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frankc
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Posts posted by frankc
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It just means they have gotten the topic "bumped" to the top of the list.
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I did a poll...80% of the people who polled.....dont even know what deleting the zeroes is. Theres no use in asking luigi......he just doesnt know just like so many others. of course...this isnt im right and your wrong sort of thing. this is where 80% dont even know a currency definition thats happened approx. 100 times in the last 70 or 80 years. ive given up.....i wont even say anything when they are totally clueless. Just let them continue wandering around clueless...otherwise be prepared for confrontation. ive got better things to do. than explain something thats happened 100 times...under the same circumstances.
You are so right. Don't know how folks misintrepret an rv out of an rd description.
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If the gigantic math error had already been pointed out it might have been appropriate to have mentioned it so the "newbies" weren't misled.
The CBI site states there are 69 Trillion dinar in supply not simply 1 Trillion as in the example. To do a $2 or $3 USD rv does tend to stretch the immagination especially since Iraq has been publishing many articles saying they plan to redenominate their currency by deleting three zero's from their currency notes. On april 12 Iraq published an article saying they do not have the resources to pull this gigantic amount of currency in and inspect each note so plans were cancelled until further notice. All of us hoping to make money on this certainly don't want Iraq to RD.
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"Let’s say there is a billion USD worth of Dinar out there right now, or 1 trillion IQD. The CBI pays $2.25 for every $3 worth of Dinar, then resells it the next day for $3. That’s a profit of $75 billion just on the spread. Not bad, right?
The problem is it cost them 225 billion to do that… and that 225 billion goes right into the “debt” column."
The math is not correct in this example. If the CBI were to pay $2.25 for every dinar and the assumption is there are $1 trillion IQD out there then the CBI would be on the hook for $2.25 Trillion USD not $225 billion.
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Asset backed currency, little risk, potentially great return. Late 2009 Basel 111 started and countries (G20) had 3 years to become compliant. 3 years are up this year. Basically forces banks to have more sizable assets to leverage against. Fractional lending in reverse. IQD backed by oil, gold, etc, assets proven to WTO, they are ready to go. US treasury notes backed by gold, Vietnam found a whole lotta gold recently, hmmm. World is becoming Basel 111 complaint. tick tock, tick tock, IQD is gonna ROCK!!!
BUY MORE 4 SHORE.....Don't kill yourself financially, but this investment is solid.
US Treasury notes are not backed by gold.
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Ali's exchange rate is among the lowest in the industry. He subtracts $150 from the advertised $900 and subtracts shipping, wire fees, etc making your net almost $700/mil. A total rip off to those selling back to him.
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So Scooter says they have a lot of things to do before they can move forward. Intrepretation, nothing happening soon. We have a long wait. I don't like the sound of that.
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Yes, it surprised me how LITTLE Ali is paying to buy back dinar.
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FYI--I called DinarTrade in LV today to verify their $900/mil. Unfortunately you need to read the fine print which states that Ali charges a $150 exchange fee plus shipping against that $900 so you end up very close to $700/mil. Ali, Ali he's our guy.......sure. Another rip off from Ali. He'll make close to $400 on every million buy back and flip. He just opened LV to make money. Don't read anymore into it.
Also, the office is not open to the public. You are not allowed to go there. You must fill out their form on line and mail your dinar to them.
GID does buy back as advertised at $940/mil with no hidden chgs they told me but they only buy back from their previous customers.
So if you didn't buy your dinar from them you cannot sell your dinar to them. Take note.
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I called DinarTrade in LV today to verify their $900/mil. Unfortunately you need to read the fine print which states that Ali charges a $150 exchange fee plus shipping against that $900 so you end up very close to $700/mil. Another rip off from Ali.
Also, the office is not open to the public now. You are not allowed to go there. You must fill out their form on line and mail your dinar to them.
GID does buy back as advertised at $940/mil with no hidden chgs they told me but they only buy back from their previous customers.
So if you didn't buy your dinar from them you cannot sell your dinar to them. Take note.
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Since 5th 3rd won't buy back dinars they have sold. . .sell them to Ali who posts he will buy them without hesitation at $900!
Wrong. You need to call Dinar Trader. I did today. They advertise $900 a mil but then you find out the take an additional $150 a mil plus shipping which leaves you with not much over $700 a mil.
Ali is back to soak investors and make more money at our expense. No other reason.
I also called GID and they only buy back from previous customers. No one else.
I don't think this is good news for us. Sell back options are dwindling fast.
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I remember that scenario was passed around a yr and a half ago by a guru and still doesn't make sense. How and why would Iraq possibly use all their oil dollars(their main resource) to pay for an rv when they need more oil than they currently produce to keep the country running (as poorly as it is done). It would break the country.
Iraq has been publishing articles for a long time saying the intent is to do an rd and recently came out and said they don't even have the resources in place to do that.
It came out late last yr that the US FED secretly had created and spread $16 Trillion dollars around the world to many foreign banks and companies to prop them up. Look how that has turned out. The world economy is tanking still and with the gigantic debt just getting larger is on the brink.
How is Iraq with their tiny GDP, no infrastructure or security and worthless currency going to rise up out of the flames and save the world. Would love to see it happen but it does test the imagination just a tad bit.
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gidd has been paying 940 for a long time so wouldn't read much into ali buying at 900. not sure what he was buying at before but probably anticipates having business boomign now that he's back and needs a good stock.
You need to check your facts a little closer. GID only buys back from previous customers. You had to have bought your dinar from them or they will not buy them. They do however pay $940 without an exchange fee of $150 like that crook Ali charges.
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Folks, if you just call their LV office you will find they have fine print listing a fee of $150 per million so that cheap sob is only really paying $750/M less shipping as well.
Ali then flips your dinar to someone else for $1080 plus shipping and makes a cool ~ $380/M to $400/M off of sell backs.
Don't read anything into why he's back other than he's making big bucks off people.
Ranks right down there with pond scum.
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I've read this article several times from Reuters out of Baghdad because it has some very interesting comments from the CBI and Cabinet. Thought it was worth posting again for a reread and study. Like most, I think halting plans to cut the zeros off dinar currency notes is good for us.
http://www.reuters.com/article/2012/04/12/iraq-currency-idUSL3E8FC8G120120412
Iraq halts plans to cut zeros off dinar currency-cabinet
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if(typeof Reuters.info.skipSlideshow == 'undefined'&& document.getElementById("displayFrame")) {Reuters.utils.addLoadEvent(function() { Reuters.utils.loadScript('sJSON','/assets/multimediaJSON?articleId=USL3E8FC8G120120412&setImage=300&view=100&startNumber=1') });} Thu Apr 12, 2012 3:10pm EDT
* Cabinet says stops plans to redenominate dinar "until further notice"
* Iraq has over 30 trillion Iraqi dinars in circulation
* Plan to trim zeros not seen as a priority
By Aseel Kami
BAGHDAD, April 12 (Reuters) - Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable, the cabinet secretary said on Thursday.
The central bank said last August it planned to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised and dominated by oil, and where deals are often carried out in cash.
The proposal to restructure the dinar to bring more liquidity into the market has been awaiting parliamentary approval since last year.
On Thursday, a statement on the website of the cabinet secretary said the cabinet had decided to halt all procedures relating to the redenomination of the dinar "until further notice".
"The economic committee discussed this issue and so did cabinet ... There is a possibility that it could cause some problems in the economic situation. Besides that, this operation is so big that cabinet sees circumstances are not right to control this," cabinet secretary Ali al-Alaq told Reuters.
Iraq is slowly getting back on its feet after years of war and sanctions. Oil accounts for 95 percent of government revenues and the country's banking system is still highly underdeveloped.
HUGE PROCESS
The central bank has kept the dinar fixed at 1,170 dinars to the dollar in its daily auction but it recently moved to revalue the dinar slightly to 1,166 dinars after demand for the U.S. currency soared.
The central bank said it also had to tighten regulations over who can participate in the auctions as Iraqi traders sought to snap up dollars for resale in neighbouring Syria and Iran, both under Western economic sanctions.
Sales of dollars in currency auctions held by Iraq's central bank rose as high as $400 million on some days in December from a previous average of $150 million, according to central bank data.
"We have more than 30 trillion dinars in circulation. To withdraw this amount from the market and then to examine them and to dispose of them is a huge process. Even the technical and the monetary capabilities to control a process like this, we consider as insufficient and it is not seen as a priority currently," Alaq said.
The central bank says Iraq's large foreign reserves, which have risen to a record $60 billion on the back of high oil prices, will shield it from any damage to its financial system on the national level.
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Seemed very generalized, non-specific and non commital. Having heard her reputation and research I was hoping for more than she provided. Oh well. Would like to hear her real beliefs on the dinar rather than her coaching to do your own research. Thx. Hope to hear more from Highlander.
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I am trying to understand how a country can suddenly increase it's own wealth. Sounds like someone being able to suddenly increase his own personal bank account.
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Whether it's an RD or an RV why would they be talking about it at all. Both need total surprise.
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Ali is just trying to "pump up" some dinar sales. He probably needs the money to buy a bigger yacht.
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"Baghdad, March 24 / March (Rn) - The body of the Iraq Stock Exchange today, Saturday that the deletion of three zeros from the local currency will not affect the level of equity investment of external and internal. "
It seems pretty clear the zeros are being deleted from the notes. Also, the fact that it will not effect stock prices, etc doesn't sound like good news to those of us hoping for an rv. I guess all we can do is wait and see.
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How many think they are going to pre-announce an rv?
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I think Ali alone claimed 400,000 customers. Owners have to be in the millions. Then look at the other coutries.
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The constant blah, blah non happening, new pushed out date predictions never stop.
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It is not something we should wish for. All of America will suffer if we lose the World Reserve Currency status.
China sucks. Let's hope they implode before they gain a foot hold. China is a bubble waiting to explode especially with all their fraud and corruption.
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Kaperoni - We Have Confirmation That Smaller Denoms Do Exist !
in Dinar Rumors
Posted
link please