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Adam Montana Weekly 28 August 2019


Adam Montana
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9 minutes ago, Pitcher said:

Yes sir Thugs. The coins is a good thing. Sorry I had to post the dog, again.  It cracks me up.

 

Probably A ‘Retriever’ ! :o 

 

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After It RV’s I Might Invest In Some Kruggerand’s And Get A Golden Retriever ...
 
:D  :D  :D 
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5 hours ago, DinarThug said:

 

We Also Had Articles Discussing The Minting Of Coins This Week ! :twocents: 

 

 

Specialized: minted coins serve internal business transactions

 

 

Monday, August 26, 2019


alsabaah-18057.jpg
 

Emad Emirate Baghdad / Mustafa Al - Hashimi 

 

 

There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.

 
 
Strategic Plan
Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support system' target='_blank' style=">support system" rel="">support the value of the Iraqi dinar in trading 
"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said. Financial support system' target='_blank' style=">support system" rel="">support for the national economy. "
Hassan said that "the coin project, launched in 2004 did not succeed because of the absence of comprehensive economic reforms to support system' target='_blank' style=">support system" rel="">support the financial value of the dinar in the global market," explaining that the coins will be one of the important intermediate currencies that will be used for trading and transactions. 
"Deleting zeros and reintroducing coins has to do with economic reforms because coins, because of their durability, are longer than coins that are quickly damaged," he said. In 2004, "indicating that this requires the dissemination of a culture to educate the public about the economic feasibility of the minted currency." 
 
Delete the zeros
Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa, said: "The process of changing the currency is not limited to deleting zeros, but it can be done by adding a number of zeros or moving the decimal places to the right, as happened in South Africa in 1961, but the situation Prevailing over the past 50 years in most countries is the elimination of zeros because of the hyperinflation witnessed by many countries, which obliges to add zeros to their currencies in those circumstances, and then get rid of zeros at the end 
Al-Ghalbi stressed that "changing the currency does not affect productivity, as well as that this change does not affect the purchasing power of money, because the power comes from the increased demand for money against the money supply, and as long as the purchasing power does not change, the demand for currency and money supply They do not change, because deleting zeros does not entitle monetary institutions and the central bank to print more money and pump it into 
Economy".
Al-Ghalbi added that "the central bank is constrained by the existing cash in the process of replacement, but foreign trade will not be affected as the price of exports will remain the same unchanged, as well as import payments are not affected because foreign exchange is in foreign currency versus domestic, which remains unchanged because The purchasing power of a currency do not change".
 
Multiple benefits
"Changing currency and deleting zeros brings multiple benefits," said Al-Ghalbi. Public".
 He pointed out that "after the change of currency will occur a serious reduction in the volume of transactions with less amount of money, which facilitates all parties to deal with, especially Accountants. "
 
Monetary deception
Al-Ghalbi said that "currency change reduces the phenomenon of monetary deception experienced by people with a large number of zeros that are pushing towards generating inflationary pressures. Of inflation Untamed. "
He added that "currency change leads to greater confidence in local currency and credibility, and when there are a large number of zeros in the local currency people lose their confidence, especially those with transactions in wholesale markets and importers, as they will replace the local currency with stable international currencies such as the dollar or the euro, which deepens The phenomenon of dollarization in the domestic economy, which weakens monetary authority and reduces the effectiveness of policy Cash.
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Thanks Thug this was a great news week with coins and I hope we see more.

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Hi Adam! Thanks for all your updates over the years. I seem to recall one of your post from a while back, a very well made point of why you thought the dinar would revalue at 10 cents. Since it seems to appear that some of us think we are onto something happening with this investment in September (my bday month 😊) , is your thought process still the same? 10 cents? I know you aren't a fortune teller or anything like that lol, not asking for the vilified "rate and date" question. Just was hoping you'd share your thoughts on it still being 10 cents or since you made that post have you come into any new information changing your mind on that. Thanks for any response you share! 

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