The abolition of the removal of three zeros from the currency

[DRV1804]

Sunday, July 31, 2011

BAGHDAD - Naseer Goldfinch

Iraqi Central Bank announced the completion of the preparation of a plan to replace the current banknotes after the abolition of 3 zeros of them, including 30 trillion dinars (26 billion dollars) is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.

The expert explained the first in the Central Bank of Iraq in favor of the appearance of Mohammed in an interview to «life» The replacement of the currency, as a response to fears of a major corruption of the process. He said: «Our problem lies in the current issue of the timing of replacement of the currency must be chosen as a date suitable to implement the project without obstacles».

Before, and the Central Bank announced its intention to raise three zeroes from the Iraqi dinar, after suffering from inflation and the decline during the nineties the past by economic sanctions, its value has tumbled to become the world today, about 1120 dinars per dollar.

The central bank adopted after 2003 a new mechanism to maintain the exchange rate of the dinar, is to create an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and transferred to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, which helped to raise value of the dinar over the past years more than 2000 points.

And as for «the size of the money supply or the size of cash flow by more than 30 trillion Iraqi dinars, equivalent to U.S. $ 26 billion». He said: «cash transactions regime in Iraq, after 2003, it became Mdolra, any market deal dinar and the dollar both, and this means a mass of cash in circulation in the market but in foreign currency».

Saleh continued: «we have in the accounts and that the Iraqi currency or monetary bloc total traded home and that would be replaced after the cancellation of zeros will be in the range of 30 trillion dinars, but its value against foreign currencies will remain constant. This means that the Iraqi dinar exchange rate now would amount to 1,200 dinars per dollar, and one ».

In regard to the most important variables that will come after the lifting of zeros, between the appearance of the «Central Bank of solid plan to rearrange the currency to reduce the number of banknotes in circulation, and this is positive. Here, the payments system would be easier to Iraq ».

Economists warned that the process of replacing the Iraqi currency after the lifting of zeros Schoppea operations by a major corruption due to structural inaccuracies of Iraqi banks. They emphasized that the processes of replacement of the former currency operations were accompanied by a major corruption cost the Iraqi economy a lot. But the appearance of favor answer by saying that «the process of replacing the currency in 2004, took place in exceptional circumstances, and the country under occupation and is administered by the Governor of an American civilian, but was a successful operation».

And sells the central bank through its daily auction, between 150 million and $ 190 million per day to clients of private banks and financial companies, a large proportion of them go Khawwalat external payment transactions of foreign trade.

And confirms the expert's central bank that «the application of the new project to raise three zeroes from the Iraqi dinar and the currency exchange, will be according to mechanisms scalable in the form is not felt by the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace it, and it remains only in the possession of the citizens of the trading day , and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar ».

He noted that the «Central» sought the expertise of countries have taken the same action, such as Turkey and Romania, as well as experts from the IMF.

http://www.daralhayat.com/portalarticlendah/292995

[redsand]

"The Completion of the Preparation"...I like that

[fnbplanet]

and it remains only in the possession of the citizens of the trading day , and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar ».

So, the currencies will coexist!

[easyrider]

and it remains only in the possession of the citizens of the trading day , and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar ».

So, the currencies will coexist!

that will trigger the RV!!!!!!!! god i hope this is done it sure sounds like they are ready.

We need those coins out NOW!.

Edited July 31, 2011 by easyrider

[bamagirl]

I am just not getting how this is good if 1000 dinars will be the same as 1 dinar, even if they co-exist it sonds like they aregonna have the same value. Pleae someone explain how this is good and ease my mind?!?!

[DRV1804]

I am just not getting how this is good if 1000 dinars will be the same as 1 dinar, even if they co-exist it sonds like they aregonna have the same value. Pleae someone explain how this is good and ease my mind?!?!

I started thinking the same thing?? Is this the RD? Making it 1000 dinar equal to 1 dinar?? Im right there w ya bamagirl!!

[hoopdog]

Really? This is the same article that came out a few days ago and has been recycled. This doesn't mean anything, so everyone can relax as nothing has been done, nor will it be done for some time now.

[truthful1]

Sunday, July 31, 2011

BAGHDAD - Naseer Goldfinch

Iraqi Central Bank announced the completion of the preparation of a plan to replace the current banknotes after the abolition of 3 zeros of them, including 30 trillion dinars (26 billion dollars) is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.

The expert explained the first in the Central Bank of Iraq in favor of the appearance of Mohammed in an interview to «life» The replacement of the currency, as a response to fears of a major corruption of the process. He said: «Our problem lies in the current issue of the timing of replacement of the currency must be chosen as a date suitable to implement the project without obstacles».

Before, and the Central Bank announced its intention to raise three zeroes from the Iraqi dinar, after suffering from inflation and the decline during the nineties the past by economic sanctions, its value has tumbled to become the world today, about 1120 dinars per dollar.

The central bank adopted after 2003 a new mechanism to maintain the exchange rate of the dinar, is to create an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and transferred to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, which helped to raise value of the dinar over the past years more than 2000 points.

And as for «the size of the money supply or the size of cash flow by more than 30 trillion Iraqi dinars, equivalent to U.S. $ 26 billion». He said: «cash transactions regime in Iraq, after 2003, it became Mdolra, any market deal dinar and the dollar both, and this means a mass of cash in circulation in the market but in foreign currency».

Saleh continued: «we have in the accounts and that the Iraqi currency or monetary bloc total traded home and that would be replaced after the cancellation of zeros will be in the range of 30 trillion dinars, but its value against foreign currencies will remain constant. This means that the Iraqi dinar exchange rate now would amount to 1,200 dinars per dollar, and one ».

In regard to the most important variables that will come after the lifting of zeros, between the appearance of the «Central Bank of solid plan to rearrange the currency to reduce the number of banknotes in circulation, and this is positive. Here, the payments system would be easier to Iraq ».

Economists warned that the process of replacing the Iraqi currency after the lifting of zeros Schoppea operations by a major corruption due to structural inaccuracies of Iraqi banks. They emphasized that the processes of replacement of the former currency operations were accompanied by a major corruption cost the Iraqi economy a lot. But the appearance of favor answer by saying that «the process of replacing the currency in 2004, took place in exceptional circumstances, and the country under occupation and is administered by the Governor of an American civilian, but was a successful operation».

And sells the central bank through its daily auction, between 150 million and $ 190 million per day to clients of private banks and financial companies, a large proportion of them go Khawwalat external payment transactions of foreign trade.

And confirms the expert's central bank that «the application of the new project to raise three zeroes from the Iraqi dinar and the currency exchange, will be according to mechanisms scalable in the form is not felt by the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace it, and it remains only in the possession of the citizens of the trading day , and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar ».He noted that the «Central» sought the expertise of countries have taken the same action, such as Turkey and Romania, as well as experts from the IMF.

http://www.daralhayat.com/portalarticlendah/292995

1000 old equals 1 new dinar. Thats a lop all the way. This article has a rough translation, but that part is cut and dry.

I am just not getting how this is good if 1000 dinars will be the same as 1 dinar, even if they co-exist it sonds like they aregonna have the same value. Pleae someone explain how this is good and ease my mind?!?!

This is not good news. Before they just mentioned deleting the zeroes, and people said well maybe there just removing them from circulation. But when you hear 1000 to 1 being broadcasted, that only means one thing.....

and thats not a straight up rv. I000 to 1, with the value remaining the same, theres no guru who can sidestep that information. Well truthfully, anyway.

[2fast4u2c]

IMO this is not good news, but lets wait and see.

[mrmcwhipit]

Could just be some major smoke right before it happens since he is saying it so many times,we will see?

[Nomadft]

I'm not a very smart man Jenny.......but even I can tell this doesn't sound good Goooooo RV????????

[easyrider]

dont freak out yet!!!!! there are so many translations and different article that contradict each other and its coming from saleh. How about lets wait and see the debate between sonny1 and JMW.

Could just be some major smoke right before it happens since he is saying it so many times,we will see?

yep. We shall see.

Edited July 31, 2011 by easyrider

[Alex38]

GO RV!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[truthful1]

dont freak out yet!!!!! there are so many translations and different article that contradict each other and its coming from saleh. How about lets wait and see the debate between sonny1 and JMW.

yep. We shall see.

the debate will be fun. How can anybody debate with a rv of 1 dollar, giving Iraq 50 trillion dollars in M2, with an Islamic Banking System, that doesnt use fractional reserve banking? I hope they go into that. Which means they must back up the M2 with there foreign reserves. Interesting to think about.

Edited July 31, 2011 by truthful1

[matlok12]

and thats not a straight up rv. I000 to 1, with the value remaining the same, theres no guru who can sidestep that information. Well truthfully, anyway.

Thank you!!!!! People want to get so upset and call people stupid names and how their negativity is infecting this site.....this is as clear as a RD can be....but Im sure gurus will spin this into what people want to hear.....thanks DRV for the post, your work is much appreciated!!

[AK47]

??????

[mrmcwhipit]

Haha here come the Dumper pumpers to help Saleh.

[Alex38]

Maybe we were all better off playing black jack in Vegas?

[matlok12]

Maybe we were all better off playing black jack in Vegas?

Dont know if thats better off......but the loss or gain of profit will be known in one night....

[dogtrainer55]

In country the large notes will lose the 000's until they are phased out. Outside of Iraq they will exchange for full value.

I am wondering if they are planning on waiting until after ramadan to implement this because they say that they want to do it at a time with no obstacles:

"Our problem lies in the current issue of the timing of replacement of the currency must be chosen as a date suitable to implement the project without obstacles"

If they went crazy and switched up the currency the day before ramadan everyone would be scrambling to figure out what was what during their holiday where everyone is out shopping and buying gifts.

Just a thought.

Edited July 31, 2011 by dogtrainer55

[truthful1]

Haha here come the Dumper pumpers to help Saleh.

Saleh is the deputy governor of the cbi. I guess, you all can think he's full of it, if you want. The main thing to take from Saleh, is that he is only speaking what the CBI wants him too.

And if all this talk was to throw people off, WHY NOT SAY ANYTHING AT ALL. Some better wake up and smell the coffee and throw out the kool-aid or there gonna be surprised.

[bamagirl]

Saleh is the deputy governor of the cbi. I guess, you all can think he's full of it, if you want. The main thing to take from Saleh, is that he is only speaking what the CBI wants him too.

And if all this talk was to throw people off, WHY NOT SAY ANYTHING AT ALL. Some better wake up and smell the coffee and throw out the kool-aid or there gonna be surprised.

I have not drank any dang koolaid. The thing is I paid their rate for their 25k notes, I expect to exchange it one day for their rate for a 25k note, not a 25 note, that is not what I bought.

[IowaDinar]

I am just not getting how this is good if 1000 dinars will be the same as 1 dinar, even if they co-exist it sonds like they aregonna have the same value. Pleae someone explain how this is good and ease my mind?!?!

Does not say that. It say the addition of 1 dinar.

[mrmcwhipit]

Saleh is the deputy governor of the cbi. I guess, you all can think he's full of it, if you want. The main thing to take from Saleh, is that he is only speaking what the CBI wants him too.

And if all this talk was to throw people off, WHY NOT SAY ANYTHING AT ALL. Some better wake up and smell the coffee and throw out the kool-aid or there gonna be surprised.

And the negative dumpster speaks again

[IowaDinar]

1000 old equals 1 new dinar. Thats a lop all the way. This article has a rough translation, but that part is cut and dry.

This is not good news. Before they just mentioned deleting the zeroes, and people said well maybe there just removing them from circulation. But when you hear 1000 to 1 being broadcasted, that only means one thing.....

and thats not a straight up rv. I000 to 1, with the value remaining the same, theres no guru who can sidestep that information. Well truthfully, anyway.

WRONG! a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar ».

Read more: http://dinarvets.com/forums/index.php?/topic/77625-the-abolition-of-the-removal-of-three-zeros-from-the-currency/#ixzz1ThJSQphz