Dinar in circulation

[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/documents/key%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.....

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 August 7, 2012 by MrFnHappy

[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 August 7, 2012 by MrFnHappy

[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.

[doctor robbins]

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)

Except that the pre 2003 value wasn't 3.22ish. Dinar History

[keepmwlknfny]

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)

Not really.....the currency is still diluted....if they increased the reserves tremendously, maybe tripling it, and the money supply stays constant, then its possible to see a higher rate based on the way they are backing the dinar....

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

Would explain why they put other entities in charge of over seeing certain things such as the DFI, and having outside agencies auditing their financials....to try and keep the corruption at bay...

[caz1104]

Not really.....the currency is still diluted....if they increased the reserves tremendously, maybe tripling it, and the money supply stays constant, then its possible to see a higher rate based on the way they are backing the dinar....

Would explain why they put other entities in charge of over seeing certain things such as the DFI, and having outside agencies auditing their financials....to try and keep the corruption at bay...

Hey Dad,thanks for the response. Still don't trust em-lol

[zigmeister]

I still wonder about this printing gig. Last week there was an article clarifying the printers to print the new currency. As I recall they mentioned the two printers who printed the dinar we hold, was the two printers who printed the dinar from 2003 to 2005. The way it was referenced sounded like these companies were the last to print their dinar. I suspect Iraq had all dinar pre-dated up to 2010. If they have continued to print who was it and why are they choosing other companies in other countries to print the new currency? If every dinar was printed between 2003 to 2010 the estimate of currency out there was between 5 trillion to 25 trillion.

I suspect Iraq is more dollarized than we think. I also suspect Iraq is the king of the guru's. They are very aware of the dinar investment here in the US and other countries and played it well. They have made money and filled their coffers. The question is will they complete the promise or will they shut us down with an RD?

Central denies two foreign companies choose to print the new currency

Topic 5 has been read times

Author: the future of Iraq

08.02.2012 0:00

BAGHDAD / Future of Iraq

has denied Iraqi Central Bank reported on the selection of two foreign companies for the printing of new currency after deletion of zeros of them.

the bank said in a statement on Wednesday, received the "Future of Iraq," a copy of it, "he did not choose any company so far and it is in the process of gathering information and preparing Design and consultation with the Government in the case of the restructuring of the currency and delete zeros of them, "adding that" he had seen on the statements published to the Governor Shabibi noted the error attributable to the governor that he chose the two foreign companies for the printing of currency. "

He said, "the governor by referring to the two companies were on the current currency which has printed by two major foreign languages ​​specialized printing paper currency between 2003 and 2005. "

The Information Office of the House of Representatives was quoted Central Bank Governor Sinan Shabibi said the bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency.

Shabibi said in a meeting with the Finance Committee, House of Representatives that "the central bank chose a British company and the other a German among the many international companies to complete the process of printing the new currency being the Ttavan about 75% of the currencies in the countries of the world," adding that "the central bank has reserves of the currency so as to enable of the process of deletion of zeros and coverage significantly. "

My link

[cooked]

If every dinar was printed between 2003 to 2010 the estimate of currency out there was between 5 trillion to 25 trillion.

Read more:

Doesn't make you wonder what is going on? I have a hard time believing any numbers put out by Iraq. Just not sure what to believe anymore.