DISCUSSION ON CURRENCY EXCHANGE FROM THE IRAQI ECONOMIST'S SITE - WOW

[Tacman]

Thanks T-Bomb, as a financial guy who's degree focused on World Markets, I like to see discussions of this sort as now we know for sure what their thought process is!

[TBomb]

ME TOO, TACMAN - THANKS VERY MUCH DENIS!

[Laid Back]

Very interesting POST

Go Iraq

Go dinar

Go Strong 1.13:1

Thanks TBomb

[uttexan]

Things looking very promising indeed! Keep the good news coming!

[brokerkeith]

bammm   they know  if they float ,  and things do not work out  the dinar  could in fact  go from 1122  per dinar  too the dollar but 50,ooo   per dinar against the dollar ,  so the  central bank is  and  looking to install the  1 too 1  ratio  of  exchange  !            pretty much  tells  us    where they  want  too park the  value meter  in  dinar     -------  just waiting on the value of oil  to get back too the 50  dollar range      j.m.o.

 

I like your explanation & easyrider's summary, my head is still spinning from the read.

 

Thank You TBomb....Great Find!!  I love your dragon, can I get one too?

[gregp]

bammm   they know  if they float ,  and things do not work out  the dinar  could in fact  go from 1122  per dinar  too the dollar but 50,ooo   per dinar against the dollar ,  so the  central bank is  and  looking to install the  1 too 1  ratio  of  exchange  !            pretty much  tells  us    where they  want  too park the  value meter  in  dinar     -------  just waiting on the value of oil  to get back too the 50  dollar range      j.m.o.

That's exactly how I understood it jeep. Thanks Tbomb!

[Wiljor]

Good evening Tbomb, super find indeed. The fact that they are discussing this on a open form as apposed to behind closed doors really is huge. They have their reasons for keeping the rate low but now see the necessity to increase it. Although oil has plummeted recently and we all know that it, in the short term affects their budget, I am convinced it is perhaps not a major issue and shortly will correct itself. Attracting foreign investment and giving its own citizens more purchasing power will move the money flow which is what they desperately need. Investment means infrastructure, infrastructure means progress.

Simply amazing work you do here in DV and very much appreciated.

[Maggie123]

I LIKE THAT THIS IS BEING DISCUSSED - I LIKE THAT THEY OUTLINE WHAT WILL HAPPEN IF THE DINAR IS SIMPLY RELEASED WITHOUT ECONOMIC FACTORS SUPPORTING IT (PRIVATE SECTOR DEVELOPMENT, ETC) - HOW TAXES APPLY TO THE EXCHANGE RATE, SHABS' PLAN, THAT THE DINAR CANNOT SIMPLY BE ALLOWED TO FLOAT BECAUSE IT WON'T BE STABLE (AT LEAST BASED ON CURRENT CONDITIONS) - I ALSO LIKE THAT WE'RE NOT SEEING MENTION OF "NEED" FOR SPECIFIC LAWS. DOESN'T MEAN WE WON'T NEED THEM, CONCLUSIVELY, BUT WHY  NO MENTION IN THE ARTICLE IF THEY WEREN'T OF CRITICAL IMPORTANCE...THIS IS ALL JUST A DISCUSSION, BUT I LIKE IT IS BEING DISCUSSED.

 

I LIKE THAT THE ECONOMIST IS ADDRESSING A LOT OF INFO IN THIS IN ONE SOURCE/PLACE AND WE DON'T HAVE TO PIECE TOGETHER MANY ARTICLES TO GAIN PERSPECTIVE ON THIS ISSUE.

 

Thank You TBomb...Really Great Find!

 

So no float...and that makes sense now that he explained it the way he did. Looks like he was saying an independent exchange rate (not pegged to the dollar?) would be the most desirable? I dunno...just the way I read it.

 

BTW...I like that it isn't guru-poo-pooh

 

           

[sandfly]

GOOD POST THANKS

[Maggie123]

"2. When importing goods Pushing would be the dollar, if the dollar exchange rate has become or will become low, the amount of dinars paid dinar will double, instead of 1122 dinars to the dollar, could rise to 50,000 dinars to the dollar, and of course we will have inflation Falt Oanvjari will become people's lives expensive actually. 

3. What the central bank does not is still trying to maintain or at least install the dinar exchange rate to the dollar, to spare citizens distemper collapse of the purchasing power of the Iraqi money .. "

 

This is the part where I gathered that thought (independent rate)...Again...I dunno I could have read it all wrong.

[TBomb]

Good evening Tbomb, super find indeed. The fact that they are discussing this on a open form as apposed to behind closed doors really is huge. They have their reasons for keeping the rate low but now see the necessity to increase it. Although oil has plummeted recently and we all know that it, in the short term affects their budget, I am convinced it is perhaps not a major issue and shortly will correct itself. Attracting foreign investment and giving its own citizens more purchasing power will move the money flow which is what they desperately need. Investment means infrastructure, infrastructure means progress.

Simply amazing work you do here in DV and very much appreciated.

 

THANKS WILJOR, BUT I'M SURE OTHERS COULD BETTER EXPLAIN/EXPAND UPON THIS ARTICLE- ECONOMICS IS NOT MY STRONG SUIT, BUT I AM ABLE TO SOMETIMES FIND ARTICLE'S AND OTHER INFO LIKE THIS THAT WE'VE NOT SEEN MUCH OF.

 

YES, IT'S GOOD TO SEE THIS, MAGGIE - I WANT TO POINT OUT THAT THIS ARTICLE DOESN'T MENTION EITHER WAY, SPECIFICALLY, A 'FREE' NOR A 'MANAGED' FLOAT...ALL CURRENCIES, IN EFFECT, FLOAT HOWEVER. I WILL SAY THAT THE COMMENTS ELUDE TO THE FACT THAT THE DINAR IS NOT READY EITHER WAY - BUT LEANS MORE TOWARDS SAYING THAT IF IT WERE TO FREE FLOAT, THE ECONOMY COULD NOT NOW support THAT.

 

I'M QUITE SURE KAP WILL TWIST THIS (OR ANY OTHER SIMILAR ARTICLE) TO HIS PURPOSES.

Edited January 10, 2015 by TBomb

[TrinityeXchange]

"Shabibi was trying to preserve the purchasing power of the Iraqi currency, and that he was selling the dollar in auctions over the dinar was introduced and withdrawn from the market to strengthen its purchasing power against the dollar."

 

Had to add my 2c worth here.  The above quote is EXACTLY the reverse engineering of what the US did to keep the dinar from rising in value.  Recall that we sent over billions of usd on pallets and flooded their market with it because the iqd was rising in value too fast.  It essentially would have made it impossible to rebuild iraq while allowing them to keep their own currency.  So we 1) flooded their market with usd and 2) they also printed up more iqd and released it into the market to inflate their currency.  

 

To begin reversing the effect, I propose we would see two events happen.  1) the auctions where the iqd was retracted from the market and 2) a propaganda push and/or a currency revaluation where the iqd becomes just as valuable and preferred above the usd for marketplace transactions.  

 

We know from multiple articles that they have been continually sucking in dinar from the market.  The latest update said there were less than 4B notes in circulation.  It use to be over 9B in circulation.  So the plan is in full swing.  Don't go nowhere!

 

just my 2c

Edited January 10, 2015 by TrinityeXchange

[Maggie123]

 

 

YES, IT'S GOOD TO SEE THIS, MAGGIE - I WANT TO POINT OUT THAT THIS ARTICLE DOESN'T MENTION EITHER WAY, SPECIFICALLY, A 'FREE' NOR A 'MANAGED' FLOAT...ALL CURRENCIES, IN EFFECT, FLOAT HOWEVER. I WILL SAY THAT THE COMMENTS ELUDE TO THE FACT THAT THE DINAR IS NOT READY EITHER WAY - BUT LEANS MORE TOWARDS SAYING THAT IF IT WERE TO FREE FLOAT, THE ECONOMY COULD NOT NOW support THAT.

 

 

Lol...Derr Me...Thank you for your patience and that clarification TBomb.

 

"Not Pegged to the dollar" IS a float!!! LOL

 

Yes I read it that way too...that he was saying a float could go very wrong for them right now.

 

So here is to a new "pegged" rate!!!

 

 

 

Good Post Trinity...Thank You.

 

:

[TBomb]

YES, THANK YOU TRINITY.

I like your explanation & easyrider's summary, my head is still spinning from the read.

 

Thank You TBomb....Great Find!!  I love your dragon, can I get one too?

SURE - JUST TROLL GOOGLE IMAGES...THAT'S WHERE I GOT MINE

[Goggles]

All great information. Exciting to watch how this unfolds into RV.   

[SnowGlobe7]

I missed this while on vacation.....thanks for the bump

 

Great stuff here!!!

[TBomb]

1. •  

      

     Thanks T Bomb, Good read:

      

     heres a high lighted version

      

      

      

      

      

      

     Reply

     bassam 7

     Deployment of January 8, 2015 in 18:02

     Peace be upon you. 

     Doctor, but you think it's better now that the state is to float the dollar as this procedure could activate the industrial and agricultural sector. What is the benefit of maintaining a constant dollar price if this works to revitalize the local product import account. Do you think Dr. CBI is able to maintain the dollar's exchange with all of these economic risks price .. 

     Sincerely. 

     I answer to the above questions, and thank you.

     Reply Full dentex

     Deployment of January 8, 2015 in 22:40

     Dear outlined pink stones on the questions as follows: 

     1. If the float of the Iraqi dinar, Vstthalk its purchasing power and standard of living of ordinary people become rickety level due to high prices then, especially since domestic production is scarce. And it becomes a great dependence on imports. 

     2. When importing goods Pushing would be the dollar, if the dollar exchange rate has become or will become low, the amount of dinars paid dinar will double, instead of 1122 dinars to the dollar, could rise to 50,000 dinars to the dollar, and of course we will have inflation Falt Oanvjari will become people's lives expensive actually. 

     3. What the central bank does not is still trying to maintain or at least install the dinar exchange rate to the dollar, to spare citizens distemper collapse of the purchasing power of the Iraqi money .. 

     4. Valtauam requires that you have a production base that can compete with goods Almistorhn Vine is now in Iraq? 

     5. How activates the agricultural sector or the industrial and production costs, especially expensive imported materials Iraqi dinar? As the imported goods will be cheaper, and therefore the expansion of local production will be difficult. 

     6. Central Bank Bgdarh DZ Shabibi was trying to preserve the purchasing power of the Iraqi currency, and that he was selling the dollar in auctions over the dinar was introduced and withdrawn from the market to strengthen its purchasing power against the dollar. 

     flotation conditions are not now available in the Iraqi Aafqatsad. Thank you full dentex

     Reply

     bassam7

     Publication of January 9, 2015 at 12:54

     Thank you Doctor. 

     God, your words correctly. But I think he now fares do not Eogod fact to face the economic crisis and all that is happening is prosthesis solutions. For example, because the process of import cars are in abundance and it hurts especially the Iraqi economy and you know that Iraq imports more than 60% of the petroleum products from abroad, and that because of the ability of refiners Limited in Iraq. Means to float the dollar will be, but not the will of the central bank is now the price of oil to $ 50 cost of extraction in Iraq said high as $ 21 more and you can be sure of the number. The Central Bank can not maintain a fixed exchange rate under conditions so? Imposition of taxes does not solve the problem, but should stop importing specific commodity, for example, such as cars and the trend towards increased production of refining refineries. 

     should work now in order to save the Iraqi economy and this is Msalatkm Dear Dr. Tstieion through educating people first through economic seminars. 

     The International Energy Agency announced The United States will become the largest exporter of oil in 2017 by 13 million barrels as the oil shale production costs fell in the United States to $ 75 now. Moreover, the search for alternative oil Gary afoot energy. The European Union has now taken the decision that is run media shipping gas, produces a quarter of Britain's electricity from wind now. It's the product life cycle for oil, This is my opinion, and excuse me, I am an accountant and I'm not economist and you know me economy, I think it's high oil prices pushed the producer countries to look for alternatives. 

     We as Iraqis to think about the future of economic Iraq from now. 

     Thank you Doctor full dentex. 

     If you have any Notes please give me out.

     http://iraqieconomists.net/ar/2015/01/08/%D8%AF-%D9%83%D8%A7%D9%85%D9%84-%D8%A7%D9%84%D8%B9%D8%B6%D8%A7%D8%B6-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%A5%D8%AA%D8%AD/

      

     HERE'S SOME NEW COMMENTS ON THIS

 

1. • Reply

     Full of biting back

     Posted January 10, 2015 at 4: 41 pm

     Dear brother Bassam, thank you asking and not here the domain llastvdah balrden but outlined the following points are some of the above mentioned boiled:

     1 I agree with you that there is a weak government management at the negative factors, such as lack of predictability in the evolution of the price albrmia ونشؤ attack aldaash and poor design and others. However, the outcome was not successful in diversifying the economy through Government commended the nest year to reduce oil dependence, thus became the Iraqi economy depends for world trade conditions.

     2. Since the weak UN obtrusive domestic production domestic demand significantly, what the Iraqi currency float, because without local production to support it will collapse upon flotation, and become a life-income almhaddoh hell, the Central Bank was forced to support provides an outlet for local production growth and curbing inflation to protect the poor, pending the strengthening of domestic production and increased risk and to reduce the dominance of foreign trade, which will raise the protection of Iraqi dinar. It is not a static phase.

     Accept greetings

      

      

   • Reply

     Mustafa

     Posted January 10, 2015 at 8: 52 pm

     Brother Bassam's to answer you questions addressed to the Dr. and the answer is in my comment on another thread on this site

     Alternative energy: take it from a specialist. There is no alternative to oil until now or in the near future and God know..

     Alternative energy is a means to produce electricity from non-fossil fuel or nuclear represent only 15 percent of electricity production in the world, 14 of which are watershed and the rest are solar, wind etc.

     However, there is no relationship between the oil means it is not used in the production of electrical energy (5 percent of the world's electricity is produced from petroleum) and first use of petroleum as fuel for transportation (ships primarily followed by trucks) and also the production of polymers, there is an alternative only if there is a solar or wind-powered truck?! On the Rocky points, there was much talk about it now and the fact many oil production means and rock is not the first and not the last and important cost and no cost at less than the cost of world oil production, OPEC and especially in Iraq

     Concerning the import of oil derivatives don't have numbers, but increased production of refineries is not the solution but the deepening problem.. Iraqi refineries consume 600,000 barrels add an importer is. How much do you want for the refineries to produce more?? !! This oil is sold to refineries in some free and subsidized price is all taken from what Iraq can export and thus of government revenue and the budget. The solution is to support, but this is not possible now walmshkh are transport, but electricity production we are from States that produce electricity from petroleum and is considered an economic frenzy, even for $ 50 a barrel of ... And the simple solution is to adjust the distribution and collection of electricity fees and this will reduce consumption by half at least even with subsidized prices (by the Ministry of electricity prices, the House contains 4 conditioning paid half a million dinars a month wages for electricity) only then eliminates the need for private generators and diesel powered and lift subsidies on oil products fully or partially available, only the State and the citizen's need and the market in Iraq and the possibility of production and all this partial solution either kidney is producing electricity from natural gas importer Or local, depending on whichever is faster

     Brother Bassam said that talk a lot and I think it is well known by the Government not only now but since the budget was within the current ... I hope you get this Government succeed in reform of spoiled him forever and Allah Kareem

2. Reply

    

   bassam 7

   Posted January 11, 2015 at 10: 52 am

   Thank you for these plugins

   All Iraqi oil extraction rose too and need to study

   . Attorney Haytham told days before al-Jabouri, a member of the Finance Committee, saying that Iraq has signed contracts of partnership to the best of his decades of service. See Sumerian news. Oil Minister Adel Abdul Mahdi fact when hosting the Parliament should re-examine the licensing contracts. Cut pushed through to 2015 include benefits worth 12 billion dollars for oil companies. But if oil exports for previous years see it getting it up to 3,250 best.

   I think we need time to understand what happens

Edited January 13, 2015 by TBomb