32 replies to this topic

[cooked]

Can anyone find the "true" amount of dinar in circulation before Sadam started printing more as reported by some? I am not very good at digging up this stuff but know we have some who are excellent at this. I would just like to see how much was in circulation in 2003 vs now, just to get an idea of how much of a role overprinting may have to do with the decreased value of the dinar. I find it hard to believe they printed 1000 times the amount that was in circulation, since that seems to be the approximate percent that the dinar is devalued. Can someone help me put these numbers in perspective? Thanks for your help.

[keepmwlknfny]

http://www.cbi.iq/do...y financial.xls


Look at line 79....currency outside banks....it only goes back to 2002.....

They had over 2 trillion dinar in circulation before we invaded.....in 2003 it had jumped to over 4 trillion.....

http://www.cbi.iq/do...20financial.xls


Look at line 79....currency outside banks....it only goes back to 2002.....

They had over 2 trillion dinar in circulation before we invaded.....in 2003 it had jumped to over 4 trillion.....

But just remember that as the amount in circulation grew, so did the amount in reserves which is why we didnt see it drop more.....

[cooked1]

So how did it jump 27 or so that is said to be out? Did they keep printing or what?

[keepmwlknfny]

So how did it jump 27 or so that is said to be out? Did they keep printing or what?

If you follow the line all the way over through the years you can basically watch it jump up year after year gradually till what it is today.

They apparently did just keep printing. With a lower value you would need more of it to buy the same things and then I also do believe that as an economy grows, its money supply will also grow naturally....

It makes sense because you can also check the dates on the bills we have and when they were printed.....Ive seen people on here report dates scattered from 2004-2010.....

And according to the CBIs monetary policies, they do exclude currency that has been turned in (damaged) for new bills, and un-issued bills from the money supply numbers....

[MrFnHappy]

If you follow the line all the way over through the years you can basically watch it jump up year after year gradually till what it is today.

They apparently did just keep printing. With a lower value you would need more of it to buy the same things and then I also do believe that as an economy grows, its money supply will also grow naturally....

It makes sense because you can also check the dates on the bills we have and when they were printed.....Ive seen people on here report dates scattered from 2004-2010.....

And according to the CBIs monetary policies, they do exclude currency that has been turned in (damaged) for new bills, and un-issued bills from the money supply numbers....

Solid post. Spot on.

I would just like to add that as an economy grows, either the money supply grows, or the value rises...the CBI has done both.

Edited by MrFnHappy, 06 August 2012 - 06:04 PM.

[keepmwlknfny]

Solid post. Spot on.

I would just like to add that as an economy grows, either the money supply grows, or the value rises...the CBI has done both.

Thanks, we do have to give them credit for that at least! Keeping the exchange rate stable as the supply increased!

[TonyDownTheShore]

Cooked, I don't care what anybody says. here or any other forum, NOBODY KNOWS, CBI doesn't give the real number, until I see 100% proof NOBODY KNOWS THE REAL NUMBER, jmo.



ps sorry for the screaming.

[MrFnHappy]

Thanks, we do have to give them credit for that at least! Keeping the exchange rate stable as the supply increased!

Your welcome.
From an economic standpoint, Shabibi has done his job well.

Edited by MrFnHappy, 06 August 2012 - 06:13 PM.

[jon29]

So how did it jump 27 or so that is said to be out? Did they keep printing or what?

There are vast underground vaults that go on for miles filled with the stuff. It would take the most experienced mathmetician years to count it all.

[keepmwlknfny]

Cooked, I don't care what anybody says. here or any other forum, NOBODY KNOWS, CBI doesn't give the real number, until I see 100% proof NOBODY KNOWS THE REAL NUMBER, jmo.



ps sorry for the screaming.

You dont think that in Iraqs position, where they come from, and where they are trying to go, that they would need to prove it to the world, being transparently financially to build trust around the globe? I mean they are one of the most corrupt countries in the world......the IMF reports show those kinds of numbers (which has been posted before) and the independent agencies that are hired to audit the financials of the CBI are quite close as well....

[magawatt]

If we're lucky they have been holding onto the dinars that are in good shape and only rereleasing the torn and worn out ones.

[TonyDownTheShore]

You dont think that in Iraqs position, where they come from, and where they are trying to go, that they would need to prove it to the world, being transparently financially to build trust around the globe? I mean they are one of the most corrupt countries in the world......the IMF reports show those kinds of numbers (which has been posted before) and the independent agencies that are hired to audit the financials of the CBI are quite close as well....

In my opinion they don't need to be transparent to me or you, IMF has the real numbers, they have been up to date with their budget for the past few years so they know exactly what's going on, if you see what TrinityeXchange brought to us about the budget you can see there's some questions to be answered, so I don't believe we have the real numbers.

[cooked1]

Keep, its hard to argue your point. I do however wonder how true the CBI hasbeen with thier reports. Thanks.

[sandstorm]

Cooked, I don't care what anybody says. here or any other forum, NOBODY KNOWS, CBI doesn't give the real number, until I see 100% proof NOBODY KNOWS THE REAL NUMBER, jmo.



ps sorry for the screaming.

If....the cbi has been lying, and their numbers are off by trillions and rv to a dollar, the world financial market will crumble. all faith in a. global system will be gone, and all standards and rules will fall to the wayside. you would see the crumbling an exterination of the global system. if the imf allowed iraq to report ficticious records its all over. including ernetlst and young..
.they would go under and they would lose integrity across the world instantly. bottom line. imo its impossible for them to allow fictisious statistics. not to mention a total loss in investor confidence in iraq and their record keeping.

what you are theorizing would ultimately be the extinction of a global financial system.

[TonyDownTheShore]

If....the cbi has been lying, and their numbers are off by trillions and rv to a dollar, the world financial market will crumble. all faith in a. global system will be gone, and all standards and rules will fall to the wayside. you would see the crumbling an exterination of the global system. if the imf allowed iraq to report ficticious records its all over. including ernetlst and young..
.they would go under and they would lose integrity across the world instantly. bottom line. imo its impossible for them to allow fictisious statistics. not to mention a total loss in investor confidence in iraq and their record keeping.

what you are theorizing would ultimately be the extinction of a global financial system.

You have your opinion and I have mine, I didn't say they're giving out ficticious numbers, they just don't update it as they should, and Adam has said many times he doen't trust the numbers they put out and what the government says, the powers that are helping Iraq have the actual numbers and you and I will never see it, maybe when this is all said and done will see the real numbers mean while we all speculate, which is what you're doing.

[jaman]

If....the cbi has been lying, and their numbers are off by trillions and rv to a dollar, the world financial market will crumble. all faith in a. global system will be gone, and all standards and rules will fall to the wayside. you would see the crumbling an exterination of the global system. if the imf allowed iraq to report ficticious records its all over. including ernetlst and young..
.they would go under and they would lose integrity across the world instantly. bottom line. imo its impossible for them to allow fictisious statistics. not to mention a total loss in investor confidence in iraq and their record keeping.

what you are theorizing would ultimately be the extinction of a global financial system.

A great example of false numbers would be the ..enron scandal

[sandstorm]

You have your opinion and I have mine, I didn't say they're giving out ficticious numbers, they just don't update it as they should, and Adam has said many times he doen't trust the numbers they put out and what the government says, the powers that are helping Iraq have the actual numbers and you and I will never see it, maybe when this is all said and done will see the real numbers mean while we all speculate, which is what you're doing.

Yep...just different opinions. i just see the destruction of the worlds record keeping standards. that would jeopardize every other central bank and their monetary policies coming into questioning. Basically the destruction of all currencies and zero global faith.

i guess im being negged for an opinion. but ill give you a +1.

I hope te numbers are wrong...but its unimaginable for me. have a good day.

[caz1104]

I was just reading the responses and the one from Keep made me pause. In one sentence he states what is a given "Iraq is very corrupt" (paraphrase). Then talks about how Iraq financials need to be "transparent". How can anyone trust anything Iraq states as being upfront and honest when it has no history of being such? Time will tell what is accurate and what is crapola.Peace

[blaineage]

Question....(and I admit to not being as well versed as some) but if they have increased the currency in circulation by a factor of 50, and the pre 2003 value was 3.22ish. All other things being equal, wouldn't that value the dinar at about 6.5 cents? ( a big leap with all other factors I know)

[cooked1]

Question....(and I admit to not being as well versed as some) but if they have increased the currency in circulation by a factor of 50, and the pre 2003 value was 3.22ish. All other things being equal, wouldn't that value the dinar at about 6.5 cents? ( a big leap with all other factors I know)

And this is where Adam gets his 10 cent theory. Hope it is close.