Traders collect and store a currency U.S. dollar in preparation for phase determine how zeros of the Iraqi currency

[RVmePLZ]

Correct me if I am wrong ( no danger of that not happening) but in translation to english doesn't this really mean July 31 2011?

that the process of replacement of zeros of the Iraqi currency, which goes to the government seeking its implementation during the period between the end of this month, and year.

REALLY GOOD POINT! *crosses fingers* Let's just hope and pray that's what it meant.

[jmw]

Traders collect and store a currency U.S. dollar in preparation for phase determine how zeros of the Iraqi currency

07/20/2011 0:00

The future of Iraq / special

With the approach of the countdown to reduce the zeros of the Iraqi currency by three zeros to the bottom step of the Central Bank of Iraq to rearrange the rules of the Iraqi economy, began to supported groups inside the Green Zone, assigned to currency traders collect and store a currency U.S. dollar in preparation for phase determine how zeros of the Iraqi currency and Tbdlleha to become a thousand dinars , JD and access to the numbers Alumblyaria that invaded the culture of the Iraqi economy.

Source from inside the Green Zone, says that some of the condos with leaders and officials and officers turned to the banks not matching the specifications of the storage of financial because they were filled with U.S. currency the dollar, a gain is added to the dealers that it exceeds the profit rate of 100%, where it will be the amount sold by the Iraqi currency and buyer of U.S. currency The dollar is the same amount that it will buy the Iraqi dinar once again after the whistle of the Iraqi currency.

This process has affected and three days ago at the level of trading of the currencies in central Iraq, but are invisible to this moment, but will cause major problems on the economic level for the next period.

Traders the opportunity who make a living on such stages are active in damaging the Iraqi economy and raise the crisis between the people who started many of them converts from its own funds to the U.S. currency, an approach that is almost universal in the Iraqi markets are looking for safety in the maintenance of its financial resources by turning them into dollar and then deal with the new Iraqi currency, Valqnaah that prevail in the market now, that the process of replacement of zeros of the Iraqi currency, which goes to the government seeking its implementation during the period between the end of this month, and year.

It is expected to break out conflicts and problems in society and in the Iraqi economy if the project was carried out without the education and promotion by the government in the media and open channels of its own government to alter the currency and not to rely on the black market and banking companies, which accuses currently being fed the subject of rumors about what will happen with if the project was implemented as a means to increase the chances of speculation by raising the purchase price of the dollar against the Iraqi dinar in the flagrant exploitation of public ignorance of the fact that a step the central bank.

Economic circles demanded an integrated program for public awareness and transparent display of the program delete the zeros because these decisions are not just purely financial decisions, but is located in the heart of the daily life of citizens.

http://www.almustakb...o.aspx?AuthID=1

I read this as the speculators are taking all of the recent re-denomination articles that are coming out and convincing Iraqi's that they would be better off holding US dollars...and are exchanging US for dinar at an overly inflated price...Ironic...but sort like when dinar gurus say you are better off purchasing lower denoms at an inflated price to hedge against a re-denomination...big problem is that if this continues it will further weaken the dinar against the dollar...

[foghorn leghorn]

It sure looks like something is about to "hit the fan"!!

[Carrello]

I wish i could get away with saying **** like that.

You're just not a good speller

I do not think they are saying this will happen by the end of the year the calendar year. They are referencing July of 2011 (geeesss I hope I am right).

Also, are they telling us the exchange is 1:1 ?

"...because they were filled with U.S. currency the dollar, a gain is added to the dealers in this matter than profit rate of 100%, where it will be the amount sold by the Iraqi currency and buyer of U.S. currency the dollar is the same amount will buy him the Iraqi dinar once again after the whistle of the Iraqi currency."

"

Wow, I love this article. It appears that their own media campaign to control speculation has now backfired within the Iraqi community. There are people and businesses in Iraq who evidently have some money and they would be affected by a LOP just as we would be. The currency auctions also show that the CBI is selling the US Dollar instead of the Dinar. If Iraq were going to LOP meaning their present currency would hold no value, why not get rid of it? Instead, the CBI is now dedollarizing. IMO, I agree with Z, If iraq were to RV at a 1:1 ratio, there would be little reason to educate, and little reason to hold on to the dollar, providing for a much smoother transition into the lower denominations.

1:1 certainly makes sense from the standpoint of educating the man on the street. And this is a question: what happens if the dinar has a much lower value than the Kuwaiti dinar, and the IQD can only rise in value 2% (or whatever it is) every 90 days? Specifically, how would this work at the Port of Mubark, which will be shared? Thx.

Edited July 20, 2011 by Carrello

[zaborniake]

You're just not a good speller ")

I do not think they are saying this will happen by the end of the year the calendar year. They are referencing July of 2011 (geeesss I hope I am right).

Also, are they telling us the exchange is 1:1 ?

"...because they were filled with U.S. currency the dollar, a gain is added to the dealers in this matter than profit rate of 100%, where it will be the amount sold by the Iraqi currency and buyer of U.S. currency the dollar is the same amount will buy him the Iraqi dinar once again after the whistle of the Iraqi currency."

"

Well, I was thinking that they could start this process between now and the end of 2011. However, this may mean that they could start this month and continue to do so until the end of the year. I think that Saleh stated in an article that no changes to the currency to reduce inflation would be made this year. That may mean they are going to start this thing this year, and then make another adjustment in 2012.

[Carrello]

Great Mongo. You hit your personal best.

Edited July 20, 2011 by Carrello

[Nelg]

i am going to be honest here.........i have no idea what this really means, i think its big, but i cant grip what they are saying

I believe this was on another post yesterday and I couldn't understand what they were saying either. What we need is a better translation of the entire article.

Anyone out there that can do this?

[Sara Johnson]

Traders are involved in damage to the opportunity of the Iraqi economy ..Officials are turning their homes into shops for the banking pending delete zeros dinar

Author:

the future of Iraq

07/20/2011 0:00

The future of Iraq / special

With the approach of the countdown to reduce the zeros of the Iraqi currency by three zeros to the bottom step of the Central Bank of Iraq to rearrange the rules of the Iraqi economy, began to supported groups inside the Green Zone, assigned to currency traders collect and store a currency U.S. dollar in preparation for phase determine how zeros of the Iraqi currency and Tbdlleha to become a thousand dinars , JD and access to the numbers Alumblyaria that invaded the culture of the Iraqi economy.

Source from inside the Green Zone, says that some of the condos with leaders and officials and officers turned to the banks not matching the specifications of the storage of financial because they were filled with U.S. currency the dollar, a gain is added to the dealers that it exceeds the profit rate of 100%, where it will be the amount sold by the Iraqi currency and buyer of U.S. currency The dollar is the same amount that it will buy the Iraqi dinar once again after the whistle of the Iraqi currency.

This process has affected and three days ago at the level of trading of the currencies in central Iraq, but are invisible to this moment, but will cause major problems on the economic level for the next period.

Traders the opportunity who make a living on such stages are active in damaging the Iraqi economy and raise the crisis between the people who started many of them converts from its own funds to the U.S. currency, an approach that is almost universal in the Iraqi markets are looking for safety in the maintenance of its financial resources by turning them into dollar and then deal with the new Iraqi currency, Valqnaah that prevail in the market now, that the process of replacement of zeros of the Iraqi currency, which goes to the government seeking its implementation during the period between the end of this month, and year.

It is expected to break out conflicts and problems in society and in the Iraqi economy if the project was carried out without the education and promotion by the government in the media and open channels of its own government to alter the currency and not to rely on the black market and banking companies, which accuses currently being fed the subject of rumors about what will happen with if the project was implemented as a means to increase the chances of speculation by raising the purchase price of the dollar against the Iraqi dinar in the flagrant exploitation of public ignorance of the fact that a step the central bank.

Economic circles demanded an integrated program for public awareness and transparent display of the program delete the zeros because these decisions are not just purely financial decisions, but is located in the heart of the daily life of citizens.

http://www.almustakb...ow.aspx?ID=5973

[tandy]

thanks for the post...interesting

[thegente]

posted this last night, thx Sara...

[Munsch]

posted this last night, thx Sara...

I will merge them ... Interesting how it says dollar for dollar and the 3 days ago thing. Getting excited is all I can say.

[pureau79]

I wish i could get away with saying **** like that.

Noo schitt!

[cisole]

I will merge them ... Interesting how it says dollar for dollar and the 3 days ago thing. Getting excited is all I can say.

I craped my pants between reading this and Adam’s e-mail, wasn’t pleasant to clean up, but the anticipation is killing me!!!

[thegente]

I will merge them ... Interesting how it says dollar for dollar and the 3 days ago thing. Getting excited is all I can say.

Thx...here's to hopin, but not expectin...

[guster]

Here's what BondLady thinks about this article, hope it was ok to post this here:

[bondLady] Traders are involved in damage to the opportunity of the Iraqi economy ..

Officials are turning their homes into shops for the banking pending delete zeros dinar 20/7/2011.

The future of Iraq / special with the approach of the countdown to reduce the zeros of the Iraqi currency by three zeros to the bottom step of the Central Bank of Iraq to rearrange the rules of the Iraqi economy, began to supported groups inside the Green Zone, assigned to currency traders collect and store a currency U.S. dollar in preparation for phase determine how zeros of the Iraqi currency and Tbdlleha to become a thousand dinars, dinars, and access to the numbers Alumblyaria that invaded the culture of the Iraqi economy. source from inside the Green Zone, says that some of the condos with leaders and officials and officers turned to the banks not matching the specifications of the storage of financial because they were filled with U.S. currency the dollar, a gain is added to the dealers in this matter than profit rate of 100%, where it will be the amount sold by the Iraqi currency and buyer of U.S. currency the dollar is the same amount will buy him the Iraqi dinar once again after the whistle of the Iraqi currency. This process has affected and three days ago at the level of trading of the currencies in central Iraq but are invisible to this moment, but will cause major problems on the economic level for the next period.

[bondLady] traders the opportunity who make a living on such stages are active in damaging the Iraqi economy and raise the crisis between the people who started many of them converts from its own funds to the U.S. currency, an approach that is almost universal in Iraqi markets you are looking for safety in the maintenance of its financial resources by turning them into dollars and then deal with the new Iraqi currency, Valqnaah that prevail in the market now, that the process of replacement of zeros of the Iraqi currency, which is moving the government seeking to implement it during the period between this month and the end of this year. It is expected to break out conflicts and problems in society and in the Iraqi economy if the project was carried out without the education and promotion by the government in the media and open channels of its own government to alter the currency and not to rely on the black market and banking companies, which accuses currently being fed the subject of rumors about what will happen with if the project was implemented as a means to increase the chances of speculation by raising the purchase price of the dollar against the Iraqi dinar in the exploitation of blatant ignorance of the public the fact that a step the central bank. constituencies economic demanded an integrated program for public awareness and offer transparent to the deletion of zeros, because these decisions are not just decisions purely financial, but is located in the into the daily life of citizens. http://www.almustakbalpa ··· ?ID=5973 .......... http://www.bondladyscorn ··· os-dinar

[JohnnyZ] welcome and sit on hands

[bondLady] now let me start with this

[bondLady] let me take u back to Kuwait

[bondLady] when we 1st went into Kuwait

[bondLady] to free them from saddam

[bondLady] there currency was pretty high per the exchange rate

[bondLady] so really the people thought

[bondLady] that with the war an us coming in an basically bringing more war in but to oust saddam

[bondLady] the people thought their currency was crushed

[bondLady] basically like iraqs when we went in to free iraq from saddam

[bondLady] the kuwait people thought there currency devalued

[bondLady] when in reality it hadnt

[bondLady] so the traders an crooks who knew the real rate

[bondLady] began to buy the kd from the people

[bondLady] an the people thinking they were getting a good deal sold off there kuwait dinars for basically pennies on the dollar

[bondLady] but the bank never devalued it an many people made money off these people cause they didnt know any better

[bondLady] now in this article

[bondLady] we see where its kinda like that was

[bondLady] the traders know something is about to happen with the iqd

[bondLady] so there setting up places in houses an probably giving them a little better deal by pennies to trade out for usd

[bondLady] maybe just straight across per usd

[bondLady] we dont know what the rate is there giving but it cant be much because the exchange rate is still 1170

[bondLady] but these traders know there is about to be a change

[bondLady] an the poor iraqis only see that they know there going to get a smaller currency with out the 000 on them

[bondLady] so imo these traders are kind of rushing these people

[bondLady] hurry hurry while u can still get some money before they drop the zeros

[bondLady] come on over an ill give u usd for your worthless currency

[bondLady] an the people knowing ramadan is upon them where they have to spend more than normal

[bondLady] think there getting a good deal cause they know what they can buy an how much with the usd

[bondLady] but imo the traders are basically robbing the iraqs of there 000 notes by making them believe its pretty much worthless an will be worth ---less

[bondLady] when they bring out the lower denoms

[bondLady] let me grab another part of this article

[bondLady] traders the opportunity who make a living on such stages are active in damaging the Iraqi economy and raise the crisis between the people who started many of them converts from its own funds to the U.S. currency, an approach that is almost universal in Iraqi markets you are looking for safety in the maintenance of its financial resources by turning them into dollars and then deal with the new Iraqi currency, Valqnaah that prevail in the market now, that the process of replacement of zeros of the Iraqi currency, which is moving the government seeking to implement it during the period between this month and the end of this year.

[bondLady] and by putting more usd into the economy when there trying to dedollarize hurts the economy

[bondLady] they want to dry up the 000 notes not to have them horded

[bondLady] an thats what these traders are doing

[bondLady] there going to make a run of more usd in the markets hurting them when it should be using iqd

BondLady] and the traders are holding onto these 000 notes because they know there fixing to go up in value

[bondLady] so then my favorite line to this whole article is this

[bondLady] Valqnaah that prevail in the market now, that the process of replacement of zeros of the Iraqi currency, which is moving the government seeking to implement it during the period between this month and the end of this year

[bondLady] remember when we talked to david from revalue.us , davids friend from iraq tariq

[bondLady] and tariq didnt think or even have hope we would see an rv for at least 5 years

[bondLady] then all of a sudden hes all excited and says it could be in a few months or by the end of the year

[bondLady] well when u see this line

[bondlady] between this month an the end of the year

[bondLady] it kinda makes u understand why these people would an will be coming out of the wood work

[bondLady] to rob the poor unsuspecting iraqis who dont know any better of their 000 notes

[bondLady] because these crooks an traders know very well the iqd is soon to rise in spending power such as an rv for us but spending power for iraq

[bondLady] so im sure we will see alot more of these type of things the closer we get to the rv

[bondLady] and i really did like seeing between this month and the end of this year

[bondLady] yes thats a 6 month period but just think about it from now to the end of the year

[bondLady] no one knows the rv date NO ONE

[bondLady] but i sure do like thinking it could happen before ramadan begins

[bondLady] but no matter what i aint goin no where till it does

[bondLady] i hope this has helped an i hope ive been correct in my thoughts

[bondLady] drops the mic an walks off

[Munsch]

This process has affected and three days ago at the level of trading of the currencies in central Iraq, but are invisible to this moment, but will cause major problems on the economic level for the next period.

That is the part I like.

[2fast4u2c]

Munsch....sounds like its done but we cant see it yet.....I hope its not a f'in LOP.

[Danneedsrvnow]

Munsch....sounds like its done but we cant see it yet.....I hope its not a f'in LOP.

I agree!

[coldwarvet]

I think it's pretty clear from this article (thanks for the post, BTW!) that the Iraqi people are not and would not be happy AT ALL with Mohammed Saleh's "project to raise the three zeroes." Whether their interpretation is correct or not, it seems they view dropping the three zeroes as a loss to them.

And this is one more example of why a currency revaluation involves much more than just changes to a balance sheet. Given the way the GOI and CBI collectively have handled this, they may have hamstrung themselves with regard to how they can now proceed. IMO, the more anger and frustration is exhibited on the Iraqi street, the less likley it is that they will RD. WIth the currency hoarding going on, the CBI may have backed itself into a corner, where an RV would be the only way out.

[cabbage]

OK. If 1:1, what is end result of having 1M dinar? thnx

[cisole]

OK. If 1:1, what is end result of having 1M dinar? thnx

1000000 dinar = 1000000 USD - 35% capital gains = 650000 USD left over - bank spread and fees = ???

[ToothyGrins4U]

It's easy... try this... the fit is about to hit the shan! There, that wasn't to hard now was it???

Maybe the "smoke and mirrors" has backfired and fooled even the Iraqi's ... or maybe that is what the leadership wants to keep the people broke so the will keep going to work on Monday mornings!???

"The defecation is increasingly near to impacting the rotary oscillator" - How's that for ya?

[Poker]

Traders collect and store a currency U.S. dollar in preparation for phase determine how zeros of the Iraqi currency

07/20/2011 0:00

The future of Iraq / special

With the approach of the countdown to reduce the zeros of the Iraqi currency by three zeros to the bottom step of the Central Bank of Iraq to rearrange the rules of the Iraqi economy, began to supported groups inside the Green Zone, assigned to currency traders collect and store a currency U.S. dollar in preparation for phase determine how zeros of the Iraqi currency and Tbdlleha to become a thousand dinars , JD and access to the numbers Alumblyaria that invaded the culture of the Iraqi economy.

Source from inside the Green Zone, says that some of the condos with leaders and officials and officers turned to the banks not matching the specifications of the storage of financial because they were filled with U.S. currency the dollar, a gain is added to the dealers that it exceeds the profit rate of 100%, where it will be the amount sold by the Iraqi currency and buyer of U.S. currency The dollar is the same amount that it will buy the Iraqi dinar once again after the whistle of the Iraqi currency.

This process has affected and three days ago at the level of trading of the currencies in central Iraq, but are invisible to this moment, but will cause major problems on the economic level for the next period.

Traders the opportunity who make a living on such stages are active in damaging the Iraqi economy and raise the crisis between the people who started many of them converts from its own funds to the U.S. currency, an approach that is almost universal in the Iraqi markets are looking for safety in the maintenance of its financial resources by turning them into dollar and then deal with the new Iraqi currency, Valqnaah that prevail in the market now, that the process of replacement of zeros of the Iraqi currency, which goes to the government seeking its implementation during the period between the end of this month, and year.

It is expected to break out conflicts and problems in society and in the Iraqi economy if the project was carried out without the education and promotion by the government in the media and open channels of its own government to alter the currency and not to rely on the black market and banking companies, which accuses currently being fed the subject of rumors about what will happen with if the project was implemented as a means to increase the chances of speculation by raising the purchase price of the dollar against the Iraqi dinar in the flagrant exploitation of public ignorance of the fact that a step the central bank.

Economic circles demanded an integrated program for public awareness and transparent display of the program delete the zeros because these decisions are not just purely financial decisions, but is located in the heart of the daily life of citizens.

http://www.almustakb...o.aspx?AuthID=1

Regards,

Poker

[PhxSunsFan]

WHOOP WHOOP

[20MillionDinar]

1000000 dinar = 1000000 USD - 35% capital gains = 650000 USD left over - bank spread and fees = ???

The 35% "automatic" capital gains is really not necessary to put into this equation.

If cashing in through a corporation, trust, llc, or any other business entity it could be different. Business expenses will come into play which will in turn result in "lower profits" for the company.

1:1 means that 1 Million Dinars equal 1 Million Dollars. Period.

Bank spreads, taxes, etc... are things that people need to figure out when the time comes. Unless of course you have already planned ahead.