ECLAC: delete zeros from the currency and restructuring is necessary to support the country's economic identity, especially after chapter 7

[TotalNewb]

I don't want a lop either... But please explain how "deleting the zeros like Turkey" means something else?

[vomer]

 "an increase in the Iraqi dinar against the dollar is very vital to the citizen, which is not enough to have deposits of billions at the Central Bank against poverty and unemployment, weak purchasing power." 

 

Maybe this statement is our saving grace.
 

[hoosier1470]

How much clearer can this be? The process of lifting the zeros is simply pulling the large denomination notes and releasing new lowers...it states inn the article.."coins"!!! They are clearly saying ...hey!! We are rich...look at our reserves!! We don't need these big notes...we need our currency's exchange rate against the dollar increased...and lower notes and coins so the citizens can do business with our own money!! Not the dollar!! This is amazing news!!! And they continue to say it over and over again!! We are blessed already.. And many still don't see it!! Here it comes folks!! Get ready!! SUDDENLY!! God Bless!!

[Bored]

Don't you typically only lop when there is hyperinflation? Which is not the case in Iraq, only a under valued currency... Zig if they must exchange their big notes for little ones wouldn't that hint toward a "deletion" to our benefit? Like you said no one knows but if a currency that was once 3+ that turned worthless overnight due to sanctions, stands to reason that the opposite could happen as well.

[ezrapound]

Don't you typically only lop when there is hyperinflation? Which is not the case in Iraq, only a under valued currency... Zig if they must exchange their big notes for little ones wouldn't that hint toward a "deletion" to our benefit? Like you said no one knows but if a currency that was once 3+ that turned worthless overnight due to sanctions, stands to reason that the opposite could happen as well.

Yes it could. And it's going to.

[Routine]

Interesting enough as the Central Banks response to deletion of the zeros "At present we are not qualified to implement the project."

[IQD1217]

People need to do their homework , it's nothing like turkey .. Why is it so hard for people to understand !! Makes me crazy ..

[TotalNewb]

People need to do their homework , it's nothing like turkey .. Why is it so hard for people to understand !! Makes me crazy ..

That's not what Iraq is saying... They are saying delete the zeros like Turkey. Turkey lopped. What's so hard to understand? If they did not make that exact comparison then it could be open for speculation. Please tell me how deleting zeros like Turkey doesn't mean deleting zeros like Turkey. I really want this RV but this comparison just ruined my outlook today.

Edited July 6, 2013 by TotalNewb

[cooked]

I hope this just smoke trying to shake off the speculators. This to me clearly says lop. Maybe they are trying to keep people from buying up too much dinar. Not a good article for us if truly stated.

[IQD1217]

Quick question , with all the reserves , gold , oil etc is the dinar worth 1166 ? Of course not plus the DFI fund, GDP around 10% .. Oil production is booming !! And the currency is only worth 1166 it's not true !! They are just giving an example they are not saying Iraq is turkey which we know they are not!! ISX is booming , investments are flowing in.. Why would they tell you when and how much they will RV !! It's like insider trading if they told you where and when everyone would do it!! Everything is going to the plan they laid out you just have to let it play out!! If you can't handle it or think its not going to happen get out lol!!

[deniscanada]

1. necessary to support the country's economic identity, especially after the end of Chapter VII

 

2. Economic Committee feel that the time is appropriate to start deleting zeros from the currency and restructured to support the country's economic identity

 

3. Khalil called "Central Bank of Iraq to start deleting zeros of the Iraqi currency and restructured, adding that the project is an old Central Bank has demanded that the Government should wait until the appropriate time and today we see that the time has come to start this project."

 

"As there is a clear constitutional provision provides for the issuance of coins and currency for economic purpose and benefit of the people, and today the Commission considers that the time is appropriate, given that there are promising the Iraqi economy to support economic identity, Iraqi dinar, the currency did not know her and promising future quotas."

 

4. Economic Committee member Khalil mehma "current currency large bloated latlik of the country and the people a strong desire to keep the Iraqi dinar to the dollar and other currencies compete

 

5. deposits and payments it is delete zeros and structuring currency has become an urgent necessity."

 

6. great argument was chapter VII and now has gone and removed, why keep the zeros".

Abtan concluded that "an increase in the Iraqi dinar against the dollar is very vital to the citizen

Edited July 6, 2013 by deniscanada

[IQD1217]

Didn't the US get rid of the big bill's?

[vomer]

 

5. deposits and payments it is delete zeros and structuring currency has become an urgent necessity."

 

6. great argument was chapter VII and now has gone and removed, why keep the zeros".

Abtan concluded that "an increase in the Iraqi dinar against the dollar is very vital to the citizen

 

Thusly, delete zeros, THEN rv, eh?

[waterman13]

Didn't the US get rid of the big bill's?

Yes

http://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency

WM13

[IQD1217]

Iraq is going to do the same !! Introduce the smaller bills and raise the value..

[outlawclg]

yes they are.....hopefully on the 7th!

[dontlop]

they started pushing them to start the 2014 budget  a couple weeks ago ..they told them to start the budget in july .this is july . it seems to me to be the same guys arguing and calling for different things  about the zeros and the  dinar ..we know what happend last year .. it didnt happen ..

 

 by october they should have their budget outline .. hopfully they dont fight as much this year and they get their budget out on time

 

.. im  hoping for an international traded currency ,, after that this will take care of itself ..its out of our hands

[arewethereyet777]

they started pushing them to start the 2014 budget  a couple weeks ago ..they told them to start the budget in july .this is july . it seems to me to be the same guys arguing and calling for different things  about the zeros and the  dinar ..we know what happend last year .. it didnt happen ..

 

 by october they should have their budget outline .. hopfully they dont fight as much this year and they get their budget out on time

 

.. im  hoping for an international traded currency ,, after that this will take care of itself ..its out of our hands

I have to say dontlop, you are definitely one of the people I watch and read everything you post.  I have been reading the forums for a few months and noone seems to interpret the articles like you do.  I just wanted to say that.  Keep up the good work, my friend!

[Joey Collazo]

Let's be positive and wait and see.

[_RFJ]

Long time lurker / first time...

 

They didn't release these 25k notes just to make it easier for the citizens to buy bread. Many, many, many countries would have a field day if they lopped this thing. It might not be the large scale appreciation as reported by some but they're definitely not going to just lop it. Why call in the larges if so? Just canceling them out and letting 'em, find their way to the trash pile would be soooooo much easier...right?

[keylime]

they started pushing them to start the 2014 budget  a couple weeks ago ..they told them to start the budget in july .this is july . it seems to me to be the same guys arguing and calling for different things  about the zeros and the  dinar ..we know what happend last year .. it didnt happen ..

 

 by october they should have their budget outline .. hopfully they dont fight as much this year and they get their budget out on time

 

.. im  hoping for an international traded currency ,, after that this will take care of itself ..its out of our hands

 

well now there is an article posted here that says that International Banks are trading the currency.....

[Amos9:13]

Wish they would just issue gold coins and be done with it, that would pull in the large bills...that long with the cards.

[sandfly]

UR RIGHT

[Darin]

I always find it interesting how the R/D (lop) articles start to come out more frequently during high moments of hype on their currency.

 

We see some good articles come out about their currency, than it is followed by opposing articles referencing r/d (lops). They must like to keep speculative heads spinning, and try to suppress foreign speculation....

[zigmeister]

They do seem to have a pattern.   Difference is this time the CBI states they are not going to lop right now.  Before it was Saleh popping out of the bank announcing the kicking the zero's off the currency train.