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THE $50,000 DOLLAR BAG OF GROCERIES......


Legolas
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Not at all. The book is a resource that is discovered that is with the $5,000 . That is no different than finding a $5,000 gold nugget digging in your back yard. Iraq doesn't have $60 T USD of undiscovered Shakespeare or gold to find. So even if you were correct about the "creation" of $5,000, it doesn't scale up to support a big RV in Iraq.

No, your assumption is incorrect, the Book isn't a resource. It is an intangible asset. Where as Gold, which is a mineral, is a natural resource, and is a tangible asset.

How does Iraq or the CBI need to support the Dinar that has "already" been issued and paid for?

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1. That doesn't appear to be what sonny is saying. He's saying delete three zeros points directly to an RV (despite overwhelming evidence to the contrary).

2. Maybe they're saying they're going to RD, because they're planning on RDing.

3. Your argument that they would have done it a long time ago doesn't hold water, because you can say the exact same thing about HCL, erbil, etc. Iraq is a mess and the fighting between political parties means it takes them forever to do ANYTHING. Why would RDing be any different?

1. Your overwhelming evidence is the press releases from the CBI?

2. Maybe they are, but you have only the press releases as to what the CBI says it is going to do. But wouldn't you agree if Iraq could create all that wealth and get away with it, don't you think they should?

3. Sure it does, my argument holds just as much water as yours does, maybe more. If the CBI wanted to relieve the problems with their currency and their only goal was to de dollarize the Iraqi Market, issuing the lower demons and exchaning them 1000:1 2 years ago would have the exact same effect as it would today, so why wait?

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No, your assumption is incorrect, the Book isn't a resource. It is an intangible asset. Where as Gold, which is a mineral, is a natural resource, and is a tangible asset.

How does Iraq or the CBI need to support the Dinar that has "already" been issued and paid for?

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1. Your overwhelming evidence is the press releases from the CBI?

2. Maybe they are, but you have only the press releases as to what the CBI says it is going to do. But wouldn't you agree if Iraq could create all that wealth and get away with it, don't you think they should?

3. Sure it does, my argument holds just as much water as yours does, maybe more. If the CBI wanted to relieve the problems with their currency and their only goal was to de dollarize the Iraqi Market, issuing the lower demons and exchaning them 1000:1 2 years ago would have the exact same effect as it would today, so why wait?

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1. Sure. What's yours? Blogs from Blaino and Kaparoni?

2. Doesn't matter whether they should, if they can't.

3. Why haven't they passed the HCL? They've been talking about it for years. Just like the RD. EVERYONE acknowledges that the wheels of progress turn slow in Iraq, why would you expect it to be any different for them RDing?

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No, your assumption is incorrect, the Book isn't a resource. It is an intangible asset. Where as Gold, which is a mineral, is a natural resource, and is a tangible asset.

This is simply incorrect. A tangible asset is defined as a physical object and art or books or gold are all tangible assets. An intangible asset is not a physical object but things like patents, brand awareness, goodwill, etc.

How does Iraq or the CBI need to support the Dinar that has "already" been issued and paid for?

What do you mean by "paid for"? Iraq pays for the dinars it issues by putting holding foreign reserves that match or backs that value. That is what values their currency. So the exchange rate is set by the total number of dinars divided by that backing.
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1. Sure. What's yours? Blogs from Blaino and Kaparoni?

2. Doesn't matter whether they should, if they can't.

3. Why haven't they passed the HCL? They've been talking about it for years. Just like the RD. EVERYONE acknowledges that the wheels of progress turn slow in Iraq, why would you expect it to be any different for them RDing?

1. Will you admit that if the CBI came out and said that they were going to RV, it would greatly increase the speculation of the Iraqi Dinar? A very good reason why you shouldn't completely trust the CBI Press Releases. The CBI wouldn't be fulfilling their Fiduciary Trust if they did. (I don't go to other sites.)

2. You didn't answer the question. If they could RV at 1:1 without LOPPING, don't you think it would be in their best interest to do so? A simple yes or no will be fine.

3. If they are going to LOP they don't need the HCL. But it would seriously increase the perceived value of the IQD if they passed the Erbil Agreement and the HCL. A good reason why they haven't RV'd yet.

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No, your assumption is incorrect, the Book isn't a resource. It is an intangible asset. Where as Gold, which is a mineral, is a natural resource, and is a tangible asset.

How does Iraq or the CBI need to support the Dinar that has "already" been issued and paid for?

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1. Your overwhelming evidence is the press releases from the CBI?

2. Maybe they are, but you have only the press releases as to what the CBI says it is going to do. But wouldn't you agree if Iraq could create all that wealth and get away with it, don't you think they should?

3. Sure it does, my argument holds just as much water as yours does, maybe more. If the CBI wanted to relieve the problems with their currency and their only goal was to de dollarize the Iraqi Market, issuing the lower demons and exchaning them 1000:1 2 years ago would have the exact same effect as it would today, so why wait?

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You seem to be misunderstanding the entire concept of a revaluation. Iraq only needs to support the Dinars which have already been issued by backing them with their reserves. What you're not understanding is that "those" Dinars are currently valued at roughly 1/10 of a cent each. What the 100,000% RV does is "change" that value from a tenth of a penny each to $1.00 each - (or whatever the amount of the RV is) thus "increasing" the value by 1,000 times. That NEW value would suddenly increase the values of those Dinars in existence from the current $60 BILLION Dollars to $60 TRILLION Dollars, which according to their law, and simple common sense, has to be backed by their reserves. Once again, $60 TRILLION DOLLARS is many times the total value of ALL of the money which exists in the entire world. How does that happen? Answer: It can't - at least under any existing or known economic principles. Can the world monetary supply be increased by roughly 6 times overnight, and by a third world, war torn country with a GDP that stands at #62? If it can, nobody has demonstrated how. :blink:

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1. This is simply incorrect. A tangible asset is defined as a physical object and art or books or gold are all tangible assets. An intangible asset is not a physical object but things like patents, brand awareness, goodwill, etc.

2. What do you mean by "paid for"?

3. Iraq pays for the dinars it issues by putting holding foreign reserves that match or backs that value. That is what values their currency. So the exchange rate is set by the total number of dinars divided by that backing.

1. No, I am correct. Works of art and literature are covered under "Intellectual Property" which is an intangible asset.

2. "Paid for" means that the CBI just doesn't give away currency. There is normally some type of monetary exchange. All the Currency they have issued has been exchanged for some other type of value.

3. So you are saying for every Dinar in circulation the CBI is required to have an equal amount of Foreign Currency in reserves? laugh.gif Look at the FED! laugh.gif

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1. Will you admit that if the CBI came out and said that they were going to RV, it would greatly increase the speculation of the Iraqi Dinar? A very good reason why you shouldn't completely trust the CBI Press Releases. The CBI wouldn't be fulfilling their Fiduciary Trust if they did. (I don't go to other sites.)

2. You didn't answer the question. If they could RV at 1:1 without LOPPING, don't you think it would be in their best interest to do so? A simple yes or no will be fine.

3. If they are going to LOP they don't need the HCL. But it would seriously increase the perceived value of the IQD if they passed the Erbil Agreement and the HCL. A good reason why they haven't RV'd yet.

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1. If the CBI was going to RV I would NOT expect them to lie to everyone including the IMF and international investors. I would NOT expect them to release completely fraudulent financial statements. I WOULD expect them to just not say anything about it. They're not going to get into the good graces of the IMF and foreign investors by constantly lying. Would you agree with that?

2. Sure, if they could, but all evidence indicates that they can't.

3. That simply isn't true. The HCL is good for the people whether they lop or not.

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1. If the CBI was going to RV I would NOT expect them to lie to everyone including the IMF and international investors. I would NOT expect them to release completely fraudulent financial statements. I WOULD expect them to just not say anything about it. They're not going to get into the good graces of the IMF and foreign investors by constantly lying. Would you agree with that?

2. Sure, if they could, but all evidence indicates that they can't.

3. That simply isn't true. The HCL is good for the people whether they lop or not.

1. No, I do not agree with that. What if CBI is taking instructions from the IMF and World Bank? I would expect the CBI to do EVERYTHING in its power to make sure the Ecomony of Iraq receives maximum benefit from all of its dealings, International Investors should understand that. The CBI needs to educate the Iraqi people with what is going to happen with their currency. If they intentionally mislead them on one minor point, by telling them they are going to LOP, in order to protect their economy, then they should do it. They don't want to just all of a sudden introduce a new currency with no notice, it would cause mass confusion.

2. So yes, they should!

3. I never said the HCL wasn't good for the people. I said, if they wanted LOP they don't need the HCL, and they could have LOPPED a long time ago. But if they RV, passing the HCL beforehand would be a significant factor, justifying the RV.

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1. To sell your Shakespeare book, you have to find a willing buyer with $5 million in his back pocket to give you for it.

2. Why would anyone exchange trillions of USD for Dinar? How would the U.S. benefit from such an exchange?

In my scenario, I sold the Book, eliminating the need to find a buyer, because the buyer has already been found. But since you brought that up, I can add to my original thought. So now the buyer has a $5 Million Book, and I have $5 Million in my bank. We just created $5 Million out of thin air. th_smiley_two_thumbs_up.gif

2. Hmmm tuff one... tongue.gif To purchase oil from Iraq???

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1. No, I am correct. Works of art and literature are covered under "Intellectual Property" which is an intangible asset.

You are still wrong. A physical book is a tangible asset. The contents may be protected by copyright as an intangible asset, but the physical book is a tangible asset. Thus even if you buy the book, you have not bought the copyright on its contents (if there is one) and hence can not make and sell copies of the book that you own, but can do anything you want with the one book you have purchased.

2. "Paid for" means that the CBI just doesn't give away currency. There is normally some type of monetary exchange. All the Currency they have issued has been exchanged for some other type of value.

3. So you are saying for every Dinar in circulation the CBI is required to have an equal amount of Foreign Currency in reserves? laugh.gif Look at the FED! laugh.gif

The dollar is not a pegged currency like the dinar. The dollar floats and is worth whatever others will exchange for it. The dinar is pegged by the CBI and is worth what they will exchange for it. Edited by dvforumuser
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They sure do, and unlike the RD posts, the "GO RV" posts virtually never provide anything but complaints and criticism of the RD position.....NEVER evidence to support their argument. :(

Sad indictment of our society that the Loptalk thread seems to host the smartest minds on this entire forum but where the action is, rumor section, is filled with some of the most mind boggling nonsense that most toddlers would probably laugh at.

Its a simple case of people choosing what they want to believe.

I would argue that 80%+ of the posters in the rumor section wouldn't pass economics 101 but are clinging on for dear life to any rumor that will confirm this idea that they will be very rich soon.

While my humanist side hopes that they are right and their situation improves for the better very soon the reality,logic and economics seem to point to any other that a straight out RV of previously unseen proportions.

Another thing of note is how most of the argument and insults happen in the rumor section, where as mentioned above, is hardly the ground walked by intellectual giants.

The retorts that come from many there range from the strange to the bizarre.

Classic lines like 'why are you here on a dinar forum then?' and 'go away negative bashers you're ruining our buzz'.

After some time I am convinced these people do not wish to be convinced or hear anything other than how rich they are about to be.

Once this thing plays out I fear there are going to be some very disillusioned and depressed people floating about.

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1. You are still wrong. A physical book is a tangible asset. The contents may be protected by copyright as an intangible asset, but the physical book is a tangible asset. Thus even if you buy the book, you have not bought the copyright on its contents (if there is one) and hence can not make and sell copies of the book that you own, but can do anything you want with the one book you have purchased.

2. The dollar is not a pegged currency like the dinar. The dollar floats and is worth whatever others will exchange for it. The dinar is pegged by the CBI and is worth what they will exchange for it.

1. laugh.gif After futher reading, I admint, I am wrong about the book being an intangible asset, you are correct it is a tangible asset. HOWEVER, I still believe your statement below is still incorrect. The $5 Million was not created until the book was sold, same with the gold nugget in the ground, the value isn't created until the asset is actually discovered and subsequently sold.

Not at all. The book is a resource that is discovered that is worth the $5M. That is no different than finding a $$5M gold nugget digging in your back yard. Iraq doesn't have $60 T USD of undiscovered Shakespeare or gold to find. So even if you were correct about the "creation" of $5M, it doesn't scale up to support a big RV in Iraq.

I also missed your post below: The perceived value comes from when Iraq revalues its currency. If the IMF and World Bank think the rate is unsunstainable they probably won't approve the exchange rate, but if they do agree with Iraq's assertion that the Dinar should be on par with the US Dollar, then that's futher support for the new perceived value (new exchange rate).

The value of a pegged currency is determined by what the backing central bank will pay. If the number of dinars remains roughly the same, and the backing for the dinar remains the same ($60+ B USD), then how does the "perceived value" (whatever that is exactly) go up?

Hmmm tuff one... To purchase oil from Iraq??? "

Wouldn't it make more sense for the US to just keep those trillions of dollars and buy oil from Iraq with that?

Why would we want to give them Dollars when we can give them their new Revalued Dinar?

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1. laugh.gif After futher reading, I admint, I am wrong about the book being an intangible asset, you are correct it is a tangible asset.

Cool.

HOWEVER, I still believe your statement below is still incorrect. The $5 Million was not created until the book was sold, same with the gold nugget in the ground, the value isn't created until the asset is actually discovered and subsequently sold.

Before the sale the seller has a book valued at $5M and the buyer had $5M. After the sale that situation is reversed. Where is the value created? I'd say the value of such things is created when they are available to be sold. So oil in the ground is not an asset though the rights to drill for it would be, and once its pumped and and can be sold, then the oil itself has value. But I think you were looking at this creation of value as support that Iraq can create value for its currency. I don't think that works. The oil has value due to supply and demand, i.e. what others still pay for it. If Iraq lets its currency float that would put them in a similar boat, but they peg so the value is what they will pay for it. Their supply of foreign currency to make such payments is very limited.

I also missed your post below: The perceived value comes from when Iraq revalues its currency. If the IMF and World Bank think the rate is unsunstainable they probably won't approve the exchange rate, but if they do agree with Iraq's assertion that the Dinar should be on par with the US Dollar, then that's futher support for the new perceived value (new exchange rate).

An RD does put the new dinar (Iraq's new currency) on a par with the dollar and costs Iraq very little.

Why would we want to give them Dollars when we can give them their new Revalued Dinar?

This wasn't to me but I'll chime in anyway. :) If Iraq will give us 100 new-dinars for 100 dollars and sell us a barrel of oil for either $100 USD or 50 new-dinars, then yes paying in new-dinars would be the obvious choice. Since to Iraq all this does is sell oil for $50 per barrel when the going rates is double that, why would they do such a thing?
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1. laugh.gif After futher reading, I admint, I am wrong about the book being an intangible asset, you are correct it is a tangible asset. HOWEVER, I still believe your statement below is still incorrect. The $5 Million was not created until the book was sold, same with the gold nugget in the ground, the value isn't created until the asset is actually discovered and subsequently sold.

I also missed your post below: The perceived value comes from when Iraq revalues its currency. If the IMF and World Bank think the rate is unsunstainable they probably won't approve the exchange rate, but if they do agree with Iraq's assertion that the Dinar should be on par with the US Dollar, then that's futher support for the new perceived value (new exchange rate).

Why would we want to give them Dollars when we can give them their new Revalued Dinar?

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How would the IMF or World Bank think that a 100,000% overnight increase is sustainable? That is a complete impossiblitiy with ramafications that would destroy Iraq. A country cannot RV out of a hyperinflated state overnight. It isnt possible.

Why are we even still arguing this? If you believe that an overnight jump of that size is possible then please tell us all LOGICALLY how it could be done without creating massive hyperinflation not only in Iraq but probably around the globe. Maybe then we can get it behind us and start talking about things that are possible and even likely instead of discussing a hypothetical fairy tale that will never happen EVER on this planet.

You also say that the perceived value comes up when Iraq revalues its currency. Since when has any country ever revalued their currency so that they could have a higher perceived currency? The largest RV in history was around 35%. You talk like Iraq is going to do this without anything whatsoever to back up the statement. Iraqs currency is in a hyperinflated state. They cannot RV to anything other than small blips and that is a FACT.

Also after this "RV" that Iraq is going to do, when will the other numerous countries around the globe whose currencies are in a hyperinflated state get to "RV" themselves out of that hyperinflated state? Is Iraq the only special one who gets to do it? Is it because they have oil? Why cant Vietnam decide to "RV" themselves a quadrillion dong worth of wealth since Iraq gets to "RV" itself 10s of trillions of dinar worth? Does Vietnam not have enough oil? Does the IMF not "agree" that Vietnam can RV and "agree" on their rate? Are the worlds economic rules going to be forever altered to allow 100,000% RVs. Why not 100 million% RV on the next one? Maybe any country on Earth can just decide at any time that their currency will be worth what ever they want any time they want. This way speculators wont get their feelings hurt and can become ultra rich overnight all the time. Why wouldnt any country decide to hyperinflated their currencies on purpose so that they can "RV" themselves trillions worth of wealth? Maybe some can do it over and over so that they become worth 50 bajillionzillion.

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Sad indictment of our society that the Loptalk thread seems to host the smartest minds on this entire forum but where the action is, rumor section, is filled with some of the most mind boggling nonsense that most toddlers would probably laugh at.

Its a simple case of people choosing what they want to believe.

I would argue that 80%+ of the posters in the rumor section wouldn't pass economics 101 but are clinging on for dear life to any rumor that will confirm this idea that they will be very rich soon.

While my humanist side hopes that they are right and their situation improves for the better very soon the reality,logic and economics seem to point to any other that a straight out RV of previously unseen proportions.

Another thing of note is how most of the argument and insults happen in the rumor section, where as mentioned above, is hardly the ground walked by intellectual giants.

The retorts that come from many there range from the strange to the bizarre.

Classic lines like 'why are you here on a dinar forum then?' and 'go away negative bashers you're ruining our buzz'.

After some time I am convinced these people do not wish to be convinced or hear anything other than how rich they are about to be.

Once this thing plays out I fear there are going to be some very disillusioned and depressed people floating about.

Thank you.

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Sad indictment of our society that the Loptalk thread seems to host the smartest minds on this entire forum but where the action is, rumor section, is filled with some of the most mind boggling nonsense that most toddlers would probably laugh at.

Its a simple case of people choosing what they want to believe.

I would argue that 80%+ of the posters in the rumor section wouldn't pass economics 101 but are clinging on for dear life to any rumor that will confirm this idea that they will be very rich soon.

While my humanist side hopes that they are right and their situation improves for the better very soon the reality,logic and economics seem to point to any other that a straight out RV of previously unseen proportions.

Another thing of note is how most of the argument and insults happen in the rumor section, where as mentioned above, is hardly the ground walked by intellectual giants.

The retorts that come from many there range from the strange to the bizarre.

Classic lines like 'why are you here on a dinar forum then?' and 'go away negative bashers you're ruining our buzz'.

After some time I am convinced these people do not wish to be convinced or hear anything other than how rich they are about to be.

Once this thing plays out I fear there are going to be some very disillusioned and depressed people floating about.

Unfortunately this is the truth. Thank you for your post, it was very well written.

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Also after this "RV" that Iraq is going to do, when will the other numerous countries around the globe whose currencies are in a hyperinflated state get to "RV" themselves out of that hyperinflated state? Is Iraq the only special one who gets to do it? Is it because they have oil? Why cant Vietnam decide to "RV" themselves a quadrillion dong worth of wealth since Iraq gets to "RV" itself 10s of trillions of dinar worth? Does Vietnam not have enough oil? Does the IMF not "agree" that Vietnam can RV and "agree" on their rate? Are the worlds economic rules going to be forever altered to allow 100,000% RVs. Why not 100 million% RV on the next one? Maybe any country on Earth can just decide at any time that their currency will be worth what ever they want any time they want. This way speculators wont get their feelings hurt and can become ultra rich overnight all the time. Why wouldnt any country decide to hyperinflated their currencies on purpose so that they can "RV" themselves trillions worth of wealth? Maybe some can do it over and over so that they become worth 50 bajillionzillion.

RIght, or looked at from the other direction: why is it that hyperinflation lowers the value of the currency to begin with? Why doesn't it just increase the value of the country's money supply?
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RIght, or looked at from the other direction: why is it that hyperinflation lowers the value of the currency to begin with? Why doesn't it just increase the value of the country's money supply?

Yep. I think the whole hyperinflated state is not understood by many. They have been led to believe that it doesnt really matter and that a RV out of this state is no problem and can be easily done by Shabs just deciding on the rate. Unfortunately it doesnt work that way. Pumpers and gurus have done a great job of keeping people unaware of the significance of the currency being in the state that it is in. I freely admit that I had no understanding of its importance when I first bought in. I just figure that the value had to rise. So I didnt look before leaping. A little reading and learning is all it took.

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I do believe that Iraq is a unique and special situation, one that the U.S. helped create in its desire for cheap oil and a somewhat functional democratic society (as close as they can get) in a very contentious part of the world. Plus, I cannot get past the fact that Bush said the war would pay for itself. Finally, I am pasting some historical info on the dinar below, but it just seems to me that if, in 4 years, a country's currency can devalue so dramatically, it can revalue as well. I do believe this is a unique situation. I don't buy into the 150 other currencies revaluing together, and I don't hold any VND. Just my 2 cents worth......

The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 13⅓ rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher (3 dinars for US$1) than the official rate.[2]

After the Gulf War in 1991, due to UN sanctions, the previously used Swiss printing was no longer available. A new, inferior quality notes issue was produced. The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to sanctions placed on Iraq by the United States and the international community and excessive government printing of the new notes issue, the dinar devalued quickly, and in late 1995, US$1 was valued at 3,000 dinars.

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How would the IMF or World Bank think that a 100,000% overnight increase is sustainable? That is a complete impossiblitiy with ramafications that would destroy Iraq. A country cannot RV out of a hyperinflated state overnight. It isnt possible.

If Iraq is in a hyperinflated state, why on earth would they be issuing new metallic coins? It is my understanding from what I read, that coins have a tendancy to become more relied on than the paper money during hyperinflation and given Iraq is also introducing paper money, that would cause them more problems. So either Iraq has no clue they are going through hyperinflation, or your information isn't accurate.

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Sad indictment of our society that the Loptalk thread seems to host the smartest minds on this entire forum but where the action is, rumor section, is filled with some of the most mind boggling nonsense that most toddlers would probably laugh at.

Its a simple case of people choosing what they want to believe.

I would argue that 80%+ of the posters in the rumor section wouldn't pass economics 101 but are clinging on for dear life to any rumor that will confirm this idea that they will be very rich soon.

While my humanist side hopes that they are right and their situation improves for the better very soon the reality,logic and economics seem to point to any other that a straight out RV of previously unseen proportions.

Another thing of note is how most of the argument and insults happen in the rumor section, where as mentioned above, is hardly the ground walked by intellectual giants.

The retorts that come from many there range from the strange to the bizarre.

Classic lines like 'why are you here on a dinar forum then?' and 'go away negative bashers you're ruining our buzz'.

After some time I am convinced these people do not wish to be convinced or hear anything other than how rich they are about to be.

Once this thing plays out I fear there are going to be some very disillusioned and depressed people floating about.

I can only guess that you're not a believer in the "Plan"...you know the one with the Rothchilds,Bilderbergs,Knights Templar,the Loyal Order of Aardvarks and Teamsters Local 28...it was secretly laid out pre-war and is about to come to fruition...you have to "read between the lines" and be thankful that you're one of the select few that are privy to this secret investment opportunity...

Shhhh...

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I do believe that Iraq is a unique and special situation, one that the U.S. helped create in its desire for cheap oil and a somewhat functional democratic society (as close as they can get) in a very contentious part of the world. Plus, I cannot get past the fact that Bush said the war would pay for itself. Finally, I am pasting some historical info on the dinar below, but it just seems to me that if, in 4 years, a country's currency can devalue so dramatically, it can revalue as well. I do believe this is a unique situation. I don't buy into the 150 other currencies revaluing together, and I don't hold any VND. Just my 2 cents worth......

Why? Why would they be able to revalue just as quickly? If that were the case then why didnt Venezuela RV overnight? Why doesnt any country RV out of a hyperinflated state overnight? The answer is because it is impossible and the whole concept of an overnight RV of 1000 times the currenct value was never a reality. It was made up long ago and has been pumped to 1000s and have many convinced.

Why is Iraq in a unique situation? They are in the same situation that countless countries have found themselves in and most of them RDed. The ones that didnt still use their hyperinflated currency. If you dont believe me then dont take my word for it. Look up any country that has EVER RVed out of a hyperinflated state. You wont find one. Once again the pumpers have done a great job of convincing everyone that Iraq is special and are the richest country ever blah blah blah. They are just another country and regardless how much oil they have they cannot do the impossible. Period. The whole Bush said argument is silly. It means nothing. Future oil deals and access to their oil feilds was reason enough state the war would pay for itself if he ever said that which I doubt.

If Iraq is in a hyperinflated state, why on earth would they be issuing new metallic coins? It is my understanding from what I read, that coins have a tendancy to become more relied on than the paper money during hyperinflation and given Iraq is also introducing paper money, that would cause them more problems. So either Iraq has no clue they are going through hyperinflation, or your information isn't accurate.

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So 60 trillion M2 and Iraqis using 25,000 notes to buy shoes isnt a hyperinflated state? Like I said earlier. People dont really understand the whole hyperinflated state thing.

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