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Banker: reduce the width of the dollar in order to reduce the money laundering process reflected neg

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rocky
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Banker: reduce the width of the dollar in order to reduce the money laundering process reflected neg

Post by rocky on Thu Mar 28, 2013 1:46 pm

Banker: reduce the width of the dollar in order to reduce the money laundering process reflected negatively on the market



Baghdad Emphasized investment bank adviser Nafie funding Elias Abou, that the process of reducing the sale of hard currency in the market would not limit the process of money laundering and will reflect negatively on the dollar exchange rate and high prices in the market.

Said Abbou told the independent press (Iba) "The withholding dollar on supply significantly and reduce led to higher prices in the market and increased demand for it, noting: that the central bank has taken the views of reducing dollar selling in the market to eliminate the process of washing Mawal but led this procedure to higher prices and reflected negatively on the local market. "

He explained that "the high exchange rate of the U.S. dollar against the Iraqi dinar led to higher prices for imported goods posing a danger to the increase in inflation and rising commodities in the local market."

He explained that "the lack of dollar supply pushed traders to raise the prices of imported goods in dollars to offset currency dinar at a high rate to make up the shortfall and get a profit shortly."

He Abbou "said the central bank put new instructions to create a balance between the dollar and the dinar and control the rising prices of goods in the market by reducing the sales lists and rely on open letters of credit to see stages of the dollar and going to the important things."



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wciappetta
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Re: Banker: reduce the width of the dollar in order to reduce the money laundering process reflected neg

Post by wciappetta on Thu Mar 28, 2013 2:30 pm

Reduce the the width or increase the value of the dinar which is totally different in impact to inflation than simply knocking zeros off notes ... One is a psychological visual impact the other is an actual increasing of strength as opposed to the other, which is exactly the solution this banker is correctly advocating.

The hydrocarbon wealth of Iraq makes such a move possible .... Again since Wall Street allows oil companies to book oil reserves yet in the ground as an asset on their books, then so can Iraq take advantage of the same financial benefit. Reduce the width, restore to the former....


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