Warka and 3 zeros

[Traveler12]

My CD's at Warka just matured and I e-mailed for my balance and to open new CD's. I ask Mr. Issa how the raising of 3 zero's would effect the balances of Warka depositors and ISX investors. Of course, he was vague as they are not allowed to comment on what the CBI/parliment is doing until it is official and they have been notified by CBI. He said IF regarding raising 3 zeros but specifically said WHEN regarding a revalue.

The other thing that was clear is, as he is pointing out in a round about way, is that private banks and ISX accounts carry dinar value out to three places. ie: my account balance is XXXXXXXX.194.

IMO from reading his e-mail it is clear that the CBI and private banks care nothing about speculators. They do nothing for the banks so the bank care little about how their speculation turns out. I don't think the CBI ever wanted dinars outside the ME until they were ready to go international.

This is about value, not quantity. A 25,000 IQD note x .0086 is $21.50. 25 dinar note x .86 is $21.50. However when it comes to raising 3 zeros then revalue at 1:1 that $21.50 becomes $25.00. Certainly not the $25,000 speculators had hoped for. If anyone believed that an investment of about 1/10 of a cent ($1220 for 1000000 IQD) was going to become $25,000 you must spend a lot of time chasing rainbows for the pot of gold at the end.

It appears that depositors and investors will likely dodge the bullet on the 3 zeros thing and be rewarded.

[muydinar]

moron!

[HYDRANT]

CAN YOU POST THE E-MAIL SO WE CAN MAKE OUR OWN COMMENTS ON IT.

[OhYeah]

"The other thing that was clear is, as he is pointing out in a round about way, "

ummmmmm, thanks for your input but your thought process made me dizzy

[wgb52]

Wow! Your CD's are maturing and you are just joining this site now? You state that the private banks "care nothing" about the speculators? Those speculator deposits are the life blood of their business!

[MSgt of Marines]

so let me get this strait. you have a six figure cd with warka and you can even put a sentence together so that it can be understood?

the sad thing about a liar is that they actually believe it themselfs.

That person needs to be put in a padded room before he/she hurts themselves

[War Eagle]

He claims that "the CBI never wanted the dinars to be outside of Iraq"----------------------------------who in the world does he think BOUGHT the dinars in the first place????????????????The Iraqi citizens certainly did NOT have the money to buy them!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!A single note cost the CBI 9 cents to print------------and just look at what they sold them for----this is what gave the CBI their money to operate on,and allowed them to build up their reserves!!!!!!!!!!!!!!!!!

[Dandy1]

If anyone believed that an investment of about 1/10 of a cent ($1220 for 1000000 IQD) was going to become $25,000 you must spend a lot of time chasing rainbows for the pot of gold at the end.

My favorite passtime is chasing tornados and rainbows.

Edited April 17, 2011 by Dandy1

[one4dinar]

1. Iraqi Stock Exchange is not afraid of a plan for the abolition of 3 zeros from the dinar

. Assured the Chairman of the Securities Abdul Razzaq al-Sa'di holders of shares in companies traded on the Iraqi Stock Exchange on the future of their investments in case the implementation of a government decision to cancel three zeros from Iraqi dinar.

Saadi said that the deletion of zeros from the Iraqi currency will not affect the stock market and trading in its shares, pointing out that this issue is «do not worry in the stock, it is just an organizational issue». Coincided assurances Saadi, with clarifications provided by Advisor Central Bank of Iraq the appearance of Mohammed on the subject, it stressed that the cancellation of zeros from currency is a national project strategically to reform the system of currency Iraqi and needs to be discussion between the bank and the next government, stressing that the move would not adversely affect the citizens, but will facilitate the exchange system and currency bank deposit and withdrawal, and «we are a country that does not deal cards, drag-and-only cash», he said, adding that «the mass current cash is« the product of stage of inflation experienced by Iraq 20 years ago, which is not the product of real economic development, but the result of loans and financing and inflation in the the general budget ».

». He said the Executive Director of the Association of Iraqi private banks Abdul Aziz Hassoun told «life», that the intention of the Central Bank of the deletion of three zeroes from the national currency requires careful consideration, in order to avoid chaos and confusion in the commercial market, in the absence of capabilities required to implement the decision, which aims to get rid of the cash block large that are being handled now, and that increased to 27 trillion dinars, and led to problems for many in the trading banks, pointing out that the implementation of the resolution requires the availability of a sufficient number of banks and their subsidiaries to undertake to facilitate the implementation process, while considered among the Academy delete the zeros move towards an increase in the national currency, instead of dealing in foreign currencies, especially the dollar, asserting that such a decision «means added strength of the Iraqi dinar.

Sorry, from another forum source, no link.

[War Eagle]

And if Warka (or any other bank in Iraq)) were to "lop" the currency,there would be a lof of upset Iraqis; and if they only did it to the foreign accounts,you can just imagine the problems that would cause (just remember,foreign companies doing business in Iraq use the banks)!!!!!!.

[hoosier1470]

I'd like to know what planet this person came from...obviously they have no idea what they are even talking about....more than likely does not have a Warka account, dinar, or invested in ISX.....JMO

[speculatorsRIDE]

Traveler 12 please copy and paste the email response to the thread. It is really easy to do. We are speculators and would love to speculate as to the meaning of Warka bank reps response. Your interpretation of their response doesn't really help us much. I am anxious to see this and will be patiently waiting here. Thank you for taking the initiative to email them. A response from them directly is exactly the type of intel we are looking for.

[MovieMaker]

Original Email please?

[NOT2SHABI]

I often thought about becoming a golf club

[Islandgirl7]

1. Iraqi Stock Exchange is not afraid of a plan for the abolition of 3 zeros from the dinar

. Assured the Chairman of the Securities Abdul Razzaq al-Sa'di holders of shares in companies traded on the Iraqi Stock Exchange on the future of their investments in case the implementation of a government decision to cancel three zeros from Iraqi dinar.

Saadi said that the deletion of zeros from the Iraqi currency will not affect the stock market and trading in its shares, pointing out that this issue is «do not worry in the stock, it is just an organizational issue». Coincided assurances Saadi, with clarifications provided by Advisor Central Bank of Iraq the appearance of Mohammed on the subject, it stressed that the cancellation of zeros from currency is a national project strategically to reform the system of currency Iraqi and needs to be discussion between the bank and the next government, stressing that the move would not adversely affect the citizens, but will facilitate the exchange system and currency bank deposit and withdrawal, and «we are a country that does not deal cards, drag-and-only cash», he said, adding that «the mass current cash is« the product of stage of inflation experienced by Iraq 20 years ago, which is not the product of real economic development, but the result of loans and financing and inflation in the the general budget ».

». He said the Executive Director of the Association of Iraqi private banks Abdul Aziz Hassoun told «life», that the intention of the Central Bank of the deletion of three zeroes from the national currency requires careful consideration, in order to avoid chaos and confusion in the commercial market, in the absence of capabilities required to implement the decision, which aims to get rid of the cash block large that are being handled now, and that increased to 27 trillion dinars, and led to problems for many in the trading banks, pointing out that the implementation of the resolution requires the availability of a sufficient number of banks and their subsidiaries to undertake to facilitate the implementation process, while considered among the Academy delete the zeros move towards an increase in the national currency, instead of dealing in foreign currencies, especially the dollar, asserting that such a decision «means added strength of the Iraqi dinar.

Sorry, from another forum source, no link.

Would you mind giving your opinion on this article...CaptainRon601 forwarded this to me earlier and I wouldn't mind getting it in laymans terms...Thx Feel free to PM me if you don't want to put yourself out here...

[oneremedy]

This makes no sense to me.

[Traveler12]

Wow! Your CD's are maturing and you are just joining this site now? You state that the private banks "care nothing" about the speculators? Those speculator deposits are the life blood of their business!

Yeah I don't waste my time posting on these sites. I read and keep my mouth shut. I thought this site was better and something a little different. My mistake!

By speculators, I am referring to those who buy physical notes from guys like Ali and just sit on them. Most speculators don't have accounts! Yes I have a nice account with Warka. Med opened my account for me in 2005.

You wonder why folks only read these sites, laugh and never post....can't put a sentence together...moron.... liar...why would I bother to post anything else on this site. Do your own research. I am sure some of you are serious but how do you put up with jerks here.

Mods you can delete my posts if you like.

Good bye!

[izzy tennis]

["]b]SOUNDS EXCELLENT! How do i transfer monies into my Warka Bank account??????????????? IS it hard? Do you think if LOPS that it will affect our Bank Account Balance as well?Thanks Izzy?[/b]

[/b]

My CD's at Warka just matured and I e-mailed for my balance and to open new CD's. I ask Mr. Issa how the raising of 3 zero's would effect the balances of Warka depositors and ISX investors. Of course, he was vague as they are not allowed to comment on what the CBI/parliment is doing until it is official and they have been notified by CBI. He said IF regarding raising 3 zeros but specifically said WHEN regarding a revalue.

The other thing that was clear is, as he is pointing out in a round about way, is that private banks and ISX accounts carry dinar value out to three places. ie: my account balance is XXXXXXXX.194.

IMO from reading his e-mail it is clear that the CBI and private banks care nothing about speculators. They do nothing for the banks so the bank care little about how their speculation turns out. I don't think the CBI ever wanted dinars outside the ME until they were ready to go international.

This is about value, not quantity. A 25,000 IQD note x .0086 is $21.50. 25 dinar note x .86 is $21.50. However when it comes to raising 3 zeros then revalue at 1:1 that $21.50 becomes $25.00. Certainly not the $25,000 speculators had hoped for. If anyone believed that an investment of about 1/10 of a cent ($1220 for 1000000 IQD) was going to become $25,000 you must spend a lot of time chasing rainbows for the pot of gold at the end.

It appears that depositors and investors will likely dodge the bullet on the 3 zeros thing and be rewarded.

[kat2011]

My CD's at Warka just matured and I e-mailed for my balance and to open new CD's. I ask Mr. Issa how the raising of 3 zero's would effect the balances of Warka depositors and ISX investors. Of course, he was vague as they are not allowed to comment on what the CBI/parliment is doing until it is official and they have been notified by CBI. He said IF regarding raising 3 zeros but specifically said WHEN regarding a revalue.

The other thing that was clear is, as he is pointing out in a round about way, is that private banks and ISX accounts carry dinar value out to three places. ie: my account balance is XXXXXXXX.194.

IMO from reading his e-mail it is clear that the CBI and private banks care nothing about speculators. They do nothing for the banks so the bank care little about how their speculation turns out. I don't think the CBI ever wanted dinars outside the ME until they were ready to go international.

This is about value, not quantity. A 25,000 IQD note x .0086 is $21.50. 25 dinar note x .86 is $21.50. However when it comes to raising 3 zeros then revalue at 1:1 that $21.50 becomes $25.00. Certainly not the $25,000 speculators had hoped for. If anyone believed that an investment of about 1/10 of a cent ($1220 for 1000000 IQD) was going to become $25,000 you must spend a lot of time chasing rainbows for the pot of gold at the end.

It appears that depositors and investors will likely dodge the bullet on the 3 zeros thing and be rewarded.

I believe that a 25000 IQD note X .0086 is $215.00. 25000 IQD note X .00086 is $21.50. Correct my calculator if I am wrong.

[aliciadogz]

Why don't you just get negative somewhere else!!!!! GO RV !!!!!!!!!