86cts to $1.20 is stupidity for RV

[keepmwlknfny]

Keep, the article that said that came out in April of 2010 I believe. I read it but didn't save the link because at the time I didn't think it mattered much. I have tried to find it since but have not been able to locate it. I do from time to time see others referencing it which leads me to believe that it wasn't a figment of my imagination.

The reason I say that is cause the article was not about removing 80% of the currency in circulation, it was ONLY about removing excess liquidity, but a lot of the gurus added their own little twist to make it sound so good when in fact it was about nothing of the sort....and that's why so many people repeat it over and over that 80% of the zeros were removed from circulation because they didn't verify the info for themselves and instead just took somones word for it.....if 80% of the zeros were removed from circulation we wouldn't be getting crisp uncirculated 000 notes from these dealers day in and day out and the citizens would have almost no dinar to buy anything period.....there is no evidence supporting that any such thing happened

Keep, the article that said that came out in April of 2010 I believe. I read it but didn't save the link because at the time I didn't think it mattered much. I have tried to find it since but have not been able to locate it. I do from time to time see others referencing it which leads me to believe that it wasn't a figment of my imagination.

The reason I say that is cause the article was not about removing 80% of the currency in circulation, it was ONLY about removing excess liquidity, but a lot of the gurus added their own little twist to make it sound so good when in fact it was about nothing of the sort....and that's why so many people repeat it over and over that 80% of the zeros were removed from circulation because they didn't verify the info for themselves and instead just took somones word for it.....if 80% of the zeros were removed from circulation we wouldn't be getting crisp uncirculated 000 notes from these dealers day in and day out and the citizens would have almost no dinar to buy anything period.....there is no evidence supporting that any such thing happened

[eatmoney]

keep... cool hat...where did you get it....?

[zul]

There is no way that we will see that kind of jump in value overnight.....it will takd years to get back to a 3 dollar rate! Of. Course they will be able to support it at somepoint but even though they aren't cashing in the whole 24 trillion, the currency is still diluted and very excessive in numbers....part of the reason it lost its value in the first place so to think it doesn't play a role now, your just kidding yourself

Keep, that was just my opinion. Anything could happen and you could very well be right. But I think as soon as they RV..lower denom will be introduced and the three zeros currency will be removed thus reducing total amount of currency to a more manageable amount. After RV, they dont need 24 trillion to be in circulation anymore...... that's what i think removing of the 3 zeros is all about.

[hame55]

I read somewhere that total IQD in circulation is now 24T. Out of those IQD 24T, about 80% in still in country. Only about 20% is out of Iraq (roughly about 4 to 5T).

And out of the 20%...a large sum is being held by UST, UK and some other countries.

The remaining amount are with us ~

If they RV and USD 3.00 - those IQD in Iraq (+/- 80%) would not need to be cashed out because Dinar is higher than USD ( 1 IQD= 3 USD).

And many would also think those IQD kept by UST and other goverment - would not be cashed out too ~ as they woud be using that money as their foreign reserve or for purchases of oil.

That leaves...us, the insignificant holder of IQD. I dont how much in total we have, but i do think Iraq is capable of RVing at USD3.00. Even then..most likely the IQD that we cashed in~ would most likely be 'financed' by instituional buyers would now be coming in to buy Dinar...

NO one has discussed the possibility of Iraq paying off investors in currency with their own reserves of dinar. No doubt they have billions or trillions stashed away in their vaults. When it RVs it will be worth many more billions. How do we think the US pays off its massive debt? By printing more money. Of course it devalues it by printing more, and yes we are the global reserve currency and our perceived economic stability are important to this equation - but remember the bottom line: currency is by FIAT - that is made not by logic and economics alone but by arbitrary government laws that say, this is what our currency goes for now...

Ty Rhames at DB has gone on record stating he will pay off dinarians at cash in with his own reserves of dinar. Why not the CBI? Thus Keep's argument falls into the trash heap of history...

I may be wrong, and missed something...Keep? What do you think?

[Bambino3]

General Kang - I agree. With Iraq everything is stupidity. So, whatever the rate is, i don't think we can apply logical theorems. That being said, it will be $7.02 with no LOP. Dag Nab It- now I will have a tax problem. One thing we know, is we will be blessed and I do not think we will truly be disappointed.

[speculatorsRIDE]

The reason I say that is cause the article was not about removing 80% of the currency in circulation, it was ONLY about removing excess liquidity, but a lot of the gurus added their own little twist to make it sound so good when in fact it was about nothing of the sort....and that's why so many people repeat it over and over that 80% of the zeros were removed from circulation because they didn't verify the info for themselves and instead just took somones word for it.....if 80% of the zeros were removed from circulation we wouldn't be getting crisp uncirculated 000 notes from these dealers day in and day out and the citizens would have almost no dinar to buy anything period.....there is no evidence supporting that any such thing happened

Read more:

I also read that article. But the article I am referring to is a separate article altogether. Keep there is one other thing I am looking for. I need a link to the Saddam accounts that were frozen. If you have it could you post it for me. Thanks.

I believe the article about the 80% referenced in country 000 notes. That might be why we are getting the crisp new bills.

Edited May 17, 2011 by speculatorsRIDE

[dinarck]

The reason I say that is cause the article was not about removing 80% of the currency in circulation, it was ONLY about removing excess liquidity, but a lot of the gurus added their own little twist to make it sound so good when in fact it was about nothing of the sort....and that's why so many people repeat it over and over that 80% of the zeros were removed from circulation because they didn't verify the info for themselves and instead just took somones word for it.....if 80% of the zeros were removed from circulation we wouldn't be getting crisp uncirculated 000 notes from these dealers day in and day out and the citizens would have almost no dinar to buy anything period.....there is no evidence supporting that any such thing happened

Read more:

I also read that article. But the article I am referring to is a separate article altogether. Keep there is one other thing I am looking for. I need a link to the Saddam accounts that were frozen. If you have it could you post it for me. Thanks.

I believe the article about the 80% referenced in country 000 notes. That might be why we are getting the crisp new bills.

Come on. Lets use a little common sense here. You cannot remove the majority of a money supply from a country. Lets say they did remove 80% of the 000 notes from circulation in country. That leaves 50, 250, and 500. A can of soda cost 1000 IQD in Iraq. Tell me what iraqis are using to buy a radio with. Granted maybe USD but wouldnt we have verification that USD was being used primarily in Iraq?

[Ex-wingnut]

I think I'm just gonna sit back and wait for Shabizzle or Malikizzle to drop the rate on us. Until then, all we're doing is forming opinions on what we "think" is going to happen. Nothing personal but no one here really know what's going to happen. But I must admit, it is entertaining and good food for thought.

[sheik]

The dead civilian casualties is appx 60,0000-80,000 per WikiLeaks.But, then again, who is counting.? It is only a war. OIL-quenching the thirst of America for years.

Hame 55- your pal Bush only left America 10 trillion dollars in the hole. The Chinese own America. O. Thousands of dead in the Middle East. 4 years into a major recession. Yeah. He was a great President. Open your eyes and let us know exactly what he did in 8 YEARS. No peace and no prosperity is why he stinks and will go down as one of the least respected and ineffective Presidents ever. If you don't believe me, ask the rest of the world.

Edited May 18, 2011 by sheik

[cashin]

Keep, that was just my opinion. Anything could happen and you could very well be right. But I think as soon as they RV..lower denom will be introduced and the three zeros currency will be removed thus reducing total amount of currency to a more manageable amount. After RV, they dont need 24 trillion to be in circulation anymore...... that's what i think removing of the 3 zeros is all about.

[cashin]

the only way currency can be removed out of circulation is for that money to fall into the hands of the GOI.

Look at like this.

All the Dinar belongs to someone, Iraqis, Fed reserve, Me, You, whoever.

If i buy something with it the money goes from me to the seller, same amount of money is still there. If you take the money to the bank and put it in your account the money is still there its still in circulation. If I Take a 25,000 Note to a bank in Bagdad and they give me 250 x 100 dinar notes the same amount of currency is still in circulation. Its nuts to think you can just remove money out of the system.

Iraq has too much money out there to RV because if you change 24 T in to 24 T Dollars Iraq will be required to settle that account when it is presented. They just couldnt do that and will never be able to do that. As for thinking its going to be 3 dollars a Dinar without knocking off the 3 zeros first is rubbish. DREAM LAND. They will RD and then RV giving us a max profit of 3 times outlay. Wise up guys, I know its crap but thats were we are all heading.

[Dinariana]

Ty Rhames at DB has gone on record stating he will pay off dinarians at cash in with his own reserves of dinar. Why not the CBI?

I don't get this. How do you pay people wanting to exchange dinar with your own reserves of dinar?

[sonhischest]

Bush doesn't look so stupid now does he? No one knows what went on behind closed doors, half of which Bush couldn't announce publicly. He will go down as one of our BEST presidents EVER.

Lmfao!!!! Promise me you wont vote or breed, how could anyone say that about a president that could barely read, inserted us in corrupt wars, and spearheaded policies that led to the economic collapse of our country. Wow I am so offended by this type of ignorance that I cant even think of the words to describe it. Go RV

[sandfly]

wel i can say alot about the rate but i'm not. so think what u wont

[JoeB]

Bush doesn't look so stupid now does he? No one knows what went on behind closed doors, half of which Bush couldn't announce publicly. He will go down as one of our BEST presidents EVER.

Best? Worst? Hard to say...

However, he probably is the one with the lowest IQ of all the presidents

[gr8cooker142]

Well lets agree to disagree I think it would be stupidity for anyone to think that it would come out of the gate more then 1.17 to start. It just won't happen no matter what the value was that prior to devaluation of the Dinar. It was a made up value that had Saddam Hussein put on his money.

[suntiger]

I read somewhere that total IQD in circulation is now 24T. Out of those IQD 24T, about 80% in still in country. Only about 20% is out of Iraq (roughly about 4 to 5T).

And out of the 20%...a large sum is being held by UST, UK and some other countries.

The remaining amount are with us ~

If they RV and USD 3.00 - those IQD in Iraq (+/- 80%) would not need to be cashed out because Dinar is higher than USD ( 1 IQD= 3 USD).

And many would also think those IQD kept by UST and other goverment - would not be cashed out too ~ as they woud be using that money as their foreign reserve or for purchases of oil.

That leaves...us, the insignificant holder of IQD. I dont how much in total we have, but i do think Iraq is capable of RVing at USD3.00. Even then..most likely the IQD that we cashed in~ would most likely be 'financed' by instituional buyers would now be coming in to buy Dinar...

This article states twice that Iraq has up to 30 trillion in circulation!

http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=ar&tl=en&u=http%3A%2F%2Fal-iraqnews.info%2Fnew%2Fstudies%2F56519.html