Central Bank announces increase in currency reserves to more than 76 billion dinars

[keepmwlknfny]

Wow....you really just dont get it.

 

Forget it.....YOUR RIGHT!!!

 

There IS 150+ billion USD in circulation in the citizens hands because of ELECTRONIC SURPLUS FUNDS from selling oil that they just handed out to the citizens!

 

The CBI is going to de-dollarize, suck up all those USD from the streets cause they will and can demand it all and we will get a revalue of the dinar at like 3 dollars!!

 

 

WOOOHOOOOO!!!  EVERYONE LOOK!!  DONTLOP FIGURED IT ALL OUT!!!  WE ARE GONNA BE RICHHHHH!!!!!!

[dontlop]

All the money Iraq takes in is in dollars or foriegn currency

The same goes out dollars or foriegn currency

If Iraq takes in100 billion total revenue for goods and services thru foriegn trade and Iraq purchases only 50 billion in foriegn goods and services Iraq has a trade surplus of 50 billion dollars

It's not in a fund or any one single account its in citizens individual accounts business accounts in their pockets and govt a coconuts that they spend in Iraq to make payroll pay contractors school teachers firemen Ect they spend all the surplus money in Iraq

They sell the dollars for dinars at auction to pay these bills then they buy dollars with their dinars they receive for pay or they spend them iniraq

So if last year Iraq f

Had 100 billion dollars circulating and this year they had a 50 billion dollars trade surplus then Iraq now has 150 billion circulating since they didn't spend it abroad

Since 2005 Iraq has has a 155 billion dollar trade surplus

I'd say the majority of that is in circulation out side the cbi and not listed on the m2 money supply since they are not Iraqi currency they are not in Iraqis m 2

Now if Iraq has records that they are auctioning off 60 billion dollars every year

They have an idea of how many dinars are on the streets

In my opinion after 2013 I think they will have close to 200 billion dollars circulating outside the cbi in Iraq and not in govt hands

That's around 7000 dollars per capita with a 30 million population

I know its hard to imagine that much money floating around a country but its really not that much

[dontlop]

In the USA we can use the m2 money supply at 10 trillion dollars and figure we have around 90 thousand dollars per capita

Iraq is different since they are dollarized you don't have public records of the dollars in the m 2

The dollars circulating in Iraq are listed in the United States m2 they are American issued currency

And because Iraq has 7000 dollars per capita floating around doesn't mean anyone is going to be rich woo boo 3 dollars

Only a nut would say that

[dontlop]

It doesn't matter who or how the surplus dollars get into Iraq as. Long as they get in the more dollars the govt takes in the more they have to auction off to the public

In the USA many different corporations bring in dollars along with small business men and those who work overseas in the end every single dollar is added to the trade figures they are not placed into any fund

Most of Iraqis oil dollars are converted into dinars and circulate on the streets of Iraq after that those dinars are either spent or converted into dollars by the citizens

Every day more and more dollars hit the streets and stay there

[George Hayduke]

I worked for 2 1/2 years in the sandbox as a Security Manager.  Every month I made payroll to TCN's and Iraqi's... in $$$$Dollars$$$$.  The Iraqi's were most vocal about getting paid in US $$.  Now, Security is just one aspect of contracting and developing Iraq's infrastructure, but every other manager I met that made cash payroll paid with US $$.  And every male Iraqi I met who was employed as a sub-contractor was building a new house.  They refused Dinars and wanted US $$ to pay for building materials and labor...  You can see where this is going and this is on a small scale.  So, it wouldn't surprise me if the cash amount of US $$ exceeds even Don'tLop's estimates.

 

It seems to me the only way to find out how many US $$ are actually on the streets is to Dollarize the Dinar to encourage/force Iraqis to go to the bank and exchange the US $$ for Dinars.  Down the road some accountant will talley up all the US $$ and until that occurs it will be very difficult to determine the 'cash reserve' on the streets.

[SocalDinar]

Didn't Saleh say that about 30 % of the cash transactions on the streets was in USDs?

How do they make change for a buck?

[NoviceInvestor]

Wow....you really just dont get it.

Forget it.....YOUR RIGHT!!!

There IS 150+ billion USD in circulation in the citizens hands because of ELECTRONIC SURPLUS FUNDS from selling oil that they just handed out to the citizens!

The CBI is going to de-dollarize, suck up all those USD from the streets cause they will and can demand it all and we will get a revalue of the dinar at like 3 dollars!!

WOOOHOOOOO!!! EVERYONE LOOK!! DONTLOP FIGURED IT ALL OUT!!! WE ARE GONNA BE RICHHHHH!!!!!!

Rich ... Like when ...

[dontlop]

Sometime ya just got to realize the cbi auctions off over a billion dollars a week to the banks in Iraq

The banks sell dollars as well as loan out the rest to the Iraqis

Some of those dollars are used for importing but not all of them

The amount that hasn't left Iraq is in the amount the cbi posts for its trade surplus numbers which add up to around 156 billion dollars from 2005 till 2012

The rest was sent out of Iraq for imports

It averages out to around 22 billion dollars a year for those 5 years 2005 thru 2012

A little less than a thousand a year per capita growth in Iraqis money supply added each year thru a

Cbi auctioned money

It doesn't return to the cbi it circulates outside of the cbi in Iraq

Out of a total of around five hundred billion auctioned off to the private sector around 345 billion was used to import

And 156 billion stayed in Iraq in the private sector and circulates

[dontlop]

So if the cbi holds 76 billion in its reserves and there's 156 billion in circulation in the private sector

That adds up to around 225 billion dollars up to the end of 2012

Now 2013 trade surplus numbers are not posted yet

Those trade surplus dollars can be added to that 225 billion

With 80 trillion dinars in the m2

And the govt saying they can back the dinar two and a half times it makes ya wonder if the amount of dollars circulating are being monitored using the trade surplus numbers

Two and a half time 80 trillion they would need around 200 billion dollars

How could they draw them in legislatively

Legal tender laws. Can de- dollarize those dollars off the streets

When the bank loans out money for someone to buy a house those dollars are used to pay wages of those who build those houses they circulate in many directions and each dollar circulates over and over

They don't disappear when they are spent unless they leave the country

And we can see by the trade surplus figures how many leave and how many stay

The dollars in the private sector are not on any Iraqi money supply figures

So no one knows how many are out there all we have is trade surplus numbers and cbi auction numbers

Right now alite over a billion a week being auctioned off

These are auctioned dollars not smuggled from a dfi fund

These dollars are auctioned daily

[MrOptimistic]

So if the cbi holds 76 billion in its reserves and there's 156 billion in circulation in the private sector

That adds up to around 225 billion dollars up to the end of 2012

Now 2013 trade surplus numbers are not posted yet

Those trade surplus dollars can be added to that 225 billion

With 80 trillion dinars in the m2

And the govt saying they can back the dinar two and a half times it makes ya wonder if the amount of dollars circulating are being monitored using the trade surplus numbers

Two and a half time 80 trillion they would need around 200 billion dollars

How could they draw them in legislatively

Legal tender laws. Can de- dollarize those dollars off the streets

When the bank loans out money for someone to buy a house those dollars are used to pay wages of those who build those houses they circulate in many directions and each dollar circulates over and over

They don't disappear when they are spent unless they leave the country

And we can see by the trade surplus figures how many leave and how many stay

The dollars in the private sector are not on any Iraqi money supply figures

So no one knows how many are out there all we have is trade surplus numbers and cbi auction numbers

Right now alite over a billion a week being auctioned off

These are auctioned dollars not smuggled from a dfi fund

These dollars are auctioned daily

What I find interesting is that the CBI announced it's reserves beginning of October... and now they are being audited this week until Oct. 27 by INTOSAI (basically an auditing arm of the United Nations)

so this reserve number may be changing soon.

[dontlop]

In 2011 Iraq had a trade surplus of around 39 billion dollars

In 2012 it was around 24 billion dollars

I wonder what this year will bring they been hovering around a hundred dollars a barrel all year and their production has increased

[MrOptimistic]

In 2011 Iraq had a trade surplus of around 39 billion dollars

In 2012 it was around 24 billion dollars

I wonder what this year will bring they been hovering around a hundred dollars a barrel all year and their production has increased

the 2014 budget is iraq's biggest budget in Iraq's history and also a big increase from the previous year. Iraq is looking like a sweet juicy succulent fruit ready to be bitten into. We are in a very good position moving into November. I'm looking forward to parliament passing the basket of laws in the coming week(s) to really get this Dinar value moving.

[dontlop]

Ya when the private sector is unleashed and taxes are applied the money will also be circulating more thru the govts hands and increase that budget even more

It's just circulating those dollars over and over increasing the GDP

[MrOptimistic]

Ya when the private sector is unleashed and taxes are applied the money will also be circulating more thru the govts hands and increase that budget even more

It's just circulating those dollars over and over increasing the GDP

Exactly, the taxes will support the government and the oil will support the entire economy as a whole.

Btw, it's peaceful around here w/o someone trying to debate a lop/RD scenario.

[dontlop]

Lol

No interruptions

Not alot of explaining going on

Hopfully the taxes will support the govt

And the oil will back (support) the dinar (ie the economy)

[Bobbydee]

74, 76, I thought it was 80 Billion $ ? I say someone doesn't know how much they have actually.

Just sayin'

Wm13

. That's because this came out on oct 6th and I remember reading this a while back. The new post on the 80 billion won't come out for another few months or maybe weeks if we are lucky. I wonder what will happen first a Float, RV or one trillion in reserves. Lol. Just kiddin around. My money is on a trillion. Ha! Giter done.

[George Hayduke]

Exactly, the taxes will support the government and the oil will support the entire economy as a whole.

Btw, it's peaceful around here w/o someone trying to debate a lop/RD scenario.

 

...now you've done it...

[ChuckFinley]

Yota, keep her coming. Always liked your stuff. 

[tenmillion]

Posted 06 October 2013 - 09:39 PM

 

 

Stats lol

This is getting old explaining this but it won't be like keep and say I'm not doing your homework for ya 

Look if they are expierrncing trade surpluses of 156 billion dollars from 2005 thru 2012 and its not showing up in the cbi reserves 

 

 

Read more: http://dinarvets.com/forums/index.php?/topic/162702-central-bank-announces-increase-in-currency-reserves-to-more-than-76-billion-dinars/page-2#ixzz2irH7x9Ah

 

Dontlop,

 

Where do you come up with the $156 billion dollar trade surplus figure?

[tenmillion]

This is from the IMF website. They use data from the WEO ~ World Economic Outlook

 

Are you referring to the Current Account - exports/imports?

 

[keepmwlknfny]

Posted 06 October 2013 - 09:39 PM

Read more: http://dinarvets.com/forums/index.php?/topic/162702-central-bank-announces-increase-in-currency-reserves-to-more-than-76-billion-dinars/page-2#ixzz2irH7x9Ah

Dontlop,

Where do you come up with the $156 billion dollar trade surplus figure?

He shared some link saying there has been a surplus in trade funds due to these increasing sale of oil. And somehow that means that the surplus ELECTRONIC funds is in physical USD in circulation in the pockets of the citizens.

[dontlop]

Posted 06 October 2013 - 09:39 PM Read more: http://dinarvets.com/forums/index.php?/topic/162702-central-bank-announces-increase-in-currency-reserves-to-more-than-76-billion-dinars/page-2#ixzz2irH7x9Ah[/size] Dontlop,[/size] Where do you come up with the $156 billion dollar trade surplus figure?[/size]

If you click on the link on your post its on that page

But here it is

If you look at the source for the chart just below the chart it says cbi

You would have to add up the trade surpluses for those years on the chart

Here's the link I provided earlier along with my explanation

http://www.tradingeconomics.com/iraq/balance-of-trade

[dontlop]

The dollars are auctioned off to the banks

The banks sell dollars and loan out dollars for homes businesses cars construction equipment

Furniture Ect

The merchants selling the products make profits

Those profits remain in private sector

A person buying a home pays profits to whom ever is building that home they pay the wages of the people involved in that building process carpenters truck drivers laborers real estate broker fees Ect

Those dollars stay in Iraq circulating

The surplus trade figures are a good indicator of how many of those dollars are remaining in Iraqis economy over and above importing costs

They circulate from there

A carpenter may pay someone to cut his grass or wash his car or he may go out to eat and pay a resturant owner

They continuously circulate

The only dollars that leave Iraq from those auctions are the ones used for importing

And as you can see on the link Iraq is expierrncing trade surpluses

It does not matter how the dollars get to Iraq or how they are spent importing

At the end of the day so many remain and so many are sent out of Iraq for importing

The trade surplus shows how many are accumulating in iraq

In 2010 cbi reserves were 67 billion dollars

In 2011 and 2012 the trade surplus was around 65 billion dollars for those two years

So reserves would have to be 132 billion if all that money went to the reserves

A billion a week is auctioned off to the private sector

It doesn't return to the cbi its either used for importing or its circulating in Iraqis private sector

[dontlop]

http://dinarvets.com/forums/index.php?/topic/155234-130-billion-the-volume-of-smuggled-iraqi-funds/  Coincidence? I think not....Notice how it talks about fund through the DFI which any money coming into Iraq went through as to try and keep track of where it all went..... All those budget surpluses, and an astonishing 130 billion missing. Hmmmm.....cant prove without a doubt, but seems this could be the answer. More likely then it being in the pocket of the citizens!

The year before was the same accusations against shabibbi

Here's his response on this link

http://goingglobaleastmeetswest.blogspot.com/2012/08/iraq-180-billion-smuggled-funds-half-of.html?m=1

Iraq $180 Billion Smuggled Funds .. Half of the funds transferred from Iraq smuggled

Looks like a once a year smear campaign to me

[tenmillion]

That's why Iraq ranks 169th out of 174 on the corruption counter!

 

 

 

$800 million smuggled from Iraq weekly, European official 

10/18/2013 

 

BRUXELLES/ Aswat al-Iraq: European official confirmed yesterday (Thursday) that $800 million are smuggled weekly from Iraq to Swiss and other overseas banks, describing the Iraqi government as "a state of bribes and corruption".

 

Head of the European Relations Commission with Iraq MP Strauss Stevenson said, in a press conference with Iraqi ex-vice president Tariq al-Hashimi and ex-Algerian Premier Sayid Ahmed Ghazali, that "authenticated sources reported this figure".

 

He questioned the fate of these smuggled amounts, criticizing the current Iraqi government as a "sate of bribes and corruption".

 

Stevenson warned against the "catastrophic situation in Iraq that might cut off European support to Iraq".