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Keywords: delete the zeros existing project and we have given the green light for its implementation


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This is NOT good news. Take off the blinders people. We will get nothing from this investment but some quite beautiful wall paper. Time to stop   and move on. 

Actually it could lead to move the Decimal from 1166.00 to 1.166 which would reflect 1.17 after rounding off the 6  and we continue to wait...and GM DV

Keywords: delete the zeros existing project and we have given the green light for its implementation   Tuesday 3 March 2015 12:47         Alsumaria News / Baghdad  announced the Governor of the Ce

Hello fellow Dinarian's. I have a question as I am fairly new to much of this. If the 3 zeros are deleted, wouldn't that make them worth about what we paid for them? i.e. $25 for 25,000?


I have heard so many differing opinions of the end results but I'm not sure how the value is determined?  Is it also possible that our own currency will be devalued in coordination with the Dinar so it ends up about equal even if it is a larger figure?

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Welcome aboard Don, 

 

That depends of your definition of Delete the Zeros.  :lmao:

 

​Truth is they have given so many scenarios with that phrase that it's 

 

probably the best kept secret in the world. However, what you describe is a

 

L O P, and that wouldn't take two yrs to complete. And truthfully would have

 

already been done if that was the plan.

 

 

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Sort of wished AM would have commented on this particular article in today's chat. I know he has given his opinion before on this topic, but I would have liked to get his spin on this new one, especially at this time being released.

 

He did missed this one, didn't he?  Most of us thought he was in the chat room loading up for a sudden "drive by" when we couldn't log in - but as we were informed, the chat room was under repair.  No matter, take it as positive news that things are moving regardless....

 

And later, I'll continue to have some more whiskey shots regardless in the meantime while waiting indeed...

 

Cheers,

Freedomwish  :cheesehead:

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Welcome aboard Don, 

 

That depends of your definition of Delete the Zeros.  :lmao:

 

​Truth is they have given so many scenarios with that phrase that it's 

 

probably the best kept secret in the world. However, what you describe is a

 

L O P, and that wouldn't take two yrs to complete. And truthfully would have

 

already been done if that was the plan.

 

 

 

 

LGD,

 

Just asking a question--no negging here.....

 

Just trying to understand why it would already be done by now if it was going to lop? Can you explain why to me? 

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I'll tell you what Bravo 11 said. 

 

He claimed the RV would happen in March of 2015

 

Several yrs ago. 

Thanks LGD. I thought I remembered him saying a longggg time ago something about early 2015. I have been meaning to go back and reread his previous posts. Does anyone know what ever happened to sonny1?

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LGD,

 

Just asking a question--no negging here.....

 

Just trying to understand why it would already be done by now if it was going to lop? Can you explain why to me? 

Shabs always spoke of stability being a prerequisite to deleting the zeroes. 

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Sort of wished AM would have commented on this particular article in today's chat. I know he has given his opinion before on this topic, but I would have liked to get his spin on this new one, especially at this time being released.

 

I agree with you, Northern.  

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LGD,

 

Just asking a question--no negging here.....

 

Just trying to understand why it would already be done by now if it was going to lop? Can you explain why to me? 

 

A l o p is a neutral event and requires very little, if any , study as they

 

are frequently done in countries with high inflation. Iraq doesn't fit that bill

 

and they have been studying the zeros plan for as long as I've been in dinar.

 

In my view when they are talking about the delete the zeros they are either 

 

​referring to removing the large three zero notes from circulation, or they are 

 

referring to this .00086 delete zeros .86

 

Of course the latter would be much more beneficial for us, but in practice they 

 

are not likely to do that. So if it means to pull in the triple notes then one can 

 

surmise that they mean to come out around ten cents or so and begin the two yr 

 

process of bringing in the large notes.

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THERE ARE THOSE IN THE COMMUNITY - AFTER THESE ARTICLES WERE RELEASED, THAT STATED WE COULD SEE AN INTRODUCTION OF LOWER DENOM NOTES - INITIALLY APPEARING AS A LOP, WITH A SLOW, BUT STEADY GAIN OF THE DINAR OVER THE COURSE OF TWO YEARS..

 

I AM NOT SAYING I BELIEVE THIS - I JUST WANTED TO STATE THE INFO

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Not sure how we get to the .00086? I have heard from AM that he thinks it makes some sense to do it at .10, I like the .86 way better! But trying to understand how we get that number? Sorry I'm a bit green here.

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Not sure how we get to the .00086? I have heard from AM that he thinks it makes some sense to do it at .10, I like the .86 way better! But trying to understand how we get that number? Sorry I'm a bit green here.

 

1/1166

 

-

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TBomb,

 

what do you think this is telling us? good news or not? 

 

 

I'm concerned right now about exactly the role parliament will play in working with the CBI - as you know, we've seen several mentions in this thread that the CBI needs parliament approval - this need (in some articles) can be connected to paying for the printing - but others imply that there may be a need for other legislative changes/laws -or amendments to existing laws-

 

so one of the delete the zeroes articles from yesterday mentioned a parliamentary "minicommittee"  I have to wonder if this article contains references to this committee

 

 

 

Economic Commission: Iraq has 16 prominent experts in the planning over the last decade .. and watching the work of the four Ministries
 
 
 
 
 
In the House of
 
Representatives Committee confirmed that the economic decline in the government's performance and sagging state institutions due to poor planning, revealing the migration of 16 of the most prominent and the Ministry of Planning and experts over the past decade. The committee said it was monitoring the work of four ministries and independent bodies are the investment and the central bank, confirming that it was involved in a legal amendment of the Investment and the Central Bank.
 
He says Harith Chanchal, vice president of the Economic Committee in the House of Representatives, said that "the work of the Economic Commission limited follow-up work of the ministries of trade, planning and finance, industry and minerals and investment authorities and the central bank," pointing out that "all the concerned ministers and the heads of these bodies has hosted the Commission to discuss the possibility of developing the economy and investment. "
 
 
 
He said Chanchal in an interview with the "long", saying that "one of the biggest problems facing the work of the Ministry is planning to leave more than 16 experts out of Iraq over the past decade, causing weakness of the work of the ministry as a solution incompetent people in their place."
And on the assessment of the Economic Commission for the performance of the Ministry of Industry and its affiliated institutions,
 
 
 
Chanchal says that "the ministry Off After converting companies and laboratories affiliated to the self-financing as a result of lack of support from the state of the economy has led to sagging in the number of employees," revealing "the presence of more than 174 funded company self stopped working and keep track of the Ministry of Industry and Minerals. 
 
 
For his part, says MP Osman Tahir Haji, the other member of the Economic Committee, that "the Commission has distributed its members to five sub-committees, each supervised by the Ministry or body," noting that his committee "is trying to provide support to the agricultural,
tourism and industrial sectors."
 
 
 
Attention Haji, told the "long", that "the Iraqi state began to spend on religious tourism sector rather than a tributary of the economic sector through the allocation of large religious tourism money in the events."
In turn, MP Najiba Najib reveal "Economic Commission to develop a comprehensive plan for the next four years include the amendment of the Investment Act in a manner consistent with the development of the countries of the world."
 
 
According to Najib, in a telephone conversation with the "long", to "the existence of major problems facing foreign investment companies that intend to enter into Iraq eg difficulty obtaining visas by the Ministry of Interior as well as the allocation of land for investment  process."
 
 
 
 
Draws Kurdish MP to "the reluctance of local and foreign banks for the funding and support of investment projects," indicating that "the problem of the Iraqi economy lies in the central provinces not to grant freedom of investment to attract foreign companies."
 
 
 
Reveals a member of the Economic Committee that "the new amendments, which will occur on the investment law will give the provinces the powers of investment and the agreement with foreign companies," emphasizing that "the strategy committee focused on encouraging the private sector and give it a significant role in the construction and reconstruction process."
 
 
 
And on the performance of the central bank and the challenges it faces in the current financial crisis, MP Najiba Najib says "the central bank law is being amended by the State in order to send it to parliament," she said, adding that "the Bank's management conservative on one of the paragraphs of the federal budget, which provides for the identification sales of the currency. "
 
***as we know the goi has added laws to the budget - this, in effect, because they are now in the gazette makes them law - but I would think they would require more formal language, esp re the auctions...we'll see
 
Najib stressed that "the central bank will lend the government to cover the deficit indirectly through the purchase of treasury transfers the interior or exterior of the Ministry of Finance and the interest rate," pointing out that "the central possesses a reserve of about 77 billion dollars."

 

 
 

Read more: http://dinarvets.com/forums/index.php?/topic/197779-cabinet-decisions-session-no-8-on-02242015/#ixzz3TTdGIh1F

 

It certainly seems there's much they're not telling us - I would think being that these articles continually reference the 75M auction cap, that they're stating (to some level) that the auction guidelines (new) need to be addressed in legislation somehow - that just an opinion...something to think about. 

 

the other option is that either separately, or in conjunction with a potential law governing the auctions, they seem to be needing to address a governmental approval for printing currency (in these zero articles).  

 

For the private banks to pay back the Cbi,  they are going to have to have the ability to charge interest this is against (current) Islamic law - except we saw articles last year stating that they passed the Islamic Banking Act - although I've yet to see it in the gazette.

 

There's been talk in the community about "The Law Of Indebtedness" this law is said to address this - however, there's no such law in the gazette - so they either have named it something different, or will create it, or will amen/append this to another law.

 

There is a law in the gazette named, (something like) Agreement for Islamic Trade - I've not been able to get a translation of this (no copy or paste pdf) - I don't think it addresses Islamic Banking interest regulations however.

 

I have to say that it has been bugging me that they would put out this press release when they know there's much speculative investment with regard to holder's of their currency, all over the globe.  I just feel they wouldn't announce anything connected to an RV. We have been told that the introduction of new notes is simply a neutral event, and perhaps that's the position from where these articles are coming ?

 

I'm not going to say more, because I have more research to do...

 

one thing to note...we should keep watch for any potential change in the ISO codes.

Edited by TBomb
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Agreed! Remove 3 zeros from a trillion and you get a billion. Deleting 3 zeros gets a green light so our green light to the bank can't be far away!

Thanks Yota!

And take whatever amount you hold, remove three 0's, same thing. I don't see how that makes a singing, skipping, jolly trip to the bank. Sorry.

Might pay for the gas, unless you are actually skipping.

Edited by FatMan
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Central Bank Governor for "Qurtas News": the conditions of private banks do not fear them good
 
      Wednesday   04   March   2015 | 12:41
 
NB-85749-635610589808933273.jpg
 
 
 
 
 
 

Qurtas News / Baghdad

 

 

Governor of the Central Bank announced on the Keywords, Wednesday, that the conditions of good private Iraqi banks do not fear them, among the bank seeks to put laws in support of the banking sector.

Keywords and said in a statement to "Qurtas News" that "talk which arises from here and there, about sagging work of the Iraqi private banks, or they live is the word crisis is real, and is intended to tarnish the image of banks and disrupt their work."

 

 

"The central bank is not only an observer to the work of those banks, but it is a real and effective partner with them, as well as it is to promote cooperation and support in every way that it seeks to one of the basic pillars of the building of the Iraqi economy."

He said the "private banks after recent decisions issued by the Central Bank, is in good condition and working according to distinct banking standards, and there is no faltering banks or bankrupt or does not work, except for the Bank of the economy, which is now under the tutelage and Sizawl over the next few stage work normally after condition improves. "

 

 

"The Central Bank supports all banks without exception and treat a single transaction," noting that "the bank to put some laws to support the banking sector is seeking through the deposit law, and this law is under study and will soon be submitted to parliament for legislation, as well as amendments that are being studied ".

 

 

It consists of the Iraqi banking system of 54 banks, including seven state banks an Islamic one of them newly established, there are 23 commercial banks, special, 9 of which are Islamic banks, and there are also 15 branches of foreign banks, and there are many institutions that do some banking business, including 34 companies transform Mali and nearly 200 affiliated banks foreign exchange company or deal with the banks, with the Loan Guarantee Company and the financing of small and medium-sized enterprises, with the two companies for services electronic banking and smart card, in addition to nearly 800 branches belonging to the banks and distributed all over the governorates of Iraq

 

 

http://www.alqurtasnews.com/news/85749/%D9%85%D8%AD%D8%A7%D9%81%D8%B8-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%84%D9%80%D8%A7%D9%84%D9%82%D8%B1%D8%B7%D8%A7%D8%B3-%D9%86%D9%8A%D9%88%D8%B2-%D8%A7%D9%88%D8%B6%D8%A7%D8%B9

 

 

 

 


BING TRANSLATION

 

Al-qurtas news/Baghdad

The Governor of the Central Bank on the relationship, Wednesday, the Iraqi banks for good and do not fear them, among the World Bank seeks to put forward laws to support the banking sector.

The relationship, he said in a statement to Al-qirtas "news" that "talk that arises here and there about the sagging banking ist or crisis is not real, and is intended to tarnish the image of banks and overwhelming".

"The Central Bank is not only an observer to the banks, but it is a real and active partner with them as well as he seeks to enhance cooperation and support in every way because one of the main pillars of the Iraqi economy."

The "private banks after recent decisions issued by the Central Bank, is in good condition and in accordance with the standards of banking, and there is no faltering banks, bankrupt or not, with the exception of the Bank of the economy, is now under the Trusteeship and the coming stage will serve work normally after the improvement in the situation."

"The Central Bank supports all banks without exception and treats them as one transaction", indicating that the Bank is seeking to put up some laws to support the banking sector through the law on deposit, and this law under study and will soon be submitted to Parliament for legislation, as well as amendments are considered ".

The Iraqi banking system consists of 54 banks, including State banks, one Muslim 7 modern origins, there are 23 commercial banks, of which 9 private Islamic banks, there are also 15 branches of foreign banks, and there are many institutions that some banking, including 34 company transfer and approximately 200 company money to banks or dealing with banks, with credit guarantee company for the financing of small and medium-sized enterprises, with two electronic banking and smart card, in addition to some 800 branches of banks and spread over all Governorates of Iraq.

Edited by TBomb
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Launch the green light to the deletion of zeros from the Iraqi dinar

March 4, 2015, 11:48

BAGHDAD – ((eighth day))

Governor of the Central Bank announced on the Keywords, to deletethe zeros existing project, as pointed out it was given the green light for its implementation, he stressed that this process will be preceded by regulatory and administrative operations.

And he said: “The project to delete the zeros is based was put intopractice, and we gave the green light to start with,” noting that “The project needs a period of time may extend to two years or more.”

Keywords and added that “this process will be preceded by regulatory and administrative processes and the form in which it will start moving in,” adding that “the Bank began creating currency models and training of cadres to it.”

The Iraqi Central Bank announced in May 2012 that the process of deletion of zeros from the country ofIraq will be transferred to the trillions of billions, indicating that the process of replacing the currency needs to be approved by parliament.

He accused the central bank, in (12 September 2011), government agencies obstructing monetary reform and vowed to persecuting, blaming those actors responsible for exposing the financial interests of thecountry to danger.

It is noteworthy that some economists believe that Iraq is not ready at the moment to delete the zerosfrom the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as the stability of the economy. | ST |

8th-day.com

 

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