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 Will The Dinar Be Revaluated?

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UNEEK
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PostSubject: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 9:04 am

Will the Dinar be Revaluated? By Joseph CafarielloWednesday, April 24th, 2013


For a nation that has only recently come out of decades of
dictatorship, war, and mismanagement, Iraq’s currency—the dinar—has been
remarkably stable.

Perhaps too stable. Something is going on with the Iraqi dinar.




(Chart shows dinar per $1 USD. Descending plot lines indicate dinar strength.)




After a
gradual strengthening from 2007 to 2009, the Iraqi government decided
it wanted a weaker dinar in early 2010, and the currency has remained
remarkably stable ever since.

A couple of months ago, however,
the currency abruptly strengthened against the USD, as can be seen by
the sharp drop at the far right. Immediately, the Central Bank of Iraq
scrambled to weaken the dinar back to 2012 target levels.

Why?
Isn’t it supposed to keep strengthening? After all, Iraq has the
world’s second largest oil reserves. What ever happened to that highly
anticipated revaluation? Is the CBI deliberately weakening its own
money?

CBI Control

One short sentence
answers all these questions: the Central Bank of Iraq regulates the
flow of money through controlled auctions.

Needless to say,
this is not normal. In most other countries, money can be easily
exchanged into a number of currencies at the will and whim of any
citizen. The exchange rates are allowed to move freely according to
the forces of supply and demand, interest rates, etc.

According to Middle East e-paper Al-Monitor:

“Every
day since 2004, the CBI has held an auction through which hard
currency is sold to banks, companies and traders in exchange for
evidence of import and transaction receipts. The auctions aim to
prevent market speculation and stabilize the exchange rate of Iraqi
dinars to the US dollar.”


The purpose of these auctions
is to control the IQD:USD exchange rate by controlling the amount of
USD circulating in Iraq. At these auctions, USD is issued exclusively
to banks, companies and traders for the purpose of conducting business
transactions with foreign entities (ie: importers, securities traders,
banks, etc).

By controlling the amount of USD available in Iraq,
the Iraqi government controls the value of the USD relative to its own
currency, thereby stabilizing the dinar. It is as close as you can
get to an outright currency peg.

Cracking Down on Auction Abuses

Things were going really great for years, until evidence turned up
that some buyers at these auctions were falsifying their transaction
receipts, enabling them to purchase more USD than their business
activity legitimately entitled them to have.

The government
believes much of the excess dollars purchased were smuggled across the
border into Iran, which has a shortage of hard international currency
due to sanctions. Money laundering and black market demand account for
the remainder of auction abuses.

When it came to light earlier
this year that more USD had made it into circulation than was
officially thought, the value of the USD relative to the dinar abruptly
dropped and the dinar rose.

The supply/demand
ratio dictates that the more supply you have of something, the cheaper
its value. More USD in circulation than previously thought meant a
cheaper USD, which meant a stronger dinar. Hence the sudden inverted
spike at the right of the chart.

Following the recent arrest of
the CBI’s former governor, Sinan al-Shabibi, the CBI has introduced
additional auction controls, as Al-Monitor explains:

“The
CBI prohibited any bank or company with capital of less than $400,000
from taking part in the currency auction. Additionally, all
participants had to submit their [transaction receipts] to the criminal
division in the Ministry of Interior, the economic crime unit and the
money-laundering division of the CBI for approval.”



Reducing the number of buyers at the auctions meant reducing the amount
of USD making it into circulation, strengthening the USD relative to
the Iraqi dinar, and weakening the dinar back to that desired 2012
target level.

Anger Over Weakening Dinar

Iraqi citizens and businesses who do not have dealings with foreign
entities are understandably angered by CBI controls aimed at keeping
the dinar weak. A weak currency means citizens and businesses need to
pay more for goods and services, especially since so many goods are
still being imported from abroad.

Iraqi parliament’s Amin Abbas stressed to Al-Monitor
that the CBI must take “full responsibility for the fall of the …
Iraqi dinar … because of its restrictive measures in granting permits
to exchange companies.” And Mohammed Khalil, an official on Iraq’s
Economic and Investment Committee, accused the CBI of deliberately
“hinder[ing] the flow of US dollars into the market.”

Others are pinning the blame on Iraqi banks, as Al-Monitor informs:

“Hussein
al-Yasiri said some banks have stopped selling dollars to regular
customers and instead have been selling them to exchange companies.
This has prompted Iraqis to buy dollars from the exchange companies at
prices favorable to the companies. The exchanges are not subject to
government monitoring.”


And Iranian involvement is still
suspected by Ahmed al-Alwani, head of the Iraqi parliament’s economic
committee, who believes Iran is supplying Iraqi partners with false
trade receipts in order to obtain USD from the auctions.

But
Ahmed Bureihi, a former senior official at the CBI, denied such
accusations. “Iran has nothing to do with the increased exchange
rate,” he told Al-Monitor. “The CBI sells foreign currency to Iraqi customers to be used in funding trade transactions outside the country.”


“There are Iraqi traders who defraud the CBI and provide counterfeit
documents of virtual imports to Iraq. However … this has nothing to do
with political issues.”

Oil Revenues Spent

For its part, the government has a simple explanation for the dinar’s
weaker value back to 2012 levels: the country spent it down.

“A
former senior official at the CBI [Bureihi] said the rise is linked to
increased government revenue from oil sales, leading to an increase in
government spending,” Al-Monitor explains.

Bureihi
then describes a very logical chain reaction that stems from these
increasing oil revenues, which really is a bona fide explanation. “Oil
revenue increased, which in turn increased government spending.”

“The
increase in government spending means higher per-capita income. [When]
spending increases, there is an increased need for importing goods.
Providing these goods requires an increased demand for foreign
currency, which led to the increased exchange rate [for USD].”


On the dinar’s side of that equation, as more oil is exported, more
revenue is generated, and the nation becomes wealthier “per capita”.


Enabled by this increased wealth, the government starts funding sorely
needed rebuilding and expansion projects on infrastructure, energy,
education, health care, and industry. In so doing, it pumps more of
its local currency into circulation, which in turn weakens it.


This is a valid explanation for the stronger USD and weaker IQD.
However, what the CBI is reluctant to admit is that apart from these
increased oil revenues, the government is controlling the dinar’s
exchange rate by controlling the amount of USD in circulation via its
daily auctions.

It will only let into the economy the same
amount of USD that is leaving the country. “X-amount” pumped in equals
“X-amount” wired out. The balance of USD in circulation stays
unchanged, and thus the exchange rate stays the same.


(Actually, the CBI does have to pump in very slightly more USD than is
going out of the country in order to apply upward lift to the dinar as a
counter to the downward push on the dinar exerted by the increased
spending described earlier. Spending pushes the dinar down, USD
auctions lift the dinar up, cancelling each other out to keep the
exchange rate flat and steady.)

What About the Revaluation?

But what ever happened to that dinar revaluation everyone has been
expecting? Even I wrote about it a couple months back (Dinar
Speculation).

All over the web you will find plenty of investors
who expect the Iraqi government will be forced to revalue its currency
upward. Iraq has the world’s second largest oil reserves, and it is
rapidly increasing its production and exports. The International Energy
Agency recently projected Iraq's oil output to more than double in the
next decade.

So the revenue is there. Unfortunately, so is
the spending. Remember, Iraq is still rebuilding from decades of
dictatorship, war, and mismanagement. The economy is in shambles, and
social services are appalling.

Any money coming in through oil exports is quickly being spent on reconstruction and industry, not to mention its debt burden.

This is why the CBI is going to such great lengths to control the
amount of USD in circulation through auctions. It wants to keep the
dinar cheap. Not too cheap so as to introduce hyper inflation. But
cheap enough to maximize the value of its import income and get as much
construction and labor for its money as it can.

What if it
takes another 5 or 10 years for that revaluation to come? Might there
be better returns elsewhere? Investors have to weigh the pros and cons
and make their own investment choices.

If one still believes
the global economy will once again run full steam ahead, then metals
such as copper, iron, and steel will be in great demand, as will
lumber.

If one still believes the global credit crises are not
over, then precious metals will also be in demand, such as gold and
silver. Who knows, perhaps this recent pull-back is a good entry point;
no one knows for sure.

And there is always the stock market, which is remarkably resilient given the Federal Reserve’s easy money policy. Wealth Daily provides valuable trading information to help you make the right choices for you.

Perhaps the most crucial variable in any investment formula is time.
You can have a sure-fire bet in a stock, gold, or even the Iraqi dinar.
But how much time will you be waiting for it to pay off? Could you
score better returns elsewhere over that same period of time?

Joseph Cafariello LINK

**************************
Greatness lies, not in being strong, but in the right using of strength; and strength is not used rightly when it serves only to carry a man above his fellows for his own solitary glory. He is the greatest whose strength carries up the most hearts by the attraction of his own -- Bryant

“When you judge another, you do not define them, you define yourself.” ― Wayne W. Dyer


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To be believable, one must be credible;
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Kevind53
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PostSubject: Re: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 12:49 pm

Great article ... thanks

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PostSubject: Re: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 2:06 pm

This is going on the assumption that Iraq has something to do with the RV. I do not think they do, because if they did this would have been done because its in the best interest of their country to have a viable currency. Much as this country was set up by the European Bankers, so was Iraq. It was colonized and the people in place are there because they are part of the elite system. Iraq is now under the control of these bankers....TOTALLY.....The only way there will EVER be an RV is if the PTB decide that the pros for them outweigh the cons. I see nothing to lead me to believe anything different. There is ZERO credible evidence coming from a credible source. All information has been proven to be wrong. The roos post and post and NOTHING has ever been proven to be correct by a single poster. We hear about planes, boots on the ground, yada yada.....but things roll on in a business as usual state. And by the way, its wonderful to see you are alive and well UNEEK......
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PostSubject: Re: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 3:27 pm

So, how about those Red Sox, eh?
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alleyrose
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PostSubject: Re: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 6:04 pm

I thought it was white sox?

Thanks for the article Uneek!

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PostSubject: Re: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 6:56 pm

The Whitesox baseball team is located in Chicago, Illinois- The Red Sox are located in Boston, Massachusetts-
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PostSubject: Re: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 7:02 pm

Ohhhhhhh wow 2 teams named after sox, would have to be a male sport hahahahaha! Sorry guys just playing with you LOL!

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PostSubject: Re: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 9:02 pm

And then there is the "old sox", but you can smell them coming.
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alleyrose
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PostSubject: Re: Will The Dinar Be Revaluated?   Thu Apr 25, 2013 9:20 pm

Ewwwwww lol!

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PostSubject: Re: Will The Dinar Be Revaluated?   Fri Apr 26, 2013 12:23 am

i think the proper question should be will there be a civil war before there is a revaluation.as long as m is in power you will never see an rv unless you believe the gurus and fairy tales just plain fact. one quick question for you to ponder. do you believe that in the present state of iraq moon will let them out of chapter 7?this is why the emir of kuaitt has not come to sign papers he does not trust m
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PostSubject: Re: Will The Dinar Be Revaluated?   Fri Apr 26, 2013 12:40 am

Oh really jayzze?? Does this mean this whole dinar thing is a pipe dream and we have been waiting for the bells to chime for no reason?

crybaby

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PostSubject: Re: Will The Dinar Be Revaluated?   Fri Apr 26, 2013 8:51 am

Oh ye of little faith --- just kidding -- anyone that has been holding on for over a year has had faith !! lol

It is a mystery and a precedent - this Dinar / Iraq1 thing -- I am holding - NOT folding -

I feel we are close and I am going to feed the positive and starve the negative!!

Have a Blessed & Blissful Day !!!! Whatever you feed will grow!

**************************
Greatness lies, not in being strong, but in the right using of strength; and strength is not used rightly when it serves only to carry a man above his fellows for his own solitary glory. He is the greatest whose strength carries up the most hearts by the attraction of his own -- Bryant

“When you judge another, you do not define them, you define yourself.” ― Wayne W. Dyer


To be persuasive, one must be believable;
To be believable, one must be credible;
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PostSubject: Re: Will The Dinar Be Revaluated?   Fri Apr 26, 2013 9:03 am

alleyrose think about this if they really wanted to it would have been done already oh forgot about the ptb. m and iran does not want this they can survive very nicely on the us dollar as they have been.for those who think they have to for the people the goi and m could not care because they are stealing them blind. no it might happen but first one of two things will happen m will get killed or a civil war which they are very close to based on m actions. there is no way presently that moon will let them out of chap 7 as long as m is in power. i realize that you might not like what i wrote but unlike the gurus this is all based on fact not hype and bs.
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PostSubject: Re: Will The Dinar Be Revaluated?   Fri Apr 26, 2013 9:33 am

Since Iraq is real, the dinar currency is real, the state of Iraq is real, the international relationships or lack of is real, the need for change is real, the future RV is real.
The dates, rates and predictions.... NOT REAL.

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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 1:47 am

Ponee wrote:
Since Iraq is real, the dinar currency is real, the state of Iraq is real, the international relationships or lack of is real, the need for change is real, the future RV is real.
The dates, rates and predictions.... NOT REAL.

Well sounds like you 'got real."
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 9:52 am

PALMER01 wrote:
And then there is the "old sox", but you can smell them coming.

Palmer01 I like the avatar. Speaking of "old sox" remember Sox and Martin drag racing team. They ran Challengers back in the early 70s
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 10:40 am

Barracudas-Shocked
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aksafeone
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 11:01 am

Well folks, the proof should be in the pudding TODAY. Remember that Okie and others forecast that we should all be at the bank today? Am I right? WELL, where is it 'roos? Put up OR shut up time is here.
I am already seeing that the "ball" is moving again and has been tapped on to Tuesday!!! OH, why does that not surprise me? When is this BS going to stop?
WHEN WE CONVICT SOME OF THE 'ROOS AND/OR SOURCES OF FRAUD. Maybe we ought to include the sites for aiding and abetting. Then it will stop.
Personally I have not believed any information provider information for so long that I "dis-remember" when I did. I am getting tired of the sameo, sameo roller coaster presentations and promises of "Monday." Reminds me of that old song, " MONDAY< MONDAY!"
As to Okie's prediction: How many times has he stated this is going? How many times has he been right? NUFF SAID. Now, Okie, reveal your source because who ever it is needs to be throttled - drag the dude behind your F-4 until he tells the truth. This old "I report what I am told" routine was stale 4 years ago -- time to come clean, wash the laundry, and MOVE ON. Maybe we ought to compose a ditty to the tune of the old "Loco=Motion" song. We could plug in dinar information/dis-information and change loco-motion to "Okie-jokie."
But then again what do I know, I invested in a LONG term currency deal and to date it has lived up to it's expectations.
Time to silence the 'roos and dis-information specialists. When this happens, it does.
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 11:20 am



Substitute words:
Come on EVERYBODY & do the Okie Jokie Motion!
I know you'll see right thru it when you get the notion!
My little baby sister can see thru it with ease
Easier than learnin' your ABC's!
So come on come on & do the Okie Jokie Motion with me!

Yeah!!! I can do a song parody about Okie and NOT get banned!!!

Thanks for the inspiration aks!
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topspin2
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 11:45 am

Well aksa, You feel like most of us do. This blind trust in this guy is obscene. The very fact that he even has a venue to "forcast" dinar information is astounding. Even more astounding is that fact that folks look forward to his posts...Ahhhhh......such is life......
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 11:52 am

Well, according to "souces" Okies is expeeriencing a loss of electricity and will be off the "air" until late this afternoon!! Others are now predicting that "this is our week."
Hmmmmmmmmmmmmmmm, the day is barely half over and already the excuses are pouring in. What does that tell us? AS I SAID: TODAY IS SHOW AND TELL TIME!!!
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 12:38 pm

Regal Beagle wrote:
PALMER01 wrote:
And then there is the "old sox", but you can smell them coming.

Palmer01 I like the avatar. Speaking of "old sox" remember Sox and Martin drag racing team. They ran Challengers back in the early 70s

terbo56

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OH that's right, Plymouth had a faster paint job! raspberry

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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 2:39 pm

I never believe this statement: "It's going to RV on ?"... Why... because NO ONE knows when it will... KISS...
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 4:22 pm

aksfeone you stated we would see some tell tale singna today well we did kuaitt came out andstated the wish iraq well and they should be out by 2014. this was in the papers. this is why the emir never signed the papers in iraq.another article the smart cards should be ready in 2 months do to tech issues. when this happens the need for printing new money is not needed since most things will be electronic.now as long as m is in office you will never see chap 7.why as long as iraq is in chap7 we can send our troops in with iraqs permission this was one of the main reason m wanted us out. now some of you might saythe citizens need this and they do since water electric and food is scarce which is true but do you think the goi cares no as long as they steal and take bribes nothing changes. and lastly m and iramn do not want this .they are very happy the way things are. so tell me with all this and much more will you see an rv soon?
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aksafeone
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 4:38 pm

I said I had gotten into a LONG investment, did I not? As long as m is there and has ANY thing to do with anything - dream on, dream on teenage queen!

Basically m thinks this way, "Here is to me, and here is to thee. If we should disagree, then here is to me and the he-- with thee." Pretty much sums up this dinar thing when m is around, don't ya think?

I think we should quit paying these clowns. They always say follow the money - if the is none then what do they follow? Those of us who have been in this for some time have all the dinar we wish to have already. Those who want to get in should have made up their minds by now. Cut off the supply and what usually happens? Yes, the value increases. Hmmmmmm, the law of supply and demand takes over -- imagine that.
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 5:01 pm

you are correct 6 yrs ago when i got in it was ify at best because it was the midle east. there resources are excellent and logicly speaking it should sky rocket but because of m the chances of civil war is greater then the rv happening. you are correct if the dinars dried up it would be great but forget that. the gurus that pump are like public relation busisness with there hype and bs and they succeed because usual the ones who least can afford to buy dinars keep doing it there the problem. if they would be investigated like they did bh maybe there would be charges against them
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 5:07 pm

I stand corrected. I sure thought they ran a challenger in late 71 thought, but could find not credible proof to support my supposition. Hey wait that makes me a car GURU, absolutely no evidence required.

Dodge did have the faster paint job though. Go ManGo
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 5:32 pm

reagle beagle they ran hemis and wegde hemis in any body they could shove it in the sattelite bodies were real big on hemi and super fast for its time i drove for 2 yrs foe tritech and they were monsters but not like the cars of today
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 6:28 pm

That 440 they had in the 'Cuda wasn't too shabby either!
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 6:40 pm

the 440 had375 hp unless you where lucky to buy one from grand spaulding dodge in chiago then skys the limit. in 1967 i bought a 64 chevy belair with a 427 from motion one of the fastest cars i ever owned
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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 10:03 pm

When I was in HS one of the teachers (the 60 something librarian!) bought herself a Super B. That had the 440 in it, don't remember if it had the six pack or not though .... still that girl could scoot, and pass everything but the gas station. Of course at 27-29 cents a gallon, who cared as long as it was fast ....

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PostSubject: Re: Will The Dinar Be Revaluated?   Mon Apr 29, 2013 10:35 pm

i still have a real mobil gas pump that says high test 33.9 i wish that was today
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PostSubject: Re: Will The Dinar Be Revaluated?   Tue Apr 30, 2013 11:04 pm


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Jayzze
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PostSubject: Re: Will The Dinar Be Revaluated?   Tue Apr 30, 2013 11:13 pm

ponee we re almost there we will be there on ------------- until then remember code orange
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Will The Dinar Be Revaluated?

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