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Kaperoni 4/25/11 - posted today...


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Don't know who this is (Kaperoni)... Don't know if this has been posted yet or not... I haven't seen it so sorry if it has. I wanted to share with the folks here and get your feedback on what they are saying... I think it's a good read.

April 26,2011

ECB: restructuring Iraqi currency money supply inflation works

This article also has Saleh in audio (right side of article)

Below is the article and my Arabic friends tranlation...Very good read!

ECB: restructuring Iraqi currency money supply inflation works

16.04.2011

Ahmed Al-Zubaidi

Iraqi Central Bank Adviser Dr. Mazhar Mohammed Saleh said the Bank maintained its policy on deleting three zeros from Iraqi dinar currently working.

He said in an interview to radio free Iraq to apply political restructuring Iraqi currency would fix management problems facing the country's money supply inflation of 28 trillion dinars, the currency structure is no longer commensurate with current prices and costs in Iraq.

The Iraqi Central Bank Adviser to the current situation to start this project, which would strengthen the Iraqi economy, but this project should first obtain the consent of the Iraqi Government, which in turn report to the Iraqi Council of representatives for approval.

The proposed deletion of three zeros from the currency has sparked controversy among economists Iraqis highlight differences including on the possible impact on the economic sector, especially if implemented suddenly and rapidly.

This disagreement has led the Economist as Brahimi previously was for years the Economic Adviser to the Iraqi Central Bank to show fear of execution of the project at present despite the completion of all studies on the economic situation is not conducive to that.

The Central Bank Adviser explained the appearance that these fears Muhammad Saleh, Iraq's economic situation is good and capable of carrying this project, and this experience has been applied in countries like Turkey that has six zeros from the currency deleted not long ago.

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Attached audio file translation..

Kap,

For the audio link, they are saying exactly what the article was stating about removing the 3 zeros to reduce the physical money supply and facilitate the transactions and help strengthen economic growth and stability. Saleh from the CBI was interviewed in the link and that is exactly what he said, that the CBI intends to remove the 3 zeros for all the reasons that we are aware of, etc and that it's the CBI's job to control inflation and reduce the money supply, which he currently reports as being 28 trillion Dinars. Then, the report talks about other people, such as economic experts, who support the change in the currency but feel that Iraq is not quite ready for the change in currency, etc and that they need to wait for more economic stability and more private sector development before they bring changes to the currency. The reporter then states that Saleh of the CBI stated that those comments by the economic experts are unfounded and that the Iraqi economy is in excellent shape and can adjust and withstand with no problem a change to the currency and that changing the currency would be for the better. He goes on to say that Saleh of the CBI also said that Turkey recently changed their currency in recent terms by removing 6 zeros from their bills and that it worked out fine and they were able to adjust very quickly with no issues (I checked and the Turkish RV happened in 2005 where in 2004 1 US Dollar equaled about 1,350,000 Lira and in 2005 1 US Dollar was now equal to 1.29 Lira, so they had a LOP and small RV in Turkey). Saleh goes on to say that CBI really doesn't care about all the speculative opinions of the economic experts and whoever wants to be scared of the change can be but that the change for the Dinar is indeed coming soon. Saleh finishes by saying that Iraq is not rushing to RV because they desperately need it to save the economy or something like that, but he says that they will RV/remove the 3 zeros soon because the big currency and low value are no longer suitable to Iraq's economic growth and that system of money with large bills is antiquated and out of practical usability in this day and age.

The audio is promising because it stresses yet again that CBI is planning to RV/Remove the 3 zeros and this time we have it in a live audio recording in a interview, with the CBI actually stating that they will do it soon, and that the info is not just coming from some news article or press release. This time, we have it in direct audio confirmation from the CBI that they are going to RV and RV soon and that they don't care about those who feel the time is not right because they feel it is the most appropriate time to RV. So I think this is excellent. The other stuff we already knew, about the benefits of the RV and why they want to do it. So yet another confirmation that it is going to happen. No Date or Rate, but at this point I don't care so long as they go ahead and just get it done!

http://www.microsofttranslator.com/BV.aspx?ref=IE8Activity&a=http%3A%2F%2Fwww.iraqhurr.org%2Fcontent%2Farticle%2F4746251.html

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.iraqhurr.org%2Faudio%2FAudio%2F306960.html

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Thanks for the post ckh ! The reference to Turkey is interesting since they share a border with Iraq but I think that Iraq wouldn't have to lop first. Jmop.

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I'm so lost with all this, why is this article so glad about the L OP....I thought we would break even with a L op, Doesn't that mean a 25,000 bill becomes 25....But thanks for sharing, and I hope there is more to it then I can see...

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I'm so lost with all this, why is this article so glad about the L OP....I thought we would break even with a L op, Doesn't that mean a 25,000 bill becomes 25....But thanks for sharing, and I hope there is more to it then I can see...

This is one of the things I hoping the generate conversation about.

We need someone to translate to laymen speak...

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Thanks for the post, another validation that things are not going as many have hoped for. Turkey is the perfect example of how Iraq will change. I am reading "Follow Hillarious" on some other posts, we should be instead looking to other countries on how they dealt with redenominating their currency.

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The difference between Iraq and other countries who have rv'd is that Iraq is potentially the richest country in the world with the most sought after commodity on earth- that's a game changer... potentially

Edited by spy
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From what I know about Turkey and their RV, they had rampant inflation at the time. So let's hope that it's apples and oranges with respect to Iraq.

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One thing people are missing is why would they come out and say... Hey we are going to revalue the currency soon so if you want to get a piece of this pie common ! I think this is an attempt to throw off speculators you guys are blinded by your lopaphobia

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The difference between Iraq and other countries who have rv'd is that Iraq is potentially the richest country in the world with the most sought after commodity on earth- that's a game changer... potentially

Spy, I believe that to be the most defining difference between historical comparisons to other countries and the revaluation of their currency. Another intangible and unmeasureable factor is the pride of the Iraqi government. We must remember that the reason for the current low value is because it was an imposed punishment, ostrichcized from the world. We all know that the Iraqis are not stupid. To the contrary, they are very astute and very aware of the black gold they sit on. When they come back, they will come back strong. Go RV baby!

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haha it is not going to LOP get this Sh%^ out of your heads no wayin hell.

EASYRIDER I'M INTO MY 8 TH YEAR WITH THIS INVESTMENT AND I HAVE BEEN SAYING THE SAME THING AS YOU POSTED BUT FOR SOME DARN REASON PEOPLE JUST LOVE THE WORD LOP AND WANT LET IT GO... :lol::lol:

Edited by mrref
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