Kazem Al-Shammari calls for government investment of surplus cash reserves

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Kazem Al-Shammari calls for government investment of surplus cash reserves

Monday, July 8, 2013 18:16

[Baghdad where]

Spokesman called white bloc MP Kazem al-Shammari, the government to invest surplus cash reserves and harnessed according to a well thought out economic policy.

Al-Shammari said in a statement today, the agency received all of Iraq [where], a copy of it, that "the size of Iraq's reserves of foreign currency rose to 76 billion dollars, in addition to 30 tons of gold bullion,"

Shammari said, "Investment such a large reserve will help to raise the value of the Iraqi currency relative to foreign currencies, and thus will contribute to reduce the prices of goods would be reflected on improving the situation of living of the Iraqi people, and thus will contribute to the Secure society and reduce crime and the fight against terrorism. "Ended

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Nice post dejavu and I agree about Turkey!!! A lot of very good news!!! ;) 

Isn't this Al-Shammar fellow saying he wants to take the CBI's reserves and "invest" them in projects in Iraq?  We all know how efficient the Iraqi's are at investing money (witness the billions in US aid that disappeared).  If this guy gets what he wants, how is stripping the CBI's reserves going to strengthen the dinar?  I would think that we should want the CBI to continue to build reserves and stockpile gold.  These reserves and gold are what will allow the CBI moves to increase the value of the dinar and have the rest of the world accept the new value.

chazmaz wrote:Isn't this Al-Shammar fellow saying he wants to take the CBI's reserves and "invest" them in projects in Iraq?  We all know how efficient the Iraqi's are at investing money (witness the billions in US aid that disappeared).  If this guy gets what he wants, how is stripping the CBI's reserves going to strengthen the dinar?  I would think that we should want the CBI to continue to build reserves and stockpile gold.  These reserves and gold are what will allow the CBI moves to increase the value of the dinar and have the rest of the world accept the new value.

so with all the good posted in this tread and the articles of the day thats all you can post?? lol...what bout the good stuff! lol..

Awesome post :affraid:  this dude sounds like he cares about his country and people with all the this talk. Something BIG is about to take place. I can see the writing on the wall now and its pretty clear to me.  8)

Shammari: the government invest surplus cash reserves in accordance with a well thought out economic policy

Tuesday, 09 July 2013 08:21

{Baghdad: Euphrates News} spokesman white bloc MP Kadhim Al Shammari said the government invest surplus cash reserves and harnessed in accordance with a well thought out economic policy.

Among Shammari said in a statement received by the agency {Euphrates News} copy of it on Tuesday that "the high volume of reserves of the country's foreign currency to $ 76 billion, in addition to 30 tons of gold bullion, and out of Iraq from Chapter VII, make it necessary to set a date to reset currency Iraq. "

The parliamentary economic committee has indicated that the deletion of zeros from the currency and restructuring is the need to support the country's economic identity, especially after the end of Chapter VII.

Said a member of the Committee Mahma Khalil Abdul Hussein Abtan at a news conference here in the parliament building last Sunday that "we in the Economic Commission parliamentary see that the time is appropriate to start a deletion of zeros from the currency and restructuring to support the identity of the country's economic and benefit the people."

Where Khalil stressed that "after the withdrawal of Iraq from Chapter VII, there are great advantages stations and many promising in the country's economy to support economic and identity of the Iraqi dinar, and this case is purely economic aim of maintaining the Iraqi currency."

Asked Khalil, "the Iraqi Central Bank to begin a project to delete the zeros from the Iraqi currency and restructuring," explaining that "this project is as old as the central bank has asked the government to wait it out that it's an appropriate time and today we see that the time has come to start this project."

"Also, and that there is an item constitutionally clearly provides for the issuance of currency and categories of currency for the purpose of economic benefit of the people, and today the Economic Commission considers that the time is appropriate on the grounds that there are stations promising in the Iraqi economy to support the identity of the economic and the Iraqi dinar, indicating that the currency does not know of quotas and her promising future in the region. "

He said that "in light of the country's large potential and promising economic stations, we hope that the next financial budgets will be greater."

Committee member said parliamentary economic Mahma Khalil said "large current bloated currency to Atliq the country and there among the citizens intense desire to keep the Iraqi dinar to compete with the dollar and other currencies."

As a member of the Economic Commission parliamentary bloc of the citizen Abdul-Hussein Abtan has said the "central bank announced a few days ago that the reserves of the country reached $ 76 billion and we have Iraqi dinars befitting the country and these deposits and the amounts the order to delete the zeros and structuring currency has become an urgent necessity."

He continued that "it is not reasonable to have reserves of Iraq has reached $ 76 billion and we still are dealing 1,300 dinars to the dollar, then what is the use of these funds and the money if it does not reflect positively on our citizens, where there is still unemployment rate of 7%, poverty over 20 % and the edge of the poverty line when more than 30%. "

Abtan added, "We believe that the Iraqi dinar must improve against the dollar as it is not true that the reserves of the country today has reached $ 76 billion and the Iraqi dinar at 1280 for one Aldlar".

"The improvement in the status of the Iraqi dinar is reflected on the lives of citizens and its purchasing power and all what exists in the country is imported goods, so when improving citizens' purchasing power will be reflected positively on his life and this is what we expect from the Central Bank of Iraq."

He said the "multiplicity of revenue growth in the country is a modest and simple compared to the existing privileges and development of the Iraqi economy depends on the vision and management of the economic file better than the current situation."

A member of the parliamentary economic committee Abdul Hussein Abtan that "Turkey and Lebanon were deleted zeros from their currencies, how Iraq who owns this great Alahitati has the argument of Chapter VII, and now has been completed and removed, what remains of zeros."

Abtan and ended by saying that "increase the exchange rate of the Iraqi dinar against the dollar is very vital to the citizen, it is not enough that we have billions in deposits at the central bank against poverty and unemployment rate and weak purchasing power of the citizen"

The spokesman said the block white MP Kazem Al Shammari said, "Investment of this reserve big help to raise the value of the Iraqi currency compared to foreign currencies and thus will contribute to reduce the prices of goods and commodities, would be reflected on improving the living conditions of citizens and contributes to keeping the security and stability of the society and reduce crime rates and determination in addressing and the fight against terrorism. ended

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This is from the above article sounds like this part is talking about the lower denominations and the coins.
Thanks
LIT 
 there is an item constitutionally clearly provides for the issuance of currency and categories of currency for the purpose of economic benefit of the people,

Thanks LIT for this good article. Wish they would do this for their people during their holiday that is scared to them.
 
And I need a holiday also. :D

lonelyintexas wrote:This is from the above article sounds like this part is talking about the lower denominations and the coins.
Thanks
LIT 
 there is an item constitutionally clearly provides for the issuance of currency and categories of currency for the purpose of economic benefit of the people,

Great article...one of many screaming for a currency change...Thanks LIT...the day will come... ;) 

Bigben wrote:

so with all the good posted in this tread and the articles of the day thats all you can post?? lol...what bout the good stuff! lol..

 No, I've been following this investment on a daily basis for over 5 years now and I try to understand what the articles mean, not just cherry picking the good stuff.  You're kidding yourself, LOL