Plans For The Iraqi Dinar Reorganization

[Neapolitan]

Plans for the Iraqi dinar reorganization

August 12th, 2011 09:54 am · Posted in NEWS (Iraq & World Currency)

Posted Today, 08:51 AM

Plans for the Iraqi dinar reorganization

by Samantha Dale

in Finance / Debt Management (submitted 2011-08-12)

The Iraqi dinar strengthened after the improvement of the oil field, becoming one of the most viable currencies in the Middle East.

The Iraqi Central Bank detains foreign currency reserves such as dollars, pounds and Japanese yen also gold reserve; thus, the value of the dinar is covered regardless of market fluctuations.

The dinar exchange rate was equivalent with more than three dollars during the eighties, but the economic declension caused by decades of wars and the increase of inflation led to the dinar depreciation.

Since 2010, the Central Bank established several procedures to increase the currency power and protect the Iraqi economy from the consumer’s chaos.

The CBI adviser, Mohammed Saleh said that the deletion of zeros from the currency was part of the reforming project, which aimed the national currency management and the economic improvement. He refused to disclose the date when CBI would launch the new dinar citing the complex procedure that the process involves. He only revealed that the Central Bank would transmit its plan to the Cabinet within a month.An expert of the Ministry of Finance, Miller, affirmed that the deletion process would reduce the high rate of inflation giving as example countries such as Turkey or Brazil.

Miller pointed out that the replacement process would be gradually, the new currency circulating alongside with the old dinars. Therefore, the withdrawal of the old currency will not affect the daily exchanges. Although, the economic analyst, Basil Jamal Antoine stated that the restructuring would cause confusion among citizens. Therefore, it should implement a campaign to prepare citizens and financial institutions.

Furthermore, economists criticized the Iraqi banking sector which was not able to deal with investors expectations. They added that the private sector worked after the Central Bank rules and laws leading to the limitation of their services.

The Director of Waka Bank, Samarrai stressed that the Iraqi banking sector could not compete with international banks due to the lack of human and material resources. These gaps prevent the opening of branches of foreign banks in the country. The opening of these branches could influence the economy and the Iraqi dinar revaluation.

Iraq recorded lately substantial improvement, especially in the oil sector, and would use these benefits to cover the Iraqi dinar value. The dinar has already become one of the most powerful currencies in the Middle East. Nevertheless, there are still problems between Iraq and Kuwait concerning the common border and the establishment of the Mobarak port. Franco Frattini, the Italian Foreign Minister also expressed his desire to resolve differences between these two countries establishing the balance in the region.

According to the Kuwaiti Qabas newspaper, Kuwait announced its decision to stop building 60 piers in the Port of Mobarak. This decision will calm Iraqi authorities, especially as the marine life will not suffer any changes. Therefore, the goods exchange including the inflation will not be negatively affected by the failure of the fourth stage of the port establishment.

Furthermore, Iraq denied the establishment of a nuclear station on the border with Kuwait. The Undersecretary of the Minister of Foreign Affairs of Iraq, Alabawi stated for the Kurdish news agency that there were only rumors and the two countries did not formally reveal the decision of creating a nuclear power station. He stressed that this action would damage the Iraqi environment.

Following these events, the Committee announced that the Council of Ministers prepared a draft law of oil and gas field instead of establishing a law targeting the dinar revalue.

The head of the Energy Committee, the Deputy Prime Minister, Hussein al-Shahristani stated that they completed the draft law and would send it to the Prime Minister to make the last adjustments.

Iraq represents one of the most vital countries in the gas and oil-production, including the soil and subsoil resources. Therefore, it needs a law to protect the oil and gas processing also its transport and distribution. The oil sector brings many benefits to the country representing the most important support in the Iraqi economy and the increase of the dinar value.

The Iraqi dinar strengthened after the improvement of the oil field, becoming one of the most viable currencies in the Middle East.

The Iraqi Central Bank detains foreign currency reserves such as dollars, pounds and Japanese yen also gold reserve; thus, the value of the dinar is covered regardless of market fluctuations.

The dinar exchange rate was equivalent with more than three dollars during the eighties, but the economic declension caused by decades of wars and the increase of inflation led to the dinar depreciation.

Since 2010, the Central Bank established several procedures to increase the currency power and protect the Iraqi economy from the consumer’s chaos.

The CBI adviser, Mohammed Saleh said that the deletion of zeros from the currency was part of the reforming project, which aimed the national currency management and the economic improvement. He refused to disclose the date when CBI would launch the new dinar citing the complex procedure that the process involves. He only revealed that the Central Bank would transmit its plan to the Cabinet within a month.

An expert of the Ministry of Finance, Miller, affirmed that the deletion process would reduce the high rate of inflation giving as example countries such as Turkey or Brazil.

Miller pointed out that the replacement process would be gradually, the new currency circulating alongside with the old dinars. Therefore, the withdrawal of the old currency will not affect the daily exchanges. Although, the economic analyst, Basil Jamal Antoine stated that the restructuring would cause confusion among citizens. Therefore, it should implement a campaign to prepare citizens and financial institutions.

Furthermore, economists criticized the Iraqi banking sector which was not able to deal with investors expectations. They added that the private sector worked after the Central Bank rules and laws leading to the limitation of their services.

The Director of Waka Bank, Samarrai stressed that the Iraqi banking sector could not compete with international banks due to the lack of human and material resources. These gaps prevent the opening of branches of foreign banks in the country. The opening of these branches could influence the economy and the Iraqi dinar revaluation.

Iraq recorded lately substantial improvement, especially in the oil sector, and would use these benefits to cover the Iraqi dinar value. The dinar has already become one of the most powerful currencies in the Middle East. Nevertheless, there are still problems between Iraq and Kuwait concerning the common border and the establishment of the Mobarak port. Franco Frattini, the Italian Foreign Minister also expressed his desire to resolve differences between these two countries establishing the balance in the region.

According to the Kuwaiti Qabas newspaper, Kuwait announced its decision to stop building 60 piers in the Port of Mobarak. This decision will calm Iraqi authorities, especially as the marine life will not suffer any changes. Therefore, the goods exchange including the inflation will not be negatively affected by the failure of the fourth stage of the port establishment.

Furthermore, Iraq denied the establishment of a nuclear station on the border with Kuwait. The Undersecretary of the Minister of Foreign Affairs of Iraq, Alabawi stated for the Kurdish news agency that there were only rumors and the two countries did not formally reveal the decision of creating a nuclear power station. He stressed that this action would damage the Iraqi environment.

Following these events, the Committee announced that the Council of Ministers prepared a draft law of oil and gas field instead of establishing a law targeting the dinar revalue.

The head of the Energy Committee, the Deputy Prime Minister, Hussein al-Shahristani stated that they completed the draft law and would send it to the Prime Minister to make the last adjustments.

Iraq represents one of the most vital countries in the gas and oil-production, including the soil and subsoil resources. Therefore, it needs a law to protect the oil and gas processing also its transport and distribution. The oil sector brings many benefits to the country representing the most important support in the Iraqi economy and the increase of the dinar value.

http://goarticles.com/article/Plans-for-the-Iraqi-dinar-reorganization/5140136/

[E A Poe]

Iraq represents one of the most vital countries in the gas and oil-production, including the soil and subsoil resources. Therefore, it needs a law to protect the oil and gas processing also its transport and distribution. The oil sector brings many benefits to the country representing the most important support in the Iraqi economy and the increase of the dinar value.

Sounds really good!

[BruceV]

So in a month.. the plans go to cabinet. Then im sure they will have to vote. This proves that so many pumper are Completely and utterly full of LOVE.

Edited August 12, 2011 by Markinsa
Language: Nice Try :)

[RICK C]

ONLY TIME WILL TELL,But it will be interesting to see the final vote.lets hope it is in our favor.

[LS1Hawk]

Looks like its gonna be at least another couple months with the way things are going. I think I need a vacation from all the Hype.

[edbeach]

So in a month.. the plans go to cabinet. Then im sure they will have to vote. This proves that so many pumper are Completely and utterly full of LOVE

Correct , you can see how quick they are to accomplish a task. It takes forever with meeting after meeting to do anything. Its like a dog chasing its tail. These people do not know the meaning of moving quickly and solving the task on hand without have more meetings on this.

As far as these so called guru's they know no more than you and I. to become a guru all you have to do is read and then make a prediction of when it will happen. They are just trying to sell more dinars with their groups, how do you think they stay in business by pumping their people to buy more. What a way to make money. This is just my opinion

Edited August 12, 2011 by Markinsa
Language in Quote

[countryroads]

MEETINGS ARE WHERE YOU GO TO DISCUSS WHAT YOU SHOULD BE OUT THERE DOING RIGHT NOW. IT IS JUST A RECESS FOR THOSE IN POWER. THE SAD PART IS THAT THEY DON'T THINK WE SEE THIS. ANYBODY IN A MEETING IS NOT WORKING. LOOK AT OUR GOVERNMENT .

Edited August 12, 2011 by countryroads

[OregonHopeful]

This doesn't appear to be coming from a "news" source. It is an article on an article site "Go Articles"

take with a grain of salt

[BlueOrchid919]

So in a month.. the plans go to cabinet. Then im sure they will have to vote. This proves that so many pumper are Completely and utterly full of "LOVE"

You got it.

Even after the proposal goes to the Council for review, there may still be amendments/changes. Once the Council gives approval, it then goes to Parliament for approval and vote. They may have amendments/changes. Once ratified by Parliament, the new currency gets printed/minted, while the people get educated and banks get readied.

Somewhere on this board are some articles that give a very brief timeline (dates):

Proposal to Council within a month (that was about 2 weeks ago - hope they mean end August)

Final Parliament approval expected by year end which begins the educating/preparing phase.

Roll out of new currency/coins is anticipated by mid year next year.

Fully implemented new currency to be completed in 3 years (don't know if they mean from date of approval or date of roll out).

If someone can find those 2-3 articles and post them again, it would be greatly appreciated. I'm not overly clever at finding stuff on this huge board.

Edited August 12, 2011 by BlueOrchid919

[armondtoth]

Plans for the Iraqi dinar reorganization

August 12th, 2011 09:54 am · Posted in NEWS (Iraq & World Currency)

Posted Today, 08:51 AM

Plans for the Iraqi dinar reorganization

by Samantha Dale

in Finance / Debt Management (submitted 2011-08-12)

The Iraqi dinar strengthened after the improvement of the oil field, becoming one of the most viable currencies in the Middle East.

The Iraqi Central Bank detains foreign currency reserves such as dollars, pounds and Japanese yen also gold reserve; thus, the value of the dinar is covered regardless of market fluctuations.

The dinar exchange rate was equivalent with more than three dollars during the eighties, but the economic declension caused by decades of wars and the increase of inflation led to the dinar depreciation.

Since 2010, the Central Bank established several procedures to increase the currency power and protect the Iraqi economy from the consumer’s chaos.

The CBI adviser, Mohammed Saleh said that the deletion of zeros from the currency was part of the reforming project, which aimed the national currency management and the economic improvement. He refused to disclose the date when CBI would launch the new dinar citing the complex procedure that the process involves. He only revealed that the Central Bank would transmit its plan to the Cabinet within a month.An expert of the Ministry of Finance, Miller, affirmed that the deletion process would reduce the high rate of inflation giving as example countries such as Turkey or Brazil.

Miller pointed out that the replacement process would be gradually, the new currency circulating alongside with the old dinars. Therefore, the withdrawal of the old currency will not affect the daily exchanges. Although, the economic analyst, Basil Jamal Antoine stated that the restructuring would cause confusion among citizens. Therefore, it should implement a campaign to prepare citizens and financial institutions.

Furthermore, economists criticized the Iraqi banking sector which was not able to deal with investors expectations. They added that the private sector worked after the Central Bank rules and laws leading to the limitation of their services.

The Director of Waka Bank, Samarrai stressed that the Iraqi banking sector could not compete with international banks due to the lack of human and material resources. These gaps prevent the opening of branches of foreign banks in the country. The opening of these branches could influence the economy and the Iraqi dinar revaluation.

Iraq recorded lately substantial improvement, especially in the oil sector, and would use these benefits to cover the Iraqi dinar value. The dinar has already become one of the most powerful currencies in the Middle East. Nevertheless, there are still problems between Iraq and Kuwait concerning the common border and the establishment of the Mobarak port. Franco Frattini, the Italian Foreign Minister also expressed his desire to resolve differences between these two countries establishing the balance in the region.

According to the Kuwaiti Qabas newspaper, Kuwait announced its decision to stop building 60 piers in the Port of Mobarak. This decision will calm Iraqi authorities, especially as the marine life will not suffer any changes. Therefore, the goods exchange including the inflation will not be negatively affected by the failure of the fourth stage of the port establishment.

Furthermore, Iraq denied the establishment of a nuclear station on the border with Kuwait. The Undersecretary of the Minister of Foreign Affairs of Iraq, Alabawi stated for the Kurdish news agency that there were only rumors and the two countries did not formally reveal the decision of creating a nuclear power station. He stressed that this action would damage the Iraqi environment.

Following these events, the Committee announced that the Council of Ministers prepared a draft law of oil and gas field instead of establishing a law targeting the dinar revalue.

The head of the Energy Committee, the Deputy Prime Minister, Hussein al-Shahristani stated that they completed the draft law and would send it to the Prime Minister to make the last adjustments.

Iraq represents one of the most vital countries in the gas and oil-production, including the soil and subsoil resources. Therefore, it needs a law to protect the oil and gas processing also its transport and distribution. The oil sector brings many benefits to the country representing the most important support in the Iraqi economy and the increase of the dinar value.

The Iraqi dinar strengthened after the improvement of the oil field, becoming one of the most viable currencies in the Middle East.

The Iraqi Central Bank detains foreign currency reserves such as dollars, pounds and Japanese yen also gold reserve; thus, the value of the dinar is covered regardless of market fluctuations.

The dinar exchange rate was equivalent with more than three dollars during the eighties, but the economic declension caused by decades of wars and the increase of inflation led to the dinar depreciation.

Since 2010, the Central Bank established several procedures to increase the currency power and protect the Iraqi economy from the consumer’s chaos.

The CBI adviser, Mohammed Saleh said that the deletion of zeros from the currency was part of the reforming project, which aimed the national currency management and the economic improvement. He refused to disclose the date when CBI would launch the new dinar citing the complex procedure that the process involves. He only revealed that the Central Bank would transmit its plan to the Cabinet within a month.

An expert of the Ministry of Finance, Miller, affirmed that the deletion process would reduce the high rate of inflation giving as example countries such as Turkey or Brazil.

Miller pointed out that the replacement process would be gradually, the new currency circulating alongside with the old dinars. Therefore, the withdrawal of the old currency will not affect the daily exchanges. Although, the economic analyst, Basil Jamal Antoine stated that the restructuring would cause confusion among citizens. Therefore, it should implement a campaign to prepare citizens and financial institutions.

Furthermore, economists criticized the Iraqi banking sector which was not able to deal with investors expectations. They added that the private sector worked after the Central Bank rules and laws leading to the limitation of their services.

The Director of Waka Bank, Samarrai stressed that the Iraqi banking sector could not compete with international banks due to the lack of human and material resources. These gaps prevent the opening of branches of foreign banks in the country. The opening of these branches could influence the economy and the Iraqi dinar revaluation.

Iraq recorded lately substantial improvement, especially in the oil sector, and would use these benefits to cover the Iraqi dinar value. The dinar has already become one of the most powerful currencies in the Middle East. Nevertheless, there are still problems between Iraq and Kuwait concerning the common border and the establishment of the Mobarak port. Franco Frattini, the Italian Foreign Minister also expressed his desire to resolve differences between these two countries establishing the balance in the region.

According to the Kuwaiti Qabas newspaper, Kuwait announced its decision to stop building 60 piers in the Port of Mobarak. This decision will calm Iraqi authorities, especially as the marine life will not suffer any changes. Therefore, the goods exchange including the inflation will not be negatively affected by the failure of the fourth stage of the port establishment.

Furthermore, Iraq denied the establishment of a nuclear station on the border with Kuwait. The Undersecretary of the Minister of Foreign Affairs of Iraq, Alabawi stated for the Kurdish news agency that there were only rumors and the two countries did not formally reveal the decision of creating a nuclear power station. He stressed that this action would damage the Iraqi environment.

Following these events, the Committee announced that the Council of Ministers prepared a draft law of oil and gas field instead of establishing a law targeting the dinar revalue.

The head of the Energy Committee, the Deputy Prime Minister, Hussein al-Shahristani stated that they completed the draft law and would send it to the Prime Minister to make the last adjustments.

Iraq represents one of the most vital countries in the gas and oil-production, including the soil and subsoil resources. Therefore, it needs a law to protect the oil and gas processing also its transport and distribution. The oil sector brings many benefits to the country representing the most important support in the Iraqi economy and the increase of the dinar value.

http://goarticles.com/article/Plans-for-the-Iraqi-dinar-reorganization/5140136/

Redenomination

The term “redenomination” refers either to a change in the number of zeros associated with a given currency, or it can apply to the introduction of a new currency. On January 1, 2005, Turkey slashed six zeroes from its currency. One million of the old Turkish lira converted to one of the new Turkish lira (Economist, August 2004) Before the redenomination, 1 euro equaled 1.8 million Turkish lira. After the redenomination, 1 euro equaled 1.8 new Turkish lira. In July 2008, Zimbabwe slashed ten zeroes from its currency (US Fed News Service, July 2008). At the time of Zimbabwe’s redenomination its currency was trading a 110 billion Zimbabwe currency to one U.S. dollar. When a currency is redenominated, balance sheets, debts, and financial portfolios are adjusted accordingly.

The introduction of the euro can be viewed either as the introduction of a new currency or a redenomination but it raised many redenomination issues. Debts and balance sheets in displaced European currencies had to be redenominated in terms of the Euro. Each government enjoyed certain autonomy in deciding the redenomination process for their own currencies. The French and Italian authorities decided that their debt would not have any decimal places after redenomination whereas German authorities used decimal places. The timetable allowed governments to implement redenomination anytime between 1999 and 2002.

More commonly, redenomination refers the removal of zeroes from a currency. There are several reasons why countries undertake redenomination. One obvious reason is that it simplifies the mathematics of currency transactions. Extra zeros put a burden on accounting and statistical records, data processing software, and payment systems. From political and psychological perspectives, slashing zeroes wipes out evidence of past hyperinflation and monetary chaos, and serves as a commitment from government that uncontrolled inflation is a thing of the past. Redenomination may represent the finishing touches on tough but successful economic reform measures. Less common is the case where governments use redenomination to confiscate resources. Laos only gave its citizens one day to exchange old currency for new currency in 1976. The Soviet Union in 1991 and Nicaragua in 1988 only gave citizens three days to swap old currency for new currency (Mosely, 2005). In these situations, some citizens will not succeed in getting their old, worthless currency exchanged for the new currency. The loss to the citizens left holding the old currency becomes revenue to the government.

Between 1960 and 2003, developing and transition economies redenominated currencies on 60 different occasions (Mosely, 2005). In 14 of these cases of currency redenomination, only one zero was removed. In nine cases six zeros were removed. The median redenomination removed three zeros. Nineteen countries redenominated only once, and ten countries redenominated twice. As of 2003, Brazil has redenominated six times, the former Yugoslavia/Serbia five times, and Argentina four times (Mosely, 2005). A few countries have added digits to their currency: South Africa, 1961; Sierra Leone, 1964; Ghana, 1965; Australia, 1966; the Bahamas, 1966; New Zealand, 1967; Fiji, 1969; the Gambia, 1965; Malawi, 1971; and Nigeria, 1973. Adding digits makes the currencies more comparable to a key currency such as the U.S. dollar. Triple digit inflation or higher often leads to redenomination, but not always.

Japan has debated redenomination for the yen. In 2008, the yen often traded around 110 yen per one U.S. dollar. The introduction of the euro prompted concern that the yen’s stature as an international currency might suffer from new competition. A sluggish Japanese economy in the 1990s encouraged Japanese policy makers to consider the advantages of redenomination. In 1999, the ruling Liberal Democratic Party formed a committee to evaluate the idea of removing two zeros from the yen.

Among highly industrialized countries, Korea has the highest exchange rate with the U.S. dollar. The U.S. dollar is equal to more than 1000 Korean won. South Korean Officials have also discussed the possibility of redenomination.

http://www.kredihesaplama.org/financialterms/redenomination.html

This is what Turkey and Brazil did

[SurfingTheDinarWave]

Plans for the Iraqi dinar reorganization

August 12th, 2011 09:54 am · Posted in NEWS (Iraq & World Currency)

Posted Today, 08:51 AM

Plans for the Iraqi dinar reorganization

by Samantha Dale

in Finance / Debt Management (submitted 2011-08-12)

The Iraqi dinar strengthened after the improvement of the oil field, becoming one of the most viable currencies in the Middle East.

The Iraqi Central Bank detains foreign currency reserves such as dollars, pounds and Japanese yen also gold reserve; thus, the value of the dinar is covered regardless of market fluctuations.

The dinar exchange rate was equivalent with more than three dollars during the eighties, but the economic declension caused by decades of wars and the increase of inflation led to the dinar depreciation.

Since 2010, the Central Bank established several procedures to increase the currency power and protect the Iraqi economy from the consumer’s chaos.

The CBI adviser, Mohammed Saleh said that the deletion of zeros from the currency was part of the reforming project, which aimed the national currency management and the economic improvement. He refused to disclose the date when CBI would launch the new dinar citing the complex procedure that the process involves. He only revealed that the Central Bank would transmit its plan to the Cabinet within a month.An expert of the Ministry of Finance, Miller, affirmed that the deletion process would reduce the high rate of inflation giving as example countries such as Turkey or Brazil.

Miller pointed out that the replacement process would be gradually, the new currency circulating alongside with the old dinars. Therefore, the withdrawal of the old currency will not affect the daily exchanges. Although, the economic analyst, Basil Jamal Antoine stated that the restructuring would cause confusion among citizens. Therefore, it should implement a campaign to prepare citizens and financial institutions.

Furthermore, economists criticized the Iraqi banking sector which was not able to deal with investors expectations. They added that the private sector worked after the Central Bank rules and laws leading to the limitation of their services.

The Director of Waka Bank, Samarrai stressed that the Iraqi banking sector could not compete with international banks due to the lack of human and material resources. These gaps prevent the opening of branches of foreign banks in the country. The opening of these branches could influence the economy and the Iraqi dinar revaluation.

Iraq recorded lately substantial improvement, especially in the oil sector, and would use these benefits to cover the Iraqi dinar value. The dinar has already become one of the most powerful currencies in the Middle East. Nevertheless, there are still problems between Iraq and Kuwait concerning the common border and the establishment of the Mobarak port. Franco Frattini, the Italian Foreign Minister also expressed his desire to resolve differences between these two countries establishing the balance in the region.

According to the Kuwaiti Qabas newspaper, Kuwait announced its decision to stop building 60 piers in the Port of Mobarak. This decision will calm Iraqi authorities, especially as the marine life will not suffer any changes. Therefore, the goods exchange including the inflation will not be negatively affected by the failure of the fourth stage of the port establishment.

Furthermore, Iraq denied the establishment of a nuclear station on the border with Kuwait. The Undersecretary of the Minister of Foreign Affairs of Iraq, Alabawi stated for the Kurdish news agency that there were only rumors and the two countries did not formally reveal the decision of creating a nuclear power station. He stressed that this action would damage the Iraqi environment.

Following these events, the Committee announced that the Council of Ministers prepared a draft law of oil and gas field instead of establishing a law targeting the dinar revalue.

The head of the Energy Committee, the Deputy Prime Minister, Hussein al-Shahristani stated that they completed the draft law and would send it to the Prime Minister to make the last adjustments.

Iraq represents one of the most vital countries in the gas and oil-production, including the soil and subsoil resources. Therefore, it needs a law to protect the oil and gas processing also its transport and distribution. The oil sector brings many benefits to the country representing the most important support in the Iraqi economy and the increase of the dinar value.

http://goarticles.com/article/Plans-for-the-Iraqi-dinar-reorganization/5140136/

Several sentences in this are taken from articles that been circulated in July 2011 and previously in August 2011...the key statements in this are these:

Following these events, the Committee announced that the Council of Ministers prepared a draft law of oil and gas field instead of establishing a law targeting the dinar revalue.

This statement tells us that the oil and gas law was put on the table ahead of the revalue in order to substantiate a value to the currency, this is good news but tells us that it was already supposed to be on the table and was delayed.

The next statement is this:

The head of the Energy Committee, the Deputy Prime Minister, Hussein al-Shahristani stated that they completed the draft law and would send it to the Prime Minister to make the last adjustments.

First of all this would not have any bearing due to the fact that it previously states in the article a higher energy ministry would be put in place than the existing, unless they are establishing that ministry with this draft law, otherwise it would contradict everything they voted on last week so this article is conjecture or a compilation of other articles of things that have already been done.

The next statement would be this one:

He only revealed that the Central Bank would transmit its plan to the Cabinet within a month.

This statement was in originally in an article that came out at the end of July 2011, the entire article told about the plan from start to finish of lifting the 3 0's and the revalue of the currency by Saleh who is Dr. Shabibi's spokes person. so within a month from the end of July would be by the end of August 2011 also in that article was left out of this one was the statement of fact by the IMF in August of 2010 that gave the CBI from August 2010 / August 2011 to have a plan of action passed by Parliament. Now in an article dated June 20, 2011 Shabibi stood in front of Parliament and asked for permission to revalue the currency that permission was granted the decisions were all agreed on by June 30th 2011 they were released from sanctions of chapter 7 at noon that same day and it was confirmed in a UN press conference July 19th, they were done with the research and development phase of everything including the CENSUS. now we are watching them implement everything. Implementation of things is the state of action so first you decide, you then agree, then you approve, finally you implement. As we watch this unfold they are getting everything that they agreed on at their deadline of June 30th, 2011 approved through parliament so they can implement it into their culture...and IMO they are moving light years faster than our US GOV ever would think about moving and with a much smaller GOI. They have less blockages with a smaller GOI they are less likely to step on each others toes with overlap now that the ministries were trimmed and they are moving along. What I want to see is the article taht someone posted on another thread in this forum that said something about the GOI getting an increase in pay by September 15th, if that is the case they would have tipped us that the revalue is sometime around the 12th because the Future of Iraq project plan that they are following states 3 days after the revalue the GOI salaries would be adjusted accordingly with an increase in pay and it even states the amounts they will make per month.

PATIENCE PEOPLE THEY ARE FOLLOWING THE PLAN AND ARE MOVING ON THEIR TIME LINE NOT OURS!!

[estephan]

This doesn't appear to be coming from a "news" source. It is an article on an article site "Go Articles"

take with a grain of salt

AGREED!

[tommyboy]

From Neapolitan's post

"Iraq recorded lately substantial improvement, especially in the oil sector, and would use these benefits to cover the Iraqi dinar value. The dinar has already become one of the most powerful currencies in the Middle East. Nevertheless, there are still problems between Iraq and Kuwait concerning the common border and the establishment of the Mobarak port. Franco Frattini, the Italian Foreign Minister also expressed his desire to resolve differences between these two countries establishing the balance in the region.

According to the Kuwaiti Qabas newspaper, Kuwait announced its decision to stop building 60 piers in the Port of Mobarak. This decision will calm Iraqi authorities, especially as the marine life will not suffer any changes. Therefore, the goods exchange including the inflation will not be negatively affected by the failure of the fourth stage of the port establishment."

Two very good items. The oil sector/IQD and the port (which has been very contentious lately).

Maybe now they can focus more attention on the RV.

[ashtray]

steve shepard puts together articles .. for his job .. most of his articles are on locksmiths .. but he has some roofing articles .. today he released the dinar article .. and if you notice at thr right of the page the advertiser on top is safe dinar.com.. some guy does this for a living .. its advertisement linked ... just copy and paste the title of this article to your search engine ... you will see ...www. 212 articles .. then click on steve shepards name and you will see this //

Author: Steve Shephard

About Author: Directory Submission plays a vital role in building quality links for website. It is important for optimization purpose of a website.By implementing directory submissions in to your business, you can achieve the desired success. Visit us today: http://www.directory01.com.

heres the link to read about steve shepard

http://www.212articles.com/author/Samantha-2/

Edited August 12, 2011 by ashtray

[TexasGranny]

steve shepard puts together articles .. for his job .. most of his articles are on locksmiths .. but he has some roofing articles .. today he released the dinar article .. and if you notice at thr right of the page the advertiser on top is safe dinar.com.. some guy does this for a living .. its advertisement linked ... just copy and paste the title of this article to your search engine ... you will see ...www. 212 articles .. then click on steve shepards name and you will see this //

Author: Steve Shephard

About Author: Directory Submission plays a vital role in building quality links for website. It is important for optimization purpose of a website.By implementing directory submissions in to your business, you can achieve the desired success. Visit us today: http://www.directory01.com.

Hey it does sound good - but you know the problem with putting your faith in anything in this article, it is written by Samantha Dale pumping the sale of dinars.

First, this is simply an article written by someone for the express purpose of marketing. This person has no credentials as a journalist, reporter, financial

expert or anything else. This is just one of 4 articles they submitted today. This particular one carries a link to a site selling dinar. The others ones tie to

sites for privacy protection and promoting local locksmiths around the country.

That is why the article is so jumbled up. It was a simple copy and paste from several other articles.

Also, this has already been posted today - Mods please take this out of news as it is not from a credible news source.

[ashtray]

Author: Steve Shephard is what it says on samanthas web page

http://www.212articles.com/author/Samantha-2/

i think samanths is just a site you could become a member of then start your own blog

[TexasGranny]

Author: Steve Shephard is what it says on samanthas web page

http://www.212articles.com/author/Samantha-2/

i think samanths is just a site you could become a member of then start your own blog

This makes this article even less credible than before. If you follow the original link, it goes to GoArticles and shows Samantha Dale as the author.

Both articles are identical which probably means this is a "articles for sale" article and anyone that is wanting to promote dinars, locksmiths, etc is

told to post these articles under their byline to promote visitor traffic. In other words, a totally bogus and worthless article.

[ashtray]

exactly granny

[Carrello]

Surf,

I have not been able to find the original article (yet) but I am including below a post from Quiet Learner where he references the Maliki quote regarding the salaries and the September 15th date. The first link is not the one we need, and the second link is broken. I have included QL's entire post because I think it is very interesting and good information. Thanks QL!

Good Morning,

After sitting through a 4 hour confrence call last night coupled with the past week's homework and news. I believe that we are actually, right of the cuff of the largest transfer of weath in the history and you and I are at the recieving end.

To start, I would like to point out a very obvious situation, the new coming out of Iraq right now is misinformed if not manufatured and I would caution everyone not to take this lightly. We are proud of producing factional information for our fellow members here at DV. I am seeing re-releases of some articles that are over a year old with parts omitted. This makes for a difficult factual post for any of us that rely on the news sources in Iraq. I have heard the theory that there is a news mis information rally coming from within the Iraq press regime. Im not going to continue this rumor but I would again caution everyone to not hang on every word the Press is put out there right now. We all need to stay grounded and focused. directly below is an excelent example of news reposted and taken out of orginal context this is not to say that there was any intention of wrong doing on behalf of the posting party, but rather without all of the information it was easy to come up with an entirely different take on what was actually going on.

http://translate.goo...iew.asp?ID=2516

http://www.alnaspape...ew.asp/?ID=2516

I would like to also recommend that if you are using a translator to read Arabic, try to translate it with at least two different apps. You will be suprised at the differences between the two translations.

I know we are big on links and I will be happy to provide them in the very near future for anyone that puts that demand on me. For now I am going to post without them as I have a pressing matter that I must address and will be predisposed for the rest of the day.

Ok hop on and put your helments on here we go.

I think that we can all agree that PM Maliki is a very intellegent guy. He has managed to do what no one has done in many, many, years. He has used whatever means necessary to alli the Three Tribes of Iraq. We also know that without this alliance, there will be no RV.

This is a huge peice of this puzzle and I think its safe to say all Three are playing ball. Right?

Many of you will be able to confirm that PM. Maliki has stood firm on his personal mandate to have a GOI in place. He has not waviered at all period. This resolve is brilliant. The GOI will insure democracy in Iraq. I thinks its safe to say the Maliki loves his Country and is more than sincere in his efforts. Agreed?

I beleive its safe to say that the majority of folks here at Dinar Vets are aware of the Ebril agreement and its importance in this process. We know that the Ebril for the most part will insure that a Saddam Huesien will never happen again. We know it is agreed to. What we need to remember is it must be IMPLEMENTED. Still with me right?

OK, looking back you news hounds will remember a quoute by Maliki in regards to government employee pay? "Your pay rates will be increased, within 72 hours of the Currency Adjustments." Remember this satement?

Allrightly then, yesterday what did PM Maliki say? "Government, your pay increases will be no later than the 15th of Sept." Can you see the window folks?

I realize that this is not a huge ornate indicator, but I have not seen an offering of one yet that is more simple, clear and concise. . Right??

Look for the implementation of the the Erbil, when this occurs you will see the GOI fall into place, and then the RV. Can you feel it?

As we come down the home strecth I found that the folks I talked with last night made more sense of this thing than I have heard so far. No wild stories just cut to the chase pure and simple common sense, couple with the news.

Hope you all have a Blessed Day,

Quietlearner,

"Buy on the rumor, Sell on the news!"

Read more:

[behaviorkat]

MEETINGS ARE WHERE YOU GO TO DISCUSS WHAT YOU SHOULD BE OUT THERE DOING RIGHT NOW. IT IS JUST A RECESS FOR THOSE IN POWER. THE SAD PART IS THAT THEY DON'T THINK WE SEE THIS. ANYBODY IN A MEETING IS NOT WORKING. LOOK AT OUR GOVERNMENT .

This is soooo right and funny ~ not funny really but a lot of people think things get done in meetings..............

Get the homework done ~ that is the work - IMO

[guster]

This is not news.. this is an article that someone just threw together... anyone can write anything and post it on this site, I have posted many

articles at go articles.. if you look at the 'about author' section at the bottom of the page it promotes a dinar site... this is nothing but

someones opinion and should not be taken seriously.. here is the about author: the 'dinar' word is a link...

About the Author

There is a huge variety of dinars you could buy. To see some, just visit a iraqi dinar.

[gman51]

Looks like its gonna be at least another couple months with the way things are going. I think I need a vacation from all the Hype.

I highly recommend it. It has been very relaxing to me. It took me 6 years to take my first break (I took about a month off), and now I take a short break every month (about 4 days away). I was going crazy from the hype before. I came into this with low expectations but the hype finally got to me, so the break saved me from going over the edge. As I said, I highly recommend it.

Edited August 13, 2011 by gman51