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Economic parliamentary: the new year will witness the birth of the new Iraqi currency

Markinsa

By Markinsa,
in Iraq & Dinar Related News

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Markinsa Grand Master

Markinsa

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Economic parliamentary: the new year will witness the birth of the new Iraqi currency Astartwi com / Twilight News

Commission ruled parliamentary economy and investment, Sunday, that the new year would witness the birth of the new Iraqi currency deleted three zeros, noting that the Central Bank of Iraq was aspires to equal the value of one dinar per dollar.

He said the Commission's decision Mahma Khalil in an interview with "Twilight News" that "the new year will witness the restructuring Iraqi currency deleting three zeros, and therefore would not be witnessing the birth of new Iraqi currency because of the government's refusal to this project," noting that "the government believes that this work is not of its priorities. "

Khalil added that "the economic and investment commission strongly supported this project with the Governor of the Central Bank because the purpose of it purely economic and is to maintain the Iraqi currency from counterfeiting, damage and fraud."

Khalil pointed out that "there was countries with successful experiences in this area and the re-structure of its currency and deleted some zeros, and we seek to follow suit."

Khalil said he was "under Article 46 of the Law on the Central Bank of his powers to issue new currency or new categories and maintain the value of the Iraqi dinar against other currencies."

Khalil continued that "the very bank of the move is that the par value of the Iraqi dinar per one U.S. dollar after the deletion of zeros and are blocking the way of fake currency dealers, as well as the new currency was non-perishable easily."

Referred to the Central Bank of Iraq began Consideration of an amendment dinar categories last year, and is still a big part of the payments being in cash due to the evolution of the banking system.

The Cabinet had decided, in mid-April last year, wait in the application of the deletion of zeros from the national currency.

And revealed the Finance Committee in the House of Representatives, last July, the postponement of the deletion of zeros from the Iraqi currency, which the central bank intends to initiate them into the year 2014.

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jeepguy Mentor

jeepguy

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:huh: still hoping for the best in this deal!!! and that someone will not throw a wrench into the cog`s of industry and economics ---- > you know for a country so down and out and sooooo broke these guys sure have a ton of wrenches laying about :lol:

hoping the first of the year and not the middle ,,, gives them wayyyyyyy to much time to think about it

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jeepguy Mentor

jeepguy

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i see what your confussed with : this isn`t so good part "there were States with successful experiences in this field and restructuring its currency and has deleted some zeros, and we seek to follow suit." hoping they are not going with the idea 25,ooo is now a 25. but will at least hold true to the 50 dinar is = to 43. dinars ,,, shoot come on iraq show us your not afaird of the 1 dinar is = to 1 u.s. dollar , and the 250 dinar is still 250 dinars after the zero`s and other mess in the way ....... don`t let those hayyyyy sayyyerrrrsss spook ya ------- we here at dinar vets are pulling for ya too be = to the dollar in the 1 2013 year --- and a 1000 dinar will be worth 1000 dinars ;)/> what are your thoughts gina g ??

Edited by jeepguy
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DropItLikeItsHot Newbie

DropItLikeItsHot

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Why I'm confused, these lines

New Year will witness birth of the new Iraq currency

three zeros deleted, noting that the Central Bank of Iraq had to be equal the value of one dinar to the dollar

Then

mid-April last year, wait in the application of the deletion of zeros from the national currency

the postponement of the deletion of zeros from the Iraqi currency, which the central bank intends to initiate them into the year 2014.

So I read this like this

New currency 1st of the year minus zeros equal to one USD - BUT WAIT, in the application to delete zeros AND not gonna do it till 2014

So what's it gonna be???

Like JeepGuy said "these guys sure have a ton of wrenches laying about"

I got it... LOTS OF SMOKE and I think it's coming from a "Big Fatty" home-rolled - They don't even know - Stoned I guess cigar.gif

DropItLikeItsHot GO RV biggrin.gif

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Polishfloridian Newbie

Polishfloridian

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Just played Led Zepplin's "Dazed and Confused" cause I sure am....... Sounds like "LOP" one statement. Sounds like "RV" the next. Then goes back to sounds like "LOP" I'M either gonna go buy some more dinar (another mil)or go get me a box of Dunkin' Donuts........... Not sure which one yet. (BOTH seem to be bad for my health!)

thanks for the post anyway Mark in SA and comments by Drop.....

Art

Edited by Polishfloridian
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LIBoy Newbie

LIBoy

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These articles are strictly for the people of Iraq. I'm sticking to my theory of an in country lop followed by the dramatic increase of the 000's notes for international investors. I believe the plan was never to have the people of Iraq get wealthy from an increased value of their currency. Their blessing will come from the HCL. The people who will gain wealth from the currency are the foreign investors who had the faith and foresight to invest in a new, struggling Middle East country trying to gain stability and get back on it's feet. This is strictly my humble opinion but I feel stronger now than ever before that it will come to fruition.

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unirod Apprentice

unirod

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These articles are strictly for the people of Iraq. I'm sticking to my theory of an in country lop followed by the dramatic increase of the 000's notes for international investors. I believe the plan was never to have the people of Iraq get wealthy from an increased value of their currency. Their blessing will come from the HCL. The people who will gain wealth from the currency are the foreign investors who had the faith and foresight to invest in a new, struggling Middle East country trying to gain stability and get back on it's feet. This is strictly my humble opinion but I feel stronger now than ever before that it will come to fruition.

LIBoy,

I'm with you on this. Why else would Iraqi law limit citizens traveling outside on business or otherwise to only 200,000 Dinar? The profit on an appreciating Dinar would be outside Iraq. Inside it would be a neutral event....IMO

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Tennesseegirl Newbie

Tennesseegirl

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These articles are strictly for the people of Iraq. I'm sticking to my theory of an in country lop followed by the dramatic increase of the 000's notes for international investors. I believe the plan was never to have the people of Iraq get wealthy from an increased value of their currency. Their blessing will come from the HCL. The people who will gain wealth from the currency are the foreign investors who had the faith and foresight to invest in a new, struggling Middle East country trying to gain stability and get back on it's feet. This is strictly my humble opinion but I feel stronger now than ever before that it will come to fruition.

I like your opinion! Honestly for me it's like a breath of fresh air! I'm going to hang on to your words and pray your right :)

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HYDRANT Newbie

HYDRANT

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Posted (edited)

These articles are strictly for the people of Iraq. I'm sticking to my theory of an in country lop followed by the dramatic increase of the 000's notes for international investors. I believe the plan was never to have the people of Iraq get wealthy from an increased value of their currency. Their blessing will come from the HCL. The people who will gain wealth from the currency are the foreign investors who had the faith and foresight to invest in a new, struggling Middle East country trying to gain stability and get back on it's feet. This is strictly my humble opinion but I feel stronger now than ever before that it will come to fruition.

ithink you hit the nail on the head especially about the hcl---this has been what i think will happen since i have owend this for 4 years and started on this site for 2 years---the key to the iraqs wealth is the hcl law---no dubt in my mind and i will stick to that

Edited by Markinsa
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RVPleaseToday Newbie

RVPleaseToday

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"Their blessing will come from the HCL. The people who will gain wealth from the currency are the foreign investors who had the faith and foresight to invest in a new, struggling Middle East country trying to gain stability and get back on it's feet."

Your reasoning doesn't make sense. If the people of Iraq don't benefit directly from an RV, an out of country "investor only" RV will only bury the Iraqi people under trillions of dollars of debt to foreign investors. Do you really think any result of the HCL would equal the trillions of dollars an RV would create in an instant for outsiders? Or that the Iraqi people would stand for such a thing?

I doubt many of us squirreled away all of this dinar as a benevolent investment in a struggling Iraq.

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RVPleaseToday Newbie

RVPleaseToday

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If the exchange rate remains the same, and you remove three zeros from a 1000 Dinar note, for example, that note becomes a 1 Dinar note, worth 1,000 times more than before the zeros were removed, making it worth almost a dollar. That's what a LOP does. It is a value neutral event.

Edited by RVPleaseToday
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LIBoy Newbie

LIBoy

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"Their blessing will come from the HCL. The people who will gain wealth from the currency are the foreign investors who had the faith and foresight to invest in a new, struggling Middle East country trying to gain stability and get back on it's feet."

Your reasoning doesn't make sense. If the people of Iraq don't benefit directly from an RV, an out of country "investor only" RV will only bury the Iraqi people under trillions of dollars of debt to foreign investors. Do you really think any result of the HCL would equal the trillions of dollars an RV would create in an instant for outsiders? Or that the Iraqi people would stand for such a thing?

I doubt many of us squirreled away all of this dinar as a benevolent investment in a struggling Iraq.

I understand your thoughts. However if I expand on my theory it would explain that part of it as well. Iraq will not be paying out foreign investors directly. That would be impossible. Each foreign investor, lets stick to the US investors, we will be cashing in our dinar here and the USD will be coming from our fed. The US federal reserve will then collect all those dinar notes and our government will use them to purchase from Iraq the one commodity that they will never run out of................OIL. The Iraqi government will then collect the three zero notes and most likely destroy them. In my opinion, this entire plan was laid out years ago and the powers that be are simply waiting for all the pieces to fall in place so that it can be implemented.

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RVPleaseToday Newbie

RVPleaseToday

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Each foreign investor, lets stick to the US investors, we will be cashing in our dinar here and the USD will be coming from our fed."

There are a couple of problems with your logic. The FED would have to give us trillions now that it would take 100 years to recoup if they bought oil from Iraq. Our government can't avoid a fiscal cliff, much less come up with trillions of dollars over night. The biggest problem, though, is that oil isn't as scarce or as valuable as it once was. We are actually using fewer fossil fuels because of technological efficiencies, not more. And, the U.S. policy is energy independence in a decade or two. Oil is also a commodity. Every barrel Iraq pumps is one less barrel they have to pump in the future.

Our best hope to profit is that Iraq can get its act together, become prosperous itself, and some day increase the value of its currency in the international markets. As long they remain unstable, and their currency is pegged, or were it to be dependent on a commodity, they have little chance of increasing the value of the Dinar. This has always depended on Iraq emerging as a successful, democratic nation. That was the plan. So far, they aren't even close.

Edited by RVPleaseToday
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SWFloridaGuy Newbie

SWFloridaGuy

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Just played Led Zepplin's "Dazed and Confused" cause I sure am....... Sounds like "LOP" one statement. Sounds like "RV" the next. Then goes back to sounds like "LOP" I'M either gonna go buy some more dinar (another mil)or go get me a box of Dunkin' Donuts........... Not sure which one yet. (BOTH seem to be bad for my health!)

thanks for the post anyway Mark in SA and comments by Drop.....

Art

Dunkin Donuts and bust the Led out. I'll join you.

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