“CBI Has the Exchange Rate in Thier Court”
MilitiaMan: We need to try and decipher the wheat from the Chaff. Not an easy task be sure. But, if we look closely we can see that they purposefully muddy waters and have done so, as long as I have studied this.
This professional expert (see below link) if you will , describes it as confusion, nothing more. Done imo on purpose, sadly. A confusion that does creates a similar environment like the short and distort we see here today. It creates doubt and that doubt lacks hope and sets those that are in need and hurting up for failure.
As for the CBI, they have the exchange rate in their court. Not the GOI / Finance Minister, his tasks are important, just different from the CBI. The expert explains it very well. They are independent from each other.
As for the political side of things, they will eventually come around. They may even come around at the same time. I know there is a view that they need to be first, but, the way I read it and from the expert on the CBI has it that the exchange rate is in their court…They devalued before and they can revalue in the future.
So, we shall see if this Saturday and subsequent sessions the same day on the political side of things, do in fact set the stage for a synchronization of the two independent bodies to coincide with one another.
Note we have the automation of the Borders for Customs that will create wealth equal to or similar to that of their oil output revenues. Which by the way they have told us they want to cease the currency auctions.
Well, Sunday’s auction was a mere $960,000.00. That is a very telling sign in and of itself. I believe our dear Samson, is like me in that we haven’t seen that specific number before.. So, by that we can garner there is hope that behind the scenes there is much progress is getting done and that brings me hope in what I see to be a fairly accurate view on things.
The goal is to help the citizens. Purchase power brings hope and healing to the citizens, and that requires an exchange rate change.
The support for that rate change which is expected to be explained in the short term to the Parliament will be derived from the increase in oil pricing to the tune of $120+- a barrel and including the revenues from the automation of the borders equaling a similar amount to oil.
Let us see what happens next, my feeling is it is all good!! ~ MM
The exchange rate of the dollar and political rivalries
“For those who do not know what is the difference between the powers and actions of the Ministry of Finance and the Central Bank of Iraq, the Ministry of Finance is the one who sets the financial policies of the state as a whole, including taxes, customs, spending, budget and studies on spending and public consumption.
As for the central bank, it sets monetary policy from interest rates, bond interest and the currency exchange rate, and it is one of the most dangerous policies in the country because it determines price and inflation rates and controls imports and exports.
According to the Central Bank of Iraq Law No. 56 of 2004, which was issued by the Coalition Authority, where the law stipulated in Article (16-b) as follows:
(Formulating policies that would achieve the main objectives of monetary policy, including the exchange rate policy, the restrictions imposed on the operations carried out by the Central Bank of Iraq in the open market, the interest rate policies that are imposed on the procurement of funds for the banking sector, and all forms and levels of reserves that are required of banks to maintain However, the board does not have the authority to join a fixed exchange rate regime such as a monetary union or a currency board).
Where it expressly stated that the one responsible for the exchange rate is the Central Bank, not the Ministry of Finance, and that any talk about the Minister of Finance and the Ministry of Finance is nothing more than confusion and confusion of papers. It is supposed to host the Governor of the Central Bank of Iraq to clarify the exchange rate of the dollar against the dinar, not the Minister of Finance. LINK
The date of passing the presidents of the republic and the ministers
Today, Friday, Kurdistan Democratic Party deputy, Mahdi Abdul Karim, revealed new
details about the date of passing the posts of the presidents of the republic and the
And Abdul Karim said in a statement to (Baghdad Today) that “the session that will
follow the opening session of the nomination for the presidency, scheduled for next
Saturday, will witness the continuation of voting on the presidents and ministers in one
And he indicated that “another session will be held 3 days after the opening of the
nomination session to pass the candidates for these two positions (the president and
He explained that “the Tripartite Alliance (the Kurdistan Democratic Party, the Alliance of
Sovereignty and the Sadrist Movement) will be present during the parliament session
tomorrow, Saturday, and the majority will be clearly visible and the ability of the Triple
Alliance to hold the session.” LINK