New Currency in 3 to 4 Years

[rapidrex]

Rapid....I could be wrong but it sounds like an RD.

Well....you just may be correct.

[billbill]

If this is misinformation, they are doing a great job of it!

I hope it really is just that.

If they do LOP, I think there will be alot of upset individuals around the world as well as Governments!

[unirod]

I would like to address several points. First of all, they used the examples of Russia, Turkey, and Germany. Not sure exactly which redenomination they're referring to in Germany, but I'm pretty sure that Turkey lopped off 6 zeros and Russia lopped off 3, and according to this article they considered those successful. Second, if Iraq wanted to discourage speculation they wouldn't need to lie to us about what they're going to do. All they would need to do is stop printing and selling dinar. It seems apparent to me that they want speculators to buy their currency because it's a big revenue stream for them. And third, it appears that all of this talk about the new lower denoms already being printed and ready for distribution is hogwash. They've been slowly developing the idea of introducing new currency and designing it to meet with the satisfaction of all parties concerned.

The adviser said the bank the appearance of Mohammed Saleh said in a statement that the idea of changing the currency began to mature gradually, although referred to the Economic Committee in the Federal Council of Ministers since (2007).

indicating that the existing currency will go through two stages; first: Delete the zeros. The second restructuring, and launch the new currency for trading in the markets during the three or four years. And the benefit: The new currency will be in three languages ​​(Arabic, Kurdish, English), as well as there are groups of small metal.

They might not do what they're saying that they will do, but I think what they're saying is pretty clear, folks.

Sam, check out the Scooter research blog sites recent post. It shows the 2010 breakdown of currency distribution by banknotes in circulation. They need to delete the numbers of 25K notes desperately emerginggeos.blogspot.com

[milo825]

Mr. BS himself......agreed.......GO DINAR

Why is he Mr. BS?????? I used to think he was also but I realize I don't actually know why other than Doc31 saying he was, but that was because guru Frank26 said so. he may be but I am just unclear as to why

[Dalite]

I haven't been on here much if at all and then this.....well they have been saying the same thing now for a year so why am I surprised.

As quoted in the article, it was moved to the next stage in 2007.

I have articles dating back to 2006 stating the plan to ReDenominate.

They either will, or they won't.

If we are to believe them, they say they will.

It is up to each individual to make the choice to believe what they have been saying for the last 5 years, or consider it Smoke and Mirrors...

To each, his Dulcinea.

[Francie26]

We read alot of articles that tell what they are going to do. However I think we concentrate too much on these articles, what we should be focusing on is not what they are telling us as much as what are they doing?

A couple of things we know they are doing. They are buying back dinar. They are getting the banking systems prepared for e-banking. They are moving in the right direction to be removed from Chapter 7. HCL & Erbil agreements are coming together.

Excellent post!! Excellent reminder!! Thanks, Zigster!!

I have decided that I will remind myself of your words in the future when I read another one of these posts that jerk the bottom out of my stomach, even briefly. If it really comes to that one of these days, so be it. I'll feel bad about it then, but I am not going to ride that same ole' roller coaster any longer every time another message comes along that says the RV is a long way off or won't pay off at all. Instead I'll remind myself to take a look at what they are doing, which is the most sensible advice I have read regarding the dinar in some time. I can't thank you enough, Zig!!

As quoted in the article, it was moved to the next stage in 2007.

I have articles dating back to 2006 stating the plan to ReDenominate.

They either will, or they won't.

If we are to believe them, they say they will.

It is up to each individual to make the choice to believe what they have been saying for the last 5 years, or consider it Smoke and Mirrors...

To each, his Dulcinea.

Ah, yes, and choose your windmills carefully.

[MrDinarman]

LOP hahahaha :lol: :lol:

[Dalite]

Ah, yes, and choose your windmills carefully.

Definitely!

[marknet73]

If this is the case then we'll do good to double or triple our investment. All the articles are pretty much saying the same thing lately but I guess if they were planning a nice RV they wouldnt announce it to the world you know?

[xyzzy]

We read alot of articles that tell what they are going to do. However I think we concentrate too much on these articles, what we should be focusing on is not what they are telling us as much as what are they doing?

A couple of things we know they are doing. They are buying back dinar.

We know this due to the number published online by the CBI, right? But the CBI also publishes on the same site that M2 (YoY) growth is 15%, so if we believe the CBI then despite the auctions M2 is still going up. If you don't believe the CBI then we don't know what is happening with auctions either. If you want to pick and choose what you believe from the CBI, that would just be making thinks up.

[WowLewi]

We read alot of articles that tell what they are going to do. However I think we concentrate too much on these articles, what we should be focusing on is not what they are telling us as much as what are they doing?

A couple of things we know they are doing. They are buying back dinar. They are getting the banking systems prepared for e-banking. They are moving in the right direction to be removed from Chapter 7. HCL & Erbil agreements are coming together.

Exactly!

[VanessaL4100]

If this is the case then we'll do good to double or triple our investment. All the articles are pretty much saying the same thing lately but I guess if they were planning a nice RV they wouldnt announce it to the world you know?

I am not disagreeing with you. You are correct that all the articles have been saying the same thing; however, they have also been saying the same thing since 6 to 7 years ago as well.. I mean if they were planning on lopping, just how sonny1 said, it would have been years ago, not now. jmho though.

[DinarBam]

If they do LOP, I think there will be alot of upset individuals around the world as well as Governments!

And really, that would make what difference to these guy's in Iraq? Do you think they really give a crap what others think? If they did, they wouldn't be in the state they are in to begin with. JMO.

Peace

[zigmeister]

We know this due to the number published online by the CBI, right? But the CBI also publishes on the same site that M2 (YoY) growth is 15%, so if we believe the CBI then despite the auctions M2 is still going up. If you don't believe the CBI then we don't know what is happening with auctions either. If you want to pick and choose what you believe from the CBI, that would just be making thinks up.

Point well taken. However there was an interesting article that imo they admit what they are doing with their auctions,

Baghdad / Iraq's future

The expert in economic affairs Dargham Muhammad Ali, that the volume of currency in circulation in the local market is (4) trillion dinars is controlled by a central bank and this prevents the inflation for next year, noting that most of the ministries of the State does not need to degrees of functional and she is suffering sagging functional, which will negatively impact on the investment budget and fully reflected in the Iraqi economy.

The Muhammad Ali in a press statement yesterday, "The issue of inflation is unlikely in the coming months due to the control of the central bank currency in the domestic market, which amounted to (4) trillion dinars and through his control also on the exchange rate, which is the scale determines the price of goods imported from abroad and mass cash in the marketplace. "He pointed out that" the central bank works to absorb the Iraqi dinar by offering more of the dollar and by using tools the interest rate that can control this issue, which will make the Iraqi citizen saves his money instead of spending and this works to withdraw currency from market

Read more:

We all know Banks can be evasive as to what exactly they are doing. My point I am trying to make here is, what are they doing? As far as we know there has not been any propaganda/pamphlets, advertisements, educating the people of an RD. So far. What we do know, is Iraq is getting e-banking in gear, they want out of Chapter 7, for financial reasons, they are working on the HCL helpful towards oil contracts, Erbil agreements they are making movement, they are in control of the airspace now, they have a new Electricity Minister. Think about it, in just this week they have been moving. Look at the political pieces as well as the financial. The picture unfolding. Of course Iraq often take one step forward and two steps back. So this week has been interesting.

These are my opinions, I do think they have every intention of new currency and pulling in those three zero's, but I do think they have some pressure on them.

[oneremedy]

Oh snap! 3-4 years? We might as well just sell all our dinar back now.

This is all fluff, they cant wait that long. The will implode. Running on fumes as it is.

IMHO it will NEVER RD. Makes no sense if they want a stronger currency.

[marknet73]

I am not disagreeing with you. You are correct that all the articles have been saying the same thing; however, they have also been saying the same thing since 6 to 7 years ago as well.. I mean if they were planning on lopping, just how sonny1 said, it would have been years ago, not now. jmho though.

I sure hope your right! Seems like they would have lopped when the value was even lower than it is now. I don't see us becoming millionaires overnight but it seems like a lop would end up screwing them as well. Hopefully they'll just introduce the lower denoms without lopping the value off of the big ones. I doubt we'll become millionaires overnight but I'm sure hoping that we can make a good profit off this investment and what benefits them will benefit us too. I guess these redomination articles will keep coming out right up until they finally make a big move, you know?

[OKLAHOMA]

This article makes since to me, bring in large notes for 2 years come out with new currency 1 to 1 , and slowly increase in rate or even start 10cents and raise to 1 dollar in a couple of more years. So we may have a couple of years to sell our dinar when then call for them and if we dont they will be worthless. That way all investors can get most of there money back at least. Aren't the articles about removing zeros from the currency bills not the exchange rate?

[xyzzy]

Point well taken. However there was an interesting article that imo they admit what they are doing with their auctions,

Right, so we have one article of questionable translation by an 'economic expert" balanced against the consistent numbers the CBI has been putting out for years. Maybe we have mis-interpreted that data but I don't think so. What about all the articles that say 30T to 30B?

We all know Banks can be evasive as to what exactly they are doing.

In some things perhaps, but less so for this sort of thing I'd say. Espeically with IMF scrutiny. I also do not accept that such only would be data to the IMF but not to the public. This is clearly counter to the IMF goals on transparency (bold added by me)

Country Transparency

Greater openness has become a key objective for many country authorities in the wake of the emerging market crises. Governments that once guarded access to economic data now release it regularly and rapidly. The policy-making process has become much more open in many countries.

This shift is largely a response to experience and the information requirements of smoothly functioning financial markets. But it also reflects the international community's concern that every possible step be taken to prevent future crises. The Bretton Woods institutions—the IMF and World Bank—have played a prominent role in promoting these changes. Technical assistance from the IMF and other bodies will be essential if countries are to continue making progress toward greater openness and accountability.

A key part of the IMF's work with member countries deals with the promotion of transparency practices, including the provision of economic data to markets.1

1 "Reforming the International Financial Architecture—Progress Through 2000", International Monetary Fund Issues Brief 01/01, March 2001; Available at: http://www.imf.org/external/np/exr/ib/2001/030901.htm.

My point I am trying to make here is, what are they doing? As far as we know there has not been any propaganda/pamphlets, advertisements, educating the people of an RD. So far. What we do know, is Iraq is getting e-banking in gear, they want out of Chapter 7, for financial reasons, they are working on the HCL helpful towards oil contracts, Erbil agreements they are making movement, they are in control of the airspace now, they have a new Electricity Minister. Think about it, in just this week they have been moving. Look at the political pieces as well as the financial. The picture unfolding. Of course Iraq often take one step forward and two steps back. So this week has been interesting.

These are my opinions, I do think they have every intention of new currency and pulling in those three zero's, but I do think they have some pressure on them.

I agree with those points, they are making progress. We don't know what are the check list of accomplishments before an RV or RD but progress is good.

[zigmeister]

Right, so we have one article of questionable translation by an 'economic expert" balanced against the consistent numbers the CBI has been putting out for years. Maybe we have mis-interpreted that data but I don't think so. What about all the articles that say 30T to 30B?

Read more:

What about those articles that say 30T to 30 B? Why aren't they questionable translations?

[WorkerBee]

Cat got your tongue?

[imgesing]

At present, emphasizing changing the currency does not affect the commitments with the States, or deal with it internally

You can focus on any part of this and draw a conclusion. AGAIN, China said the day before they RV'd they will not do it! They obviously are saying what they should say. It is clear with out being clear enough.

Misleading and controversial... Hopefully SMOKE... They need to do this right and accepted and what is beneficial to them internally and externally (meaning investors and owed money as well as paying w Dinar.

RELAX. This is very very GOOD NEWS.

Peace

[VanessaL4100]

At present, emphasizing changing the currency does not affect the commitments with the States, or deal with it internally

You can focus on any part of this and draw a conclusion. AGAIN, China said the day before they RV'd they will not do it! They obviously are saying what they should say. It is clear with out being clear enough.

Misleading and controversial... Hopefully SMOKE... They need to do this right and accepted and what is beneficial to them internally and externally (meaning investors and owed money as well as paying w Dinar.

RELAX. This is very very GOOD NEWS.

Peace

Love the positivity! I would give you a plus but I am currently out. :/ however I couldn't agree more. After reading what Adam said, it is important to watch what they do. They are surely up to something.. And they are good at being sneaky.

[ROCKSCISSORSPAPER]

MODS - Please place this thread in Rumors - It's a Currency Newshound article...not trustworthy. Thank you,

[Heinzy444]

I was expecting a campaign of misinformation in the final days of this investment and thats what we are seeing now. IMO.

DITTO & BINGO.

MODS - Please place this thread in Rumors - It's a Currency Newshound article...not trustworthy. Thank you,

Mods.... move it back LOL

Central Bank: the new currency will be issued with a small metal categories

October 11 2011

(Voice of Iraq)-Baghdad/Centre the predicate/follow-up

The Central Bank of Iraq explained details of the new Iraqi currency to be issued during the three or four years, which will be in three languages including code, including categories of mineral dinars.

The Bank's adviser said the appearance of Mohamed Saleh told him: that the idea of changing the currency began to ripen gradually, although transmitted to ECLAC in the Federal Cabinet since the year (2007).

Stating that the current currency undergoes two; first: delete zeros. II: restructuring, launches new currency for trading in markets during the three or four years, between invalid: ... that the new currency will be in three languages (Arabic, Kurdish, English), and there are also small metal groups.

Noting that experience change currency in many States and have been successful, as in Turkey and in Germany and Russia on delete. yellowing, Central Bank Adviser explained that Iraqi cash category:

delete three zeros, i.e. (1.000) «a» dinars one dinar "becomes" only, as for other categories, as we will be issuing currencies and lowercase k (50) «50 dinars (100)» or «100» dinars, equivalent to (50,000) «50 thousand (100,000)» or «100 dinars» at the moment, change the currency does not affect the obligations With States or deal with it internally.

http://www.microsofttranslator.com/B...p%3Fid%3D27768

[zigmeister]

Love the positivity! I would give you a plus but I am currently out. :/ however I couldn't agree more. After reading what Adam said, it is important to watch what they do. They are surely up to something.. And they are good at being sneaky.

Kind of reminds me of the circus, you are watching the clowns while they are setting up for the next act,