BLC Admin Tlm724 News & Comments

Some straight analysis of the news ... kool-aid free!  

02/02/2014

National Economy 2/2/2014 0:00 BAGHDAD - Shkran Fatlawi

manager called the International Centre for Consulting and studies to the need to reconsider and review and amend the Banking Act

[tlm724] the need to reconsider and review and amend the Banking Act, leading to the liberation from the constraints in order to be launched towards strengthening the capacity of the national economy and rise to the level of performance and giving banks advanced in the world

[tlm724] pointed out that the decisions issued became the one hand, a state which reflected negatively on the reality of Iraqi banks, pointing out that he can not be that there will be investment in the world unless there is a free banking system

[tlm724] get that New Banking Law passed then let it fly, open the door to the world !

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Banking products 2/2/2014

[tlm724] the importance of training and rehabilitation for the Angels governmental and private banking and the development of skills in accordance with the standards of international banking and Basel 3 and take advantage of the lessons and the lessons derived from global crises over the past years and its impact on global economies.

[tlm724] in accordance with the standards of international banking and Basel 3

[cowboy1] basel

[tlm724] cowboy1 yep and they are achieving that too

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35 trillion dinars, the volume of cash in circulation 2/2/2014 0:00

Selling gold to the citizens aims to be towed

[tlm724] the withdrawal of liquidity from foreign currency amounting to - according to an official - 35 trillion dinars

[tlm724] the sale of gold to the citizens as well as Treasury Notes and the dollar would ease the liquidity as well as he promotes price stability.

[tlm724] that this measure would diversify the means savings for citizens and raise the purchasing power of the currency is likely to witness the price of gold marked decline his request in the market.

[tlm724] raise the purchasing power of the currency ! *hallelujah* raise the power !

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Scaling the phenomenon of amplification enhances the dinar exchange rate 2/2/2014

[tlm724] that monetary policy is one of the most prominent economic policies aimed at achieving economic stability and stabilization of the exchange rate

[tlm724] that the central bank has succeeded in achieving a large reserve foreign exchange amounted to more than 80 billion dollars and 30 tons of gold.

[tlm724] Indicating that fixing the exchange rate of the Iraqi dinar against the dollar key in (the dollar) is considered to be necessary and appropriate, and had a foreign currency auctions held by the Central Bank of Iraq played an important role in maintaining the appropriate level of the exchange rate and install it

[tlm724] It helps the confidence in the local currency to create the conditions for strong and deep in the stability of the financial system

[tlm724] And that the power to address the dollarization, is a measure of the effectiveness of monetary policy in the provision of reference moving to make the Iraqi dinar more attractive

[tlm724] moving to make the Iraqi dinar more attractive *hallelujah*

[tlm724] to support actions that will strengthen the position of the Iraqi currency and stability and without coordination between fiscal and monetary policies

[tlm724] work it !

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Specialize: the central bank will control the gold market and break the monopoly of traders

[tlm724] as pointed out that the increase in demand for buying gold, "indicating a recovery situation of living of the citizens,

[tlm724] the Iraqi market imports about" 5 tons of gold per month which is the largest amount in the history of Iraq.

[campdav] Gold a hedge to their worthless paper

[campdav] WOW 5 tons a month

[tlm724] yep working on their liquidity campy

[campdav] tlm724 Nice

[tlm724] The Iraqi Central Bank has decided, in (January 23, 2014), "SEC assortment of gold bullion" to sell gold to dealers, investors and segments of Iraqi society, as he emphasized that "this action represents one of the tools of monetary policy to the Bank."

[tlm724] "this action represents one of the tools of monetary policy to the Bank

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Oil: Iraq will become the most important sources of global energy

[tlm724] Iraq will soon become the "most important" sources of energy in the world *mission*

[tlm724] that Iraq has oil reserves "of 143 billion barrels and accounting for 10% of global reserves," and explained that it aims to produce nine million barrels of oil per day by 2020, stressing that Iraq needs to train 500 thousand employees to cover the needs in the major oil and gas sectors.

[tlm724] needs to train 500 thousand employees to cover the needs in the major oil and gas sectors.

[tlm724] wow that should curb the unemployment a bit

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The owners of hotels and tourist restaurants in Najaf object to new taxes controls

[tlm724] so that art^^ hotels etc...are suffering because of the tariffs, Iraq needs to increase the purchasing power before these kind of businesses collapse, just sayin...

[tlm724] and more businesses will follow suit, like a house of cards falling