Post From IQDCalls Chat Room
Chat Room News Excerpts & Highlights Sunday Night 2-10-19
Dave Iraq many promises/contracts,donor nations...........still not a penny
Young SC And including loans from from those same countries i listed. Those countries are not giving away big loans for free Sam. There is more to the story then what meets the eye. Too much work placed into a country and you think those countries are not going to expecting a penny back??
Dave and still now private banking laws to protect particularly foreign investors
Young SC To invest in a country you expect a wealthy return and by that the value of the currency is going to increase snd not stay at a miserable rate where no one benefits from
Dave oops no*
Dave Young SC heck this could be all moot as i read from orther countries Govt websites indicate UN ch7 sanctions still in effect
Young SC I dont understand why people do not go by the articles that have been coming out in the last few weeks. Its obvious isn't it?? Everyone can have an opinion but do not ignore facts while making up theories or going by outdated information from 10 to 15 years ago
Dave Young SC alot changes in the world......currency is fluid
Dave i question why do we try to predict anything until Iraq is lifted from UN sanctions
Young SC BAGHDAD - The economic expert, Baqir Kazim, Saturday, presented an effective way to maintain the strength of the local process.
"It is necessary to maintain the balance of the monetary mass in circulation by withdrawing the Iraqi dinar surplus from the need of the domestic market and the stability of the exchange rate," Kazim told Mawazine News. "The importance of providing foreign currency liquidity needed for traders and businessmen to meet the needs Iraqi market ".
, He added that "the Central Bank of Iraq represents a part of the system of economic solution to the value of the Iraqi dinar and not the whole solution, especially as he was the only contender in the economic arena has achieved monetary achievements in the context of the duty of monetary and his quest to reduce the value of the Iraqi dinar exchange rate against the US dollar in the market Local ".
"The stability of the value of the currency can not be studied in isolation from the facts of economic reality and its basic components," he said.
He stressed that "the most important elements of the value of the currency based on four pillars of the basic and is like a square building, which is based on four pillars or pillars of leverage, represented by monetary and financial policies and development policy,
in addition to political skills, ie political stability, social and security and administrative capabilities in the management of the country and the employment policies and wealth Material and human ".
"In economics, they are called policies, which must be integrated and harmonized as a single package in their growth and development so that these policies contribute to the pace of their coherence in raising and enhancing the value of the currency (purchasing power)," Kazem said
Davel ike the last sentence
Dave ....4 pillars though....they are not there yet
Dinard Dave from what ive gathered we just change notes within a currency series but a redenomination is changing the whole currency series
Dave delete the zeros ....yes
Dave with metal
dinard I dont know what youre trying.to say
Dave metal coinage and delete 3 zeros
Young SC That last paragraph in the article i just posted shut down Sams theory of expecting a devaluation in 2019
dinard Yea i dont like old articles
Dave cbi has stated many times "restore and or increase purchasing power of the dinar"
Young SC Exacly Dave
Young SC Exactly*
dinard I wouldnt go off of cbi statements either. They change their mind and lie a lot it seems
Dave dinard CBI: Project deletion of zeros from the currency still exists
2/8/2019 The Central Bank of Iraq that the project to delete zeros from the Iraqi currency is still standing.
The director of the issuance and cabinets Abdul Karim Hassan Shannon that the project to delete the zeros was supposed to start in 2014, but security events and the control of the state regulation on five provinces led to delay, pointing out that the project is to delete three zeros from the current currency with the introduction of large currencies and currencies Metal.
Shannon confirmed that the current cash volume in the markets is large at 44 trillion dinars.
Young SC Lolollll
Young SC If you do not want to listen to the CBI then whose word would you go by then dinard?
Young SC I think CBI has a big say in most things Dinard lol
Dave Young SC lol
Dave just encouraged to see the words currencies metal
Young SC But Sam i am you see why Baxter, Doug, xyz, Tebow dont take you seriously because 90% of what you say is based on outdated information, theories with no facts to back it up, no proof of any sort to back up your opinions. SAM no disrespect to you i dont mean to call you out but come on you gotta do better. You gotta go by with what is coming out of Iraq and not just an opinion
Dave Young SC should that post from cbi make it quite clear.......Currencies metal
Dave put the rest of the banter with sam to bed....?
Dave unless they are talking about commemorative coins.....
Dave unless they are talking about commemorative coins.....
John Young SC So true good points
**** dinard I don't like young articles
Young SC Special / Sky Press Amira Al Jaber
The US dollar is witnessing an unexpected decline against the Iraqi dinar, especially after news that the possibility of lifting three zeros of the Iraqi currency in a process equivalent to the US currency.
Where relevant sources confirmed the decline of the US dollar against the Iraqi dinar after the news, specifically in Iraqi Kurdistan, where the exchange rate of $ 1,196,500
This drop comes in conjunction with the American interest in buying the Iraqi dinar recently after Trump's statement to strengthen the Iraqi currency in parallel with the American
Young SC Do you guys remember that article?
Young SC Back in November Or this one here 2018-11-28
The future of the Iraqi currency Diaa Mohsen
Money, a source and document representing the state, is a symbol and expresses its political and religious system and its own philosophy. In comparison to date writing, documentation across currencies can not be questioned or challenged as a concrete fact and document for a certain period of time.
Humanity has greatly benefited from the history of civilizations through the study of its currencies and their holdings
The discovery of currency is compared to the discovery of printing, as it facilitates the process of exchange between people and traders alike, and the currency is one of the main components of the market; without it, there can be no buying and selling
Before the entry of the British occupation forces in October 1914 was the currency among the people is the Ottoman lira, after which the British occupation authorities introduced the Indian rupee as the currency of circulation, and after independence was established the first council to issue the Iraqi currency in 1931, was linked to the Iraqi dinar in pounds sterling, The July 14, 1958 Revolution The dinar was pegged to the pound and pegged to the US dollar
The Central Bank of Iraq issued a new currency of paper and metal, bearing the slogan of the new Republic. New issues of paper currency were issued in 1971, 1973, and 1978. The Iraqi dinar suffered a continuous deterioration in its value after the Iran-Iraq war began, dropping from $ 3.3 per dinar in 1980 to about $ 4 in 1988.
As a result of the invasion of Kuwait and the issuance of resolutions of the Security Council to impose a blockade on him, and the deterioration of the value of the Iraqi dinar, forced the Central Bank of Iraq to issue currencies that were not traded before, issued banknotes of 50 and 100 dinars, followed in 1995 issued a paper of 250 dinars, The year 2000 issued a cash paper bearing the category of 10,000 dinars, and it is noted that all these categories were carrying
Young SC It is true that this process will not have an impact on the purchasing power of the citizen, since the exchange of currency will take place in another currency. There may be some shock in the market as a result of this switch, but it is a temporary shock.
It is not bad to see the experiences of many countries replaced the currency, such as Turkey, which continued its currency exchange for four years, the Turks remained trading the old currency with the new currency until they were all withdrawn from the market without the market confused
The most important negatives that will accompany the process of deletion of zeros is the cash illusion, as the deletion of three zeros from the Iraqi currency will sign the citizen under the illusion of cash, which is the most prominent negative that can affect the Iraqi citizen in the event of deletion of three zeroes of the current currency is a significant effect,
This will be the result of colliding with the value of the new currency after the deletion, leading him to believe that the value of its assets has decreased by dividing them on the three zeros.
The Iraqi citizen would like to see his currency strong, so the process of raising zeros will contribute to the revaluation of the currency, and reduce the proportion of demand for hard currency, which is characterized by force, and will lead to a balance between the value of domestic and foreign currency and will give them market power at home and abroad,
It is possible that the value of the Iraqi currency against the US dollar, for example, that the employee who receives 1200 thousand dinars at the exchange rate 1200, the purchasing power of $ 1000 dollars and if the strengthening of the dinar equivalent to 500 dinars to the dollar will be purchasing power $ 2400 instead of $ 1000 BURATHANEWS.COM8
Young SC Do you guys remember that article back in November ??
Young SC SAM I AM please read what i posted
**** @Tebow 2-10-2019 Newshound Guru Kaperoni ...the CBI banking conference (which was scheduled for last fall) and rescheduled for Feb 10/11 has in fact been postponed again to "summer 2019".
Some have asked my opinion on this banking event and all I can say is the fact they keep postponing it must be a telling sign that they do not want to hold this event until all their ducks are in place. After all, they advertise "Iraq is open for business" and currently that is not the case. More work still needs to be done...ie currency reform, laws passed etc.
Tebow **** 2-10-2019 Newshound Guru Kaperoni ... Some have asked my opinion. :laugh WHY?
**** The governor of the Central Bank of Iraq, Ali Alalak, on Saturday, February 9, 2019, the existence of direct coordination with the Kurdistan Regional Government and its President, Nechirvan Barzani, noting that "things are becoming very smooth."
**** The Central Bank announces the reduction of the letter of guarantee and fees of supervision and follow-up
Alsumaria News / Baghdad The Central Bank of Iraq announced on Sunday the reduction of the letter of guarantee and wages of supervision and follow-up of companies to mediate the sale and purchase of foreign currencies.
The bank said in a statement received by Alsumaria News that "based on the decision of the Board of Directors of the bank, it was decided to reduce the proportion of the letter of guarantee provided by the companies to mediate the sale and purchase of foreign currencies to become 10% of the capital company instead of 50% and the amount of 50 million Dinars instead of 100 million dinars. "
The bank added that "the fees of supervision and follow-up has also been reduced to 500 thousand dinars instead of one million dinars, and the final audit fees have been reduced to 250 thousand dinars instead of 500 thousand dinars."
Sandyf @Young SC @Sandyf You should read the article i just posted Sandy. I understand that everyone is entitled to have their own opinion including you. I understand and to each their own.
The article you posted is referring to a redenomination which reduces the mass of currency in circulation and enhances the currency value. What many are not prepared to accept is that redenomination revalues the monetary unit but not the existing currency.
sandyf @JoeSchmoe I have always believed that a rd is just bringing in the lds
This is a fundamental problem, many are just not prepared to understand how a redenomination is implemented.
The technical guidelines on how Zambia did it can be found here. http://www.boz.zm/17-2012.pdf
sandyf @Tebow Sam I Am All Kuwait did was replace Saddam's dinar with their dinar as the official currency post-Desert Storm..... WRONG * ! Kuwait never replaced Saddams currency, it was never a Kuwaiti currency. !
You should do some homework before shouting the odds. This article would be a good start.
"The Impact of the Iraqi Invasion on the Kuwaiti Banking and Financial System"
Tebow sandyf Kuwait would never accept a dinar by Saddam!!!! Maybe he had it for his troops before the US kick the **** out of them. But Kuwait never ever accept the dinar as their currency, maybe you should do a bit of research before spewing your *!
JoeSchmoe sandyf You are such a hit and run * ! U cant deal with the backlash, so u split.
blackgold Iran has been in Crypto currency for a few years and they are selling oil and are in other countries backed by gold. Figure out your own plan if you have rial. Rial to Crypto---
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