Member of Finance Committee: the application of the deletion of zeros depends on political and economic stability in the country

[gamaray]

Member of Finance Committee: the application of the deletion of zeros depends on political and economic stability in the country

On: Friday 06/22/2012 13:48

Baghdad (news) .Confirmed member of the Finance Committee MP / Kurdish coalition blocs / Najiba Najib, that the implementation of a project to restructure the Iraqi currency after deleting three zeros of which depends on political and economic stability in the country.

The answer (for the Agency news) Friday: The central bank completed all the procedures related to the project to delete the zeros of the three local currency and the expected signal from the executive and legislative branches to begin its implementation.

She explained: that the project was postponed by the government indefinitely as a result of the political crisis experienced by the Iraqi arena and in addition to the instability of the exchange rate of the Iraqi dinar against the U.S. dollar, saying that the project depends on the political and economic stability in the country.

She pointed out: to increase the value of the dollar against the dinar significantly during the last period to make the central bank and the legislature and the executive reconsider the project because it is a great interest to all citizens and to the setting calls for an integrated economic feasibility before applying it.

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and switch the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the upcoming changes.

The Council called for the prime minister's central bank to wait a project to delete the zeros of the three local currency, saying he was a big project and needs to be enough time to apply it. / Finished / 8. N. R /

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=www.ikhnews.com

[jg1]

The central bank completed all the procedures related to the project to delete the zeros of the three local currency and the expected signal from the executive and legislative branches to begin its implementation.

Nice, bring it on. Thanks, gamaray

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[SocalDinar]

The central bank completed all the procedures related to the project to delete the zeros of the three local currency and the expected signal from the executive and legislative branches to begin its implementation.

Does this mean the small denoms are ready also?

Reset the value and then release the notes Shabs!

Thanks Gamaray

[fnbplanet]

Najiba Najib (which I believe translates to: b*tchy b*tch) has been against the reform of the currency since last September, touting the "corruption/counterfeiting" BS line. She hasn't given one single reason for it being stopped, because she is just spewing the political obstructionism coughed up by the National Alliance.

I also envy her. I wish my mustache was as thick as hers.

[sandstorm]

Delete the zeroes and switch currency. Not what i wanted to hear.

[KamelKeeper]

Najiba Najib (which I believe translates to: b*tchy b*tch) has been against the reform of the currency since last September, touting the "corruption/counterfeiting" BS line. She hasn't given one single reason for it being stopped, because she is just spewing the political obstructionism coughed up by the National Alliance.

I also envy her. I wish my mustache was as thick as hers.

She, b*tchy b*tch, does not give reasons why because she does not understand the process. Neither do I,but I am not sitting on a Finance Committee and talking to the press.

fnbplanet, she is probably warmer in the winter than you too, and that's without a coat..

Edited June 22, 2012 by KamelKeeper

[alan_coaks_3]

i have never hered of any currency that took off zeros that wasnt called an RD if so i would l;ike someone to find me 1. and oh yeah the us dollar didnt RD there high nots they used to have they just elimnated them thats all not an RD . and for those people saying i am a " lopster " i assure you i have dinar

[AkinNAUY]

Nice to see the roller coaster coming to an end... Whatever the outcome, ill be happy cause ive learned alot and im gladly to accept the outcome!

[caz1104]

Najiba Najib (which I believe translates to: b*tchy b*tch) has been against the reform of the currency since last September, touting the "corruption/counterfeiting" BS line. She hasn't given one single reason for it being stopped, because she is just spewing the political obstructionism coughed up by the National Alliance.

I also envy her. I wish my mustache was as thick as hers.

Nice to see the roller coaster coming to an end... Whatever the outcome, ill be happy cause ive learned alot and im gladly to accept the outcome!

[yota691]

Nice to see the roller coaster coming to an end... Whatever the outcome, ill be happy cause ive learned alot and im gladly to accept the outcome!

You got that right Whatever the outcome!! But if does RV are the Lopster gonna show up in Vegas at the RV party?

[Elixirbaby]

You got that right Whatever the outcome!! But if does RV are the Lopster gonna show up in Vegas at the RV party?

I hope so, cause the first round is on me.

[Realdinar]

What do they mean by the deletion of the three zeros? Three zeros of what?

[skinz]

What do they mean by the deletion of the three zeros? Three zeros of what?

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That is the million dollar question! Just an FYI, this is a sensitive subject and will no doubt lead to a heated discussion which will end in the closing of this thread. I'll give you a quick answer to avoid any negative comments (quick and dirty).

2 different sets of opinions on "deletion of 3 zeros"

The "face" or "nominal?" value of the currency is .00086 to the US dollar. The people who believe this article is a positive one for this investment claim their interpretation is deleting zeros off the .00086 and making the value .86. Which will give you close to a 1 to 1 exchange for your dinar. A nice profit to your investment.

The second interpretation of the "deletion of 3 zeros" or "LOP", is basically to take your $25,000 note, and delete the zeros of the currency which will make your 25k note.... $25. In this situation you will just break even (minus any bank fees).

I suggest you read the articles, research details, and take every opinion as it is... an opinion. The LOP section has a ton of opinions on both sides to the articles and is full of information.

[Realdinar]

That is the million dollar question! Just an FYI, this is a sensitive subject and will no doubt lead to a heated discussion which will end in the closing of this thread. I'll give you a quick answer to avoid any negative comments (quick and dirty).

2 different sets of opinions on "deletion of 3 zeros"

The "face" or "nominal?" value of the currency is .00086 to the US dollar. The people who believe this article is a positive one for this investment claim their interpretation is deleting zeros off the .00086 and making the value .86. Which will give you close to a 1 to 1 exchange for your dinar. A nice profit to your investment.

The second interpretation of the "deletion of 3 zeros" or "LOP", is basically to take your $25,000 note, and delete the zeros of the currency which will make your 25k note.... $25. In this situation you will just break even (minus any bank fees).

I suggest you read the articles, research details, and take every opinion as it is... an opinion. The LOP section has a ton of opinions on both sides to the articles and is full of information.

Why doesnt the cbi just explain themselves? Why all the secrecy concerning the real meaning?

[zigmeister]

Why doesnt the cbi just explain themselves? Why all the secrecy concerning the real meaning?

You can look at in a couple of ways. What they are saying seems to be pretty clear. We are deleting zero's, issuing new currency and raising the value, in 2013. This appears to be an RD. However, if they are really going to RV before they do the other gig, they would not announce it. As Shabibi said when asked when he was going to RV, he said...."If I knew this, I would not tell you."

[skinz]

Why doesnt the cbi just explain themselves? Why all the secrecy concerning the real meaning?

Read more:

I wish it was that easy! There's no way the CBI would come out and tell everyone in detail that there will be a revaluation on their currency... could you imagine the insane demand on the currency and chaos that would ensue? It's like a casino telling the house which machine is about to hit on a jack pot. I will mention though, some of the articles do mention countries like Turkey, Russia, and Spain who clearly "lopped zeros" from their currency indicating a more negative outcome for our investment. This is thought by some to be "smoke and mirrors" which is just lies to keep investors at bay. :x

[dinarx2]

Also one needs to consider that they claim there is 33 trillion dinar in circulation, if they "lop" it would make it 33 billion dinar in circualtion. Since the Central bank claims to have reserves of over 60 billion US dollars the 33 billion dinar left after the lop would be worth a minimum of 2.00 each. That is if you only count the reserves not the oil, gold, silver, natural gas and all the other assests that Iraq has... Either way it seems we will win but one way is definitely more profitable than the other.

Edited June 22, 2012 by dinarx2

[rockfl9]

Realdinar, Two problems.. Arabic is a difficult language to translate electronicaly so the sentinces are somewhat criptic AND some of the statements are from headline grabbers who do not know what they are talking about...

The clearest statement from CBI is that there will be New currency where the dinar(new) will be 1000 times more valuable than the old. But the purchasing power will not change...The current dinar will remain in circulation (To avoid a rush on the banks) but will rotate out over 1 or 2 years. Ive seen both dates as CBI itself does not know if they can ramp up supply....In typical Iraqifashion that decision may remain open-ended.

For the statement "the dinar will increase in value" to be true the purchasing power will have to increase...Not clear how they expect this to happen ? A BUMP or incremental appreciation!

[sandstorm]

If the cbi was rd'ing, they would tell you and advertise it for a while. if theres going to be a rv theyre not going to tell you.

if this was all about a rv, id expect almost pure silence from them. once the rate goes up there citizens will adjust just like they have since it was 3000:1.

This everyday or every other day rd/lop, delete three zeroes and switch the currency, talk is to frequent and is pounded home. ie, the value wont change, two currencys existing in the economy, 1000 becoming one. i feel they talk too much and describe the opposite of a rv, that if they did rv the people would be clueless. imo its becoming too much to be fake. but i hold less than a million dinar, so i could care less either way, ill wait them out forever. when or if just isnt important to me

Also one needs to consider that they claim there is 33 trillion dinar in circulation, if they "lop" it would make it 33 billion dinar in circualtion. Since the Central bank claims to have reserves of over 60 billion US dollars the 33 billion dinar left after the lop would be worth a minimum of 2.00 each. That is if you only count the reserves not the oil, gold, silver, natural gas and all the other assests that Iraq has... Either way it seems we will win but one way is definitely more profitable than the other.

The m2 is 60 trillion dinar backed by approx. 60 billion dollars. so they are covering at 100% or a little more. 33trillion is physical cash dinar outside the banks(currency in circulation)

Edited June 22, 2012 by sandstorm

[fnbplanet]

She, b*tchy b*tch, does not give reasons why because she does not understand the process. Neither do I,but I am not sitting on a Finance Committee and talking to the press.

fnbplanet, she is probably warmer in the winter than you too, and that's without a coat..

Ya know, I brush my 110 pound German Shepherd out more than her groomers rake her fur......and she lives in a desert!

[SocalDinar]

You got that right Whatever the outcome!! But if does RV are the Lopster gonna show up in Vegas at the RV party?

Well we all know that the lopsters have dinar, and why?

Because there is a chance this could happen!

Since we are anonomous here I'm sure they will be there with party hats on.

GO SHABS!!

[leesburg]

Well we all know that the lopsters have dinar, and why?

Because there is a chance this could happen!

Since we are anonomous here I'm sure they will be there with party hats on.

GO SHABS!!

many bought their dinars in 2004 ...2005 .... before any information was put out ...and their was only speculation... iraqs transparency is a necessity for their credibility on any future currency... but we do know that ..if they were going to rv their currency .. it would have to be discuised with propaganda ...im still holding my dinars in case all these storys are propaganda ....but not one zero deletion story says anything but lop ..... this is what iraq has been telling everyone ..it will lop ...but we will wait it out .. and see ...their wont be any losses .. no reason to sell ... but iraq definatly is not telling the world this deletion of zeros means your old dinars will equal the new dinars in value one old for one new ... they are saying you will need one thousand old dinars .. to buy one new dinar... thats the new revaluation... so if you bought your dinars for 1000 dollars for one million dinars .. they will be worth 1000 dollars or 0ne thousand new dinars ..... for those one million old dinars .. no change in value .. just redonominated and new ones would have seperate rates from old ones ... your old dinars will be still good .. you wont lose a dime .. but neither will you gain a dime ....if you paid one thousand dollars for your old dinars .. no one will sell their dinars in thinking they will lose money if they dont .. they know they will simply break even ..but there is a small chance they are using propaganda .. so why sell now after 8 or 9 years /... wait it out .. we may be able to just go to any bank next year and cash them in .. and not pay a dealers cost involved ..

[alan_coaks_3]

What do they mean by the deletion of the three zeros? Three zeros of what?

3 zeros of the currency banknotes

[sandstorm]

3 zeros of the currency banknotes

It will appear that way, but thats not exactly accurate. a 10,000 old dinar will still be 10,000 old dinar it will be the old rate .00086.

And a 10 new dinar will see the rate of .86

So technically they wont come off the notes. but when looking or thinging about it, that old 10,000 will be the same as having a new 10.

The way you put it, would make it a devaluation not a neutral event.

10 old at .00086= .0086

When it will be like this

10,000 old @ .00086 = 8.60

10 new @ .86 = 8.60

the old dinar wont see the new rate. just wanted this to be clear for people to see if this happens

Edited June 23, 2012 by sandstorm

[yota691]

It will appear that way, but thats not exactly accurate. a 10,000 old dinar will still be 10,000 old dinar it will be the old rate .00086.

And a 10 new dinar will see the rate of .86

So technically they wont come off the notes. but when looking or thinging about it, that old 10,000 will be the same as having a new 10.

The way you put it, would make it a devaluation not a neutral event.

10 old at .00086= .0086

When it will be like this

10,000 old @ .00086 = 8.60

10 new @ .86 = 8.60

the old dinar wont see the new rate. just wanted this to be clear for people to see if this happens

were the link to this theory of yours so we can all go about our business!! and then you want to plus yourself, what to plus!! geezz

Edited June 23, 2012 by yota691