WDMCB POST - Dinar Speculation 1/24/10 @ 5:05am

[k98nights]

Speaking on speculation: Yesterday, I had a meeting with a VP-Investments at Chase/JPMorgan who said that Iraq is in such debt, thanks to Hussein, that they don

[miamistud62]

so this guys is saying they dont have enought money to pay everyone the 3.86 rate so were lucky to get a 1to 1 ratio

[Muhammad]

How about the sales of oil exports in return to clear all those heavy debts in the near future?

[sly]

How can they be in so much debt, when all the countries have forgiven there debt!!!!!!!!!!!!!

[kkjk]

sounds like this guy hasn't visited dinarvets, debt is being forgiven. I think 80% so far!

[mervin]

First off Banks hand out VP titles like candy on Halloween. A VP title at a bank says nothing about your knowledge or experience. Yes debt is being forgiven every day. Mexico does not have the natural resource reserves of Iraq. Can you name a financially poor oil rich nation? The countries that hold dinar will be exchanging for oil most likely so again it is not a cash related issue. These countries that hold iraqi dinar do have a vested interest in making sure Iraq does well financially. They also probably have agreements on how and when they can exchange. Remember the IMF and UN have been involved in this.

I think your banker may not be well informed.

[The Watcher]

Very Interesting. If I understand it correctly, except for Kuwait, Iraq is virtually debt free. The little investors like us may be left holding an empty bag and the dinar truly becomes wallpaper, who knows. Iraq couldn't care less about us. I wonder if Iraq cares about the USA and GB and the money and blood we spent setting these people free. You can bet the US, GB, and the remainder of the coalition countries that hold a ton of their money will have something to say about a new currency. How could a country ever hope to get away with a scheme like what the banker is saying. It may happen, but if it does, Iraq will either be annexed by the USA and cease to exist, or otherwise wiped off the map and become just a hole in the world.

[Soldier]

thanks for posting I brought to the chatroom and hot hammered for. Its post like these that we are seeing almost everyday that offset the good thats coming out of Iraq. It it RV's I'll take my money to a different bank. Thanks for the post.

[nellie]

You've offically have made the full of S*** list, you really didn't post this !

[sarah77]

Really this vp has his opinion and yhat is alll thet it is , opinion and i would not even tell anybody his opinion to begin with

[Butifldrm]

Speaking on speculation: Yesterday, I had a meeting with a VP-Investments at Chase/JPMorgan who said that Iraq is in such debt, thanks to Hussein, that they don’t have the money to support an exchange…and before they let the US capitalize on their Dinar, in all probability, they will come out with a NEW currency, provide time to exchange, reduce it’s value and make it hard for us to turn in our Dinar’s. He said that if it does become 1 dinar = $1.00 US, DON’T expect a 1 to 1 exchange. That I will be must fortune to get back what I paid for the Dinar. He said, Iraq just doesn’t have the billions that will be needed to honor an RV. And that the elections will have no effect on the amount set or the policy that will be imposed for an exchange.

This is not encouraging, to say the least, but it is interesting to note the opinion of a US Banker. He said that the Iraq Dinar will take the same route as the Mexican Peso. Notwithstanding, I’m still optimistic that we will come out of all of this mess with some gain… maybe not as much as we had hoped for, but enough to show for our patience and endurance.

Did he offer to buy your Dinar?

[joe-dinar]

It does not sound like I would want anything to do with these investors if this is their mentality and opinion of how Iraq will RV its currency.

[DgreenFSU66]

I'm calling Bull$@&!, once again, disinformation, got to keep the masses poor.

[jo-jack]

chase is stupid and they don't fill in their employees on whats going on, so they're all dumb.

[gwright]

why even post this...I'm sure there is debt but as to who and why we don't know..some of there debts or most so I hear have been forgiven..so how much bs has to be spread...I have never sworn in here but couldn't help it

[DgreenFSU66]

Sounds like that VP wants you to invest your money with them instead of buying Dinar. I dont put any stock in what he is saying, doesnt pass the common sense test for me.

[pirate]

this vp guy know's nothing ....just flapping his mouth to hear himself talk...

[mariejose]

these people at chase bank have no

Clue whatsoever!!! Where I live the chase bank thinks we are still at war with Iraq!!! It's down right irritating.

[tbush]

this guy is talking out of his a$$ I don't care who he is...

[Selkirk77]

If the VP Chase story (rumor or whatever) is legit. Then true to character do not trust bankers with knowing or expousing the truth; like I've said before they are the same ilk of most lawyers, politicians, & doctors. USELESS!!!!!!!!!!!!

Selkirk..

[Muspublisher]

Yeah, I'm not sure that guy understands what is going on at all. First of all, monetary exchange is an exchange on a 1/1 ratio... ALWAYS. No one gives a dollar for .50 cents worth. We happened to purchase Dinar when the 1/1 exchange was virtually valueless. When an RV occurs the value of what is exchanged goes up, but the exchange itself remains a 1/1 proposition. Iraq isn't going to lose money on any exchange no matter what the value of their currency is. Heck, you could even extrapolate the money Iraq would be getting back using the model for central banking mechanics; in that, for every dollar in a bank, a bank can loan out roughly 9 times that number. So if Iraq gets millions of it's own money back from us when we exchange, Iraq can, and will, turn around and put it into their central bank and loan 9 times what it got back. Add interest made from "new money", and you can see how this "banker" either doesn't understand what he's talking about, or doesn't understand the nature of central banking. Secondly, as has been mentioned, roughly 80% of all Iraqi debt has been forgiven so his assumption that Iraqi debt is too insurmountable is categorically wrong. Third, to compare Mexico to Iraq is absolutely absurd on every level and doesn't really even merit further explanation.

Edited January 25, 2010 by Muspublisher
typo

[gwright]

amen Muspublisher...I wonder if at times people don't just post this type of thing to create problems...lacking the attention somehow they feel they deserve...or need to feel good about themselves...how sad.

[NFL]

Sorry but that vp is ust plain stupid, cluless, and thats a fact jack

[Kingdomfunding]

How ironic that our own bankers are so "knowledgeable" of how to rip people off (no surprise! LOL) when

IMO, a fledgling Democracy like Iraq seems to be struggling to do things right. Doesn't make our bankers

look real credible, huh?

[stephen]

there is so many rumors out there that are all wrong how can anyone say this one or any of them are true or not.