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Have they RV'd already in Iraq


wingsofhope
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Very interesting, 10 trillion Dinars = 32 trillion Dinars in the plublic sector.............OH I see when the public sector buys a house for 100,000.00 Dinars and they have 20% down at 8% intrest and owe 80%, means the bank will make out well with the amount they borrowed from the central bank of Iraq at 4% intrest. The amount public borrows is 80% or 80,000.00 Dinars, which they make payments to the bank or CBI. So does that mean 10 trillion can be streched out over time with all the intrest to = 32 trillion Dinars?

A house bought over 20 years can cost a person around two to three times the original amount with all the intrest.

HOPE NOT! IRAQ Dinar - 3.22 = $1.00 United States Dollar GORVing :tiphat:

Edited by dinardarius
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( Thursday, January 27th 2011 7:58 PM ) before the meeting of ministeries today.

Central Bank Calls on the Government to Take Advantage of Deposits Banks Instead of Borrowing From

Central Bank of Iraq, Saturday, develop a plan for the Iraqi government was able to take advantage of the surplus in cash deposits held in banks rather than government borrowing from him, stating that the surplus is estimated at 32 trillion Iraqi dinars.

The bank adviser said the appearance of Mohammed in an interview for “Alsumaria News”, “The central bank plan makes it easier for the government to use surplus cash deposits in government banks, instead of borrowing from the central bank.”

Saleh pointed out that “the state has cash deposits in these banks is estimated at 32 trillion Iraqi dinars,” noting that “that deposits in excess and should take advantage of them, and be recycled in the fiscal budget for 2011 to provide financial liquidity to cover the fiscal deficit.”

It was the Iraqi Central Bank refused to lend to the Iraqi government the amount of five billion dollars of reserve funds to meet the shortfall in the budget, they returned the move as illegal and in violation of the independence, where law prohibits the government from imposing its policies on the Iraqi Central Bank.

He explained that the appearance of “The Central Bank has taken steps to allow the government to be used this liquidity through borrowing by allowing these banks to the acquisition of monetary policy tools.”

The Federal Supreme Court issued a decision in January 18 this provides a link independent bodies, including the central bank, headed by Prime Minister directly, not under the chairmanship of the House of Representatives, and the decision came following a request by the Office of the Prime Minister to the Federal Court on the second of December of the year the past, to show a link, which raised a controversy between Aladbd from political circles in Iraq.

As the Supreme Judicial Council affirmed that the decisions of the Constitutional Court are binding on all authorities may not appeal any of them, or dissolve the court and re-appointment of other people, pointing out that every party to consider any decision rendered by the Federal Court from the perspective of partisan or personal interests

http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&tl=en&u=http://www.alsumarianews.com/ar/3/16636/news-details-.html&rurl=translate.google.com&twu=1&usg=ALkJrhhZAwoB2_csj2IahVjLKuJLtsUTgg

Between the 2 articals, because the Prime Minister Miliki put the CBI under government and ministries sanction, (which violates code 103 and 104 of the iraqi constitution) and not the parlimate (which would have let it stay privatley owned) he has the power of its assets. The 32trillion DINARS not DoLLARS is what is in there reserves. Because Miliki has the power over the CBI, he "borrowed" 10 trillion DINAR against his 32 trillion DINAR (collatiral) No rates or revales are happening.

Keep in mind people, I like to keep a positive view on things, but thats where it ends. I rely on judgement to make a choice. Realize that there are scammers on these posts and people will take factual information (the ones who prospare from this, like dinar deallers) and change a couple of words, post it and make a fuss about it,. Inturn that causes sales to go up (Dinar Deallers). Marketing 101.

Edited by CountryFried
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Thanks for sharing

Looks like they are borrowing 10 tril dinars from the available dep of 32 tril dinars.

Think they made a mistake of say 32 trill Dollars, they meant to say 32 trill Dinars. Or they just want play trick on us. Remember GOI has control over the media. I doubt it's the RV rate.

I hope I am wrong..Go RV..

  • Upvote 1
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Go ahead, stir it up! You are right ...... and one of the few to see it.

Everyone seems to be reading dinar versus dinar or dollars versus dollars when it is not ... it is one amount in dinar, and another in dollars, and with that teeny tiny little clue one can extrapolate the rate they are using to get where they are in their thinking.

*sigh*

Thank you for the opportunity to try to get that point across again.

smee2

Sarcasm wasn't necessary, it wasn't like the article was crystal clear. It should have elaborated a little more on why they used dollars on the second figure instead of dinar like the first. I didn't think it happened at all, but nobody likes being talked down to, so why waste your time trying to make somebody feel a little bad for not getting it?

Maybe I'm just too tired and read it wrong, and if so then I'm sorry, if I'm not then don't be so pompous next time you contribute to somebody trying to bring something to the table. Nearly everybody else on here was mislead as well, so it isn't like he misunderstood something that was extremely spelled out by himself like you make it sound.

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Very interesting, 10 trillion Dinars = 32 trillion Dinars in the plublic sector.............OH I see when the public sector buys a house for 100,000.00 Dinars and they have 20% down at 8% intrest and owe 80%, means the bank will make out well with the amount they borrowed from the central bank of Iraq at 4% intrest. The amount public borrows is 80% or 80,000.00 Dinars, which they make payments to the bank or CBI. So does that mean 10 trillion can be streched out over time with all the intrest to = 32 trillion Dinars?

A house bought over 20 years can cost a person around two to three times the original amount with all the intrest.

HOPE NOT! IRAQ Dinar - 3.22 = $1.00 United States Dollar GORVing tip_hat.gif

You gotta read some of the posts about fractional banking .

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If its 10 trillion dinars out of 32 trillion dinars then they are using only 1/3 of their money . If it's 10 trillion dinar from 32 trillion dollars then they aren't even putting a dent in their money. Doesn't have a thing to do with RV and doesn't say anything about 10 = 32. This just shows you how eager everyone is to get this over. People are starting to see things that aren't there. Get away from the post for a few minutes and then come back and re read the begining. I'll bet it sounds different.

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So Joe, if that were the case why wouldn't they say they are borrowing 10 trillion dinars from their 32 trillion dinar accounts? They specifically say Iraq Dinars and Dollars

I don't understand why they are borrowing 10 trillion dinars when they already have 32 trillion in assets?

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To Gman51

If you wanted to buy a new car, or fix that deck in your back yard, would you spend all of your own money and risk the chance of spending it all and wiping out your bank account? Or would you get a loan and use someone elses money and keep yours safe?

Plus, if they dont have any money or use all the money in reserves, they would have to start looking towards other titles such as, departments, buildings, land, (ect.) as collateral.

That is most likely the reason why they are using someone elses money and not there own. Hope that answers your question.

RV in 4months or less.:)

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How do you figure 4 months or less? Just curious :)

Its speculation and this isnt the place to talk about it, but with the growing economy GDP expected to be around 10% ahead and the unemployment rate going down bellow 9% and falling, with all but a few seats filled in the government and rising oil production (main source of income) at over 2.2 million barrels a day and expected to be over 3 mill by the end of the year, and with the kurds coming to understandings with the GOI they are at a point( if things stay on tract and dont get flushed down the tube) where the next step is to figure out what the new value will be. Plus with recent uprising and protests in Egypt, the GOI is smart enough to know that the same can happen to them when you try and dictate there lives. They know that if they dont get the ball rolling that a riot could very well happen to them.

Just a few bits of information and there is much much more, but it seems to me things are going in the right direction for the revaluation of the dinar.

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