Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by cigarman

I thought the 10k was supposed to go out the 12th?

Now wait a minute... Are you saying the Iraqis have missed a proposed date for something. Say it ain't so.

But simply great & amazing! Many thx to Adster, SGS & more (sorry if I've missed you others)...

Side Note: With the deluge of the aforementioned, I am truly bracing myself!

PS: Adster - Your rules that you posted earlier were absolutely hysterical & right-on. Many thx for that too...

Originally Posted by webinvestor

I would guess our collective purchases of Dinar are 3 or 4 days worth of oil exports.

$55 (approx. oil) * 2 mbpd (oil exports per day) = 110,000,000 USD per day.

5 days = 550,000,000 USD - that half a billion in 5 days...

Of course its not quite as simple as this but you get the idea. We are a few drops in the bucket compared to others (such as Kuwait - 28 billion) who were owed billions.

I am not sure if they ( IRAQ ) get the intire 55.

The state of alaska gets a % of as does the oil company who is doing the work to get the stuff out.

Originally Posted by d-man

Now wait a minute... Are you saying the Iraqis have missed a proposed date for something. Say it ain't so.

Ha,ha I was waiting for that !

Originally Posted by pam4jb

My understanding is that for any country who wishes to purchase oil from Iraq, has to buy the oil with Iraqi Dinars only.
This will do several positive things for Iraq.
Some of which are:
To bring dinar back to Iraq. The less out of circulation, the higher the value.
Driving the dinar's value up, it will gain world respect, and become the peoples 'currency of choice' in country.
Oil will be assuring it's value, no matter how their agriculture, tourism, business, or other industries survive.


Pam

Most Oil deals in dollars only ! I have heard rumors that Iraqi oil may deal in dinars for a period of time. I hope the rumor is true as it would be a huge case for a huge RV

I don't post much but have been around the Rolclub for a awhile. But I felt the need to post my thoughts on the part that the CBI Reserves may play in the reval of the dinar. Wm Knowels please correct me if I start heading to another planet here.

Last night I watched a documentry on the US Central Bank and one of the things that caught my attention was a statement that kinda flies in the face of what some have said about the amount of reserves that is required for a reval to a certain amount. The statement was " most of the gold in our vaults belong to other countries. These countries veiw our Central Bank vaults the safest in the world. In fact the US currency is backed up by nothing but the faith that the world has in the US governemnt to stay solvent." We do not back our currency with nothing that can be touched or smelt. Now here is where I get creative in my thinking. Right now not alot of the world has overwhelming faith in the GOI. So the GOI can't have the faith of other countries to build on. But they do have a natural resource that many countries lack but put a high value on and covets. So with that in mind I think, for now, that the so called required reserve to have a reval to a certain level is not as important as some think. They may need a certain amount of reserves for the banking system to function, but I do not know that. Bottom line, I beleive it will be factors other than reserves that will impact the reval level. Oil, currencies of neighboring countries, trade and admission into the GCC. Please straighten me out if I took a left turn there.

Originally Posted by pam4jb

My understanding is that for any country who wishes to purchase oil from Iraq, has to buy the oil with Iraqi Dinars only.
This will do several positive things for Iraq.
Some of which are:
To bring dinar back to Iraq. The less out of circulation, the higher the value.
Driving the dinar's value up, it will gain world respect, and become the peoples 'currency of choice' in country.
Oil will be assuring it's value, no matter how their agriculture, tourism, business, or other industries survive.


Pam

That would certainly help out the efforts of the CBI's auctions BIG TIME.

Originally Posted by Lakeway

I realize that the amount of DINAR in speculators hands may seem like a shiitepot full of cash, it is really of no consiquence to the CBI. In a few days, after this thing takes off like a tom cat with his hind end dipped in turpentine

...with a lighted match held to it!!! LOL

Originally Posted by RetMil

I don't post much but have been around the Rolclub for a awhile. But I felt the need to post my thoughts on the part that the CBI Reserves may play in the reval of the dinar. Wm Knowels please correct me if I start heading to another planet here.

Last night I watched a documentry on the US Central Bank and one of the things that caught my attention was a statement that kinda flies in the face of what some have said about the amount of reserves that is required for a reval to a certain amount. The statement was " most of the gold in our vaults belong to other countries. These countries veiw our Central Bank vaults the safest in the world. In fact the US currency is backed up by nothing but the faith that the world has in the US governemnt to stay solvent." We do not back our currency with nothing that can be touched or smelt. Now here is where I get creative in my thinking. Right now not alot of the world has overwhelming faith in the GOI. So the GOI can't have the faith of other countries to build on. But they do have a natural resource that many countries lack but put a high value on and covets. So with that in mind I think, for now, that the so called required reserve to have a reval to a certain level is not as important as some think. They may need a certain amount of reserves for the banking system to function, but I do not know that. Bottom line, I beleive it will be factors other than reserves that will impact the reval level. Oil, currencies of neighboring countries, trade and admission into the GCC. Please straighten me out if I took a left turn there.

Our huge national debt is the reason that we depend on foreign investment to stay solvent. Iraq's debt isn't nearly what ours is, and they are working on debt pardons from a lot of countries, so that won't be as big a factor for them as it is for us.

RE: the 10,000 gift

One thing that I am always grateful for is this:

What actually happens in Iraq does not in any way depend on our ability to understand it, explain it, or predict it.

I get a very strong feeling that the Iraqi citizens are not very surprised that this gift has not yet been given out. Maybe they don't even really expect to ever see it.

In any case, what will be, will be.