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He already spoke. I gave you his exact words. A child could understand them.
Works for me
«Iraqi Central»: dinar to deal more acceptable levels to cover the dollar and other currencies have
الخبير الأول في البنك: إزالة الأصفار الثلاثة من العملة ستضفي الكثير من الرفاهية والاستقرار The first in the bank: the removal of three zeros from the currency will bring a lot of prosperity and stability
كشف الخبير الأول في البنك المركزي العراقي، مظهر محمد صالح عن أن البنك قرر وضمن خطة مستقبلية ستبدأ العام المقبل بتنفيذ مشروع إزالة ثلاثة أصفار من العملة العراقية، التي تعاني الآن تضخما وترهلا لا يمكن علاجه ألا من خلال هذا المشروع الذي سيضفي كثيرا من الرفاهية والاستقرار في توافر سيولة قوية وعالية ويسهّل المعاملات وينسجم مع مرحلة النمو والازدهار الاقتصادي المتفائل الذي سيشهده العراق في الشهور أو السنوات القادمة، مستدركا انه «مشروع طويل الأمد نسبيا سيدخل في الاقتصاد النقدي تدريجيا بحيث يضفي الكثير من الراحة والانسجام في الحالة الاقتصادية. Revealed the first in the Central Bank of Iraq, Muhammad Salih from the appearance that the bank decided within the future plan will begin next year, the execution of the removal of three zeros from the Iraqi currency, which is now experiencing inflation and Atrala can not be remedied only through this project, which will give a lot of prosperity and stability in the The availability of liquidity high and strong and facilitate transactions and in line with the stage of growth and economic prosperity optimistic that Iraq will happen in the coming months or years, but it «a long-term relatively cash in the economy will gradually give so much comfort and harmony in the economic situation.
وأكد صالح عزم البنك بتنفيذ مشروع حذف الأصفار الثلاثة من الدينار العراقي، بتحويل الألف دينار إلى دينار واحد، وستبدأ المرحلة الأولى من المشروع بعد فترة ليست بالقصيرة تزيد على العام، لان هذا الأمر يتطلب التأني والتخطيط قبل التنفيذ لأنه لو طبق مباشرة سيرهق المواطنين وقد يسبب مشاكل نقدية حتى في المعاملات بين الناس. The determination of the bank in favor of implementing a project to delete three zeros from the Iraqi dinar to convert thousand dinars to one dinar, will begin the first phase of the project after a period of not more than a year some time, because this requires careful planning before implementation, because, if applied directly overburden citizens may cause problems Even in the cash transactions between people. وعند بدء التطبيق سنراعي التدريج والتطبيق المرحلي وسوف لن ترى كما حدث في تبديل العملة أناسا تركض حاملة أموالها للمصارف لتبديلها بل ستكون أول خطوة الاستمرار بالتعامل بالعملتين الحالية والجديدة لحين استنفاد الحالية من السوق بشكل طبيعي وبدون أن يشعر المواطنون بذلك. When the start application will heed the grading and application progress will not see as in the people running the currency switch their carrier for banks to exchange the first step but would continue to deal in both existing and new until the exhaustion of the current market normally and without the citizens feel so.
وبين مظهر انه في عام 1980 كان الإصدار النقدي لا يتعدى 4 مليارات دينار عراقي، وكانت أعلى فئة في العملة العراقية هي فئة الـ25 دينارا، والتي كانت تعادل حين ذاك 75 دولارا أميركيا. And the appearance of that in 1980 the monetary issuance does not exceed 4 billion Iraqi dinars, with the highest category in the Iraqi currency is the category of 25 dinars, which were drawn, that while U.S. $ 75. في الوقت الحاضر والتضخم الذي حصل بسبب الحروب والصراعات والحصار جرت كتلة نقدية تقاس بالوقت الحاضر إصدارا نقديا تصل إلى (20) تريليون دينار عراقي، أما اكبر فئة نقدية فهي 25 ألف دينار والتي لا تساوي سوى 22 دولارا، وهنا يجب ملاحظة الفرق فالبلد في طريقه مستقبلا للاستقرار وتحقيق النمو. Currently, inflation, which was due to wars, conflicts and critical mass blockade was measured with the present monetary issuance of up to (20) trillion Iraqi dinars, while the largest cash is 25 thousand dinars, which is equal to only 22 dollars, and here it should be noted the difference in the way future country For the stability and growth.
وأضاف أن الاقتصاد العراقي مبني في تعاملاته على النظام النقدي الذي يسمى بالكاش أي التعاملات النقدية المباشرة بسبب ضعف الأنظمة والآليات المصرفية وظرف اوجد هذا النوع من التعاملات وتخوف المواطنين من التعامل مع البنوك وغيرها. He added that the Iraqi economy based on his dealings in the monetary system, called Balkash any direct cash transactions because of weak banking systems and mechanisms and the circumstances created this type of transactions and fears of citizens from dealing with banks and others. ونحتاج وقتا لتطبيع المواطنين على ذلك، مثل هذه التعاملات المباشرة ومثل هكذا إصدار نقدي جنوني يصل لـ(20) تريليون دينار خلقت حاجة للفئات الكبيرة وهذا سبب وجود طلب على الدولار لإتمام التعاملات الداخلية (الدولرة) رغم ارتفاع قيمة الدينار العراقي. We need time to normalize the citizens, such as these transactions such as direct and thus a hike up cash for (20) trillion dinars created a need for large groups and this is why the demand for the dollar to the completion of insider trading (dollarization), despite the high value of the Iraqi dinar.
وبين مظهر أن العراق سيتحول من 20 تريليون إلى 15 مليار دينار وهذا سينعكس إيجابا على الاقتصاد والتعاملات المصرفية واليومية والناس ستشهد راحة كبيرة، وأنا أراه أمرا غاية في الأهمية ومسألة حضارية، لا سيما ان اغلب البلدان مثل تركيا والبرازيل عالجت تضخم جامع لسنوات طويلة عبر هذه الآليات وعملت على استبدال العملة ورفع الأصفار ورفع قيمتها وتقليل حجمها من خلال خطة طويلة الأمد لتنفيذ المشروع. And the appearance that Iraq will shift from 20 trillion to 15 billion dinars and this would have positive effects on the economy and banking and daily and people will see great comfort, and I see it is very important and the issue of civilization, especially that most countries such as Turkey and Brazil dealt with the whole inflation for many years through such mechanisms And worked to replace the currency and raise the zeros and raise the value and size reduction through long-term plan for the implementation of the project.
وتحسبا لأية إرباكات أو تذبذبات قد تحدث في سوق التداول أو في التعاملات النقدية، وهنا يجب اعتماد تدابير وخطوات دقيقة من شأنها حلّ كل الإشكالات القائمة في التداولات المرتبكة نتيجة ضخامة الكتلة النقدية في السوق العراقية. In anticipation of any disruption or fluctuations may occur in the secondary market transactions or in cash, we should adopt measures and steps minutes would solve all the problems in the trading bloc committed a result of enormity of cash on the Iraqi market.
وأوضح مظهر أن العراق عانى من التضخم الجامح خلال العقدين الماضيين مما انعكس بشكل تضخم نقدي هائل، حيث ارتفع الإصدار النقدي من حوالي 25 مليار دينار في مطلع التسعينات، ليصبح في عام 2003 ستة آلاف مليار، وإذا أضفنا التغيّرات الهيكلية الكبيرة على حجم الموازنة التي هي مصدر التوسع في الكتلة النقدية، نستطيع القول إن البلاد لا تتحمل في تداولاتها النقدية هكذا حجم هائل بوحدات العملة النقدية، وهي من مخلفات مرحلة التضخم الجامح. The appearance that Iraq has suffered from hyperinflation in the past two decades, which was reflected in hyperinflation, rising monetary issuance of approximately 25 billion dinars in the early nineties, as in 2003 six thousand billion, and if we add significant structural changes on the size of the budget that is the source of Expansion of the monetary mass, we can say that the country does not have the discussions thus a large amount of cash currency units, a legacy of a hyper-inflation. ونوه إلى أن الخفض الجديد في العملة سيضفي كثيرا من الرفاهية والاستقرار في توافر سيولة قوية وعالية ويسهّل المعاملات وينسجم مع مرحلة النمو والازدهار الاقتصادي المتفائل الذي سيشهده العراق في الشهور أو السنوات القادمة. He noted that the reduction in the new currency will give a lot of prosperity and stability in the availability of liquidity high and strong and facilitate transactions in line with the stage of development and economic prosperity optimistic that Iraq will happen in the months or years to come.
He stated they would return to the old rate. He also stated SUPPLY was very important. Anyone with a smidge of common sense can put those two together and see that to return the rate they also hae to return the SUPPLY. A 3 zero lop does that perfecty.
Just like the CBI advisor has said in dozens of articles on many many middle east web sites in he last few weeks, without one single response from Shabs. Why... cause Shabs agrees.
Not sure I posted this one, there have been so many.
http://translate.google.com/translate?hl=en&langpair=ar%7Cen&u=http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D6975
"And the appearance that Iraq will shift from 20 trillion to 15 billion dinars"
What he is saying fits perfectly with Shabs statement.
Stockings, that is good stuff, but it is irrelevant of the lop. They will lop and then continue to strengthen the rate.
Intead of moving 1 dinar t a time, it will move .001 dinar at a time.
Lops are done to remove the effects of inflation.
http://search.export.gov/search?q=ca...ntend&oe=UTF-8
During the 1990s, a period of hyperinflation occurred. The government continued to print money to meet expenditures while economic sanctions shut off the supply of imported goods leading to a classical monetary overhang. A yearly inflation rate of upwards of 2,000% per cent was reported in open market food prices between 1990-1991.36 Another source estimated that inflation increased 5,000% between 1990and 1995.
That inflation still effects the Dinar, it is evident by the large denominiations they use. They will lop to remove the effects of that inflation.
Shabs has said they would lop.
I pointed this out in June.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30358640
Dr. Sinan Alshabibi Governor of the Central Bank.
10 April 2008
http://dinariraqmurah.blogspot.com/2008/04/stability-of-exchange-rate-of-dinar.html
"we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar and other foreign currencies and we are endeavouring and serious in this regard, but added that this process is not easy and simple and depends on the supply and demand of Iraqi dinars."
Supply is the same exact thing as M2/money supply. Money supply must be greatly adjusted to return to the seventies eighties rate. How do you greatly adjust money supply. Lop.
Ah yes... can count on you to jump on the ship named absurd.
It is ridiculous of you to label this as BS unless it comes from Shabs. This has now been stated in about a dozen articles in the last two to three weeks. If this was not true Shabs would be out denying it.
Just because you are determined to sink with the ship, fine... but don't try to drag others down with you.
Here is a new artilce about it today.
http://www.iraqdirectory.com/DisplayNews.aspx?id=6987
It can not get any clearer than this.... this is 100% sure, a lop.
"Salih stressed on the Bank determination in favor of implementing the project of deleting three zeros from the Iraqi dinar, to convert a thousand dinars to one dinar..."
"first step would be to continue to deal in both existing and new currency"
"Modhir said that Iraq will convert from 20 trillion to 15 billion dinars and this would have positive effects on the daily economy and banking"
"Smuggled" is a term they have used a number of times to describe the currency that has left the country.
The Central Back of Iraq stresses on zeros lopping
http://www.investorsiraq.com/showthread.php?t=96822
The "trend is the deletion of three zeroes, instead of dealing with monetary issuance of $ 18 trillion dinars
Iran has been talking about lopping for two years now. They just now made it official. Iraq is following the exact same pattern.
You can claim these articles are smokescreens if you’d like. That’s what all the big reval hopefuls are saying. But to claim these articles are not even talking about a lop puts you in a very small minority.
Frankly… if you truly believe that I feel sorry for you. Your severely low reading comprehension level would make it hard to function day to day. I’m guessing you find yourself being taken advantage of a lot. Unless the truth is you don’t believe what you are saying, then that means you are trying to take advantage of others. Neither scenario looks good for you.
Another article for you… http://translate.google.com/translate?hl=en&langpair=ar%7Cen&u=http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D6975
Revealed the first in the Central Bank of Iraq, Muhammad Salih from the appearance that the bank decided within the future plan will begin next year
With all the lop articles out lately I'd be very concerned about holding dinars. I've never researched Warka so I'm a bit reluctant to say I'd do that, but under the circumstances and if you really want to stay in the dinar, I'd be looking for some bank over there to get them into.
LOL... How do you "spew" an article?
Ali has an account here, he has posted in the past and can post anytime he wants.
Ask Ali how it was that a currency dealer selling dinar didn't know the difference between an old 1 dinar note and a new one?
So who to believe? This CBI advisor who was quoted a couple months ago saying they would lop, and is now reconfirming it. There also was the other CBI advisor that said there would be a lop about 2 weeks ago. Let's not forget the Minister of Finance who has been talking about lopping for two years now. So do you believe them... or do you believe a known lying (remember the 1 dinar note) dinar dealer who admits to selling 1 billion dinar a month. That admission in itself should send you running for the hills. Here's one dealer, one of the many many dinar dealers, admitting he alone sells a billion a month.
Old article... lol... yeah.
That's why these sites have now picked it up.
http://translate.google.com/translate?hl=en&sl=ar&u=http://www.yaqen.net/index.php%3Fp%3D11398&sa=X&oi=translate&resnum=1&ct=result&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2583%2B%25D8%25A7%25D9%2584%25D9%2585%25D8%25B1%25D9%2583%25D8%25B2%25D9%258A%2B%25D9%258A%25D8%25A4%25D9%2583%25D8%25AF%2B%25D8%25B9%25D8%25B2%25D9%2585%25D9%2587%2B%25D8%25B9%25D9%2584%25D9%2589%2B%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D9%2585%25D9%2586%2B%25D8%25A7%25D9%2584%25D8%25B9%25D9%2585%25D9%2584%25D8%25A9%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%25D8%25A9%26hl%3Den%26sa%3DG%26pwst%3D1
http://translate.google.com/translate?hl=en&sl=ar&u=http://www.alhurriatv.com/print.php%3Fpage%3D/news/6912/&sa=X&oi=translate&resnum=2&ct=result&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2583%2B%25D8%25A7%25D9%2584%25D9%2585%25D8%25B1%25D9%2583%25D8%25B2%25D9%258A%2B%25D9%258A%25D8%25A4%25D9%2583%25D8%25AF%2B%25D8%25B9%25D8%25B2%25D9%2585%25D9%2587%2B%25D8%25B9%25D9%2584%25D9%2589%2B%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D9%2585%25D9%2586%2B%25D8%25A7%25D9%2584%25D8%25B9%25D9%2585%25D9%2584%25D8%25A9%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%25D8%25A9%26hl%3Den%26sa%3DG%26pwst%3D1
http://translate.google.com/translate?hl=en&sl=ar&u=http://www.iraqdirectory.com/DisplayNewsAr.aspx%3Fid%3D6957&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2583%2B%25D8%25A7%25D9%2584%25D9%2585%25D8%25B1%25D9%2583%25D8%25B2%25D9%258A%2B%25D9%258A%25D8%25A4%25D9%2583%25D8%25AF%2B%25D8%25B9%25D8%25B2%25D9%2585%25D9%2587%2B%25D8%25B9%25D9%2584%25D9%2589%2B%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D9%2585%25D9%2586%2B%25D8%25A7%25D9%2584%25D8%25B9%25D9%2585%25D9%2584%25D8%25A9%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%25D8%25A9%26hl%3Den%26sa%3DG%26pwst%3D1
Has Ali posted the pic of that 1 dinar note yet? LOL
Can't pull one over on you can they... when everyone else is exchanging their currency you will be laughing all the way to the bank right?
Central Bank confirms Lop
http://translate.google.com/translate?u=www.aswataliraq.info&langpair=ar%7Cen&hl=en&ie=UTF-8&oe=UTF-8&prev=%2Flanguage_tools
Central Bank confirms its intention to delete the zeros of the Iraqi currency
BAGHDAD - Iraq votes 09-24-2008 at 23:54:53
The Central Bank of Iraq adviser, on Wednesday, the bank's determination to proceed with the project to delete the zeros of the Iraqi dinar to convert thousand dinars to one dinar, referring to the adoption of long-term plan for the project, which would be reluctant to cash the huge bloc in Iraq.
The appearance of Dr. Mohammad Saleh in an interview with the Independent News Agency (Voices of Iraq) "The Bank will, in any case, long-term plan for the implementation of the project, in order to avoid any disruption reflected in the cash arena, which will move based on studies and slow and accurate resolution of all Problems in the trading bloc committed a result of enormity of cash bulging in the Iraqi market. "
The factors of this action, which he described as very important by saying that "Iraq is one of the countries hit by hyper-inflation in more than two decades ago, reflected in hyperinflation, for example, increased monetary issuance of approximately 25 billion dinars in the early nineties, as in 2003 Six thousand billion. "
He added, "If we add significant structural changes on the size of the budget that is the source of monetary expansion in the bloc, we can say that the country does not have the discussions thus a large amount of cash currency units, a legacy of a hyper-inflation."
And that "many countries of the world suffered from this problem and turned their economies towards relative stability, it must find a solution to curb the enormous mass of cash to facilitate exchange of cash in Iraqi society, which mainly deal Tdaullach cash now rather than the use of means of payment, advanced banking."
He added, "This means we need urgently to the availability of substantial monetary value categories of small-scale return to any sense of the payments system easy to use and lead to facilitate transactions."
He cites the example of the saying that in the category in 1980 was equivalent to 25 dinars then more than $ 75, the largest category of cash at the time, while in the highest category at present is the key category of 25 thousand dinars, and equals only $ 23. "
The "to note the difference .. that Iraq needs to be large groups in value - as we have a small size to facilitate the exchange and perform the functions of the various money."
The interest of clarifying the problems impeding the performance of existing cash, saying: "The problems of one of the" dollarisation "the Iraqi economy, the demand for dollars category per cent to facilitate large transactions paid in cash, which represents about 120 foreign currency thousand dinars, which means that the actual Iraqi economy needs to Category or categories of him cash to facilitate the exchange value of cash, especially in large deals. "
And on the extent of the Bank's approach to the deletion of zeros, the central bank advisor said "it is intended and studies in this regard that any groups are circulating a new progressive and comfortable and not limited to the replacement."
He noted that "this will give a lot of prosperity and stability in the availability of liquidity high and strong and facilitate transactions in line with the stage of growth and economic prosperity optimistic that Iraq will happen in the months or years to come." Available, that "relatively long-term project would be included in the cash economy to gradually add a lot of comfort and harmony in the economic situation."
The "trend is the deletion of three zeroes, instead of cash from the deal even though monetary issuance of $ 18 trillion dinars deal even though the economy of not more than 15 billion dinars, a mass of different categories of comfortable Bsal criticism, circulation and encourages banks to accept cash deposits."
"We know for example that one of the biggest problems at the present time the problem of counting and counting and verification of counterfeit currency or the offense, and this burden to the banking system, the burden on the citizen as well."
The consultant concluded the central bank to say that "low cost counting and counting and other leads to a decline in inflation by an estimated rate of 3%, resulting from the cost of cash transactions of large deals, have citizen in Basra for example, to transfer funds to Iraq through cash into the category of the dollar, Potential burdens and costs and commissions arising from the conversion process. It cost added to the transaction prices inevitably.
The success in bringing down inflation has allowed us to slow down the pace of appreciation of the dinar from roughly ½ percent per month in the second half of 2007 toabout ¼ percent per month in the period January–June 2008. Since November 2006 the dinar has appreciated by 18¾ percent vis-à-vis the U.S. dollar, to ID 1,195 per dollar at end- June 2008. Net international reserves continued to grow and reached a level of $38.3 billion at end-April. The Central Bank of Iraq (CBI) also reduced its policy interest rate in three steps from 20 percent at end-2007 to 16 percent as of July 1, 2008.
Monetary and Exchange Rate Policy
http://www.imf.org/external/pubs/ft/scr/2008/cr08303.pdf
20. The CBI recognizes that the planned fiscal expansion poses a challenge to keep inflation under control and requires a tightening of its policy stance (SMEFP, ¶17). The upcoming wage increase and the government’s efforts to increase investment spending will intensify price pressures, despite the high import content of both consumption and investment spending. In response, the CBI will increase the pace of appreciation of the dinar to ½ percent per month during the second half of 2008. This would be consistent with a more appreciated equilibrium real exchange rate than was expected at the time the program was approved, as a result of the continued improvement in Iraq’s terms of trade since end-2007 and the expansion of domestic demand. The CBI also agreed to keep the policy interest rate positive in real terms to signal its commitment to fight inflation.
Lots of other good FACTS.
I posted this on March 7, 2007
I have always maintaned that slow grow is possible. My position is that a huge reval is impossible.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=17683371
Depends on what your expectations are.
If you take the time to do the DD and compare Iraq to other countries… Kuwait, Saudi Arabia, Bahrain, Jordan, Iran, and others… look at Foreign Currency Reserves, GDP, Money Supply (Currency in circulation and in deposits) and it will become crystal clear that the Iraqi dinar is very fairly valued at what it is today. Iraq has 20 Trillion as a Money Supply figure. The countries that have an exchange rate of 1:1 or there about all have a Money Supply between 10 to 30 Billion. Iraq has a money supply 1000 times greater than those countries and it explains so clearly why they have an exchange rate about 1000 times higher.
In my opinion… based on comparing Iraq to numerous other countries… here are the possible outcomes I see.
They continue on like they are… the dinar may… MAY rise in value to 1000:1 over the next 3 or 4 years and they may join the GCC and switch to the GCC currency if that ever comes to fruition. 1000:1 is about as high as I see it going.
The other option they have… if they really want their currency valued at 1:1… they have to return the money supply number back to about 20 Billion. That would put them in line with the other countries that have a 1:1 or better exchange rate and would also return them to the money supply number they had in the 80’s when they had a favorable exchange rate. That would be the dreaded zero lop… where your 25,000 dinar notes would be exchanged for 25 dinar notes.
The truth is my agenda. You and others are free to ignore it.
LOL... Bad reporting? There's been numerous reports, doubt they are all wrong. But I guess that's a better theory than the MOF, 2 senior CBI advisors, and the Gov of the CBI all working for dinar dealers.
Proven...
"I think the lop talk is perpetrated by dealers looking to scare folks into selling their dinar so that they may resupply as ultra cheap"
That's head burried deep.
I have never said when they would lop, just that they will lop. The MOF has called for it for two years now. Recently 2 CBI advisors said they will lop, now it appears the CBI governor is saying they will lop. He is saying the IMF and World Bank back the plan. How much more proof do you need? And how much more correct could I have possibly been?
This thing is unfolding exactly how I predicted. How is my track record wrong?
It's lopster bs... put your head back in the sand and it will just go away. Your magical rv is right around the corner.
CBI GOV... Posted on another board
Link no longer works, worked last night, but now a blank page
MENAFN - (Qatar News Agency) Central Banks Governor announced today it has accepted a decision to raise zeros from the Iraq dinar and increase the value of the Iraqi dinar. claiming "We must bring prosperity to the citizens of Iraq as she has suffered a great loss faced the rest of the economic world". we now have control of a strong task of reigning in high inflation while increasing the value of the past 18 months as much as 20%.
We are at the early stages for the world to see us as a strong soverign nation able to stand with our neighbors. to show the world tyranny dictatorship is behind her, Iraq will begin a currency exchange program as suggested by the World Bank and the International Monetary Fund which was studied for great time and has accepted her decision. Iraq has put the days of inflation to end and will make her nation stand atop of the arab world we show our people that past policy regimes no longer exist in Iraq and to build a powerful nation .
http://www.baghdadtimes.net/Arabic/index.php?sid=34095
BC - Qatari News Agency (central bank Governor announced today that it has accepted the decision to lift the zeroes from Iraq dinar and increasing the value of Iraqi dinar. Alleges "We must bring prosperity to the citizens of Iraq, and said she had suffered a great loss to face the rest of the world economic." We now control the forces Important in the prevailing high inflation while increasing the value of the past 18 months by 20%.
We in the early stages of the world sees us as a sovereign nation able to stand strong with our neighbours. To prove to the world of despotism and tyranny is left, Iraq would begin exchange program as proposed by the World Bank and International Monetary Fund, which was great lesson of time and accepted his decision. Iraq has a few days to put an end to inflation and make her stand on the summit of the Arab world and to show our people that political systems in the past no longer exist in Iraq, and to build a nation
If... no... when they lop, they will issue a new currency. You will have to exchange to get the currency. How do you plan on doing that? Once the lop becomes official the dealer buy back rates will probably drop to about $500 per million. Ebay sales will all but dry up. They should dry up 100%, but there will be IDIOTS who will read the official announcment of a lop and think it's a good thing and buy the currency.
Honestly... best of luck to you and anyone else holding dinars.
Maybe they do a sudden jump to 1000:1 before or as they lop and they make it easy to exchange, you will see that gain. But I don't see it unfolding like that. I see a lop and I see them making it very difficult to get dinars back into Iraq.
DISCOURAGE SPECULATORS??????????
Almost 5 full years now, "buy dinar" in a search engine returns 30,000 hits. Every day for about 4 years 100 or more dinar ads on Ebay. Reports of buying frenzies all over the world. If anyone does sell, it simply just moves from one speculator to another. Iraq has done absolutly nothing to DISCOURAGE SPECULATORS. The lop is on the way. Either deal with it, or it will deal with you.
Strong, I think it's only one article because as stated in the article, it was an exclusive interview.
Lops don't draw a lot of press coverage because they are not really that big of a deal.
This is not an official announcement by the CBI, it's pretty close, but I would think when the CBI makes the official announcement you will see a few stories about it. Nothing big though. From the sounds of this latest article it definitely sounds like they have made the descision, they just haven't worked out the time frame and all the details. The CBI will probably not announce until those details are worked out.
Get real Punto, it's not old news. The old Nov article was an interview with the MOF. He stated he was proposing the lop again and the CBI would take it up for consideration in the next 3 months.
Now here we are later.
New article. This one is an interview with the CBI Advisor. Note, totally different person. This article is the CBI advisor saying that they have taken up the decision (the one discussed in the Nov article) and they are now in agreement with the MOF. The author, for clarity, throws in some references to the old article. Not really that unusual.
The articles are very much related, they are a continuation, and while it may rehash some of what was in the Nov article, this article is without a doubt new.
Done deal... lop announced.
http://www.zawya.com/Story.cfm/sidZW...D00D0B74A0D7C/
The Central Bank of Iraq Central Bank of Iraq Central Bank of IraqCBI Iraq | Financial Services News | Profile | Officers » Research
has taken steps to rebase the Iraqi dinar and issue new banknotes, a senior official at the bank said Tuesday.
"We have reached a conclusion that we should take off three zeroes from the current Iraqi dinar banknotes," Mudher Qasim, the bank's senior advisor, told Dow Jones Newswires in an exclusive interview.
"The process is progressing and we have taken some steps," Qasim said. "We will issue a decision in due time."
Qasim didn't give a timeframe when that decision would be taken, but said printing new banknotes and fully replacing old notes would take two years from the time the decision is taken.
Iraqi Finance Minister Bayan Jabor said his ministry had suggested to the central bank to take off three zeroes from the current Iraqi dinar banknotes. "The Central Bank Governor (Sinan Al-Shabibi) has informed me that the bank is in the process of taking that decision," Jabor told the state-run al-Iraqia Satellite Channel Monday.
"The Central Bank of Iraq Central Bank of Iraq Central Bank of IraqCBI Iraq | Financial Services News | Profile | Officers » Research
supports what the finance minister was saying," Qasim said.
If the rebase decision is taken, it means a current 25,000 Iraqi dinar banknote will become IQD25, for example.
Tuesday, the Iraqi dinar traded at IQD1,200 against the dollar, according to a trader in Baghdad. When three zeroes are knocked off the Iraqi dinar, a dollar will equal only 1.20 dinars.
Currency rebasings are usually monetarily neutral and are introduced to make commercial calculations and cash dealing easier and cheaper. Turkey knocked six zeroes off its lira currency Jan 1, 2005, for example. Russia did the same for its currency.
"In a country like Iraq where cash consists 80% of money dealing, we need smaller bank notes," Qasim said, adding that current Iraqi banknotes were difficult to store and need strict security measures when moving money from one place to another.
There are now some 20 trillion Iraqi dinar banknotes in use in the market, which is a very big amount and if Iraq knocked 3 zeroes it would become IQD20 billion which is a reasonable amount, he said.
Qasim also said one of the reasons for rebasing the Iraqi dinar is because the bank has managed to reduce the country's high rates of inflation. The inflation rate fell to 14.7% in May this year from a record high of 60% in late 2006.
In July 2004, the now dissolved U.S. civilian authority in Iraq decided to print the current Iraqi banknotes replacing those used to bear the picture of the former Iraqi leader Saddam Hussein. Iraqis then had three months to swap their old dinars with the new ones.
"This time we aren't in hurry, if it takes two years to swap the new currency with the old one, then let it so," Qasim said.
The current banknotes were printed by Britain's De La Rue Plc (DLAR.L), the world's biggest commercial printer of bank notes.
Jabor said in November last year that the central bank would rebase the dinar in early 2008.
-By Hassan Hafidh; Dow Jones Newswires; + 962 799 831 831; hassan.hafidh@dowjones.com
(END) Dow Jones Newswires
19-08-08 0720GMT
Iraq reports their financial numbers. It's very easy to see where they are on the charts.
Example... if Iraq was to RV at 1:1 as some expect... they would have a number over 26 trillion on that first chart. That would be twice as tall as the EU countries or the US.
On the 3rd chart down... M0
Iraq would have a bar that goes up to 15 trillion, that's 15 times higher than the EU nations and about 18 times more than the US.
With practically no economy... does that seem realistic at all??
There are nuts on IFF that have been pumping a $5.75:1 rv all weekend. How hilarious is that?
That would give Iraq a number of 150 trillion on the first bar chart, and 86 trillion on the M0 bar chart... lolol... speechless... and people are falling for it.
Global Money Supply (2008 Update)
Good info.
http://news.goldseek.com/GoldSeek/1216063238.php
Nut is a perfect world for anyone that would believe that rumor
Here's a rumor.
http://iraqimillionaire.blogspot.com/2008/07/central-bank-of-iraq-cbi-getting-ready.html
Central Bank of Iraq CBI Getting Ready for SOMETHING BIG!!!
According to a phone call earlier today from a friend of mine who is stationed in Iraq:
"Huge things are set to happen very soon here. We have seen the Iraqi people struggling to get out of poverty, and make comfortable lives for themselves. The government here is trying its hardest to help increase and stabilize the economy. Do you still have the 2.5 mil NID that I sent to you? I said "yes". He continues to say that the NID will be increasing very soon to and I should be planning on cashing in. He also noted that there will be a period, about 3 months, before transitioning over to a more "effective" currency. He goes on to tell me much more of the living conditions, and all the contractors working on the rebuild of Iraq.
To me this sounds like very good news. I hope that it is true.
M
---------------
Well, the first bolded part sounds good. You know what the second part sounds like to me.
Why on earth would Iran lop zeros? They are one of the top oil producing countries in the world coupled with some of the largest know reserves.
That's crazy lop talk.
Hey Pinhead ;) check out the last couple sentences of the post I wrote 2 weeks ago. I called it perfectly.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30826515