feb. update

[dinarbeleiver]

Your really good at copying and pasting links but you fail to even read them or understand them firsr before making ignorant comments

thats good coming from you when you take the piss out of down syndrome and learning difficulties ignorant twit shame on you keepem

[fib1618]

thats good coming from you when you take the piss out of down syndrome and learning difficulties ignorant twit shame on you keepem

[FS4Enthusiast]

Your really good at copying and pasting links but you fail to even read them or understand them firsr before making ignorant comments

 

I highly suspect that you are a couldron person.

[dinarbeleiver]

Fibby have you googled tnt tony and bbc

I highly suspect that you are a couldron person.

he is a paid couldron person

[dontlop]

That's not true, at all.

Lol you take a half of one sentence and make remarks like this about it

The Kurds Swiss dinar were given a cbi official exchange rate increase from zero to 150 dinars for one Swiss

They had no choice either exchange their Swiss dinar for new dinar or just keep using demonetized currency that no one backed or endorsed but the Kurds

And what little they had left that wasn't all torn up and worn out wouldn't last them

Very much longer it was all worn out

So the CPA raised its official exchange rate to 150 times the Iraqi dinar

I'll just keep saying it over and over to ya

They raised the rate from zero to 150 dinars

That were worth .0006 dollars each

So that's where you must of got drunk and didn't finish your research or something

Fib will tell ya what a rv is or I can repost it for ya hold on I'll get it

fib1618, on 11 Feb 2014 - 9:01 PM, said:

U need to do a little homework my friend...An rv is a calculated adjustment to a COUNTRY'S official exchange rate relative to a chosen baseline.

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-10#ixzz2t8peifTC

See when the country does it

Not a village of uneducated people using demonetized currency backed by absolutely nothing

If its a hundred thousand percent to rv our dinar to a dollar from .0086

How many percent is it to rv from zero to 6 cents

Its hard to do from zero it would be infinate

So let's just figure a number that's very small somewhere in the quadrillions of like

.000000000000000000000000000000000000000000001

Now you do the math and figure out what percentage it would be to rv thee above number to 6 cents

And when your done figuring that out

Just remember zero is more percentage points than that

Oh and I can add a few more zeros if you'd like

I guess if some idiot comes up to you with some old funny money and said this is worth 10 times your dollar you would just believe it

You wouldn't ask

Hmm

What is backing that currency up that makes it worth so much

Well I did that with the Swiss dinar

And do you know what

Nothing at all was backing it

It was a complete scam to rv those to 150 to one

I'm hoping for another scam with these dinars

Not some proper banking practices

I want to see my bank account grow with the dinar scam

I think they will do it right in the beginning of an invasion on Iran

Everyone will be watching the war news and this will pass right by the lopsters

I know everything more than you do

[dontlop]

Come on you lopsters got great math skills

Do the math !!!!

[FS4Enthusiast]

Fibby have you googled tnt tony and bbc

he is a paid couldron person

 

I've got a friend that is quite high up in the couldron organization that says YOU are a paid couldron person.

Come on you lopsters got great math skills

Do the math !!!!

 

At no time did Bremer GIVE or CHANGE the official exchange rate of the Swiss dinar OR the Saddam dinar with respect to the USD. He ONLY specified a CONVERSION between the Swiss dinar, the Saddam dinar, and the new IQD, as part of the REDENOMINATION

 

Replacing a fiat currency with a pegged currency isn't an RV, it's an RD, especially when it results in zero purchasing power increase.

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-10#ixzz2t8yOxoyVRe

It was a complete scam to rv those to 150 to one

I'm hoping for another scam with these dinars

 

 

Only because you don't know any better.  There were probably 5 billion Swiss dinar in the wild at the most when Bremer REDENOMINATED their currency.  6 cents per probably cost them 300 million at most.  A drop in the bucket.  6 cents per right now would cost them trillions.

 

So continue to hope in one hand, and poop in the other, while the rest of us laugh.

[dinarbeleiver]

FS4 you got me lol

[FS4Enthusiast]

I like how all of DinarThugs post end in an exclamation point.  Could be good news, could be bad news, could be completely irrelevent, but whatever it is, it's exciting, because it has an exclamation point!

[dontlop]

I've got a friend that is quite high up in the couldron organization that says YOU are a paid couldron person. At no time did Bremer GIVE or CHANGE the official exchange rate of the Swiss dinar OR the Saddam dinar with respect to the USD. He ONLY specified a CONVERSION between the Swiss dinar, the Saddam dinar, and the new IQD, as part of the REDENOMINATION Replacing a fiat currency with a pegged currency isn't an RV, it's an RD, especially when it results in zero purchasing power increase.Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-10#ixzz2t8yOxoyVRe Only because you don't know any better.  There were probably 5 billion Swiss dinar in the wild at the most when Bremer REDENOMINATED their currency.  6 cents per probably cost them 300 million at most.  A drop in the bucket.  6 cents per right now would cost them trillions. So continue to hope in one hand, and poop in the other, while the rest of us laugh.

Are you trying to say that rvs are only rvs if they have something to do with a dollar?

Who cares that you can't use your math skills to figure out what each dinar is worth

The cbi rvd the Swiss dinar official exchange rare to 150 times the Iraqi dinar

Do you did agree that the Swiss dinar was revalued to 150 times the Iraqi dinar from zero ?

You think they didn't gain any purchasing power

They had no purchasing power anywhere but In a backwards province in northern Iraq

Any goods the Kurds bought anywhere outside their province they used dollars not Swiss dinar

[FS4Enthusiast]

Are you trying to say that rvs are only rvs if they have something to do with a dollar?

 

You need to learn the definition of an RV, because it's obvious you don't know it. 

You think they didn't gain any purchasing power

 

I know they didn't gain any purchasing power.  It's right in the Bremer paper that you post frequently but either didn't read or don't understand.

They had no purchasing power anywhere but In a backwards province in northern Iraq

Any goods the Kurds bought anywhere outside their province they used dollars not Swiss dinar

 

Lol, if you think it's Kurdistan that's backwards you obviously know nothing about Iraq.

[dontlop]

Kurdistan only became what they became after saddam was tossed out

Why don't you show us the purchasing power of the Swiss dinar at the central bank of Iraq before bremmer rvd it

It was zero

If you can prove that wrong be my guest

Surely you can point that out to us where it's right in the link that there was no rv for the Swiss dinar

The top of the link explains the definition of legal tender

It explains the official rate

Then it gives the official exchange rate of the Swiss dinar 150 to one Iraqi dinar

Can you show us where the link shows it didn't change the official exchange rate

You should be able to show us all the official exchange rate prior to the exchange since it didn't change

The purchasing power in a single province does not count

What counts is the purchasing power in the country of Iraq

The Kurds have no authority to issue currency anywhere Only the cbi has that authority to issue currency and set official exchange rates

Show us the purchasing power of the Swiss dinar in bagdad in 2002

Then look at the Kurds purchasing power now

In bagdad

Oh ya they gained nothing

They didn't gain any reserves to back their exchange and their new national purchasing power

Poor dinark he's so busy with his new found intel that he can't look away

For you ethustic

The baseline is the dollar for the dinar

fib1618, on 11 Feb 2014 - 9:01 PM, said:

U need to do a little homework my friend...An rv is a calculated adjustment to a COUNTRY'S official exchange rate relative to a chosen baseline.

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-11#ixzz2t9Jzpdr7

[FS4Enthusiast]

What counts is the purchasing power in the country of Iraq

 

You're delusional.  You think what is and isn't an RV is solely up to you to.  What a Swiss dinar bought in Baghdad is meaningless, the Kurds had their own banks and would just exchange for dollars if they needed to, just like if a Baghdad resident went to Kurdistan they wouldn't accept his garbage Saddam dinars.

 

Why don't you email any economics professor in the country and explain your theories to them and see what they say.  I know what they're going to tell you.

 

At no time did Bremer GIVE or CHANGE the official exchange rate of the Swiss dinar OR the Saddam dinar with respect to the USD. He ONLY specified a CONVERSION between the Swiss dinar, the Saddam dinar, and the new IQD, as part of the REDENOMINATION Replacing a fiat currency with a pegged currency isn't an RV, it's an RD, especially when it results in zero purchasing power increase.

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-11#ixzz2t9O7uwkQ

[dontlop]

His garbage dinars were the only legitimate currency offered by Iraq

The Swiss were backed by nothing or anyone

No one excepted them anywhere it wasn't legal tender

Swiss dinar - http://www.personal..../ElyLecture.pdf

For ten years, therefore, Iraq had two currencies: one issued by the official

government and the other backed by no government at all. The Swiss dinar continued

to circulate in the North, even though backed by no formal government, central bank,

nor any law of legal tender. For a fiat currency this was an unusual situation.

Whatever gave the Swiss dinar its value was not the promise of the official Iraqi

government, or indeed any other government.

Although there was little or no trade between North and South Iraq, both the Swiss

and Saddam dinars were traded against the dollar. The implied Swiss to Saddam

dinar cross-exchange rate from 1997 onwards is shown in Chart 3

After 1993 the Swiss dinar deviated from parity and rose to around 300 Saddam

dinars to the Swiss dinar by the time Saddam’s regime was deposed in 2003. The

appreciation of the Swiss dinar is clearly a consequence of the evolution of the actual

and expected money supplies in the two territories.

Given the monetary and fiscal policies pursued by the Saddam regime, the rise of the

Swiss dinar against the Saddam dinar is, perhaps, understandable. But what is less

obvious is the path of the Swiss dinar against the US dollar. Chart 4 shows the Swiss

dinar-dollar exchange rate from 1997 onwards.

After fluctuating in the early 1990s, the Swiss dinar rose sharply against the US dollar

from the middle of 2002 as the prospect of an end to the Saddam regime increased. It

rose from around 18 to the dollar in May 2002 to about 6 to the dollar by the

beginning of May 2003 when the war ended. That appreciation reflected expectations

about (i) the durability of the political and military separation of Kurdish from

Saddam-controlled Iraq and (ii) the likelihood that a new institution would be

established governing monetary policy in Iraq as a whole that would retrospectively

back the value of the Swiss dinar. The political complexion of Northern Iraq led to

the assumption that the currency used there would have value once regime change had

occurred.

In other words, the value of the Swiss dinar had everything to do with politics and

nothing to do with the economic policies of the government issuing the Swiss dinar

because no such government existed. As someone might have said, “it’s the political

economy, stupid!”

Another illustration of this is shown in Chart 5 which plots the Swiss dinar/dollar

exchange rate against the values of futures contracts showing how expectations about

the political order in Iraq were evolving.

One futures contract paid out 100 cents if Saddam was deposed by the end of June

2003 and nothing otherwise. As the chance of Saddam's regime being deposed (and

the price of the future) rose, the Swiss dinar appreciated against the dollar. Later there

was also a future that paid 100 cents if Saddam was captured by the end of December

2003, and nothing otherwise. As the chance of this happening (and the price of the

future) fell last autumn, the Swiss dinar fell against the dollar. It has just risen again.

Again, expectations about the future political order in Iraq, which have repercussions

for the likely monetary regime in northern Iraq, influence the value of the Swiss dinar

today.

Much of this was understood by Kurds in the North where the exchange rate of the

Swiss dinar to the dollar was a matter of both concern and interest. The minutes of a

meeting of the Kurdish Regional Government on 14 October 2002 state: “KRG Prime

Minister Nechirvan Barzani chaired a meeting to discuss the ongoing problem of the

weak US dollar in the local currency markets. Discussion focussed on the …

unprecedented 45% decrease in the value of the US dollar against the Iraqi Swiss

dinar, possible causes of the problem, and effects on the market”. Realising that the

effect of a change in the exchange rate cannot be understood without an analysis of

the causes of the change, the minutes continue, in a manner that would do justice to

the minutes of any G7 central bank, “It was pointed out that the US dollar is currently

stable in foreign markets so there must be other explanations for the sharp slide in

value in Iraqi Kurdistan”.14 In other words, an explanation was needed for a rise in

the real value of the Swiss dinar.

Of course, as we now know, the expectation that a future institution guaranteeing the

integrity of the Kurdish area, and of the value of their currency, turned out to be

correct. Coalition forces assumed control of the whole territory, and on 7 July 2003

the head of the Coalition Provisional Authority, Paul Bremer, announced that a new

Iraqi dinar would be printed and exchanged for the two existing currencies at a rate

that implied that one Swiss dinar was worth 150 Saddam dinars. The exchange was to

take place over the period 15 October to 15 January. It is now virtually complete.

The new dinars, like the Swiss, were printed by De la Rue in a very short space of

time using plants in Britain and several other countries, and were flown into Iraq on

22 flights using Boeing 747 and other aeroplanes. The fact that the populations of

both North and South Iraq have been prepared to exchange their old notes for new

dinars reflects the confidence which they have in the future of the institutions backing

the new Iraqi dinar.

The 150 parity is barely half the rate the Swiss dinar reached at its peak

But it is above the average rate that prevailed over the past six years, and above the

rate that would equalise the purchasing power of the two currencies. For example,

around the time when the new conversion rate was being determined, it was estimated

that 128 Saddam dinars to the Swiss would equalise the wages of an engineer in the

two parts of Iraq, 100 would equate the price of the shoes he wore to work, and 133

the price of his suit.15

From Chart 6, it is clear that the exchange rate hovered above 150 after the parity was

announced on 7 July. There are two reasons for this. First, the 10,000 Saddam dinar

note was heavily counterfeited, easy to do given the primitive local technology used

to print them. The exchange rate of this note against the dollar is consistently less

than the 250 dinar note which, as a smaller denomination note, was less heavily

counterfeited. The Swiss notes, printed using more sophisticated technology, are

virtually free of counterfeits. The Swiss notes traded at above the parity because of

the risk that holders of the 10,000 note would find that they had a forgery and could

not exchange it at the central bank. Second, before the capture of Saddam Hussein

there was inevitably some uncertainty about the prospects of the new regime and the

new currency that it issued.

The circulation of Swiss dinars in Kurdish controlled Iraq during the 1990s was a

market solution to the problem of devising a medium of exchange in the absence of a

government with the power to issue currency. Changes in the relative price of Swiss

and Saddam dinars show that the value of money depends on beliefs about the

probability of survival of the institutions that define the state itself.

Edited by Smokeyblizzard, Yesterday, 08:32 PM.

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-9#ixzz2t9U84h8G

Hm

[fib1618]

Dontlop = broken record

[FS4Enthusiast]

So it was effectively a fiat currency, BFD.  They redenominated a fiat currency into a pegged currency.  BFD.  Not an RV.  No purchasing power increase.

[dontlop]

It wasn't legal tender it wasn't currency it was demonetized by the cbi

Only the cbi has authority to issue currency

Not the Kurds

The CPA ordered it officially exchangable by force

There was nothing backing it

Unless you think they don't have to back their currency anymore since its Iraq or something

All currency is fiat

So it was effectively a fiat currency, BFD.  They redenominated a fiat currency into a pegged currency.  BFD.  Not an RV.  No purchasing power increase.

all currency is fiat

[FS4Enthusiast]

Iraq and semi-autonomous Kurdistan had two different currencies in use.  The CPA issued a new currency for them both to use.  Old notes from both regions were exchanged for a completely new currency at rates that were fair and equitable based on actual purchasing power and market value, which resulted in no purchasing power increase for either currency.

 

And you call it a trillion percent RV.  Hysterical.

[dontlop]

What do you think there is a gold standard

Or do you think the Swiss dinar was floating on the international exchange ?

The Swiss Dina was illegal

For ten years, therefore, Iraq had two currencies: one issued by the official

government and the other backed by no government at all. The Swiss dinar continued

to circulate in the North, even though backed by no formal government, central bank,

nor any law of legal tender. For a fiat currency this was an unusual situation.

Whatever gave the Swiss dinar its value was not the promise of the official Iraqi

government, or indeed any other government

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-11#ixzz2t9bLC5Rv

[FS4Enthusiast]

Which one of these facts is incorrect, dontlop:

 

Iraq and semi-autonomous Kurdistan had two different currencies in use. The CPA issued a new currency for them both to use. Old notes from both regions were exchanged for a completely new currency at rates that were fair and equitable based on actual purchasing power and market value, which resulted in no purchasing power increase for either currency.

 

And you call it a trillion percent RV. Hysterical.

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-11#ixzz2t9bMSNf3

[dontlop]

So I guess you still can't post any official exchange rates for the Swiss dinar before the new official exchange rate in October 2003

[FS4Enthusiast]

Which one of these facts is incorrect, dontlop:

 

Iraq and semi-autonomous Kurdistan had two different currencies in use. The CPA issued a new currency for them both to use. Old notes from both regions were exchanged for a completely new currency at rates that were fair and equitable based on actual purchasing power and market value, which resulted in no purchasing power increase for either currency.

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-11#ixzz2t9d7o7B6

[dontlop]

The official exchange rate is all that counts fib explained it to us when he explained why the Kuwait dinar did not revalue even though it's purchasing power skyrocketed over night 70 times higher than the day before from 5 cents purchasing power to $3.45 purchasing power over night

Fib says purchasing power doesn't matter he says only the official exchange rate determins a rv

So show us the official exchange rate for october13th 2003

Show us that the official exchange rate was 150 times higher for the Swiss dinar than te Iraqi dinar

[FS4Enthusiast]

So I guess you still can't post any official exchange rates for the Swiss dinar before the new official exchange rate in October 2003

 

The official exchange rate in 2003 was between the Swiss dinar and the IQD.  That is a redenomination.

The official exchange rate is all that counts fib explained it to us when he explained why the Kuwait dinar did not revalue even though it's purchasing power skyrocketed over night 70 times higher than the day before from 5 cents purchasing power to $3.45 purchasing power over night

Fib says purchasing power doesn't matter he says only the official exchange rate determins a rv

So show us the official exchange rate for october13th 2003

Show us that the official exchange rate was 150 times higher for the Swiss dinar than te Iraqi dinar

 

Which one of these facts is incorrect, dontlop:

 

Iraq and semi-autonomous Kurdistan had two different currencies in use. The CPA issued a new currency for them both to use. Old notes from both regions were exchanged for a completely new currency at rates that were fair and equitable based on actual purchasing power and market value, which resulted in no purchasing power increase for either currency.

Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-12#ixzz2t9dbAMXh

[dontlop]

Oh that's right you can't because it had zero for an official exchange rate

I couldn't care less for the reason why bremmer decided to raise the official exchange rate the fact remains he did it

You even admit he did your reason being bremmer felt it would be fair because of the market rate

So the official rate did change we both agree I see

The official exchange rate in 2003 was between the Swiss dinar and the IQD.  That is a redenomination. Which one of these facts is incorrect, dontlop: Iraq and semi-autonomous Kurdistan had two different currencies in use. The CPA issued a new currency for them both to use. Old notes from both regions were exchanged for a completely new currency at rates that were fair and equitable based on actual purchasing power and market value, which resulted in no purchasing power increase for either currency.Read more: http://dinarvets.com/forums/index.php?/topic/172155-feb-update/page-12#ixzz2t9dbAMXh

The Swiss was not a Iraqi dinar

It wasn't legal tender

It was a piece of demonetized paper

So don't say it was a dinar