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IMHO I know Adam has said .10-.30 cents i just dont see it they have talked and mentioned in numerous articles a 1 to 1 and also mentioned they want to be up to par with the USD.

Don't forget................... they lie prolifically:)

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We can't make this a theology debate, we'll be running in circles. The fantasy side of my brain likes where you're coming from, however, the realistic side knows better. I'll see you on Forex at .10-.30. Still a great deal of found money. Enjoy the rest of your weekend.

ChicagoMike, I expressed the same issue on the margin call of Trillions, and added where does it come from a country whose budget is $76 billion.

Hope that the 25K notes I have don't turn into $25 notes w/ RD and a $.10 RV. Why do you say the 25K notes will be worthless?

Thanks,

Mak63

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ChicagoMike, I expressed the same issue on the margin call of Trillions, and added where does it come from a country whose budget is $76 billion.

Indeed a large RV has an exchange liability problem for foreign and domestic investors and an ongoing trade exchange liability.

Hope that the 25K notes I have don't turn into $25 notes w/ RD and a $.10 RV.

A RV to a dime would be great in my view, but then an associated RD could only be 10:1, not 1000:1 since the RV to a dime is already a factor of 120x. So a 25K IQD would turn into 2,500 new dinar which is hardly "deleting the three zeros".
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ChicagoMike, I expressed the same issue on the margin call of Trillions, and added where does it come from a country whose budget is $76 billion.

Hope that the 25K notes I have don't turn into $25 notes w/ RD and a $.10 RV. Why do you say the 25K notes will be worthless?

Thanks,

Mak63

Mak63, I got into this very early on and was told by a connection in Jordan at the time to specifically not get 25k notes because when it starting trading those bills would be disregarded. I never got into specifics because I didn't care and I got other bills. It's all fwiw, I'm not bashing, I hope everyone gets paid but we have to be realistic here. There has to be a catch and looking back it now makes the most sense to me. There won't be chaos like the other guy posted, people will collect huge returns on every other bill they hold.

Nobody here can answer the margin call question because they can't and some probably never even processed the equation. Can't argue with math.

GLTY

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I have no proof or a link or anything that can be verified...........just a thought. Just adding to the discussion.

The USD is the reserve currency of the world is it not? The dollar is used in 16 countries as it's own currency...example Panama. So if all that money is in all these countries....how much USD is out and about in the entire world? Most countries either hold real currency and/or treasuriy bonds...China....and all in all how many trillions of dollars are in the system? I have read many figures as to how much that number could be.all the way up to 100 trillion dollars world wide............I do not have the correct figures but considering the USD as I have mentioned it has got to be an un-Godly amount.

Question for all of us is can the United States actually cover all of that money? Even though our economy is massive compared to everybody else,(something like 9 trillion)....and even that is only my estimate based on my studies can the US Government cover every dollar in existence. My thoughts are No Way. Being a fiat currency and not gold backed and for good reason as there isn't enough gold in the whole world to back our currency let alone the rest of the world economies. It is a fiat currency that is backed by ours and the rest of the worlds faith in the US dollar. Faith not metal is what gives the USD ability to be used in the way it is used..........and it's ability to continue on the path Nixon put us on in the 70's.....But what would happen if all that money came home?

Chaos. There would be no way to cover it all. Not all at once anyway. Maybe not at all. Step in the Bankers who have supported and use a Central Bank System. That allows each country to trade currencies and that gives value for each currency and it's all based on faith that each country will support it's money and as such we all believe that their money has value and they believe ours holds value as well. Thus you have the reserve system used by most countries. But what if all the countries lost faith and sent foreign monies home..........We would all be broke. You,me, and the government anywhere you are standing.

Since I am no economist and just a regular person let's say all I have stated is true....just for giggles. Wouldn't that make the dollar the same as the dinar? We have all been struggling with how much Dinar is in circulation and as such it is hard for us to wrap our minds around the idea of how Iraq is gonna RV 30 Trillion Dinar and afford it.......It is hard to reconcile to say the least...........but we need a way to figure out how they can do so.

The articles about what their plans are to RV/Rd are gonna work out is confusing because we can see that 30 trillion has to be accounted for and absolute numbers are needed............but is that really true?................My only way to see this is by including the Reserve Currency in the discussion.

Shabs and Salaegh have stated they want the Dinar included in the reserves of other countries. That by it being in the reserves of many countries will support the dinar's value and as a part of international reserve system it will also legitimize the Dinar as it would be held by many countries just like the dollar.

It is my unqualified opinion that the Dinar will be infused into the reserve system providing relief to the amount of dinars in circulation. I have always believed that if the US did hold large amounts of Dinar then the Fed would use dinar to buy up dollars thus shoring up the dollar by reducing the amount of dollars floating around the world... It is widely believed by my little circle of friends that when the RV occurs you will see a commodities price drop because of that contraction of dollars.and that includes gold..just belief not a fact..we are guessing. The value of the dollar is as low as it is by design and if the Fed were to use dinar to buy up dollars how would it affect the Fed's policy of driving the value of the dollar down to enhance exports and profits. What? You don't believe the Fed has purposely driven down the value of the dollar? Check again. It ain't the Chinese bubba....they got enough debt to choke a horse and they for dang sure don't want our economy to fail....We fail they fail. Besides our multi-national corps built, bought, and paid for the Chinese economy just like they have right here at home....would look bad for profits and upset the investors at their breakfast. ;)

The Dollar cannot be supported by the US if it all comes home at once and neither can the Dinar. There has to be a pressure release somewhere and I believe it will be through the reserve system used by most countries around the world............but that is only my opinion.

I would really like to hear from yall about the use of dinar in the reserve system world wide.......If you want to bash my OPINION then just skip it. If you want to disagree that would be fine...just looking to hear other thoughts about this as I am always trying to learn. Thank You.

AUTOMAG

:D I agree.

I have been saying this version all along, more or less, but the lobsters clamp down on it with their hook claws every chance they get...but the circulation, the circulation...too much Dinar out there...God, what are they, lobsters or parrots?

It's FAITH in the US economy, ie. its size, power, scope, international influence, etc that buoys the dollar. Yes, if all came in to cash in their dollar worldwide, they'd close the banks - or go bankrupt. Just as they did in the run on the banks in the Depression.

The dinar is no different than the dollar as a new fiat currency soon to be out the chute...backed by tangible assets that provide faith:

1. Oil, gas and minerals.

2. US military presence (not just ground troops) to prevent fullscale civil sectarian war. Don't kid yourself about US troops leaving. That's political talk. There are at least 13 permanent bases, private contractors, and it's the US Navy that runs the show in the ME with their jets, cruise missiles, etc.They are ALWAYS there in the Gulf.

3. US and international bank backing to shore up any pitfalls.

4. Common sense - this is really a reinstatement of the former wealth that was there pre-war. An RV is bringing back Saddam levels, and probably more, (in time) because now Iraq will not be an international pariah state anymore, under sanctions, etc.

5. This last one is a little farther-fetched, but if Iraq has large reserves of dinar in the CBI, those reserves will revalue also, and couldn't they, especially in a multi-tiered RV over several years, buy dollars or euro and pay off investors like us easily while still making money on the spreads?

Lopsters...go home.

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Mak63, I got into this very early on and was told by a connection in Jordan at the time to specifically not get 25k notes because when it starting trading those bills would be disregarded. I never got into specifics because I didn't care and I got other bills. It's all fwiw, I'm not bashing, I hope everyone gets paid but we have to be realistic here. There has to be a catch and looking back it now makes the most sense to me. There won't be chaos like the other guy posted, people will collect huge returns on every other bill they hold.

Nobody here can answer the margin call question because they can't and some probably never even processed the equation. Can't argue with math.

GLTY

Great....... or should I say CRAP!!!! Thanks for the info. I'm hopin' that isn't the way it goes, but you may be right. Also, was looking at a Dinar seller and small denom bills are twice as expensive now as 25K notes. Thanks for the GL, looks like I'll need itwink.gif

Mak63

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No matter how things unfold, I think we can be extremely confident that a single 25K IQD note and fivehundred 50 IQD notes or anything in between will all be treated identically. Doing anything else would result in instant mayhem across the country.

Since noone really knows how this will go, in your humble opinion, what makes you think the Shab wouldn't just waste the 25k notes. That would remove a lot of currency from the markets and that is a deflationary move which Iraq needs.

Thanks,

Mak63

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Hey easy good post,have to agree with ya. I think they need to come out @ 1 to 1 myself,that puts them @ a good mark to move upwords and not too low,this would be a great starting point for them to move forward with the rebuilding of Iraq. And this would be a Great rate for cash-in as this rate would help so many people out of a bad situation,thanks again easy!

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TFK, please feel free to cite verifiable facts disproving me wrong. It's people like you and all these self proclaimed idiotic gurus that make me angry. There won't be ferraris and mansions for everyone, it you double or triple your money you did ok. If you bought more dinar than you can afford, you're a fool. Iraq isn't a global charity that's going to bail the world out. It's a business and some stand to make money and a lot stand to lose. Quit reading between the lines, there is nothing there.

Grow up.

Actually Mike, you are the one who proposed the idea, thus you are the one who needs to support your theory. I can not say "watermelons are blue on the inside until you cut them open" and then say you have to prove me wrong...it is not your job to prove me wrong, it would be my responsibility to prove it correct. I am not saying I agree or disagree with you...just pointing out that you are using a Burden of Proof argument. Cheers!

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hame55 thank you for your response. Yes indeed the US Military is gonna be in Iraq in whatever form is needed and you are correct that a Carrier Task Force based in the Gulf is ever threatning and comforting to our friends and enemies alike........Even if we can't tell who is what. But nonetheless that Carrier Group is gonna be around for a long while and if a need arises I am sure the Kuwaitis will be accomodating when needed as we protect them as well.

There has to be a way that they can RV and not lop. I can understand a strong case for a lop.....I really can. But the price of a lop would be very high for Iraq as well. There would be consequences to a lop. A lop would have to be weighed just as much as an RV in terms of cost and consequences at that action. To date I have not been able to see the cost of a lop being more beneficial to Iraq as compared to an RV. Those costs will incur more than just numbers....You will have the politics of that lop and it would not be pretty. The tangibles of eitther choice are not always readily seen and judging a lop by numbers alone is inadequate. You must IMO weigh the other reactions possible into the equation. Problem is politics and the Social aspect are fluid and in the case of Iraq impossible to determine from the information we get at this level of observation..........So how to judge the lop vs RV argument is almost moot except for the fact the arguement is available and reminds all investors that there are other possibilities. Agree or not to either an RV or lop. I do not agree. But I am well aware that the possibility is there. But that is just me as I weigh the politics heavily and it has affected my view of this excersize......I am not an economist but I have learned alot in my studies about geo-economics and it helps but I am no expert.

There more mechinisms at work here than we all know and as such it seems impossible to verify or confirm the simplest of questions...Does the US hold massive amounts of Dinar?........How much Dinar has been retired from the 30 trillion alledgedly in circulation?.....Is it really 30 trillion? Is Maliki actually trying to establish a dictatorship...........Will Maliki survive his changing the goal posts on the Kurds? and about a few hundred other issues up to and especially...Will Oakie ever be right? ;)

If we can't even confirm some basic beliefs then how can we make a case for what we believe........We cannot thus either an RV or lop arguement is just so much chatter. I try and not to argue the points as I used to because I have to play by the same rules and since my information is lacking then what the Hell...pop a top again...........But we can consider the various scenarios and theorize the possibilities and really thats all we can do.

My thoughts were directed at the articles by Shabs about the Dinar in foreign currency holdings world wide throughout the Central bank System As I stated earlier I know our fiat cueency cannot cover all the Dollars world wide that are out there. Just too much out there........So if we can't cover it all then why do the Iraqi's have to cover all of theirs? I don't think they do. Just a thought really but it too must be considered. I am sure that there are holes in this line of thought but it seems to make sense. I just threw it out there for us to chew on it rather than each other plus I haven't had this debate here in the forums but I and my friends who are invested as well have been having a rip-roaring conversation about this subject.

BTW....ChicagMike72........The chaos I referred to was in reference to the dollar and in no way can you use my statements about that chaos to support your point of view. If you are going to use a reference to my use of chaos to make a point about your opinion I would appreciate you at least fully comprehind what it was I said. No bash intended but the way you referenced what "the other guy" said it would be best you understand what it was "the other guy" said. I respect your point of view but I do not support your point of view. Just keeping it factual sir......and civilized.

Again Hame55 thanks for your response and opinion.

Hame55 Thank You for your response and thoughts and even you ChicagoMike72 thanks for you opinion. I will continue to consider it further.

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Since noone really knows how this will go, in your humble opinion, what makes you think the Shab wouldn't just waste the 25k notes. That would remove a lot of currency from the markets and that is a deflationary move which Iraq needs.

I do not think such a move has ever been done in the history of the modern world. Iraq very much wants to become a legitimate place to make investments which requires following international norms in finance. Just declaring a particular denomination as scrap is a move in the opposite direction. How do you think the iraqi people would react when the man with a 25k note has nothing and the guy with 25 1k notes has not lost a fil? It would be even worse for any business conducting a cash business. What of bank balances? If I put my 25K note in the bank it isn't a note any more so it survives but if I happen to have it in cash it becomes worthless. Its totally unworkable. An RD on the other hand is perfectly equitable to all and fully undoes Saddams massive printing.
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I do not think such a move has ever been done in the history of the modern world. Iraq very much wants to become a legitimate place to make investments which requires following international norms in finance. Just declaring a particular denomination as scrap is a move in the opposite direction. How do you think the iraqi people would react when the man with a 25k note has nothing and the guy with 25 1k notes has not lost a fil? It would be even worse for any business conducting a cash business. What of bank balances? If I put my 25K note in the bank it isn't a note any more so it survives but if I happen to have it in cash it becomes worthless. Its totally unworkable. An RD on the other hand is perfectly equitable to all and fully undoes Saddams massive printing.

Xyzzy, I have to agree with you on this one. There is no way they would make the 25k note worthless while keeping all of the other denominations valid. This has never happened, and I don't think they would burn that many bridges while they are trying to re-develop themselves in the international arena.

My Opinion:

I believe they could increase their value in increments. Like what they were doing in the past (3-5 years ago). I believe this would be the ideal route to take.

Or they can re-value up to about $.10 before they would need to bring in new lower denominations. Reason being, smallest note is a 50 Dinar Note. At $.10 to the dollar this would be worth $.05, anything bigger than a $.10 straight up RV would require new lower denominations.

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I do not think such a move has ever been done in the history of the modern world. Iraq very much wants to become a legitimate place to make investments which requires following international norms in finance. Just declaring a particular denomination as scrap is a move in the opposite direction. How do you think the iraqi people would react when the man with a 25k note has nothing and the guy with 25 1k notes has not lost a fil? It would be even worse for any business conducting a cash business. What of bank balances? If I put my 25K note in the bank it isn't a note any more so it survives but if I happen to have it in cash it becomes worthless. Its totally unworkable. An RD on the other hand is perfectly equitable to all and fully undoes Saddams massive printing.

Dude, I was thinking it through until you made the last statement....... The New IQD was printed and distributed after Saddam was thrown out of power and he had nothing to do with its printing.

Mak63

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Dude, I was thinking it through until you made the last statement....... The New IQD was printed and distributed after Saddam was thrown out of power and he had nothing to do with its printing.

Mak63

I meant the printing of the old dinar of which Saddam printed 10s of trillions. That is what has lead to such a gigantic money supply now. When the current IQD was printed they were exchanged for Saddams monopoly money 1:1 so the number of dinars circulating did not change substantially. The current government has been printing quite a bit themselves for the past few years, which is why despite their auctions the supply is going up, thus inflation. The trillions of dianrs representing the same value is what lead to the ultra low exchange rate. An RD would "unprint" dinars so to speak by a factor of 1000, for a 1000:1 RD thus raising the exchange rate for the new dianrs by the same ratio.
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I meant the printing of the old dinar of which Saddam printed 10s of trillions. That is what has lead to such a gigantic money supply now. When the current IQD was printed they were exchanged for Saddams monopoly money 1:1 so the number of dinars circulating did not change substantially. The current government has been printing quite a bit themselves for the past few years, which is why despite their auctions the supply is going up, thus inflation. The trillions of dianrs representing the same value is what lead to the ultra low exchange rate. An RD would "unprint" dinars so to speak by a factor of 1000, for a 1000:1 RD thus raising the exchange rate for the new dianrs by the same ratio.

So do I infer you're a proponent of lopping?

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Xyzzy, I have to agree with you on this one.

What next? dogs and cats living together?!? (said in one's best Bill Murray imitation) :)

There is no way they would make the 25k note worthless while keeping all of the other denominations valid. This has never happened, and I don't think they would burn that many bridges while they are trying to re-develop themselves in the international arena.

My Opinion:

I believe they could increase their value in increments. Like what they were doing in the past (3-5 years ago). I believe this would be the ideal route to take.

If the increment is small enough and slow enough this indeed allows things to adjust organically and makes it all easy. e.g. Kuwait adjust their rate by a few %, no problems. But moving to even $.10 per dinar in 4 years would be close to doubling the exchange rate every six months, that's a wild ride. As the rate goes up prices of imports automatically come down proportionately but local prices and wages must follow as well or Iraq wil never be able to export anything including oil which would become more and more expensive to produce if workers were paid the equivalent of 100s of dollars per hour. So a series of big jumps (like 2x) seems to me to be very disruptive but they are needed to get to the target rate that fast given how low it is today.

Or they can re-value up to about $.10 before they would need to bring in new lower denominations. Reason being, smallest note is a 50 Dinar Note. At $.10 to the dollar this would be worth $.05, anything bigger than a $.10 straight up RV would require new lower denominations.

Doing the disruption once seems much more workable, but I have a hard time seeing $.10 in this light. Its hard to say how much foreign investment liability there is, but I certainly would not hesitate to cash in 50% if not 100% if the rate went to a dime. Plus there will be folks in Iraq thinking they'd better get into something more stable while they have a fortune, and with 120x the cash they had yesterday there is going to be huge buying thus huge importing. I'm guessing that could all total up easily to $500B USD per year, and I don't see how Iraq has the foreign reserves or means to replenish them to support that. But it would be sweet. Edited by xyzzy
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What next? dogs and cats living together?!? (said in one's best Bill Murray imitation) smile.gif

If the increment is small enough and slow enough this indeed allows things to adjust organically and makes it all easy. e.g. Kuwait adjust their rate by a few %, no problems. But moving to even $.10 per dinar in 4 years would be close to doubling the exchange rate every six months, that's a wild ride. As the rate goes up prices of imports automatically come down proportionately but local prices and wages must follow as well or Iraq wil never be able to export anything including oil which would become more and more expensive to produce if workers were paid the equivalent of 100s of dollars per hour. So a series of big jumps (like 2x) seems to me to be very disruptive but they are needed to get to the target rate that fast given how low it is today.

Doing the disruption once seems much more workable, but I have a hard time seeing $.10 in this light. Its hard to say how much foreign investment liability there is, but I certainly would not hesitate to cash in 50% if not 100% if the rate went to a dime. Plus there will be folks in Iraq thinking they'd better get into something more stable while they have a fortune, and with 120x the cash they had yesterday there is going to be huge buying thus huge importing. I'm guessing that could all total up easily to $500B USD per year, and I don't see how Iraq has the foreign reserves or means to replenish them to support that. But it would be sweet.

I can certainly see where overnight millonaires in Iraq would be highly improbable but then Iraq doesn't want the same for those of us holding millions of IQD either. Costs them too much. So do the politico's sell a low RV to the public as there is much more stability and focus for the future than there was in '03 when they RV'd for 1:1? Is that a possible way to tamp down the masses for a low/very low RV?

How do you think a low/very low RV would be spun to the Iraqi citizenry?

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I can certainly see where overnight millonaires in Iraq would be highly improbable but then Iraq doesn't want the same for those of us holding millions of IQD either. Costs them too much. So do the politico's sell a low RV to the public as there is much more stability and focus for the future than there was in '03 when they RV'd for 1:1? Is that a possible way to tamp down the masses for a low/very low RV?

How do you think a low/very low RV would be spun to the Iraqi citizenry?

I think they'll do it in concert with the RD, hopefully executing an RV when they just announce the RD. An RV of something between 1.5x and 3x would put the new dinar at $1.25 to $2.50 or so which would be a pretty big boost in buying power for imported items which Iraqi's will like. Are they expecting more? No idea really. I think this direction (big RD + small RV) is the only way they can go so it has to be sold, but we'll see. Edited by xyzzy
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I think they'll do it in concert with the RD, hopefully executing an RV when they just announce the RD. An RV of something between 1.5x and 3x would put the new dinar at $1.25 to $2.50 or so which would be a pretty big boost in buying power for imported items which Iraqi's will like. Are they expecting more? No idea really. I think this direction (big RD + small RV) is the only way they can go so it has to be sold, but we'll see.

Oh, Man!! I hope you're right!!

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We can't make this a theology debate, we'll be running in circles. The fantasy side of my brain likes where you're coming from, however, the realistic side knows better. I'll see you on Forex at .10-.30. Still a great deal of found money. Enjoy the rest of your weekend.

hey guys...what about the idea that instead of lots of US dollars....the majority of the returns will be done through oil, not cash...i mean...for the huge dinar holders...not us tiny investors.

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I think they'll do it in concert with the RD, hopefully executing an RV when they just announce the RD. An RV of something between 1.5x and 3x would put the new dinar at $1.25 to $2.50 or so which would be a pretty big boost in buying power for imported items which Iraqi's will like. Are they expecting more? No idea really. I think this direction (big RD + small RV) is the only way they can go so it has to be sold, but we'll see.

Oh, Man!! I hope you're right!!

Since I don't usually get such an enthusiastic reaction :unsure: I just thought I'd be clear: this scenario would mean our return would be between break even (RV of 1.5x) to double our money (RV of 3x). So the RV would raise the value of the IQD we hold to $0.0012 to $0.0025 and then a 1000:1 RD would boost that by 1000x but in a value neutral way. So the new dinar issued by the RD comes out a $1.25 to $2.50 . Edited by xyzzy
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No matter how things unfold, I think we can be extremely confident that a single 25K IQD note and fivehundred 50 IQD notes or anything in between will all be treated identically. Doing anything else would result in instant mayhem across the country.

I AGREE! WHY TAKE AWAY FROM AN ALREADY SLUMBERING ECONOMY, THAT WOULD BE LIKE STUMPING A MAN WHEN HE'S DOWN. COME AROUND IRAQI GOVERNMENT AND LET'S START BEING PROACTIVE, PUT SOME THOUGHT INTO THE MIDST. GO RV ;)

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hame55 thank you for your response. Yes indeed the US Military is gonna be in Iraq in whatever form is needed and you are correct that a Carrier Task Force based in the Gulf is ever threatning and comforting to our friends and enemies alike........Even if we can't tell who is what. But nonetheless that Carrier Group is gonna be around for a long while and if a need arises I am sure the Kuwaitis will be accomodating when needed as we protect them as well.

There has to be a way that they can RV and not lop. I can understand a strong case for a lop.....I really can. But the price of a lop would be very high for Iraq as well. There would be consequences to a lop. A lop would have to be weighed just as much as an RV in terms of cost and consequences at that action. To date I have not been able to see the cost of a lop being more beneficial to Iraq as compared to an RV. Those costs will incur more than just numbers....You will have the politics of that lop and it would not be pretty. The tangibles of eitther choice are not always readily seen and judging a lop by numbers alone is inadequate. You must IMO weigh the other reactions possible into the equation. Problem is politics and the Social aspect are fluid and in the case of Iraq impossible to determine from the information we get at this level of observation..........So how to judge the lop vs RV argument is almost moot except for the fact the arguement is available and reminds all investors that there are other possibilities. Agree or not to either an RV or lop. I do not agree. But I am well aware that the possibility is there. But that is just me as I weigh the politics heavily and it has affected my view of this excersize......I am not an economist but I have learned alot in my studies about geo-economics and it helps but I am no expert.

There more mechinisms at work here than we all know and as such it seems impossible to verify or confirm the simplest of questions...Does the US hold massive amounts of Dinar?........How much Dinar has been retired from the 30 trillion alledgedly in circulation?.....Is it really 30 trillion? Is Maliki actually trying to establish a dictatorship...........Will Maliki survive his changing the goal posts on the Kurds? and about a few hundred other issues up to and especially...Will Oakie ever be right? ;)

If we can't even confirm some basic beliefs then how can we make a case for what we believe........We cannot thus either an RV or lop arguement is just so much chatter. I try and not to argue the points as I used to because I have to play by the same rules and since my information is lacking then what the Hell...pop a top again...........But we can consider the various scenarios and theorize the possibilities and really thats all we can do.

My thoughts were directed at the articles by Shabs about the Dinar in foreign currency holdings world wide throughout the Central bank System As I stated earlier I know our fiat cueency cannot cover all the Dollars world wide that are out there. Just too much out there........So if we can't cover it all then why do the Iraqi's have to cover all of theirs? I don't think they do. Just a thought really but it too must be considered. I am sure that there are holes in this line of thought but it seems to make sense. I just threw it out there for us to chew on it rather than each other plus I haven't had this debate here in the forums but I and my friends who are invested as well have been having a rip-roaring conversation about this subject.

BTW....ChicagMike72........The chaos I referred to was in reference to the dollar and in no way can you use my statements about that chaos to support your point of view. If you are going to use a reference to my use of chaos to make a point about your opinion I would appreciate you at least fully comprehind what it was I said. No bash intended but the way you referenced what "the other guy" said it would be best you understand what it was "the other guy" said. I respect your point of view but I do not support your point of view. Just keeping it factual sir......and civilized.

Again Hame55 thanks for your response and opinion.

Hame55 Thank You for your response and thoughts and even you ChicagoMike72 thanks for you opinion. I will continue to consider it further.

I never cited your paltering nonsense. Bit self absorbed I see. I didn't know you were the proprietor of the word "chaos."

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I do not think such a move has ever been done in the history of the modern world. Iraq very much wants to become a legitimate place to make investments which requires following international norms in finance. Just declaring a particular denomination as scrap is a move in the opposite direction. How do you think the iraqi people would react when the man with a 25k note has nothing and the guy with 25 1k notes has not lost a fil? It would be even worse for any business conducting a cash business. What of bank balances? If I put my 25K note in the bank it isn't a note any more so it survives but if I happen to have it in cash it becomes worthless. Its totally unworkable. An RD on the other hand is perfectly equitable to all and fully undoes Saddams massive printing.

You think people are running around with a single 25k notes in their pocket waiting for the RV? Come on! These people blow each other up for the fun, but you don't think they'll screw the infidels? You guys really crack me up on here.

Don't you think the people of Iraq know more then we do right now? Who says they are evening issuing the 25k notes anymore to citizens? Pulling the 25k notes out is the quickest and most efficient way to stabilize Iraq's currency. I'll assume they were only put into circulation for hyperinflation that never happened. 10k to 25k is a big leap. Don't worry, you'll get your 25 bucks for it though.

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