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Sonny1 drive by :) 8/1/11 am

kcw

By kcw,
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kcw

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[sonny1] hello

[sonny1] Lively bunch i see

[Dinarkicker] sonny1 morning

[kcw] sonny1 good morning

[sonny1] how you guys doing?

[kcw] sonny1 great and you?

[sonny1] i am great, thanks

[lone ranger] is this lifting of the zeros a good thing or a bad thing

[Dinarkicker] sonny1 doing good battling computer issues (stinking new comp)

[pluMmet] Q: for you sonny1?

[sonny1] just got off the phone with the bank, final preperations

[sonny1] pluMmet sure

[pluMmet] in the debate the guy kept saying that there was 50 trillion or 60 trillion Dinar in M1 where is that info from?

[sonny1] pluMmet cbi

[sonny1] but its my belief they truely have more in reserve

[Nadita] sonny1 what final preparations...?

[sonny1] Nadita just getting my bank up to speed on how many will be coming, ect.ect

[lone ranger] is that lifting of the zeros just good for iraqis or us too

[sonny1] lone ranger i am not totaly sure of there plan, but it looks they are about to release the new coin with a higher value

[lone ranger] will it effect our dinar good or bad??

[kcw] sonny1 there has been quite a few articles about the coins, which is exciting

[sonny1] a new exchange rate is coming, they cant have a 25 and 100 dinar coin at 1170

[lone ranger] so sounds likr rv???

[sonny1] lone ranger i think so

[Nadita] sonny1 agree with you... when we are talking about 50 billion or so..are we talking about the new dinar or what they have in reserve...?

[kcw] sonny1 and the article about the parliment pushing the council for the hcl

[lone ranger] cool thanks sonny

[vader] so, todays excuse is

[sonny1] Nadita 50 billion is what some thought they had in reserve, but they just got 250 billion back from dfi, so there numbers are off there as well

[kcw] vader too hot, they needed a holiday

[vader] hhhhhmmm

[vader] so whats the latest that we are being fed?

[vader] i believe we have passed AM 10 day countdown

[Nadita] sonny1 wow...they have more dinar in reserve and US has more debts in tow...

[vader] so jan is looking better and better

[sonny1] vader i thought they were releasing the coins now?

[vader] not another rumor

[sonny1] vader no 17 articles

[Nadita] sonny1 question... from your comment above that you are preparing your bank etc... I am assuming you are not part of DV or are you...?

[Nadita] or you are one of the people that we can trust with info...?

[sonny1] Nadita what do you mean

[sonny1] Nadita i havent been right on any rv prediction, but i try

[Nadita] sonny1 I am just trying to figure it out..who is who in this dinarland. I was going with your comment that you are preparing your bank on how many will come... never mind the question...

[Nadita] sonny1 that is good enough for me... thanks

[sonny1] Nadita i have my group, we have 270 million in dinar between us, i was just letting the bank know, they call me once a week

[Nadita] sonny1 I see... that is exciting...

[yoyo1330] jokes im povo hahaha

[behaviorkat] sonny1 Are you invested in the VND?

[sonny1] behaviorkat no

[behaviorkat] sonny1 thanks

[yoyo1330] u do know they will bunny-ear the 0's and revalue

[yoyo1330] but im not feeling well about it

[Linda Bower] sonny1 how many our in your investment group?

[sonny1] Linda Bower 11

[Linda Bower] what benefit do you see in investing together?

[lone ranger] in reference to what

[lone ranger] that it will revalue??

[Nadita] sonny1 I missed your debate yesterday...can you give me your opinion about this dinarland... are we getting close to rv..? I just want to hear your opinion alive today if you don't mind...

[Nadita] lone ranger yes..to VND

[sonny1] Nadita i think its a no-brainer they rv

[lone ranger] well they say more than one currency is going to revalue

[Nadita] lone ranger I see...why do you pick VND as the rumor also says Chinese Yuan..

[Linda Bower] sonny1 what benefit do you see in investing together?

[Nadita] sonny1 it's just a matter of when and what rate...?

[lone ranger] inexpensive to buy in

[sonny1] Linda Bower just economic professors that got me into this, they are 100% sure it will rv, i just joined there group, maybe a little better spread, power in number kinda thing

[lone ranger] so if everything is pretty much settled anyone have a guesstimate of rv

[Nadita] sonny1 so, what does the economic professors prediction about the time and rate...?

[Linda Bower] sonny1 thanks, just wondering if that may be an option for us or whether we should stay as is.

[sonny1] Nadita anytime, and articles support that, and the rate in there opinion will be anything lower than $1.00

[Nadita] Linda Bower in fact, it's kinda nice if we can get a group so that the planning after rv..will be a good discussion

[lone ranger] less than adolar for how long???

[Linda Bower] sonny1 how do they propose to fight dollarization, in their opinion once it RV's at that rate?

[Nadita] sonny1 that is fair enough... I can

[lone ranger] a dollar

[sonny1] Linda Bower i really dont know what to tell ya, if you know alot of dinar holders join up with them and try to get a better bank spread

[Nadita] I can't see more than 1 dollar...if we think there are as many people as we thought holding the dinar... rv more than 1 dollar will bankcrupt iraq...

[lone ranger] if that be the case those coins are not going to have much value

[fishing] Linda Bower VIP

[Nadita] sonny1 I don't know where you are but what bank are you talking about...?

[lone ranger] nadita why think so small

[Linda Bower] We have 9 of us friends doing this, getting a better bank spread together might be advantageous

[sonny1] i will not say were, but my group and i are going to wells fargo, a member on this site is the vp of wells fargo, and 6 months ago he contacted me and closed me down on going to wells fargo, dont ask for who i will not say.....privacy

[sonny1] Linda Bower play different banks, even if you get a penny more its worth it

[Linda Bower] sonny1 Thanks

[lone ranger] i have a bank right where i live that will give u just what the thing is going for

[Nadita] sonny1 understood... thanks that what I thought

[richgirl] sonny1 so how much longer do you think it will take to rv?

[lone ranger] just a small home owned home operated bank

[sonny1] richgirl not sure, they stated in articles all weekend that the coins are ready now so we shall see

[Nadita] lone ranger this type of currency is called exotic currency.

[lone ranger] bought it there and will cash in there

[straightshot] sonny1 ... dont you think they would have to complete redenomination before they RV?

[richgirl] thank you sonny1.do you think it can still happen during ramadan?

[lone ranger] not for long

[sonny1] Straightshot they will rv then rd, rd is called smaller notes, it makes no sense to rd first, unless they dont want to build the private sector, and keep the whole country broke. imo

[Doug_W] sonny1 I agree

[Nadita] lone ranger did you buy circulated or uncirculated..? I guess it will not make that much difference with banks...?

[gp49] thanks sonny1 !

[straightshot] sonny1- ala RD to facilitate RV etc... (?)

[Doug_W] if U RD before U RV the smaller denoms are virtually worthless

[sonny1] did you guys know thatevery kuwaiti citizen is given 50,000 us a year just for being a citizen

[lone ranger] both you have to ask for what you want if they can get it it is yours

[richgirl] sonny1 do you think it can rv during ramadan?

[straightshot] sonny1 - I see that backwards from the way you see it... I think RD first will help to make IQD more attractive for RV... IMO

[sonny1] and iraq produces just as much as kuwait, and will be at 8mbpd in 2 years

[lone ranger] ordered VND one week got it the next week

[Linda Bower] sonny1 United Arab Emirates pays for every son born

[behaviorkat] sonny1 that is good money ~

[sonny1] iraq will follow kuwaits blueprint, not turkey, were the rd devalued the currency

[sonny1] see we dont know how much iraq has in dinar, the numbers from the people that think rd is 50 billion, i find that number is wayyyy off, in fact the just got back 250 billion from there dfi

[lone ranger] what about ramadumb can it happen during ramadumb

[sonny1] lone ranger your guess is as good as any

[sonny1] plus iraq can rv to 1.00 lets say, get alllll the dinar back and rv again, like i have been saying, and i have berkeley phd' d professors, and middle east economic professor's that say iraq will make trillions off of this rv.

[Nadita] sonny1 did you know when and what rate did Kuwait do their rv at...?

[sonny1] Nadita not off hand

[lone ranger] i like what your saying sonny

[straightshot] Adam said that lower denoms would have to be in place before RV... I agree

[Nadita] sonny1 I am sorry if I ask you too many questions...but this intriques me...

[lone ranger] well they are on their way

[Linda Bower] Nadita there used to be a guy in here that was in on the Kuwait RV- Ronin

[bobbidoll] Straightshot define in place ... 1 ready to go out or 2 in the hands of the people?

[Linda Bower] He claimed it floated up to 9 before it settled close to where it is now.

[straightshot] bobbidoll thats all adam said was in place

[straightshot] in circulation I presime

[RDP_62] I'm in place to be a millionaire,just not there yet

[bobbidoll] Straightshot hmmmm...... something to think about

[sonny1] since this is almost over, and articles are supporting that fact (coin articles) i wont be coming on much anymore, its time to finally enjoy summer, and stop looking at a computer screen. if you tend to believe the people that say they cant rv...great.....this rv is a no-brainer, they have plenty to cover it, and make a huge profit.......be safe

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kcw
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[sonny1] hello [sonny1] Lively bunch i see [Dinarkicker] sonny1 morning [kcw] sonny1 good morning [sonny1] how you guys doing? [kcw] sonny1 great and you? [sonny1] i am great, thanks [

sonny1
sonny1

i am no guru, i have been wrong before, but iraq making trillions is there plan, this plan has been 7 years in the making. imf-world bank-u.s treasury-gcc all have a say in this. everyone will win, an

easyrider
easyrider

When sonny 1 comes into chat heres his theme entance.

sonny1 Newbie

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You are the man sonny1. I got your back 10 fold. Have a great week end, thanks for stopping by.

pp

thanks p.p your awesome.

what i failed to mention in our debate last night, was the fact that iraq has 300 billion in there reserves (50+250 just regained from dfi) they can electronicly convert dollars to dinar, and have plenty to cover the rv. then after the rv re-configure.

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wealthbytrade Newbie

wealthbytrade

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Sonny1: I read your debate last night (thanks so much!). I tend to keep things very simple and logical in my mind (almost too simple for some people), and the gentleman that you were debating seemed very intelligent and he had all the facts and figures...but sometimes when people take on all kinds of facts and figures, they can't see the forest among the trees. He talked about Iraq having no private sector, their poverty level, and them being illiterate. My question is: what was Iraq like when Saddam (an oppressive dictator and mass murderer) was in power? It had no private sector and the people were oppressed (to say the least) and yet because of their oil (and their oil alone), their Dinar was around $3.00 in value...am I correct? The only reason why the Dinar plummeted is because their ruler was wiped out...leaving the country completely exposed.

Also, it happened almost over night. This is a very unusual circumstance...it's not like it's value gradually decreased (say like the USD). Now, I'm not a "$3.00 RV believer" (eventually, yes). But, it had that value at one point and you simply cannot overlook that fact. So if it plummeted overnight, why couldn't it increase "overnight"? It was this very simple line of thinking that brought me to the Dinar investment

I look forward to your comments. These aren't rhetorical questions...I would like to know if you think my line of thought is correct

Thanks sonny1!

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Darin Newbie

Darin

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thanks p.p your awesome.

what i failed to mention in our debate last night, was the fact that iraq has 300 billion in there reserves (50+250 just regained from dfi) they can electronicly convert dollars to dinar, and have plenty to cover the rv. then after the rv re-configure.

Actually, we are only speculating & assuming that the DFI funds will be added to the foreign reserves.

But, on a side note, what people fail to realize and account for is U.S. bonds that they have...

Some are short-term, some are long-term.

And.... their worth quite a bit :)

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drox Newbie

drox

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Hey guys, I so hope you are right but... IMO the $250Billion from the DFI was the total amount deposited in there since 2003! Not how much was transferred back into Iraq's control. I will say there is a lot of disinformation from this in the media so it is very confusing. The DFI usually has between $5Billion and $10Billion in the account after each year. Some of that is residual carry over from T-Bill investments year to year. I will say... that there is conflicting statements and understanding from the articles you be the judge. Here are 3 separate arguments below for you to determine what you think.

I think if they had those huge amounts they would have paid Kuwait the full $20 Billion outstanding immediately instead of just paying $1Billion as recent articles suggest they reduced the debt to $19Billion. Why not release yourself fully from Ch. 7 Kuwait issues if you got it???

Iraq is now in charge of its own finances. Its central bank has taken control of the DFI, which consists of an estimated $50 billion held at the Federal Reserve Bank of New York, and an Iraqi Committee of Financial Experts (COFE) will play the oversight and auditing role previously performed by IAMB.

So what the heck is going on here... This articles says $50 Billion in the DFI. http://uslaboragains...le.php?id=24409

Iraq's administration received two hundred and fifty billion dollars of oil money that had been under international trusteeship .. This figure, equivalent to more than three times the budget for Iraq this year, according to experts could add great strength of the financial position of Iraq on the international level. In addition, he gives the Iraqi government impetus to significant economic and freedom to choose investments that would like funding.

Read more: http://dinarvets.com.../#ixzz1RBV1xdDC

This article above says $250 Billion which you can read the article in full with the link provided. It was also dated July 04, 2011.

Then you have this:

http://www.iamb.info...20-%20Final.pdf

It says at the end of 2010 it had $7.5 Billion in the DFI and at the end of 2009 it had $9.9 Billion.

So how much is in there transferring from the DFI and which article is telling the truth??? :huh:

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Darin Newbie

Darin

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Posted

Hey guys, I so hope you are right but... IMO the $250Billion from the DFI was the total amount deposited in there since 2003! Not how much was transferred back into Iraq's control. I will say there is a lot of disinformation from this in the media so it is very confusing. The DFI usually has between $5Billion and $10Billion in the account after each year. Some of that is residual carry over from T-Bill investments year to year. I will say... that there is conflicting statements and understanding from the articles you be the judge. Here are 3 separate arguments below for you to determine what you think.

I think if they had those huge amounts they would have paid Kuwait the full $20 Billion outstanding immediately instead of just paying $1Billion as recent articles suggest they reduced the debt to $19Billion. Why not release yourself fully from Ch. 7 Kuwait issues if you got it???

This article above says $250 Billion which you can read the article in full with the link provided. It was also dated July 04, 2011.

Then you have this:

http://www.iamb.info...20-%20Final.pdf

It says at the end of 2010 it had $7.5 Billion in the DFI and at the end of 2009 it had $9.9 Billion.

So how much is in there transferring from the DFI and which article is telling the truth??? :huh:

I was reading a "huge" PDF file the other day showing that each year they were showing a surplus.

But they claim a defecit when they do their budget.

Strange, right? You read one thing somewhere & the opposite from another angle.

Stressful at times.... Which to believe? (Depends, are you optimistic, or pessimistic...)

Their revenues were exceeding their expenditures every year... Where was that money funneled to?

I think they have some T-Bills which could be put into play in the foreign reserves, but even that is questionable at times.. Upon maturity, where is that $ going?

I think the duration of t-bills goes 3 mo., 6 mo., & 1 year.

I would love to find more detailed information on the following:

How many T-bills they own

When each T-bill will mature

& How much each T-bill will be worth upon maturity

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drox Newbie

drox

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I was reading a "huge" PDF file the other day showing that each year they were showing a surplus.

But they claim a defecit when they do their budget.

Strange, right? You read one thing somewhere & the opposite from another angle.

Stressful at times.... Which to believe? (Depends, are you optimistic, or pessimistic...)

Their revenues were exceeding their expenditures every year... Where was that money funneled to?

I think they have some T-Bills which could be put into play in the foreign reserves, but even that is questionable at times.. Upon maturity, where is that $ going?

I think the duration of t-bills goes 3 mo., 6 mo., & 1 year.

I would love to find more detailed information on the following:

How many T-bills they own

When each T-bill will mature

& How much each T-bill will be worth upon maturity

The truth is neither optimistic or pessimistic. It is merely the truth and the starting point for one to become one of the two. I need the truth so I can make realistic guesses and spot trends.

To me... The DFI was a flow through account that paid for most everything in Iraq. The oil industry makes up 90% of the GDP and that revenue was forced to go through the DFI for UN auditing purposes and so that they could subtract out 5% to the Kuwait fund. So if it makes up 90% of GDP and is only a savings account how the heck was Iraq paying for anything else? The answer to me is that it flowed right back through. To me... the money comes in and goes into a T bill account to earn interest, at the same time... other T bills are maturing and being released to Iraq to pay for infrastructure and GOI services. It is a flow through with a interest mechanism. That is my opinion.

I agree that it is totally confusing about the surplus and deficit numbers. A lot of times they are referring to completely different things though and we just jumble them together. It is not uncommon for them to be in a budget deficit. They plan on that deficit because they hope oil prices will be higher than the budget number they base their projections of the budget on. Hoping the difference will be made up. If their revenues were exceeding their expenditures why would they require the IMF assistant stand-by loans for the budget shortfalls year after year? I think a lot of the times the ministries might not have been spending the monies too. Pehaps the surplus was the interest from the DFI? All depends on the context of what you read I suppose. Projects that failed or contractors that walked away stuff at years end could leave them with a surplus too. I dunno! :D

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Darin Newbie

Darin

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It would be interesting to see what they do with some T-bills that mature.. I think I recall hearing one is worth roughly 90 billion USD.

I would try and post a PDF file that shows they have a surplus year after year, but... I don't have access to it at the moment.

It also went into great detail about their exports - and it appears they export quite a bit of stuff.

They were slightly in a defecit when you do not account for crude exports, and when you account for crude exports, they enter a surplus.

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