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Phoenix Update: October 3rd 2010

Phoenix

By Phoenix,
in Dinar Rumors

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Phoenix
Phoenix

Phoenix Update: October 3rd 2010 Well here were are....finally after months of waiting we get a solid announcement on the formation of the next Iraqi Government. As per my last update I have suspect

katy21
katy21

This is a hyped up rehashed version of your post last February...except you have added a bit more hype: "Novel solution," "Sound and effective," "Never been used by any nation before," Never before

katy21
katy21

Ya see...it is posts like this one that just xxxx me off....Speaking of clueless, I would really love to read your brief opinion on Iraqi monetary policy and Shabibis economic thoughts on avoiding th

quadraph0nic Newbie

quadraph0nic

Posted
Posted

Scooter, Phoenix

According to the article yakayaka posted in news

Iraq raises oil reserve estimate 24 pct

http://finance.yahoo.com/news/Iraq-raises-oil-reserve-apf-1870949299.html?x=0&.v=1

the reserves did not triple but it makes iraq #2 in oil reserves. saudi still #1.

Still good news. :)

I guess the process of keeping speculation down of this being a great return of an investment is working just fine!! :lol::lol:

yeah lol :lol: ...hopefully we are nearing critical mass. :D

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Dutch Boy Newbie

Dutch Boy

Posted
Posted

Maynard I think there is more going on behind the closed doors than we know and that things are further along and more agreed upon than it appears.

I personally feel that we would have never seen such strong statements from the U.S. Government and other world leaders congratulating Maliki and the nation of Iraq on his nomination if they knew or suspected the eventual outcome to be different.

I could see one world leader jumping the gun by speaking too soon but to see not only the U.S. but also many Arab nations send messages of congratulations speaks volumes to me.

So all in all no matter what may come out of the less than reliable Iraqi press I get the feeling everything is going to end well based upon the above observation and also many other positive indicators we have seen in the past few weeks.

IMHO

Phoenix

All major banks deal in foreign currency exchange every day and have done so for decades.

Many major banks deal in the Iraqi Dinar right now so all of the needed software is and has been in place and is up and running right now.

For the ones who now deal with the IQD all that will change is the rate.

For the ones that do not...that change is only one memo or e-mail notice away.

Phoenix

This is also true of smaller regional banks. Bank of Oklahoma (BOK) handles nearly all of the foreign currency exchanges for the Tulsa,OK area. Most other banks order through them. I was told they order for. cur. from a dealer in Florida, (my guess is B of A). I was able to purchase as little as $50 worth of IQD if I wanted. That makes it easier to stock pile!

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Dutch Boy Newbie

Dutch Boy

Posted
Posted

Ya see...it is posts like this one that just xxxx me off....Speaking of clueless, I would really love to

read your brief opinion on Iraqi monetary policy and Shabibis economic thoughts on avoiding the

dreaded "oil curse." Can you form an opinion of your own or do you run around with your nose up

guru xxxxxxxxxxx....Seriously.

From March-August 2010, Al-Shabibi stated emphatically on video interviews with the Wall Street Journal,

also posted on Reuters, Bloomberg and the BBC that the primary mandate for the CBI was price stability

and inflation control....This wasn't in some paper, this was right out of his Iraqi mouth. He went on to further

state that "Oil is not a domestic or employment activity, and therefore, monetary policy WOULD NOT be

based or tied to oil." You can also read for yourself that he stated that the current exchange rate (this was in August)

at 1170 was "REASONABLE"

Reported today....World Bank and IMF approved a 741 million dollar loan...IMF praised Iraq's efforts to rebuild economy.

Of course Shabibi says that Human & Physical infrastructure will be the growth initiatives that drive the economy of IRAQ.

It took FIVE months for this loan to be approved. I think this is odd for the riches country on the planet. Not only that,

but why doesn't Iraq fund their own projects? They can't....and secondly, with all the outstanding billions in loans,

they can't really appreciate or depreciate their currency without pissing off their investors....As Shabibi said, right now in this

rebuilding phase it is all about price STABILITY.

I would love to see an RV as much as the next person, but there just isn't anything from THE GOVERNMENT OF IRAQ that

suggests this as a near term possibility....If it was about to happen, every investing institution on the planet would be

buying Dinar by the boat loads and this in itself would drive up the price...But truth be told - IRAQ is NOT READY yet for

an appreciated RV....Speculation from forum folks doesn't make it so...........

So anyway...not to beat a dead horse, but this clueless xxxx is pretty well informed.

I would challenge you to find ONE official post (non speculative) initiated from an Iraqi institution that suggests they have ANY intentions to

appreciate their currency....AS a matter of fact, appreciating their currency is inflationary and runs contrary to the CBI's

stated primary mandate. You are nowhere even close....nothing but empty rehashed rhetoric....there are of course tons of papers

everywhere that suggest the POTENTIAL....but POTENTIAL and FACT in this case are miles apart. Someday perhaps, but not on the near horizon.

Clueless OUT!!!

"Speaking of clueless, I would really love to read your brief opinion..."

Hey Katy, do YOU know what "brief" means?

Read more:

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mrref Newbie

mrref

Posted
Posted

How could a time limit possibly be when all banks in the U.S. do NOT deal with the Dinar. It would take a month or two if not more to properly educate them about this. The only ones ready would be Ali and his crew. He could NEVER have enough time to deal with the volume of people that have Dinars to make any kind of time limit possible. This thing would need a YEAR to be done.

WHEN THE DINAR RV'S EVERY BANK IN THE USA IS GOING TO ACCEPT THE DINAR... :lol::lol::lol::lol: THE DINAR WILL BE CONSIDERED NATIONALLY ACCEPTED..

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Phoenix Newbie

Phoenix

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Iraq just announced today that they have 505 Billion barrels of oil in reserve!

505 Billion barrels times $80 per barrel = 404 TRILLION dollars!

$404,000,000,000,000

And that is just OIL!

There are estimates that the natural gas reserves in Iraq may even exceed the oil reserves in value!

Now THAT is some serious wealth!

Phoenix

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Crookednose23 Newbie

Crookednose23

Posted
Posted

Iraq just announced today that they have 505 Billion barrels of oil in reserve!

505 Billion barrels times $80 per barrel = 404 TRILLION dollars!

$404,000,000,000,000

And that is just OIL!

There are estimates that the natural gas reserves in Iraq may even exceed the oil reserves in value!

Now THAT is some serious wealth!

Phoenix

Looks good for the rv

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Inahurry Newbie

Inahurry

Posted
Posted

If it was about to happen, every investing institution on the planet would be

buying Dinar by the boat loads and this in itself would drive up the price.

Katy....I believe they already are wouldn't you say? CBI auction at 185 mil a day. What do you think these investors are buying (dinar or oil) or perhaps dinar backed by oil?

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Eddinar Newbie

Eddinar

Posted
Posted (edited)

Iraq just announced today that they have 505 Billion barrels of oil in reserve!

505 Billion barrels times $80 per barrel = 404 TRILLION dollars!

$404,000,000,000,000

And that is just OIL!

There are estimates that the natural gas reserves in Iraq may even exceed the oil reserves in value!

Now THAT is some serious wealth!

Phoenix

Phoenix, it's actually 40.4 Trillion dollars but still serious wealth especially with the natural gas....

Edited by Eddinar
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Phoenix Newbie

Phoenix

Posted
  • Author
Posted

Phoenix, it's actually 40.4 Trillion dollars but still serious wealth especially with the natural gas....

I stand corrected!

One too many zeros... :lol:

$40,400,000,000,000

Thanks Ed!~

And agree 40.4 Trillion in oil alone is STILL massive wealth!

Phoenix

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txgizmo Newbie

txgizmo

Posted
Posted

IF you add in the RESERVE supply to that mix it brings the grand total up even more.

143.1 Billion barrels of oil in reserves at $80 per barrel gives them an added $11.448 Trillion DOLLARS

So in all you are looking at a grand total of over $50 Trillion DOLLARS in just OIL ALONE!

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TekMan Newbie

TekMan

Posted
Posted

IF you add in the RESERVE supply to that mix it brings the grand total up even more.

143.1 Billion barrels of oil in reserves at $80 per barrel gives them an added $11.448 Trillion DOLLARS

So in all you are looking at a grand total of over $50 Trillion DOLLARS in just OIL ALONE!

And yeah that don't include the fuel oil that Kudistan is selling to Iran. As was seen last night on 60 Minutes the fuel trucks were lined up at the border between Iraq and Iran as far as the eye can see. It was unbelievable! Truck after truck full of fuel that our country fought to protect for the Iraqi's is going to our ENEMIES! ..... The Kurds are the only ones cashing in on this while the Iraqi's are living in poverty. INSANE!!!!!!!!!!!!!!

Also 40 ILLEGAL oil companies are pumping oil out of the gground there and have been for a while and selling on the black market.....pocketing the money for themselves.....not to the Iraqi's.

MAKES ME ANGRY... :angry:

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RICK C Newbie

RICK C

Posted
Posted

IF you add in the RESERVE supply to that mix it brings the grand total up even more.

143.1 Billion barrels of oil in reserves at $80 per barrel gives them an added $11.448 Trillion DOLLARS

So in all you are looking at a grand total of over $50 Trillion DOLLARS in just OIL ALONE!

I'LL TAKE IT I'LL TAKE IT,In $100.00 please. :)

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