An Interview with John Jagerson

[pocono]

"finally completes"... Why havent they done it already like 10 years ago? Its a nwutral event that will cost 150 mil. Think about it.

The same could be asked about an RV which,according to many,only requires the push of a button...

[DaveD]

"finally completes"... Why havent they done it already like 10 years ago? Its a nwutral event that will cost 150 mil. Think about it.

Because it is best to redenominate after a country has stabilized it’s political and economic situation. An academic study of all redenominations specifically stated this.

As we have seen lately there are some in Iraq who feel they still haven’t reached the level of stability needed to redenominate. That’s exactly what has been said a number of times in the “let’s wait till 2014” articles.

[DaveD]

Your Descartes quote applies just as fittingly to the Iraq media and the CBI. "As far as possible" refers to those things you yourself can verify, not having to trust the word of another.

According to "many" - how many is "many?" - the CBI has had to build up its foreign reserves.

An RD does not require such.

Now, you will say, "The CBI's foreign reserves cannot support a large RV."

And I will say that we cannot believe the CBI's financials.

The difference is the gurus and pumpers are telling obvious and easily verifiable lies.

You are hoping the numbers and articles are lies.

The gurus are misinterpreting and adding meaning to articles that defy all logic. Lately there was an article that simply stated they would put off the new currency until 2014 and continue to use the current currency through 2013. That’s ALL it said… very simple statement. Yet the gurus pounced on it and somehow claimed it meant lower denominations would be added and a big RV HAD to happen and it was proof of no lop.

Funny thing is, just last week there was an Iraqi official who suggested they not issue the new currency and put out larger, 50,000 and 100,000 denominations.

Question… how can you, the guy who shouts misinformation at the drop of a hat. The guy who has to point out that every single article or bit of published financial information that doesn’t lend support to a big RV, all that info is propaganda… how do you remain silent while the gurus and pumpers day after day pull that crap? Your hypocrisy on the issue is staggering.

Edited July 18, 2012 by DaveD

[DaveD]

Hypocrisy? Really? All that you guys do is to pounce on the "goorooz" day after day, all the while believing implicitly in the Iraqi media and the CBI's financials. Where and when have I said that I believe the "goorooz" implicitly, David?

You guys?? I am banned from posting anywhere but here. How am I pouncing on those guys?

You seem to be a champion of anti-propaganda... yet I have not seen you one time call these guys out for OBVIOUS b.s.

[caz1104]

The difference is the gurus and pumpers are telling obvious and easily verifiable lies.

You are hoping the numbers and articles are lies.

The gurus are misinterpreting and adding meaning to articles that defy all logic. Lately there was an article that simply stated they would put off the new currency until 2014 and continue to use the current currency through 2013. That’s ALL it said… very simple statement. Yet the gurus pounced on it and somehow claimed it meant lower denominations would be added and a big RV HAD to happen and it was proof of no lop.

Funny thing is, just last week there was an Iraqi official who suggested they not issue the new currency and put out larger, 50,000 and 100,000 denominations.

Question… how can you, the guy who shouts misinformation at the drop of a hat. The guy who has to point out that every single article or bit of published financial information that doesn’t lend support to a big RV, all that info is propaganda… how do you remain silent while the gurus and pumpers day after day pull that crap? Your hypocrisy on the issue is staggering.

DaveD-Who seriously pays attention to what the so-called "guru's" say? Certainly no one here at DV and if so I bet it's a very small percentage. I'm amazed that this is used in any argument by anyone. The RD/LOP crowd love to throw this out as if it holds any relevance today. BS is spewed daily by many,its a fact of life so whats the point,it ain't gonna change. You either believe what someone says or you don't,move on. Best to all

[DaveD]

Right. Dinarck absolutely loves to throw it out, because he so seldom has another valid point. He is never wrong, you know. Oh, no. And yet, I called him out yesterday, having stated three times in the same post, that the Iraqi dinar is currently in a state of hyperinflation. To be sure, I do recognize that the zeros on the currency represent the after-effects of hyperinflation. But to state that the Iraqi dinar is currently in a state of hyperinflation is to insist that monthly inflation is currently in excess of 50%. What?

I not sure what your point is. Dinarck has said many times that Iraq's current inflation rate is single digit, around 8%. So you know good and well what his point is. It is that the dinar is a hyperinflated currency, not that it is currently suffering hyperinflation.

I also don't know why this is an issue. The guru claim that currencies only lop if they are suffering hyperinflation has been proven a lie many times. The fact is redenominations are to remove the past effects of inflation and you yourself are now admitting the zeros represent that.

The fact that gurus still make the false claims after years of the proof being submitted is evidence they are intentionally trying to decieve people.

[umbertino]

DaveD-Who seriously pays attention to what the so-called "guru's" say? Certainly no one here at DV and if so I bet it's a very small percentage. I'm amazed that this is used in any argument by anyone. The RD/LOP crowd love to throw this out as if it holds any relevance today. BS is spewed daily by many,its a fact of life so whats the point,it ain't gonna change. You either believe what someone says or you don't,move on. Best to all

Well... Seeing the number of pluses some posts get in reporting "Gurus" stuff ( or pumper-related material) I'd tend to disagree with you on that one...Some even earn the "Popular" badge

Edited July 18, 2012 by umbertino

[DaveD]

But you have also heard him say they currently have single digit inflation. He has said it a number of times when explaining that redenominations happen AFTER periods of high inflation. He has commented about the comparison to Turkey who lopped with 8% inflation.

The statement “The dinar is in a hyperinflated state” seems to be true to me. They suffered massive inflation in the past, so the dinar is still in that inflated state. That doesn’t mean it is still suffering hyperinflation at this time. This is a silly argument.

If my car tire is flat. It is in a state of deflation. It is no longer losing air, but it is deflated.

[DaveD]

I don’t know Dinarck any better than I know you. I know nothing of your past interactions with him and why there is so much animosity between you two.

I think all this record shows is you playing a petty irrelevant game of semantics in an attempt to discredit someone’s opinion.

You can have the last word here, I’m done with this subject, but would love to discuss the dinar any time you want.

[keepmwlknfny]

Dinarck's silence these last few days speaks volumes.

Probly because him and many others (from reading that 25 page post of nonsense) realize you have nothing legitimate to say about the dinar.....

Only that its a big conspiracy but thats about as far as you can take it....

Iraq is NOT currently in a period of hyperinflation, but I dont see how you cannot say that the currency itself IS inflated......excessively.....

[armondtoth]

99% of the people that seem to hold dinar have virtually no grasp on economics which works out perfectly for those dealing it.

Guess you have no grasp of economics, or you don't hold dinar. In which case you shouldn't even be here.

[easyrider]

[Sanssouci]

Your gratuitous use of the ellipsis suggests that perhaps you, Keepmwlknfny, are speaking for yourself in the third person.

Is "legitimacy" a thing to be determined only by virtue of consensus? If that is the case, then I beg to differ.

Edited July 18, 2012 by Sanssouci

[DaveD]

Your gratuitous use of the ellipsis suggests that perhaps you, Keepmwlknfny, are speaking for yourself in the third person.

Is "legitimacy" a thing to be determined only by virtue of consensus? If that is the case, then I beg to differ.

So you went from one ridiculously petty argument right to another inane attack.

While it might not be technically correct to use … as a pause in speech. It gets used that way all the time in chat rooms and message boards.

So… lighten up Francis.

[ayrnay22]

Maybe when I said to ignore u san he listened and now u just jump to every thread in the lop section baiting people for entertainment which I find rather childish but I guess your entitled to do as u please I guess ill go read some off topic posts

[DaveD]

Maybe when I said to ignore u san he listened and now u just jump to every thread in the lop section baiting people for entertainment which I find rather childish but I guess your entitled to do as u please I guess ill go read some off topic posts

San's posts are the epitome of "off topic".

A more appropriate scree name for him would be Sanspoint

[ayrnay22]

I guess ur the unexpected inlaw who could only find a seat at the kids table

[ayrnay22]

Talk away if its about turkeys rd but your in the wrong thread if u want to talk about something off topic there's a place for that to

[ayrnay22]

I read it I liked the article about China investing in five new wells better and no country wants to destabilize after a rd I never said they would rd or lop It seems more likely they will than won't but a key difference in iraq is the USA has a hand in the outcome of iraq as a country

I wouldn't be suprised if iraq slowly raises the value from 1166 to maybe 500 over another 5 years but that's just the cynic in me even with a new currency I don't see them jumping up to a dollar in a rush but who knows anything can happen but I'm practical so to me the lopsters make more sense but that's only based on the numbers were given if those aren't true then it won't matter

[DaveD]

An article, if articles are to be believed, just posted by Carello in the News section states:

Read more:

I am sure that this is precisely what Iraq wants too.

If the article is to be believed, they will lop as of the first of the year.

Not sure why you chose to highlight the opinion of a naysayer. The pertinent question is, will they lop or not? The answer to that seems to be yes. Who cares whether the lop will be a success or not? It will be years after the lop before that question can be answered and this scam will be over by then. Unless the gurus and pumpers can convince people they will raise the exchange rate of the new dinar to 1000 Dollars per dinar. Which is really no different that what they are claiming the current dinar will do. Sounds a bit silly doesn't it.

[Sanssouci]

If the article is to be believed, they will lop as of the first of the year.

If the article is to be believed.

Not sure why you chose to highlight the opinion of a naysayer.

Turkey's RD failed.

The pertinent question is, will they lop or not? The answer to that seems to be yes.

If the articles that say as much are to be believed. Until that actually happens, I can believe what I want.

Who cares whether the lop will be a success or not? It will be years after the lop before that question can be answered and this scam will be over by then. Unless the gurus and pumpers can convince people they will raise the exchange rate of the new dinar to 1000 Dollars per dinar. Which is really no different that what they are claiming the current dinar will do.

If Iraq LOPs, I certainly don't care if they succeed. My point was that Turkey, which is Iraq's presumed model for RD, failed, and that surely the Iraqis are aware of this fact. In view of this fact, Iraq will either strengthen its economic policy to better encourage success, or abandon the project altogether, and revalue the currency.

Sounds a bit silly doesn't it.

God bless you, Saint Dave. What seems silly is the prospect of Iraq keeping the status quo forever.

Edited July 19, 2012 by Sanssouci

[DaveD]

Turkey's RD failed.

So you believe absolutely nothing in articles except this one guy who according to you, CLAIMS the redenomination didn’t work.

It’s funny because you rip others for what you see as grammar errors. Yet you take this statement and display the reading comprehension of a second grader.

You even highlighted the key part of the statement. “due to lack of strong economic policies, their currencies failed to gain notable value”

In no way does it clam the redenomination didn’t work. It says the economic policies were not strong and that lead to no gain.

Here is a chart of the Turkish Lira

http://www.tradingeconomics.com/turkey/currency

If you start the chart at the beginning of 2004 you will see the Lira was about 1.4 to $1 at the time of the redenomination. About 4 ½ years later the Lira had increased in value to about 1.2 Lira to the dollar. It would take a strange mind to conclude that the loss of value around the end of 2008 was the result of the redenomination at the beginning of 2004.

A normal mind would look at that a see a stable currency for almost five years and say the redenomination was quite a success.

[RRSport]

Hypocrisy? Really? All that you guys do is to pounce on the "goorooz" day after day, because it is so easy, all the while believing implicitly in the Iraqi media and the CBI's financials. Where and when have I said that I believe the "goorooz" implicitly, David?

Hi Sanssouci, I wouldnt say its a case of explicitly trusting the CBI but for me personally its me trying to follow logic and history.

To me these two both point towards an RD more than a RV. Happy to be wrong but I like to stay grounded.

[caz1104]

Well... Seeing the number of pluses some posts get in reporting "Gurus" stuff ( or pumper-related material) I'd tend to disagree with you on that one...Some even earn the "Popular" badge

There are tens of thousands members here at DV,thats why I said a "small percentage". Same goes for the "reverse pumpers" here in LOP section, there is a small percentage of folks that buy into their every word,does'nt mean they are anymore right/wrong than anyone else. Can't change what people will believe in,......................and thats ok Best to all

[doctor robbins]

So you believe absolutely nothing in articles except this one guy who according to you, CLAIMS the redenomination didn’t work.

It’s funny because you rip others for what you see as grammar errors. Yet you take this statement and display the reading comprehension of a second grader.

You even highlighted the key part of the statement. “due to lack of strong economic policies, their currencies failed to gain notable value”

In no way does it clam the redenomination didn’t work. It says the economic policies were not strong and that lead to no gain.

Here is a chart of the Turkish Lira

http://www.tradingeconomics.com/turkey/currency

If you start the chart at the beginning of 2004 you will see the Lira was about 1.4 to $1 at the time of the redenomination. About 4 ½ years later the Lira had increased in value to about 1.2 Lira to the dollar. It would take a strange mind to conclude that the loss of value around the end of 2008 was the result of the redenomination at the beginning of 2004.

A normal mind would look at that a see a stable currency for almost five years and say the redenomination was quite a success.

Thank you. It's so hard to communicate facts to people who are operating under the assumption that what they've heard from "those in the know" is true. The facts are often the opposite of what you hear in dinar forums as you have just demonstrated. I recently posted a link to prove that Turkey's inflation rate when they lopped was about where Iraq's is today and the response from one many was "thanks for the link ... that's what I get for listening to other people instead of getting the facts for myself." The fact is Turkey's redenominatin was a success and Shabibi himself stated so.