BetOnDinar Posted April 8, 2014 Report Share Posted April 8, 2014 I've been really excited lately about the news that the CBI has been significantly adding to their gold reserves. But, as I think about it, I'm not sure it's a good thing. Here is my question: If the CBI knew a revalue was coming, why would they buy gold today? Why wouldn't they wait and buy it after the dinar revalued and was worth much more? With a revalued dinar, they could get a whole lot more gold for the same amount of "money". Think about that for a minute. If they knew a revalue was coming, why would they buy anything now? Why not wait until their buying power had revalued higher? And, it doesn't matter whether they bought the gold with US dollars, Euros, or the Dinar. Either way, they are essentially buying it with dinar. If they bought the gold with Euros, then they had to sell dinar to get the euros, so it is really all the same. They bought the gold with dinar that is currently worth very little. Why would they do that if they knew a RV was coming? That question is making me fell a little sick - I have lots of dinar and I'm going to keep it. But, that thought kind of takes my hope away. Here is an analogy: If you owned some shares of Apple's stock, and you KNEW Apple's stock was for sure going to go up by 10,000% really soon, would you sell the stock today and buy gold? No way. You'd wait until the stock went up 10,000% and then sell it for a ton more cash ... which you could used to buy a whole lot more gold. I believe the CBI knows if the dinar is going to revalue or not. If they know, why would they buy gold today? Why? It makes no sense to me unless they know it is not going to RV. I hope someone can logically tell me why I'm wrong. I'm not trying to be negative. I'm just trying to assess the facts and figure out what it all means. Thanks. 3 Link to comment Share on other sites More sharing options...
sandfly Posted April 8, 2014 Report Share Posted April 8, 2014 LIKE WE DO, BUY LOW AMD MAKE MONEY ON THE END Link to comment Share on other sites More sharing options...
Yukon Silvermoon Posted April 8, 2014 Report Share Posted April 8, 2014 THANKS 1 Link to comment Share on other sites More sharing options...
caughtinthecrossfire Posted April 8, 2014 Report Share Posted April 8, 2014 (edited) A couple of things I think about is just how much gold is a "significant" amount but if they're purchasing from outside of Iraq, who would be accepting the Dinar? Wouldn't this validate the currency? I mean legitimizing it on the global market has to start at some uncontestable point, doesn't it? I think that's exciting. Also, I have to think they figure the gold itself will rise in value even though it has dipped recently. That, in and of itself will offset the initial cost of Dinar as the rate now stands. At any rate, they are investing in a hard backing for their currency. We can't even say exactly what they are paying per troy ounce if purchasing in bulk, can we? I suppose you have a point but I think, as for myself, I see the expenditure as a necessity if they have a particular target they must hit for reserve amounts (outside of oil reserves and "not quite finished" other commodities). I'm betting there are a lot of DV members here that can add more. best wishes, crossfire HAHA, Sandfly, you nailed my thoughts a good bit...Silver...you so smacked the fly! Edited April 8, 2014 by caughtinthecrossfire 1 Link to comment Share on other sites More sharing options...
GARY2 Posted April 8, 2014 Report Share Posted April 8, 2014 I have been wondering the exact same thing. I know all of that gold backing the dinar will certainly make it a stronger currency. But, like you say, if they are getting ready to rv why not buy lots more gold with the higher valued dinar?! The only thing that makes sense to me is if they used dollars to buy the gold knowing the dollar is about to get the pee waddle de poo beat out of it very soon. The same for the Euro. The good ole USA is bankrupt and most of the European countrys are so buried in debt they'll see nothing but red for quite awhile. The rumors of a massive change in our banking system going from fiat money to gold &/or other precious metals backed currencys may have something to do with it. I hope I'm wrong but it looks like this is more of a long term investment everyday. Either way, we'll make a great profit, I'd just kinda like to celebrate this year rather than later, The biggest part of my physical life this time is behind me! LOL!! Link to comment Share on other sites More sharing options...
easyrider Posted April 8, 2014 Report Share Posted April 8, 2014 if you do your research Gold has always been a solid backing of a countries currency and whos to say they bought it? what if they already had it? you think they are gonna tell us how much gold they actually possess your own setting your self up for disappointment. They are filthy rich. 1 1 Link to comment Share on other sites More sharing options...
eastcreek Posted April 8, 2014 Report Share Posted April 8, 2014 Not to worry, BetOnDinar, they're buying with oil, not dinar. Link to comment Share on other sites More sharing options...
jeepguy Posted April 8, 2014 Report Share Posted April 8, 2014 a few have in mind , that the gold will be put into coin , and into small ingots , that will sell on open markets , this will bring about the problem of needing smaller dinar notes , { if we go too the article where the gold has been bought , then the article where gold is about to be put on markets for sale , the gold for sale is broken down to real small values like 30.oo too 100.00 dollar per the size of ingot , or gold coin you wish to have in your pockets ... with this deal , the problem of paper notes getting worn out and torn are not dealt with here .... and another item folks are studying , with the purchase of the gold , and the spreading around in smaller amounts for sale , this will bring in the larger dinar notes off the streets ... if there is any left but to be honest . I thin the gold buy will be a good thing , I believe , they bought the gold in to do both of those I spoke of , and this will help In the backing of the dinar , give it the strength it needs to have a value above the 2 too 1 ratio`s <------ this part with the fact that a day or so ago , the article of how the dinar came about in the early days and how much value the area nations around Iraq , their currency is worth against the dinar , Iraqi people are starting to get that need to have their currency back to where it had been ---- above the 2 dollar too 3 dollar mark , < -------- the pride in the nations currency rides here ------ hope that helps jeep 1 Link to comment Share on other sites More sharing options...
haymon Posted April 8, 2014 Report Share Posted April 8, 2014 I thought they needed gold to hold a value to their paper money. Not like the USA that has gold, but has far to much paper printed. They want their paper value supported by their gold. They also cleared away a lot of paper in the purchase. Link to comment Share on other sites More sharing options...
ewingm Posted April 8, 2014 Report Share Posted April 8, 2014 It is true that gold is a historically held economic move to bolster a country's currency. I doubt the gold was purchased in dinars. No country would want them as they are not tradeable on the international currency market. The gold was probably purchased in dollars. Iraq must reduce drastically, the amount of dinar that exists. The only realistic way to do that is through a redenomination. Then with the amount of dinar reduced by 1000% they can do a small RV. 1 Link to comment Share on other sites More sharing options...
handy Posted April 8, 2014 Report Share Posted April 8, 2014 IMO we're going to bank big time . If it just goes to .02 I can retire. From what I've read they already have reduced drastically what they have in circulation in country . In addition to almost tripling their gold reserves since the 1980s , having way more US dollar reserves in their entire history , being able to supply 45% of the global demand for oil (all sweet crude ) , virtually no debt, a projected gdp of 40x what it is now (based on standard charter), having over 15 foreign banks coming in the past few mos. (costing each bank at least 10 million dollars for an Iraqi banking license), hundreds of billions of dollars in frozen assets and the list goes . IMO the IQD is going to sky- rocket but my that's JMO. Link to comment Share on other sites More sharing options...
stealthwarrior Posted April 8, 2014 Report Share Posted April 8, 2014 Iraq will NOT put any gold on the streets to be used as currency.this will violate an agreement made by the united states and OPEC many years ago.this is why you can only purchase oil with dollars.nobody gets any oil until it is paid in dollars and Iraq CANNOT purchase anything with oil.two countries did not sign this agreement Iran AND Lybia.GHADAFI was killed for this reason and we are trying to wipe out Iran.do you really think it is because they are trying to develop nuclear weapons?come on,see the real truth behind these things not what our shitass government tells you.ghadafi wanted to use gold dollars and just about had the whole middle east to go along with his plan,which in my opinion was a good one.what would this do to the worthless paper dollar?can you say collapse buys and girls?our government IS pure evil and manipulates everything in this world and tells us nothing but bold face lies.they lie to us and the world.it will catch up with them someday and the American people with have to pay a heavy toll.God help us all. 4 Link to comment Share on other sites More sharing options...
The Machine Posted April 8, 2014 Report Share Posted April 8, 2014 Iraq will NOT put any gold on the streets to be used as currency.this will violate an agreement made by the united states and OPEC many years ago.this is why you can only purchase oil with dollars.nobody gets any oil until it is paid in dollars and Iraq CANNOT purchase anything with oil.two countries did not sign this agreement Iran AND Lybia.GHADAFI was killed for this reason and we are trying to wipe out Iran.do you really think it is because they are trying to develop nuclear weapons?come on,see the real truth behind these things not what our shitass government tells you.ghadafi wanted to use gold dollars and just about had the whole middle east to go along with his plan,which in my opinion was a good one.what would this do to the worthless paper dollar?can you say collapse buys and girls?our government IS pure evil and manipulates everything in this world and tells us nothing but bold face lies.they lie to us and the world.it will catch up with them someday and the American people with have to pay a heavy toll.God help us all. Someone has been paying attention..... I posted about this only yesterday for anyone else who's interested........ http://dinarvets.com/forums/index.php?/topic/175599-islamic-gold-dinar-will-end-evil-paper-empire-us-nato-slavery-of-mankind/ 3 Link to comment Share on other sites More sharing options...
BetOnDinar Posted April 8, 2014 Author Report Share Posted April 8, 2014 if you do your research Gold has always been a solid backing of a countries currency and whos to say they bought it? what if they already had it? you think they are gonna tell us how much gold they actually possess your own setting your self up for disappointment. They are filthy rich. Interesting thought ... they might have had it all along? That could very well be the case. Not to worry, BetOnDinar, they're buying with oil, not dinar. Another very interesting possibility I hadn't thought of ... IMO we're going to bank big time . If it just goes to .02 I can retire. From what I've read they already have reduced drastically what they have in circulation in country . In addition to almost tripling their gold reserves since the 1980s , having way more US dollar reserves in their entire history , being able to supply 45% of the global demand for oil (all sweet crude ) , virtually no debt, a projected gdp of 40x what it is now (based on standard charter), having over 15 foreign banks coming in the past few mos. (costing each bank at least 10 million dollars for an Iraqi banking license), hundreds of billions of dollars in frozen assets and the list goes . IMO the IQD is going to sky- rocket but my that's JMO. I can retire if it goes to .02 cents too. When I think about what you've written, I don't know how the dinar can't be profitable. Link to comment Share on other sites More sharing options...
gymrat76541 Posted May 21, 2014 Report Share Posted May 21, 2014 If you have ver been to any Middle Eastern country - they LOVE gold! They have more jewelry shops than anywhere else in the world! Link to comment Share on other sites More sharing options...
rottman3 Posted May 21, 2014 Report Share Posted May 21, 2014 The USD will devalue by 50%, when???? Why not buy gold now with the USD they have in reserve. Link to comment Share on other sites More sharing options...
stealthwarrior Posted May 21, 2014 Report Share Posted May 21, 2014 To back their currency.let's just say that they have to.we don't because we are the worlds currency.all other countries have to back their currency. Link to comment Share on other sites More sharing options...
dontlop Posted May 21, 2014 Report Share Posted May 21, 2014 Iraq has said they bought the gold to sell to reduce liquidity of 35 trillion dinar Try to reduce that amount of liquidity with a one dollar dinar You would need 1000 times more gold So they sell good now at around 1,700,000 dinar per ounce to liquidate Or sell it later for 1400 dinar How long will it take and how much gold would it take to liquidate 35 trillion dinar worth a dollar each In order to raise the exchange rate they must reduce the money supply The cbi created a method to do that Sell gold ingots to the public Link to comment Share on other sites More sharing options...
bigwave Posted May 21, 2014 Report Share Posted May 21, 2014 Interesting thought ... they might have had it all along? That could very well be the case. Another very interesting possibility I hadn't thought of ... I can retire if it goes to .02 cents too. When I think about what you've written, I don't know how the dinar can't be profitable. Man, you have a lot of dinar or don't need much more to push you over the top. 1 Link to comment Share on other sites More sharing options...
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