the CURRENT CURRENCY NOT WORTHY in IRAQ .. And the DELETION of ZEROS ( RAISE the VALUE of BANKNOTE, NOT CURRENCY!! ) is an URGENT NEED!

[ALBUNDY]

Economic parliamentary: the current currency not worthy in Iraq .. And the deletion of zeros is an urgent need
 

 

 

 

07/16/2013 - 9:51

 

Called deputies Economic Commission, yesterday, to accelerate the implementation of the project "reset" the process of local, and stressed that the current currency "not worthy" status of Iraq's economic and investment which, while saw an economist that the World 2012 was a "more appropriate" to replace the currency of the moment
 

 

 

A member of the Economic Commission representative, Abdul-Hussein Abtan, said that "the Iraqi economy today is in an advanced position and good because of the supplier of oil big, which reached nearly three million barrels per day," and notes that "the Iraqi Central Bank recently announced that reserves reached 76 billion dollars, a very significant amount, "
 

 

 

 

Abtan added, that "despite all that Iraq is still suffering from a lack of precision in the management of the economic file as well as the lack of coordination between the pillars." The Central Bank of Iraq announced, on July 3 current, that Iraq is "in control of the funds and treasury of gold" in international banks, one of the acting out, denying the existence of frozen funds "outside the control of the Iraqi administration," While revealed that the Reserve Bank amounted to $ 76 billion In May last year, was considered to be out of Chapter VII of Iraq will allow "more freedom" to act and attract foreign investment.
 

 

 

 

The member of the Economic Commission representative, the need to "multiple revenue estimated reflected on the economy and not on the availability of cash reserves large," and continues that this "evolution in oil production and reserves, the central bank must be reflected on the lives of the citizens, because the country still has a large proportion of the poor and low-income and high unemployment and the housing crisis and the deterioration of the agricultural and industrial sectors. "

 

 

 

The promise of a member of the parliamentary economic committee, that "the reserves located in Iraq and put the current economic is not commensurate with the size and value of the local currency, which contains the number of zeros."
 

 

 

For its part, said a member of the parliamentary economic committee, Nahed al-Daini, said that "the deletion of zeros from the currency became a reality, especially after the withdrawal of Iraq from Chapter VII of the Charter of the United Nations."
 

 

 

Daini and remember, that "the Economic Committee of the Council of Ministers were wary in the past of deletion of zeros from the currency of many considerations," and turned out to be "out of Chapter VII made it necessary to delete the zeros of the Iraqi dinar absolute privacy."
 

 

 

 

And called a member of the Economic Commission parliamentary political forces and stakeholders to "leave the excuse that the time is not appropriate, taken as a pretext to stop a lot of decisions which, if applied to have contributed to the recovery of the Iraqi economy significantly," and stresses the need to "adjust the border crossing points and the adoption of the law of customs tariff and RESET CURRENCY and the implementation of the Consumer Protection Act for the advancement of economic reality. "
 

 

It said a member of the Finance Committee parliamentary Najiba Najib, "The Commission did not discuss with the Iraqi Central Bank Multi deletion of zeros from the local currency after assuming Abdel Basset Turkish presidency," and explains that "the Finance Committee parliamentary pending claim the Iraqi Central Bank to discuss with him the subject . "
 

 

 

Najib said that "the governing body of the former Central Bank presented a study on the preparation for the project to delete the zeros," and believes that "this study was professional, scientific and included companies that have been agreed with the implementation of the project."
 

 

 

In a related development, said economic expert on behalf Antoine, said, "want to DELETE the ZEROS is the RESTRUCTURING of the CURRENCY and REDUCE the USE of DECIMAL NUMBERS in the accounts of the process, which has become a danger," and shows that "The other thing is to reduce the fraud that occurs in the current currency that consumed more large and you need to switch. "
 

 

 

And saw Antoine, "The other point is minimized (dollarization) because when you DELETE the ZEROS will RAISE the VALUE of the BANKNOTE, NOT CURRENCY because the latter means and not an objective," and continues that "it reduces the dollarization in business dealings Instead of using billions of leaves from the local currency Stenzel this to millions and instead of moving bags currency buckwheat (Alkouan) will be transferred bags. "
 

 

 

And emphasizes the expert, that this "process requires the security situation and a stable political and banking system accurate, fair and educate all the security services to reduce fraud and counterfeiting," and corrects that "the central bank is ready for this process not be busy out corruption and others."
 

 

 

Antoine believes, that "the TIME to CHANGE the CURRENCY was APPROPRIATE in the past YEAR 2012, either now it is not appropriate."
 

 

 

Conversely sees Head of Economic Studies at the Center for Mustansiriya for Arabic Studies and International Dr Abdul Rahman al-Mashhadani, that "the PROCESS of DELETION of zZEROS was supposed to EXPIRE TWO YEARS AGO because the issue is purely economic," and shows that "the dinar, which was torn and steals a loss to the government and citizen."
 

 

 

He continues, head of economic studies, that "denominations now need to transfer large banks need to protect and place great," and goes on to "the IRAQI CURRENCY NEED to CHANGE because, according to the international standards should be changed categories currently in circulation and that the CENTRAL BANK shall ISSUE NEW CATEGORIES."
 
 

It is noteworthy that the General Secretariat of the Council of Ministers announced (12 April 2012), the patient in the application process to delete the zeros from the national currency, which had to stop all actions related to the mentioned process until further notice.

 

 

 

THE LINK : http://www.burathanews.com/news_article_203138.html

Edited July 16, 2013 by ALBUNDY

[ALBUNDY]

" when you DELETE the ZEROS will RAISE the VALUE of the BANKNOTE, NOT CURRENCY " , Is it a good or bad news? is it pointing to the RV?

[SgtFuryUSCZ]

***///

 

They have all the tools $$$$$ they need to do it...

 

So why don't these tools       just do it....?

 

 

Cat's outta the bag.....

the economists, the elders, the people, (us!  ) have all screamed to git 'er done!

 

SO DO IT ALREADY....!

Oy Vay!

[TotalNewb]

It sounds good to me!! Love that they are talking about moving the decimal!

[ALBUNDY]

Economic parliamentary: the current currency not worthy in Iraq .. And the deletion of zeros is an urgent need
 

 

 

 

Tuesday, July 16, 2013 08:27.

 

 

 

Economist believes that the change was appropriate in 2012 .. Not now Baghdad: called deputies Economic Commission, yesterday, to accelerate the implementation of the project "reset" the process of local, and stressed that the current currency "not worthy" status of Iraq's economic and investment which, while saw an economist that the World 2012 was a "more appropriate" to replace the currency from the current time.

 

A member of the Economic Commission representative, Abdul-Hussein Abtan, said that "the Iraqi economy today is in an advanced position and good because of the supplier of oil big, which reached nearly three million barrels per day," and notes that "the Iraqi Central Bank recently announced that reserves reached 76 billion dollars, a very significant amount, "according to the agency" Press-term ".

 

Abtan added, that "despite all that Iraq is still suffering from a lack of precision in the management of the economic file as well as the lack of coordination between the pillars." The Central Bank of Iraq announced, on July 3 current, that Iraq is "in control of the funds and treasury of gold" in international banks, one of the acting out, denying the existence of frozen funds "outside the control of the Iraqi administration," While revealed that the Reserve Bank amounted to $ 76 billion In May last year, was considered to be out of Chapter VII of Iraq will allow "more freedom" to act and attract foreign investment.

 

The member of the Economic Commission representative, the need to "multiple revenue estimated reflected on the economy and not on the availability of cash reserves large," and continues that this "evolution in oil production and reserves, the central bank must be reflected on the lives of the citizens, because the country still has a large proportion of the poor and low-income and high unemployment and the housing crisis and the deterioration of the agricultural and industrial sectors. "

 

The promise of a member of the parliamentary economic committee, that "the reserves located in Iraq and put the current economic is not commensurate with the size and value of the local currency, which contains the number of zeros."

 

For its part, said a member of the parliamentary economic committee, Nahed al-Daini, said that "the deletion of zeros from the currency became a reality, especially after the withdrawal of Iraq from Chapter VII of the Charter of the United Nations."

 

Daini and remember, that "the Economic Committee of the Council of Ministers were wary in the past of deletion of zeros from the currency of many considerations," and turned out to be "out of Chapter VII made it necessary to delete the zeros of the Iraqi dinar absolute privacy."

 

And called a member of the Economic Commission parliamentary political forces and stakeholders to "leave the excuse that the time is not appropriate, taken as a pretext to stop a lot of decisions which, if applied to have contributed to the recovery of the Iraqi economy significantly," and stresses the need to "adjust the border crossing points and the adoption of the law of customs tariff and reset currency and the implementation of the Consumer Protection Act for the advancement of economic reality. "

 

It said a member of the Finance Committee parliamentary Najiba Najib, "The Commission did not discuss with the Iraqi Central Bank Multi deletion of zeros from the local currency after assuming Abdel Basset Turkish presidency," and explains that "the Finance Committee parliamentary pending claim the Iraqi Central Bank to discuss with him the subject . "

 

Najib said that "the governing body of the former Central Bank presented a study on the preparation for the project to delete the zeros," and believes that "this study was professional, scientific and included companies that have been agreed with the implementation of the project."

 

 

In a related development, said economic expert on behalf Antoine, said, "want to delete the zeros is the restructuring of the currency and reduce the use of decimal numbers in the accounts of the process, which has become a danger," and shows that "The other thing is to reduce the fraud that occurs in the current currency that consumed more large and you need to switch. "

 

And saw Antoine, "The other point is minimized (dollarization) because when you delete the zeros will raise the value of the banknote, not currency because the latter means and not an objective," and continues that "it reduces the dollarization in business dealings Instead of using billions of leaves from the local currency Stenzel this to millions and instead of moving bags currency buckwheat (Alkouan) will be transferred bags. "

 

 

And emphasizes the expert, that this "process requires the security situation and a stable political and banking system accurate, fair and educate all the security services to reduce fraud and counterfeiting," and corrects that "the central bank is ready for this process not be busy out corruption and others."

 

Antoine believes, that "the time to change the currency was appropriate in the past year 2012, either now it is not appropriate."

 

Conversely sees Head of Economic Studies at the Center for Mustansiriya for Arabic Studies and International Dr Abdul Rahman al-Mashhadani, that "the process of deletion of zeros was supposed to expire two years ago because the issue is purely economic," and shows that "the dinar, which was torn and steals a loss to the government and citizen."

 

 

He continues, head of economic studies, that "denominations now need to transfer large banks need to protect and place great," and goes on to "the Iraqi currency need to change because, according to the international standards should be changed categories currently in circulation and that the Central Bank shall issue new categories."

 

 

It is noteworthy that the General Secretariat of the Council of Ministers announced (12 April 2012), the patient in the application process to delete the zeros from the national currency, which had to stop all actions related to the mentioned process until further notice.
 

 

 

THE LINK : http://www.alrafidayn.com/alrafidayn/2009-05-26-22-15-56/41585-2013-07-16-08-28-35.html

[Psych]

" when you DELETE the ZEROS will RAISE the VALUE of the BANKNOTE, NOT CURRENCY " , Is it a good or bad news? is it pointing to the RV?

It would be bad...but they appear to have no idea what they are doing yet...or at least the people speaking to the media don't or are lying.

[SocalDinar]

Nice article Al Bundy!

Can't wait to see those lower Denoms

[SgtFuryUSCZ]

It would be bad...but they appear to have no idea what they are doing yet...or at least the people speaking to the media don't or are lying.

***///

 

Astute observations all around.

 

They have certainly  become Masters of Spin over the years with this thing.

 

A veritable exhausting exercise in mis- & dis- information to confuse everyone.

 

Just once we'd like to poke somebody in the eye and exact the truth outta them!

[dontlop]

just watch a sunday talk show in usa .. same thing .. one side is lying all the time guess which side

[Brisco]

Something Wickedly Good this way comes

[gregp]

Oh Al. You can finally quit the shoe store. Great news! You really poored your heart into this. Move the decimals!

[dontlop]

something is definatly going to be done with the currency .. thats what we have been waiting for .. to see what they do .. i doubt a loss for us as investment speculators ... i also doubt a nutral currency swap ..... i thinks its probable to have an increase in value  . i really went out on a limb ..

it might take  more time but it seems lots are pulling for a change in the currency structure .. so eventually it will be done

[gixxerfrog]

if they delete the zeros off the notes why would they make new lower denoms? how low do u need em, they have a 50 so that would be .05 cents if u delete the 3 zeros what would the new notes be half of a penny ? Also the rate would still be 1166 so if a loaf of bread cost 2000 now instead of handing them a 5,000 note u gotta hand them a bunch of the 25 notes.

[vomer]

We just don't know what 'delete the zeroes' means.  There's more than one way to 'delete' zeroes.  One is to revalue, isn't it?

[mrmcwhipit]

Reduce decimal numbers sounds kinda good

i dont remember them saying it like that before.

[dontlop]

if they delete the zeros off the notes why would they make new lower denoms? how low do u need em, they have a 50 so that would be .05 cents if u delete the 3 zeros what would the new notes be half of a penny ? Also the rate would still be 1166 so if a loaf of bread cost 2000 now instead of handing them a 5,000 note u gotta hand them a bunch of the 25 notes.

they want coins ..

the whole coin structure thru the paper whole notes

 

ya gotta remember they are still way back in time .. they still like to hear the coins jingling in their paw kits

they try to give them plastic .. but they are leary about that ,, they have been ripped before

people lose respect for the value when they use plastic ..

Edited July 16, 2013 by dontlop

[jcfrag]

I wish Shabs was still on board. Ignorance concerning their currency seems to be running rampant. At least one person over there had a vision, then Maliki decided to try and throw him in jail for whatever......

[gixxerfrog]

they want coins ..

the whole coin structure thru the paper whole notes

 

ya gotta remember they are still way back in time .. they still like to hear the coins jingling in their paw kits

they try to give them plastic .. but they are leary about that ,, they have been ripped before

 thats what i dont understand though.  if they make coins (in lower denom) what good are they ? like i said if a loaf of bread is 2000 what good are the coins ? they will be hauling buckets of coins around. we barley use pennies anymore = worthless.  if they delete the zeros off the notes even the 50 dollar bill now will be worthless it would b worth .05 cents whats the coins going to be worth a penny like ours ?

[keylime]

according to the international standards should be changed categories currently in circulation and that the CENTRAL BANK shall ISSUE NEW CATEGORIES."
 

For me this says they should release the new lower denominations for the "current" currency IN CIRCULATION!!!  "New Categories" not "New Dinar"!  That tells us they want to raise the value of the Dinar by moving the decimal and release LD's for the money that is already out there....

 

This is a NO LOP scenario the way they are describing it here....This is great news if the person speaking knows what they are talking about....

 

This IS what we want....

[dontlop]

if they delete the zeros off the notes why would they make new lower denoms? how low do u need em, they have a 50 so that would be .05 cents if u delete the 3 zeros what would the new notes be half of a penny ? Also the rate would still be 1166 so if a loaf of bread cost 2000 now instead of handing them a 5,000 note u gotta hand them a bunch of the 25 notes.

that was a good one though ..

 

im not sure if the rate would coincide with the 3 zero deletion ..they may restructure the currency . but ive heard lots of chatter where they say their reserves can back the dinar at a much higher value right now , so they may change the structure of denomination by 3 zeros but change the value by a different number ..and that is possible .. some will try to explain they cant do that ,, but they can do as they please ..it just has to be sustainable ..

 

they seem to of been testing out their banking structure for the last few years and they are ahead  in the value of reserves compared to the number of dinars in circulation .. they dont need a surplus .. they need balance ., .. surpluses are not good .. deficits are not good ..  balances are good .

if the media was legitimate in iraq we would know more .. we dont know if these are news articles or opinions .. . or just what certain people would like to see happen with their currency ..but its the cbi who sets monetary policy in iraq .. the money belongs to the iraqi people ..the cbi just manages it . i believe the cbi is a nationalized institution ..not a private institution .

Edited July 16, 2013 by dontlop

[PD46]

I see a very bad trend. 

There is as much disagreement about the "deletion of zeros project" as there is disagreement about the Hydro-carbon law being passed. 

This is not good for any of us.  Typically for Iraq, the currency issue is turning into a three ring circus. 

Iraq's politicians act more like inbreed barbarians than human beings most days. 

At this rate, we are doomed to see any change by 2015.   

Like I said in a previous post, Adam jumped the gun in closing the VIP site to new members.  His VIP will be opening back up for all shortly. 

There is no imminent RV coming soon.  Too many articles are confirming this by showing all of the disagreement in Iraq. 

This is going well beyond 2015.  Sit down and hold on.  The rollercoaster ride will continue. 

[dontlop]

maybe they are ahead of the value of each dinar by 2 and a half times right now ..but maybe it took them 5 years to accumulate that amount of  excess reserves .. . so they would be 250% higher on reserves  or 2and a half times higher .. over 5 years .. so you devide that 250% by 5 years to get there .. or 50% per year .. .. so if they cange the value by 50% .. they would have balance ..no gains every year and no losses every year ..

 

so they add 50%  to the dinar  and  monitor that figure and eventually  after a few years they settle at the actual value .. maybe it gets higher because of increased oil production .. so they add more value through out the years ..

 

maybe they add more value   in accordance to what they know they will be eventually  increasing their oil production level to be and eventually end up in balance after  a few years .

 

they could run a deficit for a couple years and end up with balance a few years down the road with a 100% increase in value today .. and pay later

 

could be a huge increase now for more spending power  while they rebuild the private sector .. then slowly  devalue the dinar over the next few years .. libya did that ..  they started out with around a $1.50 libya dinar  after breaking away from the dollar peg ..and pegging to the sdr  at the imf .. and ended up 10 years later with a 75 cent libyan dinar .. and now it sustains itself  at 75 cents ..

a bunch of maybes ..lol

maybe malik lets off a huge stinker   while making a speech and loses his job out of discontent and al sadr takes over and plasters his picture on every street courner as he murders his opposition untill thers no opposition ..those pictures are for nothing but intimidation .. the dictators love it that everyone fears them .

[Choppermike]

Dontlop- if I am not mistaken, I do believe the Central Bank is actually owned by he Rothschild empire. Just like ours and 163 other central banks.

I see a very bad trend. 

There is as much disagreement about the "deletion of zeros project" as there is disagreement about the Hydro-carbon law being passed. 

This is not good for any of us.  Typically for Iraq, the currency issue is turning into a three ring circus. 

Iraq's politicians act more like inbreed barbarians than human beings most days. 

At this rate, we are doomed to see any change by 2015.   

Like I said in a previous post, Adam jumped the gun in closing the VIP site to new members.  His VIP will be opening back up for all shortly. 

There is no imminent RV coming soon.  Too many articles are confirming this by showing all of the disagreement in Iraq. 

This is going well beyond 2015.  Sit down and hold on.  The rollercoaster ride will continue.

It's funny that you mention "inbred". Inbreeding amongst the tribes and families is a common practice.

[Nelg]

Why doesn't someone connected to the CBI ask then what "deleting the zeros" means?  Shouldn't it be that simple to someone who really has "connections"?  

 

We have debated and debated without knowing the exact meaning, in our terms or understanding, of the phrase!  Isn't there anyone "guru" out there with the "right connections" to get a simple verified definition of meaning?!?  Then we could stop all this chatter of "well it means this . . ." or "no, it means this . . ." or "no one knows what they mean!"  Then we could have a discussion with some substance instead of pure speculation!  

[dontlop]

well from what i read on the cbi site .. the bank was established by approved  100 billion dinars .. and 100% of the stock is to be held by the state and non transferrable ..remember who it was that fired maliki .. the goi

Dontlop- if I am not mistaken, I do believe the Central Bank is actually owned by he Rothschild empire. Just like ours and 163 other central banks.


It's funny that you mention "inbred". Inbreeding amongst the tribes and families is a common practice.