Experts: Delete the zeros project needs to be catalysts for success

[TBomb]

Experts: Delete the zeros project needs to be catalysts for success

  

31/12/2013 0:00

BAGHDAD - Farah pumice - Mustafa al-Hashemi
agreed the views of experts and specialists on the importance of the project to delete the zeros from the currency, despite the objections put up by some of the impact on the market at the moment.
described competent Jihad al-Khalidi delete the zeros step reform, but it will not come to fruition positive is partial unless accompanied by reforms radical other.
also stressed the importance of making changes in the banking system in order to cope with the rapid changes and policies and banking systems and credit Haditha, according to sophisticated mechanisms for hiring and capital investment government and private banks.
indicated that the project's central bank proposed to delete the three zeroes from the currency (the dinar) for the purpose of restructuring of the currency and its management has sparked heated debate between the circles all, and this is what filled government officials, economists and financial, but in spite of this controversy broad not everyone agrees on determining the time limit set for the implementation of this project, which led to split these into two supporters and opponents. According to Khalidi, Van what encourage the central bank to implement this project and there are applications for the successful testing of a number of states, for example: Turkey, which achieved positive results reflected in the purchasing power of their national currencies (lira), as well as Germany.
while noting "the need to find radical solutions to address the imbalances in the system Economic issuing legislation and economic laws and rehabilitation of basic infrastructure, as well as work on the re-sectors and factories productivity and agricultural government and private production and development of Iraqi exports, which continue to suffer from neglect and decline and begin the practical steps. "He Khalidi:" to legalize imports of unnecessary and luxury and reduce damage in Politics dumping of the commodity (unequal) exercised by the states and foreign companies and reduce the exit of foreign currencies for the purpose of investment to finance development programs and projects in order to fit in with the requirements of the new phase and the success of the project to delete the zeros ", so the current stage requires sincere efforts and bold than any other time such as the return of our national economy to normal to commensurate with the potential of the country and its natural resources, mineral and human resources and its geographical location strategic to interact with its regional and international levels. "
in turn, confirms the researcher Louay Hamidawi that "According to the constitution, the cabinet is painted Economic Policy upper of the country which is responsible for improving the purchasing power of the Iraqi people." The proposed mechanism for the deletion of zeros by reducing the price of the dollar against the dinar gradually, to ensure that no damage retention dollar, as central bank begins to reduction by ten dinars at each reduction from 1180 dinars to the dollar to 1170 and then to 1160.1150, and so during the short period of time to reach its exchange rate to 1,000 dinars, and proves this price as a first stage because the basis for the next step, adding that he will improve the purchasing power of the Iraqi people by 20 percent.
http://www.alsabaah.iq/ArticleShow.aspx?ID=61019

Edited December 30, 2013 by TBomb

[SgtFuryUSCZ]

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Too slow...! C'mon, giddy yap, CBI !

 

 

Is the guy's name really "PUMICE"...? 

Like the stone used to "shave off" things... like zeros....  .....  ...  !

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Thanks, TBOMB !

[JayLay]

just do a major RV. Trust me, no "damage" will be done to me. :-)

This is a really really good sign of movement in the near future. I'm sick of looking at that 1160 on CBI's site.

[Butifldrm]

described competent Jihad al-Khalidi delete the zeros step reform, but it will not come to fruition positive is partial unless accompanied by reforms radical other.

 

The proposed mechanism for the deletion of zeros by reducing the price of the dollar against the dinar gradually, to ensure that no damage retention dollar, as central bank begins to reduction by ten dinars at each reduction from 1180 dinars to the dollar to 1170 and then to 1160.1150, and so during the short period of time to reach its exchange rate to 1,000 dinars, and proves this price as a first stage because the basis for the next step, adding that he will improve the purchasing power of the Iraqi people by 20 percent.

Wow Tbomb, if this doesn't put the Lopsters to rest nothing will.      Khalidi by these statements is implying "the removing of the three zeros" is the act of removing of the three zero notes by increasing the rate of the Dinar.  This scenario certainly, does not describe a LOP or a Neutral Event.  

 

 

[keepmwlknfny]

described competent Jihad al-Khalidi delete the zeros step reform, but it will not come to fruition positive is partial unless accompanied by reforms radical other.

The proposed mechanism for the deletion of zeros by reducing the price of the dollar against the dinar gradually, to ensure that no damage retention dollar, as central bank begins to reduction by ten dinars at each reduction from 1180 dinars to the dollar to 1170 and then to 1160.1150, and so during the short period of time to reach its exchange rate to 1,000 dinars, and proves this price as a first stage because the basis for the next step, adding that he will improve the purchasing power of the Iraqi people by 20 percent.

Wow Tbomb, if this doesn't put the Lopsters to rest nothing will. Khalidi by these statements is implying "the removing of the three zeros" is the act of removing of the three zero notes by increasing the rate of the Dinar. This scenario certainly, does not describe a LOP or a Neutral Event.

Actually they mentioned moving it to 1000 first before redenominating to get the dinar right on par with the dollar. If they do start moving it, and it gets to 1000 better dump the dinar cause thats the best price you will get to sell back before they RD.

I really dont think this puts anything to rest....

[SgtFuryUSCZ]

Actually they mentioned moving it to 1000 first before redenominating to get the dinar right on par with the dollar. If they do start moving it, and it gets to 1000 better dump the dinar cause thats the best price you will get to sell back before they RD.

I really dont think this puts anything to rest....

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  Tell us more...  ... we're intrigued.

[Butifldrm]

Actually they mentioned moving it to 1000 first before redenominating to get the dinar right on par with the dollar. If they do start moving it, and it gets to 1000 better dump the dinar cause thats the best price you will get to sell back before they RD.

I really dont think this puts anything to rest....

 

keep, you know I respect your opinion, BUT,  this phrase is describing the Modem Apparatus for the deletion of the zeros. " The proposed mechanism for the deletion of zeros by reducing the price of the dollar against the dinar gradually, to ensure that no damage retention dollar

Edited December 30, 2013 by Butifldrm

[TBomb]

Great excerpt Buti.

[SgtFuryUSCZ]

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Indeed ! Thank you kindly, BUTIFLDRM !

[jeepguy]

just hope it doesn`t take  10 more years to get it too  the 1,ooo to 1  mark  

but then again  this is just  what experts would like to do ,,, give them enough  time  to  sell and purchase  millions of dinar  , and  sell just when the time is right ,    so  why not  just  make it  a re-instatment  as  to 3 too 1    ??

they had de-vlued the dinar over night ,  it would not  defeat the  dinar  or the  range of  cash in central bank  by just going over night too 1 too 1 

[zul]

 

"......confirms the researcher Louay Hamidawi that "According to the constitution, the cabinet is painted Economic Policy upper of the country which is responsible for improving the purchasing power of the Iraqi people...."

 

 

 

"...proves this price as a first stage because the basis for the next step, adding that he will improve the purchasing power of the Iraqi people by 20 percent.."

 

What i like about this news is that they are talking about improving the purchasing power of the people. Simply means, the people will be able to buy more with the same amount of money. 

 

In a neutral event, the purchasing power of the people remains the same..

[vomer]

Is this as close to an RV confession as we're going to get?

[MyLadiesDaddy]

Is this as close to an RV confession as we're going to get?

In a word, yes. They could move in slowly but again if Obummer raised taxes on

durable goods by 20% and only made the dollar worth a penny more, what do you

think would happen? And let's not forget that Iraq is a third world country who's

people have been starving for decades. If you through a Doberman a bone it better

be bigger than a pea. Or you might be dinner yourself.

[dontlop]

20 percent is to around 943 from 1166

They start buying up dinar making them harder to get will increase demand

They seem like they are saying they will reduce the dinar now

[MyLadiesDaddy]

It should be noted that to go from 1166 to 1150 is, in terms of dollars less than

one cent. Likewise, a couple of years ago we were told that a gallon of milk cost

around $23 or 25,000 dinar. So tell me how is a one half cent increase going to give

the people more purchasing power?

20 percent is to around 943 from 1166They start buying up dinar making them harder to get will increase demandThey seem like they are saying they will reduce the dinar now

20 percent is to around 943 from 1166They start buying up dinar making them harder to get will increase demandThey seem like they are saying they will reduce the dinar now

Dontlop I think you may have just revealed this article as pure b.s. .

They talk about going down to 1000 yet that won't even cover the tariffs. At the same

time they say this will give the people more purchasing power. Doesn't and up.

[dontlop]

20 percent is 20 cents on the dollar

11,76 dinar equals one cent

It ain't much but it's an increase

[JayLay]

So does this settle it that there will be no major RV?

[dontlop]

It doesn't settle anything for me

I saw where a economists called for oil and gas to replace the dollar and gold reserves at the cbi to back the dinar

It's still up in the air as far as I'm concerned

Just opinions as far as I'm concerned

For me it's settled when I sell my dinar

[Gunshow2425]

So does this settle it that there will be no major RV?

Obviously no. About 95 percent of things we here are people's opinions or wants.

[JayLay]

It could be a translation issue but I read the article again and understood a potentially different outcome.

It mentions that it will increase the value of the dinar till it reaches 1000 to 1 USD. It mentions that this is the basis to the next step which is to increase the purchasing power (value of dinar) up by 20%.

The more I read this, I interpret it as two separate steps. Revaluing the dinar to 1000 to 1, then also increasing the value by 20%, not meaning that this is the same step. This would bring the value of the dinar to ~800 to 1 ($1200 per mill). Since they would be introducing a new currency without the zeros, the exchange can be separate from the current dinar against the USD. Who says the CURRENT dinar needs to be at an exchange rate of 1000 to 1? The new dinar can have the zeros removed but have a separate value against the USD.

It's hard to explain what I am getting at or even if I interpreted it correctly the 2nd time, so my apologies in advance. Maybe a little RV tunnel vision manipulation as well. :-)

[jeepguy]

I am just hoping they take this with the grain of sand , like  they  have been doing with the  scholars and students of economist , that  have spent years studying the  zero`s  and  told of the out come , only to be  put to the side , or  just  omitted   for the  person to say it should be the catalyst  , I think they are stating , the beginning , now what the parliament , and g.o.i  will do is up in the air ..... remember  they still have folks  in the street getting kicked around  and  about  tired of the game ...... 

[gregp]

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  Tell us more...  ... we're intrigued.

Yes. Please do....you haven't told us enough about your friend "Lop". Please tell us more keep!

Is this as close to an RV confession as we're going to get?

Which year? Let see, there was 2009, 10, 11, 12, 13. Come on 14!

[keepmwlknfny]

keep, you know I respect your opinion, BUT, this phrase is describing the Modem Apparatus for the deletion of the zeros. " The proposed mechanism for the deletion of zeros by reducing the price of the dollar against the dinar gradually, to ensure that no damage retention dollar

Yes, reduing it gradually to 1000 to 1. Thats what they are talking about. Instead of just jumping from current rate to 1000 overnight.

[bamjack75]

Did Turkey or any other country, that did a lop, follow this same routine/mechanism that is mentioned in this article? 

[zul]

Question is, how do they plan to reduce their exchange rate from 1166 to 1150 to 1140 all the way to 1000...during the short period of time..? They can't be plucking those numbers from thin air..

 

There must be a corresponding monetary or financial actions for that to happen. So...do they plan to increase their foreign reserves or perhaps reduce their money supply..?