Iraqi Cabinet rules out replacing or omitting zeros from Iraqi currency

[k98nights]

Iraqi Cabinet rules out replacing or omitting zeros from Iraqi currency

Monday, 04 February 2013 12:18 | | |

Baghdad (AIN) -The Secretariat General of the Council of Ministers ruled out replacing the Iraqi currency or crossing out the zeros from it in this phase.

A statement by the SG quoted its Secretary General, Ali al-Allaq, as saying "The project of replacing the Iraqi currency and omitting the three zeros from it was discussed in past period at the CoM where the Council stressed that this topic is not within the priorities of the Council since there is no problem in this respect."

"The Iraqi Government thinks that changing the currency needs suitable and stable circumstances," he added confirming "This proposal will be given priority if the stable conditions are there."

"The price of the Iraqi Dinar is expected to rise against the US Dollar encouraged by the increase of the currency reserve accumulated at the Central Bank of Iraq in addition to the revival of the economic growth of Iraq," Allaq concluded. /End/

http://www.alliraqnews.com/en/index.php?option=com_content&view=article&id=27856:iraqi-cabinet-rules-out-replacing-or-omitting-zeros-from-iraqi-currency-&catid=40:2011-11-19-15-20-50

[yota691]

and another Source: Radio Tigris - 02/04/2013

Government seeks to raise the value of the dinar and exclude cancellation of zeros from the currency

Excluded the General Secretariat of the Council of Ministers "replacement currency or cancel three zeros them at this stage and it is seeking to raise the value of the dinar against the dollar," noting that it "seeks to be the exchange rate 1000 dinars to the dollar."

said Secretary General of the Council of Ministers Ali Mohsen Ismail said Monday that "this issue was discussed during the last term in the Council of Ministers," noting that "the Council stressed that this project is not a priority for the government at the moment there is no real problem in this area."

said Mohsen said that "replacing the currency in end the same process requires large adjustments, as there are still issues with this side after the fall of the dictatorial regime. "

[RVPleaseToday]

This is NOT good. Any rise would be pips under these circumstances. And if they are still talking reserves, they are still talking pegged.

Edited February 4, 2013 by RVPleaseToday

[ssmith]

All smoking mirrors; they could raise it to 100 dinars or 1 dinar to equal 1 dollar.. They are not going to tell anybody before they do it.. Just do it !!! Go baby RV....

[JWJW11]

This is NOT good. Any rise would be pips under these circumstances. And if they are still talking reserves, they are still talking pegged.

ROTFLMAO!!! YOU CANT BE SERIOUS! Get a hold of yourself already.

This is GREAT! Exactly what we want to hear! Dont be ridiculous....and you obviously are....keep it to yourself....pay attention to whats going on around you.....you are WAYYYYY OFF

[sxsess]

All smoking mirrors; they could raise it to 100 dinars or 1 dinar to equal 1 dollar.. They are not going to tell anybody before they do it.. Just do it !!! Go baby RV....

Thats right! We have read articles from one end of the spectrum to another. They are not going to tell the world the true plan of revaluation.

[yota691]

what the heck one more they all over the place!! Iraqi government is seeking to make 1,000 dinars equals one dollar

2013-02-04 16:23:08

Excluded the General Secretariat of the Council of Ministers replacement currency or cancel three zeros them at this stage and it is seeking to raise the value of the dinar against the dollar, noting that the government seeks to be the exchange rate 1000 dinars to the dollar.

said Secretary General of the Council of Ministers Ali Mohsen Ismail said in a statement news, the agency received news news (et) a copy of Monday 4 \ 2, the project replace currency and the abolition of three zeros discussed during the last term in the Council of Ministers, stressing that the Council stressed that this project is not a priority for the government at the moment there is no problem real in this area.

and pointed out that the replacement of the currency in itself requires a large adjustments, as there are still issues with this side after the fall of the dictatorial regime, where the mass of currency in circulation is limited, but it has doubled now than it was at the time, and therefore the pull this block is a difficult task and large.

Secretary-General stressed that some have the wrong impression implies that the deletion of zeros will reduce the size of the money in circulation Kkamih, and fact that he does not reduce even by 1% and although the government believes that the change of currency is a good thing if the presence of suitable conditions to be applied, but does not give him the priority only when new stable conditions.

[ssmith]

ROTFLMAO!!! YOU CANT BE SERIOUS! Get a hold of yourself already.

This is GREAT! Exactly what we want to hear! Dont be ridiculous....and you obviously are....keep it to yourself....pay attention to whats going on around you.....you are WAYYYYY OFF

I agree great news; I've been holding this dinar for so long; this news is wonderful...something is happening !!!

[JWJW11]

Thats right! We have read articles from one end of the spectrum to another. They are not going to tell the world the true plan of revaluation.

You know thats right!

The one thing we know for sure is you can NOT trust anything they say.....just pay attention to the big picture

[RVPleaseToday]

It's not good because they can't do a major RV with 65 trillion dinar, or even 10 trillion dinar around. The best we can expect if the currency numbers remain the same is very small movements in exchange rate.

[Mammaw]

"The Iraqi Government thinks that changing the currency needs suitable and stable circumstances," he added confirming "This proposal will be given priority if the stable conditions are there."

"The price of the Iraqi Dinar is expected to rise against the US Dollar encouraged by the increase of the currency reserve accumulated at the Central Bank of Iraq in addition to the revival of the economic growth of Iraq," Allaq concluded. /End/

------------------------------------------

What I would like to know is WHAT constitutes "SUITABLE AND STABLE"?...It must be by their definition, because by ours it would never happen. IMO.

And there has been too much information recently to show we are looking at a float. I don't believe it is going to be pegged. IMO.

[Seabee]

ROTFLMAO!!! YOU CANT BE SERIOUS! Get a hold of yourself already.

This is GREAT! Exactly what we want to hear! Dont be ridiculous....and you obviously are....keep it to yourself....pay attention to whats going on around you.....you are WAYYYYY OFF

I agree 100% with you on this, but it remains another flip flop story as we have heard this banter before. Time will tell in the end.;

[Chuck Norris]

I've never seen so many currency articles. It's been crazy lately.

[JWJW11]

It's not good because they can't do a major RV with 65 trillion dinar, or even 10 trillion dinar around. The best we can expect if the currency numbers remain the same is very small movements in exchange rate.

Nothing their telling you is true.....

Btw hey Yota! Good to see you my friend:)

[Biker]

Yes i have to agree, no news for some time and now all the sudden theres news every where. Just wish they would quiet with the B/S and do it. Great Post Knight and Yota.

[sxsess]

"The Iraqi Government thinks that changing the currency needs suitable and stable circumstances," he added confirming "This proposal will be given priority if the stable conditions are there."

"The price of the Iraqi Dinar is expected to rise against the US Dollar encouraged by the increase of the currency reserve accumulated at the Central Bank of Iraq in addition to the revival of the economic growth of Iraq," Allaq concluded. /End/

------------------------------------------

What I would like to know is WHAT constitutes "SUITABLE AND STABLE"?...It must be by their definition, because by ours it would never happen. IMO.

And there has been too much information recently to show we are looking at a float. I don't believe it is going to be pegged. IMO. :)/>

I agree... I pray it floats!!

[yota691]

Nothing their telling you is true.....

Btw hey Yota! Good to see you my friend:)

GREAT to See you my Friend,,and always Thanks for Having my Back!!!

[R Veyron]

Just being curious, but does "not crossing out the zero's" mean no lop ? That's my take but please correct me if Im wrong.

[SocalDinar]

Thanks K98nights and Yota.

Good articles. No deletion of zeroes as of yet. Now let's see it float.

RVPLEASE TODAY

What do you mean "And if they are still talking reserves, they are still talking pegged"

In July 1945, Congress passed the Bretton Woods Agreements Act, authorizing U.S. entry into the IMF and IBRD. The two organizations officially came into existence on December 27, 1945. The fixed exchange rate regime established at Bretton Woods endured for the better part of three decades; only after the dollar exchange crises of August 1971 (when President Richard Nixon suspended the dollar's convertibility into gold) and February/March 1973 did floating exchange rates become the norm for the currencies of the major industrialized nations.

http://history.state.gov/milestones/1937-1945/BrettonWoods

Edited February 4, 2013 by SocalDinar

[flyguy2323]

ROTFLMAO!!! YOU CANT BE SERIOUS! Get a hold of yourself already.

This is GREAT! Exactly what we want to hear! Dont be ridiculous....and you obviously are....keep it to yourself....pay attention to whats going on around you.....you are WAYYYYY OFF

Thank you for saying this. You are exactily right. I see this as being huge for us. This may actualy happen this month.

[RVPleaseToday]

Socal, do you think Iraq is a "major industrialized nation?"

[easyrider]

February is looking better and better folks, lets stay positive and patient for now.

Socal, do you think Iraq is a "major industrialized nation?"

im NOT so cal but it definitely will be and faster than you think.

[zigmeister]

JWJ is correct in my opinion, pay attention to their action, not what the papers say they are doing or going to do or not going to do, pay attention to what they are actually getting done. They have been getting their ducks in a row while Iraq churns out articles of Maliki leaving town with all of his staff for a soccer match and no one knows where he really is. While this article may be another story, it appears they have put the new currency to the side and deletion of zero's because nothing in this regard has happened.

[SocalDinar]

Socal, do you think Iraq is a "major industrialized nation?"

Actually I do. Far more happening in their private sector than we see in the news

As far as Foreign reserves go it Looks like they are number 32 in the world to me.

Countries  Millions of US Dollars   Source and update 

Data updated: March 2010)

2 Japan $1,320,970 (Source: IMF; Data updated: March 2012)

3 Eurosystem $1,067,078 (Source: IMF; Data updated: February 2012)

4 Russia $514,901 (Source: IMF; Data updated: February 2012)

5 Saudi Arabia $418,024 (Source: World Bank; Data updated: April 2010)

6 Brazil $365,216 (Source: IMF; Data updated: March 2012)

7 Taiwan $360,230 (Source: World Bank; Data updated: May 2010)

8 Switzerland $330,625 (Source: IMF; Data updated: February 2012)

9 Korea $315,998 (Source: IMF; Data updated: February 2012)

10 India $296,370 (Source: IMF; Data updated: February 2012)

11 China,P.R.:Hong Kong $294,735 (Source: IMF; Data updated: February 2012)

12 Germany $261,143 (Source: IMF; Data updated: March 2012)

13 France $247,496 (Source: IMF; Data updated: February 2012)

14 Singapore $247,014 (Source: IMF; Data updated: February 2012)

15 Italy $193,213 (Source: IMF; Data updated: January 2012)

16 Thailand $181,016 (Source: IMF; Data updated: February 2012)

17 Algeria $149,385 (Source: World Bank; Data updated: April 2010)

18 Mexico $149,246 (Source: IMF; Data updated: December 2011)

19 United States $148,445 (Source: IMF; Data updated: March 2012)

20 Malaysia $144,312 (Source: IMF; Data updated: February 2012)

21 United Kingdom $125,686 (Source: IMF; Data updated: March 2012)

22 Indonesia $112,220 (Source: IMF; Data updated: February 2012)

23 Poland $104,855 (Source: IMF; Data updated: February 2012)

24 Libya $97,117 (Source: World Bank; Data updated: March 2010)

25 Denmark $90,658 (Source: IMF; Data updated: February 2012)

26 Turkey $89,712 (Source: IMF; Data updated: February 2012)

27 European Central Bank $88,174 (Source: IMF; Data updated: February 2012)

28 Philippines $78,101 (Source: IMF; Data updated: February 2012)

29 Israel $77,046 (Source: IMF; Data updated: January 2012)

30 Canada $69,795 (Source: IMF; Data updated: February 2012)

31 Chile $64,773 (Source: IMF; Data updated: January 2012)

32 Netherlands $54,374 (Source: IMF; Data updated: March 2012)

33 Australia $53,101 (Source: IMF; Data updated: February 2012)

34 Peru $52,870 (Source: IMF; Data updated: February 2012)

35 Sweden $52,275 (Source: IMF; Data updated: February 2012)

36 South Africa $51,461 (Source: IMF; Data updated: January 2012)

37 Spain $49,884 (Source: IMF; Data updated: March 2012)

38 Romania $48,868 (Source: IMF; Data updated: January 2012)

39 Belgium $48,397 (Source: IMF; Data updated: February 2012)

40 Norway $46,795 (Source: IMF; Data updated: November 2011)

41 Argentina $46,668 (Source: IMF; Data updated: February 2012)

42 Hungary $46,319 (Source: IMF; Data updated: March 2012)

43 Nigeria $45,469 (Source: World Bank; Data updated: October 2009)

44 Czech Republic $43,303 (Source: IMF; Data updated: March 2012)

45 Kazakhstan $35,352 (Source: IMF; Data updated: February 2012)

46 Austria $34,212 (Source: IMF; Data updated: February 2012)

47 United Arab Emirates $33,874 (Source: World Bank; Data updated: March 2010)

48 Colombia $33,802 (Source: IMF; Data updated: March 2012)

49 Ukraine $31,879 (Source: IMF; Data updated: February 2012)

50 Lebanon $30,889 (Source: World Bank; Data updated: March 2010)

51 Portugal $24,817 (Source: IMF; Data updated: February 2012)

52 New Zealand $21,826 (Source: IMF; Data updated: February 2012)

53 Qatar $21,035 (Source: World Bank; Data updated: April 2010)

54 Morocco $20,396 (Source: IMF; Data updated: February 2012)

55 Kuwait $20,274 (Source: World Bank; Data updated: January 2010)

56 Bulgaria $17,805 (Source: IMF; Data updated: March 2012)

57 Egypt $16,559 (Source: IMF; Data updated: February 2012)

58 Vietnam $16,447 (Source: World Bank; Data updated: December 2009)

59 Croatia $15,346 (Source: IMF; Data updated: February 2012)

60 Venezuela $14,693 (Source: World Bank; Data updated: May 2010)

61 Angola $14,496 (Source: World Bank; Data updated: March 2010)

62 Oman $13,345 (Source: World Bank; Data updated: April 2010)

63 Pakistan $12,385 (Source: World Bank; Data updated: April 2010)

64 Jordan $11,826 (Source: IMF; Data updated: January 2012)

65 Belarus $11,639 (Source: IMF; Data updated: March 2012)

66 Finland $11,120 (Source: IMF; Data updated: February 2012)

67 Uruguay $10,600 (Source: IMF; Data updated: January 2012)

68 Bangladesh $10,473 (Source: World Bank; Data updated: April 2010)

69 Trinidad and Tobago $9,281 (Source: World Bank; Data updated: January 2010)

70 Greece $8,817 (Source: IMF; Data updated: February 2012)

71 Botswana $8,679 (Source: World Bank; Data updated: February 2010)

72 Lithuania $8,124 (Source: IMF; Data updated: March 2012)

73 Latvia $7,974 (Source: IMF; Data updated: March 2012)

74 Iceland $7,764 (Source: IMF; Data updated: March 2012)

75 Bolivia $7,376 (Source: World Bank; Data updated: April 2010)

76 Tunisia $7,366 (Source: IMF; Data updated: February 2012)

77 Yemen, Rep. $6,936 (Source: World Bank; Data updated: September 2009)

78 Guatemala $6,123 (Source: IMF; Data updated: February 2012)

79 Azerbaijan $6,083 (Source: World Bank; Data updated: April 2010)

80 Ireland $5,585 (Source: IMF; Data updated: February 2012)

81 Luxembourg $5,089 (Source: IMF; Data updated: February 2012)

82 Costa Rica $4,708 (Source: IMF; Data updated: February 2012)

83 Sri Lanka $4,558 (Source: World Bank; Data updated: March 2010)

84 Paraguay $3,837 (Source: World Bank; Data updated: April 2010)

85 Congo, Rep. $3,806 (Source: World Bank; Data updated: December 2009)

86 Kenya $3,722 (Source: World Bank; Data updated: February 2010)

87 Cameroon $3,676 (Source: World Bank; Data updated: December 2009)

88 Tanzania $3,470 (Source: World Bank; Data updated: December 2009)

89 Ecuador $3,326 (Source: World Bank; Data updated: April 2010)

90 Cote d'Ivoire $3,304 (Source: World Bank; Data updated: January 2010)

91 Equatorial Guinea $3,252 (Source: World Bank; Data updated: December 2009)

92 Cambodia $2,994 (Source: World Bank; Data updated: March 2010)

93 Honduras $2,986 (Source: IMF; Data updated: February 2012)

94 Uganda $2,953 (Source: World Bank; Data updated: February 2010)

95 Mauritius $2,829 (Source: IMF; Data updated: February 2012)

96 Georgia $2,817 (Source: IMF; Data updated: March 2012)

97 Panama $2,803 (Source: World Bank; Data updated: February 2010)

98 Bosnia and Herzegovina $2,796 (Source: World Bank; Data updated: February 2010)

99 Slovak Republic $2,747 (Source: IMF; Data updated: February 2012)

100 El Salvador $2,619 (Source: IMF; Data updated

http://www.gfmag.com/tools/global-database/economic-data/11859-international-reserves-by-country.html#axzz2JwWRUymW

Edited February 4, 2013 by SocalDinar

[cooked]

Wow, Zig and Yota on the same thread. I haven't seen this for a while. This my friends is a sign. Good things are coming. Thanks K-man, Zig, Yota, and all of our wonderful news hounds. You know we really do appreciate you.