nyone know the current percentage of USD used in Iraq?

[JWJW11]

Anyone know the current percentage of the USD used in Iraq?

[Atheist]

Anyone know the current percentage of the USD used in Iraq?

72.59%

[Heinzy444]

72.59%

LOL ... it's not supposed to be used all .. they issued Eagle Cards etc. some time ago ... but good luck with that.

[JWJW11]

LOL ... it's not supposed to be used all .. they issued Eagle Cards etc. some time ago ... but good luck with that.

HUH?? Its used everyday.............in addition to the dinar and the cards. Im really not lookng for dumb answers..........just would lke to know what percentage of purchases are made using the USD vs Dinar.........can somebody answer please..............

[capt.cliff]

I don't have a clue on the percentage of dollars used in everyday business but I will bet it is extremely high almost totally used ---but I am going to say that to make this RV successful a law will have to be passed regulating all transactions in Iraq will be done using the Dinar just the same as we here in the USA can not use foreign currency to buy things---thus the banks changing one currency to ours for local transactions---- I also suspect this aspect is NOT being released prior to the Rv to prevent a negative environment from happening before the RV , increase of value , release of the lower denominations, buying power and so forth---the dollars will be exchanged in the banks for the dinar will same value for the Iraqis---they will be useless to them otherwise unless the emigrate to the US.

Just my opinion of course but seems very logical to me

comments please?

capt cliff

[randalln]

estaminets put it at 30% and dropping

originally there was a few billion dollars in iraq

it had to be brought in after the new dinar fell flat on its face (and nobody wanted it)

[JWJW11]

I don't have a clue on the percentage of dollars used in everyday business but I will bet it is extremely high almost totally used ---but I am going to say that to make this RV successful a law will have to be passed regulating all transactions in Iraq will be done using the Dinar just the same as we here in the USA can not use foreign currency to buy things---thus the banks changing one currency to ours for local transactions---- I also suspect this aspect is NOT being released prior to the Rv to prevent a negative environment from happening before the RV , increase of value , release of the lower denominations, buying power and so forth---the dollars will be exchanged in the banks for the dinar will same value for the Iraqis---they will be useless to them otherwise unless the emigrate to the US.

Just my opinion of course but seems very logical to me

comments please?

capt cliff

Thank you! Thats what I was thinking just trying to put some conventional thoughts together................

[randalln]

estaminets put it at 30% and dropping

originally there was a few billion dollars in iraq

it had to be brought in after the new dinar fell flat on its face (and nobody wanted it)

No one can be sure till they release 2011 stats.

[Mazzz27]

LOL ... it's not supposed to be used all .. they issued Eagle Cards etc. some time ago ... but good luck with that.

Eagle Cash Cards are issued to local nationals if they work on base

[JWJW11]

estaminets put it at 30% and dropping

originally there was a few billion dollars in iraq

it had to be brought in after the new dinar fell flat on its face (and nobody wanted it)

Thank you! I know at one time it was much hgher than that............the reason Im asking is because after considering all the news articles as of late from the CBI in paticular. There was a new post this afternoon of an old article from Feb2010 that quoted the CBI as directly saying that they intended to pull the large denom notes off the market by no later the end of 2010 and as we all know they have been drilling this crazy circle 8 education process lke its happening tommorow every single day. Which s fine by me Im ready!

It occured to me that maybe the constant release of the removal of the zero articles are to convince the Iraqi people to trade their dinar for USD at the Banks. Is this what they possibly refer to as an RD? basically an in country RD.....The Banks then accumulate as much dinar as possible for the last 18 months and as we know the average Iraqi is broke just like the average american(obvously more) so the average citizen in Iraq doesnt not have any substantial amount of money. So if none of the Iraqi citizens hold nothing but USD as it appears most of them do. Then the dinar RVs to say 3 bucks for round figures the average Iraqi takes his 300 USD to the bank and exchanges it for 100 dinars which gives him less notes wth the same value as he had before he went to the bank. We know the average Iraqi is not gonna be cashing in a tremendous amount of dinars at the bank. This solves the question of expecting every Iraqi to wake up a millionaire. They wake up and go to the bank and get ther countrys currency and less notes to carry around. The banks and govt make out like bandits as always. Everyone wins in Iraq.......well you would hope so at least.

Now we get to us the "mafia" and all the other countries involved. We are just smalllll fries in this whole thing but given GWB's unbelievable gift he gave to those of us smart enough to take a shot.......Iraq has talked about the "mafia" that has to be refrencing the US and other countries who are invested in dinar as well as us the "speculators".......seems to me the outta country RV is what Iraq is pissed off about and holding some of this up(not for long) cause we didnt have to turn our dinars in yet as we dont need the dinar to live on. So we get to reap the benefits of being nvested in a currency that we made the right call by getting into it at the right time. So we go to the bank and cash in our dinar for what the exchange rate listed on the CBI. A dinar is a dinar.........if it RV's at $3 bucks then we take a million dinar in and exchange it for 3 mil USD ....................the Iraqi average Joe doesnt have that opportunity and thats why we are the "mafia" speculators"

I was explaning it to my wife like this.............if we knew an RV was guna happen any day here in the US (LMAO) that wouldnt stop us from paying bills and continuing to live our expensive kid driven daily lives and most US citizens have bank accounts granted but if we didnt its not like the average US citizen would have alot of cash on them to hugely benefit and I gotta imagne its a whole heck of alot worse in Iraq!

Anyways ths is obviously JMHO but something Ive been thinking about all day...........thoughts?

Eagle Cash Cards are issued to local nationals if they work on base

So we could safely speculate that their really insnt that much dinar in circulation in Iraq?

[randalln]

I think its probably close but the one thing i see is the Iraqis want the dollars in the bank and the dinars in the public

Because this gives them more buying power on the world market (better standing to back they're currency )

and as the public brings in the 25k,10k,5k notes and $100 dollar bills they exchange them for smaller denom's

and yes they have small denom's

I have a sute-case full

even the coins from 03'-04' (and there sill good )

[Heinzy444]

HUH?? Its used everyday.............in addition to the dinar and the cards. Im really not lookng for dumb answers..........just would lke to know what percentage of purchases are made using the USD vs Dinar.........can somebody answer please..............

It was not a dumb answer ... Iraq was ordered to de-dollarize, it's been in the news - maybe you're asking a dumb question ... do your research.

[Raleighwood]

I think its probably close but the one thing i see is the Iraqis want the dollars in the bank and the dinars in the public

Because this gives them more buying power on the world market (better standing to back they're currency )

and as the public brings in the 25k,10k,5k notes and $100 dollar bills they exchange them for smaller denom's

and yes they have small denom's

I have a sute-case full

even the coins from 03'-04' (and there sill good )

You poor fella......Who fed you lead flakes??

[Heinzy444]

Anyone know the current percentage of the USD used in Iraq?

They (CBI) has attempted at removing the USD from circulation completely but I don't think it's been fully successful.

To combat inflation, action has been initiated on three fronts. First, the Central Bank of Iraq raised its policy interest rates sharply and allowed a gradual appreciation of the dinar. These measures aimed to de-dollarize the economy in order to enhance the central bank's control over monetary conditions, and also to reduce imported inflation.

As per this IMF report:

http://www.imf.org/external/np/speeches/2007/050307.htm

[Raleighwood]

It was not a dumb answer ... Iraq was ordered to de-dollarize, it's been in the news - maybe you're asking a dumb question ... do your research.

Not sure if he knows how! You should be able to tell from his wild imagination and incorrect assessments.

[Heinzy444]

LOL ... it's not supposed to be used all .. they issued Eagle Cards etc. some time ago ... but good luck with that.

Clarification:

When I said "but good luck with that" I was implying good luck with taking the USD completely out of circulation in Iraq - that is the CBI's ultimate goal.

estaminets put it at 30% and dropping

originally there was a few billion dollars in iraq

it had to be brought in after the new dinar fell flat on its face (and nobody wanted it)

estaminets showe spelchek iz nott uzed neerly enuf

Edited September 8, 2011 by Heinzy444

[JWJW11]

It was not a dumb answer ... Iraq was ordered to de-dollarize, it's been in the news - maybe you're asking a dumb question ... do your research.

No disrespect man you seem to be coming across in a negative manor.........I appologize! Beleve me I have done plenty of research and I understand what you are saying in reference to de-dollorazation however it doesnt seem that will happen until after the RV........just trying to come to my own conclusion and was curious to know how it fit nto my thoughts and it seems we actually agree. Thanks for coming back and clarifying.

[Heinzy444]

No disrespect man you seem to be coming across in a negative manor.........I appologize! Beleve me I have done plenty of research and I understand what you are saying in reference to de-dollorazation however it doesnt seem that will happen until after the RV........just trying to come to my own conclusion and was curious to know how it fit nto my thoughts and it seems we actually agree. Thanks for coming back and clarifying.

No prob... all the best

[JWJW11]

Not sure if he knows how! You should be able to tell from his wild imagination and incorrect assessments.

Didnt we agree to dsagree? I would appreciate it if you just dont even respond to me or my posts.

I have nothing further to say to a guy that "HOPES" for an RD

As you troll a dinar forum looking to argue with anyone you see might have a different perspective than you.....not playing that game any longer......you loppers have bored me to tears!

[Argyll]

I think what Randalln has been saying seems pretty spot on!

[Tom 777]

Anyone know the current percentage of the USD used in Iraq?

I don't live over there so I can't give you an answer that would be correct.

[JWJW11]

I think its probably close but the one thing i see is the Iraqis want the dollars in the bank and the dinars in the public

Because this gives them more buying power on the world market (better standing to back they're currency )

and as the public brings in the 25k,10k,5k notes and $100 dollar bills they exchange them for smaller denom's

and yes they have small denom's

I have a sute-case full

even the coins from 03'-04' (and there sill good )

No doubt about that! I just think that dedollarizing would be alot more simple after an RV. Per my thoughts above the dollars come into the bank after the RV and the dinars go out on the street at the new rate. Thanks for replying to my post! like the way you think and can tell you have some inside info. Im a pretty good judge of character and can tell by the way you talk you arent full of sh#t!

I think you have definitely affirmed my thoughts and clear understanding on how this plays out! I think we are gettin really close!

I don't live over there so I can't give you an answer that would be correct.

LOL thanks! Kinda got my question answered!

[Heinzy444]

I think its probably close but the one thing i see is the Iraqis want the dollars in the bank and the dinars in the public

Because this gives them more buying power on the world market (better standing to back they're currency )

and as the public brings in the 25k,10k,5k notes and $100 dollar bills they exchange them for smaller denom's

and yes they have small denom's

I have a sute-case full

even the coins from 03'-04' (and there sill good )

"I have a sute-case full" - I hope it's a carry-on or you'll likely get it back filled with coconuts and seashells.

Edited September 8, 2011 by Heinzy444

[jakedog]

No one really knows and i can bet that our own government will never ever tell the truth not to mention how much money went to Iraq and most of it can not be accounted for !!!! I would say its over 30% that the USD is used there and remember all the USD that was paid to contractors from IRAQ,, BOSNIA,, INDIA,, KENYA ,, Just to mention a few and those dollars went out of Iraq back to these countries ,, I know for a fact that anytime of the day at JBB,, Balad you could not get near any western union with these people with fist full of hundred dollar bills sending them home to there countries or they was spending there USD with the Iraqs to buy goods so you think its about 30% ,, Like i said its more than that being used and still to this day !!!

[Darin]

30%? I think that is a low-end estimate. I would predict higher.

Billions of USD were flown in after the invasion. Enough billions where 8 or so billion easily went missing due to a potential theft or an accounting issue.

21 Jumbo Jets flew in pallets of seized assets of USD from the former regime.

So, they "had" a lot of the USD over there to prop up their economy.

Where did it all go? foreign cash reserves? banks? in the hands of the people??

I'm sure after a R/V the USD would be gone quickly (or basically not used in the market).

A R/D, not sure how fast they could pull the USD. It would maybe still get used in the market.