Abadi: We are with the deletion of zeros is likely to begin replacement of the currency early in 2012

[Ridewithme38]

Pretty Simple...If it looks like a Duck and Sounds like a Duck....Odds are its a Duck...i don't get how you guys are getting House cat out of something that looks like a duck and sounds like a duck....if your just going to guess, why not guess Pigeon or even Chicken atleast those things have feathers!

Edited September 12, 2011 by Ridewithme38

[Nottoolate]

Pretty Simple...If it looks like a Duck and Sounds like a Duck....Odds are its a Duck...i don't get how you guys are getting House cat out of something that looks like a duck and sounds like a duck....if your just going to guess, why not guess Pigeon or even Chicken atleast those things have feathers!

Problem is this thing, looking not just at this post but putting all the others together, it sounds like a duck, looks like a chicken and sometimes smells like horse crap.JMO. I forgot somtimes looks like a golden goose.

[truthful1]

This is pretty clear "revalue the remaining foreign currency" "Diversify currency composition" & "remove exchange restrictions" Does it get any plainer!!!!!

Revalue the remaining foreign currency denominated balance sheet items!

COMPONENTS/RESTRUCTURING TO RV

I have reviewed in some detail the requisite criteria for the restructuring and implementation of the Central government investment accounts under the PFM Public Financial management System as mandated by the MOF and coordinated with the IMF & World Bank. The process is somewhat skewed given that the plan methodology is integrated with the Iraq 2011 Budget which as we all know has fluctuated pro forma income and production projections with the contributory oil pricing variable. With these in mind, one should also bear in mind that the Iraq economic policy has experienced delays in their capital budget primarily due to the political uncertainties as noted in the IMF report (noted below).

The key components of production increases, pricing and large investments in the oil infrastructure have reduced the 2011 budget deficit while allowing for an increase in more transparent government finance activities. This trend toward a surplus position in the following years is realistic and will put government finances on a sustainable footing to help rebuild the government’s financials.

I believe that the revaluation we are looking for is more than clearly defined and outlined in the letter of intent to the IMF: “Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding”

http://www.imf.org/e.../irq/030311.pdf

1.We have worked with IMF staff to complete the review of exchange laws and regulations and are considering measures to remove the identified exchange restrictions on current international transactions.

2. In this regard, we formed a Bank Reconciliation Unit that comprises technical level staff from the banks, the CBI and the Ministry of Finance, and with the assistance of Ernst and Young (who were the agents of the Ministry of Finance in the external debt restructuring process) to: (i) deal with all legacy external liabilities taking into account the government’s actions in the context of Iraq’s external debt restructuring (ii) indentify and propose to write-off non-performing loans to defunct state-owned enterprises; (iii) propose a course of action for other remaining unreconciled accounts; and (iv) after the balance sheets have been cleaned up, revalue the remaining foreign currency denominated balance sheet items.

3. The CBI will follow the guidelines to diversify currency composition and establish an appropriate duration and credit risk profile, and build capacity for risk analysis.

I encourage everyone to review this letter and contrast its content to the economic reality of revaluation as not just a pipe dream but a documented FACT as outlined.

http://www.imf.org/e.../irq/030311.pdf

FOR THOSE WHO STILL DON'T UNDERSTAND

http://help.sap.com/...106/content.htm

Its so clear that every educated financial analyst tells you to.stay away from this investment. It says revalue the balance sheets not the currency, once again some rookie stretching the rubber band az far as it can go. do you honestly believe they would say that word, if it was some top secret plan. hey evertone were gonna revalue. did i say we would revalue, just want to make sure we make this pdf with revalue in it so the whole world knows its coming. telegraph it like a kerry collins pass

[countryroads]

If these people can't come to agrenents between themselves, how are they going to be able to negotiate treaties and other agreements with the rest of the world.?

They had better break these stalling and postponing tactics if they wish to have favorale relations with the world. They've had more than enough time to get this RV thing done and move on.

[rvb4jan1]

When does Iraq fiscal year begin?

[behaviorkat]

Its talking about replacing the entire currency and doing the same thing that Turkey did, they even mentioned that its a problem about the amount of currency out there in circulation and since they havent been trying to reduce the amount of currency in circulation in other ways like selling bonds and treasuries, they put a plan in front of parliment to RD the currency to reduce the money supply....if they were just removing the larger bills from circulation, and trading them in for an even amount in lower denoms, it still doesnt take care of the inflated money supply.

'

I hate to see this as much as the next guy but they are clearly talking about a lop....

well go back and re-read your loptalk - maybe you need a refresher!

PS women read these days!

[Carrello]

This is great news its almost over.

So nice to see you and your comments

[gs83phx]

i like to lop my pancakes out the window when i burn them

i like to lop my pancakes out the window when i burn them

mmm pancakes

[keepmwlknfny]

well go back and re-read your loptalk - maybe you need a refresher!

PS women read these days!

It has nothing to do with your sex when it comes to comprehending information in front of you!

Dont blame me, blame saleh and shabibi....this is just being whats told to us from the CBI....I dont like it either but Im not gonna ignore the facts of whats being said!!

I hope they are just full of crap myself cause there are other ways of raising the value of the dinar besides RD....

[ashtray]

this is the first article they talk about zeros but dont mention that its 3 zeros .. they dont have to remove 3 zeros ..>>>>

Redenomination1 has a long history: in the 19th century, when governments faced shortages of gold or silver, they sometimes adjusted the value of their coins accordingly (recoinage; see Helleiner 2003). Among developing and transition nations, currency redenomination was employed on 60 occasions during the 1960-2003 period.2 These redenominations varied in size, from removing one zero from the currency (14 instances) to removing six zeros (9 instances); the median redenomination was three zeros, dividing the currency by 1000. Nineteen countries have used redenomination on one occasion, while ten countries have redenominated twice (sometimes, with many years in between, as in Bolivia, in 1963 and 1987; in other cases, redenominations follow rather quickly, as in Peru in 1985 and 1991). Argentina (4), the former Yugoslavia/Serbia (5), and Brazil (6) are the most frequent users of redenomination.

Read more:

i hope they only remove one zero

[hame55]

Exactly!! LOL You are explaining how the purchasing power is increased with the new dinar.....

The new 25 dinar will buy you what the old 25k note would....that in itself is an increase in purchasing power for the citizens, they are no longer having to use an inflated 25k note to buy a new hat but rather they can now use a new 25 dinar note to purchase that same hat....not to be confused with the exchange rate....the exchange rate will make its way north once the RD process is complete

Your really not understanding what you are reading huh?? Its not your fault....you have too much guruwax build up in your ears and brain..... Its not a fraud for them to drop zeros off the bills....its called a redenomination....it happens ALL THE TIME....do yourself a favor and read to learn for yourself a little and you will answer your own questions.....

Would I like for them to be lying about putting this plan in place to delete the zeros? Hell yea....who wouldnt?? Im just putting out what the CBI is saying (whether they do it or not is another story) but there is too much confusion out there because the gurus are so good at twisting the negative info into meaning something great for us....

Yes countries have RD in times of high inflation. Iraq is not in that category, tho you could say they are fiscally recovering from it - I'll give you that.

BUT you have not answered my question - do you TRULY believe the international financiers and other tycoon interests will let this opportunity to, as the CBI puts it, make the dinar strong again, and make billions....PASS them by, because we investors are hanging around the room with them waiting to cash in?

The purchasing power of the Iraqis WILL NOT increase with RD. If 25K dinar today buys you 20 cans of coke, after RD, the same 20 cans of coke will still cost you new 25 dinar or old 25K dinar tomorrow.

When CBI said..increase purchasing power..he was referring to the purchasing power of the people..and RD just wont do it.

DUH......

[zigmeister]

Would the Lop Squad do us a favor. You post your reality check for us who live in RV nah nah land, and you finish your posts with, "I'm sorry I hate this as much as you guys". Please Stop. You are so working to be right! Please it is becoming condescending and not appreciated....I am speaking for myself.

[ThoughtEcho]

It just staggers me that not one of us, with combined total years in this haven't found a good Iraqi translator

Should start a fund to pay for one........

Think which the perfect Iraqi of the English in this Forum into, by Google Translator especially, to all is made simple. Why fund for the purpose of no end when all news as Iraq is the source is clearly made understanding?

[Cosmo]

Respectfully, I decline the notion that our entire time in this investment has been a huge waste dear DV People. I stand with my gut instinct that there is a very good thing coming for us and that's it. No boohooing for me. I think the disinformation from Iraq is quite heavy at this point IMHO. Let's see what the fall shall bring everyone. Above all, keep the faith with Adam, he won't lead us astray.

Cosmo

A VIP Member

Go RV!

[keepmwlknfny]

Yes countries have RD in times of high inflation. Iraq is not in that category, tho you could say they are fiscally recovering from it - I'll give you that.

BUT you have not answered my question - do you TRULY believe the international financiers and other tycoon interests will let this opportunity to, as the CBI puts it, make the dinar strong again, and make billions....PASS them by, because we investors are hanging around the room with them waiting to cash in?

If you do a little reading on past RD, its done AFTER periods of hyperinflation when they stabilize the economy and are confident enough that they can support the action....thats when it is done successfully....when its done DURING hyperinflation, it fails miserably like Zimbabwe, so Iraq unfortunately is in the category....

The question you are asking me is almost like a rhetorical question......who says there are super duper powers involved purposely to make millions/billions of dollars off of a inflated currency?? If that helps you solidify your reasoning, and makes you feel better about purchasing dinar then go for it.....but I need a little more to go by then stories that sound nice. I mean think about it for a min.....if this was such a global band aid to fix everything and all the worlds debt problems, dont you think it woulda happened by now?? Especially for the US with half the states in the country on the verge of filing bankruptcy?? What about the fact that the "powers to be" stay in power and stay rich by keeping everyone else poor and out of the loop?? Its just not enough to justify WHY this absolutely has to happen and there is no other outcome other then a straight up huge RV....

Would the Lop Squad do us a favor. You post your reality check for us who live in RV nah nah land, and you finish your posts with, "I'm sorry I hate this as much as you guys". Please Stop. You are so working to be right! Please it is becoming condescending and not appreciated....I am speaking for myself.

If you take someone speaking the truth as being condescending then there might be a problem on your end.....

No one who bought dinar wants them to RD the currency and anyone that can just sit and think about it for a minute should be able to pick up on that regardless of what someone may talk about....just because someone has educated themselves on a certain topic, and can hold conversation and debate about it, doesnt mean that person is all for it.....its one of the biggest misconceptions running wild on these boards

Just a little FYI.....

[watercop]

What this tells me is that the Rd proccess wil start next year but that doesnt mean they cannot raise the value till next year this is all a process by phases and how many times have we heard both old and new currency will coexist. Shabs will raise the value first then the RD will come later next year thats what i get out of it.

Thats what I read into it also

[PapaJohn]

When does Iraq fiscal year begin?

$1.26 Trillion – Total amount appropriated by Congress for the wars in Iraq and Afghanistan through the end of Fiscal Year 2011 (September 30, 2011) – $797.3 billion for Iraq and $459.8 billion for Afghanistan. See NPP's "Cost of War" Counters.

My link

Special Immigrant Visas (SIVs) for Iraqi and Afghan Translators/Interpreters

Print Email Glossary

This program is completely distinct from two other programs authorizing SIVs for certain Iraqi and Afghan nationals who have worked for, or on behalf of, the U.S. Government in Iraq or Afghanistan, although some translators and interpreters may qualify under both programs. For information on those programs, see SIVs for Iraqi nationals or SIVs for Afghan nationals.

What is meant by SIV?

SIV stands for Special Immigrant Visa. While there are many categories of SIVs, this webpage discusses only SIVs for eligible Iraqi and Afghan translators and interpreters who have worked directly with the U.S. Armed Forces or under Chief of Mission (COM) authority at U.S. Embassy Baghdad or U.S. Embassy Kabul.

What is meant by fiscal year?

The fiscal year begins on October 1 and ends September 30.

What is meant by Chief of Mission (COM) authority?

Iraqi and Afghan translators and interpreters who have worked directly (not as contractors) for U.S. Embassy Baghdad or U.S. Embassy Kabul are considered to have been under COM authority.

My link

Edited September 13, 2011 by PapaJohn

[zul]

Exactly!! LOL You are explaining how the purchasing power is increased with the new dinar.....

The new 25 dinar will buy you what the old 25k note would....that in itself is an increase in purchasing power for the citizens, they are no longer having to use an inflated 25k note to buy a new hat but rather they can now use a new 25 dinar note to purchase that same hat....not to be confused with the exchange rate....the exchange rate will make its way north once the RD process is complete

Keep, We are talking about 2 diff things here, completely. After the adjustment, the money may seem to have more value.. but as far as purchasing power is concern...they remain the same. Your inflated 25K vs the new 25 dinar..is just for ease of use. It becomes more convenience. But the purchasing power of the Iraqis remains the same.

Your 1000 dinar and 1 new dinar will still buy you a loaf of bread.

If you earn 100,000 IQD today....comes payday you will get new crispy 100 new dinars ...and that new dinar will buy you exactly what your 100,000 dinar bought you before RD....You will not be able to purchase anything more with the new money. So where is the increase in purchasing power?

[keepmwlknfny]

Keep, We are talking about 2 diff things here, completely. After the adjustment, the money may seem to have more value.. but as far as purchasing power is concern...they remain the same. Your inflated 25K vs the new 25 dinar..is just for ease of use. It becomes more convenience. But the purchasing power of the Iraqis remains the same.

Your 1000 dinar and 1 new dinar will still buy you a loaf of bread.

If you earn 100,000 IQD today....comes payday you will get new crispy 100 new dinars ...and that new dinar will buy you exactly what your 100,000 dinar bought you before RD....You will not be able to purchase anything more with the new money. So where is the increase in purchasing power?

If today you have to pay 25k dinar for a new hat, but then the next day you only have to pay 25 dinar for the same hat, how did your purchasing power not increase?

You now are paying less dinar for the same product......

It used to confuse the crap out of me but I had to just forget about the exchange rates value and forget about old/new currency just think of it simply as dinar itself and dont even throw in thoughts of a RD or RV just the simple concept that you can now buy more with less dinar. Did that help at all or am I making it worse? lol

[keepmwlknfny]

No, definately not confused lol.....Stop thinking about anything other then money itself, block out everything else, the simple concept that if you can buy more now with less money your purchasing power increased......its not complicated at all....The problem is that you wanna think of it in terms of a RV or RD....just forget about all of that....its just simply being able to buy the same product with less money

[MovieMaker]

Pretty Simple...If it looks like a Duck and Sounds like a Duck....Odds are its a Duck...i don't get how you guys are getting House cat out of something that looks like a duck and sounds like a duck....if your just going to guess, why not guess Pigeon or even Chicken atleast those things have feathers!

QUACK!

And for Keepmwlknfny you always seem to explain things clearly.

Edited September 13, 2011 by MovieMaker

[keepmwlknfny]

<br />QUACK!<img src="http://dinarvets.com/forums/public/style_emoticons/default/laugh.gif" /><br /><br /><br /><b>And for <font face="tahoma, arial, verdana, sans-serif"><font size="4"> Keepmwlknfny </font></font></b><font color="#5D5D5D"><font face="tahoma, arial, verdana, sans-serif"><font size="2"></font></font></font>you always seem to explain things clearly.<img src="http://dinarvets.com/forums/public/style_emoticons/default/wink.gif" /><font color="#5D5D5D"><font face="tahoma, arial, verdana, sans-serif"><font size="2"><br /><br /></font></font></font><br />

<br /><br /><br />

Thanks movie!! LOL I do try to break it down as simple as possible cause I know alot of things we read can be confusing as heck!

[Carrello]

Would the Lop Squad do us a favor. You post your reality check for us who live in RV nah nah land, and you finish your posts with, "I'm sorry I hate this as much as you guys". Please Stop. You are so working to be right! Please it is becoming condescending and not appreciated....I am speaking for myself.

You speak for yourself, but many are nodding their heads up and down, up and down....

[behaviorkat]

We will see how this all pans out

Good luck lop talkers..... remember when you talk about a lop you are referring to our money not changing in value that we hold compared to the USD not the prices in IQD that will change in Iraq with the change in IQD currency.

Do not turn the lop talk around to cover your suggestion that you think it will lop.

PS I love cats!

This is great news its almost over.

YES!!!

Agreed!