Economic representative Announces deferral of removal of zeros to the next parliamentary session

[fib1618]

Fib/Mr Rich/......and whomever else you are or have been,

If you're truly about helping others why not go to the other sites you mention and educate. Here at DV the majority know the pros & cons and accept them. You keep talking about other sites and their lies, well do something if it bothers you so, attack the liars there where someone will hear you, they don't/can't hear you here. But as you and I know it's about attention/ego and you won't get either stroked at the other sites. I heard thru the grapevine DBB has made you a honorary DB..................LOL who didn't know that. I applaud you on your self righteousness.....................GO RD/MIN GAIN!!!!!!!!

The majority here believe that a Iraq can rv their 80 trillion dinar to .10 to $3+

A penny is impossible.

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

You don't have to come down here and read my crap if it bothers you so much. You should probably just stay up there in fantasy land.

Edited December 11, 2013 by fib1618

[dinarbeleiver]

The majority here believe that a Iraq can rv their 80 trillion dinar to .10 to $3+

That's absolutely Impossible.

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

You don't have to come down here and read my crap if it bothers you so much. You should probably just stay up there in fantasy land.

Just stop already. This guy is making you look really silly.

i just gave you an economics lesson in how currencies work. I can post the full details of how currencies work from a good established economics site if you want fib

[fib1618]

i just gave you an economics lesson in how currencies work. I can post the full details of how currencies work from a good established economics site if you want fib

I don't think you could give lessons on how to shoot a water gun.

You gave me nothing but a good laugh.

[dinarbeleiver]

I don't think you could give lessons on how to shoot a water gun.

You gave me nothing but a good laugh.

fib I am gonna teach you good it might take me a little while because I don't have much time to myself but I will whoop you

[fib1618]

fib I am gonna teach you good it might take me a little while because I don't have much time to myself but I will whoop you

You got nothing.

Dude you totally laid an egg over at that other site.

Aren't you just a little embarrassed?

[Jack5657]

dinarbeliever - "That statement I made about the M2 was before I research and found out a hell of a lot of other countries have a far bigger M2 than Iraq currently has"

 

And yet you still can't figure out it's Money supply AND FX reserves that determines a peg not just the former. What you're doing is the equivalent of:-

 

Q: How much is the price of wheat in USD?

 

A: 100 tons.

 

You're not even using the same units for valuing currencies... All you've done is the equivalent of walk into a bakers, pick up 1,000 loaves of bread priced at $1.50 and demand you be allowed to pay just $1.50 for all 1,000 "because supply is irrelevant and all that matters is that it's all just bread." It's childishly dumb beyond belief.

 

dinarbeliever - "Also about currencies as well Iraq currently has a pegged currency that does not react much to market forces."

 

LOL. That's what everyone else has been explaining *to you* and now you're trying to "educate" others on it after asking questions just 48hrs ago on the other forum like:-

 

"I want some information first on what the M2 , M1 and M0 mean. Educate me please on what these mean and stand for." - dinarbeliever

 

Two days ago you didn't even know they meant! As for "waiting for a market value", the market / street value of the Dinar is down to 1230:1 (as anyone inside Iraq will tell you). Someone even gave you a link to verify it yourself over on the other forum.

 

You also claimed to be a "genius mathematician" yet you managed to get all your M2 figures wrong by a factor of 1,000. Eg:-

 

Dinarbeliever - "Czech Republic current M2 3195472.50 billion exchange rate"

 

The Czech's M2 is 3,195,472 MILLION not BILLION as the "trading economics" link you've been using clearly states ("CZK MN"). Which works out to just $159bn at 19.9:1 rate. That's 1,729x smaller than the delusional $275,000bn money supply you were wailing about. Dude the entire global economy is 4x smaller than that...

 

Dinarbeliever - "Canada has an m2 of 1225287.00 billion"

 

Same again your link says "CAD MILLION", not billion...

 

LOL. With "maths skills" & reading comprehension like that, you should take up art instead as so far you've managed to get everything as wrong as you possibly could on not one but two different forums... 

[caz1104]

Fib,

 

Your right I don't HAVE to come down here to read your never ending same song & dance routine. I hope at some point you'll offer something new and provocative. You and your dreaded alter egos the "gurus" are consistant, you say tomato and they say tomAto, they say it's sunny you say its dark & cloudy, they say it's sweet you say it's sour. At times your very entertaining, key words "at times". I would say I hope your having a nice holiday season but I know that would upset you............................................GO RD with NO/MIN GAIN!!!!!!!!!!!!!   

[fib1618]

Fib,

Your right I don't HAVE to come down here to read your never ending same song & dance routine. I hope at some point you'll offer something new and provocative. You and your dreaded alter egos the "gurus" are consistant, you say tomato and they say tomAto, they say it's sunny you say its dark & cloudy, they say it's sweet you say it's sour. At times your very entertaining, key words "at times". I would say I hope your having a nice holiday season but I know that would upset you............................................GO RD with NO/MIN GAIN!!!!!!!!!!!!!

Just trying to keep things real.

Happy holidays to u.

[Markinsa]

The majority here believe that a Iraq can rv their 80 trillion dinar to .10 to $3+

A penny is impossible.

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

You don't have to come down here and read my crap if it bothers you so much. You should probably just stay up there in fantasy land.

Just stop already. This guy is making you look really silly.

 

 

Why do you keep bringing up M2?  The only thing that will matter for the RV is the currency In circulation (M1), everything else is electronic.

 

-

[boomer113189]

That's for you to do, you're the one that says deleting the zeros means lop.  Bring us a definitive article from the IMF, World Bank, the FED etc, that deleting the zero's means LOP and I'll agree with you.  But you won't find that, because there isn't one.  We are all here speculating on that meaning, you think it means one thing, we think it means something else. So you sit here saying over and over and over again, that it means LOP ain't going to make it so.

 

 

-

the International Monetary Fund is in support of the Iraqi economy in the event of having a number of economic measures, including privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.

The news has recently indicated that the Iraqi government plans to make changes to the local currency, including raising three zeros in order to reduce inflation suffered by the Iraqi market, as well as add the language Kurdish paper currency.

The local Iraqi currency has gone through several changes in its history, most recently in 2004 when the former Governing Council replaced the previous currency, which was a symbol of the former regime

Edited December 12, 2013 by boomer113189

[fib1618]

Why do you keep bringing up M2? The only thing that will matter for the RV is the currency In circulation (M1), everything else is electronic.

-

You're incorrect when you say the currency in circulation is the M1....yes, it is part of the M1, but there is more to it.

Let me lay this out...

M0= physical cash outside banks.. That stands at about 35 trillion

M1= the M0 plus on demand deposits(checking and savings)..... Anything that freely exchanges to and from cash with no restrictions. That stands at about 70 trillion

M2= the M1 plus non on demand deposits... More complex instruments, CD's, etc....that have penalties for early withdrawal. This stands at about 83 trillion

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

The reason I'm always bringing up the M2 is because if the CBI decided to RV... They are liable for not only the physical dinar... But the debts and accounts too. Everything is converted at the same rate as the physical... Bank accounts, investments, etc... The CBI is liable for it all.

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

Even if they were "only" liable for their staggering amount of CURRENCY OUTSIDE BANKS .....35 Trillion... They still don't have the foreign currency reserves to back that on a rv to a even a penny.

[boomer113189]

You have yet to prove that deleting zeros means lop.  If there is even the slightest possibility that deleting the Zeros means Revalue, as everyone outside the tank seems to think, then you can't use that as an absolute. Come back when you really know what you are talking about.

 

-

What Is a Currency Lop?

A currency lop refers to the removal of the last three zeros off a certain currency.

 

http://goo.gl/b9Lb5s