(Thank you for posting Duckyboy at OOMF)
[kaperoni] Welcome to DinarAlert noon chat!
[kaperoni] Please no typing…to prevent yourself from getting kicked
while your sitting idle, periodically click the “Online” button above
the list of names.
[kaperoni] Ok, lets get started.
[kaperoni] I called this because my Arabic translator friend emailed
me some great information that I wanted to share with all of you.
[kaperoni] Many of you know I have a great friend who I met a few
years ago. He is an Arabic translator and has many times interpreted
the articles and links I have sent him. He has often provided insight
that normal translations do not catch.
[kaperoni] His contribution to figuring out this information is simply
invaluable. His insight has simply again been invaluable to us a team
working to achieve the same goal. He has my full trust and I have
tremendous respect for his dedication.
[kaperoni] Thank you my friend the Arabic translator!
[kaperoni] Here is his recent comments and translation to the
Read More button on right
[kaperoni] My arabic translators comments….
[kaperoni] The most recent one, where it talks about the 500 and the
1000 Dinar bill, has a lot of recycled material in terms of the
background about changing the dinar
[kaperoni] and how CBI had denied that they were going to make changes
this year, etc but they are saying that now they are going to start
the process and begin to do whatever preparations they need to remove
the 3 zeros and that this process will begin this week.
[kaperoni] They are saying that they want people to start using the
lower coins, and that they will have coins that will replace the 500
and the 1000 Dinar bills.
[kaperoni] They don't mention the value of the coins or any
information about them, but my assumption is that it may be something
like the 100 Dinar coin or 50 Dinar coin, or it could even be like a 5
Dinar Coin and a 10 Dinar Coin.
[kaperoni] I am not saying lop or anything like that, but they will
probably have a coin that is lower in value to be in line with a new
[kaperoni] As we've said all along, removing the 3 zeros without
changing the rate will just make people need to carry dufflebags of
money with them.
[kaperoni] They also say that they may change the value of the Dinar
for it to be competitive in the world market and be at least as strong
as the dollar (To me that means that they are implying
[kaperoni] that each Dinar will be worth at least $1, but they are
hinting at it being a bit higher, and I think they are hinting at the
old RI value of around $3.00).
[kaperoni] The other important article was the one titled Don't Fear the Dinar.
[kaperoni] That one has a lot of info that we already know, but is
basically reinforcing their claim that they are going to push for
people to use the coins
[kaperoni] and that the coin project failed the last time around
because of the rate of exchange and this time things will be different
(They are referring to the 50 Dinar coins that are in circulation but
that people always throw away because they are so worthless and cannot
buy anything at the 1170 rate.
[kaperoni] This was stated by actual Iraqi people when they were
interviewed in that video clip on the Iraqi TV station about the Dinar
many many months ago).
[kaperoni] The article says that the restructuring decision was
completed on June 22 and that they are going to go ahead with the
project extremely soon (which if you remember there was an
[kaperoni] article that came out around that time saying they had
presented the plan for Dinar restructuring to the Council of Ministers
and that they had approved it.)
[kaperoni] The other articles are just recycled info and personal
opinions about why they do and do not need to remove the 3 zeros from
the currency and then talk about the pros and cons, etc, and we've
heard all of that at this point.
[kaperoni] Hopefully something will happen soon! CBI updated and so
nothing for today, but will keep watching it.
[kaperoni] That's all i got from my Arabic translator. Good news!