lotsofdinar

Well, Biden is supposedly going to be in Iraq tomorrow leading a deligation, maybe he'll bring the RV with him?! Oh, wait. Biden will actually be at the Railroad Museum in Wisconsin tomorrow. Even the Iraqi's are pumping these days. lol

The investment group I'm a part of invested in the Dinar because we looked at their natural resources and felt that over the next decade the country would become prosperous and we would make some money as the exchange rate slowly increased. The Saudi's currency is worth what it is for that very reason. They now have reserves of over $500 billion. I had never heard that anyone expected a huge RV until after we invested and I started reading some forums on the Internet. So I just don't buy into that belief. But it is important that they either RD, or confirm they are going to do nothing at all, because it will give needed stability to the currency and will allow that slow increase in value to occur over time. Stability is the most important thing for future growth in Iraq, and the unknown kills stability. I understand that this forum is a business, and that the owner has a financial incentive to promote a pro-RV atmosphere here. My group believes, though, that Iraq is an excellent long term hold without consideration of an RV, so I think a lot of people will ultimately miss out on a good investment if Iraq doesn't RV and they unload their Dinar. All the big RV hype is obscuring what we believe to be an excellent investment.

The articles say what they say. The so called "lopsters" take them at face value, the RV'ers try to find coded meanings "between the lines." Who is more likely to be creating misinformation?

Should there be an RD, I think it would be really interesting to see the folks on this forum then discuss what "went wrong" with all the big RV theories. Sadly, though, I suspect that within 24 hours of a confirmed RD, this forum would no longer exist, the financial incentive in maintaining it being gone. It would be an interesting discussion, though.

Yes, the same people who said the CBI would NEVER give a hint about an RV before it happened now insist that every "remove the zeros" article that comes out is saying they are going to RV immediately. Makes no sense. Seems a little desperate.

Stryker is a True Believer, and no number of facts will change his belief. One day soon, though, his theology will no longer fit his life situation. Undeterred, he'll move on to yet another dream. That's the nature of true believers. pocono, and it is strange that these newly rehabilitated "lop" articles, after being declared "RV" articles, are eventually banished to this Lop Dungeon, along with those of us declared "dangerously subversive".

that makes absolutely no sense because the CBi has said continuously that they will indeed raise the value of the dinar and talked about being at par to the us dollar how does that fit into your scenario of them doing nothing makes no sense what so ever." Why would you believe anything the CBI says? I thought it was all smoke and mirrors.

I'm not sure what is left to say in the debate: RV vs RD. I would like to say that we will soon know who is right, but I suspect that, even if there were an RD exactly as the CBI has been saying, those who believe in an RV would still be here still expecting a 100,000x RV any minute. Or they would simply deny that the RD actually happened and continue holding their worthless old Dinar, secure in the belief that an RV was still "Tuesday, Wednesday, Thursday." The RV is a faith based religion, I'm afraid. I think it more likely, knowing the Iraqi government's history, that they will simply do nothing, shuffling along just as they are for the next decade or so. And still talking about an RD.

Three zeroes on Iraqi currency won't be removed: source Bronx on Thu Apr 01, 2010 8:59 am Three zeroes on Iraqi currency won't be removed: source Thursday, April 1st 2010 2:45 PM Thursday, April 1st 2010 2:45 PM Baghdad, April 1 (AKnews) - Iraq's central bank denied on Thursday the reports that talked about its decision to cancel three zeroes from the Iraqi currencey. The central bank will not cancel three zeroes from the Iraqi currency at this time to reduce inflation suffered by the Iraqi economy .... Canceling the zeroes will make things more complicated and would cost the state large sums of money and enormous economic cadres to implement this project. "The head of the Central Bank Sinan Al-Shabibi told the Independent National News Agency of Kurdistan (AKnews This won't be applied at our current time. The central bank and Finance ministry will adopt rational solutions to reduce inflation that Iraq is suffering from currently because some important governmental institutions misused the money," Al-Shabibi added. "Removing the zeros from the currency will reduce the level of the Iraqi dinar in accordance with the American dollar." Many members of the parliamentary Economic Commission urged the Central Bank and the Finance Ministry to address the Iraqi decreasing funds by remiving the three zeroes from the Iraqi currency. http://translate.google.com/translate?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/2/70037/&prev=_t&rurlhttp://www.comcast.net/

Do you think the U.S. could politically or economically go back into Iraq in any substantial military way again? I think that would be VERY difficult.

The dinar is only undervalued because it was overprinted.

dinarck, exactly. Makes no sense at all. There is a belief that just because you say your currency is worth something, other countries have to accept it at that.

Sonny, it's just the logical conclusion of your argument that the dinar can back itself. If you can RV paper with paper to back it, what difference does it make how much paper you have? I don't think anyone would accept your RV'ed paper, but good luck with that.

If I were the CBI, and knew that the currency I had in my control would become worth trillions of dollars after an RV, I think I would print up another 60 trillion dinar before I RV'ed and just hang onto it.

So you didn't say the dinar would back the dinar?

Sonny has stated a number of times that it will be the dinar that backs the dinar after an RV.

Sonny, nice red herring.

But I'm not an RDer. I don't think it will RD or RV. I've repeatedly said, I think they will keep it the same as it has been, and the currency will gradually increase in value over the next 10 years or so as Iraq becomes more stable and more prosperous. I think you missed my point, again. Would Adam have continued to maintain this forum if there were no money to be made here from folk's belief that a big RV is imminent?

Freedom of speech, huh? lol I'm not allowed to post anywhere but in the Lop section. But, to my point, do you think this forum would still exist if there were not money to be made from promoting an RV? "Go RV" is a successful business model.

Well, Sonny, you can't make much money promoting "Go RD," thus no abundance of internet forums promoting it. I would say the "hype level" for an RD is pretty low as a result.

"Go RV" has been a business model for a lot of folks, from MSBs to forums and websites for years. Had it not been, not even the site we are posting on would exist. It has certainly worked as a business model for a lot of folks. Unfortunately, it has also created a tremendous amount of useless hype.

There are several problems with an RV scenario. Even at 1:1. First, as has been pointed out, within Iraq, an RV would be a neutral event. A dinar is a dinar in Iraq, and everything would adjust (or incredible inflation would result). Secondly, a 1000x RV would make it 1000x more expensive for companies outside of Iraq to do business there, something no developing economy would do to itself. It would also make Iraq's eventual exports 1000x more expensive. And of course, since the idea seems to be that Iraq will pay for the RV with oil over time, we have to consider that because only a small part of the oil that fuels the world comes from Iraq, that oil will continue to be sold in dollars, so a 1000x RV of the Dinar essentially devalues the asset they are going to use to pay for the RV 1000x relative to their currency. So they would actually need 1000x more oil to pay for that 1000x RV (a problem that results because of the trillions of dinar that exist). A drop three zeros RD reduces the currency 1000x, is value neutral, doesn't make it more expensive for folks in the US to do business there, retains the value of the oil in reference to their currency, and puts them on solid footing for the dinar to increase in value as they prosper over the next decade or two. Let me add that, as I've said before, I do not think that at this point that they will RV or RD. Whether or not Shabs has the ultimate say in this, there is resistance from within the GOI and without to the idea of an RD, perhaps enough to delay an RD indefinitely. I think they will simply do nothing, leaving the currency where it is until the country is much more stable and prosperous.

Actually, an RD would make the currency more respected. It's worth almost nothing right now because there are trillions of dinar in existence and only billions of dollars in reserve to back it up. An RD would resolve that imbalance. It's pretty simple, really. And likely the best thing for Iraq over the long term. Not so good for folks who expected to hit the lottery by buying dinar, though. It's a lot easier to believe that Iraq is going to do what dozens of countries have done before in RDing their currency than to do what never has been done before and RVing it a 1,000 times. It's also easier to believe that the CBI is going to do what they say they are going to do, RD, than believe what they have never said they are going to do.

You would think that, if many folks here really believed as they say that a huge RV is coming soon, they would be glad to buy your dinar for $1,200/M. What's a few hundred dollars one way or another if you are going to make at least a million dollars on it post RV?

Dinarck, I've been posting on forums since the Compuserve and IRQ days of the late '70's, early '80's. There is always a small clique who consolidate power and ultimately run folks off who aren't like themselves. It's the nature of forums. It even happens over at GLP, the most dysfunctional forum out there! lol