Redemon/remove the 000

[adam14]

What does this mean? Posted today.

Friday, June 24, 2011 11:23 GMT

Iraq’s Central Bank announced on Thursday that it is planning to delete the zeroes of the Iraqi currency.

This step is one of the bank’s strategic missions; the Central Bank said adding that the new currency will include the Kurdish language in addition to the Arabic language.

“The zeroes that were added to the Iraqi currency previously constituted a large money supply up to 28.500 trillion Iraqi Dinar and 5 trillion banknotes”, the advisor of Iraqi Central Bank governor Mothahhar Mohammed Saleh told Alsumarianews.

“The Central Bank has prepared all requirements needed to delete the zeroes of the Iraqi Currency”, Saleh said.

“This step is one of the Iraqi central bank’s strategic missions. The monetary policy of the bank aims to structure and reduce the currency in a country moving towards an economic phase”, he added.

“The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be passed to the ministerial council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual. It will be preceded by awareness campaigns for citizens”, the adviser of Iraqi Central Bank governor said.

“The new currency will be printed after deleting the zeroes and will include the Kurdish language in addition to the Arabic language. It will bear as well photos of Iraq’s civilizations and patrimony in addition to symbols of Iraqi intellectuals and figures”, Saleh noted.

On June 19, Iraq’s Central Bank Governor Sanan Al Shebeibi affirmed during the meeting of independent commissions with Prime Minister Nuri Al Maliki that the bank is preparing all requirements needed to replace the Iraqi Currency.

Iraq’s Central Bank has four branches including Basra, Sulaimaniah, Arbil and Mosul. It was founded as an Iraqi independent bank by virtue of Iraq’s Central Bank Law issued on March 6, 2004.

The bank is responsible for the prices stability and the implementation of monetary policy including exchange rates, the management of foreign reserves, the issuance of currencies and the organization of the banking sector.

http://www.alsumaria.tv/en/Iraq-News/1-65688-Iraq%E2%80%99s-Central-Bank-plans-to-delete-zeroes-of-Iraqi-currency..html

Is this "OLD" news that is being rerun?

[VIZIOIRAQI]

The project of deleting zeroes is complete The Central Bank has prepared all requirements needed to delete the zeroes of the Iraqi Currency”,

“The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be passed to the ministerial council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual.

[DinarChiTown]

It means we probably have a while to go before the dinar rv's. I assume that it won't happen until parliament votes on it and God knows how long that will take. Hopefully before end of year. Don't think it will pop by end of June, so we wait, again.

[MotorCity]

Looks like they reworked an old press release and added a couple new items like the June 19th meeting of Shebeibi and Maliki. Maybe part of the public awareness campaign. At least they keep addressing it and confirming the change of the currency and reduction of the large bills. New smaller denom bills with Kurdish and Arabic.

Letting people know so when they see them they will know they are not counterfeit?

Remember, there are a lot of illiterate people over there, and with very little electricity, and not a television in every compound, no daily Wall Street Journal to keep tabs on government and business, and Oprah is no longer doing her daily show....

If they are now saying "gradual" change, and before they were saying "soon", what are they really saying? Are they telling the truth, or are they trying to tell their people not to hoard their "soon" to be worth more Dinar?

I am pretty new to all this, but I don't think we can put an accurate spin on it, we have to just watch the "Money", the "Ministers", and CBI.

IMHO

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

[fnbplanet]

I think in Greece, she's known as "Ooopa!"

[umbertino]

It means we probably have a while to go before the dinar rv's. I assume that it won't happen until parliament votes on it and God knows how long that will take. Hopefully before end of year. Don't think it will pop by end of June, so we wait, again.

So it will not be the end of June / beginning of July when we see it.... As expected.

[Cosmicndn]

Looks like they reworked an old press release and added a couple new items like the June 19th meeting of Shebeibi and Maliki. Maybe part of the public awareness campaign. At least they keep addressing it and confirming the change of the currency and reduction of the large bills. New smaller denom bills with Kurdish and Arabic.

Letting people know so when they see them they will know they are not counterfeit?

Remember, there are a lot of illiterate people over there, and with very little electricity, and not a television in every compound, no daily Wall Street Journal to keep tabs on government and business, and Oprah is no longer doing her daily show....

If they are now saying "gradual" change, and before they were saying "soon", what are they really saying? Are they telling the truth, or are they trying to tell their people not to hoard their "soon" to be worth more Dinar?

I am pretty new to all this, but I don't think we can put an accurate spin on it, we have to just watch the "Money", the "Ministers", and CBI.

IMHO

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

I just read the official anouncement in Alsumaria Iraqi News this morning. The news was anounced on Thursday. Go to http://www.alsumaria.tv/en/Iraq-News/1-65688-Iraq%E2%80%99s-Central-Bank-plans-to-delete-zeroes-of-Iraqi-currency..html

for the story.

[mrref]

FROM WHAT I JUST READ AND OF COURSE THIS COULD ALL BE A SET UP BECAUSE WE DON'T KNOW HOW THESE PEOPLE THINK OVER THERE, BUT ANY HOW IF WHAT I JUST READ STANDS TRUE WE ARE STILL IN FOR A LONG WAIT, MAYBE IF WE ARE LUCKY BY THE END OF THE YEAR..

Edited June 24, 2011 by mrref

[anothernewbie]

OK. Now what does this mean? If they drop 3 zeros, does that mean 100,000 dinars becomes 100 and 25,000 IQD notes become 25? Oh well, there goes my retirement plans.............Anyone out there with some REAL insight?? This is just like driving a truck....Days and days of continuous monotony interrupted by several seconds of SHEER TERROR!!

[dinarhound]

Just my opinion, I believe this is Smoke and Mirrors. Lower denoms have already been printed and ready to go. S has stated revalve by end of month. Too much has gone on lately with UST, new forex in Iraq, and all other info coming in for this to be continuing as a long term project.

Keep this in mind... Changing money while in circulation is done constantly in the US. Banks swap out old 1's, 5's, etc. for new one with the new looks, on a regular basis.

It would be easy for Iraq to do the same to include more photos or writings.

I've been a holder since 2005, don't post alot, but I read! This article seems out of place! They are throwing us a curve ball. Hang in there, at least till after the July 4th weekend, then reevaluate the situation!