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Kimberlye
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Posts posted by Kimberlye
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Thank you for posting what you heard. Please let us know if you hear something else juicy.
Happy Tuesday,
Kimberlye
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Maybe you should post here when you sell it so the mods can maybe delete your phone number. Just thinking safety.
Happy Monday,
Kimberlye
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Thank you for the smile. I was laughing while reading it. My visual was so fun.
Happy Monday,
Kimberlye
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Hey Skybear,
To me, the pattern seems to be a few months of "It's almost here; nothing left to be done, any day now, it's got to happen by Sunday, it's done, nothing stopping it now" etc. And after a few months of that, then they "call the RV, It's done, rates will show in the morning." Well, once they "Call it," they have to take a few days off to figure out how to get out of the mess they created for themselves since it didn't happen, try to come up with something to explain why it didn't happen. Soooo, in answer to your question, they are back at the drawing board, thinking, thinking, thinking --- or waiting for everyone to forget that they actually "called" the RV.
May take on it anyway.
Have a nice evening,
Kimberlye
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Thanks, Dinarck. Now I understand it. I also now understand why there needs to be some education in Iraq before this takes place. Yes, it is friggin confusing. Jeeeez
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The new currency will have an exchange rate 1000 times higher than the current currency.
Read more:
Dinarck,
I thought the new currency would be equal in value to the current currency? Am I missing something here?
Thanks,
Kimberlye
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Good question. In my mind a LOP without an/a RV first would do nothing for the value of IQD. I have thought about the LOP theory many times. Think about it this way. Say the UST suddenly decides to LOP the USD. For instance a $100.00 bill would drop three zeros and becomes a $10.00 bill. Or a 25k IQD note is reduced to 25 IQD. That would be disastrous for both economies. Right?
RV first with a subsequent LOP is how I think that this investment will evolve. This is my analogy and belief regarding a LOP.
The problem with your analogy is that $100.00 bill and a $10.00 bill in USD have different "values," so, yes, that would be traumatic and disastrous. In the case of the IQD, for example, a 25000 note is worth about $21 USD, the new IQD 25 note will also be worth about $21 USD, so there is no value lost as there would be with USD lopping. I think I said that right, but I'm sure someone will correct me if I said it incorrectly.
In my opinion, putting aside the logistics of being able to do it, it just seems it would cause distrust in the banks and the currency. I guess if they RV after they redenominate, that "might" help with the trust, but I don't know. The Iraqis already don't trust the banks and if they need a year or so just to get "educated" for a redenomination, I'm thinking this is not going to make them feel like opening a bank account. Just sayin.............
Kimberlye
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No, he's not. He's just another guru that you need to take with a grain of salt.
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Kimberlye, you owe me nothing, you bring me and others very insightful post all the time. Thank you tho.....
Awwww, you made me smile again.
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Plus, plus, plus --- if I had any. I owe you, Stryker. Thanks again for this post. Put a big smile on my face.
Kimberlye
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HI Farmall,
I got into back in about 2006 and my hopes were dashed every other day. I was telling friends and family it was a sure thing and then it's not and then it is. It didn't take too long for me to figure out who the gurus were and what was up. It has only been recently though that I have been learning the hows and whys of currency revalue and redenomination. I held on to the RV, always believing in the smoke and mirrors and the reasons why they "must" RV. All the while, I had no concept of what that would actually entail. I'm a long way from truly understanding the ins and outs of foreign currency and government workings, but I'm starting to understand the reasons why the odds are stacked against my multimillion dollar life-changing event I had so hoped for. Like I said before, I have no reason to sell; I'm here to the end. Miracles do happen afterall.........
Kimberlye
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I was thinking the samething, I'm on it....
Thanks, Stryker. I'm out of pluses for the day, so I owe you a couple for making my day.
Kimberlye
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Wow, thanks, Stryker, for posting this. I actually breathed a sigh of relief after reading it. It may take some time, but it sounds like maybe it will all work out.
Happy Sunday,
Kimberlye
P.S. It actually might be a great post on its own. I know we have a lot of members invested in Warka and it might make them smile too.
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Hi Sonny,
I have great respect for your knowledge in this investment as well, so when I ask this, it is with all due respect and sincerity. In your opinion, is this article in fact stating that Iraq plans to redenominate their currency? The others have made valid points, it seems, and I would love to hear something, anything, that could dispute what they have explained above. Not grasping at straws here, just trying to learn both sides of this investment.
Thank you,
Kimberlye
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I only hope the lawsuit Warka has implied does not stall the investigation by the CBI. But it might, which will hinder trust from the people even more.
I agree 100 percent, Zig. I guess we need to keep a close watch on what's happening with Warka as well as the other banks in Iraq. If this doesn't turn around, it could be devastating for Iraq, IMO.
Kimberlye
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Thank you all for your clarification and confirmation regarding this article and the IQD process. I gained more knowledge from these posts alone, so very much appreciated. I'm in until the end, so I'll pray for a huge miracle; otherwise, my son will have a little investment as the new IQD gains in value; that is unless Warka decides to screw me.
DVforumuser, thanks again for your layman's explanations. My math-challenged brain picks up a little more every time you explain it.
Happy Sunday everybody,
Kimberlye
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Sorry Kim......sometimes I get carried away.... I'm no expert either.....central Banks, central Governments are never a good thing, just a wolf in sheeps clothing
our fledgling Government in the begining outlawed central banks for a good reason, they would have to much control like the Bank of England
Thanks, Mongo. I'm just learning as I go. It's like being back in school and having to study again. I just can't find the cheat sheet for this one.
Have a great day,
Kimberlye
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Kimberlye you make an excellent observation in my book. + for you. That astute observation is this, what a blow it is for the CBI with this issue with Warka. They were trying to educate the people the banks in Iraq could be trusted, now this. Warka proved the peoples opinions of the banks in Iraq correct. So how would the CBI bring people in to the banking system now? What could they do to entice and convince them to deposit their money now? I think it will have to be dramatic.
Good post Kim.
Thanks, Zig. That was my thought process. I guess I need to learn how Central Banks work. Iraq is already struggling to get the Iraqis to trust their banks, it seems it would be a devastating blow to their economy if the banks fail.
Happy Sunday to you,
Kimberlye
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Wrong...............When you hear the word central,what comes to mind?.....helping other banks?...... HELL-O is anybody in there(knocking on your head)
Central banks are out to...control,takeover and destroy other banks so as to draw and consolidate power and control into their hands. whoever controls the money, controls the country!!!
Hey Mongo,
Wow, it seems I read the article incorrectly and obviously misunderstood the process, according to you.
Guardianship in accordance with the law is 18 months renewable for another 18", revealing that "Bank stumbled in dealing with daily due to reasons outside his control section, including withdrawal of deposits from the Iraqi Government three years ago."
Read more:
I read this as temporarily helping out until they get back on their feet. I consider myself somewhat intelligent, but not when it comes to finance, banking, currency. So thanks for pointing out that I need to do some research and/or ask more questions.
Kimberlye
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HI Dinner Money,
Yes, I expected someone to post something about personal responsibility, and I agree with that. No, I don't blame the government for not warning us. Yes, I made the decision to gamble my money on the IQD and I will not sell my dinar until this game is over. I've been in this for years now and have understood that it was a risk that I was willing to take. Since I purchased my dinar, I have learned much through the years because of my own due diigence and the help of much more knowledgeable people, such as Dinarck, who have helped me to understand terminology and processes that I had no knowledge about. I'm more surprised that the media didn't jump all over this, as they have with other "scams" in the past. I can't think of a particular example right now, but there are examples of the media "warning" potential investors that they could potentially lose money or they are being taken advantage of in some way. This just seems like one of those instances, to me anyway. My rationale, right or wrong, through this process was: You would think it would be all over the media warning potential investors. Since it wasn't, I held onto hope that it's just misinformation out of Iraq. I do take personal responsibility for all my decisions; I was simply stating my thoughts in this regard.
Happy Sunday,
Kimberlye
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Well, I guess the good news is, is that the Central Bank is trying to help the banks in Iraq. As far as Warka, which is my concern, it seems that guardianship over Warka, which has been stated, might be a good thing. I would hope that Iraq would want their citizens to have confidence in all their banks and letting them fail would not accomplish that goal. It may be a long road for Warka to recover, but this appears to be good news -- maybe --- as long as foreign investors don't end up being excuded somehow.
Thanks for the post,
Kimberlye
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Hi WorkerBee,
Yes, I remember that. I also think there were warnings coming out of Iraq, i.e., news articles pretty much stating they were going to redenominate. I guess, in my mind, there was always some reason not to believe what was right there in our face; maybe because it was coming out of Iraq and was not to be trusted. Anyway, our media has warned of similar "scams" in the past and made a big ta-doo so consumers would be aware. No, I know this is not a scam in the sense of illegal, but it just seems to me that the media, our government, would have made a big ta-doo out of the IQD being purchased in mass quantities for years and knowing why we were purchasing it -- hopes of millions. If they, the media, our government, would have just come out and said what was happening on these sites and warned the masses, then maybe it would have saved a lot of heartache along the way. Personally, that's one of the reasons I kept hanging on to a possible RV; the fact that our media was so hush-hush about it all.
Have a great Sunday,
Kimberlye
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Hi Dinarck,
Thank you for responding. That is how I have read all these articles. Yes, you're right, it sucks. I hope they change their mind and find another way to do it, but it's not looking good. So many hopes are going to be shattered when this thing goes down and that is truly sad. Our government has to know what's going on with the dealers selling the dinar and all these IQD sites discussing it. I don't understand why our media didn't publicize what has been going on all these years. I know it's a legal currency and it was our choice to buy it, but they had to know what was going to happen. What is your opinion as to why they wouldn't warn us about a redenomination?
Also, since I don't have the ability to post a question for you on your profile, I need to ask here, even though it's a little off topic. I respect your knowledge and would like your take on Warka as well. I have money in Warka and all the articles coming out of Iraq about Warka being/going bankrupt and some members here voicing problems with their accounts has caused me great concern. Do you believe that the GOI would really "screw" their account holders, even if it was just foreigners that have accounts with them? I don't mean with a redenonination, but I mean actually closing our accounts completely.
Thanks for your response,
Kimberlye
It erases the effects of past hyperinflation overnight and creates confidence in the new currency
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No lobster here, money still there so why keep posting the same old words TAV. Simply followed Adams advice and spread out the risk....oh yeah you probably didn't bother to read that or anything else because you already know it all! Bottom line line is still no one knows what will happen so would appreciate all you doomsdayers keep your opinions (as that is all they are) to yourself!
With all due respect, I have money in Warka and I do want to hear opinions of what people think is going on, good or bad. I want to continue reading articles concerning Warka so I can keep up with what is going on with Warka. I also want to hear from investors who have had dealings with Warka recently so I can know what to expect. I'm sorry if you think it's doomsday talk, but I want to know the truth.
Have a nice evening,
Kimberlye
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THE $50,000 DOLLAR BAG OF GROCERIES......
in LOPster tank
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Thank you all for this thread, RV'ers and Lobsters. It is an important thread that I wish others would read -- just for balancing and grounding, if anything. We've got to be prepared emotionally and financially for whatever happens. I am prepared and have been for a long time, thanks to posts and members like you all. I'm sorry that I can not intelligently contribute to this thread, but I do have good reading comprehension and I do get the point.
Sorry to interrupt, just needed to let you all know that some of us are listening and learning, so please "carry on." You are appreciated.
Happy Thursday,
Kimberlye