LOL, so in effect you are saying the U.S. gave the Iraqis $5B to deposit into a private firm (The Federal Reserve) so Iraq can harvest $100M in inteest each year.
No I am not saying that. The article clearly states that it was Iraqs money that was deposited. It states that the money had accumulated since the introduction of the dinar. Maybe you should look up the word accumulated.
If you have any authority or site that can support your position this would be appreciated.
The article you keep posting proves my point. You simply can't comprehend the meaning.
As far as the M2 is concerned...you are simply making things up as we go here. Any one can see by going to the CBI site as I have posted earlier and see that the value has been going up due to the CBI buying back the Iraqi Dinar to the tune of $1B-$1.5Billion USD.
Yes the value is going up. VERY SLOWLY. I have never denied that they are buying back massive amounts of dinar. They have to buy it back to fund the budget. What they buy back, they turn around and put it right back into the market.
Now the very fact that Iraq is using their $70Billion Oil Revenues for 2008 to buy back Iraqi Dinars on the Open Market Place is an impossible componenet to fit into your suggestion that the Federal Reserve has not received 7.5Trillion in Dinars for the exchange of $5B to be deposited and to aquire $100M in interest each year.
That makes zero sense
Remember also, this exchange for 7.5T Iraqi Dinars for its equivalent of $5B...is an immense confidence builder in the Iraqi DInar.
never happened
Not onlydoes Iraq make enough Oil revenue now to buy back all the MO or circulated physical Dinars in one year by 10Xs over...the Iraq Dinar Inventory is also backed by its equivalent of USD deposited and exchanged into U.S. Treasury Bills.
This has all been talked about before and authority has already been provided contrary to anything you posted.
Also how did you like the article in the New York Times I provided this board which shows the CBI is buying Back the Iraqi Dinar which is contrary to your interpretation of the Iraqi M2? :O)
again... I never claimed they weren't buying it back, but as the CBI financials posted on their site proves, they are putting it and more right back into the system.
Look at it this way. If as you say... they were removing 1.5T dinars a month.... and they were only able to move the rate a couple pips a month... man... that would be a terrible sign for the dinar. That would be a pathetic move for such large removals of currency.
