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Raising three zeros from the nominal value of the Iraqi dinar


syzygy
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After for a long time has become for us to claim the existence of a monetary authority Iraqi enjoy full independence under a special law CBI contains all elements of independence, according to international standards known, and as we followed the arguments of those objecting to the decision to raise three zeroes from the Iraqi dinar value nominal, we have fellowship that say that our arguments as supporters of this resolution. يقدم البعض من المعارضين للقرار بتهكم، غير مقبول موضوعيا، بعض التعاريف التي تعد من بديهيات النظرية النقدية والتي تطرح امام كبار اساتذة النظرية النقدية من صانعي سياسة البنك المركزي من مثل: ان البنك المركزي يستهدف احداث (وهم نقدي) لدى الجمهور وسيستدرج عاطفيا مشاعرهم ازاء الاحساس بتحسن قيمة الدينار اسميا لا حقيقيا، والحق انه ليس لهذه الحجة كبير جدارة بحكم توافر الخبرات العلمية والعملية للكادر المتقدم في المركزي. Provides some of the opponents of the resolution sarcastically, is not acceptable objective, some of the definitions, one of the axioms of monetary theory, which put in front of senior professors monetary theory of policy-makers the central bank, such as: that the central bank aimed at the events (the cash) to the public and Sestdrj emotional feelings about the sense of improvement in nominal value of the dinar is not real, and it is not right for a great merit of this argument by virtue of the availability of scientific expertise and advanced process for staff in the Central.

اننا نرى بام اعيننا نجاحات المركزي بظل اقسى الظروف واكثرها ارتباكا ازاء (تخفيض معدل الزيادة في المستوى العام للاسعار سنويا)، وكانت النية بائنة لدى واضعي السياسة النقدية بوصوله الى مستويات معدل الزيادة الطبيعية، وهذا ايضا يمثل ردا على طرح المعارضين الذين يعتقدون بان من مهام المركزي (ارجاع الاسعار) الى سابق عهد، وهذا ما سيسهم في استقرار المستوى العام للاسعار وبالتالي استقرار النظام النقدي برمته. We see with our own eyes the successes the central shadow of the harshest conditions and most confused about (reducing the rate of increase in the overall level of prices a year), the intention was patently the authors of the monetary policy of his arrival to the levels of the rate of natural increase, and this also represents a response to ask the opponents who believe that the function of the central (return prices) to an earlier era, and this is what will contribute to the stability of the overall level of prices and thus stabilize the monetary system as a whole.

وبذات الحنكة قدم صانعو السياسة النقدية طروحات بمنتهى الموضوعية ازاء موضوع رفع الاصفار الثلاثة عن الدينار العراقي، وبالدليل العلمي لا الوهمي اقنعونا بتوافر النية لاتخاذ هذا القرار الهام والحساس، واننا لنعتقد عن طريق استقراء دقة الكلمات التي يستخدمها المركزي بتقديم التصريحات ازاء ذلك الموضوع، من مثل: اعطاء اشارة مسبقة ابتدائية للجمهور بان البنك ينوي فعل ذلك وسوف لن يباغت احدا، وفي ذلك حكمة مستبطنة يدرك مضامينها ذوو التخصص ويتوجسها رجال الاعمال والاموال ومؤسسات الدولة والاسواق بغية تلافي اي ارباك قد يحدث لو ان المركزي باغت الجمهور بقرار مفاجئ ،ما سيشكل مناخا استباقيا لعدم حدوث اي ارباك في سوق المال او في حركة الالتزامات المتجددة او المستحقات التعاقدية التي كانت ستعقد بين الاطراف، او بالاقل محاولة التخفيف من حدتها فيما لو حدثت في اطار رؤية واعية تدرك بان سياسة نقدية لمدى زمني متوسط وبعيد لابد وان تكون تحت ضغط عدم اليقين. In the same skill made makers of monetary policy proposals with the utmost objectivity regarding the issue of raising the three zeroes from the Iraqi dinar, and the scientific evidence does not placebo Aguenona the availability of the intention to take this important resolution and sensitive, and we believe that by extrapolating the accuracy of the words used by the Central to provide comments about this subject, such as: give a signal pre-primary to the public that the Bank intends to do so and will not startles one, and in that wisdom dente aware of its implications those with specialization and Itojsha business and money, state institutions and markets in order to avoid any confusion may occur if the central startle the public the decision of the sudden, what would climate proactive the absence of an any confusion in the capital market or in the movement of the renewed commitments or contractual receivables, which was held between the parties, or with less try to mitigate as if there were, in the framework of the vision and consciously aware that the monetary policy for the time-average and far must have been under pressure from uncertainty.

اكد خبراء المركزي بان عملية احلال العملة الجديدة محل رديفتها القديمة سوف يكون في سياق (ستراتيجية تدريجية بعيدة الامد)، بحيث يسمح بتعايش كلتا العملتين في سياق بديع يتيح احلال ناعم لعملة جديدة محل قديمة بما لا يربك بأثر صادم قوى التفاعل في الاسواق المالية او الحقيقة بل ان من المؤمل ان يسهم ذلك الاحلال الرومانسي باحلال مماثل لمشاعر الناس ازاء هيبة عملتهم الوطنية والتي تعد من رموز السيادة. Experts said the Central that the process of bringing new currency to replace the corollary old will be in the context of (strategic gradual long-term), so as to allow the coexistence of both currencies in the context of adorable lets bring fine coin replaced by a new old as not to embarrass the impact of traumatic forces of interaction in the financial markets or the truth, but it is hoped that this will contribute to bringing a similar replacement for the romantic feelings of the people about the prestige of the national currency, which is one of the symbols of sovereignty. ولنا ان نستذكر التشبت المستميت للاوربيين بعملاتهم الوطنية وعملة اليورو على الرغم من انهم كانوا بمدرك من جدوى توحيد العملات اقتصاديا، فما بالنا بالمركزي الذي يستحق كل تأييد لو كان فقط يريد ان يجري ذلك الاحلال بمشاعر الجمهور ازاء هيبة العملة؟ We recall that the Europeans desperate Alchpt Bamlathm national currency and euro even though they were Bmdrick the usefulness of the economic unification of the currency, let alone the CBE board who deserves all the support if he just wants to hold the replacement public feelings about the prestige of the currency? ان ذلك لوحده جدير بوافر احترام. That alone is worth cordial respect.

ان رفع الاصفار سيؤدي – من بين ما يؤدي – الى تسليط الضغط الكابت لتضخم الكتلة النقدية مع استذكار التعامل بالعملات النقدية المعدنية التي حرم الجمهور لردحا من الزمان من التعامل معها، بعد ان كنا كجمهور نخجل من عملتنا الوطنية اذ نذهب بمعية اكياس من الورق لشراء كم متواضع من السلع، كما ان ذلك لابد ان يسهم في الغاء جزء من هامش التضخم الذي نجم عن تلك الكتلة وان كان محدودا، وهنا ستقل بالحتم كلف المعاملات وتتحسن حركتها بعد ان تستقر لزمن ما. The lifting of the zeroes will - among other things, cause - to put pressure suppresses the inflation of the cash block with recall dealing in coins, which deprived the public for a certain length of time to deal with it, after that we were Kjmhor ashamed of our national currency as we go together with bags of paper to buy how modest of goods, as it must contribute to the cancellation of part of the margin of the inflation that resulted from that block and has been limited, and here will be less inevitably cost of transactions and improve movement, after settling for what time.

سيكون للمركزي دور مؤرخ لو عزز (دونرة التعاملات الاقتصادية) ان جاز التعبير واحلها محل ظاهرة (الدولرة) مزعجة التأثير النفسي والعملي، ولن ينساق المركزي بجدارة استقلاليته الى مآرب المالية وموازنة الدولة العامة التي ترغب سايكولوجيا، كما يشير لذلك الاستاذ الدكتور مظهر محمد صالح والذي يعد من كبار خبراء المركزي واستاذ النظرية النقدية البارع بانخفاض سعر صرف الدينار للاستحواذ على تمويل اكبر، وأمر طبيعي ان تتناقض نوايا المالية مع نوايا المركزي في بعض الاحيان، اذ ان المركزي يسعى على الدوام الى الحفاظ على سعر صرف الدينار واستقرار الاقتصاد، وانه على ادراك بماهية النتائج التي ستترتب على سعيه الطيب الى تحسين سعر الصرف لاحقا. Will have a central role of the historian if promoted (Donrp economic transactions) so to speak and Ahlha replace phenomenon (Dollar) disturbing psychological impact and practical, will not be swayed by the central deserved independence to the ends of Finance and the state budget that you want to psychology, as indicated by Professor Dr. appearance of Mohammed Saleh, who is senior experts of the Central and professor of Critical Theory Able down the exchange rate of the dinar to acquire more funds, and it is natural that contradict the intentions of Finance with the intentions of the central Sometimes, as the Central always sought to maintain the dinar's exchange rate and stabilize the economy, and that to understand the Bmahep results which would have good on his quest to improve the exchange rate later. وليس لنا الا أن نذكر بمشروعية السلطات النقدية العراقية بحجب اموال خزينة المركزي عن الحكومة، اذ ان ليس من وظائفه تمويل النمو على نحو مباشر بل ان ذلك يعد من صميم وظائف المالية. And we can only mention the legitimacy of the Iraqi monetary authorities to withhold money from the treasury of the Central Government, as that is not functioning and financing growth directly, but it is one of the core functions of Finance.

لقد استخدم المركزي بفطنة اشارات اسعار الصرف كاداة نقدية لكبح نمو معدلات التضخم وبالتالي اماتتة لتاجيج التوقعات التي تؤدي الى ارباك التعاملات والاسواق، ليضيف المركزي انجازاً احلاليا جديدا، اذ تحل حاضنة الاستقرار بثالوثها المعروف (تحسن قيمة الدينار بعد استقراره – تحسن سعر الصرف بعد استقراره – كبح معدلات النمو في المستوى العام للاسعار انى توفرت الفرصة) محل حاضنة المضاربة التضخمية وليحل تلقائيا الاستثمار الحقيقي محل الاستثمار المالي المضارب. I have used the central wisdom signals exchange rate as an instrument of cash to curb the growth rates of inflation and therefore Amataatp to fuel expectations that lead to stagger trading and markets, to add the central achievement Ahlalia new, as it resolved a foster stability Bthalutha known (improved value of the dinar after stability - improved exchange rate after stability - Curb growth rates in the general level of prices, I had the opportunity) would replace an incubator speculative and inflationary automatically solve the real investment for investment financial speculator.

وهكذا سيتم بجدارة تغيير نظام ادارة العملة ونظام المدفوعات بآلية هادئة ناعمة موضوعية تتوجس المضاربين وتنسجم اي انسجام مع التوجهات الاقتصادية بل والسياسية الجديدة التي يقرها الدستور بمقتضيات اقتصاد السوق واستقلالية المركزي التي ما كانت لتكون لولا تغييرسياسي شاءت الاقدار حدوثه ولد تلك الفرصة الذهبية. And so will be well-deserved change the management system of currency and payment system mechanism for quiet smooth objective wary speculators and fit any harmony with the economic trends but also new political and approved by the constitutional requirements of a market economy and the independence of the Central which was to be not for Tgierssayas Fate happen weld those golden opportunity.

وبنهاية القول نشير الى ان لكل قرار بدائل تتنافس ولن يكون لاحد من حق لحرمان المركزي وادارته العليا من اختيار القرار البديل الأقل كلفة. By the end note to say that the alternatives for each decision will not be competing for one of the right to deny the central and its senior management to choose the least expensive alternative resolution.

* كاتب اقتصادي * Economic writer

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Just woke up to my wife coming home from midnight madness shopping and I am not fully awake, but if I am reading this right, much of what we hoped for from the RV is going to be reality. There are some very intersting parts of this article that I think should be analyzed more carefully.

Great Find!!

made it a little easier to read by removing the arabic

D. Ahmed Al-Wazzan: Raising three zeros from the nominal value of the Iraqi dinar

After for a long time has become for us to claim the existence of a monetary authority Iraqi enjoy full independence under a special law CBI contains all elements of independence, according to international standards known, and as we followed the arguments of those objecting to the decision to raise three zeroes from the Iraqi dinar value nominal, we have fellowship that say that our arguments as supporters of this resolution.

Provides some of the opponents of the resolution sarcastically, is not acceptable objective, some of the definitions, one of the axioms of monetary theory, which put in front of senior professors monetary theory of policy-makers the central bank, such as: that the central bank aimed at the events (the cash) to the public and Sestdrj emotional feelings about the sense of improvement in nominal value of the dinar is not real, and it is not right for a great merit of this argument by virtue of the availability of scientific expertise and advanced process for staff in the Central.

We see with our own eyes the successes the central shadow of the harshest conditions and most confused about (reducing the rate of increase in the overall level of prices a year), the intention was patently the authors of the monetary policy of his arrival to the levels of the rate of natural increase, and this also represents a response to ask the opponents who believe that the function of the central (return prices) to an earlier era, and this is what will contribute to the stability of the overall level of prices and thus stabilize the monetary system as a whole.

In the same skill made makers of monetary policy proposals with the utmost objectivity regarding the issue of raising the three zeroes from the Iraqi dinar, and the scientific evidence does not placebo Aguenona the availability of the intention to take this important resolution and sensitive, and we believe that by extrapolating the accuracy of the words used by the Central to provide comments about this subject, such as: give a signal pre-primary to the public that the Bank intends to do so and will not startles one, and in that wisdom dente aware of its implications those with specialization and Itojsha business and money, state institutions and markets in order to avoid any confusion may occur if the central startle the public the decision of the sudden, what would climate proactive the absence of an any confusion in the capital market or in the movement of the renewed commitments or contractual receivables, which was held between the parties, or with less try to mitigate as if there were, in the framework of the vision and consciously aware that the monetary policy for the time-average and far must have been under pressure from uncertainty.

Experts said the Central that the process of bringing new currency to replace the corollary old will be in the context of (strategic gradual long-term), so as to allow the coexistence of both currencies in the context of adorable lets bring fine coin replaced by a new old as not to embarrass the impact of traumatic forces of interaction in the financial markets or the truth, but it is hoped that this will contribute to bringing a similar replacement for the romantic feelings of the people about the prestige of the national currency, which is one of the symbols of sovereignty. We recall that the Europeans desperate Alchpt Bamlathm national currency and euro even though they were Bmdrick the usefulness of the economic unification of the currency, let alone the CBE board who deserves all the support if he just wants to hold the replacement public feelings about the prestige of the currency? That alone is worth cordial respect.

The lifting of the zeroes will - among other things, cause - to put pressure suppresses the inflation of the cash block with recall dealing in coins, which deprived the public for a certain length of time to deal with it, after that we were Kjmhor ashamed of our national currency as we go together with bags of paper to buy how modest of goods, as it must contribute to the cancellation of part of the margin of the inflation that resulted from that block and has been limited, and here will be less inevitably cost of transactions and improve movement, after settling for what time.

Will have a central role of the historian if promoted (Donrp economic transactions) so to speak and Ahlha replace phenomenon (Dollar) disturbing psychological impact and practical, will not be swayed by the central deserved independence to the ends of Finance and the state budget that you want to psychology, as indicated by Professor Dr. appearance of Mohammed Saleh, who is senior experts of the Central and professor of Critical Theory Able down the exchange rate of the dinar to acquire more funds, and it is natural that contradict the intentions of Finance with the intentions of the central Sometimes, as the Central always sought to maintain the dinar's exchange rate and stabilize the economy, and that to understand the Bmahep results which would have good on his quest to improve the exchange rate later. And we can only mention the legitimacy of the Iraqi monetary authorities to withhold money from the treasury of the Central Government, as that is not functioning and financing growth directly, but it is one of the core functions of Finance.

I have used the central wisdom signals exchange rate as an instrument of cash to curb the growth rates of inflation and therefore Amataatp to fuel expectations that lead to stagger trading and markets, to add the central achievement Ahlalia new, as it resolved a foster stability Bthalutha known (improved value of the dinar after stability - improved exchange rate after stability - Curb growth rates in the general level of prices, I had the opportunity) would replace an incubator speculative and inflationary automatically solve the real investment for investment financial speculator.

And so will be well-deserved change the management system of currency and payment system mechanism for quiet smooth objective wary speculators and fit any harmony with the economic trends but also new political and approved by the constitutional requirements of a market economy and the independence of the Central which was to be not for Tgierssayas Fate happen weld those golden opportunity.

By the end note to say that the alternatives for each decision will not be competing for one of the right to deny the central and its senior management to choose the least expensive alternative resolution.

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I know this is a great find!!! Surprised more people on the forum did not comment on this article. I think if the article is long people do not want to read it. But if this article is correct and accurate, this does tell a lot. It looks like this article may be from April 13, 2010.

What I get out of it is that they tell you here that the exchange rate has been stable and steady and increases as growth increases- this is something Iraqi's and IMF are proud of and I have stated this before as I have been doing my own research. I found that information in IMF docs from January 2010 and September 2010 that does match what they are stating here. It looks like they are contemplating now to see which would be better to revalue the dinar LATER by suggestions of the ministry of finance and Dr. Mohammed Saleh or continue as they have been- letting it naturally increase. It states this at the very end of the article:

By the end note to say that the alternatives for each decision will not be competing for one of the right to deny the central and its senior management to choose the least expensive alternative resolution. (Remember, this article looks like it was April of this year)

So, in my opinion, going against what the gurus state, Iraq continues to do what they want and what they feel is the best thing. Pressure means nothing to them. We keep hearing the gurus all along state- "it has to happen", "they have no choice but to get it done", "it has to happen in feb, march, april, may , june, july, ect. ect. ect. Bla, bla, bla!! It does not! This article and other articles show you that things are moving along in Iraqi time, and by their decicions, not IMF, not economists, not ours!!! They will make the final choices and on their own sweet, slow time. This article also tells us something different than what we keep hearing- there is obviously not a rv set up and ready to go for months now! Not saying that Iraq will not chose to do so LATER or continue to let exchange rate to grow naturally as they have been doing, but according to this, if accurate, it was not even in the works in April of this year.

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I think that what I am reading is positive...but I am not very good a deciphering "Yoda" English. Perhaps there is someone who could help clarify this article?

IF so...Thanks.

The language is so backwards, so maybe I am not getting the correct meaning. I want an RV, not trying to bash, just making opinions on what I have found and what I took this article to mean. Agree, if anyone can decipher , please share...

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I think this article is very positive. It sounds like they are telling the Iraqi people that the RV is coming. While I was reading I was hoping to read a date that the lower denominations would be released. Maybe "soon"...

soon ...... :lol: Thanks for the post syzygy!! Good stuff. GO RV in 2010!!!

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The language is so backwards, so maybe I am not getting the correct meaning. I want an RV, not trying to bash, just making opinions on what I have found and what I took this article to mean. Agree, if anyone can decipher , please share...

Well, what I got out of this difficult article is that the money is "adorable" and the people "feel romantic" (see below):

"coexistence of both currencies in the context of adorable lets bring fine coin replaced by a new old as not to embarrass the impact of traumatic forces of interaction in the financial markets or the truth, but it is hoped that this will contribute to bringing a similar replacement for the romantic feelings of the people about the prestige of the national currency, which is one of the symbols of sovereign"

Seriously, though, this is what I'm hanging my hat on: in the conference call of November 25, 2010, with zzzzzzzzz and SteveI, Steve said that this past fall, his company as asked to rewrite their multi-million dollar contract from USD to IQD. When they did, the rate converted to $3.22.

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Well, what I got out of this difficult article is that the money is "adorable" and the people "feel romantic" (see below):

"coexistence of both currencies in the context of adorable lets bring fine coin replaced by a new old as not to embarrass the impact of traumatic forces of interaction in the financial markets or the truth, but it is hoped that this will contribute to bringing a similar replacement for the romantic feelings of the people about the prestige of the national currency, which is one of the symbols of sovereign"

Seriously, though, this is what I'm hanging my hat on: in the conference call of November 25, 2010, with zzzzzzzzz and SteveI, Steve said that this past fall, his company as asked to rewrite their multi-million dollar contract from USD to IQD. When they did, the rate converted to $3.22.

I heard that as well on the CC. Check stated that there was absolutely no way possible it will be lower than 3.22 because that was the base rate. It can go higher, but not lower. When I first started this ride, I heard rumors of 3.21, so I don't know if that is true or not.

Does anyone know if the IMF sets that base rate of 3.22 for a RV for all countries?

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I heard that as well on the CC. Check stated that there was absolutely no way possible it will be lower than 3.22 because that was the base rate. It can go higher, but not lower. When I first started this ride, I heard rumors of 3.21, so I don't know if that is true or not.

Does anyone know if the IMF sets that base rate of 3.22 for a RV for all countries?

Yep, I concur because I was on the call when Steve said that too. Even before what Steve said, I have always said that the rate will be at least $3.21.

We shall see.....

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