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 sandyf: "...the most probable date would be 1st January 2021"

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PostSubject: sandyf: "...the most probable date would be 1st January 2021"   Sun Nov 25, 2018 2:27 pm

sandyf: There are many factors regarding a redenomination that many would choose to ignore. Despite what many would have you believe, a report in 2009 concluded that successful redenominations only occurred in countries with low inflation, in those with high inflation the problem only got worse, Zimbabwe being an obvious example.
Redenominations are complex and as they affect the national currency are outside the scope of the central bank and in the case of Iraq would require a Bill to go through parliament, months at least. 
Redenominations are a public event and require a new currency to be introduced, ISO would normally issue the new code about 4 months before introduction. As a new code is to become the base currency in the accounting systems, software vendors are given targets to have the upgrades implemented and tested. A new set of accounts need to be created in the new base currency and then at the changeover, all existing accounts are reconciled and transferred to the new accounts at the new rate.
Preparation for a redenomination is usually in the range 12 to 18 months prior to the preferred dates of Jan 1st and July 1st. Should Iraq decide to procede with a redenomination during the next parliament then the most probable date would be 1st January 2021.
Over the years many, for ulterior motives, have tried to put a different interpretation on "delete the 3 zeros" but ignoring the Iraqi government is effectively putting your head in the sand. At the end of the day it is each to his own.
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PostSubject: Re: sandyf: "...the most probable date would be 1st January 2021"   Sun Nov 25, 2018 3:37 pm

1st January 2021?

How about...

There are two kinds of people in the world...and I don't like them.
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PostSubject: Re: sandyf: "...the most probable date would be 1st January 2021"   Sun Nov 25, 2018 5:25 pm

great music / the good old days
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PostSubject: Re: sandyf: "...the most probable date would be 1st January 2021"   Mon Dec 03, 2018 1:47 am

Yep, well Black Friday is past, to Jan 1st would be the next pooroo drop dead rate, just like 2017, 2016, 2015, 2014, 2013 .....

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PostSubject: Re: sandyf: "...the most probable date would be 1st January 2021"   Today at 6:36 am

I don't really think they going to increase their money value. Let's be honest. Every single time Iraq introduce new dinar example the 50k dinar and the latest 25k and 1k Dinar , it doesnt took more than 1 week before the new dinar starting selling in my country. And you guys really believe they recollect almost 2/3 of their circulated money? In your dreams really. If this thing drag more than 2 years , I believe they use the same method as EGYPT does. ISIS only exist because of 2 reason , Iran and poor. Nobody would actually give a damn about joining ISIS if your people are wealth and prosperous. You cant reconstruct your country if you don't have strong currency. Imagine other country came to iraq to build facility and homes only to get killed and bombs by ISIS. Who would volunteer go iraq to work just to get killed. I don't actually see a hope in iraq even after 5 years. How does anyone of you still think there's a hope in iraq when they need almost 1 year to complete their election saga. GG
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sandyf: "...the most probable date would be 1st January 2021"
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