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zul

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About zul

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  1. It was all over the news in 2015. And they are still talking abt it...... even now☺️
  2. If u guys remember SNB (Swiss central bank) and swiss franc vs euro, the language/posture Alaq is using is quite similar to that of SNB's. Late 2014 when many investors/speculators were speculating that SNB would unpegged franc from EURO, SNB denied strongly. In fact, on 12 January 2015, Jean-Pierre Danthine, the vice-chairman of the SNB, went on television and said: "We are convinced that the minimum exchange rate (refering to the peg) must remain the CORNERSTONE of our monetary policy." SNB was still buying Euros after they went on TV....and the investors believed/convinced the central bank would do whatever it took to maintain the peg and they backed off. But three days later, SNB did the exact opposite, that shocked currency markets all over the world. They scrapped the peg!! Thats what Central banks do. They will ALWAYS try to calm the market rather than stir it up. Alaq will never never say the dinar will rise in value.
  3. The maths is quite obvious, ~>No dollars on the street of Iraq, no counterfeit Iraqi dinar from Iran~ therefore no smuggling of USD to Tehran. If it is that obvious to us, it wld be even most obvious to CBI and Abadi.
  4. With all due respect sir....I simply cannot see the connections between SBA and the RV......my bad. When a country, any country (incl. Iraq) decides to borrow from IMF, they must agree to adjust their economic policies to overcome the problems that led them to seek funding from IMF in the first place. And these agreement (to adjust policies) are spelt out and agreed upon (by IMF and the country) are then documented in their MEFP for monitoring purposes. These are basically financial (fiscal) and economic issues, not monetary issues. Exchange rates, RV and devaluations are monetary issues and not part of 2016 SBA (MEFP). jmo....✌️
  5. Iraq has no choice but to investigate claims of fraud as advised by the UN. 10 days....what is 10 more days compared to the more dreaded "soon" "Kubiš, who heads the United Nations Assistance Mission for Iraq (UNAMI), called on Iraqi authorities to investigate claims of fraud in the election and "to adjudicate all appeals properly." On May 17, the UN called on Iraq to "immediately" investigate the claims."
  6. IQD will become a convertible currency and hopefully with their new true value, whatever that might be.
  7. Wow!!! I've been gone for a while and come back to this. Now we know the hold up to article 8.....i'm all too excited to say anything else.
  8. There are 329 constituencies. With 111 votes in the bag, all he needs is another 54 votes to form a govt based on simple majority. I bet Allawi (32 votes) is with him (being a Sunni party). That leaves another 22 votes which he could easily get from PUK or Sadr (27 votes). My 2 cents.
  9. zul

    Kap says years away....

    This is the most likely option for Iraq. Once they have determined the true value of IQD, they could move to a more flexible managed float where CBI will allow the dinar to float within a predetermined fluctuation band.
  10. zul

    CBI News 05/07/2018

    More dollars on the street of Iraq means more dinar in the banks.
  11. zul

    Is this true?

    This is the kind of news that Kaperoni seems to be missing. He keeps looking at the huge amount of money in circulation. Those figures will always remain huge. The question he should really be asking is where are those money? Are they still in circulations or not? Somebody once said, those money should remain in circulation because you can't pull them out without causing major disruptions to the economy. Well....that statement is true BUT only IF dinar is the only currency they are using. And we know that's not the case. Iraq has the luxury to pull their currency out of circulation without causing any major disruption to their economy. In fact for years, CBI has been transferring the 'wealth' of the country (IQD) to USD (all Iraqis love dollar) and gold (yes, not many Central Banks do this), so overtime, instead of dinar circulating in the country, it is the dollar that rules. Recent news on the localization of the salaries (e-payment) reduced the need of physical dinar even more. To complete the whole exercise of pulling dinar out of the street or mattresses, if u prefer them, they had a successful week long program on financial inclusion. And now, this news is saying they have pull out 80% of the total volume of cash!! And you can bet, most of them are the 3 zero notes, because the big chunk of cash in Iraq are these notes. Now...Kap may ask ~ where are these money? The amount of money in circulations is still the same, according to CBI data. Of course they are still the same. But most of those, if not all, are now sitting idle as bank reserves. No, not CBI reserves but commercial banks reserves. All commercial banks have current account with central bank. They (the commercial banks) only hold minimum amount of cash as reserves, the rest are sent to the central bank. Bank reserves are a commercial banks' holdings of deposits in accounts with a central bank. Mebbe that's where Kap should be looking at, for a start.
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