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Post by Ssmith on Thu Aug 13, 2015 8:48 pm

TNT's own rrrr is more than just your average poet, he also excels in the field of economics.  Just see for yourself!


(guaranteed to be taken from TNT "In Context")

Dansmor wrote
1h ago

if countries are devaluing their currency why would iraq increase theirs? can't put my head around that one

rrrr wrote
49m ago

Dansmor... Iraq's currency has been devalued.... almost worthless... since the 2003 gulf war.. they have more budget reserves than any country in the world. They rank at the top in oil reserves and have an abundance of gold and other precious metals.... the world is moving to an asset backed currency model... Iraq is one on the leaders in the world in assets to back a currency that cost tousands of dinar to buy a loaf of bread..... does this answer your question

Dansmor wrote
40m ago

rrrr...yes, yes I agree, I just don't understand now all of a sudden we are having a currency war when most countries will fair well when iraq rv's their currence


rrrr wrote
33m ago

Dansmor... it's all about positioning... the Global currency Reset (or whatever the purists choose to call it) is a multi-stage event. Whatever position you come out in after the first stage determines your starting position for the next stage.
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Post by FS4Enthusiast on Thu Aug 13, 2015 9:31 pm


Dansmor... Iraq's currency has been devalued.... almost worthless... since the 2003 gulf war..

100% false.  The drop in value started LONG before that, as proven here:

http://www.cbi.iq/index.php?pid=History

As it states, even way back in 1989 it was only worth 54 cents, not the 3+ dollars everyone likes to talk about.  And in 1995 it was worth even less than it is now: 3000 to 1.

Devalued probably isn't the right word either.  It was inflated.  What do you think would happen if the USA started printing 100,000 dollar bills and paying everyone in them?  That's precisely what Iraq did.

they have more budget reserves than any country in the world.

Lol, no.  They have ZERO budget reserves.  Their government is running a DEFICIT, that's why they're borrowing money.  Maybe he meant foreign currency reserves?  Still total BS.  Iraq isn't even in the top 25:

https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves

They rank at the top in oil reserves

Nope, not at the top.  Fifth:

https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves

and have an abundance of gold and other precious metals.

Nope, no evidence for that either.

the world is moving to an asset backed currency model.

No, it isn't.

Iraq is one on the leaders in the world in assets to back a currency

No, they're not.  The US's 15 trillion dollar a year economy is a far more massive asset than Iraq's oil.


rrrr...yes, yes I agree, I just don't understand now all of a sudden we are having a currency war when most countries will fair well when iraq rv's their currence

Listen to this guy.  Iraq is a dirt poor toilet (income per capita of around 5 thousand bucks a year) with a corruption problem, a violence problem, a terrorist invasion happening, a region that wants to secede from them, a government that can barely do anything, but THEY are going to save the world with their hyperinflated currency?  Who does that make sense to?


Dansmor... it's all about positioning... the Global currency Reset (or whatever the purists choose to call it) is a multi-stage event. Whatever position you come out in after the first stage determines your starting position for the next stage.

I don't know what the purists call it, but the non-idiots call it nonsense.  It's a complete fairy tale.  It makes no sense whatsoever.

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Post by ReapAndSow73 on Thu Aug 13, 2015 9:33 pm

OK, I'll make an attempt to explain this - Iraq is on a program rate, they are pegged to a static figure created by the IMF.  For starters, their program rate of 1166 was product of what they call a program devaluation.  Fast-forwarding 13 years - IQD has MASSIVELY devalued due to OVERPRINTING, and the overprinting does not disappear with some, 'note count reduction.'  CBI issuing bonds is MORE debt, increasing M1.   The M1 of IQD is $90T. 

They do NOT have more budget reserves than any country in the world - their M2 figures are ranked 18th.  The world may indeed more towards some formulaic financial model to include assets - but fiat will 100% absolutely, positively remain.  No nation, no political structure, no central planner would, 'reset' the financial system in order to remove fractional reserve banking.  Not a chance.  21st-century welfare and warfare require central planning and 'control' (expanding/contracting) of money supply.  SDRs may well replace a 'solo' USD for global payments.  BRICS created an end-around SWIFT payment clearinghouse, but it's STILL FIAT.

RRRR is parroting what he/she/it heard from gurus with an agenda.  He/she/it has no original thoughts on the matter, and is factually inaccurate.  Fact remains that a currency cannot increase 35000% overnight and expand their M1, there is no mathematical model that exists that can support it.
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Post by dwm007 on Thu Aug 13, 2015 9:41 pm

Global currency reset, Lol. I love that one! All the countries in the world are hard at work on it as we speak and they will soon all come to an agreement. Never mind it would be impossible to get more than two countries on the planet to agree that the Pope is Catholic let alone coming to a monetary reset agreement (and doing it in secret no less)!

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Post by Kevind53 on Thu Aug 13, 2015 11:14 pm

@ssmith wrote:TNT's own rrrr is more than just your average poet, he also excels in the field of economics.  Just see for yourself!


(guaranteed to be taken from TNT "In Context")

Dansmor wrote
1h ago

if countries are devaluing their currency why would iraq increase theirs? can't put my head around that one

Simple, other countries are devaluing their currencies in order to gain a competitive edge with the cheap products they export. Not that Iraq is likely to significantly increase the value of their currency anytime soon, but even if they were one has nothing to do with the other.

rrrr wrote
49m ago

Dansmor... Iraq's currency has been devalued.... almost worthless... since the 2003 gulf war.. they have more budget reserves than any country in the world. They rank at the top in oil reserves and have an abundance of gold and other precious metals.... the world is moving to an asset backed currency model... Iraq is one on the leaders in the world in assets to back a currency that cost tousands of dinar to buy a loaf of bread..... does this answer your question


Only they are not ... In fact, they have a BUDGET deficit this year and have had to borrow money form the IMF. They do have a healthy currency reserve, but to say it is more than any other country is wrong. A quick review showed they are ranked 30th at best, in fact their Saudi neighbors have a ten times larger reserve. Likewise for oil reserves, where they rank 5th in proven reserves. The assertion that they are a leader in assets is equally fallacious, other than oil, they have very little, phosphates, gypsum, silicates, some iron, copper and other metals, but no gold, at least not in commercial quantities, and no diamonds, uranium or any other high value ore you care to name. Fortunately, it makes little difference since there is no change to asset based currency in the books, and no BASEL III did not mandate it. And it's thousands.. 


Dansmor wrote
40m ago

rrrr...yes, yes I agree, I just don't understand now all of a sudden we are having a currency war when most countries will fair well when iraq rv's their currence

Simple, it's not going to happen ... oh and it currency....


rrrr wrote
33m ago

Dansmor... it's all about positioning... the Global currency Reset (or whatever the purists choose to call it) is a multi-stage event. Whatever position you come out in after the first stage determines your starting position for the next stage.


Or not, since the GCR is pure guru poo poo.

BTW Iraq should be capitalized since it's the name of a country.

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