Real Dinar Update

[kjwayne]

Makes alot of sence and also fits in with all the other info that is in the forefront. GO RV! nICE JOB ,MAN!!

[caleb08]

I enjoyed reading your post. Thank you.

[vantrelgo]

Thanks for the info BanG - really informative!

[ChuckFinley]

BanG - Thanks for the great work, I always look for your input. My son is at RU and invested too. Sounds like a RV party in the tri state area. Stay thristy my good friend.

[genx4me]

BanG - Thanks so much for the post, very elightening and makes a lot of sense. Thank you for your time and effort. Super job of condensing the issues, I for one, appreciate the effort.

I second that. Thanks for the time and effort! Much appreciated.

[drox]

Bang...

Thanks for the post. You are a good guy and I am sure your friend Juni is as well. I respectfully disagree with much of it though and think it if full of conjecture. But then again... isn't everything we say? It is not my intent to attack anyone. I just want to make an argument against it is all. Just a couple of quick points:

1. I believe the constitution was approved in October of 2005. Considerably past the time the currency was created 2003/2004 time frame. If the Kurds had that much influence on the lower denominations then why not just print them on the big denominations too? At a cost of 7 cents a bill to create that makes no sense whatsoever. I would suggest that no lower denominations were ever created.

If they were created what on Earth would be the purpose? To collect the larger notes and demolish them? How does that solve anything? How does that facilitate the "ease of transactions" as stated in multiple 3 zero articles? It makes people carry huge amounts of cash everywhere. If things were a little more electronic I would understand. As it stands, only about 20% of Iraqis have bank accounts though. With 27 trillion Dinar (minimum) in circulation how much currency are you going to destroy? When the exchange rate was around $3 there was 25 Billion with a "B"! You gonna destroy 99% of the currency to get to those levels to support a $3 RV? Who pays for that debt from the destruction? The currency may be destroyed but the debt established when it was created still exists and lingers around. Anytime a new currency is created it is backed by debt. Money = debt and debt = money.

I call the lower denom theory the "Ghost fils". I believe it started as an idea and grew into an assumed truth. Really, it was some ding dong guru that kept getting all of his theories crunched every time a 3 zero article came out. So... he pushed this nonsense onto the masses and it stuck.

2. Shabs does have the power to move the exchange rate but he must run it through Parliament first.

3. The IMF has a gigantic role in the exchange rate. They are protecting Iraq and the world trade partners. With Iraq agreeing to membership and taking out loans through the IMF they are closely supervised. The IMF doesn't necessarily dictate but can. If Iraq requested the IMF give them permission to put an exchange rate of $3 they would laugh in their face. What no one wants to hear and I have been pounding away for a year is.... that Iraq must be able to have a stable economy to sustain a higher revaluation. The import/export ratio's alone would be off the chart and there would be an enormous trade imbalance regarding currency exchange between nations. Iraq would also import every single good except for oil/gas. It would be extremely cheap to do so. They would have no need to establish other industry. Thus, their economy, of which their GDP is 90% oil, will always be at the mercy of oil prices. Nothing to diversify it with. Please no one bring up those titans of industry in sulpher, dates, and water either.

Too much to comment on. I will let it go at that. Hope all is well.

[kinglizzy99]

BanG and Junitman,

Well done...many good nuggets of evidence-based intel...the way information sharing should be!

[blue horseshoe]

Hey BanG - in the top part of the article you brough over, it mentioned the IMF was to receive a letter from CBI about confirming the value of the RV. The article stated this was done. My question is - can we find out if this letter was sent to the IMF, when it was sent, and if the IMF replied to it? How can one find out about this?.. Great article. Blue horseshoe

[graml]

BanG, Nice post.

[Del Norte]

Bottom line there is to many Trillions of Dinar in circulation to RV. That is the hold up NUFF SAID!

[GPCarter]

Regarding point #2, If the RV came in at a low rate wouldn't it hurt Iraq in the long run? Wouldn't it attract more speculators? There are a lot of those who don't believe in the RV but once they see it happen they would all surely come running and start purchasing dinar if the rate came out too low. Even at $1 it would surely attract speculators. With all the contracts, oil reserves and other things that will surely increase the value of their currency in the long run people would surely start purchasing dinar. Seems if the RV was around 3 it would cut out most speculators. JMO

[Roadrunner]

Bang

Every once in a while I read a post that reminds me just how little I actually know. This was very informative and I hope you are right.

Thanks for the work you put into this.

[gman51]

Bang...

Thanks for the post. You are a good guy and I am sure your friend Juni is as well. I respectfully disagree with much of it though and think it if full of conjecture. But then again... isn't everything we say? It is not my intent to attack anyone. I just want to make an argument against it is all. Just a couple of quick points:

1. I believe the constitution was approved in October of 2005. Considerably past the time the currency was created 2003/2004 time frame. If the Kurds had that much influence on the lower denominations then why not just print them on the big denominations too? At a cost of 7 cents a bill to create that makes no sense whatsoever. I would suggest that no lower denominations were ever created.

If they were created what on Earth would be the purpose? To collect the larger notes and demolish them? How does that solve anything? How does that facilitate the "ease of transactions" as stated in multiple 3 zero articles? It makes people carry huge amounts of cash everywhere. If things were a little more electronic I would understand. As it stands, only about 20% of Iraqis have bank accounts though. With 27 trillion Dinar (minimum) in circulation how much currency are you going to destroy? When the exchange rate was around $3 there was 25 Billion with a "B"! You gonna destroy 99% of the currency to get to those levels to support a $3 RV? Who pays for that debt from the destruction? The currency may be destroyed but the debt established when it was created still exists and lingers around. Anytime a new currency is created it is backed by debt. Money = debt and debt = money.

I call the lower denom theory the "Ghost fils". I believe it started as an idea and grew into an assumed truth. Really, it was some ding dong guru that kept getting all of his theories crunched every time a 3 zero article came out. So... he pushed this nonsense onto the masses and it stuck.

2. Shabs does have the power to move the exchange rate but he must run it through Parliament first.

3. The IMF has a gigantic role in the exchange rate. They are protecting Iraq and the world trade partners. With Iraq agreeing to membership and taking out loans through the IMF they are closely supervised. The IMF doesn't necessarily dictate but can. If Iraq requested the IMF give them permission to put an exchange rate of $3 they would laugh in their face. What no one wants to hear and I have been pounding away for a year is.... that Iraq must be able to have a stable economy to sustain a higher revaluation. The import/export ratio's alone would be off the chart and there would be an enormous trade imbalance regarding currency exchange between nations. Iraq would also import every single good except for oil/gas. It would be extremely cheap to do so. They would have no need to establish other industry. Thus, their economy, of which their GDP is 90% oil, will always be at the mercy of oil prices. Nothing to diversify it with. Please no one bring up those titans of industry in sulpher, dates, and water either.

Too much to comment on. I will let it go at that. Hope all is well.

I thought I heard somewhere that Iraq used to be called "The Breadbasket of the Middle East", because of their enormous exports of fruits and vegetables? And why not bring up the industry of Sulpher, when the truth is they have hoards of it along with Gold, Silver, Platinum. I understand it will take time to put the infrastructure in place before these industries are viable, but that doesn't mean we just count them out. In 5 years, Iraq will be unrecognizeable to all of us. Of course, as I have said many times before, that means a slow increase in value, over time, to the Iraqi Dinar. Works for me either way. God bless all.