Post From Wealthwatch.world Chat Room 8-11-15
Wealthwatch Afternoon Chat 8-11-15 Part 2 of 2
disciple7: so then how did large banks sell it? something doesn't add up..
disciple7: if that's the case all the currency places in the US would be shut down imo
Fit2beFit: ‹@disciple7› exactly
Fit2beFit: BUT THE CURRENCY IS NOT INTERNATIONALLY LIVE, when they did seel it
Fit2beFit: seal it with a kiss...lol...
Fit2beFit: i meant sell it
disciple7: and if u look back all the recent places that got raided weren't in hot water because of the currency it was because of bad business practices..
Fit2beFit: this has nothing to do with them
EdoBini: If you have in your possession, saddam Hussein currency, you have a problem.. that's all l say .
Fit2beFit: the talk is when it comes time to exchange it
disciple7: did OOTW or Butifldrm see this yet?
Fit2beFit: ‹@EdoBini› your probably right, but it is interesting
disciple7: Saddam Hussein currency? u mean the currency with his picture on it?
disciple7: who the heck is holding currency with SHs picture on it?
disciple7: im so lost
BOBBY: Disciple7... i know plenty
Fit2beFit: ‹@disciple7› im holding some with Trump on it
disciple7: ‹@Fit2beFit› :laughing:
Dianne777: didnt Bush pass an order 13303 (or something like that ) that states the US cittizens can invest in Iraq?
disciple7: are we talking about the old saddam currency or the currency with the horse head watermark currency?
disciple7: ‹@Dianne777› yes
Fit2beFit: Its called Charmin/Trump Currency exchanged in every bathroom in the world
disciple7: ‹@Dianne777› Presidential Order 13303
Fit2beFit: ‹@Dianne777› order 13303 has nothing to do with that
BOBBY: Discipe7..... the saddam notes are the old notes.... no good
EdoBini: You will be surprised to know how gullible people are. Aren't people buying Zim that was discarded b Zimbabwe many year ago ?
disciple7: ‹@BOBBY› right
disciple7: ‹@EdoBini› yes
disciple7: but not me
Dianne777: ‹@EdoBini› yes
disciple7: ‹@Fit2beFit› so that document had to do with the old saddam currency or the currenct their using now?
Fit2beFit: CURRENCY NOW
Fit2beFit: Iraqi General Consulate in Detroit 16445 Twelve Mile Rd Southfield, MI 48076 (248) 423-1250
disciple7: ‹@Fit2beFit› hmmmmmmmmmmmmm don't care what it says.. im not losing hope..
Fit2beFit: Call then and see what they say, i cant, helping daughter at her place
disciple7: did sczin11 comment on that piece?
EdoBini: Ho please, start to count your BLESSING right now that you are involve in this Investments.. Iraq have been using this currency to trade with other Nations since 2004.
Fit2beFit: Its just a good topic, and it seems to get all kinds of answers from so many different angles
BOBBY: Fit2beFit has bought up a valid point / subject.... just needs to be researched
[04:36:14 PM] Fit2beFit: BOOOOOM just got another answer to it, someone posted my question
Fit2beFit: Not sure why you would leave out #2. AND #4. of this law.
How can you understand something without seeing the whole ? So here is the whole article 32 : SECTION 7—CURRENCY Article 32 Issuance of currency
1. The CBI shall have the exclusive right to issue banknotes and coins intended for circulation in Iraq. Banknotes issued under this Article shall be a first charge on the assets of the CBI. The CBI shall make appropriate arrangements for the issue of its banknotes and coins as required for circulation in Iraq.
anknotes 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.
2. Only banknotes and coins issued by the CBI that have not been demonetized shall be legal tender in Iraq.
Fit2beFit: 3. The CBI may, by regulation, limit the amounts of banknotes and coins that must be accepted as a legal tender in payment for an obligation and restrict the denominations of such banknotes and coins in which payment may be made to specified amounts or a range of amounts.
4. The CBI shall be responsible for the supply of Iraq’s banknotes and coins and shall endeavor to maintain the availability of an adequate number of banknotes and coins in all regions at all times.
MichelleL: i obviously spend too much time outa here - Bobby, are we now being told our currency is valueless? please, for us late comers
Fit2beFit: I believe someone is reading more into this than what is obvious. This is stating that Iraq prints it's currency for circulation in Iraq just like the USA prints it's currency for the USA.
You don't see the USA printing "separate" currency for other countries. This section (article 32) of the CBI Law sets the parameter's for currency issuance !
It's about regulating what is on the streets like when they pulled in the 50 dinar notes. It is also setting the regulations for counterfeit notes. IMO it says NOTHING about Iraq paying for currency outside their country. Here is the direct link to the CBI : www.cbi.iq/documents/CBIL... http://www.cbi.iq/documents/CBILAW-EN_f.pdf
Stash: Michelle.....not at all....
BOBBY: MichelleL...... its up for dissussion........ just that
MichelleL: ‹@Stash› Thanks, guess I can go back to burying my head in the sand
Stash: go outside and cool off lol
MichelleL: ‹@Stash› rofl great idea lol - reminder, when I die of heat prostration Stash, you don't inherit my deeeenars ;)
Fit2beFit: The T guy from Bondlady just posted that above, its right on it seems
Stash: oh come on....I will take good care of them
BOBBY: MichelleL..... some interesting stuff got posted, worth reading
MichelleL: Stash, my husband has first right at toilet paper lol
MichelleL: Bobby, thanks, sooner or later my eyes will focus
disciple7: ‹@Fit2beFit› Iraq wont be paying for currency outside their country..
Fit2beFit: and here is another that was Iraq has less than $100 billion dollars in reserves and there are TRILLIONS of Dinar in the hands of speculators, according to FBI records Sterling alone sold $600 million dollars worth so that's a half a Trillion from just that one company in the U.S.
All the bantering back and forth about trade-ability doesn't mean squat until someone can explain just how in the dickens Iraq is supposed to pay at least hundreds of Billions to speculators when they have less than $100 Billion in reserves? asked if it happens or not, why can no one answer this........
Fit2beFit: ‹@disciple7› oil trade?
MichelleL: how has today's drop in oil destroyed our chances for an "imminent" rv lol - I always wanna know what the daily kerfuffle is
disciple7: ‹@Fit2beFit› im talking about us holders we exchange ours into usd so how does Iraq pay for what we hold?
MichelleL: ‹@disciple7› good point - think i'm going to find me some ice cream - or ice water, brb
Fit2beFit: ‹@disciple7› exactally good one
disciple7: ‹@Fit2beFit› Iraq isn't paying us usd when we exchange
disciple7: or rather u echange in gold Iraq isn't paying that either..
Fit2beFit: I know america is so how they gonna come up with all that if it hits .50 or 1.00 is whats everywhere
disciple7: ‹@Fit2beFit› imo cause its digital... ur not getting all physical currency handed to u
Fit2beFit: ‹@disciple7› ok but if i want it in 30 days
disciple7: the numbers on your account get bigger
Fit2beFit: then what
Fit2beFit: this is a mind boggler all this, we need our own dr. rvphil
disciple7: ‹@Fit2beFit› then u get it... but everyone wont do that.. so your saying the country doesn't have the sum your holding?
disciple7: ‹@Fit2beFit› and where in the world are u gonna put it?
Fit2beFit: ‹@disciple7› this was the question i saw..... Iraq has less than $100 billion dollars in reserves and there are TRILLIONS of Dinar in the hands of speculators, according to FBI records Sterling alone sold $600 million dollars worth so that's a half a Trillion from just that one company in the U.S.
All the bantering back and forth about trade-ability doesn't mean squat until someone can explain just how in the dickens Iraq is supposed to pay at least hundreds of Billions to speculators when they have less than $100 Billion in reserves?
BOBBY: Fit to be fit......do you believe the U S can back up its dollar?
Fit2beFit: ‹@BOBBY› my answer to that is the same as to will Hillary win or not...lol
Fit2beFit: ‹@disciple7› No my only answer to that would be petro/oil exchange wise
disciple7: ‹@Fit2beFit› yes.. Iraq isn't paying it...
BOBBY: Fit2befit..... have you ever listened to the Iqd team?
Fit2beFit: ‹@disciple7› petro/oil exchange wise?
disciple7: ‹@Fit2beFit› between countries u mean?
Fit2beFit: only US for all i can gather, meaning our side of it?
Tootsie: ‹@Fit2beFit› they are not going to go to and take their reserves and distribute - does not work that way
disciple7: Im sure the US and IRQ have some kind of agreements on oil... but as for me im not getting oil exchanged
Fit2beFit: ‹@disciple7› ok how do you think then
disciple7: ‹@Fit2beFit› how do I think what?
Fit2beFit: how will the money come from iraq to back our exchange
chattels: ‹@Fit2beFit› Your concerns are well stated, but I submit to you that none of us have the answers to them.
chattels: For me, in the final analysis, this is a very speculative and it may not happen, but I am in it to the end.
BOBBY: Chattels....... some valid points have been raised
disciple7: ‹@Fit2beFit› not sure but I don't understand how money comes from Iraq to back our exchange.. the usd will back our exchange..
chattels: very speculative financial gambit *
Fit2beFit: ‹@chattels› but were just discussing and going back and fourth with
disciple7: and if your going where I think I would imagine the only answer is oil
chattels: ‹@Fit2beFit› which is fine
Tootsie: en.wikipedia.org/wiki/For... ; www.investopedia.com/sear... ; forex markets , may help , not sure
Fit2beFit: ‹@disciple7› The best I learned was in petro/oil dollar exchange arrangements or to be arranged
disciple7: ‹@Fit2beFit› ive heard of some stories revolving around that
chattels: so much of finance seems any more to be a " house of cards " that depends upon paper and confidence therein as opposed to true wealth or value
Fit2beFit: ‹@disciple7› Either way, I'm sure something has to happen, cause they would have changed currency a while back, it seems to late for that since they have paid major bills in it recently
MichelleL: our exchange will be with the us treasury - they in turn will exchange with the cbi in one way or another, or hold for/as reserve currency or trade for oil
MichelleL: we will not be exchanging with iraq
Fit2beFit: ‹@MichelleL› thats is correct
chattels: ‹@Donnie› no sir, but I am such a macroeconomic moron that I doubt that I can comprehend it
Stash: right Michelle
disciple7: ‹@MichelleL› yes that is precisely what I was told.. us treasury exchange and the us and irq has agreement on price of oil
disciple7: but to me all stories until it happens
disciple7: but I have the utmost faith in this happening