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New revealed numbers by UNCC


Doc31
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I have always been an RV guy ... mainly because of the following. When someone tells us that the IQD "sounds too good to be true" we always point them at Kuwait. But that's the last time we want to discuss Kuwait. However, to me, it's our template of sorts (yes, I know about Germany, etc. etc). And that is why RV makes sense to me. However, through posts on DV and elsewhere, I've heard 3 separate arguements for RI ... one mathematical, one from an economics standpoint (also mathematical), and one (almost) philosophical.

A week or so ago a post was made (on the NEWS side of DV) disclosing that Iraq's oil money, in it's entirety, was not being utilized for the good of Iraq but was being deposited in a bank in the US (New York I believe) at the rate of $1B - $6B per month and if you did the math on the time frame it was about 72 months worth which made their deposit (speculatively) a minimum of $72B. We also noted that the pipeline is on and pumping NOW and that they had increased barrel output etc. so we believed that it might even be higher than the $6B/month that was disclosed.

We went on to show, with the aforementioned math, how it WAS possible to RI ... supporting one of the above arguements ... speculative, mind you, but possible. We based our suppositions on the minimum of $72B. The problem was that we don't actually know how much is in that fund ... UNTIL NOW!

CAPTMED posted an article in NEWS today entitled "69th Session of UNCC Governing Council" with a link: http://www.uncc.ch/p...l/69%20open.pdf

The UNCC fields claims against those in Chapt 7. In this article it discusses how many claims were filed by individuals and countries against Iraq and what damages were actual (vs claimed) as determined by the UNCC. It tells what the total bill is, how much has been paid, and how it is being paid.

Now here is where it gets interesting. On page two of the document it discloses that $28.9B has been paid and that it is coming from the oil revenues at a prescribed rate of 5% of the oil revenues. With a little math utilizing ratios we can calculate that if $28.9B is 5% then there must be a 100% which is the figure that we were needing in the aforementioned discussion and that is HOW MUCH IS IN THE FUND IN NY?

And it is (mathematically) $578B

Folks, I'm not telling you that they are going to RI ... I'm telling you that since 90% of the IQD sold belongs to countries (calculated by a retired State Dept Economist and posted on the NEWS site) that by IMF law they are required to hold a percentage of their standard trade with Iraq (meaning that it won't be cashed in all at once, but utilized for trade, and still held as per the IMF requirement) and that only 10% is held by folks like us who probably would cash in on RI ... together with the tons of gold that will be released upon lifting of Chapt 7 ... RI is actually feasible.

Don't get me wrong I'm still an RV guy. Statistics tell me that 93% of the RV possibilities hit between $.86 and $2.10. That is simply too high to ignore. 60% of that at $.86 to $1.20. Another 21% between $1.21 and $1.86. and the last 12% between $1.87 and $2.10. Remember this though, as I always tell my IQD group that “that and $1.79 will get you a cup of coffee at 7/11!” IT”S JUST MY OPINION BASED ON NUMBERS (but it is pretty well sorted out).

My own personal favorite is whatever the EURO is trading for on the day it RV’s.

Last Novemeber when we got all excited …you remember, when we saw Baghdad bank rates set IQD at $1.49 for days during business hours. Guess what? That was the exact exchange rate of the USD vs EUR for those days! Today it is trading at $1.33. So, if it RV’d tomorrow my personal expectations would be $1.33. This would peg it superior to the dollar and even with the Euro (which many expect to be named the world’s next reserve currency if we don’t get our financial act together and quit printing money as per our new leadership … ahhhhh, I digress … and the European community gets Portugal, Greece and Spain straightened out or ousted). It would be a brilliant strategy placing it amidst the global currencies … above the Aussie’s and the Kiwis (which in my opinion it should be with it’s oil and agricultural prospects) … and well below the British Pound. It’s kind of a Goldilocks position. Not too high and not too low … just right.

Please don’t pretend that I’m foolish enough to wish for an RV over an RI. And please don’t shoot the messenger. I was just trying to tie two posts together and put some sense to all of this.

By the way many thanks to CAPTMED for his post to work off of.

Peace

Doc31

PS if you don’t agree … no need to bash … I realize it’s going to come out at what it’s going to come out at … and I will figure a way to ride it up higher still … just kicking around some numbers here and it’s why I changed the post to the rumor side of DV

Thanks Doc, I'm liking you post, and it definitely makes sense and appears to be quite feasible.

Thanks for the research and putting it together.

V

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Doc31,

Great job on this. I agree that the amount in this federal reserve account is huge and will be returned to the CBI by the end of this year. Here is a number that you might have left out of your calculation. The 5% is accurate. But, that does not mean that the other 95% goes to this account. It is my understanding that 30% of these revenues go the the cost of operating the government. Therefore run those numbers again with 65% going into the fund. Thanks for a great post

Lgraham

Thanks Doc, I'm liking you post, and it definitely makes sense and appears to be quite feasible.

Thanks for the research and putting it together.

V

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Doc31 thank you for your time and care you put into your post and the info presented. You rock!!!!

Doc31,

Great job on this. I agree that the amount in this federal reserve account is huge and will be returned to the CBI by the end of this year. Here is a number that you might have left out of your calculation. The 5% is accurate. But, that does not mean that the other 95% goes to this account. It is my understanding that 30% of these revenues go the the cost of operating the government. Therefore run those numbers again with 65% going into the fund. Thanks for a great post

Lgraham

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I personally appreciate your good sense and careful analysis here and it arouses a few thoughts about the RV/RI situation. With those levels of dollars involved in "escrow," the suspicion arises as to whether or not the RV/RI and Chapter VII sanction removals are being deliberately delayed because the banks do not wish to or are not in a position currently to part with Iraq's assets. Why would the banks want to return what is due to Iraq if they are exploiting the resources for their own benefit? Any reluctance on the part of Iraq to proceed with the enhancement of their IQD value is not really logical if you think about it unless they are facing a major impediment over which they have no control

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Doc31,

Great job on this. I agree that the amount in this federal reserve account is huge and will be returned to the CBI by the end of this year. Here is a number that you might have left out of your calculation. The 5% is accurate. But, that does not mean that the other 95% goes to this account. It is my understanding that 30% of these revenues go the the cost of operating the government. Therefore run those numbers again with 65% going into the fund. Thanks for a great post

Lgraham

My understanding is that the poverty in Iraq is the direct result of the fact that 30% going to the cost of operating government is NOT true as much of it should be going to programs to help their citizens (from the governmental departments)... however, from my seat in SW FL (LOL) ... I have no way of ascertaining which is true. So, if we assume that the 30% plus the 5% are NOT draws of drawn down funds (I hope you followed) and we call it 35% from oil profits leaving 65% ... there is still $375.78 Billion in a New York bank!

Part of the reason that I personally don't believe the 30% is being used is that the difference is about $202 Billion! That's a lot of pocket change to operate such a backwards, low operational level, governmental operation. Although, I do understand that there is rampant mis-use of funds ... who knows

Anyway, there are the two versions ... take your pick ... either is huge. $578 Billion or $375.78 Billion

Peace

Doc31

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My understanding is that the poverty in Iraq is the direct result of the fact that 30% going to the cost of operating government is NOT true as much of it should be going to programs to help their citizens (from the governmental departments)... however, from my seat in SW FL (LOL) ... I have no way of ascertaining which is true. So, if we assume that the 30% plus the 5% are NOT draws of drawn down funds (I hope you followed) and we call it 35% from oil profits leaving 65% ... there is still $375.78 Billion in a New York bank!

Part of the reason that I personally don't believe the 30% is being used is that the difference is about $202 Billion! That's a lot of pocket change to operate such a backwards, low operational level, governmental operation. Although, I do understand that there is rampant mis-use of funds ... who knows

Anyway, there are the two versions ... take your pick ... either is huge. $578 Billion or $375.78 Billion

Peace

Doc31

Thanks Doc31......This is a terrific post and I love both of those numbers. I have become convinced that Iraq is really benefiting from the delay in a RV or RI. Look at how quickly the numbers that you have provided can grow. With the increasing cost of a barrel of oil, the profits that are going into this federal reserve account are growing into some incredible numbers. Plus, it keeps the politicians from getting their greedy little hands on these funds. Hopefully, we will be able to look back on all these delays and realize that it is really worth the wait. Thanks again.

Lgraham

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I have always been an RV guy ... mainly because of the following. When someone tells us that the IQD "sounds too good to be true" we always point them at Kuwait. But that's the last time we want to discuss Kuwait. However, to me, it's our template of sorts (yes, I know about Germany, etc. etc). And that is why RV makes sense to me. However, through posts on DV and elsewhere, I've heard 3 separate arguements for RI ... one mathematical, one from an economics standpoint (also mathematical), and one (almost) philosophical.

A week or so ago a post was made (on the NEWS side of DV) disclosing that Iraq's oil money, in it's entirety, was not being utilized for the good of Iraq but was being deposited in a bank in the US (New York I believe) at the rate of $1B - $6B per month and if you did the math on the time frame it was about 72 months worth which made their deposit (speculatively) a minimum of $72B. We also noted that the pipeline is on and pumping NOW and that they had increased barrel output etc. so we believed that it might even be higher than the $6B/month that was disclosed.

We went on to show, with the aforementioned math, how it WAS possible to RI ... supporting one of the above arguements ... speculative, mind you, but possible. We based our suppositions on the minimum of $72B. The problem was that we don't actually know how much is in that fund ... UNTIL NOW!

CAPTMED posted an article in NEWS today entitled "69th Session of UNCC Governing Council" with a link: http://www.uncc.ch/p...l/69%20open.pdf

The UNCC fields claims against those in Chapt 7. In this article it discusses how many claims were filed by individuals and countries against Iraq and what damages were actual (vs claimed) as determined by the UNCC. It tells what the total bill is, how much has been paid, and how it is being paid.

Now here is where it gets interesting. On page two of the document it discloses that $28.9B has been paid and that it is coming from the oil revenues at a prescribed rate of 5% of the oil revenues. With a little math utilizing ratios we can calculate that if $28.9B is 5% then there must be a 100% which is the figure that we were needing in the aforementioned discussion and that is HOW MUCH IS IN THE FUND IN NY?

And it is (mathematically) $578B

Folks, I'm not telling you that they are going to RI ... I'm telling you that since 90% of the IQD sold belongs to countries (calculated by a retired State Dept Economist and posted on the NEWS site) that by IMF law they are required to hold a percentage of their standard trade with Iraq (meaning that it won't be cashed in all at once, but utilized for trade, and still held as per the IMF requirement) and that only 10% is held by folks like us who probably would cash in on RI ... together with the tons of gold that will be released upon lifting of Chapt 7 ... RI is actually feasible.

Don't get me wrong I'm still an RV guy. Statistics tell me that 93% of the RV possibilities hit between $.86 and $2.10. That is simply too high to ignore. 60% of that at $.86 to $1.20. Another 21% between $1.21 and $1.86. and the last 12% between $1.87 and $2.10. Remember this though, as I always tell my IQD group that “that and $1.79 will get you a cup of coffee at 7/11!” IT”S JUST MY OPINION BASED ON NUMBERS (but it is pretty well sorted out).

My own personal favorite is whatever the EURO is trading for on the day it RV’s.

Last Novemeber when we got all excited …you remember, when we saw Baghdad bank rates set IQD at $1.49 for days during business hours. Guess what? That was the exact exchange rate of the USD vs EUR for those days! Today it is trading at $1.33. So, if it RV’d tomorrow my personal expectations would be $1.33. This would peg it superior to the dollar and even with the Euro (which many expect to be named the world’s next reserve currency if we don’t get our financial act together and quit printing money as per our new leadership … ahhhhh, I digress … and the European community gets Portugal, Greece and Spain straightened out or ousted). It would be a brilliant strategy placing it amidst the global currencies … above the Aussie’s and the Kiwis (which in my opinion it should be with it’s oil and agricultural prospects) … and well below the British Pound. It’s kind of a Goldilocks position. Not too high and not too low … just right.

Please don’t pretend that I’m foolish enough to wish for an RV over an RI. And please don’t shoot the messenger. I was just trying to tie two posts together and put some sense to all of this.

By the way many thanks to CAPTMED for his post to work off of.

Peace

Doc31

PS if you don’t agree … no need to bash … I realize it’s going to come out at what it’s going to come out at … and I will figure a way to ride it up higher still … just kicking around some numbers here and it’s why I changed the post to the rumor side of DV

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SeanT,

RV is a revalue. This can can be at any value as determined by the CBI. RI is a re-instatement. Meaning to return the Dinar to a previous level. Because the Dinar was once above three U.S. dollars to one Dinar, any return to those levels could be considered an RI. Hope this helps

I'm sorry but could someone explain to me what is the difference between and RV and RI?

Thank you!

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Hello Doc31, I thought that RI meant "reinstate" and that the Dinar had to be reinstated before it could be RV'd. Am I wrong? You post was very good and I thank you for it.

I have always been an RV guy ... mainly because of the following. When someone tells us that the IQD "sounds too good to be true" we always point them at Kuwait. But that's the last time we want to discuss Kuwait. However, to me, it's our template of sorts (yes, I know about Germany, etc. etc). And that is why RV makes sense to me. However, through posts on DV and elsewhere, I've heard 3 separate arguements for RI ... one mathematical, one from an economics standpoint (also mathematical), and one (almost) philosophical.

A week or so ago a post was made (on the NEWS side of DV) disclosing that Iraq's oil money, in it's entirety, was not being utilized for the good of Iraq but was being deposited in a bank in the US (New York I believe) at the rate of $1B - $6B per month and if you did the math on the time frame it was about 72 months worth which made their deposit (speculatively) a minimum of $72B. We also noted that the pipeline is on and pumping NOW and that they had increased barrel output etc. so we believed that it might even be higher than the $6B/month that was disclosed.

We went on to show, with the aforementioned math, how it WAS possible to RI ... supporting one of the above arguements ... speculative, mind you, but possible. We based our suppositions on the minimum of $72B. The problem was that we don't actually know how much is in that fund ... UNTIL NOW!

CAPTMED posted an article in NEWS today entitled "69th Session of UNCC Governing Council" with a link: http://www.uncc.ch/p...l/69%20open.pdf

The UNCC fields claims against those in Chapt 7. In this article it discusses how many claims were filed by individuals and countries against Iraq and what damages were actual (vs claimed) as determined by the UNCC. It tells what the total bill is, how much has been paid, and how it is being paid.

Now here is where it gets interesting. On page two of the document it discloses that $28.9B has been paid and that it is coming from the oil revenues at a prescribed rate of 5% of the oil revenues. With a little math utilizing ratios we can calculate that if $28.9B is 5% then there must be a 100% which is the figure that we were needing in the aforementioned discussion and that is HOW MUCH IS IN THE FUND IN NY?

And it is (mathematically) $578B

Folks, I'm not telling you that they are going to RI ... I'm telling you that since 90% of the IQD sold belongs to countries (calculated by a retired State Dept Economist and posted on the NEWS site) that by IMF law they are required to hold a percentage of their standard trade with Iraq (meaning that it won't be cashed in all at once, but utilized for trade, and still held as per the IMF requirement) and that only 10% is held by folks like us who probably would cash in on RI ... together with the tons of gold that will be released upon lifting of Chapt 7 ... RI is actually feasible.

Don't get me wrong I'm still an RV guy. Statistics tell me that 93% of the RV possibilities hit between $.86 and $2.10. That is simply too high to ignore. 60% of that at $.86 to $1.20. Another 21% between $1.21 and $1.86. and the last 12% between $1.87 and $2.10. Remember this though, as I always tell my IQD group that “that and $1.79 will get you a cup of coffee at 7/11!” IT”S JUST MY OPINION BASED ON NUMBERS (but it is pretty well sorted out).

My own personal favorite is whatever the EURO is trading for on the day it RV’s.

Last Novemeber when we got all excited …you remember, when we saw Baghdad bank rates set IQD at $1.49 for days during business hours. Guess what? That was the exact exchange rate of the USD vs EUR for those days! Today it is trading at $1.33. So, if it RV’d tomorrow my personal expectations would be $1.33. This would peg it superior to the dollar and even with the Euro (which many expect to be named the world’s next reserve currency if we don’t get our financial act together and quit printing money as per our new leadership … ahhhhh, I digress … and the European community gets Portugal, Greece and Spain straightened out or ousted). It would be a brilliant strategy placing it amidst the global currencies … above the Aussie’s and the Kiwis (which in my opinion it should be with it’s oil and agricultural prospects) … and well below the British Pound. It’s kind of a Goldilocks position. Not too high and not too low … just right.

Please don’t pretend that I’m foolish enough to wish for an RV over an RI. And please don’t shoot the messenger. I was just trying to tie two posts together and put some sense to all of this.

By the way many thanks to CAPTMED for his post to work off of.

Peace

Doc31

PS if you don’t agree … no need to bash … I realize it’s going to come out at what it’s going to come out at … and I will figure a way to ride it up higher still … just kicking around some numbers here and it’s why I changed the post to the rumor side of DV

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I'm sorry but could someone explain to me what is the difference between and RV and RI?

Thank you!

I may not be exactly correct on this - but my understanding is that RV - Revaluation of the Dinar, while RI - ReInstated value of the dinar meaning at the level before we Invaded Iraq - which was about 1 IQD = $3.21 USD

Am I correct......anyone?

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I may not be exactly correct on this - but my understanding is that RV - Revaluation of the Dinar, while RI - ReInstated value of the dinar meaning at the level before we Invaded Iraq - which was about 1 IQD = $3.21 USD

Am I correct......anyone?

Kitty Kat, that is my understanding. >^,,^<

Doc and Captmed thank you for your diligence.

Great explanation Doc!!!! :D

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Last Novemeber when we got all excited …you remember, when we saw Baghdad bank rates set IQD at $1.49 for days during business hours.

Thanks for the post. Can someone elaborate on the above past though? I have heard about this before. Was it ever debunked or ?

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