dvforumuser

Read it again. It "embeds" a GPS or CLONASS position into the distress message. So just as I said, the beacon uses GPS (which is one way sat to receiver (other than maintenance commands of course as the orbits need constant tweaking), and the beacon computes its position and embeds that into its message that it sends to the distress satellites (different from GPS) that are the other way, beacon to satellite (then satellite to main ground station).

Who do you think is developing new technology? Scientists and engineers like me. I was in fact just starting to play with computers 40 years ago and know very well what that technology was all about and how it changed over the years, I've been one of the people making those changes. Give it up, you don't stand a chance.

The satellites that pick up rescue beacons are also different from both GPS and sat phones. Here its completely the other way, the beacon only transmits to the satellite and it relays that message. The more advanced beacons (most today I'd guess) first get their position from GPS, then send that up with the distress message (rather like a 911 cell phone call). I don't know what your field of expertise is Randalln, but mine is technology and clearly yours is not. Stop embarrassing yourself.

Huh? The GPS system is composed of ~26 satellites (I don't know the exact current number). I don't know what you mean by "attached too". You don't have a GPS sat phone. The sat phone network is a different set of satellites that of course send and receive data, but do not generate GPS location messages. You could have a sat phone that also had a GPS receiver in it, though I am not familiar with such a product.

I thought that was a nana-byte!

Total nonsense. You obviously have no understanding of how GPS works, or just radio for that matter, or what technology is used (nor do I know what a nana-bit is).

There is no data upload via the GPS network. Receivers only listen for messages broadcast from the satellites. Sort of. There is no technology to "make it say anything". So much infrastructure depends on GPS now that even turning Selective Availability back on (that dithers the timestamps to non-encoded receivers to make the receiver less accurate) would likely be a huge blow to our economy. There are also is a Russian system operating (CLONASS) and an EU one being deployed (operational in 2020, Galileo) and a Chinese system (Compass) also scheduled to be operational in 2020. All of which are global by nature so anyone can use them if you have a compatible receiver. Mutli-system receives will be available as well no doubt. Rather a waste that we could not have cooperated via the UN or something to share resources. So turning ours off would really only hurt us.

I don't think there is any action to take against the likes of Oakie and Co. They have lied so many times that anyone who looks at all objectively at what they say knows this and they also must know this, i.e. they are clearly just making stuff up. They have no "sources", in fact unless you are Shabibi's wife, and maybe not then, there are no sources. None of the Gurus will respond to any sort of demands. The only thing to do is not visit their sites People buy into these things for the same reason they buy lottery tickets. They want the dream of riches. At least the the lotto ticket its only a few bucks, but for this it can be much more of course. I drank the Koolaid myself when I bought in, then woke up and realized I had been really stupid. The antidote for Oakie is to show people they have a shot at major success if they work hard, plan, network, educate themselves, and invest carefully. But the siren call of mega wealth for nothing likely always will remain.

Without knowing if that was the real exchange rate (i.e. is there active exchange at that level or is it just claimed but no one is doing so), how big the money supply was, Iraq's GDP, foreign reserves etc. just the rate doesn't tell us much. In 2010 dollars, oil was about $20/barrel in the late 40's. Iraq was a founding member of OPEC and the Presidency is an entirely ceremonial position that rotates every year amongst members in alphabetical order. Iraq took over from Iran, Libya will be next year followed by Nigeria etc.

Thanks, and I won't be kicking myself as it is not going to RV to $1, its simply impossible. So since the max return at this point is 10-30% and even that is very unlikely, it made sense to sell off at $1000/M while I could. In the coming months I don't expect that you will even be able to get that. Good luck to you as well!

A lot of articles (e.g. wiki ) talk about foreign exchange reserves held at central banks, which would be the Fed for the US, not the Treasury.But this UST page would seem to indicate that foreign reserves are held at there. But this from the fed seems to say they hold it Ok, I'm officially confused. I think we can be sure that its at least one, or the other, or both!

This site is more tolerant than some, but still opinions in the Opinion & Perspective section must all be that we will be overnight millionaires. If you opinion is that an RD will happen, then your post will be relegated to the LOP Talk section, and this thread has already been moved there.

I think I get this now. It has to be from your paypal balance, and tagged as a gift. So you first have to transfer money from your linked checking account to your paypal account (which can take a couple of days), then make the gift and there should be no charge. Doing an "instant payment" directly from your checking account via paypal does not appear to be the same as paying from from your paypal balance. Likely due to them making a little interest on the couple of days they take to do the transfer.

The problem with this deal is that everyone makes out except Iraq. they end up selling their oil for 1/1000th its actual worth if they sell it after an RV for dinars bought before an RV (and its a 1000x RV). Selling dinars for less then 1/10 of a penny and them buying them back for $1 is a huge loss. Passing that transaction through oil instead of a direct dollar / dinar exchange doesn't change that. Also when you cash in its the Federal Reserve that ends up with the dinars, not the UST.

You could always decline to read what I post, or put me on ignore to foster your Koolaid colored view of the world.

I thought this was the case as well but, recently was sending someone some money (non dinar related) and could not manage to find any combination of options that did not have a fee. So maybe I just didn't have the right settings or maybe there is a maximum amount or something.

I like trying to get folks to think about things rationally, I changed my mind on this once I woke up from the Koolaid haze, perhaps others will as well. Or I might just forget it all. I really don't know. I suspect my interest will be reduced, but might not go to zero. Good luck to you too!

Sure, but I would expect "an official one from the CBI", and I don't think that has started yet. As far as internet usage, the World Bank estimates its up to 2.5% of the population. So in fact very few citizens "are privy to having the technology to receive news via the internet". Because we know all the money they have earned from oil and we know what they have spent. Might there be $10B somewhere we don't know about, sure. But not $1T we don't know about. That much money just has not passed into Iraq so they can not possible have saved it somewhere secret. Sure, they might not execute an RD. However we know they CAN NOT execute a substantial RV, and country's whose currency is suffering from the effects of past hyperinfaltion typical execute an RD. Your "can not really be disproven or proven" is just you clutching at straws. It CAN be proven that Iraq can not execute a huge RV. Even if they RV up to an even dollar or a bit above in conjunction with an RD, you still likely will loose money with the bank spreads since at that point no one will be buying. And "if" I had 2.5M to sell? Again now instead of just answering any of the clear issues, you now want to disparage my character and claim I am being dishonest and that I am bitter. These are all classic defense mechanisms when you know your position is indefensible. I actually did just today sell my last 2.5M, it took several weeks to get my price ($1100 on e-bay) as the market is already getting quite thin and people are selling for as low as 950. I may continue to post even now that I don't own any dinar as I find it enjoyable to try and get people to think about things rationally. Or I might not, have to see what appeals to me going forward. Applying your own "logic", why are YOU here spending all this time defending your investment? Why not just be happy about your riches to come and ignore this site entirely? Indeed you would have been far better off to buy Apple stock instead of Dinars.

My last 2.5M has been sold. All totaled I sold 10M here (for $1000/M via cashiers check with me paying shipping) and 15M on e-bay (for $1100/M via paypal with buyers paying about 40% of shipping I'd estimate).

The answer is of course that they can not do it. The 30T dinars you speak of is only M1, M2 is more than double that. Even if their money supply was only 1/10th the figure you state at 3T, or even only 1T, they still could not RV to 1 IQD to 1 USD. They only have $60 B or so in reserves and their GDP is only say $100B or so. Even if those figures are off by 2x, it still doesn't matter. Most countries in the world have an M2 as a percentage of GDP that is below 100% For a few its larger, but no county has an M2 that is remotely close to ~50,000% of GDP which would be the result of a 1:1 RV (i.e. M2 is 72B USD and GDP is 120 or so, call it 150 to be generous so now M2 is ~50% of GDP, x 1000 is 50,000%). Why do we see this limit? Because that is fundamental to how an economy works. The "delete the 3 zeros" is an RD, that is what Iraq will do. We lose. If you want to hold your dinars for 10 years, or cash them in for new-dinars you might make some profit over the years, but no way no how 1000x returns. I think you will be lucky to get $1000/M once the RD is in full swing since at that point who will be buying? You might only get $700 (i.e. lower than the CBI rate).

Media articles are not what I think the "education campaign" will be. I would think they would state clearly what the new currency will be, pictures etc. That has not happened yet. Yes we do know. We know how much money Iraq has received from oil sales, we know how much they have spent in their budgets. There isn't a trillion dollars left over. The fact that some other countries have funds of this type or size in no way implies that Iraq has one. Given their cash flow, Iraq CAN NOT have one. The money simply doesn't exist. The only solution in general? of course not. They could do all kinds of things and they don't have to do anything with their currency. But they have declared loudly and repeatedly that they are going to do something. They are going to "delete the three zeros". So there IS a 1000x (3 zeros) change coming. The only 1000x change that is possible is an RD. This is not any sort of argument against the points I make, it just a last ditch effort by you when you have no argument. I have in fact sold all but 2.5M and I'm still trying to sell that.

Well yes and no. Sure we don't know exactly what the CBI is going to do. But we don't have to know. If you look at other countries, whether they peg or float their currency, M2 as a % of GDP is in a range from around 30%, with most under 100%, to a few in at over 100 (China is at 166%) and a couple get up in the low 200s. No country is remotely close to 100,000% which is what Iraq would get with a RV at 1:1. Why is that? Its because of the basics of how economies work. That isn't going to change no matter what the CBI does. I'm not sure that the education campaign has even started yet. The whole "if X was going to happen it would have happened" is not logical. You do not know just what is or is not required in Iraq to get this done so there is no way you can say if it were going to RD it would have been done. I would guess that its simply very difficult to keep inflation in check in a growing economy, especially one in war recovery mode. But its enough. It fits their GDP. They exist in OTHER countries. Norway has been putting away a portion of their oil revenue's in a national fund for 45 years. There is no way the CBI has some massive hidden accounts. There just is no source of the funds. We know how much oil they sell and have sold throughout their entire history. There is no $600B stash let alone a $60T stash (several times larger then the US M2 I might add). Sure bonds are a way to raise funds, but the riskier the bond the higher the interest they will have to offer to attract buyers. Burdening yourself with a big debt (and it would have to be huge to make a substantial difference here) is a very dangerous thing. Compound interest works both ways as the US is currently experiencing. Further if they are going to go into debt, why use it to RV? Why make investors rich when they could instead just spend the money on their people? (build roads and schools and hospitals and make zero interest business loans and on and on). Well an open mind is a good thing, as long as its not so open your brains run out! . I think your "anything can happen" is just not reality. The value of a country's money supply and the value of its GDP are related. There is simply no way they can get out of whack by 1000x and have the economy still function and for those new values to be sustained the economy has to function. i.e. it just can't happen. Its like saying well maybe gravity will reverse tomorrow, its more far fetched than winning the MegaMillions lotto! (as that actually IS possible).

No offense taken. I think pretty much every aspect of the RD Vs RV debate has been discussed, and the RV loses every time. If you think you have something new to bring to the party then step up and make your case. Some things in macroeconomics are quite complicated and unpredictable. But as BigFrankD points out, the impossibility of increasing a country's money supply to a 1000x its GDP merely by declaration, is not one of them.

Eventually dinars that are exchanged, whether in Iraq for imports, or in other countries by speculators, find their way back to the CBI where they will need to be backed by some foreign reserve currency. It could be dollars or Euros or Swiss Francs, but the CBI mostly has dollars, roughly $60B of them that back the 72T dinars out in the world at the 1166 exchange rate. If you want to increase the rate by 1000x, then you need a proportional increase in their foreign reserves, and they don't have it. Seems pretty simple. So say the pumpers, the CBI claims the currency continues to grow. The CBI has nothing to gain and everything to lose by releasing fraudulent data. The pumpers have everything to gain and nothing to lose by telling you lies. So I'm thinking CBI numbers are roughly correct.

I sure don't see how, or any indication that they have been trying to reduce it at all. Its getting bigger not smaller.