Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

The abolition of the removal of three zeros from the currency


DRV1804
 Share

Recommended Posts

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.

Bamagirl,

Unfortunately, we were all promised exactly what you expect.

In reality, we were sold a very inflated currency that was worth about 850 Dollars for every million Dinars purchased.

Those that purchased yeahs ago, bought it cheaper when the Iraq side of the exchanger was a larger number.

If Iraq does a ReDenomination, of their currency, you would receive about 850 dollars for each million you hold.

You get back the same value for what you bought.

This stinks, it is not what the dealers promised, it is not what the gurus have told you daily.

It isn't what either you or I signed on for, and it's not over until it's over.

But if the CBI does what they have been saying for years, and almost daily in the past month, it may become a reality.

Maybe they will get their government and security in order and attract enough investment to balance some numbers, and go with another plan...

Remember, it is still a plan, and until Maliki decides to present it to Parliament, it is still just a plan.

It is good to understand what may happen, so you can possibly alter your plans, but right now, it is still just a plan...

If it is negative to understand and accept the possible outcomes, then I am negative.

If it is positive to ignore the possible outcomes, then, I would still want to know what may happen.

It is very possible for those who don't consider the possible outcomes to have some very unhappy experiences in this and any other endeavor they may undertake.

Again, it's not over 'till it's over...

  • Upvote 1
Link to comment
Share on other sites

Remember China folks. "There will be no RV." What did they do the next day? Stay grounded and absorb all the information/dissinformation as another step towards monetary gain in the IQD. GLTA and Go RV.

Tamiflyer...great point...do we know if China also talked about a RD and did not do so? As we hope CBI is talking about a RD, and just RVs instead?? God that would really ease alot of our minds?? <_<;)

Link to comment
Share on other sites

. To me this sounds like Iraq has 2 currency plans going which appears to be acceptable at this point. If however, Iraq were to develope, 2 more plans, this would create all sorts of a banking nightmares.

As it stands now I would not worry.

I can't see the U.S. or China going along with this especilly when their Gov. have purchased so many billions with the same outcome that many of us are expecting

  • Upvote 1
Link to comment
Share on other sites

1. I agree. the article posted has Selah describing a straight RD with no increase in IQD value. Rather a resetting of the currency minus zeros "for convenience". No debate amongst smart observers will change that.

2. While I hope for an RV, the talk is about RD. Yes, there are many old government documents stating that the rate should be 3.21 etc., but it never says how they might get there. It appears that the Big Dogs do not want Iraq to become so strong as to be able to dictate foreign policy (which is what insane wealth gives you.) So a modified version of the original plan with an RD and subsequent RV would then give Iraq a "humble" improvement of X3. (milk & cookies instead of steak and ice cream). Then the bankers will just tell Iraq to be grateful for any improvement and to shut up and eat your broccoli.

3. Why do folks keep thinking that the CBI operates under Islamic Banking law. The reason the were conquered (post Persia) was to allow the world bank and its owners to have a stake in Iraq's wealth (oil) and to settle a blood-feud between CIA/GHWB and CIA/Saddam. Not WMDs, not human rights.

4. Perhaps the original Cheney/Bush idea to get rich on IQD has fallen apart under new management. If the IMF/Wold Bankers now have the control of what they want, they don't need an RV - they control the oil. So maybe the RV notion was just "bait" to get the greedy Bush clan to invade and hand over power to the IMF. Now they might get the same surprise as the King of England got after Nathan Rothschild duped him?

Best to all!

-gg

  • Upvote 1
Link to comment
Share on other sites

Iraq: Towards the abolition of 3 zeros from banknotesPosted: July 31, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

Tags: Central Bank of Iraq, Currency, Economy of Iraq, exchange rate, International Monetary Fund, Iraq, Iraqi dinar, List of banks in Iraq 0Sunday, July 31, 2011

BAGHDAD – Naseer Goldfinch

Iraqi Central Bank (CBI) 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.

1312038311204212900.jpg 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 (economist) 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://bit.ly/r5eKwL

Related articles

  • Upvote 2
Link to comment
Share on other sites

And confirms the expert’s central bank (economist) 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://bit.ly/r5eKwL

Related articles

Sounds like this might hurt a little...

  • Upvote 1
Link to comment
Share on other sites

Iraq: Towards the abolition of 3 zeros from banknotesPosted: July 31, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

Tags: Central Bank of Iraq, Currency, Economy of Iraq, exchange rate, International Monetary Fund, Iraq, Iraqi dinar, List of banks in Iraq 0Sunday, July 31, 2011

BAGHDAD – Naseer Goldfinch

Iraqi Central Bank (CBI) 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.

1312038311204212900.jpg 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 (economist) 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://bit.ly/r5eKwL

Related articles

What is that building?

And..is that a form of the all seeing eye on top of it.? :o

Link to comment
Share on other sites

GLAD I HAVE ADD. I CAN'T GET PAST ANYTHING LONGER THAN A PARAGRAPH OR TWO. IF I DIDN'T THIS SITE MIGHT MAKE ME INTO A MENTAL VEGATABLE...I DO APPRECIATE SOME OF THE POSTS AND EXPLANATIONS FROM SOME BUT I AM LEARY OF MOST EXCEPT THAT WHICH COMES FROM ADAM....I PROBABLY WON'T GET TO SEE ANY COMMENTS TO THIS POST AND THATS PROBABLY GOOD..........GO RV

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.