Economist: administrative issue not related to the issuance of currency inflation rates new cash .. between improving the payments system and increase

[DinarThug]

CNN. Broadcasting While Trying To Inflate My Bank Account !

 

 

Thug Note: The Arabish Translation For 'Coins' Is All Currency Including Notes !

 

 

 

(by walkingstick)

Economist: administrative issue not related to the issuance of currency inflation rates new cash .. between improving the payments system and increase inflation

BAGHDAD / Badr

04/14/2014

There was controversy in the House following the announcement by the Iraqi economic CBI intention issuance of a new currency, along with the existing currency. At a time of economic official saw the votes that this procedure will improve the system of cash payments, a number of experts pointed out that the increase will cause inflation. With the exception of the deputy governor of the Central Bank of the previous appearance of Mohammed Saleh subject of issuing a new currency, the subject of an administrative regard to improving the system of cash payments, and has nothing to do by inflation permanently. 

Saleh pointed out: that this project Old, an introduction to the project to delete the zeros to take advantage of improving the cash payments and the issuance of new critical editions. He said that the issuance of the new currency will be in line with the old currency, this does not mean that the old currency is good, but must evolve, as this will improve the system of cash payments will not affect the currency, but it will be part of the natural growth of currency cash. No different opinion, an economist on behalf of Jamil Antoine opinion Mohammed Saleh, which confirms that the issuance of a new currency unrelated to the process of inflation. He said that the action taken by the central bank to issue a new currency is a kind of simple structure, to issue new banknotes sophisticated technically and technologically in order not to visit and the distinctive markings. He pointed out: that there are proportions of the consumption of the old currency must be changed after a period of 10 years to be printed. He pointed out: that this will make the issuance of coins largest allocation of the trading process in large quantities, as the dinar will remain in circulation, because it cut the value of large cash minimize the use of multiple sheets and purchasing power will not be affected and will not be eligible for inflation. 

On the other hand criticized the parliamentary Finance Committee member Abdul Hussein al-Yasiri, measures the central bank to issue a new currency, noting that the bank's economists believe the currency like a simple thing they can manipulate it at any time. Yasiri said: The currency are subject to the law of supply and demand, the greater the money supply in the market, the less demand for them, and this leads to inflated currency in the local market, adding that the presentation of the new currency, along with the old currency will affect the state of the market, according to economic theory concerning the dynamics of prices. He called Yasiri central bank to take measures and steps to a better version of the new currency. Otherwise describe a member of the parliamentary finance committee, Ahmed Hassan, printing new banknotes as a "waste of time". 

He said that the currency currently in circulation do not require suitable replacement, calling on the central bank plans to put a positive for the stability of the Iraqi dinar against the U.S. dollar, instead of issuing a new currency to overwhelm the Iraqi market. Considered an economic expert peace Sumaisem, that the decision to replace the Iraqi Central Bank Iraqi currency is a good step, but it is an inflationary pressure in the period of political tension that is currently taking place in Iraq, and with the season approaching parliamentary elections. She said that the circulation of the new currency with no withdrawal of the old currency, monetary inflation would be great in the domestic market. She pointed out: that the central bank issued previously currency monetary metal after the change, but they disappeared from circulation following the establishment of some quarters smuggled abroad to take advantage of mineral makeup which, pointing out: that version monetary metal is a qualitative improvement whatsoever in circulation, but the important thing is the space will be a trading currency. 

So wholesome saw Elias Abbou adviser North Bank for Finance and Investment, that the subject of the issuance of the new currency will be certain specifications include specifications and lack of safety in cases of fraud will be issued along with the current monetary currency that is pulling the old currency later. He said that this issue is not open and an absolute inject new cash currency without withdrawing the old currency, because this would lead to an increase in prices and create some kind of inflation. The Central Bank of Iraq, announced the re-printing of banknotes Iraq, pointing out: that will be printed with pictures of new and include more protection. He said in a statement that the currency will continue to be traded now, and that the new currency will help the blind to see the value of these groups, explaining: it will be included in the currency of the new dates Hijri and Gregorian and the signing of the Governor of the Central Bank and the Agency Abdul Basit Turki Saeed, with the addition of some security tags. He pointed out: that the current banknotes will continue to be traded with the new will not be pulling rolling them currently or in the future. He explained: that the categories of the 250, 500 and 1,000 dinars added to signs of a new security upon which bristles color visible and invisible signs circular for the visually impaired (blind), in addition to coating banknotes paint shield to protect it from dust, as well as a string ensure width of 1.2 mm. He noted the bank to: it was added capillaries colorful visual and non-visual classes 5000 and 10,000 and 25,000 dinars, and signs for the visually impaired and coating to protect it from dust and thread bar for protection with a picture of the Palm and Animations and colors changing different for different denominations of the three.

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[idplzr]

Lots of good articles the last few weeks concerning IQD!!! Thanks Thug

[magawatt]

I hope "coin" means a small disk of metal usually in fractional values of the base currency.

[jeepguy]

brake  these  two  big statements  apart  and  they  are  re-hashed   news   I think the first  is  the article  where  central bank is releasing  new notes   { would not  surprise me if they are talking  about  the notes  we  just learned last week , are  turning out  }    and  the bottom  section  is the same  re-read  of   what  the new features  and  values  are to be ,  but    I am with mega watts   on the  middle section   hope  they do mean  coin`s  as  in  metal  coins ,  the one part  states they  had  printed  coins  but they disappeared .........   they still worry me  with  the  talk  of  printed  notes  along with  the older  notes  will have  no   value  ???   I wonder if they mean  the saddam   notes  ?      and  the other  part  ----  the older notes  must  go along  with the new improvements ?   going higher  in value  along  with the new values  of  the new notes  ????    

[gamaray]

this is Stryker's comments on this article..............

 

This is just like the debates we dinar holders have debated since this commodity of the dinar came into play in 2004. Everyone has an opinion on what the effect these new banknote will have.

Many experts believe it will cause an increase in inflation, many say it will not. One stated it has nothing to do with inflation, a few say it is just for improving cash payments and others say it won't.

Of course Ahed Hassan says that printing new banknotes as a waste of time and I used this as my point that the CBI must have a bigger plan in one of my blogs last week.

One says the system will evolve, and my favorite one says that the banks economist can manipulated the value at any time.

I like when they debate this because it proves that no one really knows what it's going to do as it should be.

IT IS CALLED SPECULATING... and I speculate it will increase in value!

[Boozer]

thanks

[skeetdog]

Thanks DT...Does this ride ever stop...my a$$'s gettin' sore...

[sandfly]

THANKS

[dinar_millions]

Stay positive folks,Words and thoughts have power...

[Laid Back]

He said that the issuance of the new currency will be in line with the old currency,

Go increase exchange rate.!!

[NextYear]

instead of issuing a new currency to overwhelm the Iraqi market.

 

 

 

Either I misunderstood something or someone in that article has got the wrong end of the stick.  The way I read the previous article about this new currency was that it was not going to be dumped en mass into circulation but would be a gradual replacement as old worn out notes come into a bank and are taken out of circulation being replaced by the new ones.

 

Edited May 11, 2014 by NextYear