Central Bank confirms to possess large reserves of hard currency to meet demand Date: Sunday 29-01-2012 01: 13 pm

[lotsofdinar]

Iraq reserves 60ish billion and 30 million population

USA reserves 146ish billion and 300 million population

Makes you go hmmmmmmmm. "

The difference is that the US dollar is not pegged, it's value is determined on world markets. It is worth what the markets say it is worth. Iraq's is worth only what they can back up with their reserves.

[leesburg]

List of countries by foreign-exchange reserves

http://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves

[HisHands]

JMW-to make a point that there will not be a RV because it has never been done before really holds no water. I think there are plenty of events in History, that had we been told it would happen, we would not have believed it would come about. The bombing of Pearl Harbor, the assasination of Lincoln and Kennedy, the attacks of 911. Ask those people from 1000 years ago if they would believe we would put a man on the moon, have cell phones and computers. Just because it has never happened in the past, IMHO has nothing to do with the fact that it is possible. I constantly am amazed that people who seem to have no belief in this investment want to hover around and try to discourage those of us who believe in it.

[JWJW11]

Iraq reserves 60ish billion and 30 million population

USA reserves 146ish billion and 300 million population

Makes you go hmmmmmmmm. "

The difference is that the US dollar is not pegged, it's value is determined on world markets. It is worth what the markets say it is worth. Iraq's is worth only what they can back up with their reserves.

What you really have to consider is.....yes the US has 146ish billion BUT reserves??? Really??? The US has over 15 TRILLION in debt!!!

Thats like saying Im a millionaire cause I got 2 mill in the bank.....but 20 million in debt.....Im soon to be broke in this scenario.....IRAQS wealth isnt even comparable.....so much debt has been forgive and trillions are flowing in PLUS they claim to have 60 billion in reserves.

[rockhound60]

http://dinarvets.com/forums/index.php?/topic/102596-central-bank-the-foreign-reserves-of-the-bank-is-able-to-cope-with-the-growing-phenomenon-of-demand-for-foreign-currency/page__p__832264__fromsearch__1entry832264

[leesburg]

What you really have to consider is.....yes the US has 146ish billion BUT reserves??? Really??? The US has over 15 TRILLION in debt!!!

Thats like saying Im a millionaire cause I got 2 mill in the bank.....but 20 million in debt.....Im soon to be broke in this scenario.....IRAQS wealth isnt even comparable.....so much debt has been forgive and trillions are flowing in PLUS they claim to have 60 billion in reserves.

the us govt has a 15 trillion debt ..most of that domestic ..and most of it being treasury bonds that people buy as an investment .....the us assets far exceed that debt ....our 14 trillion a year in gdp ..times 10 years equals 140 trillion dollars and our gdp is expected to jump to 18 trillion by 2016....we will see on that but .. the govt assetts were at 42 trillion 10 years ago .. the private sectors assets were more like triple that..we are not broke .. we have loans ...out .. my neighbor has a loan for 160 thousand dollars .. he makes around 50 grand a year .. hes not broke .. hes got bills to pay ... including car payments food expenses. utilities taxes ect. .. i dont see him losing confidense in himself .. hes actually proud of his accomplishments ..all the debt talk is mostly political....how many polititions have talkked about reducing our debts?.. they only talk about reducing the amount of increase the govt adds each year .. only congress spends money in our govt .. and gingrich is the only person in my lifetime that actually balanced our budget and payed down our debt .. only briefly ..because surpluses by our govt is not a good thing .. money must be circulated ... not stacked up ... if our govt ever does have another surplus they will do as bush did .. give it back in a tax cut ...they pay their bills .. the us has not defaulted in my lifetime

[Carrello]

sorry..but I think you may be listening to too many dinar gurus...the US can't and won't purchase oil with IQD reserves that are turned in by us...Iraq does have to cover ALL of the currency that they have in circulation...they can't just change their rate they have to be able to support that change...and currently they can't keep their electricity on...but you think they will save the world?...and why do you think EVERYONE is going to revalue?...it's NEVER been done before EVER...but now everyone is going to do it?...really?

never mind.......why bother.

Edited January 29, 2012 by Carrello

[Stryker365]

the us govt has a 15 trillion debt ..most of that domestic ..and most of it being treasury bonds that people buy as an investment .....the us assets far exceed that debt ....our 14 trillion a year in gdp ..times 10 years equals 140 trillion dollars and our gdp is expected to jump to 18 trillion by 2016....we will see on that but .. the govt assetts were at 42 trillion 10 years ago .. the private sectors assets were more like triple that..we are not broke .. we have loans ...out .. my neighbor has a loan for 160 thousand dollars .. he makes around 50 grand a year .. hes not broke .. hes got bills to pay ... including car payments food expenses. utilities taxes ect. .. i dont see him losing confidense in himself .. hes actually proud of his accomplishments ..all the debt talk is mostly political....how many polititions have talkked about reducing our debts?.. they only talk about reducing the amount of increase the govt adds each year .. only congress spends money in our govt .. and gingrich is the only person in my lifetime that actually balanced our budget and payed down our debt .. only briefly ..because surpluses by our govt is not a good thing .. money must be circulated ... not stacked up ... if our govt ever does have another surplus they will do as bush did .. give it back in a tax cut ...they pay their bills .. the us has not defaulted in my lifetime

And the US will not either.......friends of mine keep reading this crap about the USD falling to the point of collapse, now that's conspiracy theory IMO. They call me all concerned and asking me my thoughts and what we are going to do, yes I believe there is a bigger solution then Iraq's RV that will take place but don't believe everything that's out there. One of these friends sent me a video to watch and a few minutes into it I saw their agenda, they were selling their videos of how to avoid the USD collapse,......believe half of what you read and still suspect the other half....

Now if the EU were to collapse it would be another story all together and we may have something to worry about. It is someone selling gold or some type of agenda that talks this way.

Thanks for what you have brought here today, you make some valid points..

[zigmeister]

sorry..but I think you may be listening to too many dinar gurus...the US can't and won't purchase oil with IQD reserves that are turned in by us...Iraq does have to cover ALL of the currency that they have in circulation...they can't just change their rate they have to be able to support that change...and currently they can't keep their electricity on...but you think they will save the world?...and why do you think EVERYONE is going to revalue?...it's NEVER been done before EVER...but now everyone is going to do it?...really?

Never say never.....but wait what do you care you sold your dinar? In the end the guy you sold your dinar to may end up being the happiest sucker ever born!

And another thing, From American Contractors site who watched and listened to the interview with Shabbibi and Selah back in June or July he was surprised when Selah stated;

One thing significant I found in the interview is that the CBI Advisor Saleh mentioned that Iraq would be selling oil and having the oil be paid for in Iraqi dinar. Meaning that Iraq dinar will be a reserve currency for other countries.

This will be all for now as I will be posting more later. As always, thank you for being a loyal reader and joining the another site mailing list.

[leesburg]

sorry..but I think you may be listening to too many dinar gurus...the US can't and won't purchase oil with IQD reserves that are turned in by us...Iraq does have to cover ALL of the currency that they have in circulation...they can't just change their rate they have to be able to support that change...and currently they can't keep their electricity on...but you think they will save the world?...and why do you think EVERYONE is going to revalue?...it's NEVER been done before EVER...but now everyone is going to do it?...really?

they may not buy oil with it ..but that would be their choice .. world trade is a whole different ball game ..if it revalues and becomes a world tradable currency and once the us has the dinar in their treasury .. they can buy anything they want with it .. they can go to china and buy textiles ...or what ever they choose .. they can go to uae ..and buy gold ..it will be a tradable currency to be used for what ever purchase they choose .. to say they wont be buying any oil ..would be rediculous

[Carrello]

One thing I have been watching is, how Iraq will manage 45% of their foreign currency reserve being the Euro. I thought it was also interesting that they just paid kuwait over 700,000 or 1B USD in Euro. I am not a Guru, but I believe the amount of Euro the CBI hold may be a determining factor for the value of the IQD and the timing of the RV. If the Euro tanks would that not affect 45% of their foreign currency reserves? Now, I have not seen recent Data (2012) on what percentage of Foreign currency reserve is actual Euro, but in September 45% was Euro.JMO

............and perhaps that is what China is waiting on.

[wildthing]

If Iraq is trying to make friends with kuwait then why wouldnt Iraq want to be compatible with money . it would seem Iraq would try to match close currency to their neighboring countries

[goldengoose]

If Iraq is trying to make friends with kuwait then why wouldnt Iraq want to be compatible with money . it would seem Iraq would try to match close currency to their neighboring countries

'Wildthing',

Good morning and +10 for that one!!

Thank you,

GG

[JWJW11]

the us govt has a 15 trillion debt ..most of that domestic ..and most of it being treasury bonds that people buy as an investment .....the us assets far exceed that debt ....our 14 trillion a year in gdp ..times 10 years equals 140 trillion dollars and our gdp is expected to jump to 18 trillion by 2016....we will see on that but .. the govt assetts were at 42 trillion 10 years ago .. the private sectors assets were more like triple that..we are not broke .. we have loans ...out .. my neighbor has a loan for 160 thousand dollars .. he makes around 50 grand a year .. hes not broke .. hes got bills to pay ... including car payments food expenses. utilities taxes ect. .. i dont see him losing confidense in himself .. hes actually proud of his accomplishments ..all the debt talk is mostly political....how many polititions have talkked about reducing our debts?.. they only talk about reducing the amount of increase the govt adds each year .. only congress spends money in our govt .. and gingrich is the only person in my lifetime that actually balanced our budget and payed down our debt .. only briefly ..because surpluses by our govt is not a good thing .. money must be circulated ... not stacked up ... if our govt ever does have another surplus they will do as bush did .. give it back in a tax cut ...they pay their bills .. the us has not defaulted in my lifetime

Agreed but keep in mind the S&P did downgrade the US last year

they may not buy oil with it ..but that would be their choice .. world trade is a whole different ball game ..if it revalues and becomes a world tradable currency and once the us has the dinar in their treasury .. they can buy anything they want with it .. they can go to china and buy textiles ...or what ever they choose .. they can go to uae ..and buy gold ..it will be a tradable currency to be used for what ever purchase they choose .. to say they wont be buying any oil ..would be rediculous

There was an article out a couple of weeks ago that described just that....but the short memories around here forget about that......just like when the question is asked...."whats the hold up"......its simple.....HCL AND CHAP 7.....thats it

[splicer09]

sorry..but I think you may be listening to too many dinar gurus...the US can't and won't purchase oil with IQD reserves that are turned in by us...Iraq does have to cover ALL of the currency that they have in circulation...they can't just change their rate they have to be able to support that change...and currently they can't keep their electricity on...but you think they will save the world?...and why do you think EVERYONE is going to revalue?...it's NEVER been done before EVER...but now everyone is going to do it?...really?

Yes iraq can't keep there electric on. That has absolutely nothing to do with a change in rate. Nobody in this discussion claims Iraq will save the world. Nobody said everybody was going to revalue in this discussion. However there is a great imbalance in global trade and it does impact how and who countries trade with. There have been efforts and countries are currently discussing measures to balance currencies in an effort to balance trade and the global economy. Now I said countries that doesn't mean all of them. Certainly China has manipulated their currency for a long time to gain an edge in the global market. They may come around but who knows. Oh and why can't the US use foriegn reserves to purchase oil or any other goods. They can and will. Lastly this is a very intelegent discussion which tells me these debating minds don't listen to the gurus, they research, open their minds to possibilties unexplored, and use a lot of common sense and logic to explore a very broad and global event. See you are like many who feel Iraqs current economic situation will never change. " oh the are such a poor country they can't even keep there electric on". Why is that? WAR! Decades of trade restrictions. All because the US went in and help 5the first middle east country become a democracy. Why would the US do that. To build future relations with a country of vast wealth. Wars are fought for money. Trade deals and treaties are signed for decades to come. Hasn't history taught you anything. This didn't happen on accident and the US didn't spend trillions on a country that could never repair or benefit them through trade. I could go on and on but maybe now you know why you got those negs. Look at the big picture not the little poor broke Iraq picture.

[splicer09]

Iraq reserves 60ish billion and 30 million population

USA reserves 146ish billion and 300 million population

Makes you go hmmmmmmmm. "

The difference is that the US dollar is not pegged, it's value is determined on world markets. It is worth what the markets say it is worth. Iraq's is worth only what they can back up with their reserves.

Currently that would be true but its fair to assume that after an rv and being an internationally traded currency that would change.

[lotsofdinar]

Splicer, countries whose primary export is oil (90 percent of Iraq's exports) usually have pegged currencies. It makes no sense to float the currency on the international market when all you have to export is oil. An internationally traded currency isn't always a good thing.

[nostradamus]

If Iraq is trying to make friends with kuwait then why wouldnt Iraq want to be compatible with money . it would seem Iraq would try to match close currency to their neighboring countries

I have always felt that the GCC expressing an interest in Iraq becoming a member, would imply that they believe Iraq can meet the requirements to raise the value of their currency to be close enough to their neighbors to move to a common valued currency, which is one of the GCC's expressed long term goals.

'The guidelines on finance encouraged coordination of internal and external investment policies, as well as devising unified monetary regulations and increasing coordination between financial institutions and central banks. Eventually, it is hoped, a unified currency will be created.'

Question remains when? If this is really the plan, common sense would lead one to think that some very knowledgable people in the GCC have seen a competitive potential for the IQD to the point where they decided to invite Iraq to join the party.