SLASH IS BACK!!! RV @ $3.45!!!!

[Up North]

Why would Iraq have made a deal to sell their oil at 1/3 of the market rate? That seems like a silly thing for them to have done, what is in that for them? I've heard lots of speculation about it, but zero actual evidence. If exchanged dinars stay at the fed, then the dollars they give you in exchange are just inflating our M2, a bad thing.

You better contact the GOI and tell them in your expert opinion how silly they are, I mean you obviously know more about the GOI and the CBI than maliki and shabbs.

[TFK]

HEY *******........ I HAVE BEEN HERE FOR A VERY LONG TIME...... DON'T OH PLEASE ME!!! I HAVE READ ENOUGH BS ON HERE, SO DECIDED TO SPEAK UP!!! DON'T ASSUME THAT EVERY "NEWBIE" JUST FOUND THIS SITE, MAKES YOU LOOK LIKE AN ARROGANT ***!!!

Uh oh, edited by the piggy. Be nice!

[capt.cliff]

right on SteveH , that deal was cut long ago on dinars for oil----should you research far enough back then one of our upstanding dinar selling sites said he would pay the Same rate as the CBI---as he was starting his own bank in Iraq-that piece of fluff made everyone salivate--NO SPREAD just the fee , where is the profit for selling the dinars back to Iraq --there is none except for the 150 dollar exchange fee or the rise in dinar value, IMOP a crap shoot---hardly profitable on the amount of guaranteed cash exchange they would to have on hand just for the electronic banking end.--well that didn't happen , bank didn't happen and now located outside of the US with nothing but promises for cash in! not saying it is bogus but if above board why relocate outside the US!---Our Banks exchange thru the US. Treasury---we turn into them pay the bank spread who then uses the CBI spread to determine what we will really cash in at----then The IRS gets involved and we see out real bottom line----FACT not a spin job!

AS far as whether or not Iraq can support a rate of 3+ dollars is another crap shoot, my uneducated opinion is yes they canstartingn g Islamic banking is a positive sign--it gives analternativee to the general population who wants to be devote totheirr faith but the reality is to become an international player they have to use the same systems as the rest of the world---eventually it will erode the away as the older population passes and the younger , more educated citizens --you know the ones who want the western jeans, mp3 players and educated to the point that they f

ill in the the gap of old to new---won't happen overnight but the Rv/RI is the first real start to Iraq to become a world power and change theineighborsos also----the neighborinpopulationsis already are questioning WHY, the ME powers to be are shaking in their burnooses as they see their hold slipping away----Interesting time coming up! verturbulentnindeedde!

Just my opinion

capt cliff

[jg167]

When it comes down to it, the amount of IQD that will need to be cashed out through the CBI for US Dollars or any other currency will be minimal.

I've never said 60T will come in for exchange, the figure I usually use is 1T. Further the idea that the fed would just sit on it I think does not make sense as this would inflate the US M2 by the amount they credit and 1T USD is about 12% of our M2, a very big jump. So I don't think it can happen this way. This http://en.wikipedia.org/wiki/Foreign_exchange_reserves#List_of_countries_by_foreign_exchange_reserves says the US has $143B USD worth of foreign currency reserves. Adding to that a few billion or even a few 10s of billions of dinars might be workable, but a T? I don't think so. Is there a trillion dinar being held by investors in the US, no idea. But even if its only 100B dinar (so 100,000 pepole with 1M each, does not sem unreasonable) that would still be 2/3 or the foreign reserves of ALL other countries, so I don't think this is realistic. A big slice of this has to find its way back to Iraq.

Further it isn't just the exchange at RV, its the exchange from ongoing imports. If many many iraqi's are suddenly millionaires, they will want to buy a lot of stuff, stuff that is manufacture elsewhere. But BMW does not want dinars for their cars, they want Euros. So all that import business will call for more exchange, how is that sustainable for a country that pulls in maybe $50B dollars in oil revenues?

[SLASH]

Fair enough, so you're just here to pump the forums full of your nonsensical spewage. Thanks for making that clear. Hopefull this board has an "ignore user" option...

ISN'T THAT WHY EVERYONE IS HERE JG? NO ONE HAS FACTS ON THE DATE & RATE, SO ISN'T IT ALL SPEWAGE? IGNORE ME AND GET OFF MY POST IF YOU DON'T LIKE IT. I WILL SURELY BE IGNORING YOU AND YOUR IGNORANT SPEWAGE!!!

[cisole]

This is getting out of hand, closing topic.