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rockfl9
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2 hours ago, SocalDinar said:

I personally know a few who haved moved to Oregon, Texas and Colorado.  We do produce a lot of high wage earners so the numbers show a net increase of high wage earners. Jerry Browns exit tax stalled a lot of moves.  I also know many that simply moved their physical address to other states to  avoid paying California's  capitol gains taxes. They only pay earned income taxes.  

But I do wonder why you think its fair for any one person to pay a higher percentage of tax?  You already pay more because you make more.

The bottom 40% pay nothing and many get money back because of credits.  That surely does not seem fair to me.  

As far as live within our means i agree. But more tax is not the answer.  Our local governments are bloated and overspend.

Our Librarian in my small town of 20,000 people makes $160,000 per year.  I have two small businesses and when i see that i wish i had taken a city job years ago. Many times i have put my house on the line and for what? To keep my employees working and my businesses alive.

 

As far as green house gas taxes we already pay the highest in the nation.  Arnolds cap and trade tax on refineries costs everyone over 50 cents a gallon. And you want to increase that tax to go to infrastructure products.? 

Jerry's gas tax passed in the middle of the night was supposed to make our roads better but it has only made government pensions better.

And how about all the taxes they call fees? No voter approval needed if they call it a fee.

 

California was paradise when i grew up here. Not so much anymore.

Hey SD.

 

When I said the top 10% should be taedx more as it would be more fair, I didn't mean only in the tax sense but in the overall sense that the top 10% have made out very well over the past few decades, much better than the bottom 90%.  Why should one get a deduction for a mortgage but not for rent? and so on.  I don't think there is anything "fair" about taxing income in the first place, and why one kind of income differently than another?  If we want a fair taxation system I think it has to be a federal sales tax system so no forms, no deductions.  And give everyone (so no qualification or paperwork) a refund to cover the poverty rate of the federal sales tax on basic essentials so it won't be regressive.  This has no corporate tax at all.  This is the so called Fair Tax, but it will never be passed.  It would put to many CPAs and tax attorneys out of a job.

 

I don't like cap and trade as it doesn't produce a net reduction nearly fast enough.  Our choices at this point wrt climate change are have things be bad and expensive or really really bad and really really expensive.  The former seems like the obvious pick to me, and that means we have to stop making it worse very fast.  So that is why I favor a green house gas tax.  And I propose the revenue form that be spent exclusively on infrastructure projects since we are in desperate need of that as well and do not have another funding source for them.  So two birds with one stone so to speak.  We should also of course stop federal subsides to the fossil fuel industry (around $20B a year) and that could go directly to deficit reduction.  The world is clamoring for sustainable energy products so there is in fact huge money to be made here (as there is with any big industry shift)  if the government would stop hindering things and lead other nations to do similar things.  As it is those jobs and profits are going to go to China while we subsidize oil and coal.

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13 hours ago, EverCurious452 said:

No I was responding to Caz's "BS" response (on 1/7/19 10:07am) to my post (a somewhat old one where I was answering Botzwana's question of why I was here.

 

Rock however is correct in his core idea (even if expressed rather cryptically) that a $0.10 RV would require 100x the amount of dollars the CBI has in its reserves.  When Iraqi's become 100x richer they are going to want to buy a lot of imported stuff which will require dollars.  When the CBI runs dry after the first 1% exchange, what do you think will happen?

If the Dinar becomes internationally traded at the same time as the RV, I don't think there will be a run on the banks. Why wouldn't they use their own money in their own country just like we do with ours. As for the imported good, If they're already in country they'll use their own currency like you and I buying something made in China in our local Walmart. If on the other hand they go and purchase in that country, they'll exchange over there like you and I would do if we were traveling abroad. 

 

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1 hour ago, Rugbylaird19 said:

If the Dinar becomes internationally traded at the same time as the RV, I don't think there will be a run on the banks. Why wouldn't they use their own money in their own country just like we do with ours. As for the imported good, If they're already in country they'll use their own currency like you and I buying something made in China in our local Walmart. If on the other hand they go and purchase in that country, they'll exchange over there like you and I would do if we were traveling abroad. 

 

I'm not sure what "internationally traded" means.  But I don't think it matters.  As long as the IQD remains a pegged currency (which is needed for the CBI to do an RV) then the rate will be set by what the CBI actually can offer and any exchange anywhere eventually comes back to the CBI.  Any bank will only exchange for what it knows it can get from the CBI (minus its margin).

 

Local consumers don't buy things directly from other countries, but the importers / wholesalers do.  That is what will run the CBI our of dollars.  Plus of course just ordinary Iraqi's wanting to cash out just like folks here want to do.     The CBI's reserves get replenished from oil dollars (by the GOI exchanging its oil dollars for IQD to pay its budget) and the CBI's reserves get depleleted by importers exchanging IQD for dollars to bring goods into the country for locals to buy.  Now those two are balanced.  An RV to $0.01 let alone more increase the depletion side by the RV factor (10x, 100x, 1000x) but the replenishment side remains the same so the CBI would run out of its reserves in an instant.

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18 hours ago, EverCurious452 said:

You make my point for me Caz.  No engagement or discussion just insults.

When you create BS it's not unusual for folks to call you out. Many "discussions" have occurred as to why LOPsters remain after divesting themselves from Dinar.....none that past the smell test. As you well know....the majority stick around to push their own agendas, reinvent themselves, or to present themselves as saviors (sic) to weak unintelligent tools that buy dinar.  

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8 hours ago, SocalDinar said:

I personally know a few who haved moved to Oregon, Texas and Colorado.  We do produce a lot of high wage earners so the numbers show a net increase of high wage earners. Jerry Browns exit tax stalled a lot of moves.  I also know many that simply moved their physical address to other states to  avoid paying California's  capitol gains taxes. They only pay earned income taxes.  

But I do wonder why you think its fair for any one person to pay a higher percentage of tax?  You already pay more because you make more.

The bottom 40% pay nothing and many get money back because of credits.  That surely does not seem fair to me.  

As far as live within our means i agree. But more tax is not the answer.  Our local governments are bloated and overspend.

Our Librarian in my small town of 20,000 people makes $160,000 per year.  I have two small businesses and when i see that i wish i had taken a city job years ago. Many times i have put my house on the line and for what? To keep my employees working and my businesses alive.

 

As far as green house gas taxes we already pay the highest in the nation.  Arnolds cap and trade tax on refineries costs everyone over 50 cents a gallon. And you want to increase that tax to go to infrastructure products.? 

Jerry's gas tax passed in the middle of the night was supposed to make our roads better but it has only made government pensions better.

And how about all the taxes they call fees? No voter approval needed if they call it a fee.

 

California was paradise when i grew up here. Not so much anymore.

:twothumbs:

Cali is taxing itself out of existence (exaggeration- but u know what I mean) 

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1 hour ago, caz1104 said:

When you create BS it's not unusual for folks to call you out. Many "discussions" have occurred as to why LOPsters remain after divesting themselves from Dinar.....none that past the smell test. As you well know....the majority stick around to push their own agendas, reinvent themselves, or to present themselves as saviors (sic) to weak unintelligent tools that buy dinar.  

Many such as yourself have made plenty of assertions on this topic but few have listened to what those whose motives are being questioned have to say for themsleves.  I would not call such activities a discussion nor would I call it useful. nor do I understand why you engage in it so much.  But to each their own.

Edited by EverCurious452
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7 hours ago, EverCurious452 said:

Hey SD.

 

When I said the top 10% should be taedx more as it would be more fair, I didn't mean only in the tax sense but in the overall sense that the top 10% have made out very well over the past few decades, much better than the bottom 90%.  Why should one get a deduction for a mortgage but not for rent? and so on.  I don't think there is anything "fair" about taxing income in the first place, and why one kind of income differently than another?  If we want a fair taxation system I think it has to be a federal sales tax system so no forms, no deductions.  And give everyone (so no qualification or paperwork) a refund to cover the poverty rate of the federal sales tax on basic essentials so it won't be regressive.  This has no corporate tax at all.  This is the so called Fair Tax, but it will never be passed.  It would put to many CPAs and tax attorneys out of a job.

 

I don't like cap and trade as it doesn't produce a net reduction nearly fast enough.  Our choices at this point wrt climate change are have things be bad and expensive or really really bad and really really expensive.  The former seems like the obvious pick to me, and that means we have to stop making it worse very fast.  So that is why I favor a green house gas tax.  And I propose the revenue form that be spent exclusively on infrastructure projects since we are in desperate need of that as well and do not have another funding source for them.  So two birds with one stone so to speak.  We should also of course stop federal subsides to the fossil fuel industry (around $20B a year) and that could go directly to deficit reduction.  The world is clamoring for sustainable energy products so there is in fact huge money to be made here (as there is with any big industry shift)  if the government would stop hindering things and lead other nations to do similar things.  As it is those jobs and profits are going to go to China while we subsidize oil and coal.

I just looked up what the top 10% make annually . LOL  I guess my wife and I are in the Top10% for the USA. Could not find CA data.

I surely dont consider myself wealthy.  But we own a few properties and a couple of businesses so we do OK.  

 

I would be game for a flat tax.  But hate to put any burden on Businesses .  My main company is an electrical contracting business. I pay tax on all my materiels . I dont deal with the reseller with the state.  We are a service business so we dont charge tax.  I would imagine i would need to start collecting tax if we go to a federal sales tax.   Also concerned about the Black markets this will cause with everything..

 

My other business is a product I invented and sell.   Its an RV accessory ..... no pun intended.  I do collect all state sales tax for this  on Ca sales.  I have it made in China.  Could not even come close to being able to manufacture here.  One raw unit would cost $58 each.made here.

Im having two made ( set ) powder coated, bubble wrapped put in a retail box with all mounting hardware and shipped half way around the world.

Take a guess how much  $18.50!!!!!!!!!!!!!!!!!!!!

 

As far as climate change goes i feel we will evolve or die. Simple as that.  Main problem is there are too many people and the Worlds population is growing. How do you make other countries adhere to climate change policies. Answer is we cant.  

I do work for some refineries in SOCAL.  They  sell the petroleum coke. Its to dirty to burn here, So off it goes to China. Guess what? They burn it!!!!!!!!  They dont have a different atmosphere last time i looked. No doubt that the glaciers are melting.   What we need is a nice global pandemic.... Thats about the only real solution.  That or when we run out of Oil..

 

 

 

 

 

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2 hours ago, caz1104 said:

:twothumbs:

Cali is taxing itself out of existence (exaggeration- but u know what I mean) 

Hey Caz.. Hope all is well with you and your family

 

We had a chance to repeal a gas tax and make our legislature vote on any new gas tax.  Guess what .. The morons voted against it.  Could not believe the amount of wasteful bonds that passed also.  I now get taxed for every square foot of impermeable ground ( concrete. ) Thjey say its because the water does not go into the water table....  I live 1/4 mile from the pacific. No water wells here.  Their will be a tipping point  Not sure when but its coming.

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I'm not sure what you mean by a "burden on business" SD. I think its a pretty huge burden to have to fill out tax forms for a corporation, mighty expensive too.  In a fair tax system corporations do not pay sales tax.  The thinking being that if profits are not sufficient after tax they are just going to raise prices so consumers end up paying anyway.

 

As for climate change "evolve or die" off IS the case for a lot of species but humans will adapt.  But, it won't be very pleasant.  Fresh water and arable land moving around, sea level rise, more storms, more drought.  Its all going to be expensive.   We can make it less bad by getting off of carbon ASAP.  Its absolutely true that we can not "make" other countries do likewise, but that is what leadership is about.  Other countries know they have a huge problem, we have to help them solve it (and hey why not make money in the process?).

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1 hour ago, EverCurious452 said:

I'm not sure what you mean by a "burden on business" SD. I think its a pretty huge burden to have to fill out tax forms for a corporation, mighty expensive too.  In a fair tax system corporations do not pay sales tax.  The thinking being that if profits are not sufficient after tax they are just going to raise prices so consumers end up paying anyway.

 

As for climate change "evolve or die" off IS the case for a lot of species but humans will adapt.  But, it won't be very pleasant.  Fresh water and arable land moving around, sea level rise, more storms, more drought.  Its all going to be expensive.   We can make it less bad by getting off of carbon ASAP.  Its absolutely true that we can not "make" other countries do likewise, but that is what leadership is about.  Other countries know they have a huge problem, we have to help them solve it (and hey why not make money in the process?).

But who collects the tax?  Filing my quarterly State board of equalization

(Can’t remember the new name of agency) is a pain in the rear. And I only sell about 150 units a quarter. 

As as far as my S Corp goes my tax guy saves me quite a bit  of money . But it Would be nice to get rid of 7 years worth of files . Must  be 20 boxes of them in my garage LOL

 

iIf we are to believe the climate science  

( and I do ) there  is no stopping this train

.And storms and drought are the least of our worries . When the oceans  Bio plankton die off we will witness decreased oxygen levels . By 2100 our O2 levels at sea level will be the same as Mount Everest . Mankind will suffocate 

And this will be a natural event. We are a part of nature. We are not special 

 

 

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True, in the FairTax idea, businesses would have to collect federal sales tax as they currently collect state and local sales taxes.  Still easier then income taxes I'd think.  

 

Climate change has already had a big impact on plankton and that seems very likely to continue, though its also true that some species that could not compete before are multiplying like mad given the warming we have already had.  How that will all end up?  I certainly don't know.  But reducing carbon to make that impact as small as possible seems like a prudent idea.  There are also folks proposing things like global dimming to counter the warming (gee what could go wrong?).  "We are a part of nature. We are not special ", total agreement there.

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12 hours ago, EverCurious452 said:

I'm not sure what "internationally traded" means.  But I don't think it matters.  As long as the IQD remains a pegged currency (which is needed for the CBI to do an RV) then the rate will be set by what the CBI actually can offer and any exchange anywhere eventually comes back to the CBI.  Any bank will only exchange for what it knows it can get from the CBI (minus its margin).

 

Local consumers don't buy things directly from other countries, but the importers / wholesalers do.  That is what will run the CBI our of dollars.  Plus of course just ordinary Iraqi's wanting to cash out just like folks here want to do.     The CBI's reserves get replenished from oil dollars (by the GOI exchanging its oil dollars for IQD to pay its budget) and the CBI's reserves get depleleted by importers exchanging IQD for dollars to bring goods into the country for locals to buy.  Now those two are balanced.  An RV to $0.01 let alone more increase the depletion side by the RV factor (10x, 100x, 1000x) but the replenishment side remains the same so the CBI would run out of its reserves in an instant.

I'm just trying to understand why there would be a run on the banks by the locals "cashing out". A post RV Dinar (lets say 1 to 1) that is internationally traded (accepted everywhere) would be no different than our dollar. If the exchange rate changed between the dollar and another currency that favored the other currency, I don't see the American people running to the banks to exchange.                                              

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5 hours ago, Rugbylaird19 said:

I'm just trying to understand why there would be a run on the banks by the locals "cashing out". A post RV Dinar (lets say 1 to 1) that is internationally traded (accepted everywhere) would be no different than our dollar. If the exchange rate changed between the dollar and another currency that favored the other currency, I don't see the American people running to the banks to exchange.                                              

The dollar floats.  There is no official rate of exchange as the rate you get is determined by what a particular seller offers.  The rate quoted is an average of all recent sales.  Its so wide spread and the US economy is so large that the rate does not move up or down very quickly so it is very stable.

The dinar is pegged.  Its rate is set by the CBI and all exchanges eventually get back to the CBI.  Any entity accepting dinar in exchange is only going to do so based on what they know they can get for them from the CBI.  If the CBI does not have the reserves to cover the rate, no one will exchange them at that rate (which is why the CBI would never do such a thing).  

Iragi's will want to cash out to the more stable dollar because they have been living in a war torn country and even NOW prefer dollars to dinars (which is why the street price to get them is higher than the official rate).  If the rate was raised to a value that the CBI could not actually sustain, there will be a run to cash out to get that rate before the system collapses (which again is why the CBI would never do this).

Plus of course there is all the imported stuff newly wealthy (relatively speaking to what they had before) will want to buy which alone would drain the CBI of its reserves.

Edited by EverCurious452
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On ‎1‎/‎9‎/‎2019 at 8:23 PM, SocalDinar said:

Hey Caz.. Hope all is well with you and your family

 

We had a chance to repeal a gas tax and make our legislature vote on any new gas tax.  Guess what .. The morons voted against it.  Could not believe the amount of wasteful bonds that passed also.  I now get taxed for every square foot of impermeable ground ( concrete. ) Thjey say its because the water does not go into the water table....  I live 1/4 mile from the pacific. No water wells here.  Their will be a tipping point  Not sure when but its coming.

:twothumbs:

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On ‎1‎/‎9‎/‎2019 at 7:36 PM, EverCurious452 said:

Many such as yourself have made plenty of assertions on this topic but few have listened to what those whose motives are being questioned have to say for themsleves.  I would not call such activities a discussion nor would I call it useful. nor do I understand why you engage in it so much.  But to each their own.

I agree and bounce said response back at you....what would you call what you do as useful?

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On 1/9/2019 at 12:21 AM, Markinsa said:

 

ou're defending what @rockfl9 posted? :lol:  Please decipher what he is saying and back it up with SOUND ECONOMICS.

 

 

 A novel thought Mark .. let's give it a try , but a little at a time to prevent overload.

Economics is the SCIENCE of the production, distribution and consumption of WEALTH.  As a science it has rules ,standard definitions and values..   In a multinational world an exchange of  wealth occurs when both parties agree on the value. 

If , in the case of the IQD the CBI says the value is .10 usd per IQD and the other party says it is only worth .001 ,then there is NO exchange.  The IQD could well circulate within the country at the .10 rate but that is all.  There is NO rule that the  CBI can enforce its rate across national boundaries !

Now the IQD is in a fixed exchange rate regime . It has a certain amount of IQD in circulation supported by an amount of hard assets (reserves) to support its value .  That determines the  exchange rate for  other world currencies IN IRAQ as those currencies can be exchanged for equivalent hard currency. If the CBI/MOF want to improve the exchange it MUST add to the  reserves the adequate amount without increasing the IQD in circulation.  That is the RULE.  NOW could they just change  the rate and not add to the reserves. Within

the country YES, that is called CURRENCY INFLATION ,  many countries have to do it to survive (e.g. Venezuela, Egypt , Iran ) .  Could they HIDE the fact that they are inflating the currency and no one would know .. VERY unlikely in todays world . The IMF ,BIS and UN have staffs that track the moves and accumulation of hard reserves almost on a daily basis . It would be easily discovered.

Now the alternative would be to FLOAT the currency , that is to allow the rate to follow supply/demand.  This would not make sense in the case of the IQD because there is no  demand  for IQD  unless the CBI  takes steps to cut supply which would only hurt the domestic economy. 

Enough for now !

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8 hours ago, caz1104 said:

I agree and bounce said response back at you....what would you call what you do as useful?

Useful to ME (or that is what I was hoping for).  If its useful to others, that'd be an added benefit but I was mostly trying to understand why people do such things as put money into something that can not provide a return.  So far only one response (I think that was Teastorm by am not sure) has offered any hint at that, who said that they understood there is no known way for this to happen but are hoping for a miracle. Ok, I sort of get that, but I don't think that explains most people's participation in this.

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5 hours ago, rockfl9 said:

If , in the case of the IQD the CBI says the value is .10 usd per IQD and the other party says it is only worth .001 ,then there is NO exchange.  The IQD could well circulate within the country at the .10 rate but that is all.  There is NO rule that the  CBI can enforce its rate across national boundaries !

Only if IQD can not be carried across the border.  If they can, then this violates the "one price" law in economics.  That basically says that barring costs for transportation, tariffs, or legal limit on buying and selling this thing (currency in this case), things have to be about the same price in different locations.  Otherwise you just roundtrip between the two buying at one rate and selling at the other and pretty soon you own the planet (in this case starting with $1,000, five roundtrips gets you $10T).

 

5 hours ago, rockfl9 said:

NOW could they just change  the rate and not add to the reserves. Within

the country YES, that is called CURRENCY INFLATION.

I think you meant "they could change the rate DOWARD, i.e. more dinar per dollar)".  They can not raise the rate without either adding to the reserves or lowering the size of the money supply (or placing very strict limits on currency exchanges so as to not deplete the reserves, which would mean the rate was not real, it was just a show rate).

Edited by EverCurious452
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18 hours ago, EverCurious452 said:

Only if IQD can not be carried across the border.  If they can, then this violates the "one price" law in economics.  That basically says that barring costs for transportation, tariffs, or legal limit on buying and selling this thing (currency in this case), things have to be about the same price in different locations.  Otherwise you just roundtrip between the two buying at one rate and selling at the other and pretty soon you own the planet (in this case starting with $1,000, five roundtrips gets you $10T).

 

I think you meant "they could change the rate DOWARD, i.e. more dinar per dollar)".  They can not raise the rate without either adding to the reserves or lowering the size of the money supply (or placing very strict limits on currency exchanges so as to not deplete the reserves, which would mean the rate was not real, it was just a show rate).

At this time the GOI PROHIBITS IQD from legally   leaving the country !  Iraqi's can leave with only 10,000 cash ,  dont know if it is checked on return. 

The reason is that they want to control the way the  wealth  leaving the country ..Importers with permission are allowed only the amount of dollars for the amount of goods they bring in. They can limit the amount of foreign currency available to a traveler by the exchanges at the cash window of a bank (i,e,  they will check passport and ticket ) but there is no limit to the amount of IQD available so they have this restriction ( for law-abiding Iraqis ,of course). 

Of course WE know that the dealers here can get crisp uncirculated  IQD somehow.

Although it is called a PEGGED currency... don't take the word too seriously ... The exchange rates given are approximations.  Since the IQD is not freely traded, It is just a tool ..You are correct it is only a show rate.. In fact if you do the calculation you will see that the reserves are well short of the necessary hard currency to justify the rate.  The number is what it is to give the appearance of   stability , but really the  MOF is loosing money with every trade.  . 

Edited by rockfl9
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On ‎1‎/‎11‎/‎2019 at 7:59 PM, EverCurious452 said:

Useful to ME (or that is what I was hoping for).  If its useful to others, that'd be an added benefit but I was mostly trying to understand why people do such things as put money into something that can not provide a return.  So far only one response (I think that was Teastorm by am not sure) has offered any hint at that, who said that they understood there is no known way for this to happen but are hoping for a miracle. Ok, I sort of get that, but I don't think that explains most people's participation in this.

Let me get this right...you visit DV to try to understand why folks invest? LOL Please don't say your writing a book, that ridiculous BS answer is already in play by another LOPster.....do you do the same with other ventures as well?

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1 hour ago, caz1104 said:

Let me get this right...you visit DV to try to understand why folks invest? LOL Please don't say your writing a book, that ridiculous BS answer is already in play by another LOPster.....do you do the same with other ventures as well?

This so called "investment" Is a dream that a poor country that doesnt have enough income that it must BORROW to balance its budget,  is going to GIVE AWAY millions of dollars to make them RICH .  

BUT they have no idea of why  or when or how it will happen ... Does not look like a SOUND INVESTMENT to  me.

Following the babble of so called Gurus that they should know as LIARS.

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2 hours ago, caz1104 said:

Let me get this right...you visit DV to try to understand why folks invest? LOL Please don't say your writing a book, that ridiculous BS answer is already in play by another LOPster.....do you do the same with other ventures as well?

If you really are trying to "get this right" you do not seem to be trying very hard.

 

I did not say I was trying to understand why folks invest.  I know that, I even understand why people buy lottery tickets.  What I said was that I was trying "to understand why people do such things as put money into something that can not provide a return".   An investment is something where a positive return is possible (even if (extremely) unlikely).  The RV is not and never was possible.   Even breaking even will be extremely unlikely.  But again an investment is not something where the best possible outcome if you are extremely lucky is that you might break even.

 

And no I am not writing a book, I'm just curious.  Other actual investments have a possibility of a positive return, so no I don't ask this question in actual investment forums.

Edited by EverCurious452
background color seemed to be off
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On 1/14/2019 at 4:20 PM, EverCurious452 said:

If you really are trying to "get this right" you do not seem to be trying very hard.

 

I did not say I was trying to understand why folks invest.  I know that, I even understand why people buy lottery tickets.  What I said was that I was trying "to understand why people do such things as put money into something that can not provide a return".   An investment is something where a positive return is possible (even if (extremely) unlikely).  The RV is not and never was possible.   Even breaking even will be extremely unlikely.  But again an investment is not something where the best possible outcome if you are extremely lucky is that you might break even.

 !

And no I am not writing a book, I'm just curious.  Other actual investments have a possibility of a positive return, so no I don't ask this question in actual investment forums.

You would think that the belief in a overnight windfall that was sure to happen 10 years ago would have died away completely by now.  Simple logic would have debunked the notion but the rumors and badly interpreted news by the gurus keep the myth alive . 

I ask where will the money come from ?  No answer !  Dinarians want to believe that some day they get a email to call a number and they will go to a secret location with their dinar and walk out with a pile of dollars .. How ridiculous !   Banks dont do that.  Since  9/11 banks must operate on the "know your customer rule " .   Then there is the problem of what would the bank do with the stack of  paper , a special problem for those with lots of small notes.  Well they could make the RVed IQD a reserve currency ( Seriously !!!!!! NOT A CHANCE )

The most ridiculous idea is that the IQD is greatly undervalued and THEY are the only ones WHO KNOW .   The CBI  just has't found the right time to tell the world.    Oh, also they have been buying up IQD  and destroying it , but not telling anyone .  But the dinarians have figured it out.   

 

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  • 3 months later...
On 1/19/2019 at 3:24 PM, rockfl9 said:

 

The most ridiculous idea is that the IQD is greatly undervalued and THEY are the only ones WHO KNOW .   The CBI  just has't found the right time to tell the world.    Oh, also they have been buying up IQD  and destroying it , but not telling anyone .  But the dinarians have figured it out.   

 

At least a few Dinarians are questioning that MAYBE the current exchange rate is what it should be !  When Shabibi tried to change it to 1166  IT didnt hold and had to go back to 1180 and now is 1190. HMMMMM!  

Iraq has more needs than money , WHY would it plan to give it away. 

A look into the future: 

The population is increasing at a greater rate than income.

More are joining the ranks of unemployed adding to welfare costs.

Not enough safe water.

Not enough electricity.

Poor sanitation.

Need to import more food.

A financial death-spiral.

 

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