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BetOnDinar

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About BetOnDinar

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  1. Interesting thought ... they might have had it all along? That could very well be the case. Another very interesting possibility I hadn't thought of ... I can retire if it goes to .02 cents too. When I think about what you've written, I don't know how the dinar can't be profitable.
  2. I've been really excited lately about the news that the CBI has been significantly adding to their gold reserves. But, as I think about it, I'm not sure it's a good thing. Here is my question: If the CBI knew a revalue was coming, why would they buy gold today? Why wouldn't they wait and buy it after the dinar revalued and was worth much more? With a revalued dinar, they could get a whole lot more gold for the same amount of "money". Think about that for a minute. If they knew a revalue was coming, why would they buy anything now? Why not wait until their buying power had revalued higher? And, it doesn't matter whether they bought the gold with US dollars, Euros, or the Dinar. Either way, they are essentially buying it with dinar. If they bought the gold with Euros, then they had to sell dinar to get the euros, so it is really all the same. They bought the gold with dinar that is currently worth very little. Why would they do that if they knew a RV was coming? That question is making me fell a little sick - I have lots of dinar and I'm going to keep it. But, that thought kind of takes my hope away. Here is an analogy: If you owned some shares of Apple's stock, and you KNEW Apple's stock was for sure going to go up by 10,000% really soon, would you sell the stock today and buy gold? No way. You'd wait until the stock went up 10,000% and then sell it for a ton more cash ... which you could used to buy a whole lot more gold. I believe the CBI knows if the dinar is going to revalue or not. If they know, why would they buy gold today? Why? It makes no sense to me unless they know it is not going to RV. I hope someone can logically tell me why I'm wrong. I'm not trying to be negative. I'm just trying to assess the facts and figure out what it all means. Thanks.
  3. What are all of you talking about? The CBI has had pictures of the lower denomination notes and a couple of coins on their website for a long time. http://cbi.iq/index.php?pid=Banknotes
  4. BAGHDAD (AP) — A senior Iraqi official says daily oil exports have shot up in February to 2.8 million barrels from nearly 2.3 million barrels in the previous month, thanks to a small group of international oil companies developing oil fields and export infrastructure. Iraq's Deputy Prime Minister for energy, Hussain al-Shahristani, also said Saturday in the southern oil-rich city of Basra that average production, including the exports, exceeded 3.5 million barrels per day last month. Al-Shahristani described the figures as "unprecedented." Iraq's daily oil production and exports have climbed steadily since 2011, nearly two years after Iraq awarded rights to develop its major oil fields to international oil companies. It holds the world's fourth largest oil reserves, some 143.1 billion barrels, and oil revenues make up nearly 95 percent of its budget. Source: http://www.wtvq.com/business/story/Official-Iraqi-crude-oil-exports-jump-in-February/j9NpxCgbpkiL7a3-lm08wg.cspx
  5. Director-General Roberto Azevedo gestures as he is congratulated by delegates after the closing ceremony of the ninth World Trade Organization (WTO) Ministerial Conference in Nusa Dua, on the Indonesian resort island of Bali December 7, 2013. (Pic: Reuters) Randy Fabi – 07 December 2013 The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add $1 trillion to the global economy. The approval came after Cuba dropped a last-gasp threat to veto the package of measures. "For the first time in our history, the WTO has truly delivered," WTO chief Roberto Azevedo told exhausted ministers after the talks which had dragged into an extra day on the tropical resort island. "This time the entire membership came together. We have put the 'world' back in World Trade Organization," he said. "We're back in business...Bali is just the beginning." The talks, which had opened on Tuesday, nearly came unstuck at the last minute when Cuba suddenly refused to accept a deal that would not help pry open the U.S. embargo of the Caribbean island, forcing negotiations to drag into Saturday morning. Cuba later agreed on a compromise with the United States. Speaking today on his return from WTO's 9th Ministerial Conference in Indonesia, Minsiter for Jobs Richard Bruton T.D. welcomed the historic breakthrough in world trade negotiations that has been achieved. “What was agreed in Indonesia is globally significant. It will cut customs red tape and bureaucracy, making it cheaper, smoother and quicker for exporters to sell internationally. It is highly significant for agriculture, trade facilitation and support for developing countries. It will help provide food security for billions of people, while opening new markets for less developed countries to sell more, helping their economies grow and take greater strides in tackling poverty," he said. “This clearly shows that the WTO can deliver new trade rules to bring economic opportunity and benefits to business - and ultimately jobs - in developed and developing countries alike.” But there was skepticism how much had really been achieved. "Beyond papering over a serious dispute on food security, precious little was progress was made at Bali," said Simon Evenett, professor of international trade at the University of St Gallen in Switzerland. "Dealing with the fracas on food security sucked the oxygen out of the rest of the talks." The talks had begun under a cloud because of an insistence by India at the outset that it would only back an agreement if there was a compromise on food subsidies because of its massive program for stockpiling food to feed its poor. India, which will holds elections next year, won plaudits at home for taking a stand on behalf of the world's poor. An eventual compromise was greeted with jubilation by Trade Minister Anand Sharma. While India had insisted on a permanent exemption from the WTO rules, the final text aimed to recommend a permanent solution within four years. But the agreement is a milestone for the 159 WTO members, marking the organization's first global trade agreement since it was created in 1995. It also rescues the WTO from the brink of failure and will rekindle confidence in its ability to lower barriers to trade worldwide, after 12 years of fruitless negotiations. The deal would lower trade barriers and speed up the passage of goods through customs. Analysts estimate that over time it could boost the world economy by hundreds of billions of dollars and create more than 20 million jobs, mostly in developing countries. It still needs to be approved by each member government. "It is good for both developed and developing members alike," U.S. Trade Representative Michael Froman said. A study by the Washington, D.C.-based Peterson Institute of International Economics estimated the agreement would inject $960bn (€700bn) into the global economy and create 21 million jobs, 18 million of them in developing nations. The deal slashes red tape at customs around the world, gives improved terms of trade to the poorest countries, and allows developing countries to skirt the normal rules on farm subsidies if they are trying to feed the poor. The ministers had gathered with a clear warning that failure to reach agreement in Bali would turn the WTO into an irrelevance and trigger a rush towards regional and bilateral trade pacts. It came almost 20 years to the day since a similar nail-biting conclusion to another marathon negotiation - the talks to agree the creation of the WTO itself, which wrapped up in mid-December 1993. That was the last global trade deal. The Bali meeting was also noticeable for its lack of anti-WTO protests compared to the street battles when ministers met in Seattle 14 years ago. The Bali accord will help revive confidence in the WTO's ability to negotiate global trade deals, after it consistently failed to clinch agreement in the Doha round of talks that started in 2001 and proved hugely over-ambitious. As the Doha round stuttered to a halt, momentum shifted away from global trade pacts in favor of regional deals such as the Trans-Pacific Partnership that the United States is negotiating with 11 other countries, and a similar agreement it is pursuing bilaterally with the European Union. Reuters Source: http://www.independent.ie/business/world/wto-overcomes-last-minute-hitch-to-reach-its-first-global-trade-deal-29818851.html
  6. Here is an article that demonstrates what lost oil production costs are, and how disruption of oil production can affect a country and it's government's budget. Interesting ... Libya lost $7 billion to oil strikes, must find new buyers 12/07/2013 TRIPOLI (Reuters) - Libya has lost more than $7 billion and faces new competition from Algeria and Nigeria in oil markets due to strikes at oilfields and ports drying up exports, Oil Minister Abdelbari al-Arusi said on Saturday. A mix of militias, tribesmen and civil servants have seized most oil ports and fields to demand more political power or higher pay, throttling Libya's oil export lifeline. The OPEC producer is facing turmoil as Prime Minister Ali Zeidan's government struggles to control dozens of former militias which helped oust Muammar Gaddafi two years ago but which have refused to give up their arms. Arusi said Libya had lost 9 billion Libyan dinars ($7.29 billion) in oil revenues after output had fallen to 250,000 barrels a day from 1.4 million bpd in July. He did not say how much Libya is exporting, but his deputy told Reuters last week that up to 50 percent of output was being used to keep the 120,000 bpd Zawiya refinery running. "We are facing a big problem because oil from Algeria and oil from Nigeria has entered the Mediterranean (market)," Arusi told al-Naba television station. "We have started looking for new markets in east Asia to offset the loss." He said he hoped export ports would start work soon but did not repeat comments from Wednesday that terminals might reopen on Tuesday. Arusi said the government was having trouble drafting a 2014 budget due to the drop in production from 1.4 million bpd in July to 250,000 bpd now. "We have a problem now. How are we supposed to prepare the budget?" he asked, adding that initial planning had assumed output of around 1.3 million bpd. He said only the El-Feel field, offshore operations and fields belonging to state-owned Sirte Oil Co in central Libya were still producing oil. Arusi said the abrupt halt in production had also damaged pipelines and other oil facilities, while some oil staff were in bad shape psychologically due to the strikes. "We are talking here about many cases, not just one" he said. OUTAGES He said the electricity supply would improve within hours after members of the Amazigh, or Berber, minority had ended a blockade of a gas pipeline feeding a power plant in western Libya which they had staged to demand more political rights. However, outages again hit central parts of the capital Tripoli on Saturday. Zeidan has failed to end strikes disrupting oil and gas supplies which started in earnest in the summer. One difficulty is that protesters are not a unified group, but range from a regional autonomy movement in the east, civil servants seeking pay, and minorities like the Berbers who want their language recognised. Those demands are hard to meet for a prime minister weakened by political infighting. Western powers worry the North African country will slide into instability with militias calling the shots in the streets while the government struggles to keep the budget running to pay civil servants and ease social tensions. ($1 = 1.2342 Libyan dinars) (Reporting by Ulf Laessing and Feras Bosalum; Editing by Alistair Lyon) Source: http://finance.yahoo.com/news/libya-lost-7-billion-oil-190354912.html
  7. Does this impact the Dinar? Does it apply to our investment? China to probe use of foreign currency in trade finance 12/07/2013 BEIJING (Reuters) - Chinese regulators will clamp down on banks' and companies' use of foreign currency for trade finance by ensuring that trade deals are authentic and by monitoring for unusual cross-border cash flows, state media reported. The report did not specify the illegal activities targeted by the State Administration of Foreign Exchange (SAFE) in the clampdown. China is in the midst of an effort to quell currency speculation, however. Banks have not fulfilled a duty to carry out their own investigations into the use of foreign currency, prompting SAFE to carry out its assessments and punish institutions accordingly, Xinhua reported on Saturday. According to SAFE, the authenticity and compliance of long-term trade financing will be a particular focus of the crackdown, the report said. Penalties for any illegal activity will be increased, Xinhua said. The foreign exchange reserves of China's central bank recently reached their highest level since January 2008 as a result of the rising value of the renminbi, Chinese policy reforms and market expectations that the U.S. Federal Reserve will soon start curbing monetary stimulus, Xinhua said. (Reporting by Paul Carsten; editing by Jane Baird) Source: http://finance.yahoo.com/news/china-probe-foreign-currency-trade-144918869.html
  8. Woo Boy!!! My stomach is going to rupture ... I'm laughing so hard I crying ...
  9. Woody, On another posting, you wrote you were a published author. By published, did you mean fiction on DinarVets??? What a total joke! And some people are responding as if you are serious. That is so cruel. LOL.
  10. Hey! Is that date April 8, 2010 ????? Are they ahead of us that much? The date format made me think it was August at first, but then I realized August of 2010 has not occurred yet. If this is today's news ... then is is pretty big stuff!! Thanks!
  11. Hey everyone, Correct me if I'm wrong ... but was the first posting in this thread an error? The CBI sold 113 million dinar, not 113 million dollar ... right? It was a dinar sale, not a dollar sale. Right? That is why later in the statement it says that none of the banks were selling dollars. Not selling dollars. What this means to me, is that they are selling dinar, and receiving dollars (as well as other currencies) and are not willing to buy any dinar. Am I wrong? When it says that none of the banks are selling dollars ... doesn't that equal that they are not buying any dinar? This is my understanding of these dinar sales by the CBI. It has always been this way and it makes me uncomfortable when I try to understand why they will not buy the dinar back ... they only sell it. Of course, we all hope this will change.
  12. Most of you seem pretty sure this is going to RV in a big way. I sure hope so. I bought 2 million dinar but I have a hard time believing this will really happen. Can it really happen? Can it? Could it really RV at $0.30 and make my 2 million dinar worth $600,000 USD? Or more? MAN!! That would change things for me. I bought the dinar because I don't believe it will really go down in value and do believe it will increase in value, but the longer this continues without a RV, and the more dinar sold, the harder it is for me to have confidence anything substantial will happen with a RV. I simply worry that all the dinar being sold is essentially "diluting" the value of the currency. What can you share to provide confidence to me, and others who are doubtful?? Many thanks in advance.
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