[Soonerfan62] NOTICE: Debtarheelgirl just received a call from Senior Negotiating Team for Wells Fargo--THERE IS NO OFFICIAL RV YET....DO NOT CALL BANKS please remain calm, coming soon, WF CODE and RATE when it RVs. This team has asked us to post this:
[Soonerfan62] Sorry guys phone is blowing up!!!!!!!!!!!!!!!!!!!!
[be2happy] Soonerfan62 - what "paid" forex site was this on? Then I can become a member and see for myself
[Soonerfan62] be2happy Dealers only
[anothername] Soonerfan62 the world can not handle a $42. rate-- a loaf of bread would be $600.00
[Soonerfan62] anothername Why would it?????????????????
[Soonerfan62] Guys I'll say this, can Iraq handle a $42 rate, easily
[draavmorris2] soonerfan62, oh yes iraq can. I believe it
Soonerfan62] draavmorris2 And what people aren;t understanding is this rate is for a few days, then drops under $5
dinarmaven] Soonerfan62 are you saying that this rate is potentially real?
Soonerfan62] dinarmaven Saying could be for a couple of days for the benefit of the other countrys
[wclogr] Soonerfan62, would that be the 6 days mentioned earlier
[Soonerfan62] wclogr A $42 rate cannot hold 6 days, no
[ [dinarmaven] Soonerfan62 is this an opinion or are there any confirmations
[Soonerfan62] dinarmaven 19 intel providers. There are about 15-19 of us that talk daily and most are on the same page with most of the intel, MOST
[jetpack] Soonerfan62 r u agreeing with this high rate stuff of $42 and this is over??
[Soonerfan62] jetpack No comment and yes
[Soonerfan62] prissynell WF will open 2 hours after live rate
Soonerfan62] draavmorris2 And what people aren;t understanding is this rate is for a few days, then drops under $5
dinarmaven] Soonerfan62 are you saying that this rate is potentially real?
Soonerfan62] dinarmaven Saying could be for a couple of days for the benefit of the other countrys
[wclogr] Soonerfan62, would that be the 6 days mentioned earlier
[Soonerfan62] wclogr A $42 rate cannot hold 6 days, no
[ [dinarmaven] Soonerfan62 is this an opinion or are there any confirmations
[Soonerfan62] dinarmaven 19 intel providers. There are about 15-19 of us that talk daily and most are on the same page with most of the intel, MOST
[jetpack] Soonerfan62 r u agreeing with this high rate stuff of $42 and this is over??
[Soonerfan62] jetpack No comment and yes
[Soonerfan62] prissynell WF will open 2 hours after live rate
http://www.dinarrecaps.com/1/post/2012/04/soonerfan-from-intel4u-mon-evening.html
The Douchie isn't so much for the assinine rate as it is for the follow up comment that Iraq can easily handle a $42 value. With 30 trillion dinar in circulation that would create a money supply worth $1.26 quadrillion USD in a country with a GDP of a $120 billion where they can't even keep the power on.
The Douchie isn't so much for the assinine rate as it is for the follow up comment that Iraq can easily handle a $42 value. With 30 trillion dinar in circulation that would create a money supply worth $1.26 quadrillion USD in a country with a GDP of a $120 billion where they can't even keep the power on.
It's becoming clearer every day that these discussions aren't real. I mean, there are a lot of stupid people in the dinar world, but seriously now .... $42? The only logical explanation for this "chat session" is that this was made up to make other dinar gurus look reasonable by comparison. As I mentioned a few days ago I'm told that years ago dinarians were only discussing an RV of up to 30 cents. When people started speculating about an RV of $1 they were laughed at. Nowadays if you say $1 some people are ready to brand you a Negative Nellie, insisting that Iraq must RV at $3 or more. So we've witnessed an upward "speculation creep" that makes $3 now look reasonable to some.
$3 is not reasonable. $2 isn't either. Nor is $1. Not with 30 trillion dinar in circulation. So if you're tempted to run to your nearest "reasonable" guru who says RV at 86 cents please leave the absurd rates out of the equation. Look at the GDP and the money supply. Iraq can not support more than a few cents at this point, and frankly that's a long shot.
The review of the Okie Oilman website this week brought up the very real possibility of scammers running several websites creating multiple personalities for the purpose of pumping dinar sales and generating traffic to dinar forums to increase ad revenues. Whether Soonerfan62 is a real guy or an alias is irrelevant. Whoever posted as this ass hat wins this week's Douchie.
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If Debtarheelgirl is involved, then this must have came from that ridiculous group who follow Frank. It's ok though, God is protecting everyone over there and He will make them all rich. Just make sure you put Frank's name in the promo code so He can make him extra rich.
ReplyDeleteOkie is running a full page ad from "Buy A Little Dinar" on his chat website. http://www.okieoilman.us/
ReplyDeleteConsider this.
ReplyDeleteA RV to 1 cent would be a 1,000% return.
it's not just the 30 trillion they have in circulation...they have to cover the entire M2 of about 70 trillion!!!
ReplyDeleteIraq's latest reported currnecy numbers.
ReplyDeleteCurrency outside of Banks... 29 Trillion.
Dinar in bank vaults... 4 Trillion.
That's 33 Trillion dinar issued / in circulation.
(All while idiots like Brietling keep claimng they are pulling all the 3 zero notes.)
M2 is 70.4 Trillion.
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DeleteKevin’s point is ridiculously elementary. It’s like people saying Kuwait is $3.50 therefore Iraq must be $3.50. You have to take into account money supply, exchange rate and GDP to get any real comparison. I copied these four post I made years ago on a dinar board. The numbers are all old, from 2007 time frame. Sorry, but I’m not about to take the time to update them. The numbers would obviously be higher, but the ratios would be almost identical. They paint a VERY CLEAR picture. The lowest valued currencies in the world all have MASSIVE money supplies. The highest valued currencies in the world all had very low money supplies… With the exception of economic supper powers like the United States and the United Kingdom. When comparing Iraq and many other countries money supply to GDPs, Iraq was perfectly in line with where they should be.
DeleteIf Iraq wants to move from the lowest valued list to the highest valued list it is clear as can be that they have to reduce their money supply by a factor of 1000. They have to go from 30 Trillion currency in circ and 70 Trillion M2 back to 30 Billion in circ and 70 Billion M2…. Which is exactly what they have said they will do with the delete 3 zero plan… which is a lop and not some fantasy RV made up and pushed only on dinar forums.
Enjoy... 4 old post follow.
Lowest Valued Currencies
Country, Rate, Money Supply(m2), $Value, GDP
Korea, 931, 1,800 Trillion, $1.93T, $1.18 Trillion
Mongolia, 1163, 1.2 Trillion, $1.0B, $5.78 Billion
Tanzania, 1247, 2.8 Trillion, $2.25B, $29.2 Billion
Iraq, 1238, 20 Trillion, $16.2B, $88 Billion
Lebanon, 1512, 80 Trillion, $52.9B, $21.4 Billion
Uganda, 1692, 3 Trillion, $1.8B $52, Billion
Colombia, 1935, 104 Trillion, $53.7B, $336 Billion
Belarus, 2144, 16.5 Trillion, $7.7B, $80.7 Billion
Venezuela, 2147, 66.5 Trillion, (05) $31B, $176 Billion
Sierra Leone, 2935, 687 Billion, $.23B, $5.3 Billion
Indonesia, 8839, 1,200 Trillion, $136B, $935 Billion
Iran, 9252, 950 Trillion, $102B, $610 Billion
Vietnam, 16075, 810 Trillion, $50.4B, $258 Billion
continued with old post...
DeleteHighest Value Currencies
Country, Rate, Money Supply (m2), $Value, GDP
Kuwait, $3.46, 16 Billion, $55.4B, $52 Billion
Malta, $3.15, 3.2 Billion, $10.1B, $8.1 Billion
Bahrain, $2.66, 4.3 Billion, $11.4B, $17.7 Billion
Oman, $2.60, 4.4 Billion, $11.4B, $43.8 Billion
Cyprus, $2.33, 11.8 Billion, $27.5B, $17.8 Billion
U.K., $1.98, 1.4 Trillion, $729B, $2 Trillion
Latvia, $1.92, 5.6 Billion, $10.7B, $35.1 Billion
Jordan, $1.41, 13.9 Billion, $19.6B, $28.9 Billion
Cayman, Island, $1.23 5.1 billion, $6.3B, $1.9 Billion
United States, $1 $7.2 Trillion, $7.2T, $13 Trillion
Now compare the $value of the money supply to the countries GDP. Notice that…
Korea (1.6 times)
Lebanon (2.5 times)
Kuwait (just barely more than)
Malta (1.2 times)
Cyprus (1.5 times)
Cayman Island (3.3 times)
Are the only countries on the list that have more money supply than they have GDP
2 are from the low list and 4 are from the high list. Most of the countries have a a money supply much much less than their GDP.
If Iraq was to raise their exchange rate so that their money supply equaled their GDP, which would put them higher than all but 6 of the countries on these lists. The dinar would be valued at .0044 or 227 dinar per dollar.
If Iraq was to revalue at 1:1 like some claim will happen, they would suddenly have a money supply 227 times higher than their GDP. That would put them SLIGTLY out of line with the rest of the world. Slightly obviously isn’t the word to best describe how out of line they would be.
Money supply to GDP ratio.
When I was invested in this I compared numerous countries in many different ways. One of them was money supply to GDP ratio.
These numbers are about a year old, o they may have changed a bit, but they haven't changed enough to really make a difference in the point they make.
(high value currencies)
Kuwait has a money supply that is 106% of it's GDP
Malta is 125%
Bahrain 64%
Oman 154%
UK 36%
Latvia 30%
Jordan 68%
USA 55%
(low valued currencies)
Korea 163%
Mongolia 17%
Tanzania 8%
Columbia 16%
Belarus 10%
Venezuela 41%
Indonesia 15%
Iran 17%
Vietnam 20%
Saudi Arabia is 41%
Iraq is currently about 20%... which is pretty much right in line with all these other countries.
If they were to revalue to 1:1 their money supply to GDP ratio would be 21600%. That would put them slightly out of line with the rest of the world.
Even 30 cents per dinar would leave them with a ratio of about 8700%... still a bit out of whack.
If they went to 200%, which is still higher than any other country on the list. The rate would still be less than a penny... about .7 cents per dinar or .007
A 100% ratio would be about .3 cents per dinar or .003
Kaperoni says it too. And Randy Koonce. And Frank. And WangDang. And just about everybody else who thinks a big RV is coming. How can you maintain a loyal following of RV believers if you tell them the money supply is growing unless you just tell them the money supply doesn't matter? (which some of them do) You can't pull in the larger denoms and increase the money supply at the same time without flooding the market with lower denoms and making cash transactions even more difficult. Besides, I talk with people in Iraq. The larger denoms are still being used in abundance.
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ReplyDeleteand if they redenominated they would be right about where they should be...plus they would be on par with the dollar...it is about as clear as it can be.
ReplyDeleteHere’s something I find quit entertaining lately. There have been dozens of articles out of Iraq lately where officials and such are complaining about the amount of dollars being smuggled out of Iraq.
ReplyDeleteIs that not funny as all get out.
People have been smuggling trillions upon trillions of Iraqi dinar out of Iraq for years selling it on the internet in a massive scam. I haven’t seen to many Iraqi officials complaining about that.
Just so some understand why that is.
ReplyDeleteIf Iraq has allowed 5, 6, 7 trillion dinar to leave Iraq and be held by speculators around the world. That’s 5, 6, or 7 Billion dollars that have filled their FX reserves for FREE. That’s a pretty substantial amount. That’s roughly 10% of their entire reserves. It’s no wonder they canceled the redenomination. They probably don’t want to have to give this money back and are probably planning more on how to trap the money outside of the country once they do redenominated.
Which is why Marcus Curtis is now calling this a scam.
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ReplyDeleteJust a few things.
ReplyDelete“If you look at per-capita income vs GDP, they are way too low”
Iraqs 100 billion dollar GDP is 80 to 90 percent oil sales which are done in dollars and goes directly to the Gov. That only leaves about 10 to 20 billion a year as Iraq’s dinar GDP. That’s pathetically low. Iraq practically has no economy other than oil. They are an oil rich country with dirt poor people. They can not just RV their currency to make everyones income higher. Every country in the world would do that if possible.
“M2 may be deceptive, as much may be held by countries like the US and GB with the intent of buying oil with it over an extended period. The dollarization of Iraq itself has likely taken a lot of it out of circulation as well. I suspect that much of the supposed M2 supply is sitting in various central banks.”
This is all bogus made up crap. There is zero proof that any country has one single dinar. It is also a distortion to tell people that Iraq has taken a lot out circulation. Will it is true that Iraq has removed dinar through the auctions, they have put an even higher amount into circulation through government spending, salaries and such. The CBI of Iraq keeps a tally of all dinar put out and all dinar bought back and that’s the number they report. That number has grown almost every month for the last 7 years.
“Even from Iraq there have been conflicting articles”
That also is a lie. All of the articles have meant the exact same thing. A redenomination. There have been multiple articles that have been misinterpreted by lying dinar dealers and/or idiot gurus. There has never been an article that talked about a big RV… to believe a country would openly talk about a 100,000% RV is simply ignorance at it’s peak.
“People have not been smuggling trillions of Dinar out of Iraq”
Iraq has laws in place that limit the amount of dinar that can leave the country. The few times they have referred to the dinar outside of the country they have referred to it as smuggled.
The dollars being removed are not being removed from the Iraqi economy. They are being removed from the FX reserves of the Central Bank.
“I believe the IQD should realistically be in the 3 to 4 dollar range”
Stunning. Iraq has 30 Trillion dinar in circulation. $3 would give Iraq $90 Trillion dollars worth of dinar in circulation. The entire world right now, add all countries together, have about $6 Trillion dollars worth of currency in circ. So Kevin’s low end estimate would have Iraq with 15 times more currency than the rest of the world combined… while they have less than 1% of the worlds GDP. I agree very strongly with Kevin. He’s no economist.
“Last but not least, this is not a scam,”
If I sell you something worth $850… and I charge you $1200 (or $3500 if you are stupid enough to fall for the small denomination lies) and I do this by making up lies to make you think you will be a millionaire, when in reality there is absolutely ZERO chance of that happening and almost certainly you will lose about 50% of your money. Call it what you want. I call it a scam.
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DeleteWell I guess you can never convince these guys from seeing reality. Here's the response:
Delete“If you look at per-capita income vs GDP, they are way too low”
Iraqs 100 billion dollar GDP is 80 to 90 percent oil sales which are done in dollars and goes directly to the Gov. That only leaves about 10 to 20 billion a year as Iraq’s dinar GDP. That’s pathetically low. Iraq practically has no economy other than oil. They are an oil rich country with dirt poor people. They can not just RV their currency to make everyones income higher. Every country in the world would do that if possible.
My point is their per-capita income is too low ... perhaps artificially so. Look at the comparable countries, even Iran and Jordan have per capita incomes significantly higher than Iraq. We all know about Iran, and Jordan has practically no natural resources and even less industry. The closest comparisons would be Kuwait or perhaps Saudi Arabia, and they are ridiculously higher.
“M2 may be deceptive, as much may be held by countries like the US and GB with the intent of buying oil with it over an extended period. The dollarization of Iraq itself has likely taken a lot of it out of circulation as well. I suspect that much of the supposed M2 supply is sitting in various central banks.”
This is all bogus made up crap. There is zero proof that any country has one single dinar. It is also a distortion to tell people that Iraq has taken a lot out circulation. Will it is true that Iraq has removed dinar through the auctions, they have put an even higher amount into circulation through government spending, salaries and such. The CBI of Iraq keeps a tally of all dinar put out and all dinar bought back and that’s the number they report. That number has grown almost every month for the last 7 years.
You can believe or not, your choice. I am not going to take the time to go and look for the info, but it is out there. In addition many of the articles, as well as anecdotal information indicates that the CBI has pretty much swept the large denomination bills off the streets in favor of the USD.
“Even from Iraq there have been conflicting articles”
DeleteThat also is a lie. All of the articles have meant the exact same thing. A redenomination. There have been multiple articles that have been misinterpreted by lying dinar dealers and/or idiot gurus. There has never been an article that talked about a big RV… to believe a country would openly talk about a 100,000% RV is simply ignorance at it’s peak.
There have been a number of articles that have come out that have spoken of increasing the value of the Dinar significantly against the USD. Read the original plan from the CBI it plainly states a target value of something like 2.71 USD/Dinar. Additionally, there are some articles that speak of the removal of the zeros as fait acompli. Obviously there has been no LOP, so they must have been speaking of something else.
“People have not been smuggling trillions of Dinar out of Iraq”
Iraq has laws in place that limit the amount of dinar that can leave the country. The few times they have referred to the dinar outside of the country they have referred to it as smuggled.
The dollars being removed are not being removed from the Iraqi economy. They are being removed from the FX reserves of the Central Bank.
I repeat, they have not been smuggled out. Some have no doubt been, but most have been purchased and exported legally by licensed dealers. Keep in mind that all of the articles we see have been translated by computer and they are at best, ambiguous. Some, I suspect, have also been deliberately misleading. No I can't prove it, any more than you can prove otherwise. We know what they choose for us to know, when they choose to let us know ... there is much we just don't know ...
“I believe the IQD should realistically be in the 3 to 4 dollar range”
Stunning. Iraq has 30 Trillion dinar in circulation. $3 would give Iraq $90 Trillion dollars worth of dinar in circulation. The entire world right now, add all countries together, have about $6 Trillion dollars worth of currency in circ. So Kevin’s low end estimate would have Iraq with 15 times more currency than the rest of the world combined… while they have less than 1% of the worlds GDP. I agree very strongly with Kevin. He’s no economist.
If you must quote me, at least include the whole quote. I also stated that it would certainly not be higher, but could quite possibly be lower.
“Last but not least, this is not a scam,”
If I sell you something worth $850… and I charge you $1200 (or $3500 if you are stupid enough to fall for the small denomination lies) and I do this by making up lies to make you think you will be a millionaire, when in reality there is absolutely ZERO chance of that happening and almost certainly you will lose about 50% of your money. Call it what you want. I call it a scam.
If you buy a car and drive it off the lot it immediately loses a couple of thousand in value. Does that make it a scam? A dealer expects and should be allowed to make a reasonable profit on any transaction. If you bought currency from a dealer, and you chose to sell it back, you agreed to a price when it was sold that allowed the dealer a profit. You also agreed to a price when you sold it back, again with some dealer making a profit. That does not constitute a scam, it's called doing business. The dealer has expenses he must meet, and possibly salaries he must pay. That necessitates a profit on every transaction. At the same time, he has to set his rates to be competitive with other dealers. It's called capitalism, welcome to life.
Even if it LOPS and then changes value, I expect to show a profit, perhaps not as much as I would like, but still, I will make a profit. Sooner or later I will sell this, could I lose money? Sure, it's called speculation for a reason. But I do expect to make, not lose money.
What if Iraq never intends to allow out of country investors to exchange the old dinars for new dinars?
Delete