KTFA (Frank26)

  In Dinar Guru Updates 

Dfieldzy: Hey peeps haven’t posted in a long time but wanted to share.
Not sure how to post a video but CBS news was talking about the Dinar this morning and De’larue printing the currency. They had bank notes blasted all over the tv. Not the new ones but they were there.  I took a video of it but not sure how to post it.

Don961: https://www.cbsnews.com/video/inside-the-company-that-makes-the-cash-for-more-than-140-countries/



Don961:  thanks to my good friend for alerting me to this …

a very good article explaining the method of corruption and stealing going on … and why very little to nothing trickles down to the citizens …

the political parties use the allocations of the Budget to enrich themselves … use it like like their own personal piggy bank …

if anything this exposes Maliki for his participation in it .. and not doing anything about it … it’s all about the Benjamins to these guys … and using them to stay in power … imo

Budgets of ministries determine their political value .. And a strong struggle on the portfolios of electricity, health and education

02:24 – 04/08/2018

Follow – Mawazine News

Iraqi political parties and blocs take into account the size of ministries’ budgets in their negotiations on the formation of the new government. This is linked to the vital issue of these parties in financing them and providing adequate resources for their many commitments.

An Iraqi financial expert, who has worked for a period of time among the technical staff to prepare the state budget, said in press statements that Iraqi political parties and blocs have already financed themselves from the state treasury.

The party that runs a ministry, according to the same expert, considers that ministry its own feudalism. All the money entered into is his money, he is entitled to spend it in a manner that is consistent with the desire of his leaders and the beneficiaries around them.

The financial expert confirms that the oversight bodies have been floated and ensured their silence about fraud and theft by opening the door to its employees to contribute to the theft of public money.

The parties are divided over the quotas in the next ministerial reshuffle at a time when popular protests are demanding basic services, revealing the depth of the gap between the ruling parties and the people.

According to political estimates, the new Iraqi parliament may convene at the end of this month or early next month at the latest, prompting the acceleration of negotiations to form the largest bloc that will nominate a new prime minister and propose the names of members of the new ministerial cab.

An Iraqi politician involved in negotiations to form a new government that “the leader of the Fatah alliance Hadi al-Amiri and the leader of a coalition of state law, Nuri al-Maliki, meeting the specific demands in the new cab.”

The same politician stresses that “the nature of the options favored by al-Amiri and Maliki reveal their desire to get their list of portfolios portfolios rely on large financial budgets.”

The Iraqi politician says that “the bag of electricity is of great interest by the Fatah alliance as Maliki tries to pass the name of a close associate to fill the portfolio of the Ministry of Health in the new government.”

The two ministries receive substantial financial allocations from the country’s public budget on the assumption that they serve a large segment of the population. In practice, however, the bulk of the funds of these ministries go to the accounts of political parties and personalities by signing fake contracts or calculating them at more than their cost.

The failure of the two ministries is almost a scandal because of their poor performance and their inability to meet the needs of the population.

The Ministry of Education is also an important source of party funding.

The sources say that “these attractive ministries are subject to dispute between many parties.”She adds that some Sunni political parties in Iraq are demanding that they be “appeased” to give up these portfolios because they occupy two of them, meaning that those wishing to have access to electricity, health and education bags must “pay for approval.”

The Prime Minister Haider Abadi froze the work of the Minister of Electricity in the current government Qasim Fahdawi because of the great deterioration in the energy sector in conjunction with the high temperature during the summer.

According to high sources, Abadi tried to make the same decision against the Minister of Health, Adila Hammoud, because of the deterioration of public services strongly in this vital sector, but was met with a strong political rejection.   link


Don961:  Reprint of article WS brought in the other day …….. from the Morning Paper …… with a pic

The absence of small monetary categories is detrimental to the stability of the local economy

29/7/2018 12:00 am Baghdad

In the middle of the clothing shop, Ali Ali stopped after he was chatting with a customer of the shop and then went to his small table, which he placed at the end of his small shop, and while he was preoccupied with his talk, he opened the drawer of the desk. The local currency of the category of 250 and 500 and 1000 dinars, he said:

“The small cash groups have come close to our shops, so how can we deal with customers, especially those who give us big categories like 5, 10 thousand and 25 thousand dinars, really it’s a big problem.”

The expert on economic and academic affairs Dr. Hilal al-Taan said that the existence of small monetary groups leads to a drop in prices, unlike the large groups, which lead to an increase in inflation and high prices, especially with the categories of 25 and 50 thousand dinars. It is known that any economy in which small groups of cash coins disappear leads to the rule of Large and increase circulation in the market at a small expense.

A notable absence

Not only shops and markets suffer from the absence or lack of small monetary groups, but it applies to banks also, says a bank preferred not to be named:

“We have noticed recently the absence of cash categories of 250 and 500 dinars, as we can no longer provide them and give them both citizens and employees, and that we are equipped with them are very few compared to the real need for them, and no one knows why the disappearance because we did not notice any new edition in the markets And not in banks, and this poses a threat to our economy because these categories are within the reach of everyone and circulation easy compared to those large existing such as 50 thousand dinars, so banks had to accept the damaged currencies and received from the citizens.

Director General of the Department of Repair and Storage in the Central Bank Agency Abdul Karim Hassan said in an earlier statement to “morning:

“We have instructed the government and commercial banks to receive the damaged banknotes from the citizens and replace them without any fines and to submit them later and in any quantity and banks contrary to those instructions are accounted for, and in terms of currency burned or buried citizen can be delivered to the Central Bank exclusively to be replaced immediately after submission according to certain controls” .

Financial cover

While he is busy arranging clothes in his shop, Ali Kamel returns to wonder:

“What is the real reason for the absence of small groups, earlier we would note the existence of modern currency coins are being dealt with, but today is available only old and is almost damaged, is this a harbinger of the occupation of large market groups and how simple citizens can cope with this, which may lead to high Prices of goods and goods?

The bank notes that it is customary to print currency outside the country and provide a cover for printing according to a certain vision and Iraq provides this from the sale of oil and perhaps the lack or disappearance of small cash groups is evidence of the failure of the printing process, it is known that the former system was the process of printing within the country And are traded by citizens in Iraq exclusively and is not recognized outside of it when the fall of the system is no longer for this money little value and was handed over by the citizens to the competent authorities to benefit them in one way or another, the current currency is internationally recognized and has a value compared to its counterpart

The Director General of the Department of Repair and Storage that the Central Bank has equipped the Rafidain Bank and Rashid Banknotes and small groups to pay within the salaries of employees, and the bank to sort out the damaged and compensated with new papers, noting that the Bank continues to print banknotes and improve, especially small groups and pumping instead of damaged papers , Calling for the preservation of the currency and accept whatever its status as a symbol representing the sovereignty of the country and inform the bank in case of refusal of banks to receive the damaged currency of citizens. ?

The Iraqi Dinar

After the British occupation of Iraq during the First World War, the occupation authority introduced the currency of the Indian Rupee as the official currency instead of the Ottoman lira, and in 1931 it was decided to establish a council of the Iraqi currency, which is responsible for issuing a special Iraqi currency.

The law No. 44 of 1931, Equal to the value of the pound sterling, and divided into 1000 fils, as appeared in the first issue of the dinar during the reign of King Faisal I on the first day of April 1932, and the banknotes in the category of quarter and half dinars and dinars and five and ten dinars and one hundred dinars, and coins of coins it F The Bank of the Iraqi currency continued issuing paper and metal coins until the establishment of the Iraqi National Bank in 1947. In 1954, the Central Bank of Iraq was established, which became responsible for the establishment of the Iraqi National Bank. The issuance of the Iraqi currency, and the Iraqi dinar throughout that period linked to the pound sterling, where the value of the rise and fall according to the fluctuations of the British economy.

The 50-year-old Jamil Hamed believes that the coins that were circulating in the 1950s and 1960s were a form of civilization of different types of monetary categories, of which there were 5 and 10 fils, all of which were accessible to the citizen and easy to obtain.

Economic researcher Laith Ali Bin that it is known that the shape of the currency and its effects on the psychological great consumer, and this is proved by various scientific studies as increasing pride in his currency and his desire to ration purchase, as well as the need for the coin, which is noted that it did not disappear from trading in different countries of the world, Because it depends on the existence of parts, for example 350 or 450 dinars and we note that the coins disappeared completely from trading in our Iraqi markets, and earlier had a presence as there were devices in the past used this currency, including land phones that were in the mother Be the General Today either has been dispensed for several reasons, including changes that took place in the trading markets, as well as the cost and was replaced by the paper, which is now the lady of trading.

The researcher points out that economic affairs in the matter of the decline of the Iraqi currency against the dollar, it may feel that the citizen’s national currency has no value, either when the rise gets great pride by him, begins to maintain and try to legalize the purchase, and with regard to delete zeros from the Iraqi currency There is a belief that this matter has an impact on the psychological side, when they disappear from the monetary currency will feel the importance of the citizen currency and the need to preserve them, in addition to the paper that is printed by the currency must be of the type of luxury, as badness has psychological effects and drives the consumer to think The need to abandon reuse

Employee Shahrazad Mohammed confirmed that her salary for two months completely from the small cash categories, such as 250 and 500 dinars, if found, they are badly damaged and sometimes not received by vendors or even taxi drivers, private and public, which posed a real problem for the citizen.

Al-Taan explained that facing such a problem requires studying the situation of the market and finding a solution either by distributing small cash categories in the salaries of employees or printing small currencies that are easy to trade, while taking advantage of damaged currencies and turning them into dough and using them later. The small categories are very important because they are easy to trade among citizens stability Economy.   link

Samson:  US newspaper: Trump demands not to abandon Iraq again

4th August, 2018

US newspaper on Saturday called on the administration of the US president not to abandon Iraq again, to participate strongly in the democratic process in Baghdad and to form a new government, “if it really wants to avoid instability in Iraq.”

“Washington’s policy toward Iraq has been narrowly focused on avoiding defeat, and this is a flawed view,” the paper said in an article by American writer Sean McGovern and his Mawazine News.

“The preoccupation of US policymakers with the summit between Trump, the North Korean leader and the NATO summit diverted attention from the May 12 Iraqi elections and continued efforts to form a new government.

“The recent elections represent an opportunity for the United States to participate in forming the new government,” he said.  LINK


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