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


rockfl9
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Still no answer to the original question.... Come on guys . You all did your research. Where will all those dollars come from.

let's see.. The CBI will DECLARE the dinar equal to a dollar. No reason they just pull the trigger. Then all the central banks of the world decide to get in on the action. SO they just print up more dollars, pounds, euros etc.  You call your bank to make an appointment and they "exchange" your dinar for a small (?) fee.  See that was easy.  Till then you WAIT!

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3 minutes ago, rockfl9 said:

Still no answer to the original question.... Come on guys . You all did your research. Where will all those dollars come from.

let's see.. The CBI will DECLARE the dinar equal to a dollar. No reason they just pull the trigger. Then all the central banks of the world decide to get in on the action. SO they just print up more dollars, pounds, euros etc.  You call your bank to make an appointment and they "exchange" your dinar for a small (?) fee.  See that was easy.  Till then you WAIT!

Rockfl9, I don't know where the dollars will come from. That is the question.

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4 minutes ago, rockfl9 said:

Still no answer to the original question.... Come on guys . You all did your research. Where will all those dollars come from.

let's see.. The CBI will DECLARE the dinar equal to a dollar. No reason they just pull the trigger. Then all the central banks of the world decide to get in on the action. SO they just print up more dollars, pounds, euros etc.  You call your bank to make an appointment and they "exchange" your dinar for a small (?) fee.  See that was easy.  Till then you WAIT!

Bingo!!!

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1 hour ago, caddyshack said:

Rockfl9, I don't know where the dollars will come from. That is the question.

It will be a MIRACLE or a BLESSING .Take your pick....

Everyone says DO your research but I don't think they ever thought to crack a book on international finance.  Usually has a chapter or two on how exchange rates are developed. The CBI CAN'T just put a finger up its nose and make the exchange rate whatever it wants.. The CBI's first rule is to support commerce IN IRAQ .  The country is heavily dependent on Imports funded by USD. It is working why take a chance and screw things up? In reality the reserves cant support the  .00086 rate.  It should be lower but changing it would destabilize the economy right now .

Edited by rockfl9
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50 minutes ago, rockfl9 said:

It will be a MIRACLE or a BLESSING .Take your pick....

Everyone says DO your research but I don't think they ever thought to crack a book on international finance.  Usually has a chapter or two on how exchange rates are developed. The CBI CAN'T just put a finger up its nose and make the exchange rate whatever it wants.. The CBI's first rule is to support commerce IN IRAQ .  The country is heavily dependent on Imports funded by USD. It is working why take a chance and screw things up? In reality the reserves cant support the  .00086 rate.  It should be lower but changing it would destabilize the economy right now .

Well I concur.  They say do your research as if it's a 50/50 proposition and one just has to surmise whether it's right for them.  As in should I buy options in soy beans, buy an EFT stock or call my local dinar collectibles dealer and buy dinar.  I mean one's as good as the other, right?

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50 minutes ago, rockfl9 said:

It will be a MIRACLE or a BLESSING .Take your pick....

Everyone says DO your research but I don't think they ever thought to crack a book on international finance.  Usually has a chapter or two on how exchange rates are developed. The CBI CAN'T just put a finger up its nose and make the exchange rate whatever it wants.. The CBI's first rule is to support commerce IN IRAQ .  The country is heavily dependent on Imports funded by USD. It is working why take a chance and screw things up? In reality the reserves cant support the  .00086 rate.  It should be lower but changing it would destabilize the economy right now .

"I believe in miracles...where you from....you sexy thing, sexy thing you....I believe in miracles....since you came along...you sexy thing"

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1 hour ago, caddyshack said:

And we do understand banking now?

Please accept my apologies for whoever abused you as a child or whoever has done some wrong to you where you feel you need to troll this website.

But to answer your question,  I have over twenty years experience in accounting and finance, so yeah I know how banking works.

What experience do you have that makes you qualified to talk down to everyone here?

Edited by Markinsa
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3 minutes ago, Markinsa said:

Please accept my apologies for whoever abused you as a child or whoever has done some wrong to you where you feel you need to troll this website.

But to answer your question,  I have over twenty years experience in accounting and finance, so yeah I know how banking works.

What experience do you have that makes you qualified to talk down to everyone here?

Pardon me, but I believe it was Markinsa who began the 'down' talk by saying we did not understand banking after all these years. If you do have twenty years experience you would not have said the bank didn't give you any cash on your fictional 100k loan because they gave you a check instead. You would've also noted that the bank also counts the loan as a liability as well as an asset just as you are credited with both. But I know what you're doing. The banking system is not a racket or scam or a conspiracy to take down the middle class as you're implying.  Without it you'd be bartering your cow for a couple goats. 

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1 hour ago, caddyshack said:

1. Pardon me, but I believe it was Markinsa who began the 'down' talk by saying we did not understand banking after all these years.

2. If you do have twenty years experience you would not have said the bank didn't give you any cash on your fictional 100k loan because they gave you a check instead. You would've also noted that the bank also counts the loan as a liability as well as an asset just as you are credited with both. But I know what you're doing.

3. The banking system is not a racket or scam or a conspiracy to take down the middle class as you're implying.  Without it you'd be bartering your cow for a couple goats. 

1. I did not say "you" didn't understand the banking system, unless you and rockfl9 are the same person.  

2. Pardon me for not explaining the nuances of accounting and the debit and credit's involved.  I was speaking to rockfl9 at the time and I didn't want to confuse him anymore than he already is.

3. That's exactly my point! I gather neither you or him understand the concept of fiat currency which the Iraq Dinar is one.  The value of the Iraq Dinar does not depend on the ability of the CBI to back it with U.S. Dollars, but rather the value the trader in the currency sees in it.  If a person buys a Painting for $1M Dollars, how was the value of the painting determined?

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50 minutes ago, Markinsa said:

1. I did not say "you" didn't understand the banking system, unless you and rockfl9 are the same person.  

2. Pardon me for not explaining the nuances of accounting and the debit and credit's involved.  I was speaking to rockfl9 at the time and I didn't want to confuse him anymore than he already is.

3. That's exactly my point! I gather neither you or him understand the concept of fiat currency which the Iraq Dinar is one.  The value of the Iraq Dinar does not depend on the ability of the CBI to back it with U.S. Dollars, but rather the value the trader in the currency sees in it.  If a person buys a Painting for $1M Dollars, how was the value of the painting determined?

Interesting observation.  First, it isn't difficult to understand fiat money because everyone knows you can't trade a twenty dollar bill for a twenty dollar gold piece unless you are stupid. We are a fiat, or government decreed currency and thank God for it.  The gold standard would be ruinous because it has no elasticity and is in short supply or limited supply which means it can be hoarded.  Not even Ron Paul suggests we go back to a gold standard. 

Your 2nd sentence is so convoluted I don't know where to begin.  What do mean "The value of the Iraq Dinar does not depend on the ability of the CBI to back it with U.S. Dollars"? If not what are they going to give Iraqis when they cash in during a mythical RV? IOUs?  That has been the question for 15 years? Where oh where are the dollars going to come from to pay all these dinarians a $3.00 RV?  And what is the Fed going to do with trillions of dinar? Do you understand how silly this is? If you're saying it's the value the trader puts on it than you are denying a basic dinarian tenent which says the RV will be by decree and not what the market will bear. If not, then you're on the right track of coming to your senses.  No trader (btw, what trader? There aren't any traders in dinar) is going to say "Sure, I'll give you $3 for your 1 Dinar, I feel it's worth it".  And why won't he? Because it's only worth .0086 cents and that will never change.  You seem to think the rate is being kept artificially low.  If it wasn't pegged right now it would be lower based on your 'trader's' faith in it.  The rate is exactly where it is supposed to be based on the currency reserve the CBI holds. Iraq needs a cheap currency to help exports and grow its economy.  Even if they could magically decree a rate increase they wouldn't because it would kill what economic momentum they might have.    

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5 minutes ago, caddyshack said:

Interesting observation.  First, it isn't difficult to understand fiat money because everyone knows you can't trade a twenty dollar bill for a twenty dollar gold piece unless you are stupid. We are a fiat, or government decreed currency and thank God for it.  The gold standard would be ruinous because it has no elasticity and is in short supply or limited supply which means it can be hoarded.  Not even Ron Paul suggests we go back to a gold standard. 

Your 2nd sentence is so convoluted I don't know where to begin.  What do mean "The value of the Iraq Dinar does not depend on the ability of the CBI to back it with U.S. Dollars"? If not what are they going to give Iraqis when they cash in during a mythical RV? IOUs?  That has been the question for 15 years? Where oh where are the dollars going to come from to pay all these dinarians a $3.00 RV?  And what is the Fed going to do with trillions of dinar? Do you understand how silly this is? If you're saying it's the value the trader puts on it than you are denying a basic dinarian tenent which says the RV will be by decree and not what the market will bear. If not, then you're on the right track of coming to your senses.  No trader (btw, what trader? There aren't any traders in dinar) is going to say "Sure, I'll give you $3 for your 1 Dinar, I feel it's worth it".  And why won't he? Because it's only worth .0086 cents and that will never change.  You seem to think the rate is being kept artificially low.  If it wasn't pegged right now it would be lower based on your 'trader's' faith in it.  The rate is exactly where it is supposed to be based on the currency reserve the CBI holds. Iraq needs a cheap currency to help exports and grow its economy.  Even if they could magically decree a rate increase they wouldn't because it would kill what economic momentum they might have.    

:lol: You obviously don't see how it can be done, but most everyone who believes the Dinar will RV does.  I bought a coffee cup for a coworker for Christmas with the quote: "I can explain it to you, but I can't make you understand it." :lol: Seems like a perfect quote from me to you.

.

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1 hour ago, Markinsa said:

:lol: You obviously don't see how it can be done, but most everyone who believes the Dinar will RV does.  I bought a coffee cup for a coworker for Christmas with the quote: "I can explain it to you, but I can't make you understand it." :lol: Seems like a perfect quote from me to you.

.

Okay, let us make this as simple as can be.  

1) There are 30 trillion dinar in circulation, M1 is 69 trillion

2) There is 1.2 trillion dollars in circulation, M1 is 2.5 trillion

3) 81 trillion dollars in the world

4) Just at an $1 RV event begs the question of where are the dollars going to come from?  Is the CBI going to order the Fed to order the US Treasury to print 66 trillion dollars so you can become rich? Do you understand even if that happened there would be such hyper-inflation around the world that your dollars would become worthless and you wouldn't be any richer than anyone else. You really believe that a 100,000% return on investment for just dinarians is going to happen without affecting inflation and you get to buy everything you want at current prices because you got in on a secret via RV Intel?  

5) Any RV of any rate increase would create a run on the CBIs dollar currency reserve. The CBI would not let that happen.  People want dollars, not dinars. Nothing can change that. Even if the CBI declared an RV it would only happen in Iraq which would cause it to implode into a hyper inflation hellhole. 

6) The much touted $3 RV would suddenly make Iraq richer than all the world economies combined.  How lucky for them that they can just declare themselves rich. Iraq has no reason or advantage to RV even a cent. And you couldn't exchange your dinar even if they could unless you fly there and that may not even work.

You're right. I don't understand it. Nor does any economist.  Can you explain why you and your secret internet world of RV Intel Faithful believe it can happen and how? 

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34 minutes ago, caddyshack said:

Okay, let us make this as simple as can be.  

1) There are 30 trillion dinar in circulation, M1 is 69 trillion

2) There is 1.2 trillion dollars in circulation, M1 is 2.5 trillion

3) 81 trillion dollars in the world

4) Just at an $1 RV event begs the question of where are the dollars going to come from?  Is the CBI going to order the Fed to order the US Treasury to print 66 trillion dollars so you can become rich? Do you understand even if that happened there would be such hyper-inflation around the world that your dollars would become worthless and you wouldn't be any richer than anyone else. You really believe that a 100,000% return on investment for just dinarians is going to happen without affecting inflation and you get to buy everything you want at current prices because you got in on a secret via RV Intel?  

5) Any RV of any rate increase would create a run on the CBIs dollar currency reserve. The CBI would not let that happen.  People want dollars, not dinars. Nothing can change that. Even if the CBI declared an RV it would only happen in Iraq which would cause it to implode into a hyper inflation hellhole. 

6) The much touted $3 RV would suddenly make Iraq richer than all the world economies combined.  How lucky for them that they can just declare themselves rich. Iraq has no reason or advantage to RV even a cent. And you couldn't exchange your dinar even if they could unless you fly there and that may not even work.

You're right. I don't understand it. Nor does any economist.  Can you explain why you and your secret internet world of RV Intel Faithful believe it can happen and how? 

Your numbers are old.

Nov 2016 - 41T Dinar Outside Banks (In Circulation)

Nov 2016 - 45T Dinar Issued

Did you know that at the end of 2015 the CBI had over 79T Dinar in Foreign Assets?

 

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There are those in this world that reject the possibility of plausibility and are H*ll bent on only the guarantee of negativity. Thank goodness since the beginning of time we've had people who believed in the former.....if not we would still not have fire.

 

In the end of the day....we're talking a numbers game...that can be and has been manipulated by ALL governments for decades. This notion that Iraq or any country won't do something because of cost...is insane. Screw the cost for it's always been about power, greed, & ego....always has been. Debt will always be part of it.....USA proves that daily.....and really how many REALLY care.  

Edited by caz1104
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Not my place to ever tell people what to do with their money. I came to this realization  a while ago.  Heck i buy lotto tickets and thats actually pretty stupid but I still do it. Its kind of like paying a tax. Yes there is a chance i could win big but the odds are pretty high that i will lose on lotto tickets. I have fun with it and thats all that matters to me. But its my money and my choice. Just like the dinar. People bought with their  money and thats their choice and none of my business. I still hold some dinar for fun.

But i do know that money lieing around is actually devaluing because of inflation every day.

A $1,000 dollars in 2006 has the buying power of only $813.00 today. But unlike my lotto ticket money which is long gone  at least my dinar still have 81.3 % of there value.

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11 hours ago, Markinsa said:

Your numbers are old.

Nov 2016 - 41T Dinar Outside Banks (In Circulation)

Nov 2016 - 45T Dinar Issued

Did you know that at the end of 2015 the CBI had over 79T Dinar in Foreign Assets?

 

Did you know that 79T Dinar is 67 billion dollars (currency reserve total) and that at the end of 2015 Iraq was in debt 130 billion? Such was the condition in Iraq at the end of 2015:

Iraq economy unlikely to recover due to growing foreign debt, officials say

ERBIL, Kurdistan Region - With an estimated $130 billion in external debt as of December 2015, Iraq’s economy will likely see further stagnation this year after plunging oil prices crippled its finances last year, according to government aides in Baghdad.

Advisers to Prime Minister Haidar al-Abadi told Rudaw the central government finds it increasingly difficult to pay the over $4 billion monthly wages to state employees without a “significant rise in oil prices” in the months ahead.

“We may not be able to pay full salaries in April this year, if the revenues remain low,” a government aide told Rudaw, requesting anonymity since he was not authorized to speak to the media.

Earlier on Sunday Abadi hosted a meeting with a Kurdish delegation headed by Nechirvan Barzani, prime minister of the Kurdistan Regional Government (KRG).

Both Baghdad and Erbil have taken preemptive steps to address the double shock of the Islamic State in Iraq and the swift collapse of global oil prices by reducing government expenditures.

As Baghdad decided to freeze the Kurdistan region’s share of the Iraqi budget in February 2014, the KRG took massive loans to finance its own 1.5 million government employees. The KRG owes an estimated $15 billion in external debts, according to Kurdish lawmaker Firsat Sofi, who also estimated the regional government had $4 billion in national loans.

The Iraqi central government has so far been able to pay monthly wages to its employees, in part because it has had access to its $78 billion international reserve assets. According to the International Monetary Fund (IMF) the country’s reserves have fallen to $66 billion since the end of 2013.

The government has borrowed relatively small amounts of cash in 2014 and 2015 when millions of people were displaced following an ISIS offensive. Finance Minister Hoshyar Zebari told Rudaw last month the country had managed its salaries with an external loan of nearly $12 billion.

The bulk of Iraq’s loans were made prior to the 2003 US-led invasion. Many of the creditors have agreed to an 80 percent reduction of Iraq’s foreign debts, including member states of the so-called Paris Club, which has credited Iraq with an estimated $42 billion.

Iraq has officially asked its Arab neighbors to prolong repayment of loans made during former ruler Saddam Hussein. Saudi Arabia, with over $15 billion and Kuwait, with nearly $7 billion, were the main creditors to the Baath regime during the 1980-88 Iraq-Iran war.

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