9-11-2012 Blaino: We are eagerly anticipating the commencement of the London Banking and Iraqi Investment "Summit" Meeting coming up on the 18th and 19th this month!
Tell me PLEASE if you have a valueless currency and no way to incentivize those who could bring "investment" (infrastructure, manufacturing, construction, transportation and other goods and services) to your country and no way to pay them in some kind of usable currency why go thru the exercise and why expect international corporations to appear at a cost of travel, the temporary loss of their top personnel during the meetings and for a null effect?
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We think the 15th thru the 17th COULD be very interesting to observe! Also, pay no attention to the story about the "misprinted" currency nor all the newby's and their "LOP Issues" been there, done that, skipped the pink tee!
From Iraq: According to decision of the Economic Commission deputy / Kurdish coalition blocs / Mahma Khalil, that change the shape of the local currency after deletion of zeros of the three of them do not need new legislation of its own because the law of Iraqi banks allowed the central bank to issue a new currency and choose the form and Khalil said although the Constitution Iraqi refusal to issue or print a new currency and selection form by the Central Bank without new legislation permits this,
but that the law of the Central Bank of the year (2004) grant the central authority to change the shape of the currency and issued new look and added that the old law remained in effect, for not legislation a new law on the Central Bank,
so the project to delete the three zeroes from the Iraqi currency does not need new legislation but that the central competent to complete this and pointed to: that the project is very important for the Iraqi economy because it will reduce the liquidity of large and estimated at (33) trillion JD particularly and that Iraq is on the verge of increasing Moisnath Finance for the coming years,
implementation of the project is essential and must be applied and the Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and switch the currency, which warned him, officials and economists because of the presence mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of planned changes.