News
Iraqi Dinar Buzz Updates
Dinar Iraq slightly higher than Usd1
2012-05-23 22:55:52
From time to time more proof comes my way.
Here is proof that the CBI is collecting the 3 zero notes (as the means to reduce the money supply).
Article...
Deputy: five conditions capable of reviving the economy and most notably the presence of correct vision Sunday, May 20th
http://translate.goo...basraelc.com%2F
Quote...
"The morning newspaper (the semi-official) to the official reports indicated that the central sold last Thursday, nearly 250 million dollars and was able to absorb three trillion dinars over the past month against the sale of two billion dollars and is expected, analysts and financial experts to see the dollar fall further in the coming days Coinciding with the increase in sale auctions currency from the dollar and the decline in demand to buy it in local markets. "
Now that in itself is enough, but this article came out the other day that is the icing...
House of Representatives of the fear of corruption associated with raising the zeros Currency Saturday, May 19
http://translate.goo...Firaq-news.html
Quote...
"A member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri for "Twilight News", "talking about lifting the zeros of the Iraqi currency is accompanied by the opinions of other support and stand against it."
He explained that "those who stand deduced from the change are the currency on the interest that they would gain economic situation in Iraq when replacing paper reviews the category of 1000 dinars to one of category 1 dinar, which means that the money supply would remain the same with a different class."
So they are clearly saying here that "lifting the 3 zeros" does not reduce the money supply in itself. Therefore, as shown above, Shabs job is to collect them. And i might add, he done a fine job
Here is the last quote from that article...
"Economists and shows that the process of removing three zeros from the Iraqi currency will lead to increased value, and to increase the purchasing power of citizens, pointing to the need to pursue policies to persuade the citizens quiet and get used to it for a period not exceeding two years. "
Oh you want more?
How about the SIGIR report to US Congress?
SIGIR - Quarterly Report to the United States Congress (April 2012)
http://www.sigir.mil...12.pdf#view=fit
Look at page 84 (94 from the page guide)
Quote...
"In April 2012, the CoM postponed indefi nitely plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and required the issuance of new currency notes. The reform would have made the dinar’s value slightly less than $1. It is currently worth less than one tenth of a cent."
They are talking about the Council of Ministers (CoM) telling Shabibi to hold off. Which since then we know the CBI has made it clear (as well as Parlaiment) they did not have any authority to do so and the CBI is moving forward. But the key here is they disclose the rate (slightly less than $1.) which support the 1.17 to $1 or .86 rate we have been reading about for months.
Another point from this SIGIR report is clearly this information shows the CBI plan. So those who were saying Shabibi was the bad guy trying to LOP the dinar and the GOI was just stopping that from happening are simply wrong. The CBI has the correct plan, we just need to see it play out.
Here is proof that the CBI is collecting the 3 zero notes (as the means to reduce the money supply).
Article...
Deputy: five conditions capable of reviving the economy and most notably the presence of correct vision Sunday, May 20th
http://translate.goo...basraelc.com%2F
Quote...
"The morning newspaper (the semi-official) to the official reports indicated that the central sold last Thursday, nearly 250 million dollars and was able to absorb three trillion dinars over the past month against the sale of two billion dollars and is expected, analysts and financial experts to see the dollar fall further in the coming days Coinciding with the increase in sale auctions currency from the dollar and the decline in demand to buy it in local markets. "
Now that in itself is enough, but this article came out the other day that is the icing...
House of Representatives of the fear of corruption associated with raising the zeros Currency Saturday, May 19
http://translate.goo...Firaq-news.html
Quote...
"A member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri for "Twilight News", "talking about lifting the zeros of the Iraqi currency is accompanied by the opinions of other support and stand against it."
He explained that "those who stand deduced from the change are the currency on the interest that they would gain economic situation in Iraq when replacing paper reviews the category of 1000 dinars to one of category 1 dinar, which means that the money supply would remain the same with a different class."
So they are clearly saying here that "lifting the 3 zeros" does not reduce the money supply in itself. Therefore, as shown above, Shabs job is to collect them. And i might add, he done a fine job
Here is the last quote from that article...
"Economists and shows that the process of removing three zeros from the Iraqi currency will lead to increased value, and to increase the purchasing power of citizens, pointing to the need to pursue policies to persuade the citizens quiet and get used to it for a period not exceeding two years. "
Oh you want more?
How about the SIGIR report to US Congress?
SIGIR - Quarterly Report to the United States Congress (April 2012)
http://www.sigir.mil...12.pdf#view=fit
Look at page 84 (94 from the page guide)
Quote...
"In April 2012, the CoM postponed indefi nitely plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and required the issuance of new currency notes. The reform would have made the dinar’s value slightly less than $1. It is currently worth less than one tenth of a cent."
They are talking about the Council of Ministers (CoM) telling Shabibi to hold off. Which since then we know the CBI has made it clear (as well as Parlaiment) they did not have any authority to do so and the CBI is moving forward. But the key here is they disclose the rate (slightly less than $1.) which support the 1.17 to $1 or .86 rate we have been reading about for months.
Another point from this SIGIR report is clearly this information shows the CBI plan. So those who were saying Shabibi was the bad guy trying to LOP the dinar and the GOI was just stopping that from happening are simply wrong. The CBI has the correct plan, we just need to see it play out.