SWFG Interview Part 1

[SWFloridaGuy]

Nobody is interviewing me, claiming that I'm "the Senior Vice President for an international oil company" or that I have "connections with some of the most influential and powerful entities in the world." We're all aware of the massive amount of fraud involved with the dinar. One man who was recently convicted of dinar fraud also claimed that he was a VP. I just think claims like this need verification to be taken serious.

 

 

Do you know who Duckyboy is?  Probably one of the biggest anti-guru, skeptical but knowledgeable out there. Also, has been banned from every pumper chat room around the same time I did a few years ago and was one of the first to open my eyes to their deception. Ask him is this contact is real. You have no idea what you're talking about however I can understand your skepticism.  

 

Believe what you will. I've already mentioned that that I am in negotiations with some real experts in the field and from now on I promise I will provide their full names and biography as part of the post so you can judge their credentials for yourself.  It's not as easy as you think to get these men/women who are professionals in this field to comment on this subject but I have been able to find some. It takes a lot of effort and you have to jump through many hoops, speaking with their people first, to even get the opportunity to reach them personally.  It takes time.    

Edited May 28, 2013 by SWFloridaGuy

[jmw2]

5-23-13 SWFloridaGuy: It was my privilege to speak with the Senior Vice President for an international oil company. He is also a Strategic Resource Developer specializing in funding humanitarian projects globally and has connections with some of the most influential and powerful entities in the world.

 My questions are listed first, followed by his response.

1. Iraq has emerged as the world's fastest growing economy in 2012 and 2013, according to Bank of America Merrill Lynch and many others. Do you think that this among other factors warrants a RV/Float/Lop/PEP etc., of their currency and if so which route do you think they'll take?

 

2. The finance committee and CBI have mentioned that the Iraqi dinar may be going international soon. Do you think this implies raising the rate prior as a requirement or do you think it's in their best interest to take a more gradual, long-term approach to growth raising the IQD only a few pips at a time?

3. There were some studies done by Harvard and some independent research groups that suggested that Iraq should change the peg to a more broad based commodity peg or a PEP that includes oil in a basket with other currencies. Do you agree with this?

4. How significant of a role do you believe that political stability is right now and would it hamper or postpone the CBI moving forward with economic reform machination at this time?

5. Considering recent reports, how close do you believe Iraq is to joining the WTO with full accession?

 

Maybe I missed it...but did he answer any of your questions?...I thought they were great questions and would have enjoyed hearing his responces.

 

[SWFloridaGuy]

My next possible interview will be with someone I have great respect for.  He is a researcher at the Norwegian Institute of International Affairs. He holds a doctorate in middle-eastern studies from the University of Oxford. He specializes in Iraqi politics and will be able to give us some great insight into their stability or lack there of and what the future may hold.  Now I've never heard him comment on the future of their currency and am not sure which questions he will feel comfortable answering in that regard but I have read this guy for years and am blown away by his sagacious ability to provide accurate research and never shy away from controversial topics.  Anyway, we'll see what happens.  His secretary told me to expect a prompt response from him and I also correspond with him in other ways. Hopefully, soon I will have this locked up for us and we'll all gain a little more insight into what is truly going on in Iraq right now. 

 

 

 

5-23-13 SWFloridaGuy: It was my privilege to speak with the Senior Vice President for an international oil company. He is also a Strategic Resource Developer specializing in funding humanitarian projects globally and has connections with some of the most influential and powerful entities in the world.

 My questions are listed first, followed by his response.

1. Iraq has emerged as the world's fastest growing economy in 2012 and 2013, according to Bank of America Merrill Lynch and many others. Do you think that this among other factors warrants a RV/Float/Lop/PEP etc., of their currency and if so which route do you think they'll take?

 

2. The finance committee and CBI have mentioned that the Iraqi dinar may be going international soon. Do you think this implies raising the rate prior as a requirement or do you think it's in their best interest to take a more gradual, long-term approach to growth raising the IQD only a few pips at a time?

3. There were some studies done by Harvard and some independent research groups that suggested that Iraq should change the peg to a more broad based commodity peg or a PEP that includes oil in a basket with other currencies. Do you agree with this?

4. How significant of a role do you believe that political stability is right now and would it hamper or postpone the CBI moving forward with economic reform machination at this time?

5. Considering recent reports, how close do you believe Iraq is to joining the WTO with full accession?

 

Maybe I missed it...but did he answer any of your questions?...I thought they were great questions and would have enjoyed hearing his responces.
 

 

I understand, I can't control which direction they decide to take the interview in.  I asked him about that and his response was we are not looking at the big picture and centralize our conclusions and fail to see the entire picture.  I will repeat, this is not some Nesara idiot or WGS guy.  Anyway, I have great respect for him even though you know I choose to focus on completely different issues and of course that may be a mistake of mine but I choose to believe the only way to judge what the CBI is planning to do is by watching the preparatory steps taken (laws passed, finance committee/CBI/IMF/UN report etc...   I don't know who the PTB is, don't really care to and if they control the Milky Way galaxy, well, how the heck would I know what they're planning to do anyway. 

 

[hame55]

In 2010 (so not clear what is happening now) Libya's M2 was about 45B dinar and their M2 to Reserves ratio was 0.3 at their 2010 exchange rate (so they had about 3x the reserves needed to sustain that rate).  Iraq's M2 is 75T dinar and their M2 to reserve ratio at the current exchange rate is around 0.95 (i.e. they have a small surplus) .  The dominant factor for the exchange rate of pegged currencies is money supply (at least M1, some use M2) compared to their reserves. Going to a 1 IQD to 1 penny would require roughly 10x the reserves Iraq has presently.  Its taken them about 10 years to get that 5% surplus, so getting 1000% extra is going to happen any time soon.  They might switch to covering M1 which would help a little, but hard to say.  Still that isn't going to significantly change things since their M1 and M2 are only about 15% different.

This is the LOP argument ad infinitum. Yes, if there are truly trillions in IQD, as stated in the public books, then a significant RV is unlikely. And that is the elephant in the room no one wants to confront here. This may certainly happen.

 

If several options occur, such as the rounding up of dinar in country, as many say there is evidence for, and the CBI does not have to buy back dinar outside in foreign investor hands, but is instead paid by their respective treasuries in their currencies in exchange for future oil shipments,  or they merely declare the dinar as reinstated at 1 to 1, or some rate that can be sustained internationally( I think this last one is most likely), then what you say about an LOP is not true.

 

Usually, redenominations occur in countries that are VERY disrupted, have few developed, salable natural resources and are so corrupt they cannot even make a decision without a civil war. Iraq is not in that category, despite the best efforts of lopsters to say so. They have a government, they make laws, they are not in civil war, they have 10 years of oil development under their belts since the war and they are finishing up international banking infrastructure, electronic banking, etc.

 

I think they are ripe, not for an RD, but something else. 

 

Then again, they can use dollars until I am seventy, another eighteen years. LOL

[umbertino]

Quote

Then again, they can use dollars until I am seventy, another eighteen years. LOL

End Quote

 Hame, my Friend... Then you're  younger than me...I'm 56.

[skeptic1138]

This is the LOP argument ad infinitum. Yes, if there are truly trillions in IQD, as stated in the public books, then a significant RV is unlikely. And that is the elephant in the room no one wants to confront here. This may certainly happen.

There is no doubt that there are many tens of trillions of IQD out. You don't have to take the CBI's word for it you just have to look at the size of their economy and for that economy to function the money supply has to be in the range of at least 50% or so of GDP. For M2 to be 1/10 as large as it is (to allow for an RV to 1 penny if reserves ARE correctly stated) then GDP, the GOI's budget, oil exports, auctions, etc etc all have to be 1/10 the size we see. No way.

 

If several options occur, such as the rounding up of dinar in country, as many say there is evidence for, and the CBI does not have to buy back dinar outside in foreign investor hands, but is instead paid by their respective treasuries in their currencies in exchange for future oil shipments,  or they merely declare the dinar as reinstated at 1 to 1, or some rate that can be sustained internationally( I think this last one is most likely), then what you say about an LOP is not true.

How do you "round up dinar"?

 

The schemes claimed for how investors will get paid basically by Iraq giving its oil away for a fraction of its value are nonsense, but also irrelevant. Do you really think it makes the slightest sense for Iraq to have a money supply more valuable than the combined money supplies of the entire rest of the world? When Iraqi's go to buy all the stuff they want from foreign vendors (flat screens to bulldozers and everything in between) where will the Trillions of Dollars, Euros, and Yen come from?

 

Usually, redenominations occur in countries that are VERY disrupted, have few developed, salable natural resources and are so corrupt they cannot even make a decision without a civil war. Iraq is not in that category, despite the best efforts of lopsters to say so. They have a government, they make laws, they are not in civil war, they have 10 years of oil development under their belts since the war and they are finishing up international banking infrastructure, electronic banking, etc.

Redominations have been done by countries as you describe and other more stable ones as well. Usually the first type don't work so well and the 2nd type works out fine. But I have not mentioned an RD. Iraq may well do one someday, they certainly have talked about it enough. But who knows, maybe they will just leave the currency as it is since their economy is working pretty well. In any case that is irrelevant to the question of whether a huge RV is possible (at least until and RD is actually done, then that closes the door as the new currency will already be close to 1 to 1 with the USD).

Edited May 29, 2013 by skeptic1138

[zul]

No, my math isn't wrong. I didn't say that 750 billion is what they'd need in foreign reserves, I said that's what they'd need to reduce their M2 to.

 

 

U must be kidding right..? Now...why would they need to reduce their M2 when fixed and saving deposits in  foreign currency is also part of their M2. Those could be part of their receivables from oil sales.

 

According to CBI: Money Supply (M2): represents (M1) adding to it quasi-money insurances and receivables of all sectors excluding central government.

Quasi-Money: represents other deposits including fixed, saving deposits in national and foreign currency for all sectors excluding central government.

[Darin]

Keep posting man, I have great respect for your acumen and only wish you posted more often.  Also, would love to hear more from Billi0, Carrello, and Trinityexchange. Enoch8 & Scooter.... of course the list goes on here with so many great intellects.  Please forgive me for all those I forgot to mention, I'm sure I'll be kicking myself 5 minutes after I post this for omitting many great researchers, just typing on fly here.

 

Thanks SWFG - I'd really love to get you added on Skype - if possible. But I'm not much compared to some of the other great researchers you listed, as I'm just only an optimistic person

Does Scooter post anymore?

 

I've seen him do a few chats on other sites.. But his presence isn't what it used to be. I believe he's just living life and hanging with his family..

 

My next possible interview will be with someone I have great respect for.  He is a researcher at the Norwegian Institute of International Affairs. He holds a doctorate in middle-eastern studies from the University of Oxford. He specializes in Iraqi politics and will be able to give us some great insight into their stability or lack there of and what the future may hold.  Now I've never heard him comment on the future of their currency and am not sure which questions he will feel comfortable answering in that regard but I have read this guy for years and am blown away by his sagacious ability to provide accurate research and never shy away from controversial topics.  Anyway, we'll see what happens.  His secretary told me to expect a prompt response from him and I also correspond with him in other ways. Hopefully, soon I will have this locked up for us and we'll all gain a little more insight into what is truly going on in Iraq right now. 

 

 

 

 

I think I'll find this one extra interesting due to having a lot of Norweigan background in my family.

 

Plus, this guy seems to have a lot of the essential tools to give us a realistic outlook. I hope he has positive things to say.

Edited May 29, 2013 by Darin

[JJ7]

This is the LOP argument ad infinitum. Yes, if there are truly trillions in IQD, as stated in the public books, then a significant RV is unlikely. And that is the elephant in the room no one wants to confront here. This may certainly happen.

IF? Are you honestly saying there might not be trillions of IQD in circulation? Dinar trade sold over 500 billion dinar in 2011 alone. That's one company, in one year. There are hundreds of millions of IQD for sale on eBay each and every day. They've printed massive amounts of 25,000 dinar bills. All these things are facts. There ARE trillions of IQD in circulation, there's no ifs ands or buts, it's a fact.

If several options occur, such as the rounding up of dinar in country, as many say there is evidence for

Many gurus say it, when have they been right about anything? Let's do some basic math here:

There are 75 trillion IQD in circulation. Say that five trillion are outside the country. Iraq uses over half their reserves (reserves it took them 10 years to build up) and buys back 40 trillion dinar. Is this possible? No. It'd mean there wasn't a single solitary paper dinar in Iraq, plus it'd mean they'd have to make people denominate some digital dinar (i.e. bank balances) in a currency other than dinar as well, because there aren't 40 trillion paper dinar in Iraq to even buy back. It simply is NOT POSSIBLE. But let's pretend for a second it is.

Now there's 35 trillion dinar in circulation, 5 trillion of it outside the country. Let's pretend another impossible thing happened, and that they didn't spend any of their reserves to buy these back, so they still have 75 billion in reserves. 75 billion in reserves, M2 of 35 trillion, = they can RV to a whopping 467 to 1. About half a cent per IQD. Whoop de doo. But here's the kicker, since they took IQD OUT of the hands of their own citizens, it means they're putting the extra value INTO the hands of foreigners.

Right now, in the above scenario, Iraq has 70 trillion of their IQD in country, at 1166 per, = 60 billion USD worth of their own currency, in their own hands. After your proposed dinar buy back program, they end up with 30 trillion dinar in country, worth 467 per, = 64 billion. BUT, they spent 34 billion buying the dinar off the streets, so the end result is that they end up with 30 billion in their own currency inside Iraq. They just lost 10 billion dollars, and for what? So that foreign currency speculators can make a few dollars. The entire notion of "rounding up dinar in country" MAKES NO SENSE. Iraq would never do it, because it LOSES THEM MONEY.

and the CBI does not have to buy back dinar outside in foreign investor hands, but is instead paid by their respective treasuries in their currencies in exchange for future oil shipments

Complete nonsense put out their by gurus that are either liars or enormously ignorant. How many hundreds of billions or trillions of different foreign currencies does the UST currently hold? Not a single one. And they're gonna start with the dinar? The currency of a violent third world toilet with nothing to offer the world except oil and pipe bombs? Why not the CAD? Why not the AUD? Why not the Yuan? Why not gold? Why not silver? Why not virtually ANYTHING but the hyperinflated currency of an unstable and violent country? The entire notion is completely silly, and makes no sense.

or they merely declare the dinar as reinstated at 1 to 1, or some rate that can be sustained internationally( I think this last one is most likely), then what you say about an LOP is not true.

They can't even sustain 1166 in their own country, the notion that they could sustain a massively higher rate internationally is silly. Look at the M2s and GDPs of Iraqs neighbors. They've been posted on this site numerous times, and are easily Googleable. Iraqs currency is worth exactly what it should be. It isn't undervalued. Your 1 to 1 rate would result in them having a thousand times more currency value than similar countries. Makes no sense.

Usually, redenominations occur in countries that are VERY disrupted, have few developed, salable natural resources and are so corrupt they cannot even make a decision without a civil war. Iraq is not in that category, despite the best efforts of lopsters to say so. They have a government, they make laws, they are not in civil war, they have 10 years of oil development under their belts since the war and they are finishing up international banking infrastructure, electronic banking, etc.

More guru lies. Turkey was far less violent, far less unstable, had a government that actually got things done (unlike Iraq), had inflation under control, and had TEN TIMES the economy of Iraq, and they lopped. China lopped, twice. You going to say that China is a mess now? They're an economic powerhouse. Iceland lopped. France lopped. Taiwan lopped. The notion that every country that lops is a mess like Zimbabwe is nothing more than a guru lie, one that's easily proven false by five minutes of research.

U must be kidding right..? Now...why would they need to reduce their M2 when fixed and saving deposits in foreign currency is also part of their M2. Those could be part of their receivables from oil sales.

According to CBI: Money Supply (M2): represents (M1) adding to it quasi-money insurances and receivables of all sectors excluding central government.

Quasi-Money: represents other deposits including fixed, saving deposits in national and foreign currency for all sectors excluding central government.

Lol, you're right, there AREN'T tens of trillions of dinar in circulation, despite the mountain of proof to the contrary, and instead of spending oil sale proceeds on running the country and, oh, I dunno, food and electricity, they're saving it all so they can make money for foreign currency speculators.

You figured it all out. You're going to be a millionaire any day now. You've convinced me.

[zul]

Lol, you're right, there AREN'T tens of trillions of dinar in circulation, despite the mountain of proof to the contrary, and instead of spending oil sale proceeds on running the country and, oh, I dunno, food and electricity, they're saving it all so they can make money for foreign currency speculators.

You figured it all out. You're going to be a millionaire any day now. You've convinced me.

 

So..i take that as agreement that their M2 includes their foreign currency deposits. And there's no reason for them to reduce their M2, in fact it is even better if their M2 grows as their oil production increases.  

[JJ7]

So..i take that as agreement that their M2 includes their foreign currency deposits. And there's no reason for them to reduce their M2, in fact it is even better if their M2 grows as their oil production increases.

Uh, no. Even if half their M2 was foreign currency, which it isnt, it still means over 35 trillion of it is dinar, which means no RV.

Lol, massive M2 is a good thing. That's a new one.

U must be kidding right..? Now...why would they need to reduce their M2 when fixed and saving deposits in foreign currency is also part of their M2. Those could be part of their receivables from oil sales.

According to CBI: Money Supply (M2): represents (M1) adding to it quasi-money insurances and receivables of all sectors excluding central government.

Quasi-Money: represents other deposits including fixed, saving deposits in national and foreign currency for all sectors excluding central government.

One question. Who gets the proceeds from oil sales in Iraq? Ill give you a hint: it's the government. Now read your definition of M2 again. Particularly this part:

excluding central government

[hame55]

Quote

Then again, they can use dollars until I am seventy, another eighteen years. LOL

End Quote

 Hame, my Friend... Then you're  younger than me...I'm 56.

Yes, I turned 53 on Saturday last, May 25, (1960)

Thanks, Umbertino.

 

I had one of my finest meals in your beautiful country, in Florence in 2011, in a tiny bistro - it was pasta stuffed with mushrooms and covered with lobster sauce. Magnificent.

 

You have a lovely country, and I hope to visit it again soon. Perhaps we can meet up after the RV and tell stories. You have a wonderful, gentle spirit.

Quote

Then again, they can use dollars until I am seventy, another eighteen years. LOL

End Quote

 Hame, my Friend... Then you're  younger than me...I'm 56.

Perhaps it was seventeen years...they can use the dollar till I'm seventy.

[skeptic1138]

U must be kidding right..? Now...why would they need to reduce their M2 when fixed and saving deposits in  foreign currency is also part of their M2. Those could be part of their receivables from oil sales.

 

According to CBI: Money Supply (M2): represents (M1) adding to it quasi-money insurances and receivables of all sectors excluding central government.

Quasi-Money: represents other deposits including fixed, saving deposits in national and foreign currency for all sectors excluding central government.

A reasonable case can be made that they don't have to back M2, just M1 like Kuwait does (at least last time I checked).  Problem is that in Iraq M1 is 65T, so not much different than M2.   As GDP grows and broadens out (other industries besides oil) the money supply (M0, M1, and M2) will all grow.  The issue is that for a pegged currency at least M1 has to be backed by reserves, so that limits what they can do to the exchange rate.

[zul]

Uh, no. Even if half their M2 was foreign currency, which it isnt, it still means over 35 trillion of it is dinar, which means no RV.

Lol, massive M2 is a good thing. That's a new one.

One question. Who gets the proceeds from oil sales in Iraq? Ill give you a hint: it's the government. Now read your definition of M2 again. Particularly this part:

excluding central government

 

I'm talking about M2, not RV . You dont even know how much of M2 is a foreign currency.  Btw, CBI is only responsible for the money they created and that's M1.  M2 consist of deposits, and credit created by commercial banks. You guys need to read up. 

 

Hint : the government..? 

Just to let u know....the government dont drill oil, they dont sell oils and definitely they dont receives payment for oils. Now i'l give you a hint : government owned national oil company, SOMO.

 

So SOMO will receive proceeds from oil sales. That's where the money is kept. 

A reasonable case can be made that they don't have to back M2, just M1 like Kuwait does (at least last time I checked).  Problem is that in Iraq M1 is 65T, so not much different than M2.   As GDP grows and broadens out (other industries besides oil) the money supply (M0, M1, and M2) will all grow.  The issue is that for a pegged currency at least M1 has to be backed by reserves, so that limits what they can do to the exchange rate.

 

More than half of their M1 is in CBI's vault. So what is the real function of reserves. Do you know what central bank secrecy is? (Not limited to just CBI)..?

[Darin]

IF? Are you honestly saying there might not be trillions of IQD in circulation? Dinar trade sold over 500 billion dinar in 2011 alone. That's one company, in one year. There are hundreds of millions of IQD for sale on eBay each and every day. They've printed massive amounts of 25,000 dinar bills. All these things are facts. There ARE trillions of IQD in circulation, there's no ifs ands or buts, it's a fact.

Many gurus say it, when have they been right about anything? Let's do some basic math here:

There are 75 trillion IQD in circulation. Say that five trillion are outside the country. Iraq uses over half their reserves (reserves it took them 10 years to build up) and buys back 40 trillion dinar. Is this possible? No. It'd mean there wasn't a single solitary paper dinar in Iraq, plus it'd mean they'd have to make people denominate some digital dinar (i.e. bank balances) in a currency other than dinar as well, because there aren't 40 trillion paper dinar in Iraq to even buy back. It simply is NOT POSSIBLE. But let's pretend for a second it is.

Now there's 35 trillion dinar in circulation, 5 trillion of it outside the country. Let's pretend another impossible thing happened, and that they didn't spend any of their reserves to buy these back, so they still have 75 billion in reserves. 75 billion in reserves, M2 of 35 trillion, = they can RV to a whopping 467 to 1. About half a cent per IQD. Whoop de doo. But here's the kicker, since they took IQD OUT of the hands of their own citizens, it means they're putting the extra value INTO the hands of foreigners.

Right now, in the above scenario, Iraq has 70 trillion of their IQD in country, at 1166 per, = 60 billion USD worth of their own currency, in their own hands. After your proposed dinar buy back program, they end up with 30 trillion dinar in country, worth 467 per, = 64 billion. BUT, they spent 34 billion buying the dinar off the streets, so the end result is that they end up with 30 billion in their own currency inside Iraq. They just lost 10 billion dollars, and for what? So that foreign currency speculators can make a few dollars. The entire notion of "rounding up dinar in country" MAKES NO SENSE. Iraq would never do it, because it LOSES THEM MONEY.

Complete nonsense put out their by gurus that are either liars or enormously ignorant. How many hundreds of billions or trillions of different foreign currencies does the UST currently hold? Not a single one. And they're gonna start with the dinar? The currency of a violent third world toilet with nothing to offer the world except oil and pipe bombs? Why not the CAD? Why not the AUD? Why not the Yuan? Why not gold? Why not silver? Why not virtually ANYTHING but the hyperinflated currency of an unstable and violent country? The entire notion is completely silly, and makes no sense.

They can't even sustain 1166 in their own country, the notion that they could sustain a massively higher rate internationally is silly. Look at the M2s and GDPs of Iraqs neighbors. They've been posted on this site numerous times, and are easily Googleable. Iraqs currency is worth exactly what it should be. It isn't undervalued. Your 1 to 1 rate would result in them having a thousand times more currency value than similar countries. Makes no sense.

More guru lies. Turkey was far less violent, far less unstable, had a government that actually got things done (unlike Iraq), had inflation under control, and had TEN TIMES the economy of Iraq, and they lopped. China lopped, twice. You going to say that China is a mess now? They're an economic powerhouse. Iceland lopped. France lopped. Taiwan lopped. The notion that every country that lops is a mess like Zimbabwe is nothing more than a guru lie, one that's easily proven false by five minutes of research.

Lol, you're right, there AREN'T tens of trillions of dinar in circulation, despite the mountain of proof to the contrary, and instead of spending oil sale proceeds on running the country and, oh, I dunno, food and electricity, they're saving it all so they can make money for foreign currency speculators.

You figured it all out. You're going to be a millionaire any day now. You've convinced me.

U.S. side, many of the dinars sold may easily have been recirculated. Some who buy from DT, may turn and sell on eBay. Some who buy on eBay may turn and buy, realize that it was not the get-rich-quick scheme they hoped and turn around and sell it back to a dealer. Some may sell to others through private sale, simply to redeem a portion of their losses. But with that said, regardless of how much is sold through some figures may not be obviously accurate as it can obviously be re-circulated.

 

I sometimes find it entertaining that any slight move of the official rate will equate to a sudden run on banks. I bet even if they broke to a $0.01 value that not everyone would be so quick to run to the banks (Some will, dont get me wrong), but a lot of speculators, I bet, would continue to speculate. Than you can consider the new speculators who come in and buy thinking that it may be a feasible move as the currency is on an upwards trend and they hope that the value continues to improve from than on. But lets say in reality, that doesn't happen anytime soon and the bulk purchase is slowly depleted back into the system.

 

[zul]

Lol, massive M2 is a good thing. That's a new one.

 

 

Err.....you must be thinking growth in M2 is the same as growth in money base (M0). Well...sorry to disappoint you..., they are not. The money base remains the same. 

[handy]

Thanks again SWFG, I have "The creature from Jekyll Island " and The Bilderberg Group books on order now. Looking forward to your next interview. I agree that  this is controlled by folks with alot deeper pockets  .

[JJ7]

I'm talking about M2, not RV . You dont even know how much of M2 is a foreign currency. Btw, CBI is only responsible for the money they created and that's M1. M2 consist of deposits, and credit created by commercial banks. You guys need to read up.

Hint : the government..?

Just to let u know....the government dont drill oil, they dont sell oils and definitely they dont receives payment for oils. Now i'l give you a hint : government owned national oil company, SOMO.

So SOMO will receive proceeds from oil sales. That's where the money is kept.

More than half of their M1 is in CBI's vault. So what is the real function of reserves. Do you know what central bank secrecy is? (Not limited to just CBI)..?

Vault cash is never considered part of M1. Period. You're completely wrong. Do some research.

And SOMO just markets Iraqis oil. The government is who ultimately receives the money. How do you think they pay the budget? You're wrong again.

Err.....you must be thinking growth in M2 is the same as growth in money base (M0). Well...sorry to disappoint you..., they are not. The money base remains the same.

If they go out and print 10 trillion more dinar, does it add to their M2? Why yes, it does. You're very confused. You're also arguing a completely moot point, unless you're going to be so foolish as to argue that there AREN'T tens of trillions of dinar in circulation. Are you?

[JJ7]

Forget about M2. Just look at M1. Does the difference between the two change anything I've said? Does it make an appreciable difference in Iraqs ability to RV? NOPE. Try again.

[zul]

Vault cash is never considered part of M1. Period. You're completely wrong. Do some research.

And SOMO just markets Iraqis oil. The government is who ultimately receives the money. How do you think they pay the budget? You're wrong again.

If they go out and print 10 trillion more dinar, does it add to their M2? Why yes, it does. You're very confused. You're also arguing a completely moot point, unless you're going to be so foolish as to argue that there AREN'T tens of trillions of dinar in circulation. Are you?

 

I never said vault cash in part of M1. I said CBI is only responsible for the money they created. The money they created is in M1, which according to CBI  "represents money in circulation with the public adding to it current deposits in national and foreign currency for the private sector and public governmental institutions excluding central government. "

 

All oil sales done thru SOMO, not central government..., and obviously all payments will be made to SOMO. Guess where SOMO keeps the money from oils sales? Yep..u r right, in the bank. Everytime, they receives payment from oil sales, the figures in M2 increases. What that means is that,  increases in M2 does not necessarily means they printed more money. 

 

Since SOMO is a fully owned government company, most proceeds will eventually go to the government. Everybody knows that. 

[zul]

Forget about M2. Just look at M1. Does the difference between the two change anything I've said? Does it make an appreciable difference in Iraqs ability to RV? NOPE. Try again.

 

let me gives you the definitions of M1 ~ according to CBI :  

 

Money Supply (M1): represents money in circulation with the public adding to it current deposits in national and foreign currency for the private sector and public governmental institutions excluding central government. 

 

What that means is...forget about M1 as well. 

 

What you need to look at is currency in circulation. That's all. Not M2 and not M1 either, those are myths given by the LOP gurus. 

 

Lol! I'm not going to debate whether its going to RV or RD.  If you believe they are going to LOP, good luck to you. 

[JJ7]

I don't "believe" they're going to lop. They might, they might not. But what I KNOW is that a large RV is impossible. The tens of trillions in dinar in circulation completely prevents it.

[zul]

I don't "believe" they're going to lop. They might, they might not. But what I KNOW is that a large RV is impossible. The tens of trillions in dinar in circulation completely prevents it.

 

All central banks in the world are governed by central banks secrecy. The main objectives is to maintain stability. My personal feeling is, even if CBI has removed most of the 3 zeros notes, it wont be reflected anywhere.

 

We have read quite a number of news that tells the poor conditions of their currencies and how their citizen have been  complaining and begging for replacement.   Now...if we look at their financials, they have more than 30 trillion dinar (or there about) sitting in their vaults, so why not replace those damaged currencies.

 

Unless......

[umbertino]

LOL..................seriously. Sometimes I think you really believe what you post - lol

More or less we all do ( believe what we post).....

[SWFloridaGuy]

That d-bags site tore me up under their comment section (very first one on the site).  The guys name was Dinarck..  I've seen him here before, I may be mistaken but I think he where's that little  Richy Rich costume. Well, he decided to go after me last night for whatever reason calling me a pumper and blah blah blah.  Anyway, I posted a response last night but it doesn't look like they're willing to let their readers see it, as it has not been approved.  So, here's my response:

 

Dinarck, I'm afraid you're sadly mistaken. If you saw my questions they were I no way related to his responses, which is obviously out of my control.  I already have several economic experts who are willing to give their honest opinions lined up who I have named and their full bio and credentials will be presented.
 
You said a real economist would laugh at me, another ignoramus statement considering that's exactly what have said myself in the same chat threads you read concerning what happened to me last year at the Oxford Club meeting. Whether they predict a lop or a more favorable outcome is irrelevant. I am only after the truth and have attacked as many "gurus" as Sam.
 
If you read the post, you also read my comments saying although he is very well-respected, at this point in time we disagree, I see things differently. You are either severely deficient, have a personal vendetta against me or are just a genuinely bitter human being who will attack anyone know matter how scrupulous they try to be when presenting their information.  You have no proof we will not profit from this, I have no proof we will. 
 
But here's an idea how about we try to remain civil and admit there's a clear heterogeneity among dinarians and clearly obvious distinctions can be made between those who are pumpers an those (who right or wrong try to present solid research).  My opinions have obviously evolved since I entered into this investment, as have all of us, but I've been willing to learn from the false pretenses that caused me to initially sign up for this investment.
 
Sam does his homework and is obviously an intelligent person.  However, I detest the personal attacks which I have been victim of myself.  Yes, the frauds deserve to be exposed but until you are able to differentiate between pumpers and those who spend years doing research and simply express their opinions, I  will have zero respect for the members (for the most part) who come there to cry rather than taking responsibility for their own financial decisions and blame those you now refer to as imbeciles.

 

It's funny the same people you describe as nonsensical, were the same ones you took financial advice prior to doing your proper due diligence, whose fault is that?  Although, you claim we have all been indoctrinated, grouping every positive attitude together (whether pumper or clearly not) and a talk down to us like some 12 year old, you clearly have no erudition, which is why the number 12 came to mind. 

 

I have never hid behind anonymity, I have pictures up at every forum that I'm not banned from and belong to many dinar facebook groups under my real name.  Have you Dinarck or Sam (whose real name I wont mention). Which is ironic considering you pride yourself on exposing certain prevarications as for what they are.  Seems to be a one-way street to me.

 

Here's my advice, try being a bit more discerning when it comes to who you attack.  By the way, I challenge you to a debate Dinarck.  How about we commence after my next interview, which of course you are calling a fraud.  Kudos to this site for exposing certain truths, although you go about it in the wrong way.

 

Keep in mind we can profit from this and when you try debating their information rather than personal attacks maybe you'll gain more than 20 members. I myself have learned many untruths because of this site which I am grateful for.

 

But unfortunately you have a group of fairly intelligent people who do good research but also many more who prefer to be childish and persnickety, considering the amount of time they spend reading what they consider a waste of time. 

 

Sam this is not directed toward you, you'd have more class than to make such an imprudent accusation, considering I've devoted most of my time to debunking ridiculous rumors.  Such as I did once again tonight with my Forex report. I would appreciate it if you would remove me from your list of pumpers and reconsider a few others on that list as well.  Thank you and I look forward to hearing some responses permeating with perspicacious opinions rather than the usual, "you're just a lying pumper die scum."   Surprise me with a civil discussion, if that's even possible.  Thank you for your time.