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icfaith

To educate those who feel the Iraq Dinar will LOP

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Part of being under ch7 was about being transparent. there maybe accounting adjustments, but to think ernest and youngs auditing department is off by more than 2% is not believable.

this isnt iraq just saying a number and everyones taking their word. they have to be transparent and are audited by third parties. If there was an attempt to hide, it would of shown up on the ledger somewhere. but the entire set of statistics the cbi lists on their site lines up with the 33 trillion or whatever it is now.

This isnt the cbo(congressional budget office) we are talking about.

Agreed.....you brought up a good point on transparency.....that is overlooked all the time as well....which makes it harder for me to believe that the CBIs numbers are fixed....

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Because its not the gdp and reserves or whatever you are saying. I doubt they have 70 trillion dinars in circulation. Ask yourself, what sense does that make? Unless the big whale investors are holding it all in speculation. Not sure why you answered a question with a flurry of diversions but I was saying was what if the numbers are off? Will you fall to pieces and say iraq cant be trusted ever again? What if they took the necessary measures to correct the mistake?

What do you mean by what sense does that make? It's only 70 billion USD worth and only half of that is actually in circulation. M2 is made up of more that what is in the hands of speculators or "whales". The point is there is that much in EXSISTENCE so it matters not how much is in circulation. Again, is 70 billion USD worth of M2 really too much for Iraq? It is if you are a wishful thinker.

Edited by dinarck
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Agreed.....you brought up a good point on transparency.....that is overlooked all the time as well....which makes it harder for me to believe that the CBIs numbers are fixed....

maybe they are being as transparent as possible, do you guys really think there is that much dinar in circulation? Cmon, that takes as much faith as believing in an overnight 2am rv.

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.

I almost blew my mt dew out my nose after reading that first sentence. where did you get that info from? Pallets of 25000 notes! As if we are to believe everyone outside of iraq is craving every dinar. Nah. Outside of dinar world, I doubt if anyone really cares.

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The last audit report on CBI website is 2010 and it was not approved ...Auditors (KPMG) cited inadequate fiscal control and poor risk management among other things ... Reported loses in currency trading accounts...Could not compell Kurdish banks to be audited...Good reasons not to trust any numbers on reserves or dinars floated.

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The last audit report on CBI website is 2010 and it was not approved ...Auditors (KPMG) cited inadequate fiscal control and poor risk management among other things ... Reported loses in currency trading accounts...Could not compell Kurdish banks to be audited...Good reasons not to trust any numbers on reserves or dinars floated.

Interesting, thanks for being honest.

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maybe they are being as transparent as possible, do you guys really think there is that much dinar in circulation? Cmon, that takes as much faith as believing in an overnight 2am rv.

30 trillion isnt too hard to believe simply because of having to aquire so much, to buy so little.....thats usually what happens with a low purchasing power.....there is usually more printed in order to make up for spending necessities......

If you divided the population of Iraq into the 30 trillion, that would mean that each man, woman, and child has about 1 mil dinar......which is about 1 thousand USD.....now think about how much we speculators COULD be holding.....I dont think its too much of a stretch.....

The last audit report on CBI website is 2010 and it was not approved ...Auditors (KPMG) cited inadequate fiscal control and poor risk management among other things ... Reported loses in currency trading accounts...Could not compell Kurdish banks to be audited...Good reasons not to trust any numbers on reserves or dinars floated.

The audits recieved a qualified opinion....does not mean the audit wasnt approved....

If you check what determines a qualified opinion, you will see that it means there were SOME discrepencies and those are specifically stated in the report....

None of the reasons for recieving a qualified opinion had to do with the amount of currency issued or the accounts related to reserve amounts.....so that basically means that besides the discrepencies, that the rest of the audit was performed to international standards (for the most part) and were fair....

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You are correct . Qualified opinions! If US or almost any other bank had the same "discrepancies "" would they be allowed to operate?? I admit i am obsesive skeptic... I believe CBI and Shabibi are a form of legitimized corruption... BUT it's Iraq. Can you find any more recent data?

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maybe they are being as transparent as possible, do you guys really think there is that much dinar in circulation? Cmon, that takes as much faith as believing in an overnight 2am rv.

I almost blew my mt dew out my nose after reading that first sentence. where did you get that info from? Pallets of 25000 notes! As if we are to believe everyone outside of iraq is craving every dinar. Nah. Outside of dinar world, I doubt if anyone really cares.

With the fact i almost have a million dinar for less than $1000, it only makes sense theres trillions. whens the last time you held $100,000 dollars in your hand......but only pulled a hundred out of your pocket to pay for it. the fact there are 25,000 dinar notes acting like a $20 bill, the concept of trillions should be realized. as if that even needed to be said. thats just me though

Edited by sandstorm
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And another major consideration. if iraq was running their country on dollars only, i could tremendously see dinar being drastically removed. but they dont. the goi converts oil sales into dinars to fund.

the law of supply and demand now come into picture. if there was drastically 70-90% percent of the dinar removed, iraqis would of wanted it, because there is less of it, which in itself creates demand, yet no demand. Only high demand for the dollar. do you think iraqis would give 1300 dinars for a dollar bill, if the cbi for the last two years was telling them their about to get 1300 dollars, for that same 1300 dinar?? No way, the behavior and pricing of the dinar, show no demand. high supply=low demand,

Edited by sandstorm
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You are correct . Qualified opinions! If US or almost any other bank had the same "discrepancies "" would they be allowed to operate?? I admit i am obsesive skeptic... I believe CBI and Shabibi are a form of legitimized corruption... BUT it's Iraq. Can you find any more recent data?

They do report monthly statistics on the CBI website.....the audits done by outside agencies are once a year and we usually see them in the summer months for the prior year....so we should be seeing 2011 statistics soon....

But you can check the monthly accounts on the CBI site as well....

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maybe they are being as transparent as possible, do you guys really think there is that much dinar in circulation? Cmon, that takes as much faith as believing in an overnight 2am rv.

I almost blew my mt dew out my nose after reading that first sentence. where did you get that info from? Pallets of 25000 notes! As if we are to believe everyone outside of iraq is craving every dinar. Nah. Outside of dinar world, I doubt if anyone really cares.

So where do you think all of these crisp clean 25,000 notes are coming from? Dinar trade, Dinar banker, B. H. Group, Sterling, ect. All of these places were selling butt loads of dinar a week for years. Thanks to not-so-Breitling even the lower denoms were sold in huge numbers. Now you are going to tell me that there wasnt pallets of dinar leaving Iraq on a regular basis? How do you figure? The CBI has been selling dinar to the internet hype generated industry for a decade. You think you and your friends are the only ones on the planet who are "in the know" about dinar? China, Israel, Australia, Japan, all of Europe, Canada, and a hundred other countries around the world have been scooping up trillions of dinar over the last ten years thanks to the likes of Oike and the gang. RVers can live in dream land all they want. Its not like facts really matter to them anyway but the FACT is there is trillions outside of Iraq and that number keeps growing.

So we know by the CBI financials on the CBI website that RVers love to ignore that there is over 30 trillion dinar outside of banks. That is around 30 billion USD worth. Why is this so hard for you to believe? Like Keep already pointed out, thats around 1000 USD worth for each Iraqi and we know that a large chunk of that is outside of Iraq. Seems to me thats about the right amount in circulation seeing how the dinar is in a HYPERINFLATED state. Another little fact that RVers love to ignore. Another FACT is that these numbers are growing every year. Again thanks to Oike and the gang and many other reasons. No you say? OK please show us documentation stating otherwise. No again? OK maybe just listen to spewrews for the "facts".

I take it you didnt do the research I recommended and looked up pegged currencies and how many of them work. If you decide to look up actual facts instead of believing Kraperoni for a change then you will see that developing nations with pegged currencies print and sell those currencies to help fill their foriegn reserves. Look it up.

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WOW, You aced it ..When a pegged curenrcey doesnt doesnt change the rate ,they can issue the amounts they want. I think they will stop at about $500/1Mqd...where is the dong now???

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So where do you think all of these crisp clean 25,000 notes are coming from? Dinar trade, Dinar banker, B. H. Group, Sterling, ect. All of these places were selling butt loads of dinar a week for years. Thanks to not-so-Breitling even the lower denoms were sold in huge numbers. Now you are going to tell me that there wasnt pallets of dinar leaving Iraq on a regular basis? How do you figure? The CBI has been selling dinar to the internet hype generated industry for a decade. You think you and your friends are the only ones on the planet who are "in the know" about dinar? China, Israel, Australia, Japan, all of Europe, Canada, and a hundred other countries around the world have been scooping up trillions of dinar over the last ten years thanks to the likes of Oike and the gang. RVers can live in dream land all they want. Its not like facts really matter to them anyway but the FACT is there is trillions outside of Iraq and that number keeps growing.

So we know by the CBI financials on the CBI website that RVers love to ignore that there is over 30 trillion dinar outside of banks. That is around 30 billion USD worth. Why is this so hard for you to believe? Like Keep already pointed out, thats around 1000 USD worth for each Iraqi and we know that a large chunk of that is outside of Iraq. Seems to me thats about the right amount in circulation seeing how the dinar is in a HYPERINFLATED state. Another little fact that RVers love to ignore. Another FACT is that these numbers are growing every year. Again thanks to Oike and the gang and many other reasons. No you say? OK please show us documentation stating otherwise. No again? OK maybe just listen to spewrews for the "facts".

I take it you didnt do the research I recommended and looked up pegged currencies and how many of them work. If you decide to look up actual facts instead of believing Kraperoni for a change then you will see that developing nations with pegged currencies print and sell those currencies to help fill their foriegn reserves. Look it up.

Fact that there are trillions outside of iraq....is that on the cbi website? I dont pay any attention to the gurus, so not sure what you are talking about. Youre arguements have no teeth cause you really arent making much sense there. Not trying to offend. You seem kinda neat.

WOW, You aced it ..When a pegged curenrcey doesnt doesnt change the rate ,they can issue the amounts they want. I think they will stop at about $500/1Mqd...where is the dong now???

What do you mean?

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Keepm said that every man woman and child has about 1 million dinar. (or something to that affect) An RV of 1:1 would make every man, woman and child a millionaire. Overnight. Possible? I think not.

Granted, maybe not every man woman and child have 1 million dinar. Maybe 500,000 IQD? 250,000IQD? Sure! That's only about $582 or $291. It's reasonable that an Iraqi would have about that much in their house.

And overnight every man, woman and child would have $250,000-$500,000?

Keepm, dinarck, DaveD and others must be crazy to think that it cannot happen. :surgeon: I don't know why I picked the surgeon.

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Fact that there are trillions outside of iraq....is that on the cbi website? I dont pay any attention to the gurus, so not sure what you are talking about. Youre arguements have no teeth cause you really arent making much sense there. Not trying to offend. You seem kinda neat.

What do you mean?

Hahaha... Yeah OK. Over the past 10 years only 900 billion dinar have been sold outside of Iraq. If you believe that then you would also believe in a 100,000% overnight increase in value too. Its basic math and common sense. I myself hold multiple millions and I am one guy in one city in one country. Like I said, this isnt the top secret "investment" that it has been pumped to be. Ali alone has probably sold a 2 to 3 hundred billion. Lets throw dinar banker in the mix and not to mention all of the banks that use to sell it around the world and it really isnt that hard to see trillions outside of Iraq. I heard Ali say in an interview that he was importing 2 million USD worth a week. That is 2 billion dinar a week. Dont underestimate the power of hype and numerous pumpers using it as a tool to keep "investors" "informed". Believe what you will but even if there wasnt over a trillion outside of Iraq (which there is probably 5 to 10 times that) then it really wouldnt matter anyway. Iraq would never pay out 900 billion or a trillion to speculators when they can just RD for free. They only have 60 billion and that is in reserves not to be given away to speculators only to have to borrow 15 times more because they wanted to "RV". This whole topic of how much is in circulation or inside or outside of Iraq is pointless anyway because massive overnight RVs are fantasy and do no exsist. Even if Iraq had 10 billion dinar in circulation it wouldnt matter The best they could do is slowly raise the value over a long period of time or inflation would ravage what little economy they have. The largest overnight increase in a currency value in history is under 50% for a reason.

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Realdinar..I mean

It costs maybe $4 to print 40 pieces of paper (1M dinar)

CBI sells to dealers for $850 , who markup to $1070 +/- and sell it

CBI puts $85 in reserve (maybe ) puts $760 minus some service charges in the Iraqi current account where it is SPENT!

CBI prints more. But dealers cant sell, less demand at $1070. Wharehouse backs up. Fire sale . drop price to $800 .But peg is 0.00085 ( doesnt change!)

Dealers now sell for $1000. to incite more "investment".. Still not enough demand ... Gotta get rid of these OLD dinar to make room for NEW. Lower the price again..

Yadda Yadda.

Could this happen? Sure its only $4 cost.of product..

Marketing 101, many years ago.

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I bought dinar based on the fantasy RV that was goingt to happen at any second, so you better buy now talk. Very stupid of me. That was in 2005. That was before anyone discovered the CBI finacials and it was before any talk of deleting 3 zeros and redenominating. Shortly after I invested I found the financials which showed the massive money supply and at that time I realized a big sudden RV was pure nonsense. Then in the summer of 2006 the first redenomination article came out. The minister of finance announced they wanted to redenominate the currency and delete 3 zeros. That was enough for me.

That was six years ago, Dave. I presume you have since gotten out of the investment completely. And again, why are you still concerned? Wouldn't your time be more wisely spent on a "better" investment than to hanging around here with all of us "losers?" Oh, that's right. You're vying for sainthood. Good luck with that. :P

Edited by Sanssouci
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That was six years ago, Dave. I presume you have since gotten out of the investment completely. And again, why are you still concerned? Wouldn't your time be more wisely spent on a "better" investment than to hanging around here with all of us "losers?" Oh, that's right. You're vying for sainthood. Good luck with that. :P

This is one of the more simple-minded comments thrown at lopsters on a regular basis.

I participate in a number of discussion forums. Sports, politics, and other subjects. None of which do I have $$ invested in. Exposing scams is just one of my interests.

Do you only participate in discussions about things you stand to monetarily gain from?

LOL… heck, 95% of your posts here aren’t even about the subject at hand.

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This is one of the more simple-minded comments thrown at lopsters on a regular basis.

I participate in a number of discussion forums. Sports, politics, and other subjects. None of which do I have $$ invested in. Exposing scams is just one of my interests.

Do you only participate in discussions about things you stand to monetarily gain from?

LOL… heck, 95% of your posts here aren’t even about the subject at hand.

"exposing scams".................................you must be one busy fellow. Oh and thank you for the billions of people world wide,for with out your efforts the world would be lost. Best to all

Edited by caz1104
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