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Wealthwatch Friday Afternoon Chat 1-15-16
OOTW: Tahrir Square protesters are demanding to finding solutions to the financial crisis By admin-mi The 15/01/2016 06:30 | Number of Views: 217font size: [Image: font_decrease.gif] [Image: font_enlarge.gif] [Image: thumbnail.php?file=NB_157024_63588459210...cle_medium]
Dozens of citizens, civilians and activists, on Friday, in Tahrir Square in central Baghdad to demand the government to find solutions to the financial crisis and lack of prejudice to the salaries of employees and retirees, while demonstrators stressed the need to hold accountable corrupt officials and implementation of further reforms.
The reporter said "the Iraqi position" in Baghdad, said that dozens of citizens and activists civilians staged, at noon today, a new demonstration in Tahrir Square, the center of the capital, noting that the demonstrators called on the government to find financial solutions to the crisis and support the national industry and not to prejudice the salaries of employees and retirees.
He added that the demonstrators editorial stressed the need to implement further reforms and to hold corrupt officials, pointing out that the event saw the participation of dozens of workers who demanded the rehabilitation of the Ministry of Industry and assisted companies.
The Baghdad and other provinces experiencing weekly mass demonstrations to protest against the rampant corruption in government institutions, and to demand accountability embezzlers and corrupt and the implementation of government reforms.
OOTW: Qabbanji: the religious authority and the people waiting for the application of serious reform By admin-mi The 15/01/2016 02:38 | Khatib stressed Juma Najaf, Sadr al-Din Qabbanji, on Friday, that the religious authority and the people waiting in the application of serious reform and detect corrupt and phantom projects, while calling for a review of security and intelligence plans in Baghdad and elsewhere.
OOTW: Said Qabbanji in Friday prayers held in Husseiniya Fatimid in Najaf, said that "the religious authority and the people are expecting serious in implementing the reform and disclosure of spoilers who stole Iraq and the disclosure of thousands of aliens and projects Phantom," explaining that "if it is detected spoilers to cut the road for the occurrence corruption and wore a huge sums of money to the people. "
OOTW: He Qabbanji, that "Daash Almhaglh process began after his defeat in Ramadi and Amdo bombing in Baghdad and Diyala," warning that "the bombings in the background lines to affect the progress of our troops in Ramadi, and Nineveh." He called Qabbanji, to "review the security and intelligence plans in Baghdad and elsewhere," praising the "military progress in the liberation of all the gray areas and prepare towards the liberalization of Nineveh and the uprooting of those germ planted in Iraq."
OOTW: HERE'S THIS FROM PUNISHER - TYVM!
OOTW: The application of the law of the fish: the issuance of large denomination threatens small 13:46:52 2016-01-15 | (Voice of Iraq) - After the Iraqi Central Bank to issue currency category (50) thousand dinars began increasing people's fears of extinction of small currency and rising prices again.
Talk | Baghdad surprised Mohamed Mahmoud as he takes on the monthly salary the existence of a new class of securities, a fifty-thousand Iraqi dinars category and that the Iraqi Central Bank announced its intention printed in atheist tenth of the month of November - last November.
OOTW: Mahmoud His high salary relatively believes in the existence of this currency makes it easier he carried his salary without draw attention to him, especially as he is forced to cut large walk of the government department in which it operates and even the place which leaves his car in it.
"I previously had to hide the salary black bags because the amount that Otzlmh relatively large presence of small groups of five thousand category or ten thousand is a danger some thing because pedestrians come to their notice my pregnancy a large amount of Mali while I came out of the circle, which makes me vulnerable to thieves, "says Mahmoud.
OOTW: But some believe that the new with the fifty thousand class paper would hurt a lot Boodall living like Ali Abdul Sattar, who works wages daily in the capital, Baghdad Secretariat. young man Ali, who receive a daily ten thousand Iraqi dinars allocated amount thousand dinars them to go back and forth from his home to the Secretariat building and vice versa
He fears that the freight rise in one of five hundred dinars to the road to the ground which means doubling the sum earmarked for transfer with expected drop in the daily wage to him, according to the approved by the government to reduce public expenditures, especially salaries and wages of its employees by three percent.
OOTW: NOTE - ABADI HELD A CRISIS CELL MEETING TWO DAYS AGO TO DISCUSS AND SUBSEQUENTLY ANNOUNCE THAT SALARIES AND PENSIONS WOULD NOT BE REDUCED
OOTW: In practical terms there is nothing to confirm fears but he cites the high transport fares from 250 dinars to 500 dinars when printed banknote with twenty-five thousand class a few years ago.
"We had coins of small categories with categories Coins (25) dinars and 100 dinars and no longer exists today basically," says Ali. disappearance of these currencies of daily trading means directly rise in the prices of cheap goods to the highest in turn affect the inflation index in the country, which would be its effects are clear to those with middle and low income mainly levels.
Valslah that were sold, for example, (250) dinars price could rise to (500) which means a decrease in the value of thousand dinars unit approximate to measure the prices in the local market to half (one thousand dinars, worth almost US $ 0.8). Central Bank of Iraq began distributing small quantities of the new currency on some state departments and some banks to gradually raise the amount even access to the volume scheduled .
OOTW: Economists and although they do not see a direct correlation between the issuance of large groups of currency and the decline in the value of small groups, but they reckon check the decline actually what they describe temperament Iraqi market and the consumer alike.
"The Iraqi market is not subject to the standards of their counterparts in the rest of the world is well known that the version of the big groups come to reduce the money supply, especially in the corporate, business and other segments of the large trading ".. says economic researcher Bassam As.
He adds as" there is a mood in the local market back consumer desire primarily to the reduction of the value of small groups in the case Large groups become current dramatically and this is what is difficult to explain, in fact.
OOTW: "According to the researcher himself, the solution is to keep large groups currencies for the enjoyment of its benefits in the big trade with the continuation of the Central Bank of Iraq in small groups issuing currency to keep it fresh in daily transactions and strengthened procedures for challenge of any expected price inflation.
The presence of cash and paper category (50) thousand dinars, equivalent to $ (42) US $ will facilitate daily trading in large trades by contributing significantly to the reduction of the money supply by almost half as the paper cash Top previously value was of category (25) thousand. While the continued issuance of small groups currencies will maintain the value of goods low prices and prevent high prices.
OOTW: SO THE INTRODUCTION OF THE 50K NOTES IS, AS WE KNOW, AN ATTEMPT TO DRAW IN NOTES
OOTW: The central bank for his part did not rule out the domestic market affected by the issuance of a new currency with the fifty thousand class therefore decided to postpone the issuance of currency with a hundred thousand dinars category approved by the former to avoid any inflation while the aim of the issuance of the fifty thousand class was reducing the size of the currency used in daily trading, which in turn led to the lifting of the rate of inflation, according to the announcement earlier in the bank's governor on the Keywords.
In all cases, the The new currency was issued and began to spread in the local market gradually as planned central bank is that the spread of caution reflects to some extent the concerns of traded currencies subject to fisheries law, which feared by middle and low income earners in case I ate big Currency small counterpart and was replaced in the local market.
OOTW: SO THERE IS STILL FEAR AND MISUNDERSTANDING AMONG AVERAGE CITIZENS ABOUT THE ISSUANCE OF THE 50K NOTES AND A SUGGESTION THAT THIS SHOULD HAVE BEEN POSTPONED TO AWAIT RELEASE OF THE 100K NOTES
OOTW: HOWEVER...THE AVERAGE PERSON WHO EARNS , SAY 10K DINAR PER DAY, WILL HAVE GREAT DIFFICULTY USING SUCH NOTES -
IT WAS BE MUCH MORE CONVENIENT FOR THESE PEOPLE TO BE USING SMALLER DENOMS
OOTW: THE INFERENCE IS THAT WHILE THE INTRODCTION OF LARGER NOTES WOULD IN EFFECT DRAW IN LOWER DENOMS, IT WOULD INCREASE INFLATION
OOTW: AND IS NOT CONVENIENT OR REALISTIC FOR THE AVERAGE CITIZEN
OOTW: AND THERE'S A RECOMMENDATION IN THIS ARTICLE TO POSTPONE THE PROJECT
OOTW: AT THE SAME TIME EXPLANING HOW IT WILL HELP
OOTW: SO YET AGAIN, WE HAVE ANOTHER ARTICLE RE THE 50K NOTES - BESPEAKING THE BENEFITS AND THE ISSUES
OOTW: THIS ARTICLE ALSO OUTLINES THE CURRENCY COULD BE USED FOR LARGER PURCHASES, BUT , AS WE'VE STATED HERE, IT WILL STILL SPREAD IN THE MARKET PLACE
OOTW: I MONITOR EBAY REGULARLY AS WELL AS A COUPLE OTHER DINAR SELLERS AND ONE DAY THE NOTES ARE WIDELY AVAILABLE, AND THEN NEXT I SEE ONLY ONE SELLER
Doug_W: OO do U think the Rial will have a big jump after sanctions are lifted
OOTW: HAS ANYONE PURCHASED ANY 50K NOTES? IF SO, CAN YOU GET IN TOUCH WITH ME AT WEALTHWATCH.WORLD@GMAIL.COM TYVM
OOTW: I WOULD NOT SPECULATE ON THIS - EXCEPT TO SAY THAT OUR RIAL THREAD STATES THAT THE CURRENT ECONOMIC CONDITIONS SUPPORT THE "REALISTIC" VALUE OF THE RIAL TO BE "3600 TO 1 USD OR LESS"
OOTW: THE RIAL HAS BEEN FLUCTUATING AROUND ABOUT 30K TO 1 USD
Doug_W: yes I know
Doug_W: we have a Rial room ?
OOTW: YES IT'S A FORUM / THREAD OOTW: LOL
Doug_W: umm what is a thread?
OOTW: HERE IS THE LINK TO OUR IRANIAN AND RIAL FORUM wealthwatch.world/forumdi...
OOTW: YOU MUST BE A REGISTERED MEMBER TO VIEW
Doug_W: is that like one long comments?
OOTW: HERE IS THE LINK TO REGISTER wealthwatch.world/member....
Doug_W: so my membership where is not enuff?
OOTW: THE IRAN FORUM IS DIVIDED INTO SECTIONS AND YES PEOPLE SHOULD GO TO THE LAST PAGES TO VIEW THE MOST RECENT COMMENTS
Doug_W: ok ty vm
OOTW: YES YOUR MEMBERSHIP WILL GET YOU INTO THE FORUM HON
Doug_W: I can not R click it to open in a new tab?
OOTW: HMMM THATS ODD IT LETS ME RIGHT CLICK TO OPEN IN NEW TAB
OOTW: YOU WILL NEED TO CLICK ON THE WEALTHWATCH GOLD LINK AT TOP OF CHATROOM
OOTW: OPEN THAT IN NEW TAB
OOTW: THEN SCROLL DOWN TO THE IRAN FORUM INSIDE IQD411
Doug_W: ok ty again
OOTW: SURE HON
Doug_W: this one OO ?
Doug_W: IRAQ - MONETARY REFORM, CURRENCY, BANKING & ISX
Doug_W: OR this one
Doug_W: MISCELLANEOUS - IRAN - THE RIAL, SANCTIONS, RELATED AND GENERAL NEWS
OOTW: THE LATTER
OOTW: OHHH DOUG..BROADEN YOUR HORIZONS
OOTW: WITH ENOUGH VENTURING INTO THAT FORUM, YOU'LL GET COMFY