Delete the zeros currency is expected to form a government

[Dinars R us]

Saturday, 24/07/2010 10:49

Baghdad / Iraq's network of correspondents

Adviser said the Iraqi Central Bank the appearance of Mohammed Saleh, said that the bank is serious application of the project to delete three zeros from the national currency in the near future. Saleh explained in a press statement that "It depends at the present time to form the next government and parliament two new Siokman on them, determining the mechanism under which the application of the deletion of zeros from the Iraqi currency.

According to the Iraqi network of correspondents, the deletion of zeros will contribute to reduce the size of inflation and reduce the size of the money supply in the market of 26 trillion Iraqi dinars to approximately 25 billion dinars, indicating that the Kurdish language to be added to the new currency as well as Arabic and English.

http://www.almadapaper.net/news.php?action=view&id=23155

[SexyDinar]

I don't understand this!

They are going to remove 3 zero's from currency as we know to reduce inflation which is currently at 3%? This is a better than US, UK and many other european countries already!

They have 26 trillion Dinar's in circulation so that's 26,000,000,000,000 at the current exchange rate vis ex.com equals USD 22,250,748,823 Billion which is sod all.

We already know that they have that in Gold and cash which is held by the UN under chapter 7.

Can someone explain this to me or am I missing something.

[Doc31]

Thanks for the post

[Dianne]

I don't believe that is want it means. You can also take it as getting rid of the physical paper money it's self. That's just my opinion anyway.

[Traconesu02]

I don't understand this!

They are going to remove 3 zero's from currency as we know to reduce inflation which is currently at 3%? This is a better than US, UK and many other european countries already!

They have 26 trillion Dinar's in circulation so that's 26,000,000,000,000 at the current exchange rate vis ex.com equals USD 22,250,748,823 Billion which is sod all.

We already know that they have that in Gold and cash which is held by the UN under chapter 7.

Can someone explain this to me or am I missing something.

This has been explained many times in many previous posts much better than I can explain it to you.

Bottom line they bring in all larger notes that have 3 zeros by exchanging them with smaller notes.

In our case our larger notes will be exchanged with USD.

Once the larger notes have been recovered they will be destroyed by iraq and/or taken out of circulation thus reducing the amount of currency they have on the market.

Thanks for the post.

[wckdinar]

I don't understand this!

They are going to remove 3 zero's from currency as we know to reduce inflation which is currently at 3%? This is a better than US, UK and many other european countries already!

They have 26 trillion Dinar's in circulation so that's 26,000,000,000,000 at the current exchange rate vis ex.com equals USD 22,250,748,823 Billion which is sod all.

We already know that they have that in Gold and cash which is held by the UN under chapter 7.

Can someone explain this to me or am I missing something.

Since the CBI has continued its tight monetary policy and the 3% inflation number was for April, its reasonable to belive inflation has continued to drop...

[brookie]

If I had all that cash I wouldn't want to give it up ither. I guess we will see how it all goes.They might go broke if they Rv but they might stay broke if they do not.I doubt the world will let them skate like they want ,but stranger things have happend.

[bigd1619]

This is a fantastic post!! Basically it says that once the government is in place, the RV will occur!!! Great find!!

[DaveH]

This has been explained many times in many previous posts much better than I can explain it to you.

Bottom line they bring in all larger notes that have 3 zeros by exchanging them with smaller notes.

In our case our larger notes will be exchanged with USD.

Once the larger notes have been recovered they will be destroyed by iraq and/or taken out of circulation thus reducing the amount of currency they have on the market.

Thanks for the post.

basically that is what they are doing by removing the zero's. I don't know how many people remember but our country had large bills back in the late 60's and 70's as well. If I remember correctly the 500 and 1000 dollar bill were in circulation, The value of the dollar increased and those bills(zeros) were "removed" from circulation.

If I had all that cash I wouldn't want to give it up ither. I guess we will see how it all goes.They might go broke if they Rv but they might stay broke if they do not.I doubt the world will let them skate like they want ,but stranger things have happend.

One thing to understand is that Iraq is not paying for this RV per say. The banks will give us our dollars for dinars, the federal reserve will do the same for the banks and the dinar will be held in in reserve, just like other foreign currencies, by our government for among other things, buying oil from Iraq using the now re-valued dinar. Bottom line is Iraq will profit from an RV, not pay for it.

That is my very simple version of how this will work. There are others here far more qualified than I to explain it.

Hope that helps.

[Chip Chandler]

This is a fantastic post!! Basically it says that once the government is in place, the RV will occur!!! Great find!!

That's right, read between the lines. As far as the lop/no lop thing. CBI has made so may "official" announcements for and denying a lop.

This is also good news as the CBI is actually talking more and more about changes in currency denominations and value adjustment.

Where there is smoke, there is fire.

Chip

[Chip Chandler]

Bottom line is Iraq will profit from an RV, not pay for it.

Yes,No

Dinars that are "cashed in" will work their way through the system and eventually will each Iraq's Central Bank. At that point Iraq will buy them back at the higher RV rate.

Look at it this way. After RV the local bank/dealer will give you the higher amount only because they know they can (and will) receive all they gave you when they pass your Dinars along. Everyone from RV on knows that the CBI will back up the new higher value of Dinars. At RV the currency will not immediately come back to Iraq. Some will float around by being traded back and forth and some will be held by investors. But all Dinars that make their way to the CBI will cause a drain on the bank as it will be paying alot more to buy back the currency that they sold for cheap.

We all know that Iraq can afford an RV. Lets hope all the dominos in place soon so both Iraq and Dinar investors can profit from Iraq's future.

Chip

[Mojo]

Yes,No

Dinars that are "cashed in" will work their way through the system and eventually will each Iraq's Central Bank. At that point Iraq will buy them back at the higher RV rate.

Look at it this way. After RV the local bank/dealer will give you the higher amount only because they know they can (and will) receive all they gave you when they pass your Dinars along. Everyone from RV on knows that the CBI will back up the new higher value of Dinars. At RV the currency will not immediately come back to Iraq. Some will float around by being traded back and forth and some will be held by investors. But all Dinars that make their way to the CBI will cause a drain on the bank as it will be paying alot more to buy back the currency that they sold for cheap.

We all know that Iraq can afford an RV. Lets hope all the dominos in place soon so both Iraq and Dinar investors can profit from Iraq's future.

Chip

That is very true they will pay for these bills/notes as they come back to the CBI , But also remember the higher the Re-Val the more money Iraq will Make , How? They no longer have to import a coke at 3500 dinars , Now that coke is depending on how much the Re- Val is and say its 2.00 will only cost them a 1/2 dinar therefore its cheaper to import and a larger profit on the bottom line, Hope that makes sense

Edited July 24, 2010 by Mojo

[mrref]

This has been explained many times in many previous posts much better than I can explain it to you.

Bottom line they bring in all larger notes that have 3 zeros by exchanging them with smaller notes.

In our case our larger notes will be exchanged with USD.

Once the larger notes have been recovered they will be destroyed by iraq and/or taken out of circulation thus reducing the amount of currency they have on the market.

Thanks for the post.

Yes you are right it has been explain a thousands time, just look under previous forum (post) and it will give all kinds of information