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Economist: rise of the dollar will affect the economic situation and will pay the currency to collapse


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#1 alan_coaks_3

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Posted 09 April 2012 - 03:13 PM

4 - 9 - 2012

In increasing the statements recently about the work of the central bank, said a member of the Finance Committee, the parliamentary that the dismissal of central bank governor Sinan Shabibi will be because of the expiration of his job as attributed an economist this impeachment may be due to the high dollar exchange rate during the past few days. A member of the Committee Finance Abdul-Hussein al-Yasiri's (Citizen): »I think this impeachment if there will be because of the expiration of the function's central bank governor Sinan Shabibi«., but he also »that the high dollar exchange as we have heard is another reason to it»., and added »that the powers of the Prime Minister dismiss the Governor of the Central Bank or any employee of the Bank »., and pointed out that he» was a seminar yesterday in this matter which he spoke of the audience on ways to develop the work of the Central Bank, especially in light of the high exchange Aldolarralve will impact negatively on the Iraqi economy ». For his part, counting expert economic that the dismissal of central bank governor is not the prerogative of the Prime Minister, but the powers of the Iraqi Council of Representatives. said economic expert's (Citizen): »The responsibility of dismissing the central bank governor of the powers of the House of Representatives solely because this body is one of the independent bodies and not the right of the Council of Ministers interference in the work »., and added» that tugging on the work of the Central Bank came on the back of rising dollar, which will affect the economic situation ». stressing» that this effect will push the currency to collapse ». For his part, MP Sabah al-Saadi in a press statement that« the book directed by the General Secretariat of the Central Bank confirms what we referred to earlier is the dominance of the government to the central bank to begin the second step after the dismissal of Shabibi Central Bank Governor ». He added that Shabibi« stood bravely to preserve the value of the Iraqi currency after refusing to lend to the government to preserve the value of the dinar of Iraq ». indicates Chapter IV on B» independent bodies »in Article (102) that is the UN High Commissioner for Human Rights and the Electoral Commission for elections, and the Integrity Commission, independent bodies under the control of the House of Representatives, and organize their work by law. While recalling Article (103) first of the door itself that it is all of the Iraqi Central Bank, the Office of Financial Control, and Communications and Media Commission and the endowment offices, bodies, financially and administratively independent, and the law shall regulate the work of each of them. while Paragraph II of the same article that the Central Bank of Iraq is responsible before the Council House of Representatives, and is linked to BSA and CMC House of Representatives, while the third point of the same article that linked Endowment Council of Ministers.


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#2 truthful1

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Posted 09 April 2012 - 03:44 PM

Maliki gives justification for shabbis impeachment......the high price of the dinar in the local market lately.
shabibi puts the brakes on the auctions because of the new identification requirement....and the price of the dinar climbed in and around 1260 dinar to the dollar. this may work in our favor. The only way to retreat the price is to increase the dollar auctions, without id verification or to revalue the dinar.
shabbibs in a big catch 22, right now......he may have to rv whether he wants to or not.....or he may be sacked....the people are very upset....theyare getting ripped off

Edited by truthful1, 09 April 2012 - 03:48 PM.

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#3 zigmeister

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Posted 09 April 2012 - 03:48 PM

Maliki gives justification for shabbis impeachment......the high price of the dinar in the local market lately.
shabibi puts the brakes on the auctions because of the new identification requirement....and the price of the dinar climbed in and around 1260 dinar to the dollar. this may work in our favor. The only way to retreat the price is to increase the dollar auctions, without id verification or to revalue the dinar.
shabbibs in a big catch 22, right now......he may have to rv whether he wants to or not.....

Thats exactly what CBI is going to do, sell the crap out of the dollar and sacrifice their reserves.
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#4 truthful1

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Posted 09 April 2012 - 03:53 PM

Thats exactly what CBI is going to do, sell the crap out of the dollar and sacrifice their reserves.

They very well may. im excited because there is now real pressure on the exchange rate.but , i kind of believe maliki ispressuring shabbibi to up the auctions, releasing more dollars to his sanctioned buddies.

Edited by truthful1, 09 April 2012 - 03:57 PM.

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#5 zigmeister

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Posted 09 April 2012 - 04:10 PM

They very well may. im excited because there is now real pressure on the exchange rate.but , i kind of believe maliki ispressuring shabbibi to up the auctions, releasing more dollars to his sanctioned buddies.

Probably.
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#6 Danan

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Posted 09 April 2012 - 04:12 PM

They very well may. im excited because there is now real pressure on the exchange rate.but , i kind of believe maliki ispressuring shabbibi to up the auctions, releasing more dollars to his sanctioned buddies.

Yes, Maliki wants to give more money to Iran. What a shame.
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