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

[keepmwlknfny]

a lop doenst attract capital and investment.....

The currency doesnt matter to foriegn investors.....Iraq set a record year last year and quadrupled the foriegn investments coming into Iraq....we are talking like 70 billion dollars just from 2011, up from 40 some billion in 2010....those two years alone brought in over 100 billion dollars in foreign investments.....

[keepmwlknfny]

Is that because you think your theory is right or wrong?

Because the plan to redenominate is moving forward......I would be happy as hell if they were moving away from this....its not about my "theory" being right or wrong...I wanna make money....and this plan will not make us much of a profit if any at all

[Carrello]

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 love you JW! Want to get married? I am going to be rich soon and I won't be offended if you marry me for my money!

[lotsofdinar]

J.F., the thing that bothers me about your statement is that, if the Iraqi government is perfectly happy to screw their own people, knowing they plan to RV, what would prevent them from screwing us?

[easyrider]

I love you JW! Want to get married? I am going to be rich soon and I won't be offended if you marry me for my money!

i'll support that.

[sonny1]

The currency doesnt matter to foriegn investors.....Iraq set a record year last year and quadrupled the foriegn investments coming into Iraq....we are talking like 70 billion dollars just from 2011, up from 40 some billion in 2010....those two years alone brought in over 100 billion dollars in foreign investments.....

i was quoting there article.isnt that what you have been doing with this whole lop thing?

they would of already lopped if that was there play.....

[unirod]

IMO... There is a dual process going on here. The last paragraph identifies this.

By "the new Iraqi currency will increase by three zeros"........................................... to me this say's the exchange rate will increase to a positive decimal point or 1.0 + ??

BY "the lifting of the zero's will strengthen the VALUE of the Iraqi currency "............To me this say's that they will/are removing three zero's OUT of circulation

So this is consistant with 2010 articles that stated the new and old currency's would co-exist for a time untill the three zero currency is gradually removed out of circulation.

So an R/V MUST be activated for all this to go down..........This IMO must be imminent!!!!!!

[sonny1]

J.F., the thing that bothers me about your statement is that, if the Iraqi government is perfectly happy to screw their own people, knowing they plan to RV, what would prevent them from screwing us?

as dumb as this may sound, they dont need there own people, they still need us...

[easyrider]

IMO... There is a dual process going on here. The last paragraph identifies this.

By "the new Iraqi currency will increase by three zeros"........................................... to me this say's the exchange rate will increase to a positive decimal point or 1.0 + ??

BY "the lifting of the zero's will strengthen the VALUE of the Iraqi currency "............To me this say's that they will/are removing three zero's OUT of circulation

So this is consistant with 2010 articles that stated the new and old currency's would co-exist for a time untill the three zero currency is gradually removed out of circulation.

So an R/V MUST be activated for all this to go down..........This IMO must be imminent!!!!!!

its imminent because the new 2012 budget is about to be implemented the banks are ready what more is there to do the time is NOW to Rv get ready folks.

What more is there to say???

Shabibi: the independence of the Central Bank of the umbrella of a protector of state funds

Baghdad (news) .. called Central Bank Governor Sinan al-Shabibi to the independence of the Bank that the umbrella of a protector of state funds. Shabibi said during a symposium hosted by the Foundation (range) to discuss the issue of independence of the Central Bank and attended by a reporter Agency (news): “The granting of independence to the Central Bank is of great significance because it is the umbrella of a protector of state funds, “

Afterthought: “But the government might not understand that the bank isolated it, but we are working with the market and the government significantly.”

He Shabibi: can not separation between the government and the central bank because the importance of monetary policy depends according to the law on cooperation with the government. He pointed out that the basis of the economy the Bank is to fight inflation, which happen because the government or the private sector, and works on the application of monetary policy both in the interest rates to stabilize the growth and support for banks in crisis through direct coordination.

And Shabibi: that the central bank will follow the government’s budget allocations in order to adjust the exchange rate and reduce address the imbalance

http://www.ikhnews.c..._view_8170.html

arent they balancing the sheets for 2011 as we speak or might have it done by now?

Edited January 7, 2012 by easyrider

[Carrello]

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.

Those machines are not printing machines, and if they were you would not have 15 of them all over Iraq (security). These machines are counters, counterfeit detectors, and bundlers.

Dinar Dana is a currency consultant, and has verified this. She is very familiar with the process and the machines.

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...

L - Batter up! If he strays, knock him to first base. We don't need a home run, no strike outs, just a reminder.

Speaking of reminders: the penthouse in Las Vegas will be a non-smoking suite. Rock on!

Edited January 7, 2012 by Carrello

[Striker1]

IMO... There is a dual process going on here. The last paragraph identifies this.

By "the new Iraqi currency will increase by three zeros"........................................... to me this say's the exchange rate will increase to a positive decimal point or 1.0 + ??

BY "the lifting of the zero's will strengthen the VALUE of the Iraqi currency "............To me this say's that they will/are removing three zero's OUT of circulation

So this is consistant with 2010 articles that stated the new and old currency's would co-exist for a time untill the three zero currency is gradually removed out of circulation.

So an R/V MUST be activated for all this to go down..........This IMO must be imminent!!!!!!

You are right on. That is exactly how I have come to understand what is going to happen. RV-New Currency and old currency coexist as the bank pulls in the old notes when people do cash in, will probably have a time frame-After the time is up to exchange your old notes then let the currency go up on it's own. Done nice and clean. I also think that would really instill confidence for investors in Iraq. Investors follow money.

[JWJW11]

I love you JW! Want to get married? I am going to be rich soon and I won't be offended if you marry me for my money!

I love you to C.... come down to So FL and lets see what we can make happen.....Im guna be rich to...we can be rich together!!!

[Carrello]

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?

This is a bit off topic, but I have to ask: I consider the spread a fee. In that case, the spread would be a cost of doing business, and therefore, a tax deduction. Any thoughts, or am I digging a dry well?

And of course, I would consult a tax attorney or CPA............

Edited January 7, 2012 by Carrello

[lotsofdinar]

Well, J.F., I would feel better about that if there was any evidence governments hold trillions in Dinar. Unfortunately, there isn't. And, sadly, numerous countries in the past have simply declared currency outside the country worthless. So, I hope you are right about all those governments holding trillions.

[Striker1]

This is a bit off topic, but I have to ask: I consider the spread a fee. In that case, the spread would be a cost of doing business, and therefore, a tax deduction. Any thoughts, or am I digging a dry well?

And of course, I would consult a tax attorney or CPA............

This is what I have found on that. Apparently you can write off any and all expenses. Consult a professional though. http://www.dummies.com/how-to/content/day-trading-expenses-you-can-deduct-from-your-inco.html

Edited January 7, 2012 by Striker1

[Carrello]

its imminent because the new 2012 budget is about to be implemented the banks are ready what more is there to do the time is NOW to Rv get ready folks.

What more is there to say???

Shabibi: the independence of the Central Bank of the umbrella of a protector of state funds

Baghdad (news) .. called Central Bank Governor Sinan al-Shabibi to the independence of the Bank that the umbrella of a protector of state funds. Shabibi said during a symposium hosted by the Foundation (range) to discuss the issue of independence of the Central Bank and attended by a reporter Agency (news): “The granting of independence to the Central Bank is of great significance because it is the umbrella of a protector of state funds, “

Afterthought: “But the government might not understand that the bank isolated it, but we are working with the market and the government significantly.”

He Shabibi: can not separation between the government and the central bank because the importance of monetary policy depends according to the law on cooperation with the government. He pointed out that the basis of the economy the Bank is to fight inflation, which happen because the government or the private sector, and works on the application of monetary policy both in the interest rates to stabilize the growth and support for banks in crisis through direct coordination.

And Shabibi: that the central bank will follow the government’s budget allocations in order to adjust the exchange rate and reduce address the imbalance

http://www.ikhnews.c..._view_8170.html

arent they balancing the sheets for 2011 as we speak or might have it done by now?

Looks like they are "balancing" a few years going back. I am not sure if they article made it over here, but it is interesting. I will see if it is here, if not, I will borrow it from BL.

[zigmeister]

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.”

I am not sure what this is implying anyone?

[Carrello]

You are right on. That is exactly how I have come to understand what is going to happen. RV-New Currency and old currency coexist as the bank pulls in the old notes when people do cash in, will probably have a time frame-After the time is up to exchange your old notes then let the currency go up on it's own. Done nice and clean. I also think that would really instill confidence for investors in Iraq. Investors follow money.

I think that is why it will be 1:1.

[E. 1999]

IMO... There is a dual process going on here. The last paragraph identifies this.

By "the new Iraqi currency will increase by three zeros"........................................... to me this say's the exchange rate will increase to a positive decimal point or 1.0 + ??

BY "the lifting of the zero's will strengthen the VALUE of the Iraqi currency "............To me this say's that they will/are removing three zero's OUT of circulation

So this is consistant with 2010 articles that stated the new and old currency's would co-exist for a time untill the three zero currency is gradually removed out of circulation.

So an R/V MUST be activated for all this to go down..........This IMO must be imminent!!!!!!

Maybe when they say they are removing the 3 zeroes they are just talking about strictly and literally pulling in the large notes through an rv... the beginning of the whole revaluation process....and through this the implement the smaller bill... i dunno

[Carrello]

I love you to C.... come down to So FL and lets see what we can make happen.....Im guna be rich to...we can be rich together!!!

Well, I did not include one caveat: older woman! You might want to rethink this. But you do know I will be rich and fiesty! I had to let Easy down too because I am closer to being his Aunty Carrello.

Edited January 7, 2012 by Carrello

[Stryker365]

Because the plan to redenominate is moving forward......I would be happy as hell if they were moving away from this....its not about my "theory" being right or wrong...I wanna make money....and this plan will not make us much of a profit if any at all

I like our theory better keep but good luck with yours....lets hope yours is wrong...

[Carrello]

This is what I have found on that. Apparently you can write off any and all expenses. Consult a professional though. http://www.dummies.com/how-to/content/day-trading-expenses-you-can-deduct-from-your-inco.html

Thank you very much. I appreciate your effort.

I am not sure what this is implying anyone?

I thought it meant the cost of printing new currency. The number sounded about right IMO.

Edited January 7, 2012 by Carrello

[keepmwlknfny]

i was quoting there article.isnt that what you have been doing with this whole lop thing?

they would of already lopped if that was there play.....

Quoting them and also adding to it information about the process of what deleting the zeros is and what redenominating does......

They have had to plan this out the past 5 years with the IMF....I dont know why everyone thinks that a lop is just so simple but to plan a RV is very delicate and takes lots of time....especially when a lop would actually include raising the value of the new currency just as a normal RV would....

But with either scenario, if the economy isent stable enough or they dont think they can control inflation and keep a new value stable, they wont do it...they dont wanna run into any problems in the future that would or might require them to RD again like some countries have had to do...

[Francie26]

Francie, when they traded in those Dinar for USD, they took a 1000x haircut. It's gone. New currency will never bring it back.

You just didn't see the original information, but you are wrong on this. However, this is my last reply to you. I have no intention of arguing with you over this point. Good luck on finding the answers you want.

[Stryker365]

Quote; 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.”

I am not sure what this is implying anyone?

Sounds to me zig that there's going to be some profit to be made,....and this $150 million is just a drop in the bucket,.... I too was thinking this was an interesting quote....but I like it....