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11/26/2011 - FIVE YEARS AGO In DINARLAND
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11/26/2011 - FIVE YEARS AGO In DINARLAND
by Ssmith Sat Nov 26, 2016 10:55 am
Guru OkieOilman (via Bulldog75): THE IQD IS NOW THE MOST VALUABLE CURRENCY IN THE WORLD AS PER RUMOR OUT OF KUWAIT. IF THAT'S THE CASE, THE OTHER COUNTRIES, MAY BE USING THE IQD AS A CATALYST TO DETERMINE THEIR COUNTRIES' RATES WITHIN AN IMF NEGOTIABLE RANGE. FACT: EACH COUNTRY IS A SOVEREIGN COUNTRY AND HAS SOME INPUT AS TO THEIR VALUE WITHIN 'REASON AND RANGE' AS STIPULATED BY THE IMF; AND 'AGREED UPON WITH IMF'. "GLOBAL CURRENCY RE-ALIGNMENT" IS TO TAKE PLACE SOON TO NOW WITH 'ACTIVATION' BEING THE KEY OF 'ALL CURRENCIES'. THIS IS IN A STATE OF 'VALUE DETERMINATION', SINCE WE NOW HAVE ALL '0000' ON THE 'BUY / SELL POSTING'. WE ARE IN A 'STATIC MODE OR STATE OF FLUX' UNTIL RATES GET POSTED. WE CAN STILL SEE THE 'ACTIVATION' ANY MINUTE, HOUR, OR DAY BECAUSE CURRENCIES HAVE TO HAVE A 'VALUE'. SINCE THERE IS NO BUY/SELL RATE THERE HAS TO BE A DETERMINING FACTOR SOON SO THE CURRENCY CAN MOVE ON THE 'BUY/SELL MARKET RATES'. AS PER OKIE IN ECONOMICS COURSE 2.0, ONE CANNOT HAVE CURRENCIES WITH 00.0000 BECAUSE THAT IS A VALUELESS COMMODITY; AND THEIR CAN BE NO INTERNATIONAL EXCHANGE OF CURRENCIES UNTIL THERE IS A VALUE. THIS SHOULD MOVE SOON. CURRENCIES HAVE TO RE-ALIGNED AT SOME 'ASSIGNED VALUE' AT SOME 'ASSIGNED TIME'. CURRENCIES CANNOT OPERATE AT ZERO BUY/SELL. THERE HAS TO BE A 'VALUATION PLACED ON THE CURRENCIES'. IQD WILL BE USED AS A COMPARISON RATE! IF CURRENCIES HAD NO ASSIGNED VALUE, THE MONEY WOULD BE WORTHLESS, AS PER OKIE, ECO 2.0 ! WHAT ONE IS SEEING NOW, IS AN ANNOMOLY, SOMETHING LIKE NO ONE HAS SEEN BEFORE IN ONE'S LIFETIME.,,
WE ARE SPEAKING ABOUT A 130+ COUNTRIES. UNTIL THE IMF/BIS POSTS THE COUNTRIES' RATES, NO ONE CAN ACT ACCORDINGLY TO BUY/SELL, THIS STATE OF FLUX MENTIONED PREVIOUSLY. THE COMPLEXITY IS ALMOST BEYOND MOST MEN'S MINDS DUE TO THE VASTNESS COMPLEXITY OF GLOBAL MONETARY/CURRENCY RE-ALIGNMENT, ONCE IN A LIFETIME". "IMF/BIS IS FEELING THEIR WAY THRU THIS AND THEY ARE HOPING THAT THEY GET IT RIGHT THE FIRST TIME. IF THEY DON'T, THERE WILL BE FUTURE ADJUSTMENTS MADE SHORTLY THEREAFTER THE REALIGNMENT AND RATE ACTIVATION. WHAT WE ARE WITNESSING, IS THE GREATEST TRANSFER OF WEALTH IN HUMAN HISTORY. WE ARE WITNESSING HISTORY AS WE SPEAK." OKIE: "I SEND MY BEST WISHES, PRAYERS AND LOVE TO EVERYONE. I APPRECIATE BULLDOG75 HELPING ME WITH TONIGHTS POST. IF NECESSARY IN THE FUTURE, I WILL GIVE A COURSE IN ECONOMICS 3.0 . MY PRAYERS ARE SENT TO EACH OF YOU FROM THE BOTTOM OF MY HEART. GOD BLESS U ALL AND GOD BLESS AMERICA."
"BULLDOG75 WILL IMMEDIATELY POST MY INFO THAT COMES IN RAPIDLY BECAUSE OF MY CONTACTS. BULLDOG IS THE EYES AND HANDS OF OKIE. NUFF SAID. GOOD NIGHT TO ALL".
'ADDENDUM: CLARIFICATION' : "AN OMISSION OCCURRED ON MY PART EARLIER THIS MORNING IN OUR PREVIOUS POST IN ESSENCE TO MY EXPLANATION REGARDING ALL COMPUTERS BEING ZEROED OUT/SETTING AT ZERO. COUNTRIES ARE UP AND OPERATING AT THE OLD PROGRAMMED IMF RATE AWAITING NEW GLOBAL CURRENCY RE=ALIGNMENT. NO ONE EVER EXPLAINED WHY THE COMPUTERS ARE SET AT ZERO. 'THE UNKNOWN VOLATILITY FACTOR' TO BE DECIDED OCCURS WHEN THE RATES ARE POSTED. STOCKS, BONDS ARE AT BARGAIN BASEMENT PRICES RIGHT NOW AND LINING UP FOR THE INVESTOR. LAST WED THE USA NOW SEES A 15 TRILLION DEFICIT. THERE IS NO HISTORICAL PRESIDENCE FOR WHAT IS OCCURRING NOW. THERE IS A MESS THAT MAN HAS MADE IN THE PAST AND WE ARE EQUALIZING THE PLAYING FIELD TO MAKE A HIGHER STANDARD OF LIVING. HERETOFORE, WE ARE TRYING TO ELEVATE THE THIRD WORLD COUNTRIES TO A MORE EQUAL REPRESENTATIVE DEMOCRATIC SOCIETY. BE SAFE."
THERE ARE MANY PEOPLE LOOKING AT THIS AS ' A WINNING LOTTERY TICKET' WITH ONE CHANCE AT THE GOLDEN RING. WE NEED TO STOP AND TITHE AND ADJUST. WE NEED TO BE ASTUTE. WE NEED THIS AS SEED MONEY TO ACCOMPLISH EVEN MORE FOR FUTURE INVESTMENTS. THIS IS A ONCE IN A LIFETIME OCCURRENCE.
Guru Jonnywg: Good Morning my friends. A no sleep night but we did get a little info. I will make a full report shortly after i get into the back screens at the bank within an hour. Admittedly I am concered about the effects of the current sitution on you and your reactions. REMEMBER they can do whatever they want to stall it with unseen mercenaries but hell or high water it activates for MONDAY because all contractors and in iraq personel get paid with rv'd money. I will report again when i get the bank screens.
we have had no more hickups to date. ALL looks arranged and in line for tomorrow...the cbi update Mon AM is the logical step but any time after 2pm tomorrow is the time frame we are hearing.
We have just verified that the UST has been called in this 6AM and we will try to verify how long they are expected to stay. We know that the BANK SCREENS are $00.000 on both the BUY and SELL RATES thus over 100 coutries cannot be cashed or traded. THIS CANNOT REMAIN THIS WAY. there are no transactions unless at the old posted rates which is a huge risk. More info re SHABIBI to come later and hopefully info re delay this weekend. we have also verified that USA contractors in USA will get deposits in RV'D currency values.
we did get a little info. I will make a full report...after i get into the back screens at the bank...REMEMBER they can do whatever they want to stall it with unseen mercenaries but hell or high water it activates for MONDAY because all contractors and in iraq personel get paid with rv'd money.
WELL MY FRIENDS THIS IS NOT THE ANNOUNCEMENT EXPECTED. But we have to face reality. I will always put it out the way we hear it. I have been informed that an unknown to me group is trying to delay the RV to Sunday evening/ Monday AM. We do not know why but we hear that it is because all states cannot cashin on Saturday and Sunday. THIS IS NOT VERIFIED AS YET and still gives us a Monday cashin. I have made many calls trying to get more info but cannot at this time. I will report more info as it comes. Personally I hope it is smoke and misinformation but felt a responsibility to tell you.
Guru BWM: confirmation that those that want to tell you it's O causing the problem right now have smoke in their eyes or inhaled heavily...not to say that he (o) hasn't been in the past...but isn't this weekend...sleep well tonight... not looking for this window tonight... not saying it couldn't "pop" out of the blue but expecting tomorrow to be a better day/evening for windows to look at.
This RV is not like a normal RV because of the participation of so many "external" factors needing to get into this... so going thru the process isn't really in order... this is ready to go and on somewhat of a "timing" situation. It’s really been quiet... still looking at about a nickel (VND)... BUT depending on the order of things could go a bit higher. I don't play the percentages... but let me just I say I feel REALLY good about this window tomorrow night/Monday morning. I'm still hearing more in the high 3's to 5 for rates.... but again we are dealing with bank rates and we won't know until this is announced.
I don't have the pre RV money to get setup with the things I'd like so I'll be playing along with the rest of you. I'm pretty sure the bank will have pens... take a couple home with you, you deserve it.
Guru FreewayBill: You who are in concern do not be. Nothing bad has happened. You could not cash in till Monday anyway. Stay calm and the blessing will come to you. Just enjoy this beautiful weekend and everything else that the Lord has provided. Monday sometime looks good. Stay stoked people. Bbl with whatever we find out today. God Bless....
Guru Bluedog: The flurry of articles of lifting the zeros and the Iraqi dinar will have value..... how many have we seen in the last 2 weeks I have seen 38 or so when have we seen this number of articles on that subject...... we have seen them trickle out before but not like now.
Guru Bear5642: WELL SCOTTIG I LOOK FORWARD WITH GREAT EXPECTATION NEXT WEEK AND OH BY THE WAY THAT NEW CAR YOU WANT IS ON ME IM PICKING UP THE TAB ON THAT ONE MY FRIEND THOUGHT I WOULD MAKE THAT PUBLIC
JUST A WORD OF CATION PLEASE DONT ACT ANY DIFFERENTLY AND TRY TO DISUISE YOURSELF OR ACT SOME SECRET SERVICE AGENT. YOU WILL DEFINATELY DRAW ATTENTION TO YOURSELF AND ALSO LOOK LIKE A BLOOMING IDIOT
I FOR ONE AM AND WILL BE EXTREMELY CAUTIUOS IN WHO I SHARE MY NEW FOUND WEALTH WITH AND I WILL GO WITH SCOTTIG GROUP POST RV 100%
ALL OF MY SOURCES ARE POITNING TO TUESDAY WEDNESDAY OR THURSDAY AND I HAVE SOMEONE ARRIVING IN IRAQ THIS AFTERNOON AND WILL GIVE...A REPORT OFF THE STREETS...I CAN TELL YOU SO FAR NO LOWER DENOMS ARE ON THE STREETS OF IRAQ...WE HAVE BEEN RIGHT ON EVERY DELAY AND PROJECTION...AND...WE FEEL THAT THIS IS DONE AND WILL COME TO COMPLETION BY EARLY NEXT WEEK...[still thinking the 4.40 range] OR A LITTLE LOWER.
Guru Lightbeam: SouthernLawya some of the first contractors prior to the rv were paid in a "negotiated" rate knowing it would rv, ok? Monday there is a Contractor who is based in the UNITED STATES .... and his contractreads he WILL be paid in RV currency.... and we can even do the math on that....to get a rate....that is a HUGE difference..... if I am wrong, correct me....this is what I know to be a fact....woulda been great to see this yesterday ofcourse.....but MONDAY works for me....this Contractor will be paid in the US...money in his account on MONDAY. Can't hang our hat on ust that---there is more intel that points to that.....such as, we have 132 UNHAPPY countries right now....and I asssume you all know Maliki flew to Japan just to calm them down and assure them this rv was on the way???? My 2 cents worth...hope it helps....
Guru BGG: Stop the madness!! It's just not right - and if anyone is guilty (if even a little unwittingly) - it's me - I'll admit...but it didn't take me more than a couple of times to recognize something in the info stream was amiss. We can manage to be uplifting and positive without agreeing with all this nutty stuff. I'll just bet we can find a way.
No one - and I mean no one - knows for sure. We have seen indicators - but this is going to be a very, very, very closely guarded secret (as to the exact timing). Once Dr. Shabibi gives the OK for the rate to go to the BIS - it will go from the CBI to the BIS who will then have 24 hours to disseminate the information the various Central Banks of the world. Once they load the rate and give the final "go-ahead" it will be an immediate process - not over days or a weekend. Immediate - like 15 seconds. Then the Central Banks will move that rate through their systems - which may take a little while but not the kind of time we are hearing. It will also be very quick - speed is part of the integrity of the system.
I'll bet - and this is just a guess....that Dr. Shabibi's first assistant has no clue as to the timing of this event. Not a clue. It's that much of a secret.
So what chance does a currency teller - staring at a screen at least four steps down the chain of events - have to "fore tell" this event??? [BGG] Here's an idea. 1) Tell the truth 2) Tell folks to hang in there 3) and enjoy your day!! What a simple formula!!
Guru Poppy3: everyone will know within 10 min of one anther when the RV hits with or without being online. Poppy3
Just shows where when america works and unemployment is extremely low and bringing in 7 or 8 million more people working paying taxes then the speed at which we grow wealth is very fast. Put the 13 million illegals out and create those jobs, bring the troops home put them on the borders with shoot to kill anyone crossing and get all illegals from any where off the medical rolls and watch this country get back on track and out of debt in 5 years or less. Start pumping our own oil fields again the money will flow and profits will soure. Shame of it all is every peoson running there is not one with the guts to take a stand and get it done. They also should spend every dollar from the dinar directly on the national debt.
DV Member JayP: There was a post that was made by Kaperoni that I would like to address. I am not sure why he would post the things that he did here, as all of the reasons he posted just have no merit, and can easily be proved as false. I understand that it is important to keep site traffic in order to sell products to make money, but not at the expense of misinforming people about this investment, which can put a new investor that may not know better at financial risk.
I have posted a response for each of the reasons he provided. Please see my responses in Blue. I sincerely hope that I can clarify some of the misunderstandings that his post may have caused.
10 reasons why the IQD will not LOP
1. Monetary policy was a success talking inflation from 35% or higher to around 7% currently.
This is true, that the policies have in fact reduced inflation, so I will give Kap a nod on that one, but what is not true, is that this is a reason it will not redenominate. Let’s first make a distinction here, that there is no such thing as a “lop”, and it is just a made up word. The correct terminology is a redenomination, and a lop is NOT a devaluation, nor is a redenomination a devaluation.
That being said, historically, when a country redenominates, it is usually done as a sign that the inflationary period has ended, and why they usually will redenominate after hyper-inflation, not generally during that hyper inflationary period. In fact, it is more of a psychological thing than anything, as well as to ease the cash transactions with the smaller numbers. Now the important thing to keep in mind, is that this does not mean that high inflation cannot occur after a redenomination also, because it could, as it has happened in prior redenominations as well. A redenomination is not meant to resolve inflation, therefore this reason simply does not prove what he is trying to say.
2. Any type of currency devaluation (LOP) is considered a failure of monetary policy. Dr. Shabibi has not failed.
As stated in response to #1, a redenomination does not mean a devaluation. This is a statement that is simply NOT true. In fact, once a redenomination has occurred, the consolidated value of the Dinar could very well be just under, equal to, or over the dollar. For example, if a Dinar is currently .00086:1, then a 25K note is worth about 21.5 USD, and then in a case of a redenomination, if they were to move the decimal over 3 places, it would apply to all things the same, prices, rates, accounts, etc, therefore the new rate can potentially be .86, therefore after the decimal is moved over 3 places, 25 new dinars, would still be worth 21.5 USD. This shows NO devaluation has occurred, and the strength of the new currency has not changed once the zeros are deleted, just as they have stated in those articles we read.
In a redenomination, it would not mean Shabibi has failed, only succeeded in his plans that he has been saying he wanted to do all along. It is the govt right now that does not want him to follow through on his plans to redenominate at this point for reasons they gave of fears of corruption or counterfeiting in the process.
3. Lesser value notes in circulation such as 50, 250, 500. Devaluing the larger 3 zero notes would make them worth less than these lesser notes.
This is an interesting one, one that had me thinking when Kap started with this theory almost a year ago. Unfortunately, this holds no water, as in a redenomination, they do not just redenominate some notes, and not others. When they talk about the 3 zeros, what this actually means is the movement of the decimal point over 3 places. This would apply to all notes, accounts, prices alike. Please look up the terminology for a Homogenous function. You will see the definition of this there. You will also find that this is a term that is used in these 3 zero articles explaining the process as well. Please see the link below and you will see where it uses this term in the explanation of the process:
http://iraqdinar.us/forum/viewtopic.php?f=7&t=28096
Now, here is a definition of Homogenous:
1: of the same or a similar kind or nature
2: of uniform structure or composition throughout homogeneous neighborhood>
3: having the property that if each variable is replaced by a constant times that variable the constant can be factored out :having each term of the same degree if all variables are considered homogeneous equation>
http://www.merriam-webster.com/dictionary/homogeneous
Here is another good explanation:
http://www.economics.utoronto.ca/osborne/MathTutorial/HOMF.HTM
4. Iraq wants the dinar to be an international reserve currency. Cannot devalue the notes in reserve (25,000), circulate them as payment, or traded amongst countries.
First, in this response, please see my response to #2. If the CBI were to redenominate, that does NOT mean a devaluation. That is 2 different things, but something those that want to distort the facts do not want you to realize.
2nd, the rate does not determine tradeability. Last I checked, the Vietnam Dong at 21,000:1 is as good as any other currency, just takes a whole lot more Dong to do business with it. So I have to say, this reason, holds as much value as the Dinar or the Dong does right now!
5. Iraq holds arguable the second largest oil reserves and is mineral rich. They are too wealthy to not honor the value stated on the notes.
Are they wealthy with the Oil reserves, and mineral rich, sure, I will give him a nod on this one as well, but that does not mean that they would not redenominate. The determination to redenominate is not based on Oil reserves, and even if so, having the oil, and getting the oil out of the ground is 2 different things. In either case though, I disagree that there is so much Oil that they can just revalue 1000x the amount or more than they are at right now, not without reducing the money supply first, and this was even stated by the CBI themselves.
6. Iraq has stated..They want the “strongest currency in the Middle East” Any such type of LOP would be a devaluation and therefore not considered strong.
This again goes back to #2. A redenomination is NOT a devaluation. Prove that they are the same thing, and then this is something to consider, until then, I think that we should be a little more realistic.
7. US holds dinar as a result if funding the CBI initial reserves. This dinar will eventually payoff the war debt.
All I can say about this, is show the proof. I will be willing to entertain this idea, if someone, anyone can show any shred of evidence of this to be true.
Let me provide the link below:
http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt
This is from the US Treasury website showing the US Foreign Reserves. You will see that it does not indicate anywhere in here that is shows IQD holdings. There is a group called Oil Exporters. If you notice the 3/ next to the name that refers to the #3 at the bottom and it reads:
“3/ Oil exporters include Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria.”
This means that the amount shown in the row for Oil Exporter nations consist of the combined holdings of all of those nations currency. So unless proof can be given that we hold as much Dinar as some would like to say, this is speculation at the very best, and nothing more. Using this as a basis as to why they would not redenominate would simply be wrong, and I hardly think that a guess at something should ever be used as proof of something, especially when the proof itself is not verifiable. I challenge everyone to ask Kap this question, and I would be willing to bet you would get banned for even asking the question. I know, because I did.. lol!!
The other point I would like to make on this is that, even if we did hold Dinar, if they were to redenominate, as I stated in prior responses, this would not be a devaluation, therefore it would not mean any loss for the US reserves, but it would also mean that it would not be paying for any wars, and for those that may have heard of the wars will pay for themselves rumors, this is not true, and Bush never said those words. I would challenge anyone to provide proof of the quote if they do believe this. In fact, I can provide you with precisely where I believe that rumor came from. It was actually a statement made by Wolfowitz in 2003 talking about Iraq using Oil to pay for their own reconstruction, and I believe some guru out there twisted this quote to what the rumor has become today, like a tall tale over the years.
Here is the quote: Wolfowitz: “We’re dealing with a country that could really finance its own reconstruction.” As Think Progress noted, then-Deputy Defense Secretary Paul Wolfowitz testified before Congress on March 27, 2003, that “the oil revenues of that country [iraq] could bring between 50 and 100 billion dollars over the course of the next two or three years. Now, there are a lot of claims on that money, but that’s — we’re not dealing with Afghanistan that’s a permanent ward of the international community. We are dealing with a country that can really finance its own reconstruction and relatively soon.”
8. One of the authors of the currency exchange plan – Assistant Professor Dr. Fadel states in his documentation, “We must emphasize the extremely important issue is that if you remove three zeroes from the currency should not affect the actual value thereof to be trading in the old currency…
Yes this was said, but please note what I stated in response to #2, in a redenomination, there is no affect on the purchase power, so I believe this to be accurate. In other words a 25K note worth .00086, and a 25 dinar note worth .86, they BOTH equal 21.5 USD, so a redenomination does NOT affect the actual value of their wealth, so this is no proof at all that they will not redenominate.
”9. In 2003 when the NID was introduced at it’s initial rate, the previous currency was in essence devalued taking all wealth from the country to prevent funding of terrorism. Raising the currencies value will in essence, return that wealth now that the GOI is stable and economic conditions have improved.
I am sorry, but this one really is laughable. The fact of the matter, is that this one, is absolutely untrue and inaccurate. In fact, let me provide some proof that I have that proves this one to be untrue.
Please see the below link:
http://treasury.un.org/operationalrates/Details.aspx?code=IQD¤cy=Iraqi+Dinar&country=Iraq
This goes back to Dec 2001. Please see the rate as of Dec 2001: 2023:1 .. yep, that is Dec 2001, well before the NID was introduced, or before we even ever invaded Iraq. The fact and reality is that the currency was being devalued years prior to the NID. In fact, the rate right now is almost twice as high as it was back then PRIOR to the new notes being changed. This was due to inflation, and why the amount of dinars that were being printed were printed. So it would be very wrong to use this as any proof that they would not redenominate, and in fact, only further provide proof that they need to reduce the money supply by redenominating.
10. The CBI has stated “both currencies will co-exist” and the process will not change the “monetary value” of the dinar.
This is entirely possible depending on the exchange process. Romania for example did the same thing, and Iraq even used Romania as one of the examples or models to their plans. There was a time, for about 18 months, where during the exchange period people would be able to use either the old or the new currency for a period of time, and prices were adjusted based on if they paid with the old or new currency, moving the decimal over on the price. Please see the link below that shows an example of a price tag in Romania based on the ROL (old currency) or the RON (new currency).
http://en.wikipedia.org/wiki/File:Romania_revalue_tag.jpg
The CBI themselves used Romania as an example of what they intend to do.
If the intent here is to prove that a redenomination cannot happen, then unfortunately, I think that there will need to be a better attempt at it than this, and a bit more solid proof than this that is for sure.
I do believe that maybe they can just revalue without needing to redenominate, and that is what I hope for in this as everyone else, I am in this to gain just like everyone. While I do hope for the very best though, I also need to be honest with myself, and everyone else. I think giving hope is a wonderful thing, but distorting the facts, or the truths to give hope is not the way to go about it though.
Kap’s intentions may be sincere, and I truly hope that is the case, but I think that in order to be fair, and to be honest with his members, he should either show some real proof that a redenomination cannot happen, proof much stronger than this, or openly admit that it really is a very strong possibility that we all should keep under consideration, and think about.
Guru Kaparoni: JayP, I don't need to discredit you, you do it yourself with your own statements that are contradictory. What you do is interpret statements the way you think they should be interpreted rather than what the correct interpretation is. You forget, I have an Arabic translator friend. Not some software off the internet. The truth is...The CBI is is making a comparison to the purchasing power to explain to the citizens what it will be like post RV, not telling them their currency is devaluing. That is where you try to sit and convince the masses there is LOP or re-denomination. And that is where you are wrong. They could or would never take the wealth from the people after they already took it in 2003. Your common sense lacks common sense.
Dr. Fedel is also a friend of mine. Yes, he actually is as we correspond. And once again, you are wrong. He, like others, have made reference to Turkey, etc as to the procedures of a currency change, never has he referred to the actual event. Again, you twist it to your liking to imply your results.
As well, when or where have I guaranteed results on the dinar? Again more lies by you. I simply clarify the many articles and documents out to give factual evidence. You don't, yours is nothing but a theory, full of holes, misguide information and lack of fact....and bad at that. And if you must know, I am more worried about the GOI failing (hence a collapse of polices) than the notes ever devaluing.
You must be confusing me with some other gurus. Never once do i talk about contracts in dinars. In fact, If asked, often state that all contracts are written in USD as well as the Budget, and employee pay. Their main source of income is USD, therefore it makes sense to price accordingly. Again, your creating lies.
Oh by the way, you should clarify that you did not come into xxxxxxxxxx chat room to discuss this matter with me, to learn the facts, you came in with a fake name to disrupt the room directly after a chat to cause as much trouble you and Tenmillion (also using a fake name) could, with with as many people as you could. Big difference pal. Why did you do that? Because you were already banned by the site admin for doing it before. Therefore, you hold me responsible for your behavior? Laughable. Or how about the little emails you send around? Like to my friend at Douchebag site? Is that your way of trying to talk directly with me and learn? You see i know a bullchitter when i see one....and your full of it.
My advise, get yourself a good Arabic translator to give you the correct interpretation of what the CBI is teaching the people of Iraq. That way, you can come on your little site and educate people rather than scare or misguide them. Oh that's right, that's why you put this nonsense on other sites, cause you have no one who wants to hear it on Tens? What she got 200 members? How is that peeps come to my site after posting a response on your site only to find it has been deleted because it was not to your liking? That does not seem like your educating anyone..but spoon force feeding them BS and non-sense.
Oh btw, I don't own chit on xxxxxxxxxx, I simply agreed to come and teach people (for free in might add). You might want to get that fact correct as well before you tell others more lies. How much money have you and Ten made of her little site with them ads? What a joke.
Guru ScottiG: So many tidbits all saying that the glitches...are resolved and the different aspects and phases of this release of adjusted currency is ready to go into the global banks. From Jordan to Kuwait the banks are ready. We await confirmation from boots on the ground to let us know when this adjustment will hit the marketplace and vendors in Iraq. As stated we already have confirmation that the GOI is to pay staff and employees in adjusted IQD. Contractors have been paid at $3.75 - $4.11. We are in the middle of the RV unleashing. It started week before last and it hit a small stall and then it kept unfolding. We are seeing the banks, exchanges and cash ins. This is not rumor. This is real. we are there.
Guru Med: FIRST THE NEWS LEAKED ABOUT A LARGE DENOM WORTH X AMOUNT, WHAT THIS WAS WAS AN EXPLANATION THAT IT IS NOT A 50K NOTE BUT THAT ONE OF THE NEW DENOMS WILL BE A 50D AND IT WILL BE WORTH THE CURRENT EQUIVALENT OF 50,000 DINAR TOTAL. IF THEY HAD ONLY DISCUSSED A NEW 20K NOTE OR 100K NOTE, THEN THEY WOULD HAVE ONLY ADDRESSED THAT, THAT THE NEW NOTES WILL EQUAL THIS AMOUNT BASED ON CURRENT RATE. ALL IT IS IS THE REMOVAL OF ZERO'S FROM THE NOMINAL VALUE, NOTHING MORE. THEY GAVE OUT THE NEW RATE OF EXCHANGE BUT DIDNT GO INTO THAT IT WOULD BE THIS RATE FOR EVERY NEW DENOM WHICH IS A GIMME. WHAT THEY DID WAS EXPLAIN THERE IS NO MORE LARGE DENOMS BEING PRINTED BUT THE NEW SMALLER ONES WILL HAVE A HIGHER VALUE AS IF YOU HAD CARRIED A LARGE ONE.
Newshound Bondlady: Posting a Email I recieved I thought it was very good,****** The World Economy is Saved!!! ******11/26/11
The World Economy is Saved!!!
By Dene McGriff
The economy looks pretty bleak at the moment. As I have written in the last three articles, there is way too much money and debt sloshing around in the world, too many entitlements, too much complaining and too little production. Interest rates are increasing in Italy, Spain and even France. The debt/death spiral has begun. But what if I told you that we have a temporary fix? Just remember, you heard it here first. I’m not going to back this up with a bunch of links because no one is talking about it and no one is supposed to even know about it. This is hush-hush. But the “powers that be” are about to come upon trillions of new dollars.
Let’s all say it together: “Now wait a Wall Street Minute . . . how could that be?” Printing money and monetizing debt will only lead to ruinous hyperinflation. What you see is what you get. There is no unfound wealth left in the world and gold’s nearly at $2,000 per troy ounce. Ah, grasshoppers, but what if there is and you just don’t know about it? What if the government doesn’t want you to know about it?
What if this little secret changes the course of history?
Before I get to the meat of this, let me ask you a question: Just how did Bill Clinton not only balance the budget but come up with surpluses in his last couple of years in office? These surpluses were in terms of how the budget is computed. There were no real surpluses if you count unfunded liabilities.
Notwithstanding, for the first time in years, these “surpluses” showed up out of nowhere.
Now, let me ask you: Is that because President Clinton was such a frugal spender? Was it because Congress all of the sudden got fiscal religion and stopped spending? Sure, there were military cutbacks, but there was much more involved. The First Gulf War was paid for – not just by the Saudis but also by the Kuwaitis and America actually made a profit!
During the war the value of the Kuwaiti Dinar collapsed to pennies, but the U.S. and a few speculators accumulated hundreds of billions. There is no way of knowing exactly how much but that is the main source for the Clinton surplus. It took seven or eight years to see it, but it finally paid off. The dinar went from pennies to about $3.60 to one dinar, making it one of the most valuable currencies in the world!
When the second Gulf conflict began, Bush and Cheney assured us all thatthe war would pay for itself.
Bush set a plan in motion. When the first Gulf war began, the Iraqi Dinar was at $3.22 to one dollar. It dropped to a fraction of a cent and stayed there for the past two decades. The Iraqi Dinar is still absolutely worthless. It is currently at about 1280 dinars to the dollar. There are many other currencies that are worth much more than their current value, the most notable is China’s, the Yuan Renmimbi; which is worth about 6.8 to the dollar. China has a competitive advantage because it is keeps their currency at a low value. Another example is the Vietnamese Dong which is worth about one hundred dollars per million Dong. Many believe the value is more like 20 Dong to the dollar. That is quite a difference, i.e., 0.0001 vs. .20 – an astonishing differential.
Now, let’s shift gears back to the world monetary system for a moment before we come back to Iraq.
The International Monetary Fund (IMF) realizes that the system of fiat currency (worthless paper money) isn’t working because it is based on the “good faith” of the individual government printing the currency and governments have proved down through the ages they can’t be trusted. There is too great a temptation to deflate the value.
Meanwhile, there is a hue and cry to return to the gold standard because it at least bases value on something tangible and keeps government honest. The problem with the gold standard is that there isn’t enough gold to base a world economy on it. So, what to do?
Over the past few years the IMF has been working on complex formulas which would determine the value of a country’s currency based on their resources and productive capacity. This could mean agricultural, mineral or other natural resources or manufacturing output, intellectual resources (e.g. those who create technology) and so forth. The idea is to come up with objective, quantifiable criteria.
They are currently in the process of revaluing 133 national currencies. Some could go up and some could go down. If this were done on a fair basis, every country would get credit for whatever they produced and their currency would reflect that value.
Now let me ask you: What would happen if all of the sudden a currency worth next to nothing gained a tremendous amount in value? What if the Chinese currency suddenly went up by thirty percent? That would mean there is a lot more money in circulation. We see references in the news about how the IMF and the central banks are trying to come up with a scheme to inject needed cash into the system before the Euro-zone implodes. They have a plan but you will never know how they did it!
BABYLON ON THE TIGRIS-EUPHRATES RIVERS TO THE RESCUE
Now let’s go back to little Iraq. Iraq is one of the best kept secrets. Could it be that had something to do with two Gulf wars? Little Iraq is number three in the world in oil reserves. Only about one quarter of Iraq has been explored. Now they are up to about 40 percent and the amount of reserves continues to grow. The strange thing is that Saudi Arabia’s oil reserves never seem to go down even though they have been pumping oil like crazy for the past 100 years. When drilling for oil in Iraq, you are more likely to hit oil than water and it is sweet crude, the best in the world. Some think it will end up being number one in the world. It is already the first in natural gas. Iraq is also rich in minerals and has historically been the bread basket of the Middle East. It is the site of the original Garden of Eden with the Tigris and Euphrates rivers flowing through it year round. After decades of being ravaged by war, it can once again become a major agricultural producer.
So what does this mean? Based on IMF calculations, the value of the Iraqi Dinar should be around the $2+ range. This is not unreasonable considering other Middle Eastern oil producing countries average about $3 to $1. “So what?” you say. It is estimated that the U.S. government is holding 3.5 trillion Iraqi Dinar (IQD). If it were to revalue to the $3 level, that would be $10 trillion new found dollars (US)! Imagine what fun our legislators would have with that? Of course, they could pay down the national debt, but I suspect they would just rather spend it and look like heroes instead of balancing the budget. We can also safely assume that France, Germany, England and even the PIIGS are sitting on IQD. That would really help as well. But no one will ever say it in public.
Many countries will see their currencies go up. This has been alluded to in the news. This would certainly help solve the immediate crisis. It would inject much needed cash into the Euro-zone, America and the rest of the world. But will it solve the world economic problems? I seriously doubt it. In the short run but not in the long run. It may support a nice little recovery for a few years. That won’t deal with the problem of excess liquidity – too much money and in this case, even more of it sloshing around in the world. Our leaders have shown that rather than let banks and countries fail and restructure, as in “work the debt out,” instead, they pour more good money after bad, only greasing the pockets of the bankers and the elites. No wonder the “Occupy” movements are so upset!
You won’t read about this in the newspapers, CNN, CNBC, Fox or Bloomberg. This is a little secret the politicians will pull out to save the economy, save Obama and save their legislative posteriors. People will think they are brilliant and re-elect them. Currencies led by Iraq, China, Vietnam and a few others will revalue, injecting trillions into the world economy. This will put a temporary patch on Europe and even the US, only postponing the pain for a few more years.
Again, the revaluation of these currencies around the world is designed by the IMF (whose engagement is “international monetary policy”) to reflect tangible (minerals, resource assets) and intangible (intellectual, technological capital) worth of a nation’s currency – the more assets, resources and intellectual capital a nation possesses, the greater will be its currency’s worth…most nation states will find themselves in a strengthened currency (more valuable) – some, like Vietnam and Iraq will reap a bonanza. This temporary fix will alter the course of the elections.
This is just my little prediction. The IMF, the central banks and the governments of the world will ride high for a few more years while the real trouble brews in the Holy Land!
Dene McGriff
Dinar Updates Member Denergy: don't you question it when they talk about cash ins? Personally I don't believe anybody will be able to cashin until it has RV'd globally. What are your thoughts on that? I just cannot understand, if they were cashing in in Kuwait or Iraq and we know that why wouldn't there be a run on the Dinar? Just wondering. This whole group is just too smart - can't pull one over an these folks. Maybe a couple, but not 99.99% of em.
Dinarian Knucklehead: Applying what I learned from people in the Dinar community. Which is what we should all do. I read this article and it caught my eye. Read something before about Iraq adjusting the wages soon. Could this be it. And if so, I added the Exchange Rate from 1991. Best Regards, Knucklehead
Start the meeting of the Council of Representatives and the agenda includes the first and second readings of nine bills
Ali Abdullah – 26/11/2011 AD – 11:17 AM |
Began the morning session today under the chairmanship of the House of Representatives and the presence of Osama al-177 deputies,
According to the agenda for the meeting today, it will read the first and the second of nine draft laws.
A source in the Council in a statement quoted by the agency {Euphrates News} that the agenda for today’s session will include a “reading the first draft Provident Fund Act Customs and the first reading of a bill to support development projects and the first reading of the bill the second amendment to the law of the discipline of state employees and the public sector No. (14) for the year 1991 average. “
“The project will also include the first reading of bill Training Center, monetary and banking system and the first reading of the draft Convention on the Law of trade and economic cooperation and technical cooperation between the Government of the Republic of Iraq and the Government of the Kingdom of Great Britain and Northern Ireland. ”
The source said, “will also include the agenda, the second reading of the draft law of seizure and confiscation of movable and immovable property belonging to the staff of the former regime , filtered, and the second reading of a bill to support small projects generating income and the second reading of a bill to exempt reserves of capital to the mixed sector companies and the second reading the draft law to stamp duty
Exchange rate info-
17 October 1982-1994?
hard peg, 1 Iraqi dinar = US$3.2169
Devalued by 5%. A currency confiscation occurred on 5 May 1993 as Iraq withdrew 25-dinar “Swiss print” notes from circulation (Iraq, decision of cabinet and Revolutionary Command Council, 2 May 1993). Notes were exchanged at 25 new dinars = 25 old dinars until 10 May 1993, but Iraq closed its borders to prevent foreign holders from repatriating the notes during the redemption period. After the period was over, the notes became worthless in areas controlled by the government of Saddam Hussein. The 25-dinar Swiss-print notes continued to be valid in Kurdish areas, which since the Persian Gulf War of 1991 had become de facto independent.RR: Managed float / parallel market. Multiple rates in 1982 and 1983.
WE ARE SPEAKING ABOUT A 130+ COUNTRIES. UNTIL THE IMF/BIS POSTS THE COUNTRIES' RATES, NO ONE CAN ACT ACCORDINGLY TO BUY/SELL, THIS STATE OF FLUX MENTIONED PREVIOUSLY. THE COMPLEXITY IS ALMOST BEYOND MOST MEN'S MINDS DUE TO THE VASTNESS COMPLEXITY OF GLOBAL MONETARY/CURRENCY RE-ALIGNMENT, ONCE IN A LIFETIME". "IMF/BIS IS FEELING THEIR WAY THRU THIS AND THEY ARE HOPING THAT THEY GET IT RIGHT THE FIRST TIME. IF THEY DON'T, THERE WILL BE FUTURE ADJUSTMENTS MADE SHORTLY THEREAFTER THE REALIGNMENT AND RATE ACTIVATION. WHAT WE ARE WITNESSING, IS THE GREATEST TRANSFER OF WEALTH IN HUMAN HISTORY. WE ARE WITNESSING HISTORY AS WE SPEAK." OKIE: "I SEND MY BEST WISHES, PRAYERS AND LOVE TO EVERYONE. I APPRECIATE BULLDOG75 HELPING ME WITH TONIGHTS POST. IF NECESSARY IN THE FUTURE, I WILL GIVE A COURSE IN ECONOMICS 3.0 . MY PRAYERS ARE SENT TO EACH OF YOU FROM THE BOTTOM OF MY HEART. GOD BLESS U ALL AND GOD BLESS AMERICA."
"BULLDOG75 WILL IMMEDIATELY POST MY INFO THAT COMES IN RAPIDLY BECAUSE OF MY CONTACTS. BULLDOG IS THE EYES AND HANDS OF OKIE. NUFF SAID. GOOD NIGHT TO ALL".
'ADDENDUM: CLARIFICATION' : "AN OMISSION OCCURRED ON MY PART EARLIER THIS MORNING IN OUR PREVIOUS POST IN ESSENCE TO MY EXPLANATION REGARDING ALL COMPUTERS BEING ZEROED OUT/SETTING AT ZERO. COUNTRIES ARE UP AND OPERATING AT THE OLD PROGRAMMED IMF RATE AWAITING NEW GLOBAL CURRENCY RE=ALIGNMENT. NO ONE EVER EXPLAINED WHY THE COMPUTERS ARE SET AT ZERO. 'THE UNKNOWN VOLATILITY FACTOR' TO BE DECIDED OCCURS WHEN THE RATES ARE POSTED. STOCKS, BONDS ARE AT BARGAIN BASEMENT PRICES RIGHT NOW AND LINING UP FOR THE INVESTOR. LAST WED THE USA NOW SEES A 15 TRILLION DEFICIT. THERE IS NO HISTORICAL PRESIDENCE FOR WHAT IS OCCURRING NOW. THERE IS A MESS THAT MAN HAS MADE IN THE PAST AND WE ARE EQUALIZING THE PLAYING FIELD TO MAKE A HIGHER STANDARD OF LIVING. HERETOFORE, WE ARE TRYING TO ELEVATE THE THIRD WORLD COUNTRIES TO A MORE EQUAL REPRESENTATIVE DEMOCRATIC SOCIETY. BE SAFE."
THERE ARE MANY PEOPLE LOOKING AT THIS AS ' A WINNING LOTTERY TICKET' WITH ONE CHANCE AT THE GOLDEN RING. WE NEED TO STOP AND TITHE AND ADJUST. WE NEED TO BE ASTUTE. WE NEED THIS AS SEED MONEY TO ACCOMPLISH EVEN MORE FOR FUTURE INVESTMENTS. THIS IS A ONCE IN A LIFETIME OCCURRENCE.
Guru Jonnywg: Good Morning my friends. A no sleep night but we did get a little info. I will make a full report shortly after i get into the back screens at the bank within an hour. Admittedly I am concered about the effects of the current sitution on you and your reactions. REMEMBER they can do whatever they want to stall it with unseen mercenaries but hell or high water it activates for MONDAY because all contractors and in iraq personel get paid with rv'd money. I will report again when i get the bank screens.
we have had no more hickups to date. ALL looks arranged and in line for tomorrow...the cbi update Mon AM is the logical step but any time after 2pm tomorrow is the time frame we are hearing.
We have just verified that the UST has been called in this 6AM and we will try to verify how long they are expected to stay. We know that the BANK SCREENS are $00.000 on both the BUY and SELL RATES thus over 100 coutries cannot be cashed or traded. THIS CANNOT REMAIN THIS WAY. there are no transactions unless at the old posted rates which is a huge risk. More info re SHABIBI to come later and hopefully info re delay this weekend. we have also verified that USA contractors in USA will get deposits in RV'D currency values.
we did get a little info. I will make a full report...after i get into the back screens at the bank...REMEMBER they can do whatever they want to stall it with unseen mercenaries but hell or high water it activates for MONDAY because all contractors and in iraq personel get paid with rv'd money.
WELL MY FRIENDS THIS IS NOT THE ANNOUNCEMENT EXPECTED. But we have to face reality. I will always put it out the way we hear it. I have been informed that an unknown to me group is trying to delay the RV to Sunday evening/ Monday AM. We do not know why but we hear that it is because all states cannot cashin on Saturday and Sunday. THIS IS NOT VERIFIED AS YET and still gives us a Monday cashin. I have made many calls trying to get more info but cannot at this time. I will report more info as it comes. Personally I hope it is smoke and misinformation but felt a responsibility to tell you.
Guru BWM: confirmation that those that want to tell you it's O causing the problem right now have smoke in their eyes or inhaled heavily...not to say that he (o) hasn't been in the past...but isn't this weekend...sleep well tonight... not looking for this window tonight... not saying it couldn't "pop" out of the blue but expecting tomorrow to be a better day/evening for windows to look at.
This RV is not like a normal RV because of the participation of so many "external" factors needing to get into this... so going thru the process isn't really in order... this is ready to go and on somewhat of a "timing" situation. It’s really been quiet... still looking at about a nickel (VND)... BUT depending on the order of things could go a bit higher. I don't play the percentages... but let me just I say I feel REALLY good about this window tomorrow night/Monday morning. I'm still hearing more in the high 3's to 5 for rates.... but again we are dealing with bank rates and we won't know until this is announced.
I don't have the pre RV money to get setup with the things I'd like so I'll be playing along with the rest of you. I'm pretty sure the bank will have pens... take a couple home with you, you deserve it.
Guru FreewayBill: You who are in concern do not be. Nothing bad has happened. You could not cash in till Monday anyway. Stay calm and the blessing will come to you. Just enjoy this beautiful weekend and everything else that the Lord has provided. Monday sometime looks good. Stay stoked people. Bbl with whatever we find out today. God Bless....
Guru Bluedog: The flurry of articles of lifting the zeros and the Iraqi dinar will have value..... how many have we seen in the last 2 weeks I have seen 38 or so when have we seen this number of articles on that subject...... we have seen them trickle out before but not like now.
Guru Bear5642: WELL SCOTTIG I LOOK FORWARD WITH GREAT EXPECTATION NEXT WEEK AND OH BY THE WAY THAT NEW CAR YOU WANT IS ON ME IM PICKING UP THE TAB ON THAT ONE MY FRIEND THOUGHT I WOULD MAKE THAT PUBLIC
JUST A WORD OF CATION PLEASE DONT ACT ANY DIFFERENTLY AND TRY TO DISUISE YOURSELF OR ACT SOME SECRET SERVICE AGENT. YOU WILL DEFINATELY DRAW ATTENTION TO YOURSELF AND ALSO LOOK LIKE A BLOOMING IDIOT
I FOR ONE AM AND WILL BE EXTREMELY CAUTIUOS IN WHO I SHARE MY NEW FOUND WEALTH WITH AND I WILL GO WITH SCOTTIG GROUP POST RV 100%
ALL OF MY SOURCES ARE POITNING TO TUESDAY WEDNESDAY OR THURSDAY AND I HAVE SOMEONE ARRIVING IN IRAQ THIS AFTERNOON AND WILL GIVE...A REPORT OFF THE STREETS...I CAN TELL YOU SO FAR NO LOWER DENOMS ARE ON THE STREETS OF IRAQ...WE HAVE BEEN RIGHT ON EVERY DELAY AND PROJECTION...AND...WE FEEL THAT THIS IS DONE AND WILL COME TO COMPLETION BY EARLY NEXT WEEK...[still thinking the 4.40 range] OR A LITTLE LOWER.
Guru Lightbeam: SouthernLawya some of the first contractors prior to the rv were paid in a "negotiated" rate knowing it would rv, ok? Monday there is a Contractor who is based in the UNITED STATES .... and his contractreads he WILL be paid in RV currency.... and we can even do the math on that....to get a rate....that is a HUGE difference..... if I am wrong, correct me....this is what I know to be a fact....woulda been great to see this yesterday ofcourse.....but MONDAY works for me....this Contractor will be paid in the US...money in his account on MONDAY. Can't hang our hat on ust that---there is more intel that points to that.....such as, we have 132 UNHAPPY countries right now....and I asssume you all know Maliki flew to Japan just to calm them down and assure them this rv was on the way???? My 2 cents worth...hope it helps....
Guru BGG: Stop the madness!! It's just not right - and if anyone is guilty (if even a little unwittingly) - it's me - I'll admit...but it didn't take me more than a couple of times to recognize something in the info stream was amiss. We can manage to be uplifting and positive without agreeing with all this nutty stuff. I'll just bet we can find a way.
No one - and I mean no one - knows for sure. We have seen indicators - but this is going to be a very, very, very closely guarded secret (as to the exact timing). Once Dr. Shabibi gives the OK for the rate to go to the BIS - it will go from the CBI to the BIS who will then have 24 hours to disseminate the information the various Central Banks of the world. Once they load the rate and give the final "go-ahead" it will be an immediate process - not over days or a weekend. Immediate - like 15 seconds. Then the Central Banks will move that rate through their systems - which may take a little while but not the kind of time we are hearing. It will also be very quick - speed is part of the integrity of the system.
I'll bet - and this is just a guess....that Dr. Shabibi's first assistant has no clue as to the timing of this event. Not a clue. It's that much of a secret.
So what chance does a currency teller - staring at a screen at least four steps down the chain of events - have to "fore tell" this event??? [BGG] Here's an idea. 1) Tell the truth 2) Tell folks to hang in there 3) and enjoy your day!! What a simple formula!!
Guru Poppy3: everyone will know within 10 min of one anther when the RV hits with or without being online. Poppy3
Just shows where when america works and unemployment is extremely low and bringing in 7 or 8 million more people working paying taxes then the speed at which we grow wealth is very fast. Put the 13 million illegals out and create those jobs, bring the troops home put them on the borders with shoot to kill anyone crossing and get all illegals from any where off the medical rolls and watch this country get back on track and out of debt in 5 years or less. Start pumping our own oil fields again the money will flow and profits will soure. Shame of it all is every peoson running there is not one with the guts to take a stand and get it done. They also should spend every dollar from the dinar directly on the national debt.
DV Member JayP: There was a post that was made by Kaperoni that I would like to address. I am not sure why he would post the things that he did here, as all of the reasons he posted just have no merit, and can easily be proved as false. I understand that it is important to keep site traffic in order to sell products to make money, but not at the expense of misinforming people about this investment, which can put a new investor that may not know better at financial risk.
I have posted a response for each of the reasons he provided. Please see my responses in Blue. I sincerely hope that I can clarify some of the misunderstandings that his post may have caused.
10 reasons why the IQD will not LOP
1. Monetary policy was a success talking inflation from 35% or higher to around 7% currently.
This is true, that the policies have in fact reduced inflation, so I will give Kap a nod on that one, but what is not true, is that this is a reason it will not redenominate. Let’s first make a distinction here, that there is no such thing as a “lop”, and it is just a made up word. The correct terminology is a redenomination, and a lop is NOT a devaluation, nor is a redenomination a devaluation.
That being said, historically, when a country redenominates, it is usually done as a sign that the inflationary period has ended, and why they usually will redenominate after hyper-inflation, not generally during that hyper inflationary period. In fact, it is more of a psychological thing than anything, as well as to ease the cash transactions with the smaller numbers. Now the important thing to keep in mind, is that this does not mean that high inflation cannot occur after a redenomination also, because it could, as it has happened in prior redenominations as well. A redenomination is not meant to resolve inflation, therefore this reason simply does not prove what he is trying to say.
2. Any type of currency devaluation (LOP) is considered a failure of monetary policy. Dr. Shabibi has not failed.
As stated in response to #1, a redenomination does not mean a devaluation. This is a statement that is simply NOT true. In fact, once a redenomination has occurred, the consolidated value of the Dinar could very well be just under, equal to, or over the dollar. For example, if a Dinar is currently .00086:1, then a 25K note is worth about 21.5 USD, and then in a case of a redenomination, if they were to move the decimal over 3 places, it would apply to all things the same, prices, rates, accounts, etc, therefore the new rate can potentially be .86, therefore after the decimal is moved over 3 places, 25 new dinars, would still be worth 21.5 USD. This shows NO devaluation has occurred, and the strength of the new currency has not changed once the zeros are deleted, just as they have stated in those articles we read.
In a redenomination, it would not mean Shabibi has failed, only succeeded in his plans that he has been saying he wanted to do all along. It is the govt right now that does not want him to follow through on his plans to redenominate at this point for reasons they gave of fears of corruption or counterfeiting in the process.
3. Lesser value notes in circulation such as 50, 250, 500. Devaluing the larger 3 zero notes would make them worth less than these lesser notes.
This is an interesting one, one that had me thinking when Kap started with this theory almost a year ago. Unfortunately, this holds no water, as in a redenomination, they do not just redenominate some notes, and not others. When they talk about the 3 zeros, what this actually means is the movement of the decimal point over 3 places. This would apply to all notes, accounts, prices alike. Please look up the terminology for a Homogenous function. You will see the definition of this there. You will also find that this is a term that is used in these 3 zero articles explaining the process as well. Please see the link below and you will see where it uses this term in the explanation of the process:
http://iraqdinar.us/forum/viewtopic.php?f=7&t=28096
Now, here is a definition of Homogenous:
1: of the same or a similar kind or nature
2: of uniform structure or composition throughout homogeneous neighborhood>
3: having the property that if each variable is replaced by a constant times that variable the constant can be factored out :having each term of the same degree if all variables are considered homogeneous equation>
http://www.merriam-webster.com/dictionary/homogeneous
Here is another good explanation:
http://www.economics.utoronto.ca/osborne/MathTutorial/HOMF.HTM
4. Iraq wants the dinar to be an international reserve currency. Cannot devalue the notes in reserve (25,000), circulate them as payment, or traded amongst countries.
First, in this response, please see my response to #2. If the CBI were to redenominate, that does NOT mean a devaluation. That is 2 different things, but something those that want to distort the facts do not want you to realize.
2nd, the rate does not determine tradeability. Last I checked, the Vietnam Dong at 21,000:1 is as good as any other currency, just takes a whole lot more Dong to do business with it. So I have to say, this reason, holds as much value as the Dinar or the Dong does right now!
5. Iraq holds arguable the second largest oil reserves and is mineral rich. They are too wealthy to not honor the value stated on the notes.
Are they wealthy with the Oil reserves, and mineral rich, sure, I will give him a nod on this one as well, but that does not mean that they would not redenominate. The determination to redenominate is not based on Oil reserves, and even if so, having the oil, and getting the oil out of the ground is 2 different things. In either case though, I disagree that there is so much Oil that they can just revalue 1000x the amount or more than they are at right now, not without reducing the money supply first, and this was even stated by the CBI themselves.
6. Iraq has stated..They want the “strongest currency in the Middle East” Any such type of LOP would be a devaluation and therefore not considered strong.
This again goes back to #2. A redenomination is NOT a devaluation. Prove that they are the same thing, and then this is something to consider, until then, I think that we should be a little more realistic.
7. US holds dinar as a result if funding the CBI initial reserves. This dinar will eventually payoff the war debt.
All I can say about this, is show the proof. I will be willing to entertain this idea, if someone, anyone can show any shred of evidence of this to be true.
Let me provide the link below:
http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt
This is from the US Treasury website showing the US Foreign Reserves. You will see that it does not indicate anywhere in here that is shows IQD holdings. There is a group called Oil Exporters. If you notice the 3/ next to the name that refers to the #3 at the bottom and it reads:
“3/ Oil exporters include Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria.”
This means that the amount shown in the row for Oil Exporter nations consist of the combined holdings of all of those nations currency. So unless proof can be given that we hold as much Dinar as some would like to say, this is speculation at the very best, and nothing more. Using this as a basis as to why they would not redenominate would simply be wrong, and I hardly think that a guess at something should ever be used as proof of something, especially when the proof itself is not verifiable. I challenge everyone to ask Kap this question, and I would be willing to bet you would get banned for even asking the question. I know, because I did.. lol!!
The other point I would like to make on this is that, even if we did hold Dinar, if they were to redenominate, as I stated in prior responses, this would not be a devaluation, therefore it would not mean any loss for the US reserves, but it would also mean that it would not be paying for any wars, and for those that may have heard of the wars will pay for themselves rumors, this is not true, and Bush never said those words. I would challenge anyone to provide proof of the quote if they do believe this. In fact, I can provide you with precisely where I believe that rumor came from. It was actually a statement made by Wolfowitz in 2003 talking about Iraq using Oil to pay for their own reconstruction, and I believe some guru out there twisted this quote to what the rumor has become today, like a tall tale over the years.
Here is the quote: Wolfowitz: “We’re dealing with a country that could really finance its own reconstruction.” As Think Progress noted, then-Deputy Defense Secretary Paul Wolfowitz testified before Congress on March 27, 2003, that “the oil revenues of that country [iraq] could bring between 50 and 100 billion dollars over the course of the next two or three years. Now, there are a lot of claims on that money, but that’s — we’re not dealing with Afghanistan that’s a permanent ward of the international community. We are dealing with a country that can really finance its own reconstruction and relatively soon.”
8. One of the authors of the currency exchange plan – Assistant Professor Dr. Fadel states in his documentation, “We must emphasize the extremely important issue is that if you remove three zeroes from the currency should not affect the actual value thereof to be trading in the old currency…
Yes this was said, but please note what I stated in response to #2, in a redenomination, there is no affect on the purchase power, so I believe this to be accurate. In other words a 25K note worth .00086, and a 25 dinar note worth .86, they BOTH equal 21.5 USD, so a redenomination does NOT affect the actual value of their wealth, so this is no proof at all that they will not redenominate.
”9. In 2003 when the NID was introduced at it’s initial rate, the previous currency was in essence devalued taking all wealth from the country to prevent funding of terrorism. Raising the currencies value will in essence, return that wealth now that the GOI is stable and economic conditions have improved.
I am sorry, but this one really is laughable. The fact of the matter, is that this one, is absolutely untrue and inaccurate. In fact, let me provide some proof that I have that proves this one to be untrue.
Please see the below link:
http://treasury.un.org/operationalrates/Details.aspx?code=IQD¤cy=Iraqi+Dinar&country=Iraq
This goes back to Dec 2001. Please see the rate as of Dec 2001: 2023:1 .. yep, that is Dec 2001, well before the NID was introduced, or before we even ever invaded Iraq. The fact and reality is that the currency was being devalued years prior to the NID. In fact, the rate right now is almost twice as high as it was back then PRIOR to the new notes being changed. This was due to inflation, and why the amount of dinars that were being printed were printed. So it would be very wrong to use this as any proof that they would not redenominate, and in fact, only further provide proof that they need to reduce the money supply by redenominating.
10. The CBI has stated “both currencies will co-exist” and the process will not change the “monetary value” of the dinar.
This is entirely possible depending on the exchange process. Romania for example did the same thing, and Iraq even used Romania as one of the examples or models to their plans. There was a time, for about 18 months, where during the exchange period people would be able to use either the old or the new currency for a period of time, and prices were adjusted based on if they paid with the old or new currency, moving the decimal over on the price. Please see the link below that shows an example of a price tag in Romania based on the ROL (old currency) or the RON (new currency).
http://en.wikipedia.org/wiki/File:Romania_revalue_tag.jpg
The CBI themselves used Romania as an example of what they intend to do.
If the intent here is to prove that a redenomination cannot happen, then unfortunately, I think that there will need to be a better attempt at it than this, and a bit more solid proof than this that is for sure.
I do believe that maybe they can just revalue without needing to redenominate, and that is what I hope for in this as everyone else, I am in this to gain just like everyone. While I do hope for the very best though, I also need to be honest with myself, and everyone else. I think giving hope is a wonderful thing, but distorting the facts, or the truths to give hope is not the way to go about it though.
Kap’s intentions may be sincere, and I truly hope that is the case, but I think that in order to be fair, and to be honest with his members, he should either show some real proof that a redenomination cannot happen, proof much stronger than this, or openly admit that it really is a very strong possibility that we all should keep under consideration, and think about.
Guru Kaparoni: JayP, I don't need to discredit you, you do it yourself with your own statements that are contradictory. What you do is interpret statements the way you think they should be interpreted rather than what the correct interpretation is. You forget, I have an Arabic translator friend. Not some software off the internet. The truth is...The CBI is is making a comparison to the purchasing power to explain to the citizens what it will be like post RV, not telling them their currency is devaluing. That is where you try to sit and convince the masses there is LOP or re-denomination. And that is where you are wrong. They could or would never take the wealth from the people after they already took it in 2003. Your common sense lacks common sense.
Dr. Fedel is also a friend of mine. Yes, he actually is as we correspond. And once again, you are wrong. He, like others, have made reference to Turkey, etc as to the procedures of a currency change, never has he referred to the actual event. Again, you twist it to your liking to imply your results.
As well, when or where have I guaranteed results on the dinar? Again more lies by you. I simply clarify the many articles and documents out to give factual evidence. You don't, yours is nothing but a theory, full of holes, misguide information and lack of fact....and bad at that. And if you must know, I am more worried about the GOI failing (hence a collapse of polices) than the notes ever devaluing.
You must be confusing me with some other gurus. Never once do i talk about contracts in dinars. In fact, If asked, often state that all contracts are written in USD as well as the Budget, and employee pay. Their main source of income is USD, therefore it makes sense to price accordingly. Again, your creating lies.
Oh by the way, you should clarify that you did not come into xxxxxxxxxx chat room to discuss this matter with me, to learn the facts, you came in with a fake name to disrupt the room directly after a chat to cause as much trouble you and Tenmillion (also using a fake name) could, with with as many people as you could. Big difference pal. Why did you do that? Because you were already banned by the site admin for doing it before. Therefore, you hold me responsible for your behavior? Laughable. Or how about the little emails you send around? Like to my friend at Douchebag site? Is that your way of trying to talk directly with me and learn? You see i know a bullchitter when i see one....and your full of it.
My advise, get yourself a good Arabic translator to give you the correct interpretation of what the CBI is teaching the people of Iraq. That way, you can come on your little site and educate people rather than scare or misguide them. Oh that's right, that's why you put this nonsense on other sites, cause you have no one who wants to hear it on Tens? What she got 200 members? How is that peeps come to my site after posting a response on your site only to find it has been deleted because it was not to your liking? That does not seem like your educating anyone..but spoon force feeding them BS and non-sense.
Oh btw, I don't own chit on xxxxxxxxxx, I simply agreed to come and teach people (for free in might add). You might want to get that fact correct as well before you tell others more lies. How much money have you and Ten made of her little site with them ads? What a joke.
Guru ScottiG: So many tidbits all saying that the glitches...are resolved and the different aspects and phases of this release of adjusted currency is ready to go into the global banks. From Jordan to Kuwait the banks are ready. We await confirmation from boots on the ground to let us know when this adjustment will hit the marketplace and vendors in Iraq. As stated we already have confirmation that the GOI is to pay staff and employees in adjusted IQD. Contractors have been paid at $3.75 - $4.11. We are in the middle of the RV unleashing. It started week before last and it hit a small stall and then it kept unfolding. We are seeing the banks, exchanges and cash ins. This is not rumor. This is real. we are there.
Guru Med: FIRST THE NEWS LEAKED ABOUT A LARGE DENOM WORTH X AMOUNT, WHAT THIS WAS WAS AN EXPLANATION THAT IT IS NOT A 50K NOTE BUT THAT ONE OF THE NEW DENOMS WILL BE A 50D AND IT WILL BE WORTH THE CURRENT EQUIVALENT OF 50,000 DINAR TOTAL. IF THEY HAD ONLY DISCUSSED A NEW 20K NOTE OR 100K NOTE, THEN THEY WOULD HAVE ONLY ADDRESSED THAT, THAT THE NEW NOTES WILL EQUAL THIS AMOUNT BASED ON CURRENT RATE. ALL IT IS IS THE REMOVAL OF ZERO'S FROM THE NOMINAL VALUE, NOTHING MORE. THEY GAVE OUT THE NEW RATE OF EXCHANGE BUT DIDNT GO INTO THAT IT WOULD BE THIS RATE FOR EVERY NEW DENOM WHICH IS A GIMME. WHAT THEY DID WAS EXPLAIN THERE IS NO MORE LARGE DENOMS BEING PRINTED BUT THE NEW SMALLER ONES WILL HAVE A HIGHER VALUE AS IF YOU HAD CARRIED A LARGE ONE.
Newshound Bondlady: Posting a Email I recieved I thought it was very good,****** The World Economy is Saved!!! ******11/26/11
The World Economy is Saved!!!
By Dene McGriff
The economy looks pretty bleak at the moment. As I have written in the last three articles, there is way too much money and debt sloshing around in the world, too many entitlements, too much complaining and too little production. Interest rates are increasing in Italy, Spain and even France. The debt/death spiral has begun. But what if I told you that we have a temporary fix? Just remember, you heard it here first. I’m not going to back this up with a bunch of links because no one is talking about it and no one is supposed to even know about it. This is hush-hush. But the “powers that be” are about to come upon trillions of new dollars.
Let’s all say it together: “Now wait a Wall Street Minute . . . how could that be?” Printing money and monetizing debt will only lead to ruinous hyperinflation. What you see is what you get. There is no unfound wealth left in the world and gold’s nearly at $2,000 per troy ounce. Ah, grasshoppers, but what if there is and you just don’t know about it? What if the government doesn’t want you to know about it?
What if this little secret changes the course of history?
Before I get to the meat of this, let me ask you a question: Just how did Bill Clinton not only balance the budget but come up with surpluses in his last couple of years in office? These surpluses were in terms of how the budget is computed. There were no real surpluses if you count unfunded liabilities.
Notwithstanding, for the first time in years, these “surpluses” showed up out of nowhere.
Now, let me ask you: Is that because President Clinton was such a frugal spender? Was it because Congress all of the sudden got fiscal religion and stopped spending? Sure, there were military cutbacks, but there was much more involved. The First Gulf War was paid for – not just by the Saudis but also by the Kuwaitis and America actually made a profit!
During the war the value of the Kuwaiti Dinar collapsed to pennies, but the U.S. and a few speculators accumulated hundreds of billions. There is no way of knowing exactly how much but that is the main source for the Clinton surplus. It took seven or eight years to see it, but it finally paid off. The dinar went from pennies to about $3.60 to one dinar, making it one of the most valuable currencies in the world!
When the second Gulf conflict began, Bush and Cheney assured us all thatthe war would pay for itself.
Bush set a plan in motion. When the first Gulf war began, the Iraqi Dinar was at $3.22 to one dollar. It dropped to a fraction of a cent and stayed there for the past two decades. The Iraqi Dinar is still absolutely worthless. It is currently at about 1280 dinars to the dollar. There are many other currencies that are worth much more than their current value, the most notable is China’s, the Yuan Renmimbi; which is worth about 6.8 to the dollar. China has a competitive advantage because it is keeps their currency at a low value. Another example is the Vietnamese Dong which is worth about one hundred dollars per million Dong. Many believe the value is more like 20 Dong to the dollar. That is quite a difference, i.e., 0.0001 vs. .20 – an astonishing differential.
Now, let’s shift gears back to the world monetary system for a moment before we come back to Iraq.
The International Monetary Fund (IMF) realizes that the system of fiat currency (worthless paper money) isn’t working because it is based on the “good faith” of the individual government printing the currency and governments have proved down through the ages they can’t be trusted. There is too great a temptation to deflate the value.
Meanwhile, there is a hue and cry to return to the gold standard because it at least bases value on something tangible and keeps government honest. The problem with the gold standard is that there isn’t enough gold to base a world economy on it. So, what to do?
Over the past few years the IMF has been working on complex formulas which would determine the value of a country’s currency based on their resources and productive capacity. This could mean agricultural, mineral or other natural resources or manufacturing output, intellectual resources (e.g. those who create technology) and so forth. The idea is to come up with objective, quantifiable criteria.
They are currently in the process of revaluing 133 national currencies. Some could go up and some could go down. If this were done on a fair basis, every country would get credit for whatever they produced and their currency would reflect that value.
Now let me ask you: What would happen if all of the sudden a currency worth next to nothing gained a tremendous amount in value? What if the Chinese currency suddenly went up by thirty percent? That would mean there is a lot more money in circulation. We see references in the news about how the IMF and the central banks are trying to come up with a scheme to inject needed cash into the system before the Euro-zone implodes. They have a plan but you will never know how they did it!
BABYLON ON THE TIGRIS-EUPHRATES RIVERS TO THE RESCUE
Now let’s go back to little Iraq. Iraq is one of the best kept secrets. Could it be that had something to do with two Gulf wars? Little Iraq is number three in the world in oil reserves. Only about one quarter of Iraq has been explored. Now they are up to about 40 percent and the amount of reserves continues to grow. The strange thing is that Saudi Arabia’s oil reserves never seem to go down even though they have been pumping oil like crazy for the past 100 years. When drilling for oil in Iraq, you are more likely to hit oil than water and it is sweet crude, the best in the world. Some think it will end up being number one in the world. It is already the first in natural gas. Iraq is also rich in minerals and has historically been the bread basket of the Middle East. It is the site of the original Garden of Eden with the Tigris and Euphrates rivers flowing through it year round. After decades of being ravaged by war, it can once again become a major agricultural producer.
So what does this mean? Based on IMF calculations, the value of the Iraqi Dinar should be around the $2+ range. This is not unreasonable considering other Middle Eastern oil producing countries average about $3 to $1. “So what?” you say. It is estimated that the U.S. government is holding 3.5 trillion Iraqi Dinar (IQD). If it were to revalue to the $3 level, that would be $10 trillion new found dollars (US)! Imagine what fun our legislators would have with that? Of course, they could pay down the national debt, but I suspect they would just rather spend it and look like heroes instead of balancing the budget. We can also safely assume that France, Germany, England and even the PIIGS are sitting on IQD. That would really help as well. But no one will ever say it in public.
Many countries will see their currencies go up. This has been alluded to in the news. This would certainly help solve the immediate crisis. It would inject much needed cash into the Euro-zone, America and the rest of the world. But will it solve the world economic problems? I seriously doubt it. In the short run but not in the long run. It may support a nice little recovery for a few years. That won’t deal with the problem of excess liquidity – too much money and in this case, even more of it sloshing around in the world. Our leaders have shown that rather than let banks and countries fail and restructure, as in “work the debt out,” instead, they pour more good money after bad, only greasing the pockets of the bankers and the elites. No wonder the “Occupy” movements are so upset!
You won’t read about this in the newspapers, CNN, CNBC, Fox or Bloomberg. This is a little secret the politicians will pull out to save the economy, save Obama and save their legislative posteriors. People will think they are brilliant and re-elect them. Currencies led by Iraq, China, Vietnam and a few others will revalue, injecting trillions into the world economy. This will put a temporary patch on Europe and even the US, only postponing the pain for a few more years.
Again, the revaluation of these currencies around the world is designed by the IMF (whose engagement is “international monetary policy”) to reflect tangible (minerals, resource assets) and intangible (intellectual, technological capital) worth of a nation’s currency – the more assets, resources and intellectual capital a nation possesses, the greater will be its currency’s worth…most nation states will find themselves in a strengthened currency (more valuable) – some, like Vietnam and Iraq will reap a bonanza. This temporary fix will alter the course of the elections.
This is just my little prediction. The IMF, the central banks and the governments of the world will ride high for a few more years while the real trouble brews in the Holy Land!
Dene McGriff
Dinar Updates Member Denergy: don't you question it when they talk about cash ins? Personally I don't believe anybody will be able to cashin until it has RV'd globally. What are your thoughts on that? I just cannot understand, if they were cashing in in Kuwait or Iraq and we know that why wouldn't there be a run on the Dinar? Just wondering. This whole group is just too smart - can't pull one over an these folks. Maybe a couple, but not 99.99% of em.
Dinarian Knucklehead: Applying what I learned from people in the Dinar community. Which is what we should all do. I read this article and it caught my eye. Read something before about Iraq adjusting the wages soon. Could this be it. And if so, I added the Exchange Rate from 1991. Best Regards, Knucklehead
Start the meeting of the Council of Representatives and the agenda includes the first and second readings of nine bills
Ali Abdullah – 26/11/2011 AD – 11:17 AM |
Began the morning session today under the chairmanship of the House of Representatives and the presence of Osama al-177 deputies,
According to the agenda for the meeting today, it will read the first and the second of nine draft laws.
A source in the Council in a statement quoted by the agency {Euphrates News} that the agenda for today’s session will include a “reading the first draft Provident Fund Act Customs and the first reading of a bill to support development projects and the first reading of the bill the second amendment to the law of the discipline of state employees and the public sector No. (14) for the year 1991 average. “
“The project will also include the first reading of bill Training Center, monetary and banking system and the first reading of the draft Convention on the Law of trade and economic cooperation and technical cooperation between the Government of the Republic of Iraq and the Government of the Kingdom of Great Britain and Northern Ireland. ”
The source said, “will also include the agenda, the second reading of the draft law of seizure and confiscation of movable and immovable property belonging to the staff of the former regime , filtered, and the second reading of a bill to support small projects generating income and the second reading of a bill to exempt reserves of capital to the mixed sector companies and the second reading the draft law to stamp duty
Exchange rate info-
17 October 1982-1994?
hard peg, 1 Iraqi dinar = US$3.2169
Devalued by 5%. A currency confiscation occurred on 5 May 1993 as Iraq withdrew 25-dinar “Swiss print” notes from circulation (Iraq, decision of cabinet and Revolutionary Command Council, 2 May 1993). Notes were exchanged at 25 new dinars = 25 old dinars until 10 May 1993, but Iraq closed its borders to prevent foreign holders from repatriating the notes during the redemption period. After the period was over, the notes became worthless in areas controlled by the government of Saddam Hussein. The 25-dinar Swiss-print notes continued to be valid in Kurdish areas, which since the Persian Gulf War of 1991 had become de facto independent.RR: Managed float / parallel market. Multiple rates in 1982 and 1983.
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Re: 11/26/2011 - FIVE YEARS AGO In DINARLAND
by Sam I Am Sat Nov 26, 2016 11:35 am
The great Kaperoni/JayP lop debate. Classic! JayP was making some great points back then. Chuckles and I had JayP and Kap on a conference call once and JayP beat him up pretty bad. He's one of the guys who woke me up and got me researching. Wish he would come to Dinar Daily and join the fun.
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