SinjinWolf

Eagle 1 IQD RV Opinion

56 posts in this topic

I've never heard of this person who calls himself Eagle 1. Have any of you?

And what do you think of his comments?

I'm neutral right now as I've never heard of him -- just wanting to hear what others think.

I'm not promoting, supporting or disagreeing with his opinion at this point until

I learn more about him. Thoughts, opinions?

===

{Begin chat /post}

"Greetings to all of you! t’s been four weeks since I sent out the last update.

Been meaning to bring everyone current with the news and developments,

but things have really been a zoo for us.

Last night, Frank (Villa) and I did a world-wide conference call in which we

discussed much of the following. I’ve clarified some of the issues in this

email that we didn’t really expand into last night.

This update probably could have been posted several days ago, but we were waiting

to see if the Central Bank (CBI) actually followed through with its plan to begin selling

off a portion of its gold. 12 days ago Dr. Shabibi announced his intention to begin selling

some of the gold in their vaults, but it didn’t actually begin until yesterday. This, along

with some other developments, is a very significant event.

First let me provide you with some numbers and statistics so you know where I’m coming from.

According to the CIA’s statistical reports at the end of 2011 (and they provide

these reports for all countries or nations of interest), the CBI held some 80

metric tons of gold in its vaults at that time. (We know, by the way, that this

number has increased significantly since then; and the CIA is reporting that

central banks worldwide have been purchasing massive amounts of gold for

their treasuries. The Federal Reserve purchased some 400 metric tons of

gold during the past quarter, just as an example.)

So that you understand the significance of these amounts, let me break it down for you.

There are 14.57 ounces of gold in a troy pound.

There are 2200 pounds in a metric ton.

That equals 32,054 ounces in a metric ton.

Multiply that by a rounded off $1600/oz. and you have a dollar

value of $51,286,400 per metric ton of gold.

Now let’s pick an arbitrary number and say that the CBI is going to

sell of a quarter of the gold reserves they had at the end of 2011.

That works out to $1,025,728,000 (a trillion, 25 ¾ billion dollars) in

cash returns to the CBI for the sale of that gold. A trillion plus dollars to add to their coffers.

Why would they do this?

Let’s look at the amount of Dinar that the Central Bank has outstanding worldwide.

According to the latest figures provided by Dr. Shabibi, there are

between 35 – 37 trillion Dinar in circulation outside of Iraq.

The U.S. Treasury holds a lion’s share of that amount, and there

are many other countries that have purchased significant amounts of Dinar.

China has been scarfing up Dinar (and silver) like there is no tomorrow.

Italy and Greece each hold something on the order of 500 Billion Dinar.

According to the Year-End Report issued by Ernst & Young (December 31, 2011, and signed

off as accepted by Dr. Shabibi on February 2, 2012), Iraq’s Central Bank held a total

of $76T+ in monetary assets (cash on hand, foreign currencies, gold, treasury notes, silver,

diamonds and other tradeable securities). I just about did a double-take when I saw that figure. $

76 Trillion in monetary assets is not pocket change, folks! Iraq is one VERY RICH country!!

None of these figures take into account receivables in oil revenue, oil reserves,

proven gold and diamond reserves or other commodities.

You’ll all appreciate that the U.S. military, when fighting the war against Saddam,

stationed soldiers in the streets of Baghdad. When fighting broke out in the streets,

soldiers began digging fox holes and trenches in the streets of the city from which to fight.

As they dug, they discovered extremely rich veins of gold running through the

middle of the streets. At this point, no one really knows how much gold Iraq has

in the ground, but when you remember that this area was part of the Garden of

Eden, it all makes sense!

Back to the question of why Iraq would sell some of its gold: having been in

banking, I can tell you that when bankers are faced with unknown prospects

such as those the CBI faces knowing that they could very well have more folks

cash in their Dinar than their statistical model indicates, they tend to be almost

overly cautious.

From a banker’s perspective, it is very prudent for them to increase

their U.S. Dollar reserves in preparation for a potential run when the

announcement is made. Last week, the IMF announced that the CBI

had 130% of its minimum needed asset requirements to begin the RV.

That may sound impressive, but that’s 130 percent of 15%. We can

round this off and use a general figure. What the IMF was saying was

that Iraq had cash reserves amounting to roughly 20 cents on every

dollar (or dinar) outstanding.

That’s a whole lot better than any U.S. bank, but let’s look at

that in actual numbers.

Let’s assume that investors are going to cash in 5 Trillion

Dinar within a two-to-four week period of the announcement,

and that the initially announced rate will be $3.86.

That means that the CBI will have to cough up $19 Trillion+ USD.

It takes no great rocket science to see that a sudden demand

for that amount of cash could easily put a strain on things – their

monetary reserves notwithstanding.

Apart from the USD the CBI holds in its vaults, it has something on

the order of $5 Trillion in U.S. banks and around $750 Million in

Canadian banks. Selling off some of their gold is a pretty smart

move, and they could easily sell off half of the reserves

(or 40 metric tons) if it seemed prudent to do so.

This is all fascinating information, but I hear the questions:

namely, what does this have to do with the timing of the

announcement and the rate?

Iraq’s President Talabani has just returned (according to unverified info)

or will return before the end of this week.

Shabibi made it clear some weeks back that he wanted Talabani

to make the actual announcement of the RV.

Talabani has already indicated in advance that he will be calling

a public event on Sunday, August 26th. While there are possibly

other reasons for this announced event, there is a general consensus

among our analysts that we will have our RV announcement on that date.

There is other logic for believing that.

In the last couple of days, Dr. Shabibi has announced that the

CBI will release 1 Dinar, 5 Dinar and 25 Dinar coins for public

use and trade on September 1.

It makes no sense whatever to issue a 1 or a 5 Dinar coin if the

RV has not taken place.

What good is a 5 or even a 25 Dinar coin if a loaf of bread costs

3,000 Dinars (current price of a loaf, pre-RV).

If indeed the plan is to release these coins for use on September 1,

then August 26 makes sense for the RV announcement.

(And that doesn’t mean the announcement will wait that long.

It could actually occur even sooner.)

That’s it for the moment! There is another development unfolding

behind the scenes but I’ll hold off on that for the moment.

While it could be related to the RV, or not related, it will certainly

have worldwide economic consequences.

Let’s see what happens over the next ten days or so, and if

it seems appropriate I’ll send out another memo for your consideration."

{End of Chat / post}

===

Thanks everyone!

Sinjin.

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Holy Moley, I love this rumor! I've heard Eagle one speak before. I like him. I'm not sure about the Trillions in US banks, but I like the way he's thinkin. :D

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Holy Moley, I love this rumor! I've heard Eagle one speak before. I like him. I'm not sure about the Trillions in US banks, but I like the way he's thinkin. :D

Thank you for your opinion, Butifidlrm. I know what you mean!

I don't spend too much time in the Rumor section because who knows what's fact or fiction. If this is fiction (and it might be) it's well written.

But I'm not getting my hopes up because this is the kind of thing that can make a person start to yearn - and I DON'T want to yearn!!

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Stay Grounded folks dont get your panties bunched up yet, somethings got to happen soon thow.They have already talked to much crap to there people.They wont lose face in country. B)

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That works out to $1,025,728,000 (a trillion, 25 ¾ billion dollars) in

cash returns to the CBI for the sale of that gold. A trillion plus dollars to add to their coffers.

Well Eagle1 would wanna brush up on his math .... that is not a trillion ..... that is one billion, twenty five million, seven hundread & twenty eight thousand dollars

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Good catch, Machine. I'm not going to disagree with you

when it comes to numbers because you're The Man in

that category!! :)

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:D:D

Great day for a rumor!!!

I do like the his breakdown, and it definately seems feasible, based on the information he provided, so at this point, "I like it"!

Then you throw into this mix, the fact that Adam is starting to shut down VIP enrollment, and seeming very positive about the near future, and "I like that even more"!

Putting all the things together, kinda makes you get that funny feeling in the tummy, that something really great is about to happen!!! :D

Go RV!!!

:D:D:D

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I love this rumor also... if true and Iraq revalues above a $1.00 the shock to thier banking system IMO will not hurt them as Eagle 1 stated.. only the countries who need the hard cash will cash out to help their country and the countries who do not need the cash and hold the larger amounts of dinar will simply cash out thier citizians and hold the dinar to trade for oil or gold itself. and this will not hurt the actual money reserves that the CBI is holding on to. So lets go RV and Git'er Done... :twothumbs:

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Just an FYI Eagle1 is a retired International banker

yep, Hes at franks site and very knowledgeable on bankng the guy knows his stuff and has been in the game for years.

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NWGUY Putting all the things together, kinda makes you get that funny feeling in the tummy, that something really great is about to happen!!! :D

Agreed, NWGUY!

Hopefully this leads to :goodnews:

:twothumbs:

Just an FYI Eagle1 is a retired International banker

Thanks for sharing more about who he is. This makes his opinion an opinion that I would at least listen to. It would be great if he's right! :)

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yep, Hes at franks site and very knowledgeable on bankng the guy knows his stuff and has been in the game for years.

Hey Easy, how would one find Frank's site? Not sure you're allowed to share a link. So, what should I google to find him?

Thanks for your comment.

Sinjin

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yep, Hes at franks site and very knowledgeable on bankng the guy knows his stuff and has been in the game for years.

Not sure why someone negged ya? I got your back. C'mom guys lighten up on the neg stuff.

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yep, Hes at franks site and very knowledgeable on bankng the guy knows his stuff and has been in the game for years.

Easy...someone negged you again....??? I think you have a serial negger, negging you everytime you post. I don't understand people, but I like your post's, and postive outlook, so keep it up!!!

I gave you a plus to even you out, and hopefully whoever the person is that is negging you, has run out of neg's!!! :P

Go RV!!!

:D:D:D

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Holy Moley, I love this rumor! I've heard Eagle one speak before. I like him. I'm not sure about the Trillions in US banks, but I like the way he's thinkin. :D

If Butifldrm says "Holy Moley, I love this rumor," then nothing else need be said. Nice rumor ;):twothumbs:

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A banker that doesn't know the difference between a trillion and a billion? Well, I guess no one said he was a *successful* banker.

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Refer to note 1 in the financial statements. The CBI is made up of four branches. Two branches are not reflected in the financial statements (erbil and sulaimaniya), which are controlled by the krg. I am assuming those two branches have more in assets. In john taylor's book global financial warriors he noted the Kurds received three times the amount of iqd for their currency at the time because it was worth more than the Saddam Dinars. That is why I believe the erbil agreement is key. I hope it will include a consolidation of the balance sheet. It also gets me positive that the Kurdistan region where the branches are located is booming economy, therefore more in assets. If eagle was impressed with the amount of assets he should understand it could be significantly more. Come on international banker:-) reading those financial statements would be like reading the fed's, without 6 of the 12 branches. Ernest and young appropriately noted this in their opinion. Therefore, when the cbi reveals a significantly different financial position, earnest and young cover their reputation. Glta, sorry about typing, I am on a tablet

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Probably the best rumor I've seen in a long time.

Thuggies ready? Check

Happy dance shoes ready? Check

Cell phone charged up and waiting for that text message? Check

Computer on and waiting for the emails (hey, I've got multiple sources!)? Check

Feet on the ceiling? Nope, still grounded.

I'm in the same camp as TonyDownTheShore -- I need to see a link or Adam's text before I get too excited.

Thanks for bringing it Sinjin. You're the best.

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Eagle1s chat is convoluted .. i think he has confused Dinar amounts with dollars... I come up with Iraq holding about 6Ton of gold NOT 80Ton ! So IF they have all that gold WHY would they hold off the IMF on payments to their loans...Why are they trying to sell more bonds to finance reconstruction projects? BECAUSE they are BROKE!

Soldiers digging foxholes finding viens of GOLD???? Geologically impossible !

$3.86 rate ....This statement alone questions any validity.

The coins they plan are alloy based , not gold.

Dont get sucked in .... This absolutely is a pumper message

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Eagle1s chat is convoluted .. i think he has confused Dinar amounts with dollars... I come up with Iraq holding about 6Ton of gold NOT 80Ton ! So IF they have all that gold WHY would they hold off the IMF on payments to their loans...Why are they trying to sell more bonds to finance reconstruction projects? BECAUSE they are BROKE!

Soldiers digging foxholes finding viens of GOLD???? Geologically impossible !

$3.86 rate ....This statement alone questions any validity.

The coins they plan are alloy based , not gold.

Dont get sucked in .... This absolutely is a pumper message

I think he has Confused 76 trillion dinar in reserves - when converted to USD is 76 billion. Time will tell.

Also, it doesn't seem the GOI would continue to run deficits and require external funding if the country had produced 76 trillion USD worth of reserves.

Again, time will tell.

As far as rumors go, this is the mother load .

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I failed to add that the statement that UST OR any other central bank is using Dinar as a reserve currency today is unproven and likely false! The NY FED IS holding $s for the CBI has been stated...No need tohold dinar .. The dollar is the most tradeable currency on this planet..

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REALLLLLY???????

”As they dug, they discovered extremely rich veins of gold running through the middle of the streets. At this point, no one really knows how much gold Iraq has in the ground, but when you remember that this area was part of the Garden of Eden, it all makes sense!”

After that statement, this guy lost all credibility.

I guess they can dig up the gold from the streets that Adam And Eve left behind so they can cover a 9.00 rate. Looks like Okie may have been right at the rate.

:lol:

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