Iraq sees foreign reserves dropping to $43 bln in 2016 - IMF memo BAGHDad Jan 12 Iraq plans to finance its balance of payments deficit by drawing its

[caz1104]

Overwhelming Debt is the American way!!!!

[SocalDinar]

Caz,  Didn' know it was SDs input .. Hope we can drop the diversion and get back to formative issues. Things like " Why can't you buy/sell dinar at a real bank??? Will you ever be able to. My thoughts , only if the CBI openly states it will buy back dinar across the borders !!!

If the dinar was trully  "undervalued"  They certainly would gain by taking it back at the current rate ... Ahem... Out of the country it is really worthless to them.  They don't need it.

Sorry Rock, I should have thicker skin and not let someone get me upset like that. I apologize to everyone for sinking to that level. Its really not me.

Anyway I used to think the IQD was undervalued but have long since given up on that belief. There is nothing that indicates it is undervalued. Guys like Breitling were easy to believe. He almost seemed logical, especially to an uneducated blue collar guy like me.

It may be true that Countries like China undervalue their currencies to give them an economic edge. I have a product made in China that would cost 500% more here in the USA so they do get my business. But I think Iraq has a lot of shortcomings that China does not.

I know a wealthy man from Iraq who says that the Iraqi people have no work ethic and are a lazy people. he said a life of mediocrity is ok with them and few have any real goals in life. IMO In order for them to prosper this must change. I also believe we have a similar problem here in the USA these days.

Now we see in articles out that the KRG wants to borrow from the reserves . This can only weaken the dinar. I don't see how it can not. And Oil is not the answer either. Pumping oil produces very few jobs once the infrastructure is built.

[Antietam]

Here's my take. First the Iraqi dinar has never been internationally traded. The fabled $3 exchange rate was only accepted in Iraq and nowhere else. But iraq has alot of oil. I have some fading faith that the GOI will get things going again. But I am becoming less and less willing to just accept the status quo of the typical dinarians philosophy. I am pessimistic about any revalue for quite some time. I am very glad that I reduced my exposure by 75% . I know that won't make caz happy because she doesn't like anyone presenting anything other than lockstep to the big RV. Caz will respond to this posting very quickly. Watch and see.

[Freedomrules]

Sorry Rock, I should have thicker skin and not let someone get me upset like that. I apologize to everyone for sinking to that level. Its really not me.

Absolutely no reason to apologize Socal. We all know who started it like he does every time. We know he was poking for a reaction. So what you reacted. Good for you. At least you have an opinion regarding the dinar. I wish he would have said that to you in person.

It's a safe bet that he has nice and baby soft hands. Especially the one that gets all the lotion. In the words of the angry little man " LOL Priceless."

[Freedomrules]

Here's my take. First the Iraqi dinar has never been internationally traded. The fabled $3 exchange rate was only accepted in Iraq and nowhere else. But iraq has alot of oil. I have some fading faith that the GOI will get things going again. But I am becoming less and less willing to just accept the status quo of the typical dinarians philosophy. I am pessimistic about any revalue for quite some time. I am very glad that I reduced my exposure by 75% . I know that won't make caz happy because she doesn't like anyone presenting anything other than lockstep to the big RV. Caz will respond to this posting very quickly. Watch and see.

No one cares what he has to say, No one at all. He is not worth responding to. Just a spoiled little mamas boy that comes to the lobster section to pull on his little itsy bitsy teenie weenie toy.

[caz1104]

LOL!!! Monkey( or Caveman) see other Monkey's do. Funny that the children can complain but have no problem berating others themselves- priceless

[caz1104]

FR,

 

I thought we had a civil interaction till YOU decided to join the "I can berate you, but I'll cry like a baby if do in like" gang. I guess your like the others if I don't agree with you, you resort to callin folks names (as evidence above). Thanks for the heads up, I'll know better in the future who I'm dealin with. 

[SocalDinar]

Ok whats everyones opinion on this?

The CB shows the Market rate at 1234 The central seems to usually over value this rate. In reality it's probably more like 1250 on the streets of Baghdad.

We have always heard that the goal of the CB was to dedollarize the country. If this truly was the case this could have been accomplished long ago. Whats your take on why the Dollar is still used for approzx 30% of all cash transaction?

If they were to completely Dedollarize it may have a negative impact on the Dollar and the Fed must be aware of this. As you know the Fed and the bank of England hold the foreign reserves for th CB so they could control the release of these funds if they deemed it necessary.When Germany asked for their physical gold from the Fed a few years back they were told they would have to wait till 2020. If they can withhold gold surely they could withhold the reserves. But by releasing these reserves to be loaned to the GOI they might believe it will weaken the IQD even further thus raising the Dollar.

So I suspect the Fed would be more than happy to facilitate this transfer of their reserves. Why not. As far as the gold it probably does not exist hence the delay of Germany's Au

Edited January 28, 2016 by SocalDinar

[Antietam]

SD, that's all good and great, but remember the one predominant fact here. All world currencies are fiat. There is no gold, silver or platinum backing each bill printed. It's all thin air. The value of a country's currency is based on its economy and on the faith other people place on it. America has the strongest economy and the people of the world therefore consider it as a stable reserve currency. We don't yoyo our dollar's value like the Chinese do. That's what causes the stock market jitters. Investors don't completely trust the Chinese economy, but for some great historical reason, people trust the USA to stay strong and vibrant. Even after a run of 8 years by a moron. It's our great middle class which pumps confidence into the rest of the world. And our Constitution which provides the freedoms that no other country in the world adheres to. We are the great standard bearer of global finance. That is why iraq will NEVER be able to dedollarize their marketplace. The common iraqi just trusts the old greenback more than he trusts the dinar. And it's only going to get worse with the rise of the peg to 1180.

[dinarbeleiver]

Nothing changes in the lopster tank

Nothing changes with the gurus either lol

I have respect for the lopster even though I think they are completely wrong

As for the gurus there are some I respect OOTW being one. But for the life of me some of the gurus esp the likes of streaker are just dispicable

[caz1104]

Hey DB,

 

Been awhile.

 

Yep same ol same ol here in Da Tank. - LOL

[dinarbeleiver]

Hi caz Im good pal.  I took sometime out from the dinar and my lopster bashing. I noticed the LOPSTER breed have all but dwindled,  where are they all? Maybe they finally decoded to move on with their lives lol. As for me I really want a conclusion to this investment now good or bad. 11 years of waiting now is taking its toll

[caz1104]

Yep I agree. I wait patiently for a conclusion pro/con and can live with it either way. I think and this is just a guess for no one knows why one lingers on and on after divesting, but I think it's attempt for some to somehow clear their conscience. A lot have said they talked others into vesting and now that they feel nothing good will come from this (DV) they feel the need to warn others. If that's what it takes to make them feel better about themselves - cool. End of day they have to let go and move on and I think that many have done that. As you can see some have not come to terms with their demons. Of course just my opinions based on 5+ years here at DV- No expert by any means, but a good reader of people. 

[Antietam]

Caz, there's absolutely nothing wrong with providing alternative points of view. I remember reading DB's postings a couple of years ago and he was gung ho, buying dinar right and left, but now he sounds depressed that his big RV never happened. No telling how deep into the currency he got himself, but I bet he is NOT buying any more dinar now. He finally came to the reality check that old lobsters like Keeps used to try to explain to him, but to no avail. Now old dB realizes he may have made a big mistake. That's what the lobster tank presents....alternative scenarios to the big RV. I don't think there are many out there who still believe in that except the "newbies" to caz's shill-like rantings.

[caz1104]

Auntiem,

 

I agree nothing wrong with differing views. It's when crap like "caz's shill-like rantings" come out that's when I respond in kind.

[SocalDinar]

SD, that's all good and great, but remember the one predominant fact here. All world currencies are fiat. There is no gold, silver or platinum backing each bill printed. It's all thin air. The value of a country's currency is based on its economy and on the faith other people place on it. America has the strongest economy and the people of the world therefore consider it as a stable reserve currency. We don't yoyo our dollar's value like the Chinese do. That's what causes the stock market jitters. Investors don't completely trust the Chinese economy, but for some great historical reason, people trust the USA to stay strong and vibrant. Even after a run of 8 years by a moron. It's our great middle class which pumps confidence into the rest of the world. And our Constitution which provides the freedoms that no other country in the world adheres to. We are the great standard bearer of global finance. That is why iraq will NEVER be able to dedollarize their marketplace. The common iraqi just trusts the old greenback more than he trusts the dinar. And it's only going to get worse with the rise of the peg to 1180.

And every Fiat currency eventually fails Antietam. Every single one including seashells.

I too also think that Iraq will not Dedollarize anytime soon. It looks like the opposite might happen if the Central drops the rate even further than 1182.

[Antietam]

Well, caz, if you'd just give us your opinion on how the dinar scenario plays out, we wouldn't rag on you all the time. It's just that you NEVER give you thoughts about it, only criticize people who don't fit your RV dreams. That's what make you sound just like MtGoat, and we ALL know what a shill he is.

[caz1104]

Auntyem,                 I predict the Dinar has the possibility of rising or dropping in value. I also predict at some point the Dinar will be a worldwide tradeable currency. Of course I agree none of what I just stated is earth shattering news.............but really what is? It's real easy to point out the obvious either way. That's why I rag on you LOPsters like I do,  Now explain based on your overall posts why you shouldn't be considered a LOPster? You throw out an occasional " I believe that dinar will eventually rise in value" to throw off folks. But the majority of your posts have LOPster stamped all over them. I'm ok with ya being a LOPster..........just say it.You asked me on another thread if I had made any money on this venture....................I was honest. Can you honestly say the same about your premise?

Edited January 28, 2016 by caz1104

[Freedomrules]

Who cares.  This is the lopster section right?  Why does it matter if you believe him?  We dont care if you believe him. This is an anonymous message board so why do you care. Are you trying to protect those that bought into this lie. The whole Idea of a country increasing the value of it's currency to the extent that so many here believe is just Insane. It's not even plausible that a country would ever do this to the tune of 100,000%. Maybe 2% but come on now 100,000%  There is not that much money in the world.  Why in Earth do people think this is possible?

 

Oh ya  because Kuwait did the same thing. All lies.

 

Iraq is in Deep Financial trouble and if they don't find a way to pay their Government employees and Their Army the whole country will fall apart. They are all corrupt and surely the extremists numbers will only grow.

 

Also the Hype about a Hydrocarbon law is really a joke.  HCL does not mean a thing. Even if they did agree with a law i doubt that either side would adhere to it. Thats their way and their mentality. 

 

They can keep their sand playground.  I did my time and for all I care they can pound that sand. Cant believe this idiot in the white house has us back over there. What a moron.

[caz1104]

FR,

 

Who are you trying to protect? You don't believe in a RV..............right?  Why ya here? "Why in earth do people think this possible"?  Why do you care what others believe/think?

Edited January 28, 2016 by caz1104

[caz1104]

FR,

 

To answer a one of your questions.

He claims he's NOT a LOPster to answer your question. Nothing sinister or hidden agenda in my post.

[SgtFuryUSCZ]

Ok whats everyones opinion on this?

The CB shows the Market rate at 1234

***///

 

Random place-holder numbers.

 

It's also the code to open the CBI's main branch vault,

 

Abadi's laptop Password

 

and believe it or not,

 

the evil Maliki's ATM pin number.

 

Any more questions...?  

 

     

[Freedomrules]

FR,

 

Who are you trying to protect? You don't believe in a RV..............right?  Why ya here? "Why in earth do people think this possible"?  Why do you care what others believe/think?

Because I hate that Country and this is a good way to vent. So many dead.  For what?   Those ungrateful Sand noogers don't deserve squat. Excluding their children they can all kiss my rear and Allah can too. 

[dinarbeleiver]

Caz, there's absolutely nothing wrong with providing alternative points of view. I remember reading DB's postings a couple of years ago and he was gung ho, buying dinar right and left, but now he sounds depressed that his big RV never happened. No telling how deep into the currency he got himself, but I bet he is NOT buying any more dinar now. He finally came to the reality check that old lobsters like Keeps used to try to explain to him, but to no avail. Now old dB realizes he may have made a big mistake. That's what the lobster tank presents....alternative scenarios to the big RV. I don't think there are many out there who still believe in that except the "newbies" to caz's shill-like rantings.

Caz, there's absolutely nothing wrong with providing alternative points of view. I remember reading DB's postings a couple of years ago and he was gung ho, buying dinar right and left, but now he sounds depressed that his big RV never happened. No telling how deep into the currency he got himself, but I bet he is NOT buying any more dinar now. He finally came to the reality check that old lobsters like Keeps used to try to explain to him, but to no avail. Now old dB realizes he may have made a big mistake. That's what the lobster tank presents....alternative scenarios to the big RV. I don't think there are many out there who still believe in that except the "newbies" to caz's shill-like rantings.

Caz, there's absolutely nothing wrong with providing alternative points of view. I remember reading DB's postings a couple of years ago and he was gung ho, buying dinar right and left, but now he sounds depressed that his big RV never happened. No telling how deep into the currency he got himself, but I bet he is NOT buying any more dinar now. He finally came to the reality check that old lobsters like Keeps used to try to explain to him, but to no avail. Now old dB realizes he may have made a big mistake. That's what the lobster tank presents....alternative scenarios to the big RV. I don't think there are many out there who still believe in that except the "newbies" to caz's shill-like rantings.

Caz, there's absolutely nothing wrong with providing alternative points of view. I remember reading DB's postings a couple of years ago and he was gung ho, buying dinar right and left, but now he sounds depressed that his big RV never happened. No telling how deep into the currency he got himself, but I bet he is NOT buying any more dinar now. He finally came to the reality check that old lobsters like Keeps used to try to explain to him, but to no avail. Now old dB realizes he may have made a big mistake. That's what the lobster tank presents....alternative scenarios to the big RV. I don't think there are many out there who still believe in that except the "newbies" to caz's shill-like rantings.

erm actually I still think there will be a big RV and I still buy dinar except that I do it in a way so it costs me nothing. I sell the the dinar so I gain my own stash for free

[Antietam]

Come on, dB. You are a long time dinar holder. No long term dinar holder is buying dinar now. You'd have to have a financial death wish to do that now. Either that or you have the biggest set of reality blinders on your eyes of all time! I have heard that there are still people out there trying to get Bernie Madhoff to sell them stocks! You fit right into that crowd, my brother. Your "stash" as you put it, is losing money! Come over to the winning side and buy Zimbabwe dollars. A few quad trillion will brighten you right up! I know you own Zimbabwe!