Central Bank: We strive for a balanced ratio of gold with hard currency reserves
Baghdad - and babysit - Central Bank of Iraq, for his quest to find a balanced ratio of gold with hard currency reserves, considering that whenever the reserve size increases less than the contribution of other components.
"the high bank reserves of hard currency leads to low gold and we are working to purchase to increase to maintain a balanced ratio of gold. "
[tlm724] Turki is showing us part of the CBI's policy here. They have a portfolio so to speak including the US dollar, the Euro and Pound.
When Iraq's hard reserves grow so must their gold holdings in order to maintain a ratio of 3 to 5 % thus keeping a steady balance between all holding.
Read Moe Link On Right
Center Economist: U.S. debt crisis would hurt the Iraqi economy in terms of lower world oil prices 20-10-2013 06:51 AM
[tlm724] 1.this is saying that by the US shutting down it decreases the income of the citizens thus reducing the demand of oil
[tlm724] 2. 50% of the worlds countries are linked to the USD including Iraq " including the economies of oil such as economics of Iraq"
[tlm724] 3. that the price of oil and the value of the Iraqi currency is linked to the price of the dollar in global markets
[rsp1] But...for how long?
[tlm724] so as the value of our dollar goes down it effects the value of the dinar
[tlm724] the Iraqi currency is linked to the price of the dollar in global markets and the stability of the price depends on the stability of U.S. markets
[tlm724] in addition to the damage to the value of the dollar and this will affect the Iraqi economy, especially as it is formatted at the present time to move to link a basket of currencies global difficulty of this approach and the strength of the impact of the dollar in the local market that Iraq of countries subject to the phenomenon of 'dollarization
[tlm724] rsp1 this is saying the IQD is directly linked to the USD
[sisterbreen] tlm724 this don't sound good
[tlm724] their stability at this time depends on our stability of the dollar
[tlm724] sisterbreen no , there is good in here
[tlm724] sisterbreen no we are not broke, we are the richest country in the world the problem lies here let me explain
[tlm724] as long as the IQD is linked to the dollar and the other currencies in the basket those currencies will fluctuate with the dollar
[tlm724] our actions in the US directly affect 50 % of the worlds economies
[tlm724] now how can Iraq regain control of their own currency ? How they can eliminate this fluctuation at least as far as the USD goes?
[tlm724] cybercat got it earlier
[rsp1] Detach from the USD
[tlm724] yes dedollarize !
[tlm724] so make the IQD the main currency, they agreed to use it in all payments international for all debt and payments remember ?
[rsp1] Yes, I do...
[sisterbreen] tlm724 yes
[rsp1] It would have to be internationally tradable
[tlm724] sisterbreen right so see this is very good news as far as our investment
[sisterbreen] tlm724 tyvm
[tlm724] rsp1 exactly !
[tlm724] sisterbreen yqw
Shara: Federal Council for Oil and gas needs to be a political consensus to machined 20-10-2013 11:24 AM
Baghdad (news) .. A member of the Commission on oil and energy MP / National Alliance / Furat al-Shara, the importance of the formation of the federal oil and gas to filter views and administrative matters and resolve technical issues between the government center and the region and local governments.
[rsp1] timmy, Wasn't there an article earlier that said that oil and gas is postponed until next session?
[tlm724] passage of the HCL will eliminate the majority of the issues between Kurdistan and Baghdad as well as the other oil producing provinces, it must be done
[tlm724] rsp1 these are different MP's from different blcoks giving their opinions as well making statements and communicating in the press
A member of the Parliamentary Committee on the economy is likely to lower rates of inflation and unemployment in the coming period 20-10-2013 12:34 PM
[tlm724] low rate of inflation, poverty and unemployment in the coming period significantly -- significantly in the coming period
[rsp1] Well, pass those laws and watch your economic activity flourish!!!
[tlm724] so they anticipate a much better forthcoming period as far as inflation, poverty etc due to the success of the CBI policy, now I like that !!
Imad Youkhana: Iraq, an important figure in the region and could contribute to a major role in solving their problems
BAGHDAD - and babysit - Aattabredo of Iraq's parliamentary bloc MP Imad Youkhana, that Iraq is an important figure in the region and could contribute to solving problems, pointing out that the interest of the United States to develop its cooperation with Baghdad.
[tlm724] the strategic framework agreement between Iraq and the United States form the backbone for extensive cooperation and relations in various fields between the two countries -- *mission* that's pretty darn exciting stuff if ya ask me
[tlm724] and I will bet their will a lot of interest in this agreement not just with us and them but other countries as well