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Al-Shabibi: We could control the rise of U.S. dollar through the Iraqi cash reserves


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The governor of Iraqi Central Bank Dr. Sinan al-Shabibi stated to (Al-Sabah

paper) that the central bank has proved its ability to meet the disclosure of

Iraq dinar and limit the deficit against the dollar due to the accumulation of

Iraqi cash reserves, which exceeded 41 billion dollars, as stated in the

conference of banking business, which held under the auspices of Iraqi Banks

Association with high-level representation of the Iraqi Central Bank.

Al-shabibi said that there might be participations in the first stage to

finance the wheel of major reconstruction, and we in the Iraqi Central Bank

would encourage the entry of private banks in financing the strategic projects.

With regard to the high exchange rate of U.S. dollar, Alshabibi said that Iraqi

Central Bank does not work randomly, but there are some measures that we have

tried to check out for some important issues in central bank’s auction, because

the situation was very sensitive and has an impact on the market rapidly, the

dollar exchange rate moved upward, which we wish clearly that the rapid

realization what makes the bad reaction of the market’s exchange rate, but the

capacity of the Central Bank and its hard work was able to go back to stability

and full control over the cash reserve which is managed by the Central Bank of

Iraq that dealt with the case of oscillation at high speed.

Alshabibi called the Iraqi officials to make sober statements about monetary

policy, because we are talking on developing a particular sector, the most

sensitive and important sector which is real advance for the development in

Iraq, and as mentioned above, the purpose of the reserve is to stabilize the

Iraqi dinar, that the Central Bank succeeded to sustain.

Alshabibi added that the Iraqi private banks have good financial status now, to

contribute in the investment of big and medium enterprises, as they are

qualified to play a real role in reviving the Iraqi economy.

Alshabibi called the private banks to take the advantage of the Iraqi

government’s invitation to support the private sector through playing the role

of money product supplier and urged the bankers to access to ideas aimed to

develop the Iraqi banking sector.

http://todayiraq.com/2011/01/al-shabibi-we-could-control-the-rise-of-u-s-dollar-through-the-iraqi-cash-reserves/

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As it pertains to this part.....

With regard to the high exchange rate of U.S. dollar, Alshabibi said that Iraqi Central Bank does not work randomly, but there are some measures that we have tried to check out for some important issues in central bank’s auction, because the situation was very sensitive and has an impact on the market rapidly, the dollar exchange rate moved upward, which we wish clearly that the rapid realization what makes the bad reaction of the market’s exchange rate, but the capacity of the Central Bank and its hard work was able to go back to stability and full control over the cash reserve which is managed by the Central Bank of Iraq that dealt with the case of oscillation at high speed.

Wondering if you have any summary thoughts on this knowing that the translation isn't always spot on

Thanks in advance

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I've been watching the debt clock since Bush was in office. http://www.usdebtclock.org/ It was terrible before, but now it's crazy stupid debt.

I hate to say this, but if this thing does not RV and soon...with the deficit troubles and a very realistic default on our loans we're in big big trouble. Rob Peter to pay Paul and invite socialism (which costs you more than you're willing to pay in the long run) and you now have the current U.S. situation. Very sad.

And what's more is, seemingly, our fate is in the hands of the very people we're trying to push into independence and capitalism...and they're beyond corrupt. I think they'll be very controlling before it's all said and done. I'm sorry, but I don't feel the United States politicians (Congress and the President) are qualified anymore to know what capitalism and economy is.

Moreover, we need someone in leadership that is powerful and strong in economy and business to assist pulling us out of the mess the politicians (past and present) have created. And to think they're supposed to have a good education. I know they're mandated to study economics....or maybe they were all just walking around in a green fog....you know....weed on the brain. UGH!!!

:angry:

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Hi Adam,

You posted this today but title says (from January). Can you please tell us what this means in straight English? Appreciate your work and posts but I usually am left confused when there is no explanation or no comment from members explaining what it means. Appreciate it. Thanks! :blink:

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Sorry for the rant. I simply don't like our possible fate being tied to monetary policy and currency exchange with Iraq and the dinar. Moreover, I don't like the thought of Iraq having the ability to move our dollar up or down.

yes, good point...but you know...there's even worse news for the USA...it won't be Iraq affecting the USD...it WILL be China...and soon....so as i said in aprevious post...start a learnin the Chinese language (Mandarin)you';re gonna need it...heheh...and here in Australia...well..they have already bought most of our huge farms...so all food produced here will go to feed the Chinese...we'll just get the left-overs...oh and we are also busy learning Mandarin. sorry......these are the end times...and it will be a pretty exciting 9 months to come...as world events that are coming, will just blow your mind...

get out of debt...make some other investments that will earn you some cash flow...and hold on tight.

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can someone translate what shabibi said in that article? private banks, move the dollar up and down, wtf! what is the man saying about the cbi's involvement in the economic public, private and international sectors of iraq's future? was there anything in there that relates to any of that? anyone???

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can someone translate what shabibi said in that article? private banks, move the dollar up and down, wtf! what is the man saying about the cbi's involvement in the economic public, private and international sectors of iraq's future? was there anything in there that relates to any of that? anyone???

This is a stretch here, but could it be like what is happening with those stepping in with the jap.yen now? to control the us dollar and fight speculation. Now the banks are selling new ld dinars as well as the yen? Am I way off base here? See yesterdays article re the yen and the feds.

My brain hurts blink.gif

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yes, good point...but you know...there's even worse news for the USA...it won't be Iraq affecting the USD...it WILL be China...and soon....so as i said in aprevious post...start a learnin the Chinese language (Mandarin)you';re gonna need it...heheh...and here in Australia...well..they have already bought most of our huge farms...so all food produced here will go to feed the Chinese...we'll just get the left-overs...oh and we are also busy learning Mandarin. sorry......these are the end times...and it will be a pretty exciting 9 months to come...as world events that are coming, will just blow your mind...

get out of debt...make some other investments that will earn you some cash flow...and hold on tight.

I know all too well about the worse news. I was speaking from the standpoint of Iraq and the dinar. I'm scared of what's going to happen here and I don't like feeling this way.

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People! Relax this article was published on January 11, 2011 by a news site that has 'its own ax to grind.' The date today is March 21, 2011. I seriously doubt that certain (and I will not mention names) US Officals have been in

Iraq for over a month working out the details on how to unroll the Revaluation of the Iraqi Dinar with more professionalism then ever before seen in a major currency change for any country and at the same time provide superior security just there for fun? and they are not there to allow the US Dollar to do anything close to a dive.:D

Actually IQD Investors will in the end help the USD to soar higher then ever before.:D

I noted that you did not comment on the article Adam therefore in my opinion is if investors maintain equilibrium and balance by allowing the fluctuations of news cycles and smoke screens to flow through them instead of bottling them up inside like shaking carbonated drink ready to explode, then all will move out of the frame of mind of annoyance and disappointment and into the grand blessings of success of the IQD Revaluation looming on the Horizon!:D

God Bless America!

Edited by Jac
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I've been watching the debt clock since Bush was in office. http://www.usdebtclock.org/ It was terrible before, but now it's crazy stupid debt.

Moreover, we need someone in leadership that is powerful and strong in economy and business to assist pulling us out of the mess the politicians (past and present) have created. And to think they're supposed to have a good education. I know they're mandated to study economics....or maybe they were all just walking around in a green fog....you know....weed on the brain. UGH!!!

:angry:

I really don't think the American people as a whole what to tighten the belt to take care of the problem.

Of course I could be wrong ....and it could be the rowdy minority getting their way. :blink:

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get over it aferris --we did this tom our selves--we are down the road to far, intstead of promoting our capibilies we have turned our country into a servicerelated country----we have nothing left to promote except milatary power and we get even a lesser return for that than we do for our own products--jobs sent overseas--instead of taking on our domestic enemies of our country---voter buying, unions , big government and the worst thing imaginable our arragance that we can't be dethrowned AND DOMESTIC SLIENCE!

Take a lesson from the ME , they are fed up with it---WHY AREN'T WE! We are being taxed to death to provide for almost 39% of our population who do nothing to contribute and it as growing exponetionally everyday --the tax base getting smaller, the freeloaders getting exspanding till there will be no hope of a free USA

Extreme, possiblly aferris---I think we have our heads buried so far in the sand that we iqnore what is truly happening

Hey --OUR CURRENCY IS TIED TO WHAT HAPPENS WITH IRAQbut is a short term stop gap measure

this a grasping at last straws!

WE do have the great equalizer if we play the cards but no policitcal party or politician has the b--- to play it first , then go from thereCC

becuase The UNITED STATES OF AMERICA has never played that game with the world but now our backs are against the wall, now is the time, no matter what happens the USA is going to suffer---there is no white knight , it is time to get hard core and PLAY OUR ONLY TRUMP CARD with the rest of the world!

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get over it aferris --we did this tom our selves--we are down the road to far, intstead of promoting our capibilies we have turned our country into a servicerelated country----we have nothing left to promote except milatary power and we get even a lesser return for that than we do for our own products--jobs sent overseas--instead of taking on our domestic enemies of our country---voter buying, unions , big government and the worst thing imaginable our arragance that we can't be dethrowned AND DOMESTIC SLIENCE!

Take a lesson from the ME , they are fed up with it---WHY AREN'T WE! We are being taxed to death to provide for almost 39% of our population who do nothing to contribute and it as growing exponetionally everyday --the tax base getting smaller, the freeloaders getting exspanding till there will be no hope of a free USA

Extreme, possiblly aferris---I think we have our heads buried so far in the sand that we iqnore what is truly happening

Hey --OUR CURRENCY IS TIED TO WHAT HAPPENS WITH IRAQbut is a short term stop gap measure

this a grasping at last straws!

WE do have the great equalizer if we play the cards but no policitcal party or politician has the b--- to play it first , then go from thereCC

becuase The UNITED STATES OF AMERICA has never played that game with the world but now our backs are against the wall, now is the time, no matter what happens the USA is going to suffer---there is no white knight , it is time to get hard core and PLAY OUR ONLY TRUMP CARD with the rest of the world!

Capt. Cliff,

I agree with you about outsourcing, arrogance, and the dumbed-down America although I cannot "get over it"...I am a staunch conservative who has been predicting a situation like this for years. I did not vote for big government and idiot socialistic liberals with no ba*ls. I have debated and lobbied for years to attempt to keep this from happening. I am not into socialism and programs for everything under the sun; furthermore, I am also a business owner and it's me that's being taxed until my eyes cross on everything and possibly my used underpants. Moreover, I am with the Tea Party, I'm pushing for the Fair Tax, and I've been going to college campuses in my area trying to educate students and give them a new perspective on things......all to my aggrieved and disappointed state. With all due respect, sir, forgive me for venting and being upset and scared. If there is one thing I can say for myself...I'm not just talk and I've done my part to try and turn our nation around. What's more is there are many more out there like me who have been proactive and tried and tried. I hope you understand where I'm coming from and I appreciate your post.

Have a good evening, sir.

People! Relax this article was published on January 11, 2011 by a news site that has 'its own ax to grind.' The date today is March 21, 2011. I seriously doubt that certain (and I will not mention names) US Officals have been in

Iraq for over a month working out the details on how to unroll the Revaluation of the Iraqi Dinar with more professionalism then ever before seen in a major currency change for any country and at the same time provide superior security just there for fun? and they are not there to allow the US Dollar to do anything close to a dive.:D

Actually IQD Investors will in the end help the USD to soar higher then ever before.:D

I noted that you did not comment on the article Adam therefore in my opinion is if investors maintain equilibrium and balance by allowing the fluctuations of news cycles and smoke screens to flow through them instead of bottling them up inside like shaking carbonated drink ready to explode, then all will move out of the frame of mind of annoyance and disappointment and into the grand blessings of success of the IQD Revaluation looming on the Horizon!:D

God Bless America!

Thank you, Jac, for your words of encouragement. I hope you're right. I know if it goes through there are several businesses I would like to start to help out my city and community. Get back to the basics, provide people with work, and enjoy life.

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I've been watching the debt clock since Bush was in office. http://www.usdebtclock.org/ It was terrible before, but now it's crazy stupid debt.

I hate to say this, but if this thing does not RV and soon...with the deficit troubles and a very realistic default on our loans we're in big big trouble. Rob Peter to pay Paul and invite socialism (which costs you more than you're willing to pay in the long run) and you now have the current U.S. situation. Very sad.

And what's more is, seemingly, our fate is in the hands of the very people we're trying to push into independence and capitalism...and they're beyond corrupt. I think they'll be very controlling before it's all said and done. I'm sorry, but I don't feel the United States politicians (Congress and the President) are qualified anymore to know what capitalism and economy is.

Moreover, we need someone in leadership that is powerful and strong in economy and business to assist pulling us out of the mess the politicians (past and present) have created. And to think they're supposed to have a good education. I know they're mandated to study economics....or maybe they were all just walking around in a green fog....you know....weed on the brain. UGH!!!

:angry:

that last part made me think of donald trump scary...

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Exactly that, Capt..lets put people back to work or partner with them is businesses. America will survive regardless of how it appears.every American is a freedom loving entrepreneur at heart who take to heart our Constitutional Rights very seriously.:)

God Bless America!

Edited by Jac
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yes, good point...but you know...there's even worse news for the USA...it won't be Iraq affecting the USD...it WILL be China...and soon....so as i said in aprevious post...start a learnin the Chinese language (Mandarin)you';re gonna need it...heheh...and here in Australia...well..they have already bought most of our huge farms...so all food produced here will go to feed the Chinese...we'll just get the left-overs...oh and we are also busy learning Mandarin. sorry......these are the end times...and it will be a pretty exciting 9 months to come...as world events that are coming, will just blow your mind...

get out of debt...make some other investments that will earn you some cash flow...and hold on tight.

:lol: :lol: yes learn chinese! :D

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I've been watching the debt clock since Bush was in office. http://www.usdebtclock.org/ It was terrible before, but now it's crazy stupid debt.

I hate to say this, but if this thing does not RV and soon...with the deficit troubles and a very realistic default on our loans we're in big big trouble. Rob Peter to pay Paul and invite socialism (which costs you more than you're willing to pay in the long run) and you now have the current U.S. situation. Very sad.

And what's more is, seemingly, our fate is in the hands of the very people we're trying to push into independence and capitalism...and they're beyond corrupt. I think they'll be very controlling before it's all said and done. I'm sorry, but I don't feel the United States politicians (Congress and the President) are qualified anymore to know what capitalism and economy is.

Moreover, we need someone in leadership that is powerful and strong in economy and business to assist pulling us out of the mess the politicians (past and present) have created. And to think they're supposed to have a good education. I know they're mandated to study economics....or maybe they were all just walking around in a green fog....you know....weed on the brain. UGH!!!

:angry:

Aferris -----With all respect, and I mean that, as a liberal professor and a lifelong student of politics, I have to go after you on all of this. Firstly, this is a bad translation from Adam. Secondly, we as a nation are in a juvenile form now. The Democratic socialist states of Europe are way ahead of us in so many ways. They did not suffer as we did in the crash of 08 because they aren't in a disaster capitalism phase. We are. You are also conflating (putting together) Iraq's RV with the fate of the US dollar. Bullcrap. The US dollar is a GLOBALLY traded currency used for major commodities worldwide. Why would a country the size of California, and a CLIENT state of ours, with a small GDP no less, CONTROL our dollar's fate? Please...let's not make a mountain out of this currency revaluation. People, why make this a grandiose event? It is just a logical outcome of war, and has happened before. It's just another way the invading country (USA) gets to make more money. It will not save us from ourselves. Give me a break...

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Well it looks like everyone will VOTE for MR TRUMP. At least this is my bet.

In the mean time at least this hopeful RV will take place and give me some upward breathing room...

I need more good news daily. My dreams have been broadening!

Go DINAR RV!!!!

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