The new currency

[umbertino]

Dalite... Great post.... Thanks.

[BJinMontreal]

Treasury Bills, and some Gold.

The USD is a debt-based currency.

Also, the US is not in debt to other countries, and not subject to their requirements.

Case in point, gold, is measured in ounces, and always has a certain value. The price of gold is one of the items that reflects the value of the dollar.

The official value of an ounce of gold in the US is around $42.50.

It has been inflated to a $1600.00 per ounce commodity, reflecting the confidence in the USD; compared to other times. The lower the cost to purchase gold, the higher the value of the dollar; representing the confidence factor od the Dollar's users. It may go up over 3500 to 5000 per ounce, but it will always be one ounce of gold.

Unless the US has paid down all their debt to other countries in the past year - I would disagree with your statement the US is not in debt to other countries

http://www.huffingtonpost.com/2011/03/02/biggest-us-creditors_n_830167.html#s247854&title=10_Switzerland_

The "official value" of an ounce of gold was put in place when the US government confiscated people's gold during 1933 and has no bearing on whether people have confidence in the US dollar or not.

And the price of gold reflects how much confidence people have in gold, as compared to the USD, which is basically a debt instrument.

[caz1104]

Treasury Bills, and some Gold.

The USD is a debt-based currency.

Also, the US is not in debt to other countries, and not subject to their requirements.

The value of the USD goes up or down almost daily; in response to market-driven fears or confidence.

It's value is determined by people's willingness to use it to store wealth.

Case in point, gold, is measured in ounces, and always has a certain value. The price of gold is one of the items that reflects the value of the dollar.

The official value of an ounce of gold in the US is around $42.50.

It has been inflated to a $1600.00 per ounce commodity, reflecting the confidence in the USD; compared to other times. The lower the cost to purchase gold, the higher the value of the dollar; representing the confidence factor od the Dollar's users. It may go up over 3500 to 5000 per ounce, but it will always be one ounce of gold.

The USD, being backed by debt, is dependent on the user's confidence in it.

Iraq has a currency that is pegged to the USD, and is under requirements for their Central Bank to back it 100%. The CBI currently has the foreign reserves to do so. The Dinar is not comparable to the dollar as a monetary unit, other than it's value making small fluctuations in reference to the USD value.

Trying to compare the Dinar to the Dollar is one of the favorite Pumper tools to divert attention from what the CBI plans to do.

They feel that enough confusion will distract the Dinar holder from keeping up with actual events.

Anything to make their profit from Dinar sales increase; the buyer's lack of understanding is their path to riches.

In Carnival terms, the buyer is the "mark" , and is to be manipulated to their advantage by the rumors and falsehoods they create.

Currently, the inability of Parliament to pass laws, and their basic lack of financial knowledge are the Dinar holder's best friend..

The GOI is the largest factor holding off an RD, not some pumper telling folks that the USD redenominated and did it differently than any other country, and so will Iraq.

Anyone that tries to convince you of that is either clueless, or playing you.

Don't get punked by the Pumpers... The only place their fairy tales have any relevance is in Dinar Forums.

"Trust, but verify". The validity of any post, including mine, falls under that scrutiny.

Anything that cannot be verified is suspect. Most of the Pumper's promises fall under that category.

There portions of what you state that are accurate and others that are opinions and should be stated as such. Sales in general is about accentuating the positives and withholding or minimizing the negatives,nothing earth shattering about this fact. Reverse pumpers are doing the exact same thing only in reverse. So don't get punked by these fine folks as well.It seems both sides have agendas,so be careful. Fairy tales or dark clouds are for those easily manipulated and again both sides are guilty of this. Do your own research and never rely comepletely on anything you can't verify yourself or any cartoon character here on the web. No one has all the answers no matter how many times they try to convince you otherwise.

These are my opinions and should be accepted as such-Peace

[Dalite]

Unless the US has paid down all their debt to other countries in the past year - I would disagree with your statement the US is not in debt to other countries

http://www.huffingtonpost.com/2011/03/02/biggest-us-creditors_n_830167.html#s247854&title=10_Switzerland_

The "official value" of an ounce of gold was put in place when the US government confiscated people's gold during 1933 and has no bearing on whether people have confidence in the US dollar or not.

And the price of gold reflects how much confidence people have in gold, as compared to the USD, which is basically a debt instrument. .

The "debt" that Ariana's rag is talking about is in the form of US Treasuries.

Iraq, on the other hand owes debt, mostly for bad deeds, which is generally considered non-negotiable.

If we take your approach, and pay them off, there would be no more USD paper money, and we would do business in coin.

Gold was officially $20.00 at the start of the execution oh HR1491 in 1933. It was declared to be $35.00 at the end of confiscation; which inflated away 75% of government debt.

Nixon declared it worth somewhere around $42.50 when he delinked us from gold. From each point, gold has remained a tangible, weighable commodity. All that has changed is the buying power of the cash it takes to purchase it. We loosely refer to this as inflation.

One ounce of gold today will still purchase what one ounce purchased 200 years ago, or even in Caesar's time.

Gold doesn't change; only the value of the currency used to purchase it does. When people place more confidence in gold, they are placing less confidence in dollars.

The definition of inflation is too much money chasing too little product

The gold never changes it's weight or molecular structure....

The only thing that has changed is the value of the dollar, which is backed by the faith and confidence of the American public.

When other countries choose to peg to it, they take the same ride.

[dinarck]

Thankyou Dalite. I have to add that the value of the dollar is not only determined by the faith and confidence of the American public but also by the global public. The dollar is in demand in countries all around the world. Just about anywhere on earth it has value. Unfortunately politicians use this as an excuse to spend us into oblivion thus diminshing that faith and confidence slowly but surely. For now the dollar is king. I for one hope it stays that way. It should also be noted that the majority of millionaires and billionaires world wide have a large percentage of their assets in American dollars. Hopefully this will be a factor in attempting to maintain its value.

Edited August 8, 2012 by dinarck

[umbertino]

I hope nerd is still around.