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Monday, March 18, 2013

DISCUSSION OF KAPERONI, 18 MARCH


Parliamentary Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons

March 16, 2013

The parliamentary Finance Committee renewed no objection on the implementation of the project to delete the zeros from the current currency trading to reduce the numbers and shorten computational transactions, and demanded the application of some of the items and add them to the new law.  FULL ARTICLE & LINK BELOW

 
CARRELLO:  Kap, please set me straight if I am incorrect, but as I read the Arabish, by dropping the zeroes, the paragraph below sounds like they are going 1:1, and implementing the accounting conversation law you have talked about.

 "The Commission has proposed opening for change and trading dual both currencies order to allow citizens to end their financial transactions related with the private and public sectors and to prevent confusion on legal debts among citizens."
BLUEYESINLEVIS:  "trading dual both currencies order to allow citizens to end their financial transactions"

-Does this mean the IQD and USD to be used side by side for some time?

-The LOPsters expect dual currancies to mean the old currency has the old value and the new currency has the new value. I bet LOPsters gonna have a field day with this one.

-I am on record stating that I believe Kap has disproven the LOP.

"Finance Committee renewed no objection on the implementation of the project to delete the zeros from the current currency trading to reduce the numbers and shorten computational transactions, and demanded the application of some of the items and add them to the new law. "

-Add them to WHAT new law?

TLAR:  This article references that there must be a revised law before they drop the zeros.  Anyone have any ideas as to what  law they are referencing?  One paragraph references a change in the paragraphs to an existing law. 

Maybe this is the Draft to Print Law Shabibi worked on.  I think this article is again insinuating that they will drop the zeros as the first step probably followed by a controlled float.  It looks like they are back to the original plan to me, meaning they will hold and defend the new rate for a period of time, at least until they get comfortable that its holding enough to let it free float.  

This looks like the original plan based on the study from 2008, if this is what they do and I think it is.  Drop the zeros and go to a controlled float as they have now at 1166, and prior to that at 1170. .

CARRELLO:  "...The Finance Committee announced no objection since the beginning put forward the idea of ​​the project is still, but it required the inclusion of some new paragraphs of the draft resolution...

Sounds as if they are writing a  new law(s) and are including details.

"...central bank enactment of a law debts public which protects the creditor and the debtor in the event of changed currency and issue instructions procedural in this regard..

This sounds like the law that would automatically convert prior financial agreements to the new rate. This has been one of Kap's abolutes for a long time.  If you owe 1,000,000 on a car loan, the loan would automatically be converted by law to the new amount of 1,000.

"...as well as the introduction of major currencies up to 100 thousand dinars viable for large transactions..."

This says to me they are introducing the new bills as well as one big boy.

PUNISHER:  That could be a 1 to 1...one dinar equals one usd :)

LEWIS There is a contradiction here, because why would you want to delete the zeros and at the same time put 100k dinar bill in circulation. It doesn't make sense.

TERRY:  Carrello, I think that your theory is most likely correct. In orange it states" to prevent confusion on legal debts".  As you say, this is one law that Kap has always said needs to be enacted!! Also where it says" trading dual currencies" imo means trading the 2003 current dinar and the new lower denoms simultaneously.

BLUEYESINLEVIS:  It seems crazy. but they are preparing for a modern banking sysytem with a LOT of money to be changed back and forth. If they are going to print 100,000 notes.. that would be primarily for interbanking use.. I think.

Just like we can not get 1,000 USD notes.. they are for interbank use only.. I guess Iraq is preparing for a boatlaod of economic activity... if this is what comes to pass

And I am still curious .. just like Tlar.. What law are they referring to? Is there a new law needed for the zeros project? I was under the impression that the CBi was good to go on this from back when SHabibi was hands o

TLAR:  Lewis, the 1000k note will not be used in the Iraqi streets.  It will be used in international trade only as a currency payment between countries..  The US also has a 100k note as will as a 50k note and a 10k note and a 5k notes and a 1k note and a 500 dollar bill.

 The notes up to the 10k notes are generally found in collectors hand.  For obvious reasons they cannot be used in the markets in the US but they are legal tender.  I personally have sold a 10k note, a 5k note, a 1k note and a 500 dollar bill.  They rare but they do exist.  By the way the 10,000 note sold for 30,000 dollars. 

Very, very, few 100k and 50k notes are in collectors hands, again for obvious reasons and the premium on them means you better be very rich to own one..

BLUEYESINLEVIS:  Yes.. I just recently saw a few 500 dollar bills at the gun show... The cheapest one had a story.. they guy said he got it in Vegas...and the old mob guys used to carry them all the time..and this one had a blood stain on it.. from a shooting...I was like.. "Uhh.. ok."  LOL the 500's go for around 750 to 900 dollars..the guy with the 1,000 bill wanted like 1,750 for it.. IIRC.

Tlar they are good currency.. at a bank they are worth face value.. but no one woud be dumb enough to use one at a bank for face value.. and if they did I believe the banks are required to retire the note or somehow "remove it" from circulation.

TLAR:  Blue, the banks are not required to retire the note but I can assure you within one minute of any note 500 or above that shows up in a bank, someone who works for the bank would buy the note as an investment. 

Virtually no notes ever go back to the Federal Reserve because anybody that knows anything about numismatics (coin collecting) knows they bring a big premium depending on condition. 

They are legal tender but if you were to walk into a 7/11 and by a pack of gum and hand the guy a $5000 note, he could not make change.  Although they are legal tender, they are impracticle to use in day to day transactions.  They are in collectors hands only and as I said, they sell between collectors based on condition at many times their face value.

KAPERONI    The reference to 100k note is simply stating "buying power" in other words the note will be 100 dinars if the exchange rate is 1 to $1.  They are not printing a 100k note.

Its rather fun to sit back and say nothing and watch everyone scatter with a new article.  We discussed all this months ago and there is nothing in this article we have not discussed and explained.  Tlar, I am pretty sure the law you are talking about was an old law that Saddam had regarding Iraqi printing companies.  That law was passed a few months ago to sever the relationship with the CBI.

Blueyes, the reference to both currencies is not USD and dinar but 3 zeros dinar and new lower denominations coexisting for up to two years.   The USD will remove itself as the dinar rises.

IMO, this is just talk from finance committee member Abdul Hussein al-Yasiri.  It is not the current direction of the CBI.   And until we hear it from the CBI we should be very cautious.

The CBI has stated clearly that there would be a time limit on the old dinar (either up to 2 years or 10 years).  Therefore, I dont see Iraq's or collectors holding on these notes.  The profit is greater to cash in the dinar and let them be destroyed by the CBI rather than be able to get a few bucks for them as obsolete collectables.

TLAR:  Kap,  I don't think these bills will be distributed in Iraq for citizen use.  I think they will coincide with the raising of the rate meaning if the value comes out at one to one lets say, they will be worth 100,000 dollars right out of the shoot. 

Any reference to them being distributed for general use on the Iraqi street is intentional, meant to confuse speculators.  They would not introduce this note without a 50,000 note if they intended it to be used IMO. 

To make change for the 100,000, assuming they continue to pull the 000 notes, will shortly have to be made from 1000 note down.  In and of itself that is impractical. 

If someone tried to use this note to buy something lets say for 20,000 dinars, they would need to get 80,000 dinars back.  Assuming they have pulled all the 000 notes above the 1000 note means they would have to receive back 80 pieces of paper in 10,000 dinar notes. 

It does not make sense unless it is strictly to be used as a currency to pay balance of payments in a post RV situation.  Another thing.  If Iraq intended this note for general use in the Iraqi streets then they should be reprinting and redistributing the 25,000, the 10,000 and the 5000 notes to be able to make change for this bill.  I can't see a scenario where this bill is meant to be in general circulation in Iraq.

KAPERONI: They are not printing a 100,000 bill.  Period.  They have 25k for interbank transfers.  These references are simply to refer to buying power so the Iraqis understand.

TLAR:  Kap, there has been at least 4 articles that I can remember referencing the printing of a 100,000 note.  I too think its stupid but certainly not out of the question.  I was answering a Lewis post that it is not something anybody should worry about even it it is printed. 

It makes no sense for general use in Iraq but possibly could be used for balance of payments until Iraq's banking system is totally brought into the 21st century.

 Fast Eddie, I do not think deleting the zeros refers at all to the removal of the three zero notes.  They have been removing these notes since April 2011.  How can you "postpone" something you have been doing for 2 years and are continuing to do today while they say they have postponed it..  To me, removal of the zeros relates to removing the zeros from the nominal exchange rate and has all the way through.  Not removing the physical 3 zero notes. 

Punisher:  I agree Tlar when you said I do not think deleting the zeros refers at all to the removal of the three zero notes. They have been removing these notes since April 2011.

How can you "postpone" something you have been doing for 2 years and are continuing to do while they say they have postponed it.. To me, removal of the zeros relates to removing the zeros from the nominal exchange rate and has all the way through. Not removing the physical 3 zero notes.

KAPERONI:  The references in the past, no matter how many times it was in print was only a reference to "purchasing power" so the Iraqi's understand.  There is no 100k note nor will there ever be one.

ENORRSTE:   KAP just called me and we discussed this article in some detail.  Here is our take on this article:

First, the Parliamentary Committee is saying that it has no object to the project of deleting the large notes (three zeros).  This is not new.  It is also not saying that they are going to act on it until they get the "green light" from Maliki (who is still the holdup).

Second, they refer clearly to "dual both currencies" which means that both the curren IQD and the new dinar currency will co-exist for at least some period of time.  Again, this is not new.  In fact the Parliamentary Committee has said that they will not begin removing the large denom notes until 2014.  This would suggest, then, that the change to a new currency would occur sometime before 2014, right?

Third, there is a reference to a law that NEEDS TO BE enacted but has not been enacted yet, although Shabibi had said months ago that this law would be necessary before any change in currency could begin. 

That law has to do with the "rules" for handling debt transactions.  For instance, if I borrow 25000 dinars from you today, and then they change the currency, what will I owe you in terms of the new currency?

 This is the problem, in a nut shell, because they clearly indicate that "dual both currencies" will co-exist.  Now, if we are assuming a free float, then both currencies, old and new, will go up at the same time in value.

Therefore, theoretically, I could pay back my debt in either currency.  HOWEVER, as the VALUE of the currency rises then a problem also arises.  If I borrowed 25000 dinars (worth $21) and the VALUE of the dinar rises to $1 per dinar, then do I owe you $25000?  Of course not!

So, the law must be enacted in order to clarify debt to debtor transactions, both public and private, so that NEITHER SIDE benefits at the expense of the other.

This can be done, in my opnion, by using the dollar as the benchmark for the old debts.  In other words, if I borrowed 25000 dinars worth $21 in the old currency, then I will REPAY $21 worth of the new currency, whatever value each note has. 

If it is $1 per dinar, then I would owe you 21 dinars in new currency.  If it was $3 per dinar, would only owe you 7 dinars.

This article is very important in that it brings to the surface now the essence of the final problems prior to freely floating the currency.  I suspect that I will have to call Turki and tell him to use the dollar as the "basis value" on old debts so that we can get this ball rolling !  LOL    Enorrste

JOEG:  As Kap and Steve said, nothing new.  But it's encouraging that we see a new article about the need for the contract/administration law.  It's been many months since that subject was discussed as a requirement before implementation (it seemed to fade away in terms of the board's interest level), but now maybe it's coming back into the spotlight. 

This raised my hopium level a bit, but I'm still not doing the chicken dance yet.  Obviously, I want this to occur ASAP like everybody else, but, frankly, it's okay if it happens 6 or 12 monhs from now, as long as it happens someday (well someday before I drop dead). 

This article is one of the few that actually raised my hopium level.  And thanks for the yellow/orange highlights---love those highlights!

CARRELLO:  For anyone that remembers back over a year, the law that we are talking about is something that was said would be a stealth action. 

We probably would not know about it until after it happened and the currency change would happen within moments.  It was said this would be a huge tip off of the action we have been waiting for, and it would be kept quiet because of speculators.

FULL ARTICLE & LINK:

Parliamentary Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons

March 16, 2013

The parliamentary Finance Committee renewed no objection on the implementation of the project to delete the zeros from the current currency trading to reduce the numbers and shorten computational transactions, and demanded the application of some of the items and add them to the new law.  FULL ARTICLE & LINK BELOW

A member of the parliamentary Finance Committee Abdul Hussein al-Yasiri in an exclusive statement (statement): The Finance Committee announced no objection since the beginning put forward the idea of the project is still,

 but it required the inclusion of some new paragraphs of the draft resolution, which believes the government represented by the Ministry of Finance, and sectors and citizens not the occurrence of any losses and spare the citizens and banks any breaches get through counterfeiting of the new currency,

especially that costs would be prohibitive for both the citizen and the bank and not to repeat what happened at the last change after the fall of the former regime and its currency earlier.

added Yasiri The Commission has proposed opening for change and trading dual both currencies order to allow citizens to end their financial transactions related with the private and public sectors and to prevent confusion on legal debts among citizens.

He said the members of the Finance Committee expressed their willingness to respond to claims the central bank enactment of a law debts public which protects the creditor and the debtor in the event of changed currency and issue instructions procedural in this regard.

And that the said project is one of the most important projects emerging Iraqi economy as reduces the volume and numbers calculations used in Banking and consumes time and effort,

as well as re-Iraqi currency to its normal size as the currency current unfit for citizen not designed to be carried pocket due to the size of rolling them,

as the strategic central bank to reduce the size of rolling units cash than 4 billion units to one billion Unit is very good as well as the introduction of major currencies up to 100 thousand dinars viable for large transactions.

However, but the fears that delayed work on the project is the fear of currency counterfeiting and the consequent problems besetting the national economy at the current stage requires finding protection for the new campaign and intensify the role of economic security and the security forces in general to prosecute counterfeiters and Menthazee opportunities.   ARTICLE LINK

OKIEOILMAN UPDATE, 18 MARCH

[okieoilman] good monday afternoon america, ship's at sea and all our world wide friends. I sincerly want to thank all of you from whichever site you attend for the outpouring of condolence and the prayer's you have offered me and my family. Today has been a day that started out with jubliation and later turned to tradgedy. I have never experienced such an emotional high and then such a low as today. Part of my heart died today. I would never have thought that i would have to bury 1 of my children. I alway's assumed the children would have the burden of burying the parent's. I feel that stacy is now in heaven with our savior---that is my prayer. Only god know's how much your prayers is sustaining me at this very moment. I will never be able to re-pay you in any other manner other than returning the heart felt prayer's you have offered me. That is much more worth to me than any financial blessing we are expecting soon. I am usually never got for word's--but today i can't express enough my love for each of you and pray my heavenly father will reward you richly for your kindness to me. I promise to try to be worthy of your prayer's and support. Please, please, please call immediately your family members that you may have not spoken with a while and simply tell them how much you love them, who know's --it may the last time you will have to tell them-???. i am no matter what still be available to make the post i am authorized to do. Maybe that will be a partial way of saying thank you to all of you----my family.

EAGLE1 & BLUESTAR UPDATE, 18 MARCH


BLUESTAR :There is astonishing news on the global financial front today: Under pressure from Germany, the government of the nation of Cyprus has looted all the bank accounts of private citizens, stealing as much as 10% of their current deposits to bail out globalist banks.

This is the most outrageous act of outright bankster theft yet witnessed in history, and it could set off a chain reaction that has huge ramifications in the USA and around the world.

http://www.naturalnews.com/039522_Cyprus_government_looting_bank_accounts.html

Cyprus government's 'great bank robbery' of private accounts may set off bank runs across Europe

http://www.naturalnews.com/039523_Cyprus_bank_robbery_runs.html


Eagle1:  Good post, Bluestar!  I learned of this on Friday. This is precisely what is planned when the USD devalues. What I've learned thus far is that the current administration will seize anywhere from 40 - 50% of the monies in retirement accounts, pension funds, IRA's, 401K's, checking and savings accounts, stock and bond accounts, mutual funds, etc. as part of the USD reset in order to pay off (or down!) our national debt.
According to my intel, this is slated to take place on or about June 1. My counsel to folks is that they get out of their cash positions, invest in precious metals (preferably the hard gold or silver coins) or gold or silver stocks, or other currencies such as the Dong or Rupiah (or even the Israeli Shekel) that are due to increase significantly in value. Another option is to invest in real estate. Whatever people do, they should be debt free: no mortgage, no auto loan, no credit card debt, no bank loans, etc. With the IQD revaluing, it is important not to cash in any more than you need to pay off your debts. The government can't take what you don't have in your bank accounts or various investments.

I also strongly recommend that you invest in staples for your pantry. Unless I'm mistaken, we're going to see a period of extreme civil unrest here in the U.S. when this takes place. Those who are forewarned can be forearmed and weather the months of chaos easily. Once the USD devalues and we are on the new asset-backed dollar, things will eventually settle back to an even keel and we will see a much more stable economy than we've known in the last few years.

If what I've heard and learned is anywhere near accurate, we will see more evidence of events similar to the Cyprus confiscation with other countries as a precursor to what will take place here in the U.S.

We have time to plan and take appropriate action. This is no time to panic, but it is also no time to dawdle. Pay attention, folks, to what is happening with other countries!

Blessings on you.   Eagle1

BLUESTAR » March 18th, 2013, EAGLE...YOU ARE TRULY AWWWWWWWWWWWWWWWESSSSSSSSSSSSSSSSSSSSSSOMMME!!!!!!

I knew this when I first spoke with you and you told me of your plans on how to help others post RV.

Thank you for your continuing education series for all of us on post RV planning and currency watch.

GOD BLESS YOU AND YOUR POST RV WORK!
Bluestar

PS If I could, I would like to add this from a Natural News letter already referenced..
How to protect yourself from government theft

As Cyprus clearly demonstrates, we are now entering the era of runaway government theft of private bank accounts. This is a warning sign of deep desperation, and it's a sign of things to come across the globe. The global debt pyramid is a fictional construct built on a house of cards, and it's going to come crashing down in a violent, desperate implosion that impacts every nation on the planet.

How can you protect yourself from this theft? Trade dollars for REAL things now, while you still can. Here's my list of real assets that are far more valuable than dollars, Euros or any other currency:

• Farm land with good topsoil and multiple water supplies (more valuable than gold!)
• Heirloom seeds
• Physical gold and silver (not held in a bank, obviously)
• Farm equipment such as tractors and farm implements
• Firearms and ammunition
• Home food production systems (aquaponics) - see these websites:
http://theaquaponicsource.com (has an awesome online course)

http://www.backyardaquaponics.com


Learn more: 
http://www.naturalnews.com/039522_Cyprus_government_looting_bank_accounts.html#ixzz2NsFVT881

ARE YOU PAYING ATTENTION?, 18 MARCH


Ironman : ARE YOU PAYING ATTENTION?

I don't post often.  I much prefer to let those in charge simply do their job and watch as things unfold.

I am not a fear-monger or a doom sayer, I just watch the big picture, parts of which just became a bit more uncertain in ways that will cause some of us to rethink our post RV plans.

So you are expecting to have a nice big  fat bank account after your currency exchange and were counting on the Dodd-Frank legislation to insure it?  Well, as you know, we've been waiting so long that that not only has that expired, but governments are now outright stealing your money - directly from your bank accounts.

You have heard of what transpired in Cyprus in the past few days right?  After all, you ARE paying attention to more than just the IQD.....
  The legal precedent set by this bailout and the subsequent raid on depositors accounts does not bode well for any nation if the IMF can be used as the lever to pry into your privacy and simply 'take' your money. 

Some experts say that this is not a done deal yet until the Cypriot Parliment ratifies it, but the good people of that nation certainly fear it is a reality and are trying desperately to get their money out.

Another brick through the rose colored picture window you've been staring out of is who many of the large depositors have been/are in Cyprus; ex KGB and Russian mafia.  Cyprus has long been a laundering center for eastern European drug money and a front for weapons trafficking

So when eighty+ percent of the large depositors are the kind of people you just-don't-steal-from, and the government goes in and helps themselves to nearly ten percent of EVERYTHING, what might be the outcome?

Cash laying around is not being used wisely, and most investors know the trick is to maintain a proximity to liquidity and still make a profit without putting your cashflow at risk or tying it up for to long a period. 

So if governments are helping themselves to the cash in your bank account where is the nearest safe haven?  Precious metals, which have always been used as a hedge in economic hard times and  is where some of us plan to park a portion of our new wealth.  Let's tie in the recent events.

Perhaps the most recognised former KGB official is Russian President Vladomir Putin.  Others are not in the public eye, some of whom are downright scary. What some market watchers are beginning to wisper about is that in retribution for the theft of their money in Cyprus, these financially savvy 'entrepreneurs'  may decide to buy heavily into the metals markets and drive up the prices beyond what can be controlled by the current system. 

Yes, I said controlled;  it is plain to see that the price of gold and silver at least have been managed for nearly ten years and are not simply market driven.  You can watch the manipulation since the trend really started moving a few months after  Basel II was penned in June of 2004. 

When I bought my first gold coin in 1985 it cost about$265.00 and remained about that mark until early in 2003 but the same coin's cost has banged on the door of $1700.00 recently.  You can check Kitco for a current spot price.

So what?  Who cares if some rich guys buy a bunch of gold?  Most people understand that high demand drives prices up, but those same people have'nt noticed that the market price for gold has remained fairly static for a prolonged period despite the feverish buying by governments around the world especially China, India, Brazil, and Russia - the BRICs countries.

 No one seems to notice that Syria is quietly buying, or that Vietnam has even asked its citizens to turn in their jewelry and family heirlooms to be melted down and added to the wealth of their nation.

 Now throw in a rogue bunch of mega-wealthy businessmen, at least on par with Trump and Buffet, who may follow George Soros' lead to buy then dump huge amounts of metals...which the experts fear may cause a sudden jump in gold price, some say over $5000.00/oz. 

How will that affect the value of currencies for those countries trying to return to an asset backed system? How might that affect other commodities prices; grains,oil, steel...

So, continue to pay attention.  There is so much going on out there besides the RV of the IQD and it is all inter-related.  You must build in some flexibility to your plans and be ready to move quickly.

Most informed people are certain that this is a global reset, and most currencies will be involved either gaining or loosing in value.  Throw in some added uncertainty in the precious metals markets and there will be tremendous opportunity to grow your portfolios.

Just be as informed as you can be and make decisions that you can live with.

DINAR GURUS UPDATE, 18 MARCH

3-18-2013  Intel/Newshound Guru Poppy3    IT APEERS MEETING BEING HELD ARE POSITIVE FOR ALL US INVESTORS. I ANCIOUSLY AWAIT THE RESULTS OF FINDINGS FROM THE UNSC . TWO DATE(S) TO PAY ATTENTION TO ARE THE 21ST AND THE 28TH OF THIS MONTH FOR HOPEFULLY GREAT NEWS ON PROGRESSPOPPY3

3-18-2013  Intel Guru TerryK    I HAVE TALKED TO LEADING SOURCES AND THEY DO NOT KNOW WHAT HAPPENED WITH OUR INVESTMENT LAST NIGHT AS IT SHOULD HAVE HAPPENED, ALL I'M HEARING THIS MORNING IS THAT CHINA IS HOLDING THINGS UP, TRYING TO BUST DOWN THE EURO TO MAKE IT LOOK LIKE ITS NOT HAPPENING...THAT'S WHAT I WAS TOLD.  I THINK IT'S ALL SMOKE BEFORE THE STORM.

3-18-2013  Newshound Guru Enorrste  So, the law must be enacted in order to clarify debt to debtor transactions, both public and private, so that NEITHER SIDE benefits at the expense of the other.  This can be done, in my opinion, by using the dollar as the benchmark for the old debts.  In other words, if I borrowed 25000 dinars worth $21 in the old currency, then I will REPAY $21 worth of the new currency, whatever value each note has.  If it is $1 per dinar, then I would owe you 21 dinars in new currency.  If it was $3 per dinar, would only owe you 7 dinars.  This article is very important in that it brings to the surface now the essence of the final problems prior to freely floating the currency.   [post 3 of 3]

3-18-2013  Newshound Guru Enorrste   Third, there is a reference to a law that NEEDS TO BE enacted but has not been enacted yet, although Shabibi had said months ago that this law would be necessary before any change in currency could begin.  That law has to do with the "rules" for handling debt transactions.  For instance, if I borrow 25000 dinars from you today, and then they change the currency, what will I owe you in terms of the new currency?  This is the problem, in a nut shell, because they clearly indicate that "dual both currencies" will co-exist.  Now, if we are assuming a free float, then both currencies, old and new, will go up at the same time in value.  Therefore, theoretically, I could pay back my debt in either currency.  HOWEVER, as the VALUE of the currency rises then a problem also arises.  If I borrowed 25000 dinars (worth $21) and the VALUE of the dinar rises to $1 per dinar, then do I owe you $25000?  Of course not!  [post 2 of 3....stay tuned]

3-18-2013  Newshound Guru Enorrste   Article:  "Parliamentary Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons"  First, the Parliamentary Committee is saying that it has no object to the project of deleting the large notes (three zeros).  This is not new.  It is also not saying that they are going to act on it until they get the "green light" from Maliki (who is still the holdup).  Second, they refer clearly to "dual both currencies" which means that both the current IQD and the new dinar currency will co-exist for at least some period of time.  Again, this is not new.  In fact the Parliamentary Committee has said that they will not begin removing the large denom notes until 2014.  This would suggest, then, that the change to a new currency would occur sometime before 2014, right?

ENORRSTE UPDATE, 18 MARCH

3-18-13 Enorrste: Article: "Parliamentary Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons" First, the Parliamentary Committee is saying that it has no object to the project of deleting the large notes (three zeros). This is not new. It is also not saying that they are going to act on it until they get the "green light" from Maliki (who is still the holdup). Second, they refer clearly to "dual both currencies" which means that both the current IQD and the new dinar currency will co-exist for at least some period of time. Again, this is not new. In fact the Parliamentary Committee has said that they will not begin removing the large denom notes until 2014. This would suggest, then, that the change to a new currency would occur sometime before 2014, right?

Third, there is a reference to a law that NEEDS TO BE enacted but has not been enacted yet, although Shabibi had said months ago that this law would be necessary before any change in currency could begin. That law has to do with the "rules" for handling debt transactions. For instance, if I borrow 25000 dinars from you today, and then they change the currency, what will I owe you in terms of the new currency? This is the problem, in a nut shell, because they clearly indicate that "dual both currencies" will co-exist. Now, if we are assuming a free float, then both currencies, old and new, will go up at the same time in value. Therefore, theoretically, I could pay back my debt in either currency. HOWEVER, as the VALUE of the currency rises then a problem also arises. If I borrowed 25000 dinars (worth $21) and the VALUE of the dinar rises to $1 per dinar, then do I owe you $25000? Of course not!

So, the law must be enacted in order to clarify debt to debtor transactions, both public and private, so that NEITHER SIDE benefits at the expense of the other. This can be done, in my opinion, by using the dollar as the benchmark for the old debts. In other words, if I borrowed 25000 dinars worth $21 in the old currency, then I will REPAY $21 worth of the new currency, whatever value each note has. If it is $1 per dinar, then I would owe you 21 dinars in new currency. If it was $3 per dinar, would only owe you 7 dinars. This article is very important in that it brings to the surface now the essence of the final problems prior to freely floating the currency.

Words of Condolence and Encouragement from DebTarHeelgirl Today, 18 march

We extend our deepest sympathies to OkieOilMan and his family on the sudden death of his son last night.  Continue to keep his family in your prayers this week as they go through this family transition.  


I just spoke to Okie  = His message to each of you states words fall short for his gratitude to each of you for prayers and support toward him and his family during this sudden time of loss. 

Okie, On behalf of everyone in the "Dinarland Family", our hearts are with you in this time of sorrow. Please accept our heartfelt condolences on the loss of your loved one.

  “Lean on, trust in, and be confident in the Lord with all your heart and mind and do not rely on your own insight or understanding. In all your ways know, recognize, and acknowledge Him, and He will direct and make straight and plain your paths"....Proverbs 3:5-6 The Amplified Bible
TODAY WILL BE A GOOD DAY - Repeat after me, TODAY WILL BE A GOOD DAY!!!!

Four encouraging, faith-filled, faith-building, words for Christians who find themselves in doubt or fear are,“And it came to pass.” Although fairy tales often begin with these words, think of the meaning. “It,” could mean anything causing pain or discomfort. “Came to pass,” states the reason for “it.” Whatever you face, doubt or worry that this RV seems to never going to show, that doubt did not come to stay in your life, “it too shall come to pass.”

Knowing that “faith” comes by hearing the Word of God, it is vitally significant to get God’s opinion about your life and future. GO TO THE WORD FOR HOPE! Just don't dwell on the not haves and the fact that it's another day to wait. TRUST so encouragement can be your vehicle to get through. 

Encouragement is the result of feeding on the faith filled, faith building Word of God. Feed your spirit on His Word and you will always know any doubt or fear that comes in your life did not “come to stay,” it “came to pass!” Repeat it often and you will witness adversity exit from your life. Stay blessed in your journey as it's about to change as desired. 

Till it shows up, lets carry on about our life giving affairs - spend more time with family and your responsibilities than following this dinar journey.  Get some financial plans in order, clean out your desk, closets and things in preparation for a "new beginning" having a fresh start in your personal affairs. HANG ON MY SPECIAL PEEPS - THIS CURRENCY EXCHANGE, IT WILL SURELY COME even tho it tarries, IT WILL SURELY COME. Again take charge of the time before you and dive back into GOD and your personal life.  Your joy will return, I promise!

“See I am doing a new thing. Now it springs up, do you not perceive it?” -Isaiah 43:19



Message/Post from Sambo at OOM&F
ATTN ALL: TRAGEDY HAS STRUCK THE OOM FAMILY - YES IT IS TRUE OKIE'S SON HAS PASSED AWAY - THERE ARE NO DETAILS - PLEASE KEEP OKIE IN YOUR PRAYERS - OUT OF RESPECT FOR OKIE AND HIS FAMILY - PLEASE RESPECT HIS PRIVACY AS GOD HELPS HIM THROUGH THIS TERRIBLE TRAGEDY - DO NOT CALL -

THIS DAY IS NOW A DAY OF PRAYERS IN THE OOM ROOM - EXTEND YOUR PRAYERS & CONDOLENSES TO OKIE AND HIS FAMILY THERE - WE WILL SEND OKIE A COPY OF THE CHAT LOG TOMORROW -

THANK YOU FOR YOUR PRAYERS FOR OKIE

SAMBO & THE OOM TEAM 


Parliamentary Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons, 18 MARCH

Parliamentary Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons

Author: Al Bayan wrote: March 17, 2013 : First
Baghdad / Ahmed Sadiq
Renewed parliamentary Finance Committee no objection on the implementation of the project to delete the zeros of the current currency to reduce the numbers  of tradingand shorten transaction calculations ,conditioned the application of some items and add them to the new law.
said member parliamentary Finance Committee Abdul Hussein al-Yasiri in an exclusive statement (statement): The Finance Committee announced no objection since the beginning put forward the idea of the project is still, but it required the inclusion of some new paragraphs of the draft resolution, which believes the government represented by the  Ministry of Finance, and sectors and citizens do not occur any losses and spare the citizens and banks any breaches get through counterfeiting of the new currency, especially that costs would be prohibitive Each of the citizen andthe bank and not to repeat what happened at the last change after the fall of the former regime and its currency earlier. added Yasiri The Commission has proposed opening for change and trading dual both currenciesso that the citizens end their financial transactions related with private and public sectors and to prevent confusion legal on debts public between citizens.
He said the members of the Finance Committee expressed their willingness to respond to claims the central bank enactment of a law debts public which protects the creditor and the debtor in the event of changed currency and issue instructions procedural in this regard. And that the said project is one of the most important projects emerging Iraqi economy as reduces the volume and numberscalculations used in banking transactions and consumes time and effort, as well as re-Iraqi currency to its normal size as  the currency current unfit for citizen not designed to be carried pocket due to the size of rolling them, as the strategic central bank to reduce the size of rolling units cash than 4 billion units to one billion units a very good thing as well as the introduction of coins large up to 100 thousand dinars are transactions large.
, however, but the fears that delayed work on the project is the fear of currency counterfeiting and the consequent problems besetting the national economy at the current stage what requires finding protection campaign new and intensify the role of economic security and the security forces in general to prosecute counterfeiters and Menthazee opportunities.
albayaniq.com