Iraqi Cabinet rules out replacing or omitting zeros from Iraqi currency

[TQueezy]

Socal, not to split hairs, but I didn't see Iraq on that list..

[truepatriot]

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.

The problem is that you assume far too much that the people in charge play by the rules.

1: We get our money supply numbers and other data from the iraqi media and govt,which as others have pointed out are chronic liars and all over the board report wise.

2: The value of fiat money is whatever those in charge decide it will be.In these wild days where the US continues to wildly print when they 'owe' over 16 trillion in debt the assertion that everything must be backed is just silly

3: Your premise only works when those in charge actually give a damn about the growth of a nation and it's citizenry.Iraq was a mere cash cow that the elites determined to take over and rape clean of their resources from the very beginning.The stability of Iraq and the middle east will not be happening,especially when the collapse of the world economies and war is exactly what the elites are shooting for.Now the antichrist will eventually bring a short lived false peace to the region.But by that time there will be an entirely new financial system in place after this old one collapsed

Edited February 4, 2013 by truepatriot

[JayLee202]

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

lol come on now! Don't insult the person. I agree though, this does sound good.

[fox]

Ouch. The US is # 19 after Mexico? That is pretty surprising.

[JWJW11]

Your problem is that you assume far too much that the people in charge play by the rules.

1: We get our money supply numbers and other data from the iraqi media and govt,which as others have pointed out are chronic liars and all over the board report wise.

2: The value of fiat money is whatever those in charge decide it will be.In these wild days where the US continues to wildly print when they 'owe' over 16 trillion in debt the assertion that everything must be backed is just silly

3: Your premise only works when those in charge actually give a damn about the growth of a nation and it's citizenry.Iraq was a mere cash cow that the elites determined to take over and rape clean of their resources from the very beginning.The stability of Iraq and the middle east will not be happening,especially when the collapse of the world economies and war is exactly what the elites are shooting for.Now the antichrist will eventually bring a short lived false peace to the region.But by that time there will be an entirely new financial system in place after this old one collapsed

Well said....to many like to asdu me Iraq is just some random country trying to establish themselves in the world.....so far from the truth.....Iraq was hand picked for this game. The PTB know most will just go with flow and and believe what they are told through these silly articles.

As ive posted many times this is a lot bigger than we can even imagine

[SocalDinar]

Socal, not to split hairs, but I didn't see Iraq on that list..

Right but we know their Foreign reserves are 67 Billion .

[JWJW11]

lol come on now! Don't insult the person. I agree though, this does sound good.

Lol your right my appologies.....this is just one of those reincarnated lopsters....my bad

[RVPleaseToday]

Well, I'll step away from the discussion here. There is no debating with a conspiracy theory. They are, by nature, not disprovable because they are invisible.

[VIZIOIRAQI]

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...45/BrettonWoods

Yes he did that and then made the Biggest Mistake in U.S. History and sold all our Gold Reserves. We are paying for it Dearly now!

[TQueezy]

Right but we know their Foreign reserves are 67 Billion .

Oh, I see, reserves of $67billion USD worth. So, up there with the big boys as far as currency reserves. Certainly fits the "industrialized" bill by that definition.

[Roadrunner]

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.

Zig,

Don't know why you got negged for this. I evened it out for you.

Roadrunner

[zul]

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%

But......

[unirod]

The problem is that you assume far too much that the people in charge play by the rules.

1: We get our money supply numbers and other data from the iraqi media and govt,which as others have pointed out are chronic liars and all over the board report wise.

2: The value of fiat money is whatever those in charge decide it will be.In these wild days where the US continues to wildly print when they 'owe' over 16 trillion in debt the assertion that everything must be backed is just silly

3: Your premise only works when those in charge actually give a damn about the growth of a nation and it's citizenry.Iraq was a mere cash cow that the elites determined to take over and rape clean of their resources from the very beginning.The stability of Iraq and the middle east will not be happening,especially when the collapse of the world economies and war is exactly what the elites are shooting for.Now the antichrist will eventually bring a short lived false peace to the region.But by that time there will be an entirely new financial system in place after this old one collapsed

Truepatriot,

I have to agree with your #2 opinion. Your spot on! IMO

[Butifldrm]

I'm wondering what's going on here. We know from from recent news, that Iraq's/CBI reserves are over 70B. The articles coming out today have reserves at 65B. This is not the firdt time, there has been talk to increase the value of the IQD to 1000:1.

Excluding the cancellation of three zeros from the currency

4.2.2013 | (Voice of Iraq) - Add a comment -

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. said Secretary General of the Council of Ministers Ali Mohsen Ismail Center Brief for the Iraqi Media Network that the project replace currency and the abolition of three zeros discussed during the last term in the House Ministers and the Council stressed that this project is not a priority for the government at the moment there is no real problem in this area. Noting there that replacement currency itself requires a large adjustments, as there are still issues with this side after the fall of the dictatorial regime, where the block currency in circulation is limited, but it has doubled now than it was at the time, hence the process of withdrawing this block is a difficult task and a large and stressed that some have the impression sinner E implies that the deletion of zeros will reduce the size of the money in circulation Kkamih, and fact that he does not diminish even 1% and although the government believes that the change of currency is a good thing in the case of appropriate conditions for its application, but does not give him a priority, but when there are conditions stable and pointed Secretary-General that the Iraqi dinar candidate because rising price against the dollar, and there is economic and financial viability enables dinar be stronger than it is now, and the chances of higher value available, especially with the growing backlog in the central bank, which exceeded $ 65 billion and rising steadily along with high economic growth in Iraq. He is now one of the most developed countries in the world thanks to the expansion of oil production. He said the ingredient objectivity and economic available in the direction of the high exchange rate of the dinar against the dollar, noting that the government is seeking to have that exchange rate 1000 dinars to the dollar in the sense that the price of the currency class hundred dollars a hundred thousand Iraqi dinars and that any improvement in the political situation could contributes to this matter faster.

Read more: http://www.sotaliraq.com/mobile-news.php?id=87327#ixzz2JwkbjzFk

CBI Expects 9% Growth, Reserves of $105-$110bn

Posted on 15 January 2013. Tags: Central Bank, gdp, Growth

By John Lee.

The Acting Central Bank Governor, Abdul-Basit Turki, has told Reuters that Iraq’s economy should grow 9 percent this year, as it increases its oil production.

He also predicted international currency reserves of between $105 billion and $110 billion by the end of this year.

Central Bank predictions for last year were for growth of around 10 percent, and reserves at the end of December of around $70 billion.

http://www.iraq-businessnews.com/2013/01/15/cbi-expects-9-growth-reserves-of-105-110bn/comment-page-1/

[zigmeister]

Thanks Roadrunner I appreciate it! Hey cooked thanks! Butifdream, it is hard to say what is going on. This was my point above, going by their articles is pretty much a brain drain, all we have go by is the action they take.

[TLHUBER]

The crap you gotta read and put up with to make some money ( hopefully). Sheesh.

[keepmwlknfny]

sounds good to me.....rule out a lop all you want!!!!

[Mikesgreen]

Time to wake up people. If this was smoke n mirrors they wouldn't say anything at all about increasing value. Time to realize that there's no pot of gold

[SPOTLIGHT]

Anyone seen the Movie "Mo Money".

[Goldiegirl]

They sure do like to "pump" out these currency articles don't they??? I've never seen a country talk so much about their currency in the news, not to mention the numbers are all over the place.

Makes you wonder who they are printing it for and why???

Thanks for the post.

[moneysoon]

They sure do like to "pump" out these currency articles don't they??? I've never seen a country talk so much about their currency in the news, not to mention the numbers are all over the place.

Makes you wonder who they are printing it for and why???

Thanks for the post.

My sentiments exactly, No one does this as a PSA. This is by design for coverup puposes.

[Goldiegirl]

My sentiments exactly, No one does this as a PSA. This is by design for coverup puposes.

Well that gives me warm fuzzies they do this. Means they are covering it up because we know darn well, they are NOT going to announce a change in their exchange rate in the papers.

You know that saying...."where's there's smoke there's fire".

[keepmwlknfny]

My sentiments exactly, No one does this as a PSA. This is by design for coverup puposes.

Sure they do......if you do a quick search in google you can find multiple articles and such from many countries announcing redenominations or plans to do so.....nothing uncommon.....

[gregp]

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

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.

Edited February 4, 2013 by gregp

[BKD]

Things are getting more exciting with

each post. Hopefully we will see something soon. Go RV!!!!!!!