Deleting the zeros is not what you want!

[dontlop]

With Dontlop, you just have to keep coming back to reality.  He knows the truth, he just likes a good argument.  Can't take it personal.  The dinar is an emotional ride for people invested.  I don't fault them for being "testy" when it comes to lobsters.  But a debate requires two opposing sides to work.  I bring facts, Dontlop brings ..........well I'm not sure what he brings, but he's entertaining.  Grab the lifeboats people.  Money doesn't grow on trees these days.  If iraq shuts the door on out of country redemption, I wonder if you dinarians can write it off your taxes as a charitable donation?   Any thoughts?.

If you bring facts you should be able to bring links with your facts

We have asked but you can't provide

[AdwRd]

Article 36 is sooo scary!

 

Article 36      Redemption of currency

1. The CBI may decide to redeem banknotes or coins by issuing, free of charge, other

banknotes or coins in equivalent amounts. A decision to redeem banknotes or coins shall be

issued in the form of a regulation of the CBI specifying the period during which the exchange

shall take place and the locations and times at which withdrawn banknotes or coins shall be

presented for redemption.

 

2. At the end of the exchange period, or at any other time specified by the CBI, redeemed

banknotes and coins shall be demonetized and cease to be legal tender.

 

3. The CBI shall notify the public, by publication in the Official Publication, of the banknotes

and coins that are legal tender.

It actually is... think about it a bit more and apply it to your investment strategy.  The light may come on after a few days...

[Markinsa]

It actually is... think about it a bit more and apply it to your investment strategy.  The light may come on after a few days...

 

Boo! Nope, thought about it, not scared at all. The CBI won't cut off its nose to screw people outside of the country, which includes the IMF, World Bank, Paris Treaty, etc....

 

-

[AdwRd]

Boo! Nope, thought about it, not scared at all. The CBI won't cut off its nose to screw people outside of the country, which includes the IMF, World Bank, Paris Treaty, etc....

 

-

[rockfl9]

Boo! Nope, thought about it, not scared at all. The CBI won't cut off its nose to screw people outside of the country, which includes the IMF, World Bank, Paris Treaty, etc....

 

Iraq will pay all its international obligations in dollars/SDRs. It must because IQD has NO VALUE out of the country. Art 32.1 states that it is NOT a promisory note or commercial document. So to go international there must be a change in the CBI law first.

[ewingm]

You have to admit Markinsa, that the CBI wording in Article 32 and 36 provides the iraqis more room to be clever than even I am comfortable with, and  I don't hold dinars.  I've heard many people say, " Oh, they wouldn't do that to us".  Baloney.  They don't like us.  They sell their oil to people who don't like us, and they know you are sitting on their currency waiting to drain their reserves if they RV'd.  They will lop the zeros, give you a short period to exchange, probably in-country, and then slowly Revalue to 1 to 1.  Win win for the iraq people.  Lose Lose for US speculators.  And to my compadre Dontlop, I provide CBI statistics.  How much dinar is held in the US I have no idea.  Probably nobody does except the dealers, and they ain't telling. Its not how much 

Sorry about the cutoff.  Its not about how much dinar Americans hold, its about how much dinar total world speculators hold.  About 20-23 trillion.

Edited May 6, 2014 by ewingm

[dontlop]

Iraqs state banks are not allowed to do business outside of Iraq until Paris agreements are settled

It's not about who likes who

It's about a soveriegn credit rating and world trade

They are not going to work this hard to get their credit rating to b+ And then just screw over people and not honor their country's currency

Edited May 6, 2014 by dontlop

[ewingm]

A redenomination won't hurt their sovereign credit rating.  I'm sure it will improve it.  Losing all those zeros will increase the ease of trade negotations.  Not so many zeros to keep up with.  The CBI is gonna do it.  The only question is how soon.  Anyone who says a three zero lop is good for speculators doesn't have a clue.  Its bad. Total disaster for dinarians.  Find the boats, my friend, while they are still available, or you will be looking for that tax writeoff on bad investments.

[dontlop]

Read at the bottom of page 14 on this link the last half of foot note number 9

Where Fitch discusses Iraqs credit rating back in 2004 and where they need to be to get the average credit rating of. b+

http://scholarlycommons.law.hofstra.edu/cgi/viewcontent.cgi?article=1023&context=jibl

Edited May 6, 2014 by dontlop

[rockfl9]

Iraqs state banks are not allowed to do business outside of Iraq until Paris agreements are settled

It's not about who likes who

It's about a soveriegn credit rating and world trade

They are not going to work this hard to get their credit rating to b+ And then just screw over people and not honor their country's currency

Dontlop: As long as Iraq pays its debts in good hard currency their credit rating is not in question. But if you read Art 32.1 re: The CBI paper is NOT a Promisory Note or commercial document so not honoring them is not an illegal act. They are simply "script". I think when US banks were made aware that the real value here is ZERO , handeling them was not good business.

[dontlop]

Read the last sentence in the last paragraph on page 14 also

Just above the foot notes

http://scholarlycommons.law.hofstra.edu/cgi/viewcontent.cgi?article=1023&context=jibl

The dinar issued by the cbi is legal tender issued by the cbi

Its nothing more nothing less

Dontlop: As long as Iraq pays its debts in good hard currency their credit rating is not in question. But if you read Art 32.1 re: The CBI paper is NOT a Promisory Note or commercial document so not honoring them is not an illegal act. They are simply "script". I think when US banks were made aware that the real value here is ZERO , handeling them was not good business.

The us set it up

Just like the big daddy dollar bill

It worth zero

It's just legal tender in Iraq

Can't be redeemed for gold

Its good for goods and services or another dinar

This link to

A central banker in Iraq

Is about a guy who was there and set this all up

Who lived in saddams palace while he was there

He wasn't living in a chew

There is a lot of good info in there

http://scholarlycommons.law.hofstra.edu/cgi/viewcontent.cgi?article=1023&context=jibl

[Dinarian64]

So who's antagoning who here ?

Looks like you

Any way you want me to shut up so the truth can be debated when you just said you don't read my posts

But some how you know what's in them

Very good

Thanks

Welcome to the mess

Your gonna have to do better than that explaining about all the trillions of dinar in the us you keep talking about

Post some links already so we can get educated

I am in no way "trying to shut (you) up" that is exactly the method of communication I am referring to. I was suggesting - as I have before - to being your opinions in a format that shares the facts versus a fight. I am interested in your vast knowledge and opinion - it is the toxic words and approach that accmpanies them. Quite frankly I have no idea as a result where you stand on half of this because your opinion is often so buried in insults and sarcasm it is hard to interpret - to be honest. I am asking you- please come to the table with more peace. On that note - I said my peace and it was about peace. Your choice to do what you will with it.

[Dinarian64]

Ewngm - I sure hope you are wrong but I can imagine the Iraqi people would rather not pay use. However I am inclined to agree with donlop in that it would be a public embarrassment. It Just depends on who. Do they care and will they provide a guarantee? Let's hope the dealer lines direct to CBI are a good sign in case of a lop for is to trade in currency - the issue will be paying additional spreads which would suck and cause losses for sure.

I am still praying for an RV. I'll take .10, pray for $3 and be wary of guru $30

Ewngm - I sure hope you are wrong but I can imagine the Iraqi people would rather not pay use. However I am inclined to agree with donlop in that it would be a public embarrassment. It Just depends on who. Do they care and will they provide a guarantee? Let's hope the dealer lines direct to CBI are a good sign in case of a lop for is to trade in currency - the issue will be paying additional spreads which would suck and cause losses for sure.

I am still praying for an RV. I'll take .10, pray for $3 and be wary of guru $30

[RVPleaseToday]

Iraq is not talking about MSB's having direct lines to the CBI. I don't know why that isn't clear to the Go RV'ers. They are talking about street traders within Iraq. MSB's do not buy currency directly from central banks. No MSB has direct access to currency auctions at any central bank. MSB's buy currency from brokers which they then own. They sell it, they buy it back, they resale it.

 

These Dinar dealers outside of Iraq will be unloading every Dinar they have (if they can) when Iraq actually is about to lop the three zeros.

[dontlop]

I am in no way "trying to shut (you) up" that is exactly the method of communication I am referring to. I was suggesting - as I have before - to being your opinions in a format that shares the facts versus a fight. I am interested in your vast knowledge and opinion - it is the toxic words and approach that accmpanies them. Quite frankly I have no idea as a result where you stand on half of this because your opinion is often so buried in insults and sarcasm it is hard to interpret - to be honest. I am asking you- please come to the table with more peace. On that note - I said my peace and it was about peace. Your choice to do what you will with it.

You can single me out all you want

For a person who doesn't read my posts you sure do read them a lot

You think I started all this crap

You have no idea

[umbertino]

I got this one - Hemorrhoids are good and everyone has them. In fact we have hemorrhoids, hemorrhoidal nerves, veins and arteries. 

 

Inflammed hemorrhoids, known as piles, are bad.

 

How did I do?

Awesome!

[dontlop]

The CBI has utilized the foreign exchange auction to manage liquidity in the system, to absorb excess dinars, as well as to provide foreign exchange to private sector activity

[bigwave]

Awesome!

Thank you kind sir.

[dontlop]

45. The government remains committed to an open trade and exchange system. In that regard, we are taking steps to become a full member of the World Trade Organization. Looking forward, the government will avoid imposing restrictions on payments and transfers for international transactions, to introduce new or intensify trade restrictions for balance of payments purposes, or resort to multiple currency practices. The government will also discuss with IMF staff the possibility of accepting as early as possible the obligations of Article VIII, Sections 2, 3, and 4 of the IMF's Articles of Agreement.

[ewingm]

The iraqis are not going to have sympathy for the feeling of speculators of their currancy.  I'm sure that they feel we are blood suckers waiting to swoop in and drain their reserves for our own greed if they were to RV.  They will pull the teeth of all speculators by redenominating, and dropping the zeros.  That single act, which is totally legal for them to do, will remove the threat of speculator held dinars out of country.  It also preserves their CBI reserves, which they have worked so hard to increase.  They are not going to turn around and hand all their hard work over to a bunch of dinar speculators.  Never happen.  Not now with some 20-25 trillion being held in the mattresses.  Kiss the zeros goodbye and your profit dream as well.  They won't do it.

 

 

[dontlop]

Article viii

Section 4 says

(a) Each member shall buy balances of its currency held by another member if the latter, in requesting the purchase, represents:

(i) that the balances to be bought have been recently acquired as a result of current transactions; or

(ii) that their conversion is needed for making payments for current transactions.

The buying member shall have the option to pay either in special drawing rights, subject to Article XIX, Section 4, or in the currency of the member making the request.

( The obligation in (a) above shall not apply when:

(i) the convertibility of the balances has been restricted consistently with Section 2 of this Article or Article VI, Section 3;

(ii) the balances have accumulated as a result of transactions effected before the removal by a member of restrictions maintained or imposed under Article XIV, Section 2;

(iii) the balances have been acquired contrary to the exchange regulations of the member which is asked to buy them;

(iv) the currency of the member requesting the purchase has been declared scarce under Article VII, Section 3 (a); or

(v) the member requested to make the purchase is for any reason not entitled to buy currencies of other members from the Fund for its own currency.

The iraqis are not going to have sympathy for the feeling of speculators of their currancy. I'm sure that they feel we are blood suckers waiting to swoop in and drain their reserves for our own greed if they were to RV. They will pull the teeth of all speculators by redenominating, and dropping the zeros. That single act, which is totally legal for them to do, will remove the threat of speculator held dinars out of country. It also preserves their CBI reserves, which they have worked so hard to increase. They are not going to turn around and hand all their hard work over to a bunch of dinar speculators. Never happen. Not now with some 20-25 trillion being held in the mattresses. Kiss the zeros goodbye and your profit dream as well. They won't do it.

Why are you here ?

To be a parrot ?

You make up story's about 25 trillion dollars in mattress you been called out by multiple members asking where you got your information

And we are left thinking you just made it up

And you repeat it all day long

You deserve the ignore button

45. The government remains committed to an open trade and exchange system. In that regard, we are taking steps to become a full member of the World Trade Organization. Looking forward, the government will avoid imposing restrictions on payments and transfers for international transactions, to introduce new or intensify trade restrictions for balance of payments purposes, or resort to multiple currency practices. The government will also discuss with IMF staff the possibility of accepting as early as possible the obligations of Article VIII, Sections 2, 3, and 4 of the IMF's Articles of Agreement.

The iraqis are not going to have sympathy for the feeling of speculators of their currancy.  I'm sure that they feel we are blood suckers waiting to swoop in and drain their reserves for our own greed if they were to RV.  They will pull the teeth of all speculators by redenominating, and dropping the zeros.  That single act, which is totally legal for them to do, will remove the threat of speculator held dinars out of country.  It also preserves their CBI reserves, which they have worked so hard to increase.  They are not going to turn around and hand all their hard work over to a bunch of dinar speculators.  Never happen.  Not now with some 20-25 trillion being held in the mattresses.  Kiss the zeros goodbye and your profit dream as well.  They won't do it.

I'm really trying to figure out your message

What are you saying ?

The part where you say "we " is the best part

I'm sure that they feel we are blood suckers waiting to swoop in

Read more: http://dinarvets.com/forums/index.php?/topic/177233-deleting-the-zeros-is-not-what-you-want/page-20#ixzz30zNAKHko

You must of mortgaged your home and put your retirement into dinar

Then you pretend its your reletives who did it so you live on dinar vets for them

Ah ha ha Ha

Your broke because you bought so much dinar

Edited May 7, 2014 by dontlop

[ewingm]

My answers make alot more sense than your cut and paste malarkey which no one can figure out.  I'm here to throw you a wake up call lifepreserver.  I know you won't put it on, but maybe someone else will and be saved.  You must think logically when dealing with money.  Emotions will always deal you a losing hand, and the iraqi dinar is a losing hand..Time is running out.  Once they announce the redenomination, you lose. Period. 

Edited May 7, 2014 by ewingm

[dontlop]

How are you going to save people by making things up ???

My answers make alot more sense than your cut and paste malarkey which no one can figure out.  I'm here to throw you a wake up call lifepreserver.  I know you won't put it on, but maybe someone else will and be saved.  You must think logically when dealing with money.  Emotions will always deal you a losing hand, and the iraqi dinar is a losing hand..Time is running out.  Once they announce the redenomination, you lose. Period.

So your saying the entire dinar speculation is a wash and were going to lose our money if we don't sell out

And we won't lose as much money if we sell out now

But you can't back up anything your saying

You have said that at least 5 times today

While you make up lies to save people

[waterman13]

Here's something ...... What if the whole "deleting" the zeros, or "lifting" the zeros is nothing more than removing the 3 zero notes from circulation? What would have to happen for that to take place? Exactly, a raise of the value of the notes. Sorta like in the US, there used to be 1,000, 10,000, and 100,000 notes. Not used anymore. Just sayin'. That's what I am betting on, it's not a lop, Period! JMHO

Wm13

[AmericaInc]

I'm not so sure we did much profiting off the Iraq war.  Approx. Two trillion dollars in total monetary cost added to our national debt.  We sure didn't steal their oil like everyone said we'd do.  I'm paying $3.60 a gallon

Oh boy....

 

You were doing so well too! You have revealed several fallacies here in your thinking

 

1. what you pay for gas has nothing to do with who drills for it.

2. huge profits so far...the bombs and materiel to destroy the country, then tremendous rebuilding contracts, corruption,,,etc

3. of course "we" the people did not steal their oil - ExxonMobil, Shell and other foreign companies did (the same people that bought our government) So they can sell it to you for $3.60  gallon.....LOLOLOL

4. Do you REALLY believe the banksters will pass up a chance to make even more money by remonetizing their worthless currency that WE printed for them??????

 

Now how can I believe your lopster arguments when you put this stuff out?

Edited May 7, 2014 by AmericaInc