My Take

[dontlop]

i will agree the official exchange rate for the kuwaiti dinar never changed .but it lost its market value . thats all i will agree to on the kuwaiti dinar ..

 

i will agree that the swiss dinar official exchange rate did change because it was demonetized .... but it did maintain  market value

 

i will agree that the swiss dinar did get re-monetized after the invasion .. and ill agree that it was given a legal tender statis after the invasion.. and ill agree that that only lasted for 4 months during the exchange

 

i will agree that the swiss dinar has an official exchange rate of zero up until the  conversion period  when all this took place

And I am sure the if you ask the South - they viewed it as worthless.... They had no desire for it.. So in their eyes it was worthless.

central iraq ...bagdad ...  the central government  , the central bank of iraq demonetized the swiss dinar its not a matter of who liked it .. law is law ..  

Edited April 4, 2013 by dontlop

[Brazen]

Wow....two people grasping at straws at the same time.

Was all of the Kuwaiti dinar selling for 6 cents during the war Dontlop. No....only desperate people were selling it for that. So we are in agreement that only a small fraction of the KD was sold low meaning the large majority wasn't. So tell me how the KD RVed? What only a small fraction did? Doesn't matter. You said 100 times Dontlop that the Kuwait dinar never RVed because the official exchange rate never changed.

We all know the story with the Swiss Dinar because Dontlop was kind enough to show proof that official exchange rates were never manipulated.

[Darin]

Wow....two people grasping at straws at the same time.

Was all of the Kuwaiti dinar selling for 6 cents during the war Dontlop. No....only desperate people were selling it for that. So we are in agreement that only a small fraction of the KD was sold low meaning the large majority wasn't. So tell me how the KD RVed? What only a small fraction did? Doesn't matter. You said 100 times Dontlop that the Kuwait dinar never RVed because the official exchange rate never changed.

We all know the story with the Swiss Dinar because Dontlop was kind enough to show proof that official exchange rates were never manipulated.

Regardless of how we view the events that unfolded for each situation, those who know of the situation and what may unfold had the chance to exploit & redeem profits...

[Brazen]

SO........BACK TO THE ORIGINAL POINT 30 PAGES AGO.

THERE IS NO SUCH THING AS GIANT RVS!!!!!!!!

[Darin]

SO........BACK TO THE ORIGINAL POINT 30 PAGES AGO.

THERE IS NO SUCH THING AS GIANT RVS!!!!!!!!

 

Looks like a huge RV to me

[dontlop]

 Dontlop was kind enough to show proof that official exchange rates were never manipulated.

SHOW ME WHERE I  SHOWED PROOF THAT THE SWISS DINAR WAS NEVER DEMONETIZED TO A OFFICIAL EXCHANGE RATE OF ZERO .AND THEN NEVER REVALUED  AFTER THE INVASION .

 

IF YOU CANT SHOW THAT YOU MUST BE LYING AGAIN .

The Swiss dinar appreciated because the Kurds continued to use it after the Gulf war while the Iraqi government declared that the Swiss dinar was no longer legal tenderand switched to the Saddam dinars. But Saddam printed up so many of his dinar that it's value dropped to almost nothing. The result was that the northern part of Iraq avoided the inflation that took down the value of the Saddam dinar. The Saddam to Swiss dinar remained at 100:1 from 1998 to 2002, but eventually reached 300:1 before falling to 250:1. The CPA ultimately pegged the currency at 150 Saddam dinars per Swiss dinar, altered the Swiss plates to the Saddam denominations, and the exchange ensued.

Read more: http://dinarvets.com...3#ixzz2PS722A2Q

 

it wasnt legal tender .. all you can quote before the invasions is market value rates .. no official rates .. so shall we revist the kuwaiti dinar situation where you claim the market rates have nothing to do with it .. because the official rates is all that matters .. the kuwaiti govt never changed the official rates so you say kuwait

Read more: http://dinarvets.com/forums/index.php?/topic/144066-my-take/page-49#ixzz2PSwGdciQ

 

 

BRAZAN >>> CAN YOU TELL US HOW A DEMONETIZED CURRENCY RETAINS ITS OFFICIAL EXCHANGE RATES AT A CENTRAL BANK

AND DONT TELL US ABOUT MARKET RATES .. EXPLAIN THE OFFICIAL RATE .

Read more: http://dinarvets.com/forums/index.php?/topic/144066-my-take/page-51#ixzz2PSxV6ySK

Edited April 4, 2013 by dontlop

[Brazen]

Your very own document that you yourself posted proved that the CBI never gave the Swiss Dinar an official exchange rate for the exchange. Instead the CPA gave the Swiss dinar an official conversion rate. So you provided proof that official exchange rates were never manipulated.

Hahahaha......good one Darin.

Dontlop are you now going to insist that there was a billions of percent RV of the Swiss dinar because the CPA deemed it legal tender for exchange?

So now you are on a legal tender tirade to keep the Swiss dinar RV lie going. Wow

[Darin]

I really do not see how this debate has continued for so long.

The GOI issued the Swiss dinar no longer legal tender in favor of the new Saddam dinar. Kurdistan remained loyal to the Swiss dinar and held the market value. Anyone who had Swiss dinar were likely only able to use it in that region. It basically became a community currency with no real backing other than the faith of the people who supported it. With such a wide acceptance of those who supported it, it would make sense to include it in an exchange when a new currency was issued especially as it would be a great opportunity to attempt to unite all the groups. The Saddam dinars were becoming highly inflated and those smart enough may have had a chance to maintain wealth or exploit the disparity.

 

Kuwaiti dinars were different... The official rate was maintained, but some may have lost their faith so the market value may have crashed to a point others could exploit & profit from it..

When it comes to any situation where we speculate, our overall goal is to profit.

Where do you hedge your bets? Where do you store your money to maintain or even increase wealth??

 

Which is basically why we are all here... to gain profits... If we didn't believe to see a possibility of profits, we should question whether or not we are here or why we're here...

Even if the Iqd becomesa bust, there are other opportunities to try and take advantage of (see the ISX).

[dontlop]

HERES WHAT THE LINK I POSTED SAYS ..

 

Legal tender” means Iraqi dinar banknotes and coins issued by the CBI, that are
valid and have not been repealed,

Read more: http://dinarvets.com/forums/index.php?/topic/144066-my-take/page-49#ixzz2PSz8QMBL

 

Section 2
Currency Exchange


The CBI shall be responsible for the exchange of Iraqi dinar banknotes currently
circulating in Iraq and may issue Administrative Instructions consistent with this
Order, for the purpose of implementing and facilitating the issuance of the New Iraqi
dinar and the currency exchange.

Read more: http://dinarvets.com/forums/index.php?/topic/144066-my-take/page-49#ixzz2PSzXyLi6

 

The CBI is, pursuant to Article 34 of the Central Bank of Iraq Law No. 64 of
1976, as amended, the sole authority in the Republic of Iraq vested with the power
to issue legal tender currency.

Read more: http://dinarvets.com/forums/index.php?/topic/144066-my-take/page-49#ixzz2PSztlofX

 

Section 5
Official Conversion Rates


The 1990 dinar banknotes and the Swiss dinar banknotes and coins shall be
exchanged against New Iraqi dinar banknotes at the official conversion rates of one

(1) 1990 dinar to one (1) New Iraqi dinar, and of one (1) Swiss dinar to one-hundredand-
fifty (150) New Iraqi dinars.
Section 6
Legal Tender Banknotes

 

1) During the conversion period, 1990 dinar banknotes, Swiss dinar banknotes and
coins, and New Iraqi dinar banknotes shall all be legal tender banknotes in Iraq
and each type of Iraqi dinar may be used as such in proportion to its Official
Conversion Rate.

Read more: http://dinarvets.com/forums/index.php?/topic/144066-my-take/page-49#ixzz2PT1Alf31

 

 

ALL THIS WAS WRITTEN AFTER THE INVASION .. IT DOES NOT SAY ANYTHING ABOUT THE SWISS DINAR WAS ALWAYS  LEGAL TENDER.. NOR DOES IT SAY ANYTHING ABOUT  THE  OFFICIAL EXCHANGE RATES OF THE SWISS DINAR  BEFORE THE INVASION

 

 WE ALREADY KNOW THE SWISS DINAR WAS DEMONETIZED .. YOU POSTED IT BRAZAN .. SO TO SAY  .. OVER AND OVER FOR DAYS .. THAT THE OFFICIAL EXCHANGE RATES WERE  THE SAME BEFORE THE CONVERSION PERIOD AS THEY WERE DURING THE CONVERSION PERIOD . IS JUST LYING ON YOUR PART

COALITION PROVISIONAL AUTHORITY ORDER NUMBER 43

NEW IRAQI DINAR BANKNOTES

Pursuant to my authority as Administrator of the Coalition Provisional Authority (CPA),
and under the laws and usages of war, and consistent with relevant U.N. Security Council
resolutions, including Resolution 1483 (2003),

Noting that different series of Iraqi dinar banknotes are currently circulating in Iraq,

Understanding that there is an urgent economic need for the issuance of banknotes that
will instill public confidence and facilitate the use of money for its traditional purposes;

Recognizing the need to strengthen the monetary and financial systems of Iraq, in order to
stabilize the economy and create monetary conditions for long-term growth;

Determined to provide a legal framework for the introduction of a new series of Iraqi
dinar banknotes to be issued by the Central Bank of the Iraq to replace the currently
circulating dinar banknotes;

I hereby promulgate the following

 

Section 1
Definitions


“CBI” means the Central Bank of Iraq.

“Conversion Period” means the period of time from October 15, 2003, up to and
including January 15, 2004.

“Legal instrument” means any legally binding legislative or statutory provision, act of
administration or regulation, judicial decision, contract, unilateral legal act, payment
instrument other than a banknote, and any other document or instrument with legal
effect.

“Legal tender” means Iraqi dinar banknotes and coins issued by the CBI, that are
valid and have not been repealed, which any debtor may legally use for payments of
all public and private debts, public charges, taxes and dues of any amount
denominated in Iraqi dinars and against which no creditor can legally refuse payment
of any amount due to him or her denominated in Iraqi dinars.

CPA/ORD/14 October 2003/43


“New Iraqi dinar” means the new series of Iraqi dinar banknotes that are issued by the
CBI after the date that this Order enters into force.

“1990 dinar” means banknotes issued by the CBI from 1990 up to and including the
date that this Order enters into force.

“Official Conversion Rates” means the rates of conversion set forth in Section 5.

 

“Swiss dinar” means banknotes and coins issued by the CBI from 1959 up to and
including 1989.

Section 2
Currency Exchange


The CBI shall be responsible for the exchange of Iraqi dinar banknotes currently
circulating in Iraq and may issue Administrative Instructions consistent with this
Order, for the purpose of implementing and facilitating the issuance of the New Iraqi
dinar and the currency exchange.

Section 3
Issue of New Iraqi Dinar Banknotes


1) The CBI is, pursuant to Article 34 of the Central Bank of Iraq Law No. 64 of
1976, as amended, the sole authority in the Republic of Iraq vested with the power
to issue legal tender currency. The CBI, under the supervision of the CPA, shall
issue New Iraqi dinar banknotes and determine the denominations, designs,
technical specifications, and other characteristics of New Iraqi dinar banknotes.

2) The CBI shall ensure that the banknotes redeemed against New Iraqi dinar
banknotes, as provided for by this Order, are safely, promptly and securely
destroyed.

3) The CBI shall also decide on the volumes, costs and other particulars related to the
production and distribution of the New Iraqi dinar banknotes and on the collection,
transportation, and destruction of the banknotes and coins submitted in exchange
for New Iraqi dinar banknotes.

 

4) New Iraqi dinars shall be legal tender within Iraq, effective on the first date of the
Conversion Period.

CPA/ORD/14 October 2003/43

.

Section 4
Conversion


1) The exchange of currently circulating 1990 dinar banknotes and Swiss dinar
banknotes and coins against New Iraqi dinar banknotes shall take place during the
Conversion Period by exchanges at the Official Conversion Rates, free of charge,
at the offices of the CBI and banks and other institutions designated by the CBI.

2) Notwithstanding paragraph 1 of this Section, Swiss dinar banknotes with a face
value of 25 dinars may not be exchanged during the Conversion Period. Such
banknotes may only be exchanged pursuant to Administrative Instructions issued
by the CBI pursuant to paragraph 3 of this Section.

3) Following the expiration of the Conversion Period, no 1990 dinar banknotes or
Swiss dinar banknotes or coins shall be exchanged for New Iraqi dinar banknotes,
except as permitted pursuant to Administrative Instructions issued by the CBI.

Section 5
Official Conversion Rates


The 1990 dinar banknotes and the Swiss dinar banknotes and coins shall be
exchanged against New Iraqi dinar banknotes at the official conversion rates of one

(1) 1990 dinar to one (1) New Iraqi dinar, and of one (1) Swiss dinar to one-hundredand-
fifty (150) New Iraqi dinars.
Section 6
Legal Tender Banknotes

 

1) During the conversion period, 1990 dinar banknotes, Swiss dinar banknotes and
coins, and New Iraqi dinar banknotes shall all be legal tender banknotes in Iraq
and each type of Iraqi dinar may be used as such in proportion to its Official
Conversion Rate.

2) After January 15, 2004, only New Iraqi dinar banknotes issued by the CBI shall be
legal tender banknotes.

Section 7
Freedom of Contract


Parties to a contract or to any other voluntary transaction may denominate the
payment obligations arising from such a contract or transaction in Iraqi dinar that is
legal tender or in any foreign currency they agree upon and payment in discharge of

CPA/ORD/14 October 2003/43

http://www.casi.org.uk/info/cpa/20031015_CPAORD43.pdf

Edited April 4, 2013 by dontlop

[RVPleaseToday]

dontlop, in 2003, there was only one "sole authority" in Iraq, and that was the CPA. You know that situation where we bombed the place into dust? Yeah, that deal. The CPA started putting the place back together. There was no functioning banking system in 2003. The law creating the current CBI was passed on March 6, 2004.

 

You can post this stuff over and over a hundred more times, but it isn't going to change the situation in Iraq in 2003.

[dontlop]

Dr. Sinan Al-Shabibi (Arabic: الدكتور سنان الشبيبي‎) is an Iraqi economist who served as the governor of the Central Bank of Iraq from September 2003 to October 2012.

 

 WHERE DID HE WORK AT ?

Al-Shabibi introduced the bank's employees to modern finance. He made the bank switch from typewriters and calculators to computers, introduced it to financial instruments like currency auctions, and replaced Iraq's pre-2003 banknotes with the New Iraqi Dinar between October 2003 and January 2004

In 1949, the currency board was replaced by the National Bank of Iraq, which had been founded two years before. The National Bank of Iraq became the Central Bank of Iraq in 1956.^[1]

The Central Bank of Iraq was established as Iraq's independent central bank by Central Bank of Iraq Law 2004 with authorised capital of 100 billion dinars.^[2] According to the law, 100% of the bank's capital stock shall be held by the State and is not transferable.

On October 16, 2012, the Council of Ministers dismissed Central Bank of Iraq (CBI) Governor Sinan al-Shabibi,

amid allegations of corruption leveled against him. Th is peremptory and constitutionally questionable move

occurred as an audit of the CBI’s foreign currency auctions surfaced. Th e audit purportedly found that perhaps

80% of the $1 billion purchased at weekly CBI-managed auctions was tied to illegal transactions, with the funds

subject to those transactions potentially lost abroad to money laundering. Th is development is symptomatic of a

troubled year in Iraq,  http://www.sigir.mil/files/quarterlyreports/October2012/Report_-_October_2012.pdf

Edited April 4, 2013 by dontlop

[RVPleaseToday]

dontlop, I think you need a hobby. Go fishing, sit by a stream. Enjoy the spring flowers.

 

Or, better yet, rewrite the postwar history of Iraq. You don't seem to like the actual history much.

[dontlop]

In order to create the basis of a sound monetary policy environment the most significant step has been the formation of an independent central bank viz. the Central bank of Iraq (CBI), on March 6, 2004, as an independent regulatory authority.< http://www.iraqitic.com/iraqiTIC_policyEnvironment_ar.php

 

 THE WAY I SEE IT IT JUST  PASSED A LAW TO MAKE IT INDEPENDENT FROM GOVT CONTROL . THEY DIDNT WANT GOVT  MAKING MONETARY POLICY IN IRAQ .. THEY WANTED   SOLE RESPONSIBILITY FOR MONETARY POLICY  THEY WANTED TO MAKE SURE  SOMEONE LIKE SADDAM WOULDNT SCREW IT UP ..  THEY ARENT  FINANCIAL EXPERTS ,, THEY DIDNT CREATE THE CBI IN 2004 .. THEY CREATED AN INDEPENDANT REGULATORY  AUTHORITY ... AND THEY WROTE IT INTO THE CONSTITUTION LIKE THAT TOO

Edited April 4, 2013 by dontlop

[dontlop]

dontlop, I think you need a hobby. Go fishing, sit by a stream. Enjoy the spring flowers.

 

Or, better yet, rewrite the postwar history of Iraq. You don't seem to like the actual history much.

YA YOUR REAL INTELLIGENT ..LOL

 

RVPleaseToday

RVPleaseToday

Senior Member

•  
• Members
• 1,023 posts

Posted Today, 01:57 AM

 

 

 

The law that created the CBI wasn't passed until after the exchange period was over. There was no CBI. .

 

 

LOL

 

Edited April 4, 2013 by dontlop

[Brazen]

Hey Dontlop......why don't you paste some more page long documents hat show you are wrong for everyone. Thanks....LOL....while you are at it why don't you figure out another straw you can grasp at like legal tender after insisting for 30 pages that the CBI remonetized the Swiss Dinar by giving it an official exchange rate which they didn't.

Everyone can see your desperation here. Anyone would admitt that they were wrong and move on unless of course they had an agenda.

[dontlop]

dontlop, in 2003, there was only one "sole authority" in Iraq, and that was the CPA. You know that situation where we bombed the place into dust? Yeah, that deal. The CPA started putting the place back together. There was no functioning banking system in 2003. The law creating the current CBI was passed on March 6, 2004.

 

You can post this stuff over and over a hundred more times, but it isn't going to change the situation in Iraq in 2003.

THE ONLY THING THAT HAPPENED  IN MARCH 2004 WAS THE CBI GOT ITS INDEPENDANCE  FROM GOVT ..//... IT WAS MADE A INDEPENDENT REGULATORY AUTHORITY

 

SHABBS WORKED AT THE CBI THAT WASNT FUNCTIONING WHEN THEY   EXCHANGE THE BREMMERS FOR SADDAM DINARS ACCORDING TO RVPLEASETODAY ..LOL

IT WAS BLOWN TO DUST ACCORDING TO RVPLEASETODAY

 

 

The legal framework for the banks and the CBI is stated in the Banking Law and the Central Bank of Iraq Law which were issued on September 19th, 2003 and March 6th, 2004 respectively. The objective of the CBI in issuing these laws was to set up an Iraqi legal framework for banking in line with international banking standards, promote confidence in the economy by establishing a safe financial environment, and provide a competitive and accessible banking system.

http://www.cbi.iq/index.php?pid=PaymentSystems

 

CBI Law

Banking Law

The Banking Law was issued September 19, 2003. The law brings Iraq’s legal framework for banking in line with international standards.

Edited April 4, 2013 by dontlop

[Brazen]

Maybe you can just pretend that the Swiss dinar RVed by billions of percent Dontlop. That seems to be a technique used frequently by GO RVers.

So now that you have been proven to be wrong about the CBI being in control during the exchange you are panicking yet again and pasting documents that are proving yourself wrong AGAIN.....LOL...this is priceless. Maybe you can just pretend that the CBI was in control at the time of the exchange.

Edited April 4, 2013 by Brazen

[RVPleaseToday]

dontlop, you are free to believe anything you like. And, if your beliefs comfort you, then that is enough.

[dontlop]

SO WHAT THE BANKING LAWS WERE SET UP BY THE CBI IN SEPT 2003 ,, THE CBI WAS IN EXISTANCE SINCE 1956. THE CBI WAS CONTROLLED BY THE GOVT OF IRAQ .. WHILE THEY WERE GONE ,,THE CBI PASSED A LAW  TO BECOME INDEPENDENT OF THE GOVT . MARCH 6 2004

 AFTER THAT THE CONSTITUTION WAS WRITTEN IN ACCORDANCE TO THAT LAW THAT GIVES THE CBI INDEPENDANCE FROM THE GOVT  MAKING IT A INDEPENDANT REGULATORY  AUTHORITY ..

 ... SHABBS WASNT WORKING AT MCDONALDS  IN 2003

Edited April 4, 2013 by dontlop

[Brazen]

Uh oh......all caps now.....the tantrum is almost in full swing. Once he changes the font color and size then the panic is severe.

[sandstorm]

Im almost convinced that if the cbi does delete three zeroes,rd/lop.....years from now people like dontlop would be calling it a rv to a dollar

[dontlop]

Im almost convinced that if the cbi does delete three zeroes,rd/lop.....years from now people like dontlop would be calling it a rv to a dollar

THATS INTELLIGENT SANDSTORM ..

 

PEOPLE LIKE SANDSTORM ARE  WHAT .. WHAT CAN I SAY TO BELITTLE YOU SANDSTORM .. IS THAT THE GAME YOU WANT TO PLAY WITH ME SANDSTORM .?

[Brazen]

Im almost convinced that if the cbi does delete three zeroes,rd/lop.....years from now people like dontlop would be calling it a rv to a dollar

I agree. They will be calling the Iraqi RD a RV and using that to pump the RV of the Iranian Dinar in the future. Lol

[dontlop]

dontlop, you are free to believe anything you like. And, if your beliefs comfort you, then that is enough.

  YA YOU TOO  I KNOW ONE THING I CANT TAKE TALKING TO THE MORON IN THE TANK ANY MORE

Edited April 4, 2013 by dontlop

[sandstorm]

THATS INTELLIGENT SANDSTORM ..

 

PEOPLE LIKE SANDSTORM ARE  WHAT .. WHAT CAN I SAY TO BELITTLE YOU SANDSTORM .. IS THAT THE GAME YOU WANT TO PLAY WITH ME SANDSTORM .?

dontlop...ive stayedout of this whole swiss dinar rv conversation. i just cant believe your still sticking with your point of view. with all respect...i dont see how youve continued and continued despite history. For the life of me....i dont get why you just dont acknowledge what is fact. a+ effort to sticking to your guns, but your way off with your nfo. peace

I agree. They will be calling the Iraqi RD a RV and using that to pump the RV of the Iranian Dinar in the future. Lol

i know...its sad. The gurus already tied the dong and dinar rvs together. and people eat it up. i dont get it