Dr.. Abdul Hussein Al Anbuge *: dialectic exchange rate of the Iraqi dinar

[deniscanada]

a. Dr.. Abdul Hussein Al Anbuge *: dialectic exchange rate of the Iraqi dinar

By d. Abdul Hussein Al Anbuge - Posted on 06/06/2017
Ten years ago I personally think deflationary monetary policy is not compatible with expansionary fiscal policy, I have written a lot of research and articles in it, as you write about the exchange rate [...]
Ten years ago, I personally think that deflationary monetary policy is not compatible with expansionary fiscal policy. I have written a lot of research and articles. I have written about the excessive exchange rate of the dinar and how it has effectively contributed to the destruction of Iraq's productive base and the creation of deflationary pressures. big. In other respects, the practice of commercial banks for their classic functions of lending and credit creation is counterproductive to the large profits that these banks make from trading the currency (dollar) simply because they enter it. Auction. I would like to point out that I did not demand the flotation of the dinar, as Egypt did with the pound recently, because I am fully aware of some of the potential social costs, but in years and periods of prosperity, I have called for public budgets that are overflowing with appreciation of the dollar against the dinar. The cheap dollar is encouraging the importer and chasing the local product. Some economists, including my brother and colleague Dr. Mazhar Mohammed Saleh, opposed this approach when he was an adviser to the Governor of the Central Bank and then deputy to him and finally when he worked in the Prime Minister's Office with a consultative contract. He sought all excuses for his scientific opinion, It is undoubtedly respected, although I was surprised by the recent article published in several sites, which was not successful neither in its scientific and in terms of style as prejudice to the advocates of devaluation of the dinar and described them as treason and a group of economists supporting terrorism and that they are the owners of dollars, Words are not consistent with any m Scientific approach, as well as it is no secret that everyone in Iraq has become known and clear history thanks to social networking sites. Therefore I think that we stop the bidding and accusations and put the interest of the country first and think as men of state in finding a solution to the problem of currency auction and exchange rate.

 

The crises of the world my brothers were often crises of deflation (high unemployment rates) and not inflation crises because inflation carries with it higher operating rates and consequentially the entry of more distributed components of production, yes eroded purchasing power due to inflation, but the rate of erosion is proportional to the rate of increase in Entry does not cause panic, revolution or collapses, as happens when the economy hits a recession. Because we are young people with a population growth rate of 3% and we have more than one million young people entering the labor market, a frightening figure compared to the available job opportunities of only one quarter of a million jobs. The youth's anger over unemployment, the spiral of despair and hopelessness could create a time bomb. Devouring any passing spark and most of it to burn green and land, will certainly be far more dangerous than the waves of rising economically favorable and socially unpopular prices. However, the economic process that is well tolerated can deal with the social burdens over time because it will create an employment. The social action will not be able to lift us out of the economic downturn, but will lead to more relaxation and more reliance on everything that is imported and more ignorance. After the period of inter-generational interruptions due to the discontinuation of our productive base, the disruption of inherited technology and the diversion of imported technology towards leisure consumption rather than production, then the Iraqi nation will be in great danger, living on the gift of heaven. If we want jobs for our children in the private sector, we have to reduce the value of the dinar against the dollar. What is the value of setting a tariff to protect the local product, ie, the practice of fiscal policy (part of fiscal policy) protectionism on the one hand and making the dollar cheap against the dinar (The policy of monetary reverse protectionism), but is to protect the importer from the other hand, that the effects of the two policies are contradictory, that is, the measures (protectionist and watermelon) will eat each other's impact as if we were in a vicious circle and did nothing, that the exchange rate exaggerated swallowed margin The protection provided by customs tariff remains The local product is left out of the market and the productive sectors are left idle and we import everything and our children without work.

 

Opponents believe that the high exchange rate of the dollar will make the importer expensive with higher inflation rates, and I do not deny that effect in the short term, but it quickly disappears gradually in the medium and long term, but the expected impact is the high prices of the importer and unless they rise Prices The devaluation of the dinar is futile, meaningless, and does not achieve the objective. The goal is to make the importer expensive to direct domestic demand towards the local product. Production is obtained, the machinery wheels are rotated, labor is operated and more output is distributed. When the increase in the distributed inputs of the production components is driven by higher demand for their products, The purchasing power of individuals As a result of the high prices of imported goods and services, the positive impact of devaluation of the dinar has already begun. This may require an incubation period of 6 months to a year for most productive activities. The length of time required for adaptation depends on the degree of flexibility of the productive sector and the degree of responsiveness of the local supply to the domestic demand. As production lines are often available, they are suspended from work as a result of the supportive economic policy

 

http://iraqieconomists.net/ar/2017/06/06/أ-د-عبد-الحسين-العنبكي-جدلية-سعر-صرف-ال/

[boosterbglee]

ok.......I'm ready!

[10 YEARS LATER]

Well, get to it Mate - TICK FREAKING TOCK Ole Boy!!!!!!!!!

[okane]

Yep, get this party started !!!

As long as this ride has been for us, imagine their frustration.  To know that you could change the economic make up of an entire country if you could just find one of those big red "easy" buttons and simply push the damn thing

[skeetdog]

Thanks deniscanada...This is exactly the mindset Iraq needs to go forward with ...Very good find and we'll expressed...

[ChuckFinley]

Thanks deniscanada for the post.  

[Officiallytook]

57 minutes ago, 10 YEARS LATER said:

Well, get to it Mate - TICK FREAKING TOCK Ole Boy!!!!!!!!!

[southbeach]

35 minutes ago, Officiallytook said:

 

[nannab]

Thank you deniscanada. 

As the kids say get steppin Iraq !

[jeepguy]

it is kind of funny , the children of todays Iraq , have no idea that the dinar had a value of 3 too 1 ,  probably never thought about the dinar other than worthless ,   so if the dinar rolls out at  1.25  too 1  this would be  a huge purchasing chip for all Iraq  ,   would be  too  much too hit at 3  too 1  think no one would  work as we have discussed about in the pass ...  so just let it hit the 1 too 1  and we are good .......   thanks denise  of Canada

[Gypsygirl11]

Beautiful !!!!  I'm ready......and I know their ready. Tomorrow works for me. Actually YESTERDAY would have been better. Let's get this party started! Purchasing POWER baby!!!

$3.32......only in my dreams!!!!!! I'd faint. 

Edited June 8, 2017 by Gypsygirl11

[10 YEARS LATER]

4 hours ago, okane said:

Yep, get this party started !!!

As long as this ride has been for us, imagine their frustration.  To know that you could change the economic make up of an entire country if you could just find one of those big red "easy" buttons and simply push the damn thing

 

OKAY ! WHO FORGOT TO FEDEX THE DAMN RED BUTTON TO IRAQ ! 1 SIMPLE TASK TO DO, AND SOMEONE BLEW IT BIG TIME ! ! ! 

[SnowGlobe7]

who else looked up the meaning of dialectic

 

 

[10 YEARS LATER]

2 hours ago, SnowGlobe7 said:

who else looked up the meaning of dialectic

 

 

 

Here ya be Snowy

 

 

[dahy-uh-lek-tik] 

Spell Syllables

• Examples 
• Word Origin 

See more synonyms on Thesaurus.com

adjective, Also, dialectical. 

1.

of, relating to, or of the nature of logical argumentation.

2.

dialectal. 

noun

3.

the art or practice of logical discussion as employed in investigatingthe truth of a theory or opinion.

4.

logical argumentation.

5.

Often, dialectics. 

1. logic or any of its branches.
2. any formal system of reasoning or thought.

6.

Hegelian dialectic. 

7.

dialectics, (often used with a singular verb) the arguments or basesof dialectical materialism, including the elevation of matter over mindand a constantly changing reality with a material basis.

8.

(in Kantian epistemology) a fallacious metaphysical system arisingfrom the attribution of objective reality to the perceptions by the mindof external objects.

Compare transcendental dialectic. 

9.

the juxtaposition or interaction of conflicting ideas, forces, etc.

 

[SnowGlobe7]

thanks my friend..I looked it up myself and was wondering if I was the only one!!!

 

10 years you are awesome my friend!!

[sandfly]

Thanks 

[tigergorzow]

deniscanada Thanks,  Excellent article & opinion.

 

GO RV / RI

[10 YEARS LATER]

10 hours ago, SnowGlobe7 said:

thanks my friend..I looked it up myself and was wondering if I was the only one!!!

 

10 years you are awesome my friend!!

Howdy Snowy - you are one Kool Kat 

When unusual words pop up in these articles you can't help but take pause ( paws  ), and head straight for the Dictionary. These double tongue 👅, talk out of both sides of their mouths 👄 at the same time folks don't make translating the translation easy do they  ?

[ScaryMary]

13 hours ago, Gypsygirl11 said:

Beautiful !!!!  I'm ready......and I know their ready. Tomorrow works for me. Actually YESTERDAY would have been better. Let's get this party started! Purchasing POWER baby!!!

$3.32......only in my dreams!!!!!! I'd faint. 

Gypsygirl11

I am right there with you.  I'm so "afraid" I'll be a work when this hits and I hear the news. (I really want to be at home when I hear!)  My coworkers will see me hyperventilating and dropping to my knees.  Thank goodness they all know my daughter and she only lives three miles away.  So they can call her to come get me.  Let's go SCHMOOLIE ❣️❣️👏🏼

[steveh12]

$3.32 ? HOLY SOCKS!!

[Officiallytook]

1 minute ago, steveh12 said:

$3.32 ? HOLY SOCKS!!

Yeah, would be Awesome, but I was thinking more 1 - 3.65

[Donziman]

Maybe i am missing something but i read him to say: If we want jobs for our children

we have to reduce the value of the dinar against the dollar.   This tactic of under value

has been used by China very successfully for quite sometime.

[Officiallytook]

When I read it, I thought he was saying we must change the rate instill value in the dinar in order to repay international settlements. Would be less strain on economy if the exchange rate was higher then the dollar.. but hey 

Edited June 8, 2017 by Officiallytook

[copper13]

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Edited June 8, 2017 by copper13

[Man_Kind]

15 hours ago, Gypsygirl11 said:

Beautiful !!!!  I'm ready......and I know their ready. Tomorrow works for me. Actually YESTERDAY would have been better. Let's get this party started! Purchasing POWER baby!!!

$3.32......only in my dreams!!!!!! I'd faint. 

 

Party time indeed !!!

Just give me the RV,  a bottle of anything and a glazed doughnut and I will be the happiest man alive !!!