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DINARESGURUS.BLOGSPOT.COM_________________ _______

Monday, September 10, 2012

SUMMARY OVERVIEW ABOUT THE PROJECT DELETE ZEROS IN IRAQ 2012, 11 SEPT


Some of the economists believe that Iraq is ready to delete those zeros from its currency dinar because it will be required for the stabilization of the political, economic, dinar exchange rate and security of the country.
According to CBI or the Central Bank of Iraq the attempt of deleting the zero and replacing the Currency of Iraq in the year 2013 is nothing but a fantasy. It has also added that the currency is to be substituted in a fresh financial year.
Mohammed Saleh, Central Bank’s Deputy Governor has given out a statement on press saying, “the draft about deleting the zeros and restructuring of the currency dinar is still in the state of proposal and is yet to be approved. The Finance Committee in the House of Representatives are discussing still about the right time of replacing the currency.”
He has also added that, “if the Council of ministers approves of it, only then, the deletion of the zeros and replacement of the new iraqi dinar currency will start form early 2014. As for the decision, the Council is not yet ready with their decision.” According to him, “the thought and talk about the replacement of the Iraqi Currency in the year 2013 is a pure fantasy.”
Saleh has pointed that, “currency replacement is a matter that should be in favor of the new financial system.” Along with that he has added that, “it is not possible for the Iraqi Government to introduce two different kinds of financial values cannot be recorded in the same year.”
Haitham al-Jubouri, the member of Finance Committee has announced on 15th May 2012 that, “in the month of January, 2013, deletion of three zeros and the replacement of the currency will be implemented and by September 2012, printing of all the new currencies belonging to different categories will start.”
The discussion hosted by Finance Committee on 26th June, 2012 with the deputy governor of the Central Bank Mohammed Saleh was for discussing the procedure which the bank will follow while deleting the zeros. There was also discussion about the time this process will take and the changes that can affect the currency exchange.
In an interview on 3rd July, 2012, member of the parliamentary Finance Committee Nagia Najib stated that in the next budget year of 2013 will also see the deletion of the zeros form the current currency. It was also said that the reluctance of the traders and the companies to trade with Iraqi Currency is the reason behind this project taken up by the Central Bank.
There is also the accusation that, on 12th September, 2011, the central bank has faced obstructions from the governmental bodies regarding the monetary reform. Not only that the authorities has been blamed for putting the financial interests of the country to danger.
According to one of the advisers of the Prime Minister of Economic Affairs on 25th august, 2011, deleting the zeros from the currency will be biggest form of corruption in Iraq. The statement has also said that the this attempt will come under the banner of tampering with the economic situation and the ‘Mafia Currency’ is ready to rig the Iraqi Dinars as soon as the change takes place.

Dinar Redenomination To Cost Iraq Billions, 11 SEPT


Dinar Redenomination To Cost Iraq Billions

Dinar Redenomination To Cost Iraq Billions
The process of scrapping old dinars and deleting zeros from Iraq’s currency to replace it with more manageable numbers could cost the country billions, according to Ahmed Faizullah, the deputy chairman of the Parliamentary Finance Committee.
Redenominating is up to Iraq’s central bank, but it would cause chaos for government by redenominating after it has set an annual budget in the existing denomination. That’s why no redenomination will take place in 2013 and maybe 2014 as well.
Removing zeroes makes it easier print money, read it and add it up, and reduces the need to cart around too many notes to pay for goods and services in a country that relies almost wholly on cash. Iraq puts just 1% of all its transactions on credit card.
Although cutting zeros adds to costs and confusion, Faizullah says: “It is basically the process of currency switching and common people will take some time to get used to it. That is all.”
As Fabil Nabi, Iraq’s deputy finance minister, helpfully confirmed for some confused, amateur currency investors, “eliminating zeros from Iraq’s currency will not increase the value of Iraqi dinars.”

SHASTA & DINARWISHES CHAT, 10 SEPT


shasta7: ok what is happening tonight... ??? Who has the HOT intel.... where is that BWM with the RV button!!! Sheeeesh!!!

Asells: shasta7 he must be fishing with it or something !!! :(

shasta7: Asells well get someone to tell him to stop playing around & push it... lol

shasta7: DinarWishes you need to go find BWM & tell him to bring back the RV button & stop fishing with it... (instead of a reel) lol

DinarWishes: Well Peeps Im gonna have to say it..... But, I tried to tell everyone that NOBODY knows when the RV will take place.... Not ME, Not anyone on any other site knows the true timing of the event.... I know everyone is in need of this event including myself.... If you recall I tryed to exspress a deep desire to have you make this your Plan B.... Use another Plan A to take care of you and yours..... PLEASE.... Could it be close??? Well being as we dont know the exact date its very possible it could be just around the corner.... But, then again people have been saying Today, Tonight, and Tommorrow for a couple years now..... It's all white noise to me..... Im not here to tell you when, Im just here to let you know it will.....

harpchedder: DinarWishes maybe the white noise is by design

sharpchedder: at this point it will definately be a surprise 
~PETERSMA: DinarWishes And that kind of caring is exactly why we're here. Keeping the faith that it will even if not knowing when allows us the knowledge that we are still fortunate to be part of this great event.

shasta7: DinarWishes now that is the most sensible post I've seen lately... & I totally agree 100%... Anyone who says they know is kidding themselves & not being truthful to the people... I personally think it has alot to do with timing & when the ptb are ready they will do it... well done DW...

shasta7: Something we do know for a fact... History has told us that the 3 KEY entities involved Politicians, Bankers, Media.... have always either lied outright... gave info that mis-led... or simply covered up the truth... The fact is that ALL the intel people get 99% of their intel from these same people.

  DinarWishes: Well peeps I wanted to stop by while I had some energy and say hi.... Also, that all the rumors about me cashing out are LIES!!!! Just thought you should know that too.... gn and God Bless America!!!

Asells: DinarWishes DinarWishes TY DW !!! hugs feel better !!! amen God Bless America !!!

robbinsmith: Do you know of anyone cashing out, lots of rumeors out there.

dietcokeandice: DinarWishes thank you for coming back feel better fast

DinarWishes: robbinsmith NOBODY HAS CASHED OUT!!!! PERIOD!

shasta7: The best way I see how you can follow along for the RV is to watch their ACTIONS & what they do.... don't get caught up on the emotional rollercoaster... that yo-yo ride isn't good for anyone... lol

DinarWishes: BE GOOD AND GO RV!!!!

MAILMAN CHAT, 10 SEPT


[mailman17] ON VACATION THIS WEEK
[stlou] aren't you always?

[mailman17] YES THATS TRUE LOU  AT HOME IF YOU NEED TO CALL
[stlou] did you see that the list has 3 names for defence minister?

[mailman17] YES BUT  HAVE SEEN IT BEFORE
[stlou] and that if they cannot get a consensus within their bloc, they will give them to maliki to pick one?

[mailman17] HMMMMM
[stlou] true  but.. remember, they hold the interrogation card  and

[mailman17] BUT HE MUST PICK FROM THE LIST...YES?
[stlou] yes but also..with the recent bombings you would think the UN and US are pushing him to get this under control..and quick  or syanara to Ch 7

[mailman17] SO NOW WE DETERMINE WHICH NAME MALIKI WILL HAVE INFLUENCE OVER...LOL'  BOMBINGS WILL ALWAYS BE THERE....THATS NOT A REAL CONCERN
  [stlou] hey MM..  why is Najafi meeting with the World Bank?

[mailman17]****....THERE WAS MORE VIOLENCE IN CHICAGO AND DETROIT AND LA FOR THAT MATTER THIS WEEKEND  LOU...I HAVE A THEORY...LOL

[stlou] wait..let me call you in 5 minutes.. I found something

[mailman17] THE ? IS WHY HIM AND NOT MALIKI OR EVEN SHABS SO HOW IS DS THIS MORNING? PLEASE CHIME IN AND SAY HI

[jesse888] hi

[mailman17] ITS MILLER TIME  HEY JESS

[tudor] hey 17, looking like Sept may be our month!

[mailman17] YES IT DOES BUT THE THING IS THIS

[tudor] I am ready for you and Med to give us bank details

[mailman17] BEFORE OR AFTER THOSE MEETINGS

[tudor] Med says after London on the 18-19th what's your take?

[arwen] Hi cdj mm17 tudor stlou and everyone else i may have missed

[mailman17] HEY

[arwen] So I am hopeful for september

[tudor] me too!

[tudor] but I also remember we are dealing with Iraq

[arwen] yeah that is true  but just maybe this time they will do the right thing

[tudor] me too!  but I also remember we are dealing with Iraq

[cdjsilver51] hey arwen

[arwen] yeah that is true  but just maybe this time they will do the right thing

[tudor] we can always hope

[arwen] I sure hope it does not go till end of year that is a long wait with all the indications of it being soon

[tudor] arwen, even if it does, we will be ready

[mailman17] IMO...TRULY DONT SEE IT GETTING OUT OF SEPT

[arwen] yes that is true that's what I like to hear MM17

[mailman17] WHY?

[Dons] i cant says s--n anymore so i say "in the very near future"

[mailman17] THERES A PUSH FROM THE WORLD BANK  THERES ALSO NOW  THE CBI PLAYING DUMB

[tudor] and some bank info

[mailman17] SHABS HAS HAD ENOUGH NO MORE SPEECHES AND I DOUBT WE EVEN HERE ANY RHETORIC FROM SLAEH\

[tudor] he has to be ready and just tired of their bull sh..t

[mailman17] AGREED

[tudor] agree

[arwen] yes we are as well

[mailman17] THE MINISTERS ARE BIG

[Dons] you betcha

[mailman17] BUT IS BIGGER IS THE HCL

[tudor] something we have been waiting for, and Shabs too

[tudor] IMO

[mailman17] THEY APPARENTLY WILL PROCEED WITH THE ALREADY PASSED 2007  REMEMBER

[mailman17] ITS NOT SO MUCH AS WHATS IN THE NEWS AS WHATS NOT

[tudor] hope they do and get it done. Seems Kurds are on board with the 13%

[mailman17] THEY WERE TUDOR  BUT   THE 2007 GIVES THEM THE 17%

[arwen] well then that is even better

[tudor] but wasnt that one change they were going to do?

[mailman17] WITH THE CENSUS THAT WAS TAKEN  YES  THEY WERE SATISFIED EITHER WAY

[tudor] and that is a good thing

[mailman17] BUT...THEY JUST MAY BE REWARDED WITH 17%  YES

[tudor] and I believe they should be  they have lots of the oil flow

[mailman17] ALSO KEEP IN MIND IRAQ FUTURE OUTPUT ESPECIALLY REGARDING THE KURDISTAN REGION WHICH IS A PIVOTAL KEY TO THE 2013 BUDGET

[tudor] yes it is

[mailman17] SHELL AND OTHERS NEED TO GET PAID  ALSO KEEP THAT IN MIND'  NOW GETTING TO THE 18 MEETING'  YES  THEY HAVE HAD THESE IN THE PAST  BUT AND A KEY BUT

[tudor] this one seems different

[mailman17] NEVER HAVE THEY FOLLOWED UP WITH ANOTHER IN GERMANY 3 DAYS LATER

[tudor] yes

[mailman17] YES IT DOES  THE EUROS TANKING

[tudor] its actually exciting!

[mailman17] PERIOD YES THE TIME IS NOW

[arwen] so what is the germany meeting for?

[mailman17] A FOLLOW UP FROM LONDON

[mailman17] IE

[mailman17] INVESTMENT   I REITERATE

[tudor] they kind of tie together

[mailman17] THEY HAVE HAD THESE BEFORE  YES

[Dinar Investor] I dont think they would have the meetings if they dont have anything to offer imho back to back

[mailman17] BUT NEVER SUCH A PUSH REGARDNG EUROPE

[tudor] maybe the before and after RV?

[mailman17] AGREED DI   POSSIBLE

[Dinar Investor] Especially with the UN and the World Bank on their tails

[mailman17] I JUST CANNOT SEE SHABS GOING INTO THIS WITHOUT ASSURANCES

[arwen] So how do you think the RV will be announced or will it just show up on the forex sites in kind of a stealth mode

[mailman17] ASSURANCES TO INVETMENT MEANING A TRADEABLE AND STEADY CURRENCY  NOW WITH THAT IN MIND  THE IMF IS RIGHT THERE  IF BY CHANCE THEY DONT COME OUT WITH AN RV BEFORE THOSE MEETINGS  WILL THEY AFTER

[tudor] Shabs may just walk in the door of the London meeting with the RV in hand

[mailman17] WITH BACKING FROM THE IMF

[tudor] IMF, imo, is backing Shabs all the way

[mailman17] AS LONG AS THOSE THERE....ARE SATISFIED  BY THE IMF NOT SO MUCH IRAQ AS WE ALL KNOW THEIR TRACK RECORD WILL THEY BE SATISFIED TO TAKE THE PLUNGE THEY ARE TUDOR...ALL THE WAY

[tudor] and the IMF will make sure the other countries back them too, imo without the IMF, they are toast

[mailman17] NOT SO MUCH BACK,,,,AS TO WHAT IT MEANS TO THEIR FOREIGN CURRENCY RESERVE

[tudor] exactly, the dinar will be a big jump for all concerned

[mailman17] YES..WITHOUT THEY AE A FORGONE CONCLUSION

[glk] Hi mailman !!

[mailman17] HEY

[rkpdwp] Mailman do you really believe it is going to happen this time

[tudor] but, the IMF has big cloat and the other countries are banking on the influx of the dinar RV to pull them up by their boot straps

[mailman17] YES  AS PLANNED

[tudor] yep

[mailman17] SINCE 2003 BUT I DO NOT THONK THOSE INVOLVED THOUGHT THEY WOULD BE ON THE SITUATION THEY ARE IN NOW

[rkpdwp] 2003 is when I got into this ride

[mailman17] GOD BLESS YA RK..

[Dinar Investor] wow

[tudor] funny how the economy is playing into the RV, and the need by so many

[mailman17] SO YOU GOT IN CHEAP?

[rkpdwp] very

[Dons] 2003 for us too

[mailman17] 2003?....AT 4000-1

[mailman17] YES?  OR CLOSE TO THAT?

[rkpdwp] I have bought a lot of dinar since then not so cheap

[mailman17] NICE...KUDOS  OK...GONNA RUN...BBL   LATER

[glk] Can I post this mailman, been a long timne

[mailman17] SURE

[tudor] thank you so much mm17, always enjoy your chats

[glk] thanks, enjoy your day off

[mailman17] NOT THAT LONG...LOL

[cdjsilver51] bye mailman have a good one.

[mailman17] I WILL BE BACK'

[arwen] bye mm17

[dream u may] thanks for your time--MM17

[Polarbear] bring back some wings

DINAR GURUS UPDATE, 10 SEPT

8-10-2012  Intel Guru Gary   We are seeing alot of action, activity but it's not bringing this thing to closure.  I can justify some of the delays, international setting & dynamics involving nations, got a healthy education about global funds, why are they being held off?   Is there something bigger going on that we're not aware of?   We are seeing positive movement.  I am hearing that we need to see this this week.


8-10-2012  Intel Guru Checkmate   There is controversy on the timeline.  Bottom line is we are still here.  This has been a plan to fix the monetary system long time ago. Iraq was not the first focus.  It doesn't make sense to delay this any further.

9-10-2012  Newshound Guru Enorrste  At one time we heard that up to 130 countries would revalue their currencies at the same time. For a short period I bought into this, until I thought it through. The simple fact is that many world currencies are already in a free floating mode.  If they are already at equilibrium among themselves, how would a "world reset of currencies" improve things? The answer is that it would not improve things. Having said that, however, there are other currencies, such as the dinar, that are not free floating. Therefore it would not surprise me to see several currencies revalue at the same time.  IMO, the Iraqi dinar will be held as a world reserve currency after the RV...it was expressed directly by Saleh himself...to make the dinar one of the strongest currencies in the world. They clearly have the resources, both in terms of reserves and in terms of underlying wealth, to achieve that goal, IMO.  [post 2 of 3...stay tuned]

9-10-2012  Intel Guru American Contractor    It is totally up to the Iraq government whether they will revalue their currency or Lop the currency. They do not have to revalue the Iraq dinar to pay for contracts as they pay their contracts in U.S. dollars. Being a cash driven country most transactions are done in U.S. dollars. The Iraq dinar is already a tradable currency within Iraq. You can exchange dinar at any Iraq bank for the major currencies of the world ie. usd, Australian, Euro etc. Providing that the Iraqi has coordinated the transactions with the CBI. However, most Iraqi’s and everyone in Iraq just exchange for U.S. dollars. Iraq does not have a “worthless” currency it is legal tender in Iraq only.

9-10-2012  Newshound Guru Breitling   I've been talking about the conflict between the CBI, Maliki's guys and the Finance Committee.  These guys can find anything that will hold it up, try to get more control. But, Shabibi has all of the cards, it's just a question of time.

9-10-2012  Newshound/Intel Guru BGG    Article:  "Criminal Court issued a death sentence against Hashemi and his chief"   The bad news is – if anything will derail this thing at the last minute, it’s this Al-Hashemi  conviction and sentencing. Maliki knows this, and he’s working his “poker buddies” over on the Federal Courts Bench.  They might keep Al-Hashemi safe and while they give Maliki a little of his own medicine??  It is my personal opinion – Maliki just convicted himself. Of note – this will be a very big story for a while (It was on Fox News last nite!!). Also of note – Interpol won’t touch this stupid warrant due to it’s highly suspicious political “stench”

9-10-2012  Newshound Guru Enorrste    First, the staging rate is not a precursor to the RV.   It IS the RV, after which the rate will rise on either a managed float or a free float until it reaches equilibrium. The CBI is on record that it will come out at "around a dollar." But it is also on record that it wants the value of the dinar to be at least what it was prior to Saddam' s regime, or $3.50.  I have consistently held the view that Iraq is a sovereign country and that they alone are in control of the timing and the rate of the RV. I have never found any credible evidence to the contrary.  I will say that Shabibi is in regular contact with the IMF, having worked for them 20 years ago, and he keeps them informed of his plans. I do not believe, though, that the IMF dictates to Shabibi in any way in terms of timing or the rate.  [post 1 of 3...stay tuned]

9-10-2012  Newshound/Intel Guru BGG   I find it most encouraging that our US delegation went from here to Iraq, then directly on to Germany to meet with Talibani. They are most interested in getting this moved on down the road. 

9-10-2012  Newshound Guru Vic1    All tha Think Al-Heshemi will be brought to the gallows...FORGET ABOUT IT!!!  He has Clout and is V/P of IRAQ!!! MUCH HIGHER Stand than MALIKI!!  Also, He Will and can be PARDONED! IF NEED BE.  The IMUNITY LAW is AVAIL, However, since Maliki is not seated his GOI Properly, HE is More in TROUBLE...remember he said on TV that he had files for 3 years!  SHAME, SHAME...Guilty by association?  

DAN & TONY POST, 10 SEPT


9-10-2012 Dan (PTR): We've all had some pretty strong thoughts in the past about the timing but the fact is we're all still here. If this thing doesn't happen really soon I don't see it happening to interfere with the election. If this goes past this week I don't see them revaluing to have anything to do with the election. Whoever the big people are that are holding this up are still holding it.

 I have been thinking toward a future date myself but my feelings are that if it goes past this week we could be waiting until after the election. It's either gotta be really or soon or maybe a month out. The nice thing about Dr. Todd is that what he said wasn't opinion the man lived a lot of the stuff he talked about.
  Is he the smartest guy in the industry? No. Is he one of the smartest guys we talk to? Yes. This has been a plan for decades, not just when the UN did what they did. This plan to fix the monetary system has been in the works for a long time. Since the very first moment its all been part of a bigger plan.

9-10-2012 Tony (PTR):
I don't see this going to the election from the information I'm getting. My rationalization is that the election doesn't mater at this point because there's not enough time for the numbers to have an effect or apply to this.

 That's all future things that would affect a future administration. People keep wanting to blame Obama for a global event even though he doesn't have control of everything. We have some contacts who thought it could have all been done on either Sept 1st (which has passed) or their secondary date which is coming up shortly.

9-10-2012 Gary (PTR): One of the big issues we have been addressing is what are we seeing evidence of. All the activity we've seen hasn't brought this to closure. The banks believe this is already here and should be done. They are just as frustrated as everyone else. So, why all the delays?

I can justify some of the delays because of the international settings but the global funds are real but they've been held off and my question is whether or not there's something bigger we're not aware of. Some think this may be held off until after the election so this may be a critical week.

BLUEKNIGHT, BREITLING, CARRELLO, MOUNTAINMAN & PHOENIX POST, 10 SEPT

[Blue Knight] Well here is todays short NBC news article that says what we already know . Well some of us know anyway. We may not see this RV until the GOI decides it is in their own interest to to do so.
 Roots in Iraq A major factor in the rise of the present struggle came when American troops invaded Iraq in 2003, thus pitting Sunnis against their rival Shiites, who many Sunnis think are effectively infidels who turned against Islamic leaders about 1,400 years ago and have been on the wrong side of Allah’s path since then. For decades, Saddam and his Sunni minority had imposed their will on Iraq, carrying on a 14-century tradition of Sunnis controlling Mesopotamia despite a Shiite majority. Not surprisingly, in most Sunni regions there has little appetite for free U.S.-sponsored elections. They knew they would end up being ruled by their enemies. And that’s what happened. Essentially, the lasting legacy of America’s involvement in Iraq is an Iranian-allied Shiite government that also happens to be one of the most corrupt on the planet. (Iran is the biggest and most powerful Shiite-majority nation.)


9-10-2012  Newshound Guru Breitling: I've been talking about the conflict between the CBI, Maliki's guys and the Finance Committee.  These guys can find anything that will hold it up, try to get more control. But, Shabibi has all of the cards, it's just a question of time.

9-10-2012 Carrello: Talabani in Iraq next week. "The Patriotic Union of Kurdistan (PUK) revealed on Monday that President Talabani will return to the country in a week. The German doctors supervising Jalal Talabani have identified another week as a date for the return of Talabani to the country. High demands of Kurdistan and Baghdad are coming up to the President on a daily basis demanding his return soon to Iraq to resolve the current crisis."


9-10-2012 Mountainman: All estimates are that the Ministers will finally be announced sometime during this week. The World Bank is pushing the CBI to follow through and do what's best for the country. Hashemi is not going to be executed because Turkey won't hand him over to Baghdad and Talabani doctors are saying that he's just about full recovered and will return soon.  Everything sure does look great and I think we're exactly where we need to be to see a big change soon.

9-10-2012 Phoenix3333: "The list will be a paper reforms during the meetings of the blocks. The Iraqi paper repair includes a set of demands, state institutions and the national reconciliation project and accountability, justice and approve the rules of procedure of the Council of Ministers and the designation of candidates for security ministries, noting that Iraqi will be this paper as soon as possible by holding meetings between the political blocs.

Central Bank postpone the deletion of zeros from the national currency, 10 SEPT

Central Bank postpone the deletion of zeros from the national currency

09/10/2012 12:00 am

BAGHDAD / future Iraqi
Female member of the Finance Committee MP Abdul Hussein al-Yasiri that the central bank lingered cause the deletion of zeros from the Iraqi currency, the large number of objections 


economists on this project. Yasiri said that "the deadline for the deletion of zeros from the 

Iraqi currency was agreed at the beginning of 2013, but the central bank declined and order 

process to time is unknown because of the objections of some economists of a possible 

collapse in the national currency "and added that" stop the media campaign regarding the 

removal of zeros to make the central bank to take the position of silence about the process,

 "calling" the Federal Government and the Ministry of Finance and the Central Bank to take 

a final position of the process of deleting zeros and determine given time to replace the 

currency to reduce fraud that has spread dramatically, "asserting that" the deletion of zeros 

from the currency will reduce the money supply and prevent Iraq from a country with a 

density and mass of large cash transactions in the market to block more credit and smaller. " 

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ENORRSTE & BGG POST, 10 SEPT

9-10-2012 Enorest: First, the staging rate is not a precursor to the RV. It IS the RV, after which the rate will rise on either a managed float or a free float until it reaches equilibrium. The CBI is on record that it will come out at "around a dollar." But it is also on record that it wants the value of the dinar to be at least what it was prior to Saddam' s regime, or $3.50. A lot of the "gurus" make claims that China and the US have been exerting influence on the process leading to the RV. Unfortunately in every single case they have been shown to be incorrect when the RV fails to come about in spite of some supposed action by the US or China, such as a visit by Biden, signing some new oil contracts, etc. I have consistently held the view that Iraq is a sovereign country and that they alone are in control of the timing and the rate of the RV. I have never found any credible evidence to the contrary. Having said that, however, I will say that Shabibi is in regular contact with the IMF, having worked for them 20 years ago, and he keeps them informed of his plans. I do not believe, though, that the IMF dictates to Shabibi in any way in terms of timing or the rate. If, as stated by the CBI, they raise the value of the dinar to about $1 then there will be about $7 trillion worth of dinars outside Iraq, give or take a few trillion (!) that must be accounted for. KAP and I have stated, based on CBI articles that the intention of Iraq is to make its currency a world reserve currency "for a long time" as Saleh has stated. How will this happen? When we cash in, either through a facilitator or directly at our bank, we are credited with funds in dollars in deposits. Because of this action the effective money supply of the US will increase by that amount of deposits. Furthermore, it is possible that the money supply could increase up to 8 times more as the banks use the deposits to lend even more money, thereby creating more money through the "fractional reserve" system. Our dinars go to the central banks around the country and eventually to the FED's control (although probably to the UST).
In addition, the taxes we pay on the gain will go directly to the UST. In either case, the funds ultimately go under the control of the FED, which is the last resort for foreign currency in America. Once it arrives there it becomes part of our foreign reserves, as Saleh has stated it would. This will strengthen our foreign reserve position dramatically. At the same time the taxes that go to the UST will directly strengthen the holdings of the government. In theory the taxes could be used to reduce the debt.


9-10-2012  Newshound/Intel Guru BGG 
 I find it most encouraging that our US delegation went from here to Iraq, then directly on to Germany to meet with Talibani. They are most interested in getting this moved on down the road.
 

Parliamentary Finance: we do not receive the draft budget 2013 and the deletion of zeros will not confuse the economy , 10 sept

Parliamentary Finance: we do not receive the draft budget 2013 and the deletion of zeros will not confuse the economy 



Parliamentary Finance Committee confirmed not received a draft budget that next year from the government. 


The deputy chairman of the Committee Ahmed Faizullah that "allocations Supreme Judicial Council as well as other ministries are identified through meeting them and agree on those customizations," adding that "the budget is based on the actual needs of the annual institutions." And on the deletion of zeros from the local currency Male iceberg God that "the deletion of zeros will not create a problem economic, financial or monetary and some inflate Thread dramatically it's just the process of switching the currency which belong to all Iraqis and it may take time to get used to people about it." and "The printing of the new currency cost amounts billions Is the government ready to bear the costs because we must be calculated financial cooperation with the central bank needs from the currency because the Iraqi economy is based on the Cache and this is sound because any financial system developed for Aataaml is that instruments and credit cards to ratio of 1 percent of transactions in Iraq. "and stressed Faizullah the need not to "make way either currency manipulators who take advantage of the currency switch."

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