Prove it to me.

[coorslite21]

"Cooked"......Good to see you around again. I understand your question and thoughts. A simple answer would be that an RI, or reinstatement of a value for the IQD will occur. The UN took the value from the dinar. That value can be added again. This is what happened in Kuwait. The value of that currency was reduced to nothing when they were pillaged by Iraq, even setting all of the oil wells on fire as they were driven out. The value of that currency was restored. They can reinstate/restore the value of the IQD to whatever they believe the value should be in todays world, at any time.

If you want to get into all of the BIS, World Bank, IMF, and Central Banking discussions, that is a whole different world, and they pretty much control the entire world of finance and are able to do pretty much anything they want regarding the currencies of the world.

[stealthwarrior]

My numbers come from my booky in Waco

[dontlop]

This is off the cbi web site I know I e seen it

I've read articles that claim iraq has 4 billion " notes" , and is trying to get that number down to 1 billion " notes "

I was always thinking their had to be a pile of smaller notes to make up that many notes

But this chart shows the majority are the big ones

But I still can't count up 4 billion " notes "

off that chart under currency issued

They are only showing around 50 million notes all together

Your only looking at the purple column to get total amount issued

Like this article states

The independent Iraqi News Agency (INA) quoted Abdul Hussein al-Yasiri, a member of the Iraqi parliamentary Finance Committee, as saying that 2014 will witness the deletion of zeros from the Iraqi currency. He noted that the deletion will occur in coordination with the CBI, and that as a result of the project, the number of banknotes in circulation will be reduced from 4 billion to 1 billion.

Read more: http://www.al-monitor.com/pulse/originals/2013/10/dinar-currency-iraq-plans.html##ixzz3QR3t5ism

Third paragraph down

On the link

Does any one over there know what they are talking about?

Maybe it's 25 trillion dinars worth of 25k notes

But that would be 1 billion "notes" just in 25k notes

Then there woukdnt be 4 billion notes right now if that's how to read the chart

Some shady stuff going on over there

Either they are minipulating the system to protect themselves for a rv , or they are robbing the system blind or one more thing could be possible

That they and the imf and world bank are stupid or think we are stupid

Wonder where the board of supreme audit is holding Iraqs central banks audit so we can see it

4) Article 2 of the Board of Supreme Audit Law is amended to add at the end the

following paragraphs: “Fifth: Detect through audits and performance evaluations

evidence of corruption, fraud, waste, abuse and inefficiency in matters related to

the receipt, disbursement, and use of public money

http://en.m.wikisource.org/wiki/Order_77:_Board_of_Supreme_Audit

2) Article 1 of the Board of Supreme Audit Law is amended to read as follows:

“First: The Board of Supreme Audit is hereby established as a separate and

independent government institution with juridical personality empowered to

enhance the economy, efficiency, effectiveness, and credibility of the Iraqi

government. The Board shall work in conjunction with the Commission on Public

Integrity and the Inspectors General of individual ministries to ensure that the Iraqi

government remains honest, transparent and accountable to the people of Iraq.

Second: The head of the Board shall be the Board President who shall be

supported by two Deputy Presidents. The Administrator shall appoint the initial

Board President and Deputy Presidents after consultation with the Governing

Council. The terms of these appointments shall end after five years, or one year

after the adoption of a permanent constitution pursuant to the Transitional

Administrative Law, whichever is sooner. The Prime Minister shall appoint

successor Board Presidents and Deputy Presidents for terms of five years, from a

pool of three nominees for each appointment to be submitted by the Higher

Juridical Council. In submitting its nominees, the Higher Juridical Council shall

take account of any views expressed by the Board. A Board President or Deputy

President shall serve no more than two terms, whether or not successive.

Third: The Board President and Deputy Presidents shall be selected without

regard to political affiliation (consistent with applicable de-Baathification policy)

and on the basis of integrity, proven leadership, and training and experience in

accounting, auditing, financial analysis, management analysis, public

administration, or related fields. In addition, the Board President and Deputy

Presidents shall possess demonstrated knowledge, skills, abilities and experience

in conducting audits and performance evaluations.

Fourth: The Board President is at the level of minister and enjoys all the rights and

privileges of a minister, with authority over Board affairs, personnel,

establishment, and budget. The Board President is independent and may not serve

in the cabinet in any capacity.

Fifth: The Board President and Deputy Presidents can be removed from office

only for cause, as determined by the Administrator in consultation with the Iraqi

Governing Council. After the Iraqi Interim Government assumes full governance

authority in Iraq, the Board President or a Deputy President may be removed from

office only by a two-thirds vote in the body vested with national legislative

CPA/ORD/18 April 2004/77

�

authority, for incapacity, serious misconduct in or out of office, dereliction of

duty, or gross abuse of office.”

3) Article 2 of the Board of Supreme Audit Law, paragraph Fourth, is amended to

read as follows: “Promulgate auditing and accounting regulations, based on

internationally accepted auditing and accounting standards and best practices, and

cooperate with the Commission on Public Integrity to continually improve the

rules, practices, and standards applicable to the management, accounting and

auditing of public funds in Iraq.”

4) Article 2 of the Board of Supreme Audit Law is amended to add at the end the

following paragraphs: “Fifth: Detect through audits and performance evaluations

evidence of corruption, fraud, waste, abuse and inefficiency in matters related to

the receipt, disbursement, and use of public money.

Sixth: Investigate and report on matters relating to the efficient disbursement and

use of public funds as formally requested by the Coalition Provisional Authority,

the Iraqi Governing Council or any successor body vested with national legislative

authority.

Seventh: Refer all allegations or evidence of corruption, fraud, waste, abuse or

inefficiency in the disbursement and use of public funds to the Inspector General

of the relevant ministry or, where appropriate, directly to the Commission on

Public Integrity.

Eighth: Prescribe regulations and procedures for carrying out its duties as the

supreme audit institution of Iraq.”

5) Article 3 of the Board of Supreme Audit Law is amended to read as follows:

“First: The Board shall annually prepare and publish a plan (the “Annual Plan”)

for fulfilling its mission as the supreme audit institution of Iraq. The Annual Plan

shall describe and comment on (a) all anticipated audits and performance

evaluations to be undertaken in the coming year; ( anticipated areas of

cooperation with the Commission on Public Integrity and Inspectors General of

individual ministries; and © any other matter deemed by the Board to be

necessary to the achievement of transparent, accountable, and efficient

government in Iraq.

Second: The Board shall annually prepare and publish a report (the “Annual

Report”) that discusses in detail the audits and performance evaluations

undertaken over the previous twelve months. The Annual Report shall include a

statement of audits, evaluations, and related work initiated by the Board. It shall

also include a statement of audits, evaluations, and related work initiated upon

CPA/ORD/18 April 2004/77

�

formal request by the Commission on Public Integrity, the Coalition Provisional

Authority, the Iraqi Governing Council, or the body vested with the national

legislative authority. The Annual Report shall further assess the overall adequacy

and effectiveness of government measures taken to ensure efficiency and

transparency in the use and disbursement of public funds in Iraq, and include any

legislative or other proposals determined by the Board to be necessary to the

fulfillment of its duties as a supreme audit institution.

Third: The Board shall publish and widely disseminate the final results of its work

product, including all audits and performance evaluations, plans and reports. At

least quarterly, the Board shall publish a list of its recent audit reports and

distribute the list as widely as possible, using the Internet if available. All reports

shall be made available to the press and any interested person upon written

request. This Section does not apply to information classified for national security

purposes by authorized agencies.

Fourth: The Board shall establish procedures for preparing and submitting to the

body vested with national legislative authority the Annual Plan and the Annual

[Markinsa]

This is off the cbi web site I know I e seen it

 

 

Annual Statistical Bulletin 2013

 

That's Page 18.  

 

I've attached the spreadsheet for Page 17: 

Edited January 31, 2015 by Markinsa
Repaired page 17 link

[dontlop]

The spreadsheet isn't coming up

But upon further review of page 17

I see like 540,158 thousand dinar in 1000 notes or is that 540 thousand million wohich would be

540,158,000,000 dinar which would be devided by 1000 because they are 1000 notes

Being ,,, 540,158,000 notes ?

Or 1/2 billion notes just in 1k notes

Hmmm. Let's see how that works out for the 25 k notes

26,691,701 million would be

26,691,701,000,000 devided by 25,000

Yep just over a billion notes

6703211 million 10 k adding 6 zeros is

6,703,211,000,000 devided by 10,000 is

670,321,100 notes

Ya it's starting to look like I'm the dummy it's getting closer and closer to that 4 billion notes total they were talking about

They got just over 2 billion notes just with the 25k the 10k and the 1k notes

We still got the 5k notes the 500 and the 250 and the 50 to go

Thanks markinsa for staying with it

I was definatly confused

My guess is they do got 4 billion notes for a total of around 40 trillion dinar

If I had a calculator with that many decimal places I'd figure it out exactly but I'm going to trust the cbi did its homework and their web site is correct

[dontlop]

One more thing

The name of this topic

Prove it to me

I think would be a great forum for lots of topics to be discussed and ironed out

With a kind of leaniant tolerance for arguing kinda like the tank where they get away with a little more

[moose 57]

ok

Edited January 31, 2015 by moose 57

[dontlop]

Well if someone is in disagreement one could say I'll meet cha in "prove it to me "

They could start up a topic in the "prove it to me " forum

[Markinsa]

The spreadsheet isn't coming up

 

 

Oops my bad, used the wrong link:

 

Page17.xlsx

 

Page 17 PDF

 

I've also added a "Number of Notes", issued, row.

[dontlop]

Thanks

Add 6 zeros to the number under each denomination then devide it by that denomination and that gives you the amount of notes

Since it's listed in millions of Iqd

On the bottom of the spread sheet it gives the amount of notes for each denomination

Geez

All that for nothin

It shows 3.601 billion notes

Edited January 31, 2015 by dontlop

[Markinsa]

Thanks

Add 6 zeros to the number under each denomination then devide it by that denomination and that gives you the amount of notes

Since it's listed in millions of Iqd

On the bottom of the spread sheet it gives the amount of notes for each denomination

Geez

All that for nothin

 

FYI, the number of notes is my calculation, it could be wrong, but I don't think so.  Total notes is 3.6 Billion.

[dontlop]

Thanks for that

I got the whole thing squared away in my noggin now

[George Hayduke]

These are valid questions and concerns. The thing about currency is one currency is exchanged for another, it is not bought and sold in the literal sense. Therefore say iraq has 40 trillion dinar (just a hypothetical number) in circulation outside the country, the question is how could they afford to "cash in" everyone in the event of a significant revaluation of the dinar? Let's say the cbi sets the rate at 1 to 1. Now people are going to the banks to exchange thier dinar for dollars and the banks send that money to the cbi or keep it in thier foreign currency reserves. For every dinar exchanged for a dollar the bank gets the dinar plus the spread, which is the fee the banks charge for the transaction. So let's say the bank exchanged 1 billion dinar and charged a 2% spread. They traded 1billion dollars for 1 billion dinar plus the 2% spread which amounts to 20 million dollars of value, which means at the end of the day the bank holds a value of currency worth 1billion and 20million dollars. They lose nothing in the exchange, they actually make money. You have to remember that banks don't do these transactions for free, this IS how they make money. It doesn't matter how many dinar are in circulation throughout the world the banks win because at a 2% spread you only get 98 cents of every dollar value. They always get more than they give. I hope that clears it up. Dinar in circulation outside the country is not a concern to the cbi, in fact when other banks hold dinar in thier reserves it helps to shore up the value of the currency. Okay now I need a drink

 Well said - I'll pick up the tab...

[dontlop]

I definatly like the way he put that too

I went back to give him a green thing

[dontlop]

It makes perfect sense as to what happens to foriegn currency when ilts exchanged

It doesn't go directly to the central bank of its origin

The local banks don't usually hold foriegn currency reserves locally but the fed does

Most country's buy and sell their domestic currency every day to maintain stability

And not just a couple bucks worth either

Massive amounts

Theirs about 4 trillion a day moving thru the forex

When your selling your currency to hold down the exchange rate the central bank is trading for another and if things are looking like iraq is going to grow then it's currency woukd be a good one to trade for

Then what ever currency they traded for has an official exchange rate published by its central bank

So what ever that official exchange rate is it multiplied by the amount of currency they got and that amount is added to the central banks assets to borrow from or prop up its own currency

It's hard to get your currency all over the world

But iraq achieved it

Now they got to work out what they will do as far as increase in its value

Hey it's already out there

How much would we of bought if it came out a three dollars in 2003 ?

Zero

So they got us to buy it

Smart move if ya ask me

How much dinar would of normally been in the USA if iraq didn't put it out there like they did

I'd say the same amount as syria has circulating in the usa or jordan

Next to nothing

[dontlop]

The dinar is circulating in other country's right now and holding value

It's bougt and sold in the USA right now and the cbi exchange rate has remained the same

So it's stable

[rulesforrebels]

That's the tough thing about this "investment" nobody can prove definitively either way whether something will happen or won't happen. Heck, even when you present someone with facts people still want to believe what they want to believe.

[JayLay]

That's the tough thing about this "investment" nobody can prove definitively either way whether something will happen or won't happen. Heck, even when you present someone with facts people still want to believe what they want to believe.

I agree RFR. Here's another fact, by stating a fact, doesn't mean it will yield the expected result in the end. That will always be someone's analysis or interpretation but we all know it truly is up in the air.

The more we educate, the better we prepare though.

Just because A squared + B squared = C squared doesn't mean that it's always going to be the textbook answer.... maybe it's a square instead?? Lol

Edited February 3, 2015 by JayLay

[ReinMan]

No I haven't jumped to the dark side. I just have a hard time figuring out how they can even pull a 10 cent rv. I have done a lot of reading and research outside of here, and no I don't mean other dinar sites. I just don't see how they can manage to do it given their m0 and m1 numbers and many other financial conditions. Can someone prove to how they can do it? I know they don't have to do it, but just show me how it can be done.

 

 

Supposedly there are "oil credits" that are being wheeled and dealed  in an international shell game, but your argument is what supports the LOPsters - those who believe that there will be a REDENOMINATION --- where the current 000 notes will be traded in but still have the spending power as a basic note.

25K note = 25 dinars, and new currency issued. AKA the Turkish Model.