DaveD
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Everything posted by DaveD
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Pretty typical guru math. Off by 99,000%
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Someone might want to inform SWFlorida guy his math is off a bit. His new post in the rumor section he claims... "For Iraq to RV on par with the USD would be a 1,000% increase." He's only off by 99,000% If Iraq RVd to one penny. that would be a 1000% increase. A RV to $1 would be a 100,000% increase.
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Again... this has alreqdy been done abourt 100 times in recent history. The difference is a scam was run on this currency. People were led to believe the currency would RV 100,000% when there was never ever any chance or consideration of a big RV. You could make a point that the CBI was fully aware of the scam being run, and they did nothing about it. I guess you could biuld an ethical argument around that.
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No one has ever said it would be overnight. They have said a number of times the exchange period will last a year or so. Do you think the 100 or so other redenominations that have happened in recent history didn't happen like you described... with the exception of overnight. They all had an exchange period. Some as short as 3 days, some as long as years.
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Funny that you would pan someone elses grasp of history.. then proceed to use a currency that lopped as an example of what Iraq might do. The Deutsche Mark was introduced on Sunday, June 20, 1948 by Ludwig Erhard. The old Reichsmark and Rentenmark were exchanged for the new currency at a rate of DM 1 = RM 1 for the essential currency such as wages, payment of rents etc., and DM 1 = RM 10 for the remainder in private non-bank credit balances, with half frozen. Large amounts were exchanged for RM 10 to 65 pfennigs(that's a german penny).
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LOL… Term paper? It was written by this lady. http://www.unc.edu/~lmosley/ Layna Mosley Professor Department of Political Science University of North Carolina at Chapel Hill I study and teach international relations, international political economy, and comparative political economy. My current research projects include the effects of international capital mobility on government policy choices, the role of private sector actors in global financial regulation, and the relationship between labor rights and foreign direct investment My most recent book, Labor Rights and Multinational Production, was published by Cambridge University Press in 2011. She’s got nothing on Not-So-Breit or Krappy.
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I didn't tell you what to believe. I simply asked you what is it about the dinar that you do believe.
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If you think that just about every bit of known information about the dinar is a lie or fabrication... then what are basing your opinion about the dinar on? The ultimate tell of a currencies worth is how it is performing in the market. The dinar currenctly is sinking in street value. The CBI is doing everything they can to try and get the street rate back to the official 1166 rate and they are failing. How can that possibly be happening to a currency that is supposed to RV 100,000% in the near future according to all the dinar gurus. Sure to be worth $1 soon, currently trading for 1255 per dollar on the street. Doesn't quit make sense does it? Or do you think that's more lies... and the dinar is really trading at near $1 already and the media simply isn't reporting it?
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I find it hilarious that you use the term “Fab 5” to describe a few of the loppers. You must not have been around in the early days of the dinar. There was really only one popular forum back then. A group of guys started pumping rumors left and right. They were led by a guy named Clay75, I don’t recall the other names, but there were 5 of them. They got the nickname Fab 5 because everyone loved their crap. As it turned out. They got exposed as dinar dealers. They all disappeared immediately. I’m sure they just took on new names and probably are still amongst us today.
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I think Adam banished all this info to the basement so he and his gurus wouldn't have to answer to it. I do give him credit for a least allowing it to be spoken at all on his site.
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Here is a link for every central bank n the world. You can find the money supply numbers for every country there. I have checked the money supply for many of these countries. http://www.bis.org/cbanks.htm Guess that makes me a media ho. Here is a link to compare the GDP of every country in the world. https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html or http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) More media ho? Here the IMF explains currency reserves. It shows the pumper claim of oil in the ground backing the currency is nothing but fantasy. http://www.imf.org/external/np/mae/ferm/eng/index.htm Media lies? Here’s more IMF info on Currency Reserves. http://www.imf.org/external/np/pdr/debtres/index.htm I’m a mind numbed puppet… lol. Here is a University Study of all redenominations. http://www.unc.edu/~lmosley/APSA%202005.pdf propaganda I guess. Here is a document from the CBI that shows the money supply and exchange rate from 1991-2003. Shows they only had billions of dinar when they had a decent rate. http://www.cbi.iq/documents/Annual_2002f.pdf Jews probably forced them to report this. Here’s the history of the dinar during that period. Kinda smokes the pumper lies of some imaginary sudden devalue. Year.........M2............Exchange Rate ID/US$ 91.............24.6B.......10 92.............43.9B.......21 93.............86.4B.......74 94.............238.9B......458 95........….705.1B......1674 Iraq starts printing 250 dinar notes (1) 96........….960.5B......1170 97........….1.03T........1471 98.........…1.35T........1620 99.............1.48T........1972 00.............1.72T........1930 01.............2.15T........1929 02.............3.01T........1957 Iraq starts printing 10,000 dinar notes (2) 03.............3.78T........1459 (3) 1.Starting in 95, by the end of 02 Iraq had issued 2.4 Trillion dinars in the form of 250 dinar notes. 2. Starting in Aug 02, in 5 months Iraq issued 239 billion dinars in the form of 10,000 dinar notes. 3. Had gone up to 3500, went down 1459 because people started hording the currency because of the invasion, currency speculators. I put this info together in 2006: Highest Value Currencies Country, Rate, Money Supply (m2), $Value, GDP Kuwait, $3.46, 16 Billion, $55.4B, $52 Billion Malta, $3.15, 3.2 Billion, $10.1B, $8.1 Billion Bahrain, $2.66, 4.3 Billion, $11.4B, $17.7 Billion Oman, $2.60, 4.4 Billion, $11.4B, $43.8 Billion Cyprus, $2.33, 11.8 Billion, $27.5B, $17.8 Billion U.K., $1.98, 1.4 Trillion, $729B, $2 Trillion Latvia, $1.92, 5.6 Billion, $10.7B, $35.1 Billion Jordan, $1.41, 13.9 Billion, $19.6B, $28.9 Billion Cayman, Island, $1.23 5.1 billion, $6.3B, $1.9 Billion United States, $1 $7.2 Trillion, $7.2T, $13 Trillion Lowest Valued Currencies Country, Rate, Money Supply(m2), $Value, GDP Korea, 931, 1,800 Trillion, $1.93T, $1.18 Trillion Mongolia, 1163, 1.2 Trillion, $1.0B, $5.78 Billion Tanzania, 1247, 2.8 Trillion, $2.25B, $29.2 Billion Iraq, 1238, 20 Trillion, $16.2B, $88 Billion Lebanon, 1512, 80 Trillion, $52.9B, $21.4 Billion Uganda, 1692, 3 Trillion, $1.8B $52, Billion Colombia, 1935, 104 Trillion, $53.7B, $336 Billion Belarus, 2144, 16.5 Trillion, $7.7B, $80.7 Billion Venezuela, 2147, 66.5 Trillion, (05) $31B, $176 Billion Sierra Leone, 2935, 687 Billion, $.23B, $5.3 Billion Indonesia, 8839, 1,200 Trillion, $136B, $935 Billion Iran, 9252, 950 Trillion, $102B, $610 Billion Vietnam, 16075, 810 Trillion, $50.4B, $258 Billion Now compare the $value of the money supply to the countries GDP. Notice that… Korea (1.6 times) Lebanon (2.5 times) Kuwait (just barely more than) Malta (1.2 times) Cyprus (1.5 times) Cayman Island (3.3 times) Are the only countries on the list that have more money supply than they have GDP 2 are from the low list and 4 are from the high list. Most of the countries have a a money supply much much less than their GDP. If Iraq was to raise their exchange rate so that their money supply equaled their GDP, which would put them higher than all but 6 of the countries on these lists. The dinar would be valued at .0044 or 227 dinar per dollar. If Iraq was to revalue at 1:1 like some claim will happen, they would suddenly have a money supply 227 times higher than their GDP. That would put them SLIGTLY out of line with the rest of the world. Slightly obviously isn’t the word to best describe how out of line they would be. I don’t remember the media putting this info out. How could I have possibly come up with this? More Kuwait/Iraq numbers If Iraq was to revalue to $3.50 like Kuwait… with their current money supply of 20 trillion dinars, that would mean Iraq’s money supply would suddenly be worth 70 TRILLION DOLLARS with a 80 billion dollar GDP. The United States has about $7 trillion in money supply with a $13 trillion GDP. The Euro countries combined have about $7 trillion in money supply with about $12 trillion GDP. So a country with a whopping GDP of $80 billion would have a money supply 5 times more than the United States and the Euro countries all combined with their GDP of $14 Trillion… or better stated… a GDP 175 times higher than Iraq. 5 times more money… 175 times less GDP. This was all info I put together back in 2006. Tell me how the media did it. I await the reply with info that shows Iraq will RV.
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Maggie... when they issue the new currency, an Iraqi will give 1000 current dinar to get one new dinar. That new dinar will be worth 86 cents (almost a dollar). Current dinar worth $.00086 New dinar will be worth $.86 Exchange rate from current dinar to new dinar 1000:1 This is standard procedure and has been done dozens of times in similar situations as Iraq.
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I'll check back in later to see if any of you guys can take a stand on the original issue... are they still not talking about a lop, or is it a lop but a smokescreen? OR will you guys just continue to make yourselves feel better by belittling my existence here? I'm guessing I'll see much more of the latter.
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Chances of winning the lottery are about 1 in 50 million. Those odds are infinitely better than a big RV happening, because those odds are absolute zero.
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I guess that's category 3 for both of you. Stall until the gurus get their stories straight. Thanks for participating.
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I'm really looking forward to Not-So-Breitlings's and Kraperoni's response to the "take a thousand dinar for 1 dinar" statement. What category can we put you down for Caz, Easy? 1. You still say they aren't talking about a lop? Or 2. You say it is a lop, but it's a smokescreen? Or we could create a third category for you and others. 3. You need to wait for your favorite guru to tell you what to think?
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"It's not a lop, not a lop. Wait... SMOKESCREEN!" “pointing out that the current formed a cluster of large cash estimated at 30 trillion dinars.” “the simple thought of withdrawing, storing and destroying between 30 and 40 trillion dinars requires a serious study” “the new currency will enter circulation in the markets and will be taken a thousand dinars from the citizen for one dinar.” Just the last 24 hours or so, these statements have been made. The upstairs pumpers are really struggling to keep the troops in line. They seem to have switched tactics. They’re having a hard time convincing people they aren’t talking about a lop, so they are back to one of their old stand-by arguments every time something is stated they don’t like and can’t explain… it’s a SMOKESCREEN. From another board this is one pumper/guru’s explanation. PumperGuru: THAT DOES NOT SAY 1000 TO 1 PumperGuru: WHAT IT IS SAYING IS THAT AS NOW THE DINAR IS IN THOUSANDTHS RIGHT NOT LIKE THE USD IN ORDER TO BRING THE DINAR TO A 1 TO 1 PumperGuru: THEY WILL ELIMINATE THE THOUSANDTH YES THAT IS WHAT I AM REFERRING TO 1 DINAR WILL EQUAL 1 THOUSAND OF PAST SO I BELIEVE IF YOU DO THE MATH AND CONVERT PumperGuru:YES AND 1.17 DINARS WILL EQUAL 1 USD REMEMBER CONVERSION IS DONE OFF THE NOMINAL VALUE ALL CURRENCY IS BASED AND CONVERTED USING THE NOMINAL VALUE AGAINST THE USD WHICH IS .0009 APPRX SO THEY ARE SAYING IN A TECHNICAL WAY WHAT THE CONVERSION WILL BE AFTER ELIMINATING THE THOUSANDTH WHICH IS WHAT .000 NOW YOU HAVE .9 OR .86 LOL… this is too funny. The gurus really need to have a conference call and get their stories straight. Is this a smokescreen or is this a good thing?
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When all else fails.... Shout SMOKE SCREEN!!!
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Are Lopsters allowed to join VIP? What did you get for that 1+ year of VIP?
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The three currencies are the Chinese Yuan, Indian Rupee, and Canadian Dollar http://www.wallstreetdaily.com/wallstreet-research/reports/top-currencies-report.html They are also talking about a gradual apreciation over a year or two. Not a mythical overnight RV.
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If a dealer has the ability to get the dinar back into Iraq and exchange it, they could buy it for $600 or so per million and get $850 for it in Iraq. It would all depend on to what effort Iraq goes to block dinar from re-entering the country. If they make it tough, the dealers might not want to take the risk. But I gotta believe a guy like Ali wouldn't have to hard of time getting the dinar back into the country.
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People need to stop thinking about what a 25k or 10K or 50 note will change into. Think about the total amount of dinar you have. Denominations mean nothing. If an Iraqi has 1,783,450 dinar. He can walk into a bank and they will give him 1,783.45 new dinar in return. Doesn’t matter what denominations… just like when you go to a bank and cash a check. They might give you 100s or 20’s or 1s… it doesn’t matter as long as they give you the correct total amount. Notice that I said Iraqi. For people holding dinar in a shoe box in their closet half way around the world from Iraq... things wont be quit so easy. You will most likely be stuck with one option. Selling back to a dinar dealer. Maybe forced to take dollars because they wont have access to the new dinar. Certainly they will be forced to pay a huge exchnage fee either way.
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They don't have 65 trillion in circulation. They have about 34 Trillion in circulation according to the last reports from the CBI. Thay have a M2 of 73.6 Trillion. I keep hearing people say if they lop they wont have enough money. That's pretty silly. Just rough numbers... They currently have 70 Trillion dinar worth about $70 Billion If they lop they will have 70 Billion dinar worth about $70 Billion. It's the same amount. If they wont have enough after, then how have they survived the last eight years. If you compare Iraqs money supply with their GDP, (size of econopmy). Theyare right in line with all other countries in the world. If they did this mythical 100,000% RV people talk about. It would give Iraq a money supply to GDP ratio about 1000 times more than any other country in the world. It would be preposterous. But as the RVrs like to say. Nobody knows what the outcome might be. Yeah… I might be King Of The World next week too. You never know.
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It also kinda ignores the fact that they have told us a number of times that the rate will be near $1 and some have even been more specific and said 85 cents.
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I would say you must have missed this part, but since it was the first sentence in the link I’m guessing you just couldn’t comprehend the meaning. “North Korean central bank has revalued and is replacing the national currency as of 30 November 2009. With the exchange rate of 100:1”