Posted on 01 April 2014.
By Nora Lenderby.
Iraq Business News is pleased to announce that our intrepid reporter John Lee has been honoured with an award from the Goldman-Rothschild Institute for Monetary Efficiency.
Although no formal announcement has been made, we understand that the award relates to the maintenance of monetary stability in Iraq.
At first Mr Lee was reluctant to discuss the award, which was conferred at a private ceremony at the organisation’s underground headquarters deep in the Swiss Alps, but when pressed he said it was given in recognition of his efforts in helping to limit the number of beneficiaries of the recent thousand-fold revaluation of the Iraqi Dinar (IQD).
“What people don’t yet know,” he said, “is that the ‘Big RV’, the Global Currency Reset (GCR), has already happened, and the big players have all cashed out. That door is now closed – job done. We’ve turned our billions of dollars into trillions of dollars.”
Posted in Blog
Posted on 01 April 2013.
By Marc Snaid.
The Central Bank of Iraq (CBI) has announced that the introduction of the new Iraqi currency has been further delayed due to teething problems with the cutting-edge technology that it will employ.
Radical new functionality including fingerprint recognition and near-field communication (NFC) promises to create a world-leading new monetary system, which will be the envy of governments around the world.
Several years of collaboration between the CBI, the World Bank, and Goldman Sachs, has made it possible to create a database to track the location and ownership of each dinar note, making the monitoring of transactions much easier.
Professor John Frink, of Springfield Heights Institute of Technology, who worked on the program, explained:
“Each note already has its own serial number, so it is a simple matter to set up a database to record the location and movement of each note.
“Near-field communication, which is already used in contact-less credit and debit cards, allows the notes to communicate with your mobile phone [cellphone] and relay information to our computers.
“Touch-sensitive paper can even record the user’s fingerprint, for additional peace of mind.“
Posted in Banking & Finance