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Translation please..


GregHi
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Could somebody please translate this article? I’m not sure how to do that from my phone. My Iraqi Shia friend just texted me this article (which is unusual) and said “Now they are talking about deleting 00 from the Iraqi money”..

 

I clicked on his link, but it’s in Arabic and have no idea what it says..

 

thanks!!

 

https://www.alsumaria.tv/docs/386884

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“Deleting zeros” .. a government talk about two conditions for implementing the project

2021-06-20 | 12:10
“Deleting zeros” .. a government talk about two conditions for implementing the project
 
 
6,682 views
 
 

Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, set two conditions for deleting 3 zeros from the currency, while stressing that the option to delete is on the table to reform the cash payments system in Iraq.

Saleh said in an interview reported by the Iraqi News Agency, "The Central Bank of Iraq has developed a project to delete three zeros from the Iraqi currency in order to reform the cash payments system, which has become burdened with the insomnia of the economic blockade imposed in the nineties of the last century, and put it into research and study long ago, after Examining about 54 international experiments since the end of World War II until the second decade of the twenty-first century, which took place in various countries of the world in which the monetary payment systems were reformed and made to work more efficiently, the last of which was the Islamic Republic of Iran and before that, Turkey.
 
 
 
 
 
 
He added that "the phenomenon of increasing zeros in the monetary unit or adding zeros to a single monetary unit usually comes due to the exposure of economies to unruly waves of inflation or continuous sharp rises for years in the price level due to wars, sieges and conflicts, which lead to financing the deficit of government budgets through cash issuance." .
 
And because the price means the value of goods and services expressed in cash, the continuous rise in prices without stopping leads to the erosion of the value of the monetary unit, which requires the issuance of larger monetary categories due to the lack of value of the smaller monetary groups and the disappearance of their ability to cover transactions and exchanges of high monetary value in the market.
 
 
He continued, "Accordingly, the monetary value of things or tangible assets and others inflates, and when inflation ends, according to which prices have increased to three decimal places, or more or less, according to the nature of each economy, countries resort to reducing the artificial reproduction in numbers, especially in the numbers of accounts books, budgets and various numbers of tools Accountability, after two conditions are met.
 
Saleh explained that "the first condition is price stability and global economic growth, and the second is appropriate stability in political life, so the importance of deleting zeros from the currency and slimming currency units as a necessary condition for reducing accounting numbers and facilitating arithmetic use and the cost of managing new large numbers and the absence of small numbers and fractions," he stressed. It is noted that the slimming of the coins comes because of their role in sustaining the calculation of huge numbers of financial values, which are not absorbed by ordinary computers due to the large number of decimal places and the emergence of many accounting errors, especially dealing in trillions, which means that one number in front of it has 12 decimal places.
 
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1 minute ago, wealthhound said:

“Deleting zeros” .. a government talk about two conditions for implementing the project

2021-06-20 | 12:10
“Deleting zeros” .. a government talk about two conditions for implementing the project
 
 
6,682 views
 
 

Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, set two conditions for deleting 3 zeros from the currency, while stressing that the option to delete is on the table to reform the cash payments system in Iraq.

Saleh said in an interview reported by the Iraqi News Agency, "The Central Bank of Iraq has developed a project to delete three zeros from the Iraqi currency in order to reform the cash payments system, which has become burdened with the insomnia of the economic blockade imposed in the nineties of the last century, and put it into research and study long ago, after Examining about 54 international experiments since the end of World War II until the second decade of the twenty-first century, which took place in various countries of the world in which the monetary payment systems were reformed and made to work more efficiently, the last of which was the Islamic Republic of Iran and before that, Turkey.
 
 
 
 
 
 
He added that "the phenomenon of increasing zeros in the monetary unit or adding zeros to a single monetary unit usually comes due to the exposure of economies to unruly waves of inflation or continuous sharp rises for years in the price level due to wars, sieges and conflicts, which lead to financing the deficit of government budgets through cash issuance." .
 
And because the price means the value of goods and services expressed in cash, the continuous rise in prices without stopping leads to the erosion of the value of the monetary unit, which requires the issuance of larger monetary categories due to the lack of value of the smaller monetary groups and the disappearance of their ability to cover transactions and exchanges of high monetary value in the market.
 
 
He continued, "Accordingly, the monetary value of things or tangible assets and others inflates, and when inflation ends, according to which prices have increased to three decimal places, or more or less, according to the nature of each economy, countries resort to reducing the artificial reproduction in numbers, especially in the numbers of accounts books, budgets and various numbers of tools Accountability, after two conditions are met.
 
Saleh explained that "the first condition is price stability and global economic growth, and the second is appropriate stability in political life, so the importance of deleting zeros from the currency and slimming currency units as a necessary condition for reducing accounting numbers and facilitating arithmetic use and the cost of managing new large numbers and the absence of small numbers and fractions," he stressed. It is noted that the slimming of the coins comes because of their role in sustaining the calculation of huge numbers of financial values, which are not absorbed by ordinary computers due to the large number of decimal places and the emergence of many accounting errors, especially dealing in trillions, which means that one number in front of it has 12 decimal places.
 
» Join the "Alsumaria channel" on YouTube now, click here
 
 
 
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Here ya go

Thanks Wealthhound!!

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39 minutes ago, GregHi said:

Could somebody please translate this article? I’m not sure how to do that from my phone. My Iraqi Shia friend just texted me this article (which is unusual) and said “Now they are talking about deleting 00 from the Iraqi money”..

 

I clicked on his link, but it’s in Arabic and have no idea what it says..

 

thanks!!

 

https://www.alsumaria.tv/docs/386884

Why did you post your article with the source / link in the rumor section? You are supposed to post it in the news section to make sure that your article isn't just a rumor.

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45 minutes ago, GregHi said:

Could somebody please translate this article? I’m not sure how to do that from my phone. My Iraqi Shia friend just texted me this article (which is unusual) and said “Now they are talking about deleting 00 from the Iraqi money”..

 

I clicked on his link, but it’s in Arabic and have no idea what it says..

 

thanks!!

 

https://www.alsumaria.tv/docs/386884

Great article! This is exactly what i wanted to see. Delete the zeros, bring out the small denomination notes and add value, lets go!

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7 minutes ago, rvmydinar said:

Why did you post your article with the source / link in the rumor section? You are supposed to post it in the news section to make sure that your article isn't just a rumor.

Rvmydinar, I’m sure the article is from a real source but everything related from my Iraq Shia friend I post in the rumor section. Usually it’s conversations that we have and I just don’t want to mislead anyone potentially. Obviously I know what we talk about is true and real but with the gurus constantly lying to everyone, I just feel safer posting anything related to him in rumors. So everyone can chose wether to believe it or not. ;)
 

also, it looks like the article was just posted in the news section by someone else..

Edited by GregHi
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Just now, GregHi said:

Rvmydinar, I’m sure the article is from a real source but everything related from my Iraq Shia friend I post in the rumor section. Usually it’s conversations that we have and I just don’t want to mislead anyone potentially. Obviously I know what we talk about is true and real but with the gurus constantly lying to everyone, I just feel safer posting anything related to him in rumors. So everyone can chose wether to believe it or not. ;)

I appreciate your non-pumping approach👍

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5 minutes ago, GregHi said:

Rvmydinar, I’m sure the article is from a real source but everything related from my Iraq Shia friend I post in the rumor section. Usually it’s conversations that we have and I just don’t want to mislead anyone potentially. Obviously I know what we talk about is true and real but with the gurus constantly lying to everyone, I just feel safer posting anything related to him in rumors. So everyone can chose wether to believe it or not. ;)
 

also, it looks like the article was just posted in the news section by someone else..

Thanks for your clarification GregHi. I felt relieved when you said that. Yep, someone else already posted it in the news section.

 

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Yes, it’s talking about a LOP! Again, me myself and I believe a LOP is not an option. Why you say. Because they could have done this,  back years ago and not spent millions and millions of dollars to get to this point! But remember this is Iraq and I can’t remember anybody considered a genius coming out of that $hi+ hole! Maybe we are very close to the end of this ride! To me it doesn’t feel like it, but who knows! I’m riding this horse till it dies or I do whichever comes first! JMHO 🤠

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28 minutes ago, Artitech said:

Yes, it’s talking about a LOP! Again, me myself and I believe a LOP is not an option. Why you say. Because they could have done this,  back years ago and not spent millions and millions of dollars to get to this point! But remember this is Iraq and I can’t remember anybody considered a genius coming out of that $hi+ hole! Maybe we are very close to the end of this ride! To me it doesn’t feel like it, but who knows! I’m riding this horse till it dies or I do whichever comes first! JMHO 🤠

I think you are exactly right. They could have done a lop anytime in the last 17 years, but they didn’t.. I see the article as just getting some info out to the people that change is coming, (hopefully soon). 

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This thread is a fine example of different posters willing to help each other. That's what is so nice about being able to reach out for assistance and have people more than willing to help and not ridicule.

 

  A tip of the hat to those fine folks. :tiphat:

 

( and then there's Davis ) lol

 

   pp

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3 hours ago, Artitech said:

$h!T ,out of luck Brother! Dont you Know! 🤠

Just in case where will you be riding your horse because someone will need to collect your dinar and I would not be opposed to making sure it falls into the right hands. 

As in mine :)

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On 6/21/2021 at 2:49 AM, Artitech said:

Yes, it’s talking about a LOP!  

LOP? just talk talk talk BS and have never been implementing in almost 18 years. do you think the cbi will leak the date and the rate for the rv  out openly to the publics? what is going to happen then if they do? do you think people all over the world and dinar dealers won't buy off dinars ( remember we are talking about once in a life time investment opportunity here and who doesn't want to get rich when the opportunity is knocking on your door )? don't you folks remember that the cbi want to suck all the dinar in from both iraq citizens who have been hiding them under the mattress and from dinar investors out of iraq. 

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On 6/21/2021 at 5:49 AM, Artitech said:

Yes, it’s talking about a LOP! Again, me myself and I believe a LOP is not an option. Why you say. Because they could have done this,  back years ago and not spent millions and millions of dollars to get to this point! But remember this is Iraq and I can’t remember anybody considered a genius coming out of that $hi+ hole! Maybe we are very close to the end of this ride! To me it doesn’t feel like it, but who knows! I’m riding this horse till it dies or I do whichever comes first! JMHO 🤠

Correct 

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