Aggiedad77: Below is the post that Frank asked me to copy into the notes, it is a post from WalkingStick and my response to the news article, regarding the 50k notes…….Link
Now with regard to the article (See article below) posted earlier by WS….regarding the Economic Analysis……the title mentions “inflation”….but I know better, inflation is NOT an issue in Iraq today…..I think it is at 2% or so…..unless they are hiding something from us and I doubt it……
This article walks right into what Frank was talking about last night…..it is for “local training”…..just as he said…..to draw in or suck in the other 000’s…..
And they also are telling you the monetary reform is what……”FAST TRACKING”…..that means NOW….TODAY….TOMORROW…….NEXT WEEK, NEXT MONTH…..not next year…..or IMO….after the first quarter of next year…..NOW……they want be even more importantly….they NEED change NOW….
How can they make something happen quickly….make a change in the currency….change the value…..sure they could wait on the investment community…but that could take a year or more….taxes….again long term….the other industries….they are all stuck in low gear…..
Oil…..it’s not coming back quick enough either…..currency is the answer….adding value to that currency….that is their key….
Yes they have tried in the past to lift the 000’s….Dr. Shabibi tried in 2010….again in 2012….they’ve failed though each time for lack of security…..well Abadi is telling us now 100% security…..
Put Maliki in a noose and watch what happens….watch how quickly things “pop”…..”FAST TRACKING”……indeed…..watch for it to get even faster…IMO.
Thanks WS for finding this. Aloha Randy
Walkingstick wrote: Thursday 12 November 2015 | 18:17 |
Economic Analysis: issuing currency (50 000) dinars evidence of inflation .. The other option for the government
BAGHDAD / .. said economic expert, peace Sumaisem, Thursday, that the issuance of the Iraqi government to coin the (50 000) dinars came an attempt to cover the deficit in the internal circulation by introducing local currency new value and as pointed out that the measure does not mean that the Iraqi currency subject to restructure, expert confirmed that the new currency is not necessary to have versus the dollar in the Iraqi treasury for foreign transactions, being a dedicated local trading.
She Sumaisem for “Eye Iraq News”, said the move taken as normal while the government does not have an alternative supplier plugging deficits, and in Iraq, the monetary policy is a fast track, which is required here, the fact that other alternatives require time to show effect, such as investment promotion in industry, agriculture or even the imposition of new taxes, which usually require nearly a year to obtain a real impact. ”
Sumaisem also also confirmed that this step can not be counted “positive or negative” but is is inevitable on the Iraqi government being taken does not have another option to resolve the current crisis.
Iraqi currency and exposed to a real test of local and global position, on the back of negative data that gripped the country, from the failure of the project raise zeros, announced over the past years has not been implemented, to the case of austerity and low oil prices, which have left the country’s economy vulnerable to variables Mah.anthy 5