From Planet Dinar Rumor Section

[tcat1]

How's this for proof. If the IRD RV to just $1, there are 27 trillion of them in circulation. So that means CBI has to have $27 Trilliion to cover that value. Currently the hard currency reserves of the CB! are about $50 billion. So, just to reval to a dollar, they're missing $26,950 Billion dollars. If you go to the other end of the scale, $6 RV, the number is $162 trillion, which is more money than actually exists on the planet.

In fact, recent changes in how the CBI is run make it more likely that it could run out of money..

http://www.iraq-businessnews.com/2011/01/31/bad-news-for-the-central-bank/

The RV is fairry tale, sold and told to you by the companies selling dinars. If it really was gonna RV any day now, why would ANY of these companies be willing to see ANY of them? If the $6 RV happened tommorrow, a company like Dinar Trade would have enough in the cash drawer to be a G8 country. Quit dreaming, there is no RV coming.

This guy knows nothing of the 100+ billion barrels of oil iraq has PLUS the unexplored oil fields in iraq, nor does he know about how oil is sold in the Futures market with contracts that are paid for UP FRONT

RV may not come,that is legitimate.....but a natural rise in value will occur quickly if nothing else once the Gov is fulyl formed and US is no longer occupying

MA in economics says this is a win for the patient!

(pls point out spelling or grammer MISTAKES/TYPOS to make it seem like im ignorant and to devalue my credibility, like a real basher would)

I won't say anything about your typos, this is an internet forum, not a graded paper. I will point out your lack of any backing information to support your position. I provided a link to an official statement from the CBI that firmly establishes that they have foreign currency reserves of ~$50 billion. It's an incontrovertible fact that whatever the IRD RV to, the CBI will need to have most, if not all of the total amount it revals for, in hard currency, available to redeem any dinars that speculators, investors etc.. would want to convert to dollars or euros etc.. I just want to know where that money is. They have $50 billion and are worried that they may have to recapitalize the bank, so how are you going to get paid if they RV? There isn't enough money in existence to redeem all the dinars issued @ a little less than $3, so can you explain the realistic scenario under which ALL THE WORLD'S WEALTH will suddenly become available to the CBI?

If you got a masters in Econ and can't do the maths to show if they sell every drop of that oil it still leaves them, umm, $17 trillion short, send it back and see if they'll give you a refund.

Iraq export revenue in March was $4.35 billion, so they could, at that level, support a dinar for a dollar with 517 years worth of oil revenue, provided of course that they spent every penny of it on backing their currency, and not bother with things like an elecrical grid that works more than a few days a week, or any infrastructure, expense of government, build roads or anything like that. (source fopr revenue figures)

http://www.jihadwatch.org/2010/05/iraq-oil-exports-in-april-down-43-percent-due-to-jihad-attacks.html

I know, I know, the revenue is down, when they get everything up and no insurgents and such, it would DOUBLE! Fine, so you only have to devote 208 years of eveery penny of revenue to paying off dinar speculators.... Think you can increase the sales so much that you can RV the dinar and not take a few centuries to do it? Well, you'll have to see if the UFO people need gas on their planet, because the total world market in oil is 73 million barrels per day. That the whole planet. That's 26.37 billion barrels a year, or @ 100 a barrel, $2.6 trillion. You could fund that $1 per dinar exchange rate in just 10 years, if Iraq was the only country to produce petroleum for those ten years, notwithstanding that they would run out of oil to sell in as little as 4 years, but even the most optimistic number of their reserves only gives them enough to produce that rate for 8 years. (link to global oil production figures, 1960-2009)

http://www.eia.doe.gov/aer/txt/ptb1105.html

people just don't get the basic concept that for the dinar to revalue, the money has to be somewhere. Oil in the ground? It has to got to $2600 a barrel to support a dollar dinar. When you cash your dinars in, are you gonna accept it in dollars, euros or a barrel of oil. See above for the oil, the waiting line is 500 years. Want it on dollars, the amount the ICB needs is almost twice the entire GDP of the USA, and they have to have it in cash. And that's just for it to be a dollar. Take all this alnd mulitpy by whatever number your guru is quoting today, and find where the money is gonna come from to pay it.

He thinks he was the first turnip off the the truck.Don't tell him any different.

[Josefus]

Isn't this the guy that got booted yesterday?????

[Really enough dollars]

Not my post (Someone posted it on Planet Dinar).... I just didn't quite understand the logic and hoped someone hear could explain

Miny the post you shared is most likely misinformation. I will have to say that the likely hood of the A. RV happening by Monday & B. An exchange rate of $6.00 are both wishful thinking. I do have a close friend who works for the government and we both agree with judge Judy if it sounds to good to be true then it probably is. But also you have to keep in mind what Chuck Schwab says you should diversify your portfolio or as Mama says don't put all your eggs in one basket. :blink:

Not his opinion. He just quoted a post from another Forum.

How do you know that a Newbie doesn't have a masters in ECON.

Well it's your lucky day.

Lets say you have a big bag of marbles in your Central Bank. And a much smaller bag owned by the citizens of Iraq and outside the country of speculators. If you RV the marbles (change them to gold for example) you have more marbles and wealth. So even if they want to trade in all their marbles at once you will be able to cover it. In fact, the the more the marbles are worth the more wealth you will have.

All Iraq has to do is make sure they have a much bigger bag of marbles.

Well put old chap well put.

[RRSport]

Planet Dinar has a rumor section??? That whole site is a rumor section!

Looney section more like over there at PD

[quadraph0nic]

[[How's this for proof. If the IRD RV to just $1, there are 27 trillion of them in circulation. So that means CBI has to have $27 Trilliion to cover that value. Currently the hard currency reserves of the CB! are about $50 billion. So, just to reval to a dollar, they're missing $26,950 Billion dollars. If you go to the other end of the scale, $6 RV, the number is $162 trillion, which is more money than actually exists on the planet.[/color]

I don't claim in any means to know much on currency values, or the Forex Markets and how it all works.......I learn everyday when I read up on this investment.

What I would say is that the US has trillions of dollars in circulation and what do they have in the vaults to back it up?..............That's right, not nearly enough in fact its a drop in the bucket. The CBI may have only 50 billion and with the value of the US dollar going south thats looking worse all the time.....their real value is in the ground.

Yes...I agree with you. This train of thought is something I did when I researched How Iraq could do this. Yes we should take a look at our own US dollar and understand how does that work.

Why couldn't the dinar be the same? We created the NID for them to use!!

Under the present monetary policy Iraq is in, this person arguing about an RV not happening has a lot of facts on his side for now. But something has to change, it has been suggested they could monetize non liquid assets. Perhaps....

But seriously a lot of things don't add up such as the amount of attention and money spent by the U.S. on Iraq. There has to be a benefit to this that is a plus for our own economy or perhaps the real intent is to take down the united states and the rest of the world who depends on the dollar to back their own currency?

Scary thoughts....

Sorry I have to drag conspiracy into this because it is ridiculous to think that we will just keep doing what we are doing in Iraq with no understanding of where we are going. I don't believe that but I can see a lot of times that's what they put out in the media...I believe there is a reason for everything.

Like the whitehouse knowing about bin ladens location for some time....uh huh...its crazy to me with the technology we have today that we couldn't find UBL sooner...but all of a sudden now we find him and kill him. really? and why now? the timing is right? for what?

I hope the IMF allows Iraq to throw out everything including the kitchen sink on the monetary policy and just gives them an approved range they can rv and float around in. ITs all fake anyway. I'll take anything above a penny w/no lop of course. I'm not greedy its all free anyway!!

If it happens like this, I'm gonna enjoy life and look for a secret cave to develop a good shelter in case the end of the world is around the corner!

Smile and grin at the change all around me

Pick up my guitar and play

Just like yesterday

And I'll get on my knees and pray

We don't get fooled again

Don't get fooled again

[jbbdolphins]

That was a waste of your time and my time...even if there is a shadow of doubt this RV could happen, then it is worth waiting for. Let the "powers to be" who will make the decision regarding the RV, worry about how to pay the investors cashing in. If it weren't for the fact that Iraq is going to be one of the richest countries in the world, there would not be a plethora of investors. I know that the original post was not yours...when you post something like that you have to expect negative reactions. However, I give you a plus for having the b____s to writie it.

[zapped777]

Thump...........

Dang it, Passed out again and hit the floor.

When these guys gunna learn about Economics...........

:lol::lol: I'm glad you fell first cause I'm landing right on top of ya!!:lol:

[METEMARLO]

last minute effort to discourage newbie with 12 post all of a sudden he shows up were was he the last 4 to 5 years with this opinion? ok still at your desk job with the iraqi govt . you guys are a little to late the blood is in the water and now and we smell your panic to derail us much much to late now.

[kinglizzy99]

yeah, and I like to carry my entire bank account in my pocket...small mind just tryin to stir the pot...

[AoK]

Just FYI.... This (IF YOU CAN READ) is not my opinion!!!! I didn't say it!!! I simply read it on another site and didn't understand it. I thought MAYBE, JUST MAYBE, the people who posted on this site (who I thought to be brighter minds) could help me understand it better!

Hey guys, let's take a second or 2 and READ...this is NOT Miny's post...he's only asking for explanation...come on there are a lot of bright Dinar Vets on here (not me)

in defense Miny, since I almost mis-read it was yours, you could in the future write in BIG LETTERS explaining a post ISN"T yours...in case you haven't already noticed this is a polarizing topic... just sayin' bro... peace

[tim5400]

Well..does America have reserves of OIL that rivals the middle east....why cant we back our failing currency with that oil....OH THATS RIGHT we cant drill here anymore...time to re-elect some capitalist to run AMERICA

[jlldrs]

Planet Dinar has a rumor section??? That whole site is a rumor section!

Thats funny!

As soon as I see the words Planet Dinar I ALWAYS stop reading.

[DokterJ]

Here is something for thought! I have purchased three homes in the U.S. over the past 20 years. One for $275,000 USD, another one at a later time for $385,000 USD, and another at $425,000 USD. If you add those together they equal $1,085,000.00 USD. In all of those transactions not one dollar bill was passed from my hand to the other parties. All of the money was electronically transferred from one account to another. Not one person or company ever saw the exchange of any currency. On two of those homes the mortgage was purchased by other parties years after the original lenders had loaned us "THE MONEY". Also over the past 35 yrs. I have purchased probably over 25 automobiles. I borrowed money by signing a piece of paper that the car lot took as if it was cash. No currency actually changed hands for me to drive off of the car lot. SO HERE IS MY QUESTION OR THOUGHT FOR YOU! If I can do over a MILLION DOLLARS worth of transactions with no USD CURRENCY actually passing through my hands, all electronically transferred, WHAT MAKES YOU THINK THAT IRAQ HAS TO HAVE THE ACTUALLY CURRENCY IN HAND THAT YOU ARE CLAIMING THEY WILL NEVER POSSESS? If you think that every person who has an Iraqi Dinar in the world is going to try to cash in simultaneously, you are nuts and I don't care if you have a degree in global economy or not! The likely scenario will play out something like this. I will go to the bank and submit my dinar for exchange. The exchange will be done electronically into my account. The actual USD currency that you are talking about them needing will only be electronic transfers, bla bla bla bla!

It may take a while yet, but it will RV. But to make your statements about them needing to possess real currency is a bit much!

Go RV! It might take a while but just be patient it will happen!

[djhemp]

Guys, watch out. These negative guys just want to buy back your dinar cheap. The opposite of pumpers working for dealers. Right now I would buy nor sell any Dinar.. just hold on to what you got. They want it. We probably have 26 trillion of it in the US lol!! Seriously, you don't know how many investors are holding onto Dinar.

[DokterJ]

Sorry Miny, I wasn't directing my words to you! Keep asking and reading! God bless!

[Bumper64]

Everyone need to Play Nice!!!!

This is NOT Miny's Post!!

I gave you a (+1) Miny's !!

[pleasantvalleySunday]

gosh one day and already argumentative

Everyone need to Play Nice!!!!

This is NOT Miny's Post!!

I gave you a (+1) Miny's !!

just a reminder to make reposting CLEAR at the top of the POST not just the title please

[jeepguy]

lets see we froze the accounts of iraq when we rusd in they had a butt load in the swiss and other banking ledgers--------lets as at least 25 billion just for the heck of it . 25 billion frozen still gets intrest paid into the accounts while being frozen,,if at .3 percent is 75 bill ion now multiply 8 years---6 trillion---? andthat is from just a number off the top of head no telling what they really have in each accounts------but if ya want too get right down too it why do we pay into this deal?---------------------------> because we can!! free country and all those numbers are not true numbers just too make a point

[Buckeye Pilot]

lets see we froze the accounts of iraq when we rusd in they had a butt load in the swiss and other banking ledgers--------lets as at least 25 billion just for the heck of it . 25 billion frozen still gets intrest paid into the accounts while being frozen,,if at .3 percent is 75 bill ion now multiply 8 years---6 trillion---? andthat is from just a number off the top of head no telling what they really have in each accounts------but if ya want too get right down too it why do we pay into this deal?---------------------------> because we can!! free country and all those numbers are not true numbers just too make a point

****!!! IM SO SORRY, I WAS TRYING TO GV YOU A + AND HIT THE DAM -

CAN SOMEONE HELP ME OUT HERE PLEASE.

Thank you to the good samaritan with a PLUS to give!!

Barry

Edited May 14, 2011 by Buckeye Pilot

[Vinman33]

****!!! IM SO SORRY, I WAS TRYING TO GV YOU A + AND HIT THE DAM -

CAN SOMEONE HELP ME OUT HERE PLEASE.

Thank you to the good samaritan with a PLUS to give!!

Barry

Added your +1

[Crow]

It's back with their oil.... Good grief get a clue!!! This is a commodity backing their currency!!! Just like the united states backed the dollar with gold back in the day....do you think any country actually has as much money printed to cover their debts!!

Hate the negative posts!! If you don't believe in it, get out!! Leave us suckers here alone!!

[Vinman33]

Think of it like this. When we look at a COMPANY and their financial statements when determining Price-to-Earnings ratio (P/E) and value per share, they always talk about SHARES *OUSTANDING.* That means shares that are in the public domain.

Companies quite typically have a TON more shares AUTHORIZED by their Board of Directors, but have NOT been released for trading. They do this ALL THE TIME. I know, I watched my old company do it more than once (release more authorized shares). They have to be careful when they do this because releasing more shares into the market dillutes the value of the shares already out there. Sometimes when a company releases more authorized shares, they actually have to do it in the form of a "Second Public Offering," as opposed to an Initial Public Offering (IPO). Of course, ANYTIME they want to release more shares, regardless of the method they do it, they have to get SEC approval first.

So, they could have 27T dinar AVAILABLE, but not ALL OF THEM are in circulation. In fact, if you've been paying attention, they've been working to take the larger notes OUT of circulation. . . Now what would that do? Could help raise the value. . . kinda like what the CBI has been saying for months.

People have to get this 27T notes in circulation thing out of their minds, it really doesn't mean a whole lot, because they're not all out in circulation, only a fraction are. THEN (as was well stated earlier), when you add fractional banking into the mix, the whole thing becomes much easier to understand.

Anyone who thinks their going to RV at say, 3, and it's going to turn it into 81T, you just don't understand how the process works.

[zipper]

this war believe it or not was a businesss decision per say, think of the us military as a contractor there is definitely a payday coming soon it just may be in oil rather than acurrency revaluation there is absolutely no way we are over there for nothing, we are essentially "flipping" iraq, I hope the dinar real though is a part of a bigger plan to jumpstart our economies but anything over .86 is a dream without a rd.

[M.D.]

Thanks for the post ...........................chuckray bingo

[hame55]

Well...let me explain!...Some will put away for future investment....some will stash away somewhere....much business will bring in billions to Iraq...credits...loans....insurance...taxes....shall we continue...a lot of money will come to Iraq in the 1st month after RV...etc.etc.etc. Go RV!

What about this? (posted on its own topic earlier) They have billions of dinar printed up and stashed in the bank. When it revalues their stashed dinar will equal many billions of dollars, or euros. Can they not pay off with their dinar exchanged for dollars or euros? That's how DB dinar reseller said it would finance cash ins themselves - from their banked dinar. Just a thought. A currency is worth as much as buyers say it is worth. (witness the US dollar) Everyone knows it's backed by oil, gas and mineral deposits.