Shabibi confirms it again

[FreckledFuzz]

........

Thanks again boon.

You too FrekledFuzz

You're welcome

Not here to engage in discussion, just to help.

This was discussed earlier this week.

I don't know if you can read outside of the LOP section- perhaps you might have to sign out and read anonymously?

post 1

[sportfisher]

I still fail to understand how there can be so much excitement about the head of the CBI confirming that a redenomination is about to take place.

Quadkid............It really doesn't have anything to do with anyones parade, except pumpers and extended mini-pumpers

The sad truth is that most people don't really understand what a "redenomination" really is ?

Do I think there will be a Redenomination of the IQD.............hope not.............but there could.

I'm hoping for a straight RV.............increase in value of the current IQD currency.

Edited March 1, 2012 by sportfisher

[dinarck]

What I fail to understand is why you are here. If you really believed what you preached you would have sold out a long time ago and made investments elsewhere. By hanging on to your dinar, it says to me that you aren't truly committed to your beliefs. That in the back of your mind you still think you may be wrong and don't want to lose out if the money hits big and you made a huge mistake. I think the saying is called covering your ass. In the meantime, the money we invested isn't costing you a penny so why do you care if we believe you or not. You choose the articles you do because they corroborate your belief. On the flip side there are just as many stating something different. The difference between lopsters and the rest of us is this. It is kind of like the person that openly says I think the Patriots will win the Super Bowl but secretly want the Giants. When the Giants when they are all happy and will gladly accept they chose wrong. But if the Patriots(lopsters) win, they can say I told you so.

Could you show me some of those articles that say something other than RD. I have seen one a long time ago saying they wont RD but none recently. I think the ones as you say "just as many stating something different" are actually saying RD but have been twisted to mean RV. Please bring a few over so we can break them down.

You're welcome

Not here to engage in discussion, just to help.

This was discussed earlier this week.

I don't know if you can read outside of the LOP section- perhaps you might have to sign out and read anonymously?

post 1

Yes I can view outside of this section. Thankyou.

[dinarck]

You're welcome

Not here to engage in discussion, just to help.

This was discussed earlier this week.

I don't know if you can read outside of the LOP section- perhaps you might have to sign out and read anonymously?

post 1

Hahaha.... Of course they completly spun that into an imminet RV. The author writes of replacing the Sadam notes with the NID (New Iraqi Dinar) which we currenctly hold. Then he speaks of Iraqis dreaming of better purchasing power and introducing the NID at 1 to 1 with the USD. The key word there is introducing because that obviously didnt happen. The reason that didnt happen and the author speaks of it like the next sentence is because he says that all of the monetary policies regarding the new currency should be left to the Iraqi authorities at the CBI and based on a number of factors including the amount in circulation and so on. Yeah it really sounded good and all but that was then and this is now. Darin always asks why they didnt redenominate then and after reading that I would have to ask why as well. The bottom line is they chose not to bring the Dinar out of a hyperinflated state at that time which makes it an impossibility to do so without a RD now. Why they didnt do it then remains a mystery that the Go RVers will surely use to conspire about a anyday RV. My feelings still are they left the dinar in a hyperinflated state to grow their foreign reserves over these 10 years by the sale of dinar to speculators. Seems to have worked perfectly.

[Luigi1]

If it walks like a LOP, quacks like a LOP, it must be a LOP.

[betty1970]

I rarely say anything with substance on the forums, I am just make the odd comment, sometimes very odd

None of us know the outcome, end of story. Those of us who just threw a few quid at a gamble are simply errr, gamblers! I love horse racing, and although I was hoping that my outside bet would have romped home by now, I am still happy to watch it race.

This is a topsy turvy world economically, who would have thought back in 2006/7 that our banks would have failed us so miserably? I didn't. It came like a bolt out of the blue. The expression 'You can take that to the bank' has flown out of the window hasn't it?

So expect the unexpected is my motto whether you are a lopper or rv'er. We are all entitled to our opinion, mine is that this still has an outside chance, always liked the outsider

[caz1104]

I rarely say anything with substance on the forums, I am just make the odd comment, sometimes very odd

None of us know the outcome, end of story. Those of us who just threw a few quid at a gamble are simply errr, gamblers! I love horse racing, and although I was hoping that my outside bet would have romped home by now, I am still happy to watch it race.

This is a topsy turvy world economically, who would have thought back in 2006/7 that our banks would have failed us so miserably? I didn't. It came like a bolt out of the blue. The expression 'You can take that to the bank' has flown out of the window hasn't it?

So expect the unexpected is my motto whether you are a lopper or rv'er. We are all entitled to our opinion, mine is that this still has an outside chance, always liked the outsider

+1,Love your attitude.Once you've entered into this investment you can (1)Read/listen/research more about the specifics (2)ride it out to its conclusion and hope for the best (3) Get discouraged start blaming/antagonizing others & (4) Sell,regroup,look for your next opportunity and move on with the rest of you life. I made my bed and am prepared for all scenarios. I choose 1 & 2 but am always set up for #4. #3 is not in my make-up. Best to all

[hame55]

I still fail to understand how there can be so much excitement about the head of the CBI confirming that a redenomination is about to take place. Yet reply after reply all giddy about this "great" news. WOW!!!!! Shabibi clearly says in this article that they are ready for redenomination and that the counterfeiting issue is way over exaggerated and does not hamper his efforts to RD. I can understand the whole smoke and mirrors nonsense argument but to read this article and somehow see it as good news is unbelievable. I am not telling the mods or Adam how to conduct their business but in my opinion it would be a good idea to go ahead and bring all articles that reference removal, raise, or deleting zeros straight over here so that they can be debated in the proper place.

Baghdad:

Detect Iraqi Central Bank Governor of the Bank during the coming period to cancel the zeros of the Iraqi currency

in order to absorb the inflation of the Iraqi market as well as reducing the size of the Iraqi currency currently in circulation

is an existing project will see the light in the coming days after the completion of it, pointing out that there is an integrated study

on the matter and in the final stages of discussions, the decision was taken and must be submitted to the relevant authorities for

the purpose of legislation by the House of Representatives and the Council of Ministers.

Dr. Shabibi in an exclusive interview with (the people) shall be published later that the removal of zeros from the Iraqi currency

at the moment was inevitable and will contribute to facilitate the work of the government and Atathirat real current economic situation,

stressing that it will be canceled three zeros from the current currency will be printed six to seven categories of a new Iraqi cash.

Shabibi said that the central bank supervision and the role of Sergeant on the performance of all government and private banks and

is also evaluating its performance on a regular basis which improves the performance of the banking system.

And his view of the federal budget, which passed last week Shabibi noted that it's budget ambition and budget execution properly is

the one who will create some sort of supply and which will therefore reduce the rate of inflation happening in the country and not to

influence the economic stability and needs to be an act of solidarity significant of all.

And the size of the money presented by the Central Bank in the Iraqi market, said the governor that he was more than 150 dollars Mellon

on a daily basis and are purchased by the government and private banks and is subject to constant monitoring and supervision by the Central Bank of Iraq.

On the other hand denied Shabibi the existence of any negative economic impact on the spread of counterfeit currency in the local market in Iraq,

noting that the issue of counterfeiting, was given a size bigger than true to size, explaining that the process of fraud are almost non-existent in the

market and there was a fraud he is by people specific and does not affect the money supply in the domestic market in any way and that the bank has

the financial capacity of the enormous and that through which it can influence a course of the domestic market, saying "We are preparing the largest

player in the domestic market and control the course of events in economic terms, and I confirm that the currency issue false statements to the media

is just to change my actual facts and not on the ground and have no real impact on real perspective.

Dinark----

All of your arguments and analysis have been intelligent, thoughtful and incisive. But they are based on different assumptions about the unknowables...

the "deletion of the zeros" is an AMBIGUOUS statement - it could mean off the exchange rate, it could mean getting rid of higher denoms, and the numbers they have been putting out may be wrong and they may be planning an RV...

It could mean your way too, but the RV'ers have a different assumption - that Iraq is still controlled by the intl. bankers and occupiers, that they need to pay reparations, that they have the assets to back an RV, they've pulled in dinar at auction for years, and they've cooked the books and are lying about the numbers.

Sooooo, given what we know in the NEWS (which is controlled by the State, even here I might add) , the LOP argument is logical and you make sense, and you make sense given the emotional toll on people and for them to watch out for a possible RD. I myself still think it is a real possibility. But probably more like a hybrid RD/RV, tho hoping for a straight up RV to a dime or quarter, maybe a dollar given dollarization of Iraq.

So we are coming from two different places. We see Shabbibi talking about changing the currency in an article and we get excited - because under our set of assumptions it means an RV.

I am sorry for your frustration. It is not easy. But I for one am glad you're here on DV, like everyone else!

Edited March 1, 2012 by hame55

[HolySpirit]

I rarely say anything with substance on the forums, I am just make the odd comment, sometimes very odd

None of us know the outcome, end of story. Those of us who just threw a few quid at a gamble are simply errr, gamblers! I love horse racing, and although I was hoping that my outside bet would have romped home by now, I am still happy to watch it race.

This is a topsy turvy world economically, who would have thought back in 2006/7 that our banks would have failed us so miserably? I didn't. It came like a bolt out of the blue. The expression 'You can take that to the bank' has flown out of the window hasn't it?

So expect the unexpected is my motto whether you are a lopper or rv'er. We are all entitled to our opinion, mine is that this still has an outside chance, always liked the outsider

Hi Betty: Jesus has to be the most popular outsider ever. The funny thing is that He, being God, chose me, a mere "created" outsider, to know and follow Him even more closely than someone watching their favoite horse. Want to know more?

[Darin]

Could you show me some of those articles that say something other than RD. I have seen one a long time ago saying they wont RD but none recently. I think the ones as you say "just as many stating something different" are actually saying RD but have been twisted to mean RV. Please bring a few over so we can break them down.

Yes I can view outside of this section. Thankyou.

I believe as of recent, they're still debating on the actual plan and how to go forward. I think as of recent, we have seen mentions of removing only one or two zeros. Why does it always have to be three??

You bring up an interesting debate though, but the Lop believers & Go RV'ers should both learn to not be so naive.

It's pretty simple, if you see the removal of 3 zeros, a Go RV'er should understand that it is referencing a R/D (lop).

However, a Lop believer should not be naive to believe that they would "ever" just directly come out & say "We're going to R/V"!!!

They've pounded this concept into our minds over months/years & I am hoping that it is for their own illusion to actually do something entirely different.

If the majority of speculator holders walk away from this w/ a profit, do you think we would really care too much? It would still equal a wise move.

[skitealwedrop]

So your interpretation is better than theirs?

Seems like you cant wait to rain on the parade!

Quad

You go Quad!

[sxsess]

Hello dinarck... so, you're a proud lopster... we get it! But, what more do you want from people? If we all just agree with you to satisfy your own sensibilities... will you feel better? And if we do that... what's the purpose of hanging around... that's no fun. The fun is in the "not knowing", regardless of the "apparent" logic behind the news, etc.

So, respectfully, as much as it drives you crazy... your own presentation drives RVers crazy. At least RVers have a purpose for being here. Logically, we always ask the lopster... why are you here? Why not just take your absolute clarity in stride and enjoy it? Are lopsters actually here for the simple sake of an RD? Seriously, why bother? What other motive could there be, other than to try to "convert" others to your way of thinking? And again... if you are successful in that... what's to gain? There will be plenty of "I told you so's" to go around from either side of the aisle in the end... but really, who cares? That drives me crazy!

I am not trying to be disrespectful to you, or any other lopster... but the angst goes both ways... and so we wonder about true motives!

I wish you and all, all the best.

I dont wish him the best. Not because I'm upset but because he is clueless. LOP was on arrival over a year ago. Nuff said

[caracam]

Shabbs has said he will not let anyone speculate on his currency. With him describing an rd (remove 3 zeros and make a 25K=25 which is a neutral event) is doing exactly that IMO.

Edited March 1, 2012 by caracam

[quadkidd1]

Quadkid............It really doesn't have anything to do with anyones parade, except pumpers and extended mini-pumpers

The sad truth is that most people don't really understand what a "redenomination" really is ?

Do I think there will be a Redenomination of the IQD.............hope not.............but there could.

I'm hoping for a straight RV.............increase in value of the current IQD currency.

Just a figure of speech.

I am the eternal optimist and as most IMO hate the relentless negative spin some put on everything that may be construed as positive.

I am sure the vast majority here looks for a favorable outcome.

I do however agree that there could be several outcomes.

I choose to remain positive.

Quad

[MrDinarman]

In the end we'll make a few bucks. Nuff said.

[dinarck]

Shabbs has said he will not let anyone speculate on his currency. With him describing an rd (remove 3 zeros and make a 25K=25 which is a neutral event) is doing exactly that IMO.

So the pallets of dinar being sold daily around the world is Shabs not letting anyone speculate on his currency? I remember Ali stating that he was bringing into the US 2 million USD worth of dinar in 1 day. Thats over 2 billion in dinar in one day that I am sure he had no problem selling just to re-up over and over for years.

Thankyou everyone else for your replys. Using phone now but when I get home and have time would love to continue the discussion.

[Darin]

So the pallets of dinar being sold daily around the world is Shabs not letting anyone speculate on his currency? I remember Ali stating that he was bringing into the US 2 million USD worth of dinar in 1 day. Thats over 2 billion in dinar in one day that I am sure he had no problem selling just to re-up over and over for years.

Thankyou everyone else for your replys. Using phone now but when I get home and have time would love to continue the discussion.

Are you sure his comments were accurate?

What would be the sales drive of making such a comment?

Its basically saying 1 of 2 things: A lot exists and its truly inflated or a lot of people are aware of it and buying it up.

You see it one way, I see it both ways.

By the way, it takes a 1,000 billions to make a trillion.

Re-reading your quote, it maybe referencing one shipment. Its not like people repeatedly get shipments day after day.

A lot of that ID may have been resold over the the time as well through E-bay sales, other dealers who used DT as a supplier, and speculators jumping ship.

[pocono]

Are you sure his comments were accurate?

What would be the sales drive of making such a comment?

Its basically saying 1 of 2 things: A lot exists and its truly inflated or a lot of people are aware of it and buying it up.

You see it one way, I see it both ways.

By the way, it takes a 1,000 billions to make a trillion.

Re-reading your quote, it maybe referencing one shipment. Its not like people repeatedly get shipments day after day.

A lot of that ID may have been resold over the the time as well through E-bay sales, other dealers who used DT as a supplier, and speculators jumping ship.

In an MSNBC interview in 2008 Ali claimed to be selling 500 to 600 million dinar per day..interview available on youtube..

[dinarck]

Are you sure his comments were accurate?

What would be the sales drive of making such a comment?

Its basically saying 1 of 2 things: A lot exists and its truly inflated or a lot of people are aware of it and buying it up.

You see it one way, I see it both ways.

By the way, it takes a 1,000 billions to make a trillion.

Re-reading your quote, it maybe referencing one shipment. Its not like people repeatedly get shipments day after day.

A lot of that ID may have been resold over the the time as well through E-bay sales, other dealers who used DT as a supplier, and speculators jumping ship.

Sure alot of speculators jump ship but I would think most would sell to other speculators seeing how many banks wont touch it.

Yeah his numbers maybe exaggerated but then again maybe not. I dont think it is too far a stretch to think a few trillion dinar or more have been sold to speculatorsa over the years. Maybe even more than a few. We are talking world wide and multiple dealers and banks at one time. Just look at the recent document about Dinar Banker. I mean I know how much I hold and that multiplied world wide adds up to massive numbers.

[dinarslave]

Dinarck, There is a LOP section so why don't you hang out there where everyone will tell you you are right. It has been said many times that to LOP makes no sense and I believe their logic not just because I am looking through rose colored glasses but because it makes sense that to LOP would essentially ruin that country. This has been debated and debated and frankly I am tired of hearing it. Go be with your kin folk and leave us alone!

[pocono]

Dinarck, There is a LOP section so why don't you hang out there where everyone will tell you you are right. It has been said many times that to LOP makes no sense and I believe their logic not just because I am looking through rose colored glasses but because it makes sense that to LOP would essentially ruin that country. This has been debated and debated and frankly I am tired of hearing it. Go be with your kin folk and leave us alone!

This IS the Lop section..

[dinarck]

Dinarck, There is a LOP section so why don't you hang out there where everyone will tell you you are right. It has been said many times that to LOP makes no sense and I believe their logic not just because I am looking through rose colored glasses but because it makes sense that to LOP would essentially ruin that country. This has been debated and debated and frankly I am tired of hearing it. Go be with your kin folk and leave us alone!

Hahaha. Come back and visit sometime so you can tell me how a LOP would ruin Iraq. Make sure to take notes from your favorite guru first so you can know what you are talking about. Haha

[FreckledFuzz]

I started a new topic, but am bringing over a snippet from a website I found.

And I will be the first to say I know nothing about money- in regards to printing, or if it can literally disappear.

Here is the quote:

To date we have destroyed 224 tons of a planned 225 tons of old currency. To date our destruction is a mere 2.5% of the 9000 tons that we will destroy. To put this in perspective-we are bringing in twenty seven 747 plane loads of new Dinar or 2300 tons. We are destroying nearly four times that amount. Our capacity to verify and destroy will increase dramatically in the near future. With some luck and a lot of hard work we will be able to destroy some 6500 tons by January 15, 2004.

Read more: http://dinarvets.com/forums/index.php?/topic/107933-history-of-the-printing-ond-distribution-of-the-niqd/#ixzz1nt8RSeaw

[obviously there are decimal points missing in the first 2 numbers]

I am not wondering if part of the RV lies in the numbers --that which was brought in and what was removed--- the difference.

Also, am wondering how a currency series is printed. Is it printed all at once and portions allocated for distribution yearly?

I know the CBI numbers, but Scooter has referenced the CBI's numbers are based on USD$..and I'm wondering if all the CBI numbers are translated from USD and stated for legal purposes as Dinar values.

The following is a snapshot of where we stand with the new currency as of this date:

Total new Dinar in Iraq: 4.26 Trillion (67% of 6.36 Trillion)

Dinar inventory at distribution hubs: 1.2 Trillion

Dinar amount issued to banks: 3.06 Trillion

New Dinar in circulation: 845 Billion (19% of 4.364 Trillion)

Read more: http://dinarvets.com/forums/index.php?/topic/107933-history-of-the-printing-ond-distribution-of-the-niqd/#ixzz1nt9UGKM5

Not really here to argue or banter...but you've been wanting numbers so I thought these would be good to start with:)

[dinarck]

Well Fuzz, in that quote they are saying they want 6500 tons destoyed by 2004. The dinar we hold was printed from 2003 and on so why would they print tons of it to destroy it? Seems they are speaking of the Sadam era notes that they are destroying. The notes we have have been printed as far up as 2010 & maybe even beyond so whatever they did or didnt destroy in 2004 is nill in my opinion.

If the CBI is quoting dinar totals in value of USD which they are then it is hard to argue with that because 60 trillion dinar is about 60 billion USD worth so either way you look at it there is way too much out there.

No arguments or bantering here just discussion. Thanks for bringing more info to light.

[Ohioguy]

I have been invested for just over a year, but mostly read other's thoughts as opposed to posting my thoughts. But, in this regard I just have a thought provoking question. If there is a RD, which appears to be the case, what value would the lower denoms have unless there is an RV simultaneously? Other articles have stated that the two two currencies will exist together for a year. Could it be there will be a RD and RV at the same time and we will have a year to turn in the higher denominations at the new RV rate? Just asking.