Mary B Posted July 18, 2020 Report Share Posted July 18, 2020 Parliamentary finance warns of financing policy through the cash issue 22:10 - 07/18/2020 Information / Baghdad The Parliamentary Finance Committee warned, on Saturday, of the Central Bank of Iraq resorting to the policy of financing inflation through monetary issuance, 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because printing is an ongoing work by the central bank, to compensate the cash categories that are damaged after being withdrawn from the circulation stream, so the money supply remains as It is, which does not affect the state of the market or inflation.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 deficit financing, and it is usually used in economically developed countries that have a developed production 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." 25 n ended https://www.almaalomah.com/2020/07/18/485561/ 5 4 Quote Link to comment Share on other sites More sharing options...
DWS112 Posted July 18, 2020 Report Share Posted July 18, 2020 6 minutes ago, Mary B said: There is a difference between printing the currency and the new monetary issue 7 minutes ago, Mary B said: new monetary issuance, means creating a new amount of paper cash in different categories 8 minutes ago, Mary B said: monetary issuance is one of the solutions for deficit financing 5 Quote Link to comment Share on other sites More sharing options...
Floridian Posted July 18, 2020 Report Share Posted July 18, 2020 "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." 25 n ended" 5 Quote Link to comment Share on other sites More sharing options...
Gypsygirl11 Posted July 18, 2020 Report Share Posted July 18, 2020 Oh I love it when they talk about issuing new currency in different categories! 5 1 Quote Link to comment Share on other sites More sharing options...
Mary B Posted July 18, 2020 Author Report Share Posted July 18, 2020 Central Bank: There is no currency printing process for government spending purposes Central Bank: There is no currency printing process for government spending purposes 7/17/20 https://glgamesh.com/147111--.html 3 Quote Link to comment Share on other sites More sharing options...
Mary B Posted July 18, 2020 Author Report Share Posted July 18, 2020 1 minute ago, Mary B said: Central Bank: There is no currency printing process for government spending purposes Central Bank: There is no currency printing process for government spending purposes 7/17/20 https://glgamesh.com/147111--.html https://www.google.com/search?q=Central+Bank%3A+There+is+no+currency+printing+process+for+government+spending+purposes&oq=Central+Bank%3A+There+is+no+currency+printing+process+for+government+spending+purposes&aqs=chrome.0.69i59j69i60l3.13477j0j7&sourceid=chrome&ie=UTF-8 3 1 Quote Link to comment Share on other sites More sharing options...
DWS112 Posted July 18, 2020 Report Share Posted July 18, 2020 1 hour ago, Mary B said: the Central Bank of Iraq resorting to the policy of financing inflation through monetary issuance If the CBI is not currency printing then they are in the act of issuing new categories! 2 3 3 Quote Link to comment Share on other sites More sharing options...
screwball Posted July 18, 2020 Report Share Posted July 18, 2020 7 minutes ago, DWS112 said: If the CBI is not currency printing then they are in the act of issuing new categories! Boom! 5 Quote Link to comment Share on other sites More sharing options...
screwball Posted July 18, 2020 Report Share Posted July 18, 2020 Excellent article... 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted July 18, 2020 Report Share Posted July 18, 2020 1 hour ago, Mary B said: 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. This is what happens when you release notes of higher value....leads to high inflation and if they spend with out adjusting the rate ie:release the budget it will cause hyperinflation....will never happen......lower denoms and rate change required! 3 3 Quote Link to comment Share on other sites More sharing options...
dinarham Posted July 19, 2020 Report Share Posted July 19, 2020 I can't find any dinar for sale on the three major dinar selling sites . 1 4 Quote Link to comment Share on other sites More sharing options...
southbeach Posted July 19, 2020 Report Share Posted July 19, 2020 22 minutes ago, dinarham said: I can't find any dinar for sale on the three major dinar selling sites . Iraqi international flights resume on July 23, so you should see some IQD arriving through US airport Customs soon enough. 3 1 Quote Link to comment Share on other sites More sharing options...
jmartin1145 Posted July 19, 2020 Report Share Posted July 19, 2020 3 hours ago, Gypsygirl11 said: Oh I love it when they talk about issuing new currency in different categories! I just love it when they just talk about anything other than soon. But different is good nowadays. 1 1 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted July 19, 2020 Report Share Posted July 19, 2020 3 hours ago, dinarham said: I can't find any dinar for sale on the three major dinar selling sites . That’s because flights have stopped sow has the smuggling! 2 Quote Link to comment Share on other sites More sharing options...
Mary B Posted July 19, 2020 Author Report Share Posted July 19, 2020 (edited) Parliamentary Finance: We warn that the Central Bank will resort to the policy of financing inflation through monetary issuance by EditorEconomy2 Hours ago The decision of the Finance Committee in the House of Representatives Ahmed Al-Saffar warned of the Central Bank of Iraq's resort to the policy of financing inflation through monetary issuance Al-Saffar said in a statement, that 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 exposed to damage after withdrawing them from the circulation stream, so the money supply remains the same, which does not affect the market condition Or inflation. He added, regarding the new monetary issuance, that it 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 per capita, and harm people with limited incomes Fixed and landlords and others. https://altaghier.tv/2020/07/19/المالية-النيابية-نحذر-من-لجوء-البنك-ال/ googled link https://www.google.com/search?q=Parliamentary+Finance%3A+We+warn+that+the+Central+Bank+will+resort+to+the+policy+of+financing+inflation+through+monetary+issuance&oq=Parliamentary+Finance%3A+We+warn+that+the+Central+Bank+will+resort+to+the+policy+of+financing+inflation+through+monetary+issuance&aqs=chrome..69i57j69i60j69i61.1469j0j7&sourceid=chrome&ie=UTF-8 Edited July 19, 2020 by Mary B 3 3 Quote Link to comment Share on other sites More sharing options...
DWS112 Posted July 19, 2020 Report Share Posted July 19, 2020 14 minutes ago, Mary B said: cash categories Looks like more cash categories are on the way! Great article Mary B! 5 Quote Link to comment Share on other sites More sharing options...
danielchu Posted July 19, 2020 Report Share Posted July 19, 2020 What he is warning of is larger notes leading to inflation! 7 Quote Link to comment Share on other sites More sharing options...
dinarham Posted July 19, 2020 Report Share Posted July 19, 2020 I really liked the part about "creating a new amount of cash in different catagories " . Lower denoms mean rv time . 5 Quote Link to comment Share on other sites More sharing options...
hawk-eye-view Posted July 19, 2020 Report Share Posted July 19, 2020 revving up, staying positive, envisioning nation lifting up nation...rejecting darkness, concentrationg only on levity, laughter and love to help usher in more light...and with that, the transfer of wealth begins. 😟 Gettin' ready to do a happy dance... 5 1 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted July 19, 2020 Report Share Posted July 19, 2020 16 hours ago, dinarham said: I can't find any dinar for sale on the three major dinar selling sites . I did a quick search on eBay, uncirculated 25,000 notes going for almost $1,000 for half a million. That’s roughly double what we paid last time we bought some several years back. 2 3 Quote Link to comment Share on other sites More sharing options...
3n1 Posted July 19, 2020 Report Share Posted July 19, 2020 5 hours ago, Mary B said: He added, regarding the new monetary issuance, that it 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 per capita, and harm people with limited incomes Fixed and landlords and others. Hmmm, either this person is describing printing new notes higher than the 25K note currently in iraq , " the new monetary issuance will lead to high prices and a lower purchasing power ( per the article ) " ... IMO issuing the new Low denoms will have to be released with a new higher exchange rate in turn increases purchasing power for the iraqi ... im probably way off though I'll keep checking the magic 8 ball , so as usual we wait .. cheers dv'ers 1 4 Quote Link to comment Share on other sites More sharing options...
3n1 Posted July 19, 2020 Report Share Posted July 19, 2020 Laughing , whoever responded with the confused emoji might explain to me what the breakdown of the article Mary B posted so all and myself included could not be confused .... 👍 3 Quote Link to comment Share on other sites More sharing options...
dinarham Posted July 19, 2020 Report Share Posted July 19, 2020 What would be the point of printing lower denoms as they would be absolutely miniscule in value ,lots of effort and expense for nothing , a snipe hunt. 1 2 Quote Link to comment Share on other sites More sharing options...
Floridian Posted July 20, 2020 Report Share Posted July 20, 2020 (edited) "the Central Bank of Iraq resorting to the policy of financing inflation through monetary issuance" Ya know what? The more I read about this, the more I'm thinking that they are going print money like crazy (as the US is currently doing). I'm hoping that when all this money printing is over, all these countries will go digital with gold-backed digital currency. In other words, a "global reset". Edited July 20, 2020 by Floridian Quote Link to comment Share on other sites More sharing options...
Floridian Posted July 20, 2020 Report Share Posted July 20, 2020 I just read this is another article. Now I'm sure. They are not issuing lower denoms. They want to print money due to losses from the virus (just like the US). This will lead to inflation, lower purchasing power and lower real income and cause financial harm to citizens. "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." Quote Link to comment Share on other sites More sharing options...
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