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Expert: Canceling 3 zeros from the currency will lead to the collapse of the process ... Iraq needs a `` rescue plan ''


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Here we go again with the delete of the 000 articles.... The only difference is that we are in 2021            

DAMN, you guys have given me a headache!!!

Ok bro I can’t hold it anymore! SOOO many questions ALLLL THE TIME!!! I got no problem with questions, but not the same question that you will never get an answer to! Nobody can answer half of the que

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9 hours ago, mally2 said:

Spend some time reading about what a redenomination is. I don’t want to be banished to the lopster tank. Most the time when countries go through a redenomination they try to do it after hyperinflation but when things have normalized. This economist is saying a redenomination won’t fix our current problems and doing so now while things are bad with a large deficit could be extra bad. 

They don’t have problems you think they do what they have is two sets of books a program rate and low inflation they need to remive zeros from exchange rate adjust rate introduce lower denims and large notes will be used for bank transfers and sit in central banks large notes will never make it back

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8 hours ago, NMP2017 said:

Iraq needs a "Rescue Plan" that's better than the "Get Well Plan" the CBI has been helping Warka Bank with for the last...how many years now? 🤣

Yep but warka is made up of 90% foreign money and investors bank run caused collapse when ministry of interior withdrew 500 million, owners went to Lebanon and investors said she will be right mate! How’s that working out for everyone that put eggs into one basket 

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8 hours ago, rvmydinar said:

Carrello : thanks for giving me " downvote " and i am really appreciated.

 

Md11fr8dawg: i apologize if i give you a headache.

 

"canceling 3 zeros means deleting 3 zeros also means increasing the rate"

 

What you stated is incorrect and that's why I gave you a ruby. Redenomination (removing zeros) does not automatically ensure an increase in the rate.

 

"Redenomination is the process of changing the face value of banknotes coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation.

 

Redenomination itself is considered symbolic as it does not have any impact on a country’s exchange rate in relation to other currencies. It may, however, have a psychological impact on the population by suggesting that a period of hyperinflation is over, and is not a reminder of how much inflation has impacted them. The reduction in the number of zeros also improves the image of the country abroad."

 

https://en.wikipedia.org/wiki/Redenomination

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Economist: Deleting zeros from the Iraqi dinar leads to the collapse of the Iraqi economy

Friday 05, February 2021 15:45 | Economical Views: 714

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Baquba ( NINA ) Economic specialist Jamal Shaker ruled out dropping zeros from the Iraqi currency because it leads to the collapse of the country's economy and the Iraqi dinar.

He told the correspondent of the Iraqi National News Agency ( NINA ) today that removing the zeros from the Iraqi currency needs a strong economy and a hard currency in order to be able to re-evaluate the price of the dinar, and this is unlikely in light of a collapsed economy, but the only treatment to gradually strengthen the exchange rate of the Iraqi dinar is to develop an economic plan and exploit Natural resources, activation of investment, control of ports, development of oil fields, and completion of the large FAO project.

He added that floating the currency does not serve the Iraqi economy and causes great harm to the market
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13 hours ago, rvmydinar said:

It has already been almost 18 years and they have still talked and talked and talked about deleting 3 zeros and never implemented it until now. Nothing new it is the way of life for iraqi government to delay and delay and delay. Whenever iraq government wants to do something like deleting 3 zeros, the word " delay " always comes to their minds.

Well, you are not quite correct on the presumption that they have done nothing about it. In 2012 or so, Shabibi did do something about it. Then Malarkey stepped in and reverted it back. Shabibi fled the country and works in London now. 

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Look at the bigger picture. Once you see the high level overview, you will feel better about it not happening yesterday or today or tomorrow. Iraq will thrive. There is no doubt about that. If you seriously doubt that one piece of information, then the question becomes, why do you still hold. If you understand what you’re invested in, then the headaches will be alleviated as time goes on. For all of us that have been here for years, we know just how bad Iraq spouts their nonsense. They can give our career politicians a run for their money 😂 but in all seriousness. Know what you hold, and once you know what you hold, then continue to learn and grow in other aspects of investing, while this one works itself out. 

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10 hours ago, screwball said:

Shabibi is behind the plan if anyone knows he does 

Too bad shabibi is in london now. So shabibi can do nothing about it unless he is allowed to return back to iraq to become the governor of cbi again.

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10 hours ago, Carrello said:

Redenomination (removing zeros) does not automatically ensure an increase in the rate.

So from your point of view, is redenomination itself good or bad for dinar investors? So did this article give a good or bad sign to dinar investors?

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22 hours ago, yota691 said:

If canceling 3 zeros will collapse the iqd   then why have you still brought the article up and talked about it again and again many many times? Don't you have important things to do other than bring the same article up again and again? Don't you like to talk and talk and talk BS and never implement it until how many years? Are you  ( minister of finance and cbi ) delaying the rv on purpose until dinar investors sell off their dinars 100% completely or until some of us die and go to heaven?

Rescue plan? What would that be? Release the new lower denoms tomorrow and rv the iqd at 1:1 the day after tomorrow or in the same day?

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43 minutes ago, rvmydinar said:

Too bad shabibi is in london now. So shabibi can do nothing about it unless he is allowed to return back to iraq to become the governor of cbi again.

He is the orchestrator of the plan 

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12 minutes ago, rvmydinar said:

Rescue plan? What would that be? Release the new lower denoms tomorrow and rv the iqd at 1:1 the day after tomorrow or in the same day?

That’s exactly the rescue plan....when they are ready 

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