Saleh: the deletion of zeros early next year (playing with fire)

[doctor robbins]

Some people call it smoke ,Some call it mirors. Some call it smoke and mirrors . Shabibi called it "PROPAGANDA "

 

Actually he called the education campaign "propaganda" and then he changed the word to "advertisement".  He called deleting the zeros "re-denomination".  .

Edited August 6, 2013 by doctor robbins

[caz1104]

Deleting the zero's means they will print new currency with lower denominations which is a redenomination (x1000) of the new currency.   That's why he stated that no wealth is gained, it has nothing to do with that made up word LOP. 

Thanks for the info

[coldwarvet]

Let's look at this from an economic management point of view. If the GOI and CBI were interested purely in cleaning up the accounting system, the only two things they would have had to do were: 1. Educate the Iraqi population (you can arguably assert that was the purpose for all the "raising the zeroes" articles over the years); and 2. Print the required number of lower denominations (supposedly that was already been done a while ago). So if we assume both of those conditions have been satisfied, then why haven't they pulled the trigger?

At the same time we have seen the numerous "delete the zeroes" articles, we have ALSO seen many articles about the tremendous resource wealth of Iraq (primarily oil, but also agriculture, and (more recently) substantial gold reserves). Could there be a connection between these articles and the ones mentioned above? Hmmmm!

Thirdly, as was mentioned earlier, Saleh is no longer in a position of influence, so his opinion is about as worthwhile as anyone else's at this point.

Bottom line: I don't think it's purely a coincidence that they have delayed their currency reform, and that all they talk about in the media is "raising the zeroes." If they wanted to simply RD (LOP) they would have/could have done so a long time ago. Time will tell what will actually transpire. Film at 11. :-)

[caz1104]

you mean the video where shabbi tells everyone deleting three zeroes is a lop? Clearly seperates the question of rv from rd.

Bad example to make your case from

Yeah propaganda. Now we see why they been educating about deleting three zeroes in the last 600 zero articles.

Sandstorm, just a question. How many articles and for how long do you think it takes to educate?   

[Priscilla]

I can see there is a lot of argueing about this topic, and I don't pretend to fully understand it all, but it's for this reason that I don't come in the forums too often. I just wait until Wednesday's to hear what Adam has to say. I'm sure he will touch on this tomorrow..

[sandstorm]

He said " LOTS OF PROPAGANDA" . You can add that to your 600 zero articles

and you know the definition of "propaganda", right? Exactly what would be needed to have a successful transition of currencies?vomer, on 05 Aug 2013 - 6:50 PM, said:

A person can read anything into these bulletins.

How do you read deleteing the 000's????????????

Read more: http://dinarvets.com/forums/index.php?/topic/156872-launch-the-iraqi-dinar-vp-of-the-economic-commission-project-to-delete-the-zeros-economic-feasibility-of-the-regional-climate-suitable-for-launch/page-2#ixzz2b9KdLOdU

[sandstorm]

Sandstorm, just a question. How many articles and for how long do you think it takes to educate?

great question. I'm sure we all have opinions here.

Initially the cbi was giving their opinion to the goi on how to conduct currency reform, by deleting three zeroes. Many articles came out at his time. Some direct statements by cbi officials and then the official rebuttals to the proposals by the cbi.

Time passed.... They postponed. Articles came out again

Cbi i brings up the issue again, goi and parliament,deny again. Many articles flow out rapidly.

A few years pass......the cbi does it again

Postpone

Now it seems like jan 2014 is a hot date. There has been statements made by the cbi, finance committee, goi, economists, students, and citizen opinions.

There's always been five or so points of view during these statements about deleting three zeroes. From many perspectives, trying to navigate is confusing.

But IMO the message is clear about intentions and possibly when. We shall see. Hoping turki will rv before he lets such a thing happen. Where else we really at?

Edited August 6, 2013 by sandstorm

[jg1]

Shabs interview, 4/19/2011 (this is what I got out of it)

Will there be a revaluation of the Iraq currency, could not tell you even if there was going to be, but it depends on to what extent we are going to control inflation. Main course is to maintain price stability. Depends on inports and exports and balance of statements and the economy. 

 

There was no government decree, it was because inflation was rampant int the 80's, small notes were not being used. The government added the three zero's, not because of sanctions.

 

Now the situation is different, low inflation, stable macro economics, exchange rate managed by the central bank. Need to increase the denomination and add three zero's. To bring back the Iraq dinar, remove 3 zero's, monitor the exchange rate, They have decided - very soon remove the 3 zero's. Need help from the security forces, so they can devote more time to the currency issue. Hu, why, a nutral event!

[uncirculd]

How so? Explain.how much easier it is to lop, then to RV.....

Especially when.in.either scenario, you end up with a dinar on par with the USD and your gonna wanna keep that rate stable, and possibly increasebit further.....

Because it goes.both ways.....its not silly.....they could have just as easily lopped as well as RV the currency years ago to get rid of the accountingbissues or to get rid of the larger notes.....

They did lop, with our help.  Now the only way to go is up, and it's a long climb.   I hope we are almost there.  Kiss the little princess and keep the faith.

Edited August 6, 2013 by uncirculd

[waterman13]

Wish I could find the youtube video of Shabibi in Jackson Hole Wyoming, but it's not there anymore I think it was in 2009 or 2010.

Here's a fox news interview with Dr. Sinan Al-Shabibi in 2010. http://dinarvets.com/forums/index.php?/topic/29584-shabibi-interview-82610-jackson-hole-wy/page-4

 

I know he said in that conference that IRAQ would have the strongest currency in the Middle East. The only way to do that is to remove the three zero notes from circulation, how do you do that? Raise the rate. It's that simple to me. But, maybe I'm simple.

 

GO RV @ $3.33

WM13

[blueskyline]

and you know the definition of "propaganda", right? Exactly what would be needed to have a successful transition of currencies?vomer, on 05 Aug 2013 - 6:50 PM, said:

A person can read anything into these bulletins.

How do you read deleteing the 000's????????????

Read more: http://dinarvets.com/forums/index.php?/topic/156872-launch-the-iraqi-dinar-vp-of-the-economic-commission-project-to-delete-the-zeros-economic-feasibility-of-the-regional-climate-suitable-for-launch/page-2#ixzz2b9KdLOdU

Its difficult to read the absolute truth into anything if contains " Lots Of Propaganda" ,Which is what Shabibi said is involved. What does Shabibis words mean to you . I take the whole campaign or advertisement  as a campaign involving "Lots Of Propaganda". Why ? Because he said so. You can't take back words

[TotalNewb]

Its difficult to read the absolute truth into anything if contains " Lots Of Propaganda" ,Which is what Shabibi said is involved. What does Shabibis words mean to you . I take the whole campaign or advertisement  as a campaign involving "Lots Of Propaganda". Why ? Because he said so. You can't take back words

Good point. They would never show their true hand when it comes to the RV.

[TotalNewb]

Besides, I think this article is regurgitated... I think I have read this article before .

[sandstorm]

Its difficult to read the absolute truth into anything if contains " Lots Of Propaganda" ,Which is what Shabibi said is involved. What does Shabibis words mean to you . I take the whole campaign or advertisement  as a campaign involving "Lots Of Propaganda". Why ? Because he said so. You can't take back words

if shabbi had excellent in timing with his 2nd language of English, I'd lean your way. But he used an accurate translated word

[keepmwlknfny]

Easy. An LOP is a neutral event. No need for:

1. Improved economy/finances/banking. It is used when countries are in bad financial shape.

2. No real education program required.

3. No need for worry about corruption/laundering. Nobody makes money, no one wants to counterfeit

4. CBI can do without GOI approval (I think)

5. No real reason to wait ten years to LOP to get rid of hyperinflation that happened 10 - 20 YEARS AGO

1. So just leave the banking industry and economy in shambles and it will support and help facilitate a higher valued currency?? You dont think Iraq is in bad financial shape at this moment? One of the least wealthies countries in the world.....

 

2. You dont think they need to let the public know how the new bills will work? What kinds of bills there will be? What it will be worth?  What to do with the older currency? Explaining the process?  They have spent time on this, and for a while it has just been a matter of agreements on when or if they should do it.

 

3. There is always laundering and counterfeiting going on. The 25k note is worth over 20 bucks......think about how many you could make and its all free money. You know that the most counterfeit bill here in the states is the 20.  It all has value if you can get away with using it. Think about how many bills you could make and turn them in, or having someone on the inside accept as many bills as you can carry with you, to get new and legit bills.

 

4. The CBIs hands are tied in either case if it requires a new currency.....the GOI has to approve issuing a new currency.

 

5. They didnt really get a handle on inflation until about 07-08..... 

Good point. They would never show their true hand when it comes to the RV.

Of course they wouldnt....so why would they be advertising the largest currency appreciation in history?

Sorry Keep, I thought I was going to take all the heat on this one by posting "describes a LOP" as the first post...lol  

LOL.....eh its all good brother!  Used to it by now hahaha

[Nelg]

It may LOP or it may RV.  No one knows until the "fat Iraqi pushes the button" and I guess "sings."

[keepmwlknfny]

Couldn't have said it better myself..... Keep I've said it before... I don't always see eye to eye with your views and opinions, but when I don't you definately make me think and challenge me to not just be a sheep blindly following the group-think. I like having you around.

Thanks my dude!  Glad I keep you thinking! I know we dont always agree, but we damn sure both want the same outcome!!  = )

[OfCamelot]

To be perfectly honest guys, the deletion of Zero's makes no difference to the monetary value.  I am inclined to accept that and keep the notes I currently have than have to rush to the bank to have it exchanged, pay a fee and still be holding notes.

 

Its not the rednomination i have my eye on.  Its the revaluation I am waiting for.  I dont believe its going to happen next year either.
 

The USD has been dropping in value ever so slightly.  It serves the Iraqi's to maintain a status quo.  The longer they hold on to the present value, the reevaluation will be stronger.  For the folks in the US that means a larger amount in exchange.

Edited August 7, 2013 by OfCamelot

[hoosier1470]

The Deputy former central bank governor, on Tuesday, to begin the

 

Why is everybody getting all excited over what the FORMER   central bank governor has to say????Did you get that word "FORMER" meaing he is no longer the Deputy Central Bank Governor... Is he even employed????

Exactly!! That's about the sane as someone getting all worked up over something that Jimmy Carter would say right now concerning something going on in our government!! He may be able to run his mouth and voice his opinion, but the man in the white house right now is gonna laugh at the statement and continue on with what he wants to do....After all.. He is the president...not Carter!! Same scenario here...Sale is a "has been...wanna be"....nothing more! This is nothing more than his opinion...and his opinion DONT COUNT!!! Take what ya read from the press....and expect the exact opposite!! Be blessed!!

[zigmeister]

Of course it does.....My position is NOT that they are going to lop.....I.wish i knew what they were gonna do. Just pointing out things i feel necessary because there is a lot of confusion on this topic....

Indeed Keep.  So much confusion.  I appreciate your input as always.  I know you are hoping for the best just like the rest of us.  Sometimes it feels like a crap shoot with Iraq.

[waterman13]

It's a whole bunch of crap shooting if you ask me Zig!

[sandfly]

THANKS

[thesjeske]

 This and only this.

 

This is it!

 

[Psych]

One last thought...how many years of smoke and mirrors are needed to confuse us?  That's a whole lot of smoke and mirrors.  I believe they are telling us what they know...which isn't whole heck of a lot.  And opinions seem to change daily based on the politics at play.