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  1. #11
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    Quote Originally Posted by jimbo View Post
    Wow this answers my question...

    Parliamentary Finance: 2013 will see a circulation of two currencies at the same time


    by Investors Iraq News


    Published on 06-27-2012 06:34 PM Number of Views: 541



    Parliamentary Finance: 2013 will see a circulation of two currencies at the same time drew the Finance Committee, the parliamentary that Iraq will see trading currencies at the same time over the next year 2013 of the circulation of the new currency afterdeletion of zeros with the survival of currency trading current throughout the year in question.

    A member of the Finance Committee Hassan Salman’s (Center Brief Media Network Iraq) that “the central bank operates in more than six months from now on the position of the deletion of zeros from the Iraqi currency and current which will apply from next year.”

    He pointed out that “the Finance Committee informed and in constant contact with the central bank governor and his aides, who learn about the Finance Committee and hold the details of this issue and the process of replacing the current currency the new currency will continue over the next year.”

    He said, “will end up dealing in the currency the current beginning of 2014 and this process will lead to strengthen the Iraqi currency fluctuations, especially after the Iraqi dinar exchange rate against the U.S. dollar in recent times. “

    And that “currency adjustment will benefit the Iraqi economy and will facilitate the handling of cash in the country by reducing the money supply in circulation now, which Tkdrbhawwala 30 trillion dinars.”


    Read the entire article at IraqDirectory.com

    Post your thoughts below...
    Jimbo, thank you for this... still hanging status to those invested in ISX coz warka still sleeping, IMO theyre still under investigating because maybe, Im not so sure with this to avoid money laundering and maybe there's a lot of SUNNI members or SADDAM supporters have bank account with AL WARKA

  2. #12
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    Here, here.

    Quote Originally Posted by mike032588 View Post
    for share holders this is outstanding news because either way a boom is on the horizon... just sayin...
    Mike032588:

    I just have to say "thank you." Bullet's be damned! I have always appreciated your comments.

    God love us.

    seadesk

  3. #13
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    Quote Originally Posted by BatmaninIraq View Post
    Jimbo, thank you for this... still hanging status to those invested in ISX coz warka still sleeping, IMO theyre still under investigating because maybe, Im not so sure with this to avoid money laundering and maybe there's a lot of SUNNI members or SADDAM supporters have bank account with AL WARKA
    BatmaninIraq,

    This brings me to another thought. If Iraq total M3s is 30Trillion, this could be the reason for the deletion of the 3 zeros. The intent is to reduce the money supply. IMO, when the value of the Dinar reaches 1000 to 1 USD, they will then delete the 3 zeros. By doing so the CBI will beable to reduce the value of the money supply by 29,970Trillion leaving them with a total M3 of 30billion. At this point they will have to have the new currency ready to be circulated and people will be exchanging the larger denomination notes in for the new currency.
    How much are they going to peg the Dinars to the USD.....is it 1.16 to 1USD??? I don't have a clue. But I do think they will make a strong reval to keep the small investers from buying into the Dinars such as we all did....

    If this reval goes as I stated above. I only hope that they peg low so I can afford to buy big!

    When I think about the total M3 the Federal Reserve has and the 100trillion in entitlements. It makes me think that the Feds may do the same thing with our own money supply here in the states.....

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