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Kaperoni / Tlar & DA Member Discussion - 07/15/2013


ronscarpa
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Kaperoni / Tlar & DA Member Discussion - 07/15/2013

AdminBob Site Owner: Financial: wait for the claim of Central Bank of Iraq to discuss with us the subject delete zeros 15/07/13

She is a member of the parliamentary Finance Committee, najeeba Najib, said that the Committee was discussing with the Iraqi Central Bank subject to delete zeros from the local currency, after taking his Abdul Basit Turki, the parliamentary Finance Committee pending the CBI claim to discuss with him.

Najib said that "previous administrative body of the Central Bank presented a study on the preparation of the project to delete zeros, noting that the study was scientific and professional companies that have been included with the agreement for the implementation of the project".

And Financial Committee Member representative stressed that "Iraq needs some salt to delete zeros from its currency, because the size of the money supply in circulation of great magnitude.

 

LINK: http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fal-hodaonline.com%2Fradio%2Findex.php%2Firaq%2F16713.html

 

Art: good post bob thanks

Tlar; She as others continue to reference the scientific study to delete the zeros. The only study that was done on this subject was done in 2008 to my knowledge. 

In that study it explored the subject thoroughly with the goal of trying to find out at what rate the CBI could support the currency and what's its value should be. 

The conclusions were that the rate should be $1.13 and that the CBI should defend that rate for two years before allowing the rate to float. In other words a controlled value much like we see today. 

This lady is on the finance committee and is therefore most likely to be ":in the know" after having just sat with Turki. This sentence I've copied below, is very telling to me. 

It indicates that to me Turki, is meeting with individual members of both the finance and the economic committees, selling the "scientific study" that was done in 2008 under Shabibi's watch.

"Najib said that "previous administrative body of the Central Bank presented a study on the preparation of the project to delete zeros," . 

Dr. Nan: Well, at least we know, rather it appears we know, that things are going on over there. They are not sitting around doing nothing. "Life is a series of new beginnings!"

Punisher: Tlar, ....and that makes me happy if they are contemplating that icon_smile.gif Supporting $1.13 out of tha gate until it eventually reaches $3 over a few years sounds great to me!

Kaperoni: I love when we get a translated word that means something..in this case...

"Iraq needs some salt to delete zeros from its currency,..."

In other words, some "perseverance," "hardiness," "resilience,” “ambition,” lol

Tlar: Punisher, the rate today may be different than the rate suggest in 2008. Since 2008 a lot more currency had hit the streets even though we know they have been buying and retiring as much as possible through the auctions. 

Also the reserves and the new monies coming to the reserves (80 billion + 82 billion + 3 billion) are significantly higher than they were in 2008. I think based on the slip up from the finance guy in his interview while talking about the 2014 budget and the parts that go into making it up, tells us more about the new rate than the 2008 study. 

He slipped up and told us that each dollar will equal 1.16 dinars which is 86 cents. That is exactly what we would expect if they drop the leading zeros of the exchange rate. .00086 to .86. 

I think Turki is using the study as a proof source when selling the deletion of the zeros, but he most likely updates the rate to conform to the conditions today.

Punisher: Either way Tlar...I will be a happy camper icon_smile.gif Anything over .86 at starting point is solid in my book...I am not a greedy person.
Edited by Bumper64
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Has anyone read an actual reference stating the intention to delete 3 zeros off the exchange rate ?

I used to think it was either/or (either the notes or the exchange rate... ) and maybe being really tired tonight, my brain is on the fritz... but is it maybe possible both things could happen...?

 

Seems if they took it off the exchange rate, then increased value now, then introduced the new currency notes replacing the series we hold in 2014, that would be one heck of a party dance.... (and presumably not neutral?)

If they took the zeros off the exchange rate and introduced a new series (i.e., lower denoms) replacing the series we now hold at the same time, ( if both things happened at the same time) , would that be a neutral event?

OR

is the neutral event if they took zeros off the notes and left them on the exchange rate.

Obviously I'm not the one who keeps the checkbook.... gave that up when it started taking the form of a 2X2 ft flow diagram. I'm the one who conceptualizes how to spend the money... not keep track of it... :lol:

Thanks guys... numbers and me have had a long relationship that is fairly we ta did.

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Kap really should look up what "salt" means in the ME.

 

 

 


 

It was written many years ago in the “East” which today we refer to as “The Middle East.”  As such, there are many customs and idioms that are not familiar to the “Western” mind.] 

handshake2-150x150.jpgA covenant is an agreement or a contract.  Today it is very common for people to enter into agreements by signing what we refer to as a contract.  Not so long ago, they did it with a simple hand shake.  One of the oldest known covenants in the world is the covenant of salt.

Salt is a necessity of life. Since ancient times it has been used in many cultures as a seasoning, a preservative, a disinfectant, a symbolic part of ceremonial offerings, and as aunit of exchange.  The Bible contains numerous references to salt. In various contexts, it is used metaphorically to signify permanence, loyalty, durability, fidelity, usefulness, value, and purification.

 

The covenant of salt symbolizes loyalty, honesty, and it represents that which is a lasting or preserved covenant. Some of the Eastern people still use the phrase: “There is salt between us.”  In Bible times, they understood that the covenant of salt meant that they would keep their word at all costs.

How Did One Enter Into A Salt Covenant?

The custom of pledging friendship or confirming an agreement or covenant by eating food containing salt is still retained today among some Middle Easterners. The Arabic word for salt and for, an agreement or treaty, is the same word.  And so, the most common way of entering into a salt covenant was done by eating food containing salt.

Entering into a covenant of salt was never done lightly or haphazardly. In Bible times, guests would eat their meal while their host stood. If the host ate with his guests, then they would have entered into a salt covenant because the food contained salt.

Newborn babies were rubbed with salt symbolizing that they would grow up and say what they mean, and mean what they say. In other words, they would keep their word.  There will be more about that in an upcoming Eastern Eye article concerning the birth of Jesus.

Traveling

In the late 1970′s when Prime Minister Begin of Israel met with President begin-sadat1.jpgSadat of Egypt, Begin was greeted as he set foot on Egyptian soil.  It was reported that the two men stopped to take bread and salt together.

To the Western mind, this may seem like an old fashioned custom, and one might think that it was a nice gesture, but it was much more than just a gesture. In their Eastern minds, they entered into a salt covenant.  Sadat was communicating through his action that Begin would be safe while visiting Egypt and that he was willing to guarantee that safety with his own life.

Since ancient times in the Middle East, if you were traveling and needed shelter for the night, you could ask one of the Bedouin for his protection and help by asking if you could partake of salt together. He would ask for all your money and valuables and put them in his pockets.  Next, he would feed you and give you a place to sleep.  Finally, he would stand guard all night to make sure that no harm came your way.

In the morning, he would feed you once again, give your valuables back to you, and make sure you were safely on your way.  He would never even consider taking any payment for his hospitality, because in the East, it is looked upon as an act of service to God.

The Salt Covenant In Wedding Ceremonies

Perhaps you have attended weddings where salt was involved in the service.  In many of the weddings I have officiated, the couple, understanding the significance of the salt covenant, requested to partake in a salt covenant on their special day.

Symbolically this puts the marriage into the category of a lifelong, enduring covenant.  It is a good custom. It is interesting that at the Last Supper, during a meal that would have included salt, Jesus said the words from the wedding ceremony; “I am going there to prepare a place for you. And if I go and prepare a place for you, I will come back and take you to be with me that you also may be where I am.”

In the lands and times of the Bible, the penalty for breaking the salt covenant was death.  One would die before he ever broke the trust of entering into a salt covenant.  Perhaps that is why Jesus, speaking of Judas, said it would have been better if he would have never been born.  Judas shared salt with Jesus on many occasions, including the Last Supper.

In some translations, the words that Jesus spoke before he ascended into heaven as recorded in the book of Acts indicate that he spoke them after eating with the Apostles.  That would then make those words about the coming of the gift of holy spirit bound by the salt covenant.

Greater Understanding

Having insight into this ancient covenant brings greater understanding when one reads the Scriptures.  Jesus said, “You are the salt of the earth.”  And Paul exhorts, “Let your speech be always with grace, seasoned with salt.”

 

 

 

 

 

Now when you read this article with the definition from what salt means in ME, it reads a bit differently.

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Kap really should look up what "salt" means in the ME.

 

Now when you read this article with the definition from what salt means in ME, it reads a bit differently.

Two Peanuts Were Walking Down The Street And One Was Assaulted ! :o

:D:D:D

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