. 8-7-2012 Stryker : "Central Bank: $ 3.25 billion in Iraqi banks rolling average
« on: Today at 04:53:39 PM »Quotedinardetectives - 8-7-2012 Stryker : "Central Bank: $ 3.25 billion in Iraqi banks rolling average. The average circulation of the dollar in Iraqi banks $ 3.25 billion and is filling 80% of the market need."
**$ 3.25 billion and is filling 80% of the market need** "80% of the market need," meaning the IQD in circulation is covering the remaining 20% of the markets needs, this is very telling IMO.
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Take your calculator and put in 3.25 divided by 4 = .8125 OK to check this take .8125 x 5 = $4.0625 billion to cover all the market need.
Now divide that 4.0625 by 5 = $ .8125 or 20% of what the USD does not cover that the IQD needs to cover the market need.
OK, let’s check this one other way; $4.0625 USD billion now represents what it takes to cover 100% of the market needs right. So, then multiply this $4.0625 x 80% and you get the $3.25 billion that this article is talking about.
We then need to take this 20% that this represents in USD $ .8125 or $812 million 500,000 thousand and convert it to dinars, to make it easy take 812.5 x 1166 = 947,375,000 or 947 billion, 375 million, 000 thousand.
So if this simple economics question is answered correctly (and please let me know if you disagree) there is only a little less than a trillion dinars in circulation in country.
With this we may expect a VERY LARGE CHANGE IN THE EXCHANGE RATE. They are talking about what is in the banks on an average cycle but this may not be the amount that is actually in circulation so I need to compare it to what I have known here in the US in some research I did some time ago.
This is from memory so I will go check this tomorrow when I have more time but it will work for this exercise right now. About six months ago I read where we have 1 trillion in circulation with another 2.5 on average in the banks ready to roll into circulation if needed.
Let us say with how the math here adds up from in circulation to what is in the banks ready to go into circulation at any given time that there is another 500 billion dinars in the market on top of the trillion that this article is stating according to my math.
This would put the total average in and out of the Iraqi banks in circulation at 1.5 trillion. Not the 38 trillion that is stated and further proves that they have been sucking in the dinars thru the daily auctions.