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Is it true or untrue that "The New York Times published notice that Iraq CBI is repurchasing the Dinar on the open market at a rate of $1 Billion to $1.5 Billion / month beginning July 2008".

 

I seen it on another forum so I don't know if its just a Guru lie or a fact, do any of you know about this , can you give links?.

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I don't know the answer to your question, but if true, that would be somewhere around 102+/- billion repurchased since July 2008.  In a world that claims there are trillions in circulation, it will take them forever to reclaim that number.  So, I will have to call BS, and lay blame at the feet of another clueless Guru.............Or, do I owe him an apology?   :D 

 

GO RV, and NO BV

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It has always seemed strange to me that the cbi is buying its own currency that it already owns

So they must be selling dollars

The dinar exchange rate is backed by the pegged reimbursement value which is a pegged value to the dollars value

The foriegn currencies are all broken down to the dollars value which is floating on the ability that the USA has to pay is bills or its credit rating

The USA has established its credit rating on the fact that it has never defaulted on making its payments

If the USA cannot make its payments it simply prints up new money and dilutes down its value with a ratio factor of how much they added and how much they had before they printed up more

Percentages

The beat goes on

The us cannot default with its monetary policy they will only depreciate the at accordingly as the debts grow

I don't see any over night destruction of the dollar

It will be gradual

How can Iraq buy back something that they already own ?

I own my car

If I let my brother use it I don't have to buy it back

The dinar in existence are already paid for with the reserves

So if they buy them back with another dollar

Everytime they do it the value should double

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