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

I hope this is some of that smoke and mirrors that we have heard about, but this is horrible news for us as investors!

http://translate.googleusercontent.c...#axzz1rlxpKpwO

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

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

April 12 2012

(Voice of Iraq) - 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.

He added that 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 that introduced by the Committee on Economic Affairs.

Can someone shed some light because this sounds like horrible news :face:

Sounds as tho we had better hope "until further notice" is a short time.

1alaskan wrote:Sounds as tho we had better hope "until further notice" is a short time.

My fear is that they will say 2014 or even 2013 :(

smokin the smokey smoke....

supergirl wrote:smokin the smokey smoke....

Hope you are correct!

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Sounds more like China...."We will never Revalue our Yuan"...oh and by the way, just to prove it, here's an RV the next day !

We shall see.

Is there any way we can get a working link??

supergirl- hope ur right cause this doesnt sound so good

Time 4 a Capt'n' Morgan and Coke, I think-:drunken:

http://www.alliraqnews.com/index.php?option=com_content&view=article&id=34542:2012-04-12-14-33-24&catid=41:2011-04-08-17-27-21&Itemid=86


http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.alliraqnews.com%2Findex.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D34542%3A2012-04-12-14-33-24%26catid%3D41%3A2011-04-08-17-27-21%26Itemid%3D86&act=url

here's another link:

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http://www.ikhnews.com/news.php%3Faction%3Dview%26id%3D38953

Thanks supergirl but neither link is working. If this is true (however) we are in big trouble as our wait has surely been extended. We shall see.


Now the first link is working Thanks

terbo56 wrote:Time 4 a Capt'n' Morgan and Coke, I think-:drunken:

Dang. If this is true I'm going to need more than one. Better start with a baker's dozen. uuuggghhh

I remember when they realized removing the zero's could be a bad thing. Now they could just revalue like we would like without the removing the zero's. I say this is good!!!!!!!

They worked fine for me ....

Here is the story from a translation link that supergirl brought




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 by all of Iraq [where] a copy of it on Thursday that
"requires the decision to stop all actions relating to the operation
until further notice."
"The
Council of Ministers Decision 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 Economic Affairs Committee."
The
Central Bank of Iraq and on to San bank adviser appearance of Mohammed
Saleh told Al [where] the need for Iraq to the process of administrative
reform of the currency cash and that the project to delete the zeros is
a step comes as part of the country's need to the process of
administrative reform of the currency in order to reduce the cost of
cash transactions in the economic process as well as to the need to
provide small groups of coins used in daily circulation of small
transactions.
The
officials at the Central Bank as well as some politicians and
economists urged the government to delete the zeros from the currency
and the issuance of new currency denominations large cash in addition to
the presence of small coins.
Observers
say that the government intends to delete the zeros from the currency
as a step towards improving the purchasing power of the Iraqi dinar is
that economists played down the importance of this step, considering
that the cost of raising the zeros will be greater than the expected
benefit of raising the zeros. Ended

Good idea Terbo!!!!!!!! Glad you decided to join me!!!!!!! In relaxing mode!!!!!!!!!!!!!!!!

ntvtexan and fang2 - I agree!

Also I love these thoughts from Kaperoni. Mods if you feel its necessary to remove, please do so because I think he's not allowed here, but not sure. But I think he makes extremely valid points that should be shared:

"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..."

supergirl wrote:smokin the smokey smoke....

I hope you are right too supergirl. It sure doesn't sound good to me. Please someone find something that debunks this article.

@mr_evans2u all is well, it is done!

A very wise person on this site said the following this morning on another thread (rick152) and I quote:

"Today I am walking as if this blessing has arrived. Thank you lord for
the blessing you have so givin, thank you for today and the ability to
have been here with you and all the people I have met here."

Please don't let any of this other nonsense (background noise) get you down. We are on our way...

In the meantime, I'll keep looking for some more articles to debunk this for ya. If that helps...LOL

Of course someone can find an article somewhere that will de-bunk this one. That's what has been going on here for years.

This is not an investment or speculation that is going to make you rich over-night. If that's what you need, go to Vegas and hope to get lucky.

cassidy2112 wrote:Of course someone can find an article somewhere that will de-bunk this one. That's what has been going on here for years.

This is not an investment or speculation that is going to make you rich over-night. If that's what you need, go to Vegas and hope to get lucky.

Just a ray of sunshine

From the desperation that I detect from some people on these sites....

I don't know.... It just worries me that some of you are counting on this happening today.

Hoping and praying are perfectly fine things to do. They are however, not tools of implementation for an investment. I'm sorry to tell you.... that's just not how it works.

thanks supergirl, we may be right on!!!!!!!!!!

I think I detect some sarcasm.

Cassidy 2112, what do you mean?

Fang2 sounds like Cassidy needs one of those drinks you and turbo had earlier...lol. *klink* *klink*

I was referring to 1alaskan. It's all good. I thought it was funny.

Yes, it would certainly alter my outlook.

Cassidy I'll one with ya now too... Bottoms up...drink up. ;-)

Thank you so much supergirl I am greatly flattered by your words....

I have been trying to do my own interpretation on this so I'll break it down a bit...If one thinks I am mistaken here feel free to add...

1st paragraph:
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 by all of Iraq [where] a copy of it on Thursday that
"requires the decision to stop all actions relating to the operation
until further notice."
Is this not that the ministers have decided not to address this (deletion of zeros ) at all? By that like "hey we don't need to look at this so why waste our time on it for now" THE COUNCIL OF MINISTERS IS MORE OR LESS EQUAL TO THE "CABINET" OF OUR PRESIDENT. sO IT APPEARS THEY HAVE DECIDED TO NOT INTERFERE IN THE PROCESS OF DELETION OF THE ZEROS

paragraph 3:
The
Central Bank of Iraq and on to San bank adviser appearance of Mohammed
Saleh told Al [where] the need for Iraq to the process of administrative
reform of the currency cash and that the project to delete the zeros is
a step comes as part of the country's need to the process of
administrative reform of the currency in order to reduce the cost of
cash transactions in the economic process as well as to the need to
provide small groups of coins used in daily circulation of small
transactions.
This tells us of the plan of the CBI to reform the currency and reduce the cost of a cash transaction also introduce lower denoms
This reduction in cost will only be accomplished by changing the exchange rate against the dollar This p[eeps is either a R I or a R V. Otherwise at the current rate (1160) what would be the point?
Paragraph 4 & 5
The
officials at the Central Bank as well as some politicians and
economists urged the government to delete the zeros from the currency
and the issuance of new currency denominations large cash in addition to
the presence of small coins.
Observers
say that the government intends to delete the zeros from the currency
as a step towards improving the purchasing power of the Iraqi dinar is
that economists played down the importance of this step, considering
that the cost of raising the zeros will be greater than the expected
benefit of raising the zeros. Ended
In this the urgence of the CBI and other govt officials to move forward with the deletion of zeros and bringing out of the lowers Also discussing the Porbably now ended confusion about the advantages / disadvantages of doing the same.

Thats my take...What say you?

supergirl wrote:Also I love these thoughts from Kaperoni. Mods if you feel its necessary to remove, please do so because I think he's not allowed here, but not sure. But I think he makes extremely valid points that should be shared:

"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..."

Thanks for that

rick152 wrote:Thank you so much supergirl I am greatly flattered by your words....

I have been trying to do my own interpretation on this so I'll break it down a bit...If one thinks I am mistaken here feel free to add...

1st paragraph:
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 by all of Iraq [where] a copy of it on Thursday that
"requires the decision to stop all actions relating to the operation
until further notice."
Is this not that the ministers have decided not to address this (deletion of zeros ) at all? By that like "hey we don't need to look at this so why waste our time on it for now" THE COUNCIL OF MINISTERS IS MORE OR LESS EQUAL TO THE "CABINET" OF OUR PRESIDENT. sO IT APPEARS THEY HAVE DECIDED TO NOT INTERFERE IN THE PROCESS OF DELETION OF THE ZEROS

paragraph 3:
The
Central Bank of Iraq and on to San bank adviser appearance of Mohammed
Saleh told Al [where] the need for Iraq to the process of administrative
reform of the currency cash and that the project to delete the zeros is
a step comes as part of the country's need to the process of
administrative reform of the currency in order to reduce the cost of
cash transactions in the economic process as well as to the need to
provide small groups of coins used in daily circulation of small
transactions.
This tells us of the plan of the CBI to reform the currency and reduce the cost of a cash transaction also introduce lower denoms
This reduction in cost will only be accomplished by changing the exchange rate against the dollar This p[eeps is either a R I or a R V. Otherwise at the current rate (1160) what would be the point?
Paragraph 4 & 5
The
officials at the Central Bank as well as some politicians and
economists urged the government to delete the zeros from the currency
and the issuance of new currency denominations large cash in addition to
the presence of small coins.
Observers
say that the government intends to delete the zeros from the currency
as a step towards improving the purchasing power of the Iraqi dinar is
that economists played down the importance of this step, considering
that the cost of raising the zeros will be greater than the expected
benefit of raising the zeros. Ended
In this the urgence of the CBI and other govt officials to move forward with the deletion of zeros and bringing out of the lowers Also discussing the Porbably now ended confusion about the advantages / disadvantages of doing the same.

Thats my take...What say you?

Rick, well thought out and makes sense

Rick152 ur welcome and your analysis sounds good to me.
Punisher ur welcome. Did u guys see this article?


Parliament: the Government's request to wait delete the zeros is not justified


12/04/2012

Parliament: the Government's request to wait delete the zeros is not justified

BAGHDAD / JD / .. The decision to slow down the last government to draft the deletion of three zeros from the Iraqi dinar, Hfadh Parliament, which promised him a member of the parliamentary economic Albjara Nora, as unjustified, stressing that the government statement did not give his reasons for the request to wait. The Albjara in a statement summarized by the agency (KD) that the project to delete the zeros and according to him the CBI came at the request of the government to the bank since 2004, after a project to replace the old currency, and this means that the central bank took in the process of developing a strategic replacement and delete the zeros more than seven years before he presented to Parliament to announce the readiness of the last to roll. Albjara and hinted that there are other reasons behind this trend, especially as recently witnessed interactions between several points relating to the independence of the Central Bank. It showed that the project display an official letter to the Parliament by the Central Bank and is currently working on the economic study of all aspects of the form prepared by the law then so they can be discussed and passed naturally. Central Bank of Iraq had previously said on the lips of his deputy, the appearance of Mohammed Saleh, said that this project presented a deletion of zeros to the bank by the government, and here the role of the bank and he is responsible for monetary policy, the preparation of a replacement strategy Tabieia. (JD) obtained documents that confirm that the central bank will begin the process of replacement early next year and will last two years. The Director of Cabinet Affairs in the Secretariat-General has said in a statement received / JD / copy of it: that the Council passed a resolution whereby the patient in the application process to delete the zeros of the national currency. He explained that the decision requires to stop the procedures all related to the operation and until further notice. He said "the decision of the Council of Ministers, which will carry number (111) for the year 2012 and approved at regular fifth session, held the day before yesterday was based on that introduced by the Committee on Economic Affairs. The aim of the process according to the Iraqi Central Bank to reduce the money supply enormous, and the alleviation of inflation, which he considered Bank (monetary inflation) due to increased amounts of cash pumped into the street, which invited him to the foot to the deletion of three zeros from the currency. According to sources, the process of deleting the zeroes will be early next year, and that the measure will be gradually until the absorption of the entire banknotes old from the market completely. It is noted that the current and new currencies will work at the same time without reducing the value of any of them until the full absorption of the existing currency, or which will be the (old).


http://translate.googleusercontent.com/translate_c?rurl=translate.google.com&sl=ar&tl=en&u=http://dananernews.com/News_Details.php%3FID%3D341&usg=ALkJrhhSDVc2T8_XbWEJKPbzUu2ZWpshmQ

Supergirl, thanks for that. Who knows what to believe ...

Thanks for that supergirl Just shows that the parliament and the "council of ministers" are in different corners in this approach....

Now look at it this way...Council of ministers (cabinet which = Maliki)
VS
Cbi, parliament and, Shabibi

Who do you think will win that battle??
Maliki looking only for his own interest's or the parliament and Dr Shabibi looking out for the people and Iraq.

Just something to think about!

rick152 wrote:Thanks for that supergirl Just shows that the parliament and the "council of ministers" are in different corners in this approach....

Now look at it this way...Council of ministers (cabinet which = Maliki)
VS
Cbi, parliament and, Shabibi

Who do you think will win that battle??
Maliki looking only for his own interest's or the parliament and Dr Shabibi looking out for the people and Iraq.

Just something to think about!

I do think in the end it will not be Maliki, I just hope the battle does not come down to the full 15 rounds and it is a split decision by the judges.

1alaskan and rick...good pros and cons.

Thanks Supergirl, I will drink to that!!!!!!!!!!!!!! Cheers!!!!!!

Found these great comments on facebook jh's page, good stuff:

Frederick Palm: There is absolutely no reason to be alarmed about this statement. A statement like this holds very little weight if it is not made by directly from the CBI. We all know the CBI is an independent body and they believe this is the best course of action for the country to drop the three zeros and they are correct ( i'll explain why a little later). There are several main things that our attention should be drawn closely to. The first thing is the relationship between Iraq and Kuwait. The relations between these two is the catalyst to everything else. We have been told by Ban Ki-moon himself that Iraq's future lies on resolving outstanding issues with Kuwait. Without this Iraq has NO, I REPEAT NO CHANCE of being released from remaining CH VII sanctions (and all reports lately indicate that Iraq and Kuwait both recognize this and are working jointly together towards this end). This brings me to the second point; the UNSC will revisit this very issue in June this year. In light of the recent reports shows MAJOR progress between the two countries in resolving the outstanding issues stated by the UNSC resolutions. I believe Iraq is leaning successfully towards this aim rather than being neutral or back sliding. Now for the third point; ascension to full membership of WTO. It seems to me unlikely that Iraq with be admitted to full membership of WTO if remaining CH VII sanctions remains over their head. Yes, there are other factors that could derail us all like the Iraqi government coming completely destabilized between the political blocks and civil war breaks out (but I highly doubt it). The political situation in Iraq is a tangent from the three most important events we need to look to (IMO). The reason is this, Iraq is closest it has ever been to putting the consequences of their dark past under Sadaam’s regime behind them and they all know it. There have been calls from members of parliament to put the fire under Maliki to make this a priority (and I believe Maliki is doing just that). So out of their own mouth they admit this is a very important step for Iraq to be prosperous again. It seems unlikely to me as much as they dislike Maliki, they will cut off their own nose to spite their face in this regards. Unless whatever agreement Maliki has made with Kuwait in March is so offensive to the other political parties, will cause them to have the resolve to remove Maliki from office regardless of the cost to everyone involved. Now back to the CBI; I believe they are doing the right course of action because of the reasons they’ve stated. To reduce the money supply from 30 Trillion to 30 Billion Dinars to combat inflation the country has suffered for years. Also to facilitate easier transactions, not only for the benefit of the Iraqi people internally but also for external/international transactions. We all are not blind to the vast wealth Iraq holds in natural resources of oil and gas. Crude oil is priced in US dollars, the CBI knows this and that is why I believe they have stated that one of the reasons for currency reform is to “facilitate easier transactions”. They have also said that the new currency will be produce in lower denominations, something similar to the denominations like we have here in the US. Also many times it’s been stated that this will result in increasing the value of the Dinar 1 to 1 to the USD. These steps will help greatly when transacting millions of barrels of oil on the open market back and forth between IQD and USD. I believe the CBI expects Iraq to come out of CH VII and be a full member of the WTO in the future and in the light of the challenges it faces now and will face in the future, currency reform is the proper course of action. Expect these statements to come out here and there about putting the project on hold, not the right course of action, political parties calling for Maliki to resign, Maliki going to take over the CBI, etc. As regards to the currency reform, if the CBI hasn’t stated that the project is on hold then its full steam ahead. As to regards of Maliki taking over the CBI, nonsense. Focus on whats going on between Iraq and Kuwait, then look to see what will happen in June. If Iraq is release from CH VII then everything else will fall right into place.

Just Hopin: Well
said Fredrick! I will add even if the CBI acknowledges the
postponement I feel this is an appropriate action to take from a
management point of view. Iraqs monetary system is under attack
creating instability. Taking on a major reform plan such as dropping
the zeros without at least addressing the currency attack would be poor
decision planning. The CBI and the GOI need to first agree on how to
address this problem. In my opinion...the CBI should beging to absorb
all the USD in circulation, promote the dinar as the national currency
of choice, and raise the exchange rate. This not only takes the USD and
dollarization out of the equation but at the same time forces Iraqi's
and those regional neighbors to begin using IQD...creating greater
confidence in the Iraqi dinar.....But that is just my opinion...Maybe it
would work perhaps not. I do believe the currency reform plan will
eventually continue as scheduled. I will also add Iraq is enjoying
economic growth over the past few years as a result of some trade
sanctions lifted in 2010, more oil production, and some private sector
investment but when the viel of Chapter VII lifts from Iraq a large
amount of economic pressure will be placed against the dinar. I
anticipate once the currency is unrestricted and recognized
internationally the CBI will be a great amount under pressure to keep it
stabilized against the market if they want to keep the 1100+ exchange
rate status quo. The only way to relieve that pressure is to let the
dinar adjust to the market rather than its peg.

Remember this cabinet that is saying hold off on deleting the 3 zeros is lead by Maliki. Folks they have no control over the 3 zeros. The CBI has control over the currency. Remember Maliki just tried to take over the CBI? It aint happenening. So ease off on this one Maliki has no control over the CBI. Blessings

stevejss1 wrote:Remember this cabinet that is saying hold off on deleting the 3 zeros is lead by Maliki. Folks they have no control over the 3 zeros. The CBI has control over the currency. Remember Maliki just tried to take over the CBI? It aint happenening. So ease off on this one Maliki has no control over the CBI. Blessings

Cool

Here is a link to council of ministers meetings. Have been told that sessions 12 and 13 are strangely missing from the agenda Hmmm





http://www.nmc.gov.i...se.aspx?CatID=3

rick152 wrote:Here is a link to council of ministers meetings. Have been told that sessions 12 and 13 are strangely missing from the agenda Hmmm





http://www.nmc.gov.i...se.aspx?CatID=3

Could be meetings they discussed the rv

You never know punisher...I'm hoping someone can come up wit a translator so we can use this link other times also

I think we will get a better understanding of what happened this week by MONDAY/TUESDAY...

Troubling news and even more troubling response!
Why is it that when an article comes out which lends to a positive influence on this investment, everyone instantly labels it as FACT but if news surfaces which is not what everyone wants to hear, it's always dubbed as "smoke"???
There really seems to be a serious lack of objectiveness by most invested that alludes to most having clouded blinders permanently attached.

Anyone that is serious about ANY investment will do the research, study the results and form an educated decision based on ALL of the evidence available.
To simply ignore what does not agree with your personal perception is a pure act of ignorance and self deception.

Just imagine if our judicial system operated in this manner!
If ONLY what the prosecution were heard and the defense was gagged (or vice-versa).
The point is, a one sided perception and the intentional, selective ignoring of ALL available information is purely ludicrous!!!