Parliamentary: Delete the three zeros does not lead to the strengthening of the dinar

[trooper]

Parliamentary: Delete the three zeros does not lead to the strengthening of the dinar

Translated by Iraqdirectory.com - [11/27/2011]

The implications of the subject to delete the zeros and its impacts on the field is communicating on the local economy, which continues towards the study of this step accurately in this field, and the mechanisms used in the process of replacement of this block large cash distributed in local, at a time, economists and those interested disagreed on the results of this step , as described by some as going a step towards raising the value of Iraqi dinar, as were the views of the opposite direction.

In this regard, a member of the Finance Committee in Parliament Najiba Najib said the project to delete the zeros of the currency does not lead to the strengthening of the Iraqi dinar against foreign currencies, saying that a mere formality for the restructuring of the currency.

Najib said in a statement to (news): that the draft deleted three zeros from the Iraqi currency is not working to increase the value of the Iraqi dinar against foreign currencies, but is a matter of formality for the restructuring of the currency and reduce the money supply.

She explained that the project to delete the zeros of the Iraqi currency will make it easier for banks, merchants and owners of large sums of money transfer money from one place to another, contrary to what it is now the currency of the current that they are replaced in a foreign currency. She pointed out that the objective of this project is to restructure the currency and make it the most heavily traded by investors and Iraqi banks and stay away from trading in foreign currency, as it reduces the bloc's monetary currency, and continued on to say: This project presented a proposal by the Central Bank of Iraq had not seen the Iraqi parliament to the details in full, whether occurring meeting just between the Department of the Central Bank and Finance Committee, the parliamentary emphasized that they intend to implement this project. and called a member of the Knesset Finance not to rush the implementation of such a large project time-a few, but must be studied in detail to find out the negative aspects and positive, stressing the need to spread awareness to the citizens through the media of how currency exchange and use.

The Deputy Governor of the Central Bank Mudher Mohammed Saleh, said earlier: The draft deleted three zeros from the currency is still exist and has not been affected by any criticism. It faces noting that a national project must be implemented, he said, «that many of the countries of the world has gone through this experience and successful in its application and exceeded all the conflicts and the decline in economic reality to them », pointing out that the project will be deeply studied more and show understanding and explained to the public and it is not legitimate real-time, but long-term needs a long time to apply, likely that they will be applied after more than a year from now .

http://www.iraqdirectory.com/DisplayNews.aspx?id=17553

[mrmcwhipit]

Lets hope just smoke

[fastarnie]

With all the articles today and in the past 2-3 mths I'm really starting to get excited again. I hope it happens sooner than later. Stay grounded and on top of your finances, bills, and save for christmas.

[kaRV]

IMO deleting the zeros does mean a lop but it won't be implemented til 2013. So before that (meaning soon) they will raise the zeros (exchange rate) then when people cash in their old notes they will remove the zeros (keep the notes out of circulation). This will give us a year to cash in the old notes and in 2013 they will lop the old notes when they introduce the new language notes (RD). In the mean time, Iraq will use the smaller notes that were also printed in 2003 that were not introduced temporarily. IMO Saleh can only talk about deleting the notes at this time to warn the people that their old notes will lop in 2013 and to curb speculation. He will not come out and tell us straight up that they will raise the value of the dinar. But he can warn us that they will eventually fully RD. I would be pissed to hear that I missed the cash in window. I'd be like what? **** this gov't!

[Doctor Smith]

IMO deleting the zeros does mean a lop but it won't be implemented til 2013. So before that (meaning soon) they will raise the zeros (exchange rate) then when people cash in their old notes they will remove the zeros (keep the notes out of circulation). This will give us a year to cash in the old notes and in 2013 they will lop the old notes when they introduce the new language notes (RD). In the mean time, Iraq will use the smaller notes that were also printed in 2003 that were not introduced temporarily. IMO Saleh can only talk about deleting the notes at this time to warn the people that their old notes will lop in 2013 and to curb speculation. He will not come out and tell us straight up that they will raise the value of the dinar. But he can warn us that they will eventually fully RD. I would be pissed to hear that I missed the cash in window. I'd be like what? **** this gov't!

Now I've heard them all I think. I hope your right.

[Ateam]

Why do we talk about smoke and mirrors? If it has not RV'd yet then they are not blowing SMOKE so stop saying that! That is a term used by pumpers to get you to think that Iraq is full of it yet they are telling us the truth. No RV - so must be those who use that word are pushing smoke and mirrors.

[krucialmix]

This is a great article and at a perfect time . Just like China and Kuwait, they denied that the RV was going to happen in the media and then like a couple days later---BAM! RV!

I am excited about tomorrow now more than ever!!

[Flyers1]

Comparing Apples to Oranges especially in Kuwait's case, totally different situation and even if it wasn't Kuwait had only a tiny fraction of the numbers of Kuwaiti Dinar vs the 25 to 30 Trillion Iraqi Dinar that's in circulation today. Why can't people understand that Iraq can not RV with Trillions of Dinar in circulation? As long as those figures are at that astronomical level it's impossible for them to RV to any significant rate, if they RVed (even if they could) at only $1 and had "only" one Trillion Dinar in circulation that would be FIVE times the worth of Saudi Arabia's currency and Iraq has between 25 and 30 times that much Dinar! Think about it if there are 4 Trillion Dinar held by speculators in the U.S, and that number is possibly even higher, then if Iraq could RV to even just $1 they would have to pay out to speculators here in the U.S. a sum of TWENTY times the worth of Saudi Arabia's currency! Does anyone honestly think Iraq would pay out twenty times the Saudi worth to American currency speculators? That is even if such a thing were possible which it isn't. Come on folks look a the numbers, this thing does not add up and there is no possible way Iraq can RV until it gets that currency supply down into the low Billions. With Trillions held by speculators there simply is no other practical way to do this except for doing what they are plainly telling us they are going to do, think about it.

Doug as I said before, I REALLY appreciate your input on the currency suppy....but you write the SAMETHING over and over and over. May I ask you why you do it? Not trying to pick a fight just curious.

[ashtray]

they are getting new currency to impliment arbil agreement .. its in the kurdistan constitutuiion that the currency must have kurdish writing on it .. it will also include english as well as arabic ....putting english language on their currency is proof of rv coming to america ... we dont have an one elses language on our currency... should be coming soon .. once military is safly out of country with all their contractors ...it would be hard to have rv ....knowing all your contractors in theator own iraqi dinars and would just quit their job once they found out they were rich ..but the time is near ...and they wont care that the contractors go home ..all the truck drivers ect.should be just about done ...our mission is complete and on schedule a little early too ..about a month early .. but they wouldnt be leaving if they were not complete with their mission ..if any one touchs iraq now while they are volnerable .. they will get pummled .. carpet bombed and maybe more .

[Flyers1]

Doug, if you haven't figured out this forum by now then your not as smart as I thought you were. Your sort of like a scratched record...someone should give you a bump to stop repeating yourself. Either way, you keep pluggin away. Peace.

Doug I understand your frustration. But there is only so many way's you can explain how you feal. And in my opinion you've done all you can. I just don't understand why your putting yourself through all of this. If you feel you have to explain to every newbie how you feal about the Dinar...then go for it. You have a good night Doug!

[R Veyron]

All they have to do to strengthen their currency is RV. Plain and simple.

[zigmeister]

Why would they do such a thing? The Iraqis are not willing participants in this investment and they DO NOT like speculators, they are highly likely to do anything they can to avoid paying any speculator any profit at all! We need to stop spending so much time trying to figure out ways for them to do this in a way that makes us rich and look at how they might do it to keep from paying us anything because that's what they will try to do, after all they are Iraqis looking out for other Iraqis and not American speculators! We must stop and think what would we do if we were in THEIR position? Would we RV the currency to the few cents that would be possible without a RD and then pay out BILLIONS of Dollars to make American citizens rich or would we RD that currency down to a sensible level that would make it possible to RV to $1 to$3 and keep those Billions home for our citizens instead of putting it in the pockets of foreign speculators? Come on now be honest, what would we do? REALLY?

Don't know if you read what I said before the edit but while it was not meant to be a smarta## reply it sure looked that way, that was not my intention and I apologize for it.

Let's try this again, to be honest with both you and myself I can explain in one word...frustration.

The last few days have been a real eye opener for me and it has become painfully apparent the chance for any RV is slim to none and mostly none, the more I crunch these numbers the more I realize what the financial pros that have been calling this thing a scam were talking about. The Iraqis are not lying to us, they fully intend to RD this thing just like they say and just like other countries before have done when in the same situation.

There is always the possibility of an RD no doubt about it. No one can say on this board that equation could not happen. However they can do an RV as well. They do not have to pay up front really. I believe it is very possible the cash in money can be set aside for credit via oil contracts. It can go either way. We will see.

Ummm however I do think the US has sold out to foreign speculators on more than one occasion.

[Kanga]

I feel Scooter did a great job proving that the IQD was worth about 23 cents each about 6 months ago. I believe Adam with his thoughts of about a dime, so that it can gradually increase. I will be a very happy man at 23 cents, trust me. I will be on the road to develop and start several businesses and investments at 10 cents per IQD. Sure make my day and have it RV at a dollar.

I am grounded and do not believe for a second that it will be worth less than 10 cents after they do what they do.

Just my

[mrmcwhipit]

Well this thing, was and still is, mostly a one sided point of view and if you notice I do not reply to people talking about how much they are convinced the RV is near or how much money they are going to make, etc but when questions are asked and opinions are given about how something is going to be done that's what we are all here for, people give the same old advice over and over and misguided or not as long as it's positive all is good but if someone says "whoa here these numbers are impossible" and then goes on to show what he means he gets vilified no matter what. The numbers I came up with are not just random ideas of what "might" be but are the result of unbiased research and the figures are pretty much accepted and entirely plausible while the math is just that, math and there is no question about that. Maybe what I am saying is just not what some want to hear but is not talking about it going to make it go away? This RD thing is real whether it happens or not and we don't need to just blindly ignore the inevitable if it's coming and at this point it darn sure looks like it is. It does not matter if people neg me right off the site it is not going to change what's going to happen and I have said nothing I did check out first, if I'm wrong I would be as happy as everyone would be who disagrees with me if someone will prove me wrong. I honestly don't want to be downer but I see what's happening and I for one do not just close my eyes and pretend, sorry but more people need to look at what's happening.

there it goes again, man somebody fix that record.

[skitealwedrop]

From an accounting/financial stand point a LOP without a prior RV would not benefit Iraq. I have thought about the scenario many times. We will see an RV first and a potential LOP after the larger notes are off the street, IMO!

[mrmcwhipit]

Here is the problem, in theory you very well could be correct but the sheer magnitude of Iraq's currency in circulation eliminates any possibility of a RV of any meaningful size. We are talking Trillions here and for comparison I will again use Saudi Arabia, the Saudis currency is at 27 cents or there about with a Dollar worth of 200 Billion, less than 1/4 of one Trillion, while Iraq at a 1 to 1 RV would have between 25 and 30 Trillion! When we consider just how wealthy the Saudis are the enormous size of Iraq;s money supply becomes obvious, there is just no possible way they could simply RV their worth into 25 to 30 Trillion Dollars, there is simply no way. Again people talk about Iraq reducing their money supply by taking the large notes out of circulation but that would still leave Trillions, a lesser amount but still an impossible amount. People try to use electronic money and fractional banking as a means to make the numbers fit but that don't work either because fractional banking just does not apply and digital money is simply money the same as physical notes and there is no way digital money allows for more more than they have, it only facilitates transactions to make them easier and in no way creates more money than they have. The bottom line is that there are Trillions of Dinar held by speculators but Iraq does not not have Trillions of Dollars to give speculators and even if they did why would they? It's all totally beside the point anyway because as of July 2009, the most recent figure I found, there was only 8.9 Trillion U.S. Dollars in circulation in the entire world and people want to believe Iraq is at a 1 to 1 RV going to somehow pay at least 4 Trillion to speculators in the U.S. alone? See what I mean? These numbers people are tossing around for Iraq are just so far out in left field it's ridiculous but people tend to get mad when someone points this out, why is that?

By doing like other countries have in the past, and what Iraq is plainly telling us they intend to do, these enormous figures become much more manageable and entirely plausible plus they don't have to pay speculators Billions of Dollars, we certainly don't like it to be that way but honestly which makes the most sense?

Really Dougy must you keep going on and on and on , unbelievable you are really on some kind of mission we get it man really we do, your simply saying that iraq cant and isnt going to RV, done. ok now you can write another book.... go.

[FishmanTx]

Najib said in a statement to (news): that the draft deleted three zeros from the Iraqi currency is not working to increase the value of the Iraqi dinar against foreign currencies, but is a matter of formality for the restructuring of the currency and reduce the money supply.

Read more:

All that is said here is that there is disagreement in Parliament and she is clarifying that the "process of delete the zeroes" is not what is going to raise the value, but is only part of the entire process. The rest we've heard before...

Edited November 28, 2011 by FishmanTx

[krucialmix]

I am probably going to be accused of being the broken record again but I have to ask,

You say you do not believe for a second it will be worth less than 10 cents but here's the numbers I came up with.

If there are 4 Trillion Dinar held by speculators in the U.S, and it appears likely there actually could be more, then a 10 cent RV would be 400 Billion Dollars Iraq would have to pay out to just the U.S. alone.

Now with Saudi Arabia having a currency worth of 200 Billion Dollars that would mean you are expecting Iraq to pay to American speculators a sum that is TWICE the worth of the Saudi currency?

I am not trying to be a smart#### but, honestly, does anyone besides me see anything wrong with this? Why am I being vilified for pointing this out?

And this does not even address the question of why, even if it was somehow possible, would Iraq pay out to speculators sums of money larger than some of it's wealthy neighbors' currency is worth? The Iraqis are not stupid! They do not like speculators and are far more likely to choose a method of strengthening their currency that keeps their money at home rather than pay it out to foreign speculators, especially Americans!

You keep saying Iraq "pays out" the RV money when that's not how it even works!

[Hawaii 50]

Why do we talk about smoke and mirrors? If it has not RV'd yet then they are not blowing SMOKE so stop saying that! That is a term used by pumpers to get you to think that Iraq is full of it yet they are telling us the truth. No RV - so must be those who use that word are pushing smoke and mirrors.

That's all the Trooper. Always doom and gloom never anything positive. He just posts on all kinds of different topics .

[trooper]

That's all the Trooper. Always doom and gloom never anything positive. He just posts on all kinds of different topics .

Iraq: Iraqi dinar is stronger currencies Arab region !!!

Nov 27th

November 25, 2011 m

The dawn of the Iraqi Central Bank economic surprise announcement that the Deputy Governor Reserve Bank's foreign currency amounted to about sixty billion dollars, the highest on Iraq.

This announcement was commonly denied or that the common problems in Iraq permanently,but encompassed the other surprise is that any currency dinar has become one of the strongest currencies in the region including the Gulf currency, according to contexts of monetary policy. We will try in this episode, that translate to the Iraqi citizen How will this surprise on his daily life.

link !!! http://www.alarabiya....25/179177.html

Read more:

[tigerstripes]

All that is said here is that there is disagreement in Parliament and she is clarifying that the "process of delete the zeroes" is not what is going to raise the value, but is only part of the entire process. The rest we've heard before...

Yep, that's what I got from the article as well. Any thoughts on what they might be thinking of in terms of raising the value?

[keepmwlknfny]

Yep, that's what I got from the article as well. Any thoughts on what they might be thinking of in terms of raising the value?

If they did raise the value after deleting the zeros it would probly be around 86 cents...somewhere very close to the dollar....

I just hope they dont go that route......maybe Maliki will save us....

[tigerstripes]

If they did raise the value after deleting the zeros it would probly be around 86 cents...somewhere very close to the dollar....

I just hope they dont go that route......maybe Maliki will save us....

And who would have thought we'd be pinning our hopes on that guy??

I still think there's hope though. They talk a lot about removing zeros from the new currency. They don't give too much away about their plans for the old currency.

[Dinarabot]

Actually, not all dinar that is "cashed in" will be turned in to Iraq right away....

[FishmanTx]

It's not??? This money has to come from somewhere and if Iraq is buying back it's own currency they who is paying for it?

In the US, it'll be exchanged for USD then processed through the banking system to the treasury which will use it as foreign reserve for the purchase of oil per the agreement Iraq made with the US (and whatever else they decide to do with it). Speculators? What speculators? It's not a Forex or any other xxx-EX traded currency. You could classify us as speculators in a general sense, but then we don't count due to the aforementioned agreement.

Edited November 28, 2011 by FishmanTx