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Dinarrock

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Posts posted by Dinarrock

  1. On 3/21/2024 at 11:09 AM, jg1 said:


    when it RVs they will get their dinar. Who would be crazy enough to leave that dinar under your bed mattress, lol when the value increases. 5 million dinar 5 million million dollars at least. I think we all will takeoff work and immediately make a chunky deposit.

    I think you are combining and conflicting two different issues with what you quoted. Yes everyone outside of Iraq will exchange and become millionaires, however the quote was specifically addressing the Iraqi citizen and getting their mattress money into the banks. When  they bring in that 5 million dinar in mattress money post RV they will not make 5 million dollars! Only people who hold dinars outside of Iraq will actually exchange into a different currency! If the US said next week hey we know our value is only worth .87c per dollar and we are increasing it to 1.00 even, when you take your $100.00 bill into Chase and tell them hey the US just increased the value of the US dollar I want to exchange it they will laugh at you and say exchange it for what?? This is the same for the Iraqi citizen a dinar is a dinar is a dinar when they go into the Iraq bank they will NOT be able to exchange for the US dollar, they will only be able to exchange 1 for 1 for the new lower denomination period. 

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  2. 3 hours ago, rvmydinar said:

    Your math isn't wrong. However, Pimple is HOPING the IQD to delete 1 zero instead of 3 zeros because May Be pimple is impatient to wait until the CBI delete 3 zeros. So may be, let's say, after delete 1 zero, pimple want to cash out and don't want to hear the word " Iraq dinar " forever. 

    Math looks correct to me so since you said it’s wrong why don’t you share with everyone your correct math instead of saying it’s wrong?? 

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  3. 1 hour ago, Dandy1 said:

    Yeah a BS article again AMC has been profitable what the last many quarters in a row, article says they will lose a ton of money this year BS! The 10K filing where they talk about the possibility of ch11 is standard legal jargon they are required to put into that! Check out other 10K filings there are tones of companies that have to put in the same similar disclosure by law! So no AMC is not going to be filing for bankruptcy they are a profitable company and the shorts will eventually get wrecked!!!

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  4. 4 hours ago, Laid Back said:

    “Economic affairs specialists have identified the most prominent advantages that digital transformation can achieve in banking, placing at the forefront of these advantages the elimination of inflation through the use of small denominations, and the absorption of citizens’ hoarded cash mass”

     

    Go delete of 000

    Go LD notes

    Go Stronger dinar

    Go purchasing power 

    Great call out on this article LB, says it right there again they want to release the lower denoms they CANNOT do that without an increase in value!! Again they also know they still need to pull out more mattress money again they have been doing this as much as possible pre RV, they will get all the rest of this money after they RV!!

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  5. 8 hours ago, RJG said:

    👀 Less physical lower denominations will be needed with electronic payments

    This is Huge for two reasons, it literally says by the end of this month which is still in the first quarter of the year! Secondly once again there is NO 250 dinar notes and if there were what’s it used for a piece of gum…lol.. this to me screams they are increasing the Lower denoms! The only way to do that is to increase the value or there is no use for them period!! Best article of the day, week so far RJG!!!

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  6. 5 hours ago, MommaMia said:

    Yes would be interesting.


    So in 2003 what was the rate of the IQD to the USD? How much of that 4 trillion I wonder did we eat up since then,  or did we spend that 4 trillion we hold on oil at all and still have it in holding?

     

    Let’s say 1 to 1 for simplicity sake. Now the USA made 4 trillion, now my question is how many other countries out there own trillion(s) in their currency? Then you might have corporations whom might own billions and then there is we individuals whom own several millions to billions plus. These numbers are unknown as far as I know. I own a fair amount and if it would  go to 1-3 I would be beyond wealthy.

    These numbers to me are staggering.

    So the question now, is how can Iraq afford this type of a run on the IQD’s when and if we have a RV? Can they truly back up this type of a RV?

    I guess the proper question would be does IRAQs treasurer or CBI really know how many IQD’s are out there?

    Maybe I am looking at this wrong.

    A question you should have asked before investing to begin with don’t you think?? At this stage in the game this is your concern! So I will explain again for atleast the tenth or so time that I have over the past decade or so! Iraq ONLY has to cover what’s circulating inside of Iraq PERIOD!! That’s why they have to and have been reducing the dinar inside of Iraq before they RV or RI, the more they get drawn in the higher their rate can be! Iraq doesn’t have to worry about any dinar OUTSIDE of Iraq, none of our dinars will ever go back to Iraq!! I am not going to explain any further how it works but this is 100% how it will, believe me don’t believe me I don’t really care but either way if you or anyone do not have a clue how this works or don’t believe what I am saying then you probably should have not invested in the first place and consider this investment as a long term wining lottery ticket!!!

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  7. 6 hours ago, ronscarpa said:

    Official: The issue of Iraq’s accession to the World Trade Organization is coming soon

    Official: The issue of Iraq’s accession to the World Trade Organization is coming soon
     
    2024-03-05 // 00:37
     

    Shafaq News / Undersecretary of the Minister of Commerce, Sattar Al-Jabri, considered on Tuesday that the issue of Iraq’s accession to the World Trade Organization was imminent, while he stressed that the current federal government would achieve self-sufficiency and not depend on the importer.

     

    This came during his hosting of a discussion session on the sidelines of the seventh session of the activities of the third day of the Al-Rafidain Forum 2024 - Baghdad, under the title “Humanizing the Global Economy.”

     

    Al-Jabri said during the hosting that the governmental curriculum developed by the Iraqi government is based on a strategy to keep pace with the development taking place in the global economy, as the government signed bilateral international memorandums of understanding in the field of trade and economics.

    He stressed that "Iraq is seeking to enter the World Trade Organization, and the issue is coming soon."

     

    The Iraqi government official spoke about the issue of import and export, saying: There is no trade balance between exported and imported materials, as the monetary mass was going to other countries, and this is what the current government seeks to address by relying on self-sufficiency.

     

    At the beginning of 2024, the Kingdom of Saudi Arabia announced its support system" rel="">support for Iraq’s accession to the World Trade Organization, especially after the political obstacles that prevented it were removed.

    Great news and hope so since Iraq will not be allowed to join until they have a true international tradeable currency!! 

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  8. 18 hours ago, md11fr8dawg said:

    Why???

    Why Not!!! Wish I could buy more at these prices! AMC will skyrocket eventually but unfortunately I have spent most of my retirement buying already!! AMC is not going bankrupt they are in a better position now then before the bs pandemic! Until then we wait!

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  9. 26 minutes ago, NWGUY said:

    I think Kap's numbers are off.  I am sure that Iraq has way more than 16 Trillion in assets, and I don't think that they’re up to 100 trillion dinars outstanding.   I personally feel that Iraq is in a good position to revalue, and not crush their economy.   Don't know where he gets his numbers, but I think he is on the lop program, which I don't think will happen.  We will see!  :rocking-chair:

    Kraperoni is clueless period the worst of the worst gurus, still do not why he continues to post!!!. No there is not that many dinar in circulation, and Iraq ONLY has to actually cover what is in circulation inside of Iraq when they revalue not anything outside of Iraq!!! Lastly, Iraq’s total net worth with all their oil sure could very well be 16+ trillion dollars that is US dollar value. Now the Iraqi dinar inside of Iraq even if they had say 20 trillion Dinar still circulating the total dollar value amount of that is only around 20 BILLION US Dollars!! So YES 20 billion value of dinar and Iraq has north of 16 Trillion in assets also again in US Dollars shows you they can easily afford to RV at $3+ dollars!! 

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  10. 5 hours ago, Artitech said:

    bad bank story no wink, I have to have the wink before I believe any bank story! NO WINK!!! no story! All lady bankers wink at you, when they are giving you inside information! That's how you know it's true, because they want that tip, when your in that bank cashing in ! Now who wouldn't throw a grand down, to your banker and tell them to go get them a steak dinner at Del Frisco's for that inside information! I know I would, and have done it. JMHO 🤠

    Hilarious and you must be from Florida or live there?..lol.. I have eaten at Del Friscos since I lived there definitely a great steak!!

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  11. 8 hours ago, Slave2Spartacus said:

    I read this article nearly 20 years ago. Take from it what you will. I have changed nothing in it .Remember A LOT HAS CHANGED .But here we all are.

     

      Economist Explains How They Plan To Have The IQD RV at 1 IQD = $1 USD Should Work!  In our 40+ year career as a Retirement Consultant we have been blessed to meet some very talented professionals. One of them is a retired State Dept. economist who introduced us to the IQD investment in 2005. He had worked on the original plan to install a new monetary system for Iraq after the 2003 invasion. He had originally indicated that the plan was for the IQD to achieve financial parity with the USD over a 7-10 year period from the introduction of the new system. At that time the USD’s use would be completely discontinued and it would be replaced by the IQD for in-country use and international exchange. The variable factor in the timetable would be the political environment.  I visited with him recently and got an update on several issues:  (1) He indicated the original time table was proceeding on a important fast track[due to the financial management skills exhibited by the CBI and the Finance Ministry in (1) controlling the rate of inflation, (2) controlling the value of the IQD in a declining economic environment and (3) implementing a digital banking system both internally and externally, but the variable was still the political environment.  Like most economist he doesn’t talk in absolutes (i.e. rate/date) but in probabilities. His knowledge base is pretty current since he is still part of a subsection of the original group that Iraq, State Department and IMF financial people bounce things off of.  (2) We raised the issue of the large number of IQD reported as being in circulation (current estimates are at 25 Trillion). He indicated this was mostly made up of (1) in country physical currency, (2) the ]foreign ]currency[ reserves of the central banks around the world which are electronic, (3) currency that had been printed but not released (i.e. small denomination bills) and (4) privately held physical currency sold to increase the foreign currency reserves.  The export oil revenues are still under the control of the UN supervised DFI, and Iraq only gets roughly 30% of the fair [valuef the oil they are selling, which is to be used only for budgetary expenditures. Since Shabbi, the head of the CBI, knew he couldn’t get anymore cash flow out of the controlled revenue system the IMF/UN had him under, he opened a currency sales window at the daily auctions to tap into the wallets of the worlds speculators. Worked pretty good, since he’s built his foreign currency reserves to over $50 billion USD.  (3) We then moved to the removal of big bills (the ones with the 3 zeros on them) and he said that this activity was always built into the plan. The activity was to begin as soon as Iraq had implemented a modern digital financial system (i.e. bank branches, credit/debit cards, ATM’s, direct wire transfers etc.). The removal of the large bills in-country would be the reverse of the process that was used to remove the pre-2003 currency with Saddams picture on it. The example was a 25,000 IQD=$25USD/pre-rv note would be brought into the bank and exchanged for a 25 IQD note=$25 USD post/rv. The 25,000 IQD note would then be destroyed removing it from the currency in circulation account. I told him a lot of people would call that a LOP and he laughed, saying they are partially right, because 25,000 IQD was being lopped from the currency in circulation account, but the only reason for this process was to improve money handling ability at all organization levels, and reduce the actual physical currency in use in all areas of the Iraq economy.  Interestingly enough, he said this activity could happen in-country without an approved RV rate being released to the International financial system. I asked how much physical IQD did he estimated was in circulation in-country, and he said probably less than had been originally introduced in 2003 which was about $4.5 billion USD worth at an exchange rate of 2000 IQD = $1 USD, because there has been a continuous process of not replacing the larger bills as they wore out. In fact this has resulted in currency shortages in some areas.  (4) The next obvious question was how would the removal of the large bills with the three zeros work outside of Iraq, because of the number of world speculators holding IQD. He indicated, the amount of IQD held by speculators was relatively minor (less than 10%) compared to the IQD held as foreign currency reserve by the central banks of a number of major countries (US, China, England & France were the largest) with major financial interest in Iraq. He didn’t have an exact estimate of speculator holdings but ventured an educated guess of 750,000 individuals worldwide with the majority in the US. Estimated value of their holdings $1.5 Trillion – $1.7 trillion IQD.  (5) Before discussing the planned process of how currency exchange would take plan after the IQD was released as an international tradeable currency, he asked if I remembered my economics 101 and what the real purpose of currency is? Yes teacher I replied, it’s a medium of exchange that facilitates the orderly distribution of goods and services among individuals, companies, country’s etc. The often used example, is the use of currency allows an automobile dealer to exchange a new mustang GT (composed of many diverse parts each with its own individual market value) for the cash]payment+ bank financing check of a proud new owner, and each has received equal market value at the moment of exchange.  This is an important concept because the value of a particular currency may be defined by the value of what the currency can be exchanged for,  The complete discussion was rather lengthy so here’s the executive summary of how the exchange should work with IQD owned by a US speculator:  (1) IQD is released internationally with an exchange rate of $1 USD = 1 IQD (2) IQD is exchanged by Mr. & Mrs. X at Bank Y. Their exchange value is credited to their designated financial account, Bank Y forwards the IQD currency to the Federal Reserve and Bank Y’s account is credited at the bank private exchange rate. Yes, the banks will have a private rate and then they will add their profit spread to come up with their public rate. By law this bank spread could be as high as 8%, but it will be a competitive marketplace and the banks know investors will shop around. There is a possibility that there might even be a three rate structure (i.e. Treasury Rate – Bank Private Rate – Bank Public Rate) imposed, but he had no input on that subject. (3) The Federal Reserve adds the value of the exchanged IQD to their foreign currency reserve accounts and destroys the actual physical currency under agreement with the CBI, which serves to reduce the total IQD physical currency in circulation. This build up of the foreign currency reserve accounts serves to strengthen the USD in the marketplace, because heretofore the US has never held significant foreign currency reserves, because there wasn’t any country whose currency was perceived as being equal to or stronger than the USD. The IQD with it’s commodity (oil+others) base, potential for agriculture growth and aggressive private development growth, has the capability to become the most valuable currency in the world in the 10 years after it’s revaluation and approval as an internationally recognized currency. Other countries have lots of oil, but they can’t feed themselves, they operate under a monarchy or religious tribunal and they have no private development system in place. (4) Mr. & Mrs. X tithe to their church, local charity etc. which stimulates activity in that sector. They pay off their debts, making currency available for re-lending by their creditors. They buy a new house and car which stimulates their local economy and set up a conservative investment portfolio which adds capital to the investment markets. They also pay their estimated taxes which increases the cash flow to the US Treasury. (5) The Federal Reserve under a controlled redemption plan supervised by the IMF, will use it’s foreign currency reserve IQD account to buy oil for the national strategic reserve, DOD reserves, other country reserves as part of international support system" rel="">support agreements or resell it to private oil companies etc.  This gives the Federal Reserve a powerful market force capability to control the supply/price of imported oil which has far-reaching economic and national security implications.  The economics of this scenario look like this, using the exchange of a 10,000 IQD Note with a two-tier 2% bank exchange spread as an example:  (1) Mr. & Mrs. X get $9,800 credited to their non-interest bearing checking account. (2) Bank Y gets a $10,000 credit to its Federal Reserve account, and by adding the $200 profit to their capital account, allows them to increase their lending cap by $2,000 under the 10% fractional banking model. (3) The Treasury gets $3,500 in estimated taxes in the quarter after the exchange, because Mr. & Mrs. X are now in the “rich” category and get to enjoy the 35% tax bracket. This lowers the net cost of the IQD exchange to the US financial system to $6,500 USD (i.e. $10,000 out – $3,500 in). (4) The Fed’s designated agent, at some point, orders $10,000 worth of oil from Iraq. Payment will consist of a 10,000 transfer from the Fed’s foreign currency reserve IQD account to the IRAQ Oil payment account at the CBI. Even though the world spot price of oil is defined in terms of USD, the actual transaction may take place in any internationally recognized currency agreed to by the parties. For example, Iran only accepts Yen from Japan for their oil orders, because they don’t want USD in their foreign currency reserves. (5) The $10,000 order is filled with 200 barrels of oil based on the spot price on the date of the sale (for this example we used a $50 USD spot price). What does it cost Iraq to produce the oil to fill this order? Well they have negotiated productions agreements for $1.50 USD/barrel. From that price $.50 USD goes to the national Iraqi oil company who is the partner in the field the oil came from. Out of the remaining $1.00 the other oil field partners have to pay the Iraq government a profit tax of $.35 USD (35%). The net cost to Iraq to produce a barrel of oil used in this scenario is $.65 USD. (i.e. $1.50 – .50 – .35) (6) The transaction is completed with the Federal Reserve exchanging foreign reserve credits which are equal to 10,000 IQD (which had a net acquisition cost of $6,500 USD) for 200 barrels of oil (which has a net cost to produce of $130 USD.  Simply put, it cost Iraq $130 USD from their foreign currency reserve accounts to redeem the value of 10,000 IQD, which goes into their operating accounts. At the same time the US got $10,000 worth of oil for a net cost of $6,500. That’s how it was originally planned for Iraq to RV at 1 IQD = 1 USD, with the variable being the political element (i.e. UN Sanctions, GOI actions, IMF actions, World Bank actions etc.)  Now let’s really stir the pot by:  (a) Having the DFI ($280+ Billion USD) plus other frozen assets (estimated at $100 billion) turned back to Iraq and added to their foreign currency reserve, bringing it up to $430+ billion USD.  (B) Then change the current fractional IQD reserve requirements of 100% to 15%. That just raised the total potential money supply value to $2.8 Trillion (430 billion/ 15), while at the same time the total physical IQD in circulation is being reduced by removing the large bills with the 3 zeros.  © Also execute the plan Iraq announced to increase oil production from 2+ million barrels/day to 10 million barrels/day with the resulting revenues flowing directly to the Iraq treasury.  (d) To add a little more intrigue have the CBI continue to use it’s sales window to market oil futures and forex contracts. They have shown they can generate significant cash flow in the private market, think of their impact in public markets.  We leave it to your analytical ability to determine how high of an RV exchange rate IRAQ can really support system" rel="">support. There is strong political pressure to set the initial rate at $3.22 USD = 1 IQD, so it can be proclaimed that IRAQ has moved back into the International community of nations and has re-established it’s currency at the internationally traded rate in effect before Saddam invaded Kuwait in 1990.

    Awesome post thanks and yes I remember reading that and saving it on an old laptop that died!! Fingers crossed, I fully believe they will either RV at around $1.17 and if it’s higher it will be around $2.65!, not going to explain why but again from my 20 years invested and all my research and people I have come to know over these past 20 years those are the two rates I fully believe that one of them will be correct!! Hope to see it sooner for sure!,

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