KAPERONI: Well, I dont think this is anything new if you believe this is a two-step process.. 1. raise the value, 2. officially remove the zeros/new currency (Article & Link at end of Post )
Wednesday, 05 2012 Alsumaria News / Baghdad
The Central Bank of Iraq, Wednesday, that the project to delete the zeros from the currency will not be in the next year, at the request of the wait made by specialized committees in Parliament.
The governor of the Iraqi Central Bank and the Agency Abdul Basit Turki, in an interview for "Alsumaria News" that "تريثا occurred in the decision to delete the zeros and the currency exchange," noting that "the timing of the start of the project has not been determined until today, but it will not be over the next year 2013 ".
Turki added that "the deletion of zeros is a necessary and useful step to restructure the currency and the economy," noting that "the relevant committees in parliament called for the need to wait in the project, so as to provide appropriate time and circumstances."
KAPERONI: Well, I dont think this is anything new if you believe this is a two-step process.. 1. raise the value, 2. officially remove the zeros/new currency.
Read More Link On Right
KAPERONI CONTINUES: So IMO, this just confirms this will not be an overnight RV like so many want to believe, but a float. With them coming out and stating this, I think we have to now look at early 2013 sometime Jan-April for the float to begin. Which may very well be Feb just before the IMF Stand-by-Agreement expires.
But then again, this could all be smoke and the thing hits tomorrow..lol
Central Bank announces Trath draft deletion of zeros at the request of the Parliament
KAPERONI: "the timing of the start of the project has not been determined until today, but it will not be over the next year 2013 ".
Turki added that "the deletion of zeros is a necessary and useful step to restructure the currency and the economy," noting that "the relevant
KAPERONI: I just find those two statements very contradictory considering the circumstances in Iraq. Everyone is fully aware of the economic situation in all areas. Delaying this event seems to only accomplish one thing, which would further deteriorate the achievements made in the economy and create more poverty, less employment and civil unrest. Maybe that is what Maliki wants....who knows.
PGLD: Your posts make perfect sense and logic tlar. The fundamental issue at hand is that greed, corruption and immorality rule the day. It's not about what should happen, or what they ought or need to do. It's about what pleases those in power and serves their best personal interests.
The proof is in the pudding. What is the last example of Iraq doing something in the best interest of the people, much less the rest of the world? I accept this as fact, because it is fact, not opinion. Do I hope they continue on this path? Of course not, but I am a realist and this is the reality.
KAPERONI: The one interesting fact that is still outstanding is the torn, worn out dinar. The articles that addressed this in Sept and Oct stated that the first week of Nov they would start issuing replacements. To this date, I am not aware any such process. Therefore, this article seems to hold even more gravity when you consider the condition of the dinar in country.
TERRY: "Turki added that "the deletion of zeros is a necessary and useful step to restructure the currency and the economy," noting that "the relevant committees in parliament called for the need to wait in the project, so as to provide appropriate time and circumstances."
So, what is the appropriate time and circumstances??? My guess is we will never know until the money is in our pockets. The more I learn the more I don't know. These people are driving me crazy.
FIRST ARTICLE IN POST & LINK:
The Iraqi Council of Ministers decided, in (16 October 2012), the prime BSA Abdul Basit Turki tasks central bank governor agency, meanwhile, announced the Supreme Judicial Council, in (19 October 2012), for the issuance of an arrest warrant for former Fed governor and a number of officials in corruption cases.
He revealed Iraqi Central Bank Governor Sinan al-Shabibi issued an arrest warrant, the (November 6, 2012), on the detention of 20 employee of the bank, demanding release about them, also considered that the bank has refused the government's attempt to dispose of its reserves is the cause of the dispute, stressing that his conflict with the Government policy in the fight against inflation.
The Parliamentary Finance Committee suggested, on August 9, 2012, on the San Attorney Haitham al-Jubouri be direct delete zeros and the currency exchange during the month of July of next year, and as shown, the central bank has removed all fears, it confirmed that the government will support this project after providing Baijayate and disadvantages.
A member of the Economic Commission parliamentary Hussein Mura'bi in (Sept. 23 2012), that the confusion in the monetary policy makes the country lose about eight million dollars a year, while warning that the issue of deletion of zeros will facilitate the mafia money laundering steal billions without feeling state, called to examine the impact on the general situation.
He accused the Central Bank, (12 September 2011), government agencies of obstructing monetary reform and vowed the persecuting, blaming those entities responsible for exposing the financial interests of the country to danger.
Regarded as an adviser to Prime Minister for Economic Affairs Abdullah Hussein Al-Anbuge, in (25 August 2011), that the lifting of the zeroes from the currency is the biggest corruption in Iraq if it was during this period, and fall under the name of tampering economic, warning of "mafias currency" is preparing to rig the trillions Iraqi dinars to replace them in the light of the upcoming changes.
Noteworthy that some economists believe that Iraq is currently formatted for the deletion of zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability.