Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
yota691

Banking calendar attracts large foreign capital

Recommended Posts

yota691    85,063
 
1145.jpg
Governor of the Central Bank Ali Alalak "Economy News"

 

 

 

Economy News Baghdad: 

The Central Bank of Iraq announced on Monday plans to attract citizens' money and pump it into the banking system.

"Stagnation is a problem and a source of concern for many countries, especially after the latest technological developments and the subsequent achievements and huge savings in the incomes of the elements of production," the bank's governor Ali Alaq said in a press statement.

Al-Alak added that "the Central Bank observes this phenomenon directly and that the available cash is not available and as planned," noting that "the Central Bank has a scheme to resolve this issue through the development of plans and studies to attract funds and their attractions within the banking system."

 

Views 128   Date Added 11/09/2017

  • Upvote 9

Share this post


Link to post
Share on other sites
ladyGrace'sDaddy    19,344
11 minutes ago, yota691 said:

Central Bank has a scheme to resolve this issue

:facepalm1:And they wonder what everyone's problem with them is :facepalm1:

  • Upvote 1

Share this post


Link to post
Share on other sites
yota691    85,063
11-09-2017 12:37 PM
image.php?token=c2b9dc319debafeda28a510a0f4eda50&size=
 


 

 

The Central Bank of Iraq announced Monday that the available cash is not available, pointing out plans to attract money and pump it into the banking system. 

"Stagnation is a problem and a source of concern for many countries, especially after the recent technological developments and the subsequent achievements and huge savings in the incomes of the elements of production," the bank's governor Ali Al-Alaq said. 

Al-Alaq added that "the Central Bank observes this phenomenon directly and that the available cash is not available as planned," noting that "the Central Bank has a scheme to resolve this issue by setting plans and studies to attract funds and their attractions within the banking system." 

It is noteworthy that the term 'compactness' means holding money and locking it away from trading. It may be hard to bury the money or to keep it in the boxes inside the house and not to take it out to trade in the money and capital markets.

  • Upvote 4

Share this post


Link to post
Share on other sites
yota691    85,063

Central Bank: Available cash is not available and we have a plan to attract money

Readers

 

 

8

Central Bank: Available cash is not available and we have a plan to attract money

 

11-09-2017 02:40 PM

The Euphrates -

 

The central bank governor Ali al-Alaq said that the available cash is not available, pointing out plans to attract money within the banking system.

 

Alaq said in a press statement that the compactness is a problem and a source of concern for many countries, especially after the latest technological developments and the subsequent achievements and achieve huge savings in the incomes of elements of production.

 

He pointed out that the Central Bank observes this phenomenon directly and that the available cash is not available as planned, stressing that the Central Bank has a plan to resolve this issue through the development of plans and studies to attract funds and their attractions within the banking system.

  • Upvote 6

Share this post


Link to post
Share on other sites
NEPatriotsFan1    473

There's that Electric Blue suit again......I'm getting a good feeling about this! Almost party time maybe? Change that value to $3.22+ and I'll let you have all my Ca$h back!!! 

 

Thanks Yota :)

  • Like 3
  • Upvote 6
  • Downvote 1

Share this post


Link to post
Share on other sites
yota691    85,063
 
Monday 11 September

 

Search Bigger
 
 
 
 
 

Alsumaria News / Baghdad 
announced that the Central Bank of Iraq on Monday, the available cash is not available, pointing to plans to attract funds and pumped into the banking system. 

"Stagnation is a problem and a source of concern for many countries, especially after the recent technological developments and the subsequent achievements and huge savings in the incomes of the elements of production," the bank's governor Ali Al-Alaq said in a statement.

 


Al-Alak added that "the Central Bank observes this phenomenon directly and that the available cash is not available and as planned," noting that "the Central Bank has a scheme to resolve this issue through the development of plans and studies to attract funds and their attractions within the banking system." 

It is noteworthy that the term "compactness" means holding the money and imprisoning it from circulation. It may be the hoarding of burying money or keeping it in the boxes inside the house and not taking it out to trade in the money and capital markets.

  • Upvote 6

Share this post


Link to post
Share on other sites
yota691    85,063
6 minutes ago, NEPatriotsFan1 said:

I'm getting a good feeling about this! Almost party time maybe?

Hopefully it the last push for the hoarders, I'm curious on what this would entail that would make these folks head to the banks. My first thought is great deal on gold coins..Who knows..and GM DV

  • Like 2
  • Upvote 15

Share this post


Link to post
Share on other sites
ladyGrace'sDaddy    19,344
10 minutes ago, yota691 said:

Hopefully it the last push for the hoarders, I'm curious on what this would entail that would make these folks head to the banks. My first thought is great deal on gold coins..Who knows..and GM DV

I'll bet .10 cents to .25 cents will get every last dinar in the banks within one hour.

  • Upvote 8

Share this post


Link to post
Share on other sites
Jaygo    1,414
1 minute ago, ladyGrace'sDaddy said:

I'll bet .10 cents to .25 cents will get every last dinar in the banks within one hour.

Truth!

  • Upvote 3

Share this post


Link to post
Share on other sites
Synopsis    8,391

Just thinking out loud here. If there are, say, 38 trillion dinar (bone fide not conterfiet) on the Iraq streets that are all turned in and there is an initial revalue in Iraq of 1 IQD = 0.01 USD with a thirty day window to convert for 38 million Iraq citizens, then that would be 380 billion USD pumped into Iraq via the Iraqi citizen or nominally $10,000 for every Iraqi man, woman, and child. That'll buy some seriously nice homes, cars, and (you guessed it :o) all those cell phones to spend all that cash electronically!!!

 

Hey, that'll free up some serious cash in Iraq!!! No mo bank cash liquidity problems after that!!!

 

Go Moola Nova!

:pirateship:

Edited by Synopsis
  • Like 1
  • Upvote 5

Share this post


Link to post
Share on other sites
3n1    334

who knows maybe keywords is going to offer some form of high interest bearing accounts thru the banks, except the iraqi's don't trust the banks  ( security / corruption ) unless risk vs reward is really in the citizens favor , no matter the iqd's value it needs to become a internationally accepted currency again , inside iraq 1 dinar is 1 dinar it just becomes powerful ... here's hoping

  • Upvote 1

Share this post


Link to post
Share on other sites
Boozer    4,271
1 hour ago, yota691 said:

Hopefully it the last push for the hoarders, I'm curious on what this would entail that would make these folks head to the banks. My first thought is great deal on gold coins..Who knows..and GM DV

Free Waffle iron or Toaster 

  • Upvote 3

Share this post


Link to post
Share on other sites
mr.unlikely    781

I seriously doubt that the CBI will implement a plan to get the, let's say 35 billion dollars of dinar that are being hoarded, and turn it into 350 billion dollars worth of currency. It doesn't work like that. The Iraqi people will be doing a note swap. Newly released notes ( lower denoms) with a higher value will be exchanged for the old notes of the same value. It's a neutral event within the country that allows the CBI to increase the dinar exchange rate while not blowing up the internal float. We will be getting the bank rate for our notes, the Iraqis will be getting new notes. At least that's how I see it. 

  • Upvote 5

Share this post


Link to post
Share on other sites
fnbplanet    2,575
42 minutes ago, mr.unlikely said:

I seriously doubt that the CBI will implement a plan to get the, let's say 35 billion dollars of dinar that are being hoarded, and turn it into 350 billion dollars worth of currency. It doesn't work like that. The Iraqi people will be doing a note swap. Newly released notes ( lower denoms) with a higher value will be exchanged for the old notes of the same value. It's a neutral event within the country that allows the CBI to increase the dinar exchange rate while not blowing up the internal float. We will be getting the bank rate for our notes, the Iraqis will be getting new notes. At least that's how I see it. 

That is exactly how it will go down.  To them, it's a wash, but they wouldn't need a wheelbarrow to carry the new denoms to go grocery shopping.  

 

My question is:  what happens if they go online and buy Euros or even USD?  In Iraq, their prices will adjust to the new currency, and the 3 zeroes will be ignored on the old (current) currency.  

Would Iraq be able to pay it's debts at the new rate?  Wouldn't rebuilding Mosul cost less with imported materials purchased with the new rate?

Share this post


Link to post
Share on other sites
Boozer    4,271
42 minutes ago, navira45 said:

Wow...very excited. This should follow the rv very shortly.

we all are :praying: for this too ... sooner than letter.. But I see this next . lots to do if the UN would put them in Chapter 8 that would be a Great Start 

  • Upvote 4

Share this post


Link to post
Share on other sites
King Bean    4,389
4 hours ago, ladyGrace'sDaddy said:

I'll bet .10 cents to .25 cents will get every last dinar in the banks within one hour.

 

LGD I think ANY increased value would help, but when they make a dinar worth more than a USD....you will see that mattress money literally fly into Iraq banks. But they have to make moves to give citizens confidence to do that. A little more than 1:1 gets my vote. It will only grow from there. IMHO.

  • Upvote 5

Share this post


Link to post
Share on other sites
fnbplanet    2,575
16 minutes ago, King Bean said:

 

LGD I think ANY increased value would help, but when they make a dinar worth more than a USD....you will see that mattress money literally fly into Iraq banks. But they have to make moves to give citizens confidence to do that. A little more than 1:1 gets my vote. It will only grow from there. IMHO.

Agree, chump change won't change their minds.  The distrust in their banks trumps their nationalistic pride at the moment.  Gotta see $1 plus to move them, and the CBI knows it.

  • Upvote 1

Share this post


Link to post
Share on other sites
Laid Back    11,266

The CBI have tried;

- Devaluing  the dinar even more to create fear and get chunky cash.

- Selling gold 

- Selling bonds 

- high yield saving accounts 

 

The CBI said there's still 30 trillion in chunky cash.

 

In my opinion people will keep the chunky cash stashed at home... If they haven't changed by now for dollars or gold, they are not gonna do it. Until the dinar increase in value .... The educated people know what's going on.... They don't need the chunky cash to buy food or to pay bills.

 

 

 

Go CBI

Go new monetary policy 

Go RV

Go $1:1

 

 

Lets wait and see what's the new plan.

 

  • Upvote 12

Share this post


Link to post
Share on other sites
tigergorzow    13,196

Yota Thanks,  DV,  All comments are extremely positive & the CBI know darn well they better act quickly IMHO.  The International clock is ticking louder & louder....😊😁

 

GO RV / RI

  • Like 1
  • Upvote 3

Share this post


Link to post
Share on other sites
fnbplanet    2,575

Is it possible that they need to reduce the "chunky cash" in order to increase the value?   Seems so.   Makes sense that they want LESS of it out there when they get everything else done.

  • Upvote 1

Share this post


Link to post
Share on other sites
mr.unlikely    781

LB the one thing that would dislodge all that chunky cash is a expiration date on the three zero notes. If the people think those notebwill become obsolete after a specified time frame they will trade them in. The banks will then make everyone exchanging use their bank account or get a bank account for exchange purposes. They probably won't let the currency dealers in country have lower denoms until after the majority of matress money is accounted for. This is all JMHO of course.

  • Upvote 3

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×

Important Information

By using this site, you agree to our Terms of Use.