3 April 2018 Whitelions: Is it time to delete three zeros from the currency? The central bank submitted a project to delete three zeros of the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deteriorating security and political situation in the country.
The governor of the Central Bank, Ali al-Alaq, in a discussion session with the editors of a number of Iraqi media, including “Economy News”, “The subject of deleting zeros from the currency is ready, but it needs an environment suitable to apply,” noting that ” To prevent manipulation and fraud by the owners of weak souls. ”
In another news article stated that Iraq ranks 5th in the world with the most gold reserves.
Iraq can back most of it's currency with gold before & after RV.
20 July 2017 Enorrste...
We have an actual CBI spokesman claiming that their reserves are 3x the amount of cash inncirculation.
Their cash in circulation is IQD 57 Trillion or about $50 Billion.
Sounds to me like they may have 100% coverage of their currency
Which is good by any standard but how he comes uo with 3x, I don't understand.
From the throat of the goat...another extravaganza just for you.
18 July 2017 MntGoat...
So what did the CBI have to say?
CBI confirms the robustness of the Iraqi reserves according to international indicators reassuring.
CBI: Our control of the dollar price confirms our foreign independence.
CBI seek to balance between two goals.
Al Alak is trying to paint a rosy optimistic picture in the areas of the economy that it has been responcible for.
Reserves are up, revenue flowing, inflation under control & stabilizing the currency.
The bank seek to balance the sale of the dollar.
It is exactly what the IMF, WB, WTO & any other three letter organization needs to see happen.
Folks it is all coming together.