Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
jonjon

Government of Iraq recognizes its inability to cancel three zeroes of the dinar

Recommended Posts

Cash outside of banks went from 28 trillion to 30 trillion in 2012 per the CBI website. That's not a decrease, it's an increase. But even if it did decrease the M2 is the important figure because they're backing all of that with their reserves currencies, and the M2 is at 73 trillion.

If it's on the Internet it must be true

Bon Jour

Share this post


Link to post
Share on other sites

Wow! Big brother got on your guys a$$.

DV's No matter what topic is out there or what forum it's in the truth of the matter is this. The truth is always covered in lies,So when the Big event happens just be thankful.

The fact is no Guru or intel hound will ever have news unless its national news first. I feel to many people ride there coat tails and

Care to much about what they think. It's funny.

Share this post


Link to post
Share on other sites

Cash outside of banks went from 28 trillion to 30 trillion in 2012 per the CBI website. That's not a decrease, it's an increase. But even if it did decrease the M2 is the important figure because they're backing all of that with their reserves currencies, and the M2 is at 73 trillion.

That is Keynesian Economics at its best!

The U.S. has a currency supply about equal to Iraq of 3 Trillion and a U.S. M2 circulation which is mostly fractional digital of about 72 Trillion.

Currency supply is what you can hold in your hand and circulation is what they use on computers 'debt based system'.

Iraq's supply on the street is minus 3Trillion and going down fast.

  • Upvote 1

Share this post


Link to post
Share on other sites

That is Keynesian Economics at its best!

The U.S. has a currency supply about equal to Iraq of 3 Trillion and a U.S. M2 circulation which is mostly fractional digital of about 72 Trillion.

Currency supply is what you can hold in your hand and circulation is what they use on computers 'debt based system'.

Iraq's supply on the street is minus 3Trillion and going down fast.

Really?? How did you find this out?

Share this post


Link to post
Share on other sites

Really?? How did you find this out?

I have followed the IQD since 2005, just like many other people.

Don't forget that the modus of a nation state that is to release or what people are call reval, is that they bamboozle with b.s.

and so it is important at least for me to discount alot of the jibber jab for the validated.

For example it is very important to remember that in 2008 Iraq with the oil windfall of that year which was from $140/barrel oil

made about $85 Billion USD. They took part of that money and started a lethal buy-back program at a rate of $1.5 Billion/month

buying IQD off the streets. Mind you this is in Iraq, so the GOI/CBI were reducing the 'supply' within their borders. At that rate if they kept going

they could have bought back all printed IQD including all in the hands of investors within 2 years. Roughly $36 Billion USD worth so

in reality its not all that much play money. Remember, the IQD is presently under an artificial tight monetary control to simply get it

in the hands of the citizens of Iraq and to churn it at auctions.

Well here we are realizing they in earnest removed many 3 zero notes off the street and they are still doing it. Keynesian Economics simply puts

the nation state into a digital debt based system and they simply can let the debt go into infinity if they wanted too ~ this is how these corporate corrupted

Central Bankers Operate. Muslims are dead set against usury, so you find yourself the corruptible ones to work for the central banks and tad-a Keynesian Run Away Debt Economics.

Thats just what is going on in The U.S. as well. So M2 means nothing to me and will mean nothing to the release or amount which is contrary to Austrian Economics or the U.S.

Economic system when we were fiscally healthy. In Keynesian Economics your books are never really balanced because they are backed upon a derivative system of B.S.

But who knows!

  • Upvote 3

Share this post


Link to post
Share on other sites

I have followed the IQD since 2005, just like many other people.

Don't forget that the modus of a nation state that is to release or what people are call reval, is that they bamboozle with b.s.

and so it is important at least for me to discount alot of the jibber jab for the validated.

For example it is very important to remember that in 2008 Iraq with the oil windfall of that year which was from $140/barrel oil

made about $85 Billion USD. They took part of that money and started a lethal buy-back program at a rate of $1.5 Billion/month

buying IQD off the streets. Mind you this is in Iraq, so the GOI/CBI were reducing the 'supply' within their borders. At that rate if they kept going

they could have bought back all printed IQD including all in the hands of investors within 2 years. Roughly $36 Billion USD worth so

in reality its not all that much play money. Remember, the IQD is presently under an artificial tight monetary control to simply get it

in the hands of the citizens of Iraq and to churn it at auctions.

Well here we are realizing they in earnest removed many 3 zero notes off the street and they are still doing it. Keynesian Economics simply puts

the nation state into a digital debt based system and they simply can let the debt go into infinity if they wanted too ~ this is how these corporate corrupted

Central Bankers Operate. Muslims are dead set against usury, so you find yourself the corruptible ones to work for the central banks and tad-a Keynesian Run Away Debt Economics.

Thats just what is going on in The U.S. as well. So M2 means nothing to me and will mean nothing to the release or amount which is contrary to Austrian Economics or the U.S.

Economic system when we were fiscally healthy. In Keynesian Economics your books are never really balanced because they are backed upon a derivative system of B.S.

But who knows!

They started a buy-back program?? blink.gif

What is it? Who do they buy the dinar back from? Explain how that works.....

Edited by keepmwlknfny
  • Upvote 3
  • Downvote 3

Share this post


Link to post
Share on other sites

They started a buy-back program?? blink.gif

What is it? Who do they buy the dinar back from? Explain how that works.....

The article can be read in The New York Times 2008. I'm on

My iphone so I dont have the saved link with me now.

Just google.

  • Upvote 1
  • Downvote 1

Share this post


Link to post
Share on other sites

"For example, when the IQD is released into the International market place, and if we wish to 'exchange' our IQD for USD it will be handled by The Federal Reserve whom I do not trust either. But we are playing their game not ours. We exchange at a local bank and the IQDs are sent to The Fed in New York, from there it is up to The Feds if they wish to hold them or cash them in immediately with Iraq."

Could you provide a link to a legitimate source that states this is true? I've never seen any evidence foreign currency exchange is done through the FED.

Share this post


Link to post
Share on other sites

I don't trust our central bank and it's numbers. Some may call you naive if you do believe everything the Fed tells us.

So there is no way no how I can believe what the central bank and goverenment of a corrupt nation tells me.

Look at the USA , our leaders at all levels of Government decieve us everyday. They are all corruptible men and women.

They all have there own agendas.

"The beauty of the second amendment is that it is not needed till they try to take it away"

Thomas Jefferson

"For example, when the IQD is released into the International market place, and if we wish to 'exchange' our IQD for USD it will be handled by The Federal Reserve whom I do not trust either. But we are playing their game not ours. We exchange at a local bank and the IQDs are sent to The Fed in New York, from there it is up to The Feds if they wish to hold them or cash them in immediately with Iraq."

Could you provide a link to a legitimate source that states this is true? I've never seen any evidence foreign currency exchange is done through the FED.

When the Fed sells JUNK US gov bonds to countries that are not part of the Bretton Woods system

They will accept other currencies and money ( gold )

These days they are happy just to have a buyer but those days are coming to an end fast!

Share this post


Link to post
Share on other sites

The article can be read in The New York Times 2008. I'm on

My iphone so I dont have the saved link with me now.

Just google.

Is this it?

Dollars for Dinars

by John B. Taylor

How shipping tons of U.S. currency to Iraq remade its economy—and was roundly criticized all the same. Good decision, bad press. By John B. Taylor.

In February, the House Committee on Oversight and Government Reform held a hearing that criticized the decision to ship U.S. currency into Iraq just after Saddam Hussein’s government fell. As the committee’s chairman, Henry Waxman (D-California), put it in his opening statement, “Who in their right mind would send 360 tons of cash into a war zone?” His criticism attracted wide attention, feeding antiwar sentiment and even providing material for comedians. But a careful investigation of the facts behind the currency shipment paints a far different picture.

The currency that was shipped into Iraq in the days after the fall of Saddam Hussein’s government was part of a successful financial operation that had been carefully planned months before the invasion. Its aims were to prevent a financial collapse in Iraq, put the financial system on a firm footing, and pave the way for a new Iraqi currency. Contrary to the criticism that such currency shipments were ill advised or poorly monitored, this financial plan was carried out with precision and was a complete success.

The plan, which had two stages, was designed to work in Iraq’s cash economy, in which checks or electronic funds transfers were virtually unknown and shipments of tons of cash were commonplace.

In the first stage, the United States would pay Iraqi government employees and pensioners in American dollars. These were obtained from Saddam Hussein’s accounts in American banks, which were frozen after he attacked Kuwait in 1990 and amounted to about $1.7 billion. Because the dollar is a strong and reliable currency, bringing in dollars would create financial stability until a new Iraqi governing body could be established and design a new currency. The second stage of the plan was to print a new Iraqi currency for which Iraqis could exchange their old dinars.

One of the most successful and carefully planned operations of the war has been held up to criticism and ridicule.

The final details of the plan were reviewed in the White House Situation Room by President Bush and the National Security Council on March 12, 2003. I attended that meeting. Treasury Secretary John Snow opened the presentation with a series of slides. “As soon as control over the Iraqi government is established,” the first slide read, we plan to “use United States dollars to pay civil servants and pensioners. Later, depending on the situation on the ground, we would decide about the new currency.” Another slide indicated that we could ship $100 million in small denominations to Baghdad on one week’s notice. President Bush approved the plan with the understanding that we would review the options for a new Iraqi currency later, when we knew the situation on the ground.

To carry out the first stage of the plan, President Bush issued an executive order on March 20, 2003, instructing U.S. banks to relinquish Saddam’s frozen dollars. From that money, 237.3 tons in $1, $5, $10, and $20 bills were sent to Iraq. During April, U.S. Treasury officials in Baghdad worked with the military and Iraqi Finance Ministry officials—who had painstakingly kept the payroll records despite the looting of the ministry—to make sure the right people were paid. The Iraqis extensively documented each recipient of a pension or paycheck. Treasury officials who watched over the payment process in Baghdad in those first few weeks reported a culture of good record keeping.

On April 29, Jay Garner, the retired lieutenant general who headed the reconstruction effort in Iraq at the time, reported to Washington that the payments had lifted the mood of people in Baghdad during those first few confusing days. Even more important, a collapse of the financial system was avoided.

This success paved the way for the second stage of the plan. In only a few months, 27 planeloads (in Boeing 747 jumbo jets) of new Iraqi currency were flown into Iraq from seven printing plants around the world. Armed convoys delivered the currency to 240 sites around the country. From there, it was distributed to 25 million Iraqis in exchange for their old dinars, which were then dyed, collected into trucks, shipped to incinerators, and burned or simply buried.

The new currency proved very popular. It provided a sound underpinning for the financial system and remains strong, appreciating against the dollar even in the past few months. Hence, the second part of the currency plan was also a success.

The story of the currency plan is one of several that involved large sums of cash. For example, just before the war, Saddam stole $1 billion from the Iraqi central bank. American soldiers found that money in his palaces and shipped it to a base in Kuwait, where the U.S. Army’s 336th Finance Command kept it safe. To avoid any appearance of wrongdoing, American soldiers in Kuwait wore pocketless shorts and T-shirts whenever they counted the money.

A 2003 presidential order instructed U.S. banks to hand over Saddam Hussein’s frozen dollars. From that money, 237.3 tons in $1, $5, $10, and $20 bills was shipped to Iraq.

Later, U.S. forces used the found cash to build schools and hospitals, and to repair roads and bridges. General David Petraeus has described these projects as more successful than the broader reconstruction effort.

But that wasn’t the only source of dollars. Because the new Iraqi dinar was so popular, the central bank bought billions of U.S. dollars to keep the dinar from appreciating too much. As a result, billions in cash accumulated in the vaults of the central bank. Later, with American help, the Iraqi central bank deposited these billions at the New York Federal Reserve Bank, where they could earn interest.

Finally, when Iraq started to earn dollars selling oil, the United States transferred the cash revenue to the Finance Ministry, where it was used to finance government operations, including salaries and reconstruction. Many of these transfers occurred in 2004, long after the financial stabilization operation had concluded. Iraqi Finance Ministry officials had already demonstrated that they were serious about keeping the controls they had in place. The 360 tons mentioned by Henry Waxman includes these transfers as well as the 237.3 tons shipped in 2003 during the stabilization.

The new Iraqi currency proved to be very popular. It gave a sound underpinning to the financial system and remains strong.

One of the most successful and carefully planned operations of the war has been held up for criticism and even ridicule. As these facts show, praise rather than ridicule is appropriate: praise for the brave experts in the U.S. Treasury who went to Iraq in April 2003 and established a working Finance Ministry and central bank, praise for the Iraqis in the Finance Ministry who carefully preserved payment records in the face of looting, praise for the American soldiers in the 336th Finance Command who safeguarded the found money, and, yes, even praise for planning and follow-through back in the United States.

John B. Taylor is the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University. He was previously the director of the Stanford Institute for Economic Policy Research and was founding director of Stanford's Introductory Economics Center. He has a long and distinguished record of public service. Among other roles, he served as a member of the President’s Council of Economic Advisors from 1989 to 1991 and as Under Secretary of the Treasury for International Affairs from 2001 to 2005.

This essay appeared in the New York Times on February 27, 2007.

Available from the Hoover Press is Strategic Foreign Assistance: Civil Society in International Security, by A. Lawrence Chickering, Isobel Coleman, P. Edward Haley, and Emily Vargas-Baron. To order, call 800.935.2882 or visit www.hooverpress.org.

  • Upvote 2

Share this post


Link to post
Share on other sites

Is this it?

Dollars for Dinars

by John B. Taylor

How shipping tons of U.S. currency to Iraq remade its economy—and was roundly criticized all the same. Good decision, bad press. By John B. Taylor.

In February, the House Committee on Oversight and Government Reform held a hearing that criticized the decision to ship U.S. currency into Iraq just after Saddam Hussein’s government fell. As the committee’s chairman, Henry Waxman (D-California), put it in his opening statement, “Who in their right mind would send 360 tons of cash into a war zone?” His criticism attracted wide attention, feeding antiwar sentiment and even providing material for comedians. But a careful investigation of the facts behind the currency shipment paints a far different picture.

The currency that was shipped into Iraq in the days after the fall of Saddam Hussein’s government was part of a successful financial operation that had been carefully planned months before the invasion. Its aims were to prevent a financial collapse in Iraq, put the financial system on a firm footing, and pave the way for a new Iraqi currency. Contrary to the criticism that such currency shipments were ill advised or poorly monitored, this financial plan was carried out with precision and was a complete success.

The plan, which had two stages, was designed to work in Iraq’s cash economy, in which checks or electronic funds transfers were virtually unknown and shipments of tons of cash were commonplace.

In the first stage, the United States would pay Iraqi government employees and pensioners in American dollars. These were obtained from Saddam Hussein’s accounts in American banks, which were frozen after he attacked Kuwait in 1990 and amounted to about $1.7 billion. Because the dollar is a strong and reliable currency, bringing in dollars would create financial stability until a new Iraqi governing body could be established and design a new currency. The second stage of the plan was to print a new Iraqi currency for which Iraqis could exchange their old dinars.

One of the most successful and carefully planned operations of the war has been held up to criticism and ridicule.

The final details of the plan were reviewed in the White House Situation Room by President Bush and the National Security Council on March 12, 2003. I attended that meeting. Treasury Secretary John Snow opened the presentation with a series of slides. “As soon as control over the Iraqi government is established,” the first slide read, we plan to “use United States dollars to pay civil servants and pensioners. Later, depending on the situation on the ground, we would decide about the new currency.” Another slide indicated that we could ship $100 million in small denominations to Baghdad on one week’s notice. President Bush approved the plan with the understanding that we would review the options for a new Iraqi currency later, when we knew the situation on the ground.

To carry out the first stage of the plan, President Bush issued an executive order on March 20, 2003, instructing U.S. banks to relinquish Saddam’s frozen dollars. From that money, 237.3 tons in $1, $5, $10, and $20 bills were sent to Iraq. During April, U.S. Treasury officials in Baghdad worked with the military and Iraqi Finance Ministry officials—who had painstakingly kept the payroll records despite the looting of the ministry—to make sure the right people were paid. The Iraqis extensively documented each recipient of a pension or paycheck. Treasury officials who watched over the payment process in Baghdad in those first few weeks reported a culture of good record keeping.

On April 29, Jay Garner, the retired lieutenant general who headed the reconstruction effort in Iraq at the time, reported to Washington that the payments had lifted the mood of people in Baghdad during those first few confusing days. Even more important, a collapse of the financial system was avoided.

This success paved the way for the second stage of the plan. In only a few months, 27 planeloads (in Boeing 747 jumbo jets) of new Iraqi currency were flown into Iraq from seven printing plants around the world. Armed convoys delivered the currency to 240 sites around the country. From there, it was distributed to 25 million Iraqis in exchange for their old dinars, which were then dyed, collected into trucks, shipped to incinerators, and burned or simply buried.

The new currency proved very popular. It provided a sound underpinning for the financial system and remains strong, appreciating against the dollar even in the past few months. Hence, the second part of the currency plan was also a success.

The story of the currency plan is one of several that involved large sums of cash. For example, just before the war, Saddam stole $1 billion from the Iraqi central bank. American soldiers found that money in his palaces and shipped it to a base in Kuwait, where the U.S. Army’s 336th Finance Command kept it safe. To avoid any appearance of wrongdoing, American soldiers in Kuwait wore pocketless shorts and T-shirts whenever they counted the money.

A 2003 presidential order instructed U.S. banks to hand over Saddam Hussein’s frozen dollars. From that money, 237.3 tons in $1, $5, $10, and $20 bills was shipped to Iraq.

Later, U.S. forces used the found cash to build schools and hospitals, and to repair roads and bridges. General David Petraeus has described these projects as more successful than the broader reconstruction effort.

But that wasn’t the only source of dollars. Because the new Iraqi dinar was so popular, the central bank bought billions of U.S. dollars to keep the dinar from appreciating too much. As a result, billions in cash accumulated in the vaults of the central bank. Later, with American help, the Iraqi central bank deposited these billions at the New York Federal Reserve Bank, where they could earn interest.

Finally, when Iraq started to earn dollars selling oil, the United States transferred the cash revenue to the Finance Ministry, where it was used to finance government operations, including salaries and reconstruction. Many of these transfers occurred in 2004, long after the financial stabilization operation had concluded. Iraqi Finance Ministry officials had already demonstrated that they were serious about keeping the controls they had in place. The 360 tons mentioned by Henry Waxman includes these transfers as well as the 237.3 tons shipped in 2003 during the stabilization.

The new Iraqi currency proved to be very popular. It gave a sound underpinning to the financial system and remains strong.

One of the most successful and carefully planned operations of the war has been held up for criticism and even ridicule. As these facts show, praise rather than ridicule is appropriate: praise for the brave experts in the U.S. Treasury who went to Iraq in April 2003 and established a working Finance Ministry and central bank, praise for the Iraqis in the Finance Ministry who carefully preserved payment records in the face of looting, praise for the American soldiers in the 336th Finance Command who safeguarded the found money, and, yes, even praise for planning and follow-through back in the United States.

John B. Taylor is the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University. He was previously the director of the Stanford Institute for Economic Policy Research and was founding director of Stanford's Introductory Economics Center. He has a long and distinguished record of public service. Among other roles, he served as a member of the President’s Council of Economic Advisors from 1989 to 1991 and as Under Secretary of the Treasury for International Affairs from 2001 to 2005.

This essay appeared in the New York Times on February 27, 2007.

Available from the Hoover Press is Strategic Foreign Assistance: Civil Society in International Security, by A. Lawrence Chickering, Isobel Coleman, P. Edward Haley, and Emily Vargas-Baron. To order, call 800.935.2882 or visit www.hooverpress.org.

If it is, I see nothing of a buy back program taking dinar off the streets from the citizens......

  • Upvote 1
  • Downvote 1

Share this post


Link to post
Share on other sites

But that wasn’t the only source of dollars. Because the new Iraqi dinar was so popular, the central bank bought billions of U.S. dollars to keep the dinar from appreciating too much. As a result, billions in cash accumulated in the vaults of the central bank. Later, with American help, the Iraqi central bank deposited these billions at the New York Federal Reserve Bank, where they could earn interest.

Read more: http://dinarvets.com/forums/index.php?/topic/140809-government-of-iraq-recognizes-its-inability-to-cancel-three-zeroes-of-the-dinar/page__st__80#ixzz2KWDlb4yN

Actually, if we are to take any implication at all from this article, it would be just the opposite. How do you think they were buying the dollars? Obviously with dinar. That in itself kind of shoots down the theory that they were buying up dinar. Assuming of course that this article is accurate and not just the opinion of the author.

Roadrunner

  • Upvote 2

Share this post


Link to post
Share on other sites

If it is, I see nothing of a buy back program taking dinar off the streets from the citizens......

Here is the New York Times article:

The bank spends $1 billion to $1.5 billion every month in oil revenue to buy Iraqi dinars on the open market, said Mudher M. Salih Kasim, senior adviser to the bank. This is the main lever for controlling consumer prices, said Mr. Kasim, who noted that the value of the dinar had risen about 20 percent against the dollar. An oil price crash, he added, would be “a disaster.”

The government is also trying to funnel money to placate Iraqis who endured the military operations in Sadr City, Mosul and Basra and cement their loyalty. Tahseen al-Sheikhly, a spokesman for the Baghdad security plan, said $100 million would go to Sadr City to upgrade economic and social conditions there in the wake of the two-month military operation, which left buildings shattered and markets destroyed. Dr. Safaa al-Deen al-Safi, who is charged with carrying out development and reconstruction activities, said another $100 million would be spent on areas like health and education.

Published: June 21, 2008

Share this post


Link to post
Share on other sites

Here is the New York Times article:

The bank spends $1 billion to $1.5 billion every month in oil revenue to buy Iraqi dinars on the open market, said Mudher M. Salih Kasim, senior adviser to the bank. This is the main lever for controlling consumer prices, said Mr. Kasim, who noted that the value of the dinar had risen about 20 percent against the dollar. An oil price crash, he added, would be “a disaster.”

The government is also trying to funnel money to placate Iraqis who endured the military operations in Sadr City, Mosul and Basra and cement their loyalty. Tahseen al-Sheikhly, a spokesman for the Baghdad security plan, said $100 million would go to Sadr City to upgrade economic and social conditions there in the wake of the two-month military operation, which left buildings shattered and markets destroyed. Dr. Safaa al-Deen al-Safi, who is charged with carrying out development and reconstruction activities, said another $100 million would be spent on areas like health and education.

Published: June 21, 2008

Ahhhh ok....I remember this now.....

They arent literally taking the dinar out of the hands of the citizens and destroying it.....

This is actually describing their "open market" operations, aka the currency auctions.....the bank spends/sells its revenue from oil to get dinar from participating banks, they give the dinar to the MOF and it gets injected right back into the system.....

Believe me, I wish it was.....

  • Upvote 1
  • Downvote 1

Share this post


Link to post
Share on other sites
<br>"For example, when the IQD is released into the International market place, and if we wish to 'exchange' our IQD for USD it will be handled by The Federal Reserve whom I do not trust either. But we are playing their game not ours. We exchange at a local bank and the IQDs are sent to The Fed in New York, from there it is up to The Feds if they wish to hold them or cash them in immediately with Iraq."<br><br>Could you provide a link to a legitimate source that states this is true? I've never seen any evidence foreign currency exchange is done through the FED.<br>
<div><br></div><div>Yes foreign exchanges run through the Fed. Especially now since the Fed is the regulator for Iraq since they cannot trade on the international market. There are many articles out there that describe</div><div>the process through oil credits etc etc. </div><div><br></div><div><br><br style="color: rgb(51, 51, 51); font-family: Georgia, serif; line-height: 15px; text-align: left; white-space: pre-line; background-color: rgb(245, 245, 245); ">

</div>

Share this post


Link to post
Share on other sites

Ahhhh ok....I remember this now.....

They arent literally taking the dinar out of the hands of the citizens and destroying it.....

This is actually describing their "open market" operations, aka the currency auctions.....the bank spends/sells its revenue from oil to get dinar from participating banks, they give the dinar to the MOF and it gets injected right back into the system.....

Believe me, I wish it was.....

This is removal of Iqd for price control/inflation.

Share this post


Link to post
Share on other sites

This is removal of Iqd for price control/inflation.

No its not removal in the terms you are thinking......you really think that the central bank of Iraq is spending billions a month for dinar and thenbdestroying it?

Your basically saying that they are taking billions of the oil revenue per month and flushing it down the toilet......giving away USD for nothing in return......think about it.....

  • Upvote 2
  • Downvote 1

Share this post


Link to post
Share on other sites

No its not removal in the terms you are thinking......you really think that the central bank of Iraq is spending billions a month for dinar and thenbdestroying it?

Your basically saying that they are taking billions of the oil revenue per month and flushing it down the toilet......giving away USD for nothing in return......think about it.....

Brotha Keep, they could very well destroy the physical currency, and just keep it electronic.

Either way, appreciate the discussion.

Share this post


Link to post
Share on other sites

Brotha Keep, they could very well destroy the physical currency, and just keep it electronic.

Either way, appreciate the discussion.

Some will no doubt be electronic, but the MOF doesnt run on all electronic dinar with their projects, neither do banks under the CBI that need a balance of USD and dinar on hand....

Its all just a vicious cycle.....they could surely find ways of removing dinar, but they arent exercising any of those....everything keeps going up....

The CBI takes the USD from the MOF from oil sales, gives the MOF dinar, now the CBI has to replenish what it just gave out to the MOF so it sells the USD to replace what it just gave to the MOF.....It just keeps going and going....

The profits from the auctions undoubtedly go towards building the reserves which in return helps stabilize the exchange rate due to the rising money supply......

  • Upvote 1

Share this post


Link to post
Share on other sites

Some will no doubt be electronic, but the MOF doesnt run on all electronic dinar with their projects, neither do banks under the CBI that need a balance of USD and dinar on hand....

Its all just a vicious cycle.....they could surely find ways of removing dinar, but they arent exercising any of those....everything keeps going up....

The CBI takes the USD from the MOF from oil sales, gives the MOF dinar, now the CBI has to replenish what it just gave out to the MOF so it sells the USD to replace what it just gave to the MOF.....It just keeps going and going....

The profits from the auctions undoubtedly go towards building the reserves which in return helps stabilize the exchange rate due to the rising money supply......

Don't try and explain thing with logic and facts. Say you heard it from a banker friend with connections in Iraq and folks here will follow you like the pied piper.

  • Downvote 1

Share this post


Link to post
Share on other sites

Don't try and explain thing with logic and facts. Say you heard it from a banker friend with connections in Iraq and folks here will follow you like the pied piper.

Very True.

  • Downvote 1

Share this post


Link to post
Share on other sites

No its not removal in the terms you are thinking......you really think that the central bank of Iraq is spending billions a month for dinar and thenbdestroying it?

Your basically saying that they are taking billions of the oil revenue per month and flushing it down the toilet......giving away USD for nothing in return......think about it.....

That is what they do to control prices and inflation by removing 'supply' of currency. IOWs, they are tightening their belts and drawing value into a smaller supply.

Share this post


Link to post
Share on other sites

That is what they do to control prices and inflation by removing 'supply' of currency. IOWs, they are tightening their belts and drawing value into a smaller supply.

Wow......I guess I wasnt aware that central banks with throw away billions of dollars (and in 2008 that was almost half of the total revenue coming into the country)

Ive had the auctions all wrong.....so then what is your take on the money supply numbers that keep going up instead of going down??

And may I ask how does the CBI replenish the billions of dinar it gives to the MOF?? Seems the CBI would go bankrupt in no time if this was the case....

Share this post


Link to post
Share on other sites

Dont forget that at 1.5 billion, they would be "removing" almost 2 trillion dinar......

So lets just say this happens once a month.....they would have been out of dinar back in 2010....they would have bought back all the dinar in the world....

Share this post


Link to post
Share on other sites

Wow......I guess I wasnt aware that central banks with throw away billions of dollars (and in 2008 that was almost half of the total revenue coming into the country)

Ive had the auctions all wrong.....so then what is your take on the money supply numbers that keep going up instead of going down??

I think what causes the most misunderstanding about what is going on in Iraq, is that most America were brought up in fiscal responsibility via Austrian Economics ~ whereas Keynesian Economics works in the opposite direction of a debt based economy. There are overlaps between fiscal responsibility [Austrian] and charlatan [Keynesian].

The money supply is not at all going up, the 'circulation' is going up [debt/new loans] and circulation here refers to 'fractional digital'. The 'circulation is not tied in anyway to the 'supply' of dinars on the street.

Its a gimmick that the banking cabal uses to control a nation state aka; Iraq. So when you see the numbers going up in the M2-M...., you are seeing the introduction of obligations by Iraq for a future

value date, a commitment/promissory so to speak. Its exactly like the U.S., we have approximately 3 trillion USD in supply for your wallets and a circulation of fractional digital to the tune of 72 trillion.

The U.S. is in debt and we all know this, and this is the beginning of Iraq's life of debt, based on Keynesian Economics.

It is this future value date is why the Feds will hold their Dinars and the dinars they accept from all the local banks during the 'exchange/cash in' by investors. There will be absolutely be no financial pressure due to investor cash-in/exchange upon Iraq when they release their IQD to their GDP/GNP aka; reval. Iraq is only working on cleaning their slate inside their borders. That said, investor holdings I've seen as high as perhaps 10% and the Feds will buy and hold, while they flood the market with fiat USD currency within our borders, which will help to spur on hyperinflation. They want to shut our system down as Austrian Economics quashes their ability to freely exploit hard working people in an open and free market system.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.