Central bank: There is no intention at this time to restructure the currency and delete the zeros

Central bank: There is no intention at
this time to restructure the currency and delete the zeros


Thursday, April 25 / April 2013




BAGHDAD - considered the Central Bank of
Iraq, Thursday, that there is no intention at this time to restructure the
currency and deleting three zeros of them, denying the reports in this regard.



The bank said in a statement received
"Alsumaria News," a copy of it, that "some of the media handled statements about
the intention of the Iraqi Central Bank currency restructuring and deleting
three zeros of them," He said, "at a time when the Bank asserts that the only
reference to a statement about things like this indicates that there is an
intention to restructure the currency and delete the zeros at the moment."


The local media covered a few days ago, an
announcement was made that the procedures restructuring of the Iraqi currency
and delete the zeros of which will begin soon, arguing that it would lead to the
development of economic and monetary transactions in international new
development at the level of the Iraqi currency


It is noteworthy that the General
Secretariat of the Council of Ministers announced in (12 April 2012), the
patient in the application process to delete the zeros from the national
currency, which had to stop all actions related to the mentioned process until
further notice.


It is noteworthy that some economists
believe that Iraq is not ready at the present time to delete the zeros from the
Iraqi dinar, pointing out that the deletion needs to security and political
stability as well as economic stability


http://translate.google.com/translate?hl=en&sl=ar&u=http://www.akhbaar.org/home/2013/4/146014.html&prev=/search%3Fq%3D%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%26lr%3D%26tbs%3Dqdr:d

There could be a 90 cent rate in the near future in order to balance, inflation, But we won't see the revaluation until the government is formed and stablized. Then, a possible a rate close to $4.00.

OK one article says yes, one says no ... kinda makes you think huh?

"There is no intention at this time to restructure the currency and delete the zeros"

"stop all actions related to the mentioned process until
further notice."

"pointing out that the deletion needs to security and political
stability as well as economic stability"


Ponee,

My employeer swore to my face that there was "currently no intention to close the office" Exactly two weeks later they closed. Anytime a business or goverment makes statements like "currently" or "at this time" they are performing their duties as a corporate officers. Fiduciary responsibilities are their prime responsibility. To answer a question regarding the corporate direction would in some cases allow people to take advantange of the stock (or dinar) ahead of the acctual occurrance. This would be considered insider trading and is illegal at least here in the US. So while there are "No intentions at this time" there will be intentions on the day it occurs. This is how they justify that they did not lie. This is damage control by the CBI to keep people from running out and buying dinar. Fiduciary responsibility.

As for the last statement pasted here, why would you need security if 1000 becomes 1, (LOP) you wouldn't. However, If 1000 IQD became 1000 USD you would have a very significant security issue. Just my opinion

Dinar Phoenix...Great Perspective The Central Bank is not going to announce what there doing .............TLF

TLF not only will they not announce it but they will try like heck to hide it

"pointing out that the deletion needs to security and political stability as well as economic stability"

The security being referred to is the security on the notes themselves to prevent counterfeiting.