Because of the instructions of the Central Bank .. Iraqi passports for rent!
Created on Wednesday, 05 June / June 2013 09:25. | |Baghdad / Orr News
Said banking sources and citizens about the arrival of rental price passport Iraqi one to 25 thousand dinars, after he launched the CBI instructed to a number of government and private banks to sell the U.S. dollar for the citizens directly as the right of the citizen and, according to bank instructions to buy $ 5,000 to bring him his passport stamped by the bank and arrested the amount in dollars compared to 119.000 thousand dinars per $ 100.
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The equation is simple citizen buys $ 5,000 from the bank Iraqi allowance of $ 5,950,000 five million, nine hundred and fifty thousand dinars and sell it outside the bank 6,450,000 six million, four hundred and fifty thousand, a net profit of $ (half a million Iraqi dinars).
Sources say that the managers and staff of the banks and in collaboration with brokers outside the bank collecting passports of citizens and buy the currency and stamp the passport and returned to its owner for an amount of 25 thousand dinars for each passport, and so the profit (half a million dinars for the passport per share) multiplied by the number of passports distributed on the broker and the employee and Director .
According to one of the workers in this field, the (profit is better than God). He adds: The Director's share up to 9 million dinars per day. In spite of this public corruption remains CBI trying to reduce the fluctuation of currency and maintain the dinar value against the dollar .. LINK
BlueyesinLevis: They have been draining the entire country, and Iran and Syria of IQD for quite some time.... the stage is set.. the cast is in the wings... time to raise the curatain and start the show... 'cause you guys AINT funny no mo.
Punisher:...but how do we know that Iran and Syria don't have hundreds of millions of IQD still...truth is we don't.
BlueyesinLevis: A good friend of mine has hundreds of millions of IQD. Gather the right 10 people on this board together and they have hundreds of millions of IQD. Joeg brags about buying more once a week. That aint enought to worry the IMF /PTB over.
At some point... enough has to be enough. And ... it must be taken into account..
the USD Iraq is selling into their economy is part of thier reserves.. and the plan is to gather it all back in once the change happens.... up to now the tradeoff of gathering in terrorist held IQD for lost USD is a WIN /LOSE situation...
but letting a boatload of it escape to Iran and Syria.. and OUT of the iraqi economy... at some point.. becomes a LOSE/ LOSE situation... especially if the counterfeit problem is as bad as we think it might be.
I truly believe we are at the point of saturation... nearly full dollarization... and it is time to pull the trigger... and the intersection of many, many variables is at hand.
ZenMav: I agree Blue. Sure seems like its time to fish or cut bait on this dinar thing.
Punisher: I see your point Blueyesinlevis.
Tobyboy: Blue I also agree we are at point of saturation they have to be at least 95% dollarization. i have added up auction April & May ( April $3,502,525,000 )( May $4,864,274,000 ) Total 2 months was $8,366,799,000 dollars of which cash totals $2,292,205,000 for 2 mos.
The dinars would equate to 9.6 Trillion turned in to CBI granted this is cash & electronic figures. But this is still a lot of dinars just 2 mos They have to be running out of dinars in the streets. So will be interesting to see what Turki is going to do, As I said before I not sure of Turki which side of fence he is on.
Have a bad feeling about him hope I am wrong. We should see very shortly if not look for Iraq be completely out of control taking years to correct. JMHO
Bigbadassdog: I agree ZenMav we've all been accustomed to watching what we say in America anymore that everyone is afraid to say any thing anymore that might offend anyone. I'm not one of them .
I don't care if your a guy or a gal get over it. Grow a backnone . Ladies isn't that what ERA was all about? Nobody on this forum meant any harm. It was all in context.. My God people....
BlueyesinLevis: "if not, look for Iraq be completely out of control taking years to correct" Tobyboy
Mt pet peeve is... predicting and projecting many months or years out. There is no way to know.
If we pass July 1st.. that does not in and of itself mean that this investment will not pay off for many years. It could happen by the float up to a buck by January 1st.. like we saw Shabibi attempt last year.
There are WAY too many variables.. and it does a dis-service to the board to make dire predictions of which we have no real knowledge. JMHO
I am not telling people what to post.. just trying to help keep the course steady... staying off the peaks and out of the valleys... hoping as we all wait together.. we can provide each other some stability and take this thing week by week.... instead of giving voice to our fears. ~ Blue
Darjohn: Blue, love to read your posts !!! Seems like a lot of heat going on here !!! with all the work Bob, Kap, T-Girl @ Ellie do I hope this site does not go down, so many have in the past 9 years . Just my 2 rupies, from across the pond !!
Timsters: well there has been no auctions for 3 days now. and you kids stop fighting
Darjohn: Announcement No. (2394)They are back, looks like no changes-zero-notta. Same old same old. 251 Mill. today !!
The latest daily currency auction was held in the Central Bank of Iraq on the 6-Jun-2013. The results were as follows:
Number of banks 23
Auction price selling dinar / US
Auction price buying dinar / US
Amount sold at auction price (US$) 251,918,000
Amount purchased at Auction price (US$) -----
Total offers for buying (US$) 251,918,000
Total offers for selling (US$) -----
Bye The Sea: Agreed Blue....as I said on another thread on this Board, if Maliki was truly what he is accused of, then why didn't he allow a Rv of $1 dollar when Iran was at the height of their Dinar holdings? Iraq would have owed Iran trillions.
Nevermind the counterfeit Dinar printing shops, just cash in actual holdings which Iran held. Months prior to an Rv Maliki could have easily sent a signal to Mr. Ahmadinejad to buy as many Dinar as you can, because I am going to allow a one dollar Rv. Why didn't Maliki do it?
Something else that we may not see is obviously happening. I am not sure this mess is over by any means, and it is possible we are here for a good while longer. Darn it.
Tlar: Maliki has every reason to not do an RV. Iran can't counterfeit the new currency assuming its the 3 language notes. Iran will see its trade reduced because their currency has all but collapsed while under an RV, Iraq's currency rises dramatically.
Maliki wants to keep his people down so that the citizens of Iran will think they don't have it so bad and revolt against their leaders. Maliki knows its easier to control his country if his country has to come to him to get money to exist. He doles out the money.
There are many, many reasons why a jerk off like Maliki does not want to see progress with the economy or the currency. With a currency that has value, comes investment and activity, which in turn empowers the people.
An empowered people sooner or later become knowledgeable of their surroundings and the political process. They aspire to learn and have greater education and involvement.
Maliki has shown he hates anyone that is educated and performs. The thought process becomes more lofty with an educated masses. Some of you will not like what I will say next as a generalization of an impoverished people.
Poor people generally are more interested in getting subsistence from their government. They pay less attention to the politics they live under and generally do not have the education or desire to understand what's really going on in their government.
They tend not to be up on current events because they don't follow the news on television or read newspapers and most do not want to be bothered with the details. Their philosophy is generally, just give me mine.
Most feel disenfranchised from the system and tend to be followers choosing slogans over substance.
These people are easy to control and with the proper urging will show up at the polls and vote for the candidate dependent on how much they believe that candidate give them and how much they will receive from the state.
Maliki depends on these kinds of people and through recent actions by him he hopes to gain a majority. He will try for a third term. Even though he has been a total obstacle for the betterment of these people, he thinks he can quickly make a few promises and get them to vote for him again in December.
OK. Everyone take your shot. This is a characterization by me of the masses of poor people, not a description of any specific individual. We all know their are exceptions. Those who pull themselves up by their boot straps and out of poverty. You won't hurt my feelings. Maybe you can convince me otherwise.
Thor: tlar: your description sounds familiar to the last US election
Captainstrikedown: Generalizations can be misleading and sometimes dangerous. We often forget that other than poor people expect or accept assistance from the government - like big oil companies, corportate farmers, etc.
Roughly 50% of US students receive some form of financial aid. Not all of these students are poor. For anyone who comment on the psyhe of a group of people, I would ask, what are your credentials?
Have you lived among them? studied them? Or become knowledgeable by reading the accounts of unbiased scholars who have undertaken such studies. Let's be real.
Many of us are experts in certain fields of endeavor, but would benefit from learning more about other situations from either personal experience or objective research.
Bye The Sea: Apparently my point was missed, and I wasn't clear on what Maliki could have done. No worries Mr. Tlar, thank you for your comments anyway.
Punisher: bye the sea, I see your point...
Bigion: tlar, i agree with you completely...well said.
Tlar: Well said captainstrike. You did not change my mind from a life long observation from both sides of this issue though. I was born poor and came to realize the value of ambition unlike so many of my early friends.
I will say I respect your point of view because in directly you have generalized your comment about my opinion, as a unlearned non credential opinion.
It is, if you remove or dismiss all life experience from your observation about my opinion. By that measure no opinion is valid unless you have studied the subject by reading about it and getting credentials.
I guess a sociology or anthropology degree with a minor in phycology might give me credentials that would be found valid by you to validate such an opinion.. I would be interested in your opinion to know if this combination or some other would be more appropriate to that might lend more validity to my opinion.
I have read no books on this subject nor have I spent years studying this but rather my opinion stems from lifelong observations of both close friends and acquaintances thrown in with a spattering of an understanding of human nature.
I have made a leap of faith to my conclusion, that my observations of individual people could be also be applied to people everywhere, irrespective of race, religion or gender. My opinion on human nature does not intentionally try to brand any group in particular, but is intended to conclude that there exists a herd mentality if you get enough of these like people together.
I used my lifetime observations to describe a behavior that I guess only I have identified, and that admittedly that you have not. I will revisit my observations to see if I feel they are still valid.
I'm sure they are not entirely accurate but then they weren't meant to be entirely accurate. They were meant as my opinion only, and as you and I differ on these kinds of subjects concerning what is politically correct speech or thinking, I respect your right to disagree. Respectfully, Tlar
Sherry: I also agree tlar
Timsters: tlar so whats the diffrence if the people of iraq have US dollar or the new iqd both =the same and not only that the people are making a pretty good profit selling the USD to the irainians.
im just saying if the country has been dollerized knowing the value of the usd if the NID COMES OUT = THE SAME AS WHAT THEY ARE HOLDING NOW whats the diffrence as to how wealthy they become
unless they get a better paying job there pay will still = the same as they are making now.
so the people are really not going to benifit from the NID unless they have millions of old iqd and they move out of the country ..a dinar is a dinar .. a 1 dollar bill is still a 1 dollar bill to us and them .
imo to stop iran and keep them under sanctions the un will let the new iqd come into play just to stop iran from benifitting from all the usd being pumped into the country. hope im making some kind of sence .
Lewis: Excuse me, correct me if I'm wrong: there isn't any news out of the CBI since the start of this month, right? In the month of May they said that early June they were going to start with procedures to bring it back to the USD. We haven't seen anything as yet.
Carrello: Timster, the long-term benefit Iraqis will have will come from the implementation of the tarifs, which will encourage new development and jobs within Iraq, and also when the international community feels confident to invest and take their profits out of Iraq.
The begining of long-term prosperity is where the profit is for the lower and middle class of Iraqi people IMO.
Tlar: Timsters, What Carrello just said.
Wgw242: tlar like you I come from a poor backround. I believe everybody in this country, used to have a shot at success.
Unfortunately big government is not interested in peoples success unless they are controlling it.
So for many, it is easier to just vote for who will give them the most, vs. working 60-70 hours a week inspite of the burdensome regulations to become a success. Iraqi's are no different than any other culture. They have been promised a major handout and believe that Maliki will provide it.
Only a strong and positive government that allows democracy and capitalism to work will change how they think. They, like this country in the past, will allow hard work to create success for those who work at it.
The rest will vote in politicians who with their handouts will keep them happy until the balance of power eats up the country like so many other countries of this world. JMHO
Punisher: Could end up being just another empty promise.
Tlar: wgw242, you are speaking about human nature. As I said, it not about race religion or gender. It's about behavior. My father had a statement that as I got older I began to understand.
He used to say, "people become more like themselves, the older they get". To me this says that it is very difficult for any individual to break his cycles and make a change.
They just get more like themselves with age. A bitter man becomes more bitter. A racist becomes more racist, and so on and so on. It's extremely hard to break the cycle. The older I have gotten I've come to believe deeper in the things I believed when I was young.
You can call this another name, I'm getting set in my ways. I believe this is true of human nature. I also believe that it can be transferred from father to son or father to daughter only to repeat the cycle all over again. IMO understanding some facet of human nature will make you a better witness to your surroundings but most of all it will mold your opinions. I'll get off my soap box now.
Lewis: I'm afraid so Punisher. We're entering the 2nd. week now we'll see.
Kaperoni: What are you expecting to see? The CBI has already started as they said. These articles had nothing to do with a RV...it has to do with the bank rate/black market rate (about 120 dinar difference). This has nothing to do with us, nor will we see any benefit.
If they are successful, we will see the auctions come back down to normal levels and hopefully a street rate of about 1180-1240.
Lewis: Thx. Kap. Well, Truthfully I didn't know what to expect. I guess even the CBI is in a wait to see mode,uh
Punisher: That is what I'm talking about, not an rv or float...we are now going on day 7 in Iraq.
PART ONE LINK