Cabinet Secretariat: Government seeks to have the exchange rate 1,000 dinars to the dollar

[ddyal]

In the body of the article it says:

"The Cabinet decided in its meeting held on 10 April, wait in the application deleting zeros from the local currency to further notice."

This is an old article.

[Uncle Barkie]

The problem I have with this article( and thank you for finding it) is that they refer to their decision they came up with in their meeting held on April 10th .... this is an old article that the news agency has rehashed/ re-released... Thanks again for finding it thiough and stay positive and keep on hunting. Uncle Barkie

[ddyal]

If my math isn't messed up then:

If the average auction sold 200 million dollars at 1166 dinar to 1 dollar then each auction would take in a little over 233 billion dinar.

If they didn't re-circulate the dinar then to take 30 trillion dinar off of the street it would take about 129 days.

If they have 20 auctions a month then it would take 6 1/2 months to take 30 trillion dinar off the streets.

How long have the auctions been going on?

[boomer113189]

This artical is brand new there are talking about the first time they halted plans on removing the zeros was april 10th of last year My link

[keepmwlknfny]

If my math isn't messed up then:

If the average auction sold 200 million dollars at 1166 dinar to 1 dollar then each auction would take in a little over 233 billion dinar.

If they didn't re-circulate the dinar then to take 30 trillion dinar off of the street it would take about 129 days.

If they have 20 auctions a month then it would take 6 1/2 months to take 30 trillion dinar off the streets.

How long have the auctions been going on?

Since about 2004......

[JWJW11]

the dinar has to be 1 or above to make this a good investment not even close to that if they keep going at this rate

Man dont be greedy.....10 cents would be real nice!

[boomer113189]

when i posted the 1 i mint 1 cents or

[Shelley]

Man dont be greedy.....10 cents would be real nice!

You been awfully posty lately But I do agree with you..... I just want them to do something already !!!!

[ddyal]

Since about 2004......

So they could have taken whatever they wanted off the streets.

[LIBoy]

This is a whole lot of misleading info purposely being released by the Iraqi media! They have not invested this much time to come out at 1000:1! Its amazing how much time has been put into this by the IMF, World Bank, BIS, United States Treasury, etc,etc,etc.....this is about money!! A whole lot of money!! We will see very soon! God Bless!

Completely agree. The one thing I have been told since the beginning of this journey was that just prior to the RV, there would be a blizzard of misinformation and propaganda coming out of Iraq. Anyone smell that? Smells like snow and a lot of it!

[JWJW11]

You been awfully posty lately :lol:/> But I do agree with you..... I just want them to do something already !!!!

Lol....yes I know....just thinking we really might be close to seeing something happen!

That February 23rd date is pretty interesting:)

[boomer113189]

Completely agree. The one thing I have been told since the beginning of this journey was that just prior to the RV, there would be a blizzard of misinformation and propaganda coming out of Iraq. Anyone smell that? Smells like snow and a lot of it!

LOL whoever told you that sounds like they want you to keep buying dinar are be apart of there group or programe

[JWJW11]

So they could have taken whatever they wanted off the streets.

Absolutely....their were articles back sometime ago that described the process......but that was when the lopsters were hittin hard so it was just dismissed as the arguing can get pretty intense around here lol......

But yes absolutely they could have been removing dinar all along.....youd have to think they have with the country operating on the dollar......the ridiculous numbers they throw out like 30trillion in circulation is crazy....where is it all? There cant be that many mattresses in Iraq.

[boomer113189]

i have never even deen an artical that says there pulling out dinar from circulation has anyone else ? if so hit me with the link

[JWJW11]

i have never even deen an artical that says there pulling out dinar from circulation has anyone else ? if so hit me with the link

For one the dont talk like that.....I wanna say may maybe August to October maybe of 2011....little bit longer than youve been here....but its there....just look for it.

when i posted the 1 i mint 1 cents or

Lol my bad....sorry about that

[sxsess]

You are correct. This is what happens when countries stabilize and after experiencing high or even hyper-inflation due to excessive printing and spending. It is more like a "reset" button once things stabilize again.

Mexico did this in 1993, now they are booming (1000:1 RD)

Argentina in 1985 (1,000:1 RD)

Bolivia in 1987 (1,000,000:1 RD)

Georgia in 1995 (1,000,000:1 RD)

Germany in 1923 (1,000,000,000,000:1 RD)

There are tons and tons of other examples but I'm not going to list them all as it is unnecessary.

I am thinking that the managed float will start up again later this month and the IQD exchange rate will increase slowly (2-5 dinars per day) until it reaches 1000.

What they do from there is anybody's guess...and I don't want to be the one to mention the word as last time it put me in the lopster tank for a few days! :D/>/>/>

Good post 20M. Thanks for bringing that over. I don't see how a lop would help anything. I see them just increasing the value and recalling the larger bills on a timetable. We will see.

[JWJW11]

Alright I gotta get outta here......but think about it people.....Iraq talked about a supposed lop/rd for years.....then they suddenly can the idea and run Shabs off....so they say. Now we are talking about 1000 to 1 and a float....comon already this thing will end just like its supposed to be. The PTB are much stronger than you think.

Take a look at that azz in Alabama who thought he had it all figured out.....turns out there was someone a lot smarter than him and took his sorry azz out......point being....something like this is far bigger than even us smart ones can put together especially when the info is bull spat! Lol

Ok any other questions just ask dontlop....hes definitely got it figured out

[R Veyron]

Good post 20M. Thanks for bringing that over. I don't see how a lop would help anything. I see them just increasing the value and recalling the larger bills on a timetable. We will see.

And I agree with you. There also have been a few past articles that did state that theywould give a two year period to call in larger bills but it is very much an unknown as to when this will begin.

[LIBoy]

LOL whoever told you that sounds like they want you to keep buying dinar are be apart of there group or programe

I was told that by the man who started the Spelling Made Simple program for adults. You should call him sometime.

[boomer113189]

i do bealive this is a real investment but the RV and a huge amount back is all made up. if people have to constintly lie about the dinar something is very wrong

[sxsess]

the dinar has to be 1 or above to make this a good investment not even close to that if they keep going at this rate

It's a good investment with any increase of value, but $1 would be a windfall!

[boomer113189]

i didn't mean to say investment i mint speculation

[JWJW11]

i do bealive this is a real investment but the RV and a huge amount back is all made up. if people have to constintly lie about the dinar something is very wrong

You should really do some homework...and stop typing till then. I gave you some info last night. Use it. Your not really making any sense

[yota691]

IRAQI CABINET RULES OUT REPLACING OR OMITTING ZEROS FROM IRAQI CURRENCY

Iraq, February 5, 2013

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.

[keepmwlknfny]

So they could have taken whatever they wanted off the streets.

The auctions are not used for that purpose......its for banks to keep a continuous supply of USD and dinar when.needed......