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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2019


Economists then wonder the government's insistence on the use of "penny" cash as a unit

rocky
rocky
NNP TEAM
NNP TEAM

Posts : 188837
Join date : 2012-12-21

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by rocky on Wed 10 May 2017, 4:22 am


Economists then wonder the government's insistence on the use of "penny" cash as a unit


Wednesday 10 May 2017 08:06


Alsumaria News / Basra
Economists experts from the province of Basra, their surprise at the insistence of the Iraqi government to use (penny) in cash as a unit of accounting receipts for most of the institutions and departments despite the fact that "penny" of the extinct trading three decades ago.

A professor of economics at the University of Basra d. Nabil Marsoumy in an interview with Alsumaria News for, " The accounting receipts used by most government departments in Iraq , where the amounts columns are divided into two parts , one dinar and the other fils, which is surprising because the penny is no longer circulating for more than thirty years , " noting that " government accounting receipts remain unchanged reflects the extent of the failure of management thought, so that the hand of reform did not extend so far intuitive to simple details are handled thousands of times a day. "


Marsoumy pointed out that " the dirham , which enjoyed greater penny cash value is no longer used for a long time , " adding that "administrative leaders in the country if they are not able to change receipts and a small paper , how can develop the economy and achieve administrative reform."

For his part, President of the Iraqi Economists Association in Basra , Ali Alaill said in an interview with Alsumaria News for, " The world has come a long way in the application of electronic accounting systems and we are still use receipts and paper recognize fils cash as a unit , " adding that "addressing this gap does not require administrative genius nor financial allocations, but need only a simple guidance from the cabinet Secretariat to the ministries to delete a column from the penny receipts circles. "

Alaill pointed out that " the sons of the new generation do not know anything about the penny , except the old amateur currency collecting them."

The penny was one of cash categories traded in Iraq, and since the Ottoman era and even the extinction of trading was coining of copper to lower its value, it is the smallest unit of cash, and this afternoon is common ideals (not equal fils) to indicate the lack of importance of the thing, and during their occupation of Iraq period decided Englishmen in 1920 , the abolition of the penny trading with the rest of the units of the Ottoman currency, then work it back as a cash junior starting in 1932, and continued the penny in circulation until the early eighties, perhaps so far, at least in receipts and accounting records used by many government departments , including Directorates and municipal water Municipalities, education, traffic, communications and health.

[You must be registered and logged in to see this link.]
Screwball
Screwball
Interacting Investor
Interacting Investor

Posts : 3438
Join date : 2012-12-19

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by Screwball on Wed 10 May 2017, 4:56 am

Where's the duckster comments on this one?
weslin3
weslin3
Interacting Investor
Interacting Investor

Posts : 7262
Join date : 2012-12-19

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by weslin3 on Wed 10 May 2017, 9:12 am

Would like to hear input on this also... bounce


hum
noced71
noced71
Cain't Let Go Investor
Cain't Let Go Investor

Posts : 360
Join date : 2012-12-19

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by noced71 on Wed 10 May 2017, 9:32 am

....hmmm...why would the Iraqi government need to use Penny's....hmmmmmm?? Can't. Help. But. Wonder. Lol scratch
wciappetta
wciappetta
NNP TEAM
NNP TEAM

Posts : 5024
Join date : 2012-12-20

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by wciappetta on Wed 10 May 2017, 11:01 am

Folks this is too simple here laugh laugh laugh laugh laugh they're questioning why the government wants to use "Fils" in their accounting.... I can think of only one reason..... It's the same EXACT REASON WHY THE BANK OF Baghdad YEARS BEFORE WAS ASKED TO RUN A SECOND SET OF CALCULATIONS USING THE OLD RATE .... All these little telegraphed revalue inferences

the key here IMO is the mention of the penny being used in the 1980's. I'm sure its a translation difference.. but they are definitely speaking of fils here, not penny's as we understand them....obviously you would need them to make change post RV....

From Wikipedia:


Coins were introduced in 1931 and 1932 in [You must be registered and logged in to see this link.] of round 1, and 2 fils in bronze, and scalloped 4, and 10, fils in nickel. 20, 50, and 200 fils were 50% silver. The 200 fils coin is also known as a rial. Bronze substituted nickel in the 5 and 10 fils from 1938 to 1943 during the World War II period and reverted to nickel in 1953. Silver 100 fils coins were also introduced in 1953. These coins first depicted [You must be registered and logged in to see this link.] from 1931-1933, [You must be registered and logged in to see this link.] from 1938, and [You must be registered and logged in to see this link.] from 1943 until the end of the kingdom.
Following the establishment of the Iraqi Republic, a new series of coins was introduced in denominations of 1, 5, 10, 25, 50, and 100 fils, with the 25, 50, and 100 fils in silver until 1969. In this series an allegorical sun replaced the image of the king, shapes and sizes remained the same with the exception of the 1 fil which was [You must be registered and logged in to see this link.] shaped. This image was then replaced by three palms in 1968. In 1970, 250 fils pieces were introduced, followed by 500 fils and 1 dinar coins in 1982. A number of the coins for 1982 were a commemorative series celebrating Babylonian achievements. During this period, many of the coins were identified by their shape due to being made of similar composition metals, as from 1980 onward 250 fils were octagonal, 500 fils square, and 1 dinar decagon shaped. Coin production ceased after 1990 due to the emergency conditions generated by [You must be registered and logged in to see this link.] and international sanctions.



From the article: [notice this guy references the penny as being the fil....]

A professor of economics at the University of Basra d. Nabil Marsoumy in an interview with Alsumaria News for, " The accounting receipts used by most government departments in Iraq , where the amounts columns are divided into two parts , one dinar and the other fils, which is surprising because the penny is no longer circulating for more than thirty years


_________________
[You must be registered and logged in to see this link.] For I know the thoughts that I think toward you, saith the LORD, thoughts of peace, and not of evil, to give you an expected end. Then shall ye call upon me, and ye shall go and pray unto me, and I will hearken unto you. And ye shall seek me, and find me, when ye shall search for me with all your heart.
noced71
noced71
Cain't Let Go Investor
Cain't Let Go Investor

Posts : 360
Join date : 2012-12-19

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by noced71 on Wed 10 May 2017, 11:11 am

[You must be registered and logged in to see this link.] wrote:Folks this is too simple here laugh laugh laugh laugh laugh they're questioning why the government wants to use "Fils" in their accounting.... I can think of only one reason..... It's the same EXACT REASON WHY THE BANK OF Baghdad YEARS BEFORE WAS ASKED TO RUN A SECOND SET OF CALCULATIONS USING THE OLD RATE .... All these little telegraphed revalue inferences

the key here IMO is the mention of the penny being used in the 1980's. I'm sure its a translation difference.. but they are definitely speaking of fils here, not penny's as we understand them....obviously you would need them to make change post RV....

From Wikipedia:


Coins were introduced in 1931 and 1932 in [You must be registered and logged in to see this link.] of round 1, and 2 fils in bronze, and scalloped 4, and 10, fils in nickel. 20, 50, and 200 fils were 50% silver. The 200 fils coin is also known as a rial. Bronze substituted nickel in the 5 and 10 fils from 1938 to 1943 during the World War II period and reverted to nickel in 1953. Silver 100 fils coins were also introduced in 1953. These coins first depicted [You must be registered and logged in to see this link.] from 1931-1933, [You must be registered and logged in to see this link.] from 1938, and [You must be registered and logged in to see this link.] from 1943 until the end of the kingdom.
Following the establishment of the Iraqi Republic, a new series of coins was introduced in denominations of 1, 5, 10, 25, 50, and 100 fils, with the 25, 50, and 100 fils in silver until 1969. In this series an allegorical sun replaced the image of the king, shapes and sizes remained the same with the exception of the 1 fil which was [You must be registered and logged in to see this link.] shaped. This image was then replaced by three palms in 1968. In 1970, 250 fils pieces were introduced, followed by 500 fils and 1 dinar coins in 1982. A number of the coins for 1982 were a commemorative series celebrating Babylonian achievements. During this period, many of the coins were identified by their shape due to being made of similar composition metals, as from 1980 onward 250 fils were octagonal, 500 fils square, and 1 dinar decagon shaped. Coin production ceased after 1990 due to the emergency conditions generated by [You must be registered and logged in to see this link.] and international sanctions.



From the article: [notice this guy references the penny as being the fil....]

A professor of economics at the University of Basra d. Nabil Marsoumy in an interview with Alsumaria News for, " The accounting receipts used by most government departments in Iraq , where the amounts columns are divided into two parts , one dinar and the other fils, which is surprising because the penny is no longer circulating for more than thirty years
.....boom.
mochasmom
mochasmom
Interacting Investor
Interacting Investor

Posts : 2993
Join date : 2012-12-19

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by mochasmom on Wed 10 May 2017, 11:39 am

BAM!!
weslin3
weslin3
Interacting Investor
Interacting Investor

Posts : 7262
Join date : 2012-12-19

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by weslin3 on Wed 10 May 2017, 12:40 pm

And it could be boom and bam anytime... Things are in place. I think... 306
mochasmom
mochasmom
Interacting Investor
Interacting Investor

Posts : 2993
Join date : 2012-12-19

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by mochasmom on Wed 10 May 2017, 12:57 pm

Waiting on those lower denoms
weslin3
weslin3
Interacting Investor
Interacting Investor

Posts : 7262
Join date : 2012-12-19

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by weslin3 on Wed 10 May 2017, 1:06 pm

Yeah, waiting on a few things, but all could come together at the same time... BAM! BOOM!

Sponsored content

 Economists then wonder the government's insistence on the use of "penny" cash as a unit Empty Re: Economists then wonder the government's insistence on the use of "penny" cash as a unit

Post by Sponsored content


    Current date/time is Fri 14 Aug 2020, 4:29 am