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Are they talking about removing 35 trillion in dinar out of circulation ?


dontlop
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2/2/2014 0:00

Selling gold to the citizens aims to be towed

Baghdad - Mostafa Hashemi

longer sell gold bullion to the public of important issues in maintaining the stability of prices and the withdrawal of liquidity from foreign currency amounting to - according to an official - 35 trillion dinars and converted into the origins of the precious metal as a measure to curb inflation in Iraq .

was the central bank has decided recently coined a variety of alloys pure gold weights ranging between (5 g and 1 kg)., declaring direct actions contracted to import and then sell them through the banking system. sees director of banks in the Ministry of Finance, Dr. Hilal Taan that The Central Bank this measure comes to control the levels of inflation and the reduction of high prices.

added Taan told (morning) that the sale of gold from the central bank to citizens represents a process of withdrawing liquidity from trading where the liquidity in the market about 35 trillion dinars, and this large number Central Bank seeks to downgrade following the procedures of monetary policy.

confirmed its part, economic researcher Suhad Athari, said the central bank announced the sale of gold to the citizens as well as Treasury Notes and the dollar would ease the liquidity as well as he promotes price stability. She told the (morning) that this measure would diversify the means savings for citizens and raise the purchasing power of the currency is likely to witness the price of gold marked decline his request in the market.

drew virgins that this would also reduce the rate of inflation of the currency where it can be reduced from by absorbing liquidity from the dollar in both the banks and the citizen, and turn it into a precious metal, because it is more stable in the prices of the dollar, which is subject to the repercussions of the economic situation between the United States and China and other countries, as well as the difficulty of transporting gold and turn it out of the country Mijolh keeps prices rates safe.

virgins and concluded her speech by saying that the central bank through its monetary policy aims to achieve high growth rates and a stable exchange rate and move the process through the distribution of credit loans to the most vital sectors thus leading to economic development. SUS ended

Read more: http://dinarvets.com/forums/index.php?/topic/171388-35-trillion-dinars-the-volume-of-cash-in-circulation/#ixzz2sCjmdZz1

It's just a question

Yota posted this this morning it was not discussed very much above

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This part

withdrawal of liquidity from foreign currency amounting to - according to an official - 35 trillion dinars and converted into the origins of the precious metal

Ya yota

Just trying to get more prospective on it

And this

it can be reduced from by absorbing liquidity from the dollar in both the banks and the citizen, and turn it into a precious metal,

And this

She told the (morning) that this measure would diversify the means savings for citizens and raise the purchasing power of the currency is likely to witness the price of gold marked decline his request in the market.

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They could be talking about pulling in some of the 35 trillion by getting the banks to absorb gold and dollars in place of some of that 35 trillion dinar

Its a start to reducing the supply to get the exchange rate higher

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Here is kaperoni's take and tlars take on it

2-2-2014 Newshound Guru Kaperoni ...We know based on the auction results that in fact, just the opposite is occurring...that the CBI cannot maintain the desired 2% spread and in fact the dinar is getting weaker. And the suggestion of selling gold or bonds for monetary policy supports that information. Back in 2012, an article or two came out that Shabibi removed 12 trillion dinar through the auctions over a 3 month period...much of which I am sure went back...for salaries, etc.

2-2-2014 Newshound Guru Kaperoni Article: "35 trillion dinars, the volume of cash in circulation" ...the very principles of the currency auction tell us that dinar has to remain in circulation until they begin the transition. Remember that the Auctions primary purpose (and the CBI's) is monetary stability. That is achieved by a balance of currency dinar to dollar. If one or the other depletes, it creates demand for that currency. Therefore, if the dinar was being significantly removed, a substantial amount of pressure would be on the dinar value to rise in the market.

2-2-2014 Newshound Guru Tlar If we are to believe that today there is 35 trillion in circulation, we would have to believe the money supply in dinars has grown from 4 trillion in 2012 to 35 trillion by the end of 2013. The only thing that can be proved is Saleh's statements from early 2012. That would be the beginning numbers that the press has repeated over and over since then. Since 2012 the CBI has not produced any numbers on dinars out and dinars circulating in Iraq.

2-2-2014 Newshound Guru Tlar Article: "35 trillion dinars, the volume of cash in circulation" 35 trillion is a press stock number from early 2012 told to the press by Saleh. The CBI has not revealed how many dinars are in circulation since this was disclosed by Saleh in early 2012. Saleh also disclosed that there was only 4 trillion out of the 35 trillion circulating in Iraq at that time. Iraq has been dollarizing for 16-17 months. I doubt that there is even 4 trillion dinars left circulating in Iraq.

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dontlop,

 

Yeah, that is the part that caught the most of my attention as well. 

 

As for figuring out EXACTLY what they REALLY mean here... I guess what I get out of it is that they will be TAKING away from the foreign currency's liquidity, and what foreign currency do they deal with? Doesn't state HOW MUCH liquidity they will remove. Then they will also convert 35 trillion dinar into more than likely GOLD. 

 

We should also take into account that things get lost in translation so, should always include that in the equation.

 

Not sure if they mean that by converting the dinar into metals that the result will be the reduction in foreign currency reserves but, I guess it could to some degree but, I doubt it would be anywhere near that amount. I'm not a currency expert or mathematics whiz in any sense of the word so, this is of course just my own thoughts about it.

 

Something more to ponder...

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Right on Dontlop.... Shabibi was trying to remove IQD from circulation. Reason being is that the less currency available for circulation, the more valuable it will be. But, he got fired (or removed), so could not continue his plan,

 

Now, Iraq all of a sudden relaized that they now have a lot more IQD in circulation, which makes their currency weak (less in value). So, getting the banks to change IQD for Gold is a great idea to reduce IQD circulation, and increase IQD value. They shouls have kept Shabibi on board... I don't think they realized what he was trying to do.

Edited by jomans
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dontlop, Yeah, that is the part that caught the most of my attention as well.  As for figuring out EXACTLY what they REALLY mean here... I guess what I get out of it is that they will be TAKING away from the foreign currency's liquidity, and what foreign currency do they deal with? Doesn't state HOW MUCH liquidity they will remove. Then they will also convert 35 trillion dinar into more than likely GOLD.  We should also take into account that things get lost in translation so, should always include that in the equation. Not sure if they mean that by converting the dinar into metals that the result will be the reduction in foreign currency reserves but, I guess it could to some degree but, I doubt it would be anywhere near that amount. I'm not a currency expert or mathematics whiz in any sense of the word so, this is of course just my own thoughts about it. Something more to ponder...

I don't see where they would use reserves

It says foriegn currency

Like the dollars they auction off each day from oil sales they could buy gold and somehow auction some gold as well as dollars to bring in more dinar than they already do in the auctions

Your right the translations always get in the way

Thanks

This to

Suhad Athari, said the central bank announced the sale of gold to the citizens as well as Treasury Notes and the dollar would ease the liquidity

Read more: http://dinarvets.com/forums/index.php?/topic/171449-are-they-talking-about-removing-35-trillion-in-dinar-out-of-circulation/#ixzz2sCu65W3k

director of banks in the Ministry of Finance, Dr. Hilal Taan that The Central Bank this measure comes to control the levels of inflation and the reduction of high prices.

added Taan told (morning) that the sale of gold from the central bank to citizens represents a process of withdrawing liquidity from trading where the liquidity in the market about 35 trillion dinars, and this large number Central Bank seeks to downgrade following the procedures of monetary policy.

Read more: http://dinarvets.com/forums/index.php?/topic/171449-are-they-talking-about-removing-35-trillion-in-dinar-out-of-circulation/#ixzz2sCumz29g

The topic title above in the news section was misleading And didn't get much attention

So it looks like they want to control the amount of dinar circulating

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Thanks dontlop....I guess I'm way off on readin' this...I took it that Iraq would sell gold for foreign currency from their gold reserve for market price... then put the foreign currency in the exchange account and just reduce the amount of gold sold for their own dinar...at 1166 to dollar this would take alot of 2,500 dinar notes out of cirrulation in big chunks at a time...

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dontlop, My bad! When I read the article I swear it said foreign currency reserves... I even went back and looked at it a second time before posting lol... WOW! I'll just shut up now.

Naw don't shut up

I appreciate everyone's take

Like you said the translations are throwing us off

I'm not sure what exactly they mean

If it is just to keep the rate stable or to reduce the liquidity

Hopefully they are telling us they are bringing down the amount of dinar in circulation to add value

They are saying they are reducing liquidity in banks and the public

At first I thought they were reducing the dollars too

Like the start of de- dollarization

Thanks dontlop....I guess I'm way off on readin' this...I took it that Iraq would sell gold for foreign currency from their gold reserve for market price... then put the foreign currency in the exchange account and just reduce the amount of gold sold for their own dinar...at 1166 to dollar this would take alot of 2,500 dinar notes out of cirrulation in big chunks at a time...

Ya I thought they were going to sell gold for foriegn currency too like de- dollarize because of the dollar losing.value because of the debt then I saw they want to reduce the dinar in circulation to add value to the dinar

Maybe they will return to that crawling float

Who knows

They did say a few weeks back they wanted to increase the dinar value by 20% to cover the tariffs

Hopfully we will see some follow up story's of this actually happening and we can get a better picture

Edited by dontlop
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Right on Dontlop.... Shabibi was trying to remove IQD from circulation. Reason being is that the less currency available for circulation, the more valuable it will be. But, he got fired (or removed), so could not continue his plan,

 

Now, Iraq all of a sudden relaized that they now have a lot more IQD in circulation, which makes their currency weak (less in value). So, getting the banks to change IQD for Gold is a great idea to reduce IQD circulation, and increase IQD value. They shouls have kept Shabibi on board... I don't think they realized what he was trying to do.

 

Yes, Shabibi was trying to remove IQD from circulation with a re-denomination.  It's the same plan that the CBI has today.  The only question is when to do it.

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Dr. appearance of Mohammed Saleh called in this context to take measures to reduce dollarization, (which means giving priority to dealing in dollars to deal with the rest of currencies or gold), and to raise the value of the dinar because it is covered with cash reserve is excellent.

Saleh said in a statement (morning) that the phenomenon of mistrust Baaltaaml interior of the dinar came Ketbat conditions experienced by Iraq in the eighties and nineties of the last century, is reason now to take measures, including preventing any business dealings internal to the dollar and restrict external transactions such as travel, treatment, and other than that required to buy the dollar.

Read more: http://dinarvets.com/forums/index.php?/topic/171454-reduce-dollarization-»enhances-confidence-in-dinars/#ixzz2sDv3qUab

New one

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why would they use gold coins? a) they dont plan on giving value to the dinar, making small denoms useful. B) the iqd is so unpopular, the citizens would rather have gold. B) to help stabilize monetary policy.

lmao. this admitted failure of not having faith in their local currency.

yes, the cbi eventually plans on removing and demonitizing the iqd and all its notes

Edited by sandstorm
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The last two posts sure do show a great intelligence level wow thanks guys your input was fantastic

pointed to the importance of a trade with neighboring countries in Iraqi dinars instead of the dollar gives a greater incentive to boost the confidence of the Pacific Regional also in local currency, noting the possibility of taking this action and educate traders of the importance of dealing in local currency and the reflection of this on the economy of Iraq as a whole.

referred to the existence of Iqbal foreign investors abroad to buy dinar Iraqi of global financial markets, where they hope that the rising value in the near future as he returned to the circulation of a new global financial markets to cover cash reserve exceeded 80 billion dollars through increased oil production and higher GNP Iraq provided significant support for BD enabled him to engage in global financial markets for trading.

Read more: http://dinarvets.com/forums/index.php?/topic/171454-reduce-dollarization-»enhances-confidence-in-dinars/#ixzz2sGyg9GU8

Break it down

Understand it

Teach it well

Don't pretend you didn't see it either

And hit the read more

Learn more

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The last two posts sure do show a great intelligence level wow thanks guys your input was fantasticpointed to the importance of a trade with neighboring countries in Iraqi dinars instead of the dollar gives a greater incentive to boost the confidence of the Pacific Regional also in local currency, noting the possibility of taking this action and educate traders of the importance of dealing in local currency and the reflection of this on the economy of Iraq as a whole.

referred to the existence of Iqbal foreign investors abroad to buy dinar Iraqi of global financial markets, where they hope that the rising value in the near future as he returned to the circulation of a new global financial markets to cover cash reserve exceeded 80 billion dollars through increased oil production and higher GNP Iraq provided significant support for BD enabled him to engage in global financial markets for trading.

Read more: http://dinarvets.com/forums/index.php?/topic/171454-reduce-dollarization-»enhances-confidence-in-dinars/#ixzz2sGyg9GU8Break it down Understand it Teach it wellDon't pretend you didn't see it either And hit the read more

Learn more

you dont get it. lol

iraq keeps coming up with every other idea than raising the value and/or issuing lower denoms. and somehow all the alternatives are all about raising the value. lol

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you dont get it. loliraq keeps coming up with every other idea than raising the value and/or issuing lower denoms. and somehow all the alternatives are all about raising the value. lol

Well I can see your gonna be needin a tutor again

It's not that hard

Just go back and read it again

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