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GameChanger

How could IQD RV at 1:1 with oil production???

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So, doing a bit of investigating (not sure if numbers are accurate because I got'm from the internet).  If there are 45 Trillion IQD in circulation and Iraq only holds 5 Trillion in country then why would they RV at 1:1? They would have a lot of value to cover.  Iraq is currently at max output capacity of 5 million barrels a day production.  5 million x 365 days a year = 1,569,500,000 barrels per year.  If oil reaches $60 a barrel then their revenue is $94,170,000,000/year. If you value their currency for a 20 year production which generates 1,883,400,000,000 (this is almost 1.9 trillion). A far cry from 40 Trillion. And I understand there could be many variables over the 20 years but I'm just say'n its a bit off to me.

 

I think the math is right but not sure if the numbers are right but they seem reasonable. Please help me understand what I'm missing.

 

Thanks 

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Don't forget that much of today's money is digital. Lets say you have a million Dollars in your bank account. Do you actually have that amount sitting in the vault? No, it's all on paper. Placed there by a few swipes on the keyboard. In fact very little money is exchanged these days. Buy a house, car, or boat, usually a check. Pay bills on line or over the phone, most likely credit card or electronic check. With these thoughts, lets say you walk into the bank with a million Dinar to exchange. Do they give you a million Dollars? No, they credit your account. It's there and it's not. Not an expert just my thoughts.

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Could be British pounds to dinar which is even more than USD. I suppose it could be a large number of other currencies but the numbers, I suspect are, not far off. 

 

Still hoping someone can apply some hard facts for the 1:1 usd argument. Thanks

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 GameChanger, this is how I see it;

 

96.5 Tons of Gold

$62 billion dollars in foreign currency reserves 

42 trillion dinar In circulation 

70% of 42 trillion in chunky cash = 29.4 trillion stashed under the mattress 

 

42 trillion IQD in circulation /1190 actual rate = $35.2 billion dollars in circulation 

$62 billion dollars in foreign currency reserves  / $35.2 billion dollars in circulation = $1.76

 

This is why the CBI said in a statement, “we can cover all the monetary mass by 170%”

 

 

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It's best at $1 for  1 Dinar or higher even $2 for one Dinar because yes it's a lot to pay back but it gives the buying power for products and contracts and if they go to $2 well $1 can go to repayments over next 30 years and Their $1 puts them on par with USA Dollar as buying power remember they wont see much of this cash in for about 5 to 10 years as banks will hold it and pay u and hope they make more money again on its value and IMF have guaranteed them the money I believe . They could even RV at $3 and comitt $1.50 them and $1.50  to payments gives them great buying power and restructuring  so I dont think that that's a problem. But if they RV at $0.50 even that could cause big problems with buying and contracts and payback. And take fir ever to get on top but the above figures I see much better for Iraq to built a better future. That's my view. Cheers 

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17 hours ago, wildeman said:

Namaste Laid Back, I like it. Thank you. Hopefully in the coming days...🙏

You’re welcome my friend wildeman

 

These are the reason why I believe in $1:1

- easiest way to dedollarize the country 

- easiest transition to the citizens 

- cheapest to rebuild the country 

- real purchasing power

 

Namaste 🙏🏼

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22 hours ago, Laid Back said:

This is why the CBI said in a statement, “we can cover all the monetary mass by 170%”

 

Thxs LB. When did CBI make this statement as I don't believe I have ever heard that before.

 

  pp

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1 hour ago, pokerplayer said:

 

Thxs LB. When did CBI make this statement as I don't believe I have ever heard that before.

 

  pp

Maybe this is it?

 

https://www.sotaliraq.com/2018/12/13/من-دون-حسد-العراق-من-الدول-الغنية-عالم/?fbclid=IwAR3y4dh9ilxbNGWOWZ2h9ql2p_oo96u7e-DT-JiAeyxyXOshXRhAOngGinQ

 

The governor of the Central Bank, the size of the Iraqi reserve of hard currency up to 60 billion dollars, and covers 170% of the size of the mass of local currency, the governor said in an interview published (Alsumaria News) The size of foreign currency reserve is always measured to the size of the mass Especially since the International Monetary Fund has recently developed a new standard which added the ability of the state to cover trade and debt repayment. He pointed out that the size of the monetary bloc is 44 trillion dinars, and Iraq is fourth in the ownership of US Treasury bonds and The reserve in the foreign currency reserve, and described the reserves of the Iraqi Central Bank of foreign currency as very comfortable within international classifications and is ahead of other countries, compared to the mass of cash offered by the local currency, and said the reserve is close to 60 billion dollars, so the Arab Monetary Fund considers Iraq from Countries that exaggerate the size of foreign exchange reserves.
On the issue of the currency of the category of 100 thousand dinars, he said that these ideas are traded by the Central Bank, but at the present time is pending, pointing out that there is a trend in some countries to reduce the categories of currencies so as not to be stored or counterfeited, the currencies of small groups may push the citizen to bid farewell to banks for difficulty The central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to consider the steps and a stable situation fully so as not to be exploited in the work of fraud and others, and announced the Central Bank of Iraq on July 12 this year Iraq has 89 tons A gold.
Is not it important in the statements and conversations is to mention the figures, but the important is to analyze and derive their data and results to be clear to all, is there a real need for the large monetary bloc, amounting to 44 trillion Iraqi dinars and in many categories if a large proportion of them hidden and out of circulation and did not constitute deposits from banks more From 10%, and the large cash mass cost large sums of money to print and transfer to Iraq because it is printed in a European country and every paper is the cost of paper and printing, especially as our currency is printed in a special paper and forms, colors and sizes of multiple and contain many signs of safety, And because they are banknotes are vulnerable to damage in the preservation and circulation so that the need to reprint large quantities of them during periods of time and this substitution is fraught with a lot of hearsay and signals similar to what is currently happening to the 7 billion dinars, which is under investigation and investigation, we mean that the large cash mass is not Is a positive sign in all cases, but it may be a reflection of the failure and mistrust in the government and private banking business because the citizen has not gained confidence from the banking business because of the lack of buildings, equipment and technologies and skills of working staff and delay in completing transactions so that may Not to mention the corruption and arbitrariness of the treatment of customers sometimes and the occurrence of some private banks violations reflected on the depositors and shareholders without taking firm action from the Iraqi Central, who did not take decisive decisions towards the banks of violation 10 years ago, and depositors did not recover Their money is never in the absence of the Deposit Protection Law, which we hear about, but it is still wishful thinking. While the banks of many countries have switched to automatic payment systems through Visa Card, Master Card and ATM and ATM, our system is still based on clearing. T may drag on for a week or more, as is required for the health of the breasts on certified instruments and full disruption during public holidays and pay the salaries of retirees once every two months indicates that we are not extend our bank Shubra to the imam, but we came back steps behind or we stayed bogged down, at least.
When talking about reserves of more than or less than $ 60 billion, one should not lose sight of the proportion of reserves of external loans and debt by sovereign or non-sovereign guarantees because the indebtedness is estimated at $ 120 billion or more of the type not subject to Paris Club adjustments. If the reserves are compared with revenues Oil (in the case of stopping the export of God forbid) and debt service and Treasury remittances Vali When reserves will survive after addiction to the window selling the dollar in the Central Bank of Iraq, which exceeds 150 million dollars a day under the title of coverage of Iraq's needs of goods and services, despite the wealth, Great sanctity The exchange rate, which does not change despite the variation that Iraq has experienced, and these prices currently amount to 120 thousand dinars per 100 dollars, although this figure is very far from the prices of the previous conversion (3 and 3) dollars per dinar and far from the prevailing prices (1184) dinars per dollar , And as some say if Iraq shared, his fury is limited to his ability to sell the dollar (dear) against the Iraqi dinar (which is not dealt with by some countries or never deal with a clear superiority) without effort and effort.
It is the right of every Iraqi to boast about the race's possession of the gold reserves of 89 tons, which makes Iraq ahead of the gold reserves, and the reason for our motivation to boast is that gold as they say in the popular words (adornment and safe) in the sense that would appear Iraq with a view The richness of Iraq is rich, but this wealth is like a woman who is charming with her beauty and femininity but hiding within her tons of pain and tragedy and feeling of despair and disappointment. What is the benefit of the large cash mass and its size and the percentages of cash reserves and the weight of gold and the saying of states that Iraq is overstating its reserves Every day he dies Hundreds and dozens of patients and the scarcity and loss of medicines and the high cost of health services and a million displaced people in the winter without shelter, food and clothing and the benefit of all this and one third of our people living below the poverty line and there are more than one million unemployed and non-oil sectors constitute 1% of the balance of payments and most sectors In agriculture, industry and housing almost paralyzed and there is a shortage of 4 million housing units and there are more than 2 million citizens rely on social welfare, which does not provide the minimum requirements for living and useful, and some of the remaining education is destroyed and spread unemployment, addiction and cannibalism and the number of those who stand in We do not want to mention single men, women, widows or widows with or without their dependents because they destroy tears. The significance of presenting these tragic situations is that the official must realize that the importance of his work and his words is not in And the world can not say what they say, including that we are the poorest country in the world because it is important that our people take the resources they deserve from the Creator, because it is useless to come out in the equations of calculation and standard we are from The rich of the world, while millions of bellies sleep from hunger, injustice and corruption, and this is not directed to anyone but to those who hold the responsibility regardless of their weight.
Bassel Abbas Khudair

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4 minutes ago, jb4388 said:

Maybe this is it?

 

https://www.sotaliraq.com/2018/12/13/من-دون-حسد-العراق-من-الدول-الغنية-عالم/?fbclid=IwAR3y4dh9ilxbNGWOWZ2h9ql2p_oo96u7e-DT-JiAeyxyXOshXRhAOngGinQ

 

The governor of the Central Bank, the size of the Iraqi reserve of hard currency up to 60 billion dollars, and covers 170% of the size of the mass of local currency, the governor said in an interview published (Alsumaria News) The size of foreign currency reserve is always measured to the size of the mass Especially since the International Monetary Fund has recently developed a new standard which added the ability of the state to cover trade and debt repayment. He pointed out that the size of the monetary bloc is 44 trillion dinars, and Iraq is fourth in the ownership of US Treasury bonds and The reserve in the foreign currency reserve, and described the reserves of the Iraqi Central Bank of foreign currency as very comfortable within international classifications and is ahead of other countries, compared to the mass of cash offered by the local currency, and said the reserve is close to 60 billion dollars, so the Arab Monetary Fund considers Iraq from Countries that exaggerate the size of foreign exchange reserves.
On the issue of the currency of the category of 100 thousand dinars, he said that these ideas are traded by the Central Bank, but at the present time is pending, pointing out that there is a trend in some countries to reduce the categories of currencies so as not to be stored or counterfeited, the currencies of small groups may push the citizen to bid farewell to banks for difficulty The central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to consider the steps and a stable situation fully so as not to be exploited in the work of fraud and others, and announced the Central Bank of Iraq on July 12 this year Iraq has 89 tons A gold.
Is not it important in the statements and conversations is to mention the figures, but the important is to analyze and derive their data and results to be clear to all, is there a real need for the large monetary bloc, amounting to 44 trillion Iraqi dinars and in many categories if a large proportion of them hidden and out of circulation and did not constitute deposits from banks more From 10%, and the large cash mass cost large sums of money to print and transfer to Iraq because it is printed in a European country and every paper is the cost of paper and printing, especially as our currency is printed in a special paper and forms, colors and sizes of multiple and contain many signs of safety, And because they are banknotes are vulnerable to damage in the preservation and circulation so that the need to reprint large quantities of them during periods of time and this substitution is fraught with a lot of hearsay and signals similar to what is currently happening to the 7 billion dinars, which is under investigation and investigation, we mean that the large cash mass is not Is a positive sign in all cases, but it may be a reflection of the failure and mistrust in the government and private banking business because the citizen has not gained confidence from the banking business because of the lack of buildings, equipment and technologies and skills of working staff and delay in completing transactions so that may Not to mention the corruption and arbitrariness of the treatment of customers sometimes and the occurrence of some private banks violations reflected on the depositors and shareholders without taking firm action from the Iraqi Central, who did not take decisive decisions towards the banks of violation 10 years ago, and depositors did not recover Their money is never in the absence of the Deposit Protection Law, which we hear about, but it is still wishful thinking. While the banks of many countries have switched to automatic payment systems through Visa Card, Master Card and ATM and ATM, our system is still based on clearing. T may drag on for a week or more, as is required for the health of the breasts on certified instruments and full disruption during public holidays and pay the salaries of retirees once every two months indicates that we are not extend our bank Shubra to the imam, but we came back steps behind or we stayed bogged down, at least.
When talking about reserves of more than or less than $ 60 billion, one should not lose sight of the proportion of reserves of external loans and debt by sovereign or non-sovereign guarantees because the indebtedness is estimated at $ 120 billion or more of the type not subject to Paris Club adjustments. If the reserves are compared with revenues Oil (in the case of stopping the export of God forbid) and debt service and Treasury remittances Vali When reserves will survive after addiction to the window selling the dollar in the Central Bank of Iraq, which exceeds 150 million dollars a day under the title of coverage of Iraq's needs of goods and services, despite the wealth, Great sanctity The exchange rate, which does not change despite the variation that Iraq has experienced, and these prices currently amount to 120 thousand dinars per 100 dollars, although this figure is very far from the prices of the previous conversion (3 and 3) dollars per dinar and far from the prevailing prices (1184) dinars per dollar , And as some say if Iraq shared, his fury is limited to his ability to sell the dollar (dear) against the Iraqi dinar (which is not dealt with by some countries or never deal with a clear superiority) without effort and effort.
It is the right of every Iraqi to boast about the race's possession of the gold reserves of 89 tons, which makes Iraq ahead of the gold reserves, and the reason for our motivation to boast is that gold as they say in the popular words (adornment and safe) in the sense that would appear Iraq with a view The richness of Iraq is rich, but this wealth is like a woman who is charming with her beauty and femininity but hiding within her tons of pain and tragedy and feeling of despair and disappointment. What is the benefit of the large cash mass and its size and the percentages of cash reserves and the weight of gold and the saying of states that Iraq is overstating its reserves Every day he dies Hundreds and dozens of patients and the scarcity and loss of medicines and the high cost of health services and a million displaced people in the winter without shelter, food and clothing and the benefit of all this and one third of our people living below the poverty line and there are more than one million unemployed and non-oil sectors constitute 1% of the balance of payments and most sectors In agriculture, industry and housing almost paralyzed and there is a shortage of 4 million housing units and there are more than 2 million citizens rely on social welfare, which does not provide the minimum requirements for living and useful, and some of the remaining education is destroyed and spread unemployment, addiction and cannibalism and the number of those who stand in We do not want to mention single men, women, widows or widows with or without their dependents because they destroy tears. The significance of presenting these tragic situations is that the official must realize that the importance of his work and his words is not in And the world can not say what they say, including that we are the poorest country in the world because it is important that our people take the resources they deserve from the Creator, because it is useless to come out in the equations of calculation and standard we are from The rich of the world, while millions of bellies sleep from hunger, injustice and corruption, and this is not directed to anyone but to those who hold the responsibility regardless of their weight.
Bassel Abbas Khudair

 

 

Thats awesome ! Thanks JB !!

 

  pp

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7 hours ago, pokerplayer said:

 

Thxs LB. When did CBI make this statement as I don't believe I have ever heard that before.

 

  pp

Thanks for your input pokerplayer.

I see jb4388 answered your question.

6 hours ago, jb4388 said:

Maybe this is it?

Thanks for the link jb 👍🏼

 

Go RV

Go 1+

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20 hours ago, pokerplayer said:

 

 

Thats awesome ! Thanks JB !!

 

  pp

 

14 hours ago, Laid Back said:

Thanks for your input pokerplayer.

I see jb4388 answered your question.

Thanks for the link jb 👍🏼

 

Go RV

Go 1+

I am a believer too in a 1 to 1. Why would you give up your dinar for a .05 when you know it will be more. 1 to 1 every citizen of Iraq will understand.  I am also watch for dollars to be dumped back into the market. My guess a few insiders will know something, this is Iraq. When you see them dumping dollars and buying dinar you will know the rate is over 1 to 1, else the two other scenarios play out. 

Edited by ChuckFinley
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10 hours ago, ChuckFinley said:

 

I am a believer too in a 1 to 1. Why would you give up your dinar for a .05 when you know it will be more. 1 to 1 every citizen of Iraq will understand.  I am also watch for dollars to be dumped back into the market. My guess a few insiders will know something, this is Iraq. When you see them dumping dollars and buying dinar you will know the rate is over 1 to 1, else the two other scenarios play out. 

Agreed my friend.

 

Go $1:1

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