NEW SCOOTER

[SWFloridaGuy]

6-13-2012 Scooter-EG: I think that shabs has three (rates) they've somewhat indicated these in the country reports two years ago from the imf there's a low ceiling, mid ceiling, and high ceiling. Low would be under the .86 range, the mid tier between 1.00 - 2.05 and the high upper two's. Nevertheless, even the low the numbers wouldn't work with the state of their economy right now. It will get there, it's just going take a bit more time. I think the tariff taxes are very important but it won't matter or have any impact on the bearing of the rate and here's why: They will receive the same value or amount regardless the rate will be determined by the strength of the economy not by the amount they tax on imported goods and services. The economy and country's wealth is determined by exporting products throughout the world and that will be judged through their GDP. Yes it's important to have the easy to use rate for Tariff transactions but it won't be the primary reason. I think the world community, particularly the 32 countries which are part of the reconstruction project are definitely involved and have influence over this event. I think the member organizations like the IMF, World Bank, OED, etc., they will have a large influence. Remember what their primary goal was originally, to provide the Iraqi people with increased purchasing power and to establish a middle class within Iraq. Stable purchasing power is important because a healthy economy produces less terror that's one but more importantly a healthy economy raises the living standards of everyone in that country. The European nations are in a real bind right now, just like the US, nevertheless when you take a look at the world map and look at the emerging countries, the MENA region is ripe. These oil exporters are doing very well right now. However, they do need to diversify their economy to prevent becoming a "Rentier" state. Imagine what an RV does in Iraq and the region. It's like an immediate economic explosion, which will drive the countries consumption upward and spending internally is only good for those economies.

Edited June 13, 2012 by SWFloridaGuy

[Laid Back]

Imagine what an RV does in Iraq and the region. It's like an immediate economic explosion, which will drive the countries consumption upward and spending internally is only good for those economies.

Go Rv

[doctor robbins]

Imagine what an RV does in Iraq and the region. It's like an immediate economic explosion, which will drive the countries consumption upward and spending internally is only good for those economies.

Go Rv

That comment only considers one side of this supposed RV. The flip side is that Iraq would be on the hook for trillions. With over 2 trillion dinar held by investors a $1 RV would mean that Iraq has $2 trillion USD to cover. At $100 billion a year it would take them 20 years to cover that with 100% of the revenues going toward the RV. It's more likely that 20% would go toward covering the RV's cost which would mean 100 years of pumping oil just to pay off speculators. Then of course we have to take into consideration the trillions supposedly held by other governments expecting to be repaid for the war or debt forgiveness or whatever other conspiracy theory du jour you prefer. Now how good does this look for Iraq?

Edited June 13, 2012 by doctor robbins

[randalln]

That comment only considers one side of this supposed RV. The flip side is that Iraq would be on the hook for trillions. With over 2 trillion dinar held by investors a $1 RV would mean that Iraq has $2 trillion USD to cover. At $100 billion a year it would take them 20 years to cover that with 100% of the revenues going toward the RV. It's more likely that 20% would go toward covering the RV's cost which would mean 100 years of pumping oil just to pay off speculators. Then of course we have to take into consideration the trillions supposedly held by other governments expecting to be repaid for the war or debt forgiveness or whatever other conspiracy theory du jour you prefer. Now how good does this look for Iraq?

I don't know why everybody thinks Iraq has to cover 1 to 1 ...Because investors have trillions ....THEY DONT ....in fractional banking thats not how it works

Iraq can do 2 trillion with 100 billion dollars ....by loaning it to ...other countries at a high interest rate ...(of witch there are hundreds of countries in need of some help) some of them are the largest economies on the planet .

they can loan 1 billion and get back 100 billion just at 10% bond swap in a year and never have any currency change hands ....all as a credit swap

In other words ....give a country a small amount of money ...and in return that country ...pays there debt ...held by that countries people in the form of bank notes ...and holds the notes as collateral for future purchases

That comment only considers one side of this supposed RV. The flip side is that Iraq would be on the hook for trillions. With over 2 trillion dinar held by investors a $1 RV would mean that Iraq has $2 trillion USD to cover. At $100 billion a year it would take them 20 years to cover that with 100% of the revenues going toward the RV. It's more likely that 20% would go toward covering the RV's cost which would mean 100 years of pumping oil just to pay off speculators. Then of course we have to take into consideration the trillions supposedly held by other governments expecting to be repaid for the war or debt forgiveness or whatever other conspiracy theory du jour you prefer. Now how good does this look for Iraq?

I don't know why everybody thinks Iraq has to cover 1 to 1 ...Because investors have trillions ....THEY DONT ....in fractional banking thats not how it works

Iraq can do 2 trillion with 100 billion dollars ....by loaning it to ...other countries at a high interest rate ...(of witch there are hundreds of countries in need of some help) some of them are the largest economies on the planet .

they can loan 1 billion and get back 100 billion just at 10% bond swap in a year and never have any currency change hands ....all as a credit swap

In other words ....give a country a small amount of money ...and in return that country ...pays there debt ...held by that countries people in the form of bank notes ...and holds the notes as collateral for future purchases

[caz1104]

Thanks for bringing over Scooter SWFG,much appreciated. I'm a glass is half full type of guy so I tend to enjoy Scooters posts/chats.

[Toyvp]

It has been a loooong time since I posted on here but seeing this post I had to chime in, Iraq will not carry the brunt of the exchange whatsoever most of the dinar will go to the federal reserve where it will be used for foriegn currency reserves from there the feds will use it to 1 either trade with other countries for different currencies that they may need or products and 2 the feds will use it to purchase oil from Iraq in the future for strategic oil reserves wether that be from Iraq or one of the other OPEC countries. In all actuality there are numerous possibilities as to what this foriegn currency will be used for, The feds could use it for paying off debts such as china, WB .........etc. So it will not come out of there proverbial pockets overnight nor out of there bank account!!!!!!!!!

[billbill]

Thanks for bringing over Scooter SWFG,much appreciated. I'm a glass is half full type of guy so I tend to enjoy Scooters posts/chats.

Agreed!!!

Thanks, SWFG!

[AustinMom]

Thank you for your post TOYVP. I have posted very few times on DV, but two of my posts stated the same exact thing you just said. I received negs both times! I just believe that your/my point of view ruins other people's thinking.... Do not know.... just my opinion. Have a good day

[doctor robbins]

It has been a loooong time since I posted on here but seeing this post I had to chime in, Iraq will not carry the brunt of the exchange whatsoever most of the dinar will go to the federal reserve where it will be used for foriegn currency reserves from there the feds will use it to 1 either trade with other countries for different currencies that they may need or products and 2 the feds will use it to purchase oil from Iraq in the future for strategic oil reserves wether that be from Iraq or one of the other OPEC countries. In all actuality there are numerous possibilities as to what this foriegn currency will be used for, The feds could use it for paying off debts such as china, WB .........etc. So it will not come out of there proverbial pockets overnight nor out of there bank account!!!!!!!!!

What would the Fed Res want with trillions of dinar? Iraq's oil is sold in US dollars. Nobody wants dinar except for speculators. Even the Iraqis prefer USD. Any way you slice it Iraq is on the hook for their currency, and they're better off leaving things pretty much as they are than they are revaluing 100,000%.

[easyrider]

What would the Fed Res want with trillions of dinar? Iraq's oil is sold in US dollars. Nobody wants dinar except for speculators. Even the Iraqis prefer USD. Any way you slice it Iraq is on the hook for their currency, and they're better off leaving things pretty much as they are than they are revaluing 100,000%.

Well except for the fact the euro is about to collapse. If the euro collapses guess what? the U.S dollar goes down with it. You really need to start researching. Bottom line the dollar will fall at some point and will NOT be King any longer.

[randalln]

Well except for the fact the euro is about to collapse. If the euro collapses guess what? the U.S dollar goes down with it. You really need to start researching. Bottom line the dollar will fall at some point and will NOT be King any longer.

There is no need to argue with people that don't even read ...what other people took time to research for them .........Easy

ALL THE ANSWERS ARE ON THIS SITE SOME WHERE after 4 years

[Niteflyer]

well said!!!

[powerpager]

Yes, Scooter. We Want more !!!

[Toyvp]

Well except for the fact the euro is about to collapse. If the euro collapses guess what? the U.S dollar goes down with it. You really need to start researching. Bottom line the dollar will fall at some point and will NOT be King any longer.

Agree with you Easy but the fact of the matter is the federal reserve note is a fiat currency and the IQD is backed by gold, silver and oil it will be one of the strongest soon enough

[shabbadude]

No disrespect intended, but I think the good Dr. needs to stick with his/her choice of practice. If he/she exhibits the same grasp of his/her specialty as dinar related issues posted on this forum, I suggest a greater degree of malpractice insurance should be considered.

[tedro]

No disrespect intended, but I think the good Dr. needs to stick with his/her choice of practice. If he/she exhibits the same grasp of his/her specialty as dinar related issues posted on this forum, I suggest a greater degree of malpractice insurance should be considered.

this reminds me: I had a Doctor (PHD guy) working for me (oil & gas) once.......he was book smart but a complete stump when it came to most aspects of common sense........his lack-of-common-sense incidents would fill at least one chapter of a good book.............have a great day Doc!!

[katie45]

Scooter picking rates now. I hope they don't start to bash him.

[magawatt]

The way I understand it, one can think of the dinars a the US holds as coupons for discounted oil. Payment would still be made in dollars but at a significant (60% ?) savings. Don't know if we will ever see those savings though.

[unirod]

You are wrong. The IQD is backed by the US Dollar, Euro, and Great British Pound with the majority of their reserves being US Dollars.

So what does this mean? If the USD all of a sudden crashes (which it won't) then the IQD will also crash. People have been pumping this "commodity backed currency" on these dinar forums, however, no currency is backed by gold. Period.

Every currency is a fiat currency. Some currencies move in tight correlation with commodities such as the Australian Dollar, Canadian Dollar, New Zealand Dollar, and the Mexican Peso. But, even these are not commodity backed currencies. Hope this helps.

By the way, by repeating these untrue things that you hear circulating on these public forums actually spreads these false rumors even more. Then even more people get tricked and start saying things that are completely untrue. The cycle repeats... In my opinion, more people should learn to do a little research.

Sorry 20 mill.

I agree with your comment only because it's technically correct. All currency is based on its percieved value. Sentiment can change rather quickly, even overnight. So Fiat currency can be percieved as valueless in an instant regardless if it's traded internationally or not. I believe that TOYVP may have been trying to assert that the IQD does have assets backing their currency that you can measure and its not based on perceived value. Overnight the world community could perceive that the IQD is for real and they will race in mass to own it. Fortunatly for all of us, we are ahead of the curve.

[matus55]

It has been a loooong time since I posted on here but seeing this post I had to chime in, Iraq will not carry the brunt of the exchange whatsoever most of the dinar will go to the federal reserve where it will be used for foriegn currency reserves from there the feds will use it to 1 either trade with other countries for different currencies that they may need or products and 2 the feds will use it to purchase oil from Iraq in the future for strategic oil reserves wether that be from Iraq or one of the other OPEC countries. In all actuality there are numerous possibilities as to what this foriegn currency will be used for, The feds could use it for paying off debts such as china, WB .........etc. So it will not come out of there proverbial pockets overnight nor out of there bank account!!!!!!!!!

Atleast You Know What Your Talking About!

[fnbplanet]

That comment only considers one side of this supposed RV. The flip side is that Iraq would be on the hook for trillions. With over 2 trillion dinar held by investors a $1 RV would mean that Iraq has $2 trillion USD to cover. At $100 billion a year it would take them 20 years to cover that with 100% of the revenues going toward the RV. It's more likely that 20% would go toward covering the RV's cost which would mean 100 years of pumping oil just to pay off speculators. Then of course we have to take into consideration the trillions supposedly held by other governments expecting to be repaid for the war or debt forgiveness or whatever other conspiracy theory du jour you prefer. Now how good does this look for Iraq?

Aside from the fractional banking solution, there is also the possibilty that, after a 1:1 RV now, they can always do a 1:3 in a couple of years, once they retire the current IQD. 20 years? I don't think so.

[txwWrestling]

I will take the low, med or high. All sounds great to me. Go RV!