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Central Bank: we have from the reserve currency, so as to cover the process of deleting the zeros


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Central Bank: we have from the reserve currency, so as to cover the process of deleting the zeros

Baghdad / justice - 23/07/2012 - 2:05 | Hits: 92

Said Central Bank Governor Sinan Shabibi for the selection of a British company and the other a German for the printing of the new process to delete the zeros after it.

The Shabibi during a meeting with members of the Finance Committee, the parliamentary according to a statement of the Commission that the central bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency being the Ttavan about 75% of the currencies in the world. He noted that the central bank has reserves of the coin so that they can in the process of deletion of zeros and coverage significantly. He Shabibi the main reason in the process of deleting the zeros due to the economic stability experienced by the country and the ability of the large cash with the Central Bank.

and on the currency auction between Shabibi the operation as a window to enter the foreign currency and raise the value of the dinar Iraq. The parliamentary delegation included Deputy Hussain Yasiri, and MP Ibrahim al-Mutlaq, MP Magda al-Tamimi. During the meeting, they discussed the latest developments reached by the Central Bank in the subject to delete the zeros and replacing the national currency and the policy of the completion of this process. The meeting discussed the issue of controls adopted in the auction currency and the volume of the money supply

http://www.aladalanews.net/index.php?show=news&action=article&id=100192

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Quote:

He noted that the central bank has reserves of the coin so that they can in the process of deletion of zeros and coverage significantly.

Unquote

So once again we see Shabibi talking about coins -- fils? Now why would they need fils if they're going to Lop? I can't see it.

Go RV!

Thanks k98! You're the best (after Adam and Sara, anyway. :D )

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looks to me like dr.shabbs cant wait for the new currency to be printed before he moves, hence they have enough coins to cover it.

this imo, is the best article we have received in all the years that i have held my dinar.

shabbs seems to finally have a major sense of urgency....

i know the heavy loppers will come out and scream lop to this article, but it isn't a lop article. imo

I think your assesment is right on. There have been articles of late describing Shabs rush to get this done. They referenced a plan to use the small coins.

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He noted that the central bank has reserves of the coin so that they can in the process of deletion of zeros and coverage significantly.

What I get is as they're pulling the large notes out of the market and the market is almost out of large paper notes, they'll introduce the coins, but wait what can they buy with a 1, 5 or 10 dinar coin, see where I'm going, yes they'll have to increase the value of the dinar or they'll need a truck load of coins to buy a loaf of bread, thanks for the post K98.

Edited by TonyDownTheShore
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Sort of a bad translation the "coin" is general term for currency.. I think means the CBI will have enough in stock to proceed to 1/1/2013 conversion..

Definition of currency from www.investopedia.com:

A generally accepted form of money, including coins and paper notes, which is issued by a government and circulated within an economy. Used as a medium of exchange for goods and services, currency is the basis for trade.

I like the "coin" theory very much and hope it is true, but here is another article that states currency is in reserve:

Central Bank Governor receives a delegation of the Finance Committee Sunday July 22, 2012

I keep Dr. Shabibi central bank governor on Tuesday, 17/7/2012 Sub-Committee which includes members of the Finance Committee (Attorney Yasiri Hussain, MP Ibrahim al-Mutlaq, MP Magda al-Tamimi) in the building of the Iraqi Central Bank in Baghdad and in the presence Addinm officials in the bank. During the meeting, they discussed the latest developments reached by the Central Bank in the subject to delete the zeros and replacing the national currency and the policy of the completion of this process. The meeting also discussed the issue of controls adopted in the auction currency and the volume of money supply in circulation. For his part, said that the main reason Shabibi in the process of deleting the zeros due to the economic stability experienced by the country and large cash capacity in the Central Bank, and on the currency auction Shabibi between the operation as a window to enter the foreign currency and raise the value of Iraqi dinar.

He stressed that the central bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency being the Ttavan about 75% of the currencies in the world. He pointed out that the central bank has reserves of the currency so that they can in the process of deletion of zeros and coverage significantly.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.parliament.iq/Iraqi_Council_of_Representatives.php%3Fname%3Darticles_ajsdyawqwqdjasdba46s7a98das6dasda7das4da6sd8asdsawewqeqw465e4qweq4wq6e4qw8eqwe4qw6eqwe4sadkj%26file%3Dshowdetails%26sid%3D7423&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbs%3Dqdr:d%26prmd%3Dimvns&sa=X&ei=sqkMUI31FonXrAHXs5C9Cg&ved=0CGUQ7gEwAA

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De La Rue Company Prints the New Iraqi Dinar Once again :lol:

They have also decided to have Giesecke and Devrient, a well-known German company print there New Iraqi Dinar also.

Sort of a bad translation the "coin" is general term for currency.. I think means the CBI will have enough in stock to proceed to 1/1/2013 conversion..

Yes I believe your right I've seen them use coin in reference to currency many times good Job!! B)

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He noted that the central bank has reserves of the coin so that they can in the process of deletion of zeros and coverage significantly.

What I get is as they're pulling the large notes out of the market and the market is almost out of large paper notes, they'll introduce the coins, but wait what can they buy with a 1, 5 or 10 dinar coin, see where I'm going, yes they'll have to increase the value of the dinar or they'll need a truck load of coins to buy a loaf of bread, thanks for the post K98.

TONY

I agree for the most part, but correct me if I'm wrong - they can LOP, then the dinar equals a dollar, then RV a bit to say $2.00, then the coins are used for under a dollar. I am not sure how coins PROVE that there will be no LOP.

Please, I am with you guys - but answer this...

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TONY

I agree for the most part, but correct me if I'm wrong - they can LOP, then the dinar equals a dollar, then RV a bit to say $2.00, then the coins are used for under a dollar. I am not sure how coins PROVE that there will be no LOP.

Please, I am with you guys - but answer this...

You just described how it will happen exactly. The coins are to make change for the new currency. I'm not sure how this doesn't describe an RV, just as every other RD has ever taken place. They remove zeros, introduce new notes, have two existing currencies/two exchange rates for a year or two, then they can raise the value of the new currency. No, I'm not a "lopster", I'm an educated and experienced economics professional/forex trader/currency trader/sat on several banking boards, you name it. So please don't challenge my opinion. If you don't agree with it I respect that, so please respect the "professional" take on this matter.

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TONY

I agree for the most part, but correct me if I'm wrong - they can LOP, then the dinar equals a dollar, then RV a bit to say $2.00, then the coins are used for under a dollar. I am not sure how coins PROVE that there will be no LOP.

Please, I am with you guys - but answer this...

Hame55, neither me or anybody else in any forum in the world know how this is going to play out, I give my thoughts on it but it's just speculation, it doesn't matter who's saying what, the truth is nobody knows, anything can happen, a lop is not out of the question as is rv, rd or ri, so that's my answer, nobody really knows, and hopefully the answer is coming "soon", take care. :)

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looks to me like dr.shabbs cant wait for the new currency to be printed before he moves, hence they have enough coins to cover it.

this imo, is the best article we have received in all the years that i have held my dinar.

shabbs seems to finally have a major sense of urgency....

i know the heavy loppers will come out and scream lop to this article, but it isn't a lop article. imo

Nicely said. :tiphat:

Leggo RV! :twothumbs:

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Tony:::: No evidence that they are purposly "pulling" any paper currency from the street.. In fact because the 10 and 25K being held by "investors" are out of circulation may have made it necessary CBI to release more of them.

Hame55 :: Tony's :"coin logic" , given the above doesnt proove or disproove anything.

.

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Tony:::: No evidence that they are purposly "pulling" any paper currency from the street.. In fact because the 10 and 25K being held by "investors" are out of circulation may have made it necessary CBI to release more of them.

Hame55 :: Tony's :"coin logic" , given the above doesnt proove or disproove anything.

.

I agree there's no evidence they're pulling currency off the market, but there's no evidence they're not.

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Again I would say; If you don't believe that the CBI will or has pulled currency out of circulation. You need to GET OUT !!! of this investment.

Why is that?? You think people should get out if they dont believe they have pulled any currency from circulation?? Thats a pretty bold statement.......

Should they also get out if they dont think this is the plan to pay off all the USD debt?

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Why is that?? You think people should get out if they dont believe they have pulled any currency from circulation?? Thats a pretty bold statement.......

Should they also get out if they dont think this is the plan to pay off all the USD debt?

I guess this is another time where you will get attacked cause you wanna call out a member cause they make a statement that you don't like.....wahhhhhh wahhhh baby boy....you should get out cause you are who you are....and thats someone who is scarred by the gurus and tired of being wrong from your days of calling for an RV.....

Adam said it best yesterday......if you think people are loosers cause they believe what you can't then you are twice the looser.....

again you should get out just cause you are you and for no other reason.....your job of keeping everyone grounded.....whatever that means is over. Get lost already or stay on topic instead of trying to pick a fight everyday

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Agree. The decision and personal choice to invest in the Dinar is exactly that-it's personal. No matter what Keep posts on here it doesn't diminish my 100% rock-solid belief that at some point in the near future this currency will give many of us the financial independence we all desire. This WILL happen as sure as the sun comes up on a daily basis-the timing isn't clear but trust your instincts. If you can't hack the ups and downs and filter out the garbage (both positive and negative) then this isn't the investment for you.

I

You know the solution to all this madness? Every one of us should go to a psychic and then report back on our findings :) Maybe collectively we'll get the knowledge we all seek.

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Why is that?? You think people should get out if they dont believe they have pulled any currency from circulation?? Thats a pretty bold statement.......

Should they also get out if they dont think this is the plan to pay off all the USD debt?

If Iraq has not removed any money from circulation we are not making large sums of profit, ie. millions of dollars, like everyone talks about. If you are also in this investment and you are still holding dinar and you think your only going to make a couple hundred bucks off of the RV then you need to get out because that is foolish investing with your time and money. You could have sold a used car by now and made a couple hundred bucks. Come on people. We may not make millions but i have not been in this for working on two years for a couple hundred bucks.

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If Iraq has not removed any money from circulation we are not making large sums of profit, ie. millions of dollars, like everyone talks about. If you are also in this investment and you are still holding dinar and you think your only going to make a couple hundred bucks off of the RV then you need to get out because that is foolish investing with your time and money. You could have sold a used car by now and made a couple hundred bucks. Come on people. We may not make millions but i have not been in this for working on two years for a couple hundred bucks.

I think everyone here wants to make more then just a few hundred bucks.....

I guess this is another time where you will get attacked cause you wanna call out a member cause they make a statement that you don't like.....wahhhhhh wahhhh baby boy....you should get out cause you are who you are....and thats someone who is scarred by the gurus and tired of being wrong from your days of calling for an RV.....

Adam said it best yesterday......if you think people are loosers cause they believe what you can't then you are twice the looser.....

again you should get out just cause you are you and for no other reason.....your job of keeping everyone grounded.....whatever that means is over. Get lost already or stay on topic instead of trying to pick a fight everyday

Wow you really got upset about that! laugh.gif Why is it whenever I ask SOMEONE ELSE their opinion, you get offended?? You have got to get over me.....its just never gonna work out between us ok? It will be hard, but I know you will be ok.....

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I think everyone here wants to make more then just a few hundred bucks.....

YEP baby needs a new pair of AIR JORDANS!laugh.gif

Wow you really got upset about that! laugh.gif Why is it whenever I ask SOMEONE ELSE their opinion, you get offended?? You have got to get over me.....its just never gonna work out between us ok? It will be hard, but I know you will be ok.....

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