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***Saleh will raise zeroes for citizens***


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May 16, 2011 - Adviser said the CBI appearance of Dr. Mohammed Saleh, “The draft raise three zeros from Iraqi dinar is a strategic project and it has no effect on purchasing power, or incomes of citizens, but will enhance the value and strengthens Iraq’s relations economic ties with other countries,” urged the economists to “postpone the adoption of law and conducting extensive studies on it because of the threat to the Iraqi economy. “

Saleh added on the sidelines of the symposium organized by the Faculty of Management and Economics at the University of Babylon, recently carried the title (raise zeros from Iraqi dinar and its negative and positive), “The project, which conducted many scientific symposiums between specialists of the saturation of research and audit will also contribute to reducing transaction costs and reduces the carry cash and that the pros have it involves much more than the potential disadvantages “

He (Saleh) continued, “Iraq on the verge of producing 6 to 12 million barrels of oil and this will impact on the development and raise the value of the Iraqi dinar and the adoption of the project would suit fully and this increase in oil production and it also aims to improve the management of the currency regime in Iraq, the fact that the current system is a system behind and not commensurate and development taking place in the world in this area as well as being remnants of the former regime, based on grounds other than scientific and represent three decades of underdevelopment and economic decline, especially as the economic progress which will be witnessed Iraq’s future needs to system management a new currency commensurate with the boom expected in the country and therefore will not affect not on the dealings of the citizens, nor on its revenues, or even on different contracts, but he would maintain it and strengthen economic relations and exchanges in the future, “he said

And link adviser to the CBI between the approval of the project to delete three zeros from Iraqi dinar and the economic prosperity achieved in Iraq. “This project will not be unless there is a boom in the Iraqi economy and that if this is not achieved it does not already value of the project” as he put it

Stressing that “the day on which the project is approved, it means that Iraq has walked in the path of stability and progress, and a defiantly disobedient life in the country has become is not what it is now and then Iraq would become a leader at the time of the power in the Middle East”

In response to a question about the period for implementation of the project it has no effect on the exchange rate of the dinar against the dollar, said, “that the period is open.

There is currently no specific time for its implementation and all the accessories the success of the project would be studied carefully and all aspects are then submitted to the Parliament for approval after be generated with the legislative and executive branches convictions sufficient to implement.

As for its impact on the Iraqi dinar exchange rate against the U.S. dollar, there is no any effect in this regard but that the implementation of the project will not be there were not the force of the Iraqi dinar “

Economists and those interested in economic affairs, for their part have expressed concern about the negative effects expected from the project in the event of approval, which was mentioned by Dr. Dean of the Faculty of Management and Economics at the University of Babylon Mujbil Rafik Morgan said, “that the issue of lifting of the zeroes is still in the process of debate and so far as economists do not know who will Is it the law of the Iraqi Central Bank or the prime minister or whether he will be presented to the House of Representatives which will be discussed because the issue is the seriousness of the Iraqi economy “

He called for “the study of law by economists and specialists in economic affairs that the process of advancement of the Iraqi economy at the present time does not bear any confusion”

“After the decision must be justified on grounds and find out whether he will support the Iraqi economy will be a mechanism or mechanisms to remove inflation, because this issue affects all citizens must therefore be carefully studied before approval,” he said

As expected the President of Chamber of Commerce of Babylon, the decision to raise zeros from Iraqi dinar will have an impact on the Iraqi economy and inflation as well as the impact of the circulation of currency in the Iraqi market “

Adding that “the view of the Chamber of Commerce can not be built on the point of view of the Central Bank, but there will be extensive studies on the subject and we will organize seminars with stakeholders and traders and businessmen to form a whole idea for and then later we will give our opinion about it”

The specialists Iraqis in the area of ​​the economy they had underestimated the impact of the Central Bank of deleting three zeros from the currency the purchasing power of the Iraqi dinar, with one researchers that the cost of lifting of the zeroes will be the biggest of its utility as the currency’s strength is measured by the stability of disbursement, which is based on the strength of the productive sector capable of to provide goods and services.

http://wp.me/pZC7o-8kv

http://another site.wordpress.com/2011/05/31/cbis-saleh-the-decision-to-raise-zeros-from-iraqi-dinar-will-strengthen-the-value-of-the-incomes-of-citizens/

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:lol::lol: It is good to see we are not the only ones that are worried about a LOP.I hope they raise hell everytime so one mentions it.If they want to LOP,LOP the 0's off the exchange rate.I wouldn't be mad at that. :lol:;)
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"it has no effect on purchasing power, or incomes of citizens"

"As for its impact on the Iraqi dinar exchange rate against the U.S. dollar, there is no any effect in this regard"

These two statements don't sound one bit encouraging. I hope this article is bogus. GO RV!

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"it has no effect on purchasing power, or incomes of citizens"

"As for its impact on the Iraqi dinar exchange rate against the U.S. dollar, there is no any effect in this regard"

These two statements don't sound one bit encouraging. I hope this article is bogus. GO RV!

“"The draft raise three zeros from Iraqi dinar is a strategic project and it has no effect on purchasing power"

Things get messed up when there is only a tiny bit of the statement.

This sentence refers to the "NO - LOP" Meaning, After this happens a 25,000 with still be worth 25,000 If a LOP was to occure then your looking at the REMOVAL OF 3 ZEROS, Meaning a 25,000 is only worth 25 dinar.

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“"The draft raise three zeros from Iraqi dinar is a strategic project and it has no effect on purchasing power"

Things get messed up when there is only a tiny bit of the statement.

This sentence refers to the "NO - LOP" Meaning, After this happens a 25,000 with still be worth 25,000 If a LOP was to occure then your looking at the REMOVAL OF 3 ZEROS, Meaning a 25,000 is only worth 25 dinar.

If this was a straight up RV then do you think they would being saying anything at all?? It would cause a mass hysteria and people would be buying up the dinar left and right.....its a RD.....plain and simple...

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IMO this is typical political BS. They don't need symposiums, ecomonists, advisors, University faculty(we all know how clueless they are) or specialists to determine a L O P is the wrong outcome. To benefit Iraq and it's citizens and everyone else it is an RV that is required.

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So if he lop'd the zeros off the currency wouldn't it make the currency they hold even more worthless???

Doesn't make sense??

Nope....a RD raises the value of the currency and the purchasing power......if they remove the zeros on the currency, they will do the same on the exchange rate......its a neutral change...

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Saleh said very soon in the one Q & A, but now says whenever?

Actually, Shabibi was the one behind the " very soon" comment.

Saleh is a spokesperson for the CBI, Shabibi runs the CBI.

Some suspect Saleh is actually Baghdad Bob

The first two sentences are fact, the last was for fun...

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I'm tired from work today, So Sorry to say, I usually read it all, But not today.

Saying that, I had a thought, If they LOP.... That makes our 25000 notes almost worthless to us due to the fact that we will get back just about the amount we paid for it. Now, Doesn't that mean ALL the notes Iraq is holding(As well as other countries) Will have the same affect on them? I mean the 30,000,000,000(And this isn't a quoted number, Just my Tired example, Sorry) they hold, Will only be 30,000,000.... Isn't that a HUGE Loss to them too? Just like our 25,000 will be just 25.... They would lose too, Right?

Idk, I'm tired but still want to Participate will all of you... Haha. (I need a Nap)

No Bashing needed, I'm Bashed, Krem.

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I'm tired from work today, So Sorry to say, I usually read it all, But not today.

Saying that, I had a thought, If they LOP.... That makes our 25000 notes almost worthless to us due to the fact that we will get back just about the amount we paid for it. Now, Doesn't that mean ALL the notes Iraq is holding(As well as other countries) Will have the same affect on them? I mean the 30,000,000,000(And this isn't a quoted number, Just my Tired example, Sorry) they hold, Will only be 30,000,000.... Isn't that a HUGE Loss to them too? Just like our 25,000 will be just 25.... They would lose too, Right?

Idk, I'm tired but still want to Participate will all of you... Haha. (I need a Nap)

No Bashing needed, I'm Bashed, Krem.

LOL doesnt make them worthless....you dont lose money or gain money.....your 25k note now is only worth like what? 21 something dollars? Well if they RD and your 25k becomes 25 dinar, the exchange rate is also changed and at 1 to 1 your 25k note is worth 25 dollars.....so yea there really is no loss, and no gain.....nobody loses....

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LOL doesnt make them worthless....you dont lose money or gain money.....your 25k note now is only worth like what? 21 something dollars? Well if they RD and your 25k becomes 25 dinar, the exchange rate is also changed and at 1 to 1 your 25k note is worth 25 dollars.....so yea there really is no loss, and no gain.....nobody loses....

Reminder My tired brain thinking(Danger) Haha.... But Cash In will minus money from what we get back... Loss Right? Nobody will cash in for free. So The Numbers say we break even, But you cash in and they Steal the Taxes out of it.... Loss.... Right? (I sure hope i'm not sounding Totally Retarded)

I Overpaid for mine anyway. Paid $325 for 250,000 plus $15 for shipping. Ya, I had NO Idea about anything. Haha

Tired but thinking, Krem

Plus, If there's no Gain, WTF Would they do it? So They have Smaller Notes? They waisted money on Printing th larger notes... They lose too...

Ugh My eyes are heavy...

Haha, Krem

Idk who gave you a -1 keep, But I evened you out. Just talking here, Not worth a -.

Join the conversation people, Don't just beat someone up for a discussion.

kREM

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Reminder My tired brain thinking(Danger) Haha.... But Cash In will minus money from what we get back... Loss Right? Nobody will cash in for free. So The Numbers say we break even, But you cash in and they Steal the Taxes out of it.... Loss.... Right? (I sure hope i'm not sounding Totally Retarded)

I Overpaid for mine anyway. Paid $325 for 250,000 plus $15 for shipping. Ya, I had NO Idea about anything. Haha

Tired but thinking, Krem

Plus, If there's no Gain, WTF Would they do it? So They have Smaller Notes? They waisted money on Printing th larger notes... They lose too...

Ugh My eyes are heavy...

Haha, Krem

Idk who gave you a -1 keep, But I evened you out. Just talking here, Not worth a -.

Join the conversation people, Don't just beat someone up for a discussion.

kREM

To make cash transactions easier, they would also do it to reduce the inflated money supply they have......which contributes to such a low value in their currency......and to combat the after affects of the period of hyperinflation that they had (which was part of the reason they needed to print such big bills in the first place which was due to inflationary issues which started in the 90's when Saddam was still in control)

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To make cash transactions easier, they would also do it to reduce the inflated money supply they have......which contributes to such a low value in their currency......and to combat the after affects of the period of hyperinflation that they had (which was part of the reason they needed to print such big bills in the first place which was due to inflationary issues which started in the 90's when Saddam was still in control)

I Understand Inflation and why they printed the larger bills, But now, I'm sure they hold alot of them, and now the 30,000,000,000 they hold(Again just a Made up Figure cause my give-a-damn level is so low) is only 30,000,000. Ya they can buy alot of soda's in Their Country, But try to buy soda's from us! Or the UK! AAAAwwwe $h!t.... Ugh, Lost train of thought. I should go lie down for a bit... Sorry KMWF... Haha But I may not

Krem

Plus, Thier Inflamation is down to like 3-5% now, Isn't it?

Krem

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I Understand Inflation and why they printed the larger bills, But now, I'm sure they hold alot of them, and now the 30,000,000,000 they hold(Again just a Made up Figure cause my give-a-damn level is so low) is only 30,000,000. Ya they can buy alot of soda's in Their Country, But try to buy soda's from us! Or the UK! AAAAwwwe $h!t.... Ugh, Lost train of thought. I should go lie down for a bit... Sorry KMWF... Haha But I may not

Krem

Plus, Thier Inflamation is down to like 3-5% now, Isn't it?

Krem

Yea inflation levels are great now....and its usually when things stabillize in the economy and AFTER levels of hyperinflation that they RD....thats when its most successful

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Nope....a RD raises the value of the currency and the purchasing power......if they remove the zeros on the currency, they will do the same on the exchange rate......its a neutral change...

For the purpose of this discussion only let's assume they revalue to 1 IQD = $1.00

No RD:

25,000 IQD = $25,000 with purchasing power of $25,000

With RD:

25,000 IQD becomes 25 IQD = $25.00 with purchasing power of $25.00

Not sure how you can say a RD raises the value of the currency or the purchasing power. It looks like it lowers it to me.

neutral change? Huh. Looks like a change of $24,975 to me.

btw cash transactions will be much easier too. It is much easier to hand over a 25 IQD then to hand over a 25,000 IQD.

Edited by speculatorsRIDE
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LOL doesnt make them worthless....you dont lose money or gain money.....your 25k note now is only worth like what? 21 something dollars? Well if they RD and your 25k becomes 25 dinar, the exchange rate is also changed and at 1 to 1 your 25k note is worth 25 dollars.....so yea there really is no loss, and no gain.....nobody loses....

How people can not understand this is beyond me. If people would take the "I'm going to wake up a billionaire" blinders off, they will eventually understand that it actually really simple.

Edited by Soldier
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Yea inflation levels are great now....and its usually when things stabillize in the economy and AFTER levels of hyperinflation that they RD....thats when its most successful

If they make 25K dinar=25Usd which is the rate what we purchased on, does'nt make sense. Their economy is booming in all fields right now be it Oil, agriculture, mobile, internet, media everything.

A country's development reflects directly on their currency. When they start developing 10-12Million barrels per day, do you still think they will LOP, and not share their profits with Investors, that really sound insane to me and a silly govt with a silly decision. You need to know more abt how the world economy works out and it will not go the way you're predicting about.

Also, it will go up the same way it came down, not it will take a U-turn in between and from there take a shortcut road, NO. if they had to do this, they would've done that way before. Think people.. Think, don't just listen to people who spread stuff.

Logistics to me suggest they want people to sell off iraqi dinars so that they can minimize the no. of people into this investment.

1 more thing, The US introduced this investment in USA to make help iraq ith things and when they're helped big time, how can they ditch the investors by just doing an LOP. I have 10 reasons to support my point and you just say LOP (or) RD. Ofcourse there's a chance of RD(Minimal), but LOP, no way..

Michel! :)

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If they make 25K dinar=25Usd which is the rate what we purchased on, does'nt make sense. Their economy is booming in all fields right now be it Oil, agriculture, mobile, internet, media everything.

A country's development reflects directly on their currency. When they start developing 10-12Million barrels per day, do you still think they will LOP, and not share their profits with Investors, that really sound insane to me and a silly govt with a silly decision. You need to know more abt how the world economy works out and it will not go the way you're predicting about.

Also, it will go up the same way it came down, not it will take a U-turn in between and from there take a shortcut road, NO. if they had to do this, they would've done that way before. Think people.. Think, don't just listen to people who spread stuff.

Logistics to me suggest they want people to sell off iraqi dinars so that they can minimize the no. of people into this investment.

1 more thing, The US introduced this investment in USA to make help iraq ith things and when they're helped big time, how can they ditch the investors by just doing an LOP. I have 10 reasons to support my point and you just say LOP (or) RD. Ofcourse there's a chance of RD(Minimal), but LOP, no way..

Michel! smile.gif

Im not predicting what they will do....just simply stating what these zeros articles are about......of course they could do anything....It could go either way.....RD/LOP is the same thing basically......we use the term LOP as a slang word for redenomination.....much easier to type and people seem to understand that better since its more widely used....So your saying that the only thing keeping back foriegn investment is because their currencies value is low?? That all foriegn investment for Iraq is going to depend solely on what happens with their currency?? Dont think so....there are bigger issues that outside investors are dealing with and worrying about....mostly stability.....If they get their oil production up to what they say they will do then no I dont see a RD, but that will take a good 5 years probly before they get up to those production levels so thats not even an issue here.

You know part of the reason it went down was because they started printing money excessively?? And now the money supply is severely inflated and it has to be reduced before we start seeing the value appreciate.......either that or they need to start pumping 12 million bpd like tommorow laugh.gif A RD is a short cut to get back on track to where they used to be.....

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