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Gold Reserves Increasing for RV

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the answer is "YES!" its part of their reserves and gold is the best thing you can have to back your currency to increase its value.

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I have been out of the loop so long here because of my health, I need to brush up on a few things. My question.......-

Does anyone have a rough idea how much Dinar is in circulation total? When I first signed on many years ago :-) , I remember seeing that Iraq had about 25 trillion in circulation. Given the amount of time that has passed since early 2009 when I first bought into this and now, I would guess that there are trillions of Dinar taken out of circulation with auctions and other methods.

With the Dinar being backed by gold ,the dollar and the finite resources that are underground, it would stand to reason that the Dinar could RV at a higher rate right out of the gate.

I had always thought from the very begining that Iraq could not support a higher RV with over 25 trillion IQD in circulation. So in conclusion, I feel

A higher rate just might be more possible given the above parameters at work. Iraq certainly wants and has the desire to be the most wealthy county in the ME and having the highest value currency even when you consider Kuwatt.

I would like to hear from others. Am I on the mark or way out in left field?

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I have been out of the loop so long here because of my health, I need to brush up on a few things. My question.......-

Does anyone have a rough idea how much Dinar is in circulation total? When I first signed on many years ago :-) , I remember seeing that Iraq had about 25 trillion in circulation. Given the amount of time that has passed since early 2009 when I first bought into this and now, I would guess that there are trillions of Dinar taken out of circulation with auctions and other methods.

With the Dinar being backed by gold ,the dollar and the finite resources that are underground, it would stand to reason that the Dinar could RV at a higher rate right out of the gate.

I had always thought from the very begining that Iraq could not support a higher RV with over 25 trillion IQD in circulation. So in conclusion, I feel

A higher rate just might be more possible given the above parameters at work. Iraq certainly wants and has the desire to be the most wealthy county in the ME and having the highest value currency even when you consider Kuwatt.

I would like to hear from others. Am I on the mark or way out in left field?

Nice to hear that you pulled thru your health issue....that is the best price on earth

At the latest CBI website there is 72.5 trillion IQD in circulation as of Dec 6, 2012. The good sign is that they managed to retire/put away 1 trillion IQD a week since Nov 1st, 2012. That is impressive.

The gold reserve is creeping tho. But it's on the plus side. I think Iraq is on her way to recovery. It will take time. Have to wait and see.

Here is the CBI website FYI. http://www.cbi.iq/documents/key%20financial.xls

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Nice to hear that you pulled thru your health issue....that is the best price on earth

At the latest CBI website there is 72.5 trillion IQD in circulation as of Dec 6, 2012. The good sign is that they managed to retire/put away 1 trillion IQD a week since Nov 1st, 2012. That is impressive.

The gold reserve is creeping tho. But it's on the plus side. I think Iraq is on her way to recovery. It will take time. Have to wait and see.

Here is the CBI website FYI. http://www.cbi.iq/documents/key%20financial.xls

That 72.5 Trillion is the M2, not the currency in circulation. If you look back to 2004 you can see that number fluctuates a bit month to month but it is always higher year to year. As their foreign currency reserves grow they increase the money supply to the extent necessary to maintain equilibrium resulting in a stable exchange rate. They could leave the money supply as it is and just increase the value instead, but the CBI wants stability in the exchange rate.

I have been out of the loop so long here because of my health, I need to brush up on a few things. My question.......-

Does anyone have a rough idea how much Dinar is in circulation total? When I first signed on many years ago :-) , I remember seeing that Iraq had about 25 trillion in circulation. Given the amount of time that has passed since early 2009 when I first bought into this and now, I would guess that there are trillions of Dinar taken out of circulation with auctions and other methods.

With the Dinar being backed by gold ,the dollar and the finite resources that are underground, it would stand to reason that the Dinar could RV at a higher rate right out of the gate.

I had always thought from the very begining that Iraq could not support a higher RV with over 25 trillion IQD in circulation. So in conclusion, I feel

A higher rate just might be more possible given the above parameters at work. Iraq certainly wants and has the desire to be the most wealthy county in the ME and having the highest value currency even when you consider Kuwatt.

I would like to hear from others. Am I on the mark or way out in left field?

I have been unable to access the spreadsheet at the CBI website lately... but last time I checked the CURRENCY IN CIRCULATION number was around 32 Trillion and if you add the CASH IN BANK VAULTS number that brought the hard currency total to around 36 - 37 Trillion.

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32150( ounces of gold per ton) x 31 tons equals 996,650 ounces. Multiply by $1650 usd per oz. equals about $1.6 Billion. My math right?

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32150( ounces of gold per ton) x 31 tons equals 996,650 ounces. Multiply by $1650 usd per oz. equals about $1.6 Billion. My math right?

Gold is measured in troy ounces....

12 TROY ounces per pound

24000 troy ounces per ton

24000 troy ounces per ton x 31 tons = 744,000 total ounces

744,000 total ounces x $1650 =$1.2276 Billion

:)/>

Edited by fib1618

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This is what I got..

32150

Troy Ounce:

The traditional unit of weight for precious metals and gems.

1 troy ounce = 480 grains

1 troy ounce = 24 scruples

1 troy ounce = 20 pennyweights (North American jewelery trade)

1 troy ounce = 1.097 ordinary ounce

1 troy ounce = 8 drams

1 troy ounce = 31.1034768 grams.

1 troy ounce = 120 carats

1 troy ounce = 155.52 metric carats (diamonds / precious stones).

3.75 troy ounces = 10 tolas (Indian sub-continent)

6.02 troy ounces = 5 taels (Hong Kong)

12 troy ounce=1 troy pound

14.583 troy ounce =16 avoirdupois ounce (1Pound)

32.15 troy ounces = 1 kilogramme (Kilo)

32,150 troy ounces = 1 metric ton (1,000 kilos)

1000 troy ounces = 31.1 kilograms

http://www.goldcalculator.com/index_files/page0033.htm

But in any event, using your number of $1.2 Billion USD value, and assume 40 Trillion IQD (notice I said assume) at and exchange rate of 1170 to the dollar ($34.1Billion usd). Does that not put the IQD value in gold ALONE at 3.5 cents. Please check my math and logic. I am not saying anything about an RV rate, just trying to guesstimate gold reserve per dinar.

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Blaineage is correct at the $1650 price not fib1618

Fib try working it out this way

31.1grams per ounce

1 kilo = 1000 grams so 1000/31.1 = 32.15 ounces per kilo

1 ton = 1000 kilos therefore 32,150 ounces also equal 1 ton

31 ton = 32,150 x 31 = 996,650 ounces

@ $1650 per ounce that equals $1,644,472,500.00 (1.64 Bn)

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Blaineage is correct at the $1650 price not fib1618

Fib try working it out this way

31.1grams per ounce

1 kilo = 1000 grams so 1000/31.1 = 32.15 ounces per kilo

1 ton = 1000 kilos therefore 32,150 ounces also equal 1 ton

31 ton = 32,150 x 31 = 996,650 ounces

@ $1650 per ounce that equals $1,644,472,500.00 (1.64 Bn)

And if that is true I get 4.6 cents of gold per dinar. Please forgive the rounding errors, and again, just trying to get an approximate value of dollar to dinar.

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Blaineage is correct at the $1650 price not fib1618

Fib try working it out this way

31.1grams per ounce

1 kilo = 1000 grams so 1000/31.1 = 32.15 ounces per kilo

1 ton = 1000 kilos therefore 32,150 ounces also equal 1 ton

31 ton = 32,150 x 31 = 996,650 ounces

@ $1650 per ounce that equals $1,644,472,500.00 (1.64 Bn)

OOPS, you're right! :)

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My math shows that they would need $1.84 Trillion in Gold to give 40 Trillion dinar a 4.6 cent value (assuming $1650 ounce gold.)

40 trillion x 4.6 U.S. cents = 1.84 trillion U.S. dollars

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It's 1.8 billion usd

1,840,000,000

But our numbering systems do differ

British - 1000000000000000000

American - 1000000000000

The difference - Americans count a billion as 1000 million. The British count a billion as a million million. Hence the difference in numbers.

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I am guessing I am confused and wrong. if Iraq has 40 Trillion of something (widgets/dinars/whatever) and it is worth 34 Billion USD, which is backed by 1.6 Billion USD in Gold, is the 40 Trillion of something worth 4.6 cents? My head is spinnging.

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It's 1.8 billion usd

1,840,000,000

But our numbering systems do differ

British - 1000000000000000000

American - 1000000000000

The difference - Americans count a billion as 1000 million. The British count a billion as a million million. Hence the difference in numbers.

40 trillion x $1 = $40 trillion

40 trillion x $.50 = $20 trillion

40 trillion x $.10 = $4 trillion

40 trillion x $.05 = $2 trillion

40 trillion x $.046 = $1.84 trillion

Where am I going wrong here?

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40 trillion x $1 = $40 trillion

40 trillion x $.50 = $20 trillion

40 trillion x $.10 = $4 trillion

40 trillion x $.05 = $2 trillion

40 trillion x $.046 = $1.84 trillion

Where am I going wrong here?

Fib , I'm not sure you are, and I hope you are not seeing me as arguing with you (or anyone else) , just trying to figure this out because it is important , and looking for input. I think where we differ is I convert the 40 Trillion Dinar to market value USD before I value the gold backing value. I'm not sure if I should be doing that or not.

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My math shows that they would need $1.84 Trillion in Gold to give 40 Trillion dinar a 4.6 cent value (assuming $1650 ounce gold.)

40 trillion x 4.6 U.S. cents = 1.84 trillion U.S. dollars

I meant that the 40 trillion dinar would have a 4.6 cent value PER UNIT.

Sorry...I'm managing multiple futures day trades at the moment and i'm having a very hard time focusing on anything else. lol

When u multiply 40 trillion by .046 , ur basically getting 4.6% of it which is 1.8 billion.

U sure about that?

10% of 40 trillion is 4 trillion

5% of 40 trillion is 2 trillion

4.6% of 40 trillion is 1.84 trillion

Or maybe I'm losing my mind. lol

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Fib , I'm not sure you are, and I hope you are not seeing me as arguing with you (or anyone else) , just trying to figure this out because it is important , and looking for input. I think where we differ is I convert the 40 Trillion Dinar to market value USD before I value the gold backing value. I'm not sure if I should be doing that or not.

It's all good, I'm having fun.

Yeah, I see what you're doing. The calculation must contain the total number of units...40 trillion.

I've got to step away for a while.

The trading needs my full attention.

:)

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