Project Will Lead To Reducing The Rate Of The National Currency In Circulation From Four Billion To One Billion Notes !

[MyLadiesDaddy]

People only see what they want to see, THUGS.

SO, he buys a website and makes it look like it's an Iraqi news site. Then plants an

old article with today's date. Then comments about how he's been saying this for

three years. As far as pumpers go he's pretty ingenious. Albeit exceptionally deceitful.

And, in his comments about the article is where he messed up, and where I base my

opinion. He talks about the rate as though it were not controlled, ie. Floating.

When everyone knows that the value of the dinar has always been controlled.

[moneysoon]

People only see what they want to see, THUGS.

SO, he buys a website and makes it look like it's an Iraqi news site. Then plants an

old article with today's date. Then comments about how he's been saying this for

three years. As far as pumpers go he's pretty ingenious. Albeit exceptionally deceitful.

And, in his comments about the article is where he messed up, and where I base my

opinion. He talks about the rate as though it were not controlled, ie. Floating.

When everyone knows that the value of the dinar has always been controlled.

 

LGD, Morning Brother,

 

I will disagree with you a couple of points about Breitling. Please eat the fish and throw out any bones....

 

1) He has in fact been saying, for over three years, that the indicator we should be watching is the note count. Apart of one of my old mantras of "Follow The Money" came from this notion that the PTB have publicly stated that they were going to reduce the rate back to 1 Billion Notes. The last time they were at 1 Billion Notes the rate was over $3.00.

 

2) Breitling has for over three years been stating that the IQD rate IS a controlled rate namely that it is purposefully being devalued as an economic strategy. He has gone to great lengths to demonstrate how Iraq is following a play from Germany and Japan in their post war rebuilding strategy.

 

I have been listening to Breitling for quite some time now. He does not posit many theories on this thing. That's why I am able to state what I have stated in points 1 and 2 above. He is pretty consistent to me, that's what I appreciate. Amongst the Guru's, he is a top tier guy to me. He did however attempt to initiate a urinating contest with our very own site owner. However in my estimation when it was all said and done, both men were too busy to stick around to see who won.

 

Just some pre-dawn thoughts. Have a Blessed Day!

[MyLadiesDaddy]

I appreciate your thoughts brother as always, and you may be right. I've grown weary

of late. Probably has more to do with my home life, what with taking care of the in laws

and all.

It's just that I'm well aware that even someone who I greatly respect, Adam, also has

his own reasons for this. And that's basically a good thing, we call it capitalism.

I do know that something is about to happen SUDDENLY.

God bless you my dear friend.

[moneysoon]

I appreciate your thoughts brother as always, and you may be right. I've grown weary

of late. Probably has more to do with my home life, what with taking care of the in laws

and all.

It's just that I'm well aware that even someone who I greatly respect, Adam, also has

his own reasons for this. And that's basically a good thing, we call it capitalism.

I do know that something is about to happen SUDDENLY.

God bless you my dear friend.

 

Be not weary in well doing, for in due season, you WIll reap a harvest if you faint not.

 

Blessings

[SocalDinar]

LOL Markinsa , " We do not spam our links on other boards – do not mention other dinar sites here. Only post links to LEGITIMATE NEWS SOURCES."

I guess i did not realize that site was a dinar site.  Surely you do not think I was promoting that company.  But even your response above says links to legitimate news sites only and the Iraqi Journal is not a legitimate news site. You have been around long enough to know this. Poof it just came into existence one day and promoted nothing but good news daily out of Iraq.never a story that would scare off a potential dinar investor.  And the sad part is so many think this is legit. Come on tell me that you really trust this source.  If you do I guess I underestimated your ability to sift through the crud that is posted here daily.  A LEGITIMATE news source would credit the original agency.  The Iraqi Journal does not.  

 

I was just trying to show people that will believe anything written down on paper by man that it is not always true or at least not telling the complete story.  SPIN SPIN SPIN!

Kind of like the KORAN and other books Just stories written by man to control and deceieve people. Just because they exist does not make them true,

[SocalDinar]

This is from The Iraqi Business news.  As many know here a No spin site who often pokes fun at dinar investors.  Looks like the same article with just a few sentences moved around.

 

Come on Breitling How could The Iraqi Journal article be the best article in three years when this came out almost a year ago.

Please note how a real news agency credits the original writer and agency!!!

 

OCTOBER 2013

 

Economists Divided Over Deletion Of Zeros

Posted on 03 October 2013. Tags: Central Bank of Iraq (CBI), dinar, IQD, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation

Pages: 1 2

By Amina al-Dahabi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided. While some support the project and consider it a chance to decrease inflation and unemployment, others warn of economic shocks that may prevail over the Iraqi market as a result of the project’s implementation.

Following amendments made by the CBI, implementation of the project has been postponed several times. This is because of fears that are mostly related to the lack of security, the presence of a market open to foreign commodities without any restrictions, the prevalence of counterfeit money in the market and rampant corruption in the country.

The independent Iraqi News Agency (INA) quoted Abdul Hussein al-Yasiri, a member of the Iraqi parliamentary Finance Committee, as saying that 2014 will witness the deletion of zeros from the Iraqi currency. He noted that the deletion will occur in coordination with the CBI, and that as a result of the project, the number of banknotes in circulation will be reduced from 4 billion to 1 billion.

Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

Nafee Elias, a financial advisor at the North Bank, told Al-Monitor that the step to delete zeros is merely an administrative process, and the currency equation should remain the same. This means that the purchasing power of the new currency should be equal to that of the old currency. He added that the two currencies should both remain in the market for a period not exceeding three years, then the old currency should be gradually withdrawn. Elias expected problems to arise if debtor-creditor transactions are not set according to the new currency, or there are defects in withdrawal or payment transactions. He added that it is unlikely the change will affect inflation or poverty rates.

Ahmed Faizullah, deputy head of the parliamentary Finance Committee, agreed with Elias. Speaking to Al-Monitor, he noted that the deletion of zeros will not affect the Iraqi dinar’s purchasing power, because the latter is linked to the size of industrial production and imports. He added that the CBI’s hard currency reserves have saved the Iraqi dinar and served as a cover for it. Faizullah called for not applying the project at the moment, because it will confuse Iraqis and disrupt the market.

Amid these views, Enas Mohamed, deputy director at Naseem Al Shemal Brokerage Company, told Al-Monitor that the stock market will be harmed the most by a change of currency and the deletion of zeros. The price of a share is one dinar, so currently 1,000 dinars are equal to 1,000 shares. Following the deletion of zeros, the new dinar will be equal to 1,000 shares, which would further confuse the stock market, which is already muddled as a result of the security situation.

Amina al-Dahabi is a political-economic researcher and reporter trained in the field of oil and energy journalism. She holds a doctorate in American Containment Policy.

 

http://www.iraq-businessnews.com/2013/10/03/economists-divided-over-deletion-of-zeros/2/

 

[jim1126]

OR.....

 

They drop the zeroes next week ... .$0.86

 

Then reduce the notes, improving the value x4

 

That gives us $3.56 by the end of the year.

 

yeah!

[Goldiegirl]

This does sound like an older article I have read as well. Nice to see it coming around again. Although we are nearing the later phase of our 2014 so they better get a move on.

[blueskyline]

Al Abadi the head of the Iraq Parlimentary Finance Committee ....

[RicknSaudi]

BINGO where it is said this is an older article. It seems to get a new date every year* gets put back in as a new article but this one has come up in 2012 & again in 2013.

Agreed. Comical really!

[kostaske]

OR.....

 

They drop the zeroes next week ... .$0.86

 

Then reduce the notes, improving the value x4

 

That gives us $3.56 by the end of the year.

 

yeah!

I like your rationale jim +1

[DinarThug]

He's Baaack ...

8-22-2014 Newshound Guru Breitling The note count was about 9 billion and it represented 30 Trillion dinar….but no one knows the exact number…They said they were going to reduce the note count and increase the value…their original target was 1 billion notes at $3 plus per dinar…They’ve come out with 3 articles within the last 12 months. Last October they said they reduced the number of notes from 6 billion to 4 billion with plans to go from 4 billion to 1 billion…but they had just got to 6 billion. …In the third or fourth month of this year they came out and said they were at 4 billion notes. We’re watching them go for the target…why wouldn’t they also go for raising the rate too? That’s confirmation from the CBI that they are going to do what they said they’re going to do…that’s proof since we’re sitting back and looking at the numbers.

[billio0]

I've read everything posted here in this thread, and it seems there are both Breitling supporters and detractors, each arguing for their respective positions.

 

It began as pseudo-news from what appeared to be a reputable Iraq news source, but upon closer inspection was deemed to be a surrogate site by/for Breitling to reinforce his blog site, as well as his views. That's when this thread took the proverbial "turn for the worse," pitting DinarVets member against member, and that's where I choose to chime in. So, here goes once again:

 

No matter what anyone hears, sees, or reads about the goings-on in or about Iraq, nothing as yet has ever translated to an RV that benefits anyone, least of all us here who hold IQD as an investment.

 

And, for those of you who are new or recent to this site, Breitling, before he attained exalted Guru status, was a contributing member of DinarVets, as were most of the more renown DInarian Gurus. That said, I have listened to a few of his earlier programs and found them to be straightforward, informative, and reasonably honest and sincere. Along the way he began to promote other things and people I have no interest in. Thus, I abandoned him, and have remained true to this site exclusively.

 

That is because no matter what else takes place in Iraq or the world, I can rely on lively discourse, occasional RESPECTFUL disagreement amongst members, humor of varying type and kind, and most importantly, up-to-the minute factual information about my investment in IQD.

 

So, I implore those of you who need to express your preference for or against one Guru over another to please refrain from allowing yourselves to forget why we are all here waiting.

 

Thank you.

 

Billio0

 

PS. No, I'm not petitioning to be a Moderator when I grow up! I'm far too lazy for that.

Edited August 23, 2014 by billio0

[buckweetisnotdead]

This is from The Iraqi Business news.  As many know here a No spin site who often pokes fun at dinar investors.  Looks like the same article with just a few sentences moved around.

 

Come on Breitling How could The Iraqi Journal article be the best article in three years when this came out almost a year ago.

Please note how a real news agency credits the original writer and agency!!!

 

OCTOBER 2013

 

Economists Divided Over Deletion Of Zeros

Posted on 03 October 2013. Tags: Central Bank of Iraq (CBI), dinar, IQD, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation

Pages: 1 2

By Amina al-Dahabi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided. While some support the project and consider it a chance to decrease inflation and unemployment, others warn of economic shocks that may prevail over the Iraqi market as a result of the project’s implementation.

Following amendments made by the CBI, implementation of the project has been postponed several times. This is because of fears that are mostly related to the lack of security, the presence of a market open to foreign commodities without any restrictions, the prevalence of counterfeit money in the market and rampant corruption in the country.

The independent Iraqi News Agency (INA) quoted Abdul Hussein al-Yasiri, a member of the Iraqi parliamentary Finance Committee, as saying that 2014 will witness the deletion of zeros from the Iraqi currency. He noted that the deletion will occur in coordination with the CBI, and that as a result of the project, the number of banknotes in circulation will be reduced from 4 billion to 1 billion.

Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

Nafee Elias, a financial advisor at the North Bank, told Al-Monitor that the step to delete zeros is merely an administrative process, and the currency equation should remain the same. This means that the purchasing power of the new currency should be equal to that of the old currency. He added that the two currencies should both remain in the market for a period not exceeding three years, then the old currency should be gradually withdrawn. Elias expected problems to arise if debtor-creditor transactions are not set according to the new currency, or there are defects in withdrawal or payment transactions. He added that it is unlikely the change will affect inflation or poverty rates.

Ahmed Faizullah, deputy head of the parliamentary Finance Committee, agreed with Elias. Speaking to Al-Monitor, he noted that the deletion of zeros will not affect the Iraqi dinar’s purchasing power, because the latter is linked to the size of industrial production and imports. He added that the CBI’s hard currency reserves have saved the Iraqi dinar and served as a cover for it. Faizullah called for not applying the project at the moment, because it will confuse Iraqis and disrupt the market.

Amid these views, Enas Mohamed, deputy director at Naseem Al Shemal Brokerage Company, told Al-Monitor that the stock market will be harmed the most by a change of currency and the deletion of zeros. The price of a share is one dinar, so currently 1,000 dinars are equal to 1,000 shares. Following the deletion of zeros, the new dinar will be equal to 1,000 shares, which would further confuse the stock market, which is already muddled as a result of the security situation.

Amina al-Dahabi is a political-economic researcher and reporter trained in the field of oil and energy journalism. She holds a doctorate in American Containment Policy.

 

http://www.iraq-busi...ion-of-zeros/2/

 

It looks like even the experts are confused about what is proposed, one person says no change in value, no reduction of poverty, Then we have an example of one Dinar being worth 1000 Dinar? I can see that the reduction of the notes in circulation would be a positive for us who hold the Dinar as it will put a demand on the currency that is not there at this time.  All of this is just my opinion based on what I have read. Thanks for putting the articles out there!!

Read more: http://dinarvets.com/forums/index.php?/topic/184795-project-will-lead-to-reducing-the-rate-of-the-national-currency-in-circulation-from-four-billion-to-one-billion-notes/page-2#ixzz3BDJulI1M

[Theseus]

Here are a couple of questions to ponder... if a bank outside of the CBI has dinar, is that dinar said to be in circulation?

 

If that currency is said to be in circulation and each bank according to the CBI is required to have 250 billion dinar, then how in the world, according to this article, is there only 4 billion dinar in circulation?

 

Either someone is doing fuzzy wuzzy mathematics here or someone already lopped off the zeros from the numbers in the article! Even then 15 banks would still have more than 4 billion dinars given each bank only had 2.5 billion dinars (accounting for lopster mathematics). While the numbers may seem incongruous, I think I will just wait for the numbers to be pulled from the magician's hat . You know when the magician states Abracadabra swami salami RV time baby! 

[moneysoon]

Here are a couple of questions to ponder... if a bank outside of the CBI has dinar, is that dinar said to be in circulation?

 

If that currency is said to be in circulation and each bank according to the CBI is required to have 250 billion dinar, then how in the world, according to this article, is there only 4 billion dinar in circulation?

 

Either someone is doing fuzzy wuzzy mathematics here or someone already lopped off the zeros from the numbers in the article! Even then 15 banks would still have more than 4 billion dinars given each bank only had 2.5 billion dinars (accounting for lopster mathematics). While the numbers may seem incongruous, I think I will just wait for the numbers to be pulled from the magician's hat . You know when the magician states Abracadabra swami salami RV time baby! 

Keep in mind that notes and dinars are two different things or equations to consider. A note could be a 25K dinar one so..... the article has validity.

[billio0]

Here are a couple of questions to ponder... if a bank outside of the CBI has dinar, is that dinar said to be in circulation?

 

If that currency is said to be in circulation and each bank according to the CBI is required to have 250 billion dinar, then how in the world, according to this article, is there only 4 billion dinar in circulation?

 

Either someone is doing fuzzy wuzzy mathematics here or someone already lopped off the zeros from the numbers in the article! Even then 15 banks would still have more than 4 billion dinars given each bank only had 2.5 billion dinars (accounting for lopster mathematics). While the numbers may seem incongruous, I think I will just wait for the numbers to be pulled from the magician's hat . You know when the magician states Abracadabra swami salami RV time baby! 

 

Good questions, Theseus.

 

I too used to ponder all of the myriad possibilities of how the IQD supply in circulation translated to a significant upward revaluation that would benefit us as investors in that currency. But, with the logic of the lopsters, which could be true, as well as the unofficial bean counters and rumormongers who take every article coming out of Iraq as some kind of indication that the RV is imminent, I have now adopted the same wait-and-see approach that you advocate.

 

It either will happen to our benefit, or it won't. No amount of speculation one way or the other has had any effect on it in all the years I have been aboard this "ride-to-the-finish."

 

Meanwhile, I choose to visit here daily, glean what is of interest to me from that which is not, and try to have a little fun along the way. It's just my way of maximizing my investment in IQD in ways I never expected when this all began for me.

 

I have yet to have anyone present an answer to the question I posed recently of just where the value of the former Saddam-era Iraq Dinar went when it became virtually worthless during the invasion and war in 2003. In other words, who or what entities actually gained monetarily from all that apparent wealth? Where exactly did it go? Did it just vanish, or did it wind up in the coffers of other countries known and unknown? Was it just a notation on the banker's books, to be corrected at some far off time in the future?

 

If a property I own is devalued as a punitive action against me, and I do what is required to redeem it, there has to be a physical location where it resides while not in my possession. That is what I long to know about the value of the former Iraq Dinar.

 

Once that question is answered, I believe we shall be closer to fully understanding the dynamics of this whole business rather than relying on the guesswork of amateurs posing as the knowledgeable Guru of the Day!

 

Billio0

[_RFJ]

^The Saddam notes were valued out of thin air by Saddam himself. They were only accepted in iraq and as such didn't really have any worldly value what-so-ever.

[Markinsa]

LOL Markinsa , " We do not spam our links on other boards – do not mention other dinar sites here. Only post links to LEGITIMATE NEWS SOURCES."

I guess i did not realize that site was a dinar site.  Surely you do not think I was promoting that company.  But even your response above says links to legitimate news sites only and the Iraqi Journal is not a legitimate news site. You have been around long enough to know this. Poof it just came into existence one day and promoted nothing but good news daily out of Iraq.never a story that would scare off a potential dinar investor.  And the sad part is so many think this is legit. Come on tell me that you really trust this source.  If you do I guess I underestimated your ability to sift through the crud that is posted here daily.  A LEGITIMATE news source would credit the original agency.  The Iraqi Journal does not.  

 

I was just trying to show people that will believe anything written down on paper by man that it is not always true or at least not telling the complete story.  SPIN SPIN SPIN!

Kind of like the KORAN and other books Just stories written by man to control and deceieve people. Just because they exist does not make them true,

 

I'm not a mind reader and I was not defending the legitimacy of this other website; I was only addressing your post which contained links to a Commercial Website selling Website and Web Hosting Services.

 

This post is not a solicitation for you to continue this topic in the open forum. Please follow the forum rules. 

 

-

[Maggie123]

I like Tony Breitling and have listened to his shows years ago. He actually dedicated  a complete show of his on a question of mine that was totally non dinar related and had to do with a business of mine. He Gave me some sound advice and it actually worked out well for me.  Have not listened in for the last 6 months now.

I do remember that he was usually not up to date on Iraq. The articles he would read came from listeners.  Most of those came straight from Yotas ( and others ) posts.

 

The Iraqi Journal is not a real news agency , again just my opinion.

Copywrite laws are being broken. Never a link to an article and they are just copied and pasted.

never any credit given to a writer and they obviously are making money through advertising with that site.

I don't see how it can be legit. 

 

That does not mean the articles are not legit.

 

But Deleting the zeroes is the last thing anyone here should want.

 

But there is no way- no how they will or can delete the zeroes this year. Just not going to happen

 

 

S

 

SocalDinar...You have always had a good eye for spotting (insert description)... Thank You For Looking Out For Us.

 

You Too Thuggie...  

 

Appreciate You Guys

[billio0]

^The Saddam notes were valued out of thin air by Saddam himself. They were only accepted in iraq and as such didn't really have any worldly value what-so-ever.

 

Thanks RFJ.

 

If what you say is true, then what was the importance of DE-valuing them in the first place?

 

Apparently, those Dinar were worth something to someone other than in-country in Iraq. Otherwise, what purpose could they serve in funding anything Saddam intended using them for?

 

Just asking the question, because it has always been the basis of my getting involved in the IQD in the first place. The premise has always been, at least from my understanding, that the value was removed by the invading coalition forces to prevent their use in mounting an effective defense.

 

I'm simply trying to get to the bottom of what has become a huge mystery to me of just where/who exactly that value went to, and where is it now. If your information is correct and accurate, then this really is a pipe dream!

 

Billio0

[_RFJ]

^No problem. First off I'm very pro RV. The dinar did have a true and natural value above the dollar for years before Saddam. Then Saddam did what he did, went wild with printing the currency, so on / so forth, and as a result of that, the value of the currency naturally, and quickly, fell to $1 to 3000 dinar.

I do believe that one day the dinar will return to its pre Saddam value. However saying the dinar was devalued by the international community is nothing but guru hype. Below you can read it straight from the mouth of the CBI...

http://www.cbi.iq/index.php?pid=History

1990 - 2003

After the Gulf War in 1991, and due to the economic blockade, the previously used Swiss printing technology was no longer available. A new, inferior quality notes issue was produced. The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to excessive government printing of the new notes issue, the dinar devalued quickly, and in late 1995, US$1 was valued at 3,000 dinars.

[DinarThug]

The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq.

The Swiss Dinar Was Later Followed By The 'Velveeta' Dinar !

[Texas1]

The Swiss Dinar Was Later Followed By The 'Velveeta' Dinar !

Later brought forth by the American cheezy dinar

[Rockymtnhi]

Well Look Who Just Chimed In ...

 

 

 

8-19-2014 Newshound/Intel Guru Breitling What would be an indicator that we'd know that they were going to revalue?   I've been talking about it for 3 and a half years.  It's the note count.  It always has been the note count…we were hoping chapter 7 would reduce the note count.  ch 7, what would it trigger?  It would trigger them reducing the note count.  That's what we were hoping for.  Article yesterday says…They're reducing the note count therefore it's going to help add value to the currency…!

 

 

4-19-2014 Newshound/Intel Guru Breitling …Since 2010 they reduced the note count from 9 Billion notes to 6 billion notes…from 6 billion notes to 4 billion notes and then the article that came out yesterday…they are going to go from 4 billion notes to 1 billion notes.  Did they take the notes and LOP the zeros off and leave the rate on it?  NO!  They actually physically got rid of the notes…and the notes that are left are going to gain value.  As the dinar goes up they will bring in new notes but that is different…the existing notes will co-exist for 3 years.  this is the best article we've gotten in the past 3 years!

If they have indeed reduced the note count from 9 Billion to 4 Billion since 2010 the dinar should have increased in value dramatically...BUT it hasn't.  It has dropped in value.  Also, the stated money supply by the CBI does not indicate any such reduction has taken place.  Just more propaganda from this Breitling guy maybe so he gets richer selling more dinar to people believing him.