Exchanging your dinar

[keepmwlknfny]

Here to support princess keepmwlknfny as he was getting his a$$ kicked

Lol please....by whom? Mother goose and his made up revaluations? Yea didn't think so......

[ewingm]

Dinarbeliever, do you seriously believe that iraq can revalue with 80 trillion dinars out there?  Its a mathematical impossiblity.  They must carry the reserves in CBI to cover the redemption demand in dollars if they revalued.  It ain't anywhere close.  They need to stop printing and selling their currency to speculators such as yourself. In the end, the only option they will have is a redenomination.   

[quadkidd1]

Why oh why oh why haven't they shut this ridiculous thread down by now??????????????????

[aitshioud]

Dinarbeliever, do you seriously believe that iraq can revalue with 80 trillion dinars out there? Its a mathematical impossiblity. They must carry the reserves in CBI to cover the redemption demand in dollars if they revalued. It ain't anywhere close. They need to stop printing and selling their currency to speculators such as yourself. In the end, the only option they will have is a redenomination.

Still haven't responded to the article I posted or the questions. Do you know the difference between m0 and m4

What u chose to reply to and how, reveals your intentions.

You claim the CBI isn't that stupid but think they're going to lop or close boarder exchange and destroy they're progress.

Contradictory at all?

How come none of you lopsters will not respond to the article I posted hmm?

Don't you think it's possible that they could just have a maximum amount per month your allowed to cash in until they bring enough currency back to justify the higher rate?

This bridge is going to collapse with this infestation.

Edited April 8, 2014 by aitshioud

[keepmwlknfny]

Still haven't responded to the article I posted or the questions. Do you know the difference between m0 and m4

What u chose to reply to and how, reveals your intentions.

You claim the CBI isn't that stupid but think they're going to lop or close boarder exchange and destroy they're progress.

Contradictory at all?

How come none of you lopsters will not respond to the article I posted hmm?

Don't you think it's possible that they could just have a maximum amount per month your allowed to cash in until they bring enough currency back to justify the higher rate?

This bridge is going to collapse with this infestation.

Lol a closed border exchange kill all economic growth of a country? Yea ok...su

re

[RVPleaseToday]

dontlop says, "The oil revenues need to be placed into the reserves as the oil is produced but until it's produced."

 

dontlop, Iraq is spending every penny each year they get from selling oil to keep the government running, and they are still running deficits. The oil money is NOT going into the reserves, it is going to running the country. I don't know why you can't understand that.

[RVPleaseToday]

It's not one sentence that is wrong, dontlop. You are all over the place with weird theories and speculation. If there is some kind of coherence in the stuff you post, I've yet to find it.

 

You insist that the oil is their ultimate reserve when the reality is that they can't pump it out of the ground fast enough to cover even their basic expenses to run the government. A fact which undermines your theory, thus one you find inconvenient.

[aitshioud]

I'd like to see u back that up with proof please rvpleasetoday

[dontlop]

It's not one sentence that is wrong, dontlop. You are all over the place with weird theories and speculation. If there is some kind of coherence in the stuff you post, I've yet to find it.

 

You insist that the oil is their ultimate reserve when the reality is that they can't pump it out of the ground fast enough to cover even their basic expenses to run the government. A fact which undermines your theory, thus one you find inconvenient.

What govt expenses the dinar covers most of it

The dinar doesn't have to be backed up after it's backed one time

They are just infusing dollars into the economy with the auctions

Then the dollars will be collected eventually

I don't give a hoot about what Iraq used to do for the last hundred years

Things have changed

It's too bad you can't recognize it RVPleaseToday

The govt just bought 40 airliner jets

But they can't fund basic needs

Lol

They added rail systems

They are building a huge new port

They are doing massive expansions in the oil fields including the new pipeline thru Jordan

But according to RVPleaseToday they can't pay for basic needs

Ah ha ha ha ha

They are adding billions in new housing and govt facilities

Building stadiums roads bridges irrigation canals water purification plants power plants adding a navy to their arsonal

You are way behind in present day Iraq

I know you just say things so I will fill you in so there

You got a couple things to ponder since your to lazy to read yourself and keep up with the times

[keepmwlknfny]

What govt expenses the dinar covers most of it

The dinar doesn't have to be backed up after it's backed one time

They are just infusing dollars into the economy with the auctions

Then the dollars will be collected eventually

I don't give a hoot about what Iraq used to do for the last hundred years

Things have changed

It's too bad you can't recognize it RVPleaseToday

The govt just bought 40 airliner jets

But they can't fund basic needs

Lol

They added rail systems

They are building a huge new port

They are doing massive expansions in the oil fields including the new pipeline thru Jordan

But according to RVPleaseToday they can't pay for basic needs

Ah ha ha ha ha

They are adding billions in new housing and govt facilities

Building stadiums roads bridges irrigation canals water purification plants power plants adding a navy to their arsonal

You are way behind in present day Iraq

I know you just say things so I will fill you in so there

You got a couple things to ponder since your to lazy to read yourself and keep up with the times

Yea they borrowed that money to buy those jets. You just so conveniently left that out. They are not wealthy....If they were pumping enough oil out of the ground they wouldn't need to borrow that now would they? Oh but they have plenty of money right?

I'd like to see u back that up with proof please rvpleasetoday

Stop being lazy and do your own legwork. All you have done is made statements to which you can't even explain which indicates you don't even know what you were saying in the first place.

[ewingm]

The point you are missing, gentlemen, is that Iraq is unique in history.  There has not been a situation quite like this where a sovereign country had its economy destroyed by war, its currency first artificially inflatednto $3 by Saddam, and then destroyed, ending in a depreciated condition of 1170 to oneUSD.  It looks ripe for an RV, no question about it.  Back in 2003-2005, if they had RVed, people would have made alot of money. BUT that is no longer the case.  Over the last 9 years, millions of speculators created am"buy" market for hard currency.  Iraq couldn't turn down the cash cow and printed trillions of dinars to meet the need of the voracious overseas demand by speculators.  This is unique in history.  It is true that iraq has enormous underground resources, but unpumped unsold oil can't pay for a one to one RV.  Their CBI reserves are not anywhere close to paying out an RV.  Because of thisnunique "speculator" environment, wher you have millions of speculators whomwill want to cash in IMMEDIATELY, not willing to be spread out over time as Aitshioud suggests.

[dontlop]

I think we should read this again

When faced with the prospect of a currency crisis, central bankers in a fixed exchange rate economy can try to maintain the current fixed exchange rate by eating into the country's foreign reserves, or letting the exchange rate fluctuate.

Why is tapping into foreign reserves a solution? When the market expects devaluation, downward pressure placed on the currency can really only be offset by an increase in the interest rate. In order to increase the rate, the central bank has to shrink the money supply, which in turn increases demand for the currency. (>>>>The bank can do this by selling off foreign reserves to create a capital outflow. When the bank sells a portion of its foreign reserves, it receives payment in the form of the domestic currency, which it holds out of circulation as an asset.<<<<)<<<<<currency auctions?

Some are calling for much smaller rvs

Like 10 cents

Or 10 of our dinars for one of the new ones with deleted zeros

Or even one penny with a fixed exchange rate between the two IQD at 100 to one

So don't focus on a guru that's calling for straight up one to one rvs

No one knows yet

Look at how they did the two IQD exchange in 2003

One was 150 to one and one was one to one

So it is possible to do a one to one rv by deleting 3 zeros but fix a seperate exchange rate for the existing dinars we hold

[dontlop]

Yea they borrowed that money to buy those jets. You just so conveniently left that out. They are not wealthy....If they were pumping enough oil out of the ground they wouldn't need to borrow that now would they? Oh but they have plenty of money right?

Stop being lazy and do your own legwork. All you have done is made statements to which you can't even explain which indicates you don't even know what you were saying in the first place.

You just can't think of enough to say bad about Iraq no matter what anyone is talking about

I guess when someone finances a car they don't have enough money to cover their basic needs and they are poor

You really don't understand the world do ya

When a country sells bonds at 2% interest and they invest it and the returns are 4% that's is a good thing

They didn't do it because they are broke and can't afford basic needs

It's the way the world works

Company's finance constantly and it's not because they are poor and can't afford basic needs

When Microsoft finances new facilities do ya think they are poor and can't pay for basic needs ??

Wake up and read up on the things you don't understand and stop making rediculous comments it's getting old and annoying

[rwmountainboy]

Why is it when the lopster tank gets hot we suddenly get these new faces around here that try the same old lopster tactics - hello Dinarck ,networth , sam I am butt kissers

Ewingm and rwmountainboy I see straight past both your BS

You are rude.  I have no desire to have a conversation with someone who has no respect for others.

 

Peace to you brother.

[ewingm]

I'm sorry Dontlop, I don't agree with you on this point.  When a currency RV or RD occurs, ALL the currency is treated in an identical manner.  Your example above using two currency exchange rates, applied only to the Swiss dinar, used mostly by the Kurds.  It was accepted by the IMF as having an established value far above Saddam's inflated dinar.  That scenario does not exist now.  Iraq has one currency, currently pegged at 1170 per dollar.  Every iraqi dinar will be treated identically the same if an RV or RD occurs.  That includes electronic dinar and Warkaaccounts.  It will all change together as one currency.

[dontlop]

The point you are missing, gentlemen, is that Iraq is unique in history.  There has not been a situation quite like this where a sovereign country had its economy destroyed by war, its currency first artificially inflatednto $3 by Saddam, and then destroyed, ending in a depreciated condition of 1170 to oneUSD.  It looks ripe for an RV, no question about it.  Back in 2003-2005, if they had RVed, people would have made alot of money. BUT that is no longer the case.  Over the last 9 years, millions of speculators created am"buy" market for hard currency.  Iraq couldn't turn down the cash cow and printed trillions of dinars to meet the need of the voracious overseas demand by speculators.  This is unique in history.  It is true that iraq has enormous underground resources, but unpumped unsold oil can't pay for a one to one RV.  Their CBI reserves are not anywhere close to paying out an RV.  Because of thisnunique "speculator" environment, wher you have millions of speculators whomwill want to cash in IMMEDIATELY, not willing to be spread out over time as Aitshioud suggests.

Nothing has to be paid for

If they have gold in their vaults right now backing the dinar and the dinar is circulating in Iraq that gold sits in a pile collecting dust it's not paying for anything

They use dollars right now for importing

So why would they need gold sitting in a vault

If they ever need money to cover a trade deficit they can borrow from the reserves or borrow from the IMF to maintain their dinar value till restructuring is complete

Backing currency is history

If Iraq needs money to cover some external debts and they can't afford it they expand oil production "their reserve"

Till they he things squared away

Your way over thinking this paying for a rv thing

Do you have any figures from any legitimate sources that tell you their are trillions of dinar out side of Iraq

Or are there really billions

Please post any links that verify your concerns of being able to pay for trillions of dinar in the USA

And if its one trillion what would that cost them to rv at ten cents

100 billion

A simple central bank currency swap would cover that with the fed or other central banks

Banks love coming to the rescue

And Iraq has the assets to back up what ever they do

Their not going to spend all 20 trillion dollars worth of oil and gas proven reserves the day it rvs

I believe your only speculating how much dinar is floating around based on a guru story like the 32 dollar rv you keep referring to

I'm sorry Dontlop, I don't agree with you on this point.  When a currency RV or RD occurs, ALL the currency is treated in an identical manner.  Your example above using two currency exchange rates, applied only to the Swiss dinar, used mostly by the Kurds.  It was accepted by the IMF as having an established value far above Saddam's inflated dinar.  That scenario does not exist now.  Iraq has one currency, currently pegged at 1170 per dollar.  Every iraqi dinar will be treated identically the same if an RV or RD occurs.  That includes electronic dinar and Warkaaccounts.  It will all change together as one currency.

Established a value ??

How's that

By pegging it

Or backing it with reserves ?

I don't think they had anything backing it the Kurds claimed they had no currency of their own in 2003

Explain the established part so Iraq can " establish there's too.

No need for reserves then right?

If the Kurds can establish it

Where was it established?

It wasn't accepted any where in the world

No one backed it

http://www.personal.kent.edu/~cupton/Senior%20Seminar/Papers/ElyLecture.pdf

No one backed the Swiss dinar at all with anything

Established ?

[Bumper64]

I have ask that the name calling STOP between those that are here in the LOPster tank and yet it still continues!!   We allow a little more to go on in here than in the general forum but when we ask for something to stop we mean STOP!!

 

 

dontlop this is totally uncalled for and just earned you 24 hours of MOD REVIEW:

You will never understand I'll treat you like your mentally retarded 

 

 

 

My patience is really starting to wear thin with some here!!!   

[keepmwlknfny]

I think we should read this again

When faced with the prospect of a currency crisis, central bankers in a fixed exchange rate economy can try to maintain the current fixed exchange rate by eating into the country's foreign reserves, or letting the exchange rate fluctuate.

Why is tapping into foreign reserves a solution? When the market expects devaluation, downward pressure placed on the currency can really only be offset by an increase in the interest rate. In order to increase the rate, the central bank has to shrink the money supply, which in turn increases demand for the currency. (>>>>The bank can do this by selling off foreign reserves to create a capital outflow. When the bank sells a portion of its foreign reserves, it receives payment in the form of the domestic currency, which it holds out of circulation as an asset.<<<<)<<<<<currency auctions?

Some are calling for much smaller rvs

Like 10 cents

Or 10 of our dinars for one of the new ones with deleted zeros

Or even one penny with a fixed exchange rate between the two IQD at 100 to one

So don't focus on a guru that's calling for straight up one to one rvs

No one knows yet

Look at how they did the two IQD exchange in 2003

One was 150 to one and one was one to one

So it is possible to do a one to one rv by deleting 3 zeros but fix a seperate exchange rate for the existing dinars we hold

Keep dreaming....and share with DB....you can't compare that situation with Iraq today. Just like most everything else you try to compare Iraq with. They are not gonna RD and set a separate exchange rate just so they can make speculators happy and pay out from their reserves. That's how pegged currencies get there value, by setting a rate based on reserves that they would be willing to buy back all offers on.

Iraq is only looking out for themselves. They could really care less if dontlop throws a tantrum cause he can't exchange his old dinar back. Guess what? It was never made to be bought up by speculators so it's all on you....

 

 

I have ask that the name calling STOP between those that are here in the LOPster tank and yet it still continues!! We allow a little more to go on in here than in the general forum but when we ask for something to stop we mean STOP!!

dontlop this is totally uncalled for and just earned you 24 hours of MOD REVIEW:

My patience is really starting to wear thin with some here!!!

At least your being fair to all parties....Thank you

[Bumper64]

keepm, for the most part I will always try and be fair to everyone.  My downfall is that I don't spend as much time in the Lopster tank as I should to monitor most of these post.  I guess that could be a good thing seeing that I most likely would have banned everyone if I did stay in the tank.    

[keepmwlknfny]

keepm, for the most part I will always try and be fair to everyone. My downfall is that I don't spend as much time in the Lopster tank as I should to monitor most of these post. I guess that could be a good thing seeing that I most likely would have banned everyone if I did stay in the tank.

Lol you are probly right! There would be no one left haha

[dontlop]

Sorry RVPleaseToday for saying that to you

[ewingm]

My incursion into this discussion is for a legitimate debate  Dontlop and I have a cordial interaction and I respect his views, although I disagree.  I will not engage in name calling, as I respect everyone on this site for their intelligence and commitment.  But that does not mean we can't engage each other with differing viewpoints.  Please don't ban Donltop, as he possesses a vast knowledge of information, and he is enjoyable to debate with.   Thanks. 

[Bumper64]

My incursion into this discussion is for a legitimate debate  Dontlop and I have a cordial interaction and I respect his views, although I disagree.  I will not engage in name calling, as I respect everyone on this site for their intelligence and commitment.  But that does not mean we can't engage each other with differing viewpoints.  Please don't ban Donltop, as he possesses a vast knowledge of information, and he is enjoyable to debate with.   Thanks. 

Well said!!

 

 I have no desire to ban dontlop but I needed to get my point across!  I see dontlop has already stepped up and offered his apology to rvpleasetoday so that shows good character in my book!

[ewingm]

Amen, my brother, and thanks.  Dontlop is feisty, but so are most people who believe strongly in their views.  I'll whittle him down gracefully though.  Trash talk gets us no where.  I love the debate with people who are dedicated as he obviously is.  Thanks again.   ewingm

[aitshioud]

Another crazy day in the tank, and the world keeps spinning.