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To educate those who feel the Iraq Dinar will LOP


icfaith
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Yes caz I realize that you were not responding to me. The problem is that your response is always the same. Find something new to whine about already. Many people have woken up. Either deal with it or show something that proves them wrong. By all means caz if you have some information showing a RV to be possible (which its not) then please share it with us. Until then, stop pointing fingers at people who have woken up and are responding to those still asleep.

I'll quit calling out those that go after others intelligence when & if it happens,so either deal with that or quit whining about it. When you can bring ANYTHING other than NO IT WON"T HAPPEN please share that with us. And please not the same old dribble that you always come with, I would think even you would tire of it. I know this irrates you to no end buuuuuuuuuut even you don't know how this will come out,so quit chastising others that have differing opinions. And if you dislike the so called pumpers so,here's a simple solution quit reading/listening to them. But I have a funny sick feeling you kind of enjoy following them so as to feed your hate. Happy hunting

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I apologize to any and all that I have offended for I am no better than those I argue with when doing so. Peace

Nothing to apologize for caz.... to me anyway, but a classy gesture. You're simply a voice of reason and clarity, doing a good job to many's expectations. :)

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I'll quit calling out those that go after others intelligence when & if it happens,so either deal with that or quit whining about it. When you can bring ANYTHING other than NO IT WON"T HAPPEN please share that with us. And please not the same old dribble that you always come with, I would think even you would tire of it. I know this irrates you to no end buuuuuuuuuut even you don't know how this will come out,so quit chastising others that have differing opinions. And if you dislike the so called pumpers so,here's a simple solution quit reading/listening to them. But I have a funny sick feeling you kind of enjoy following them so as to feed your hate. Happy hunting

Caz there is nothing offensive about your argument. Its all good.

Again caz. What I am ”dribbling” is the truth. If you disagree then show me where I am wrong.

Your statement of ”nobody knows” is false. We do know. We know that hyperinflated currencies do not ”RV” by 100s of thousands of percents. We know Iraq has an M2 of 70 trillion. We know a massive overnight increase in any currency would cause massive inflation. We know pumpers are proven liars. We know many things that make a ”RV” like has been pumped for years impossible. What we dont know is why some get so upset when we easily point out these facts. Just because we easily win the argument when GO RVers come here spouting off nonsense doesnt make us aggressive. Go Rv heads make themselves look silly. They really dont need help from us.

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Nothing to apologize for caz.... to me anyway, but a classy gesture. You're simply a voice of reason and clarity, doing a good job to many's expectations. :)

Thanks. I'm no better and tryin hard not to be any worse than others.At times thats a work in progress scenario.

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I'll quit calling out those that go after others intelligence when & if it happens,so either deal with that or quit whining about it. When you can bring ANYTHING other than NO IT WON"T HAPPEN please share that with us. And please not the same old dribble that you always come with, I would think even you would tire of it. I know this irrates you to no end buuuuuuuuuut even you don't know how this will come out,so quit chastising others that have differing opinions. And if you dislike the so called pumpers so,here's a simple solution quit reading/listening to them. But I have a funny sick feeling you kind of enjoy following them so as to feed your hate. Happy hunting

Caz, I have tried to steer him in that direction "anything other than a lop" because he has done his homework on this subject and I believe if anyone was capable of figuring out an alternative to the RD, it would be him. But, to tell him to stop with the lop talk isn't fair unless you want to give the Go RVers the same message. I realize you don't approve of his delivery but you know as well as I do that the lopsters have been ridiculed, laughed at, negged, ganged up on and thrown in Lopster jail. Even Keepm is not the same poster he used to be. Maybe he got tired of taking the heat, or maybe the baby has turned his brain to mush, :lol: I don't know. I do know if your opinion isn't popular on this forum it can get rough.

@ Dinarck, I know you don't need me to defend you but I'm counting on YOU. Keep thinking.

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Caz, I have tried to steer him in that direction "anything other than a lop" because he has done his homework on this subject and I believe if anyone was capable of figuring out an alternative to the RD, it would be him. But, to tell him to stop with the lop talk isn't fair unless you want to give the Go RVers the same message. I realize you don't approve of his delivery but you know as well as I do that the lopsters have been ridiculed, laughed at, negged, ganged up on and thrown in Lopster jail. Even Keepm is not the same poster he used to be. Maybe he got tired of taking the heat, or maybe the baby has turned his brain to mush, :lol: I don't know. I do know if your opinion isn't popular on this forum it can get rough.

@ Dinarck, I know you don't need me to defend you but I'm counting on YOU. Keep thinking.

In defense of Keep...he's been getting negged back to the stone age lately for no other reason than he can read and understand what the CBI has been saying for years...

I suspect,at this stage,if he were to shout GO RV he'd still get negged...to his credit he's still fighting the good fight..

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Caz, I have tried to steer him in that direction "anything other than a lop" because he has done his homework on this subject and I believe if anyone was capable of figuring out an alternative to the RD, it would be him. But, to tell him to stop with the lop talk isn't fair unless you want to give the Go RVers the same message. I realize you don't approve of his delivery but you know as well as I do that the lopsters have been ridiculed, laughed at, negged, ganged up on and thrown in Lopster jail. Even Keepm is not the same poster he used to be. Maybe he got tired of taking the heat, or maybe the baby has turned his brain to mush, :lol: I don't know. I do know if your opinion isn't popular on this forum it can get rough.

@ Dinarck, I know you don't need me to defend you but I'm counting on YOU. Keep thinking.

Thanks for the great post and I agree with all of what you stated. No one should be ridiculed for they're opinions(pro or con).

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Caz why do you even bother coming into LOP? You never seem to bring anything that disputes Iraqs 70 trillion M2 and all the obvious signs they will do as all before them have and RD.

Never said I disagreed with anyones assesment. Just don't see the need to belittle those that have differing opinion. By the way what else is there to bring that has'nt been beatin to death already? Time will tell,other than that its just speculation and really how accurate is that?

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Seems to me that if your opinion has been proven wrong numerous times and is really just wishful thinking then it shouldnt be surprising that it is ”belittled”. I mean if us ”lobsters” were saying there will be no RV because the euro is the only currency in Iraq then we would be laughed at and ”belittled” too. Since that can easily be proven false then that argument is about as strong as the opinion of many Go RVers.

I know you were not responding to me caz. Just throwing my 2 cents in.

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Some one earlier said that a lop was easy to do so they would have done long ago.. Well THINK . 30% of iraqis have less than an 8th grade education.. Everything would have to be reduced in price AND if you expected 500,000 dinar salary and only got 500 ???? would need to be at least a long weekend.. With low economic effect.. It may be difficult for some of them to understand that 1000 old equals 1 new and they have not lost value???

there is an upcomming time that this could happen. Ramadan ends when some immam sees the crescent moon. could be aug 18 or 19 then begins 2 feast holidays (banks are closed) . The CIB has declared Aug 21 a bank holiday!

IF CBI announced a RD before the 18th might avoid a bank run on the 22nd!...No proof just my thoughts .,. after that the dinar could float .

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Some one earlier said that a lop was easy to do so they would have done long ago.. Well THINK . 30% of iraqis have less than an 8th grade education.. Everything would have to be reduced in price AND if you expected 500,000 dinar salary and only got 500 ???? would need to be at least a long weekend.. With low economic effect.. It may be difficult for some of them to understand that 1000 old equals 1 new and they have not lost value???

there is an upcomming time that this could happen. Ramadan ends when some immam sees the crescent moon. could be aug 18 or 19 then begins 2 feast holidays (banks are closed) . The CIB has declared Aug 21 a bank holiday!

IF CBI announced a RD before the 18th might avoid a bank run on the 22nd!...No proof just my thoughts .,. after that the dinar could float .

Or it could happen at the first of the year like they contnue to tell us it will.

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daveD, they have been saying there dollar, lop-rebase-raise value-lift zeros, was going to happen for 5 years now, i just read a 2008 rebase article.

iraq hasnt rd'd for a reason, it looks better for an rv everyday, i know you rd guys love the rd articles, and they are 99% rd articles, but they truly can not say we are revaluing, but they can try to curb speculation by saying they aren't rv'ing. even though it hasnt worked, people are still buying it up.

i think that the rd crew looks just as foolish for listening to what iraq says, as most do listening to the heavy idiot liar-its rv'ing everyday crew. in fact iraq has probably lied a little more than the get team.

my point is, that iraq doesnt do what they say there going to do, so a first of the year, screw every country that has helped game plan is unlikely, to me it rv'ing is way more likely than rd'ing, they would of lopped in 08.

much respect....

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daveD, they have been saying there dollar, lop-rebase-raise value-lift zeros, was going to happen for 5 years now, i just read a 2008 rebase article.

iraq hasnt rd'd for a reason, it looks better for an rv everyday, i know you rd guys love the rd articles, and they are 99% rd articles, but they truly can not say we are revaluing, but they can try to curb speculation by saying they aren't rv'ing. even though it hasnt worked, people are still buying it up.

i think that the rd crew looks just as foolish for listening to what iraq says, as most do listening to the heavy idiot liar-its rv'ing everyday crew. in fact iraq has probably lied a little more than the get team.

my point is, that iraq doesnt do what they say there going to do, so a first of the year, screw every country that has helped game plan is unlikely, to me it rv'ing is way more likely than rd'ing, they would of lopped in 08.

much respect....

Sonny, the biggest argument for a LOP seems to be the amount of money in circulation...what is your take on that?

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Sonny, the biggest argument for a LOP seems to be the amount of money in circulation...what is your take on that?

i would like to know the truth on those numbers, i wasn't born yesterday, i do not believe anything iraq says.........nothing

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Hey sonny. I would like to know why Iraq would be selling pallets of 25,000 dinar notes worldwide if they were trying to curb speculation. I think the opposite is true. I think the CBI is selling as much dinar as possible in exchange for USD. The limitless supply to the dealers over the years should be proof of this. I mean where do we think all of this dinar is coming from? It is coming from the CBI. Why would they be printing dinar to be sold around the globe if they dont want speculation on their currency? Besides speculation is the only demand for dinar. Even Iraqis dont want it.

Pegged currencies print and sell their currencies on the open market to help build their reserves thereby making any massive overnight RV impossible. That is what Iraq has been and is still doing. Anyone can look up pegged currencies to verify my statement.

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Why Did I Buy Iraqi Dinar?

I purchased the Iraqi Dinar back in 2006 because a very close friend to me recommended it to me. He was worth $2.2 Million USD CASH at that time, not including his house, cars, or other assets. I am talking about cash, yes I saw his bank statement. With that being said, he told me to do my own research and come to my own conclusion. Well, I started watching it around August 2006 or so and made my first purchase in November of 2006. At that time, they would gradually increase the Dinar by about 3-5 Dinars on almost a daily basis! So yes, I was very excited! I watched my investment go from 1450:1 all the way to 1170:1, this is the point where it stopped a little over 3 years ago and hasn't budged since! My decision was not based off of hype, I do not regret purchasing, and I have learned a lot. The risk:reward ratio was very very good, in fact, I purchased at $900 per million. When I cashed out a large portion I would sell for $1,000 per million. One thing he said really stuck with me: Life is not about probabilities, it's about possibilities. This is (for me) only one of many many investments. If this is your ticket to riches, I am sorry, but you will more than likely not be rich. It is obvious that being rich was simply a dream for you, and not a goal!

Why Iraq Can't RV:

Countries don't just emerge as a global super power overnight. It takes years to get to that point. I am talking about the USA, China, Japan, Germany,

Well, first of all I am in no way "in the know" when it comes to the Dinar so what I say is only my opinion and should be taken as so, except for the numbers, as those are facts. I tend to look at the facts and what I see is too much Dinar!

M2 of 70 Trillion

I then compare the 70 trillion to a 1:1 RV which would equal 70 Trillion USD.

M3 Money Supply for Selected Countries

When considering M3, the total money supply (of the world) exceeds US$50.1 trillion! Of this amount, the U.S., Euro-Zone and Japan account for US$33.1 trillion or 66.2% of the total. The following graph shows a cross-country comparison for M3.

What I am wondering is how does Iraq, a war torn country, come out of the gate with a newly revalued currency which now equals more than every other country combined? Iraq's currency would now be worth twice of that of the USA, the Eurozone, as well as Japan combined! Even if Iraq has HALF of the stated money supply, it would make Iraq equal to the Eurozone, the USA, and Japan combined.

This is where I find it hard to believe that an overnight 1:1 RV is possible. Even $.01 is pushing it...

However, I do feel that a gradual increase in the IQD is possible! This way they could slowly reduce the amount in circulation while increasing the value of each existing currency unit in circulation. Increase oil exports, build up infrastructure, promote growth in the private sector, which will all help to build their countries' overall GDP. This is how a currency gains value in the real world.

If Iraq is worth 60 Billion but has 30 Trillion dinar in circulation. They could keep that same value ($60 Billion) but make each existing currency unit (IQD) worth more by reducing the overall amount. However, the decrease in currency in circulation needs to be gradual, as well as the increase in the value of the IQD. The reason it needs to be gradual / controlled is so that they maintain inflation.

Keeping inflation under control is EVERY Central Bank's biggest priority, and will always be, although they don't come out and say it, 2% is the target rate for any Central Bank. I don't think they want to destroy everything they've worked for just to have a high valued currency overnight.

Japan's total M2 money supply is equal to 6 Trillion USD

Iraq's total M2 Money supply is 70 Trillion IQD equal to 70 Billion USD

A $0.10 straight up RV of the IQD would make Iraq more valuable than Japan!

i would like to know the truth on those numbers, i wasn't born yesterday, i do not believe anything iraq says.........nothing

Is 5 Trillion Dinar a realistic number for you? I hope so...because Iraq is a cash based economy and I can assure you they are not operating with only $5 Billion USD...

Guess what Sonny? This is still too much for an overnight RV of 1:1!

I remember your debate with JMW...it was pathetic to say the least. Please don't embarrass yourself again, you seem like a nice guy but you don't bring the facts, and you definitely don't have any understanding of basic economics. I'll leave it at that.

By the way, in the other thread, I posted the information to help you understand and you came back with sarcasm. Not cool... dry.gif

Edited by 20MillionDinar
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I was looking for you to come out on this.

I am all for us teaching what is real and what isn't.

Let's use your Turkey example. The reason Turkey did a redenomination was due to EXTREME inflation. Turkish currency from the late 1970s, when chronic inflation, coupled with recessions in 1994 and 1999, as well as a banking crisis in 2001, saw the old Turkish lira depreciate heavily against other currencies. In 1966 the old Turkish lira was worth nine liras for every one US dollar, for instance. By 2004, you had to pay 1,350,000 lira for the same American dollar!

And let it be noted, this was not due to a war, it was completely due to poor governmental control on their economy. Big difference!!!!!

Inflation was so bad (up to 70% at times) and the exchange rate so dire that new notes with bigger denominations had to be introduced almost every two years from 1981 to match prices.

The Guinness Book of Records ranked the Turkey lira as the world’s least valuable currency in 1995, 1996 AND 1999 through to 2004.

Finally, the Turkish government had to act. As well as putting in place a plan to tackle inflation (now standing at 10.1% at the end of 2008, predicted by the Central Bank of Turkey to be between 5.4 and 8.2% in 2009) and putting more controls into the banking sector, they also decided to reissue their currency.

Again, 1. one of the two reasons a LOP would happen 2.is due to EXTREME inflation. Without extreme inflation a LOP would have a reverse effect on the economy.

Iraq is no where near in a situation of extreme inflation. At present, they are not even at 9% inflation. The currency auctions are keeping this in check.

So to use Turkey as an example of Iraq LOPPING their currency is a poor example. Like comparing apples and watermelons, not even close.

If the Admin wished this to be moved to the LOP section, thats fine. I am not wanting to debate LOP actually, moreso trying to get those to understand that Iraq has no situations that would cause a LOP to be a useful tool for their economy.

If a LOP is used on a country that does not have extreme inflation it actually would assist in bringing the country into a high inflation, which is what a LOP is designed NOT to do.

I'm not wanting to debate the merits of a LOP or not LOP. And at the same time, in any debate or educational effort, I think its important to be sure there is accuracy in the foundation of one's assumptive beginning position. In this I believe it important to note two discrepencies in the logic used to make the arguement:

1. There are NOT simply TWO reasons a LOP would happen....

2. It is means of correction following a history of 'extreme' inflation (not current inflation... a history of inflation).

the Following Government/Central Bank (BOZ) Briefing says it probably best in a few words:

Currency redenomination has been defined as the process where a country’s currency is recalibrated due to a history of high inflation and currency devaluation. In such environments, the unit values of goods and services rise and along with it the values of notes and coins. Prices are quoted in millions and billions and currencies lose their value. The legacy of the past episodes of high inflation results in the rapid increases in the numerical values of prices. Ultimately in order to carry out transactions, large quantities of notes and coins are employed. In effect the basic functions of money as a medium of exchange, as a store of value, as a unit of account and as a standard for deferred payments becomes severely limited.

Redenomination of itself will not resolve high inflation and currency depreciation. These will be determined by the quality of macroeconomic policies that are implemented. Hence it is important for the prerequisites of sustained macroeconomic stability be met before a currency redenomination exercise is undertaken. There must be a social consensus on the importance of macroeconomic stability and the Central bank and Government must be committed to this on a sustained basis.

Currency redenomination can also be a means by which governments attempt to reassert monetary sovereignty. If citizens lose confidence in the national currency, they may begin to use foreign currencies such as the US dollars which creates difficulties for the implementation of monetary policy. Foreign currency substitution means that people are beginning to use another currency to perform those functions that the domestic currency was supposed to perform; as a means of exchange, a store of value, a unit of account and a standard for deferred payments. The central bank therefore loses control of the money supply.

Redenominations often occur after stabilization of the economy has been achieved, as governments attempt to reform and convince citizens and markets that high inflation is a thing of the past. It is important therefore that the timing must be correct. The Government must be fully committed to the reform. The Central Bank must be sufficiently independent to implement monetary policy. The Central Bank must be technically capable and must have gained sufficient credibility in domestic and international markets. There are many cases where these conditions were not met and Governments were not able to rein in inflation immediately after redenomination, which led to multiple efforts at currency reform e. g. Argentina and Brazil during the 1980s and early 1990s. Such multiple efforts create credibility problems and must be avoided if possible. [end]

Note on the underlined sentence..... when Financial Ministers talk about the value of the currency not changing, I'm wondering if they are talking about the "numerical values of prices" for goods/services/product? In which case an RD or Rebase would incorporate the concept of the currency not changing its value in terms of what it would still be able to buy.....

Last thing in the world I want is a LOP.... I am not debating for or against one in terms of what Iraq may or may not do, .... and again, my comments are out of the belief that a point or position should be accurate in the foundation of its assumptions.... And I would love to see the same arguement against a LOP (oh please), from the foundation of this more accurate information.....

Never in my life have I ever wanted to be more wrong than I want to be now in the conclusions i am beginning to consider as possible.... Make me wrong and I will be happy :)

Here's to Hoping you can :D

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Why Did I Buy Iraqi Dinar?

I purchased the Iraqi Dinar back in 2006 because a very close friend to me recommended it to me. He was worth $2.2 Million USD CASH at that time, not including his house, cars, or other assets. I am talking about cash, yes I saw his bank statement. With that being said, he told me to do my own research and come to my own conclusion. Well, I started watching it around August 2006 or so and made my first purchase in November of 2006. At that time, they would gradually increase the Dinar by about 3-5 Dinars on almost a daily basis! So yes, I was very excited! I watched my investment go from 1450:1 all the way to 1170:1, this is the point where it stopped a little over 3 years ago and hasn't budged since! My decision was not based off of hype, I do not regret purchasing, and I have learned a lot. The risk:reward ratio was very very good, in fact, I purchased at $900 per million. When I cashed out a large portion I would sell for $1,000 per million. One thing he said really stuck with me: Life is not about probabilities, it's about possibilities. This is (for me) only one of many many investments. If this is your ticket to riches, I am sorry, but you will more than likely not be rich. It is obvious that being rich was simply a dream for you, and not a goal!

Why Iraq Can't RV:

Countries don't just emerge as a global super power overnight. It takes years to get to that point. I am talking about the USA, China, Japan, Germany,

Well, first of all I am in no way "in the know" when it comes to the Dinar so what I say is only my opinion and should be taken as so, except for the numbers, as those are facts. I tend to look at the facts and what I see is too much Dinar!

M2 of 70 Trillion

I then compare the 70 trillion to a 1:1 RV which would equal 70 Trillion USD.

M3 Money Supply for Selected Countries

When considering M3, the total money supply (of the world) exceeds US$50.1 trillion! Of this amount, the U.S., Euro-Zone and Japan account for US$33.1 trillion or 66.2% of the total. The following graph shows a cross-country comparison for M3.

What I am wondering is how does Iraq, a war torn country, come out of the gate with a newly revalued currency which now equals more than every other country combined? Iraq's currency would now be worth twice of that of the USA, the Eurozone, as well as Japan combined! Even if Iraq has HALF of the stated money supply, it would make Iraq equal to the Eurozone, the USA, and Japan combined.

This is where I find it hard to believe that an overnight 1:1 RV is possible. Even $.01 is pushing it...

However, I do feel that a gradual increase in the IQD is possible! This way they could slowly reduce the amount in circulation while increasing the value of each existing currency unit in circulation. Increase oil exports, build up infrastructure, promote growth in the private sector, which will all help to build their countries' overall GDP. This is how a currency gains value in the real world.

If Iraq is worth 60 Billion but has 30 Trillion dinar in circulation. They could keep that same value ($60 Billion) but make each existing currency unit (IQD) worth more by reducing the overall amount. However, the decrease in currency in circulation needs to be gradual, as well as the increase in the value of the IQD. The reason it needs to be gradual / controlled is so that they maintain inflation.

Keeping inflation under control is EVERY Central Bank's biggest priority, and will always be, although they don't come out and say it, 2% is the target rate for any Central Bank. I don't think they want to destroy everything they've worked for just to have a high valued currency overnight.

Japan's total M2 money supply is equal to 6 Trillion USD

Iraq's total M2 Money supply is 70 Trillion IQD equal to 70 Billion USD

A $0.10 straight up RV of the IQD would make Iraq more valuable than Japan!

Is 5 Trillion Dinar a realistic number for you? I hope so...because Iraq is a cash based economy and I can assure you they are not operating with only $5 Billion USD...

Guess what Sonny? This is still too much for an overnight RV of 1:1!

I remember your debate with JMW...it was pathetic to say the least. Please don't embarrass yourself again, you seem like a nice guy but you don't bring the facts, and you definitely don't have any understanding of basic economics. I'll leave it at that.

By the way, in the other thread, I posted the information to help you understand and you came back with sarcasm. Not cool... dry.gif

i have better things to do than reread 20 minutes of stupidity....good day

i have better things to do than reread 20 minutes of stupidity....good day

oh, and thanks for calling me stupid-pathetic.

and no-one gives 2-shitts why you bought your dinar....

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i have better things to do than reread 20 minutes of stupidity....good day

Yea you have better things to do then re-read 20 minutes of stupidity right? Like putting me on MOD review??????????????????????

Unbelievable...

So I get put on MOD review for being rude but he is telling me what I type is stupidity????? How is what Sonny1 saying not considered rude?

F U Sonny! And the other mods if this is how this site is going to be! I have been here for 2 years and never have I seen this type of B.S. censorship!

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i have better things to do than reread 20 minutes of stupidity....good day

I didn't call you stupid, I said your debate was pathetic!

You are basically calling me stupid by saying what i wrote was stupidity!!! Showing your true colors Sonny1, only difference between you and I is that I can't post what I feel, and you can! Because you spent your time doing better things like putting me on MOD review!

Yea I'm pissed! Because somebody like Sonny1 who has emotional problems and can't handle anybody else's opinions or perspectives has control over who can post and who can't!!!

**I bet you are personally going to delete what I am saying before any other MOD can read what I'm posting you piece of $h!t.

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piece of shiiiit, thanks for the kind words, were trying to have a site were people dont attack other members, calling someone a piece of shiiiit isnt really what this site is about. i dont post anymore because of d-bags like you.

oh, i dont delete posts, sometimes when people get rude and out of control, they need to be monitored so they dont ruin the site, you already had a high warning, which none of these came from me, so you must of acted out in the past, i dont read your posts so i have no idea what it was about.

dude, i think you need a hug

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