Posts Tagged ‘Treasury’

Economists Opinion: Speculators continue to work; Unchecked by GOI. Could be detrimental to the national economy

Posted: August 12, 2012 in Iraqi Dinar/Politics
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Date: 2012-08-12 13: 16: 28 Sunday

aghdad (News) … Noted economist Majid mock, that speculators continued to operate in the banking sector without any deterrent, Government would be detrimental to the national economy and the value of the dinar against the dollar.

He mock (News Agency news) on Sunday: that the fluctuating dinar against the dollar and falling recently got as a result of speculators who monopolize the dollar, leading to increased demand and raising its price before forcing the dinar. (more…)

Association of Iraq Banks: Proposal to tax private bank accounts

Posted: August 5, 2012 in Iraqi Dinar/Politics
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Association of Banks: Iraqi’s renew fears of statement of accounts for customers

05/08/2012

BAGHDAD / JD / .. renewed association of private banks in Iraq claim the GCT to reconsider a proposal to provide private banks with information on the accounts of customers of private banks in order to impose a tax on capital. (more…)

Iraq in the World Bank meetings in Washington

Posted: April 25, 2012 in Iraqi Dinar/Politics
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Iraq participates in the joint Spring Meetings of the World Bank and International Monetary Fund, which began Friday in the U.S. capital Washington and continue for three days.

He said Finance Minister Rafie al-Issawi, who heads the Iraqi delegation that Iraq is seeking to benefit from the experiences of the World Bank in the rehabilitation of infrastructure in all areas. (more…)

Reference: The Currency Exchange Rate Oversight Reform Act of 2011

Posted: October 5, 2011 in Iraqi Dinar/Politics
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THE CURRENCY EXCHANGE RATE OVERSIGHT REFORM ACT OF 2011

Specifies Consequences for Countries that Fail to Eliminate Currency Misalignment and Provides Tools to Address Impact of Currency Misalignment of U.S. Industries

The Brown-Schumer-Graham-Snowe-Stabenow-Sessions-Casey-Burr Currency Exchange Rate Oversight Act of 2011 will reform and enhance oversight of currency exchange rates.

This strong, bipartisan bill combines the best elements of a Schumer-Graham bill that was passed by the Senate Finance Committee in 2007 and separate legislation introduced this year by Senators Brown and Snowe that passed the House of Representatives in 2010.

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Gold is the True Reserve Currency

Posted: August 4, 2011 in Gold/Silver, US Economy
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The practice of using the U.S. dollar as the world’s reserve currency has become well entrenched in the minds of global investors. In fact, the system has become so habitual that many now believe there is no alternative to owning U.S. debt and dollars, simply because they are about as common as dirt.

The reasoning for this is since the market for Treasuries and greenbacks is so large; there is no other parking place for that money, which makes a mass exodus from U.S. debt holdings virtually impossible. Therefore, investors can’t sell and values can never go down in a significant manner. Such sophomoric reasoning is akin to saying IBM stock can never fall precipitously unless most owners decided to sell their shares.

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China could be forced to revalue currency

Posted: February 5, 2011 in Iraqi Dinar/Politics
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The Obama administration declined to name China a currency manipulator on Friday, even though it said the yuan was “substantially undervalued,” sparking fresh calls for legislative retaliation to try to reduce a swelling US trade deficit.

Treasury said China’s yuan should rise more quickly but said it lacked evidence to label Beijing a manipulator, a designation that could trigger trade action.

read more of the story: http://bit.ly/fyDGRT