Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.
Under Conference : Kuwait , the results of which are discouraging to solve the problem economic Iraqi especially after the devastation resulting from the grinding war on terrorism must think of radical solutions and take advantage of other peoples experiences
I want to point to the experience of two states at the time Alhadrohee experience Masrafiqirh powered and experience its Vnzula oil – rich experience sister bank to float the Egyptian pound in 2016, which produced Mayati after only one year of floatation first year float ..
Egypt stronger “numbers” after the liberation of the exchange rate .. cash reserve jumps from 19 to 36.5 billion dollars .. and $ 56 billion to save imports .. and $ 13.7 billion Surplus payments .. and 17.3% higher transfers abroad…
Float the currency , ” an economic term means that the exchange rate against the dollar or any foreign currency away from any interference from the government or the central bank in determining its price, and the associated value of supply and demand
Yes to float the Egyptian currency has led to decrease the price of the pound against the dollar from about 9 to 17 but still the state provides the necessary materials and medicines for citizens did not increase the rate of poverty with the knowledge that Egypt imports most of its need – oil from abroad , which is a very large Obeie
Second example is the state of Venezuela , the state is very rich in oil and is now on the verge of bankruptcy where the conduct of its economy in a similar manner to what is in Iraq at the time of The present and the currency “Venezuela” is now at 3 prices for the exchange, according to the price of central bank exchange rate, the price on the black market, the price used in exports with a large corruption in the work of the Central Bank of
Iraq is on its way with no doubt the Venezuelan example , that measures and radical reforms are similar not taken what happened in Egypt with a big difference to Msalkhh Iraq and hwan Iraq earned from oil exports in the month of December 2017 will alone $ 4-6 billion means about 76 billion Dola year benefits desired from the floating currency with some Alajrouat that resemble Maatkhzth Egypt with the presence of transparency
will increase the central bank reserves amounting up to more than 40 – 50 carefully Dollars in one year
(Masrasttaat increase the central bank ‘s reserves by more than 16 billion in one year) and can this amount available start for major energy projects and water desalination projects , agricultural and construction of hospitals and factories and by international companies sober and will pay for these projects from oil imports without waiting to on foreign investment and this process will provide hundreds of thousands and even millions of jobs for unemployed Iraqis
( the foreign investor foreign workers will come more often , as happened with the oil companies) and foreign investor even if it came at the present time will benefit from the auction sale of the existing currency is currently the result The damage to the Iraqi economy as is the case with mobile phone companies, but if you stop the auction currency impact will be in the interest of Iraq , even with foreign investor
What damage the possible risks in the case of the floating currency of course there is a risk of low currency Iraqi, but for employees who exceed their income from $ 1000 will be the damage is limited and only at the beginning and only the value of purchasing materials perfectionism but will be offset by electricity, hospitals, medical equipment, medicines, roads, water improvement and card Altamonah and there is a potential for a greater number of family members are more job opportunities, but when you start the economy and Planter plants Iraq U – turn will be a drop in the currency news out of date
this process can reduce the rampant corruption and companies unreality It is possible that the Iraqi economy turns into one of the largest developing economies , and
in any case can go back to sell the currency once again after a year or two years if it was not written for this process success and I do not think the piece and the people of Egypt Asalo
Read Full Text: http://www.dinarupdates.com/showthread.php?56296-Flooding-the-Iraqi-dinar-and-stopping-the-auction-is-the-solution-for-the-economy&p=181256#post181256
BGG ~ Well folks… some interesting stuff out there right now…
As I talked about, with the send-off Abadi got at Davos, I had figured this Kuwait Conference wouldn’t go quite the way everyone was thinking. I said as much.
There wasn’t much in the way of “hand-outs” directly to the government of Iraq. There were some commitments and some direct loans (if they want them).
However, loans will weigh down their future budgets (is their concern)… I get the impression they were mainly after free money.
On the other hand, I am still encouraged. In fact, this recent article:
…”Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy”…
…shows us a couple of things:
1) While there seems to be some resistance – from somewhere in the GOI to a move with the currency, where that is or why it is, I am unsure…
2) …there also appears those on the other side of the fence, I am assuming those opposed to corruption and the corrupt processes… are putting pressure on the first group to do something, other than just fish around for free money. Such is noted in the above article.
On a side note, and relating to “fishing around” for free money… there did appear to be something of a start to rounding up corrupt political figures in an effort to reclaim “ill-gotten gains”. As an additional note: Reported in Baghdad recently, it is implied such a push must include Maliki and his henchmen if such a move is to be recognized by the world (and Iraqis) as a genuine effort.
While a float may or may not be what they (or you and I) had envisioned, they just may well do something like this before they do nothing at all. Like I have said all along – I don’t really care how it starts… just that it does and they GET TO IT!!
COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK
The Commission on Reconciliation, Accountability and Justice in the House of Representatives, that next week will see the announcement of the names of about 5,000 people included in the seizure of funds.
The head of the committee Hisham al-Suhail told the news agency, “The Supreme Commission for Accountability and Justice ended the names of all those involved in the seizure of funds,” noting that there is some delay from the Secretariat General of the Council of Ministers not to form a special committee, calling for the urgency of issuing instructions and the formation of the Committee through an approach The competent ministries shall designate the general directors who shall form the committee.
Al-Suhail, who is covered by the decision to hold the money, estimated about 5,000 persons, while the names of tens of thousands will be issued and they can be disposed of afterwards.
Read More: http://www.dinarupdates.com/showthread.php?56297-Announce-the-names-of-5-000-people-included-in-the-seizure-of-funds-this-week&p=181258#post181258 (Special thanks to Vernell)
BGG ~ Funny how that works… about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq.
According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now.
P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…
It is critical to Iraq’s long term success to get a handle on the endemic corruption.
Central Bank of Iraq Auctions $198,173,094 on 15 February 2018
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 15 registered $198,173,094 in sales, a 8.69% volume increase from the US $182,320,645 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 14.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 15 compared to the previous auction.
Data for the February 15 auction was made public by CBI Announcement Number 3636.
Dollar sales in the in the period January 1, 2018 to February 14, 2018 saw an increase of -1% compared to the sales of US $4.75 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.
An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.81 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.
BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.
So, obviously, that’s not true… so what is it?
Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.
I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.
Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.
Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.
1) Fewer auctions?
2) Tightening borders (fewer exports)?
3) More demand? I sincerely doubt it.
4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.
Hence, the price goes up.
Abadi: We have sent to the parliament a new amendment to the budget for approval
Prime Minister Haider al-Abadi announced the sending of a new amendment to the budget to parliament for the vote and approval, stressing at the same time that the federal government will not stand against the Kurdish people with regard to the budget of the Kurdistan region.
Breitling (Dinar Guru) – …What’s the trend that’s coming out? I’ve been getting emails from people asking, “Hey can you recommend a place to buy currency because I went to this trader and they don’t have anymore?” …I started getting more and more emails…The reality is everyone is running out of dinar…I waited and waited to actually find out…from the guys who actually ship the currency over here. There are only three sources that ship the currency over here. And I found out they have no problem at all getting dinar…there’s no laws preventing them from getting dinar. No one has said anything to them. They have a shortage. Do you know what that means? That means they reduced the note count down that much. It means everything! [Post 1 of 3 ]
Read more: http://www.dinarupdates.com/observer/
Breitling (Dinar Guru) – …Those numbers reflect…Do I have the exact number? No…I can tell you when I got into this investment they had about 9 billion notes. And that’s the information I got from the IMF when I researched this…so it went from 9 billion notes to 15 billion notes…I was like holy crap it’s not going to revalue when it gets this high. But guess what?…they said they were going to reduce the note count and they finally did. The last report was 4 billion notes. And I don’t know why they put that report out because you’re not supposed to do that….The reason why it got so high was coming from General Petraeus and these guys …they were saying they’re trying to keep the value down, cheap, so they could rebuild that country. [Post 2 of 3 ]
Read more: http://www.dinarupdates.com/observer/
Iraq’s rebuilding cannot start without reconciliation
The president of the United States Institute of Peace, Nancy Lindborg, who has just visited Iraq, says divisions in the country remain an underlining problem.
And although Iraq’s Prime Minister, Haider Al Abadi, announced a military victory against ISIL in December, there must be a focus on reconciliation to bridge inter-sectarian differences, she stressed.
Iraqis are “alert that although the military campaign is over, Daesh and its ideology is still there,” Mrs Lindborg told The National in an interview in Abu Dhabi.
“A person told us that Daesh didn’t come from a different planet, it came from the grievances that existed in Iraq.”
With parliamentary elections scheduled for May, Iraq’s politics remain divided along sectarian lines, with Shiite politicians in the main positions of power, with many Sunnis – who have boycotted elections in the past – saying they remain sidelined. The future of the semi-autonomous northern region of Kurdistan also remains unresolved after an unsanctioned referendum on independence last autumn.
For Mrs Lindborg, reconciliation is people’s necessary “mechanism for discussing what is the divide in their community without resorting to violence.”
The government must ensure that it creates an “inclusive and accountable way of governing the country so it’s a government for everyone,” she said. Iraq’s weakened social fabric along with widespread corruption are a stumbling block to efforts to recover from its three-year conflict with the insurgents.
Breitling (Dinar Guru) – …And the Iraqi Dinar was becoming so popular they had to squash it. There has been a policy to keep the dinar artificially low. All we had to do was watch when the policy flipped…and what do we see? A huge huge decrease in dinar availability. That’s huge…the numbers don’t lie. The numbers are there and you see the result of it…you should right now be very very happy. There is still dinar out there…but it’s not sitting out there like it used to be. So that’s phenomenal news that’s coming out. We’re actually seeing the result of the reduction of the note count. And that means EVERYTHING. They just can’t add value to a currency. It has to physically equate and represent. Just like the U.S. dollar…and guess what? You’re seeing that. It’s here right in front of you. [Post 3 of 3 ]
Read more: http://www.dinarupdates.com/observer/
Adam Montana (Dinar Guru) – Maliki – that’s an interesting topic right now. I think he’s backed off of the “old Maliki” style considerably, and Abadi is no fool. He’s certainly wise to the posturing and politics. They say there’s no such thing as an “honest politician”, and even though I am a cheerleader for Abadi, the adage applies to him as well. I truly believe that Maliki has created enough past bad-will that he will never truly find himself in a position of power again, and Abadi can play the game well enough to ensure that stays true. If anything, Maliki’s new approach will encourage positive progress for the country as a whole. Abadi should remain in his position, and any kind of peaceful and reasonable discourse between the parties will move us closer to an RV. Conclusion: As much as I loathe these words… I don’t see Maliki as a hindrance to a ReValuation any more. In fact, he may be helping in a roundabout way.
Barzani: Ready to solve our problems with Baghdad
Arbil / .. The head of the Kurdistan Regional Government, Nechirvan Barzani, on Wednesday, the region’s readiness to resolve problems with the federal government on the basis of the Constitution, while expressing his hope for continued US support for the Peshmerga forces.
The Presidency of the Kurdistan Government in a statement received “Eye of Iraq News”, a copy of it, “The Kurdistan Regional Government President Nechirvan Barzani and his deputy Kibad Talabani and a number of officials of the Kurdistan region met with a delegation of US military and diplomatic led by US Central Command commander Jean Joseph Futil,” indicating that “The meeting discussed the military and security situation in Iraq and the Kurdistan region, and the post-elimination of Daqash as well as the technical committees talks between Arbil and Baghdad and my meeting Barzani and Prime Minister Haider Abadi in Baghdad and Davos.”
Barzani praised the “continued support and military assistance to the Peshmerga forces in the war against Daqash, expressing his hope for continued assistance,” reiterating the “readiness of the Kurdistan Region to resolve problems with the Iraqi federal government on the basis of the Constitution.”
For his part, Fotil stressed the “continued US military assistance to the Peshmerga forces,” expressing at the same time “his support and satisfaction of the dialogue between Arbil and Baghdad.”
The Kurdistan region suffers from an internal political and economic crisis following the holding of the independence referendum on September 25, while the relationship between the federal government and the Kurdistan region is strained, prompting the central government to impose several measures, including stopping international flights at Erbil and Sulaymaniyah airports.
BGG ~ If Barzani is thinking he’ll get the US to come down on the side of the Kurds between them and Baghdad, he’s fooling himself. Especially after how his uncle snubbed the “all-in” diplomatic efforts of the world at critical moments in recent Iraq history. Barzani clearly showed he put his personal agenda ahead of everyone.
P.S. Has it gotten COMPLETELY past everyone the KRG has had a complete government rearrangement (not actually changing anything)… WITHOUT A SINGLE VOTE BEING CAST?? No Parliamentary elections, No local elections, No nothing… still a Barzani heading it up, still a Talabani riding shotgun – but no ballot boxes anywhere. Funny how that works.
Some interesting headlines…
Nujaifi: We did not ask the United States to postpone the elections and the causes of divisions are many
World Bank: Iraq is the best place to invest in the world
The Internatinal Finance Corporation (IFC), the private sector arm of the World Bank, has urged international companies to overcome their concerns about financing reconstruction projects in Iraq and capitalize on high-yielding investment opportunities there.
“As the country emerges from a devastating three-year war against ISIS, I do not think anywhere in the world there are such opportunities for investment,” said Ziad Bader, head of the International Finance Corporation’s mission in Iraq, in a speech at Kuwait Chamber of Commerce and Industry.
“IFC has investments of about $ 1.2 billion in various projects in Iraq, including banks, cement factories and telecommunications companies, and is preparing to announce an investment of $ 250 million in a telecommunications project,” he said.
Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
$30bn Pledged to Iraq – Time to Act!
Following the Kuwait International Conference for the Reconstruction of Iraq earlier this week, Iraq has so far received pledges of financing totalling around $30 billion to help with rebuilding the country after the devastating war against the Islamic State group.
While this is well short of the $88 billion in funding estimated to be needed, it is still a very significant boost for the country’s reconstruction programme, and will greatly improve the quality of life for millions of Iraqis.
Commenting on the outcome, UN Secretary-General António Guterres said:
“After the last three days in Kuwait, I feel hope for a new Iraq that is open for business and prepared to face the next challenge of rebuilding communities while reconstructing schools, roads, bridges, hospitals and public infrastructure.
“A prosperous Iraq will be a pillar for development and stability in the region.”
Many readers of Iraq Business News will play key roles in this reconstruction effort, and we would like to wish them every success in this important work.
(Special Thanks to Charles Bright)
BGG ~ I did say this was going to happen – didn’t I??
They were actually talking about 100 Billion in “grants” (all along)… not 88 billion and not a single “grant” in sight.
Looks like Iraq is gonna’ have to earn it. No one is giving it away today.
Click this link to join the DU “private” FaceBook Group…
(go here and ask to join… then add some Dinar Friends!!)
Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477