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rockfl9

Financial Management Law

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Has NOTHING to do with RV RI or even lift the zeros.

The key word is MANAGEMENT !  The GOI has finally determined that they have been wasting a lot of money due to poor management of projects and contracts.  They   put a project in the budget , give out the money and the project is never finished AND no one  is held accountable.  Much of the corruption is really just the result of bad management.  This law will standardize the process of Project MANAGEMENT .  I'm sure there will be fines and penalties for lack of performance.

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U R welcome , CAZ.

See drop into the tank once in a while and you might learn something !

BTW NOT Sam , its ROCK. 

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Did you ever think , WHY would anyone pay a million USD for a million IQD ?   Doesnt that sound a little wierd , If a million Iqd had the same purchasing power (?) as the 1 M USD .why would you need to swap?   THe world knows what a dollar is worth , BUT a IQD ???????

Same goes for a 10 cent RV.. My point is that it would be Stoopid  to give up dollars for an even value swap.  

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I'd purchase a million IQD for a million bucks, even-steven, if I knew that the IQD was going to $3.65. (or, had a good feeling about it). But, let's get to even-steven first... It happens... Canadian dollar at .73, goes to US $1.05. you get to yell "bingo"! It happens. I'm hoping it happens here soon.

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On 6/8/2019 at 6:59 PM, MEP01 said:

I'd purchase a million IQD for a million bucks, even-steven, if I knew that the IQD was going to $3.65. (or, had a good feeling about it). But, let's get to even-steven first... It happens... Canadian dollar at .73, goes to US $1.05. you get to yell "bingo"! It happens. I'm hoping it happens here soon.

SOOOO.   If the IQD goes  to a dollar ,  you would hold out for $3.65 ???   To get to a dollar that would be a 10,000 times increase , after that another 3X  wouldn't be hard ... But no one  can explain how it can get to one penny !!!!   And even if the CBI should decree the dinar is  equal to a penny , in Iraq.  NOBODY outside of Iraq would pay a penny.....A penny is real money anywhere in the world.  A dinar really isnt worth the .00086  they are using in their budget , but that serves their purpose.  The  reserves are underfunded and if your IQD came back it would make things worse.

The current IQD will never be officially traded outside of iRAQ , AND  GOI  wants to keep it that way. 

The Iraqi's see the dinar traded  on the internet and Ebay .  If they made it a tradeable  currency even if they do not increase  the rate it will circulate back into the country  and depress the actual value.    They would rather you kept it.

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3 hours ago, rockfl9 said:

SOOOO.   If the IQD goes  to a dollar ,  you would hold out for $3.65 ???   To get to a dollar that would be a 10,000 times increase , after that another 3X  wouldn't be hard ... But no one  can explain how it can get to one penny !!!!   And even if the CBI should decree the dinar is  equal to a penny , in Iraq.  NOBODY outside of Iraq would pay a penny.....A penny is real money anywhere in the world.  A dinar really isnt worth the .00086  they are using in their budget , but that serves their purpose.  The  reserves are underfunded and if your IQD came back it would make things worse.

The current IQD will never be officially traded outside of iRAQ , AND  GOI  wants to keep it that way. 

The Iraqi's see the dinar traded  on the internet and Ebay .  If they made it a tradeable  currency even if they do not increase  the rate it will circulate back into the country  and depress the actual value.    They would rather you kept it.

I have always wondered how so much dinar is able to leave the country. But if the CBI gets US dollars in exchange for dinar that is basically out of circulation it makes sense. Better than selling bonds as they dont have to pay any interest .  Just my opinion and Itsnot worth much here.  I know how to make money yanking wire... Ive had no luck in trading currencies. 

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19 hours ago, SocalDinar said:

mI have always wondered how so much dinar is able to leave the country. But if the CBI gets US dollars in exchange for dinar that is basically out of circulation it makes sense. Better than selling bonds as they dont have to pay any interest .  Just my opinion and Itsnot worth much here.  I know how to make money yanking wire... Ive had no luck in trading currencies. 

A lot of dinar was taken out by military and contractors. I did read a report by one early dealer who bribed customs and carried it out as luggage.  How legitimate US banks got it I don't know.  The fact that dealers continue to offer uncirculated suggests that someone in the Iraqi banking system has been supplying  it ! Maybe even the CBI itself.  As you note they don't have to pay interest BUT ALSO they may not intend to redeem it at all. As long as they stay in article VIII they don't have to ! 

Somehow a lot of dinarians believe that if there is a rate increase they will simply go to a bank and the bank will gladly buy it .  The truth is that banks don't just buy currency and hold it waiting for a customer to take it .. They need to have a customer request it FIRST . There would have to be a DEMAND.   IF it does get a rate increase why would anyone want to buy it and wait another 10 years for the next one. 

As far as your luck with currency don't feel bad.  In my first investments class I remember very clearly the instructor saying that currency and commodity  investments are best left to professionals. He also advised stick with something  YOU know.

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2 hours ago, rockfl9 said:

He also advised stick with something  YOU know.

Thats sound advice Rock.. I keep busy with my electrical contracting business. This year has been the best in over 8 years. My company did a death spiral in 2008 thru 2016 but we survived. To much uncertainty during those years. I do mostly commercial and light industrial work. 

Businesses are spending money. Its actually hard finding help these days. Everyone is working.

 

Smartest thing I ever did was buy property when I was younger. Values have risen quite a bit here in SoCal But it was scary knowing i would have to make these mortgage payments but i had to try Glad i did.

 

But sometimes you got to take a chance ...It's scary but you gotta go for it.  I actually have a second business. I invented and patented a part for travel trailers and toyhaulers. I fabricated one for myself and my friends wanted one too. So I took a leap and its worked out. It was a money pit for several years. Lawers, lab testing etc...

I actually emailed Breitling ( A dinar Guru )years ago. He spent an entire show talking about it and actually gave some sound advice... Crazy but true.  Made it in all the Camping World stores nationwide until i pulled it from their stores.

The huge chain stores suck you in and then start taking discounts for almost everything i was only making about $10.00 a unit.. It was a great day when i told their VP that i was not going to sell to them anymore. LOL. wish i could have seen his face.   I now primarily sell on Amazon and make just under $50.00 the volume is only about half of CW but that also means half the work for over twice the profit. I run it out of my garage. Just wish I could have had it made in the USA.  I have them made in China. Still not sure how much of the tariff i'm going to pass on to my customers.

Great supplemental income. 

 

Anyway the point i'm trying to make is that sometimes you just got to go for it! Even if you fail you just get back up and try again.

 

My gold mining is just a hobby and I'm happy when i break even. And if it does not pan out and pay for my gas and supplies it still beats working.

 

Have a great day!

Edited by SocalDinar
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1 hour ago, SocalDinar said:

Thats sound advice Rock.. I keep busy with my electrical contracting business. This year has been the best in over 8 years. My company did a death spiral in 2008 thru 2016 but we survived. To much uncertainty during those years. I do mostly commercial and light industrial work. 

Businesses are spending money. Its actually hard finding help these days. Everyone is working.

 

Smartest thing I ever did was buy property when I was younger. Values have risen quite a bit here in SoCal But it was scary knowing i would have to make these mortgage payments but i had to try Glad i did.

 

But sometimes you got to take a chance ...It's scary but you gotta go for it.  I actually have a second business. I invented and patented a part for travel trailers and toyhaulers. I fabricated one for myself and my friends wanted one too. So I took a leap and its worked out. It was a money pit for several years. Lawers, lab testing etc...

I actually emailed Breitling ( A dinar Guru )years ago. He spent an entire show talking about it and actually gave some sound advice... Crazy but true.  Made it in all the Camping World stores nationwide until i pulled it from their stores.

The huge chain stores suck you in and then start taking discounts for almost everything i was only making about $10.00 a unit.. It was a great day when i told their VP that i was not going to sell to them anymore. LOL. wish i could have seen his face.   I now primarily sell on Amazon and make just under $50.00 the volume is only about half of CW but that also means half the work for over twice the profit. I run it out of my garage. Just wish I could have had it made in the USA.  I have them made in China. Still not sure how much of the tariff i'm going to pass on to my customers.

Great supplemental income. 

 

Anyway the point i'm trying to make is that sometimes you just got to go for it! Even if you fail you just get back up and try again.

 

My gold mining is just a hobby and I'm happy when i break even. And if it does not pan out and pay for my gas and supplies it still beats working.

 

Have a great day!

More people should be more like you.  Get over the fear,  make a plan and go for it.  You'll never exceed if you don't try.  Inspiring good sir!

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20 hours ago, SocalDinar said:

Thats sound advice Rock.. I keep busy with my electrical contracting business. This year has been the best in over 8 years. My company did a death spiral in 2008 thru 2016 but we survived. To much uncertainty during those years. I do mostly commercial and light industrial work. 

Businesses are spending money. Its actually hard finding help these days. Everyone is working.

 

Smartest thing I ever did was buy property when I was younger. Values have risen quite a bit here in SoCal But it was scary knowing i would have to make these mortgage payments but i had to try Glad i did.

 

But sometimes you got to take a chance ...It's scary but you gotta go for it.  I actually have a second business. I invented and patented a part for travel trailers and toyhaulers. I fabricated one for myself and my friends wanted one too. So I took a leap and its worked out. It was a money pit for several years. Lawers, lab testing etc...

I actually emailed Breitling ( A dinar Guru )years ago. He spent an entire show talking about it and actually gave some sound advice... Crazy but true.  Made it in all the Camping World stores nationwide until i pulled it from their stores.

The huge chain stores suck you in and then start taking discounts for almost everything i was only making about $10.00 a unit.. It was a great day when i told their VP that i was not going to sell to them anymore. LOL. wish i could have seen his face.   I now primarily sell on Amazon and make just under $50.00 the volume is only about half of CW but that also means half the work for over twice the profit. I run it out of my garage. Just wish I could have had it made in the USA.  I have them made in China. Still not sure how much of the tariff i'm going to pass on to my customers.

Great supplemental income. 

 

Anyway the point i'm trying to make is that sometimes you just got to go for it! Even if you fail you just get back up and try again.

 

My gold mining is just a hobby and I'm happy when i break even. And if it does not pan out and pay for my gas and supplies it still beats working.

 

Have a great day!

Sitting on one's thumb is enjoyment for some......not so much for me. No guarantee's on anything in life unless ur a "guru' or a LOPster" who seem to have the inside track on everything.....at least that's how they present it:lol:

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On ‎6‎/‎11‎/‎2019 at 7:57 PM, cranman said:

More people should be more like you.  Get over the fear,  make a plan and go for it.  You'll never exceed if you don't try.  Inspiring good sir!

The point Cranman  , is that SD is building his contracting business and putting his excess capital to work in real estate , this is what he knows for sure.. He did stray into the dinar camp but eventually he cashed-in because he realized it was an area that he did not know .  That is the moral in his story.   The lesson is  educate yourself before you invest.  You cant plan a thing like a profit in a currency . You just put up hard cash and wait.   If you guess wrong  , you loose.

When a central bank changes an exchange rate it affects everything valued in its currency,  so to be a responsible bank it will act very carefully and SLOWLY.    A percent or less at a time.  Of course if you knew that there could not be a 1000 times increase overnight (  i.e. tomorrow ) you would not have been interested in the dinar.  But the hot tip you got  was too tempting !  So here you are 10 years and no RV/RI and the best you can hope for is 70% return.

 

 

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On ‎6‎/‎12‎/‎2019 at 2:30 PM, caz1104 said:

Sitting on one's thumb is enjoyment for some......not so much for me. No guarantee's on anything in life unless ur a "guru' or a LOPster" who seem to have the inside track on everything.....at least that's how they present it:lol:

Death and taxes .  

Also sign on wall . " There will not be an RV tomorrow  "  .  Come back in 2 days and read the sign again.

At least you are willing to agree that there is NO guarantee of a RV/RI ..  Got to give you credit for that !

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On 6/12/2019 at 5:44 AM, rockfl9 said:

A lot of dinar was taken out by military and contractors. I did read a report by one early dealer who bribed customs and carried it out as luggage.  How legitimate US banks got it I don't know.  The fact that dealers continue to offer uncirculated suggests that someone in the Iraqi banking system has been supplying  it ! Maybe even the CBI itself.  As you note they don't have to pay interest BUT ALSO they may not intend to redeem it at all. As long as they stay in article VIII they don't have to ! 

Somehow a lot of dinarians believe that if there is a rate increase they will simply go to a bank and the bank will gladly buy it .  The truth is that banks don't just buy currency and hold it waiting for a customer to take it .. They need to have a customer request it FIRST . There would have to be a DEMAND.   IF it does get a rate increase why would anyone want to buy it and wait another 10 years for the next one. 

As far as your luck with currency don't feel bad.  In my first investments class I remember very clearly the instructor saying that currency and commodity  investments are best left to professionals. He also advised stick with something  YOU know.

 

Seriosuly..sooooo wrong ...you need to learn more about banks and currency reserves...

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1 hour ago, screwball said:

 

Seriosuly..sooooo wrong ...you need to learn more about banks and currency reserves...

I don't know what you mean by "currency reserves".  There are reserve currencies (principally the USD the Euro and a bit of a few others, maybe more of those others going forward) which central banks with pegged currencies use as assets to cover the liability of their money supply.    Thus the rate set by such a central bank is roughly limited by the ratio of their foreign reserves to their country's money supply.  That is why the RV is not possible. If Iraq where to RV to say 10 cents the foreign reserves would be drained in an instance and the economy would collapse.  So we know for sure an RV is not possible.  A LOP is possible but whether or not Iraq will do so (i.e. redenominate) is anyone's guess.  

Any other entity doing IQD/USD exchanges uses a rate that is tethered to the peg so to speak, since they will only buy IQD (if they do so at all) for something close to what they know they can get for them.

 

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16 hours ago, screwball said:

 

Seriosuly..sooooo wrong ...you need to learn more about banks and currency reserves...

Could you elaborate on where you think I am wrong !  I do have experience on the bookkeeping side of US commercial banks and am getting up to speed on central banks .. The big difference of course is that  a central bank cant run out of money because it can print it.

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