***Phoenix's response regarding the CBI Article***

[easyrider]

CBI Decides to Restructure the Iraqi Currency

22/06/2011 13:06

Baghdad, June 22 (Rn) - The Central Bank of Iraq, Wednesday, that he decided to restructure the local currency in order to develop the payment system in the country.

Sums of money The appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the Central Bank of Iraq has decided to start the execution of the strategic and long-term specialized restructuring of the local currency to the development of the payments system in Iraq."

He added that "the central bank will raise the level of local currency and the currencies of developing new approaches to reach U.S. $ 100, which would address the economic gap in the financial payments system in the country."

He continued that "the project of restructuring the local currency, which started gradually need to support the government and parliament that he will organize the purchasing power compared Palmdjulat economy."

He expressed the IMF in August / August, his support of the Iraqi economy in the event of having a number of economic measures including the privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.

The Iraqi government has denied any change in the local currency this year to reduce inflation.

The local Iraqi currency has gone through several changes in its history, most recently in 2004 when the former Governing Council replaced the previous currency, which was the symbol of the former regime.

The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector.

including a short note from Phoenix too about this article, make sure all of us are crystal clear (0:

Pending Revaluation announcment by the CBI

This announcment says the they have decided to restructure the currency of Iraq and raise it to near the value of the US Dollar.

The CBI has never said this before, all statements before were just telling of the plan and studies to do this so this is the first and only time they have said they are doing it.

The actual rate change must be very near....have a plan and plan to act!

Phoenix

Edited June 22, 2011 by easyrider

[tired_of_waiting]

They dont have a history of completion within the realm of time. Just a thought. Here is to hopeing

[Biker]

But then agin they have said a lot to passafy the people and never deliverd, But good post Easy, ill look for it when if ever it happens.

[easyrider]

we'll see but with everything coming out and now this article it seems they are ready!!!!!!

[Retiredofficer]

"...near the dollar." I am hoping "near" falls on the plus side of the dollar not beneath.

R.O.

[Action316]

NICE Great find Easy... !!! ..

[zaborniake]

I've posted this before, but IMO it makes absolute sense for the dinar to be revalued near or at the dollar. Both currencies are being used on the streets. If the dinar is revalued at the dollar, the dollar can be removed without any significant effect on transactional business.

[The Machine]

Cheers easy

[easyrider]

I've posted this before, but IMO it makes absolute sense for the dinar to be revalued near or at the dollar. Both currencies are being used on the streets. If the dinar is revalued at the dollar, the dollar can be removed without any significant effect on transactional business.

yes i agree it would better suit the people to get familiar with the change in the value and make it more plausible to do transactions smoothly without disrupting their new financial system they are putting in place.

[canada29]

Everything is falling into place.......its like a big puzzle.

Great post Easy........

Great advise phoenix........

I wish for news about the UN meeting today in NY regarding Chapter 7 sanctions being lifted? It would really get things going in the right direction!

Nevertheless things look positive!

Go RV!

[Nelg]

Excellent!!! But I will not be able to sleep for the next few days!!! I ready to do a Snoopy Dance and that is hard for a 70 yr old fat man. However, I could just take three steps and stop real fast. The rest is up to the fat!:lol:

[DRV1804]

Well the Ruler of the Universe on all things Dinar has spoken.....so I am sure it must be so

Come on you dont have to disrespect the guy...he does his research and honest due diligence....thats all any of us can do. Fact is none of know when and how much, but when it comes from the CBI I am going to listen!! TY for the post EZ, and TY Phoenix for all you do!!

[SnowGlobe7]

come on ....come on....cme on....RV pretty please

[DinarDiva007]

$1.00 Man we can only hope! That would be just an amazing gift!

[dinarck]

we'll see but with everything coming out and now this article it seems they are ready!!!!!!

Yeah ready alright. To redenominate. Raise three zeros. Raise three zeros. Rasie three zeros.

Edited June 22, 2011 by dinarck

[easyrider]

Yeah ready alright. To redenominate. Funny how you left out the part of that article that says remove three zeros. Only after that will they come in at 1.00. I think the reason they are coming in at 1.00 after redenomination is to make transactions simple. If they left it at .86 transactions would be confusing. Again Easy I know you believe in the RV but please stop misguiding peolpe by leaving out vital info from articles. Intentional or not.

lol so you come here on my page that i posted and accuse me of leaving out stuff hahaha dude you got issues man. I will not explain myself to you and YES i believe in an RV and you believe in a redenomination. Please stop trolling on my posts it only makes you look desperate for attention.

[dinarck]

lol so you come here on my page that i posted and accuse me of leaving out stuff hahaha dude you got issues man. I will not explain myself to you and YES i believe in an RV and you believe in a redenomination. Please stop trolling on my posts it only makes you look desperate for attention.

As you can see I realized my mistake and quickly fixed it. I apologize for the accusation. Still why no mention of the removal of the zeros? Is that not a factor to you?

[easyrider]

As you can see I realized my mistake and quickly fixed it. I apologize for the accusation. Still why no mention of the removal of the zeros? Is that not a factor to you?

it is a factor but can be misinterpreted in either way Fact is they could be describing the lower denoms they could be talking about IN country meaning local. The fact is no one knows why get all worked up whatever happens this is coming soon we shall soon see. IMHO i don't believe they will RD.

[dinarck]

it is a factor but can be misinterpreted in either way Fact is they could be describing the lower denoms they could be talking about IN country meaning local. The fact is no one knows why get all worked up whatever happens this is coming soon we shall soon see. IMHO i don't believe they will RD.

OK

[capt.cliff]

Again easy---I didn't see anything there that indicates a 1-1 dinar/dollar value all I got out of it was they will use lower denominations structured in close the same numbers as American currency---1,5,10, 50, 100 that is all I got from it --the lower denominations that everyone has been looking for---should they do this quite possibly the buying power will be much HIGHER than our own money it would just be a way of making the transition into the smaller bills easier for the citizens to deal with ---just my thoughts

capt cliff

[Short Circuit]

come on ....come on....cme on....RV pretty please

Why dosen't your kitty's head groove anymore?

[Rockman]

I've posted this before, but IMO it makes absolute sense for the dinar to be revalued near or at the dollar. Both currencies are being used on the streets. If the dinar is revalued at the dollar, the dollar can be removed without any significant effect on transactional business.

Here is some info from Iraqi Currency Watch website regarding dollarization in Iraq:

From Predicting the Future Part 1:

"The minister of planning released a report of what they think the value has to be to fight dollarization. They suggest a rate of at least 1.13".

[canada29]

Things to consider regarding the it factor:

1. Inflation is on the rise......bondlady pointed it out. CBI posted the change a couple of days ago.

2. Dealers are selling more of the lower denominations(50-250-500-1000) for even more $ now because they can no longer get the larger ones as they are being "lifted" off the market in Iraq. (no confirmation of this but its just assumed and the dinar market reflects this)

3. If they were going to LOP then the large bills would still be in use and they would continue to use them. $1000 US bills are still legal tender but are not in circulation.

4. Repeated many times by the CBI over and over in many articles that they want to raise the value of the dinar.

IMHO : make your own conclusions based on facts and don't worry about words like (Deleting/raising/lopping/removing the zeros), there have been so many articles about this topic as you can see it can make your head spin

Regardless the RV will happen and we will no the truth what they meant!

[powerpager]

Get the plan !!!

[willy1der]

Here is some info from Iraqi Currency Watch website regarding dollarization in Iraq:

From Predicting the Future Part 1:

"The minister of planning released a report of what they think the value has to be to fight dollarization. They suggest a rate of at least 1.13".

I believe I've heard and/or read that too. I can handle $1.13!

Thanks Rockman