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Sandyf   I get the impression that many perceive currency coding as nothing more than window dressing, nothing could be further from the truth.

Currency codes are the backbone of all financial systems.

Every computerized accounting software operates on a base currency and once set that currency code cannot be altered.

When a country needs to introduce a new currency, the code must first be issued by the ISO, accounting software needs to be amended and a new set of accounts created in the new currency.

This is why I often remind people that a redenomination cannot happen overnight nor in secret.

One thing you can be sure of is that Iraq, or any other country is not going to be introducing a new currency anytime soon.

It should be noted that the introduction of alternative denominations is an addition to an existing currency and not a new currency.

For those of us who hated seeing another Monday without an RV arrive:


When things go wrong as they sometimes will,
When the road you’re trudging seems all uphill,
When the funds are low and the debts are high,
And you want to smile, but you have to sigh.
When care is pressing you down a bit-
Rest, if you must, but don’t quit.

Life is queer with its twists and turns,
As every one of us sometimes learns,
And many a fellow turns about
When he might have won had he stuck it out.
Don’t give up though the pace seems slow-
You may succeed with another blow.

Often the goal is nearer than
It seems to a faint and faltering man:
Often the struggler has given up,
When he might have captured the victor’s cup.
And he learned to late when the night came down
How close he was to the golden crown.

Success is failure turned inside out-
The silver tint of the clouds of doubt,
And you never can tell how close you are,
It may be near when it seems afar:
So stick to the fight when you’re hardest hit-
It’s when things seem worst that you must not quit.