Economic parliamentary calls for the central bank need to delete the zeros

[waterman13]

I don't think anyone in the media or the parliament there has a real clue of what the CBI plans to do.

JUST DO IT!

WM13

[hame55]

When?

You know, every time I see piles of cash dinars in articles I cannot help but think it has to LOP

With all that cash SUPPOSEDLY in circulation, it would have to...unless it's not really out there...LOL

[DropItLikeItsHot]

Just do something.

I'm with you on this one, been a long ride.... get it over whatever the outcome!

 

DropItLikeItsHot  GO RV

[Pat H]

Well, the real change I see here is that the political support for revaluation is growing. The politicians are starting to demand it, where they used to fear it. GO RV!!

[InItSince05]

COME ON SO I CAN GO HOME

I hear you man!!!    Until then,  stay safe, and thanks for what you do!!

[zigmeister]

I hate these articles.

[yota691]

Economic Commission: the deletion of zeros from the currency and restructuring is the need to support the country's economic identity, especially after the end of Chapter VII 

 

  

  

{Baghdad: Euphrates News} parliamentary economic committee indicated that the deletion of zeros from the currency and restructuring is the need to support the country's economic identity, especially after the end of Chapter VII. 

 

Said a member of the Committee Mahma Khalil Abdul Hussein Abtan at a news conference عقداه in the parliament building and was attended by the correspondent of the agency {Euphrates News} we "in the Economic Commission parliamentary see that the time is right for the start of the project to delete the zeros from the currency and restructuring to support the identity of the country's economic and benefit the people." 

 

Where Khalil stressed that "after the withdrawal of Iraq from Chapter VII, there are great advantages stations and many promising in the country's economy to support economic and identity of the Iraqi dinar, and this case is purely economic aim of maintaining the Iraqi currency." 

 

Khalil called "the Iraqi Central Bank to begin a project to delete the zeros from the Iraqi currency and restructuring, explaining that this is an old project with the Central Bank has asked the government to wait in it until the appropriate time and today we see that the time has come to start this project." 

 

"Also, and that there is an item constitutionally clearly provides for the issuance of currency and categories of currency for the purpose of economic benefit of the people, and today the Economic Commission considers that the time is appropriate on the grounds that there are stations promising in the Iraqi economy to support the identity of the economic and the Iraqi dinar, indicating that the currency does not know of quotas and her promising future in the region. " 

 

He added that "in light of the country's large potential and promising economic stations, we hope that the next financial budget will be bigger." 

 

Committee member said parliamentary economic Mahma Khalil said "large current bloated currency to Atliq the country and there among the citizens intense desire to keep the Iraqi dinar to compete with the dollar and other currencies." 

 

As a member of the Economic Commission parliamentary bloc of the citizen Abdul-Hussein Abtan has said the "central bank announced a few days ago that the reserves of the country reached $ 76 billion and we have Iraqi dinars befitting the country and these deposits and the amounts van ordered the deletion of zeros and structuring currency has become an urgent necessity." 

 

He continued that "it is not reasonable to have reserves of Iraq has reached $ 76 billion and we still are dealing 1,300 dinars to the dollar, then what is the use of these funds and the money if it does not reflect positively on our citizens, where there is still unemployment rate of 7%, poverty over 20 % and the edge of the poverty line when more than 30%. " 

 

Abtan added, "We believe that the Iraqi dinar must improve against the dollar as it is not true that the reserves of the country today has reached $ 76 billion and the Iraqi dinar at 1280 for one Aldlar". 

 

"The improvement in the status of the Iraqi dinar is reflected on the lives of citizens and its purchasing power and all what exists in the country is imported goods, so when improving citizens' purchasing power will be reflected positively on his life and this is what we expect from the Central Bank of Iraq." (how many times we heard this)

 

He said the "multiplicity of revenue growth in the country is a modest and simple compared to the existing privileges and development of the Iraqi economy depends on the vision and management of the economic file better than the current situation." 

 

A member of the parliamentary economic committee Abdul Hussein Abtan that "Turkey and Lebanon were deleted zeros from their currencies, how Iraq who owns this great Alahitati has the argument of Chapter VII, and now has been completed and removed, what remains of zeros." 

 

Abtan and ended by saying that "increase the exchange rate of the Iraqi dinar against the dollar is very vital to the citizen, it is not enough that we have billions in deposits at the central bank against poverty and unemployment rate and weak purchasing power of the citizen." Ended 1

[saradise]

They just need to do something! Stop the teasing already...I'm on such an emotional roller coaster with this dinar, LOL. Go RV!!

[ronscarpa]

Thanks for all these great articles Yota .. Everyone knows they need to do it, and should do it quickly...IMO...!   

[R Veyron]

"the survival of its currency with so much and irregularly, as pointed out that the deletion process will increase the value of the Iraqi dinar and reduce unemployment and poverty."

Taking the zeros off their currency and leaving the value of the dinar as low as it is will not accomplish the above objective! BUT an RV would. Any thoughts?

I think that this has been the most debated point that I have seen in the past few years that I have been involved with this. This has been as well my biggest question too and the reason I originally got involved with buying into this investment. I just would not make sense to go to all the trouble to change their currency but keep the value low. This is what Im banking on and im sure everyone else too.

[RVIP]

just like Turkey???? argggggggggggggggggggggggggggh, Dont want to hear that!

[zigmeister]

I think that this has been the most debated point that I have seen in the past few years that I have been involved with this. This has been as well my biggest question too and the reason I originally got involved with buying into this investment. I just would not make sense to go to all the trouble to change their currency but keep the value low. This is what Im banking on and im sure everyone else too.

There are many advantages to keeping your exchange rate low.  Just look at China.

[rsskelton]

I hate these articles.

My thoughts exactly.

[TBomb]

Couple things to think about before we get "lopster-ized"..

 

Why would the people and "the economy" be calling for a LOP in their current, desperate situation?

 

And secondly, I've found Alsumaria, has often times put out "sensationalistic" articles, yes, sometimes they're spot on, but other times they're like the national enquirer of Iraq.  Just putting this out there.

 

We do need to be looking for what seems to be "LOP" articles from other, more credible sites and frankly, I don't have time today...have to work.

 

Hugs everyone.

[Alex38]

same ol' same ol'... the only thing different is that NOW they are out of Ch7.... but still on the merry-go-round....

[DetroitDinar]

Nice post Yota.

[Psych]

same ol' same ol'... the only thing different is that NOW they are out of Ch7.... but still on the merry-go-round....

Alex38...I totally agree.  It seems schizophrenic...or technically speaking...Iraq seems to be suffering from disassociative disorder.  I have read at least 100 different plans put forth by the CBI and the gov't in terms of the currency, with the common thread being that none of them have come to fruition.  The only thing we have been able to count on from Iraq's currency policy is status quo.  

[Amos9:13]

That's the reason why I think also they'll just use a float and let it rise...they can't ever get their ducks in a row. 

[thesjeske]

That's the reason why I think also they'll just use a float and let it rise...they can't ever get their ducks in a row. 

My thinking too

[10 YEARS LATER]

Delete the zero's , don't delete the zero's!! It's on it's off !! Gota love these guys ..

 Yep, these guys bring a whole new definition to mis [dis] information.

[IQD1217]

Lets just hope the pass the HCL first then we are really cooking!!

[10 YEARS LATER]

It is my ultimate hope, wish, desire, that this roller coaster ride comes to a swift and profitable conclusion - That we may all go " HOME " by July,2013 - Where ever That  home may be.

 

The Happiness and Joy you seek will be fulfilled & bring you prosperity and peace to you and all your loved ones.

 

As a professional soldier in the service of his country [ in or out of uniform - We are sworn to protect this country from ALL enemies Foreign &  Domestic ] I desire nothing more than to see my fellow Patriots TO  a Long And Successful Life. . . and to defend Our Life With my LAST BREATH.

 

C'MON IRAQI DINAR $