yota691 Posted May 12, 2013 Report Share Posted May 12, 2013 (edited) Economist calls for the adoption of the oil and gas reserve of the Central Bank economist May 11, 2013, 1:43 pm Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country. Said Antoine told him the reporter, "news agency Iraqis," that: "reserves the central bank alone is not enough to maintain the stability of the Iraqi economy, where you must rely on reserve economist is the stock of oil and gas, because the reserves the central bank money and gold is not equal to the export of oil to one year . " Noting that: "The principal reserve that is possible to protect Iraq's economy is the stock of oil and gas in the ground," and explained that "the statistics of the Ministry of Oil, suggests that the oil reserves reached about 150 billion barrels and 19 billion m3 of gas, up to the month of February of the year Current. " Edited May 12, 2013 by yota691 16 1 Link to comment Share on other sites More sharing options...
Butifldrm Posted May 12, 2013 Report Share Posted May 12, 2013 GM and thanks for the post yota. This has always been a question of mine. Could Iraq monetize their oil reserves to back their currency? 6 Link to comment Share on other sites More sharing options...
sandfly Posted May 12, 2013 Report Share Posted May 12, 2013 THANKS 2 2 Link to comment Share on other sites More sharing options...
moneysoon Posted May 12, 2013 Report Share Posted May 12, 2013 This asset would further substantiate a solid move towards becoming a donor country. 2 Link to comment Share on other sites More sharing options...
dinarbeleiver Posted May 12, 2013 Report Share Posted May 12, 2013 Brilliant article yota thanks 3 Link to comment Share on other sites More sharing options...
unirod Posted May 12, 2013 Report Share Posted May 12, 2013 Brilliant idea Iraq!! now do it!!! Thx Yota 2 Link to comment Share on other sites More sharing options...
TheArtistFormallyKnownAs Posted May 12, 2013 Report Share Posted May 12, 2013 They need to listen to this expert, thanks Yota. 2 Link to comment Share on other sites More sharing options...
TBomb Posted May 12, 2013 Report Share Posted May 12, 2013 Also, could they need monetize their oil reserves because they have to start paying people back? 2 Link to comment Share on other sites More sharing options...
waterman13 Posted May 12, 2013 Report Share Posted May 12, 2013 Could this have something to do with all the talk of all the Central Banks of the world backing their "money" with tangible assets, ie: gold, silver, oil, natural gas, mineral deposits, etc. ? WM13 2 Link to comment Share on other sites More sharing options...
zigmeister Posted May 12, 2013 Report Share Posted May 12, 2013 Also, could they need monetize their oil reserves because they have to start paying people back? Or is this the work around an RD? 2 Link to comment Share on other sites More sharing options...
TBomb Posted May 12, 2013 Report Share Posted May 12, 2013 Zig..I like the way you think...let it be so!!! :-) Could this have something to do with all the talk of all the Central Banks of the world backing their "money" with tangible assets, ie: gold, silver, oil, natural gas, mineral deposits, etc. ? WM13 Yes, I think you're onto something waterman. 2 Link to comment Share on other sites More sharing options...
uncirculd Posted May 12, 2013 Report Share Posted May 12, 2013 This goes along with basel III complaince right? 2 Link to comment Share on other sites More sharing options...
zigmeister Posted May 13, 2013 Report Share Posted May 13, 2013 This is one of the most intriguing articles in a long time. 3 Link to comment Share on other sites More sharing options...
Carrello Posted May 13, 2013 Report Share Posted May 13, 2013 Zig, I got chills reading "RD". Happy Kamels Day! 2 Link to comment Share on other sites More sharing options...
DinarThug Posted May 13, 2013 Report Share Posted May 13, 2013 Zig, I got chills reading "RD". Happy Kamels Day! U Think That U Got Chills - Check Out Zig ! 2 Link to comment Share on other sites More sharing options...
dontlop Posted May 13, 2013 Report Share Posted May 13, 2013 (edited) i sent this to the cbi a couple months back WHERE IS THE Wealth of NATIONS? THE WORLD BANK Washington, D.C. Measuring Capital for the 21st Century http://siteresources.worldbank.org/INTEEI/214578-1110886258964/20748034/All.pdf Energy and Mineral ResourcesIn this section, the methodology used in the estimation of the valueof nonrenewable resources is described. At least three reasons liebehind the diffi culties in such calculations. First, the importance of theinclusion of natural resources in the national accounting systems has beenrecognized only in the last decades, and although efforts to broaden thenational accounts are being made, they are mostly limited to internationalorganizations (such as the UN or the World Bank). Second, there are noprivate markets for subsoil resource deposits to convey information on thevalue of these stocks. Third, the stock size is defi ned in economic terms—reserves are “that part of the reserve base which could be economicallyextracted or produced at the time of determination”—and, therefore, it isdependent on the prevalent economic conditions, namely technology andprices.6Despite all these diffi culties, dollar values were assigned to the stocksof the main energy resources (oil, gas, and coal7) and to the stocks of10 metals and minerals (bauxite, copper, gold, iron ore, lead, nickel,phosphate rock, silver, tin, and zinc) for all the countries that haveproduction figures. Do Changes in Wealth Matter forthe Generation of Well-Being?Natural resources are special economic goods because they are notproduced. As a consequence, natural resources will yield economicprofi ts—rents—if properly managed. These rents can be an importantsource of development fi nance, and countries like Botswana and Malaysiahave successfully used natural resources in this way. There are nosustainable diamond mines, but there are sustainable diamond-miningcountries. Behind this statement is an assumption that it is possible totransform one form of wealth—diamonds in the ground—into otherforms of wealth such as buildings, machines, and human capital. i sent it email under title of world bank .. maybe someone read it Edited May 13, 2013 by dontlop 2 Link to comment Share on other sites More sharing options...
zigmeister Posted May 13, 2013 Report Share Posted May 13, 2013 i sent this to the cbi a couple months back WHERE IS THE Wealth of NATIONS? THE WORLD BANK Washington, D.C. Measuring Capital for the 21st Century http://siteresources.worldbank.org/INTEEI/214578-1110886258964/20748034/All.pdf Energy and Mineral Resources In this section, the methodology used in the estimation of the value of nonrenewable resources is described. At least three reasons lie behind the diffi culties in such calculations. First, the importance of the inclusion of natural resources in the national accounting systems has been recognized only in the last decades, and although efforts to broaden the national accounts are being made, they are mostly limited to international organizations (such as the UN or the World Bank). Second, there are no private markets for subsoil resource deposits to convey information on the value of these stocks. Third, the stock size is defi ned in economic terms— reserves are “that part of the reserve base which could be economically extracted or produced at the time of determination”—and, therefore, it is dependent on the prevalent economic conditions, namely technology and prices.6 Despite all these diffi culties, dollar values were assigned to the stocks of the main energy resources (oil, gas, and coal7) and to the stocks of 10 metals and minerals (bauxite, copper, gold, iron ore, lead, nickel, phosphate rock, silver, tin, and zinc) for all the countries that have production figures. Do Changes in Wealth Matter for the Generation of Well-Being? Natural resources are special economic goods because they are not produced. As a consequence, natural resources will yield economic profi ts—rents—if properly managed. These rents can be an important source of development fi nance, and countries like Botswana and Malaysia have successfully used natural resources in this way. There are no sustainable diamond mines, but there are sustainable diamond-mining countries. Behind this statement is an assumption that it is possible to transform one form of wealth—diamonds in the ground—into other forms of wealth such as buildings, machines, and human capital. i sent it email under title of world bank .. maybe someone read it Perhaps they are still looking for a translator. Zig, I got chills reading "RD". Happy Kamels Day! Just a thought, RD is chilling. 1 1 Link to comment Share on other sites More sharing options...
zigmeister Posted May 15, 2013 Report Share Posted May 15, 2013 i sent this to the cbi a couple months back WHERE IS THE Wealth of NATIONS? THE WORLD BANK Washington, D.C. Measuring Capital for the 21st Century http://siteresources.worldbank.org/INTEEI/214578-1110886258964/20748034/All.pdf Energy and Mineral Resources In this section, the methodology used in the estimation of the value of nonrenewable resources is described. At least three reasons lie behind the diffi culties in such calculations. First, the importance of the inclusion of natural resources in the national accounting systems has been recognized only in the last decades, and although efforts to broaden the national accounts are being made, they are mostly limited to international organizations (such as the UN or the World Bank). Second, there are no private markets for subsoil resource deposits to convey information on the value of these stocks. Third, the stock size is defi ned in economic terms— reserves are “that part of the reserve base which could be economically extracted or produced at the time of determination”—and, therefore, it is dependent on the prevalent economic conditions, namely technology and prices.6 Despite all these diffi culties, dollar values were assigned to the stocks of the main energy resources (oil, gas, and coal7) and to the stocks of 10 metals and minerals (bauxite, copper, gold, iron ore, lead, nickel, phosphate rock, silver, tin, and zinc) for all the countries that have production figures. Do Changes in Wealth Matter for the Generation of Well-Being? Natural resources are special economic goods because they are not produced. As a consequence, natural resources will yield economic profi ts—rents—if properly managed. These rents can be an important source of development fi nance, and countries like Botswana and Malaysia have successfully used natural resources in this way. There are no sustainable diamond mines, but there are sustainable diamond-mining countries. Behind this statement is an assumption that it is possible to transform one form of wealth—diamonds in the ground—into other forms of wealth such as buildings, machines, and human capital. i sent it email under title of world bank .. maybe someone read it I completely missed what you were referring to in this article. It appears someone indeed did read it. Not only that, I am sure they are researching it as well by the sounds of the article above. I really like this. Link to comment Share on other sites More sharing options...
Hotcurl Posted May 15, 2013 Report Share Posted May 15, 2013 This goes along with basel III complaince right? Yep, that's what I'm thinking ...................................... Link to comment Share on other sites More sharing options...
dontlop Posted May 24, 2013 Report Share Posted May 24, 2013 Economist calls for the adoption of the oil and gas reserve of the Central Bank economist May 11, 2013, 1:43 pm Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country. Said Antoine told him the reporter, "news agency Iraqis," that: "reserves the central bank alone is not enough to maintain the stability of the Iraqi economy, where you must rely on reserve economist is the stock of oil and gas, because the reserves the central bank money and gold is not equal to the export of oil to one year . " Noting that: "The principal reserve that is possible to protect Iraq's economy is the stock of oil and gas in the ground," and explained that "the statistics of the Ministry of Oil, suggests that the oil reserves reached about 150 billion barrels and 19 billion m3 of gas, up to the month of February of the year Current. " i cant forget this post a couple weeks ago .. 1 Link to comment Share on other sites More sharing options...
zigmeister Posted May 25, 2013 Report Share Posted May 25, 2013 i cant forget this post a couple weeks ago .. Nor can I. Link to comment Share on other sites More sharing options...
dontlop Posted October 11, 2013 Report Share Posted October 11, 2013 (edited) Yep they got plenty of oil to back the dinar just like the economist says they do Notice how the articlel says use oil and gas to back the dinars ,,INSTEAD.. Of gold and the dollar He goes on to say the oil in the ground Edited October 11, 2013 by dontlop 2 Link to comment Share on other sites More sharing options...
keepmwlknfny Posted October 11, 2013 Report Share Posted October 11, 2013 This goes along with basel III complaince right? No basel III compliance isnt on the central bank level of backing the value of the currency 3 6 Link to comment Share on other sites More sharing options...
dontlop Posted October 11, 2013 Report Share Posted October 11, 2013 i sent this to the cbi a couple months back WHERE ISTHE Wealthof NATIONS?THE WORLD BANKWashington, D.C.Measuring Capital for the 21st Centuryhttp://siteresources.worldbank.org/INTEEI/214578-1110886258964/20748034/All.pdfEnergy and Mineral ResourcesIn this section, the methodology used in the estimation of the valueof nonrenewable resources is described. At least three reasons liebehind the diffi culties in such calculations. First, the importance of theinclusion of natural resources in the national accounting systems has beenrecognized only in the last decades, and although efforts to broaden thenational accounts are being made, they are mostly limited to internationalorganizations (such as the UN or the World Bank). Second, there are no private markets for subsoil resource deposits to convey information on the value of these stocks. Third, the stock size is defi ned in economic terms— reserves are “that part of the reserve base which could be economically extracted or produced at the time of determination”—and, therefore, it is dependent on the prevalent economic conditions, namely technology and prices.6 Despite all these diffi culties, dollar values were assigned to the stocks of the main energy resources (oil, gas, and coal7) and to the stocks of 10 metals and minerals (bauxite, copper, gold, iron ore, lead, nickel, phosphate rock, silver, tin, and zinc) for all the countries that have production figures. Do Changes in Wealth Matter for the Generation of Well-Being? Natural resources are special economic goods because they are not produced. As a consequence, natural resources will yield economic profi ts—rents—if properly managed. These rents can be an important source of development fi nance, and countries like Botswana and Malaysia have successfully used natural resources in this way. There are no sustainable diamond mines, but there are sustainable diamond-mining countries. Behind this statement is an assumption that it is possible to transform one form of wealth—diamonds in the ground—into other forms of wealth such as buildings, machines, and human capital. i sent it email under title of world bank .. maybe someone read it Notice the world bank article talks about minerals in the ground being used to finance economies Turning oil in the ground into human capitol Oh no there's no way to do that just ask a lopster 1 Link to comment Share on other sites More sharing options...
dontlop Posted October 12, 2013 Report Share Posted October 12, 2013 Everyone everywhere doesn't know everything What...IF... Sending the world bank article to the cbi opened some eyes and the plans they had came to a complete halt and they started over again so they can rv using the oil in the ground to back the dinars new higher rate What if ...by me emailing this world bank article to the cbi I single handedly stopped the lop and now we are looking at a huge rv Hey this if word works pretty good What If we were going to get squat now were gonna be millionaires If ...there was only a way to get some gurus sources to look into it they got connections ya know 1 Link to comment Share on other sites More sharing options...
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