Iraqi cabinet urges patience before proceeding with Iraqi Dinar redenomination

[alan_coaks_3]

7 - 5 - 2012

Iraqi Cabinet Secretariat urged, on Thursday, for more patience before cutting zeros off Iraqi dinar and proceeding with its redenomination considering that the idea of withdrawing, storing and destroying about 40 trillion dinars requires a serious study by itself.

“The government prefers to be patient before cutting zeros off Iraqi dinar and its redenomination because it is not a priority at the current stage,” Cabinet Secretary Ali Al Allak told Alsumarianews assuring that cabinet is currently studying possibilities and available circumstances for such a procedure.

“We are not sure we can control major money sums’ withdrawal under current circumstances,” Al Allak added calling to be patient because the simple thought of withdrawing, storing and destroying between 30 and 40 trillion dinars requires a serious study.

“There are no defects in our currency especially that many countries deal the same way,” he advanced. Finance committee received, on June 26, the deputy governor of Central Bank of Iraq Mazhar Mohamed Saleh to discuss about procedures related to the zeros cutting off, required time and expected changes following the dinar redenomination.

“During the meeting with Saleh, Iraqi cabinet approved cutting zeros off Iraqi dinar and its redenomination after it had resolved upon taking time before launching the procedure due to Dollar’s increase in comparison with Iraqi dinar in local markets during past months,” finance committee member Najiya Najib told Alsumarianews on July 3.

“Zeros will be cut off Iraqi dinar and the currency will be denominated in January 2013,” Finance Committee member Haitham Al Jabouri advanced on May 15 noting that printing the new currency bills will start in September 2012.

My link

[TRERUMPH]

SO WHAT DOES THIS MEAN????????????//

[jeepguy]

hahahahaha sounds like these guys read the articles on { bring 1000 dinars get 1 dinar back } and they are not real happy ,,, they want 1 too 1 ,, or even the old rate of dinar back { i m o ,,, they must be the big money players in iraq ,,, if i had billions of dinar and about too loose millions i would be a little nervious also

[jas428]

SO WHAT DOES THIS MEAN????????????//

This clearly means the current plan is to RD, although everyone who has the pipedream of becoming a millionairre overnight will disagree and call it smoke. It also clearly means that the CBI HAS NOT been withdrawing bills from the market and secretly storing them in some private back room. They are saying its going to take a massive amount of work to destroy 40 trillion dinar, and where on earth wil they have room for such a procedure. There's an explanation in the "L" section of the boards that explains how Turkey RD over the period of 2 years, both currencies co-existing, no change of rate, and the benefit of such a transaction....you all should read it - as it is absolute fact and not just someones opinion of how it went down and how Iraw, so far, has been modeling it EXACTLY.

[alan_coaks_3]

just like it sounds

[alan_coaks_3]

This equals bad for us dinar holders but good for Iraq and its economy

[SocalDinar]

40 Trillion IQD?

I Don't think so. This number is 25% higher than what we have been told many times before

Another play at numbers by CBI IMO to discourage speculators

Alan you have stated before that this would be a neutral event

Neither good nor bad. Why the hype! We should expect nothing but these types of articles.

I respect your opinion but are you waiting for an article that says

Hold onto your iqd as Iraq plans on revaluing their currency to be equal with the usd

We get it ! This is being sold as a neutral event to the people of Iraq.

Phase 2 of SHABS plan and really not meant for us IMO

[sandstorm]

SO WHAT DOES THIS MEAN????????????//

This article means lop/rd. hopefully they procrastinate for a decade, and raise the value in the meantime. We are all hoping iraq does nothing. they sure are good at that.

40 Trillion IQD?

I Don't think so. This number is 25% higher than what we have been told many times before

Another play at numbers by CBI IMO to discourage speculators

Alan you have stated before that this would be a neutral event

Neither good nor bad. Why the hype! We should expect nothing but these types of articles.

I respect your opinion but are you waiting for an article that says

Hold onto your iqd as Iraq plans on revaluing their currency to be equal with the usd

We get it ! This is being sold as a neutral event to the people of Iraq.

Phase 2 of SHABS plan and really not meant for us IMO

Your right. only the people who market and advertise the dinar industry know the real plan. Hilarious

[Realdinar]

This article means lop/rd. hopefully they procrastinate for a decade, and raise the value in the meantime. We are all hoping iraq does nothing. they sure are good at that.

Your right. only the people who market and advertise the dinar industry know the real plan. Hilarious

HILARIOUS

I have question for the fab five that argue for the lop. Please explain how iraq has to do exactly what they say. Please explain that since Iraq has been fighting hyper inflation, and since iraq will have to be exact with all their numbers and is perfectly following the lop masterplan, and how under sanctions, imf, and has to be perfect with their currency, etc.,etc....then why are they printing trillions and trillions and trillions of dinar, making it hyper inflated. I mean one of the fab fives main talking points is how iraq is printing more and more dinar, when the dinar is a supply and demand issue. loppers always say the reason the dinar is toilet paper is because of the 60 trillion. But they keep printing more and more. seems like either they are causing their own problem, or the books are cooked. In either case, we are supposed to buy or sell according to everything they say?

END HILARIOUS

[Halo9678]

Not that it matters at all BUT... I just don't see Iraq doing anything without first raising the value of the currency. The lower denoms are ready, the people have been educated, the banking system is ready despite constant refinements (and will be constantly revised REGARDLESS of whether or not the IQD does RV/RD). Sounds to me like these guys don't want the whistle to blow too soon for them. I could be wrong though...

[jas428]

Not that it matters at all BUT... I just don't see Iraq doing anything without first raising the value of the currency. The lower denoms are ready, the people have been educated, the banking system is ready despite constant refinements (and will be constantly revised REGARDLESS of whether or not the IQD does RV/RD). Sounds to me like these guys don't want the whistle to blow too soon for them. I could be wrong though...

They will raise the value....of the new notes. Old notes will remain.00086, new notes will be .86. then they can eventually raise the rate when all that exist are the new notes, they have never said that their plan was anything but this.

[Alexyn1006]

Cabinet calls for caution in the currency change and stresses the need to study it seriously

DIFFERENT TRANSLATION

seriouslyAuthor: MK Editor: BR | BS Thursday 05 July 2012 09: 55 GMT44081 http://www.alsumarianews.net/ NewsDetails The Secretary-General of the Council of Ministers on relations

The Secretary-General of the Council of Ministers on relations

Alsumaria news/Baghdad

Invited the Secretariat to Cabinet, Thursday, to wait in case the deletion of zeros from the currency change, arguing that just thinking about withdrawing some 40 trillion dinars, storage and destruction needs serious study of the subject.

Secretary General of the Council of Ministers on the relationship in an interview for "alsumaria news", that "the Government's view on the issue of deletion of zeros from the currency, change it to wait because the issue was not a priority at the moment," he said, adding that "the Council of Ministers currently considering the possibilities and conditions for such an operation".

The relationship that "we are not sure that we are able to adjust the withdrawal of big money in such circumstances," "not to rush it because just thinking about withdrawal of approximately 30-40 trillion dinars, storage and destruction needs serious study of the subject."

The relationship was "not a problem with the current currency of many countries deal this way."

The Finance Committee was hosted at (26 June), Deputy Central Bank Governor Mohammad Saleh appearance to discuss the mechanism to be followed by the Bank in the process of deleting zeros and how long this process and the variables that expose the exchanged currency.

Committee Member said in an interview for Njie Najib "alsumaria news" (3 July 2012) that "the Council of Ministers agreed during a meeting with the Governor of the Central Bank on draft delete zeros and switch the Iraqi currency after earlier decided to await a high dollar project in local markets over the past months."

As the other Member of the Committee in al-Haitham (15 may 2012) in an interview for "alsumaria news", January of next year will see the delete three zeros 2013 and Exchange, in 2012, will next month begin printing the new currency in various categories.

The Central Bank was accused (12 September 2011), Government of obstructing the monetary reform and vowed to prosecute, blaming those responsible for endangering the financial interests of the country at risk.

As aide to the Prime Minister on Economic Affairs (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if during this period, under the title economic absurdity, warning of "Division" is preparing to falsify trillion Iraqi dinars to replace them in the light of the forthcoming changes.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.alsumarianews.net%2Far%2F3%2F44081%2Fnews-details-.html

[2fast4u2c]

JAS: Did Turkey close the borders? I thought they did.

[sandstorm]

HILARIOUS

I have question for the fab five that argue for the lop. Please explain how iraq has to do exactly what they say. Please explain that since Iraq has been fighting hyper inflation, and since iraq will have to be exact with all their numbers and is perfectly following the lop masterplan, and how under sanctions, imf, and has to be perfect with their currency, etc.,etc....then why are they printing trillions and trillions and trillions of dinar, making it hyper inflated. I mean one of the fab fives main talking points is how iraq is printing more and more dinar, when the dinar is a supply and demand issue. loppers always say the reason the dinar is toilet paper is because of the 60 trillion. But they keep printing more and more. seems like either they are causing their own problem, or the books are cooked. In either case, we are supposed to buy or sell according to everything they say?

END HILARIOUS

Well, you should only buy and sell based off your own conclusions. a lop masterplan??? No, its a liability and monetary plan. bottom line, iraq wants to be around a dollar because oil is sold in dollars and is more helpful to the monetary policy. so what does the cbi do about their liability issue of 60 trillion. do they pay out 60 trillion dollars, or generations of oil production, or do they use the common, neutral approach which is a rd, that only costs the 150 million, as they keep their oil to sell at over a 100 dollars a barrel.

if you ran a business and were forced to either pay 150 million or 60 trillion, what would you do??

[jackster]

40 Trillion IQD?

I Don't think so. This number is 25% higher than what we have been told many times before

Another play at numbers by CBI IMO to discourage speculators

Alan you have stated before that this would be a neutral event

Neither good nor bad. Why the hype! We should expect nothing but these types of articles.

I respect your opinion but are you waiting for an article that says

Hold onto your iqd as Iraq plans on revaluing their currency to be equal with the usd

We get it ! This is being sold as a neutral event to the people of Iraq.

Phase 2 of SHABS plan and really not meant for us IMO

If they are trying to discourage speculators, then it must mean there IS going to be an RV. The RV must then happen before any removal of zeros.

They're trying to keep speculators from buying more IQD. The RV is right around the corner. Guru after guru has been calling for an RV before the end of the year.

If speculators are being discouraged from buying more IQD, then they must know something. They have insider info. Speculators should then go against the flow and purchase more IQD. Buy 10 million IQD quickly and by the end of the year we'll have $10 million on top of millions we currently hold.

[wpsmit]

DIFFERENT TRANSLATION

We the Iraqi PTB put out almost as much BS daily as the GURUS do!

[rockfl9]

Jackster::I hope we can agree that the "gurus" do not know anything .. They are just better at getting some to think they do. I'll admit before I found DV I was taken by a few.. WOW ,3AM phone calls (to be on Iraqi time). On-line interviews with Muhamad, ALI ,Mustafa etc. Secret "intel" , cant divulge the source , but It's high up..Yadda,Yadda. Now you say there's a scheeme to fudge the numbers to discourage buyers because the RV is right around the corner????.. .Hey ,yeah that must be the reason, last chance to get onboard..Sounds logical... Newbie bait.

Edited July 6, 2012 by rockfl9

[Realdinar]

Jackster::I hope we can agree that the "gurus" do not know anything .. They are just better at getting some to think they do. I'll admit before I found DV I was taken by a few.. WOW ,3AM phone calls (to be on Iraqi time). On-line interviews with Muhamad, ALI ,Mustafa etc. Secret "intel" , cant divulge the source , but It's high up..Yadda,Yadda. Now you say there's a scheeme to fudge the numbers to discourage buyers because the RV is right around the corner????.. .Hey ,yeah that must be the reason, last chance to get onboard..Sounds logical... Newbie bait.

Im sorry to hear you were tricked by the gurus. Ummm, in the future stop listening to pyramid schemes. That would be good advice for the whole fab five. Just tryin to help.

[SocalDinar]

Jackster::I hope we can agree that the "gurus" do not know anything .. They are just better at getting some to think they do. I'll admit before I found DV I was taken by a few.. WOW ,3AM phone calls (to be on Iraqi time). On-line interviews with Muhamad, ALI ,Mustafa etc. Secret "intel" , cant divulge the source , but It's high up..Yadda,Yadda. Now you say there's a scheeme to fudge the numbers to discourage buyers because the RV is right around the corner????.. .Hey ,yeah that must be the reason, last chance to get onboard..Sounds logical... Newbie bait.

Pretty sure that was sarcasm from Jackster responding to my post.

[jackster]

Im sorry to hear you were tricked by the gurus. Ummm, in the future stop listening to pyramid schemes. That would be good advice for the whole fab five. Just tryin to help.

No, you weren't.

[zigmeister]

This article is very clear as to CBI's intention, re domination. However the good news is, they have not sold some people on the whole idea. Something seems to be brewing. Maybe their are shaking the tree....ya never know with Iraq.

[Sanssouci]

This clearly means the current plan is to RD, although everyone who has the pipedream of becoming a millionairre overnight will disagree and call it smoke. It also clearly means that the CBI HAS NOT been withdrawing bills from the market and secretly storing them in some private back room. They are saying its going to take a massive amount of work to destroy 40 trillion dinar, and where on earth wil they have room for such a procedure. There's an explanation in the "L" section of the boards that explains how Turkey RD over the period of 2 years, both currencies co-existing, no change of rate, and the benefit of such a transaction....you all should read it - as it is absolute fact and not just someones opinion of how it went down and how Iraw, so far, has been modeling it EXACTLY.

These media tools are EVERYWHERE!

Your right. only the people who market and advertise the dinar industry know the real plan. Hilarious

No, you're right. Only the people who suck up to the CBI's propaganda know the real plan. Doubly hilarious.

HILARIOUS

I have question for the fab five that argue for the lop. Please explain how iraq has to do exactly what they say. Please explain that since Iraq has been fighting hyper inflation, and since iraq will have to be exact with all their numbers and is perfectly following the lop masterplan, and how under sanctions, imf, and has to be perfect with their currency, etc.,etc....then why are they printing trillions and trillions and trillions of dinar, making it hyper inflated. I mean one of the fab fives main talking points is how iraq is printing more and more dinar, when the dinar is a supply and demand issue. loppers always say the reason the dinar is toilet paper is because of the 60 trillion. But they keep printing more and more. seems like either they are causing their own problem, or the books are cooked. In either case, we are supposed to buy or sell according to everything they say?

END HILARIOUS

Precisely. The fab five are painfully aware that their slavishness to CBI propaganda is their Achilles heel.

If they are trying to discourage speculators, then it must mean there IS going to be an RV. The RV must then happen before any removal of zeros.

They're trying to keep speculators from buying more IQD. The RV is right around the corner. Guru after guru has been calling for an RV before the end of the year.

If speculators are being discouraged from buying more IQD, then they must know something. They have insider info. Speculators should then go against the flow and purchase more IQD. Buy 10 million IQD quickly and by the end of the year we'll have $10 million on top of millions we currently hold.

No one is forcing you to buy or sell. But if this is your attitude, I would suggest you sell.

Edited July 6, 2012 by Sanssouci

[alan_coaks_3]

people that refute to believe an Redenomination can happen to iraq needs to get a grip on reality

[Sanssouci]

people that refute to believe an Redenomination can happen to iraq needs to get a grip on reality

People who believe the media never lies need to get a grip on reality.

[alan_coaks_3]

People who believe the media never lies need to get a grip on reality.

lol