AnimatedRock: IF a “delete the zeroes” approach is implemented, this DOES NOT help our situation at all. And it is not an RV. !
SurfingWolf: Delete the zeros is not 25,000 —> 25 (lop)
but rather .0008 —> .8
if they intended to lop the currency… there’s much less need to reform their economy, banking systems etc. while it’s still a major change for a currency… it’s not nearly as critical as the expected RV.
They could “just do it” and probably would have. Lops are common among countries who have experienced significant inflation which leads to high denomination notes. Iraq did not end up with 25ks through inflation, but imposition of program rate.
There’s no way the imf/wB/USA/countless other governments and institutions would have invested so much in Iraqs reforms.
Much of the world is counting on iraqs monetary reform process. At least, there’s a lot of evidence for this being the case
************
RVDoc: Here is an IMHO from being in this now for over 7 years. At any time, they could have initiated a change in the currency and “lopped” the three zeros notes. What is or was there to stop them? It would have been so easy and its done all the time in other countries.
Would it have changed their status or value of the Dinar, no, and it really would have been very simple to do which is why if they were to lop they would have done it long ago and there would be no monetary reform or any banking updates or reason to work so hard to make the road ready for monetary reform.
It has been pointed out by many that to hold smaller denoms would only increase the amount of currency or paper needed to buy needed things, or to buy anything for that matter. And to even use lower denoms in conjunmction with the three zero notes would not serve any purpose for them. It changes nothing with the value, and with costs around the globe, we know that no one is going to lower their price for goods for them, so whats the point of a lop then or even now??
Think about this one point and it makes it very simple and clear as time goes on. The fact it has never lopped in all these years is actually proof that they will not just “lop” the zeros. So those who spread the fear,, wrap your negative brains around that one!!
The term monetary reform does not and needs not be addressed or accomplished or done if they are not to increase the value or if just to lop. It has no application and there would be no need for laws to be changed, banking to be updated, or for IMF/ World Bank involvement if all they were going to do was to lop.
Credit Ratings would not be important, banking modernization would not be of huge importance, and the list goes on. They would have joined the International Banking System years ago. In essence, we have so much proof in the fact that they did not already lop and have not introduced the lower denoms years ago that in no way would it make any sense to lop now or in the future. In fact, they have had lower denoms have had them for years.
And I ask you what could they buy with them without having large stacks of currency?? If you want more proof than that, I have no clue what to tell everyone in this who is worried!
Regardless of all the articles and all the GOI and CBI back and forth, the IMF and the World Bank and others who have their hand on this, no one would waste their time with a Monetary Reform just to “lop”! Its Common Sense after all the years in this.
It will happen, when,,,,, as soon as they are ready and stable and able to make the transition at the most appropriate time, a time when it will magnify the value in their best interest. That time is now, not months or weeks, but soon! It will be done when it is in their best interest, and now that the Maliki’s and other crooks are exposed and out of the way, there is no one to slow it down, it will happen very soon!
They have set the plan, planned to succeed, and succeed they will.
************
Chris05: Hey RVDOC,
Thank you for this thoughtful post, I couldn’t agree more with you.
This is a well crafted project to liberate the economy of Iraq and it’s people, that EVERYONE (GOI, CBI, UST, IMF, WB, UK etc) is on board 100%.
This is just common sense
************
Excerpt from Wed. Night CC: Link
Frank26 We are simply waiting for the government of Iraq…to tell the Central Bank of Iraq to activate the lifting of the 000’s from their exchange rate to add value to their currency…that is it.
Now granted we have added that we would like for Mosul to be announced…and we told you there were a lot of deals…a tremendous amount of deals that occurred when the ME Summit occurred…whether it was with Abadi, Donald Trump…whoever it may be…these were some amazing deals.
We suggested they lead up to the price of oil going up…is that directed at the Monetary Reform of the Iraqi dinar…I think you can answer that question yourself can’t you…
*********
Don961: Iraq ahead of the ten Arab countries in gold reserves
1 day ago economy 98 Visit
Iraq exports ranked fifth in gold reserves, on Wednesday, according to the latest report released by the World Gold Council, which measures the period until the end of the first quarter of this year.
Iraq and progress on the classification of Kuwait, Egypt, Qatar, Jordan, Syria, Morocco, United Arab Emirates, Tunisia, Bahrain and Yemen.
Saudi Arabia topped the Arab countries the size of reserves to 322.9 tons gold, followed by Lebanon, Algeria, Libya.
The reserves of gold is maintained by the Central Bank as a store of value and guarantee to redeem promises to pay depositors and holders of securities or trading peers, or to secure a currency, used gold reserves almost exclusively-albeit rarely-in the settlement of international transactions.
************
Don961: Dollar drops today to 1247 dinars
History of edits:: 2017/5/24 10:37 • 288 times readable
[Oan- Baghdad]
recorded the foreign exchange markets in Iraq on Wednesday morning, down to the dollar exchange rate against the Iraqi dinar.
The record market price in the fight in Baghdad Stock Exchange 1247 dinars per dollar, ie , 124 thousand and 700 dinars for one hundred dollars.
The buying and selling of the dollar in the prices of banking companies were:
sales per dollar rate by 1252.5 dinars, ie , 125 thousand and 250 dinars, for one hundred dollars.
The purchase price of the dollar B1242.5 dinars, ie 124 thousand and 250 dinars, for one hundred dollars.
http://www.alliraqnews.com/modules/news/article.php?storyid=62248
