Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years -- PLEASE NOTE --- THIS IS FROM MAY of 2012

by **Ponee** Tue Dec 03, 2013 1:48 pm

PLEASE NOTE --- THIS IS FROM MAY of 2012

I thought this wold be a good time to revisit this article from May of 2012. They are several Key points here that we have to consider. Also, compare them to what the gurus are saying. There are vast discrepencies.

As for them stating that they 000's would be pulled in 2013.... hey, we still have a little more time left in 2013. Who knows mayb something will happen. ANYTHING! Just to end this whole ride....

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Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years

Published on Thursday, 05 / 2012 08:35 | posted by: Rasan | Print | E-mail | Hits: 253

BAGHDAD / With: revealed the parliamentary finance committee that the central bank has agreed to allow replacement of the survival rates for ten years from entry into the exchange, stressing that the three companies had to perform the printing new currency.

A member of the Finance Committee, the parliamentary Haitham al-Jubouri said in an interview to the correspondent of news agency future: "The Finance Committee and even the central bank were afraid of the process of handing over money to the Iraqi banks could see the manipulation or through which some of extortion in order to reduce the delivery time therefore, and after studying the abundant of the subject and agreed conservative central bank that there is a lot of time represented by ten years to the Imam on the currency exchange receipt of new surveys of the Iraqi currency and replace the old El Jadida. "

The Jubouri that "a mechanism to replace the currency will be in two years and the first three stages are the printing process and secondly the process of offering the two currencies in the markets of Iraq and the third pull the old currency and to keep only the new currency."

The Jubouri that "there are companies presentations were made to the Central Bank and the Iraqi government in order to compete on the process of printing new Iraqi currency as each company competes in terms of price, first hand, security second, and both these issues are two important too, noting that all the offers are under hand, but must first get to the final decision to switch the currency or not, and then can receive offers and discussed in detail. "

The Jubouri that "the offers made are from Switzerland and Russia and Brazil and that these offers are competing in terms of the quality of the paper and worker security primarily, so the offers must be subject to a discussion of a specialized committee of the Central Bank of Iraq to determine the priorities of the companies that can be printed Iraqi funds ".

The Central Bank of Iraq announced (on 29 September 2011) that the year 2013 will see the deletion of zeros and currency exchange rates, pointing out that the current formed a cluster of large cash estimated at 30 trillion dinars.

According to some economists that Iraq is ready for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion of zeros needed to stabilize the security and political as well as economic stability.

And declared the Iraqi Central Bank Governor Sinan Shabibi independent bodies during a meeting with Prime Minister Nuri al-Maliki, which was held in (June 19, 2011) is ready to create all supplies to replace the Iraqi currency. (Finished)

Marwan Shuwaili

Source

by **Ponee** Sat Jun 27, 2015 9:02 pm

So, why should we believe anything being said now?

by **Kevind53** Wed Sep 30, 2015 4:43 pm

Well, if the alternative is listening to the pooroos .....

by TheArtistFormerlyKnownAs Mon Jun 27, 2016 11:33 am

Ponee wrote:So, why should we believe anything being said now?

Are you saying Ponee that they could be bluffing when they talk about deleting the zeros (LOP)?

by jrg Tue Jun 28, 2016 9:05 pm

So what is the point here? Allowing a long period to trade in the old currency for the new is pretty standard for redenominations, which is what they were describing back then.

Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years -- PLEASE NOTE --- THIS IS FROM MAY of 2012

Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years -- PLEASE NOTE --- THIS IS FROM MAY of 2012

Re: Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years -- PLEASE NOTE --- THIS IS FROM MAY of 2012

Re: Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years -- PLEASE NOTE --- THIS IS FROM MAY of 2012

Re: Parliamentary Finance: Central Bank will continue to receive the old currency for a period of ten years -- PLEASE NOTE --- THIS IS FROM MAY of 2012

that is a common way to perform a redenomination