| BondLady Chat 1/9/2012 - Shredd post BLC Jan 10th 2012, 14:15 __[Shredd] Central Bank: the end of 2012 will see the currency exchange On: Sun 08/01/2012 18:10 Iraq will not use the dinar in the sales of oil citizen - the follow-up denied the Central Bank of Iraq and there are efforts to use the dinar in the sales of some of the oil exports of the country, because the "market speculators will buy the dinar to sell to countries dealing with the country's oil, and we will enter into a whirlpool of speculation in the dinar, and we are already to reduce inflation, which has suffered monetary Ktltna ".
The Vice-Governor of the Bank Mazhar Mohammad Saleh said that countries that have turned their currencies to the international currency has a very strong economy, such as the European Union, China, Japan and the United States. The Iraq covering the dinar in hard currency through the credits worth $ 53 billion. and the project to delete three zeros from the dinar, Saleh said that "the central bank ended the preparations for the replacement process end of the year", pointing out that "dinar witnessed the first process of replacing a successful 2004, when Replace more than six trillion dinars Bdnanar new and is expected to begin the process of replacement of a second after the removal of three zeros end of this year, and this will be decided by the government ".
The size of the Iraqi currency traded locally about 33 trillion dinars, after he was no more than six trillion in 2003, by banks, to 70 per cent of the money supply. Salih stressed that auction the central bank sold $ 40 billion over the past year, pointing out that "the auction is one of the most important means of monetary policy shift in which oil revenues to the liquidity of local insurance requirements of government budgets, as well to the control of the dinar exchange rate and reducing inflation.
He said, "Central will be obliged to issue a block additional cash during the current year, due to the increased size of the budget, and this means insurance reserves an additional hard currency, which is normal with overall economic growth of the country".
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_He explained that Central Bank is obliged offering larger quantities of the dollar through auction the higher government expenditures denominated in dinars, as 60 per cent of the proceeds of the sale go expenses-governmental organizations, and the remaining are for the benefit of the private sector, and expected to increase demand for the dollar in the current year because of the adoption by the Government budget is the highest in the history of the country.
The government decided to cut the budget this year of $ 115 billion to 100 billion, based on the price of a barrel of oil equals $ 85, and a deficit of $ 14 billion would be covered through internal and external borrowing from the IMF and World Bank.
The volume of trade State of Iraq in the last year, according to the benefit of $ 46 billion, two-thirds of the private sector. It is noteworthy that the Iraqis would prefer to deal in dollars because of the low value of the dinar, as the value of the banknote the same category Top 25 thousand dinars (equivalent to $ 20). to that, the Central Bank that will support the opening of the Rafidain and Rasheed in the Kurdistan region, stressing that he had not received any formal request so far on the subject of the Departments of the two banks.
Salih said (Rn) that »the CBI supports the opening of branches of the Rafidain and Rasheed in the Kurdistan region that it will support Autism financial market in general». Saleh pointed out that «the banking market is not adversely affected by administrative boundaries, and the opening of branches of the Rafidain and Rasheed in the Kurdistan region will stimulate bank transactions and boost the economy in the country ».
Saleh added by saying that «the central bank waiting to provide Departments of Rafidain and Rasheed wrote a formal request through the approval to open branches in the Kurdistan region». The Iraqi Ministry of Finance had announced earlier that it is serious in opening branches of the bank Rafidain and Rasheed in the Kurdistan region, noting that he will be able to staff in the province pull advances the property of those branches.
and according to statistics released by the Iraqi Ministry of Finance recently, there are 25 banks waged, and five state banks in Iraq , and most of those five is the Rafidain banks, which has 190 branches in all provinces and abroad, except for the Kurdistan region in addition to the Rasheed Bank, which has 150 branches in and outside the Kurdistan region of Iraq, except to the bank's real estate, agricultural and industrial.
http://www.almowatennews.com/news_view_33268.html
[BondLady] they can’t use dinar as oil money right now
[BondLady] it would take trillions and trillions
[BondLady] so they have to use usd it’s what they’ve been doing all along
[BondLady] but the big think in this art
[BondLady] is that they admit to the 000 in 2012 and to make it diff thru 2012
[BondLady] soon they will run so low that they will have to release the ld's to make up for drying the dinar up on the street
[BondLady] an when they release the LD's they have to release a new rate
[BondLady] a 1 , 5, 10 25 note won’t do them much good without a new rate
[BondLady] or the coins
[BondLady] if u all will bear with me for a min while i try to type this out
[BondLady] follow me on this if u all will
[BondLady] we’ve seen the arts last few days talking about don’t let the dinar rate fall before they pass the budget it would really hurt the budget
[BondLady] last yr
[BondLady] shabibi said back in feb 2011
[BondLady] first i want u all to remember something
[BondLady] remember when the last yrs budget
[BondLady] and the goi was saying cbi should back the budget for what they didn’t have money for cbi should back it
[BondLady] and cbi said no
[BondLady] cbi is independent
[BondLady] and maliki filed a lawsuit with the feds trying to take over the cbi to get to its reserves
[BondLady] and the feds came back and gave maliki approval?
[BondLady] so feds gave maliki control
[BondLady] and shabs fired back
[BondLady] and filed his own suit basically told maliki he wouldn’t play an see him in court
[BondLady] so shabs won’t bs the cbi back from maliki
[BondLady] it was because they wanted the money to back the budget
[BondLady] now let me grab this article from back then feb 2008 and ty easy rider from DV for bringing it back to life
[BondLady] some times to see the future u have to see the past again
[BondLady] so that was feb 2011 when they was trying to get funding for the budget
[BondLady] and shabbi came out and said to them after he won his suit against maliki that said the cbi is independant
[BondLady] and what the cbi's work was
[BondLady] an said although the cbi will help with some things
[BondLady] he had already told the goi what they needed to do and laws to pass an things to implement
[BondLady] to build the economy up as well as the dinar
[BondLady] let me grab the art
[BondLady] depending on which translation or translator u use
[BondLady] it pretty much means the same
[BondLady] Shabibi: the independence of the Central Bank of the umbrella of a protector of state funds On: Tue 08/02/2011 13:23 Baghdad (news) .. called Central Bank Governor Sinan Shabibi bank independence because the umbrella of a protector of state funds. Shabibi said to correspondence Agency (news): "The granting of independence to the Central Bank is of great significance because the umbrella of a protector of state funds," adding: "But The government that I understand that the bank isolated it, but we are working with the market and the government significantly. " He added Shabibi: can not separate the government and the Central Bank because the importance of monetary policy depends according to the law on cooperation with the government. He noted that the basis of the economy, the Bank is to fight inflation, which gets because of the government or the private sector, and works on the application of monetary policy both in the interest rates to stabilize the growth and support the banks in the crisis through direct coordination. and Shabibi: The Central Bank of the follow-up budget allocations for government to control drainage and reduce the processing imbalance .. / ended / (3. t. m)
http://www.ikhnews.com/news_view_8170.html
[BondLady] “The Central Bank of the follow-up budget allocations for government to control drainage and reduce the processing imbalance”
[BondLady] “And Shabibi: that the central bank will follow the government’s budget allocations in order to adjust the exchange rate and reduce address the imbalance”
[BondLady] so we saw this a yr ago
[BondLady] and here we are again with the budget needing to be passed
[BondLady] see last yr
[BondLady] shabs said pass the budget an ill help u by adjusting the exchange rate
[BondLady] but shabs didn’t have to do any of that last year
[BondLady] because the goi fought about the salaries and things for almost half a year
[BondLady] and by the time they finally passed an activated the budget
[BondLady] it was already into june and july
[BondLady] so shabs being the smartie he is didn’t have to give them any money at all knowing they’d have left over money from the 2011 budget as they opened it so late in the year
[BondLady] no jobs were able to get finished in 5 or 6 months time
[BondLady] this is 1 of the huge reasons they want to open the budget as close to "on time" as iraq can get
[BondLady] so we know they have yet again the biggest budget ever
[BondLady] as they did also last yr
[BondLady] but this year is to be different
[BondLady] this year iraq stands on their own
[BondLady] and for real this time is to begin to rebuild their country
[BondLady] without us there to employee and sponsor them
[BondLady] they need to open the budget
[BondLady] pass it
[BondLady] as shabibi said last feb
[BondLady] he would help with the overages if they were worthy
[BondLady] he’s not gonna agree to some of it
[BondLady] there stupidity at making their budget more about their salaries and there benefits yet again while 33,000,000 people suffer from living conditions, lack of food, jobs housing water electric
[BondLady] as the kurds had said if they had waited on baghdad
[BondLady] they would still only have 2 hours of electricity a day
[BondLady] kurds don’t wait the move and they produce
[BondLady] they did in a very short 5 or 6 months in the 2011 budget
[BondLady] used all the money in the budget set for kurdistan
[BondLady] no other province did
[BondLady] kurds did though
[BondLady] and maliki in this budget
[BondLady] has tried to stop the forming regions by giving the provinces more say so over their money and budgets and contracts
[BondLady] to appease them for now
[BondLady] later on i feel iraq will become similar to us and have states or regions
[BondLady] like the united states of iraq lol
[BondLady] but still it’s just a example
[BondLady] but maliki is doing a lot of things to try an hold the country together
[BondLady] and giving within the budget 1 share of iraq oil to each citizen
[BondLady] will need a hcl
[BondLady] and as we’ve seen them say in articles in the last few days they have moved 2000 families off the borders and relocated them
[BondLady] that’s article 140
[BondLady] they had said before in previous articles
[BondLady] they were moving what they could
[BondLady] but it wasn’t easy because it cost a ton of money to do this and they didn’t have it
[BondLady] they also said it would be done or started by march 2012
[BondLady] well it was already started as the articles have shown us
[BondLady] 2000 families were moved
[BondLady] so they must be meaning to hopefully complete art 140 by march
[BondLady] so then we edge back to the budget things as both of these things in 1 way or another are in the budget for 2012
[BondLady] so shabs back in feb 2011 says ill help u with what u need if it will promote the economy without hurting the reserves
[BondLady] the reserves is used to back the currency in circulation
[BondLady] and as we witness shabs drawing back into the cbi trillions and trillions
[BondLady] up to the point he will have to change his monetary policy
[BondLady] and stop the programmed rate
[BondLady] release the lower denominations
[BondLady] as we saw in articles where they completed the 1st phase
[BondLady] and they have the machinery and are ready to use it
[BondLady] whether it be the de la rue machines they bought or it be the lower denominations to release
[BondLady] 1 way or the other we’re close
[BondLady] and the parliament agrees also an now sees how removing the 000 from the iqd will help and raise its value
[BondLady] as always i hope I’ve helped u all my members who try so hard to study and learn without being spoon fed by gurus who thinks there time is more important than anyone else’s, who think they walk on water themselves
[BondLady] their egos have taken them to places they will have to 1 day be accounted for
[BondLady] i hope I’ve helped u all in understanding and as always i pray I’ve been accurate with my info or translations
[BondLady] drops the real mic and walks off | |
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