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Iraq .. What is the truth about the trend to print new currency denominations that exceed 50 thousand - urgent?


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4 hours ago, Wheelman said:

Good Morning to you KJ, I just listen to a replay of that call, and Joey was the one who read the article to the community on the Federation Council, and read the Gulf Mellinium Project, but that’s here nor there, Joey nor myself are in any competition on who knows what, or with anyone, or feed off negative attention, life is to short, we just want the facts and truth in the community KJ, that’s all. You have a blessed day.

 

P.S. May I ask, why haven’t you brought this information to the community prior to my post, it shouldn’t take you to see Joey name to give negative feed back.
 

All I want is to help the community in a positive manner, with integrity and respect for everyone, and so does Joey.

I’ll repeat my stance I want to hear from anyone who has information on this investment, (notice I )! I think I have been around this site long enough to say, I think probably 90% of the members here on DV, want people on DV, that bring solid information that is positive, and with integrity! With that, you will get respect from most of us. I mean articles or other information that is not just blatantly over the top bull$hit! So with that said, I personally want to welcome you and Joey! JMHO there are some great Americans  and very smart people on this site. Which I can’t wait to meet when this investment does mature! I appreciate everyone here. Adam is the best, he and his staff work very hard in keeping this site number one, in the dinar world! This is a tough crowd, so if you wear your feelings on your sleeve, you probably will get your feelings hurt! Welcome again, I look forward to your post! JMHO 🤠

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I believe the articles talking about printing new 50,000 notes and also the articles talking about devaluation of the dinar, are pure BS   Their goal is an open market economy with an i

Anybody been in this investment should know, history was already in the making, Dr. Sinai Shabibi Governor of the Central Bank of Iraq at the time had already printed the $100,000.00 note and the $50,

Anyone in this investment for significant time knows that everyone in Iraq government will run their mouth with their "opinion'.  Nobody knows what the CBI plan is. But if they go with the council of

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50 minutes ago, Laid Back said:

The CBI plan is to move to an open market economy, they cannot achieved that printing 50,000 or 100,,000 IQD notes.

Laid back never fear, they printed 100,000 notes at the same time as the 50,000 notes. They are only for large bank transactions not for the street. Ill see if I can find those old articles. This is cool propaganda if you ask me.

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6 hours ago, Wheelman said:

Good Morning to you KJ, I just listen to a replay of that call, and Joey was the one who read the article to the community on the Federation Council, and read the Gulf Mellinium Project, but that’s here nor there, Joey nor myself are in any competition on who knows what, or with anyone, or feed off negative attention, life is to short, we just want the facts and truth in the community KJ, that’s all. You have a blessed day.

 

P.S. May I ask, why haven’t you brought this information to the community prior to my post, it shouldn’t take you to see Joey name to give negative feed back.
 

All I want is to help the community in a positive manner, with integrity and respect for everyone, and so does Joey.

That’s awesome I was actually hoping that was KJ also! Not sure what happen to you guys and gals back in the day but when you all were a team and getting along with each you were the best of knowledge period! I know KJ is extremely knowledgeable as well so please both of you keep sharing and help this dinar community PLEASE we ALL can benefit from your knowledge and let by gones be by gones as they say!! I truly truly do appreciate everything all of your team shares with us and it would be so amazing to have this RV finally come to fruition with everyone sharing their knowledge together! Thanks KJ, Joey and Wheelman all of you are very much appreciated truly!!!

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The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, warned, on Tuesday, of the danger of going to print a new currency to cover the financial deficit, noting that the first affected by the repercussions of inflation are those with limited and fixed incomes of employees and property owners.

Al-Saffar said in an interview with Al-Sumaria News, "The committee has a host for the central bank governor during the coming days, as he was supposed to attend yesterday, Monday, but he was late due to commitments and awaiting agreement on a new date for the meeting," indicating that "the process of issuing a new cash in the economy "Unproductive like Iraq, it will lead directly to the phenomenon of inflation."
 
Al-Saffar added, "Inflation means a rise in commodity prices in the market with the loss of the local currency's value and monetary strength against hard currencies," noting that "the one affected by this situation is the owners of limited and fixed incomes, meaning that the first affected are employees and property owners.

He stressed that "this monetary policy will not benefit the Iraqi economy, which is already in a financial crisis, and there are other measures within the fiscal and monetary policy that can be taken by the government to alleviate the current crisis instead of going to print the currency."
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New currency printing warning: Three classes will be affected

10/27/2020

 

The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, warned, on Tuesday, of the danger of going to print a new currency to cover the financial deficit, noting that the first affected by the repercussions of inflation are those with limited and fixed incomes of employees and property owners.


Al-Saffar said, "The committee has a host for the central bank governor in the coming days, as he was supposed to attend yesterday, Monday, but he was delayed due to commitments and awaiting agreement on a new date for the meeting," indicating that "the process of issuing a new cash in a non-productive economy like Iraq is." It will lead directly to the phenomenon of inflation. "


Al-Saffar added, "Inflation means a rise in commodity prices in the markets with the loss of the local currency's value and monetary strength against hard currencies," noting that "the one affected by this situation if it happened is the owners of limited and fixed incomes, meaning that the first affected are employees and property owners." For Alsumaria News.


He stressed that "this monetary policy will not benefit the Iraqi economy, which is already in a financial crisis, and there are other measures within the fiscal and monetary policy that can be taken by the government to alleviate the current crisis instead of going to print the currency."

 

 

************

I think the title of this article means this:

Three classes will be affected -

 1.  fixed and limited incomes

 2.  employees

 3.  property owners

 JMO DWS112 

Edited by DWS112
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2 hours ago, dinarham said:

 In the midst of this smoke screen , it's lower denoms that will be introduced . Nothing else makes sense.

dinarham, Sure hope you are absolutely correct.  We are rooting for the PM, GOI, CBI & Parliament to get er done....👍👍😁😁🙏🙏.

 

GO RV & RI

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5 hours ago, Floridian said:

 

Why are they talking about PRINTING currency when all the Central Banks of the world are going digital?

 

We will see how that works out when the inevitable destructive solar flare hits the Earth.

Cash is and always will be KING

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53 minutes ago, SocalDinar said:

We will see how that works out when the inevitable destructive solar flare hits the Earth.

Cash is and always will be KING

 

I sure hope they have some kind of contingency plans for EMP attacks, solar flares and that sort of thing.

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Al-Mustaqila ... The official spokesman for the Iraqi Prime Minister, Ahmad Mulla Talal, confirmed that the employees ’salaries are fully insured.

Mulla Talal said during a press conference held yesterday in Baghdad, that the news that spoke about the intention of the Central Bank to print a new currency is incorrect, because the monetary policy management of the Central Bank is a clear administration and aims to maintain the exchange rate.

 

This confirmation comes after the circulation of many news about the delay in the delivery of salaries to employees and that the Central Bank of Iraq will resort to printing more currency to cover the deficit in salary insurance.

According to the reporter of the Finance Committee in the Iraqi Parliament, Ahmed Al-Saffar, the estimated information confirms that there are 8 million people in Iraq who receive salaries from the state, including an employee, retired, social welfare, and others, despite the prime minister's request to provide names with double salaries to stop this situation.

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A large percentage of big money transactions will be digital ,but cash is almost always king when it's in county or in  a country where it's easily converted . However, try  to purchase a spanking new car,  boat ,property with cash in this country if it's a  price {over $10,000} . Drug honchos in Mexico ,they always have to pay cash for stuff ,unless they get it for free.

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1 hour ago, Floridian said:

 

I sure hope they have some kind of contingency plans for EMP attacks, solar flares and that sort of thing.

    What would we care ? We would be crispy critters and on our way to our great reward. 

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11 minutes ago, dinarham said:

    What would we care ? We would be crispy critters and on our way to our great reward. 

 

Solar flares and CMEs pose no direct threat to humans—Earth’s atmosphere protects us from the radiation of space weather. (If an astronaut out in space is bombarded with the high-energy particles from a CME, he or she could be seriously injured or killed. But most of us won’t have to worry about that situation.) We could, however, feel the effects of CMEs indirectly, through the disruptions to our technology—some of which could have devastating and lingering effects on civilization.

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A "knockout" blow to the Iraqi dinar: currency printing in exchange for the end of the financial crisis ... What will Iraq do about "international conditions"?

2020-10-27  Yes Iraq - Baghdad

https://yesiraq.com/ضربة-قاضية-للدينار-العراقي-طباعة-الع/

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The expert in economic affairs, Salam Sumaisem, confirmed that the devaluation of the Iraqi dinar will reflect negatively on the citizen and will lead to an inflationary problem as a result of a new force hitting the Iraqi economy at home as a result of the high prices of consumer foodstuffs that are in demand and this great demand will lead to higher prices.

Sumaisem said, in statements to her, monitored by "Yes Iraq": "The government is facing a great challenge, which is to provide funds with which to pay public expenditures, and this money is necessary to provide it. Reducing the value of the dinar will provide it with that, but on the other hand it will generate inflationary pressure on the citizens, since the devaluation of the dinar will be "This will lead to a rise in the prices of consumer foodstuffs that are in demand, and this great demand will lead to a rise in prices and an inflationary problem as a result of a new force hitting the Iraqi economy at home."

She explained that “the government is obligated to this reduction, and these changes will be in light of the state’s need for financial resources and the increasing need to pay the salaries of employees. At the same time, an austerity plan must follow that reduces the waste of the dinar and try to find a feasible way of spending so that the situation is not lost in a situation with this laxity in paying salaries.” “.

The economic expert stressed the need to eliminate the leakage outlets represented by the aliens, the multi-salary, the mafias and the networks of corruption, stressing that without that any reform or reduction will not succeed.

 >>>>>>>>>>>>

 

 

 

salam smeasim @SalamSmeasim

Translated from Arabic by

I do not expect it to be #العراق By printing the Iraqi currency #بدون_غطاء Because it would be a fatal blow to the #دينارالعراقي And this is unacceptable according to our links to #صندوق_النقد_الدولي And Lan #الدينار_العراقي Now within the currencies offered on the global stock exchanges, not like the time of the blockade, the situation is completely different.
>>>>>>>>>>>>

 Sumaisem suggested, in her blog post about currency printing, saying: In light of the current economic variables, I do not expect Iraq to print the Iraqi currency without a cover, because the matter will be a fatal blow to the Iraqi dinar.

And I concluded, that this is unacceptable according to our links with the International Monetary Fund and because the Iraqi dinar is now among the currencies offered on the global stock exchanges, not like the time of the siege and the world's boycott of the Iraqi government, the situation is completely different.

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A conscious / member of Parliament reveals reasons that led to the high exchange rate of the dollar

10/28/2020

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A member of the Parliamentary Finance Committee, Naji Al-Saeedi, said today, Wednesday, that  👉 the reason for the high exchange rate of the dollar in Iraq is the printing of the new currency👈   without a balance covering it, and this is an explicit violation of the Central Bank Law No. 56 of 2004.


Al-Saeedi said in a press statement reported by (Iraqi Media News Agency / INA) correspondent, that “the reason for the high exchange rate of the dollar in Iraq is our use of the new monetary issuance or inflationary financing from exchange rate policies, as   👉 we printed a new currency👈   and this is contrary to the Central Bank Law No. 56 For the year 2004, which stipulates that a currency is not printed if it does not have a balance to cover it, whether it is gold, bonds, or cash in dollars, ”indicating that“ this caused an increase in the exchange rate of the dollar and thus a rise in the prices of goods imported into Iraq. ”


He added, "The beneficiaries of that are the banks involved in the window of selling the currency and they get a difference from that, meaning, for example, they buy one hundred dollars at 118 thousand Iraqi dinars, and they sell at 128 thousand dinars, and here the banks get a difference, the amount of which is an estimate 10,000 dinars. ”


A member of the Parliamentary Finance Committee continued, “If we have financial stability in the country, this amount of ten thousand dinars obtained by the banks can go to the budget, because the Ministry of Finance is the one who owns the dollar and sells it to the central bank who owns the banknote even if we had it. Financial stability, this rise in the dollar price leads to a reduction in the state budget deficit.

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36 minutes ago, horsesoldier said:

The upper echelon Breaking the law in Iraq ? Say it ain’t so ! Hells Bells, it’s what they “ does.”

         Whenever I read an "opinion" piece of news , I take it with a huge grain of salt . The present government in Iraq is going after corruption aggressively . Corruption has no place in a stringent international banking system . The upper echelon is "doesing" the right thing ,raising Iraq out of the ashes. 

 

 

 

 

 

 

 

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