1-22-13 Mountainman: Last year there were 3 instances we saw early 2013 (January) as a possible date for the CBI to make their move introducing the new currency.
Let's pray that Turki was installed to implement that plan on schedule and there are no more delays. I think this may finally be "our time" and Iraq's.
1-22-13 Butifldrm: If they pass the Federal Court Law, one of Maliki's most valuable tools for oppression, we will see Iraq move forward with great strides.
Maliki has used the Judiciary to purport some of the most horrible crimes in Iraq
Read More Link On Right
1-22-13 Kaperoni: CBI Study: "CBI: CBI study entitled: Central Bank of Iraq and the evolution of monetary policy" Looks like these were from the UAB Jan 11-12 CONFERENCE BAGHDAD just last week. Quote: "Achieve stability in the exchange rate of the Iraqi dinar in the context of a flexible exchange rate system orbit." That means free float! Google it!
And this great quote: "the issuance of currency - moving towards maturation of the project to delete three zeros from the Iraqi dinar, any so-called reform of the currency management system (Rebasing)."
So as the dinar goes up in value, they will issue new smaller notes - as they say..."moving towards maturation of the project to delete three zeros from the Iraqi dinar" In other words, as the rate rise, the zeros will come off dinar automatically. That is a RV (float) over time.
It's pretty much the entire plan laid out. I will just add, IMO, the float must start ASAP...they are following the National Development Plan 2010-2014. Remember what the World Bank said would occur in 2014? Iraq would be a "donor" state.
Therefore, the dinar must have value, and the deletion process must be done before then. There also have been articles that say that they will delete the zeros in 2014 which means the value will be 1 to 1 or higher by then and the transition will be complete.
1-22-13 Tlar: Maliki has been the major obstacle to economic reform in Iraq. With him gone things should immediately start to happen economically. This time Iraq will follow the advice of the IMF and the international community.
Turki has spoken in the past of support for the removal of the zeros. He has held steadfast in following Shabibi's lead in buying as many dinars as quickly as possible.
The bank is ready as they have announced. If they intend to hold fast to starting at a new accounting period, April 1st is the next new accounting period. I know I'm going against the grain but I truly believe this will no longer be a float.
I believe we are looking at a straight RV. I don't believe there is enough dinar in Iraq to float. The IMF has been baby sitting/protecting the CBI during this period. I believe the number will be 1 to 1 either April 1st or July 1st. My money is on April.
Most accounting systems are done on a comparative basis. You are comparing month to month, quarter to quarter and year to year. If you have one period ending in lets say a number under the old system and the next quarter ending in the new system, it is relatively easy to convert the two end results for direct comparison. It's just easier.
That’s why Shabibi insisted on starting on a new accounting period. He wanted first to start on Sept 1st, the last quarter of last year and then his next try was on January 1st the first quarter of this year.