Fact Finder on the Iraq Dinar

Fact Finder has collected the numbers for Iraq and its neighbors and converted them into their own currency terms. .....The numbers are not what the dinar chat community claims. .....The revaluation MUST deal with the numbers contained in the Broad Money Supply, and the CIA numbers indicate that number is 68.2 trillion dinar. .....That means there are approximately 30 trillion printed dinar, and another 38  trillion dinar locked up in the dinar denominated currency systems regulated by the Central Bank of Iraq. .......Not the kind of numbers that indicate they are capable of performing a revaluation until they have 'lifted the zeros' as Dr. Shabibi has indicated.

Here are a few links to the history of the dinar:

http://lowerdenoms.com/about/iraqi-dinar-history/

http://en.wikipedia.org/wiki/Iraqi_dinar

.....As you can see, the new Iraqi dinar is a product of converting the hyper inflated currencies of the country following the war. .....Thus the New Iraq dinar is hyper inflated, as the CIA data suggests. .....Aside from the war relationship with the US and its allies, this currency situation resembles similar problems dealt with in introducing the Mexican Nuevo Peso  in  1993:

http://en.wikipedia.org/wiki/Mexican_peso

No one really knows what is going to happen, but the common response to countries in this situation is re denomination:

http://en.wikipedia.org/wiki/Redenomination

This information is critical to an unbiased analysis of the dinar revaluation, and should be available to the general public. .....There is plenty of evidence that dinar dealers, chat site administrators, and other 'snake oil' salesmen in this venture are purposefully suppressing the real numbers.

To clarify some of the items listed below, here are the CIA definitions:

Stock of narrow money: also known as "M1," comprises the total quantity of currency in circulation (notes and coins) plus demand deposits denominated in the national currency held by non bank financial institutions, state and local governments, non financial public enterprises, and the private sector of the economy, measured at a specific point in time.

Stock of broad money:  This entry covers all of "Narrow money," plus the total quantity of time and savings deposits, credit union deposits, institutional money market funds, short-term repurchase agreements between the central bank and commercial deposit banks, and other large liquid assets held by non bank financial institutions, state and local governments, non financial public enterprises, and the private sector of the economy.

GDP (purchasing power parity): This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year.

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The figures listed below are reliable data compiled by the CIA and available through open sources. .....Conversions to pertinent country currency rates were accomplished with the posted rates on XE on the date of compilation.

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IRAQ STATS:

Narrow Money Supply(M1)  = 58.4 trillion Iraqi dinar(58,448,600,000,000)

Broad Money Supply  =  68.2 trillion Iraqi dinar (68,197,780,000,000)

GDP  = 147.8 trillion Iraqi dinar (147,806,4000,000,000)

Population = 31,129,225

Current exchange rate  = 1162 Iraqi dinar per dollar

Proven Oil Reserves  =  143.5 billion barrels (143,500,000,000)


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KUWAIT STATS:

Narrow Money Supply(M1)   =  6.5 billion Kuwaiti dinar (6,475,912,000)

Broad Money Supply  =  26.4 billion Kuwaiti dinar (26,402,226,000)

GDP  =  42 billion Kuwaiti dinar (41,958,980,000)

Population  =  2,646,314

Current Exchange Rate  =  .2801 Kuwaiti dinar per dollar

Proven Oil Reserves  =  104 billion barrels (104,000,000,000)


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SAUDI ARABIA STATS:

Narrow Money Supply  =  772 billion Saudi Riyal ( 772,125,000,000)

Broad Money Supply  =  1.26 trillion Saudi Riyal ( 1,258,875,000,000)

GDP  =  2.5 trillion Saudi Riyal (2,537,625,000,000)

Population  =  26,534,504

Current Exchange Rate  =  3.75 Saudi Riyal per dollar

Proven Oil Reserves  =  264.6 billion barrels (264,600,000,000)


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VIETNAM STATS:

Narrow Money Supply(M1)  = 689 trillion Vietnamese Dong (688,926,000,000,000)

Broad Money Supply  =  2.7 quadrillion Vietnamese Dong (2,732,670,000,000,000)

GDP  =  6.3 quadrillion Vietnamese Dong (6,265,248,000,000,000)

Population  = 91,519,289

Current Exchange Rate  =  20,940 Vietnamese Dong per dollar

Proven Oil Reserves  =  600 million barrels (600,000,000)


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UNITED STATES OF AMERICA STATS:

Narrow Money Supply  =  1.9 trillion American Dollars (1,943,000,000,000)

Broad Money Supply  =  12.1 trillion American Dollars (12,140,000,000,000)

GDP  =  15.04 trillion American Dollars (15,040,000,000,000)

Population  =  313,847,465

Current Exchange Rate  =  $1=$1

Proven Oil Reserves  =  19.4 Billion Barrels (19,400,000,000)

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Site link to database stats:

https://www.cia.gov/library/publications/the-world-factbook/geos/iz.html