The central bank is ready to delete the zeros from the dinar after the formation of the government directly

[Chief V]

Thank you mxridermomma she sent this to me, and it's an excellent article! It's exactly what we've been speculating and here it's laid out in print once again...she didn't wish to get bashed by folks for putting out good information, hopefully there are those of you who are starting to realize that FEAR is not an option on this website, and just leave folks alone. Geesh.

Thanks again MXRIDERMOMMA!!!

Citizen / follow-up .. Mustafa Al Hashimi

Economic expert called for increased funds in central bank dollar and the reduction of import commodity because of its link the issue of the deletion of zeros.

Mahouelle's (Citizen): The process of deletion must be matched by the power of currency

Said Dr Issam Mahouelle's (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency.

Stressing that the issue is not the issue, but delete the zeros is the issue of currency of a country which can raise the value through the revitalization of internal and external trade balances and increase the dollar and the reduction of import.

The Central Bank of Iraq has affirmed its readiness to delete the zeros from the currency after the formation of the government directly, pointing at the same time that those zeros that are added to the Iraqi currency during the past formed a cluster of large cash amounted to 27 trillion Iraqi dinars.

The adviser said the Iraqi Central Bank Governor appearance of Mohammed Salih in an interview with "Alsumaria News", "The zeros that are added to the Iraqi currency, during the last period, formed a cluster of large cash amounting to more than four trillion paper money, financial value amounted to 27 trillion Iraqi dinars, after that was 25 billion dinars in 1980, "noting that" Iraq is unable to manage this block because it is a small country where the large number of funds that traded on the Iraqi market has led to confusion in transactions for large commercial banks and in the work.

The Iraq and gradually the issuance of new banknotes after 1991 when it began currencies are scarce in the Iraqi market for several reasons, most notably the high demand for them to meet the buying and selling as well as the smuggling of currency abroad, and to the north of Iraq, which split its time for the central administration, which made the Iraqi government allows Central Bank of printing new banknotes to meet the local need, and continued the process of lifting of the zeroes of the dinar to beyond 2003 through the issuance of a class of cash amounting to 25 thousand dinars.

Saleh added that "the Bank has fully prepared to delete the zeros of the Iraqi dinar, once forming the Iraqi government," noting that "the deletion of zeros is a national issue and may need to special legislation, despite the fact that the Central Bank of Iraq is a reform of the currency management from the core work and to delete the zeros is one of the strategic functions of the Central Bank of Iraq.

Saleh pointed out that "the Bank was able, during the last term, to reduce the level of inflation to the level of one decimal place, after more than twenty years," noting that "Iraq has managed for the first time to reduce inflation to 3%, which reflects the success of the policy of the country's monetary" . For his part, said economic expert on behalf of Jamil Antoine in an interview for "Alsumaria News", "Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar," noting that "the deletion of zeros needed to stabilize the security and political, as well as economic stability.

Antoine said that "the central bank by seeking to delete the zeros of the Iraqi dinar is designed to give moral force, not physical strength of the dinar," noting that "the deletion of zeros needed to create and cultural awareness for the Iraqi people and the Iraqi market."

The CBI, with headquarters in Baghdad, has four branches in Basra and Sulaymaniyah, Irbil and Mosul, and founded the bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March 2004, and is responsible for the maintenance of price stability and the implementation of monetary policy, including policies, prices exchange and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector.

http://translate.google.com/translate?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.almowatennews.com/news_view_8677.html

[ThePeoplesChamp]

Thanks Chief for relaying the news to us!

GOOO RV!

[jfv]

fantastic article

thx janine

[Butifldrm]

Thanks ChiefV, now lets get the government formally announced.

[Logical1]

Thanks for the post!

[cgbrown]

just what does deleting 3 zeros mean to us?

[Marilyn53]

Much as I tried to make sense of it, I couldn't. The translation is what really gets to me. While seasoned members may know how to read between the lines, it left me in a fog! LOL

[OKLAHOMA]

Glad you ask that CGBrown, i'm ducking waiting for a answer to your question!

[hopefullbk]

just what does deleting 3 zeros mean to us?

Either that your 25,000 dinar note is worth $25......Or more than likely, 1 dinar = .86 cents. I'm not as well versed as others on this topic but the second scenario seems to be the majority opinion for many reasons. We will know soon enough I guess.

[Marilyn53]

Either that your 25,000 dinar note is worth $25......Or more than likely, 1 dinar = .86 cents. I'm not as well versed as others on this topic but the second scenario seems to be the majority opinion for many reasons. We will know soon enough I guess.

So, in other words, all the countries forgive their debt. Then they turn around and make what we've purchased pretty much worthless? Enlightenment needed....please!

[hopefullbk]

So, in other words, all the countries forgive their debt. Then they turn around and make what we've purchased pretty much worthless? Enlightenment needed....please!

Like I said, I'm not well versed on this topic and frankly someone else should be doing the "enlightening". Scenario #2 seems to be the route that most of the versed folks seem to think this will go at a minimum. .86 seems to make sense, which would be a HUGE win for everyone! To be forward, I would be happy with .10 cents. Again, I am not the person you want input from, there are many, many folks that are much better suited for that. Just my rookie 2 cents is all.

[Heli Pilot]

I love this part! - "The Central Bank of Iraq has affirmed its readiness to delete the zeros from the currency after the formation of the government directly." That says that the CBI is ready to pull the trigger!

Combine that with the other articles today about Talabani being ready to sign an agreement with Kuwait regarding the borders so Chapter 7 can be lifted......and that brings us to RV TIME!

[ThankAVet]

For his part, said economic expert on behalf of Jamil Antoine in an interview for "Alsumaria News", "Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar," noting that "the deletion of zeros needed to stabilize the security and political, as well as economic stability.

So this will not happen anytime soon? A few months, a few years?

I love this part! - "The Central Bank of Iraq has affirmed its readiness to delete the zeros from the currency after the formation of the government directly." That says that the CBI is ready to pull the trigger!

Combine that with the other articles today about Talabani being ready to sign an agreement with Kuwait regarding the borders so Chapter 7 can be lifted......and that brings us to RV TIME!

Sure hope your take is correct. But what is this Antoine guy saying about Iraq not being ready yet?

Chief - what say you?

[Serenity]

So, in other words, all the countries forgive their debt. Then they turn around and make what we've purchased pretty much worthless? Enlightenment needed....please!

How do you think the other countries forgave Iraq's debt's? Countries hold dinar in return for debt forgiveness...How do you think the CBI raised its foreign capital reserves? By currency trades with other countries, especially the USA....That's how their dinar was backed till now...THe dinar was made available to us here in the USA....We were supposed to have access to purchasing them....Our dollars backed the dinar and in return, we will get paid and the IRaqi people will prosper....No worries!!! Its a no-brainer!!

[Marilyn53]

How do you think the other countries forgave Iraq's debt's? Countries hold dinar in return for debt forgiveness...How do you think the CBI raised its foreign capital reserves? By currency trades with other countries, especially the USA....That's how their dinar was backed till now...THe dinar was made available to us here in the USA....We were supposed to have access to purchasing them....Our dollars backed the dinar and in return, we will get paid and the IRaqi people will prosper....No worries!!! Its a no-brainer!!

Thank you for your understanding of my lack of understanding and for the clarity of your post! Makes more sense now.

[Booyaa]

Great article. Thanks Chief!

[Serenity]

Thank you for your understanding of my lack of understanding and for the clarity of your post! Makes more sense now.

Your welcome.......................

[4HisGlory]

Keep your faith Rv means revalue It is all a good thing.

Raising the three zeros means removing them from circulation, the value will have to be greater for those that hold big bills to get rid of them!

You just are going to have to do a bit of research....... it can be very deep in attempting to understand it.

We, many of have speculated that it will all work out and IMO it is definitely coming to fruition...........Go RV!!!!!!!

thanks for the post..............

[onerighthand]

Hasn't anybody read Adams book?

Please Please Please Please read it and you will know and understand, thus your worries will be diminished.

[Chief V]

Two sides to this coin due to the google translation and it's fogginess in interpretation, either the .00086 goes to .86 which is good news, or as they "inject" the new smaller denominations without the 3 zeros' on them and continue to withdraw the larger denominations, the value will remain the same 1:1 meaning the 25k note will be worth 25k in smaller denominations. This is also good news. Either way it goes, I'm happy with it. I'll take .86 any day and a 1:1 as well. That's my take on it, as these articles are two sided coins to me, most of us have seen this multiple times, and if you look at the Inflation rate listed on this one it's a redundant article as 3% has been gone for quite a while, I believe they're at 1.6% or 1.7% right now. Definitely no cause for the dreaded "L" word.....lol

Wait and see, whatever the rate comes out as is what we're looking at on the initial cash in.

V

[The Personal Coach]

Thanks for the post. We are beginning to see multiple confirmations on this topic. Woo-hoo!!! :D :D

[bigoz89]

Thanks Chief for posting this and many thanks to mxridermomma for finding this info!

[Fairways&Greens]

This "Secret" is too big to contain. More positive news in greater detail will continue to come out! This thing happening! Thanks CheifV!!!

[romanjarc]

Two sides to this coin due to the google translation and it's fogginess in interpretation, either the .00086 goes to .86 which is good news, or as they "inject" the new smaller denominations without the 3 zeros' on them and continue to withdraw the larger denominations, the value will remain the same 1:1 meaning the 25k note will be worth 25k in smaller denominations. This is also good news. Either way it goes, I'm happy with it. I'll take .86 any day and a 1:1 as well. That's my take on it, as these articles are two sided coins to me, most of us have seen this multiple times, and if you look at the Inflation rate listed on this one it's a redundant article as 3% has been gone for quite a while, I believe they're at 1.6% or 1.7% right now. Definitely no cause for the dreaded "L" word.....lol

Wait and see, whatever the rate comes out as is what we're looking at on the initial cash in.

V

Folks, they can not the currency bills, its the nominal value they are talking about, from .00085 to .85.

[bikertrash]

You know this is what they have been saying all along..................................I sure hope it is not true

The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq Planning Currency Redenomination."

This is fromhttp://www.xe.com/currency/iqd-iraqi-dinar