Sonny1 drive by 7/18/11 1:50pm

[paj1985]

I keep commenting on turkey and brzil because its coming from their own mouths in the deleting of the zeros articles.....so I imply explain that if they are using turkey as a template to put together their own plan to remove the zeros then its not what we want.....it doesn't matter who has what resources when ur currency is inflated due to periods of hyperinflation.....you have to issue a completely new currency to rid the after affects.....now whether they do it or not is another story but that's what they have been saying the past couple years that's all

Plus the article states that turkey and brazil SUCCESSFULLY!! lopped there currencys. I hope this isnt the new spin on the facts,no offence sonny1 I heard it somewhere before so i really cant wait for ur chat.

[bales130]

I keep commenting on turkey and brzil because its coming from their own mouths in the deleting of the zeros articles.....so I imply explain that if they are using turkey as a template to put together their own plan to remove the zeros then its not what we want.....it doesn't matter who has what resources when ur currency is inflated due to periods of hyperinflation.....you have to issue a completely new currency to rid the after affects.....now whether they do it or not is another story but that's what they have been saying the past couple years that's all

Keepmwlknfny: You don't have to explain youeself, you give valued info, sometimes it's hard for people to accept information that might not go with their plan.

[keepmwlknfny]

Keepmwlknfny: You don't have to explain youeself, you give valued info, sometimes it's hard for people to accept information that might not go with their plan.

Thanks!! I always feel like I do have to explain because my words and my intentions are always twisted into something that a particular person wants to hear or wants to believe about me LOL.....

[HopefulTxn]

Thx for the post kcw

I agree with sonny1 on Turkey.

Turkey had rampant Inflation when they made their change. Iraq has single digit inflation. It's Apples and Camels !

Wait.... I think I hear Lopsters coming in to defend themselves

Sorry, but at the time that Turkey did their redenomination, Jan 1st 2005, their inflation rate was already way down and was under 10%. They had already made changes in their fiscal and monetary policies that had helped cause the inflation and saw the rate sink like a stone since 2003, until it reached under 10% and has remained there.

http://www.tradingeconomics.com/turkey/inflation-cpi

http://www.indexmundi.com/g/g.aspx?c=tu&v=71

Edited July 18, 2011 by HopefulTxn

[WorkerBee]

Keepmwlknfny: You don't have to explain youeself, you give valued info, sometimes it's hard for people to accept information that might not go with their plan.

ditto, the tide has turned. I read those articles, they are real, I wouldn't dismiss them as easily as an okie rumor. Keep, you are a voice of reason, no need to defend your position. Like you, I hope you're wrong!

[keepmwlknfny]

Sorry, but at the time that Turkey did their redenomination, Jan 1st 2005, their inflation rate was already way down and was under 10%. They had already made changes in their fiscal and monetary policies that had helped cause the inflation and saw the rate sink like a stone since 2003, until it reached under 10% and has remained there.

http://www.tradingec...y/inflation-cpi

http://www.indexmund....aspx?c=tu&v=71

Thank you hopeful for providing the links for everyone......Turkey was a successful RD as far as I can tell.....and I havent seen anything that would point to otherwise....they even waited till inflation was under control which was the smart thing to do. I dont know why there are people saying it was a disaster and that they did it during crazy hyperinflation......like alot of us know, when RD are done successfully its AFTER periods of hyperinflation.....

ditto, the tide has turned. I read those articles, they are real, I wouldn't dismiss them as easily as an okie rumor. Keep, you are a voice of reason, no need to defend your position. Like you, I hope you're wrong!

Thanks bee!! I wake up everyday telling myself Im gonna be wrong LOL......it just hasent happened yet....but there is possibilities!!!

[Kimberlye]

Thank you hopeful for providing the links for everyone......Turkey was a successful RD as far as I can tell.....and I havent seen anything that would point to otherwise....they even waited till inflation was under control which was the smart thing to do. I dont know why there are people saying it was a disaster and that they did it during crazy hyperinflation......like alot of us know, when RD are done successfully its AFTER periods of hyperinflation.....

Thanks bee!! I wake up everyday telling myself Im gonna be wrong LOL......it just hasent happened yet....but there is possibilities!!!

Hey Keep, I respect your posts, even though I don't like to hear what you have to say. I sure hope you're wrong, too. If you ever wake up one day and your gut is telling you that a huge RV is possibly coming our way, I would sure love to see that post in rumor or opinions. You know, like if you get a juicy bank story or one of your friends knows someone that works at the CBI, you know, something fun like that, please be sure and let us know.

Happy Monday,

Kimberlye

[Shinnidan]

hmm....wait wasn't this the same guy that said, "thats it RV with in Three weeks!" about five weeks ago. hmm....wotever.... wotever, me no longer care...just to when it does happen.

[jmw]

Sorry, but at the time that Turkey did their redenomination, Jan 1st 2005, their inflation rate was already way down and was under 10%. They had already made changes in their fiscal and monetary policies that had helped cause the inflation and saw the rate sink like a stone since 2003, until it reached under 10% and has remained there.

http://www.tradingec...y/inflation-cpi

http://www.indexmund....aspx?c=tu&v=71

Great links Hopefultxn!...really illustrates why Iraq is using them as an example....as well as how and why a re-denomination can work.

[easyrider]

I looked into turkey about the whole Rd thing nd it is FACT theyalmost screwed their economy up Sonny 1 is right on the money i didnt even kow they almost went into a financial crisis and the IMF had to set everything straight just like sonny1 mentioned. So, in regards i think people look at the negative of what tureky did and think Iraq will folow suit but in the meantime Iraq wants to learn from the mistakes Turkey did and not have that same thing happen to them.

Edited July 19, 2011 by easyrider

[zaborniake]

The WMD sanctions were lifted in December of last year.

[RVnow4meplease]

You remind me of the Geico comercial when the piggy squeals wee weeeeee all the way home. lol

You're funny.

That's because the piggy got the news that "IT RV WEEEEEEEEEEEEEED"!

[zaborniake]

Interesting, since this article http://articles.lati...ctions-20101216 indicates the following:

U.N. Security Council ends key Iraq sanctions

The country is now free to develop a civilian nuclear program, and it regains control of its oil revenue.

December 15, 2010

By Paul Richter and Ned Parker, Los Angeles Times

The U.N. Security Council voted Wednesday to lift key sanctions on Iraq, in a major step to restore the nation to the international standing it had before Saddam Hussein's 1990 invasion of Kuwait.

The council lifted restrictions aimed at preventing Iraq from developing weapons of mass destruction, opening the way for Baghdad to eventually build civilian nuclear plants. It also ordered the dismantling next June of the U.N. programs that since 1995 have given foreign powers control over how Iraq has spent its huge oil revenue.

Not my find...

[jmw]

I looked into turkey about the whole Rd thing nd it is FACT theyalmost screwed their economy up Sonny 1 is right on the money i didnt even kow they almost went into a financial crisis and the IMF had to set everything straight just like sonny1 mentioned. So, in regards i think people look at the negative of what tureky did and think Iraq will folow suit but in the meantime Iraq wants to learn from the mistakes Turkey did and not have that same thing happen to them.

Sorry, but at the time that Turkey did their redenomination, Jan 1st 2005, their inflation rate was already way down and was under 10%. They had already made changes in their fiscal and monetary policies that had helped cause the inflation and saw the rate sink like a stone since 2003, until it reached under 10% and has remained there.

http://www.tradingec...y/inflation-cpi

http://www.indexmund....aspx?c=tu&v=71

have you seen this post by hopefultxn?.....the links make it pretty clear what was going on when they had a successful re-denomination...not sure where you got your facts.

[The Right one]

Thanks sonny for your info. Its always to good to read your info.

[Legolas]

I still have to agree with Keep and the many others who subscribe to the RD/RV theory. As much as I hope I'm wrong, no matter how I look at it, the numbers don't add up for a straight RV. I've always backed Sonny in the past, (particularly since we've always been of like mind on the pumper/liar issue) but I really hoped he would have joined in the "Facing the Rumor Reality" discussion. I like the fact that he seems so positive, but cringe at the fact that in the last year or so, he never provides an explanation as to why? I wanted to hear his take on it, and I was fairly sure someone here would take it to Med on DS as well - especially since Sonny and Med speak frequently. I'd REALLY like to hear HIS opinion. He's stuck to the same position for well over 2 years now, and hasn't waivered -straight RV at close to a Dollar. BUT, none of them ever seem to address the RV/RD issue. All I keep hearing is "NO LOP," and I think we all agree on that already. But why isn't the RD/RV scenario more likely in their opinions? Inquiring minds want to know. I look forward to Sonny's chat and info.

[Darin]

Easy, provide the links where you read your information.

[AirForce17]

I don't really believe that 2 guys that are not in agreement can prevent the RV. Everything does not have to be in place for them to pass laws just as we do in this country. I don't know what is holding the RV up. Some say it is the US and Iraq is furious about it, but I have no proof of that either so with patience, I will wait until Iraq says it is done, after all, we don't have any other option do we? :tiphat: :rolleyes:

[JOLLY ROGER]

Great to hear from you Sonny. Thanks for the visit! !

[HopefulTxn]

I looked into turkey about the whole Rd thing nd it is FACT theyalmost screwed their economy up Sonny 1 is right on the money i didnt even kow they almost went into a financial crisis and the IMF had to set everything straight just like sonny1 mentioned. So, in regards i think people look at the negative of what tureky did and think Iraq will folow suit but in the meantime Iraq wants to learn from the mistakes Turkey did and not have that same thing happen to them.

Is there anything to support them almost screwing their economy? I have looked at the IMF site, and one thing that stands out is that they were repaying the IMF, with the exception of 2008, far more than they were getting in dispersements:

(Amounts in SDRs)

2005, borrowed 1.7 billion, repaid 5.3 billion.

2006, borrowed 2 billion, repaid 5 billion

2007, borrowed 750 million, repaid 3.3 billion

2008, borrowed 2.25 billion, repaid 1.24 bilion

2009, borrowed 0, repaid 460 million

2010, borrowed 0, repaid 1.4 billion

2011, borrowed 0, repaid 687 million (so far this year)

Link

They were also in talks even before the redenomination to secure a new SBA to further promote the growth that they had seen up until then:

Link 1

Link 2

The fact that Turkey had already been negotiating for a new SBA prior to their RD, and the fact that they were repaying the IMF by well more than required on an annual basis, with the exception of 2008, does not seem to insinuate that they almost screwed up their entire economy with a redenomination. If you have anything that shows otherwise, please post a link to the information as I just don't see it with what I have been reading.

Edited July 21, 2011 by HopefulTxn