Is this true?

[zul]

21 hours ago, IQD=freedom said:

And between the importance of the Hilfi that "withdraw the cash cluttered in the homes and estimated at 80 percent of the total volume of Iraqi cash, and that the process of withdrawal in a content coincided with the physical temptations provided by banks to the depositor," pointing to "the need to withdraw monetary assets from citizens to the cells

 

This is the kind of news that Kaperoni seems to be missing.

 

He keeps looking at the huge amount of money in circulation. 

Those figures will always remain huge.

The question he should really be asking is where are those money? Are they still in circulations or not?

 

Somebody once said, those money should remain in circulation because you can't pull them out without causing major disruptions to the economy. Well....that statement is true BUT only IF dinar is the only currency they are using. And we know that's not the case.

Iraq has the luxury to pull their currency out of circulation without causing any major disruption to their economy.

 

In fact for years, CBI has been transferring the 'wealth' of the country (IQD) to USD (all Iraqis love dollar) and gold (yes, not many Central Banks do this), so overtime, instead of dinar circulating in the country, it is the dollar that rules.

 

Recent news on the localization of the salaries (e-payment) reduced the need of  physical dinar even more.

 

To complete the whole exercise of pulling dinar out of the street or mattresses, if u prefer them, they had a successful week long program on financial inclusion.

 

And now, this news is saying they have pull out 80% of the total volume of cash!! And you can bet,  most of them are the 3 zero notes, because the big chunk of cash in Iraq are these notes.

 

Now...Kap may ask ~ where are these money? The amount of money in circulations is still the same, according to CBI data.

Of course they are still the same. 

 

But most of those, if not all, are now sitting idle as bank reserves. No, not CBI reserves but commercial banks reserves.

 

All commercial banks have current account with central bank. They (the commercial banks) only hold minimum amount of cash as reserves, the rest are sent to the central bank.

Bank reserves are a commercial banks' holdings of deposits in accounts with a central bank.

 

Mebbe that's where Kap should be looking at, for a start. 

 

 

 

[Floridian]

23 hours ago, IQD=freedom said:

Iraq released today that they have recovered 80% of the cash stored in homes to now inside of the banks...if this helps

 

Not yet -

 

".....will become a very stable banking system, after the withdrawal of money accumulated from homes to banks. 

[Sandrider]

On 5/3/2018 at 5:12 PM, ChuckFinley said:

Thanks everyone for your comments. Was catching up and this was very informative. 

Yes thanks.  I was catching up too.

Edited May 6, 2018 by Sandrider
missed a word.

[ChuckFinley]

On 5/4/2018 at 3:13 PM, huffy2005 said:

Since 2005 when I bought my Dinars till today i think it won't be worthless. Not selling ..yet!

Right thee with you. Holding on until my death bed if necessary and then on to my kids. 

[mr.unlikely]

On 5/2/2018 at 6:00 PM, md11fr8dawg said:

I will say again, in Jan 1976 I was based in Korea. The exchange rate at that time was 500 Won per USD. And Korea was an emerging country and economy. Today, 42 years later they are far more advanced culturally and economically and their exchange rate is about 1100 to 1200 Won per USD. So I ask you, does Iraq really need to RV to prosper in the world? I will leave that answer to all of you. What say all of you??

I would say that they do because South Korea’s main stay is exports of goods using a labor force that works cheap. Devaluing the won makes them competitive. Iraq exports oil and imports nearly everything else so they need a strong currency to be able to afford the imports, much like Kuwait, Bahrain the UAE Saudi Arabia etc.

this is all just my opinion of course,  I could be wrong.

[blueskyline]

I have no well thought answer . But I do have a response . The Korean War they say cost the United States 30 Billion Dollars . Todays money is 341 Billion. The Iraq War . Just 2003 to 2011. Not including costs after these years . 1.06 Trillion Dollars . I'm not saying this is why they should rv . But I will say with this amount of money every tax paying American has  invested it should motivate them to do something ...

[dinarham]

Reminds me of the movie , "The mouse that Roared " ,but not as funny . What appears to be the common factor here  ? The US ,I would venture .  

[dinarham]

1 hour ago, blueskyline said:

I have no well thought answer . But I do have a response . The Korean War they say cost the United States 30 Billion Dollars . Todays money is 341 Billion. The Iraq War . Just 2003 to 2011. Not including costs after these years . 1.06 Trillion Dollars . I'm not saying this is why they should rv . But I will say with this amount of money every tax paying American has  invested it should motivate them to do something ...

      In what previous war has the US acquired such straight up gold plunder ?  Tons and tons of gold ,and this is not reflected in Fort Knox records that it was indeed deposited there . Hell ,we had four times more gold there in 1941. This gold  does not belong to the Fed . It belongs to us  USA citizens ,and Trumpster I believe has ultimate control of this gold .