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Finance Committee meets Iraqi Central Bank Governor


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How come i am still on mod review?

Are you ready to get off review so that you can throw another tantrum? Lol. Looking forward to it. The last one was priceless.

**** Please follow forum rules and do not intentionally provoke other members or you will be placed in Mod Preview***

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Actually Dinarck I realized all you lopsters are sad people and I actually feel sorry for you that you feel so burned by Okie that you have to spend all your time on a chat forum dedicated to an inves

What is good about dividing everything by 1000 to increase the local exchange rate? The higher exchange rate wouldn't go live ( become tradable) until the RD was complete. Shabibi can't retain contr

Finance Committee meets Iraqi Central Bank Governor Sunday August 21, 2011 Met Haider Abadi, head of the Finance Committee on Tuesday, 16/8/2011 Mr. Shabibi central bank governor, and also discussed

Are you ready to get off review so that you can throw another tantrum? Lol. Looking forward to it. The last one was priceless.

Actually Dinarck I realized all you lopsters are sad people and I actually feel sorry for you that you feel so burned by Okie that you have to spend all your time on a chat forum dedicated to an investment that you have no hope in. All of you lopsters are just as bad as the Okies of the world you just dont see it. I will say this all in all you all seem pretty smart but what you all lack is wisdom. But thats another conversation.

This investment is not for everyone and you clearly are one of the ones who should not be in it but hey if you want to waiste your time posting the same old warn stuff everyday than have it. See in my world Dinarck your nothing. Simple as that....I was actually blinded by your educated responses but you must learn there are some things you must learn in life.....and Ive learned I was entertaing the wrong guy (being you and your lopster buddys). See I like to surround myself with sucessful driven people and Dinarck....we all know that you are not. I am very sucessful in my life and know alot of very sucessful people. They dont sit around on an internet forum waisting their time on something they dont believe in.

Hey maybe one day real soon you and all your lopster buddys can beat on your chest talking about how right you were(still broke) or maybe you will run to the bank and cash in your $1 mill in dinars and say man I didnt see this coming. LOL

But hey either way Dinarck doesnt really matter to me! I at one time actually thought you might be intelligent of to open your eyes...but I stand corrected! No big deal! You live and you learn!

You and lopster buddys can keep up thar great fight you got going....its boring to me at this point! Have at their Dinarck! Either way your a winner! First time for everything!!!

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Actually Dinarck I realized all you lopsters are sad people and I actually feel sorry for you that you feel so burned by Okie that you have to spend all your time on a chat forum dedicated to an investment that you have no hope in. All of you lopsters are just as bad as the Okies of the world you just dont see it. I will say this all in all you all seem pretty smart but what you all lack is wisdom. But thats another conversation.

This investment is not for everyone and you clearly are one of the ones who should not be in it but hey if you want to waiste your time posting the same old warn stuff everyday than have it. See in my world Dinarck your nothing. Simple as that....I was actually blinded by your educated responses but you must learn there are some things you must learn in life.....and Ive learned I was entertaing the wrong guy (being you and your lopster buddys). See I like to surround myself with sucessful driven people and Dinarck....we all know that you are not. I am very sucessful in my life and know alot of very sucessful people. They dont sit around on an internet forum waisting their time on something they dont believe in.

Hey maybe one day real soon you and all your lopster buddys can beat on your chest talking about how right you were(still broke) or maybe you will run to the bank and cash in your $1 mill in dinars and say man I didnt see this coming. LOL

But hey either way Dinarck doesnt really matter to me! I at one time actually thought you might be intelligent of to open your eyes...but I stand corrected! No big deal! You live and you learn!

You and lopster buddys can keep up thar great fight you got going....its boring to me at this point! Have at their Dinarck! Either way your a winner! First time for everything!!!

Why do you think he keeps coming back? Why do you think he doesnt cash in now? Hope. Does He wants the rv more than most here? Is His desperation is seething? He dreams of mini M2's. He could actually love shabs. We really dont know do we okie?

Disclaimer-imo.

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i have yet to see any educational campaign listed on the CBI web site,,, again 30 billion dinars is not enough to support the government of iraq and all the businsses and the 30 million population of iraq ..

california has 30 million people like the country of iraq does . do ya think california can get by with 30 billion dollars ..and california doesnt provide for their own national defense ... just because someone wrote an article about 3 zeros being deleted .. i for one will wait for this to be posted on CBI web site

sure its being discussed .. and according to some of iraqi media this has been presented to parliment ..what has maliki said about it ..im waiting for official statement from cbi ..not a media outlet or some person on this page to tell me its final and this is extortion,, i bought my dinars before this was discussed on the internet ..no one extorted anything out of me .. i bought my dinars in 2005 knowing it was a risk

im looking for iraq to end up with 3 to 5 trilion dinars in the end with a net value of even up dollar per dinar

these little bits of propaganda coming out of iraq doesnt phase me ,,, especially when theres nothing to back them up .. ya google these articles and they seem to be the only ones out there .. and if ya do find others that are simular ...they always differ in some way .. so if theres a press release from the cbi .. it wont have any differing opinionated columns that will follow,, it will be final and at that point the iraqis will learn the truth ..and they will know before we do .

we will read about what they learned ..

now if someone has a press release from the CBI or the govt of iraq concerning the iraqi dinar .. id like to read that ..

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al this says iis .. from shabbi >>>>> For his part, Shabibi that the new currency attributes are difficult to falsify in addition to the fortifications that put the new currency and explained that the project if implemented will strengthen the Iraqi dinar exchange rate against foreign currencies.

hes saying its difficult to falsify .. meaning hes got a new note thats more difficult to counterfit .. and he also says the new currency will strenthen the exchange rate ..

from what i read the other day .. for the erbil agreement to be implimented .. they must have the kurdish language on the currency .... its in the kurdistan .. constitution to have their language on it ..

so when the new currency comes out .. we will see erbil agrement implimented as well as the exchange rate higher than it has been ..

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We all hope for the best, but reality in these stories does not look good.

I agree. It appears that Iraq either isnt sure of the direction they actually want to go in, or they have no idea what they are doing.

Guys listen to the Cindy loppers, they are bringing to the table a good point. Perhaps a rich Iraq Is a good thing in theory, but not sure if their leaders have the substance to make it happen.

Disclaimer: imo.

P.s. Dinarck, do you think the Dinar will make us rich?

P.s.s. Dalite 4 prez!

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i have yet to see any educational campaign listed on the CBI web site,,, again 30 billion dinars is not enough to support the government of iraq and all the businsses and the 30 million population of iraq ..

california has 30 million people like the country of iraq does . do ya think california can get by with 30 billion dollars ..and california doesnt provide for their own national defense ... just because someone wrote an article about 3 zeros being deleted .. i for one will wait for this to be posted on CBI web site

sure its being discussed .. and according to some of iraqi media this has been presented to parliment ..what has maliki said about it ..im waiting for official statement from cbi ..not a media outlet or some person on this page to tell me its final and this is extortion,, i bought my dinars before this was discussed on the internet ..no one extorted anything out of me .. i bought my dinars in 2005 knowing it was a risk

im looking for iraq to end up with 3 to 5 trilion dinars in the end with a net value of even up dollar per dinar

these little bits of propaganda coming out of iraq doesnt phase me ,,, especially when theres nothing to back them up .. ya google these articles and they seem to be the only ones out there .. and if ya do find others that are simular ...they always differ in some way .. so if theres a press release from the cbi .. it wont have any differing opinionated columns that will follow,, it will be final and at that point the iraqis will learn the truth ..and they will know before we do .

we will read about what they learned ..

now if someone has a press release from the CBI or the govt of iraq concerning the iraqi dinar .. id like to read that ..

Very good point ashtray. If I am understanding your opinion/theory they would have to RV first then lift the three zero's in order to have the cash to move Iraq in a stronger position? Or does it matter which comes first?

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I agree. It appears that Iraq either isnt sure of the direction they actually want to go in, or they have no idea what they are doing.

Guys listen to the Cindy loppers, they are bringing to the table a good point. Perhaps a rich Iraq Is a good thing in theory, but not sure if their leaders have the substance to make it happen.

Disclaimer: imo.

P.s. Dinarck, do you think the Dinar will make us rich?

P.s.s. Dalite 4 prez!

Dalite and Dinark bring alot to the table in the discussion of a possible RD that is for sure.

However it is possible we are too focused on the RD. I believe it is their continued education process of calming the fears and suspicions the people may have towards a new currency. The education process repeats on a continued basis, the new currency will have all three tribes language (it will represent all), it will not be easy to counterfeit(warning to those who may try it), the zero's will be lifted, it will make the IQD currency stronger. I think the emphasis of these statements is to sooth the suspicions the people may have of the new currency. Lifting zero's for the people of Iraq may mean to them, their currency will be less than the toilet paper they stick under their mattress's. Shabbi assures them this process will only make their currency stronger. Preparing the people for the change. This is the first stage.

The second stage is next, I see some hints of what it is, articles mentioning control of the IQD, outside speculators, and so on. Which for me leads to the RV. That is where our focus should lie.

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If in fact the deletion theory is going to parliament, perhaps passes, I think from a political standpoint that Maliki will shoot it down. Politicians like to look good. Like they're doing something for the people, especially in a case of a newly,(or almost newly formed), government, so why wouldn't M want to hug the spotlight by introducing a currency that is competitive with the rest of the world? History is being written daily for Iraq. Just as it was in the beginning stages of any country and GOV. I wouldn't think that M would want his legacy to be a devalued currency when he has an opportunity to come out shining and smelling like a rose. Remember, often times don't do what's right, but what "puts them over" in the eyes of their country and the world. I see dollar signs. Maybe not the hopeful "no RD / straight RI/ or RV", but i firmly believe that we'll capitalize. Just look at all events leading up to this moment, then what could be in terms of the decision of RD -vs- RV/RI. The latter makes sense. To me.

Secondly, i have a question on the 3 languages on the lower denoms. I have a few 50 dinar notes, though not accessible. Are there 3 languages on those? If so, perhaps the currency was done a long time ago, they put a lid on it, and now here comes the "propa- ehhh- uhhh" in regards to its printing and introduction. Just an observation/question.

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al this says iis .. from shabbi >>>>> For his part, Shabibi that the new currency attributes are difficult to falsify in addition to the fortifications that put the new currency and explained that the project if implemented will strengthen the Iraqi dinar exchange rate against foreign currencies.

hes saying its difficult to falsify .. meaning hes got a new note thats more difficult to counterfit .. and he also says the new currency will strenthen the exchange rate ..

from what i read the other day .. for the erbil agreement to be implimented .. they must have the kurdish language on the currency .... its in the kurdistan .. constitution to have their language on it ..

so when the new currency comes out .. we will see erbil agrement implimented as well as the exchange rate higher than it has been ..

You left out the part where he said 30 trillion will be raplaced by 30 billion. Thats RD period.

I agree. It appears that Iraq either isnt sure of the direction they actually want to go in, or they have no idea what they are doing.

Guys listen to the Cindy loppers, they are bringing to the table a good point. Perhaps a rich Iraq Is a good thing in theory, but not sure if their leaders have the substance to make it happen.

Disclaimer: imo.

P.s. Dinarck, do you think the Dinar will make us rich?

P.s.s. Dalite 4 prez!

Yes but not the way its being pumped. First thing that needs to happen is the RD needs to be voted down. If that happens then slowly over time the exchange rate will rise.

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You left out the part where he said 30 trillion will be raplaced by 30 billion. Thats RD period.

Yes but not the way its being pumped. First thing that needs to happen is the RD needs to be voted down. If that happens then slowly over time the exchange rate will rise.

Remember the confusion when they rolled out the 2011 budget?

We would see a trillion # & a billion #.

The trillion # always referenced the IQD

The billion # always referenced the USD

What they were referencing was "values"

And I am sure that is the same for the case of the 30 trillion.

30 trillion at $0.00086 will be roughly 26 billion.

Twist & spin it as negative as you like, but, just remember how they may put out the value of it, in terms of USD to give an idea to the global world.

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Actually Dinarck I realized all you lopsters are sad people and I actually feel sorry for you that you feel so burned by Okie that you have to spend all your time on a chat forum dedicated to an investment that you have no hope in. All of you lopsters are just as bad as the Okies of the world you just dont see it. I will say this all in all you all seem pretty smart but what you all lack is wisdom. But thats another conversation.

This investment is not for everyone and you clearly are one of the ones who should not be in it but hey if you want to waiste your time posting the same old warn stuff everyday than have it. See in my world Dinarck your nothing. Simple as that....I was actually blinded by your educated responses but you must learn there are some things you must learn in life.....and Ive learned I was entertaing the wrong guy (being you and your lopster buddys). See I like to surround myself with sucessful driven people and Dinarck....we all know that you are not. I am very sucessful in my life and know alot of very sucessful people. They dont sit around on an internet forum waisting their time on something they dont believe in.

Hey maybe one day real soon you and all your lopster buddys can beat on your chest talking about how right you were(still broke) or maybe you will run to the bank and cash in your $1 mill in dinars and say man I didnt see this coming. LOL

But hey either way Dinarck doesnt really matter to me! I at one time actually thought you might be intelligent of to open your eyes...but I stand corrected! No big deal! You live and you learn!

You and lopster buddys can keep up thar great fight you got going....its boring to me at this point! Have at their Dinarck! Either way your a winner! First time for everything!!!

Nice one JW. Whenever I read an article and come across his name or any other lopsters, I just hit the "back" button on my browser cause it isn't even worth reading. These lopsters must be really stupid if they think the CBI would really come up with the article saying that they will RV on so and so date. No matter what these pathetic groups of people say, we will stand firm and believe on this investment.

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Nice one JW. Whenever I read an article and come across his name or any other lopsters, I just hit the "back" button on my browser cause it isn't even worth reading. These lopsters must be really stupid if they think the CBI would really come up with the article saying that they will RV on so and so date. No matter what these pathetic groups of people say, we will stand firm and believe on this investment.

And folks, that is the perfect example of Denial.

If folks that understand the possibilities are "lopsters", then those who refuse to educate themselves as to the possibilities must be the true "Jewels of Denial"

Of course, I know you won't read my comment, if you are honest about what you say, so no reply is necessary.

But, just because you refuse to accept other possibilities doesn't mean we will give up on you...

There are just some surprises that aren't welcomed, and shouldn't catch you unaware.

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Remember the confusion when they rolled out the 2011 budget?

We would see a trillion # & a billion #.

The trillion # always referenced the IQD

The billion # always referenced the USD

What they were referencing was "values"

And I am sure that is the same for the case of the 30 trillion.

30 trillion at $0.00086 will be roughly 26 billion.

Twist & spin it as negative as you like, but, just remember how they may put out the value of it, in terms of USD to give an idea to the global world.

You maybe correct about that Darin and I am not trying to be negative I am just giving my opinion on what is being said. In my opinion they will not print 30 trillion new dinar in lower denoms. Its mind boggling to think how many bills/coins that would be. I just dont see it. That is the main reason I base my opinion on 30 billion new lowers as opposed to 30 trillion. I maybe wrong. Im not saying I know these things for sure but Im just trying to use a little common sense to sort out whats going on. Unfortunately all signs point to a RD. Again Im not saying it will happen Im just saying it looks that way. If that seems negative then so be it. I think you and Drox make excellent points about why it may not happen and I cant wait to see a vote. It will be a great day if it is voted down. I still believe there is a good chance it will be voted down. It may seem like I cheerlead for a RD at times but I can assure you that isnt the case. I simply accept that it is in the works and I dont sugar coat that fact. A vote of no would concrete a slow rise in the value of the IQD and that is what I am cheerleading for.

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i have yet to see any educational campaign listed on the CBI web site,,, again 30 billion dinars is not enough to support the government of iraq and all the businsses and the 30 million population of iraq ..

california has 30 million people like the country of iraq does . do ya think california can get by with 30 billion dollars ..and california doesnt provide for their own national defense ... just because someone wrote an article about 3 zeros being deleted .. i for one will wait for this to be posted on CBI web site

we will read about what they learned ..

now if someone has a press release from the CBI or the govt of iraq concerning the iraqi dinar .. id like to read that ..

What research have you done to indicate that 30 billion USD worth of dinar is insufficient?

Saudi Arabia has an M0 (physical circulation in circulation) of 19.8 billion USD, and has a population of 25 or 26 million.

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You maybe correct about that Darin and I am not trying to be negative I am just giving my opinion on what is being said. In my opinion they will not print 30 trillion new dinar in lower denoms. Its mind boggling to think how many bills/coins that would be. I just dont see it. That is the main reason I base my opinion on 30 billion new lowers as opposed to 30 trillion. I maybe wrong. Im not saying I know these things for sure but Im just trying to use a little common sense to sort out whats going on. Unfortunately all signs point to a RD. Again Im not saying it will happen Im just saying it looks that way. If that seems negative then so be it. I think you and Drox make excellent points about why it may not happen and I cant wait to see a vote. It will be a great day if it is voted down. I still believe there is a good chance it will be voted down. It may seem like I cheerlead for a RD at times but I can assure you that isnt the case. I simply accept that it is in the works and I dont sugar coat that fact. A vote of no would concrete a slow rise in the value of the IQD and that is what I am cheerleading for.

Hey you don't have to twist my arm very hard to make me think a LOP is possible. It surely is, but, I would only argue that I would agree of its possiblity because the overall situation is quite complex and not "one" person can comprehend the whole situation. So, it proves no sense bickering about how a R/D (Lop) would go down, why it is likely the best solution, and so forth over & over while we can try to dig beneath the surface to understand the concepts even better. Its all about correctly connecting the dots.

Your right... I don't think they would print 30 trillion in new lower denominations. Heck, in 2004 they didn't even do that. In 2004, they printed 6.38 trillion and had 2 Trillion allocated to bank reserves. Since than, they have roughly printed 3 trillion per year (Basically 50% of what they originally printed), year after year. How much of that 3 trillion is for expanding the money supply? How much of that is for replacing soiled bills?

For a nation that relieso n the use of exchanging hard currency, the bills wear out rather quickly. We would likely not notice as much here in the U.S. as a very high percentage of us rely on electronic currency. So, it would be easy to believe the average life expectancy is 1.5 years. (In some cases, some being even less....) The more hands it is exchanged in, used in extreme environments, or stored in rough environments takes a toll on the curency. So, if the CBI releases new notes as the old notes are brought in, they may set them aside and still account for them. But, those soiled notes would likely be easy to be written off the books (or destroyed entirely and turn into digital currency).

Foreign cash reserves - may only sit at $50 billion, but, the reserves are really used for cashing out exchanges... They're primary use is to pay liabilities, cover 3 months of imports, etc. etc. Other benefits are maintaining a stable rate of exchange, etc. etc. And I would also argue that notes in circulation are considered a liability, but, the reserves are designed with a different intent in mind.

Stabilization funds - would likely help cover an abundance of exchange. They're liquid funds, but, not reported as liquid assets on the CBI. A more layman's term way of putting it, they're like a emergency fund so to speak. E.A.U. would actually rank #2 in foreign reserves if these type of funds were accounted for. According to Wiki, they hold over $1 trillion in their fund (Development fund)..

And if one were to really really "think" about it... Would it, not in a sense, benefit Iraq if many of their people were relying & holding onto USD? I am sure the last thing they want is a majority of people with a heightened purchasing power and leverage.

But we're only slightly breaking the surface on the bigger picture..

What research have you done to indicate that 30 billion USD worth of dinar is insufficient?

Saudi Arabia has an M0 (physical circulation in circulation) of 19.8 billion USD, and has a population of 25 or 26 million.

Well 1. your referencing M0 2. they have less people 3. they value their currency differently.

The people within that nation get a lot of hand-outs so to speak. (Welfare nation)

The MOP references in 1988 that the U.S. value of dinar in circulation was $80 billion USD.

I think they're seeking to be a economy like they once were in relevance to 1988.

Strong, prosperous, etc. But, we have to counter in inflation, costs of living increases, demand, etc. etc.

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One thing I have on my mind Darin is the new currency. The way they have been talking it seems that the new currency has been printed and ready to roll out. What has me wondering is why they would print the new currency before the vote to approve the new currency? It has been made clear that the Kurdish language has to be on the currency and the articles we have seen make it seem like its a done deal. Why? Maybe I am just misreading them and the new currency in fact hasnt been printed. If that is the case I dont think we would even see the new currency until quite a while after it has been approved which I hope its not. Lets say its voted down. Then what? Do they then print new 000 notes with the new language? They would have to I would think. Even if they began to raise the exchange rate at what rate would they be able to get away with lower denoms? 500? 100? .01? .10? I suk at math so I cant really think how large or small of a bill would be needed at an exchange rate of 385 but really my whole point is that lower denoms are bad for us no matter how we look at it because we both agree they will not print 30 trillion of them and they cannot RV to 1.00 or any where near it so all that is left is RD as far as the lower denoms go. So hopefully they havent printed them or else that tells me that the RD is a go. Do you agree or do you see something I am missing.

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