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easyrider

**CBI to apply mechanism to raise the value of the IQD before June**

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Finance Committee: CBI to apply mechanism to raise value of IQD prior to June 2014; The reliance on CBI monetary policy open

Posted: August 20, 2013 in Iraqi Dinar/Politics
Tags: Central bank, exchange rate, Iraq, iraqi, Iraqi dinar, Monetary policy, United States dollar, United States Senate Committee on Finance
| on 8/20/2013
Confirmed the parliamentary Finance Committee that “the first cause the dollar to rise against the Iraqi dinar lies in the political set by the Central Bank as the monetary policy pursued by the central bank with the companies and banks that deal with the bank.”
A member of the Committee Faleh applicable to the newspaper “integrity electronic” that “the central bank told the Finance Committee in the House of Representatives will be followed by a new mechanism in place will contribute significantly raise the value of the Iraqi dinar ahead of next June will be the mechanism capable of raising the value of the Iraqi dinar against the U.S. dollar.”
The force added that “the central bank to reduce the size of the companies that deal with it and put the money in the auction, which will lead to a reduction in the value of the dollar and reliance on monetary policy open without complicated procedures and controls and open a wider field of hopes the government banks.” It is noteworthy that the banknotes market witnessed a clear variation in the exchange rate of the U.S. dollar against the Iraqi dinar.
http://bit.ly/18HIUtT
===
Alternate translation:
Financial: reliance on Central Bank monetary policy open

| On 2013-08-20
The parliamentary Finance Committee stressed that “the primary cause of high dollar to Iraqi dinar lies in the political set by the Central Bank since the monetary policy pursued by the Central Bank with businesses and banks that deal with the Bank”.
The Committee Member said Faleh Sari for daily “Alalam” that “the Central Bank told the House Finance Committee will follow the new theme mechanism will make a significant contribution in raising the value of Iraqi dinars before next June and will be the mechanism to raise the value of the Iraqi dinar against the US dollar.”
He said in effect that “on the Central Bank to reduce the size of the companies that deal with money raised in the auction, which will lead to the reduction of the value of the dollar and rely on open monetary policy without complicated procedures and controls and opening wider the hopes of State banks. The banknote market has seen obvious variation in the exchange rate of the US dollar against the Iraqi dinar.
http://bit.ly/19vorJI

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This was an article from last August and the link doesnt work, at least on my iphone it doesnt.

i agree this was sent to me just noticed the links are gone but these were real articles last august. interesting. Ill see if i can get working links.

Edited by easyrider
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I remember these articles.  Didn't like them at the time, but now they sound great.  Would be great to see even a minor change in the rate.

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They are faking us out for some reason

They wouldn't need to fake anyone out for a lop

Turkey didn't fake everyone out before they lopped

I say give Iraq its credit rating and its 180 billion dollars from abroad to add to the 90 billion reserves

And give us our 3 dollar dinar with the new budget and once they collect the 20% of the currency that's out side Iraq

Then float the value of the dinar up 20% and that will give Iraq the money back that they gave us

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They are faking us out for some reason

They wouldn't need to fake anyone out for a lop

Turkey didn't fake everyone out before they lopped

I say give Iraq its credit rating and its 180 billion dollars from abroad to add to the 90 billion reserves

And give us our 3 dollar dinar with the new budget and once they collect the 20% of the currency that's out side Iraq

Then float the value of the dinar up 20% and that will give Iraq the money back that they gave us

I like the way you think !!!!

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Well.... June is around the corner... :)

Thanks Easy ;)

Like your thinking dontlop

Lets bring the baby home :)

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The problem is that what they say they will do and actually accomplish are two different things.

We were to expect a budget announced and change in Janurary past. They are likely on a plan that is unfolding, but we have no clue what is left and what is done, nor the timing. Let's sincerely hope that this will be done soon.

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I wouldn't get my panties in a wad over these articles.  The Finance Committee has been putting out articles like this since 2010.  What's in our favor is:

 

1.   Iraq looses protection of their funds abroad

2.   Iraq has no money to finance the government ( so far no loans form the IMF)

3.   The CBI has pulled a vast amount of the three zero notes from the economy

4.   Maliki has given the go ahead (if he serves a third term)

      a. for economic reform

      b. for the approval of oil and gas law

      c. for the initiation and establishment of the Federation Council

      d. implementing the Law of Governants Not Organized decentralization ($5.00 per barrel of oil )

 

What's not in our favor is

1.   the instability of the government

2.   the acts of terrorism

3.   the threats by Maliki to take over the CBI

4.   the inability to approve the necessary laws.

 

All these factors are JMO   :)

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I have moved my IQD to a museum to properly maintain the light and temp on them so they don`t deteriorate.

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I don]t care if the articles were written in June of last year.  This says what they are planning to do with the dinar . . . raise the value against the dollar!  

 

I'm waiting for the "Naysayers" to come in a "Yes, but. . ." post!   It just doesn't support their theory.  And as far as some of these "financial news" reports reporting that the dinar investment is a scam . . . FLUSH THE TOLET.  They are a ruse of the US government or just plain stupid.  JMO.

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I called BS on these articles last year when they came out & they where talking about it happenong in 2013 not 2014 I would not put much into this as they were from a year ago.

 You want to talk about old articles where is the 1000 to 1 rate Shabbs promised & when Turki took over he made the same claim so where is it. Where is the bond sales that will remove dinar from the streets to bring the CBi spread to the street rate back into the 2% spread. where is the sale of gold to the citizens to remove dollars & dinar off the streets of Iraq.

Until they do the action of these things they are not making any moves any time soon.

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