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Saddam was not "taken out of power" until 2003, right?And someone has already neg'd me for just asking this question?

In Adam's blog (that we all get mail about) he says this (bold added by me) This may be among the most common explanations used for why the dinar could be revalued back up. Namely that it was devalued suddenly down when Saddam was thrown out. The problem is that this is simply false. Go research at the CBI's history page and they say in 1995 (8 years BEFORE the Iraq war) the dinar had fallen to 3000 dinars per dollar (far less than mere pennies) due to massive printing of the currency over a period of years. Go look on currency history sites like http://www.oanda.com/currency/historical-rates/ and you might not see exactly the same pattern, but one pretty close. Every resource I know of confirms this. Adam is clearly a smart guy and is very knowledgeable about the dinar so it is very hard for me to imagine he actually does not know the correct history here. So why push this clearly false info?

From his biography, previewed on 60 Minutes tonight, we see that had Steve not delayed his surgery for 9 months while he pursued non-traditional methods, he might have had a much better outcome (i.e. if they could have operated before the cancer spread to his liver and other organs).

He starts off with two clear lies. 1 "I find myself in a tv studio...". If you look how he is lit with just one light and of the backdrop, its more like someone's garage. 2 "the central banks all owned by the same people and networks..." . This has been gone over many many times. Its rubbish. In order for the Fed to be controlled by a single group, that group would have to own controlling interestes in a large portion of all private banks in the US. Simply shareholder records easily show this to be false. I only watched the first few minutes. But to me he's just mixing in some facts about banking with his spin on various conspiracy theories.

Except that you neglect to mention that the dinar was down to ~3000 dinar per dollar by 1995. i.e. it didn't drop suddenly in 2003 due to Saddam's fall, it had already been this low for several years.

I can't see Iraq agreeing to limit production to 3 or 4Mbpd without something huge in return. But it will also take several years to get to the point that its an issue. Its also not clear just how binding OPECs quotas are since the Saudis routinely pump a half million or so over. Right, anything even close to 1:1 is a fantasy.

"rumor"? I won't even go that far. A rumor i something they actually heard, this is obviously just pumper fabrication.

Right you are! I mean its been a whole 16 hrs since it was posted here . We certainly don't want to risk the crisis of a newbie passing by and not being immediately presented with this masterwork of gibberish! I was worried for a moment, but now thanks to Easy I can relax. Boy, we doged a bullet there ! (couldn't resist).

TimS is correct as I see it. This "explanation" has been posted 1000s of times since being made up by who knows who back in 2008 (judging by the $50/b oil price). A completely conflates the role of the Fed and the UST flowing money (and even oil) back and forth in a totally illegal manner.

Agreed. If it comes in at 0.05 or greater than there is no "room" left for an RD and I'd leave a big chunk in the game (taking out maybe 1/3) but if it RV's to 0.0015 so a 1000:1 RD is on the way, or even 0.015 that a 100:1 RD is coming, then I'd cash out everything.

Follow your own advice!!How did we finally get out of the great depression and all of its follow on issues? Massive deficit spending for WWII . Wars can be good for the economy because of war spending, but we have already bought the tanks and bullets so a massive manufacturing ramp up will not be needed and our debt is already very high. So in this day and age wars are only expensive and a drain on the economy.

Very few, but now they have 3,000 times as much dinars as they had back when the dinar was worth $3. For a country that imports a huge amount of everything that they buy, yes purchasing power IS hughely impacted. Prices in Iraq would have to fall by 3000x if they RV by that amount. Otherwise there is essentially an economic short circuit between the neighboring countries. On that point I am in total agreement. Again, total agreement.

This makes no sense to me at all. If the point was to convince Iraqis that an RV was not about to happen, why not just say nothing? The most straight forward interpretation of the articles (that I agree are for Iraqi consumption) saying that a RD is coming, is ... that an RD IS coming. It makes the most sense for Iraq's economy as well. In a hyper-inflation environment (that was the case up to a couple of years ago) the key is to have as little cash as possible, so that is likely still a common mode of operation. But for an RV you want as much as possible. This all leads me to think the winner/loser conflicts if a big RV were to occur will be very bad. Sure, but the ISX will still have to be vastly revalued if a big RV happens. This will be a very risky time on the ISX as markets tend to overshoot. The auctions are just redistributing dollars and dinars to regional banks (or so it seems to me). and as for "rambling thoughts", that's pretty much what we all are doing!

And you think he is so stupid to think that getting into a war with Iran (which has a serious military) would HELP his re-election? Please, no matter what you think of Obama's policies he is not an idiot.

Certainly anything that is priced in dollars (prices, wages, loans, etc) will not be effected by an RD or an RV. The ISX is priced in dinars so that seems like a prime candiate. I'd guess any government job or expense has to be in dinars. As for day to day stuff, if its not priced in dinars than all the comments one way or the other about confusion over an RD seems pretty unfounded. But hard to know just what daily life is like.

Perhaps you could leave the euphemisms out of it. So you think a soda that cost 500 dinar's before the RV to $1 will cost $500 USD after the RV? If everything remains fixed in dinar prices Iraq gains nothing, except making their products the most expensive in the world so they won't be able to export a thing. Everything has to come down after a big RV just the same as for an RD. But the problem is the RD doesn't actually impact prices or wages, it just offers a new currency and the existing proces and wages are merely expressed in the new currency. With an RV actual price changes must occur but the government does not have the authority to mandate this so it will just happen organically, and with a big change that means chaotically with both winers (cash holders) and losers (thing holders). Iraq has said that the monetary restricting will not alter the value of shares. It will change the price when expressed in new currency of course just like anything else when expressed in new currency.As far as the OP goes I think that 10x or 1,000% (i.e. an RV to around a penny) is the maximum it could go, though I don't expect nearly that much and a lot of things have to come down in extremes to get that far.

You expected me to use my discretion about foundation X? Huh? Its in a youtube video, are you thinking somehow that referring to foundation X, the fictitious name Lord James used, is letting the cat out of the bag or something? In any case you just want to assert that you are right and I am wrong and not discuss it. Ok, as you like.

Sure, I didn't say it wasn't known, but not known "from this" i.e. just from the cut and pasted figures.

So this saysM2 in July 2011 is 1.153 times M2 in July of 2010 and that M2 in August 2011 is 1.145 times M2 in August 2010 What we don't know from this is how M2 changed from July to August 2010. But lets say it was just slowly increasing. Then indeed this would show that from July to August 2011 M2 went down very slightly, but still is greater then it was a year ago. So the slight decrease from July to August is not enough to make up for the increases (15%) from August 2010 to July 2011. Year over year seems an odd way of expressing such things to me, I think of it more for reporting on financial things that have a strong seasonal component, which this does not so much.

An F-16 costs about $70M, so 16 of them is $1.12B. They likely piad more for training and spare parts etc, so call it $2B. But they also likely are paying over several years. What's the problem?

There is no mid-month listing for Feb, March, or April either. This is just informational, the UN is not setting these rates. I think everyone is reading far too much into this.

It fits with the data. Sorry if you don't like it. Because it fits with the other estimates, it fits with the estimates of annual production and its very hard to see how production could actually be 20x greater and that extra amount is all funneled away in secret. It doesn't make sense. And your evidence that the Rothschilds are indeed trillionaires? That's not what Lord James said. So now you know the scoop on foundation X too? Did you get your official white hat? (sorry, no offense, but I just can't take this stuff seriously, I've heard it all for 40 years and not one tiny piece has ever turned out to be true).

So lets see if this makes any sort of sense. What would "it has already RV'd" mean? Clearly transactions are not being done by the CBI at a new rate, so it isn't "done" in the sense of executed transactions. The only other "done" definition would be that the CBI has signed some sort of documents agreeing to a fixed rate that will occur based on some other criteria. That would certainly be among the most secret documents every signed. Yet, EGK wants us to believe is been leaked to the internet! If so many people know about this that it has made it to forums like this there would be enough folks who really know for sure that dinar sales would have gone through the roof (the first 100 times this went around). But of course they just continue on as usual. EGK may believe all this stuff, but I urge you to think about whether its remotely plausible before jumping on his bandwagon. Unless you invested more than you can afford and need to get some back, even at a lose, I would agree with this. There is no point in selling now since the lose was built into the purchase price. Might as well wait to see what happens. Just don't expect to become wealthy. Hope to become wealthy? Sure, hope is good. But don't let that confuse your actual financial plan.

In defence of EGK, please watch this video of Lord James of Blackheath addressing the House of Lords. His accent is a bit plummy and it might be difficult for an American to understand, but if you start from 6.45 he clearly demonstrates that the above ground figures for gold are wildly incorrect. And purposely so I might add. http://www.youtube.com/watch?v=QaA-5_IjkeE&feature=related Its nothing of the kind, and yes I did watch it. His argument is that1) the figures for total gold above ground all come from a single source of a National Geographic article estimating 161,000 tones. I see different estimates so its not clear that this is the single source. But the number fits with current estimates of gold mined per year (2,500 tons) and we are much more efficient at it now, though the supplies are much less. 2) He says that figure is less then the total amount of gold owned by the Vatican. Well estimates of that are only in the few billions of dollars, not 5 trillion dollars. My guess is that the well meaning Lord James of Blackheath is simply confusing his billions with his trillions. In the past British english used the term billion to mean one million million, what US english calls a trillion. That usage has largely been phased out and they follow the US terminology of million, billion, trillion, but I suspect he is just getting them confused. The vatican is estimated to have maybe 5 billion dollars worth of gold, not 5 trillion. That would give them something on the order of 1/1000th of all the gold ever minded. That I could believe. The bottom line to this whole thing is that if the mysterious "foundation X" that he talks about wants to donate vast sums to help out the UK (or the wold), why don't they just do it? All this "we only will speak to the top 5 or 6 highest government officials on the planet" is nonsense. Want to talk with the UK Prime Minister? Its easy, just donate a trillion dollars to various instituions, the UK health care system, or British rail or ... Right? I'm sure you phone will ring after that. I mean if you are the richest entity on the planet and wish to pull our civilization out of our recession by making vast donations, then why not just do it, instead of getting your shorts in a bunch wanting to get a call from the PM etc.

I would suggest the burden of proof that an RV isn't going to happen is on you. When all the evidence suggest that Iraq is going to revalue (RV) its currency. How are you going to feel when this does pay off and you have to tell all those people who you persuaded not to invest in it that you were wrong? Actually, who cares how you feel, how are you going to explain you were wrong to someone that had some cash to spare to invest, and you persuaded them not to? Who are YOU to come in here and crap all over my hopes and dreams because you think its for my own good? I think you just need to be quiet. So first you quote CK offering why a huge RV can not happen. Secondly "all evidence suggest that Iraq is going to revalue (RV) its currency"? Really? How many articles have there been that mention 30T dinars becoming 30B? An RV can not accomplish that.The presumption or default case should I think be that they will do nothing out of the ordinary. A RV of the size contemplated (i.e. even to a dime) would be unprecedented in the history of the world so taking that as the assumed course for the purposes of debate seems rather one sided. An RD is also certainly not an ordinary event, but they have at least been done many times so its a well known and understood process. The burden of proof is on anyone making a claim of something out of the ordinary happening.