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Central Bank To Begin Process Next September

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1 Central Bank To Begin Process Next September on Sat Feb 18, 2012 11:56 am

gemini5


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18/02/2012 17:48
The central bank announced earlier that he is considering the requirements of the project to delete the zeros of the local currency with the Council of Ministers in terms of need process for the enactment of the organized or not. A member of the Economic Commission Abdul-Hussein Abtan told the Kurdish news agency (Rn) that “the Economic Commission agreed with the Central Bank to begin the process of changing the local currency in September next.” He added that “the agreement granting process to ensure the currency switch for a full year that the two currencies are traded the old and new in the market during this stage.”
And describes the CBI process of switching the currency national project in support of the economy in the country, while expressing the Iraqi government for fear of the project as it will increase the phenomenon of money laundering, “according to belief,” and is working to convince the central bank to stop the implementation of the project, and be approved by the securities the government’s position of deletion of zeros and says it will affect negatively on the financial trading in the stock market. Abtan explained that “the process of removing the zeros from the currency will contribute to dealing with inflation and facilitate economic cooperation with international banks and reduce the differences of living in the community.”
The Committee emphasized the financial representative, on Sunday, the central bank tarry in the provision of a bill to delete the zeros from the currency to the Committee for the purpose of his study, saying that the law was passed would give Iraq an opportunity to address economic inflation, as experts predict a rise of inflation in the budget in 2012 because of the continuing interest in aspects of operational at the expense of the investment part of the general budget. And inflation is excessive in the general level of prices and rising incomes as well as higher cash costs and create excessive cash balances. He concluded his speech by saying Abtan that “the central bank looking to send a bill to change the currency to the House or not because the law gives the Central Bank of implied powers to delete the zeros of the local currency.”

The functions of the central bank conduct of monetary policy in the country, including exchange rate policies and the management of foreign reserves and the issuance of currency management, and raise the level of the values of the Iraqi dinar and deal with inflation in the country, which is responsible also for the maintenance of price stability, as well as to regulate the banking sector. bit.ly xzBgg1

I got this in the PD chat room..I could not find the article in there forums.I hope the link works

TheRock


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The central bank announced earlier that he is considering the requirements of the project to delete the zeros of the local currency with the Council of Ministers in terms of need process for the enactment of the organized or not. A member of the Economic Commission Abdul-Hussein Abtan told the Kurdish news agency (Rn) that “the Economic Commission agreed with the Central Bank to begin the process of changing the local currency in September next.” He added that “the agreement granting process to ensure the currency switch for a full year that the two currencies are traded the old and new in the market during this stage.”
And describes the CBI process of switching the currency national project in support of the economy in the country, while expressing the Iraqi government for fear of the project as it will increase the phenomenon of money laundering, “according to belief,” and is working to convince the central bank to stop the implementation of the project, and be approved by the securities the government’s position of deletion of zeros and says it will affect negatively on the financial trading in the stock market. Abtan explained that “the process of removing the zeros from the currency will contribute to dealing with inflation and facilitate economic cooperation with international banks and reduce the differences of living in the community.”
The Committee emphasized the financial representative, on Sunday, the central bank tarry in the provision of a bill to delete the zeros from the currency to the Committee for the purpose of his study, saying that the law was passed would give Iraq an opportunity to address economic inflation, as experts predict a rise of inflation in the budget in 2012 because of the continuing interest in aspects of operational at the expense of the investment part of the general budget. And inflation is excessive in the general level of prices and rising incomes as well as higher cash costs and create excessive cash balances. He concluded his speech by saying Abtan that “the central bank looking to send a bill to change the currency to the House or not because the law gives the Central Bank of implied powers to delete the zeros of the local currency.”

The functions of the central bank conduct of monetary policy in the country, including exchange rate policies and the management of foreign reserves and the issuance of currency management, and raise the level of the values of the Iraqi dinar and deal with inflation in the country, which is responsible also for the maintenance of price stability, as well as to regulate the banking sector. bit.ly xzBgg1



http://www.aknews.com/ar/aknews/2/290751/

http://translate.google.com/translate?act=url&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&twu=1&u=http://www.aknews.com/ar/aknews/2/290751/

Thanks gemini5, pretty much tells us when it will happen. Sure hope it happens before.

gemini5


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Thank You Rock!! I agree!! Thanks for finding the article !! Such a good guy Very Happy ...posting is definitely not my area of knowledge what so ever.... Very Happy

dogsnova

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We also need to see confirmation from the CBI (about the Sept date) and not just the Economic Commission IMO.. But yeah this is a great art.. Ty Smile

TheRock


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gemini5 wrote:Thank You Rock!! I agree!! Thanks for finding the article !! Such a good guy Very Happy ...posting is definitely not my area of knowledge what so ever.... Very Happy

Your welcome. Thank you for bringing it in. Now it looks like we finally have a time line and can move on away from all the speculation. September is so close.

parothead

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What a great article! Thanks Gemini!!!!!!

lightingcslt

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great find , hope its not true though, dont want to have to go another 7 months of this.dont get me wrong enjoy chatting with you all but i have other things on my agenda thats needs to be taken care of very soon. if it is another 7 months cant do anything about it been in this long not going anywhere. lol ltes hope the cbi does this before then dont care about any economic commision

8 YEA RIGHT on Sat Feb 18, 2012 3:54 pm

vaquero


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You kidding me,like they ARE GOING TO TELL US.well for sure we know it wont be Septemper,BUT BEFORE.... Very Happy

Palladium

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dogsnova wrote:We also need to see confirmation from the CBI (about the Sept date) and not just the Economic Commission IMO.. But yeah this is a great art.. Ty Smile

Dogsnova, I agree. This is a statement and opinion of the economic commission being in agreement with the CBI. We've heard nothing from the CBI about this.

We all better start praying hard. By September, the Middle East will be ripped apart by war, and Iranian tanks rolling through Iraq; on their way to Israel through Syria.

parothead

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Palladium wrote:
dogsnova wrote:We also need to see confirmation from the CBI (about the Sept date) and not just the Economic Commission IMO.. But yeah this is a great art.. Ty Smile

Dogsnova, I agree. This is a statement and opinion of the economic commission being in agreement with the CBI. We've heard nothing from the CBI about this.

We all better start praying hard. By September, the Middle East will be ripped apart by war, and Iranian tanks rolling through Iraq; on their way to Israel through Syria.


Bite your tongue!!!!! lol!

lightingcslt

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i been thinking about this all day today. was paranoid about this article. now, i feel better because there is no way they would be telling us when they are gonna do this. this tells me all, that this is going down very very soon. this is great news for us, please come out with more of them please. lol lol as smooth would say r/v soooon lol. you hear that therock i said it first not you lol lol

TheRock


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lightingcslt wrote:i been thinking about this all day today. was paranoid about this article. now, i feel better because there is no way they would be telling us when they are gonna do this. this tells me all, that this is going down very very soon. this is great news for us, please come out with more of them please. lol lol as smooth would say r/v soooon lol. you hear that therock i said it first not you lol lol


Actually I am very pleased with the art. and Sept. Nothing to be paranoid about. Fact is, art like this confirms many things. My thought is Sept. is way more logical because after the budget is passed, the infrastructure will be rebuilt really fast giving the currency much value. I have always thought that unless the budget is passed, jobs created, and work begins on the infrastructure there would not be a revaluation. I look at what Iraq has now and what they need to produce to make the currency valuable. Easy to say they have what they need now but reality is they have not produced enough, the budget has not passed, the infrastructure needs rebuilding, and many jobs need to be created. All these thing make a strong currency. A strong currency does not create these things rather a strong economy that produces creates a strong currency. Anyway that is my train of thought, from the economic side of things.

13 OLD NEWS FROM 2011 ????? on Sun Feb 19, 2012 4:24 am

darjohn


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COULD IT BE OLD NEWS FROM AUG. 2011 ????? MANY SITES ARE NOW SAYING THIS!!!jmt affraid affraid affraid

Praxis

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Don't know... Today we have multiple sources reprinting the same article and not to mention the source from the Economic Commission is legit and has been involved in several recent articles regarding housing and poverty.

In response to The Rock's comment, the only hitch is they have to remove the USD from the economy to make a true strong economy and they cant do that without increasing the value of the Dinar to be competitive.

TheRock


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Praxis wrote:Don't know... Today we have multiple sources reprinting the same article and not to mention the source from the Economic Commission is legit and has been involved in several recent articles regarding housing and poverty.

In response to The Rock's comment, the only hitch is they have to remove the USD from the economy to make a true strong economy and they cant do that without increasing the value of the Dinar to be competitive.


Yes you are correct, they need to remove a foreign currency for citizen use and make their own currency usable and valuable. In Sept. that will happen IMO.

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