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Dinar News Good NEWS Article!!!!!

Jwdwrd

By Jwdwrd,
in Iraq & Dinar Related News

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Jwdwrd Newbie

Jwdwrd

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I am reposting as I thought this was good!!! Some poo poo'd it- but I feel we are in great shape here!

Also- here's the link:

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://al-iraqnews.net/new/local/54531.html&rurl=translate.google.com&twu=1

11/2/2010 3:51 pm Aswat Al Iraq

Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar.

Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal.

According to an official source at the ministry The proposal to raise three zeroes from the currency will be in accordance with the right monetary policy is not gradual, as happened in Turkey and this policy will raise the monetary value of the Iraqi currency and will of the Iraqi dinar Strength of cash against all currencies.

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lancer22 Newbie

lancer22

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I am reposting as I thought this was good!!! Some poo poo'd it- but I feel we are in great shape here!

Also- here's the link:

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://al-iraqnews.net/new/local/54531.html&rurl=translate.google.com&twu=1

11/2/2010 3:51 pm Aswat Al Iraq

Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar.

Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal.

According to an official source at the ministry The proposal to raise three zeroes from the currency will be in accordance with the right monetary policy is not gradual, as happened in Turkey and this policy will raise the monetary value of the Iraqi currency and will of the Iraqi dinar Strength of cash against all currencies.

this is a great post. thx jw or wr...D whichever. translation sucks but the core of the article is positive. thx LC

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Jwdwrd Newbie

Jwdwrd

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Ok- I am hoping my research is wrong- but this may be the dreaded "something errr other" that we dont discuss anymore in chat at least. I cross checked a few other articles and perhaps I was too giddy on this one- although I still hope I am/was right about it upon first read and zeros being taken from value as in off the .000000086. BUT some other things seriously pointing elsewhere darnit- So many intelligent peeps saying it means what we don't want :0( My head hurts!

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scottiraq04 Newbie

scottiraq04

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I am reposting as I thought this was good!!! Some poo poo'd it- but I feel we are in great shape here!

Also- here's the link:

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://al-iraqnews.net/new/local/54531.html&rurl=translate.google.com&twu=1

11/2/2010 3:51 pm Aswat Al Iraq

Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar.

Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal.

According to an official source at the ministry The proposal to raise three zeroes from the currency will be in accordance with the right monetary policy is not gradual, as happened in Turkey and this policy will raise the monetary value of the Iraqi currency and will of the Iraqi dinar Strength of cash against all currencies.

Ok, we now have 2 articles claiming what the Minister of Finance said...Forum Members are claiming that one article states RV and then Redenomination (LOP), and now we have this article that clearly shows Redenomination (LOP) and then an appreciation or small RV after. Well, it can't be both...take your pick and argue from there.

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wusObie Newbie

wusObie

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I am reposting as I thought this was good!!! Some poo poo'd it- but I feel we are in great shape here!

Also- here's the link:

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://al-iraqnews.net/new/local/54531.html&rurl=translate.google.com&twu=1

11/2/2010 3:51 pm Aswat Al Iraq

Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar.

Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal.

According to an official source at the ministry The proposal to raise three zeroes from the currency will be in accordance with the right monetary policy is not gradual, as happened in Turkey and this policy will raise the monetary value of the Iraqi currency and will of the Iraqi dinar Strength of cash against all currencies.

It appears in this statement that Iraq is trying to distinguish itself from Turkey. Here is what Turkey did (source is Wikipedia):

Because of the chronic inflation experienced in Turkey from the 1970s through to the 1990s, the lira experienced severe depreciation in value. Turkey has had high inflation rates compared to developed countries but has never suffered hyperinflation. From an average of 9 lira per U.S. dollar in the late 1960s, the currency came to trade at approximately 1.65 million lira per U.S. dollar in late 2001. This represented an average inflation of about 38% per year.

1966

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