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Parliament demands a halt to the dollar and the auction address Tehran Iraq and the economy with gold Dolarath


yota691
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Parliament demands a halt to the dollar and the auction address Tehran Iraq and the economy with gold Dolarath

07/02/2012 9:46

Baghdad / Orr News

I addressed the parliamentary economic committee of the Central Bank formally, to stop the sale and payment of the dollar auction, while the information indicates that the Iranian government, you are buying the dollar and the quantities of gold, of the provinces of Najaf, Karbala and Basra, to address the shortfall in Khozanha of gold.

It seems that the economic sanctions imposed by the UN Security Council on Iran has started to bear fruit, where it began the features through the depreciation of the Iranian Altoman even arrived at the "320" Tomana against one U.S. dollar, while in front of the Iraqi dinar has fallen by "50%".

The problem, according to economic experts, that these sanctions reflected a shadow on the Iraqi economy, especially gold and foreign exchange, has seen the city in recent days, the prevalence of the phenomenon of buying foreign currency by the Iranians and in large quantities striking called the deputy governor of Central Bank of Iraq to say: " This phenomenon will lead to the high price of gold and thus confuse the Iraqi economy, "a student at the same time to" deal with this phenomenon by the officials and as soon as possible. "

The head of the parliamentary economic committee Ahmed Alwani The Committee addressed the central bank to stop the sale and auction of the dollar until the issuance of instructions determine which authorities have the right to deal with hard currency, to ensure that leaked out of Iraq.

"The officials in the Iraqi Central Bank confirmed that they now are developing a new mechanism to participate in bids to buy the dollar, and how they will exchange the dollar and hard currency, and we will follow up this subject first hand in order to preserve cash reserves of Iraq."

The Alwani, that the smuggling of currency and a negative impact on the Iraqi economy is bad, and will affect the reserve currency, and the exchange rate of the dinar against the dollar, also has a serious political dimensions. He explained that Iran is suffering from the economic situation is bad because of international sanctions. They try by any means compensate for the damage, particularly with regard to foreign currency, and has no outlet other than Iraq, being considered an arena of influence is strong political, economic, and even security.

He continued: So they are trying to fill the deficit, even if there is damage to Iraq, and this can not accept it, and we will stand against all of Iraq is trying to unload in hard currency, and will not compromise on the country's wealth for the interests of others.

But Ibrahim Mohammed al-Mutlaq, a member of the House of Representatives and the representative of the Iraqi bloc says: "The phenomenon of buying foreign exchange in general and gold in particular is not confined to the province of Basra, but includes all parts of Iraq." He added: "According to statements by some officials said there was the equivalent of U.S. $ 80 million withdrawn from the Iraqi market out of the country and if this continues like this topic, it will lead to economic disaster will be resolved in Iraq." And called on the government represented by Ministry of Finance and Central Bank of Iraq to establish controls to reduce this phenomenon and process according to the contexts used in the face of such phenomena. "Does not mind al-Mutlaq of the exit of the dollar out of Iraq because he" comes from the door to pay the value of imports of the state or the private sector, but must to be out within certain controls are the most important not to get out of the States which imposed the blockade by the UN Security Council, because that would mean a departure from the international consensus, except as detrimental to the national economy. "

He was a member of the Committee of Economy and Investment National Alliance MP Amer winner, said earlier that the price of gold will rise in the whole of Iraq in the event of continuing increased demand to buy it in Basra. And Earlier reports indicated the existence of traders Iranians in Iraq and continuously accept the Basra market to buy gold in large quantities, considering gold a safe haven to avoid serious deterioration of their currency against foreign currency as a result of international sanctions imposed on Iran.

And forced Iran after the United States imposed economic sanctions and Europe for the purchase of hard currency from neighboring countries, and most recently Iraq, its openness to the control without security or political or economic, according to observers.

http://www.uragency.net/ur/news.php?cat=economic&id=7996

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K98 could you tell me what you got from this as i am having a hard time understanding it came off negative to me :lol:

I don't want to speak for K98 but here is my take on it......all highlighted areas are quotes:

This phenomenon will lead to the high price of gold and thus confuse the Iraqi economy, "a student at the same time to" deal with this phenomenon by the officials and as soon as possible. "....this says they need to do something fast...

"The officials in the Iraqi Central Bank confirmed that they now are developing a new mechanism to participate in bids to buy the dollar, and how they will exchange the dollar and hard currency, and we will follow up this subject first hand in order to preserve cash reserves of Iraq.".......I have a good idea,..why don't you use the Forex to sell off the USD and trade your IQD on the open market...

and will not compromise on the country's wealth for the interests of others.,.........now they see the big picture and say the hell with Iran and Syria we need to do what is best for Iraq...which is what is best for us investors and their people.....

Now do you see the good parts...I hope this helps

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"The officials in the Iraqi Central Bank confirmed that they now are developing a new mechanism to participate in bids to buy the dollar, and how they will exchange the dollar and hard currency, and we will follow up this subject first hand in order to preserve cash reserves of Iraq."

Hopefully the mechanism shall be to raise the value of the IQD high enough to incentivise the iraqis to trade USD for IQD. Thanks k98nights. :D

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that will stop this He traders currency in Sulaymaniyah exposure to fraud and fraud by traders Iranians in huge amounts, says currency trader in the city named Dilshad he had been a fraud amounting to four million dollars, adding that dozens of traders Kurds others were also subjected to such operations.

For his part, described Beeston Mohammed, owner of a franchise in Sulaymaniyah, the city's traders suffered from fraud and political program founded by the Iranian government has developed in order to hit the Iraqi market, saying that these millions is not to disappear countries face the involvement of government in which ..

Abdullah Saeed Al-Hajj

And the impact of these frauds on the market in Sulaimaniya and the volume of trade exchange between Iran and Iraq's Kurdistan region said Abdullah Haji Said, Advisor to the President for Economic Affairs in the province, that the relationship between the two parties a solid will not be affected, because the Iranian government is not party to this topic, pointing out that the volume of the money seized by the Iranians of Sulaymaniyah market of more than $ 500 million.

According to a doctoral student in economics Jalil Ibrahim said Iran is working against economic Bssayash Iraq involving three disadvantages, the most important of smuggling foreign currency out of Iraq, Iran and the replacement of the currency to the dollar, and the introduction of forged Iraqi currency ..

The size of the exchanges between the economic prospects of the region and Iran more than four billion dollars a year, mostly food and consumer goods ..

http://translate.goo...e/24476181.html

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Edited by yota691
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Besides what Stryker365 said, which I agree with, it has also been a generally accepted idea that the auctions would stop prior to an RV... so if they're talking about stopping them, that sounds good to me. Keep in mind I'm a news reporter and not a financial expert. :lol:

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"The officials in the Iraqi Central Bank confirmed that they now are developing a new mechanism to participate in bids to buy the dollar"

Bids? Huhh? Can this mean that traders have to bid for the right to participate on buying Dollars or are the Dollars going up to the highest bidder? Any of the two scenarios will give less value to the Dinar, which in turn might set a trigger to a Reval to adjust. JMMHO. Thank you for your post. GLTA and Go RV.

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Besides what Stryker365 said, which I agree with, it has also been a generally accepted idea that the auctions would stop prior to an RV... so if they're talking about stopping them, that sounds good to me. Keep in mind I'm a news reporter and not a financial expert. :lol:

Good point....K98 and thanks for being a reporter and all that bring the news....

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I don't want to speak for K98 but here is my take on it......all highlighted areas are quotes:

This phenomenon will lead to the high price of gold and thus confuse the Iraqi economy, "a student at the same time to" deal with this phenomenon by the officials and as soon as possible. "....this says they need to do something fast...

"The officials in the Iraqi Central Bank confirmed that they now are developing a new mechanism to participate in bids to buy the dollar, and how they will exchange the dollar and hard currency, and we will follow up this subject first hand in order to preserve cash reserves of Iraq.".......I have a good idea,..why don't you use the Forex to sell off the USD and trade your IQD on the open market...

and will not compromise on the country's wealth for the interests of others.,.........now they see the big picture and say the hell with Iran and Syria we need to do what is best for Iraq...which is what is best for us investors and their people.....

Now do you see the good parts...I hope this helps

Nicely done +1

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So. Iran has been responsible for the CBI Auctions running over 100-200 million in sales. For years. Anything IS Possible. Cut them off and they drop to 0-30 million. Iran had a bigger presence in Iraq then we ever thought. Or. No banks want the old currency. New currency about to appear. 7 Year Itch. Maybe some Humans will be Rich. Currency Auctions have dropped in value by 90% +. Humans are left with scratchy Heads. And Feeling a little Selsun Blue.

Edited by DinarBot
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***//

read somewhere on DV that China was able to sustain inflation in check by going on for YEARS as Iraq has been doing...

Is there a chance Iraq will go on for years w/no RV as well...?

No Sarge and I'll tell you why....there is a plan and we are seeing it unfold right in front of us...they have not printed anymore dinar in over a year, they need new currency that's going to cost them 150 million to do....they want to be a power house for the rest of the ME......they want a full market economy...I can go on and on but you can't do any of these with worthless wore out money......soon Sarge..soon...soooon

Edited by Stryker365
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***///

Thanks STRYK.... guess I just got up on the wrong side of the bed this mornin',

saw the same blah, blah, blah of what passes for news and got bummed.

Thanks for yankin' me back! ;)

Sarge, NP we're here to help each other, some great progress today according to a few articles.

You let me know if you ever need anything and I will try my best to help.....

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I don't want to speak for K98 but here is my take on it......all highlighted areas are quotes:

This phenomenon will lead to the high price of gold and thus confuse the Iraqi economy, "a student at the same time to" deal with this phenomenon by the officials and as soon as possible. "....this says they need to do something fast...

"The officials in the Iraqi Central Bank confirmed that they now are developing a new mechanism to participate in bids to buy the dollar, and how they will exchange the dollar and hard currency, and we will follow up this subject first hand in order to preserve cash reserves of Iraq.".......I have a good idea,..why don't you use the Forex to sell off the USD and trade your IQD on the open market...

and will not compromise on the country's wealth for the interests of others.,.........now they see the big picture and say the hell with Iran and Syria we need to do what is best for Iraq...which is what is best for us investors and their people.....

Now do you see the good parts...I hope this helps

your opinion is just as valued bro :lol:

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