SFMedic Chat: DS 2/9/10

[igniteassoc]

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.

You cannot sue a country.

[igniteassoc]

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!

oh my...........................You Are HOT!

[Jonathan]

^^

lol lol

[caddieman]

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???

So what do you think they can RV at with 25+ trillion in cir? You do know IF ,and I say IF(came from a guy in the forms with no link by the way) Iraq just got 5.75 tons of gold, that gold is only worth 152 million USD or .00604% of what is in cir! That is next to nothing!

[Mleandme]

This is were he got the notion of the dual rates you bone heads do some research and quit tearing everyone down.

If you are not willing to do any research shut up. At least some of us are out trying to find news.

Two currencies coexist together and gradual replacement

Two currencies coexist together and gradual replacement

Central Bank (time): Delete the zeros start end of the year

BAGHDAD - Ahmed Saleh Khyoun

CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.

Bank consultant and announced the appearance of Mohammed Saleh told (time) on that (the bank has completed 50 percent of a strategy switch in and out, delete the zeros of the nominal value of the new currency while retaining the cash value and purchasing power), said that (the replacement process will be gradually and spontaneously high and without fanfare, as will be There are two currencies to trade at the same time go hand in hand), but (that the purchasing power of the new currency will remain fixed).

Saleh said (there are multiple advantages of this strategy, including ease of trading between the citizens and facilitate the work of banks, counting, sorting, and stand on the counterfeit currency and to facilitate transactions of the citizens with the banks on the deposits and withdrawals in addition to facilitating the process of monetary reform after hitting a currency issued in circulation now 25 trillion dinars, while in 1990 was about 25 billion dinars and this in itself calls for the deletion of zeros).

In the answer to a question by (time) whether the Central Bank has set a deadline for the replacement of the currency said (we did not define this ceiling until now that the matter is still under study and the reality of work at that time will decide how long the replacement process).

Responding to another question about the Iraqi currency held abroad and how to replace it "(The right of a citizen is to remove the $ 200 thousand dinars and he could only replace it like any ordinary citizen here in Iraq, either from abroad, the banks in the States would be responsible to us of the assets of our currency), He pointed out that (a media campaign will precede and guide the process in order to raise public awareness of the importance of this and that our banks and our will all be ready to provide all facilities to the citizens and emphasize once again that the process does not affect absolute quiet in the market also note that many countries replaced their currency and benefit from their experiences in this area, including Turkey, Russia, Brazil and others).

http://www.azzaman.com/index.asp?fna...htm&storytitle=

[Mleandme]

This is where he got the notion of a dual rate you bonehead. It was in the news. Quit tear everything apart the people are putting out for your benefit.

Go do your own research and shut up. You haven't brought much to the table by way of news. So STOP being so negative of those that do!!!

Two currencies coexist together and gradual replacement

Two currencies coexist together and gradual replacement

Central Bank (time): Delete the zeros start end of the year

BAGHDAD - Ahmed Saleh Khyoun

CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.

Bank consultant and announced the appearance of Mohammed Saleh told (time) on that (the bank has completed 50 percent of a strategy switch in and out, delete the zeros of the nominal value of the new currency while retaining the cash value and purchasing power), said that (the replacement process will be gradually and spontaneously high and without fanfare, as will be There are two currencies to trade at the same time go hand in hand), but (that the purchasing power of the new currency will remain fixed).

Saleh said (there are multiple advantages of this strategy, including ease of trading between the citizens and facilitate the work of banks, counting, sorting, and stand on the counterfeit currency and to facilitate transactions of the citizens with the banks on the deposits and withdrawals in addition to facilitating the process of monetary reform after hitting a currency issued in circulation now 25 trillion dinars, while in 1990 was about 25 billion dinars and this in itself calls for the deletion of zeros).

In the answer to a question by (time) whether the Central Bank has set a deadline for the replacement of the currency said (we did not define this ceiling until now that the matter is still under study and the reality of work at that time will decide how long the replacement process).

Responding to another question about the Iraqi currency held abroad and how to replace it "(The right of a citizen is to remove the $ 200 thousand dinars and he could only replace it like any ordinary citizen here in Iraq, either from abroad, the banks in the States would be responsible to us of the assets of our currency), He pointed out that (a media campaign will precede and guide the process in order to raise public awareness of the importance of this and that our banks and our will all be ready to provide all facilities to the citizens and emphasize once again that the process does not affect absolute quiet in the market also note that many countries replaced their currency and benefit from their experiences in this area, including Turkey, Russia, Brazil and others).

http://www.azzaman.com/index.asp?fna...htm&storytitle=

[dinarded]

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.

Hey LOOK everyone! Another blame America first freak!

[Mleandme]

dtysrthxfhsr

[deenar]

this guy is so full of crap! "i've said since 08 the rate would be between .33 to .84" what a lying sack! just a few months ago he said he knew it was coming out at 3.27, and just over the last couple of weeks, near the euro.

[Mongo]

.................................

[Mongo]

[ATTACH=CONFIG]366[/ATTACH] Hmmmm..........It's an Illusion.......like medic's post. slight of hand, smokescreen

[Spec Investor]

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!

I always enjoy watching when the blind begin to see!

[seattle]

Got to bash on this 1... because I don't like what he had to say.....He's never right lol

[gaild38]

from what I understand the other countries holdings is being traded for oil, so there is no monies being traded with large amounts. Now the question would be , what value would be on the dinar will detrermine how long the countries will be trading for the oil. I also don't think they will put 2 rates on the dinar, that would be very confusing to everyone involved.

[john1025]

I never agree with anything medic has to say but in the case, and I don't know where he got his information from, but I think he is right on. I expect .70 to .80. Maybe even lower. Once they have given enough time to get the large bills or most out circulation then the currency will float. None of this I expect to happen before July or August. they will go to new currency by the end of 2010, usually a country will give 90 days at least to turn in you're old currency, if you hold old currency till after the deadline you lose. Actually .10 is not out of line for what they want to do. IMO

[Lonnie]

I liked the elephant posting. There are a lot of illusions out there now. Just enough information (carrot) to dangle in front of our noses hoping we will go buy more. Only invest what you are capable of losing if the investment goes bad.

[cmil222]

this guy blows

[Lady Liberty]

I agree with you Lonnie, never invest more than you're willing too lose. I have more money that I could invest but I'm not willing to lose it. I don't think there is ever such a thing as a "sure thing".

[egbert]

I have only agreed and/or believed what medic had to say once or twice before, but this time, I think he is right on as far as value. No one wants to believe it because they are vested in the idea that they will become millionaires on this venture and anything contrary undermines the very reason they put their money in this venture. If you do the math, even 6 tons of gold (at $1000 per ounce) is is a drop in the bucket to the trillions of dinar printed and does not really amount to much support for the currency. I've always hoped it would RV at 2+, but I've always assumed it makes more sense at less than .25 and I've always hoped I'm wrong.

[mannamay]

Hey everyone! I am noob here like a few are, and after reading parts of the forum, I am a bit lost, but sort of understand the situation, if that makes any sense.

Anyway, I totally do not understand the current rate. However, I would like to post a hypothetical view on my understanding of the possible new rate.

Okay again, hypothetically, say Iraq RV

[egbert]

mannamay - exactly, but you have to understand that most people have been thinking it's going to be at 2.47 so there seems to be some misplaced dissappointment. Look at it this way, you paid roughly $25 for your 25,000 dinar and, under your hypo, you would be getting $18,750. Seems pretty darn good to me! But then I've assumed it would RV at less than .25.

[mannamay]

Thanks egbert for the response! Although a rate of 2.47 would be nice, I would even be happy with .25 cents lol. Even if I had just one 25k note, it would be at $6225 profit in my pocket at the rate of $0.25 cents per dinar. I agree, sounds pretty good.

[sandy040]

mannamay and egbert i agree with you both , would love to be one or two dollars plus, but i have been holdingmine for six years, and was told back then that if it made .33 we would be doing well, arond the 20-25 cent mark wont make me a millionaire, but it still a very nice return for doing nothing

[Mongo]

Thanks egbert for the response! Although a rate of 2.47 would be nice, I would even be happy with .25 cents lol. Even if I had just one 25k note, it would be at $6225 profit in my pocket at the rate of $0.25 cents per dinar. I agree, sounds pretty good.

Well then ... What would you think of a three zero lop on the note. 25k to 25 dinar note X 25 cents= $6.25 that sound good? or 25 dinars X $2.47= $61.75, 40 X $61.75= 2470.00 per million. Who knows... It's all speculation at this point

[mannamay]

Well then ... What would you think of a three zero lop on the note. 25k to 25 dinar note X 25 cents= $6.25 that sound good? or 25 dinars X $2.47= $61.75, 40 X $61.75= 2470.00 per million. Who knows... It's all speculation at this point

Hi mongo!

Of course it is all speculation! Everyone is on the edge of their seats, and apparently have been for a while now. However, you should never gamble with more than you are willing to lose. It's like going to a casino. Spending $250 USD for a pack of 10-25k dinars is not bad considering I can spend that at a casino with no hesitation, if I lose, I'm not happy, but not upset that much either because there was no guarantee I would keep that $250 regardless. If I walk out of that casino with more than I went in with, that is a bonus...no different that what most are expecting with this dinar situation. Its all a gamble and in God's hands.