[kaperoni] Let’s get started.
[kaperoni] This past week has been absolutely nuts with articles about the dinar. From the CBI to every so-called economist has chimed in on the “delete 3 zeros.”
[kaperoni] I think that is good for us. IMO, the more attention, the sooner the process has to start.
[kaperoni] Today I am going to recap a few issues and point out a few articles that I think tell us a great deal heading into the weekend. Today’s chat should be a good boost we all need
[kaperoni] If we go back to July, we all remember what I talked about regarding the 3rd Conference of Ambassadors July 17-24th?
[kaperoni] That in essence, Shabibi was teaching these Ambassidors about his “delete 3 zero project” and once the event ended, they would all be going back to there respective countries to initiate their marching orders.
[kaperoni] To create awareness for the pending revaluation of the dinar.
[kaperoni] So now, as we are in September, we see some of those efforts coming to fruition. In recent days, numerous articles are being published outside Iraq, and at least videos have surfaced talking about the pending revaluation.
[kaperoni] So things are really heating up.
[kaperoni] He are a few quotes from articles the last few days that clears up the picture…
Read More button on right
[kaperoni] Talking about inflation…”Iraq's central bank is planning to solve the issue by completely re-valuing its Dinar.”
[kaperoni] “The central bank says complete currency reform will take 2 to 3 years.”
[kaperoni] And another article…
[kaperoni] “Finance Committee received a detailed report of the Central Bank of the process of deletion of zeros from the Iraqi currency.”
[kaperoni] “a long meeting included Central Bank Governor Sinan Shabibi and many of the advisers and members of the Finance Committee."
[kaperoni] "Noting that the meeting resulted in an agreement on the mechanism of deletion of zeros from the currency and discuss their impact on the currency. "
[kaperoni] "The process of switching process as a result of the deletion of zeros will cost approximately $ 150 million and would continue the process of switching to two years including six months to provide the services necessary
[kaperoni] for the printer, the currency and the year and a half to change them gradually through the deal."
[kaperoni] this is good news…
[kaperoni] What this last quote does is gives us a confirmation of what we have been saying…
[kaperoni] when there is an article that comes out and says the project will take 2-3 years, they are confirming to us, not the RV, but the events within Iraq with the transition.
[kaperoni] The actual money supply…as the larger 3 zeros notes find there way into banks, the new smaller denoms will come out. This is a process that will take time….but this process has nothing to do with us.
[kaperoni] Let’s go over some things that we can conclude from these quotes…
[kaperoni] 1. At least 2-3 years the larger 3 zeros notes will be valid in country. We can make an assumption that also will apply to us. So that gives us a really no time limit to cash out.
[kaperoni] 2. They cannot introduce the smaller denominations without at least an “initial” rate change. This is obvious as these new notes have little value with the current exchange rate.
[kaperoni] 3. Not changing the rate, would cause mass speculation and buying of dinar as the rate rises over time.
[kaperoni] 4. Therefore, we can conclude, that an initial rate (above the USD and within benefit for these new lowers notes has to take place. This, as we have discussed, is the RV.
[kaperoni] Lastly, most of us only care about this initial RV rate. That we will all cashout at that time. But these statements are encouraging for those who may wish to wait a bit to see if an additional rate increase comes.
[kaperoni] Lets move on to some more articles
[kaperoni] Another article…
[kaperoni] “The Chairman of the Board of Directors of the Bank Economics Hussam Ali Obeid to the need for the project of deleting three zeros from the Iraqi currency, which would increase the Iraqi dinar exchange rate, confirming that the lift did not cause inflation."
[kaperoni] “He ruled the cause the project to delete the zeros height of the inflation rate, but lead to a revaluation of the dinar against international currencies. “
[kaperoni] More good stuff there…
[kaperoni] Two great quotes…telling us again this is a revaluation! And the dinar will rise against international currencies! (USD).
[kaperoni] And this quote…
[kaperoni] “Commented Chairman of the Bank of the economy on the statements made by some officials and specialists refusing to do delete the three zeroes from the currency: saying: society where many opinions and ideas and all the specialist can be posed freely, “
[kaperoni] "but the project became a reality"
[kaperoni] "and exists and is binding on the State to accomplish"
[kaperoni] "because it would reduce the monetary bloc, adding that the project to delete the zeros will affect the economy, "yes" through the ease of trading in the market and carry and transfer."
[kaperoni] That is a confirmation that this is going forward despite the GOI issues!
[kaperoni] Now another quote from an economist..
[kaperoni] “He noted that the deletion of these zeros will reduce inflation and the value of the dinar will be compatible with the value of the dollar, giving greater value of the Iraqi dinar which does not depend only on the subject of the deletion of zeros,"
[kaperoni] "or the survival of the zeros.”
[kaperoni] He spells out the initial rate…
[kaperoni] “and the value of the dinar will be compatible with the value of the dollar”
[kaperoni] Another quote from this economist ..
[kaperoni] “not to fear of citizens from the process of removing the zeros from the Iraqi currency, stressing that the Iraqi dinar will be stronger than what it is now"
[kaperoni] "there is no need to do to transfer the money into dollars” This is our first confirmation in today’s chat there there is no LOP or devaluing of the dinar notes.
[kaperoni] This is exciting stuff everyone!
[kaperoni] Now another great article came out yesterday…talking about the CBI’s reserves…This is key.
[kaperoni] “stressing that the bank will continue to raise hard currency reserves to achieve exchange rate acceptable to the Iraqi dinar against other currencies, according to the Chancellor pointed out that this reserve is the result of inflows of foreign currency to Iraq”
[kaperoni] You can see what they say, they are raising these reserves to meet the requirements to meet the exchange rate they plan to have with the dinar.
[kaperoni] Good stuff!
[kaperoni] Today a great article
[kaperoni] and i will post the whole thing
[kaperoni] cause it so good
[kaperoni] I will break it down
[kaperoni] Deletion of zeros from Iraqi dinar raises fears of Parliamentarians 09.09.2011
[kaperoni] Super article!
[kaperoni] here is a quote..
[kaperoni] “With the arrival of a bill deleting zeros from Iraqi dinar to the Iraqi Council of Representatives, began the debate in parliamentary circles about the feasibility of adoption of this project at the moment, and raised questions about the assurances of
[kaperoni] the Central Bank about the economic benefits of the move.”
[kaperoni] “The Rapporteur of the Committee of Finance in the Iraqi Council of Representatives Rep. Najiba Najib, said that the Finance Committee discussed with the governor of the central bank and general managers
[kaperoni] in the bank bill deleting zeros from the dinar and asked to prepare a study on the reasons for its adoption and its advantages on the Iraqi economy, and drew Najiba to the fears of the high proportion of inflation. “
[kaperoni] This quote is great cause it’s a confirmation that the meeting took place with Shabibi and the Finance Committee.
[kaperoni] Stick with facts!
[kaperoni] Another quote…
[kaperoni] “Deputy Governor of the Central Bank of the appearance of Dr. Mohammed Saleh, said Radio Free Iraq that the draft law which was submitted to both the government and the parliament, includes all the details of the legislative
[kaperoni] and executive for the subject of deleting zeros from the dinar and the positive economic effects which would leave if passed, and attributed the fears of some parliamentarians to ignorance the subject of Representatives or the presence of personal motives that lie behind the concerns of politicians or citizens. “
[kaperoni] Great Stuff!
[kaperoni] Here is more from this article…
[kaperoni] Its getting better
[kaperoni] stick with me
[kaperoni] “The deputies considered the application of the law to delete the zeros of the Iraqi dinar as negative at the present time in the absence of security and economic stability in Iraq. Which is confirmed by the Rapporteur of
[kaperoni] the Committee of Finance of the House of Representatives by Rep. Najiba called to the need for economic reforms to increase the value of the Iraqi currency, instead of deleting the zeros. “
[kaperoni] “Economic expert Hilal Taan agreed with the opinion of the Iraqi Central Bank's view of the importance of deleting zeros from the dinar, and called deputies who worry about the adoption of this law to reduce their salaries instead of blocking a law that serves the Iraqi economy.”
[kaperoni] “And ruled that the deputy Najib Najiba law shall be adopted during the year due to concern of the Finance Committee of the Federal budget for the year 2012, and pointed to the fears of parliamentarians from the exploitation of the law to delete the zeros by Alsemsarh and currency dealers and counterfeiters.”
[kaperoni] “Hilal, an economist believes that fears of war. Parliamentarians have no basis for ruling out fraud for the new currency or the exploitation of the switch the old currency new currency by the counterfeiters. “
[kaperoni] “On his part, appearance of the central bank adviser Mohammed Saleh lamented the existence of currents constantly obstruct and impede the implementation of any project aimed at Iraq's progress.”
[kaperoni] “Expressed by citizens and their concerns on the morning of the deletion of zeros currency they are dealing with for decades. However, 'Abdul Hakim Jassim considered a positive step to delete the zeros in the event of currency maintained in monetary terms with the ease of handling. “
[kaperoni] at the bottom of this great article comes the homerun.
[kaperoni] Here is the best quote ever!…
[kaperoni] I am breaking it into lines for impact!
[kaperoni] lets do it
[kaperoni] “Appearance of the central bank adviser Mohammed Saleh assured the citizens
[kaperoni] that the Iraqi currency will retain its value and that the Iraqi per capita income will not be affected by deleting the zeros,
[kaperoni] indicating that the process of switching the currency new currency may take a year or more according to the law to be approved by the House of Representatives.”
[kaperoni] Wow is all i can say!
[kaperoni] http://translate.google. ··· 702.html
[kaperoni] link to article
[kaperoni] This last quote has been stated before, but cannot be overlooked…They are stating... “the iraqi currency will retain it’s value”
[kaperoni] I hope you understand what that means!
[kaperoni] That means that there is no chance that these larger notes will be LOP’d as some keep stating. A 25,000 dinar note will be worth 25,000 dinar.
[kaperoni] As for the exchange rate, that is yet to be seen.
[kaperoni] Have a great weekend everyone….This is coming soon. Sit tight, stay with the truth, and the facts…were very close to seeing this happen.