Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

by **Ponee** Sun Jun 22, 2014 2:17 pm

Central Bank Governor: Dinar strong despite the security situation

The governor of the Iraqi Central Bank and the Agency Abdel Basset Turki in a press statement that "the security situation in the country will not greatly affect the Iraqi dinar, attributing the cause to the power of the Iraqi dinar and the precautions that support it.

The governor of the Iraqi Central Bank that "the bank's management studied and researched the course of the security situation experienced by the country and its impacts on the financial situation in the country."

He added that "the existing foreign currency reserves at the Central Bank and of 70 billion dinars can control the exchange rate of the dinar against the dollar."

And noted that "cash reserve is able to support the exchange rate of the dinar, which currently stands at 1200 dinars per dollar so there is no fear on the dinar at the moment.

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Falestiqama.com%2F&sandbox=1

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Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE Lens6048942_1248327148bugs_bunny

THE FOLLOWING IS IMO : BY GURU DOC

THE MORE I STUDY THIS ARTICLE THE MORE INTERESTED I BECOME !

MR. T CONFIRMS THAT SECURITY WILL NOT HAVE ANY NEGATIVE IMPACT ON THE CURRENCY BUT HE GOES ON TO SAY THAT THE RECENT SECURITY PROBLEM IN IRAQ IS A RESULT OF THE GREAT POWER OF THE IRAQI DINAR AND THE NEED TO PROTECT IT'S VALUE !! THIS IS MORE THAN HUGE TO ME !

HE THEN SAYS, THE CBI HAS STUDIED THE COURSE OR DIRECTION OF THE SECURITY ISSUES AND IT'S IMPACT ON THE CURRENCY !

HE THEN GOES ON TO CONFIDENTLY STATE THAT THE CBI'S FOREIGN CURRENCY RESERVES AND 70 BILLION DINARS CAN CONTROL THE RATE BETWEEN THE DOLLAR AND THE DINAR !! GUYS !! DID YOU JUST MISS THAT ? TWO VERY IMPORTANT THINGS HERE TO NOTE. FIRST HE SAYS FOREIGN CURRENCY RESERVES IN GENERAL WITHOUT AN AMOUNT !!! SECOND HE SAYS THAT THEY HAVE 70 BILLION DINARS !! GUYS !! DO YOU GET WHAT I GET ???? IT APPEARS HE IS TALKING ALREADY AS IF THEY HAVE ALREADY DROPPED THE ZEROS !!! BINGO !!! MY PERSONAL TAKE HERE IS WE ARE NOW IN POST ZERO MODE BASED ON THESE COMMENTS !! YOU SEE IT DOESN'T MATTER THOUGH UNTIL THE RATE GOES LIVE AGAIN !! LIKE I TOLD YOU MANY TIMES THE TRUE RATE OF THE DINAR ENDED ON LAST THURS.. OZ IMMEDIATELY MOVED THE RATE TO 1116.9 AFTER NORMAL TRADING HOURS!! MMMM AS FAR AS WE KNOW AT THIS POINT I BELIEVE THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE !!! WOOO HOOO !!! AGAIN HOW THEY TALK MAKES A DIFFERENCE AND WHAT THEY DON'T SAY SPEAKS LOUDLY TO ME ! THERE IS NO MENTION OF THE GOLD, ONLY FOREIGN RESERVES AND DINARS GUYS !! REALLY ?? 70 BILLION DINARS IS GOING TO CONTROL THE RATE BETWEEN THE DOLLAR AND DINAR ? REALLY ? AT 1166 MMMM NOT !!! MAYBE I'M MISSING SOMETHING HERE BUT I DON'T THINK SO !!! IF I'M RIGHT IT WON'T MATTER WHO WILL BE THE NEXT PM BECAUSE THIS WILL HAPPEN AND HAPPEN ON TIME I BELIEVE ! WHAT TIME ? WELL, IT APPEARS BEFORE JULY 1ST.

GUYS WE ALSO HEARD YESTERDAY IN ANOTHER ARTICLE THAT SISTANI SAID THERE WERE TIME LINE DEADLINES TO MEET AND TO HURRY ON PICKING THE NEW PM !! NOW WE MAY KNOW WHY HE SAID THAT !!
THIS POST IS NOT TO GIVE FALSE HOPE BUT TO CALL THINGS AS I SEE THEM RIGHT ? OUR TEAM IS A GREAT TEAM AND NO ONE IS A HERO, WE ALL JUST CONTRIBUTE THE BEST WE CAN. I HAVE GAINED A GREAT DEAL OF KNOWLEDGE FROM THIS TEAM, SO THANK YOU ALL VERY MUCH. NOW LET'S SEE HOW THIS PLAYS OUT. IF I'M RIGHT WE WILL SEE THE ZEROS DROPPED BEFORE THE DINAR GOES LIVE AGAIN ON THE MARKET !! BLESSINGS TO ALL ! DOC

OF COURSE THESE ARE MY OWN THOUGHTS AND OPINIONS !~DOC~

by **Kevind53** Sun Jun 22, 2014 3:57 pm

I think Doc is grasping at straws ... especially considering the quality of translations from Goggle or Bing translator. In fact, Bing delivers a slightly different result, but one that makes more sense contextually:

Central Bank: security situation will not affect the Iraqi dinar, an expert says. Foreign currency will be stored

Range/the press

The Iraqi Central Bank, said on Thursday that the security situation in the country "will not have a major impact on the Iraqi dinar", attributing the reason to the "power of the Iraqi dinar and the precautions that support", with a financial expert pointed out that the turnout of Iraqi citizens to hoard hard currencies would be "temporally", the Governor of the Iraqi economy to balance the dinar per covered with 1.3% of the dollar which "once again a third."

He said the Iraqi Central Bank Governor Abdel Basset Turki said in an interview with the (range), the CBI functions according to law is the preservation and stability of the dinar against other currencies ", stating that" the World Bank has examined and discussed the current security situation in the country and their impact on the financial situation in the country. "

He said "what is Turkish from foreign currency reserves at the Central Bank would be to control the dinar exchange rate against the dollar," he said, adding that "the cash reserve for Iraqi dinar amounts to 70 billion dollars and that the Central Bank is able to support the dinar exchange rate, which currently stands at 1,200 dinars to the dollar, so there is no fear for the dinar at the current time."

The financial expert said Mazin Al-Khafaji told the (term), that "there is a very small rise in the dinar exchange rate against the dollar due to the Iraqi citizens and nature in such matters as these apply to the storage of savings and of the most appropriate stores has a foreign currency to help it in case something happened in the country", adding that it would be temporary and cannot last for long because of the nature of the financial transactions of Iraq. " Khafaji added that "increased demand for the dollar, there will be a rise in the dollar exchange rate dinar, and here comes the role of the Central Bank, which will try to work on growing sales of the dollar in the currency auction has not to exploit the current situation and the rise of the dollar against the Iraqi dinar". Khafaji said "there are other things that keeps the Iraqi dinar and the economy in General in such circumstances, as the reserves of the Central Bank and the export of Iraqi oil."

Khafaji said "the dinar is covered by Central Bank reserves by 1.3 percent to Iraqi dinars and covered a third of the US dollar as well as the fact that Iraq is the oil export which would secure regions of the South and so would be an abundance of dinar against the dollar seen during operations to sell oil on the world market."

The Iraqi markets are experiencing a marked increase in the prices of goods and food since the first day of the fall of the city of Mosul, however, the terrorist organizations, which are called citizens to buying some basic foodstuffs for fear of depletion of storage as well as storage of amounts in foreign currency (USD).

http://www.almadapaper.net/ar/news/466731/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D8%A3%D9%88%D8%B6%D8%A7%D8%B9-%D8%A7%D9%84%D8%A3%D9%85%D9%86%D9%8A%D8%A9-%D9%84%D9%86-%D8%AA%D8%A4%D8%AB%D8%B1-%D9%81%D9%8A
Sorry Doc .. you lose!

by Catfish1927 Sun Jun 22, 2014 4:10 pm

DOC wrote:AGAIN HOW THEY TALK MAKES A DIFFERENCE AND WHAT THEY DON'T SAY SPEAKS LOUDLY TO ME !

It is a freakin translation! How they talk and what they say? Duh! You can read whatever you want into most of those article translations. Go ahead though, make yourself sound so important. I am sure it makes you feel better.

by **Kevind53** Sun Jun 22, 2014 4:38 pm

Whoever you are, what you say must be considered in context. With that said, what makes more sense in context.

Doc/Goggle wrote:THE RECENT SECURITY PROBLEM IN IRAQ IS A RESULT OF THE GREAT POWER OF THE IRAQI DINAR AND THE NEED TO PROTECT IT'S VALUE

or

Bing wrote: the security situation in the country "will not have a major impact on the Iraqi dinar", attributing the reason to the "power of the Iraqi dinar and the precautions that support"

Same article, two translations, two totally different meanings, only one of which makes real sense.

by **catman** Sun Jun 22, 2014 5:39 pm

I see many posts talking about the dinar being backed by foreign reserves and gold. Perhaps, at the present rate, there is indeed a decent backing for the dinar, but if/when they RV (assuming to at least 1 to 1) their reserves won't amount to a hill of beans.

by **Kevind53** Sun Jun 22, 2014 10:31 pm

You would be correct if there was a 1 to 1 ratio to reserves, but under the fractional banking system that is not the case. I don't pretend to know how they calculate it, but I played with the numbers a while back using the average currency to reserve ratios of developed countries. I do not remember the exact results, but it looked to me like 1 to 1 was possible.

by **catman** Mon Jun 23, 2014 2:28 am

You may be correct on being able to do it using the same ratios as other fiat nations, but what I keep seeing are claims of 100% gold backed, 100% asset backed, etc. Over the last few months I have seen people all excited because Iraq has 90 tonnes of gold. Well whoopie, at today's rate that is less than 4 billion dollars.

by **Kevind53** Mon Jun 23, 2014 7:44 am

I know, but that ain't gonna happen. I have studied that whole scenario and find absolutely nothing in Basel III or anywhere else to even remotely substantiate it. In fact I find rather the opposite, good reasons why it will never happen. Consider also the proponents of it, Okie, Tony, etc ...

by **Ponee** Mon Jun 23, 2014 8:48 am

Kevind53 wrote:Whoever you are, what you say must be considered in context. With that said, what makes more sense in context.
Doc/Goggle wrote:THE RECENT SECURITY PROBLEM IN IRAQ IS A RESULT OF THE GREAT POWER OF THE IRAQI DINAR AND THE NEED TO PROTECT IT'S VALUE

or
Bing wrote: the security situation in the country "will not have a major impact on the Iraqi dinar", attributing the reason to the "power of the Iraqi dinar and the precautions that support"

Same article, two translations, two totally different meanings, only one of which makes real sense.

Kevin, that is an EXCELLENT example of the differences in translations and how we should be very careful putting too much stock into one article/translation. THANKS A BUNCH !!!

by **Kevind53** Mon Jun 23, 2014 10:51 am

That's why I try to look at articles in both.

by **FS4Enthusiast** Mon Jun 23, 2014 2:51 pm

Kevind53 wrote:You would be correct if there was a 1 to 1 ratio to reserves, but under the fractional banking system that is not the case. I don't pretend to know how they calculate it, but I played with the numbers a while back using the average currency to reserve ratios of developed countries. I do not remember the exact results, but it looked to me like 1 to 1 was possible.

It looked to you like Iraq could have 70+ trillion dollars worth of currency in circulation?

by **Kevind53** Mon Jun 23, 2014 5:10 pm

No, first of all how much is actually in circulation is somewhat a question, IF and I admit it is a big if the CBI has pulled in a significant quantity of dinar that could make a huge difference. Second, I believe to try and use a 1 to 1 ratio of dinar to reserves, is as misleading as the gurus proclaiming 30+ dollar returns. Most, if not all countries do not have close to 100% coverage by their reserves, that's life in the wild and wacky world of fractional banking.

Also please note that I said 1 to 1 was possible, not certain nor even likely. I have explaind my logic before on more than one occasion, and I do not have time now to dig up and go back over it all, especially for someone who has already made up their mind.

by **FS4Enthusiast** Tue Jun 24, 2014 9:12 am

Kevind53 wrote:No, first of all how much is actually in circulation is somewhat a question

Not really. There are many many many trillion in circulation. That's a fact.

Kevind53 wrote:Second, I believe to try and use a 1 to 1 ratio of dinar to reserves, is as misleading as the gurus proclaiming 30+ dollar returns. Most, if not all countries do not have close to 100% coverage by their reserves, that's life in the wild and wacky world of fractional banking.

False, there's no "if not all". Iraq does it. Saudi Arabia does it. I bet there are a lot of crappy middle eastern countries that either do it or are close to it. So no, you can't say it's anything like the gurus talking about 30 dollar returns. The first is not only possible, it is happening. The second is complete nonsense.

Kevind53 wrote:I have explaind my logic before on more than one occasion, and I do not have time now to dig up and go back over it all, especially for someone who has already made up their mind.

That's the point. Your logic doesn't work. 1 to 1 isn't possible. It'd give Iraq more money than the rest of the world put together. Completely impossible.

by **Kevind53** Tue Jun 24, 2014 5:39 pm

You would be right if M0 was only cash in circulation, but it is cash in circulation, cash held in the central bank, and any other rapidly convertible assets. What we don't know is how much is in circulation and how much is held by the central bank. Based upon news reports over the last several months I suspect that a lot of it is in the custody of the CBI. No, I can't prove it, but neither can I disprove it. However the plethora of articles complaining about shortages of currency could point that way. As I indicated, but you chose to ignore, I do not believe a 1 to 1 ratio likely, only that there is an outside chance ... But you've already made up your mind so believe what you want ... have fun.

by **FS4Enthusiast** Tue Jun 24, 2014 5:47 pm

Kevind53 wrote:You would be right if M0 was only cash in circulation, but it is cash in circulation, cash held in the central bank, and any other rapidly convertible assets. What we don't know is how much is in circulation and how much is held by the central bank. Based upon news reports over the last several months I suspect that a lot of it is in the custody of the CBI. No, I can't prove it, but neither can I disprove it. However the plethora of articles complaining about shortages of currency could point that way. As I indicated, but you chose to ignore, I do not believe a 1 to 1 ratio likely, only that there is an outside chance ... But you've already made up your mind so believe what you want ... have fun.

Even if the ONLY dinar on the planet was the dinar that Dinar Trade sold to speculators in 2011 alone (~500 billion), it couldn't be 1 to 1.

And who's talking about M0? Look at M1 or M2, which DO NOT include "vault cash" (held by the CB).

I haven't "chose to ignore" anything. I'm pointing out that you're wrong. I understand you think it unlikely. You're wrong. It's not unlikely, it's completely impossible.

I can disprove it, easily: look at the CBIs financials. Look at the MASSIVE number of eBay auctions for dinar. Look at the trillions sold by the dealers over the years. Look at the fact that 25,000 dinar notes even exist. Use some common sense and realize that Iraq isn't going to RV their currency if, as you say, it's become so scarce inside their own country. Why would they? Sell it all to foreigners then increase it in value so they can give away their foreign currency reserves? That's ridiculous.

You spot the gurus for the scammers that they are, yet you've still bought into the scam itself.

by **Kevind53** Tue Jun 24, 2014 7:25 pm

M1 and M2 still include reserves. Reserves include cash held by the CBI. As I said one of the problems is we have only guesses. We have no way of knowing how much dinar has actually been sold by the dealers, nor do we know how much of the dinar on e-bay is recirculated, I suspect a lot. We do not know how much dinar is circulating on the street, or how much is held by private investors. In the end, we do not have enough information to make any sort of absolute determination, only discuss probabilities.

Will it make on to one? Not likely, but a distant possibility. More than that? No Way! But even is it does not, we should still see a profit eventually if the whole thing does not blow up and the region descend into uncontrolled tribal warfare, a distinct possibility. I got into this knowing it was high risk, and I still consider it high risk, but there is a reasonable chance of a nice profit, and face it, even at say 1/2 a cent/dinar or 1/4 cent I walk away with a nice profit.

I realize you are the arbiter or all truth dinar, but I'll stick to my guns ... I'm done talking

by **FS4Enthusiast** Wed Jun 25, 2014 9:50 am

Kevind53 wrote:M1 and M2 still include reserves. Reserves include cash held by the CBI. As I said one of the problems is we have only guesses. We have no way of knowing how much dinar has actually been sold by the dealers, nor do we know how much of the dinar on e-bay is recirculated, I suspect a lot.

M1 and M2 do not include cash held by the CBI.

http://en.wikipedia.org/wiki/Money_supply

Note that only MB includes "notes and coins in bank vaults". Not M0, M1, or M2.

No way of knowing, except the CBI tells us. If you want to be one of the conspiracy nuts that think it's all a massive lie orchestrated by the Rothschilds/Illuminati/George Bush/etc, then that's your prerogative, but there's zero evidence for it and MASSIVE evidence that the money supply is in the many tens of trillions.

1 to 1 isn't a long shot. It's a no shot. Zero chance. It is simply not possible that their money supply numbers in the tens or hundreds of billions that it would require for it to be at all possible.

For your "reasonable chance" 1/2 cent: Why would the CBI allow the dinar to appreciate over 5x (essentially giving money away to foreign currency speculators) when they could instead just increase their money supply by 5x and keep all that money in their local economy (not giving away money to foreign currency speculators).

When's the last time a country RVd their currency by 500%? When's the last time a country floated their currency and it went up 500%? Unless you've got evidence to the contrary, the answer is NEVER. You think there's a reasonable chance that something that has NEVER happened before is going to happen in Iraq, despite the fact that its a war torn crap hole and that it actually would hurt them, not benefit them. Is that a reasonable assumption for you to make? No. Realistic probabilities would be more like:

1 to 1: zero
10 cents: zero
1 cent: zero
1/4 cent: 1 in a trillion
Muddle around in the 1000 to 1 area, quite likely getting worse with the current conflicts: 50/50
Redenominate and seriously screw speculators: 50/50.

Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE

Re: Doc thinks they have ALREADY DROPPED THE ZEROS and BELIEVES THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE