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Featured Post

Restored Republic via a GCR: Update as of Sept. 23, 2017

Restored Republic via a GCR Update as of Sept. 23 2017 Compiled 1:17 am EDT 23 Sept. 2017 by Judy Byington, MSW, LCSW, ret, CEO, Child Abu...

Wednesday, October 19, 2016

"Currency Overhaul" - Wed. PM KTFA Thoughts, News w/ Frank26


 » October 19th, 2016

Another IMF Requirement for the MR being done ................... Good.

 » October 19th, 2016

The government issued a system of deposit protection .. Parliament seeks to enacted law "enhance confidence" in the banking system

 » October 19th, 2016





 » October 19th, 2016

COMMODITIES................. Being TAXED ............. (From) MONDAY CC ...........
Then there is WEDNESDAY CC ............... Tonight. (7pm EST)

 » October 19th, 2016

Cabinet approves subjecting imported goods tariffs

19/10/2016 - 10:40

Information Office of the Prime Minister, announced that the Council of Ministers decided to approve the subjection of goods imported from all countries of customs duties, noting that this was due to "dumping" the domestic market of imported products and to protect the national product.

Information Office of the Prime Minister said in a statement seen by "Economy News", that "due to the sinking of the domestic market of imported products and to protect the national product Council of Ministers decided at the request of the Minister of Industry and Minerals and agency approval of the subject goods imported from all countries of the fees of customs based on the protection products Act Iraqi. "

He said the office, that "the Council decided to ratify the minutes of the committee formed under the Council of Ministers directed a number 25044, dated 09.20.2016 contained the Book of the Ministry of Finance with the number 1936, dated 10.18.2016 containing the increase of customs duties for certain goods in the minutes of the committee.

 » October 19th, 2016

WALKINGSTICK SIR .............. Show The FAMILY how the IMF drew up the MR Plan ..... Wish to teach it tonight again ..... TY

 » October 19th, 2016


Iraq Said To Be Planning Currency Overhaul, Redenomination

June 24, 2011

BAGHDAD -- A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports.

Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions.

He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of money to pay for expensive items like cars. The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end.

He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions.

In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note.

He said the change was inevitable, considering the economy is expecting high growth in the coming years with a planned increase in oil production to finance reconstruction projects.

Saleh said there were currently some 29 trillion dinars in circulation in Iraq, represented by some 6 trillion banknotes of various denominations, most of them quite small. He said this also caused complications for the Central Bank and government, as well as commercial accounting departments.

Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund, of which Iraq has been a member since 1945.

The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament.

Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/$3.3 compared to $1/1,168 dinars now due to hyperinflation that occurred during the latter part of the late ousted leader Saddam Hussein's reign.

 » October 19th, 2016


In case it was overlooked .................... We have a CC

Have Much to SHARE but for tonight ............... You need to pry it out of me............... With COOOOOOOOOOOOKIES .......... Or questions !!!

 » October 19th, 2016


 » October 19th, 2016

And the back one too ............. Now watch what else WALKINGSTICK is about to put up !!!

 » October 19th, 2016


The opportunity to raise the value of the dinar


BAGHDAD - Mostafa Hashemi

economists and experts describes the Iraqi monetary policy as good as maintained a stable exchange rate under difficult economic conditions and slow march towards progress the country witnessed in previous years , despite Iraq 'spossession of the elements of the economic boom in all productive sectors.

In this context , saw economic researcher State Fair the increase in output achieved anincrease in the entry and financial returns requires finding a balance or equation toensure the continued improvement in the exchange rate with the salary increase to get to the stage commensurate with the productivity of the economy activating the industrial and agricultural sectors to improve the value of the dinar.

Iraq has seen in the last ten years a rise in production and exports of oil at a time when the value of the dinar has seen remarkable stability without high it mentions in purchasing power.

She said just told the "morning" now is the chance, despite the difficult circumstances, to activate the productive sectors as stated in the government program of encouraging theprivate sector and entering actively in the economic development of by relying on its own resources to the private sector and move his money and invested in the development of the economic reality.

She noted that the citizens believe that achieved an increase in oil production to ensure a major boost for dinars at a time looking where to direct positive repercussions on theirstandard of living through the production and export growth, hoping in this matter isresolved through the involvement of the private sector in the development process.

She called economic researcher to develop solutions that contribute to upgrading the reality of living for citizens and create employment opportunities and jobs for graduates and the unemployed through the activation of the private sector because it possesses freedom in his administration and his money away from the bureaucracy makes its production distinct exploited by the efforts and energies of young.

the academic economic Dr. Majid Baidhani said earlier in the "morning" that increase the productivity of the individual worker comes through the activation of the private sector and projects in the productive sectors such as agriculture and industry.

he added: it is necessary to achieve financial incomes through the creation of jobs and opportunities work in the private sector and make it a par with government officials privileges that greatly contribute to the revival of the booming economy, having to rely on the oil industry to activate those opportunities.

He stressed: that the central bank was able through the implementation of a successful financial policies in recent years have contributed a lot in the stability of the market and this is has led his role regarding the improvement of the exchange rate.

He continued: here comes the role of government and the competent authorities tocomplete drawing this picture by providing focused support to the private sector and the implementation of the government program , which stressed the importance in advancing the country 's economy forward. Stressing that the most successful monetary policy is tomaintain the stability of the exchange rate provided increased Alantegeh.oasmah IMF to countries with economies in transition fund implementation of currency controls to stabilize the economy during the reconstruction phase and this is what served as thelocal economy over the past years.

He Baidhani that Iraq now possessed of expertise and economic efficiencies in homes experienced enough for taking the lead and initiate self - reliance for the development of the economy through reform development programs and policies that fit this stage application.
mentions that there are several factors confirms the possibility of the high value of the dinar against the dollar , the most prominent is the presence of a great desire for investors foreigners buying the Iraqi dinar, in addition to having an excellent cash reserve , which covers the local currency, as well as the dinar currency traded publicly in theglobal currency markets.

It is said that the central bank was able in previous years to reduce the price of thedollar against the dinar of 1450 dinars to the dollar to 1166 Dinara , which authorized the bank.

 » October 19th, 2016

JOLLY GOOD !!! ............... I mean ............ TY Sir...................
I dare You to post ............... ANOTHER ONE LOL !!!

 » October 19th, 2016


Economist: Cancel zeros from the currency will raise the value of the Iraqi dinar against the dollar

Sunday 12 April 2015

Baghdad /...qal economic spokesman Antoine, Sunday, the expert cancel the zeros of the Iraqi currency project comes to restructure and reduce the currency in circulation process in the markets at the moment, "dollarization."

Said Antoine's "Eye of Iraq News" that the process of deletion of zeros from the currency is a project proposed in the State Committee in collaboration with theCentral Bank, but under implementation ", stressing that" the purpose of which is to reduce the process of dollarization in the market this time to maintain the dominance of the Iraqi dinar and make it the most heavily traded in the markets and ease the use of the dollar, "adding that" the Iraqi currency sober and accept fraud. "

He added that the confusion that has increased demand for the dollar and the lack of pumping dinars in large quantities by the central bank has increased the demand for more of the show, which led to the appreciation of the currency from the dollar in thedomestic market. "

"The Central Bank on the terms of any transfer must be proved in the papers martyrdom on the importation of goods against the dollar, with the imposition of the tax, which is 8% 0.5% fee Comerk and 3% income tax."It ended 7

 » October 19th, 2016

just beautiful ...

 » October 19th, 2016

I KNOW I KNOW !!!............... Now watch AGAIN what else WS puts up for tonight............... You know IN CASE there is a Wed CC ...........ROTFL

 » October 19th, 2016


Calls for the central bank officially delete the zeros from the Iraqi currency


Committee demanded parliamentary economy and investment, on Saturday, the CBI need to delete the zeros from the currency, indicating that this ground for this action are available exit of Iraq from Chapter VII

A member of the Committee on the economy and investment Mahma Khalil told a news conference attended by the Committee “Twilight News”, “on the central bank to start a restructuring of the currency being a purely economic issue, and that the Iraqi economy is expected to benefit from the advantages we are out of Chapter VII.”

He added that “Iraq is not the only country that deletion of zeros from its currency, Previously Turkey and Lebanon have succeeded to the stability of the economic situation when he slashed zeros from theircurrencies.”

Khalil pointed out that “the draft delete the zeros Old, and demanded by the central bank, but the Iraqi government demanded to wait until the time-saving manner, and after coming out of Chapter VII fell all the justifications for the implementation of this project.”

He said the “Iraqi constitution between the need to change and delete the zeros from the currency as required by the economic situation of the country, and for the benefit of the Iraqi people.”

For his part, criticized the committee member MP Abdul Hussein Abtan “survival of the zeros of the Iraqicurrency. “

He explained, “is not reasonable to have the Iraqi Central Bank reserves and $ 76 billion so far to deal thousands.”

The CBI said, earlier, that the year 2013 will see the deletion of zeros and the currency exchange, and pointed out that the current currency formed a cluster of large cash estimated at 30 trillion dinars.

He pointed out that the central bank strategy of deleting three zeros and the currency exchange will be at the beginning of a new year and a new budget of the Iraqi state,and predicted that the currency is altered in the new fiscal year for 2013.

Economists see specialists that changing the Central Bank Governor Sinan Shabibi and his deputy, theappearance of Mohammed Saleh and a number of bank officials and bring them to justice on charges of mismanagement and corruption impact negatively on the project to change the currency and raise zeros.

FrostyTheSnowman » October 19th, 2016

Frank ... Do you always have to be right?!!!

For once, I was hoping that Iraq would not drag things out until the last nanosecond.

TOMORROW ... is 30 days from the "agreement" between A and O


TONIGHT ... is Frank's Dessert Call ... IMO ...( Starts 7pm EST)

God bless America ... keep our troops safe ... and help us make America great again!!!



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