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Economist: The control of the powerful over the currency auction prevents the dollar price from changing


yota691
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Tuesday November 2, 2021 | 08:43 AM
Number of readings: 272

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Economist Wissam Al-Tamimi said, on Tuesday, that the influence of the influential on the currency auction will prevent the dollar exchange rate from changing, pointing out that most private banks are affiliated with influential political parties that stand in front of the exchange rate change.
Al-Tamimi said that "the parties that control the currency auction have made great gains after the rise in the dollar exchange rate, especially since most of them have large commodities and goods placed in stores, and therefore they made profits after buying them at the old price as well as benefiting from their returns in the currency auction."
He added that "the influential will stand a stumbling block in the event that the dollar exchange rate is reduced in the budget, as most of their banks are working to earn profits from the currency auction, and any reduction that may occur will cause great losses for them."
Al-Tamimi explained, "The recovery of the oil market and the entry of large amounts of hard currency into Iraq will contribute to increasing the incomes of workers in the currency auction, which will push them to stand in front of any attempt by the government to reduce the dollar price in the next stage, and it is likely to keep the exchange rate at its current status or a slight increase in next year's budget

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Laid back. I respect your knowledge of how the SYSTEM is set up to minimize political influence but, in reality the big political people in power appoint the leaders of the CBI. Let's not forget the closest we have ever been to the RV is when Shabibi was the CBI chief back about 2011.  Maliki was making a killing at the auction and didn't want an RV

Soo what did he do?? He issued an arrest warrant for the guy while he was out of the country insuring he could not return. Then he put his own puppet in as the leader of the CBI.  So who is in control on paper is NOT really in control...

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Information / Baghdad…
The economic expert Wissam Al-Tamimi said, on Tuesday, that the influential people’s control of the currency auction will prevent the dollar exchange rate from changing, pointing out that most private banks are affiliated with influential political parties that stand in front of the exchange rate change.
Al-Tamimi said in a statement to "Al-Maalouma", that "the parties controlling the currency sale auction achieved great gains after the rise in the exchange rate of the dollar, especially since most of them own large commodities and goods placed in stores, and therefore they achieved profits after purchasing them at the old price, as well as benefiting from their returns in coin auction.
He added that "the influential will stand a stumbling block in the event that the dollar exchange rate is reduced in the budget, as most of their banks are working to earn profits from the currency auction, and any reduction that may occur will cause great losses for them."
Al-Tamimi explained, "The recovery of the oil market and the entry of large amounts of hard currency into Iraq will contribute to increasing the incomes of workers in the currency auction, which will push them to stand in front of any attempt by the government to reduce the dollar price in the next stage, and it is likely to keep the exchange rate at its current status or a slight increase in budget for next year. finished/ 25 n

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8 minutes ago, GreedyDinar07 said:

Ok ..... I don’t see how you can remain positive but it helps around here I will be glad when they just get it over with...

 

Just as Laid Back implied, we have never been in a better place. It is beyond me that you cannot be positive.

 

Again, after 1Q 2022 I'll be in a bistro. Dial 1 first to contact me at my regular phone number.

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53 minutes ago, Carrello said:

 

Just as Laid Back implied, we have never been in a better place. It is beyond me that you cannot be positive.

 

Again, after 1Q 2022 I'll be in a bistro. Dial 1 first to contact me at my regular phone number.

 

My money is on Carrello & Laidback!  Been a fan of both of them for a lot of years....listen and learn from them my friends!  :twothumbs:

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On 11/2/2021 at 10:26 AM, Carrello said:

Once again, Laid Back, you document factual, insightful, researched information, rather than expressing uneducated, emotional flap.

 

Thank you.

Your comment is very true Carrello, but here is what it does not say:

 

While everything Laid Back says is true, it is also true that "factual, insightful, researched" things are *necessary but not sufficient*, to move this thing forward. Here comes the uneducated emotional but true things:

 

This is all about political plays, blood and guts and political rivalry for power. To end up, with that football making a touchdown those few final yards, will be a political play. My guess is it's the Sadrists who have enough power now, will do the trick. I've read in the past, they are populist, want to increase the economic power of the masses...their political base. So, far as I understand it, they are less controlled by the Iraqi elites. 

 

This thing could have RVd years ago. Why didn't it? Lots of reasons, one of which is greedy elites in Iraq. 

 

How to change that? Give populists political power.

 

That just happened. 

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Jmo,

I think we are in a really good place. Kuwait is almost paid. Sadr won. He's a nationalist. Go HCL. He shoud keep Kazemi. Keep in mind he doesn't want the US or Iran meddling in Iraqi affairs. I'm sure he's trying to find out who he can trust. The CBI is just doing their thing. Alot of politicians are out when they change to the new parliament. He's definitely not a fan of Maliki. I like where we are at going into 2022. There's your update.  🙏 🤞 

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