Is there too much dinar in circulation to cash everyone out?

[cashman54]

Wondering what you guys thought of this guys post, he says there will be too much dinar in circulation to cash everyone out, this has me thinking

theiraqidinar.com/2011/06/17/big-jake-email-site-members-contrarian-perspective/

[flboy]

Good question !!! How much is to much Dinar in the market place ? What is the max about of Dinar outstanding before the house of cards collapses?

Just a thought.

[cashman54]

mods if you want, delete the link if it violates forum rules, it just made me wonder if there is a limited supply of dinar, or are they printing this currency like toilet paper being produced in factories?

[Gasketman]

It's electronic, your not going to be able to walk into your bank and walk out with $50,000.00 you can't do that now. You will cash in your dinar and they will credit your account for the funds, then the bank will turn the dinar into the federal reserve fr credit to their accounts. You didn't think the bank actually held all the cash of depositors? Most banks if you need more than 10,000.00 you have to order it a day in advance. I buy and sell cars and deal with Wells Fargo and always call a day in advance if I need cash for a deal.

[Froto]

It's electronic, ....

True but, all IQD is the liability of the CBI. The CBI's International Reserves currently back up about 100% of the money supply.

If there was an RV @ $0.01, Iraq total reserves would be wiped out if less than 1% of the IQD were cashed in.

[jmw]

It's electronic, your not going to be able to walk into your bank and walk out with $50,000.00 you can't do that now. You will cash in your dinar and they will credit your account for the funds, then the bank will turn the dinar into the federal reserve fr credit to their accounts. You didn't think the bank actually held all the cash of depositors? Most banks if you need more than 10,000.00 you have to order it a day in advance. I buy and sell cars and deal with Wells Fargo and always call a day in advance if I need cash for a deal.

Even if it is electronic...someone has to transfer it to your bank and they can't just create it from nothing...yes...there is too much in circulation...

[PacoTaco]

Do a search for fractional banking and you will have your answer. We are good though!

Go RV!!!!!!!!!!

[The Machine]

Do a search for fractional banking and you will have your answer. We are good though!

Go RV!!!!!!!!!!

exacyly what I was gonna say !!

[Luigi1]

Even if it is electronic...someone has to transfer it to your bank and they can't just create it from nothing...yes...there is too much in circulation...

Only a fraction compared to US Dollars in circulation around the world. Some countries are already trading in ID for oil. Us PetroDollars are on the way out.

[af4mi]

Again Luigi...pretty spot on. The only question remaining is WHEN or for HOW LONG.

[Luigi1]

Again Luigi...pretty spot on. The only question remaining is WHEN or for HOW LONG.

I believe by the end of this year. Almost 130 countries are up for RV by the WTO & IMF to avert trade wars & protectionism that could result in a global great depression. My gut feeling. The ID will RV by year's end. There will be thousands, not millions to be made. The ID will float against the Dollar at first to around 3 to 4 to 1. Over time the Iraqi economy will develop as will it's oil infrastructure thus strengthening the ID over the years & decades. In twenty years it may be 1 to 1 ratio but not right away. The Iraqi economy can't sustain that right now.

[coldwarvet]

I noticed that there was not one link offered in this thread to conclusively demonstrate how many IQD are in circulation. Do we REALLY know how many there are out there? NO!

So any estimate offered is opinion, and apparently not informed opinion at that.

[Dalite]

Good question !!! How much is to much Dinar in the market place ? What is the max about of Dinar outstanding before the house of cards collapses?

Just a thought.

The US has debt estimated to be 62 trillion and produces little or nothing ( unless you include inflation; our number one export).

Iraq has Something everyone needs, much of it still untapped, and it is already a tradable commodity.

Plus, as everyone else has tried to point out, the weekly margin call for on demand bank deposits is only 3%, and this has to be met at open of business only one day per week.

Banks keep very small reserves. $3.00 of every $100.00 on actual deposit is required to be at their disposal, and that requirement is only at start of business on each Friday. The other $97.00 can be lent to people who don't have jobs, to buy houses they can't afford, and we have to pay off with our tax dollars.

Banking is a very honorable industry that attempts to extract every available dime out of thin air, then earn interest on it well past the death of the borrower...

Perhaps there is too much Dinar at face value in print. This is probably the main reason the CBI has telegraphed Re-denomination for the last four or five years...

[af4mi]

Coldwar...while Dalite's answer is close to 100% accurate, the real, street-side answer is 'too much' for Shabs liking. The real question in my mind is "how long will it take for the big bills to be taken out of the public's pockets IN IRAQ. We don't have good information or an accurate way of determining that at present. That's why, in my mind, the majority of participants/investors are all over the place from an emotional standpoint. It appears most 'investors' considered this a sure-fire way to get out of a deep hole....they have/did not consider the purchase of Dinar a true investment of 'penny stock'. They bought the line that eventually was exposed as the lottery ticket syndrome.

[Legolas]

The US has debt estimated to be 62 trillion and produces little or nothing ( unless you include inflation; our number one export).

The U.S. produces almost nothing??? Are you kidding me? The U.S. GDP is $14.6 TRILLION Dollars - largest in the world. It is followed distantly by Japan at $5 Trillion, and China at $4 Trillion, with China rapidly overtaking Japan. We're still the largest producer in the world by more than 3X. Even in OIL, which is essentially Iraq's sole export, we produce 4X as much.

Edited June 18, 2011 by Legolas

[keepmwlknfny]

Only a fraction compared to US Dollars in circulation around the world. Some countries are already trading in ID for oil. Us PetroDollars are on the way out.

Who is trading ID for oil?? I know the future of the petrodollar is bleak to say the least, but I know its still being required at this point.....I know we wanna go after Iran since they are asking for euros for oil and Uncle Sam doesnt like that too much!!! Heck it was another motive for war against Iraq because Saddam was doing the same!!

On another note, yes, there is too much dinar in circulation for it to have a decent rise in value.....until the money supply is reduced, or the international reserves are built up nicely, I wouldnt expect much....

I noticed that there was not one link offered in this thread to conclusively demonstrate how many IQD are in circulation. Do we REALLY know how many there are out there? NO!

So any estimate offered is opinion, and apparently not informed opinion at that.

24 trillion outside the banks in physical currency as of Feb 2011.......you can probly get more updated numbers straight from the CBI as they have been posting them since like 2002 or something....

[Luigi1]

Coldwar...while Dalite's answer is close to 100% accurate, the real, street-side answer is 'too much' for Shabs liking. The real question in my mind is "how long will it take for the big bills to be taken out of the public's pockets IN IRAQ. We don't have good information or an accurate way of determining that at present. That's why, in my mind, the majority of participants/investors are all over the place from an emotional standpoint. It appears most 'investors' considered this a sure-fire way to get out of a deep hole....they have/did not consider the purchase of Dinar a true investment of 'penny stock'. They bought the line that eventually was exposed as the lottery ticket syndrome.

I believe those big bills will be recalled back to CBI after exchange & used for multi int'l deals. Some may be destroyed by CBI if too many do in fact exist. Just like in the USA, we have $10K, $100K & $1 Million notes used for multi corporate int'l transaction. Some of those bills are destroyed if the US Treasury believes too many exist for the current conditions. The ordinary citizen never sees those bills but they do exist.

Coldwar...while Dalite's answer is close to 100% accurate, the real, street-side answer is 'too much' for Shabs liking. The real question in my mind is "how long will it take for the big bills to be taken out of the public's pockets IN IRAQ. We don't have good information or an accurate way of determining that at present. That's why, in my mind, the majority of participants/investors are all over the place from an emotional standpoint. It appears most 'investors' considered this a sure-fire way to get out of a deep hole....they have/did not consider the purchase of Dinar a true investment of 'penny stock'. They bought the line that eventually was exposed as the lottery ticket syndrome.

I believe those big bills will be recalled back to CBI after exchange & used for multi int'l deals. Some may be destroyed by CBI if too many do in fact exist. Just like in the USA, we have $10K, $100K & $1 Million notes used for multi corporate int'l transaction. Some of those bills are destroyed if the US Treasury believes too many exist for the current conditions. The ordinary citizen never sees those bills but they do exist.

[Dalite]

The U.S. produces almost nothing??? Are you kidding me? The U.S. GDP is $14.6 TRILLION Dollars - largest in the world. It is followed distantly by Japan at $5 Trillion, and China at $4 Trillion, with China rapidly overtaking Japan. We're still the largest producer in the world by more than 3X. Even in OIL, which is essentially Iraq's sole export, we produce 4X as much.

By your admission, GDP is equal to national debt.

If I make a million, and spend a million, what did I put in the bank?

If I invest everything I produce, and end up with no decrease in what I owe, what did I save.

Perhaps you may want to think this over a little more.

We excel at producing inflation.

We are liable for the interest on the debt.

Obviously, it has to be serviced first, before we can benefit from any production.

Sorry, but I don't consider marking time to be forward progress...

[af4mi]

Legs, your info is old. And for the record, we don't make anything in this country compared to what we formerly made. This country has morphed into one big service center, not a hub of manufacturing as in the 'old day's'. Hence, while for another couple of years we are on top.....China will overtake us in GDP IF we don't change our ways.

While you are in the ballpark on oil....we COULD be the largest producer if the 'tree-huggers' weren't in the picture. We have, proven, the largest reserves in the world...Bakken, Anwar, etc..... AND, China is sailing tankers of Iraqi crude as we speak. Now, if we are going to stay in the game, we better get our 'A' game plan in writing and execute soon!

[Legolas]

The info is NOT old - it's 2010, and generally INCREASES by 2-3% annually, so the 2011 figures will likely be at least the same, or slightly higher. And the National Debt is an "accumulation" of debt over many years, not a single year, so debt is not exceeding production by any stretch of the imagination. We still produce more in one year than the total of the ND. I'm not saying we're in great shape. The entire WORLD economy is in serious trouble. That being said, the U.S. is still the #1 producer by a large margin. While we could produce a lot more oil, one of the primary reasons we do not is due to the fact that ours is much more difficult, and far more risky to retrieve, making it much more costly than M.E. oil. Consumers don't want to pay that price. Anyone who believes the Dinar is going to bail out the world economy is simply delusional.

Edited June 18, 2011 by Legolas

[keepmwlknfny]

Anyone who believes the Dinar is going to bail out the world economy is simply delusional.

I will have to agree on that note!!!

[af4mi]

Legs, we'll agree to disagee on the.GDP thing, and to a point you are correct on the oil, you are RIGHT ON TARGET with your last sentence........

What you're not considering that there is some private drilling going on in the Dakotas and MT, on private land. Yes there are cost considerations, but with 4-dollar gas...it's in the ballpark or close and technology has improved to pull it out of the ground for around 3.50-4.00' to the consumer. All we really have to do is hush the tree-huggers, then start to drill on a large scale. O, BTW, that's IF you can get the current Sec of Interior to approve the permits.

[Dalite]

The info is NOT old - it's 2010, and generally INCREASES by 2-3% annually, so the 2011 figures will likely be at least the same, or slightly higher. And the National Debt is an "accumulation" of debt over many years, not a single year, so debt is not exceeding production by any stretch of the imagination. We still produce more in one year than the total of the ND. I'm not saying we're in great shape. The entire WORLD economy is in serious trouble. That being said, the U.S. is still the #1 producer by a large margin. While we could produce a lot more oil, one of the primary reasons we do not is due to the fact that ours is much more difficult, and far more risky to retrieve, making it much more costly than M.E. oil. Consumers don't want to pay that price. Anyone who believes the Dinar is going to bail out the world economy is simply delusional.

I have no belief whatsoever that there is a molecule's worth of validity in the claims that the Dinar will bail out the world economy.

It may provide a small blip on the US debt service radar, as it gathers taxes, and any profits are spent ( or loaned) into the US economy.

I an not a follower of Keyes view of economic expansion, but I realize that there are many economists that see Keynesian Economics as a religion.

To me, it is simple, honest and tangible. A debt is to be paid, an asset has value and a liability upsets the balance.

In a debt- based economic system, like the Us, the only way to show economic growth is to go deeper in debt.

I, my opinion only, do not view going progressively backwards as being productive. As long as the debt is increasing, the productivity has not been sufficient. To me, productivity begins when the debt starts decreasing and we start going positive.

Sorry, it may be a personality flaw on my part, but I just can't view destroying the future of our offspring as being productive.

Another character flaw of mine... I would defend your right to claim going deeper in debt is productive, with my blood; if necessary...

I do believe in the freedom that allows discourse and diversity of ideas...

[radar12354]

Wondering what you guys thought of this guys post, he says there will be too much dinar in circulation to cash everyone out, this has me thinking

theiraqidinar.com/2011/06/17/big-jake-email-site-members-contrarian-perspective/

Imo, I think what we will find is most not all monies are owned by governments......which in turn will cash you out not Iraq.....the governments can afford to have reserves full of Iraq dinar(for oil)...........just saying

[Froto]

I noticed that there was not one link offered in this thread to conclusively demonstrate how many IQD are in circulation. Do we REALLY know how many there are out there? NO!

So any estimate offered is opinion, and apparently not informed opinion at that.

Sorry, but I get my info from the independently audited, IMF Country Reports. Sorry we can't come up with a more informed "opinion" for you.

Do a search for fractional banking and you will have your answer. We are good though!

Go RV!!!!!!!!!!

exacyly what I was gonna say !!

Fractional banking. How easy. While countries like the U.S. can get by on slim reserves or just "good faith", a country like war torn Iraq needs a very healthy reserve. An RV @ $1.00 would result in Iraq backing up less than one-tenth of one percent of the money supply. Exactly how would that go over on the international markets. And please don't respond how Iraq is going to be giving away their oil for decades to back it up.