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IRAQ'S LITTLE PILE OF GOLD IS WORTH...

fib1618

By fib1618,
in LOPster tank

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sandstorm Newbie

sandstorm

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However dim the chances of a potential rv...the climate for a rv has never been better. 1. Need international demand for dinar...thats looking good. need huge money coming in dollars.....thats looking good.

to be able to ever achieve a lower money supply those two elements will be key to whatever equation is even possible. i dont expect some major rv....but getting below 1000 to 1 is huge. at that point.....maybe they just delete two zeroes or whatever. i admit...some have wild unclaimed expectations.....but a change in the positive direction is possible. id care less if it takes 20 years to get one to one...just dont delete three zeroes

Stryker just embarrassed himself again....

yes he did. So much going on thats positive qnd he still feels the need to change definitions.
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fib1618 Newbie

fib1618

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....................

I just read this on the gold thread....

"HOLY GOD, I can't even begin to fathom that kind of wealth.

Lopsters still think they can't rv?"

Wealth? Like I pointed out above. That little pile of gold they have is worth about $1.2 Billion.

Zzzzzzzzzzzzzzzzzz

Edited by fib1618
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Sweet baby dinar Newbie

Sweet baby dinar

Posted
Posted

....................

I just read this on the gold thread....

"HOLY GOD, I can't even begin to fathom that kind of wealth.

Lopsters still think they can't rv?"

Wealth? Like I pointed out above. That little pile of gold they have is worth about $1.2 Billion.

Zzzzzzzzzzzzzzzzzz

I was thinking the same thing, it's ok the ones that have lived through all the 2010 rv hypes are not as shocked about a few photos of gold...lol

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Rayzur Newbie

Rayzur

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Iraq is a member of the IMF. They could have a mountain with a billion tons of gold and it would not matter in terms of the value of their currency. An IMF member can NOT monetize against gold.

For those who did not want to wade through all the words in understanding how the IMF works... here is a little snippet...

 

With the discontinuance of a par value system based on gold IMF members now use a variety of ways of valuing their currency. One way is to allow the currency to float freely with its value being determined on currency markets, a method favored by many industrial nations. In another method, a country may choose to manipulate currency markets in its favor by buying and selling its own currency. In a third alternative, a country may choose to peg the value of its currency to that of another currency. Regardless of the method used, IMF members may not peg the value of their currency to gold

 

Further on in this post, is included Section C of the IMF Agreements, discussing the process  a member follows in establishing the par value of their currency:

Schedule C: Par Values

  • 1. The Fund shall notify members that par values may be established for the purposes of this Agreement, in accordance with Article IV, Sections 1, 3, 4, and 5 and this Schedule, in terms of the special drawing right, or in terms of such other common denominator as is prescribed by the Fund. The common denominator shall not be gold or a currency.
  • 2. A member that intends to establish a par value for its currency shall propose a par value to the Fund within a reasonable time after notice is given under 1 above.
  • 3. Any member that does not intend to establish a par value for its currency under 1 above shall consult with the Fund and ensure that its exchange arrangements are consistent with the purposes of the Fund and are adequate to fulfill its obligations under Article IV, Section 1.
  • 4. The Fund shall concur in or object to a proposed par value within a reasonable period after receipt of the proposal. A proposed par value shall not take effect for the purposes of this Agreement if the Fund objects to it, and the member shall be subject to 3 above. The Fund shall not object because of the domestic social or political policies of the member proposing the par value.
  • 5. Each member that has a par value for its currency undertakes to apply appropriate measures consistent with this Agreement in order to ensure that the maximum and the minimum rates for spot exchange transactions taking place within its territories between its currency and the currencies of other members maintaining par values shall not differ from parity by more than four and one-half percent or by such other margin or margins as the Fund may adopt by an eighty-five percent majority of the total voting power.
  • 6. A member shall not propose a change in the par value of its currency except to correct, or prevent the emergence of, a fundamental disequilibrium. A change may be made only on the proposal of the member and only after consultation with the Fund.
  • 7. When a change is proposed, the Fund shall concur in or object to the proposed par value within a reasonable period after receipt of the proposal. The Fund shall concur if it is satisfied that the change is necessary to correct, or prevent the emergence of, a fundamental disequilibrium. The Fund shall not object because of the domestic social or political policies of the member proposing the change. A proposed change in par value shall not take effect for the purposes of this Agreement if the Fund objects to it. If a member changes the par value of its currency despite the objection of the Fund, the member shall be subject to Article XXVI, Section 2. Maintenance of an unrealistic par value by a member shall be discouraged by the Fund.
  • 8. The par value of a member’s currency established under this Agreement shall cease to exist for the purposes of this Agreement if the member informs the Fund that it intends to terminate the par value. The Fund may object to the termination of a par value by a decision taken by an eighty-five percent majority of the total voting power. If a member terminates a par value for its currency despite the objection of the Fund, the member shall be subject to Article XXVI, Section 2. A par value established under this Agreement shall cease to exist for the purposes of this Agreement if the member terminates the par value despite the objection of the Fund, or if the Fund finds that the member does not maintain rates for a substantial volume of exchange transactions in accordance with 5 above, provided that the Fund may not make such finding unless it has consulted the member and given it sixty days notice of the Fund’s intention to consider whether to make a finding.
  • 9. If the par value of the currency of a member has ceased to exist under 8 above, the member shall consult with the Fund and ensure that its exchange arrangements are consistent with the purposes of the Fund and are adequate to fulfill its obligations under Article IV, Section 1.
  • 10. A member for whose currency the par value has ceased to exist under 8 above may, at any time, propose a new par value for its currency.
  • 11. Notwithstanding 6 above, the Fund, by a seventy percent majority of the total voting power, may make uniform proportionate changes in all par values if the special drawing right is the common denominator and the changes will not affect the value of the special drawing right. The par value of a member’s currency shall, however, not be changed under this provision if, within seven days after the Fund’s action, the member informs the Fund that it does not wish the par value of its currency to be changed by such action.

http://dinarvets.com/forums/index.php?/topic/154119-understanding-the-imf-resist-the-goo-roo-poo-poo/#rep_filter_menucontent

 

Its fun to talk about this stuff... and I think important to understand what is and is not going to drive the value of the dinar as it moves onto the international platform of....

Sometimes I wonder if  perhaps the "smoke and mirrors" claims might be more an issue of not adequately investigating the reflection?

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fib1618 Newbie

fib1618

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Someone just posted this...

"I really don't get this thread ..... oil is up almost $30/ barrel in the past 3 months alone, It sure as hell isn't going down anytime soon as far as I see it.

Oil hasn't been lower than $60 per barrel in the past ten years but it has been as high as $140, I think it more likely that were going to have higher oil prices in the near future."

WTIC HIT A LOW OF $33 about 4 years ago.

This stuff isn't rocket science. Pull up a durned chart. Zzzzzzzzzzzzzzzzzzzzzz

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Sweet baby dinar Newbie

Sweet baby dinar

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Posted

Someone just posted this...

"I really don't get this thread ..... oil is up almost $30/ barrel in the past 3 months alone, It sure as hell isn't going down anytime soon as far as I see it.

Oil hasn't been lower than $60 per barrel in the past ten years but it has been as high as $140, I think it more likely that were going to have higher oil prices in the near future."

WTIC HIT A LOW OF $33 about 4 years ago.

This stuff isn't rocket science. Pull up a durned chart. Zzzzzzzzzzzzzzzzzzzzzz

Does that mean when this baby hits, it will go with a basket at 1 to 1????

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fib1618 Newbie

fib1618

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Does that mean when this baby hits, it will go with a basket at 1 to 1????

I literally fell off my my bunk bed when I read this. Thanks for the laugh... And the bruise on my right lattisimus dorsi.

Edited by fib1618
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fib1618 Newbie

fib1618

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I don't think anyone else in on the gold standard globally, are they?

There's a jungle tribe in Central America that's still on it. Okie flew his Cessna down there one time and smoked some herb with the medicine man.

......................

Someone in the forum is all excited about the article that mentions Iraq "moving the decimal" on their currency.

Let's not tell him they're talking about a LOP.

:D :D

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shellfish Newbie

shellfish

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Posted

.............................

Pop quiz....

Name one currency that was SUDDENLY revalued UPWARD by more than 30%.

Name that currency, but I also want to see some proof.

Gimme a link.

................

 

It was a Tuesday.Chinese currency. A 45 second window @ %30.2. Wait you want proof,never mind.

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Newbster Newbie

Newbster

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.............................

Pop quiz....

Name one currency that was SUDDENLY revalued UPWARD by more than 30%.

Name that currency, but I also want to see some proof.

Gimme a link.

................

 

 

I don't have the link for the proof, but wasn't it the Leu?

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