Delete 3 zeros from currency

Issued by the Unity Foundation for Press, Printing and Publishing

Sunday 04/21/2013 - Issue No. 15133

News Publishing

Arab economy, international

Sunday 04/21/2013

Delete 3 zeros from currency

She said the parliamentary Finance Committee in Iraq, said the central bank, according to official correspondences, the current year will begin procedures to delete three zeros from the local currency, which will lead to the development of cash transactions and the Iraqi currency, which has suffered large waves of inflation and the decline in exchange rates.



http://translate.google.com/translate?hl=en&sl=ar&u=http://thawra.alwehda.gov.sy/_View_news2.asp%3FFileName%3D19182443520130420212209&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26start%3D10%26lr%3D%26sa%3DN%26biw%3D1280%26bih%3D595%26tbs%3Dqdr:d&sa=X&ei=WlBzUePYHI2RkgX4hYH4Bg&ved=0CEoQ7gEwAzgK
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Something seems to be going on...this is like 2011 all over again with all these articles.

Not to mention 2012 ....

Ground hogs year every yea regarding iraq informationr.. And a bonus: -- A lop is coming soon to a theater near you. :0

The only smooth transition I want to happen if I still have dinar then is to be able to cash it in or be able to exchange our dinar we hold now for the new currency. A in-country exchange only would suck.. Just food for thought.. Think they care about foreigners?.. Me don't think so

All smoke, drunken Iraqis-

Shabibi has said is that they're going to redenominate or remove the zeros. When that happens the value of their currency will be raised, but only because their currency will be replaced by a more valuable currency. The IQD that investors hold will not increase in value in a redenomination. It will be exchanged for the new currency at a ratio of 1000 old for 1 new dinar. There have been times when statements coming out of Iraq have used the word "revalue" but if you'll read the context you'll see that they're describing the process of redenomination, not revaluation. Revaluation is a simple adjustment to the exchange rate. It requires no new currency printing and no education process for the public. Redenomination requires approval from parliament to print new currency. The exchange rate will go from 1166:1 to 1.16:1 and the value will go from $.00086 to $.86. The old currency will eventually be demonetized (declared worthless) and nobody will make any money off of the process. Basically, 1 dinar will equal roughly 1 dollar..(revenue neutral, restructure, lop or no exchange rate change)

Lopster,
I agree with you on most, but disagree with you on some! Devaluation of a currency only happens with hyper inflation, which Iraq has never had, even during Suddams rain of terror.
Read this:
http://www.unc.edu/~lmosley/APSA%202005.pdf

http://ajanderson.forumotion.com/t38-article-that-puts-the-lopsters-to-bed

Inflation was around 60% during that time. Iraq has controlled inflation making it a different ball game. The dinar is pegged to the dollar already. The money supply keeps growing as well.

Lopster doesn't get it.

I get it loud and clear. Thx

Sorry Lopster, YOU DO NOT!

It's happening again- How did I know that? Back to square one, are we?:shock:

We all think we know better or researched it more thoroughly so we alone know the truth. The fact is no one truely knows and at some point we formulate an opinion, but it is just that our opinion. I agree with lopster to a certain extent. It could be a redenomination, but there are other reasons to support otherwise. Instead of getting defensive maybe we should state some of the contrary views and see where it goes just for the sake of discussion. I for one believe it could, but may not happen just as lopster stated. I considered this senario before I got into this investment. Not making money, but having a potentially high upside was still a good investment. I wouldnt make money but I wouldnt lose. Furthermore, if it did redenominate and then exceed a one to one to the USD I could potentially double or triple my money. And if it did revalue ! Winner Winner Chicken Dinner, or then I could afford Lopster.

Do you think when the Paris Club boys sat down to eat there chicken dinner and lay up the plans for Iraq they were planing for one to one? IMO we think way to small. They were not looking at the chicken dinner they are look-in to buy the Farm... TLF PS I Know Better!!!! you are soooooo Hot phoenix....lol

TLF you make me laugh. But, to answere your question I do not think that the Paris Club Boys or those in charge of the central bank system think small. Greed rules the day. If more is better than MUCH more is MUCH better.

PS you never want to touch a Phoenix. Way to hot.

Well I do have one Phoenix I can touch, and sometimes even wrassle a little bit ... my niece!

You guys are silly.