BillA: Currency Auctions?
That is the old term.......They are now called Cash Sales. IMO Nothing more than Currency Exchanges.
Please keep in mind that Iraq still does not have a currency that is internationally accepted so if anyone in Iraq travels anywhere, they would have to have a currency that is internationally tradable. Thus since Iraq has been using the USD for trade in Iraq, it just makes sense that they would exchange Dinar for USD when traveling. This also includes the Kurdistan region.
As Frank (and articles) have been telling us, the currency sales have been transformed to keep Iran from getting USD. Blessings,
Don961: Prof.Dr. Mahmoud Mohammed Dagher: * It is the exchange rate, gentlemen
While the exchange rate tends to indicate the number of units of one currency versus one unit of another currency, its changes, and this is important, reflect the monetary equation for deducting part of the purchasing power (when reducing), and enhancing the purchasing power of the monetary unit (on the rise),
The problem associated with deduction or enhancement is that it enters the purchasing power without taking into account the income segment, ie, it is an additional tax at (decline) and additional income at (rise) without correlation with the level of income.
Therefore, the choice of the Exchange Regime system is central to following the results of exchange rate fluctuations (currency value) as well as determining the channel of transmission of its effect to the real macroeconomic joints.
The significant effect of currency fluctuation or change has been reflected in the exchange system option between a multi-spectrum floating system and a multi-spectrum fixed exchange system (Peg). It is rare for monetary authorities to clearly state the nature of their exchange system (de jure), but the actual transactions (de facto) are determined by specialists on the basis of the exchange system and its specific spectrum.
We conclude that the financial crisis represented by the low exchange rate leading to the erosion of power
Any devaluation would change the purchasing power of income downward without taking into account the modest income brackets. Find out that the financial crisis of the low exchange rate leading to the erosion of purchasing power in Lebanon and Iran differs from that in Iraq and if they are synchronized between them. (Forced in Lebanon) represents the worst monetary policy options.
To continue reading click on the following link
Mahmoud Mohamed Dagher - it's the exchange rate, gentlemen, editor LINK
Don961: IMO ... IN OTHER WORDS ACCORDING TO THE LAST STATEMENTS OF THE ASTUTE PROFESSOR... KEEPING THE EXCHANGE RATE ARTIFICIALLY LOW ONLY HURTS THE PURCHASING POWER OF LOWER INCOME CITIZENS IN ADDITIONAL HIDDEN WAYS .. SOOOO .. IN LIGHT OF WHAT THE PROTESTORS ARE DEMANDING FOR DECENT JOBS , DECENT INCOMES AND DECENT LIVES ... THE ALTERNATIVE WOULD LOGICALLY BE TO STRENGTHEN THAT RATE ... INCREASE THAT PURCHASING POWER
Don961: Sistani calls for "new elections"
by vBulletin by Ali EjamIraq News11 Hours ago
BAGHDAD - AP, Reuters and AFP
BAGHDAD (Reuters) - Iraqi security forces fired live ammunition and tear gas at demonstrators in central Baghdad on Friday, killing three people, the Shi'ite authority Ali al-Sistani reiterated the need for a new election law.
Renewed clashes on Friday afternoon in Baghdad's Khalani Square, riot police fired shots and gas at hundreds of protesters who removed concrete barriers and poured into the square.
Iraqi health and security officials said three protesters were killed and at least 25 wounded, bringing the death toll to four in the past 24 hours.
Sistani calls for a new electoral law
In the meantime, Sistani stressed in his Friday sermon his support for the demonstrators, saying that none of their demands have been met so far and that electoral reforms should be a priority.
He called for a new election law that would restore public confidence in the system and give voters the opportunity to replace current political leaders with "new faces."
He added: "A new law must be adopted for a new electoral commission that is neutral and credible without external interference because of the risks of turning the country into a arena for settling accounts, the biggest loser is the people."
"If they have the authority to think that they can evade the real merits of procrastination and procrastination, they are delusional," he said.
He added that "citizens did not go out to the demonstrations calling for reform in this unprecedented form and did not continue on it with all the price and sacrifices demanded only because they found no other way out of corruption and destruction."
Sistani has announced his support for a road map proposed by the United Nations Mission in Iraq to meet the demands of the demonstrators, but expressed concern about the lack of seriousness of political parties on the implementation of the proposed reforms.
At least 320 people have been killed and thousands injured since protests began on Oct. 1 against corruption, job shortages and poor basic services despite the country's oil wealth. LINK
Fuze: This is what I've been talking about for over a week now. The UN plan is the KEY that unlocks the bank vault guys, for many reasons... But one is supreme ALL parties especially the Demonstrators trust the UN. Be convincing the crooks in the GOI, that the UN plan is not only the best solution it's there only solution... Not the reforms they are passing off now as progress... They mean little!
Don961: A deputy intends to investigate the auction of the currency and confirms the possession of the names of those involved
2019 - 11 - 20
A member of the Parliamentary Integrity Committee high Nassif, on Thursday, the committee's move to open an investigation auction currency, indicating that there are a lot of personalities involved in this area will be referred to the judicial authorities.
Nassif said in a press statement, "The Parliamentary Integrity Committee, especially after the completion of a law from where you get this, it is headed towards opening the currency auction in the Central Bank."
She added that "the Chairman of the Committee will form a team of members of the House of Representatives in order to open an investigation auction currency, in addition to the Office of Financial Supervision expressed cooperation with the Commission on Integrity and confirmed that there are files ready on the auction of currency."
She pointed out that “next Saturday will be the formation of the said team to investigate the auction of the currency, and referring the perpetrators to the judiciary, where there are indications of some people who did not have property before 2003, while they find owners of banks and large property, and therefore the law from where you will apply this on them".
She stressed that "the Commission on Parliamentary Integrity owns the names of banks and personalities involved in corruption of currency auction, where there are many of them used the period after 2014 to increase its funds." LINK
Don961: Deputy: No immunity to officials before the law Where did you get this?
Friday 22 November 2019
Baghdad / morning
Al-Delphi, a member of Al-Nasr coalition, said on Friday that the law "from where you will this" will include everyone, whether those in power or those who have become outside, pointing out that officials will not have immunity before this law and will be held accountable by the judiciary and integrity of what they have.
Delphi said in a press statement: «Law from where you will fight a lot of cases of corruption that have continued since 2003 and to this day, and is a bullet of mercy in the body of many politicians, ministers and general managers», stressing that «Parliament is determined to legislate all laws that Eliminate corruption and corrupt, to recover the money they stole and returned to the state ».
Delphi added that «law from where you get this, will not keep any immunity for officials, and will include large and small in the state, and will make Iraq on the right track to maintain public money and give the judiciary more space to issue judgments against spoilers», noting that «the judiciary and integrity are responsible for the implementation This law, where the files will not be forwarded by Parliament, as files will be limited (where you get this) to the mentioned bodies to include everyone without Exception". LIN
Samson: A huge fire with the Iranian "treasure of money" near the Iraqi border
23rd November, 2019
The mayor of the city of Khorramshahr in the province of Khuzestan in southwestern Iran has put out a huge fire in a commercial complex in the city.
Aziz Saadi told Fars news agency that the large fire that broke out in the "treasure of money" commercial complex in the city's free economic zone was put out.
He pointed to the use of fire brigades in the incident from neighboring cities Abadan, Mahshahr, Shadakan and Bandar Imam, in addition to Khorramshahr. "Fortunately, this fire caused no casualties," the mayor of Khorramshahr said.
For his part, an official of the emergency center of the Faculty of Medical Sciences in Abadan said eight people were injured by the fire of the commercial complex in Khorramshahr and they were receiving treatment in hospitals.
The fire broke out in the huge commercial complex of 250 shops on Friday evening and was extinguished six hours later.
Reports said the blaze in the warehouses damaged 30 percent of the mall and caused heavy material losses. LINK