Thursday Night Opinions @ 9:50 PM CDT - 1/11/2024

[screwball]

The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.

Keywords and said in a statement on Monday that “the goal of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency,” pointing out that “this strategic project will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the bourses vital world. ”

He added that the bank “is working on mechanisms for the implementation of this project is expected to start at the beginning of 2017,” noting that “the central bank began the first steps of the project through the selection of designs, companies and the country in which the currency will be printed.”

He pointed out that “the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years,” pointing out that “this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity in the market.”

 

http://warkaanews.net/?p=9350

[pokerplayer]

Great stuff @screwball  thank you. 

 

$1.12 ? I can live with that.  I'd cash out and never look back.

 

   pp

[cjdavid]

Some good historical finds there screwball. As always, time, and in Iraq, x-times = 20 plus years, will tell. 
 

one day closer

[screwball]

25 minutes ago, cjdavid said:

Some good historical finds there screwball. As always, time, and in Iraq, x-times = 20 plus years, will tell. 
 

one day closer

19 years in intelligence amongst other things you archive everything well almost everything! 

[screwball]

Chairman of the Board of Directors of banks, economy, investment and finance said that the deletion of zeros from the Iraqi currency has become an urgent need to raise the value of the currency and maintain the balance in the market. 

[screwball]

Delete and raise the value! 

[screwball]

Dr. Shabibi in an exclusive interview with (the people) shall be published later that the removal of zeros from the Iraqi currency at the moment was inevitable and will contribute to facilitate the work of the government and Atathirat real current economic situation, stressing that it will be canceled three zeros from the current currency will be printed six to seven categories of a new Iraqi cash. 

[screwball]

Will resort to install it to the dollar or a basket of currencies or managed float method of tracking any leave, as is currently the case, is determined by the forces of supply and demand within the margin of acceptable power to intervene to maintain. 

[screwball]

The CBI will introduce three new banknotes: 50 dinars, 100 dinars and 200 dinars. For smaller transactions, the CBI will also issue 1-dinar and 2-dinar coins which Iraq currently does not use. **(Note..you can't have a value this low without an high exchange rate)

[screwball]

The purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency,” pointing out that “this strategic project will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges. ”

[screwball]

Reminder 

 

He pointed out that “the central bank promised that he could make a change of currency and delete zeros in order to reduce inflation in the country.” 

 

two actions not one!

[screwball]

We have until April 30, then it will be time to kick this can down the road for 12 months…

[screwball]

Or if there’s a economic collapse and a return back to the gold standard…

[cjdavid]

1 minute ago, screwball said:

We have until April 30, then it will be time to kick this can down the road for 12 months…

At which time I will take a long break and wait for an email from Adam. If even he is still alive. Thankfully I have never even considered banking on this happening. After all it is the Middle East we have been dealing with. Always talk, talk, talk. Sabre rattlers and then they fold and run when it comes to bullets flying. As for Iran, they need to be handled like Israel is handling Hammas. Turn that country into glass from a large bomb and let GOD sort it all out.  

(sorry for the rant. We have an extended family member being deployed as a pawn soon. Democrats love war and in this case to remove the focus off of their corruption)

[Luigi1]

MarkZ  There has been some incredible chatter, gossip and rumors today. Group contacts have erupted through the day. There are great expectations of last minute changes to compliance over this weekend and our notifications early next week... Other contacts are saying the same thing…the chatter is notifications early next week. Just cross your fingers and hope it’s accurate. I’m kinda excited but going to stay grounded.

 

MarkZ  Some of my contractor contacts are back in Iraq now after the holidays and they are hearing very positive things for this month. Their expectations are running extremely high right now.

 

We're really in for it...MZ's gut feeling...when his gut talks to him & he's hearing things...look out.

[ronscarpa]

6 hours ago, screwball said:

The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project. - http://warkaanews.net/?p=9350

 

 

Great article Screwball - thanks for posting ... What was it's date..? - RON 

[dinarham]

  As long as the Defense Fund of Iraq , DFI, remains in place , so do the sanctions , preventing Iraq from being a financially sovereign country. O'biden renewed the DFI back in May , alluding to the idea that there is some kind of deadline or criteria that would end this thing.

[Society]

Wow.....great recap articles Screwball !!!  It has been a long time since I read those.....Thank You!!

 

As we all read these, it is clear that the current "3 zero series" notes are to coexist in the market place with the new currency for at least 2 years and then coexist directly through the banks for at least 10.  IMF Article 8 compliance requires no MCP.  If these notes coexist, they can't be treated at a different rate than the new currency denominations or the country will be dealing in a MCP.  Pure logic dictates that a 1 dinar coin cannot function at 1320, much less a 25 fil (1/40th of a dinar) coin as they intend.  They must make a significant rate change in conjunction with introducing the new currency.  Consequently, to be Article 8 compliant, all currency denominations in circulation MUST be treated at the same rate.  Article 8 compliance is what Iraq desperately needs to have Freedom of Movement of capital and to rid itself of the USD to purchase imports.

 

These facts completely discount the probability that iraq will undergo the feared "LOP" of its currency.  If they were to LOP, they would be required to withdraw the old "3 zero series" notes from the market in order to not be caught in a MCP.  This withdrawal would likely be a maximum of 90 days after which the "3 zero series" notes would be null and void.  That would have to include all current notes including the 100, 250 and 500.  This is clearly not their intention and the plan is to have them coexist in the marketplace for a least 2 years.  Therefore, although still possible, a LOP would seem to be unlikely.

 

Pimpy is clearly out of touch with reality.  His whole 1/12 in 2026 analysis was clearly errant as I believe his whole LOP dissertation is now.

[BETTYBOOP]

3 minutes ago, Society said:

Wow.....great recap articles Screwball !!!  It has been a long time since I read those.....Thank You!!

 

As we all read these, it is clear that the current "3 zero series" notes are to coexist in the market place with the new currency for at least 2 years and then coexist directly through the banks for at least 10.  IMF Article 8 compliance requires no MCP.  If these notes coexist, they can't be treated at a different rate than the new currency denominations or the country will be dealing in a MCP.  Pure logic dictates that a 1 dinar coin cannot function at 1320, much less a 25 fil (1/40th of a dinar) coin as they intend.  They must make a significant rate change in conjunction with introducing the new currency.  Consequently, to be Article 8 compliant, all currency denominations in circulation MUST be treated at the same rate.  Article 8 compliance is what Iraq desperately needs to have Freedom of Movement of capital and to rid itself of the USD to purchase imports.

 

These facts completely discount the probability that iraq will undergo the feared "LOP" of its currency.  If they were to LOP, they would be required to withdraw the old "3 zero series" notes from the market in order to not be caught in a MCP.  This withdrawal would likely be a maximum of 90 days after which the "3 zero series" notes would be null and void.  That would have to include all current notes including the 100, 250 and 500.  This is clearly not their intention and the plan is to have them coexist in the marketplace for a least 2 years.  Therefore, although still possible, a LOP would seem to be unlikely.

 

Pimpy is clearly out of touch with reality.  His whole 1/12 in 2026 analysis was clearly errant as I believe his whole LOP dissertation is now.

100 % agree

[oregonrealtor]

7 hours ago, Luigi1 said:

MarkZ  There has been some incredible chatter, gossip and rumors today. Group contacts have erupted through the day. There are great expectations of last minute changes to compliance over this weekend and our notifications early next week... Other contacts are saying the same thing…the chatter is notifications early next week. Just cross your fingers and hope it’s accurate. I’m kinda excited but going to stay grounded.

 

MarkZ  Some of my contractor contacts are back in Iraq now after the holidays and they are hearing very positive things for this month. Their expectations are running extremely high right now.

 

We're really in for it...MZ's gut feeling...when his gut talks to him & he's hearing things...look out.

The only things 'erupting' are out Mark's backside.

[screwball]

8 hours ago, ronscarpa said:

 

Great article Screwball - thanks for posting ... What was it's date..? - RON 

12 th August 2017 is the date I copied the article into my notes!