my opinion on the currency exchange in 2003

[Raleighwood]

No wonder people gave up on you and trying to discuss this matter with you. Do you always get so defensive and name call when people ask you a question that might nullify your ignorant statements? I was trying to get you to actually think by leading your brain into a different train of thought, one that would help you come to a more concise and accurate conclusion on the information YOU presented because what you have posted, and what you got from it are two different things. I apologize for trying to make you think. Its clearly an exercise you are not capable of completing. Please do continue with your misguided assupmtions. It will at least be entertaining to read.

[dontlop]

they gave up because they cannot prove it false ..

 

you can not  say kuwait did not revalue because their official exchange rate did not change

 

then say the  swiss dinar  did not revalue when its official exchange rate did  change

 

 you can not prove it otherwise either .

[dontlop]

because i said your acting like a child .. you concider that name calling ..

 

here  click on this link to see who wrote this ..>>>   I guess how the saying goes, "put up or shut up" fits nicely here.

Read more: http://dinarvets.com/forums/index.php?/topic/105700-lopster-question/page-3#ixzz2Q7LKZzTp  i believe its you .. now i asked you to  substantiate your claims .. and you in return ask more questions ,

 i say your going in circles .. lets have a reasonable debate ,, substanciated by  documentation of facts 

Edited April 11, 2013 by dontlop

[powerpager]

So while we wait for things to calm down so they can RV, 10 tons of gold are stolen and 16 people killed by a bomb. We are suppose to be close enough to hear "SOON" but instead of finishing or accomplishing anything they want 2 months vacation off. Who in the world takes 2 months off when the people you represent are living in a toilet. There is no way it will RV this year !!!

[dontlop]

saddam ordered  the kuwait dinar to be exchanged 1 kuwait dinar for  one saddam dinar ..

 

 saddam gave kuwaitis till october 6th  1990 .. to exchange in all their dinars for iraqi dinars ,, and after that the kuwait dinar was demonetized as worthless paper .

 

 since he was incharge  .. during that time frame the kuwaiti dinar was  worthless by decree....  so i guess  when he was removed by coalition forces ..the kuwaiti govt took over kuwait again  and by decree they  reinstated the old exchange rates  for the kuwaiti dinar ..so i guess the kuwaiti dinar was revalued from zero to  over 3 dollars ..

 

reinstated.. revalued ,,,,no difference ..

 

 

 so i wonder if its fair to say the kuwait dinar  didnt revalue after it was ordered worthless as of october 6 1990  by saddam who was incharge of kuwait  at the time  like the cpa was incharge of iraq at the time in 2003... when they ordered the  swiss dinar to be re-monetized  in 2003

 

saddam was still on the loose fighting the war ...  so was saddam still incharge .. 

 

the kuwait  govt was gone  too .. so was kuwait govt still incharge

 

one or the other  was revalued kuwait dinar ..or swiss dinar ..both were  demonetized if saddam being in control of kuwait gives him the authority to monetize .. de- monetize by decree  like the cpa had authority to do so by decree

 

Kuwait's Currency Declared Invalid by Iraq

 

With AM-Gulf Rdp, Bjt TERRIL JONES , Associated Press

Sep. 24, 1990 4:42 PM ET

NICOSIA, CYPRUS NICOSIA, Cyprus (AP) _ Iraq, underscoring its control over Kuwait, has declared Kuwait's currency invalid and set a deadline for all who hold it to exchange it for Iraqi money, the government said Monday.

 

Iraq will reimburse those who possess Kuwaiti dinars with Iraqi dinars on a 1-for-1 basis, the government said. Those who hold Kuwaiti dinars have until Oct. 6 to exchange it for Iraqi currency, said the announcement, carried by state Iraqi News Agency.

 

 

After that date, Kuwaiti dinars will be considered worthless, the Baghdad government said.

 

Iraq has methodically dismantled Kuwaiti institutions following its Aug. 2 invasion and annexation of Kuwait. Iraqi authorities have officially disbanded Kuwait's government, military and national airline, and call Kuwait Iraq's 19th province.

 

The currency measure was taken ''to facilitate transactions throughout Iraq and ending duality in the monetary dealing,'' the government said.

 

 

 

http://www.apnewsarchive.com/1990/Kuwait-s-Currency-Declared-Invalid-by-Iraq-With-AM-Gulf-Rdp-Bjt/id-978b923d961916791ee3c34fce20be34

 

 

 

 

alot of strange things happen by decree

if your making the case for the swiss dinar  not revaluing .. how can you make a case that the kuwait dinar did not ..

i suppoose you can say the official rates never changed on  the kuwait dinar .. but then  how can ya defend the swiss dinar  after saying that .. since the official rates did change for the swiss dinar

its a bunch of bla bla bla ... unless someone can show the swisss dinars official exchange rates at the central bank of iraq and had  official exchange rates  before the  october  2003 decree ,,  and after 1990 demonetization of the swis dinar ..

 

i have yet to see anyone post that official exchange rate  for the swiss dinar from the cbi during the 1990s

Edited April 11, 2013 by dontlop

[RVPleaseToday]

dontlop, you keep saying the same things over and over. Bottom line, what are you trying to prove by all of this stuff you keep posting? What does any of this have to do with the current dinar and RV? The history is interesting, but in no way bears on the current situation in Iraq. Nothing is the same today.

 

The CPA no longer exists.

Edited April 11, 2013 by RVPleaseToday

[RVPleaseToday]

You've cut off debate by kinda like saying, "A banana is a pencil, now prove me wrong."

[dontlop]

what im saying is currencys change  in big ways over night  by decree  and foriegn reserves are not a factor ,, as demonstrated by the swiss dinar .. unless someone can show where the reserves   were turned over to the cbi justifying the value of the swisss dinar  and giving enough reserves to back all those  bremmers they recieved .... where the reserves would of been kept  that backed the swiss dinar  since thers only one central bank of iraq ...there was nothing to back the swiss dinar   to exchange it for 150 bremmers for one swiss .

 

i was just tired of hearing the lopsters say it never happened  before ..

 

 and we all saw who it was that argued  that it never happened

 

 it did happen.. in recent history .. and  with out getting out books .. its hard to tell how many times this has happened throughout history .. things  were not logged onto the internet through out history .. we will never know how many times this has happened ..

 

 so just to say it never happened before .. id like proof that its never happened before  before i believe that ..

 

 

its just a referance .. we all know what has happened through out history  has no bearing on iraq .. so that cannot be used to support a lop or a revaluation.

 

so as long as i dont hear it any more i wont bring it up any more .. but if it does .. i wanted to log  it all on the net ...so i can reference it if anyone wants to argue the point .. ill present the information and back it up .. and i will request that same  referances from those who say differently .

 

its a log of info .i can use this information in the future until someone puts up  verifiable  legitimate sources that prove different .. and i wont be searching the internet next time .. ill simply recall these links off these posts

^{if theres proof otherwise please post it}

not just a bunch of no it didnts

link please ..

when this is all over ill write a final thesis on it ... so far i got nothing proving other wise .. either the kuwaiti dinar or the swiss dinar revalued

 

cant have it both ways

my final thesis will delete  the arguements made by everone  that wasnt verifyable ..

Edited April 11, 2013 by dontlop

[RVPleaseToday]

"what im saying is currencys change  in big ways over night  by decree  and foriegn reserves are not a factor ,, as demonstrated by the swiss dinar .."

 

dontlop, the situation with the Swiss dinar shows no such thing.

 

Folks in the North who held and still used the Swiss dinar broke even. They didn't make anything. The CPA, by their decree, effectively said, "Yesterday, your Swiss dinar had a purchasing power such that you could buy 150 bags of camel snacks when the Saddam dinar would only buy one. Today, we have introduced a new dinar, so today we are going to give you 150 new dinar for each Swiss dinar so you don't lose anything and can still buy the same number of bags of camel snacks. As soon as they exchanged their Swiss dinar for New dinar, a dinar became a dinar. They didn't make a profit.

[dontlop]

ya cant say they made nothing ,, they made the reserves that now sit in the central bank that backs up that worthless swiss dinar .. it was a piece of paper .. that very few people didnt  exchange during the exchange period . it was backed by nothin .. now it is backed by something . they gained all those reserves .. in the name of a demonetized swiss dinar

Edited April 11, 2013 by dontlop

[Raleighwood]

"what im saying is currencys change  in big ways over night  by decree  and foriegn reserves are not a factor ,, as demonstrated by the swiss dinar ..[/size]"

 

dontlop, the situation with the Swiss dinar shows no such thing.

 

Folks in the North who held and still used the Swiss dinar broke even. They didn't make anything. The CPA, by their decree, effectively said, "Yesterday, your Swiss dinar had a purchasing power such that you could buy 150 bags of camel snacks when the Saddam dinar would only buy one. Today, we have introduced a new dinar, so today we are going to give you 150 new dinar for each Swiss dinar so you don't lose anything and can still buy the same number of bags of camel snacks. As soon as they exchanged their Swiss dinar for New dinar, a dinar became a dinar. They didn't make a profit.

He reminds me of the saying "you can lead a horse to.water" but he lead himself and instead of drinking the water he is eating the sand. Oh well!!

[dontlop]

i guess you can do that with any currency . demonetized or  not .. no  foriegn reserves are necessary to back it up .. heck they can just come out and say the bremmers are worth 500 hundred times what they are worth ,, no need to show reserves backing it ..

 

 unless you can show the  kurds brought with them  gold or  foriegn currency backing their demonetized swiss dinars  and turned those reserves over to the cbi along with those demonetized swiss dinars for the exchange in 2003 ,, your saying no reserves are necessary they can just by decree a currencys worth and  as long as they all play along ,, it is what it is ..

 

 but you wouldnt say that .. or i guess you just did

nothing backs a demonetized currency ..not one penny at the central bank .. and they are the only one  with authority to issue  legal tender 

[RVPleaseToday]

"i guess you can do that with any currency . demonetized or  not .. no  foriegn reserves are necessary to back it up"

 

Important: No foreign reserves were harmed (or involved) in the exchange of dinar for dinar.

[dontlop]

"i guess you can do that with any currency . demonetized or  not .. no  foriegn reserves are necessary to back it up"

 

Important: No foreign reserves were harmed (or involved) in the exchange of dinar for dinar.

you say things and never back it up .. i guess by decree of you .. what you said is a fact .. you should sign and date  your statements too ..

 

hear yee hear yee ..  he just promulgated this ..

 

prom·ul·gate

/ˈpräməlˌgāt/

 

Verb

1. Promote or make widely known (an idea or cause).
2. Put (a law or decree) into effect by official proclamation.

 

 thats how the swiss dinar regained its legal status ..  by decree .. nothing backing it .. but now something backs it .

why did saddams dinars only exchange at a rate of 1 to 1 ..

 

 because thats all the reserves it had ..

 

why did the swiss dinar get its exchange rates .. by decree .. like i said unless you can show they brought along gold or foriegn currency to back up their demoinetized swiss dinars,, and turned those reserves over to the cbi along with their demonetized swiss dinars .. it was revalued by decree  150 times  the saddam  notes that were backed by reserves at the cbi

good luck finding anything verifying what you said let alone posting  anything that verifys what you said

Edited April 11, 2013 by dontlop

[RVPleaseToday]

"why did saddams dinars only exchange at a rate of 1 to 1"

 

Because the CPA said so. They were replacing one dinar with another. Saddam had raided the reserves. The U.S. sent a few bucks over to get them going again.

Edited April 11, 2013 by RVPleaseToday

[dontlop]

yes ... the us sent over 4 billion dolars from the federal reserve bank in new york that were frozen funds  of saddams .. but you got to remember those were not swiss dinars .. the swiss dinars were backed by nothing  but a decree of someone with out legal authority ,, in northern iraq .

 

but they were not legal tender anywhere in iraq .. which means nothing was backing them up by the cbi ..every penny was backing the saddam notes

 

swiss dinars were demonetized ..

 

 i got an idea for ya .. when the bremmers have their exchange period .. dont exchange your bremmers till after they are demonetized and see how much you get for them ..tell them how they are worth 150 times more since they quit printing them . see what happens and get back to us

heck wait 13 years after the bremmers are demonetized ... and all iraqs reserves are switched over backing the new dinars  and tell them  you want to exchange them in for 150 times   what the new rate is .. tell them you decree the value yourself .

Edited April 11, 2013 by dontlop

[dontlop]

40 bilion not 4 bilion .. i believe 4 billion was the cost to print up all those bremmers

 

The money came from an account held at the New York Fed called the “Development Fund for Iraq” which was made up of billions of dollars in Saddam Hussein’s financial assets that had been frozen under various US and global sanctions regimes. They weren’t taxpayer dollars, but the US government was responsible for making sure they got where they were going.

 

The CPA official was a stocky, middle-aged naturalized American citizen of Lebanese descent who was born in Saudi Arabia. His first name is Basel. At his request, CNBC has agreed to withhold his last name from this story. Basel ferried cash in Baghdad for the CPA and the American embassy from 2003 until 2008—all told handling, he said, about $40 billion in cash.

His job made him the very last American to see that money before it disappeared into the vaults at the Central Bank of Iraq. And it may have made him the only person in the history of the world to oversee the movement of $40 billion in a combat zone.

http://www.cnbc.com/id/45031100

[sandstorm]

Dontlop...it was a one for one exchange. wheres the profit? How many millionaires did the swiss dinar rv create? Answer..none

[dontlop]

Dontlop...it was a one for one exchange. wheres the profit? How many millionaires did the swiss dinar rv create? Answer..none

thanks .. was someone saying  people became milionares ?

 

the swiss dinars were exchanged at 150  bremmers for one swiss dinar .

saddam notes were exchanged 1 to 1 ..

 

 

the profits are realized with the reserves  by declaring the swiss dinar legal tender in iraq again and backing them up with reserves from that point on ..  the profits are sitting in the cbi reserves ..  those reserves came from the  dfi fund in the fed reserve in new york /.

 

 not a penny of reserves  at the cbi backed the swiss dinars before,,  but now  .. they are guarenteed  after being converted by the cbi in 2003 . because  what they brought to the cbi  is now backed by reserves ...

 

 unless you can show they brought  the reserves to the cbi  that was backing those swiss dinars and gave those reserves to the cbi during the exchange in 2003 ,, because there werent any  backing them before october 2003  and after they were demonetized in 1990 . every penny at the cbi was backing its legal tender ,,,the sadam notes

there must not of been very many of the swiss dinars .. since no one got rich off them .. ya figure they gave them a nickle apiece for them .. and it wasnt even real money in iraq ... it wasnt legal tender ..

 

thats like me  using monoply money  for years around my neighborhood . then taking in millions of monoply dollars and  exchanging them in for real money ..real live legal tender backed by  us dollars ..

[sandstorm]

thanks .. was someone saying  people became milionares ?

 

the swiss dinars were exchanged at 150  bremmers for one swiss dinar .

saddam notes were exchanged 1 to 1 ..

 

 

the profits are realized with the reserves  by declaring the swiss dinar legal tender in iraq again and backing them up with reserves from that point on ..  the profits are sitting in the cbi reserves ..  those reserves came from the  dfi fund in the fed reserve in new york /.

 

 not a penny of reserves  at the cbi backed the swiss dinars before,,  but now  .. they are guarenteed  after being converted by the cbi in 2003 . because  what they brought to the cbi  is now backed by reserves ...

 

 unless you can show they brought  the reserves to the cbi  that was backing those swiss dinars and gave those reserves to the cbi during the exchange in 2003 ,, because there werent any  backing them before october 2003  and after they were demonetized in 1990 . every penny at the cbi was backing its legal tender ,,,the sadam notes

i will let you argue the past. but what any of this got to do with the rv of the iqd?

[dontlop]

actually it does nothing  to make anything happen .. but it does show that by decree . a demonetized  currency  can  be given an official   exchange rate   and it doesnt  have to be backed  up by any thing ..

 

if that can be done with demonetized money with nothing backing it up .. just think what they can do with the bremmers which is legal tender by decree ... what ever they choose  i guess .

 

i was just looking for any kind of substanciated  information   something backed up by documentation  that i can read   you know with a link ..from people who say with out backing up what they say  .. its never happpened before ,,  or its got to be backed by reserves  to rv ..

 

 

i say it has happened .. they say it hasnt . and they cant stay away from this topic ... but they cant prove it wrong .

 

i guess thats why we use the term speculation . .. so  i guess no one should be attacked for speculating .. unless  they can back up  what they say

 

 

  like if some guy says it is going to rv tommarro .. and hes attacked without proof  it wont rv tommarro whats the difference between him and the one who says it wont rv .. they are both speculating  ..or next month .. next year .. or after this law is passed .. or they get out of chapter 7 . or what ever there reason for saying its going to rv ..

 

now some peoples screen names are known for  daily  calling for rvs .. we all know they are just  full of it .... so its not even worth going there  and being serious and attacking them.. its a joke .. some day they may be correct and they will say .. see i told ya ..lol.

[sandstorm]

If the iqd is demonitized....we have bigger problems than the swiss dinar.

Hey dontlop........check out the trillema and impossible trinity.....id like to hear your thoughts

[dontlop]

this makes ya wonder

 

 

The New Iraqi Dinar (NID) - a free floating currency - was introduced in January 2004 together with a new monetary control system. There are no restrictions or taxes on the purchase or sale of currency; the CBI carries out a regular currency auction in order to stabilize the exchange rate, which now stands around 1300 NID to the US $. The NID is fully convertible and there are no restrictions on capital flows.

 

http://www.iraqitic....ironment_ar.php

 

thats why i posted this ... is there any proof that the dinar is pegged ... is there an official   anouncement  by the cbi that it is pegged .. i saw it changed a couple times since 2003 . and all i can find is an imf statement that its  has a stablized arrangement .. whats that supposed to  mean .. they stablize their exchange rates with auctions ?

heck all that talk is way above my pay scale >> trillema and impossible trinity  ,<<< ill keep looking it over ..

[dontlop]

Lacking effective control on the free movement of capital, the Impossible Trinity asserts that a country has to choose between reducing currency volatility and running a stabilising monetary policy: it cannot do both. As stated by Paul Krugman in 1999:^[8]

“

The point is that you can't have it all: A country must pick two out of three. It can fix its exchange rate without emasculating its central bank, but only by maintaining controls on capital flows (like China today); it can leave capital movement free but retain monetary autonomy, but only by letting the exchange rate fluctuate (like Britain – or Canada); or it can choose to leave capital free and stabilize the currency, but only by abandoning any ability to adjust interest rates to fight inflation or recession

 

well iraq can just keep blaming everything on shabbs and see how that works out ... id like to see what they came up with after the standby agreement ended ,,, they said they were working on its exchange regime.. and that was why they gave them that extension  that ended at the end of february .. and i noticed the pairings  got alot more movement after it ended.. im waiting for that report . i look alomost every day and am on their e-mailing list . for iraq publications

 

  .. maybe by the end of the second quarter

i do know reading that brings ya back to earth ./

[dontlop]

 . the only way i would care about its exchange regime  is if i wasnt expecting a rv .. and counting on this slowly growing .. .. that would suck  if you were hoping for slow growth and it doesnt move for 3 years .

 

.dollarize .....rv.....de-dollarize   ..  i dont care if they float it or peg it afterwards  i hope its pegged afterwards  so it maintains its value long enough to cash out . then they can float  who cares .