Statement made by Kaperoni to address JayP's attacks on his no LOP list

[JayP]

Where is your proof the CBI wants to do this? I did a bit of digging myself. Here is part of the April transcript from Shabibi. So Jayp, your information is false.

Shab’s answer:

Well thank you very much for this question and the ... ahmmm ....... even if I know the answer I cannot tell you .. (laughter) the thing is ... you cannot have an economist saying without....the answer depends, so the question here is if revaluation is really going to depend on what extent we are going to continue controlling the inflation.. as you know, if you go to the Central Bank website ... the first job is maintaining price stability .

Essentially every single 3 zero article, but I will just use a more recent one as an example with a quote from the CBI:

"The deputy governor of the Bank in favor of the appearance of the Kurdistan News Agency (Rn) that "the Central Bank of Iraq is working to issue new paper currency after deletion of zeros will be the class of 50 dinars which is equivalent to the current 50 thousand dinars."

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.aknews.com%2Far%2Faknews%2F2%2F274153%2F

They all say the similar thing, as well as referencing Turkey and other nations that have re-denominated, not revalued in the past. In fact, I do not recall a single article referencing a revaluation.

As far as the proof you just provided, that came from the Shabibi interview. Thank you for providing the quote, I respect your attempt at providing supporting info. I have to disagree with you though, because looking at that quote, I see nothing in there where he is guaranteeing anyone that it will revalue, or how this proves in any way that it cannot re-denominate, but maybe you can help clarify that for us since you are using this as a basis for your argument in this case. Thanks!

Edited November 26, 2011 by JayP

[HopefulTxn]

Where is your proof the CBI wants to do this? I did a bit of digging myself. Here is part of the April transcript from Shabibi. So Jayp, your information is false.

Shab’s answer:

Well thank you very much for this question and the ... ahmmm ....... even if I know the answer I cannot tell you .. (laughter) the thing is ... you cannot have an economist saying without....the answer depends, so the question here is if revaluation is really going to depend on what extent we are going to continue controlling the inflation.. as you know, if you go to the Central Bank website ... the first job is maintaining price stability .

There was a question asked about revaluation, which Shabibi was correct in stating that even if he knew he could not say. No central bank would announce ahead of time their intent to revalue their currency as it would work against them.

But if you listen to the very next question, which the person asked about their intentions to redenominate the currency, Shabibi actually goes into some detail on that topic.

[dinarcimi]

There was a question asked about revaluation, which Shabibi was correct in stating that even if he knew he could not say. No central bank would announce ahead of time their intent to revalue their currency as it would work against them.

But if you listen to the very next question, which the person asked about their intentions to redenominate the currency, Shabibi actually goes into some detail on that topic.

You beat me to it.

http://dinarvets.com...ips-in-english/

It might help to read the whole article LouG, and not take one sentence out of context. Hopeful is correct and if you looked around in here a little you would find all of the articles where an RD was implied by the CBI.

Go Iraq! Go Dinarians! Go RV!

Edited November 26, 2011 by dinarcimi

[RValreadywillya]

Everyone is entitled to their own opinions and translations. If you don't like how someone translates articles, then why do you waste your time reading it? Let alone get on a post and crab about it. Youre entitled to your opinion on how your investment will turn out and who you choose to listen too just like the rest of us.

[Shelley]

You do realize that what you are stating will not happen is exactly what has happened in every country that has gone through this process, right?

What everyone is hoping for is that Iraq becomes the very first country in history to make such a radical change/increase to the value of their currency.

About the inflation issue that you refer to, if you research previous redenominations you will find that country's that redenominated AFTER they got their inflation problems under control and stabilized at lower levels were far less likely to have to redenominate their currency multiple times.

I have a question about this statement.. And I don't want to get bashed for not knowing, I'm just looking for an answer...

How did Kuwait and Russia revalue their currency without redenominating it ???

[keepmwlknfny]

I think your confused. Look at what Jayp has written, if he has not come out and stated it, he implies very heavy that redenomination is what is going to happen.

What Jayp wrote is a few of the facts about redenomination that Kap and you seem to miss....correcting someone about being misinformed does not mean you are a proponent of that idea.....

I have a question about this statement.. And I don't want to get bashed for not knowing, I'm just looking for an answer...

How did Kuwait and Russia revalue their currency without redenominating it ???

Dont worry, you wont get bashed.....

Kuwait reinstated their value to the currency after the invasion, although it was never really lost except in the streets of Kuwait...its a lot different from whats going on in Iraq. Iraq cannot just reinstate a rate from decades ago.

Russia revalued their currency by redenominating it first....thats how it was able to gain value...they reduced the money supply, therefore adding value to the new currency....

The CBI is talking about revaluing by redenominating first, just like Turkey and many other countries including Russia did....

The govt of Iraq (Maliki) is actually against this idea which we should hope someone is and the fact that the govt has to approve this bill first only helps us speculators....the longer its drawn out, the better chance we have of this plan to be kicked out and hopefully another mechanism to raise the value of the dinar will be implented...

[wpsmit]

King (or Queen?) LOPSTER

[Shelley]

What Jayp wrote is a few of the facts about redenomination that Kap and you seem to miss....correcting someone about being misinformed does not mean you are a proponent of that idea.....

Dont worry, you wont get bashed.....

Kuwait reinstated their value to the currency after the invasion, although it was never really lost except in the streets of Kuwait...its a lot different from whats going on in Iraq. Iraq cannot just reinstate a rate from decades ago.

Russia revalued their currency by redenominating it first....thats how it was able to gain value...they reduced the money supply, therefore adding value to the new currency....

The CBI is talking about revaluing by redenominating first, just like Turkey and many other countries including Russia did....

The govt of Iraq (Maliki) is actually against this idea which we should hope someone is and the fact that the govt has to approve this bill first only helps us speculators....the longer its drawn out, the better chance we have of this plan to be kicked out and hopefully another mechanism to raise the value of the dinar will be implented...

Thanks Keep... I have wondered about that for awhile now, I got into this because I was told the story of Kuwait, with your explaination I guess it's apples to oranges

[Bumper64]

Dont worry, you wont get bashed.....

This is correct! Next person that attacks or bashes in this thread will loose their post abilities for 7 days!!

Let's keep it clean!!

Thanks

Bump

p.s. if someone get's bashed in this thread from this point on let me know and I will have to relieve the person who is bashing from posting for a while!

[keepmwlknfny]

This is correct! Next person that attacks or bashes in this thread will loose their post abilities for 7 days!!

Let's keep it clean!!

Thanks

Bump

p.s. if someone get's bashed in this thread from this point on let me know and I will have to relieve the person who is bashing from posting for a while!

Get'em bump!

Thanks Keep... I have wondered about that for awhile now, I got into this because I was told the story of Kuwait, with your explaination I guess it's apples to oranges

It is apples to oranges unfortunately....but that doesnt mean that Iraq does not have the ability to have a higher valued dinar because they do, it just cant be done in the same fashion as what happened in Kuwait....

Iraqs decline in value with the dinar started decades ago, not just from the invasion in 2003....by that time the value of the dinar was already in the crapper due to Saddam spending all the foreign currency reserves (which back the value of the currency) and by excessively printing dinar and inflating it heavily (which also attributed to the value dropping)

Kuwaits dinar was deemed invalid by Saddam when they invaded and didnt want people using it so thats how it pretty much lost its street value, then as the US liberated Kuwait from Iraqi forces, the central bank of Kuwait printed new currency, let people exchange old for new, and the value on the streets went right back to where it was.....

To this day I have never seen anything showing the value of the Kuwaiti dinar dropping in value on the international stage...

But for Iraq to raise the value of the dinar they need to find a way to reduce the current money supply (without lopping), raise the foreign currency reserves even more (its at like 60billion right now) and their GDP needs to pick up as well.....they can pull this off, its just a matter of following through and making progress....and we cant forget that it will take some time....it definately wont be overnight...

[sonny1]

the thing about this is this, as keep and hopeful, are very smart dudes, they know how this will go down no better than kap-med-bondlady-or myself. it would be way more productive though if they discussed how it could happen,rather than how it wont happen, the only truth to this is the fact iraq's currency is way undervalued, and what the lop crew seems to forget is the fact that when iraq does rv, there money rv's as well. i am not going to say they will rv at a tk rate of $8.00 but $.10-.30 is very realistic...

[Snatcher]

Kap destroys his own credibility every time he refers to a redenomination as a devaluation. A 25000 dinar note worth 21 bucks becomes a 25 dinar note worth 21 bucks. How is that "taking their wealth"? It isn't.

Took their wealth in 2003? The exchange rate in 1995 was 3000 to 1. No one took their wealth in 2003. Anyone that did five minutes of research would know this, why doesn't Kap?

Don't know about you but I'd rather have 25,000 dinar @ the new rate, than 25 dinar @ the new rate...To me I'm buying a number of dinar regardless of what i paid for it, then for someone to come along and take 24,975 of them away and say it's the same as 25 dinar. That's not flying with me nor do i believe that is what will happen. Tell an American you have 25,000 dollars and we are taking 24,975 away and leaving you with 25 but we will give you 1 to 3 per dollar you now have..I wonder how we Americans would feel? When i was in Germany we purchased a number of marks for the dollar and when it started sliding the other way there was no talk about what we paid for the mark it was the number of marks we had, not what price we paid for them. This is why I don't believe Iraq will do this...

I don't know what your smoking but going from 3usd for 1iqd, to 3000 iqds for 1usd is being taken...

Edited November 26, 2011 by Snatcher

[Shelley]

Thanks Keep, I definitely feel more educated on that matter now , I really appreciate it . Know I have another question, in all your research on this , did you ever come across any articles that state what actual days of the week Iraq had to exchange old for new in 2003 ??? Am I asking too many questions ???

[HopefulTxn]

I have a question about this statement.. And I don't want to get bashed for not knowing, I'm just looking for an answer...

How did Kuwait and Russia revalue their currency without redenominating it ???

Those are two different scenarios.

In regards to Kuwait, the CBK never lowered the value of the currency. They were invaded and Saddam declared the national currency of Kuwait to be illegal and imposed a 1:1 exchange rate between the IQD and the KWD, giving a set amount of time to exchange. After Kuwait was liberated by the coalition forces, they replaced the 'old' currency with a 'new' edition and simply restored the value to what it was before Saddam invaded and declared it illegal.

One thing to note, with the KWD - even after Saddam had declared the 1:1 exchange with the IQD and such, if you could get it out of Kuwait and to Saudi Arabia it is said that exiled Kuwaiti's were still buying the KWD at its real market value of ~$3.50 per.

In regards to Russia I am not sure what you are referring to as they did do a 1,000 old ruble to 1 new ruble change/redenomination that occurred on January 1st, 1998. LINK

[Shelley]

Those are two different scenarios.

In regards to Kuwait, the CBK never lowered the value of the currency. They were invaded and Saddam declared the national currency of Kuwait to be illegal and imposed a 1:1 exchange rate between the IQD and the KWD, giving a set amount of time to exchange. After Kuwait was liberated by the coalition forces, they replaced the 'old' currency with a 'new' edition and simply restored the value to what it was before Saddam invaded and declared it illegal.

One thing to note, with the KWD - even after Saddam had declared the 1:1 exchange with the IQD and such, if you could get it out of Kuwait and to Saudi Arabia it is said that exiled Kuwaiti's were still buying the KWD at its real market value of ~$3.50 per.

In regards to Russia I am not sure what you are referring to as they did do a 1,000 old ruble to 1 new ruble change/redenomination that occurred on January 1st, 1998. LINK

Thanks Hopeful, Keepm jumped in earlier and gave me the same answers. Thanks for the lesson, it was truely needed and appreciated.

[keepmwlknfny]

Thanks Keep, I definitely feel more educated on that matter now , I really appreciate it . Know I have another question, in all your research on this , did you ever come across any articles that state what actual days of the week Iraq had to exchange old for new in 2003 ??? Am I asking too many questions ???

I have never personally seen any mentioning of days of the week that this occured on.....most references just state that the exchange was a 1 to 1 ratio (old for new) except for the swiss dinars which were a higher value and those were exchanged 1 for 150 of the new....

You can never ask too many questions about something you invest your money in!!

[rockinrich]

ok for one thing dinarcimi i was there that night ten and jay p came in and they did both come in under fake names and you were there also doing the same b.s. so your lying there and keep walkin you must belong to ten's site its obvious you dont know crap about the dinar they must have taught you everything they they know lol kap's been one of the very few guys out there that relies on fact and articles and not b.s. like some moron's and jay p would have never made his comments he did if kap didnt ban him from his site for being a moron and ten also is just showing her immaturity and her knowledge about this investment it clearly shows by the amount of peep that are on their site no one listens to what those two have to say!!

[poke salad annie]

Well he seems to do quit well understanding it. And i think you need to stop posting negative comments about others to make yourself look better. It's not working. You better hope for a RV, then you can get a facelift.

You make a negative comment here, devoid of any thoughtful content. You accused me of being on a crack pipe, in a similarly empty comment because I understand what the RD process involves. Please raise the level of discourse. If all you can do is throw insults around, you're not contributing to any interesting or thought provoking dialogue.

[Dah-kota]

Just got an email from Robin (dhardage) and she asked me PLEASE

send out one of her *Famous Group* hug ....

I have a feeling she's gonna be missing US on her cruise!

I know I'll be missing her witty humor

Go>>>>RV

[poke salad annie]

the thing about this is this, as keep and hopeful, are very smart dudes, they know how this will go down no better than kap-med-bondlady-or myself. it would be way more productive though if they discussed how it could happen,rather than how it wont happen, the only truth to this is the fact iraq's currency is way undervalued, and what the lop crew seems to forget is the fact that when iraq does rv, there money rv's as well. i am not going to say they will rv at a tk rate of $8.00 but $.10-.30 is very realistic...

I tried to talk about how it could happen and LouG told me to get off my crack pipe.

[keepmwlknfny]

ok for one thing dinarcimi i was there that night ten and jay p came in and they did both come in under fake names and you were there also doing the same b.s. so your lying there and keep walkin you must belong to ten's site its obvious you dont know crap about the dinar they must have taught you everything they they know lol kap's been one of the very few guys out there that relies on fact and articles and not b.s. like some moron's and jay p would have never made his comments he did if kap didnt ban him from his site for being a moron and ten also is just showing her immaturity and her knowledge about this investment it clearly shows by the amount of peep that are on their site no one listens to what those two have to say!!

Im a member of a few different sites so Im neutral to many except the fairy tale dinar forums that dont allow any serious discussion on what outcomes we are facing. Instead they make the subject taboo and dont let anyone talk about it....thats real smart dont you think?? Shouldnt these forums be about the truth? Not about hyped up forum facts that have no factual basis??

Dont be upset because your leader pepperoni is misinformed about this subject....thats what happens when you believe everything we see is related to Iraq raising the value of the currency....and when your afraid to say anything but what everyone wants to hear....gotta keep his flock around ya know? If kaperoni was relying on facts and articles we wouldnt be having this conversation and he wouldnt have made that silly post....

[rockinrich]

This will probably ge taken down but i hope you read it first keep walking where do you getoff comparing kaperoni to all these other morons like okie,bear ghost scotty g and ill throw two other idiots in there ten and jay p why dont you come into his chat room and state your case if you think he doesnt know what he's talking about youd lose and you know that i for one would love to see you try to match wits with him hes the only one out there also thats accesssibel to anyone as he goes on mtt quite a bit and answers questions unlike these other morons so if you have any nads i look forward to seeing you come into our chat otherwise just go clean your room like your mom told you to!

[LouG]

Im a member of a few different sites so Im neutral to many except the fairy tale dinar forums that dont allow any serious discussion on what outcomes we are facing. Instead they make the subject taboo and dont let anyone talk about it....thats real smart dont you think?? Shouldnt these forums be about the truth? Not about hyped up forum facts that have no factual basis??

Dont be upset because your leader pepperoni is misinformed about this subject....thats what happens when you believe everything we see is related to Iraq raising the value of the currency....and when your afraid to say anything but what everyone wants to hear....gotta keep his flock around ya know? If kaperoni was relying on facts and articles we wouldnt be having this conversation and he wouldnt have made that silly post....

Funny how you can continually bash everyone in every single post and no one kicks your ass off the site. I guess it says what this site is really about. Not facts, or discussion, but obnoxious jerks with little weenies.

[rockinrich]

thats not what your mom said pal!

lou g i apologize to you i didnt look at who posted the littel weinine comment i thought it was keep walking i meant it for him my apologies bud!

[tampa1000]

Kape, you're the man, tell them like it is!!!