Today another article on economic reform and today this
article confirms that it needs parliament approval as well.
Quote: the importance of approving a
bill to economic reform in the Iraqi parliament after being approved by the
Council of Ministers at its previous
And this quote from the minutes of PM al-Maliki and the CoM
meeting on the 13th:
Quote: submitted
it to the Council of representatives
Good timing if you ask me since parliament returns on
Tuesday of next week.
Oh right, here is another funny timing article in my
opinion:
Link: Parliamentary Finance reveal postpone the deletion of zeros
until after parliamentary elections
OK, is it just a coincidence that we now have out an
article that says the deleting of zeroes have been postponed until after the election?
The same article using the exact same language is also out but from another
source. No coincidence but a planned statement IMO because of yesterday’s news.
It states that the government of Iraq wants guarantees that
there will not be any forgeries from bringing in the zero notes.
Quote: "the
government Committee agrees opinion, but it calls
for guarantees of non-forgery or reference currency in the markets,"
It looks like they are concerned about the
currency out in the market now being the issue because of the zeros
it makes it harder to guarantee that they will not get forgeries in the
replacement process. Meaning exchanging the large 3 zero notes with the smaller
or deleted zero notes.
That does make sense but yet Shabibi said that they had ways
to cut that down significantly. Thus the $15 million USD that was spent
on De La Rue machines in
2011 by the CBI.
The consensuses in our dinar community is that
they were high speed currency counting, sorting and destroying machines.
Banknote Destruction Solutions
De La Rue offers a range of flexible solutions for the secure destruction, conveying and collection of unfit banknotes and secure documents. Each system is designed to be a bespoke solution to meet the precise needs of the customer in terms of:
- Offline destruction needs (granulator)
- Shred handling requirements from online banknote sorting machines and offline granulator
- Throughput capacity
- Building layouts and room sizes
Each system is made up of a variety of individual components depending on the solution required:
- Hand-fed or infeed conveyor options for offline granulators
- Offline granulators
- Shredders for large sheets of paper
- Sound attenuating enclosures
- Pneumatic extraction system to convey shreds between sorting machines and granulator and the shred collection point
- Filters, with self-cleaning option available
- Briquetting and compacting systems, capable of working with paper and polymer
- Collection point for bagging or briquetting shredded banknotes and documents, with briquettes being conveyed outside the building if required
- Control system to integrate all components for efficient and safe operation
- Installation, commissioning and maintenance
A solution can consist of
- an online shred handling system only, where the shreds are conveyed from banknote sorting machines to a central collection point for bagging or briquetting, or
- an offline granulation and shred handling system, where secure documents or unfit banknotes are hand or conveyor fed into a granulator, with the shreds being conveyed to a central collection point as above, or
- a combination of the above two systems, where both offline and online shreds are conveyed to a single point of collection.
The systems are flexible and can be designed for throughputs ranging to a few tens of kg/hour up to 1000kg/hour or more, with individual components sized to suit the needs of that part of the system.
My point is that these high dollar machines bring their percentages of forgeries way, way down so why would this now be an issue? The answer is, it’s not but yet just away to throw speculators off because of the minutes yesterday and I would not take these to heart until we hear from the CBI.
That’s all for now, have a great day,
Stryker
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