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Economic committee member urged CBI to resume the project of deletion of zeros from Iraqi dinars 09 Aug 2013


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Economic committee member urged CBI to resume the project of deletion of zeros from Iraqi dinars

09 Aug 2013

 

Parliamentary commission of economy and investment of the Central Bank has been called by Iraq news network, in order to discuss the significance and process of deletion of zeros from the Iraqi currencies. It has to be noted that Iraq has recently got freedom from the sanctions of Chapter VII and according to the economic experts; it is advantageous to make decisions regarding restructuring of Iraqi currency at this moment. As the sanctions have been withdrawn, it is expected that Iraq will gain more business power in the world and will soon become a popular place for business venture.

In the presence of members of the Committee on the economy and investment, MP Khalil mehma stated that the Central Bank should start a currency structure as a purely economic issue. The Attorney pointed out on this issue that Iraqi constitution should be changed accordingly if Iraqi dinar has to be reformatted. He also mentioned that Iraq will be the first country to take this initiative of deleting zeros from its currencies. The government of Iraq has taken some significant steps to build the future of Iraq on the foundation of the foreign investments into the country. Central Bank’s initiative to omit zeros will make the economy of the country stable and certainly will help the investors. Not only that, the common people of Iraq will also be benefitted if such measures take place in near future as this will lead to price stability of the market goods.

MP Khalil also added that the project to omit zeros from the currencies of Iraq was pending due to the obligations of chapter VII. According to him government and the Central Bank of Iraq should rethink on this matter and should take swift measures to strengthen the economy of Iraq. Attorney Abdul Hussein abtan said project delays and the survival of the zeros in the Iraqi currency is reasonable as the Iraqi Central Bank reserves of 76 billion dollars and now dealing in thousands.

In the month of August of last year, the CBI stated that it was then planning on omission of zeros from the Iraqi currencies. The deletion of Iraqi dinar will facilitate financial transactions made through cash. However, there is a bigger challenge in the way of deletion of zeros from the Iraqi currency. Presently, more than 30 trillion dinars circulating in the Iraqi market which have to be discarded and replaced with a new currency. This task would not be easy, as opined by experts and observers.
 
Updated 09 Aug 2013 | Soruce: AIN | By S.Seal

 

http://www.iraqdirectory.com/en/2013/08/09/24751/economic-committee-member-urged-cbi-to-resume-the-project-of-deletion-of-zeros-from-iraqi-dinars.aspx

 

So what does the BLUE part mean?

Did they forget about Turkey and the other countries that dropped 0's Iraq won't be the first to do that "LOP" or is it that what they are about to do is different and they will drop the 0's after the decimal .00086

 

This article was not translated by Google either, you pick English on the site.

 

Things that make you go Hmmmm..... They're up to something.... Shouldn't be much longer :eyebrows:

 

DropItLikeItsHot  GO RV  :twothumbs:

 

 

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Kazem Al-Shammari calls for setting a date to reset Iraqi currency

09 Aug 2013

 

Kazem Al-Shammari, spokesperson of white parliamentary bloc has urged for making an appointment to reset the Iraqi currency.
In a press statement, Al-Shammari stated that the high volume of reserves of Iraq from foreign currency to $ 76 billion in addition to the 30 tons of gold bullion, and out of Iraq from Chapter VII, make it necessary to set a date to reset the Iraqi currency.

He further added that the investment of this reserve big help to raise the value of the Iraqi currency compared to foreign currencies. It will also help to reduce the price of the essential commodities in the general Iraqi market as most of the Iraqi goods are being exported from the foreign nations. This will help the common Iraqis who are struggling to but essential commodities with the price rise due to high exchange rate of Iraqi dinar in compare to foreign currency, like the US dollar.

To improve the overall living standards of the common Iraqis, it is very much necessary to reset Iraqi currency, as opined by Al-Shammari. To some extent, due to low price in the marketplace for the commodities will also eradicate crimes and terrorism issues from the country, as hoped by Al-Shammari!
Updated 09 Aug 2013 | Soruce: Mustakbal | By S.Seal
 
 
BIG word RESET  :bravo:
 
DropItLikeItsHot  GO RV :twothumbs:
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good spot for a talk about what that blue part means !   the only country that will do the zero`s  from it`s currency,   for this to be true I would have too say they are talking about the rate of exchange  .ooo86  !  everyone knows about turkey and the other guys who pulled the l-o-p  deal, and I would have a good guess that Iraq bankers also know that too !  so when he mentioned the delete and only country to do so ,  he really seems to be on the idea of .ooo86 <------ drop zero`s brings the .86 up too the exchange of 1.16 per dinar against the dollar ,  { so why do they not just come on out and say ------> the Iraqi dinar will now be valued at 1.16 per one dinar starting ----> in 5 minutes  :)   with this , I would have to agree with most folks here , they would have a huge rush on buying  dinar money they would not be able to keep up ..} so I am inclined to think a lot of this lift zero`s might be just a lot of double talk and smoke screen to keep Iraq from being over run with opportunistic folks ...

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This article was not translated by Google either, you pick English on the site.

It ought too...Little Info on this site.....

WHOIS search results for:IRAQDIRECTORY.COM(Registered)

 

 
Domain Name: IRAQDIRECTORY.COM

Registrar URL: http://www.godaddy.com

Updated Date: 2013-01-23 03:47:18

Creation Date: 2002-05-13 14:45:45

Registrar Expiration Date: 2014-05-13 14:45:45

Registrar: GoDaddy.com, LLC

DomainStatus: clientDeleteProhibited

DomainStatus: clientRenewProhibited

DomainStatus: clientTransferProhibited

DomainStatus: clientUpdateProhibited

Registrant Name: Registration Private

Registrant Organization: Domains By Proxy, LLC

Registrant Street: DomainsByProxy.com

Registrant Street: 14747 N Northsight Blvd Suite 111, PMB 309

Registrant City: Scottsdale

Registrant State/Province: Arizona

Registrant Postal Code: 85260

Registrant Country: United States

 

 

This site is Like a few other site...all about the Click....Traffic...Piece news is what I refer to them...Piece of this article and piece of that article....and this is JMO Thanks for the Post.... 

Edited by yota691
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If they are thinking of changing the constitution,then it will never rv.articles like this one have good signals and very bad signals.they don't know what they are doing at all and i Don't think that the IMF is involved as people want to think.


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At the bottom of the first article it says Source:  AIN.

 

At the bottom of the second article it says Source:  Mustakbal.

 

 

We know those are Iraqi websites.  ;)

Piece of this article and piece of that article....must include source or its call 

Plagiarism 

Edited by yota691
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Wow! Another pretty promising article...hopefully the source is reputable. I did catch this from another article from a couple days ago...

 

 

 "In an attempt by the Government to improve the Iraqi currency, intended to delete the three zeros is pricing exchange rate 1.16 against the dollar, the dinar would replace the State budget $ 172 billion dinars, or the equivalent of about $ 150 million, and the Government is preparing to perform this step with the adoption of the "new dinar" requesting an order from the Central Bank to raise its value gradually down to be equal to the dollar. "

 

 

You'll notice that they describe the rate 1.16 as a result of dropping the zeros...not to mention the term "gradual" suggests a float. Pretty interesting stuff and it all kind of coincides with what I offered as the yesterday as a possible breakthrough in the dictionary meaning of "delete the zeros" in that that phrase means "leading zeros" in Arabic.   :twothumbs:

Edited by Hairball51
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Everyone, I believe the Iraq Business Directory article at top of this thread, is based on this article..

 

 

Mehma Khalil called Central Bank currency structure project
August 8, 2013 In economic
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 bestWhen 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 forIs it reasonable that the Iraqi Central Bank reserves of 76 billion dollars and now dealing in 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://aliraqnews.com/2013/08/%25d9%2585%25d8%25ad%25d9%2585%25d8%25a7-%25d8%25ae%25d9%2584%25d9%258a%25d9%2584-%25d9%258a%25d8%25b7%25d8%25a7%25d9%2584%25d8%25a8-%25d8%25a7%25d9%2584%25d8%25a8%25d9%2586%25d9%2583-%25d8%25a7%25d9%2584%25d9%2585%25d8%25b1%25d9%2583%25d8%25b2%25d9%258a-%25d8%25a8%25d9%2585%25d8%25b4%25d8%25b1%25d9%2588%25d8%25b9-%25d9%2587/

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Everyone, I believe the Iraq Business Directory article at top of this thread, is based on this article..

 

 

Mehma Khalil called Central Bank currency structure project

August 8, 2013 In economic

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 bestWhen 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 forIs it reasonable that the Iraqi Central Bank reserves of 76 billion dollars and now dealing in 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://aliraqnews.com/2013/08/%25d9%2585%25d8%25ad%25d9%2585%25d8%25a7-%25d8%25ae%25d9%2584%25d9%258a%25d9%2584-%25d9%258a%25d8%25b7%25d8%25a7%25d9%2584%25d8%25a8-%25d8%25a7%25d9%2584%25d8%25a8%25d9%2586%25d9%2583-%25d8%25a7%25d9%2584%25d9%2585%25d8%25b1%25d9%2583%25d8%25b2%25d9%258a-%25d8%25a8%25d9%2585%25d8%25b4%25d8%25b1%25d9%2588%25d8%25b9-%25d9%2587/

I don't like what this is saying at all.

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Vomer, everything's a manipulation, especially now.  I've posted this article to show that Iraq Business Directory has manipulated the information, as perhaps this aliraq site has too. 

 

many articles, in the past month, which have been attributed to Khalil Mehma (sp?), are widely ranging on their perspectives..it's one person's opinion - and then another person's if manipulated even further.

 

And I agree, Vomer..the Lopster's will have a field day with this one.  It's controversial and I think it's been manipulated...go to the site and listen to the Arabic music playing..lol.

Edited by TBomb
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I don't like what this is saying at all.

Actually, I did too, until I read a little closer to how it is worded.  I know it's a translation, but if you pay attention to the words "if it wanted to" and "difficulties," You can see that there has to be a step to pull in the Dinars, IE, make it worth trading in so that people will want to get rid of it.  And if this is a difficulty, then it won't be just as easy as cutting off the zeroes and making the notes worthless.  Another thing is how useless the step would be.  They said they want to help facilitate transactions, and if like say... A loaf of bread went down to 2.00IQD after the RV, then it would be impossible to pay for it when your lowest note is a 50.  You couldn't make change.  Looking at it from the other side, if they were to ONLY change the value of the notes, and not RV, keeping the same 1166 number, then it would be HARDER, not easier for the average citizen to buy a loaf of bread, because you would have a ton of these small notes, but you'd have to produce those ridiculous numbers they pay for groceries now, but with small notes.  It's less convenient.  It's also why I think these cards are being issued.  It will be a way for people to pay for things without cash, since it will take quite some time to pull in all the large's, count them, and discard them, then print the smaller ones to reissue in their place. 

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"many articles, in the past month, which have been attributed to Khalil Mehma (sp?), are widely ranging on their perspectives..it's one person's opinion - and then another person's if manipulated even further." - by the journalist, I meant to add.

 

Yukon..thank you so much for your work on this.  I'm not a financial analyst, so I very much admire people who can do what you just did. 

Edited by TBomb
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"many articles, in the past month, which have been attributed to Khalil Mehma (sp?), are widely ranging on their perspectives..it's one person's opinion - and then another person's if manipulated even further." - by the journalist, I meant to add.

 

Yukon..thank you so much for your work on this.  I'm not a financial analyst, so I very much admire people who can do what you just did. 

You're welcome :) No trouble at all, friend. 

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