Financial: "Iraq is creating the conditions for even the Iraqi dinar against the U.S. dollar

[rockhound60]

Financial: "Iraq is creating the conditions for even the Iraqi dinar against the U.S. dollar

: Thursday, 04/05/2012 20:48

At the time when the central bank that its policy on the level near will work to stabilize the Iraqi dinar exchange rate against the U.S. dollar, for mid-level and near will work to equal the exchange rate of the Iraqi dinar against the dollar, a number of finance confirmed that the implementation is the step in such circumstances taking place in the country things are complex and require a brief period in order that the central bank can be in his ability to equal the Iraqi dinar against the U.S. dollar (Citizen News) The follow up this subject and was the first speaker. Financial expert, Munzer Mohsen said: "that it is very difficult in such complex conditions that are equal Iraqi dinar with the U.S. dollar for the time being at least, the reason for a number of objective reasons is most important that the budget that passed shortly before given a majority for the area Alchglah and not investment, making it difficult the development of the Iraqi economy to diversify its resource-dependent by an estimated 95% on oil exports, and that most of the materials, goods and services imported and non-productive and nationally. He improved ": the problem is the other sensitive to Iraqi oil, which is such a large proportion of the resources of the country is stable prices It is characterized by fluctuations at the global level as he is now at risk of serious and real because of the complexities of the political situation in the region and the risk of transformation into armed conflicts as they are in crisis, the Syrian and the Lebanese south, which relate directly and indirectly, the existing problem between Iran and the Zionist entity, backed by all States Bank and led by the United States and there are threats of increasing direct blow to Iran, which for its part, threatened to close the Strait of Hormuz, which is a port to export our oil major which will negative consequences on the economic situation of Iraq and thus the price of the Iraqi dinar. and resulted in improved in his interview with (Citizen News) ": he finds that the expectation of excessive optimism that was expressed by a senior officials of the Central Bank of Iraq on the equal rate of the dinar with the dollar but in spite of all that I is hyperbolic pessimistic because the scenario that is analyzed at the highest levels of decision-making at the regional level and international level adjustable or complete change because customary to crises when complicated there are opportunities to resolve them through informal meetings and secret negotiations!, and where there is many concessions on the part of one of the parties due to internal or external pressure versus specific guarantees and it is not predictable Bavtradih equal to the dinar and the dollar, at least until the clarity of picture of current reality tense but I would not call Palmtfjr as he put it. For his part, said a member of the Finance Committee and MP Abdul-Hussein al-Yasiri ": that the central bank was able to successfully follow the auction method, who is in the bank to maintain the value of Iraqi dinar. He Yasiri" The Central Bank every day working to buy Iraqi currency and sell the dollar, and this is what leads to the process of balance between the demand curve and supply in relation to the dollar, he said, adding that this curve intersects the price higher the demand for increased prices and the greater the supply the price dropped, and in this way maintains the central bank on the price of the dinar Iraqi and values ​​of the economy in general. The Yasiri ": that the process is equal to the Iraqi dinar against the U.S. dollar depends primarily on core strength and stability of the domestic market as well as political and security stability. explained that the Iraqi dinar is the currency of an important and influential in world markets being covered with cash reserve large of hard currency, which is estimated at (60) billion dollars, and this number is too large due to central bank policy. و . Abizaid and Yasiri in his interview with (Citizen News) "that the gross national product and enhanced by oil revenues, which comes to Iraq, amounting to (300) billion U.S. dollars

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[Mika]

I like it...... Thanks for the post....

[FarmersDaughter]

I have read this 3 times and I still don't know what the heck it says. I think it's good. Are they saying that they are going to start with making the dinar equal to the dollar but it is going to take some time? Very confused as usual.

[magawatt]

It looks like an article written to rouse the Iraqi's against their stuttering government.w

[Elixirbaby]

Create create create create

[1978parker]

things are complex and require a brief period in order that the central bank can be in his ability to equal the Iraqi dinar against the U.S. dollar

I am being optimistic that this says soon the dinar will equal the dollar. Yeah baby!!!

[unirod]

Imagine that! the statement that the 60 Billion dollar reserve is too large because of CBI policy!!!

The article seems to be saying that they want the retoric of action against Iran to quiet down. If Hormuz gets shut down then this would risk the strength of the Dinar. I think these B A S T A R D S are dictating US foreign policy and holding the R/V hostage!!

IMO

Thx,Rockhound!!

[yota691]

Citizen / special / Sarah al-Obeidi it a Opinion Piece that been posted an Moved once tonight already out of the News Column!!

Edited April 6, 2012 by yota691

[Saint]

Great post. Now lets get er done. Go RrrrrrVvvvvv

[skitealwedrop]

things are complex and require a brief period in order that the central bank can be in his ability to equal the Iraqi dinar against the U.S. dollar

I am being optimistic that this says soon the dinar will equal the dollar. Yeah baby!!!

I agree with you. Sounds like a 1 to 1 RV is on the horizon.

Great post!

[rsskelton]

Brief period, coming days, soon.......Crap. Lets wait awhile.

[TheArtistFormallyKnownAs]

Brief period, coming days, soon.......Crap. Lets wait awhile.

You heard the man

[leesburg]

yes ...ya figure the govts budget is 115 trillion dinars for 2012 .. so when they rv dollar for dinar they will have plenty of cash to spend next year 117 trillion dollars or dinars same thing since they are equal in value after rv.... there wont be a lop because iraq deserves to be the richest country in the world because they have 17 trillion dollars worth of oil ..it should take 40 years to extract at the pace there on ....so they should get their money up front ..to spend over and over as it circulates through out iraq ... man they could buy fleets of ships .. air craft .. cargo planes .... ..with that amount of money they could buy the united states china europes entire gnp 3 times over each year ... they could stack everything up several miles high in iraq ..why it could become a giant ware house for everything the entire world ever manufactures ...... unless those dinars delete the zeros and it becomes 100 billion new dinars since the gross national product .. or gnp ... which is another way of saying gdp ... is gnp = 300 billion dollars ..or 300 trillion dinars right now ... like the article says it is

man im confused today i hope ya all forgive me... and i hope especially i didnt mispell a word .. ..that would mean everything i say is to be mocked by the gang of mockers

[TQueezy]

yes ...ya figure the govts budget is 115 trillion dinars for 2012 .. so when they rv dollar for dinar they will have plenty of cash to spend next year 117 trillion dollars or dinars same thing since they are equal in value after rv.... there wont be a lop because iraq deserves to be the richest country in the world because they have 17 trillion dollars worth of oil ..it should take 40 years to extract at the pace there on ....so they should get their money up front ..to spend over and over as it circulates through out iraq ... man they could buy fleets of ships .. air craft .. cargo planes .... ..with that amount of money they could buy the united states china europes entire gnp 3 times over each year ... they could stack everything up several miles high in iraq ..why it could become a giant ware house for everything the entire world ever manufactures ...... unless those dinars delete the zeros and it becomes 100 billion new dinars since the gross national product .. or gnp ... which is another way of saying gdp ... is gnp = 300 billion dollars ..or 300 trillion dinars right now ... like the article says it is

man im confused today i hope ya all forgive me... and i hope especially i didnt mispell a word .. ..that would mean everything i say is to be mocked by the gang of mockers

You're right. They are magically given 117 trillion dinar at the beginning of their fiscal year, in cash. Parliament and executive leadership just wheel barrow in tons of paper bills right into the offices of their treasury department.

Dude...

It's all electronic, so if the value changes, they can change the amount of bills that equate to that value, if they ever even need to be cashed out. Stop thinking so plainly and logistically. That's not how federal budgets and payments work. It's all done on the books, through computer programs for electronic transactions. If they say they have a budget of 117 trillion, it's more of an estimate given based on the economy of the country, and the value is only represented based on that immediate currency exchange rate. If they change their rate, the value or numbers of the budget change too. Don't be a dolt.

[truthful1]

yes ...ya figure the govts budget is 115 trillion dinars for 2012 .. so when they rv dollar for dinar they will have plenty of cash to spend next year 117 trillion dollars or dinars same thing since they are equal in value after rv.... there wont be a lop because iraq deserves to be the richest country in the world because they have 17 trillion dollars worth of oil ..it should take 40 years to extract at the pace there on ....so they should get their money up front ..to spend over and over as it circulates through out iraq ... man they could buy fleets of ships .. air craft .. cargo planes .... ..with that amount of money they could buy the united states china europes entire gnp 3 times over each year ... they could stack everything up several miles high in iraq ..why it could become a giant ware house for everything the entire world ever manufactures ...... unless those dinars delete the zeros and it becomes 100 billion new dinars since the gross national product .. or gnp ... which is another way of saying gdp ... is gnp = 300 billion dollars ..or 300 trillion dinars right now ... like the article says it is

man im confused today i hope ya all forgive me... and i hope especially i didnt mispell a word .. ..that would mean everything i say is to be mocked by the gang of mockers

A budget of 117 trillion dollars, but only 17 trillion dollars of every drop of oil in iraq. Hows that work??? They dont have enough resources to fund a 117 trillion dollar budget. are you saying iraq is going to get 100 trillion dollars out of thin air, because they claim a dinar is worth a dollar???? that cant happen in any form of economics.

a revaluation depends on inflation. thats the main reason for any rv. if you had a 100 trillion dollars, chasing fewer goods...............you create massive crazy inflation....that all the centralbanks in the world combined couldnt handle. the cbi would have to hang it up and close shop.....they would be useless....beyond any monetary tools capability. the economy would fall on its face and shabbi would look like an idiot

Edited April 6, 2012 by truthful1

[leesburg]

You're right. They are magically given 117 trillion dinar at the beginning of their fiscal year, in cash. Parliament and executive leadership just wheel barrow in tons of paper bills right into the offices of their treasury department.

Dude...

It's all electronic, so if the value changes, they can change the amount of bills that equate to that value, if they ever even need to be cashed out. Stop thinking so plainly and logistically. That's not how federal budgets and payments work. It's all done on the books, through computer programs for electronic transactions. If they say they have a budget of 117 trillion, it's more of an estimate given based on the economy of the country, and the value is only represented based on that immediate currency exchange rate. If they change their rate, the value or numbers of the budget change too. Don't be a dolt.

i agree .. the united states budget is estimated too . they estimate around 3 trillion a year .. for the little bit of stuff we have here .. i dont see any reason why iraqis govt shouldnt estimate their budget at 117 trillion dollars or dinars since they are .. the king of the world now that they just got their arsses kicked and handed to them.. i could see it ..iraq controlling the world economy .. just reading for the last couple years as to how smart this group of people are .. we will all be much better off

[TQueezy]

A budget of 117 trillion dollars, but only 17 trillion dollars of every drop of oil in iraq. Hows that work??? They dont have enough resources to fund a 117 trillion dollar budget. are you saying iraq is going to get 100 trillion dollars out of thin air, because they claim a dinar is worth a dollar???? that cant happen in any form of economics.

a revaluation depends on inflation. thats the main reason for any rv. if you had a 100 trillion dollars, chasing fewer goods...............you create massive crazy inflation....that all the centralbanks in the world combined couldnt handle. the cbi would have to hang it up and close shop.....they would be useless....beyond any monetary tools capability. the economy would fall on its face and shabbi would look like an idiot

It's not 117 trillion dollars...

It's 117 billion dollars. If they revalue 1 to 1, they get 117 billion new dinar worth for a budget. How hard is that to understand? That's not a redenomination, it's just a redefinition of terms at the time. The value of the money backing that budget claim goes up by 1000 times, so the denominated value must drop down from trillion to billion.

Thus if we have a million dinar, it'll be worth a million dollars. Get it? Good.

[truthful1]

i agree .. the united states budget is estimated too . they estimate around 3 trillion a year .. for the little bit of stuff we have here .. i dont see any reason why iraqis govt shouldnt estimate their budget at 117 trillion dollars or dinars since they are .. the king of the world now that they just got their arsses kicked and handed to them.. i could see it ..iraq controlling the world economy .. just reading for the last couple years as to how smart this group of people are .. we will all be much better off

Your talking in a world where economics dont exist.....

the u.s. gdp is around 15 trillion ayear, and we always spend more than we bring in...

[leesburg]

A budget of 117 trillion dollars, but only 17 trillion dollars of every drop of oil in iraq. Hows that work??? They dont have enough resources to fund a 117 trillion dollar budget. are you saying iraq is going to get 100 trillion dollars out of thin air, because they claim a dinar is worth a dollar???? that cant happen in any form of economics.

a revaluation depends on inflation. thats the main reason for any rv. if you had a 100 trillion dollars, chasing fewer goods...............you create massive crazy inflation....that all the centralbanks in the world combined couldnt handle. the cbi would have to hang it up and close shop.....they would be useless....beyond any monetary tools capability. the economy would fall on its face and shabbi would look like an idiot

lol ...lmao.. that was great .. this was really funny to me .. thanks .. seriously .. it did make me laugh.. i agree 100% with what you just said .. thats what was so funny .. i was being stupid on purpose .. to see what kind of response i would get .. .. at least i got one good reply

[truthful1]

It's not 117 trillion dollars...

It's 117 billion dollars. If they revalue 1 to 1, they get 117 billion new dinar worth for a budget. How hard is that to understand? That's not a redenomination, it's just a redefinition of terms at the time. The value of the money backing that budget claim goes up by 1000 times, so the denominated value must drop down from trillion to billion.

Thus if we have a million dinar, it'll be worth a million dollars. Get it? Good.

There budgetis 117 trillion dinar or approx. 100 billion dollars. if you straight rv at a dollar...it be becomes

117 trillion dinar or approx. 100 trillion dollars... whatsso hard to understand about that??

Edited April 6, 2012 by truthful1

[TQueezy]

There budgetis 117 trillion dinar or approx. 100 billion dollars. if you straight rv at a dollar...it be becomes

117 trillion dinar or approx. 100 trillion dollars... whatsso hard to understand about that??

Absolutely wrong.

If their budget is 117 trillion dinar, which is equal to approximately 100 billion dollars, if they RV straight at a dollar, the value of the dinar equals to the dollar, so you have 100 billion DINAR budget because it's worth 100 billion dollars now.

Nothing changes. Their budget doesn't skyrocket up 1000 times in value because the value of their currency did. They still only need that 100 billion dollars worth of that budget towards government spending. Why would they suddenly need 100 trillion dollars to spend? Think about it before you post idiocy...

[truthful1]

lol ...lmao.. that was great .. this was really funny to me .. thanks .. seriously .. it did make me laugh.. i agree 100% with what you just said .. thats what was so funny .. i was being stupid on purpose .. to see what kind of response i would get .. .. at least i got one good reply

It all sounds good until we apply economics..........your not stupid....thats not where i was going. Peace

Absolutely wrong.

If their budget is 117 trillion dinar, which is equal to approximately 100 billion dollars, if they RV straight at a dollar, the value of the dinar equals to the dollar, so you have 100 billion DINAR budget because it's worth 100 billion dollars now.

Nothing changes. Their budget doesn't skyrocket up 1000 times in value because the value of their currency did. They still only need that 100 billion dollars worth of that budget towards government spending. Why would they suddenly need 100 trillion dollars to spend? Think about it before you post idiocy...

thanks for your utter rudeness. of course the budget doesnt change..... i was posting in response to the way he posted. Thats not the point i was making.

idiocy.....wheres all the outrage from the people claiming civility. if you want to join the conversation. lets do. but we didnt have a conversation. your making assumptions without even having a conversation. thanks for coming to a conclusion with even getting to that point in a conversation. maybe invite me before you ase conclusions of a conversation that was never had.

Edited April 6, 2012 by truthful1

[TQueezy]

It all sounds good until we apply economics..........your not stupid....thats not where i was going. Peace

thanks for your utter rudeness. of course the budget doesnt change..... i was posting in response to the way he posted. Thats not the point i was making.

idiocy.....wheres all the outrage from the people claiming civility. if you want to join the conversation. lets do. but we didnt have a conversation. your making assumptions without even having a conversation. thanks for coming to a conclusion with even getting to that point in a conversation. maybe invite me before you ase conclusions of a conversation that was never had.

I'm sorry for coming off rude, but you continued to post in a manner of seeming joking but with a rude tone to it.

You know as well as I do that you were walking around the issue of the budget value. You know it doesn't change to 100 trillion dollars in the event of a 1 to 1 RV. That's all I was saying, and you're talking like we're being ignorant because we're not applying "economics" to the situation. Well, that IS economics, sir. That's how a 100,000% appreciation in value would work.

[truthful1]

I was speaking of the 100 trillion dollars he was referring to spend next year......and i brought the topic of inflation into it.

maybe ask for clarification or ask a question. i can respond and converse. starting off with idiocy, isnt a way to open communication between people. In factyour closing conversation and doors. Lets see how far that attitude takes you around here.

I'm sorry for coming off rude, but you continued to post in a manner of seeming joking but with a rude tone to it.

You know as well as I do that you were walking around the issue of the budget value. You know it doesn't change to 100 trillion dollars in the event of a 1 to 1 RV. That's all I was saying, and you're talking like we're being ignorant because we're not applying "economics" to the situation. Well, that IS economics, sir. That's how a 100,000% appreciation in value would work.

Yes...we were. i was responding to the 100trillion that would be created out of thin air and the inflationary presense which makes it improbable.

the budget is listed in dollars and dinar. you are absolutely correct, if it rvs or dvs the budget will stillbe 100 billion dollars. no disputes about it.

Edited April 6, 2012 by truthful1

[TQueezy]

I was speaking of the 100 trillion dollars he was referring to spend next year......and i brought the topic of inflation into it.

maybe ask for clarification or ask a question. i can respond and converse. starting off with idiocy, isnt a way to open communication between people. In factyour closing conversation and doors. Lets see how far that attitude takes you around here.

Yes...we were. i was responding to the 100trillion that would be created out of thin air.

the budget is listed in dollars and dinar. you are absolutely correct, if it rvs or dvs the budget will stillbe 100 billion dollars. no disputes about it

Thank you for clarifying that you knew what the real situation was. I'm sorry I didn't pick up on your joking manner of your response to his post. It's all leesburg's fault then... for making us get off to a bad start.

But your'e right, there's no reason for me to say you were an idiot. In fact, that only make me an idiot... I was just frustrated, because you usually have a good intellectual and solid alternative stance to the "Go RVer" crowd that I like to read, no matter how painful it may be to my millionaire-hopeful mentality.

But anyway... yes, the budget is not listed in dollars, so saying that 117 trillion CURRENT dinars will become 117 trillion new dinars equal to 100 trillion dollars is ludicrous. It's just a simple adjustment of the terms used. 117 trillion current dinars = 100 billion us dollars, so after a 1 to 1 RV, it would be a NEW 100 billion dinars still equal to 100 billion dollars.

Leesburg... I hope you understood that... was your original response post to the OP more of a joke on your part? Please say yes...

Edited April 6, 2012 by TQueezy