How many have an average of 1,000,000 NID?

[steamer]

How many people WORLDWIDE do you think have (on average) 1,000,000 NID?

[vipor]

I say more than 20,000. My reasoning? There are more than 6,000 members on this forum. There are other forums with their own unknown number of members. Lets say 3/4 of the members on this forum alone own 1M. That's 4,500 members on this forum alone. I'm sure many of those 4,500 members got a friend or family member to purchase NID. That raises it to somewhere in the 13,000 for this forum alone.

[jhize]

If I'm not mistaken ( I might be) there's only 3.4 Trillion in Dinar in circulation. Hmmm.

[kapster76]

where did you see 3.4 trillion in circulation?

[cabrio]

http://www.iraqdirectory.com/files/articles/article053.htm

The Iraqi Central Bank... Six trillion dinars is the net mass of cash in Iraq.

An official source in the Iraqi central bank revealed that the net mass of cash in Iraq reached 6 trillions of Iraqi dinars. The size of circulating cash is 4 trillions dinars.‏
And the source said that the central bank seeks now limitation of inflation that occurred in the time of bygone regime throughout random and unstudied mechanism Of the central bank and that caused a big rise in prices level.‏

He also clarified that the bank managed the reduction of inflation level through last April and hopefully a continuous work will cause eradication of more than 20% of inflation level in order that through coming five years the Iraqi economy enjoys balanced market with active economy.‏
And he pointed that the Iraqi economy is not submitted to budget but to total local product.
The bank now is capable of reinforcement the value of the Iraqi dinar with respect to other currencies.

( Translated from Arabic )

[cabrio]

The only dumb questions are the ones not asked.

And only dumb people ask dumb questions.

[steamer]

The only dumb questions are the ones not asked.

And only dumb people ask dumb questions.

Wow cabrio, settle down! My mistake for asking geeez!

What I meant was SPECULATORS...you know, people planning on cashing in if the dream ever comes true! The fact that x-trillion are in circulation does not mean speculators have all of it does it? Or is that a dumb question too :drunk: ?

[cabrio]

I just thought was a good (funny) response to your footnote saying, i.e., no dumb questions. Just dumb people. I did not mean you were asking a dumb question.

Actually, it is a good question. There are reportedly 4 trillion dinar in circulation, or ~3 billion dollars worth. It is possible their central bank reserves could cover a signficant portion of that to cover conversions requested by us speculators (while the bulk of their currency is used to serve the general population). Just my dumb opinion!

[RET]

Well Dummy me thought you were being a meanie. :lmao:

[DinarDummy]

Hey, watch it! I resemble those remarks!

[fproano]

I found this interesting because this question came from a dinar investor to the Motley Fool,

"Last year I spent about $1,500 for approximately 1.7 million Iraqi dinars. At the moment, one U.S. dollar is worth about 1,450 Iraqi dinars, making my investment worth around $1,170. I've held the currency for more than a year now. Violence in the country has not lessened, oil output is still below Saddam-era levels, and its government still hasn't gotten its act together. My main hope is that one Iraqi dinar was worth about $3 during the 1980s. Even a modest increase in the value of the dinar would result in significant gains. Time will tell if this investment is Foolish or just plain foolish. — B.E., Killeen, Texas
The Fool responds: Speculating in currencies — even those of major, stable nations — has burned many investors. Iraq is an especially unstable place right now. Inflation is just one of many risks facing the currency. Don't look to the dinar's past performance, which is largely irrelevant now. Focus instead on the country's future prospects. Or better still, consider investing in the U.S. stock market. Many of our companies offer international exposure through their global operations. "

Very interesting to tell that person to look at FUTURE PROSPECTS, I think a clue was given in this responce, maybe the IRAQI STOCK MARKET? Then he
goes into the rant about the US Stock market....Hum thanks but I will keep my dinars...
http://www.lvlife.com/2002/04/images/lakelasvegas.jpg
Lake Las Vegas or Bust....

[fproano]

Here is the link to the quote..

http://www.azstarnet.com/business/133652

http://www.azstarnet.com/business/133652

[pvpeacock]

Suggestion: more people might be willing to respond to the poll if it were anonymous (like me). Just a thought.
:huge:

[† Cool Mr. Ice]

I have 500,000 IQD in my freezer and 1,500,000 IQD under my mattress.

...so do I have an average of 1,000,000 IQD ?

...wait, no..... :rolleye03

[dlp]

I found this interesting because this question came from a dinar investor to the Motley Fool,

"Last year I spent about $1,500 for approximately 1.7 million Iraqi dinars. At the moment, one U.S. dollar is worth about 1,450 Iraqi dinars, making my investment worth around $1,170. I've held the currency for more than a year now. Violence in the country has not lessened, oil output is still below Saddam-era levels, and its government still hasn't gotten its act together. My main hope is that one Iraqi dinar was worth about $3 during the 1980s. Even a modest increase in the value of the dinar would result in significant gains. Time will tell if this investment is Foolish or just plain foolish. — B.E., Killeen, Texas
The Fool responds: Speculating in currencies — even those of major, stable nations — has burned many investors. Iraq is an especially unstable place right now. Inflation is just one of many risks facing the currency. Don't look to the dinar's past performance, which is largely irrelevant now. Focus instead on the country's future prospects. Or better still, consider investing in the U.S. stock market. Many of our companies offer international exposure through their global operations. "

Very interesting to tell that person to look at FUTURE PROSPECTS, I think a clue was given in this responce, maybe the IRAQI STOCK MARKET? Then he
goes into the rant about the US Stock market....Hum thanks but I will keep my dinars...
http://www.lvlife.com/2002/04/images/lakelasvegas.jpg
Lake Las Vegas or Bust....


Killeen, Texas - An Army base location - I was stationed there once upon a time.

[jhize]

Can you provide the link that shows TOTAL dinar in circulation. Where am I going with this? In order for a country to revalue their currency, a large determining factor is if they can buy all of their money back if everyone were to dump it. CIA source: Iraq has $8.1 billion in foreign exchange reserves. I found 3.4 Trillion in circulation (could be wrong) divide that by their reserves and you get .419. Any takers?

[DinarEagleRK]

A friend of mine working with KBR recently e-mailed me to say Wells Fargo did in fact make significant purchases of Iraq dinars over the last two years, and Wells Fargo will be one of the banks to exchange (when permitted). Iraqi bankers he knows evidently made these comments, so if this is factual, things are looking great for this investment. Banks don't get involved in a venture such as this unless they have solid plans to capitalize. (If the dinars exchange rate ever reaches .10, banks will make an average of $3000 per million dinar exchanged... Imagine if the exchange rate went higher. Banks will make a killing.:shhh:

[future millionaire?]

Killeen, Texas - An Army base location - I was stationed there once upon a time.
off topic alert=i notice your picture of lake las vegas. do you know if its connected directly to lake mead or was it filled up through a tube. can i take my boat from lake las vegas out to lake mead without having to touch land?

[Jetsa]

Jhize...too many posts on this subject to find....search is your friend:)

[steamer]

All I am attempting to confirm with this survey is that I don't think there are that many speculators (like most of us) that all combined could make any size of a dent to Iraq's reserves. I am thinking the vast majority of the circulated dinar out there is being held by BIG TIME, long term investors (and countries that forgive debt) that are holding NID for the LONG HAUL...and Iraq knows it! Upon reval, when folks like most of us that are holding less than 10,000,000 NID all run to the bank to exchange, it will be like a little burp to them. JMHO. So, BRING ON THE 1:1!!!
Steamer

[$ONEDAYSOON$]

thank you steamer, I agree.

[vipor]

Heck, I'm on THAT bandwagon. Bring on the 1:1. :happy64: :happy64: :happy64:

[peakoil]

thank you steamer, I agree.

Steamer, good deduction, count me in too!!:happy64:

[TiredOfWork]

All I am attempting to confirm with this survey is that I don't think there are that many speculators (like most of us) that all combined could make any size of a dent to Iraq's reserves. I am thinking the vast majority of the circulated dinar out there is being held by BIG TIME, long term investors (and countries that forgive debt) that are holding NID for the LONG HAUL...and Iraq knows it! Upon reval, when folks like most of us that are holding less than 10,000,000 NID all run to the bank to exchange, it will be like a little burp to them. JMHO. So, BRING ON THE 1:1!!!
Steamer
Ok, let me understand this...you get a 1.5% response from registered members, not visitors, only those registered, you have no way to know if anyone is telling the truth, you have no idea who the supposed 'long-term' investors are or what, if anything, they hold, and from all that you conclude that it will be a 1:1 reval? Hahahaha, and to think of all the time and money people spend going to school, when they can just make stuff up and all the world will be fine! :lmao: :lmao:

[steamer]

Ok, let me understand this...you get a 1.5% response from registered members, not visitors, only those registered, you have no way to know if anyone is telling the truth, you have no idea who the supposed 'long-term' investors are or what, if anything, they hold, and from all that you conclude that it will be a 1:1 reval? Hahahaha, and to think of all the time and money people spend going to school, when they can just make stuff up and all the world will be fine! :lmao: :lmao:

Actually, this is just my opinion and so you know, I know that I have no idea what the fat I'm talking about...but thanks for pointing that out. Then you have guys like DaveDinar who actually have what seems to me to be well thought out factual figures and his perspectives are LMAO'd too. It's a very interesting world we live in...no?

By the way, something for you DaveDinar bashers to consider, there is no flow of positive energy without a negative ground.:wave:

[peakoil]

Ok, let me understand this...you get a 1.5% response from registered members, not visitors, only those registered, you have no way to know if anyone is telling the truth, you have no idea who the supposed 'long-term' investors are or what, if anything, they hold, and from all that you conclude that it will be a 1:1 reval? Hahahaha, and to think of all the time and money people spend going to school, when they can just make stuff up and all the world will be fine! :lmao: :lmao:

No data brought to the table is gospel according to factual data.
He is just giving thought a thought. You should try it sometime Tired of Work. Oh, your theories are waterproof, I forgot.
:happy64:

[TiredOfWork]

You wouldn't comprehend my theories. I thank you, however, for your many enlightening posts that have now given me the insight as to your character and maturity level. I guess it's true what I've heard, you can learn something from almost anybody. :wave:

[steamer]

You wouldn't comprehend my theories. I thank you, however, for your many enlightening posts that have now given me the insight as to your character and maturity level. I guess it's true what I've heard, you can learn something from almost anybody. :wave:

It will be so nice when this NID RV thing finally happens...then everyone can hug and make up! And making up is really the best part...so I'm told :)

[Joe D_inar]

Can you provide the link that shows TOTAL dinar in circulation. Where am I going with this? In order for a country to revalue their currency, a large determining factor is if they can buy all of their money back if everyone were to dump it. CIA source: Iraq has $8.1 billion in foreign exchange reserves. I found 3.4 Trillion in circulation (could be wrong) divide that by their reserves and you get .419. Any takers?
From the total dinar in cir...you need to remove what is in cir in country...Cuz the iraqi's wont be exchanging dinar !!!!

[Hue Mi]

Can you provide the link that shows TOTAL dinar in circulation. Where am I going with this? In order for a country to revalue their currency, a large determining factor is if they can buy all of their money back if everyone were to dump it. CIA source: Iraq has $8.1 billion in foreign exchange reserves. I found 3.4 Trillion in circulation (could be wrong) divide that by their reserves and you get .419. Any takers?How many zeroes are you using in a billion?
How many zeroes are you using in a trillion?

If there are nine zeroes in a billion and there are twelve zeroes in a trillion, it seems the answer is 419.75 in above calculation.

The inverse would be: 1/419.75 = 0.0024.

But, I digress...

[Joel57]

You wouldn't comprehend my theories. I thank you, however, for your many enlightening posts that have now given me the insight as to your character and maturity level. I guess it's true what I've heard, you can learn something from almost anybody. :wave:

Why don't you dazzle us with your brilliance................or is that baffle us with BS???? :rolleye03

Either way, we'd love to hear your theories