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ENOCH8 COMMENTS ON RV


Carrello
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Let the games begin:

ENOCH COMMENTS ON WHAT TO EXPECT FROM AN RV

Enoch is talking about this article:

http://translate.goo...8-10-12-05.html

Economic parliamentary: failure of the Iraqi economy is due to administrative chaos

Twilight News / The Commission on the economy and investment in the House of Representatives, Sunday, that the most important reasons for "failure" of the Iraqi economy back to "administrative chaos", warning that the continuation of this mess will push the economy into serious decline.

A member of the parliamentary Economic Committee Nahida Daini's "Twilight News" that "the most important reasons for failure of the Iraqi economy back to the administrative chaos that pervades all the ministries that have a link in economic affairs."

It is said that an adviser to Prime Minister for Economic Affairs Abdullah Hussein Al-Anbuge had called earlier, to rearrange the economic file format, which provides payment of the economic wheel with increased frequency away from the confusion that prevails in the Iraqi economy currently, indicating that the file of the Iraqi economy is going now hands non-economic and can not promote him to the level of it in a good position.

Dani explained that "there are many ministers and ministries are running is not their specialty, and there are many managers do not have sufficient experience and some of them come out in recent years, and got the job through the quota system."

Daini and warned that "the continuation of the administrative chaos will push the economy into serious decline."

Download Economists all Iraqi political responsibility of the deterioration of the Iraqi economy after 2003, argued that the political orientation and visions are not clear to successive governments in Iraq after 2003 led to economic recession and the deterioration of industry and agriculture, and the lack of clarity of vision as a result of political chaos and social and economic led to a administrative and financial corruption.

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Enoch s response

Re: !% Adviser to the Prime Minister for Economic Affairs Calls to Rearrange the File of the Iraqi Economy %!

Post Enoch8 Today at 1:41 pm

Looks like the overall sense of this, might be simply put, that the economy and inflation has nothing to do with the amount of Dinars in circulation, put that dollarization and the peg to an inflating USD is largely the problem.

One main point is to consider.... at 1170 with 30 Trillion IQD (as reported by CBI), that is only about $26 Billion Dollars worth of currency.

Iraq possesses, (according to their own records and IMF), only about 20% of that total, roughly speaking, about 7 Trillion IQD and about 23 Trillion is not held by or even own by Iraqis..... and about 80% of their economy is based on USD and other currencies.

It was reported by CBI , that this practice is costing about 8% of the GDP, due to a non recognized National Currency..... largely caused by the costs to convert to other currencies..... and that might not include additional accounting inconveniences, due to the low value and number of zeros.

It is obvious, that there are 4 main things that need to happen to solve this problem.

1. The Currency has to be tradable internationally, so the costs of import and exporting non oil goods is not draining 8% of the GDP, which is inflationary, all by itself.

2. GOI policies that were based on 'Nationalization' and Government Regulatory practices of the former regime, that are oppressive to the private sector.... meaning the Revolutionary Command Counsel Laws..... must be repealed.... (which they are actively doing, BTW).

3. The prices of goods must be decreased and the National Currency value must be increased.

4. The use of USD and Euro internally, in the markets, is inflationary and is currency manipulation, which all by itself holds the people in poverty.

Now..... here are the problems to solve.

The Basis years of Iraq, are represented by the last fair representation of an average Iraq economy, according to the Ministry of Planning Feasibility Studies..... was 1988..... which is a fair assessment of the last year of a healthy economy, before the Saddam restrictions destroyed the economy.

This year seems to reflect the health of the economy, in the prior years.

In those years, the amount of IQD in circulation was about 25 Billion IQD and the country held most of that, value in either IQD or Petro Dollar wealth.

The Rate was $3.22 against the USD and the overall value of the Money Base, was about $80 Billion US.

Oil was only about $15 Per Barrel.

Today, there are 30 Trillion IQD and even IF Iraq held all of that and dedollarized, the value of the Money Base, at 1170 IQD per 1 US, is only about $26 Billion US.

That is only about 30% of the value of the Money Base of 1988, while the price of a barrel of oil is about $90 Per Barrel, (6 times higher than the prices of 1988.)

Note: The Inflation index from that day is shown by MOP and CBI to be about 630%, so the cost of oil is a very good representation of this number..... which is 600%..... only 30% difference.

The population has increased in that time, by about 35%.

So..... here is a way to add up what the actual Money Base would have to be valued at, today, compared to the $80 Billion US value of IQD in 1988, just to maintain the status quo of those days.

Here is how you figure it.

$80 Billion x 1.35 reflects the population increase and therefore demand:

That is $108 Billion US value of needed IQD.

$108 Billion x 630% (108 x 6.3) = $680.4 Billion USD value of the IQD Money Base.

There are only $26 Billion in existence, at 1170, so divide 680.4 by 26 = 26.167.

That means, simply put, that even without considering the fact that there is currently about 2 to 5 times the world demand on IQD (even as an exotic currency), that there was back then..... and the fact that if Iraq is able to hold a sustainable value, there would be many times that demand in the combined factors of demand, by Forex, International Treasuries and Corporations, to hold as Internationa Reserve Currency..... and estimates of that could be 5 to 10 times the current demand.

OK..... let me simplify this a bit.

If they were to simply Redenominate (IE LOP), they would only have a value of 30 Billion IQD at .86, which is only about a $26 Billion US, in IQD Money Money Base value, which is 26.167 times under value, (without factoring additional international demand of as much as 10 to 50 times that demand.

What this shows, is that just in Iraq alone, the demand (just to maintain the status quo), is to have 26.167 times the current value or 26.167 times the amount of currency in circulation..... in Iraq..... not including international demand.

So..... here is a perfect example of what this shows us.

Let us say they do what Turkey, France, Venezuela or Nigeria did.... and just Redenominate.

They would have to either print up 26.167 times as many notes in smaller denominations.... (which is totally absurd...), or they would have to also revalue 30 Billion IQD to 26.167 times the rate of (.00086 x 1000) = $.86 and times that by 26.167 as the exchange rate.

That is $22.50 US per 1 Iraq Dinar.

Now that is just preposterous.

That would still only meet the needs of only Iraq..... not considering international demand added....and still only to meet the status quo of today's existing levels of poverty.

That is just absurd to even consider as being viable..... because without a policy change.... they would suffer continued dollarization, multi currency practices.... and the identical inflationary pressures.... as they have now, without solving a thing..... and would have to do it all over again in 10 years.

Now..... here is one other thing I did not mention. Iraqi average incomes are only about 10 to 20% of their closest neighbors and competitive oil producing nations...... so let us continue this to show what the viable alternative would be to Redenomination.

So far we have shown that just Iraq.... to maintain a level of $4000 per year income averages, would need to have a Monetary Base in IQD value, of roughly $680 Billion which is 26.167 times larger than what exists now.

BUT!!!

Consider that very conservatively, the average Iraqi income would increase to just double in the next 3 to 5 years.

That creates a demand of 1.26 Trillion IQD valued at just $1.00 US.

We have already established, that there is already a demand in the world markets of 5 times that, (even before it is even an international reserve currency.)

That tells us, that there would be a need to have about 6.3 Trillion IQD, currently, if the Value was only $1.00 US.

If it RVs..... we also know.... the goal is to become an international reserve currency.... which would place additional demands of as much as 5 to 10 times that.

Since we are sticking with the conservative numbers.... let's use the smaller number.

6.3 x 5 times additional demand..... = 31.5 Trillion IQD valued at just $1.00 per IQD.

Now.... watch!!!

What was the latest numbers CBI has been reporting, exists in IQD in circulation?

Some have said 30 Trillion and others said about 31 Trillion. CBI is projecting, there would need to be 70 Trillion IQD at the current Exchange Rate within the next 3 to 5 years if nothing is done.

So...... are you getting this? Do you see what this is showing?

You are not getting the full picture from CBI, GOI or the media.

They for a 100% certainty, cannot Redenominate. without increasing the value at least 1000 times.... and would still have to have the existing amount of dinar in circulation..... even at $1.00 .

Do you see?

The economists are basically saying, there is more to it, than simply removal of zeros. That would destroy the economy if they did not replace every single dinar removed from circulation, with another.

Get it? yes

One added thought..... because obviously 30 Trillion IQD at 1.00 or more.... would also have to be (in effect) paid for.... with some form of tangible asset.

Since there ar no where near those kind of Liquid Assets to cover this, think on terms of Monetization of Non- Liquid assets..... through the use of more than just Treasuries..... but in forms of other than 'Promisary Notes'..... think on terms of UN..... UCC..... Bazil III supported Bills of Exchange, to make tangible, $15 Trillion worth of Proven Oil Reserves...... 505 Billion of known oil reserves, not listed..... Natural Gas..... Sulfur..... Minerals..... water resources and agricultural.....not to mention but only a few of an estimated $70 some Trillion Dollars worth of net non liquid asset wealth.

Then consider, how GOI and CBI would cover all the IQD being held internationally as Reserve Currencies....or buy them back and add them tho their own Liquid Reserves.

And we still are not even talking about forex or future bank lending programs.... etc. etc. and what stocks and futures are going to be worth.

My link

Edited by Carrello
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I'm sorry, but Enoch8 doesn't know what he's talking about. Some things he multiplies when he should be adding instead, and he makes logical leaps that just make no sense whatsoever.

He says 80% isn't even owned by Iraqis. If this is true, it means there's currently "demand" out there for about 20 billion USD worth of IQD.

He then later, as he's multiplying everything together, states that the 80% "demand" that currently equals 20 billion USD will all of a sudden equate to FIVE TRILLION USD in demand at a rate of 1:1. He says this right here:

"That creates a demand of 1.26 Trillion IQD valued at just $1.00 US.

We have already established, that there is already a demand in the world markets of 5 times that, (even before it is even an international reserve currency.)

That tells us, that there would be a need to have about 6.3 Trillion IQD, currently, if the Value was only $1.00 US."

That makes NO SENSE whatsoever. There isn't a demand for 5 trillion USD worth of IQD, there's a demand for 20 billion worth of IQD. This is one of the MANY areas that he should be adding instead of multiplying. The demand for a currency wouldn't increase by a thousand times just because the currencies value increase by a thousand times. In fact it would be the exact opposite, the demand would DECREASE as the price went up. Simple economics.

In reality, there wouldn't be any demand at all, because the central banks around the world would already have WAY more IQD (23 trillion USD worth, by his figures) than they could ever want, or use. 23 trillion USD means Iraqs entire known oil reserves are now completely owned by foreigners. All of it. Every drop. And then some. That creates a big problem, because not only do the Iraqis (obviously) use their own oil for their own purposes, they need the USD that they sell it for to run their government. 95% of the governments funding comes from USD that they get by selling oil, that they would no longer receive in Enochs gedankenexperiment. The CBs of other countries would have NO demand for more IQD, and they'd be trying to unload the IQD they had as quickly as they could so as not to get stuck with it, which would cause the value of the IQD to plummet.

You can quite easily tell whether or not his numbers are reasonable, by looking at his conclusion and seeing if IT is reasonable.

His conclusion is that Iraq HAS to have 30 trillion dinar worth 1 dollar each. Does that make sense? Let's take a look:

Saudi Arabia has more oil than Iraq, and about the same population. They also are a lot more stable, and have a GDP that is about 3x what Iraqs is. Given that, if Iraq just has to have 30 trillion USD worth of IQD in circulation, Saudi would obviously have to have more, since their GDP and oil reserves are so much higher.

All of this is easily verifiable in 30 seconds by googling. Now, how much currency does Saudi have in circulation?

http://news.goldseek.com/GoldSeek/1216063238.php

They have an M1 of 111 billion USD worth of currency. 111 billion. Yet for some reason, Iraq has to have 30 trillion. About 300 times higher. His reasoning and his math just make no sense at all.

Take the 30 trillion IQD that are out there (according to enoch himself). Now figure that since Iraqs GDP is 1/3 Saudis, their currency value should also be about 1/3 Saudis (in reality it should probably be less, due to stability issues, etc). That would mean 1/3 of 111 billion, or about 37 billion USD worth. Divide that by the 30 trillion dinar, and you get a value of about 0.0012. About 50% higher than what it is right now. Not the 116,000% increase that Enoch is saying has to happen. Even if you think that Iraq should have just as much USD worth of currency out there as Saudi (despite the fact that they have less oil and a far lower GDP), that means 111 billion divided by 30 trillion IQD in circulation = exchange rate of 0.0037. About 430% higher than it is now, not 116,000%

Sorry Enoch, your math doesn't make any sense.

What did that say in a nutshell?

A lot of nonsense, to be honest.

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Here we go again, FrankieV, you just confirmed you are a true moron...

where you said the demand is 20% and you said he figured 80% then you put a quote there which doesn't show what you are trying to prove at all...and multiplying when should be adding, when you are working with percentages you always use multiplication who taught you math a cracker jack box or did you get your diploma on blue light special at Kmart isle 13??

seriously, get outta here!!

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Big surprise, name calling, gibberish, and poor math skills from Surfing. Business as usual for you, eh?

where you said the demand is 20%

I didn't say the demand is 20%, I'm using his 80% figures. Learn to read.

and you said he figured 80% then you put a quote there which doesn't show what you are trying to prove at all...

Yes, it does. He is saying the current demand of 20 billion USD worth somehow magically transforms into 5 trillion USD worth of demand. And that's exactly what I showed, and it's ridiculous. I'm sorry that you're not capable of understanding my point, but that is your problem, not mine.

and multiplying when should be adding, when you are working with percentages you always use multiplication who taught you math a cracker jack box or did you get your diploma on blue light special at Kmart isle 13??

seriously, get outta here!!

Lol, not a math expert, are you? If I have 1 liter of orange juice mix, and (all at the same time) add 10% vodka, 5% grenadine, and 50% water, you ADD the percentages together (to get 65%) and then MULTIPLY it by the original volume in order to get the NEW volume of 1.65 liters. If you MULTIPLY 1 liter by 10%, and then 5%, and then 50%, you get 1.73 liters, WHICH IS WRONG. This is exactly what he is doing, multiplying things in succession when he should be adding the percentages AND THEN multiplying (or multiplying each percentage by the ORIGINAL value and then ADDING them together).

You really shouldn't be trying to give anyone math lessons, you prove over and over again that you don't understand even very basic math.

Instead of name calling and proving you don't understand math, how about you explain why I'm wrong, and that Iraq needs 30 trillion USD worth of currency when Saudi only has 111 billion? Go ahead. I'm waiting.

Edited by FrankieV
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Just one more down to earth lesson why this is not going to bring us the kind of return the guru's have been promising us for years. The Saudi Arabia example brings some logic to level our expectations. Oh well, I hope something happens this year so this ride can be over.

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Big surprise, name calling, gibberish, and poor math skills from Surfing. Business as usual for you, eh?

I didn't say the demand is 20%, I'm using his 80% figures. Learn to read.

Yes, it does. He is saying the current demand of 20 billion USD worth somehow magically transforms into 5 trillion USD worth of demand. And that's exactly what I showed, and it's ridiculous. I'm sorry that you're not capable of understanding my point, but that is your problem, not mine.

Lol, not a math expert, are you? If I have 1 liter of orange juice mix, and (all at the same time) add 10% vodka, 5% grenadine, and 50% water, you ADD the percentages together (to get 65%) and then MULTIPLY it by the original volume in order to get the NEW volume of 1.65 liters. If you MULTIPLY 1 liter by 10%, and then 5%, and then 50%, you get 1.73 liters, WHICH IS WRONG. This is exactly what he is doing, multiplying things in succession when he should be adding the percentages AND THEN multiplying (or multiplying each percentage by the ORIGINAL value and then ADDING them together).

You really shouldn't be trying to give anyone math lessons, you prove over and over again that you don't understand even very basic math.

Instead of name calling and proving you don't understand math, how about you explain why I'm wrong, and that Iraq needs 30 trillion USD worth of currency when Saudi only has 111 billion? Go ahead. I'm waiting.

you still prove nothing about what you were originally trying to say, actually I understand a lot about basic math enough to know the equation you represented was not in relation to what was explained he even broke it down fr you in simple math.

Key point for Lopsters: "you can't solve monetary bubble with monetary policy"

ENOCH is not comparing Iraq to Saudi as you introduced and well, Saudi is not a democracy and looking to be a world reserve currency either. Saudi also does what China does with the exchange rate of their currency hold on the value so it does not go up!

you should really know your current events, it will open your mind so you can learn!

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Thanks Frankie. I couldn't make heads nor tales out of it. (And some peeps call me a Know-it-all! HAH! This proves 'em all WRONG!) But, then. . . if it had meant something I MIGHT have been able to figure it out.

+s for you!

What do you best use to solve monetary problems? Political solutions? Military ones? Or maybe Belief systems?

First of all things you don't try to correct someone by changing the subject in entirety, like he compare Iraq to Saudi Arabia, you use the same numbers and do the math the way you say it should have been done which he did not do and he would have found out he was not right had he done.

Second, more monetary policy would be a manipulation tactic rather than restructuring the existing monetary policy through reforms, it's common sense not manipulated insanity!!

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you still prove nothing about what you were originally trying to say, actually I understand a lot about basic math enough to know the equation you represented was not in relation to what was explained he even broke it down fr you in simple math.

Key point for Lopsters: "you can't solve monetary bubble with monetary policy"

ENOCH is not comparing Iraq to Saudi as you introduced and well, Saudi is not a democracy and looking to be a world reserve currency either. Saudi also does what China does with the exchange rate of their currency hold on the value so it does not go up!

you should really know your current events, it will open your mind so you can learn!

So now you're suggesting Iraq is "looking to be a world reserve currency"? Not "THE" world reserve currency but "A" world currency? There is only one world reserve currency and that is the US dollar. For the USA dollar to lose the world reserve currency status to Iraq is just laughable. More fantasy hopes. LOL

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So now you're suggesting Iraq is "looking to be a world reserve currency"? Not "THE" world reserve currency but "A" world currency? There is only one world reserve currency and that is the US dollar. For the USA dollar to lose the world reserve currency status to Iraq is just laughable. More fantasy hopes. LOL

Yes Shabibi said it himself...they also want to move towards a asset backed currency not fiat as in a modified version of the gold standard, your not paying attention to current events!!

here's an article for ya which supports ENOCH:

Parliamentary legal committee MP said that the 2012 federal budget will be presented to the Parliament in the middle of next month for discussion.

MP Ahmed Habeeb told Aswat al-Iraq that no problems have arisen, and it will be presented to parliament.

He added that a sum of money was allocated for the construction of the Greater Fao Port.

The Iraqi Cabinet began discussing 2012 budget, whereby 131 trillion Iraqi dinars shall be allocated for the coming year as a federal budget, showing an increase of 36 percent, according to a statement by the government spokesman’s office.

link

pay attention to the line that states 131 trillion for a budget!!

here's some more:

Here's a little food for thought since this is an important article that you lopsters seemed to overlook basically because it would give you less to talk about:

Word has spread 'round the globe, partly due to the diligent efforts of the dinar forums, which have compiled vast amounts of research, data and first hand intel, in an effort to determine, and plan for, the two most important pieces of information associated to this grand event – "the rate" and "the date".

120+ countries will see changes in their currency values along with Iraq upon the initiation of this unprecedented event. Each nation's currency rate will ultimately (if not immediately) be based mostly on the nation's assets (precious metals, oil, gas, GDP, etc.). See the article in Business Line "Drifting Back to the Gold Standard"

[http://www.indiaeveryday.in/finance/news-drifting-back-to-gold-standard-1023-2627803.htm

Here's Steve Forbes telling about the US doing it in 2012:

http://www.indiaeveryday.in/finance/fullnews-drifting-back-to-gold-standard-1023-2627803.htm

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Enoch8 seems to be correct on what he states. It's more to it than what these lopsters are thinking. You cannot compare Iraq with S arabia, turkey, kuwait, or those other clown of a nations. Iraq has more wealth than all those combined. Iraq just don't have oil, they have natural gas, and other resources. Just Iraq's oil alone would take over 25 years to pump it all at 15 million barrels a day. Iraq is only pumping around 3 milion barrels a day now, so to get to 15 milion a day will take another ten years or longer. Just estmates, not facts.

TY M'Lady...always have my back!

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Enoch8 seems to be correct on what he states. It's more to it than what these lopsters are thinking. You cannot compare Iraq with S arabia, turkey, kuwait, or those other clown of a nations. Iraq has more wealth than all those combined. Iraq just don't have oil, they have natural gas, and other resources. Just Iraq's oil alone would take over 25 years to pump it all at 15 million barrels a day. Iraq is only pumping around 3 milion barrels a day now, so to get to 15 milion a day will take another ten years or longer. Just estmates, not facts.

Above all, Iraq has a lot of gold... People tend to forget this.

Bondlady....

Could you please analyse Enoch8's rant? On top of the great work you do already :-)?

THANKS!

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Yes Shabibi said it himself...they also want to move towards a asset backed currency not fiat as in a modified version of the gold standard, your not paying attention to current events!!

here's an article for ya which supports ENOCH:

Parliamentary legal committee MP said that the 2012 federal budget will be presented to the Parliament in the middle of next month for discussion.

MP Ahmed Habeeb told Aswat al-Iraq that no problems have arisen, and it will be presented to parliament.

He added that a sum of money was allocated for the construction of the Greater Fao Port.

The Iraqi Cabinet began discussing 2012 budget, whereby 131 trillion Iraqi dinars shall be allocated for the coming year as a federal budget, showing an increase of 36 percent, according to a statement by the government spokesman’s office.

link

pay attention to the line that states 131 trillion for a budget!!

here's some more:

Here's a little food for thought since this is an important article that you lopsters seemed to overlook basically because it would give you less to talk about:

Word has spread 'round the globe, partly due to the diligent efforts of the dinar forums, which have compiled vast amounts of research, data and first hand intel, in an effort to determine, and plan for, the two most important pieces of information associated to this grand event – "the rate" and "the date".

120+ countries will see changes in their currency values along with Iraq upon the initiation of this unprecedented event. Each nation's currency rate will ultimately (if not immediately) be based mostly on the nation's assets (precious metals, oil, gas, GDP, etc.). See the article in Business Line "Drifting Back to the Gold Standard"

[http://www.indiaever...023-2627803.htm

Here's Steve Forbes telling about the US doing it in 2012:

http://www.indiaever...023-2627803.htm

Those articles are about using gold......NOT all the nations assets.....can you try to find a better link to support your argument??

And how about the link also to shabibi saying they want to be a reserve currency for the world......

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More contracts are being made weekly, from outside sources.

They need to restore value to their own people and their own economy.

They would be trying to figure out how to do this without everyone else in the world draining their finances from their decisions, or minimizing their losses from "outside" investments taking all their profits.

And using a new money could easily help that if they forced cash ins of old monies currently traded.

After this, I cannot or will not think about until there is viable reason to. And hopefully I am stupidly wrong for suggesting what I thought.... no doubt will get some bad scores outa this...

But income is rising. Price adjustments are being made. Volume is increasing. These are excellent markers for valuation to increase IMHO...........GO RV!!!!

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Wow - a bunch of nit picky people here IMO.

Whether some of the figures, percentages, etc are right or wrong, the overall concept of the analysis holds a lot of weight.

Demand may not be a high as he calculated, but, it could also be much less for all we know.

We all derive our own theories on what is really happening, what real stats are, etc. etc.

I know I've read they have had inspirations of becoming a reserve currency as well.

Other things that make them apples to oranges to their neighboring regions

Democracy vs Monarchies

Free Market vs Welfare economies

Other factors:

How many neighboring countires are getting an abundance of foreign investments?

How many neighboring countries hold other natural resources (Which also may be untapped)?

How many neighboring countries have bodies of water nearby (two rivers)?

If I were to give an opinion of the overall picture, the situation at hand reminds me of how I have read (in books or stories) that back in the day, Christianity used to be spread to all regions by the European nations. Some places converted with ease, some however did not.

I think the same concept exists today, but instead of using the type of religion, it is more based on the idea of the type of government format.

This theory, which is only of opinion, basically creates better living conditions for all. Which would push neighboring countries to wish for the same. Thus spreading democracy.

And as democracy occurs in all those regions, people who put their money in the right spot may profit.

For all of us holding IQD, we're just hoping we put our money in the right spot....

Who knows.. No one does, really..

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Wow - a bunch of nit picky people here IMO.

Whether some of the figures, percentages, etc are right or wrong, the overall concept of the analysis holds a lot of weight.

Demand may not be a high as he calculated, but, it could also be much less for all we know.

We all derive our own theories on what is really happening, what real stats are, etc. etc.

I know I've read they have had inspirations of becoming a reserve currency as well.

Other things that make them apples to oranges to their neighboring regions

Democracy vs Monarchies

Free Market vs Welfare economies

Other factors:

How many neighboring countires are getting an abundance of foreign investments?

How many neighboring countries hold other natural resources (Which also may be untapped)?

How many neighboring countries have bodies of water nearby (two rivers)?

If I were to give an opinion of the overall picture, the situation at hand reminds me of how I have read (in books or stories) that back in the day, Christianity used to be spread to all regions by the European nations. Some places converted with ease, some however did not.

I think the same concept exists today, but instead of using the type of religion, it is more based on the idea of the type of government format.

This theory, which is only of opinion, basically creates better living conditions for all. Which would push neighboring countries to wish for the same. Thus spreading democracy.

And as democracy occurs in all those regions, people who put their money in the right spot may profit.

For all of us holding IQD, we're just hoping we put our money in the right spot....

Who knows.. No one does, really..

TY Darin...You are exactly right on all points!

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I'm sorry, but Enoch8 doesn't know what he's talking about. Some things he multiplies when he should be adding instead, and he makes logical leaps that just make no sense whatsoever.

Great breakdown and detailed analysis of his attempt to make something out of nothing. But as you can see people don't want you to get to "nit picky" about the facts. Most would rather use a big fantasy brush. Thank you for bringing clarity to the post.

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What did that say in a nutshell?

They for a 100% certainty, cannot Redenominate. without increasing the value at least 1000 times.... and would still have to have the existing amount of dinar in circulation..... even at $1.00 .

The economists are basically saying, there is more to it, than simply removal of zeros. That would destroy the economy if they did not replace every single dinar removed from circulation, with another.

In the first quote, he is describing a redenomination, but doesn't know it.

In fact, he is 100% sure that Iraq can't do what he is saying is needed; which basically outlines Shabibi's plan.

I hate to be the one to point it out, but I don't feel it is prudent to try to disprove a concept, by proving the need for it.

In the second quote, he is confirming what would be needed.

After that, I quit trying to follow; and I am a numbers person.

I am not doubting his ability to provide intelligent discourse, but he really should try another approach.

The article he was commenting on basically said Anbunge couldn't spell economy with a dictionary in one hand, knew nothing about economics and was hired due to affirmative action.

It also gave him credit for his ability to cause Chaos.

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So now you're suggesting Iraq is "looking to be a world reserve currency"? Not "THE" world reserve currency but "A" world currency? There is only one world reserve currency and that is the US dollar. For the USA dollar to lose the world reserve currency status to Iraq is just laughable. More fantasy hopes. LOL

What? The USD is the only reserve currency? OMG , dude, you ought to keep you type writer on hold, we are all laughing at your complete ignorance.

Among reserve currencies are British Pound, Euro, SDR, Mint Precious Metals, USD, and many other currencies.

Now..... I see no discussion on what Enoch8 was even referring to.

The world demand today, is in fact about $20 Billion or roughly 23 Trillion IQD, while it is not even a reserve currency, but only an exotic.

Personally I have no idea, what new demand will be, if it ever becomes a recognized currency, but I do know for a fact that he is right about the 1988 equation. That is all that is really important to understand.

Today, there is 30 Trillion IQD in circulation by CBI releases. That is a total value of only about $26 Billion.

In the 70s and 80s, there were about 25 Billion IQD in circulation, valued at approx. $3.22.

That is $80 Billion worth of total circulation in a time when, as he says, oil was even less than $15 per barrel and that is indeed close to the approximate inflation to today's prices of $90.

It is also factual, according to CIA, World Fact Book, UN and IMF documents, that Iraq has had additionally a 35% population increase.

That means even without factoring an increase in living standards, which is also projected by the IMF and numerous other sources, the need for currency in circulation, just for the Iraqis, would be a 35% increase just to population increases alone.

That is in fact a multiplication of $80 Billion x 1.35 = $108 Billion.

Because Iraq is also a large oil exporter, it is fair to also deduce, that there will be an additional demand increase to inflation, based on an inflation index of about 630% from the Basis year, of the Ministry of Planning, of GOI, from 1988. That is a documented fact and is also shown in CBI docs.

Looks like E8 was that to show, that the amount of $108 Billion worth of IQD x 630% = $680.4 Billion worth of IQD, would be needed to remove dollars from circulation in Iraq, in order to meet the demand, just to have a status quo.

That is perfectly logical.

If you divide that number by the $26 Billion in circulation, that indeed shows, that in fact, if Dollars are removed from the circulation in Iraq, (It is also a fact that about 80% of what circulates in the Iraq economy is Dollars and Euros, etc.), so removing that, would create a need for $680 Billion worth of IQD to be in circulation, (Just in Iraq and that is still, not giving one inch of ground to an annual 9% economic increase, as shown and projected by the IMF Global Data Mapper. {That is an underestimate, BTW}.

Now, without even getting into forecasts of how much world demand there will be, as an increasing value currency in international reserves, let alone forex (CBI does in fact document 3.5 Trillion IQD to be placed into forex reserves, which is a liability removed from the M2.)

So, tell us all FrankV and franc...... just exactly how will the GOI increase the value of IQD to $680.4 Billion, by lopping? By printing and adding an additional 655 Billion IQD to circulation after lopping down to 26 Billion? Or will they just continue to Use USD and Euro in the private sector, and keep the Iraqi people dirt poor at $4000 per year income levels, while all regional oil producing neighbors are averaging $20 to 40,000 per year?

Obviously they cannot just add 650 Billion Dinars to circulation without decreasing the value, unless there is world demand for it, or that would be just what Saddam tried and failed.... along with Chavez of Venezuela and Zimbabwe, who are doomed to repeat the same problem, over and over, because they oppress the people and have no real economy because of it. In time they all fail and have to do it all over again, just as America will if we continue down the same path we are on.

Guys, to believe in the lop, do you not realize how much you are showing us all, that you are communist advocates? That is what Socialism will do to you folks.

Lopping is the Socialist Nationalist solution and Lopsters are Commie infiltrators. A scourge to Free Market economics.

Just a guess, but personally, I might agree with a notion, that multi international corporations and treasuries, would hold a demand of much much more than the 5 to 10 times E8 is suggesting.

Here is another thought.

The 20 Trillion IQD outside of Iraq will not be paid for with currency or reserves. It is covered by Bills of Exchange, under regulated UN, Basil III and Universal Commercial Codes, which are a way to monetize Non Liquid assets, into tangible and liquid holdings of something of value.

Iraq is easily able to monetize 20 Trillion of such asset, wealth, and not even use half of it's value to do so.

This in effect gives them about $7 Trillion in immediate liquid wealth, by such agreements with world economies, who will do so, because they will also profit from it.

As opposed to Just reducing the money down to $26 Billion In Dinar, that is basically $7 Trillion in Iraq wealth that could never be monetized in a hundred years, if they simply lop.

This is a very unique thing that Iraq has, because there is not one single nation who did so, who has enough real asset wealth desired of the world, to even consider doing anything but a lop.

Iraq is unique in this regard.

2 fastest growing economy in the world.

Projected to be the fasted for the next 10 to 20 years.

This is all verifiable, and one thing I know for a fact, is that Enoch8 has regularly shown the documented facts and research to back and support his theories.

Who here has done that with more than one puny link to CBI, that did not even mean what was being argued?

Maybe you punks ought to put up or shut up, before you bring a knife to a gun fight.

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