Parliamentary Finance: Central Bank starts during the current year measures the deletion of zeros from currency

[Tripphood]

There's so much historical precedence for a LOP not a RV.  And I am not a lopster.  And someone comes in here and says "Iraq is a different story.  Dropping the zeroes has a different meaning here."  I fail to see why.

All that I meant was they've used the term lifting zeros in 2 different ways.......lifting zeros- removing 3 zero notes and lifting zeros- actually remving zeros from the currency. I've seen these used in different articles. That is all I meant,

And yes Iraq is not Nigeria.

Considering the other statements and Iraqi TV reports from the CBI a few weeks ago referencing a major increase in value of the IQD, this article is all about removing the large notes out of circulation. This can only happen post RV because with out it, they would still need to carry either USD or a ton of low denom IQD. I see this similar to the US removing the 10,000 dollar bill. This is also why, IMO the CBI has been pulling in the large IQD notes in country and pushing the use of USD... in preparation for an RV and introduction of the LDs.

At least that's what I WANT to believe.

Exactly, that is what I tried to explain earlier. They are dollarizing, pulling in the large notes. I believe as you that they are preparing for a rise in value. +1 for you.

Tripphood,

 

The way i see it....remove the zeros refers to new currency minus the 3 zeros. The cost of the process #150 million dollar ~ is basically the cost of printing new currency.

 

 

Sunday, March 25, 2012[/size]BAGHDAD – Naseer GoldfinchOfficial sources in the Iraqi Central Bank to the project to delete three zeros from the Iraqi dinar actually began, and that the process will cost the budget 172 billion dinars (150 million dollars). She explained that the budget next year will be the new dinar, which will serve the Central Bank to gradually raise its value against the dollar and equal access to price, any dinars per dollar.[/size]

Thanks Zul, see it says, " gradually raise its value against the dollar and equal access to price" , there has been more that one of these types of articles lately. I believe because of articles as of late, that they have changed their original plan of an actual straight up RV of 1:1. I will take a gradual rise in the value, in the long run it could actually work out better especially if they allow the new and the old currency to be used for up to two years, which they have also stated.

[sandstorm]

the problem is boomer i have seen your posts and you post only articles showing either negative effects in their economy or Deleting zeroes its really NOT that hard to point out the obvious here.  Either you have an agenda here because lets face it your under a different alias.  I find it very ironic once a deletion of zeroes article surfaces which we know most are recycled anyhow its like sharks circling in a lake around a fresh school of fish.  I ve noticed it for some time now you are very one sided in this investment i mean look at your comments "Its an RD" this is a "lottery ticket"" ive sold most of my dinar" i mean whats ur real agenda here? why share that? it seems you are trying to get people to sell their dinar just like many accused of people pumping dinar.  I dont know about you but im here and in this investment to make money NOT to lose. Now we dont have the ultimate control over what the CBI will do but all, u have post are articcles to bring up the LOP theory give it a rest already.  If u think youll lose out why even be here?

 

P.S I have never seen you comment on positive developments in Iraq.

Easyrider, thats all ridiculous.  The "only" reason its being talked about.......is because its in the article. geez

digital banking is  what the cbi is pushing .. they only want to carry around 30 billion in actual dinars in phisical currency ..

around 1 billion notes .. not 30 billion total money supply ..

i heard they may even be making 200 dinar notes  as well as 100 .. 50 .. 20 .. 10 ..5 .. notes and  coins

 govt wants to pay its salarys in smart cards .. to free up liquidity

i think its pretty clear a total of 4 billlion notes. its not the denomination. imo counting 2- 25k notes as 2, and not 50k.

4 billion notes= 30 trillion dinar

Edited April 14, 2013 by sandstorm

[Tripphood]

Ditto dontlop.  I believe this is exactly their intention.

Oops , I think I accidentally touched the neg button while scrolling up and down. Sorry zig. Someone please even that out.

[zigmeister]

Oops , I think I accidentally touched the neg button while scrolling up and down. Sorry zig. Someone please even that out.

Thats cool, it is fixed!

[TQueezy]

Why don't we all dress in opposing uniforms, take up bayonets, and meet in a big wide open field and have a proper bloodbath battle. LOPsters vs RVers, eh?

RVers choose Markinsa as our commanding general!

[easyrider]

Easyrider, thats all ridiculous.  The "only" reason its being talked about.......is because its in the article. geez

i think its pretty clear a total of 4 billlion notes. its not the denomination. imo counting 2- 25k notes as 2, and not 50k.

4 billion notes= 30 trillion dinar

ok sandstorm well direct me to one of his posts where he comments on anything else? you cant. I am just pointing out the obvious dont be upset.

[C.H.]

What-ever currency policy they decide to implement you can bet it is going to be met with even more delay, corruption, and political disagreements, the real people all this effects the most are the Iraqi citizens themselves who deserve better.  Biblical facts state "currency is the rude of all evil." 

[Markinsa]

What-ever currency policy they decide to implement you can bet it is going to be met with even more delay, corruption, and political disagreements, the real people all this effects the most are the Iraqi citizens themselves who deserve better.  Biblical facts state "currency is the rude of all evil." 

 

1 Timothy 6:9-10

New Living Translation (NLT)

⁹ But people who long to be rich fall into temptation and are trapped by many foolish and harmful desires that plunge them into ruin and destruction. ¹⁰ For the love of money is the root of all kinds of evil. And some people, craving money, have wandered from the true faith and pierced themselves with many sorrows.

 

-

[C.H.]

 

1 Timothy 6:9-10

New Living Translation (NLT)

⁹ But people who long to be rich fall into temptation and are trapped by many foolish and harmful desires that plunge them into ruin and destruction. ¹⁰ For the love of money is the root of all kinds of evil. And some people, craving money, have wandered from the true faith and pierced themselves with many sorrows.

 

-

 

 

Markinsa thanks for the clarification, God Bless. 

[RVPleaseToday]

There are two components to a significant RV for Iraq. One is that Iraq declare an RV. The second is that the rest of the world recognize it. The CBI can add value to their currency out of thin air. They cannot make dollars out of thin air to exchange those dinar for. Iraq controls only half of the equation. The question, then, isn't really if Iraq can declare the Dinar worth the same amount as the dollar, for example; the question is if the U.S. (or anyone)  would give them a dollar for each dinar.

 

We have to ask, then, how it would benefit the U.S. to do that. Anyone have a theory about that?

[greeneyedlady]

There are two components to a significant RV for Iraq. One is that Iraq declare an RV. The second is that the rest of the world recognize it. The CBI can add value to their currency out of thin air. They cannot make dollars out of thin air to exchange those dinar for. Iraq controls only half of the equation. The question, then, isn't really if Iraq can declare the Dinar worth the same amount as the dollar, for example; the question is if the U.S. (or anyone)  would give them a dollar for each dinar.

 

We have to ask, then, how it would benefit the U.S. to do that. Anyone have a theory about that?

 

Why not, we are giving them dollars for oil....we aren't giving them dinars for oil....who is benefitting there?

 

Do you think all these other countries entering into Iraq to do business with them are paying in dinar? No, they are paying Iraq with their currency. Who is that benefitting there?

 

I'd say Iraq is benefitting, they are collecting currency worth way more than theirs..so when the ball drops, they can have more buying power for imports.

 

Every country has foreign currency reserves..it benefits everyone and the IMF is happy.

 

I could be wrong, but this is my opinion.

[keepmwlknfny]

If these articles cant be discussed for what they are, then no one should be allowed to post these articles.....or you only post them in the lopster forum where they belong. That way no one gets upset for discussing the reality of the situation and what we COULD be facing.

[fib1618]

If these articles cant be discussed for what they are, then no one should be allowed to post these articles.....or you only post them in the lopster forum where they belong. That way no one gets upset for discussing the reality of the situation and what we COULD be facing.

+1

[SPRAYERDUDE]

Without chapter VII release this is putting the cart before the horse. An internationally recognized currency and Iraq's quest to be a full W.T.O. member means: Following rules, my opinion is even with the trillions of dinar in circulation, and putting an end to the DIRTY FLOAT, it would no doubt show the countries Real Value for the Dinar being greater than .0009

[blueskyline]

I remember some articles of Iraq purchasing incinerators for their banks for the purpose of burning currency . One of the articles even showed a completely installed incinerator in the basement of one of those banks .My point is there is no proof they have been burning currency. There is no proof they have not been burning currency.We do have proof that incinerators are inside of iraq banks . We do have proof that they are circulating torn, tattered , glued together dinar. And we do have proof of multiple articles stating fires at different banks with the burning of sensitive documents .We dont know what documents . Are there really 30 million notes in circulation ? 

30 trillion *

[keepmwlknfny]

I remember some articles of Iraq purchasing incinerators for their banks for the purpose of burning currency . One of the articles even showed a completely installed incinerator in the basement of one of those banks .My point is there is no proof they have been burning currency. There is no proof they have not been burning currency.We do have proof that incinerators are inside of iraq banks . We do have proof that they are circulating torn, tattered , glued together dinar. And we do have proof of multiple articles stating fires at different banks with the burning of sensitive documents .We dont know what documents . Are there really 30 million notes in circulation ? 

According to the CBI and the numerous outside international accounting agencies, there is more then 30 trillion dinar in circulation. I would think that if there wasnt as much in circulation, then the dinar would have a higher value then what it carries currently.

[RVPleaseToday]

"Why not, we are giving them dollars for oil....we aren't giving them dinars for oil....who is benefitting there?"

 

Well, after a 1:1 RV their booty would be worth $30 trillion. Would the U.S. give them a $30 trillion line of credit?

[greeneyedlady]

"Why not, we are giving them dollars for oil....we aren't giving them dinars for oil....who is benefitting there?"

 

Well, after a 1:1 RV their booty would be worth $30 trillion. Would the U.S. give them a $30 trillion line of credit?

 

'We' do not give 'credit' on oil. How else do you think they got their usd? Made them?

 

And who said anything about a line of credit?

[RVPleaseToday]

The only place they are going to get $30 trillion dollars to back their currency is from the U.S.

[greeneyedlady]

According to the CBI and the numerous outside international accounting agencies, there is more then 30 trillion dinar in circulation. I would think that if there wasnt as much in circulation, then the dinar would have a higher value then what it carries currently.

 

That's the whole point, NO ONE KNOWS REALLY how much dinar is in circulation.

[blueskyline]

According to the CBI and the numerous outside international accounting agencies, there is more then 30 trillion dinar in circulation. I would think that if there wasnt as much in circulation, then the dinar would have a higher value then what it carries currently.

Thoughts about articles are all we have . No one knows for absolutely sure .The CBI has released information along with others on what they say is in circulation . And they have also released information ( and released pictures) on the purchase of incinerators to burn currency. No one knows for sure

[RVPleaseToday]

And the U.S. imports half as much oil from Iraq now as it did in 2001.

So I can't figure what the U.S. stands to gain from an Iraqi RV.

[Markinsa]

And the U.S. imports half as much oil from Iraq now as it did in 2001.

So I can't figure what the U.S. stands to gain from an Iraqi RV.

 

I personally know of a  >$1 Mil gain that would happen in the US...

 

-

[RVPleaseToday]

Exactly! We, the speculators, are the only ones who benefit from an Iraqi RV. (Not that I would turn it down!)

[keepmwlknfny]

That's the whole point, NO ONE KNOWS REALLY how much dinar is in circulation.

How so?  You dont think the CBI knows how much currency it has issued?

 

Have you not seen the financial statements posted on the CBIs website from these auditing agencies?

Thoughts about articles are all we have . No one knows for absolutely sure .The CBI has released information along with others on what they say is in circulation . And they have also released information ( and released pictures) on the purchase of incinerators to burn currency. No one knows for sure

See the above response....