Facts and oddity of the changes related to improving the game Dollar in Iraq
Basil Abbas Khodeir
Friday 0.13 March 0.2015
It is known to all, the official currency of Iraq is the dinar, but the reality of the situation indicates that such a big lie because everything is denominated in the price of the dollar, and the reason is very simple, which is that most of what depends upon people, goods can not be produced at home, but is imported from abroad in dollars and most of Iraq's revenues are from oil exports, which grab Akiemha dollar, and this feature (prevailing) encouraged countries that import them to sell their goods to our merchants at low prices, no love for the Iraqis, but to get a dollar out of Iraq formal ways impeccable, so it is not surprising can find the prices of goods in Iraq less than the prices in the countries from which we import them despite the presence of the expenses related to transport and fees and add profits for traders, and because of this game, too, countries that import them retain a large amount of Iraqi currency bloc markets, because they know full well that the Iraqi dinar is covered foreign currencies and gold, which means that it owns part of those currencies, even if handled dinar because the Iraqi dinar easily converted to the dollar.
Since more than ten years we have lived reality imposed on us the Central Bank of Iraq, under the preservation of the Iraqi dinar exchange and protect citizens from price fluctuations and provide the needs of the people of the dollar price of the cover, has created this bank auctions selling the dollar, which extends to five days a week, which was sold through Hundreds of billions of dollars, and some of these hard currencies went smuggling, money laundering and others went to dealers, the things uncovered part of the investigation into the sales of the Central Bank and the replacement of his administration, and today said the central governor of Iraq, Mr. Ali Alak, the existence of smuggling hard currency abroad, did not hide his doubts on the involvement of civil banks already submitted forged documents to buy dollars from the central auction, and this statement came after the dollar rose to 1300 dinars, despite the fact that the exchange rate of the Central Bank in 1168 dinars per dollar at auction Yum Tuesday, 3/10 / 2015, meaning that one dollar profit is 132 dinars, and this profit does not come from the sweat of the brow or risk but by swapping papers papers.
As a reaction to this (farce) to dispel the wealth and (fattening) rich, has the Finance Committee of the Council of Ministers by adding Article 50 in the draft federal budget for the year 2015 law, which includes determining the central bank sales Aqa to no more than $ 75 million a day and put controls for these sales, has sought from the concerned matter who control the exchange rates to hide the dollar from the market, despite the fact that this article has not been applied only on 11/3, raising the price of the dollar in the domestic market from 1200 to 1300 dinars and in the right harm citizens because all commodities are denominated in dollars, as a means to pressure the authorities concerned to return to the previous policies in open auction currency sales wide the, which Ga Council of Ministers in its tenth meeting on Tuesday to take a decision to challenge the Article 50 of the budget 2015 law, this decision WYSIWYG for two reasons. First, it Written from the House of Representatives without the knowledge of the government, and the second that this determination is contrary to the Iraqi Central Bank, which was invented by US Ambassador Paul Bremer, known Bojindath destroyed Iraq's future law.
Certainly, the government will gain appeal, has announced the bank's governor (proxy) for the next policies, which include proceed with the adoption of new mechanisms, notably to reduce dependence on the auction currency window in order to maintain the stability of exchange rates and enhance the value of the dinar, and secure hard currency to the Iraqi market and follow the way different check for which was previously the adoption of the way remittances electronically, instead of documents that were formerly banks provide a means of speculation in the markets and reap the profits and keep banks from the real activity, and accused some companies, non-bank and even commercial and business transformation of their activity to speculative currency, taking advantage of ease procedures and guaranteed profit and fast, as this cover parties became to facilitate many processes related to smuggling money, promising to provide the country's need of cash to cover the passengers and the cost of treatment, etc., and pointed out that the size of the reserve, which is owned by the Central Bank exceeds the monetary mass one and a half times, allowing control on the currency and there are no fears of the process of selling the dollar against the dinar.
Means these statements that most of what followed the CBI, which were sold through about $ 400 billion was a mistake and it was time to correct, we do not know Is that the previous sales will pass on the way God forgive all of the foregoing, in the same way wasted a trillion dollars from the budgets of Iraq for the past years, which explosive development or modest on the ground, or is it that did not happen it will be subject to scrutiny and investigation that follow the rule came out and no longer in connection with investigations in Iraq, and ensure that the new policies of the Iraqi central will be better than its predecessors after it was central administration with the names of the experts on the high degree of efficiency, integrity and competence, the issue is not related to the issue can Altagazi them because they belong to the money Iraqis spent and turns of the dinar to the dollar and vice versa in a way did not understand the secrets of the Iraqi citizen, who was still a prisoner exchange rates imposed by banking offices that change from day to night, where he started did not have the real opportunity for citizen (unusual) to get one dollars at the CBI exchange of dinars in 1166, despite the fact that the goal of selling the dollar to follow the policy of the auction is to protect citizens from price fluctuations and provide the needs of the dollar.
Speaking of the citizen, it often asks why are traders selling the dollar Dinars for the purpose of covering Astiradathm and while the sale of imported goods to distributors be in dollars? , Which means that there is a game on how to get the merchants on the dinar, although they do not sell dinar nor deal done only for the purpose of purchase of the auction, and we believe that the central bank's policies (new) should focus on this issue, and try to reduce the role of the shops banking that govern exchange rates , by selecting a fixed rate of exchange rates, even for a specified period, if the price is 1200 dinars per dollar, our situation so if most of the countries where the exchange rate does not change, even though it has weakened economically from Iraq, including Lebanon and Jordan, for example, and for the purpose of supporting this proposal, the possible to allow the dollar to citizens through the payment of a percentage of the employees' salaries in dollars, it is possible that the ratio is 10% of salary, and is easy for the dollar to be in possession of the citizen to be a citizen's part of the game the dollar and not speculative offices, trading and smuggling, which often makes the victim citizen This (the game), and that this action can continue to address the issue of corruption when the whales dollar and get rid of the control (dollarization) on the national economy.