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Word for the day…
Psalm 121:7 (NKJV)
7 The Lord shall preserve you from all evil;
He shall preserve your soul.
Heavenly Father, Thank You for Your Love, Grace, Mercy, and forgiveness! Thank You for preserving us! In Jesus Name, Amen.
Iraqi Dinar/Dollar auction (most recent listing) 11-24-15
Currency Auctions Announcement No. 3080
This daily currency auction was held in the Central Bank of Iraq on the 11-24-2015
The results were as follows:
|Number of banks||26|
|Number of remittance companies||14|
|Auction price selling dinar / US$||1166|
|Auction price buying dinar / US$||—–|
|Amount sold at auction price (US$)||219,042,755|
|Amount purchased at Auction price (US$)||—–|
|Total offers for buying (US$)||219,042,755|
|Total offers for selling (US$)||—–|
Gratitude is not only the greatest of virtues, but the parent of all the others. – Marcus Tullius Cicero
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SteveI (Dinar Guru) – Article quote: “…the central bank next year will present another new currency worth 100 000 dinars and then followed the process of deleting the zeros currency in circulation is to be one dinar and 5 dinars and 10 dinars and 25 dinars and 100 dinars…“ Look who is promoting the new currency and valuation now, yes Iraq themselves. Pack your bags and get ready. This is so “IN our faces”. The IMF has told the world that they expect Iraq to re-enter the “market” before the first half of 2016. Now we have a member of the Parliamentary Finance Committee while speaking about future revenue happen to say “oh, by the way the 1, 5, 10, 20 and 100 IQD notes are going to be distributed during 2016.“ It certainly appears to me that they (Iraq, CBI, GOI) intend to change the value of the IQD…I believe, unlike previous years, and I have never liked dates, but in this case the window of opportunity starts January 1, 2016. This info is just huge. …the time has come and start preparing for our lives to change.
Read More: http://www.dinarupdates.com/observer/
Moves at the United Nations to bring Iraq under Chapter VII again
BAGHDAD / Sky Press: detection of high-level political source, for consultations in the corridors of the United Nations to move on the UN Security Council to issue a decision to put Iraq under Chapter VII again after the big deterioration in the security landscape of Iraq, pointing out that this resolution, if passed, is a serious blow for all the political forces that Tsidt political scene in Iraq after 2003.
The source said in a statement followed the “Sky Press,” that “the decline of security serious big deterioration in the situation of the Iraqi state, and the existence of serious indicators confirm the use of the Iraqi Central Bank sales of foreign currency and means of supporting and financing terrorist organizations around the world, and Macklh those groups and organizations the terrorist threat to peace and global security, are the reasons spurred some circles in the United Nations to give serious thought to act on the UN Security Council adopt a resolution in order to put Iraq under Chapter VII again, and impose tight on exports and imports and monetary policy restrictions. ”
The source, who requested anonymity, said that “serious consultations in the corridors of the United Nations is moving in this direction,” noting that “this resolution, if passed, is a blow to all the political forces that Tsidt Iraqi scene after the fall of the defunct regime of Saddam, and wreaked in the country corrupt, and it squandered its wealth and plundered its wealth and its territories wastes and destiny in an effort to build financial empires at the expense of national interests and concerns of the people and their suffering.
“The decision of the situation in Iraq under Chapter VII will make the UN decision maker in the country, rather than advisory role in the current phase, so it will work on the investigation of all the files of corruption and prosecute those involved in any spot in the world. Iraq has been listed under Chapter seventh in 1990 Security Council resolution No. 661, Aban Saddam’s invasion of Kuwait on the
Category new cash it will be a blessing or a curse?
Step taken by the Iraqi government cash currency printing of fifty-class thousand dinars Is it the right move will help address the dire economic situation of the country?
To answer this question we must clarify that there are two cases to as the third for them when cash currency printed a new category, whether big or a small, first, a sound that the Government printed new category without an increase in asking allocated from the money supply in circulation in the market monthly amount of any maintaining the size of the case (the original amount of the money supply) without an increase, but the change in the types of categories in which case the procedure is of sound To Aakhalq any inflation, but will achieve steps in the monetary reform process and supports the economy because the deal in the Iraqi market basis based on money supply offset by a small percentage rely on instruments and cards and electronic payment, and will be considered this procedure is not intrusive monetary policy of the country, but is considered part of the payments system management, and here will contribute This procedure is in increasing demand for the national currency and thus increasing value for foreign currency and as a result will reduce the impact of the economic crisis in the Iraqi economy.
The second case was when the government printing of the new category of currency and do pumped into the market of new as payments added to the size of (the original amount of the money supply in circulation) Here, the action is wrong and has negative effects on the economy in all respects because it means that the central bank will lend to the government to promote the shortfall in the budget and therefore will raise the inflation in prices and create stagflation or the so-called (funded budget to inflation), and this would convey the bankruptcy of the state to the community, plus it will create a great disparity between social groups where will be layers of the rich and the layers of the downtrodden, This option is considered bad in all respects because it will contribute to the creation of future economic movement it adds significant accumulations on the economy, including the deterioration of the dinar exchange rate against the dollar and create ill-high distribution of cash currency in the market and all of these factors may result in the arrival of the Iraqi economy into the most dangerous types of inflation known as wildly inflationary and that It has significant negative effects on all aspects of the economy and will increase the economic crisis rather than solve them, not to mention opening the door to fraud that you find in this large cash category lure them to carry out fraud and pumping amounts forged to the Iraqi market factor in light of the deteriorating security conditions for the country As a result the big concern in the war against terrorism and in light of the rampant corruption in all state institutions, including the security in particular.
We raised in the foregoing negative and positive sides to the process of monetary currency of a large class printed in light of economic theory known worldwide and remains the answer to our inquiries the first vague because the ball in the court of the Iraqi government and we do not know the Mavi intention of made the decision Is it relied on the first case of sound, which will lead to reduce the impact of economic and financial crisis we are going through or that he relied on the negative and the second case, which will increase from insult to injury and will put the Iraqi economy, bad, and this we Maostagibh the coming months, which will develop the answer to our inquiries which have been waiting impatiently.
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(Please note – we are posting daily News Articles slightly differently now)
DinarUpdates.com News Time Chat 11-23-15 PM Part 1 of 3
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: The joy of pumice Refer experts lack the cash economy in a market trading day to the weakness of individuals the confidence of the sector of the Iraqi banking, the impact of fiscal policy in the liquidity available in the market size through realized spending in the framework of the implementation of the general budget annually, calling for work to restore confidence in the sector It is important. and caused the lack of financial revenue earned from the oil sector due to a global decline in prices, pressing the government spending, which led to monitor most of the revenues and operating budget for the provision of wages and salaries in return investment projects that promised one of the challenges that have affected the lack of cash in circulation monetary stopped.
Millionday: NOTE — THEY ARE TALKING ABOUT THE NEED TO BRING CONFIDENCE BACK TO THE BANKING INDUSTRY
Millionday: NOTE — THE PROBLEM IS THE LACK OF THE CASH ON THE STREETS AND THE STALL IN PROJECTS ETC FROM THE BUDGET NOT BEING ACTIVATED
Millionday: The operational budget is estimated at next year’s budget in 2016 by more than 83 trillion dinars, or about 80 percent of the support of the general budget revenues. In this regard, said economic expert on behalf of Antoine: The «exacerbate the issue of lack of liquidity in the local market at present, has formed a burden on the citizens, as led to the failure of some banks to pay some depositors benefits they have to pay some companies salaries ».
Millionday: NOTE — OBVIOUSLY WORRY IMPACTS THE MARKET AND ALL FINANCIAL CONFIDENCE
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from Monday 11/16
DinarUpdates.com News Time Chat 11-23-15 PM Part 2 of 3
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: He pointed out that this measure is part of a project to restructure the currency, pointing out that it is long overdue fact that the need has become urgent for the issuance of the biggest and high Akiem categories such as 100 and 200 thousand dinars, similar to neighboring countries and the world and put them circulation has been suspended as a result of rising incomes Mayshl banks and people work to end either.
Millionday: NOTE — THIS IS NOT ABNORMAL IN MANY COUNTRIES AS THEY USE THEM TO BACK THEIR CURRENCY VALUE AND THEY WONT BE IN CIRCULATION
Millionday: In a question »Sabah» whether there are stocks of the dollar offset the new currency Ulkipaia explained that the lack of possibility of currency issuance in the countries responsible unless offset by stocks of the dollar, gold or cash reserve pointing out that at the time of the former regime was printed banknotes without that there will be a stock of hard currency from the fact that the country was trapped and has no contact with other countries.
Millionday: NOTE — IN THE PAST IRAQ DID NOT HAVE HARD BACKED CURRENCY — THE NEW CURRENCY WILL BE BACKED UP BY US STOCKS — CASH OR GOLD
Millionday: The academic pointed d. Falah Thuwaini that the aim of the new edition is to reduce the quantitative content (numerical), saying not all modern edition is a new cash issue increases the amount of money supply, explaining that if it were printed will alone billion dinars from the category of 6000 dinars, or 10 000 dinars, or even 25 000 dinars possible that this billion itself is to be 50 000 class or 100 000 dinars, adding the possibility that there is a Ward acceptable to lead such a move to inflationary expectations in the case of a new version for multiple purposes to Aadamh up or cover concern appropriately.
Read More: http://www.dinarupdates.com/showthread.php?25426-Millionday-newstime-11-23-15&p=137976#post137976
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