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papajack RUMOR


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No crack pipes here! Gotta tell ya Scotty, they can afford it and then some. Several of the economists on here have beat this up left and right and virtually all of them have stated they cannot only afford a re-institution, but even more if warranted. That's just from compiling the data that they know about. You add in the buried gold that they're still locating, the unexplored Al Anbar Province which I'm feeling pretty positive about having more reserves than they ever realized (Literally an Ocean of Oil underneath that part of the desert) As BMW pointed out the natural gas which I believe is now the most in the world to be exported as well. All the monies owed by other countries and frozen asset's yet to be released by other countries back to Iraq after the Chapter 7 is lifted. It's been said by people who have been involved in it, that even Kuwait went up to 9.00 bucks, dropped to 7.00 bucks and even now sits at 3.53, decades after it's revaluation. 93% of Iraq's export will be oil for the time being. Before I left agriculture was exploding, they are one of the largest Date exporters in the world, and Lord knows what else...cement, bricks, etc etc.

A bit more research would definitely enhance your belief's.

V

I don't disagree that the reserves are there of oil, natural gas, sulphur, gold, etc. My concern is that the infrastructure to remove and transport these natural resources are not in place, and could take years to construct. If they could construct them this year, then I could see a high exchange rate, and I support the notion of a high exchange rate ($4-$7 plus) eventually. I would not be invested if I didn't. I just do not see justification for it now or in the near future. But that is just my opinion. My dad used to say that opinions are like askholes, everyone has one. If I really knew what I was talking about, I would already be rich.

Even a "potential" asset is worth way more than the dollar, which isn't worth the paper it's printed on...

That is very true. And, we value our money based on "our word" I guess. We sure don't have any assets to speak of, only massive debt. I guess based on that theory, the Dinar could RV at $25 or more. I suppose I should do some research on "Fiat Currencies". Thanks for pointing me in that direction

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I don't disagree that the reserves are there of oil, natural gas, sulphur, gold, etc. My concern is that the infrastructure to remove and transport these natural resources are not in place, and could take years to construct. If they could construct them this year, then I could see a high exchange rate, and I support the notion of a high exchange rate ($4-$7 plus) eventually. I would not be invested if I didn't. I just do not see justification for it now or in the near future. But that is just my opinion. My dad used to say that opinions are like askholes, everyone has one. If I really knew what I was talking about, I would already be rich.

That is very true. And, we value our money based on "our word" I guess. We sure don't have any assets to speak of, only massive debt. I guess based on that theory, the Dinar could RV at $25 or more. I suppose I should do some research on "Fiat Currencies". Thanks for pointing me in that direction

First, the world is ready to pounce on these resources, that's why there are billion dollar companies signing contracts to get in and build, all the while signing these contracts at currency rates that aren't even realized yet. Governments do stupid things with money, but a private company takes these decisions alot more seriously. If they are signing contracts in good faith, I think we can be confident a big RV will come.

Second, keep a bottle of Pepto next to you when you research FIAT currencies....you'll need it.... :blink::o:D;)

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Realizing I'm surrounded by folks that know computers and the lingo, what the heck is a FIAT? (beside a car that is :) ) Okay now all you smug ones, start your ridicule and I'll wait for the secure folks to help me out. :P

Edited by JugDawg1
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Realizing I'm surrounded by folks that know computers and the lingo, what the heck is a FIAT? (beside a car that is :) ) Okay now all you smug ones, start your ridicule and I'll wait for the secure folks to help me out. :P

Fiat money

From Wikipedia, the free encyclopedia

The term fiat money is used to mean:

any money declared by a government to be legal tender.[1]

state-issued money which is neither legally convertible to any other thing, nor fixed in value in terms of any objective standard.[2]

money without intrinsic value.[3]

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Fiat money

From Wikipedia, the free encyclopedia

The term fiat money is used to mean:

any money declared by a government to be legal tender.[1]

state-issued money which is neither legally convertible to any other thing, nor fixed in value in terms of any objective standard.[2]

money without intrinsic value.[3]

Gracias me amigo. Appreciate the help. (I can't even cut and paste :lol: )

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Hell, I thought this was the "Rumor", but apparently, there are a lot of people that are taking Scotty1967 a little too seriously. Is his 'opinion' at $.33 so much different from someone else stating $1.17 or $3.20 or like I read yesterday, $5.18? Geeze people, give the guy a break. Kudos to you Scotty1967, you seem to be taking the bashing very very well. One more thing, just becuase someone's "joined date" is recent does not mean that he/she is new. Take the post above mine from 'apilot'. apilot said that he/she has been reading about this for the past year and a half, but has a 'joined date' of Oct 2009, so although apilot was a "newbie" in Oct 2009, he/she really wasn't new to the Dinar. Not everyone on here will give exact and accurate information, that's why it's a Rumor section. Like others on here, I've been in Iraq since 2004 and I've been holding my Dinar since then, but I do not follow all the topics and research for information often. Why? because when it does RV, there will be so many people quitting and leaving Iraq, it will be evident that it happened. I leave all the "technicals" to the more finacial educated people to handle, so in the case of the RV, consider me a sheep and lead the way. Personnaly, I'll cash in everything i have at $.10 and anything higher is just more of a blessing to me.

I second that!!

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I guess people cant handle the real world...They give me a minus for common sense...Where would you EVER even think the Dinar would be over a dollar...There is no way,Change the brillow in that stem dude.

Source please?

You can't predict anything you have no control over ~ Donald Trump

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... (snipped)

Second, keep a bottle of Pepto next to you when you research FIAT currencies....you'll need it.... :blink::o:D;)

That's for sure SoldierOfIndependence!! After I read 'The Creature Form Jekyll Island' the first time I was literally stunned for weeks until I could start to get my mind wrapped around what the 'financial system' today is really built upon. And when I talk to people about it now, 15 years later, I still get amazed that so few people get it, or even give a rat's butt. That one baffles the heck out of me when people state something like, "Oh, I don't care about all that stuff." My only response now is, "Well, you better. Because if you don't you will pay dearly."

Peace my friend ....

BMWman

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That's for sure SoldierOfIndependence!! After I read 'The Creature Form Jekyll Island' the first time I was literally stunned for weeks until I could start to get my mind wrapped around what the 'financial system' today is really built upon. And when I talk to people about it now, 15 years later, I still get amazed that so few people get it, or even give a rat's butt. That one baffles the heck out of me when people state something like, "Oh, I don't care about all that stuff." My only response now is, "Well, you better. Because if you don't you will pay dearly."

Peace my friend ....

BMWman

The Jekyll Island story is definitely a wake-up call; however, I'm not that sure that many people are even aware of it.

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The Jekyll Island story is definitely a wake-up call; however, I'm not that sure that many people are even aware of it.

Solutions,

Exactly. But when I start talking to people about the financial system their eyes get glazed over and they get a dumb look on their face. They don't understand at all. And worse, they don't want to know (vast majority). And I'm referring to just simple stuff about the system. Ignorance can be fixed. But as Ron White says, "You can't fix stupid!"

I guess I simply don't understand those who want to stay in the dark instead of coming to the light.

Also, when they hear it's about 400 pages that usually seals the deal on them never wanting to pick it up to read!

BMWman

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Solutions,

Exactly. But when I start talking to people about the financial system their eyes get glazed over and they get a dumb look on their face. They don't understand at all. And worse, they don't want to know (vast majority). And I'm referring to just simple stuff about the system. Ignorance can be fixed. But as Ron White says, "You can't fix stupid!"

I guess I simply don't understand those who want to stay in the dark instead of coming to the light.

Also, when they hear it's about 400 pages that usually seals the deal on them never wanting to pick it up to read!

BMWman

You are absolutely right! You can't fix stupid! :blink: But when this rolls in, we'll be able to afford to fix ugly if we have to. :P:P

A little nip here, a little tuck there and....... aw crap, I'm still ugly! WAH HAPPENED? :D

Edited by JugDawg1
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First, the world is ready to pounce on these resources, that's why there are billion dollar companies signing contracts to get in and build, all the while signing these contracts at currency rates that aren't even realized yet. Governments do stupid things with money, but a private company takes these decisions alot more seriously. If they are signing contracts in good faith, I think we can be confident a big RV will come.

Second, keep a bottle of Pepto next to you when you research FIAT currencies....you'll need it.... blink.gifohmy.gifbiggrin.gifwink.gif

Thanks for the advice about the Pepto. I'll do that.

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Thanks for the advice about the Pepto. I'll do that.

I just have one question, and I think I already know the answer, but, is the U.S. Dollar considered a "Fiat Currency"? Because if it is, then I need more than Pepto, I need Nexium just to think what the implications of that are.

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I don't disagree that the reserves are there of oil, natural gas, sulphur, gold, etc. My concern is that the infrastructure to remove and transport these natural resources are not in place, and could take years to construct. If they could construct them this year, then I could see a high exchange rate, and I support the notion of a high exchange rate ($4-$7 plus) eventually. I would not be invested if I didn't. I just do not see justification for it now or in the near future. But that is just my opinion. My dad used to say that opinions are like askholes, everyone has one. If I really knew what I was talking about, I would already be rich.

That is very true. And, we value our money based on "our word" I guess. We sure don't have any assets to speak of, only massive debt. I guess based on that theory, the Dinar could RV at $25 or more. I suppose I should do some research on "Fiat Currencies". Thanks for pointing me in that direction

Yes, everybody has one and most of em stink...lol. Thing is you have to remember they just ordered 66 tankers months ago, and the Chinese and Russians have been working the oil wells, fields and pipelines since May? They've already doubled output from the Kirkuk region, things are happening much faster on the ground then we realize. I think we're on track, they can't wait for everything to be perfect, the sooner the get the ball rolling the sooner perpetual motion will take over and everything will fall into place in my opinion. Nothing happens if you do nothing. They have been busy, so IMO I honestly feel everything is in place, just waiting on the right trigger event................seating the GOI.

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Ok well if im wrong then I will be pleasently surprised IMO I dont think I will be above .33 and that is the high number Im working with.If I thought it was comming in at 3.00 I wouldnt have bought so much.I do hope im wrong, There is no need to bash me I just dont think I would make a million off this but as you tell me I will have 120 million I guess I will cry all the way to the bank eather way I just hope it doesnt lop

I agree with you Scotty1967 These people are delusional and want something for nothing. Even at .10 we would clearly become the winner. It sure wouldn't make sense to bankrupt the Country before they even got started. I would be really surprised if they were to go over .50 but then there are those pie in the sky people whom think they are gifted with extra ordinary perception. I would be ecstatic if it reached over 1 USD. But I'm not getting my hopes up just to be let down when it does RV. My god you people are such dreamers. Come back to Earth. JMO. Have a great day.

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I just have one question, and I think I already know the answer, but, is the U.S. Dollar considered a "Fiat Currency"? Because if it is, then I need more than Pepto, I need Nexium just to think what the implications of that are.

gman51,

Yes, the USD is a fiat currency. In fact, every currency in the world is currently a fiat currency. The last currency that was, IMO, a real currency was the Swiss Franc. But it was 'disconnected' from gold back in 2002.

fi·at (fēˈət, -ătˌ, -ätˌ, fīˈătˌ, -ət)

noun

1. An arbitrary order or decree.

2. Authorization or sanction: government fiat.

Origin: Medieval Latin, from Latin, let it be done, third person sing. present subjunctive of fierī, to become, to be done; see bheuə- in Indo-European roots.

So, fiat currency simply means a currency is decreed to be worth something by the bank/government. There is actually no physical money backing the currency. My definition of money comes from the Word. God clearly states that gold, silver and copper are money. Has been since the dawn of time. If you can not convert a currency to one of these three monies, then I would consider it fiat. Gold, silver and copper are storehouses of value. The US used to have silver certificates for currency. You could take your $10 silver certificate to the bank and exchange it for silver. Now we have Federal Reserve Notes (FRN's).

note (nōt)

noun

... (snipped)

7.

a. a written promise to pay a sum of money or a written acknowledgment of a debt from which a promise of payment can be inferred

b. a piece of paper currency: a Federal Reserve note

So, a FRN is an evidence of debt, not a storehouse of value like a silver certificate. Exact opposites of each other.

I will leave it there for now. I would highly recommend 'The Creature From Jekyll Island' by G. Edward Griffin. It is a great read. There are others but this is easy to find and, IMO, is a very easy read.

And yes, the implications are .... well, scary.

Happy reading!

BMWman

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gman51,

Yes, the USD is a fiat currency. In fact, every currency in the world is currently a fiat currency. The last currency that was, IMO, a real currency was the Swiss Franc. But it was 'disconnected' from gold back in 2002.

fi·at (fēˈət, -ătˌ, -ätˌ, fīˈătˌ, -ət)

noun

1. An arbitrary order or decree.

2. Authorization or sanction: government fiat.

Origin: Medieval Latin, from Latin, let it be done, third person sing. present subjunctive of fierī, to become, to be done; see bheuə- in Indo-European roots.

So, fiat currency simply means a currency is decreed to be worth something by the bank/government. There is actually no physical money backing the currency. My definition of money comes from the Word. God clearly states that gold, silver and copper are money. Has been since the dawn of time. If you can not convert a currency to one of these three monies, then I would consider it fiat. Gold, silver and copper are storehouses of value. The US used to have silver certificates for currency. You could take your $10 silver certificate to the bank and exchange it for silver. Now we have Federal Reserve Notes (FRN's).

note (nōt)

noun

... (snipped)

7.

a. a written promise to pay a sum of money or a written acknowledgment of a debt from which a promise of payment can be inferred

b. a piece of paper currency: a Federal Reserve note

So, a FRN is an evidence of debt, not a storehouse of value like a silver certificate. Exact opposites of each other.

I will leave it there for now. I would highly recommend 'The Creature From Jekyll Island' by G. Edward Griffin. It is a great read. There are others but this is easy to find and, IMO, is a very easy read.

And yes, the implications are .... well, scary.

Happy reading!

BMWman

Excellent assessment, my Bavarian Motorworks friend! And thus, the house of cards temporarily stands.... :unsure:

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