Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Wednesday PM Chat 5-25-16 Part 3 of 3
alexmorillo says():I'm not endorcing the article or the author, some of the claims in the article I don't agree with, like where he says that IRAQ is not reducing the money supply, BGG and others have provided proof that has been happening the past year, but I did think it raised a good point about really questioning why IRAQ or other govt are legally obligated to exchange our dinar for U.S. dollars:
Bookumdano says():Does anyone know if MD is coming in tonight?
BGG says to Bookumdano():MD is not - for sure.
BGG says to Bookumdano():I was going to try to do a News Time - but my internet is VERY unstable right now.
swan2013 says():WE ALLOW QUESTIONS IN HERE... ALL ALEX DID WAS ASK. WE ANSWER AND MOVE ON. THANKS FOR COMING IN
alexmorillo says():Can I get some feedback on another counter point I hear about in DinarLand: It's about the 30 plus trillion dinar in circulation worldwide, if it's true that the majority of it is held outside of IRAQ's borders and that it is mainly held for speculative purposes, should that concern us?
BGG says to alexmorillo():That's not true and if it were - it would not.
BGG says to alexmorillo():I have had "first hand" conversations regarding that matter...
BGG says to alexmorillo():the CBI cares little for what is outstanding.
mudcat says to alexmorillo():All you need in this life is ignorance and confidence and success is sure-MARK TWAIN
alexmorillo says():I thought I heard on a conference call in the past the analysis that strongly suggested the real amount of dinar in circulation worldwide could be under 5 trillion, did I hear that right,?
swan2013 says to mudcat):NOT EVERYONE UNDERSTANDS, THAT IS WHY THEY ASK.
BGG says to alexmorillo():that's not realistic.
_firefly_ says():"The subject was in the previous administration of the bank and not the time of the current administration."
jtank says():if the 30 tril were not an imposed rate it would be only 30 bil-
swan2013 says():THANK YOU,
alexmorillo says():well what do you think the amount of IRAQI dinar could be outside of IRAQ's borders (ie in circulation, because the criticism I've hard agains't a dinar RV is that their is not enough capacity to pay the trillions and trillions of dinar in circulation outside it's borders)
BGG says to alexmorillo():a more accurate characterization might be more like 6 Tr outside the borders..
BGG says to alexmorillo():which is why they care very little...
boomshakalaka says():MD gone?
swan2013 says to boomshakalaka():SCHOOL AND WORK HAS HER PULLED AWAY.
_firefly_ says():VERY LITTLE !
alexmorillo says):that's an interesting point that trillions of dinar is only billions in U.S. comparison, that makes me feel better:
swan2013 says to BGG():DOES THAT INCLUDE ALL THE BLOWN UP BILLS WITH ISIS OR WAS THAT USD?
_firefly_ says():If at all
jtank says():imposed rate has inflated all the #s
alexmorillo says():I've been in this investment just long enough to understand you have to remember the facts and info coming out of the CBI are heavilly influenced by corruption in the past:
BGG says to swan2013()::D stuff they / the US / the coalition sets on FIRE is... I'm sure is OK with them... :D
poppy123 says():exactly . plus years ago i think back in 2010 i met a marine col. visiting our church he said the scairdest assignment was when he signed for several trillion dinar at the cbi in bagdad and escorted it back to our ust.
I DON'T THINK THE MAN WAS LIEING OR MAKING UP THE STORY.ALSO WHAT ABOUT THE COUNTRIES THAT FORGAVE MUCH OF THEIR WAR RETRIBUTION AND ACCEPTED DINAR IN EXCHANGE FOR SMALL% OF THE DEBT ??
PLUS THE GUY DOESNT MENTION THE LATEST SHUTDOWN OF DINAR CORP OR WHY THERE ARE STILL MANY DEALERS SELLING. I DONT BUY WHAT HE IS SELLING AT ALL. THERE AREALWAYS PEOPLE TRYING TO STEAL OTHERS DREAMS I QUESTION EVERY WORD AND CREDIBILITY POPPY3
swan2013 says to BGG()::D
BGG says to swan2013():the more IQD that gets set on fire is all good with them. :D
alexmorillo says():I know you came into the chat room just now BGG, but if you could scroll back and look over the article that I linked earlier regarding Section 32 and how IRAQ could claim somehow immunity from accepting dinar outside it's borders for exchange, I'de really appreciate it, I don't see a lot of discussion about this anywhere on the Internet for clarification and anaylysis:
swan2013 says to BGG():AMEN TO THAT!!!
swan2013 says to BGG():DO YOU KNOW THE ANSWER TO THIS? --- wvchsr says(): There is an announcement on the CBI site about the withdrawl of a class (500) euros from circulation. Any idea what that is about
rcookie says():YES....THE 500 EURO NOTE IS BEING DISCONTINUED BCAUSE IT IS THE MONEY LAUNDERS CURRENCY NOTE OF CHOICE...THE CBI IS ANNOUNCING BULLETIN TO SUCH....
Hutch says to rcookie():Makes sense
rcookie says():DO NOT PASS GO....DO NOT COLLECT 500 EUROS...
BGG says to rcookie():is that a EU currency they are talking about??
BGG says to rcookie():since it is EU denominated??
BGG says to rcookie():so it has little to do with IQD?
_firefly_ says to BGG():MCP
rcookie says():500-euro bill, beloved by money launderers, is discontinued
Published May 04, 2016 Associated Press
FRANKFURT, Germany – The 500-euro bill is being discontinued after criticism that the banknote had become a handy aid to money laundering.
The European Central Bank's 25-member governing council made the decision at a meeting Wednesday.
Banknotes currently in circulation will remain legal but will no longer be issued after late 2018.
The ECB said it was "taking into account concerns that this banknote could facilitate illicit activities."
The bills — the biggest denomination for the euro — are rarely seen in day-to-day circulation, and some merchants don't take them. Yet they make up around 30 percent of the roughly 1 trillion euros ($1.15 trillion) in circulation and have turned up in money-laundering investigations.
A million euros in 500-euro bills weighs 2.2 kilograms (just under 5 pounds) and fits in a laptop bag.
swan2013 says to rcookie():IS THAT A CONCERN FOR IQD WORLD?
alexmorillo says():Article 32 – Issuance of Currency.
The CBI shall have the exclusive right to issue banknotes and coins INTENDED for CIRCULATION in Iraq.
Banknotes issued under this Article shall be the first charge on the assets of the CBI.The CBI shall make appropriate arrangements for the issue of its banknotes and coins for circulation in Iraq.
Banknotes and coins issued by the CBI and intended for circulation in Iraq are not: promissory Notes, Bills of Exchange, or any other type of commercial document under the applicable commercial law, and the CBI is obligated to honor them only as provided for in this Law.
rcookie says():NO JUST AN ALERT TO CBI BANKING NETWORK OF DISCONTINUED CURRENCY NOTE...
alexmorillo says():does this wording cause anyone pause? BGG: I know you came into the chat room just now BGG, but if you could scroll back and look over the article that I linked earlier regarding Section 32 and how IRAQ could claim somehow immunity from accepting dinar outside it's borders for exchange, I'de really appreciate it, I don't see a lot of discussion about this anywhere on the Internet for clarification and anaylysis:
swan2013 says to rcookie():OK THOUGHT SO
rcookie says to alexmorillo():AND ALEXMORILLO...OF COURSE THERE IS PRECEDENCE FOR THIS ACTION BEING EXERCISED IN HISTORY BY WHOM...........
alexmorillo says():Refrence: https://iraqcurrencywatch.com/tag/us-has-trillions-of-dinar/
alexmorillo says():I don't follow RCookie I want our dinar to be treated and regulated just like the U.S. dollar or regulated enough so the powers that be in IRAQ or even the IMF can't say later that IRAQ's dinar is a special case and we are locked out of exchange:
BGG says to rcookie():So they are getting rid of a bill worth $600 USD/EU note... big deal. Doesn't impact the IQD at all.
BGG says to rcookie():Except...
rcookie says():AND THE PRESUMPTIVE NARRATIVE IS THAT IRAQ ARBITRARILY INCURRED THE COST OF PRINTING TRILLIONS OF SUPERFULOUS DINAR CURRENCY NOTES RECENTLY DEVELOPED WITH THE MOST STATE OF THE ART SECURITY & COUNTERFEITING PROTECTIONS...
AND JUST FOR GIGGLES TO INCUR THAT COST SO WE COULD WALLPAPER OUR BATROOMS WITH........HMMMMM......NOW WHO DOES THAT MAKE SENSE TO?.......
BGG says():it shows their increasing disdain for counterfeiters, thieves and money launderers.
Hutch says to rcookie():AGREED
RCOOKIE: THE IQD IS THE SOVEREIGN CURRENCY NOTE OF THE COUNTRY OF IRAQ....AND WHY WHEN NOT SUBJECT TO AN ARTIFICIALLY SURPRESSED RATE COULD IT NOT BE TREATED AS ANY OTHER INTERNATIONAL CURRENCY....
ANS SINCE YOU ARE PURPORTING THE IQD NOT BEING ACCEPTED FOR EXCHANGE OUTSIDE IRAQ...
YOU BETTER FILL THE WTO AND IRAQS WORKING GROUP OF THAT FACT AS THEY REVIEW AND ASSESS UNILATERAL TRADE EXCHANGE CASE STUDIES..CHALLENGES AND DISPUTE SETTLEMENTS...
alexmorillo says():OK, but what about the wording that says their dinar are not promissory notes, etc.... it almost sounds like they are saying it's not a ''real currency'' at least not technically
swan2013 says to alexmorillo():THERE IS TOO MUCH GOING ON AND WHAT THE IMF IS SAYING AS TO WHAT THEY WILL DO WITH THE IQD, THAT WHAT YOU ARE READING MAY NOT REALLY BE AN ISSUE AT ALL.
swan2013 says to alexmorillo():THIS IS REAL CURRENCY... THEY ARE GOING TO MARKET SOON, AND WE WILL HAVE THE OPTY TO EXCHANGE IT.
alexmorillo says():Well of course that's the assumption we are all making, my fear is that the dinar RV happens but somehow legally IRAQ and the other powers that be figure out a way to weazel out of letting all the dinar we bought outside their borders not qualifed for exchange, that wording in section 32 where it talks about ''intented within IRAQ '' gets to the heart of what I'm worried about:
Hutch says to alexmorillo():It is a non issue from an old opinion piece, and has been answered by RCookie. Please refrain from bringing nonsense such as that in here please.
alexmorillo says():my bringing up Section 32 IRAQI Law is not nonsense, nonsense is ignoring it outright
swan2013 says to alexmorillo():IT WAS DISCUSSED, LET IT GO. THANKS.