Maliki's meeting of independent bodies THIS TALKS ABOUT SHABIBI AND THE ZERO'S!!!

[DRV1804]

This is not mine but a guy named "Fresh over on BL's site" and thought we all might enjoy it!!

To meet with Prime Minister Nuri al-Maliki heads of independent bodies focused on talking about corruption and ways to fight it as He made ​​it clear that the campaign launched by Iraq against corruption has not seen like the rest of the world, stressing the success of the campaign to reduce levels of corruption in it. the Prime Minister / Nuri al-Maliki: MACON country can be mounted where crackdown on corruption, such as Iraq and the good thing of course is to show fear society has become a pariah is the supplements and an accountant all standards for that campaign succeeded when Holnaha to popular demand governmental request a procedural requirement. and between al-Maliki at the meeting continued two days ago that the numbers that refer to files stakeholders Kalnsahh and financial control over corruption cases do not represent the true number of cases or defendants in these issues. the Prime Minister / Nuri al-Maliki: We and necessary citizen to know that these figures that declare not indicate that corruption is real and it is a concern may prove to have been not proven, although No. 77 Director-General may be 10 general managers, each one has 10 cases or otherwise. Notes attendees about the corruption and ways to combat it took the space wider than the time the meeting and despite the confirmation of the heads of independent bodies rise in the number of complaints received by their organization on corruption, they argue that the problem of discrimination between cases malicious lawsuits The real remains the most prominent obstacles to fighting corruption within state institutions. Secretary of the DC / Sabir al-Issawi: Tens of thousands of complaints, particularly the Internet up Annie Avatar My question is the subject of one if the complaint was true of how we protect brought this complaint .. If the malicious and ill citizens how to protect the dignity of the employee and punish the abused and exploited the conditions written on the employee .. Algesh also seen comments about the work of the rest of the bodies that have reviewed the submitted within a percent on most notably the issue of deleting three zeros from the Iraqi currency, which the central bank said it will not affect all the conditions on the Iraqi economy or the exchange rate of the dinar. General Manager of the Central Bank / Shabibi: any process of change suggested becomes omitted Chi in a week or 10 days until you get used to people on every change in any doubt, but in fact is a calculation to facilitate the issue of circulation of cash, one of the foundations of monetary reform, and many passed out. session saw presentations by the heads of independent bodies which had not been completed for the rest of the bodies Offers defer to a future session complemented the presentations according to the schedule specified in the Council of Ministers for this purpose.

http://alsumaria.com/ar/Iraq-News/1-65566-.html

WOW so they really were Together Yesterday AND talked about the zero's!!!!

[jomans]

Good Stuff, IMO.

With respect to the talk about "deleting three zeros not having an effect on exchange rate"....... I believe this refers to affecting the exchange rate for the Iraqi citizen inside the country that will still continue using dinar as an everyday currency, not talking about those that hold hard currency in IQD abroad,

[SmokinAce]

Delete the zeros should not affect the dinar... I'm I missing something? We would hope that it would affect the dinar in raising the value right?

[DRV1804]

Good Stuff, IMO.

With respect to the talk about "deleting three zeros not having an effect on exchange rate"....... I believe this refers to affecting the exchange rate for the Iraqi citizen inside the country that will still continue using dinar as an everyday currency, not talking about those that hold hard currency in IQD abroad,

WOW, what a great take on it!! I honestly never thought of it that way...THANK YOU!!

[easyrider]

Good Stuff, IMO.

With respect to the talk about "deleting three zeros not having an effect on exchange rate"....... I believe this refers to affecting the exchange rate for the Iraqi citizen inside the country that will still continue using dinar as an everyday currency, not talking about those that hold hard currency in IQD abroad,

you are spot on my friend thanks. You see many people automatically in their minds take it as a LOP I mean A LOP will not help the economy in anyway.

[BocaLinda]

most notably the issue of deleting three zeros from the Iraqi currency,

UGH! more LOP talk??? Said nothing about removing zeros from rate, but from CURRENCY! Can any of you educated ones with Intel give us more insight on this please?

[disciple7]

you are spot on my friend thanks. You see many people automatically in their minds take it as a LOP I mean A LOP will not help the economy in anyway.

Easy meaning what? That we are still in the clear or that millions suddenly drop to thousands?

[dinarck]

Good Stuff, IMO.

With respect to the talk about "deleting three zeros not having an effect on exchange rate"....... I believe this refers to affecting the exchange rate for the Iraqi citizen inside the country that will still continue using dinar as an everyday currency, not talking about those that hold hard currency in IQD abroad,

Wait a minute. I must be confused here. You are saying they will RV to 1.00 but it will not affect the exchange rate? The exchange rate is what one currency can be exchanged for another. Correct? So if they RV to 1.00 the Iraqis can exchange their 25,000 notes for 25,000 USD when before they could only exchange them for 25 USD. I would call that a huge change in the exchange rate. Unless Shabs calls the 25,000 notes nill and void (only in Iraq like some are saying) and introducing lower denoms worth the same as USD. And all of us dinar holders get paid millions while the Iraqi people get the shaft? Please explain what I am misssing here. Someone.

[BlueJeanBaby]

most notably the issue of deleting three zeros from the Iraqi currency,

UGH! more LOP talk??? Said nothing about removing zeros from rate, but from CURRENCY! Can any of you educated ones with Intel give us more insight on this please?

Two things:

First is that I'm going to tell you a short story. This little story was posted by me elsewhere (can't remember which thread), so I'll just say it again here in the hopes that more people will see it, and that I can give a little clarity and shed some light.

Once upon a time ... ok, imagine that, by some miracle, you happen upon a $1,000 USD American bill. Doesn't matter how ... ok, let's say you find it on the street (like I said ... by some miracle.) Right now, you wouldn't be able to spend it as such, because those $1,000 bills have been taken out of circulation. It's not like you can go to the supermarket, buy a pack of gum and say, "Can you break this?" No, not so much. Even if you wanted to buy something for $999, they would still look at you funny because they'd think it's fake! No one has seen a $1,000 bill in ... how long? Like, ever, right?

Now ... having said that, if you take that $1,000 bill to your bank, your bank would, in fact, break it, and give you ten $100 bills, or 100 $10 dollar bills, or any other permutation that bring you to your $1,000. You would STILL HAVE the thousand dollars ... just not THE BILL, because the $1,000 bills have been lifted from circulation ... which is another word for saying 'raised,' which brings me neatly to the second thing ...

It's all in the translation from Arabic to English. The people who translate the posts into English, by and large, use euphemisms, analogies and other words for saying common words like 'REMOVE,' or 'take away'. English is not their first language. ARABIC is ... which is why we keep seeing that they're going to lift, or raise the three zero currency. They are removing the large bills from circulation ... a thing that DOES NOT AFFECT the bill's VALUE!

GO RV !!!!

Edited June 23, 2011 by BlueJeanBaby

[dinarck]

Two things:

First is that I'm going to tell you a short story. This little story was posted by me elsewhere (can't remember which thread), so I'll just say it again here in the hopes that more people will see it, and that I can give a little clarity and shed some light.

Once upon a time ... ok, imagine that, by some miracle, you happen upon a $1,000 USD American bill. Doesn't matter how ... ok, let's say you find it on the street (like I said ... by some miracle.) Right now, you wouldn't be able to spend it as such, because those $1,000 bills have been taken out of circulation. It's not like you can go to the supermarket, buy a pack of gum and say, "Can you break this?" No, not so much. Even if you wanted to buy something for $999, they would still look at you funny because they'd think it's fake! No one has seen a $1,000 bill in ... how long? Like, ever, right?

Now ... having said that, if you take that $1,000 bill to your bank, your bank would, in fact, break it, and give you ten $100 bills, or 100 $10 dollar bills, or any other permutation that bring you to your $1,000. You would STILL HAVE the thousand dollars ... just not THE BILL, because the $1,000 bills have been lifted from circulation ... which is another word for saying 'raised,' which brings me neatly to the second thing ...

It's all in the translation from Arabic to English. The people who translate the posts into English, by and large, use euphemisms, analogies and other words for saying common words like 'REMOVE,' or 'take away'. English is not their first language. ARABIC is ... which is why we keep seeing that they're going to lift, or raise the three zero currency. They are removing the large bills from circulation ... a thing that DOES NOT AFFECT the bill's VALUE!

GO RV !!!!

Yeah. Nice try. The US doesn't have 27 trillion in circulation and our money isn't worthless. (yet)

[tommyboy]

Yeah. Nice try. The US doesn't have 27 trillion in circulation and our money isn't worthless. (yet)

From all your posts I'll bet you consider your glass half empty instead of half full. IMHO

[sassy121]

BlueJeanBaby Thank you. That makes sense to me - finally. Don't bother with those who bash you - they are coming at this from another place entirely. We tend to forget that frankly, the usual (normal - if there is such a person anymore) does not have a lot of 25,000 notes laying around. So now, they suddenly get money they can spend - with actual value - means a lot. Frankly, I would be delighted if our $1.00 actually equaled $1.00!! Thank you again.

[BlueJeanBaby]

Thanks, sassy!! I tried

GO RV !!!!!

[MotorCity]

The only way introducing the small bills cannot be detrimental to the Iraqi people is if a 10 Dinar bill buys what a 10,000 used to buy. That requires a revalue of currency. People paid 100,000 Dinar a week would now be paid 100 Dinar a week. If you have large bills, you would have to have a bank exchange them for smaller bills. Of course, you could simply hold onto the large bill, but if you need the money, you need to get change. Merchants will not want to break a 25,000 bill for a 10 dinar purchase....Simply by paying in smaller denoms with higher value will rapidly decrease large bills on the street, IMO.

Iraq could set a time limit on cashing in the large denoms, keeping the rate as low as possible before a second RV. That would benefit the CBI as well as the UST and other Central Bankers, maximizing their profit as they increase foreign currency reserves...

There has been a lot of discussion about Iraq's need to fund the budget with an RV over $3, which also makes a lot of sense...Either way, the transition is coming, and by increasing the buying power of the Dinar and making it the exclusive international currency of Iraq as required to fully function in the WTO, it allows citizens of Iraq to buy more goods and services from the importers around the world.

It also would increase the buying power of Iraqi government as they rebuild the national infrastructure and strengthen their military defense and interior security.

Sounds like a win-win to me....

God Bless America....America, Bless God!