Post Emailed To Dinar Recaps
Enorrste: Thoughts & Perspective On Article
Central: financial sector management electronically end of 2017
There are four phrases in this article that got me excited, in addition to what KAP has already stated and gotten excited about.
The first is the phrase “in the best world systems.” What this means is that the IMF is bypassing older and more traditional methods of change and are instead moving Iraq to the “front of the line” in terms of technological development.
This is consistent with Saleh’s statement made years ago that the dinar would become a “world reserve currency.” When your banking system is among the world’s best that means that you are poised to move directly into the world foreign currency exchange market.
But the next phrase is where Saleh’s statement about the dinar become a world reserve currency gains some credence. That phrase is “helps to pull the money supply of homes to the banking sector.”
We have read over the years that this is a major concern, namely, how do we get people in Iraq to pull their dinars out of their mattresses and put them into the banking system? It seems evident from this phrase that this is intended to do just that.
Now, the connection to Saleh’s prediction about the dinar becoming a world reserve currency is that as these dinars come out of the mattresses and into the banks they can be destroyed by the CBI, thus lowering the overall money supply, allowing the value of the dinar to rise.
The rising value of the dinar, given their high relative reserve position, will ensure that the dinar will become one of the strongest currencies in the world.
The next phrase that struck me is “the adoption of advanced banking technologies adopted by the biggest banks in the world.”
This phrase emphasizes the point that KAP was making earlier in this thread, namely that this article is clearly stating that Iraq will be opening the dinar to the world market by the end of this year.
Following along with that, as KAP noted, is that this will only happen if they also float the currency. This is where our investment will begin to pay off for us all. I agree with KAP that this will have to be at least initiated prior to the end of this year. It is a process that will take some time to implement.
It will be imperative that the CBI get the money out of the mattresses before allowing the value to rise too high in order to avoid serious inflation. This brings me to the last great phrase.
That phrase is “the entry of active cooperation with the world’s largest companies.” Once this new high-tech banking system is in place we will see the “Wild West” that KAP and I have described many times over the years begin to occur.
Investors all over the world, and in particular “the world’s largest companies,” will leap at the chance to enter into this essentially untapped market.
The guarantees (insurance) and electronic security provided by a state-of-the-art banking system akin to that used by the most advanced countries in the world will be a huge magnet for these mega-companies to get their feet wet in the Iraqi market.
The result, of course, will be an enormous upward pressure on the value of the dinar as new investment money comes into the country.
You can rest assured that most of the “Fortune 500” companies in America, not to mention others around the world, will want to “stake their claim” in this market as soon as the proper conditions permit. That time frame has been given in this article: sometime in the fourth quarter of this year.
I expect the float to begin late in the third quarter or early in the fourth quarter. I expect the money supply to fall with the rise in value of the dinar.
Then I expect a cascading effect as more and more new money floods into Iraq for investment, thus putting even more upward pressure on the dinar value. Within two or three years we should see a world reserve currency emerge and be poised to take our profits. Enorrste
Article Being Referenced:
Central: financial sector management electronically end of 2017
6/3/2017 0:00 BAGHDAD / Hussein Tgb
A new phase began espoused by Iraq of developing the financial sector is the adoption of a sophisticated system changes the shape of financial transactions and the entry of active cooperation with the world's largest companies, which owns real orientations to work in the country where he will be present in the banking technology conference organized by the Iraqi private banks association under the auspices of the Central Bank of Iraq phase,
Malhma orientation and positive impact that will promote the financial sector, which is the focus of the advancement of the economy while performing real duties of products starting from the financing of major projects down to streamline major to deal with big numbers.
Director General of the financial operations of the Central Bank of Iraq, Dr. Mahmoud Mohammed said that the current year will see in the fourth quarter sophisticated financially important is linking the banking sector and the national Palmksm which makes all the operations are managed electronically away from all forms of risk,
as well as it is easy for citizens to facilitate billing operations electronically away from direct communication, pointing to the importance that preceded banking technologies conference which will be held during the month of May, organized by the Association of Iraqi private banks under the auspices of the Central Bank, which will come in the best world systems.
Mohammed pointed out that the new system improves the quality of financial performance and promote the process of the money that is currently transported ways Cache transmission, and helps to pull the money supply of homes to the banking sector, pointing to go a long way in the completion stages of the project, pointing out that the citizen service outlets across this advanced systems will be deployed in the local markets.
Executive Director of the Association of Iraqi private banks Tariq Ali pointed out that the presence of international companies to Baghdad in particular and to inform them on the ground and the reality of work and life is a sign of the first of its kind in Iraq, especially as the companies
It will be located in Baghdad in
Permanently to achieve the objective, which I attended for him and of the development of banking products through the adoption of advanced banking technologies adopted by the biggest banks in the world.
He said in an interview for the "morning"
The previous conferences were organized around
Outside Iraq, and this was a win-win for our sectors, where companies offer advanced technologies, but can not stand on the extent to Kdrthabelhoudor
Baghdad and the actual work, stressing that the organization of the conference in Baghdad makes us really Nwcr companies are able to work in Baghdad, and this facilitates our mission, which is going according to the evolutionary stages and under the supervision of the Central Bank of Iraq.
He noted that the presence of the largest banking technology companies in the world, along with banks and managers Commissioners owners helps to strengthen cooperation in a more and stimulate the banking sector to acquire best systems also helps to create a positive competition between the banks and the expansion of advanced products and thereby contribute to the development of the banking business and make offers competing services regional and international banks and their branches operating in Iraq.
Tariq stressed that the Association continues to implement the training plan aimed at enabling the public and private banks, employees of sophisticated banking systems, stressing that the basis of the advancement of banking products requires human resources which are the focus of the development of any economic sector development.
This conference comes after the efforts that have been made by the Iraqi financial sector to advance in their work and within the vision and strategy of the Iraqi Central Bank, which aims to upgrade the sector, development and integration of new technologies in their systems and benefit from successful experiences provided by international companies in the application software and banking systems in many countries the region as a means of linking bank branches and electronic administration in addition to the electronic payment services through the card or by mobile phone and thus facilitated and encouraged to win many customers from beneficiaries
The development of technology to speed the delivery of services to them.
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