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Iraqi Central Bank confirms its intention to delete the three zeroes from the currency

sunshinelvr

By sunshinelvr,
in LOPster tank

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sunshinelvr Newbie

sunshinelvr

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Posted (edited)

Iraqi Central Bank confirms its intention to delete the three zeroes from the currency

22.07.2010

22.07.2010

غسان علي

Ghassan Ali

The Central Bank of Iraq that he was serious in the application of deleting three zeros from the national currency in the near future. Bank adviser said the appearance of Mohammed Saleh, said that it depends at the present time to form the next Iraqi government and parliament two new Siokman on them, determining the mechanism under which the application of the deletion of zeros from the Iraqi currency.

The question being debated extensively about the success of this step in improving the Iraqi economy, says Chancellor valid in an interview with Radio Free Iraq that the deletion of zeros will contribute to reduce the size of inflation and reduce the size of the money supply in the Iraqi market of 26 trillion dinars to approximately 25 billion dinars, indicating that the Kurdish language to be added to the new currency as well as Arabic and English.

The consultant said that for the large number of money circulating in the Iraqi market has led to a confusion in large commercial transactions, the work of banks, noting that deleting three zeros from the Iraqi dinar will to reform the management system of the national currency and thus improve and revitalize the Iraqi economy.

However, the economic expert, Salim al-Jubouri varies with the central bank adviser believes that the deletion of zeros from the Iraqi currency will not necessarily lead to improved national economy, but on the contrary may cause additional confusion in the local market, calling at the same time the Iraqi government to go to support market stability and the national currency allowance and replace it with a new value of another currency.

Edited by sunshinelvr
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Traconesu02 Newbie

Traconesu02

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Iraqi Central Bank confirms its intention to delete the three zeroes from the currency

However, the economic expert, Salim al-Jubouri varies with the central bank adviser believes that the deletion of zeros from the Iraqi currency will not necessarily lead to improved national economy, but on the contrary may cause additional confusion in the local market, calling at the same time the Iraqi government to go to support market stability and the national currency allowance and replace it with a new value of another currency.

This is probably the most important part of this particular article.

The rest of the article :

I have lost count of how many times I have seen similiar news articles.

Thanks for the post sunshinelvr

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hablrob Newbie

hablrob

Posted
Posted

22.07.2010

Iraqi Central Bank confirms its intention to delete the three zeroes from the currency

Ghassan Ali

The Central Bank of Iraq that he was serious in the application of deleting three zeros from the national currency in the near future. Bank adviser said the appearance of Mohammed Saleh, said that it depends at the present time to form the next Iraqi government and parliament two new Siokman on them, determining the mechanism under which the application of the deletion of zeros from the Iraqi currency.

The question being debated extensively about the success of this step in improving the Iraqi economy, says Chancellor valid in an interview with Radio Free Iraq that the deletion of zeros will contribute to reduce the size of inflation and reduce the size of the money supply in the Iraqi market of 26 trillion dinars to approximately 25 billion dinars, indicating that the Kurdish language to be added to the new currency as well as Arabic and English.

The consultant said that for the large number of money circulating in the Iraqi market has led to a confusion in large commercial transactions, the work of banks, noting that deleting three zeros from the Iraqi dinar will to reform the management system of the national currency and thus improve and revitalize the Iraqi economy.

However, the economic expert, Salim al-Jubouri varies with the central bank adviser believes that the deletion of zeros from the Iraqi currency will not necessarily lead to improved national economy, but on the contrary may cause additional confusion in the local market, calling at the same time the Iraqi government to go to support market stability and the national currency allowance and replace it with a new value of another currency.

http://www.iraqhurr.org/content/article/2107013.html

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MoraMora Newbie

MoraMora

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Posted

So is this another LOP article coming from Iraq?...... I'm beginning to wonder whether the deletion of the zeros is indeed a fact and they are planning on removing the 3 zeros from their currency. So does that mean that my 10,000 note after deletion will be 10? Am I reading this right? :blink:

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Matt Newbie

Matt

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Same OLD crap, different day... All they are saying is the notes with the "000's" will be taken out of circulation after the RV happens.

So is this another LOP article coming from Iraq?...... I'm beginning to wonder whether the deletion of the zeros is indeed a fact and they are planning on removing the 3 zeros from their currency. So does that mean that my 10,000 note after deletion will be 10? Am I reading this right? :blink:

No, Your 10,000 note will be worth what ever the RV is. Example: if they RV at $1.00 to 1 dinar, it will be worth $10,000.00. By them saying removing the 000's, they are saying after RV they will be taken out of circulation, hence removing the 000's.

Hope this helps!

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mrref Newbie

mrref

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Posted

So is this another LOP article coming from Iraq?...... I'm beginning to wonder whether the deletion of the zeros is indeed a fact and they are planning on removing the 3 zeros from their currency. So does that mean that my 10,000 note after deletion will be 10? Am I reading this right? :blink:

You must be new to all of this talk of the zero's being removed, I don't have the time to explain this to you, so go back to previous fourms on the zeros and it will go into detail about the removal of the zeros............... :D

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MoraMora Newbie

MoraMora

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Posted

You must be new to all of this talk of the zero's being removed, I don't have the time to explain this to you, so go back to previous fourms on the zeros and it will go into detail about the removal of the zeros............... :D

Excuse me...No I'm not new to all this....and you're rude...why do you bother answering if you don't have time to explain anything ......but you sure have time to be rude! ........I just read that article and it does bring to question whether they are actually referring to post-RV ,.....or we just want to believe they are referring to post RV.... but don't bother ...i'm not asking you to answer anything!

Same OLD crap, different day... All they are saying is the notes with the "000's" will be taken out of circulation after the RV happens.

No, Your 10,000 note will be worth what ever the RV is. Example: if they RV at $1.00 to 1 dinar, it will be worth $10,000.00. By them saying removing the 000's, they are saying after RV they will be taken out of circulation, hence removing the 000's.

Hope this helps!

Thanks so much! ...We need more people like you on this site .......That helped! :)

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EBJNYC Newbie

EBJNYC

Posted
Posted (edited)

Besides the author is GHASSAN ALI not the CBI -- see below link -- go figure !!!

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.iraqhurr.org/content/article/2107013.html&ei=U01ITN7kFdCJnQeQxrjiDQ&sa=X&oi=translate&ct=result&resnum=1&ved=0CDMQ7gEwAA&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%26hl%3Den%26client%3Dfirefox-a%26sa%3DX%26tbo%3D1%26rls%3Dorg.mozilla:en-US:official%26tbs%3Dqdr:d

Edited by EBJNYC
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Maynard57 Newbie

Maynard57

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Excuse me...No I'm not new to all this....and you're rude...why do you bother answering if you don't have time to explain anything ......but you sure have time to be rude! ........I just read that article and it does bring to question whether they are actually referring to post-RV ,.....or we just want to believe they are referring to post RV.... but don't bother ...i'm not asking you to answer anything!

MoraMora:

I don't think Mref intended to be rude, she just pointed you to the place we've aloted for the "LOP talk." The subject seems to stir up alot of fencing and pissing matches, probably because of people's fears of getting totally piped in this investment by the Iraqis.

I think it would help to look at it this way: The translations of what people say in 'Arabish' doesn't always come out the way they intend when it is morph'd into English. Removing or lifting zeros for the 3 zero denoms tends to mean that they are removing these huge bills from circulation. And that is exactly what they've done, at least within Iraq's borders. If you search long enough you will see statements from various officials to the effect that, for a time, there will be both the very large bills and the smaller denoms. Its a process.

I agree with the previous posters, I think we're good. :)

Maynard

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

The following statement makes so sense whatsoever so to me this whole article was just printed to keep speculation down......they said they want to reduce the number in circulation to 25 billion dinar?? are you kidding me?? you do realize that Iraq has a population of 31 million or so?? that means that they want to take away money so that even just the people in the country will only have an average of less then 1000 dinar each......hahaha now please someone....im no math wizard or economical analyst but please tell me how that would make any sense......

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Uncle Mike Newbie

Uncle Mike

Posted
Posted

MoraMora, mrref was not being rude..... When you've been in this for 6 - 7 yrs and have heard the same L O P story time and time again it really gets old...

The ones that have been here a long time have come to terms with the L O P and know it would be suicide for Iraq to L O P...We believe it will not L O P. Every newbie is trying to make sure they made the right decision on this investment.. And yes, I don't care who you are there is always the L O P question nagging on you in the back of your mind.... But you don't want it brought up every other day... Why do you think we call it Bunny-Ear, if you even mention it in the chat room you would get dusted... mrref like all the old timers are just plain tired......

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Bull Dog Newbie

Bull Dog

Posted
Posted

Not one person point out that they plan to issue "NEW" currency w/ Arabic and Kurdish writing. Does this mean we will have to trade our 25000 bill for a new 25 bill w/ new writings.

The new currency is sitting vaults right now waiting for the RV. This been going on for a long long time. I have read this on this site numerous times. Iraq in conjunction with the US plan to get rid of the 25,000. notes after the RV. Iraqi media spins these articles just as our press does. Someone else is pulling the triggers with the media. Bash away people I don't care, getting really fed up with these gurus and dates that just keep passing by.

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steveandmarlo Newbie

steveandmarlo

Posted
Posted

Excuse me...No I'm not new to all this....and you're rude...why do you bother answering if you don't have time to explain anything ......but you sure have time to be rude! ........I just read that article and it does bring to question whether they are actually referring to post-RV ,.....or we just want to believe they are referring to post RV.... but don't bother ...i'm not asking you to answer anything!

Thanks so much! ...We need more people like you on this site .......That helped! :)

Matt, thanks for the reply. I am relatively new (for whomever posted that to the MoraMora-I think) and even going through previous chats, it gets difficult to follow who/what/when/where. :) So, again, thanks!

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