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Enorrste

How Iraq has exposed its plans from the beginning

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thanks for all the info alot to absorb, but very interesting. I am sorta a newbie been holding dinars for about a year,reading everything i can, and this was layed out nice thank you.

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This was very good research and all verifiable, Thank You, E, I just hope you know what your interpretation of this research does for the hope of many of us, and I pray that you are a God Loving Man, and would only report this if you truly believe it in your heart, some of us really need your help in understanding all this. I was just a hard working Family Man working full-time and going to school to get retooled (if that's a word) In this crazy economy today, so I am praying that this investment pays off for My Family, and I would just like to believe that there are still caring people in this cynical world we live in, so again Thank You and God Bless You and your Family.

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Steve, you seem to be interjecting and assuming quiet a bit. The brackets [ ] are not in the arabic docs/articles. This is a little unfair, and more impressionable than real or realistic. Also inserting words is mis-leading and assuming your are in the heads of M or S is not fair to people here. I'm sure your will respond with theology & economics but this, is, how it is seen by me.

Edited by lancer22
Enorsst-a-genics

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Your dedication to research is second to none. I commend you on your efforts. Thanks for the post my friend.

Steve

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Steve, you seem to be interjecting and assuming quiet a bit. The brackets [ ] are not in the arabic docs/articles. This is a little unfair, and more impressionable than real or realistic. Also inserting words is mis-leading and assuming your are in the heads of M or S is not fair to people here. I'm sure your will respond with theology & economics but this, is, how it is seen by me.

Lancer - no offense intended - everyone is entitled to their opinion. But, when you can come up with an analysis as detailed as E's, logically layed out, with comments added to "clartify" not cajole - then you might have earned the right to be so specifically critical. However, each of us is here to learn something we might not know or understand - and, we can determine for ourselves what is fair or unfair. Those who put their analysis or opinions on this site do so to inform our family of investors - they shouldn't be torn down for sharing. Look at the interaction between Enerroste, Fir3y_Ph03n1x, Kent, and others - RESPECTFUL gentlemen all. And as for how E might respond to someone's CRITICISM, that would be his right to do so as he sees fit. If you open that door, he has the right to walk through it. This is how I see your post. As I've said before - eat the meat and spit out the bones.

By the way, I often use brackets, parentheses, hyphens, etc - and they are primarily for emphasis or expanded clarification. Also, it might be useful to read Lifestream111's post on criticism.

Edited by ronscarpa
spelling

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I really appreciate your efforts and time, I hope you are explaining to all of us the ways it actually is, there are alot of people hanging on your every word and opinions, I would not want to be you, if your way off on this. You do have a real talent for wording things in a way that we can understand. Hoping for a good outcome ,same as you.

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Kent, thanks for your responses. You indicated that no where does the "delete the 3 zeros" state that the large denom notes are going to be withdrawn from circulation.

From Feb 28:

"The Iraqi Central Bank defended its policy to withdraw by the deletion of zeros from the cash currency in order to reduce inflation".

He said “it is important to reduce [the money supply]," noting that the process of lifting the zeroes is a "long-term policy."

From Feb 10:

“CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.”

Steve

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Kent, thanks for your responses. You indicated that no where does the "delete the 3 zeros" state that the large denom notes are going to be withdrawn from circulation.

From Feb 28:

"The Iraqi Central Bank defended its policy to withdraw by the deletion of zeros from the cash currency in order to reduce inflation".

He said “it is important to reduce [the money supply]," noting that the process of lifting the zeroes is a "long-term policy."

From Feb 10:

“CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.”

Steve

Steve, You haven't been thanked 1,941 times by forum members for nothing. I just added another one.

Actually what I am saying is that nowhere does it state that ONLY the large denomination notes will be removed from circulation. If they RV, only the large notes are retired. If they lop, ALL the denominations (large and small) are retired. Lets look at these quotes:

Feb 28- The "cash currency" from which the zeros are removed can certainly refer to the general currency (read lop) or can refer to specific notes. Translation makes it difficult to know which for sure, but normally I think of currency as a general term and would not think a "plain sense" interpretation of that statement refers to the 1,000, 5,000, 10,000 and 25,000 notes specifically. You have to admit that he could have said that if that is what he intended. About the end of that statement - inflation. On a lop, I am sure we both agree that it has no direct affect on inflation, but that governments who do them hope it will add credibility, confidence and value over time, but an RV is an expansion of money supply which in a drastic case would be inflationary. If you have more value (RV) in an economy chasing the same amount of stuff (houses, food, etc) prices go up (inflation). I would maintain he can't be referring to a plan with an RV because he is saying the actions had the purpose of reducing inflation- opposite the risk of an RV.

Feb 10 - Again "currency" can most easily be understood to refer to the entire currency, not specific bills. Lops are done gradually with 2 currencies running concurrently (one with and the other without the additional zeros) while the old is phased out. Note, on the other hand, that the value change of an RV is immediate. Overnight, the value of the notes change and that 25,000 note buys 8,300 loaves of bread rather than 8 and he rushes to the bank to get it exchanged because he doesn't want to carry that note in his pocket. Overnight, the market vendor charges 5 or 10 dinar for a 3 dinar loaf of bread because he is surrounded by people who can afford 8,300 loaves!

I'm not thinking that sounds like a gradual change, nor one that reduces inflation.

...Not hoping to change your mind - just hope you can see this from the other (minority) angle. Thanks always,

Kent

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if you divide 11bil into 43bil you get 3.90 soooooooo they could easily cover a 3 plus rate

But Iraq has 43 TRILLION, not 43 billion IQD. This changes your math calculation drastically, bonehead.

FP

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Steve, You haven't been thanked 1,941 times by forum members for nothing. I just added another one.

Actually what I am saying is that nowhere does it state that ONLY the large denomination notes will be removed from circulation. If they RV, only the large notes are retired. If they lop, ALL the denominations (large and small) are retired. Lets look at these quotes:

Feb 28- The "cash currency" from which the zeros are removed can certainly refer to the general currency (read lop) or can refer to specific notes. Translation makes it difficult to know which for sure, but normally I think of currency as a general term and would not think a "plain sense" interpretation of that statement refers to the 1,000, 5,000, 10,000 and 25,000 notes specifically. You have to admit that he could have said that if that is what he intended. About the end of that statement - inflation. On a lop, I am sure we both agree that it has no direct affect on inflation, but that governments who do them hope it will add credibility, confidence and value over time, but an RV is an expansion of money supply which in a drastic case would be inflationary. If you have more value (RV) in an economy chasing the same amount of stuff (houses, food, etc) prices go up (inflation). I would maintain he can't be referring to a plan with an RV because he is saying the actions had the purpose of reducing inflation- opposite the risk of an RV.

Feb 10 - Again "currency" can most easily be understood to refer to the entire currency, not specific bills. Lops are done gradually with 2 currencies running concurrently (one with and the other without the additional zeros) while the old is phased out. Note, on the other hand, that the value change of an RV is immediate. Overnight, the value of the notes change and that 25,000 note buys 8,300 loaves of bread rather than 8 and he rushes to the bank to get it exchanged because he doesn't want to carry that note in his pocket. Overnight, the market vendor charges 5 or 10 dinar for a 3 dinar loaf of bread because he is surrounded by people who can afford 8,300 loaves!

I'm not thinking that sounds like a gradual change, nor one that reduces inflation.

...Not hoping to change your mind - just hope you can see this from the other (minority) angle. Thanks always,

Kent

Couldn't have said it better myself, Kent. Great points!

FP

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Lancer - no offense intended - everyone is entitled to their opinion. But, when you can come up with an analysis as detailed as E's, logically layed out, with comments added to "clartify" not cajole - then you might have earned the right to be so specifically critical. However, each of us is here to learn something we might not know or understand - and, we can determine for ourselves what is fair or unfair. Those who put their analysis or opinions on this site do so to inform our family of investors - they shouldn't be torn down for sharing. Look at the interaction between Enerroste, Fir3y_Ph03n1x, Kent, and others - RESPECTFUL gentlemen all. And as for how E might respond to someone's CRITICISM, that would be his right to do so as he sees fit. If you open that door, he has the right to walk through it. This is how I see your post. As I've said before - eat the meat and spit out the bones.

By the way, I often use brackets, parentheses, hyphens, etc - and they are primarily for emphasis or expanded clarification. Also, it might be useful to read Lifestream111's post on criticism.

thx for the response rons. Steve & I in the open chat forum went over this last night in detail for everyone to see. The brackets he used (properly) were words that he interjected into the articles and I simply wanted to have clarification as to his reason(s) for it. He gave that clairification last night to many people, including me. I did not critisize steve. We (steve & I) have had many conversations, sometimes we agree, sometimes not. We respect each other & our opinions. Just like I respect yours. Just understand that I am a strong supporter of Steve, but that doesn't mean we cannot disagree. Furthermore I posted this in the forum so other people could read it and use thier intelect to make the determination themselves..... LC And very nice avatar BTW..

Edited by lancer22
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