Work to take the nessesary measures to raise the real value of the iraqi dinar before the implemtaion of the project

[jupitergirl]

Wednesday, 16 November 2011 20:08 10 paragraphs down***

Experts: the need to reform the economy by changing the currency

Concluded roundtable discussions on the project to delete the zeros of the Iraqi currency, that the issue of changing the currency is not a technical issue, but rather is a matter directly related to the general economic situation, and stressed the need to precede the process of reform of the Iraqi economy and address its problems and to reduce inflation, with the necessity of putting it to the ray year

To be discussed widely.

Table organized by the Iraqi Communist Party, on the fourth of this November, and included a number of those concerned with Iraq's economic and specialists and experts of the Central Bank of Iraq and academics to contribute to the discussion of the draft to delete the zeros of the Iraqi currency, provided through the economic development of the Party and the working paper for discussion included questions and points Several in this regard.

According to the paper confirm that monetary policy is the core tasks of the Iraqi Central Bank, like fiscal policy, and a tool of economic development and economic stability in the country, arguing that reducing the mass of cash in the Iraqi economy, the manifestation of the monetary policy affect the economy, not as a policy of isolation from other economic activities, but an essential part of the system that aims to improve economic performance.

The paper stressed that the success of the project depends on the existence of a regulatory body and the administrator of the system, government and private banks is characterized by efficiency and the ability to choose the right time to implement it, because the importance of raising the zeros lie in raising the value of local currency in circulation of economic internal and external, as it is a strategic project aimed at reducing transaction costs and to facilitate trading operations, including raising the economic efficiency of the performance.

This indicated that the working paper to the inter consequences resulting from a cluster of large cash in circulation about the 27 trillion Iraqi dinars, represented by their exposure to fraud carried out by gangs of professional in the absence of the security apparatus of economic efficient, as well as difficulties in trading for commercial purposes, making it vulnerable to theft .

She drew the paper to the calculation errors experienced by accounting units in government departments or private sector, which makes them vulnerable to manipulation by the weak people. This is in addition to the time-consuming process of counting and calculation in daily trading. As well as confusion caused by the work of the banks.

The paper also touched on the potential negative effects of this project, including the psychological effects of debt operations outside banks and money market official, may result from non-awareness of the disputes that may lead to disturbances added to the tense security situation.

Including as well as implications for the stock market, as it will reduce the capital belonging to the companies dealing with the market the same proportions as the zeros deleted. In addition to the costs of printing the new currency, which could cost millions of dollars can be used to support the areas of economic and other service more priority.

The paper stressed that the lifting of the zeroes will lead to a decline in the nominal value to enter the workers in all sectors, pointing to fear the owners of banking offices from this project because of the expectations of the problems with the citizens did not realize the nature and objectives of this measure, especially because they are constantly exposed to attacks by organized gangs.

The working paper proposed a set of proposals, notably "work to take the necessary measures to raise the real value of the Iraqi dinar before the implementation of the project, and presenting the project to the public to discuss a wide range, especially for academics and economists working in the institutions of the state and provincial councils, political parties and civil society organizations and various circles the People in order to create public awareness and a willingness to accept the project, also called the paper to take practical steps to support the productive activities and local products to reduce the nature of rent and consumption of the Iraqi economy, and to review the process of importation toward reducing the components of consumer and give priority to materials and goods that serve the productive activities and services developed to allow the economy to spend currency hard ". In this context, the paper suggested that "interest in the productive sector in industry and agriculture in the public and private sectors, and to take strict measures against attempts to bring in hard currency from Iraq."

In the discussions, Deputy Governor of the Central Bank of d. The appearance of Mohammed Saleh said the denomination's current fit with the current economic situation and the next, with added inflation in the country and over three decades of zeros to the currency, which did not raise the purchasing power of that.

Opinion in favor of Iraq "today needs to restructure its currency and reduce the mass of cash in circulation and that nearly 30 trillion dinars. And that the currency will be replaced gradually with trading currencies during the period and may extend to ten years."

At the same effect, he believes the economic d. Majid picture that "the duty of monetary policy to create the right conditions for economic activity and restore confidence in local currency and strength and to maintain monetary stability, and that any problem outside of this policy should ask about economic and financial policy."

He pointed out that the process of changing the currency will not work any economic shock, but will help to absorb economic shocks, stressing the importance of the presence of small coins in trading in order to increase the value of the currency and confidence.

He d. Mahdi al-Hafez in his speech, said that "the issue of change of currency is the technical matter of form, but in fact is directly related to the general economic situation.

He said that "it is wrong to separate monetary policy from economic policy, where there are closely related," he said, adding that the economic situation in the country-polar, indicating that the most important problems of monetary policy in Iraq is the banking crisis. "

Asked a member of the Political Bureau of the Communist Party of ethnic Raed Fahmi in his intervention: Is it possible to achieve the project to delete the zeros of the Central Bank in isolation from the site of the state and public policy of the state?.

He stated that in many aspects of the project is considered one of the requirements of its success, media and scientific as well as the role of banks, so says my understanding, the project should not be a step isolated by the Central Bank of each episode.

He continued that "there are other rings outside the central bank, this is the decision of the State and General Government and is not restricted to the central bank's decision.

He asked the question of timing and what is my timing parameters?, And what the minimum requirements that should be available to start such a process?.

Continued Fahmi Speaking He addressed the issue of private banks, adding that it "is characterized by low lending activities and does not have a banking function key in the true sense," stressing that it is ironic that we are talking in Iraq for a market economy in the absence of markets, monetary and financial sophisticated. "

"Today we have does not have a market economy, there are no regulatory mechanisms of the market, and does not have an effective banking system and there is no transparent process to determine prices, and there are no controls on quality and we do not have a planned economy in any way."

He asked again: "Can the Central Bank of Iraq to lead such a process where there is supposed to be capable of application services and what are the conditions of good timing?, And what are the priorities of the bank today in the banks?.

The professors asked the participants in the table: Ragheb Blibl, Lador Jabri, Cltag Khalid Hameed, the success of Ali, Hamid Khalaf, Muslim Auana, their opinions and their interventions in the subject. And concluded the table, to inter the conclusions of the most important "need to cut the money supply in Iraq and the radical reform of the currency management system re-structuring in proportion to the structure of prices and choose the right time to implement the project, to be preceded by implementation of the reform of the Iraqi economy and address its problems and to reduce inflation, and addressing the crisis of banks, both government of which is civil and the process of implementation of the project should not be the problem in isolation from the banks, as well as the need to examine the experiences of countries in which it was the process of replacing the currency and take advantage of them. "

Among the conclusions also "fight financial and administrative corruption and the imposition of censorship, particularly with regard to the smuggling of currency and money laundering, and the creation of devices and accurate are able to detect counterfeit currency and raise the efficiency of workers in the banking industry, with the necessity of presenting the project to the public to discuss the scope and scale, and work to increase awareness people to the project before doing it and the legislation of laws necessary for the new currency. "

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[yota691]

raising the zero, dropping the zero which is it, or just confusion

[jupitergirl]

parapraph 10....raise BEFORE implementation....go from where it is now to .10--one dollar---whatever.....this is exactly what we want.

[FlintNPebbles]

The paper stressed that the lifting of the zeroes will lead to a decline in the nominal value to enter the workers in all sectors, pointing to fear the owners of banking offices from this project because of the expectations of the problems with the citizens did not realize the nature and objectives of this measure, especially because they are constantly exposed to attacks by organized gangs.

The working paper proposed a set of proposals, notably "work to take the necessary measures to raise the real value of the Iraqi dinar before the implementation of the project, and presenting the project to the public to discuss a wide range, especially for academics and economists working in the institutions of the state and provincial councils, political parties and civil society organizations and various circles the People in order to create public awareness and a willingness to accept the project, also called the paper to take practical steps to support the productive activities and local products to reduce the nature of rent and consumption of the Iraqi economy, and to review the process of importation toward reducing the components of consumer and give priority to materials and goods that serve the productive activities and services developed to allow the economy to spend currency hard ". In this context, the paper suggested that "interest in the productive sector in industry and agriculture in the public and private sectors, and to take strict measures against attempts to bring in hard currency from Iraq."

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Yes....this sounds good

[X-MAN]

I LIKE THAT LINE "work to take the necessary measures to raise the real value of the Iraqi dinar before the implementation of the project, LET HOPE PEOPLE

[Darin]

Seems quite positive....

Raising the value prior to implementation of a project.

Well, if the project is the R/D (Removal of 3 zeros)

Than raising the value would have to be increasing the exchange rate against other foreign currencies.

So, if the raising is significant enough, we may see some profits....

[Shelley]

I feel like a lil kid at christmas time..... waiting for next week to get here !!!!

great article

Thanks for the post JupiterGirl

[Biker]

More and more every day now thats all you hear is them talking not only about the 000s but Rev of currency. Its getting closer folks .

[JWJW11]

Of everything posted in the past, despite all the wishful thinking, this appears to be the first real evidence there really could be some sort of RV before the RD. This, if it happens, is what we are hoping for and while it is highly unlikely to be anywhere near the pumper generated BS rates it could be enough to make a lot of us very happy!

Heyyyy you came around good for you!!!

The one thing u should understand about most around here is that we get the possibility of an RD BUT we also like to look outside the box and what we are being told. News lies....shoot this article could be a lie....HOWEVER this is a very extrordinary event taking place and in the end ....we will ALL BE HAPPY!!!

Go RV!!!

[nathan1606]

Rate first then r/d thats always been the plan. We are close . In a post yesterday that said "Iraqworking to reduce the mass of cash through the deletion of zeros 16/11/2011 14:31 Baghdad, November 16 (Rn) -The Central Bank of Iraq onWednesday that seeks to reduce the monetary mass of 25 trillion dinars to 15billion dinars over the deletion of zeros to facilitate cash transactions in thefinancial markets and banks." If you work the math that is suggested in the post 25 tril to 15 mill the 15 into 25 you should come out with a rate of ,,,, 1.66666 ,,,, but hey thats just my thoughts. And if u go by what is said .

[truthful1]

Lets just hope its more than going from 1170:1 to 1000:1.

[Flyingfred]

This sounds like a positive plan for the RV/RD. Let's get this done prior to Christmas! :lol:

[fastarnie]

Heyyyy you came around good for you!!!

The one thing u should understand about most around here is that we get the possibility of an RD BUT we also like to look outside the box and what we are being told. News lies....shoot this article could be a lie....HOWEVER this is a very extrordinary event taking place and in the end ....we will ALL BE HAPPY!!!

Go RV!!!

Correct. R/D or RV I will be happy in the end, cause at least it will be over. :lol:

J/J This article is very positive, and I like it, love it, I want some more of it. Yeah tsss.

[Darin]

R/D or no R/D, a R/V prior is all good in my book.

Even worst case scenario, they R/D afterwards, we could see some profits.

But, if they're making a statement about raising the actual VALUE? they're closing in on doing the exchange rate increase in the very near future.

[nathan1606]

It would almost be impossable for them to r/d befor they r/v, could u ever see the us with a note worth. .0001 of a dollar. Their cashdbox could'nt hold payment for a loaf of bread. I did say almost cuase this is iraq .. lol and to raise the rate they will r/d and we know they want to release new note around the first of the year and smart bet is a r/v atlease 30 days befor said release . So we are in a great window for say "the next 15 to 20 day" but that jmo

[JWJW11]

Correct. R/D or RV I will be happy in the end, cause at least it will be over. :lol:

J/J This article is very positive, and I like it, love it, I want some more of it. Yeah tsss.

No DOUBT!!!

[luckyone]

Rate first then r/d thats always been the plan. We are close . In a post yesterday that said "Iraqworking to reduce the mass of cash through the deletion of zeros 16/11/2011 14:31 Baghdad, November 16 (Rn) -The Central Bank of Iraq onWednesday that seeks to reduce the monetary mass of 25 trillion dinars to 15billion dinars over the deletion of zeros to facilitate cash transactions in thefinancial markets and banks." If you work the math that is suggested in the post 25 tril to 15 mill the 15 into 25 you should come out with a rate of ,,,, 1.66666 ,,,, but hey thats just my thoughts. And if u go by what is said .

You need to move your decimal over three places to the right because your dropping 3 0's, not working with the same number. That would make it 1666.66 and this would be the % of change, so if you move the decimal back over two places it would make it 16.66 which I'm guessing would be in cents. Like 16.66 cents per dinar, but this could have nothing to do with what they ar planning. Although this would give you excatly the numbers that was stated after dropping the zeros. At 15 bil dinar it would be worth .16 USD per dinar. I could be wrong because I work with physics and stats was not one of my math classes.

[speculatorsRIDE]

The news coming out of Iraq just keeps getting better and better. We are just waiting for our troops to finish their withdrawal IMO.

[mrref]

raising the zero, dropping the zero which is it, or just confusion

Its the same thing

[nathan1606]

You need to move your decimal over three places to the right because your dropping 3 0's, not working with the same number. That would make it 1666.66 and this would be the % of change, so if you move the decimal back over two places it would make it 16.66 which I'm guessing would be in cents. Like 16.66 cents per dinar, but this could have nothing to do with what they ar planning. Although this would give you excatly the numbers that was stated after dropping the zeros. At 15 bil dinar it would be worth .16 USD per dinar. I could be wrong because I work with physics and stats was not one of my math classes.

Im sure im just grabing lol. Wishful thinking. but dropping / raisen the 3 o's for the 25 tril makes 25 bil, then they want that down to the 15 bil so we take the 15 bil they want into the 25 bill they have 0.6 , divide 1 into 0.6 gives a rate ( 1.66666666666 ) now that just my formula ... lol but it sure sounds good.

[luckyone]

Im sure im just grabing lol. Wishful thinking. but dropping / raisen the 3 o's for the 25 tril makes 25 bil, then they want that down to the 15 bil so we take the 15 bil they want into the 25 bill they have 0.6 , divide 1 into 0.6 gives a rate ( 1.66666666666 ) now that just my formula ... lol but it sure sounds good.

I went back and checked it again and it didn't come out right. I'm not good with stats and finance calculations because with physics the math I work with is calculus and geometry/trigonometry. I remmber doing stuff like that a long time ago, but that was like 10 years ago. This is why I work with science and note finance.

[nathan1606]

I went back and checked it again and it didn't come out right. I'm not good with stats and finance calculations because with physics the math I work with is calculus and geometry/trigonometry. I remmber doing stuff like that a long time ago, but that was like 10 years ago. This is why I work with science and note finance.

All part of the fun, trying to find what we cant see .. lol i would love to send my formula over to iraq and let them go ahead and use it ... :lol:

[jupitergirl]

sonny1 [[[[[[[[[[[ keep.....a little input please!