Samson: Parliamentary Honest : Returning The Dollar Exchange To Its Previous Price Is One Of Our Priorities
23rd January, 202
On Sunday, The Representative Of The Al-Sadiqun Parliamentary Bloc, Rafiq Al-Salihi, Confirmed That Returning The Dollar Exchange Rate To Its Previous Price Is One Of The Priorities Of The Al-Sadiqun Bloc And Other National Forces That Share The Opinion With It.
Al-Salihi Said In An Interview With “Al-Ahd News”, “The Al-Sadikoun Bloc Will Pay Great Attention Through The Legislation Of Laws That Serve The Poor Segment.”
He Added That “Returning The Dollar’s Exchange Rate To Its Previous Price Will Be One Of Our Priorities During The Upcoming Sessions,” Stressing That “The Continued Rise In The Dollar’s Exchange Rate Has Caused Very Serious And Great Damage To The Poor And Low-Income Segment.” LINK
Samson: Al-Fatlawi: The 2022 Budget Will Not Be Passed Until The Dollar Is Returned To Its Old Price
23rd January, 2022
A Member Of The Coordination Framework, Ali Al-Fatlawi, Confirmed Today, Sunday, That The Draft Budget Law For The Year 2022 Will Not Be Passed Until After An Important Condition Is Met.
Al-Fatlawi Said In A Press Interview Followed By Al-Ahed News, “The Coordination Framework, Through Its Presence In The Iraqi Parliament, Will Work To Restore The Dollar’s Exchange Rate To Its Old Price, And Otherwise, It Will Not Allow The Passage Of The 2022 Budget Bill Until After This Condition Is Achieved. The Important”.
Al-Fatlawi Added, “There Is No Current Justification For The Dollar’s Exchange Rate To Remain In Its New Form, Especially With The Significant Rise In Oil Prices, And Raising The Dollar’s Exchange Rate Has Greatly Affected The Lives Of Citizens, As It Raised Prices In The Market, And Contributed Significantly To Increasing The Poverty Rate, Which Is Why We Are Serious About Restoring The Price To Its Previous Position.” LINK
Samson: Changing the price of the dollar .. a government desire to walk in it and a parliamentary movement to return it to its previous era
23rd January, 2022
More than a year has passed since the Iraqi government decided to change the exchange rate to 1445 dinars against the dollar, but the rise in dollar prices and the recovery of the state treasury prompted several political blocs to move to restore it to its previous era before raising its value estimated at 1190 dinars.
Despite the words of Finance Minister Ali Allawi, that “the decision to raise the value of the dollar contributed to stopping the layoffs and increasing the reserves of the Central Bank,” but the economist Rashid Al-Saadi considered, “The process of changing the dollar exchange rate was catastrophic for the economy, and there are a number of solutions to realize it.”
Al-Saadi added in an interview with “Mawazine News” that “the state had to resort to other methods to compensate for the lack of treasury resources, such as controlling the resources coming from the border outlets, including the region, and oil resources exported from the region, and depositing revenues of 260,000 barrels to the SOMO Company on a daily basis.
Investing in operating idle projects and mobile phone companies that drain large sums of money from citizens, in addition to transportation projects in general. He points out, “Our demands are many to reconsider the dollar exchange rate, but the state is not serious in this regard, and because its impact was on the fragile middle and poor classes, it will not cause any shock to the market if the exchange rate is restored to its previous value.”
The statements of the political blocs were renewed regarding changing the exchange rate to its previous era. The representative of the extension bloc, Alaa Al-Rikabi, spoke about efforts to restore the old exchange rate. Al-Rikabi says, “Our first and last goal is to serve the citizens, and one of our priorities that we will work on is to restore the exchange rate of the dollar to its predecessor.”
For his part, the representative of the coordination framework, Muhammad al-Qadri, said, “The coordination framework, through its presence in the Iraqi parliament, will work to restore the exchange rate of the dollar to its previous price, especially since this is the most prominent popular demand, as raising this price negatively affected the citizens and contributed to Paragraph Ratio.
He affirms, “The current parliament is able to return the dollar exchange rate to its previous rate, and the coordination framework will work to pressure the competent authorities to return it, and this work will be one of our priorities.” LINK
Monkey: articles about returning to old rate seem to be sayng very cleeerly that it is back to the last change rate last year IMO….nothing about 1:1 or $3 somethig – am I wrong? help please
Tivon: MO: The waning notion or rhetorical theory regarding how the 2022 Budget needs to be passed and opened in order for the reinstatement of the Iraqi Dinar to occur has become conspicuously clear that is not the case and never held any grounds or basis for any conclusive statement to the contrary.
We have to understand how most of these political figures have something to lose once the national currency is Internationally recognized.
Lobbying is not an issue insulated only in American politics. Once Iraqi citizens gain purchasing power they will also acquire political power. The stalling delaying or postponing of certain laws or policies from being implemented to benfit the citizens is life & death for the corrupt once these files or officially open if they are not already.
Treason has been committed by governments across the world which include Iraq.
Corporate oligarchs bought these politicians to only pass laws that benefit the elite. In return they become insider traders where they get the jump on stocks before the value is driven up through supply & demand.
At least 182 members of US Congress violated laws to stop insider trading for stocks in 2021. They did not disclose their portfolio. This is a federal conflict-of-interest. They’re also a violation of the Stop Trading on Congressional Knowledge Act, a 2012 law designed to prevent insider trading and defend against financial conflicts among elected officials and their top aides.
Alot of the familiar faces in Iraq are involved in serious crimes. Insider Trading is one. “Human Sex Trafficking” is another. Ranked Tier-2 Status by US State Department. (We Know It’s Worse)
You can source the Sadam era for this but it has worsened since the end of his regime. Why do you think procrastination in doing what is right for the citizens is a default behavior?
The new exchange rate means more than just a financially stable independent technocratic government in Iraq. Heads will roll once the guillotine drops.
Iraqi politicians know this better then anyone. The posturing to appear to abide by the citizens is a tactic to not appear to be working against the citizens. The reinstatement will occur at the expense of corruption to the benefit of the citizens.
Al-Kazemi is one of the few clean & clear politicians. So you can gauge the corruption with valid objective reasons when you see resistance against him in the chambers.
You have political figures wondering why and how Al-Kazemi has not been assassinated yet. You think they want to pass these laws to benfit Iraqis? They have no choice. They damned if they do, damned if they don’t. They lose regardless.
The promise of those 72 virgins in the afterlife will become less appealing once the hammer comes down on live televised trials for treason for would be offenders of the constitution.
Samson: Who determines the value of the currency, and what are the factors affecting it?
23rd January, 2022 by Akram Sami Fayez
Man has known about money and used it as a medium of exchange for several centuries, due to the multiplicity of his needs and desires resulting from the economic and social development in life. Paper currency was invented.
The value of the paper currency does not stem from the ability to convert it into coins (gold and silver), but rather from the guarantee of the issuing government, while the value of coins comes from the same materials from which they are made, such as gold or silver, whose exchange value was similar to their original value.
The value of the currency refers to the exchange rate of each country, which is determined according to its own currency. The value of the currency was previously determined according to the gold owned by the country, but in 1971 America stopped linking its currency to the dollar, taking advantage of its economic control over the world, and from that moment most global currencies became valued in dollars.
The US dollar instead of gold, and the banks determine the amount of currency in circulation and according to the market need, that is, if the amount of currency printed in the market increases without an increase in the volume of services and production in the country, the value of the currency decreases, and this is called inflation, but if the amount of services and goods increased and the amount of the offered currency did not change In the market, the value of the currency increased or its purchasing power increased.
The exchange rate is defined as the number of units of a particular currency that must be paid to obtain one unit of another currency, or it is the number of foreign exchange units that equal one unit of national currency, in other words, the ratio of the exchange of two currencies, one of the two currencies is considered a commodity and the other currency is considered a price for it.
The importance of the exchange rate is that it represents a link between the local economy and the international economy, and is also a determinant of the competitiveness of the local economy.
There are many methods that countries follow to determine the price of their currency, namely the fixed exchange rate and the flexible exchange rate.
Under the fixed exchange rate method, the government determines the exchange rate for its currency through the central bank, and the price is fixed fixedly, by linking the country’s currency to the currency of another country (the dollar, the euro, or Yen), for example, some Arab Gulf countries link their currency exchange rate to the US dollar, and some other countries link their currency to a basket of currencies such as the State of Kuwait, and therefore the value of the currency is determined through the Central Bank and is not affected by supply and demand.
As for the flexible exchange rate (currency float), in light of this method, the price of currencies in the currency market is determined by supply and demand, meaning if the demand for the currency is high, the value of the currency will increase, and vice versa if the demand is low, the value of the currency will decrease, for example if Iraq’s exports increase To the outside world, those countries will pay the value of those exports in Iraqi dinars, which leads to an increase in demand for it, which leads to a rise in its value and vice versa. Developing countries that depend heavily on imports will depreciate the value of their currency.
It should be noted that the value of the currency does not necessarily reflect the strength of the economy. A country’s currency may be weak, but the economy is strong, for example, the Japanese yen (the value of the Japanese currency is low, in order for exports to global markets to be at a low price, which leads to an increase in demand for it in addition to Low production costs and this leads to attracting foreign investment into Japan).
The value of the currency in a country may be high and the economy is as modest as the Jordanian dinar, that is, the countries that depend on exports are served by the low value of their currencies. As for importing countries, the high value of their currency is the most appropriate for them, and in general, countries seek through the Central Bank to keep the price of their currency appropriate. for international trade.
In addition to the above, the currency exchange rate has three main functions:
A: – The standard function, where local producers depend on the exchange rate in order to measure and compare the domestic prices of a particular commodity with international market prices.
B:- The developmental function, the exchange rate is used to develop certain exports to certain regions by encouraging exports.
A: – The distributive function, and this function is accomplished through the practice of international trade activities, through which the exchange rate is able to redistribute national income and national wealth among the countries of the world.
The exchange rate is affected by several economic factors, including (interest rate, public budget deficit, foreign exchange reserves, international loans, balance of payments, inflation and the rate of economic growth). As for the non-economic factors that affect the exchange rate, they are turmoil, wars, rumors and news.
Therefore, governments can deal efficiently and effectively with economic and non-economic factors affecting the exchange rate in order to enhance the value of the currency and increase its purchasing power. LINK