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Tlar "They Are Insinuating Big Change In Currency" - 08/08/2013

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Tlar "They Are Insinuating Big Change In Currency" - 08/08/2013 

Tlar Post emailed To Recaps

Mehma Khalil called Central Bank currency structure project August 8, 2013 

Baghdad: Iraq news network called the Parliamentary Commission on the economy and investment the Central Bank of Iraq, the need to delete the zeros of the Iraqi currency after the land was available and exit Iraq from Chapter VII, and the economy is expected advantages and the results summary of Security Council-imposed penalty. 

The words of the Rapporteur of the Committee, MP Khalil mehma, in the presence of members of the Committee on the economy and investment, the Central Bank should start a currency structure as a purely economic issue. 

FULL ARTICLE & LINK BELOW TLAR’S COMMENTS

Tlar: "The CBI had said in August that it planned to delete the zeros of the Iraqi dinar "

This is the second time it is mentioned. The first was a guy on the finance committee and now Mehma Khalil again tells us also that the CBI said they were going to delete the zeros in August. 

That is two different guys who should be in the know stating the same thing that this will happen this month. The finance guy went also so far as to say that the CBI told him that they would also release the smalls. We know that is an impossibility at the current exchange rate. 

Tlar Continues: So what they both are insinuating is August will bring a big change to the currency. They both say that this information came from the CBI and this info comes on the heels of the one on one meetings Turki just had with all these guys over the last two weeks.. 

Again we see 30 trillion dinars which is the same number that has been repeated in all articles since early last year when Saleh used it. It is a stock number that the news uses again and again and will continue to use until a new number is finally reported by the CBI. 

The CBI has been very guarded in not releasing any new numbers and personally, I don't think they will release any new numbers before a change in the currency.

Tlar: , although the end result will be similar as both countries deleted the zeros, the act of Iraq doing so will be completely different from the way Turkey did it. In Turkey we see a true lop of the zeros off the currency bills themselves. 

Iraq does not intend to knock the zeros off the currency, but rather they will knock the "leading" zeros off the exchange rate (nominal rate". icon_wink.gif Of course then they will introduce the new lower denominations in which the zeros are removed. 

Iraq has stated the old currency will be at the new rate and will still be usable for at least the next two years. Removing 3 zeros from the exchange rate makes the rate .86. Effectively making a 1000 dinar note worth $860 dollars. 

A 5000 dinar note worth $4300, a 10,000 note worth $8600 and a 25,000 worth $21,500. 

Assuming they are following the original 2008 plan, it was though by Shabibi that these notes would be brought in to be swapped for the new currency. 

Most Iraqi's would set up bank accounts and only leave with enough smaller denoms that that they needed to operate with. 

This was Shabibi's plan to get Iraqi's using the banks again and to capitalize the banks themselves It was a win, win situation for the banking system in Iraq. 

The word "nominal value" has been used in relation to the phrase "delete the zeros" since late 2009. Removing the "leading zeros" was recently used in an article by an economist. 

The term "redenomination" first appeared to my knowledge in early 2010 and was used as a means to describe the releasing of the smalls. 

It was the term released to the forex's by the CBI and they always put the phrase up "Iraq intends to redenominate their currency by the end of 2010" at the bottom of the dinar listing. This is obvious that Iraq must add new lower denominations because of the increase in the exchange rate. 

It is just as obvious that an Iraqi will find it as burdensome as you or I would to walk in to a convenience store to buy $20 dollars worth of goods as you ask them to break a 5000 dinar note and give you change. 

He will be driven in to the bank because these larger bills will be almost useless day to day in transactions. One more thing. 

Shabibi stated that they we going to pring the new bills including the fils. 

It has been laid out to us numerous times along the way what the denominations were to be. He also considered pulling only the 5000, 10,000 and 25,000 notes as the banks target to be removed. 

He wanted to leave the 1000 to circulate as the interim note between the old and new exchange rates. Although he had said there were no plans to print a new 1000 dinar note, this note would be left to circulate even after the change in exchange rate. 

All other denominations including a new 50 would be printed under the new system. To summarize, Turkey was a lop. Iraq will be an increase to the exchange rate. Both require redenomination. 

One last thing. In June of 2008, Iraq's parliament voted to make 1000 fils equal one dinar. 

They could have made 100 fils equal one dinar. They chose the 1000 fils which if you look at the ME, almost all the high currencies have 1000 fils equaling 1 unit. This was the very first indication to me that Iraq had designs on a valuable currency. 

FULL ARTICLE & LINK:

Mehma Khalil called Central Bank currency structure project August 8, 2013 

Baghdad: Iraq news network called the Parliamentary Commission on the economy and investment the Central Bank of Iraq, the need to delete the zeros of the Iraqi currency after the land was available and exit Iraq from Chapter VII, and the economy is expected advantages and the results summary of Security Council-imposed penalty. 

The words of the Rapporteur of the Committee, MP Khalil mehma, in the presence of members of the Committee on the economy and investment, the Central Bank should start a currency structure as a purely economic issue. 

The Attorney said that the Iraqi Constitution between the need to change and delete the currency required by the economic situation of the country, and the public good, for Parliament and the Government to support the country's economic identity, expecting to witness the coming budgets increase and prosperity after the investment companies to Iraq, 

noting that Iraq is not the only country to delete zeros from its currency, the preceding example States Turkey and Lebanon have succeeded best When the economic situation resolution deleted zeros from their currency. 

the MP Khalil project delete zeros and the objections of the Central Bank and the Government of Iraq requested that wait till an appropriate time and after coming out of Chapter VII all justifications and arguments ended this project. 

in turn, the alaktasadet Committee member criticized Attorney Abdul Hussein abtan said project delays and the survival of the zeros in the Iraqi currency and It is not reasonable that the Iraqi Central Bank reserves of 76 billion dollars and now the net hoping to thousands. 

The CBI had said in August that it planned to delete the zeros of the Iraqi dinar to facilitate financial transactions made through cash. among the difficulties faced by Iraq if it wanted to delete the zeros of the dinar is pulling about 30 trillion dinars circulating in the Iraqi market is then discarded and replaced with a new currency.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fmalware-site.www%2F

 

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Thanks for the article...............but you lost me at "the need to delete the zeros........................etc"

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I believe we are at the end of this ride. But what they always get wrong when removing the three zeros (.00086 to .86) is that it is not 86 cents but rather $1.162. Example the Euro is currently .75 which in dollars is $1.338. It is the conversion rate which is divided into 1 to get the value in USD. Now this makes sense if they want their people to use the Dinar instead of the Dollar.

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Do it!! I need a ferrari now dang it!!!

Come get it here buddy! Go straight to the Maranello ( Modena) plant. Not too far from where I live  ( less than 200 miles).

 

Ferrari is of course great but  talking about aesthetic beauty... I admit I like more a Lamborghini Murcielago.

 

But really I'm not into cars... When I was younger.... yes....... Now I have reached the proverbial Peace of senses ( about cars!).

Edited by umbertino
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Nice RUMOR......wait is this the Rumor section?

Why would it be in rumor section ???? It's his opinion !!!!

Thanks Ron, I always like to read Tlar's opinions

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So its Tlars opinion that "They are INSINUATING (not factual) a big change is coming? Your right, that's not a rumor.

So what it says to me is " no RV yet!

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Come get it here buddy! Go straight to the Maranello ( Modena) plant. Not too far from where I live  ( less than 200 miles).

 

Ferrari is of course great but  talking about aesthetic beauty... I admit I like more a Lamborghini Murcielago.

 

But really I'm not into cars... When I was younger.... yes....... Now I have reached the proverbial Peace of senses ( about cars!).

When it comes to cars I will always be 20 umbertino! Yes the Murcielago is gorgeous.

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C'mon folks, I'm ready to buy my new 2-story double wide (lol)

 

If this were only fact - unfortunately,  innuendo won't pay for a "Cup of Joe"

 

We Wish

We Hope

We Wait

 

We enjoy Dinar Vets

 

We wait more

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Who is TLAR?  That's a new one.  Guru?  Something better?

Just another guru talking out of his arse lol......

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Just another guru talking out of his arse lol......

 

Indeed my friend !

Indeed my friend !

 

TLAR..........He forgot the i in TLIAR !  No ?

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Just another guru talking out of his arse lol......

Keep,  Tlar is not a guru.... this was a little snippet from a long thread on another site, just like at DV these were opinions going back and forth on that thread.  He has his opinion you have yours.... but you know what they say about opinions, they are like a$$holes everyone has one.   

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Keep,  Tlar is not a guru.... this was a little snippet from a long thread on another site, just like at DV these were opinions going back and forth on that thread.  He has his opinion you have yours.... but you know what they say about opinions, they are like a$$holes everyone has one.   

Yeah everyone has at least one.

Its just that SOME are gifted with more than one!

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I believe we are at the end of this ride. But what they always get wrong when removing the three zeros (.00086 to .86) is that it is not 86 cents but rather $1.162. Example the Euro is currently .75 which in dollars is $1.338. It is the conversion rate which is divided into 1 to get the value in USD. Now this makes sense if they want their people to use the Dinar instead of the Dollar.

 

.86 ....AAAAAND I will take that :bravo: ...but  $1.16  sounds even better :backflip: !!!! 

 

GOOOOOOOOOOO RV... and zeros... 

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Just another guru talking out of his arse lol......

He's not a guru Keep...I've pointed out numerous times that Adam is considered a guru on certain sites. There is nothing you can do about what someone wants to label you...

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When it comes to cars I will always be 20 umbertino! Yes the Murcielago is gorgeous.

That's great, my Friend ( that you are always 20 when it comes to cars)... I'm glad you agreed on the beauty of the Murcielago.

If you ever come visit here you could also  go check the Lamborghini plant. Not too far ( if I'm not mistaken) from the Ferrari plant.

Edited by umbertino

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We all know there have been and is still people/guru's that do get or have gotten kick backs to influence people to buy dinar.  We know who paid them.  There are other's who are stuck with the name guru just because they happen to have a different perspective on the dinar.  This does not mean their statements and their input is malicious or self serving, I believe some of them, Tlar being one does believe what he posts.  Tlar is a regular on Kaps site.  Tlar, Kap, and Enorrestte do not always agree on how this is all going to come to an end.  They do research, they gather the information from these articles, which often are like translation puzzles.   In the end because of the translations, you are left with an opinion.  This is what we do here on DV, same thing, and I would certainly not consider any one of us Guru's.  We are not getting kick backs from sellers, we are just hoping to find some nugget of truth.

 

I suppose Tlar and company, including us may be reading and interpreting to validate for what we are hoping for.   However we cannot trash the RD interpretations either, unfortunately Iraq seems to be announcing this is the direction they are leading to.....or are they misleading us?  It would not be the first time Iraq has mislead, how many times has Talabani died and lived again since his stroke?  Too many to count!  

 

I happen to like the news Kap brings over, he is very thorough but I also read his interpretations with my skeptical glasses.  Not because I think he is trying to influence me to buy more dinar, but does it make sense to me.  

 

At the end of the day, I am left with two scenario's......we know which two I speak of, and guess what....I have no ******* clue.  However I do have, and Keep, Yota would agree with me, if there is no ISO code, we are still in the ball game.  The ISO code is the marker for what is going to go down.  Having said that, if they are going to delete zero's in August.....we are in good shape.  It takes about three months to apply and register the new code.  That would mean they will be still using the currency we hold, that is what we want.  

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