[BondLady] good morning everyone , lets take a look at whats going on. This article is from Player46's afternoon news thread , thank you Player:
Dozens of citizens gathered in front of the private banks in order to buy the dollar and ending gatherings always and then the intervention of security forces to unseal. These daily incidents prompted the owners of a number of banks and money experts to organize a conference to develop solutions in order to keep the exchange rate of the dinar. does not differentiate them time morning or evening since the early morning hours Atgmehr many people in front of private banks in order to buy dollar.
tangle with hands and knives is the case of those gatherings that always end the intervention of security forces to unseal. says a citizen of the Sumerian News: Hsieh 3 hours and a half morning came we buy dollars from the bank
Read More Link On Right
and says another: I am Jay Hilla Almoud Buy the dollar and I go Avert because he Mako served there I He worked his workers add a citizens: Najib dollars and spend and Nstvad of profit Malth this situation citizenship Iraqi Next kit those scenes and others pushed the owners of a number of these banks to organize a conference to develop solutions and treatments in order to keep the dinar exchange rate and do not let inconsistent financial, loaded with the Central Bank the responsibility of the low exchange rate of the dinar against the dollar.
draws Hossam Abdul Ali, chairman of the Board of Directors one private banks: the Hai adjective for each official is a specialized banking business, therefore the central bank is responsible first and last all Alirhasat that occur in the Iraqi economy and continues Mounir al-Jubouri, chairman of one Private banks: unfortunately,
the central bank did not hear the views of private banks and always considered himself is responsible for the administration of those private banks like we staff with him and guide us how he likes financial experts who participated in the conference accused the groups associated with personalities government of being behind the instability of the dinar exchange rate warning the outbreak of financial crisis in the event of lack of control over the financial market.
According to financial expert Majid picture: There are mafias large linked personalities them leverage the power of the Iraqi interest Hoalhsol and benefit from trade in hard currency dollar attached financial expert Hussein Allawi said: in the event of aggravation and the continuing high price of the dollar against the dinar may significantly affect the will, so it is essential that there be a change in the policies of the central bank is buying dollars for domestic banks and government during daily sessions for the sale and purchase of foreign currency held by the Iraqi Central Bank,
which is supposed to fund the traders from the private sector or for those wishing to tourism Awaldrash the outside of the country, but this is not what happens when those banks recorded a clear violation calculated on the instructions of the Central Bank LINK
[BondLady] people are going nuts over the high exchange of the dollar. When the dollar goes up the dinar goes down. They are having physical fights and altercations with their fists and knives and they are blocking the entrances of the bank and keeping people from doing banking business.
Each time securtiy has to be called to break them up. It's repeatedly happening. The people are extremely enraged at the high exchange rate of the dollar, what they are having to pay for it.
IMO this works well for us. The more pressure the CBI has on them to do something about the exchange rate of the dinar again works well for us IMO. KEEP THE PRESSURE ON PEOPLE, KEEP THE PRESSURE ON !
Reduction in the rate of the dinar up to 1,300 dinars per dollar
May 15, 2013
The price of the dollar in the domestic market, to 1,300 dinars, compared to 1220 dinars in mid-March last year and represents a significant reduction of the Iraqi dinar did not happen for more than two years.
known that the official price of the dollar until this day, according to Central Bank of Iraq is 1166 dinars means that the Iraqi dinar has price more than 11 percent.
According to representatives of all of Iraq [where] has led the decline to higher prices for many goods in Alasouk especially imported from abroad. The central bank has promised to take measures to lift and install the dinar as it was in the past, but the deterioration of dinar continued for up to 1,300 dinars per dollar.
complain employees and retirees who receive their salaries in dinars from the high cost of living and salaries are no longer sufficient to meet their needs and that the rise in prices has included real estate and rentals as well as transportation, food and clothing.
Many believe that the growing demand to buy the dollar This has led to a significant drop in the price of the dinar. And attribute this to smuggle most of what offered by the central bank a day of dollars to Syria and Iran, which to the siege of Mali and they need increasingly to hard currency. announced the Central Bank of Iraq before Fenrh short new procedures limit the availability of the U.S. currency in markets where demand to buy them, amid suspicions suggest smuggling large amounts of hard currency in Iraq for neighboring countries.
issued the CBI, new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies select the stakes weekly for banks and money transfer companies and trading firms currency from the dollar is estimated according to the capital of each of them, and we will increase and decrease the share compared to the commitment of all of them deliver the amounts they want customers from citizens.
goes observers exchange market in Iraq to the smuggling of large quantities of dollar located in Iraq for Syria and Iran, both of which suffered international sanctions caused scarcity of hard currency, and it has one of the most important reasons for the increase demand for the dollar Iraq, and therefore decline Iraqi dinar exchange rate.
and baptizing the central bank to put the dollar at an auction for the sale of foreign currency at subsidized prices and the lowest of the exchange rate real in the market to support the dinar.
" and observers fear of stopping the CBI those auctions and then multiply the value of the dollar against the dinar " .
According to the latest bulletin of the Central Bank for auction sale and purchase of foreign currency Monday May 13 the bank sold 223 million and 177 thousand dollars compared to 196 million and 704 thousand dollars on Sunday, a stable exchange rate was 1166 dinars per dollar.
facing the central bank charges to staff it in conjunction with officials in state corruption Baalmyat and smuggling of currency and the bank is currently undergoing to Thviqat the longer the former director Sinan al-Shabibi, who left Iraq several months ago and no longer fear of arrest according to the warrant. LINK
[BondLady] We don't know if they are actually taking it to 1120 or 1 to 1 or RV per this quote *** "The central bank has promised to take measures to lift and install the dinar as it was in the past"**** again heres the link
[tlm724] imo to "lift" means increase the value of the IQD and to "install" means to make it THE currency used in Iraq with a value greater then a dollar thus allowing for quick de-dollarization. Bring out the new ld's and they will be all set.
[BondLady] hey look at this. I'm still doing my news searches and many of the sites I go to also show the exchange rates usd per iqd this is the only one so far that showed this, look at very top :
Najaf Date and Time 1 USD = 1156.00 IQD LINK
[BondLady] thats 10 pips. Like I said this is the only news site so far I have seen this on, none on the rest of the sites.
[BondLady] like I said one out of about 10 news sites I have been on so far and we don't know what the CBI's plan is. We just have to wait until tomorrow to know for sure per the CBI . It's been a programmed rate so far except for the little 4 pips shabs did to curb inflation. Maybe just maybe they came off the programmed rate and if thats true then its all good
[tlm724] yes !!
[BondLady] I'm with shredd though, a pip free float won't make them stop using USD
[tlm724] Yes, need something more drastic and a nice new clean currency
[BondLady] and won't make them fall back in love with their own currency, only a straight up rv will do that. They made them fall in love with the dollar to let the dinar exchange rate slow grow , now they have to reverse all that damage that helped them build up the rate and reserves before now, they have to fix it
[tlm724] well they sure did make a boatload of money, 74 billion !
[BondLady] let me show you one more thing. You see all the mafia articles per sale of the USD ?
[tlm724] yes and thank you
[BondLady] See the reason they haven't already RV'd IMO is they are making a huge killing and fortune selling dollars, huge huge huge ! To go from 40 billon dollars in reserves in like 4 years to 74 billon is staggering ! So look at this, kind of shows my point:
To the Committee on the economy: $ 40 million a day go to the pockets of gangs Friday, May 17 / May 2013 09:31 Twilight News / Rapporteur of the Commission predicted the economy and investment in the Chamber of Deputies, the continuation of the low exchange rate of the Iraqi dinar against the U.S. dollar. LINK
[BondLady] 40 millon buckaroos a day! You know how greedy they are, the rich keep getting richer and the poor keep getting poorer. Would you want to stop doing something that can net you that kind of profits daily? Would you want to do something that would stop all that?
[BondLady] um no you wouldn't if you are being honest. But when it comes to a breaking point, like it is now then you have to look at it like this: man it was a heck of a run for a hawt minute, now to do the right thing and help the poor and country to advance
And plunged the value of the Iraqi dinar gradually over the past weeks to reach the price per dollar to about 1129 dinars after it had been stable for 1120, the highest rate up to the exchange rate during the past two years.
He said Commission decision Mahma Khalil, for "Twilight News" that "the confusion that occurs in the low exchange rate of the Iraqi dinar against the dollar has a close relationship to the policy of the central bank and the location of the province."
He added that "the new governor is a purely digital background and financial follow-up only, and does not have any clear strategy to maintain the exchange rate of the Iraqi dinar.
" He pointed out that "the new governor implements government directives more than implement directives House of Representatives, and the reputation of the central bank was affected as a result of interventions last from the government, as well as the political climate of Iraq today became the atmosphere tense and unstable environment overshadowed all areas, and more areas affected by this policy unstable and crisis is the economy and the Iraqi dinar. "
The Finance Committee of the House of Representatives revealed, early last month, the start of the Iraqi Central Bank to take urgent action to preserve the stability of the exchange rate of the Iraqi dinar against the dollar by increasing outlets selling hard currency, but the value of the currency has continued to decline. It seems that confidence in Iraqi currency after a government decision to oust former Central Bank Governor Sinan al-Shabibi and tense security situation in an unprecedented manner during the past few weeks.
And saw Khalil said "the central bank failed in its policy, while his duty to maintain the exchange rate of the Iraqi dinar," returned "reforms carried out by the bank is not reform strategy drastic, so we expect that there is a decline last of the Iraqi dinar against the U.S. dollar as a result of these factors and this circumstances.
" He pointed out that "the goods enter the country in large quantities and dollar, and this is what the impact on the income of the Iraqi citizens, and that attempts by the bank to inject the dollar by some outlets is improper conduct."
He continued by saying, "Today the Iraqi dinar is covered in hard currency and sovereign balance reached $ 74 billion, and it is not permissible to increase the money supply of the state about 33 trillion dinars."
He explained that "the right of the Iraqi citizen that replaces the dinar to the dollar but the central bank's policy is a failed policy, and today there are shops banking and all these sums of money and coins go into the pockets of others, and daily losing public money, and the Iraqi citizens as a result of this policy more than 40 million dollars."
And between Khalil that "the exchange rate of the official to the dollar at the central bank is 1166 and there are 13 dinars commission to the bank, it becomes a figure in 1179 dinars per dollar, while in the Iraqi market local exceeded 1300 and this is not permissible, and all these figures and the differences in the exchange rate go into the pockets of brokers and clients and the Giants in the local market of Chirvien and influential politicians.
" He said "the Iraqi trader who is pivotal dealer, and deal with a lot of countries, including countries affected by the UN sanctions such as Iran and Syria, so the Iraqi trader binding to the pump and take out the hard currency to deal in this direction."
He went on to say "so and as a result the Iraqi political climate and instability, the Iraqi citizens have a desire to transfer their deposits to the dollar and do not put it to the Iraqi banks, because the Iraqi environment repulsive environment for hard currency and not attractive to them."
And increased Khalil "These factors are all consequences caused by the low exchange rate of the Iraqi dinar against the dollar, and the responsibility lies and rests with the Central Bank of Iraq, because central banks in all countries of the world and its primary function to maintain the exchange rate of the national currency, as well as the Bank of Iraq is committed to the policy of the executive Instead of his commitment to the policy of the legislature. "
He pointed out that "the rate of the dinar was stable during the presence of foreign troops in the country and during the non-interference of the government policy of the central bank, to note there are low and clear and continuous in the exchange rate of the dinar, which is tantamount to economic identity for all Iraqis."
Khalil continued that "the dinar does not know the quotas, so all binding to halt this deterioration in the exchange rate, and the House of Representatives shorted and deficient government and the central bank failed miserably in the policy of maintaining the exchange rate of the Iraqi dinar." LINK
[BondLady] see what I tried to explain?
[tlm724] yes, it's reached the point where decisive action needs to be takin NOW or their economy will tank and will fall like a house of cards
[marjans] tlm724 absolutely no other way out
[BondLady] keeping in mind all their trying to do right now, to bring in foreign investors and WTO and all the other stuff. Their currency stands before them as their country's economy and pride ! Time to man up Turki !!
[bullymomma] thank you
[tlm724] yes and thank you BondLady !!
[marjans] BondLady we love it and ty !
[BondLady] Your quite welcome and thank you