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rockfl9

Lopster
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About rockfl9

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  1. rockfl9

    IQD Fact sheet

    Undervalued ??? WHY dont they fix that ??? USING CURRENT numbers the REAL conversion rate should be .000726. They need to put another 6 B usd in reserves to bring it up to .000860 ! The CBI is allowed to do this to keep inflation low and give the appearance of monetary stability. Definitely the IMF would not allow an RV unless supported by sufficient reserves. The $2.6 rate was 3 wars ago and we dont know that it ever traded at that rate outside of Iraq. In 2003 the IQD was released as a totally new currency and refunded, all ties to any previous Iraqi dinar were broken. The gurus wont tell you that. The IQD does not have any true value outside of Iraq thus it is impossible to use as a peg! AGREE that it is unwise ( I am being kind here ) to put ANY more into the IQD. The CBI has only two choices , keep printing the same series of notes OR LOP . In either case there is no profit. In fact, IF they lop you may loose everything. The dealers will not buy back the old dinar and there would not be any incentive to sell the new dinar. Can you imagine the cost of shipping tons of old dinar back to Iraq where it is likely to be impounded at the border ? There is a talk about the need to increase the value to attract investors, not so , investment will be done in dollars.
  2. rockfl9

    IQD Fact sheet

    I hope this would be a counter thread to the RUMORS topic. FACTS ONLY. !. The IQD is a FIXED EXchange rate currency . That is Its value is backed by Hard currency reserves at a stated rate, Thus to increase the value the reserves must increase at the same ratio. SO to double the value the reserves MUST double. There are currently 45T IQD issued ( the CBI says so ). 88 Ttrillion IQD value in M2. The CBI claims 60 billion USD is the value of the reserves.. 2. The IQD is classified as a NON-convertible currency , Its value is within Iraq only . Intended for use only within Iraq . 3. The MOF has a Stand-by Agreement with the IMF. ITs operation (including the CBI) is monitored by the IMF and reviewed every 6 months. Thus the accounting at the MOF level is transparent and accurate. 4. OIL sales are revenue to the MOF and are not connected to the CBI reserves The MOF thru the GOI budgets spend nearly ALL of the oil income. Currently oil and gas revenues are aprox. 80 billion USD.,.. 5. When the current dinar (IQD) was issued in 2003 ALL reference to previous dinar was severed . There is no connection to the mythical 3:1 dinar. That's it for now , I am sure there is more.
  3. rockfl9

    Let us have a THINK

    Back to having a THINK! IF an overnight RV of $0.10 would be a benefit to Iraq WHY havent they done it ? They wont because simple math should show that The economy could not take the shock. Everything Iraq imports must be paid in hard currency. (dollars, euros).Th e prices would have to increase 100X or importers would be out of business in a day.. The CBI reserves would also be depleted. No matter what they do internally the oil revenue dollars would be the same amount. The GDP in dollars remains the same. There would not be a real increase in purchasing power for the Iraqi citizen ! The purchase of a mil dinar would be $100,000 ! WHO would be crazy enough to risk that amount.,
  4. rockfl9

    Where's the money going to come from???/

    Some Dinarians believe that they RESCUED the CBI by LOANING it USD and should be rewarded. Not the case. Actually they siphoned off Dinar from the local market forcing the CBI to have to print more dinar to supply the iraqi economy. That was an unneeded expense to the CBI . The thing you need to consider is will they ever buy it back at any rate?
  5. rockfl9

    Let us have a THINK

    The solution is to get the government to live within it's means. Raise taxes and get to a balanced budget . That would be a hard pill to swallow.
  6. rockfl9

    Where's the money going to come from???/

    Hmmmmm, I sense some doubt ! Floridian, IF you want to understand lifting/removing the zeros just look at Turkey or Venezuela .. It is simple take a 25000 note and replace it with ONE new 25 note with the same purchasing power (value). Been done dozens of times before. THe thing the CBI is proposing is NOT to do it all at one time , THis is a new approach. For merchants it would mean mixing the notes in the cash drawer. For banks an extra sorting operation. But no one gains or looses. Chalk it up to experience.
  7. rockfl9

    Where's the money going to come from???/

    I think it will be a while. They just went thru the trouble to print more of the 3 zero notes to buy more time... We have sen this before they let the old notes get too worn expecting to be able to RD but they cant get the support from the GOI. So they print more of the old with minor changes.
  8. rockfl9

    Where's the money going to come from???/

    I knew that. The IQD is not worthless in Iraq ., So far all Iraq has is oil and gas , it doesn't even produce enough food to feed the people without importing 90%. Inside Iraq the dinar is doing OK. The only problem is that the smalls wear out quickly and are expensive to print. An RD and coins will solve that problem and they know that. The concern dinarians should have is if they do RD how will they get ANYTHING for their dinar !! i.e. Will the dealers still be in business?
  9. rockfl9

    Where's the money going to come from???/

    You are welcome Floridian... With the sell off yesterday there are some goodies that I believe got caught in the downdraft .. I have picked up a few this AM. But learning from your experience with the dinar I am going to suggest that you only invest in something YOU understand . OR as AM suggests consult professional advice. I would share my picks BUT I am not a professional. I don't think you will sell any dinar. You will hold on till the crash .. THEN maybe you will remember Ole ROCKFL .. Yeah I live in Florida too, Almost 40 years now.
  10. rockfl9

    Where's the money going to come from???/

    As I said earlier this speculation (con game) is a theater of the ABSURD.. I am amazed at the number of people who really believe that they will become rich in this thing ! Don't you see that the GURUS ( likely supported by dealers ) are stirring the pot over and over to keep up the hype and of course create more dinar sales .. RV next week over and over but no RV, RI. The expectation of becoming rich with such a meager investment is mesmerizing. The trillions of dollars this mythical RV would require dont exist and cant appear out of thin air.
  11. rockfl9

    Where's the money going to come from???/

    SD is close.. 80 trillion dinar at 10 cents per dinar is $8 trillion USD! The CBI has about $55 Billion in reserves . Simple accounting says they would be BANKRUPT ... WHY would they even THINK of doing it? THE GURUS are trying to put out the line that the CBI could simply SET the rate it wants , then DECLARE the dinar Internationally trade-able . The rate would show up on FOREX , Then BOOM the banks would start buying dinar and it would not cost the CBI anything... HOGWASH That is NOT the way it works . FOREX is a supply/demand based trade .. A 10 cent rate would require a large number of BUYERS at that rate and the CBI would have to be one of them. WHY would they pay 10 cents per dinar when they can print a 50K note for 6 cents. The psychology of this speculation is a theater of the ABSURD. Greed run amok is an essential feature of every speculative boom in history . In the frenzy for money, players ignore logic for the dubious but thrilling assumption that they will get rich. A player will believe anything.
  12. rockfl9

    Where's the money going to come from???/

    Pacman csn't read charts correctly, the number is 61 THOUSAND-BILLIONS that is equal to 61 TRILLION. But that has noting to do with the current or future value of the dinar. Such exaggerations , maybe he is training for the presidency. CAZ, how would I get to them before they buy dinar? Usually they get the " get rich overnite , if you buy right now" line. Then they wait 3-4 weeks to try to find out what happened !
  13. rockfl9

    Where's the money going to come from???/

    Not to argue, just a difference of opinion. You have yours. IF your basic question Is why am I here I have answered it . I am here to expose people to the TRUTH. Why would I need to have skin in the game as you say IF I am sure there will NOT be a revalue ( positive that is ) of the dinar,and just want people to know it. A re denomination is possible in any currency with inflated numbers. So is a devaluation. There are 50 Trillion physical dinar and 88 Trillion in M2 , the cbi admits that .. The CBI MUST be able to back at least a major portion of that amount in real reserves. They are barely able to do that at the current rate. CAZ, I sense that you are really a smart fellow and Know all this . I think you have an ulterior motive to see that the RV myth goes ON and ON and ON.
  14. rockfl9

    Let us have a THINK

    As of June 2018 M2 was 88,362,883,000,000 Dinar.... with $55.5 B in reserves , puts the real exchange rate at .00062, EC is correct it is not unusual to cover ALL M2 . Unlike cash where the central bank KNOWS well how much it has issued The financial items included in M2 are too complex and dynamic to be accurately measured.
  15. rockfl9

    Where's the money going to come from???/

    On the advice of my finance instructor of many years ago I will never "invest " in currency. It is a losers game. I am here because some mod thought i am a lopster .. But really I think the present CBI cant put that plan together. Shabibi was going to and i think that is the reason he was booted. So I think they will do nothing for a few more years. You will just have to wait and see CAZ i havent given up on the book,movie/play .. You must agree that NOTHING has happened in the last two years to be able to add anything to the story .. Again I ask " Where will the money come from ?." Everyone ignores that Q but it is the most important one. Everyone just expects to go to a BANK. But where will the banks get it ?
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