yota691 Posted September 17, 2015 Report Share Posted September 17, 2015 Economist: price rise in the value of the Iraqi dinar against the dollar is not in the interest of Iraq Economy and Tenders Since 09/17/2015 13:01 pm (Baghdad time) Special - scales News Said economist Abdul Hassan al-Shammari, Thursday, that the price rise in the value of the Iraqi dinar against the US dollar is not in the interests of Iraq's economy, demanding to be dinar 1,500 dinars to the dollar to pay employees' salaries. Al-Shammari said L / scales News / "The Iraqi dinar value is very strong compared to the US dollar and this is not in the interests of Iraq," stressing that "in the interest of Iraq to drop the price of the dinar so advanced and developed countries compete to lower its currency in order to export because whenever declining currency increase local exports to that country. " And he demanded that "the Iraqi dinar 1,500 dinars to the dollar to enable the advancement of Iraq again and pay the employees' salaries," stressing that "the low salaries of the three presidencies is not enough to cover the deficit in the Iraqi budget." The central bank sales recorded, on Wednesday, stable in the auction for the sale of foreign currency at $ 171 million, after yesterday sold at the same price. It ended 29 quarters e 1 Link to comment Share on other sites More sharing options...
EagleEye Posted September 17, 2015 Report Share Posted September 17, 2015 what the heck ?? smoke ??? 1 Link to comment Share on other sites More sharing options...
tlars brother Posted September 17, 2015 Report Share Posted September 17, 2015 not smoke, just wasted breath....stupid is , is stupid does 1 1 Link to comment Share on other sites More sharing options...
staunch Posted September 17, 2015 Report Share Posted September 17, 2015 Hence the 50k bill. Link to comment Share on other sites More sharing options...
captl1 Posted September 17, 2015 Report Share Posted September 17, 2015 This is an opinion...opinions are like ....... everyone has one. 1 Link to comment Share on other sites More sharing options...
calkid11 Posted September 17, 2015 Report Share Posted September 17, 2015 Thank you Yota Link to comment Share on other sites More sharing options...
jg1 Posted September 17, 2015 Report Share Posted September 17, 2015 This is an opinion...opinions are like ....... everyone has one. And it smells. 1 Link to comment Share on other sites More sharing options...
drj Posted September 17, 2015 Report Share Posted September 17, 2015 (edited) What this economist is saying is an economic fact, lower currency values are good for exports. You don't have to believe me, simply Google it. The difference that I see is that Iraq's major export is not "goods and services," it's oil. As we all know, Iraq is the #3 exporter of oil in the world link... https://www.cia.gov/library/publications/the-world-factbook/rankorder/2242rank.html YET all of the other countries around Iraq like Kuwait, UAE, Saudi Arabia, Qatar, and Jordan, ALL have currencies that are valued HIGHER! That's why I am still in this game. Edited September 17, 2015 by drj 16 Link to comment Share on other sites More sharing options...
TrinityeXchange Posted September 17, 2015 Report Share Posted September 17, 2015 What this economist is saying is an economic fact, lower currency values are good for exports. You don't have to believe me, simply Google it. The difference that I see is that Iraq's major export is not "goods and services," it's oil. BINGO! this economist is talking basic economics however they are not talking good economics "for the country of Iraq". iraq's primary export, oil, is inelastic. dropping or raising the value of the dinar will have little to no affect at all on oil exports. inflating the dinar or devaluing it in order to ease pressure on meeting salaries is not good for monetary stability that foreign investors demand. and one of iraq's main focuses is to entice foreign investors to the country. it would be a very inappropriate time to begin showing volatility in the financial structure. 'Inelastic' An economic term used to describe the situation in which the supply and demand for a good or service are unaffected when the price of that good or service changes. 3 Link to comment Share on other sites More sharing options...
vomer Posted September 17, 2015 Report Share Posted September 17, 2015 Their version of liberal democrats. 1 1 Link to comment Share on other sites More sharing options...
TQueezy Posted September 17, 2015 Report Share Posted September 17, 2015 What he's saying is true if your country exports loads and loads of cheap prices goods all over the world, like India and China do. That's why they keep their currency value artificially low to keep people doing business with them. But oil is a special commodity and in this case, Iraq has a lot of it and is a high level producer and exporter so in fact it would benefit them more to have their currency valued at whatever makes sense in terms of the rest of their economy besides the oil industry; which is mostly imports, so… Higher dinar value please? 6 Link to comment Share on other sites More sharing options...
Texstorm Posted September 17, 2015 Report Share Posted September 17, 2015 Everyone of these economists should have a triple PHD by now, I have never seen anything like these guys in my life. Their undecided, indecisive, agonizing, irresolute approach leads me to believe that they should not be allowed to reproduce. You can't run a business, without some sort of decision making thought process, I wonder how long it takes them to flush a toilet? 1 Link to comment Share on other sites More sharing options...
magawatt Posted September 17, 2015 Report Share Posted September 17, 2015 Looks they are slinging info stew at the wall to see if anything sticks. Hopefully something thing near .86:1.00 prevails! 2 Link to comment Share on other sites More sharing options...
drj Posted September 17, 2015 Report Share Posted September 17, 2015 BINGO! this economist is talking basic economics however they are not talking good economics "for the country of Iraq". iraq's primary export, oil, is inelastic. dropping or raising the value of the dinar will have little to no affect at all on oil exports. inflating the dinar or devaluing it in order to ease pressure on meeting salaries is not good for monetary stability that foreign investors demand. and one of iraq's main focuses is to entice foreign investors to the country. it would be a very inappropriate time to begin showing volatility in the financial structure. 'Inelastic' An economic term used to describe the situation in which the supply and demand for a good or service are unaffected when the price of that good or service changes. Spot-on TE, oil is an entirely different animal! Now, let's get the HCL passed! 5 Link to comment Share on other sites More sharing options...
gymrat76541 Posted September 17, 2015 Report Share Posted September 17, 2015 He's just an Economist - no one of importance! Just voicing an opinion! LOL Link to comment Share on other sites More sharing options...
unirod Posted September 18, 2015 Report Share Posted September 18, 2015 What this economist is saying is an economic fact, lower currency values are good for exports. You don't have to believe me, simply Google it. The difference that I see is that Iraq's major export is not "goods and services," it's oil. As we all know, Iraq is the #3 exporter of oil in the world link... https://www.cia.gov/library/publications/the-world-factbook/rankorder/2242rank.html YET all of the other countries around Iraq like Kuwait, UAE, Saudi Arabia, Qatar, and Jordan, ALL have currencies that are valued HIGHER! That's why I am still in this game. drj, sorry I hit the neg. I meant to +1 you. Can someone give drj a plus 1 for me? thanks 1 Link to comment Share on other sites More sharing options...
drj Posted September 18, 2015 Report Share Posted September 18, 2015 drj, sorry I hit the neg. I meant to +1 you. Can someone give drj a plus 1 for me? thanks No biggie, unirod. All good. 1 Link to comment Share on other sites More sharing options...
Carrello Posted September 18, 2015 Report Share Posted September 18, 2015 Their version of liberal democrats. Do you feel better, because you certainly don't sound smarter. 4 3 Link to comment Share on other sites More sharing options...
Boozer Posted September 18, 2015 Report Share Posted September 18, 2015 This is an old article I guess news is slow..... 1 Link to comment Share on other sites More sharing options...
vomer Posted September 18, 2015 Report Share Posted September 18, 2015 Do you feel better, because you certainly don't sound smarter. Why don't you go see if your Undocumented Messiah will give you an autographed selfie-stick. 3 Link to comment Share on other sites More sharing options...
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