Zeros “Cannot be Removed from Iraqi Currency During 2013″ 06 September 2012

[jpdinar]

Zeros “Cannot be Removed from Iraqi Currency During 2013″

Posted on 06 September 2012. Tags: Central Bank, IQD, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation

Zeros “Cannot be Removed from Iraqi Currency During 2013″

By John Lee.

Iraq’s deputy Minister of Finance has said the three zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made.

According to the report from AKnews, 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.

The Minister of State reportedly 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.

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

(Source: AKnews)

http://www.iraq-businessnews.com/2012/09/06/zeros-cannot-be-removed-from-iraqi-currency-during-2013/

[Dinar Buddy]

Still 24 to 36 months from seeing anything...

We wait, and wait some more...

[Elixirbaby]

So who's John lee? And I haven't seen reports on them starting to work on 2013 budget

[Laid Back]

We wait

Go RV

[SWFloridaGuy]

John Lee is a garbage source in my opinion. Here's a sampling of his recent work:

8-29-2012 John Lee : "If there was any possibility of a 1,000x revaluation, would dinar sellers be so keen to sell their stock to you? Is it possible that they think their mark-up is the best profit they can make? The 1,000x rumour has been circulating for many years, but the forex markets have not reacted by driving up dinar prices significantly. On what basis do you believe you’re more “in the know” than the market? Does scepticism of massive gains from the dinar make you angry? If so, and if you think you’re going to make 1,000 times your money, what is the reason for your anger?"

This is a gag reel piece and no credible author would publish such nonsense. Not only does he not understand that the job of currency dealers or an exchange is to sell currency, he doesn't realize the IQD is not traded on forex. I ignore anything written by John Lee, just my personal preference. I don't think he's credible.

Edited September 7, 2012 by SWFloridaGuy

[GT ACE]

Iraq’s deputy Minister of Finance has said the three zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made...

It was a day or two ago that they supposedly were unboxing some new dinars "LD's" and discovered that the Kurdish language had been, some how forgotten! It seems the only preparation these poor ba$tards can handle (with their left hands) is "Preparation "H" Actually when hell freezes over it might be a comfortable place to spend our Dinars.....

Read more: http://dinarvets.com/forums/index.php?/topic/128047-zeros-%e2%80%9ccannot-be-removed-from-iraqi-currency-during-2013%e2%80%b3-06-september-2012/#ixzz25o33V0k7

[NWGUY]

Don't worry!!

Things are moving along just fine. This article is bogus!! We are on track to see something exciting, and there are not enough negative articles to stop it!!

We have had great news this week, and I am really optimistic that we are in the final leg of this journey.

They are working hard on the HCL, Ministers, Kuwait issues, and Chapter 7.

Do not get distracted by articles like this one!

Go RV!!!

[Carrello]

No preparation? Are you kidding me! That tells you right there this Lee guy is a cowboy, and not in a good cowboy way. There is a reason why this guy would wear boots.

[NWGUY]

No preparation? Are you kidding me! That tells you right there this Lee guy is a cowboy, and not in a good cowboy way. There is a reason why this guy would wear boots.

Carrello is showing us how to say it like it is, in just a few simple words!!!

Go RV!!!

[sandstorm]

This is superb news. Dont delete the three zeroes................just raise the exchange rate. The longer they push it back....the bigger window we have have for multipe rvs.

[asad]

Some peeps are not doing the research on this investment and reading this crap that fools are cooking up to upset folks that read these post. Stay grounded. Carrillo and SW research and a few others research and check news and articles on this investment. If you are not sure do the research!!! thanks

[Bongalow]

Zeros “Cannot be Removed from Iraqi Currency During 2013″

The Minister of State reportedly 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.

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

(Source: AKnews) ----------------------------------------------> THIS IS NOT ACCURATE!!!

http://www.iraq-busi...cy-during-2013/

This is what I know.... Iraqibusinessnews.com are a bunch of goons with poor information. They have not more insight into what is happening with the dinar than OKIE. These are western and eastern folk who are trying to make a buck. They know nothing of what they speak. I am not a rumour man myself, I bring facts and links. These are the same type of people like baghdad invest. Just pot stirrers. Do not pay them any mind. Until Maliki, Talabani, Shabbibi, Barzani or AM himself, I tell you to stand down, and let what happens come to fruition. The reality is that we are in limbo and nothing we can do to change other than be ready when the time comes. NOOBS----- Pay no attention to these people. Had I listened to them I would not be on the ISX or Warka or any other factions that I dabble in in the middle east. It is a powder keg ready to blow in the very near future. Physically and Financially! Best wishes!

Stay the course or get of the ride!! Only two options..... SINK OR SWIM!!!

[uncirculd]

Looks good to me. Hurry and do it now. Make sure the budget reflects it. simple, i'm in!

[Butifldrm]

I pretty much discount anything Iraqi Business news has to say about Iraq's currency reform. John lee, and the other reporters probably have been used to disway speculaton. What better medium than english ready translated news. Remeber this? i wouldn't put too much stock in currency news from IBN other than the more negative the news get, the closer we are. JMO

APRIL FOOL: Worldwide Celebrations as Iraqi Dinar Revalues 1:1000!

Posted on 01 April 2012. Tags: April Fool, IQD, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation

Pages: 1 2

Just as the dinar speculators predicted, Iraq has re-valued its currency 1000-fold, making dollar-millionaires of ordinary folk from Anbar to Arkansas!

http://www.iraq-businessnews.com/2012/04/01/worldwide-celebrations-as-iraqi-dinar-revalues-11000/

[dontlop]

B. Monetary and Exchange Rate Policy

14. The authorities remain committed to ensuring the independence of the CBI. A

ruling by Iraq’s Federal Supreme Court also noted that while the CBI is part of the country’s

executive apparatus, it is by law independent in its decisions and operations.

page 10 >>>> http://www.imf.org/external/pubs/ft/scr/2011/cr1175.pdf

[keepmwlknfny]

Here is to hoping they cannot be removed in 2014,'15,'16, etc etc lol....

[dontlop]

B. Monetary and Exchange Rate Policy

14. The authorities remain committed to ensuring the independence of the CBI. A

ruling by Iraq’s Federal Supreme Court also noted that while the CBI is part of the country’s

executive apparatus, it is by law independent in its decisions and operations.

page 10 >>>> http://www.imf.org/external/pubs/ft/scr/2011/cr1175.pdf

sorry its on page 9 ...not 10

[doctor robbins]

sandstorm and keepm are correct. I don't know why dinar investors would be upset at this news. It's the only chance they have to make a profit. If Iraq follows through with deleting the zeros the dinar that investors hold will be demonetized.

Edited September 8, 2012 by doctor robbins

[Austin-Powers-for-PM]

sandstorm and keepm are correct. I don't know why dinar investors would be upset at this news. It's the only chance they have to make a profit. If Iraq follows through with deleting the zeros the dinar that investors hold will be demonetized.

However, the CBI has said on multiple occasions that the current notes will run concurrently with the new notes for a 2-3 year period, so that blows the demonetize fear that some have. Remember, this is supposedly from a Deputy in the Finance Ministry. For all we know, this comment could have come from the Ministry night janitor calling himself a deputy.......Deputy of Finance Ministry for Internal Operations (i.e, the janitor)

[Choppermike]

Iraq’s deputy Minister of Finance has said the three zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made...

It was a day or two ago that they supposedly were unboxing some new dinars "LD's" and discovered that the Kurdish language had been, some how forgotten! It seems the only preparation these poor ba$tards can handle (with their left hands) is "Preparation "H" Actually when hell freezes over it might be a comfortable place to spend our Dinars.....

Read more: http://dinarvets.com/forums/index.php?/topic/128047-zeros-%e2%80%9ccannot-be-removed-from-iraqi-currency-during-2013%e2%80%b3-06-september-2012/#ixzz25o33V0k7

It's a perpetual game of "smoke and mirrors." They are the experts in this game of propaganda turnarounds. Tell one thing on Monday and then completely change the direction on Tuesday. I'm telling you, when I trained Islamic pilots in the early 80s, I was told in no uncertain terms that they are taught to deceive and redirect from the truth as a culture from the the time they are taught to speak and think. We will never fully know what is going on, because that is their plan. Come to think of it, kinda like our government.

[doctor robbins]

However, the CBI has said on multiple occasions that the current notes will run concurrently with the new notes for a 2-3 year period, so that blows the demonetize fear that some have. Remember, this is supposedly from a Deputy in the Finance Ministry. For all we know, this comment could have come from the Ministry night janitor calling himself a deputy.......Deputy of Finance Ministry for Internal Operations (i.e, the janitor)

In most redenominations there's a designated time frame to allow both currencies to be accepted before the older currency is demonetized. In Turkey the lira and new lira were both accepted for purchases for one year. After a year you could only redeem the lira at banks. This is essentially the same plan that has been described by Iraq. The fact that they will allow the old dinar (IQD) to be accepted for two years does not mean that it won't be demonetized and it doesn't mean that its value will increase.

[DetroitDinar]

I don't really care for this John Lee fellow