Banking expert: Delete the three zeros from the Iraqi currency will impact positively

Hat tip to Carlablum on the forum:

Banking expert: Delete the three zeros from the Iraqi currency will impact positively on the Iraqi economy
2010-05-09 12:47:49 05/09/2010 12:47:49

BAGHDAD (Iba) Iraqi bank expert said that the process of deleting three zeros from the Iraqi currency will have a positive impact on the Iraqi economy to Tahedvh of an amendment to the conditions of the Iraqi currency in general.

Said Abdul Aziz Hassoun in contact with the agency, the independent press (Iba) “Many countries have taken action himself, including Turkey, which deleted six zeroes from the currency, and therefore the right of the Iraqi Central Bank could adjust the exchange rate this way, especially since there is a difference large numbers no longer reflects the value of domestic production of Iraq. “

“If the exchange rate is adjusted properly the matter would be meaningful as a whole, especially the central bank set the mechanisms and plans for the replacement of banknotes in another new value and the form and a suitable period to allow replacement of all their bank notes.”

21 Responses to “Banking expert: Delete the three zeros from the Iraqi currency will impact positively”

  1. bcool says:

    adam .. whats your thoughts on this

  2. WINO says:

    That ali knew about this all along with his buddies.They just want to rop everydody and take everything you got until you flat broke.What a shame.

  3. WINO says:

    Sorry Adam,im gonna used for the bathroom and the fire place.

  4. Vickie says:

    Adam, when or if this happens, where would we take the dinar to have it exchanged to the new currency? And are we assuming that when we are to exchange it…it may be worth more and therefore we should get more in the exchange? Thanks, Confused ;0)

  5. C. Diller says:

    Adam, can you shed some light on this? Is this just more speculation news? Or is this the real thing?
    Please respond.

  6. Vickie says:

    Adam, did I miss a conference call this weekend, or is it in the next day or so? I am anxious to hear about investment info, etc. I have been looking for a job and things look promising. So hope to have additional funds to start expanding my Iraqi investments.

  7. Rodney says:

    So Adam…

    If this were to happen, would it apply also to Dinar held in accounts??? Say you have 500,000 in Warka, would it becaume 500???? Why or Why not?


  8. panu says:

    Adam………does it simply means that the currency we have kept since last 7 years will be returned without any prophet?????????????????????

  9. panu says:

    are they deleing zeeros from notes or from the value of iraqi dinar in intrnational market which is sumthing 0.000859???????????????any comments?????????????????

  10. dinardave says:

    looks like the lop back in play.

  11. B-Rizzle says:

    Adam, right on. I’m buying as much as I can afford!!

  12. Kyle says:

    It may be good for the Central bank, but what about the poeple??? will a 25k note be just 25?? If so, that would suck, we would all lose money.

  13. Brian says:

    Adam, Does this mean 25000 dinar is worth 25
    or does it mean $1 = .86?

  14. Greengrass8888 says:

    look people, This dinar as sometime to go yet(7 months). Yes it may Loop and you may get back what you paid for it and a little bit extra on top but the Iraqi’s arn’t that stupid there not going to give you million’s so get real people. this is a small investment don’t take in all this Bull from these GURU’s they don’t known “NOTHING”. I can say Tomorrow, next Day,Thursady, Sunday, Next week.There only Pumping this to get you to buy more Dinar. So keep what you got and have a nice Christmas?

  15. bradc says:

    Mr. Said Abdul Aziz Hassoun, is a life long academia/thinker. I do not question his opinion but I doubt he has any influence on the Dinar. Unless he has ties to the IBC.

  16. Matthew O'Connor says:

    I must say, the ones on here making the most noise and apparently negative comments seem very uneducated – if you cannot spell properly, use words properly, what in the name of God are you doing on this site. It’s a gamble and if you can’t afford to lose it, get out of the betting game. Nothing in life is certain, apart from death. Stop moaning and get on with life.

  17. Vince says:

    look, the deal is that they are going to knock off 3 zeroes but, it’s not a lop. what it is is just a bill denom, they will still carry the same value and i can guarantee (i live in iraq)that when this denom happens the RV is going to follow therein due to the fact the denom won’t help the economy by itself. there is no way to lose money here and if you make a penny, then investment well spent. have a nice day

  18. Vince says:

    what is the deal on global arab network? they are showing 1 USD = 1 IQD. can you speculate on this and give some information perhaps?

  19. c w says:

    We all bought dinars for an investment and some also bought to help Iraq. Our profit is based on number of dinars sold back to Iraq not whether 25,000 dinars is of equal value to 25 dinars loped. It is not my concern if a loaf of bread costs 25,000 dinars or 25 dinars.What I am concerned with is the number of dinars I have vs. exchange rate=(RV). I do care if they take the zeros away because that is our profit being stolen by the Iraq goverment. Look at it ths way -1,000,000 dinars at .10 (RV) = 100,000 dollars or 1,000,000 loped to 1,000 needs an (RV) rate of $100 to equal 100,000 dollars. The removal of the three zeros is a classic bait and swith con game. This is not a good thing for the goverment of Iraq to do because they are trying to improve their international credit rating and reputaion as a goverment that can be trusted. If they want the large denomination bills off the street they should pay the RV of the denominations we have and then they can do whatever they want with the bills we sell back to them. They need to honor our purchase of the denominations which we have and not bait and switch by revising the denomination to a value of one percent of what we have purchased.

  20. Squaredaway says:

    Have you answered the above questions? Where can we see the answers?

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