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The Real Story On The Dinar!


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yes 3 countries that their debt owed is already covered by the DFI fund, which is why it went from 489 billion to 248 billion that remains, just keep beating a dead horse in the mouth don't ya!

There was a lot of money that went THROUGH the DFI fund, however when the CBI was stating the CURRENT balance of the DFI fund, why would they state that there was only 8.7 trillion dinar, or the equivalent of $7.4 BILLION USD in 2010?

That is not my claim, but the claim as stated in the IMF documents available HERE. Where is the stated $248 billion you claim is CURRENTLY in that account, after the debts to Saudi Arabia, Turkey and Kuwait were paid?

If you are wondering what I am referring to, it is on page 8 of the document, just above the proposed 2012 budget deficit is discussed on page 9.

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Hey fellow forum peeps,

I would really like to see Shabbs come out and answer this question live:

"Dr. Shabbibi, if I have a 25K IQD note and took it to a forex bank teller, approximately what amount in USD what I get in return?"

That would just be super damn cool.

They have to do something soon, and there is enough logic and data on both sides of these arguments to support, so the only logical choice of action is to invest considering how inexpensive the dinar is. Do you all feel the same way?

TREXXX :mellow:

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Hey fellow forum peeps,

I would really like to see Shabbs come out and answer this question live:

"Dr. Shabbibi, if I have a 25K IQD note and took it to a forex bank teller, approximately what amount in USD what I get in return?"

That would just be super damn cool.

They have to do something soon, and there is enough logic and data on both sides of these arguments to support, so the only logical choice of action is to invest considering how inexpensive the dinar is. Do you all feel the same way?

TREXXX :mellow:

The short answer is that neither Iraq nor Shabibi (CBI) would ever state they are going to revelue the dinar to 100,000% or higher.

A rate increase from the current $0.000865 to $0.86 would in fact be an increase of 100,000$, or 1,000 times increase. Some state that the increase will be lower to say $0.10, which would still be an increase of about 10,000% or 100 times increase in value. I have not yet found one country that has devalued their own currency, then subsequently raised the value of their own currency to meet those levels.

Will Iraq be the first to do so? Possibly. There is no precedent before to show that it can be done. But if they are hiding assets to support it, which the IMF is also hiding, then it is possible - maybe. But it is probably not an venture you wish to bank your future on. There is a potential to make a profit, given some time. But if you are looking for quick returns, the dinar is probably not the answer to the financial woes.

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Oh and one more thing Keep,

It seems you failed to pay attention to current events which revealed that Iraq past has been erased by every country in the world to allow them to start from scratch with a clean slate, and yes that is how it works when you make amends, seems as though they are doing big business all over the world bringing in all kinds of new revenue streams because of it as well!! Where ya been oh yeah stuck in the lopster tank, they don't let you get out to stretch your claw much do they?!

Once again, just cause alot of their debt was erased by other countries doesnt mean that the Dinar has to absolutely straight up RV.....

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Once again, just cause alot of their debt was erased by other countries doesnt mean that the Dinar has to absolutely straight up RV.....

If it matters coming from an old man… keep you are good at argumentative writing, entertaining in style, well studied and highly intelligent. But most of all your defensive of the truth is inspiring. Makes old man laugh. I hope all your dreams come true and with the different styles of writing I see you use I can tell you will be a good father.

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If it matters coming from an old man… keep you are good at argumentative writing, entertaining in style, well studied and highly intelligent. But most of all your defensive of the truth is inspiring. Makes old man laugh. I hope all your dreams come true and with the different styles of writing I see you use I can tell you will be a good father.

I can't help but to simply give a +1 for that reply. :D

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Billions over Baghdad

09/15/2011

(Dinar Recaps Ed: This emailed to us from Dave. Not sure of the origins or validity of the claims stated.)

For those doubting the validity of the upcoming revaluation of the Iraqi dinar, feel free to pass this on to them:

The article below, Billions over Baghdad, written by John B. Taylor, under secretary of the Treasury from 2001 to 2005, and the author of “Global Financial Warriors”, is a concise explanation of the beginnings of the plan to devalue, print a new dinar currency, then revalue (RV) the Iraqi dinar. It was first conceived by Cheney & Greenspan, et al, and then put into action before the first shot was ever fired in the Iraqi War. It also gives credibility to GW Bush when he expressed many times as to how this war would pay for itself, namelyOIL. Iraqi oil at less than $33/barrel coming to the USA.

The 3-5 trillion Iraqi dinar currently held by the US treasury will be returned to Iraq beginning 6 months from now in exchange for oil at the lower price. This, in part, is how Iraq will finance this revaluation. One barrel of oil will cost the US roughly 6 dinar currently held by the US Treasury. That barrel of oil actually costs Iraq from $1.00 to 4.00 to produce. This equates to approximately $.20 to $.50 per dinar (not the $4+ connected to the upcoming RV). Spread the costs of this exchange of dinar for oil out over several years or decades amidst the back and forth commerce of unprecedented proportions between the two countries, and it is clear that the actual costs of dinar for oil will hardly be felt at all.

Iraq will gain so much from international trade and commerce following the rebuilding phase currently underway, that, from this alone, the sum total of the RV could be financed. This is not really hard to imagine when you understand that the FOREX market itself moves (circulates) over 4 trillion dollars worth of currency in a single day. International commerce trades much more than that in a day. The key here is "back and forth". The same money will be recycled many times in many ways, and from this, bills get paid.

In 2003 the new Iraqi currency series was sent by ship, and also flown by twenty seven 747's, into Iraq right during the war. That new series is the very SAME dinar that we all presently hold awaiting its revaluation.

Bottom line is this: The events in Iraq are part of a long standing plan. Now, over 2 million Americans hold an average of 1 million dinar. Every government in the world owns large amounts of dinar with the expectation of leveraging their countries into a lower state of debt. (Have you wondered why the papers have reported numerous "forgiveness of debt" deals being made at national levels lately?)

Most of us, as average American citizens, are only involved in this investment because the election for a new Prime Minister of Iraq last March (2010) was inconclusive, resulting in a 9 month delay (to Dec 15th) to confirm Maliki as the PM. Tens of thousands got wind of this investment during that 9 months. This was followed by another five months to complete the technical infrastructure on the banking and FOREX sides, iron out the last minute back room deals, settle all Chapter 7 requirements, negotiate the payment of debts, and officially form the Iraqi government/cabinet with the final Security Minister being positioned and announced concurrently with the RV.

On Feb 25th, 2011 the Iraqi Minister of Trade formally requested being granted permanent membership into the World Trade Organization as a fully fledged member, rather than as an observer member. Such an appointment can only be made if all Chapter 7 sanctions have been removed and their currency is tradable on the open market. (via Google Translator)

http://translate.google.com/translate?hl=en&prev=hp&rurl=translate.google.com&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/2/220831/

Word has spread 'round the globe, partly due to the diligent efforts of the dinar forums, which have complied vast amounts of research, data and first hand intel, in an effort to determine, and plan for, the two most important pieces of information associated to this grand event – "the rate" and "the date".

120+ countries will see changes in their currency values along with Iraq upon the initiation of this unprecedented event. Each nation's currency rate will ultimately (if not immediately) be based mostly on the nation's assets (precious metals, oil, gas, GDP, etc.). See the article in Business Line "Drifting Back to the Gold Standard"

http://www.thehindubusinessline.com/opinion/columns/s-s-tarapore/article2032360.ece?homepage=true

The revaluation of the Iraqi dinar is the beginning of the greatest wealth transfer in the history of modern man. The economic structures of the world are currently undergoing their most profound change in economic history. I anticipate that we will see the biggest economic boom the world has ever known taking shape over the next 50 years. We are all part of this history now being made!

Now is the time to prepare the foundation for your future of abundance so you can devote yourself to the pursuit of your purpose and your passions. Be diligent, study, learn and prepare!

May your brightest dreams become physical reality,

xyz

Below is the article that reveals just how the plan to RV the Iraqi dinar got started and who was behind its implementation:

February 27, 2007

Op-Ed Contributor

Billions Over BaghdadBy JOHN B. TAYLOR

http://www.nytimes.com/2007/02/27/opinion/27taylor.html

Stanford, Calif.

EARLIER this month, the House Committee on Oversight and Government Reform held a hearing that criticized the decision to ship American currency into Iraq just after Saddam Hussein’s government fell. As the committee’s chairman, Henry Waxman of California, put it in his opening statement, “Who in their right mind would send 360 tons of cash into a war zone?” His criticism attracted wide attention, feeding antiwar sentiment and even providing material for comedians. But a careful investigation of the facts behind the currency shipment paints a far different picture.

The currency that was shipped into Iraq in the days after the fall of Saddam Hussein’s government was part of a successful financial operation that had been carefully planned months before the invasion. Its aims were to prevent a financial collapse in Iraq, put the financial system on a firm footing and pave the way for a new Iraqi currency. Contrary to the criticism that such currency shipments were ill advised or poorly monitored, this financial plan was carried out with precision and was a complete success.

The plan, which had two stages, was designed to work for Iraq’s cash economy, in which checks or electronic funds transfers were virtually unknown and shipments of tons of cash were commonplace.

In the first stage, the United States would pay Iraqi government employees and pensioners in American dollars. These were obtained from Saddam Hussein’s accounts in American banks, which were frozen after he attacked Kuwait in 1990 and amounted to about $1.7 billion. Since the dollar is a strong and reliable currency, paying in dollars would create financial stability until a new Iraqi governing body was established and could design a new currency. The second stage of the plan was to print a new Iraqi currency for which Iraqis could exchange their old dinars.

The final details of the plan were reviewed in the White House Situation Room by President Bush and the National Security Council on March 12, 2003. I attended that meeting. Treasury Secretary John Snow opened the presentation with a series of slides. “As soon as control over the Iraqi government is established,” the first slide read, we plan to “use United States dollars to pay civil servants and pensioners. Later, depending on the situation on the ground, we would decide about the new currency.” Another slide indicated that we could ship $100 million in small denominations to Baghdad on one week’s notice. President Bush approved the plan with the understanding that we would review the options for a new Iraqi currency later, when we knew the situation on the ground.

To carry out the first stage of the plan, President Bush issued an executive order on March 20, 2003, instructing United States banks to relinquish Mr. Hussein’s frozen dollars. From that money, 237.3 tons in $1, $5, $10 and $20 bills were sent to Iraq. During April, United States Treasury officials in Baghdad worked with the military and the Iraqi Finance Ministry officials — who had painstakingly kept the payroll records despite the looting of the ministry — to make sure the right people were paid. The Iraqis supplied extensive documentation of each recipient of a pension or paycheck. Treasury officials who watched over the payment process in Baghdad in those first few weeks reported a culture of good record keeping.

On April 29, Jay Garner, the retired lieutenant general who headed the reconstruction effort in Iraq at the time, reported to Washington that the payments had lifted the mood of people in Baghdad during those first few confusing days. Even more important, a collapse of the financial system was avoided.

This success paved the way for the second stage of the plan. In only a few months, 27 planeloads (in 747 jumbo jets) of new Iraqi currency were flown into Iraq from seven printing plants around the world. Armed convoys delivered the currency to 240 sites around the country. From there, it was distributed to 25 million Iraqis in exchange for their old dinars, which were then dyed, collected into trucks, shipped to incinerators and burned or simply buried.

The new currency proved to be very popular. It provided a sound underpinning for the financial system and remains strong, appreciating against the dollar even in the past few months. Hence, the second part of the currency plan was also a success.

The story of the currency plan is one of several that involved large sums of cash. For example, just before the war, Saddam Hussein stole $1 billion from the Iraqi central bank. American soldiers found that money in his palaces and shipped it to a base in Kuwait, where the United States Army’s 336th Finance Command kept it safe. To avoid any appearance of wrongdoing, American soldiers in Kuwait wore pocket-less shorts and T-shirts whenever they counted the money.

Later, American forces used the found cash to build schools and hospitals, and to repair roads and bridges. Gen. David Petraeus has described these projects as more successful than the broader reconstruction effort.

But that wasn’t the only source of dollars. Because the new Iraqi dinar was so popular, the central bank bought billions of United States dollars to keep it from appreciating too much. As a result, billions in cash accumulated in the vaults of the central bank. Later, with American help, the Iraqi central bank deposited these billions at the New York Federal Reserve Bank, where they could earn interest.

Finally, when Iraq started to earn dollars selling oil, the United States transferred the cash revenue to the Finance Ministry, where it was used to finance government operations, including salaries and reconstruction. Many of these transfers occurred in 2004, long after the financial stabilization operation had concluded. Iraqi Finance Ministry officials had already demonstrated that they were serious about keeping the controls they had in place. The 360 tons mentioned by Henry Waxman includes these transfers as well as the 237.3 tons shipped in 2003 in the stabilization.

One of the most successful and carefully planned operations of the war has been held up in this hearing for criticism and even ridicule. As these facts show, praise rather than ridicule is appropriate: praise for the brave experts in the United States Treasury who went to Iraq in April 2003 and established a working Finance Ministry and central bank, praise for the Iraqis in the Finance Ministry who carefully preserved payment records in the face of looting, praise for the American soldiers in the 336th Finance Command who safely kept found money, and yes, even praise for planning and follow-through back in the United States.

John B. Taylor, under secretary of the Treasury from 2001 to 2005, is the author of “Global Financial Warriors.”

People, this plan was not intended for us it was to be shut out of our lives so we couldn't even get in, thank you for those of you who were bold enough to make the masses aware of this investment, we all owe you our blessings and good favor in your future endeavors when this comes to a close!!

I read all this a while back. Then I researched the old articles. Some of the things in the story was fact. Some of it wasnt in the original articles. Beats me . It may all go just like all you optimist say it will . I dont think I am a pessimist . I just like a accurate measure. Some thing are easy to see fact from fiction. In this dinar game we are overwhelmed with lies on a regular basis. Some start them and other with good intentions spread them. I just love to hear and spread good news myself. It makes me feel good if I believe it. It makes me feel bad when I find out it was lies. I hope it happens and I hope its big. Not reading too much on here anymore. This is the cleanest openest site but still there is too much BS. I dont think there are too many true believer. If there were this site would be dead. Nobody would be looking for proof all the time. I see a lot of people that are very hopeful. I spend $12 to $20 a week on lottery drawings. If I never win it will have all been worth it.

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yes from 35% one month to the next 10% then RD so you said it yourself, dancing around the point again, how is this the same situation if Iraq has been less than 10% inflation for the past 5 years and at times the top 3 lowest countries with inflation up until March of this year? JETS to BIKES, you see how you tried to manipulate it to fit your agenda Turkey had 2 weeks of a 10% inflation rate coming off a month that was 35% the month before was 48%. While Iraq, was steadily less than 3% for 4 years 3 months and then started climbing a little bit each month since they are going in 2 different directions and every element is at the oppsite end of the spectrum from each other those are the FACTS!!

You never corrected me

The specific amounts of percentage of inflation and how many days or weeks it has been that way dont matter......

Ill say it again cause you arent getting it......They BOTH had hyperinflation, both had a diluted money supply and both countries did not have any pride in using their own freakin currency!!

Not all countries do the EXACT same thing at the same times....They both are/have been talking about removing zeros and the CBI has mentioned using Turkey as a template to follow for what they plan on doing with the Dinar....

And yes I have corrected you on many occasions.....You always end up backtracking and then tryin to tell me that you knew it already LOL

Just the act of you posting this thread brings down your credibility level even more....

You gotta do better then that here on DV or you will get called out for it....

If it matters coming from an old man… keep you are good at argumentative writing, entertaining in style, well studied and highly intelligent. But most of all your defensive of the truth is inspiring. Makes old man laugh. I hope all your dreams come true and with the different styles of writing I see you use I can tell you will be a good father.

Thank you sir!! biggrin.gif

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Iraq has never stated they were following what turkey did. Iraq only said that they were taking turkey as an example not to do that because it was a failure in turkey. Go back and re-read the articles about that instead of thinking you are correct. You are not correct, and neither are the other negative people preaching the so-called lop theory. If I were you people, I would stop even coming on this site, because nobody believes you anyway, and you are doing nothing but sowing discord. Get a life losers!

laugh.giflaugh.gif So referrencing in the delete the zeros articles about how Turkey dropped 6 zeros when they redenominated in 2005 means that Iraq doesnt want to do it?? WOW!!!

Turkeys lop was a complete failure?? LOL How so?? They are doing pretty well and even revalued their currency again by a few % points.....their currency is almost equal with the USD now, they have MANY exports that are in the top 10 in the world and they have been able to keep inflation below 10% since 2005.....are you getting your information from Okie again?? laugh.gif

Instead of repeating what we all want to hear, take a little time and look up some of this information for yourself cause its apparent you havent taken the time to verify anything you just said.....

Dont get so upset when the truth comes around.....Not saying Iraq is def going to redenominate cause I dont know....but its pretty ignorant to just ignore what you cant handle emotionally....you should remove all emotion from this investment when researching and verifying....

Edited by keepmwlknfny
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And confirms the expert's central bank that «the application of the new project to raise three zeroes from the Iraqi dinar and the currency exchange, will be according to mechanisms scalable in the form is not felt by the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace it, and it remains only in the possession of the citizens of the trading day , and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar ».

He noted that the «Central» sought the expertise of countries have taken the same action, such as Turkey and Romania, as well as experts from the IMF.

http://translate.google.com/translate?hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&twu=1&u=http://www.pukmedia.com/2009-10-23-12-01-47/19035-2011-07-31-07-52-20

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Iraq has never stated they were following what turkey did. Iraq only said that they were taking turkey as an example not to do that because it was a failure in turkey. Go back and re-read the articles about that instead of thinking you are correct. You are not correct, and neither are the other negative people preaching the so-called lop theory. If I were you people, I would stop even coming on this site, because nobody believes you anyway, and you are doing nothing but sowing discord. Get a life losers!

Like I said.....it takes only a few moments to look into these topics and find a clear answer.......This article explains it quite well....again, before reading this forget that you have dinar all together because the endless hope of becoming rich overnight will cloud your logic and legitimate thought process.....I hate it as much as anyone else but the facts are facts....Turkey was SUCCESSFULL in deleting their zeros......

Iraq’s Central Bank Considers New Currency

Posted on 18 July 2011. Tags: Central Bank, dinar, iraqi dinar, re-denomination, Redenomination, revaluation

Iraq’s Central Bank says the country is in need of a new currency in which the current zeros are removed to facilitate commercial transactions, according to Azzaman.

The bank’s Governor, Sinan al-Shabibi, said he was in talks with the prime minister, Nouri al-Maliki, on how to go ahead with the bid to issue currency with a lower denomination and higher value.

Shabibi said Iraqis were now relying a lot on the U.S. dollar, particularly in settling cash transactions that required a lot of money.

The use of credit cards is still limited in Iraq and cash is still the main source in trade and commerce.

Allocations even for small projects and to carry out simple commercial deals are in millions or billions of dinars.

Three bundles of $10,000 require carrying or paying about 40 million dinars.

The new arrangement, once implemented, will make transactions simpler and easier, the Central Bank governor said.

Calculating and paying with the current currency makes trade deals rather “awkward and difficult” for a small country like Iraq, Shabibi said.

Other countries, like Turkey and Brazil, successfully dealt with the same problem by removing zeros from their currency.

In Turkey, people dealt with millions of liras for simple purchases and transactions. Today a dollar is worth about 1.6 new liras.

Shabibi said there was a lot for Iraq to learn from Turkey.

LOL you beat me to it!

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If it matters coming from an old man… keep you are good at argumentative writing, entertaining in style, well studied and highly intelligent. But most of all your defensive of the truth is inspiring. Makes old man laugh. I hope all your dreams come true and with the different styles of writing I see you use I can tell you will be a good father.

Chas32,

I think you will get a lot of positive response from those who habitually try to reinforce fact over fiction.

It was a great post, and I gave it a + 1 also.

I would have given more if I could, as those that refuse to accept what KeepM brings to the discussion may carpet bomb you.

I certainly hope not, but many would rather not view the possibilities.

Anyway, it is refreshing to see someone give a compliment backed the the introspective eye of experience.

Kudos, your Kung Fu is very strong; that's a good thing.. ;)

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Iraq has never stated they were following what turkey did. Iraq only said that they were taking turkey as an example not to do that because it was a failure in turkey. Go back and re-read the articles about that instead of thinking you are correct. You are not correct, and neither are the other negative people preaching the so-called lop theory. If I were you people, I would stop even coming on this site, because nobody believes you anyway, and you are doing nothing but sowing discord. Get a life losers!

We consistently see a lot more negativity and sowing of discontent from your posts; not keeps.

Unfortunately, whoever that is trying to make their point by lying about the outcome of Turkey; which is Shabibi's comparison as a successful operation, has you doing the same by repeating their false message.

There is no theory to the undisputable fact that the CBI has a plan for redenomination before parliament.

It has been a long time coming, and is getting a lot of resistance from the Maliki camp.

That plays out well for us, and it may either delay restructuring, which would be good for us.

The downside being it may simply start the spiral of inflation again.

Nobody on DV that understands what the CBI is trying for is looking forward to them achieving their goal, if there is another possible outcome.

It is only those who have to resort to lies and distortions of the obvious truth, rather than adding to the discussion to try to find the best way to profit from the possibility of a RD that are causing the problems here; not the ones who acknowledge what the CBI has planned for the past five years may actually happen.

If you have an aversely for fact, that is your privilege. At least have the presence of mind to acknowledge fact when it is right in front of you.

If you want to lash out at someone, consider pointing your disapproval towards the ones who are doing the lying and distorting the truth.

There has been far too much negativity from those who have to lash out at others as proof of life.

I am usually a bit more diplomatic in my approach, but this message needs to be blunt.

Blame the liars; not the ones willing to acknowledge truth. Then you can help stop the negativity you bring by blaming the wrong ones.

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We consistently see a lot more negativity and sowing of discontent from your posts; not keeps.

Unfortunately, whoever that is trying to make their point by lying about the outcome of Turkey; which is Shabibi's comparison as a successful operation, has you doing the same by repeating their false message.

There is no theory to the undisputable fact that the CBI has a plan for redenomination before parliament.

It has been a long time coming, and is getting a lot of resistance from the Maliki camp.

That plays out well for us, and it may either delay restructuring, which would be good for us.

The downside being it may simply start the spiral of inflation again.

Nobody on DV that understands what the CBI is trying for is looking forward to them achieving their goal, if there is another possible outcome.

It is only those who have to resort to lies and distortions of the obvious truth, rather than adding to the discussion to try to find the best way to profit from the possibility of a RD that are causing the problems here; not the ones who acknowledge what the CBI has planned for the past five years may actually happen.

If you have an aversely for fact, that is your privilege. At least have the presence of mind to acknowledge fact when it is right in front of you.

If you want to lash out at someone, consider pointing your disapproval towards the ones who are doing the lying and distorting the truth.

There has been far too much negativity from those who have to lash out at others as proof of life.

I am usually a bit more diplomatic in my approach, but this message needs to be blunt.

Blame the liars; not the ones willing to acknowledge truth. Then you can help stop the negativity you bring by blaming the wrong ones.

Well said Dalite.....

The ones who are so quick to jump on us for reporting and sticking to the facts and not the hype, should be getting mad at the people who are leading them on and giving them misinformation. Basically the ones that are continuing to spread the hype by lying to you. Im sorry that alot of this stuff is a slap in the face when first hearing about it, and its like a cold bucket of water being thrown on you but there are alot of smart people here on this board but they need to just use their heads a little more instead of believing everything they hear, and passing it on as fact.....

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Ok, it talks about the restriction of appreciation of the dinar just after Saddam was removed and the influx of US currency. There is nothing that states that the value of the dinar was going to be even $0.01 per dinar, let alone anything higher as many have claimed.

We all want the best to happen, but this article is around 8 years old and does not state what levels they thought the dinar might go to at the levels that they had at that time. The amount of currency since then has ballooned even more, considering their inflationary problems didn't end until around 2007.

We all want this to happen to make everyone wealthy, but re-posting old articles that don't really state anything to support that assertion doesn't really help understand the CURRENT reality of where they are at.

Posting THIS old article makes a huge amount of sense. Many people had not read it, and in fact, I was invested in dinar for quite some time before I read it. Frankly, it is extremely informative, giving the history, the intentions, and the goals of our country regarding the dinar. Now I would think that people can do other research to discover the events since that time, but this is a fantastic way of knowing where to begin. Of course, things have changed since then. DUH!! Anyone could tell you that!! You aren't telling us anything new, so your post was for nothing except to complain.

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I don't need to there's a plan that has no rule book written this event is unprecedented and is much bigger than just Iraq at this point in the game it has become a global event, these questions you ask I can't answer nor can as I stated anyone else except for those who are implementing the plans progress not just on a Iraqi regional scale but a global one...

Iraq is the wealthiest country in the world that is fact both economical and biblical, and by saying what you have been saying in every thread we debate most of the questions you ask are not supported by anything in history because the simple answer to it is we are a part of the history that is being written as we watch and learn, if you help rather than question and pollute the environment your in here at DV then you are doing yourself and others an injustice because your negativity leads others and yourself to make bad decisions, you and your other lopster friends will have that on your hearts and conscience, but you will not sway me and those who are here to be positive one bit nor will I let you rub off on those people because it ends up being hurtful regardless of your intentions they may be good, but they have become muddied waters and quite frankly I like to see the sharks coming when I surf so I can at least warn someone else should that shark attack me, trust me I'm not going down without a fight and well I'm going to hurt that shark even though he hurts me but I will survive and live to see another day and help one more person for as long as I can...you on the other hand have effectively yet again turned a thread everyone should be reading for encouragement and truth to not read and not comment due to your negativity like 100% of all posts you post on do you notice the pattern: you never post, let alone are positive + your negative comments on others posts = no positive sharing of factual knowledge we do have for anyone else

That was my reasoning for bringing you over to this post just to show you the truth to your poison! You can't argue with the facts even if they are written in 2001 or 2003 and predict what the internal or external situations & influences will be in 2011, the circumstances have changed and your questions are yet to be answered but the facts we do have point in a different direction than you and your cronies speak about also why there are only about 3-4 of you left most others you either ran out of the investment or saw the light and stopped listening to you and your cronies!

My suggestion to you is to just stop and be quiet for a week or more on here just observe and filter the information for positive thinking, rid yourself of the negative stuff cause it effects others and not in a good way just like it does yourself. I do this often on this site it helps to keep focused and goals in mind rather than to jump in the ring blindfolded and fly by the seat of your pants with hypothetical conjecture.

I say this to you because I believe you are intelligent, have good intentions but lack follow-through , and can do more good than your understanding of yourself can fathom...our pure goal here is to help not hurt when you help you feel a good healthy boost of self esteem and you deserve that rather than what you have been receiving!

___________________________________________________________________________________________________

You are either a fantastic father figure or an elder statesman-figure to HopefulTxn. I hope he does take your wise advise and stands back and reads, otherwise called "shut up and listen," for a while. There is much to be learned on a site like this, if people don't jump quickly to denounce everything they read, but rather, reads and ponders for a few minutes, an hour, or even a day before responding. I don't know either of you, but he is fortunate beyond belief to have a friend like you, regardless of any other context of your relationship. There are others here who could also benefit from your wise counsel, and I hope they get the chance to read what you have written to HopefulTxn. He is not alone in his need to learn this important information. Thank you for them, as well. Francie26

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These "opinion" articles do nothing but help spread misconceptions and misinformation among the forums......

Funny how they are "facts" but yet nothing can be verified as the poster claims...... laugh.gif

Validity just dropped like an anvil off a cliff....

This from HopefulTxn's last posted response-- "I realize that you state the you cannot support your claims, and I respect that you have your beliefs. But I do not respect how you have treated others that do not view things the way you do."

Don't you get it??!!! Why don't you listen and evaluate instead if sceaming instantly like a spoiled child. This has absolutely nothing to do with your "view." Grow up!!! The situation in Iraq is without precedent. Shabibi is a genius, but even with him manning the oars, there are other powerful people and vast machinations behind the scenes creating, although as smoothly as possible, an enormous shift in the world. Of course, certain principles must be applied if possible, and Shabibi does that very well, but what you are seeing is part of a plan made by powerful people years ago. Whatever happens, and whether you are privy to the plans of those powerful people or not, the plan they devised is now coming to fruition, and it will happen no matter how much you scream and yell and deny and compare Iraq to Turkey.

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This from HopefulTxn's last posted response-- "I realize that you state the you cannot support your claims, and I respect that you have your beliefs. But I do not respect how you have treated others that do not view things the way you do."

Don't you get it??!!! Why don't you listen and evaluate instead if sceaming instantly like a spoiled child. This has absolutely nothing to do with your "view." Grow up!!! The situation in Iraq is without precedent. Shabibi is a genius, but even with him manning the oars, there are other powerful people and vast machinations behind the scenes creating, although as smoothly as possible, an enormous shift in the world. Of course, certain principles must be applied if possible, and Shabibi does that very well, but what you are seeing is part of a plan made by powerful people years ago. Whatever happens, and whether you are privy to the plans of those powerful people or not, the plan they devised is now coming to fruition, and it will happen no matter how much you scream and yell and deny and compare Iraq to Turkey.

Whoa now lol..... My view?? What exactly is my view? Before you have the right to cast judgement, you should at least know what I am about......

I hope there is and has been a "huge plan" this whole time of the revaluation of the dinar and that we stand to make a killing, but there is no supporting evidence in that theory at all but yet people again take this as fact. Its one of the first things we hear once we get in this investment, that its some brillant plan to hide from the rest of the world the fact they are going to RV their currency overnight. The problem is that this is the first thing people will come to debate about to justify why this must happen. So whenever the truth about things is presented to them, they immediately get defensive and dismiss it all together or come up with some excuse about why/how it doesnt relate.

I think you get confused when I talk about Iraq and Turkey......Im not saying that these two countries are in the same exact position economically and future outlook. However, their failure to practice stern monetary policies put them in the same boat financially so to speak. They both suffered heavy inflation and excessive amounts of currency being in circulation with nothing to back a higher value because of the diluted money supply.

Its the CBI saying they are studying and have been studying Turkey, Brazil, and a few others when those countries redenominated and dropped the zeros. And if you take the time to research those other countries on how they redenominated, it certainly is not what we want Iraq to do. Its the CBI that keeps comparing the countries, so when you try to find the similarities between the two, you will understand exactly what the CBI is saying its pushing for to get approved in parliment.....

I cant help it that some just refuse to learn more about this investment from both sides of the table.....

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I brought this article that easy posted under another post. I think it was very good. It also explains the other side of the debate on RD and why some in the Iraq government do not want an RD.

Redenomination has its downside also counterfeit is a big Issue with Rding: heres some more info.

REDENOMINATION OF NAIRA

INTRODUCTION:

Redenomination, the latest contending policy issue in Nigerian economy

today, refers to reduction in the par value of a currency, usually by a factor of

ten. In other words, redenomination is the process where a new unit of a

currency replaces the old unit with a certain ration. For instance, Ghana in

July this year decided to implement redenomination policy by replacing the

old 10, 000 cedi with a new 1 Ghana cedi, i.e., four zeros were removed from

the old currency to arrive at the new one.

When implemented, redenomination usually results in the birth of an entirely

new currency, with a new symbol. In the case of Ghana, for instance, the

currency changed from Cedi (¢) to Ghana Cedi (GH¢).

2

The contending issues revolving around the redenomination policy are:

What is the rationale for implementing such policy or under what

condition is such policy required in a country?

What would happen to the external value of the domestic currency after

such policy is implemented?

What would be the impact of such policy on the Nigerian markets,

What are the benefits of such policy on the economy as whole?]

RATIONALE FOR REDENOMINATION:

Redenomination, sometimes referred to as currency reform, often serves as

the last resort for monetary authorities of hyper-inflationary economies, where

domestic currencies have lost significant value locally and internationally, to

regain public confidence in the domestic economy and the economic policies

implemented therein. For instance, Angola re-denominated its currency in

1995 when inflation rate was 2672 per cent, while Brazil re-denominated its

currency in 1994 when inflation rate was 2076 per cent.

3

Currency redenomination also can be a means by which governments attempt

to reassert monetary sovereignty. If citizens lose confidence in the national

currency, they may begin to use foreign currencies, particularly those with

greater prestige. This may be a psychological and an economic blow to the

government. With widespread foreign currency substitution (or, more

extremely, full dollarization), the central bank no longer controls the money

supply, rendering it unable to provide lender of last resort functions.

Consequently, economic policy is influenced not only by international capital

markets, but also by foreign central banks. Currency redenomination, then, is

a means by which governments can attempt to reverse this currency

substituting behaviour. If citizens are confident that the new local currency

will hold its value, they may be willing to shift from using foreign currencies,

such as euros and dollars, to using the new domestic currency.

While the act of dividing a currency’s value by a factor of ten is somewhat

symbolic, it can also help to convince citizens of a currency’s worth. As a

result, redenomination often occurs after economic crises, as governments

attempt to convince citizens and markets that hyperinflation is a thing of the

past. In some cases, the timing is correct, in that redenomination caps off

4

high levels of inflation. In other cases, governments are not able to curtail

inflation immediately after redenomination, and they may make multiple

efforts at currency reform. Argentina and Brazil during the 1980s and early

1990s exemplify this pattern.

Many nations with high levels of inflation also have relatively low-value local

currencies, making large denomination currencies necessary for basic

transactions in the economy. While it is high or hyperinflation that often

causes this situation, the presence of large-denomination notes may be the

most obvious sign to citizens of a potential need for redenomination.

BENEFITS FROM REDENOMINATION:

It is important to say no economic theory postulates that a country that redenominates

its currency would reap certain economic gains.

Redenomination of currency is a symbolic reform without guaranteed

benefits. It only helps to create impressions that past inflations have been

eliminated. So, it does not necessarily imply that future inflation will be low.

Thus, it is possible for a country to report worse inflationary trends after

redenomination.

5

However, there are probable gains that could accrue after redenomination in

an economy. Besides the administrative and personal convenience that would

result from the use of lower units of currency to execute high-value

transactions, implementation of redenomination policy might signal renewed

commitment of the monetary authorities to effectively manage general price

level. It is this “signaling effect” that makes the general public to have

expectation of low inflation in the future.

Since today’s interest rate is set in line with the expected inflation rate, the

“signaling effect” might then cause a decline in general interest rate in the

economy. In addition, the expectation of lower inflation would likely

strengthen the domestic currency in the Foreign Exchange Market.

However, if the post-redenomination inflation turns out to be significantly

higher than the expected inflation, the policy might spark off economic

reactions that could worsen the state of the whole economy. Thus, for there to

be real benefits from redenomination, the post-redenomination inflation

must be within expectations. This therefore implies that the monetary

6

authorities must be actively committed to stabilizing the economy after

implementing redenomination policy.

THE CASE OF NIGERIA:

In view of the foregoing, the proposal of the Central Bank of Nigeria, the

monetary authority in Nigeria, to re-denominate the domestic currency,

Naira, by dividing the existing Naira by 100, may not be economically

justified. This is premised on the fact that present inflation rate in the

economy is within a single-digit value (6-9 per cent), which qualifies Nigerian

economy as a moderately stable economy. Also, public confidence in the

Nigerian economy is quite high as evidenced by growth in domestic and

foreign investments in the country. More so, foreign currencies are not being

used for domestic transactions in the economy, thus there is still much

confidence in Naira as it were.

However, taking into consideration the other targets of the Central Bank of

Nigeria, such as the re-positioning of Naira as a “reference currency” for

transactions across the West African sub region and the making of Nigeria a

financial hub for investors across the whole of Africa, among others, the

7

redenomination of Naira could be of high significance to the Nigerian

economy. In this regard, redenomination will allow the Naira to be directly

and easily linked and monitored with the US dollar and hence increase

external confidence in the Naira. To sustain the confidence in Naira and

hence the Nigerian economy, the CBN must ensure that inflation is strictly

controlled. More so, with the full deregulation of exchange rate that would

likely characterize post redenomination era, low level of inflation is essential

to sustaining Naira value relative to foreign currencies. Thus, it is expected

that inflation rate will be the utmost target variable for the monetary authority

during the post-redenomination era. In other words, redenomination is

expected to result in a shift from monetary targeting to inflation rate

targeting, a major policy framework with its own pros and cons.

IMPLICATIONS ON THE NIGERIAN CAPITAL MARKET:

Premised on the signal of renewed commitment of the monetary authorities

to effectively manage general price level and the probable increase in external

confidence in the nation’s economy that redenomination of Naira might

cause, the Nigerian capital market is expected to experience a boost.

8

The signal of more effective management of general price level makes

investors to anticipate lower and stable inflation. Thus, the general level of

interest rate is expected to fall. Such fall in interest rate will in turn boost

investment in the Nigerian capital market.

Also, the probable rise in external confidence in the Nigerian economy will

attract more foreign direct investment into the country, with a positive impact

on the capital market. However, significant fall in interest rate might have a

negative impact on inflow of foreign investments into the economy.

However, upside risk to interest rate is high in the post-redenomination era,

especially in the long run. Where the CBN envisaged that inflation rate will

rise above the target rate, it might decide to raise interest rate as a policy

measure to keep inflation rate within target, as the CBN would probably be

more committed to maintaining inflation rate than maintaining interest rate

in the post-redenomination era. Consequently, this might impact negatively

on domestic investment in the country.

9

Thus, while its impact on capital market looks positive in the short run, the

currency reform has uncertain implications for the Nigerian capital market in

the long run. It is all about what happens to the economy as a whole. If the

economy grows we should expect growth in the capital market, and vice versa.

APPENDIX I

ARGENTINA EXPERIENCE:

Prior to 1992, Argentina’s five-year average annual inflation rate was 1207.9

per cent, with the highest of 3079.5 per cent reported in 1989, while five-year

average exchange rate was 3,564 australes to 1 US$. Although the country

witnessed decline in inflation rate to 171.7 per cent in 1991, the country’s

currency further depreciated relative to US$ with 10,028 australes exchanging

for 1 US$. Consequently, the country re-denominated its currency in January

1992 by re-introducing peso to replace the austral at the rate of 1 peso = 10,000

australes, and then pegged its international exchange rate at 1 peso = 1 US$.

After the redenomination, inflation subsided significantly with sharp and

continuous decline in the inflation rate from 171.7 per cent in 1991 to 0.9

per cent in 1998, while exchange rate remained fixed by the Central Bank at 1

peso = 1 US$ till 2001. However, the fixed exchange rate made imports

cheap, producing a constant flight of dollars away from the country and a

progressive loss of Argentina's industrial infrastructure, which led to an

increase in unemployment. The situation, worsened by the country’s huge

foreign debt obligations, culminated into a recession with the country

experiencing a 4 per cent decline in GDP in 1999. Eventually, the country

abandoned the exchange rate peg at the end of 2001. Thereafter, exchange

rate rose significantly from 1 peso/US$ to 3.4 peso/US$ in 2002, translating

to 240 per cent depreciation in the international value of peso within one

year. Consequently, inflation rate climbed significantly from negative level to

25.9 per cent in 2002. However, after this time, average annual inflation rate

has been 9.6 per cent, while international exchange rate hovers around three

pesos/US$. Ever since, the Argentine economy has been on the recovery

path

From the foregoing, it is observed that Argentina slumped into recession in

1999, approximately seven years after its last redenomination. While

redenomination could not be said to be the primary cause of the recession,

other complementary policies such as those highlighted below could be used

to explain the recession.

After redenomination, the Argentine Central Bank pegged the exchange

rate at 1 peso/US$, which implied that peso was relatively overvalued. This

consequently made imports cheaper and then led to the collapse of local

industries, with the ultimate outcome being widespread unemployment.

Also complementary to the redenomination was the policy which gave

depositors the option to withdraw their deposits at banks in US Dollar. This

policy consequently allowed widespread circulation of US dollar in the

Argentine Economy and then facilitated the flight of US dollars to foreign

countries.

Costs and Risks of Currency Redenomination

1.Cost of printing new notes and minting new coins. In the long-run this cost may be offset by the reduced number of notes that will be printed in future due to the reduction in the amount of notes for transactions.

2.The cost of disposing of the old notes and coins. This is likely to be small but there is a risk that some of the old notes may be re-circulated or round-tripped. It has been reported in some countries that officials who were charged the responsibility of destroying the exchanged (old) notes and coins secretly “smuggle” then back into circulation to be re-exchanged into the new currency. This could result in multiple “round-tripping” of the old currency which can fuel inflation. Therefore, the banking authorities must ensure that notes and coins withdrawn do not find their way into circulation.

3.The cost of public education and advertising the change to citizens. This could be substantial.

4.The cost of exchanging the old currency for the new currency in terms of man-hours lost in waiting in banking halls, changing records and dual accounting in both old and new currencies during the “interim” period.

5.Risk of massive disruption in the pricing mechanism in the economy and short-term inflationary pressure arising from the “announcement effect”. No matter the assurances from the CBN, a major economic policy like currency change is bound to trigger inflationary pressure due to the uncertainty such changes generate. However, the inflationary impact may be curtailed with effective public education and anti-inflationary policies, e.g. ensuring abundant supply of petroleum products and stable prices of petroleum products and government-provided services. In a country with a low level of financial literacy like Nigeria, determining new prices for goods and services could be a challenge for many traders, farmers and operators in the informal sector.

6. It took the European Union about five years from the decision to introduce the Euro currency to its full implementation, i.e. from 1998 to 2002.[v]

7.The uncertainty and instability that is inherent in major changes in economic policies in most developing countries could lead to increased speculation, capital flights, drop in foreign remittances, increased risk aversion, adoption of “wait-and-see” attitude by investors and increased sharp practices.

8.Likely short-term increase in the rate of armed robbery because robbers will flood banking halls and trail those who have exchanged large sums of old money for new ones. There is also a likely increase in other fraudulent activities and financial “scams”. For instance, since the announcement of the redenomination and the introduction into circulation of the new notes and coins in July 2007, several cases fake new Ghanaian cedis have been reported under spectacular headlines in their newspapers ”. You can trust that Nigerian fraudsters are already at work perfecting their strategies to take advantage of the proposed redenomination of the naira

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You for got add that W was an unsuccessful oil man.

And spend trillions....you make it sound like it was his money. It is our money.

Payback for the US....you need to tell that to the families that lost their military heroes, tell that to the maimed soldiers, and the soldiers that will suffer for the rest of their life with PTSD.

W did it because he was a cowboy,and Cheney thought it was a good, profitable venture to get oil. If it was not a lie, why did they use a lie for the excuse to invade? They needed a cover-up. 9/11 had nothing to do with the invasion.

You make it sound like they were the Red Cross was out doing their good deeds. BS! Pleez. Talk aabout dilusional.

We part ways on this one, carrello. I don't say there were angels in our government when we went into Iraq, but I admire our president and the people who were running our country then. I am adamently convinced Saddam had WMDs, and that he sent them by truck over the border into Syria shortly before we entered Iraq, and today, those WMDs are at the bottom of a huge lake not far past the border into Syria. At least that's what one of Saddam's so-called crack pilots said just before we found Saddam. I also admire President Bush's concern for the families of 9/11, and for his caring today for our returned vets. Call me dilusional if you will, I'm fine with that tag, but I think you are being unnecessarily harsh and judgmental because the only support for what you say is to rely on unsubstantiated data provided by shriller voices than your own, which is no proof at all.

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Yea rationality, what a fad. That'l never last!

Xyzzy apparently cannot be bothered with subtlety of wit. But for his/her edification, I was not referring to rationality in and of itself, but rather the irrepressible urge among the "cool kids" to merely appear "rational." It's just like those people who get tattoos to express their own "individuality," although it never occurs to them that 9 out of 10 people have them nowadays.

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Spud don't you worry about the kid, he's a little punk at times, and yes a smart mouth that gets him in trouble, and well very very negative...he also has joined a band of lopster goons who a mire few are intelligent the rest are just like him...he has also been booted from the site and let back on in the past and has been warned by the mods many time his attitude is terrible!

Dalite and JMW happen to be intelligent gentlemen who like a good debate but their points have constantly been debunked by many more than sonny1 and myself they won't get in the ring with TenMillion he'd rip them a new one when it comes to the debate level...they not only like to jump in with me but the only way they will is to gang up on me and well to my surprise in this thread many people jumped in to assist me, most other threads they wear us out with such limited vision and unacceptable monetary policy which since it was put in place has crashed the US economy not just once but 2 times in the last 3 years and has crashed many EU countries and more are on the way to crash along with the Euro itself...so basically their debate point of view is proven to be broken and worthless cause unless restructured and reformed it will not work no matter how they present it! They also leave out important facts in comparison because they negate their argument...the solution to all of this is what we are witnessing and how it will go is what Dr. Shabibi is implementing which will be how the entire world will refom and restructure their monetary policy to mirror, while Iraq leads the way back to a modified form of the Gold Standard with other factors added to it to help support it...Just sit back and watch history be written not just any history the generational, global, and unprecedented kind that will carry on our families for many more years to come!!

I gave you a + to get rid of the -. You don't deserve a minus for speaking your truth, for saying what all of us (except the lop experts)wish we knew how to say, or for being knowledgeable in what is actually happening, not only with Iraq and the dinar, but around the world as well.

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