YOU WANT SOME FREE DINAR????

[caz1104]

not familiar at all. No stage one of denial followed by alligator tears and personal attacks.

There isn't a chart because it never happened.

Are you trying to say it did? Then please show fib the chart and collect yo money

Fibs whole point is to show it didn't happen. And no one has shown otherwise.

Just show where the Kuwait dinar went from pennies back to over 3.

But there is overwhelming evidence of a 1:1 neutral exchange.....that's the only evidence presented

And caz, that's the cbi shoving a lop down your throat. If you want to call it your rv, then fine. But if you think deleting zeroes is something different, your going against grain. Make sure putt it a little stronger and it might break a little more or a little less

You missed my point completely - everything I was referring to was what Fib wrote..........his exact words and how they were responded to by others.

A calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e. central bank) can alter the official value of the currency. Contrast to "devaluation".

 

For example, suppose a government has set 10 units of its currency equal to one U.S. dollar. To revalue, the government might change the rate to five units per dollar. This would result in that currency being twice as expensive to people buying that currency with U.S. dollars than previously and the U.S. dollar costing half as much to those buying it with foreign currency.

 

http://www.investopedia.com/terms/r/revaluation.asp

 

 

It's a calculated adjustment, not a market induced fluctuation.

 

No, it doesn't state it but we all knew what he was referring to.

Say what ya mean & mean what ya say..................we responded to what was written, really quite simple.

A calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e. central bank) can alter the official value of the currency. Contrast to "devaluation".

 

For example, suppose a government has set 10 units of its currency equal to one U.S. dollar. To revalue, the government might change the rate to five units per dollar. This would result in that currency being twice as expensive to people buying that currency with U.S. dollars than previously and the U.S. dollar costing half as much to those buying it with foreign currency.

 

http://www.investopedia.com/terms/r/revaluation.asp

 

 

It's a calculated adjustment, not a market induced fluctuation.

 

No, it doesn't state it but we all knew what he was referring to.

This was the post I was responding to - sorry

computer issues two days in a row....................cheap computer got as a throw in from DT for being longtime loyal customer - lol

[hame55]

Oh my God! This thread is so sad. We have an idiot President running this country into the abyss. We have another thread posted about joining the "Overpasses for Obama's Impeachment" garnered 1 page and this one takes precedent with 5 pages over what could affect our country's future. Ladies and Gentlemen, no wonder America is circling the toilet bowl. Whether or not someone can show a revalue in Kuwait's money is more important than impeaching the worst SOB President in American history. WHERE ARE THE AMERICAN PATRIOTS ON THIS SITE? We have bigger fish to fry and it seems people would rather get caught up in trivial stupidity than take on the most important problem America faces. GOD HELP US!

I was born an American. I live as an American; I shall die an American; and I intend to perform the duties incumbent upon me in that character to the end of my career. I mean to do this with absolute disregard to personal consequences. - Daniel Webster

Remember we are here to discuss the dinar...

Not listen to your obsessed, IGNORANT rants about things you obviously know NOTHING about.

 

Just keep starting your own crazy threads about the Muslim so we can avoid them...don't come here WHINING....

[bigwave]

I will give a half a million dinars to the first person who can post a historical currency chart showing the kuwaiti RV. If it happened, it will most definitely show up on the chart and shouldn't take more than a few minutes to find. Bring it to papa......

Well Jiminy Cricket we all know Kuwaiti did't RV. 

[fib1618]

Well Jiminy Cricket we all know Kuwaiti did't RV.

Yeah right. Lol!

Throw up a forum poll. You'd be surprised.

[dinarbeleiver]

Hey Fib this is going to get expensive for you. If it revalues this year you owe me half a million dinar

[fib1618]

Hey Fib this is going to get expensive for you. If it revalues this year you owe me half a million dinar

I thought I said a million...

I'll check later.

[dinarbeleiver]

yes you did say a million dinar

I expect a payout this year fib

[fib1618]

yes you did say a million dinar

I expect a payout this year fib

I'm good for it bro. What u give me when it doesn't? A $25 subway restaurant card?

[dinarbeleiver]

I will buy you a maccys happy meal fib in one of Yorkshires restaurants lol

You will have to get a plane ticket to the UK for it though

[fib1618]

I will buy you a maccys happy meal fib in one of Yorkshires restaurants lol

You will have to get a plane ticket to the UK for it though

Nothing like a happy meal. Lol

[dinarbeleiver]

Nothing like a happy meal. Lol

lol your quite a nice lopster person fib1618. One question how much dinar do you own -its expensive to offer that amount of dinar. Here is one to make you chuckle GO LOPPPPPPPPP!!!!!!!!!!!!!!!!!!!!!!!!!

[fib1618]

lol your quite a nice lopster person fib1618. One question how much dinar do you own -its expensive to offer that amount of dinar. Here is one to make you chuckle GO LOPPPPPPPPP!!!!!!!!!!!!!!!!!!!!!!!!!

Just a touch over a million.

Go rv.

Edited August 15, 2013 by fib1618

[dinarbeleiver]

so you own a touch over a million. you must be expecting to make approx. 3000 dollars i.e 3x the amount of what they are worth. Go LOP !!!!!!

I expect you to make at least 3000000 dollars with that amount

But I forgot taxes not sure what they are planning with taxes in the USA

[fib1618]

so you own a touch over a million. you must be expecting to make approx. 3000 dollars i.e 3x the amount of what they are worth. Go LOP !!!!!!

I expect you to make at least 3000000 dollars with that amount

But I forgot taxes not sure what they are planning with taxes in the USA

I'm expecting to use them to run a wallpaper border around the powder room when it RD's.

[Bumper64]

Fib, seeing that your are so sure it's not going to RV. Go ahead and wallpaper your border with your dinar and make sure you use lots of glue so it will have to be scraped off and unusable.

[fib1618]

Someone just posted this in the forum...

"from what I understand this is not going to be a normal revaluation but more of a currency shock appreciation similar to the German mark after ww2. Iraq is a different situation to the data available and you can't compare it to previous data"

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

If that German Mark "currency shock appreciation" really happened it would absolutely show up on a historical chart. Please bring us the proof.

If it's not on the chart it didn't happen. It's that simple.

Edited August 16, 2013 by fib1618

[FreckledFuzz]

Are you serious Fib?

 

You know currency related charts are pretty much non-existant prior to 1970.

 

 

Why do you insist on being difficult?

 

 

Go stir some soup!

[fib1618]

Are you serious Fib?

You know currency related charts are pretty much non-existant prior to 1970.

Why do you insist on being difficult?

Go stir some soup!

I'm stirring! I'm stirring!

[FreckledFuzz]

Sorry Fib--I can't give you a link

 

 

For the 1st 60, there was a 1:1 exchange

 

after that it was 10:1

 

 

 

 

shall not exceed one Deutsche Mark for every Reichsmark of old currency

credit balances.10
It could therefore reasonably be inferred that these balances were to be converted at 1:1.
Supplementary regulations covered acceptance of RM postage stamps on letters in transit, the
continuing validity of season tickets, and extraordinary procedures for the payment of quotas.
Law No. 62, the “Second Law for Monetary Reform (Issue Law), likewise to come into effect
on 20.June, was much shorter, and outlined the terms of reference of the Bank deutscher
Länder, the newly-formed central bank for the three Western zones of occupation. This dealt
with the issue and withdrawal of notes, the replacement of the existing small change with
proper coinage, it limited notes and coin in circulation to 10 bn. DM (Art. V) and established
reserve requirements for the Land Central Banks (Art. VI). The first and second laws came
into effect on Sunday 20.June, and when public trading resumed on the Monday all
transactions were made in DM, former RM wages, prices and rents simply being
redenominated at the rate of 1:1.
As we have seen, the First Law contained more than one exchange rate between the DM and
the RM, but made no mention of the future treatment of the Reichsmark Liquidation Account
balances, which brought together all existing monetary assets. This was clarified by Law No.
63, the “Third Law for Monetary Reform (Conversion Law)”, which was announced later
during the week of the conversion and came into force one week after the beginning of the
Reform, on 27.June:
In principle, old currency credit balances pertaining to Class I11 shall be
converted so that the owner is credited with one Deutsche Mark for every ten
Reichsmarks. Of this, one half shall be credited to a free Deutsche Mark
account (Freikonto) and the other half to a blocked Deutsche Mark account
(Festkonto), with regard to which regulations will be issued within 90 days.12

This Law came into force the day after all RM currency became invalid, acting therefore
directly on the established RM liquidation accounts. The Third Law also decreed that where
such accounts had sufficient balances a further 540 RM per capita was payable in respect of
the 60 DM quota allocation,13 and by ten RM for each DM received as an advance by
employers in respect of their employees under Law No. 61 Art. XVII. Balances, where they
existed, were freed for conversion subject to clearance from the Tax Office, up to a limit of
5000 RM for individuals and 10,000 for members of trades or professions (Art. V).14 Article
XVI stated the principle that all RM financial claims were to be converted into DM at 10:1,
with an exception being made for social insurance payments pending reform by the German
authorities (Art. XXIII). The residual 20 DM cash allocation was made in September, and
then in October 70% of deposits in blocked accounts was liquidated, 20% released and 10%
made available for investment. A new rate of exchange with the dollar was also established,
at 1 DM = 30 cents.15

 

 

 

 

e:\1948 currency reform.doc 16 February, 2001: page 6

5000 RM for individuals and 10,000 for members of trades or professions (Art. V).14 Article
XVI stated the principle that all RM financial claims were to be converted into DM at 10:1,
with an exception being made for social insurance payments pending reform by the German
authorities (Art. XXIII). The residual 20 DM cash allocation was made in September, and
then in October 70% of deposits in blocked accounts was liquidated, 20% released and 10%
made available for investment. A new rate of exchange with the dollar was also established,
at 1 DM = 30 cents.15

The general monetary objective of the reform had been to cut the money supply by 90%
through the surrender of RM for DM at the rate of 10:1, a rate originally established in the
Colm-Dodge-Goldsmith Plan of April 1946 on the basis of a comparison of the existing
national product and the money supply with that prevailing in 1938.16 As we shall see, the
appropriateness of the 10:1 ratio was disputed by British officials at the time, and today a
more balanced appreciation of the relationship of economic activity to money supply raises
doubts about the necessity of a 10:1 cut in money supply in 1948. Furthermore, as noted in
fn. 7, since 1945 monetary assets would have been redistributed through the black market
towards those able to obtain goods or who could sell produce, and so the impact of the
Reform was perhaps more inequitable than might at first appear. In fact the Colm-Dodge-
Goldsmith Plan had recognised the impact of war and post-war dislocation upon household
incomes and provided for a general redistribution of assets. In the 1948 version, however, the
Allies merely called upon the “appropriate German legislative bodies” to deal with the
equalisation of non-monetary losses and assets by 31.December 1948, proposing a levy on
property which would readjust the balance between real and monetary assets.17

The text of the three Laws was published in English and German, column by column, with
the German version being the official text.18 Working through the text as above draws
attention to the fact that this was a military law, a scheme devised by the Western Allies,
although drafted in detail by German experts. This requires emphasis, for the Reform is often
run together with a number of parallel measures which liberalised the economy of the three
western zones, but where we need to be careful in attributing the source of the initiative.

 

 

 

 

 

implications of the arguments which were advanced for and against a Currency Reform
during the 1940s.

2. The Currency Reform: Terms and Conditions

The German Currency Reform involved both the substitution of one currency for another, and
the sterilisation of monetary assets. The process began on Friday 18.June 1948 with the
promulgation by the three western Military Governments of the first two laws, to come into

force on Sunday 20.June 1948. Article I of Law No. 61, the “First Law for Monetary Reform
(Currency Law)”, established the Deutsche Mark as the legal currency from Monday 21.June,
with Allied Military Marks of 1 and ½ Mark denominations, and Rentenbank notes of 1
Mark, being recognised until 31.August at one-tenth of their face value – resolving the
problem that no small coin for the new currency yet existed.

6 Where existing laws and
ordinances employed the Reichsmark, Rentenmark or Goldmark as a unit of account this
should in general be henceforth read in DM (Art. II). Monetary obligations arising from
application of these laws and ordinances were therefore to be written on 1:1 from the old to
the new currency. A deadline of midnight on 26.June (ie. the Saturday of the week following
the Reform) was set for all RM obligations (Art. IV). Article V provided for wages and
salaries due later than the end of June, and this concluded Part One of the Law, subtitled
“Conversion of Currency”. Note that it includes two conversion rates, 1:1 under Article II
and 10:1 under Article I.
Part Two of the Law dealt with the allocation of new DM to individuals above and beyond
the conversion of their pending wages and salaries. Here commentary is often rather blurry,
and so it is worth quoting Article VI in its entirety:
Every inhabitant of the specified area shall receive in cash Deutsche Marks, in
exchange for old currency notes as defined in Article IX paragraph 1(i)7 of the
same nominal amount to a maximum of 60 Deutsche Marks (quota per capita),
of which not more than 40 Deutsche Marks shall be paid immediately and the
remainder within two months. Where the person entitled can claim amounts
in Deutsche Marks as a result of the subsequent conversion of old currency as
defined hereinafter (Altgeld), the quota per capita shall be charged against the
amount thus due.
The quota was to be issued to ration card holders, who in turn were required to surrender 60
RM in order to receive 40 DM immediately, and a further 20 DM at a later date. The 60 DM
was an exchange for a nominal equivalent amount of cash denominated in the old currency; it

6

Military Government Gazette No. 25 Law no. 61 pp. 848-9.

7

Reichsmark notes, Rentenbank notes greater than 1 RM, and Allied Military Marks with a value greater than 1

Mark –

Gazette No. 25 Law No. 61 Art. IX p. 850.
 

was a maximum, so that if you did not have 60 RM in cash

8 you did not get the full 60 DM
allocation. Furthermore, where individuals held accounts which were to be converted from
old to new money, the quota was to be charged against these accounts. As we shall see, this
meant that account holders could end up paying 600 RM for their 60 DM quota, instead of 60
RM, although they would not have become aware of this until the following October.

The old currency became invalid for new transactions from 21.June (Art. VIII), and all RM

credit balances held in specified financial institutions became defined as “old currency” along
with RM notes and Allied Military Marks (Art. IX). All old currency was, as we have
already seen, to be declared and surrendered by 26.June 1948, the obligation to do so being
laid upon juridical and natural persons, the latter taxable subject

9 then acting on behalf of any
dependants (wife and children). Currency was to be surrendered at specific institutions,
primarily banks and buildings societies of various kinds, but not the Postal Cheque Office
and the Postal Savings Institute (Art. XII). Large private and government places of
employment were also authorised for this purpose on behalf of the Land Central Banks. On
receipt of the form declaring monetary assets the identity cards of those included on the form
were punched in a defined manner to obviate future claims (Art. XII.5), and the balances
placed in a Reichsmark Liquidation Account (Art. XIV). Procedures were also outlined to
cover misreporting of various kinds. Part Five, the final substantive section of the First Law,
dealt with the issue of new currency to public authorities and businesses. The Land Central
Bank was made responsible for supplying agencies and offices with a sum of DM one-sixth
of Land receipts during the last quarter of 1947 and the first of 1948, to which was added
one-sixth of Zone receipts during the same period (Art. XV). For the ensuing half a year,
therefore, public authorities received an allocation about one third of former annual receipts,
introducing a further variation on the rate of exchange between DM and RM. Businesses
were entitled to claim 60 DM per employee payable against their balances of old money, a
requirement being that payment so made

8

60 DM was roughly a week’s pay for a working man; a skilled worker in Hamburg at this time would have
earned 10 RM per eight hour day, and a six-day week was the official norm (official statistic cited in
Buchheim, “Die Währungsreform in Westdeutschland”, p. 193). Mendershausen and Matchett in their
estimate of cash and deposit holdings in early 1946 estimated that 66.5% of the population in the US Zone
and Berlin Sector held less than RM 250 in cash, that 28% of the adult population had no bank accounts,
and that another quarter of the population had less than 2000 RM in bank and savings accounts: “Annex H:
Analysis of Size Distribution of Cash and Bank Deposits”, Colm-Dodge-Goldsmith Plan, reprinted in H.
Möller (ed.) Zur Vorgeschichte der deutschen Mark, J. C. B. Mohr (Paul Siebeck), Tübingen 1961, pp.
459, 457. It is reasonable to suppose that during 1947 redistribution from poorer to richer households, and
from urban dwellers to farmers, exacerbated this position. Burchardt and Martin drew attention to this
when they noted that “…it must not be forgotten that in contrast to a country such as Britain all goods, bar
the most essential ones, have become liquid assets and that the process of inflation continues to be fed by
turning household stocks into money or directly into other goods.” – F. A. Burchardt, K. Martin, “Western
Germany and Reconstruction”, Bulletin of the Oxford University Institute of Statistics Vol. 9 (December
1947) p. 409. It is therefore more than probable that many poorer urban households did not receive their
full 60 DM allocation per person.

9

The German text is more precise here; it refers to those natural and juridical persons which are
“steuerpflichtig” rather than “subject to taxation” - Gazette No. 25 Law No. 61 § 11 p. 850.

I should have highlighted this also

 

 

 

60 DM quota allocation,13 and by ten RM for each DM received as an advance by
employers in respect of their employees under Law No. 61 Art. XVII

Edited August 16, 2013 by FreckledFuzz

[fib1618]

Where's the big currency shock appreciation?

"The Deutsche Mark was introduced on Sunday, June 20, 1948 by Ludwig Erhard. The old Reichsmark and Rentenmark were exchanged for the new currency at a rate of DM 1 = RM 1 for the essential currency such as wages, payment of rents etc., and DM 1 = RM 10 for the remainder in private non-bank credit balances, with half frozen. Large amounts were exchanged for RM 10 to 65 Pfennig. In addition, each person received a per capita allowance of DM 60 in two parts, the first being DM 40 and the second DM 20."

I wish member "HIGHLANDER" was out there to chime in. She did some real in depth study into this.

I think i have it saved on my laptop... I'll see if I can dig it up tomorrow afternoon.

[FreckledFuzz]

Quoting Wikipedia?

 

Really?

 

 

 

You do know anyone on Earth can edit that stuff--and enter it until someone else comes along.

 

 

Could you please give it a break for once-- or go get ready for LO to set up your trading [even I trade Fridays at times]

 

Do your own homework

 

What I posted was essentially a 1 zero LOP. It'd be like getting a dime per dinar if they redenominated at $1.00

 

 

I think that's shocking anyway---

 

good night. I've got my own charts to set up.

 

 

Like starting to build a short into EURUSD--knowing it could spike to 1.34--but I'm OK with that

[fib1618]

I believe People were only allowed to exchange 1000 of their old RM at the 10:1 ratio.

I'll have to check on that.

Quoting Wikipedia?

Really?

You do know anyone on Earth can edit that stuff--and enter it until someone else comes along.

Could you please give it a break for once-- or go get ready for LO to set up your trading [even I trade Fridays at times]

Do your own homework

What I posted was essentially a 1 zero LOP. It'd be like getting a dime per dinar if they redenominated at $1.00

I think that's shocking anyway---

good night. I've got my own charts to set up.

Like starting to build a short into EURUSD--knowing it could spike to 1.34--but I'm OK with that

Dude, it's late and I'm tired and on my iPhone. I swear I won't bring any more wiki into the tank. Lol

Good luck with your trading tomorrow.

[Djorgie]

That's a little unfair considering that the Kuwaiti dinar NEVER RVd! But what do I know lol?

[shellfish]

Tricky Lobster.Make it a billion it's still safe. As much as I know you can't lose this prop I'm still very hopefull that we can beat the 30% China revalue .You probably think so too or you wouldn't be hanging or floating around. To the best of my knowledge a meager number of servicemen working the border cleaned house ,and good for them in Kuwait. No documented 100,000,300,000,and now the chirping of 1,200,000 % RV has ever or will ever happen. "Fib" loved when you jumped on that "pile" of gold that was allowed to slide as 1.2 Trill when at 1.2 Bill that gold would belong to my 5 neighbors alone @ $3.41 per . Wish I could give one example but I can't . Let's max out ASAP 3-5X investment at least please.Such good folks at DV I want it for them as much as myself because I want and am so gratefull to not need. Folks by the way you have a better chance of finalizing "PI" than getting "Fibs" soggy Dinar.

[jackster]

Someone just posted this in the forum...

"from what I understand this is not going to be a normal revaluation but more of a currency shock appreciation similar to the German mark after ww2. Iraq is a different situation to the data available and you can't compare it to previous data"

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

If that German Mark "currency shock appreciation" really happened it would absolutely show up on a historical chart. Please bring us the proof.

If it's not on the chart it didn't happen. It's that simple.

 Here's a chart I found on the German Mark.

 

http://www.history.ucsb.edu/faculty/marcuse/projects/currency.htm

 

A devaluation occured Sept 1949.  Then an RV took place 20 years later Oct 1969 of 8.72%