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GT5Junkie
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Posts posted by GT5Junkie
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IIf an RD were to occur vs. an RV then in fact it would effect the ISX and it's shares significantly it would mean that the value of your shares held would decrease by a huge number and some shares would be negative in value by a huge number. i.e. I own 1000 shares of xyz co. valued at 1 dinar per share and 1 share of abc co. valued at 10,000 dinar per share if an RD would occur which would wipe the 3 0's out of the dinar my holding of 1000 shares of xyz co. valued at 1 dinar each would not lose nor gain value, however my 1 share of abc co. would now be valued at 10 dinar when I spent 10,000 dinar to get it and 1000 dinar to get the shares of xyz co. yet the true value of each company never went up nor down!
And the true value of your shares never went up or down either! Do you really not understand that? You spent 11,000 dinar, worth $9.46, and after an RD they're worth 11 dinar, still worth $9.46.
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Sure, they have oil... lots of oil. They are even rumored to have a wee bit of gold. So they do have resources. And one thing they do have ... Middle East pride.. I don't think after waiting in the wings for this long they are going to want to come back at a piss poor rate. IMO. What do you think?
I think (actually, I know) that no other country on the planet monetizes gold and oil that are in the ground and uses it to back their currency.
Not sure what the going rate for "Middle East Pride" is, but I'm guessing they can't use that to back their currency either.
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On the note of a "LOP" or redenomination (RD is inevitable to bring the currency to competitive international status)...
I don't think anyone will argue that RD will happen. It has to. One thing that indicates to me that it will not be the situation that Venezuela implemented (Yes, I read most of that post. It is indeed interesting how they did it); is the talk about the introduction of the 250 and 500 dinar coins. Now, unless they are going to make them 250 and 500 dinar in the 1,000 class of currency, and make them of gold, silver or something significant to back the value; then it would appear that they are intending to use them for making change in daily transactions, and for some time in the foreseeable future. If you look at most modern coinage for currency, they are usually small denominations (in value) made of metal for longevity, to ensure they are not constantly reprinting (incurring additional expense) millions of units of relatively low value currency. Clearly, most of the exceptions are related to gold, silver and precious metal coinage which typically have a far greater value than the normal currencies (denominations) which are used in daily transactions. Coins simply have a VERY long service life.
So, to me, it seems as though they are going to get rid of (LOP) the 1,000 class notes by making them irrelevant for daily transactions by increasing their value until they are no longer paractical. However, this would appear to be a long term commitment, since the coins would be essentially the "change" denominations at first. This would also support the articles indicating that they are considering a 100,000 class note (which they seem to have implied will be paper by referrencing them as notes) to help assist with transactions in the near term. Likely those will be relatively low in number (retired for condition or aging) when they finally become irrelevant due to their high value. Once they acheive the redenomination, one would expect to see new coinage and notes coming out to support the increased value (lower denominations). At that time they could either retire the 250 and 500 dinar coins, or move those denominations to paper, as they will be transacted less in daily business.
Clearly my opinion, but ever since they have stated they are making coins for 250 and 500 dinar, it just hasn't set right in my mind. I mean practically no one else is making coins for large denominations, except for the precious metal class. But, that is likely another discussion in itself.
Thoughts?...
I think they're referring to a future currency but using the current exchange rate to explain their value. I think one thing that indicates this is that sometimes they'll use the word "class" and sometimes they won't. Sometimes they're just talking about a thousand dinar, and they'll just say a thousand dinar note, and sometimes (when it appears that they're talking about a future currency) they'll say "in the class of 1000 dinar" or something similar.
I think the 100,000 dinar note will actually be a 100 dinar note, and will be equivalent in value to 4 of the current 25,000 notes. It'll be their version of our hundred dollar bill. Ditto with the 250 and 500 and 1000 dinar coins, they'll actually be .25 and .5 and 1 dinar coins, and will be worth what 250, 500, and 1000 dinar are worth now.
It seems like you might be using the term lop incorrectly. Technically the term is redenomination, but for whatever reason, everyone uses lop instead. You can't lop one note, you can only lop the entire currency, everything has its decimal shifted three places to the left. 25,000 becomes 25, 1000 becomes 1, 250 becomes .25 (i.e. a quarter).
The small denoms are one of the guru/pumper staples that is really the most irksome to me. They say small denoms are proof of an impending RV but you need small denoms for the exact same reason with a 3 zero lop. It's seriously ridiculous, and it's unfortunate that anyone actually falls for something that is so obvious.
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I absolutely agree that buying dinar on reserve or spending more than you can afford on ANY speculative investment is a bad thing.
My problem with labeling the so called guru's as harmful is two-fold.
1. If they really wanted to pump dinar sales, why proclaim ridiculous rates of $3,4,5? Rates of a penny to a dime would drive more sales because people would need more dinar to reach whatever monetary goal they set.
I think most people in this investment aren't really in a position to buy whatever amount of dinar they want in order to get to their "monetary goal." If they want a million or two bucks, spending 1 or 2 grand and hoping for a $1+ RV is feasible. Spending a hundred thousand on the promise of a .01 RV in order to get to a million dollar return isn't. Big numbers puts people in the seats. A lot of people won't bother on a speculative longshot in order to make a few hundred or a thousand percent, but they sure will for 300,000%. Do you buy lotto tickets where the biggest payout is 10 bucks? I don't. I buy the Powerballs and the Mega Millions. If I get lucky I wanna be a millionaire, I don't want to just win enough money to go to Arby's.
2. The latest round of rumors has the RV happening at any moment...which would seem to discourage buying since there is no time left to do so.As long as theres time to click the "submit order" button on a dinar dealers website, then there's still time to do so. There's been "it's happening right now" rumors for years. Heck, there's been "It happened two days ago" rumors for years. It encourages people to leap with looking.
As far as buying on reserve, I was under the impression that no dealers allowed this any more.I'm not sure, but layaway probably functions in the essentially the same manner. It's certainly possible to put dinar on layaway that you won't have the ability to pay for comfortably within the 30 day window. People put it on layaway thinking they're locking themselves in and if the RV happens within 30 days they're good to go. I'd be willing to bet some people are failing to pay the remaining 90% balance on layaways, and if that's true then layaway is functioning in the exact same way as "reserve."
And how do you respond to the argument that the 25k notes will maintain their value like $500 and $1000 bills have here...they were just taken out of circulation because they weren't needed any more? Seems plausible...This is really neither here nor there when it comes to "delete the zeros." They have referred to what Turkey and Brazil (and Russia) did as deleting the zeros, so it's obvious they're not talking about just taking big bills out of circulation.
As far as what I think about that notion in general, I'd say it's not possible. Without a big RV they NEED those big notes in circulation or they functionally have no currency. But with those trillions in big notes out there, there's no way they can do a big RV.
The Go RV crowd thinks that they've been pulling these notes out of circulation for months or years. The first problem with that is, if they have been, and if that's what "delete the zeros" means, then why are they just voting on it now? Why send a vote through parliament to vote on something they've supposedly been doing for a year or more?
The second problem is, why do the numbers put out by the CBI completely contradict this? What do they have to gain by lying? If the CBI had cut the amount of dinar in circulation by half, why wouldn't they have already raised the rate to 600 to 1 instead of leaving it at 1170? And don't say they can't adjust the rate, the rate already has changed, it hasn't always been 1170. They not only have nothing to gain, they have a lot to lose, as keeping the exchange rate artificially low would just promote more and more speculation, which makes a big RV less and less likely.
The third problem is that in order to be able to get acceptance on an RV of even 10 cents they'd have to remove virtually all the dinar from circulation. They could MAYBE manage 10 cents if they had an M2 of 1 or 2 trillion. No one thinks it's that little, even the most optimistic pumper, from what I've seen. It's just not possible, there's almost certainly more IQD than that just outside the country, and there's definitely way more than that in "quasi money."
Fourth, if they're paying out USD in order to retract IQD, it doesn't really help the RV situation because for every trillion in IQD they'd pull out, they'd have to give up a billion in USD, and the USD in reserves is what's backing their currency. They pull in half the IQD, they give up half their reserve, you still come out to the same exchange rate.
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Pacific Rim Bank issues new memo Dinar scam
Link www.pacificrimbank.com/dinar.html
I don't think this is really that new, it's been that way for at least a couple weeks. Their assessment of the way in which the dinar is promoted as an investment seems accurate, and the link that they provide has information that many would do well to read.
and this was the sam bank that was all gung ho for the dinar prior they lost credibility. Honetly this is not the first time its been called a scam and wont be the last unti we are cashing in.
I wouldn't really call this "all gung ho:"
This is the response I got when emailing them asking why buy and not sell the Iraqi Dinar?============================================================================
Hi Mike,
We are only offering the Iraqi Dinar exchange because the currency exchange service we use can accommodate the Dinar exchange. We are not selling any because we do not want to appear to be endorsing the investment in any way.
Michael Sasaki
SVP & CFO
Pacific Rim Bank
Two Waterfront Plaza
500 Ala Moana Blvd., #2A
Honolulu, HI 96813
Direct: 808.457.3902 | Cell: 808.351.2171
www.pacificrimbank.com
Read more: http://dinarvets.com.../#ixzz1WUPuumWi
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Unlike 95% of the RVers, I've never said that it's going to go down a certain way with 100% certainty. Look at how many of the RVers use "when" rather than "if" in their posts. There's hundreds or thousands of posters on this site that speak of an RV to .10 or .86+ as if it's a foregone conclusion. As if it's the only possible outcome. A lop isn't the only possible outcome, but IT IS the outcome mentioned in the article in this thread.
Do you think seeing "this is good news for the RV" or "this means we're almost to the RV" over and over and over in every single thread in response to every single article is beneficial to someone that's thinking about purchasing dinar and has come here to get honest/factual information? You've got people buying dinar on reserve or layaway that, by definition, they can't afford. Is that healthy? It's sickening, to be quite frank.
And in the case of this thread, I never actually even said anything, merely pointed out what "delete the zeros" actually means, by quoting. If people want to insist it's all smoke and mirrors then that's their prerogative. It's not very rational, but it's still their decision. Claiming that "delete the zeros" means RV or is a component of an RV (pulling 000 notes from circulation) is not their prerogative. It's not up for debate. The articles have made it abundantly, without a doubt, 100% clear, that it means RD/lop. At this point, anyone that says otherwise is either uninformed or lying. I don't like lying, and people that are uninformed or are simply blinded by dollar signs running around touting an incorrect interpretation as gospel are just as bad.
This is the Internet, and as such has a certain kind of disconnect from reality. But the people that spent their rent money on dinar because the RV was happening tomorrow? That's real. If the people that are already true believers were the only people that read forums then there really wouldn't be any harm. They can all stand around in a circle and pat each other on the back and talk about how rich they're going to be (any day now!) and sing Kumbaya and it wouldn't really hurt anyone. But the people on the fence, the people that aren't sure, the people that just heard about the dinar for the first time, they come here too. And seeing incorrect translations, or woefully ignorant interpretations, or just flat out lies. That's not good for anyone but the dinar dealers.
So in answer to your question; posting the truth is not stirring the pot. I'm not going to go into a news article thread that isn't about a lop and lie and say that it is, but when I see an article that IS about a lop with a bunch of people in it saying that it ISN'T? Why shouldn't I interject a little dose of reality?
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Man can you give it a rest!
Your like a broken record!!
We all know where you stand and you don't have to try and drive every article down our throats with your doom and gloom!!
I'm not the one that's posting RD/LOP articles, get mad at Sonny1. I'm just pointing out what "delete the zeros" means, I'm sick of gurus/pumpers/dreamers either misinterpreting it or flat out lying about what it means.
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"Turkey, Brazil and many countries of the world have experienced deleting three zeros"
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I just received this cc link from a friend and found it to be packed full of some very credible information. The guest speaker claims to be part of the global settlement and a member of the white hats group. It.s long and goes off onto other issues but keeps coming back to the R/V with, well, I'll let you be the judge. The guest is a very knowledgeable and well informed. I'd like to hear your feedback on what he has to say.
You lost me at "credible" and "global settlement."
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The bottom line is that you're not likely to get an unbiased opinion from anyone that either is profiting or stands to profit from a big RV. There is money to be made right now off of dinar sales spreads and advertising and "premium" memberships and if you expect to get an unbiased opinion about the dinar from someone that is making money from the hype about the dinar then you are nuts. No one that is making 5 grand a month off those things is going to tell you the truth, or anything that is negative about the "investment."
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At least at my bank I don't think security is a big issue, I tried to get 9000.00 cash to barter with, in order to buy a used car, ( figured cash on hand would make things easier to get a better price)
But the bank said it would take a couple days to get that kinda cash in house. Wierd, but make"s me think everything is so electronic now that they really don"t keep much on hand? Thus perhaps
extra guards may not be a issue... Bank is PNC........ Just my thought.
That's pretty weird, that they couldn't cough up 9 grand at a moments notice. I was selling one car (privately) and buying another and trying to do it over the weekend so I ended up getting the 12 grand that I sold the old car for in cash from the guys bank on a Sunday and it was no problem.
Cash in hand on buying a used car can depend. If you're dangling it under the nose of a private seller I could see it helping, but with a dealership it doesn't really make much difference. I've worked at a few back in the day and they would actually much prefer that you finance because it gives them an extra shot at getting more money out of you.
FYI, cash will not get you a better deal at a car dealer. We would much prefer that you finance, the banks all pay us a flat amount to set up loans so that allows us to give you a better price. If your going to pay "cash" most large car dealers prefer checks, it's much easier for us to deal with.
As far as the bank goes, I am not worred about anyone knowing that i have Dinar, just walk in like i own the place and do my transaction.
Funny, I hadn't seen your post when I posted, and I even used the exact phrase "much prefer."
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The CBIs documents don't seem to indicate anything is being dried up. Both currency outside banks and the M2 keep going up and up.
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now to delete three zeros from the currency...deleting zeros the fastest way to increase the value of local currency
Turkey, Brazil and many countries of the world have experienced deleting three zeros -
In case anyone hadn't noticed, Sirius is into a lot of conspiracy theories that he has zero support for and likes to vomit into every thread he comes across.
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Sometimes I think they don't read anything other than the title of the articles.
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Tired of all this Negative Nancy or Debbie Downers..
Lifting of zero's has no bearing on the currency we hold... Take the 25,000 bill we have.. It takes 1000 fils per dinar.. So now we the 25 dinar coin without the zero's but, it still takes 1000 fils per dinar in which you still have a value of 25,000... The only thing that is changing is the appearance of the currency.. The new currency will be 5, 10, 25, 50, and the new 100,000 .. There is no LOP or DV in any of this.. NO speculations.. The zero's on the current bills only reflected inflation in the economy..
Let's say it revaules at 3 dollars.. 25,000 x 3 = 75,000 1000 fils x 3 = 3,000 3,000 x 25 = 75,000 same value
BILL COIN
First of all, where is the fil right now? There isn't one. Second, even if there were, a current fil would just be 1/1000th of a current dinar, and the new fil would be 1/1000th of a new dinar. Sorry, but your logic simply doesn't work.
Debunk this.. You buy 10,000 shares on the ISX at 3 dollars a share.. They delete the zero's.. I just put 30,000 dollars into it only to have 30 dollars the next day after deletion.. Where's your logic on that.. Electronic or paper it has to carry the same value..
that's not how it works. You have 10,000 shares that you bought for 30,000 USD (~30,000,000 dinar). They delete the zeros. You still have 10,000 shares. They're now worth 30,000 new dinar, which is still worth 30,000 USD. They're not deleting zeros from the USD.
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Somebody needs to go back to school!!!! From .0008547 to $3.68 is ONLY a 4,300 % increase. The MOST Kuwait increaSEd was fro $.10 to $9.00,and increase of only 90 %
The math abilities of the average American are truly depressing. From 0.1 to 9 is a 90% increase? Good lord. Those increases you cited are 4300 and 90 TIMES increases. 0.1 x 90 = 9. x does not equal %. 4,300x = 430,000%. 90x = 9,000%.
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What's the proof of their (incorrect) interpretation of what delete three zeros means?
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When Saleh (CBI) said they added 3 zeros, they physically added the 3 zeros currencies of 25k, 10k,5k and 1k. Now you are saying..deleting 3 zeros means differently? Lol!
Yep. They said both Turkey and Brazil deleted three zeros. Pretty clear cut. No room for interpretation. They referred to two countries that lopped as having "deleted three zeros.". This is not subject to debate. If you read BLs stuff you saw this article within the last week or so.
And they let the two currencies coexist without any expiration date..? You are kidding yourself.where did I say no expiration date? I'll help you out: I didn't.
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Yeah , didn't they just scream at you that you were in their LOP section? But it's ok for them to troll any other post
and spew the same stuff over and over. I guess it makes them feel superior, either that or they lead really sad lives.
I just ignore what they say as I have it all memorized after 3000 posts from the same 4.
PS...thanks for the post BL
If people would stop posting articles about lopping, like this one, you'd probably get a lot less people talking about lops.
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to reduce the dollar exchange rate in conjunction with the imminent implementation of the policy to delete the zeros by the Central Bank
I like that part, great post BL
read the few words before that, not a lop, but an increase in value
Lopping increases the value of 1 dinar from being worth .00086 dollars to .86 dollars.
Delete the zeros means lop. There have been articles where they referred to what Turkey and Brazil did as deleting the zeros. Why would they use the same phrase for two completely different things?
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"imminent implementation of the policy to delete the zeros by the Central Bank."
I LOVE this part!
You love lopping?
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[kaperoni] “Saleh pointed out “there is no difference in the new currency on rights at the exchange rate and acquisitions,” noting “when we want to buy dollars in 1200, we buy at one dinar dinars and 200 fils.”
[kaperoni] Now, this is a bit confusing and makes no sense with the computer translator…but this is my view as to what it really means.
[kaperoni] My interpretation is they are saying is that when they want $1,200 dollars, they will pay 1,000 dinars (they say “one dinar dinars” -which to me is really one thousand) and 200 fils. or a 1 to $1 rate.
This interpretation is incorrect, and you can TELL it is incorrect.
He's saying one thousand dinar and 200 fils = 1200 dollars and that's a 1 to 1 rate. That is wrong. 1 thousand dinar and 200 fils = 1000.2 dinar, so it would not be a 1 to 1 rate.
The number 1000.2 really doesn't make sense in this context, but 1.2 does. one dinar dinars and 200 fils means 1.2 dinar.
What Saleh said makes perfect sense if you read it as "if you want to buy a dollar (or something worth a dollar) you can pay 1200 (i.e. just a rounding of their 1170 exchange rate) or you can pay 1.2 dinars."
Further supporting this, he says new currency. Obviously he's not talking about the currency that came out in 2003 if he's talking new currency. And (if you were to believe kaperonis interpretation) he can't be talking about new lower denoms, because 1200 dinar wouldn't require new lower denoms, they already have thousands and hundreds. Because he can not be talking about either of those, he has to be talking about a completely new currency, i.e. a complete RD.
Interpreted this way, his “there is no difference in the new currency on rights at the exchange rate and acquisitions" also makes sense. If a 25,000 note worth 21 bucks becomes a 25 note worth 21 bucks, nothing has changed in your purchasing power (acquisitions). That statement doesn't really make any sense from a 1 to 1 RV interpretation. In a 1 to 1 RV there is a HUGE difference in the "new" currencies "rights" to make "acquisitions."
Put this together with the other delete the zero articles and the fact that they're talking about an RD (lop) is extremely obvious.
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I hate that there is confusion between a LOP and a RD on this board...LOP was a term made up on the forums...its not an actual monetary process...what it was orignally used for was the 'LOP'ing off of three Zeros from the Notes and the Exchange rate....Yes, the ACTUAL term for that is Redenomination....LOP was just easier to write
It is annoying. At first I used RD, then I usually used RD/lop, now I just use lop. If you use the actual term, thanks to the influence of gurus/pumpers/liars, half the people will think you're talking about an RV.
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Let us have a THINK
in LOPster tank
Posted
You guys rich yet?