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Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries


yota691
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21 minutes ago, Laid Back said:

Great news.!!!

 

40 trillion dinar in circulation equal $33.6 billion dollars

Foreign currency reserves $55.7 billion dollars 

$55.7 / $33.6 = $1.65 per dinar.

 

Go CBI 

Go foreign currency reserves

Go RV

Go Real market value 

 

Thanks for the master yota.!

I have 8 million dinar which is part of the 40 trillion in circulation.  So you're saying my dinar is worth $6,700.00 US dollars .  Take $6,700.00 X $1.65 and that is my return?  I'm agreeing that the 40 trillion is still in circulation but it hasn't disappeared when you convert it to US dollars  There is still $40 trillion in physical currency out there.  Are you saying they will with draw dinar until there is only $33.6 billion left? Iif so, then they will be asking for ours.  Or are you saying they will ask for the dinar in country first,to reduce the amount in circulation,  revalue, and  those of us out side the country are good to go?

 

Not arguing, just asking for clarification. 

 

Thank you.

 

 

 

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4 minutes ago, cranman said:

I have 8 million dinar which is part of the 40 trillion in circulation.  So you're saying my dinar is worth $6,700.00 US dollars .  Take $6,700.00 X $1.65 and that is my return?  I'm agreeing that the 40 trillion is still in circulation but it hasn't disappeared when you convert it to US dollars  There is still $40 trillion in physical currency out there.  Are you saying they will with draw dinar until there is only $33.6 billion left? Iif so, then they will be asking for ours.  Or are you saying they will ask for the dinar in country first,to reduce the amount in circulation,  revalue, and  those of us out side the country are good to go?

 

Not arguing, just asking for clarification. 

 

Thank you.

 

 

 

 

Nobody can answer any of your questions. 

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08-07-2018 11:41 AM
image.php?token=c4a3d50bfe8f0e4b2df551719ececb00&size=
 


 

 

The Central Bank of Iraq announced on Sunday the rise of foreign exchange reserves during the month of June to 55.7 billion dollars. 

A source in the Central Bank of Iraq said in a press statement that 'the reserves of the central bank rose during the month of June to 55.7 billion dollars'. 

The source, who asked not to be named, said that 'the rise in foreign currency reserves is due to successful management and better investment for him.' He pointed out that 'Iraq is one of the countries that fully secured their reserves of foreign currency to cover demand by more than 100% of the dollar'.

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37 minutes ago, yota691 said:
08-07-2018 11:41 AM
image.php?token=c4a3d50bfe8f0e4b2df551719ececb00&size=
 


 

 

The Central Bank of Iraq announced on Sunday the rise of foreign exchange reserves during the month of June to 55.7 billion dollars. 

A source in the Central Bank of Iraq said in a press statement that 'the reserves of the central bank rose during the month of June to 55.7 billion dollars'. 

The source, who asked not to be named, said that 'the rise in foreign currency reserves is due to successful management and better investment for him.' He pointed out that 'Iraq is one of the countries that fully secured their reserves of foreign currency to cover demand by more than 100% of the dollar'.

 

Bump again! 👍

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7 hours ago, Jaygo said:

 

Nobody can answer any of your questions. 

That's the scary part.  I've been in this for 14 years and have been on number of different sites, as I'm sure others have, with a ton of information and no one has any idea how this is going to happen.  You would think with all the articles we have read and all the discussions people have had you would think we would at least have an idea.  I'm not saying it won't.  I'm just saying that the CBI and the government of Iraq are extremely good at not giving any clues about when, where or how.

 

This is definitely a one of a kind experience that I'm glad to be a part but never want to do again.    

 

I'm hanging my hopes on the words of president GB when he said "this war will be paid for" 

 

Time for a whiskey.  Neat of course.

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8 hours ago, cranman said:

I have 8 million dinar which is part of the 40 trillion in circulation.  So you're saying my dinar is worth $6,700.00 US dollars .  Take $6,700.00 X $1.65 and that is my return?  I'm agreeing that the 40 trillion is still in circulation but it hasn't disappeared when you convert it to US dollars  There is still $40 trillion in physical currency out there.  Are you saying they will with draw dinar until there is only $33.6 billion left? Iif so, then they will be asking for ours.  Or are you saying they will ask for the dinar in country first,to reduce the amount in circulation,  revalue, and  those of us out side the country are good to go?

 

Not arguing, just asking for clarification. 

 

Thank you.

 

 

 

I would be careful in saying anything that might give your hand away.....

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9 hours ago, cranman said:

I have 8 million dinar which is part of the 40 trillion in circulation.  So you're saying my dinar is worth $6,700.00 US dollars .  Take $6,700.00 X $1.65 and that is my return?  I'm agreeing that the 40 trillion is still in circulation but it hasn't disappeared when you convert it to US dollars  There is still $40 trillion in physical currency out there.  Are you saying they will with draw dinar until there is only $33.6 billion left? Iif so, then they will be asking for ours.  Or are you saying they will ask for the dinar in country first,to reduce the amount in circulation,  revalue, and  those of us out side the country are good to go?

 

Not arguing, just asking for clarification. 

 

Thank you.

 

 

 

 

Yep. The math doesn't add up. Assuming a trillion is 1000 billion and a billion is 1000 million. If you used all of the reserves of 55.7 billion to 'buy back' the 40 trillion, you have one dinar valued at 0.00139 of a cent, which would equate to $1392.5 per million dinar.

But, we know economic activity and a country's resources are some of the keys to valuing currency, the reserves are ... well, simply the reserves. 

A country's debt and GDP and a whole host of other considerations come into play when the currency is international. So, these types of calculations are somewhat two dimensional at best. 

The good news is, hopefully, none of us paid $1392.50 for a million dinars and the future for our speculation brightens daily, based in improving security and the massive resources in Iraq.

Keep in mind, too, that I am no currency expert, but I understand there are great complexities to this investment that I truly do not understand. So, what do I know?

Still in it though and making money in other areas, based upon what I am learning here. So 'cheers!' to y'all for sharing!

Edited by bkeiller
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Central Bank of Iraq announced the rise of foreign currency reserves during the month of June to 55.7 billion dollars

09-07-2018 12:57 PM
Readers
image.php?token=8d4e81a245db8cf547046d97495b57fe&size=
 

Baghdad News -

 

 

The Central Bank of Iraq announced on Monday that the foreign exchange reserves rose during the month of June to 55.7 billion dollars.

 
A central bank source said in a press statement that the reserve of the central bank rose in June to 55.7 billion dollars, adding that the rise in foreign exchange reserves, due to successful management. 

The source, who asked not to be named, said that Iraq is one of the countries that fully secured their reserves of foreign currency to cover demand by more than 100 percent of the dollar.

 

 
 
 
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23 hours ago, cranman said:

I have 8 million dinar which is part of the 40 trillion in circulation.  So you're saying my dinar is worth $6,700.00 US dollars .  Take $6,700.00 X $1.65 and that is my return?  I'm agreeing that the 40 trillion is still in circulation but it hasn't disappeared when you convert it to US dollars  There is still $40 trillion in physical currency out there.  Are you saying they will with draw dinar until there is only $33.6 billion left? Iif so, then they will be asking for ours.  Or are you saying they will ask for the dinar in country first,to reduce the amount in circulation,  revalue, and  those of us out side the country are good to go?

 

Not arguing, just asking for clarification. 

 

Thank you.

 

 

 

What I'm saying is that with the increase in the reserves to $55.7 billion the CBI can cover all the money in circulation 165%

The math was only to show the CBI have enough reserve to cover all the monetary mass.

Go CBI

Go new monetary policy 

Go RV

Go real market value 

 

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You converted $40 trillion dinar to dollars.  You used dollars in reserves do the math.  The math is correct.  But you still have $40 trillion dinar out in circulation.  So your math, although correct, doesn't make any sense.  At a $1.65  US dollar per dinar X $40 trillion dinar in circulation=  $66 trillion dollars.  The only way that this would work is if they reduced the notes in circulation to $20 billion and then revalued the currency.  Or conducted the trade in of notes.  For example the $ 25,000 dinar note is exchanged for the $25 dinar note for a period of time. Currently a $25,000 note is worth about $21.00 US dollars.  If they exchanged the note to $25.00  and then revalued with your $1.65 figure thew new value would be $34.65 dollars.  So the Iraqis would still have more purchasing power and a strong currency.  If we are not part of that exchange period to reduce the note count then we make out. If we are part of the exchange  then we make out like the Iraqis.   

 

Just thinking  out loud here.  I love a good discussion.

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On 7/8/2018 at 10:42 AM, Laid Back said:

Great news.!!!

 

40 trillion dinar in circulation equal $33.6 billion dollars

Foreign currency reserves $55.7 billion dollars 

$55.7 / $33.6 = $1.65 per dinar.

 

Go CBI 

Go foreign currency reserves

Go RV

Go Real market value 

 

Thanks for the master yota.!

I like your enthusiasm in your posts, it's nice to see on a monday.  Here's to a brighter future. GO RV

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4 hours ago, cranman said:

You converted $40 trillion dinar to dollars.  You used dollars in reserves do the math.  The math is correct.  But you still have $40 trillion dinar out in circulation.  So your math, although correct, doesn't make any sense.  At a $1.65  US dollar per dinar X $40 trillion dinar in circulation=  $66 trillion dollars.  The only way that this would work is if they reduced the notes in circulation to $20 billion and then revalued the currency.  Or conducted the trade in of notes.  For example the $ 25,000 dinar note is exchanged for the $25 dinar note for a period of time. Currently a $25,000 note is worth about $21.00 US dollars.  If they exchanged the note to $25.00  and then revalued with your $1.65 figure thew new value would be $34.65 dollars.  So the Iraqis would still have more purchasing power and a strong currency.  If we are not part of that exchange period to reduce the note count then we make out. If we are part of the exchange  then we make out like the Iraqis.   

 

Just thinking  out loud here.  I love a good discussion.

My friend cranman,

This is all hypothetical, we could be here all day crushing number but the truth is that we don't know if they really have 40 trillion 

dinars in circulation or $55.7 billion dollars in reserves.

We know the have a big liquidity problem...... Why? ...... If they have 40 trillion in circulation 

We know they have been reducing the note count for years. From 4 billion notes to a final goal of 1 billion notes. I don't know how

close they're from the 1 billion notes goal.

We know they can cover all dinar in circulation by 160% or more.

We know they are ten times richest than Kuwait by the World bank

I'm a big believer of $1:1 RV ... Why?

- real purchasing power

- easiest transition for the Iraqi citizen

- easiest way to Dedollarize the country

- It will be cheaper to rebuild the country

 

We are all here speculating with dinar.

 

Thanks for your input.

 

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On 7/9/2018 at 1:14 AM, cranman said:

I have 8 million dinar which is part of the 40 trillion in circulation.  So you're saying my dinar is worth $6,700.00 US dollars .  Take $6,700.00 X $1.65 and that is my return?  I'm agreeing that the 40 trillion is still in circulation but it hasn't disappeared when you convert it to US dollars  There is still $40 trillion in physical currency out there.  Are you saying they will with draw dinar until there is only $33.6 billion left? Iif so, then they will be asking for ours.  Or are you saying they will ask for the dinar in country first,to reduce the amount in circulation,  revalue, and  those of us out side the country are good to go?

 

Not arguing, just asking for clarification. 

 

Thank you.

 

 

 

 

hahhha .. 3 times that master yota posting  this article in here. 

 

My opinion was iraq will go international to reduce the amount in circulation 

 

notice on this words

 

The source, who asked not to be named, said that Iraq is one of the countries that fully secured their reserves of foreign currency to cover demand by more than 100 percent of the dollar.

 

Iraq is one of the countries

fully secured their reserves of foreign currency

cover demand

dollar.”

 

 

 

 

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On 7/8/2018 at 12:42 PM, Laid Back said:

Great news.!!!

 

40 trillion dinar in circulation equal $33.6 billion dollars

Foreign currency reserves $55.7 billion dollars 

$55.7 / $33.6 = $1.65 per dinar.

 

Go CBI 

Go foreign currency reserves

Go RV

Go Real market value 

 

Thanks for the master yota.!

Love your math. :twothumbs:

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2 hours ago, Laid Back said:

My friend cranman,

This is all hypothetical, we could be here all day crushing number but the truth is that we don't know if they really have 40 trillion 

dinars in circulation or $55.7 billion dollars in reserves.

We know the have a big liquidity problem...... Why? ...... If they have 40 trillion in circulation 

We know they have been reducing the note count for years. From 4 billion notes to a final goal of 1 billion notes. I don't know how

close they're from the 1 billion notes goal.

We know they can cover all dinar in circulation by 160% or more.

We know they are ten times richest than Kuwait by the World bank

I'm a big believer of $1:1 RV ... Why?

- real purchasing power

- easiest transition for the Iraqi citizen

- easiest way to Dedollarize the country

- It will be cheaper to rebuild the country

 

We are all here speculating with dinar.

 

Thanks for your input.

 

Fair enough.  Thanks for responding in a respectful manner.

 

Have a great evening!

Edited by cranman
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1 hour ago, normala rashid said:

 

hahhha .. 3 times that master yota posting  this article in here. 

 

My opinion was iraq will go international to reduce the amount in circulation 

 

notice on this words

 

The source, who asked not to be named, said that Iraq is one of the countries that fully secured their reserves of foreign currency to cover demand by more than 100 percent of the dollar.

 

Iraq is one of the countries

fully secured their reserves of foreign currency

cover demand

dollar.”

 

 

 

 

I'm not really sure what that means.  Secured foreign currency reserves to cover the demand for dollars.  Please explain how that relates to anything related to an RV.  They are trying to get rid of the dollar from being used and get citizens to use the dinar.  

 

I need an education. LOL

 

 

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2 hours ago, Laid Back said:

My friend cranman,

This is all hypothetical, we could be here all day crushing number but the truth is that we don't know if they really have 40 trillion 

dinars in circulation or $55.7 billion dollars in reserves.

We know the have a big liquidity problem...... Why? ...... If they have 40 trillion in circulation 

We know they have been reducing the note count for years. From 4 billion notes to a final goal of 1 billion notes. I don't know how

close they're from the 1 billion notes goal.

We know they can cover all dinar in circulation by 160% or more.

We know they are ten times richest than Kuwait by the World bank

I'm a big believer of $1:1 RV ... Why?

- real purchasing power

- easiest transition for the Iraqi citizen

- easiest way to Dedollarize the country

- It will be cheaper to rebuild the country

 

We are all here speculating with dinar.

 

Thanks for your input.

 

Yes, we are here speculating Dinar which at the moment has stalemated into nothing but talk once again. And reading of members extremely hyped and ready to pop the champagne corks ... sorry I cannot join the enthusiasm because here we are two months(almost) since the election and no seated Government and if past history of them trying to determine the Ministers Portfolios that could be months away. This week takes us into a month of being within the 2% compliance and still they procrastinate.  As said previously we and sit here and read of number crunching values all day every day but the way things are progressing that exercise will still be a project this time next year. Apologies in advance for the rant.

Edited by NoviceInvestor
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24 minutes ago, NoviceInvestor said:

Yes, we are here speculating Dinar which at the moment has stalemated into nothing but talk once again. And reading of members extremely hyped and ready to pop the champagne corks ... sorry I cannot join the enthusiasm because here we are two months(almost) since the election and no seated Government and if past history of them trying to determine the Ministers Portfolios that could be months away. This week takes us into a month of being within the 2% compliance and still they procrastinate.  As said previously we and sit here and read of number crunching values all day every day but the way things are progressing that exercise will still be a project this time next year. Apologies in advance for the rant.

My feeling has been that Iraq is likely having to answer to a higher power and will not permitted to pull any kind of fiscal trigger until they are given the green light. This may be the IMF, the American government, Rothschild banksters, or all of the above. Whoever it is, I believe Iraq will go onto the international stage at the same time many other economies take a nasty hit, i.e. thru a currency devaluation.

So, even if they were ready to hit the international stage, they might be held back until the tptb's decision to pull the plug. A reset, if it does materialize, is likely to be a nasty wake up call for many people, our neighbours and family members alike. Even if we hit the proverbial jackpot as holders of this colourful currency, we'll have plenty of places to use it for good if there is widespread suffering around us thanks to an economic meltdown in the west. just a thought...

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38 minutes ago, NoviceInvestor said:

Yes, we are here speculating Dinar which at the moment has stalemated into nothing but talk once again. And reading of members extremely hyped and ready to pop the champagne corks ... sorry I cannot join the enthusiasm because here we are two months(almost) since the election and no seated Government and if past history of them trying to determine the Ministers Portfolios that could be months away. This week takes us into a month of being within the 2% compliance and still they procrastinate.  As said previously we and sit here and read of number crunching values all day every day but the way things are progressing that exercise will still be a project this time next year. Apologies in advance for the rant.

You're right my friend.!

- No seated government 

- fighting corruption at all levels

- waiting for important laws

- waiting for art 8 compliance 

- IMF/ SBA 2016-2019

- Iran intervention in Iraq 

 

still not a suitable environment to increase the dinar exchange rate.

 

 

 

 

Edited by Laid Back
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On ‎7‎/‎8‎/‎2018 at 2:09 PM, yota691 said:

He pointed out that 'Iraq is one of the countries that fully secured their reserves of foreign currency to cover demand by more than 100% of the dollar'.

So get on with it already!!! Enough talk people. The clock is a tickin....ticktock.

You can do it Iraq!

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  • yota691 changed the title to Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries

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