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conversation today with former IMF/World bank employee


mauser
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True.

But then, as you are already well aware of, from your own ranks.. there's a reason for the term "eccentric".

I know an individual that has  bank accounts with  balances larger than some small countries GDP's, that drive around in a dented, beat up 30 year old Datsun pick up that's even missing the gas cap.. but he owns huge factories he leases out to large corps, and several municipal buildings leased by cities and states.

I've seen him pay cash for a 20M business complex, then dump another several million into improvements.

One of my best friends buys 1m+ properties for cash, rehabs, then sells, does 3 or 4 a year, and does the basics himself, painting, sheet rock, etc.

Not all wealthy are splurge, just as not all "educated" are agnostic.

Besides, the idea that a person with wealth must display their wealth by consuming is an illusion created by marketing.

And even though some universities would try to convince you any degreed individual has to be "too smart" for Christianity, most would argue they have obviously confused religion with spirituality. 

 

It is only the simple minded or arrogant that are compelled to obey the commercial.... 

 

DM

 

Yep, so true. My neighbor across the street worked for Carrol Shelby before he died at a warehouse in Torrance Ca where he stored many of his personal cars from his collection. He lived in Beverly Hills and drove a beater Ford Aerostar van for years. My neighbor would take him shopping and his favorite store was the 99 cents only store. His buddy Iskederian (Isky racing camshafts) is very wealthy and drives a beater van also and likes to dumpster dive and packrat stuff.

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Well, thanks for the post. I had a patient who was a World Bank-Middle East region-director. I asked him (as I do ALL my patients from that area or who are very rich) about the dinar, etc. He told me that the currency would appreciate, but it would be quite some time. That was about 2 years ago. The point is, that each person has their own opinion about the same data. Figures are such that you can develop a completely opposite viewpoint looking at those same figures. The numbers don't lie, but what they represent to you might lead you the other way. Dunno, just saying.....Cheers

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He's got millions of Dinars himself, and is keeping a tight lip about it as well. Working for IMF for 20 years and 10 at WB...he has to know that Black Gold might bring in the $$$ to the country that has an abundance of it, but for a country NOT to increase the BUYING POWER of their currencies would be TOO STUPID not too, and knowing the Iraqi/Arabic people...they are too proud not to do such a thing.

 

 

Iraq WILL INCREASE their currencies BUYING POWER, it's a matter of making sure that everything will go as they plan and the system works well bove 97%, and counterfeiting of their current Dinars are totally under control.

 

 

GO RV!  "GOD BLESS AMERICA", COUNTRY OF THE FREE, AND HOME OF THE BRAVE!

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"They don't need to increase the value of their money, they get their money from the oil. Not exports"

 

 

 

I only have one question, isn't oil an export?

Well true....didn't mean it that way...but they don't have manufactured exports or crop exports or any other tangible exports. Oil is a very big export but mostly their only one. I guess they do only have to have one .... or two....don't have to be diversified :)

 

 

And we just bought a new bed...our old one is just fine but my hubby has a bad back so we went with the sleep number bed....and sold our old bed. Not everyone can afford a brand new bed and ours was still in great condition...why toss it to the curb?

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Thanks for the information.

He stated that China keeps the value of their money low due to the amount of exports and very little imports. That Iraq could do the same due to the oil. However, that is pretty much all they export and they do import quite a lot until they get their infrastructure back up to support the citizens. Not that the oil export couldn't keep the value of their currency low, the have lots of exports.

 

That being said....Iraq has stated they want to have a strong currency in the region.

 

I agree with Flint.

They could rebuild their whole country using only US$ they get from the oil.

 

Also, Middle east countries gives part of the oil riches back to their people in their currency.

It make no sence to give USD back to Iraqi people nor give it back at current rate, they would need at least a rate of 250 IQD fo one USD.

Its one reason they would like to remove the zeros.

 

When we will se the HCL signed and money to the people and lower denom we will see the RV.

We need to see al 3 happening.

 

I would also agree that we are also very close to a civil war and that is scary for our investment.

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***///

 

We want to believe the RV could happen and in such a way as to make us Dinarians very happy. ^_^

 

But we read every day how they are having their auctions, rolling in USD all over the place,

maintaining the status quo and feel more and more like this could just go on indefinitely. 

 

And we begin to lose hope.

 

And in that regard, this conversation with Mr. Ancient WorldBank guy seems to confirm that. :(

 

But then we think, hey, there's always hope.... 

 

if a guy who's supposed to be so smart and savvy about global money goings-on is so

destitute as to have to sell some guy a USED BED,

maybe he's NOT that smart and his opinion may hold NO validity after all.

 

So, we'll continue to live in hope, lest we die in despair... ;)

  Perhaps the bed was from an unused guest room, and as far as I know there are not many "destitute" homeowners amongst the rebuilt half acre "homestead" sectors, many of which are worth millions $'s. in Longboat Key.

 Talking to a friend who knows that area, he said that 20+% of occupancy in these properties are single 65 yrs. +, but then again he is in real estate , and who trusts anyone in that line, lol.

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  Perhaps the bed was from an unused guest room, and as far as I know there are not many "destitute" homeowners amongst the rebuilt half acre "homestead" sectors, many of which are worth millions $'s. in Longboat Key.

 Talking to a friend who knows that area, he said that 20+% of occupancy in these properties are single 65 yrs. +, but then again he is in real estate , and who trusts anyone in that line, lol.

***///

 

Average homes there are 1/4 million and up.  Even Condos are in the 300,000. +/- 

 

There are HUGE numbers of them on the market right now, people trying to dump them mostly due to the Insurance crisis we're having here in FL for waterfront homes especially,( the cost is HUGE, underwriters don't like 'em at all - too risky)

 

and also the market, banks don't want to do re-fi's on them because of the risk and ages of their residents.  If a homeowner defaults, they have a real red herring on their hands and a limited market to dump it back into.

 

And yes, they are a haven for the well-set elderly.

 

And we do hope he was selling a bed and not a mattress, regardless! :lol: but that's just us ! yuck!

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True.

But then, as you are already well aware of, from your own ranks.. there's a reason for the term "eccentric".

I know an individual that has  bank accounts with  balances larger than some small countries GDP's, that drive around in a dented, beat up 30 year old Datsun pick up that's even missing the gas cap.. but he owns huge factories he leases out to large corps, and several municipal buildings leased by cities and states.

I've seen him pay cash for a 20M business complex, then dump another several million into improvements.

One of my best friends buys 1m+ properties for cash, rehabs, then sells, does 3 or 4 a year, and does the basics himself, painting, sheet rock, etc.

Not all wealthy are splurge, just as not all "educated" are agnostic.

Besides, the idea that a person with wealth must display their wealth by consuming is an illusion created by marketing.

And even though some universities would try to convince you any degreed individual has to be "too smart" for Christianity, most would argue they have obviously confused religion with spirituality. 

 

It is only the simple minded or arrogant that are compelled to obey the commercial.... 

 

DM

Divemaster

 

You are obviously well educated. Nice post.

Honestly, you are one of the mysteries of life for me - how could someone so educated have a right-wing political view?

It's a free country, and not all rightie ideas are bad - many very good.

I suppose it boils down to philosophy - consevatives draw from Hobbes - poeple are inherently bad and need strong laws, guns, jails, etc to restrain them

Versus the Lockian view - people are essentially good, and when allowed the means to survive, will be altruistic (nice) to one another (progressive side) and don't need aggressive restraints

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Divemaster

 

You are obviously well educated. Nice post.

Honestly, you are one of the mysteries of life for me - how could someone so educated have a right-wing political view?

It's a free country, and not all rightie ideas are bad - many very good.

I suppose it boils down to philosophy - consevatives draw from Hobbes - poeple are inherently bad and need strong laws, guns, jails, etc to restrain them

Versus the Lockian view - people are essentially good, and when allowed the means to survive, will be altruistic (nice) to one another (progressive side) and don't need aggressive restraints

Again Hame55 You Sterotype people because of their political views.  Maybe divemaster is just owns a business and is sick and tired of being looked down upon by those that want to redistribute his wealth.  Its not all black and white.  I own several businesses and I'm the bad guy in the eyes of many, both democrats and republicans but mostly by underachievers. We work our asses off. 60 hours a week is the norm for me and many self employeed do the same. We receive no more government services and more than likely less than many . Why then should we pay more. Does this make since to you? If I have nothing to gain I would lose my incentive and just shut it down taking my employees with me. I used to work as a union electrician and many had this same attitude complaining about how much the boss is making. Just lame in my opinion. The owner takes all the risk and deserves the fruits of his labor and these knuckleheads signed an agreement to make what they do. If the owner is not making good money why take the risk. Why even have employees. Most business owners got to where they are because they have a good work ethic. We reward those that have a good work ethic also. Those that think they are entitled to anything besides the right to pursue happiness have it wrong and are part of the problem.

 

BTW I don't give out negatives - I can't say that for others you stereotype and offend.

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i would have to disagree with at least what was posted since i was not privy to the conversation first hand. iraq does export oil. i am not sure why he does not label this an export when we read it all the time in the papers. this is an important point, critical even, as far as i am concerned. i do not believe iraq will be allowed to manipulate their currency the same way china is doing. i don't believe the western world will allow it. if iraq is allowed to export their oil while keeping the iqd at its current value, it would be down right unfair to the rest of the global market. this is the exact same game china has been playing and the world is screaming foul.

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Divemaster

 

You are obviously well educated. Nice post.

Honestly, you are one of the mysteries of life for me - how could someone so educated have a right-wing political view?

It's a free country, and not all rightie ideas are bad - many very good.

I suppose it boils down to philosophy - consevatives draw from Hobbes - poeple are inherently bad and need strong laws, guns, jails, etc to restrain them

Versus the Lockian view - people are essentially good, and when allowed the means to survive, will be altruistic (nice) to one another (progressive side) and don't need aggressive restraints

Perhaps we have had an epiphany.

To draw an effective hypothesis one must first accurately examine all relevant raw data, or risk a critical miscalculation rendering said presupposition inaccurate to the point of absurdity.

While humans may occasionally behave or think in a way classified or described according to some sort of philosophical rant, I take a scandalous satisfaction in shattering all possible stereotypes.

To claim "all conservatives draw from Hobbes" is as naive as claiming all progressives believe in unicorns, LSD, and naked Satan dances in the firelight.

If you are determined to dismiss anyone that does not share an identical perspective without due process, you will then condemn yourself to an eternity of egregious quandary.

I do not ascribe to Thomas Hobbes. It is a great injustice to blindly label another human, much less a group of humans, to such a limiting and derogatory classification.

To label anyone as "right wing/left wing" is  to me demonstrating an acute lack of understanding of humanity.

That is the problem of today. Everyone is supposed to discover their "label", and then hate or mistrust everyone that is not defined withing those parameters.

That, unfortunately, is the most arrogant, vile, immature, and unrealistic posture any human can possibly assume.

Drop the labels, stereotypes, assumptions, and conjecture.

I am not alone in my position.

I am just as perturbed with the abhorrent ramblings from the far right as I am with the insidious accusations from the left. 

Why must any human be either one or the other, especially when BOTH are wrong?

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Again Hame55 You Sterotype people because of their political views.  Maybe divemaster is just owns a business and is sick and tired of being looked down upon by those that want to redistribute his wealth.  Its not all black and white.  I own several businesses and I'm the bad guy in the eyes of many, both democrats and republicans but mostly by underachievers. We work our asses off. 60 hours a week is the norm for me and many self employeed do the same. We receive no more government services and more than likely less than many . Why then should we pay more. Does this make since to you? If I have nothing to gain I would lose my incentive and just shut it down taking my employees with me. I used to work as a union electrician and many had this same attitude complaining about how much the boss is making. Just lame in my opinion. The owner takes all the risk and deserves the fruits of his labor and these knuckleheads signed an agreement to make what they do. If the owner is not making good money why take the risk. Why even have employees. Most business owners got to where they are because they have a good work ethic. We reward those that have a good work ethic also. Those that think they are entitled to anything besides the right to pursue happiness have it wrong and are part of the problem.

 

BTW I don't give out negatives - I can't say that for others you stereotype and offend.

My post was not meant to offend. That's why I am truly interested in why someone who is educated would have political views that, FOR ME, run counter to rational thought. I am truly interested. That's why I mentioned philosophy - that's all.

 

It is statistically proven that conservatives, for the MOST PART, have less education than progressives. Combine that with media propaganda like Fox, and you have a mix for a conservative base. Yes, I know this is a generalization and there are many exceptions. What I am interested in is not media sound bites, but what drives the anger at others that many conservatives show - the business world is NOT a level playing field for all people based on merit, so all this "equal opportunity" BS that comes from the right, and everyone else is lazy - is simply a lie. I believe you know that.

Perhaps we have had an epiphany.

To draw an effective hypothesis one must first accurately examine all relevant raw data, or risk a critical miscalculation rendering said presupposition inaccurate to the point of absurdity.

While humans may occasionally behave or think in a way classified or described according to some sort of philosophical rant, I take a scandalous satisfaction in shattering all possible stereotypes.

To claim "all conservatives draw from Hobbes" is as naive as claiming all progressives believe in unicorns, LSD, and naked Satan dances in the firelight.

If you are determined to dismiss anyone that does not share an identical perspective without due process, you will then condemn yourself to an eternity of egregious quandary.

I do not ascribe to Thomas Hobbes. It is a great injustice to blindly label another human, much less a group of humans, to such a limiting and derogatory classification.

To label anyone as "right wing/left wing" is  to me demonstrating an acute lack of understanding of humanity.

That is the problem of today. Everyone is supposed to discover their "label", and then hate or mistrust everyone that is not defined withing those parameters.

That, unfortunately, is the most arrogant, vile, immature, and unrealistic posture any human can possibly assume.

Drop the labels, stereotypes, assumptions, and conjecture.

I am not alone in my position.

I am just as perturbed with the abhorrent ramblings from the far right as I am with the insidious accusations from the left. 

Why must any human be either one or the other, especially when BOTH are wrong?

I am merely generalizing in the abstract for the sake of covering some ground here - of course there are exceptions and I never said ALL this or ALL that...that is a rhetorical mistake. But to get somewhere in a debate, one must make SOME assumptions.

 

There would be no philosophy department at university if we "dropped all conjecture and assumptions" as you say.

As for the anger you direct at progressives, where does it come from?

 

Ever notice how progressives often have bumper stickers all over their cars saying, "save the farm" "save the whales.."

"a good education is more important than a new bomber..." Remember?

 

Ever notice the stickers on conservatives' cars? Usually there is only one or two - vote Romney, or "Palin for Pres." - and that's IT. No other stickers, Ever wonder about that? Voting with the wallet, I call it. Altruistic,it's not.

i would have to disagree with at least what was posted since i was not privy to the conversation first hand. iraq does export oil. i am not sure why he does not label this an export when we read it all the time in the papers. this is an important point, critical even, as far as i am concerned. i do not believe iraq will be allowed to manipulate their currency the same way china is doing. i don't believe the western world will allow it. if iraq is allowed to export their oil while keeping the iqd at its current value, it would be down right unfair to the rest of the global market. this is the exact same game china has been playing and the world is screaming foul.

Good point, but China doesn't have dual currencies. Perhaps Iraq can keep forging ahead using the dollar, and receiving dollars for oil, for many years. Perhaps indefinitely (I hope not...). They are making money millions exchanging dollars and dinar and I am beginning to think this may be part of the hold up. Any thoughts on that?

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Went to help the wife pick up a bed that was on Craig's list here in SW FL.  The gentleman's wife had pass on and was moving up to Longboat Key.   He mentioned he had been married twice and both wives had passed and that he had worked for the IMF for 20yrs and the World Bank for 10 before retiring and now working part time as a consultant for different companies.  I asked if the IMF and/or World Bank dictates or governs a countries currency rate  (I asked this since soooo many well informed people on numerous sites have people in high places in numerous 3 letter organizations and have inside scoop).  He stated the IMF only give loans to countries and the only organization that has control over a counties currency, increase or decrease in value, is the Central Bank of that country.  No one else.  He went on to give an example, China, that their currency is way under valued.  This is due to all the exports and very little imports.  This is where they get their money and they can and do, keep the value low.  I brought up Iraq and Iran.  Too much unrest, corrupt politicians, and uncertainty in the region.  The more a country holds US $'s the more their currency will be worth, the less they have the less it's worth.  He stated that Iraq does not need to increase the value of their currency due to all the oil they have.  They don't need to increase the value of their money, they get their money from the oil. Not exports.  He also stated if the Iraqis done away with the Prime Minister that the value would go down drastically due the civil war it would create in country. He stated it would be a very, very high risk venture with Iraqi currency.  I then stated I was invested in the dinar.  He then said he probably shouldn't have said what he did. I told him I appreciated the information and I have not lost money so far and could sell it and make a small profit.  He then stopped discussing currency and the wife and I left.  The information he stated above was before I asked about the dinar.  I sure hope it is not true but makes one wonder.  I have been in this since Oct 2007 and thought it was coming to an end but he sure has me a little concerned. 

 

HMMMM, Lemme see if I got this story straight...

 

20 years @ IMF and another 10 @ World Bank?

This is 3rd Wife that Died on him?

Now he's moving out of town to make new friends at his age?

 

Makes one wonder what those 3 wives may have found out about now, doesn't it?

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Went to help the wife pick up a bed that was on Craig's list here in SW FL.  The gentleman's wife had pass on and was moving up to Longboat Key.   He mentioned he had been married twice and both wives had passed and that he had worked for the IMF for 20yrs and the World Bank for 10 before retiring and now working part time as a consultant for different companies.  I asked if the IMF and/or World Bank dictates or governs a countries currency rate  (I asked this since soooo many well informed people on numerous sites have people in high places in numerous 3 letter organizations and have inside scoop).  He stated the IMF only give loans to countries and the only organization that has control over a counties currency, increase or decrease in value, is the Central Bank of that country.  No one else.  He went on to give an example, China, that their currency is way under valued.  This is due to all the exports and very little imports.  This is where they get their money and they can and do, keep the value low.  I brought up Iraq and Iran.  Too much unrest, corrupt politicians, and uncertainty in the region.  The more a country holds US $'s the more their currency will be worth, the less they have the less it's worth.  He stated that Iraq does not need to increase the value of their currency due to all the oil they have.  They don't need to increase the value of their money, they get their money from the oil. Not exports.  He also stated if the Iraqis done away with the Prime Minister that the value would go down drastically due the civil war it would create in country. He stated it would be a very, very high risk venture with Iraqi currency.  I then stated I was invested in the dinar.  He then said he probably shouldn't have said what he did. I told him I appreciated the information and I have not lost money so far and could sell it and make a small profit.  He then stopped discussing currency and the wife and I left.  The information he stated above was before I asked about the dinar.  I sure hope it is not true but makes one wonder.  I have been in this since Oct 2007 and thought it was coming to an end but he sure has me a little concerned. 

I have to say, that person was not in the know. The IMF, The Federal Reserve, The Vatican Bank, The Bank of England and the World Bank set world currency rates. (period!) It's a rigged system people. Wake up to what is happening in the financial world (mystery babylon).

WM13

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i would have to disagree with at least what was posted since i was not privy to the conversation first hand. iraq does export oil. i am not sure why he does not label this an export when we read it all the time in the papers. this is an important point, critical even, as far as i am concerned. i do not believe iraq will be allowed to manipulate their currency the same way china is doing. i don't believe the western world will allow it. if iraq is allowed to export their oil while keeping the iqd at its current value, it would be down right unfair to the rest of the global market. this is the exact same game china has been playing and the world is screaming foul.

 

The difference between China and Iraq are night and day, especially with their money and debt (or lack of).

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The more a country holds US $'s the more their currency will be worth, the less they have the less it's worth. 

Read more: http://dinarvets.com/forums/index.php?/topic/159869-conversation-today-with-former-imfworld-bank-employee/#ixzz2dz5wpPuy

No one brought this out yet of what was said.  If you look at the auctions Iraq has plenty of US $

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