A Road Map For Solving The Financial Crisis !

[DinarThug]

ladyGrace'sDaddy

• Senior Member
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• Platinum VIP

1 hour ago, Rafiki1 said:

It’s spelled semantics.

 

Ya - But He Also Sometimes Spells It SemantiClaus !  

 

 

And Be Careful About Trying To Correct Him - U Don’t Wanna Get Kicked Off Of The Nice List And Onto The Permanently Naughty One...

 

Ho Ho Ho No ...

 

     

[DinarThug]

On 7/18/2020 at 12:46 PM, DinarThug said:

so the authorities responsible for administration have no choice but to change the Iraqi dinar exchange rate, which is one of the foundations of the economy’s problems

 

23 hours ago, screwball said:

Yep says it all

Then Somebody Light The Fuse And Get This Show Started !  
 

 

     

[DinarThug]

22 hours ago, DinarThug said:

The new cash version

Saturday 18 July 2020

Dr.. In the name of Brahimi
 

 

Some have recently circulated a proposal to print the new currency or monetary issue, as it is called, in terms of possible solutions to address the financial crisis the government is going through as a result of the Corona pandemic, so can this proposal be implemented? What are the possible consequences if applied? .

In order to clarify the merits of the matter, we point out that the government, through the Ministry of Finance, has two main accounts (in addition to other accounts), the first in dollars in which its external revenues (from oil) are deposited, which constitute up to (95 percent), and the second in dinars, in which its local revenues are deposited (from taxes and fees And other returns) which are within (5 percent).

Thus, when the government wants to pay internal dues, it requests the central bank to transfer from its balance in dollars to its account in dinars, meaning that it buys the dinar from the central bank. The question is what if the financial balance is not sufficient to meet its requirements?

Before the issuance of the Central Bank Law No. 56 of 2004, one of the main solutions was to borrow directly from the Central Bank (overdraft) without the latter having the right to object, but after the issuance of the aforementioned law, this mechanism stopped, and the reason is that the law has prevented The central bank is able to provide direct debt to the government while allowing it to provide indirect debt by re-deducting government bonds in the secondary market, i.e. buying them from banks and not from the government, 

And that is within the framework of the independence granted by this law to the monetary authority, which aims to define the government borrowing process and not to use the latter this policy for political purposes and the issuance of more currency and consequently lower its value as a result of inflation resulting from the increase in issuance, meaning that the law was aimed mainly To prevent the improper use of religion.

Accordingly, the new monetary issuance process cannot be implemented before amending the law first, but if this is done, Iraq will lose one of the important achievements after the year 2003 which is the independence of the central bank, and this has a negative impact on the confidence of international institutions and organizations, and its consequences On the credit rating of Iraq, as well as dealing with those institutions and the ability to obtain financial and technical support system" rel="">support, as this measure has negative consequences for the process of attracting foreign capital that we aspire to.

Away from all of that, the results that the cash issuance process can achieve do not differ from the indirect lending process initiated by the Central Bank a few days ago by re-deducting government bonds worth eight trillion dinars, but this process remains subject to the approval of the monetary authority and its appreciation of the actual need The size of the crisis and the need for government spending, which calls on us not to compromise the independence of the Central Bank, which is an important economic safety valve and the need to use specialists to deal with the crisis.

LINK

 

The new cash version

Saturday 18 July 2020

Dr.. In the name of Brahimi
 

 

Some have recently circulated a proposal to print the new currency or monetary issue, as it is called, in terms of possible solutions to address the financial crisis the government is going through as a result of the Corona pandemic, so can this proposal be implemented? What are the possible consequences if applied? .

In order to clarify the merits of the matter, we point out that the government, through the Ministry of Finance, has two main accounts (in addition to other accounts), the first in dollars in which its external revenues (from oil) are deposited, which constitute up to (95 percent), and the second in dinars, in which its local revenues are deposited (from taxes and fees And other returns) which are within (5 percent).

Thus, when the government wants to pay internal dues, it requests the central bank to transfer from its balance in dollars to its account in dinars, meaning that it buys the dinar from the central bank. The question is what if the financial balance is not sufficient to meet its requirements?

Before the issuance of the Central Bank Law No. 56 of 2004, one of the main solutions was to borrow directly from the Central Bank (overdraft) without the latter having the right to object, but after the issuance of the aforementioned law, this mechanism stopped, and the reason is that the law has prevented The central bank is able to provide direct debt to the government while allowing it to provide indirect debt by re-deducting government bonds in the secondary market, i.e. buying them from banks and not from the government, 

And that is within the framework of the independence granted by this law to the monetary authority, which aims to define the government borrowing process and not to use the latter this policy for political purposes and the issuance of more currency and consequently lower its value as a result of inflation resulting from the increase in issuance, meaning that the law was aimed mainly To prevent the improper use of religion.

Accordingly, the new monetary issuance process cannot be implemented before amending the law first, but if this is done, Iraq will lose one of the important achievements after the year 2003 which is the independence of the central bank, and this has a negative impact on the confidence of international institutions and organizations, and its consequences On the credit rating of Iraq, as well as dealing with those institutions and the ability to obtain financial and technical support system" rel="">support, as this measure has negative consequences for the process of attracting foreign capital that we aspire to.

Away from all of that, the results that the cash issuance process can achieve do not differ from the indirect lending process initiated by the Central Bank a few days ago by re-deducting government bonds worth eight trillion dinars, but this process remains subject to the approval of the monetary authority and its appreciation of the actual need The size of the crisis and the need for government spending, which calls on us not to compromise the independence of the Central Bank, which is an important economic safety valve and the need to use specialists to deal with the crisis.

LINK
 

19 hours ago, screwball said:

The fact remains they need cash into the banks and the only way to get it to the banks is at 1:1

They Could Certainly Get Me To The Bank For Less Than That - But 1:1 Might Even Get The Iraqi’s Moving !  

 

 

     

[DinarThug]

LINK

Banking sector supports the Iraqi Stock Exchange index to rise 1.53%

 

19th July, 2020

 

The gains achieved by the banking sector today, Sunday, increased the Iraqi Stock Exchange index to close up by 1.53% in the first sessions of this week

The exchange traded today shares of 26 companies, including 14 companies belonging to the banking sector, and traded shares reached 273.1 million shares, worth 634 million dinars

Asiacell’s stock witnessed volatility in the recent period, as it closed today with losses of 5.7%, despite the General Assembly’s decision to distribute 100% of the company’s capital

While the banking sector shares prevailed to make profits during today's session, as the shares of Baghdad shares reached 9.7%, Assyria 8.7% and Gulf 7.6%

[jmartin1145]

22 minutes ago, DinarThug said:

 

The new cash version

Saturday 18 July 2020

Dr.. In the name of Brahimi
 

 

Some have recently circulated a proposal to print the new currency or monetary issue, as it is called, in terms of possible solutions to address the financial crisis the government is going through as a result of the Corona pandemic, so can this proposal be implemented? What are the possible consequences if applied? .

In order to clarify the merits of the matter, we point out that the government, through the Ministry of Finance, has two main accounts (in addition to other accounts), the first in dollars in which its external revenues (from oil) are deposited, which constitute up to (95 percent), and the second in dinars, in which its local revenues are deposited (from taxes and fees And other returns) which are within (5 percent).

Thus, when the government wants to pay internal dues, it requests the central bank to transfer from its balance in dollars to its account in dinars, meaning that it buys the dinar from the central bank. The question is what if the financial balance is not sufficient to meet its requirements?

Before the issuance of the Central Bank Law No. 56 of 2004, one of the main solutions was to borrow directly from the Central Bank (overdraft) without the latter having the right to object, but after the issuance of the aforementioned law, this mechanism stopped, and the reason is that the law has prevented The central bank is able to provide direct debt to the government while allowing it to provide indirect debt by re-deducting government bonds in the secondary market, i.e. buying them from banks and not from the government, 

And that is within the framework of the independence granted by this law to the monetary authority, which aims to define the government borrowing process and not to use the latter this policy for political purposes and the issuance of more currency and consequently lower its value as a result of inflation resulting from the increase in issuance, meaning that the law was aimed mainly To prevent the improper use of religion.

Accordingly, the new monetary issuance process cannot be implemented before amending the law first, but if this is done, Iraq will lose one of the important achievements after the year 2003 which is the independence of the central bank, and this has a negative impact on the confidence of international institutions and organizations, and its consequences On the credit rating of Iraq, as well as dealing with those institutions and the ability to obtain financial and technical support system' target='_blank' style=" rel="">support system" rel="">support, as this measure has negative consequences for the process of attracting foreign capital that we aspire to.

Away from all of that, the results that the cash issuance process can achieve do not differ from the indirect lending process initiated by the Central Bank a few days ago by re-deducting government bonds worth eight trillion dinars, but this process remains subject to the approval of the monetary authority and its appreciation of the actual need The size of the crisis and the need for government spending, which calls on us not to compromise the independence of the Central Bank, which is an important economic safety valve and the need to use specialists to deal with the crisis.

LINK
 

They Could Certainly Get Me To The Bank For Less Than That - But 1:1 Might Even Get The Iraqi’s Moving !  

 

 

     

Im going to hook up a snapping turtle to one of those things. Hold my beer and watch this ****. I just moved a big one. I need to go back and find it.

[DinarThug]

18 hours ago, DinarThug said:

LINK

 

Parliamentary Finance warns of financing policy through the cash issue

 

22:10 - 07/18/2020
 

The Parliamentary Finance Committee warned, on Saturday, of the Central Bank of Iraq resorting to the policy of financing inflation through the cash issue, indicating that it leads to raising prices and harming those with limited and fixed incomes.

The committee's rapporteur, Ahmed Al-Saffar, said in a statement that followed him / the information: “There is a difference between printing the currency and the new monetary issue, because printing is an ongoing work by the central bank, to compensate the cash categories that are damaged after being withdrawn from the circulation stream, so the money supply remains as It is, which does not affect the state of the market or inflation.”

As for the new monetary issuance, between Al-Saffar that this means creating a new amount of paper cash in different categories and this process is called in financial literature for inflation financing, because it leads directly to raising prices, and consequently low purchasing power of the national currency and lower real income of the individual, and harm to people Limited and fixed incomes, landlords and others.

He added that "monetary issuance is one of the solutions for financing the deficit, and it is usually used in economically developed countries that have a developed productive system that has flexibility, and is able to easily and quickly produce goods and services that are pumped to the market to meet the new amount of cash. When there are broken resources, new cash is used. To play it. ”

However, he added, "However, it is not advisable to use the new monetary issuance method in developing countries or that possess inflexible, slow and backward production devices, as is the case in Iraq. We in Iraq do not have production at all and depend on exporting oil and using oil revenues for import."

 

LINK

 

Parliamentary Finance warns of financing policy through the cash issue

 

22:10 - 07/18/2020
 

The Parliamentary Finance Committee warned, on Saturday, of the Central Bank of Iraq resorting to the policy of financing inflation through the cash issue, indicating that it leads to raising prices and harming those with limited and fixed incomes.

The committee's rapporteur, Ahmed Al-Saffar, said in a statement that followed him / the information: “There is a difference between printing the currency and the new monetary issue, because printing is an ongoing work by the central bank, to compensate the cash categories that are damaged after being withdrawn from the circulation stream, so the money supply remains as It is, which does not affect the state of the market or inflation.”

As for the new monetary issuance, between Al-Saffar that this means creating a new amount of paper cash in different categories and this process is called in financial literature for inflation financing, because it leads directly to raising prices, and consequently low purchasing power of the national currency and lower real income of the individual, and harm to people Limited and fixed incomes, landlords and others.

He added that "monetary issuance is one of the solutions for financing the deficit, and it is usually used in economically developed countries that have a developed productive system that has flexibility, and is able to easily and quickly produce goods and services that are pumped to the market to meet the new amount of cash. When there are broken resources, new cash is used. To play it. ”

However, he added, "However, it is not advisable to use the new monetary issuance method in developing countries or that possess inflexible, slow and backward production devices, as is the case in Iraq. We in Iraq do not have production at all and depend on exporting oil and using oil revenues for import."
 

17 hours ago, screwball said:

What is Velocity of Money? 

 

The velocity of money is a measurement of the rate at which money is exchanged in an economy. It is the number of times that money moves from one entity to another. It also refers to how much a unit of currency is used in a given period of time. Simply put, it's the rate at which consumers and businesses in an economy collectively spend money. The velocity of money is usually measured as a ratio of gross domestic product (GDP) to a country's M1 or M2 money supply.

 

remove cash.....electronic....can’t have it without private banks

 

 
 

 

     

[jmartin1145]

48 minutes ago, DinarThug said:

 

The new cash version

Saturday 18 July 2020

Dr.. In the name of Brahimi
 

 

Some have recently circulated a proposal to print the new currency or monetary issue, as it is called, in terms of possible solutions to address the financial crisis the government is going through as a result of the Corona pandemic, so can this proposal be implemented? What are the possible consequences if applied? .

In order to clarify the merits of the matter, we point out that the government, through the Ministry of Finance, has two main accounts (in addition to other accounts), the first in dollars in which its external revenues (from oil) are deposited, which constitute up to (95 percent), and the second in dinars, in which its local revenues are deposited (from taxes and fees And other returns) which are within (5 percent).

Thus, when the government wants to pay internal dues, it requests the central bank to transfer from its balance in dollars to its account in dinars, meaning that it buys the dinar from the central bank. The question is what if the financial balance is not sufficient to meet its requirements?

Before the issuance of the Central Bank Law No. 56 of 2004, one of the main solutions was to borrow directly from the Central Bank (overdraft) without the latter having the right to object, but after the issuance of the aforementioned law, this mechanism stopped, and the reason is that the law has prevented The central bank is able to provide direct debt to the government while allowing it to provide indirect debt by re-deducting government bonds in the secondary market, i.e. buying them from banks and not from the government, 

And that is within the framework of the independence granted by this law to the monetary authority, which aims to define the government borrowing process and not to use the latter this policy for political purposes and the issuance of more currency and consequently lower its value as a result of inflation resulting from the increase in issuance, meaning that the law was aimed mainly To prevent the improper use of religion.

Accordingly, the new monetary issuance process cannot be implemented before amending the law first, but if this is done, Iraq will lose one of the important achievements after the year 2003 which is the independence of the central bank, and this has a negative impact on the confidence of international institutions and organizations, and its consequences On the credit rating of Iraq, as well as dealing with those institutions and the ability to obtain financial and technical support system' target='_blank' style=" rel="">support system" rel="">support, as this measure has negative consequences for the process of attracting foreign capital that we aspire to.

Away from all of that, the results that the cash issuance process can achieve do not differ from the indirect lending process initiated by the Central Bank a few days ago by re-deducting government bonds worth eight trillion dinars, but this process remains subject to the approval of the monetary authority and its appreciation of the actual need The size of the crisis and the need for government spending, which calls on us not to compromise the independence of the Central Bank, which is an important economic safety valve and the need to use specialists to deal with the crisis.

LINK
 

They Could Certainly Get Me To The Bank For Less Than That - But 1:1 Might Even Get The Iraqi’s Moving !  

 

     

 

[DinarThug]

On 7/11/2020 at 4:54 PM, jmartin1145 said:

I might just keep this conversation going just for the fun of it.
You have nice TTTTTTeeth.

 

40 minutes ago, jmartin1145 said:

Im going to hook up a snapping turtle to one of those things.
Hold my beer and watch this ****.

Lol ! Oh This Should Probably Go Well - But Do Us A Favor And Stay Away From Those Nice TTTeeth !  

 

Fyi - This Is His Picture In The Post Above That U Have To Hit ‘Read More’ And Scroll Down To See !  

 

     
 

Edited July 20, 2020 by DinarThug

[screwball]

8 hours ago, DinarThug said:

Raise The Rate - And Watch How Fast We All Run To The Bank !  

 

 

Make Way - Naked Clown Clown Coming Thru ...

 

     

Naked no mask?

[DinarThug]

34 minutes ago, screwball said:

Naked no mask?

Who Needs A Mask - I’ll Have Makeup !  

 

     

[hawk-eye-view]

22 minutes ago, DinarThug said:

Who Needs A Mask - I’ll Have Makeup !  

 

     

Hey Thugs...

nice TTTeethburgera...now let's chow 'em down in paradise!

[Pitcher]

Ronald, shut yo mouth before someone puts a hot dog in it.  

 

[DinarThug]

48 minutes ago, Pitcher said:

 

Wait - This Sounds Like A Job For ‘Ball Park‘ Frank !  
 

 

     
 

Edited July 20, 2020 by DinarThug

[horsesoldier]

14 minutes ago, DinarThug said:

Wait - This Sounds Like A Job For ‘Ball Park‘ Frank !  
 

 

     
 

 

Thug don't need no stinking mask . . . he'll just bring his Posse

 

  

 

[DinarThug]

50 minutes ago, horsesoldier said:

Thug don't need no stinking mask . . . he'll just bring his Posse

 

 

An Insane Clown Pizza Posse !  

 

Mmm ..... Pizza ...

 

 

And Don’t Forget The Beer ...  

(btw, wtf - was that chinese writing on the top of those ‘pizza’ boxes ?)
 

     

[Mary B]

Minister of Labor: Double-payer suppall campaign in social protection will continue

Saturday 08 August 2020 - 10:05

Minister of Labor: Double-payer suppall campaign in social protection will continue
 
Baghdad - Conscious
The Ministry of Labor and Social Affairs confirmed on Saturday, that its campaign to reveal double salaries to beneficiaries of the social protection network will continue, while revealing the presence of more than 7,000 people who receive a salary other than the protection salary. 
Minister of Labor and Social Affairs Adel Hashoush Al-Rikabi told The Iraqi News Agency (AA) that "the ministry began forming committees two weeks ago to check the data of the Social Protection Network and the body of persons with disabilities and special needs beneficiaries of its services," pointing out that "the audit committee has begun its work with the General Retirement Authority and some other government departments, and that its work will continue after the Eid al-Adha holiday."
"These committees will continue to boycott the data with all security ministries, including the defense, interior, popular mobilization, the Intelligence Service, the National Security Service and the National Security Advisor, as well as the ministries of education and higher education and other ministries, which we suspect of repeating the salaries of some of its members with the Social Protection Agency and the disabled," al-Rikabi said. 
"In the early days, more than 7,000 people who receive social protection salaries, in addition to being paid pensions, or employees in other departments, were exposed," he said, adding that "the campaign will continue to expose double salaries who exceed the salaries of the social protection network that must go to the poor."
 On the other hand, the Minister of Labor explained that "the decision taken by the Council of Ministers three months ago to consider expanding the base of those covered by the Social Protection Act, based on a study submitted by the Ministry of Labor and Social Affairs and the Ministry of Planning to accommodate many families below the poverty line, especially with the worsening of unemployment in the context of the Corona pandemic," stressing that "preliminary approval was obtained from the Council of Ministers to expand the coverage base to about 60,000, but this is limited by the availability of financial allocations."
"There is currently no financial availability to accommodate this number," he said, adding that he hoped that "this will be done soon or in next year's budget, and that the focus will be on the poorest provinces and according to the ministry of planning's indicators."

 

https://www.ina.iq/110872/وزير_العمل:_حملة_كشف_مزدوجي_الرواتب_في_الحماية_الاجتماعية_ستستمر

[Mary B]

The Ministry of Labor unveils a “restriction” that prevents 600,000 citizens from being included in social protection

2020-08-08

Yassin Iraq: Baghdad

Today, Saturday, the Ministry of Labor revealed a restriction that prevents 600,000 citizens from being included in the social protection network that pays salaries to needy families.

The Minister of Labor and Social Affairs, Adel Al-Rikabi said in a press statement that "the approval of the Council of Ministers on 600 thousand citizens in social protection is restricted to the availability of allocations."

Al-Rikabi indicated that "the decision to expand the base of those covered by the Social Protection Law aims to accommodate many poor families," according to the official agency.

The Minister of Labor revealed that there are "more than seven thousand people who receive a salary other than the protection salary," noting that "the campaign continues to reveal the double wage in social protection."

Watch also: The Parliamentary Labor Committee reveals that the salaries of a category of the Social Protection Network have been suspended

 

The Ministry of Labor and Social Affairs had previously announced the inclusion of 600,000 new families with social welfare salaries, according to the budget allocations for the year 2020.

A member of the Parliamentary Labor and Social Affairs Committee said on Friday that there are many trespassers on the protection network, who will be deported and compensated with other citizens.

He explained that "everyone who receives a salary from the Ministry of Labor in non-fundamentalist ways will be removed and compensated with a new name."

 

https://yesiraq.com/وزارة-العمل-تكشف-عن-تقييد-يمنع-شمول-600-أ/

[Mary B]

The Ministry of Labor: The social protection double payroll campaign continues

 

Adel Al-Rikabi, Minister of Labor and Social Affairs. "Internet"

The Economy News - Baghdad The Ministry of Labor and Social Affairs confirmed, on Saturday, that its campaign to detect double-payers for beneficiaries of the social protection network will continue, while it revealed the presence of more than seven thousand people who receive a salary other than the protection salary.  The Minister of Labor and Social Affairs, Adel Al-Rikabi, said in a statement reported by the official news agency "INA" and reviewed by "Al-Iqtisad News". He added that "the audit committee began its work with the General Pension Authority and some other government departments, and that its work will continue after the blessed Eid Al-Adha holiday." Al-Rikabi added, "These committees will continue to boycott the data with all security ministries, including the defense, the interior, the popular crowd, the National Intelligence and Security Service and the National Security Adviser, in addition to the Ministries of Education and Higher Education and other ministries that we suspect that the salaries of some of their employees will be repeated with the Social Protection Authority and People with Disabilities."  He pointed out that, "in the first days, more than seven thousand people who receive social protection salaries have been exposed, in addition to being paid pensions, or they are employees in other departments," indicating that "the campaign will continue to reveal the double payroll who exceeds the salaries of the Social Protection Network." That should go to the poor. "

Number of observations 3   Date added 08/08/2020 https://economy-news.net/content.php?id=21329

[Mary B]

International Development announces the completion of the salary resettlement procedures for defense personnel

 

Logo of the International Development Bank

The Economy News - Baghdad On Saturday, the International Development Bank announced that the bank’s settlement teams had completed the procedures for resettling the salaries of employees of the Ministry of Defense. The bank said in a statement received by "Al-Eqtisad News", that "the settlement teams at the International Development Bank and its branches have completed all their preparations to receive fighters and employees of the Ministry of Defense after the Army Chief of Staff instructed all units to distribute the forms to the affiliates to choose the bank for the purpose of settling the salary." The statement added that the bank conducted many resettlement operations, including some state departments and the private sector, indicating that the number of citizens reached "250 thousand employees." The statement pointed out that the bank obtained the first place in the Emiratisation project by the Central Bank of Iraq compared to other banks, expressing its readiness to provide the best modern and advanced banking services to the employees of the Ministry of Defense and their families through the process of resettlement of salaries and provide all the necessary support for the success of the salary settlement project with the Ministry Defense and providing all services that serve the combatant or affiliated with distinguished banking services and offers. "

Number of observations 31   Date added 08/08/2020 https://economy-news.net/content.php?id=21328