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This is a MUST Read article that was written by Dr. Shabibi and we found to be originally printed by Almada Newspaper. Thanks also to Currency News Hound’s Twitter feed for bringing this great and informative article to our attention.
As a courtesy to you, we have bolded portions of the article and even added [comments to simplify the content] at times when we found Dr. Shabibi’s comments more interesting, it is best to spend five minutes and read the full article.
Foreign currency reserves .. Its importance and some of the results of the truncation of it
by D. Sinan Mohammed Rida Al-Shabibi *
CREDIT: Almada Paper | Central Bank of Iraq
There is no doubt that the government is responsible for fiscal policy in the economy. In contrast, the Central Bank is responsible for monetary policy, any actions that determine the size of the money supply and conditions in order to neutralize inflation and helping to provide a stable economic climate. There are undoubtedly problems plague the relationship between these two powers, especially if they are absent coordination between them.
Goal here is not to go into the details of these topics, but we want to focus on one subject, is of foreign currency reserves or the cover of the national currency. The root of the problem in this area focus on the belief of some, especially within government agencies [maybe he is talking about Continue reading →
Published on Thursday, 13 January 1 / December 2012 19:40
BAGHDAD / obelisk: central bank governor denied agency, Thursday, said the World Bank may intervene in the Iraqi political, financial, or the imposition of any conditions on the Bank’s measures to maintain the stability of the Iraqi currency.
Said Abdul Basit Turki for “obelisk”, on the sidelines of a regular meeting with the World Bank in the Jordanian capital Amman, said that “the World Bank said that what he is doing CBI conduct proper to maintain the stability of its currency.”
Turki added that “discussions with the World Bank addressed the issue of Continue reading →
Revealed the Finance Committee in the Iraqi Council of Representatives, on the arrival of a delegation from the United Nations to Baghdad, to investigate corruption files in the central bank.
A member of the Finance Committee Iraqi List MP Hassan Auzmn in a press statement that a delegation from the United Nations arrived in Baghdad during the past two days, adding that the delegation includes experts to investigate the cause of the central bank and corrupt files raised Continue reading →
Well, looks like Shabibi is now finding it to be the right time to start talking and criticize Maliki’s efforts to take over the CBI!
This may be a very positive sign that Maliki’s days as “Dictator” are now nearly over!!!
~ Mr. IQD
Confirmed former Bank Governor Sinan al-Shabibi said deputy speaker of parliament Qusay al-Suhail erred in estimating things, noting that Iraq has not lost his money penny-day administration of the bank.
Shabibi said during hosted in Studio ninth time on MBC Baghdadiya and submit colleague Anwar al-Hamdani “The committee tasked with investigating the issue of the central bank were not professional in their work and were not accurate in its report presented to the House of Representatives.”
Wow is all we could say when we just saw the latest CBI Currency Auction!!!
The sales were about $100,000,000 LOWER than the normal average CBI Auction!!! Why???
Is it due to the Holiday they just had???
Is it due to the crackdown on the illegal funneling of USD to Iran???
Or is it coincidence and nothing to worry about….. (eh-hem, clearing my throat!)
You Decide – maybe it’s nothing….
~ Mr. IQD
CBI Daily Currency Auction for Oct 30, 2012
The latest daily currency auction was held in the Central Bank of Iraq on the 30-OCT-2012. The results were as follows:
Number of banks 18
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —– Amount sold at auction price (US$) 163,050,000
Amount purchased at Auction price (US$) —– Total offers for buying (US$) 163,050,000
Total offers for selling (US$)
We just saw this really GREAT “Opinion Piece” from Just Hopin posted on the Currency News Hound site.
If you have not read it yet, we feel it’s worth a minute of your time!
~ Mr. IQD
When reading into the events mounting up to the speculated RV that is exactly what applies.
As a follower of the Iraqi news you must learn to read the news but also see the positive strides being made which is often cluttered by articles headlining feuds, disagreements, setbacks, delays, etc.
Since January 2012 we have seen major steps taken in Iraq. We have see steps to finalize the tariff law, steps toward WTO ascension, steps to end outstanding debts owed by Iraq, steps toward completing World Bank and IMF directives, steps to complete banking upgrades, steps to end Iraq-Kuwait issues, steps toward enacting the HCL law, and of course steps to complete currency reform (dropping zero’s / new currency) in Iraq.
If we are seeing this in the public news, then what is really happening behind the closed doors should be very exciting!
It is VERY ENCOURAGING to see a public account of so many members of Maliki’s group not supporting him! Notice, it says “more than 20″ – yea, because some will not say until the time of the vote when they see it’s hopeless for Maliki. Which based on this article…. IT’S HOPELESS NOW!!!
~ Mr. IQD
THURSDAY, MAY 24, 2012 05:16
Baghdad: MP in parliament Hassan Al-Alawi, on Wednesday, that the opponents of Prime Minister Nuri al-Maliki to have 200 seats in parliament, noting that the withdrawal of confidence from the meeting will be held al-Maliki and his team will lose the round, he noted that more than 20 people within the State of Law Coalition would vote against him.
He said the top, “The politicians who held a meeting in Erbil and after in Najaf, have up to Continue reading →
We wanted to publish this article for its two key points.
First, it tells us we got another week according to Sadr – and since Sadr is leading this dance, we will believe him.
We knew a “few days” but what is nice now is there is a proper deadline set by Sadr!
Next, we like this article because of the mention of the letter from the US stating we support their decision to remove Maliki!!!
~ Mr. IQD
SUNDAY, MAY 20 / MAY 2012 10:46
Detect a representatives of the Iraqi leaders’ meeting in Najaf for determining the leader of the Sadrist movement to the National Alliance within one week to end the crisis, and the answer to the reformist paper developed by the meeting of Irbil.
MP Hussein al-Shaalan’s ” Twilight News “,” The Sayyid Muqtada al-Sadr insisted yesterday at a meeting of the leaders in Najaf, deadline one week to the National Alliance to end the political crisis unresolved, and the answer to the Continue reading →