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Interesting News from CTC


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Thank You for your due diligence and sharing it with us, just hope we see a rv in the range your saying, I will continue to believe we will see the range of the euro, because again it was on forex, mataf, and other sites, in Sep./09 and I will never believe it was just human error, just wish I was standing at a place to exchange while it was showing for more than a hour, if I remember right, that's when I found out about the investment. Thanks again, please continue to give strong and real intel.......

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Tell me am I wrong by saying that if the currency value is allowed to float, then its value becomes what investors are willing to pay, true? If so, and Iraq has great potential economically, then the value is dictated not only by the country's reserves but also by its future potential, which people will be willing to pay for, now at a higher value. My point is, the final value may be higher than any of us can imagine, given the real and potential wealth Iraq has, wealth, people like us , are willing to invest in.

Here's another point that has not been discussed, before all the wars the dinar was worth just over $3. That, with undeveloped and underutilized oil and other resources. Seems to me the dinar should now be worth much more than the original value, given the current activity to open their vast oil reserves and efforts to expand their economic output past oil and into agriculture and minerals, of which there is great potential.

Seems to me this is a win win situation for all.

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Great post, I have believed along with you and others close to the same thing. I do believe it will be between the $1 and $2 dollar range to keep down some of the speculators. Thanks for a different take on it.

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I realize this is EddieX's statement and that Mattevan is just pasting it over here for our entertainment. However, I can't help but at least comment on EddieX's statements.

Here is the first: "While everyone was excited, I kept myself grounded and held back my thoughts. I thought it was possible but didn’t think it was happening when all the “gurus” started saying it’s done and they have the rate. They know nothing.

Again it is part of why CTC was started. Some of the stuff they “claim” has been found at CTC and researched. CTC is about FACTUAL research. While they post articles and try to use all of them as good. At CTC we break them down completely."

Based on what he has written here we should not expect any speculation from here forward, right? Yet what happens in the remainder of his post is largely speculative, after a brief if not entirely accurate summary of "fact."

Phrases such as "in our opinion", "probably" (twice), and "we believe" clearly indicate personal speculative opinions. I have no problem with that, on the surface, since I do it as well as 99% of the posters on these sites. But to claim that you are only "factual" and then to add "speculation" is less than accurate. Instead I'd like him to have just said up front, "we base our speculations on facts". That is what I do, up front.

Now, he makes a statement that is in his "fact" section that may or may not be fact: "He [shabibi] is taking steps to introduce the Iraqi Dinar as a currency that is 100% backed, which will establish the IQD in a pre-eminent position. "

If this is a true statement I have not seen it in print anywhere.

What we have seen in print is quite clearly stated by Shabibi himself, and that is that the current money supply of 23 trillion dinars needs to be drawn back to the pre 1980 level of 25 billion dinars. In addition, Shabibi has given us a road map for accomplishing that goal, namely the withdrawal of all noted with 3 zeros on them by the end of the year, or shortly thereafter. Therefore, based on his own words, we can expect the money supply to be 25 billion dinars by that time.

Given the fact that there are currently $43 billion in reserves, then at an RV rate of 1 dinar = $1 their reserves would be over 200% of money supply by the end of the year, right? This means that they could afford an RV of $1.72 per dinar and STILL have 100% coverage of their outstanding 25 billion dinars ($1.72 times 25 billion equals 43 billion). So EddieX's number of "somewhere near the Euro" is too low.

However, what EddieX did not discuss is the affect of a rate even at $1.72 with 100% reserve coverage. The answer to that question as to the "affect" is that serious speculators would flock into the dinar and force its value upward at a pace that Shabibi would find difficult to control. Any attempt to "float" the currency will lead speculators to the conclusion that 15% in reserves is PLENTY for Iraq. This means that the $43 billion would support an IQD value as high as $2.44 with still a 50% fractional reserve. Clearly I don't believe that will happen, but it does show the way speculators could be thinking and the risk of coming in too low for Shabibi.

Steve

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