Has Iraq printed too much currency???

[bigd1619]

After reading the thread about the Dinar being too commercialized I thought this......Did Iraq print too much money? Or in other words, do you think that it is possible that Iraq printed more currency than they can handle? I don't believe that a country who is introducing a new currency would print so much currency that they could not ever cover once they RV. But, on the flip side this would fuel those of you who believe that 2 or 3 zeros could drop off of the end of the number. Now, I know it is Iraq, I know, but do you really think they didn't have ANY plan of how this new currency would revalue, and IF they EVER would have enough reserves (oil) to cover what they were printing? I am curious to see your thoughts.

[Muhammad]

No way that their IQD has flooded the whole world. Who would be able to sell IQD to the whole world by container shipping since 2004? And surprisingly, we went around in many other countries not long ago where their numerous local bankers and Muslim licensed money-changers didn't hear about IQD when we asked for it. CBI couldn't keep printing IQD without restriction to the limit for fiscal year they needed to assess and audit the annual budget's accounts for those many donkey years when PM Maliki took power in 2006. This is just a propaganda!

[igniteassoc]

After reading the thread about the Dinar being too commercialized I thought this......Did Iraq print too much money? Or in other words, do you think that it is possible that Iraq printed more currency than they can handle? I don't believe that a country who is introducing a new currency would print so much currency that they could not ever cover once they RV. But, on the flip side this would fuel those of you who believe that 2 or 3 zeros could drop off of the end of the number. Now, I know it is Iraq, I know, but do you really think they didn't have ANY plan of how this new currency would revalue, and IF they EVER would have enough reserves (oil) to cover what they were printing? I am curious to see your thoughts.

LMAO.....this is not a game. We are talking about a country with some of largest proven "energy" reserves on the planet, liberated by a world super power. They know exactly how many they printed and probably about where most of them are.

[bigd1619]

Thats exactly what I am saying. I may have worded my post wrong. I was more looking for affirmation that no matter what the rate is, Iraq WILL be able to handle it. Even if they lol decide 4+ lol. Just tired of the lop talk, and people that say it is impossible for 3+ to usd.

[War Eagle]

IraQ printed 9 BILLION dollars of dinars in 2003 at the rate of 2000-1,or 18 TRILLION dinars.To my knowledge they have not printed anymore.Their financial system is such they can NOT print money like the US can.I have not read or heard of De La Rue printing any more for them.They know EXACTLY how much is in circulation and Shabibi is a very brilliant man.He knows what he is doing (unlike maliki,and the rest of the dumba----s in parliament).IMHO

[karen]

seems to me if they want the iraqi's to be happy with their new goverment they will ri even though saddam set the old rate. if i had xxx dollars, we had war, new gov. then years later it revalues and now i have x dollars, well ............ i'd be pixxxd. and if i'm pixxed you could times that by a few million people. just my common sense talking to me, but..... as someone says.....i know nothing, JOM.

[Traconesu02]

Thanks for the post! I believe you are correct in that Iraq can not make any more of this money. Only what was made in 2003. Why I think that is correct. I was looking at the picture of the Iraq dinar in the Well Fargo Foreign currency book and one of the requirements has the date of Oct/15th, 2003. Even though I do not see any date on my 25k Dinar.

[Kent]

LMAO.....this is not a game. We are talking about a country with some of largest proven "energy" reserves on the planet, liberated by a world super power. They know exactly how many they printed and probably about where most of them are.

If you don't mind, let me challenge your logic by comparing to the largest, most oil rich gulf region economy. Look at the Gross Domestic Product of Saudi Arabia http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&idim=country:SAU&dl=en&hl=en&q=Saudi+Arabia+Gross+Domestic+Product $468 Billion US. - obviously a mature, oil rich nation with a very stable government. Their M3 Money Supply is less than 1Trillion http://www.encyclopedia.com/doc/1G1-197458666.html.

Iraq has 43 Trillion Dinar in M2 money supply and a current $100Billion DOLLAR GDP. $1 RV converts Iraq's money supply to 43 TRILLION DOLLARS. IMO it is naive to simply say they have the largest energy reserves on the planet and it will pay for a big RV. Just food for thought.

[jocko129]

Not every one will cash in at the time`there are goverments dinar holders that will pay future oil purchases with reval dinar!!!!!!

[frost bit]

The dinar we have in the U.S. is printed with the dinar denomination in english, in numerical form and written form, and "Central Bank of Iraq" is in english. It would be my guess that dinars within Iraq isn't printed in any language other than their own. I don't know about the dinar being acquired by other countries, U.K., China, etc. having denomination and bank name printed in that country's language. I assume they are. That being said, the Central Bank of Iraq knows not only what was printed, but what countries, at least outside of the Middle East, have the currency and how much of it they have. I also believe that much of the dinar in these countries are being held by that country's treasury department and may be a means by which they are able to be repaid for Iraq's indebtedness to them. JMO

[dinarded]

If you don't mind, let me challenge your logic by comparing to the largest, most oil rich gulf region economy. Look at the Gross Domestic Product of Saudi Arabia http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&idim=country:SAU&dl=en&hl=en&q=Saudi+Arabia+Gross+Domestic+Product $468 Billion US. - obviously a mature, oil rich nation with a very stable government. Their M3 Money Supply is less than 1Trillion http://www.encyclopedia.com/doc/1G1-197458666.html.

Iraq has 43 Trillion Dinar in M2 money supply and a current $100Billion DOLLAR GDP. $1 RV converts Iraq's money supply to 43 TRILLION DOLLARS. IMO it is naive to simply say they have the largest energy reserves on the planet and it will pay for a big RV. Just food for thought.

Finally! Someone else that sees the reality of the situation. Thanks for the post!

[Charles45]

The dinar we have in the U.S. is printed with the dinar denomination in english, in numerical form and written form, and "Central Bank of Iraq" is in english. It would be my guess that dinars within Iraq isn't printed in any language other than their own. I don't know about the dinar being acquired by other countries, U.K., China, etc. having denomination and bank name printed in that country's language. I assume they are. That being said, the Central Bank of Iraq knows not only what was printed, but what countries, at least outside of the Middle East, have the currency and how much of it they have. I also believe that much of the dinar in these countries are being held by that country's treasury department and may be a means by which they are able to be repaid for Iraq's indebtedness to them. JMO

I'm not sure where this info came from,. but,. I am in Iraq and I can assure you that "ALL" IQD

is the same here as it is elsewhere....UK,. Kuwait,. America and Iraq. I'm not trying to be

mean,. just letting you know.

[Charles45]

After reading the thread about the Dinar being too commercialized I thought this......Did Iraq print too much money? Or in other words, do you think that it is possible that Iraq printed more currency than they can handle? I don't believe that a country who is introducing a new currency would print so much currency that they could not ever cover once they RV. But, on the flip side this would fuel those of you who believe that 2 or 3 zeros could drop off of the end of the number. Now, I know it is Iraq, I know, but do you really think they didn't have ANY plan of how this new currency would revalue, and IF they EVER would have enough reserves (oil) to cover what they were printing? I am curious to see your thoughts.

We can avoid this topic and allow our emotions to ignore any and all possibilities,. or, we can

put all information on the table and look at it for what it really is,(be it RV or LOP or LOP/RV).

My own personal concern comes from the 2008 artical that claims they will LOP 3 zero's and it

would take 2 years,...Here we are 2 years later and the ERM is a hot topic,.. Makes one think!!

I believe it is obvious to all of us that there has to be a new currency,..ie,..lower denominations.

Therefore,. would they decide to LOP/RV in the process??

SOS gave an awsome arguement that explains how it is not possible to know the true value

of the dinar because all of the indicators are not known. Under Chapter7 they are not able to

import/export freely.

Kent points out that the "current" aggragates reveals a serious situation that is not easily

explained away. We can guess that each country would handle a cash in and then

hold for future oil purchases,. That sounds plausible to me, but,. I'm haunted by that 2008

article that has an advisor for the CBI stating that they will drop 3 zero's from the currency and

it taking 2 years.?? IF it is all planned out as some suggest,. could part of that plan include

limiting speculation on the currency by using a LOP?? I wish I knew,...I just think we should

avoid getting angry when we run out of answers and face it in a mature/responsible manor and

hopefully gain more insight. (JMHO).

[Kent]

IraQ printed 9 BILLION dollars of dinars in 2003 at the rate of 2000-1,or 18 TRILLION dinars.To my knowledge they have not printed anymore.Their financial system is such they can NOT print money like the US can.I have not read or heard of De La Rue printing any more for them.They know EXACTLY how much is in circulation and Shabibi is a very brilliant man.He knows what he is doing (unlike maliki,and the rest of the dumba----s in parliament).IMHO

War Eagle, I agree with you that they know exactly what's out there, but I am thinking they must have printed more. The CBI showed currency outside of banks to be 21,306,000,000 Nov '09

http://www.cbi.iq/xl&wr/key%20financial.xls

If you think about it, the life expectancy of a paper bill is pretty short (wicki says one of our dollar bills only lasts 12-18 months before it has to be replaced and that matches with what my wife remembered from touring a local currency printing plant). They would have to have a lot more printed - just not put in circulation.

[tlar]

the us treasury printed the dinar under contract at a cost of $80 million dollars. It is important to note that Geo bush and Carl Rove were at the helm when this reprinting of the currency took place. Anybody with more than a passing interest ask your questions. Be sure you want to know the answer.

[Earnest T Bass]

Let's think logically here. 1.) Is it not strange that a war torn country went only as high as 25,000 notes where others usually start at 500,000 and 100,000 units? 2.) Then there is the fact it is 25 and not a nice round figure. Either someone is a nut job or there is a "plan" at work here.

After reading the thread about the Dinar being too commercialized I thought this......Did Iraq print too much money? Or in other words, do you think that it is possible that Iraq printed more currency than they can handle? I don't believe that a country who is introducing a new currency would print so much currency that they could not ever cover once they RV. But, on the flip side this would fuel those of you who believe that 2 or 3 zeros could drop off of the end of the number. Now, I know it is Iraq, I know, but do you really think they didn't have ANY plan of how this new currency would revalue, and IF they EVER would have enough reserves (oil) to cover what they were printing? I am curious to see your thoughts.

[dinarded]

And doesn't anyone think it strange that the CBI advertises the 25,000 Dinar Note as the header of it's web page??

[netinfo]

The dinar we have in the U.S. is printed with the dinar denomination in english, in numerical form and written form, and "Central Bank of Iraq" is in english. It would be my guess that dinars within Iraq isn't printed in any language other than their own. I don't know about the dinar being acquired by other countries, U.K., China, etc. having denomination and bank name printed in that country's language. I assume they are. That being said, the Central Bank of Iraq knows not only what was printed, but what countries, at least outside of the Middle East, have the currency and how much of it they have. I also believe that much of the dinar in these countries are being held by that country's treasury department and may be a means by which they are able to be repaid for Iraq's indebtedness to them. JMO

The Dinar is the same everywhere in the world, one side is in Arabic and the other side in English.

netinfo

[spurgen]

english,arabic---- it's still pretty money....

[Dryden01]

Perhaps there is some difference between how much they printed, how much is in circulation, and how much they keep in reserve? Does anyone really know the answer?

[igniteassoc]

If you don't mind, let me challenge your logic by comparing to the largest, most oil rich gulf region economy. Look at the Gross Domestic Product of Saudi Arabia http://www.google.com/publicdata?ds=wb-wdi&met=ny_gdp_mktp_cd&idim=country:SAU&dl=en&hl=en&q=Saudi+Arabia+Gross+Domestic+Product $468 Billion US. - obviously a mature, oil rich nation with a very stable government. Their M3 Money Supply is less than 1Trillion http://www.encyclopedia.com/doc/1G1-197458666.html.

Iraq has 43 Trillion Dinar in M2 money supply and a current $100Billion DOLLAR GDP. $1 RV converts Iraq's money supply to 43 TRILLION DOLLARS. IMO it is naive to simply say they have the largest energy reserves on the planet and it will pay for a big RV. Just food for thought.

I did not say anything about RV rates, but you cannot compare Iraq to Saudi in anything except their oil POTENTIAL. A huge amount of dinar is printed that is NOT in circulation yet. That is the small denomination bills that HAD to be planned for. Also remember that Iraq will reduce their currency in circulation VIA the RV and pull huge amounts of dinar back in as we cash out. The larger the RV, the more "contraction" of the money supply AND more importantly that RV rate will be a VISIBLE signal to the world, how much potential the IMF, UN (world) feels they have. My whole point was that NONE of this happening haphazardly, every bit of this is well orchestrated and has been planned for years. The only variables that have affected this are issues that have affected timing, but the overall objectives are set in stone and Iraq is a pawn until it grows its own two feet and takes control of its destiny. Bank on it......I did.