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A friend of a relative says it is getting close DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

A friend of a relative says it is getting close

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A friend of a relative says it is getting close Empty A friend of a relative says it is getting close

Post by Ponee on Fri Mar 21, 2014 11:53 am

TNT:

SkiDaddy: Hey guys- I have a friend who has a relative in NY that is a currency broker- he sent her a text yesterday that he was seeing a lot of activity and that this was getting close

Cman419: skidaddy is your friend invested in the dinar/dong?

Skidaddy: Yes, my friend is invested and soon from him means any minute and yes, I believe it lines up with our fearless leader!!

Shonuff: skidaddy ...it was for real they wouldnt kid you would they?

SkiDaddy: no kidding- we are very serious about this- all of us!
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Post by Saint on Fri Mar 21, 2014 12:20 pm

omg  A friend of a relative says it is getting close 3508649203  A friend of a relative says it is getting close 3508649203  A friend of a relative says it is getting close 3508649203  A friend of a relative says it is getting close 3508649203  A friend of a relative says it is getting close 3508649203  A friend of a relative says it is getting close 3508649203  A friend of a relative says it is getting close 3508649203

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Post by Ponee on Fri Mar 21, 2014 12:22 pm

Yep, that is the kind of chit chat in the TNT forum. Funny stuff huh? 

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Post by Saint on Fri Mar 21, 2014 12:38 pm

Yes way tooooooo funny.  Makes me want to   happydance  happydance

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Post by Ssmith on Fri Mar 21, 2014 12:44 pm

Censorship is in force at TNT.  Captured this post yesterday.  I knew it wouldn't stay up long before it was taken down.  Critical thinking isn't allowed over there.  It's long, but does have a lot of valid points. 
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 THE POST FROM TNT:
 
Can someone explain clearly how this guy could be wrong? Just like to hear honest opinions not just hopium



I pulled this from a news article put out by the Alabama Securities Commission (http://whnt.com/2014/03/12/alabama-securities-commission-issues-investor-alert-addressing-bitcoin-iraqi-dinar/)

I'd like honest opinions on as to how this could be wrong and Iraq not be so hyper inflated that the RV could actually take place.
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John Richardson March 12, 2014 at 12:29 pm

For those who don’t understand why the Dinar is a scam:-

The value of pegged currencies including the Iraqi Dinar are derived from how much foreign exchange reserves that country has divided by how many local units of currency it has printed. This is true of ALL pegged currencies – Iraq no exception. The Dinar is NOT backed by oil or anything else – it’s a fiat currency no different to the USD, and is just as unbacked as the USD. Iraq don’t want it backed by oil either!

The Central Bank of Iraq has roughly $80bn of reserves (USD & gold), but it has printed over 87 TRILLION Dinar. 80bn divided by 87,000bn = $0.0008 USD available to “buy-back” each Dinar. This is exactly why the Dinar:USD rate is under 1000:1 to start with. If Iraq suddenly adjusted their peg (RV) 1,000x more, then their $80bn of reserves would be wiped out before even 0.1% of those 87 trillion Dinar were exchanged. It wouldn’t make anyone a “millionaire” – instead every bank in the country would be totally bankrupt overnight when they ALL run out of $ and Iraqi’s plunged into dire poverty!


If Iraq declared the Dinar 1,000x more than the USD, they are also making it 1,000x more expensive for themselves to “buy back” each Dinar in circulation!” This is precisely why people are sucked into this scam – they hear promises of “free money” by scammers, yet literally have no clue how currencies work in reality or ignore the blatantly obvious on the other side of the equation – for you to make 1,000x off Iraq means Iraq will have to spend 1,000x more USD’s buying your Dinar back. And they do not have that. They don’t even have 2x. Forex is a zero-sum game. For A to buy something for 1000:$1 then sell for 1:$1, means B must find 1,000x MORE money to buy back $1:1 which they sold at $1:0.001.

To debunk the morons claiming “oil will back the Dinar”, Iraq sells around $90bn-$110bn of oil per year (depending on oil price fluctuations). In order to acquire enough $ to “back” a stupid $87,000bn money supply (which is more money than the global economy by the way), it would take Iraq 87000 divided by $100bn oil revenue = 870 years! In order to back the absurd “$3.5 rate” it would take 3,045 years. In order to back a delusional $35 rate would take 30,450 years. Trying to “price in” oil reserves that’s sitting in the ground which won’t be drilled for decades is absurd as you’d be double counting – once as reserves and again as actual exports. You can’t “value” the same barrel of oil twice, and currency’s don’t even work like that anyway!

You get the picture… Sorry, but it really IS a scam. You cannot print yourself 3,500x more money – tens upon tens of trillions of banknotes – then “pretend” you haven’t – no one can – and that’s the “RV” argument in a nutshell! The Dinar fell simply because Iraq had 20bn Dinar back in the 1980′s, but have since printed 87,000bn Dinar – not “unfairly” but because of plain and simple inflation. Same reason the USD fell from $25/oz vs gold to over $1,000.

Or should we also “pretend” it’s still $25/oz like Nixon is still president, and that house prices are average $25,000, that a brand new car is just $3,900, that gas is still 36 cents per gallon, etc. A friend of a relative says it is getting close Biggrin

There are sadly just a lot of gullible conspiracy theorists who don’t understand what “inflation” is, and think the price of everything should remain stuck in the 1970′s no matter how much you print – but only for Iraq, all on the back of manufactured hype from a couple of dozen conmen running “conference calls” which they can make up to $10,000 profit per call from “shared revenue” cutbacks from the phone company / call hosting provider…
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