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rockfl9

Lopster
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About rockfl9

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  1. rockfl9

    Let us have a THINK

    This so called "investment" Is a dream that a poor country that doesnt have enough income that it must BORROW to balance its budget, is going to GIVE AWAY millions of dollars to make them RICH . BUT they have no idea of why or when or how it will happen ... Does not look like a SOUND INVESTMENT to me. Following the babble of so called Gurus that they should know as LIARS.
  2. rockfl9

    Let us have a THINK

    At this time the GOI PROHIBITS IQD from legally leaving the country ! Iraqi's can leave with only 10,000 cash , dont know if it is checked on return. The reason is that they want to control the way the wealth leaving the country ..Importers with permission are allowed only the amount of dollars for the amount of goods they bring in. They can limit the amount of foreign currency available to a traveler by the exchanges at the cash window of a bank (i,e, they will check passport and ticket ) but there is no limit to the amount of IQD available so they have this restriction ( for law-abiding Iraqis ,of course). Of course WE know that the dealers here can get crisp uncirculated IQD somehow. Although it is called a PEGGED currency... don't take the word too seriously ... The exchange rates given are approximations. Since the IQD is not freely traded, It is just a tool ..You are correct it is only a show rate.. In fact if you do the calculation you will see that the reserves are well short of the necessary hard currency to justify the rate. The number is what it is to give the appearance of stability , but really the MOF is loosing money with every trade. .
  3. rockfl9

    Let us have a THINK

    A novel thought Mark .. let's give it a try , but a little at a time to prevent overload. Economics is the SCIENCE of the production, distribution and consumption of WEALTH. As a science it has rules ,standard definitions and values.. In a multinational world an exchange of wealth occurs when both parties agree on the value. If , in the case of the IQD the CBI says the value is .10 usd per IQD and the other party says it is only worth .001 ,then there is NO exchange. The IQD could well circulate within the country at the .10 rate but that is all. There is NO rule that the CBI can enforce its rate across national boundaries ! Now the IQD is in a fixed exchange rate regime . It has a certain amount of IQD in circulation supported by an amount of hard assets (reserves) to support its value . That determines the exchange rate for other world currencies IN IRAQ as those currencies can be exchanged for equivalent hard currency. If the CBI/MOF want to improve the exchange it MUST add to the reserves the adequate amount without increasing the IQD in circulation. That is the RULE. NOW could they just change the rate and not add to the reserves. Within the country YES, that is called CURRENCY INFLATION , many countries have to do it to survive (e.g. Venezuela, Egypt , Iran ) . Could they HIDE the fact that they are inflating the currency and no one would know .. VERY unlikely in todays world . The IMF ,BIS and UN have staffs that track the moves and accumulation of hard reserves almost on a daily basis . It would be easily discovered. Now the alternative would be to FLOAT the currency , that is to allow the rate to follow supply/demand. This would not make sense in the case of the IQD because there is no demand for IQD unless the CBI takes steps to cut supply which would only hurt the domestic economy. Enough for now !
  4. 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. THINK Every USD in circulation belongs to someone . There really isnt a pile of it waiting to fund an rv of the dinar. That means that some person would want to give up dollars to buy dinar instead of buying a stock , bond or some item. They would certainly not be interested in something Iraq has ..
  5. rockfl9

    IQD Fact sheet

    More facts The CBI is NOT buying up IQD and destroying it GURU POO to make you think the rate should be increasing ! The CBI site reports there are 45T plus dinar in circulation and it has been increasing. The high spending Maliki admin signed a lot of contracts based on "soft" loans , i.e. deferred payments comming due SOON. some were cancelled or postponed due to ISIS but even so there are payments for work started and cancellation charges due.. We dont know when but these payments willl have to show up in the budget at some time in the future. Of course they could refuse to pay but that would make investors think twice before doing future business. The cbi "auctions" are really just a gimmic to restrict who is allowed to buy USD. If they allowed all Iraqis to buy dollars they would all buy from the bank instead of the market ..
  6. rockfl9

    IQD Fact sheet

    I would like to see the HCL Passed and implimented ( Whatever that means ) So we all can see what the next excuse , I mean obstacle IS !
  7. rockfl9

    IQD Fact sheet

    Cranman.... TKS for the honest reply. You are sitting on a small profit but as you say it is $ you didnt need and can take the risk. There are many twists to come but in the end I do not think any US bank will ever take in IQD. IF they RD (loose 3 zeros) it will be a new currency code and that may be convertible but the conversion will be neutral. The problem will be to convert from IQD to the new currency, somehow it will have to be thru Iraq ! Iraq is a poor country in spite of the oil. Internal friction will continue to suppress any advancement to a modern democracy. BTW thank you for your service. Rock
  8. rockfl9

    IQD Fact sheet

    Cranman :??? To make an "investment " , then immediately write off as a loss without doing something about it is poor logic. Way back I have made a few stock buys without enough research (bad tip ) But always got out with only a small loss. Since then I have learned the lesson. Sometimes even with good research risk levels rise and it was best to get out of the trade. The lotto is not a sound retirement plan and I hope you are just "messing" with me again. While I have your attention , HOW did you learn about the dinar "investment in the first place ?? Where would the dollars come from? Did you expect to go to a bank and walk away with a bundle !!!
  9. rockfl9

    IQD Fact sheet

    Well if you dump your smalls now you might get more for them.. There are still some people who still believe that GURU POO.
  10. rockfl9

    IQD Fact sheet

    Redenominaion 101.. That crazy idea is back .. When a redenomination happens All of a counties currency is reduced by the SAME factor, no exceptions .. I this case the factor is 1000, 1000 IQD becomes 1, 500 becomes 0.5 , 250 becomes 0.25 etc If you paid more for the small notes as LOP insurance, you wasted your money. In fact, if there is any kind of recovery after an RD it is less likely these piles of TP will be accepted .
  11. rockfl9

    IQD Fact sheet

    SD, Thanks for the good points!
  12. rockfl9

    IQD Fact sheet

    CAZ, I dont know what more I can do ... I have been warning people here that they stand a good chance at loosing ALL that they have "invested " in IQD and should get out ASAP. The IQD they have will never be worth more than it is today. IF they LOP and we should all know by now that it is possible , the prospect of an RV goes out the window. The dealers will no longer buy IQD because they know no one would buy "old dinar". The only other alternative is that the CBI cant pull it off and simply more AND larger notes. and this goes on for another 15 years . But hopefully before then the hype winds down and Dinarians figure out what happened.
  13. rockfl9

    IQD Fact sheet

    I risk being accused of repeating the same ole shite but here goes "Where will the money (dollars) come from ???? The gurus want you to believe that when the CBI simply ups the rate the BANKS will jump in and offer to buy dinar at that rate with a little discount of course. THEN WHAT will the banks do with if the CBI isn't/can't buy it back? ?? Will they just trade it among themselves !! Every swap would be a money looser. The problem with that is that US banks cannot carry foreign currency as an asset ! It would be a drain on the balance sheet .Buying and getting stuck with IQD even for a few days would present a problem.
  14. rockfl9

    IQD Fact sheet

    I'm no expert Tex. But it doesnt take an expert to learn the rules , get the numbers and do the math. EC is correct , if the CBI raised the rate to a full 1/10th of a cent the result will be a drain on the reserves. The CBI will gradually slip into bankruptcy. It wont do that, it is financial suicide . Cryptos are IQD on STEROIDS, both are money loosing bets , but with cryptos you will loose much faster. BTC has lost 50% of its value in the last 3 months to buy now expecting a recovery is a sucker bet.
  15. rockfl9

    IQD Fact sheet

    THINK ! At 10 cents per dinar , one mil would cost $100,000. No one would buy at that price .. If no one would buy then no one can sell ! It does not matter what price the CBI may set for Iraq , in the international market , if it were to exist , would set its own price based on demand.
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