Iraq's New Fiscal Year Is 2013?

See the article below posted on Dinar Daddy's news:

* Fever of speculation in the Iraqi dinar sweeping global financial markets and private jets moving from Erbil!!

October 3rd, 2011 06:08 am · Posted in NEWS (Iraq & World Currency)

Revealed the financial sources familiar with in Dubai for the points of U.S. founded a Web site online, titled (iraqidinar.com), respect to speculate in the Iraqi dinar and encourages Americans to this, as he says a source from inside the Green Zone that some of the condos to the leadership of officials and officers turned to the banks do not comply with the specifications of the financial storage because they were filled with U.S. currency.

The same sources quoted by traders on Wall Street for invitations and announcements launched by the U.S. administration to encourage the purchase of the Iraqi dinar, through the Web site, which provides a detailed explanation on how to buy the Iraqi dinar, agents and pricing.

The sources said that there is a fever to buy the Iraqi dinar sweeping the financial markets in the Gulf, Wall Street, noting that a major GCC banking companies active in this field and offers great facilities for asylum-dinar purchase and transportation of a private aircraft from Arbil to anywhere in the world.

Underscoring the Iraqi Central Bank that the year two thousand and thirteen will delete the zeros and the currency exchange, pointing out that the current currency formed a cluster of large cash estimated thirty trillion dinars, says economic expert, who requested anonymity, said the Iraqis to delete the three zeroes from the currency in order to raise the value of , explaining that the delay was for about a year to give the opportunity to collect the Iraqi dinar from the market, especially now that there are traders who store the dinar to a monopoly in the right moment. He said the Iraqi economic expert, promoting Americans to buy the Iraqi dinar, and said that the Americans claim to their own citizens to trade in dinars and buy it, but that the American call for that almost make you buy it already and nationally, he said.

According to the economist, who works as a consultant to major financial houses Gulf, the Kuwaiti dinar has doubled its value 3 times after the liberation of Kuwait, while the value of the Iraqi dinar and Iran after the war two and a half, and is now a candidate for the high value of 4 times.He disclosed that Kuwait, Jordan and the Gulf States and the United States in particular and Israel to deal with Iraqi merchants, including Kurdistan and some who have taken from the Gulf, Jordan and Syria, the headquarters for them to collect the dinar and sold at competitive prices, pointing out that billions of dinars are stored in private homes called (Ware House), which like banks, but trading was not working only be stored and deposits whatever their value Kamanat Bossullac.

He noted that some of this strange procedure, but it really Ihddt, Valdanar stores and bought an escape from the country’s aircraft formal and informal, and perhaps with the knowledge and involvement of senior government officials and influential.

According to the expert, the Central Bank of Iraq has reservations on the reserve of more than $ 4 billion Kkhozan strategic Revealing that Prime Minister Nuri al-Maliki to exercise strong pressure to pull this stockpiling, but the bank rejects it every time because it means the bankruptcy of the state. And the transfer of an expert from one of the delegation members who accompanied House Speaker Osama Najafi, during his recent visit to the UAE, saying that Maliki is trying to control the Central Bank of Iraq, specifically stockpiling strategic than the dollar, through a plan of a two-pronged one: to weaken the central bank as an independent first, and and then placing the hand on the inventories of strategic dollar, before the start of plan to raise zeros.In the meantime, according to a source from inside the Green Zone, some condos with leaders and officials and officers turned to the banks not matching the specifications of storage because they were filled with financial currency U.S. dollar.

The source says that this process has affected the level of trading currencies in the Central Bank of Iraq, but are invisible until the moment, but he expressed the belief that this will cause major problems on the economic level of the later.

According to the Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, the Bank’s strategy of deleting three zeros and the currency exchange will be at the beginning of a new year and the budget for the new Iraqi state, are expected to switch the currency in the new fiscal year for the year two thousand and thirteen.
He said that the zeros have been added for the currency led to the deterioration of the currency in Iraq has led to weakness in the efficiency of monetary exchange, noting that what you are suffering monetary institutions of Iraq at the present time of the errors in the accounts and records of returns caused by the high number of currency that are difficult to read, explaining that greater currency in Iraq at the present time is equal to twenty-one dollars and are not able to cover large payments. Salih stressed that the process of removing the zeros and the currency exchange is the process of administrative reform of the Iraqi currency cash and thus do not affect the value of things to raise the per capita income or change in Iraq.

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i cant see this happening in 2013 ,they need this now ,,smoke

bobbysac wrote:i cant see this happening in 2013 ,they need this now ,,smoke

The dropping the three zeros may not happen until 2013 but they'll have to RV first. They mention in the article that they won't start to release the new currency until they received in most of the old currency. The only way I'll release my currency, and you too I would imagine, is after RV. I still believe this will happen soon so that the next step (collecting Dinar with three zeros) can begin.

Remember, as it has been written manytimes over and over, the raising of the zeros will not affect the value. Only the RV will affect the value. :bball:

Just to clarify - A fiscal year means the beginning and ending dates of a company's (or country's) business / financial transactions. So the post title "Iraq's Fiscal Year Is 2013" is a misunderstanding of the article translation. There is no one year that is labeled a fiscal year. You can't call 2013 Iraq's fiscal year. Every year Iraq has a fiscal year -- or the world has ended :shock: lol.

Having said that....

I think all the underlines in the article indicate that you're worried that the RV will take place in 2013. IMHO, the article doesn't mean that at all. I think it means that the process of removing the higher denoms from circulation around the world will be completed by 2013. I believe, like many gurus do, that the RV will happen really soon or Iraq's inflation may cause major problems.

JMHO, but I'm learning every day.... :study:

Gmansaid wrote:

hoopin wrote:

bobbysac wrote:i cant see this happening in 2013 ,they need this now ,,smoke

The dropping the three zeros may not happen until 2013 but they'll have to RV first. They mention in the article that they won't start to release the new currency until they received in most of the old currency. The only way I'll release my currency, and you too I would imagine, is after RV. I still believe this will happen soon so that the next step (collecting Dinar with three zeros) can begin.

Remember, as it has been written manytimes over and over, the raising of the zeros will not affect the value. Only the RV will affect the value. :bball:

hoopin,

The removal / retrieval of the three zero notes is one of the mechanisms that the CBI has used to control inflation. This process has been underway for well over two years.

If that were the case then those bills with 3 zeros would not be readily available in the market. I believe that they have been hammering out the details for a number of years for a process that may take a few years to complete. However, the only way to bring dinar with 3 zeros back into the hands of the GOI is to give those who have those bills a compelling reason to do so....read RV.

I'm sure you have a few 25k notes, are you going to send them back to the GOI without a decent return on investment? Or has anyone even asked for you to return them to the GOI at all?

I think the RV initiates the entire process; RV first, collection of dinar with 3 zeros over a two year process (mostly through cashin) second and then full release of lower demons which will probably start happening sometime next year.