Central Bank: Delete the zeros will be transferred from the country of billions to trillions

[rsskelton]

Central Bank: Delete the zeros will be transferred from the country of billions to trillions

بتاريخ : الإثنين 04-06-2012 02:29 صباحا Date: Monday 04/06/2012 2:29

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%2Falmadapaper.net%2Fnews.php%3Faction%3Dview%26id%3D66905&act=url

Baghdad / agencies

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh said that the project to delete three zeros from the Iraqi currency will be moved from the country of Iraq, a country of billions to trillions, so the numbers will move from Iraq 10 to the 12 to 10 to the 9 ".

Saleh added that the project is different from the issuance of a new currency which entail not only the deletion of three zeros from the Iraqi currency, but delete the three places a calculation of the Republic of Iraq, which starts from the budget of the family and ending with 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 importance not only reduce the amount of currency, but also reduce the computational reproduction, which would reduce the operational risks because of the large numbers and the large number of errors resulting from it. "

He noted the benefit to 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 Mchkkon at a time and date deletion in addition to the ability of the Bank on this project.

It is noteworthy that some economists believe that Iraq is ready 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.

For his part, criticized a member of the Finance Committee in the House of Representatives Abdul-Hussein al-Yasiri monetary policy pursued by the central bank, adding that he puts the instructions and financial rules and the violation of their application.

Yasiri said, according to the Agency (news): The officials and decision-makers at the central bank tend to emotional style, what makes them "Itnervzon" Once the high value of the dollar against the dinar, without resorting to radical solutions or thinking about the development director for any crisis, an emergency occur in the financial system of the country.

He added that monetary policy currently followed in the country need to reconsider them in line with the new economic order that a shift from authoritarian central to the free market, pointing out that the central bank intervention to him substantial funds is not known how to employ them in order to preserve the value of local currency and the economy .

He explained: that the report issued by the Financial Supervision refers to the Central Bank sets rules and regulations pertaining to the financial system and currency in the country, the first application of the contrary, what a sharp fluctuation Find in the stability of the Iraqi dinar against the dollar in recent times.

[DWitte]

Where do you find this stuff? Good job except sometimes I don't understand a word of it. I thought they were going from trillions of dinar to billions. Maybe you should leave the arabic back in and I can make up my own stuff with that. Who could dispute me? But then Markinsa would come along and take it out anyway. Oh well.

You seem pretty smart RSS. What's your take on this?

PS Good Luck

Edited June 4, 2012 by DWitte

[Acepup]

I know that this had been discussed last week but have been away for a while and was wondering if someone could give me their take on what this means again. Thanks all

Mohammed Saleh said that the project to delete three zeros from the Iraqi currency will be moved from the country of Iraq, a country of billions to trillions, so the numbers will move from Iraq 10 to the 12 to 10 to the 9 ".

10 to the 12 to 10 to the 9 - sounds like the nine pieces of eight! I know bad joke but that is all I had right now.

The Dude abides...

[rsskelton]

Where do you find this stuff? Good job except sometimes I don't understand a word of it. I thought they were going from trillions of dinar to billions. Maybe you should leave the arabic back in and I can make up my own stuff with that. Who could dispute me? But then Markinsa would come along and take it out anyway. Oh well.

You seem pretty smart RSS. What's your take on this?

PS Good Luck

Lol, I haven't a clue what this is saying my friend! Nope, I'm not one of the smart people. I just try to find it, bring it here, then let the smart guys tell me what it means. This particular one.... I don't know. Looked pretty darn interesting though , huh?

RSS

[DWitte]

Lol, I haven't a clue what this is saying my friend! Nope, I'm not one of the smart people. I just try to find it, bring it here, then let the smart guys tell me what it means. This particular one.... I don't know. Looked pretty darn interesting though , huh?

RSS

I would like to reference my first wife when I say looks can be deceiving.

[Acepup]

bump

The Dude abides...

[KamelKeeper]

I know that this had been discussed last week but have been away for a while and was wondering if someone could give me their take on what this means again. Thanks all

Mohammed Saleh said that the project to delete three zeros from the Iraqi currency will be moved from the country of Iraq, a country of billions to trillions, so the numbers will move from Iraq 10 to the 12 to 10 to the 9 ".

10 to the 12 to 10 to the 9 - sounds like the nine pieces of eight! I know bad joke but that is all I had right now.

The Dude abides...

The translation is incorrect. It is from trillions to billions, and the 10 to 12, etc., is backwards and screwy, and is referring to deleting of zeros from trillions to billions; 12 to 10, to 9. 12 to 9 is the three zeros that will be deleted.

[sandstorm]

Saleh is also saying its not just the issuance of a new currency with the same present value. the new currency will lack the three zeroes from the face and also move three decimals from the exchange rate.

[yota691]

This could be when the CBI co-exist two type of currency together, with the end result after the 2 year you have 9 values of currency, in the end!! I might be off!!

[unirod]

RSS,

Nice find!

What could be more clear as to the CBI's project ZERO? even a cave man can understand this article. It's what all us true Dinarian's have believed all along!!! It's scientific and it just makes good business sense!!!!!

[TQueezy]

This article describes the change in computation for the current value of the money supply in iraq's local currency, the dinar.

10 to the power of 12 is "trillions"

reduced to

10 to the power of 9, which is "billions"

There's no mention of reducing the amount of notes in circulation, the money supply, only what it will be worth numerically.

This is the puzzling part. The only thing that makes sense to me is to introduce all new denominations of the same currency and change the exchange rate. That would mean honoring the face value of the old notes with the new exchange rate.

[keepmwlknfny]

This article describes the change in computation for the current value of the money supply in iraq's local currency, the dinar.

10 to the power of 12 is "trillions"

reduced to

10 to the power of 9, which is "billions"

There's no mention of reducing the amount of notes in circulation, the money supply, only what it will be worth numerically.

This is the puzzling part. The only thing that makes sense to me is to introduce all new denominations of the same currency and change the exchange rate. That would mean honoring the face value of the old notes with the new exchange rate.

What its worth IS the money supply....not the amount of notes. But I think they have said it so many times over and over (reducing the money supply it should be understood by now lol....I just wish it would all go away and Shabs wakes up with amnesia and forgets all about his plan....

[skitealwedrop]

The translation is incorrect. It is from trillions to billions, and the 10 to 12, etc., is backwards and screwy, and is referring to deleting of zeros from trillions to billions; 12 to 10, to 9. 12 to 9 is the three zeros that will be deleted.

It's nice to see that you admitted that there are translation issues in the article. Screwing up important numbers as you suggested is not an option.

[skrappyone]

I have heard so many different ways people have tried to describe and analize this, lol. I am still totally confuzzed. I aint got the smarts to figure it out, but keepm, easy, and kamel do a pretty good job with what they say. Good job folks. I need to buy the book "Dinar for Dummies" and send a copy to Oakie. :lol: :lol: GO RV already.