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ShawnW
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Posts posted by ShawnW
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It was the Charlie Rose show on sept 7!
Here is Charlie Rose, I am watching now.
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Here is part 4 from Sept 1st the others are on the right side of the page.
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That is interesting... You can go back as far as 2006 and that has never happened, and now it has been that way since the 5th of Sept. Not sure what it means, tho.
Yeah, I don't have any explanation either it just made me pause when I saw it. Maybe Scooter knows...lol
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Go to the CBI website; on the right hand side of the home page, there is a box with various currencies and their exchange rates. The majority of the currencies do not have numbers by them right now. Some do, like the US dollar, and 2 or 3 more, but most do not. It may not mean anything, but it is unusual.
another thing strange is if you click on currency auctions, then exchange rates pdf listed below the current auction. The has been no Spread for the auction for the last 4 days (you have to scroll to the bottom of the list) I am not sure what it means but scrolling through the list that has never happened before for even 1 day let alone 4 days in a row.
Here is the direct link http://cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf
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Look at the exchange rate pdf file on the website ... the market price and auction price are now both the same for the past few days. What does this mean???
hmmm...... wierd, from a quick scan through that is the first time it has ever been that way. For three days now
Shawn
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I am starting the official countdown to a special day. Go RV!
Happy Birthday!!!!
I am going on the record as saying...my birthday is Sept. 15th and my good friend's birthday is on Sept. 30th. We will celebrate our birthdays this year 1 day after his...October 1st...after the market closes. So I will have my bags packed and ready to celebrate on the road this year. Our plane is about to land!!! Stay Strong!
ps. Scooter...You have done an amazing job and I would like to thank you for all the time you put into your work! You seem to be right on with your timeline!
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Thanks Keep! Good discussion.
I have been wondering where proof of this is as well. And no, quoting someone elses opinion, statement, or blog does not constitute proof.
However I wanted to bring up something of interest that was discussed at the end of last year (when the CBI website updated to its new look) was the interesting html code on the banknotes page.
Knowing a few IT guys myself, its true these guys try to build in code for future use, never wanting to redo an entire page of html when a little foresight would have prevented it.
So check it out. Go to the CBI website, click on "banknotes and coins" then right click and select "view page source" to check out the html coding.
Somewhere around lines 167 to 212 of the html code shows blanks for what looks like six more currency denominations.
Proof of lower denoms?? NOPE!
But you gotta wonder why the code is there..............
Staying thirsty my friend
That is interesting, and I have done enough html to know there is no good reason for that to be in there, unless you were planning on adding something of the same layout to it.
Very cool .
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Here is an Inter view with Tant that has few good points I have quoted a few below.
Now, with the new dinar, we have six denominations for the people. I understand
that they're going to reestablish some coinage and perhaps two additional denominations,
giving them a total of eight denominations plus coinage to continue progressing the
currency situation
So this is saying eight bills and coins.
We contacted a British company called De La Rue. This
company was almost 200 years old and had produced currency for over 150 nations.
They were the masters in anti-counterfeiting techniques and using high-quality paper.
The cost to produce the currency was approximately six cents per note, which allowed for
a very high-quality paper.
So the cost of printing the money is more than it is worth in the 50 dinar case
50.00 IQD = 0.0426785 USD
Iraq Dinars United States Dollars
1 IQD = 0.000853570 USD 1 USD = 1,171.55 IQD
So it was a wonderful thing. Now, some of
them wanted additional denominations, and my understanding here recently is that
Central Bank of Iraq is proceeding with achieving additional denominations. So they're
14
going to end up with something like eight denominations. There is also the coinage, and
that will be very helpful to people.
Now this is interesting, it took me a few reads to really understand it. There is a 14 thrown into the midddle of this sentence. On this intereview it was copied from a file with page numbers and this is in the break between 14 and 15. Not sure if this is where people got 14 denoms from but ???????
I looked for the original link but it seems to be broken
But it does say at the bottom of this that it was originally posted Chief V
Shawn
sorry guys it won't let me post the link
it jsut comes up spammer, spammer as it is another siteBut here is the heading to the original article
United States Institute of Peace
Association for Diplomatic Studies and Training
Iraq Experience Project
HUGH TANT
EXECUTIVE SUMMARY
Interviewed by: Mark Gribbin
Initial interview date: October 22, 2004
Copyright 2004 ADST
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I dont believe the new notes would have Saddam on them as these do.
I am not looking at the older Small Denoms I am looking at the 6 blank (blue) spots in the top section, the post Saddam currency
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sorry this is purely speculation (thus posted in Rumors) There are six blank spots in the current set of notes that are unnamed but have been signed By Shabibi , meaning not released, whether they are going to be or not, is yet to be seen. but it lends to the fact that they are out there (according to this site).
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Here is an interesting link
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Here is a link showing Six Dinar denoms that have not been released yet(highlighted in blue), with Shabibis Signature (27) Interesting to say the least. I got this info from another chat room.
http://www.islamicbanknotes.com/iraq.htm
Shawn
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Its not out of the question.....MANY countries have done that....its called redenominating.....Kuwait even changed theirs apparently since so many dinars were stolen when Iraq invaded so they didnt want the intruders to make a killing off their own currency, mexico did it, russia, turkey....i could keep going.....you have to remember this is not guaranteed to us.....the ball is in the CBI's hands and they can do what they please....its very unlikely they would come out with a new currency, but that does not mean it wouldnt or couldnt happen.....
Yep it is absolutely possible. One thing that is positive is that they have already came out with a new currency once during this ordeal, after the UN sanctions. and they made it a VERY secure currency. If the plan was to only use this currency for the toilet paper value it is currently, and then replace it , they could have done that with TP and crayons, no need to go to all that work if they are going to get rid of it.
Shawn
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you can check your work by pulling up that spreadsheet and checking Kuwaits number, or try to work backwards to get to the current rate. I did both to verify
Shawn
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Answer: $3,875,968
yup
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Ok well I completely disagree and agree, and rather than type a long explanation why (mainly because I am tired) I found an article that sums it up. Enjoy....
By the way, there is a link so this is no longer a rumor........purely fact.
Some people see the glass as half empty. Others see it as half full. But is it really as simple as that? Is it possible to be a bit of both? What are the advantages and disadvantages to both? Maybe there is more to both mind-sets.
When you think about it, most people tend to be an optimist sometimes and a pessimist other times. Ironically, a lot of times things turn out how the people tend to feel about them. If a person feels like something will go well or feels optimistic about it, it usually seems to go well. The same is true of the reverse. When someone feels like something will go badly, it tends to do just that.
So why is this?
Henry Ford once said, "If you think you can, or you think you can't, you are right!" Does this mean that what we think about, whether positive or negative, tends to happen? The only answer that I can really give to that is yes, but very basically. We cannot simply think things into existence, no matter how optimistic we are, if that is all we do. And when it comes down to it, that's not really optimism, but delusion.
But then is there any real difference between pessimism and optimism if, when it comes down to it, the results aren't any different? The short answer is yes, with an added but.
Pessimism will tend to lead to bad outcomes, whether it is because you just think things will turn out poorly and thus do not take any action, or because the pessimism will color your actions and choices and as a result you tend to do things that will make the result what you expected, the bad outcome.
Now where the but comes in with optimism is that the mere act of thinking either optimistically or pessimistically will for the most part produce not much difference in outcome, with perhaps a slight edge to the optimist. However, when you add positive, productive action to that optimism, this is when truly amazing things can happen. You can be as optimistic as you want that you will find a way to get the money for that new car or new house, but unless you are including the productive action that helps to push things to that end, you will never get there. The difference between only thinking optimistically and thinking optimistically while acting in a productive manner is kind of like saying to an empty fireplace "Give me warmth and then I will put some wood in you".
I once knew a woman who always said, "I would rather expect the worst and be pleasantly surprised on the rare occasion when good happens than be disappointed all the time". This pessimistic attitude of hers has brought her nothing but misery and strife, and yet she still thinks it has nothing to do with her. She does not realize that her pessimism is coloring her entire life and making the bad things she expects to happen actually happen. My response to her was always, "I would much prefer to expect the best and enjoy what life gives me than to constantly worry about how bad things are." For a long time, we had the same results. Then I realized that I needed to do my part and put positive, productive action behind my thoughts. And while I am not where I want to be yet, I have moved much closer to it and have been much happier along the way.
So I would say to you: be optimistic! Expect the best out of life! Expecting the best out of life is better than being miserably pessimistic. Above all though my optimistic friend, don't forget to do your part to not just think but also act optimistically.
Under Creative Commons License: Attribution
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I have an account with 5/3 here in mentor, ohio and spoke with the manager. he stated that when it happens and we deposit in their bank there will be no fees
Just make sure you check their spread against the CBI website before you deposit.
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ndantona,
Just read Economist RV Explanation Part I and Part II under the Rumor forum pinned at the very top and you will understand how it is possible for Iraq to afford the RV.
Thanks, I have and will go reread again, the problem is I have had to come up to speed very quickly on this as I only learned about it around a month ago. So the problem is that I read it...........along with 30,000 other posts
in the last month. lolthanks for the tip
Shawn
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Well I'm confused Shawn...How can you say it will stay the same if the remove the 000 from a 25000 note...you would be giving everyone 25 dinar instead of the 25000 dinar that they had...then cashing them in for the RV price...In my book 25 dinar x lets say $3.22 = $80.5o , 25000 dinar x 3.22 = $80,500. How is that the same...Our investment goes up in smoke...So how would a LOP not change the value of the Dinar?
Sorry we are talking two different subjects here. I am talking about reducing the amount of actual cash this is floating around. It will not affect the Cash in or RV. If you look at how much the rest of the civilized world has in actual cash money, versus total currency, you will see that Iraq is VERY disproportionate due to the fact that they did not have a digital banking system until recently. I was looking at some numbers earlier and as of 2007(current numbers Are higher but I don thave the exact s in front of me).
The Us Curently has 759B in Cold Hard Cash
But when you add The total of all physical currency part of bank reserves + the amount in demand accounts ("checking" or "current" accounts).
plus most savings accounts, money market accounts, retail money market mutual funds,and small denomination time deposits
you get 7.44 Trillion
I dont have all the Iraq figures yet but at 25 Trillion in Cash, that is just too much money. Now will that make then come out at lower number to start and then start pulling in some currency to raise the value.... maybe, but that is just my opinion on it after looking and I am not claiming to know it all, just sharing my thoughts.
I guess what I need to do is compare Iraqs numbers to some other Gulf countries and see where it stands.
Shawn
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Scooter it is referenced on page 80 and that is the only place I could find.
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Are We There Yet?
August 31, 2010 ·
I’m still hearing we ARE…. so hang on! Don’t go out and buy more… don’t get too high… just sit still… OR… get on your knees in gratitude.
I believe we will know very soon
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The Trade Bank of Iraq (TBI) announced at
the end of November that it had contracted with
Thomson Reuters for services to access international
foreign exchanges
http://www.sigir.mil/files/quarterlyreports/January2010/Report_-_January_2010.pdf
Just going over the Report to the United States Congress
What exactly does this mean, can anyone tell me?
That is GGGGREEEEEAAAAAAATTTTT news that means being listed on Forex and an internationally traded Currency as far as I can tell. I will do more digging.
Shawn
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This situation you speak of is called a lop and has been debunked several times over. Read a bit about the law passed and look to scooters post for info. Keepemwalkingfunny has probably had the best info as to why this won't happen...
No I am not talking about a lop. I am talking about and RV and reducing liquidity. Both will need to be done. A lop would not change the value ofthe dinar.
There is WAY too much paper money in circulation if that is anywhere near the true number. My guess is that most of it will be converted to electronic currency like most of the world is using now.
Then we can all be on the FIAT system.
Shawn
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This is my very first post -- so here goes..........
The value of the USD used to be based on the gold standard -- whereby the currency circulated was based on the value of the physical gold ingots stored in the reserves. In other words, if the USA wanted to print more currency, they had to have more ingots stored.
Now that the USD is off the gold standard, the value of the dollar is based on the country's (and world's) trust in the credit worthiness of the USA based on any number of things (economic strength, military strength, whatever). Needless to say, this "trust" can be fleeting whereby any particular event (domestic or international) could cause the dollar to plunge (like China no longer willing to buy our debt, for example). The printing presses can churn out more bills whenever the government dictates -- without the constraint of basing those bills on any physical measurement of wealth.
This leads me to the IQD. I have always wondered how in the world the Iraqi banks could absorb an increase in the value of the IQD from 1170 to the USD; to, say, 1 IQD to 1 USD. Many have said that Iraq need not have all the dollars to pay in the redemption of the dinars, but would pay off a lot of it in oil -- a natural resource of value to the world. Notwithstanding the fact that Iraq has the fourth largest oil reserves in the world, that would still be a helluva lot of oil to pay.
Could someone explain this a bit more -- how Iraq can practically and realistically pay off the world's holders of the IQD (post RV) with the natural resources it has? They are still some time away from developing their full extracting capacity to their intended output of 6 million barrels a day.
Thanks...........
Nicky
My own personal understanding is this. The Dinar was not devalued over time due to GDP, oil production, or anything like that, but due to the sanctions and restrictions put on it from the UN. The true value of the dinar never left. Now they did have to print much more currency to be able to survive paying 50,000 dinar to go out to dinner, but if you look at the numbers there is somewhere around 25 trillion dinar in circualtion supposedly. Before all of this there was about 25 billion, so if they RV at around the previous number of 3.22 and pull all of the bills with 000's on them back in they can reduce the currency in circualtion back to its previous state ( 25 trillion minus 000 is 25 billion) and the only thing that has happened is that the currency is functioning at the state it was valued before all of this mess started.
Now that is my opinion, so take it for what its worth.
Shawn
Tony blair news statement
in Dinar Rumors
Posted
This Conversation was in regards to the middle east peace process. and the quote was after the question "so you're optimistic?"
" I am optimistic, funny enough, If we can get past the next few weeks then we can get past the next few months"
Shawn