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The CBI’s plan for reducing the Iraqi dinar


crystal1
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The CBI’s plan for reducing the Iraqi dinar

Posted: August 4, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

Tags: Central bank, Central Bank of Iraq, Economy of Iraq, Foreign exchange reserves, Iraq, Iraqi dinar, middle east, Radio Free Iraq

04.08.2011

The oil wealth and progress of the proceeds of abundant, secure the cover of the national currency with the Iraqi dinar has become one of the strongest currencies in the Middle East.

The central bank has the distribution of foreign exchange reserves in a basket of currencies like the dollar and the pound sterling and the Japanese yen as well as its reserve of gold so that the cover of the Iraqi dinar remains strong, regardless of fluctuations in the currency market.

Until the early eighties was the Iraqi dinar equivalent of more than three dollars U.S., but the damage to the Iraqi economy since the invasion of Kuwait at this time 21 years ago and subsequent wars and international sanctions, ensured all firing runaway inflation destroyed the value of the Iraqi dinar so that the price now spent more than a thousand dinars to the dollar.

Coupled with the erosion of the value of the currency and banking financial difficulties and administrative and accounting are still different, especially in trade and handle daily cash.

Faced with this situation since the central bank decided early in 2010 a plan to drop three zeros from the Iraqi currency nominal and pave the way for a gradual procedure that preserves the purchasing power and prevent the exposure of the Iraqi market to the economic turmoil hurt consumers.

Radio Free Iraq adviser met with the Central Bank of the appearance of Mohammed Saleh, who reviewed the falling value of the Iraqi dinar, referring to the deletion of zeros is part of a project to reform the management of the national currency.

The Chancellor said Mohammed Saleh, the burden posed by the mass cash payment system, as reflected in the revenue budget figures, for example, trillions. Mohammed Saleh pointed out that the draft dropping zeros from Iraqi dinar is based on optimistic forecasts the prospects for the development of the Iraqi economy in the coming period.

He revealed the central bank adviser said the bank plans to return to the coin because of their preferences on paper currency, especially from small groups that are not worth the trouble worth dealing with.

Mohammed Saleh refused to set a date to launch new dinar, saying that the management reform of the national currency a strategic project, but stressed that the central bank will be within a month of the implementation of an integrated plan to the Cabinet the last word in this regard.

Expert in the Ministry of Finance Crescent Miller predicted that the result in the deletion of zeros from lower inflation, noting that countries such as Turkey and Brazil prior to Iraq in this area.

Miller noted the characteristics of the new currency trading is expected after this procedure, including the adoption of the three languages ​​are Arabic, Kurdish and English, only the symbols of civilization and to prevent the use of pictures of any official.

The expert in the Ministry of Finance on the conviction that the process of replacing the currency will be smooth, especially as the old currency will remain in circulation alongside the new currency of time to allow a gradual withdrawal of steps does not affect the daily exchanges.

Economic analyst, Basil Jamil Antoine ruled economy is affected by changing money, but called for an awareness campaign to prepare public opinion and to the logistical procedures in financial institutions involved.

One benefit of the consumer citizen is expected to result directly delete the zeros of the possibility of using vending machines that are still unknown in Iraq because of the technical and practical difficulties in the mobilization of these ATMs in Iraqi dinars now.

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The CBI’s plan for reducing the Iraqi dinar

Posted: August 4, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

Tags: Central bank, Central Bank of Iraq, Economy of Iraq, Foreign exchange reserves, Iraq, Iraqi dinar, middle east, Radio Free Iraq

04.08.2011

The oil wealth and progress of the proceeds of abundant, secure the cover of the national currency with the Iraqi dinar has become one of the strongest currencies in the Middle East.

The central bank has the distribution of foreign exchange reserves in a basket of currencies like the dollar and the pound sterling and the Japanese yen as well as its reserve of gold so that the cover of the Iraqi dinar remains strong, regardless of fluctuations in the currency market.

Until the early eighties was the Iraqi dinar equivalent of more than three dollars U.S., but the damage to the Iraqi economy since the invasion of Kuwait at this time 21 years ago and subsequent wars and international sanctions, ensured all firing runaway inflation destroyed the value of the Iraqi dinar so that the price now spent more than a thousand dinars to the dollar.

Coupled with the erosion of the value of the currency and banking financial difficulties and administrative and accounting are still different, especially in trade and handle daily cash.

Faced with this situation since the central bank decided early in 2010 a plan to drop three zeros from the Iraqi currency nominal and pave the way for a gradual procedure that preserves the purchasing power and prevent the exposure of the Iraqi market to the economic turmoil hurt consumers.

Radio Free Iraq adviser met with the Central Bank of the appearance of Mohammed Saleh, who reviewed the falling value of the Iraqi dinar, referring to the deletion of zeros is part of a project to reform the management of the national currency.

The Chancellor said Mohammed Saleh, the burden posed by the mass cash payment system, as reflected in the revenue budget figures, for example, trillions. Mohammed Saleh pointed out that the draft dropping zeros from Iraqi dinar is based on optimistic forecasts the prospects for the development of the Iraqi economy in the coming period.

He revealed the central bank adviser said the bank plans to return to the coin because of their preferences on paper currency, especially from small groups that are not worth the trouble worth dealing with.

Mohammed Saleh refused to set a date to launch new dinar, saying that the management reform of the national currency a strategic project, but stressed that the central bank will be within a month of the implementation of an integrated plan to the Cabinet the last word in this regard.

Expert in the Ministry of Finance Crescent Miller predicted that the result in the deletion of zeros from lower inflation, noting that countries such as Turkey and Brazil prior to Iraq in this area.

Miller noted the characteristics of the new currency trading is expected after this procedure, including the adoption of the three languages ​​are Arabic, Kurdish and English, only the symbols of civilization and to prevent the use of pictures of any official.

The expert in the Ministry of Finance on the conviction that the process of replacing the currency will be smooth, especially as the old currency will remain in circulation alongside the new currency of time to allow a gradual withdrawal of steps does not affect the daily exchanges.

Economic analyst, Basil Jamil Antoine ruled economy is affected by changing money, but called for an awareness campaign to prepare public opinion and to the logistical procedures in financial institutions involved.

One benefit of the consumer citizen is expected to result directly delete the zeros of the possibility of using vending machines that are still unknown in Iraq because of the technical and practical difficulties in the mobilization of these ATMs in Iraqi dinars now.

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Hi crystal :)

Thank you for the article. As much as none of us want to accept what

they are stating, it does not get any clearer than this, unless of course we

believe they are lying, when in fact they are following history of currency management

AFTER periods of hyperinflation, hence the mention of other countries policies.

How this can continually get twisted, and made excuses for, is beyond me. It is the

classic steps according to historical data as to how countries manage their currencies

once inflation gets under reasonable control, which Dr. Shabibi has made an outstanding

accomplishment in doing so.

One can always follow a plan such as "Breitlings Insurance" convincing his followers to

spend even larger amounts of their hard earned dollars for "lower denoms" of 500 notes,

and that does absolutely nothing to "insure" anyone against the effects of a RD. ALL currency

will be affected, but Breitling has held a very successful campaign to sell lower denoms as

some form of insurance against what? If he refuses to tell the truth regarding what CBI has stated

why bother with this kind of scheme?

Unfortunately, the answer is both sad and simple: They found a way to extract yet more funds from

so many who do not or or not willing to comprehend how a RD works and how it MUST affect all

currency in circulation, in country or out of country. There is no way around it, and for him and his

group of "dinar summit" friends to even attempt this should be raising a ton of red flags to anyone

thinking along his terms. They are all in bed together and could care less about their followers other

than how much money do their followers have and how fast can they part them of their hard earned

dollars.

It is horrible what these folks are doing...does no one question WHY so many of these folks are now

jumping into the SALE of IQD??? Have we truly become so deluded that no one can see through this

plan they have constructed?

I am tired of seeing folks getting scammed and hurt by these showmen and snake oil salesman. These

guys are considered 'positive' to this speculation? If so, then there is a huge problem brewing. Please

do not buy into their schemes, do your own research into WHO is behind "treasury vault", and then ask

yourself the question...if the "rv" is so imminent, why are they all going into the sales of IQD? Just follow

the money trail, and you will answer your own question. The truth is ALWAYS at the end of the money trail.

All my best!

Jim

---

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Hi crystal :)

Thank you for the article. As much as none of us want to accept what

they are stating, it does not get any clearer than this, unless of course we

believe they are lying, when in fact they are following history of currency management

AFTER periods of hyperinflation, hence the mention of other countries policies.

How this can continually get twisted, and made excuses for, is beyond me. It is the

classic steps according to historical data as to how countries manage their currencies

once inflation gets under reasonable control, which Dr. Shabibi has made an outstanding

accomplishment in doing so.

One can always follow a plan such as "Breitlings Insurance" convincing his followers to

spend even larger amounts of their hard earned dollars for "lower denoms" of 500 notes,

and that does absolutely nothing to "insure" anyone against the effects of a RD. ALL currency

will be affected, but Breitling has held a very successful campaign to sell lower denoms as

some form of insurance against what? If he refuses to tell the truth regarding what CBI has stated

why bother with this kind of scheme?

Unfortunately, the answer is both sad and simple: They found a way to extract yet more funds from

so many who do not or or not willing to comprehend how a RD works and how it MUST affect all

currency in circulation, in country or out of country. There is no way around it, and for him and his

group of "dinar summit" friends to even attempt this should be raising a ton of red flags to anyone

thinking along his terms. They are all in bed together and could care less about their followers other

than how much money do their followers have and how fast can they part them of their hard earned

dollars.

It is horrible what these folks are doing...does no one question WHY so many of these folks are now

jumping into the SALE of IQD??? Have we truly become so deluded that no one can see through this

plan they have constructed?

I am tired of seeing folks getting scammed and hurt by these showmen and snake oil salesman. These

guys are considered 'positive' to this speculation? If so, then there is a huge problem brewing. Please

do not buy into their schemes, do your own research into WHO is behind "treasury vault", and then ask

yourself the question...if the "rv" is so imminent, why are they all going into the sales of IQD? Just follow

the money trail, and you will answer your own question. The truth is ALWAYS at the end of the money trail.

All my best!

Jim

---[/size

Jim, that was the most honest post I've ever read here and its the absolute truth! Sorry guys, that's the way its going down. Like it or not. Cling to your hope but don't buy any more. Jig is up. Finally can get on with my life and let this crape go.

Edited by DinarChiTown
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Jim, that was the most honest post I've ever read here and its the absolute truth! Sorry guys, that's the way its going down. Like it or not. Cling to your hope but don't buy any more. Jig is up. Finally can get on with my life and let this crape go.

I get your point, but do you really have to call this investment crape? That's not even a word.

Edited by Texas1
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Jim, that was the most honest post I've ever read here and its the absolute truth! Sorry guys, that's the way its going down. Like it or not. Cling to your hope but don't buy any more. Jig is up. Finally can get on with my life and let this crape go.

Thanks for the laugh.

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If he refuses to tell the truth regarding what CBI has stated

why bother with this kind of scheme?

Read more:

And why is it exactly that your involved? :unsure:

The possibility of a lop is very real, however, with things

going on the way they are in the financial world we who

believe in a strait up rv fell that this is far more than just an

rv. We fell that what we all are seeing is a worldwide transfer

of wealth. We know that we were not supposed to be in this

investment and therefor are just an annoyance at best.

It actually goes to the bible and what is said about the rise of

Babylon. So if the bible is wrong then you are correct, it most likely

will lop. On the other hand if it is a strait up rv you may want to reconsider

what God has to say about it.

Hope you are correct but that one word Turkey keeps coming out of their mouths.

For all of us i hope this does not happen as it did in Turkey.

When this happened there you could buy the same thing with 1 million Turkish lira or the same item with 1 new Turkish lira.

There was no confusion of the prices at the markets.

The banks would also exchange 1 million Turkish lira for only 1 new turkish lira after the RD or lop.

Only difference there was no one was even considering making money on this as it was just new currency being introduced in the country dropping the 6 zeros.

lets all hope its smoke and mirrors but this maybe is what will happen.

Our 25,000 note becomes worth the same on exchange as a 25 note or any combination equivalent lower denomination amount.

Really not what we all are hoping for.

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Hi crystal :)

Thank you for the article. As much as none of us want to accept what

they are stating, it does not get any clearer than this, unless of course we

believe they are lying, when in fact they are following history of currency management

AFTER periods of hyperinflation, hence the mention of other countries policies.

How this can continually get twisted, and made excuses for, is beyond me. It is the

classic steps according to historical data as to how countries manage their currencies

once inflation gets under reasonable control, which Dr. Shabibi has made an outstanding

accomplishment in doing so.

One can always follow a plan such as "Breitlings Insurance" convincing his followers to

spend even larger amounts of their hard earned dollars for "lower denoms" of 500 notes,

and that does absolutely nothing to "insure" anyone against the effects of a RD. ALL currency

will be affected, but Breitling has held a very successful campaign to sell lower denoms as

some form of insurance against what? If he refuses to tell the truth regarding what CBI has stated

why bother with this kind of scheme?

Unfortunately, the answer is both sad and simple: They found a way to extract yet more funds from

so many who do not or or not willing to comprehend how a RD works and how it MUST affect all

currency in circulation, in country or out of country. There is no way around it, and for him and his

group of "dinar summit" friends to even attempt this should be raising a ton of red flags to anyone

thinking along his terms. They are all in bed together and could care less about their followers other

than how much money do their followers have and how fast can they part them of their hard earned

dollars.

It is horrible what these folks are doing...does no one question WHY so many of these folks are now

jumping into the SALE of IQD??? Have we truly become so deluded that no one can see through this

plan they have constructed?

I am tired of seeing folks getting scammed and hurt by these showmen and snake oil salesman. These

guys are considered 'positive' to this speculation? If so, then there is a huge problem brewing. Please

do not buy into their schemes, do your own research into WHO is behind "treasury vault", and then ask

yourself the question...if the "rv" is so imminent, why are they all going into the sales of IQD? Just follow

the money trail, and you will answer your own question. The truth is ALWAYS at the end of the money trail.

All my best!

Jim

---

A most excellent post! Yours are always insightful and well thought out. Thank you!

:twothumbs:

It is interesting to me to see how many of the posting members are finally getting a handle on what the removal of 3 zeros actually means. And that there WILL be an entirely NEW currency created, printed, and put into circulation. The new currency will be 1000:1 where an old 1000 dinar note is exactly equal to a new 1 dinar note. Repricing in the stores will be very easy. Now if the old dinar note is worth approx $1 and the new dinar note is worth the old dinar note, that means the new dinar note will be worth approx $1 as well - as they have stated many times they want. This moves Iraq to a currency that will be close in value to the USD. So...1,000,000 old dinars will be equal to 1000 new dinars.

I've finally gotten past the pie-in-the-sky-riches train ride - much to my dismay - and am now understanding how removing zeros from a country's currency actually works. I am NOT happy I fell for all the 'riches' hype, but am resolved to at best breaking even. IF....big if.... there will be a way to turn in the old dinar notes here in the US.

The CBI has stated they plan on putting their plan into action in about a month. I'm thinking this will be the beginning steps to educate the people, design the new currency, get it printed and finally release the new currency into the market place. I believe there was mention in some articles that they hoped to get the new currency distributed early part of next year. I will hunt around for that article(s) from about 3 weeks ago.

Again, Jim, thanks for a great post. I totally agree.

:tiphat:

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Thanks for the post crystal.

Jim - well said dude. A recommendation to all....look into what and how MLM works (multi-level marketing). Without calling people out...there are obvious direct networking between some of these individuals....ESPECIALLY the "accumulate the lowers" dude. JIM...honestly, your post should be pinned and read by all. Bravo my friend.

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