|
odogtriever
-
Posts
84 -
Joined
-
Last visited
Content Type
Gallery
Forums
Calendar
Store
Musicbox
Posts posted by odogtriever
-
-
Oh and by the way, currency newshounds posts are about a credible as you're opinions. As stated above by dinarbot, this belongs in rumors!
-
1
-
-
This totally makes no sence to me. Not sure you are reading this right, and I don't really care for opinions in the title of a news post.
-
3
-
-
From a previous post. More information is presented in the discussion of the post......
***********************
They are buying and selling USD, which means they are selling and buying Dinar.
If they sell USD, they buy Dinar
If they buy USD, they sell Dinar.
They are the Central Bank, and Iraq is a dual currency country.
There are usually between 20 to 26 banks participating.
If my bank took on a lot of dinar, and my dollar reserves were low, I would wait until the CBI was selling dollars, and would sell my dinar back for dollars untill I had the balance of the two that my bank usually required. The opposite if I took in too many dollars, I would wait until they were selling dinar.
This is the way the CBI acts as a Central Bank, and serves the other banks to keep them in balance and able to operate in a dual currency economy.
It is a very popular forum fact that these auctions are used to take dinar out of circulation. Think about it...
Six days a week, 52 weeks a year, five years, 100 to 200 million per auction; when would Iraq have ceased to have any dinar in circulation?
100 million dollars buys approx 100 billion dinar. Ten days per Trillion Dinar (1000 bililion is 10 x 100 billion, is a Trillion)
Let's be uber conservative and say that it took 2 weeks to take in a trillion Dinar..(10 times 100 billion is a trillion).
That would be 2 trillion dinar off the street in a month. 24 trillion off the street in a year; and these are grossly small auctions of only a hundred million dollars per day, five days a week.
In five years, they would have taken 120 trillion of the current 30 trillion Dinar that the CBI claims responsibility for.
The problem here is that they never had 120 trillion dinar, but if the auctions were used to contract the money supply, that is a very conservative portrayal of how much the cash would have shrunk.
So, if they are buying dollars, they are selling dinar. If they are selling dollars, they are buying dinar.
Wax On, Wax Off...
**********************************
Soiled bills are replaced with new ones; no loss, no gain.
There never was 154 trillion in circulation, but that is a very conservative estimate of how much would have been removed from circulation in6 years.
The CBI claims 30 Trillion currently in circulation
Thanks for the reply. That makes sense to me. Balancing the USD to the IRD in country. I am not sure we can put much into the auctions as an indicator to an RV or RD either way. That being said, I am no economist.
-
1
-
-
These auctions have been ongoing for six years.
If they only sold 100 million 20 days a month, they would have removed 154 trillion dinar from the circulation.
The have never had more than 30 trillion in circulation.
Please explain exactly how they are drawing in dinar that isn't there, and what they have done for the last 5 years, since at least 24 trillion would have dwindled in the very first year and they would have already dwindled all the dinar in circulation at that time, in the first 6 months of the first year.
I am serious; please explain. All you have to do is show me the Math. I am really interested in understanding this concept.
Also, since their M2 is increasing, it presents a real problem with the concept of them drawing in currency.
It is either one or the other.
They either have bazillions of dinar that they are lying about in the small numbers and are trying to draw it down, or are still increasing the currency and using the auctions to control inflation and keep the banks balanced in a dual- currency economy as the CBI has claimed.
Someone is telling a story. It can't be both ways.
Tell us then what happens in the opposite scenario? Your saying there has been 154 trillion dinar added to the circulation. Not sure that the removal of old worn bills would bring us to the 30+ trillion you claim is in circulation.
-
Go up and click on settings, then click profile, then manage ignored users.
Keep do you believe those news articles are fact, and that Iraq would not lie and deceive people to believe they are going to lop, when in reality they are going to RV, but do not want all these speculators? Do you believe they are being honest when they state they are going to RD and not RV? If you believe those Muslims are being truthful, then you and the rest of these people believing that are very gullible.
I don't even trust our news here in the states so how can I trust Iraqs news.
-
As a newbie to this dinar valuation thing please help me understand this. Are these non-iraqi banks selling to the CBI or is it the CBI selling to non-iraqi banks?
You will get a difference of opinion on this site. Good luck with that.
-
I just heard on Fox Business, the RV talks at the G20 Economic Summit broke down. China will not give in to RV demands. Other nations are sure to follow.
Expect trade wars, inflation, higher tariffs & calls for protectionism. This could kill any chances of any RVs or any world economic recovery. Some economists fear a world great depression is coming.
"Other nations are sure to follow" is only one mans opinion. I am getting a lot of doom and gloom from you, so not sure your opinion means anything to me or others on DV. Sorry if that sounded harsh, I mean no disrespect.
-
1
-
-
It actually shows none of these things
Please explain. It certainly shows his first point, the money supply (M2) is increasing (despite "auctions" and bond sales or whatever). Whether or not physical currency in circulation is going down is not so clear, but if it is, then the other factors causing M2 to go up, are doing so all the more since the overall result is a 14.5% more M2 than this time last year.
You have valid questions.
As for the goofs that gave you a negative without cause, is a shame!
Yes all good questions. Why is there no reply? Does anyone really know what they are talking about?
-
1
-
-
So help me out, you are saying that they are buying dinar out of circulation and then putting the dinar right back into circulation. That makes no sence at all.
That would only work of they were printing more dinar right?
Yep, didn't think anyone could answer this one.
-
Yes, but those dinar are put into the economy, thats how the m2 is now over 30 trillion. they are using the auction for expanding not contracting the money supply. big misconception
So help me out, you are saying that they are buying dinar out of circulation and then putting the dinar right back into circulation. That makes no sence at all.
That would only work of they were printing more dinar right?
-
Its huge and brand new
Seriously sweet looking building! That was not built on dinars.
-
Hey Bubba. You posted this already and all of us with a reasonable IQ know that Minnesota golf courses are the new hotbeds for IQD discussion and investment advice. It has something to do with all of the mosquitoes.
Already? This is not a repost.
-
Well I think this post is very interesting, even more so than Aqua Dudes. Where are all the lopsters in this thread? So much misinformation. You just cannot know for sure what is going to happen. Sorry everyone, I just had to post and bring this one back to the top.
-
Now, now, now I never said that I agreed with the RD "mantra" ( I mean that in a most respectful way), I happen to agree with you. However I do not think the RV will be the magnificent # I may have visualized in the beginning of this investment. I feel there are missing pieces not spoken via news pieces and blurbs from Iraq. I also believe there is board room banking where deals are wheeled that none of us can pretend to know behind the scenes.
I also cannot discount the RD platform as nonsense, because it could happen. Those that have put the argument out there are not unintelligent folks, they have a possible reality that could happen. Which comes to my comment to Legolas. He made a comment after his hypothesis(that is all it is on both sides right now), quote:
Unfortunately, it appears to be the reality. unquote. I feel the reality of the dinar is yet to unfold, an no one on this board unless you are in the inside, which we are not
knows what that reality is yet. So it is not a reality until it is a reality. I stand by that.
I will also add, you can't believe everything you read, and that includes both spectrums, RV and RD.
Cheers
Zigmeister
Well put Zigmeister
As I have stated earlier, no one knows.Lets all hope and pray for an RV!
God bless
Odogtriever
-
So you think all of these many articles are simply "lies" - generated for the purpose of convincing investors to dump their Dinars (which would likely be sold to "new" investors) or to discourage new investors from buying Dinars (after 8 years of permitting them to be sold unabated)? Sure I hope I'm wrong, but the odds would appear at this point to be about 1,000:1......as in old Dinars to new.
Well, alot of what is printed in our press is anything but the truth. So ya, I think there is definatly some misinformation being put out. I am by no way saying all news is lies, just some of it is more than likely what they want us to hear.
-
1
-
-
We've now seen in excess of 100 articles describing the RD process, with more coming out every day now. It's hard to imagine how anyone who isn't either blind, brainwashed, or semi-literate can't understand that they are declaring this to be a "value-neutral" event. Removing the three zeros instantly brings the value of the Dinar to .86 cents (close to the Dollar). It would be unbelievably nice if they would increase the value BEFORE removing the three zeros, but this simply makes no financial or economic sense. What possible reason would they have to do this? Why spend tens of Trillions of Dollars which don't have to be expended? What would they gain? Sure it would be great for we the holders of millions of IQD, but what would it do for the average Iraqi citizen, or for the GOI? Does it makes sense to ANYONE that they would be talking about this so much if it were actually going to happen the way we are hoping? Wouldn't everyone on the planet be buying up billions of Dinars if this were the case? If this were going to be a straight RV, it would have happened instantaneously, in total secrecy, with absolutely no warning. Instead, exactly the opposite has been occurring, and for a long period of time now.
The very best article I've seen to date says that they would like to see the value increase to 1:1 - an increase of 16% over the .86 figure - which seems extremely logical. That would make the value of One Dinar equal to One U.S. Dollar. Most of the articles indicate however that there will be "no increase in value or purchasing power" which implies a simple RD. It's painfully simple, and yet very few want to see it for what it is. Is it what we hoped for? No. Unfortunately, it appears to be the reality. At any rate, it appears that the process, whatever it will be, is likely to occur in the near future, possibly within the next few months, depending on how long it takes to print and begin distribution of the new currency. I have yet to see an article implying that this has been completed, despite the never-ending lies of the pumpers.
Then sell your dinar and leave already. Or is there some part of you that knows you may be wrong.
What I get out of your posts is that you don't really believe that some things are not as they seem. You take everything for its face value. Really! Just use our government for example. Anyone who takes what our politicians say at its face value is nieve. Unless you just woke up from a 30 year comma and turned on the news you know that what is said by our politicians is not taken at its face value. Are we really gonna think Iraqis politicians have real integrity over our own?
Lets just all agree we hope for an RV, but no one really knows. I am tired of the know it alls who think they know! Well you don't. Neither do I, Aqua Dude, Keep or even Adam. Lets just all hope for the best. Peace everyone, not trying to ruff any feathers.
-
2
-
-
AGAIN, LIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIES this is not how redenominations work!!!!!!!
per investopedia
What Does Redenomination Mean?
1. The process whereby a country's currency is recalibrated due to significant inflation and currency devaluation. Certain currencies have been redenominated a number of times over the last century for various reasons.
Investopedia explains Redenomination
1. For example, the Bulgarian lev was redenominated due to inflation arising at the end of the Second World War. After the redenomination, one "new" lev was equal to 100 "old" levs. The lev was redenominated three times in the twentieth century.
http://www.investopedia.com/terms/r/redenomination.asp#axzz1X0EXmbq6
So either you are a blatant LIAR, a paid basher, or confused.
Iraqi is not RD'n, they are not giving out 1 new dinar per 1000 old dinar!!!!!!!!
if you don't know what you are talking about DON'T TYPE!!!!
I want to agree with you also, but it says the 100 lev became one lev. I would not be happy if I went into the bank and I exchanged my 100 dollar bill for a one dollar bill. Unless that one dollar bill will now buy me a lift ticket and lunch.
Both sides are so sure they are reading this right, that I am more confused than ever. I want to know Adam why you think an RD is unlikely.
-
I like the part that says "additional revenues worth $ 200 billion annually over the next six years" .
Were getting closer folks! GO RV!!!!!!!
-
The key here is what is the real number of IRD in circulation. Sounds good.
-
I like the sound of the IRD being the strongest in the land. RD does not make the currency strong in my opinion, just changes the numbers on the paper. IRD is not currently strong, this is good news!
-
Not a bad post but youve been here since june. Slow down a little and relax. As you and I both know from time spent in this investment is that NO ONE KNOWS ANYTHING but rumor. The rumors are just that and hold no true weight. We all wait with baited minds for this to break free like we hope. Yet, those who hold the real cards wont ever reveal a thing for big consequences. They are bound by laws. These laws which prevent a leak of real information are strict. In Iraq it might even mean death.
So as much as you kind of say a lot with out saying much... I fully get it. You are excited. I have been there many many times and now I sit back and come here to kind of see if there is any NEWS out of IRAQ. Or I go to their news sites etc. I hope we see something but wqill be less surprised if we dont. The time line is TOTALLY an unknown.
Just dont want some newbie to get excited for nothing.
RELAX READ AND LASTLY WAIT.
Peace...
Dude, hitman just copied and pasted from another site. Please people, understand where the information is coming from before posting. That being said I agree those in the know are bound by law (insider trading) not to leak anything.
-
Really. I wouldn't get excited either. I was just reiterating what he had said.
I am an ex-pat of Park City, still have family there. Home of the Heathen!
Yep, lots of them there heathen types round here! LOL
All kidding aside, PC is great if you can afford it. RV sure would help with that.
-
Shabibi actually stated he wished he had a three day bank holiday to do the conversion.
Really? I missed that. Very interesting, but I am not excited yet.
-
WOW... Keep, t's obvious that you have not been following the Iraqi news these past few months!!
Shabibi (Gov. of CBI) in many past articles has revealed that "removing the 000's" is referring to the process of taking the 10k, 25k out of the public's hand. Shabibi has also made it clear that this will be a "slow process" and will take a couple years to accomplish. During this time, Shabibi states the "two currencies" (new lower denom's and existing large notes) will coexist. Shabibi has also stated that during this time "the dinar will once again have VALUE and will be powerful".
Folks, this IS a RV NOT a LOP as Keepmwlknfny keeps pushing out there as fact. I have been only been following REAL Iraqi news these past few months and NOT rumors or opinions. For those of you who know me, I keep it REAL and follow only REAL facts coming out of Iraq.
I digress...
GR
Can you link some of these news articles? I seem to have mised them. Just trying to figure out how the new currency can exist with the old unless they hold their face value.
-
2
-
Awsome..CBI has Substancial Financial Reserves
in Iraq & Dinar Related News
Posted
So what is the wait already! RV this thing!!!! I've got a turkey to buy.