Could We Be Waiting Another Year Or More ???

[Genethunder2001]

An Iraqi official announced the adoption of a new strategy intended to raise the value of the Iraqi dinar against foreign currencies.Posted: October 9, 2010 by Justhopin in Iraqi Dinar/Politics

Tags: Iraq, Dinar, Currency, IQD, CBI, middle east, exchange rate, Business and Economy, Iraqi dinar, Central Bank of Iraq, Iraqi Central Bank 02010/9/10

The chancellor said the Central Bank of the appearance of Dr. Mohammed Saleh in a statement: “I’ve been working for years to improve the value of the Iraqi dinar exchange, and was taking several measures until we came to the stability of its value at 1170 dinars to the dollar.”

He explained that he had talked with some fluctuations up and down according to the impact of the overall situation in Iraq in the absence of stability.

Reform Progress

He disclosed that the new strategy has begun the reform of management system of the national currency and payment system of Iraq, said that this will be the basis in the application of Istratejp to reform the currency. The Iraqi official was likely that these steps will take a year or more.On the zeros added in the Iraqi currency, which made the value of the disbursement of land, Saleh said that the zeros added that high inflation rates since the Iran-Iraq war and the subsequent siege and invasion, and thus doubled the cash block several times.

In 1990, the cash block of 28 billion dinars, and became a six trillion dinars in 2003, and now stands at 25 trillion dinars. He said that this has become necessary to change the payment system because of the Iraqi economy on the verge of developing and producing oil major which leads to a large expenditure.

According to the adviser at the CBI, the new strategy will transform the current monetary mass (25 trillion dinars) to $ 15 billion (calculated to 1,666.67) through the adoption of coins and the smaller Iraqi currency.

And the ability to withstand the Iraqi dinar against foreign currencies, Saleh said that “the Iraqi economy is strong and has great resources to qualify to stand in front of foreign exchange if there are economic and monetary policy is correct, and political and economic stability and security.” He expressed optimism that the Iraqi economy will recover, which is reflected in the rise of the dinar against foreign currencies.

[cgbrown]

Thanks for the post..... and i know you have a link for this.

[splicer09]

That will never happen. Good luck passing this one off. Can't wait till people eat this one up. Careful everyone it's garbage.

[TRAINEDPATRIOT]

Part of a posted article from April 2010

-------http://www.alaalem.c...=news&id22=6468

Comment at bottom of page dated 13/4/2010

[keepmwlknfny]

Its all garbage........how do you introduce lower currency and then salaries, cost of goods and food DONT change they remain the same..... the whole idea of this was to ease cash transactions.....so your trying to tell me instead of taking one wheelbarrow full of money they are going to need two? Give me a break....Id LOVE to meet the people who cut and paste this crap together.......

[hspotman]

Its all garbage........how do you introduce lower currency and then salaries, cost of goods and food DONT change they remain the same..... the whole idea of this was to ease cash transactions.....so your trying to tell me instead of taking one wheelbarrow full of money they are going to need two? Give me a break....Id LOVE to meet the people who cut and paste this crap together.......

Keep, what's your take on this thread- Low Iraq Dinar Denomination is Official if you haven't replied in there already? I'd be really interested in your opinion on it

Edited October 10, 2010 by hspotman

[jdrtkm]

Could We Be Waiting Another Year Or More ???

Yes we could, heck we could wait another 10 or longer, or we could have it today or next week. It could even be never. There is not one shred of proof either way. It is Iraq people, they have not had a world traded curency in what 50 years, or more. They have been fighting among themselves and with others for what 2 or 3 thousand years? We are supposed to come in a liberate them in 7 to 10 years? Highly dificult task and naive to think so. Anything can happen, they could even reprint agian, we DON"T know for sure. All we can do is remain hopefull and pray for an RV. Good luck to everyone.

[keepmwlknfny]

Keep, what's your take on this thread- Low Iraq Dinar Denomination is Official if you haven't replied in there already? I'd be really interested in your opinion on it

Well if there is any truth to it speaking about the lower denominations is cool cause they are acknowledging them at least.....dont be worried about the "could take a year" statement cause that would just tell me a year before they are finally finished removing the zeros....like gradually removing them out of circulation for the next year and hopefully having them all in.....but there are contradicting statements in this article that make me think its all more BS.......tryin to keep the speculation down and the masses confused.....no worries.....this baby is done.....just waiting for the release to the world my friend......get ready....and STAY THIRSTY!!!

[hspotman]

and STAY THIRSTY!!!

LOL, who's your hero?? lol Dos Equis anybody?

[Dryden01]

"And the ability to withstand the Iraqi dinar against foreign currencies, Saleh said that “the Iraqi economy is strong and has great resources to qualify to stand in front of foreign exchange if there are economic and monetary policy is correct, and political and economic stability and security.” He expressed optimism that the Iraqi economy will recover, which is reflected in the rise of the dinar against foreign currencies. "

What "rise against foreign currencies" is that? Are the Iraqis competing for the bottom of the world currency barrel against the VND to see which can become more worthless?

[JugDawg1]

I think they're about to rise to the top of the barrel.

Edited October 10, 2010 by JugDawg1

[Serenity]

As I understand it, the whole process should take about a year....The process of removing all three zero notes and circulating new lower denominations...We will be long gone by then....

[SoldierOfIndependence]

Well if there is any truth to it speaking about the lower denominations is cool cause they are acknowledging them at least.....dont be worried about the "could take a year" statement cause that would just tell me a year before they are finally finished removing the zeros....like gradually removing them out of circulation for the next year and hopefully having them all in.....but there are contradicting statements in this article that make me think its all more BS.......tryin to keep the speculation down and the masses confused.....no worries.....this baby is done.....just waiting for the release to the world my friend......get ready....and STAY THIRSTY!!!

...dems da truest woids eva spoke!

[DaveH]

Its all garbage........how do you introduce lower currency and then salaries, cost of goods and food DONT change they remain the same..... the whole idea of this was to ease cash transactions.....so your trying to tell me instead of taking one wheelbarrow full of money they are going to need two? Give me a break....Id LOVE to meet the people who cut and paste this crap together.......

Yeah Keep...me too

...dems da truest woids eva spoke!

R u the guy Troy from the show Swamp people?

[SoldierOfIndependence]

R u the guy Troy from the show Swamp people?

Baahaha!! Naa, I was thinking in the voice of bugs bunny

[kamm]

Davhina I was thinking the same thing. Thats funny because I am watching that show right now. Steve

[umbertino]

All I care about is......

1) that the Dinar RV's

2) That my 25,000 Dinar notes stay 25,000 and do not become 25 Dinar notes

3) that the IQD becomes tradable, exchangeable,convertible INTERNATIONALLY

I'm not asking for too much, am I?

Edited October 11, 2010 by umbertino

[jdrtkm]

All I care about is......

1) that the Dinar RV's

2) That my 25,000 Dinar notes stay 25,000 and do not become 25 Dinar notes

3) that the IQD becomes tradable, exchangeable,convertible INTERNATIONALLY

I'm not asking for too much, am I?

If it was up to me I would grant all 3 of your wishes, 1- is most likley to happen some day. 2- let's all hope, it is Iraq 3- now that's a real possibility for the first time in what 50-60 years keep the faith brother someday it just might.

[umbertino]

If it was up to me I would grant all 3 of your wishes, 1- is most likley to happen some day. 2- let's all hope, it is Iraq 3- now that's a real possibility for the first time in what 50-60 years keep the faith brother someday it just might.

Thanks and I'll keep the Faith.

[hspotman]

All I care about is......

1) that the Dinar RV's

2) That my 25,000 Dinar notes stay 25,000 and do not become 25 Dinar notes

3) that the IQD becomes tradable, exchangeable,convertible INTERNATIONALLY

I'm not asking for too much, am I?

All this is what I understood from Phoenix's thread,,,,,As I understood it tonight, your three wishes may well be granted by the end of the week let's hope. 1-All signs point to this week or soon after for RV;2- all-be-it the 25,000 will be changed to 25 after removing the zero's, you will have time to exchange yours in; 3-for a given time after redenomination, the IQD you hold will be exchangeable. Again, this is what I understood from Phoenix's thread tonight-CBI Passed Plan To Remove Zeros! . Unless something has changed in the last few hours, or I understood it wrong, we most likely have an RV comin very very soon.

Edited October 11, 2010 by hspotman

[tport]

Yeah Keep...me too

R u the guy Troy from the show Swamp people?

Now that is the best post for some time. I love to start my day out with a good laugh! I still agree with Keepm 100%! Thanks for this fun post Davhina!!