Officials are turning their homes into banking shops waiting for delete zeros dinar

[rykone]

Can anyone explain what this article is saying?? I would appreciate it, Thanks!

Merchants opportunity continue to damage the Iraqi economy. Officials are turning their homes into banking shops waiting for delete zeros dinar

20/7/2011 12: 00 am

Future Iraqi/Special

Countdown to decrease approaching zero Iraqi currency by three zeroes down in step to the Central Bank of Iraq to reorder rules the Iraqi economy, supported by groups began inside the green zone with currency dealers to collect and store the greenback dollar ready to stage tskit zeros Iraqi currency and you turn her into a thousand dinars, IQD to figures almliaret that invaded the culture of the Iraqi economy.

A source from inside the green zone, says that some apartments for senior officials and officers shifted to non-banks to financial storage specifications match because they filled US dollar currency and is the gains added to dealers this profit exceeds 100%, where it will be the amount of Iraqi currency sold and the buyer of the dollar the US currency is the same amount that the Iraqi dinar will again after empty Iraqi currency.

This process affected and three days ago at the level of trading currencies in Central but invisible to this moment, but will cause significant problems on the economic level for the period ahead.

Merchants opportunity who make a living at such stages are active in harm to the Iraqi economy and provoke crises between the people who started many converts of his money to the US currency, which is almost universal in Iraqi markets looking for safety in keeping their sources finance through transfer to the dollar and then deal with the new Iraqi currency, the conviction that prevail in the market now, the process of replacement of zeros of Iraqi currency, which the Government is seeking to be implemented during the period between This month and the end of this year.

It is expected to emerge many problems and conflicts in society and in the Iraqi economy if the project was implemented without education and promoted by the Government in the media and special government channels to switch currency and not count on the black market and banking companies that are currently being accused of feeding the rumor about what topic will get if the project was implemented as a means of increasing the opportunities for speculation by raising the purchase price of the dollar vis-à-vis the Iraqi dinar in the flagrant exploitation of public ignorance of fact a bank.

Economic circles demanded an integrated programme for awareness and transparent program delete zeros because these decisions aren't just purely financial decisions but is located in the heart of the daily life of citizens.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.almustakbalpaper.net%2FArticleShow.aspx%3FID%3D5973

Edited November 18, 2011 by rykone

[kenshin7]

this looks like a rehash of a older article that was out a few months back.

[Striker1]

To me it basically say's everything I have been dreaming of. They are not going to lop and there are people stock piling Dinar waiting to cash in. The real plan seems to be being pushed to the front.

[simon8957]

Great article...

The verbage is a little rough do you take it as dinar will = a dollar and by now and the end of year....I just cant wait for one of these articles to come true....

[fnbplanet]

Wow, really bad translation. GIGO, I guess.....

I've seen this before. Government employees in the green zone selling USD for IQD, because of rumors that it will be worthless when the currency changes. With USD, they are allegedly safe, and can use it to buy the new Iraqi currency. They are being tricked into paying a premium on the USD too.

BTW, I love, LOVE, LOVE this line from above:

"the process of replacement of zeros of Iraqi currency, which the Government is seeking to be implemented during the period between This month and the end of this year."

Edited November 18, 2011 by fnbplanet

[klplatt81]

Article is dated July 20

[zigmeister]

It is an old one. But what they seem to be stock piling is US dollar. Why? My thought is, the people who do not trust the banks will go to them turn their dinar to them for the dollar, the stock pilers then turn in the dinar at the banks.

[Darin]

Wow, really bad translation. GIGO, I guess.....

I've seen this before. Government employees in the green zone selling USD for IQD, because of rumors that it will be worthless when the currency changes. With USD, they are allegedly safe, and can use it to buy the new Iraqi currency. They are being tricked into paying a premium on the USD too.

BTW, I love, LOVE, LOVE this line from above:

"the process of replacement of zeros of Iraqi currency, which the Government is seeking to be implemented during the period between This month and the end of this year."

Great observation!!!

Basically, what the officials are doing within their own homes is quite the opposite of what the GURUs are doing here... Ironic, right?

Gurus here are pumping the IQD

Officials there are basically pumping the USD

See, the officials are using fear tactics to get others to sell their IQDs for pennies on the dollar. These officials than go to the bank & deposit the money (maybe for more USD) and simply repeat.

Why is this bad?

-- R/V or R/D, wealth is being schemed from the common folk

-- R/V or R/D, this is creating a downward spile of faith in the ID.

-- R/V or R/D, this is decreasing the demand of the ID.

What I find interesting.....

1 to 2, possibly 3 years of supposedly educating people of removing the 3 zeros (LOP) & people are fearful their IQD will have no value upon the implementation of the project??? You think they would have pounded out the details by now for everyone to understand.... Apparently not! I guess the media does a poor job on educating.

[zigmeister]

I don't know if it is a poor job on educating or its intentional poor reporting.

[sportfisher]

The way I'm reading it is that the merchants (currency dealers) are hurting the Iraqi economy by selling IQD and stockpiling greenbacks.

just the way it looks to me

Edited November 18, 2011 by sportfisher

[zigmeister]

The way I'm reading it is that the merchants (currency dealers) are hurting the Iraqi economy by selling IQD and stockpiling greenbacks.

just the way it looks to me

hmmmm.....your right. My question is then, why would the Iraqi people buy dinar when the dollar buys more.

[uncirculd]

from july this year. but it is nice to know that they know we know what we are doing. if you did not get that, then you must be sane.

[Darin]

hmmmm.....your right. My question is then, why would the Iraqi people buy dinar when the dollar buys more.

It wouldn't make any sense. I don't think that interpretation is right. If the economy was using the IQD more than the USD in their local economy, that would be a good thing (not a bad thing).

It would create a higher demand in IQD.

It would increase transactions & flow of IQD. ---> So, if the CBI was tryign to reduce the IQD money supply, higher use will lead to ease of removing from circulation.

No, I believe the merchants are driven by greed to use fear tactics against the common folks to drive in people to exchange their IQD for green backs. They're likely saying "Your currency may soon become worthless, hop on the green back train & hold out for the new currency"

This issue can be perceived two ways:

The merchants may have an inside scoop of a r/v & want as much IQD on-hand as possible... Or, they're taking the IQD, bringing it to the bank to exchange for USD & repeating the process with the common folk. Basially they're swindling the wealth from the common folk... But, soon IQD will be nearly non existant in the local market. This can't be good for the IQD.

So basically, the merchants are profiting, or looking to profit off of offering this service which is basically a rip-off to the common folks who use it regardless of the outcome of the IQD (R/D or R/V).

I wonder if they have internet forums over there with people spreading rumors saying... The IQD will plummet, get more USD...

or

"I have contacts in the U.S. that say Joe Biden yaadada"

You get the drift.. Like the complete opposite that happens w/ the guru b.s. on our side.

[X-MAN]

WELL LET ME ASK YOU A QUESTION DARIN BEING THAT THIS IS DATED SOME TIME AGO AND DO REMEMBER THE POST STATING THAT THERE WAS SUPPOSE TO BE 4 TRILLION NOTES IN THE MARKET PLACE AT THE PRESENT TIME IT A GOOD CHANCE THAT WHAT GOING ON AS YOU HAVE SAID IN YOUR POST But, soon IQD will be nearly non existant in the local market. This can't be good for the IQD. DO YOU THINK THERE COULD BE A CONNECTION BETWEEN THOSE TWO ARTICLE

[Darin]

WELL LET ME ASK YOU A QUESTION DARIN BEING THAT THIS IS DATED SOME TIME AGO AND DO REMEMBER THE POST STATING THAT THERE WAS SUPPOSE TO BE 4 TRILLION NOTES IN THE MARKET PLACE AT THE PRESENT TIME IT A GOOD CHANCE THAT WHAT GOING ON AS YOU HAVE SAID IN YOUR POST But, soon IQD will be nearly non existant in the local market. This can't be good for the IQD. DO YOU THINK THERE COULD BE A CONNECTION BETWEEN THOSE TWO ARTICLE

That 4 trillion number or figure has to be perceived wrong. Either it is 4 trillion because that is the true money supply of printed hard cash & the other articles have been wrong. It was simply meant to be the number of individual bills, but they meant to say 4 billion (translation error). 4 trillion notes? Each note would have to 7 or 8.. to equal what they have claimed in the past to be 28-31 trillion. Now, we know a 7 or 8 note doesnt exist, and the smallest is 50. If they had 4 trillion notes of 50 notes, that would be 200 trillion. Their highest note is 25,000.

So, I would assume that 4 trillion is either meant to be 4 billion in regards to the number of notes that exist (this is logical)

Or, they're referring to the initial print & release of IQD back in 2003/2004 - which was 6.38 Trillion, but 2 trillion was put off into reserves. Meaning they released 4.38 Trillion to the public when the new IQD was released.

Now, I've ran the theory and I am quite skeptical of 25+ trillion in existance.. That number is huge! And not much exists in the local economy, or so it seems. So 4 trillion could be the actual number of what exists (Which would be great news for us)... Right?

I know I read this article many months ago.. It was actually overlooked by many back than... I was arguing back than, that the education campaign is not doing a good job if they're looking to R/D (Lop). People shouldn't submit to such fear campaigns to let themselves be scammed so easily. Why is this bad for the economy?

-- Less IQD on the streets, less demand for IQD, less USD in banks, and more common folks losing wealth through the greed of officials offering the service.

Imagine if you were constantly exchanging your money for a 25%++ loss... Now imagine if many people were doing that in a market... A large group of people now have less money to spend which damages the economy... not to mention, they'll be spending greenbacks which creates a higher threat of dollarization & less demand of IQD.

This event is in reality somewhat good for us in a way... It may expedite the process of implementing the project (whichever they have in mind). So, what that means... We may soon find out what the end of this ride will look like.. I'm just hoping for a happy ending. (Not a sad one - R/V over R/D)

[zigmeister]

It wouldn't make any sense. I don't think that interpretation is right. If the economy was using the IQD more than the USD in their local economy, that would be a good thing (not a bad thing).

It would create a higher demand in IQD.

It would increase transactions & flow of IQD. ---> So, if the CBI was tryign to reduce the IQD money supply, higher use will lead to ease of removing from circulation.

No, I believe the merchants are driven by greed to use fear tactics against the common folks to drive in people to exchange their IQD for green backs. They're likely saying "Your currency may soon become worthless, hop on the green back train & hold out for the new currency"

This issue can be perceived two ways:

The merchants may have an inside scoop of a r/v & want as much IQD on-hand as possible... Or, they're taking the IQD, bringing it to the bank to exchange for USD & repeating the process with the common folk. Basially they're swindling the wealth from the common folk... But, soon IQD will be nearly non existant in the local market. This can't be good for the IQD.

So basically, the merchants are profiting, or looking to profit off of offering this service which is basically a rip-off to the common folks who use it regardless of the outcome of the IQD (R/D or R/V).

I wonder if they have internet forums over there with people spreading rumors saying... The IQD will plummet, get more USD...

or

"I have contacts in the U.S. that say Joe Biden yaadada"

You get the drift.. Like the complete opposite that happens w/ the guru b.s. on our side.

Now that makes sense. I wonder how much IQD is getting to the bank? I am also wondering if in a way they may be doing the CBI a favor, not in the sense they have a deal with the CBI but by the fact the people do not trust the banks they would however trust these back door banks to turn in their dinar for dollars. So via the swindlers the banks are drawing in the dinar. But if these guys do have a scoop and dinar is going to be worth more than it is at the moment they win, win. On the initial transaction and then when the dinar rises in value.

[smee2]

Maybe that is where Okie has gone .. opportiunity available to pump in Iraq.

smee2

[zigmeister]

Maybe that is where Okie has gone .. opportiunity available to pump in Iraq.

smee2

Instead of a back door pumper he has moved up to a back door banker!

[SALLIBABS]

IRAQ WORKING TO REDUCE THE MASS OF CASH THRU THE DELETION OF ZEROES

how does that affect us?

[zigmeister]

IRAQ WORKING TO REDUCE THE MASS OF CASH THRU THE DELETION OF ZEROES

how does that affect us?

You must remember this is an article written in June. It is interesting to note the article refers to the implementation of the reduction of cash through the deletion of zeros to have started in June and go to the end of the year. That did not occur. Having said that deletion of zero's is not what we want, and apparently neither do the Iraqi people.

[Darin]

Now that makes sense. I wonder how much IQD is getting to the bank? I am also wondering if in a way they may be doing the CBI a favor, not in the sense they have a deal with the CBI but by the fact the people do not trust the banks they would however trust these back door banks to turn in their dinar for dollars. So via the swindlers the banks are drawing in the dinar. But if these guys do have a scoop and dinar is going to be worth more than it is at the moment they win, win. On the initial transaction and then when the dinar rises in value.

Possibly..... But, the local citizens would be spending the newly re-valued currency if that were the case... They wouldn't be converting it to USD. In the interest of the CBI, they would be better off if all IQD is held by local citizens... But after a deeper analysis, it could be just simply another way to reduce the overall supply as it is a liability. But they ahve to give up USD for it.... Either way, it may implicate things.

You pull in IQD - you push out USD

You push out IQD - you bring in USD

Maybe that is where Okie has gone .. opportiunity available to pump in Iraq.

smee2

Good one!

Maybe the officials are taking a few pages from the "book of pumper"

You must remember this is an article written in June. It is interesting to note the article refers to the implementation of the reduction of cash through the deletion of zeros to have started in June and go to the end of the year. That did not occur. Having said that deletion of zero's is not what we want, and apparently neither do the Iraqi people.

Good catch, this article isn't new.... But, I think I even read an article similar to this even before that.

It didn't receive much critiquing back than though...

I think we're always behind on the actual news that occurs anyways.. Just varies on how far behind from each topic.

[Alex38]

hmmmm.....your right. My question is then, why would the Iraqi people buy dinar when the dollar buys more.

Because they KNOW WHAT IS COMING

[sportfisher]

hmmmm.....your right. My question is then, why would the Iraqi people buy dinar when the dollar buys more.

"inside the green zone"

[zigmeister]

As I remember the other article referring to this I could not make out heads or tails as to what it was conveying and neither could anyone else. However I considered it was an insight as to what was going on in Iraq. This article was clearer, well more clear.

[TrinityeXchange]

IRAQ WORKING TO REDUCE THE MASS OF CASH THRU THE DELETION OF ZEROES

how does that affect us?

the one thing this means is there will be a transferrance of energy/value from higher denominations into lower denominations. THERE WILL BE NO LOP.

a great visual is to imagine that you are a water balloon manager. the blue balloons represent the higher denominationed dinar. the red balloons represent the lower denominated dinar. the water represents monetary value. you have a huge number of blue ballons and 1/8th the number of red balloons. your tasking is to transfer the water from the blue balloons into the red baloons and then dispose of all blue balloons. you complete the project and it is successful. your inventory is significantly reduced from previously, you will have all red balloons, no water will have been lost, and the red balloons now hold more water per balloon than the disposed blue balloons.