Auction Central Bank and its mechanisms .. shortest path to become billionaires ..!

Auction Central Bank and its mechanisms .. shortest path to become billionaires ..!

Monday 01-02-2016

Fakhri Karim / no indictment deliberately intended for the custodians of the central bank, but it's just light on what led to him daily auction of the bank from money laundering and smuggling enrichment safe for thieves of public money and the weakening of the role of banks in the development and the development of infrastructure and support for reconstruction projects. This lighting may be inadequate to detect economic mechanisms that induce this auction and its relationship to maintaining the value of the dinar, or create a balance in bilateral trade, or any economic effect rise of national output and enriched. But rolling in the financial community confirms that this is the daily auction the central bank is unique in the world has no end not like.

The documents to be published "long", after being substantiation for, reveal feeds methods naive adopted by the "Hawwasm" Banks civil and banks in to circumvent the central bank auction and turn it into the most prominent way to the looting of public money and hard currency smuggling and money laundering suspicious. This auction has led to the transfer of many marginal in society to decision-making positions in the parallel market management or alternative that create control mechanisms at the currency and directing and "clean up" the swamps of financial and administrative corruption, and a culture of bribery and trade subcontract with small state officials and elders of the powerful . In unburden eye Agmadtha some shift from earners and owners of stalls to owners of dollars, rather than in isolation Altsahr with armed militias and the offices of the leaders of the luminaries in the political process and their children, and with the first of kinship in the top government positions to those in their hand commands and prohibitions and governance unchecked or control!

If they " Basta - Ganbr "way to such enrichment which I referred, can doubt a hidden role for" senses "who were able within hours or days of looting banks and ministries cabinets and palaces of the tyrant and his family and its statesmen, including murderers and criminals also freed of Saddam Hussein on the eve overthrow his regime and the occupation of Baghdad ?

it "exploits" auction that enabled those who have become customers Daimyin for its operations from inventing a simple way needs only to collusion with the departments of banks and banks or some of their employees powerful, easier for them to withdraw checks worth billions of dinars from the fake or weak and to take advantage of the time taken for clearing interbank accounts , a few days is enough to deposit the check in the short or placebo balance. That means millions of dollars are bought and sold at the price of the central market and take advantage of the two rates difference! It may be argued that the central bank is required to sell the dollar clientele of traders and importers difference of no more than ten points for a retail price in the auction! But how this is achieved if the participant in the auction the bank is the beneficiary through banking and trade of fake or partner in working capital with capital owners and dealers companies? How to like the owners of these banks that "Athsnoa" in front of the lure lucrative jumps financial Bmhafezhm dozens of times every day?

To simplify the movement of capital between the clearing cycle adopted by the customer auction, and what gets from the differences, we recall, for example, the numbers, even on the assumption that it did not circumvent through placebo credit or clearing uncovered. Suppose it shares a day auctions equivalent million dollars and gets the difference between the purchase price of the auction and the price set by the Central "ten points", ie ten million dinars for each million dollars. How much is the result of participating as equal to ten million dollars? Profit will be a hundred million dinars per day multiplied by six days a week and four weeks? Will be the monthly toll would be two billion, four hundred million dinars!

But what is happening in reality is not the case, sale of the dollar are cross-conversion, banking and trade companies behind thirty points, and sometimes sixty points, according to the manipulations currency markets controlled by Hawwasm auction, which means that the outcome of one month of purchase Bank of guidance or the Middle East or North or other banks will be contained in the documents amounting to seven billion and two hundred million dinars ..!

during 2014, the amount purchased the dollar from the central bank auction amounted to the following numbers:

1 - Erbil investment --375,000,032 0.4 billion dollars,

2 - Huda --680,000,909, $ 3 billion

3 - commercial territory --584,000,394, $ 3 billion

4 - international development --000 731 382, $ 3 billion

5 - Sumer commercial --543,000,302, $ 3 billion

6 - Iraqi investment - 0000 743 298, $ 3 billion

seven - Business Bay - 000 142 225.3 Milirdolar

8 - National Islamic --840,000,611, 2 billion to $

9 - Ashur international --317,000,493, 2 billion to $

10 - United investment -000.330 0.934 0.2 billion dollars,

and calculate the benefits earned by the banks and the banks of the auction, even if we assume they bought a clean money and sold at the price set by the Central. But the facts suggest that predominantly has not adhered to this, but it's by their owners or members of their boards of directors entered in the auction and behind banking and trading companies "fake" is owned by the owners of the banks or members of boards of directors.

What will not be mastered by the light, that extensive damage is not limited to looting "project" of the funds for the benefit of a handful of banks and shops banking suspect the owners, but also led to a "deformity" gradual job banks and banks, which are supposed to enter in the economic cycle of the country as a stimulant for investment projects and reconstruction, through soft loans under the rules of "safety" defined from the central bank, and to ensure that balances depositors.

these activities have stopped, or almost, after profit bumper became secured from the central bank auction, tempting as a substitute for any functional activity to them.

It is the most dangerous associated with this pattern of distorted activity appearances, away from the central bank oversight "guarantor of deposits" and safety banking policy, the futility of banks owners who dominate the management of deposits, and using them in the market to buy factories and companies and shares rewarding and drugs, and to cover up the manipulation of giving loan guarantees fake or according to assess not cover ten loans.

examples glaring lighting the central bank auction operations continued involvement of the North Bank in daily auction, at a time when the bank is unable to entitlements depositors Exchange, without that the central administration is moving to take any action preserves their rights.

in response to a frivolous banks and banks appearances, the central bank announced that it punished the offending banks across "courts" obliging them to pay a rewarding fines!

headlights that what is going on around him talk, that what was done by the banks concerned were not financial irregularities, but fraud and forgery of official documents and smuggling, money laundering and providing fake and other companies, which requires deterrent penalties long-term imprisonment and the confiscation of the money.

the question that has been raised among experts in finance, trade, economy : Why not re-work "external conversion" law that was in effect under the previous regime, which requires the organization of foreign trade activity, and the elimination of capital corruption and emitters him, especially in the government and private financial organs, primarily the banks and banking and financial conversion?

( a link to the article referred to the documents to be published by the "long")