How Does the RV CASH-OUT Actually Work?

[ewingm]

There has been an unbroken line of dreams from dinarians on these forums for the use of their RV money.  That's totally understandable.  Who doesn't dream about what they'd do if riches came in their direction.  I get it.  Now let's discuss HOW that process would actually work.  It is my opinion, after reading hundreds of posts about this process, that most dinarians think they will be able to perform this exchange of physical dinar for either physical or electronic dollars at their local banks.  Since it is my OPINION that right now banks don't deal in iraqi dinars, what has to occur to change this policy in our US banking system?  It is my OPINION that local banks answer to US Treasury policy, and the US Treasury must be in compliance with the ARTICLES in IMF.  If that is correct, then, in my OPINION, the governing Board of  IMF must condone any money reforms in a country to give it legitimacy.  It is my OPINION that Saddam's unilateral RV of the iraqi dinar in 1999 was NOT condoned by the IMF.  And therefore, it was not ACCEPTED by the world outside iraq's borders. What do you think?  

[caz1104]

I think you need to talk to those that you will be doing business with once & if the Dinar RV's. Most of us have..............and have a plan. You as the rest of us do not know what will happen. My bank has stated numerous times it's intentions and funny they don't match Ewingnuts gloom & doom scenario...........who woulda thought-LOL.

 

Ewingnut, you keep on believing what Iraq keeps on telling you of their plans are for the future. Like the US Gov they love folks like your self that buy what their sellin.

[SocalDinar]

The Bellagio

[Texstorm]

Ewingm I don't have dinars that were printed by Saddams regime, as for the IMF I don't think that the US has to comply with anything. If the US chooses to accept dinars for trade then that is what it is. We kind of make up our own set of rules as we have for hundreds of years.

[dontlop]

I agree as demonstrated by the actions of India and iraq looking to trade with local currencies

They aren't talking with the IMF , they are talking between themselves

India and Iraq are exploring the possibility of making payments in domestic currencies through an understanding between the Central Banks of the two countries to resolve the issue of delay in payments to exporters.

Iraq is also working on making the tendering process for sourcing equipment amenable for Indian companies, which at present are left out because goods of Indian origin are not allowed to participate in tenders floated by Iraqi companies.

These assurances were given by the visiting Iraqi Prime Minister, Nouri Kamil Al-Maliki and Indian and Iraqi business leaders at a gathering organised jointly by FICCI, CII and Assocham.

Addressing the business leaders, Mr. Al-Maliki said that his visit was aimed at speeding up the process of integrating the capacities and expertise of the two countries to take trade and investment cooperation to the next level. He invited Indian businesses to engage with their counterparts in Iraq in oil exploration, setting up of refineries, petrochemicals, agriculture education and health sectors.

``We rely heavily on India for the reconstruction and development of Iraq which has been devastated by war and adventure. We are setting up democratic institutions which had been destroyed by dictatorship. Iraq had passed a number of legislations on investment promotion and management of the business sector,’’ he added.

Speaking on the occasion, Commerce and Industry Minister, Anand Sharma said India is exploring the possibility of bilateral trade with Iraq in domestic currencies. He said the issue of payment for trade in local currencies will be discussed during the bilateral meetings between Mr. Al-Maliki and Indian Ministers. India-Iraq bilateral trade currently stands at around $21 billion.

Mr. Sharma hoped that the visit of the Iraqi Prime Minister will open pathways for greater cooperation in the oil sector. He offered India’s strength and technological capabilities to build Infrastructure projects in Iraq.

FICCI president, Naina Lal Kidwai said that India was looking at Iraq as a long term partner in trade and investment cooperation. Such cooperation would not be limited to the oil sector but embrace a gamut of sectors including infrastructure, pharma, health and education. ``The need of the hour was to create platforms for the two governments to make the environment conducive for businesses of both countries,’’ she added.

http://m.thehindu.com/business/Industry/india-iraq-exploring-payment-in-domestic-currency-anand-sharma/article5052675.ece/

The federal reserve is our central bank

Not the IMF

`The need of the hour was to create platforms for the two governments to make the environment conducive for businesses of both countries,’’ she add

Read more: http://dinarvets.com/forums/index.php?/topic/191795-how-does-the-rv-cash-out-actually-work/#ixzz3Kf9N3Wcv

Iraq needs its international soveriegn credit rating by the big three

Standard and poor

Moodys

And

Fitch

The bank of international settlements will list the rating when it is avaliable

Without the credit rating and their acceptance of imf article 8 no one will be doing business with iraq in their local currency

But its not a law that they can't

Like the article says india is exploring the posibility

Some people might remember a couple years ago when standard and poor down graded the United states credit rating

It is a big deal

It's all based on the ability to pay your debts

Watch Iraqs currenct account figures on the cbi web site as long as it's in the positive figures your good

If it slips to negative numbers that means they can't pay their debts

[Texstorm]

I guess that ends that thread.....Next !

[ewingm]

Not so fast, Tex.  Ole mr. Dontlop loves to smother you with C/P information, of which very little applies to the question at hand.  I don't think the IMF would stand in the way of two sovereign countries making a trade agreements between THEMSELVES.  If they agree on the exchange rate between rupies and dinars, so be it.  But it is an ENTIRELY different matter when it comes to redeeming iraqi dinars in overseas counties.  Right now you can't even redeem them at the paltry 1166 to 1 ratio.  Imagine what would happen if iraq all of the sudden says, "  Hey, world,  we are now declaring the dinar to be worth $3 US dollars to one dinar.  A 300,000%  revalue.  Overnight.  I would imagine that the US Fed would have second thoughts about honoring that, wouldn't you?  There has to be some concensis on honoring the RV before your local bank is going to honor YOU.  Just my opinion, of course.  Not stating fact here.  Wouldn't want to be accussed of lying, you know.

Edited December 1, 2014 by ewingm

[caz1104]

That be a 1st.....................so folks don't buy into the new & improved Ewingnut. He's proven not to be trustworthy in the past so please be careful. If it quacks like a DUCK....................it's probably a LOPster.

[Texstorm]

Ewingm by now you got to get the drift that I'm a straight forward kind of man, if you already know the answer to to the threads you start, you could just as easily enlighten us to the facts before we cross that ditch. Na.... that wouldn't be any fun for you would it ?

[dontlop]

I don't think the IMF would stand in the way of two sovereign countries making a trade agreements between THEMSELVES.

And excepting trade in domestic currencies right ?

So if an iraqi businessman buys some brass trinkets from India and pays for them in iraqi dinar because the india central bank excepts them then that's all good

Right back to the goods and services debate which you like to stay away from

What is the final redemption of the U.S. dollar ewingm?

Other currency ?

Try again

It's goods and services

Every country is set up like that now

That's what fiat currency is

Nothing backs it but the ability to spend it in the issuing country for goods and services

India is saying they may allow the iraqi dinar to circulate in India

That means they will hold it as a reserve currency and likewise in iraq using the india rupee

Edited December 1, 2014 by dontlop

[dontlop]

Imagine what would happen if iraq all of the sudden says, "  Hey, world,  we are now declaring the dinar to be worth $3 US dollars to one dinar.  A 300,000%  revalue.  Overnight.  

All that means is that's the amount of goods and services can be bought with the iraqi dinar

You want to dismiss the external debt factor as if there is no such thing to concider

Iraq can have a hundred quadrillion dinar locally in iraq and in the cbi vaults

It doesn't mean they have a hundred quadrillion debt

It just means they have a hundred quadrillion dinar

I have a thousand dollars credit line does that mean I'm in debt a thousand dollars

If I spend two thousand my credit is shot

Heck if I only spent 1000 my credit would be shut down

If my service on that 1000 dollars is 25 dollars in interest a month and I make 1000 dollars a month am I broke ?

People love to buy debt as long as there's an ability to pay

Iraq right now is showing they have the ability to pay a hundred billion dollars a year

So how much debt can iraq service with that ?

Countrys live on debt

Your worried about something you don't know anything about

I got a check book right now

I can write my own debt

Just think what a country with trillions of dollars worth of natural resources can do

Just because your limited to a small variety of goods and services to buy in iraq doesn't mean their currency is no good

You should of thought about that before you exchanged your dollars for dinar

There's a fee you pay to exchange them it goes both ways

So if you don't like what you did YA just take the loss and exchange them back

No one besides you ewingm is saying they will not exchange them back

People are holding on to their dinars in hope the value of them go up

Who are you ewingm to say it won't

You don't know what iraq will produce in the future

Maybe they will invent something better that the current Internet or a better way to use gasoline

They could be one a new source of goods and services and the dinar might be in demand

You don't know what iraqi scientists are working on

Or what every inventor in iraq is working on

You cannot predict the future of a new private sector that has just been released from a dictator

You need to learn about the ways of the world and look past your nose

[dontlop]

Hey ewingm

You shouldn't bother grooming yourself any more since you could be killed in a car wreck

You can walk in the park and a tree branch can fall and kill you so don't bothrr with taking the chance of walking in the park or driving your car

You could be robbed next week end and they can take all your money so don't bother going to work this week

Hey don't bother brushing your teeth ewingm since there's a chance you relatives might kick your teeth out for lying to them

The what ifs never end ewingm

This is life

We all understand it

This is a risk just like betting on a horse based on the stats in the program

It looks good but there's no guarentees

We get it ewingm you are always looking for the worst scenario

http://www.goodtherapy.org/blog/dear-gt/why-do-i-always-seem-to-assume-the-worst

[caz1104]

Ewingnut created a premise(family & church) that tugs at folks hearts,shameless imo.

[ewingm]

Well, I got no answer that wasn't laced with sarcasm, so I'll ask this VERY important question again.  The reason I ask it is because it seems that most( my opinion, not fact) dinarians are just waiting for that e-mail or phone call at 3 am that says " the Iraqi dinar has RVed"   Now, once that occurs, the next step is to haul your load of physical bills down to.......where?  Most (opinion, again) dinarians seem to believe that if iraq just makes the RV announcement, then the sky will turn blue and WF will be running to accept your dinars.  Not so fast, amigos.  I don't believe ( opinion) that it will work that way.  In fact ( my fact only) I don't think any bank will handle you any differently than right now, which is to say "NYET".  All sorts of financial decisions in very high places would have to agree before banks started forking over Billions or Trillions of US dollars for iraqi play money.  And you won't want Dontlop's "goods and services" in exchange for money.  You will want cash, not camel dung cleaning services for the next million years.  Think about it and let me know

Edited December 1, 2014 by ewingm

[dontlop]

Your losing your mind ewingm

Your just here because your family tossed you to the curb for irritating them

It's the way of the world and fiat currency ewingm

Not dontlops way

[keepmwlknfny]

All that means is that's the amount of goods and services can be bought with the iraqi dinar

You want to dismiss the external debt factor as if there is no such thing to concider

Iraq can have a hundred quadrillion dinar locally in iraq and in the cbi vaults

It doesn't mean they have a hundred quadrillion debt

It just means they have a hundred quadrillion dinar

I have a thousand dollars credit line does that mean I'm in debt a thousand dollars

If I spend two thousand my credit is shot

Heck if I only spent 1000 my credit would be shut down

If my service on that 1000 dollars is 25 dollars in interest a month and I make 1000 dollars a month am I broke ?

People love to buy debt as long as there's an ability to pay

Iraq right now is showing they have the ability to pay a hundred billion dollars a year

So how much debt can iraq service with that ?

Countrys live on debt

Your worried about something you don't know anything about

I got a check book right now

I can write my own debt

Just think what a country with trillions of dollars worth of natural resources can do

Just because your limited to a small variety of goods and services to buy in iraq doesn't mean their currency is no good

You should of thought about that before you exchanged your dollars for dinar

There's a fee you pay to exchange them it goes both ways

So if you don't like what you did YA just take the loss and exchange them back

No one besides you ewingm is saying they will not exchange them back

People are holding on to their dinars in hope the value of them go up

Who are you ewingm to say it won't

You don't know what iraq will produce in the future

Maybe they will invent something better that the current Internet or a better way to use gasoline

They could be one a new source of goods and services and the dinar might be in demand

You don't know what iraqi scientists are working on

Or what every inventor in iraq is working on

You cannot predict the future of a new private sector that has just been released from a dictator

You need to learn about the ways of the world and look past your nose

If your so sure they might have a chance then why did you sell out? Your a talking contradiction....

Your losing your mind ewingm

Your just here because your family tossed you to the curb for irritating them

It's the way of the world and fiat currency ewingm

Not dontlops way

You still haven't learned about the difference between a market driven currency like the USD which is backed by its goods and services available, and a pegged currency which is backed by the central banks reserves? Come on now....what have you been doing all this time?

[Texstorm]

Well as usual Ewingm you're putting the cart before the horse, that is not what a country boy does because he knows better. I personally don't give a hoot who is going to pay me. If I was Iraq I would make the IQD redeemable in-country , set up the Iraqy Airways with a non-stop round trip flights to accommodate all of these dinarians that you are so worried about. Hell I'd charge everyone coming and going, have the money changers at the airports, bring them in, spin them around and make mucho dinaro off everyone. Or how about this, since you are admitting to a full scale RV possibility in Iraq, they could require that the oil companies abroad be in charge of scooping up and delivering the IQD back to Iraq. There is nothing that greed can't accomplish. Just a thought....certainly not an opinion ! 

[caz1104]

Thank god it's only your opinion. My bank doesn't see it your way and already has plans. Ewingnut why do you continue to try to push your views on others even when they have no once of fact. You DON't believe................great leave the rest of us alone. DA TANK is a great place to present differing opinions................true. But even your opinions aren't based on anything of real value. Now your telling everybody that will listen, that YOU know how all banks will do business once/if the Dinar revalues......................please go back to making up stories, at least they had some entertainment value. 

Edited December 1, 2014 by caz1104

[keepmwlknfny]

Well as usual Ewingm you're putting the cart before the horse, that is not what a country boy does because he knows better. I personally don't give a hoot who is going to pay me. If I was Iraq I would make the IQD redeemable in-country , set up the Iraqy Airways with a non-stop round trip flights to accommodate all of these dinarians that you are so worried about. Hell I'd charge everyone coming and going, have the money changers at the airports, bring them in, spin them around and make mucho dinaro off everyone. Or how about this, since you are admitting to a full scale RV possibility in Iraq, they could require that the oil companies abroad be in charge of scooping up and delivering the IQD back to Iraq. There is nothing that greed can't accomplish. Just a thought....certainly not an opinion !

You would fork out all this money to fly people around the world to Iraq, to deplete the reserves you have backing the value of your currency?

[caz1104]

Keep,

 

I think Tex is having some fun at Ewingnuts expense. Ewingnut is quite the ..........how do we say this nicely....................BS'er. Ewingnut  likes to live in the world of make believe sometimes others just join him so as not to let him be so lonely.

Happy Holiday's

Edited December 1, 2014 by caz1104

[SnowGlobe7]

So you think it will RV..but no go international?

[ewingm]

Cashing in on your RV windfall IS the most important thing every dinarian should have down pat ( in my opinion).  Right now you can't even cash in a palty 1166 to 1 dinar at any financial institution(maybe if you go to india)  What must take place to change this policy?  Just the CBI saying its now $3 ?  Saddam tried that and it didn't work.  So what must the CBI do to have ANY significant REVALUE of the dinar ACCEPTED at face value around the world?  Anybody know?  Anybody?  Somebody?    That's right,  NOBODY has the answer! Now that's just my opinion, you hear?

[caz1104]

Thank god I held onto those tickets to India I won at the church raffle last year..............cashin in was never made so easy. Thanks Ewingnut for the info

[Texstorm]

Hello Keep ! I think over the years I've heard it all from the fractional banking solution scenario to $16.85 per dinar. Clearly no one has the answer or we could have stuck a fork in this thing a long time ago. While the solution and the outcome may seem  clandestine to you , there are many of us who know that Iraq has been paid for by the blood of our troops. I choose not to believe that it was not all in vein and that their new found democracy will lend credence and hope and freedom to their county. If their ever was a dark horse it's Iraq, they are moving forward and will someday reach their potential. Every passing day brings new laws to protect and sustain their country. As I stated before they are literally going to be catapulted into a new era with the a sustainable infrastructure given the fact that they have all of the resources needed.

[dontlop]

You still haven't learned about the difference between a market driven currency like the USD which is backed by its goods and services available, and a pegged currency which is backed by the central banks reserves? Come on now....what have you been doing all this time?

Your implying the United states never had a gold backed dollar and they were always floating its currency or your implying it's impossible for iraq to do the same thing

You need to realize that everything is the way it is because of changes in monetary systems

But you boast that iraq can't change they always have to abide in what you say

Your nobody

Your the guy who promised the rv was done in 2010 and asked people to trust you

What do you know ?

How to insult people

Ah ha ha ha ha ha ha