Economic center: dinar become undesirable internationally after withdrawal of Iraq from Chapter VII sanctions

[yota691]

Economic center: dinar become undesirable internationally after withdrawal of Iraq from Chapter VII sanctions

14-07-2013 07:23 AM

 

 

Baghdad (news) .. He favored Prime Media Center Economic Dergham Mohammed Ali, to become the Iraqi dinar currency desirable to deal internationally after the withdrawal of Iraq from the provisions of Chapter VII internationalist. said Mohammed Ali (of the Agency news): The withdrawal of Iraq from Chapter VII will of the Iraqi currency accepted internationally and wider than it is now where it was in the past acceptable regionally and traded in countries that fly its tourists Iraqis. continued: but the term will be expanded to increase trade and increased international openness as long as there cover guarantor of foreign currency to the local currency. said: He does not have a direct correlation between the exit Iraq from Chapter VII and the dinar exchange rate that the exchange rate linked to local factors and is linked to the management of monetary policy in the country through the auction, supply and demand and the effectiveness of speculators in effect, in addition to less effect of concussions imported inflationary. This has UN Security Council voted on the exit of Iraq from the provisions of Chapter VII after Iraq fulfill its obligations to repay the debt owed ​​it to some countries. / End / 8. g. / mm

 

 

[sandfly]

RV IT AND WATCH IT GO UP

[jsilveira66]

RV IT AND WATCH IT GO UP

exactly

[Rayzur]

Very cool they are talking openly.... addressing  the linkage between Chapter 7 and exchange rate...  in the sense that they are at least talking about the two in the same sentence as have we for the past year....

 

Also seems to fit in nicely with the par value discussion on the IMF thread with a pinch of UN report thrown in. Seems to be running down the same track finally... wow...

 

Thanks Yota !

[yota691]

After....  

[keepmwlknfny]

Unless i am reading it wrong it states there is no correlation between CH7 and the exchange rate.......

Comments anyone? Can.we strike that off the list of things that "needed to be done" before they can RV?

[docneedles]

darn, unfortunately, you are correct.

 

"He does not have a direct correlation between the exit Iraq from Chapter VII and the dinar exchange rate that the exchange rate linked to local factors and is linked to the...

 

[sxsess]

Unless i am reading it wrong it states there is no correlation between CH7 and the exchange rate.......

Comments anyone? Can.we strike that off the list of things that "needed to be done" before they can RV?

Any currency that is worth it's weight in toilet paper is undesirable.

[keepmwlknfny]

Any currency that is worth it's weight in toilet paper is undesirable.

Well yea I can understand that.....but just simply that this article points out that there is no relation between CH7 and the exchange rate of the dinar, then it lists what does relate to it....

[iqdheadlines]

Well yea I can understand that.....but just simply that this article points out that there is no relation between CH7 and the exchange rate of the dinar, then it lists what does relate to it....

 

A majority of countries that have had international sanctions placed on them, their currency has plumpeted to all time lows and quite often worthless.

 

Look at countries like Vietnam, Iran, North Korea and Iraq.

 

Since the international sanctions that was previously placed and recently lifted of Iraq, formed CH7.........and CH7 was what made the Iraqi dinar fall to an all time low to a worthless value which is current.

 

So I would have to disagree with the article being interpreted as saying that there is no relation between international sactions and the exchange rate.

[abby01]

A majority of countries that have had international sanctions placed on them, their currency has plumpeted to all time lows and quite often worthless.

 

Look at countries like Vietnam, Iran, North Korea and Iraq.

 

Since the international sanctions that was previously placed and recently lifted of Iraq, formed CH7.........and CH7 was what made the Iraqi dinar fall to an all time low to a worthless value which is current.

 

So I would have to disagree with the article being interpreted as saying that there is no relation between international sactions and the exchange rate.

I agree! 

[ezrapound]

Maybe I'm missing something here, but how could the applied sanctions NOT affect them big time? Holy Cr**...they couldn't do business with the rest of the world...couldn't export, yada, yada, yada. Seems like a ridiculous assertion that there would be no correlation between the two....am I missing something here?

Edited July 16, 2013 by ezrapound

[keepmwlknfny]

If Saddam had complied with the sanctions properly, he wouldnt have ran the country into the ground......we put sanctions on him and his country and he fought it and tried to still do whatever he wanted. He failed miserably and their monetary system suffered......

 

What they are saying is that just because CH7 sanctions are completely gone, its doesnt mean the exchange rate will increase automatically......its not directly related. Because of the sanctions, Saddam overprinted the dinar and spent all the reserves.....CH7 didnt force that....CH7 didnt demand he do that.....those were his actions.....