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nerd

Lopster
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  1. nerd

    To DinarThug

    Might we swim to the moon one day or is that impossible? does 2+2=4000 or 4? that is the sort of thing in play here. It isn't opinion its just arithmetic. If we talking about whether a currency will go up or down 0.1% against another, then sure no one knows (that's how currency traders make and lose money, one thinks it will go one way and one thinks it will go the other). An RV of 10% or 20% is very very unlikely but not impossible. An RV of 100,000% is impossible. Yea I flubbed the numbers there, I think many (including me) paid 1100-1200/M so that's more like a 20-30% spread compared to teh official 860/M price, not a 50% spread that someone I had in my head. Thanks for the correction.
  2. nerd

    To Quaddkidd1

    Thanks for the suggestion, I'm about to sign off for the night anyway. Do the GO-RV crowd EVER get reprimanded for hurling insults or is it only those that think an RV is impossible? That is the way it seems so far to me. I am not the one who was insulting and uncivil in the chat logs forum, but I am the one that gets sent to the corner. Oh well. Thanks (sincere or not I'll take all I can get right now! )Since I can not respond to Quad's post to me in place, what else am I supposed to do? and yes I AM a nice guy, I don't like to see people being taken, and that IS what is going on here whether you realize it or not.
  3. Quadd, just wanted to respond and could not do it in place. You said So here is how I see it We're standing on the corner with a group of folks waiting to cross the street. Up front near the curb a guy has his headphones in and is clearly having a great time listening to tunes enjoying the beautiful day. We both see him attempt to put a huge wad of $100s back into his pocket but he missis and instead the clip falls on the ground and bounces into the gutter where it is about to be swept down the storm drain. But, he is absorbed by the music and does not realize this has happened. I want to reach forward tug on the guys arm and say "hey man grab your cash you're about to lose it", you say "no no don't bother him he's having a good time dreaming". If you cash back now you likely will lose 15-20%, if you wait till the RD is in progress you will likely will lose 30-40%, if you wait till after 2013 (and still have IQD instead of NID) you have a good chance of losing everything. Based on the number of folks that are selling due to needing the money for house payments or medical bills etc, many people DID invest more than they can afford to lose. Is it the right thing to just stand by and let it happen? I don't think so. A 1000:1 or 100:1 or even a 10:1 RV is IMPOSSIBLE. Its possible though very unlikely that they will just leave the currency alone and not RD, but it is certain that they CAN NOT do a large overnight RV. A huge RV is a myth invented by the dealers to make money from those dreaming of a miracle.
  4. nerd

    To DinarThug

    I don't think you meant 1.32 since it hasn't been that high since 1990. In any case the key point is that it was not "devaluated" all in one shot as Thug claims (i.e. the opposite of an overnight RV). It went from .33 IQD to 1 USD in 1989 to 3000 IQD to 1 USD in 1995 eight years before the war. So that's over 5 or 6 years and was not due to the CBI/GOI/US/UN/whoever declaring it to be so but due to Saddam printing 10s of trillions of dinars and spending his reserves. That sucks for the Iraqi's but they would have time to adjust. Printing too many dinars is why the rate is what it is today, not do to some proclimation.
  5. nerd

    To DinarThug

    So (quoting Adam when I used the same phrase) you're only here to argue, I guess you should be restricted to LOPtalk! :lol: (just joking) First very few paid $25 for a 25000 IQD note. Most folks likely paid more like $35 or more (with fees, shipping, wire transfer charges, etc). When it LOPs, or if it doesn't the dealers will be happy to change your IQD for NID or back to dollars for yet another 50% spread so you are likely to lose at least 30-40% of your money. That is if you manage to exchange before the dealers pack up and leave town. If you wait till after that and still have IQD 2 or 3 years from now you very likely will lose everything as no one outside of Iraq will take it. Secondly, an RV of 1000:1 is IMPOSSIBLE. I know you and many want to think otherwise, but you have been conned.
  6. nerd

    To Adam

    Well you tell me Red, what should I think when the owner of the site INVITES opposing comments on his chat (after it is all over of course), and then when I do so without any name calling or insults and thank him for doing so, then I get insults heaped on me and the very person that invites me to comment then restricts me to the LOP forum. while those that were insulting go unscathed. Sure its Adam's site and he can do as he pleases, but that doesn't make it logical or reasonable. So what if I only joined two days ago, that doesn't mean I don't know a lot about the dinar.
  7. nerd

    To DinarThug

    What war? Saddam's invasion of Kuwait in 1990? Maybe (the black market rate might be more accurate here). The US invasion of Iraq in 2003? No way, it was already at 3000 IQD per dinar by 1995. From cbi.iq (and verifiable in other places) Thanks Bee, if only others were as reasonable.
  8. nerd

    To DinarThug

    I really don't get it. Please point out exactly where I was rude or hateful. Seriously, please show me. Compare that to Thug's post (in the chat logs forum), wasn't that rude? More importantly (if this site is actually about gaining knowledge on the dinar) his post is factually wrong passing on the classic RV myth that the dinar was "devalued" all at once. It never happened.
  9. nerd

    To Adam

    Thanks for the thought. When Adam said "have at it" was that code for "if you do so you get restricted to the LOPtank?" How was i supposed to have known that?
  10. nerd

    To Adam

    Perhaps so, my upset is largely due to the "setup" nature of it all. Adam claims to be open to debate, but it looks like (don't know if it is or not) that he is just more subtle about pumping.
  11. nerd

    To Adam

    Good grief Adam. YOU INVITE comment from folks that disagree with your chat by saying So I do so with complete respect and civility. I get nothing but abuse and insults without any substantive counter to the points I raised and then you restrict my ability to post in other forums? Had YOU not INVITED comment I would not have said a word in the chat forum. If you don't want comments from those with opposing view then DON"T ASK FOR THEM. What about all the folks that did nothing but hurl insults? So you're telling me that you have never heard the common debate phrase "for the sake of argument" where one temporally adopts a position they do not agree with to go on to a further point? "shove lop down people's throat"? How does offering reasoned arguments do that? I thought the purpose of this site was civil discussion of the dinar. Now it looks like it is instead only to pump the RV myth.
  12. nerd

    To DinarThug

    Since I can no longer post anywhere but here: First, what is with this every word starting with a capital deal? Second, can you not make your case without insults? Maybe you don't have a case to make in the first place. I mean why resrt to this nonsense if there are good arguments to support your position? Lastly it is absolutely false that the dinar was "devalued nearly a decade ago". Check the CBI history page, or any currency site that offers rate histories. The dinar was massively inflated between the late 80s and the mid/late 90s. For sure that would really be bad if you were holding cash over that whole period, but it was not overnight. Since it was slow people could easily adjust by just buying stuff they later would sell. That is a pain for sure but its doable. Sure Saddam did not care about the impact to his people, one might hope the current government cares a bit more. Plus doing a RV overnight would result in massive violence by the have-nots trying to take from the haves. That did not happen with the much much slower hyperinflation
  13. Same reason you are, its interesting or entertaining or something, right? I mean if you are sure it will RV and are not going to change your mind and sell early then why bother reading all this stuff, its not like if it RV's this site is the only way to find out about it. If you go to a site like the Motley Fool where there are forums on pretty much any stock anyone is interested in, such questions never come up. No one even asks if you are invested. As long as you are civil everyone shares their view and tries to learn something. Only in dinarland does this "why are you here" thing come up. So you can't answer any of the points I raised and are just going to insult me. Is that really how you want to represent yourself?
  14. First the dinar is not on a float, it is pegged. For a currency to float it must be actively traded so its value can be set by whatever others are willing to pay for it. Being a dirty float just means that the associated central bank intervenes in markets now and then by buying/selling currency/bonds to move their currency in the market the way they want. Iraq does not do this, it sets a value, i.e. a peg. When they wanted to adjust it a while back form 1189 to 1166 they did not work the markets, they just set a new peg. Nor is it undervalued. If it were the street price would be higher then the official rate but in fact its lower (in Iraq). Breitling does not know what he is talking about here.Yes I think M2 is 70T, actually now its more. And that is why I am no longer invested. I got about about a year ago once I did enough research to see that the whole RV think was just a dealer fabrication.
  15. So if the figures the CBI offers are wildly wrong (i.e. off by 100x) then so must the GOI's budget and so must be Iraq's GDP and so must be the amount of oil they are shipping and ... it just can't be true. There are too many external things that correctly tie in. Are all the buyers of Iraq's oil lying about how much they are buying? Is all of Iraq who are getting paid by the GOI lying about it? For the money supply to be 100x smaller than reported that would mean that there are basically NO dinars left on the streets of Iraq, but I have seen no reports from Iraq that say this. No one seems to have noticed this radical change. So I'm thinking it hasn't in fact happened.The dinar is also not on a float at all, it is pegged. I have seen no one offer any evidence that the money supply is going down, quite the contrary it looks to be (slowly) going up. Nor is there any evidence that other countries (as opposed to companies that are making some investments) have invested in dinar. No offense, but I think you have been pumped. No by the ECB. In the short term some more borrowing/printing indeed will be needed. But it was not the currency system that caused our current financial mess, but the fact that financial institutions were allowed to invent derivatives and everyone everywhere bought them. Don't know what you mean here.and you still have not answered my question: how would this new system work and why would Iraq be made the wealthiest nation on earth by the very same people who are in charge of the current system? got to run, but I'll be back later.
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