Evidence of the US holding large amounts of IDQ??

[keepmwlknfny]

The notion that the US is holding massive amounts of IDQ, waiting for Iraq to RV so they can cash it out and pay the US debt has been passed around these forums for years it seems....

But yet, no one has been able to come forth with any sort of evidence supporting this idea.......EVER.......

And of course for the ones that know me, I wanna get to the bottom of this since it seems like this is one of the arguments for why this RV has to happen.....Now before you start assuming what my motives are, its NOT to discredit this investment...I believe full heartedly in this....just wanted to clear up something that I felt was just a myth that sounded great, something to solidify this investment into making everyone rich beyond their dreams without a doubt! Cause we all know the thought process that if our US govt holds it, there must be something going on right??

Well I think I MIGHT have found something that probly gave people the wrong idea.....or actually, another thing that the gurus twisted around into meaning something it doesnt.....Just like they did with the whole "Removing of excess liquidity" that suddenly meant that 70% of the currency in circulation was removed

This bit of info basically states that Iraq DID in fact deposit money into the Federal Reserve.....and it sounds like it was just USD (not even IDQ) because they got this reserve money from currency transactions since the IDQ was introduced....now this money was deposited for the purpose of gaining interest to help Iraq....and might I add quite a hefty chunk of change each year (100 million).....So its not even the property of the US govt, or the reserve.....It is Iraqs.....

So back to the main point......where did this idea or "myth" come from?? Where could they have gotten this idea?? Can anyone shed any light on this subject? Maybe have some actual proof to show that the UST holds massive amounts of dinar?? I know there is tons of hearsay, but you know that wont hold any water with me (no offense).....I honestly believe the gurus took this article and either didnt understand what it was saying, or just purposely twisted it around to have some kind of "solid news" to share with their followers......

Iraq Deposits Five Billion Dollars with US Federal Reserve

AFP | February 8, 2005

BAGHDAD - The Iraqi central bank has built up five billion dollars in reserves in recent months which have been deposited with the US Federal Reserve, a top US treasury official said Tuesday.

The sum will earn the Iraqi government about 100 million dollars of much needed interest each year, John Taylor, US treasury under secretary for international affairs, told a press conference after talks with Iraqi officials.

The money has been placed with the Federal Reserve Bank of New York.

Taylor said the five billion dollars had built up from the currency transactions since the introduction of the new Iraqi dinar.

He said he had discussed the importance of improving Iraq's banking system by developing electronic payments -- Iraqis still rely heavily on cash -- and to help the private sector to borrow money.

Iraqi authorities also had to set up financing for housing mortgages, he

added.

While acknowledging Iraq's security troubles, Taylor said there was much to be "optimistic" about in the country's economy with more signs of activity since the country's January 30 election.

"There is a lot of economic activity that you can see just by driving around the streets," said the official, who told reporters he had not been confined to the high-security Green Zone while in Baghdad.

"The necessary economic and political foundations are taking root to ensure Iraq's prosperity," he said.

[Solarcloud]

Gotta love when cowards give you -1 and don't reply why. Here's +1 to you for your research and contribution/opinion!

Thanks

[bright]

thanks for clearing some things up........it looks like the foundations have come along slowly since 2005 in regards to the last sentence of your post.....

[Old Guy]

The notion that the US is holding massive amounts of IDQ, waiting for Iraq to RV so they can cash it out and pay the US debt has been passed around these forums for years it seems....

But yet, no one has been able to come forth with any sort of evidence supporting this idea.......EVER.......

And of course for the ones that know me, I wanna get to the bottom of this since it seems like this is one of the arguments for why this RV has to happen.....Now before you start assuming what my motives are, its NOT to discredit this investment...I believe full heartedly in this....just wanted to clear up something that I felt was just a myth that sounded great, something to solidify this investment into making everyone rich beyond their dreams without a doubt! Cause we all know the thought process that if our US govt holds it, there must be something going on right??

Well I think I MIGHT have found something that probly gave people the wrong idea.....or actually, another thing that the gurus twisted around into meaning something it doesnt.....Just like they did with the whole "Removing of excess liquidity" that suddenly meant that 70% of the currency in circulation was removed

This bit of info basically states that Iraq DID in fact deposit money into the Federal Reserve.....and it sounds like it was just USD (not even IDQ) because they got this reserve money from currency transactions since the IDQ was introduced....now this money was deposited for the purpose of gaining interest to help Iraq....and might I add quite a hefty chunk of change each year (100 million).....So its not even the property of the US govt, or the reserve.....It is Iraqs.....

So back to the main point......where did this idea or "myth" come from?? Where could they have gotten this idea?? Can anyone shed any light on this subject? Maybe have some actual proof to show that the UST holds massive amounts of dinar?? I know there is tons of hearsay, but you know that wont hold any water with me (no offense).....I honestly believe the gurus took this article and either didnt understand what it was saying, or just purposely twisted it around to have some kind of "solid news" to share with their followers......

Iraq Deposits Five Billion Dollars with US Federal Reserve

AFP | February 8, 2005

BAGHDAD - The Iraqi central bank has built up five billion dollars in reserves in recent months which have been deposited with the US Federal Reserve, a top US treasury official said Tuesday.

The sum will earn the Iraqi government about 100 million dollars of much needed interest each year, John Taylor, US treasury under secretary for international affairs, told a press conference after talks with Iraqi officials.

The money has been placed with the Federal Reserve Bank of New York.

Taylor said the five billion dollars had built up from the currency transactions since the introduction of the new Iraqi dinar.

He said he had discussed the importance of improving Iraq's banking system by developing electronic payments -- Iraqis still rely heavily on cash -- and to help the private sector to borrow money.

Iraqi authorities also had to set up financing for housing mortgages, he

added.

While acknowledging Iraq's security troubles, Taylor said there was much to be "optimistic" about in the country's economy with more signs of activity since the country's January 30 election.

"There is a lot of economic activity that you can see just by driving around the streets," said the official, who told reporters he had not been confined to the high-security Green Zone while in Baghdad.

"The necessary economic and political foundations are taking root to ensure Iraq's prosperity," he said.

Rest assured that a portion of that 5 billion dollars they deposited was from we investors buying Dinars !

Good Things To All !

Edited June 26, 2011 by Old Guy

[keepmwlknfny]

Gotta love when cowards give you -1 and don't reply why. Here's +1 to you for your research and contribution/opinion!

Thanks

Its pretty funny isent it?? I do have to thank Luigi1 for bringing it up again.....had it saved in my favorites but had forgotten all about it......figured I bring it up...get off the topic of the 000s thats been going around.....not to mention, Ive been hearing it said alot more lately about the US holding dinar so I thought as a group we could maybe get to the bottom of this.....

[Luigi1]

A link...In addition, all major networks confirmed Bush sent pallet loads of US Dolllars to iraq for reconstruction that disappeared due to corruption. $Billions also used to purchase ID.

http://www.infowars.com/articles/iraq/iraq_deposits_5_billion_into_us_fed_reserve.htm

[Midx1]

Just wonder was this info put out the same as the Donald Trump story?

I feel this will make some money also,,but some of these stories are turning into tall tales that can never be verified.

[DinarProwler]

Hi Keep

I would like to see proof of this also. But guess what you will not find any!

More made up crap in Dinar land.

[keepmwlknfny]

Just wonder was this info put out the same as the Donald Trump story?

I feel this will make some money also,,but some of these stories are turning into tall tales that can never be verified.

Exactly my point Midx1.....just fairy tales that are spread just to make this investment sound more solid then what it is......and alot of people are getting the wrong idea from these stories!!!

[Luigi1]

Its pretty funny isent it?? I do have to thank Luigi1 for bringing it up again.....had it saved in my favorites but had forgotten all about it......figured I bring it up...get off the topic of the 000s thats been going around.....not to mention, Ive been hearing it said alot more lately about the US holding dinar so I thought as a group we could maybe get to the bottom of this.....

I may be wrong but I'm just passing on infromation I came across on the internet just like everyone else is. The UK is also known to have large amounts of new ID according to the UK Guardian.

[Rhorse]

"The notion that the US is holding massive amounts of IDQ, waiting for Iraq to RV so they can cash it out and pay the US debt has been passed around these forums for years it seems....

But yet, no one has been able to come forth with any sort of evidence supporting this idea.......EVER......."

Agreed.... this just feels like a PUMPER story that's been passed down... just another myth to dispel... no one really knows the US' holdings (has anyone actually seen our the U.S. financials from FY2005 on?... LOL)

It doesn't really affect the investment one way or the other, I think. The US could be holding any amount of dinars it wants, but why would it need to? Any what makes anyone think the country would use RV funds to pay down the national debt? Quite a fantasy.

But GO RV just the same

[Bad Penny]

Thanks for digging that one up. I remember when it came out and believe that this was latter spun into the myth of the Fed's holding IQD. I have never seen any evidence otherwise.

[LaGrange]

Regarding the Federal Reserve holding currency, I think we can agree that they are-just as they hold a portion of many currencies and I realize that they are a entity to themselves and not part of the U.S. gov, but I also think the fed may be a more important player than many give them credit. I think it would be impossible to find out if the fed has any additional holdings for a "special" purpose and although it would make a great conspiracy theory, I have no way of throwing anything out there that has merit behind it.

Just saying.

http://mikenormaneconomics.blogspot.com/2008/12/largest-fed-holding-foreign-currencies.html

http://www.federalreserve.gov/releases/h41/current/

13. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when

the foreign currency is returned to the foreign central bank. This exchange rate equals the market

exchange rate used when the foreign currency was acquired from the foreign central bank.

14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange

rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the

Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on

January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and

ALICO Holdings LLC.

Edited June 26, 2011 by LaGrange

[keepmwlknfny]

I may be wrong but I'm just passing on infromation I came across on the internet just like everyone else is. The UK is also known to have large amounts of new ID according to the UK Guardian.

And as the purpose of this post is, to bring any evidence to light.....because people are so quick to say that all these countries are holding massive amounts of dinar but there is nothing supporting the idea.....if they were holding dinar it would most likely be within their own central banks, and central banks dont stockpile currency for profits.....only to manage monetary policies....

[panamajo]

Yup. inquiring minds want to know. Is this really true? Just like one of your posts that challenged folks to find a link to the story that claimed GWB said the Iraq war would not cost the taxpayer one cent. So yes I would love to see a link that say's the US is sitting on tons of Dinar. I doubt that a link would even exist.

[bright]

Just wonder was this info put out the same as the Donald Trump story?

I feel this will make some money also,,but some of these stories are turning into tall tales that can never be verified.

I don't know if Donals Trump holds dinars or not and I could care less......he is not always right on his investments......however I do recall a couple of years ago reading an article from a Boston magazine that ran a story about him possibly investing in Iraq.....but who knows if it was true or not......I think that magazine has went bankrupt since then

[keepmwlknfny]

Regarding the Federal Reserve holding currency, I think we can agree that they are-just as they hold a portion of many currencies and I realize that they are a entity to themselves and not part of the U.S. gov, but I also think the fed may be a more important player than many give them credit. I think it would be impossible to find out if the fed has any additional holdings for a "special" purpose and although it would make a great conspiracy theory, I have no way of throwing anything out there that has merit behind it.

Just saying.

http://mikenormaneco...currencies.html

http://www.federalre...es/h41/current/

Thanks for sharing those.....seems that they are saying the US reserve is holding alot more foriegn currencies these days but like you stated, it has really nothing to do with our govt and our economy or our national debt.....Im sure the majority of that being held there would be the euro, and the yen....something of value......I mean the UST holds those to help manage our own monetary policy...

[brandedbabe]

Glad to see you thinking Keep! I have pulled back from the boards for some time and just "lurk"...I have looked into the U.S holding iqd in the past and their is no proof of what your looking for. I feel Iraq is in the you broke it, you own it situation. Iraq had borrowed money from every super power country including China. Now people say "what was China's motivation for this action and say because they hold iqd....no China's motivation is because they need the oil and they were allowed to buy most of the big contracts over in Iraq. My question is why would the U.S allow China to gain control over these contracts if it does not have nothing to do with debt. Also we see articles saying their is a currency war truce without China having to level the playing field?

I don't believe their will be any answers to what's really going on Keep....some of the moves China and the.U.S have made is not logical in my opinion. I believe in the R.V but the only way the debt is getting paid I think has more to do with the U.S allowing China to control the contracts of the oil and less to do with U.S owning iqd....my opinion! I love your work by the way...you keep me on my toes....

[WorkerBee]

The fed posts quarterly financial reports. I know these reports aren't going to specifically state IQD holdings but if one knew where to look, for these assets, you might be able to work backwards and get some kind of amount. If I was reading it correctly, it stated major currencies and then had a listing for "other" currencies, but I'm not sure if that was Fed owned currencies or if it was foreign currencies on deposit. And would there be any difference between those two categories? One would be an asset and the other a liability?

I'm only reading these from the average joe's perspective so I'm not sure if it would even be of any relevance. I was just thinking it might provide a clue to someone who new how to read it.

Edited June 26, 2011 by WorkerBee

[LaGrange]

http://www.imf.org/external/np/sta/cofer/eng/index.htm

The COFER presentation

COFER data for individual countries are strictly confidential. The data presented in the attached tables (CSV and PDF) are aggregated data for each currency for three groupings of countries:

•World

•Advanced economies, and

•Emerging and developing economies

In addition to the lines for the five major currencies and “other currencies” there are two other lines in the tables:

•Unallocated Reserves, and

• Allocated Reserves.

The Unallocated Reserves line captures the difference between the total reserves data reported to IFS (for the world table on Foreign Exchange) and to COFER, for each of the country groupings mentioned above. It consists of two components:

•The total reserves of nonreporting countries, i.e., the countries within each grouping, which do not report currency composition data to COFER, and

any discrepancy between reporters’ data on total reserves as reported to COFER and to IFS.

• The Allocated Reserves line equals the reporters’ data on total reserves as reported to COFER.

IMF information, this stuff gets complicated quickly. lol

The fed posts quarterly financial reports. I know these reports aren't going to specifically state IQD holdings but if one knew where to look, for these assets, you might be able to work backwards and get some kind of amount. If I was reading it correctly, it stated major currencies and then had a listing for "other" currencies, but I'm not sure if that was Fed owned currencies or if it was foreign currencies on deposit. And would there be any difference between those two categories? One would be an asset and the other a liability?

I'm only reading these from the average joe's perspective so I'm not sure if it would even be of any relevance. I was just thinking it might provide a clue to someone who new how to read it.

You may have a point.

http://www.newyorkfed.org/banking/reportingforms/TIC_BQ_2.html

[4aprofit]

Here's an interview with Rudolph (Rudy) Conen, on Sean Hannity w/Fox News....saying our government is holding appx. 5.5 trillion of the new iraqi dinars in their basket of currencies...I've always wondereed why this guy has'nt gotten in trouble with the federal govt. yet...especially if all of this is a lie...he has been on a lot of major media entities, talking about the dinar for years now...and he's even been on many of the dinar sites, chats and blogs...It is said that he was in an executive position with foreign currency with J.P.Morgan Chase Bank for appx. 15 years...This interview was on Sept. 2, 2010, when oil was lower per barrel than it is now, Iraq's budget was based on $70.00 per barrel oil, now it is near $100.00, there has been appx. 30% more oil found in Iraq since then, The IMF projected Iraq's GDP to be 4.5 times higher in 2011 than it was in 2010...there is much more to mention, but with this said, some say that what Rudy says about the dinar coming in at the one to two dollar range was before all of these other indicators have materialized since then when he spoke, so some say that is why Iraq can support a $3.00 +/- RV....I dont know who to believe, but we will see?....For what it's worth...

[LaGrange]

http://www.gao.gov/special.pubs/longterm/debt/ownership.html#foreignholdings

The Treasury International Capital (TIC) reporting system collects data for the United States on cross-border portfolio investment flows, including an annual survey of foreign portfolio holdings of U.S. securities. Preliminary data indicate that as of June 30, 2010, foreign holdings of U.S. securities—both public and private—were approximately $10.7 trillion. Holdings of Treasury securities and U.S. agency debt (U.S. agencies include government sponsored enterprises (GSEs) The Federal Government has chartered these to provide financial intermediation for specified public purposes, such as mortgages. Examples include the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal Home Loan Banks, the Farm Credit System, and the Federal Agricultural Mortgage Corporation. Although federally chartered to serve public-policy purposes, the GSEs are classified as non-budgetary and excluded from the Budget. This is because they are intended to be privately owned and controlled, with any public benefits resulting from the GSEs' business transactions accruing indirectly. such as Fannie Mae and Freddie Mac) account for about half of

[JCOUTEE]

Thanks for the post Keep !!

[tandy]

just a thought...how many times have we heard that the US had frozen foreign countries assests when they did something "anti-social"? We certainly aren't privy to the dealings of the gov. or the feds...no telling how much money other countries have in US banks....so who knows on the boardwalk???

[dinarck]

+ 1 Keep. Think that this is an issue that needed to be brought up. We cannot verify that the US holds large amounts of dinar and that is the whole point. It cannot be verified so the question has to be asked. Why has it been spouted off as truth? You here all kinds of nonsense that France is a large holder as well as China and not one bit of evidence to back it up. Trust me, nothing would make me happier than for someone to suddenly BAM drop the bomb with proof that it is true. That would shed some light on what is going on but I still don't think it would be absoulute proof of a RV. What I mean is even if the US had three trillion dinar that doesn't mean that they don't just see it as three billion knowing that Iraq has to RD and there is no way around it. Not saying there is no way around it but maybe there isn't. We simply don't know. Anyway thanks for the find and the post to bring up such an important topic for discussion.