BLC Admins Chat Currency Articles 11/02/2015
[tlm724] Central was able to overcome the side effects of currency
[tlm724] an economic expert is speaking
Iraq has achieved a significant decrease in the inflation rate for the period from 2010 to 2007. And it attributed the achievement to the efforts of the monetary authority in the recruitment of lifting the Iraqi dinar exchange rate against the dollar through foreign currency sale and purchase of the dinar in the exchange market foreign
http://ift.tt/1GZIMeD
[tlm724] the CBI managed the dinar through the auction of the dollar and was able to decrease inflation from 2007 til 2010
[tlm724] As a result, the surplus in demand for the dollar, followed by a significant and prolonged decline in the Iraqi dinar exchange in the free market, starting from the first quarter of 2011 price coupled with higher inflation
[tlm724] that is where the dinar showed it's weakness, too many dollars too much corruption among the traders
~~~
[tlm724] Central was able to overcome the side effects of currency
[tlm724] an economic expert is speaking
Iraq has achieved a significant decrease in the inflation rate for the period from 2010 to 2007. And it attributed the achievement to the efforts of the monetary authority in the recruitment of lifting the Iraqi dinar exchange rate against the dollar through foreign currency sale and purchase of the dinar in the exchange market foreign
http://ift.tt/1GZIMeD
[tlm724] the CBI managed the dinar through the auction of the dollar and was able to decrease inflation from 2007 til 2010
[tlm724] As a result, the surplus in demand for the dollar, followed by a significant and prolonged decline in the Iraqi dinar exchange in the free market, starting from the first quarter of 2011 price coupled with higher inflation
[tlm724] that is where the dinar showed it's weakness, too many dollars too much corruption among the traders
~~~
[tlm724] the CBI used 2 tools to help correct the dinar 1. one directly represented in intervention in the exchange market to swap foreign currency (dollar) in local currency
[tlm724] 2. directly based on the increase in the desire to retain financial assets (savings deposits) denominated in national currency
[tlm724] and then recently added to them some of the administrative procedures for regulating access to foreign currency
[tlm724] that is when the CBI restricted the auction and who has access to the dollar
[tlm724] Awad said he based revaluation of the exchange rate policy pursued by the Central Bank of Iraq since October 2003
[tlm724] expresses its readiness to secure the display of foreign currency (dollars) to cover the need for demand to ensure the strengthening of the national currency and gradually to maintain stability at the target in each stage or period of revaluation ranges
[tlm724] this is more recent when we saw the CBI take over control of the market prices when the dinar was tanking
[tlm724] maintain stability at the target in each stage or period of revaluation ranges
[therealbubbie] and this . But moving the nominal exchange rate of the local currency (the dinar) administratively and continuously toward the highest against the dollar away from the fundamentals of the economy dinar to the calendar of the highest value market equilibrium and calendar dollar undervalued.
[therealbubbie] And that if the low value of local currency more than they should or undervalued real value it buys this currency and pushes against which foreign exchange to reduce the quantity supplied them and raise the price to the desired level.
[tlm724] therealbubbie yes !
[therealbubbie] He added that the central bank a day in the initial exchange market (referring to the lack of a future market for the currency or market options) and expresses its readiness to secure the display of foreign currency (dollars) to cover the need for demand to ensure the strengthening of the national currency and gradually to maintain stability at the target in each stage or period of revaluation ranges .
[therealbubbie] gradually to maintain stability at the target in each stage or period of revaluation ranges .
[therealbubbie] at the target in each stage.. or period of revaluation ranges
[tlm724] the important thing is this : stability at the target in each stage or period of revaluation ranges
[therealbubbie] bingo !! now do it ! A holes !
[cat] *its coming*
[tlm724] as the CBI finally took control of the markets they showed their hand, they DO have control and there are obviously stages to the revaluation
[tlm724] And that's where purchases or sales of foreign currency are against the national currency, as this affects the cash basis (currency in circulation plus bank reserves)
[tlm724] sales of foreign currency are against the national currency !!
[tlm724] as this affects the cash basis (currency in circulation plus bank reserves)
[tlm724] ah the old dinar count , gotta be much lower now
And that if the low value of local currency more than they should or undervalued real value it buys this currency and pushes against which foreign exchange to reduce the quantity supplied them and raise the price to the desired level.
Conversely, if the local currency value too high any denominated Boktrmen real value will be on the central bank to intervene as a seller in exchange for purchase of foreign currencies to increase the quantity supplied them and cut its price to limit or desired range to it.
[tlm724] And that if the low value of local currency more than they should or undervalued real value it buys this currency and pushes against which foreign exchange to reduce
the quantity supplied them and raise the price to the desired level
[tlm724] reduce the quantity supplied them and raise the price to the desired level
[tlm724] that in Iraq there is a belief that the Iraqi dinar denominated less than the actual value
[cstacy] great
[tlm724] the Iraqi dinar denominated less than the actual value
[tlm724] This central bank intervenes in the currency swap market as a seller and a buyer of the dollar the local currency exclusively.
[tlm724] so it is solely in the hands of the CBI, monetary policy to increase the value of the dinar and show it's true worth !
[tlm724] now lets look at the latest statement from the CBI
Governor of the Bank: Iraq enjoys a comfortable reservoir of foreign currency
2015/11/1
{Baghdad: Euphrates News} said Governor of the Central Bank and the Agency on the Keywords that Iraq still enjoys a comfortable reservoir of cash foreign currency.
Keywords and said in a statement to Agence {Euphrates News}, that Iraq has a reserve of cash currency, which protect him from falling into an economic crisis suffocating, or the inability of the State to provide the employees' salaries, and cover the projects, "pointing out that" Iraq reserves estimated at more than 1,500% ".
He said the central bank governor that the issue of deletion of zeros from the currency, will be in the event of the existence of an administrative security stability can the state control over the markets, and the imposition of standardized pricing on the goods.
It is said that Iraq is undergoing austerity due to the financial crisis that has gone through because of the low prices global oil. ended h
http://ift.tt/1KQou2m
[tlm724] CBI has a nice cushion of reserves
[tlm724] that Iraq has a reserve of cash currency, which protect him from falling into an economic crisis
[tlm724] the CBI is not concerned about it's ability to weather the economic storm
[tlm724] Iraq reserves estimated at more than 1,500%
[cstacy] tlm724 yesssss
[tlm724] 1500 % is a really nice cushion !!
[tlm724] "Governor of the Central Bank, adding that the issue of deletion of zeros from the currency, will be in the event of an administrative and security stability can control the state of the markets, and the imposition of standardized pricing on goods.
[tlm724] I had said this the other day "I think he is saying delete the zero's when the tariffs are imposed ? AND it is great to see confirmation from the governor that this is still front and center in the big picture"
[Mikey] we never should have totally withdrawn our troops .... thanks O. 1st time in history
[tlm724] Mikey exactly !
[tlm724] I had the chance to discuss this statement with BondLady specifically the imposition of standardized pricing on goods
[tlm724] she explained that this IHO was making the adjustments to prices of goods perhaps for the increase in the dinar, let me explain it as she explained it to me
[tlm724] if a widget currently costs 189,000 dinars and the CBI plans to, say increase the dinar to 1 dinar to 1 dollar as an EXAMPLE then there must be a price schedule if you will that will reflect the true price of goods AFTER the change. Also remember what BondLady told us years ago, that when a reporter asked Dr. Shabibi how he would change all the prices he replied " I will just insert this disk"
[tlm724] in other words that 189,000 dinar widget must be adjusted to $189.00, someone check my math please, but you get the idea
[tlm724] will be in the event of the existence of an administrative security stability can the state control over the market
[tlm724] administrative security stability
[tlm724] that is referring to stability in monetary policy and the administration of the policy ! The electronic clearing house , auditing system within the banking system of Iraq. The corruption must be stopped as much as possible
[tlm724] we know they now have AML and that is a huge step in currency reform and it gives them the power to prosecute the corrupt !
[tlm724] the state control over the market
[tlm724] we saw the CBI take control as I mentioned earlier when the dinar tanked. With the laws in place and the CBI having complete sovereignty over policy we know this point " state control over the market" is taken care of
[tlm724] we could very well be in a very good window of opportunity here
[tlm724] remember what the economist said " Awad said he based revaluation of the exchange rate policy pursued by the Central Bank of Iraq since October 2003"
[tlm724] in Oct of 2003 Ambassador Bremer changed the currency to what we hold now
[tlm724] 2. directly based on the increase in the desire to retain financial assets (savings deposits) denominated in national currency
[tlm724] and then recently added to them some of the administrative procedures for regulating access to foreign currency
[tlm724] that is when the CBI restricted the auction and who has access to the dollar
[tlm724] Awad said he based revaluation of the exchange rate policy pursued by the Central Bank of Iraq since October 2003
[tlm724] expresses its readiness to secure the display of foreign currency (dollars) to cover the need for demand to ensure the strengthening of the national currency and gradually to maintain stability at the target in each stage or period of revaluation ranges
[tlm724] this is more recent when we saw the CBI take over control of the market prices when the dinar was tanking
[tlm724] maintain stability at the target in each stage or period of revaluation ranges
[therealbubbie] and this . But moving the nominal exchange rate of the local currency (the dinar) administratively and continuously toward the highest against the dollar away from the fundamentals of the economy dinar to the calendar of the highest value market equilibrium and calendar dollar undervalued.
[therealbubbie] And that if the low value of local currency more than they should or undervalued real value it buys this currency and pushes against which foreign exchange to reduce the quantity supplied them and raise the price to the desired level.
[tlm724] therealbubbie yes !
[therealbubbie] He added that the central bank a day in the initial exchange market (referring to the lack of a future market for the currency or market options) and expresses its readiness to secure the display of foreign currency (dollars) to cover the need for demand to ensure the strengthening of the national currency and gradually to maintain stability at the target in each stage or period of revaluation ranges .
[therealbubbie] gradually to maintain stability at the target in each stage or period of revaluation ranges .
[therealbubbie] at the target in each stage.. or period of revaluation ranges
[tlm724] the important thing is this : stability at the target in each stage or period of revaluation ranges
[therealbubbie] bingo !! now do it ! A holes !
[cat] *its coming*
[tlm724] as the CBI finally took control of the markets they showed their hand, they DO have control and there are obviously stages to the revaluation
[tlm724] And that's where purchases or sales of foreign currency are against the national currency, as this affects the cash basis (currency in circulation plus bank reserves)
[tlm724] sales of foreign currency are against the national currency !!
[tlm724] as this affects the cash basis (currency in circulation plus bank reserves)
[tlm724] ah the old dinar count , gotta be much lower now
And that if the low value of local currency more than they should or undervalued real value it buys this currency and pushes against which foreign exchange to reduce the quantity supplied them and raise the price to the desired level.
Conversely, if the local currency value too high any denominated Boktrmen real value will be on the central bank to intervene as a seller in exchange for purchase of foreign currencies to increase the quantity supplied them and cut its price to limit or desired range to it.
[tlm724] And that if the low value of local currency more than they should or undervalued real value it buys this currency and pushes against which foreign exchange to reduce
the quantity supplied them and raise the price to the desired level
[tlm724] reduce the quantity supplied them and raise the price to the desired level
[tlm724] that in Iraq there is a belief that the Iraqi dinar denominated less than the actual value
[cstacy] great
[tlm724] the Iraqi dinar denominated less than the actual value
[tlm724] This central bank intervenes in the currency swap market as a seller and a buyer of the dollar the local currency exclusively.
[tlm724] so it is solely in the hands of the CBI, monetary policy to increase the value of the dinar and show it's true worth !
[tlm724] now lets look at the latest statement from the CBI
Governor of the Bank: Iraq enjoys a comfortable reservoir of foreign currency
2015/11/1
{Baghdad: Euphrates News} said Governor of the Central Bank and the Agency on the Keywords that Iraq still enjoys a comfortable reservoir of cash foreign currency.
Keywords and said in a statement to Agence {Euphrates News}, that Iraq has a reserve of cash currency, which protect him from falling into an economic crisis suffocating, or the inability of the State to provide the employees' salaries, and cover the projects, "pointing out that" Iraq reserves estimated at more than 1,500% ".
He said the central bank governor that the issue of deletion of zeros from the currency, will be in the event of the existence of an administrative security stability can the state control over the markets, and the imposition of standardized pricing on the goods.
It is said that Iraq is undergoing austerity due to the financial crisis that has gone through because of the low prices global oil. ended h
http://ift.tt/1KQou2m
[tlm724] CBI has a nice cushion of reserves
[tlm724] that Iraq has a reserve of cash currency, which protect him from falling into an economic crisis
[tlm724] the CBI is not concerned about it's ability to weather the economic storm
[tlm724] Iraq reserves estimated at more than 1,500%
[cstacy] tlm724 yesssss
[tlm724] 1500 % is a really nice cushion !!
[tlm724] "Governor of the Central Bank, adding that the issue of deletion of zeros from the currency, will be in the event of an administrative and security stability can control the state of the markets, and the imposition of standardized pricing on goods.
[tlm724] I had said this the other day "I think he is saying delete the zero's when the tariffs are imposed ? AND it is great to see confirmation from the governor that this is still front and center in the big picture"
[Mikey] we never should have totally withdrawn our troops .... thanks O. 1st time in history
[tlm724] Mikey exactly !
[tlm724] I had the chance to discuss this statement with BondLady specifically the imposition of standardized pricing on goods
[tlm724] she explained that this IHO was making the adjustments to prices of goods perhaps for the increase in the dinar, let me explain it as she explained it to me
[tlm724] if a widget currently costs 189,000 dinars and the CBI plans to, say increase the dinar to 1 dinar to 1 dollar as an EXAMPLE then there must be a price schedule if you will that will reflect the true price of goods AFTER the change. Also remember what BondLady told us years ago, that when a reporter asked Dr. Shabibi how he would change all the prices he replied " I will just insert this disk"
[tlm724] in other words that 189,000 dinar widget must be adjusted to $189.00, someone check my math please, but you get the idea
[tlm724] will be in the event of the existence of an administrative security stability can the state control over the market
[tlm724] administrative security stability
[tlm724] that is referring to stability in monetary policy and the administration of the policy ! The electronic clearing house , auditing system within the banking system of Iraq. The corruption must be stopped as much as possible
[tlm724] we know they now have AML and that is a huge step in currency reform and it gives them the power to prosecute the corrupt !
[tlm724] the state control over the market
[tlm724] we saw the CBI take control as I mentioned earlier when the dinar tanked. With the laws in place and the CBI having complete sovereignty over policy we know this point " state control over the market" is taken care of
[tlm724] we could very well be in a very good window of opportunity here
[tlm724] remember what the economist said " Awad said he based revaluation of the exchange rate policy pursued by the Central Bank of Iraq since October 2003"
[tlm724] in Oct of 2003 Ambassador Bremer changed the currency to what we hold now
[tlm724] last week I bumped an article with statements from the then Chairman of the Finance Committee, Haider al-Abadi it is titled " Parliamentary demanding financial guarantees by the central bank to delete zeros currency"
http://ift.tt/1NDYdsA
[tlm724] he said " Abadi continued that "the current currency includes forged categories but simple numbers will not pose a threat." Abadi added that the "currency change or delete the zeros of which needs to be a new financial year,"
[tlm724] now we have seen the statement from the CBI and a statement from PM Abadi back in July of 2013
[tlm724] the dinar is front and center in this whole plan, it has not been forgotten and the terrorist have not stopped progress in Iraq !
[tlm724] to wrap it up, maybe just maybe this window we are in now will be our last window , just sayin Wink
[RCS1947] timmie....great job! thank you!
[tlm724] RCS1947 yqw
[cat] thanks timmie and bondlady u the best
[tlm724] hey I am just happy to be in a window, been awhile lol
[tlm724] our pleasure and thank you very much BondLady for always leading us !!
[Mikey] yes, thank you BOTH for all you do for us
[poopsie] tlm724 bondlady ty again I was able to come back to see the rest of the news....exciting news
http://ift.tt/1LMDPoy
http://ift.tt/1NDYdsA
[tlm724] he said " Abadi continued that "the current currency includes forged categories but simple numbers will not pose a threat." Abadi added that the "currency change or delete the zeros of which needs to be a new financial year,"
[tlm724] now we have seen the statement from the CBI and a statement from PM Abadi back in July of 2013
[tlm724] the dinar is front and center in this whole plan, it has not been forgotten and the terrorist have not stopped progress in Iraq !
[tlm724] to wrap it up, maybe just maybe this window we are in now will be our last window , just sayin Wink
[RCS1947] timmie....great job! thank you!
[tlm724] RCS1947 yqw
[cat] thanks timmie and bondlady u the best
[tlm724] hey I am just happy to be in a window, been awhile lol
[tlm724] our pleasure and thank you very much BondLady for always leading us !!
[Mikey] yes, thank you BOTH for all you do for us
[poopsie] tlm724 bondlady ty again I was able to come back to see the rest of the news....exciting news
http://ift.tt/1LMDPoy
via Dinar Recaps - Our Blog http://ift.tt/1GZIMeJ
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