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Tenmillion chat

dinarcimi

By dinarcimi,
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dinarcimi Newbie

dinarcimi

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For those that were not there to voice their opinion and or listen, here is the chat. For those that were, I for one appreciate your opinions, Thanks. :)

Go Iraq! Go Dinarians! Go RV! B)

JayP, Tenmillion, & Company Chat 11-7-11

[*Tenmillion] Welcome Everyone ~

[*Tenmillion] Our intent is not to discourage or encourage you to buy or sell your dinar. We want everyone to be able to look at their investment objectively and consider all the possibilities that might occur.

[*Tenmillion] In order for everyone to benefit from the chat, please be respectful of everyone's opinions and questions

[*Tenmillion] If you have questions or comments, please post them in a respectable manner....and remember...

[*Tenmillion] ....keep your words soft and sweet.....because you'll never know which ones you might have to eat

[*Tenmillion] First, I think a few questions that are common for everyone about the 3 zero articles...

[*Tenmillion] How does the money supply affect a revaluation?

[*Tenmillion] Could the CBI be drawing in the 3 zero notes through the auctions?

[*Tenmillion] In reference to the "removing the zero " articles.....will a 25,000 note be replaced with a 25 note if they remove the zeros?

[*Tenmillion] so I think JayP is going to address those questions first, and then we'll take questions from everyone else

[*Tenmillion] ok...take it away JayP

[JayP] Thanks ten! Ok, I will first touch on Ten's question up above, and then we can chat about your other questions

[JayP] How does the money supply affect a revaluation?

[JayP] This is a good question, and one that I think has been pondered on by many people over time.. but I think a critical piece to this that not enough sites talk about.. nor do they allow us to talk about it..

[JayP] why is that? My thought on it, it because of the amount that is out there..

[JayP] money is printed, and when more money is printed what does that do... it causes less confidence in a currency. It weakens it. This is why as a simple answer to economic problems are not resolved by just printing more money, it is never the long term answer.

[JayP] Just to put things into perspective, here in the US, we have about 300 million citizens.. and we have about 7 -8 Trillion in circulation I believe.. that is our money supply..

[JayP] now, in Iraq, they have only 30 million.. 1/10th of our population

[JayP] in 2003 they released the new iraqi dinar and at the time, and I believe they had about 6 trillion, or so..

[JayP] since then, that has ballooned to about 25 Trillion..

[JayP] printing over 3 trillion per year since then

[JayP] here is a link with a view of the CBI financials that show this for us to see...

[JayP] http://www.tensdinarden.com/showthre...=2239#post2239

[*Tenmillion] Line 79 on the chart

[JayP] so, we have to wonder, and ask ourselves, why continue printing so much currency... why the need for that much, and if it weakens their exchange rate, how do they get back to a reasonable supply to be able to strengthen their currency again

[JayP] I am of the opinion that if they want to strengthen their currency, they will need to reduce that supply

[JayP] right.. ty ten.. Row 79 for Currency outside banks

[JayP] That is the next item that Ten mentioned at the beginning

[JayP] Is there a possibility that the CBI is "drawing in" the 3 zero notes?

[JayP] This is something that when I finish, I would like to get some of your thoughts on since we are all here together.. because it has interested me..

[JayP] the fact of the matter is this, the CBI has stated on numerous occassions their need to reduce the money supply, and in fact has even stated "making 30 Trillion to 30 billion"

[JayP] and hence the "removal of the 3 zeros" articles

[*Tenmillion] so the bottom line is....the money supply needs to be reduced before a revaluation can take place

[JayP] right!

[JayP] I just cannot see any way around that fact

[*Tenmillion] and so the goi is involved

[JayP] We have given that a lot of thought, and the obvious way would be the redenomination, which is what the CBI has been stating that they want to do

[JayP] regardless of what you may hear on other sites on the matter

[*Tenmillion] they have to approve the CBI plan

[JayP] yep.. and on Sept 3rd they submitted a report to the Govt to present to them their plans

[JayP] The govt has rejected this idea though, and has been pushing back against those plans, stating that they fear corruption and counterfeiting would take place, just resulting in a cluster of cash to get put back into supply in the process

[*Tenmillion] ok....are you ready for questions JayP ?

[JayP] yes... I think we can go ahead with some thoughts and questions

[pattymelt] If they are trying to reduce the amount of bills than why do they continue to auction off bills and allow them to be sold to the public?

[pattymelt] I would think they would want to keep them in country so they can control the amount.

[JayP] that is a great question.. and one of the reasons that I do not believe that they are actively working on that...

[JayP] which would not be a good thing for us

[3-BALL] JayP there is no other ways they can reduce the money supply?

[JayP] we have heard about that being said for over a year and a half now that I know of, about them trying to draw those notes in already...

[*Tenmillion] one of the reasons they have the auctions is to maintain a stable rate

[*Tenmillion] that is one of Shabibi's main concerns

[3-BALL] and inflation right ten

[JayP] but it does not appear that they are doing that in my opinion

[built to last] JayP Would they have to redenominate if they draw in enough dinar from circulation?

[JayP] If they were able to draw in so much dinar from outside the banks, then sure, I can see them getting around that..

[JayP] but that would be a LOT of dinar that they would need to draw in to reduce though

[uncirculd] hasn't the articles state that dropping the zeros is coming but the printing of the money has to be approved? And that they started this in 2008?

[dinarcimi] Shabbs said that the currency would be stronger, If they RD how would that make the currency stronger?

[JayP] Well, I think that what they may have started, was their plans and study of the affects and pros/cons of a redenomination..

[Chuckles] I am betting, Iraq is worth about $70 Trillion and can handle about $1 or $2 Trillion worth of USD value in PPP Monetary Base, without Monetizing Non Liquid Assets, IE Debt...... but rather can handle a couple Trillion US liability, in Cash Base. 30 To 40 times the current total IQD Base, easily

[Chuckles] That factor only 80% in foreign demand, (International Reserves and Forex, excluded).

[uncirculd] also that this would be completed by next year or no, 2013

[JayP] ty Chuckles .. can you expand on that some more

[Chuckles] lol!

[*Tenmillion] hehehe

[JayP] lol !!

[fatcat] thing is...it takes more than 30 bil to run the country..and no one maybe knows the real amount in circulation by now

[Chuckles] Um...go rv..lol

[pattymelt] I have read that the US, Europe and other countrys hold large amounts of IQD. If they were making deals with other countrys than that would bring a large amount back, what we hold is a drop in the bucket.

Europe and other countrys hold large amounts of IQD. If they were making deals with other countrys than that would bring a large amount back, what we hold is a drop in the bucket.

[Nate Z06] soooooo, have I missed anything good...

[Chuckles] naw Im with enoch in skype and asked him: so how much do you think iraq has out there and how much yuo think they have pulled in based on the numbers 4-6 initial and reports of up to 30 trillion now

[JayP] Uncirculd .. yes, that is correct, the CBI would like to have that well under way by 2013 if not completed...

[uncirculd] i am leaning on the RD then rv..is that what you come up with...and that they have been pulling in the dinar for 2 years, rather some...they say 29 and 4 in the market in circulation.... trillions that is...so 4 trillion with business and 29 overall including out of country

[*Tenmillion] pattymelt So far that is speculation

[Chuckles] I am betting, Iraq is worth about $70 Trillion and can handle about $1 or $2 Trillion worth of USD value in PPP Monetary Base, without Monetizing Non Liquid Assets, IE Debt...... but rather can handle a couple Trillion US liability, in Cash Base. [9:25:33 PM] Enoch8: 30 To 40 times the current total

[JayP] but in their plans they talk about a 2 year plan.. 6 months to print the notes, and 18 month exchange..

[Chuckles] Im asking him to break it down for me as a musician...lol

[Chuckles] [9:30:49 PM] Enoch8: It means they can easily handle (Pay For), 3 or 4 cents, ($.03 to .04) without Lopping.

[JayP] yes, he can break those numbers down like few others I have ever seen chuckles!

[Chuckles] [9:31:10 PM] Enoch8: Or without monetization of non liquid assets.

[Chuckles] [9:31:46 PM] Enoch8: If they monetize just 10% of real wealth, they can go almost $.20

[JayP] well, on that thought, that is where I see how fatcat's point comes in to play here.. because, if they were to redenominate today, based on the the 25 trillion in circulation, that would leave them with 25 billion only...

[JayP] so, can they decide to do that chuckles? What I hope for, is that the Govt will force the hand of the CBI to need to do something like that

[Chuckles] JayP I did send Highlander a link proving the GOI can replace Shabibi

[Chuckles] so they can force the hand

[built to last] Fatcat So what you are saying is that they have pulled enough in?

[JayP] really? I was not aware of that either.. that is great info

[Chuckles] ill find it , it was from a declassified wikileak

[JayP] thank you Chuckles !!

[fatcat] Built to last well what enoch is saying is they need to be at 3 trillion to RV at $1.00 right

[Chuckles] yes fatcat

[built to last] fatcat yes

[fatcat] if they are pulling in the notes...why can we still buy?

[Chuckles] well think about it, we took in roughly 2 trillion old saddam..find the value when they cashed in..they printed 4-6 trillion

[Chuckles] there is where it needs to be

[Chuckles] the sweet spot

[Chuckles] we all know saddam was running the presses right before we went in, so the rate was not 3 bucks!!!

[built to last] fatcat not fair ..now you are asking questions?

[Chuckles] but iraq closed the borders and took in 2 trillion roughly

[Chuckles] Im of course excluding the swiss dinar which got a 150 to 1

[Chuckles] im talking saddam notes to new notes

[fatcat] could they be waiting for 3 trillion? if there gonna RV yes. Maybe thats why the cbi bank audit is not done yet

[dinarcimi] Jay what's your take on the security, do you think they can take care of themselves when the troops leave?

[JayP] right Chuckles . the rate when we went in there was actually over 2000:1

[JayP] http://treasury.un.org/operationalra...r&country=Iraq

[fatcat] I have seen pictures of there vaults and there full of 25k dinar ..must be trillions there

[Chuckles] id be stocked if they treated the 25 and 10ks like the swiss because that is basically what they use. The Saddam notes were mainly 250s and 10ks

[JayP] so the statements about an "RI" as the gurus out there like to call it, that is not going to happen

[built to last] fatcat ty...that was what I was thinking ...great point

[fatcat] yw

[uncirculd] iraq was under the hyperinflation of their currency with saddam...and now shabbs has brought it to a vialbe currency...enough to rv...but the question is will it be rv or rd.

[5aces] Fatcat that was my safe with all the dinar shhhh

[3-BALL] if it did J it would be 3.22 i don't think so to begin with

[ted] jayp,so what you are saying is,if they rd,then we will be lucky if we come out even on our dinars

[fatcat] if they did'nt print the 25k...they may not have had this problem

[JayP] nope 3-BALL. that is actually a popular misconception

[uncirculd] the sanctions made it hyperinflated...3.22 because he said so? not!

[JayP] it would actually be about 2200:1

[JayP] lol!!!

[Chuckles] a good place to start is looking up John B taylor (wrote Billions over baghdad) he also helped start up the forex, he was undersecretary of the treasury under Bush

[Chuckles] http://johnbtaylorsblog.blogspot.com...-monetary.html

[JayP] lol!!!

[Chuckles] smart man

[JayP] so a RI would actually be a devaluation technically

[Chuckles] they cant RI

[Chuckles] based on requirements

[Chuckles] 3 languages

[3-BALL] How? JayP

[fatcat] ted we would lose some...if we can sell it fast

[uncirculd] fatcat-- true, but they did and many of them....but this is how they curbed the inflation..and interest rates

[Chuckles] best case an rv with a simultanious RD

[fatcat] Uncirculd this went on to long...they had no choice

[Chuckles] its still all about contraction

[uncirculd] here's what i would like to know, with the dinars we hold and they soon to be dinars circulating together, will their be 2 exchange rates??

[Chuckles] Currency is a policy based value not commodity based product like gold

[3-BALL] no chance in the world Unc

[uncirculd] exactly 3-ball

[Chuckles] Uncirculd this is only my opinion..but you can't have 3 currencies (the old iqd the NID (new dinar) and the USD in circ)

[Chuckles] 3 is right

[uncirculd] so the articles have been saying both currencies will circulate together

[fatcat] look at the GDP and the net worth...Iraq is up there and have more gold than the world will ever know

[3-BALL] 2 exchange rate is wrong

[Chuckles] yup

[JayP] Chuckles .. that is true, but that said, it technically is what Romania did allow, a country which they have made reference to

[uncirculd] will be circulating together...sorry for typos again.

[3-BALL] Romania JayP

[Chuckles] yeah moving fast

[Chuckles] i look at several factors and try to think if iraq is my business (which currently seems to be operating like one, run by the US) what do you do?

[fatcat] Uncirculd they other countries that RD'ed ran together also

[uncirculd] so they cannot have 2 exchange rates...and the value is face... so think...how will the $25000 notes be the same as the 25 notes

[fatcat] Uncirculd one rate..one value

[Chuckles] but as far as iraq is concerned I ignore what Turkey, or other countries that lopped (redenomed/reverse currency split)

[pattymelt] they are the same value. When they purchase with the old they will be given change with the new.

[*Tenmillion] that is one theory pattymelt

[JayP] Uncirculd .. they technically could.. here is a pic of price tag in Romania in the redenomination period based on if the person was paying with the new or old leu http://en.wikipedia.org/ ··· _tag.jpg

[pattymelt] is this not all theory.

[Chuckles] what me and scott (scoots) have been looking at is Canada, look at canada vs the USD..canada population 33 mil Iraq roughly 30 ..Oil production for canada about 2.8 iraq 2.5 rough numbers but you get the point. canada vs usd is close to 1 to 1. So what will it take to justify a 1 to 1?

[Chuckles] the deal with canada is their exports isn't made up of just oil

[fatcat] Chuckles whats the money supply of Can?

[uncirculd] iraq can justify the value...the problem is goi, security, and numbness of the brain

[JayP] and the thing is there, I do not believe that their money supply is anywhere near Iraq's

[fatcat] JayP correct

[Chuckles] fatcat crud, i just had it up one sec

[Chuckles] lol!

[Chuckles] here are the canadian figures for 2010

[Chuckles] http://www40.statcan.ca/l01/cst01/econ07-eng.htm

[JayP] ty chuckles, so as a comparison, their total M2 supply is under a Trillion

[*Tenmillion] what about Chap 7...does anyone have any comments on that?

[dinarcimi] yes what is left of ch 7?

[3-BALL] chapter 7 has kuwait to deal with

[*Tenmillion] Kuwait issues

[*Tenmillion] JayP big thanks...especially to you! Great job!

[*Tenmillion] Thank you Chuckles!

[*Tenmillion] ok...if there aren't any other questions, I'm going to post this very informative, wonderful chat....thank you to all that participated

Tenmillion~

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jeepguy Mentor

jeepguy

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got too the area 51 late --- o kay next day ---- :blink: still i think we must have a .05 area just too stay in the game,,, this whole idea of 25000,oo =25.oo not good enough,, but if ya want the folks in iraq too really get angry ,,,, let them loose what value cash in dinar they have ,, they would never get weeined off the u s d and iraq dinar would not be traded on the for-ex for at least 2015 { j m o } ---------- > hello dogmatic

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