Deleting currency and CH7

Look how this is phrased:


On: Sun 07/29/2012 7:06




 Baghdad / range
warned economist reconcile inhibitor of the possible collapse of the national currency at the application of the deletion of the three zeroes from the currency, calling for an economic feasibility study for the project before its implementation.
said inhibitor in a press statement that the project re-structuring of the local currency by deleting three zeros


Which needs to be enough time for discussion by experts and specialists, study in detail to see the negative and positive results and the extent of its importance to the economy and its impact on the national currency. He suggested: Launch of the new currency along with the old currency for a period of not less than (10) years so as not to cause damage to the economy or a breach in the market, noting that Turkey fought experience and has seen an economic crisis as a result of launching a new currency for once with the withdrawal of the entire currency of the old. He added, must be careful before implementing the project to delete the zeros because a large project concerns the general public and its effects directly on the economy, whether positive or negative, calling to put a good mechanism to be applied to prevent the occurrence of probably cause in which a collapse of the local currency, a public placement, fraud, or something like that.
announced Central Bank earlier in the year 2013 will see the deletion of zeros and switch the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes.
and demanded the prime minister's central bank to wait a project delete the three zeroes from the local currency , saying he was a big project and needs to be enough time to apply it.
confirmed the parliamentary Finance Committee earlier that the process of replacing the currency and delete zeros of which will be gradually beginning next year, noting that the process takes two years to three. A member of the Committee Hassan Auzmn that the central bank will withdraw the current currency early next year, gradually and keep the trading currency current to give citizens enough time to replace the currency. "
He Auzmn replacement of the currency and delete zeros experience a successful and useful for the Iraqi economy through their success in a number of other countries, pointing out "The operation will contribute to ease carrying banknotes to the citizen will not have any negative impact on the Iraqi economy (according to him). Announced that the Finance Committee of parliamentary early July being the budget next year 2013 will be the new currency after deleting three zeros from the current currency, saying that the reluctance of traders and companies from trading in Iraqi currency behind the adoption of the Central Bank of the project to delete the zeros.
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 needs to stabilize the security and political and economic stability. noting that deletion of zeros in the atmosphere is unstable to the Iraqi dinar exchange rate process do not matter either occurred in the current year or next year, and that Iraq does not need to replace the Iraqi currency scheduled for the coming year as it is needed to stabilize the oscillation made ​​in the Iraqi dinar exchange rate against the dollar.
considered a member of the Committee of Economy and Investment Abdul Hussein Resan postponing the implementation of tariff for the fourth time "if negative", you should pay attention to the government seriously .
said Resan told him press office that the citizen needs to be patient at the beginning of the application of this law with respect to government action or executive, adding that in future people can to reap the fruits and positives of the application of this law.
He added that they asked for the application of customs tariffs have justifications, but since the delay latter is the fourth of its kind for this law, the justifications are not active are acceptable, noting that if this delay is the first we were able to hear excuses and try to address them, either the fourth with the same justification shall be considered if negative should heed the Government to be addressed in earnest.
The Ministry of Finance has revealed that the main reason behind the request to postpone a law tariff is due to the lack of specialized staff to monitor the entry of goods, saying it takes a full year to end the rehabilitation project and the numbers of these cadres.

http://almadapaper.net/news.php?action=view&id=69009

Settle the issue of Iraqi Airways,

Baghdad - Al Sabah

of Kuwait yesterday pledged to support efforts to end the outstanding issues with Iraq in its final form. came during the receipt of Prime Minister Nuri al-Maliki, a telephone call conducted by his Kuwaiti counterpart Sheikh Jaber Mubarak Al-Hamad Al-Sabah to congratulate him on the occasion of the holy month of Ramadan.

"The two sides discussed common issues between the two countries and the most important developments on the Arab and international arenas, according to Kuwait News Agency. and the Iraqi-Kuwaiti relations have been positive developments as the Minister of Public Works and Minister of Planning Development and Minister of Kuwait, Dr. Fadel Safar recently, to dispense with the fourth phase of the port of Mubarak the Great, which was expected to reach the number of berths to 60 Marina, and only the first three stages only bringing the number of berths to 24 Anchorage only, pursuant to the agreement between the two governments recently Kuwaiti and Iraqi forces. He al-Maliki and the holy satisfaction of the results resulting from the recent talks between Kuwait and Iraq, as the latter confirmed his country's support and its commitment to pursue bilateral efforts to resolve all the current files and the final. The government had agreed to a friendly settlement reached by the countries to solve the problem of Iraqi Airways. said government spokesman Ali al-Dabbagh: "The Council of Ministers approved in its session the usual thirty-second day yesterday, on the friendly settlement agreement signed between the Minister of Transport and Minister of Communications of Kuwait to resolve the problem of Iraqi Airways and recommend to the House to allocate $ 300 million within the budget in 2012 and $ 200 million within the budget year 2013.

"It is said that the Finance Committee in the House of Representatives approved the allocation of the amounts required to repay the debt of Kuwait Airways Corporation. and Foreign Minister Hoshyar Zebari announced that reach Iraq and Kuwait to formula for the settlement of debts of Kuwait Airways, as the Iraq of Kuwait will pay $ 300 million in cash and invested $ 200 million in a joint airline to settle the dispute.

http://www.alsabaah.com/ArticleShow.aspx?ID=31971

So, in other words, if Iraq deletes the 3 zeros on their notes, they WILL be screwed,and so will their people, and so will we-

Huh?

Re-read the top piece of the post- That's what I got out of it-If they do what they think they are going to do, the economy of Iraq will go str8 down the dunny- Then everyone's SCREWED!

Oh ok

Ok - don't everone panic...been reading the translations for over a year now - and the translations DO NOT ALWAYS READ as we would decipher them.

It basically says that SOME economist (obviously that were NOT part of the previous feasibility studies), are stating that the econonomy COULD collapse..in thier opinion, and that MORE study is needed.

There will always be people for and against - but it needs to be remembered that Shabibi is former IMF, his credentials are strong - but there are those who wish to stir the pot as THEY do not understand, and want to be off the hook and re-elected or elected into office by those who are fearful of what they do not know.

There has always been a plan in place - and that plan was put on hold in March and brought back into play in June/July - as stated by the SIGIR report to the UN about the deletion of the zeros and its value being just less that the USD.

We are not in trouble - it is campaigning BS. One person wants to be the guru there - the naysayer that turns out to be right as they see it. They are wrong - have been proven wrong, and they can go study their own dang self. (wow - I keep saying things outloud)

IQD4US- That is fine with me- Everything you say makes alot of sense, and that's more than the Clown choir gives us, which is basically nothing but grief-You are alright in my book- Not only that, but you also help us all to stay grounded 'til this presents itself- Keep it comin'-:cheers:

IQD4us, wasn't yesterday or today suppose to be a big day for something?

Same old stuff ... another oped from another self proclaimed, but unnamed "expert" spouting the same old same old ... can you say smoke? I knew you could ...

Puff, choke, gag, hack, sneeze, spit, puke.......