vomer Posted May 3, 2016 Report Share Posted May 3, 2016 http://financialtribune.com/articles/economy-business-and-markets/40690/cbi-promote-currency-swap Monday, May 2, 2016 - 02:00 CBI to Promote Currency Swap Economy Business And Markets Lawmakers Sunday passed legislation that allows the central bank to sign currency swap agreements with Iran’s major commercial partners. The CBI has been tasked with promoting the usage of local currencies in coordination with ministries of foreign affairs, economy, energy, oil, and ministry of industries, mining and commerce, Alef news website reported. Law also requires the bank to provide Majlis with reports of its progress on the issue every six months. Iran has been trying to avoid dollar transactions since the imposition of economic sanctions a decade ago and gradually replace the US currency with the Chinese yuan, euro, Turkish lira, Russian ruble, and South Korean won. Legislators also allowed the CBI to continue printing and distributing ‘Iran Checks’, urging the regulator to adhere to the limits set by the Money and Credit Council. Iran Checks are financial instruments which the CBI is permitted to issue with the purpose of easing monetary affairs and preserve public interest and assets. Export Development Bank of Iran, Export Guarantee Fund of Iran and Iran Foreign Investment Company received exemption from paying tax on the profit they make when selling foreign currency. The Majlis also exempted banks and licensed foreign exchange operators from paying value added tax on their forex deals. Value-added tax in Iran is 9%. Short Url : http://financialtribune.com/articles/economy-business-and-markets/40690/cbi-promote-currency-swap 5 Quote Link to comment Share on other sites More sharing options...
gregp Posted May 3, 2016 Report Share Posted May 3, 2016 Quote Link to comment Share on other sites More sharing options...
Shedagal Posted May 3, 2016 Report Share Posted May 3, 2016 I would really like to think this means something good. Can someone give some clarification on this? 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted May 4, 2016 Report Share Posted May 4, 2016 Part of this IMO...SDR//Special Drawing Rights with currencies...Regional Reserves paying debt using one own currency of origin...and not in the US$$$..JMO Quote gradually replace the US currency with the Chinese yuan, euro, Turkish lira, Russian ruble, and South Korean won 5 Quote Link to comment Share on other sites More sharing options...
Shedagal Posted May 4, 2016 Report Share Posted May 4, 2016 Thanks, Yota 2 Quote Link to comment Share on other sites More sharing options...
Boozer Posted May 4, 2016 Report Share Posted May 4, 2016 so your taking away the USD, and replace it with currency worth ? 2 Quote Link to comment Share on other sites More sharing options...
gregp Posted May 4, 2016 Report Share Posted May 4, 2016 Rat dung..... 1 Quote Link to comment Share on other sites More sharing options...
jg1 Posted May 4, 2016 Report Share Posted May 4, 2016 This is their payoff to the Americans. Thanks a lot. This should devalue the dollar. Someone correct me if I'm wrong. Thank goodness we're not enemies with them. Quote Link to comment Share on other sites More sharing options...
jeepguy Posted May 4, 2016 Report Share Posted May 4, 2016 mmmm , look at who they are trading currency with ! { not iran so much , but that iran is needing dinars <-------- } so now iran is going to trade what ever dollar they have to cleans the country of the western bad cash and get ----> hard too find dinars , that are not worn out , and also using checks , but checks do not travel around , in street markets to well ... and can not be broken like change that is ... and a footer note, I do like they are including south Korean money , hahaha mine is starting too look like a crazy good buy after all .... now if only iran would need something in the range of say 5 trillion dinars and fast .... I think we could finally see the value points moving in the correct direction... for dinar that is happy hump day folksters 1 Quote Link to comment Share on other sites More sharing options...
hammer911 Posted May 4, 2016 Report Share Posted May 4, 2016 JMO, but I tink this is EXCELLENT news!!! 3 Quote Link to comment Share on other sites More sharing options...
vomer Posted May 4, 2016 Author Report Share Posted May 4, 2016 (edited) Devaluation of the US greenback is part of the global NWO conspiracy. I think that this is all this is about. Edited May 4, 2016 by vomer 1 Quote Link to comment Share on other sites More sharing options...
gregp Posted May 4, 2016 Report Share Posted May 4, 2016 I agree Hammer! Raise Iraq's currency, and devalue the dollar =more money!! 3 Quote Link to comment Share on other sites More sharing options...
Freedomwish Posted May 4, 2016 Report Share Posted May 4, 2016 Oh man.......this may become an all time year on a historical level once the basket of currencies starts to take their shape supposedly this fall... I don't know if I should be somewhat frightened or excited right now ....more whiskey indeed for me tonight 1 Quote Link to comment Share on other sites More sharing options...
ErichK Posted May 4, 2016 Report Share Posted May 4, 2016 Has anyone noticed how the Federal Reserve has reacted to the swap concept? Quote Link to comment Share on other sites More sharing options...
millionaire in training Posted May 5, 2016 Report Share Posted May 5, 2016 12 hours ago, hammer911 said: JMO, but I tink this is EXCELLENT news!!! 8 hours ago, gregp said: I agree Hammer! Raise Iraq's currency, and devalue the dollar =more money!! Man ......Can you imagine ? 1 Quote Link to comment Share on other sites More sharing options...
SocalDinar Posted May 5, 2016 Report Share Posted May 5, 2016 9 hours ago, vomer said: Devaluation of the US greenback is part of the global NWO conspiracy. I think that this is all this is about. Thanks Vomer, You sound like my father with this quote. The only difference is that was 40 years ago. LOL Novus ordo seclorum Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.