KTFA:

MilitiaMan:  They are not talking about devaluation. They are talking valuation. WOW!! Get ready.. Alak is talking on a FRIDAY!!!!! Whooo whoooo. imo  This is HUGE!! imo ~ ALAK talked on the holy day.. think about it..MM

Samson:  : Al-Alaq: The devaluation of the dinar should not be the first line of defense to confront the financial crisis

19th June, 2020

The Governor of the Central Bank of Iraq, Ali Al-Alaq, stressed that the devaluation of the dinar against foreign currencies should not be the first line of defense to confront the financial crisis and bridge the budget deficit

In a letter addressed to the former Assistant Secretary-General of the League of Arab States, Legal Adviser to the Prime Minister, Dr. Fadel Muhammad Jawad, and obtained by Al-Iqtisad News, Al-Alaq said that “by virtue of the central bank’s responsibility for monetary policy, the study and review of the exchange rate is an ongoing matter from Before formations of the bank and its board of directors based on in-depth studies that take into consideration all factors and variables, indicating that" the exchange rate is not a sacred matter so that it cannot be compromised

He added that "the devaluation of the dinar against foreign currencies should not be the first line of defense, nor should it be a means to bridge deficits, shortcomings and failures in the performance of other financial, commercial, investment, tax and customs policies", explaining, "easy solutions that achieve a financial value must not be used Limited at the expense of damage to all segments of society caused by inflation, especially the fragile and poor segments

He stressed that "we note the inaccuracy of the (some) account of the dinar reduction achieved from resources to the public budget, as the correct calculation is that we subtract from the total dollar revenues the share of oil companies, which amounts to 14 billion dollars annually and the payment of debts, interest and external liabilities amounting to more than 5 billion Dollars, in addition to the supplies and materials imported by the government, such as oil derivatives, ration materials, etc., the net of this amount hits the new price of the dinar, ”noting that if the dinar’s value is reduced to 1500 dinars for every dollar, the difference that the Ministry of Finance obtains from the difference is 5 trillion dinars

He noted that "the devaluation of the dinar against the dollar will lead to protection and stimulation of the local product is something that many notes suffer because this measure is used by some countries to encourage exports and in the case of Iraq the goal is to provide ingredients to stimulate domestic production and protect it from dumping policy practiced by exporting countries, especially neighboring countries, This goal will not be achieved by reducing the value of the dinar because the price difference is because of the dumping policy or because of the depreciation of the currency of these countries in a very large way

Al-Alaq called for controlling random imports and stopping dumping policy by controlling border crossings, as the number of informal border crossings is more than official and strict application of customs duties is an effective application of laws to protect the producer, consumer and anti-dumping LINK

Chappy86: I like the blatant use of "the net of this amount hits the new price of the dinar. Telling us a new rate is coming.  

Clare:  WOW! ...........COME ON SOMEBODY!!

Edna:  Yeah, I must agree this a "sneekey powerful" article. What I get from is Alak saying to the citizens and the world " No! we will NOT raise the value of the Dinar because doing so would Contribute to Inflation and cheep exports, this is the opposite of what we are trying to achieve, We want to attract Imports and domestic growth while meeting our annual expenses, hence, The New Value of the Dinar. He went on to say: We Not following the policy of Dumbing exports into the world economy which has a negative effect on our exchange rate, but seek to increase investment and imports. IMO

************

BearCinnabar:  KTFA, remember this chart brought to us by Newshound Samson, it helps to look at the numbers from Iraq and the numbers from the United States:  IMO 

IQD/USD FOREX RATE CHART:  

When we finally see the IQD listed on FOREX you won't see it as a dollar amount.  You'll see a "factor" and it requires a simple math step to get to what we want to know - how many $'s we get for each Dinar.
All FOREX listings are listed in pairs - comparing the USD to some other currency.  They will all show a different numerical factor against the USD.        USD/CAD, USD/EUR, USD/IQD

Using the program rate of 1190 you would divide $1 by 1190 = .00084 
So you will see it on FOREX listed as  USD/.84       $1 divided by .84 = $1.19
And.......
USD/0.537 = $1.86          ($1 divided by .537 = 1.86)
USD/0.400 = $2.50          ($1     "       "  .400 = 2.50)
USD/0.333 = $3.00          ($1     "       "  .333 = 3.00)
USD/0.243 = $4.11          ($1     "       "  .243 = 4.11)  

Also ....$ RATE = WHAT YOU WILL SEE ON FOREX….WHEN IT RI’S / RV’S… (Reinstates / Revalues):  See:  the #'s decrease, but with gained value as the exchange rate in american dollars:

$.86   = 1.162…….. 

$1.00 = 1.000……… 

$1.17 = 0.854………. 

$1.86 = 0.537…….. 

$2.00= 0.500……… 

$2.50 – 0.400……..

$3.00 = 0.333……

$3.22 = 0.310….. 

$3.46 = 0.289…….. 

$3.50 = 0.285 ……… 

$3.86 = 0.259…….. 

$4.00 = 0.250……… 

$4.10 = 0.243…….. 

$4.40 = 0.227………

$5.00 = 0.200……..

Frank26:  6-19-20....THEY GAVE NOTICE

THEY GAVE NOTICE !!! DID YOU NOTICE? ...SMILE...

This video is in Frank’s opinion

Special Report from MilitiaMan

https://www.youtube.com/watch?v=mmYKx94LdRg