Zambia zeroes in on new banknotes

[JoeFriday]

In another forum (where I can not post) Biker says

And just remember folks, for years Iraq has told time and time again that they would not lop and screw country's and folks out of money, they don't want to have country's not trust them.

How does an RD screw anyone out of anything (other than showing that an RV is a fantasy, but Iraq certainly never told anyone that if you buy their currency they will repay you 1000 fold).

[pocono]

In another forum (where I can not post) Biker says

How does an RD screw anyone out of anything (other than showing that an RV is a fantasy, but Iraq certainly never told anyone that if you buy their currency they will repay you 1000 fold).

[/q

Edited November 27, 2012 by pocono

[caz1104]

Is everything an opinion with no truth possible? You say you know the risks, but your hope that the known facts of Iraq's economy and currency are simply false indicates you do not know since how could that be possible on a scale to make even a 1 penny RV possible?

Suppose just as a thought experiment, that an RV is in fact impossible . Given that hypothetical would you say you know the risks? Merely using the phrase "risks" indicates to me you do not know since if there is no possibility of a profit then a lose is certain. That isn't a risk, its a certain loss.

Using your experiment,knowing that an RV is impossible,why did you invest? Did you not know the risks? If you know the answers to what exactly is going to happen,now what? Yes I believe most of what is stated in these forums are opinions,and thats ok by me. I do know risks here and in my business world,not all come to fruition. It sounds like you believe this to be a certain loss,I do not-simple. Could I be wrong.....yes as could you. At least I an open to the possibilty,if I was'nt I would merely sell my Dinar as many (including Dinarck) have done. If I sold out I would not waste my time visiting sites such as this.I wonder about the sanity of those that continue to visit,but hey thats just me. I think our conversation is over for neither has swayed the other and again thats ok by me. I wish you well in future investments

[dinarck]

Using your experiment,knowing that an RV is impossible,why did you invest? Did you not know the risks? If you know the answers to what exactly is going to happen,now what? Yes I believe most of what is stated in these forums are opinions,and thats ok by me. I do know risks here and in my business world,not all come to fruition. It sounds like you believe this to be a certain loss,I do not-simple. Could I be wrong.....yes as could you. At least I an open to the possibilty,if I was'nt I would merely sell my Dinar as many (including Dinarck) have done. If I sold out I would not waste my time visiting sites such as this.I wonder about the sanity of those that continue to visit,but hey thats just me. I think our conversation is over for neither has swayed the other and again thats ok by me. I wish you well in future investments

Caz.....Do you believe an overnight "RV" to one USD is possible? Is so please explain why. Maybe you dont know what to believe. Maybe you believe nobody knows. LOL. Maybe you are a forum troll paid by dinar dealers to cheerlead stupidity to people who will actually believe it. Maybe not. One thing is for sure. You have a serious problem with anyone who speaks economic fact on this site. And no not my facts Caz....actual economic facts that have been explained to you thousands of times over. Funny how you are quick to discount those facts. Makes me wonder what your angle is. You really think you still have a possiblity of becoming rich here or are you already getting paid? Who knows. Go ahead and keep pumping your hope there Caz. Doesnt change anything. Economics will still never allow your "dream" to come true.

[JoeFriday]

Using your experiment,knowing that an RV is impossible,why did you invest? Did you not know the risks?

Obviously at that time I did not know the facts and let emotion get the better of me letting myself think somehow it could work, just like the position you are in now, and you declined to engage in my thought experiment.

Yes I believe most of what is stated in these forums are opinions,and thats ok by me.

So there no facts knowable about Iraq and all we can do is offer opinions? If that indeed is your viewpoint, there is likely little point in continuing, as we both have said, so no need to respond if you would rather not. Thinking isn't always pleasant.

If I sold out I would not waste my time visiting sites such as this.I wonder about the sanity of those that continue to visit,but hey thats just me.

Everyone is here for the same reason, the discussion. Your insults to those that participate in such discussion but do not own dinars is pointless. What difference does that make? The facts are still the facts.

[caz1104]

Caz.....Do you believe an overnight "RV" to one USD is possible? Is so please explain why. Maybe you dont know what to believe. Maybe you believe nobody knows. LOL. Maybe you are a forum troll paid by dinar dealers to cheerlead stupidity to people who will actually believe it. Maybe not. One thing is for sure. You have a serious problem with anyone who speaks economic fact on this site. And no not my facts Caz....actual economic facts that have been explained to you thousands of times over. Funny how you are quick to discount those facts. Makes me wonder what your angle is. You really think you still have a possiblity of becoming rich here or are you already getting paid? Who knows. Go ahead and keep pumping your hope there Caz. Doesnt change anything. Economics will still never allow your "dream" to come true.

Oh Lord the "i'm more intelligent than you" approach

The facts are IRAQ has neither RD/LOP or RV/RI so anything other than that is utter nonsense or speculation. So unless you can proove otherwise you have no facts. Please explain to all your currencey speculation expertise then explain again with all that expertise why you invested..................uh thought so just another blowhard that just thinks they can bully others. So as you "dream" that you know all just remember..............you don't. I am neither a "troll" or a "pumper", I am a self made man that believes in self responsibilty and does'nt blame others for my circumstance. I do not listen or believe anything stated on any forum in regards to anything from a "guru","pumper", or a "LOPster" period, nor am I paid by anyone for they could not afford me. The hate spewed by some here in regards to blame is childlike imo. So in closing you can believe whatever you wish I could care less,but no one should be degraded or talked down to because they do not believe as you-simple.

Obviously at that time I did not know the facts and let emotion get the better of me letting myself think somehow it could work, just like the position you are in now, and you declined to engage in my thought experiment.

So there no facts knowable about Iraq and all we can do is offer opinions? If that indeed is your viewpoint, there is likely little point in continuing, as we both have said, so no need to respond if you would rather not. Thinking isn't always pleasant.

Everyone is here for the same reason, the discussion. Your insults to those that participate in such discussion but do not own dinars is pointless. What difference does that make? The facts are still the facts.

Insults??? Lets see "thinking isn't always pleasant" .............nah no one would consider that an insult,get real. But you are correct it is pointless in a one sided conversation. You NOW believe in only one result and I believe there are multiple ways this can happen. Nothing wrong with either approach imo. I don't consider you "stupid","narrow minded" or "ill informed" for your view nor should I be chastised for mine.-peace

[JoeFriday]

Insults???

Your comment that you question the sanity of those that post here after selling their dinar, seems pretty insulting to me.

Lets see "thinking isn't always pleasant" .............nah no one would consider that an insult,get real.

It isn't always pleasant. Seeing the reality that you have fallen for a fantasy that will never happen isn't a fun thing.

But you are correct it is pointless in a one sided conversation. You NOW believe in only one result and I believe there are multiple ways this can happen. Nothing wrong with either approach imo. I don't consider you "stupid","narrow minded" or "ill informed" for your view nor should I be chastised for mine.-peace

I have never called you or anyone else here any of those things. But, there are NO ways a huge overnight RV can happen.

[hame55]

I should have also mentioned oil sales as that is likely the biggest increase. The GOI takes its royalties (in dollars) deposits them at the CBI and takes out dinars to pay items in its budget increasing M2 (but fully backed by the dollars that got added to the reserves, so not inflationary). An example of both GDP and M2 going up together.

So, Joe, as you state the dinar is just a lie. That means you have sold out your dinar and are here just as a good Samaritan to help us realize we must sell too.

Am I right?

[dontlop]

the true value of the dinar is only a program rate ,, it was set by the imf for monitoring ..the cbi cant change that rate

1170 is the rate set by the imf , not by anyone else .. they need to make future projections on iraqs economy it cannot be allowed to floats all over the place , the security situation and the govt of iraq is to unstable to let the dinar float..

3. For purposes of monitoring under the program, a program exchange rate will be

used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program

exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign

assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities

denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be

converted in U.S. dollars at their respective SDR-exchange rates prevailing as of

December 31, 2010, as published on the IMF’s website.

IX. Exchange rate arrangement:

The Central Bank of Iraq has been conducting foreign exchange auction on a daily basis

since October 4, 2003. The central bank followed a policy of exchange rate stability which

has translated in a de facto peg of the exchange rate since early 2004. However, from

November 2006 until end 2008, the CBI allowed the exchange rate to gradually appreciate.

As a result, the exchange rate arrangement of Iraq was reclassified to the category of

crawling peg effective November 1, 2006. Since the start of 2009, the CBI returned to its

earlier policy of maintaining a stable dinar. Consequently, the exchange rate arrangement of

Iraq was reclassified effective January 1 2009 as a stabilized arrangement.

Read more:

see the rates are set .. yes ,, set .. by the imf ..

todays rate is not tied to anything prior to 2003 .. its a set program rate .. every dollar iraq takes in it can be converted to dinar at 1166 per dollar .. its a set rate its not allowed to change yet

it 1166 now from 1170 . it changed earlier this year

it has nothing to do with saddams dinars or his inflation ..

or any inflation

if someone trys to minipulate the dinar the cbi will sell dinars at the set rate to bring the rates back to 1166 .. ..if you start selling dinars 500 for a dollar .. the cbi will still sell theres for 1166 .. for a dollar .. so no one will buy yours... the rates are kept through auctions

[keepmwlknfny]

the true value of the dinar is only a program rate ,, it was set by the imf for monitoring ..the cbi cant change that rate

1170 is the rate set by the imf , not by anyone else .. they need to make future projections on iraqs economy it cannot be allowed to floats all over the place , the security situation and the govt of iraq is to unstable to let the dinar float..

3. For purposes of monitoring under the program, a program exchange rate will be

used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program

exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign

assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities

denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be

converted in U.S. dollars at their respective SDR-exchange rates prevailing as of

December 31, 2010, as published on the IMF’s website.

IX. Exchange rate arrangement:

The Central Bank of Iraq has been conducting foreign exchange auction on a daily basis

since October 4, 2003. The central bank followed a policy of exchange rate stability which

has translated in a de facto peg of the exchange rate since early 2004. However, from

November 2006 until end 2008, the CBI allowed the exchange rate to gradually appreciate.

As a result, the exchange rate arrangement of Iraq was reclassified to the category of

crawling peg effective November 1, 2006. Since the start of 2009, the CBI returned to its

earlier policy of maintaining a stable dinar. Consequently, the exchange rate arrangement of

Iraq was reclassified effective January 1 2009 as a stabilized arrangement.

Read more: http://dinarvets.com...0#ixzz2DXhtXqcL

see the rates are set .. yes ,, set .. by the imf ..

todays rate is not tied to anything prior to 2003 .. its a set program rate .. every dollar iraq takes in it can be converted to dinar at 1166 per dollar .. its a set rate its not allowed to change yet

it 1166 now from 1170 . it changed earlier this year

it has nothing to do with saddams dinars or his inflation ..

or any inflation

if someone trys to minipulate the dinar the cbi will sell dinars at the set rate to bring the rates back to 1166 .. ..if you start selling dinars 500 for a dollar .. the cbi will still sell theres for 1166 .. for a dollar .. so no one will buy yours... the rates are kept through auctions

How can you say that the rate now has nothing to do with saddams dinars or his inflation?? If it wasnt for either of those two, the dinar could still possibly be in the 3 dollar range today....

[dontlop]

How can you say that the rate now has nothing to do with saddams dinars or his inflation?? If it wasnt for either of those two, the dinar could still possibly be in the 3 dollar range today....

total saddam dinars that were exchanged was 7 trillion . saddams notes were valued at 3000 dinars to one dollar ..

now theres 72 trillion dinars ,, and they are set at 1166 .. .. do some math and explain that to me

when they remove the zeros it comes out to just under a 4 dollar dinar

[JoeFriday]

So, Joe, as you state the dinar is just a lie. That means you have sold out your dinar and are here just as a good Samaritan to help us realize we must sell too.

Am I right?

Partially. I enjoy debate, as long as all sides are courteous. If I can save someone some money, that's even better.

Isn't that why you are here also, that you enjoy the discussion? i.e. if the dinar were to RV (an impossibility) there is no way you could miss it, it will make the news on every channel instantly. So there is no reason for dinar holders to be here either other than the community and discussion, is there?

total saddam dinars that were exchanged was 7 trillion . saddams notes were valued at 3000 dinars to one dollar ..

Under Saddam,but not when the new notes were issued. Then it was 1480 IQD / USD, then within a few months (as the figures became clearer I'm thinking) it was raised again to 1170. That points to having around $6B in reserves at that time.

now theres 72 trillion dinars ,, and they are set at 1166 .. .. do some math and explain that to me

Where is the problem? Now they have $68B in reserves (i.e. a bit more than they need at the current rate, but you can always peg lower. e.g. the Saudi's have 3x the reserves they need at their pegged rate but do not wish to raise it). Note that as GDP grows you must grow M2 as well or the economy does not have sufficient funds to run. As long as you raise reserves proportionately, its not inflationary.

when they remove the zeros it comes out to just under a 4 dollar dinar

What? When they remove the 3 zeros (if they do so) the new currency will be worth 1000 times the current currency so that's an 86 cent dinar, not a 4 dollar dinar. How did you get to $4?