Zeros cannot be removed from Iraqi dinars during 2013, says Iraqi Finance Ministry

[yota691]

Zeros cannot be removed from Iraqi dinars during 2013, says Iraqi Finance Ministry

02/09/2012 17:36

ERBIL, September 2 (AKnews) – Iraq's deputy minister of finance said the zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made.

The Iraqi Central Bank and people have been saying for four years that the zeros in the Iraqi currency will be erased and the money will be changed. But the money cannot be changed because prior work for the process has not been executed.

Nabi said: "Reducing the zeros is the Central Bank's authority. As the Finance Ministry we are against the change and removal of the zeros, but the bank insists on removing the zeros.

"We cannot change the Iraqi money in 2013 because the Iraqi budget was estimated with current money."

He also said: “If Central Bank has any intention to change the money then it must do the process soon before calculating 2014's budget.”

By Rebin Hassan http://www.aknews.com/en/aknews/2/324333/

[Alex38]

No preparations have been made???? Say whaaaaaa???? I thought that's what they were doing all along....

[mrmcwhipit]

On again off again help im goin nuts lol,

This must be their evil payback plan.

[RodandStaff]

I am sure it is all a well orchestrated "Smoke-n-Mirrors Plan"... how foolish would they be to actually "announce to the world" what they were actually going to do!!! And yes Alex... they have been getting quite a bit done, some even behind closed doors that we won't know about until the fat lady sings!!! Git-r-dun boyz... just git-r-dun!!!

Thanks for the post Yota!!!

Come On RV Baby!!!

[Butifldrm]

Now, that's interestng. I still think they could increase the rate to 1:1 and keep the same budget. Just take it from Trillions to Billions. From what i understand, the large denoms are almost imposible to get over there. The country is flush with USD. The budget would have to be calculated in both USD and IQD, because it appears that Iraq is primarily using the hard currency of the dollar. He's right "They better do it soon"

[Elixirbaby]

If this all goes down like we want it to, do you think the CBI would be letting all the corrupt politicians in on the plan?

I hoping this is the case.

Go RV

[Luigi1]

The RV may not happen till 2014 to 2018 or even beyond... Iraq isn't ready.

9-1-2012 Intel Guru xxxx. The Central Bank of Iraq (CBI) continues to be the subject of investigations by the Iraqi government. The project of introducing new Iraq currency continues to be suspended by the Iraq government. The New Iraq currency has not been printed. The CBI has not yet been authorized by the Iraqi government. It appears no conclusion has been determined and distributing the new Iraq currency may commence on or between 2014-2018. This is to coincide with the next upcoming elections in Iraq. Also, the electronic software systems intended for the banking industry in Iraq have not been implemented. The problem is the lack of training of the software to the banking managers and employees. The training may take up to two years before you see 100% active participation. There will not be any revaluation in the year 2012. [Oh, my...First Hurricane Isaac, now another site ; ( ]

[zigmeister]

Now, that's interestng. I still think they could increase the rate to 1:1 and keep the same budget. Just take it from Trillions to Billions. From what i understand, the large denoms are almost imposible to get over there. The country is flush with USD. The budget would have to be calculated in both USD and IQD, because it appears that Iraq is primarily using the hard currency of the dollar. He's right "They better do it soon"

I happen to agree with you on this. Which leads me to my theory, you point out the larger bills are probably few inside Iraq, this would mean the dinars we hold which are pink and crisp was not a fluke or mistake from CBI was sent outside of Iraq. It was sent on a story of an RV, so this is all very well planned I think. Even the dollarization in Iraq.

[AkinNAUY]

I actually like this article... It gives me good motivation! Let's do it!

[Unitedrich]

I actually like this article... It gives me good motivation! Let's do it!

Me too.

They will not show their hand -i.e. RV, until after it has already been consummated. Keeping people guessing is what they do best.

[Lioness62]

And this guy is in the Ministry of Finance? It's really not hard to recast a budget in another currency or a revalue of the same one! This sounds like keeping the pot stirred to let confusion rein!

Go RV!

[uncirculd]

When I first saw the headlines I saw another stall tactic. But as I read on, I got excited. Didn't we read an article that said the 2013 budget will be based on the new currency? I think we did. I think they have more than 1 budget and if not I think it ain't so hard to figure it out. This would mean they have seriously made absolutely no progress in this project.

I just can't see that..At least I hope not. I think they will have more than one budget. And yes this is another idiot trying to stall it. And it ticks me off cause it says ministry. Which would mean a whole team or committee. Then it says Nabi. Got to look that freak up.

Edited September 2, 2012 by uncirculd

[Laid Back]

Misinformation....Is all part of the plan

[uncirculd]

Misinformation....Is all part of the plan

Right on! Actually we don't care when they remove the zeros, they can do it whenever they please to ease the economics we care about the re value of the dinar . They might want to hurry up cause we are looking for this to happen this year. Well, I am anyways.

Edited September 2, 2012 by uncirculd

[Realdinar]

Wwsd?

What would shabs do?

C'mon RV...come to sweet daddy.

[Carrello]

I happen to agree with you on this. Which leads me to my theory, you point out the larger bills are probably few inside Iraq, this would mean the dinars we hold which are pink and crisp was not a fluke or mistake from CBI was sent outside of Iraq. It was sent on a story of an RV, so this is all very well planned I think. Even the dollarization in Iraq.

Your dinar is pink ???

[zigmeister]

Your dinar is pink ???

Last time I looked.

[R Veyron]

Misinformation....Is all part of the plan

I might normally disagree with you and I usually do take some of these articles at face value but you have to wonder with such a task at hand, you would think that it would be in their best interest to keep people guessing. As well, why in the world they telll the rest of the world exactly what they were going to do and when they were going to do it ?

[Biker]

The sad part of it all is every body is an expert now days. The Iraq news prints B/S all yr long about there leaders saying this and that banks folks also. And really its all B/S like Rod and Staff says. No body nos Diddly till it happens. They all started talking the 10 year deal, well guess what folks its 10 yrs now.But nobody nos who's doing what and the pumpers keep pumping and the newbees keep believing there Hype. Alls i can say is stay grounded till it goes down.

[asad]

Your dinar is pink ???

I got rid of the pink mine are all blue.

[Carrello]

I got rid of the pink mine are all blue.

Same here. I even have some green ones.

[zigmeister]

You see this is what has always stumped me, they have talked about the change of currency, dropping the three zero's for years. This article brings a very good point, they have not done anything to prepare for this. Why not? Its sort of like if told people I am going to Tahiti. I pack my bags but never buy the ticket or book a room in a hotel. This would indicate I really am not planning to go to Tahiti.

[msmortgagewiz]

You see this is what has always stumped me, they have talked about the change of currency, dropping the three zero's for years. This article brings a very good point, they have not done anything to prepare for this. Why not? Its sort of like if told people I am going to Tahiti. I pack my bags but never buy the ticket or book a room in a hotel. This would indicate I really am not planning to go to Tahiti.

Don't be fooled........and please remind me again, who owns JP Morgan Chase? Here's two for the reading. Banking on a Empire written in 2004, and Bloomberg as of 8/29/2012. They know exactly what they are doing, I'm sure JP Morgan Chase is right there to give out free advice as well.

J.P. Morgan Chase to Run Iraq's Trade Bank, U.S. Says (Update3)

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aEKCAEHxVEBI&refer=home

Banking on Empire

http://www.corpwatch.org/article.php?id=9848

[jeepguy]

if i remember right ---- these same folks spoke out about 3 months ago ,, on the same subject,,, i believe these folks hold a crapper full of large notes ,,, most likely makes our stacks small and they are also wishing the 1 too 1 senario ---- before the { lifting of zero`s what ever that is } ,,,,,, we still wait for september too end ,with coins, and gold coins,, if by some act of god they do get these coins going this month then 1 2013 looks very good

[teddyruxbin]

Zeros cannot be removed from Iraqi dinars during 2013, says Iraqi Finance Ministry

02/09/2012 17:36

ERBIL, September 2 (AKnews) – Iraq's deputy minister of finance said the zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made.

The Iraqi Central Bank and people have been saying for four years that the zeros in the Iraqi currency will be erased and the money will be changed. But the money cannot be changed because prior work for the process has not been executed.

Nabi said: "Reducing the zeros is the Central Bank's authority. As the Finance Ministry we are against the change and removal of the zeros, but the bank insists on removing the zeros.

"We cannot change the Iraqi money in 2013 because the Iraqi budget was estimated with current money."

He also said: “If Central Bank has any intention to change the money then it must do the process soon before calculating 2014's budget.”

By Rebin Hassan http://www.aknews.com/en/aknews/2/324333/

More blah blah blah blather...

Is there a single thing these people ever plan that isn't supposedly delayed or turns out to be a blatant lie?

Those in the know realize that the current global economic system isn't going to last much longer at all.The elites that control the United states and Iraq know this because they are the ones orchestrating it.

It is time for them to put up or shut up.Either they are doing this to discourage investment so they can get a hefty RV profit pre collapse.Either that or all this is a sham and they are merely stalling for time until the collapse.