Iraq Finance Committee: Announces the end of the first phase of the project to delete the zeros from the currency

[lotsofdinar]

"first was the auctions and pulling in trillions of dinar and purchasing and set up the de larue machines"

So you think they have already pulled most of the Dinar off the Iraq streets? That that phase has been completed?

[Francie26]

Lol.....you do understand that the entire project will be completed within the year.......the RV will be an overnite action.....at which point they will remove the remaining large denoms..........then they will release the lower denim's.

Your right they need a year to make it all happen......as the whole process will be not be overnite.

It pretty clear at this point that we are already a year into the 2 year processes they've been describing.........first was the auctions and pulling in trillions of dinar and purchasing and set up the de larue machines......and NOW the moment we've all been waiting for......AN RV BABY!!!

I soooo love the way you think!!

[JWJW11]

I love it when JWJW talks like this.......

I got to get a smoke.........just kidding..

Don't smoke man......congrats on quitting! Keep it up.........you are gonna have plenty to this week to keep you busy!

[Alex38]

The CBI had announced earlier that the new Iraqi 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

Read more:

increase by three zeros

.00086 note the three zeros.

now, LIFT them out of the way, and you have an increase.

.86 which is actually $1.17

lifting of the zeroes will strengthen the value of the Iraqi currency

Which is EXACTLY what happened in the above theory.

as far as I am concerned this totally kills any and all l o p theory as it perfectly

explains what lift means.

agreed.

[Francie26]

I love it when JWJW talks like this.......

I got to get a smoke.........just kidding..

Hang in there, Stryker. I've done a lot of things in my life, many of which I am proud of, but I quit smoking, and when I finally realized I was over the worst of it, I've never felt so heroic!! It was the greatest battle of my life! It's highly winnable, but you will be pushed, pulled, tried, and hammered pretty hard first. (Just so you know that it can be done, and therefore, you can do it. Don't forget that part. <smile>)

[sonny1]

its a pure guess, but when they say equipment, i think they mean they have the smaller denoms, i would think since the dinar is there currency, and everyone is so crooked over there, they would of already had the delarue machines..........dont ya think...

it could also be atm's, the installation of the world banking system program to go tradeable, i do think the second step would be a rv, and the 3rd step would be sucking in all 3-0'ed notes, and distribution of small notes. i dont see the rv being the 3rd step. imo

[Striker1]

Your giving your opinion, it does not say when it will start, thats my point......when giving an opinion its nice to state that its your opinion but you stated it like its fact that all I'm saying.

Wow stryker, 5 day's no cigg, congrats, I am going on my 4th day, but I am not sure what the time frame is, however if they are following a specific set of events to RV then we may very well be waiting a little longer. I sure hope not. Just preparing myself for the rest of this year as there have been a lot of 2013 articles. JMO.

[katshamm]

As usuall this story has 2 sides. Can they RV before dropping the zeros? Or do they get the money in the market and then RV?

My question is How can they keep the current large bills and RV when they are making new money with in a year? Any thoughts?

[Francie26]

"first was the auctions and pulling in trillions of dinar and purchasing and set up the de larue machines"

So you think they have already pulled most of the Dinar off the Iraq streets? That that phase has been completed?

I think it was just last week that they were talking about withdrawing so much dinar from the streets and putting dollars out there to fill in for them. So it sounds to me like that part has been done, or at least has a good start.

[Alex38]

its a pure guess, but when they say equipment, i think they mean they have the smaller denoms, i would think since the dinar is there currency, and everyone is so crooked over there, they would of already had the delarue machines..........dont ya think...

it could also be atm's, the installation of the world banking system program to go tradeable, i do think the second step would be a rv, and the 3rd step would be sucking in all 3-0'ed notes, and distribution of small notes. i dont see the rv being the 3rd step. imo

BANG!!! CONGRATS!!! I DIG IT!!!

[lotsofdinar]

"I think it was just last week that they were talking about withdrawing so much dinar from the streets and putting dollars out there to fill in for them."

This is what keeps confusing me. How does it benefit the Iraqi people to RV after convincing them to exchange their Dinar for USD? If most of the Dinar has been removed from the Iraqi streets, an RV does nothing for the people. The only people benefiting from an RV are those holding Dinar.

Edited January 7, 2012 by lotsofdinar

[Francie26]

its a pure guess, but when they say equipment, i think they mean they have the smaller denoms, i would think since the dinar is there currency, and everyone is so crooked over there, they would of already had the delarue machines..........dont ya think...

it could also be atm's, the installation of the world banking system program to go tradeable, i do think the second step would be a rv, and the 3rd step would be sucking in all 3-0'ed notes, and distribution of small notes. i dont see the rv being the 3rd step. imo

I remember a few months ago, they bought a large number of De La Rue machines, and we all speculated about what they were going to do with them. Do you think they have already been printing the new currency (with the Kurdish language on them) with those machines? I'm just wondering if they already have the new currency printed and ready to put into the marketplace. I am encouraged by your comment that the RV would not be the third step, but rather one coming any time, as in now.

[DinarBot]

Iraq Finance Committee: Announces the end of the first phase of the project to delete the zeros from the currency

Posted: January 7, 2012 in Iraqi Dinar/Politics

Tags: Baghdad, Central bank, Council of Representatives of Iraq, Currency, Iraq, iraqi, United States Senate Committee on Finance, World Bank

Saturday, 07 December / 2 January 2012 12:11

{Baghdad} Euphrates News announced the Finance Committee in the Iraqi Council of Representatives on Saturday for the end of the first phase of the project to delete the zeros of the Iraqi currency, which included the purchase of equipment for the implementation of the project.

Iraq is working on a project to delete the zeros from the currency to facilitate financial transactions in the country with the country’s openness to international markets and try to attract capital and investors to contribute to government efforts to rebuild the crumbling infrastructure as a result of decades of war and siege.

A member of the Committee Haitham Jubouri, told {Euphrates News} that “the proposed deletion of zeros from the currency of the Iraqi Atksm into three phases, the first included the identification and purchase of equipment and the necessary equipment and completed the start of this year, and it is hoped that the project is completed within the next year to present the new currency in the market and is then gradually withdraw the old. “

The CBI had announced earlier that the new Iraqi 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.

He Jubouri that “the project will cost U.S. $ 150 million, and this little amount will be offset by the profits derived by the World Bank and the State Treasury of traders who Sistgnon the U.S. dollar, which they preferred for their small size and high value, and Istbdoulh currency of the new Iraqi.”

http://bit.ly/xPslft

The Machines... confirmation.

http://www.cbi.iq/documents/Universal-1.en.pdf

[sanders2340]

Is the second phase buying back my three zero notes???H

[Stryker365]

Don't smoke man......congrats on quitting! Keep it up.........you are gonna have plenty to this week to keep you busy!

Not going to JWJW, wife is standing by with the frying pan.... ....thanks for the support and I'll be glad to stay busy this week...

[Francie26]

As usuall this story has 2 sides. Can they RV before dropping the zeros? Or do they get the money in the market and then RV?

My question is How can they keep the current large bills and RV when they are making new money with in a year? Any thoughts?

I think they could substitute dollars on the streets for any Iraqi currency that's out there. That is what they were doing last week, I believe.

[MahiMahi]

Lets take it a step further... "Increase by 3 zeros"... Lets use the example below.

We will start out with a 1,000 dinar bill.

ex: 1,000 IQD bill. In the next example we will "increase by three zeros"

ex: 1,000,000<<< increased by 3 zeros

The CBI had announced earlier that the new Iraqi 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

Read more: http://dinarvets.com.../#ixzz1imgU33pl

increase by three zeros

.00086 note the three zeros.

now, LIFT them out of the way, and you have an increase.

.86 which is actually $1.17

lifting of the zeroes will strengthen the value of the Iraqi currency

Which is EXACTLY what happened in the above theory.

as far as I am concerned this totally kills any and all l o p theory as it perfectly

explains what lift means.

Edited January 7, 2012 by MahiMahi

[westy33567]

"it is hoped that the project is completed within the next year to

present the new currency in the market and is then gradually withdraw the old."

The article is describing a process, not an overnight action.

Yes true, however, this is a three phase plan, and maybe they are talking about getting the old dinar back within a year. The process has started and will be accomplished by the end of the year is the way I take it. At least we are again another step closer.

[lotsofdinar]

Francie, if you lived in Iraqi and they RV'ed, which would you rather have, Dinar or USD? The only people who would benefit from an RV would be those holding dinar. Why would they have taken the Dinar from the people before RV'ing?

[JWJW11]

"I think it was just last week that they were talking about withdrawing so much dinar from the streets and putting dollars out there to fill in for them."

This is what keeps confusing me. How does it benefit the Iraqi people to RV after convincing them to exchange their Dinar for USD? If most of the Dinar has been removed from the Iraqi streets, an RV does nothing for the people. The only people benefiting from an RV are those holding Dinar.

Cause after the RV..........at 1-1........they can exchange their dollars in for dinar......the dinar is the in urrency of Iraq......that's where they are going with this.......

[Stryker365]

Hang in there, Stryker. I've done a lot of things in my life, many of which I am proud of, but I quit smoking, and when I finally realized I was over the worst of it, I've never felt so heroic!! It was the greatest battle of my life! It's highly winnable, but you will be pushed, pulled, tried, and hammered pretty hard first. (Just so you know that it can be done, and therefore, you can do it. Don't forget that part. <smile>)

Thanks Francie, I am determind to quit but your right it will try your every nerve thats for sure...looking forward to being heroic....

[lotsofdinar]

Cause after the RV..........at 1-1........they can exchange their dollars in for dinar"

But they wouldn't be any better off then they were before.

[westy33567]

Hang in there, Stryker. I've done a lot of things in my life, many of which I am proud of, but I quit smoking, and when I finally realized I was over the worst of it, I've never felt so heroic!! It was the greatest battle of my life! It's highly winnable, but you will be pushed, pulled, tried, and hammered pretty hard first. (Just so you know that it can be done, and therefore, you can do it. Don't forget that part. <smile>)

I quit the day my 2nd daughter was born. That is 17 years now. The first 3 weeks are a b i t c h, but after that it gets easier. I do know if I were to smoke a cigerette today, I would be smoking a pack by the end of the week. It is like any addiction. Kick fight scratch, do what ever you can to make it thru the 3 weeks, it will be well worth it, I assure you!

[Patriotic_mess]

So this was dated a month ago and they said by the next year (which would be 2012). With any luck they're printing 1,5, 10, and 20 Dinar notes right now!

I'm interested to see how the lopsters view this article.

[MahiMahi]

Cause after the RV..........at 1-1........they can exchange their dollars in for dinar"

But they wouldn't be any better off then they were before.

They'll make money on the spread. But shouldn't you consider the trillions of dinar that they pulled out of circulation when it was 1186:1?