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wciappetta

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Everything posted by wciappetta

  1. And the devalued currency has no culpability on the manufactured inflation? They are all professional liars.
  2. Almost sounds like Baiting in order to flush the chunky money into the banks.
  3. It would have to be this way.... It's like Thunder in the distance.
  4. I'm viewing this through the lens of how Germany after WWII had a new currency suddenly introduced with a new value...That's the cherry on the parfait here IMO.
  5. Actually, with all the latest three zero talk and this report suggests pressure/justification to proceed. Title from two days ago said: Al-Kazemi’s government is at the gates of deleting three zeros from the currency.. I think we are on our way to completing this venture.
  6. Yes and the document footnote is also interesting since it represents market sensitive material. Basically it says in footnote number 1 not to advertise the expected or anticipated change in the future value. Having that info public before they introduced a new banknote would have been catastrophic to the plan, everyone and their uncle would own it. This document used to be classified and it was obtained through a FOIA request designed to beat up the Bush administration for liberating Iraq. It appears to have escaped the sensors what was also in there until it was already public. Of course great lengths have been taken to downplay it since then. This is proof of a plan even before the US entered Iraq or introduced one new banknote and the fact that Shabibi in 2008 echo's the plan is not to be overlooked.
  7. If you're suggesting as a politician he had influence on the exchange rate before being president I'd say that's a stretch...in either case, Shabibi references the 70's as the goal for the exchange rate which is exactly what the US State Dept. plan suggested in 2001.... The image below is from the "Future of Iraq project" document
  8. Saddam Hussein Saddam Hussein Abd al-Majid al-Tikriti was an Iraqi politician, the fifth President of Iraq from 16 July 1979 until 9 April 2003. A leading member of the revolutionary Arab Socialist Ba'ath Party, and later, the Baghdad-based Ba'ath Party and its regional organization, the Iraqi Ba'ath Party—which espoused Ba'athism, a mix of Arab nationalism and Arab socialism—Saddam played a key role in the 1968 coup that brought the party to power in Iraq.Wikipedia Born:Saddam Hussein Abd al-Majid al-Tikriti, April 28, 1937, Al-Awja, Saladin Governorate, Iraq Died:December 30, 2006, Camp Justice, Kadhimiya, Baghdad, Iraq Cause of death:Execution by hanging
  9. lol Gee don't get your feathers ruffled, Saddam didn't take the helm until mid 1979 so the $3.39 rate is what it was without his influence. It wasn't until the Sept 1980 invasion by Iraq into Iran that began to influence the exchange rate evidenced by the 5% devalue of the dinar in 1982. After that I agree. But Shabibi referenced a period of time prior to Saddam's influence.
  10. Until December1971, 1 Iraqi Dinar equated to the value of US$ 2.80.Soon after the inflation of the United States dollar in 1973, the Iraqi Dinar valued to US$3.39. The value of Dinar remained same till the war of Iran - Iraq. Iraq in 1982 devalued the Dinar by 5%, equating it to US $ 3.22. At least the reports show intent. Near future? May be sooner than we realize
  11. That's why the Shabibi wanted a return to "late seventies, early eighties" Here's the report with all the qualifiers. It suggests a goal and a plan to achieve such. The stability of the exchange rate of the dinar against the dollar CAIRO - Muhammad Khalifa 2008-4-9 Dr. Sinan Alshabibi Governor of the Central Bank exchange rate stability of the Iraqi dinar against the dollar, and that the bank encourages citizens to buy dinar and handling and keeping it Where currencies began his confidence day by day and became keen on the conduct of the dollar and the dinar rather buy it as it saw Amian revealed dinar return to power, which led to the elimination of inflation, which we suffer from in the past. He said Alshabibi told the (morning) during his participation in the Arab banking conference in 2008, held in Cairo under the slogan (the role of banks in financing investment projects in Arabic) sponsored by the Arab League, we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar and other foreign currencies and we are endeavouring and serious in this regard, but added that this process is not easy and simple and depends on the supply and demand of Iraqi dinars. And encourage the private sector in the transfer of capital between countries reported: that opportunities are open to all and free to move money to any country that wants alluding shortage of regulatory issues in this area because we are still suffering from a routine killer in most government departments, explaining that there Many banks have formed a civil relations with a wide Arab and international banks and well and bode well Annci and we were in isolation from the world banking over 30 years but at the same time we are moving very fast pace. For his part, Associate Director of the Rafidain Bank Mohsen Abdel Hassan told (morning), which participated in the conference representatives from the banking Rafidain Bank came to participate in order to continue the banking interface between Iraq and Arab countries and return to the Arab ranks banking indicating that the participation of Iraqi banks in these conferences Arab and meetings are very positive because it is through the identification of the latest developments at the Arab Banking addition to agreements with various banks participating Conference. He added that the Rafidain Bank has eight branches in the Arab countries two in Jordan and the other in Lebanon and Syria and Abu Dhabi, Cairo and Yemen, we have an ambitious plan to increase the number of bank branches to reach all the Arab countries, and provides services to these branches Iraqi community in the transfer of funds and other banking transactions addition to pay retirees of Iraqis who live in these countries. He connected at the level of board chairman of the Union of Arab Banks Adnan Hamad Youssef told (morning): We have established strong relations with Iraqi banks as we work together to invest funds in the reconstruction of Iraq and through our union together, pointing out that we approached the Iraqi bank now to send a number of working in the Iraqi banks for training and rehabilitation in the Union and at the hands of expert professional bankers pointed out that we in the European aspire to attract bankers Iraqis through their support at all levels within and outside Iraq, explaining that the Federation began an ambitious plan establishment of several bank branches belonging Arab tent Union in Iraq After improvement of security.
  12. This report calls for a dinar to be equal to the dollar .... the good point is actual increased value and not some accounting magic. Not sure if this is where they end up, it could be higher, but this the true plan [adding value]. He added, "A new currency must be issued for Iraq that is linked to a basket of currencies, as is the case in several countries in the Middle East, in the UAE, for example, the dirham has been linked to the dollar and its price has been fixed for about 20 years," noting that they suggested that the price of the new dinar be equal to 50 cents of the dollar, and 25 A penny from the Australian pound, and 25 cents from the euro and is linked to the euro, sterling and dollar basket, and in this case, the higher the price of these currencies, the higher the price of the Iraqi dinar, and the dinar will turn into a hard currency, and all government contracts will be signed in dinar and there will be no need for a currency auction that witnesses corruption and thefts.”
  13. Interesting observation. Massive Foreign direct investment is on the horizon and with it a required change in currency value. This man knows what is coming, he has been financial advisor to what three prime ministers? There will indeed be a degree of inflation inside Iraq with the planned reconstruction ie Jobs, Jobs, Jobs. More disposable income slushing around the economy chasing available goods etc. Introducing a new pre 1980 exchange rate from the perspective of in-country accounting alone is required and he knows it. Such an exchange rate was alluded to by the US State Dept from the beginning and one Iraqi CBI gov out and out declared this eventual intention in 2008. These are the sneak-peeks into behind the scene strategies that are generally hidden from public view. Not much longer IMO ... Nice find BTW
  14. The outcome seems to rest upon Iran being removed from sanctions or I doubt the agreement could be finalized without subjecting Iraq to international restrictions. The whole idea has interesting financial implications. Iran is negotiating on the nuclear deal as we speak, suggesting the sanctions removal is a given. IMHO
  15. Al-Kadhimi: Approval of the budget is an important step and the approach of crises will not lead us to a conclusion Time: 2021/04/01 00:02:18 Read: 1,469 Times The Prime Minister, Mustafa al-Kadhimi, described the parliament's approval of the 2021 federal budget as an "important step." Useful acronym. In the big news you find it on the Euphrates News channel on the telram. To subscribe click here "Parliament's approval of the federal budget is an important step forward despite the observations, and it is evidence that solidarity action is what brings progress and stability," al-Kadhimi said in a tweet. "The approach of confrontation and crisis will not lead us to a conclusion, let us begin to work in the service of our people." "He looks forward to completing the legislative framework for the elections by ratifying the Federal Court Law," he said. The House of Representatives voted late Wednesday for the 2021 Federal Budget Act for the Republic of Iraq in its 2021 session. He also voted to dissolve himself on 7/10/2021 on the date of the elections on 10/10 2021. Wafa a fatlawi الكاظمي: إقرار الموازنة خطوة مهمة ونهج الأزمات لن يوصلنا الى نتيجة - الفرات نيوز (alforatnews.com)
  16. Urgent Parliament votes on full 2021 budget law Time: 2021/03/31 23:10:00 Read: 3,185 Times The House of Representatives voted on the 2021 federal budget bill to end months of controversy. Parliament added 12 new articles to the law, while four of it were deleted: {38-42-43-47}. The budget amounted to 129.9 trillion dinars (about $89 billion).. The parliament passed one of the most prominent budget articles, the Kurdistan Region's dues, in article 11 of the law. Ammar Al-Massoudi
  17. Kurdish mp expects budget negotiations to continue next week Baghdad Today - Baghdad On Wednesday (February 17, 2021), PUK mp Hassan Alli confirmed that there had been nothing new about the current negotiations to reach an agreement between the governments of Baghdad and Erbil. "The situation is the same, and there are ongoing meetings, but there are fundamental points of disagreement over two paragraphs of the budget law," Alli told Baghdad today. "In the current situation, we expect negotiations to continue for next week, and everything remains to be done with regard to the agreement, but so far there is opposition from the regional government to deliver all oil to Baghdad, which requires all exports of the region to be supervised," he said. On Monday, Mansoor al-Baiji, a member of the State of Law Coalition, stressed that no party is allowed to agree on the kurdistan region's share of the budget for the current year, noting that no party has the right to negotiate the wealth of the central and southern provinces and guide them to the Kurdistan region without handing over its imports to the federal government. "Delaying the approval of the budget so far due to the lack of a formula to end the regional quota problem is unacceptable and is borne by those who delay the approval of the budget so far and the country is facing major crises due to the failure to approve the budget and its disastrous consequences for not approving it," al-Baiji said in a statement received by Baghdad today. "You don't agree with our provinces and the only solution to passing the kurdistan region's share is to hand over oil and all their other revenues to the federal government like other provinces so that we can vote for them on their share of the budget and without handing over their revenues, we will not allow Kurdistan to be given one dinar," he said. "Most members of the House of Representatives, especially the deputies of the southern provinces, are determined to hand over the region's oil and revenues to border crossings and airports to the federal government, without which they will not pass the region's share in the budget, and any party that tries to agree at the expense of our devastated provinces will be held accountable inside the dome of parliament and will not negotiate at the expense of our provinces once and for all," he said.
  18. This is the key piece of this guys concern, which is why Iraq maintains a peg to the US dollar, thus no games. As far as controlling the mass of money, once a revalue of the exchange rate is instituted whatever stored currency will have no choice but go to the banks for lower denominations since they won't be able to spend large notes in the local market. [The current drop of the exchange rate and further drops suggested has caused much of the chunky money to be exchanged to dollar for wealth preservation.] MHO
  19. Deputy: Parliament will present the budget for the first reading tomorrow 14:37 - 09/01/2021 Information/ Special... House of Representatives Member Yonadam Kana confirmed Saturday that the House of Representatives will introduce the 2021 federal budget bill for first reading on Sunday. "The house's agenda for tomorrow will not include any laws other than budget debate," Kana said. "The House of Representatives will introduce the budget bill for the first reading on Sunday," he said. The parliamentary finance committee said Wednesday that the government's talk of a 2021 federal budget bill was a "critical" reform. Ended 25 T
  20. This was always the overlooked portion.....Joe Biden can go suck it too.
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