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Finance: The government and the central bank rigid weak Handle rising dollar


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Finance: The government and the central bank rigid weak Handle rising dollar

Posted by: admin2  in the economy  of December 12, 2016 0  17 visit

 

 

BAGHDAD / SNG

Parliamentary Finance Committee said, that the government is rigid and did not move a finger on the US currency rising against the Iraqi currency, stressing that the central bank is weak in addressing the rising dollar prices in the local market.

Said committee member Ahmed Sarhan in a press statement that "the Commission against any rise in the currency of the dollar against the Iraqi dinar, noting that the parliament and the government did not take any action in the 2017 budget to tackle rising dollar against the dinar in the local markets."

He pointed out that "there are taking advantage of the sharp rise of the dollar exchange rate on the dinar views, stressing that the Iraqi dinar has become a fall day after day, to raise the value of the dollar in the market."

He added that "the central government's rigid and did not take any measures to curb the appreciation of the dollar in addition to the weakness of the central bank not to pump large amounts of dollar to decrease the volume in the markets."

And that "the government and central bank to take measures to address the decline of the Iraqi dinar against the dollar, and to hold accountable those who control the market and have the effects of the lifting of the US currency."

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Parliamentary Finance: beneficiaries of the rising dollar and the government and parliament have done nothing  12/12/2016 12:44 BAGHDAD / tomorrow Press:  Parliamentary Finance Committee, confirmed on Monday that the government is "static" and did not move a finger on the US currency rising against the Iraqi currency, indicating that the central bank is weak in addressing the rising dollar prices in the local market.  The committee member said Sarhan Ahmed for "tomorrow's Press," that "the Commission against any rise in the currency of the dollar against the Iraqi dinar," noting that "the parliament and the government did not take any action in the budget of 2017 to address the phenomenon of rising dollar against the dinar in the local markets."  He added, "There are benefiting from the surge of the dollar exchange rate on the dinar views," stressing that "the Iraqi dinar has become a fall day after day, to raise the value of the dollar in the market."  He believed that "the central government rigid and did not take any measures to curb the appreciation of the dollar, in addition to the weakness of the central bank, not to pump large amounts of dollar to decrease the volume in the markets."  And that "the government and central bank to take measures to address the decline of the Iraqi dinar against the dollar, and to hold accountable those who control the market and have the effects of the lifting of the US currency."

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CBI is allowing fear to force the chunky cash buy back at low rates. It's a brilliant move when you consider it's the only thing that will force a cash society to give it up and establish bank accounts. When enough has been brought in then we should see an R/V. Governments and Central Banks screw their own citizens first financially, because they can!

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Probably smoke & :bs: - can't see this thing going on for another year. Too much has gone on already for them to pull such a stunt of Epic stupidity as to put the Brakes on this. The citizenry won't stand for it: you'll have anarchy in the streets if the Govt. starts foot dragging.

I still believe their backs are against the wall. 

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3 hours ago, unirod said:

CBI is allowing fear to force the chunky cash buy back at low rates. It's a brilliant move when you consider it's the only thing that will force a cash society to give it up and establish bank accounts. When enough has been brought in then we should see an R/V. Governments and Central Banks screw their own citizens first financially, because they can!

Agree with you unirod.!

That's the CBI strategy to collect the Chunky Cash. 

I think the Chunky Cash is about 30 trillion dinars... IF THE NEWS ARTICLES ARE TRUE 

With 30 trillion dinars out there is very difficult to increase the dinar exchange rate.

CBI is not going to tell you when they're planning to RV.

Our wait for an RV could be longer or maybe not.... Who knows?

We patiently wait

 

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55 minutes ago, Laid Back said:

Agree with you unirod.!

That's the CBI strategy to collect the Chunky Cash. 

I think the Chunky Cash is about 30 trillion dinars... IF THE NEWS ARTICLES ARE TRUE 

With 30 trillion dinars out there is very difficult to increase the dinar exchange rate.

CBI is not going to tell you when they're planning to RV.

Our wait for an RV could be longer or maybe not.... Who knows?

We patiently wait

 

I agree with you Laid Back but last time I said something like that I got a neg.

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18 minutes ago, "Fred" said:

There's still a few Hillarious supporters on here just taking out there frustrations 

I believe that. My wife's friend quit talking to her after 40 years of friendship over the election. The friend is still posting anti Trump items on facebook. Very sad.

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First, off the Budget isn't going to change the rate, CBI must do that. The GOI won't change the rate. I have espoused first the rate change won't happen until after 2017 and now will not change until after the everything in the Stand-by Agreement signed in July 2016 has been completed. This is three years from July 2016. People who espouse that the HCL must be signed before the RV can be implemented do not take into account that not only must it become law it must be implemented. Implementation of the Oil and Gas law takes time. Yes, the RV will happen sooner now that Maliki is out of office but until Maliki is tried, convicted and behind bars to await whatever, Shabibi is not coming back to the CBI. The sooner Maliki is behind bars the sooner the RV will happen. Maliki's fate can be the hangman's noose for all I care. He must lose his freedom.

With Trump coming into office, it will take a year to a year and a half to two years before we start seeing results from his administration's actions, positive or negative. These positive  actions will only strengthen the dollar against foreign currencies which will be a problem for Iraq as its denizens will see the dollar strengthen and the dinar become weaker. The CBI reserves are going down, not up, and with the dollar strengthening this will cause issues for Iraq. On one hand Trump's policies will be great for the United States. On the other hand these policies will weaken foreign currencies versus the dollar, including the dinar. The more the dollar strengthens the harder it will be to remove the dollar from the hands of the Iraqi citizen when the time comes to do so. Iraq is on track to complete the three-year Stand-by agreement and the numbers from the first review while progressive only show Iraq going deeper into the proverbial hole. If an RV were to happen it is incumbent to make the rate above the dollar, not less and not equal.

Three years from July 2016 is the first possibility of an RV, not before. 

1 hour ago, Monkndad said:

I agree with you Laid Back but last time I said something like that I got a neg.

LOL LB has probably negged me a few times for saying that. I know I was chastised for it at least once. 

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1 hour ago, Theseus said:

First, off the Budget isn't going to change the rate, CBI must do that. The GOI won't change the rate. I have espoused first the rate change won't happen until after 2017 and now will not change until after the everything in the Stand-by Agreement signed in July 2016 has been completed. This is three years from July 2016. People who espouse that the HCL must be signed before the RV can be implemented do not take into account that not only must it become law it must be implemented. Implementation of the Oil and Gas law takes time. Yes, the RV will happen sooner now that Maliki is out of office but until Maliki is tried, convicted and behind bars to await whatever, Shabibi is not coming back to the CBI. The sooner Maliki is behind bars the sooner the RV will happen. Maliki's fate can be the hangman's noose for all I care. He must lose his freedom.

With Trump coming into office, it will take a year to a year and a half to two years before we start seeing results from his administration's actions, positive or negative. These positive  actions will only strengthen the dollar against foreign currencies which will be a problem for Iraq as its denizens will see the dollar strengthen and the dinar become weaker. The CBI reserves are going down, not up, and with the dollar strengthening this will cause issues for Iraq. On one hand Trump's policies will be great for the United States. On the other hand these policies will weaken foreign currencies versus the dollar, including the dinar. The more the dollar strengthens the harder it will be to remove the dollar from the hands of the Iraqi citizen when the time comes to do so. Iraq is on track to complete the three-year Stand-by agreement and the numbers from the first review while progressive only show Iraq going deeper into the proverbial hole. If an RV were to happen it is incumbent to make the rate above the dollar, not less and not equal.

Three years from July 2016 is the first possibility of an RV, not before. 

LOL LB has probably negged me a few times for saying that. I know I was chastised for it at least once. 

Theseus,

I have never negged anybody for his opinion or point of view. It's not my style

I have learned few things from you. I think you have a good understanding of this investment

At the bottom of all my posts you can read...  Always respect another's opinion and another's point of view

Take care.!

PS: I just remember I negged Luigi once for the BS he brings to the site😀😀😀 I'm sorry Luigi

 

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15 minutes ago, Laid Back said:

Theseus,

I have never negged anybody for his opinion or point of view. It's not my style

I have learned few things from you. I think you have a good understanding of this investment

At the bottom of all my posts you can read...  Always respect another's opinion and another's point of view

Take care.!

PS: I just remember I negged Luigi once for the BS he brings to the site😀😀😀 I'm sorry Luigi

 

It was not you who gave me the neg. I was saying I got a neg for a comment just like yours.

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