Millionday Roundtable 8/5/13
millionday] wow we sure do have some good news today welcome to roundtable if you are ready to get done and get rid of your dinar say -- amen
millionday] Economic development in the House of Representatives by the Iraqi government to activate the decision to delete three zeros from the Iraqi currency .
On the reason for the claim at this time Parliament Alsnjara said during his meeting with Sisterhood, saying: After the withdrawal of Iraq from Chapter VII see that the regional climate has become fit and there is no fear of currency counterfeiting or forgery, and this argument that upheld the government to stand against the activation of the resolution has become unjustified now as well as
[millionday] best part >>>>>>>>>>>>>>>>> Economic development in the House of Representatives by the Iraqi government to activate the decision to delete three zeros from the Iraqi currency .
[millionday] brb with the rest
Read More Link On Right
millionday] note -- and they are speeding it up >>>>>>>>>>>> the Iraqi environment has become a fertile ground for investment for Iraq's possession of fourth power Global prompting companies global investment race in investing in Iraq as between Alsnjara that there are procedures to speed up activating the decision of which continue to pressure the government legitimately including resorting to constitutional provisions that allow printing of a new currency,
and it is not reasonable to keep the Iraqi dinar weakened to this limit against the U.S. dollar, especially that Iraq's sovereign balance in international banks totaled $ 76 billion
[millionday] In order to stand on the reasons for delay approval of the project to delete the zeros we met an economist and financial consultant Dr Majid picture, who told us the truth about the project and economic feasibility Almarjah the him, saying
[millionday] >>>>> note -- the truth is they didnt know how - here comes the reasoning to that
[millionday] note -- with the stock market they didnt know what to do
[millionday] In 2008, the Central Bank in agreement with the Ministry of Finance to do the studies necessary for the process of deleting three zeros from the Iraqi currency, and the purpose of this process is to restructure the local currency to reduce the cost of trading the currency and facilitate the handling and especially trading, medium and large,
as well as multi-currency than fifty fils to (100) dinars will lead to facilitate the draw price policy in the country to be accompanied by practical package of measures has claimed responsibility for all government departments and state institutions and banks in order to find solutions to all the problems and issues that can result from the process of restructuring of the currency
millionday] including cash, accounting, security, as well as take the necessary measures to destroy the currency received, and most important of these issues is how to do therapy accounting for the deletion of zeros, and related market, Iraq Stock Exchange, said Suri was the experience of Iraq to replace the currency in 2003 is very rich,
but will not exceed only change the shape of currency and replace it, and therefore did not encounter this process any accounting requirements or legal It is necessary to take some necessary measures in the case of structuring currency in order to get the results of the desirable,
including education departments, banks and public usefulness of restructuring the currency and how to take the necessary measures in order to reach the planned objectives, including the use of technology by the relevant authorities in order to detect fraud that occurred formerly of the old currency.
[millionday] see even their schools would have to change everything -- as they are saying here -- they were completely overwhelmed - as we know the goi and the cbi had to work together or it wouldn't be able to be done -- power really was not the issue -- it is working together to get it done right
[millionday] And the reasons that led to the suspension of work on the project Suri replied saying: The central bank's decision to restructure the process a decision for monetary policy, the monetary authority (CBI) and was done in consultation with the Ministry of Finance,
the Bank has taken all the measures relating to the restructuring of the currency, including design of currency denominations and the quality of paper used in currency, which is considered one of the finest types of paper Stainless cash or difficulty rigged, but the interference of the executive of its decision to postpone the process of restructuring the currency led to the suspension of all actions related to this project.
[millionday] That undergo such decisions for political manipulation and skirmishes is not in the interest of monetary policy nor in the interest of the Iraqi economy and therefore non-specialists politicians not to manipulate or interfere in such decisions and be subject to speculations and between political factions warming internalized in power. * And the most important benefits achieved by the project to delete zeros Giebna the economic Thamer Alheimus, saying: [millionday] and then the coins as well
millionday] Most benefit from the process of currency exchange deleting three zeros is the first easy trading and secondly and more importantly when you are distributing coins that are parts of the dinar will create a high elasticity of prices, for example, we now have a quarter dinars (250) smaller currency while will have after the deletion of zeros currency 50 fils or less, depending on the value of the dinar and therefore we can that between 1/4 dinars and 1/2 or less of the dinar, and this helps a lot in improving the incomes of lower segment of low-income people in particular
[millionday] smile smile anyone excited yet ? smile there is more
[Domino] millionday I would love to be & if you say so I will be but don't understand all that so don't know why
[momface] Do they ever say When? Lol
[[millionday] they are activating the exchange of the currency
[bluedog2] millionday NOW!?!
[millionday] oh that is something to be excited about but there is more too so brb
[Domino] So I'm guessing they didn't know how - got some help - worked it out and are ready to go right?
[millionday] Perhaps in this case raises the purchasing value of the Iraqi dinar in general in the future, if there is a monetary policy sober at least have the dinar against the dollar as a target in the stage unforeseen, and certainly the rise of the dinar against the dollar will improve access to many of the families or social strata limited income.
* At the conclusion of our investigation we join our voices with the demands of the Economic Committee in the House of Representatives that calls for the activation of the project to delete the zeros for the benefit of the Iraqi monetary policy and all the Iraqi people, especially the poor and low-income people.
[millionday] so as we see they are announcing in the country that they have called for its activation
[millionday] the result of outside the country should bring it to reality in the rate but we shall see - they will not tell us the rate until it is there
[millionday] as we know their goal is 3.30 or around kuwait as they have said but we shall see at this point i dont care smile
Fresh] millionday yup - activation - not going forward with revising the plan, etc - so much better!!!
[millionday] activation is what we are waiting for and there it is
LBnFL] Well, at least TALK of activation... Sorry, but seeing is believing.
[letsroll] sounds excellent hearing them talk about the LD's .. whoop whoop
[millionday] and then we have this >>>>>>>>>>>>>>>>>>>>>>>>>>>>>.. Resumed the board of national pension issue smart cards to card for retirees after a hiatus of more than a year and a half, but this time set up to card issuing within the body to facilitate the release, which should have been done in the banks and the difficulties great for the elderly, said Ahmed Abdul-Jalil al-Saadi Chairman of the National for retirement that the resumption of release came after large orders,
which delivers it to a group of retirees they need to take advantage of laundry services card that will help their counterparts who possess in receiving their salaries away from the pressure of congestion banking, extortion and
[schmidtberger] sorry...had to step away...did i miss the good stuff?
[millionday] they are loading the cards
[millionday] money damaged as well as being Setsttion the use of new services and added Saadi that the Commission agreed with Qi Card to open centers issue in all circles retirement in Iraq to facilitate the task of the citizens of his part, Bahaa Abdel Hadi Managing Director for Card said the company is committed to providing facilities to issue typical for retirees in terms of processing and the provision of comfort to citizens during the wait in terms of cooling the halls and the provision of water and places to wait suit The services of these
[millionday] schmidtberger they have activated the removal of the three zero currency and the change of the rate
[schmidtberger] Whoop whoop!!
[millionday] they have announced this to the citizens law of infrastructure
[The s family] I thought the removal of the zeros was already being done
[millionday] Demanded economic analyst nice Abdul Salem Okkaily, the House of Representatives need for the enactment of the infrastructure because of its great importance in the implementation of a lot of service projects for the country. And said Okkaily (of the Agency news) on Monday: that the law will bring infrastructure discreet international companies that have a long tradition in the implementation of service projects and private infrastructure in a payment on credit and for soft repay
[millionday] The s family they are bring out the lower denoms and the coins
[wmawhite] millionday ....we hope that this announcement is "after the fact"....................that they are already well into it.
[millionday] they announced they were doing it but they have announced its activation today
[wmawhite] millionday .....again,.the key + its activation.
[sunnyca] millionday Wow - will the rest of the world be activated also?
[millionday] wmawhite i would assume that they are -- normally we have the news after they have sifted through it except for the night news --- so it will be very interesting to see what is in tonight's news
[millionday] sunnyca the rest of the world for what hun?
[wmawhite] millionday ...true....I do not believe that they give anybody a "heads up" or any lead time.
faith1] millionday ,, could it be activation for the Holiday after Ramadan ??? !!
[wmawhite] sunnyca sunnyca ......there is no such thing as a world basket of currencies.
[millionday] right -- the world news will talk about it after the fact -- most will make their money off the stock exchange and the gains involved in the joining of their isx
[sunnyca] millionday they have activated the removal of the three zero currency 10:36 AM [millionday] and the change of the rate 0:37 AM [millionday] they have announced this to the citizens This looks like they activated the rate in country. Is that mistaken?
[dinarmamma] millionday when do we and they exchange?
[sunnyca] wmawhite I thought MD was saying the rate was announced in addition to the removal of the zeros/
[millionday] sunnyca they are telling the citizens that they have activated the exchange of the dinars process now and the change in the rate is a result of that hun --
[sunnyca] millionday okay ty
[millionday] smile - the world exchange rates will be effected by the change in their currency and the set rate they apply for trade - this is very good
[wmawhite] millionday ....interesting timing........the end of Ramadan.
[millionday] and the second report is also to the citizens -- they have resumed the loading of the cards very interesting in their religion-- the ramadan feast is a time of gifts
][millionday] let me see if i can find anything else
[bluedog2] millionday The feast is on the 8th is it not?
[werblessed] millionday would you allow me a question
[millionday] activation is a whole different animal from they are done with the plan or in the coming days or blah blah -- roundtable is all about questions hun -- of course
[millionday] bluedog2 yes i believe you are right 7 -11 is holiday i believe i have to look and see i have so many dates in my head
[millionday] it is saying that they have announced to citizens that they have activated the whole process of pulling in the three zeros and putting out the lower denoms and coins
[dinarmamma] millionday use simple terms for us lay peeps please lol
[werblessed] Rudie thanks for copying i will need it to read and reread
[dinarmamma] millionday thank you
[momface] Thats the question.... how long until we see the effect of the activation..
[bluedog2] anonymous1 [millionday] they announced they were doing it but they have announced its activation today
[dinarmamma] millionday yes when when??
[millionday] and the cards are loaded and they have most done and the people have money on their cards -- the rate will be set - the question is -- when is the rate set to the rest of the countries
[booboo] when will we see the rate change?
[millionday] today or tomorrow the next day
[wheresmyRV?] Wow talk about a great day chalked full of good news!!!
[millionday] it is activated so now we wait to see the rate brb
[Fresh] millionday important to note that everyone here at PI should stay very grounded and not do anything crazy to disrupt their lives until we see rate changed on CBI website, etc
[millionday] there is a holiday coming up but money is on cards
[millionday] The parliament Economy & Investment Committee ruled out possibility of emerging an economic crisis due to the unstable security in Iraq. Economists had warned of a backwardness that might befall the economy in Iraq if the security deterioration would continue.
The Economy Committee's Rappateur, Mahma Khalil stated to All Iraq News Agency (AIN) "We do not think Iraq will suffer economic crisis, especially since many countries are building their economies depending on Iraq's economy as it enjoys considerable financial reserve and surplus."
[anonymous1] surplus ... like the sounds of that
[millionday] "Iraq has promising economy in future if the government takes sound measures with regard to enacting laws and rehabilitating the banking system and eliminating the routine and the corruption," he emphasized.
[anonymous1] this is a definite maybe for this week lol
[millionday] anonymous1 oh yes it is a definite maybe for this week – lol we will be here for tonights newstime at 730 est be here and dont miss any news