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lifting the three zeroes will impact negatively on the rich


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10/11/2011 07:25

Baghdad, November 10 (Rn) - An economic expert said on Thursday that the deletion of zeros from the local Iraqi currency will lead to the rehabilitation of the distribution of the value of exchange between individuals of the rich and the poor, the rich will be affected negatively and positively poor.

Dr. Abdul Salam gesture Said a professor at Baghdad University / School of Management and Economics and a specialist in the study of the banks, told the Kurdish news agency (Rn) that "the pursuit of the Iraqi Central Bank to raise three zeroes from the local currency will enhance the Iraqi economy, and will lead to increase the value of currency in the low-income , and to increase the purchasing power of citizens and will lead to a reduction of the volume of money supply in the market by 10%. "

The organizers of the Central Bank of Iraq, has indicated in more than one occasion to the need to delete three zeros and the issuance of new currency, the categories of large cash transactions to fill the large, in addition to the presence of small coins, as well as the new currency is issued in Arabic, Kurdish and English.

He Said, "The decision to raise zeros of the three is subject to three policies, Nation Books monetary and credit (undertaken by the central bank) and fiscal policy undertaken by the Ministry of Finance, to develop studies and solutions to address the amount of cash block in the Iraqi market, valued at 30 trillion Iraqi dinars.

He stressed that "the lifting of the zeros of the Iraqi currency strategic project must work according to the criteria by fundamentalism because much of the cash payments are not due to the evolution of the banking system."

He explained that "there are two ways to solve the dilemma of the withdrawal of old currency from the local market and inject new way in the first not to print a new currency in the Press Central Bank or the printing of foreign, but that is put the seal on the old currency and make it a new currency through it, and the way the second complementary to the first that the old currency is traded between citizens and banks on the basis of calculation of all (1100) and a hundred thousand dinars, equal to an old dinars, and a new one.

And that "this method will provide the cost of printing, which will cost the state billions of dinars, and will reduce the" seal "the likelihood of fraud, and reduce the size of the money supply in the market by 10%, which would increase the value and considered an indirect tax on the owners of the money."

He Said that "this action will benefit the low income and poor people because the currency will be of more value than its previous value."

And reduced specialize Iraqis in the area of ​​the economy from the impact of the CBE to delete the zeros from the currency purchasing power of the Iraqi dinar, also hopes the government from behind the move, as seen researchers that the cost of raising the zeros will be greater than the benefit, considering that the currency's strength is measured by the stability of disbursement, which is based on the strength of the productive sector is able to provide goods and services.

The Central Bank of Iraq announced on June 23 last was ready to delete the zeros of the Iraqi currency, and as he emphasized that this step is one of the strategic functions of the Bank, pointed out that the new currency will contain on the Kurdish language in addition to Arabic.

The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Mosul, where the established bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March / March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and the issuance of and currency management, in addition to the organization of the banking sector.

From: Mohamed more, the Open: Mary Basil

http://translate.google.com/translate?langpair=ar|en&u=http%3A%2F%2Fwww.aknews.com%2Far%2Faknews%2F2%2F215456%2F

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what im getting from article and this is my opinoin is that a one thousand dinar not will be traded in for a new 1 dinar note and a 25k note for a 25 dinar note they will be worth the same then after that transaction it will lead to a higher value meaning your 25k dinar note will be worth 25 bucks but once its worth that then the new rate will be one to one so a 25 dinar note will be worth 25 bucks this is my understanding im not sayong this is the case and yes i want it to revalue but after years of researching this is what i believe they are saying... again why would they put in an article that they are going to revalue?????????????? come on

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what im getting from article and this is my opinoin is that a one thousand dinar not will be traded in for a new 1 dinar note and a 25k note for a 25 dinar note they will be worth the same then after that transaction it will lead to a higher value meaning your 25k dinar note will be worth 25 bucks but once its worth that then the new rate will be one to one so a 25 dinar note will be worth 25 bucks this is my understanding im not sayong this is the case and yes i want it to revalue but after years of researching this is what i believe they are saying... again why would they put in an article that they are going to revalue?????????????? come on

I always thought Iraq was pretty transparent in everything.... The old Saddam 25 were worth around 80 and if they make the new ID 25 worth around that price... It would differently bring back the glory and power of the dinar that they mention...

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I always thought Iraq was pretty transparent in everything.... The old Saddam 25 were worth around 80 and if they make the new ID 25 worth around that price... It would differently bring back the glory and power of the dinar that they mention...

So do you think there just "saying" this and going to revalue like most believe? Oviously i hold mine for a reason but i just dont know anymore...I see benifits to an rv but also i see an rd followed by a new value working to

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So do you think there just "saying" this and going to revalue like most believe? Oviously i hold mine for a reason but i just dont know anymore...I see benifits to an rv but also i see an rd followed by a new value working to

I hope they RV first at a Dollar too get all the big bills off the streets.. I think they owe us that.. We put a lot of US dollars into there country...

Or we could all put our money together in DV land and buy an oil well and get monthly dividend checks amongst us..

Edited by trooper
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This is going to sound idiotic to some but, I am starting to feel like the more I research I do the less I know because more and more questions come up. I had a gut feeling coming in that it would RV and I still have that same gut feeling. I am going to trust my instinct. Like many of you, I am seeing this through till the end. I think in the end, we'll be glad we did. Thanks for the post and Go RV!

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for the last time people they ARE NOT going to come out and say they will revalue that wouldbe suicide wont ever happen. Also alot of members here like to say well if they were going to revalue then they wouldnt say anything at all really??? this is where the speccualtion comes out and they know darn well people would be buying it up anticipating if nothing was said so here is their game tell us they "Might redenominate"t and put out misinfo to keep speculation down on the dinar.

Let me ask you something do you honestly trust them??? when their media is ran by a whole buncch of corrupt people anyhow Iraq is one of the most corrupt countries out there right now.

Edited by easyrider
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for the last time people they ARE NOT going to come out and say they will revalue that wouldbe suicide wont ever happen. Also alot of members here like to say well if they were going to revalue then they wouldnt say anything at all really??? this is where the speccualtion comes out and they know darn well people would be buying it up anticipating if nothing was said so here is their game tell us they "Might redenominate"t and put out misinfo to keep speculation down on the dinar.

Let me ask you something do you honestly trust them??? when their media is ran by a whole buncch of corrupt people anyhow Iraq is one of the most corrupt countries out there right now.

Well put. These are the simple concepts that I go by every time I ready any article.

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for the last time people they ARE NOT going to come out and say they will revalue that wouldbe suicide wont ever happen. Also alot of members here like to say well if they were going to revalue then they wouldnt say anything at all really??? this is where the speccualtion comes out and they know darn well people would be buying it up anticipating if nothing was said so here is their game tell us they "Might redenominate"t and put out misinfo to keep speculation down on the dinar.

Let me ask you something do you honestly trust them??? when their media is ran by a whole buncch of corrupt people anyhow Iraq is one of the most corrupt countries out there right now.

The part that still makes me scratch my head is why so many 3 zero articles? They all say the exact same thing. So if true why continously rehash them? To educate the iraqi people? Maybe,but after about the 100 th article I think it would've accomplished its goal.

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I hope they RV first at a Dollar too get all the big bills off the streets.. I think they owe us that.. We put a lot of US dollars into there country...

Or we could all put our money together in DV land and buy an oil well and get monthly dividend checks amongst us..

No theres an idea!!!!!!!!!! lol

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The part that still makes me scratch my head is why so many 3 zero articles? They all say the exact same thing. So if true why continously rehash them? To educate the iraqi people? Maybe,but after about the 100 th article I think it would've accomplished its goal.

Because there is always new speculators that "pop up". Iraq wants to diminish these numbers.

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for the last time people they ARE NOT going to come out and say they will revalue that wouldbe suicide wont ever happen. Also alot of members here like to say well if they were going to revalue then they wouldnt say anything at all really??? this is where the speccualtion comes out and they know darn well people would be buying it up anticipating if nothing was said so here is their game tell us they "Might redenominate"t and put out misinfo to keep speculation down on the dinar.

Let me ask you something do you honestly trust them??? when their media is ran by a whole buncch of corrupt people anyhow Iraq is one of the most corrupt countries out there right now.

Very true!!

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First, this is an opinion from this Dr. combined with infomation that he gets from the same source that we and the media gets the info from, the CBI..

Second, CBI will not give anyone and I mean anyone the true intention of their currency.

And lastly, do you think any of the GOV knows what is the truth and intention of Dr. Shabibi, including Maliki???

I am not sure if the IMF really knows, they just make their recomendations thru study and audits, it is the sole responsibilty of the governor of the CBI.

There is as many pieces of the puzzle in our investment, other economies possible RVing and the world economy that are all related to each other now as there is in the amount of money in circulation in Iraq, my point is we don't know any of this, including the real money in circulation!!

IMO we will see it unfold and for all us I hope soon!

Looking forward to any comments, good or bad...

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Has anyone ever though that the RD has already began right under everyone's nose. they are using the us dollar for most transactions. the auctions are in us dollars. i think they are already sucking the large bills out of circulation as we speak. just sayin ............. :tiphat:

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Has anyone ever though that the RD has already began right under everyone's nose. they are using the us dollar for most transactions. the auctions are in us dollars. i think they are already sucking the large bills out of circulation as we speak. just sayin ............. :tiphat:

If you believe official statistics then it shows otherwise. despite the currency auctions the currency outside banks is increasing. per cbi website. can you explain more in depth on how there reducing currency? Because my research shows that its continually increasing. At the beginnin of last year currency outside banks was approx. 24 trillion dinar and in the last few months we are hearing 30 trillion currency outside banks. im not calling it a fact, but those are the numbers reported.

Edited by truthful1
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for the last time people they ARE NOT going to come out and say they will revalue that wouldbe suicide wont ever happen. Also alot of members here like to say well if they were going to revalue then they wouldnt say anything at all really??? this is where the speccualtion comes out and they know darn well people would be buying it up anticipating if nothing was said so here is their game tell us they "Might redenominate"t and put out misinfo to keep speculation down on the dinar.

Let me ask you something do you honestly trust them??? when their media is ran by a whole buncch of corrupt people anyhow Iraq is one of the most corrupt countries out there right now.

Exactly, i have been saying that for a long time. But no some think and believe everything they hear. LOP is the word for some. That is all they see.

If you believe official statistics then it shows otherwise. despite the currency auctions the currency outside banks is increasing. per cbi website. can you explain more in depth on how there reducing currency? Because my research shows that its continually increasing. At the beginnin of last year currency outside banks was approx. 24 trillion dinar and in the last few months we are hearing 30 trillion currency outside banks. im not calling it a fact, but those are the numbers reported.

Bottom line, they are cooking all the books. They do not have to disclose anything right now. They are not out of chapter 7.

Edited by Scrumdiddles
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So do you think there just "saying" this and going to revalue like most believe? Oviously i hold mine for a reason but i just dont know anymore...I see benifits to an rv but also i see an rd followed by a new value working to

IMO, this is all part of an effort at disinformation and smoke. Take these articles with a grain of sand.

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I hope they RV first at a Dollar too get all the big bills off the streets.. I think they owe us that.. We put a lot of US dollars into there country...

Or we could all put our money together in DV land and buy an oil well and get monthly dividend checks amongst us..

I'm down! =D

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Here's a shorter version from today:

Economist: lifting the three zeroes from the currency will negatively impact positively on the rich and the poor

10 November, 2011 04:39:21 Huda - Baghdad

Revealed an economist, said Thursday that the deletion of zeros from the local Iraqi currency will lead to the rehabilitation of the distribution of the value of exchange between individuals of the rich and the poor, noting that this will affect negatively to the rich and the poor positive.

He said a professor at Baghdad University / School of Management and Economics, Dr. Abdul Salam gesture Saeed, said that efforts by the Iraqi Central Bank to raise three zeroes from the local currency will enhance the Iraqi economy, and will lead to increase the value of currency in the low-income, indicating that it would also lead to increased purchasing power of citizens , and will lead to a reduction of the volume of money supply in the market by ten percent.

The organizers of the Central Bank of Iraq, has indicated in more than one occasion to the need to delete three zeros and the issuance of new currency, and argued that this coin will be issued in Arabic, Kurdish and English.

-

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