Post From Dinar Updates
Chat Room Excerpts & Highlights
BGG Sunday Night News Time 11-13-16 Part 1 of 2
NEWSTIME WITH BGG AND CO., Sunday, November 13, 2016
cricket22 says to BGG():This is their question>> Answer please. So if three zeros are removed, a hypothetical is, eight $25,000 note would become a $25 note is that correct?
BGG says to cricket22():NO.
BGG says to cricket22():a dinar is still worth a dinar in Iraq
cricket22 says to BGG():I think they are wanting to understand the deleting of the zeros maybe.
BGG says():OK gang - let's get things kicked off...
BGG says():we'll circle back to that one as our first question for the night... GREAT ONE!!
cricket22 says to BGG():Ok, thank you
BGG says():I've got a good one lined up for you all..
MrsBGG says():Okay, welcome to News Time tonight! If this is anyone's first time, we are glad you are here! If you have a question or comment please put a ? and we will call on you. It makes it easier on the copiers and readers! Thank you for your understanding! Sit back, relax and enjoy!!
BGG says():Here's the agenda for tonite - I'll bring just a couple of articles and then we'll start the Q&A right away...
BTW - there have been several BARN BURNER ARTICLES lately...
BGG says():Reasons to delete three zeros from the Iraqi dinar and what it means to delete the zeros from currency
Omar Al-Fateh – The reasons for deleting three zeros from the Iraqi dinar and what it means to delete the three zeroes from the Iraqi currency, the fact deleting three zeros from the Iraqi dinar, the official source at the Central Bank of Iraq, said that the beginning of the beginning of 2017, will the central Bey Iraqi deleting three zeros from the currency of Iraq,
Finance Committee also announced in parliament that the central bank will start at the beginning of 2017 by deleting three zeros from the local currency,
in other words, that the unity of the coin in 1000 dinars from the old currency will be replaced by only one denarius of the new currency, and so on.
Start procedures to delete three zeros from the currency in 2017
Going on in the minds of many Iraqis that the important question of whether to raise (the zeros from the Iraqi dinar) harm or benefit?
Thus why do not we raise the zeros, the official source in the Iraqi Central Bank stressed that the purpose of deleting three zeros from the currency of Iraq is to lift the economy and prosperity to raise support for the dinar,
which will be a key reason for the return of Iraq’s economy again in January 2017, the step by Iraq intended to reform the local currency system based on the use of the currency too high denominations,
which leads to difficulties in handling and in private transactions accounts, as well as higher prices resulting from the use of monetary units higher categories, which leads to a decline in the currency and declining purchasing power exchange rate the dinar in a big way.
CBI decision to remove three zeros from the Iraqi dinar
Why delete the three zeroes from the Iraqi dinar
BGG says():Here it is...
BGG says():the "Why"...
The aim of deleting three zeros from the currency of Iraq is one of the means to control the high inflation is monetary reform, coupled with a change in monetary policy by the old currency high Pfiadtha replacement of a new currency with lower categories so prices tend to decline, but does he have on inflation?
The answer is no, because the elimination of inflation is required to follow state moderate monetary policy, an official at the Central Bank of Iraq and stressed that the Iraqi dinar will be the vital currency in global stock markets and the central bank is currently discussing the principles of starting the project and its laws on the beginning of the project of the year 2017 and stressed that the new currency will not have a significant impact on the major currencies, but will raise the Iraqi economy...
BGG says():Here was a good post from Hub the other day...
Hub (Dinar Guru) - i only go on economic principle…the facts i go on is for iraq to return to the height of their hayday, 50′s, 60′s 70′s etc, they have to be in the middle of global trade and tourism, and to do so…they must have a tradable currency, or no one will do business with them… rate?
i dont have the foggiest, but it must be one all countries want to trade for, it must show the value of the resources of the country and must be the acceptable currency for that particular inenity. so as soon as they put a reasonable value, the world will beat their door down and all will be well...
BGG says():Hub has a better chance of being an ASTRONAUT than he does of being an actual "pumper"... Sheesh...
BGG says():So - that last article is HUGE>..
Here's a couple of other headlines from the last few days...
The central bank begins its first steps to delete the three zeroes from the currency
BGG says():The CBI decision to remove three zeros from the currency of Iraq beginning in 2017
They are pretty much telling us what's happening..
it's VERY EXCITING!!
BGG says():Now - back to Cricket's question... what was that again??
loop says():Answer please. So if three zeros are removed, a hypothetical is, eight $25,000 note would become a $25 note is that correct?
From Cricket earlier...
BGG says to loop():First off - it's a 25k DINAR note... worth $25 USD (currently)...
Dinarian1 says():Correct me if I am wrong here, but dont they need to have a new value in the IQD BEFORE they can start lifting those zero's? If so, that would mean we would see the RV BEFOR the end of the year. Am I on the same page here?
BGG says to Dinarian1():Working on that right now.
I'll add your thought to it...
cricket22 says to BGG():Sorry, I was trying to help someone get info so they can join in the chat room for news times.
1bobby says():? (but gimme some time to type it, so please take others if needed)
BGG says to loop():where was I//
john3629 says():Do you think Trump will have an impact on this progress ?
BGG says to loop():Woops...
First off - it's a 25k DINAR note... worth $25 USD (currently)...
and when they get done revaluing - no matter what the USD value is - or should be OUT OF IRAQ... (here's why translations and WE - over here - are struggling with this concept)...
inside Iraq - 1 Dinar will still be worth 1 Dinar... a Dinar is a Dinar... so ask yourself - again, when they are writing these articles about their currency - who are they talking to??
Iraqi's - where a Dinar is still going to be worth a Dinar...
so what are they removing??
it's not value... it's what??
cricket22 says to BGG():Zero's
loop says():The old currency 3 zero currency notes over a period of time.
BGG says to loop():BINGO!!
BGG says to loop():and how will they do that?? What would induce holders to turn the bigger notes in??
loop says():Keywords has said that the 3 zero notes will coexist with the new lower denomination notes that they plan on releasing.
jetset says():oooh oooh pick me, pick me!
loop says():Over 10 years