RV NEWS

[Biker]

Labels: Poof - May 8

Revaluation of the Iraqi Dinar to the former rate of $3.33 .. Sounds Great ...

Links - Iraq's Currency and Monetary Policy - "Remove Zeros" ...

08/05/2011

Delete the three zeroes from the Iraqi currency

From time to time ask the CBI idea of ​​raising three zeros from the Iraqi currency, and announced that he is nearing completion on finalizing the drafting of the law to regulate the process of lifting to be sent to the Council of the Prime Minister and then to the House of Representatives to decide whether there is a need to raise three zeroes from the Iraqi currency or not, as was confirmed a senior official at the Monetary Authority that the Council of Representatives is the author of the recent decision in this regard.

Adviser says the Iraqi Central Bank: The project will organize a mechanism for lifting the three zeroes for the advancement of the value of local currency in circulation economic, external and internal , and the project was considered a strategic project aimed at reducing inflation suffered by the Iraqi market, The Ministry of Finance announced last February 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 World Bank Fund.

We believe that the project raise three zeroes from the Iraqi currency is the glory and not raise the value of the Iraqi dinar and will add when applied to the problem of several other dimensions to the many problems that afflict the Iraqi economy deteriorating, and this problem is the confusion and disorganization of the market in buying and selling and debt among the citizens, as well as confusion mental state that will plague the Iraqi people as a result of the emergence of a new phenomenon requires the intellectual and psychological stress of the back and accepted.

On the other hand requires the project and before applying Stamping small denominations of the currency represents parts of the dinar, which will be worth a penny, note that the SEC this small change would cost the state large sums of money, then the project does not enhance the value of the Iraqi dinar ((says the Ministry of Finance)) where it will remain worth as it is ((if offered equal amounts of other equal results are equal)).

In a statement different from the Iraqi Central Bank that the process of removing three zeroes from the local currency is a complex process and need to study the economic extensive, also pointed adviser to the CBI we have to deal with this issue cautiously and carefully as it may cause economic problems in the event of rush or do any Another thing confusing economic situation in Iraq.

And we say to guard and to pay the occurrence of such problems, see better and more useful to put the project on Iraqi public opinion with an invitation for specialists in economics to indicate their opinion and familiarity with it before sending it to the prime minister and parliament.

And promises to start see the futility of the project - as we believe - it does not lead to raise the value of the Iraqi dinar, we aspire to adopt the CBI and economists project that aims to raise the value of the Iraqi dinar to its previous value to return is equal to (3.33) U.S. $ through a package of measures and bold decisions, the first review of the operation import wrong and reduced to the extent necessities, as the import open wide to drain the excess foreign currency and deposited with the Central Bank of Iraq in support of the Iraqi currency, and not put up for sale through auction for those wishing to by the Iraqi traders to cover Astiradathm of goods, as well as the review in order to reduce public expenditure to the State and its departments in regards to import furniture is expensive, they can be obtained from the local market, which encourages and supports the sector of local industry and create jobs for the unemployed, also support the development of the agriculture sector by helping farmers with seeds and agricultural machinery in order to increase production of agricultural crops.

There are also other things to support the Iraqi currency, including: reducing operations Aliivadat staff and make it only for the purpose of training and development.

http://www.babnews.com/inp/view.asp?ID=38753

Posted by Kel at 5/08/2011 02:28:00 PM Labels

[speculatorsRIDE]

Looks to me they want a rate of $3.33. They only have to decide if they want to lop or not. Anyone else have a take on this?

[keepmwlknfny]

LOP + RV = $3.33

[leola]

GO FOR IT ,,,,NO LOP,,,,,,MAKE IT SO,,,,$3:33,,,,I LOVE IT

[Ateam]

Keep - why do you think LOP right away? I have been thinking this too lately but I hope you are wrong.

[umbertino]

LOP + RV = $3.33

Granted I can do nothing about it IF that's the case..... Am I allowed to say I don't like it? I'd rather a 0.25 rate and NO LOP...Thanks.

[RicknSaudi]

Keeps' just planning for the worst while hoping for the best....

[Butifldrm]

No Lop! RV $3.33. Great Find . Thanks for the post

[WorkerBee]

Well so far it's the only thing that fits the "raise three zeros" articles, unless your in the camp of smoke and mirrors. So who knows. I'm hoping for the best. I want an RV!!!

[easyrider]

hmm things are starting to get real interesting heres hoping for no LOP.

[Dianne]

Please no lop!!!

[keepmwlknfny]

Keep - why do you think LOP right away? I have been thinking this too lately but I hope you are wrong.

Cause they are talking about removing the zeros.....I hope it gets shut down in parliment too but thats the only way we would see such a large jump in the rate......almost everytime in the past when they talk about removing the zeros they mention either the inflated money supply or using Turkey as an example to follow....so you put all that together and unfortunately a lop/redenomination is what it points too.......

[leola]

GO FOR IT ,,,,NO LOP,,,,,,MAKE IT SO,,,,$3:33,,,,I LOVE IT

come on iraq,,,,have some cubes,,,,,we need the dough....

Edited May 9, 2011 by leola

[bales130]

Hard to understand from the translation. I see were you could get lop or no lop out of this article, very confusing. Need someone who is smarter than me to figure it out.

[keepmwlknfny]

Granted I can do nothing about it IF that's the case..... Am I allowed to say I don't like it? I'd rather a 0.25 rate and NO LOP...Thanks.

Yep.... LOL and I will say I dont like it either.....Id much rather get 25 cents or even 10 cents.....

[prykdev]

Yes, you read it wrong. I hate to tell you, but..... blind speculation is fruitless.

[jaykay]

LOP + RV = $3.33

Dude you cant get of the LOP..You need to by a white tshirt and put LOP on it with big black letters and use as your profile pic..

[Psych]

There is a "re-translation" on a certain "Dinar Fathers" website. Makes it a bit clearer, but I can't vouch for its reliability

[eddiemac]

LOP + RV = $3.33 Yep that will = crap , might make a couple grand till tax man gets ya................

[M.D.]

I would rather the VALUE would be $3.33 rather than the RATE

[leola]

HEELL,,,,LET IRAQ STEP UP TO THE PLATE,,,,,WE HAVE BEEN WAITING A LONG TIME.....GIVE US THE FULL LOAD $3:33 ,,,AND NO LOP ,,,,WHY NOT ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~!!!!!!!!!!!!!!!!!!!!!!!!!!!!! PIPE DOWN YOU NAY SAYERS THEY MAY BE LISTENING...........................

Edited May 9, 2011 by leola

[detroitjazzman]

Keep - why do you think LOP right away? I have been thinking this too lately but I hope you are wrong.

Common now. Keep is the in house lopologist. leave him alone. he has had some good points, although my neighbors say this is not what they mean.. Who knows......shoot for all I know its anyone's guess. That being said, everyone's opinion is as valid and anyone's. Peace

[Biker]

Well if they lop the bad thing is the paper aint even good enough to wipe your Butt on. so we lose all the way around.

[speculatorsRIDE]

Opinion pulled from another site:

RETRANSLATION

From time to time the Central Bank has raised the idea of “removing the three zeros” and it has completed a draft law which will regulate the process of “removing the three zeros” from the Iraqi currency. The law has been sent to the Cabinet Council and then to the Parliamentary House to decide whether there is a need to “remove the three zeros” from the currency. At this time the Parliament is in the final decision making process in this regard. [because the House has the bill it is completed and has been through the Cabinet already.]

This project of “removing the three zeros” has been organized by the Central Bank of Iraq in order to advance the external and internal economic situation in the country and to lead to the advancement of the local currency in circulation in the country. The Ministry of Finance announced that the inflation which Iraq had suffered from in the past is no long a concern. The “removal of the three zeros” will free the Iraqi economy for future growth and will enhance the value of the Iraqi Dinar in the World Bank Fund.

The ministry is aware that the “removing of the three zeros” may add some other multidimensional problems that could make the economy of Iraq deteriorate due to confusion and clutter in the market by buyers and sellers which may haunt the citizens as they deal with the psychological stress that may come from familiarizing themselves with and accepting the new currency.

On the other hand the process is now necessary since the introduction of the small denominated notes would be worth pennies if the value of the Iraqi Dinar was not at the same time raised.

And in contrast to this the Iraqi Central Bank stated that the process of “removing the three zeros” from the local currency is a complex process which has required extensive economic study; also the Central Bank advisor said that we have to deal with this issue with caution because it may cause premature economic problems that we need to avoid.

He added that the CBI felt they were being conservative when they avoided these problems by putting the project in front of the Iraqi public in advance and by inviting competent persons in the economics field to become familiar with the process prior to its full introduction to the Cabinet and Parliament. [This has already been completed since the draft law is now in the hands of Parliament.]

This project of “removing the three zeros” promises to raise the value of the Iraqi Dinar to $3.33 through a total package of bold decisions, including: first, we have reviewed the import process to ensure that we would not drain our excess foreign currency held by the CBI to support the higher value of the IQD; second, we will be reducing our auctions to allow Iraqi businessmen to cover the expenses of their goods; third we will be reviewing the affect on the reduction of public spending and services [as we have withdrawn the large denominated notes] in relation to the cost of importing expensive furniture [which will be less expensive after the RV], for instance, making it available at the local markets in Iraq, while still encouraging and supporting local industry and jobs for the unemployed; and fourth we will make sure to support and develop agriculture through the assisting of farmers with seeds and agricultural machinery in order to increase the production of agricultural crops.

There are other things that the new Iraqi currency will support as well. We will be able to reduce our operations staff which has been beefed up temporarily for the purpose of training and development on the project.

It is important to see that while the article appears to be looking into the future because of the poor translation, in fact it is representing a situation that is now complete. We know this because of the statement made in the first paragraph that the draft law is now in the hands of Parliament. Therefore all of the things that needed to be done in this article are “retrospective” in nature, meaning that they HAVE been done, and that the process is now complete.

The only thing remaining is the passage of the draft law by Parliament and then the actual changing of the value of the dinar will occur. The remainder of the article includes statements about “proactive” things that the CBI will continue to monitor to ensure that the RV does not disrupt the economy of Iraq. In particular, note that they realize that imports of expensive items, such as furniture, will become quite a lot cheaper after the RV and that the CBI will ensure that this does not have a negative impact on local industry. Similarly, they have a plan to ensure that agriculture grows dramatically through the acquisition of equipment which, prior to the RV, was prohibitively expensive.

The bottom line is this: this is the final announcement from the CBI that the 6 year plan, which I have outlined in detail, is now complete, and that the RV is the next step.

As stated at the beginning of the article this will “free the Iraqi economy” and increase the value of the dinar around the world.

Edited May 9, 2011 by speculatorsRIDE

[leola]

I TAKE IT THAT YOU ARE SAYING ,,,NO,,,LOP,,,,$3.33 ,,,,I CAN LIVE WITH THAT ,,,,,HEY KEEP ,,,DON`Y SHOOT THIS GUY DOWN.................................................