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Official: Dinar to Soon Return to What It Was Before 1980


ReVbo
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Thanks ReVbo, good tune also. The Lopsters are awfully quiet.

I FOUND THE LOPSTERS CAN BE CONTAINED IN ONE TOPIC IF YA JUST KEEP TYPING CRAP AT THEM THAT keeps them busy reasearching posting .. arguing ..that way the rest of the site is free to discuss things without them ..they have a lopster room ,, but choose to change their names constantly so they can roust about this site .. so make up some topic . and just tie them down in one tpoic .. its fun .

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Keep,,,u gotta like this article right??

LOL

Of course I do.....no mentioning of deleting the zeros and the value being raised.....so I cant really complain.....

Would just like to know exactly how they plan on doing this.....I know they have mentioned a different monetary policy then being fixed, which would be the best for us, but the details are what will complex me until it goes down....

Cant help it....its just how my mind works.....damn technicians lol....always have to know how and cant just accept it as is.....

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LOL

Of course I do.....no mentioning of deleting the zeros and the value being raised.....so I cant really complain.....

Would just like to know exactly how they plan on doing this.....I know they have mentioned a different monetary policy then being fixed, which would be the best for us, but the details are what will complex me until it goes down....

Cant help it....its just how my mind works.....damn technicians lol....always have to know how and cant just accept it as is.....

I enjoy reading your post and respect your knowledge. IMO everything that Iraq as put out that has to do with monetary policy has been inconsistent which tells me they are not truthful. I believe they will not delete zeros and up the value because it makes more sense to do so.

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I don't believe that they are referring to the value returning to what it was. There is no way to return the value to where it was in the 1970s without a drastic reduction in the money supply which could only be accomplished through a re-denomination. I believe that they are referring to the fact that the dinar was traded internationally prior to 1980 and they believe it will be again.

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I don't believe that they are referring to the value returning to what it was. There is no way to return the value to where it was in the 1970s without a drastic reduction in the money supply which could only be accomplished through a re-denomination. I believe that they are referring to the fact that the dinar was traded internationally prior to 1980 and they believe it will be again.

The head of the Department of Banking and Finance Ministry Hilal Taan said in other articals said " the process of Redenominating from the Iraqi ddinar currency will lead to a Revaluation " so basically once they Rebase there currency will we will see iraq hvae a 3 + rate years later

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Thanks ReVbo, good tune also. The Lopsters are awfully quiet.

Oops ! :o U Spoke Too Soon ! :soon:

I don't believe that they are referring to the value returning to what it was.

I'll Show U To Ur Table For One Sir ..... And I See That Ur Already Familiar With The Whine List .....

:D:D:D

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The head of the Department of Banking and Finance Ministry Hilal Taan said in other articals said " the process of Redenominating from the Iraqi ddinar currency will lead to a Revaluation " so basically once they Rebase there currency will we will see iraq hvae a 3 + rate years later

I was referring to the article references by the OP. I do agree that they could eventually return to a $3 valuation after they re-denominate.

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Thanks good read.....but.............what is Iraqs idea of "soon"?

it means ( In The Coming Day's ) Thanks betty Im off to get my Chrystal. Love your post. and congratulation on your up coming marriage.

Edited by Boozer
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The head of the Department of Banking and Finance Ministry Hilal Taan diminishing quantities of central bank reserves of gold does not affect the price of the local currency.

He said in a statement to the National Iraqi News / Nina / today: “The basket cash reserve covering currencies do not include the gold only, but depend on the dollar and the pound sterling and the euro, in addition to gold bullion.”

He said: “The Iraqi dinar has been a week before the beginning of the deal by one of the sites of the U.S. because of the high currency reserves to more than $ 67 billion is evidence that the Iraqi currency backed by a strong balance can not be influenced by declining gold bullion.”

He pointed out that “the dinar traded in global financial directory sites on the recovery of the currency and that there is a future for the Iraqi dinar and would soon return to what it was before 1980 because of the global demand in the global financial markets.”

The Iraqi Central Bank denied reports by the media about the low reserves of gold, stressing that it saw stable over the past several months.

He said in a statement yesterday he was “no truth to the news reported by some media on the low bank reserves of gold,” stressing that the reserves now total 29.790 tons.

The International Monetary Fund (IMF) revealed in a report last week, said Iraq cut its gold reserves by a quarter to reach 29.9 tonnes in November 2012, pointing out that the reserves in September and October of last year reached 39.4 tons.

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