Walkingstick: Don’t Be Afraid of China’s Currency Gift Basket
http://www.wsj.com/articles/dont-be-afr ... 1449901630
MountainMan: Well I like these WORDS......TRADE-WEIGHTED BASKET+13 COUNTRIES CURRENCIES......Hmmmm Which Ones Are they???
LOL.....WHO are The NEW ONES, Bahhaaaa.......
Thank You WS......TIME to do Lift this HEAVY BASKET.......Interesting how CHINA is Leading the WAY since their IMF November 30 Entrance to this "BASKET"......
TRADE Agreements also have Weighed Heavily in the TIMING of Events.....Very Intriguing IMO!!!!!!!
Merry Christmas, Mountainman
CSHessman: walkingstick:: Central bank: the reserves of foreign currency than the local currency Exporting
He wrote in: December 13, 2015
Form the subject of foreign currency reserves at the Central Bank of Iraq the focus of a panel discussion organized by the "Institute of progress" of development policies, which expressed concern over the worsening of the problems taking place in the economy and the financial and productive sectors experts.
The Governor of the Central Bank of Iraq on the Keywords during the seminar that "the reserve of foreign currency than the local currency issued by comfortable," pointing out that "the global standard for calculating as an indicator of adequacy."
And he declared that "the bank adds a day more than $ 500 million refers to the lack of concern in this aspect," explaining that "the IMF said in a study two weeks ago that this reserve will rise again in 2016 to reach $ 91 billion by 2020"
He stressed Keywords that "the source of this reserve is not the central bank, as the decline does not mean there is a problem, since the reserve is the dollar, which comes from the Ministry of Finance and the decline in revenue resulting from the oil dollar sub-par this reserve with the central bank," saying it was "a matter of natural ".
He stated that "the role of this reserve is to achieve a balance in the balance of payments, that is, between the need for the dollar and contained him by pumping quantities that kept the exchange rate, if the role of reservists to fill the need to keep a balance exists, and otherwise will increase the exchange rate and created the parallel market and the black", so He stressed that the central bank "does not control Balaanaat for not originally responsibility for revenue, and you must understand this problem at the national level."
Keywords and said that "demand for the dollar analysis reveals the lack of a production base," pointing to "the existence of monetary policy, the dollar is pumped constantly puts pressure on the dinar required to provide to cover the expenses of fiscal policy."
"The ideal situation in any country is that the local revenues and operating expenses cover to make the required balance, but this can not be achieved."
He explained that "the Ministry of Finance spent about 54 trillion dinars in the first ten months of the year, while non-oil revenues amounted to 4 trillion, while the other does not exceed the real revenues include taxes and other trillion dinars."
He revealed the Iraqi central bank governor during the seminar that "80 percent of banks experiencing problems and are unable to provide financial liquidity required", declaring that "the Central decided fined for violating the instructions, and was a big fines built on as profits from these operations to exceed 400 billion dinars."
It did not lose sight of the reference to "the existence of suspicions in some banking transactions related to money laundering," stressing that "This case dealt with according to the law."
He explained that "Iraq today is suffering from the problem of vibration global banks, which is now dealing with caution and with a limited number of Iraqi banks confidence", stressing that "what is needed is to maintain international confidence."
Keywords He said that "restrictions on the sale of currency means parallel events and market speculation and fraud and blackmail, so you should not do so on the central".
He announced "activate the work of anti-money laundering and banking supervision office and give them financial and administrative independence," pointing to "make great efforts to prepare a law to combat money laundering, which was approved, which is in line with international frameworks and the Organization of FATF, as Iraq was about to enter the blacklist if it did not approve ".
He described the former Planning Minister Mehdi al-Hafez economic situation in Iraq as "very difficult", as a result of falling oil prices. He believed that this "is reflected in the central bank as a basis part of the economic system."
http://altaghier.tv/2015/12/13/%D8%A7%D ... %84%D8%A3/
PlatinumRunway: Just heard from my WM that preparation will start tomorrow for some individuals to come in to start the process, he did not say exchange.
Nikki6144: platinum thx for info! Did WM call you today and tell you that or was that on a regular bank day (yesterday or Friday)
PlatinumRunway: Nikki he called today this morning. He was getting prepared for all next week.
JNver99999999: Treat as Rumor: I have a source who says a certain bank will start exchanging tomorrow, Monday, Dec 14. I hope that is true….. It could be as Platinum is saying, that preparations for the exchange will start tomorrow. That is why I am treating as Rumor. Things are always subject to change when it comes to the Dinar and Currency Revaluations.
okrocks : Ray stated he cannot confirm that the lower LDs are out, but it was on their TV screen & he has not confirmed with anyone over there yet if they did indeed go out
ecubucs : That's correct okrocks... got the same message yesterday afternoon from contact out of Baghdad. CBI telling via iraqi TV that LDs are about to come out to All citizens.
Dansmor : ecubucs... okay thank you, that is great news to boot I would say, one step closer for sure
ecubucs : Yes Sir it is! There are still a few signatures that will have to be signed prior to this being released to the world. I don't see the LD's being released until those releases are given. Still VERY close from all camps.
Rayren98: Formula For Lifetime Monthly Income
Contributed by member Red
Formula For Lifetime Monthly Income
The below formula is used to determine how much you have to invest at 3% return on your investment in order to get receive $10,000 per month without ever touching your principal. For a different amount per month, put that amount in place of the $10,000.
$10,000 The amount you want monthly
$4,320,000 The amount you have to invest.
$4,320,000 @ 3% yields $129,600/12 = $10,800
$4,320,000 @ 4% yields $172,800/12 = $14,400
This is just an example.....don't try to tear it apart.
firefly Article quote:
"Governor Ali al-allaq said in March that the new Bank is that the auction is no longer a daily window for sell by auction, noting that new mechanisms developed to sell the currency, particularly the functional currency of the foreign trade." the discontinuation of the daily currency auctions...Must happen.
The only thing I'm looking at is the Auctions...PERIOD, END OF STORY. Nothing else matters...The auctions are for buying the USD. They have to get the USD off the streets! No way around it.
When it is completely halted...then IMO we should be expecting the LDs to hit the streets as well. I'm pretty pumped to tell u the truth.
[could they give the citizens more purchasing power without going international immediately?]
wmawhite : The only way you or I or an Iraqi citizen can receive more purchasing power is for the costs of goods to decrease...go down in price...because Iraq imports 90% of their goods, an increase in the international value...will bring those prices down.
However, the IMF must give it's "Good House Keeping Seal of Approval" which is Article 8 first.
Without it the worlds financial institutions would probable avoid it.
There are many changes happening now monetarily in Iraq but IMO, as soon as the IMF offers the CBI Article 8, the CBI will make the jump and with it we will start to see the true value of the IQD appear outside of Iraq.