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The parliamentary financial attributes the delay to delete zeros to hard currency control


boomer113189
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12 - 21 - 2013

 

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The parliamentary Finance Committee, attributed the Saturday, due to delayed delete zeros to hard currency control and individual decision-making, with a roughly 35 trillion dinar traded on markets, stressed the importance of the project to delete the zeros of the Iraqi institutions and citizens.

The Chairman of the Committee, said Haider Al-Ebadi in an interview for "alsumaria news", that "the Government has no confidence on the ability of the Central Bank on the currency at this time without problems", stating that "there is a fear of lack of control over currency damaged while deleting zeros."

Al-Ibadi said that "bad currency could go out again and replaced by the new currency during the switch so it will print its free cash becomes more of a reality," he said, adding that "the supposed Central Bank currency damage divided as soon as they are received from the banks."

Abbadi stressed that "the process of replacing the currency in large monetary market is difficult, although the Bank had presented a plan to replace them for two years," pointing out that "the amount of cash in the market and are traded currently at 34 to 35 trillion dinars".

He concluded that "the individual decisions taken by the Central Bank out of the Government and Parliament on the switch and delete the zeros were another reason for postponing the deletion of zeros so that any problems that might occur while delete zeros and the changeover, the entire economy suffers," absent any deletion of zeros from the currency and replacement at this time with the next parliamentary elections. "

Abbadi stressed the importance of "delete the zeros of the Iraqi institutions and citizens of some deputies and accountants who make mistakes in the numbers because the zeros that are sometimes severe," delete the zeros of the positive things to simplify accounts and trading among the people, adding that the new currency might evolve more in print and is difficult to falsify.

He is a member of the parliamentary Economic Committee, h Wayne almerapi (September 23, 2012), the flop in monetary policy made the country lose eight million dollars per year, while warning that the deletion of zeros will make it easier for mafia money laundering stolen billions without feeling State, invited to study its impact on the overall situation.

The Central Bank, accused (12 September 2011), the Government of blocking the monetary reform and vowed to prosecute, blaming them for endangering the country's financial interests.

The Prime Minister's Advisor for Economic Affairs Abdul Hussain anbaki, on (25 August 2011), to lift the zeroes from the currency is the biggest corruption in Iraq if during this period, under the name of tampering, warning of "mafia" is preparing to falsify trillion Iraqi dinars to replace the light changes.

Some economists believe that Iraq is now prepared to delete the zeros of the Iraqi dinar, stating that deletion requires political and security stability as well as the stability of the economy. from the Iraqi dinar, pointing out that the deletion needs to stabilize the security and political stability as well as the economy.

 

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For all the clowns out there that say if they were going to lop they would have done it already...

"deletion requires political and security stability as well as the stability of the economy."

I think I just heard another car bomb go off.

yeah i know they all say it should have been done by now if they were gonna do it., lol

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I don't think the deletion of zeros will be done alone

I think they will be adding in at least what they said they had in excess reserves to the value at the same time

They said earlier this year they had enough funds to cover the dinar 2 and a half times over

So if they didn't gain any more funds since they may delete three zeros and have a 1000 to one exchange but they could possibly add that 2 and a half times excess funds to the value and thAt would be a $2.50 dinar value

They could have three times the value by now and may be holding out for more before they make any changes

Maybe 4 times in excess reserves and that could be the reason for the delay

You surely don't know no one does

But then they say they want the dinar to be on par with the dollar

So they may delete 3 zeros and have the exchange rate between the new and old dinar be 466 to one exchange rate and have a dinar valued at 1 dollar each

If they aRe holding out till they get more excess reserves they could set the exchange rate at 250 to one between old and new dinar

But to claim anyone knows what they will do outside the cbi and some of the Iraqi govt is just hogwash

First of all

Lol

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I don't think the deletion of zeros will be done alone

I think they will be adding in at least what they said they had in excess reserves to the value at the same time

They said earlier this year they had enough funds to cover the dinar 2 and a half times over

So if they didn't gain any more funds since they may delete three zeros and have a 1000 to one exchange but they could possibly add that 2 and a half times excess funds to the value and thAt would be a $2.50 dinar value

They could have three times the value by now and may be holding out for more before they make any changes

Maybe 4 times in excess reserves and that could be the reason for the delay

You surely don't know no one does

But then they say they want the dinar to be on par with the dollar

So they may delete 3 zeros and have the exchange rate between the new and old dinar be 466 to one exchange rate and have a dinar valued at 1 dollar each

If they aRe holding out till they get more excess reserves they could set the exchange rate at 250 to one between old and new dinar

But to claim anyone knows what they will do outside the cbi and some of the Iraqi govt is just hogwash

First of all

Lol

why dont they just rd then use that so called 2 times resrve to push the dinar to 3 dollars right after the rd it would be better for them then

why dont they just rd then use that so called 2 times resrve to push the dinar to 3 dollars right after the rd it would be better for them then

that would be dumb to change the exchange rate of the dinar to 500 dinar per dollar then rd, i would rd first then use that afterwords for back up

remember iraq wants to DEdollarize and reduce the money supply and they can do both just be Redenominating there currency

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I don't think the deletion of zeros will be done alone

I think they will be adding in at least what they said they had in excess reserves to the value at the same time

They said earlier this year they had enough funds to cover the dinar 2 and a half times over

So if they didn't gain any more funds since they may delete three zeros and have a 1000 to one exchange but they could possibly add that 2 and a half times excess funds to the value and thAt would be a $2.50 dinar value

They could have three times the value by now and may be holding out for more before they make any changes

Maybe 4 times in excess reserves and that could be the reason for the delay

You surely don't know no one does

But then they say they want the dinar to be on par with the dollar

So they may delete 3 zeros and have the exchange rate between the new and old dinar be 466 to one exchange rate and have a dinar valued at 1 dollar each

If they aRe holding out till they get more excess reserves they could set the exchange rate at 250 to one between old and new dinar

But to claim anyone knows what they will do outside the cbi and some of the Iraqi govt is just hogwash

First of all

Lol

go look back at my artciles about currencys that deleted 3 zeros they all traded at 1000 old to 1 new . why would iraq go to 250 dinar per dollar ? then waste it just to RD later on

Iraq tops the “most corrupt” in the world for the tenth consecutive year

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I don't think the deletion of zeros will be done alone

I think they will be adding in at least what they said they had in excess reserves to the value at the same time

They said earlier this year they had enough funds to cover the dinar 2 and a half times over

So if they didn't gain any more funds since they may delete three zeros and have a 1000 to one exchange but they could possibly add that 2 and a half times excess funds to the value and thAt would be a $2.50 dinar value

They could have three times the value by now and may be holding out for more before they make any changes

Maybe 4 times in excess reserves and that could be the reason for the delay

You surely don't know no one does

But then they say they want the dinar to be on par with the dollar

So they may delete 3 zeros and have the exchange rate between the new and old dinar be 466 to one exchange rate and have a dinar valued at 1 dollar each

If they aRe holding out till they get more excess reserves they could set the exchange rate at 250 to one between old and new dinar

But to claim anyone knows what they will do outside the cbi and some of the Iraqi govt is just hogwash

First of all

Lol

I stopped reading at "I don't think"...

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A hundred billion dinar m2 valued at 4 dollars for each dinar would set them on par with the neighboring country's that have between 10 and 12 thousand dollars worth of currency in their m2 per capita

Iraq has 30 million population so to be on par with Libya or Saudi Arabia Iraq would need between 300 and 360 billion dollars worth currency in their m2

Our existing dinar after deletion of zeros would be worth between 3 dollars and $3.60 each

But Iraq said they have the most powerful currency over there so maybe they would like to return to their 4 dollar plus dinar and they won't do anything till they can achieve those excess reserve levels

It doesn't take as long to make money in Iraq today as it did last year or the year before

The more infrastructure they add the more annual revenues are created

Next year they will be setting even higher records than they are today

In a couple years they will be selling 6 million barrels a day instead of 3 that means even more money to expand with

The possibilities grow more and more each day they add more

Soon the Jordan pipeline will be complete

Soon they will be pumping more oil through turkey

Once all those pipelines are finished

You watch a war break out with Iran

They need to be able to get oil out in other ways besides the person gulf before the Iran war

And when the war starts watch oil prices hit $250.00 a bArrel

Then watch Iraqs revenues grow through those pipelines with 250 to 500 dollars a barrel oil for a couple years

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i have never seen an article that said iraq only had 1 billion dinars in circulation

If these guys would start using their brains for once.... Geez.

All they have to do is multiply 1 billion x .00086

That's $860,000 worth of dinar

There's probably that much for sale on eBay right now.

Lmao

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Currencies with extremely low values are often redenominated
It is quite common for countries with currencies that have very low values compared to other currencies to redenominate their existing hard currency and issue new currency with new values. For example, the Venezuelans, another oil economy, redenominated the bolivar (trading at 2,150 to the USD) in 2008 and allowed currency owners to exchange 1,000 of them for 1 new bolivar.

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