Thread: Iraq/Dinar News. before Febuary 2nd 2006

Again, what they are referring to is the entire reserves that the Swiss secretariat manages, this amount (which totals hundreds of billions) includes reserves of all countries not just the gold of Iraq.

Originally Posted by wellwishes

Bonus.



SGS knows about this one above too. As she had her group on that Article. Researching it.

Neno I truly appreciate you finding these articles. Especially this last one. I know a few could not believe it was THAT much gold, but here is it....FACT. Add this to what Gloribee has uncovered and we are truly talking $trillions.

Inscrutable, Mike....See, I was not smoking those funny cigarettes[/QUOTE]

Switzerland gold reserves and Swiss National Bank

Originally Posted by billknows

It's not about rumors. It's about facts and to date 'contacts' (real or imaginary) have supplied none that can be verified.

Your Post and everything quoted to it will now be moved to the New Rolclub War Zone. Reason, You are Off Topic in this Thread. Please donot bring it here again. There, you all can Hash it Out. Thank You.

New Rolclub War Zone: http://www.rolclub.com/warzone/12584...-contacts.html

List of countries and territories by reserves of foreign exchange and gold - Wikipedia, the free encyclopedia

Central bank websites

On this page scroll to the 30,000,000 spot and then look at it's dollar value and then the description of what this dollar value covers.

"The world's total financial reserve of gold (central banks + significant global financial institutions like International Monetary Fund and Bank for International Settlements)"

Gold - How much exists and where is it?

Originally Posted by Socata 850

Goooooooooooooooood Morning RolClub

My last post was on the 10th of January. I'm glad to see things coming back together on the forum, I must admit I missed being here. What I've done is compile all the info from the auctions from the 10th until today and update the statistics to bring everything current. It's exciting to see the number of dinars pulled from circulation approaching 4 trillion just since Oct 1st. Remember, SGS and Michael 16 have researched this even further (perhaps back to as early as May of last year, and they believe the totals are closer to 5 trillion). Soooooooooo these are the current numbers.


(Auction Monday 1/22/07)
Number of banks 16 -----
Auction price selling dinar / US $ 1298 -----
Auction price buying dinar / US $ 1296 -----
Amount sold at auction price (US $) 104.240.000 -----
Amount purchased at Auction price (US $) 3.540.000
Total offers for buying (US $) 104.240.000 -----
Total offers for selling (US $) 3.540.000 -----


1. A 2 point change in the dinar today. Was 1300, now 1298

2. A (net) worth of dinars, (IQD - 755,357,585,000) pulled out of circulation from Jan 11th until today, 1/22/07

3. 16 banks participating today

4. 66th auction since the beginning of CBI's reval plan

5. 114 days into the CBI's reval plan.

6. 3,716,728,655,000 dinars pulled from circulation !!

7. 4,471,899,840 Dinars back into circulation today !!

8. 179 dinar change since Oct 1st (baseline was 1477) 12.119% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 2 point reduction in the rate so far this week. Was at 1300 at the end of last week, 1298 this week.

10. 27 point drop so far in the month of Jan. Ended at 1325 in Dec, now stands at 1298

Thank you so much for your updating posts. They are most welcome.

I have a question about your item number 7. It says 4,471,899840 Dinars back into circulation today!! Are you saying here that you think that that
is the total number of dinars currently in circulation?

The reason I ask is that estimates of what that figure actually is have varied
all over the map on this forum - anywhere from 18 trillion to 300 billion. I happen to think that the true number is approximately one (1) trillion, based
upon the posting that there were 4.6 trillion in circulation in November,
2005.

Your figure, if I am interpreting it correctly, is somewhat below the mean
posted on Rolclub and elsewhere, but significantly above what Ward and I think it is.

Please enlighten us as to what your view is on this subject, realizing that the number we are trying to nail down is very much a moving target.

Thank you.

Originally Posted by Inscrutable

Again, what they are referring to is the entire reserves that the Swiss secretariat manages, this amount (which totals hundreds of billions) includes reserves of all countries not just the gold of Iraq.





Neno I truly appreciate you finding these articles. Especially this last one. I know a few could not believe it was THAT much gold, but here is it....FACT. Add this to what Gloribee has uncovered and we are truly talking $trillions.

Inscrutable, Mike....See, I was not smoking those funny cigarettes

[/QUOTE]



That is incorrect. The hundreds of billions was what Iraq had. A country covered their reserves themselves...not in a pool. You were responsible for providing the strength of your own currency. Hundreds of billions would not remotely cover ALL countries. When currency was on the gold standard, a country needed many tons of gold to back their currency. As world economies grew it became more cumbersome and created huge shortages and is the reason the majority of countries are no longer on this standard. In fact, in the 1990's we experienced the largest increase in gold prices ever. This was largely due to countries' needs and a dramatic increase in personal and entertainment consumption of gold, creating huge shortages.

Besides, one article clearly state that hundreds of billions of this gold disappeared from Iraqi reserves. If it were from the general reserve, that would have certainly been major news.

We can agree to disagree, but you are absolutely incorrect in your statement.

RangerIII, I think he is taking the US dollar amount of Dinars sold to the banks by the CBI and converting it to dinars, showing how many went back into circulation via this auction. However, when doing the math, I come up with a rate of 1263.25 (?)

Originally Posted by Inscrutable

On this page scroll to the 30,000,000 spot and then look at it's dollar value and then the description of what this dollar value covers.

"The world's total financial reserve of gold (central banks + significant global financial institutions like International Monetary Fund and Bank for International Settlements)"

Gold - How much exists and where is it?

Again...at THAT time, much more gold was required because of the gold standard....not the case today. If that was not the case wouldn't Switzerland still have hundreds of billions in gold?

Originally Posted by wellwishes

Bonus.



SGS knows about this one above too. As she had her group on that Article. Researching it.

Neno I truly appreciate you finding these articles. Especially this last one. I know a few could not believe it was THAT much gold, but here is it....FACT. Add this to what Gloribee has uncovered and we are truly talking $trillions.

Inscrutable, Mike....See, I was not smoking those funny cigarettes[/quote]

Interesting,

We have all seen the screwed up translations before, and this is a perfect example, as they had to be interjecting that Switzerland has $800M in total, not specifically held to back dinar, then or now. Just does not compute given total reserves held to back dinar is only $16B. If there were ever 800 tons of gold just to back old dinar, we all would be in lalaland. Just my opinion.

Good luck to all, Mike