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Don Paul
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Posts posted by Don Paul
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Biggest Robbery in History?
The L.A. Times coverage of the congressional hearings on the Pentagon's Missing $6.6 billion dollars from 20-some Iraqi airlifts of money from the Federal Reserve of New York is the stuff of which Pulitzers might be made.
A lot of time has passed though, and the finger pointing could drag on a long time. It may even dog republicorp efforts to regain the WH next year.
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What I have heard is that SOME Banks have offered cheap buyouts of about $0.7- 1.17 etc.. BUT its so crazy that none will do more than post a credit, w payout POST RV..
Just more non-US, non-regulated banking vultures speculating
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Ali never said RV by the 16th. He said the end of dealing with RESERVES by that date.
It is your "STRETCH" to make that connection ...
Id be more inclined to believe that date has more to do with the legality of being able to sell Dinars after the Executive Order date runs out than the
connection you are trying to make...
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never heard Ali make a date prediction and I would think he wouldnt even dare, considering
but, a rumor is a rumor
go RV
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i believe Ali from Dinar trade was involved in the Kuwait RV... and where he got his big start
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If that executive order is no longer necessary or applicable, why did O go thru the trouble of rescinding it?
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if they even think of LOP ing, and I think Shabibi is a bit smarter, there would be such a dump of dinars on the marketplace that they would create an incredible drop in their currency value (IE: super inflation) that the CBI could do LITTLE to stop it and proabably crash everything they have tried to build - economically
Think about how many millions and millions of dinars are being held in check waiting for an RI/RV
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Could also mean that Wells Fargo sees a future of volatile currency movements and a way to hedge their own other investment departments into currencies without going thru another entity to do so, like most banks are having to do now.
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19.0 We know that at this point, President Obama has rescinded GWB’s Presidential Order 113303, allowing for the purchase of IQD effective the 12th of this month.
There are two of them one has nothing to do with buying dinars but investing in Iraq only – 113303 order does allow to purchase dinar –s not sure if its coming to an end and being reinacted by our current President – it ended at a perfect time – don’t you?
For some reason it left out 13303.
Read more: http://dinarvets.com.../#ixzz1LyBkZ2j8
Is this what you were referring to.
This is exactly what Im referring to. It is very curious indeed that he made the effort to RESCIND the order.. why do so if it is not "applicable" anyway (as wg52 thinks) ?
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I also think since Dinar Trade officially represented roughly 80% of the DEMAND market in the US, this could help stop the steady stream of dollars back to Iraq weekly and close one more reason for them to not NEED to move forward with their own - I think the Ali thing could be good
(I cant even fathom how much dollar money Ali was sending back back to Iraq for Dinar brokering, though it may have been indirectly thru Dubai or Jordan resellers...) in Kansas, it was estimated by currency licensing officials he had done 400 million (?) dollars worth...
multiply that by MUCH more... just a guestimate
and his brokerage profit of around 20%... not bad... 80 million smakers off the top - conservatively speaking -
Very Interesting! Thanks Don Paul! +1 from me.
We are not being told the full story on the Ali thing I guarantee that! Did you also notice how quickly the the CBI repealed the $10,000 transfer disclosures to $50,000 after they auctions suffered so dramatically. That happened about the same time Ali took a "leave".
yes I did. it opens the money movement from/within Iraq and the end of the US directive curtails dinar movement here. It should be quite a swing, suppy-wise
Ive never heard of INCREASING the transfer level 500% before reporting in any modern monetary policy
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Since the bush directive which allowed us to purchase dinars apparently and officially runs out on thurday and I havent seen a extention granted by the O administration, this means, the supply of Dinars will probably drop considerably, and in MY OPINION will give rise to the outside market of Dinars.
this COULD BE the reason Ali and pumpers had to get out of the official Dinar selling world.
this could be a wooo hooo in itself, as the normal rules of supply and demand SHOULD make the value of the dinar rise considerably in the non-official markets.
comments?
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Might as well wait to come back to the boards until June...I hate to say it but they will NOT RV without security....
Shabibi said that exactly in his recorded US conference. No security - no go
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Thinking allowance to increase transfer amounts outside of country is a good thing?
Anytime you loosen the leash on 'free' trade is a good thing.
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IADS that is perfect, thanks for one I haven't heard of.
I kinda like BMBS big man behind screen.
Its something I just conjured, but dinar forums are probably a great grounds for new virtual social behavior resarch
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This is just another example of IADS - internet attention deficit syndrome
Some newbie felt someone would pay attention to his jiberish and somehow make his world
Gues DV is a two sided sword, its one of the few sites which still allows postings from absolutely anyone - what can you do
new 'twist' for an old saying
its better to not post and not be known as a fool ..
than to post and leave no doubt
guess he felt he wanted to be known .. regardles...
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I must sadly agree that the 'dumbing down' of america is succeeding.
Class and character dont seem to be anywhere in the curriculum, and parents either dont have the time or interest in instilling such in the newer generations.
I think we are somewhat conceited in calling ourselves first world, when you see how people behave in, say, Japan
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"Dinarbanker.com will give you 10% discount if you enter FRANK into the coupon code". Well, friends, this is how a pumper makes money. Haven't seen one this blatant before, though!!
Totally agree. Maybe he should tap dance his way out too like the rest, because if anything were to NOT happen RV-wise, he could be accused of collusion, a very serious offense. Actually, state attorneys dont even need that much to go after someone and Im sure there are a few grandma's that put more than they should of in this deal. I've seen it before with multi level marketing companies...
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just another confirmation that a monkey in a silk dress is still a monkey...
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My comment on your #1 point... If none of these dinar sites have any small denom's left, how can he possibly trade in your huge 25K notes. I looked at most of the dinar seller's sites. They can only sell you 5K, 10k and 25k denoms right now.
Point #2... If they RV at lets say $1 and lock it in at that amount until their supposed time limit ends on 000 notes, you will have no choice but to sell. Once time limit for 000 notes is up then those notes in speculators hands are then toilet paper. The small denoms 50, 250 and 500 would then be allowed to be part of an open money market where the dinar would hopefull go up.
I don't neccessarily buy into his theory, but it does make sense to try to understand it. None of us know how this will go down.
1. There will be PLENTY of small demons to trade down to after the RV. Shabibi already made a statement of currencies existing side by side.
2. I have no idea what you are talking about since all currencies will be available side by side. When it RVs it is an internationally recognized currency and doubt you will be '
stuck" with anything with some sort of an expiration date. They will just remove the larger currencies over time like they already have been doing.
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1. Ali said he would also trade your 000 notes for the small ones at the same cost of 150 dollars per million dinar. Much better deal, so why would you pay a 70% markup now??
2. After RV, you should be able to trade your new internationally recognize currency (dinar) for a miriad of other currencies as well.
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Guest Editorial: Is the Iraqi Dinar a Wise investment?
by FTMDaily.com on April 29, 2011
(Editor’s Note: Jerry Robinson will be traveling to speak on the economic crisis until early next week. He will return to with daily column on Tuesday, May 3. In Jerry’s absence, FTMDaily.com friend, Marcus Curtis, will fill in with his personal financial insights. Marcus has been a student of our Five Levels of Financial Freedom for the last two years.)
by Marcus Curtis | FTMDaily Contributing Writer
TULSA, OK , Apr 29 - Investing in a foreign currency can protect you from the falling dollar and there are several currencies that provide great investment opportunities. The real question is, “Which currencies are safe?” There are pros and cons to any currency investment. Whether you invest to protect your wealth or to make a profit, it is important to remember that investing in foreign currency can be a high-risk venture. You could make a lot of money – or you could lose a lot of money.
I spent the last year studying how different currencies are affected by local economies and what happens to those countries during periods of hyperinflation. Redenomination is a common practice to help control inflation. A redenomination is the printing of new currency to replace all other currency in circulation in that country. Typically, a redenomination comes as a result of a government printing way too much currency. Many nations have tried this approach. Zimbabwe tried this a few times before they abandoned their dollar. Russia’s rubble collapsed 6 times. In fact, there have been over 43 instances of redenomination of fiat currencies around the world in the last 100 years. While a redenomination is primarily used as a means to control or stop hyperinflation, there are a few times when a redenomination happened because of war.
When Iraq invaded Kuwait, they broke into the Kuwaiti Central Bank and stole their entire supply of Kuwaiti dinar. After the War, Kuwait began to recover and restructure again. They redenominated their currency, making null and void the currency that Saddam had stolen. At one point you could buy one Kuwaiti dinar for 5 cents. Now one Kuwaiti dinar is worth well over 3.00. Many people profited from the exchange; in fact, thousands of dollars were made when this currency increased in value.
Germany redenominated their currency after World War II. The Marshal Plan rebuilt Europe and it was at this time that the International Monetary Fund, World Bank, and World Trade Organization emerged. Germany was allowed to redenominate their currency because of the new government that was established after the war. Many people profited from this currency exchange as well.
And now, we are watching Iraq emerge and rebuild. In the fall of 2003, a new Iraqi dinar was issued. People were given three months to exchange the old dinar for the new one. By 2004, the last of the old dinar was taken out of circulation. The new constitution for Iraq established a central bank, independent from the government, that has the sole power to establish the rate of exchange for the currency. In 2004, you could buy 4,000 Iraqi dinars for $1.00. Today, and for the last three years, the rate is 1170 dinars for $1.00. This currency is pegged against the dollar, and even though the dollar has been falling, this rate of exchange has remained unchanged. Some have called this the “dirty float”, because it should have gone up over the last year in direct relation to the falling dollar. However, this has not happened because it is not actually a “floating” rate. It is a controlled rate.
Iraq is currently trying to become a member of the World Trade Organization and one of the requirements for membership is that the nation must have a viable, tradable currency. Since they were removed from the OFAC (Office of Foreign Assets Control) list in September, Iraq has been trying to set up an electronic banking structure and now have their swift codes. Although most of the sanctions against Iraq were lifted in December, they were not allowed to sell their oil directly when the sanctions were in place. During that time, a fund was established for Iraq, called the Development Funds for Iraq (or DFI fund), to hold the money Iraq received for selling their oil after Saddam’s overthrow. Since they were not allowed to collect this money because of the sanctions, it was set aside, on behalf of Iraq, in accounts all around the world. This money will be used for rebuilding Iraq’s infrastructure. Currently, there is somewhere around $280 billion in this fund. Compare that to Iraq’s average annual budget of the equivalent of $65 billion US dollars. This money will be released to them at the end of June, and finalizes the lifting of the sanctions against Iraq.
While Iraq continues to make progress, many people speculate that there will be a revaluation of their currency. In that region, the lowest priced currency of an oil producing country belongs to Saudi Arabia, which is currently around 24 cents. Many people speculate that the Iraqi dinar will rise in value, much like what happened in Kuwait and Germany. Right now, 100,000 dinar will cost you about $164.00. If the Iraqi dinar rises to a rate of 10 cents, you would be sitting on $10,000. Keep in mind that this is a high-risk investment and there are no guarantees. However, it could be interesting to purchase about 250,000 dinars, for a total out-of-pocket expense of $300.00, just to see what will happen. As a general rule of thumb, don’t invest more than you are willing to lose. This is primarily because of the risk factor. I prefer to keep the investment low and the potential return high, rather than to invest a lot of money and lose everything.
Iraq has also been fighting dollarization, which is defined as two or more currencies in circulation in one nation. The two main currencies in Iraq are the dollar and the dinar. Iraq has been trying to remove the US dollar from circulation via its currency auctions. This information is available on the Central Bank of Iraq’s website. So the dinar does compete with the dollar. There was a study done in March of 2010 by the ministry of planning. They concluded that, in order for the dinar to compete in open markets and compete with the dollar, it would need to rise to a rate of $1.13. Here is the document.
http://www.mop.gov.iq/mop/index.jsp?sid=1&id=308&pid=295&lng=en
http://en.wikipedia.org/wiki/Dollarization
So you see this investment has potential. There is debate about Iraq’s intention to revalue its currency. Some say that Iraq will do this through another redenomination. Others claim that this is not the case, because Iraq’s claim to remove the currency with three zeros only addresses the higher denominations. In order for a redenomination to take place, Iraq would need to remove all currency, not just the notes with three zeros. They are simply saying that they will withdraw from circulation the currencies that contain three zeros, once the lower denominations are in place, which will raise the value of the dinar. You must know that both points of view are merely speculation and opinion. If they were to redenominate the dinar, you would not see nearly the amount of gain. You may just break even. Even so, if you have a few hundred dollars to spare, it might be worthy of your consideration to purchase a little, just to see what happens. If you do decide to buy dinar, be sure to get the new dinar. Don’t purchase any dinar that has a picture of Saddam on one side, because that currency is null and void. The dinar also has been remade with a considerable amount of anti-copy protection. In fact, it has more security features then our $20 bill. You can get dinar through some local banks or some of the few currency dealers out there. Some of the more well-known dealers are Dinar trade, Dinar Banker, or Tampa Dinar. Google one of those names for more details.
For more information about this investment you can visit my blog and ask me questions. My blog is called Iraq Currency Watch.
About Marcus Curtis
Marcus Curtis is a FTMDaily guest writer. He is the founder of ***********, a blog dedicated to following the developments in the political and economic developments in Iraq.
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The joke is on the American pubilc, he has probably been dead even prior to 9/11? Jesse Ventura's book is interesting and he presents the debate and linking Bin Laden to BCCI which I had never heard before, which of course was the CIA bank used to launder money in the past? Notice no body or real pics and he was buried at sea??? But of course they took DNA samples to prove they got to correct guy, but when did they get him. Pretty amazingly thin for nabbing the number one public enemy for 10 years.. dont you think?
The next question is why now? little pre-election politics??
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how is the removing of 3 zeros from the currency something good??
RV Announcement !!!!!!
in Dinar Rumors
Posted · Edited by Don Paul
The use of this headline and bullshit content is less than appreciated. You should be banned.
Are you that hard up for attention??