Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeYesterday at 6:02 am by Ditartyn

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeSat Mar 23, 2024 9:25 am by swizzlestick

» ZIGPLACE
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

» Did Okie Die?
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeMon Mar 04, 2024 11:34 am by Arendac

» Hello all, I’m new
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeWed Jan 31, 2024 8:46 pm by Jonny_5

» The Renfrows: Prophets for Profits, Happy Anniversary!
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeWed Jan 31, 2024 6:46 pm by Mission1st

» What Happens when Cancer is treated with Cannabis? VIDEO
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeWed Jan 31, 2024 8:58 am by MadisonParrish

» An Awesome talk between Tucker and Russell Brand
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeWed Jan 31, 2024 12:16 am by kenlej

» Trafficking in children
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeMon Jan 29, 2024 7:43 pm by kenlej

» The second American Revolution has begun, God Bless Texas
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeMon Jan 29, 2024 6:13 pm by kenlej

» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeSun Jan 28, 2024 3:28 pm by Mission1st

» Tucker talking Canada
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeWed Jan 24, 2024 6:50 pm by kenlej

» Almost to the end The goodguys are winning
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeMon Jan 22, 2024 9:03 pm by kenlej

» Dinar Daily Facebook Page
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeMon Jan 22, 2024 3:34 pm by Ponee

» The Fundamentals of Finance and Pimpy Live
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeThu Jan 18, 2024 7:17 am by Dinarhater

» Why Won't the Iraqi Dinar Scam Die?
Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 I_icon_minitimeWed Jan 17, 2024 5:19 pm by RamblerNash

Kaparoni - "Keywords" - Dinar Alert News Discussion 3/28/18

2 posters

Go down

Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 Empty Kaparoni - "Keywords" - Dinar Alert News Discussion 3/28/18

Post by Ssmith Thu Mar 29, 2018 9:56 am

Dinar Alert

Kaperoni: We controlled inflation in 2004 and dropped an average of 40% to 5% ... Governor of the Central Bank's "Zora": We have a commitment from the region to exercise supervisory and control our role in the region


March 27, 2018 21:03 Zora / Special: revealed the central bank governor on the Keywords, many of the exciting aspects of the question that took place and spin in the corridors of this huge influential financial institution, with regard to financial reserves during the difficult conditions experienced in Iraq after the collapse of oil prices and enter "Daesh" of the country, pointing out action contributed to "save" the country and won the conviction of the World Bank after he opposed it, as disclosed huge external debt back to the former regime is calculated have not been claimed by one.

​Keywords and said in an expanded meeting with a number of journalists and writers in Iraq at the Iraqi Central Bank headquarters in response to a question of the newspaper "Zora" the role of the central bank in the Kurdistan crisis and how it was agreed with the province regarding salaries, he said that the Kurdistan region from the side that concerns us is the practice of the Central Bank for its role in the region, and they have a central bank is linked to the Ministry of Finance, and we are in the last two years we have made great efforts with the region and with the president of the region directly, pointing to get an agreement to open two branches belonging to us and founders of us in the region, was opened Erbil branch and began his work and authority We took a pledge from the region Exercise our role as supervisory and control, and they are full of acceptance and readiness.

He added Keywords exhibition dialogue: The big challenges in front of the bank after the change in 2003, but it dominated the inflation in 2004 and revealed an average of 40% to 5%, pointing out that the bank reserves achieved high levels, have also been developed internal staff of the bank, and is now working It is without intermediaries, noting that the Central Bank launched an initiative to lend to industrial and agricultural projects and housing fund, which amounted to 6 trillion and 500 billion dinars, of which one trillion and 500 billion dinars for small projects.

He stressed: that the size of the reserve in 2013 reached $ 77 billion, while in 2016 43 billion dollars , under the circumstances that have passed on Iraq after the collapse of oil prices and the invasion Daesh of the country, but now has a reserve of $ 51 billion.

The Keywords: for a qualitative shift in the central bank at the level of the economy, contributing about 20 trillion dinars to save the situation in Iraq, and the purchase of treasury remittances despite the objections of the World Bank, but in the other convinced our point of view.

He explained Keywords: We, Algeria and China Asnfonna that we most countries have reserves, indicating the presence of an external debt of the former regime amounted to $ 41 billion outstanding and is calculated not claimed by one, as the actual external debt of Iraq has a $ 29 billion, the internal debt of $ 42 billion.

He stressed Keywords: that the relationship with Saudi Arabia , and there is good coordination with them, and there is ready to open a branch in Saudi Arabia.

Iraqi Central has the most important advantage of providing it by force after 1980 and on the economic policy, the Keywords said: It represents interest and challenge the biggest and ambition for all countries of the world, the Central Bank of Iraq , unfortunately , despite the depth of the historical and his long, but affected by the war, he loses two elements, the first independence,

It is an important feature of any central bank in the world and is a source of strength, but lost a long time ago, especially after 1980 and after the Iran - Iraq war, adding that the central bank has become a machine for printing in response to the requirements of the government 's currency in order to finance the war over the years, and the dominance of fiscal policy on the political cash Yeh means fiscal policy and monetary control has become linked to the aims of the war.

Among Keywords: the second side which weakened the central bank, is being cut off from the outside world , whether financial dealings or developing Adaute human resources, pointing out that these things put great challenges and great tasks in front of the Central Bank of the process of change.

He continued Keywords: central bank 's target in the first phase after 2004 was to achieve monetary stability because it is important in the control of inflation , which reached record stages, and the great effort his central bank after 2004 was able to rein in inflation and dropped rates more than 40% to 5%, and this was policy is needed and important in achieving the main objective in the function of the central bank.

Keywords: Iraqi Central performs the functions of invisible

Keywords and said: In the past years , got significant developments in the tasks and functions of the Bank, to try to cope with the evolution and fill the vacuum past decades, because the central bank locked into the traditional function of a fight against inflation and monetary stability, explaining that it developments could called horizontal and vertical, horizontal developments are among the traditional functions of central banks, it means in reserves management.

Keywords also confirmed that he did not give any banking company based since taking the post, noting that he first addressed the anti - money laundering and the financing of terrorism.

​He added Keywords: that the functions of the Central Bank of many in our country, but the function of the bank was limited to cash currency only, while the functions of the bank, they are invisible to others, one of them owning the bank all the other all forms of foreign currencies, the Bank is responsible for the management and that these currencies are to be a reserve Negotiable realizable at any time, indicating that the function of the reserve is to balance when what was required, and the balance is also the subject is not exposed to any risk reserve, and the other side trying to achieve the greatest possible return as long as it exists it is deposited abroad.

He pointed out that the balance between these things is a complex process to some extent, where you must achieve a return and at the same time , and there is a lack of going to another direction, and that is not to convert this return to liquidity be difficult at any time you need, all this in horizontal developments and the results of that check greater than was achieved in the past years, due to the diversification of instruments and currency diversification of the Central Bank, as well as employing these reserves and the development of internal staff after he could not perform his work in return on investment, but was done by outside.

Keywords and pointed to the events of major developments , whether individuals or programs, now staff is one of the direct process of conducting these operations without the introduction of intermediaries to this matter, and so there is a qualitative development landscape, and even for gold , we pay him wages store and we found ways can be employed to pay their costs.

On the other central bank function, Alaak said , it leads the oversight function of the financial institutions and non - banking banking sector, and in this aspect got a very big developments, explaining that the two types of banks in general, of which inherited any government old, banks introduced after 2004.

He said Keywords : that the old banks carry all past illnesses, they bear all the consequences of the past and the problems, noting that the Office of an international auditing firm for two years or more work until complete final accounts for the bank Rafidain and Rasheed , and now almost completed but significant reservations, and there 's debt and the circumstances and pitfalls, along with problems staff and systems Interior, especially the Rafidain Bank, it is considered one of the largest banks in the world, but it does not have a banking system associated with its comprehensive branches and can monitor and follow up.

A higher committee to re - bank restructuring Rafidain and Rasheed pointed Keywords that there is a supreme committee to restructure the Rafidain Bank and Rasheed, cutting run is important and is waiting for its completion, adding that the other kind of banks and those founded after 2004, they are modern and entered the conditions of non - natural and focused its activities aspects of peripheral such as selling currency and others have faced many challenges and problems.

He stressed Keywords that the issue of control is important to stabilize the banking sector, it is the objective basis as the side that the financial stability of the country and the fight against inflation, adding that some are now offering this goal on the other goal, and without achieving financial stability of the country becomes exposed to significant risks, about that developed our tools and regulatory banking and built on modern retrospect the foundations of international standards.

Set up an early warning to monitor the banking system , he said Keywords: We started with the banks of the minimum, we have introduced important functions on their formations, and the Central Bank in conjunction with these banks developed and rehabilitation of banks management units and focused on the audit, pointing to the development of equipment early warning in the banks and the introduction of a lot of recent indicators, for proactive control.

Among Keywords: that of traditional jobs that have been developed horizontally, the payments system, explaining that the system of the Central Bank is responsible for all the country 's payments, which take place between banks, means that all traded country instruments pass through this system, which is an important and significant process, It was to fill all the gaps that is possible to create through the trading and settlement and clearing process.

​And on what is described as "flying instruments," Keywords said: This is a big bugbear creates big problems, and was never overcome and no longer exist.

With regard to infrastructure for the system of payments on Order Retail, Keywords explained: it is related to the electronic card system (Key Card), and all kinds of electronic Rtat used, and infrastructure finished so far , Iraq can be used any system for Kartat all also gather through the center located in the central bank, and now infrastructure payment system Palmobail became technically fit for the banks remained only implemented.

He put forward a proposal to the Government for the deposit of salaries of employees in the banks because the system is capable of this process, and actually got the approval of the government , and now a number of ministries and their employees ' salaries were introduced in this system, confirming that it is an important process in which multiple dimensions, as the proportion of users of the banking sector Iraq is not to exceed 11% of citizens make up the salaries of 4 million people, and this ratio will change completely.

He explained Keywords: of the functions of the central bank as well, is the traditional function and currency printing and management, and this simple process may seem, but it is a complex where includes storage, printing, control and specifications of security required and control counterfeiting operations and others, referring to the preparation of a future plan for the issue of the deletion of zeros and change the quality of the paper found.

On the vertical side of the work of the Central Bank, Keywords said , always read in the central bank in the constituent preamble or law that it stimulates economic growth and well - being and others, but through the historical review of the history of the central bank is clear not to invest direct opportunity for him to play the role of economic stimulus, but remained pressure locked into traditional jobs.

He said: We shift the quality of the central bank, and we have introduced large functions at the macroeconomic level is clearly, and one of the problems suffered by the Iraqi economy is the lack of diversity and unilateral economy and the weakness of the productive base of the country, as well as the absence reflected the general budget of the State plans to deal with this the truth, and there are no plans to translate through the general budget of the state in supporting and building and stimulating the productive sectors and the budget.

LINK

Kaperoni: Anything less than 50% is not even technically called hyper-inflation. And the example given of..."inflation in 2004 and revealed an average of 40% to 5%, pointing out that the bank reserves achieved high levels," clearly demonstrates successful monetary policy.

Punisher: Again I would say this could be talking about the lower denoms.

referring to the preparation of a future plan for the issue of the deletion of zeros and change the quality of the paper found.

http://dinaralert.webs.com/apps/forums/topics/show/13474807-we-controlled-inflation-in-2004-and-dropped-an-average-of-40-to-5-governor-of-the-central-bank-s-zora-we-have-a-commitment-from-the-region-to-exercise-supervisory-and-control-our-role-in-the-region

rv2018: Training courses

March 27, 2018

For the purpose of promoting the culture of quality and global standards in the Central Bank of Iraq and its branches, the Department of Total Quality Management and Institutional Development in coordination with the Center for Studies in training courses (the cycle of international quality certificates on 2018/2/28 by 43 participants and the course of the European discrimination model EFQM on 2018/26 and by 31 participants )

https://translate.google.com/translate?hl=en&sl=ar&tl=en&u=https%3A%2F%2Fcbi.iq%2Fnews%2Fview%2F649

Kaperoni:
It seems pretty obvious to me that they are preparing for Article VIII acceptance. These training courses are all related to international standards.


Punisher: I concur with your view Kap!

​Paxx: Great news for sure! But they have been doing banking training since about a year and a half ago so more training by itself does not really get me excited but more triaining in light of the other articles from the CBI or the fact that we are now close or within the 2% spread gets me a little happy. Hopefully a window is approching. Thank you RV2018

Kaperoni: Paxx, there has been training, but not the volume that has been posted the last two days.

Paxx: Yep, I agree Kap, Smile Ty

http://dinaralert.webs.com/apps/forums/topics/show/13474740-from-cbi-training-courses

rv2018: Venezuela to delete three zeros from its currency and Iraq is still afraid of "circumvention"

03.27.18 Baghdad: The Venezuelan government has decided to delete three zeros from its currency to enter into force this year, while Iraq is still cautious in its decision because of its fear of fraud, which is expected to help to tighten and improve the performance of banknotes.

Venezuelan President Nicolas Maduro has ordered a change in the currency unit of the faltering local currency by removing three zeros from its value amid excessive inflation and an economic crisis in the country, Venezuelan media reported.

Maduro said the measure would come into effect on June 4 and would have no effect on the Bolivar value.

The action shows the collapse of the Bolivar, which fell 99.99% against the dollar on the black market since Maduro came to power in April 2013.

But Maduro, according to media, presented the move as a positive development aimed at protecting Venezuela from speculators in the currency market and from a US-led trade war against the Organization of the Petroleum Exporting Countries (OPEC). While the measure appears to be a revaluation, Cash for the currency as the country will not change the official exchange rate.

In parallel, between the governor of the Central Bank of Iraq on the words in an interview with Iraqi media: "The deletion of zeros not because of the value of the dinar, but for the purpose of tightening and improve the performance of banknotes and reducing the use of the dollar locally in circulation and exchange and storage value and standardize the size of banknotes," indicating "The subject of deleting zeros from the currency is ready but needs an environment suitable for its application to prevent manipulation and fraud by the owners of vulnerable souls."

LINK

Punisher: Another Delete the Zeroes article telling the difference with Venezuela! Thanks rv2018.

Moderator: Venezuela also has 4000% inflation vs Iraq's 4%, a rapidly contracting economy characterized by a lack of basic essentials such as toilet paper and eggs, and a little less than 1/5 of the reserves of Iraq. The two really shouldn't even be mentioned in the same article.

This is apples to orances if I've ever seen it. Venezuela will need to delete six more zeroes in a couple years, and it won't be through any Balassa-Samuelson Effect. It'll be, for lack of any real term, the Chavez-Maduro Effect, or better yet, the Robert Mugabe Effect.

Kaperoni: Moderator is correct, a LOP is a sign of failure. Iraq's monetary policy has not failed. In fact, they have been extremely successful with inflation at or below 2% for the last several years. And for tthat reason Iraq's deletion of zeros will be different. See the IMF Article IV for details.

Punisher: Apples to oranges for sure. The point I was trying to make was that this is a topic of conversation over there because they are showing the difference in deletion of Zeroes. Good to see in my book regardless. The project all of a sudden is at the forefront again!

Moderator: kaperoni , I mean, the country is out of toilet paper, Kap. If that ain't the sign of absolute national failure, I don't know what is. Venezuelan socialism is following the same track Chavez' hero, Castro's, Cuba, and it will meet the same fate. In 10 years, everyone in Venezuela will be, by necessity, an auto mechanic, because there won't be a new car sold in that godforsaken hellhole between now and then, unless, of course, one works for the government. In 20 years, you will see 2005 Mazdas being dragged through Caracas by mules, if everyone there doesn't cannibalize each other by then, that is.

Punisher: This refers to lower denoms if I am not mistaken ....and standardize the size of banknotes....

Mike: We definitely don't want Iraq to delete the zero's like Venezuela is, their inflation rate is through the roof and they're making this move to redenominate, like Zimbabwe and other countries. For sure, Venezuela has twice as much proven reserves as Iraq, but they share the same political idealogies; they're both socialist, centralized economies controlled by the government.

The only way this deal will work for us is if they come off Article XIV and move to Article VIII. We need Iraq to embrace the open market economy and slowly raise the value of the dinar through export demand and a growing middle class.

Moderator, I don't see much difference between Iraq and Venezuela, Baghdad has the lowest quality of life ranking on the planet, even lower than Caracas. They've just come out of an all out civil war where most of Anbar Province was leveled, even Venezuela has avoided that, so far.

For years I've heard about the "proper environment" for deleting the zero's and I sure wish someone could clarify that, I mean, what is Iraq's leadership looking for to begin the process? Without a change in legislation that would directly effect the Balassa-Samuelson effect, I don't know how the dinar is going to grow in value. IMO

C Bo: What I find the most interesting is the way this same phrase is repeated in multiple articles.: "The subject of deleting zeros from the currency is ready but needs an environment suitable for its application to prevent manipulation and fraud by the owners of vulnerable souls."--C Bo

Moderator: Sounds like you think they should lop, Mike. Why do you bother with this?

TrixieDinar:
C Bo, Iraq's people have been waiting for this event for years, literally, and this is a quote from the Governor of the Central Bank of Iraq regarding that event. The quote will be repeated, and often.


Zee: Mike, I am also asking why do you bother. There is no comparison between Iraq and Venezuela. Iraq continues to drill for oil and may get upwards of $100 billion in oil revenues this year. Venezuelan oil is essentially shut down. The Venzuelian government is completely socialist and getting worse.

The Iraqi government, although far from perfect, is at least showing a simplance of capitalism with a positive future. I know a couple who live in Caracas who has seen their livelihood destroyed after running a profitable business before the socialist takeover.

I suspect this scenario is prevalent throughout the country. Mike, you are wrong about comparing the futures of these two countries.

TrixieDinar: The Venezuelan Bolivar exchange is 1,000,000 per 20.15 US Dollar.

Paxx: Unfortunately, I totally get Mike's sentiment. Perhaps Venezuela is spiraling down the toilet with no great leaders or plan in place, where Iraq is spiraling out of the toilet with a few decent leaders and assistance of world powers to guide/assist them.

Plus, Iraq gets and will continue to get more and more assistance and attention from the world d/t the geographical importance. Countries have a vested interest in at least Iraq's basic success because that region needs stabilization and Europe needs relief from Islamic immigration. Iraq has a chance. Monetary reform is required for their basic success and stabilization.

​Kaperoni: Mike, the IMF knows much more than we will ever know and they specifically stated the process in the 2012 Article IV which I am sure you have read. If additional legislation was required, I assume that would have been in the instructions.

It was matter of fact that..."staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy.

Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation while keeping domestic inflation low.”

Shengwah: Yeah, I appreciate Mike's sobriety most of the time, but disagree with this assessment. The main difference is Iraq does have a sizable foreign investment in their oil industry, fueled by dollars, whereas Venezuela has confiscated all foreign oil assets and kicked those companies out.

Iraq has shown it can stay afloat (barely) with $30 oil. Venezuela has run their industry into the ground and that revenue is almost non-existant. Iraq can run on dollars. Venezuela doesn't have any. Baghdad even has a zoo, with over 1000 animals. Venezuelans ate their zoo animals. And their dogs. No comparison. Yet.

http://dinaralert.webs.com/apps/forums/topics/show/13474748-venezuela-to-delete-three-zeros-from-its-currency-and-iraq-is-still-afraid-of-circumvention-

*****************
>>>TNTBS's YouTube Channel<<<
Ssmith
Ssmith
GURU HUNTER
GURU HUNTER

Posts : 20495
Join date : 2012-04-10

Back to top Go down

Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 Empty Re: Kaparoni - "Keywords" - Dinar Alert News Discussion 3/28/18

Post by Kevind53 Thu Mar 29, 2018 10:22 pm

Still not gonna see the float you have fantasized over for years.

*****************
Trust but Verify --- R Reagan Suspect

"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18

 Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 2805820865  Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 2805820865  Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 2805820865  Kaparoni -  "Keywords" - Dinar Alert News Discussion 3/28/18 2805820865
Kevind53
Kevind53
Super Moderator
Super Moderator

Posts : 27254
Join date : 2011-08-09
Age : 24
Location : Umm right here!

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum