tag:blogger.com,1999:blog-5596379580203915255.post5860289768014267075..comments2023-05-16T02:24:23.898-07:00Comments on Dinar Douchebags: Another Douchie for DaveyUnknownnoreply@blogger.comBlogger68125tag:blogger.com,1999:blog-5596379580203915255.post-1208200071725822022014-05-04T08:05:13.005-07:002014-05-04T08:05:13.005-07:00Thanks very much for the response Brian!Thanks very much for the response Brian!Slingshot_Fuelhttps://www.blogger.com/profile/07776080350153131284noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-5678341941915337892014-05-04T00:22:40.923-07:002014-05-04T00:22:40.923-07:00During the last currency changeover (from Saddam/S...During the last currency changeover (from Saddam/Swiss Dinar -> NID's), they gave a 3 month time limit, and exchange was "in country" only. Here's the archived official announcement:-<br /><br /><b>New Iraqi Currency Introduced October 15, 2003</b><br /><br /><i>"Starting on October 15th 2003 a new national currency known as the 'new Iraqi dinar' will begin to replace the existing currency, the 'old dinar', and the currency used in the North of Iraq, the 'swiss dinar'. The new Iraqi dinar will create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives.<br /><br />The currency exchange <b>will last from October 15th 2003 to January 15th 2004</b>. Currency can be exchanged at any time during this three-month period. Locations where money can be exchanged will include banks and other official locations, for example post offices, <b>throughout Iraq</b>. No fees will be charged for exchanging currency.<br /><br />The conversion rates for new Iraqi dinars will be as follows:<br /><br />- one 'old dinar' will be exchanged for one new Iraqi dinar;<br /><br />- one unit of the 'swiss' dinar will be exchanged for 150 new Iraqi dinars.<br /><br />Bank accounts and financial contracts in Swiss dinars will also be converted at the rate of 150 new Iraqi dinars for every one Swiss dinar. Bank accounts and contracts in old Iraqi dinar will not change.<br /><br /><b>What will be the rate that is used to convert old currency into new currency?</b><br /><br />People who hold one old Iraqi dinar will receive one new Iraqi dinar. People who have one 'Swiss' dinar will receive 150 new Iraqi dinars.<br /><br /><b>Why were these rates selected?</b><br /><br />These rates will help to equalize prices throughout all of Iraq -- helping to ensure that the prices of goods will be roughly the same across the whole country. Key Iraqis, including officials at the Iraqi Central Bank as well as leaders of the autonomous regions in northern Iraq, were consulted on this issue and fully supported this decision.<br /><br />Also note this gem at the bottom:-<br /><br /><b>Can dollars also be exchanged for new Iraqi dinars? What will be the conversion rate for dollars?</b><br /><br />Dollars will not be converted directly into new dinars during the official exchange. Following the exchange, dollars will be convertible directly into new dinars at the market exchange rate. New dinars will also be convertible into dollars as well as other currencies at the market exchange rate.<br /><br /><b>Will it be possible to exchange currency outside of Iraq?<br /><br />No. The only official currency exchange locations will be located within Iraq.</b></i><br /><a href="http://www.usembassy.it/file2003_10/alia/a3101405.htm" rel="nofollow">http://www.usembassy.it/file2003_10/alia/a3101405.htm</a>Anonymoushttps://www.blogger.com/profile/02729824382467700841noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-75476233256824322632014-05-03T18:18:34.546-07:002014-05-03T18:18:34.546-07:00Articles have talked about a 1 or 2 year period wh...Articles have talked about a 1 or 2 year period where both currencies would be accepted in the market place with prices posted in both. Some have suggested an even longer period where banks would accept, but not offer, the IQD, maybe up to 10 years. When they actually go to do it, presumably a detailed document will be published. Such is usually done months ahead of time, if not a year or so. But its totally up to Iraq. The redenomination of the original Dinar to the Bremer was only over 4 months and then that was it, the Saddam dinars were demonitized. In the other extreme the biggest RD ever has to be the Euro and that took place over only a few months relative to use in the market, though in some countries you can exchange the original currency forever at the respective central banks (http://en.wikipedia.org/wiki/Euro#History). So it really varies all over the map.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-34466132996954688422014-05-03T15:41:52.038-07:002014-05-03T15:41:52.038-07:00Could some of the more knowledgeable members help ...Could some of the more knowledgeable members help me with some of the following questions regarding Article 36 of the CBI Law:<br /><br />1) Is there any published data that stipulates the time, location, and overall allowable exchange periods for a future exchange of currency (ie: during a redenomination)? It seems pretty normal to keep the wording rather general in nature in order to allow for greater freedom and flexibility once the LOP does occur; however, I am curious to know if the CBI has every made any official statements regarding this particular subsection of the statute.<br /><br />2) When looking at the numerous countries that have redenominated their currencies in the past (http://en.wikipedia.org/wiki/Redenomination), what were the usual terms and stipulations? IE: What were the average allowable time periods for exchange? What is the percentage of countries that allowed/disallowed the exchange to occur outside of their borders? If currency was located outside of the countries' borders, what were the accepted exchange procedures? <br /><br />Thanks ahead of time! ... This is pretty intriguing.Slingshot_Fuelhttps://www.blogger.com/profile/07776080350153131284noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-89525939287540748522014-05-03T15:00:57.835-07:002014-05-03T15:00:57.835-07:00@jrg,,, "So if you buy lunch with IQD that ha...@jrg,,, "So if you buy lunch with IQD that has to be covered but if you put that same amount in your checking account that does not have to be covered? Total nonsense."<br /><br />LOL... That's so true. It is the exact facade these stupid gurus want to implant in the minds of the guru dreamers. Like Iraqi's who have a bank account would not fly to the bank and with draw cash to exchange for USD!!! These idiots continue to fabricate anything that sticks to the wall even if for 10 seconds.Cruzerhttps://www.blogger.com/profile/07135530520029479770noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-85184795851236874942014-05-03T14:51:49.669-07:002014-05-03T14:51:49.669-07:00Slingshot,,, Article 32 is part of "Section 7...Slingshot,,, Article 32 is part of "Section 7 - Currency" which starts on page 23. Sorry, I should've specified better as you're probably looking for a section 7 under article 32. Cruzerhttps://www.blogger.com/profile/07135530520029479770noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-83096001189929652052014-05-03T12:44:58.293-07:002014-05-03T12:44:58.293-07:00Am I missing something here? I read the entire do...Am I missing something here? I read the entire document and cannot seem to find the section you are referencing... Section 7 does not seem to state that the CBI has the authority to "make any currency outside Iraq deemed worthless".<br /><br />Please help me out. Thanks.Slingshot_Fuelhttps://www.blogger.com/profile/07776080350153131284noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-90814398110908253282014-05-03T09:54:36.571-07:002014-05-03T09:54:36.571-07:00...and "pieps are dancing on the streets"......and "pieps are dancing on the streets" ...... Remember a battle cry of dinar cult many years ago? RV is coming ..... 2007- ......... Nix!holahttps://www.blogger.com/profile/11344599377840819313noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-63958592264884543452014-05-03T09:46:08.334-07:002014-05-03T09:46:08.334-07:00thanks for posting that cruzer, I didn't see w...thanks for posting that cruzer, I didn't see weatherfords request till just now!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-25724672703783751822014-05-03T09:26:22.829-07:002014-05-03T09:26:22.829-07:00Looks like it's actually Article 36. Article ...Looks like it's actually Article 36. Article 32 emphasizes that the IQD is a currency for in-country use by Iraqis. Article 36 states that the CBI can set whatever rules it wants for redemption of currency - locations for redemption, time allowed (after which the value would go "poof"), and so forth.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-12373248857323096642014-05-03T08:48:03.272-07:002014-05-03T08:48:03.272-07:00Cruzer: indeed the interesting times will come whe...Cruzer: indeed the interesting times will come when Iraq finally RDs and people get upset. There might be enough posed off IQD holders for some law firm to go for a class action and combine all the defendants into one trial. That could be a big payday for the lawyers so they might do the whole thing on a contingency basis so no up front funds would even be needed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-56465843524438599262014-05-03T08:45:10.679-07:002014-05-03T08:45:10.679-07:00Ha! Stryker and Tlar, what a couple of knucklehea...Ha! Stryker and Tlar, what a couple of knuckleheads. I do have to give him credit for being honest about one thing. Stryker's intro says his motto is "The facts start here". Of course they start there, he makes them up!<br />The UST has at least 5T of IQD, lie. <br />Bush said the Iraq war would pay for itself: lie.<br />No one knows what "delete the zeros means", lie. He even quotes Shabibi calling it a "redenomination", yet still claims no one knows.<br />Total amount of IQD ever issued "total out" is 35T, lie (that's only physical currency).<br />The CBI only has to cover "circulating currency" which he claims is only 2.7T, lie. I don't even know what "circulating currency" is. So if you buy lunch with IQD that has to be covered but if you put that same amount in your checking account that does not have to be covered? Total nonsense.<br />For the last 18 months the CBI has been buying back IQD through the auctions (well true in a sense, but they release it back just as fast via exchanges for oil revenue. How can he possibly think that 1+T IQD per week could be sustained for the past 5+ years if there is only 2.7T in Iraq? oh wait, "think" was really the wrong word to associate with Tlar and Strkyer! <br />They can't even be bothered to do a tiny bit of arithmetic. Tlar claims the CBI has 80 tons of gold, and that an article said their gold reserves are worth as much as their cash reserves so that must mean the gold is worth 80B USD. A metric tone (what gold is measured in) is about 35,000 oz so at $1,300 USD per oz that is about 45M USD per tone, not 1B per tone. Who Stryker really needs to get on his show is a random 3rd grader to help them with a little arithmetic!<br /><br />The fact that Tlar appears to be chewing tobacco doesn't exactly enhance his image either! :-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-50198260381757677242014-05-03T00:34:35.533-07:002014-05-03T00:34:35.533-07:00"... in investing in foreign currency." ..."... in investing in foreign currency." yet "...NOT....or investment adviser. " Basically they are telling you that you ARE investing in the currency and that could be debated I'm sure in a court YET they are not providing investment advice. That's a tricky one and just for shits and giggles I bet that if offered a large chunk of dough some lawyer may want to challenge that. Heh, heh, heh... Cruzerhttps://www.blogger.com/profile/07135530520029479770noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-91916870113731276002014-05-02T22:39:51.114-07:002014-05-02T22:39:51.114-07:00Hey jrg, your buddy tlar made a guest appearance o...Hey jrg, your buddy <a href="http://content.streamhoster.com/preview/stryker10/livestorage/lv_stryker10/guest_May2014/live_with_Tlar_20140502.mp4?autoPlay=1&width=640&height=360" rel="nofollow">tlar made a guest appearance on Stryker's show</a> tonight. Lots of the same BS you debunked. Sam I Amhttps://www.blogger.com/profile/11609519627791409673noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-64359027487280916602014-05-02T22:20:42.606-07:002014-05-02T22:20:42.606-07:00SCG (like every IQD pumper site) includes a discla...SCG (like every IQD pumper site) includes a disclaimer, here is SCG's<br /><br />"DISCLAIMER<br />Sterling Currency Group / DinarBanker is not an accredited financial consultant. Efforts have been made to insure the accuracy of this information, but Sterling Currency Group / DinarBanker can not be held responsible for any losses as a result of its use. By making a purchase you agree that you have researched the currency and understand the risks involved in investing in foreign currency. You agree that you understand that the value of the currency may go down or up depending on circumstances beyond our control. <br /><br />Sterling Currency Group / DinarBanker is NOT a bank, banker, or trust engaged in lending money, underwriting, selling securities, or acting as a financial planner, loan broker, or investment adviser. "<br /><br />I suspect that lets them sell IQD and pump the RV full well knowing they are telling whoppers, and stay (perhaps barely) on the legal side of the line. They might get in trouble someday around the line "Efforts have been made to insure the accuracy of this information" since obviously that is false, but hard to say. They don't after say how MUCH effort was put into it. Adam pumper-boy Montana puts this at the bottom of every one of his own posts "Disclaimer: The information and content provided above is the opinion of Adam Montana, and is being provided for entertainment purposes only." Which likely will keep him out of jail.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-21146142918322361192014-05-02T21:54:14.114-07:002014-05-02T21:54:14.114-07:00CBI Article 32 page Section 7 (page 23)
http://cb...CBI Article 32 page Section 7 (page 23)<br /><br />http://cbi.iq/documents/CBILAW-EN_f.pdfCruzerhttps://www.blogger.com/profile/07135530520029479770noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-56435666992495153082014-05-02T21:38:50.884-07:002014-05-02T21:38:50.884-07:00I have to post this question out of curiousity and...I have to post this question out of curiousity and that is, if dinar dealers (Money Service Business) are NOT allowed to speculate nor provide investment consult, would alluding to an RV also fall in the same clause? Here is why I bring this up. Dinar Dealers such as Sterling Currency Group (formerly Dinar Banker) and Hoffman at Dinar Inc. constantly would join calls like the IQD Team and The GateKeepers stating how they will have exchange locations setup at airports and would even fly to you locally if you had $5+ million worth of dinar to be exchanged. That "fly out $5+ million" was a red flag because I'm sure that at the popular $3.22 rate pump, those holding 2+ million dinar would require the SCG to do a WHOLE LOT of flying nationwide. And where exactly were they going to setup a secure exchange location?? It isn't like you throw up a standalone ATM at the airport and voila!! Why isn't SCG being pinged for that? I mean if they are simply a money service business why don't they now have a presence in all of the alleged locations at airports they claim they would be at? Not only that they also stated that they started setting up the locations and this was 2yrs ago YET they never disclosed that information. Are we to believe they would only setup a location to exchange ONLY Iraqi dinar when they sell other currencies? Cruzerhttps://www.blogger.com/profile/07135530520029479770noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-26021574127239008902014-05-02T21:18:38.812-07:002014-05-02T21:18:38.812-07:00David, I'm trying to understand your thinking....David, I'm trying to understand your thinking. You're worried that the reprinting of the 000 dinar notes is going to cost them a lot of money but with that same logic you fail ask how is Iraq going to afford an RV of their 87 trillion dinar to $1 / $3 or whatever insane rate is being falsely pumped with only $88 billion dollars in the foreign currency reserve. <br /><br />See this is a prime example of how dinar investors want logic to prevail only when it can justify an RV but not reality. Cruzerhttps://www.blogger.com/profile/07135530520029479770noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-12502269630003025792014-05-02T19:53:52.113-07:002014-05-02T19:53:52.113-07:00Can you post a link to the CBI Article 32 please ?...Can you post a link to the CBI Article 32 please ? Anonymoushttps://www.blogger.com/profile/17559057900975317492noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-63313951119144221092014-05-02T17:35:10.076-07:002014-05-02T17:35:10.076-07:00and of course their is also CBI article 32 which s...and of course their is also CBI article 32 which states that they can make any currency outside Iraq deemed worthless SO, even if they did revalue their currency, no sheeple will be a gazillionaire. of course I tried having that posted in dinar detectives many times, it was never posted and KRAPeroni dismissed the whole thing when I called him out on not posting that particular post even though it is clearly one of the articles of the CBI. he claimed that its just a normal thing on most central banks' rules and regulations but it meant nothing as far as the dinar. just like all the other goo roo info........just more lies and crap!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-82943934978749903212014-05-02T15:28:09.528-07:002014-05-02T15:28:09.528-07:00the problem is these sheeple have no brains of the...the problem is these sheeple have no brains of their own. you throw a prayer out there and they believe anything. of course poopy is constantly calling an RV of something whether it be dinar or dong and claims that no other site is legit except BGG's dinar corp updates and not to ask him questions about anyone else's predictions (lies). I've never seen such idiots in my life. so BGG went from doing shady business deals to a self proclaimed Iraqi expert on economics and Iraqi government. he also claimed on one of his last calls that he has 2 deep sources in Iraq telling him all his info (lies). you'd think some of those sheeple over there would finally get wise and call them out. obviously you get banned for that and the sheeple are so gullible, they would commit suicide if they got banned form his site. LOL......I used to bet morons on dinar detectives that at Christmas 2014 they would still be sitting around typing replies to the out and out lies scott huse AKA DOC DINAR posts on his site. and all the sheeple care about is becoming some overnight gazillionaire without actually thinking how they would get all this money and where will it come from? they think that the CBI is building up their reserves to pay them for all their toilet paper. LOL.....why would they do that then create a huge problem for the finances or Iraq?? the sheeple need to take their blinders and rose colored glasses off and wake the hell up! they have wasted years and years and years of chat rooms, conference calls chock full of bull and dinar recraps! I just cant wait for the sheeple to have a mass uprising against the liars......I live for that day! then of course you have KRAPeroni who has on many occasions let people know he has studied this investment for 8 years or whatever and that he is right because ether IMF told him so.............can you say RETARD? AND then we have something that calls herself millionday over at dinar corp updates who claims she is going to see a reality rate etc.....1166 is reality....get used to it!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-20992264991634505792014-05-02T13:08:49.351-07:002014-05-02T13:08:49.351-07:00david phillips - "Why would the cbi print the...<b>david phillips -</b> <i>"Why would the cbi print the same currency with better security features just to get rid of them. That cost a lot of money."</i><br /><br />Same reason every other country on Earth does - to combat counterfeiting and replace old worn out notes. There is no "RV" and never was so there aren't going to be a second set of banknotes despite guru lies. Welcome to reality. As dwm said - how many countries have $25,000-$800,000 banknotes? None. Why? Because they're totally useless for trade. What store keeps $799,999 in the cash till as change even in 1st-world countries? None. And what on Earth is an Iraqi on an annual $6k salary going to do with a $800k banknote? It would take him 133 years just to match the value of 1 note, assuming he never buys anything, forages for food, and pays zero tax...<br /><br />Do you honestly believe American's on $40k per year will be walking round with $5m banknotes simply because the Federal Reserve told everyone to "pretend" all existing notes are "really" worth 32,000x more, to "pretend" they haven't been printing money, to "pretend" it's still the 1960's on the gold standard? No.<br /><br />Yes David, the mythical "RV" is that completely divorced from reality. The Iraqi Dinar isn't undervalued, it's just plain ordinarily inflated no different to dozens of other countries. <a href="http://upload.wikimedia.org/wikipedia/commons/9/97/500000000000_dinars.jpg" rel="nofollow">Here's a former 500 billion Yugoslav Dinar note.</a> It's not "secretly" worth $500bn. And the 25,000 Iraqi Dinar notes aren't "secretly" worth $25,000 either.<br /><br /><br />Anonymoushttps://www.blogger.com/profile/02729824382467700841noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-52347369655457961692014-05-02T12:38:29.513-07:002014-05-02T12:38:29.513-07:00No one is saying a RD/replacement of the currency ...No one is saying a RD/replacement of the currency is imminent and in fact it appears to be years away if it ever happens at all, in the mean time physical notes need to be periodically replaced just as they do in every other country and re-issuing an updated version of the same notes obviously means no change at all for the time being. A better question would be "why would they reprint the same denominations if they plan to "RV" the Dinar to even one dollar"? How many countries on this planet have literally bales of notes worth $25,000 each? Think about it, in addition to stacks and stacks of 25,000 Dinar notes held by foreign speculators there would be individual Iraqis walking around with the equivalent of $25,000 bills in their pockets! How many countries even have a $25,000 equivalent note in use? If it were to "RV" to $3 then Iraqis would be carrying the equivalent of US $75,000 dollar bills, does any of that sound even remotely logical? Do you not see how absurd it is to argue that Iraq would simply declare those 5,000/10,000/25,000 Dinar notes to be worth $1 to $3 per Dinar each? Why is it so hard to understand that Iraq will simply (if they ever get around to doing anything at all) do what many other countries in the past have done and re-denominate the Dinar by issuing a new currency at a new rate, THAT'S how it works not by simply declaring the old inflated currency to be worth more! <br /><br />Assume for the sake of argument that "RV's" are possible and Iraq were to "RV" to even $1, they would then have to pay out TRILLIONS of dollars when people started cashing in all those hoarded notes! There are not enough dollars on planet Earth to back even half of Iraq's nearly 90 TRILLION Dinar liability nor does Iraq have even a fraction of the dollars that would be needed just to pay the speculators. Even if they could do this, and it's as absurd as it sounds, why would they do such a thing? Their other option is to re-denominate/LOP (a very real and common practice done by countries in Iraq's hyper-inflated state) to achieve an exchange rate on a par or even higher than the dollar and they wouldn't have to pay anyone anything? What would be the most sensible thing to do? Of course the first option is pure economic nonsense and can't happen anyway but it's the very thing that Diniarians have been told all these years and have come to believe, as absurd as it is. The bottom line is "The RV" is not real, has never been real and never will be real and is nothing more than pumper/guru generated nonsense to dupe people into buying this nearly worthless paper, you have chosen to believe in a lie and it's as simple as that. <br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-83397811037271362912014-05-02T12:15:29.677-07:002014-05-02T12:15:29.677-07:00They're going to replace the new bills whether...They're going to replace the new bills whether they lop or not, because all bills eventually wear out. My feeling is that they intended to redenominate prior to 2014, but circumstances and politics have prevented that so far. With the current bills wearing out they had to do something, so they went ahead with this plan to replace the worn out IQD notes. These new notes are of superior quality and apparently can last up to ten years. The currency reform announcements from the CBI indicated that the IQD notes would remain in circulation for two years but would be honored at banking institutions for up to ten years, so they've given themselves ample time to enact the currency reform. While the printing of new bills suggests that the redenomination might be a few years away still, it doesn't mean that it can't happen sooner or that it won't happen at all. No matter what any of these dinar douchebags tell you, the only way that the zeros can be removed is via redenomination.Sam I Amhttps://www.blogger.com/profile/11609519627791409673noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-41561165168010335852014-05-02T11:53:47.863-07:002014-05-02T11:53:47.863-07:00Why would the cbi print the same currency with bet...Why would the cbi print the same currency with better security features just to get rid of them. That cost a lot of money. Anonymoushttps://www.blogger.com/profile/13839323036651783869noreply@blogger.com