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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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    Views on ways to absorb the large money supply

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    • Post n°1

    Views on ways to absorb the large money supply Empty Views on ways to absorb the large money supply

    Post by Proven Thu 14 May 2015, 11:35 am

    Views on ways to absorb the large money supply

    Leila Ahmed

    14.05.2015

    The views of specialists in the affairs of finance and economy on absorb the large money supply, as these found that the process of deletion of zeros is currently viable, while others called for the issuance of Banknotes large categories.

    The prime minister for economic affairs adviser appearance of Mohammed Saleh Iraq need to print cash categories of 50 000 dinars and 100 thousand dinars, in order to accommodate the large money supply, which covers market.

    Saleh explained that large categories account for 90% of the traded currency, pointing to the existence of a cash amount less than 40 trillion dinars are being traded in the market, and that a large cash categories will reduce the quantity to four billion coins, noting that the issuance will not lead to increase the rate of inflation.

    The economic expert Hilal Taan sees the difficulty of resorting to delete the zeros of the Iraqi paper currency back to economic, political and security situation in Iraq, but at the same time Aaaad issuing large cash categories because it will lead to an increase in inflation.

    But economic analyst Bassem Jamil Antoine believes that the issuance of large cash categories will help facilitate the work of banks and portability, especially since the Iraqi citizens prefer to deal in cash to a lack of confidence in banks or dealing cards.

    He stressed that the issue of large cash categories are part of the restructuring of the money as long as the government is unable at this time to delete the zeros of the Iraqi paper currency in circulation due to the instability of the economic and political situation.

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    Last edited by Proven on Thu 14 May 2015, 1:49 pm; edited 3 times in total (Reason for editing : add highlights)
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    • Post n°2

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    Post by Proven Thu 14 May 2015, 12:05 pm

    Central Bank: the timing of the restructuring of the currency and delete the zeros is currently Matrouh

    03/02/2014

    Tomorrow's Press / Baghdad: Take the Central Bank of Iraq, Sunday, that the timing of the restructuring of the currency and delete the zeros of which is under discussion at the present time.
    The bank said in Payne received "tomorrow Press",

    "The timing of the restructuring of the Iraqi currency and delete the zeros not on the cards now, because such a project is in coordination with the Iraqi government and its relevant institutions," denying "direct project restructuring currency next year and the deletion of zeros three of them. "

    The statement added that "the Bank promises to the public for his note any actions related to the scope of responsibility, including this issue."

    The central bank announced last year, 2012, its intention to put up three large groups after deleting three zeros from the Iraqi dinar, pointing out that the process of replacing the currency will take two years, while considered by many economists that Iraq is not formatted for the time being to delete the zeros of Danarh , pointing out that the deletion needs to stabilize the security and political as well as economic stability


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    • Post n°3

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    Post by Proven Thu 14 May 2015, 12:18 pm

    Information on the issuance of a new Iraqi currency. Soon

    Baghdad/safe golden

    The Central Bank seeks to delete the three zeros of the Iraqi currency since 2003. Which raises many concerns on the street level and the business and financial community and economists seem divided between supporters of the project saw an opportunity to reduce the rates of inflation and unemployment and forewarned of economic shocks might prevail in the Iraqi market by implementing this project.

    The project has been postponed after the Central Bank introduced its amendments, most of the time because of fears based on the most unruly security situation and open market to foreign goods and counterfeit currency circulating on the market in addition to rampant corruption in the country.

    The Iraqi news agency quoted a member of the Finance Committee in Parliament, Abdul Hussein Al-yasiri in fourth from last September as saying that 2014 will delete the zeros of the Iraqi currency, in coordination with the Central Bank. Al-yasseri said that this project will reduce the size of the national currency in circulation of four billion Iraqi dinars to 1 billion.

    , Said the Chairman of the Finance Committee in the House of Haidar Al-Abbadi, it is possible to delete zeros from the current currency, but it has been postponed until after the parliamentary elections, adding that studies are now to establish safeguards to reduce fraud, and make sure that trading in the current currency.

    The process of deleting zeros was postponed more than once, until called on Parliament's Economic Committee, reported channel "East" on the 7th of July, the Central Bank, to speed up the process of deletion of zeros of the Iraqi currency in a press conference that the deletion of zeros will increase the value of the Iraqi dinar will be reflected positively on the issue of reducing unemployment and poverty in the country.

    But the financial advisor in the "North Bank" beneficial Elias said that the deletion of zeros are only administrative, process equation of cash must remain as they are, that the purchasing power of the new currency must be equal to the old currency. Elias said that trading in both currencies for up to three years old to withdraw gradually from the market. Elias predicted that highlights the problems if not resolved operations of the creditor and the debtor or if the any payments and withdrawals. But it would not affect inflation rates or poverty.

    , Vice Chairman of the Finance Committee in the Iraqi Parliament Ahmed Faizullah the wholesome Elias, noting that the deletion of zeros will not alter the purchasing power of the Iraqi dinar because it is linked to the volume of industrial production and import. What saved the Iraqi dinar is owning the Central Bank cash reserve of hard currency might formed engaging cover to the dinar. Called Faizullah to not implement the project at this time because it could confuse the market and citizens alike.

    Amid those views the Commissioner for "Breeze" stock trading for enas Mohammed that the stock market will be affected by the change and delete the zeros. The stock is still selling dinar, currently equal to a thousand shares, while will become one new dinar after the deletion of zeros equals 000, which could confuse the stock market basically confused movement due to the security situation in the country.

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    Last edited by Proven on Thu 14 May 2015, 1:55 pm; edited 1 time in total (Reason for editing : add highlights)
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    • Post n°4

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    Post by Proven Thu 14 May 2015, 12:25 pm

    Deletion of Zeros or Currency Restructure Postponed; Implemented most likely After 2014 Elections and Formation of Government – Says Committee Member

    Posted by Iraq News Journal on Dec 11, 2013 | Leave a Comment

    Announced the parliamentary Economic Committee, the central bank to postpone the project raise zeros from the Iraqi currency to the next parliamentary session.

    Committee member, said the MP for the Kurdistan Alliance, Najiba Najib, told all of Iraq [where], “The project to delete the zeros feet of the previous administration of the Central Bank at the time of any Shabibi former Fed governor . “

    She added: “There were preparations and preparations by the administration about those restructure the currency , including the Iraqi delete the zeros, and they had the good steps taken by them on this issue and were waiting for government approval to start the project. “

    Najib explained that “the new administration of the Central Bank, which is headed by Abdel Basset Turkish agency has other plans and procedures,” indicating that they are “looking at the project raise zeros that he is not in too early.”

    And saw an MP for the Kurdistan Alliance, the deletion of zeros as a “necessity” because the figures in the current difficult currency counted, but keep the central bank is the owner of the decision to choose the time of implementation of this project. “

    She Najeebeh the belief that “near the parliamentary elections to make the central bank thinks postponing the implementation of the deletion of zeros or restructure the currency beyond the elections and the formation of a new government. “

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    • Post n°5

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    Post by Proven Thu 14 May 2015, 12:40 pm

    The point of all these articles is the restructuring of the currency is part of the delete the zeros project.    

    Of note, here is support for monetary reform will coinside with economic reform:

    the deletion of zeros will increase the value of the Iraqi dinar will be reflected positively on the issue of reducing unemployment and poverty in the country.

    If it is not part of economic reform, than this is true:

    Vice Chairman of the Finance Committee in the Iraqi Parliament Ahmed Faizullah the wholesome Elias, noting that the deletion of zeros will not alter the purchasing power of the Iraqi dinar because it is linked to the volume of industrial production and import.

    This is the choice the Iraqi government faces, and thus the discussion of larger notes versus larger value notes.  


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    • Post n°6

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    Post by csd9013 Thu 14 May 2015, 1:48 pm

    Proven wrote:Information on the issuance of a new Iraqi currency. Soon

    Baghdad/safe golden
    The process of deleting zeros was postponed more than once, until called on Parliament's Economic Committee, reported channel "East" on the 7th of July, the Central Bank, to speed up the process of deletion of zeros of the Iraqi currency in a press conference that the deletion of zeros will increase the value of the Iraqi dinar will be reflected positively on the issue of reducing unemployment and poverty in the country.

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    7th of July? Someone explain what I should be watching for on this date. Thanks.
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    • Post n°7

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    Post by Proven Thu 14 May 2015, 1:52 pm

    csd9013 wrote:
    Proven wrote:Information on the issuance of a new Iraqi currency. Soon

    Baghdad/safe golden
    The process of deleting zeros was postponed more than once, until called on Parliament's Economic Committee, reported channel "East" on the 7th of July, the Central Bank, to speed up the process of deletion of zeros of the Iraqi currency in a press conference that the deletion of zeros will increase the value of the Iraqi dinar will be reflected positively on the issue of reducing unemployment and poverty in the country.

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    7th of July? Someone explain what I should be watching for on this date. Thanks.

    This article was from 2013.  July 7th appears to be when the statement was made.
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    • Post n°8

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    Post by csd9013 Thu 14 May 2015, 3:09 pm

    Thanks, Proven.
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    • Post n°9

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    Post by duck2000 Thu 14 May 2015, 5:57 pm

    delete the zeros of the Iraqi currency, in coordination with the Central Bank. Al-yasseri said that this project will reduce the size of the national currency in circulation of four billion Iraqi dinars to 1 billion.

    so they think it will reduce the amount somewhere three and change also?
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    • Post n°10

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    Post by Neno Thu 14 May 2015, 6:13 pm

    Three and change?..... hum
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