Parliamentary Source: Al-Kazemi's government Will Print The Currency To Pay Employee Salaries !

[DinarThug]

LINK

A jump in oil prices

 

 

05/15/2020 09:37:27

 

Oil prices rose today, amid hopes that the production cuts implemented by oil producing countries and the partial lifting of quarantine restrictions will help achieve a balance between supply and demand in the global oil market.

 

Brent futures rose, at 09:15 Moscow time, by more than a dollar (3.41%) to 32.19 dollars a barrel.

The futures contract climbed US light crude by 2.47% to $ 28.24 a barrel, according to data site "Bloomberg".

[DinarThug]

LINK

Nassif: The state does not need the 4,300 general managers, agents and quotas, the basis for naming the heads of agencies

 

14th May, 2020

The lawmaker for the State of Law coalition, Alia Nassif, confirmed on Thursday that the state does not need 4300 general manager and agent, pointing out that quotas are the basis for naming the heads of agencies.

Nassif stressed, according to government media, that "one of the government's priorities is to reform the state’s administrative apparatus by placing the right man in the right place." And she stressed the necessity of "canceling the special grades that took place during the caretaker government period, and rechecking those who occupy them to ensure their consistency with their educational achievement."

She pointed to "the presence of sagging in the administrative apparatus of the state," stressing that "the nomination of most of the heads of agencies through quotas." She added that "the state does not need more than 4000 general managers and 300 agents," explaining that "the prime minister made an important step in the field of administrative reform, and that this step will be counted for him if he succeeds with this file."

[horsesoldier]

Off topic - Trump saying “ end of globalization due to pandemic “ - beg to differ, this is how you kick start it and put it directly into the “ fast lane “ IMHO 👋

[tigergorzow]

DV, Let's hope it is the issuance of LD's coming to our DV neighborhood.  New Currency with an increase of purchasing power for the Iraqi citizens.  Keeping hope alive...👍👍🙏🙏.

 

GO RV & RI

[ChuckFinley]

10 minutes ago, tigergorzow said:

DV, Let's hope it is the issuance of LD's coming to our DV neighborhood.  New Currency with an increase of purchasing power for the Iraqi citizens.  Keeping hope alive...👍👍🙏🙏.

 

GO RV & RI

  

[keylime]

Parliamentary source confirmed, Thursday, that the government of Prime Minister Mustafa Al-Krazemi will go to print a new local currency in order to pay the salaries of employees.

He pointed out that we, "after the application of this procedure, we expect a decrease in the Iraqi dinar exchange rate against the dollar," stressing that "this will have a positive impact on activating the industry in Iraq and not resorting to global or regional markets that provide goods to Iraq at low prices because of the high exchange rate The dinar compared to the price of currencies in Turkey, Iran and others. "

I believe this does indicate that this is some sort of new LOWER LD otherwise they can pay the "salaries of employees" with what is already out there, especially since they can just pay them electronically.

I also think the statement "decrease in the Iraqi dinar exchange rate against the dollar" coupled with "provide goods to Iraq at low prices because of the high exchange rate (of) the dinar" can be interpreted as the "decrease" referring to, as was stated by other members, the 1190 decreasing to whatever will give them greater purchasing power "against the dollar" which is actually an INCREASE of the value of the Dinar against the dollar. Thus, it would have a "positive impact" unlike now where "regional markets" have to sell Iraq goods at low prices because of the "HIGH Exchange Rate" of the Dinar. 

So the opposite of the "HIGH" exchange rate, is a "LOWER" exchange rate, or a decrease in the 1190 against the dollar to raise the value and purchasing power of the Dinar so that the Iraqis can purchase quality items at higher prices or value and no longer depend on global or regional markets selling them cheap crap at nothing prices. 

Lastly it "compares" its HIGH exchange rate to the Turkish Lire which is at 14 cents to the dollar "stressing" how printing this new currency will be a positive bringing it in line or even higher with the Turkish Lire vs the US Dollar. 

Why he mentions Iran I have no idea because the Rial doesn't compare to the Lire.

 

All of this may be wishful interpretation or right on the money(Dinar) so to speak.

 

But I honestly see this as HUGE!!!!

 

[Half Crazy Runner]

13 minutes ago, keylime said:

a decrease in the Iraqi dinar exchange rate against the dollar," 

I think what they are saying is, a decrease in the difference between the two rates. Otherwise they wouldn’t be stressing the “positive impact” this will have! Anyway, sure hope this is good news ... 

[jmartin1145]

3 hours ago, horsesoldier said:

Off topic - Trump saying “ end of globalization due to pandemic “ - beg to differ, this is how you kick start it and put it directly into the “ fast lane “ IMHO 👋

I would agree with you if we had the libs running the country. Not going to happen as long as Trump is in office.

[DinarThug]

37 minutes ago, keylime said:

"after the application of this procedure, we expect a decrease in the Iraqi dinar exchange rate against the dollar," stressing that "this will have a positive impact on activating the industry in Iraq and not resorting to global or regional markets that provide goods to Iraq at low prices because of the high exchange rate The dinar compared to the price of currencies in Turkey, Iran and others. "

 

 

     

 

 

LINK

Agency: Turkey is seeking to obtain external financing in anticipation of a currency crisis

 

 

14th May, 2020

 

A press report stated that the Turkish government is seeking urgent funding from foreign allies, in anticipation of another crisis in the local currency

This comes after the Turkish lira hit its lowest level last week after it exceeded the level recorded in the currency crisis in August 2018, which limited Ankara's ability to address concerns about its depleted foreign reserves and huge debt obligations

And revealed, "Reuters" Agency, three Turkish officials, which were not named, on Thursday, that treasury and central bank officials have held bilateral talks in recent days with their counterparts from Japan and Britain on the establishment of currency swap lines

The report added that Turkish officials also held talks with Qatar and China on increasing the size of the current facilities

The report pointed out that Turkey feels confident after the talks, but it is not clear how close it is to securing any agreements

By 8:20 pm GMT, the Turkish lira rose about 0.7 percent against the dollar, recording 6.9275 pounds

The Turkish lira has lost more than 17 percent of its value against the dollar since the beginning of this year, with the economic repercussions of the Coruna virus

[DinarThug]

 
 

LINK

Lebanon is preparing for fundamental structural changes in its economy

 

 

17:30 - 05/15/2020

 

 

The Lebanese government announced today, Friday, its serious intention to reduce the number of commercial banks from 49 to about half in the country.

This was stated by the Lebanese Finance Minister, Ghazi Wazni, during an interview with "France Press", where he said: "We are ready to meet the request of the International Monetary Fund to float the exchange rate of the lira, but after receiving external support, provided that in the next stage a price Flexible exchange."

My weight said: “The IMF has always called for the liberalization of the exchange rate of the lira. They want to unify exchange rates and flotation, but the Lebanese government requested a transitional phase that passes the flexible exchange rate before we reach the flotation. ”

My weight pointed out that "we have to adjust the stabilization policy to the flexible exchange rate policy in the first stage and in the foreseeable future, and when we receive financial support from abroad we move to floatation," declaring that "the government wants to reduce the number of commercial banks numbering about 49 to about Half, as part of a reform plan that includes restructuring the banking sector.”

He explained that "the structuring of the banks will be step by step and there are several options for treatment, including consolidation, which is normal," adding "in Lebanon 49 commercial banks, and it is natural for the number to decrease to about half in the next stage."

On Friday, the Central Bank of Lebanon announced that it had made a decision to provide the US dollar for imports at an exchange rate of 3,200 Lebanese pounds, with the aim of reducing food prices.

The Reuters news agency quoted the Central Bank of Lebanon statement, which stated: “The Bank of Lebanon will continue to pump the cash dollars it acquires through banks, in order to finance the import at a price of 3,200 Lebanese pounds to the US dollar, with the aim of reducing food prices.” 

[DinarThug]

LINK

An economist is surprised to continue wasting huge amounts of money through the currency auction, and no action has been taken yet !!

 

 

13th May, 2020

 

Today, Wednesday, economic expert, Majed Al-Suri, called on Prime Minister Mustafa Al-Kazemi to open the file of corruption and parasites on private banks to deal with the financial liquidity crisis.

Al-Suri told Al-Ikhbaria, "It cannot and does not make sense to continue wasting huge amounts of money by auctioning the currency in the central bank in conjunction with a severe economic crisis and the absence of a real money management strategy."

He called the new government headed by Al-Kazemi to "open the file of corruption and parasites on private banks in order to deal with the crisis of economic and financial liquidity."

Al-Suri pointed out that "previous governments had put many banks under the guardianship of their theft and corruption, but they did not hold them accountable legally enough to deter others."

It is noteworthy that Iraq, according to the accreditation of the rentier economy, which depends on selling oil and spending its money, made it an unenviable position, especially with the drop in oil prices in global markets.

[DinarThug]

An Iraqi money man disappears with him tens of millions of dollars in customer money .. and Dubai offices aim their losses on banking banks in Iraq

 

 

5/11/2020 4:28:30 PM  

 

 

 

Baghdad / Obelisk:

 

Adel al-Jabawi wrote .. Informed sources reported that the money man (a. I), known to be the owner of investments in the currency and banking auction, and runs it in the name of influential politicians, refuses to hand over the money of the remittances to their owners claiming that his money is held in the bank of Mosul and its owner (T).

One of the victims of A.T said that he requested a martyrdom from the bank in Mosul, not to pay the amount received by the transfer, but the bank refused this, on the pretext of a curfew, which caused an uproar by the customers with the Mosul Bank.

The sources revealed that the truth is not that, because the well-known auction dealer, (I) who collected millions of dollars in remittances, has disappeared, and he is considering fleeing out of the country.

The sources added that what encourages failure to meet the customers ’requests to exchange the remittances is the difficulty of going to the courts and the company’s centers.

Confirmed sources pointed to the depth of the financial crisis in Iraq, and the pursuit of capital owners and collectors of remittances to flee with people's money out of the country.

One of the dealers with these banks stressed that one of the hawala collectors in Karrada (M) fled with a sum of twenty million dinars to an unknown destination, stating that the financial position of the owner of a bank (i) refuses to hand over the dues of transfers to their owners.

The information revealed that the owner of a company and his name (EN) in Jordan closed the company and fled.

Sources considered that much of what is going on is due to the personality of (a. I) associated with interests and money relations with well-known political personalities, which has a wide influence on the activities of banks, remittances and auctions. Mali gradually turned into banks.

The sources pointed out that (I) now holds about 350 million dollars, and he is on his way to flee.

This matter is related to the subject of huge financial losses in Dubai and its impact on banking operations and banking transactions in Iraq. According to the sources, banking companies such as "H" and other companies in Dubai belonging to (a. I) are seeking to throw their losses in Dubai to the Iraqi interior.

Financial sources have warned of a major catastrophe that is causing the loss of money for the Baghdad money changers, calling on the Iraqi and Arab money-changers working in Baghdad to stop dealing with Dubai.

The sources revealed that the volume of Iraqi banking transactions in Dubai amounted to about one hundred million dollars, seventy of which are in an catastrophic situation unknown, and there is fear of losing it.

The sources emphasized that well-known companies such as "brother" and "mother" decided to download the balance first in the bank before making any distribution, noting that Dubai companies asked foreign and Iraqi companies not to send any transfers abroad except when absolutely necessary.

Businessmen criticized the central bank policy that requires people to deposit in banks in order to obtain a transfer, which made them hostage of those numbering banks, numbering about fifty, of which only thirty are now operating.

Dualism of money, power and law

The financial source revealed that private banks obtain large amounts of money, at a rate of five million dollars, in just two days each week, calling for direct arrangement with exchange companies, especially since there are about 3,000 offices inside Iraq that deal in dollars.

A trader warned against using banks to dealers, noting that in order to complete his commercial dealings with China, he must transfer more than 150 million dollars, and because it is difficult to enter him in the currency auction, he must buy it from the owners of the remittances associated with the banks.

He continued: There is no longer confidence in financial transactions, because your money will be held hostage by parties, who are not trusted to remain in the country, and it is possible that they will flee outside the country with the money in their possession at any moment.

LINK

[boosterbglee]

The elephant in the room..........fix it dummies!

[DinarThug]

1 hour ago, boosterbglee said:

The elephant in the room..........fix it dummies!

Ya - Fix It Like ‘Fixing’ A Dog !  

 

 

And They Can Start With Maliki ...

 

     

[DinarThug]

The history of Iraqi debt and its correlation with oil prices and imports

 

- 20 Hours Ago

 

 

Researcher Shatha Khalil *

 

The 1980-Iraq-Iran war transformed Iraq from a creditor country with more than $ 35 billion in foreign reserves into a debtor country with debts of $ 80 billion.
Iraq pursued a difficult policy during the Iraq-Iran war, while preserving spending in the public sector and embarking on national economic development, and this was funded through the country's foreign reserves and financial assistance by the Gulf Cooperation Council countries estimated at $ 5 billion. Where the destruction of export terminals caused a 60% drop in oil exports in 1981 and the subsequent decline in oil exports in 1982 that was accompanied by the closure of the Syrian oil pipeline depleted Iraq’s foreign reserves.

As a result, the Gulf Cooperation Council countries intervened to provide financial support and support oil sales for Iraq; But in the end, the Gulf Cooperation Council states demanded financial support and considered it a loan to Iraq, which amounted to $ 49 billion, while Iraq said it was aid in its war with Iran and not loans,due to the collapse of oil prices in the mid-eighties, the countries of the Gulf Cooperation Council are no longer able to Continue to support it; This made Iraq ask for support from international creditors such as the Western countries and the Soviet Union at the time, and the countries of the former Eastern Bloc, and private international creditors such as banks and bank debt.
These debts took the form of government loans and export credit guarantees, and those loans were distributed between the Paris Club, which amounted to 40 billion dollars, and the interest rate was 21 billion dollars, in 2003 and other debts from non-members of the Paris Club amounted to 16 billion, and debts from commercial sector banks / As a share of loans worth $ 15 billion, including interest rates in 2003, Iraq’s debts in 2003 amounted to about $ 120 billion distributed among three main groups:

The first is estimated at $ 40 billion for creditors from the Paris Club, as $ 21 billion was distributed in the form of original debt. $ 19 billion in interest due. It was reduced in 3 stages by 90% and amounted to $ 6 billion at the end of 2017. As for the second group, it is estimated at $ 60 billion for non-members creditors in the Paris Club, and great efforts have been made to pay part of this amount to the Gulf Cooperation Council countries, which amount to $ 49 billion. Great efforts have been made to make it similar to the debts of the Paris Club, but some things impeded these efforts provided that the national interest in Iraq is achieved. This is in addition to the bad relations that may have been between successive governments in Iraq with the GCC states, while the remaining debts were 16 billion with interest. For China, Turkey and the former communist European countries, the debt amounted to 41 billion dollars after China canceled its debt of 8.5 billion dollars in 2007, and the UAE canceled its debt from the 7 billion dollars in 2008. The debt value of the third group is estimated at 15 billion dollars, which is for commercial / private creditors (merchants, companies and banks). It has become known to the London Club coordination team and followed the same method used by the Paris Club. A large part of the debt has been restructured in the debt swap process through government bonds. An Iraqi as a $ 2.7 billion bond issued in 2006 and due in 2028 at an interest rate of 5.8%.

As for war reparations:
the United Nations Compensation Commission UNCC was established in 1991 to prepare the demands and pay compensation when necessary for the losses resulting from Iraqs invasion of Kuwait from 1990-1991 and submitted approximately 2.7 million requests for compensation worth $ 350 billion, but not all of these demands were accepted, as all It accepted about 1.5 million requests, or 56% of the total claims, which represents a compensation of $ 52 billion, or 15% of the amounts claimed.
Iraq has started to pay its debts to the United Nations Compensation Commission after the launch of the oil-for-food program, paying in 24 billion dollars in 2003, and in 2017 it paid a total of 48 billion dollars, and it is expected that Iraq will pay the last part of its 4.6 billion dollars debt . To the United Nations committee in the year 2019, although these compensation did not fall within the total outcome of Iraq's debts, but they affect the credit rating of the country as they represent essential obligations.

The fluctuation of international oil prices and their impact on the Iraqi budget:
The world oil prices witnessed fluctuation in prices, as a result of global crises or wars and political tensions in the Middle East, the sudden declines were often affecting the Iraqi budget, especially as they constitute more than 95% of them.
In 1973, after the oil embargo imposed by Saudi Arabia and the oil exporting countries, and the oil shock that caused it, it raised the price of crude from about $ 3.6 a barrel in 1973 to about $ 10 in 1974 and then $ 29 in 1979 with the revolution in Iran, then about $ 39 in 1981. One year after the outbreak of the first Gulf War (the Iran-Iraq war).

The first graph from 1980-1986 (the most important decline years)

 

 

The rises continue to be affected by the events raging, most notably the second Gulf War (the war to restore Kuwait) in 1991 to revolve between 1991 and 1997 around twenty dollars, then rise with the third Gulf War (the occupation of Iraq 2003) and then Hurricane Katrina in the Gulf of Mexico in 2005 until it reached the price per barrel in early in the year 2008 to about $ 147 a barrel, before falling again due to the global financial crisis.
Oil rose again with the Arab Spring revolutions and related events in the region between 2011 and 2014 until the price of a barrel exceeded $ 115 before it began the decline journey again from the end of 2014 and the beginnings of 2015 with corrective attempts from producers since the OPEC agreement and producers from outside it in November / November 2016, which began to be implemented in January 2017 with its various developments, until the agreement collapsed on Friday, 6 March, and then the major collapse in the price of oil.

The second graph from 2004 - 2016

 

 

Low oil prices and their effects on the Iraqi state budget and how to complete the sale operations:
Oil prices continued to fall sharply (20 April 2020), to less than a dollar per barrel (equal to 159 liters), which is a historical decline, with the actual depletion of oil demand due to the virus crisis Corona emerging a global glut in the supply and paralyzed air traffic and emerging industries almost stalled and billions of people around the world still need their homes to slow the spread of the virus.

The third chart is the price drop from 2019-2020

 

 

But here, if we talked in the natural situation about how to complete the operations of selling oil, says the Iraqi economist Basem Jamil Antoine that «oil sales are exported through the SOMO subsidiary to the Ministry of Oil, where the money derived from oil sales is transferred to the Ministry of Finance, which in turn By buying the Iraqi dinar from the central bank against the dollar in order to walk the salaries of employees and other operating costs that consume the greater part of the budget. Antoine adds that the central bank, in turn, sells the dollar to banking companies at a certain price so that the exchange rate of the dinar against the dollar remains balanced, but the problem is that the state spends more than 98% of oil sales without having repercussions on the citizens ’situation in terms of services and infrastructure because what percentage of them 70 percent operational costs, which is one of the largest portals of financial corruption.

To focus the volume of imports in Iraq and the amount that the central bank covers for these imports of transfers and credits and what other sources cover for these imports, to show us the volume of resources wasted for a sector that is supposed to fully cover the value of the import and supply the state treasury, and here we point to a very important point that the graph shows is how Funds are spent and the size of what the Iraqi Central Bank covers on the import side. This graph shows the volume of imports and the amount covered by the Central Bank.

Where the blue color represents the volume of imports 

Orange color coverage by the Central Bank of Iraq of those imports 

Light gray coverage from other sources 

 

Where the size of the coverage of the Central Bank of Iraq is very clear for the amount of coverage from other sources, and here the drawing indicates that there is a clear imbalance in the dependence on the Central Bank and the absence of planning and balance in the import operations and its size for the country.

Finally, and with all those difficult circumstances that have passed on the Iraqi economy and the management of its wealth, financial problems and dangerous challenges that are still increasing, and with the formation of the new government headed by Mustafa Al-Kazemi, this means that his government must face these risks to restore stability in Iraq and start a new page of work. The luxury and prosperity.

Economic Studies Unit

Links Center for Research and Strategic Studies

LINK

[DinarThug]

LINK

Deputy: The Iraqi economic system is built at the expense of the future of future generations

 

 

13th May, 2020

 

The race MP, Masoud Haider, believes that the Iraqi economic system is built at the expense of the future of future generations.

"The economic system that was built in Iraq is the system of satisfying people at the expense of their future and the future of future generations," Haider said in a tweet on Twitter.

He added that "the economic system will collapse if we do not start taking political and economic decisions (financial, administrative and legislative) that will lead to the rise of the Iraqi economy within a decade and on the pillars of production, production and production."

[DinarThug]

LINK

Victory Coalition: Al-Kazemi is able to establish a correct process that contributes to the introduction of new revenue for the budget

 

 

15th May, 2020

 

On Friday, the victory coalition affirmed the ability of the government of Prime Minister Mustafa Al-Kazemi to establish a "correct process" that would contribute to the introduction of new revenues for the budget.

The leader of the victory coalition, Aqeel al-Rudaini, told the official agency, "The biggest challenges facing the Al-Kazemi government are not only salaries, the economic situation and the Corona epidemic, but the biggest challenge is how to restore the state's prestige and win the people's trust, especially since 80% of citizens did not participate in the 2018 elections and this indicates On the existence of a hostile tendency between the political class and citizens."

He added that "the other challenge is the decline in oil prices and its impact on the economic situation," noting that "this crisis needs to develop alternative plans such as encouraging industry, agriculture, border ports and taxes, and this needs a long time, but it is possible for Al-Kazemi to establish a correct process. It is possible to introduce new revenues to the budget."

He continued, "The most important other challenge is to confine arms to the state, as there are a lot of weapons outside the scope of the state," stressing "the importance of working with two parallel lines and that there are external agreements to schedule the exit of US and Turkish forces in northern Iraq and this enables them to disarm." 

[Retiredofficer]

Pay the salary of the Fat Lady & I’ll join her on stage, and we’ll sing any dame song  the audience wants!

[Thief]

3 hours ago, keylime said:

Prime Minister Mustafa Al-Krazemi will go to print a new local currency in order to pay the salaries of employees.

 

They will pay the salaries with new local currency. 

 

3 hours ago, keylime said:

after the application of this procedure, we expect a decrease in the Iraqi dinar exchange rate against the dollar

 

Meaning...... An increase in exchange rate IQD vs USD. 

 

3 hours ago, keylime said:

this will have a positive impact on activating the industry in Iraq and not resorting to global or regional markets that provide goods to Iraq at low prices

 

Low prices (of imports) because the exchange rate of IQD would be higher

 

I totally agree keylime ~ they are printing LDs (and with that ~ new exchange rate). 

Hopefully soon........... As in real soon. 

 

Surely they don't need more dinars with current categories, simply because most of their currencies in the market are actually USD. 

For every 1 usd in the market, there are 1190 iqd in the banks. 

 

Edited May 15, 2020 by Thief
.

[MyLadiesDaddy]

5 hours ago, horsesoldier said:

Off topic - Trump saying “ end of globalization due to pandemic “ - beg to differ, this is how you kick start it and put it directly into the “ fast lane “ IMHO 👋

Just a Thought

 

https://dinarvets.com/forums/index.php?/topic/273621-conspiracy-theories-connecting-the-dots-etc/&do=findComment&comment=2113242

 

[DinarThug]

LINK

Asian Development Bank: Corona virus will cause global losses of up to $ 8.8 trillion

 

15th May, 2020

 

The Asian Development Bank said the global economic losses from the Corona Virus pandemic could range from 5.8 trillion to 8.8 trillion dollars this year, more than double its previous estimate at a time when containment measures have paralyzed economies
 
The prediction issued by the Asian Development Bank, which is equivalent to between 6.4% to 9.7% of global GDP, is worse than its estimates issued in April when he said that the global economy may suffer losses ranging between two trillion dollars and 4.1 trillion dollars, which is Depending on the length of time that containment measures will remain in effect
 
The bank said that the upper limit of the scope assumes that the restrictions imposed on movement and companies will continue for six months, while the lower limit assumes that it will continue for three months
 
After the health crisis caused the economy of China almost completely halted, as the virus appeared in December in the first quarter, several countries and regions reported a rise in injuries and deaths, leading to a widespread travel ban and orders to stay at home
 
The virus has killed nearly 300,000 people worldwide, while more than 4.3 million people have been infected
 
The bank said that measures to contain proliferation could cause economic losses ranging from 1.7 trillion to 2.6 trillion dollars in Asia, and between 1.1 trillion and 1.6 trillion dollars in China

The Asian Development Bank stated that travel restrictions and general isolation measures would likely reduce global trade by between 1.7 trillion and 2.6 trillion dollars, and would leave between 158 and 242 million people out of the workforce

[Laid Back]

3 hours ago, keylime said:

Parliamentary source confirmed, Thursday, that the government of Prime Minister Mustafa Al-Krazemi will go to print a new local currency in order to pay the salaries of employees.

He pointed out that we, "after the application of this procedure, we expect a decrease in the Iraqi dinar exchange rate against the dollar," stressing that "this will have a positive impact on activating the industry in Iraq and not resorting to global or regional markets that provide goods to Iraq at low prices because of the high exchange rate The dinar compared to the price of currencies in Turkey, Iran and others. "

I believe this does indicate that this is some sort of new LOWER LD otherwise they can pay the "salaries of employees" with what is already out there, especially since they can just pay them electronically.

I also think the statement "decrease in the Iraqi dinar exchange rate against the dollar" coupled with "provide goods to Iraq at low prices because of the high exchange rate (of) the dinar" can be interpreted as the "decrease" referring to, as was stated by other members, the 1190 decreasing to whatever will give them greater purchasing power "against the dollar" which is actually an INCREASE of the value of the Dinar against the dollar. Thus, it would have a "positive impact" unlike now where "regional markets" have to sell Iraq goods at low prices because of the "HIGH Exchange Rate" of the Dinar. 

So the opposite of the "HIGH" exchange rate, is a "LOWER" exchange rate, or a decrease in the 1190 against the dollar to raise the value and purchasing power of the Dinar so that the Iraqis can purchase quality items at higher prices or value and no longer depend on global or regional markets selling them cheap crap at nothing prices. 

Lastly it "compares" its HIGH exchange rate to the Turkish Lire which is at 14 cents to the dollar "stressing" how printing this new currency will be a positive bringing it in line or even higher with the Turkish Lire vs the US Dollar. 

Why he mentions Iran I have no idea because the Rial doesn't compare to the Lire.

 

All of this may be wishful interpretation or right on the money(Dinar) so to speak.

 

But I honestly see this as HUGE!!!!

 

Great comment Keylime,

I agree with you, we know the CBI has been reducing the amount of dinar in circulation for many years. I remember news articles talking about liquidity problems. When they refer to printing currency, they are talking about the new lower denomination notes with a higher exchange rate.

 

Go LD

Go RV

Go Purchasing power

 

 

 

[horsesoldier]

2 hours ago, DinarThug said:

 

 

     

 

 

LINK

Agency: Turkey is seeking to obtain external financing in anticipation of a currency crisis

 

 

14th May, 2020

 

A press report stated that the Turkish government is seeking urgent funding from foreign allies, in anticipation of another crisis in the local currency

This comes after the Turkish lira hit its lowest level last week after it exceeded the level recorded in the currency crisis in August 2018, which limited Ankara's ability to address concerns about its depleted foreign reserves and huge debt obligations

And revealed, "Reuters" Agency, three Turkish officials, which were not named, on Thursday, that treasury and central bank officials have held bilateral talks in recent days with their counterparts from Japan and Britain on the establishment of currency swap lines

The report added that Turkish officials also held talks with Qatar and China on increasing the size of the current facilities

The report pointed out that Turkey feels confident after the talks, but it is not clear how close it is to securing any agreements

By 8:20 pm GMT, the Turkish lira rose about 0.7 percent against the dollar, recording 6.9275 pounds

The Turkish lira has lost more than 17 percent of its value against the dollar since the beginning of this year, with the economic repercussions of the Coruna virus

 

 

. . . and ALL the Dressing and giblets that comes with that financing  

[keylime]

2 minutes ago, Laid Back said:

Great comment Keylime,

I agree with you, we know the CBI has been reducing the amount of dinar in circulation for many years. I remember news articles talking about liquidity problems. When they refer to printing currency, they are talking about the new lower denomination notes with a higher exchange rate.

 

Go LD

Go RV

Go Purchasing power

 

 

 

Amen! I concur sir!!!

[horsesoldier]

43 minutes ago, DinarThug said:

LINK

Deputy: The Iraqi economic system is built at the expense of the future of future generations

 

 

13th May, 2020

 

The race MP, Masoud Haider, believes that the Iraqi economic system is built at the expense of the future of future generations.

"The economic system that was built in Iraq is the system of satisfying people at the expense of their future and the future of future generations," Haider said in a tweet on Twitter.

He added that "the economic system will collapse if we do not start taking political and economic decisions (financial, administrative and legislative) that will lead to the rise of the Iraqi economy within a decade and on the pillars of production, production and production."

 

Someday these crooks are gonna pay for this. One by one they'll be gotten to and knocked down like Bowling Pins. Well, that is if they can be gotten to before they they skin out to Iran or elsewhere around the world. Even then there just might be a group of  " certain somebodies " willing to go the distance to track those MoFo's down, ANYWHERE in the world.