Central Bank: the project to delete the zeros "ink on paper"

[yota691]

Central Bank: the project to delete the zeros "ink on paper"

Topic has been read 16 times

Author: the future of Iraq

24.07.2012 0:00

BAGHDAD / Future of Iraq

The Central Bank of the subject of printing the currency of the country of sensitive topics and talk about this to be premature, pointing out that "the draft process to delete the zeros is ink on paper so far." said Deputy Governor of the Bank of the appearance of Mohammed "received numerous requests to the bank Central of dozens of companies competent to print the new currency has to be agreed with any company so far as to approve the deletion of zeros has not yet made, "explaining that" the currency currently in circulation has inherently a British company, and not necessarily that the same company to print the new currency, "denying that "to be signed with any company for printing the new currency." The Central Bank Governor Sinan Shabibi announced that the Bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency. Shabibi said in a meeting with the Finance Committee House of Representatives 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 of countries in the world, "noting that" the central bank has reserves of the currency so as to enable the process to delete the zeros and coverage significantly. " The Information Office of the House of Representatives in a press statement that "the Finance Committee, the parliamentary discussed with Shabibi 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," explaining that "the meeting discuss the issue of controls adopted in the auction currency and the volume of the money supply. "

Shabibi stressed that "the main reason for the process to delete the zeros due to the economic stability experienced by the country and large cash capacity in the Central Bank." And on the currency auction that "the process is a window to enter the foreign currency and raise the value of the dinar." http://www.almustakbalpaper.net/ArticleShow.aspx?ID=25510

[Shelley]

Go ahead Shabibi raise that value !!!!! Shabibi do be do :D

Thanks Yota I can handle a feel good article.

[JWJW11]

Wow the deletion of the zeros and currency auctions talked about in the same sentence......still a question on what deletion of the zeros actually means?

Hi Shelley

[R Veyron]

Foreward Ho !!

[Shelley]

Wow the deletion of the zeros and currency auctions talked about in the same sentence......still a question on what deletion of the zeros actually means?

Hi Shelley

Hey JW, are you singing Shabibi do be do with me ???

[JWJW11]

Hey JW, are you singing Shabibi do be do with me ???

I am

[JayLee202]

Posted: July 24, 2012 in Iraqi Dinar/Politics

Tags: bank, Central bank, Currency, Deputy Governor, Finance Committee, London, printing, Sinan Al-Shabibi

24.07.2012 0:00

The Central Bank of the subject of printing the currency of the country of sensitive topics and talk about this to be premature, pointing out that “the draft process to delete the zeros is ink on paper so far.”

said Deputy Governor of the Bank of the appearance of Mohammed “received numerous requests to the bank Central of dozens of companies competent to print the new currency has to be agreed with any company so far as to approve the deletion of zeros has not yet made, “explaining that” the currency currently in circulation has inherently a British company, and not necessarily that the same company to print the new currency, “denying that “to be signed with any company for printing the new currency.”

The Central Bank Governor Sinan Shabibi announced that the Bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency.

Shabibi said in a meeting with the Finance Committee House of Representatives 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 of countries in the world, “noting that” the central bank has reserves of the currency so as to enable the process to delete the zeros and coverage significantly.”

The Information Office of the House of Representatives in a press statement that “the Finance Committee, the parliamentary discussed with Shabibi 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,” explaining that “the meeting discuss the issue of controls adopted in the auction currency and the volume of the money supply.”

Shabibi stressed that “the main reason for the process to delete the zeros due to the economic stability experienced by the country and large cash capacity in the Central Bank.” And on the currency auction that “the process is a window to enter the foreign currency and raise the value of the dinar.”

Link

[capt.cliff]

Why buy delure's if they were.t going to print the new currency also?

[JayLee202]

The Currency we hold will exist for 2 years before actually given back to CBI. But I think the US will hold the currency in the Foriegn Currency Reserve to buy oil instead of using USD.

[SocalDinar]

Thanks Jay Lee

I know i read into this stuff to much but I like this line which is a quote from Shabs!

" to complete the process of printing the new currency."

[TheArtistFormallyKnownAs]

" to complete the process of printing the new currency."

I hear ya ,he didn't say to start the process.

[Carrello]

Why buy delure's if they were.t going to print the new currency also?

Because the 10 machines purchased from DLR are not printers, but counters +.

[JayLee202]

" to complete the process of printing the new currency."

I hear ya ,he didn't say to start the process.

Correct, but he did say that the new currency is to surface 1/1/2013. In this case, it would make sense to RV months before the new currency which will give the people in Iraq ample time for their exchange in currency getting the USD off the street. What's your thoughts on this?

[TheArtistFormallyKnownAs]

Correct, but he did say that the new currency is to surface 1/1/2013. In this case, it would make sense to RV months before the new currency which will give the people in Iraq ample time for their exchange in currency getting the USD off the street. What's your thoughts on this?

They can't RV months before the new currency ,they would be paying 50 Dinar = 50 Dollar for a loaf of bread. RV and new Cerrency at the same time.

[cheevo]

They are dollarized over there artist....plenty of 1 dollar bills over there.....we see it in the auctions cbi has...dinars for dollars if im not mistaken..

[JayLee202]

They can't RV months before the new currency ,they would be paying 50 Dinar = 50 Dollar for a loaf of bread. RV and new Cerrency at the same time.

At the same time? Wow! Hey, you could be right.

[Captjohn]

Because the 10 machines purchased from DLR are not printers, but counters +.

Better yet, De La Rue machines count, scan, and authenticate IQD.

[Carrello]

Better yet, De La Rue machines count, scan, and authenticate IQD.

I am getting lazy. That is what I meant with the count +. They also bundle too. There, I did it.

[Carrello]

" to complete the process of printing the new currency."

I hear ya ,he didn't say to start the process.

Many speculate that the lower denominations, 50, 250, 1000, that were printed in 2003, will be released and utilized. Several articles indicated this last week. I am a firm believer in this one. They definitely have put an emphisis on two currencies coinciding for a period of two years, and the life of a note is less than two years, so the lds without the Kuridish language (2003 notes) could readily be changed out for the newly printed lds. Maybe they are using one foreign company to print the higher denominations and a second company to print the lower denominations at a later time and when needed.

Just thinkin'.......

[JWJW11]

The process has started.....i love seeing the deletion of zeros and the auctions talked about in the sentence

[easyrider]

they already have the notes they will be issuing sometime in last quarter of 2012 then 2013 they will be issuing out the remaining currency.

[JayLee202]

they already have the notes they will be issuing sometime in last quarter of 2012 then 2013 they will be issuing out the remaining currency.

I was thinking they would need to RV before doing this but if doing the RV and issuing the new currency at the same time works then I'm not complaining

[jeepguy]

The Currency we hold will exist for 2 years before actually given back to CBI. But I think the US will hold the currency in the Foriegn Currency Reserve to buy oil instead of using USD.

this is what i have heard !!! dinar for oil ,,, if this is the case hope they will insure that a federal reseve banking institution will handle the dinar ,, and not have a super crazy handleing fee ??

they already have the notes they will be issuing sometime in last quarter of 2012 then 2013 they will be issuing out the remaining currency.

hoping they will put this whole thing into play,, with these notes your talking about,, ohhhh like in 3 months

[fastarnie]

hoping they will put this whole thing into play,, with these notes your talking about,, ohhhh like in 3 months

I can clear my calendar for tomorrow. :lol:

[TFK]

They are dollarized over there artist....plenty of 1 dollar bills over there.....we see it in the auctions cbi has...dinars for dollars if im not mistaken..

Yes, there are plenty of US dollars in Iraq. They are paid in US dollars for the 5 million barrels of oil they export each day. I think I read they took in $100,000,000,000 last year alone, and that was before the extra output started from the new offshore loading areas. The oil output is set the double and triple over the next 7-10 years.

Yes, Iraq is literally drowning in beautiful US dollars!