|
J.C.
-
Posts
160 -
Joined
-
Last visited
Content Type
Gallery
Forums
Calendar
Store
Musicbox
Posts posted by J.C.
-
-
In addition, it won't be cash to cash exchanges, but done electronically, so no need to worry. Also. Only about 10% of the total dinar is in the small investor's hands. Mostly resting with countries and hedge fund groups.
-
It still doesn't change the fact a country only LOPS because of hyper inflation, and that is NOT the case in Iraq. NO lop, period. ANYONE who says otherwise is simply trying to create drama where none exists.
-
1
-
1
-
-
Great Post.... Thank You J.C.
You bet. Just want to do my part.
-
This has made me feel soo much better thank you!
Glad I could help. I expect those with an ulterior motive to come here and bash away, but you really need to ask yourself what they are bashing? If I'm taking away business from a rip off artist, TOO DAMN BAD!!
Great post! Link?
I would guess, based on his saying he was checking out prices at the various sites, that it probably came from a Forex site. I just copied and pasted what was there, and brought it here to share.
-
1
-
1
-
-
Good luck finding proof.....its all speculation and hearsay.......and people are running with it like its been written in the bible........we dont know if anyone holds dinar besides the US.....Ive heard from a couple credible people about the Goldman Sachs thing but I cant prove it.....and I have seen an article about some other company holding over a hundred million dinar as fact but NOTHING about many countries stashing away dinar in their reserves....hell I think even what the US holds is really Iraqs but we are paying them interest off it.....maybe something tied in with the DFI funds as well......
Do you REALLY think over 20 countries have forgiven Iraq several TRILLION in debt, out of the goodness of their heart? France, Germany, US, Canada, Australia are just a few countries that have forgiven Iraq a boatload of debt, in return for Dinar. This is the very way Bush promised us the war would end up not costing us a dime. It's also what is going to allow the US to buy cheap oil for life from Iraq.
-
2
-
1
-
-
Brought over from another site, and definitive in the facts.
I was just comparing Dinar prices at the various sites and came across this under: Important Notices. I thought it was a good read, logical,and CALMING! Nothing new-- just some reassurance on an otherwise sleepy Sunday morn.
---------------------------------------------------------
Recently, many rumors have been circulating about possible changes to the Iraqi Dinar One such rumor is that the Iraqi government is considering changing their national currency from the new Iraqi Dinar, which was introduced in October 2003 following the fall of Saddam Hussein from power, to an entirely different currency with new notes and denominations. Another suggests the large 25,000 dinar note will be made obsolete and unable to be exchanged.
It is the opinion of the xxxx experts that these rumors are not something with which a potential Iraqi Dinar investor should be concerned. The majority of the “currency change” rumors have been initiated by individuals who have ulterior motives to profit from such currency changing fears.
Most of the rumors about the uncertain future of the Iraqi Dinar are started by businesses or individuals looking to profit from investment into their own “secure electronic Iraqi bank accounts.” In order to drive potential investors in the Iraqi Dinar to these accounts, articles based on unfounded information are marketed by these business owners. The main goal of this misinformation is to increase feelings of fear and uncertainty in order to convince investors that holding physical money is an unsafe and unwise strategy. What is the only proper way to invest in Dinar according to these companies? You guessed it- placing your money in their “secure electronic accounts.” We’ll talk about these so-called secure electronic Iraqi bank accounts later in this article, but first let’s address the speculations that Iraq will totally overhaul its present currency.
The bottom line is that the prospect of the Iraqi Government changing the nation’s currency in the near future doesn’t make sense on several levels. Governments generally change their currencies because they are 1) offensive, or 2) because the currency is being counterfeited successfully. In the case of the Iraqi dinar—it is neither. In 2003, the Iraqi Dinar was implemented with the approval of the Iraqi people. The new currency was changed from the offensive “Saddam” banknotes that were widely counterfeited to the new Iraqi Dinar which is one of the newest most secure currencies in the world. xxx reports that out of the tens of millions of banknotes they have inspected, cleared, exchanged, they have run across 0 (zero) counterfeit banknote.
Furthermore, the Iraqi Government is working hard towards having their currency and economy fully integrated with the world economic market. In order to do this, there are significant accounting measures, procedures, and audits which must be accomplished internally and externally. To change the currency prior to being established on the world market would be counterproductive to the goal of integrating the Iraqi economy into the global economy. Some Iraqi Dinar investors don’t realize that a country won’t/can’t declare a currency worthless and just start transacting with a new currency; there has to be a changeover period. Countries don’t just erase wealth one day and say “everyone is starting from scratch.” Even after the fall of Saddam, the old Saddam currency was exchanged for the new Iraqi Dinar and wealth was maintained. Changing the currency would be very expensive and time consuming. Unlike the change from the old Saddam banknotes to the current Iraqi banknotes which took several months, any change in currency now would take many more months to complete the process. It just doesn’t make sense. If Iraq does decide to change their currency, it is more likely to occur after or in conjunction with a significant revaluation of the currency. A significant revaluation would necessitate the introduction of smaller banknotes for the sake of usability.
ANYONE trying to stir up the LOP monster is just kicking the anthill to get a rise out of you. There will be no lop!
-
9
-
4
-
-
It will NEVER happen! The real meaning behind it is the removal of all bills, 1,000 Dinar and above from circulation after the RV.
-
Final draft doesn't mean signed contract. However, "IF" the 2011 budget does indeed start December 1st, and "IF" indeed the RV is in the budget, and "IF" indeed the smart cards for December have been reduced to 250 Dinar from 1,250, then we "should" see the RV by the end of this month.
-
2
-
1
-
-
.85 has been thrown around here like candy, as has the rates up to $9.00. However, as an economics person, that rate doesn't work on several fronts.
First, Iraq was forgiven most of their debt to countries. Why would they be allowed this, if they were going to RV at such a low rate?
Second, that would create a huge disparity in trade values. Look at the current trade war between the US and China.
I'd be happy with .86, but think the actual rate will be in the low $3 range.
-
5
-
-
I can't see how the hundreds of thousands of investors can cash in during that small window, and I'm sure the IMF would have some say in that as well.
-
1
-
-
Can't see it being that low, as the speculators would go nuts buying it up. No less than $1.50.
-
1
-
-
All Good Things Come To Those Who Wait!!! This WILL happen when it's time!! I consider myself VERY BLESSED to be a part of this and there is NO room for negativity in my thoughts. This will happen when it's meant to happen, not when I want it to happen. Have FAITH and be POSITIVE!!! We have much to look forward to. HAPPY THANKSGIVING to all of you!!!
Agreed. The anger and negativity is fueled by their greed and desperation.
-
1
-
-
I agree------BUT-------Nothing will happen til end of year since Maliki has til Dec 25 to form. Why would he mention an RV date or rate in his speech? Duh !!!! then everyone would run out and buy it and they are royally scr**ed. I am frustrated too like you but hang in there.
Have a great Thanksgiving.
I'd be surprised if he took the entire 30 days, but this Iraq, so who knows?
-
It will happen, when it happens. For someone who's been on this site as long as you have, you seem very stressed over something we have no control of.
-
1
-
-
J.C. How will you avoid double taxing? I want to give $100,000 to each of my children for school loans, down payment on a house, or whatever else they want to do with the money, however, if I pay an initial tax on the money, how can I spare them paying taxes? I will be getting financial help when the dinar RV's, but I am curious. Hope everyone has a great Thanksgiving...we all have so much to be thankful for.
You avoid double taxing, because you are gifting post tax money. You have already paid your 35% Federal tax, plus any state and city tax you may have. By IRS law, you are allowed to:
1. Gift $13,000 per year to a child. Your spouse can do the same. This amount incurs no paperwork, and does not count against your lifetime amount of $1,000,000.
2. Gifts over $13,000, you simply fill out a form that alerts the IRS to the gift. This amount is deducted from your lifetime allotment, but is tax free to the recipient.
3. Once you reach the million dollar limit, and keeping in mind your spouse also has the same limit, your estate is then taxed a rate based upon the amount you go over.
The strongest bit of advise I can give you is set up trust accounts and seek good financial tax and planning help. God bless, and Happy Thanksgiving to all!
-
1
-
-
Sounds like progres to me. Thanks knight! GO RV!!
-
I guess all the doubters missed the part where the IMF said no to additional time extension to Iraq. I guess they alswo missed the fact Ireland is out of money, and the IMF needs the Iraq funds to bail out Ireland. Until Iraq passes the budget and sets the RV in motion, Iraq is also broke. Nothing else can happen until Iraq comes full circle.
-
If you do this, be prepared for BIG "gift tax".
There is NO GIFT tax until you pass the MILLION DOLLAR per person, lifetime threshold. It's written right into the IRS tax code.
When this happens, I'm giving $75,00 to my sister to pay off home loan, $50 to my dad and $250,000 to my church, ALL WITH NO GIFT TAX.
-
This was just posted and it says that they have until the end of January. Don't know if this is credible or not but just passing it on...
NOT credible. The deadline is November 30th for the upcoming budget for 2011. Iraqi Supreme court nullifies the election if the government isn't seated by December 26th. Even THEY (The Iraqi government officials) can't be that stupid, as to lose all their perks, salaries and face prison time for contempt of court, can they?
HEY...all these deadlines are not for an RV they are for everything BUT an RV. Don't get confused (not likely?) by seeing these deadlines for being for an RV...otherwise you'll just be disappointed over and over again. The IQD will RV someday relatively soon....your mixing apples to oranges with all these deadlines. If your crushed when a deadline comes and goes without an RV it's your own fault for not understanding how these things work.
BUT, there IS a deadline from the IMF to get their financial affairs in order, or they lose IMF funding, the Paris accord is pulled and civil war breaks out when everyone starves. The US then moves back in, adds Iraq as the 51st state, and we all get the benefit of the oil, but no Dinars. (Just kidding about the 51st state)
-
1
-
-
A GREAT find birddog, and further proof that this is going to happen, and MUCH sooner than later!
GO RV November 2010!!
-
Old news, but thank you for the link and the story.
-
I couldn't agree more. If they don't want a massive revolt on their hands, they had better RV right away. I don't see the Iraqi people sitting on their hands much longer.
-
Your statements would have relevance if the leaders of Iraq had any sense of modern leadership skills. But the truth is, they are stuck in the dark ages with their mentality. They don't seem to care about all you have stated. They have let other dates slip by, and other deadlines that cost them dearly slip by. What makes you think they care now?
Because, under the Iraqi constitution, if they miss this deadline, they ALL get the boot, and new elections will be ordered. If that happens, watch for mass rioting from the citizens as they starve to death.
-
I couldn't agree more. Sick to death of over crowded hospitals, class rooms and prisons. Sick and tired of paying for their illegal activities. Tired of the graffiti, the violence and the laziness. GO BACK HOME and make your own country a more desirable place to live.
-
2
-
All the LOP talk can end right now, forever!
in LOPster tank
Posted
Walk, they are so far from hyper-inflation, it's not even funny. Their inflation rate is 3%. Hyper inflation is defined as a rate in excess on 8% for a sustained period no less than 12 months. It's Econ 101.