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A rate of $2.50? No...they are not talking rate here.

fib1618

By fib1618,
in LOPster tank

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fib1618 Newbie

fib1618

Posted
Posted

Here is the meat of an article that Al Bundy posted earlier....

"Khalil said (of the Agency news): that the increase in monetary reserves of the Central Bank for more than 80 billion dollars, this means that ALL IRAQI DINARS located INSIDE or OUTSIDE IRAQ COVERED TWO DOLLARS and a HALF DOLLAR, because the size of the blocks cash of the Iraqi currency amounting to 33 trillion dinars."

Let's break this down...

the CBI has increased it's foreign reserves to roughly $80 billion.

They have about 33 trillion hard currency dinar total(in and out of country)....these dinar are worth roughly $28 billion

So what they are saying is they have enough in reserves to cover that 33 trillion dinar by 2.5 times....

They do.... With plenty to spare.

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fib1618 Newbie

fib1618

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Posted

Yeh, there will be the usual celebrations, then the reality, and then everyone will just say, "Oh, well, it was fun to pretend" and go back to dreaming. This happens over and over.

You're right... Witnessed that a million times over the years. Lol

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The Machine Newbie

The Machine

Posted
Posted

Here is the meat of an article that Al Bundy posted earlier....

"Khalil said (of the Agency news): that the increase in monetary reserves of the Central Bank for more than 80 billion dollars, this means that ALL IRAQI DINARS located INSIDE or OUTSIDE IRAQ COVERED TWO DOLLARS and a HALF DOLLAR, because the size of the blocks cash of the Iraqi currency amounting to 33 trillion dinars."

Let's break this down...

the CBI has increased it's foreign reserves to roughly $80 billion.

They have about 33 trillion hard currency dinar total(in and out of country)....these dinar are worth roughly $28 billion

So what they are saying is they have enough in reserves to cover that 33 trillion dinar by 2.5 times....

They do.... With plenty to spare.

Agreed .....nice breakdon

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Kaduku Newbie

Kaduku

Posted
Posted

Here is the meat of an article that Al Bundy posted earlier....

"Khalil said (of the Agency news): that the increase in monetary reserves of the Central Bank for more than 80 billion dollars, this means that ALL IRAQI DINARS located INSIDE or OUTSIDE IRAQ COVERED TWO DOLLARS and a HALF DOLLAR, because the size of the blocks cash of the Iraqi currency amounting to 33 trillion dinars."

Let's break this down...

the CBI has increased it's foreign reserves to roughly $80 billion.

They have about 33 trillion hard currency dinar total(in and out of country)....these dinar are worth roughly $28 billion

So what they are saying is they have enough in reserves to cover that 33 trillion dinar by 2.5 times....

They do.... With plenty to spare.

This means that an RV can go beyond $3.00 folks!

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RVPleaseToday Newbie

RVPleaseToday

Posted
Posted (edited)

totalnewb, could you locate $100 trillion worth of gold in the world for me? And how do you back a currency and keep it stable when the price of the commodity backing it keeps changing drastically?

 

I think the current number is $8.5 trillion worth of gold in the world.

Edited by RVPleaseToday
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chess Explorer

chess

Posted
Posted

totalnewb, could you locate $100 trillion worth of gold in the world for me? And how do you back a currency and keep it stable when the price of the commodity backing it keeps changing drastically?

 

I think the current number is $8.5 trillion worth of gold in the world.

 

...........plus, what's on those necklace tables on the streets of Hong Kong!

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ATHIM Apprentice

ATHIM

Posted
Posted

Didn't Iraq already have 50 bil. in hand with an additional 80 billion added to equal 130 bil?

 

I am wondering why you trust the amount of DInar they quote is in circulation, just because they said it doesn't mean it isn't another misdirect?

 

At any rare, at the current exchange rate, about 35 billion of the reserve they hold would reduce the amount of Dinar in circulation to zero, and they could revalue to whatever amount they seem fit. Not that it will happen that way, but it would seem to be a logical approach as opposed to a wash out event.

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RVPleaseToday Newbie

RVPleaseToday

Posted
Posted

"At any rare, at the current exchange rate, about 35 billion of the reserve they hold would reduce the amount of Dinar in circulation to zero,"

 

I'm confused. Would you sell them back your Dinar for at the current 1166 rate? That's the only way they could reduce the amount of dinar to zero with $35 billion.

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Sweet baby dinar Newbie

Sweet baby dinar

Posted
Posted

Here is the meat of an article that Al Bundy posted earlier....

"Khalil said (of the Agency news): that the increase in monetary reserves of the Central Bank for more than 80 billion dollars, this means that ALL IRAQI DINARS located INSIDE or OUTSIDE IRAQ COVERED TWO DOLLARS and a HALF DOLLAR, because the size of the blocks cash of the Iraqi currency amounting to 33 trillion dinars."

Let's break this down...

the CBI has increased it's foreign reserves to roughly $80 billion.

They have about 33 trillion hard currency dinar total(in and out of country)....these dinar are worth roughly $28 billion

So what they are saying is they have enough in reserves to cover that 33 trillion dinar by 2.5 times....

They do.... With plenty to spare.

This is exactly what it is saying, finally something legible out of Iraq and the crowd still starts posting " I'm so excited, is it here?" comments. Wow.

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skeetdog Mentor

skeetdog

Posted
Posted

Why would Iraq even worry about the dinar outside of thier borders. They are a soveign nation now and the rules change. The world knows thier potential and have already placed thier bets. The horse has been gated and all are waitin' to watch the gates open to see how thier horse can run. We that own the RV dinar must place our bets to ''SHOW'' and the nations that cash our dinar in are betting on the horse to ''WIN''. We'll probibly get around 80 cents, give are take. The nations that cash in the dinar (which will turn into a Petro Dollar) will exchange thier dinar, now petro dollar, for the black gold in the ground safety under Iraq. These nations holding petro dollars will want to hold on to them as Iraq's economy booms in the next decade. You think we were in it for a minute, it starts all over again. Iraq is no secrete to the world. All these dinar people keep talkin' about is trivial. The massive amount of dinar people keep counting are out there. Why would a country forgive Iraq it's debt...because Iraq is a sure bet. If someone owed you 50 bucks and had a 100 arcer tater farm full of spuds ready pull but like the money to buy a 5 dollar shovel to dig the taters out of the ground...me I'd go another 5 bucks in debt to get a return on my investment...and maybe a bowl of tater suop. This's what the world has done. The nations that forgave Iraq it's debts are now holding the dinar with the expatation of what little we that will cash in, will just add to thier amount. Iraq knows these nation have agreed not to cash in until thier economy can with stand the exchange. Why wouldn't these nations wait...Iraq's money is going to increase in value. The longer they hold the petro dollar the more oil it will buy. The US even gets a sweeter deal for coming to Iraq's add....as in half price for a barrel of oil. We see a 80 cent winning ticket for the horse showing and the nations holding the now petro dollar win by the horse winning the race at say around 3 bucks...in a year or two....This's the way I've followed this since 03'....now as usual you all can neg the sh!t out of me agian...

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ATHIM Apprentice

ATHIM

Posted
Posted

"At any rare, at the current exchange rate, about 35 billion of the reserve they hold would reduce the amount of Dinar in circulation to zero,"

 

I'm confused. Would you sell them back your Dinar for at the current 1166 rate? That's the only way they could reduce the amount of dinar to zero with $35 billion.

Not everyone like us is a speculator and will keep their Dinar till the end game. They can buy back loose currency at the current rate if they desire driving up the potential value of the remaining hard currency. I am not assuming they can buy it all back but they can certainly drop the amount on the street with the USD in hand as is evidenced by the current USD drive. I dont believe their quoted currency amounts anyway. They will keep the scent of a rise well hidden behind many lies and the true IQD volume is still a surprise.

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dontlop Newbie

dontlop

Posted
Posted (edited)

under the currenct exchange regime this means 1166 dinars equals $2.50 .. or at least they say they can cover it 2.5 times ..right now they only guarentee 1166 dinars for 1 dollar

 



looks like their sayin they can change the exchange rate to 466.4 dinars   to one dollar with this amount of reserves

Edited by dontlop
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