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About Charlie339

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  2. From a very close friend of mine ... "Over a year ago I put two and two together and thought of the #1 precious metal that is in Iraq, GOLD. It therefore seems plausible that in an unfolding RV, if anything would go up first, it would be Gold. So I have been watching the IQD and Gold on for about a year. For a long time, and as of this past Sunday, 1,000,000 Dinar would buy .6 oz. of gold according to Coinmill. That is consistent with their long-standing currency rate of 1 USD = 1,174 IQD. However, since this past Monday, Coinmill has consistently been showing a very interesti
  3. This is just an opinion. I have no links to prove that this is what Iraq is doing, nor do I even have any confidence that this is even likely. It just makes a lot of sense to me. I think we can all agree that those in power in Iraq are focused on opportunities to benefit themselves – not us or anyone else. With that in mind, it makes sense to consider this whole currency issue from their point of view. Four of their objectives have been made quite clear … • Shabbi has repeatedly said that his goal is to keep their currency “stable” and to keep inflation under control. • The CBI has recentl
  4. Many people are now wondering “What’s the holdup on the RV?” Here’s my take on where we stand … A few years ago, the Kurds received a verbal commitment from Maliki to implement their 5-item “wish list” in his governance. In exchange, the Kurds agreed to support him. Unfortunately, he didn’t come through on his promise, and now the Kurds distrust him powerfully. Then, shortly after the March 17th elections this year, the Kurds presented a new list of 19 items they wanted implemented in writing by the new government. Allawi agreed, but Maliki said he “would negotiate.” Primarily, these are ite
  5. I laid awake last night thinking about this possibility … Do you think it just may be possible that we have known the future Dinar exchange rate for several years? As investors, we paid about $1,170 per million Dinar – which means that our “rate” was US .00017 per Dinar. Dr. Sinan Al-Shabibi, the Governor of the Central Bank of Iraq, has repeatedly said that one of his foremost goals is to “maintain the stability of the Dinar through 2015 and beyond,” and news articles have repeatedly mentioned discussions among Iraqi economists (and from Governor Al-Shabibi himself) regarding their intent
  6. Clearly stating the obvious ... In a briefing to President Obama Wednesday, General Ray Odierno, the Commander of U.S. forces in Iraq said "... the main challenges left for Iraq’s independence are political unity and financial solvency." (emphasis added). At least now we have confirmation that Iraq's financial situation is a major item from the U.S. government's perspective. Link:
  7. American banks keep US$ in their vaults. This money comes from depositors like us (savings accounts, etc.), and it comes from profits earned by the banks from their lending activities and fees. They also have access to working capital money that can be borrowed from the Federal Reserve Bank. WHEN the RV happens and we go to our banks to cash in, they will give us Dollars for Dinars. The Dollars we will receive are from money owned by the bank – not Iraq. So this part of the transaction won’t cost Iraq anything. The bank makes a profit based on the “spread” – the difference between what they pa
  8. I posted this on the Chat forum last night, but nobody seemed to know the answer. I have been seeing news blurbs on the Aswat al-Iraq website ( like this for several weeks
  9. According to the International Monetary Fund (
  10. I am not making any predictions regarding whether a redenomination will actually occur or not, nor am I attempting to persuade anyone in any direction regarding their dinar investment. I simply want to share my thoughts on an apparently confusing topic. By itself, a redenomination is nothing to fear. We redenominated our currency when we introduced the $2 bill. Nothing changed, except we put another unit of currency in the market. A dollar was still worth a dollar. However, in every sense of the word, a redenomination that is based on a
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