SFMedic Chat: DS 2/9/10

[k98nights]

February 10, 2010

[Pam&Brian]

"SFMedic: THERE WILL BE TWO RATES

SFMedic: ONE FOR THE IRAQI PEOPLE AND THEIR NEW CURRENCY

SFMedic: AND ONE FOR US"

Don't know where he got this from and quite frankly, I don't care BUT someone will get screwed if this happens and I don't think its the Iraqi people.

I have NEVER heard of a currency having two legal rates.... IMO, that's hogwash!!! And I hope I am right!!!

[dinarded]

"SFMedic: THERE WILL BE TWO RATES

SFMedic: ONE FOR THE IRAQI PEOPLE AND THEIR NEW CURRENCY

SFMedic: AND ONE FOR US"

Don't know where he got this from and quite frankly, I don't care BUT someone will get screwed if this happens and I don't think its the Iraqi people.

I have NEVER heard of a currency having two legal rates.... IMO, that's hogwash!!! And I hope I am right!!!

Your right........Doesn't happen this way......a 25Dinar note being worth 25,000 X 1170??? WOW, someone needs to re-explain what they were trying to convey to Medic when he received his "intel."

[TexaSwa]

He pulled it straight out of his azz.

[k98nights]

It really does sound like BS to me... I hope he's wrong.

[DgreenFSU66]

Thats absolutly crazy.... so if i had 1,000,000 dinar in a warka acount, they are removing zeros from my account???? **** No, so this doesnt pass the COMMON SENSE test...

[Jonathan]

I can't believe that anybody would give any shred of credibility to someone that spells as poorly as him. What has he ever said that came true? The more times he says, "I KNOW FOR A FACT" the worse the "intel" seems to be.

[Rickybobby]

its backwards....the 25,000 note will be worth 25 Dinars, the two will co-exist till the end of the year....the zeros will be ignored...IMO....hope I'm wrong...it will revalue, but at what point will make all the difference. sigh

[igniteassoc]

"SFMedic: THERE WILL BE TWO RATES

SFMedic: ONE FOR THE IRAQI PEOPLE AND THEIR NEW CURRENCY

SFMedic: AND ONE FOR US"

Don't know where he got this from and quite frankly, I don't care BUT someone will get screwed if this happens and I don't think its the Iraqi people.

I have NEVER heard of a currency having two legal rates.... IMO, that's hogwash!!! And I hope I am right!!!

This is a lop, that is not a lop. It is a very plausible way for the iraqi people to receive value for their small denomination bills that will be issued very soon and the large denominations with 3 zeros will be cashed in with a different rate. When all the large bills have been sucked back to iraq (they will eventually place a deadline that the large bills will be honored by) then all the bills that will be left in circulation will the small denoms. It makes perfect sense, if you understand it. In other words, you are going to make money on your "investor notes" but not as much as the pipe dreamers have been saying. Your dinars will still have been a good investment. Look at some easy numbers to understand it. Ex: All notes with 3 zeros will be exchanged at a .10 rate. So a 25k note that you paid about $25 for will now be worth 25k x .10 = $2500 USD when you exchange it ( IF THE RATE WAS ONLY 10 CENTS). Would you pay $25 for a $2500 exchange? Absolutely. Using the scenario of .348 (which is the highest rate that frank and others have been saying and moving the decimal two spots, the equivalence of a two zero lop) then your $25 investment on a 25k note would net you 25k x .348 = $8700. That is still crazy good return on a $25 investment in the real world. No, its not the "star wars" insane ROI, that the dealers and traders have been touting for 5 years to sell their product (dinars) but it is REAL and I am ready to just get all this over with and be done with it. I'm just saying.......

[Rickybobby]

Thats absolutly crazy.... so if i had 1,000,000 dinar in a warka acount, they are removing zeros from my account???? **** No, so this doesnt pass the COMMON SENSE test...

This is an excellent point brought up here....maybe thats why adam was saying we should diversify and have stock and warka account as well as cash. It truely would not make sense to deposit 25,000 dinar in an account and a week later someone tell you that yuou have only 25...unless...the twenty five is worth more "now" than when your 25,000 was put in???? ie. your 25,000 is worth about 24 USD but after ward 25 dinar could be worth 75 USD...your money would triple so you would not complain if you were an iraqi, but its not what we are looking for......sigh.

[igniteassoc]

"SFMedic: THERE WILL BE TWO RATES

SFMedic: ONE FOR THE IRAQI PEOPLE AND THEIR NEW CURRENCY

SFMedic: AND ONE FOR US"

Don't know where he got this from and quite frankly, I don't care BUT someone will get screwed if this happens and I don't think its the Iraqi people.

I have NEVER heard of a currency having two legal rates.... IMO, that's hogwash!!! And I hope I am right!!!

You invested in a SPECULATIVE, risky, investment. If you get your money back at all then you did not get screwed. And you are right, Iraq's money is about the Iraqi people, not a bunch of get rich quick people in the US, France or China. You would still make money even under this scenario that Medic presented and to be ****** off that you didn't make more is typical of how and why the world thinks we are greedy and arrogant as a nation. You are guaranteed nothing in life except death.

[nellie]

"SFMedic: THERE WILL BE TWO RATES

SFMedic: ONE FOR THE IRAQI PEOPLE AND THEIR NEW CURRENCY

SFMedic: AND ONE FOR US"

Don't know where he got this from and quite frankly, I don't care BUT someone will get screwed if this happens and I don't think its the Iraqi people.

I have NEVER heard of a currency having two legal rates.... IMO, that's hogwash!!! And I hope I am right!!!

This medic is so full of s***, how in the world can any one of two kinds of rates ? doesn't even make sense of any kind, if you go back and look at this guys history of posts, he is all over the board regarding rates, and now he says - back in Dec 2008 he said the rate would be between .33 cents and .84 cents all along, this guy is full of crap, it's kinda of like the kid that tells lies, one after another, he doesn't know which lie he has told from the last one, kind of like this guys intel

[igniteassoc]

This is an excellent point brought up here....maybe thats why adam was saying we should diversify and have stock and warka account as well as cash. It truely would not make sense to deposit 25,000 dinar in an account and a week later someone tell you that yuou have only 25...unless...the twenty five is worth more "now" than when your 25,000 was put in???? ie. your 25,000 is worth about 24 USD but after ward 25 dinar could be worth 75 USD...your money would triple so you would not complain if you were an iraqi, but its not what we are looking for......sigh.

Absolutely, the warka may just have proved to be the smartest thing going for the largest returns.

[USNA67]

Two tiered conversion rates have been tried (by Mexica circa 1982 and Venezuela 2009) and have failed. Two tiered conversion is illegal per IMF rules. Should Iraq try this to screw us, a class action lawsuit would be appropriate.

[tbush]

Never happen that way!!!!!!

[DgreenFSU66]

thats my whole point.... once i deposit my 25,000 Dinar notes into an iraqi bank... it becomes 25,000 Dinar... they arent going to go back and LOP zeros off of my account... so if thats their plan, then it is a LOP for the 25k notes, and RV for the newly issued currency??? THATS NOT GOING TO HAPPEN, it would **** off COUNTRIES, this is so crazy people just start coming up with hybrid theories... this Sweet Prince theory is half LOP, half RV.... so i guess this is the half bunny ear theory???

[jackdavis1364]

This medic is so full of s***, how in the world can any one of two kinds of rates ? doesn't even make sense of any kind, if you go back and look at this guys history of posts, he is all over the board regarding rates, and now he says - back in Dec 2008 he said the rate would be between .33 cents and .84 cents all along, this guy is full of crap, it's kinda of like the kid that tells lies, one after another, he doesn't know which lie he has told from the last one, kind of like this guys intel

Hey, let's face it. He is going to be correct. Over time he has presented every scenario. Hewill be able to say see I told you I was right. Check what I said on xx-xx-20xx. Sure enough on that date, he was right. The day after or the date before that date, he was wrong.

[mrref]

Sorry, but I don't believe it. No way will a country have to separate rates no way.

[caddieman]

What is really funny to me is that when medic gives you guys news you don't like "he is crazy as ****". They are removing 3 zeros from the currency on what is out there now. This is the only way to get 25+ trillion out of cir. I don't know why that is so hard for people to comprehend. A 25,000 note will = a 25 NEW note. A 25,000 note is worth $21.50 USD. So will the new 25 dinar note. The currency will go from 25+ trillion to 25+ billion. This is the first thing I have agreed with Medic about in 1+ years. He is now saying the exact same I said the day the article came out. Now that is funny

[jackdavis1364]

I'll be very interested to hear Professor Enorrste's take on all of this.

[Muhammad]

If it is one law and one rate for Iraqis and one other law and one other rate for us and definitely for foreign traders as well, then this is exploitative indeed! The Forex traders will have more problems with such a new currency law of Iraq for the first time because it will be a double job for all in the financial community.

[caddieman]

Sorry, but I don't believe it. No way will a country have to separate rates no way.

The rates are not going to be separate. I think he used a bad phrasing. The zeros are going to be dropped first. So then a 25,000 note(with three zeros dropped) will have the same rate applied as the new 25 dinar note. Now hopefully they will make that rate higher than .86 With the 25 billion dinar in cir, I could see a rate say $2. So when you turned in your 25,000 note that is worth $21.50 now you will get $50 if the rate is 2.00. So in that scenario the Iraqi people , investors , and all the Countries would double their money. How could anybody be ****** off?

And just a side note. What a better way to keep all the big time speculators from buying up Iraq so many were afraid would happen with a low RV.............just thinking out loud

[krayblue]

Two tiered conversion rates have been tried (by Mexica circa 1982 and Venezuela 2009) and have failed. Two tiered conversion is illegal per IMF rules. Should Iraq try this to screw us, a class action lawsuit would be appropriate.

USNA67 - Do you have a link showing that a Two tiered conversion is illegal per IMF rules? I'm asking because I have been very concerned that Iraq was doing EXACTLY what Venezuela did in 2007. See this link: http://www.reconversionbcv.org.ve/pdf/TripticoColorIng.pdf

Hope you are right!

[iluvdinar!]

ok i feel like I just took a ride on the CRAZY train!!!! What the heck... i never try to bash, but wasn't it just last week that Med was saying he knew for a fact the rate would be close to the Euro.... for everyone? Now all of the sudden for the Iraqi's it's 3 and for us it's less than a $??? I have been following med for a while now and trying to give the benefit of the doubt, but saying "I'm sure about that" every other week relating to different info is just getting annoying. It's almost like he has an alter ego writing half of his posts!!! So weird.... Not that I wouldn't be happy with .84 cents... but come on already!

[DgreenFSU66]

What is really funny to me is that when medic gives you guys news you don't like "he is crazy as ****". They are removing 3 zeros from the currency on what is out there now. This is the only way to get 25+ trillion out of cir. I don't know why that is so hard for people to comprehend. A 25,000 note will = a 25 NEW note. A 25,000 note is worth $21.50 USD. So will the new 25 dinar note. The currency will go from 25+ trillion to 25+ billion. This is the first thing I have agreed with Medic about in 1+ years. He is now saying the exact same I said the day the article came out. Now that is funny

So if that was true... then the value of the NEW currency would be so freaking high because they have almost ZERO debt. More oil than they can even dream of. Plus they just recieved 22 Billion dollars and Three tons of Gold from the US and 68 Billion dollars and 2.75 tons of gold from Europe from the siezed assets under Saddam.. so with 25 Billion in circulation and with all this credit and no debit.. they could RV at 100 to 1.. NOT GOING TO HAPPEN.

The large holders of Iraqi Dinar are COUNTRIES.. they hold it in their RESERVES, they arent going to flood the market. They will have a RV and that is the rate across the board. When their CBI gets the large notes they will dispose of them removing them from circulation... Now how hard is that to comprehend???? oh did I mention, look up the 2007 NY Times article?? where the Senior Bush advisior to the CBI stated in 2005 every Dinar was already backed DOLLAR FOR DOLLAR by the US Dollar???