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Perhaps this is a dumb question this late in the game. I am seeing a lot of references lately to the overwhelming and seemingly endless supply of IQD in circulation. Four trillion? 41 trillion? More? Additionally, there seems to be continuous selling of Dinar going on for those who want just a few more anticipating an imminent RV. What backs the production of all this currency? Presumably, I have always been led to believe that every US dollar printed had its value backed in gold. This was a check and measure to control production and a balance of our money supply and currency.

I do not know what backs the many trillions of Dinar printed. It could be oil down the road, but I would not think so at present, since there is no legitimate connection evident since there is no HCL agreement. Additionally, it appears all oil transactions at present are done in USD. Therefore, what balances and validates this currency to justify a RV? Thanks in advance to those who can educate me.

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Well, I do not believe that the US Dollar is backed by gold any longer and has not been for some time. I can't answer your question though? I believe confidence in the country and currency has something to do with it though. So the stronger Iraq gets in many areas such as government and commerce the better, is what I have an understanding of it's value. I look forward to reading what smarter people than I have to say though.

r2

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The dollar has always been backed by the gold reserves that are kept at Ft. Knox. Otherwise it would be worhtless unless we had something else to back it, like oil. The Dinar is backed by the potential of all the oil in the ground. The UST keeps the dinars that are cashed in and will trade for oil or a lower oil price. There is no mystery to any of this. Anything else that is said is just convoluted logic!

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I am amazed at the amount of people out there that are still clueless about how our banking system works and believe the "federal reserve " is a govt agency...people need to WAKE THE HECK UP!!!!!!

instead of reading the new label on the side of your favorite beer can, they need to be reading imporatnt things.

and yes im refering to people like you joseroque.and then have the nads to post....

>>>>>Anything else that is said is just convoluted logic!<<<<

you really need to spend a weekend at you computer and do alot of reading

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Alot of the gold in Fort Knox does not even belong to us anymore because we sold so much to others, we just hold it for them.

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the other day i watched a video "Peter schiff" (my favorite economist) did, he was interviewing the OW fleabaggers i was amazed how uneducated these folks were and they were marching for a "cause" when asked what they were marching for i was amazed by the answers that were giving. the one guy had the odasity to the peter schiff that he was part of the problem. (peter schiff was the economist back in 2005 that called this banking/economic crash)

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don`t know about your dollars,,,but my dollars are backed by that guy at the bank,,he or she , has a little drawer full of u s dollars,, hahahahaha good read folks

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TrinityeXchange, thank you for your informative and polite response to this question. I have not seen the video, but will spend some time watching it today. Like many people here, I spend a lot of time researching but unfortunately, I don't have a background in banking, finance, Middle Eastern politics, etc. There is so much information out there. It really helps when the more informed members can point us in the right direction. You and many others do this often and quite patiently, so plus one to you.

My background is automotive products liability defense. Totally useless here. But I can tell you exactly what happens when a seatbelt fails or an airbag doesn't deploy in an accident sequence. just FYI, everyone should have a blunt object like a hammer in the driver door of their car to break themselves out of the window (doors often overheat and "melt" shut in an accident) as well as a pair of scissors taped to the driver door (to cut yourself out of your seatbelt in the event the belt fails, happens often, or to rescue a child trapped in a car seat). That's my utterly useless 2 cents for the day. Just want to keep you DV members safe pre and post RV!

Everyone have a great day and go RV!

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The Federal Reserve is not the big baddie everyone thinks. Yet it has acted that way from our perception, however consider theirs...

They have taken control of countries, as many people accept, albeit with disgust. What needs to be realised is that it is countries and sovereign states that want to live under a substance backed system which created scarcity and a division between a wealthy elite and the rest of us.

The FED sought to change this, and fiat currency is a major tool. The big problem with their actions to date however, is that they believe the ends justify the means (as well as individual greed clouding the matter). They believe they have to lie, and cheat, and steal, in order to create a better future for us all. The fact is, this better future can be arrived at without going through all the pain, and without the lies etc, if only they would instead raise everyone's understanding. In due course, countries will regain control likely temporarily, however all will soon realise that is not beneficial to most of us. So whilst the FED is acting badly imo, the way it is set up, the international infrastructure that the private establishments have set up across the globe are perfect to be used for our actual benefit. All that is needed is an adjustment in perspective by those in control of it, or their replacement.

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The dollar has always been backed by the gold reserves that are kept at Ft. Knox. Otherwise it would be worhtless unless we had something else to back it, like oil. The Dinar is backed by the potential of all the oil in the ground. The UST keeps the dinars that are cashed in and will trade for oil or a lower oil price. There is no mystery to any of this. Anything else that is said is just convoluted logic!

House Joint Resolution 192 of June 5, 1933

On June 5, 1933, Congress passed House Joint Resolution (HJR 192). HJR 192 was passed to suspend the gold standard and abrogate the gold clause in the national constitution. Since then no one in America has been able to lawfully pay a debt. This resolution declared:

"To assure uniform value to the coins and currencies of the Unites States,

Whereas the holding of or dealing in gold affect public interest, and are therefore subject to proper regulation and restriction; and

Whereas the existing emergency has disclosed that provisions of obligations which purport to give the obligee a right to require payment in gold or a particular kind of coin or currency of the United States, or in an amount in money of the United States measured thereby, obstruct the power of the Congress to regulate the value of the money of the United States, and are inconsistent with the declared policy of the Congress to maintain at all times the equal power of every dollar, coined or issued by the United States, in the markets and in the payment of debts,

Now, therefore, be it Resolved by the Senate and House of t Representative of the United States of America in Congress assembled, that

(a) every provision contained in or made with respect to any obligation which purports to give the obligee a right to require payments in gold or a particular kind of coin or currency, or in an amount in money of the United States measured thereby, is declared to be against public policy; and no such provision shall be contained in or made with respect to any obligation hereafter incurred. Every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at time of payment is legal tender for public and private debts. Any such provision contained in any law authorizing obligations to be issued by or under authority of the United States, is herby repealed, but the repeal of any such provision shall not invalidate any other provision or authority contained in such law.

(B) As used in this resolution, the term 'obligation' means any obligation (including every obligation of and to the United States, excepting currency) payable in money of the United States; and the term 'coin or currency' means coin or currency of the United States, including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations.

Sec. 2 The last sentence of paragraph (1) of subsection (B) of section 43 of the Act entitled 'An Act to relieve the existing national economic emergency by increasing agricultural purchasing power, to raise revenue for extraordinary expenses incurred by reason of such emergency, to provide emergency relief with respect to agricultural indebtedness, to provide for the orderly liquidation of joint-stock land banks, and of other purposes;, approved May 12, 1933, is amended to read as follows:

"All coins and currencies of the United Stated (including Federal Reserve notes and circulating notes of the Federal Reserve banks and national banking associations) heretofore or hereafter coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues, except that gold coins, when below the standard weight and limit of tolerance provided by law for the single piece, shall be legal tender only at valuation in proportion to their actual weight.'

Approved, June 5, 1933, 4:40 p.m. 31 U.S.C.A. 462, 463

House Joint Resolution 192, 73d Congress, Sess. I, Ch. 48, June 5, 1933 (Public Law No. 10 )

Note: "payment of debt" is now against Congressional and "public policy" and henceforth, "Every obligation . . . Shall be discharged."

As a result of HJR 192, and from that day forward (June 5, 1933), no one in this nation has been able to lawfully pay a debt or lawfully own anything. The only thing one can do, is tender in transfer of debts, with the debt being perpetual. The suspension of the gold standard, and prohibition against paying debts, removed the substance for our common law to operate on, and created a void as far as the law is concerned. This substance was replaced with a "PUBLIC NATIONAL CREDIT SYSTEM" where debt is "LEGAL TENDER" money.

HJR 192 was implemented immediately. The day after President Roosevelt signed the resolution, the treasury offered the public new government securities, minus the traditional "payable in gold" clause.

192 states that one cannot demand a certain form of currency that they want to receive if it is dollar for dollar. If you review the Modern Money Mechanics article you will discover that all currency is your credit! The Federal Reserve calls it "monetized debt."

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If you review the Modern Money Mechanics article you will discover that all currency is your credit!

Indeed. However this need not be an issue, it is simply a matter of perspective, and the subjective nature of words means that many will take this as being a bad thing. It is more division and conquer; rather than dividing you against your neighbour, it divides you and your neighbour from those in control... the end result being that you won't take it anymore at some point and will physically rebel. This is NOT the answer. Those in control are part of you too, no different from your neighbour. You are all One.

Credit is merely a pledge of energy in the future. However given most monies are created against the trust of the individual receiving that money, said credit does not need to be repaid, unless someone other than yourself controls said trust and demands repayment. There is nothing wrong with not having control, the issue lies with who actually controls it instead, and their intentions. For the past few decades it has been controlled by individuals seeking to line their own pockets at the same time as "teaching us a lesson" (a harsh one!) in order to raise us all as one, however this is soon to change.

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This is a great question! Can anybody here prove what backs dinar? Mineral wealth or belief.....

Neither....its the foreign currency reserves that are held in the CBI....

Since the dinar is a pegged currency to the USD it has to have something backing it....there is no faith in the dinar right now in the international community so going away from a pegged currency could hurt them drastically....

They have currently about 60 billion (USD value) in their reserves....its made up of USD, the Euro and I think the Yen or something like that....cant remember exactly so you will have to excuse me on that lol but if you take that 60 trillion (total money supply of Iraq) and divide it by the exchange rate (1170) you will see that the amount they have in reserves backs the value of the dinar 110% at this moment.....

That pretty much tells you that for every 1170 of dinar in the money supply is backed by 1 dollar or equal value bill....

I dont know of any country that has or is able to back the value of their currency stricktly on the fact of how much oil they have or resources availible.....otherwise I know alot of countries would have a higher valued currency....look at all the oil producing countries and see the average exchange rate....its not as high as you would think they could support based off their oil/resources

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TrinityeXchange, thank you for your informative and polite response to this question. I have not seen the video, but will spend some time watching it today. Like many people here, I spend a lot of time researching but unfortunately, I don't have a background in banking, finance, Middle Eastern politics, etc. There is so much information out there. It really helps when the more informed members can point us in the right direction. You and many others do this often and quite patiently, so plus one to you.

thank you canuklady. i am grateful for your words. learning this stuff is a slow process because the mentality of the student has to be destroyed so that it can be re-educated. for instance the posting of "one" is absolutely spot on but it is too much to dump on an unsuspecting individual all at once. people have to be spoon fed this information. i use to dump on people in a one hour talk session and after about 10 minutes i would watch their eyes glaze over. so take your time and review the "money as debt" video a few times until it sinks in. then move on to other resources. it will help the re-education process be a little less painful.

soon you will come to an understanding and remember that i told you these things:

  1. the money of the world is fiat (decreed)
  2. there is no money
  3. all property belongs to the state because the power to "buy" has been relieved from the people
  4. all courts are "colour" courts governed by "color of law" (black's law rv 4 - the appearance or semblance, without the substance, of legal right)
  5. all deemed "law" is now "legal" as opposed to "lawful" and is a derivative of admiralty law or commercial law (ever wonder why a traffic cop requires you to sign a contract? or a judge as you "do you understand the charges"? these are contractual terms)

yes many will speak about money and new monetary policy being without substance but the GREATEST matter you MUST come to understand is "HOW THIS AFFECTED THE COURTS".

here is food for thought and i will leave it at this: you own a milk stand and i am a patron. we are back in time of substance money (scripts that transferred gold on demand). my gold-money bought your milk AND your milk bought my gold-money. there was fair exchange...value for value. things changed now though. what does your milk buy now when i come to your store?? my money is now a promise.. a debt instrument...a note...a message that 'one day this promises to be redeemable in substance once substance returns to monetary policy'. so you give me milk and i give you a promissory note. did we exchange value for value? NO. now the bigger question....how can the courts rightly judge if you and i have a fight over the milk you sold me? it poses a big problem because there was never any just EXCHANGE predetermined to begin with.....so the courts had to rewrite their system of law. this is evidenced in 1938 "Eerie Railroad vs Tomkins" (dont look it up yet...it will confuse you).

be blessed my friend. pm me should you want additional resources. i have tons stored on my google share and have it sectioned in beginner, medium, and advanced level of studies. i will be glad to share it.

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The dollar has always been backed by the gold reserves that are kept at Ft. Knox. Otherwise it would be worhtless unless we had something else to back it, like oil. The Dinar is backed by the potential of all the oil in the ground. The UST keeps the dinars that are cashed in and will trade for oil or a lower oil price. There is no mystery to any of this. Anything else that is said is just convoluted logic!

This is not true:

or nearly a half-century the United States and the rest of the world have experienced an unprecedented continuous and severe inflation. It has dawned on an increasing number of economists that the fact that over the same half-century the world has been on an equally unprecedented fiat paper standard is no mere coincidence. Never have the world's moneys been so long cut off from their metallic roots. During the century of the gold standard from the end of the Napoleonic wars until World War I, on the other hand, prices generally fell year after year, except for such brief wartime interludes as the Civil War.[1] During wartime, the central governments engaged in massive expansion of the money supply to finance the war effort. In peacetime, on the other hand, monetary expansion was small compared to the outpouring of goods and services attendant upon rapid industrial and economic development. Prices, therefore, were normally allowed to fall. The enormous expenditures of World War I forced all the warring governments to go off the gold standard,[2] and unwillingness to return to a genuine gold standard eventually led to a radical shift to fiat paper money during the financial crisis of 1931-33.

The Gold Standard: Perspectives in the Austrian School. Edited with an Introduction by Llewellyn H. Rockwell, Jr. Copyright © 1992. The Ludwig von Mises Institute. Auburn, Ala. Pp. 116-130; The Gold Standard: An Austrian Perspective. Lexington, MA: D.C. Heath, 1985, pp. 1-17; Reprinted in The Logic of Action One: Method, Money, and the Austrian School. Glos, UK: Edward Elgar Publishing Ltd., 1997, pp. 364-383.

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and unwillingness to return to a genuine gold standard eventually led to a radical shift to fiat paper money during the financial crisis of 1931-33.

nice quote pt. one thing to consider though. is it fiat that is destroying our fabric of society or FIAT AT INTEREST :) this is the point never addressed by politicians. if there were 3 people in the world, me - you - eddie. i am the banker. i create $40 and give $20 to you and $20 to eddie. i tell you that i am loaning you this at 10% interest. this means that you and eddie must both repay me $22. if i only created $40, where are you going to find the interest? LOL. you will have to beat eddie out of his $2 in order for you to keep your promise correct? lets say you do that. now eddie is down to $18 but owes me $22. where does he get the other $4? answer - he never will. i have created a system of perpetual servitude. and this is the problem with current monetary policy. as long as the united states government created the green back then our country prospered at an unprecedented level BECAUSE there was no interest associated with the green back. the banks of england went to war against the government to destroy the green back (money without interest) and re-institute (money at interest). and the result is world domination through perpetual debt.

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In respect of the comments regarind fiat currency being worthless.. this is another example of divide and conquer. You're picking a side. Pick a side and you lose. The trick is to simply be aware.

One could argue that the concept of value, is as subjective as anything.

Accordingly, something may be of great value to one person and no value to someone else.

Since in the milk-patron scenario you paint you have both accepted the offer from the other party, the answer to "did we exchange value for value" is actually Yes. The fact that the "money" is merely a promise on a piece of paper is irrelevant; the recipient only can determine what he himself values said note as and therefore in accepting it he is accepting that the exchange is value for value, as are you through your actions despite your words suggesting the contrary.

Actions speak louder than words my friend - and the law recognises this. ;)

The fact that others also accept that these pieces of paper have value, is not a problem, it is a blessing. This invention effectively means that energy is being created out of nothing but promises. That energy is created as a result of the apparent value of a note which creates WILL - the will for someone to do something, be it work or creation, because they see a reward at the end. It is therefore effectively a system that allows unlimited energy, so it is a WILL-CREATION-MACHINE (lol). Without that will, there is no innovation, and less sharing due to fear, and the negative spiral continues.

With regard to the courts, they are all simply administrative, and deal with whatever colour of law they are presented with - jurisdiction generally being set by actions rather than words (if it's words, these tend to create an action anyway through the filing of x form etc). They appear corrupt, however they are not in the main - this is simply how it appears when one does not comprehend what is happening correctly. If you argue a "debt" whether you view it as fictional or not, given you accepted it at the time, you are now in dishonour without the debt being paid (be that through your labour or through administrative.. which I presume you know about.

There is another way. Bitterness and resentment towards the system is all that is holding the world back.

The entire point of the system, is a stepping stone to something better.

We've had substance backed. This creates haves and have-nots because the substances are scarce, and controlled by whomever is strongest.

The fiat system attempted to address this, but due to poor use (arguably, others would say via intention, and others again would say intentionally but for the right reasons) this has made things worse.

It has however opened people's eyes, and changed some attitudes, and has served as part of the learning curve.

Eventually, money as a concept will be redundant due to a change in people's attitudes and wills; they will choose to help one another without force (or necessity for laws ie rules), be that force overt or implied. However, to reach this point, the current system must first be explained and used so that all can benefit. Once all are thriving, only then will people realise that they don't need the system, and all is accomplished through attitudes and will. Or not. We could just keep this tool... just remember that's all it is, a tool, not a weapon, nor a prison, unless we choose to view it that way.

Currently, the world is full of wars and disagreements. Those rebelling against the system are equally culperable with those in control; it takes two to tango ;) Those in control believe they are doing what is necessary to save the people from themselves, and therefore the more you rebel, the tighten their grip on you will become. Want freedom? Let go! The road would be a lot smoother. We will reach our destination one way or the other, but through rebellion, this journey will be painful and the destination not necessarily the one we would wish due to the control inflicted upon our minds shaping our thoughts and consequently shaping reality around us. Violence and rebellion, begets violence and rebellion by the opposing force that is always created as a resort. It is perpetual and can only be broken by one side taking the higher ground!

So, back to value. It is your choice not to recognise the value, however it is this that dooms the system and could return the world to scarcity. I fully appreciate why you have made that choice, however recognising the value with full awareness of what you are doing and why would present a different choice - and the terms of the debate would no longer be controlled as they currently are. Enhance the system and enhance the world; it's only achievable through acceptance through awareness. Currently you are your own worst enemy; some would say confused since your actions do not match your words.

Those in control, are effectively machines. They are blinded in their actions by their beliefs. Make some changes in your heads and see how they start to act differently all of a sudden... it's happening before our very eyes right now but most remain unable to see it.

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thank you canuklady. i am grateful for your words. learning this stuff is a slow process because the mentality of the student has to be destroyed so that it can be re-educated. for instance the posting of "one" is absolutely spot on but it is too much to dump on an unsuspecting individual all at once. people have to be spoon fed this information. i use to dump on people in a one hour talk session and after about 10 minutes i would watch their eyes glaze over. so take your time and review the "money as debt" video a few times until it sinks in. then move on to other resources. it will help the re-education process be a little less painful.

soon you will come to an understanding and remember that i told you these things:

  1. the money of the world is fiat (decreed)
  2. there is no money
  3. all property belongs to the state because the power to "buy" has been relieved from the people
  4. all courts are "colour" courts governed by "color of law" (black's law rv 4 - the appearance or semblance, without the substance, of legal right)
  5. all deemed "law" is now "legal" as opposed to "lawful" and is a derivative of admiralty law or commercial law (ever wonder why a traffic cop requires you to sign a contract? or a judge as you "do you understand the charges"? these are contractual terms)

yes many will speak about money and new monetary policy being without substance but the GREATEST matter you MUST come to understand is "HOW THIS AFFECTED THE COURTS".

here is food for thought and i will leave it at this: you own a milk stand and i am a patron. we are back in time of substance money (scripts that transferred gold on demand). my gold-money bought your milk AND your milk bought my gold-money. there was fair exchange...value for value. things changed now though. what does your milk buy now when i come to your store?? my money is now a promise.. a debt instrument...a note...a message that 'one day this promises to be redeemable in substance once substance returns to monetary policy'. so you give me milk and i give you a promissory note. did we exchange value for value? NO. now the bigger question....how can the courts rightly judge if you and i have a fight over the milk you sold me? it poses a big problem because there was never any just EXCHANGE predetermined to begin with.....so the courts had to rewrite their system of law. this is evidenced in 1938 "Eerie Railroad vs Tomkins" (dont look it up yet...it will confuse you).

be blessed my friend. pm me should you want additional resources. i have tons stored on my google share and have it sectioned in beginner, medium, and advanced level of studies. i will be glad to share it.

Thank you, thank you, thank you! I just watched the video. Some of it I was familiar with, but it blew my mind, because of new information I learned and the broader questions it asks. Questions I personally never pondered because, since I had my kid, I am too busy, distracted, and tired to think. That's what this venture has done for me, it has me thinking and thinking globally. This came up on the perfect day, with my child hanging out with his grandparents today I actually have time to process this. I am watching the video again tonight. Then I am going to go through this thread again. I notice there's a part 2 to the video, I am going to save that for tomorrow evening. Be blessed as well. Thanks again!

WOW! I FEEL LIKE I JUST TOOK A CRASH COURSE ON U.S. CURRENCY 101 :blink:

THANKS ALL FOR THE REALLY INFORMATIVE READ! :tiphat:

Agreed! Thanks to everyone who participated. One, you really dropped some knowledge! Thanks.

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