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Council of Ministers postponed the process of removing the zeros from the national currency

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Shredd

Shredd
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CO-ADMINISTRATOR
Council of Ministers postponed the process of removing the zeros from the national currency

Date: Thursday, 12/04/2012 14:00


Baghdad (news) .. Council of Ministers decided to wait in the application process to delete the zeros from the national currency until further notice.

The Director General of the Department of Cabinet Affairs in a press statement received the Agency (news) a copy of it on Thursday that the decision requires to stop all actions relating to the operation until further notice.

added : The Council of Ministers Resolution No. (111) for the year 2012, adopted at the fifth regular session, held the day before yesterday was based on what I expounded on the Committee on Economic Affairs. / Finished / d. Q /

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Bye the sea


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MEMBER
Well, it could be worse.....it could have said that it was "eliminating", instead of "postponing".

IMO of course, as For timing, based on what is written, it couldn't be worse for we investors. Yet, it appears, as another Kurdish based article I just read on this site, it appears as though the factions have cancelled early election plans, and have decided to wait out Maliki. This article makes me believe the Council is doing the same.

Oh well, we may be here a while folks. Don't go buy any reserves, regardless of what Okie says....Ha.

All this is IMO of course. Hang in there, we will all need patience this summer. Dang it...... Mad

Thank you, and regards all, bye the sea sunny

gemini5


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MEMBER
Thank You Shredd...I read a lot of articles this morning....We were moving in the right direction...Then this one came along....I have to agree with Bye the Sea....that they are waiting until a change of government...I'm going to go sit in my corner and pout for awhile. Sad

Fast Eddie


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MEMBER
OK Now this is going to blow your mind. But this could be smoke screen for what is going on or they are waiting to see what happens to Maliki in the coming days as they will have a meeting may not be called the National conference but they will have some kind of meeting & if Maliki doesn't do what he has promised he could be out. JMO.

I saw this after I made my comment & thought it fit in here.


"said Najafi During the meeting, «should be a central bank independent and responsible according to the provisions of Article (103) of paragraph (2) of the Constitution, as well as Article 2/2 of the Law on Central Bank of Iraq 56 of 2004, which states that:« In order to achieve goals of the Iraqi Central Bank and the completion of his duties, the Central Bank of Iraq independent and responsible as provided for by this law. Except as otherwise set to this law, will not receive the CBI instructions from any entity or person or institution, including government institutions. And we will respect the independence of the Central Bank of Iraq can not be anyone of influence and improper for any member of the decision-making body in the Central Bank of Iraq during the performance of his duties in the bank, or to interfere in the activities of the Central Bank of Iraq »"

this was a quote from another art about Shabibi's visit to parliament & what Parliament said.
So with that said the counsel of ministers has no chance of stopping this.JMO



Last edited by Fast Eddie on Thu Apr 12, 2012 10:38 am; edited 1 time in total (Reason for editing : found something in another art to show the posiblitiy of this being smoke.)

Bondlady

Bondlady
ADMINISTRATOR
ADMINISTRATOR
and it could be a smoke screen like china did sayin they wouldnt rv then did it to curb speculators then again it might not be...have to wait an see...BL

posiqd


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MEMBER
Thanks Shredd for the post. I am Basketball

Reflection


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MEMBER
Bondlady wrote:and it could be a smoke screen like china did sayin they wouldnt rv then did it

That's the first thing that popped in my head after reading this article. With all the good news we've heard the last few days, I feel it's. Ery possible that it could be smoke.

And like what Eddie posted.... The counsel of ministers have no say in it or couldn't "postpone" the CBI anyway, so why would they say they were gonna?

Here's to staying hopeful. Things still look good IMO.

Thanks to everyone for the articles and input.

Fast Eddie


MEMBER
MEMBER
I got an email from Kap's site with his opinion of this art so I thought I would share it.

"Today's articles are a bit interesting. Maliki's Council of Ministers, said the council decided to wait delete the zeros of the Iraqi currency. Is this true or just smoke prior to the event?



Personally, I don't see postponement as an option for them at this point. Confirmed by the CBI, most of the larger (3 zero) notes are already collected. The dinar in circulation is very heavily worn. The new dinar is printed or being printed. June is the scheduled month for implementing tariff laws, Iraq desperately needs WTO accession. Almost daily, contracts and investors are being lost and leaving Iraq. Transition for the Iraqi Stock Market (ISX) which includes the implementation of Custodial Banking is almost complete. Iraq suffers from continued high unemployment, State and private banks are struggling for customers, deposits due to a lack of International opportunities or investment. Iraq is heavily dollarized (dollarization), Inflation is rising. Gangs of counterfeiting continues to surface, and loss of dollars (CBI reserves) to Iran and Syria. The list is endless. Here is the link to the article..."

Fast Eddie


MEMBER
MEMBER
Bondlady wrote:and it could be a smoke screen like china did sayin they wouldnt rv then did it to curb speculators then again it might not be...have to wait an see...BL

hahahah did I blow your mind when I beat you to calling smoke see I am still positive just not getting excited over the good news & just have been trying to have everyone see thing from a different point of view even though it may not have been the one people want to hear.
I even thought of adding from another art to my reply to try & show smoke.


WHERE THERE IS SMOKE THERE IS USUALLY FIRE!!!!!! cheers cheers lol! lol! lol! What a Face What a Face affraid

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