Nighth11 9/13 (posted 9/14)

[Legolas]

Then where does "full faith and credit" fit in? I thought that also had bearing on the backing of currency. Not just how many were printed and/or traded. Of course, I could be wrong, have been several times before, but I really did think this was what gave a currency its backing.

"Full faith & credit" means nothing more than trust in, and credit-worthiness of the government backing the currency. Basically it means that the government will stand behind the value of its currency. Nothing to do with gold.

[krome2ez]

First, thank you!!

krome2ez For bringing this to us at DV. Do me a favor and contact knight11 . I, WE, would like to hear more from him HERE on DV. Again , Thank You.

Knight11, come back to dinar vets, PLEASE.

Sorry, I don't have his phone number.

I found this post on another site and brought it here.

I do like Night's review on the current situation.

[truthful1]

Is that what you would say about Sonny1 and Scooter? Doc31 doesn't post everyday like he did. These people got tired of something, and it was not because they were wrong. Far from it.

No. I can document how many times night said it was done if you like. im not in the know about sonny1 or scooter. Were all thankful to those who contribute, no question. But ive read where night has called it several times in the past. unlike you, i dont hold back on those who make such claims, and always with no evidence. theres quite the archives on nightk, maybe you should reread those accalades of its done. i can go back and count the number of times he said the rv is done, if that would make you feel better about my comments.

[NotAChance]

Typical rubbish. There are no "facts" in his post. It's strictly an opinion piece. And it sounds pretty defensive to me. Maybe he figures if he says it strongly enough if will be more believable. The guy is a liar. Has been from the time he started posting. It does nothing but stroke his own ego.

[powerpager]

Killer Post !!!

[Francie26]

No. I can document how many times night said it was done if you like. im not in the know about sonny1 or scooter. Were all thankful to those who contribute, no question. But ive read where night has called it several times in the past. unlike you, i dont hold back on those who make such claims, and always with no evidence. theres quite the archives on nightk, maybe you should reread those accalades of its done. i can go back and count the number of times he said the rv is done, if that would make you feel better about my comments.

Perhaps he says this because he knows it always had been done, perhaps even from the beginning. Just sayin'

[SurfingTheDinarWave]

More BS.

The Dinar is a fiat currency and is not backed by gold!

your statement is not true at all!!

The dinar is backed by gold & other precious metals...Shabibi is a slick dude he made you think it was oil backed the whole time or fiat on purpose, he's no fool he knew who the corrupt people in the GOI were the whole time!!

[SurfingTheDinarWave]

So I got 3 minus's for my post disputing Nighth11's post that said the new dinar will be backed by gold.

Perhaps it was disrespectful for me to have added the "more BS" to my post but it does get frustrating reading statements that I believe are not based on fact, no matter who posted it. I apologize for the BS part but I would request that Nighth11 post a reputable link to back up that statement. We are all on this journey together and we are continuously fed inaccurate information that sounds like fact.

Today, not a single solitary currency on the face of the world is backed even 1% by gold or silver, as all nations have inflated their currencies to unprecedented levels in the past 50 years.

The Dinar is a FIAT currency, and like other FIAT currencies, it's value is derived by how many are printed and traded.

Every country on Earth has debt-based money (FIAT currencies) including the Iraqi Dinar. No country has an asset backed anything and hasn't for decades since the world came off the gold standard..

There seems to be a misconception on how the currency is valued which is a key point in any RV discussion.

Hmmm, seems like your missing the point of some simple words such as the word "MAJOR currencies" you are right that the major currencies of the world are not gold backed but that does not mean the minor ones are not also. Countries such as Peru and several other smaller countries have been and will always be gold backed, besides the Dinar is not a "Major Currency" it would not fall into this category until it has international trading power and has a revalue occur!

[Biker]

Wish it was all true but i dont think so, we will see it one day but not soon i dont think. They go two steps foward and one step back every week.

[sheik]

"The decision to RV the dinar has been made and cannot be stopped at this point"

No it hasn't. If it had, it would have happened already.

" I have been informed that it will happen this week or by the 15th"

You were unformed by? OH OKIE. That explains it.

I'll say this.. you are one funny guy.(see Joe Pesci in Goodfellas)

[NYer]

Hmmm, seems like your missing the point of some simple words such as the word "MAJOR currencies" you are right that the major currencies of the world are not gold backed but that does not mean the minor ones are not also. Countries such as Peru and several other smaller countries have been and will always be gold backed, besides the Dinar is not a "Major Currency" it would not fall into this category until it has international trading power and has a revalue occur!

Where are you getting the info to back up your statement that the Peruvian currency is backed by gold. Perhaps I am mistaken but when I google Peruvian currency all the sites say the same thing. I am all about learning new things so please post a link?

Also, the original poster indicated that the NEW RV'd dinar would be backed by gold so I don't understand your point.

Thanks.

Since leaving the gold standard in 1930, Peru is now on its third paper currency. The overall hyperinflation has been a one billionfold revaluation of the original Soles de Oro:

[NYer]

your statement is not true at all!!

The dinar is backed by gold & other precious metals...Shabibi is a slick dude he made you think it was oil backed the whole time or fiat on purpose, he's no fool he knew who the corrupt people in the GOI were the whole time!!

Please do some research. The dinar is a fiat currency and is not backed by gold, oil or any other precious metals.

[NotAChance]

your statement is not true at all!!

The dinar is backed by gold & other precious metals...Shabibi is a slick dude he made you think it was oil backed the whole time or fiat on purpose, he's no fool he knew who the corrupt people in the GOI were the whole time!!

Wrong! It's backed by nothing. It's a fiat currency. It has value only by decree of the Central Bank of Iraq. It is not convertible to gold or any other precious metal. You cannot take your dinar to the CBI and exchange them for gold or oil. There isn't a single currency in the world that is backed by gold. Every single one has value only by fiat of the issuing gov't. Do your homework before you spout off about something of which you know nothing. Or, conversely, provide a link that supports your assertion that the dinar is backed by something.

[NYer]

Wrong! It's backed by nothing. It's a fiat currency. It has value only by decree of the Central Bank of Iraq. It is not convertible to gold or any other precious metal. You cannot take your dinar to the CBI and exchange them for gold or oil. There isn't a single currency in the world that is backed by gold. Every single one has value only by fiat of the issuing gov't. Do your homework before you spout off about something of which you know nothing. Or, conversely, provide a link that supports your assertion that the dinar is backed by something.

Thank you NOTACHANCE for posting this to back up what I have been saying. I find it very upsetting when people post things as fact without knowing what they are talking about or doing research. All they need to do is google fiat currency instead of debating me. This type of misinformation is what the pumpers use to back up much of the inaccurate info they spew to pump sales with the newbies.

[Legolas]

The Swiss Franc was the last currency to give up the gold standard, and that was more than 9 years ago. I'm 99.9% certain (not PTR percentages btw) that there are no world currencies still backed by gold. NYer and NotAchance are correct, as was truthul1 regarding Night's hundreds of incorrect intel claims. It's all VERY clearly documented for any non-believers/pumper supporters.

[NYer]

The Swiss Franc was the last currency to give up the gold standard, and that was more than 9 years ago. I'm 99.9% certain (not PTR percentages btw) that there are no world currencies still backed by gold. NYer and NotAchance are correct, as was truthul1 regarding Night's hundreds of incorrect intel claims. It's all VERY clearly documented for any non-believers/pumper supporters.

Way to go Legolas!!