(Thank you Ron for emailing this to us)
Greetings Peoples Dinar Members.
One of my comments is after hearing all of this wonderful news, this just does not make any sense. But, stop and think about this, so far, nothing they have done or the way they have done things has made any sense either. One thinks that tipping there hat would upset the apple cart, but it appears that the CBI has this all planned out and they know exactly what they are doing and when they are going to do it.
Here is the key, no one knows when Maliki will give the final approval, but I truly do not believe he will hold off for all that long especially the mounting pressures he has.
Ray and I have been working and digging very hard for more information so we can share with you regarding your investments. I just talked to Ray and this by far is the best news yet.
This news is related to the news article with screen shots from one of our members. What Ray and I would like to do is tie it all together.
So what this post will answer is many important things. The 2012 budget, the 2013 budget, the final lifting of Chapter 7, the new rate of the Iraqi Dinar and when (finally a drop dead date) that came directly form Dr. Shibibi.
I think I know what the rate will be as I have already shared it in may past posts, so let's just let this play out and we all need to stay positive and let this darn thing happen.
(photos not showing)
This news is so powerful that it even gave me a huge smile.
Here is the great news that Ray just shared:
Read More Link on Right
Parliament Economic Committee: Process to start removing zeros from the currency in September
Baghdad, February 18 (Rn) – The parliamentary economic committee, Saturday, in agreement with the Iraqi Central Bank to begin the process of removing zeros from the local currency in September next.
The central bank announced earlier that he is considering the requirements of the project to delete the zeros of the local currency with the Council of Ministers in terms of need process for the enactment of the organized or not.
A member of the Economic Commission Abdul-Hussein Abtan told the Kurdish news agency (Rn) that “the Economic Commission agreed with the Central Bank to begin the process of changing the local currency in September next.”
He added that “the agreement granting process to ensure the currency switch for a full year that the two currencies are traded the old and new in the market during this stage.”
And describes the CBI process of switching the currency national project in support of the economy in the country, while expressing the Iraqi government for fear of the project as it will increase the phenomenon of money laundering, “according to belief,” and is working to convince the central bank to stop the implementation of the project, and be approved by the securities the government’s position of deletion of zeros and says it will affect negatively on the financial trading in the stock market.
Abtan explained that “the process of removing the zeros from the currency will contribute to dealing with inflation and facilitate economic cooperation with international banks and reduce the differences of living in the community.”
The Committee emphasized the financial representative, on Sunday, the central bank tarry in the provision of a bill to delete the zeros from the currency to the Committee for the purpose of his study, saying that the law was passed would give Iraq an opportunity to address economic inflation, as experts predict a rise of inflation in the budget in 2012 because of the continuing interest in aspects of operational at the expense of the investment part of the general budget.
And inflation is excessive in the general level of prices and rising incomes as well as higher cash costs and create excessive cash balances.
He concluded his speech by saying Abtan that “the central bank looking to send a bill to change the currency to the House or not because the law gives the Central Bank of implied powers to delete the zeros of the local currency.”
The functions of the central bank conduct of monetary policy in the country, including exchange rate policies and the management of foreign reserves and the issuance of currency management, and raise the level of the values of the Iraqi dinar and deal with inflation in the country, which is responsible also for the maintenance of price stability, as well as to regulate the banking sector.
Thank you Ray for all you do and keep the PD family current with only the facts and up to date on the current news regarding our investment and all of the lives that will change in Iraq. You hit this one out of the park.
I plan on doing a great follow up post with more links my partner sent to me in the next day or two.
Remember, "Silence is golden unless you can improve on it!"
I hope you all have a great week and even better weekend.
God Bless you all and your families.