Deleting 3 zeros from the currency .. Parliamentary finance is suspended and determines the size of the cost and the economic effects

[3n1]

and heres one from 2015 with some interesting info ,, plenty to read if u research ...... (small coins)

 

A member of the parliamentary economy is expected to work the project raise zeros from the currency early in 2015

Sunday, 22  December 2013 07:30

[Baghdad – where]

Expect a member of the Committee on the economy and investment parliamentary Aziz Sharif Mayahi work project raise zeros from the local currency in early 2015.

It is said that the CBI has been teaching for more than two years, the issue of lifting the zeros from the Iraqi currency, but so far has not taken a firm decision in this regard.

He Mayahi told all of Iraq [where] today that “lifting of the zeroes from the local currency does not have a negative impact on the economic situation in the country, adding that” the lack of work project raise zeros currently is the result of preoccupation with the political blocs preparations for the elections of the House of Representatives in 2014. ”

He added that “the project of lifting the zeros from the currency will be through early 2015.

The Council of Ministers decided in its meeting held on 10 April last patient in the application process to delete the zeros from the national currency until further notice.

The Central Bank of Iraq, and on the lips of bank adviser appearance of Mohammed Saleh, has confirmed for [where] the need for Iraq to the process of administrative reform of the currency cash, and that the project to delete the zeros is the step comes as part of the country’s need to the process of administrative reform of the currency, in order to reduce the cost of cash transactions in the economic process, in addition to the need to provide small groups of coins used in daily circulation of small transactions.

The officials at the central bank, as well as some politicians and economists, urged the government to delete the zeros from the currency, and the issuance of a new currency denominations large cash, in addition to the presence of small coins.

Observers say that the government intends to delete the zeros from the currency as a step towardsimproving the purchasing power of the Iraqi dinar, is that economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the expected benefit from the lifting of zeros. Ended 2.

[screwball]

3 hours ago, Theseus said:

This article is not saying what most people think it is saying. THe article is summed up from this sentence (which was highlighted by the OP:

 

"deleting zeros from the currency does not affect financially and does not get the country out of the crisis, and it is only a psychological aspect."

 

There is that word again I have talked about - "psychological effect". Basically the article is saying that deleting the zeros from the denominations will not affect the exchange rate. Meaning deleting the zeros only from the currency and not the exchange rate.

 

The next sentence to point out is (again highlighting by OP)

 

"He pointed out that "the cost of printing a new currency of different denominations of currency amounts to 60 trillion dinars, and this is difficult for Iraq to bear at the present time, because each denomination or every banknote of the currency requires 6 cents to be issued again."

 

Why 60 trillion dinars if each bill costs 6 cents to print? Because currently there is that amount in physical currency that is outside the banks with the three zeros on it.  This article is talking about deleting the zero from the currency, keeping the exchange rate the same and then printing new currency without the zeros. 

 

The article sums up the negative effect if only the zeros from currency is removed but no other actions are taken like changing the exchange rate (highlighting is mine):

 

"Therefore, in general, it can be said that deleting zeros from the local currency without meaningful and effective economic reforms in all economic sectors will be negative and have no positive impact on the national economy and does not contribute to reducing inflation, although some may delude that prices have decreased and the purchasing power of the currency Accordingly, it can be said that what was mentioned above applies to the Iraqi economy, and this step will have a negative impact if it is not carefully planned and is associated with effective economic measures, revitalizing the national industry and supporting the private sector to advance the national economy.

Yes must accompany exchange rate change 

[rvmydinar]

On 11/22/2020 at 6:52 AM, DWS112 said:

Note: After posting this article, (which seems like a smoke screen to me), I think it is an indication that we are getting close to the deletion of the zeros. - JMO DWS112

 

Deleting 3 zeros from the currency .. Parliamentary finance is suspended and determines the size of the cost and the economic effects

 

11/21/2020

 

Baghdad Today - Baghdad

 

Recently, a proposal to delete 3 zeros from the Iraqi currency has been put forward to provide a cash value in the Iraqi market in order to face the financial crisis, which has abounded proposals aimed at reducing its effects, especially with regard to low oil prices and the lack of liquidity in the state to finance basic salaries and expenditures.

The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, said in an interview with (Baghdad Today), that "deleting zeros from the currency does not affect financially and does not get the country out of the crisis, and it is only a psychological aspect."

He added, "Deleting zeros will affect the government because it will destroy the currency it has and issue a new currency without zeros, and this will be in printing houses outside the country and this will cost the government a lot, and 👉 the current time is not suitable for this procedure."

As for a member of the Finance Committee, Ahmed Hama, he told (Baghdad Today), "Exiting the financial crisis is not only by deleting zeros from the Iraqi currency because the crisis is mainly economic," indicating that "deleting zeros from the Iraqi dinar needs to print a new currency."

He pointed out that "the cost of printing a new currency of different denominations of currency amounts to 60 trillion dinars, and this is difficult for Iraq to bear at the present time, because each denomination or every banknote of the currency requires 6 cents to be issued again."

The Iraqi economist Khalifa Al-Zubaidi says in an article that deleting zeros from the local currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted. For example, deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from Old currency. "

He adds, "The idea of deleting zeros from the local currency began after the First World War. In 1923, Germany deleted 12 zeros from its currency, followed by Hungary in 1946 by deleting 29 zeros from its currency, as well as China in the same year where 8 zeros were deleted, and in the present day several countries have done such things." Step like Zimbabwe, Sudan, Venezuela, Argentina, Brazil, Netherlands,Turkey and other countries, according to the University of North Carolina, that 70 countries have done this procedure since 1960, when 19 countries got rid of zeros once and ten countries twice, and it is considered the most country that got rid of zeros is Brazil, where it took this step six times and got rid of 18 zeros, which means that some countries They succeeded in this step and other countries failed. Therefore, they took this step more than once without success. Iran may be the last country that decided to delete 4 zeros from its currency after the significant decline in the value of the toman against the dollar, although some believe that there will be no positive impact on the Iranian economy because of Economic sanctions imposed on the country. "

Al-Zubaidi asserts that "the aim of this step is to control inflation and high prices and facilitate the process of selling and buying, especially when dealing in millions, which creates many problems for citizens carrying large quantities of currencies, difficulty reading prices, and mathematical errors in reading the large number of zeros, as was the case in Turkey." In addition to the costs of printing it. "

He points out that "the Netherlands succeeded in this work in 1960 because it put in place a strict policy to control prices and liquidity. Turkey also succeeded in this measure, with the testimony of the International Monetary Fund, for taking effective measures to combat inflation and was able to raise the value of the Turkish lira through the economic reforms taken by the government in all fields." It led to economic stability in the country and got rid of printing large numbers of its currency, as well as making it easier for citizens to read numbers and commodity prices. On the other hand, there are many other countries that, when taking such a step, failed to address the economic problem, especially inflation, such as Zimbabwe, Argentina and Brazil, as inflation continued to rise and so. For not taking correct economic measures, which forced these countries to take this step more than once without any positive results, and some of them eventually resorted to abandoning the local currency and using hard currencies in local transactions.

He adds, "Therefore, in general, it can be said that deleting zeros from the local currency without meaningful and effective economic reforms in all economic sectors will be negative and have no positive impact on the national economy and does not contribute to reducing inflation, although some may delude that prices have decreased and the purchasing power of the currency Accordingly, it can be said that what was mentioned above applies to the Iraqi economy, and this step will have a negative impact if it is not carefully planned and is associated with effective economic measures, revitalizing the national industry and supporting the private sector to advance the national economy.
 

 

i don't believe the sama articles that has been written many times.  what for? what is the point writing the same article more than 1 time? do goi and cbi have the purpose ( secret mission ) to scare away the dinar investors? after reading the same articles, the goi and cbi want to test and see how many dinar investors will sell off their dinar, so the cbi can suck all the dinar in before they want to announce the rv suddenly quietly and surprisingly.

[rvmydinar]

On 11/22/2020 at 6:52 AM, DWS112 said:

Note: After posting this article, (which seems like a smoke screen to me), I think it is an indication that we are getting close to the deletion of the zeros. - JMO DWS112

 

Deleting 3 zeros from the currency .. Parliamentary finance is suspended and determines the size of the cost and the economic effects

 

11/21/2020

 

Baghdad Today - Baghdad

 

Recently, a proposal to delete 3 zeros from the Iraqi currency has been put forward to provide a cash value in the Iraqi market in order to face the financial crisis, which has abounded proposals aimed at reducing its effects, especially with regard to low oil prices and the lack of liquidity in the state to finance basic salaries and expenditures.

The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, said in an interview with (Baghdad Today), that "deleting zeros from the currency does not affect financially and does not get the country out of the crisis, and it is only a psychological aspect."

He added, "Deleting zeros will affect the government because it will destroy the currency it has and issue a new currency without zeros, and this will be in printing houses outside the country and this will cost the government a lot, and 👉 the current time is not suitable for this procedure."

As for a member of the Finance Committee, Ahmed Hama, he told (Baghdad Today), "Exiting the financial crisis is not only by deleting zeros from the Iraqi currency because the crisis is mainly economic," indicating that "deleting zeros from the Iraqi dinar needs to print a new currency."

He pointed out that "the cost of printing a new currency of different denominations of currency amounts to 60 trillion dinars, and this is difficult for Iraq to bear at the present time, because each denomination or every banknote of the currency requires 6 cents to be issued again."

The Iraqi economist Khalifa Al-Zubaidi says in an article that deleting zeros from the local currency is the process of replacing the old currency with a new one whose price is less than the old currency by the number of zeros that will be deleted. For example, deleting three zeros from the Iraqi currency means that one dinar from the new currency is equivalent to 1000 dinars from Old currency. "

He adds, "The idea of deleting zeros from the local currency began after the First World War. In 1923, Germany deleted 12 zeros from its currency, followed by Hungary in 1946 by deleting 29 zeros from its currency, as well as China in the same year where 8 zeros were deleted, and in the present day several countries have done such things." Step like Zimbabwe, Sudan, Venezuela, Argentina, Brazil, Netherlands,Turkey and other countries, according to the University of North Carolina, that 70 countries have done this procedure since 1960, when 19 countries got rid of zeros once and ten countries twice, and it is considered the most country that got rid of zeros is Brazil, where it took this step six times and got rid of 18 zeros, which means that some countries They succeeded in this step and other countries failed. Therefore, they took this step more than once without success. Iran may be the last country that decided to delete 4 zeros from its currency after the significant decline in the value of the toman against the dollar, although some believe that there will be no positive impact on the Iranian economy because of Economic sanctions imposed on the country. "

Al-Zubaidi asserts that "the aim of this step is to control inflation and high prices and facilitate the process of selling and buying, especially when dealing in millions, which creates many problems for citizens carrying large quantities of currencies, difficulty reading prices, and mathematical errors in reading the large number of zeros, as was the case in Turkey." In addition to the costs of printing it. "

He points out that "the Netherlands succeeded in this work in 1960 because it put in place a strict policy to control prices and liquidity. Turkey also succeeded in this measure, with the testimony of the International Monetary Fund, for taking effective measures to combat inflation and was able to raise the value of the Turkish lira through the economic reforms taken by the government in all fields." It led to economic stability in the country and got rid of printing large numbers of its currency, as well as making it easier for citizens to read numbers and commodity prices. On the other hand, there are many other countries that, when taking such a step, failed to address the economic problem, especially inflation, such as Zimbabwe, Argentina and Brazil, as inflation continued to rise and so. For not taking correct economic measures, which forced these countries to take this step more than once without any positive results, and some of them eventually resorted to abandoning the local currency and using hard currencies in local transactions.

He adds, "Therefore, in general, it can be said that deleting zeros from the local currency without meaningful and effective economic reforms in all economic sectors will be negative and have no positive impact on the national economy and does not contribute to reducing inflation, although some may delude that prices have decreased and the purchasing power of the currency Accordingly, it can be said that what was mentioned above applies to the Iraqi economy, and this step will have a negative impact if it is not carefully planned and is associated with effective economic measures, revitalizing the national industry and supporting the private sector to advance the national economy.
 

 

the article is about deleting three zeroes. And when someone read this article about deleting 3 zeros, some will guess it is RD and some will guess it is LOP. For me, RD and LOP are considered bad news because it is a neutral event ( gain nothing lose nothing ). And the question is why has iraq or whoever written the same articles ( bad news ) more than 1 time? they must have a secret reason and purpose and the purpose is to scare away the dinar investors ( because it is a bad news ), after that dinar investors will give up and sell off their dinar forever. And finally, the goi and cbi will suck all the dinar ( specially from dinar investors outside iraq ) in before they will announce the rv suddenly quietly and surprisingly. So If everytime the dinar investors read article again about deleting zeroes and they aren't scared, then they will hold it until the end of the ride. Just remember and remainder if there are the same articles about deleting zeroes again in the future ( tomorrow or next week or next month or next year), then it is a sign of rv coming closer and closer suddenly quietly and surprisingly. Again remember don't buy more dinars based on reading the article about deleting zeroes. That's all folks. Come rv closer.

[GreedyDinar07]

RVmydinar I agree with you 100%!! I am trying to get some more!! (Greedy is my name!)