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project to delete the zeros from the national currency


10 YEARS LATER
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Notions anyone ?

 

 

Baghdad (Iraq) / Marwa Hussein Parliamentary Finance Committee confirmed the deportation of the project to delete the zeros from the national currency to Iraqi custody next year, any new government after the elections, and said that the implementation date will remain postponed until now. The MP said Abdul-Hussein al-Yasiri for «future» yesterday that the process of deletion of zeros from the national currency is supposed to begin next year, with the agreement of the central bank. He noted that determine when to hold elections next year and the end of the age of the current state government will pay for the project automatically migrate to a new cabinet to consider its implementation and set a date to work with it. He Yasiri that this project will lead to reduce the rate of the national currency in circulation of 4 billion dinars to one billion. The Iraqi Central Bank announced earlier that this year will see the implementation of the project to delete the three zeroes from the national currency amid expectations of parliamentary committees to decide on the project next year, 2014, but the central bank recently returned to back down from his decision and says that the current situation is not suitable for the deletion of zeros from currency Iraq, noting that he will announce early to the public when it decided to delete it.

 

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To be honest, I am not a ardent supporter of the removal of the Zero's....quite honestly it makes no difference to the value.  What concerns me is that all dinars will have to be exchanged for new notes that allows Iraq to really guage what are foreign investments, local money and now have a handle of the currency in true circulation.

I am quite happy to hold on to the notes as is till the proper values are re-established.

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these  yokels  are  still  going  to  wait on the  parliament committees  to either  come up with  a go ahead reason  to lift the zero`s , or  post pone again .......   I am still  inclined to  wait  until 5 2014   to see the  out  come  of every thing  over there 

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To be honest, I am not a ardent supporter of the removal of the Zero's....quite honestly it makes no difference to the value.  What concerns me is that all dinars will have to be exchanged for new notes that allows Iraq to really guage what are foreign investments, local money and now have a handle of the currency in true circulation.

I am quite happy to hold on to the notes as is till the proper values are re-established.

 

Gonna' have to poo-poo this one OC.  Some of us have been waiting a decade now for this do something....ANYTHING!  I know I would be happy if anything at all happened so I can get off of this ride.  Don't really care what at this point.  JMO

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If they were going to LOP they would have already. How much education is necessary for "deletion of zeros" a neutral event, where the new dinar would equal the dollar? NONE.

 

So IMO they are going to up the value - soooooo, any talk of when is probably related to all the ducks they need in a row before they do - banking, IMF regs, maybe WTO, etc.

 

The main hope I hang on is this - RD? They would have already. They are planning something else....RI?

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If they were going to LOP they would have already. How much education is necessary for "deletion of zeros" a neutral event, where the new dinar would equal the dollar? NONE.

 

So IMO they are going to up the value - soooooo, any talk of when is probably related to all the ducks they need in a row before they do - banking, IMF regs, maybe WTO, etc.

 

The main hope I hang on is this - RD? They would have already. They are planning something else....RI?

zero logic in that statement. it is a widely known, educated fact, rd's have a better success rate, when theres stability, government support, and no huge problems of fraud and forgery. these are exactly text book defintions on why not to. so just because they havent done it yet, means nothing in real logic. but none the less, this is great for us. at minimum it gives us more time to have revaluations, before they could pull this off.
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No negs CJSinSJ.  Just dropping the zeros would do nothing to change the value.  Your 10K notes would be exchanged for 10 notes and what used to cost 10K would now cost 10.  HOWEVER, if the drop of zeros were accompanied by a revaluation of the dinar then and only then would the value of the dinar change.  From everything I've read on this site it is unlikely they would simply drop the zeros without also revaluing the dinar.

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No negs CJSinSJ. Just dropping the zeros would do nothing to change the value. Your 10K notes would be exchanged for 10 notes and what used to cost 10K would now cost 10. HOWEVER, if the drop of zeros were accompanied by a revaluation of the dinar then and only then would the value of the dinar change. From everything I've read on this site it is unlikely they would simply drop the zeros without also revaluing the dinar.

So basically, I would end up with a big pile of 10 dinar notes equalling 100k dinar, the same amount of dinar, just in smaller notes. Right? And if it were to RV then it would've worth more In USD.

Edited by CJSinSJ
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So basically, I would end up with a big pile of 10 dinar notes equalling 100k dinar, the same amount of dinar, just in smaller notes. Right? And if it were to RV then it would've worth more In USD.

No your 100k dinar would only be worth what it is now if they drop thr zeros. About 100 usd....its a neutral event....you dont gain and you dont lose....except for exchange fees

If they were going to LOP they would have already. How much education is necessary for "deletion of zeros" a neutral event, where the new dinar would equal the dollar? NONE.

So IMO they are going to up the value - soooooo, any talk of when is probably related to all the ducks they need in a row before they do - banking, IMF regs, maybe WTO, etc.

The main hope I hang on is this - RD? They would have already. They are planning something else....RI?

Its not about educating the citizens anymore....the govt cant decide on the right timing for it.....

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No your 100k dinar would only be worth what it is now if they drop thr zeros. About 100 usd....its a neutral event....you dont gain and you dont lose....except for exchange fees

Ok. That part I understand. And if there is an RV then my Dnar will be worth more in USD.

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zero logic in that statement. it is a widely known, educated fact, rd's have a better success rate, when theres stability, government support, and no huge problems of fraud and forgery. these are exactly text book defintions on why not to. so just because they havent done it yet, means nothing in real logic. but none the less, this is great for us. at minimum it gives us more time to have revaluations, before they could pull this off.

I'm not sure where fraud and counterfeit notes come in here...if the currency is RD'd that means a new currency will be printed.

A neutral event. What would they do? Counterfeit bills so they will be exchanged later for new bills with the same value?

 

That doesn't seem logical.

 

It's been 10 frikken years - they are as stable as they will ever be. It is logical for them to have RD'd by now merely to make transactions easier. They do not need international banking, or WTO or anything - they just unilaterally (by themselves) change the currency. 

 

And if it's a neutral event it does not require education - just political cahones. Maybe they haven't had enough of that lately...LOL

Sounds like they are just justifying keeping the carrot in front of the donkey on into next year.

What carrot is ther ein an LOP?

 

Keep - the GOI can't decide when to RD? That's like sayin' "Hey! I can't decide when I'm gonna throw these two nickels out the window...and then pick up that there dime on the table."

Edited by AmericaInc
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