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Iraq Reinstate Rate To $3.22

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Iraq Reinstate Rate To $3.22

Post  RamblerNash on Thu Feb 22, 2018 10:04 pm

With the current M0 at around 60 trillion IQD and the reserves around 50 billion USD, it's not to hard to see that the rate published at the CBI is near 1,200 IQD to 1 USD with those figures.






In order to have the CBI back the M0 at $3.22USD to 1IQD, they would need to have 193.2 trillion USD in the reserves. That's about 193.1 trillion USD short. ( 60T X 3.22 = 193.2T )

Where is Iraq going to get the amount needed to support a reinstatement as the Gurus are saying for this overnight RV?

If your thinking oil, how much do they have to pump out of the ground and sell it on the market to have those funds at hand?

If your thinking UST, why would the US take on such a debt?


http://www.usdebtclock.org/



Have the Gurus got you fooled with their trick mathematics?
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Re: Iraq Reinstate Rate To $3.22

Post  Terbo56 on Fri Feb 23, 2018 11:32 am

Thank you, Rambler, and your point is spot on- $3.22 is a pipe dream-It WOULD be nice but, sadly, it is what it is, the higher the program rate is, the less the dinar is worth- At .86, it would be 1.162-So, NOW to get down to brass tacks, at 0.310, would be $3.22, and lower, at 0.200, would be $5.00 per dinar, and now, here's the biggie! 0.100, would be $10.00 per dinar- Now, everyone, run with that!!- I'd say we'd be in a nursing home at the wheel chair races at that point-That's how long we'd be there before that rate of exchange would EVER take place!
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Re: Iraq Reinstate Rate To $3.22

Post  RamblerNash on Sat Feb 24, 2018 12:28 am

@Terbo56 wrote:Thank you, Rambler, and your point is spot on- $3.22 is a pipe dream-It WOULD be nice but, sadly, it is what it is, the higher the program rate is, the less the dinar is worth- At .86, it would be 1.162-So, NOW to get down to brass tacks, at 0.310, would be $3.22, and lower, at 0.200, would be $5.00 per dinar, and now, here's the biggie! 0.100, would be $10.00 per dinar- Now, everyone, run with that!!- I'd say we'd be in a nursing home at the wheel chair races at that point-That's how long we'd be there before that rate of exchange would EVER take place!


Terbo...Your reference to .86 = 1.162 would be referring to the new notes, if they were to come out today.

Nobody has those and that's were some folks are still confused thinking they will get that rate applied to the 3 zero notes they hold. (25,000 IQD = ~25,000 USD)

That's where these Gurus take advantage of peoples bad math skills by putting all those numbers into the mix.


Here is the reserve amounts (in red) required for the figures you stated above...


1 IQD @ $3.22 USD = .31 or 193.2Trillion USD at 60Trillion IQD in circulation

1 IQD @ $5.00 USD = .20 or 300Trillion USD  at 60Trillion IQD in circulation

1 IQD @ $10.00 USD = .10 or 600Trillion USD at 60Trillion IQD in circulation

Curently it's:

1,184 IQD at $1 USD = 0.0008 or 50.67Million USD at 60Trillion IQD in circulation
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Re: Iraq Reinstate Rate To $3.22

Post  Sam I Am on Mon Mar 05, 2018 4:24 am

But Nash .... the US doesn't back their currency with anything, so why does Iraq need to? picking

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Re: Iraq Reinstate Rate To $3.22

Post  Kevind53 on Mon Mar 05, 2018 12:31 pm

The short answer is they don't. No one backs their currency with much of anything ... other than the faith and credit of the country issuing it. It has value only because people accept that the government will honor it. That said, we'll see 3.22 about the same time hell freezes over.

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Re: Iraq Reinstate Rate To $3.22

Post  RamblerNash on Mon Mar 19, 2018 11:51 pm

@Sam I Am wrote:But Nash .... the US doesn't back their currency with anything, so why does Iraq need to? picking


But Sam...The US does back their currency, but not at 100% with assets. Confidence makes up the rest.

In Iraq's case, they are a pegged currency. They need to back their currency 100% with assets, unless there is confidence that they can cover it.

Currently, Iraq is broke, they're taking on more debt (Loans), still corrupt, a country divided, and are in reconstruction from all the damage the years of war has taken. There isn't much confidence.

The thing that Dinarian's don't want to hear, and choose to ignore, is the fact that Iraq is maintaining the current rate, and have been all these years.

http://www.dinardaily.net/t69286-shhh-don-t-tell-the-gurus-that-iraq-reduced-the-note-count

Unless Iraq increases the reserves, the rate will remain about the same, as it has been all these years. Or less, if they can't get a grip on managing their financial situation...
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Re: Iraq Reinstate Rate To $3.22

Post  Sam I Am on Tue Mar 20, 2018 2:07 am

Good answer, Nash!

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Re: Iraq Reinstate Rate To $3.22

Post  RamblerNash on Sun Apr 08, 2018 3:11 pm



Just think of how many people are still being led to believe that the rate is in the budget, but the CBI has always told a different story?







https://cbi.iq/
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Re: Iraq Reinstate Rate To $3.22

Post  RamblerNash on Mon Jun 11, 2018 10:16 pm

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Re: Iraq Reinstate Rate To $3.22

Post  Allenj on Wed Jun 13, 2018 12:13 pm

that because these idiot don't know what a budget is for and they believe what they have been told not necessarily what the truth is RamblerNash

Just think of how many people are still being led to believe that the rate is in the budget, but the CBI has always told a different story?







https://cbi.iq/

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