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JayLee202

Reason there's no RV yet

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There are 2 articles that surfaced today witch (in my opinion) confirms why the IQD has not RV'd as of yet.  Any currency is just what it is if it doesn't have anything supporting it.  The word "Currency" means current.  To be current, it has to stay moving as flow.  This is why the USD has no value today.  Because it's no longer money, it's money has became currency since the Nixon Administration took it off the gold standard in the early 1970s.  The ERISA Act was created because people could no longer retire and their employer take care of them.  The ERISA Act is the reason why we have 401K today, making you accountable for contributing to your own retirement.

Here's info on ERISA: http://www.dol.gov/compliance/laws/comp-erisa.htm

Now let's look at the IQD. Nothing is backing the currency right now.  Even if the economy was backing it, it would not be worth anything still because the economy has declined and is not up to standard to move the currency value upward.  No economy increase, no RV. 

The Iraq economy will not incline without production of oil and the growth of private businesses.  Of course there are other things that needs to be passed first such as the HCL Law etc which we'll see how that starts out on the 19th.  But regardless what's voted on, keep your eye on not just the meetings but the incline of the economy itself because then and only then will we see the incline in the IQD Exchange rate.  So here's two articles which leads to my speculation. 

 

Developing Iraq’s economy requires revitalizing private sector, businessmen

 

UN Rep Kubler: Development of private sector in Iraq, a common goal for the Iraqi government and the UN

 

So for those who are claiming an over night RV at 3,4,5 dollars is Hog squash (In My Opinion).  Don't get me wrong, I would love a high rate but being honest, I don't see that happening for a while.  So sit back and hold tight my fellow dinarians.  We will be in the right place soon.  If that's called a free float then oh well, I wouldn't think negative about a float either because it could be a very fast float.  Who knows?  Time will tell.

Much Love

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IMO...They will always do the opposite of what they tell us, as per any benefit for us....forget all the logical theories and negative articles to a point...watch the trillions that are moving into Iraq that they dont tell us about....follow the money and you will do better than following the rhetoric...lol....

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If you move money into Iraq without anything to back it, you still have just  currency with no value.  You can't back currency with currency.  You need something tangible with great value backing it.  In other words, you cannot back and RV with currency.  That's just money law

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Good Point.Would be interesting to hear what you are hearing out of Washington these days on this as well, if anything you might be willing to share?

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all currencys are fiat .. that means nothing backs them besides the credit rating .. currencys are backed by goods and services  if you have nothing for sale then your currency is worthless

Edited by dontlop
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Good Point.Would be interesting to hear what you are hearing out of Washington these days on this as well, if anything you might be willing to share?

At this point, I'm not hearing anything out of DC.  I will share as I receive information but without anything I can post for others to read, it wouldn't really hold to much.

all currencys are fiat .. that means nothing backs them besides the credit rating .. currencys are backed by goods and services  if you have nothing for sale then your currency is worthless

Thank you, absolutely

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K.Thanks Jaylee.I will be interested in hearing what comes out in the future.Thanks for getting back to me in a timely fashion.

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K.Thanks Jaylee.I will be interested in hearing what comes out in the future.Thanks for getting back to me in a timely fashion.

My pleasure

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Apparently you can have currency without anything backing since we have been doing it since Nixon took us off the gold standard.

 

You're absolutely right, but the question is what's the value of the currency because of it?  If you have nothing to lift Iraq's economy then the currency will be worthless.

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ALL currency is WORTHLESS in reality...it's what the one's in control of ANY of it DOES that matters...go figure...it is'nt hard if one thinks a little?...lol....

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I am not economic expert but why can't Iraq back there currency with there proven natural resources. I thought I saw something about the UN or IMF deciding this was indeed acceptable. Certainly gold can be used so why not black gold? Even if it is still in the ground it is like gold in a vault and can be recovered for it's value.

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Iraq has the resources to back up and do anything it wants to do with it's currency...it's just when, and that is due to when they are allowed to do this...this is no different in comparison than why the U.S. Dollar is still standing, while some economists and monetary experts have stated that the U.S. Dollar in reality is only worth .03 cents as per some extensive studies.....but the U.S. Dollar sure goes further than that does'nt it...(sometimes NOT..lol)....but for how long can the U.S. Dollar continue like this with "no real value" either?....who knows...so who is in control of that fiasco?....On another note, could something re-prop up the U.S. Dollar again?....It gets too deep...some use their brain and get the idea...some dont...some hold dinars and other currencies...some dont...get the hint?...It's just a game in reality...One big monetary shell game...lol...

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You're absolutely right, but the question is what's the value of the currency because of it?  If you have nothing to lift Iraq's economy then the currency will be worthless.

A lot of the oil sales are being funneled into the economy. The budget basically shows that, whether it be money into basic services such as education, infrastucture, or health services. Their government at this moment seems to have too many restrictions from foreign countries which may be good or bad depending on how you view it. The KRG region is booming as they have allowed foreign investors in with open arms. They're easier to deal with while Bahgdad is a different story. I think I recall that foreign companies can not own land in Iraq, but it is differen in terms of the Kurdistan region. Look at the differences between those two areas and tell me which one you think is booming at the moment.

 

But, why is it possibly good or bad? Restricting foreign investment to certain levels such as preventing foreign land ownership may help boost a private sector. The private sector may be gradually improving, but the gradual improvements wouldn't happen really at all if foreign companies swooped in and offered their goods/services and ran away with the profits. It seems like a catch/22 situation, as foreign investment can act as a boost to the private sector, but the foreign investors won't step in until the economy seems stable enough to be seen as profitable.

I am not economic expert but why can't Iraq back there currency with there proven natural resources. I thought I saw something about the UN or IMF deciding this was indeed acceptable. Certainly gold can be used so why not black gold? Even if it is still in the ground it is like gold in a vault and can be recovered for it's value.

 

It would be hard to deem black gold as a resource to back a currency. Simply because the black gold is sold in dollars on the market. One of the things that helps the dollar maintain such a high value is how it is needed to buy oil. If oil was sold in other currencies as well, our dollar would take a significant dive. The natural resources however, are an asset and they do also drive income into the country. Whether it be crude oil, natural gas, precious metals, precious minerals, and agricultural, they all will drive value into the country when it is exported.

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ALL currency is WORTHLESS in reality...it's what the one's in control of ANY of it DOES that matters...go figure...it is'nt hard if one thinks a little?...lol....

All currency is distributed on faith...money is a belief system.... We believe it has the value that we ascribe to it...and in easy to recognize units, we use that currency for commerce. When we stop believing......then the jig is up. I understand that several states in the US are starting to use their own currency and ditching the USD...is that correct?

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All currency is distributed on faith...money is a belief system.... We believe it has the value that we ascribe to it...and in easy to recognize units, we use that currency for commerce. When we stop believing......then the jig is up. I understand that several states in the US are starting to use their own currency and ditching the USD...is that correct?

Yes

It is faith and Iraq will revalue and people willt ake it at face value, knowing its mineral/oil wealth

As for currencies in US - a friend of mine was imprisoned for two years by the FEDs for using and promoting silver dollars over the USD in a local city - he was later released, charges dropped. TERRIBLE HARRASSMENT>

We can legally use alternative currency in the US - the "Ithica dollar" in NY as an example

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Here's one to ponder...why did it take almost 5 U.S. Dollars in the 30's and 40's...to buy 1 Iraqi Dinar...and this was when the U.S. had more of a gold backing with a strong U.S. Dollar, and Iraq was not doing much back then like today..and oil was probably only 1 or 2 bucks per barrel...I could go on and on and on...but there is just too many questions, anomolies, mysteries, truths & fictions, or whatever one wants to call them..as per all of this...IMO..just either ignore the investment, or if you dont like it, and your in it, just dump it and run, or get in and ride and/or hang on until the end.....

 

The way I see it...they have had 10 years to have already beaten dinar holders and have'nt yet...now trillions of infrastructure and oil developments have moved in...so, if they want to go forward, would'nt it make more sense to have a currency that would back all of the investments...no different in contrasts to if the U.S.Dollar fell to a nickel or the price of the Dinar tomorrow...who would touch us?...And we are'nt doing anything here, but Iraq is!..lol..

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The value in the past is irrelevant.  The money supply was completely different at that time.  You can't realistically evaluate the dinar today without taking into consideration the tens of trillions in circulation.

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I saw a video just a while back, then it was pulled, it depicted an asian guy at the U.N., to the best of my memory, showing where there was 3.6 quadrillion U.S. Dollars out there, that's 3600 Trillion U.S. Dollars, I remember as he showed all the figures of where some of it went, there were like 138 Trillion in a half dozen or so places that the U.S. Dollars were allocated to....(Many of us watched this before it was removed, and the guy posting it claims he was threatened for revealing this info., but who knows)....I not only since then have quit worrying about how little Iraq had, especially when I dont know for sure what the U.S. really has out in U.S. Dollars and where......but do we even know what Iraq has, or is it just what they say that they have...or does it even really matter?...lol...

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The value in the past is irrelevant.  The money supply was completely different at that time.  You can't realistically evaluate the dinar today without taking into consideration the tens of trillions in circulation.

yep

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The reason many hold dinars and many other foreign currencies, (yes, undervalued ones included, even of various types)...is due to the inflation that is eating up their U.S. Dollars...and/or any U.S. Dollar Holdings as well...This is a no-brainer...take a few dinars that have been held long term for an example...they are either the same or have gained some value.....Then simply take the U.S. Dollar...I've lost from 20-to-100% in buying power on some things that have went up in price..sure I did'nt lose U.S. Dollars physically out of my pocket....but I lost them dramatically through inflation....regardless of how many U.S. Dollars or Iraqi Dinars are out there...some get it, some dont....just find an old sales paper with former prices from a year or so ago, you'll figure it out that way....lol...

 

On another note, I saw 4 or 5 years ago, several articles where Templeton Funds I believe it was, had appx. 5.4 % of their portfolio invested in Iraq...while many I know were advised against doing anything in "emerging markets"..as per the advice from many experts, but some did anyway...and they had great gains while others lost much if not all..in all U.S. denominated and controlled investments...this is another no-brainer for some...but not for others..most cant concieve anything because it has'nt happened..or yet...just like the investments that many lost in...as all they could see was the hyped investment rhetoric....lol...

 

Conclusion and IMO: The more negativity and bad I hear about this...the better I like it...as long term there's been no losses for the most part for anyone...so, until it's all over as per the final bell being rung as per the finality of it all...why sweat it?....Why go chasing ghosts of anything and everything that WONT work, when neither good or bad has been proven?....IT AINT OVER TILL IT'S OVER!...lol....

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If you move money into Iraq without anything to back it, you still have just  currency with no value.  You can't back currency with currency.  You need something tangible with great value backing it.  In other words, you cannot back and RV with currency.  That's just money law

I started a thread on this a while ago - why can't they just go on using the dollar? They get oil dollars. They can use dollars to buy export/import goods. So no problem bringing exports into the country. No shortage of buying power.

 

And if Iraqis are paid in dinar, making equiv. of $3000/yr. in dinar, why RV and make all Iraqis millionaires?

I saw a video just a while back, then it was pulled, it depicted an asian guy at the U.N., to the best of my memory, showing where there was 3.6 quadrillion U.S. Dollars out there, that's 3600 Trillion U.S. Dollars, I remember as he showed all the figures of where some of it went, there were like 138 Trillion in a half dozen or so places that the U.S. Dollars were allocated to....(Many of us watched this before it was removed, and the guy posting it claims he was threatened for revealing this info., but who knows)....I not only since then have quit worrying about how little Iraq had, especially when I dont know for sure what the U.S. really has out in U.S. Dollars and where......but do we even know what Iraq has, or is it just what they say that they have...or does it even really matter?...lol...

RIGHT!

I posted on this a while back and got slapped - circulation numbers in the trillions for the USD worldwide. Look, who would be motivated to keep track of all the USD printed? They would not print the #'s  - it would cut faith in the dollar globally. I'm sure the numbers are very high. It's all faith, and the fact that it is reserve currency and commodity currency globally. This is another reason that I don't worry too much about Iraq's reserves.

What I do worry about is their using dollars for another decade. They have no real reason to use dinar

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From what all is gathered...money is basically electronics and pencil etchings on ledgers...at least to a degree...yes, we still have to have the paper currencies, but, those that control the flow of it and the printing...control the rest as well...it is hard to concieve...but, we may never know the whole story on how this is all working, but for those that can keep it simple...

 

Iraq is doing things and going places monetarily..this is not only Biblical as per their future and what they will be, but it is evident as per the trillions that have moved into that place...I call it "follow the money" and "betting on the winning horse"...

 

(IMO...a man with an IQ of a 1, with one leg and one eye...should be able to see this, if he can prop himself up, and can peek through the portal enough to see what is happening..lol)........those that cant should'nt even be on here IMO...

 

As for Iraq, I dont know what they will do exactly and how...that is why there are risks, and things like that are called investments..hoping for gains...but if they cant make it with all that is going on..who can?...I will leave it at that and let wavering and wandering minds figure the rest of it out...lol...

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