Don961: Housing development boosts the dollar cycle in the markets
Sunday 02nd May 2021
International economist Muhammad al-Najjar urged to attract the monetary blocks hoarded in homes to the field of work, by creating outlets that attract this money in a direction that benefits both parties to the process.
He said: “The dollar cycle around the world revolves 23 times, while inside Iraq it continues three cycles and hoardes, and this matter does not serve the capital cycle in this aspect, and here we can benefit from global experiences, where the citizen works to operate his sums, he does not hoard them. Here it will benefit the country and its personal economy by adopting sound mechanisms through the stock exchange or investment companies Contribution ».
It is noteworthy that the World Bank reports indicate the existence of a dollar block in Iraq, which does not find access to the economic process that attracts capital this is.
He pointed out that «the development of the housing sector leads to the creation of a major economic movement and provides many job opportunities for the skilled and unskilled labor within this sector and in other supportive sectors, and attracts a large proportion of the hoarded cash mass Iraq". LINK
Zelmo: If I read this article correctly, we are being told that the Iraqis are still hoarding their money in their homes. If correct, isn’t it possible that the CBI is still trying to collect more of the large denomination dinars; hence, which would explain (IMO) why 1-to-1 either has not occurred or is not being publicly released.
DoopWoodz: Imo...Im sure someone somewhere knows the real reasons behind the scenes. I can pose a positive spin on this though.
We know there is a second set of books in use. Or was.
We know that they are supposed to be 1:1 DIGITALLY.
We know that Iraq has agreements with MANY countries concerning trade which must involve the exchange rate, and no country wants to deal with a program rate.
My thoughts are they will reveal it to the world when they have reached their benchmarks. I believe the agreements they have with the international world are already in effect with the new rate.
I believe when the amount of 000’s that they are recovering dwindles down to almost nil, that’s when they pop out with the NSCN’s (New Small Category Notes) and the new rate to the citizens.
Remember that when the citizens have it, the world is right behind them! Game over.
Notice the article out about Ministry of Culture talking about hurrying and gettin on with the digital transformation! Progress is being made in a hurry and it can only be for one reason. They want that rate out to benefit the citizens! It won’t work without them and OH BABY is it going to work with them!!!
MilitiaMan: Deepwoods, well done. It also suggests not only housing but the stock market will be a mechanism to stimulate growth and support the economy. Imo Adjusting the rate accordingly will attract that hoarded money, as by investing their hoarded money into the ISX will increase value based off supply and demand.
The more the money flows in, the higher stock prices go which in turn supports the economy from buying and selling local products.
The NIC has already started the campaign for investors to come apply for opportunity to invest in many sectors specific ones and many of them.
Yesterday was to be a day where the Iraq Trade Bank was to start the Interconnectivity of digital Dinar and the Dollar. If that connectivity has in fact been put in place electronically, then it would seem that the ISX will need the same ability electronically.
If they are opening to the world and they are imo, the borders crossings are already waiting and ready.
The logistics are far more complex than what Final Articles ever mentioned.. imo It surely has been a remarkable amount of progress to get this far. I agree with many there is no turning back.
The pressure has been turned up once again and the citizens are speaking very loud!!
The politicians may want to be very careful holding back and influencing the lack of retroactive payments. If the citizens find out they are the hold up of them getting them to them, it won’t go over well and they’ll vote em out!! Or even worse.. lol
There is plenty of data out from prominent economists the even of recent mentioned clearly that there is to a focus on the matter and that the HCL needs to be sorted and quickly for the whole!!
Digitization will have that taken care of. A level playing field with the smart technology initiative in mind will set this in motion quite quickly. At least it sure looks that way!!!
All the work to date shows me that they are not stopping and the corrupt are seeing evidence of that fact more and more as Kahdimi is after them and he appears to not be stopping.
A good thing on all fronts imo- MM