Bondlady chat on the recent "Deletion of the Zeros" articles - 11-19-2013

[TBomb]

[tlm724] good afternoon everyone I want to take a few minutes to talk about the recent statements by Finance Committee member Abdul-Hussein al-Yasiri who recently said on Novemebr 17th 2013 and I quote " "the application of the decision to lift the zeros, will contribute significantly to reducing the monetary blocs to quarter, which coincides with the increase in the value of the Iraqi dinar." He explained that "the Central Bank informed that he strives to accelerate the implementation of the project beginning in 2014."

[tlm724] I was curious as to any previous statements by Yasiri and did some reading in the forum and want to show you a few articles. Our trip back in time will begin on 9/18/2011 which was Pre-Timmy by the way lol and come back to today so with that lets begin. I will try to be as a brief as possible lol and only show the relative sections of the articles and remember these are all statements from Yasiri 

Yasiri MP: Iraq suffers from mass accumulation of cash .. and warns of counterfeit currency through the deletion of zeros
18/09/2011 AD - 11:59 AM 

The Yasiri that Iraq suffers from the accumulation of money supply and that up to (3) trillion Iraqi dinars, likely that accompany the process of deleting zeros set of problems, particularly between the creditor and the debtor that is, when asked one million, the other paid by him a thousand dinars, therefore it does not accept any of that, he said, is that fraud will also be in this project, as happened in the year (2004) when you switch the currency broke with many problems, calling Yasiri the central bank to take the time to this project and not to speed up the application, and the need to explain in detail and put the results to be assured of economic and Iraqi citizens. 

http://www.burathanews.com/news_article_136458.html

[tlm724] this shows at that time, Sept 2011, there were 3 trillion dinar out and Yasiri is saying take your time do this the right way. But there are conflicting numbers about the amount of dinars out , have a quick look at a statement from Saleh 

Iraq urged international bodies to repair the financial system - the central confirms the currency exchange in 2013 and refers to the recovery Yasiri dinar

9/25/2011 3:49:57 PM
Baghdad Constitution

Central Bank announced that in 2013 will delete the zeros and the currency exchange, pointing out that the current currency formed a cluster of large cash estimated at 30 trillion dinars. The deputy governor of the Bank the appearance of Mohammed Saleh said the central bank's strategy of deleting three zeros and the currency exchange will be at the beginning of a new year and new budget of the Iraqi state, and expected to be the currency exchange in the new fiscal year for the year 2013.


http://www.daraddustour.com/%D8%A7%D9%84%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84/tabid/94/smid/433/ArticleID/57344/reftab/61/Default.aspx

[tlm724] I am sure there are not that many notes left in circulation now. Note the reference to 2013 for the project, Next article:


Abdul-Hussein al-Yasiri: Changing the currency or the need to delete the zeros of the law of the House of Representatives
21/11/2011
BAGHDAD (Iba) ... A member of the House of Representatives for the coalition of state law,  The change of currency, or delete the zeros need to be the law of the House of Representatives, especially in the announcement by the Iraqi Central Bank said that in 2013 would be appropriate to delete the zeros. He Yasiri told the independent press (Iba) The Central Bank set up in 2013 to implement his plan to delete the zeros from the currency in order not to damage the Iraqi economy and citizens, if implemented during the current period and we hope to meet the bank's obligations are to serve dealers and not to damage them. Yasiri that the bank's plan depends on the launch of the new currency the deleted zeros with the currency of existing now slowly are dealing with the new currency without causing any damage to the economy or the citizens and would cost the process $ 150 million. and varied views of a number of those who follow economic affairs of Iraq on the impact, positive or negative for the deletion of three zeros from the currency current between be positive to reduce the case of inflation and between passivity on the resource of living of citizens.



http://ipairaq.com/index.php?name=inner&t=economy&id=46225 

[tlm724] Looks like Yasiri was taking his cue from what Saleh said in Sept that The Central Bank set up in 2013 to implement his plan to delete the zeros from the currency. Now obviously that didn't happen lol . Let's fast forward now to 2012 lol almost done.



Yasiri: to convene a conference to prepare the mechanism of the Central Bank on the issue of transfer of funds abroad
18/08/2012 11:07

The member of the Finance Committee, the parliamentary deputy coalition / State Law / Abdul-Hussein al-Yasiri to "a conference co by economists to prepare a mechanism for the central bank on the issue of transfer of funds abroad." Yasiri said in a press statement today, "said Finance Committee formed a sub-committee to follow up the work Central Bank We have directed to the bank a number of inquiries and investigations in the forefront of selling currency and what the point of sale of such quantities of high and these auctions are. " He Yasiri "The committee was discussing with the central bank to change and re-printed currency and delete zeros and what is intended and what are the companies that deal with the Central Bank to re-print the currency as well as to the existence of assets belonging to Iraq as the central bank deposited in international banks an estimated $ 67 billion and what the interest of keeping this money and Iraq today need it.

http://www.iraqidev.org/news/index.php/%D8%B3%D9%8A%D8%A7%D8%B3%D9%8A%D8%A9/18392.html

[tlm724] The reason I bring up this article is because Yasiri is actually showing us his hand here, look at this one sentence " Yasiri said in a press statement today, "said Finance Committee formed a sub-committee to follow up the work Central Bank " Yasiri is on a sub committee working with the CBI and discussing with the Central Bank "to change and re-printed currency and delete zeros and what is intended" ! My point is this ,Yasiri is in a position to have access to vast amounts of information. Note article date 8/18/2012. Also reserves are currently $83 billion.. fast forward again then we'll bring this baby on home !


13:00 17/11/2013
Central Bank has submitted to the Finance Committee zeros currency beginning of 2014
Baghdad - and babysit - told the Iraqi Central Bank, the Finance Committee in the House of Representatives that he will try to raise zeros from the currency beginning in 2014.

Said committee member Abdul Hussein al-Yasiri in a press statement that "the application of the decision to lift the zeros, will contribute significantly to reducing the monetary blocs to quarter, which coincides with the increase in the value of the Iraqi dinar."

He explained that "the Central Bank informed that he strives to accelerate the implementation of the project beginning in 2014."

Yassiri added that "the central bank demands to accelerate the application of the decision to lift the zeros, in order to reduce the problems that occur due to the continuation of the current currency trading"

http://www.****************.com/t83676-central-bank-has-submitted-to-the-finance-committee-zeros-currency-beginning-of-2014

http://alrayy.com/97426.htm

[tlm724] As I said when the above article come out and the denial articles  followed I believe that Yasiri is a man in the know. Can I be wrong ? Absolutely ! Has Yasiri made this kind of statement before? Yep just showed you all ! I want to show you today's article and my comments


Finance Committee exclude the implementation of the project to delete the three zeroes from the currency early next year 19-11-2013 05:05 AM

Baghdad (news) .. I exclude a member of the Finance Committee MP / National Alliance / Abdul Hussein al-Yasiri, an application project to delete the three zeroes from the national currency in 2014, indicating that the current administration of the central bank believes the time is not suitable for implementation of the project. Yasiri said (of the Agency news): that of its parliamentary When I asked the previous administration of the Central Bank from the date the application of the project to delete the three zeroes, they replied that the year 2013 will see the completion of all the procedures for the project Kalag with companies that printed currency, etc., and the year 2014 will witness the application. continued: But the current administration of the Central Bank has confirmed that the time is not right for the implementation of the project in 2014, and because there are conditions to prevent the bank from the implementation of the project over the next year. pointed to: that some media quoted story that that the central bank told the Finance Committee that the implementation of the project will be the beginning of the year 2014, while this news Nude of Health , calling on the media to exercise precision and caution in the dissemination of news. This has reports suggested that the central bank told the Finance Committee parliamentary date for the application of the project to delete the three zeroes early next year, to the surprise of the current administration of the Bank and the Finance Committee representative.



http://www.ikhnews.com/index.php?page=article&id=108389

[tlm724] Yasari is the one who said the CBI told him the project would be launched the beginning of 2014

Now this art is saying this, that he was basing his statement on what Shabibi (the former administration) told him and indicating that the current administration of the central bank believes the time is not right for the project application. Look at this "When I asked the previous administration of the Central Bank from the date the application of the project to delete the three zeroes, they replied that the year 2013 will see the completion of all the procedures for the project Kalag with companies that printed currency, etc., and the year 2014 will witness the application"

I'll just be straight up here, give me a break, you can't tell me Yasari doesn't know the current status , are they saying he doesn't communicate with other members of the FC or that he doesn't read the news ????? really !! quoting Shabibi I don't buy it !! IMO  we won't have to wait long to find out the CBI's intentions with this project. I think they are covering a mistake but that is my opinion. I am not saying the project will launch in the beginning of 2014, not many people know those facts, I am just saying something doesn't fit here. Yasiri sits on the sub committee !! Hello....


[tlm724] Yasiri sits on the sub committee !! Hello.... that's all I got         

[bondLady] yasiri spoke when he wasn't suposed to    

[tlm724] exactly BondLady    

[bondLady] u go boy

[tlm724] tell em BL    

[bondLady] tyvm timmy print it     

[tlm724] BondLady ok ty   

[bondLady] stamps a seal of approval on timmys chat an sends it to the printers
 
[lightingcslt] tlm724 excellent, nice job

[bondLady] very

[tlm724] tyvm !

[SnowGlobe7]

Bondlady should be brought over more often..thanks for this!!!!!

[kennyc]

Great chat. Looks like they may be on to something here. Really like the way BL breaks things down.

Go RV

[Frogee]

Sorry guys and girls, if you do not follower her you are missing some great info

[keepmwlknfny]

LOL......

[DinarThug]

LOL......

 

[bondLady] u go boy

 

              

[sandfly]

THANKS

[Driver]

and Beans 

[magawatt]

Maybe Yasiri was speaking out of turn..or maybe he spilled the beans to force the issue. In either case the "2015" statements seem like a frantic try to obfuscate their true intentions.

[AmericaInc]

Frankly a simpler view suffices...they haven't RD'd yet, but they could have years ago to stop the problem of too many high denom bills out there - they haven't. WHY? They say they aren't stable enough, electronic banking isn't in yet...Money laundering/counterfeiting/terrorism concerns are NOT concerns of a worthless currency...

 

And they are in the rare position of being under IMF and UN constraints/articles and must be toeing the line for the international powers that invaded them.

 

Combine these thoughts with the idea that Iraq is in the rare position of having dual currency and all its big contracts are in dollars. They can change their currency(s) by decree and change the dinar, while stabilizing the economy during the process by using dollars (in fact they could have done this in an RD years ago too)

 

Also recent issuance of bonds indicates a currency change must come soon, or those bonds might mature under a different currency regime and the payout would be enormous.

 

So Iraq is NOT like all the countries Keep and other lopsters keep piling on us, and saying this is how it must go...Iraq is a different bird. 

Edited November 20, 2013 by AmericaInc

[DinarThug]

Here's Some Additional BondLady So That Keep Can Continue Getting His Jollies ...

 

 

 

11/20/2013

 

 

Subject: BondLady and Administrators Chat

[tlm724] lightingcslt lemme give ya one summary of my thoughts please

[Dogznova] they playin with us

[lightingcslt] tlm724 please do

[tlm724] lightingcslt ok ty this is the way I see it , we ALL have valid points let me explain

[tlm724] BondLady says we need to the laws and I agree, we need the Banking laws amended to comply with several points 1. modern banking strategies and international banking requirements 2. Basel compliance 3. to comply with the IMF requirements for reform 4. and because some of them no matter apply , next is this

[tlm724] DogzNova has shown me his research and he has also has a valid point, they DO indeed go by a schedule , now are they continuing with the schedule no one knows but again his research is very accurate so I see his point as well, next
...
 

 

[tlm724] My personal thoughts are these and you share in many of them lighters. I believe like I said there will be series of events, many already happening now, that will come about to show us what we seek, namely, laws being amended, the launch of the plan for the new currency and increase in value and the electronic system being turned on

[tlm724] I don't mean to say I know anything for sure because I do NOT, no one does ! I am just trying to think logically about all the possible scenarios and considering Shredds opinions and vast banking experience as well..

[tlm724] this team is brilliant and all things considered I think we have a good handle on this thingy

[tlm724] lightingcslt and yes you may be right and it is certainly possible thats this could indeed be fast tracked !! We will wait this out and thank God we are all together and have the best damn leader out there !

[Dogznova] IMO some things definitely still need to be done.. we shall see real soon if they can wam bam them all real fast...

[lightingcslt] tlm724 there is one problem

[bondLady] ty timmy that was a great summary of fact

[tlm724] BondLady yqw

[Dogznova] sure was

[tlm724] lightingcslt whats that ?

[lightingcslt] if they need laws passed for anything to happen to make their currency into a international currency then it will be sometime before it is they hate each other imo

[Dogznova] lightingcslt that's just opinion though... they could surprise all of us and pass them next week...

[tlm724] lightingcslt I don't think so , you forgot the CBI IS changing the laws NOW !

(News & Announcements - 2013)
Assesses the Iraqi Central Bank Workshop on proposals to amend the Banking Law and the Law of the Central Bank of Iraq and the anti-money laundering law for the period from 11/24/2013 -2013/11/28 and receive suggestions and views on amending the laws listed on the e-mail (Cbi@cbi.iq)
2013 / 11/17)

[bondLady] they can hate all they want to but at some point it'll go to the feds for a decision if they can't make it for their childish selves

[lightingcslt] BondLady then why haven't they done that yet?

[Dogznova] that's exactly what we are looking for.. Any change in CBI law

[bondLady] because their still hashing them out. Iraq doesn't progress on our level of speed, you have to NOT forget that they move at their own laid back time, no matter how important they will not move fast they and their culture believe 1000% they have to go in from every single angle until there's just nothing left to discuss in them and then they will pass it

[bondLady] don't forget also they are a very paranoid people who feel like everyone is out to separate their wealth from them

[bondLady] and they have to exhaust themselves until they feel its minimal what they could lose but mega what they could gain

[tlm724] BondLady the GOI said they will support the CBI in anything they need so

[bondLady] yes

[tlm724] when the CBI makes the final amendments to the banking laws then the GOI should have no issues with them imo

[bondLady] I feel that's so too

[tlm724] oh good ty

[RCS1947] good point

[tlm724] BondLady I do have a question though please

[bondLady] ok

[tlm724] do you feel that the Banking and anti-money laundering law etc ... the laws the CBI has control over, will be enough to satisfy the CBI's need for the currency reform?

[bondLady] when they pass the deposits law also then yes probably imo

[bondLady] kinda look at it from this point of view, the average Iraqi is very untrusting, they know how corrupt people of Iraqi power are

[tlm724] okay I was thinking along those lines but I forgot about the deposit law, kinda like our FDIC ty

[bondLady] they saw how much money would disappear from banks so they have to get the trust of the people and by passing the deposit laws.

Then the deposit laws will insure and assure the people that if you put your hard earned pay check in our bank it will still be there when you need it and they won't charge them an arm and leg for keeping their money safe.

So there was a article, I think today, about the Rasheed bank and said you put in money and they was charging them too much for keeping it, see this requires the deposit law

[tlm724] yes

[bondLady] there complaining you put say 20,000 dinar in and the bank keeps 5,000 of it

[tlm724] would definitely discourage me from making a deposit

[bondLady] yes, so this is a important law they have to gain the trust

[tlm724] as well as actually increasing the banks capital with those deposits

[bondLady] and the people do or did respect the CBI governor, the people used to have a lot of confidence in anything the CBI gov did or said so if Shabibi told them what he was going to do the people respected what he said and I hope the same respect would go per Turki. Like Shabibi once said everyone listens to the CBI gov when he speaks so he had to be careful what he said

[bondLady] anywhos great chats today and debates/discussions timmy and tyvm

[tlm724] my pleasure always BondLady

 

               

[sandstorm]

deleting zeroes means only one thing. anyone involved in the real currency world knows that.

please call every economics teacher in the world, they will only tell you one thing.

anyone who says otherwise, shouldnt be talking about currencies in the first place

you can take that to the bank.

anybody who wants to bet, im all in.

heres the bet, if deleting three zeroes happens the way it always has, you owe me $25,000 cash.

if deleting three zeroes happens and is a 100,000% rv of the dinar, i will give you 1 million dinar that would be worth $1,000,000.

any takers ?

[R2D2]

  Nothing else to say!

[sandstorm]

heck i dont id collect when i win the bet. id probably have to sue, and the judge would deem i made a bet i couldnt lose, and would dismiss it.

[caz1104]

deleting zeroes means only one thing. anyone involved in the real currency world knows that.

please call every economics teacher in the world, they will only tell you one thing.

anyone who says otherwise, shouldnt be talking about currencies in the first place

you can take that to the bank.

anybody who wants to bet, im all in.

heres the bet, if deleting three zeroes happens the way it always has, you owe me $25,000 cash.

if deleting three zeroes happens and is a 100,000% rv of the dinar, i will give you 1 million dinar that would be worth $1,000,000.

any takers ?

Ok Fib ( he's used that same line countless times) - LOL  seriously come on now

[keepmwlknfny]

Frankly a simpler view suffices...they haven't RD'd yet, but they could have years ago to stop the problem of too many high denom bills out there - they haven't. WHY? They say they aren't stable enough, electronic banking isn't in yet...Money laundering/counterfeiting/terrorism concerns are NOT concerns of a worthless currency...

 

Dont forget the GOI has to approve the plan and they cant agree on squat let alone when they believe the best time to do it is. I dont know about you but my dinar arent worthless.....my 25k note is worth just over 20 bucks. Free money from a fake is free money no matter how you slice it. Do you know what the most counterfeit bill is here in the states? Ill give you a hint.......its the 20 dollar bill!!!!!!  So how can you sit there and say that no one would counterfeit the dinar??  Especially when you have so many dinarians that would eat this stuff up because of people like TNT and Okie. And if you can get those by people at the bank during an exchange of currency, you are pretty much again getting free money and it creates a problem for the CBI because they are printing enough of the new currency only based on what they have printed/issued. Its a legitimate concern.....

 

And they are in the rare position of being under IMF and UN constraints/articles and must be toeing the line for the international powers that invaded them.

 

Toeing the line for the international powers that invaded them? lol......we got what we wanted out of this......control over oil fields and getting our US based oil producing companies back in the door....

 

Combine these thoughts with the idea that Iraq is in the rare position of having dual currency and all its big contracts are in dollars. They can change their currency(s) by decree and change the dinar, while stabilizing the economy during the process by using dollars (in fact they could have done this in an RD years ago too)

 

Having a dual currency is far from being rare my friend. It happens all over the globe. Unfortunately they cant just change the value by decree.....it doesnt work that way.

 

Also recent issuance of bonds indicates a currency change must come soon, or those bonds might mature under a different currency regime and the payout would be enormous.

 

Another false pretense......doesnt indicate a thing. Value of a bond is easily transferable no matter what the currency. 

 

So Iraq is NOT like all the countries Keep and other lopsters keep piling on us, and saying this is how it must go...Iraq is a different bird. 

 

If you want to point fingers, point them at the CBI.....they are in fact the biggest "lopsters". You think that I or any others just make up countries out of the blue to compare Iraq to? No......where do you think we get them from??    THE CBI!!!!!!  Its the CBI that uses these other countries that have lopped zeros to compare their own plan of action to. Pay closer attention to the articles you read. Tons of them reference other countries. No one is making this stuff up. And at least for myself, I have never said this is exactly how it has to be done. Thats an ignorant statement. Its simply the only plan of action the CBI is talking about.

Edited November 20, 2013 by keepmwlknfny

[lost one]

Keemp'em is only here for one reason, and one reason alone....to say I told you so. For this will feed his ego, frankly I wonder how he fits through a door sometimes. But if it RV's he will fade away like a ghost in the night. I'm sure he still has dinar, just in case.

[keepmwlknfny]

Keemp'em is only here for one reason, and one reason alone....to say I told you so. For this will feed his ego, frankly I wonder how he fits through a door sometimes. But if it RV's he will fade away like a ghost in the night. I'm sure he still has dinar, just in case.

Such a close minded thought.....Im not even sitting here telling you I know whats going to happen so why would this be a "I told you so" type of thing? lol.....

 

Dont direct your anger at me, save it for the CBI IF they follow through with what they have been telling us for years now.....

[AmericaInc]

Keep - thanks for the debate. Your first answer is weakest.

You only answered part of it - they are gonna want counterfeit twenties...what about Iraq's answer to the RV/RD delay?

"We have to get the banking, intl. laws, HCL, anti money laundering, blahhhhh....and everything else in order so we can...

 

 

RD?

 

Come on, man. They don't need that to RD.

[lost one]

Such a close minded thought.....Im not even sitting here telling you I know whats going to happen so why would this be a "I told you so" type of thing? lol.....

 

Dont direct your anger at me, save it for the CBI IF they follow through with what they have been telling us for years now.....

I do believe you meant to say closed minded thought....I'm not picking on you. but your opinion leans toward a lop. And anytime you see an opinion towards not a lop, you come out of the wood work......just saying...but I agree that the CBI are the ones that are making this thing drag on and on...sometimes I think they are just baiting everybody into believe'in that they will do something.Or could it be that they know we watch the CBI for change. HMMMMMM.

Edited November 20, 2013 by lost one

[keepmwlknfny]

Keep - thanks for the debate. Your first answer is weakest.

You only answered part of it - they are gonna want counterfeit twenties...what about Iraq's answer to the RV/RD delay?

"We have to get the banking, intl. laws, HCL, anti money laundering, blahhhhh....and everything else in order so we can...

 

 

RD?

 

Come on, man. They don't need that to RD.

My first answer is also the truest. Like it or not your dinar has value....and as long as it has value, people will and have been counterfeiting it. And when your replacing a currency its a valid concern with the amount of corruption involved with Iraq. To think it has no bearing is ignorant and would be ridiculous not to take into consideration. If I have people wanting to make money, I could slide by tens of thousands of dollars worth of counterfeit bills in exchange for real money through just one person. Now think about it mafia style....how many people they could have being paid to let certain people exchange counterfeits while you turn a blind eye. You do this on a large scale and you got issues.  I was making a reference to our 20 just to show that you dont have to have a huge value on a bill to make fakes. Each bill you hold has a value and if you print enough of them, you have a nice stash of "free" money to slide by the unexpecting eyes of many.

 

I dont think anyone has the real answers on why they havent done anything. Thats why we are here....speculating....if you go by what the CBI and GOI is saying, its all a matter of the GOI deciding on the proper timing to RD, its all in their articles.....and they have no intentions of revaluing.....if they did, probly wouldnt be sitting at 1166 right now.

 

And Im not saying they have to RD or that its their only choice.....cause your right....they dont have to.....but its about all they are concerned with....taking the easy way out. If you were the CBI how would you do it? Take the easy way out to start over at a buck? Or be on the hook for exchanging billions of dinar?

I do believe you meant to say closed minded thought....I'm not picking on you. but your opinion leans toward a lop. And anytime you see an opinion towards not a lop, you come out of the wood work......just saying...but I agree that the CBI are the ones that are making this thing drag on and on...sometimes I think they are just baiting everybody into believe'in that they will do something.Or could it be that they know we watch the CBI for change. HMMMMMM.

Well my opinion is that a lop is more likely.....which it is....we are just speculating on whether the CBI is lying or not....thats what Its coming down to!

[WorkerBee]

http://www.unc.edu/~lmosley/APSA%202005.pdf

 

 

 

Furthermore, for those nations that do adopt redenomination as a strategy ñ and 

particularly those that redenominated at the end of an economic reform progress ñ there are 

substantial variations in timing. The lag between the appearance of high inflation, or of high 

local currency/dollar ratios, and of the removal of zeros from the currency varies. Poland, for 

instance, experienced its highest levels of inflation in 1989 and 1990; redenomination did not 

occur until 1995. Similarly, Romaniaís inflationary years were in the early and mid-1990s, but its 

redenomination occurred in July 2005, perhaps more as a signal of its interest in taking part in 

EMU than as an effort to reassure its citizens that hyperinflation was no longer a threat. 

 

 What, then, explains the use of redenomination by developing and transition nation 

governments? Why do some government eschew redenomination in the face of, or after the 

resolution of, high inflation, while others embrace it? And why do some nations embrace 

redenomination, but with a long lag? What might explain, for instance, the fact that Bolivia 

removed zeros from its currency in 1987, less than two years after successfully launching a 

stabilization program; while Poland waited five years between the introduction of its (also 

successful) stabilization program and the dropping of zeros? How might redenomination serve 

as a signal, both to domestic constituents and to external market participants? And is there a 

connection between redenomination and national identity? The following section explores three 

sets of mechanisms that might influence redenomination ñ credibility, domestic politics, and 

identity.

 

 

 

I keep reading that Iraq is "different" but when it comes to re-denominating, (dropping zeros) and the reasons for it I don't understand that argument.  

 

I realize the link to the published paper above has been posted before but it really is a good read if you want to understand and educate yourself on what re-denominations are and what the true purpose is.

[zul]

5 yrs ago in January 2009, Iraq tied the price of  the ESCALATING dinar to 1170 for stability purposes ( IMF Article 4 consulations report 2010).

 

• IMF Article 4 2010 : The CBI also moved from a policy of allowing the Iraqi dinar to gradually appreciate—the dinar strengthened by 20 percent vis-à-vis the U.S. dollar from end 2006 to end 2008 ~ to one aimed at keeping a stable exchange rate
• Since January 2009, the value of the dinar has remained stable at ID 1,170 per U.S. dollar. 

 

5 yrs ago......that escalating dinar was about to drop the first zero on its own and CBI stopped it. That was 5 yrs ago ~ Total Currency outside Bank was:  21.776 trillion dinar.  

 

Did CBI stop dinar from escalating further so that they can LOP or delete all the 3 zeros  5, 6 or 7 yrs down the road..? Hmmm...

What would have happened (to the price of dinar today) had they not stopped the dinar from escalating..? 

Edited November 21, 2013 by zul

[skitealwedrop]

Such a close minded thought.....Im not even sitting here telling you I know whats going to happen so why would this be a "I told you so" type of thing? lol.....

 

Dont direct your anger at me, save it for the CBI IF they follow through with what they have been telling us for years now.....

Clearly, the CBI has issues as well as the GOI. We know that. Let's not take this investment seriously.

Work your ass off in your trade. Have fun! It would be cool if we made a few bucks from this investment. In the interim, I'm not going to worry about IQD. I make enough to pay my bills and live a simple life. I'm content!

Ski

[outlawclg]

Too much work for a lop.