Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

CBI: Deletion of the zeros defered indefinately.


Recommended Posts

Central bank: the project raise zeros from the currency is still deferred
03-07-2013 07:34 PM
 

 

Karbala (news) said the Central Bank of Iraq, that the project raise zeros from the currency is still postponed until further notice, indicating that the Bank's gold reserves has not been affected by changes in the global market. 

The central bank governor said Abdul Basit Turki told a news conference Wednesday afternoon on the sidelines of his visit to the city of Karbala for the opening of Dar financial control, which was attended by the Agency (news): The project raise zeros from the currency project is delayed due to the conditions experienced by the country, noting : The bank is still studying with experts and specialists how to change the currency but its implementation depends on the situation experienced by Iraq and this deferred offline. 

Turki confirmed: that the bank reserves of gold is not affected by changes in the global market due to the financial plan developed by the bank a few months ago to avoid such a disaster, noting that the gold reserves in the Central Bank would be a big supporter of the Iraqi currency at any time, anywhere. 

It is noteworthy that some economists believe that Iraq is not ready at the present time to delete the zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability. / End / 11. O. P /

 

http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http://www.ikhnews.com/index.php%3Fpage%3Darticle%26id%3D90436

 

Until further notice could mean tomorrow. 

Thanks 

Luigi1
  • Upvote 1
Link to post
Share on other sites

Central bank: the project raise zeros from the currency is still deferred

03-07-2013 07:34 PM

 

 

Karbala (news) said the Central Bank of Iraq, that the project raise zeros from the currency is still postponed until further notice, indicating that the Bank's gold reserves has not been affected by changes in the global market. The central bank governor said Abdul Basit Turki told a news conference Wednesday afternoon on the sidelines of his visit to the city of Karbala for the opening of Dar financial control, which was attended by the Agency (news): The project raise zeros from the currency project is delayed due to the conditions experienced by the country, noting : The bank is still studying with experts and specialists how to change the currency but its implementation depends on the situation experienced by Iraq and this deferred offline. Turki confirmed: that the bank reserves of gold is not affected by changes in the global market due to the financial plan developed by the bank a few months ago to avoid such a disaster, noting that the gold reserves in the Central Bank would be a big supporter of the Iraqi currency at any time, anywhere. It is noteworthy that some economists believe that Iraq is not ready at the present time to delete the zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability. / End / 11. O. P /

 

http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http://www.ikhnews.com/index.php%3Fpage%3Darticle%26id%3D90436

 

Until further notice could mean tomorrow. 

Thanks 

Luigi1

Until further notice is vague just like in coming days.

They like to usemthat terminology loosly.

  • Upvote 2
  • Downvote 1
Link to post
Share on other sites

Same ole same ole

It looks like Maliki is up to his old tricks again. He once again took off for Russia to do a arms deal again. This has not been cleared through GOI. He also claims not to know where Billions of USD went.

  • Upvote 2
  • Downvote 1
Link to post
Share on other sites

I think that whats really going on is beyond our speculation.

 

They know exactly what they're doing.

 

We on the other hand are going crazy trying to second guess what that will be.  :twocents:

 

So all I can say is..........any moment now............ :partyhat:

Several Gurus claim it RVed in Iraq and smart cards are loaded. Nobody can confirm one way or another. The Gurus make all these claims then can not back up nothing.

  • Upvote 2
  • Downvote 1
Link to post
Share on other sites

Luigi.....deleting the zeros is NOT a RV.......

We dont want them to delete the zeros.....this is good that they are postponing it......

Good point. Could a delete posibly be in the works?

CBI claims not to have the lower denoms and coins ready any time soon.

Could be smoke to get people to turn in their high denoms ASAP.

  • Upvote 1
Link to post
Share on other sites

People we don't want them to delete the zeros...this is good news.....don't listen to the so called gurus ......deleting the zeros is closer to a lop than you've been told...continued deferring of deleting the zeros in light of the chapter 7 release is closer to an RV!!!!!!

Edavis

  • Upvote 1
Link to post
Share on other sites

I really don't think it's going to matter...because initially the will float the rate up then drop the 0's which will be good for us.  We actually get a return on our money.  I just don't know about this 3.00 rate...maybe if you wait 5 years for it to eventually get there (maybe less depending on velocity)...but would you really be willing to take that chance if a RD might be in the future?  I'd take the buck any day!  I think they'll RD after they get on a float



We don't want them dropping the 0's off of the currency now...that would give us like a 3x gain...which sucks if you think of the time invested.  Start with a float up first, then 2 years down the line hit an RD

  • Upvote 1
Link to post
Share on other sites

For the last 3 years the CBI has always stated deleting the zeroes from the currency. They have never mentioned removing zeroes from the rate.

So we have more time now to see the value increase.

Well they have mentioned that deleting the zeros will put the dinar on par with the USD.....and have said it would lead to a stronger dinar.....

 

Cause if they do delete the zeros, the NEW currency would def be on par with the dollar.....we would get stuck at the current rate unfortunately.....

  • Upvote 2
  • Downvote 2
Link to post
Share on other sites

Deleting the zeros is something that has been spun by the Gurus to be a good thing, when in fact it is the worst possible thing that could happen to anyone who is holding Dinar. The very fact that most investors don’t speak Arabic and can only go with a confusing English translation or just accept what they are been told as the truth makes it very easy for them to do this. The CBI has explained this in such basic terms that a first grader should be able to understand it. The problem lies in the fact that their explanation is not what we want to hear, so many people just accept the Guru interpretation. It makes them feel better about their investment. When anyone goes against the popular belief, they are berated by most of the forum or cast into the dungeon called the “Lopster Tank”. Almost every article written about the “three zeros” uses one of two verbs; 1. Mahha which means to delete, change, correct, or edit. 2. Mahhaqa which is a variation of the same word but is more commonly translated as erase or cancel. Neither of these words can be used to mean remove as in remove from circulation. If this was what they meant they would have used either jala or naqala. Early on, when I started seeing all these different versions of what everybody thought it meant, I asked one of my interpreters about it and he laughed at me. He asked me to show him $100.00. I gave him a 100 and he drew a line though the zeros and handed it back to me. He laughed and said “now you have one dollar” That was as simple an explanation as you can get. If you disagree or doubt that this is what it means, the solution is simple. Print one of the articles out in its original form and take it to any 7-11 or motel 6 and ask the clerk to read it and tell you what it means.

 

Roadrunner

  • Upvote 3
Link to post
Share on other sites
Guest
This topic is now closed to further replies.
  • Recently Browsing   0 members

    No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.