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Iraqi Finance: Delete the zeros from the currency will strengthen the position of Iraq to the International Monetary


carlablum
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Iraqi Finance: Delete the zeros from the currency will strengthen the position of Iraq to the International Monetary

Baghdad / November 18 (Rn) - The Iraqi Ministry of Finance, Thursday, that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of the Iraqi dinar in the International Monetary Fund.

The chancellor said the Iraqi Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that "the process of removing three zeroes from the local currency will strengthen Iraq's economic position in the international community and specifically the International Monetary Fund."

He added that the "survival of the current currency and the current status would not address the question of the economic gap taking place in the Iraqi dinar as it will increase the burden on the Iraqi economy."

And that "the process of changing the currency certainly will take time and money, but is required to remove the barrier between the Iraqi economy and the global economy and to give more than the value of the Iraqi dinar."

In the view of the central bank to raise the three zeroes from the local currency is a complex process and need to be thorough economic study.

He expressed the International Monetary Fund in August last support of the Iraqi economy in the event of having a number of economic measures, including privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.

The Iraqi government denied conducting any change in the local currency this year in order to reduce inflation.

The news has recently indicated that the Iraqi government plans to make changes to the local currency, including raising three zeros in order to reduce inflation suffered by the Iraqi market, as well as add the language Kurdish paper currency.

The local Iraqi currency has gone through several changes in its history, most recently in 2004 when the former Governing Council replaced the previous currency, which was a symbol of the former regime

http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/2/196160/&rurl=translate.google.com&usg=ALkJrhg_BuRdcGNy8_psl6W9lyZ1PZIXqQ

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Here's my take, if they RV soon, this isn't happening seeing as the article states "it will take time, study, etc".... This could be a classic legit article that is just misinformation to keep speculation down in the coming days... Not saying the LOP isn't possible, but think about all the contracts they were floating on the premise of the "dinar's" future value - if you just turn around and LOP the currency you are screwing everyone across the board - not just foreign speculators that bought the currency. Also, the Global back lash would probably not sit well for them - just about every Country in the world would feel screwed or ripped off - not the best way to come back to the arena with a NEW Government...

These are just my thoughts. Not trying to be positive or negative... Just a lot in play for something like this to just "leak" out casually... they'd keep info like this very close if they were going to LOP in my own personal opinion!

- Fresh <_<

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Here's my take, if they RV soon, this isn't happening seeing as the article states "it will take time, study, etc".... This could be a classic legit article that is just misinformation to keep speculation down in the coming days... Not saying the LOP isn't possible, but think about all the contracts they were floating on the premise of the "dinar's" future value - if you just turn around and LOP the currency you are screwing everyone across the board - not just foreign speculators that bought the currency. Also, the Global back lash would probably not sit well for them - just about every Country in the world would feel screwed or ripped off - not the best way to come back to the arena with a NEW Government...

These are just my thoughts. Not trying to be positive or negative... Just a lot in play for something like this to just "leak" out casually... they'd keep info like this very close if they were going to LOP in my own personal opinion!

- Fresh <_<

You didnt know that pretty much all contracts signed with other countries are paid in THAT countries currency.....not with the countries currency they are doing buisness with....so they will not get screwed.....not to mention that if any govts are holding dinar its most likely all in electronic form....not physcial bills....so again....not really anyone would be getting screwed......just thought I would bring that to your attention.....

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Here's my take, if they RV soon, this isn't happening seeing as the article states "it will take time, study, etc".... This could be a classic legit article that is just misinformation to keep speculation down in the coming days... Not saying the LOP isn't possible, but think about all the contracts they were floating on the premise of the "dinar's" future value - if you just turn around and LOP the currency you are screwing everyone across the board - not just foreign speculators that bought the currency. Also, the Global back lash would probably not sit well for them - just about every Country in the world would feel screwed or ripped off - not the best way to come back to the arena with a NEW Government...

These are just my thoughts. Not trying to be positive or negative... Just a lot in play for something like this to just "leak" out casually... they'd keep info like this very close if they were going to LOP in my own personal opinion!

- Fresh <_<

People, lets not put our heads in the sand! I think this is very clear that the are removing the zero's from the notes. Seriously if anyone here actually believes that an average Iraqi security force guard who was making 1200 USD will become a millionare just for investing $1000usd. Lets get real!

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I usually don't post....i have just been trying to sit back and listen and learn what everyone has to offer to come to my own conclusions, but WTH? Thai Guy is the one that is reposting everything that TK says and now you are saying the RV is never going to happen. Why are you here if you don't believe in this investment

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I cant find the post but I recall someone explaining that a lop of the 000's would require a lop of the 000's on both side of the decimal points. in that case, 1 dinar = .86cents. Probably talking out my rear end but I'm pretty sure that was discussed somewhere in detail. Anyone recall that by chance?

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"The Iraqi government denied conducting any change in the local currency this year in order to reduce inflation."

This IS NOT saying they will not conduct any change this year.....

This IS saying they have not done anything to their currency to reduce inflation....

The primary reasoning, IMO, is to align their currency with the WTO, to build better respect for their currency among the international community, and to ease transfers among the Iraqi people.

There is also the obvious issue of paying for their 2011 budget!

None of this can be done without an RV....

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This is purly a re-circle article that l have seen over the last three years. l refuse to thank the poster this time around. Please, do a better next time.

Well if you follow the link is shows that this was a posted article today from AKNEWS dated today. As much as we all would like to become instant Billionaires it is becoming more increasingly clear what is going to happen with the Dinar.

I mean why should we continue to believe the Guru's when they have been wrong on so many points before?

What sounds more realistic 3-4 times your money or 1000 times your money?

I am not trying to be negative or rain on a parade. Just stop and think about it for a minute back away from the cheering section and actually look at the game.

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There will be no LOP! How many times has this been beat into the ground. Removing 3 zeros from the value of the cuuency does not mean LOP. .00086. Remove trhee zeros and you get . 86. That is how it is done. Naysayers learn to research this topic is all over DV posts.

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Well if you follow the link is shows that this was a posted article today from AKNEWS dated today. As much as we all would like to become instant Billionaires it is becoming more increasingly clear what is going to happen with the Dinar.

I mean why should we continue to believe the Guru's when they have been wrong on so many points before?

What sounds more realistic 3-4 times your money or 1000 times your money?

I am not trying to be negative or rain on a parade. Just stop and think about it for a minute back away from the cheering section and actually look at the game.

You're right, I read this article on another site, it is in fact dated today. It doesnt mean that it is not simply a recycled article but it is dated today.

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For what it's worth,

How I read this is that no lop is needed and that small denoms are the key. Also, I have read many news articles and this has obviously been hashed around before but I can't worry about protecting some people from reading articles that were similar in the past. If it is dated current then I will post it or should I Note the article with a warning that it may be an old article dated today. tongue.gif LOL

Carlasmile.gif

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I usually don't post....i have just been trying to sit back and listen and learn what everyone has to offer to come to my own conclusions, but WTH? Thai Guy is the one that is reposting everything that TK says and now you are saying the RV is never going to happen. Why are you here if you don't believe in this investment

You misunderstand my posting of TK's "Intel" When I put his comments out there it is simply to show how riduculious what some people say. The RV will happen! It's just not going down like everyone in the US hit the Lottery all of a sudden. Hey man, dream as big as you want too! Reality will eventually set in. I can assure you this any investor in the World would be happen with 4x their money. Well maybe not you

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Let's see here back in 2006 when inflation was hi they did the three zeros lop idea because at that time it was feasable, but now with inflation low and a currency thats the most stable in the world right now they can not Lop, but they can Raise the zeros and move on . The article is recycled from 2006 for sure, the only thing that get's me is if they make a new currency with Kurdish language added , that process could take months to do just to make the plates for printing. I hope they already got there ducks in a row for printing if they really do plan on getting it out by the end of the Year.

Hope and Pray Peep's

VIZIOIRAQI wink.gifcool.gif

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I see this as a very good thing!

This is not a repost! Every article like this has always said that they have to study to see if raising (razing, or removing) the 3 zeros would benefit their economy. This article is saying that removing the large bills (the one's with 3 zeros) from their currency will benefit them!

If you read carefully and try to understand, it's pretty clear. There will be no lop, and this procedure will "enhance the value of the Iraqi dinar!"

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Do they want more people buying lots of dinars just prior to RV? Of course not!

So, in order to discourage that, they could be using this kind of misinformation to curb our enthusiasm!

Just my opinion! Go RV!

- Barboza

Edited by Barboza
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Do they want more people buying lots of dinars just prior to RV? Of course not!

So, in order to discourage that, they could be using this kind of misinformation to curb our enthusiasm!

Just my opinion! Go RV!

- Barboza

I totally agree. We were told over and over there would me misinformation put out just before it happens.

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Do they want more people buying lots of dinars just prior to RV? Of course not!

So, in order to discourage that, they could be using this kind of misinformation to curb our enthusiasm!

Just my opinion! Go RV!

- Barboza

I appreciate your opinon and respect your input. IMO, there is not some "Great Conspiracy". Economics and reason can help shed light on this matter. I read last night where the G.E.T. had over 250 million dinar pledges to the VETS, lol. If the RV goes thru like most of us were led to believe then the VET's would have about 5% of what is allocated to the VA by our federal gvt.

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