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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

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    • Post n°1

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by Hkp1 Wed Jul 10, 2013 1:39 pm

    07/10/2013



    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros







    BAGHDAD / JD / .. confirmed the parliamentary economic committee in the House of Representatives that the committee demanded that the Central Bank is implementing a project to delete the zeros from the Iraqi currency.

    He said the Commission's decision MP economic Mahma Khalil Qassem told / JD / day: that the Central Committee had requested to reconsider the project and for purely economic reasons, is to maintain and improve the Iraqi currency against other currencies.

    Khalil explained that this project is an old project was discussed in accordance with the laws in force in the central bank, and now a year after the discussion we see that the time is right, especially after the withdrawal of Iraq from Chapter VII of the revival of this project.

    The Iraqi Central Bank estimated Estimated cost of the project to delete the zeros from the currency up to 172 billion dinars ..

    She said a special study project to delete the zeros received / JD / copy: The speculative total cost of the project to delete the zeros up to a hundred and seventy-two billion dinars "..

    The bank said in the study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by the companies ..

    He added that "Estimated cost Mint coins of the new currency amounting to 16 billion dinars," ..

    The bank continued, "The wages of cargo transportation, Fridays and public holidays, overtime, etc. amounting to 15 billion dinars," .. He pointed out that the cost of the media campaign and miscellaneous costs up to (1) billion dinars ..

    He recalled the bank the cost of the replacement process for the period from 15/10/2003 and the Bank of the reasons for the deletion of zeros, the first being that the process of deletion of zeros will be an opportunity to add new properties of the Iraqi currency to prevent potential counterfeiting of the new currency through the use of specifications of high security, leading to increased customer confidence ( and public institutions) as a result of low or no cases of counterfeiting ..

    He pointed out that the second reason that the process of deleting the zeros will reduce Alokiem digital currency and financial Almahacbah and may play to reduce the time, effort and cost required to complete financial transactions and accounting as well as the possibility of reducing the number of banknotes traded especially if it were printed banknotes categories big "..

    He said the third reason, it enhances the possibility of maintaining the exchange rate of the Iraqi dinar against foreign currencies earned the confidence of dealers. / End / Mona Fatlawi /

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    • Post n°2

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by mochasmom Wed Jul 10, 2013 2:14 pm

    Go baby go.  That's a lot of billion dollars.  Is that including exchanging?
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    • Post n°3

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by lonelyintexas Wed Jul 10, 2013 4:52 pm

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros


    2013-07-10

    BAGHDAD / JD / .    . confirmed the parliamentary economic committee in the House of Representatives that the committee demanded that the Central Bank is implementing a project to delete the zeros from the Iraqi currency.


    He said the Commission's decision MP economic Mahma Khalil Qassem told / JD / day: that the Central Committee had requested to reconsider the project and for purely economic reasons, is to maintain and improve the Iraqi currency against other currencies.

    Khalil explained that this project is an old project was discussed in accordance with the laws in force in the central bank, and now a year after the discussionwe see that the time is right, especially after the withdrawal of Iraq from Chapter VII of the revival of this project.

    The Iraqi Central Bank estimated Estimated cost of the project to delete the zeros from the currency up to 172 billion dinars ..

    She said a special study project to delete the zeros received / JD / copy: The speculative total cost of the project to delete the zeros up to a hundred and seventy-two billion dinars "..

    The bank said in the study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by the companies ..
    He added that "Estimated cost Mint coins of the new currency amounting to 16 billion dinars," ..

    The bank continued, "The wages of cargo transportation, Fridays and public holidays, overtime, etc. amounting to 15 billion dinars," .. He pointed out that the cost of the media campaign and miscellaneous costs up to (1) billion dinars .. He recalled the bank the cost of the replacement process for the period from 15/10/2003 and the Bank of the reasons for the deletion of zeros, the first being that the process of deletion of zeros will be an opportunity to add new properties of the Iraqi currency to prevent potential counterfeiting of the new currency through the use of specifications of high security, leading to increased customer confidence ( and public institutions) as a result of low or no cases of counterfeiting

    He pointed out that the second reason that the process of deleting the zeros will reduce Alokiem digital currency and financial Almahacbah and may play to reduce the time, effort and cost required to complete financial transactions and accounting as well as the possibility of reducing the number of banknotes traded especially if it were printed banknotes categories big "..

    He said the third reason, it enhances the possibility of maintaining the exchange rate of the Iraqi dinar against foreign currencies earned the confidence of dealers


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    • Post n°4

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by gundam701 Wed Jul 10, 2013 4:56 pm

    this doesnt sound like good news. If they delete the zeros our millions turns into thousands or maybe even just hundreds.  Doesn't make sense to do that since supposedly [b style="margin: 0px; padding: 0px; color: rgb(34, 34, 34); font-family: Arial, Verdana, Tahoma, sans-serif; font-size: 11.818181991577148px; line-height: 15.454545021057129px; background-color: rgb(239, 241, 243);"]Iraq's reserves of foreign currency to $ 76 billion in addition to the 30 tons of gold bullion. [/b]


    This amount of reserves and gold should increase the value of the dinar not dwindle it.



    Deleting zeros would make the poor people poorer than they already are.  The $1,000 dinar a poor person has could turn into $1 dinar and what would they be able to buy with that, possibly 1 item? 
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    • Post n°5

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by Neno Wed Jul 10, 2013 5:34 pm

    The Iraqi Central Bank estimated Estimated cost of the project to delete the zeros from the currency up to 172 billion dinars . wrote:
    FIRST and FOREMOST, you got to understand what delete the zeros mean... ;)
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    • Post n°6

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by Neno Wed Jul 10, 2013 5:37 pm

    the first being that the process of deletion of zeros [b]will be an opportunity to add new properties of the Iraqi currency[/b] to prevent potential counterfeiting of the new currency through the use of specifications of high security, leading to increased customer confidence ( and public institutions) as a result of low or no cases of counterfeiting wrote:
    Meaning in country lower denoms. Doesn't mean to take away from the large but to remove the large as they are part of the property... ;)
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    • Post n°7

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by Neno Wed Jul 10, 2013 5:41 pm

    He pointed out that the second reason that the process of deleting the zeros will reduce Alokiem digital currency and financial Almahacbah and may play to reduce the time, [b]effort and cost required to complete financial transactions and accounting as well as the possibility of [color=#663333]reducing the number of banknotes traded especially if it were printed banknotes categories big[/color][/b] wrote:
    Large notes for inter banking trade just like in the good ole USA. You can only reduce the number of notes by having large. So, believe the lobsters theory or mine. Mine is supported above..... ;)
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    • Post n°8

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by gundam701 Wed Jul 10, 2013 5:46 pm

    well i would like them to say that is what they are going to do when they delete the zeros, otherwise it is just speculation.
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    • Post n°9

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by charlie Wed Jul 10, 2013 5:56 pm

    gundam701 wrote:well i would like them to say that is what they are going to do when they delete the zeros, otherwise it is just speculation.

     Gundam,

    If it wasn't speculation, just imagine how many people (and some very rich people ) would have bought dinar.   Hard as it is, we just have to be patient and hopefully we will be glad we speculated and that we had the benefit of posts from those who offer their opinions after having studied all sorts of documents and articles.

    you are not alone that the wait isn't easy.
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    • Post n°10

    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

    Post by gundam701 Wed Jul 10, 2013 6:05 pm

    besides when was the last time the USA did that?  oh wait i just googled it and found out. U.S. currency previously included five larger denominations. Notes in the denominations of $500, $1,000, $5,000, and $10,000 were printed for general use, a $100,000 note was printed for certain internal transactions.



    • United States currency denominations above $100 are not available from the Department of the Treasury, the Federal Reserve System, or the Bureau of Engraving and Printing. On July 14, 1969, the Department of the Treasury and the Federal Reserve System announced that currency notes in denominations of [You must be registered and logged in to see this link.], [You must be registered and logged in to see this link.], [You must be registered and logged in to see this link.], and [You must be registered and logged in to see this link.] would be discontinued immediately due to lack of use. Although they were issued until 1969, they were last printed in 1945.



    • These notes are legal tender and may be found in circulation today; however, most notes still in circulation are probably in the hands of private numismatic dealers and collectors. 



    Like I said unless the Iraqi head of finance or whatever says that what they mean by deleting zeros is that will stop the circulation of the larger denominations and that you will be able to cash in for $100 dinars/$50 dinars/$10 dinars and that the larger denominations will not lose value by deleting the zeros then I will not believe it.  There are way too many articles out there over the years that say they are going to delete zeros and they are not going to. 


    Besides, the only way that they will have real value in the dinar if they delete the zeros is if they equate the dinar to gold.  For example, if 1 oz of gold was equivalent to $1,261.42 dinars that would be the equivalent of gold to USD. Now would they do that same ratio probably not. They would most likely make their's lower so if 1oz of gold is equivalent to $420 dinars then that would mean that the dinar to dollar ratio would be $3 to $1.  This method is the one the I like and hope for.  
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    Economic parliamentary: We asked the central bank is implementing a project to delete the zeros Empty Re: Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

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