Very Important & Interesting Question About Iraqi Dinar...Insight Welcome!

dinarace wrote:Good question. Next question.

Cardiac99 wrote:Maybe I can get my Oklahoma redneck education in gear and answer Raiderman's question. I'll try.

When you cash in, let's say, 1 million dinar and, for the sake of this question, your bank account is credited $4 million. You probably are not going to leave the bank with a wad of $100 bills totaling $4 million. You will probably put the bulk of it in the account for a rainy day. A week or so later, you decide to buy a $1 million dollar house. You go to the bank and get a cashier's check for $1 million. The seller puts that cashier's check in his account and draws off of it periodically. Some of the cash from the cash-in is never "cash" it stays in the form of checks and deposit tickets, etc. Make sense?

If not, oh well, I tried.

GODSERVANT wrote:Knowing you are are asking questions that by design of their basis are an exercise in futility forces me to remind you that this is GOD'S blessing. You are not obliged to develop questions or comments to frustrate the children. Your ego and intelligence are found lacking. Believe in our LORD and wait for his gifts.

gtabdinar wrote:Can you say "Digital Credit?" That's all it is. The UST wants all the 25k notes they can get their hands on. Like Cardiac99 just said, they will never have to print out $4 million USD because it will never be taken out of the system. Talk about your pyramid scheme. BTW the UST wants all the 25k notes so that they can purchase more discounted oil from Iraq (and that's how Iraq is gonna' pay for all this----oil/money from the ground). Good job Cardiac!!! I have that same Redneck Degree!!!

raiderman wrote:Godservant,

My intention is not to "frustrate the children", but rather, to pose a question to more learned people that I with respect to the economies of the reality of this investment. This also has nothing to do with my "ego". I am simply asking a question regarding the physical mechanics of foreign currency transactions. I am at a loss as to following your thought processes....

As far as insulting my intelligence.....look before you leap....I happen to be a renowned Ph.D. in another field of study....clearly not this one or that would obviously preclude these questions I am asking...

I have plenty of faith, as I am a Christian man, but my faith does not answer these pointed questions. Are Okie and the rest of the gurus and moderators Christians? Do they ask questions? Do they seek intel? Of course they do!

raiderman wrote:Good question Openmind. This is a segway into another question I have (that may have been answered), but I have not seen any chatter about it.

If there are trilions of dinar floating around worldwide (in and out of the USA), where does the cash (USD) come from to support the cash-ins? Is there enough printed USD in circulation to cover the amount that would be needed?

Example: If there are an estimated 3,000,000 people holding an average of 1,000,000 dinar each in the USA (not counting what the UST holds), that equals 3,000,000,000,000 dinar (3 trillion dinar). Add on top of that what the UST holds. For argument's sake, let's say the exchange rate is $3.00 USD. That equals 9 trillion USD for cash-ins just for private citizens like you and me.

Where does the money come from? Does the USA print more? What will back the money? How does this process work?

These may be fundamental questions to some our gurus and economists out there, but just wondering.....

Thanks!