Financial expert calls for the central bank to take the necessary measures to save the Iraqi dinar exchange rate

[yota691]

Financial expert calls for the central bank to take the necessary measures to save the Iraqi dinar exchange rate 

15-05-2013 12:37 PM 

  

 

 Baghdad (news) .. He favored a financial expert Abdul Sattar al-Hashemi, the continued reduction of the Iraqi dinar exchange rate against the U.S. dollar unless there are serious by the central bank to develop a plan to save the national currency. 

 

Hashemi said (of the Agency news): The Iraqi dinar exchange rate is moving downward against the U.S. dollar since the new administration came to the Central Bank and so far, and this is indicative of the failure of monetary policy and the weakness of the current administration of the bank. 

 

He added: that the central bank demands to take the necessary measures to save the national currency, because the continuing decline will pull the country into a major economic problems, such as high rates of inflation and increasing prices in the market as well as its impact on the monetary reserves of the Central Bank. 

 

This witness the exchange rate of the Iraqi dinar declined significantly against the U.S. dollar, which made some economists are expressing fears of a continued decline and its direct impact on the Iraqi economy. / End / 8.'s. M / 

[EagleEye]

so can we finally agree to RV ...I mean isn't that the OBVIOUS solution ?? Appreciate your sleuthing Yota, you add a lot to this forum !  

[sandfly]

THATS WHAT I THINK

[BigJake]

Maybe they should bring Shabibi (sp?) back!

[TQueezy]

Shabibi was laying out plans to redenominate the currency which would have been bad for us. Trust me, you don't want him back in control of the CBI again.

[arborboss]

Just make it 1-1 and everything will be alright.

[yota691]

Shabibi was laying out plans to redenominate the currency which would have been bad for us. Trust me, you don't want him back in control of the CBI again.

Who told you that...Can you Provide a Link to that Statement...And no I don't Trust ya with what your saying an GM...

[geman]

It would be great but not realistic, But I do feel they are losing there people if they don't do something soon like in the coming days ( sorry couldn't resist) Like a dime or higher to show there people it is going in the right direction. jmo

[TQueezy]

Shabibi has repeatedly stated his intentions through his deputy about deleting the zeros, which as we all know means redenomination.

[waterman13]

TQueezy, I think you may be not understanding Shabibi's intentions. He has stated several times that Iraq will have the strongest currency in the middle east. The removal of the zeros that people talk about, I believe is the removal of the 3 zero notes from circulation. To do that, you need a much higher exchange rate. Mr. Shabibi is a well educated, well spoken man trained in the world bank and the IMF's ways of doing things. He is one of the IMF's insiders, and this whole thing is their plan. It will happen, it's just not time yet.

WM13

[mrref]

 

Shabibi was laying out plans to redenominate the currency which would have been bad for us. Trust me, you don't want him back in control of the CBI again.

 I'm sorry but where have you been???You are not a newbie, Do you keep up with the news???Shabibi was on our side, why do you think they got rid of him??

[TQueezy]

Hahahah alright guys... Fine.

I'd looooove to see some hard evidence Shabibi was promising an overnight revaluation / 100,000%+ increase in the value of the Iraqi dinar against the dollar. Would just be fantastic.

He was redenomination King. No doubts about that.

[yota691]

Hahahah alright guys... Fine.

I'd looooove to see some hard evidence Shabibi was promising an overnight revaluation / 100,000%+ increase in the value of the Iraqi dinar against the dollar. Would just be fantastic.

He was redenomination King. No doubts about that.

We Looooove to see your's...  

[TQueezy]

We Looooove to see your's...

Yeah, so no one can prove whether or not Shabibi was for or against our dream RV. Lets drop it and go back to hoping and wishing while Iraq twiddles their thumbs and laughs at us...

Edited May 15, 2013 by TQueezy

[keepmwlknfny]

Who told you that...Can you Provide a Link to that Statement...And no I don't Trust ya with what your saying an GM...

You can check the numerous articles YOU posted about deleting the zeros.....

 

How did you miss it?

Shabibi has repeatedly stated his intentions through his deputy about deleting the zeros, which as we all know means redenomination.

You are correct....unfortunately, it seems the gurus have done their job well in confusing people into believing the dropping the zeros is actually what we want, as if the CBI is coming right out and telling the world they are going to revalue to a dollar.....

[TQueezy]

I'm hoping by end of 2013 we'll see a managed float from $0.10 up to around $1.17 like Iraq showed in studies they could support and wanted to. No redenominating or replacing of currency, just adding lower denom notes of the same currency as exchanges occur with old dinar and dollars for new lower notes. We can only hope...

[yota691]

You can check the numerous articles YOU posted about deleting the zeros.....

 

How did you miss it?

I've not miss a Thing...Keep.. just waiting and hanging out on this POP.. If you got some Dinar let's do a Little wager if RD you get mine...If RV I get yours....What you say...you in...

[caz1104]

I'm hoping by end of 2013 we'll see a managed float from $0.10 up to around $1.17 like Iraq showed in studies they could support and wanted to. No redenominating or replacing of currency, just adding lower denom notes of the same currency as exchanges occur with old dinar and dollars for new lower notes. We can only hope...

I like your "hope"-peace

[keepmwlknfny]

I've not miss a Thing...Keep.. just waiting and hanging out on this POP.. If you got some Dinar let's do a Little wager if RD you get mine...If RV I get yours....What you say...you in...

You havent missed a thing but yet you told Tqueezy to prove with links about Shabibi wanting to redenominate??

 

Thats odd.....

[dinarbeleiver]

I've not miss a Thing...Keep.. just waiting and hanging out on this POP.. If you got some Dinar let's do a Little wager if RD you get mine...If RV I get yours....What you say...you in...

i would also like to take keepem up on that bet

[zigmeister]

I agree with Tqueezy and Keep this is what Shabs had in mind.  What people forget if Shabs had an RV in mind he could have done that without government/parliament approval.  However what he had in mind needed their support and go ahead.  This is the plan they, the government/parliament postponed.  They state on the CBI site they as of now have officially postponed the deletion of zero's.  I don't think it gets clearer than that.  The statement provided is very clear as to the intention and proposition that was on the table.

 

So if anyone questions this, you have to look at what did and did not happen.

[Retiredofficer]

I agree with Tqueezy and Keep this is what Shabs had in mind.  What people forget if Shabs had an RV in mind he could have done that without government/parliament approval.  However what he had in mind needed their support and go ahead.  This is the plan they, the government/parliament postponed.  They state on the CBI site they as of now have officially postponed the deletion of zero's.  I don't think it gets clearer than that.  The statement provided is very clear as to the intention and proposition that was on the table.

 

So if anyone questions this, you have to look at what did and did not happen.

I agree...now off with their heads! A RD would afford me the means to purchase a couple dozen golf balls.

[dontlop]

Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country.

Said Antoine told him the reporter, "news agency Iraqis," that: "reserves the central bank alone is not enough to maintain the stability of the Iraqi economy, where you must rely on reserve economist is the stock of oil and gas, because the reserves the central bank money and gold is not equal to the export of oil to one year . "

Noting that: "The principal reserve that is possible to protect Iraq's economy is the stock of oil and gas in the ground," and explained that "the statistics of the Ministry of Oil, suggests that the oil reserves reached about 150 billion barrels and 19 billion m3 of gas, up to the month of February of the year Current. " around 20 trillion dollars worth in the natural storage facilities   underground 

Read more: http://dinarvets.com/forums/index.php?/topic/148518-economist-calls-for-the-adoption-of-the-oil-and-gas-reserve-of-the-central-bank-economist/#ixzz2TNShdHhB

Edited May 15, 2013 by dontlop

[zigmeister]

S

 

Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country.

Said Antoine told him the reporter, "news agency Iraqis," that: "reserves the central bank alone is not enough to maintain the stability of the Iraqi economy, where you must rely on reserve economist is the stock of oil and gas, because the reserves the central bank money and gold is not equal to the export of oil to one year . "

Noting that: "The principal reserve that is possible to protect Iraq's economy is the stock of oil and gas in the ground," and explained that "the statistics of the Ministry of Oil, suggests that the oil reserves reached about 150 billion barrels and 19 billion m3 of gas, up to the month of February of the year Current. " around 20 trillion dollars worth in the natural storage facilities   underground 

Read more: http://dinarvets.com/forums/index.php?/topic/148518-economist-calls-for-the-adoption-of-the-oil-and-gas-reserve-of-the-central-bank-economist/#ixzz2TNShdHhB

So this may be the plan forming today.  The work around.  

[stealthwarrior]

Nobody knows.