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Parliamentary finance identifies a reason why coins should not be minted and advises such a move


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Greetings to all.

So does a lop provide purchasing power for a currency?  One way to think about purchasing power is to imagine if you made the same salary as your grandfather 40 years ago. Today you would need a much greater salary just to maintain the same quality of living.  Example: a home buyer looking for homes 10 years ago in the $300,000 to $350,000 price range had more options to consider than now.

 

In terms of investment,  PURCHASING POWER is the dollar amount of credit available to a person to buy or in this case a country.  So if a dinar is worth under a cent in value and it lops to 1.19 per each dinar after removing the zero's on the notes and it this were to occur....how much Purchasing power would Iraq have then aside from the oil value it has in it?   I can't see it going into a neutral level upon any stage of a LOP, unless they just completely devalue their own currency which I doubt very highly any country would do, or person for that fact.  That's like saying you have a gold piece worth 1600.00 and decide to sell it for 400.00....I just don't see a 100% devalue of currency ahead in their future.  

 

Good fortunes to all.

Le Plus Grand'

Edited by leplusgrand
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On March 30, 2019 at 8:01 PM, 10 YEARS LATER said:

Rothschilds owns & controls Iraqi CBI . . . The IMF is in the Rothschids back pocket . . . when they decide, not until then will there be an RI/RV.

 

coming soon . . .

 

Some folks can't handle the truth 10YL . . . got your back cuz ya got a drive by Ruby ! :lol:

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2 hours ago, 10 YEARS LATER said:

 

Some folks can't handle the truth 10YL . . . got your back cuz ya got a drive by Ruby ! :lol:

10 years later,

 

soon you will will need to update your username. I’m 15 years later as of right now.. lol

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On 3/31/2019 at 2:01 PM, 10 YEARS LATER said:

Rothschilds owns & controls Iraqi CBI . . . The IMF is in the Rothschids back pocket . . . when they decide, not until then will there be an RI/RV.

 

coming soon . . .

If they own it you won’t see a dime...they do not want millionaires and billionaires walking around it’s not their plan and never has been

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2 hours ago, screwball said:

If they own it you won’t see a dime...they do not want millionaires and billionaires walking around it’s not their plan and never has been

 

The vast majority of dinar holders don’t have any where nearly enough to make them billionaires (assuming it goes 1:1). I don’t think they’d be concerned about people suddenly having a few million $, that kind of money isn’t what it used to be. 

Just my opinion tho ...  :shrug:

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15 hours ago, Half Crazy Runner said:

 

The vast majority of dinar holders don’t have any where nearly enough to make them billionaires (assuming it goes 1:1). I don’t think they’d be concerned about people suddenly having a few million $, that kind of money isn’t what it used to be. 

Just my opinion tho ...  :shrug:

True

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  • 4 weeks later...

/www.radionawa.com/all-detail.aspx?jimare=12457&fbclid=IwAR1zvA3AVOPtbq2a_Zx5HRqDnFX5PsgDRXZkCeKH31MGjyCh_2qhXhMwoUk.....

 

 

Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation

1 day before Iraq
62952019_5.jpg
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Ihsan al-Yasiri, director general of the Central Bank, said on Wednesday, May 29, 2019, that "the bank is a very transparent institutions both in the window of selling the currency or the subject of contracts," noting that "the Central Bank is in constant contact with the relevant parliamentary committees and the Central Bank is the only institution that Work every day. "

"The central bank's duty is to maintain the exchange rate and stability to meet the demand that comes on foreign currency against the dinar," he said in an interview with the Noa Dialogue program. "The central bank is responsible for the simple sale of the dollar."

"The Iraqi economy is an import economy and this is not the responsibility of the central bank. It is the duty of the state and the government to fix this structural imbalance and the domestic economy becomes a product for leaving imports," he said.

He pointed out that "there is a defect in the duty of some institutions, but ordinary people believe that this process should be carried out by the Central Bank, and this is not true," explaining that "the central bank contact with banks and the government by keeping accounts."

"The major sin that was committed in 2004 was the abolition of import controls and quality control rules at the border crossings, which made the market full of cheap and cheap imported goods," he said.

In the case of the accident of seven billion in the Rafidain Bank, said Yasiri, "The year 2013 saw heavy rain and leaked water to the bank on the street Rashid, which led to damage that money, which was originally intended to damage, and the duty of the Central Bank to replace those papers, The amount of money less than 200 million dinars. "

On the subject of the deletion of zeros, he said that "this administrative process aimed at tightening the banknotes and improve the accounting record in the country was launched in 2012, but there are some objections at the time and need legislation by the House of Representatives."

"The Central Bank has suspicions, the first is to prevent one of the internationally recognized companies from conducting an audit and conduct internal control of the bank in exchange for the placement of Iraqi offices, as these companies are global and stamped recognized worldwide and indicates the lack of money laundering "He said.

"The second thing is that controls the joints of the central bank, usually they are accountants and they basically have offices."

She said that "the independence of the Central Bank and not to the executive power made the government of Nuri al-Maliki dismiss Sinan Shabibi because of his refusal to enter the prime minister to manipulate the reserves of the Central Bank as it represents the stability of the currency and represents the monetary policy in the country and parliament only those who can account and today Parliament is unable to do so.

She stressed that "the status of the head of the Financial Control Bureau governor of the Central Bank is a violation of the constitutional authorities as the regulatory body has become the executive branch."

"The Finance Committee formed three subcommittees to follow up the work of the Central Bank of the first follow-up the issue of building the Central Bank and the second follow the auction of currency and the third follow the issue of the subsidiary currency and therefore if there is evidence will be submitted to the Integrity Commission or the judiciary."

He added that "the issue of scrutiny within the Central Bank can be resolved through the House of Representatives and not raise the issue is due to audits by local companies and anyone who has an interest in this issue must submit to the Finance Committee."...............please remove if already posted .thanks

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Great article Blueskyline. It's been posted for three hours and crickets from the DVCommunity. This is a great article that pretty much spells out what went wrong and what needs to be completed. It's parliament that holds the keys to the kingdom. They will be the ones who allow the central bank to raise the exchange rate. Not Trump or Rayrat or anybody who lives in Reno. 

I just wish they would get on with it already. Been at my new job two days and I'm tied of it already, lol. At least it pays well.

BSL keep bringing it and have a good evening.

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“On the subject of the deletion of zeros, he said that "this administrative process aimed at tightening the banknotes and improve the accounting record in the country was launched in 2012, but there are some objections at the time and need legislation by the House of Representatives."

 

What about FML.?

 

 

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  • yota691 changed the title to Central Bank: The deletion of zeros aims to tighten banknotes and needs parliamentary legislation
47 minutes ago, Laid Back said:

“On the subject of the deletion of zeros, he said that "this administrative process aimed at tightening the banknotes and improve the accounting record in the country was launched in 2012, but there are some objections at the time and need legislation by the House of Representatives."

 

What about FML.?

 

 

Laid back there is a good chance you're right. The FML is what drives the exchange rate and monetary regime. That has been legislated, or so we've been told, and now we're waiting  on something else. What that might Be is anyone's guess. Let's wait and see what happens cause, well, I mean, It's like, you know?

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8 hours ago, Laid Back said:

“On the subject of the deletion of zeros, he said that "this administrative process aimed at tightening the banknotes and improve the accounting record in the country was launched in 2012, but there are some objections at the time and need legislation by the House of Representatives."

 

What about FML.?

 

 

1st reading so has it passed?

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7 hours ago, mr.unlikely said:

Laid back there is a good chance you're right. The FML is what drives the exchange rate and monetary regime. That has been legislated, or so we've been told, and now we're waiting  on something else. What that might Be is anyone's guess. Let's wait and see what happens cause, well, I mean, It's like, you know?

Fml yes stops the auction imho 

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7 hours ago, mr.unlikely said:

Laid back there is a good chance you're right. The FML is what drives the exchange rate and monetary regime. That has been legislated, or so we've been told, and now we're waiting  on something else. What that might Be is anyone's guess. Let's wait and see what happens cause, well, I mean, It's like, you know?

Yep it’s iraq...,

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13 hours ago, mr.unlikely said:

Laid back there is a good chance you're right. The FML is what drives the exchange rate and monetary regime. That has been legislated, or so we've been told, and now we're waiting  on something else. What that might Be is anyone's guess. Let's wait and see what happens cause, well, I mean, It's like, you know?

Agree my friend,  Let’s wait and see.

Very exciting and interesting times 

Go RV sooner than later 

Go $1:1

6 hours ago, screwball said:

1st reading so has it passed?

The FML is done  

Thanks for your input my friend.

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  • yota691 changed the title to Parliamentary finance identifies a reason why coins should not be minted and advises such a move
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