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peejay67

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Everything posted by peejay67

  1. Hi, A question for anyone with military links - With the current withdrawal of troops, what is the situation with taking money out of Iraq? Presumably a large number of these troops have all built up a large supply of dinar? Are they allowed to leave Iraq with it? PJ
  2. This is pure speculation though..why isnt this in the rumour section??
  3. Im confused...youve just contradicted yourself...if you dont need a tradeable currency that doesnt help us as investors at all??? PJ
  4. Found this with regards to the WTO discussions..dont know if its been posted already? http://www.zawya.com/story.cfm/sidZAWYA20110403064035/Baghdad%20seminar%20to%20discuss%20possibility%20of%20Iraq%27s%20membership%20in%20WTO PJ
  5. This is a guy who has bought dinars on the strength of these so called rumours, and is now pissed off that it hasnt happened, so hes throwing his toys out of the pram. Patience is a virtue fella...if youre pissed off sell your dinars!
  6. Ok. This is without links, but just had an email from the lady that put me on to this. Im in the UK she is in the states. Her info is as follows: 1) It appears that Thomson Reuters locked the revalue rate into their system on Friday (4/1/11) at 10pm US Pacific time. 2) It appears that the revalue is scheduled to be released to the rest of the system on Sunday (4/3/11) at 2pm US Pacific time (when the forex opens). 3) It appears that it will be “seen” in the US on Monday (4/4/11) at 6am US Pacific. (I’m not sure what “seen” means. Perhaps, it will be on banking screens by then, so an exchange could occur, if the bank is ready to do it.) 4) World Bank contacts appear to be confirming that the revalue is, in fact, in the pipeline [from more than one source]. 5) Finally, go to this site: http://www.wcrane.com/iraq/index.html When you arrive at this web page, you will notice a section labeled Current Trade Pairs and one labeled Pending Trade Pairs. If you look further, you will notice that the Iraq dinar (IQD) is paired with several currencies in the PENDING category. Now, notice that on 4/1/11 it was observed that the US dollar/Iraq dinar (USD/IQD) pairing moved from Pending to CURRENT Trade Pairs. It’s an obscure currency site, but the change has occurred there [and, note that WCrane is apparently a contractor in the middle east, so perhaps they know something others don’t know?] Please dont shoot the messenger! PJ
  7. Absolute rubbish..thats got nothing to do with why there is unrest in Libya. So did Moubarak have dinars?? Does Assad have dinars?? Stop looking for that smoking gun...patience is a virtue!
  8. Ive just had a call from someone in the US treasury and they said ..."RV..whats RV ?...and they said Iraq...wheres Iraq? ......and then they said Arab summit...whats that soime kinda mountain?? I rest my case !!
  9. Sorry...does "GET" stand for GROSSLY EXAGGERATED TRASH ????
  10. Apologies if this appears callous, but if the current unrest continues, and provided things don't escalate in Iraq, could it not be to our advantage? With Libya threatening to suspend all oil exports, and problems getting oil from Saudi Arabia, could there be the possiblity of the RV being speedily brought forward so the export of oil from Iraq could be extended to more countries?
  11. In this article it states that $8 billion is equivalent to 9 trillion dinars...that equates to 1,200??? Can someone do the maths and advise where they would get this rate from?? http://www.iraq-businessnews.com/tag/budget/ PJ
  12. ........er yes he did.... "PS. I called the same branch I called 2nd time I called BOA (when the lady by the name of cassandra told me about possibly dealing with IQD in Feb) and the man I spoke to (and I have this all recorded BTW) tells me that there is no and never has been a CAssandra working there and that I have been mislead. He also said that it is illegal for any bank in the US to trade the IQD and that there is absolutely no plan of trading it anytime soon. Read more:
  13. Sorry...I'm confused! I thought the budget had been read three times, passed and published in the gazette???
  14. Yeah, when you said "playing around with forexpro" you meant photoshopping?!
  15. If it was fact I wouldn't have posted it in the rumour section, as I stated in my post Then why are you here?????
  16. Ladies and gents, Dont bash me as Im not one for posting any rumors, but since this is without any links or corroboration at this stage I will post it here. I am based in the UK. The person who advised me to invest in Dinars has told me that he expects the RV to happen on Monday morning 0800 US EST time. I believe that is approx 1500 UK time. Ive never been advised of any RV date before let alone time, but he has been advised that FOREX are ready to go live and everything is place. I would be interested if anyone in the US has been told similar Best regards PJ
  17. No it didnt because the UN extended the development fund by six months which included the majority of those contracts
  18. I'm not desperate, but if you've ever had any business dealings with Arabic countries you would know they look after each other. There is every possibility it could rv in another country first if Iraq benefitted
  19. In response to the original poster.........er..no!
  20. Joined less than a month ago? He joined two days ago and he's telling people what to do?????
  21. Bush never said that..he quoted in his book that Paul Wolfowitz advised the war would pay for itself
  22. If you are invested in the Iraqi Dinar (IQD) then you are a Currency Speculator. What is a Currency Speculator? A currency Speculator is one who is gambling on a rate of a certain currency. Nearly all global currency values rise and lower in a continual ebb and flow dictated by the global economy. Generally speaking the values only rise and lower in the single digit percentages unless in rear cases a catastrophic event occurs such as war. A currency speculator looks at different economies and gambles on potential outcome that will cause an upward trend in a given currency. Once they make their decision based on their studies, they simply exchange their currency for the currency they are speculating, then watch the global foreign currency exchange market (like Forex) to know when to sell. This practice is very much the same as trading stocks and does carry risks. As with stock, one can minimize their rise by simply doing their homework. For instance, there are some currencies that are against the law to speculate, if you are not aware of this and exchange into that currency, you will not be able to get rid of that currency. There are also counterfeiters in all currencies and if you do not know what to look for in a given currency, you may be buying fancy colored paper instead of an actual currency with a value. Another key point that you may or may not be aware of is that some currencies have national or international restrictions placed on them, not allowing the currency to be speculated. However a key point I want to make here about our investment. When the PLAN was being formed back in 2003 or before, the IQD was singled out and given a special consideration. A mandate was granted from the IMF (International Monetary Fund) and the US to allow the IQD to be speculated, thus giving us in the know an opportunity of a life time. The PLAN we speak about was developed many years ago based on the world economy. You see, one would have to do a lot of studying of the global history to see but there is and has been pattern and a need to make global economic adjustments every decade or so based on where the economy is at a given time. When these occur, most of the global population is unaware of the adjustments and if you were paying attention, all you would notice is your governments local economy seems to start doing better. The last time this occurred was after Kuwait was liberated. There was a much smaller window but the fact remains that there were folks the speculated the Kuwait dinar and made millions. In this instance, the need for the global financial adjustment was slight. As you know by listening and reading in the news, this financial crisis is wide spread and touches every world economy in a major way. The architects of the plan realized the depth and breadth of this serious economic crisis. So the design in this case is huge because it has to be, to jump start economies around the globe. Iraq became the natural target for the needed economic adjustment for many reasons. First and foremost was to oust Saddaam and try him for crimes against humanity. The second was when he took control of Iraq; he pulled all of Iraq’s currency and printed his own currency with his face on all of the notes. At this time the standard IQD was pulled off the international market and shelved. The IMF gave it a program rate of 1180 IQD to $1.00 USD (even as far back as this was, the insanely low rate could have been part of the PLAN). This was a major decline in the value which was $3.22 IQD to $1.00 USD. What took place from that period until now, is as they say, the rest is history. So now we are at the present and there is a ton of people invested in the IQD (actually less than 8% of the total global population) wanting to know when and if Iraq is going to RI/RV their currency. History and why we know Iraq will RI/RV? First I want to point out the statement RI/RV. RI represents a Reinstatement of the IQD, which means Iraq would reinstate the Dinar back to per-Saddam value of $3.22 IQD to $1.00 USD. An RV represents a Revalue of the Dinar meaning that they will give their currency a higher value than it once had before the IMF gave them a program rate in the beginning of the Saddaam take over. There are as many opinions on the topic of RI or RV as there are forums. Along with that only 8% of the global population is invested in IQD. By design, the entire global population cannot know about this and take part because Iraq could not cover that many people being involved. Nor do they have enough IQD for everyone to own some. Just as any country, Iraq knows exactly how much currency they have printed. So to curve speculators Iraq and other governments around the globe have put out false information and propaganda to steer the attention away from what is happening. However, for this to work for the global economy, Iraq and the IMF needed a certain amount of speculators, you and me to accomplish two things. First Iraq needed us to hold the rate of the IQD stable once they got rid of the Saddaam currency and put their original IQD back out there. We made it stable buy purchasing it through currency exchanges. The daily auction Iraq has been having is to establish a rate and then show the IMF they can hold it stable. The IMF needs a certain amount of speculators; you and me, to boost the economies around the globe, by spending our new found wealth once all is done and Iraq adjust their currency. Just image the impact it is going to have on the us economy when over 1million new millionaires start spending their new found wealth on housing, cars, and goods. That is not to mention the relief the US government will realize from the estimated 7 trillion IQD they hold in the US Foreign Currency Reserves, as well as all of the taxes they will be collection from you and me and this is going to happen in every country on the globe. You start to understand the magnitude and the full breath of the PLAN… Okay, what is in it for Iraq: Well first and foremost, we removed a dictator that ran the country without regard to humanity amongst the Iraqi people. He kept them in poverty while he ran one of the most corrupt regimes on the planet. Murder, corruption, fear, and hunger were a way of life for many years. Lead by the US, the UN and many counters from around the globe liberated Iraq from this dictator and brought him to Iraqi justice, you know the rest. The collaboration of forces set the stage for Iraq to become the great nation it once was. It is Iraq’s desire and continual effort to become an upstanding member of the International community once again. They have made great strides as they have worked to get rid of the many atrocities and problems the former regime left in its’ wake. Iraq has worked methodically to eliminate the many road blocks that stand between them and regaining their once proud heritage as a member of the International community and in good standing. 1. There were many resolutions that needed attention 2. There were and still are some sanctions placed on them 3. They were in Chapter 7 protection 4. They had to rework their Constitution 5. There was considerable debt owed to the world governments 6. They had to grasp a full understanding of their financial books, after many years of corrupt book-keeping and the loss of billions of IQD. The Culmination There were agreements made with Iraq and the world, namely the UN and the IMF. The UN and IMF explained to the Iraqi leaders of the plan and their role. Iraq says how can w do this, we have nothing but the oil we have in the ground and no other commodity to allow us sell and get funds to rebuild our land to a point where we can start to produce oil to pay back all of the debt the previous regime has left us with. The UN forces back by the US troops said we have a plan and here it is… 1. See there is a thing called the Paris Club, which is a group of 19 major governments from around the globe. All of which you, Iraq, owe a great deal of money too. In the billions in fact. Well we have put together an agreement that says we, the 19 world economies will forgive your debit as long as you allow each of us to hold your IQD in our Currency Reserves and allow us to eventually return the IQD we are holding for a revalued dinar rate. Furthermore we will not release our entire dinar holdings on you all at once. It will be a controlled return over a period of 24 month. (For this piece, which Iraqi agreed to, they have to RI/RV by Dec. 31st 2010 or the forgiven Debt will be due at once). 2. The IMF will grant you short term loans so you have funds to work with. 3. We will lift Chapter 7 only after you accomplish several things a. Get your government seated and working b. 2011 Budget worked out so we see you have included the RI/RV c. Border disputes with Kuwait d. Show that you have made great strides in getting the HCL completed. 4. Iraq if you do all of these things, we the UN/IMF will allow you to, at a minimum reinstate you currency at the $3.22 rate it once was at prior to the former regime destroying its value in the international market. We will also allow you to add 20% for cost of living increases that have taken place over the years that your IQD has been out of circulation. 5. As an added incentive, based on the quality and quantity of crude you have in the ground, we will allow you to revalue your currency instead of reinstating it to a value within reason. We are allowing this because based on our investigation of your oil fields… You Iraq will be one of the richest if not the richest countries on the globe. It is your choice as to where you want to revalue your IQD but our projections estimate you could withstand a rate as high as $16.00 IQD to as low as $1.00 USD. We would highly recommend to you that a rate that high will cause many problems and have inherent risk. With all of the news and knowledge regarding your economic potential it would be way to risky to come out with a rate lower then you previous value for $3.22 IQD to $1.00 USD because anyone with enough backing could come in and buy up all of your currency, there by controlling Iraq. It is our opinion that the rate needs to be such to curve further speculation but also be something manageable in the short and long term. 6. We feel a managed float over at least a 24 month period of time, with a controllable rate for now will accomplish what is in the best interest of all. It will allow sustained growth for the Iraqi economy, it will allow Iraq to become a member of the international community once again, and it will allow the IMF to boost the world economy. Also, it will keep someone from coming in and buying up your country… Summarization: Iraq has been given a choice, 1. The IMF is saying to Iraq, we are granting you the ability to reinstate your currency at the pre-Saddaam rate of $3.22 with a 20% increase for cost adjustment for the years it was out of circulation. Or because of the potential we see with your economy, we will also allow you to revalue your currency to a rate within reason. If you do this by December 31st 2010, we will agree to allow the Paris Club to forgive your debt and we will lift you from Chapter 7 sanctions. Thus allowing you to rejoin the international community with your currency and trade. Sanctions that will be lifted: a. Allows you to have an international recognized currency i. Which allows you to trade on the Forex ii. Allows Iraqi stock to be traded on the international market iii. Allows all of the signed contracts for the oil fields, utilities reconstruction, road construction, building construction to begin b. Allows you to receive global shipments from all of the ships that have been sitting in your ports. c. Allows you to finally pay your government employees d. Allow you to load the smart cards that will pay the Iraqi citizens living expenses for the short term, also pay the retired citizens. All of which have not been reviving anything for some time. At this point, Iraq has agreed to everything and we are now in the last phases of this plan. We are waiting for Iraq to finally pull the trigger and release the RI/RV. I believe the World community and the UN/IMF are not really leaving Iraq a choice and they are tired of Iraq dragging their feet… But, if for some reason they don’t pull the trigger soon i.e this coming Friday… According to the PLAN this was to happen in 2009… Not sure of all that would come down on them but it certainly would be the end of the current GOI… They are still expecting the RV to happen before Friday and the very bottom rate, the lowest it could be is $3.22
  23. At the Bretton Woods Conference in July 1944, international leaders sought to insure a stable post-war international economic environment by creating a fixed exchange rate system. The United States played a leading role in the new arrangement, with the value of other currencies fixed in relation to the dollar and the value of the dollar fixed in terms of gold—$35 an ounce. Following the Bretton Woods agreement, the United States authorities took actions to hold down the growth of foreign central bank dollar reserves to reduce the pressure for conversion of official dollar holdings into gold. During the mid- to late-1960s, the United States experienced a period of rising inflation. Because currencies could not fluctuate to reflect the shift in relative macroeconomic conditions between the United States and other nations, the system of fixed exchange rates came under pressure. In 1973, the United States officially ended its adherence to the gold standard. Many other industrialized nations also switched from a system of fixed exchange rates to a system of floating rates. Since 1973, exchange rates for most industrialized countries have floated, or fluctuated, according to the supply of and demand for different currencies in international markets. An increase in the value of a currency is known as appreciation, and a decrease as depreciation. Some countries and some groups of countries, however, continue to use fixed exchange rates to help to achieve economic goals, such as price stability. Under a fixed exchange rate system, only a decision by a country's government or monetary authority can alter the official value of the currency. Governments do, occasionally, take such measures, often in response to unusual market pressures. Devaluation, the deliberate downward adjustment in the official exchange rate, reduces the currency's value; in contrast, a revaluation is an upward change in the currency's value. For example, suppose a government has set 10 units of its currency equal to one dollar. To devalue, it might announce that from now on 20 of its currency units will be equal to one dollar. This would make its currency half as expensive to Americans, and the U.S. dollar twice as expensive in the devaluing country. To revalue, the government might change the rate from 10 units to one dollar to five units to one dollar; this would make the currency twice as expensive to Americans, and the dollar half as costly at home. Under What Circumstances Might a Country Devalue? When a government devalues its currency, it is often because the interaction of market forces and policy decisions has made the currency's fixed exchange rate untenable. In order to sustain a fixed exchange rate, a country must have sufficient foreign exchange reserves, often dollars, and be willing to spend them, to purchase all offers of its currency at the established exchange rate. When a country is unable or unwilling to do so, then it must devalue its currency to a level that it is able and willing to support with its foreign exchange reserves. A key effect of devaluation is that it makes the domestic currency cheaper relative to other currencies. There are two implications of a devaluation. First, devaluation makes the country's exports relatively less expensive for foreigners. Second, the devaluation makes foreign products relatively more expensive for domestic consumers, thus discouraging imports. This may help to increase the country's exports and decrease imports, and may therefore help to reduce the current account deficit. There are other policy issues that might lead a country to change its fixed exchange rate. For example, rather than implementing unpopular fiscal spending policies, a government might try to use devaluation to boost aggregate demand in the economy in an effort to fight unemployment. Revaluation, which makes a currency more expensive, might be undertaken in an effort to reduce a current account surplus, where exports exceed imports, or to attempt to contain inflationary pressures. Effects of Devaluation A significant danger is that by increasing the price of imports and stimulating greater demand for domestic products, devaluation can aggravate inflation. If this happens, the government may have to raise interest rates to control inflation, but at the cost of slower economic growth. Another risk of devaluation is psychological. To the extent that devaluation is viewed as a sign of economic weakness, the creditworthiness of the nation may be jeopardized. Thus, devaluation may dampen investor confidence in the country's economy and hurt the country's ability to secure foreign investment. Another possible consequence is a round of successive devaluations. For instance, trading partners may become concerned that a devaluation might negatively affect their own export industries. Neighboring countries might devalue their own currencies to offset the effects of their trading partner's devaluation. Such "beggar thy neighbor" policies tend to exacerbate economic difficulties by creating instability in broader financial markets. Since the 1930s, various international organizations such as the International Monetary Fund (IMF) have been established to help nations coordinate their trade and foreign exchange policies and thereby avoid successive rounds of devaluation and retaliation. The 1976 revision of Article IV of the IMF charter encourages policymakers to avoid "manipulating exchange rates...to gain an unfair competitive advantage over other members." With this revision, the IMF also set forth each member nation's right to freely choose an exchange rate system. Although the IMF arent normally permitted to intervene, but it could well have forced conditions on Iraq when loans were put in place. If those conditions havent been met maybe the IMF can intervene? January 14th is Friday in Iraq...the days dont change just the time !
  24. If that was copied from another sit it should accredited to that site. The grammar is indeed appalling. With regards to it's content I don't believe a word of it.
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