“No Deletion of Zeros” from Dinar in 2013

By John Lee.

A member of the Parliamentary Finance Committee has ruled out dropping the three zeros from the Iraqi currency in 2013 because “the ground is not prepared yet”.

MP Majida al-Timimi told AIN:

The process of deleting zeros from the Iraqi currency in 2013 depends on the nature of the policy of the Central Bank of Iraq’s new governor.

“[The] committee did not received a letter from the CBI about this proposal or postponing it.

The MP cited fears of counterfeit dinars, resulting in inflation, as one of the reasons for the delay.

(Source: AIN)

13 Responses to “No Deletion of Zeros” from Dinar in 2013

  1. Daddy warbux December 19, 2012 at 6:35 am #

    And on Feb 5 this (The EXACT opposite)is what was said… “Excluded by the parliamentary Finance Committee, Majida al-Tamimi, the lifting of the zeroes from the currency in 2013, noting that “the earth is ripe for replacement.”

    Tamimi said in a statement told all of Iraq [where], “The process of lifting the zeros from the currency in 2013 depends on the nature of the policy of the new central bank governor,” adding that “according to the previous vision of the bank is supposed to be raised.”

    I love Propaganda campaigns….. What a bunch of garbage.

  2. Fistfull of Dollars and cents December 19, 2012 at 2:24 pm #

    Yes, agree. Propaganda campaign could use a little more imagination,
    seems self contradicting every time a reason is given for delay of deletion of zeros.

    Ground not prepared yet? Pump more oil!
    FistFull of Dollars and cents

  3. 2COLLECTG December 19, 2012 at 8:26 pm #

    waiting on the return of REAL GOV OF CENTRAL bank sinan shabbi!

  4. omar December 20, 2012 at 6:20 pm #

    Shabibi is history!

  5. Hojos Blowert December 21, 2012 at 6:36 pm #

    At last the pieces are fitting together. Now, as Treasuries need resolution, information exchanges are taking place. Now, we all need each other, so truth is leaking.

    As always, once it becomes multi party dependent, finding the real access point is the key.

    What we have ONLY established today is as follows:
    • The RV’s have to be ready to underpin the new Dinar Market Exchange Rate by 21th December, for launch on the following (24th) Mondaywhich, is not a Holiday in the Muslim world. Even more so, Iraq has to be underpinned by a new Treasury Bond launching early February, Dinar based.
    • Bernanke is fully behind it now playing Catch Up.
    • The money from the Global Settlements has to be used to underpin the release of the Dinar Exchange over the next week. Which means, the GS is critical each day now, or it has knock on consequences for the RVs next week. If not accomplished, the Iraqi Bond market will fail. The GS has to go first, before the RV’s, this having only been established today. No one seemed to know that.
    • The money needed to cross underpin all of this is under Cabal and Bernankes control. Which means, hidden in the background, will be Greenspan and Ferguson liquidating Ponzi money trading positions fast.
    • We are on a countdown of days. Failure will tail spin the Global economies and stall the Middle East Sovereign Growth Plan. No Dinar, Iraq fails the US carries the can.
    • No GS means no Dinar. Catch 22.
    • Apparently the true reason for release failures has been the sheer extent to which each currency block held, has been propping up vast leveraged banks positions acting as Debt Guarantees for further Fed loans etc. Removing any has a Stack of Cards effect. Collapsing the lot was never an option. The problem has been, substituting Debt from other areas to compensate for amounts due to be released for the GS. This today is STILL Bernanke’s dilemma, but being resolved soon.
    • So, the whole stacked deck is being re dealt by accomplished bottom dealers. It is all time critical by the hour.
    Now it all assumes a logical progression. I understand Ben’s dilemma. He inherited this crock. He alone has kept it together. Now it starts to profile as achievable at last.

  6. Stew December 22, 2012 at 8:54 pm #

    3 dinar dealers were indicted for fruad for posting stuff like this.

  7. Rina December 23, 2012 at 9:13 pm #

    Hey Stew I did post a comment on another subject well it was more a question to you . Can you check it and give your opinion?

  8. 2collectg December 24, 2012 at 11:06 pm #

    stew thinks ALL OF THE BIGGEST MONEY MAKERS ARE SCAMMING THE WORLD BY INVESTING IN THE IQD!! from the IMF THE WORLD BANK THE DUBIA BOURSE THE ARAB MONETARY FUND JAPAN GREAT BRITIAN GERMANY US AND ALL THE OTHER MONEY MOVERS ARE SCAMMING THE WORLD! I FIND THAT AMAZING!!! IRAQ JUST BOUGHT 37.1 TONNES OF GOLD STEW WAKE UP MAN THE DINAR IS A REAL CURRENCY AND IRAQ HAS ALREADY STATED THEY WANT TO RETURN TO WHERE THEY WERE IN THE ECONOMIC COMMUNITY! a wise man once said EITHER YOU HAVE PATIENCE OR YOU BECOME THE PATIENT!

  9. 2collectg December 24, 2012 at 11:08 pm #

    AND YES STEW I AGREE NO ONE SHOULD BE PUMPED TO MAKE AN INVESTMENT SO EVERYBODY DO YOUR HOME WORK BEFORE INVESTING IN ANYTHING!!!

  10. GT5Junkie January 6, 2013 at 8:01 pm #

    Here’s some homework for you, 2collectg, that you may have missed:

    Saudi Arabia:
    GDP (in USD): 577 billion
    Money supply (M2, in USD): 309 billion
    M2/GDP ratio: 0.54

    UAE:
    GDP: 360 B
    M2: 225 B
    Ratio: 0.63

    Venezuala:
    GDP: 316 B
    M2: 156 B
    Ratio: 0.49

    Kuwait:
    GDP: 177 B
    M2: 103 B
    Ratio: 0.58

    Turkey:
    GDP: 773 B
    M2: 259 B
    Ratio: 0.34

    Iraq:
    GDP: 115 B
    M2: 65 B
    Ratio: 0.57

    Notice that Iraq’s total currency value (right now, at the 0.00086 rate) falls right in the middle of that range. I.e., exactly where it should be, and where you would expect it to be.
    What happens if they “RV” their currency? Then:

    GDP: 115 B
    M2: 7,500 B
    Ratio: 65.2

    At 1 to 1:
    GDP: 115 B
    M2: 75,000 B
    Ratio: 652

    At 3 to 1:
    GDP: 115 B
    M2: 225,000 B
    Ratio: 1956

    Why should Iraq have 100 times to 3,000 times as much currency as Saudi Arabia? Any explanation? Right now Saudi’s ratio is lower than Iraqs, yet Saudi is far more stable and produces far more oil. Why aren’t you looking at Saudi to increase their currency value by 10,000 to 300,000 percent?

  11. Seriously February 25, 2013 at 11:39 pm #

    Look I bought dinar back in 04 I still have it , I believe they will drop a zero but not 3! Or they will remove certain denominations. Either way the way the wait is ridiculous we are now in a time where something is going to happen. So suck it up and wait!

  12. truthhurts March 11, 2013 at 11:50 pm #

    Why would they RV the current Iraq dinars? These were printed many years ago.The people who are holding vast amounts of these notes, are not friends to the current leaders.

    Why wouldn’t the current leaders just print a ‘new series’ of currency? And obsolete the old one? This way they will make sure it goes to the people they want. TIA

  13. Sameir Hussan April 15, 2013 at 12:45 pm #

    Hi,

    I heard this morning April 15, 2013 and the source was one of Iraqi newspaper that Iraq will drop 3 zeros from the Iraqi Dinar.