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Specialists warn of the repercussions of the devaluation of the dinar


yota691
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Specialists warn of the repercussions of the devaluation of the dinar

 
Baghdad / Hussein Thagab
 Mustafa Al Hashemi
At a time when reports have spoken that the government is considering reducing the value of the dinar against foreign currencies, as measures to confront the financial crisis caused by the decline in oil prices and the repercussions of (corona), a group of specialists in economic affairs confirmed that the reduction of the dinar price against the dollar is not based on objective grounds and cannot Its approval of the resulting damage to the Iraqi economy, the purchasing power of the citizenry, the strength of Iraqi bonds abroad and the country's credit rating.
The economist reported Dr. Fadel Muhammad Jawad said that "the central bank has a direct relationship to the issue, as it is the financial and monetary adviser to the government, and therefore cannot be excluded from the process."
He added that "the Iraqi-Jordanian Business Council (the owner of the proposal to reduce the value of the Iraqi dinar) - according to Jawad - will not be affected by the decline as it is affected by the citizen who lives inside Iraq, as he bears the results more than he who lives outside and deals in dollars and foreign currencies, not in the Iraqi dinar."
Jawad called "the central bank and Iraqi economists inside the country to clarify their opinion on this sensitive issue that concerns the country and the citizen."
For his part, the economic advisor to the Speaker of Parliament, Dr. Hammam Al-Shamaa, “The advocates of reducing the dinar’s exchange rate are not unaware of its inflationary effects, and the resulting social tensions will deepen the misallocation of income.” From selling foreign currencies when the exchange rate is lowered. "
"They promise the government to increase an additional 60 billion dinars, and a total of 18 trillion dinars annually if the proposal is implemented, but they have forgotten that the cost of establishing a robust and strong social protection network for five million Iraqis without the poverty line, compensating 73 percent of retirees whose monthly income is less than 500 thousand dinars, and compensation for a million and a half million employees whose monthly income is less than 500 thousand dinars, will generate huge numbers of those who receive support because of this procedure, and whose value may reach the value of the amounts deposited due to the reduction.
He noted that "the social protection network will be an ongoing case, as in the ration card program, which has been 32 years old, and nobody dares to cancel it until now."
Al-Shamaa stated that “the advocates of the reduction forgot the experience of printing and converting paper into a currency in the 1990s and how this printing weakened the purchasing power of the middle class, which turned into destitute had it not been for the adoption of the ration card program at the time”, pointing out that “reducing the dinar exchange rate is a process Quite similar to the printing of banknotes, in the end it means that the government wastes part of the purchasing power of people with fixed income and is ultimately an innovative way to deduct a portion of the employees ’salaries by 60 billion dinars per day, initially, as price relations soon create an upward inflation that falls on the poor.” .
Al-Shamaa felt that "the advocates of the reduction are the beneficiaries to promote their local products, whether agricultural or industrial, and this is legitimate and we call for administrative and customs measures to reduce competition from the local product and not by reducing the exchange rate of the dinar."
He pointed out that "the monetary policy drawn up and implemented by the central bank, whether in Iraq or in any country in the world is a policy independent of the will of the executive authority, without this implying the absence of coordination between the fiscal and monetary policies."
And that "the exchange policy and its system is one of the most important pillars of monetary policy, and therefore the statement that the central has nothing to do with the exchange system indicates the lack of awareness of economic facts, just as saying that money is government money is a fallacy because the government and the monetary authority and the legislative and judicial authority are the components of the state Whose cornerstone is the people. "
For his part, the economic researcher d. Ahmed Al-Husseini said, "It is not appropriate now to carry out a currency devaluation, especially since thinking about this measure coincides with the state of the global economic recession and the recession in the local economy."
He explained that "devaluation of the currency in order to finance the fiscal deficit in the budget will have unforeseeable economic effects, especially the rise in the general level of prices due to increased inflation," noting that "the economy currently cannot tolerate such effects, as well as the effects of economic dumping on the market With goods that may be of poor quality due to the lack of a customs deterrent that might prevent this from being achieved, stressing, "The devaluation should not be the first line of confrontation for the financial crisis caused by the drop in oil prices and the effects of (corona)."
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28 minutes ago, yota691 said:

He added that "the Iraqi-Jordanian Business Council (the owner of the proposal to reduce the value of the Iraqi dinar) - according to Jawad - will not be affected by the decline as it is affected by the citizen who lives inside Iraq, as he bears the results more than he who lives outside and deals in dollars and foreign currencies, not in the Iraqi dinar."

 

Thanks yota , I hope whoever is in charge of the IQD exchange rate never ever listens to the destructive proposals of

" Iraqi-Jordanian Business Council " .... we wait 

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It is iraq what do you expect?  I believe the RV will not happen, they have had so many chances to RV and well they haven't. They have had high oil prices and low oil prices. They still didn't RV.  So what are the gurus calling now. They called it will RV when the oil prices go up, well they did.  They called it will RV when it goes down,,,,,,, hmmm it went down..... no RV. Well now what, what are we going to be told now?  What do we need next ?  Come on tell me why hasn't it Rv'd.   Come on it's one thing or another,   yup one thing or another we need to RV, but it's also one thing or another that keeps us from RV'ing.  The only people getting rich on this investment are those selling the dinar and those selling to us on the hopes that it is going to RV. Wake up Wow we have all been on this ride for a long time, and nothing.   

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2 hours ago, Engine1 said:

It is iraq what do you expect?  I believe the RV will not happen, they have had so many chances to RV and well they haven't. They have had high oil prices and low oil prices. They still didn't RV.  So what are the gurus calling now. They called it will RV when the oil prices go up, well they did.  They called it will RV when it goes down,,,,,,, hmmm it went down..... no RV. Well now what, what are we going to be told now?  What do we need next ?  Come on tell me why hasn't it Rv'd.   Come on it's one thing or another,   yup one thing or another we need to RV, but it's also one thing or another that keeps us from RV'ing.  The only people getting rich on this investment are those selling the dinar and those selling to us on the hopes that it is going to RV. Wake up Wow we have all been on this ride for a long time, and nothing.   

I agree Engine1, But you still have the chance to get into VIP...... 😂😂😂
 

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Engine 1,  I can definitely see your frustration.  It has not RV'd because of the corrupt politicians stealing and their inability to get a long and trust each other since lying a thievery is socially acceptable there.  They are out of money for sure.  They need to RV to prove to the world that they are ready to stop the foolishness that is going on.  Then they will be helped financially to get back on their feet.  Not sure if this makes any sense. 

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7 hours ago, Engine1 said:

It is iraq what do you expect?  I believe the RV will not happen, they have had so many chances to RV and well they haven't. They have had high oil prices and low oil prices. They still didn't RV.  So what are the gurus calling now. They called it will RV when the oil prices go up, well they did.  They called it will RV when it goes down,,,,,,, hmmm it went down..... no RV. Well now what, what are we going to be told now?  What do we need next ?  Come on tell me why hasn't it Rv'd.   Come on it's one thing or another,   yup one thing or another we need to RV, but it's also one thing or another that keeps us from RV'ing.  The only people getting rich on this investment are those selling the dinar and those selling to us on the hopes that it is going to RV. Wake up Wow we have all been on this ride for a long time, and nothing.   

Engine1, you are such a sourpuss, lol.  You made your point the first time you posted your disbelief.  Why haven't you sold your dinar?  Treasury Vault is giving more than you probably paid.   If you truly believed what you said, you would be gone.

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Engine 1 , there was / is never a sure fire win purchasing iqd the sellers hyped it that way for sales like myself and probably about everyone knew the value before Saddam and up to the gulf war i get ur dissatisfaction who in their right mind hasnt been watching how its unfolded  its none of my business suggesting to anyone what to do or not to do but you can always sell down to a tolerable risk for you so as not to be quiet as consuming on oneself .... all the best   , waiting till im like Mr. drysdale and Jed clampett or burning it all in the fire pit 👍

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1 hour ago, Shedagal said:

Engine1, you are such a sourpuss, lol.  You made your point the first time you posted your disbelief.  Why haven't you sold your dinar?  Treasury Vault is giving more than you probably paid.   If you truly believed what you said, you would be gone.

I haven't sold because, to put it bluntly I dont need the money. But if this ever does RV I guess I cash out.  It's kind of like a insurance policy ( if it happens you are covered. And yes it did go up I paid around $630 per million. I am sitting on 2,142,000 dinar. It dont hurt to sit on it.  It wont help to cash it out right now. 

And everybody gets to voice their opinion I get to voice mine. 

 

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42 minutes ago, Engine1 said:

I haven't sold because, to put it bluntly I dont need the money. But if this ever does RV I guess I cash out.  It's kind of like a insurance policy ( if it happens you are covered. And yes it did go up I paid around $630 per million. I am sitting on 2,142,000 dinar. It dont hurt to sit on it.  It wont help to cash it out right now. 

And everybody gets to voice their opinion I get to voice 

Ok, you are right about getting to voice your opinion - until Adam moves you to the lopster tank.  If you don't need it, why are you so ticked?  Go enjoy your wealth.

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1 hour ago, Shedagal said:

Ok, you are right about getting to voice your opinion - until Adam moves you to the lopster tank.  If you don't need it, why are you so ticked?  Go enjoy your wealth.

Not ticked, hopefully I am keeping people grounded, because there seems to be a lot of ( its getting close ) and we know how they turn out since we have seen this many times. And why would he put me in the lopster tank. I am not doing anything wrong.  

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29 minutes ago, Engine1 said:

Not ticked, hopefully I am keeping people grounded, because there seems to be a lot of ( its getting close ) and we know how they turn out since we have seen this many times. And why would he put me in the lopster tank. I am not doing anything wrong.  

Our very own commander in chief just said we are getting close.  I appreciate that there has been hysteria in the past (reference the bros lol), but your posts are not indicating caution, but denial.  With the amount of dinar you have, your investment is under $1500.  Not enough to warrant the negativity, especially if, as you have stated, you don't need it.  

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What I always have appreciated about this site, is the fact that we all have been given the right to form our opinions. Regardless if we’ve been here years or more, we are all here for the same reasons, PROFIT. The moment you decide this investment is not for you, you can exit, and,  for the most part, break even.
Or, if you believe that this will one day make you a big profit, you can stay and wait it out. The risk reward ratio and comfort zone is different for each investor.  Sometimes our frustration when our investment ideas don’t pan out, can cause negative sentiment, and that’s ok as well.  If people wish to post hopium, by all means, as long as it’s not lies and bad intent. I have been here for many years now and I for one, have decided to wait this through, no matter what happens. It works with my long term plan, and, I welcome everyone’s opinion, even if it is slightly out of the constant. We have some amazing and well educated people here who provide updates and news daily, we also have some who want to deflate ones enthusiasm, I don’t pay attention to them, or respond, also my choice. 
One thing is for sure, if you are here in DV, you are here for the same reason as me, PROFIT!!!!!!!  Adam has created this site so we can openly discuss the Iraq Dinar arena,  and it’s potential future opportunities, the moment we begin to dive deeper into the emotions of whether it will or won’t pay off, it touches some folks nerves. In my experience, emotions in any investment for profit is a road to frustration and unhappiness. Staying positive and having faith in this thing is what is keeping me engaged, and for what I have invested for the potential return, works with my overall plan. 
Yes, things seem to be heating up once again and it seems we are, once again, close to the RV. Based on previous years, and, knowing this is Iraq, the chances of failure again is a good possibility, but what if?????? what if it does work out in our favor???? Well, I will cross that bridge when we get there. 
In the mean time, enjoy the journey and play nice. 
I wish you all, love, joy and happiness 🙏

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16 minutes ago, Wiljor said:

What I always have appreciated about this site, is the fact that we all have been given the right to form our opinions. Regardless if we’ve been here years or more, we are all here for the same reasons, PROFIT. The moment you decide this investment is not for you, you can exit, and,  for the most part, break even.
Or, if you believe that this will one day make you a big profit, you can stay and wait it out. The risk reward ratio and comfort zone is different for each investor.  Sometimes our frustration when our investment ideas don’t pan out, can cause negative sentiment, and that’s ok as well.  If people wish to post hopium, by all means, as long as it’s not lies and bad intent. I have been here for many years now and I for one, have decided to wait this through, no matter what happens. It works with my long term plan, and, I welcome everyone’s opinion, even if it is slightly out of the constant. We have some amazing and well educated people here who provide updates and news daily, we also have some who want to deflate ones enthusiasm, I don’t pay attention to them, or respond, also my choice. 
One thing is for sure, if you are here in DV, you are here for the same reason as me, PROFIT!!!!!!!  Adam has created this site so we can openly discuss the Iraq Dinar arena,  and it’s potential future opportunities, the moment we begin to dive deeper into the emotions of whether it will or won’t pay off, it touches some folks nerves. In my experience, emotions in any investment for profit is a road to frustration and unhappiness. Staying positive and having faith in this thing is what is keeping me engaged, and for what I have invested for the potential return, works with my overall plan. 
Yes, things seem to be heating up once again and it seems we are, once again, close to the RV. Based on previous years, and, knowing this is Iraq, the chances of failure again is a good possibility, but what if?????? what if it does work out in our favor???? Well, I will cross that bridge when we get there. 
In the mean time, enjoy the journey and play nice. 
I wish you all, love, joy and happiness 🙏

Amen.

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5 hours ago, Engine1 said:

I haven't sold because, to put it bluntly I dont need the money. But if this ever does RV I guess I cash out.  It's kind of like a insurance policy ( if it happens you are covered. And yes it did go up I paid around $630 per million. I am sitting on 2,142,000 dinar. It dont hurt to sit on it.  It wont help to cash it out right now. 

And everybody gets to voice their opinion I get to voice mine. 

 

You certainly have every right to voice your opinion.  But I have just one question for you.  

Who pissed in your engine?

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15 hours ago, Engine1 said:

It is iraq what do you expect?  I believe the RV will not happen, they have had so many chances to RV and well they haven't. They have had high oil prices and low oil prices. They still didn't RV.  So what are the gurus calling now. They called it will RV when the oil prices go up, well they did.  They called it will RV when it goes down,,,,,,, hmmm it went down..... no RV. Well now what, what are we going to be told now?  What do we need next ?  Come on tell me why hasn't it Rv'd.   Come on it's one thing or another,   yup one thing or another we need to RV, but it's also one thing or another that keeps us from RV'ing.  The only people getting rich on this investment are those selling the dinar and those selling to us on the hopes that it is going to RV. Wake up Wow we have all been on this ride for a long time, and nothing.   

Go sell your dinar then come back and say that. 

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On 7/1/2020 at 11:59 AM, Retiredofficer said:

Dame....just when I start to get my hope up.   Fat Lady might not ever get to sing.  Oh well...I hear there is a gold war going on. Might sign up!  

I have hope that she has at least stood up and have begun practicing her arias. 🙄😀

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