Article #2 Begins
SELLING THE CURRENCY WILL NOT CLOSE THE WINDOW IN THE CENTRAL AND WILL NOT PRINT THE CURRENCY AS THE FORMER REGIME
Said Governor of the Central Bank of Iraq on the Keywords that he is not ready to close the sale of the currency, which raised around a lot of controversy after being confronted by the central bank charges of mismanagement as a result of adoption of this mechanism in the currency exchange window.
It also accused private banks as exploited for smuggling and money laundering.
Keywords and said while attending a panel discussion about the central policy and integrity in the presence of a personal political and economic "It surprised by the statements objected to the sale of foreign currency to citizens by the central bank window fact that Iraq imports dollar and expenditures of state and local currency which requires the central bank to sell dollars to get the local currency to meet the expenses of the State and the dollar can be described with the commodity needed by the citizen and obtained from legitimate outlets and simply as stipulated in the Central Bank of the laws.
"He Keywords that" many of the measures taken by the Central Bank to control the movement of funds and monitor their movements and their sources and address the mistakes of the past that.
"and the relationships that only 20% of State expenses in dollars, a foreign expenses for debt and imports ministries and the rest in local currency, revealing the central bank governor that in this year and reached the hypocrisy of the state to 54 trillion dinars, the volume of non-oil imports of which were three trillion local currency and the remaining oil imports in dollars was sold in the local Alasouk to bring Currency local.
As ills Keywords reason for his refusal to close the sale currency window to reality requirements as described Keywords said "the central bank has no dominance to sell the currency, but rather imposed by reality, and sales volume depends on the size of the request of the State of the local currency, and that the mechanism adopted for the implementation of the Bank's policy Central, which provides cash to curb inflation and to control the exchange rate.
With respect to waive the cash reserve with the central bank and media excitement chasing this thing, this Keywords reject al-Qaeda and said that this proposal due to lack of awareness and knowledge of the Iraqi Central policy and between the funds in the central has not reserves but it is a balance of foreign currency paid the local currency and said it flexible monetary mass fall when demand for the dollar and rise when demand for the dollar decline.
Keywords and said that the study released by the International Monetary Fund predicted the rise of the Central stock of hard currency in 2020 to $ 91 billion the fact that Iraq's imports will rise in the next stage.
In response to a Question face of the hanger on the identification of a specific timeframe to close the currency sale of dollars in the central bank window replied, "that he once available other outlets to provide the dollar in the domestic market such as remittances from the outside to the inside or the export of goods or attract investment that will cover the market need of hard currency will close sales window.
Preparations for the central bank to avoid a financial crisis caused by low oil prices in the event of continued decline and if the central resort to printing currency also work in the nineties of the last century the days of the imposition of international sanctions on Iraq and the resort of the former regime to print currency? Keywords that procedure flatly refused and said the central bank laws prohibiting printed currency in this way.
Article #2 Ends
Article #3 Begins
INTERNATIONAL EXPERIENCES HAVE PROVED SUCCESSFUL IN CHANGING THEIR NATIONAL CURRENCIES
BAGHDAD - Imad emirate
There are many goals that can be achieved as a result of changing the currency of any deletion of zeros, including the promotion of confidence currency at home and abroad and re-standing regional and international her, and facilitate currency conversion to other currencies process, the heart of the direction of the currency of foreign currencies to local currencies, excluding banknotes high figures and low-value, as well as put Sticky inflationary expectations and currency management reform and re-structure their categories.
This is what academic d. Abdul-Hussein Ghalibi from the Faculty of Management and Economics at the University of Kufa: Several countries proceeded to change its currency several reasons, and this Germany states that hyperinflation played a role in raising prices to levels not known before in its history as the State proceeded to finance public expenditures for Trbak Securities cash mark which led to the development of inflationary waves from day to day and even from hour to the other with great force.
resorted German government in 1923 to a new currency issue is Rantmark equivalent Elf billion mark, and the next year, the government issued a new currency named the Reich Mark to replace Rantmark one by one, but the difference is that the second was not capable of exchange with gold.
He Ghalibi in an interview for »Sabah»: The Reich Mark characterized this feature was pulled Rantmark of trading in 1948 and was re-mark the issuance and continued to deal until 2002, when the euro, which is released the fourth-largest international reserve currency, where Germany has been at the forefront of leading EU countries.
He then comes the State of Bolivia, which was characterized by historically political coups and economic collapses, explaining she did this state during the sixties of the last century to replace its currency Bolivian was changing its name to the peso at a rate of 1000 thousand bolivianos versus the peso, and the reason is the low value of the Bolivian, and continued inflation escalate where the dollar exchange rate in 1963 is equal to 6.11 pesos and in 1972 came to 20 pesos, and in 1979 he continued his downward fast as it arrived in the dollar price per one million pesos in 1985 then to 2 million in 1986, and after conducting economic reforms stabilized the exchange rate at 8.1 and 9.1 million pesos in the same year was issued the new currency the old in its name any replacement of every one million million pesos and one unit of the new currency, called Bs.
He Ghalibi that the political and economic conditions experienced by the Sudan was one of the main payment factors to change the Sudanese currency issued for the first time in 1957 on behalf of the pound, which lasted into circulation until 1991 as it was replacing the currency and change its name to the dinar, so that every dinar equivalent of ten pounds.
In 2006 and based on political agreements between the Sudanese transitional movements Central Bank of Sudan adopted a program for the issuance of a new currency during the transitional period under the Sterling name to replace the dinar by 1 pound equivalent to 100 dinars.
The most important question is whether that Iraq needs to change its currency? This is what we will leave for discussion at a later topics.
Article #3 Ends
[Update: Nori al -Maliki Saga]
Today I am presenting you with an article that tells us that yet another nail has been hammered in the final coffin of Nori-al Maliki for his corruption. In the suit for court error a decision was rendered to dismiss the claim from the Judicial Courts. Will it now go to the Administrative Courts?
Go pound sand Najafi and Maliki….lol….
I quote directly from the article– “Federal Court has proven Council of Ministers' decision to cancel the posts of Vice-President of the Republic received a lawsuit Osama Najafi, it said in a decision that "the scrutiny and deliberation of the Federal Supreme Court found that the Prosecutor's appeal against the decision of the House of Representatives adopted Minutes numbered (10) in the ratification of the 08/11/2015 Cabinet decision taken in the session numbered 307 08/09/2015 to cancel the position of his client Vice President claiming breach of the Constitution and laws, and to provide the conditions challenged the unconstitutionality of the resolution. "
FEDERAL COURT ABOLISH THE POSTS OF VICE PRESIDENT OF IRAQ
Abdul Jabbar Zebra
Iraqi Supreme Federal Court dismissed the case made by Osama Najafi, former Vice President of the Republic, saying the health of the House of Representatives who supported the action by the Prime Minister Haider al-Abadi cancel the positions of the three deputies infallible decision.
At a time when Mahtjo Iraq expressed his satisfaction with the decision of the Federal Court that proved Council of Ministers' decision to cancel the posts of Vice-President of the Republic, where received so suit Osama Najafi, who demanded the cancellation of the decision and brought back to the office where cross Iraqi judge was surprised that the Vice President did not know to state Court offers his claim, noting that sue to the Federal Court is a big mistake and that it was provided to the Administrative Court.
Suit for court error
Judge Abdul Rahman Mohammed Rahi he stressed, saying: Vice President Osama Najafi made the request to the wrong court, a right and submit it to the Administrative Court of the Federal Court because they are competent to do so.
He said: What is issued by the Federal Court it is only judicial proceedings .. He continued: decision for form and not substance means the Vice President of the Republic remain in office until the Administrative Court control, so it has to be to provide the House of Representatives their objections again.
Decision to dismiss the claim
Federal Court has proven Council of Ministers' decision to cancel the posts of Vice-President of the Republic received a lawsuit Osama Najafi, it said in a decision that "the scrutiny and deliberation of the Federal Supreme Court found that the Prosecutor's appeal against the decision of the House of Representatives adopted Minutes numbered (10) in the ratification of the 08/11/2015 Cabinet decision taken in the session numbered 307 08/09/2015 to cancel the position of his client Vice President claiming breach of the Constitution and laws, and to provide the conditions challenged the unconstitutionality of the resolution. "
He added: "The prosecutor established his claim before this court as a vice president in addition to his job, and that's where the third person the Prime Minister, in addition to his job that the cancellation did not comment on the House of Representatives authentication and implemented immediately," noting that "the plaintiff may have functional called on decision Council of Ministers dated 0/8/2015. "
He continued: "It is not valid before him in this case, not the defendant in addition to his job nor the third person the Prime Minister in addition to his job Balsafh where the suit established and cited by the prosecution in the request for the introduction of the third person intervention Achtsamaa," pointing out that "the loss of this lawsuit for corroboration From the legal point of antagonism shall be due reply. "
According to the resolution, "the referee decided to answer the plaintiff's claim" Osama Abdul Aziz Najafi "from the point of antagonism and loading expenses and attorneys' fees The agents of the defendant and the Under the third person, and of one hundred thousand dinars, distributed them in half, take out the third person President of the Republic in addition to his job that had been introduced for clarification and the decision was made a majority on 11.24.2015. "
Protesters feel comfortable
So protesters hair on the usefulness of their protests, and said in comments to them on the social networking site Facebook: those who say no point in demonstrations !, the Federal Court dismissed the lawsuit filed by Osama Najafi, demanding his return with his peers as Vice-President of the Republic, and proved our protests approach to health, citing This decision confirms that the demonstrations have their usefulness and they Sagtefon fruits as long as they have planted even tomorrow to sight a close.
A number of protesters that the ongoing demonstrations led to incorrect results as it is not as seen by some useless promised the decision a victory for their goals, stressing they communicate in their protests in demonstrations and raising them to the slogan (continuing) and (Juma behind Juma and
corrupt Ntalaah) that Taathhak all the legitimate demands Elimination of corruption and the corrupt
[Beginning of Questions and Answers]
Question: Kathy Gee - with the news of postponing the 50k notes, will this affect the reconciliation conference and the 2016 budget passing before there new year? I didn't think they wanted to start off the their new year like they did last year. How far ahead is their calendar from ours?
Answer: As far as I know the targets remain the same. The CBI has been taking hear from everyone in the launching of the 50k notes and I believe this halting is just temporary while they go back and study the next step(s) going forward. Don’t jump to premature assumptions. Its not going to be every over until they get the RV and now is the time. They will endure and continue to plug away at it until they are successful in their plan. The final result may come later than sooner but it will come. Be patient!
The symposium held over the weekend was not coincidental. It was the CBI reaching out for advice and help in this matter of currency reform. They sought out world renown experts in the field that have worked with other countries so there is a solution. You know now also they are studying the monetary process taken in Germany, Bolivia and Sedan.
End of Questions and Answers
I will address questions only one more time in this news letter. So if you have any questions related to this news letter today please feel free to address them in Dinar Recaps and George will forwarded them to me. Thanks for all you great questions so far and I wish this is being helpful. But please read my news letters carefully first before asking the question. It may already be addressed.
[Update: Fighting ISIS]
One more item today:
Let’s not forget to keep praying for the success of THESE IRAQI AND COALITION SOLDIERS. I believe their success is in part some of the acceleration of the process we are now witnessing.
Thank You TJP –
“Lord, protect Abadi and all who stand with him in righteousness, the Iraq and Coalition Soldiers who are fighting the good fight against terrorism, that they would be shielded from the enemy and would be Victorious against them! We ask that the Victory comes swiftly and healing of the Iraqi peoples and all whom have been effected by these evil doers can begin! Amen!
All these prayers seem to be working.”
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,