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EverCurious452

Lopster
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About EverCurious452

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    Senior Member
  • Birthday 10/20/1953

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  • Gender
    Male
  • Location
    : under the dome of silence
  • Interests
    The thread that lead to my permanent mod review status (effectively being silenced since few posts get approved): http://dinarvets.com/forums/index.php?/topic/208123-the-sterling-currency-group-indictment/#comment-1569946

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  1. Hey SD. Sam I Am was/is the username of someone who posted about the dinar and the impossibility of an RV. I think he did post here for a time, but eventually moved to a site he co-develops with Marcus Curtis (links to other dinar sites appear to be off limits so you'll have to google for it if you want to read his old stuff), though I don't think it's been updated in quite a while. I'm doing great, hope the same goes for you.
  2. You meant 65 Billion and 650 Billion (not 65 Million and 650 Million). There has been quite enough arithmetic sloppiness upstairs trying to compute how much 69 tons of gold is worth. hundreds, thousands, millions, billions, trillions. These things make a difference.
  3. Where did I every say Botswana (or anyone else) can not give their opinion? I merely asked why he thought what he thought? I have had some conversations with Sam I Am, nothing more than that.
  4. You'll hear RV believers claim they know the Gurus are full of it and can not be believed. Yet the lies that have been repeated for years have sunk in to peoples reality as truths. Repeating a lie often enough that it becomes believed is of course a classic propaganda methodology. Here is an example just posted upstairs "Presidental Order # 100135 {something like that} ,executed in 2003 by bush ,made it legal for US citizens to puchase iraqi dinar .,so no worries there. Now why the hell would he do that?" This refers to executive order 13303 that the Gurus have always claimed did just what this posters says. But if you take the few minutes to look it up (or just click on the link I gave to the federal register) it says nothing of the sort. It has nothing to do with currency and is preventing law suits against the Development Fund for Iraq from those claiming damages by Saddam. Yet the idea that the US government was officially giving its blessing if not encouragement for folks to buy IQD and thus legitimizing the whole RV myth, remains to this day. The Guru propaganda machine continues to work, despite claims to the contrary.
  5. I was not implying that you knew or did so yourself, apologies if I gave that impression. You did not answer the question I asked about your assertion that Sam I Am is coward for not posting here (of course you are under no obligation to do so).
  6. How does not wanting to post somewhere where your posts are at best not welcome, if not outright banned, make him a coward? If you want to talk cowardice, how about those who have negged my posts in this thread (that only stated the facts around how the CBI operates) instead of actually responding.
  7. The USD is not a pegged currency, it floats. Its value (in other currencies or apples or cars or whatever) is what those wishing to buy USD with those currencies (or things) are willing to pay. The Fed does not set the rate. The IQD IS pegged (because their main goal of the CBI is stability and if the IQD were allowed to float it would go up and down with oil prices and terror attacks and so on and that is very hard on an economy). When the CBI sets a rate they are only setting the amount that the CBI itself will pay. Since they are the source of USD for exchanges (via downstream banks) the rate they set flows down everywhere else. They can only set that rate, to a value that they can support or they would run out of USD nearly instantly. Thus a rate vastly different (there is of course some wiggle room but we're talking order of magnitude here) from the ratio of foreign reserves to IQD in M1, is not possible.
  8. What we know for sure is 1) that a LOP is possible (whether or not Iraq will ever execute one is anyone's guess) and 2) that raising the value if a pegged currency like the IQD substantially beyond what can be supported by the central bank's foreign reserves and the money supply (e.g. 1000x as many here hope for) is not possible.
  9. Subjectively, I noticed that there are lot of Trump supporters among the RV believers. I wonder if this correlation is real. I think it might be as Trump is against a fact based or empirical method of analyzing the world, setting policy, and evaluating the effect of that policy. He, by his own admission, goes with his gut. (Cards on the table) this is my main object to our President. Some of his proposals, if he had actually done them, like changes to the tax code would find my support. But instead he does the opposite and just claims otherwise, which I find most objectionable. This "from the gut" methodology is of course how we ran our civilization for the first couple of thousand years. Then in the 1600's we invented science and a mere 300 years later our modern world had come into existence. That is not a coincidence. To believe Trump's claims you must not follow a fact based world view. Likewise to believe in the RV you have to ignore the basic facts of how currency works. Thus my speculation that there may be a correlation here.
  10. If you really are trying to "get this right" you do not seem to be trying very hard. I did not say I was trying to understand why folks invest. I know that, I even understand why people buy lottery tickets. What I said was that I was trying "to understand why people do such things as put money into something that can not provide a return". An investment is something where a positive return is possible (even if (extremely) unlikely). The RV is not and never was possible. Even breaking even will be extremely unlikely. But again an investment is not something where the best possible outcome if you are extremely lucky is that you might break even. And no I am not writing a book, I'm just curious. Other actual investments have a possibility of a positive return, so no I don't ask this question in actual investment forums.
  11. Only if IQD can not be carried across the border. If they can, then this violates the "one price" law in economics. That basically says that barring costs for transportation, tariffs, or legal limit on buying and selling this thing (currency in this case), things have to be about the same price in different locations. Otherwise you just roundtrip between the two buying at one rate and selling at the other and pretty soon you own the planet (in this case starting with $1,000, five roundtrips gets you $10T). I think you meant "they could change the rate DOWARD, i.e. more dinar per dollar)". They can not raise the rate without either adding to the reserves or lowering the size of the money supply (or placing very strict limits on currency exchanges so as to not deplete the reserves, which would mean the rate was not real, it was just a show rate).
  12. Useful to ME (or that is what I was hoping for). If its useful to others, that'd be an added benefit but I was mostly trying to understand why people do such things as put money into something that can not provide a return. So far only one response (I think that was Teastorm by am not sure) has offered any hint at that, who said that they understood there is no known way for this to happen but are hoping for a miracle. Ok, I sort of get that, but I don't think that explains most people's participation in this.
  13. The dollar floats. There is no official rate of exchange as the rate you get is determined by what a particular seller offers. The rate quoted is an average of all recent sales. Its so wide spread and the US economy is so large that the rate does not move up or down very quickly so it is very stable. The dinar is pegged. Its rate is set by the CBI and all exchanges eventually get back to the CBI. Any entity accepting dinar in exchange is only going to do so based on what they know they can get for them from the CBI. If the CBI does not have the reserves to cover the rate, no one will exchange them at that rate (which is why the CBI would never do such a thing). Iragi's will want to cash out to the more stable dollar because they have been living in a war torn country and even NOW prefer dollars to dinars (which is why the street price to get them is higher than the official rate). If the rate was raised to a value that the CBI could not actually sustain, there will be a run to cash out to get that rate before the system collapses (which again is why the CBI would never do this). Plus of course there is all the imported stuff newly wealthy (relatively speaking to what they had before) will want to buy which alone would drain the CBI of its reserves.
  14. True, in the FairTax idea, businesses would have to collect federal sales tax as they currently collect state and local sales taxes. Still easier then income taxes I'd think. Climate change has already had a big impact on plankton and that seems very likely to continue, though its also true that some species that could not compete before are multiplying like mad given the warming we have already had. How that will all end up? I certainly don't know. But reducing carbon to make that impact as small as possible seems like a prudent idea. There are also folks proposing things like global dimming to counter the warming (gee what could go wrong?). "We are a part of nature. We are not special ", total agreement there.
  15. I'm not sure what you mean by a "burden on business" SD. I think its a pretty huge burden to have to fill out tax forms for a corporation, mighty expensive too. In a fair tax system corporations do not pay sales tax. The thinking being that if profits are not sufficient after tax they are just going to raise prices so consumers end up paying anyway. As for climate change "evolve or die" off IS the case for a lot of species but humans will adapt. But, it won't be very pleasant. Fresh water and arable land moving around, sea level rise, more storms, more drought. Its all going to be expensive. We can make it less bad by getting off of carbon ASAP. Its absolutely true that we can not "make" other countries do likewise, but that is what leadership is about. Other countries know they have a huge problem, we have to help them solve it (and hey why not make money in the process?).
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