Iraqis lose 77% of the value of their money in the siege

[colts469]

Wow! brutal crowd, just stated an opinion and get negged. I’m pro RV btw. Was not meant as a lop comment.

[Rmc10]

32 minutes ago, Half Crazy Runner said:

 

100,000,000 x .0008 = 80,000 👍🏻 That’s still a lot of money!

 

Bahaha... I suck at math every now and then.. Still has more money than me. I think I forgot a zero when I typed in the exchange rate. 😂 With all this talk of removing zeros from the exchange rate it probably was wishful thinking.

Edited March 22, 2018 by Rmc10

[GregHi]

36 minutes ago, 3n1 said:

thanks greghi , i remember you saying this on another site ur friend lived stateside now if memory isnt to fried .

Yes, exactly.. unfortunately I haven’t talked to him in a while he and I are no longer at the same company.. I still have his number, need to see how he is doing.. 

[bostonangler]

16 minutes ago, colts469 said:

Wow! brutal crowd, just stated an opinion and get negged. I’m pro RV btw. Was not meant as a lop comment.

 Haters hate... That's just how people are.

 

B/A

[GregHi]

3 minutes ago, Rmc10 said:

 

Bahaha... I suck at math every now and then.. Still has more money than me. I think I forgot a zero when I typed in the exchange rate. 😂

Lol. He has done better than most in Erbil or Iraq as a whole.. his house with 6 bedrooms is in an armed gated community. The thought that we have that everybody is dirt poor in Iraq waiting on the RV is simply not true. Their poverty and homeless is not that much more than what we have here in the states. They make due with what they have and save everything they can..

[ChuckFinley]

25 minutes ago, colts469 said:

Wow! brutal crowd, just stated an opinion and get negged. I’m pro RV btw. Was not meant as a lop comment.

 No worries man it is the negmuster. He  loss in and begs everyone.  

[Half Crazy Runner]

36 minutes ago, Rmc10 said:

 

Bahaha... I suck at math every now and then.. Still has more money than me. I think I forgot a zero when I typed in the exchange rate. 😂 With all this talk of removing zeros from the exchange rate it probably was wishful thinking.

 

Sounds good to me!  One zero down, two more to go!! 

[Butifldrm]

Here is a link to most of the Data you guys are asking for.  

 

Currency outside Banks is not broken down , but it's a lot according to the CBI.

 

http://www.cbiraq.org/SeriesChart.aspx?TseriesID=156

 

 

Few Words About Us

The Central Bank of Iraq Law was issued March 6, 2004. Its objectives are achieving domestic price stability, and promoting a competitive stable financial system. In meeting these objectives the Central Bank will support system">support sustained growth and economic opportunitIes for the people of Iraq..

 

Economic and Statistic Data

Monetary Sector

Financial Sector

Prices Indicators

Real Sector

Foreign Trade

Iraq Stock Exchange

Payments System Indicators

http://www.cbiraq.org/Default.aspx

[10 YEARS LATER]

3 hours ago, colts469 said:

Wow! brutal crowd, just stated an opinion and get negged. I’m pro RV btw. Was not meant as a lop comment.

 

No worries mate — some folks got sensitive feelings & some is just downright ridiculous 

[SupraRacer]

45 minutes ago, 10 YEARS LATER said:

 

No worries mate — some folks got sensitive feelings & some is just downright ridiculous 

 

Dilly Dilly!!! 

SR

[Carrello]

8 hours ago, Laid Back said:

CBI said the money supply is 48 trillion IQD..... 77% of that is 36.9 trillion IQD 

 

CBI reserves 48.9 billion dollars plus 7% growth in 2017...... $52.3 billion dollars

 

48 trillion IQD/1182 = $40.6 billion dollars

 

$52.3 Billions reserves ..... $40.6 billions money supply 

 

They have enough money to easily revalue to $1:1

 

Go  CBI

Go NMP

Go RV

Go $1:1

Laid Back, great info. Thanks. When, if ever, do the gold reserves come into play?  Gold reserves are at 90 tonnes.

[new york kevin]

4 hours ago, colts469 said:

Wow! brutal crowd, just stated an opinion and get negged. I’m pro RV btw. Was not meant as a lop comment.

Sad but funny also. Happens all the time.

[Laid Back]

22 hours ago, Wiljor said:

 

Brother Laid Back 

Nice to see Bro

22 hours ago, ChuckFinley said:

Darn right they do.  Hey LB trust you are having a great Dinar Day. Sounds like they can fund our RV party.     

Yes Sir, and it will be a BIG party 

 

Go RV

Go $1:1

Go DV party

[Laid Back]

16 hours ago, Carrello said:

Laid Back, great info. Thanks. When, if ever, do the gold reserves come into play?  Gold reserves are at 90 tonnes.

Nice to see you Carrello,

inflation is caused by an increase in the money supply, and since gold is a hedge against inflation, money supply growth positively affects the price of gold. 

 

Go CBI 

Go new monetary policy 

Go $1:1

[ChuckFinley]

54 minutes ago, Laid Back said:

Nice to see Bro

Yes Sir, and it will be a BIG party 

 

Go RV

Go $1:1

Go DV party

I am counting on it after as many years we have in. 

[Butifldrm]

2018-03-26 BY SOTALIRAQ

Iraq: Government banks account for 60 percent of deposits

Experts expected the increase in the volume of Iraqi bank deposits during the current year after the adoption of a budget reduced the rate of austerity that has gone through the government since 2014, following the crisis of low oil prices and the occupation of large areas of Iraq by the «Da'ash».

The banking sector showed that the balance of deposits in the banking sector declined in 2015 and 2016 to reach 62.4 trillion dinars ($ 52 billion), and 60 percent of total bank deposits, especially in government banks, belong to public services. Domestic and foreign companies.

"The drop in deposits is due to the drop in government spending after 2014, especially since most of the deposits are in government banks," banking expert Nihad Abboud told Al Hayat. "The government's austerity policy reflected a decline in private sector deposits from $ 20 billion to $ 18 billion in 2016," he said.

Abboud warned of "concentrating government deposits and limiting their dealings with government banks, specifically Rafidain Bank, which accounts for 45 percent of total deposits, which carries great risks in the event of any emergency, in addition to the deliberate weakening of the private banking sector of Iraq.

A source at the Central Bank «life» that «drop levels of deposits in banks caused by the crisis of falling oil prices and the cost of war on the duplications and government spending on internal displacement».

He explained that «the bank has followed a wise policy through which to manage the financial policy without having any negative consequences, Iraq has gone through a very severe crisis was a sudden decline in the volume of government and private deposits, and liquidity is trading outside the banks, and here is difficult to control Or even directed to manage sufficient amounts of dinars to cover the large expenses ». "The size of these deposits will grow significantly this year as a result of the lifting of many items that were burdens on the state treasury, including war expenses of $ 30 million a day, and reduce unnecessary spending that can be exploited in economically viable projects."

Member of the Finance Committee, Mahasen Hamdoun said that «ancient cultures that are still in place played a prominent role in the ratios of dealing with the banking sector», noting that «the Iraqi citizen still prefer to keep his money in his home, whether coins or gold, for fear of any emergency Or war or unexpected displacement ».

"The other reason why bank deposits remain substandard is that banks refrain from any advertising or educational activity," she said.

Iraq is witnessing a significant expansion in the number of private banks and the opening of branches of Arab and foreign banks, as of the number until the end of 2007 about 110 banks and financial institutions.

https://www.sotaliraq.com/2018/03/26/العراق-المصارف-الحكومية-تستحوذ-على-60-ف/

[Butifldrm]

Experts expected the increase in the volume of Iraqi bank deposits during the current year after the adoption of a budget reduced the rate of austerity that has gone through the government since 2014, following the crisis of low oil prices and the occupation of large areas of Iraq by the «Da'ash».

The banking sector showed that the balance of deposits in the banking sector declined in 2015 and 2016 to reach 62.4 trillion dinars ($ 52 billion), and 60 percent of total bank deposits, especially in government banks, belong to public services. Domestic and foreign companies.

 

Notice under the CBI Statistical Data, They do not show the amount of currency in GOVERNMENT BANKS!

http://www.cbiraq.org/SubCategoriesTable.aspx?SubCatID=93

[jmartin1145]

3 minutes ago, Butifldrm said:

Experts expected the increase in the volume of Iraqi bank deposits during the current year after the adoption of a budget reduced the rate of austerity that has gone through the government since 2014, following the crisis of low oil prices and the occupation of large areas of Iraq by the «Da'ash».

The banking sector showed that the balance of deposits in the banking sector declined in 2015 and 2016 to reach 62.4 trillion dinars ($ 52 billion), and 60 percent of total bank deposits, especially in government banks, belong to public services. Domestic and foreign companies.

 

Notice under the CBI Statistical Data, They do not show the amount of currency in GOVERNMENT BANKS!

http://www.cbiraq.org/SubCategoriesTable.aspx?SubCatID=93

That is beautiful

[yota691]

With low oil prices .. Government banks in the country acquires 60 percent of deposits !!

26-03-2018 10:14 AM

Readers

 

Baghdad News -

Life 

Experts predicted the increase in the volume of Iraqi bank deposits during the current year after the adoption of a budget reduced the rate of austerity that the government since 2014, following the crisis of low oil prices and the occupation of large areas of Iraq by the «Da'ash». 

The banking sector showed that the balance of deposits in the banking sector declined in 2015 and 2016 to reach 62.4 trillion dinars ($ 52 billion), and 60 percent of total bank deposits, especially in government banks, belong to public services. Domestic and foreign companies. 

"The drop in deposits is due to the drop in government spending after 2014, especially since most of the deposits are in government banks," banking expert Nihad Abboud told a news briefing. "The government's austerity policy reflected a decline in private sector deposits from $ 20 billion to $ 18 billion in 2016," he said.

Abboud warned of "concentrating government deposits and limiting their dealings with government banks, specifically Rafidain Bank, which accounts for 45 percent of total deposits, which carries great risks in the event of any emergency, in addition to the deliberate weakening of the private banking sector of Iraq. 

A source at the Central Bank said in a press statement that «the decline in levels of deposits in banks caused by the crisis of falling oil prices and the cost of war on the urging and government expenditures on internal displacement».

He explained that «the bank has followed a wise policy through which to manage the financial policy without having any negative consequences, Iraq has gone through a very severe crisis was a sudden decline in the volume of government and private deposits, and liquidity is trading outside the banks, and here is difficult to control Or even directed to manage sufficient amounts of dinars to cover the large expenses ». "The size of these deposits will grow significantly this year as a result of the lifting of many items that were burdens on the state treasury, including war expenses of $ 30 million a day, and reduce unnecessary spending that can be exploited in economically viable projects."

"The old cultures that are still practiced have played a prominent role in dealing with the banking sector," said MP Mahasen Hamdoun. "The Iraqi citizen still prefers to keep his money in his home, whether gold or gold, for fear of any Emergency, war or unexpected displacement. " 

"The other reason why bank deposit rates remain below the required level is that banks refrain from any advertising or educational activity," she said.

[Butifldrm]

• economic

Iraq progresses to four Gulf states in the classification of total money supply (N 1)

12:50 - 25/03/2018

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Information / Baghdad ..

Financial data showed on Sunday that Iraq is providing a large number of Arab countries, including four Gulf states, in the classification of total money supply (N1).

Money supply (N1) includes money circulating among individuals plus demand deposits (ie, total current accounts in the banking system).

Iraq came in the 49th place in the world with a value of about 62.0 billion dollars, ahead of Qatar which ranked in the sixth place, Kuwait ranked 60th, Oman ranked 79th, Bahrain 85th.

It also ranked Iraq ahead of other Arab countries such as Egypt, Jordan, Tunisia, Lebanon and Syria.

Globally, China recorded the highest level of total money supply (N1) at the end of 2017 by about 8.16 trillion dollars, followed by Japan by 6.43 trillion dollars, then the United States by 3.63 trillion dollars, and Germany by about 2.31 trillion dollars. Ending / 25

 

http://www.almaalomah.com/2018/03/25/294280/