize this is the same thing they have been talking about and I got excited for no reason. : /

So... yeah. Making the same amount of bills worth less but making what each base unit of each bill worth more is what we're aiming for.

[Butifldrm]

Check this out... wrap your minds around this.

Another way to look at the deletion of three zeros

Let's say there are 4 billion banknotes in circulation worth 4 trillion dinar (a variety of 25,000, 10,000, 5,000, and 1,000 notes and lower ones too).

They want to increase the value of the currency but not reduce the money supply. How do you do it? Revalue, right? Yes. By dropping three zeros

You're making 4 billion notes worth 4 trillion into...

4 billion banknotes worth 4 billion dinars! That's a 1000:1 exchange within the currency itself. Then you adjust the dinar to dollar exchange rate to 1:1 and voila!

Heh... there's some holes in that theory and process. Tear it apart Lopsters!!!

I realize this is the same thing they have been talking about and I got excited for no reason. : /

So... yeah. Making the same amount of bills worth less but making what each base unit of each bill worth more is what we're aiming for.

I like the way your thinkin!

[Bongalow]

http://translate.googleusercontent.com/translate_c?hl=en&prev=/search%3Fq%3DNahrain%26hl%3Den%26rls%3Dcom.microsoft:en-us:IE-SearchBox%26rlz%3D1I7GCNV_en%26prmd%3Divns&rurl=translate.google.com&sl=ar&u=http://www.uragency.net/2012-03-11-16-31-52/2012-03-11-16-33-35/3742-2012-05-29-18-09-33.html&usg=ALkJrhhdsLCCMiGZXZXwq9r5Wvdcm5zK4A

Big meeting tomorrow between the heads of the PUK. Maliki on standby!!

Thanks for the post yota...

Roll RV

[TQueezy]

I like the way your thinkin!

My thinking was off and I sounded confused...

In summary, I'm just saying that they can either reduce the money supply, automatically making each bill worth more due to there being less in circulation, or they can lower the exchange rate to match the dollar and remove excess banknotes down to whatever value they need to back with foreign reserves.

The way these articles make the removal of the three zeros sound, is as if they are going to LOP(redenominate by replacing the entire currency, not just adding new lower denomination banknotes to the existing currency lineup and slowly removing the larger denominations from circulation). The latter would be how to restructure the currency without Lopping, but they would need to reduce the amount of bills in circulation down to a manageable amount.

Flooding the market with dollars is smart because it allows this to happen.

People then get 1 new dinar for every 1 dollar they bring in.

[Doctor Smith]

The way I read it. They will be taking the zero's off the new notes. Making Trillions into Billions. At the same time they will increase the exchange rate by the same amount of Decimal places.

If they honor the zero's on the old notes it is called an RV. If not, it is known as a LOP.

[keylime]

This statement says a ton....

Saleh added that "the project is different from the issuance of a new currency as follows it not only deleted three zeros from the Iraqi currency, but delete the three places calculations of the Republic of Iraq, which starts from the budget of the family and end the general budget of the State "

Read more: http://dinarvets.com.../#ixzz1wIEzBpif)

"The project is different from the issuance of a new currency...." Ok, so "delete three zeros" is NOT "issuing" a "NEW CURRENCY"...meaning NO LOP..But "delete the three places calculations of the Republic Iraq"...meaning deleting the 3 zero's from .00086 to .86...(3 places calculations)...

Thus we have an RV with NOT NEW Currency, but "REprinted" and/or "REdesigned" currency without the "3 zeros"....NOT a LOP, but a release of smaller denominations to go along with a higher valuation of the dinar.....

Thus, "trillions down to billions" at a higher rate....

LOVE IT.....C'mon Aug., and Sept.

Edited May 29, 2012 by keylime

[Biker]

You are totally correct Mr Smith, this is what they have been saying all the long, and so many don't understand. They instantly think lop. They have said they would not lop for fear that no one would trust them any more and that the 000s would still be worth face value for a period of time.so if you have 25,000 Dinar notes they will still be worth 25,000 US dollars.at 1 to 1 Rate. Bring it to PAPA, GO RVVVVVVVVVVV

[jeepguy]

WOW it is about time ,,, they put this into under standing --- what throws me is the 10 too 12 and the 10 too 9 is this banking hours and i do hope they get this done by september .ooo86 =.86 or adjusted too 1 too 1

[keepmwlknfny]

This statement says a ton....

Saleh added that "the project is different from the issuance of a new currency as follows it not only deleted three zeros from the Iraqi currency, but delete the three places calculations of the Republic of Iraq, which starts from the budget of the family and end the general budget of the State "

Read more: http://dinarvets.com.../#ixzz1wIEzBpif)

"The project is different from the issuance of a new currency...." Ok, so "delete three zeros" is NOT "issuing" a "NEW CURRENCY"...meaning NO LOP..But "delete the three places calculations of the Republic Iraq"...meaning deleting the 3 zero's from .00086 to .86...(3 places calculations)...

Thus we have an RV with NOT NEW Currency, but "REprinted" and/or "REdesigned" currency without the "3 zeros"....NOT a LOP, but a release of smaller denominations to go along with a higher valuation of the dinar.....

Thus, "trillions down to billions" at a higher rate....

LOVE IT.....C'mon Aug., and Sept.

Not quite.....

[MrFnHappy]

Not quite.....

LOL, some folks just don't get it.

[TXNOLE]

Not quite.....

Share your thoughts with us! Thanks.

[cricket10]

Shabs has said over and over again in the past year, the two currencies would coexcist and the value of each would not change, until all large notes were back in. I have to believe this is the case and we have no problem here. JMO based on whats been said in the past by the CBI. Your thoughts????????

[keepmwlknfny]

I just fail to see how you plan on printing new currency to replace the current notes and drop the money supply from trillions to billions by exchanging old to new in even amounts.....

Redenominating the current notes we hold is seperate from issuing a new currency. The reason why is cause its not the new currency that is redenominated.....your not removing zeros off the new notes, your treating the old notes as if they have no zeros in relation to the new currency coming out. The new notes replacing the ones we have will have the same value as its older counterpart....meaning that the new 25 note replacing the 25k note will have the same value in USD as the 25k note its replacing....they will both be equal in value hence 25k=25 new dinar.

When you take the zeros off the notes, everything else is affected.....the decimal place on the exchange rate will change for the new currency because the NEW currency will not be diluted and inflated....which is why they keep talking about taking trillions down to billions.....

If they have 30,000,000,000,000 dinar in circulation and they redenominate by deleting three zeros, you will end up with 30,000,000,000 dinar in the NEW currency......each unit of currency would be worth more in proportion to how much was removed.....which is why you would also go from an exchange rate of .00086 with the old currency, to .86 with the NEW currency

[jeepguy]

hey walk --- that last part .ooo86 too .86 that would be good for us ,, i am thinking ,,, if they start printing new notes and the value of new nots is 5---10---20-- 50 and worth that <--- then raise rate .86 mmmmmmm doesn`t fit ,,,,,,,but if we make the numbers closer too the 1 too 1 ,,,that is better ,,,, we wait and see !!!! we can talk talk talk ,,, but in the end we have too wait and see ,,,, this is kind of closer too the end hoping,,,, all this droping oooo and thinking like our banking system ,,, are we thinking right by not thinking in iraqi banking systems ??? after all they did have a 3.oo+ rate in long run ,,, thanks buddy just asking

[keepmwlknfny]

hey walk --- that last part .ooo86 too .86 that would be good for us ,, i am thinking ,,, if they start printing new notes and the value of new nots is 5---10---20-- 50 and worth that <--- then raise rate .86 mmmmmmm doesn`t fit ,,,,,,,but if we make the numbers closer too the 1 too 1 ,,,that is better ,,,, we wait and see !!!! we can talk talk talk ,,, but in the end we have too wait and see ,,,, this is kind of closer too the end hoping,,,, all this droping oooo and thinking like our banking system ,,, are we thinking right by not thinking in iraqi banking systems ??? after all they did have a 3.oo+ rate in long run ,,, thanks buddy just asking

Whats up buddy? The .00086 to .86 would be good if thats the only zeros being removed.....the way they are talking they are saying off both the notes and the exchange rate so it would be a neutral event for us....no loss, no gain.....

Would like to see them just take the zeros off the .00086 but they always talk about the notes too.....

I dont think we can compare our banking system to Iraqs.....that truly is a apples to oranges scenario....one is electronically based and one is cashed based....

[Biker]

Just my thoughts, i myself don't think we will lose on this long train ride we have been on.Alls i can see from the last several yrs is the train is a couple of miles out of the station and we can all get off with smiles on our faces.The loper's will have hart burn at the end but will get there money and a bottle of pepto and they to will be fine .

[keepmwlknfny]

Just my thoughts, i myself don't think we will lose on this long train ride we have been on.Alls i can see from the last several yrs is the train is a couple of miles out of the station and we can all get off with smiles on our faces.The loper's will have hart burn at the end but will get there money and a bottle of pepto and they to will be fine .

I sure hope so!

[yota691]

Whats up buddy? The .00086 to .86 would be good if thats the only zeros being removed.....the way they are talking they are saying off both the notes and the exchange rate so it would be a neutral event for us....no loss, no gain.....

Would like to see them just take the zeros off the .00086 but they always talk about the notes too.....

I dont think we can compare our banking system to Iraqs.....that truly is a apples to oranges scenario....one is electronically based and one is cashed based....

How can you say this!! the way they are talking they are saying off both the notes and the exchange rate seems to me that what you preach!! Folks don't let this concern you too much as this is being accomplished by the Huge daily auctions by bringing the local currency in circulation down into the billions. The currency we hold becomes electronic and used for foreign reserves and other uses like oil trade. IMHO.

Edited May 29, 2012 by yota691

[yota691]

I would like you to look at this article an get a few thoughts on from you Keep!!

Cash reserve on tipping

BAGHDAD - Samer Ibrahim

Read more: It doesn't have the word zero in it, but it a Great Article (IMHO) if you go the time!!

[hame55]

This statement says a ton....

Saleh added that "the project is different from the issuance of a new currency as follows it not only deleted three zeros from the Iraqi currency, but delete the three places calculations of the Republic of Iraq, which starts from the budget of the family and end the general budget of the State "

Read more: http://dinarvets.com.../#ixzz1wIEzBpif)

"The project is different from the issuance of a new currency...." Ok, so "delete three zeros" is NOT "issuing" a "NEW CURRENCY"...meaning NO LOP..But "delete the three places calculations of the Republic Iraq"...meaning deleting the 3 zero's from .00086 to .86...(3 places calculations)...

Thus we have an RV with NOT NEW Currency, but "REprinted" and/or "REdesigned" currency without the "3 zeros"....NOT a LOP, but a release of smaller denominations to go along with a higher valuation of the dinar.....

This is what I have been expecting. It's all language meant to be ambiguous to confuse - issuing "new currency" can mean new lower denominations - it will be "new" and go with the new exchange rate, knocking three zeros off the .00086 rate. In a sense it is a new currency in that it is new, reprinted with Kurd crap and all, but the old three zero notes will still be honored, as in our system with the 10,000 bill.

Folks there is plenty of abundance out there - Facebook employees have become millionaires by being in the right place. We are in the right place to benefit from a rich country's reintroduction to global markets. Fiat currency is created out of thin air - ask B. Bernanke - and believe me, Iraq is fiat currency state. They are now one of our official "Client" states and a lot of money will be made.

Just wait....

[dinarful]

My thinking was off and I sounded confused...

In summary, I'm just saying that they can either reduce the money supply, automatically making each bill worth more due to there being less in circulation, or they can lower the exchange rate to match the dollar and remove excess banknotes down to whatever value they need to back with foreign reserves.

The way these articles make the removal of the three zeros sound, is as if they are going to LOP(redenominate by replacing the entire currency, not just adding new lower denomination banknotes to the existing currency lineup and slowly removing the larger denominations from circulation). The latter would be how to restructure the currency without Lopping, but they would need to reduce the amount of bills in circulation down to a manageable amount.

Flooding the market with dollars is smart because it allows this to happen.

People then get 1 new dinar for every 1 dollar they bring in.