Hat tip to Sonny, thanks for the email!***
Iraqi central bank governor interviewed on monetary situation
Personal opinion: I think this is an interesting article for various reasons. #1, Shabibi addresses the LOP issue. According to that article from XE, Iraq plans to drop zeros by the end of the year. I keep saying there is no backing for this article, but of course it keeps getting brought up.
Well, there’s Shabibi himself DENYING that they have plans to drop the zeros in any timeline! Moral of the story? XE is good for rates, but when it comes to news… we should be skeptical of the opinionated articles they put out.
Also in that article, Al-Shabibi lets us know that the current monetary policy is always on a 3-6 month timeline, meaning it is revised or reviewed very often.
Next:
State of law adheres to Maliki’s nomination, INC waves of introducing one candidate to prevent votes dispersal
Friday, June 4th 2010 11:10 AMBaghdad, May 4 (Aknews) – “The State of Law did not nominate a compromise candidate to replace al-Maliki to resolve disputes with National Coalition about the Prime Minister post, while the latter hinted about nominating one person to prevent the dispersal of votes,” says a member in State of Law led by the outgoing PM Nuri al-Maliki.
“State of Law does not have any candidate other than Nuri al-Maliki and the claims about a compromise candidate for our list to replace al-Maliki are not true,” Khalid al-Yawar has stated today.
Ok, back to the books for me!
- Adam
*** Clarification: This is an older article, but the facts and statements are still relevant. Shabibi has never rescinded these statements, and the policies are still the same. The article also shares that the CBI is not in 100% control of the rate on the Dinar, the IMF has agreements with the Iraqi Government. Sorry for the confusion!
Related posts:
Considering how fast and frequently news & situations change in Iraq, an article from 2008 doesn’t seem very noteworthy now!
I did not see in the article where Shibibi denied the LOP scenario. Can you point that out? In my glancing over the article, I did not see anything referring to enial of a LOP.
Thanks Adam
Mario, see the part about dropping zeros.
*** clarification: This is an older article, but the facts and statements are still relevant. Shabibi has never rescinded these statements, and the policies are still the same. The article also shares that the CBI is not in 100% control of the rate on the Dinar, the IMF has agreements with the Iraqi Government. Sorry for the confusion!
All i know Maliki and Shabibi are good buddy.They might sleeping on the same bed every freakin nite.So corrupt this people and hope they put in jail anytime soon.
Great to hear you aced your test…..
A jounalist had someone tell him that the dinar will rv on June 29 thru June 31st. I will be happy if it does.This is someone who was in the meetings and saw them sign. I think that is as close as a rumor as seeing it your self.
I somewhat love to read the articles on Iraq written by Timothy Williams. They are very interesting maybe you should read more from this journalist.
I always follow this site but my question is why are are the articles discussed here link back to articles discussed at the sister site. Where’s the legitimate sources at. Anyone can say what they want online but the people who stand out are the ones with the facts to support it. I’d love to believe all the things I read here but unfortunately I don’t. I need some legitimacy in my life….please
Sean, you can almost always find the sources linked on dinarvets. I link to that site because people can discuss the articles over there – it’s called a “community”.
If you want to get involved like 14,000 other people have, then you can. If not – it’s only one extra click to get to the source. I don’t think that’s too unreasonable.
UNFORTUNATELY, after reading this article, I think the LOP is imminent.
We dont lose any money we just do not make any money in that scenario.
The article clearly states that the Central Bank and IMF are controlling the Dinar’s value.
They have 15% interest rates! The Dinar has traded in the 1000 for 1 USD range for months and months.
Why wont they let the Dinar float like other currencies?
They state they worry about inflation!!!! There is no inflation in the world, the worry is deflation thats why interst rates every where else are close to zero.
VERY DISAPPOINTED IN NY STATE.
Hi Adam,
I am very happy to hear that you did very well on your examination I really had no doubt that you would. Your license will be in your hands very soon! Keep up the good work and we are always happy to read about no LOP of dinars.
Good Luck! David
Adam. Where are you? I haven’t read your chat on dinat vet lately. Adam, why people still talk about redenomination/remove 3’000/lop. Cause when I think deeply , rationally and logically, redenomination will never ever happen at all. I think sometimes when people resd the negative news everywhere that is written by some irresponsible clowns, they get confused and then they think that the news is really true. But Actually, all the negative news that I read everywhere about Iraq dinar in Arabic letter or english translation aren’t true at all because some clown can just make up a negative story to let people who resd fell down and get confused. For example This is just example ), if each iraq person own 1 million dinar ( Equal to US$ 850 ), then redenomination happen so 1 million dinar=1,000 dinar=US$ 0,86. Then if the government want to RV let’s say 1 dinar=US $3, then 1,000 dinar will be worth US$ 3,000. Then, when the RV happen that means at the same time the price for all the goods and services alse go up for sure. So after RV, iraq person have US $3,000 equal to=1,000 dinar. Now, the most important question after RV is do all folks ever think is 1,000 dinar enough to pay for the cost of living and feed their family with children, especially lower income iraq family?And for how long 1,000 dinar can be spent to pay for all the cost of living? can everyone imagine is it 1,000 dinar worth enough to feed their iraq family?anyone can answer this questions, I will be happy to hear from you guys. After redenomination and RV, the iraq government is the only one who get very rich beacuse they save a lot of dinar. And the iraq people , especially lower income people, will get the most suffering. And when the life of iraq people suffer see the Iraq government is very happy cause they get rich, then iraq people will go for riot and then again this will destroy the country economy as a whole, so iraq people will never get prosper. So, In my own opinion redenomination will only happen after RV. will RI ever happen? I don’t know. But for sure for me RV is all the best forever and ever no matter what the rate will be. I don’t want to be a greedy person cause god doesn’t love a greedy person and greed always and always bring disaster that I can’t ever imagine for the rest of my life. And I want to be loved by god forever. So GO RV EVERYONE CHEER UP.
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