rockfl9

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About rockfl9

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  1. They ARENT destroying any dinar (except 50's) . That is an OLD picture , IF you look closely one stack has Sadams picture . They wouldnt have any of those today!. All 88T is still in M2! That's what counts. The CBI cant destroy dinar bought in the auctions because that money belongs to the MOF. All of the oil income goes to the MOF. Thats where the dollars come from. If Iraq were to discover a Shiteload of gold it wouldnt help the CBI any because the gold would belong to the GOI! The first thing the GOI would/should do with the extra income is to PAY OFF its debts.
  2. Well I often do ask myself how can so many people convince themselves that they will become RICH by simply buying the currency of a POOR nearly BANKRUPT country?????? That IS REAL INSANITY... and after 13+ years they still hang on to the MYTH.....They don't realize they are being DUPED! Even if the dinar were to only double it would be an event unprecedented in recorded history.. Wouldn't make anyone really RICH. I ask , how can that happen???? No one can explain HOW, IT IS too good to be true. It is like being on drugs , It feels good , you are HOOKED and you don't listen to anyone that says it is BAD FOR YOU!!
  3. I'll just keep trying Caz. Hoping someday a real international finance guy will get on and he/she and I can have an intelligent conversation. Till then I will have to put up with you and Shabs.
  4. I think the CBI has issued a Warning. Telling the MOF/GOI that the reserves are getting light and NOT to expect it to continue propping up the dinar. This means be prepared to cut the budget . It asserted its independence and will have to BALANCE between supporting the dinar or preserving the reserves in the future.
  5. RIGHT Shabs... I am still searching for someone who can explain HOW the CBI is going to make the dinar worth one cent ???? They are a few BILLION short in reserves! It does not matter what value the CBI claims it to be , they have to back it up by paying OUT at that amount...ALL the reserves would be gone in an instant well before you even heard.
  6. Caz, as an investor I have 2 rules. #1 DONT loose money. #2 DONT forget rule #1....When I buy a utility product that I expect to put to use of course it will loose value, at least the marketing and delivery cost. BUT an INVESTMENT is not EXPECTED TO LOOSE MONEY, That would be a stupid investment. I expect it to be a profit AND I have a plan to cut my losses if it doesn't. Three years would be an absolute limit. Even if I made an investment and only got my money back IT is a LOSS. The seus, First , I have never owned dinar and I don't smoke (well I do smoke some ribs now and then!) When I said NO value in should have said commercial value. When we took my friends dinar back to the dealer it was the only way to get rid of it .. They only LOST 20%.. I wouldn't sell to another human, .even an adamant dinarian. But you are correct everyone has their own risk to reward criteria. mine is very high( see my rules).. Yours , and many others here are much lower. The CBI has admitted it has used $20Bm of its reserves to prop up the dinar so far , I think it will be $30Bn by the end of the year . At that rate the effective exchange rate would really be .00350 .. It will be interesting what rate they will use for the next budget? The cbi is running out of reserves!... Another thing, the IEA predicts that will stay below $60 thru 2020.
  7. Just like we in US don't sweat pennies and round up to the dollar , Iraqi's don't sweat the single dinar and round up to the nearest 1000 dinar(.86) Thus 1200 dinar becomes 1.2 ! That is the current rate to purchase dollars at a bank ( That is IF you qualify). This came up in a post back in 2011.
  8. The economic reforms that Allak was talking about are the extra requirements that the IMF has required for the new loans. In brief it will require restricting the subsidies for fuel, electric and food. This will of course not set well with the populace. I think the new ration card is part of the process. The citizen will buy an ID for 1000 dinar after proving he/she is entitled . With it they can get basic food items free or at subsidized cost. The problem they have had in the past is that people were dead or no longer qualified but the family continued to use the card. Maybe they have picture on them now? Has NOTHING to do with a potential RV!
  9. Only the CBI will provide the dollars for your dinar! Yep ,. The banks don't want it . Forex wont trade it. BUT the cbi isn't letting their valuable hard currency go! THINK about it . IF they RVd to one cent but would not actually buy it back at that rate WHO would want ANY? Banks cant hold it because of Iraq's credit rating. Its market value is ZERO. YOU are stuck with it .
  10. Per the gov of CBI IF it stopped selling dollars thru the window the rate would float to 3000-4000:1 in the market and would collapse the Iraqi economy...A float IS NOT what you want!
  11. We have been together over 25 years and not much that we haven't shared. Cars, boats, football and women as well as investments . Although a couple have crashed on the woman part. I am sure you have acquired knowledge over the years . hope you ARE learning more about picking losers. Thanks for the offer but its a closed group.
  12. Neat Good luck,
  13. No, we are long time real friends. Poker buddys can safely say "Hey buddy looks like you screwed up here" and it is well taken. But the sell was their decision. I just laid out the facts.
  14. Xchange America a little more than an hour away. Took it in walked out with check in 15 min. They were happy to be done with it. No regrets ..Was a good lesson. sure wont do it again. Hope you are staying out of the desert these days.
  15. HaHa Caz that's a good one. Actually I am surprised to still be here as I really expect I am eroding his business. BUT again you keep avoiding my question! How do you expect the cbi will increase the value of the dinar to produce a profit dinarians? If you "invested" you must have had some kind of understanding. OR like most you just listened to the pumpers Brietling, Enorrste, Terry K etal and believed their BS ...Boy ,gotta get sum quick ,RV tomorrow'. No , Caz I am on a mission in my own little way to shut down every dinar dealer. The RV is a myth and the business is a fraud and I am sure they know it. Its a modern version of snake oil. I have convinced my neighbors who were suckered in to sell. I am expanding my horizons. It is sad that as long as they don't cross the line there is little the law can do.