msmortgagewiz Posted August 25, 2012 Report Share Posted August 25, 2012 Mort, I think that there is more being accomplished out of Stutgart over wienersnitzel and streudel than Baghdad can even imagine, and that is probably what is bothering Maliki & Company. I also think that the National Conference will be a "be there or be square, no levis or capris please" type of event. When the lights go down and the screen drops from the ceiling, the attendees will be told what has been accomplished, decided, and how to vote come Monday morning. Who knows maybe Talabani is smarter than the average bear. GERMANY & IRAQ historical overview •Long lasting cordial relationship between the two countries for decades. •Germany has always been one of the main trading partners to Iraq •Close bilateral relationship of HypoVereinsbank to Iraqi governmental banks (Central Bank, Rafidain Bank and Rasheed Bank). •For years Hypovereinsbank was one of the leading German banks using the oil-for-food program to Iraq (in place until 21.11.2003). •HypoVereinsbank was the sole German banking institution participating in the consortium for Trade Bank of Iraq ("participating bank" in 2004 and "operating bank" from 2005). •In 2004 Germany agreed to a debt relief of 80 % amounting to EUR 4,7 bn. http://www.numov.org/Praesentationen/business-forum/Project%20Financing%20in%20Iraq%20-%20Ralph%20Eckle%20-%20UniCredit%20Bank%20AG.pdf 1 Link to comment Share on other sites More sharing options...
zigmeister Posted August 25, 2012 Report Share Posted August 25, 2012 Who told you I have them? Trixie, Trigger, or Shelley? Loose lip sinks ships. Link to comment Share on other sites More sharing options...
msmortgagewiz Posted August 25, 2012 Report Share Posted August 25, 2012 Hey Mort! I hope you were dreaming of a sweet RV in your happy nappy. See you soooooon.... Also, since we have wish lists (why not, there is nothing else going on at the moment)t I am interested in the CBI selling gold coins. I just posted an article about the CBI giving a parliamentry committee an orientation on the gold idea. I would like to know what you guys are thinking on what this means for us, if anything, not only prior to the RV , but afterwords and our opportunities to buy the coins. I appreciate your input very much. Gold coins & others in CBI auction method to reduce the price of the dollar against the Iraqi dinar Rikabi said (to news agency news): there is a new strategy followed by the Central Bank to reduce the US dollar to Iraqi dinar by selling gold coins and other currencies besides the dollar in public auction, what makes demand for buying the dollar less so it will maintain the stability of the local currency in exchange for hard currency. He added: the new orientation by the Central Bank to sell currency auction will be processed by inflation in the dollar versus the dinar because there is strong criticism of the policy of the Central Bank because of continuing high dollar local market led to the use of Central Bank policies and ways out of this crisis. The Central Bank had announced earlier that it is developing a feasibility study for the sale of gold coins and cash and other foreign currencies alongside the Treasury remittances to the public soon, indicating that this procedure was in place previously in the 1980s, but the embargo in the 1990s made the citizens focused on buying the dollar to easily discharged. One word.....Dedollarization http://www.ikhnews.com/news.php?action=view&id=53033 Link to comment Share on other sites More sharing options...
zigmeister Posted August 25, 2012 Report Share Posted August 25, 2012 One word.....Dedollarization Okay folks what I am seeing is crunch time for CBI. The boys on the financial committee(GOI) are not impressed with the situation, and they are not being easily herded to start printing the new dinar. So the CBI is scrambling for a way to dedollarize Iraq. Personaly I think those pretty gold coins are just a few feet away. The Central Bank had announced earlier that it is developing a feasibility study for the sale of gold coins and cash and other foreign currencies alongside the Treasury remittances to the public soon, indicating that this procedure was in place previously in the 1980s, but the embargo in the 1990s made the citizens focused on buying the dollar to easily discharged. The question is, will this move an RV in position? I don't know.....I mean I wanted to discuss Prince Harry's missing pants in Vegas today! 2 Link to comment Share on other sites More sharing options...
msmortgagewiz Posted August 26, 2012 Report Share Posted August 26, 2012 One word.....Dedollarization Okay folks what I am seeing is crunch time for CBI. The boys on the financial committee(GOI) are not impressed with the situation, and they are not being easily herded to start printing the new dinar. So the CBI is scrambling for a way to dedollarize Iraq. Personaly I think those pretty gold coins are just a few feet away. The Central Bank had announced earlier that it is developing a feasibility study for the sale of gold coins and cash and other foreign currencies alongside the Treasury remittances to the public soon, indicating that this procedure was in place previously in the 1980s, but the embargo in the 1990s made the citizens focused on buying the dollar to easily discharged. The question is, will this move an RV in position? I don't know.....I mean I wanted to discuss Prince Harry's missing pants in Vegas today! I think YOUTUBE has that video Zig.... Link to comment Share on other sites More sharing options...
Francie26 Posted August 26, 2012 Report Share Posted August 26, 2012 "American law" ...no it's referred to as our tax code...& the Dinar will never be more valuable then our dollars...unless it RVs...which is why we are here.....having said that...are you kidding me with the "investing in gold mines, oil wells, etc."...are you referring to actual US public companies or something else???? investing in gold mines, oil wells, etc."...-- haha I don't know. I was just throwing out wild investments that are beyond anything I know about. Link to comment Share on other sites More sharing options...
Carrello Posted August 26, 2012 Report Share Posted August 26, 2012 Who knows maybe Talabani is smarter than the average bear. GERMANY & IRAQ historical overview •Long lasting cordial relationship between the two countries for decades. •Germany has always been one of the main trading partners to Iraq •Close bilateral relationship of HypoVereinsbank to Iraqi governmental banks (Central Bank, Rafidain Bank and Rasheed Bank). •For years Hypovereinsbank was one of the leading German banks using the oil-for-food program to Iraq (in place until 21.11.2003). •HypoVereinsbank was the sole German banking institution participating in the consortium for Trade Bank of Iraq ("participating bank" in 2004 and "operating bank" from 2005). •In 2004 Germany agreed to a debt relief of 80 % amounting to EUR 4,7 bn. http://www.numov.org/Praesentationen/business-forum/Project%20Financing%20in%20Iraq%20-%20Ralph%20Eckle%20-%20UniCreing.estdit%20Bank%20AG.pdf Now that is interesting. Thanks. Link to comment Share on other sites More sharing options...
keylime Posted August 26, 2012 Report Share Posted August 26, 2012 What a great post....VERY well explained. As an English professor I find it very refreshing to read a lengthy article from a DV member that is basically free of grammar errors - and you can read the sentences ONCE instead of deciphering them. Blessed be... As for what was said, I agree. This may be unprecedented. Germany may be closest example - though they had hyper inflation before they were attacked. Rich country, war scenario, after the war, high currency. Key Lime - possibly you mean to say Iraq shares gov't with "Kurds" not "Kuwait" in the parag. about printing new notes to include the Kurds. I have heard arguments Saddam printed too much money and devalued the dinar before the war - not true to the extent they argue. The street value was about $1.90USD to a dinar at this time, possibly because of Saddam's overprinting, while the official rate was $3.22 - I give you that. BUT it was NOT devalued four thousand times as it was in the war. This is a different animal, this kind of devaluation. This feels more like a reinstatement of the original value after wartime devaluation. Thank you hame55. Very kind of you...Yes I meant "Kurds"...I concur with your assessment of "feeling more like a reinstatement...." Cheers and Beers! 1 Link to comment Share on other sites More sharing options...
Carrello Posted August 26, 2012 Report Share Posted August 26, 2012 investing in gold mines, oil wells, etc."...-- haha I don't know. I was just throwing out wild investments that are beyond anything I know about. I think most understood what you were getting at, Francie. No, but Dinarck may give you his. But those dinars are covered in Ding Dong and Doritos fingerprints. 2 1 Link to comment Share on other sites More sharing options...
keylime Posted August 26, 2012 Report Share Posted August 26, 2012 Keylime: Everything you said would be accurate EXCEPT for a couple of glaring points... #1: The Iraqi dinar was ARTIFICIALLY devalued when Sadam attacked Kuwait, therefore it went from $3.22(and no that wasnt just Sadam's rate) back in the 1980's to less than it even is now...which means it can be REVALUED over 100% at anytime to give it back its former "glory" so to speak... ~~~~~~~~~~~~~~~~~~ Tenmillion: UN sanctions UNSC 661 - They began August 6, 1990, four days after Iraq's invasion of Kuwait, stayed largely in force until May 2003 (after Saddam Hussein's being forced from power), and certain portions including reparations to Kuwait persisting later and through the present. UNSC 1483 - Chapter 7 In the 1980s Iraq had an advanced economy (centrally directed) ~ an industrial sector, a developed transport system, good infrastructure, and a well-educated population. After the first Gulf war, everything in Iraq decayed, declined, or deteriorated. So to compare the IQD to prewar levels with the hope that it will return to its previous Saddam era level at this time is inaccurate. Iraq needs a sound monetary system and a market-oriented banking and financial system, oil field restoration, developed infrastructure, and political stability....and that is the short list There are signs of improvement, but Iraq is nowhere near what it was in the 1980s It only takes a few swipes of the pen to catapult Iraq right back to prominence....in fact the 1980's are going to pale in comparison to the near future of Iraq....The powers that be are fast tracking, streamlining, and hand massaging this well thought out "PLAN" into existence....We are truly on the tunnel light side of this ride....We don't even know the half of what is going on in the back rooms of this adventure....but we certainly stand to reap the rewards when it does..... Link to comment Share on other sites More sharing options...
Carrello Posted August 26, 2012 Report Share Posted August 26, 2012 It could be worse. We are loosing it, aren't we. I think I will get out the Cheech and Chong movies, an 'apertif', lemonade and big piece of vanilla cake. Oh, geez. I probably will make someone angry by talking about something off topic. Darn. I'll punish myself and just watch a Cheech movie. Link to comment Share on other sites More sharing options...
zigmeister Posted August 26, 2012 Report Share Posted August 26, 2012 We are loosing it, aren't we. I think I will get out the Cheech and Chong movies, an 'apertif', lemonade and big piece of vanilla cake. Oh, geez. I probably will make someone angry by talking about something off topic. Darn. I'll punish myself and just watch a Cheech movie. Is this a good time for a recipe for cheese balls? Link to comment Share on other sites More sharing options...
rockfl9 Posted August 26, 2012 Report Share Posted August 26, 2012 Keylime ::::::Please tell WHO has that magic pen to solve all of Iraqs problems??? ;;;;;; Link to comment Share on other sites More sharing options...
zigmeister Posted August 26, 2012 Report Share Posted August 26, 2012 A dear LOPster [] not long ago pointed out to me that the D-Mark experienced its highest revaluation at only 5%. Its predecessor was the Reichsmark, which had lost all value with the presumed demise of the Third Reich. Without a reinstatement of sorts, Germany would still be currency poor. Although they did not describe it in the exact terms of reinstatement, this is precisely the scenario that was painted in the new movie, "Hit and Run." Caveat emptor: Actor Dax Shepard is actually making fun of the Iraqi dinar investment. I suspect he is merely doing his masters' bidding as a brainwashed, liberal Hollywood shill. Oh, darn. I said "liberal." You said liberal. This thread is going south. Link to comment Share on other sites More sharing options...
BradyBear Posted August 26, 2012 Report Share Posted August 26, 2012 Where is or beloved Leader Adam, would like to hear his opion on this matter. Link to comment Share on other sites More sharing options...
GotSix Posted August 26, 2012 Report Share Posted August 26, 2012 You said liberal. This thread is going south. It's ok to reference "liberal" as long as you "ain't" one Link to comment Share on other sites More sharing options...
Carrello Posted August 26, 2012 Report Share Posted August 26, 2012 It's ok to reference "liberal" as long as you "ain't" one You're surrounded, friend. We like to keep our politics to ourselves. Link to comment Share on other sites More sharing options...
GotSix Posted August 26, 2012 Report Share Posted August 26, 2012 (edited) You're surrounded, friend. We like to keep our politics to ourselves. Understood Edited August 26, 2012 by GotSix Link to comment Share on other sites More sharing options...
keylime Posted August 27, 2012 Report Share Posted August 27, 2012 Keylime ::::::Please tell WHO has that magic pen to solve all of Iraqs problems??? ;;;;;; It won't solve all of their problems but in a day they could agree on the ministers and the oil and gas laws, which would allow them to "cross their eyes, and dot their t's"....and light up the RV....watch the man with the pencil he's the one keeping score.... Personally, I like the month of August for what ails ya....magic pen? with invisible ink that can only be read with lemon juice? Link to comment Share on other sites More sharing options...
hame55 Posted August 27, 2012 Report Share Posted August 27, 2012 Thank you hame55. Very kind of you...Yes I meant "Kurds"...I concur with your assessment of "feeling more like a reinstatement...." Cheers and Beers! You're very welcome. It seems Sans Souci also agrees there might be a reinstatement scenario. This seems most likely for a large, quick RV. If not, then a continuation of the long upward climb we have already experienced, from 4000 to 1165 dinar to dollar. Could very well go to 1000 per dollar, then 500, then 100, then a dime...I'm starting to sweat... But seriously I would be happy with the saudi rate around a quarter - that would be a great profit. Link to comment Share on other sites More sharing options...
Carrello Posted August 27, 2012 Report Share Posted August 27, 2012 Is this a good time for a recipe for cheese balls? Yes! It is always a good time for cheeseballs. I feel guilty though...cheeseballs are Chong's favorite. 1 Link to comment Share on other sites More sharing options...
zigmeister Posted August 27, 2012 Report Share Posted August 27, 2012 Yes! It is always a good time for cheeseballs. I feel guilty though...cheeseballs are Chong's favorite. :D :D Link to comment Share on other sites More sharing options...
keepmwlknfny Posted August 27, 2012 Report Share Posted August 27, 2012 You're very welcome. It seems Sans Souci also agrees there might be a reinstatement scenario. This seems most likely for a large, quick RV. If not, then a continuation of the long upward climb we have already experienced, from 4000 to 1165 dinar to dollar. Could very well go to 1000 per dollar, then 500, then 100, then a dime...I'm starting to sweat... But seriously I would be happy with the saudi rate around a quarter - that would be a great profit. I used to think that a reinstatement could be a good possibility but doing that would send inflation through the roof.....how do you think they could or would manage that? Link to comment Share on other sites More sharing options...
caz1104 Posted August 28, 2012 Report Share Posted August 28, 2012 Just my opinion. The rate is not correct. It has been manipulated. I don't believe the money supply to be 70 trillion. I dont care what the CBI documents clearly show. I believe the CBI has 2 sets of books. The World Bank, IMF and Fed are all in this. Saddam tryed to manipulate the USD and thats the real reason we took him out. Not oil Not WMD. World wide experiment in fiat currency is coming to an end. Every country that has used a fiat currency has failed 100 % of the time. This Probably should have happened already but the crash of 2008 changed everything . The plan had to be rewritten. USD is worthless, Our headline inflation is well into double digits. Core inflation numbers are worthless and fabricated. Look at the price of Gas Its over Double what it was 4 years ago. DOUBLE!!! Anyone Buy a loaf of bread lately Our standard of living is in a downward spiral. Very little left to borrow, Most have or are using up their savings. The 99 percent people are wanting more from government but this is what caused the problem in the first place. Welfare, pensions, entitlements. Where does this money come from. The treasury borrows from the Fed and they print it up which increases the money supply which creates runaway inflation. We could never cover the Government Bonds ( IOUS ) issued. Never and yet the money is owed plus interest. Although Iraqs foreign reserves are held at the fed. They really don't exist other than IOUs Iraq can back its currency with oil. Thats more than the USA can say. A heck of alot more. Remember this is just my opinion, No real reason to debate or reply why Im wrong. Won't change what I believe. BTW Everyone complains about the Guru's so why do people even read their stuff.? I dont. "everyone complains about the guru's so why do people even read their stuff.?" 100% agree! For those that read & believe what the "guru's" put forth,bless you. For those that read & don't believe,why put yourself through the agony. But to each his own I guess-Peace. Link to comment Share on other sites More sharing options...
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