Lifting the 3 zeros - End of Year

[behaviorkat]

Iraq.. Lifting three zeros from the currency the end of the year

04:08:23/08/2011

Khandan-Dr. Fadel Prophet Iraqi Finance Ministry Undersecretary, told "khandan" site that the budget for 2012 is much more than the budget unveiled in the recent period, noting that more than 115 trillion dinars.

The Financial Secretary stressed that the Central Bank of Iraq intensify its efforts to raise the zeroes of Iraqi currency, and it is hoped that the work is to lift the three zeros from the currency of Iraq later this year, pointing out that Exchange requires the consent of the Council of Ministers and the Iraqi Parliament.

Dr. Fadel Prophet referred to the Finance Ministry have completed stages of the preparation of the budget, leaving only the final figure will be guessed and then sent to the Cabinet for approval.

PC: Yusuf Omar

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.xendan.org%2Farabic%2Fdrejaa.aspx%3F%3Dhewal%26jmara%3D2212%26Jor%3D2

Let's hope it is sooner!

[Amber Williams]

Correct me if im wrong, but wouldnt they want to settle the HCL and the Erbil before this all takes place?

[2fast4u2c]

I agree. I don't think this will actually be done until some time in 2012.

[Carrello]

I agree. I don't think this will actually be done until some time in 2012.

What do you think is holding this up? Why do you think an RV will not take place "until some time in 2012"? That gives you a span of 15 months. Please explain your opinion.

Thanks.

[dogtrainer55]

"The Financial Secretary stressed that the Central Bank of Iraq intensify its efforts to raise the zeroes of Iraqi currency, and it is hoped that the work is to lift the three zeros from the currency of Iraq later this year, pointing out that Exchange requires the consent of the Council of Ministers and the Iraqi Parliament."

An article a few days ago said it was already in front of parliament for a vote and another said it would take effect immediately when parliament voted on it. So we're just waiting on a vote. Wonder when the vote will be. Why would they wait months to vote on it?

Edited August 24, 2011 by dogtrainer55

[Seek1]

An article a few days ago said it was already in front of parliament for a vote and another said it would take effect immediately when parliament voted on it. So we're just waiting on a vote. Wonder when the vote will be. Why would they wait months to vote on it?

[behaviorkat]

Iraq calender

http://mycalendar.org/Holiday/Iraq/

[Seek1]

It's Iraq

[DayTrader]

What do you think is holding this up? Why do you think an RV will not take place "until some time in 2012"? That gives you a span of 15 months. Please explain your opinion.

Thanks.

Opinions are not fact, so they can't be explained with any accuracy. So Says..............DayTrader

[BlueOrchid919]

Correct me if im wrong, but wouldnt they want to settle the HCL and the Erbil before this all takes place?

Lifting (removal) of the zeros cannot take place until they have the new currency to release at the same time. We've seen nothing yet stating the new currency/coins has been printed and is ready for distribution. The draft proposal/planning just made it to the Council and possibly Parliament a week ago.

[GinaG]

Nope. No lop GtsJunkie

[Amber Williams]

Lifting (removal) of the zeros cannot take place until they have the new currency to release at the same time. We've seen nothing yet stating the new currency/coins has been printed and is ready for distribution. The draft proposal/planning just made it to the Council and possibly Parliament a week ago.

ok. help me on this, im new to this investment. My husband is the one whos invested. Im just trying to figure it out.

So they need to pass the "idea" of the new currency, MAKE the new currency, and THEN theyll start throwin numbers for the RV?

[zaborniake]

Iraq.. Lifting three zeros from the currency the end of the year

04:08:23/08/2011

Khandan-Dr. Fadel Prophet Iraqi Finance Ministry Undersecretary, told "khandan" site that the budget for 2012 is much more than the budget unveiled in the recent period, noting that more than 115 trillion dinars.

The Financial Secretary stressed that the Central Bank of Iraq intensify its efforts to raise the zeroes of Iraqi currency, and it is hoped that the work is to lift the three zeros from the currency of Iraq later this year, pointing out that Exchange requires the consent of the Council of Ministers and the Iraqi Parliament.

Dr. Fadel Prophet referred to the Finance Ministry have completed stages of the preparation of the budget, leaving only the final figure will be guessed and then sent to the Cabinet for approval.

PC: Yusuf Omar

http://www.microsoft...D2212%26Jor%3D2

Let's hope it is sooner!

How does "lift the three zeros from the currency of Iraq later this year" translate to 2012? That means later in 2011 to me. The 2012 budget is set to be released in September.

Edited August 24, 2011 by zaborniake

[BlueOrchid919]

ok. help me on this, im new to this investment. My husband is the one whos invested. Im just trying to figure it out.

So they need to pass the "idea" of the new currency, MAKE the new currency, and THEN theyll start throwin numbers for the RV?

The 'idea' is actual legislation that has been submitted to the Council for approval. It has to go through Parliament too for approval and vote. The legislation is for removing 3 zeros, creating the new currency/coins, and the process of removing the old currency while phasing in the new currency: the how, the when, etc. At this point in the process, we do not know yet if the proposed legislation has been approved, we don't know if the new currency has been designed, or even printed/minted, and we don't know the dates all of this will happen. There have been statements from the CBI that the approvals for the new legislation are expected to be by year end with the new currency release and lifting of the 3 zeros to happen by mid year 2012. We've seen a recent article stating the approval was anticipated by end of August or beginning September.

For now, we're all waiting to see how this new legislation (lifting 3 zeros, introducing new currency, etc) will evolve.

[imgesing]

Here we go again. An article or statement is said and everyone puts their slant on it.

There is no mention of a date of release. It could happen between today and Jan 2012.

Yet, the assumptions rage on. Unfortunately we all need to just relax and stay positive and engaged in as much info as possible.

This is going to happen at some point in time but having been on this ride for some time now, I have learned that the only thing consistent here is rumors.

IRAQ will not let us know when or how or at what rate this is going to RV. I doubt a LOP (RD) but that remains to be seen. Either way I believe this will prove to be a great investment.

Peace and please stop the BS from flowing.

Edited August 24, 2011 by imgesing

[Darin]

Lifting 3 zeros = deleting 3 zeros = LOP. There has been at least one news article where they made it blatantly clear that deleting 3 zeros is a LOP, and not what the pumpers have tried to claim (either deleting 3 zeros from the exchange rate, or simply removing 3 zero notes from circulation).

Your right, they probably did state that in an article... But what a "great" way to suppress speculation, right??

I know if I was a Gov. of a central bank, I would look for useful ways to suppress speculations, and the lop-theory/plan would do just that..

Revenue-neutral event, also eliminating huge potential ROI %.

[bubbie]

inflation is going up .. now at 7.1% .. was at 2% at the begining of the year .. how long will shabibi wait . . he's always been proud at keeping inflation low . listen to shabibi in his own words about inflation and the rv ..

[BlueOrchid919]

Here we go again. An article or statement is said and everyone puts their slant on it.

There is no mention of a date of release. It could happen between today and Jan 2012.

Yet, the assumptions rage on. Unfortunately we all need to just relax and stay positive and engaged in as much info as possible.

This is going to happen at some point in time but having been on this ride for some time now, I have learned that the only thing consistent here is rumors.

IRAQ will not let us know when or how or at what rate this is going to RV. I doubt a LOP (RD) but that remains to be seen. Either way I believe this will prove to be a great investment.

Peace and please stop the BS from flowing.

Actually no slant at all. The end of year assessment was clearly stated in print. Also the release of the new currency by mid year next year too. Maybe you missed a few of the 'currency' articles from the CBI....

No assumptions at all. Simply stating what has been seen in print from the CBI. They have also clearly stated the new rate will be $0.86. Again, maybe you've missed a few articles.

I don't assume, nor do I speculate. I simply take the statements from the CBI and re-translate them into languages other than English since the English translations are pretty bad.

Please don't 'assume' that there's a 'slant' to the statements from the CBI. They're pretty straight forward and don't leave much to speculation, slant, analysis, or other....

Edited August 24, 2011 by BlueOrchid919

[estewart]

The 'idea' is actual legislation that has been submitted to the Council for approval. It has to go through Parliament too for approval and vote. The legislation is for removing 3 zeros, creating the new currency/coins, and the process of removing the old currency while phasing in the new currency: the how, the when, etc. At this point in the process, we do not know yet if the proposed legislation has been approved, we don't know if the new currency has been designed, or even printed/minted, and we don't know the dates all of this will happen. There have been statements from the CBI that the approvals for the new legislation are expected to be by year end with the new currency release and lifting of the 3 zeros to happen by mid year 2012. We've seen a recent article stating the approval was anticipated by end of August or beginning September.

For now, we're all waiting to see how this new legislation (lifting 3 zeros, introducing new currency, etc) will evolve.

Right. As always, you got it right on.

The main thing is that the removal of the three zeros, or a displacement of the decimal point three positions to the left, needs to be made into law.

And one thing one can be sure of is that no new currency can exist till there is a law so that the designing and the printing of the new currency can be funded.

I am a retired professional graphics designer, so when I say it will take some time to design the new bills I know what I am talking about. And with all the advanced security features it could take months.

[Amber Williams]

ah... thank you for clearing that up!

[snakes251]

Is it possible they'll LOP the higher bills and leave the smaller ones alone? I personally don't want this to happen, but in an RD/RV scenario, this could balance things out, as opposed to a straight RD with LOP. Just my thoughts...

[20MillionDinar]

Is it possible they'll LOP the higher bills and leave the smaller ones alone? I personally don't want this to happen, but in an RD/RV scenario, this could balance things out, as opposed to a straight RD with LOP. Just my thoughts...

Everything will be affected if they choose to "LOP."

Larger Denoms, Smaller Denoms, Bank Accounts, Mortgages, Prices, etc...

[BlueOrchid919]

Is it possible they'll LOP the higher bills and leave the smaller ones alone? I personally don't want this to happen, but in an RD/RV scenario, this could balance things out, as opposed to a straight RD with LOP. Just my thoughts...

When they remove the higher bills, they'll remove ALL the current bills and coins. They will be replaced with a totally new currency and coinage.

[Realdinar]

So....they are saying they are going to do something that has been done many many times before...by many different countries....but it actually means that they are going to do something that has NEVER occurred...ever....thanks that makes a lot more sense now.

Im not so sure any of the articles make much sense. They have been hollerin rd for years according to the pathetic unclear translations. . They are worse than okie in terms of making false predictions, but the cindy loppers bow down and praise all the false lop claims. Been threatening lop for years....nuff said.

Edited August 24, 2011 by Realdinar

[GT5Junkie]

Im not so sure any of the articles make much sense. They have been hollerin rd for years according to the pathetic unclear translations. . They are worse than okie in terms of making false predictions, but the cindy loppers bow down and praise all the false lop claims. Been threatening lop for years....nuff said.

Pumpers and gurus have been promising a huge RV for years. Nuff said?

You only think the articles are unclear because of A. poor translation and B. every time an RD article comes out every guru and pumper tells everyone it doesn't mean RD, it means RV.