In Memory of Bondlady

WELCOME TO BONDLADYS CORNER...WE CARRY ON HER CUSTOM OF MAKING THIS SITE YOUR 24 HOUR A DAY IRAQ NEWS ARTICLE SOURCE


You are not connected. Please login or register

Economic parliamentary: the new year will witness the birth of the new Iraqi currency

View previous topic View next topic Go down  Message [Page 1 of 1]

player46


MEMBER
MEMBER
Economic parliamentary: the new year will witness the birth of the new Iraqi currency
SUNDAY, 02 JANUARY 1 / DECEMBER 2012 09:45
User Rating: / 1
Weak Good
Twilight News / excluded for economic and investment commission parliamentary, Sunday, that the new year would witness the birth of the new Iraqi currency deleted three zeros, noting that the Central Bank of Iraq was aspires to equal the value of one dinar per dollar.

He said the Commission's decision Mahma Khalil in an interview with "Twilight News" that "the new year will witness the restructuring Iraqi currency deleting three zeros, and therefore would not be witnessing the birth of new Iraqi currency because of the government's refusal to this project," noting that "the government believes that this work is not of its priorities. "

Khalil added that "the economic and investment commission strongly supported this project with the Governor of the Central Bank because the purpose of it purely economic and is to maintain the Iraqi currency from counterfeiting, damage and fraud."

Khalil pointed out that "there was countries with successful experiences in this area and the re-structure of its currency and deleted some zeros, and we seek to follow suit."

Khalil said he was "under Article 46 of the Law on the Central Bank of his powers to issue new currency or new categories and maintain the value of the Iraqi dinar against other currencies."

Khalil continued that "the very bank of the move is that the par value of the Iraqi dinar per one U.S. dollar after the deletion of zeros and are blocking the way of fake currency dealers, as well as the new currency was non-perishable easily."

Referred to the Central Bank of Iraq began Consideration of an amendment dinar categories last year, and is still a big part of the payments being in cash due to the evolution of the banking system.

The Cabinet had decided, in mid-April last year, wait in the application of the deletion of zeros from the national currency.

And revealed the Finance Committee in the House of Representatives, last July, the postponement of the deletion of zeros from the Iraqi currency, which the central bank intends to initiate them into the year 2014.


http://translate.google.com/translate?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.shafaaq.com/sh2/news/economy-news/49100-%25D8%25A7%25D9%2584%25D8%25A7%25D9%2582%25D8%25AA%25D8%25B5%25D8%25A7%25D8%25AF%25D9%258A%25D8%25A9-%25D8%25A7%25D9%2584%25D9%2586%25D9%258A%25D8%25A7%25D8%25A8%25D9%258A%25D8%25A9-%25D8%25A7%25D9%2584%25D8%25B9%25D8%25A7%25D9%2585-%25D8%25A7%25D9%2584%25D8%25AC%25D8%25AF%25D9%258A%25D8%25AF-%25D9%2584%25D9%2586-%25D9%258A%25D8%25B4%25D9%2587%25D8%25AF-%25D9%2588%25D9%2584%25D8%25A7%25D8%25AF%25D8%25A9-%25D8%25A7%25D9%2584%25D8%25B9%25D9%2585%25D9%2584%25D8%25A9-%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%25D8%25A9-%25D8%25A7%25D9%2584%25D8%25AC%25D8%25AF%25D9%258A%25D8%25AF%25D8%25A9.html

Shredd

avatar
CO-ADMINISTRATOR
CO-ADMINISTRATOR
It's been so easy I think for us to become desensitized to all of the confusion, frustration and misinformation..........but when you continue to see articles like this, it should be very exciting. If I can quote Bondlady correctly, she has said something like: treat one article as rumor, two articles (saying the same thing) as a possibility, and three or more articles (again, saying the same thing) as probable truth. Remember when we first heard news of Shabibi getting replaced? We treated that process the same, but after seeing the same news from multiple sources, we knew it to be true.

That all said, guys.....if we can trust what this article is saying, we should be jumping for joy! The new budget, the new year will not have the zeros. What does that mean? The new currency being released.....which by itself would be a very costly activity for absolutely no purpose, unless......unless.....there is a new rate. Now, in my very humble opinion, if we see the new currency released into circulation as being the first action, we would have to see what this article is saying for a rate....equal one dinar to the dollar. Again, if it would free float and slowly crawl, the new dinar in circulation would not be useful because an iraqi would need three times as much in quantity of dinar to complete any transaction. A part of me has always held onto a revalue compared to the free float idea and I believe Maliki is pushing forward for this.....to remove his country from needing the dollar, to stand independent and sovereign with their pride in a new currency.

Hold on baby, we're comin' home!


_________________
"Do not wear yourself out to get rich" - Proverbs 23:4

Fast Eddie


MEMBER
MEMBER

And revealed the Finance Committee in the House of Representatives, last July, the postponement of the deletion of zeros from the Iraqi currency, which the central bank intends to initiate them into the year 2014.


Shredd this last part where it say 2014 is what shows me we could be waiting another year. As you say we go by what we see the same in articles than 2014 has popped up more & more in articles. I hope I am wrong but if they where to float it from 1166 up & it could take a year on a float to see 1-1 than that might be what they are saying is no remove to 2014 when they hit 1-1. just another way of looking at the same article.

Shredd

avatar
CO-ADMINISTRATOR
CO-ADMINISTRATOR
Fast Eddie wrote:

And revealed the Finance Committee in the House of Representatives, last July, the postponement of the deletion of zeros from the Iraqi currency, which the central bank intends to initiate them into the year 2014.


Shredd this last part where it say 2014 is what shows me we could be waiting another year. As you say we go by what we see the same in articles than 2014 has popped up more & more in articles. I hope I am wrong but if they where to float it from 1166 up & it could take a year on a float to see 1-1 than that might be what they are saying is no remove to 2014 when they hit 1-1. just another way of looking at the same article.

"...the central bank intends to initiate them into the year 2014." I hear you but the phrase "initiate them into" seems to imply a process, not a singular event.


_________________
"Do not wear yourself out to get rich" - Proverbs 23:4

Herb62

avatar
MEMBER
MEMBER
Ive always looked at the arts , If somebody keeps telling you over and over 165 times they will give you $100 dollars and you never see it , you dont pay them any attention anymore.....they have done this for years , call it lazy they never get anything done , or call it masterful disinformation .they want people to know but then they dont...... Wink Its all about reading between the lines IMO

tobyboy


MEMBER
MEMBER
[i] Shredd

I like your comments to this article. I feel the same way. I have disagreed with Kaperoni on free float and still feel this is going to be a fixed managed rate. My thinking is this will come out a little over a dollar enough that Iraq will stop using the dollar and build up strengh of Dinar. This appears to be a great article if we are reading it correctly.

Bondlady

avatar
ADMINISTRATOR
ADMINISTRATOR
the thing was it had been floating all these years...a dirty float...cbi never did change that even when the rate was programmed the dinar behind the curtain imo kept on moving slowly... but it still gained strength....cbi never changed its path it was on gurus an speculators did that........its time to stop that and grow on up imo...BL

Reflection


MEMBER
MEMBER
Bondlady wrote:the thing was it had been floating all these years...a dirty float...cbi never did change that even when the rate was programmed the dinar behind the curtain imo kept on moving slowly... but it still gained strength....cbi never changed its path it was on gurus an speculators did that........its time to stop that and grow on up imo...BL

Bondlady for president. awe yeah........

dezertheat

avatar
MEMBER
MEMBER
I agree with shred and BL,

I do think were finally close and its gonna rv around a dollar!

I will happy sit and wait and live each day to it's fullest until then..

go RV!

Shredd

avatar
CO-ADMINISTRATOR
CO-ADMINISTRATOR
I was talking with a buddy of mine about this article last night and we were picking it apart.....one part of this article seems to say one thing then another part seems to contradict it. I commented on this above but this article is stating what we already know, the plan for removing the zeros is on the table, the plan for introducing new currency is on the table and we know that the cbi and the goi have been discussing this.

So, from what I'm reading, there are two events in this article. I commented above on one of them....removing the zeros. This article also says that the new year won't witness the birth of the new currency. So, again imo, a process is implied here. If they don't jump to a buck right away, fine....manage it like they have (like Bondlady said) and eventually get there. But again, like I said yesterday, we all know we won't see de-dollarization until the dinar is competitive with the cherished dollar.

I've read where other forums discard this as a bad news article, but again, like I said (lol), we need to be excited that we've been seeing confirmation that the plan to remove the zeros is still on track. The timing of when they "birth" or introduce the new currency can fluctuate.....again, imo, when the dinar can compete with the dollar.

My takeaway is I'm excited to see the plan is still on track, and it looks like a process is implied. I believe that we are on the doorway of some very telling activity!


_________________
"Do not wear yourself out to get rich" - Proverbs 23:4

jeepguy

avatar
MEMBER
MEMBER
Fast Eddie wrote:

And revealed the Finance Committee in the House of Representatives, last July, the postponement of the deletion of zeros from the Iraqi currency, which the central bank intends to initiate them into the year 2014.


Shredd this last part where it say 2014 is what shows me we could be waiting another year. As you say we go by what we see the same in articles than 2014 has popped up more & more in articles. I hope I am wrong but if they where to float it from 1166 up & it could take a year on a float to see 1-1 than that might be what they are saying is no remove to 2014 when they hit 1-1. just another way of looking at the same article.
..................................i believe this part through 2014 is the duration of exchanging the larger notes , {zeros} ,,, good lord i am hopeful this is reading 1 to 1 ratio and the zero`s are in the books, not , zero`s off the currency 1st and then the rate hits after , 25,ooo =s 25.u.s.dollars pale ... this is one of those freeky deals that come along only once in a while ... hoping this is a super good deal 25,ooo =`s 25,ooo u.s. ??? shoot 25,ooo =`s 10,ooo u.s. i`ll poop myself ---- sorry getting excided

Sponsored content


View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum