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Central Bank: Deletes zeros still exist


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11th October, 2018
The Central Bank of Iraq, Thursday, October 11, 2018, that the deletion of zeros still exists,indicating that the amount of cash mass in the market is 44 trillion dinars

The director of the issuance and treasuries Agency Abdul Karim Hassan Shannon in an interview followed by the obelisk, "The project to delete the zeros from the Iraqi currency is still standing," noting that "the project was supposed to start in 2014, but the control of the organization of Daed on five provinces led to Delay it. " 

"The project to delete the zeros is to delete three zeros from the current currency with the introduction of large currencies and the introduction of coins for the dinar parts." 

Shannon pointed out that "the cash mass currently circulating in the markets is large at 44 trillion dinars," noting that "

The Central Bank in 2011 put forward a project to delete the zeros for the structure of the currency, which was considered by the bank to transfer Iraq from the country of trillions to billions, that the project met with great opposition by specialists and politicians in parliament

 

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Central Bank: delete the zeros still exists and the monetary bloc amounts to 44 trillion dinars


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11th October, 2018

Said the Iraqi Central Bank on Thursday that the deletion of zeros still exists, indicating that the amount of money supply in the market of 44 trillion dinars. 


The release manager lockers agency Abdul Karim Hassan Shannon in an interview with Alsumaria News that " the project to delete the zeros of the Iraqi currency is still valid , " adding to that " the project was supposed to initiate during 2014, but the control of the organization Daesh five provinces led to Delay it."

"The project to delete the zeros is to delete three zeros from the current currency with the introduction of large currencies and the introduction of coins for the dinar parts." 


Shannon pointed out that "the cash mass currently circulating in the markets is large, amounting to 44 trillion dinars," noting that "Iraq did not use the technological methods of payment, and therefore small groups of currency can be perishable for widespread use." 

The Central Bank in 2011 put forward a project to delete the zeros for the structure of the currency, which was considered by the bank to transfer Iraq from the country of trillions to billions, that the project was met with great opposition by specialists and politicians in parliament.

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Don't like the sound of this:

 

"The project to delete the zeros is to delete three zeros from the current currency with the introduction of large currencies and the introduction of coins for the dinar parts." 

So 25000 becomes 25? That a neutral event or lop. Don't want that!

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Central Bank: delete the zeros still exists and the monetary bloc amounts to 44 trillion dinars

Bertha News Agency170 2018-10-11
5bbf44b958745.jpg 
 
 

The Central Bank of Iraq, on Thursday, that the deletion of zeros is still in place, indicating that the amount of cash mass in the market is 44 trillion dinars.

The director of the issuance and the treasury agency Abdul Karim Hassan Shannon in an interview with a journalist that "the project to delete zeros from the Iraqi currency is still standing," noting that "the project was supposed to start in 2014, but the control of the organization of Daed on five provinces led to delay it "He said.

"The project to delete the zeros is to delete three zeros from the current currency with the introduction of large currencies and the introduction of coins for the dinar parts."

Shannon pointed out that "the cash mass currently circulating in the markets is large, amounting to 44 trillion dinars," noting that "Iraq did not use the technological methods of payment, and therefore small groups of currency can be perishable for widespread use."

The Central Bank in 2011 put forward a project to delete the zeros for the structure of the currency, which was considered by the bank to transfer Iraq from the country of trillions to billions, that the project was met with great opposition by specialists and politicians in parliament.

It is noteworthy that some economists believe that Iraq is not ready at the present time to delete zeros from the Iraqi dinar, pointing out that the deletion needs to be stable security and political as well as stability of the economy.

 
 
Edited by Butifldrm
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Sorry, there is a problem

We could not locate the item you are trying to view.

Error code: 2F173/1

 

I just copy pasted that from your post...  We want to help, but we need more details please. What OS, what browser, versions, etc. How to replicate the problem.

 

I am betting if you tried using Chrome you wouldn't have those issues :)

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Friday, October 12
 
 
 
 

Again, talk about the project to delete zeros from the Iraqi currency, to end the inflation in the amount of cash mass in the market, a project that has been stalled for years, but the central bank says it still exists. 

Director of the issuance and cabinets Agency Abdul Karim Hassan Shanza Alsumaria News The delay of the project to the control of the organization calling on a number of provinces during the year and fourteen, the year that was scheduled to be the process of deleting zeros in it.

 


The project does not depend on the process of deleting zeros only, but a complete structure of the Iraqi currency, which will also include the development of large currencies and also coins for the dinar, especially since Iraq has not used previously and currently technological methods of payment and thus the small categories of currency are perishable to use Widely. 

In the markets are currently dealing with a large monetary block, says the official at the Central Bank it is forty four trillion dinars, which is seen by specialists big inflation of the currency offered in the market, compared to the actual value compared to its cash. 

This step, if implemented, will contribute to strengthening one of the pillars of the Iraqi economy, from the monetary side, as confirmed by specialists. 

You can view the report on the video above.

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Video: delete the zeros is still exist and the mass of cash is 44 trillion dinars

Friday, October 12,

 

https://www.alsumaria.tv/news/249794/بالفيديو-حذف-الاصفار-لايزال-قائما-والكتلة-النقدية/ar?utm_source=KwikPlayer&utm_medium=KwikShare&utm_campaign=KwikMotion

 

Again, talk about the project to delete zeros from the Iraqi currency, to end the inflation in the amount of cash mass in the market, a project that has been stalled for years, but the central bank says it still exists. 

Director of the issuance and cabinets Agency Abdul Karim Hassan Shanza Alsumaria News The delay of the project to the control of the organization calling on a number of provinces during the year and fourteen, the year that was scheduled to be the process of deleting zeros in it.

 

Central Bank: delete the zeros still exists and the monetary bloc amounts to 44 trillion dinars

Central: The cash reserve is close to 60 billion dollars and are reluctant to put the category of 100 thousand



The project does not depend on the process of deleting zeros only, but a complete structure of the Iraqi currency, which will also include the development of large currencies and also coins for the dinar, especially since Iraq has not used previously and currently technological methods of payment and thus the small categories of currency are perishable to use Widely. 

In the markets are currently dealing with a large monetary block, says the official at the Central Bank it is forty four trillion dinars, which is seen by specialists big inflation of the currency offered in the market, compared to the actual value compared to its cash. 

This step, if implemented, will contribute to strengthening one of the pillars of the Iraqi economy, from the monetary side, as confirmed by specialists. 

You can view the report on the video above.

https://www.alsumaria.tv/news/249794/بالفيديو-حذف-الاصفار-لايزال-قائما-والكتلة-النقدية/ar

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"The project to delete the zeros is to delete three zeros from the current currency with the introduction of large currencies and the introduction of coins for the dinar parts." 

 

I'm not understanding how they will do this.  How will they keep the 50,000, 25,000, 10,000 notes and yet, introduce "coins" (like our nickels, dimes, quarters)?

 

It seems the two don't go together.  

 

Can anyone enlighten me please, and thank you.  😊

 

 

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29 minutes ago, Floridian said:

"The project to delete the zeros is to delete three zeros from the current currency with the introduction of large currencies and the introduction of coins for the dinar parts." 

 

I'm not understanding how they will do this.  How will they keep the 50,000, 25,000, 10,000 notes and yet, introduce "coins" (like our nickels, dimes, quarters)?

 

It seems the two don't go together.  

 

Can anyone enlighten me please, and thank you.  😊

 

 

They will trade side by side however the bigger notes which become too valuable for everyday transactions will probably be used for trade between banks. The introduced lower notes will become the norm in everyday transactions. 

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23 minutes ago, Floridian said:

"The project to delete the zeros is to delete three zeros from the current currency with the introduction of large currencies and the introduction of coins for the dinar parts." 

 

I'm not understanding how they will do this.  How will they keep the 50,000, 25,000, 10,000 notes and yet, introduce "coins" (like our nickels, dimes, quarters)?

 

It seems the two don't go together.  

 

Can anyone enlighten me please, and thank you.  😊

 

 

 

we simply do not know all details about the delete zero's project even though cbi has spoke of it for many years now, and it has been a Plan for a very long time maybe from the start...hope for the best prepare for the worst ..

this next segment is not my writing but must be considered it was in a topic about the IQD becoming international i read long ago and its not meant to diminish anyones hope or add anxieties I simply try to look at every possible angle i do not think the cbi will lop but its the timing of the events the cbi has yet to conduct is what we do or will not know by design plan imo.... cheers dv 

 

Iraq’s currency could  become an internationally traded currency after the redenomination process is finished. In other words they redenominate and you miss the trade in period because you are unable to exchange the old denominations for the new denominations. After the trade in period expires and the process is over then the new dinar becomes an internationally traded currency. No one knows for sure that they will redenominate and become an international currency at the same time! Just like no one knows that they will redenominate and dedollarize at the same time. They may choose to dedollarize long after the redenomination process.

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42 minutes ago, dinarbeleiver said:

They will trade side by side however the bigger notes which become too valuable for everyday transactions will probably be used for trade between banks. The introduced lower notes will become the norm in everyday transactions. 

 

Thanks, DinarBeliever.

 

I was always under the impression (by things I have read) that the Iraqis will not have an in-country RV.  They will, however, have more purchasing power.  So if the notes they all have "under the mattress" are worth a lot more, that would make the citizens wealthy and I don't think that will happen.

 

I think it's mind-boggling that there are so, so many Dinar Investors all over the world and none of us seem to be able to figure out what will happen with the Iraqi currency.

 

 

 

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28 minutes ago, 3n1 said:

 

we simply do not know all details about the delete zero's project even though cbi has spoke of it for many years now, and it has been a Plan for a very long time maybe from the start...hope for the best prepare for the worst ..

this next segment is not my writing but must be considered it was in a topic about the IQD becoming international i read long ago and its not meant to diminish anyones hope or add anxieties I simply try to look at every possible angle i do not think the cbi will lop but its the timing of the events the cbi has yet to conduct is what we do or will not know by design plan imo.... cheers dv 

 

Iraq’s currency could  become an internationally traded currency after the redenomination process is finished. In other words they redenominate and you miss the trade in period because you are unable to exchange the old denominations for the new denominations. After the trade in period expires and the process is over then the new dinar becomes an internationally traded currency. No one knows for sure that they will redenominate and become an international currency at the same time! Just like no one knows that they will redenominate and dedollarize at the same time. They may choose to dedollarize long after the redenomination process.

 

Thanks, 3n1, but I don't think it will LOP.  

 

I really think that all those years ago, we were allowed to invest in the Dinar in order to keep the CBI afloat (after the war).

I think we will be rewarded for this (and our extreme patience), by an increase in the price of the dinar.

Actually, I think our reward is coming "soon" (sorry for the use of that word. 😊).

 

I just can't believe that after all the reading we do, and with so many smart people invested, no one has figured out how this revalue of the Dinar will be accomplished.  

 

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6 minutes ago, Floridian said:

 

Thanks, DinarBeliever.

 

I was always under the impression (by things I have read) that the Iraqis will not have an in-country RV.  They will, however, have more purchasing power.  So if the notes they all have "under the mattress" are worth a lot more, that would make the citizens wealthy and I don't think that will happen.

 

I think it's mind-boggling that there are so, so many Dinar Investors all over the world and none of us seem to be able to figure out what will happen with the Iraqi currency.

 

 

 

I think the cbi has been ready to do this for a long time - politics has got in the way. The time is getting right now, I haven’t seen this much activity since 2013 when Iraq came out of sanctions

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2 minutes ago, Floridian said:

 

Thanks, 3n1, but I don't think it will LOP.  

 

I really think that all those years ago, we were allowed to invest in the Dinar in order to keep the CBI afloat (after the war).

I think we will be rewarded for this (and our extreme patience), by an increase in the price of the dinar.

Actually, I think our reward is coming "soon" (sorry for the use of that word. 😊).

 

I just can't believe that after all the reading we do, and with so many smart people invested, no one has figured out how this revalue of the Dinar will be accomplished.  

 

 

agree ... go cbi.

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1 minute ago, dinarbeleiver said:

I think the cbi has been ready to do this for a long time - politics has got in the way. The time is getting right now, I haven’t seen this much activity since 2013 when Iraq came out of sanctions

 

I agree with you there.  Politics and ISIS got in the way.

It's gonna happen.  😊

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Cant be long now that they have stability

They will delete the zeroes sometime in the near future.  

The dinar will be equal to the dollar.  

 

Can Iraq’s New Leaders Deliver Stability After Months of Deadlock?

avatarby Reuters and Algemeiner Staff

 
IRAQ.jpg

Barham Salih, Iraq’s newly elected President stands during a handover ceremony at Salam Palace in Baghdad, Iraq October 3, 2018. Photo: REUTERS/Thaier Al-Sudani.

The election of a respected Kurdish politician as Iraq’s new president and his designation of a compromise figure as premier gives the country a fighting chance of achieving stability after years of sectarian bloodshed, war, and economic turmoil.

President Barham Salih, 58, who was elected by parliament, is respected by both the United States and Iran, arch-rivals whose competition for influence in Iraq has fueled factionalism in a country already dogged by deep sectarian rifts.

The US embassy in Baghdad and Iranian President Hassan Rouhani both congratulated Salih on Wednesday, raising hopes he might be able to energize the traditionally ceremonial role of president and engage Tehran and Washington to Iraq’s benefit.

“President Barham Salih has a strong personality and he’s well respected by the West and regional countries and most importantly Iran,” said senior lawmaker Rebwar Taha from the Patriotic Union of Kurdistan, the party that nominated him.

syrian-refugees-300x180.jpg
 
OCTOBER 12, 2018 10:37 AM
0

Plight of Stranded Syrians Worsens as Food Blocked

Thousands of Syrians stranded on Jordan's border with Syria are running out of food as routes leading to their camp...

Salih’s choice of Adel Abdul Mahdi, 76, as prime minister defuses months of tension between Iraq’s two main Shi’ite blocs who hold the most seats in parliament and possess the most powerful militias.

His premiership marks the end of 15 years of rule by the Dawa Party, which has dominated Iraqi politics since the toppling of Saddam Hussein in a US-led invasion in 2003.

Lawmakers said that was precisely what made Abdul Mahdi an attractive option, especially to powerful cleric Moqtada al-Sadr, who despises Dawa.

Sadr, alongside outgoing Prime Minister Haider al-Abadi, leads one of the two main Shi’ite blocs. The other is led by Iran-backed militia leader Hadi al-Amiri and former premier Nuri al-Maliki.

Amiri and Maliki are Iran’s two most prominent allies in Iraq. Abadi was seen as the preferred candidate of the United States, while Sadr portrays himself as a nationalist who rejects both US and Iranian influence.

PROTESTS

Iraq now has its three top leaders — a president, prime minister, and speaker of parliament — and is edging closer to forming a new government five months after an inconclusive parliamentary election that was marred by historically low turnout and widespread fraud allegations.

The latest appointments come weeks after protests in the oil-rich city of Basra, the jewel of Iraq’s southern Shi’ite heartland, threatened to destabilize the country.

The government’s inability to handle those protests and provide residents with the basic services they were demanding convinced Sadr to abandon Prime Minister Abadi, his ally.

“After the unrest in Basra, Sayed Moqtada was convinced that a prime minister who failed to bring clean water to his people will definitely fail at bringing stability to his country,” said one source close to Sadr.

“That was enough for Sayed Moqtada to sit with Amiri and accept a compromise candidate, Abdul Mahdi.”

Salih’s election is the first time someone has risen to one of Iraq’s top posts without a backroom deal — an outcome that may suggest lawmakers are making the country’s dire needs a priority over political gains.

Since Saddam’s fall, power in Iraq has been shared among its three largest ethnic-sectarian components.

The most powerful post, that of prime minister, has always been held by a Shi’ite Arab, the speaker of parliament by a Sunni Arab and the presidency by a Kurd, though that formula has not guaranteed stability.

“TRUE POLITICS”

Both Washington and Tehran had been vying for months to influence the shape of the incoming government, but neither can claim to be the deciding factor in the presidential outcome.

“The outcome was not predetermined. Despite US and Iranian intervention, everyone was on the phones,” said Bilal Wahab, a fellow at Washington Institute for Near East Policy who is currently in Baghdad. “It was a unique political process, true politics. But this was an outlier event.”

Salih designated Abdul Mahdi prime minister less than two hours after being named president. Abdul Mahdi arrived at parliament even before the presidential election was finished, knowing he was already a shoo-in.

Abdel Mahdi had the right political pedigree: he is an Islamist but doesn’t belong to the Dawa Party and is perceived as a technocrat with a decent track record in government.

Getting the approval of Sadr, the cleric who has mass appeal to the poor working class who have grown impatient with the political elite dominated by Dawa, was key.

The other big test Abdel Mahdi passed was gaining the blessing of Iraq’s top cleric Grand Ayatollah Ali al-Sistani.

Arguably the most powerful man in the country, Sistani has long urged politicians to stop clinging to power and give a new breed of technocrats a chance to rebuild Iraq.

https://www.algemeiner.com/2018/10/04/can-iraqs-new-leaders-deliver-stability-after-months-of-deadlock/

 

Edited by SocalDinar
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Could the statement of "large currencies" possibly mean a large amount of small denominations and coins? Remember they say alot of things that are backwards to us but understandable to the iraqi's. Makes no sense to talk about large denominations and coins in the same sentence, so that is why my pea brain came up with. lol  ;)

 

Lets not forget in all of this that shabbs already told us about the small denominations that will come out and all the markings on them of the iraqi heritage and the coins. I dont believe that plan has changed. If they were just going to redenominate they could have done that a long time ago and there wouldnt be such a big fuss about it creating instability and why would they worry about security. 

 

 

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Guys, they just spent 76 million dollars to print three zero notes.  IMO, what we are seeing in the deletion of the zero articles is propaganda.    The 44 Trillion to 44 Billion articles describes a neutral event.  We would make nothing! Plus I don't believe they have 44T in circulation at this time.  If you read, know, the history, most of the money/currency  is held within the State owned Banks

 http://documents.worldbank.org/curated/en/494451531335490760/pdf/P155962-Iraq-DPF-ICR-main-report-post-review-approved-version-26June2018-06272018.pdf and could be destroyed at anytime  to bring the note count down.  Think about this, Why would the CBI HAVE TO PRINT MORE CURRENCY IF THEY HAD 44 TRILLION IN CIRCULATION?  The only reason they would have to print is, either because there is no money in circulation or the people are afraid to spend it? That's called deflation.  This also could depend on the CBI having not a clue of who holds the currency in or out of the country.  The CBI, is and has been  promoting the inclusionary economy to bring the three zero notes into the banks. The CBI is trying to develop/educate the private banks, which in turn can develop the private economy and jobs for their citizens.  One of the largest problems I see is that Iraq is trying to build their banking stucture under Islamic Law.   In Most Fiat currency systems, for every dollar a bank takes in, they can lend 10. This is not allowed under Sharia Law.  In other words you can't walk both sides of the fence.  To succeed you have to be all in on one or the other.  If you study what is going on around the World our present system is failling within emerging economies. Look at most oil producing nations, Venezuela, Brazil, Saudi Arabia, .... More or less due to oil prices subject to the demand for oil.  The Petro dollar has been devalued significantly since it's inception in the 70's in purchasing power in the US, but what keeps it alive is  the demand in emerging economies.  We are now seeing in many counties of the world is a breaking away from the petrodollar.  What's not surprising is the IMF is being shown as the globalists.  The IMF has showed no grievance toward oil producing countries ditching their dependence on the dollar.  We are seeing Grievences between the US and the WTO!     What we have to understand since 2003  Iraq, has chosen/been forced to go along with the Fiat currency system run by the IMF and the World Bank.  The currency IQD is backed by nothing. Unless there is some kind of reset and this has to be a Global  Event,  Iraq has to play their game. They have chosen to be under IMF article XIV which allows them IMF debt protection. Iraq like most emerging economies under this system has taken advantage of undervalued currencies, more than likey because of corruption, and the ability to make a profit from sale of the dollar auction.  More so for Iraq because of not having an internationally traded currency and enjoying the protection from international debt. This has caused  a delay in infrastucture, employment, and all things/tools to promote the economy subsequently decreasing the value of their currency.  Maybe this new government will have a plan to develop the economy, put people to work, utilize resources, control corruption, move to an internationally traded currency and increase the value of the Dinar!

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Just got power back. Great read here and thanks to everyone for posting. Great post there Butifdrm. Reading this I get the impression that most of the dinar held, big notes, are out of country. In country the larger notes have been sucked up by the CBI in some fashion, selling of gold, exchange of currency, and opening of accounts. People are holding dinar, but my guess they are the smaller note. They were worthless and were just keep at home in the matters. Larger notes were traded for the USD which is the main traded currency. The notes I feel they are talking about are the smaller notes. They are looking to increase the value and will need those notes and coins to do it. My feelings is that you cannot trust what is being printed in the news, much like here. You have to see what is going on and what signs that things are moving in that direction. Things have been very positive and by that I mean actual out comes. Things that we can see physically. Laws passed, money printed, new Gov working the HCL etc. A big one for me is Adam. When he starts emailing and post in VIP - (WARNING SALES PITCH-If you do not have VIP GET IT) - I take note that things are moving and moving fast , for Iraq, in our direction. I feel strongly that this is looking to be an RV at close to equal value to the USD - no loop. It is just up to them when.  :twocents: 

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12 hours ago, mylilpony said:

Could the statement of "large currencies" possibly mean a large amount of small denominations and coins? Remember they say alot of things that are backwards to us but understandable to the iraqi's. Makes no sense to talk about large denominations and coins in the same sentence, so that is why my pea brain came up with. lol  ;)

 

Absolutely! Anything is certainly possible when we’re talking about the convoluted translations of these articles. They have a totally different way of saying and phrasing things than we do 👍🏻

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