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View Full Version : Deletion of zeroes: We believe they are going to move forward



old joe
12-06-2012, 06:16 AM
12-3-2012 Newshound Guru Kaperoni: There was an article that came out in December 2010 and it clearly stated that Shabibi said once the government is formed and stable I will move forward with the project to delete or lift the zeros of the currency. A lot of sites took this during the entire year of 2011 as to why the event didnít occur. The reality is in February 2011, Saleh came out and said the govt is stable enough, we are now moving forward with the deletion of zeros. Even though the govt isnít where we want it they felt it was far enough along at the time to move forward. They were prepared in June 2011 and Shabibi came on TV and said at the end of this month I am going to implement this. The GOI stepped in and said ďwait a minute, weíre not ready, we donít want this to occurĒ and stopped the event. Then there was a whole series of articles that the GOI has to work with the CBI. And this whole scenario repeated itself, all these articles came out with CBI saying we are ready to go. Again, the GOI stepped in and shut it down. Clearly, there were two occasions where the CBI was clearly ready to implement this project. Now that Shabibi is gone, we see articles coming out about the condition of the currency on the street. We believe they are going to move forward. We donít know when. We know agreements have been signed and it appears from the pressure that the IMF is putting on pertaining to the IMF Standby Agreement, they really have to do something. The problem with Iraq is that everything can change and even though you set a deadline of February of when the IMF extension expires, they find a way to get another extension. Lets hope that they donít because every time they get an extension that just means it isnít going to happen. The last thing that Maliki wants to do at this point, given the current conditions in Iraq, is give value to the currency. I guarantee it.