4.3bn of oil by 2010

[stevie]

http://www.isx-data.com/news/r26/iraq-43m-bpd-by-2010

That is quite alot. I wonder where it will be by next year?

[stevie]

Sorry about that. Don't want people to pass out.

[usakidd]

Nice post, Stevie
With just 3.5 years until 2010, this articles' estimates of 4.3 BPD may be very conservative.
:happy26: :happy26: :happy26: :happy26:

[FreeMyDinar]

Nice post, Stevie
With just 3.5 years until 2010, this articles' estimates of 4.3 BPD may be very conservative.
:happy26: :happy26:

That equates to $301 Billion US per/yr at the current market rate of $70 per barrel. As the cost of security begins to go down and the oil production goes up they're gonna see a real sizable increase in disposable income :D

[FreeMyDinar]

That equates to $301 Billion US per/yr at the current market rate of $70 per barrel. As the cost of security begins to go down and the oil production goes up they're gonna see a real sizable increase in disposable income :D

OOPS!! I mean $110 Billion per yr! But still a good number... ;)

[Loops]

If 100% of that went into reserves every year we could get a nice figure of the currency reserves building up over the years until 2010.

Would be nice to use to look at potential currency rates from that :D

Havent we got $19bn reserve now?

If you add the current oil production revenues with a few increases here and there over the years to 2010 what reserves would we have?

Then add the $110bn dollars for about 10 years. Thats about 1.4 trillion dollars in a very rough reserve estimate excluding all other revenues and expenditures.

With 14 trillion dinars in circulation(??) they could then support a rate of 0.10 to one in 2020.

This is a proviso that things dont change for better or worse. There are sooooo many things that could change this it would be too hard to think of all of them.

Anyone see my line of thinking?

[REITman]

Anyone see my line of thinking?

Not at all. :no:

[usakidd]

If 100% of that went into reserves every year we could get a nice figure of the currency reserves building up over the years until 2010.

Would be nice to use to look at potential currency rates from that :D

Havent we got $19bn reserve now?

If you add the current oil production revenues with a few increases here and there over the years to 2010 what reserves would we have?

Then add the $110bn dollars for about 10 years. Thats about 1.4 trillion dollars in a very rough reserve estimate excluding all other revenues and expenditures.

With 14 trillion dinars in circulation(??) they could then support a rate of 0.10 to one in 2020.

This is a proviso that things dont change for better or worse. There are sooooo many things that could change this it would be too hard to think of all of them.

Anyone see my line of thinking?


I admire your attempt to take a stab at this, but your logic is missing several ingrediants to solve the currency revaluation.
You have considered only Iraq's oil production. That's kinda like having a paper bag full of coins and dumping them out on the table and selecting only one coin denomination, say the quarters, and adding up all the quarters that were in the bag to find out the amount of worth in the bag. You would also need to add up all the pennies, nickels, dimes, half dollar, and dollar coins to find out the true value of the bag of coins(IRAQ'S economy)
Thier currency exchange with any other country has a lot to do with several other factors besides oil production.They have agricultural output of wheat, barley, beans and rice. Iraq is the world's largest producer of dates(The fruit from date trees).
Many of Iraq's industries has slowed tremendously due to UN sanction back in 1990. As these issues are being resolved, you will be able to also add up the pennies, nickels, dimes, etc..
I am being very brief here, but I hope you see my point.

[Loops]

Oh yes absolutley i was by no means doing this in full.

I was deliberatley discounting everything apart from the oil production as a super rough estimate.

This would at least give us a minimum range of possibilities as time goes on.

I dont know any other information about other exports from iraq etc so i couldn't possibly give a clearer model.

It was only off what free my dinar had said that i came up with that plan.

With all the "dimes" and "cents" in the equation im sure it will be a better answer for us.

It was only the most basic of basic concept that i was trying to put accross. Perhaps someone better informed here can fill in the gaps?

Thank you for your backing USA kidd.

[Loops]

Not at all. :no:

That says a lot more about you than it does about me. ;)

Please refrain from commenting if you arent going to put anything constructive and relevant into this thread. Geez i feel like a mod!:lmao:

"Honey the grown ups are having grown up talkys now go over there and play with your preeety dinars for a while"

[Adster]

Noone truly knows what they have in reserves except the CBI. This is a unique situation that has never happened before. They can set the dinar at whatever rate they choose, and they probably already have done and signed it behind closed doors.

With the imminent opening of the ISX the dinar needs to be convertible and be revalued to avoid the country being bought up for peanuts. ;)

[Loops]

Dont they have to issue a report on currency reserves eg an m1 or something to be in compliance with the IMF?

They can set it to whatever they want yes but it would be stupid to do something irrational. Do you think the government of Iraq is stupid?


The opening of the isx is not imminent. I havent seen anything telling me there gonna open it anytime soon.

Foreign Investment laws are in place to stop investors buying their companies up like peanuts.

[Loops]

Dont they have to issue a report on currency reserves eg an m1 or something to be in compliance with the IMF?

They can set it to whatever they want yes but it would be stupid to do something irrational. Do you think the government of Iraq is stupid?


The opening of the isx is not imminent. I havent seen anything telling me there gonna open it anytime soon.

Foreign Investment laws are in place to stop investors buying their companies up like peanuts.

[panhead]

That says a lot more about you than it does about me. ;)

Please refrain from commenting if you arent going to put anything constructive and relevant into this thread. Geez i feel like a mod!:lmao:

"Honey the grown ups are having grown up talkys now go over there and play with your preeety dinars for a while"

So now your telling people to post only constuctive and revelent?
Follow your own advise....so far you posted nothing but your personal
opinon with nothing to back it up.

[Adster]

Dont they have to issue a report on currency reserves eg an m1 or something to be in compliance with the IMF?

They can set it to whatever they want yes but it would be stupid to do something irrational. Do you think the government of Iraq is stupid?


The opening of the isx is not imminent. I havent seen anything telling me there gonna open it anytime soon.

Foreign Investment laws are in place to stop investors buying their companies up like peanuts.

Come on then expert, tell us all what is going to happen. You seem to know it all.

[emile]

Come on then expert, tell us all what is going to happen. You seem to know it all.
I'LL TELL YOU.
after the death of zarqawi us and iraqi intelligence will start to close in on the insurgents. the militia's will be asked to come to the political table to sort out their problems.the insurgents will then go to afganistan to fight their cause there. oil production will rise along with all the other commodities. oil revenue will rise and the currency will rise at the same time. all this by christmas.:happy64: :happy64:

[Loops]

So now your telling people to post only constuctive and revelent?
Follow your own advise....so far you posted nothing but your personal
opinon with nothing to back it up.

Ummm....

My opinion and concept was relevant to this thread and what this board is all about.


How do you back up a concept?

and to be as petty as rietman you spelt advice wrong.

Once again think before you speak.

[Loops]

Come on then expert, tell us all what is going to happen. You seem to know it all.


Well im pretty sure they have to announce their finances to go along with the IMFs requests and to achieve this "transparency" they've been going on about.

This would involve publsihing how much they have in currency reserves.

How will they fight corruption if they dont have to have their finances auditable?

Seeing as how none of you like to answer my questions ill answer them for you. They can't.



Someone on this board has already stated that there are laws on foriegn investment already in place allowing no foreigners to have majority control on any company. I was taking my quote from him.

I was asking you a question adster. Is the ISX opening imminent?

Ive seen nothing about it apart from your propaganda.

Is there a document about it if there is i apologise but i have not seen it.

You people need to stop filling every thread i post in with your garbage.

Im trying to work with the serious members of the board here. Either join in by questioning my points with a reason why i am wrong or jump ship please.

[onenomad]

Noone truly knows what they have in reserves except the CBI. This is a unique situation that has never happened before. They can set the dinar at whatever rate they choose, and they probably already have done and signed it behind closed doors.

With the imminent opening of the ISX the dinar needs to be convertible and be revalued to avoid the country being bought up for peanuts. ;)

I believe they also have to have a tradeable currency to join the WTO (which they just happen to have meetings with the end of june sometime)

[REITman]

Then play it smart and dont start one. :no:

" I believe they also have to have a tradeable currency to join the WTO (which they just happen to have meetings with the end of june sometime)"

Ok! This is a workable statement. What time frame are they looking to join the WTO?

Do we have any deadlines?

Is there a fixed time limit to sort this out before they join the GCC?

Do they have to join after 3.5 years or can it be delayed?

Also do you mean GCC or WTO?

I wouldnt call 3.5 years imminent

I know a guy who just repeats things he hears from other people and tries to pass them off as his own original thoughts.

In fact the dictionary gives one of it's definitions of a Parrot as: One who imitates the words or actions of another, especially without understanding them. I notice how you don't even attempt to change the words of other posters you've read before trying to pass them off as your own.

However I'll go through each of your questions. I don't know why but hey I'm bored right now.

What time frame are they looking to join the WTO?
I'm sure Iraq (if that's who mean by "they") would like to be in now. But that is not their decision to make.

Do we have any deadlines?
Deadlines and Iraq? You have got to be kidding me! :lmao:

Is there a fixed time limit to sort this out before they join the GCC?
Not that any of us knows about. I suppose there will be, however, if Iraq misses the deadline which is almost a certainty they'll have people pulling strings to get the deadline extended. It'll get sorted out and they'll be in the WTO with a fully convertible currency and they'll be in the GCC.

Do they have to join after 3.5 years or can it be delayed?
I suppose they don't have to do anything they don't want to but I'm sure it'll be in their best interest to be in. If they can't meet whatever requirements there will be when the GCC currency comes out I'm sure they'll be able to join at a later date when they meet the requirements.

Also do you mean GCC or WTO?
Earlier when I said WTO that's what I meant.

I wouldnt call 3.5 years imminent
Nor would I. But compared to 2016 before an RV I wanted him to see that his time frame was way to long.

Now go be a good Parrot and go repeat everything as your own.

[Loops]

Well thank you rietman for finally plucking up the decency to answer my questions.

However if i repeat a statement that is relevant to the situation that i have read elsewhere on this board does that make it less true? No.

I didnt try to pass it off as my own i actually said that i read it elsewhere on this forum. Once again your statement is not true. Please refrain from twisting my words to further your agenda.

Here is what your answers came back as by the way.


What time frame are they looking to join the WTO?
I'm sure Iraq (if that's who mean by "they") would like to be in now. But that is not their decision to make.

No specific answer. You should have answered along the lines of when they would be ready to join or be acceptable by the WTO to join.

Do we have any deadlines?
Deadlines and Iraq? You have got to be kidding me! :lmao:

They have no deadlines. Which actually works against your argument of a near future reval and undermines adsters comments of "imminent" Isx opening.


Is there a fixed time limit to sort this out before they join the GCC?
Not that any of us knows about. I suppose there will be, however, if Iraq misses the deadline which is almost a certainty they'll have people pulling strings to get the deadline extended. It'll get sorted out and they'll be in the WTO with a fully convertible currency and they'll be in the GCC.

Stated that I dont know

Do they have to join after 3.5 years or can it be delayed?
I suppose they don't have to do anything they don't want to but I'm sure it'll be in their best interest to be in. If they can't meet whatever requirements there will be when the GCC currency comes out I'm sure they'll be able to join at a later date when they meet the requirements.

It can be delayed. Which equals a longer time frame. Once again undermining your argument for a short term high reval.

A new question is will they be able to/is it likely that they will meet the requirements to join the gcc in time?


Also do you mean GCC or WTO?
Earlier when I said WTO that's what I meant.

Answered satisfactorally. Thank you.

I wouldnt call 3.5 years imminent
Nor would I. But compared to 2016 before an RV I wanted him to see that his time frame was way to long.

Was not a question (+ no solid reasons given to why the time frame was way too long).

So you can see how vague and unsupported your arguments are.

And for your information i do understand what the other people who i've referenced from have said or otherwise how would i know it was relevant to the situation.

And it doesnt really matter if i repeat someone elses statement if it is correct and directly affects this debate.

Just putting 2+2 together.

[markmopar]

With 14 trillion dinars in circulation(??) they could then support a rate of 0.10 to one in 2020.

is the 14 trillion what is in circulation or what was printed?