WEALTHWATCH 1-10-16
Post From Wealthwatch.world Chat Room
News With Links & Discussion
Wealthwatch Late PM Early AM Chat 1-10-16 Part 2 of 2 With Butifldrm
chattels: It is a " devaluation or adjustment " in the value of the dinar to the dollar to reduce the amount required of the CBI to support the auction process. IMO.
chattels: JANUARY 9, 2016 CENTRAL: NO INTENTION TO AMEND THE IRAQI DINAR EXCHANGE RATE
chattels: BAGHDAD / Obelisk: The Central Bank of Saturday, the lack of intent to amend the Iraqi dinar exchange rate, pointing out that the devaluation of the dinar would lead to damaging the purchasing power of citizens.
chattels: The statement added that “the central bank is well aware that any reduction in the value of the dinar meant damaging the purchasing power of citizens because most of their needs are imported.”
~~~
Post From Wealthwatch.world Chat Room
News With Links & Discussion
Wealthwatch Late PM Early AM Chat 1-10-16 Part 2 of 2 With Butifldrm
chattels: It is a " devaluation or adjustment " in the value of the dinar to the dollar to reduce the amount required of the CBI to support the auction process. IMO.
chattels: JANUARY 9, 2016 CENTRAL: NO INTENTION TO AMEND THE IRAQI DINAR EXCHANGE RATE
chattels: BAGHDAD / Obelisk: The Central Bank of Saturday, the lack of intent to amend the Iraqi dinar exchange rate, pointing out that the devaluation of the dinar would lead to damaging the purchasing power of citizens.
chattels: The statement added that “the central bank is well aware that any reduction in the value of the dinar meant damaging the purchasing power of citizens because most of their needs are imported.”
~~~
chattels: iraqidinarchat.net/
http://ift.tt/1kYurEU
chattels: The terminology is confounding. Amend, increase, decrease, etc.
faith: Read that article last night. My "take away" was that they are no longer considering devaluing the dinar as an option.
Butifldrm: GM chattels, yes I do agree
Butifldrm: I believe these articles either from the CBI or parliament are just a symptom of the continuous battle between the government and the CBI
Butifldrm: who really is in charge of monetary policy
Butifldrm: I think the CBI wins lol
ladyfox: I don't know when this year or I hate to say it or next!! I am holding on to my investment
Butifldrm: I believe the next battle between the two will be over the auctions
faith: Some weeks back, there were articles that said the devaluing of the dinar was being considered. I believe several people commented that it would appear that move, would decrease rather than increase purchasing power for the Iraqi citizens.
It appears that the Iraqis had the same concern and have concluded that wouldn't be a good idea. Well as much as anything is "concluded" in Dinarland.
Butifldrm: there is still corruption associated with the auctions and the government is going to try to manipulate the auctions again
Butifldrm: faith, as the CBI stated, Iraq is still an import nation, and decreasing the value would really hurt the citizen
Butifldrm: All the bluster about the national product and Iraq only produces around 4% of the products the citizens need
faith: Perhaps it is optimism instead of objectivity on my part...but it appears to me that it is the" devaluing" of the dinar that is off the table, not "revaluing".
Butifldrm: Economics: domestic industry constitute only 4% compared to import
faith: So...did anyone win the lottery????
chattels: ‹@faith› I think that you are correct from the content of the articles.
Butifldrm: http://ift.tt/1TbIwPd... LINK
Butifldrm: faith no I think it's up to 1.3B
chattels: But, " revaluing " seems remote to me for many other reasons.
Butifldrm: ‹@chattels› I agree with that also
Butifldrm: much has to be done in the banking system and within the economy both legislative and in growth to see an increase
ladyfox: have a great day guys church time
faith: Yep...mass time for me. Have a great day everyone!
Butifldrm: as for the auctions it appears the economic committee is going to try to edit the sale of the dollar
Butifldrm: faith thanks
Butifldrm: you too honey
chattels: I continue to question the ability of Iraq to reform their currency without greater physical control of their own countryside.
Butifldrm: "He said the" next couple of months Sconan hardest financially due to mounting popular discontent toward the government, which did not provide only a few million dinars as a result of continuous truncated to the salaries of employees and retirees to fill the budget deficit of 22 billion dinars.
" He stressed that "to reduce expenses in accordance with the real plans and increase the resources of the state through taxes and the collection of money arrears for years in addition to the cancellation of the central bank daily auction through which the money the sale of oil smuggling may help in the development of the Iraqi economy on track right next to the stage."
Butifldrm: wealthwatch.world/showthr...
http://ift.tt/1kYurEW
Butifldrm: ‹@chattels› so you are saying until the security situation is under control. I believe that is a huge factor too
Butifldrm: As long as thesecond largest city is under the control of Daesh and they are in control of the banks Iraq has a huge problem
chattels: ‹@Butifldrm› And political security.
Butifldrm: plus the majority of financial resources are going toward the popular crowd to fight Daesh
Butifldrm: chattels, I'm not sure if Iraq will ever be politically secure
chattels: " the decision to delete the zeros of the Iraqi currency requires a political and security are conditions stable " wealthwatch.world/showthr...
http://ift.tt/1XaClgf
chattels: ‹@Butifldrm› " relative " security :)
Butifldrm: Amnesty and Accountability and Justice have been on the table for years right along side national Reconciliation Butifldrm: Oh yea Butifldrm: for sure
chattels: For all we know legislative gridlock will continue. The rhetoric is high sounding, but we await real action.
Butifldrm: Every oil producing nation right now is in a sovereign debt crisis and Iraq is hit even worse because of their security situation
Butifldrm: I read today that Saudi will be bankrupt within 5 years
Butifldrm: Iraq has till April
Doug_W: price of oil and unwise budgets
chattels: Substantial portions of the population of middle eastern countries are on the government payroll.
Butifldrm: ‹@Doug_W› Iraq has no sovereign wealth fund
Butifldrm: they had the DFI, but Maliki and company abused that money
Doug_W: yup he really rapped Iraq
Butifldrm: ‹@Doug_W› yes
Butifldrm: I was glad to see this week they obtained 4M USD from Jordan
Doug_W: that will help...a Lil
Butifldrm: From what I am reading today the economic committee is getting back to work in the comin period to deal with the crisis. lmao
Doug_W: "The rhetoric is high sounding, but we await real action."
Butifldrm: the crisis has so many layers I know it is very overwhelming and they are all just grasping at straws as to what to do
Butifldrm: they key is passing the legislation to promote the private sector
Doug_W: can U explain to me the need to reduce the note count?
Doug_W: plz/ TY
Butifldrm: ok, I believe Iraq has about 4B notes including all categories in circulation
Butifldrm: let me go verify that number brb
Doug_W: ok....
Butifldrm: yes they have 4 B and would like to reduce to 1 B
http://ift.tt/1kYurEU
chattels: The terminology is confounding. Amend, increase, decrease, etc.
faith: Read that article last night. My "take away" was that they are no longer considering devaluing the dinar as an option.
Butifldrm: GM chattels, yes I do agree
Butifldrm: I believe these articles either from the CBI or parliament are just a symptom of the continuous battle between the government and the CBI
Butifldrm: who really is in charge of monetary policy
Butifldrm: I think the CBI wins lol
ladyfox: I don't know when this year or I hate to say it or next!! I am holding on to my investment
Butifldrm: I believe the next battle between the two will be over the auctions
faith: Some weeks back, there were articles that said the devaluing of the dinar was being considered. I believe several people commented that it would appear that move, would decrease rather than increase purchasing power for the Iraqi citizens.
It appears that the Iraqis had the same concern and have concluded that wouldn't be a good idea. Well as much as anything is "concluded" in Dinarland.
Butifldrm: there is still corruption associated with the auctions and the government is going to try to manipulate the auctions again
Butifldrm: faith, as the CBI stated, Iraq is still an import nation, and decreasing the value would really hurt the citizen
Butifldrm: All the bluster about the national product and Iraq only produces around 4% of the products the citizens need
faith: Perhaps it is optimism instead of objectivity on my part...but it appears to me that it is the" devaluing" of the dinar that is off the table, not "revaluing".
Butifldrm: Economics: domestic industry constitute only 4% compared to import
faith: So...did anyone win the lottery????
chattels: ‹@faith› I think that you are correct from the content of the articles.
Butifldrm: http://ift.tt/1TbIwPd... LINK
Butifldrm: faith no I think it's up to 1.3B
chattels: But, " revaluing " seems remote to me for many other reasons.
Butifldrm: ‹@chattels› I agree with that also
Butifldrm: much has to be done in the banking system and within the economy both legislative and in growth to see an increase
ladyfox: have a great day guys church time
faith: Yep...mass time for me. Have a great day everyone!
Butifldrm: as for the auctions it appears the economic committee is going to try to edit the sale of the dollar
Butifldrm: faith thanks
Butifldrm: you too honey
chattels: I continue to question the ability of Iraq to reform their currency without greater physical control of their own countryside.
Butifldrm: "He said the" next couple of months Sconan hardest financially due to mounting popular discontent toward the government, which did not provide only a few million dinars as a result of continuous truncated to the salaries of employees and retirees to fill the budget deficit of 22 billion dinars.
" He stressed that "to reduce expenses in accordance with the real plans and increase the resources of the state through taxes and the collection of money arrears for years in addition to the cancellation of the central bank daily auction through which the money the sale of oil smuggling may help in the development of the Iraqi economy on track right next to the stage."
Butifldrm: wealthwatch.world/showthr...
http://ift.tt/1kYurEW
Butifldrm: ‹@chattels› so you are saying until the security situation is under control. I believe that is a huge factor too
Butifldrm: As long as thesecond largest city is under the control of Daesh and they are in control of the banks Iraq has a huge problem
chattels: ‹@Butifldrm› And political security.
Butifldrm: plus the majority of financial resources are going toward the popular crowd to fight Daesh
Butifldrm: chattels, I'm not sure if Iraq will ever be politically secure
chattels: " the decision to delete the zeros of the Iraqi currency requires a political and security are conditions stable " wealthwatch.world/showthr...
http://ift.tt/1XaClgf
chattels: ‹@Butifldrm› " relative " security :)
Butifldrm: Amnesty and Accountability and Justice have been on the table for years right along side national Reconciliation Butifldrm: Oh yea Butifldrm: for sure
chattels: For all we know legislative gridlock will continue. The rhetoric is high sounding, but we await real action.
Butifldrm: Every oil producing nation right now is in a sovereign debt crisis and Iraq is hit even worse because of their security situation
Butifldrm: I read today that Saudi will be bankrupt within 5 years
Butifldrm: Iraq has till April
Doug_W: price of oil and unwise budgets
chattels: Substantial portions of the population of middle eastern countries are on the government payroll.
Butifldrm: ‹@Doug_W› Iraq has no sovereign wealth fund
Butifldrm: they had the DFI, but Maliki and company abused that money
Doug_W: yup he really rapped Iraq
Butifldrm: ‹@Doug_W› yes
Butifldrm: I was glad to see this week they obtained 4M USD from Jordan
Doug_W: that will help...a Lil
Butifldrm: From what I am reading today the economic committee is getting back to work in the comin period to deal with the crisis. lmao
Doug_W: "The rhetoric is high sounding, but we await real action."
Butifldrm: the crisis has so many layers I know it is very overwhelming and they are all just grasping at straws as to what to do
Butifldrm: they key is passing the legislation to promote the private sector
Doug_W: can U explain to me the need to reduce the note count?
Doug_W: plz/ TY
Butifldrm: ok, I believe Iraq has about 4B notes including all categories in circulation
Butifldrm: let me go verify that number brb
Doug_W: ok....
Butifldrm: yes they have 4 B and would like to reduce to 1 B
Butifldrm: The independent Iraqi News Agency (INA) quoted Abdul Hussein al-Yasiri, a member of the Iraqi parliamentary Finance Committee, as saying that 2014 will witness the deletion of zeros from the Iraqi currency. He noted that the deletion will occur in coordination with the CBI, and that as a result of the project, the number of banknotes in circulation will be reduced from 4 billion to 1 billion.
Read more: http://ift.tt/1U6ADse...
http://ift.tt/1SbXmnr
Butifldrm: now this is an older article but it verifies the number
Doug_W: yes I know that's their goal but why?
Butifldrm: the number of notes does not include the monetary value, in other words according to the CBI they have around 30 something trillion dinar in circulation
Butifldrm: well the more notes they pull will decrease the amount oc currency in the market
Doug_W: 4B is the actual note count of all denoms
Butifldrm: so if I had 1000 dollars in the market denominated in 5 $100 dollar bills and the rest $20's
Butifldrm: I pulled out 20 $20 dollar bills from the market, my money supply would o from $1000 dollars to $600
Butifldrm: does that make sense and my note count would go from 30 notes to 10 notes
Butifldrm: yes 4B includes all categories or denominations
Butifldrm: Ok guys I better get to cleaning mu house, I'm gonna have so much fun shampooing carpets
Butifldrm: have agreat day
Tootsie: As I understand the reduction in notes ~ that is where the new 50K and when issued 100K notes come into play.
For , example, paying in 50K notes rather than 25K notes, so, issue 1 rather than 2 , (reduction in note count) and turn into bank my worn / tattered 25K notes for 1 100K note (when it appears) this is a reduction x 4 ~ at least that is what I have gleaned from many articles explaining such. Simple example, but you get the point.
Tootsie: monetary value not changed, but note count reduced
Tootsie: Like when I go to bank, want 350 $ I pull out 3 100s and 1 50 instead of 7 20s and 1 10 = fewer notes (bills)
Tootsie: # 17 20s and 1 10 (fingers messed up haha)
Read more: http://ift.tt/1U6ADse...
http://ift.tt/1SbXmnr
Butifldrm: now this is an older article but it verifies the number
Doug_W: yes I know that's their goal but why?
Butifldrm: the number of notes does not include the monetary value, in other words according to the CBI they have around 30 something trillion dinar in circulation
Butifldrm: well the more notes they pull will decrease the amount oc currency in the market
Doug_W: 4B is the actual note count of all denoms
Butifldrm: so if I had 1000 dollars in the market denominated in 5 $100 dollar bills and the rest $20's
Butifldrm: I pulled out 20 $20 dollar bills from the market, my money supply would o from $1000 dollars to $600
Butifldrm: does that make sense and my note count would go from 30 notes to 10 notes
Butifldrm: yes 4B includes all categories or denominations
Butifldrm: Ok guys I better get to cleaning mu house, I'm gonna have so much fun shampooing carpets
Butifldrm: have agreat day
Tootsie: As I understand the reduction in notes ~ that is where the new 50K and when issued 100K notes come into play.
For , example, paying in 50K notes rather than 25K notes, so, issue 1 rather than 2 , (reduction in note count) and turn into bank my worn / tattered 25K notes for 1 100K note (when it appears) this is a reduction x 4 ~ at least that is what I have gleaned from many articles explaining such. Simple example, but you get the point.
Tootsie: monetary value not changed, but note count reduced
Tootsie: Like when I go to bank, want 350 $ I pull out 3 100s and 1 50 instead of 7 20s and 1 10 = fewer notes (bills)
Tootsie: # 17 20s and 1 10 (fingers messed up haha)
via Dinar Recaps - Our Blog http://ift.tt/1kYurEY
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