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About gainesm

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  • Birthday February 23

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    Fishing, reading, and dreaming about the Dinar RV.

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  1. This other article helps explain why - I'm guessing it's still a matter of questionable legality of the contracts. That's a lot of money to pump into the development of those oil fields when the legality of the contract might be on shaky ground. Source:
  2. Anyone know which phrases in Arabic are being used to say "delete the zeros" vs. (what some claim should be better translated as) "remove from circulation" in the mass of articles talking about the project to remove the zeros? Mostly those articles start the RD/LOP vs. RV arguments and I keep seeing rebuttals about how the phrase is being translated incorrectly. Seems to me, that if it is wrong, then that's a pretty monumental translation error. Anyone know which phrase is in question?
  3. I will ask again - can anyone provide the actual Arabic phrase that is allegedly being mistranslated so that instead of "delete the zeros" it should be more like "remove from circulation"?
  4. Not only that - it will be breaking news all over the world - on every news station and news website. We might wake up bleary-eyed to a text from Adam, or an email from someone else, but when this hits it isn't going to be a secret.
  5. I really want to do that, but can't figure out how to open a bank account over there to start the process. Everything I've read says that Warka isn't doing this anymore.
  6. I am interested in hearing more about this. What is the arabic word/phrase being used to describe this? I'm hoping this is a correct contextual interpretation because that puts to rest any discussion of a RD/LOP - and makes it become much more focused on a RV. I can live with that - especially if it's going to be sometime in the next 2 years.
  7. I'm liking the word "reset" he's used here...I just don't know if that was a translation choice or not. If it was, then I don't know that he's talking about the RV we are hoping to see. If it was not, however, then I think this is the first time I've heard anyone say anything even close to acknowledging an actual reset to pre-Saddam levels. That is a bit less ambiguous. I know some people believe this is talking about removing the large bills from circulation, but the phrasing used here - and then expounded upon in the next statements - might as well be a blinking neon sign for a R
  8. I love thinking something like this has happened, however, I just am not able to do so. The nature - and sheer magnitude - of such an event would not be unreported around the world. That someone sent an email detailing out what they "saw", rather than a link or a video of the news footage itself, is problematic. It shall remain so until one of two things occur - either we start seeing the actual footage and news reports pop up on legitimate news sites, or we see the RV on July 10th. But thank you for sharing, anyway. It's always nice to have a reason to be hopefully optimistic.
  9. To the point of your post - Most English-speaking people have a very difficult time learning languages that differ greatly from the Latin-alphabet. To the tone of your post - It is unnecessary, and inflammatory, to take a swipe like that toward anyone. Please do not do so again.
  10. Sort of...right now Iraq still imports most of what they need, and those imports are wicked expensive due to the low value of the IQD. Letting the exchange rate rise will make it a bit cheaper to import, but it will also make exporting less lucrative. As their wealth is nearly entirely dependent upon exporting oil, this means they will be hurt by the rising IQD more than they will benefit from it. Short-term spikes in the exchange rate will be very beneficial for them - and may help them in building out a stable private sector...something sorely needed if they are ever going to be able t
  11. Yes, that is where my mind has been going. I was doing the math in a different thread, and what I get comes out to about every current 1million IQD becoming worth about $2,670 USD after such a conversion. It's still more than a 100% return on investment, per million, which is a ridiculously good ROI but nowhere near the kind of hopes for an overnight retirement we'd all been hoping to see. Now what's this about Adam saying .10 USD?
  12. D'oh! You're right, it's 1,000 IQD that it goes to. So that means, then, that 1,000 IQD would be equal to 860 USD at the current rate. 1,000 IQD at a 2.67 rate would make it $2,670. Definitely not the payout I was hoping for, but still wouldn't throw it away. :/
  13. I don't think money earmarked for loan repayments, etc, is counted as "reserve".
  14. Tell me if I have this right, please... If they removed 3 zeroes so that the 33 Trillion IQD becomes 33 Billion IQD being covered by 80 Billion USD. So, if you have 1,000,000 IQD right now, it's currently worth about $860 USD based on the exchange rate of 1166 IQD to 1 USD. If they remove 3 zeros (and issued new notes, presumably) you have 100,000 IQD instead of 1,000,000 IQD. It would still be worth about $860 USD. Exchange rate stays 1 IQD to .86 USD With 80 billion USD in reserve, however, they can cover a much higher exchange rate - a little over double, in fact. The
  15. I was reading that Iraq is saying they have increased their USD reserves to about $80billion. If that is true, I think that means they are able to cover all their IQD (around 33 trillion?) at an exchange rate of around 1 IQD to 2.50 USD. This is interesting to me, as I cannot think of any reason they would want to increase their reserve to this size. They only need about $39billion USD to cover their current IQD in circulation. Having more USD on hand doesn't make the IQD stronger - but it does allow them to cover an increase in the value of the IQD against the USD up to a 1:2.50 rate.
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