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  1. #1

    The Dinar Daily, Friday Jan 2, 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts



    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

    ARTICLE LINK



  2. #2

    Re: The Dinar Daily, Friday Jan 2, 2015

    sczin11- HCL? COMPLETED AND IN BUDGET EFFECTIVE JANUARY 1, 2015



    Start working oil and financial Convention between Erbil and Baghdad


    Erbil, January 2 (PNA) - entered into the agreement signed between Erbil and Baghdad and for the export of oil and the federal budget went into effect starting from yesterday.

    Under the «agreement concluded by the Kurdistan Regional Government of Iraq with the federal government to export the region of 250 thousand barrels of oil through the port of Ceyhan in addition to 300 thousand barrels of oil per day from Kirkuk wells across the region's oil pipeline to Ceyhan.

    This agreement became part of the federal budget for 2015. » According to the findings of the two sides during the signing of the end of last year, the Convention entered into force starting from the first of January yesterday (January) this month.

    Said Najiba Najib MP in the Iraqi parliament that «the agreement for a period of one year and will continue until the end of this year, if the two sides committed themselves to implement, but if not one of the parties abide by its terms the second A party has the right not to fulfill his commitment, for the federal government to fulfill its commitment to the region, according to the Convention and contained Send the region's share of the federal budget amounting to 17 per cent », pointing out that« Iraq is facing difficult conditions following the war against Daash and lower oil prices, he needs to increase its oil revenues in addition to the current political process needs to come together and cohesion of the Iraqi components and also the political blocs » and showed that the Convention will continue to the end of this year if the parties committed to the implementation of its provisions.

    She Najeebeh «The two sides form a joint committee to look into the financial issues between them, Baghdad has want to learn imports of the region's oil and where to go and how they were spent, in turn demanding Irbil from Baghdad budget for the year last in 2014, and after that the Commission reach a solution to this issue is sent dues region».

    It is noteworthy that the Kurdistan Region staff entered the new year without receiving a final two months of last year, salaries, because the blockade imposed by the former Iraqi government to Erbil caused the financial crisis that lasted one year, and the only crisis did not include staff but covered all aspects of life, a lot of projects service and urban and commercial stopped during the past 2014 because of the blockade.

    By deputy in the Parliament of Kurdistan Fa'iq Mustafa said in a statement to the newspaper «Middle East»: «despite the accord reached by the parties to a preliminary agreement, not radical, but they have an important effect of the economic and political terms for all Iraqis, and this agreement makes open the door to dialogue between the two sides, to resolve Conflicts between the two radically ».

    Mustafa pointed out that the Parliament of the region is doing its best with the Government of the Territory in order to Kurdistan salaries that have not Estelmoha last year's exchange, during this month, and we are working in order not to repeat the entry salaries of employees in the political conflicts between the blocs in Iraq, and its use as a pressure, including use whenever they want against the other.

    Staff and the citizens of the region have had the lion's share of suffering in the light of the economic crisis experienced by the Kurdistan during the past year.

    Said Dara cream: «I married young, and I live in the house rent, I could not until now because of this crisis from paying house rent, I call on the parties to implement the Convention, including quickly to end this suffering and living stability».

    For his part, Saman beauty: «cut the Territory's budget over the past year has caused the collapse of the living situation with the Kurdish citizens, so now there is a state of optimism in the region after the two sides to reach an agreement, we are optimistic that the current federal government will meet its obligations direction of the region, even if fulfilled its obligations, the international side, which contributed to the rapprochement between Erbil and Baghdad will have an interview in this context. »

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.peyamner.com/Arabic/PNAnews.aspx%3FID%3D352801&usg=ALkJrhhkA_SUwCrg06qdBVmlDhBElTBBwg#sthash.vZsS 2Wwd.dpuf
    Last edited by sczin11; 01-02-2015 at 03:50 PM.

  3. #3

    Re: The Dinar Daily, Friday Jan 2, 2015

    Kurdistan Parliament: the agreement between Baghdad and Erbil preliminary and not a radical



    BAGHDAD - ((eighth day)) MP in the Parliament of Kurdistan Fa'iq Mustafa, oil agreement reached by the governments of Arbil and Baghdad preliminary agreement and not radical.

    Mustafa said in a statement reported for ((eighth day)) that "this agreement has had a significant impact of the economic and political terms for all Iraqis, and this agreement makes open the door to dialogue between the two sides, to resolve disputes between them radically.

    Mustafa pointed out that the Parliament of the region is doing its best with the Government of the Territory in order to Kurdistan salaries that have not Estelmoha last year's exchange, during this month, and we are working in order not to repeat the entry salaries of employees in the political conflicts between the blocs in Iraq, and its use as a pressure, including use whenever they want against the other. (AA)

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3382481&usg=ALkJrhh-A75gAXtLVDvQVB6uPC3wzbfIpA

  4. #4

    Re: The Dinar Daily, Friday Jan 2, 2015

    Economic parliamentary: Iraq starts to pay the costs of infrastructure law after three years

    BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic Committee in the House of Representatives, said that the federal government will pay the costs of infrastructure law to pay on credit worth five billion dollars in three years after the conclusion of contracts.

    Said committee member Najiba Najib's (IMN),. "The law, which contained the budget in 2015, which reached the House of Representatives regarding payment on credit for infrastructure projects urgent worth five billion dollars to ensure a period of grace to make repayment of the investment companies, three years after the conclusion of contracts."
    Najib added that "the government and in accordance with the law, they will receive requests from the provinces, including Kurdistan region for the implementation of infrastructure projects is an urgent manner of payment on credit worth does not exceed five billion dollars, that the federal government holds the Overture investment companies and conclude contracts with them that includes a provision to begin to repay the amount of money after three years from the conclusion of contracts. "

    Najib noted that "asylum federal government to put the text of the law in the federal budget on infrastructure projects to pay on credit comes after a drop in oil prices and the lack of ability of the annual budget to cover the costs of implementing infrastructure projects.

    The previous parliament had failed to approve the bill of infrastructure provided by the previous government worth up to $ 37 billion because of political differences and fear restrict the Iraqi economy with more financial obligations.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3382540&usg=ALkJrhg9nWopzQKzjZtjTehSgV9ZUuGvEg

  5. #5

    Re: The Dinar Daily, Friday Jan 2, 2015

    Parliamentary Finance meet next Sunday to discuss the budget

    Khandan -ali Naji Parliamentary Finance Committee announced it would begin to hold their first meeting to discuss the draft budget for fiscal 2015 Act, on Sunday, before the resumption of the House of Representatives sessions, which will begin next Wednesday.

    A member of the Committee MP for the Patriotic Union of Kurdistan capable Mohammed told the "Khandan": "He was supposed Finance Committee to hold a meeting on Saturday to discuss the budget bill, but postponed the meeting until next Sunday," he said, adding that "the meeting will discuss all the doors The budget also requests the parliamentary and proposals about them. "

    And between a member of the parliamentary finance committee that "the adoption of the budget in 2015 will be faster than the adoption of the 2013 budget, and that the lack of political differences around," expected "approval late this month or early next month."

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3382757&usg=ALkJrhiffK3jhBWjft0mY4iDr0M_q5SbIg

  6. #6

    Re: The Dinar Daily, Friday Jan 2, 2015

    Iraq's oil exports recorded the highest level in December since 1980



    Twilight News / A spokesman for the Iraqi Oil Ministry said on Friday that the average of the country's crude exports in December totaled 2.94 million barrels per day, its highest level since 1980.

    Industry officials said the country's exports from the southern ports hit a record high of 2.76 million barrels per day, according to Reuters reported and seen by "Twilight News".

    A spokesman for the Ministry of Oil The median sales price in December was $ 57 a barrel, while revenue amounted to 5.247 billion dollars.

    He added that full-year revenues of $ 84,215 billion.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3382773&usg=ALkJrhgWJNGhEHfw_PSCBgSPdIn7gCM8ug

  7. #7

    Re: The Dinar Daily, Friday Jan 2, 2015

    Work: wait Cabinet Secretariat authentication to increase the retirement of workers secured 50%

    Alsumaria News / Anbar
    She and the Ministry of Labour, on Friday, its willingness to implement the increase pensions for workers secured in the Social Security Act by 50%, while confirming that it was awaiting the General Secretariat of the Council of Ministers approval of the decision to increase.

    The general director of the Department of pension and social security for workers Hamid Tarish in a statement, "Alsumaria News" received a copy of it, "The House of the pension fund management and security and social workers decided to increase pensions for workers secured by 50% and all categories have been approved decision by the Minister for Labour Affairs Social Mohamed Xiaa Sudanese, "explaining that" the decision was referred to the General Secretariat of the Council of Ministers for the purpose of endorsing it. "

    He Tarish, that "the Department of pension and social security for workers awaiting the approval of the Secretariat of the Council of Ministers to enable them to act accordingly," explaining that "the retired workers within and mixed and cooperative private sectors not covered by Law No. (9) for the year 2014 and private national pension body because there is a law on retirement Department and social security for workers. "

    It is noteworthy that the Ministry of Labour are from time to time by setting dates for the distribution of secured employees' salaries according to lists prepared in advance, as part of the rights provided by the Social Security Act that.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3382828&usg=ALkJrhifX5uTEvjwMI1d9AiaZwI_gJAJoQ

  8. #8

    Re: The Dinar Daily, Friday Jan 2, 2015

    sczin11- Take a deeeep breath before you read this article...IMHO, THIS IS ACTUALLY GREAT NEWS! NO WHERE DOES IT STATE THEY WILL NOT RAISE THE VALUE OF THE DINAR...THEY CLEARLY DISTINGUIS BETWEEN THE DELETION OF THE ZEROES PROJECT, AND MONETARY REFORM... I BELIEVE THEY ARE STATING THEY DONT WANT TO MAKE DRASTIC CHANGES IN THEIR NOTES, AS THE SECURITY FEATURES ON THE NEW NOTES, IS HIGH TECH, AND UNTIL THEY CAN ELIMINATE ISIS, AND GIVE MORE FINANCIAL SECURITY TO THEIR PEOPLE, THEY WILL KEEP THEIR CURRENT MONEY IN PLAY...AGAIN, MONETARY REFORM CONTINUES. IN ADDITION, UP UNTIL NOW, WHEN THE CBI GOVERNORS OR FINANCE MP'S SPEAK OF THE CURRENCY MOVE, THEY STATE THE RAISING OF THE VALUE OF THE DINAR...HERE THEY TALK OF DELETION OF ZEROES AS AVREVALUATION OF CURRENCY...NEVER HEARD THEM STATE IT THAT WAY BEFORE! INTERESTING, AND TELLING IMHO...A BIG DISTINCTION BETWEEN THE TWO PROCESSES AND PLANS..
    ---

    A member of the parliamentary economy exclude deletion of zeros from the currency in the current year

    Excluded a member of the parliamentary economy, the deletion of zeros from the Iraqi currency in the current 2015.

    Said Najiba Najib told all of Iraq [where] today that "there was a project and plan but not short-term," pointing out that "this plan can be implemented within two years or more."

    Najib explained that "the main obstacle to this plan is the" security situation, which is currently gripping the country, "stating," We are waiting to take steps by the organization [OPEC] to limit the fall in oil prices. "

    "The current currency is not commensurate with the economic crisis that hit the country," asserting that "the success of the process of deletion of zeros from the currency need to executive and legislative plans."

    She noted that "the central bank alone can not implement this project but need to unite all the banks."

    He economist Jamil Antoine said earlier that the deletion of zeros from the currency is a currency revaluation structure,

    and to alleviate the large digital accounts burden treasurers, and alleviate the burden of accountants in counting the transfer of numbers, "noting that" this is not the time to replace the currency, and that to the lack of security and economic stability in Albulad.anthy 2

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3382956&usg=ALkJrhjSNY0CwUDiYQkeN6ClbAH5HZTorg
    Last edited by sczin11; 01-02-2015 at 03:42 PM.

  9. #9

    Re: The Dinar Daily, Friday Jan 2, 2015

    Quote Originally Posted by sczin11 View Post
    sczin11- Take a deeeep breath before you read this article...IMHO, THIS IS ACTUALLY GREAT NEWS! NO WHERE DOES IT STATE THEY WILL NOT RAISE THE VALUE OF THE DINAR...THEY CLEARLY DISTINGUIS BETWEEN THE DELETION OF THE ZEROES PROJECT, AND MONETARY REFORM... I BELIEVE THEY ARE STATING THEY DONT WANT TO MAKE DRASTIC CHANGES IN THEIR NOTES, AS THE SECURITY FEATURES ON THE NEW NOTES, IS HIGH TECH, AND UNTIL THEY CAN ELIMINATE ISIS, AND GIVE MORE FINANCIAL SECURITY TO THEIR PEOPLE, THEY WILL KEEP THEIR CURRENT MONEY IN PLAY...AGAIN, MONETARY REFORM CONTINUES. IN ADDITION, UP UNTIL NOW, WHEN THE CBI GOVERNORS OR FINANCE MP'S SPEAK OF THE CURRENCY MOVE, THEY STATE THE RAISING OF THE VALUE OF THE DINAR...HERE THEY TALK OF DELETION OF ZEROES AS AVREVALUATION OF CURRENCY...NEVER HEARD THEM STATE IT THAT WAY BEFORE! INTERESTING, AND TELLING IMHO...A BIG DISTINCTION BETWEEN THE TWO PROCESSES AND PLANS..
    ---


    A member of the parliamentary economy exclude deletion of zeros from the currency in the current year


    Friday 0.02 2 December / January 2015 14:54




    [Baghdad-where]


    Excluded a member of the parliamentary economy, the deletion of zeros from the Iraqi currency in the current 2015.


    Said Najiba Najib told all of Iraq [where] today that "there was a project and plan but not short-term," pointing out that "this plan can be implemented within two years or more."


    Najib explained that "the main obstacle to this plan is the" security situation, which is currently gripping the country, "stating," We are waiting to take steps by the organization [OPEC] to limit the fall in oil prices. "


    "The current currency is not commensurate with the economic crisis that hit the country," asserting that "the success of the process of deletion of zeros from the currency need to executive and legislative plans."


    She noted that "the central bank alone can not implement this project but need to unite all the banks."


    He economist Jamil Antoine said earlier that the deletion of zeros from the currency is a currency revaluation structure,

    and to alleviate the large digital accounts burden treasurers, and alleviate the burden of accountants in counting the transfer of numbers, "noting that" this is not the time to replace the currency, and that to the lack of security and economic stability in Albulad.anthy 2


    http://translate.googleusercontent.c...N6ClbAH5HZTorg
    I have read this 3 times and I feel the same way. I want to see this end as much as anyone but when the rubber meets the road I feel the same way you do. Their time frame NOT OURS but they will do this and it will be soon. Their desire to join the world as an economic power with Abidi as the head of the new Iraq is unquestionable they are moving to do this .
    Blessings
    jim

  10. #10

    Re: The Dinar Daily, Friday Jan 2, 2015

    Aajl..alinvt: export 2.94 million barrels a day last month, the highest since the eighties



    Oil Ministry announced export 2.94 million barrels, a daily rate of export during the month of December last, the highest since the eighties Almadi..itba century

    http://goo.gl/ygVV6S

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