Structuring currency" includes lifting of the zeroes

[VIZIOIRAQI]

Advisor to the Central Bank's "by the people": "Structuring currency" includes lifting of the zeroes and the issuance of new categories Thursday June 23, 2011

BAGHDAD - Ali Abdul-Zahra:

Confirmed the Iraqi Central Bank Consultant Dr.. Appearance for the project of restructuring the local currency will include the process of lifting the zeros from the currency and the issuance of large groups and a new small, noting that it will support the currency in terms of "transaction costs", stressing that the project will be implemented in a strategic and several stages.

Saleh said in an interview with "by the people" yesterday, said the worsening economic situation and rampant inflation, which hit the country, added zeros to the currency, and I've made these structural weak content of the value of it, pointing out that the citizen uses the categories of high-volume but low-content values.

"The restructuring of the currency" will raise zeros from the currency and the issuance of large and small groups of new ones, will contribute to support the currency in terms of "transaction costs", adding that it does not affect the citizens' income, nor to contracts or anything else.

And the Chancellor that with global economic growth and increase the country's oil exports would lead to higher imports of cash, the current form of currency does not suit the new phase.

Saleh pointed out that the proposed restructuring of the currency is a strategic project, and "needs to support the government and the parliament and the people," pointing out that preceded the project awareness campaign including the citizens, "because the dinar is for all Iraqis, but not limited to a particular class," saying, "We are going to do when matures and people embrace it. "

He said the project will facilitate commercial exchanges and the citizen will not have time to switch the currency to do so, stressing the goal of the project is to raise the burden on the citizen, and make it prosperous.

http://translate.google.com/translate?hl=en&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B3%2B2011/06/23%2B%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2583%2B%25D8%25A7%25D9%2584%25D9%2585%25D8%25B1%25D9%2583%25D8%25B2%25D9%258A%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%26hl%3Den%26rls%3Dcom.microsoft:en-us:IE-Address%26rlz%3D1I7RNSN_en%26prmd%3Divns&rurl=translate.google.com&sl=ar&u=http://www.media.iraqicp.com/2010-12-17-07-29-32/170----211--23--2011.html.

[inheritance]

ThanksVIZIOIRAQI it just keeps on coming!!

[FrankenSLI]

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[dinarx2]

"He said the project will facilitate commercial exchanges and the citizen will not have time to switch the currency to do so, stressing the goal of the project is to raise the burden on the citizen, and make it prosperous. "

Not sure what this means ... anyone want to guess

Sure looks like something is happening....just wish I knew what

[nowhammies]

What did Saleh mean by this? ....

"the citizen will not have time to switch the currency to do so"...not sure how to interpret that statement

Read more:

[coldwarvet]

Sure do wish we had a better translation. This is very obscure. Of course, Saleh's statements always have been this way. Here's hoping it's a good outcome!

[Dinarold eRVing]

This Link Should Work. You have to scroll down to see it.

http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Fwww.media.iraqicp.com%2F2010-12-17-07-29-32%2F170----211--23--2011.html

[Dalite]

What did Saleh mean by this? ....

"the citizen will not have time to switch the currency to do so"...not sure how to interpret that statement

Read more:

I am going to take a guess and say it meant that if the Dinar had the Same value as the Dollar, Iraqis would embrace the Dinar over the Dollar in their commerce.

And the "raise the burden on the citizen" interpretation is very suspect.

Restoring purchasing power to the smaller bills has always been presented as lowering the burdens of the citizens, in the past remarks.

The media there has tribal alliances, just like the leaders. It is seldom subtle when a single event is reported with different outcomes. It is called Bias, and their execution is as transparent as a schoolyard playground. They report what they want you to hear...

Unless you can understand the dialect, and personally witness the event, you have Read every news article and attempt to extract what actually transpired.

Recent case in point.... Allawi; Colon Cancer or Depression. The 2 maladies aren't closely associated enough to confuse one with the other.

[ginger21]

IMHO it means that the people will not have to go to the bank to exchange their dinars

To get smaller notes, that the places they buy products from can exchange the larger notes.

This same thing happened when Russia did this.

[magicchris]

So would this mean lift/remove the zero's without the dreaded Lop/RD(change the 25K note for 25K in smaller bills), Then let it open to the Forex and let nature take it's course?

"the citizen will not have time to switch the currency to do so"....seems like there will not be a time limit imposed to trade them in.

I hope we are all good with the bills we hold here.

[HYDRANT]

THANKS VIZ

[Waco69]

So what does this mean to us "investers"? Does it mean my 500K is now worth 500?

[quadraph0nic]

IMHO it means that the people will not have to go to the bank to exchange their dinars

To get smaller notes, that the places they buy products from can exchange the larger notes.

This same thing happened when Russia did this.

Oh REALLY??

I THINK YOUR RIGHT!

Well Russia "Lopd' in 98...notice how they talk about the three zeros before hand eeriie....THA THREE ZEROS!!! OMG WILL HISTORY REPEAT ITSELF!! :lol:

----------------

August 04, 1997

From Moscow Bureau Chief Jill Dougherty

MOSCOW CNN The Russian ruble is slimming down beginning January 1, 1998, President Boris Yeltsin announced Monday.

The new ruble will lose three zeroes; in other words, what used to cost 1,000 rubles will now cost one ruble, Yeltsin said. (that's pretty simple, isnt that happening already in Iraq?)

The purpose was to avoid stress and trouble, Yeltsin said. Currently, Russians must deal with unwieldy currency in which 1 million rubles equals only about 175.

Yeltsin said the old rubles will remain in circulation during 1998, along with new rubles. Old rubles can be exchanged for four years, until the end of 2002. (Iraq also said this would be a gradual process...could be smoke though could be smoke )

Yeltsin said no one will lose anything as a result of the reform. (oh same with dinar minus that 30-40% markup you got pumped into buying. ALI WHERES ALI?? )

Nobodys interests will be trampled upon; the reform will not amount to confiscation, he said, noting that inflation is under control and prices are basically stable. (Inflation Inflation same concern in Iraq)

That is why we made the decision to conduct the moneyreform, he said. In doing so, we declare today there will be no more inflation. An end has been put to it. New zeroes will never again appear on our banknotes. (hence, why they redenominate err I mean LOP! err I mean cut the living cr@p out of their money supply!!! Oh no not our millions!! How am I going to afford spinners for my corola?)

http://articles.cnn.com/1997-08-04/world/9708_04_ruble.reform_1_ruble-president-boris-yeltsin-inflation?_s=PM:WORLD

[pro1]

Quadraphonic you make quite an intriguing argument. Its seems logical. It seems that when the RV does come, even if it gets to $3 then it simply is a 200-300 percent gain on this investment. Even if it takes another year or two to get to 3+. I do admit your argument makes simple and logical sense. What kind of person would give a neg for this response. It is so valid! I plussed you up. Thanks for constantly keeping me level headed. Truly thankful!

[af4mi]

Less=more.

The RD happens first, along with educating the people, then they 'make it stronger'. Based upon information available to all, look for appreciation to be good from Dec 11 to June/July 12.

It's a reasonable deduction based upon all of the present info available. There are no links, intel or crystal ball.....just conclusions from the info