3 zeros sympsium

[jupitergirl]

Wednesday January 11, 2012 15:51 GMT

Raising the three zeroes from the Iraqi currency and change another new focus of the symposium was hosted by the Faculty of Business Economics at the University of Baghdad, Mesopotamia .. Deputy Governor of the Central Bank explained during the seminar that the deletion of zeros is the most important steps of economic reform in the country stating that he would rid the banking institutions of the problem, stressing the many zeros to maintain the purchasing power of the Iraqi dinar was originally covered the world.

D. The appearance of Mohammed Saleh / Deputy Governor of the Central Bank of Iraq

This reform has the level of horizontal and vertical level .. Horizontal level is the deletion of three zeros .. Means a thousand dinars dinars become one, but to maintain the purchasing power .. This saves us from the problem of multiplication of numbers Ahna today accounts Waco larger numbers annoying

Central Bank assured the Iraqi citizens that the new change will not affect the entry of citizens or their wealth or contractual obligations to them.

D. The appearance of Mohammed Saleh / Deputy Governor of the Central Bank of Iraq

Waco, one thing is necessary to insure the public that PINS does not change the income of the citizen and does not change the wealth of the citizen does not change the contracts and contractual obligations of the citizen

It is the most important will achieve the process of lifting the zeros of the Iraqi dinar - according to some - is the cancel (dollarization) the large amounts of banking transactions in addition to change the currency in the currency of a new consensus high technology to print the currency world, printing new categories of large Iraqi currency reduces the number of papers printed traded now in the market and aimed collectively to eliminate inflation, which controls the Iraqi market for decades.

http://translate.google.com/translate?hl=en&langpair=ar|en&u=http://www.alsumaria.tv/ar/Iraq-News/1-72635-.html

[lotsofdinar]

O.K. this is clearly talking about an RD,not an RV.

And the beat goes on.

[Maggie123]

Jupiter Girl This Belongs in the "Lop Section"

Just Kidding Thank You for bringing this in...

They couldn't have made it any more Clear could they?

Actually this is exactly what we should expect to hear right now... they are getting very good at it

[Nelg]

Same story, second verse.

[simon8957]

This article makes absolutle no sense. The last paragraph talks about the need to print new money, yet to handle large transactions. If it was an RD aka "LOP" there is no way they can print new money that would hanle large transactions that dosnt have the 000's thus having to raise the value.....something smells fishy.....

[zigmeister]

Or they take off the three zero's but does not change the value? hmmmm Iraq is pooping me out.

[RodandStaff]

Same story, second verse.

... that, or the chorus Nelg!

It iz what it iz... and they sayz what they sayz! ..cough, gag... I can't see through the smoke!

Thanks for the post Jupitergirl... hummmmm, don't know ya that well, but you must be outa this world!

GO RV Already Baby!!!

Edited January 12, 2012 by RodandStaff

[Abarvets]

Stayed tuned for tomorrow's episode when the finance minister confronts Shabbi at the CBI ........ As The Dinar Turns

[Terrill]

It always amazes (& humors ) me to see you peeps attempt to interpret a BAD "auto" translation . We clearly need sonny1's translator or better yet, BL please help!

Edited January 12, 2012 by Terrill

[Sanssouci]

Smoke, smoke, smoke that cigarette

Puff, puff, puff and if you smoke yourself to death

Tell St. Peter at the Golden Gate

That you hate to make him wait

But you just gotta have another cigarette...

[Nelg]

... that, or the chorus Nelg!

It iz what it iz... and they sayz what they sayz! ..cough, gag... I can't see through the smoke!

Thanks for the post Jupitergirl... hummmmm, don't know ya that well, but you must be outa this world!

GO RV Already Baby!!!

Hope it's not the chorus!!!

[Carrello]

It always amazes (& humors ) me to see you peeps attempt to interpret a BAD "auto" translation . We clearly need sonny1's translator or better yet, BL please help!

Bond Lady doesn't speak Arabic. She uses a translator on occassion, but she interpets just like many do here. She just happens to be very good.

You seem to be so smart, what is your interpretation of this article, or did you just stop by to laugh at us? Is there some contribution you have made here that I have missed, because you are apparently are someone that is very important to us. Please enlighten all of us "peeps."

[onerighthand]

Bond Lady doesn't speak Arabic. She uses a translator on occassion, but she interpets just like many do here. She just happens to be very good.

You seem to be so smart, what is your interpretation of this article, or did you just stop by to laugh at us? Is there some contribution you have made here that I have missed, because you are apparently are someone that is very important to us. Please enlighten all of us "peeps."

hehehe!

[jmw]

Wednesday January 11, 2012 15:51 GMT

.. Means a thousand dinars dinars become one, but to maintain the purchasing power .. This saves us from the problem of multiplication of numbers

http://translate.goo...s/1-72635-.html

= redenomination

[Sanssouci]

= redenomination

Why, thank you, Mr. Obvious. It's so nice to hear from Keep's fellow "traveler."

Now, can we get HopefulTxn and MrFnHappy to also do the predictable? Where's xyzzy?

Edited January 12, 2012 by Sanssouci

[DinarDana]

Why, thank you, Mr. Obvious. It's so nice to hear from Keep's fellow "traveler."

Now, can we get HopefulTxn and MrFnHappy to also do the predictable? Where's xyzzy?

Giggles from the balcony....

[Wheeler]

This article makes absolutle no sense. The last paragraph talks about the need to print new money, yet to handle large transactions. If it was an RD aka "LOP" there is no way they can print new money that would hanle large transactions that dosnt have the 000's thus having to raise the value.....something smells fishy.....

It appears that you have some kind of misunderstanding about what happens during an RD. An entirely new currency is printed, that has (in the case of a 3 zero "lop") 1000x the value of the old currency. You take your old currency and exchange it at the rate of 1000 to 1 for the new currency which, since its worth 1000x as much, is a value neutral event.

So you could exchange 4 old 25,000 notes for one new 100 note that equals the exact same value. This gets rid of the problem of there being trillions of dinar in circulation, and also Gets rid of the problem of them not having a bill worth more than 21 USD, as a new 100 dinar note would be worth about 84 bucks, allowing them to handle large cash transactions much easier.

[jmw]

Why, thank you, Mr. Obvious. It's so nice to hear from Keep's fellow "traveler."

Now, can we get HopefulTxn and MrFnHappy to also do the predictable? Where's xyzzy?

you're right... they only put out smoke to Iraqi's so they won't know what is going on:lol::lol:

[MANNY99]

It appears that you have some kind of misunderstanding about what happens during an RD. An entirely new currency is printed, that has (in the case of a 3 zero "lop") 1000x the value of the old currency. You take your old currency and exchange it at the rate of 1000 to 1 for the new currency which, since its worth 1000x as much, is a value neutral event.

So you could exchange 4 old 25,000 notes for one new 100 note that equals the exact same value. This gets rid of the problem of there being trillions of dinar in circulation, and also Gets rid of the problem of them not having a bill worth more than 21 USD, as a new 100 dinar note would be worth about 84 bucks, allowing them to handle large cash transactions much easier.

And what happen if I have two 50 dinar notes?

Edited January 12, 2012 by MANNY99

[Wheeler]

And what happen if I have two 50 dinar notes?

You get two 50 fil notes, or one 100 fil note.

Edited January 12, 2012 by Wheeler

[zigmeister]

you're right... they only put out smoke to Iraqi's so they won't know what is going on:lol::lol:

I don't know but you holds no dinar and sold it to someone, who does not know any better. Legolas is waiting for you in the Lobster Lounge.

[Carrello]

Why, thank you, Mr. Obvious. It's so nice to hear from Keep's fellow "traveler."

Now, can we get HopefulTxn and MrFnHappy to also do the predictable? Where's xyzzy?

Check out what a couple of these clowns (sorry Thug) are trying to do to Scooter over in Chats, Interview with Scooter, very last pages.

[markchem]

Every time anymore I hear the terms raising or deleting the three zeroes I associate these with ipecac syrup. Both items make me want to puke.

[TQueezy]

Wednesday January 11, 2012 15:51 GMT

Raising the three zeroes from the Iraqi currency and change another new focus of the symposium was hosted by the Faculty of Business Economics at the University of Baghdad, Mesopotamia .. Deputy Governor of the Central Bank explained during the seminar that the deletion of zeros is the most important steps of economic reform in the country stating that he would rid the banking institutions of the problem, stressing the many zeros to maintain the purchasing power of the Iraqi dinar was originally covered the world.

D. The appearance of Mohammed Saleh / Deputy Governor of the Central Bank of Iraq

This reform has the level of horizontal and vertical level .. Horizontal level is the deletion of three zeros .. Means a thousand dinars dinars become one, but to maintain the purchasing power .. This saves us from the problem of multiplication of numbers Ahna today accounts Waco larger numbers annoying

Central Bank assured the Iraqi citizens that the new change will not affect the entry of citizens or their wealth or contractual obligations to them.

Interestingly only stating it will not affect citizens, by which I assume he means Iraqi citizens.

D. The appearance of Mohammed Saleh / Deputy Governor of the Central Bank of Iraq

Waco, one thing is necessary to insure the public that PINS does not change the income of the citizen and does not change the wealth of the citizen does not change the contracts and contractual obligations of the citizen

Value neutral yes, only a change in appearance of the fleet of denominations of hard currency (i.e. physical cash) and not what it truly is. How I think this works is simple... they need to reduce the money supply, so if a dinar is worth 1 dinar, and a 25,000 dinar note is worth 25,000 dinar, they need to get it out of circulation, but they need to replace it with something of lower denomination numbers, such as a 25 dinar note, but the value would be the same, so they have to change the exchange rate. Simple enough... there's no change of the wealth from that note to the new one, there's still just as much dinar accounted for, right? No. 25,000 dinar was removed from circulation based on the NEW exchange rate that gets implemented. So it's a loss of potential change in value, not actual change in value. Only value neutral to those on the opposite end of the exchange. See? If it had stayed, it would be worth it's face value of 25,000 dinar, not 25 dinar. But... you would say, "Isn't that screwing over the people of potential wealth increase?" Yes. It is. Do they care? No. They are keeping their wealth/economy balanced and the same to prevent economic crisis from occurring. Go ahead. Prove me wrong, with factual information, not based on previous re-denominations, because those are different from Iraq's situation, by far.

It is the most important will achieve the process of lifting the zeros of the Iraqi dinar - according to some - is the cancel (dollarization) the large amounts of banking transactions in addition to change the currency in the currency of a new consensus high technology to print the currency world, printing new categories of large Iraqi currency reduces the number of papers printed traded now in the market and aimed collectively to eliminate inflation, which controls the Iraqi market for decades.

Doing this process, mentioned above, will lead to de-dollarization, which is what they want for their economy. The next confusing part is jumbled because of the translator, but I think it means that "change the currency in the currency(...)" means to change the denominations, but not to introduce an entirely new currency (which would require a separate code, i.e. IQD to NID, or whatever). I think they'll be keeping the same "currency" insofar as what it is called, but just giving it a refresher, and a bump in value/exchange rate against developed countries. Printing new categories of large Iraqi currency may sound like creating new 50,000 dinar and 100,000 dinar notes, but it's not. Once they up their exchange rate/value of their currency by 1000%, they can use currency without three zeroes printed on the face value numbers, so would be using 1, 5, 10, 25, 50, and 100. The value is still the same, except they have introduced new currency denominations, and the wealth that was lost in the exchange was only potential wealth, not actual wealth. I think that people holding the currency outside of Iraq will get the new exchange rate for the face value of the old bills. In the instance of a 1:1 exchange rate, we would get 25,000 USD for a 25,000 dinar bill. Plain and simple.

http://translate.google.com/translate?hl=en&langpair=ar|en&u=http://www.alsumaria.tv/ar/Iraq-News/1-72635-.html

[Wheeler]

So they're going to make foreign currency speculators into millionaires, while keeping their own people in the poorhouse?

No, they're not. Why would they do this? It's far more likely that they would do the exact opposite.