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Very Important & Interesting Question About Iraqi Dinar...Insight Welcome! DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Very Important & Interesting Question About Iraqi Dinar...Insight Welcome!

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Very Important & Interesting Question About Iraqi Dinar...Insight Welcome! Empty Very Important & Interesting Question About Iraqi Dinar...Insight Welcome!

Post by openmind Tue Oct 11, 2011 6:07 pm

If Iraq is on the verge of RV-ing then why do they keep sending Dinars to the US through the Dinar sellers? Why do they keep sending Dinars out of Iraq, if the purpose is to draw back all the 25,000 notes?


Last edited by openmind on Tue Oct 11, 2011 7:34 pm; edited 1 time in total

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Post by jbar Tue Oct 11, 2011 6:15 pm

Now that is a good question. My only though is that the dealers may have good stock piles. I would think it would dry up at sometime though. Course they may not want to tip thier hand that it is this close to happening. I dont realy know just felt like typing at the moment.

JP

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Post by sncpitts Tue Oct 11, 2011 6:22 pm

Not like you're going to keep them forever as a souvenir!
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Post by red88lx Tue Oct 11, 2011 6:27 pm

Very Happy

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Post by openmind Tue Oct 11, 2011 6:33 pm

Yeah, I dont want to keep them as a souvenir...i want to cash them NOW!

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Post by dinarace Tue Oct 11, 2011 6:36 pm

Good question. Next question.

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Post by humingbyrd Tue Oct 11, 2011 6:37 pm

dinarace wrote:Good question. Next question.


Are we there yet??????
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Post by BEACHSNAKE98 Tue Oct 11, 2011 6:48 pm

I read that the recognized "dealers" would ony receive a few hours notice before the hammer is to fall.

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Post by raiderman Tue Oct 11, 2011 6:53 pm

Good question Openmind. This is a segway into another question I have (that may have been answered), but I have not seen any chatter about it.

If there are trilions of dinar floating around worldwide (in and out of the USA), where does the cash (USD) come from to support the cash-ins? Is there enough printed USD in circulation to cover the amount that would be needed?

Example: If there are an estimated 3,000,000 people holding an average of 1,000,000 dinar each in the USA (not counting what the UST holds), that equals 3,000,000,000,000 dinar (3 trillion dinar). Add on top of that what the UST holds. For argument's sake, let's say the exchange rate is $3.00 USD. That equals 9 trillion USD for cash-ins just for private citizens like you and me.

Where does the money come from? Does the USA print more? What will back the money? How does this process work?

These may be fundamental questions to some our gurus and economists out there, but just wondering.....

Thanks!

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Post by BEACHSNAKE98 Tue Oct 11, 2011 6:58 pm

It is assumed a great portion of what the US holds will be redeemed for "cheap oil". This form of exchange was contemplated by the Bush Admin. many years ago.

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Post by Inquisitive one Tue Oct 11, 2011 7:03 pm

This is all digital. If you look at how much USD the US has, there is only a small portion of it in actual, physical money.

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Post by GODSERVANT Tue Oct 11, 2011 7:04 pm

Knowing you are are asking questions that by design of their basis are an exercise in futility forces me to remind you that this is GOD'S blessing. You are not obliged to develop questions or comments to frustrate the children. Your ego and intelligence are found lacking. Believe in our LORD and wait for his gifts.

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Post by Cardiac99 Tue Oct 11, 2011 7:05 pm

Maybe I can get my Oklahoma redneck education in gear and answer Raiderman's question. I'll try.

When you cash in, let's say, 1 million dinar and, for the sake of this question, your bank account is credited $4 million. You probably are not going to leave the bank with a wad of $100 bills totaling $4 million. You will probably put the bulk of it in the account for a rainy day. A week or so later, you decide to buy a $1 million dollar house. You go to the bank and get a cashier's check for $1 million. The seller puts that cashier's check in his account and draws off of it periodically. Some of the cash from the cash-in is never "cash" it stays in the form of checks and deposit tickets, etc. Make sense?

If not, oh well, I tried.
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Post by rosienogg Tue Oct 11, 2011 7:12 pm

Exactly cardiac99 !

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Post by raiderman Tue Oct 11, 2011 7:12 pm

Thanks for reply folks.....

I still don't understand though......if it is digital, and we get paid in physical, USD cash at the time of cash-ins......how does that work?

I imagine the large majority of folks will be cashing in simultaneously (or over a relatively short period of several weeks to months). Yes, there will be holdouts waiting for a potentially higher rate, but they will be in the minority.

I'm not talking about the UST and their plans for oil redemption, I'm talking about Joe consumer on the street...

Thanks again.

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Post by openmind Tue Oct 11, 2011 7:17 pm

Cardiac99 wrote:Maybe I can get my Oklahoma redneck education in gear and answer Raiderman's question. I'll try.

When you cash in, let's say, 1 million dinar and, for the sake of this question, your bank account is credited $4 million. You probably are not going to leave the bank with a wad of $100 bills totaling $4 million. You will probably put the bulk of it in the account for a rainy day. A week or so later, you decide to buy a $1 million dollar house. You go to the bank and get a cashier's check for $1 million. The seller puts that cashier's check in his account and draws off of it periodically. Some of the cash from the cash-in is never "cash" it stays in the form of checks and deposit tickets, etc. Make sense?

If not, oh well, I tried.

Thanks for the reply, it explains the difference between digital money and hard cash. I get that. But I believe that only a small fraction of the US Money Supply in circulation is actual hard cash. Regardless even the digital money has to be within the limits of the dollars which exist right?


Now I understand that the Federal Reserve is privately held and they make money out of thin air. But all the dollars which exist is within the limits of the money they manifest. So within those limits, where do the dollars come from?

Why are the Iraqi's going to RV "tomorrow" yet they continue to export their Dinar?

Thanks

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Post by gtabdinar Tue Oct 11, 2011 7:19 pm

Can you say "Digital Credit?" That's all it is. The UST wants all the 25k notes they can get their hands on. Like Cardiac99 just said, they will never have to print out $4 million USD because it will never be taken out of the system. Talk about your pyramid scheme. BTW the UST wants all the 25k notes so that they can purchase more discounted oil from Iraq (and that's how Iraq is gonna' pay for all this----oil/money from the ground). Good job Cardiac!!! I have that same Redneck Degree!!!

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Post by sncpitts Tue Oct 11, 2011 7:20 pm

One word..............WGS
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Post by openmind Tue Oct 11, 2011 7:22 pm

GODSERVANT wrote:Knowing you are are asking questions that by design of their basis are an exercise in futility forces me to remind you that this is GOD'S blessing. You are not obliged to develop questions or comments to frustrate the children. Your ego and intelligence are found lacking. Believe in our LORD and wait for his gifts.

I am not attempting to FRUSTRATE anyone. Neither are the others who ask questions and answer them. This is an open forum. Im not saying the investment is FUTILE. Im asking questions. YOU are not OBLIGED to reading what you don't like. God Bless you with this understanding. Peace.

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Post by openmind Tue Oct 11, 2011 7:24 pm

gtabdinar wrote:Can you say "Digital Credit?" That's all it is. The UST wants all the 25k notes they can get their hands on. Like Cardiac99 just said, they will never have to print out $4 million USD because it will never be taken out of the system. Talk about your pyramid scheme. BTW the UST wants all the 25k notes so that they can purchase more discounted oil from Iraq (and that's how Iraq is gonna' pay for all this----oil/money from the ground). Good job Cardiac!!! I have that same Redneck Degree!!!

I too have that same Redneck degree lol. I understand the UST wants the Dinar (post-RV) so they can use it to buy up Iraqi reserves and pay for the war etc. But all this would be within the limits of the artificial amount of dollars in circulation, right? Digital or hard cash.

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Post by raiderman Tue Oct 11, 2011 7:30 pm

Godservant,

My intention is not to "frustrate the children", but rather, to pose a question to more learned people that I with respect to the economies of the reality of this investment. This also has nothing to do with my "ego". I am simply asking a question regarding the physical mechanics of foreign currency transactions. I am at a loss as to following your thought processes....

As far as insulting my intelligence.....look before you leap....I happen to be a renowned Ph.D. in another field of study....clearly not this one or that would obviously preclude these questions I am asking...

I have plenty of faith, as I am a Christian man, but my faith does not answer these pointed questions. Are Okie and the rest of the gurus and moderators Christians? Do they ask questions? Do they seek intel? Of course they do!

Enough said about that....thank you for your enlightening post...

Cardiac,

Thanks very much for posting a reasonable response I can follow. That makes sense. Keep in mind though that some people may want a full cash-out to put that money in a safe deposit box, under the bed, spend it all without reservation, etc., etc.....you get the idea....

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Post by openmind Tue Oct 11, 2011 7:33 pm

raiderman wrote:Godservant,

My intention is not to "frustrate the children", but rather, to pose a question to more learned people that I with respect to the economies of the reality of this investment. This also has nothing to do with my "ego". I am simply asking a question regarding the physical mechanics of foreign currency transactions. I am at a loss as to following your thought processes....

As far as insulting my intelligence.....look before you leap....I happen to be a renowned Ph.D. in another field of study....clearly not this one or that would obviously preclude these questions I am asking...

I have plenty of faith, as I am a Christian man, but my faith does not answer these pointed questions. Are Okie and the rest of the gurus and moderators Christians? Do they ask questions? Do they seek intel? Of course they do!

AMEN!

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Post by raiderman Tue Oct 11, 2011 7:39 pm

Thanks Openmind.....GODSERVANT just joined today, and with his/her FIRST post, attacks someone they know nothing about....unbelievable!!!!!

Ok, I'll go sit in the corner and suck my thumb, waiting for GODSERVANT to tell me what to think, why to think it, and when I may even think at all!!!!!

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Post by gtabdinar Tue Oct 11, 2011 7:44 pm

Openmind, all within the limits of artificial dollars in circulation AND billions of barrels of oil in the ground. One other thing to remember...the USA will not "cash-in" their IQD for oil immediately...this will all take place over the next 15-20 years. So it "spreads" it all out over time which is a very hard thing to quantify. Thanks. Go RV!!!

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Post by lilcricket Tue Oct 11, 2011 7:52 pm

Several thoughts on this one...not saying any of them are correct...just speaking some thoughts I have had...Perhaps it is the UST that has supplied the Dinar Traders with the dinar they sell us. Maybe the dinar isnt sitting somewhere gathering dust, maybe it is what we are purchasing here in the states all along...the money we have paid for the dinar is kind of like interest while the dinar has been sitting around. Now the UST knows that when this thing RVs none of us will sit on it, we will turn it in. Lets make the assumption that maybe the rate we get will be less than what the UST will get so they make even more money off the dinar on top of the little they have gotten from selling us the dinar via the traders.

Also, since it appears we can print USD on a whim, who is to say they wont print as much actual paper cash as they need??? I for one think tho that most of us are not going to want to have millions of dollars in cash lying around, I know I wont.

Just my thoughts...ramblings really.... Smile

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Post by gtabdinar Tue Oct 11, 2011 8:02 pm

lilcricket...nice! And yes the UST will receive a premium for their IQD. Probably anywhere from 10-25% over and above what we receive. That will come straight from the CBI in credits to the US when they "order up" some crude! 12,500 for a 10,000 note...not bad huh? Makin' money all the way around is the US...now pay off some National Debt!!!!

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Post by openmind Tue Oct 11, 2011 10:47 pm

I see. Lets hope it goes down soon.

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Post by heed Wed Oct 12, 2011 1:11 am

raiderman wrote:Good question Openmind. This is a segway into another question I have (that may have been answered), but I have not seen any chatter about it.

If there are trilions of dinar floating around worldwide (in and out of the USA), where does the cash (USD) come from to support the cash-ins? Is there enough printed USD in circulation to cover the amount that would be needed?

Example: If there are an estimated 3,000,000 people holding an average of 1,000,000 dinar each in the USA (not counting what the UST holds), that equals 3,000,000,000,000 dinar (3 trillion dinar). Add on top of that what the UST holds. For argument's sake, let's say the exchange rate is $3.00 USD. That equals 9 trillion USD for cash-ins just for private citizens like you and me.

Where does the money come from? Does the USA print more? What will back the money? How does this process work?

These may be fundamental questions to some our gurus and economists out there, but just wondering.....

Thanks!
----------------

Here is a link to a post from the end of July, which might answer this question:

http://dinardaily.forumotion.com/t1681-what-will-happen-when-you-cash-in-you-dinars?highlight=WHAT+WILL+HAPPEN+WHEN+YOU+CASH+IN+YOU+DINARS

Hope it helps.

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