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Central Bank: currency exchange will reduce the risk of errors accounting system

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Central Bank: currency exchange will reduce the risk of errors accounting system

15/07/2012

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BAGHDAD / JD / .. Central Bank of Iraq confirmed that the process of printing a new currency with the deletion of three zeros will cost the state less money sad re-sustain damage because of the current currency and economic expansion, noting that the new edition will reduce the risk of errors accounting system. The deputy governor of the Central Bank of Iraq the appearance of Mohammed Saleh told / JD / that "printing the new currency would cost the state large sums of money but the fact that the current currency and because of the high value and liquidity will cost the state more simply by typing denominations themselves of the same coin because of the damage and the expansion of the economy." "The cost of the current more because when replacement will be the categories of large Vtakhtsr Cache We have now 4 billion securities traded out of 34 Tleraon amount of cash if exported large groups 50 dinars and 100 dinars and 200 dinars, equivalent to 200 thousand dinars, the 4 billion banknotes and shorten billion of which to one billion and a half billion of these banknotes Falclfah be relatively less at the same time shortened (Cache) Cash too ".. He added that "there is also a shortcut numbers The country is dealing with (10 S-12) a trillion, but when replacement deletion of the country will deal with 10 S-9, and this is a big difference, explaining that the switch will reduce the risk of currency accounting system errors. / Finished / http://www.dananernews.com/News_Details.php?ID=1261

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GM and thanks Yota

This is exactly why the CBI will never introduce 50 K and 100 K notes.

To many error messages on people calculators, Just not an option IMO.

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GM and thanks Yota

This is exactly why the CBI will never introduce 50 K and 100 K notes.

To many error messages on people calculators, Just not an option IMO.

It sounds like that article is describing a LOP to me. If they do LOP, the currency will drop in value because of all the Dinar holders dumping them. It will cost them immensley.

I've always thought they would probably lop. But just in case they want to get rich and share some of the wealth with the investors. I have quite a stash. I'm sure they have trouble with sharing as they can't even share power.

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It sounds like that article is describing a LOP to me. If they do LOP, the currency will drop in value because of all the Dinar holders dumping them. It will cost them immensley.

I've always thought they would probably lop. But just in case they want to get rich and share some of the wealth with the investors. I have quite a stash. I'm sure they have trouble with sharing as they can't even share power.

your statement goes against all the article's for the better of Iraqi people, more purchasing power!! JMO but all u Lopper's should sell an move on, but but, but.....

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It sounds like that article is describing a LOP to me. If they do LOP, the currency will drop in value because of all the Dinar holders dumping them. It will cost them immensley.

I've always thought they would probably lop. But just in case they want to get rich and share some of the wealth with the investors. I have quite a stash. I'm sure they have trouble with sharing as they can't even share power.

Can you help me understand. If they LOP, how does that decrease the value of the dinar. It seems that the buying power would increase.

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these currenct dinars will be dumped with or without a rv ... they are about to lose their demand .. no one will want them .. they will put up with them .. but only on their way out .. .. demand causes an increase in value ... it wont be long before theres no demand ..

demand will be for the new dinars ..that are worth 1000 times more

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it says it all in the text of the article : the zero type notes will make it easier too do the calculations,,, or ,,, too make change with ,,, can you brake a 25,ooo note for me ,,, i would like 20`s and 10`s lol ---- this is what is more plausible in my thinking ,,, lets just put it this way ------- set the r.v. rate at 1.50 send out the lower notes and let -us off this merry go round too hell

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Can you help me understand. If they LOP, how does that decrease the value of the dinar. It seems that the buying power would increase.

Because Dinar investors will have no reason to hold on to the Dinar. They'll want to buy something with the money or invest it in something that will make money. Instead of having it locked up in something that will have no hope of making any significant money.

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Because Dinar investors will have no reason to hold on to the Dinar. They'll want to buy something with the money or invest it in something that will make money. Instead of having it locked up in something that will have no hope of making any significant money.

Doctor Smith. As you can see, I don't post that often and try to observe. I do have a question, and you obviously you don't have to answer. I am mainly just curious. It appears that you believe in the LOP and that our gains will be minimal if any. Why post on a site that appears pro-RV? Are you trying to educate the forum, convince users of your point or jurife. Again, I am mainly curious as to your reasoning which you can share or not. A good debate does have a place, but debating should be mutual. In other words, the Pro-RV-ers would want to engage in a debate which they don't appear to want. This is just my impression from observing what goes on here. Thanks for taking time to read this.

Doctor Smith. As you can see, I don't post that often and try to observe. I do have a question, and you obviously you don't have to answer. I am mainly just curious. It appears that you believe in the LOP and that our gains will be minimal if any. Why post on a site that appears pro-RV? Are you trying to educate the forum, convince users of your point or jurife. Again, I am mainly curious as to your reasoning which you can share or not. A good debate does have a place, but debating should be mutual. In other words, the Pro-RV-ers would want to engage in a debate which they don't appear to want. This is just my impression from observing what goes on here. Thanks for taking time to read this.

Never mind - Doctor Smith. I see up above that you are holding out just in case. :) I missed that one. Disregard my question. I think you answered it above.

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these currenct dinars will be dumped with or without a rv ... they are about to lose their demand .. no one will want them .. they will put up with them .. but only on their way out .. .. demand causes an increase in value ... it wont be long before theres no demand ..

demand will be for the new dinars ..that are worth 1000 times more

Their currency will be worth a lot more money and they will be able to buy anything they want.

If they come out at a lower rate than what it will eventually reach, they can make money on it reaches the eventual level. Some will hang on to it and wait for it to increase. And even if everyone outside of Iraq trades it in right away it won't matter. Whoever trades it in will make more money as it goes up further.

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Because Dinar investors will have no reason to hold on to the Dinar. They'll want to buy something with the money or invest it in something that will make money. Instead of having it locked up in something that will have no hope of making any significant money.

Thanks for your opinion doc

Can you explain how Iraq can reduce the money supply and still have the same rate?

I am not that savy with economics but if the amount of currency decreases shouldn't the rate reflect this?

Why would they reduce the money supply now if their true goal is to redenominate without an increase in value?

The CBI has said they want to de dollarize but yet they put 293 million in circulation today?

Can someone explain why?

Go SHABS

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There is an old logic game .. It goes like this:

If you went to sleep . and when you woke up everything (including you) was 1000 times bigger ---- would you know that it happened?

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There is an old logic game .. It goes like this:

If you went to sleep . and when you woke up everything (including you) was 1000 times bigger ---- would you know that it happened?

Well,

I guess you could say that the Iraqi people might know what it was like to wake up and have 1000 times less what they used too. Well, maybe not overnight, but in a very short time. :D

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Thanks for your opinion doc

Can you explain how Iraq can reduce the money supply and still have the same rate?

I am not that savy with economics but if the amount of currency decreases shouldn't the rate reflect this?

Why would they reduce the money supply now if their true goal is to redenominate without an increase in value?

The CBI has said they want to de dollarize but yet they put 293 million in circulation today?

Can someone explain why?

Go SHABS

If they ignore the zero's on the old notes and move the decimal to the left 3 places from .00086 to .86 (lop). It all comes down to whether or not the zero's on the old notes will be honored or not.

I think the rate will go out of control and may plummet if they choose to lop. You're not increasing buying power and confidence is lost in the currency. Part of the reason it hasn't collapsed so far is the fact that many speculators are buying it.

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They are throwing out a lot of banking/economic-specific terms. S-12, S-9? Does anyone know what this stuff means in context of central banking and money supply? It seems like they are saying 4 billion bank notes = 34 trillion dinar. If they want 1.5 billion bank notes, they want 10 trillion dinar (of value). That's not the huge LOP everyone is afraid of, nor is it the overnight 100,000% appreciation of the currency. What games are they playing over there? Talking about changing the accounting accuracy and error-analysis from an S-12 level (i'm assuming this is very bad) to an S-9 level (better, but still not great?). Gaaahhh... we need an American Shabibi who can help us understand this stuff.

EDIT: Upon close inspection, there are 9 zeroes in the hundred millions place, and 12 zeroes in the hundred billions place. 10 hundred billions is a trillion, and 10 hundred millions is a billion. That's the deletion of 3 zeroes...

Edited by TQueezy

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After the RD Iraqi's will be OK...BUT the CBI would be Happy IF NONE of these dinar come back!!! Think about that! Found dinar!

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If they ignore the zero's on the old notes and move the decimal to the left 3 places from .00086 to .86 (lop). It all comes down to whether or not the zero's on the old notes will be honored or not.

I think the rate will go out of control and may plummet if they choose to lop. You're not increasing buying power and confidence is lost in the currency. Part of the reason it hasn't collapsed so far is the fact that many speculators are buying it.

they will honor the 0s on the old notes but they will exchange at a rate of 1000 to 1 most likely so ur 25k will be 25 now

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they will honor the 0s on the old notes but they will exchange at a rate of 1000 to 1 most likely so ur 25k will be 25 now

Wow! Here we go again!!!! More opinions stated as absolute fact!! Nothing more to learn in this topic. See Ya!!!!! :blink:

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Wow! Here we go again!!!! More opinions stated as absolute fact!! Nothing more to learn in this topic. See Ya!!!!! :blink:

The authorities may alleviate this problem by redenomination: a new unit replaces the old unit with a fixed number of old units being converted to 1 new unit. If inflation is the reason for redenomination, this ratio is much larger than 1, usually a positive integral power of 10 like 100, 1000 or 1 million, and the procedure can be referred to as "cutting zeroes"

Actually if you do some research about Removing zeros or RD they will exchange the old notes at a rate of integral power of 10 like 100, 1000 or 1 million. not my opinion its fact

if you look at all the other currency this happen to they honord all the notes with the zeros but they were like 1000 or million per 1 new note

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The authorities may alleviate this problem by redenomination: a new unit replaces the old unit with a fixed number of old units being converted to 1 new unit. If inflation is the reason for redenomination, this ratio is much larger than 1, usually a positive integral power of 10 like 100, 1000 or 1 million, and the procedure can be referred to as "cutting zeroes"

Actually if you do some research about Removing zeros or RD they will exchange the old notes at a rate of integral power of 10 like 100, 1000 or 1 million. not my opinion its fact

if you look at all the other currency this happen to they honord all the notes with the zeros but they were like 1000 or million per 1 new note

Like I said, nothing new to learn. You go on and cut and paste whatever you need, to confirm to yourself, this hopeless outcome. I don't need any lessons from you or lectures about research to confirm my beliefs nor do I speak in absolutes. BTW, don't be so sensitive just because someone doesn't see the outcome as you. Its hard to consider the source on many of these articles, much less the content. Good luck to you!!! See you at the finish line!!! GTG!

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Please dont beat me up, I think alot of people are wondering the same thing, are they taking the zero's off the bill or the value.

When Mexico Lopped, they took the zero's off the face value of the peso bill/coin. 1000 peso's became 1 peso. (They moved the decimal place to the left not to the right) So, the if the Iraq dinar lopped then the 1166 would now be 1.166 dinar if they did it in the same way, but of course they dont have a 1166 bill so they would have to change the value first from 1166 down to 1000 then take the zeros off. Is this plausible.

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The authorities may alleviate this problem by redenomination: a new unit replaces the old unit with a fixed number of old units being converted to 1 new unit. If inflation is the reason for redenomination, this ratio is much larger than 1, usually a positive integral power of 10 like 100, 1000 or 1 million, and the procedure can be referred to as "cutting zeroes"

Actually if you do some research about Removing zeros or RD they will exchange the old notes at a rate of integral power of 10 like 100, 1000 or 1 million. not my opinion its fact

if you look at all the other currency this happen to they honord all the notes with the zeros but they were like 1000 or million per 1 new note

Sorry A/C/3,

I have a problem wrapping my head around your facts(theory). What your suggesting will wipe out retirement acounts as well as screw up stock holdings. Can you explain how your presentation would preserve Iraqi's and investors hard earned individual Dinars? Thanks....

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