Post From Wealthwatch.world Chat Room 11-11-15
Wealthwatch OOTW & Butifldrm Chat 11-11-15 Part 3 of 3
Winnerdinar: I could not stop reading after seeing the lop article -what I think buti was trying to point out and what I was describing is they are restructuring the currency( not lopping )
Winnerdinar: I do have a second theory
BOBBY: Winnerdinar..... makes sense
Winnerdinar: ‹@BOBBY› Ty Bobby
BOBBY: no matter what...... we watch and wait
Winnerdinar: They could be issuing the 50,000 notes and giving us a timeframe to exchange the full series of the 2003 notes - I think in the past it was mentioned up to 2 years -this would support the RV theory
chattels: I need a drink
Winnerdinar: ‹@chattels› lol sorry buddy
chattels: ‹@Winnerdinar› :)
BOBBY: i vote for the first theory lol
Winnerdinar: I wish I had a diagram to explain myself better
OOTW: I WOULD THINK THERE MUST BE A BALANCE TO BE STRUCK FOR THE PEOPLE AND THE ECONOMY OF IRAQ
OOTW: AS DISAPPOINTING AS IT SOUNDS - IF THEY GIVE THESE 50K NOTES, IN EFFECT, DOUBLE THE CURRENT VALUE, THEY ARE (AT LEAST FOR A PERIOD OF TIME UNTIL FURTHER POSSIBLE CHANGE IN VALUE) GIVING THE PEOPLE SOME PURCHASING POWER
BOBBY: OOTW..... do you think this is there way of appeasing them somewhat?
OOTW: THIS WAS ALWAYS GOING TO BE ABOUT THE IRAQI'S NOT US
Butifldrm: ‹@OOTW› Ok why would Iraq redenominate and release 50K notes
OOTW: BUTI AS YOU KNOW I'M NO ECONOMIST - SO AS A LAYPERSON I WOULD THINK IT WOULD BE TO PULL IN THE LOWER DENOMS
Butifldrm: the article I posted is from 2011
OOTW: AND YET GIVE THE PEOPLE MEANS TO PURCHASE AND ALSO TO GET RID OF THE DOLLAR
Butifldrm: the truth of the article is what winner was stating
Winnerdinar: I just want to say that my theory is just that of my opinion. I am no expert and I am no guru. I only wanted to explore what OOTW translators information was presented to us
Winnerdinar: ‹@Butifldrm› your awesome
Butifldrm: that the CBI was going to release notes and this is the truth of the article
Butifldrm: He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions.
BOBBY: Butifldrm. ...... in your opinion, is this just a starting point?
Butifldrm: this is the 50K note
OOTW: CONFIRMING WHAT THE VIDEO STATES AS THE INTENDED VALUE OF THE 50K NOTE
Butifldrm: If the CBI were going to redenominate they could have done that a long time ago
BOBBY: Winnerdinar. ....... be glad your not a guru lol
Butifldrm: This note has the abbility to draw in the lower denoms
Winnerdinar: ‹@BOBBY› I'm an underpaid nurse lol
Butifldrm: ‹@BOBBY› he is a very special guru
BOBBY: Winnerdinar. .... i dont know of any other kind ...
Butifldrm: At the time this article came out for those of us who were not invested
Butifldrm: Selah was the propoganda master
Butifldrm: he was the mouth piece of the CBI
Butifldrm: IMO their were half truths in all the articles he presented
Butifldrm: notice fast forward
Butifldrm: he now under Abadi has made no such references
Butifldrm: even though we see the CBI come out with the release of the 50K noate
Butifldrm: this article no matter how they get there proves winnerdinar right
Butifldrm: IMO Iraq will not LOP Butifldrm: they could have done that years ago
Winnerdinar: I agree Buti no LOP
Butifldrm: today we see an article that comes out and states Iraq is going to comply with IMF requirements
Butifldrm: Why? Butifldrm: because they are in a sovereign debt crisis
BOBBY: so would you consider this the start of reconstruction of the dinar?
Butifldrm: Iraq has already received disbursements this year www.imf.org/external/np/f...
Butifldrm: they so sadly have to play the IMF game
Butifldrm: I do
TxBrand: so...do you think they will draw all of the dinar except 100,000? I cant see that
Butifldrm: I don't want to look, but we have all read articles from economists that state that Iraq should devalue the currency to meet the budget
Butifldrm: that's either BS or clueless
Butifldrm: the only way Iraq could meet the budget deficit would be to increase the value of the dinar
Butifldrm: ‹@TxBrand› yea
TxBrand: maybe the translation meant revalue lol not devalue
Butifldrm: no the articles were talking about devaluing the dinar to 1300 Butifldrm: or 1500
Butifldrm: anyway that would not help their circumstance
Butifldrm: Truly devaluing a currency helps only for export
Butifldrm: and Iraq is an importing nation
Butifldrm: they need to be able to increase their purchasing power not decrease
Abraham: Iraq would collapse with any further devaluation because they would not have the reserves to back any further devaluation
Butifldrm: one their economy is diversified enough that would be anoter story, but today they have a sovereign debt crisis as do all oil dependent countries
OOTW: REALLY ENJOYING THIS DISCUSSION
Abraham: Common sense would tell you if they are in a financial bind now, a devaluation does not solve the issue, it makes it worse
Butifldrm: ‹@Abraham› Iraq has the reserves to cover 150% of the currency in circulation
Butifldrm: the issue here the cost of the dollar Butifldrm: and the impact on the people
Butifldrm: Since shabibi's exit the cost of the Dollar has pretty much been above the 2% spread that the IMF requires to be considered under a dual currency practice
Butifldrm: IMO primarily because of corruption
Butifldrm: the CBI has not been able to control the amount of dollars leaving the country illegally which lead to the government trying to control that process
Butifldrm: the 75B limit in this years budget was just an example
Butifldrm: the CBI tried and lost - now they auction what they need to meet the supply and demand
Butifldrm: still thye cannot control the spread Butifldrm: one more thing
Butifldrm: has anyone notice how much the USD index has gone up the past few months
Butifldrm: that also impacts the sale of the dollar Butifldrm: and the spread
Butifldrm: Hopefully, Iraq is getting some good counseling and we see the article today that comes out about the loan and Iraq will now have to comply with the IMF guidlines
BOBBY: Does any of this effect there credit rating in the long run?
Butifldrm: this gives them a great opportunity to move from article XIV to article VIII
Butifldrm: yes of course
Butifldrm: read this Butifldrm: wealthwatch.world/showthr...
BOBBY: so really this is positve movement?
Butifldrm: truly Iraq could add a 3.00 value to the Dinar and unless they were in article VIII I doubt you could cas in
Butifldrm: ‹@BOBBY› yes, I think this is part of their monetary plan to increase the value of their currency
OOTW: FOR REFERENCE wealthwatch.world/showthr...
One step closer to article VIII Iraq is consistent with the IMF on the last control of financial and economic policies in the country
Abraham: ‹@Butifldrm› As I have said for years this is what Iraq needs to put their house in order. They monetary policy is now controlled
Butifldrm: Maliki never wanted to play the IMF game because he and his cronies were to busy siphoning off the money
Abraham: They get funding, but the IMF managed their monetary policy
Abraham: It is good for us as investors
MichelleL: optimism is so nice :) A reason for optimism is even nicer!
Butifldrm: ‹@Abraham› debt is never good
Butifldrm: and truly I wish iraq did not have to borrow the IMF's money
Abraham: ‹@Butifldrm› no because it places the hand in the Lion
Butifldrm: but IMO what's happening now is plan and part of the IMF's sugestions for monetary reform
Abraham: Lion's mouth
Butifldrm: ‹@Abraham› yes, for sure
Butifldrm: but their are 183 countries world wide in the Lion's mouth
Abraham: ‹@Butifldrm› our hand is in the Lion's mouth too
Butifldrm: and if you have the least expectation of gaining from this investment, Iraq has to play their game
Abraham: ‹@Butifldrm› yes :smile:
BOBBY: the lion definitely has a mouthful lol
Butifldrm: the entire World economy has it's mouthful
BOBBY: so what do you see as the next step for Iraq s progress?
Butifldrm: OOTW, can u think of anythin I did not cover?
Butifldrm: One last note
OOTW: NO I THINK YOU GOT IT ALL, BASED ON THE ARTICLES AND PRESS STATEMENTS RELEASED IN THE PAST TWO OR THREE DAYS
OOTW: I WILL ATTEMPT TO GET A TRANSLATION OF THE CBI STATEMENTS RE THE 50K NOTES AND BANKING PROCEDURES FROM THE TRANSLATOR
Butifldrm: now that Iraq has agreed to comply with the IMF again we need to watch the spread, I'm excited to see how the release of the 50K notes and the exchange processes will affect the spread
OOTW: I WILL POST THEM IN THE THREAD FOR THE VIDEO AS WELL AS THIS CHAT
Butifldrm: sounds good Butifldrm: night ya'll
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OOTW: NIGHT BUTI OOTW: THANKS AGAIN!
MichelleL: Thanks OOTW, and many thanks to Butifldrm too!
OOTW: SURE THING
BOBBY: OOTW..... any thoughts on doing a call in the near future?...... end of the year wrap up ?
OOTW: WELL THAT'S ACTUALLY A GOOD IDEA BOBBY