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So, about this $80billion USD in reserve...


gainesm
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I was reading that Iraq is saying they have increased their USD reserves to about $80billion.  If that is true, I think that means they are able to cover all their IQD (around 33 trillion?) at an exchange rate of around 1 IQD to 2.50 USD.

 

This is interesting to me, as I cannot think of any reason they would want to increase their reserve to this size.  They only need about $39billion USD to cover their current IQD in circulation.  Having more USD on hand doesn't make the IQD stronger - but it does allow them to cover an increase in the value of the IQD against the USD up to a 1:2.50 rate.

 

Does anyone know of any other reason the reserves would need to be this high?  The only other possible thing I can think of would be to cover their petrodollar needs, but even then that's a massive increase for a need that might not materialize any time soon.

 

Thoughts?

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***///

 

Quite a few of the articles refer to millions and billions owed and being paid out to various

other countries, projects, some kinds of payments or other for some debt or other requiring

satisfaction under the terms & conditions set forth by the UN.....

 

Maybe that's why they need such a big 'ol bankroll... :confused2:

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***///

 

Quite a few of the articles refer to millions and billions owed and being paid out to various

other countries, projects, some kinds of payments or other for some debt or other requiring

satisfaction under the terms & conditions set forth by the UN.....

 

Maybe that's why they need such a big 'ol bankroll... :confused2:

 

 

Makes sense to me :)  But I am hoping for the $2.50 RV! 

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Makes sense to me :)  But I am hoping for the $2.50 RV! 

***///

 

Yuh, we agree....That would be sweet..... :)   But things being what they are, it's hard to tell.

 

We may end up happily exchanging at ADAM's .10 figure.... We just want off this crazy RV Rollercoaster!

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***///

 

Quite a few of the articles refer to millions and billions owed and being paid out to various

other countries, projects, some kinds of payments or other for some debt or other requiring

satisfaction under the terms & conditions set forth by the UN.....

 

Maybe that's why they need such a big 'ol bankroll... :confused2:

 

I don't think money earmarked for loan repayments, etc, is counted as "reserve".

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***///

 

Yuh, we agree....That would be sweet..... :)   But things being what they are, it's hard to tell.

 

We may end up happily exchanging at ADAM's .10 figure.... We just want off this crazy RV Rollercoaster!

Where did Adam say 10 cents?
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For clarification to many of those who have come to slightly misleading conclusions based upon this article:

1. ~$29 billion USD (33 trillion IQD) is the entire 'in-circulation' currency value of the IQD.
2. $80 billion in reserves is nearly 2.5x the current USD value of the IQD in circulation. 
3. This could, theoretically, allow for the currency to increase to 2.5x it's current USD value (NOT to $2.50 USD value).
4. This would result in the dinar being 'covered' at a new rate of ~$0.002 per IQD; as opposed to the current value of ~$0.0009.
5. This would, to real investors, be a phenomenal gain and definitely worth the investment. However, those hoping for a 1,000,000% return on investment, would be terribly disappointed.

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For clarification to many of those who have come to slightly misleading conclusions based upon this article:

1. ~$29 billion USD (33 trillion IQD) is the entire 'in-circulation' currency value of the IQD.

2. $80 billion in reserves is nearly 2.5x the current USD value of the IQD in circulation. 

3. This could, theoretically, allow for the currency to increase to 2.5x it's current USD value (NOT to $2.50 USD value).

4. This would result in the dinar being 'covered' at a new rate of ~$0.002 per IQD; as opposed to the current value of ~$0.0009.

5. This would, to real investors, be a phenomenal gain and definitely worth the investment. However, those hoping for a 1,000,000% return on investment, would be terribly disappointed.

 

Yes, that is where my mind has been going.  I was doing the math in a different thread, and what I get comes out to about every current 1million IQD becoming worth about $2,670 USD after such a conversion.  It's still more than a 100% return on investment, per million, which is a ridiculously good ROI but nowhere near the kind of hopes for an overnight retirement we'd all been hoping to see.

 

Now what's this about Adam saying .10 USD?

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Now what's this about Adam saying .10 USD?

 

Adam has always said that he thinks It'll come in at  .10 cents.

 

He stands firm on that. But I sure hope it's higher.

 

Personally I cant imagine Iraq coming in at anything lower than 1:1 

 

 

It would be like going to a gala in jeans and a tee shirt

Edited by millionaire in training
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***///

 

Yuh, we agree....That would be sweet..... :)   But things being what they are, it's hard to tell.

 

We may end up happily exchanging at ADAM's .10 figure.... We just want off this crazy RV Rollercoaster!

I'm with you Sgt. 10 cents would be Huge! 

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I was reading that Iraq is saying they have increased their USD reserves to about $80billion.  If that is true, I think that means they are able to cover all their IQD (around 33 trillion?) at an exchange rate of around 1 IQD to 2.50 USD.

 

This is interesting to me, as I cannot think of any reason they would want to increase their reserve to this size.  They only need about $39billion USD to cover their current IQD in circulation.  Having more USD on hand doesn't make the IQD stronger - but it does allow them to cover an increase in the value of the IQD against the USD up to a 1:2.50 rate.

 

Does anyone know of any other reason the reserves would need to be this high?  The only other possible thing I can think of would be to cover their petrodollar needs, but even then that's a massive increase for a need that might not materialize any time soon.

 

Thoughts?

You're doing it wrong...you're math that is.

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Adam has always said that he thinks It'll come in at .10 cents.

He stands firm on that. But I sure hope it's higher.

Personally I cant imagine Iraq coming in at anything lower than 1:1

It would be like going to a gala in jeans and a tee shirt

and dont forget your bullet proof jacket as that hell hole is still in shambles.........

would you take your family there?

Edited by Texas1
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Adam has always said that he thinks It'll come in at  .10 cents.

 

He stands firm on that. But I sure hope it's higher.

 

Personally I cant imagine Iraq coming in at anything lower than 1:1 

 

 

It would be like going to a gala in jeans and a tee shirt

Ok.. You can't imagine Iraq coming in at anything lower than 1:1... Again a question is due here... With or without castration of zeros?

 

Do you / we seriously believe  they're going to have a 100,000%  (1,000 fold) RV? That we're going to have a 100,000% (1,000 fold) profit out of this?  Seriously?

 

IMVHO...If it ever RV's at 1:1 or more......It will be without 3 zeros... Again IMVHO.

Edited by umbertino
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***///

Yuh, we agree....That would be sweet..... :) But things being what they are, it's hard to tell.

We may end up happily exchanging at ADAM's .10 figure.... We just want off this crazy RV Rollercoaster!

10 cents will do just fine :)))))) $2.50 is just a dream

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if memory serves Adam has always said anywhere from .10 to $1 

Your memory is just fine EagleEye. Adam has always said that he expects somewhere between .10 and 1.00. But he has also said many times that they have the ability to go higher than that if they choose to. I personally am, up in the air, so to speak on this. Part of me says they should come out low and let people cash in before they start raising it too high. The other part of me says that they've got one chance to do this and they need to do it right and come out at what they feel is a fair value of their currency. But what do I know, I am just a country boy who makes a living getting shot at.

 

Roadrunner

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Your memory is just fine EagleEye. Adam has always said that he expects somewhere between .10 and 1.00. But he has also said many times that they have the ability to go higher than that if they choose to. I personally am, up in the air, so to speak on this. Part of me says they should come out low and let people cash in before they start raising it too high. The other part of me says that they've got one chance to do this and they need to do it right and come out at what they feel is a fair value of their currency. But what do I know, I am just a country boy who makes a living getting shot at.

 

Roadrunner

actually I agree with your "country boy" assessment RR... and I would add they would NOT want the "whales" to jump in at .10 cents in order to become super whales  :eagle:  :twocents:

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