HOPIUM FANS ONLY!!!

[Pitcher]

26 minutes ago, DinarThug said:

The guru have always said the supply of the dinar would dry up when the RV/rate change was near...

It's unclear whether the shortage we're seeing now is because of Iraq's change in policy or corona related.

People had no choice.  Since there was no toilet paper available during the CV lockdown they had to use what was available and worthless.  
 

Now everyone is buying more Dinar to replace the ones the had to use. They aren’t doing it to get rich, they are doing it just in case there is another CV lock down. 

[DinarThug]

2 hours ago, DinarThug said:

Clarification on foreign reserves in the Central Bank of Iraq

June 25, 2020

The real financial surplus is the government’s revenue that is represented by the Ministry of Finance, which exceeds its public expenditures during a fiscal year. If the Ministry of Finance achieves revenues (crude oil sales in general) with a value greater than its expenditures (investment spending and current spending), it will achieve a budget surplus. That the government invest it, either internally or externally in the form of sovereign funds or investment funds, etc., and vice versa if public revenues are less than expenditures and then achieve a real deficit that requires its financing, either by searching for additional revenues, enhancing existing revenues, or resorting to internal borrowing and / or Outer.

Here it is necessary to clarify that the foreign reserves held by the Central Bank are not surplus funds, but rather accumulate as a result of a specific mechanism in which the Central Bank conducts what is called the process of monetization, as the Ministry of Finance sells the largest part of its dollar revenues to the Central Bank with a view to obtaining the Iraqi dinar Issued by the Central Bank of Iraq to implement its domestic spending, and as long as the Central Bank of Iraq adopts a fixed price to exchange the Iraqi dinar against the US dollar, and it seeks through the window of selling the currency to maintain this constant value of the dinar, so the Iraqi dinar holder has a right to foreign reserves, which is a cover for the local currency .

We can refer here to the concept of foreign reserves according to the balance of payments guide and the international investment situation issued by the International Monetary Fund (are the external assets that are at the disposal of the monetary authority and are subject to its control to meet the needs of the balance of financing payments or interference in the exchange markets to influence the exchange rate of the currency, or other Related purposes (such as maintaining confidence in the local currency and forming a basis for external borrowing) and the reserve assets must be assets in foreign currency and assets that already exist, and excluding potential assets. The concept of reserve assets is based on the concepts of “control” and “accessibility” With regard to monetary authorities,
based on the definition of foreign reserves above, the following can be installed:

1. It provides a cover for the local currency and an instrument to support system" rel="">support the exchange rate.
2. It is the primary tool of the central bank to intervene and adjust imbalances of the balance of payments structure. 
3. It provides an important element in setting the country's creditworthiness, and enhances the country's credit rating in international transactions.

The optimal level of foreign reserves - that is, the minimum value of foreign reserves that the monetary authority must possess and that is calculated according to internationally approved standards - represents the ability of the monetary authority to defend the local currency exchange rate. The most important of these standards (the money supply standard, which represents the adequacy of foreign reserves to cover the supply of the local currency, and the trade standard, which represents the number of months in which foreign reserves can finance the country's imports of goods and services) and adopt these standards assuming a shock that affects the accumulation of foreign reserves almost Exactly.

With regard to managing foreign reserves, there are internationally accepted rules that depend on managing foreign reserves in terms of their liquid assets (securities, deposits, gold ...) and it envisions geographical distribution, currency diversification and other factors that reduce exposure to risks and provide returns that ensure sustainability These reserves.

It should be noted here that for internal borrowing by the government, whether funded by the Central Bank of Iraq directly any direct deduction of securities issued by the Ministry of Finance - which is prohibited by the Law of the Central Bank of Iraq - or indirectly by deduction in favor of local commercial banks, for both A negative impact on foreign reserves if we assume that the government’s priority is to finance that part of the expenditure represented by workers ’compensation, as this part is reflected in consumer spending, which is mainly met by imported goods and services, which in turn will generate a derivative demand for foreign currency and hence the exit of a portion Of foreign reserves to finance these imports, and this effect will continue until the date of maturity of the securities.

While external borrowing will positively reflect on the accumulation of foreign reserves, as long as the Ministry of Finance will monetize it for the purpose of obtaining the local currency, and handing the foreign currency to the central bank to be added to the foreign reserves.

link

 

Clarification on foreign reserves in the Central Bank of Iraq

June 25, 2020

 

The real financial surplus is the government’s revenue that is represented by the Ministry of Finance, which exceeds its public expenditures during a fiscal year. If the Ministry of Finance achieves revenues (crude oil sales in general) with a value greater than its expenditures (investment spending and current spending), it will achieve a budget surplus. That the government invest it, either internally or externally in the form of sovereign funds or investment funds, etc., and vice versa if public revenues are less than expenditures and then achieve a real deficit that requires its financing, either by searching for additional revenues, enhancing existing revenues, or resorting to internal borrowing and / or Outer.

Here it is necessary to clarify that the foreign reserves held by the Central Bank are not surplus funds, but rather accumulate as a result of a specific mechanism in which the Central Bank conducts what is called the process of monetization, as the Ministry of Finance sells the largest part of its dollar revenues to the Central Bank with a view to obtaining the Iraqi dinar Issued by the Central Bank of Iraq to implement its domestic spending, and as long as the Central Bank of Iraq adopts a fixed price to exchange the Iraqi dinar against the US dollar, and it seeks through the window of selling the currency to maintain this constant value of the dinar, so the Iraqi dinar holder has a right to foreign reserves, which is a cover for the local currency .

We can refer here to the concept of foreign reserves according to the balance of payments guide and the international investment situation issued by the International Monetary Fund (are the external assets that are at the disposal of the monetary authority and are subject to its control to meet the needs of the balance of financing payments or interference in the exchange markets to influence the exchange rate of the currency, or other Related purposes (such as maintaining confidence in the local currency and forming a basis for external borrowing) and the reserve assets must be assets in foreign currency and assets that already exist, and excluding potential assets. The concept of reserve assets is based on the concepts of “control” and “accessibility” With regard to monetary authorities,
based on the definition of foreign reserves above, the following can be installed:

1. It provides a cover for the local currency and an instrument to support the exchange rate.

2. It is the primary tool of the central bank to intervene and adjust imbalances of the balance of payments structure. 

3. It provides an important element in setting the country's creditworthiness, and enhances the country's credit rating in international transactions.

The optimal level of foreign reserves - that is, the minimum value of foreign reservesthat the monetary authority must possess and that is calculated according to internationally approved standards - represents the ability of the monetary authority to defend the local currency exchange rate. The most important of these standards (the money supply standard, which represents the adequacy of foreign reserves to cover the supply of the local currency, and the trade standard, which represents the number of months in which foreign reserves can finance the country's imports of goods and services) and adopt these standards assuming a shock that affects the accumulation of foreign reserves almost Exactly.

With regard to managing foreign reserves, there are internationally accepted rules that depend on managing foreign reserves in terms of their liquid assets (securities, deposits, gold ...) and it envisions geographical distribution, currency diversification and other factors that reduce exposure to risks and provide returns that ensure sustainability These reserves.

It should be noted here that for internal borrowing by the government, whether funded by the Central Bank of Iraq directly any direct deduction of securities issued by the Ministry of Finance - which is prohibited by the Law of the Central Bank of Iraq - or indirectly by deduction in favor of local commercial banks, for both A negative impact on foreign reserves if we assume that the government’s priority is to finance that part of the expenditure represented by workers ’compensation, as this part is reflected in consumer spending, which is mainly met by imported goods and services, which in turn will generate a derivative demand for foreign currency and hence the exit of a portion Of foreign reserves to finance these imports, and this effect will continue until the date of maturity of the securities.

While external borrowing will positively reflect on the accumulation of foreign reserves, as long as the Ministry of Finance will monetize it for the purpose of obtaining the local currency, and handing the foreign currency to the central bank to be added to the foreign reserves.

link

 

[DinarThug]

Comments By MilitiaMan On The Article Above ...

 

     

 

 

This is not talking about the program rate we are at now.
It is talking about the future imo.

It is talking about what will be done when the exchange rate is internationally accepted..

It will be a time for them to act accordingly and they give the examples on how they are going to do it.

They will have the ability to defend their new exchange rate as they have tools to or mechanisms to do so.

They will do it in their local currency, hence,

they'll need to defend the new rate with those tools.

They will also monetize their new currency, whereby, it derives an income to help with payments.. 

 

 

This article ought to be one we all smile about..

Because they are not doing this now at a program rate. imo..

They are gearing up to use the tools for a new exchange rate

and it appears they are ready to act on a moments notice.. imo..

This is timed accordingly..

The 60 day time frame the PM mentioned is not about this part of the reforms.

They told us about the border crossings

and adjustments in respect to shipping contracts, taxes, fees, tariffs, etc..

That is to be for 07/01/2020.

I have not seen or heard of them pushing the borders or adjustments out.

In fact it appears with all the articles out the mean to implement on time..

imo. jmtc  ~ MM

 

 - MilitiaMan

[DinarThug]

Wait - So The Auctions Are Back Down To Zero Again ?  

 

     

 

 

The results of the foreign currency sale window for
Thursday 25/6/2020, executed today

 

Announcement No. (4204)

Sale date -   Thursday 25/6/2520 and executed today

 

the details                               The amount

Total sale 
for purposes of 
enhancing balances abroad 
(transfers, credits).                     232,699,149

Total cash sale.                  0

Total sales.                              232,699,149

 

Note that:

 

The sale price of the sums transferred to the accounts of banks abroad ( 1190 ) dinars per dollar. Cash sale price ( 1190 ) dinars per dollar.

 

 

» The Central Bank of Iraq sales schedule for foreign currency (amounts in thousands of dollars) Thursday 25/6/2020, implemented today

 

 

Edited June 26, 2020 by DinarThug

[6ly410]

 

Edited June 27, 2020 by 6ly410

[6ly410]

 

[lmb4321]

Hopium Fans......Let's hope Mid-July......

Keep The Faith......

Thanks 6ly and DT for the news....keep em coming

👍....

[DinarThug]

35 minutes ago, lmb4321 said:

Hopium Fans......Let's hope Mid-July......

Keep The Faith......

Thanks 6ly and DT for the news....keep em coming

👍....

Wtf - Mid July ?

 

 

Didn’t U See My Article In Adam’s Chat About The Voting At The End Of This Month In 3 Days To Release The Budget In Time For The Start Of The 3rd Quarter On July 1st !  

 

 

And Btw - Who’s This Super Shady Sounding ‘6ly’ Character That U Mentioned ...

 

     

[DinarThug]

1 hour ago, lmb4321 said:

Thanks 6ly and DT for the news....keep em coming

👍....

Ok lmb - Here’s Two Articles With MilitiaMan’s Comments To Follow In The Next Post ...

 

 

Fyi - Be Sure To Keep Plenty Of Social Distancing From That Really Shady Sounding ‘6ly’ Character !

 

 

We Think That He Might Be A “Bro’vid-19” Super Spreader !  

 

     

 

 

Parliamentary Finance decision: Kurdistan has handed over its employee database to Baghdad .. This is their exact number

Policy 2020/06/27 21:31 381     

Baghdad Today - Baghdad 

The decision of the Finance Committee in Parliament, Ahmed Al-Saffar, confirmed today, Saturday, that the Kurdistan Regional Government has handed over its staff database to the Federal Government in Baghdad. 

Al-Saffar said in an interview with him (Baghdad today), "The technical delegation of the Kurdistan region who visited Baghdad recently handed over the federal government a database of the region's employees at the request of Baghdad in addition to other files."  
And that "the number of employees in the region is estimated at about 753 thousand employees registered within the biometric system in addition to the groups that benefit from social care, martyrs and retirees, the number reaches approximately one million and 250 thousand people." 

He pointed out that "the regional government is working, at the request of Baghdad, to solve the problem of multi-salaries in terms of social welfare, martyrs and retirees."
Yesterday, Osman Karim, the deputy in the Kurdistan Parliament, confirmed on Friday (26 June 2020) that negotiations between the federal government and the regional government are still ongoing and have not reached a dead end.

He added that "Baghdad has many conditions, some of which are inconsistent with the constitution, and this is what finally reached the signing of the comprehensive agreement, but the negotiations were not stopped or were officially announced."

LINK  

 

The delegation of Kurdistan holds talks with the American and British embassies in Baghdad

2020.06.25 - 14:57

 

Baghdad - people  

 

The negotiating delegation to the Kurdistan Regional Government, headed by Deputy Prime Minister Qubad Talabani, in Baghdad, on Thursday, held talks with the American and British embassies in Iraq.  

A statement of the provincial government, followed by "people" (25 June 2020), said that "the meeting highlighted the outstanding problems between Erbil and Baghdad, and the latest developments regarding the general situation in Iraq were discussed."  

The delegation of the two embassies said, according to the statement, "their full support for resolving all disputes between the Kurdistan Region and the federal government and facing all the problems that Iraq suffers from with a unified position, especially the risks of the renewed corona virus and the recent movements of ISIS terrorists in the disputed areas."  

The delegation of the regional government is scheduled to hold its last meeting this week with members of the federal government with the aim of reaching a general and common understanding of the outstanding problems between the two sides.

LINK

 

Edited June 28, 2020 by DinarThug

[DinarThug]

Comments On The Articles Above From MilitiaMan ....... 
 

 

And Not From That Sneaky Super Spreader ‘6ly’ Character ...

 

     

 

 

They handed over the database of the employees.
That would cease the multiple salaries and or payments.

This is a deal and it is now accountable from the looks of the signing.

They have their unified position and is all about transparency and accountability.

The fake made up employees are not going to fly anymore..

 

Well they surely wont be getting more than a fair share.

So, this article is on the last day of this week, which is today!! 

This looks to be the comprehensive deal that is done now and what we have been waiting for.. imo!

Love it! imo 

It is timed right before the adjustments to be made at the borders with taxes,

tariifs and fees that will be electronically monitored allocated accordingly..

Wow... The timing is imo HUGE!!

The HCL/2019 FMLA, salaries, etc, is in this ... Wow !! ~ MM 

- MilitiaMan

 

[ChuckFinley]

Thanks Thug. Independence Day may have a double meaning this year.    

[Jaygo]

31 minutes ago, ChuckFinley said:

Thanks Thug. Independence Day may have a double meaning this year.    

Damn you Chuck don’t get my hopes up!!!! Oh wait... Iraq... 😩

[ChuckFinley]

Jaygo, how are you doing man, it has been awhile. 

[Jaygo]

6 minutes ago, ChuckFinley said:

Jaygo, how are you doing man, it has been awhile. 

Oh you know.. living the dream! Trying to be more like Chuck! 😬

[ChuckFinley]

5 minutes ago, Jaygo said:

Oh you know.. living the dream! Trying to be more like Chuck! 😬

 

Living Ground Hogs Day. 

[Jaygo]

2 minutes ago, ChuckFinley said:

 

Living Ground Hogs Day. 

Yep... Didn’t we talked about the 4th of July the last 10 4th of July’s???? 😩

[gregp]

2 hours ago, ChuckFinley said:

Thanks Thug. Independence Day may have a double meaning this year.    

Hot dang!!

Just maybe, this year, I can afford to ride  my lawnmower to town and load up on fireworks!!!!

[Pitcher]

Hot diggidy dog.  I agree gregp.

 

[gregp]

Oh dang!

[ChuckFinley]

1 hour ago, Jaygo said:

Yep... Didn’t we talked about the 4th of July the last 10 4th of July’s???? 😩

 

It does seem like we have been talking about our Independence for years. 

[6ly410]

 

Edited June 28, 2020 by 6ly410

[Half Crazy Runner]

5 hours ago, ChuckFinley said:

Thanks Thug. Independence Day may have a double meaning this year.    

I tell ya, I’m in the mood to celebrate as if it already happened weather it does or not!! 
        

[ChuckFinley]

30 minutes ago, Half Crazy Runner said:

I tell ya, I’m in the mood to celebrate as if it already happened weather it does or not!! 
        

 

You go girl, I love your attitude.  

[6ly410]

#The Iraqi Central Bank issues an extensive clarification about # foreign reserves in the Central Bank of Iraq To view please visit the following link

 

[fioranosportscars]

where almost there ......!!!!