Douchie for May 13-19 (5/19/2012)

First a quick rundown on some of the nonsense from this week and then the award. 


5-17-2012 Blaino  -   I'M LOOKING RIGHT NOW AT A VIDEO FROM A MAJOR IRAQI BANK, FROM IRAQI TV TODAY. GIANT STACKS OF CASH! WORKING ON GETTING IT TRANSLATED. THEY ARE SHOWING CURRENCY COUNTERS GOING A HUNDRED MILES AN HOUR. HUGE STACKS OF CURRENCY AND MEGA PEOPLE IN THE BANK LOBBY ALL LINED UP. I WAS JUST GETTING SOME STUFF FROM A BANK CONTACT AND FROM THE VIDEO GUY. SOMETHING "MAY" BE AFOOT.

OMG!  A bank counting stacks of cash???  Unbelievable!  Stop the presses!!!



5-17-2012  Adam Montana  - If they don't plan on raising the value - why would they change anything?! If they l0p, they lose money. Without a raise in value, they shouldn't redenominate. Since they plan on redenominating, they must be planning on raising the value to cover the expenses of said redenomination, and when the value raises - WE make money. This is and always will be one of my main reasons and arguments for staying the course.

Okay I know you're a Harvard grad and all, but I've seen your math in the past so I know you're not too good in this area.  Allow me.  They've got 30 trillion dinar, right?  And the cost of a redenomination is $150 million?  So if they raise the value by $.000005 that will pay for the RD.  (An equivalent amount post-RD would be $.005.) 

30,000,000,000,000
x               $.000005
          $150,000,000

So we make money on an RV of $.000005? Dude that won't even fill up my gas tank let alone cover the spread on my dinar purchases.



5-7-2012  SWFloridaGuy - The current rate of the IQD was never designed to be a permanent fixture. It's simply a place holder, an imposed, artificial rate that has never represented the countries genuine standing in the world. Iraq truly is a gold mine and we expect to see our suspicions confirmed very soon.

From 2006-2009 they were constantly bumping up the rate as a means of combating inflation.  Then in January of this year they bumped it up another 4 pips.  So if it's an artificial rate then why did they feel the need to adjust it?  What?  Were they just bored with the old rate?






5-19-2012  Footforward - IT DOESN'T MATTER ABOUT IRAQI NEWS. IRAQ HAS NOTHING TO DO WITH THIS. HE, MALIKI, WILL GO BY THE WAY SIDE AFTER THINGS ARE OK. IT SHOULD HAVE HAPPENED A YEAR AGO...LAST JUNE-2011 BUT IT DIDN'T. SHABIBI CAME OUT AND SAID IT WOULD RV IN THAT TIME FRAME LAST YEAR.  

Shabibi said no such thing you lying douchebag!






5-16-2012  Footforward - UNTIL THE RATE GOES LIVE EVERYWHERE, AND IS LOCKED IN AT THE SAME RATE, AND WE ARE TOLD TO CASH IN, ALL RATES ON BANK SCREENS ARE TESTS. PERIOD. THERE IS LIVE TESTING GOING ON, BUT AT THIS POINT NO ONE HAS "THE RATE". THERE IS A RATE OF 17.08 SHOWING ON SOME SCREENS, BUT UNTIL WE ARE TOLD OTHERWISE THESE ARE TEST RATES. THIS SHOULD HAVE HAPPENED SEVERAL TIMES LAST WEEK. SHOULD HAVE GONE LAST NIGHT. I DONT THINK ANYONE CAN SAY WITH 100% CERTAINTY WHY THIS HASNT GONE...IM LOOKING HOUR TO HOUR.

I can tell you "why this hasn't gone".  With 100% certainty, too.  It's very simple FF.  It's never gonna go.  It's a fairy tale.  Currencies don't RV at more than 50% of their value.  They'll either bump it up a few % or RD (lop).


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And now to the weekly award presentation.  This week's Douchie goes to Roger "Dinar Daddy" Dorman.  Congratulations on your third Douchie, Daddy-o.  You won the judges over this week with this little gem:



 
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SWFloridaGuy, a personal trainer, died either of an overdose or suicide a couple of years ago.   He was always very energetic, and thought he had the world by a string.

RIP

I heard a lot of rumors, but I never could substantiate anything.  But naturally when somebody who is so young and apparently healthy dies suddenly you have to suspect that.