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{Reduce dollarization »enhances confidence in dinars !


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CNN. Broadcasting While Raising The Roof And Also The Value Of The Dinar !

 

 

 

(by walkingstick)

إرسل الموضوع الى صديق 
{Reduce dollarization »enhances confidence in dinars



3/2/2014 0:00 

Baghdad - Mostafa Hashemi 
witnessing the domestic market since the eighties and nineties of the last century a decline in confidence in dinars and replacing it in most business dealings internal and external dollars are devoted to the continued existence of this case among the citizens. 

, and has contributed to this phenomenon is the emergence of the parallel market, which dropped Btatheradtha on the economy through the emergence of dual currency stand out in the business dealings small interior dinar is purchased materials and goods markets, while the purchase of cars and electrical appliances, the completion of transactions major business in dollars, is no reason to put an end to this phenomenon and processed in order to serve the economy. 

economic expert, 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. 

stressed that this measure would reduce the impact of the gray market and double the currency in Iraq, where the dealings small among citizens are dinars while we see that commercial transactions and sale of cars and appliances are made ​​in dollars, noting that this case is dedicated continuing lack of confidence in the local currency. 

noted economic expert to the need to strengthen the confidence in dinars because he covered cash reserve Excellent gold and foreign currency, as the the current stage requires the reduction of dollarization interior and make the public trust in the national currency, which could be backed up cash in other banks, pointing out that he does not mind it, provided, however, that Iraq is witnessing stable policies that continue to cash reserves to rise. 

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. 

was an American economist Website has commenced trading dinar years ago, along with other world currencies, defined as currency trading company registered with the State Department and the Treasury Department, and money for business services. 
طباعة

http://www.alsabaah.iq/ArticleShow.aspx?ID=63533

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Here Is BondLady's Admin Tlm's Comments On It ...

 

 

----- Subject: {Reduce dollarization »enhances confidence in dinars ~ Breakdown

 

 

[tlm724] Saleh is saying the time is right to restrict dollar usage and begin de-dollarizing !

the need to strengthen the confidence in dinars because he covered cash reserve Excellent gold and foreign currency, as the the current stage requires the reduction of dollarization interior and make the public trust in the national currency

[tlm724] the only way to increase confidence and trust is to add value to their currency, equal to or greater then the USD

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.

[tlm724] this is the warning shot to everyone who deals with currency, telling them to get ready , the change it about to happen !

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 market

[tlm724] there you have it, that's us as well as any country that holds Iraqi dinar's in their foreign currency reserves , investment houses etc.. Wink 

[tlm724] IMO we are right on the verge of seeing action towards the currency reform ! This isn't just some off the wall economist, it's Saleh ! If this doesn't excite you I don't know what will....

 

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Here's An Additional Article ...

 

 

Scaling the phenomenon of amplification enhances the dinar exchange rate        

2/2/2014 0:00 

Specialist: the monetary policy of the leading economic policies 
BAGHDAD - Hussein al-Tamimi Tgb 
Encircle the problems of monetary policy has become the focus of most of those concerned with financial, in order to reach the financial sector works of running a court check the economic viability of the country and promote all sectors and thus can create a multi-resource economy. 

Economic stability 

Competent affairs financial Samir Nasiri said that monetary policy is one of the most prominent economic policies aimed at achieving economic stability and stabilization of the exchange rate, which in turn increases the national economy, the strength and effectiveness to meet the economic challenges. Drew in an interview for the "morning" that the central bank has succeeded in achieving a reserve large foreign exchange reserves stood at more than 80 billion dollars and 30 tons of gold. Indicating that fixing the exchange rate of the Iraqi dinar against the dollar in the key (the dollar) is considered to be necessary and appropriate, and had a foreign currency auctions held by the Central Bank of Iraq played an important role in maintaining the appropriate level of the exchange rate and install it. 

Monetary Policy 

He said when he gets any pressure on exchange rates, the central bank will tighten monetary policy and narrowed and allow greater flexibility in the management of monetary policy. The CBI has taken several steps to expand the list of available tools of monetary policy, and the coverage of reserve required to include government deposits, and the granting of facilities on deposits that mature in a short period in order to allow banks to manage their liquidity situation in a way more effective. 
Financial system 

The Alnasiri has pointed out that monetary policy began to establish a framework of effective work towards strengthening confidence in Iraqi dinars. It helps the confidence in the local currency to create the conditions for strong and deep in the stability of the financial system, the effect of any transfer of operational objectives for monetary policy to achieve the immediate goals of the policy itself. And that the power to address the dollarization, is a measure of the effectiveness of monetary policy in the provision of reference moving to make the Iraqi dinar more attractive and that is usually reflected the stability of the demand function for cash or low velocity of money circulation and stability of any due to the influence of my reference exchange and interest variables positive actor in the stability of the cash demand. 

Rate of exchange 

And reduce the phenomenon of inflationary said that the gradual decline in the phenomenon of inflationary reflects the positive effects of the policy of the Iraqi Central Bank in promoting the exchange rate of the Iraqi dinar, which peppered effects of the strong stability of commodity prices interchangeable and that Eshrha at the same time the annual inflation basically expressed index of consumer prices , where this policy has led to a reduction in annual inflation rates of 53.2 percent in 2006 to 5.6 percent in 2012.
In the field of management system of public debt between Alnasiri the importance of working in accordance with the system of debt management and financial analysis for the UN in order to match the tables of the external debt of Iraq with creditors and issuing reports on the indebtedness and in coordination with the Department of public debt management at the Finance Ministry, explaining the importance of the role of the Iraqi Central Bank to do acted as financial advisor to the State for being the monetary authority's main country that they must avoid the economy negative trends and support actions that will strengthen the position of the Iraqi currency, and its stability and without coordination between fiscal and monetary policies, it can not ensure the achievement of the objectives of monetary policy, because the policy of the State Finance is one of the factors important and influential in the country's monetary developments in the framework of the independence of the Central Bank of Iraq and its monetary policy. 

Regulations 

He stressed the need to consult with the private banking sector before issuing regulations and executive instructions that enable banks to diversify their operations bank off-balance sheet in order to achieve highly competitive and access to financial resources, deadlines are different and reduce risk in the areas of investment and micro switch from the base of interest in making a profit which processes inside budget in terms of the acceptance of deposits and granting credit. 

Restructure banks 

He pointed out that the advancement of the government banking activity and put it on a competitive basis within the banking environment and promising a variety of tools and requires a restructuring of Rafidain and Rasheed, who dominate about 90 percent of the commercial banking activity in Iraq.
 
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Here Is Tlm's Comments On This 2nd Article ...

 

 

Scaling the phenomenon of amplification enhances the dinar exchange rate  2/2/2014

[tlm724] that monetary policy is one of the most prominent economic policies aimed at achieving economic stability and stabilization of the exchange rate

[tlm724] that the central bank has succeeded in achieving a large reserve foreign exchange amounted to more than 80 billion dollars and 30 tons of gold.

[tlm724] Indicating that fixing the exchange rate of the Iraqi dinar against the dollar key in (the dollar) is considered to be necessary and appropriate, and had a foreign currency auctions held by the Central Bank of Iraq played an important role in maintaining the appropriate level of the exchange rate and install it

[tlm724] It helps the confidence in the local currency to create the conditions for strong and deep in the stability of the financial system

[tlm724] And that the power to address the dollarization, is a measure of the effectiveness of monetary policy in the provision of reference moving to make the Iraqi dinar more attractive

[tlm724] moving to make the Iraqi dinar more attractive *hallelujah*

[tlm724] to support actions that will strengthen the position of the Iraqi currency and stability and without coordination between fiscal and monetary policies

[tlm724] work it !

Read more: http://dinarvets.com/forums/index.php?/topic/171521-bondlady-admin-tlm-the-cbi-has-reserves-of-80-billion-30-tons-of-gold/#ixzz2sHaQkQa2

 

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The Olympics Are Starting This Week - Go For The Gold ...

 

 

 

(by walkingstick)

Experts: Iraqi Central Bank controls the gold market

03/02/2014

CBB42D07-ADD5-414D-8F22-0649508173C8_w26

Economists forecast that the central bank controls the Iraqi on the gold market in the country, after he sold gold coins for investors and citizens, with weights ranging between (5-1000) g, as well as possession of more than 30 tons of gold as a reserve currency. says the director of government banks in the Ministry of Finance Hilal Taan that "the right of the bank to exercise Adaute in the management of monetary policy, especially after the success in controlling inflation in the currency," expected to "be a great cooperation between the central bank, and the drafters of gold in Iraq, through the central bank Piea gold prices competitive, to reduce imported from abroad, especially the Gulf states. " 

According to observers, Iraq is one of the leading markets in the gold trade, as it imports nearly 50 tons per year, but that gold recently suffered from the global decline in prices, with an average price Almthagal of 21-gauge, 220 000 dinars. says Executive Director of the Association of private banks Abdul Aziz Hassoun that "cooperation could arise between the central bank and private banks, which will work on the sale and distribution of gold to the citizen." On the other hand emphasizes the economic expert on behalf of Jamil Anton "the need to maintain circulation gold locally, and not being exported out of Iraq, in order to save the price of the Iraqi currency, and reduce reliance total trading in U.S. dollars. " and moving Iraq policy cash to reduce the circulation of foreign currency, and is considered a bill to remove the zeros from the Iraqi currency, one of the elements of that policy.

http://www.iraqhurr.org/content/article/25251437.html

 

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Here Are Some Comments From Randy (AggieDad77 On Frankie's Site) About The Above Article ...

 

 

 

Family.....IMO this is incredible

Here in this article that WS posted just today we have a couple of different economists talking about Iraq and its GOLD

Very similar to the article WS posted yesterday that is quoted in his post

The first says that the CBI is forecast to control the sale of GOLD.....well who else would do it

Then we have a director of gov banks in the Finance Ministry saying....who else....especially after how they have managed inflation.....I agree

And later we have another economist talking about their GOLD...how keeping it in local circulation will save the price of the Iraqi currency.....will reduce the circulation of foreign currency....and is considered a necessary step towards removing the 000's from the IQD

These are good indicators.....more information that points toward the right direction

Continuing to see these types of articles.....IMO....is more important than what we are seeing about the budget today....much more important.


Randy

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