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zigmeister

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Everything posted by zigmeister

  1. Most definitely they are speaking of an RD. And this is their argument, if inflation is the issue or one of the motivations, is not needed to stabilize inflation, because it is stabilized. He also believes it would have a negative micro economic effect on the dinar as well.
  2. This article is a bit confusing. However taking a closer look it appears The CBI is going to issue coins in small groups. This sounds appealing. It seems on the table is the issuing of a new currency of larger groups. But what is going to happen they are going to produce coins in small groups next year. Interesting they refer to the 25,000 dinar as a coin. So in this article it seems to me they are referring to lower denominations. Putting them out in the interim before the new currency.
  3. Fib must be setting up his hasher. Fib is a bitcoin guru.
  4. Japan talks about it all the time, still they have not done it.
  5. I did not say I would buy them, just sort of looking at where they may go or could go with them. It all depends how it turns out, I am not into negative stuff, but am realistic. This is why there probably is a small amount going out in the first round. I hope they do go well. After all, what does an Iraqi person have to lose with his dinar sitting under his mattress he is not using anyway because he prefers dollars? The dinar is not going to go down, as far as I can see it can only go up, however they do it. The dinar bonds is a tool of which they are complying with the IMF in order to enter in article 8. This effort of bonds is the road marker of where they want to be and where they want to go, International accepted currency. Once accepted in article 8 and WTO, I wonder if they will try international bonds. It has crossed my mind with an RD hanging over our heads, some might be inclined to buy them to save their dinar investment. Iraq may announce they are going to RD, but international bonds are available for those who have dinar in other countries. This would bring a huge amount of dinar back to Iraq without them paying a dime right at the get go. Just thinking out loud. You are right of course bankers win usually, that's why bonds internationally put in the market would be perfect for them.
  6. Touche Socal. One can only wonder why the articles the CBI states it is not ready to RD/lift zero's, that in itself is problematic in that, when a country plans to delete zero's by early 2014, they have skipped their education system for the people. It is one thing to state you are going to do it, maybe and doing it. Informations is important.
  7. Well mr. positive, you have made your point. Don't buy bonds, then don't. We will see what unfolds.
  8. I don't believe in a huge RV for sure. But, it is possible if these bonds work for them and bring their 2% between market rate and real rate, which I think they will. They move into article 8, WTO, so on so forth. It would not surprise me at all to see Iraqi international bonds offered to the international world. Some of us would be inclined to buy some would we not? It is something Turki stated a while back. I believe it was in the article they could back dinar, I can't remember the percentage right off the top of my head now. Anyway he stated something to the effect he felt the people who have invested in dinar internationally will be inclined to reinvest their money back into the Iraq. I am thinking bonds might have been one of these avenues. So let's say they offer bonds internationally, we take our dinar in for some bonds......less dinar, more valuable. Could be a win win for everyone. Just a thought.
  9. http://www.bbc.co.uk/news/technology-24986264 19 November 2013 Last updated at 11:32 ET 'Legitimate' Bitcoin's value soars after Senate hearingThe value of virtual currency Bitcoin has soared to over $900 (£559), after a US Senate committee hearing. The committee was told that virtual currencies were a "legitimate financial service" with the same benefits and risks as other online payment systems. The Homeland Security and Governmental Affairs Committee is exploring the "promises and risks" of Bitcoin for "government and society at large". The currency has more than trebled in value since October. Fear and confusionThe US Senate hearing was prompted by the closure of the Silk Road website in October. The site, which sold drugs and other illegal goods, was shut down by the FBI. Users of the site were required to pay for their transactions using bitcoins. Representatives from the Department of Justice and financial regulator the Securities and Exchange Commission have been asked to provide their views about virtual currencies to the committee and submissions have been received from the FBI and the US Federal Reserve. "Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others, and confused the heck out of the rest of us," the chair of the committee, Senator Thomas Carper, said in opening remarks. The FBI, in a letter to the committee released on Sunday, said that it recognised virtual currencies offered "legitimate financial services" but they could be "exploited by malicious actors". Mythili Raman, the head of the Justice Department's Criminal Division, told the committee: "We have seen increasing use of such currencies by drug dealers, traffickers of child pornography, and perpetrators of large-scale fraud schemes." Mainstream acceptanceJerry Brito, senior research fellow at George Mason University told Bloomberg: ''Two years ago it was alarm when Silk Road first came on the scene. ''Since then, Congress has been educating itself and understands that there are great potential benefits, and like any new technology there are going to be some challenges. But they see there is a balance to be struck here and they are generally positive on the technology," he said. Trade in Bitcoin is small compared with that in countries' official currencies. But since its creation in 2008, Bitcoin has become a popular way to pay for things online. There are currently more than 12 million bitcoins in existence according to Bitcoincharts, a website that provides financial information about the currency. On one exchange site, Mt. Gox, the value of the currency rose to $900 (£559) on Monday before falling back to $727 (£452). This compares with a price of $200 (£124) in late October. The closing down of Silk Road and hearings in front of US government committees have led some to believe that prices are increasing as investors think Bitcoin will gain more mainstream acceptance. "Lots of factors are driving the price action in Bitcoin, including pure speculation," said Garrick Hileman, an economic historian at the London School of Economics. "Regulatory interest in Bitcoin also traditionally has a positive effect on the price of Bitcoin," he added. Jan Lambregts, head of financial market research at Rabobank, which does not trade in Bitcoin, said regulators were right to get involved. "Looking at it from a distance, it very much looks like it could be a speculative bubble. It's a small market, with a lot of interest in it, which is inflating and distorting the price," he said. "But you can see the concerns for governments - this is a currency outside their normal domain and which is not influenced by central banks. "It may all be relatively small-scale now, but decisions taken now could have wider repercussions were such virtual currency experiments to be expanded in the future," he added. Some have questioned whether trading in Bitcoin is insufficiently transparent and therefore easier to use for illegitimate means. Patrick Murck, from the Bitcoin Foundation, which promotes the use of the currency, told the BBC that the network was very open and everybody could see every transaction that happened. "I would challenge that it's for illegitimate use or bad actions. What we're finding is not that it's a haven for illegitimate activities but that there are many legitimate uses," he said. Whatever people are using Bitcoin for, Mr Brito thinks it's here to stay. "These hearings mean Bitcoin is finally coming into its own," he said. "It's a real thing and it's not going anywhere and these hearings highlight that."
  10. I see you are in a pleasant frame of mind today. These bonds are being offered to the Iraqi people, not for international sales, so you are not included in these sales. Yes they are asking them to bring their dinar in for bonds. One more thing, which has skipped by many of us, including myself, the bonds are electronic, which means the banks electronic capabilities are up and ready to roll. A sign of progress for Iraq.
  11. I must clarify, I am not saying bonds are the answer but yes a tool to remove dinar off the streets of Iraq. This would open the door to other avenue's.
  12. I would have to disagree somewhat with this, being they are at this time an importing country it would be very helpful in buying commodities and products internationally. Far better for them to use their dinar than dollar. They need stuff to help build their country on an international level. So revaluing even a small increment would be a good thing. Devaluing....well that is not going to happen, dinar has only one way to go, but up. They don't have to RD btw, there are other ways around it, one of course is bonds.
  13. As I understand it, there are more bonds they will issue. It makes sense they would start small. First you have to get the Iraqi people to buy them, let alone go into the bank and buy them. I would not be surprised to see the exchange rate rise. It won't take long before more people will begin to invest in the bonds. Right now they are putting out the bait.
  14. I was thinking it was to bring the two rates closer together. However if this works, people buy the bonds, they bring people in the bank and bring the dinar off the streets bringing the rate up....right?
  15. What an uplifting thread. There are actually people out there who do want a job, who did have a job but because of their age or physical/health issues find themselves in a real ******* spot. Who can't get social security early because it does not take up the slack. You people are very judgmental. Oh that's right we are Christians.....with a catch! http://the-wopr.newsvine.com/_news/2013/09/19/20572264-church-members-mistreat-homeless-man-in-church-unaware-it-is-their-pastor-in-disguise
  16. Thanks Yota. For some of us this welcome news, for others it is not. With bonds coming out, I would think the restructure would come later, I don't know.
  17. This is actually very good news. The way I see it, again, this is going to get done shortly, with or with out Iraq.
  18. He didn't get all, that is why he cut his time short, sluffed off the Iraqi community. It seems to me the Kurds have their support, with Turkey and Washington. We will see. Do you think Washington, the Kurds and Turkey has short circuited Maliki on this?
  19. I read this earlier and at the time was not sure what all it meant. Here it states it has passed, but other countries are trying to prevent it? I think this article may be more propaganda to stop the train.....maybe?
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