Central Bank reveals details of the Iraq Currency

[Aqua Dude]

Central Bank reveals details of the Iraq Currency

Palm - the central bank of Iraq, that Iraq's new currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency.

The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh during a media statement: The Central Bank is determined to raise the three zeros from the currency of the new Iraqi and presented its project to the government and the House of Representatives and is awaiting the government's decision and the Council of Representatives.

Economists and shows that the process of removing three zeros from the Iraqi currency will lead to increased value, and to increase the purchasing power of citizens, noting to the need to pursue policies to persuade the citizens quiet and get a feel for a period not exceeding two years.

And the benefit that the draft lifting the three zeroes from the currency made by the government five years ago to the Central Bank, and has undergone throughout this period to an extensive study over the need to raise zeros to strengthen the value of the Iraqi currency, adding that the deletion of zeros enhance the value of the Iraqi currency and reduce the cost of handling cash, and currency its current estimated size of today Petrlionat dinars, which makes the process of dealing with the monetary cost is high.

The Central Bank of Iraq began to discuss amending the categories of the dinar last year and is still a large part of the payments being in cash due to the evolution of the banking system, noting that the President of the Securities Commission of Iraq has said, earlier, that the deletion of zeros from the Iraqi currency will not affect the circulation of the Iraqi Stock Exchange and shares.

http://translate.google.com/translate?sl=ar&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.nakhelnews.com%2Fpages%2Fnews.php%3Fnid%3D11244

I understand this fully, bashers, and it does not say remove three zeros from the paper currency, it says from the Iraqi Currency, meaning as a whole, meaning exchange rate....you can't turn 25k dinar bill into 25 dinar bill and " will lead to increased value[/b], and to increase the purchasing power of citizens"

Case closed!

...and no this is not an old article!!!! don't go there!

+1 if you agree and love PROOF like this that STOMPS out bashers and "realistic"als.

Edited October 13, 2011 by Aqua Dude

[Alex38]

They LOVE talking about this... wow.

[magawatt]

I'd like to get excited but I can't imagine why they would chum the water for whale sized speculators (unless the rate was changing even as the press release happened).

Edited October 13, 2011 by magawatt

[HopefulTxn]

Central Bank reveals details of the Iraq Currency

I understand this fully, bashers, and it does not say remove three zeros from the paper currency, it says from the Iraqi Currency, meaning as a whole, meaning exchange rate....you can't turn 25k dinar bill into 25 dinar bill and " will lead to increased value[/b], and to increase the purchasing power of citizens"

Case closed!

...and no this is not an old article!!!! don't go there!

+1 if you agree and love PROOF like this that STOMPS out bashers and "realistic"als.

Unfortunately your statements may not necessarily be accurate.

Since they stated that the process will 'lead to increased value and to increased purchasing power', it is not stating that the change itself will immediately cause those things.

Unfortunately, both those items could happen if their decision does end up being an RD. Reducing the money supply can very easily lead to increased value and purchasing power.

For example, if their entire money supply (physical and digital) amounted to 30 trillion dinar. For every 3 billion USD of value added to their reserves their currency would increase about $0.0001 per dinar. If they performed an RD and reduced that money supply to 30 billion dinar and had the same increase of $3 billion USD of value added to their foreign reserves, that increase would equate to $0.10 per dinar.

Unfortunately, we cannot say 'cased closed' on anything with any level of certainty. They will do what they will do and we are just having to wait to see what that is.

[Deltori]

BOOM

[VanessaL4100]

Thanks for sharing Aqua! Great news

[Dalite]

Central Bank reveals details of the Iraq Currency

Palm - the central bank of Iraq, that Iraq's new currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency.

The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh during a media statement: The Central Bank is determined to raise the three zeros from the currency of the new Iraqi and presented its project to the government and the House of Representatives and is awaiting the government's decision and the Council of Representatives.

Economists and shows that the process of removing three zeros from the Iraqi currency will lead to increased value, and to increase the purchasing power of citizens, noting to the need to pursue policies to persuade the citizens quiet and get a feel for a period not exceeding two years.

And the benefit that the draft lifting the three zeroes from the currency made by the government five years ago to the Central Bank, and has undergone throughout this period to an extensive study over the need to raise zeros to strengthen the value of the Iraqi currency, adding that the deletion of zeros enhance the value of the Iraqi currency and reduce the cost of handling cash, and currency its current estimated size of today Petrlionat dinars, which makes the process of dealing with the monetary cost is high.

The Central Bank of Iraq began to discuss amending the categories of the dinar last year and is still a large part of the payments being in cash due to the evolution of the banking system, noting that the President of the Securities Commission of Iraq has said, earlier, that the deletion of zeros from the Iraqi currency will not affect the circulation of the Iraqi Stock Exchange and shares.

http://translate.google.com/translate?sl=ar&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.nakhelnews.com%2Fpages%2Fnews.php%3Fnid%3D11244

I understand this fully, bashers, and it does not say remove three zeros from the paper currency, it says from the Iraqi Currency, meaning as a whole, meaning exchange rate....you can't turn 25k dinar bill into 25 dinar bill and " will lead to increased value[/b], and to increase the purchasing power of citizens"

Case closed!

...and no this is not an old article!!!! don't go there!

+1 if you agree and love PROOF like this that STOMPS out bashers and "realistic"als.

Awesome.

Now, they are adding 3 zeros to your 25,000 dinar notes to make them 25,000,000 notes, while deleting 3 zeros from the exchange rate to make it $.86.

That would make each 25,000 dinar note worth $21,500,000.

'Nuffi said; it just doesn't get any better than this.....

[VanessaL4100]

Awesome.

Now, they are adding 3 zeros to your 25,000 dinar notes to make them 25,000,000 notes, while deleting 3 zeros from the exchange rate to make it $.86.

That would make each 25,000 dinar note worth $21,500,000.

'Nuffi said; it just doesn't get any better than this.....

I'm sorry but is that sarcasm?? I can't tell...

[FlintNPebbles]

I like it

[bamagirl]

We are looking good.....go RV!!!

[Dalite]

I'm sorry but is that sarcasm?? I can't tell...

I'm too much in shock to be sarcastic.

That is how the numbers would play out, based on AquaDude's certainties.

I am looking forward to buying a few small countries ( now that was sarcasm).

Edited October 13, 2011 by Dalite

[Aqua Dude]

Unfortunately your statements may not necessarily be accurate.

Since they stated that the process will 'lead to increased value and to increased purchasing power', it is not stating that the change itself will immediately cause those things.

Unfortunately, both those items could happen if their decision does end up being an RD. Reducing the money supply can very easily lead to increased value and purchasing power.

For example, if their entire money supply (physical and digital) amounted to 30 trillion dinar. For every 3 billion USD of value added to their reserves their currency would increase about $0.0001 per dinar. If they performed an RD and reduced that money supply to 30 billion dinar and had the same increase of $3 billion USD of value added to their foreign reserves, that increase would equate to $0.10 per dinar.

Unfortunately, we cannot say 'cased closed' on anything with any level of certainty. They will do what they will do and we are just having to wait to see what that is.

and they are going to reduce money supply by cutting off three zeros off the paper currency, rather than taking in the higher denoms when used as payment and giving change in lower denoms??

btw...i never said the change would "immediately cause cause those things" i can read, the article says, "LEAD TO increased value"

[Captjohn]

They love to talk about "deleting the zeros, removing the zeros" ad nauseum. Please, please, just shut up and do it. Geeesh!

[VanessaL4100]

I'm too much in shock to be sarcastic.

That is how the numbers would play out, based on AquaDude's certainties.

I am looking forward to buying a few small countries ( now that was sarcasm).

hahaha gotchya. Thanks for sharing

[abutchbaker]

We won't no till the end of the RV it will take years.......

[HopefulTxn]

and they are going to reduce money supply by cutting off three zeros off the paper currency, rather than taking in the higher denoms when used as payment and giving change in lower denoms??

btw...i never said the change would "immediately cause cause those things" i can read, the article says, "LEAD TO increased value"

But what you did say is:

you can't turn 25k dinar bill into 25 dinar bill and " will lead to increased value[/b], and to increase the purchasing power of citizens"

And I simply pointed out that there is avenue that does allow for that situation to occur without the straight RV that everyone is hoping for.

In regards to your question, IF they RD, and people purchased something with the high denoms then they could get change in either high denoms or the new lower denoms during the exchange period set by the CBI.

[oneremedy]

Its right there in writing! I swear some people get off on saying crap like txn. How do ************, choke yourself and type this crap at the same time?

Thanks Dude for the post.

Edited October 13, 2011 by Markinsa
Language: Please see DinarVet Forum Rules: Inappropriate Behavior

[Dalite]

and they are going to reduce money supply by cutting off three zeros off the paper currency, rather than taking in the higher denoms when used as payment and giving change in lower denoms??

btw...i never said the change would "immediately cause cause those things" i can read, the article says, "LEAD TO increased value"

They can't take the old and make change with the new.

That doesn't address the remnants of the past high inflation, nor limit the liability to back the 30 trillion the CBI is so worried about.

What you continue to describe has never happened before in the history of currency.

I am not saying it can't, but the odds are extremely high that not only has it never been done before, it is unlikely to ever be done in the future.

The concept is to remove the negatives of past inflation, reduce the cash liability and give the money strength, while prepping the economy for expansion and growth.

Shabibi plans on increasing foreign reserves to 70 billion, so you can see he has definite plans for growth and to be able to back higher exchange rates in the future.

I really would like to see it play out the way you keep describing it, when you post these articles to taunt others.

Unfortunately, the CBI sees a redenomination as a redenomination, and plans on executing it as such.

Having said that, like others have already said, we will know for sure once it is done.

All we are doing is discussing possibilities and probabilities at this point.

Imagination creates the possibilities; history defines the probabilities.

[xyzzy]

I understand this fully, bashers, and it does not say remove three zeros from the paper currency, it says from the Iraqi Currency, meaning as a whole, meaning exchange rate....you can't turn 25k dinar bill into 25 dinar bill and " will lead to increased value[/b], and to increase the purchasing power of citizens"

Case closed!

First, we are all agreed that the specifics of an RV will never under any circumstances be announced ahead of time since it would just lead to wild purchases for (what wouldn't really be) speculation. RIght?

Yet you are claiming that what they are doing is announcing in no uncertain terms (i.e. case closed) that a huge RV will be done at some point in the next few years, just not exactly when or how much. Obviously this is false by definition. No such announcement would ever be made. So you might think what will really happen is a RV, but it is fundamentally illogical to think that is what they are trying to convey in such articles. The articles MUST be talking about a RD, even if that is not their intent and its all smoke and mirrors as many like to say.

I of course think its perfectly straight forward, they are talking about a RD, the will do a RD, and are trying to make that as clear as possible.

Edited October 13, 2011 by xyzzy

[Ske11ington]

It seems that every even semi legit source that speaks to the IQD, talks about chopping off zeros. This sound like lop lop lop to me. Just my luck to wait five years to break even.

[dweave69]

thanks aqua dude

[hoopdog]

This may not be an old article, but it sure is a repeat of what they have been saying for months.

[RVandGolf]

Does this mean a LOP..? Or does it just mean that the value would go .86 cents to 1 dollar bill? Im confused...

[burn_the_village]

increase value? The IRaqis are the biggest pumpers of all...

hahaha.....

Remove 3 zeros, increase value? A lop and what? change their monetary policy so they only have to back 20 - 25% of it and give u $3+ to one dinar......yeah Iraq I dare you!

Guess what? We'd all cash in....ALL OF US AROUND THE WORLD!! MUWAHAHAHA!!

There were articles the other day that says there is only 4 Trillion dinar in circulation IN IRAQ...when you look at cbi's M1 for their dinar, its like 55T

How much did we buy? How much did CBI collect? hmmm??

I'm betting we bought A LOT and CBI has collected a lot from their citizens!!!

Do you really think these Iraqis want to pay us all at once by doing anything definite to their currency? Do you think they will tell us? They friggin hate us! and for those that think they are talking about an RV, I'm sorry to say that's wrong...but keep buying dinar please! hehehe

Lets be honest, there's no way they can go straight up from 1170 to the dollar to an exchange rate of 1 to 1 overnight...NOT happening...thats not how the world works...when has that ever happened before?

Is this a currency that represents a nation and its economy, or is the dinar like a stock?

I do believe they will start to manipulate the exchange rate letting it increase against the dollar over time once they are done playing political theater with this issue and once they have enough currency withdrawn and they sell more securities...but they are not in a hurry or possibly not ready, and at this time, I believe their economy has full support of our US dollar acting as a surrogate currency and anyway no other lopping country has done that. Also,. most Iraqis' savings is in Dollars. Remember that. Those reasons and the fact that we are holding so much dinar which they must honor (YES THEY MUST!) since they issued it, is why they can't ever LOP or do an RV and their only option with their currency is to allow it to appreciate slowly and hope to cash us out here and there rather than ALL AT ONCE!! Think about it! Be ready for this as a possibility people!

imho this is the only way everyone including Iraq can prosper

[2fast4u2c]

Burn...I like your enthusiasm...crappy week for me so I could use it...lol