View Full Version : Groovgal's Explanation of Part III Center For Studies and Research

06-18-2010, 09:52 PM
A few days ago I broke down parts 1 and 2 of the Center for Studies and Research / Consultant for the CBI. The appearance of Chairman Mohammed Saleh.

Parts 1 and 2 covered the Central Bank of Iraqís financial system, partial history of its currency, the Strategic Framework Agreement, and the reintegration of the Iraqi Dinar into the flexible exchange rate system that is recognized internationally. Although these articles are translated into English, Iíve had some individuals contact me asking to further clarify these articles into simpler terms. Iíve taken it upon myself to add additional information or further explanation beyond what the articles entail for mere educational purposes.

While it is easy to sit and read any of these documents as most of you do and are doing now, it is sometimes difficult to truly understand what is being said if you do not know the background or further knowledge of the topics being discussed. If you are an individual who already has a firm grasp on economic financial systems or global politics then you might find this to be more than what you need, however Iím writing this for the newer investors who are unfamiliar with what they are reading.

It was brought to my attention that a few who had read parts 1 and 2 of this study had seen the articles as reflecting negatively upon our investment, however they are anything but negative! These are fantastic and further prove that we have made a very wise choice in deciding to invest in the Iraqi currency. While this has been a long road we are close to the end.

Iíll move on to explaining part 3 of the Center for Studies and Research / Consultant for the CBI. The appearance of Chairman Mohammed Saleh, which was published yesterday. After I go through explaining and making the article easier to comprehend Iíll add some additional thoughts.

Mohammed Saleh of The Central Bank of Iraq believes that the current monetary policy, being that of a fixed rate on the Iraqi Dinar, is a natural and beneficial way of maintaining the financial system, which is based on market competition. However, the CBI desires to expand the Iraqi Dinar into the international market by joining the flexible exchange rate system in effort to join in global financial community.

Yet, it is important that the CBI continues surveillance on the flow of monies in order to curb possible illegal activities such as money laundering, terrorism, or tax evasion by Iraqi citizens depositing their monies in banks abroad.

The CBI wishes to leave behind the era of Saddam Hussein and no longer wishes to restrict the flow of foreign currency exchange. They are anticipating the upcoming freedom for its citizens and brighter economic climate within Iraq. The era of Saddam Hussein was narrowed by suppression of the Iraqi people who had limited freedom to own and dispose of legitimate economic rights. Chairman Saleh described this era as dark economic times specifically in the area of foreign currency exchange and as a result it left Iraq isolated from their neighbors as well as the global community.

He expressed excitement at the new horizon that stood before the people of Iraq. The provisions of Article VIII of the International Monetary Fund Convention, allows member countries to adopt freedom of foreign currency exchange by joining the flexible exchange rate system and it further allows member countries to lift restrictions upon its citizens and provide freedom to move monies with the exception of illegal cash flows as mentioned above. Individuals who partake in money laundering or other illegal actives hinder the value of the currency and restrict its growth by creating a parallel markets similar to the current model of North Korea.

Within a restricted monetary system these types of activities are greatly reduced, however the CBI does not wish to restrict its citizens even though the cost of surveillance will be a burden. By not adopting Article VIII and joining the global financial community the country of Iraq would only generate a negative financial system that would weaken its capacity and ability to attract foreign investments nor capital (cash) flow from within or globally.

The GOI/CBI is anticipating the Investment Law No. 13 of 2006. However, they wish to take the proper steps as to not repeat the mistake of others such as the problems that occurred within South East Asia during the years of 1997 Ė 1999. South East Asia experienced an endemic that proved to be detrimental to its economy due to the flight of foreign capitals, investment portfolios, deposits and various debt issues of high liquidity (currency in circulation) while having weak foreign reserves available. South East Asia experienced an imbalance within their budget pertaining to the balance of payments and their deficit. The situation proved to be unprecedented and resulted in the collapse of the currency exchange rates.

However, in spite of this, Iraq has little concern of joining the flexible exchange system. The CBI is seeking a monetary policy and has been doubling up on their foreign reserves to date, in order to create a firm foundation to cope with issues that might arise concerning external balances (debt) of the national economy because of currency speculation and capital flight abroad. They wish to be greatly prepared for any strong shocks to its economic system due to external factors.

In light of what has already been mentioned above, the CBI does not see its current monetary policy as one that would provide freedom and instead it restricts movement of cash flows to and from the country even though the current policy had controls and regulations in place that restrict money laundering, crime and terrorism. He believes the current monetary system is conflicting with the CBIís greater goal of economic freedom.

He states that it is the of the CBI to take on the responsibility of Iraqís economic stability, encourage communication between government organizations and others in order to strengthen the control of illicit money and fight economic crime which is the responsibility of all.

Between the State and Monetary Stability

Monetary policies or dollarization is one of the most important challenges within any monetary policy of developing nations. Iraq in particularly used the United States dollar as a substitution of its national currency in transactions and contracts internally as well as externally in order to function.

In spite of Iraq using the United States dollar for its transactions the country also used mostly loans granted in foreign currency and extended the pay back of these loans over long periods of time. 70% of the loans derived from Latin American.

The CBI supports joining the IMF who has allowed them to partially dollarize within its borders. However, while following the IMFís agreement to promote sovereignty of the Iraqi economy by partially dollarizing their country theyíve found that of the bank deposits reflect that only 30% is actual Iraq Dinar, while the remaining is still that of the United States dollar, which is showing proof of a parallel currency within its borders still today. The amount of USD that is in circulation at any one time can extend upwards of 80% outside of the banking sector. Yet, the 30% of Iraq Dinar that is in circulation within its borders is proving to settle transactions and payments on a domestic level.

Notwithstanding the current monetary policy set forth by the IMF and adopted by the CBI to achieve the goal of stability, the parallel currency challenges of the USD in circulation has decreased with the adoption of monetary policies to strengthen the external value of the Dinar, which has increased in value by more than 40% of the last five years.

The challenges of de-dollarizing the Iraqi economy proved to be a struggle with competing against the high exchange rate of the USD, however now they are seeing signs that the Iraqi people are beginning to show faith within their local currency and strengthening the Iraqi peoples view of the their financial systems.

The country of Iraq is experiencing the largest reformation of monetary policy seen by meeting specific targets set forth by the IMF to achieve stability with the value of the IQD and the growth required to accelerate the development of opportunities, advance the process of government operations, manage domestic interest rates in order to achieve the intermediate objectives of the monetary policy itself. In this regard, the purpose of dollarization is a measure of monetary effectiveness set forth in effort to make the Iraqi Dinar more attractive, which is shown by the monetary demand or stability.

Seignorageis one of the sources of revenue generating strong cash charges resulting from increased demand for the Iraqi Dinar. It has been a positive reflection on the income disclosed in the annual financial statements of central banks.

In spite of this transitional phase of de-dollarization, the CBI uses the method of auctions to control aggregate demand through levels of reserve liquidity (foreign reserve deposits) generated mainly by government spending and inflationary pressure resulting from within it. The auction achieves three objectives:

1) It serves as an intervening tool to achieve stability with the value of the Iraqi Dinar by defending the exchange rate equilibrium, which has kept inflation down, especially that of imported goods and strengthen the export base.

2) It has provided a means of applying an indirect tool of the monetary policy in the management of liquidity and controlled economic stability by providing a continuous basis for achieving a balance within the money market.

3) It has proved to be the main source of funding for the private sector of trade and goods as well as other services needed by the country.

The previous dictator supported a financial policy prior to the war that weakened the economy, and adopted monetary policies that were unable to fund the general budget, which has delayed economic growth for decades and as a result it plunged the country into a massive wave of hyperinflation and the continued instability upon the value of goods. It plunged the country into a prolonged recession that led to the deterioration in economic and social development, which is still seen today.

In consideration to the challenges the current government is facing due to what the former Hussein regime left behind, they have been able to combat the hyper-inflationary pressure that had set in by managing the value of the Dinar as well as interest rates. For the first time in decades, even though the value is nominal, the Dinar has seen stability. The current interest rate is keeping inflation low and as a combined result for the first time in three decades the CBI has greater ability to advance the financial system by continuing the policy of money markets and stability in face of exceptional circumstances.

Three years ago the rate of inflation was 34%. One year ago the rate of inflation was 20%, however today it has fallen to 5%.

The current interest rate is about 17% for most, however some interest rates are 20% - 25%. The CBI has been trying to persuade the banking sector to offer lower interest loans to encourage development and investment. The CBI may resort to adopting additional monetary tools that work as a legal way of enabling monetary policy to reduce points (cheaper loans). By giving a point deduction spread of no more than 3 percentage points it will combat the current status of 10 percentage points which is unproductive. The CBI is considering providing a national orientation to address the imbalance within the structure of interest rates to generate a stronger and healthier atmosphere in the area of financial intermediation. They believe that this step would encourage real investment opportunities within the private sector.

I hope that you were able to fully understand what the above article is trying to convey. This is all very positive for us as investors of the Iraqi Dinar. While digesting the above information try to reflect upon parts 1 and 2 of this study, and youíll find that the CBI is saying that they are eager to join international ranks!

There was a window of opportunity that had opened in October of 2009 and closed in December of 2009. Sadly, many things obstructed our investment from becoming valuable. The government of Iraq stalled on advancing their economic stance until the elections took precedence and terrorism within its border took hold. Was this done on purpose or was this simply the governmental heads too inexperienced to move in a timely manner, it is hard to say. However, since January 2010 we have seen an influx of articles pertaining to their economic stability. Weíve seen actual words written within these articles such as Dinar, revaluation and re-denomination. For those of us who have been in this for such a long time we know just how wonderful it is to actually see these issues being addressed, whereas these words had not been mentioned before. That alone shows just how close we are to the end of this trial.

During the month of October 2009 we had the G-8 meeting on financial realignment. The global leaders (United States, European Union, United Kingdom, Russia, Japan, Italy, Germany, France and Canada) met to discuss trade barriers as well as global currencies. It was during this time that it had became painfully aware that China was manipulating their currency, VND was undervalued, Venezuelaís was undervalued, as well as several others. Many of you will remember me being the first to tell you more than a year ago that approximately 13 to 14 currencies would revalue and weíve seen at least half of them already do so.

The global leaders met and had agreed that Iraq was in a wonderful position to revalue its currency, however Iraq stalled. Towards the end of October China began to cause problems with the United States and claimed that our currency was a risk and as a result they threatened to sell off their T-Bills. This was nothing more than a political maneuver by China in hopes that they might look as if they were more powerful than that of the United States. Yes, the value of the USD has fallen somewhat but not near to the degree that China was trying to insinuate.

Everyone must understand that China has been doing this for years only many of you are just now paying attention because of your interest in this investment. These advances by China are nothing new. China is consistent in causing havoc and they enjoy doing so. China is kept a bay for a reason and the G8 will continue to keep China at bay and continue to make sure that China hasnít too much power. Why do you think the US is forcing China to revalue its currency?

Sure the United States wants trade relations to stabilize but this isnít the only reason. China is growing far too fast and the G8 is looking for the fastest and safest way to slow their growth down. The only way for a communist country to economically survive is to feed off of the actual producing nations. China does so via their trade imbalances. The United States has stated that in order for the trade imbalance to correct itself they want China to increase the value of the Yuan by 8% in gradual increments, although it is undervalued approximately 10-40% against other currencies. The Chinese economy faces several hurdles that have been created by its communist theories. The country runs on government run banking sectors unlike the United States and these banking sectors are completely unorganized and overran by corruption. The Chinese government has dropped their interest rates for so many consecutive years that the economy is on the verge of imploding in some respects. The Chinese government is growing at a rate faster than what they have planned for due to the housing and automotive sales. Unfortunately, the Chinese government did not consider oil consumption while watching their housing and automotive markets sore, because they are now in a mad scramble for oil, in order to supply fuel for vehicles and heating.

Timothy Geithner has said that the U.S. is considering imposing trade sanctions and they just might do it. The global community is already taking measures to limit their funding to China, such as the United Kingdom's move to stop funding aid to the bloated country. The United Kingdom sent 40m pounds to China from 2008-09 alone. But trade sanctions are only a minor issue in comparison with the new carbon laws that the UN is making grounds on. The UN has been working on climate change laws that would restrict the CO2. emissions. China is one of the leading threats to our environment in the eyes of the individuals who believe this propaganda of climate change. If the UN succeeds with the new carbon laws China will be forced to pay out millions to retool their factories in order to meet the demands. China is trying everything in its power to offset this process.

If you noticed, China is not part of the top G8 who are the actual figureheads of the world. There is a reason for this. If you look at the list of the G8 they all have good relations with one another and hardly see upsets either on a political or economic level. The only exception could be that of Russia in concerning the arms issues but that is small in consideration with the other 192 member nations of the UN.

Many of you are unaware that the United States was actually the one to create the United Nations in 1945 under Franklin D. Rooseveltís administration. Ever since the first meeting, consisting of 50 nations on April 25, 1945, the United States has held the most voting power and we will continue to do so.

There are not very many nations who are truly seen as what I would coin as ďtroublemakers,Ē but the ones I would deem as troublemakers would be that of Iran, China, North Korea, Cuba, Pakistan, and Saudi Arabia. These nations have shown to cause political upset when the global leaders desiring advancement. If you are on top of your current events youíll notice that each of the nations I just mentioned are in the news on a daily basis, it seems. Lol

There is so very much currently taking place across the globe that it would be endless for me to list here within this article. I will not bore you with all the political upsets that are taking place seeing as your only interest is pertaining to that of the Iraqi Dinar or the Vietnam Dong. However, you must understand that everything is interconnected. We cannot solely look at what is occurring within Iraqís or Vietnamís borders to truly understand what is taking place or grasp what steps are actually being taken to revalue these currencies.

We are currently experiencing a global recession with the exception of Switzerland who recently reported that they will hardly feel any affects due to the actions they had taken a few years ago. The global leaders have taken a step back and studied what needs to occur in order to stabilize the global economy, and in doing so theyíve came to the conclusion that there is trade imbalances that are currently in place. In laymenís terms, the global leaders do not believe it is fair for certain countries to be benefiting from undervalued currencies and essentially creating a monopoly on industry by being an attractive location to build factories and have cheap labor thus prospering at a rate greater than the countries they are exporting to. One example of this would be the trade imbalance between China and the United States.

That is the reason why we are hearing of so many countries revaluing or devaluing their currencies. Now, will the United States devalue its currency? Absolutely not. One reason would be that we produce most of the common every day goods within our borders and our exporting is not great enough to be of concern. In fact, China was complaining because the value of the dollar had fallen and they wanted reassurance that it would rise again. Of course this issue was quickly dropped once the light was shown upon their currency manipulation. Lol

Many speak of a global currency created under a new world order. I donít see this being an issue for many many many years. Too many steps would have to take place in order for that to occur without there being a global uprising. I can speak for pages on this topic alone as to why this is not an issue within our near future.

I hope that Iíve addressed some of the current hot topics that Iíve seen flying across the chat roomís screen throughout the day. If you have questions about any of the above-mentioned topics please feel free to ask and Iíll consider expanding upon them.

06-18-2010, 09:59 PM
Third: the monetary policy, financial flows, movement

In spite of this, however, such fears are still very limited impact on Iraq, in order to double the flow of foreign capital involved until now. However, seeking monetary policy the Central Bank of Iraq to the currency composition of reserves sufficient glittering, focused primarily foundation To cope with any contingencies may be exposed to the external balance of the national economy because of the potential currency speculation and capital flight abroad Surprise, as well as sensitivity to any adverse surprises may be the subject to the national economy resulting from the strong shocks Movements by external financial spam.

In the light of the foregoing, I do not see that the current monetary policy of the country is one of the style that supports restricting the movement of cash flows to and from outside the country as long as Taatqtaa
With controls And the regulations and directives in force Almcdjapllaguetsad Aharola conflict at the same time and conditions of foreign exchange, especially the law against money laundering and money, crime and terrorism.

I find that the CBI financial entity is responsible for the economic stability of the country, encourages communication and consultation offered by the competent organs and control devices Others in order to deepen the control on the movement of illicit money
And the fight against economic crime and prosecution is a national responsibility and joint responsibility of everyone.

Monetary policy in the face of contradiction

بBetween the State and monetary stability

Is dollarization is one of the most important challenges facing the makers of monetary policy in developing countries in general and Iraq in particular and that meant the use of United States dollars or any foreign currency to the ability of substitution of the national currency in transactions and contracts of internal financial and promise a store of value in the same time.

In spite of the financial dollarization, composed mostly of local loans granted in foreign currency over a long period, which stands
In some countries of Latin America to about 70% of the total loans granted locally, but
Central Bank of Iraq, supports one of the concepts of international financial institutions, amended, to express the phenomenon of dollarization in Iraq.

Partial Dollarization
The dominant conception of the IMF regarding the partial dollarization partial Dollarization
Is the largest expression of the reality of the phenomenon of dollarization and sovereignty of the Iraqi economy. If the bank deposits to money supply in the broad sense of more than 30%, the phenomenon of dollarization of the country lives in part.
Parallel Currency
But if one takes into account the installation of the money supply, which is dominated by the nature of currency in circulation, which sometimes extend to 80% of the total money supply, we find that the United States dollar is still caught on to it a parallel currency in circulation outside the banking system Parallel Currency
In the settlement of transactions and payments of domestic monetary
Promise a good store of value
It can be said that the phenomenon of partial dollarization is still prevalent and not exceeding 30% in the settlement of the movement of cash transactions in the local economy.

Notwithstanding the foregoing, the monetary policy Adopted by the Central Bank of Iraq as part of Strutijeth to achieve the goal of stability, has shown that the financial system Almdolr taking a drive towards a gradual decrease, and the phenomenon of dollarization partial and roots are now less than before, because freeing the foreign exchange and the adoption of monetary policy to strengthen the external value of Iraqi dinar, which increased during the last five years to more than 40%.

Took the expectations of rationality to the public pour all around to keep the Iraqi dinar because of the gradual improvement in the value of Iraqi Dinar and the high exchange rate against the U.S. dollar, having started the monetary policy, the establishment of a framework for effectively working towards the strengthening of trust in Iraqi dinars, which help confidence in local currency, the creation of conditions strong and deep in the stability of the financial system.

With this, the phenomenon of de-dollarization Alladolrp One of the main objectives of monetary policy in our country in the face of

Partial dollarization.
The response of the dollarization of the central banks give much

The largest to reformulate its monetary policy and in accordance with specific targets to achieve stability in the general level of prices and building the required growth and accelerate the development opportunities and advance the process of operating in the country and strengthen at the same time the link between domestic interest rates and change the overall spending, or domestic demand, and supports the effectiveness of movements exchange rates, for, all in the improvement of mechanical moving cash, any transfer of the impact of the operational goals of monetary policy to achieve the intermediate objectives of monetary policy itself.

Stating in this regard, that the strength of response of dollarization, is a measure of the effectiveness of monetary policy in the provision of reference moving to make the Iraqi dinar is more attractive, which usually reflected the stability function of the monetary demand or low speed of money circulation, stability and so influenced by my reference exchange rate, interest rate and Adahma variables active mentors in the stability of the monetary demand and the strengthening of mechanical moving cash at the same time.

And Aevotna, that the policy Alladolrp, is one of the sources of revenue generating strong cash charges Version Seignorage

Resulting from increased demand for local currency, which reflected positively on the income disclosed in the annual financial statements of central banks and strengthen the status of net wealth of the balance sheet in such banks or central banks.

In spite of this, seeking monetary policy strategy in building the path of stability in this transitional phase through which Iraq is to provide a stable environment to attract growth and economic prosperity starting Baktall cash becomes today a strong and firm, and in this context is the auction of foreign currency and means of monetary policy directly affecting the cash basis of the country in order to control aggregate demand through the levels of liquidity generated mainly by government spending and inflationary pressures resulting from it, where would the auction in question achieve three objectives:

1 -

Intervention as a tool to achieve stability in the Iraqi dinar by defending the exchange rate equilibrium, which reflected positively on the general level of prices, especially of imported goods and inputs to final production and strengthen the export base.

Means of applying the indirect tools of monetary policy in the management of liquidity and control over the economy Mnasebha, is a case of the application of open market operations required a continuous basis to achieve balance in the money market and strengthen the opportunities for financial stability.

A main source of financing private sector trade of goods and services needed by the Iraqi market and financed essential.

In this fed monetary policy adopted by the Central Bank of Iraq

In all directions and since the Iraqi Central Bank Law No. 56 of 2004 towards the provision of opportunities for stability and success of the national economy. The only policy that is almost unique to such an overall objectiveIn tackling inflation and reducing the annual increase in the overall level of prices and the strengthening of stability in the financial system at the same time, as Is the monetary policy
Self-produced for a public good is unique in its importance a commodity to maintain the stability of the purchasing power of the national currency.

Especially after those associated with policy reform basic synchronization Bajrat the goal of strengthening the bonds of the money market and brokerage operations with the imperatives of foreign exchange market stability and support the stability of the external value of the Iraqi dinar, as a government to achieve Twasenhma signals Sareeten powerful signals from the market, which were endorsed monetary policy to achieve the goals mentioned by

Two reference interest rate on the dinar reference rate and the Iraqi dinar exchange at the foreign currency.

Valthrr financial markets witnessed in Iraq Over the past five years

Illustrated by actual financial market patriotism through freedom of the banking system and the launch of its ability to determine the interest rates payable and the city has, which promised an essential element of the strengthening of financial intermediation is the core of financial stability, especially after it was abandoned measures are enforced by the monetary policies of the previous adoption Through direct means, the resort to indirect policies that support market forces in order to avoid the phenomenon of fiscal restraint and the development of ceilings on bank credit or assigning credit or the imposition of administrative interest rates outside the market forces and balances

. Where he led the braking financial policies prior to the deviation of the financial market and weaken the climate brokerage, as well as the adoption of monetary policy cheap for lending to the general budget, which has delayed economic development for decades and plunged the country into a massive wave of hyperinflation and the continued and replaced speculative price on goods and services subject productive investment and low total savings Which plunged the country into a prolonged recession led to a deterioration in economic and social development which, to a level that threadbare economies, a phenomenon that still live some of their dark until this moment.

As The success achieved by the current monetary policy in the face of hyper-inflation of the country and use a reference interest rate monetary policy
policy rate .

policy rate as part of its dealings with the banking system, had the greatest impact in the face of inflationary expectations in the ongoing and expanding, which was torn and crushed in Asagraralblad investment decisions in the interest of the real sectors of the speculation.

This has made a reference interest rate

Nominal On the Iraqi dinar For the first time with a hint of the nominal exchange rate momentum Astaqraria strong, reflected in turn on the stability of the transactions in the national economy and helped to maintain On real interest rates positive for the first time in the history of the country (after more than three decades) than the nominal interest rate on the inflation rates, which enhanced the ability of the financial system to continue and give the money market opportunity, stability and durability in the most exceptional circumstances that our country has undergone in recent years since 2003.

With the decline in inflation is the foundation of 34% per annum three years ago to about 5% per annum with the present and to engage in the era of rank decimal one for inflation, the reference interest rate adopted by the Central Bank has landed the other with lower inflation from 20% a year to less than 5 % currently, having achieved Useful signal of monetary policy goal of achieving strong returns on the Iraqi dinar and turn it into a bumper currency attractive and strong in the face of inflationary expectations that the country suffered through periods of time long past.

In spite of liberalization of the financial market and subordinating monetary policy to work according to market mechanisms, as well as giving financial system in general and the banking system, in particular the freedom to determine interest rates Bnevshma without direct intervention from the Central Bank of Iraq (except for the launching signal interest monetary policy), but the Central Bank of Iraq had noted regrettably that the sector of private banks had stuck to his signals, high interest on loans granted to the public and rates are still higher level of inflation which is displays the financing for development in this era of stable, experienced macroeconomic risks of economic recession and the disruption of human and material resources to the private sector
And the whole national market.

It is still interest charged by many private banks for loans extended to the public convergence of the annual averages about 17%, but up-date interest
In some of them to between 20% - 25% annually.

That the policy of persuasion or moral influence with a group of different banks and urged them to reduce interest rate levied on loans granted and encourage them to grant credit to serve the development of economic activity in the country is perhaps a preliminary central bank may resort to the adoption of additional measures could be state sponsorship Aoahiana Legal, enabling monetary policy to reduce points spread between the interest rates payable and bank interest of the city (where the point where, unfortunately, in some banking entities is less than what can be on savings deposits and higher what can the credit granted to the public) by making the deployment points at normal levels not exceeding 3 points in accordance with banking practices, natural, instead of the current status of 10 points
Which is intersecting with the objectives of financial stability in accordance with the standard indicators of Banking Supervision
ا ,
International orientation and required to address the imbalance in the structure of interest rates, banking, is to generate a strong and healthy atmosphere in the conduct of financial intermediation, In the midst of the economic policy direction for the country in general and monetary policy in particular to encourage real investment and strengthen the development opportunities in the private sector through a foster strong stability provided by monetary policy through the application of
Their stability, in the past three years her.


06-18-2010, 11:04 PM
Thank you Groovegal for this lengthy but informative report on Iraq's monetary and economic policies. You really have a gift for breaking this all down, as does Medic. We so appreciate you!!

06-18-2010, 11:06 PM
You're welcome Goldenpond. And thank you :)

06-18-2010, 11:19 PM
Wow, Groovgal for President! Although I don't know if you'd want the job. I think you should have you own column though, because for me, you have renewed my faith in this investment! Thanks Gal lol

06-18-2010, 11:30 PM
Thanks Groovgal. Your input is always greatly appreciated.

Aunt Gwennie
06-18-2010, 11:38 PM
Thank you so much Groovgal. SUPER POSTING

06-19-2010, 12:02 AM
GG again thank you so much for the incredible explanation.....as you have explained there are allot of dynamics involved......I try to let this be understood that it is not as simple as the IMF just sayin RV......We are winding down and what the exact catalyst for the revalue or redenomination or rebase is.....only those who actually will make the final decision know.....

06-19-2010, 12:07 AM
Awsome Groovegal , appreciated for sure :)

miss aloha
06-19-2010, 12:20 AM
Thank You GG,
Excellent!! I truely appreciate your explanation.

06-19-2010, 03:57 AM
Awesome work GG!

06-19-2010, 06:29 AM
Groovgal, Your efforts of explanation and heart felt sincerity upon this matter speaks volumes that we all can feel down to the cellular level! Thank you for taking the time out of your day to put pen to paper in a way that not only helps us, but shows us that good things are happening and our day along with Iraq's is coming. Keep it comin' girl!
Bless you!
Tropical and fragrant Alohas!

06-19-2010, 07:18 AM
Groovgal, You have an amazing gift! It is one thing to expound facts about an investment such as this, and quite another to be able to expound those facts in such a way that it is easy to read and understand. Thanks.

06-19-2010, 07:25 AM
groov thanks again for your time and knowledge ....

06-19-2010, 08:18 AM
Groovgal that is just amazing, thank you for your time and all the info. you provide to us

06-19-2010, 08:38 AM
The time and effort that you put into these posts that help break down economics in away that us lay people can understand is truly appreciated, thank you so much.

06-19-2010, 09:04 AM
Thanks GG! Excellent read!

06-19-2010, 09:16 AM
Thank you GG. Your insight into this area is truly outstanding, and you sertainly do help me to understand what is going on in international financial circles.

06-19-2010, 09:43 AM
Thank you GG, Nice overview! Looks like China is going to come in line now. The news this morning indicated that at least. Political posturing for the coming G20, I guess, however at our expense for the last two years.


06-19-2010, 10:30 AM
Thank you again Groovgal.

06-19-2010, 11:18 AM
Awe, you all are so very very sweet! I'm glad you find my droning helpful in some way! It's somewhat therapeutic for me to type all my thoughts out in this manner rather than within the chat rooms where I can get sidetracked from thought. :)

Med, You do a fantastic job of explaining the current drama unfolding in Iraq on an everyday basis! I don't know how you do it! This is truly an exceptionally educational and fun forum! :)

06-19-2010, 12:04 PM
Thank you, GG. Great job!

06-19-2010, 12:27 PM
Thanks Groovegal for this article, that was sweet of you and a big help to a lot of us, I always try to keep on open mind and try and get the whole picture knowing that a lot of other countries play into our investment also!!

06-19-2010, 12:44 PM
This is a very interesting article. You have made everything fall into place and understandable. Thank you Thank you,

06-19-2010, 01:04 PM
Great post Groove gal. thx for your imput.

06-19-2010, 02:40 PM
great job once again gg. way to put it in ENGLISH for us dumb people "in economics that is.."

06-19-2010, 02:44 PM
Groovgal, you have an amazing way with words. Your explaination is so easy to understand. From a common person like me, Thank You soooo much

06-19-2010, 07:20 PM
Educational to say the least! I feel very empowered with my newly acquired global economic acumen ;) Thanks for the detailed analysis and insight, GG & Med!

06-19-2010, 08:53 PM
Thanks groovgal!
But what is "seignorageis"?

06-19-2010, 11:51 PM
Thank you Groovegal for all your hard work and time that you put into everything you do....you are very greatly appreciated :) Keep it up! You are a true asset to us on this site and on DV and I for one really really appreciate it and I appreciate everyone else as well...There is a lot of time that goes into every explanation and chat that goes on and that has not gone unnoticed. Thanks again!

06-20-2010, 02:17 AM
thanks so much for this explanation, groovgal! It makes everything so much easier to understand!