Another rumor debunked?

[DiveDeepSix]

I keep seeing over and over that some people swear up and down that Iraq has RV'd in country at $3+. However if what the CBI is saying is correct about pumping USD into their economy buying up IQD to get ready for an RV, you would think the Iraqi citizens would know something was up and hold onto their IQD if it really had RV'd in country. Someones sisters, cousins, roommate had a friend who knew a girl who would spill the beans. So I would conclude that the in country RV myth is: BUSTED. I would also say it was a good sign for us with them lowering their in country IQD supply by doing such and this should be good for us as we move forward the more they have collected the less an RV would cost them the higher they could go. This also would point to the other myth that USD is now no longer used in Iraq is also: BUSTED. Why would they pump money into the country if they couldn't use it? I could be missing something here or way off but it makes sense to me. Any thoughts?

[Hamels]

I have never listened to anyone who even once said that it would RV at over $3.00...I thought Rumors was a Album by Fleetwood Mac in the 1970's...and YES, you are a myth-buster, is that you on the TV show???

[pizzaman]

I keep seeing over and over that some people swear up and down that Iraq has RV'd in country at $3+. However if what the CBI is saying is correct about pumping USD into their economy buying up IQD to get ready for an RV, you would think the Iraqi citizens would know something was up and hold onto their IQD if it really had RV'd in country. Someones sisters, cousins, roommate had a friend who knew a girl who would spill the beans. So I would conclude that the in country RV myth is: BUSTED. I would also say it was a good sign for us with them lowering their in country IQD supply by doing such and this should be good for us as we move forward the more they have collected the less an RV would cost them the higher they could go. This also would point to the other myth that USD is now no longer used in Iraq is also: BUSTED. Why would they pump money into the country if they couldn't use it? I could be missing something here or way off but it makes sense to me. Any thoughts?

LMAO J . Now sit back and try to enjoy the ride. The movieis pretty hilarious from time to time and every once and awhile you can join injust for ***** and giggles.

Edited December 29, 2011 by Markinsa
Language

[MrDinarman]

$3 huh? I told those people to lay off the meth... they never listen.

[lomeygoat]

$3.00, When? Tomorrow...Step away from the crack pipe!!

[STI4RV]

This rumor has been debunked for awhile this is nothing new. The search button could of solved this concern a long time ago...

[Lenape]

I just checked my Warka account. If it did RV in country that would show it as I am a resident account holder.... Debunked, Myth Buster Style Happy New Year everyone, be safe B)

Edited December 29, 2011 by Lenape

[capt.cliff]

Jmo but the number of .10 cents to 11.00 dollars is really immaterial---if this is true the Iraqis have turned in thier 000s for US Dollars BECAUSE there is a need to SURVIVE day to day---they don't understand or trust thier own currencey or what backs it up---that is fine and understandable---now it would be a MASTER stroke to appeal to the Fear and greed to have them turn in the OOOs becuase they have already lost so much value with the Saddam era, now when the RV/RI happens they would have to turn in thier dollars [by law] for dinars, the only currency accepted for exchange --IN COUNTRY, day to day, AT A WAY BIGGER EXCHANGE RATE- thus increaseing personal wealth [calling it restored wealth] from the top to the bottom!

This is a very new and unreported possibiliy ---- I really like this senario--- I would love to see this happen ---we are immaterial as spectulators--Shabbs could be a master mind---the only caveat I have is ---WHO does Shabbs truly support ---himself or who?

[DiveDeepSix]

I just checked my Warka account. If it did RV in country that would show it as I am a resident account holder.... Debunked, Myth Buster Style Happy New Year everyone, be safe B)

I love the myth busters! I never said I believed it would come out any where close to 3 dollars gang, that was what these posts said nor do I believe that, although it would be awesome as I would be buying a nice 50+ foot Hatteras for a family Christmas present , I would guess from .10 to 1.00 if we are lucky and I lost my crack pipe, I think maybe FreeForAll Bill has it under the freeway overpass. Just thought it made sense for them to be pulling in the money was a means to an RV end game wondered what you all thought about that. Wasn't directing this back at you Lenape other than I love MB show too and have a Happy New Year as well!

Jmo but the number of .10 cents to 11.00 dollars is really immaterial---if this is true the Iraqis have turned in thier 000s for US Dollars BECAUSE there is a need to SURVIVE day to day---they don't understand or trust thier own currencey or what backs it up---that is fine and understandable---now it would be a MASTER stroke to appeal to the Fear and greed to have them turn in the OOOs becuase they have already lost so much value with the Saddam era, now when the RV/RI happens they would have to turn in thier dollars [by law] for dinars, the only currency accepted for exchange --IN COUNTRY, day to day, AT A WAY BIGGER EXCHANGE RATE- thus increaseing personal wealth [calling it restored wealth] from the top to the bottom!

This is a very new and unreported possibiliy ---- I really like this senario--- I would love to see this happen ---we are immaterial as spectulators--Shabbs could be a master mind---the only caveat I have is ---WHO does Shabbs truly support ---himself or who?

Very good question about Shabbs my friend! Dr. Jekyll or Mr. Hyde! Hopefully we shall find out soon and it's in our favor!

I have never listened to anyone who even once said that it would RV at over $3.00...I thought Rumors was a Album by Fleetwood Mac in the 1970's...and YES, you are a myth-buster, is that you on the TV show???

I love FM and Stevie Nicks and I'm the one on the show with no hair!

Edited December 29, 2011 by DiveDeepSix

[Mak63]

This also would point to the other myth that USD is now no longer used in Iraq is also: BUSTED. Why would they pump money into the country if they couldn't use it? I could be missing something here or way off but it makes sense to me. Any thoughts?

How about to buy USD back at less than 1:1 and completely de-dollarize the country........CBI makes money on the spread......... just sayin'

Mak63

[CrappieShark]

this is a long term investment. Still. Dont hate me for this but Iraqs money has to be backed by the WTO and they have to be a part of the World Bank before any countries treasury will honor their money if they did RV. If they RVed without the backing of the WTO and being a part of the World Bank they would have to have enough foreign currency to pay off all of those who hold the dinar. They dont have it. The World Bank has said 2013 before that can happen. Before it CAN happen. The IMF said they had Iraqs back if oil production slowed or if it brought in less of a profit than what Iraq budgeted. Iraq is still not out of the woods as they just cannot seem to come to grips with having to answer to anybody. That is their real problem. They have to answer to people and corporations and organizations and other countries if they are to be a country that trades with the world and has a stock exchange. This is the area they are having the greatest conflict in. Answering to others for fiscal responsiblilities. They see the need for it but then they dont feel as though they should answer to anyone. You want to know what the conflict is this is it. They dont want to have to be audited or give an account. Iraq had no weapons of mass destruction but they would not allow UN inspections for this very reason and they went to war and lost and then it happened again and they went to war and lost. This is a big huge hang up for them.. I personally dont get it but I think it is a pride thing. Once they have a system that can be audited they will be accepted. As yet that has not happened.

[HopefulTxn]

Crappieshark, you should probably research what the WTO means in the world economic model before stating that they have to back anything.

If a country, which is a member of the IMF, is going to perform any action to such extent then that is who they have to prove they can support the value to. The WTO has nothing whatsoever to do with the valuation of any national currency. If you don't believe me, simply look it up and you will find that to be the truth.

[CrappieShark]

7. The real level of capital of Rafidain Bank and Rasheed Bank, both state-owned, cannot at this time be reliably established, as a result of the structure of their balance sheets, which contain many legacy assets, revaluation differences of unknown magnitude, and un-reconciled asset and liability accounts from the past. Iraqi counterparts did not expect this normalization of the balance sheets to be completed before end 2011, with recapitalization by end 2013, notwithstanding earlier commitments that this process would be completed already several years ago. Moreover, there still are a number of substantial differences between Iraqi accounting standards and IFRS which need to be corrected when assessing the financial condition of the state owned banks. .

World Bank annex. Recapitalization 2013. I agree about the WTO not having anything to do with revalue but the World Bank and IMF are on the same page concerning Iraq on this long dissertation of the World Bank with IMF input concerning Iraqs financial condition. I hope it RVs or RIs but I have a hard time believing it will until 2013 at the earliest. Long term investment for me.