Thread: Iraq/Dinar News. before Febuary 2nd 2006

Originally Posted by Offshore-Wealth.com

Neno I truly appreciate you finding these articles. Especially this last one. I know a few could not believe it was THAT much gold, but here is it....FACT. Add this to what Gloribee has uncovered and we are truly talking $trillions.

Inscrutable, Mike....See, I was not smoking those funny cigarettes

Interesting,

We have all seen the screwed up translations before, and this is a perfect example, as they had to be interjecting that Switzerland has 800M tons in total, not specifically held to back dinar, then or now. Just does not compute given total reserves held to back dinar is only $16B. If there were ever 800M tons of gold just to back old dinar, we all would be in lalaland. Just my opinion.

Good luck to all, Mike[/QUOTE]


80 tons, not 800M tons.

BTW China has about $1trillion in gold reserves as we speak.

Originally Posted by wellwishes

Again...at THAT time, much more gold was required because of the gold standard....not the case today. If that was not the case wouldn't Switzerland still have hundreds of billions in gold?

Do you know what the "gold" holdings of the Swiss national bank are? I am not going to go digging to disprove a wrong theroy that you have, I have given you many links and facts, now it's your turn.

Ijust saw the CBI has dropped another 3 points from 1298 to 1295!!! So is the reval going to happen on the 24th or not?
Benzboy

16 ounces to a standard pound (giving you extra)

2000 pounds to a ton.

32 thousand ounces to a ton.

32 thousand (amount of ounces) times 80 (amount of tons) = two million five hundred sixty thousand (ounces).

Two million five hundred sixty thousand ounces times (US$ 645.00) = 1.6512 billion U.S. dollars (today's rate of $645.00)

The Blog | Bob Cesca: Unsolved Mystery: The Iraqi Hydrocarbon Law | The Huffington Post

TomPaine.com - It's Still About The Oil

For more than four years, the Bush administration and its oil company cohorts have worked toward the passage of a new oil law for Iraq that would turn its nationalized oil system over to private foreign corporate control. On Thursday, January 18, this dream came one step closer to reality when an Iraqi negotiating committee of "national and regional leaders" approved a new hydrocarbon law. The committee chair, Deputy Prime Minister Barham Salih, told Reuters that the draft will go to the Iraqi cabinet next week and, if approved, to the parliament immediately thereafter.

The good news is that the Production Sharing Agreements (PSAs) so hotly desired by the Bush administration and the world's oil companies that appeared in earlier drafts of the law have apparently been removed. The PSAs gave private companies (including foreign ones) control of Iraq's oil production and 70 percent of the profits, specified that up to two thirds of Iraq's known oil reserves would be developed by private companies and locked the government into 30-year contracts.

Unfortunately, the bad news still outweighs the good.

First, the committee has debated the new law in near total secrecy: almost no one—both outside of and within the Iraqi government, including the parliament—has seen it.


But boots on the ground know of the Central Bank's intentions? LOL

Don't stress, there's plenty of time to buy. Support Rolclub, buy your dinars from Iraq dinars Dinar Trade Ask Ali for the exclusive Rolclub discount.

Originally Posted by Inscrutable

16 ounces to a standard pound (giving you extra)

2000 pounds to a ton.

32 thousand ounces to a ton.

32 thousand (amount of ounces) times 80 (amount of tons) = two million five hundred sixty thousand (ounces).

Two million five hundred sixty thousand ounces times (US$ 645.00) = 1.6512 billion U.S. dollars (today's rate of $645.00)

OK....my mistake. At $800 billion in gold at 1980's prices, we are talking about 800 tons which is approx $1.6 trillion at today's prices.

$800 billion gold 1980's no doubt....

Originally Posted by Inscrutable

16 ounces to a standard pound (giving you extra)

2000 pounds to a ton.

32 thousand ounces to a ton.

32 thousand (amount of ounces) times 80 (amount of tons) = two million five hundred sixty thousand (ounces).

Two million five hundred sixty thousand ounces times (US$ 645.00) = 1.6512 billion U.S. dollars (today's rate of $645.00)

Oh dear! We had this discussion a month or two ago. Precious metals are measured in Troy ounces and they are different. A Troy ounce is 14.58333 to the "normal" pound or 12 to the Troy pound. Also, there are short tons (US - 2000 lb), long tons (British - 2,240 lb), and metric tonnes but they're spelled differently. Also, I've heard of Troy tons but they're not listed on the site I'm using right now.

According to the converter, 1 short ton is 29,166.666 Troy ounces and 1 long ton is 32,666.666 Troy ounces.

troy ounce conversion - conversions to and from troy ounces

At 7:00 central on cnbc they said talking about the dinar 355 if you have direct tv 68 i think if u have cable

Originally Posted by wellwishes

OK....my mistake. At $800 billion in gold at 1980's prices, we are talking about 800 tons which is approx $1.6 trillion at today's prices.

$800 billion gold 1980's no doubt....

Come on, I've given you links and mathematical fact and now you spin it from 80 tons to $800 billion? I'm not going to do the math for you but after all the post where you have told me I'm wrong I reserve this post to tell you "No, you are"

Do the math.

Here's the 80's gold price history,Gold Price History - 1980 - London Gold Fix it's almost identical to today's price. So at $800 Billion they would need about 700 tons. I am laughing so damn hard I almost fell out of my chair.

Originally Posted by greatstuff

Oh dear! We had this discussion a month or two ago. Precious metals are measured in Troy ounces and they are different. A Troy ounce is 14.58333 to the "normal" pound or 12 to the Troy pound. Also, there are short tons (US - 2000 lb), long tons (British - 2,240 lb), and metric tonnes but they're spelled differently. Also, I've heard of Troy tons but they're not listed on the site I'm using right now.

According to the converter, 1 short ton is 29,166.666 Troy ounces and 1 long ton is 32,666.666 Troy ounces.

troy ounce conversion - conversions to and from troy ounces

So if we go by short ton we are looking at 29 thousand one hundred and sixty seven ounces, I already said I gave him extra by using the long ton for my math at 32 thousand ounces.