Restructuring of Iraqi Currency

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IQD Currency & Central Bank of Iraq Exchange Rate News

Central Bank of Iraq Restructuring Iraqi Currency Deleting Zeros

August 13, 2016 by Nick Giammarino Leave a Comment

Until now, the only translations we have had of official CBI (Central Bank of Iraq) documents have been machine auto translations, this one is the real deal. I first mentioned this in my YouTube video on the CBI. Translated by a professional translator fluent in both English and Arabic, here is what the CBI said regarding deleting the zeros.

Last Updated On: August 13, 2016
By: Nick Giammarino

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اﻋﺎدة هيكلة اﻟﻌﻤﻠﺔ اﻟﻌﺮاﻗﻴﺔ

ﻣﺸﺮوع ﺣﺬف اﻻﺻﻔﺎر اﻟﺜﻼﺛﺔ وكلف اﻟﻤﻌﺎﻣﻼت اﻟﻨﻘﺪﻳﺔ

د .ﻣﻈﻬﺮ ﻣﺤﻤﺪ ﺻﺎﻟﺢ ﻗﺎﺳﻢ

ﻧﺎﺋﺐ ﻣﺤﺎﻓﻆ اﻟﺒﻨﻚ اﻟﻤﺮكزي اﻟﻌﺮاﻗﻲ

2012  كاﻧﻮن اﻟﺜﺎﻧﻲ

Restructuring of Iraqi currency

Deleting the three zeros and the cost of monetary transactions project

Dr.Mathhar Mohammed Saleh Qasem

Deputy Governor of the Central Bank of Iraq

January 2012

ﻓﻲ ﻇﻞ اﻟﻈﺮوف اﻻﻗﺘﺼﺎدﻳﺔ واﻟﻤﺎﻟﻴﺔ اﻟﻤﺘﻘﻠﺒﺔ وﺿﻐﻮط اﻟﺘﻀﺨﻢ اﻟﻨﻘﺪي اﻟﺘﻲ ﺣﻠﺖ ﻓﻲ ﺑﻼدﻧﺎ ﺳﺎﺑﻘﺎ ،وادت اﻟﻰ اﺛﺎر ﺳﻠﺒﻴﺔ ﻋﻠﻰ اﻧﺘﻈﺎم اﻟﺴﻮق اﻟﺘﺠﺎرﻳﺔ واﺳﻮاق اﻟﻌﻤﻞ واﻻﻧﺘﺎج   ﻓﻘﺪ ﺗﻮﻟﺪت ﺗﺸﻮهﺎت آﺜﻴﺮة  ﻓﻲ اﻟﺒﻨﻰ واﻟﻌﻼﻗﺎت اﻻﻗﺘﺼﺎدﻳﺔ واﻟﺘﻲ ، آﺎن ﻣﻦ ﺑﻴﻨﻬﺎ ﺗﻮاﺟﺪ آﺘﻠﺔ ﻧﻘﺪﻳﺔ آﺜﻴﺮة اﻻﺻﻔﺎر ﻗﻠﻴﻠﺔ اﻟﻘﻴﻤﺔ وﻋﻠﻰ ﻧﺤﻮ ﻻ ﻳﺘﻨﺎﺳﺐ واﻟﺘﻄﻮرات   ﻣﻤﺎ ﻳﻘﺘﻀﻲ اﻳﺠﺎد ﺣﻞ ﻟﻬﺬﻩ اﻟﻈﺮوف ، اﻟﻤﻘﺒﻠﺔ ﻓﻲ ﺣﺎﺿﺮ وﻣﺴﺘﻘﺒﻞ اﻻﻗﺘﺼﺎد اﻟﻌﺮاﻗﻲ وﻣﺨﻠﻔﺎﺗﻬﺎ، وﻣﻦ هﺬﻩ اﻟﺤﻠﻮل اﺻﻼح ﻧﻈﺎم ادارة اﻟﻌﻤﻠﺔ اﻟﻨﻘﺪﻳﺔ ﻣﻦ ﺧﻼل هﻴﻜﻠﺘﻬﺎ و ﺣﺬف   . اﻻﺻﻔﺎر ﻣﻨﻬﺎ ﻟﻠﺴﻴﻄﺮة ﻋﻠﻰ ﺗﺪﻓﻖ وادارة آﻠﻔﺔ اﻟﻜﺘﻠﺔ اﻟﻨﻘﺪﻳﺔ ﻋﻠﻰ ﻧﺤﻮ اﻣﺜﻞ

Under the unstable economical and financial circumstances, and the pressure of inflation which our country has faced before resulting in negative outcomes on the uniformity of the marketplace, labor markets, productivity and citizen’s living standards, a lot of distortions were produced which affected the economic structures and relations that included the existence of a monetary mass having a lot of zeros but a little value in a way not suitable for the upcoming development in the present and the future of Iraqi economy. This requires finding a solution for these circumstances and their remnants. One of the solutions is to fix the system of currency management by restructuring and deleting the zeros from it to control the flow and monetary supply cost management in an efficient manner.

ﺗﺮﻟﻴﻮن دﻳﻨﺎر ﻋﺮاﻗﻲ ﺑﻤﺨﺘﻠﻒ اﻟﻔﺌﺎت 30 ان ﺗﺪاول آﺘﻠﺔ ﻧﻘﺪﻳﺔ ﻣﺼﺪرة ﺗﺮﺑﻮ ﻋﻠﻰ  ﻣﻠﻴﺎر ورﻗﺔ ﻧﻘﺪﻳﺔ هﻲ ﻧﺘﺎج ﻣﺮﺣﻠﺔ ﻃﻮﻳﻠﺔ ﻣﻦ 4 واﻟﺘﻲ ﻳﻌﻜﺴﻬﺎ ﻋﺪد اﻻوراق اﻟﻤﺘﺪاوﻟﺔ اﻟﺒﺎﻟﻐﺔ  ﺣﻴﺚ ارﺗﻔﻊ ﻋﻠﻰ ﺳﺒﻴﻞ اﻟﻤﺜﺎل اﻟﺮﻗﻢ اﻟﻘﻴﺎﺳﻲ ﻻﺳﻌﺎر اﻟﻤﺴﺘﻬﻠﻚ ، اﻟﺘﻀﺨﻢ واﻟﺘﺪهﻮر اﻻﻗﺘﺼﺎدي  ﻣﻤﺎ ﻳﻌﻨﻲ ان اﻟﺴﻠﻌﺔ اﻟﺘﻲ 2003  ﻓﻲ  ﺧﻀﻢ اﻟﻌﺎم 200000  اﻟﻰ 100  ﻣﻦ 1993 ﺑﺎﺳﺎس  دﻳﻨﺎر … وهﻜﺬا . وﺗﺤﺖ هﻜﺬا ﻇﺮف 200000  دﻳﻨﺎر اﺻﺒﺤﺖ ﺗﺒﺎع ﺑـ 100 آﺎﻧﺖ ﺗﺒﺎع ﺑـ  دﻳﻨﺎر ﻣﻤﺎ ﻳﻌﻨﻲ ان 25000  دﻳﻨﺎر اﻟﻰ 25 وﺗﺪهﻮر ﻗﻴﻤﺔ اﻟﻌﻤﻠﺔ ارﺗﻔﻌﺖ ﻓﺌﺔ اﻟﻌﻤﻠﺔ اﻻآﺒﺮ ﻣﻦ اﻟﺘﻀﺨﻢ هﻮ اﻟﺬي اﺿﺎف هﺬﻩ اﻻﺻﻔﺎر

The circulation of the issued monetary mass exceeds 30 trillion Iraqi Dinars in different categories which is reflected by the number of bills in circulation which is 4 million bills. This is as a result of a long period of inflation and economical deterioration, since for example the record of the consumer prices have increased from 100 in 1993 to 200000 in the year of 2003 which means that the product that used to be sold by 100 Dinars is now sold by 200000 Dinars and so on. Under this circumstance and the deterioration of the value of the currency, the biggest category of currency increased from 25 Dinars to 25000 Dinars which means that the inflation is the reason the zeros were added.*

25 *ﻻ ﺗﺘﻨﺎﺳﺐ ﻓﺌﺎت اﻟﻌﻤﻠﺔ  اﻟﺤﺎﻟﻴﺔ ﻣﻊ اﻟﻮﺿﻊ اﻻﻗﺘﺼﺎدي اﻟﺮاهﻦ واﻟﻤﻘﺒﻞ. ﻓﻌﻠﻰ ﺳﺒﻴﻞ اﻟﻤﺜﺎل و ﻗﺒﻴﻞ اﻧﺪﻻع اﻟﺤﺮب اﻟﻌﺮاﻗﻴﺔ اﻻﻳﺮاﻧﻴﺔ آﺎﻧﺖ ﻓﺌﺔ  اﻟـ  اﻟﻒ دﻳﻨﺎر  .ﻟﻘﺪ اﺿﺎف اﻟﺘﻀﺨﻢ اﻟﻤﺎﻟﻲ ﻓﻲ اﻟﺒﻼد ﻋﻠﻰ ﻣﺪى 300  دوﻻرا ﺑﺎﻟﻘﻮة اﻟﺸﺮاﺋﻴﺔ ﻟﺬﻟﻚ اﻟﻮﻗﺖ او ﻣﺎ ﻳﻌﺎدﻟﻬﺎ ﻓﻲ اﻟﻮﻗﺖ اﻟﺤﺎﺿﺮ 75 دﻳﻨﺎرا ﺗﻌﺎدل  اﻟﻒ دﻳﻨﺎر 25 ﺛﻼﺛﺔ ﻋﻘﻮد ﻣﻦ اﻟﺰﻣﻦ اﺻﻔﺎرا اﻟﻰ اﻟﻌﻤﻠﺔ وﻋﻠﻰ اﻟﺮﻏﻢ ﻣﻦ ذﻟﻚ ﻟﻢ ﺗﺮﻓﻊ ﺗﻠﻚ اﻻﺻﻔﺎر ﻣﻦ اﻟﻘﺪرة اﻟﺸﺮاﺋﻴﺔ ﻻآﺒﺮ ﻓﺌﺔ ﻣﻦ اﻟﻌﻤﻠﺔ وهﻲ اﻟـ  دوﻻرا . وﻧﺤﻦ ﺑﺤﺎﺟﺔ اﻟﻴﻮم اﻟﻰ اﻋﺎدة هﻴﻜﻠﺔ اﻟﻌﻤﻠﺔ . ﻓﺎﻻﺻﻔﺎر اﻟﻜﺒﻴﺮة ﺗﻌﻨﻲ آﺘﻠﺔ ﻧﻘﺪﻳﺔ آﺒﻴﺮة ﻓﻲ اﻟﺘﺪاول ﺗﺒﻠﻎ اﻟﻴﻮم ﻗﺮاﺑﺔ 21 و اﻟﺘﻲ ﺗﺴﺎوي اﻟﻴﻮم  ﺗﺮﻳﻠﻴﻮن دﻳﻨﺎر ﻣﻤﺎ ﺗﻄﻠﺒﻪ ﻣﻦ ﺗﺪاول ﻧﻘﺪي ﻣﺒﺎﺷﺮ واﻟﻰ آﻠﻔﺔ آﺒﻴﺮة ﻓﻲ اﻟﻌﺪ واﻟﻔﺮز وﻣﺎ ﺗﺴﺘﻐﺮﻗﻪ ﻣﻦ وﻗﺖ وﺧﻮاص ﻣﻜﺎﻧﻴﺔ واﻣﻨﻴﺔ . ﻓﻔﻲ ﻧﻈﺎم 30 اﻻﺳﻌﺎر، ﻳﻌﺪ اﻟﺴﻌﺮ هﻮ اﻟﻘﻴﻤﺔ ﻣﻌﺒﺮ ﻋﻨﻬﺎ ﺑﺎﻟﻨﻘﺪ وﻣﻦ ﺛﻢ ﻓﺎن هﻴﻜﻞ اﻟﺘﻜﺎﻟﻴﻒ واﻟﻤﺪﻓﻮﻋﺎت اﻻﺟﺮﻳﺔ واﻟﺮواﺗﺐ واﻗﻴﺎم اﻟﻤﻌﺎﻣﻼت أﻣﺴﺖ ﺟﻤﻴﻌﻬﺎ ﻻ ﺗﺘﻨﺎﺳﺐ ﻣﻊ ﺣﺎﺟﺔ اﻟﺒﻼد اﻟﻰ ﻧﻈﺎم ادارة ﻧﻘﺪﻳﺔ ﻳﻨﺴﺠﻢ وهﻴﻜﻠﺔ اﻟﻘﻄﺎع اﻟﺤﻘﻴﻘﻲ واﻟﻤﺴﺘﻮﻳﺎت اﻟﺴﻌﺮﻳﺔ اﻟﺘﻲ ﺑﻠﻐﻬﺎ . ﻓﺎﻟﺒﻼد ﺑﺤﺎﺟﺔ اﻟﻰ ﻧﻈﺎم ﻧﻘﺪي ﺳﻬﻞ   . ( اﻟﺘﻌﺎﻣﻞ

* The current currency categories are not suitable with the economical situation in the present and for the future. For example, before the Iraqi-Irani war, the category of 25 Dinars was equal to 75 US Dollars in the purchasing power of that time or its equivalent to 300 thousand Dinars in the present time. The inflation, during the time of thirty years increased zeros to the currency and in spite of that it did not increase the purchasing power of the highest category of the currency which is 25 thousand Dinars which is equivalent to 21 US Dollars. Today we are in need of restructuring the currency. The big zeros mean a big mass of cash in circulation which is equal to about 30 trillion Dinars today which is required for direct monetary circulation and has a greater cost in counting and sorting, it also takes time as well as storage and security facilities. In the system of costs, the cost is the value expressed by cash so the structure of the costs, wages payments, salaries and the execution of dealings are all not suitable with the requirement of the country to have a monetary management system which is compatible with the structuring of the real sectors and the price levels it reached. The country needs a convenient cash system from small and big categories expressing the cost of that real structure. (Refer to the details in the next page’s footnote).

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ازداد ﺗﻀﺨﻢ اﻟﺮﻗﻢ اﻟﻘﻴﺎﺳﻲ ﻻﺳﻌﺎر اﻟﻤﺴﺘﻬﻠﻚ 2007-1990 و ﻳﻠﺤﻆ ان ﺧﻼل اﻟﻤﺪة  %وﺑﻐﻴﺔ اﻟﺘﺒﺴﻴﻂ ﻓﺄن اﻟﺴﻠﻌﺔ اﻟﺘﻲ آﺎﻧﺖ ﺗﺒﺎع ﺑﻤﺌﺔ دﻳﻨﺎر ﻗﺒﻞ ﺑﺪء ﺣﺮب اﻟﻜﻮﻳﺖ 400000 اﻟﻰ  . ﻋﻠﻤًﺎ ان ﻗﻴﻤﺔ اﻟﺪﻳﻨﺎر 2007  دﻳﻨﺎر ﻓﻲ اﻟﻌﺎم 400000  اﺻﺒﺤﺖ ﺗﺒﺎع ب 1990 ﻓﻲ اﻟﻌﺎم  %ﻣﻘﺎﺑﻞ اﻟﺪوﻻر 99  ﺑﻤﻌﺪل اآﺜﺮ ﻣﻦ 1998-1990 اﻟﻌﺮاﻗﻲ اﻧﺨﻔﻀﺖ ﻣﺮﺗﻴﻦ وﺑﺸﺪة ﺧﻼل ﻣﺪة 1997  واﻻﻧﺨﻔﺎض اﻻﺧﺮ آﺎن ﻓﻲ اﻟﻌﺎم 1990 اﻻﻣﺮﻳﻜﻲ . ﻓﺄن اﻻﻧﺨﻔﺎض اﻻول آﺎن ﻋﺎم  %ﻣﻤﺎ ﺟﻌﻞ اﺟﻤﺎل اﻻﻧﺨﻔﺎض ﻓﻲ ﺳﻌﺮ ﺻﺮف اﻟﺪﻳﻨﺎر اﻟﻌﺮاﻗﻲ ازاء اﻟﺪوﻻر 93.2 وﺑﻨﺴﺒﺔ  وان ﺧﻼل هﺬﻩ اﻟﻤﺪة ﻟﻮﺣﺪهﺎ ﺑﻠﻎ 1998  (%ذﻟﻚ ﻓﻲ ﻧﻬﺎﻳﺔ اﻟﻌﺎم 99.99 ﺑﻮاﻗﻊ) ﺳﺎﻟﺐ   . %45000  اﻟﺘﻀﺨﻢ  ﻓﻲ اﻟﺮﻗﻢ اﻟﻘﻴﺎﺳﻲ ﻻﺳﻌﺎر اﻟﻤﺴﺘﻬﻠﻚ

It is noticed that during the period 1990-2007 the record of inflatio for the consumer prices has increased to 400000%. For simplification, the product which used to be sold by one hundred Dinars before the Kuwait war in 1990 is now sold by 400000 Dinar in the year of 2007. Note that the value of Iraqi Dinar has fallen twice severely during 1990-1998 at the rate of more than 99% compared to the US Dollar. The first fall was in 1990 and the second one was in 1997 by 93.2% which made the total fall in the exchange price of the Iraqi Dollar compared to the Dollar (-99.99%) in the end of 1998. During this time only, the inflation in the record for the consumer prices has reached 45000%.

واذ ﻣﺎﻋﻠﻤﻨﺎ ان اﻟﺘﻀﺨﻢ ﻳﻌﻨﻲ ﺑﻨﻔﺴﻪ ارﺗﻔﺎع اﺳﻌﺎر اﻟﻨﻘﻮد   ﻋﻠﻰ اﻟﺴﻠﻊ  price  واﻟﺨﺪﻣﺎت ) اي آﻢ ﻣﻦ اﻟﻨﻘﻮد ﻧﺤﺘﺎج ﻟﻤﺒﺎدﻟﺘﻬﺎ ﺑﺤﺰﻣﺔ ﻣﻌﻴﻨﺔ ﻣﻦ اﻟﺴﻠﻊ واﻟﺨﺪﻣﺎت .. ﻓﻜﻠﻤﺎ ﺗﺰداد آﻤﻴﺔ اﻟﻨﻘﻮد اﻟﻤﺨﺼﺼﺔ ﻟﻤﺒﺎدﻟﺘﻬﺎ ﻋﻠﻰ اﻟﺤﺰﻣﺔ ﻧﻔﺴﻬﺎ ﻣﻌﻨﻰ ذﻟﻚ ان هﻨﺎك ﺗﻀﺨﻢ او   وان ، ارﺗﻔﺎع ﻓﻲ اﺳﻌﺎر اﻟﻨﻘﻮد . ( ﻣﻨﻮهﻴﻦ ان ﻗﻴﻤﺔ اﻟﻨﻘﻮد ﺗﺘﻨﺎﺳﺐ ﻋﻜﺴﻴًﺎ ﻣﻊ اﺳﻌﺎر اﻟﻨﻘﻮد اﻟﺴﻌﺮ هﻮ ﻗﻴﻤﺔ  اﻟﺴﻠﻊ واﻟﺨﺪﻣﺎت ﻣﻌﺒﺮ ﻋﻨﻬﺎ ﺑﺎﻟﻨﻘﺪ

If we recognize that the inflation by itself means the rise of money price on products and services (meaning how much money we need to exchange for a certain amount of products and services. So every time the specified amount of money for exchange increases on the same amount of services or products, then that means that there is an inflation or rise in the money price). Noting that the money value is inversely proportional to the money price, the price is the value of the product or services expressed by cash*

30 (*)ﺗﺸﻴﺮ اﻟﺪراﺳﺎت اﻻﺟﺘﻤﺎﻋﻴﺔ ان ﻣﻌﺪل دﺧﻞ اﻟﻄﺒﻴﺐ اﻟﻌﺮاﻗﻲ اﻟﺸﻬﺮي آﺎن ﻻ ﻳﺴﺎوي آﻘﻮة ﺷﺮاﺋﻴﺔ ﻓﻲ ﺗﺴﻌﻴﻨﻴﺎت اﻟﻘﺮن اﻟﻤﺎﺿﻲ ﺳﻮى ﻟﺸﺮاء  ﻗﻄﻌﺔ ﺧﺒﺰ ﻓﻲ ذﻟﻚ اﻟﺸﻬﺮ وﻋﻠﻰ ﻣﺪى ﺳﻨﻮات اﻟﺤﺼﺎر اﻻﻗﺘﺼﺎدي . آﻤﺎ ان اﻟﻜﺜﻴﺮ ﻣﻦ اﻟﻌﺎﻣﻠﻴﻦ ﻓﻲ اﻟﻤﺆﺳﺴﺎت اﻟﻤﺨﺘﻠﻔﺔ ﻗﺪ اﻗﻠﻌﻮا 20 ﺑﻴﻀﺔ دﺟﺎج و ﻋﻦ اﻟﻌﻤﻞ ﻟﻜﻮن اﻟﻌﺎﺋﺪ اﻟﺸﻬﺮي ﻻﻳﻐﻄﻲ ﺗﻜﺎﻟﻴﻒ اﻟﻨﻘﻞ اﻟﻰ ﻣﻜﺎن اﻟﻌﻤﻞ . وﻻﻧﻨﺴﻰ آﻴﻒ ﺧﻠﻘﺖ اﺳﻮاق ﻣﺸﻮهﺔ ﻓﻲ اﻟﺒﻼد ﺗﻘﺎﻳﺾ ﺑﻬﺎ اﻟﻤﻮاد اﻟﻤﺴﺘﻌﻤﻠﺔ ﻣﻦ اﻻﺛﺎث واﻟﺴﻠﻊ اﻟﻤﻌﻤﺮة واﻟﻤﻼﺑﺲ ﻟﺸﺮاء اﻟﻄﺤﻴﻦ او اﻟﺴﻜﺮ وﺳﺪ اﻟﺤﺪ اﻻدﻧﻰ ﻣﻦ اﺣﺘﻴﺎﺟﺎت اﻻﺳﺮ ﻟﻠﻄﻌﺎم .وان اﻟﻘﻄﺎع اﻟﺰراﻋﻲ ﺑﺤﺪ ذاﺗﻪ آﻘﻄﺎع ﻣﻨﺘﺞ ﻟﻠﻤﻮاد اﻟﻐﺬاﺋﻴﺔ ﻗﺪ ﺗﺪهﻮرت اوﺿﺎﻋﻪ ﻣﻨﺬ ﺳﺒﻌﻴﻨﻴﺎت اﻟﻘﺮن اﻟﻤﺎﺿﻲ ﺑﺴﺒﺐ ﺗﺪهﻮر اﻻرﻳﺎف واﻻﻧﻐﻤﺎس ﺑﺎﻟﺮﻳﻊ اﻟﻨﻔﻄﻲ ﻓﻲ اﻟﻮﻇﺎﺋﻒ اﻟﻌﺎﻣﺔ   .( %ﻓﻲ ﺣﻴﻦ آﺎن ﻣﻌﺪل اﻟﻨﻤﻮ 1.1  ﻋﻠﻰ ﺳﺒﻴﻞ اﻟﻤﺜﺎل ﺑﻠﻎ ﻣﻌﺪل اﻟﻨﻤﻮ اﻟﺴﻨﻮي ﻓﻲ اﻟﻘﻄﺎع اﻟﺰراﻋﻲ) ﺳﺎﻟﺐ 1982-1972 وﻋﺴﻜﺮة اﻟﺒﻼد ﻓﺨﻼل اﻟﻤﺪة  %ﺳﻨﻮﻳًﺎ .ﻣﻊ اﻟﻌﺮض ان ﺟﻤﻴﻊ اﻟﻘﻄﺎﻋﺎت اﻟﺴﻠﻌﻴﺔ ﺷﻬﺪت ﺗﺪهﻮرًا ﻓﻲ اﻟﻨﻤﻮ ﺧﻼل اﻋﻮام 7.1  ﻗﺪ ﺑﻠﻎ 1972-1962 ﻓﻲ ذﻟﻚ اﻟﻘﻄﺎع ﺑﻴﻦ اﻻﻋﻮام اﻟﺘﺴﻌﻴﻨﻴﺎت وﻻﺳﻴﻤﺎ ﻗﻄﺎﻋﻲ اﻟﺰراﻋﺔ واﻟﺼﻨﺎﻋﺔ   .  دوﻻر 750  دوﻻر، ﺑﻌﺪ ان آﺎن ﻻﻳﺘﻌﺪى 5300 اﻣﺎ اﻟﻴﻮم ﻓﻘﺪ ارﺗﻔﻊ ﻣﺘﻮﺳﻂ دﺧﻞ اﻟﻔﺮد اﻟﻌﺮاﻗﻲ اﻟﺴﻨﻮي ﻣﻦ اﻟﻨﺎﺗﺞ اﻟﻤﺤﻠﻲ اﻻﺟﻤﺎﻟﻲ اﻟﻰ ﻣﺎﻳﺰﻳﺪ ﻋﻠﻰ 10000  .و ان ﻣﺘﻮﺳﻂ دﺧﻞ اﻟﻤﻮﻇﻒ اﻟﺤﻜﻮﻣﻲ ﻳﺒﻠﻎ ﻗﺮاﺑﺔ ﺿﻌﻒ ﻣﺘﻮﺳﻂ دﺧﻞ اﻟﻔﺮد ﻣﻦ اﻟﻨﺎﺗﺞ اﻟﻤﺤﻠﻲ اﻻﺟﻤﺎﻟﻲ وﻳﻘﺪر ﺑﺤﻮاﻟﻲ 2003  ﻗﺒﻞ اﻟﻌﺎم دوﻻر ﺳﻨﻮﻳًﺎ

(*) The social studies point that the monthly income rate of the Iraqi doctor was not considered as a purchasing power in the nineties of the last century except to buy 30 eggs or 20 pieces of bread in that month throughout the economic blockade. Many workers in different corporations have quit working because the monthly income was not sufficient for transportation to workplace. We do not forget how distorted markets were created, used goods from furniture, durable goods, and clothes were traded to buy wheat and sugar to secure the minimum requirements of the families for food. The agricultural sector itself as a food-producing sector has deteriorated from the seventies of the last century due to the deterioration of villages, the concentration on oil income in public jobs and the militarization of the country. During the period of 1972-1982 for example, the annual rate of growth in the agricultural sector was (-1.1%). Whereas the growth rate in that sector between 1972-1962 reached 7.1% annually. Noting that, all the commodity sectors deteriorated in growth in the nineties especially the agricultural and industrial sectors.

Today, the average annual income for an Iraqi individual from the gross domestic product is more than 5300 Dollars, when it did not exceed 750 Dollars before the year of 2003. And the average income for government employee reaches about double the average income of individuals from the gross domestic product and is estimated by 10000 Dollars annually.

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وﻟﻤﺎ آﺎﻧﺖ اﻟﻨﻘﻮد هﻲ اي ﺷﻲء ﻳﺘﻔﻖ ﻋﻠﻴﻪ اﻟﻤﺠﺘﻤﻊ ﻟﻴﺼﺒﺢ وﺳﻴﻂ ﻟﻠﺘﺒﺎدل وﻣﺨﺰن ﻟﻠﻘﻴﻤﺔ   ﻓﺎن اﻟﻨﻘﻮد) اﻟﻘﺎﻧﻮﻧﻴﺔ (اﻟﺼﺎدرة ﻋﻦ اﻟﺴﻠﻄﺔ اﻟﻨﻘﺪﻳﺔ ﺑﻤﻮﺟﺐ اﻟﻘﺎﻧﻮن وذات ، ووﺣﺪة ﺣﺴــﺎب Social  ُﻳﻨﻈﺮ اﻟﻴﻬﺎ ﺑﺎﻧﻬﺎ ﻣﺆﺳﺴﺔ اﺟﺘﻤﺎﻋﻴﺔ ، ﻗﻮة اﺑﺮاء ﻟﻠﺬﻣﻢ  ،ﺣﻴﺚ ﺗﺰداد آﻔﺎءة  Institution اﻻﻗﺘﺼﺎد وﻋﻤﻠﻴﺎﺗﻪ ﻓﻲ ﺗﺤﺮﻳﻚ اﻟﺘﺒﺎدل ﺑﻜﻔﺎءة ﺗﻠﻚ اﻟﻤﺆﺳﺴﺔ اﻻﺟﺘﻤﺎﻋﻴﺔ اي اﻟﻨﻘﻮد واﻟﻌﻜﺲ   ﻣﻠﻴﺎر دﻳﻨﺎر ﻓﻲ 23 ﺑﺎﻟﻌﻜﺲ . ﻟﻘﺪ ادى اﻟﺘﻀﺨﻢ اﻟﻤﺴﺘﻤﺮ اﻟﻰ ارﺗﻔﺎع رﻗﻢ اﻟﻌﻤﻠﺔ اﻟﻤﺘﺪاوﻟﺔ ﻣﻦ  وارﺗﻔﺎع اآﺒﺮ ﻓﺌﺔ ﻋﻤﻠﺔ ﻣﻦ ،  ( ﺗﺮﻟﻴﻮن دﻳﻨﺎر ﻓﻲ اﻟﻮﻗﺖ اﻟﺤﺎﺿﺮ 30)  اﻟﻰ ﺣﻮاﻟﻲ 1991 اﻟﻌﺎم  رﺳﻢ اﻟﺘﻀﺨﻢ ارﻗﺎﻣًﺎ ﺟﺪﻳﺪة ﻟﻠﻌﻤﻠﺔ ،  دﻳﻨﺎر ﺑﻤﺮور اﻟﻮﻗﺖ . وﺑﻬﺬا 25000  دﻳﻨﺎر اﻟﻰ 25 اﻟﻤﺘﺪاوﻟﺔ ﺑﺎﺿﺎﻓﺔ ﺛﻼﺛﺔ اﺻﻔﺎر ﻣﻤﺎ زاد ﻣﻦ ﻣﻘﺪار اﻟﻌﻤﻠﻴﺎت اﻟﻨﻘﺪﻳﺔ اﻻﺳﻤﻴﺔ ورﺗﺐ ﺗﻜﺎﻟﻴﻒ اﻧﺘﺎج آﻤﻴﺎت آﺒﻴﺮة ﻣﻨﻬﺎ راﻓﻘﺘﻬﺎ ﻋﻤﻠﻴﺎت ﺧﺰن وﺗﻮزﻳﻊ وﻋـﺪ وﻓـﺮز وﺗﺪﻗﻴﻖ ﻣﺮاﻓﻘﺔ ﻟﻬﺎ Operational وﺑﻤﺴﺘﻮﻳﺎت ﻣﻀﺎﻋﻔﺔ،ﺳﺎﻋﺪت ﻋﻠﻰ ﺗﻌﺎﻇﻢ اﻟﻤﺨﺎﻃﺮ اﻟﺘﺸﻐﻴﻠﻴﺔ اﻟﻤﺼﺎﺣﺒﺔ  Risk

Since money has been approved by the society to be the mediator for trading, holder of value and a unit for calculation, then the (legal) money issued by the monetary authority in accordance to the law having discharge power, is looked at as a social institution since the efficiency of the economy and its operations in the movement of trade is increased by the increase in the efficiency of that social institution meaning money and vice-versa. The continual inflation has lead to the increase in the number of the currency in circulation from 23 billion Dinars in 1991 to about 30 trillion Dinars in the present time and the increase of the largest category of the currency from 25 Dinars to 25000 Dinars as time went by. By this, the inflation drew new numbers on the currency in circulation in addition to three zeros which increased the amount of nominal monetary operations and resulted in big production expenses as well as storage, distribution, counting, sorting and auditing in big levels. This resulted in the increment of the accompanied operational risks.

وﻓﻲ ﻇﻞ اﻻﺳﺘﻘﺮار اﻟﺴﻌﺮي واﻟﺘﻔﺎؤل ﺑﻤﺴﺘﻘﺒﻞ اﻟﻌﺮاق اﻻﻧﻤﺎﺋﻲ ﻓﻘـﺪ ﺑﺎت ﻣﻦ اﻟﻼزم اﺟﺮاء اﺻﻼح ﺟﺬري ﻋﻠﻰ ﻧﻈﺎم ادارة اﻟﻌﻤﻠﺔ وذﻟﻚ ﺑﺎﻋﺎدة هﻴﻜﻠﻴﺘﻬﺎ ﺑﻤﺎ ﻳﺘﻨﺎﺳﺐ وهﻴﻜﻞ اﻻﺳﻌﺎر اﻟﺠﺪﻳﺪ اﻟﻤﺨﺘﻠﻒ واﻟﻤﺴﺘﻘﺮ وﻣﺴﺘﻮﻳﺎت اﻻﺟﻮر واﻟﺮواﺗﺐ اﻟﺘﻲ اﺧﺘﻠﻔﺖ آﺜﻴﺮا ﻋﻦ   ﻓﻀﻼ ﻋﻦ اﻟﺘﻌﺎﻣﻞ ﺑﻜﺘﻠﺔ ﻧﻘﺪﻳﺔ آﺒﻴﺮة ﺿﻌﻴﻔﺔ ﻓﻲ ﻣﻜﻮﻧﺎﺗﻬﺎ ﺑﺤﻴﺚ ، اﻟﺴﻨﻮات اﻟﺜﻼﺛﻴﻦ اﻟﻤﺎﺿﻴﺔ  دوﻻر اﻣﺮﻳﻜﻲ ﻓﻲ اﻟﻮﻗﺖ اﻟﺤﺎﺿﺮ . ﻣﻨﻮهﻴﻦ ان ارﺗﻔﺎع 21 ﺑﺎﺗﺖ اآﺒﺮ ﻓﺌﺔ ﻋﻤﻠﺔ ﻻﺗﺴﺎوي اﻻ  اﻟﻰ اآﺜﺮ ﻣﻦ 2010  ﻣﻠﻴﺎر دوﻻر ﻓﻲ ﻧﻬﺎﻳﺔ اﻟﻌﺎم 140 اﻟﻨﺎﺗﺞ اﻟﻤﺤﻠﻲ اﻻﺟﻤﺎﻟﻲ ﻟﻠﻌﺮاق ﻣﻦ  ﺗﺮﻟﻴﻮن دﻳﻨﺎر 30  ﺳﻴﺮﻓﻊ اﻟﻜﺘﻠﺔ اﻟﻨﻘﺪﻳﺔ اﻟﻤﺼﺪرة ﻣﻦ 2015  ﻣﻠﻴﺎر دوﻻر ﻓﻲ ﻧﻬﺎﻳﺔ ﻋﺎم 300  ﺗﺮﻟﻴﻮن دﻳﻨﺎر . وان اﻟﺘﺮآﻴﺐ اﻟﻀﻌﻴﻒ ﻓﻲ هﻴﻜﻞ اﻟﻌﻤﻠﺔ آﻤﺎ ذآﺮﻧﺎ ﺁﻧﻔًﺎ ﻗـﺪ اﺧﺬ 70 اﻟﻰ ﺣﻮاﻟﻲ ﻳﻀﻴﻒ آﻠﻔﺔ ﺗﺴﻤﻰ آﻠﻔﺔ اﻟﻤﻌﺎﻣﻼت اﻟﻨﻘﺪﻳﺔ ﻣﻦ ﺣﻴﺚ اﻟﺘﺪاول ﺑﻬﺎ ﺳﻮاء ﺑﻴﻦ اﻻﻓﺮاد اﻧﻔﺴﻬﻢ واﻻﻓﺮاد واﻟﻤﺼﺎرف وداﺧﻞ اﻟﺠﻬﺎز اﻟﻤﺼﺮﻓﻲ ﻧﻔﺴﻪ**

Under the price stability and the hope in Iraq’s developmental future, it has been necessary to fix the roots of the monetary management system by restructuring it and making it suitable to the structure of the new different stable prices and the levels of wages and salaries that became very different from the last thirty years which is better than dealing with a big monetary mass which is weak in its components where the largest currency category only equals to 21 US Dollars in the present time. Noting that, the total gross domestic product rose from 140 billion dollars in the end of 2010 to more than 300 billion dollars in the end of 2015, this will raise the exported monetary mass from 30 trillion Dinars to about 70 trillion Dinars. The weak construction of the currency structure as we mentioned earlier has been adding an expense named the operational monetary expense in terms of circulation between individuals themselves or by individuals and banks, and inside the banking system itself.**

اﻟﻤﻌﺎﻣﻼت اﻟﻨﻘﺪﻳﺔ ﻓﻲ اﻟﺴﻮق  ( دوﻻر 100  **اﻣﺴﻰ اﻟﻄﻠﺐ ﻋﻠﻰ اﻟﺪوﻻر اﻻﻣﺮﻳﻜﻲ )وﻻ ﺳﻴﻤﺎ ﻓﺌﺔ اﻟـ اﻟﻤﺤﻠﻴﺔ ﺧﺎرج ارادة اﻟﺴﻴﺎﺳﺔ اﻟﻨﻘﺪﻳﺔ ﻟﻜﻮن ﺗﻠﻚ اﻟﺴﻮق ﺗﺘﻄﻠﻊ ﻓﻲ ﻣﻌﺎﻣﻼﺗﻬﺎ اﻟﻰ ﻓﺌﺎت اآﺒﺮ ﻏﻴﺮ ﻣﺘﻮاﻓﺮة ﺣﺎﻟﻴًﺎ وﻟﻜﻨﻬﺎ ﺗﺘﺠﺴﺪ ﺑﻔﺌﺔ اﻟﻌﻤﻠﺔ اﻻﻣﺮﻳﻜﻴﺔ اﻟﻜﺒﻴﺮة  ﻟﺴﻬﻮﻟﺔ ﺣﻤﻠﻬﺎ  وﺗﺪاوﻟﻬﺎ ﻟﺨﻔﺾ آﻠﻔﺔ اﻟﺘﺪاول اﻟﻨﻘﺪي او اﻟﻤﻌﺎﻣﻼت اﻟﻨﻘﺪﻳﺔ .ﻟﺬا ﻓﺄن  اﻟﻨﻈﺎم اﻟﻨﻘﺪي اﻟﻌﺮاﻗﻲ اﺻﺒﺢ ﺑﺤﺎﺟﺔ ﻣﻠﺤﺔ اﻟﻰ اﺻﻼح اداري ﻟﻨﻈﺎم اﻟﻤﺪﻓﻮﻋﺎت اﻟﻨﻘﺪﻳﺔ ﻟﻴﻜﻮن هﻨﺎك ﻓﺌﺎت ﻧﻘﺪﻳﺔ ﻋﺎﻟﻴﺔ اﻟﻘﻮة اﻟﺸﺮاﺋﻴﺔ ﻓﻲ اﻟﺘﺪاول ﺳﻬﻠﺔ اﻟﺤﻤﻞ واﻟﺤﻴﺎزة ﺑﻤﺎ ﻳﺴﻬﻞ ﻋﻤﻠﻴﺎت اﻟﺘﺒﺎدل اﻟﻨﻘﺪي ﻻﻏﺮاض اﻟﻤﻌﺎﻣﻼت اواﻟﻤﺘﺎﺟﺮة.  ﻣﻨﻮهﻴﻦ ان اﻻﺧﺘﻼل ﻓﻲ هﻴﻜﻞ او ﺗﺮآﻴﺐ اﻟﻮﺣﺪات اﻟﻨﻘﺪﻳﺔ اﻟﺤﺎﻟﻲ ﻗﺪ ﻋﻤﻖ ﻣﻦ ﻣﺸﻜﻼت) اﻟﺪوﻟﺮة (اﻟﺘﻲ رﺗﺒﺖ اﺛﺎرا ﻏﻴﺮ ﻣﺮﻏﻮﺑﺔ ﻋﻠﻰ ﻓﺎﻋﻠﻴﺔ واداء اﻟﺴﻴﺎﺳﺔ اﻟﻨﻘﺪﻳﺔ

** The demand for the US Dollar (Especially the 100 dollar category) became a persistent need to settle the monetary operations in the local market outside of the monetary policy’s desire because that market looks forward in its operations to big categories which are not available right now but it is shown by a big American currency category due to its ease in carrying and circulation to reduce the expense of the monetary circulation or monetary operations. So, the Iraqi monetary system needs a repair in the management system of the cash payments for the existence of money categories having high purchasing power in circulation which is easy to carry and acquire which eases the monetary exchange operations for transactions and trading. Noting that, the disruption in the structure or composition of the current monetary units has deepened the problems (dollarization) which resulted in unwanted effects in the performance and efficiency of monetary policy.

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ﻓﻴﻬﺎ ﺣﺎﻟﻴًﺎ واﺣﺪة ﻣﻦ اﻓﻀﻞ اﻧﻈﻤﺔ ، ﻓﻔﻲ اﻟﺴﻮﻳﺪ ﻋﻠﻰ ﺳﺒﻴﻞ اﻟﻤﺜﺎل  ﻓﺎن آﻠﻔﺔ اﻟﺘﺪاول اﻟﻨﻘﺪي ﻣﻦ ﻋـﺪ ، اﻟﻤﺪﻓﻮﻋﺎت اﻟﻨﻘﺪﻳﺔ  ﻓﻲ اﻟﻌﺎﻟﻢ وﻋﻠﻰ اﻟﺮﻏﻢ ﻣﻦ ذﻟﻚ  %ﻣﻦ اﻟﻨﺎﺗﺞ اﻟﻤﺤﻠﻲ اﻻﺟﻤﺎﻟﻲ 4 وﻓــــﺮز وﻧﻘﻞ وﺧﺰن ﻟﻠﻌﻤﻠﺔ ﺗﻜﻠﻒ اﻻﻗﺘﺼﺎد اﻟﻮﻃﻨﻲ ﻣﺎﻧﺴﺒﺘﻪ ﻟﻠﺴﻮﻳﺪ . ﻓﻜﻴﻒ ﻧﻘﺎرن ذﻟﻚ ﻓﻲ ﺑﻠﺪ ﻣﺜﻞ اﻟﻌﺮاق ﻳﺘﻮﻟﻰ ادارة هﻜﺬا ﻣﻘﺎدﻳﺮ ﻧﻘﺪﻳﺔ هﺎﺋﻠﺔ ﺿﻌﻴﻔﺔ   %او اآﺜﺮ ﻣﻦ اﻟﻨﺎﺗﺞ اﻟﻤﺤﻠﻲ 8  ﻣﻤﺎ ﻳﻀﻴﻒ آﻠﻔﺔ ﻣﻌﺎﻣﻼت ﻧﻘﺪﻳﺔ رﺑﻤﺎ ﺗﺼﻞ اﻟﻰ ، اﻟﺘﺮآﻴﺐ  وهﻮ ﻋﺐء ﻳﺘﺤﻤﻠﻪ اﻟﻔﺮد ﻓﻲ ﺗﻌﺎﻣﻼﺗﻪ ﻣﻤﺎ اﺧﺬ ﻳﻘﻠﻞ ﻣﻦ آﻔﺎءة اﻟﻨﻘﺪ آﻤﺆﺳﺴﺔ ، اﻻﺟﻤﺎﻟﻲ اﺟﺘﻤﺎﻋﻴﺔ ﻣﺆازرة ﻟﻤﺆﺳﺴﺎت اﻻﻗﺘﺼﺎد اﻟﻤﺨﺘﻠﻔﺔ ﺑﻤﺎ ﻓﻴﻬﺎ اﻟﺴﻮق واﻟﺪﻟﻴﻞ ﻋﻠﻰ ذﻟﻚ ﺗﻨﺤﺼﺮ   ﻣﻤﺎ ﻳﻌﻨﻲ اﺣﻼل ﻋﻤﻠﺔ دوﻟﺔ اﺧﺮى ﻓﻲ ، اﻟﻤﻌﺎﻣﻼت اﻟﻨﻘﺪﻳﺔ اﻟﻜﺒﻴﺮة ﻟﻠﺪﻓﻊ ﺑﺎﻟﺪوﻻر اﻻﻣﺮﻳﻜﻲ اﻟﺘﺪاول ﻻﺳﻨﺎد اﻟﻤﻌﺎﻣﻼت اﻟﻨﻘﺪﻳﺔ ﺑﺴﺒﺐ هﺒﻮط آﻔﺎءة وﺗﺮآﻴﺐ اﻟﻜﺘﻠﺔ اﻟﻨﻘﺪﻳﺔ اﻟﺤﺎﻟﻴﺔ

For example, in Sweden which currently has one of the best cash payment systems in the world, in spite of that, the cost of the monetary circulation from counting, sorting, transporting, and storage of the currency costs the national economy 4% from the total gross domestic product of Sweden. So, how can we compare that country to Iraq which manages all these huge amount of cash that is weak in composition, this might add the monetary operation expenses by 8% or more from the total gross domestic production. It is a burden beard by the individual in his dealings. It has been reducing the efficiency of money as a social foundation supported by different economical foundations including the market. The evidence for this is the exclusiveness in big monetary operations to be paid by US Dollars, which means the replacement by a different currency in the circulation of assigning monetary transactions due to the fall in the efficiency and composition of the current monetary mass.

وﻳﺜﻴﺮ ﺗﻌﺪد اﻻﺻﻔﺎر ﻋﻠﻰ ﻓﺌﺎت اﻟﻌﻤﻠﺔ ﻣﻊ اﻧﺨﻔﺎض اﻟﻘﻮة اﻟﺸﺮاﺋﻴﺔ ﻟﻬﺎ ﻣﺼﺎﻋﺐ ﺟﻤﺔ ﻣﻨﻬﺎ ﺻﻌﻮﺑﺔ اﻟﺘﻌﺒﻴﺮ ﻋﻦ اﻟﻘﻴﻤﺔ اﻟﻨﻘﺪﻳﺔ ﻓﻀﻼ ﻋﻦ ﻣﺼﺎﻋﺐ اﻟﻌﻤﻠﻴﺎت اﻟﻨﻘﺪﻳﺔ ﻧﻔﺴﻬﺎ وﻣﺸﻜﻼت ﻓﻨﻴﺔ ﻓﻲ ﺗﺴﺠﻴﻞ اﻟﺒﻴﺎﻧﺎت اﻻﺣﺼﺎﺋﻴﺔ واﻟﺘﺴﺠﻴﻞ ﻓﻲ اﻟﺪﻓﺎﺗﺮ اﻟﻤﺤﺎﺳﺒﻴﺔ وﺗﻐﻴﻴﺮ اﻧﻈﻤﺔ اﻟﺤﺎﺳﺒﺎت وﻧﻈﻢ اﻟﺘﺴﻮﻳﺎت ﻓﻀﻼ ﻋﻦ اﻇﻬﺎر اﻻﺳﻌﺎر ﺑﺎرﻗﺎم ﻃﻮﻳﻠﺔ ﺗﺼﻌﺐ اﺣﻴﺎﻧًﺎ ﺣﺘﻰ اﻟﻌﺪادات او اﻻﺟﻬﺰة اﻟﺮﻗﻤﻴﺔ ﻣﻦ ﻗﺮاءة اﺻﻔﺎرهﺎ ﻓﻲ ﻣﺤﻄﺎت اﻟﻮﻗﻮد او اﻻﺟﻬﺰة اﻟﺮﻗﻤﻴﺔ اﻻﺧﺮى   .   اﺻﺒﺤﺖ ﺣﺎﺟﺔ ﻻﺻﻼح ﻧﻈﺎم اﻟﻤﺪﻓﻮﻋﺎت اﻟﻨﻘﺪي ﻣﻦ ﺧــﻼل ، وﻋﻠﻰ هﺬا اﻻﺳﺎس اﻟﻤﺰاﻳﺎ اﻵﺗﻴـﺔ

Increasing of zeros in the categories of the currency while lowering its purchase power creates many difficulties such as the hardship of expressing the monetary value as well as difficulties in the monetary operations and technical problems in registering statistical data, registering in accounting books, changing computing systems, settlement systems and showing the prices in long numbers which is sometimes hard for meters or digital machines to read their zeros in petrol stations or other digital machines.

On this basis, the need to fix the monetary payment systems through the following characteristics:

اوﻻ  -ﻋﻠﻰ اﻟﻤﺴﺘﻮى اﻻﻓﻘﻲ  :ﺣﺬف اﻻﺻﻔﺎر اﻟﺜﻼﺛﺔ   –   ﻣﻠﻴﺎر دوﻻر ﻋﻦ ﻃﺮﻳﻖ ﺣﺬف ﺛﻼﺛﺔ اﺻﻔﺎر ﻣﻦ اﻟﻌﻤﻠﺔ 30  ﺗﺮﻟﻴﻮن دﻳﻨﺎر اﻟﻰ 30   ﺗﺤﻮﻳﻞ اﻟﺤﺎﻟﻴﺔ واﺳﺘﺒﺪاﻟﻬﺎ ﺑﻌﻤﻠﺔ ﺟﺪﻳﺪة ﻣﻤﺎ ﻳﺴﻬﻞ اﻟﺘﻌﺎﻣﻞ اﻟﺤﺴﺎﺑﻲ ﻣﻊ ارﻗﺎم هﻲ اﻗﻞ ﻋﺪدا   ﻣﻮازﻧﺎت اﻟﺒﻨﻮك واﻟﺸﺮآﺎت ﻓﻀﻼ ﻋﻦ ، ﻋﻠﻰ ﺻﻌﻴﺪ ﺣﺴﺎﺑﺎت اﻟﻤﻮازﻧﺔ اﻻﺗﺤﺎدﻳﺔ ﻣﻮازﻧﺔ اﻻﺳﺮة اﻟﻨﻘﺪﻳﺔ) اﻻﻓﺮاد (دون ان ﻳﺮﺗﺐ اي ﺗﻐﻴﻴﺮ او ﺗﺒﺪل ﻋﻠﻰ اﻟﺪﺧﻞ او اﻟﺜﺮوة اﻟﻨﻘﺪﻳﺔ ﻟﻼﺷﺨﺎص اﻟﻄﺒﻴﻌﻴﺔ واﻟﻤﻌﻨﻮﻳﺔ ﻓﻀﻼ ﻋﻦ ﻋﺪم ﺗﺄﺛﻴﺮﻩ ﻋﻠﻰ اﻟﺘﻌﺎﻗﺪات واﻻﻟﺘﺰاﻣﺎت ﺑﻴﻦ اﻻﺷﺨﺎص اﻟﻄﺒﻴﻌﻴﻴﻦ واﻟﻤﻌﻨﻮﻳﻴﻦ آﺎﻓﺔ .وهﻮ ﻣﺎﻳﻄﻠﻖ ﻋﻠﻴﻪ ﺑﺘﻮﻟﻴﺪ داﻟﺔ Homogenous رﻳﺎﺿﻴﺔ ﻣﺘﺠﺎﻧﺴﺔ ﻣﻦ اﻟﺪرﺟﺔ اﻟﺼﻔﺮ  Function of Degree Zero   ، ﻃﺎﻟﻤﺎ ان آﻤﻴﺔ اﻟﻨﻘﻮد اﻟﺠﺪﻳﺪة اﻻﺻﻐﺮ رﻗﻤﺎ ﺗﻐﻄﻲ ﻓﻲ اﻟﺘﺒﺎدل اﻟﺤﺰﻣﺔ اﻟﺴﻠﻌﻴﺔ ﻧﻔﺴﻬﺎ

Firstly – on the horizontal level: Deleting the three zeros

– Transforming 30 trillion Dinars to 30 billion Dollars by deleting three zeros from the current currency and changing it to a new currency which eases the arithmetic operation with the smaller numbers on the example of the federal budget accounts, banking and corporate accounts as well as cash family accounts (individuals) without resulting in any change or difference on the normal value of income or monetary wealth of people and also without affecting the normal value of contracts and commitments between people. This is called Homogenous Function of Degree Zero. As long as the amount of new smaller numbered money covers the trading of the same amount of products

PAGE 5

David ﻓﻲ اﻟﻨﻘﻮد اﻟﻘﺪﻳﻤﺔ ذات اﻟﺮﻗﻢ اﻻآﺒﺮ .وﺑﻬﺬﻩ اﻟﻤﻨﺎﺳﺒﺔ ﻳﺸﺒﻪ  Hume(1711 – 76) )وهﻮ ﻣﻦ رواد ﻋﻠﻢ اﻻﻗﺘﺼﺎد ﻣﺎ ﻗﺒﻞ اﻟﻤﺪرﺳﺔ اﻟﻜﻼﺳﻴﻜﻴﺔ ﻓﻲ آﺘﺎﺑﻪ اﻟﺸﻬﻴﺮ اﻟﻨﻘﺎش اﻟﺴﻴﺎﺳﻲ Political او اﻟﺠﺪل اﻟﺴﻴﺎﺳﻲ  ( ﺗﺄﺛﻴﺮ ﻣﺴﺘﻮﻳﺎت اﻻﺳﻌﺎر 1752  اﻟﺼﺎدر ﻓﻲ اﻟﻌﺎم  Discourse اﻻﺳﻤﻴﺔ ﻣﻊ اﻻﺗﻔﺎع آﻤﻴﺔ اﻟﻨﻘﻮد ﻣﺜﻞ اﻻﻧﺘﻘﺎل ﻣﻦ اﻻرﻗﺎم اﻟﺮوﻣﺎﻧﻴﺔ اﻟﻰ اﻻرﻗﺎم اﻟﻌﺮﺑﻴﺔ )وهﻲ اﻻرﻗﺎم اﻻﻧﻜﻠﻴﺰﻳﺔ ﺣﺎﻟﻴًﺎ (ﻓﺄن ذﻟﻚ اﻻﻧﺘﻘﺎل ﻻﻳﻐﻴﺮ ﻣﻦ اﻟﻤﺒﺎدئ اﻻﺳﺎﺳﻴﺔ ﻟﻌﻠﻢ اﻟﺤﺴﺎب او اﻟﺮﻳﺎﺿﻴﺎت . ﻓﺄرﺗﻔﺎع آﻤﻴﺎت اﻟﻨﻘﻮد ﻳﺆدي اﻟﻰ ارﺗﻔﺎع اﻻﺳﻌﺎر ﺑﺎﻟﻨﺴﺒﺔ ﻧﻔﺴﻬﺎ دون ﺗﺄﺛﻴﺮ ﻋﻠﻰ ﻧﺘﺎﺋﺞ اﻻﻗﺘﺼﺎد اﻟﺤﻘﻴﻘﻲ

as the old money having bigger numbers. This is similar to David Hume (1711-76)  (who was a pioneer in economical science before the classical school. In his famous book Political Discourse issued in 1752) the effect of nominal price levels with the increase in the amount of cash is like the transfer from Roman numerals to Arabic numerals (which are the English numerals currently) so that transfer does not change the basic foundations of mathematics or accounting. The increase in the number of money leads to the increase in prices without affecting the real economic results.

ﺛﺎﻧﻴﺎ  -ﻋﻠﻰ اﻟﻤﺴﺘﻮى اﻟﻌﻤﻮدي  :اﻋﺎدة هﻴﻜﻠﺔ اﻟﻌﻤﻠﺔ وﺗﺮآﻴﺒﻬﺎ   –   دﻳﻨﺎر ﺗﺸﻜﻞ ﻟﻮﺣﺪهﺎ ) ﺛﻠﺜﻲ آﻤﻴﺔ اﻻوراق 25000   ﻟﻤﺎ آﺎﻧﺖ اﻟﻔﺌﺔ اﻟﻜﺒﻴﺮة اﻟﺒﺎﻟﻐﺔ اﻟﻤﺘﺪاوﻟﺔ ( ﻓﺎن اﺻﺪار ﻓﺌﺎت اآﺒﺮ ﻳﻌﻨﻲ اﺧﺘﺰال اﻻرﺑﻌﺔ ﻣﻠﻴﺎر ورﻗﺔ ﻧﻘﺪﻳﺔ اﻟﻤﺘﺪاوﻟﺔ   ( ﻣﻠﻴﺎر ورﻗﺔ ﻧﻘﺪﻳﺔ . اذ ﺳﺘﺨﺘﺰل اﻟﻔﺌﺎت 1.180 ) ﺣﺎﻟﻴﺎ وﺗﺤﻮﻳﻠﻬﺎ اﻟﻰ ﻋﺪد ﻳﺴﺎوي  %ﻣﻦ اﺟﻤﺎﻟﻲ اﻟﻔﺌﺎت اﻟﺠﺪﻳﺪة اﻟﻤﺼﺪرة اﻟﻰ 90 -%80 اﻟﻜﺒﻴﺮة ﻣﻦ اﻟﻌﻤﻠﺔ ﻗﺮاﺑﺔ  . ( دﻳﻨﺎر ﺟﺪﻳﺪة 200،100 ،50 اﻟﺘﺪاول) ﻣﺜﻞ ﻓﺌﺎت

Secondly- On the vertical level: Restructuring the currency and composing it

-When the largest category 25000 Dinars is equal to (two thirds of the amount of bills in circulation) so releasing a bigger category means the reduction of four billion bills currently in circulation and transfering it to a number to (1.180) billion bills. The bigger bills will reduce the currency by about 80%-90% from the total number of new category issued for circulation (like the categories 50,100, 200 new Dinars).

ﻓﺎن آﻠﻔﺔ اﻟﻤﻌﺎﻣﻼت اﻟﻨﻘﺪﻳﺔ ﺑﻴﻦ اﻻﻓﺮاد واﻟﻤﺼﺎرف وﺑﻴﻦ ،     اﺳﺘﻨﺎدا اﻟﻰ ﻣﺎﺗﻘﺪم اﻻﻓﺮاد اﻧﻔﺴﻬﻢ ﻃﺒﻴﻌﻴﺔ ام ﻣﻌﻨﻮﻳﺔ ﺳﺘﻨﺨﻔﺾ ﺣﺘﻤﺎ ﻣﻦ ﺣﻴﺚ ﺗﻜﺎﻟﻴﻒ اﻟﻌﺪ واﻟﻔﺮز   ان اﻻوراق اﻟﻨﻘﺪﻳﺔ اﻟﻤﺘﺪاوﻟﺔ ﺗﺘﺂآﻞ ﺑﺎﻟﻤﺘﻮﺳﻂ ﺧﻼل ﻣﺪة ، واﻟﺘﺪﻗﻴﻖ. واذا ﻣﺎﻋﻠﻤﻨﺎ ﺧﻤﺲ ﺳﻨﻮات ﻣﻤﺎ ﻳﻌﻨﻲ اﺳﺘﺒﺪال آﺘﻠﺔ هﺎﺋﻠﺔ ﺿﻌﻴﻔﺔ اﻟﺘﺮآﻴﺐ وﺗﺮﺗﺐ ﺗﻜﺎﻟﻴﻒ ﻃﺒﺎﻋﻴﺔ ذات ﻣﻮاﺻﻔﺎت اﻣﻨﻴﺔ ﻋﺎﻟﻴﺔ وهﻮ ﻋﺐء ﺁﺧﺮ ﺗﺘﺤﻤﻠﺔ ﺳﻠﻄﺔ اﻻﺻﺪار اﻟﻨﻘﺪي وهﻮ ﻣﻦ ﻣﺨﻠﻔﺎت ﻧﻈﺎم ادارة ﻧﻘﺪﻳﺔ وﻟﺪهﺎ اﻟﺘﺪهﻮر اﻻﻗﺘﺼﺎدي اﻟﺴﺎﺑﻖ واﺻﺒﺤﺖ ﻻﺗﺘﻨﺎﺳﺐ واﻻﺳﺘﻘﺮار واﻟﺘﻘﺪم اﻻﻗﺘﺼﺎدي اﻟﻤﻨﺸﻮد

Based on what was mentioned, the normal and value of monetary operation costs between individuals and banks and between individuals themselves will definitely decrease in terms of counting, sorting and auditing costs. If we knew that the bills in circulation erode in the duration of five years on average which means exchanging a big amount of weak composed mass. This results in printing costs having high security specifications and that is another burden that the monetary issuing authority bears and is one of the remnants of the monetary management system born from the previous economic deterioration and became unsuitable with stability and the ambitioned economical development.

ان اﺳﺒﺎب ﺗﻐﻴﻴﺮ اﻟﻌﻤﻠﺔ اﻟﺮاهﻨﺔ ﻳﻌﺒﺮ ﻋﻦ ﺛﻤﺮة اﻻﺳﺘﻘﺮار اﻻﻗﺘﺼﺎدي ، ﺧﺘﺎﻣﺎ وﻧﺠﺎح ﺳﻴﺎﺳﺎت اﻟﺒﻨﻚ اﻟﻤﺮآﺰي اﻟﻌﺮاﻗﻲ ﻓﻲ اﻟﺤﻔﺎظ ﻋﻠﻰ اﻻﺳﺘﻘﺮار واﻟﻤﺘﻤﺜﻠﺔ ﺑﺎﺳﺘﻘﺮار ﺳﻌﺮ ﺻﺮف اﻟﺪﻳﻨﺎر اﻟﻌﺮاﻗﻲ وهﺒﻮط اﻟﺘﻀﺨﻢ اﻟﻰ ﻣﺮﺗﺒﺔ ﻋﺸﺮﻳﺔ واﺣﺪة وﺑﻨﺎء اﺣﺘﻴﺎﻃﻴﺎت اﺟﻨﺒﻴﺔ ﻣﺆازرة ﻟﻠﺪﻳﻨﺎر اﻟﻌﺮاﻗﻲ ﺑﻤﺴﺘﻮﻳﺎت ﻟﻢ ﻳﺴﺒﻖ ﺗﺤﻘﻴﻘﻬﺎ ﺧﻼل اﻟﺜﻼﺛﻴﻦ ﻋﺎﻣًﺎ اﻟﻤﺎﺿﻴﺔ واﻟﺘﻲ ﺗﻌﺪ ﻏﻄﺎء اﻟﻌﻤﻠﺔ اﻟﻌﺮاﻗﻴﺔ . اﺿﺎﻓﺔ اﻟﻰ ﺗﺤﺴﻴﻦ ﻧﻈﺎم اﻟﻤﺪﻓﻮﻋﺎت اﻟﻨﻘﺪﻳﺔ وﺟﻌﻠﻪ ﻳﻐﺎدر اﻟﺘﺼﺎﻗﻪ وﺗﺮآﻴﺒﻪ اﻟﺮاهﻨﻴﻦ ﺑﺎﻟﻤﺎﺿﻲ واﺧﺘﻼﻻﺗﻪ اﻻﻗﺘﺼﺎدﻳﺔ واﻋﺎدة ﺑﻨـﺎءﻩ ﻋﻠﻰ ﻣﺴﺘﻘﺒﻞ اﻟﺘﻄﻮر اﻻﻗﺘﺼﺎدي وﻣﻌﻄﻴﺎﺗﻪ اﻟﺤﻘﻴﻘﻴﺔ واﻻﺳﻤﻴﺔ

Finally, the reasons to change the current currency expresses the fruit of economical stability and the success of Central Bank of Iraq’s policies in preserving the stability which is shown by the stability in the exchange rate of the Iraqi Dinar, the fall of inflation to one tenth level, and building foreign equivalent to the Iraqi Dinar in levels never achieved through the last thirty days which is considered as a cover for the Iraqi currency. In addition to improving the system of monetary payments making it leave its current composition and association with the past, its economical disruption and reconstruction on the future of the economical development and its real nominal data.

PAGE: 6

ﻓﻘﺪ أﻋﺪ اﻟﺒﻨﻚ اﻟﻤﺮآﺰي اﻟﻌﺮاﻗﻲ ﺳﺘﺮاﺗﻴﺠﻴﺔ ﺑﻌﻴﺪة اﻻﺟﻞ ﻗﺎﺑﻠﺔ ﻟﻠﺘﻄﺒﻴﻖ ، ﻟﺬا ﻣﺴﺘﻘﺒﻼ ﻋﻨﺪ ﺗﻮاﻓﺮ اﻟﻔﺮﺻﺔ اﻟﻤﻼﺋﻤﺔ وﺑﺼﻮرة ﺗﺪرﻳﺠﻴﺔ وﻓﻖ ﺗﻌﻠﻴﻤﺎت واﺿﺤﺔ وﻟﻮاﺋﺢ ارﺷﺎدﻳﺔ ﺗﻮﻓﺮ اﻟﺤﻤﺎﻳﺔ ﻟﻠﺤﻘﻮق واﻟﻤﺼﺎﻟﺢ اﻟﻤﺨﺘﻠﻔﺔ ﺑﻤﺎ ﻳﺘﻼﺋﻢ وﻣﺮﺣﻠﺔ اﻻزدهﺎر اﻟﻤﻘﺒﻠﺔ واﻟﻨﻤﻮ اﻻﻗﺘﺼﺎدي اﻟﻤﺘﻮﻗﻊ ﺣﻴﺚ ﺳﻴﺰداد ﻣﺘﻮﺳﻂ دﺧﻞ اﻟﻔﺮد ﺧﻼل اﻟﺴﻨﻮات اﻟﻘﺎدﻣﺔ اﻟﻰ أآﺜﺮ ﻣﻦ ﻣﺮة وﺳﻴﺨﻄﻮ اﻻﻗﺘﺼﺎد ﺧﻄﻮات ﻧﺤﻮ اﻟﺘﻘﺪم ﻣﻤﺎ ﻳﺘﻄﻠﺐ اﺻﻼﺣﺎ ﻟﻤﺨﻠﻔﺎت ﻣﺮاﺣﻞ اﻟﺘﻀﺨﻢ ورﺑﻤﺎ ﻳﺘﻄﻠﺐ ﺑﻌﺾ اﻟﺘﺸﺮﻳﻌﺎت ﺑﻬﺬا اﻟﺸﺄن

That is why the Central Bank of Iraq has prepared a long-term strategy which is executable in the future when the suitable chance comes gradually under clear instructions and guidance to secure different rights and benefits suitable with the upcoming flourishing era and the expected economical growth where the average income for individuals will increase in the following years more than once and the economy will move steps forward which requires fixing of the remnants of the inflation stages and might require some constitutions for this matter.

 

[Laid Back 22,269]

To sustain the likely positive impact of the new currency ( lower denomination notes ), it is essential to re-establish

the base purchasing and foreign exchange value of the new currency as it was in the 1970's. 1 dinar = $3.3

Iraqis are still waiting impatiently for the introduction of the New currency  to improve purchasing

power and the foreign exchange value of the IQD.

 

The sensitivity of any anticipated or suggested value of the new currency should be considered carefully and hence

it is advisable that any suggestion in this regard must not be propagated.

 

** extracted from "The future of Iraq project" unclassified document from United States department of states **

 

Go CBI

Go Dinar

Go new monetary policy 

Go $3.3: 1IQD

 

[olivesman 4,573]

I like it!

[Gypsygirl11 3,089]

On ‎8‎/‎21‎/‎2016 at 8:04 AM, krome2ez said:

THIS   IS   AWESOME

I really like this part ...

 

On ‎8‎/‎21‎/‎2016 at 8:04 AM, krome2ez said:

-When the largest category 25000 Dinars is equal to (two thirds of the amount of bills in circulation) so releasing a bigger category means the reduction of four billion bills currently in circulation and transfering it to a number to (1.180) billion bills. The bigger bills will reduce the currency by about 80%-90% from the total number of new category issued for circulation (like the categories 50,100, 200 new Dinars).

Thanks for bringing over Krome - wish this could be posted in the news section.

[ChuckFinley 36,481]

I love the part about "total number of new category issues for circulation" 50-100-200 new dinar.  Means real value. 

[skeetdog 6,485]

Thanks krome...Sounds like a great Game Plan...Until ya put the wood to the laces and put one on the scoreboard...It's still just a great Game Plan...

[SnowGlobe7 28,150]

LACES OUT!!!!!!

[jg1 8,233]

Bump. We know wht needs To be done. Now do it already.

[easy 599]

Just do it!

[GregHi 1,743]

20 minutes ago, easy said:

Just do it!

Truer words have never been spoken!

[SnowGlobe7 28,150]

[ChuckFinley 36,481]

14 hours ago, SnowGlobe7 said:

LACES OUT!!!!!!

That was friging funny. I still have a smile on my face.     I wonder how many got that?

[cws 1,074]

1 hour ago, ChuckFinley said:

That was friging funny. I still have a smile on my face.     I wonder how many got that?

Chuck I got it!  Can you say Ray Finkel

[SnowGlobe7 28,150]

HEE HEE HEEE Love it when others understand how crazy I am!!!!

 

[ChuckFinley 36,481]

18 hours ago, cws said:

Chuck I got it!  Can you say Ray Finkel

 

18 hours ago, SnowGlobe7 said:

HEE HEE HEEE Love it when others understand how crazy I am!!!!

 

This is a great group on people on here. We are going to have one heck of an RV Party.  

[JGN 2]

Firstly – on the horizontal level: Deleting the three zeros

– Transforming 30 trillion Dinars to 30 billion Dollars by deleting three zeros from the current currency and changing it to a new currency which eases the arithmetic operation with the smaller numbers on the example of the federal budget accounts, banking and corporate accounts as well as cash family accounts (individuals) without resulting in any change or difference on the normal value of income or monetary wealth of people and also without affecting the normal value of contracts and commitments between people. This is called Homogenous Function of Degree Zero. As long as the amount of new smaller numbered money covers the trading of the same amount of products

What am I missing here in this article, I'm not a Lopster but this does not sound like the RV we are hoping for.

[ChuckFinley 36,481]

On August 22, 2016 at 2:35 PM, Laid Back said:

To sustain the likely positive impact of the new currency ( lower denomination notes ), it is essential to re-establish

the base purchasing and foreign exchange value of the new currency as it was in the 1970's. 1 dinar = $3.3

Iraqis are still waiting impatiently for the introduction of the New currency  to improve purchasing

power and the foreign exchange value of the IQD.

 

The sensitivity of any anticipated or suggested value of the new currency should be considered carefully and hence

it is advisable that any suggestion in this regard must not be propagated.

 

** extracted from "The future of Iraq project" unclassified document from United States department of states **

 

Go CBI

Go Dinar

Go new monetary policy 

Go $3.3: 1IQD

 

Department of State is better than any Guru out there. 

[DinarThug 71,204]

On August 23, 2016 at 7:45 PM, SnowGlobe7 said:

LACES OUT!!!!!!

 

What do you know about Ray Finkle? 
[Ace sucks in a huge breath of air] 
Ace Ventura: Soccer style kicker graduated from Collier High June 1976, Stetson University honors graduate class of 1980, holds 2 NCAA Division One records, one for most points in a season, one for distance, former nickname "The Mule," the first and only pro-athlete ever to come out of Collier County and one hell of a model American. 
Mr. Finkle: Are you another one of those "Hard Copy" guys? 
Ace Ventura: No sir, I'm just a very big Finkle fan. This is my Graceland.

 

On August 30, 2016 at 11:13 AM, JGN said:

What am I missing here in this article, I'm not a Lopster but this does not sound like the RV we are hoping for.

 

At This Point We're All Just Completely Delirious And Just Want Iraq To Make A Frickin' Decision !

 

We've All Turned Into Ray Finkle ! 

           

 

[Wayfarer 137]

Thanks for the paper. But I was disappointed when Iraq's economic resources were not even mentioned, let alone factored in to the value of the IQD. This is significant if only because we investors have always pointed to Iraq's vast oil reserves, its mineral resources, etc., as more reasons for an eventual RV.  Puzzled.

Edited September 7, 2016 by Wayfarer

[blueskyline 7,903]

On 8/24/2016 at 9:59 AM, SnowGlobe7 said:

Looks like they are about to !!!

[DWS112 3,890]

On 8/30/2016 at 2:13 PM, JGN said:

What am I missing here in this article, I'm not a Lopster but this does not sound like the RV we are hoping for.

 

I agree JGN, and this PDF is posted on the CBI website!

 

On 8/22/2016 at 2:35 PM, Laid Back said:

To sustain the likely positive impact of the new currency ( lower denomination notes ), it is essential to re-establish

the base purchasing and foreign exchange value of the new currency as it was in the 1970's. 1 dinar = $3.3

Iraqis are still waiting impatiently for the introduction of the New currency  to improve purchasing

power and the foreign exchange value of the IQD

 

Sorry, I can't get my mind around this.

If what I think this is saying, the new currency only has to equal the old. ( 1 dinar must buy what a 1000 dinar can )

 

On 8/30/2016 at 2:13 PM, JGN said:

As long as the amount of new smaller numbered money covers the trading of the same amount of products

 

[DWS112 3,890]

On 8/21/2016 at 8:04 AM, krome2ez said:

Deleting the three zeros

– Transforming 30 trillion Dinars to 30 billion Dollars by deleting three zeros from the current currency and changing it to a new currency

 

Now 1 dinar = .00083

delete the zeros = .83 or 1.2 dinars per dollar

add .17 to stop the auctions to make the dinar on par with the dollar, then

30 trillion Dinars to 30 billion Dollars  (1 dinar is equal to 1 dollar )

 

but JMO

 

[stangernan 599]

Ok, so, this seems to be written in 2012.   He says the 0's were added due to inflation, I thought the zeros were added due to the war and Iraq was placed on sanctions by UN and their currency was devalued to what is called the the program rate.  Didnt shabbs keep inflation down to 2%  for years after 2003??  It also seems he is saying take the 3 zeros off the money not the exchange rate, so a 25000 dinar bill becomes $21.00  "

ﺑﻴﻦ اﻻﺷﺨﺎص اﻟﻄﺒﻴﻌﻴﻴﻦ واﻟﻤﻌﻨﻮﻳﻴﻦ آﺎﻓﺔ .وهﻮ ﻣﺎﻳﻄﻠﻖ ﻋﻠﻴﻪ ﺑﺘﻮﻟﻴﺪ داﻟﺔ Homogenous رﻳﺎﺿﻴﺔ ﻣﺘﺠﺎﻧﺴﺔ ﻣﻦ اﻟﺪرﺟﺔ اﻟﺼﻔﺮ  Function of Degree Zero   ، ﻃﺎﻟﻤﺎ ان آﻤﻴﺔ اﻟﻨﻘﻮد اﻟﺠﺪﻳﺪة اﻻﺻﻐﺮ رﻗﻤﺎ ﺗﻐﻄﻲ ﻓﻲ اﻟﺘﺒﺎدل اﻟﺤﺰﻣﺔ اﻟﺴﻠﻌﻴﺔ ﻧﻔﺴﻬﺎ

Firstly – on the horizontal level: Deleting the three zeros

– Transforming 30 trillion Dinars to 30 billion Dollars by deleting three zeros from the current currency and changing it to a new currency which eases the arithmetic operation with the smaller numbers on the example of the federal budget accounts, banking and corporate accounts as well as cash family accounts (individuals) without resulting in any change or difference on the normal value of income or monetary wealth of people and also without affecting the normal value of contracts and commitments between people. This is called Homogenous Function of Degree Zero. As long as the amount of new smaller numbered money covers the trading of the same amount of products"  ... To me it sounds like redenomination of currency NOT exchange rate...  I want $25,000 for my 25,000 Dinar note NOT $21.00 uggg

[DWS112 3,890]

2 hours ago, stangernan said:

To me it sounds like redenomination of currency NOT exchange rate...  I want $25,000 for my 25,000 Dinar note NOT $21.00 uggg

 

This is my desire too. 

 

This PDF has been posted on both the old and new CBI websites. 

2012 Old:  https://www.cbi.iq/documents/mudh_pub5_f.pdf

2017 New: https://cbi.iq/page/37  ( item # 7,  Restructuring of the Iraqi currency  )

 

I guess this has been the CBI's plan for some time.

[stangernan 599]

I know Nuttin Except I got my First  Red Neg today    The Ruby Club