Economist: need to delete three zeros project this year to support national currency

[katie45]

If you read these articles carefully, as JayLee said, this is exactly what we want. Below is another version. I highlighted the part that confirms that larger 3 zero notes will become a thousand smaller denoms (RV).

Peace Quraishi: the need to implement the project to delete the three zeroes in the current year to support the national currency

06-01-2013 | (Voice of Iraq) - Add a comment - Baghdad (news)

Economic expert called peace Quraishi, the need to apply the project to delete the three zeroes from the currency because it hurt to serve the citizen and the national currency by reducing the monetary blocs with large groups in the local market.

Quraishi said (of the Agency news): The implementation of the project for restructuring the Iraqi currency after deleting the three zeroes which is necessary for it would serve the citizen and the national economy, considering that groups large will turn into a thousand small unit, which will facilitate transactions in the market and accounts for government departments.

He added: the government must support the national project because it will contribute to strengthening the power of the Iraqi dinar and the national economy, stressing the importance of expediting its implementation during the current year.

This central bank is preparing for the implementation of the project to delete the three zeroes from the national currency after the completion of all procedures related to the project, but so far no date has been set for its application due to calls from some officials to postpone it.

The Council called for the prime minister the central bank to wait to draft deleted three zeros from the local currency, saying he was a big project and it needs enough time to apply.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.faceiraq.com/inews.php%3Fid%3D1282504&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbo%3Dd%26tbs%3Dqdr:d&sa=X&ei=OLXpUPHjJomCqQG0g4FY&ved=0CFUQ7gEwBA

[fib1618]

he believes that when the Bank of Zambia says they were to RD they will do it for sure

and know that iraq has been saying it they will also follow in suite

They(Zambia) said they were going to RD on the first of January and they did. I double checked the Bank of Zambia Website.

[boomer113189]

actully they said there were going to RD at the end of 2011 and also 2012 and they set a date for jan 1st and they did it.

when i mean planned in 2011 and 2012 i ment that what they said they would do later on i didnt mean in 2011 or 2012 they were going to do it

[fib1618]

actully they said there were going to RD at the end of 2011 and also 2012 and they set a date for jan 1st and they did it.

Cool.

I became aware of their plan to RD back in early December.

actully they said there were going to RD at the end of 2011 and also 2012 and they set a date for jan 1st and they did it.

when i mean planned in 2011 and 2012 i ment that what they said they would do later on i didnt mean in 2011 or 2012 they were going to do it

Gotcha!

[fib1618]

If you read these articles carefully, as JayLee said, this is exactly what we want. Below is another version. I highlighted the part that confirms that larger 3 zero notes will become a thousand smaller denoms (RV).

Peace Quraishi: the need to implement the project to delete the three zeroes in the current year to support the national currency

06-01-2013 | (Voice of Iraq) - Add a comment - Baghdad (news)

Economic expert called peace Quraishi, the need to apply the project to delete the three zeroes from the currency because it hurt to serve the citizen and the national currency by reducing the monetary blocs with large groups in the local market.

Quraishi said (of the Agency news): The implementation of the project for restructuring the Iraqi currency after deleting the three zeroes which is necessary for it would serve the citizen and the national economy, considering that groups large will turn into a thousand small unit, which will facilitate transactions in the market and accounts for government departments.

He added: the government must support the national project because it will contribute to strengthening the power of the Iraqi dinar and the national economy, stressing the importance of expediting its implementation during the current year.

This central bank is preparing for the implementation of the project to delete the three zeroes from the national currency after the completion of all procedures related to the project, but so far no date has been set for its application due to calls from some officials to postpone it.

The Council called for the prime minister the central bank to wait to draft deleted three zeros from the local currency, saying he was a big project and it needs enough time to apply.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.faceiraq.com/inews.php%3Fid%3D1282504&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbo%3Dd%26tbs%3Dqdr:d&sa=X&ei=OLXpUPHjJomCqQG0g4FY&ved=0CFUQ7gEwBA

Poor translation.

This article makes it much clearer...

http://www.rferl.org/content/iraq_said_planning_currency_overhaul_redenomination/24245867.html

"In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note."

[boomer113189]

If you read these articles carefully, as JayLee said, this is exactly what we want. Below is another version. I highlighted the part that confirms that larger 3 zero notes will become a thousand smaller denoms (RV).

Peace Quraishi: the need to implement the project to delete the three zeroes in the current year to support the national currency

06-01-2013 | (Voice of Iraq) - Add a comment - Baghdad (news)

Economic expert called peace Quraishi, the need to apply the project to delete the three zeroes from the currency because it hurt to serve the citizen and the national currency by reducing the monetary blocs with large groups in the local market.

Quraishi said (of the Agency news): The implementation of the project for restructuring the Iraqi currency after deleting the three zeroes which is necessary for it would serve the citizen and the national economy, considering that groups large will turn into a thousand small unit, which will facilitate transactions in the market and accounts for government departments.

He added: the government must support the national project because it will contribute to strengthening the power of the Iraqi dinar and the national economy, stressing the importance of expediting its implementation during the current year.

This central bank is preparing for the implementation of the project to delete the three zeroes from the national currency after the completion of all procedures related to the project, but so far no date has been set for its application due to calls from some officials to postpone it.

The Council called for the prime minister the central bank to wait to draft deleted three zeros from the local currency, saying he was a big project and it needs enough time to apply.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.faceiraq.com/inews.php%3Fid%3D1282504&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbo%3Dd%26tbs%3Dqdr:d&sa=X&ei=OLXpUPHjJomCqQG0g4FY&ved=0CFUQ7gEwBA

means they plan on dividing the notes by 1000

[DropItLikeItsHot]

If you read these articles carefully, as JayLee said, this is exactly what we want. Below is another version. I highlighted the part that confirms that larger 3 zero notes will become a thousand smaller denoms (RV).

Peace Quraishi: the need to implement the project to delete the three zeroes in the current year to support the national currency

06-01-2013 | (Voice of Iraq) - Add a comment - Baghdad (news)

Economic expert called peace Quraishi, the need to apply the project to delete the three zeroes from the currency because it hurt to serve the citizen and the national currency by reducing the monetary blocs with large groups in the local market.

Quraishi said (of the Agency news): The implementation of the project for restructuring the Iraqi currency after deleting the three zeroes which is necessary for it would serve the citizen and the national economy, considering that groups large will turn into a thousand small unit, which will facilitate transactions in the market and accounts for government departments.

He added: the government must support the national project because it will contribute to strengthening the power of the Iraqi dinar and the national economy, stressing the importance of expediting its implementation during the current year.

This central bank is preparing for the implementation of the project to delete the three zeroes from the national currency after the completion of all procedures related to the project, but so far no date has been set for its application due to calls from some officials to postpone it.

The Council called for the prime minister the central bank to wait to draft deleted three zeros from the local currency, saying he was a big project and it needs enough time to apply.

http://translate.goo...ved=0CFUQ7gEwBA

Katie45 Thank You very much for pointing that out

Now if they could only get their arses moving instead of postponing it however they did say

"expediting its implementation during the current year"

Now if you put those 2 lines together

groups large will turn into a thousand small unit and expediting its implementation during the current year

I think we will have a Very Good reason to CELEBRATE

DropItLikeItsHot GO RV

[keepmwlknfny]

If you read these articles carefully, as JayLee said, this is exactly what we want. Below is another version. I highlighted the part that confirms that larger 3 zero notes will become a thousand smaller denoms (RV).

Peace Quraishi: the need to implement the project to delete the three zeroes in the current year to support the national currency

06-01-2013 | (Voice of Iraq) - Add a comment - Baghdad (news)

Economic expert called peace Quraishi, the need to apply the project to delete the three zeroes from the currency because it hurt to serve the citizen and the national currency by reducing the monetary blocs with large groups in the local market.

Quraishi said (of the Agency news): The implementation of the project for restructuring the Iraqi currency after deleting the three zeroes which is necessary for it would serve the citizen and the national economy, considering that groups large will turn into a thousand small unit, which will facilitate transactions in the market and accounts for government departments.

He added: the government must support the national project because it will contribute to strengthening the power of the Iraqi dinar and the national economy, stressing the importance of expediting its implementation during the current year.

This central bank is preparing for the implementation of the project to delete the three zeroes from the national currency after the completion of all procedures related to the project, but so far no date has been set for its application due to calls from some officials to postpone it.

The Council called for the prime minister the central bank to wait to draft deleted three zeros from the local currency, saying he was a big project and it needs enough time to apply.

http://translate.goo...ved=0CFUQ7gEwBA

You shouldnt read these articles to fit what you want to hear. It can be confusing.

You know this plan has not changed since they started mentioning it years ago and the end meaning has always been the same. You cant pick a small statement out of one article and use it to trump whats been said all along. If the exchange ratio between old to new is 1000 to 1, what does that tell you Katie?

What do you say to these other countries dropping zeros (like Zambia) and the end result? Have you read about them? You should educate yourself so you are more aware of whats going on around us....

[DropItLikeItsHot]

Sorry Keep I'm with Katie and JayLee on this one, I guess only time will tell, I'd rather think positive

Rather have deep pockets full of cash than wallpaper for the hamster cage

DropItLikeItsHot GO RV

[boomer113189]

Sorry Keep I'm with Katie and JayLee on this one, I guess only time will tell, I'd rather think positive

Rather have deep pockets full of cash than wallpaper for the hamster cage

DropItLikeItsHot GO RV

lol

[keepmwlknfny]

Sorry Keep I'm with Katie and JayLee on this one, I guess only time will tell, I'd rather think positive

Rather have deep pockets full of cash than wallpaper for the hamster cage

DropItLikeItsHot GO RV

Im still positive about it.....you can always still be positive even when faced with something negative or acknowledging whats in front of you.....

The ones that are still around that understand the CBIs plans are very hopeful and positive that they wont go through with it......that the GOI will not approve the plan and that they wont let the CBI take the easy way out.....and that they find another way to reduce the trillions in circulation.

You can be realistic and positive at the same time!

[dog53]

1 - 6 - 2013

The Economist called a Quraishi, the need to apply the delete three zeros currency because it hurt to serve the citizens and national currency by reducing large groups cash blocks in the local market.

Quraishi said (News News Agency): the implementation of the restructuring of the Iraqi currency after deleting three zeros were necessary because it will serve the citizen and national economy as large groups would turn into a small unit, which will facilitate market transactions and accounts for State services.

He added: the Government must support the national project that will contribute to strengthening the power of the Iraqi dinar and the national economy, stressing the importance of accelerating its implementation during the current year.

The Central Bank is preparing to implement a project to delete the three zeros national currency after the completion of all procedures related to the project, but so far no date has been set because application calls some officials to postpone it.

The Council demanded that the Prime Minister of the Central Bank to wait to delete the three zeros from the local currency, saying that a large project and needs sufficient time to apply.

My link

Smoke and mirrors meant to confuse the masses . It contradicts itself almost in the same sentence.

[boomer113189]

i highly doubt it smoke and mirrors

[dog53]

i highly doubt it smoke and mirrors

They been saying the same thing for three years now. My guess as they will still be sayin it the day it RV`s.

We`ll see

[rightsonword]

Im still positive about it.....you can always still be positive even when faced with something negative or acknowledging whats in front of you.....

The ones that are still around that understand the CBIs plans are very hopeful and positive that they wont go through with it......that the GOI will not approve the plan and that they wont let the CBI take the easy way out.....and that they find another way to reduce the trillions in circulation.

You can be realistic and positive at the same time!

And this is based on faith rather than facts . . . . .

In one post, you argue for reason based on the fact that every country who has planned to RD has, trillions to billions, etc., etc., etc. Yet, here, you and other lobsters claim to have "faith" that the CBI wil find some other way to reduce trillions to billions, etc., etc., etc. On what facts, evidence, or historical presedence are you basing this on?

If one wants to claim higher reason, then it needs to be consistent.

[keepmwlknfny]

And this is based on faith rather than facts . . . . .

In one post, you argue for reason based on the fact that every country who has planned to RD has, trillions to billions, etc., etc., etc. Yet, here, you and other lobsters claim to have "faith" that the CBI wil find some other way to reduce trillions to billions, etc., etc., etc. On what facts, evidence, or historical presedence are you basing this on?

If one wants to claim higher reason, then it needs to be consistent.

Actually, I didnt say that every country has.....I said practically....cause I do believe there have been a few countries that talked about it over and over but have yet to act on it.

And Im basing them finding other ways to reduce the money supply on the actions of the CBI.....they have started selling bonds again (which can reduce the money supply) and they have mentioned introducing gold coins to get citizens to turn in their bills for the coins (which also will reduce the supply)

So its not based all on faith that they will do something else....its based on the availible evidence that there are other options they can go with......not to mention that the GOI seems to be the one constant in this plan in that they dont seem to believe this is the route to go.....

But besides all that, the context in which I was speaking about having "faith" was based on having "faith" in the wrong definition of "deleting the zeros".....having faith against the facts of what they are....

[keepmwlknfny]

And no offense to the previous person I was conversating with (just trying to make a point here to rightsonsword) but the "faith" that was mentioned previously is like the grass being green but I have "faith" that the grass is actually purple....

Its completely different rightsonsword....

[rightsonword]

Actually, I didnt say that every country has.....I said practically....cause I do believe there have been a few countries that talked about it over and over but have yet to act on it.

And Im basing them finding other ways to reduce the money supply on the actions of the CBI.....they have started selling bonds again (which can reduce the money supply) and they have mentioned introducing gold coins to get citizens to turn in their bills for the coins (which also will reduce the supply)

So its not based all on faith that they will do something else....its based on the availible evidence that there are other options they can go with......not to mention that the GOI seems to be the one constant in this plan in that they dont seem to believe this is the route to go.....

But besides all that, the context in which I was speaking about having "faith" was based on having "faith" in the wrong definition of "deleting the zeros".....having faith against the facts of what they are....

Great, then instead of always harping on people about how the dinar won't appreciate with such a large money supply and that Iraq will moste definitely RD, you can just state exactly how they can reduce the money supply without RDing to raise the value of the currency.

Still, I see it as needing a lot of faith in the governments ability to sell so many bonds that the money supply is reduced considerably enough to substantially appreciate the dinar's value and the introduction of coins that havent, if ever, will be introduced. Faith is faith based on some evidence. You have yours, others have theirs. And from being as objective as possible, both have their merits based on the evidence and vice versa.

[keepmwlknfny]

Great, then instead of always harping on people about how the dinar won't appreciate with such a large money supply and that Iraq will moste definitely RD, you can just state exactly how they can reduce the money supply without RDing to raise the value of the currency.

I do....and have many times.....

Still, I see it as needing a lot of faith in the governments ability to sell so many bonds that the money supply is reduced considerably enough to substantially appreciate the dinar's value and the introduction of coins that havent, if ever, will be introduced. Faith is faith based on some evidence. You have yours, others have theirs. And from being as objective as possible, both have their merits based on the evidence and vice versa.

Yes, faith based on some evidence....and if you paid any attention to the conversation I had with someone else, you would see that your first reply to me was irrelevant because their faith was based on nothing but guru talk....and we all know how factual that can be

[DropItLikeItsHot]

Yes, faith based on some evidence....and if you paid any attention to the conversation I had with someone else, you would see that your first reply to me was irrelevant because their faith was based on nothing but guru talk....and we all know how factual that can be

Keep where did "Guru Talk" come in till you just brought it up?

You know what they say about glass houses

DropItLikeItsHot GO RV

[benjames19]

I may be a new member , but I have visited the news section on DV for over a year and a half. It's amazing how this debate keeps going. The thing I've noticed is that usually the same people on each side are the ones discussing it over and over, with neither one changing their opinion. I personally am neutral in the RV/Lop discussion still after being invested for three years. So the beat goes on!

[JayLee202]

Unfortunately its not just "something I believe".....thats what redenominating does....you can better understand it by using google.

Sure, you want my dinar? Since this deleting the zeros is what we want, how about you buy them from me at a 10 cent rate? You will still make bank right cause this deleting the zeros will put the dinar on par with the USD. So if you have more faith in your beliefs, over the facts, then this should be a no brainer!!!

Well let's call a no-brainer then and inbox me a number to contact you to set this up. Why would it from you at a .10 rate Sir? You're a smart guy and I understand your arrogance and all but that doesn't intimidate me as it may do others. I could with you pound for pound all day. So like I said, let me HAVE your Dinar since you believe what you believe. That's what we all have to go by here. You don't have fax dude because you're not in Iraq calling shots. I can respect your opinions but I don't have to agree with them. I've seen you on here at least for the past three years bashing people for their opinions like you're an economist but you don't know as much as the next guy who's on here just trying to help with what they've been told or what they believe. We both have strong characters here so it's no need to waste other people's time reading debates over something neither one of us have any control over. So back to my original question, let me HAVE your dinar then. And since you're the famous one of the two of us, I'll let you have the last word. But unless you send me a private massage arranging for me to get my dinar from you, it's no need to debate or even read anything else you have to say. Good day Sir!

[keepmwlknfny]

Well let's call a no-brainer then and inbox me a number to contact you to set this up. Why would it from you at a .10 rate Sir? You're a smart guy and I understand your arrogance and all but that doesn't intimidate me as it may do others. I could with you pound for pound all day. So like I said, let me HAVE your Dinar since you believe what you believe. That's what we all have to go by here. You don't have fax dude because you're not in Iraq calling shots. I can respect your opinions but I don't have to agree with them. I've seen you on here at least for the past three years bashing people for their opinions like you're an economist but you don't know as much as the next guy who's on here just trying to help with what they've been told or what they believe. We both have strong characters here so it's no need to waste other people's time reading debates over something neither one of us have any control over. So back to my original question, let me HAVE your dinar then. And since you're the famous one of the two of us, I'll let you have the last word. But unless you send me a private massage arranging for me to get my dinar from you, it's no need to debate or even read anything else you have to say. Good day Sir!

There is no "intimidation" coming from me.....just trying to help you understand what the CBI is talking about.....thats what we are here for right? To be informed and prepared correct??

This particular topic has nothing to debate about....it is what is is....the facts are there about what this process is....the facts we dont have is exactly what they are gonna go through with and thats also why we are here. This is all about our speculation on if the CBI is lying about their intentions to lop the dinar.

Im far from an economist, but there are some things that dont take a degree to understand. So of course, we can sit here and debate all day and night on what the CBI is going to do or what they might do, but there is no debate on what they are telling you, me and the rest of the world that they are gonna do. If I thought there was only one path for this to go down, and that their only option was to lop, I would have sold my dinar already. But the fact is that they do have options.....and just like you, I am hoping they choose those over their current plan.

I must ask though, why in the world would I let someone just HAVE my millions for free? Your not one of those nigerian scam artists are you?? You might as well just tell me that your gonna send me millions of dollars if I send you thousands of my own lol.....

But seriously, if you wanna BUY my dinar at a 10 cent rate I would be more then happy to!!! Otherwise, Im gonna wait this out and see if the GOI tells the CBI to take their plan and shove it!!!

[JayLee202]

Well let's call a no-brainer then and inbox me a number to contact you to set this up. Why would I buy it from you at a .10 rate Sir? You're a smart guy and I understand your arrogance and all but that doesn't intimidate me as it may do others. I could go with you pound for pound all day. So like I said, let me HAVE your Dinar since you believe what you believe. That's what we all have to go by here. You don't have facts dude because you're not in Iraq calling shots. I can respect your opinions but I don't have to agree with them. I've seen you on here at least for the past three years bashing people for their opinions like you're an economist but you don't know as much as the next guy who's on here just trying to help with what they've been told or what they believe. We both have strong characters here so it's no need to waste other people's time reading debates over something neither one of us have any control over. So back to my original question, let me HAVE your dinar then. And since you're the famous one of the two of us, I'll let you have the last word. But unless you send me a private massage arranging for me to get my dinar from you, it's no need to debate or even read anything else you have to say. Good day Sir!

Had to clean up my typos. I don't remember those typos. LOL Guess that happens typing from my bberry.

[JayLee202]

There is no "intimidation" coming from me.....just trying to help you understand what the CBI is talking about.....thats what we are here for right? To be informed and prepared correct??

This particular topic has nothing to debate about....it is what is is....the facts are there about what this process is....the facts we dont have is exactly what they are gonna go through with and thats also why we are here. This is all about our speculation on if the CBI is lying about their intentions to lop the dinar.

Im far from an economist, but there are some things that dont take a degree to understand. So of course, we can sit here and debate all day and night on what the CBI is going to do or what they might do, but there is no debate on what they are telling you, me and the rest of the world that they are gonna do. If I thought there was only one path for this to go down, and that their only option was to lop, I would have sold my dinar already. But the fact is that they do have options.....and just like you, I am hoping they choose those over their current plan.

I must ask though, why in the world would I let someone just HAVE my millions for free? Your not one of those nigerian scam artists are you?? You might as well just tell me that your gonna send me millions of dollars if I send you thousands of my own lol.....

But seriously, if you wanna BUY my dinar at a 10 cent rate I would be more then happy to!!! Otherwise, Im gonna wait this out and see if the GOI tells the CBI to take their plan and shove it!!!

Nigerian Scam artists? The exchange rate isn't even .10 cents dude. lol It sounds like YOU'RE the one running the scam. And for your information, I'm born and raised in Washington, DC. That Nigerian comment you made was pretty racist and you never know who's on these forums that may be offended by your comment Sir. It seems that if someone doesn't agree to Keep's theories, you tries to throw sarcasm and insults out there. Not good champ! People should have a decent conversation without insults about Nigerians or other nationalities. People of all races and nationality has scam artists. Seems to me, YOU'RE the one with skullduggery here dude. Disrespecting other nationalities like that. What's wrong with you man? I'm done with this conversation for real now! I thought more of you than that man!