Thread: 25:1 By 15 January

Originally Posted by worf

Good to see you posting on Jan 1st. Happy New Year to you and all of our Rolclub family. Now for my question(s).

It would appear that the cbi is either unaware of their current situation, uncaring, or controlled by an outside influence (ie IMF, World Bank etc.) If the latter is true, then what based on your above post is the right move based on the big boys vs the cbi? It appeared by your comments, that you felt 25/1 or 4/1 was too low. You mentioned the cbi has a "serious dilema" in that the big boys want to know if the currency is going to move. Hopefully you aren't referring to the (pitiful imo) 150 point move the dinar has made recently. When the public officals made the statement that there was going to be a "significant move in the dinar by the end of 2006", I don't know about you but 1/10 of 1 us cent isn't very significant in my book and doesn't seem to fit with the statement imo.

We read in recent articles about them wanting a stable currency and about worrying about "a run on the local currency". In your opinon if they stay with their public statements and adjust the dinar to the 1260 dinar = 1 usd for the first 3 months of 2007, what would that do their economy? For heaven's sake that is only appreciating the dinar to only .00793 usd not even 1 us cent. How does that fit with all of their stated goals and objectives for 2007 and allow them to reach their lofty stated goals and objectives?

It would appear to me, that a sudden bold adjustment is the best way for them to proceed forward if they really do want to address their countries needs. What could be the possible hold up now in your opinon?

Thanks,

worf

Thank you Worf. I always enjoyed your posts and comments. I think the CBI is in a delimma. But lets think a minute. This situation is very new for them. Just in the last two weeks has the dinar moved over 6 %. Up till now not a lot of pressure from the demand side of the house. They are not stupid but they are inexperienced. With the "street" putting pressure on them and expected to continue I don't think they have any other option but to take the dinar up. The only other option would be to restart selling into the economy increasing inflation and undoing what they apparently have been working on over the last year. I have always thought that they intended to raise the value of the dinar, a plan from the beginning. But they set the price too low and didn't anticipate how long it would take to settle the debt. So to take it up, and soon would be the only reasonable answer, but one with a few problems of its own. Too slow and all they do is fuel the street even more, increase speculation etc. too high and it could be disruptive (maybe). So they are in a relatively new "box" and I think the outcome will be good for us. Also, I don't think they have as much time as before so something has to move quickly, has to give. So, I am optimistic to see someting very soon. This next week of auctions after the break will tell us the story of what to expect. I hope this has been helpful. Thank You.

This post is from another site this morning:



Here is some info about Exchange

--------------------------------------------------------------------------------

Okay I have family in Ireland and the came to America for a couple of weeks and the other day I went to meet them the other day.

He is the facts about foreign currency from them as my cousin was head of the foreign exchange in Ireland.

1. Most big investors will not risk large amounts of their money as it is very risky never know what a country is going to do.

2. The way they bring down unemployment is to set up college for free to further there education and to then to make them students as then the don’t count as being unemployed.

3. The country revals when they want, they have a date and an amount that is only known by them. If it comes out you will be put in jail for the rest of your life for the leak.

4. A country will buy back there money as they start getting close to the date of there reval to make the exchange without any body knowing what they are doing it is a set number and only they know. It will not come out as a leak it will just happen I know I wouldn’t want to go to jail there.

The way they will do this is start issuing dollars in exchange a little at a time bring back and holding there dinar.
If they don’t do this it will not happen as they have to decrease the amount that is out there.

5. Security plays no roll in reval as this I don’t know where people got that from but it is not true.

6. They will not do a reprint as its not a real good thing as this would make foreign investors stay away any make there money worse a lot worse nobody would want it.

7. People I will tell you this lets say you take your money to the bank when the reval happens that money is held for a time and this country pays for it not Iraq until the is taken back to that country and presented to the CBI. We the US give Iraq lets say a credit look at China and smaller country like Iran they are dumping the US dollar which in turn drops our dollar.

All about credit between countries in the banking system they hold the foreign currency till they want to sell it to get there money out of that country.

8. I asked what he thought it would come out as and he said that rate is set by the CBI not anybody else not the president or the IMF.

I figured I would put this out there and let everybody know chances are
the only way you find out is on the CBI site when you wakeup in the morning if anybody here sleeps

Seems to me that if the date and rate of a dinar revalue was actually known, that the remaining supply would be immediately bought up.

Originally Posted by Mike5200

This post is from another site this morning:



Here is some info about Exchange

--------------------------------------------------------------------------------

Okay I have family in Ireland and the came to America for a couple of weeks and the other day I went to meet them the other day. He is the facts about foreign currency from them as my cousin was head of the foreign exchange in Ireland. 1. Most big investors will not risk large amounts of their money as it is very risky never know what a country is going to do. 2. The way they bring down unemployment is to set up college for free to further there education and to then to make them students as then the don’t count as being unemployed. 3. The country revals when they want, they have a date and an amount that is only known by them. If it comes out you will be put in jail for the rest of your life for the leak. 4. A country will buy back there money as they start getting close to the date of there reval to make the exchange without any body knowing what they are doing it is a set number and only they know. It will not come out as a leak it will just happen I know I wouldn’t want to go to jail there. The way they will do this is start issuing dollars in exchange a little at a time bring back and holding there dinar. If they don’t do this it will not happen as they have to decrease the amount that is out there. 5. Security plays no roll in reval as this I don’t know where people got that from but it is not true. 6. They will not do a reprint as its not a real good thing as this would make foreign investors stay away any make there money worse a lot worse nobody would want it. 7. People I will tell you this lets say you take your money to the bank when the reval happens that money is held for a time and this country pays for it not Iraq until the is taken back to that country and presented to the CBI. We the US give Iraq lets say a credit look at China and smaller country like Iran they are dumping the US dollar which in turn drops our dollar. All about credit between countries in the banking system they hold the foreign currency till they want to sell it to get there money out of that country. 8. I asked what he thought it would come out as and he said that rate is set by the CBI not anybody else not the president or the IMF. I figured I would put this out there and let everybody know chances are the only way you find out is on the CBI site when you wakeup in the morning if anybody here sleeps

What this tell me is similar to how the CBI is structured. They are independent of the political pricess and will revalue the currency suddenly with little or no concern as to what the politicians say. Just like in the US. As we have said, most people in the US really don't understand how independent the Fed. Reserve System is from the US gov. So, what you posted is not surprising. Good Post. the CBI is really running its own program, but they will value the currency upward, they really don't have much of a choice based on whats happened the last couple of weeks. It is very very unusal for the street price to be more expensive than the official exchange rate, usually, in countries, you can get more currency for your USD than less on the street, which seems to be the case in iraq today. Thank You.

Originally Posted by livefree

Seems to me that if the date and rate of a dinar revalue was actually known, that the remaining supply would be immediately bought up.

And the reason it is happening now is because of Speculation. People want to be rich. And people also know that this is a Once in a Life time oppritunity. So this is the reason of the drying up we see of dealers and ebay. The Banks, well they will never dry-up. They will just go with the flow of the exchange rate. No matter what it is, they make on both ends.

Hi,

I was under the impression that there were going to be no more auctions at all, that is for ever- any comments to the contrary.

Originally Posted by abbey56

Hi,

I was under the impression that there were going to be no more auctions at all, that is for ever- any comments to the contrary.

my understanding is the cbi is holding the rate at 1325 until the 7th. auctions are still happening from what i can see.

Originally Posted by neno

And the reason it is happening now is because of Speculation. People want to be rich. And people also know that this is a Once in a Life time oppritunity. So this is the reason of the drying up we see of dealers and ebay. The Banks, well they will never dry-up. They will just go with the flow of the exchange rate. No matter what it is, they make on both ends.

i would be interested to know how much of the purchasing is from 1st timers vs those who have already purchased and are shoreing up their holdings. i just ordered 26 mil for friends who were shoreing up their holdings. only 1 was a newbie. my gut tells me its us who are doing most of the buying-not 1st timers. no stats only what i see and discuss w/dealers.

Originally Posted by lglwzrd

my understanding is the cbi is holding the rate at 1325 until the 7th. auctions are still happening from what i can see.

From what I understand, there is no auction until Sunday the 7th. They will resume, and we will see what happens from there on....


Rocky...

Originally Posted by shotgunsusie

and keep in mind that most of these people who pass on information are with the U.S. GOVERNMENT or connected to it. since the us govt. isnt the ones who are setting the price i dont understand how they keep thinking they know. it should be posted as 'we want' not 'this is what is going to be'. weve seen time and time again when the usa thought they had iraq under control and a wrench was thrown in.

Thanks Susie, I was wondering the same thing. There have been several who have passed on so called inside info from U.S. government sources. Kinda seemed odd to me from the gitgo, kinda like the one that said our government had something to do with the design of their currency...yeah, right!