****Response from zero article i got***

[easyrider]

Sunday, 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.

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[/quote]

They are saying it will be an exchange different then ours for just there citizens in country only. The citizens will exchange there big notes for small notes. So 25,000 will be exchanged for 25 dinars. or they are saying the local stores and shops will just adjust there rates, example is if they sell something for 1000 dinars they just drop three digits to equal one dinar. This does not have to do with us and when we exchange our dinars, just in country in Iraq.

Edited August 2, 2011 by easyrider

[Sirius]

Sunday, July 31, 2011

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».

They are saying it will be an exchange different then ours for just there citizens in country only. The citizens will exchange there big notes for small notes. So 25,000 will be exchanged for 25 dinars. or they are saying the local stores and shops will just adjust there rates, example is if they sell something for 1000 dinars they just drop three digits to equal one dinar. This does not have to do with us and when we exchange our dinars, just in country in Iraq.

Thanks Easy, but how will exchanging the notes for another reduce the actual number of banknotes in circulation?

[truthful1]

you cant just lop in country and not outside. whatever is done with this currency, will be done across the globe. Talk about the possibility for mass- corruption.

[jmw]

Ha ha....if that were the case then all Iraqi's would go to Kuwait to exchange.....

[librapeace]

Ha ha....if that were the case then all Iraqi's would go to Kuwait to exchange.....

LOL exactly

[cooked]

It would be mass chaos.

[DAME1]

Their using the greenback over there..........

[Realdinar]

It would be mass chaos.

True, and even more chaotic with a lop.

[Dalite]

True, and even more chaotic with a lop.

Please explain that to us.

Use your own words for what problems you anticipate, and feel free to add links.

Would it be more, or less chaotic than the introduction of the notes we have now, which was a similar operation of introducing new currency and adjusting prices?

We are all here to try and understand the process better, and you obviously have some personal knowledge you wish to share.

Please enlighten us...

[umbertino]

Ha ha....if that were the case then all Iraqi's would go to Kuwait to exchange.....

Right.....

you cant just lop in country and not outside. whatever is done with this currency, will be done across the globe. Talk about the possibility for mass- corruption.

Agreed, obviously..... That doesn't make any sense.

[Dalite]

OH BROTHER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Does it mean that much to you lobsters to be right?

'nananabooboo it lop and were in doodoo, I got it right.''

YOUR NOT RIGHT.

time will tell and you will be looking pretty, well silly.

Touchy Today.

You are correct, time will tell.

I hope for a RV, but acknowledge the alternative is possible.

[paj1985]

Please explain that to us.

Use your own words for what problems you anticipate, and feel free to add links.

Would it be more, or less chaotic than the introduction of the notes we have now, which was a similar operation of introducing new currency and adjusting prices?

We are all here to try and understand the process better, and you obviously have some personal knowledge you wish to share.

Please enlighten us...

TOSSER !!

[Dalite]

Not at all, just don't like things I can't get my head around.

And buying into something you dont believe in is, well,

mind boggling.

Seriously, I do understand the mind boggling part.

It doesn't seem right to go down in order to go up. On the surface, it defies logic.

I will leave it at that, on a pleasant note.

Here is something else that will boggle the mind..

When you are on a safe stretch of road, with no traffic, slow down to around 30, take your hands off the handlebars, and with your left fingertip, gently push the left grip forward, like you were starting to turn to the right.

Stay upright, don't lean, and don't panic.

You will be pushing to the right, and the bike will start going to the left.

Now, that is mind boggling. As long as the triple tree has not been modified, it will happen that way...

Ride Safe, and watch for the cagers.

[Realdinar]

Please explain that to us.

Use your own words for what problems you anticipate, and feel free to add links.

Would it be more, or less chaotic than the introduction of the notes we have now, which was a similar operation of introducing new currency and adjusting prices?

We are all here to try and understand the process better, and you obviously have some personal knowledge you wish to share.

Please enlighten us...

Sorry I struck a nerve there, loppy. Im not sure why im responding to your mess there, because I am not going to pretend to have all the answers. I have an opinion, Last time I checked this is the opinion section. Just my opinion, my two cents, like the section description says. I was not aware this section was set up for a harvard debate session. May I ask a question? Do you always appear to be so matter of fact? You claim to look at all sides but your language does appear you are definite Iraq will lop.

Maybe Iran will complete their redenom first, since iraq seems to be delaying. Then you guys will have more ammo.

[delta22]

Naseer Goldfinch ? What an Egyptian Jew posted this from Iraq ?

[Darren77th]

I don't think anyone went into this investment when they did not believe in it. What happens is commonsense sets in and an inevitable knowledge that comes with ones own reasearch changes the out look. Its not that they want to be right, because who really wants to lose the money they invested. Everyone has their own opion as to what they believe will happen. Just because it may not match yours does not make it any less valid and certainly does not justify giving someone a negative mark on their posting. All we can do is hope and pray. Id be happy just to get the money I invested back

[Realdinar]

I don't think anyone went into this investment when they did not believe in it. What happens is commonsense sets in and an inevitable knowledge that comes with ones own reasearch changes the out look. Its not that they want to be right, because who really wants to lose the money they invested. Everyone has their own opion as to what they believe will happen. Just because it may not match yours does not make it any less valid and certainly does not justify giving someone a negative mark on their posting. All we can do is hope and pray. Id be happy just to get the money I invested back

I agree no one wants to lose money, and I like to read everyones opinion. I apologize to dalite, for calling him loppy.

P.S. Next time I will just overlook his undertones of superiority in his comments.

P.S.S. To prove my sincerity of my apology, I will give dalite a +1 positive.

[Darren77th]

Now don't we all feel better. I didn't mean to pile on you guys by saying your giving out negatives but there was a post earlier and I forget which one where people gave a guy a negative 10. Felt bad

[Dalite]

I agree no one wants to lose money, and I like to read everyones opinion. I apologize to dalite, for calling him loppy.

P.S. Next time I will just overlook his undertones of superiority in his comments.

P.S.S. To prove my sincerity of my apology, I will give dalite a +1 positive.

No problem, it's all good.

I am going to stop beating the drum, and try to respond to questions only.

Listen, loppy is probably one of the nicer things I have been called.

And FWIW, Saleh changed horses in mid stream today concerning big coin and 5 year process.

I am just as confused as anyone else...

Don't sweat the small stuff (it's all small stuf)