vegasman56 Posted September 9, 2010 Report Share Posted September 9, 2010 This is the site where the information came from There has been much speculation in recent months that the Iraqi dinar would be re-based, knocking off the last three zeros. The lastest news is that Iraq will not in fact remove the zeros from its currency, because it will not resolve inflation and will create opportunities for corruption, reports AKnews, citing a senior source in Iraq’s ministry of finance and economics. The Iraqi dinar was largely devalued after Iraq’s invasion of Kuwait in 1991 and the imposition of international sanctions on the country. While before 1991, one Iraqi Dinar was equal to around $3, now $1 is worth roughly 1170 Dinars, according to Iraqi Central Bank’s exchange rates. Some experts have suggested that removing the zeros will enhance the country’s currency and allow it to better tackle inflation. “The Central Bank wanted to remove the zeros three years ago, we alleged that it was impossible. They wanted to do it again last year and we rejected the proposal again. The issue is currently brought up once again, but the Ministry of Finance and Economics insists that Zeros will remain,” said Fazil Nabi, the deputy minister of finance and economics. Nabi said removing the zeros will not reduce the inflation rates as Iraq’s inflation has been stable and remained low for quite some time. “Besides, it will create problems for many citizens because it takes time for them to learn to use the new currency,” he said. Nabi also stated that certain people will be harmed by removing the zeros because their salaries will decrease while it is unlikely that the price of goods in the markets would decrease. It is not clear to IBN how the minister came to this conclusion. 1 1 Link to comment Share on other sites More sharing options...
ha ha Posted September 9, 2010 Report Share Posted September 9, 2010 They can spin it all they want, the rate have been set. All one needs to do is, look at 2010 budget. They used Bahrain rate. 2.65. 2 Link to comment Share on other sites More sharing options...
EBJNYC Posted September 9, 2010 Report Share Posted September 9, 2010 They can spin it all they want, the rate have been set. All one needs to do is, look at 2010 budget. They used Bahrain rate. 2.65. This sounds good -- please provide MORE data -- thanks. Specifically -- how the 2010 budget ties in to the 2.65 Bahrain rate. Link to comment Share on other sites More sharing options...
hardtop Posted September 9, 2010 Report Share Posted September 9, 2010 hmmmmm Link to comment Share on other sites More sharing options...
mhl0521 Posted September 9, 2010 Report Share Posted September 9, 2010 This sounds good -- please provide MORE data -- thanks. Specifically -- how the 2010 budget ties in to the 2.65 Bahrain rate. it was in one of scooters later research pieces...should be pretty easy to find Link to comment Share on other sites More sharing options...
mrref Posted September 9, 2010 Report Share Posted September 9, 2010 THIS IS REALLY GETTING TO BE FUNNY, LETS SEE THEY ARE GOING TO REMOVE THE ZEROS, NO THEY ARE NOT GOING TO REMOVE THE ZEROS, YES THEY ARE GOING TO REMOVE THE ZERO'S, NO THEY ARE NOT GOING TO REMOVE THE ZERO'S ..LETS SEE NOW HOW MANY TIMES HAVE I HEARD THAT STORY OVER THE PAST 6 AND HALF YEARS, HECK I LOST COUNT Link to comment Share on other sites More sharing options...
adontik Posted September 9, 2010 Report Share Posted September 9, 2010 This sounds good -- please provide MORE data -- thanks. Specifically -- how the 2010 budget ties in to the 2.65 Bahrain rate. Hey EBJNYC...I'm not sure if you read Scooters post part III of why this RV has to happen. Here is the link to part III. http://dinarvets.com/forums/index.php?/topic/29177-why-this-rv-must-occur-part-three-of-three-the-invtervention/page__p__175031__fromsearch__1entry175031 Link to comment Share on other sites More sharing options...
rsneed Posted September 9, 2010 Report Share Posted September 9, 2010 Hey EBJNYC...I'm not sure if you read Scooters post part III of why this RV has to happen. Here is the link to part III. http://dinarvets.com/forums/index.php?/topic/29177-why-this-rv-must-occur-part-three-of-three-the-invtervention/page__p__175031__fromsearch__1entry175031 Can you give the links to parts one and two also.... was trying to find them and couldn't. I would like to add them as favs to be able to reference them. Thanks GO RV!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
slatesrh Posted September 9, 2010 Report Share Posted September 9, 2010 NO OOOOOOOOOOOOOOOOOOOO, yes OOOOOOOOOOOOOOOOOO, No OOOOOOOOOOOOOOOOOO Just RV already Link to comment Share on other sites More sharing options...
cjp Posted September 9, 2010 Report Share Posted September 9, 2010 what would happen if they remove three zeros to our dinar value? Link to comment Share on other sites More sharing options...
daniel c Posted September 9, 2010 Report Share Posted September 9, 2010 a similar pattern Allawi.. Maliki.. Allawi.. Maliki..Allawi.. Maliki..Allawi.. Maliki.. Allawi.. Maliki.. Allawi.. Maliki..Allawi.. Maliki..Allawi.. Maliki.. I am tired of all this 1 Link to comment Share on other sites More sharing options...
Joe P Posted September 9, 2010 Report Share Posted September 9, 2010 Here's what my silly mind thinks... PERFECT TIMING TO RELEASE THIS ARTICLE.... Let's pray we see a whole slew of negative news...cause the RV is upon us. Link to comment Share on other sites More sharing options...
Munsch Posted September 9, 2010 Report Share Posted September 9, 2010 I saw this posted today on Dinartrade's news section, which was not there yesterday. It is an article from this website dated from 24-Aug-2010. Link to comment Share on other sites More sharing options...
pourit Posted September 9, 2010 Report Share Posted September 9, 2010 I'm thinking that the three zeros are................... Maliki...Allawi...and ..Mahadi !!! When this is over we can dump three of our zeros............................................Pelosi...Reid.....and then BO! (54 DAYS TILL ELECTION) POURITFORWARD 1 Link to comment Share on other sites More sharing options...
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