My Ladies 7/7/17

*GOOD MORNING EVERYONE, I WANT TO SHOW YOU SOMETHING I TRY TO DISCOURAGE YOU FOLKS FROM RIDING THE HIGHS AND THE LOWS ROLLER COASTER RIDE. I CAN NOT STRESS ENOUGH HOW UNHEALTHY THAT IS FOR YOU.*

*RIGHT NOW ALL THE BELOVED GURUS HAVE THEIR FAITHFUL FOLLOWING WAITING ON AN ANNOUNCEMENT FROM THE PM AND ARE EXPECTING AN ‘RV” AS SOON AS MOSUL IS TOTALLY LIBERATED IS THAT CORRECT?*

*WELL LET ME ASK THESE GURUS WHAT’S YOUR NEXT LINE OF CRAP GOING TO BE?*

*LET’S LOOK AT THIS FOR STARTERS*

http://www.reuters.com/…/us-mideast-crisis-iraq-mosul-idUSK…


*WHAT IS THE PLAN FOR STOPPING THESE AMBUSH ATTACKS? AND WHILE WE ARE ON THE TOPIC I WAS WONDERING HOW ON EARTH IS THIS LITTLE BAN OF REBELS STILL LEFT IN MOSUL GETTING AMMUNITION TO KEEP THE FIGHT GOING?

WHO IS SUPPLING THEM BECAUSE IF THEY ARE TRAPPED AND CORNERED AND DYING OFF HOW ON EARTH ARE THEY KEEPING THIS GOING ALL THESE MONTHS? THINK ABOUT IT!!*

*NOW TAKE A LOOK AT THIS*

http://reliefweb.int/…/temporary-suspension-un-migration-ag…


*EVERYONE IS ALL EYES ON MOSUL BUT LOOK WHAT’S HAPPENING IN THE REFUGEE CAMPS, WHAT WILL HAPPEN TO THESE PEOPLE WITH OUT FOOD OR WATER?*


*HERE’S WHAT’S GOING TO SPRING UP*


http://www.nbcnews.com/…/deprogramming-children-isis-n780081


*THESE TEENS AND YOUNG CHILDREN WILL TURN RESENTFUL IN NO TIME AT ALL IF THE SITUATION IN 104 DEGREE DESERT DOES NOT GET BETTER REAL SOON*


*SO YOU SEE IRAQ IS A FAR CRY FROM BEING FREE OF ISIS NO MATTER HOW OPTIMISTIC THE PM IS*


*THE COUNTRY HAS TO COME TOGETHER AND PREVENT ANY FUTURE ATTACKS ON VILLAGES AND THAT IS NO WHERE CLOSE TO HAPPENING*

*THERE IS SO MUCH BLACK MONEY OUT THERE AND THESE FUNDS ARE KEEPING ISIS GOING. THESE FUNDS NEED TO BE STOPPED AND I THINK THE CENTRAL BANK HAS A PLAN FOR DOING SUCH A THING*


*I SEE SOME OF THE COMMENTS ON THESE BLOGS WHERE IGNORANT PEOPLE WRITE THEY THINK THE CBI IS JUST MESSING WITH US AS DINAR HOLDERS*


*FOLKS NO ONE IN IRAQ CARES IF YOU HOLD DINAR, THE CBI AND GOI ARE GOING TO DO WHAT IS BEST FOR THE COUNTRY OF IRAQ AND NOT ANY OF YOU*


*FOR NOW THE NOTES EVERYONE HOLDS ARE OK, BUT PLEASE GET OFF THE WAITING ON MOSUL TRIP BECAUSE THERE NEEDS TO BE MUCH MORE THAN THAT FOR THEM TO TAKE THEIR CURRENCY INTERNATIONAL LET ALONE INCREASE THE VALUE*


*PLEASE THE TIME TO TAKE OFF THE GOGGLES IS HERE AND YOU ALL NEED TO APPLY COMMON SENSE*


*DO NOT SELL YOUR CURRENCY AND DO NOT GIVE IT AWAY BUT PLEASE STOP LIVING IN A CONSTANT STATE OF EXPECTATION*


*IF YOU LIFE IS IN SHAMBLES PLEASE TAKE ALTERNATE STEPS TO FIX IT BECAUSE WAITING ON THIS CURRENCY TO SAVE YOU WILL TAKE YOU STRAIGHT TO HELL ON A GREASE POLE AND LEAVE YOU IN WORSE DESPERATE CONDITIONS*


*DO SOMETHING NOW TO FIX YOUR LIVING CONDITION, PUT THE CURRENCY ON A SHELF YOU WILL USE IT ONE DAY BUT THAT DAY IS NOT COMING ANYTIME SOON*


PLEASE FOLLOW US ON SKYPE AND IN OUR BLOG http://www.myladies.co/





7/7/17


Facing defeat in Mosul, Islamic State mounts diversionary attack to the south




Islamic State militants attacked a village south of Mosul, killing several people including two journalists, even as they were about to lose their last redoubt in the city to an Iraqi military onslaught, security sources said on Friday.

The assault on Imam Gharbi village appeared to be the sort of diversionary, guerrilla-style strike Islamic State is expected to employ as U.S.-backed Iraqi forces regain control over cities IS captured in a shock 2014 offensive.

Security sources said IS insurgents had infiltrated Imam Gharbi, some 70 km (44 miles) south of Mosul on the western bank of the Tigris river, on Wednesday evening from a pocket of territory still under their control on the eastern bank.

Two Iraqi journalists were reported killed and two others wounded as they covered the security forces' counter-attack to take back the village on Friday. An unknown number of civilians and military were also killed or wounded.

The fighting forced the U.N.-affiliated International Organization for Migration to suspend relief operations at two sites where it houses nearly 80,000 people near Qayyara, just north of Imam Gharbi, a U.N. statement said.

With water trucks no longer able to reach the sites, the displaced people could run short of water at a time of midsummer temperatures well over 40 Celsius (104 Fahrenheit), it said.

The insurgents were still in control of half the village by Friday evening, security sources said.

In Mosul, IS clung to a slowly shrinking pocket on the Tigris west bank, battling for every meter with snipers, grenades and suicide bombers, which forced Iraqi troops to fight house-to-house in densely-populated blocks.

The Iraqi military has forecast final victory this week in what used to be the de facto capital of IS's "caliphate" in Iraq, after a grinding eight-month, U.S.-backed offensive to wrest back the city, whose pre-war population was 2 million.

But security forces faced ferocious resistance from several hundred militants hunkered down among thousands of civilians in the maze of alleyways in Mosul's Old City.

Mosul was by far the largest city seized by Islamic State in its offensive three years ago where the ultra-hardline group declared its caliphate over adjoining parts of Iraq and Syria.


ASYMMETRIC ATTACKS

Stripped of Mosul, IS's dominion in Iraq will be reduced to mainly rural, desert areas west and south of the city where tens of thousands of people live, and the militants are expected to keep up asymmetric attacks on selected targets across Iraq.

Adhel Abu Ragheef, a Baghdad-based expert on jihadist groups, said Islamic State was likely to carry out "more of these raid-type attacks on security forces to try to divert them away from the main battle", now in Mosul and then in other areas west of Mosul including near the Syrian border still under IS control.

Prime Minister Haider al-Abadi declared the end of Islamic State's "state of falsehood" a week ago, after security forces took Mosul's medieval Grand al-Nuri mosque - although only after retreating militants blew it up.

Months of grinding urban warfare in Mosul have displaced 900,000 people, about half the city's pre-war population, and killed thousands, according to aid organizations.

The United Nations predicts it will cost more than $1 billion to repair basic infrastructure in Mosul. Iraq's regional Kurdish leader said the Baghdad central government had failed to prepare a post-battle political, security and governance plan.

The offensive has damaged thousands of structures in Mosul's Old City and destroyed nearly 500 buildings, satellite imagery released by the United Nations on Thursday showed.

In some of the worst affected areas, almost no buildings appear to have escaped damage, and Mosul's dense construction means the extent of the devastation might be underestimated, U.N. officials said.


(Writing by Maher Chmaytelli; Editing by Mark Heinrich and Robin Pomeroy)



Link

Thanks.

I disagree with one item...I think selling back your currency while you can might be an option for those that are short cash to meet bills or have medical procedures.

Scotchie wrote:Thanks.

I disagree with one item...I think selling back your currency while you can might be an option for those that are short cash to meet bills or have medical procedures.

Completely agree!  If you need cash, the only sensible thing to do is sell - keep a couple of notes if that makes you feel better - but get the cash, because there is NO RV on the horizon!

What if …? (3/23/14)



One of the biggest hurdles to overcome in the dinar investment is the fear of missing out if there really is a historic revaluation of the IQD.  Nobody wants to look back someday and say “I should have bought some” or “I never should have sold”.  “What if they really do revalue back to a dollar, two dollars, three dollars …. ?  Can you imagine how upset you’d be if you passed up a once-in-a-lifetime opportunity like that?”

Sound familiar?  I’ll admit that I struggled with the “what if” question myself.  In fact the reason I held on to a small amount of dinar for the first year or so of this blog is I still considered it possible that they could RV to $.001 or $.002 prior to redenominating so I could still double or triple my money.  It has been a slow and painful process for me to grasp the fact that there’s no money to be made here, and plenty to be lost in the worst case scenario.  The key to freedom from “what if?” is education.  The more I have learned the more confidence I have developed in my decision to sell.

If you’ll study revaluations you’ll discover that they’re typically small adjustments of a few %.  In fact the largest revaluation in history was about 35%.  No currency has ever revalued at 10,000-300,000% like the gurus are talking about.  When you point out these facts some people will say “sure, there’s never been a revaluation this big, but there’s a first time for everything right?”  Well no, there’s not.  There’s not a first time for the sun to rise in the west.  It always rises in the east.  The key to understanding that is through learning how the solar system works.  Once you do nobody will ever be able to convince you that the sun could rise in the west, no matter how good their sources for that intel are.  The same is true with currency revaluation.

The first thing you need to realize about the dinar is that it is classified as a pegged currency.  Now as John Jagerson has pointed out, the only truly pegged currency in the world is the euro.  The pegged currencies of the oil based economies of the Arab world are “de facto” pegs.  In other words they are so tightly managed that they might as well be pegged, but in reality they are managed or “dirty” floats.  The way they maintain stability with their exchange rates is through manipulation of the money supply.  I wrote about this last year in a post called Dirty Float.

Sometimes you’ll hear people in the “Go RV” crowd talking about how Iraq can set the dinar’s value anywhere they want.  “After all”, they reason, “what’s backing the US dollar?  If the US doesn’t have to back their currency why does Iraq?”  The difference is this … the US dollar is a free floating currency.  The market determines the value.  It’s traded internationally and is used as a reserve currency.  The US is considered a very stable country, maintaining the same form of government for well over two centuries now.  Its economy is diverse.  Its military is strong.  Its infrastructure is well developed.  Its people are comparitively well educated.  These factors generate confidence in the dollar, despite the US debt and sluggish economy.  For all of the talk out there about how the dollar is going to crash, the fact is other currencies are losing ground against the dollar.

Take a look at the Japanese yen’s valuation over the past two years.  It’s down over 25%.



Or consider the euro.  It gained a lot of ground vs. the USD prior to the 2008 financial crisis, hitting a high of nearly $1.60.  Today, with the economic problems of the European Union it has fallen to around $1.35.



And finally we’ll look at Great Britain’s pound.  It also lost ground after 2008.



These currency charts show no looming collapse of the dollar.  Conspiracy theorists like to talk about the dollar’s demise but in reality other nations like Japan and China don’t want to see the dollar collapse because they need US consumers to buy their products.  The dollar will much more likely decline slowly over the years rather than collapse suddenly overnight.

Now, getting back to the dinar, there is no such confidence in Iraq’s currency.  Their government has only been in existence for ten years.  Their people aren’t as educated, their infrastructure isn’t as developed, their military isn’t as strong, and their economy isn’t diverse (it’s 90% oil).  In addition they have the constant exposure to terrorist activitiy and sectarian violence.  With such an unstable environment there’s no way that a country like Iraq could have a free floating currency, so they back their currency with foreign currency reserves like the other oil based economies of that region.

Since their reserves total approximately $80 billion, and t[url=http://www.cbi.iq/documents/key financial.xls]heir M2 money supply is shown at about 85 trillion dinar[/url], the math doesn’t show any millionaire creating revaluation on the horizon.  $80b divided by 85 trillion = approximately $.00094 which is slightly higher than the dinar’s current valuation of $.00086.

When you point these things out to some of the overnight millionaire crowd, they’ll start talking about the fact that the world is going back to asset-backed currencies and that a global currency reset is coming, which will allow for Iraq to revalue the dinar to where the old Saddam dinar was thirty years ago.  They have to say that the rules are changing you see, because the current rules will keep the value of the IQD about where it is now and the pumpers know that.  So in effect dinar speculators are gambling on the fact that this mythical and quite impossible reset will allow Iraq to revalue their currency hundreds of times more than the largest revaluation in history.  It’s kind of like saying that somebody is going to change the laws of the universe which will result in the sun rising in the west.  Would you risk thousands of dollars on that?

This could very well be a moot point anyway, considering that the CBI has announced their intent to redenominate.  This is very common with currencies that have depreciated due to hyperinflation as is the case with the dinar.  That would leave the IQD with no value at all when the exchange window expires.   (For further insight check out my post “RD 101“.)  But even if they don’t redenominate, the reality of the de facto peg exchange regime and the financial figures allows for no history making revaluation.

If you understand how the solar system works, you understand why the sun always rises in the east.  And if you understand how Iraq’s currency’s value is determined, you understand why no big RV is forthcoming.  “What if” is now eliminated.


 



http://iraqcurrencywatch.com/what-if-32314/

https://www.dinardaily.net/t50638-what-if-from-the-sam-i-am-archives