Thread: My theory on the budget and new value of the dinar

Hello everyone. I finally decided to post. I have been lurking around many message boards for some time now. I am friend of Cyber Khan. I felt this was a post I wanted to touch on. here is how I read the budget announcement ( don't forget translation problems)

Baghdad, Feb 8, (VOI)- Iraq's Parliament approved on Thursday an ID 42,640,000 million (USD 32,200 million) FY 2007 budget.

ID 42,640,000 million = 42.64 Billion
US .....32,000 million = 32 Million

Now this could be a good thing since for example the state of NJ has a budget of 30 billion or so..and there is no way they are going to run Iraq on that amount. It can still be 42.64 Billion ID but with a different value (our beloved revalue) Now Let's say for the sake of argument that Iraq is comparable to Iran. Iran brings in and runs its economy on 50 Billion US they get from oil a year. OK now for some hard core math to get a ball park figure on the new value.... bare with me please...

1usd = 1286 id
2007 budget = 32million US/42 Billion ID
Do some algorithmic math take your 42 billion dollar budget and your 50 Billion in oils sales =

42 10to the 9th
50 10 to the 9th = around .84 Cents for our new value.


Well that's my new theory anyway



-Lex

That Sounds About Right To Me.....................

its a good theory i like it

Originally Posted by Lex

Hello everyone. I finally decided to post. I have been lurking around many message boards for some time now. I am friend of Cyber Khan. I felt this was a post I wanted to touch on. here is how I read the budget announcement ( don't forget translation problems)

Baghdad, Feb 8, (VOI)- Iraq's Parliament approved on Thursday an ID 42,640,000 million (USD 32,200 million) FY 2007 budget.

ID 42,640,000 million = 42.64 Billion
US .....32,000 million = 32 Million

Now this could be a good thing since for example the state of NJ has a budget of 30 billion or so..and there is no way they are going to run Iraq on that amount. It can still be 42.64 Billion ID but with a different value (our beloved revalue) Now Let's say for the sake of argument that Iraq is comparable to Iran. Iran brings in and runs its economy on 50 Billion US they get from oil a year. OK now for some hard core math to get a ball park figure on the new value.... bare with me please...

1usd = 1286 id
2007 budget = 32million US/42 Billion ID
Do some algorithmic math take your 42 billion dollar budget and your 50 Billion in oils sales =

42 10to the 9th
50 10 to the 9th = around .84 Cents for our new value.


Well that's my new theory anyway


-Lex

The ratio is right but the amounts are off. You need to add 6 zeros and you only added 3 so:

ID 42,640,000 million = 42.64 Trillion
US .....32,000 million = 32 Billion

Originally Posted by greatstuff

The ratio is right but the amounts are off. You need to add 6 zeros and you only added 3 so:

ID 42,640,000 million = 42.64 Trillion
US .....32,000 million = 32 Billion

Unfortunetly if it is Trillion then I do not see a revalue happening, not this year anyway. Think if the IQD revaules 1 to 1. There is no way the budget would be equal to 42 Trillion USD. The budget for the US is only 2.9 Trillion. And with my. If it is 42 Billion and I am right about the value being .84 cents, the budget would be equal to 35,280,000,000. Which I believe for now until there is more growth, they can run the country on that. But there is no way the budget will be 14 times that of the US

Originally Posted by Lex

Unfortunetly if it is Trillion then I do not see a revalue happening, not this year anyway. Think if the IQD revaules 1 to 1. There is no way the budget would be equal to 42 Trillion USD. The budget for the US is only 2.9 Trillion. And with my. If it is 42 Billion and I am right about the value being .84 cents, the budget would be equal to 35,280,000,000. Which I believe for now until there is more growth, they can run the country on that. But there is no way the budget will be 14 times that of the US

I like your theory, but I can top that. MY theory: Wake up one morning and find that the RV has happened and OMG, the rate is higher than I expected. Shout woot, woooot, WOOOOOOOOOOOOOOOT. Off to the bank.

That is me dancing while leaving the bank
Ya Just Gotta Wait.

I really don't think that looking for clues in these numbers is very useful. One minute, they announce a scholarship of 10,000 dinar (about $7.76) and, the next, they announce another thing with a realistic value at today's rate. I don't know if they're confusing the issue on purpose, or if they just keep changing their minds. Whatever they do, I'm sure they will compensate for what they thought they'd do! lol Or maybe they have it fully planned and they're just keeping us guessing.

Anyway, I'll take it however it comes. They have actually said they're going to put the value back up where it used to be - it's just a question of how much and when!

Originally Posted by greatstuff

I really don't think that looking for clues in these numbers is very useful. One minute, they announce a scholarship of 10,000 dinar (about $7.76) and, the next, they announce another thing with a realistic value at today's rate. I don't know if they're confusing the issue on purpose, or if they just keep changing their minds. Whatever they do, I'm sure they will compensate for what they thought they'd do! lol Or maybe they have it fully planned and they're just keeping us guessing.

Anyway, I'll take it however it comes. They have actually said they're going to put the value back up where it used to be - it's just a question of how much and when!

you have a solid point....i too remember the article about a 10000 dinar scholarship

they passed the budget and it is 42,640,000 which is 32,200 million in us dollars

Originally Posted by Lex

Unfortunetly if it is Trillion then I do not see a revalue happening, not this year anyway. Think if the IQD revaules 1 to 1. There is no way the budget would be equal to 42 Trillion USD. The budget for the US is only 2.9 Trillion. And with my. If it is 42 Billion and I am right about the value being .84 cents, the budget would be equal to 35,280,000,000. Which I believe for now until there is more growth, they can run the country on that. But there is no way the budget will be 14 times that of the US

They will simply adjust the budget. That is why they announce the figures in dinar and dollars. The dollar amount will remain static. BTW I think the budget is 32 Billion Dollars.