About the issuance of a new Iraqi currency Soon

[boomer113189]

12 - 22 - 2013

 

CBI seeks to delete three zeros from the Iraqi currency since 2003. A project that raises many concerns on the street level and the business community of Iraq, and it seems economists are divided between supporters of the project see it as an opportunity to reduce the rates of inflation and unemployment, among forewarned of economic shocks may dominate the Iraqi market due to the application of this project.

The delayed implementation of the project after it has been amended, the central bank, more than once due to concerns based predominantly to the security situation and uncontrolled open market to foreign goods without restrictions and counterfeit currency circulating in the market in addition to the rampant corruption in the country.

The Iraqi News Agency quoted an independent member of the Finance Committee in parliament, Abdul-Hussein al-Yasiri on the fourth of September / September last year, saying that 2014 will see the deletion of zeros from the Iraqi currency, to be done in coordination with the Central Bank. The Yasiri that this project will lead to the reduction of the size of the national currency in circulation than four billion Iraqi dinars to one billion.

For his part, Chairman of the Finance Committee in the House of Representatives Haider Abadi It is possible to delete the zeros from the current currency, but it has been postponed until after the parliamentary elections, pointing out that studies are now to put safeguards in order to reduce fraud or making sure not to trade again currency Current.

The process of removing zeros has been postponed more than once, until called on the Economic Committee in the House of Representatives as provided by the channel "East" on the seventh of July last from the central bank, accelerate the process of deletion of zeros from the Iraqi currency tightly in a press conference held at the the process of deleting the zeros will increase the value of the Iraqi dinar will be reflected positively on the issue of reducing the rate of unemployment and poverty in the country.

But financial adviser in "North Bank" wholesome Elias said that the process of deletion of zeros is just an administrative process, and the equation of cash should remain as it is, namely that the purchasing power of the new currency should be equal to the old currency. Elias added that should the two currencies trading volumes both for a period of up to three years to withdraw gradually from the old market. Elias predicted that highlights the problems yet to be resolved if the creditor and the debtor's operations or if they hit any defect in reimbursements and withdrawals. But he ruled out the possibility that the impact on inflation rates or poverty.

For his part, Deputy Chairman of the Finance Committee in the Iraqi Parliament, Ahmed Faizullah the view of the wholesome Elias, pointing out that the deletion of zeros will not change the purchasing power of the Iraqi dinar because it is linked to the size of the industrial production and import. He added that what saved the Iraqi dinar is owning the central bank cash reserve of hard currency Osafth has formed a cover of the dinar. He called the iceberg of God to non-application of the project at this time because it would disrupt the market and the Iraqi citizens alike.

Amid those views Director noted Commissioner for "Company breeze North" to trade stocks Inas Mohammed that the stock market will be the biggest hit of changing the currency and delete the zeros. The stock is still sold in dinars, and a thousand dinars currently worth a thousand shares while the new dinar will become one after the deletion of zeros is equal to A shares, which would disrupt the stock market, which is witnessing a confused movement basically because of the security situation in the country.

http://goo.gl/cmikJn

 

[bigwave]

Two that stuck out for me:

 

"Elias said that the process of deletion of zeros is just an administrative process, and the equation of cash should remain as it is, namely that the purchasing power of the new currency should be equal to the old currency."
 

"The stock is still sold in dinars, and a thousand dinars currently worth a thousand shares while the new dinar will become one after the deletion of zeros is equal to A shares, which would disrupt the stock market, which is witnessing a confused movement basically because of the security situation in the country."
 

Maybe tomorrow they will say the opposite...... with the word soon or in the coming days at the end.

Edited December 22, 2013 by bigwave

[boomer113189]

yep right now 1000 shares = 1000 after the deletion of zeros Redenomination that 1000 share will = 1 share

 

same with our dinars after the redenomination your 1000 dinars = 1 new dinar

 

the deletion of zeros needs to stabilize the security and political stability as well as the economy.

 

that's why they keep pushing it back

Edited December 22, 2013 by boomer113189

[boomer113189]

i means the deletion of zeros requires political and security stability as well as economic stability.

[stealthwarrior]

Who knows what these goobers are going to do.

[dinarbeleiver]

They will RV I have no doubt about it

[SgtFuryUSCZ]

Who knows what these goobers are going to do.

***///

 

Apparently not even they themselves !   Goobers indeed !

[boomer113189]

according to all these delete the zeros articles = no RV

Edited December 22, 2013 by boomer113189

[dontlop]

Oh you think they should pre announce a rv

I think they should use propaganda to keep the entire world from buying up all the dinar

I'm sure it's a calculated percentage of dinar that they did want spread around the world

No more no less

What will be funny is if you bought dinar then felt it was a losing cause so you sold it and lost money and spent a couple years condemning the investment

Then it rvs and makes us all millionaires

Then you can truly flip out

[boomer113189]

all currency that deleted three zeros from the currency   Exchange rate were all 1000 to 1 new   which means for every million you had become only 1000 USD

 

note indonesia has not happend yet but it will just watch.

 

Venezuela - http://goo.gl/bhNxtF

 Indonesia - http://goo.gl/RFyUFb

 Mexican peso - http://goo.gl/PzwPlf

 bulgaria lev - http://goo.gl/MdyD8V

 Russian ruble - http://goo.gl/8N1tva

 Israel shekels - http://goo.gl/oNsF16

 Paraguay guarani - http://goo.gl/AvsKKg

 Brazil Real - http://goo.gl/Tsi2ur

 Colombia peso - http://goo.gl/X59Q6I

 Zambia - http://goo.gl/2SHK52

 

cant ignore these facts the dinar will be next its only a matter of time

the cbi has said over and over along with economist that it takes time for the project that why they have not done it yet. if you havent noticed iraq is very slow and its not that good over there economic wise or stability wise.

 

like i said before show me a currency that deleted three zeros that the exchange rate was not 1000 to 1

 

remember iraq siad it want to follow other countries currency's that did the same thing "note that many countries replaced their currency and benefit from their experiences in this area, including Turkey, Russia, Brazil and others"

 

Edited December 22, 2013 by boomer113189

[dinarbeleiver]

That old chestnut boomer - Kuwait revalued their currency so will Iraq

[boomer113189]

That old chestnut boomer - Kuwait revalued their currency so will Iraq

i don't care about kuwait i only care about the dinar & so far most of the economist & even both cbi gov are in favor of an RD/LOP

 

 dont take my word for it just ask i got the links

Edited December 22, 2013 by boomer113189

[dinarbeleiver]

Get yourself a translation of Iraqi TV - it will open your eyes- the IQD is grossley undervalued

[boomer113189]

Get yourself a translation of Iraqi TV - it will open your eyes- the IQD is grossley undervalued

the   IMF     said The low level and the relative stability of inflation do not suggest any significant over- or undervaluation of the Iraqi dinar.  

 

that another lie peop,e tell is that the dinar is undervalued its not its right where it should be

Edited December 22, 2013 by boomer113189

[dontlop]

Iraqs currency is what it is but they have plenty of assets to increase its value when they are ready to

According to them at least 2 and a half times it's value or 466 to one

That was 8 months ago they could be at 3 times the value by now

Or around 388 to one lets see 1166 devided by 3 is 388 yep

1166 devided by 2.5 equals 466

But according to ding dong they will only delete zeros and they will not add any value

His connections told him

Its a secret who his contacts are he's a lop guru like okie

But opposit of okie

[keepmwlknfny]

Iraqs currency is what it is but they have plenty of assets to increase its value when they are ready to

According to them at least 2 and a half times it's value or 466 to one

That was 8 months ago they could be at 3 times the value by now

Or around 388 to one lets see 1166 devided by 3 is 388 yep

1166 devided by 2.5 equals 466

But according to ding dong they will only delete zeros and they will not add any value

His connections told him

Its a secret who his contacts are he's a lop guru like okie

But opposit of okie

Its actually according to the CBI.....you act as if the people who understand what the CBI is saying are the ones coming up with the whole lop scenario. Dont let your ignorance prevail. Your smarter then that.... (I think)

[dontlop]

Tell Dinarck I am not a scumbag pumper. If you ever said that to me face Dinarck I would nut you and fight you.[/

They will cry to their mommy when your done

Tell em if they ever talk to you again like that you'll rip their lips off and peuk in their mouths

Oh ya

Then tell em

Merry Christmas too

And if they don't like that

Tell em you'll bite their ear off and take a crap in the side of their head

And them wish em a happy new year

[sandfly]

THANKS

[sandstorm]

in a lop, iraq replaces their hyper inflated currency, gets a neutral exchange, and keeps all their oil to sell for record prices. talk about a sweet deal.

i need a laugh. wheres the theories on iraq giving away trillions of dollars and trillions in oil for the next milinium?

[fib1618]

Merry Christmas lopsters especially Dinarck !!!! No lop only RV!!!!!!!!

And fib to nut someone is the slang for headbutt. Tell any lopsters to stop emailing me to I have the freedom of speech on this forum and I won't be told what I can or can't put or be threatened in anyway. Adam and the mods are the only people that can censor me on this forum.

I have no clue who's emailing you dude... If you are being threatened contact your email provider.... It could be anyone.

If I have anything to say to you it will be right here where everybody can view it.

[dinarbeleiver]

Thanks fib I doubt you would be like the person who is emailing me. I have upset people out there with my pro RV attitude and it's time to leave the forum for a little while. The lopsters are not helping their cause if they think they can threaten me.

[Markinsa]

Physical Threats against others, regardless of their membership status, is violation of Forum Rules.  Any additional threats, whether real or joking will result in termination of your membership.

 

Related Posts Have Been Hidden.

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Edited December 23, 2013 by Markinsa
Added last comment

[fib1618]

Physical Threats against others, regardless of their membership status, is violation of Forum Rules. Any additional threats, whether real or joking will result in termination of your membership.

Related Posts Have Been Hidden.

-

Understood.

[dontlop]

Economist calls on CBI to adopt oil and gas instead of gold and USD currency reserves

Economist calls for the adoption of the oil and gas reserve of the Central Bank economist

May 11, 2013, 1:43 pm

Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country.

Said Antoine told him the reporter, “news agency Iraqis,” that: “reserves the central bank alone is not enough to maintain the stability of the Iraqi economy, where you must rely on reserve economist is the stock of oil and gas, because the reserves the central bank money and gold is not equal to the export of oil to one year . “

Noting that: “Reserve the main possible to protect Iraq’s economy is the stock of oil and gas in the ground,” and explained that “the statistics of the Ministry of Oil indicate that the oil reserves reached about 150 billion barrels and 19 billion m3 of gas, up to the month of February of the year Current. “

[boomer113189]

2010 Document - Special Inspector General for Iraq Reconstruction to The United States Congress

Dinar Redenomination

The CBI has announced that it intends to implement a long-planned Redenomination of the Iraqi dinar by eliminating three zeros from the nominal value of banknotes.This process is meant to ease commercial
transactions by reducing errors and confusion that hyper-inflated currencies often cause. Now that Iraq’s inflation rate has achieved a level of stability, the move could serve to bolster confidence in the
country’s currency.   http://goo.gl/HMRN4L       page 99

 

so this tells me they are going to redenominate according to this document

Edited December 23, 2013 by boomer113189