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rockfl9

Lopster
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Everything posted by rockfl9

  1. Currency exchanges are an even money deal. One traders gain is another's LOSS. SO WHO will buy a dinar for a dollar? Banks don't buy and hold foreign currencies , They broker it for third parties. The ultimate customer would/should be the CBI.. We know they only have enough reserve to back the .00086. OR maybe not. With the IMF requiring independent audits of al the GOI accounts maybe we will find out.
  2. rockfl9

    Where's the money going to come from???/

    CL21: Thanks. You have some good points... Since all successful economies use conventional banking , it is hard to ignore . Fiat currencies are here to stay as well as fractional banking. Just think what your life would be IF you had to pay cash for that next new car??? That is what fractional banking provides. NEXT if all currencys HAD to be backed by some precious metal the expansion of a nations economy would be restricted to its ability to mine or obtain that metal.. Of course there are incidents where both practices have been abused. The IMF and BIS rules have been tightened to prevent those. If Iraq wants to become a full card-paying member of the international community it will have to abide by those rules. Of interest here is that IF it intends to offer up dinar it will have to compensate dinar holders at the same rate it does internally. That is in the IMF rules. THIS may be the reason that the CBI has restricted access to the IQD. i.e. not buying back the dinar out of country. THAT is the most important requirement to the RV story that has been ignored. The CBI could RV the IQD any time but I dont know why it would. But it is MOF policy , if not law that will prevent any IQD to dollar exchange outside of Iraq.
  3. rockfl9

    Where's the money going to come from???/

    the d CL21: When the UST/FED creates more dollars it is to obtain something of equal value at the time ... So economically the world,s value stays in balance. The RV as proposed is different . A dinar worth less than a tenth of a cent is expected to arbitrarily increase many times in value without adding anything to the world value. That is the problem. If , as the story goes , the CBI were to officially raise the exchange rate of the dinar to one dollar , the CBI must be willing to surrender a dollar to buy one. If it wont do that no one else will. I dont think the CBI is willing to buy back any dinar outside of the country.
  4. rockfl9

    Where's the money going to come from???/

    My thoughts on the election. Al-sadr is the champion of the poor people . He has seen the rich get richer thru the corruption. If he gets his way he will want to see the budget swing to increasing welfare and subsidies for the poor ... Even if oil revenues increase , the population increase will use it up. More have-nots.
  5. rockfl9

    Where's the money going to come from???/

    Ca z: IF you were so sure that I am wrong you would not keep coming this thread. It does not take an investment expert to see the the flaws in the anticipated RV of the dinar, it is a classical CON. Somehow I think you know that .. You are what i call a :GHOST PUMPER" ... Let us just wait out this election fiasco and the next budget. Nothing is going to happen in RVland till that is over. Seeya then.
  6. rockfl9

    Where's the money going to come from???/

    Being a "fixed exchange" type of currency the only way it can appreciate is for the central bank to increase the reserves without printing more . However this extra hard currency must come from outside the country. Moving money around inside doesnt change anything . During the years 2003 to 2007 the rate went quickly from 1500 to 1200 because the oil revenues were increasing and the CBI had more income than it needed so it was pumped into reserves... An appreciating currency is a sign of a healthy economy. Good show! Selling dinar for dollars would not have stopped the appreciation as long as the correct amount was placed in the reserves. The appreciation continued to 2010 when the rate fell to 1166! It was just good banking by Shabibi,! I dont think the UST bought any IQD. It does not show up on the balance sheet today. When the bottom fell out of the oil price the reverse happened . The CBI needed to put out more IQD but could not put the extra dollars in the reserves so the rate DEPRECIATED back to 1188 , now 1190. Even that is not a true rate because the reserves should be $73 Billion to support that rate. I dont know how they will set the next budget? The reserves are increasing , but also is the amount of dinar in circulation. To get to the mythical 10 cents the reserves would have to be an astronomical 8.8 Trillion USD! 80 times the current annual oil revenue.
  7. rockfl9

    Where's the money going to come from???/

    WE DON'T DISAGREE ! The monies we sent were Iraqi funds seized before the war . It was theirs . BUT nowhere does it say we PURCHASED IQD ..
  8. rockfl9

    Where's the money going to come from???/

    That is not what the article said. The money was Iraqi dollars that were released by EO. We knew most of the funds were there only it was all "electronic " and Iraqis needed spendable cash fast. There was a report on this in "the Economist Magazine. Before the attack our CIA was working with the Kurds in an attempt to remove Sadam and force a regime change. Several attempts to get him failed. The US was aware that Sadam had raided the Central bank 2 weeks before the start of the war we did not know if he was able to get it out of the country. He did not and most was recovered as the article states. Interestingly he did not attempt to take any gold , although some was pilfered by the retreating army most was recovered. When things settled out the central bank had about 10 Billion in cash and gold. That is what backed the new dinar. The UST balance sheet does not show ANY NON SDR holdings (i.e. Dinar) The cost of war has never been an on-budget item . The military acconting systems are a mess . Wars are a blank check to them. When it is over discrepacies are simply zeroed out.
  9. rockfl9

    Where's the money going to come from???/

    You are a MEANIE PP ! I've been thru crashes and wouldnt wish that on anyone . BUT ive learned and am fully backed up. Plus have 2 PC's a laptop and cell.
  10. rockfl9

    Where's the money going to come from???/

    Dinarland IS the WILD. I am just passing the time reading the RUMORS. But along the way i am learning a lot about human nature . The dream of becoming rich in such a mundane "investment " can cause some people to loose all sense of logic. You are right most wont sell simply to do that would be too painful . Avoid the pain , keep the dream alive as long as possible. One more year and then another year. IT has to happen no matter how long it takes .. Avoid the pain.
  11. rockfl9

    Where's the money going to come from???/

    That link was a good find . I am not surprised that the UST has some HARD CURRENCY in the reserves . BUT note there are NO "non SDR " currencies ( dinar , dong, etc. ) listed ! That is what I really meant. The plane loads of dollars we sent in was relief money to keep people from starving , not to buy up dinar. The only dinar that existed then was the Sadam dinar and was of suspect value so merchants wouldnt take it . WE sent in mostly fives , tens and twentys.. that is why it took up so much space. For goodwill the area commanders were given the money to engage local labor. $15 for one days labor , a man with a truck was paid $30-50 for a day. Skilled/educated that could speak english , were hired as interpreters or coordinators for up to $200 a week. It was all spent! I personally did not read anywhere that quoted Bush saying the war wouldnt cost us ... After the fact DO you really still believe that? We are still paying!
  12. rockfl9

    Very useful website

    Tradingeconomics.com , you will Iraq in the countries tab under ASIA. Lots of significant data .
  13. rockfl9

    Where's the money going to come from???/

    Putting more peoples' salaries on debit cards will allow them to hold off printing replacement notes for a while more. Pulling in "chunky money is another thing. I think typical Iraqi does not trust a bank or the GOI to know how much money they may actually have. Because there will be the question "Where did you get this?" Good article on "deleting the zeros" , makes it clear that it involves removing the zeros from ALL the bills and not just resetting the rate. It is a no profit adjustment of all the notes in circulation. NO new millionaires.
  14. rockfl9

    Where's the money going to come from???/

    I dont want to believe this but i think there are a number of people here that are old enough to have grandchildren that believe in a "dinar fairy". They don't know where it will come from but they expect to wake up one morning and the dinar under their pillow will have become dollars. Why bother dealing with a bank when a wish will do it? I know that sounds silly but what you are expecting is nearly the same. The CBi will declare an RV even though it doesnt have the funds to support one. The "Banks ?" will get the word and set up "redemption centers" to manage a mass exchange ! Sorry ,this is all BS and should be in RUMORS.
  15. rockfl9

    Where's the money going to come from???/

    These small bumps could just be an allowance for inflation. Looks like a plan !
  16. rockfl9

    Where's the money going to come from???/

    Under a fixed exchange rate system, only a decision by a country's government or monetary authority can alter the official value of the currency. Governments do, occasionally, take such measures, often in response to unusual market pressures. Devaluation, the deliberate downward adjustment in the official exchange rate, reduces the currency's value; in contrast, a revaluation is an upward change in the currency's value. In the last 3 years the CBI has taken the rate from 1166 to 1190 , a loss of 2 cents per dollar ! That would be a deliberate DOWNWARD adjustment . A DEVALUATION I think the next move is 1200 !
  17. rockfl9

    Where's the money going to come from???/

    I need you all to remain level headed this is only a few $1K loss . There will be opportunities ahead.
  18. rockfl9

    Where's the money going to come from???/

    Chess where do you think the money will come from??? Will the FOREX just accept the RV and begin paying out ? That would be the biggest GIVEAWAY in history. IF you don't know the FOREX is only an exchange market. TO get 1$ per dinar someone must PAY $1 per dinar ( and expect to make a profit). Would they expect to WAIT to earn that profit ??
  19. rockfl9

    Where's the money going to come from???/

    THE CBI can only control the conversion rate IN IRAQ.PERIOD . The international currency market sets its own rate ! IF you dont know that better learn it. The dealers can set the rate today because they have the only supply. What if the CBI offers to sell all the dinar you want at the .00086 rate ? Just print a lot of 25-50K NOTES, MAYBE ADD A 100k . The dealers are out of business and the CBI would initally sell a few million UNTIL people discovered that the CBI is intentionally FLOODING the market . The RV idea is DEAD. Now there is a lot of dinar in the market with nowhere to go. NOW the CBI says we will buy it back at .00080 or less !!! Take it or leave it! Could they do that ? YES , but most if not all central banks would not play that game.
  20. rockfl9

    Where's the money going to come from???/

    King Bean has it WRONG. IF the cbi takes back dinar (3 zero notes !) IT LOOSES dollars from the reserves , NOT adds to ! After the $51.5M is GONE , it cannot buy back any more !!! IT is BANKRUPT 1 NOT GONNA DO THAT>>>>>>>
  21. rockfl9

    Where's the money going to come from???/

    NO only SOME IQD is digital (in Iraq) the rest is T.P.
  22. rockfl9

    Where's the money going to come from???/

    DB. Im sorry that U have felt attacked by any lopsters, if they do it again they will be SPANKED. I do not expect to SAVE anyone , only to impart enough truth that they may save themselves. BTW what ever happened to THE MACHINE ?? Very logical fellow, Answer this. A 1:1 or any profitable RV IS a GIVEAWAY of billions of dollars of Iraqi WEALTH , not just to Iraqi's but also to thousands of non-Iraqi INFIDELS ! YES, I am sure they know you exist. WHY would they do it ? Al-Sadr , a muslim cleric , may gain logical control of the GOI. would he allow it ?
  23. rockfl9

    Where's the money going to come from???/

    WHAT is the cBI/MOF saying ? Inflation is stable , the exchange rate is stable. WHY screw things up ? Everything is fine . Don't change.....
  24. rockfl9

    Where's the money going to come from???/

    Well here we go again! RKYMTNHI: THE reason you will not see any reputable input from Iraq about a change in the value of the dinar is that there is NONE. The CBI with the help of the IMF/WB is keeping the GOI running as best it can. There is NO plan to increase the value . Just keep it from crashing. The CBI has 83T dinar in liability and only $51.5 M in reserves. If you do the math the IQD is really worth only .000621 . If the IQD were to float today that is where it would start. FOREX Dealers are not stupid. Holding to the OFFICIAL rate is the only plan. The next budget may show some sign of reality/.
  25. rockfl9

    Very useful website

    Click on " countries" then slide over to ASIA scroll down to IRAQ click on IRAQ
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