Shabibi .. Is it enough

[Elixir]

Found this this morning

Shabibi .. Is it enough to replace

the Iraqi currency to save it from collapse?

Posted: August 19, 2011 by THE CURRENCY *****HOUND

In the past years have fallen Iraqi dinar value due to inflation and deterioration caused by economic sanctions imposed on Iraq after the Kuwait war, through the fall of Baghdad in 2003, to turn into a semi massacres day.

All these factors made the value of the dinar is going down, prompting the central bank in the same year resort to the adoption of a new mechanism to maintain the dinar’s exchange rate lies in the development of an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and converted to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, but it was not enough to save the value of their currency collapse, under the terms of the price fall to become a day about 1120 dinars per dollar. ,

Thus pushing the Iraqi Central Bank’s decision to replace the currency Atkhama by deleting three zeros in an attempt to raise the value of the world.

Has announced Shabibi Iraqi Central Bank Governor completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 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.

On the other hand, sees the first in the Central Bank of Iraq the appearance of Mohammed Saleh said that the fundamental problem in the timing of the single currency only, but the application of the new project 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 , and remain only in the possession of the citizens of the trading day, and can conduct his business in the two currencies of any existing and new,’s goods as current price, for example, JD 1000 The customer can give the seller the present paper a class 1000 dinars, as well as be able to give him a coin a new category of one dinar.

In the view of economists that this action is not enough to save the Iraqi dinar from collapse as long as the Iraqi economy is weak currency should always be linked strongly the country’s economy, and the best proof of that the United States where the dollar dropped because of debt and faltering economy, and generally coming days will determine, either revalue the Iraqi currency if there is demand for it globally or to depreciate more.

http://www.alarab.qa/mobile/details.php?issueId=1329&artid=144924

[sassytexan]

Found this this morning

Shabibi .. Is it enough to replace

the Iraqi currency to save it from collapse?

Posted: August 19, 2011 by THE CURRENCY *****HOUND

In the past years have fallen Iraqi dinar value due to inflation and deterioration caused by economic sanctions imposed on Iraq after the Kuwait war, through the fall of Baghdad in 2003, to turn into a semi massacres day.

All these factors made the value of the dinar is going down, prompting the central bank in the same year resort to the adoption of a new mechanism to maintain the dinar’s exchange rate lies in the development of an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and converted to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, but it was not enough to save the value of their currency collapse, under the terms of the price fall to become a day about 1120 dinars per dollar. ,

Thus pushing the Iraqi Central Bank’s decision to replace the currency Atkhama by deleting three zeros in an attempt to raise the value of the world.

Has announced Shabibi Iraqi Central Bank Governor completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 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.

On the other hand, sees the first in the Central Bank of Iraq the appearance of Mohammed Saleh said that the fundamental problem in the timing of the single currency only, but the application of the new project 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 , and remain only in the possession of the citizens of the trading day, and can conduct his business in the two currencies of any existing and new,’s goods as current price, for example, JD 1000 The customer can give the seller the present paper a class 1000 dinars, as well as be able to give him a coin a new category of one dinar.

In the view of economists that this action is not enough to save the Iraqi dinar from collapse as long as the Iraqi economy is weak currency should always be linked strongly the country’s economy, and the best proof of that the United States where the dollar dropped because of debt and faltering economy, and generally coming days will determine, either revalue the Iraqi currency if there is demand for it globally or to depreciate more.

http://www.alarab.qa/mobile/details.php?issueId=1329&artid=144924

Not sure what to make of this, will we revalue or stay where we are.

[Elixir]

Sounds like the new 1 dinar will be a coin... thats the cool part......

Edited August 19, 2011 by Elixir

[Markinsa]

A microsoft translation... Notice in the Above article is says "JD 1000", where in this one it omits the JD (Jordanian Dinar)

Al-Shabibi. Is it sufficient to replace the Iraqi currency to save from collapse?

| 2011-08-06

In past years the Iraqi dinar fell due to inflation and deterioration caused by economic sanctions imposed on Iraq after the Kuwait war through the fall of Baghdad in 2003, it passed to the daily massacres, all these factors made the value of the dinar declined, prompting the Central Bank in the same year to adopt a new mechanism to maintain the dinar lies in the development of the foreign exchange auction to sell the dollar amounts, resulting from the sale of oil in world markets and transferred to the Development Fund for Iraq Which in turn transferred to the Bank to sell the local currency, but it wasn't enough to save the value of the currency from collapsing, with price decreases to about 1120 dinars to the dollar.

Which payment of the Iraqi Central Bank to introduce a resolution to replace the currency by deleting three zeros in an attempt to raise the value globally. Sinan Al-shebibi said the Iraqi Central Bank Governor is a plan to replace the current banknotes after the cancellation of three zeros, and include 30 trillion dinars (26 billion dollars), is the value of expected cash bloc, adding that time to be determined by the Government and Parliament the two Iraqis.

On the other hand the first expert believes the Central Bank of Iraq the appearance of Mohamed Saleh that the main problem in the timing of the launch of currency only, but the application of the new project will be in accordance with the mechanisms hierarchical in form of citizen does not feel is put on the market and withdraw amounts at Government banks, block just keeps the ' daily circulation, and can conduct transactions with any existing and new currencies, commodity price being for example 1000 dinars customer can give the seller the current sheet class 1000 dinars And also can give currency new category one dinar.

Economists believe that this action is not enough to save the Iraqi dinar from collapsing as long as the Iraqi economy weak currency always strongly linked to the State's economy, and the best proof that the United States, where the dollar weakened because of debts and find its economy, and generally the days ahead will, either flying the Iraqi currency if Iqbal universally or to depreciate more.

[pastorbigal]

In the view of economists that this action is not enough to save the Iraqi dinar from collapse as long as the Iraqi economy is weak currency should always be linked strongly the country’s economy, and the best proof of that the United States where the dollar dropped because of debt and faltering economy, and generally coming days will determine, either revalue the Iraqi currency if there is demand for it globally or to depreciate more.

http://www.alarab.qa/mobile/details.php?issueId=1329&artid=144924

Two things:

1. Iraq has the potential of a very strong economy, because most of their debt has be forgiven, and they are sitting on a huge surplus of oil.

2. Heck yeah there is a global demand for it to revalue

[WHATTHE]

"...and generally coming days will determine, either revalue the Iraqi currency if there is demand for it globally or to depreciate more."

i can't imagine they'd allow the dinar to become more worthless than it already is. that certainly wouldn't help their economy...so, how about a revalue? i dig it!

Read more:

[Carrello]

The IQD is weak and may collapse? Are you kidding me.

There is more money dropping from the sky into Iraq than any other country. The major corporations of the world are signing contracts left and right. IBM, HP, Shell, BMW, Microsoft, Hyundai ...ad nauseum.....and 41 one international oil companies are going into, or are already there, because they have more oil than Gawd. Their stock market and banks are doing phenomenal. Resorts and million dollar hotels are being built. Their natural resources are more than abundant. A year from now you won't recognize Iraq.

Doesn't look like anything is collapsing to me.

[dogtrainer55]

Two things:

1. Iraq has the potential of a very strong economy, because most of their debt has be forgiven, and they are sitting on a huge surplus of oil.

2. Heck yeah there is a global demand for it to revalue

I concur. How is there NOT a global demand?!

[fnbplanet]

The math in his example comes to $.86 if it is indeed an RV.

[BlueOrchid919]

The Arabic letter I is often translated into J in English. Happens in French too. I'd not read much into that. ID would likely translate into JD, but still mean Iraqi Dinar.

Arabic does not translate into English very well.... which leads to a lot of confusion.

Edited August 19, 2011 by BlueOrchid919

[fnbplanet]

The dinar won't be weak, the government is. This message isn't aimed at us, it's aimed at the children running the IRAQI GOVERNMENT.

He's saying that they are the hold up, but in a "PC" way.

[FrankenSLI]

There looks to be some promising hints here. The fact that the term "Revalue" is being thrown around also sounds promising. Is this a RD-RV article?? In some ways it seems a straight RV article. Also they speak of the Jordanian dinar. If I remember correctly the Jordanian dinar is worth around a buck forty.

[chevysmemaw]

revalue the Iraqi currency if there is demand for it globally or to depreciate more

Read more:

Sounds to me like they wanted everyone to think of a l.o.p.

but now might be letting the truth out.

Or maybe they were just waiting for the worldwide crisis that

we have now so that there would be, " demand for it globally".

I told a close friend back in Jan of this yr that, " with my luck they would

collapse the dollar then rv". Of course I was just joking but with this article

it does sound like that is exactly what Iraq wants.

That would make there, global transfer of wealth allot easier.

So lets consider something that I've been thinking for awhile,

Arabs are really big on dates. And they seem to want to become

a world power. Arabs hit Americans 10yrs ago with the largest attack ever.

If this is the transfer of wealth some say, then it will be the end of America as we

know it. So given their propensity for dates I think it is extremely possible that

what they are waiting for, and sending all the smoke out for, is

9-11.

What are they waiting for ? World Domanence ?

[Dalite]

I concur. How is there NOT a global demand?!

In order for there to be a Global Demand for a currency, the country that produces the currency must have something of value to redeem the currency on.

All Iraq is producing now is Oil, and it must be redeemed in dollars.

Unless Sand becomes valuable, the only demand is for dinar speculators hoping for a big payday.

I know the argument sounds like makes sense, but when you really sit down and think it through, it makes no sense.

The attraction is a stable country with a stable economy; which promotes investment.

Many countries are playing the odds with early start-up.

Unless the GOI can provide security to bring stability, the CBI has to chose between trying to stabilize the economy before the GOI stabilizes the country, or just kick the can down the road and make a run at it again when the country is more stable.

Until the country is viewed by the international community as being stable, with a stable economy, the real investment potential is not realized.

Sure, there are those taking the gamble now, but just try to imagine how many more will jump in when things stabilize.

But, unfortunately, currently there isn't much demand for the currency except for speculation.

[RVnow4meplease]

Please revalue, Please revalue NOW! Thanks for the post! I really needed to hear some good news. It would be even better if they RV'd today. GO RV>>>>>>>>>>>>>>>............

[Psych]

Shabibi seems to be pleading or else he providing an ultimatum...."RV or else". I think this article is huge news...IMO.

[FlintNPebbles]

The math in his example comes to $.86 if it is indeed an RV.

I could live with .86.

Thanks for the article. It does sound promising.

[poke salad annie]

"...and generally coming days will determine, either revalue the Iraqi currency if there is demand for it globally or to depreciate more."

i can't imagine they'd allow the dinar to become more worthless than it already is. that certainly wouldn't help their economy...so, how about a revalue? i dig it!

Read more: http://dinarvets.com...8#ixzz1VU5cbmUL

The use of revalue in this context is the best financial news statement out of Iraq for a while now. I'm smilin'!

[acceb75]

Notice that they said the 1 dinar would be a coin? I wonder if that is significant. 1000 dinar note = value of 1 dinar coin. Wasn't there a previous article a while back that said there would be coins worth 500 and 1000 dinars? I wonder if this whole replacement of curency thing is going to be done solely in coins?????

[Carrello]

There looks to be some promising hints here. The fact that the term "Revalue" is being thrown around also sounds promising. Is this a RD-RV article?? In some ways it seems a straight RV article. Also they speak of the Jordanian dinar. If I remember correctly the Jordanian dinar is worth around a buck forty.

Med stated this morning that an article today states Shabibi actually uses the term revalue. Shabibi said they must revalue soon or the things begin to crumble.

I am looking for the article.

Edited August 19, 2011 by Carrello

[hoosier1470]

The use of revalue in this context is the best financial news statement out of Iraq for a while now. I'm smilin'!

personally, I like the words. "Coming Days"!!! God Bless

Med stated this morning that an article today states Shabibi actually uses the term revalue. Shabibi said they must revalue soon or the things begin to crumble.

I am looking for the article.

Well, it says it in the article in this thread! Maybe thats the one he was speaking of!! Havent seen any others that mention it today. God Bless!

[Darin]

Notice that they said the 1 dinar would be a coin? I wonder if that is significant. 1000 dinar note = value of 1 dinar coin. Wasn't there a previous article a while back that said there would be coins worth 500 and 1000 dinars? I wonder if this whole replacement of curency thing is going to be done solely in coins?????

Fills are normally referenced in 1000s

so a 1,000 fils would equal 1 IQD

500 fils would equal .5 IQD

250 fils would equal .25 IQD

50 fils would equal .050 IQD

Just something to think about.

[acceb75]

Fills are normally referenced in 1000s

so a 1,000 fils would equal 1 IQD

500 fils would equal .5 IQD

250 fils would equal .25 IQD

50 fils would equal .050 IQD

Just something to think about.

Oh right, OK I get it. So is THAT what they mean when they say 1 IQD = 1000 Dinar? That would make total sense if they were meaning fils. 1 dinar coin = 1000 FILS. That makes the article that came out where they said they were going to create new currency in coins to equal 500 and 1000. That would be .50 and 1.00 coins which makes a 1 to 1 revalue TOTALLY make sense.

[Darin]

Oh right, OK I get it. So is THAT what they mean when they say 1 IQD = 1000 Dinar? That would make total sense if they were meaning fils. 1 dinar coin = 1000 FILS. That makes the article that came out where they said they were going to create new currency in coins to equal 500 and 1000. That would be .50 and 1.00 coins which makes a 1 to 1 revalue TOTALLY make sense.

Possibly.. On the forums, we normally use a 25,000 note equaling 25 dinar as an example.

Articles display it differently. But they never really say fils or coins, but it could be what they are referencing. Not entirely sure.

[acceb75]

Possibly.. On the forums, we normally use a 25,000 note equaling 25 dinar as an example.

Articles display it differently. But they never really say fils or coins, but it could be what they are referencing. Not entirely sure.

them meaning Fils = me staying in my happy place

not meaning fills = depressed cuz of dreaded LOP

I'm gonna go with FIls