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Thread: Iraqi dinar would soon return to what it was prior to 1980

  1. #11
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    Quote Originally Posted by dinar_dude View Post
    So, if the Iraqis are going to raise the value of the dinar to previous levels, as it mentions in this post, they will have to float or unpeg the dinar from the dollar, and we're on easy street.
    A peg of 1167 is a transparent guarantee that the CBI owns on it's balance sheet assets valued at $1 for every 1167 dinar liability. What would happen has already happen before. Saddam by decree removed the peg or any guarantee of assets to back dinar and the dinar collapsed from ~$1 to 1 dinar to ~$1 to 3600 dinar which is why there are so many dinar in circulation today. If the peg were removed today and assets not guaranteed, the dinar would quickly collapse in value.
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  2. #12
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    My question is where is their Gold going???

    Thought most of it was held in the NY Federal Reserve Bank for uhhh safe keeping...

    My guess to Germany.

    "FRANKFURT — Nearly half of Germany’s gold reserves are held in a vault at the Federal Reserve Bank of New York — billions of dollars worth of postwar geopolitical history squirreled away for safe keeping below the streets of Lower Manhattan.

    Now the German central bank wants to make a big withdrawal — 300 tons in all."

    http://www.nytimes.com/2013/01/17/bu...rves.html?_r=0
    Adversity does not build character, it reveals it.

  3. #13
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    "Now the German central bank wants to make a big withdrawal — 300 tons in all."

    Hope you haven't lost the keys to the vault Mr. Bernanke !


    BTW, I like this quote -


    " The New York Fed stores the German gold without cost on the theory that the presence of foreign gold supports the dollar’s status as the global reserve currency. A spokesman for the New York Fed declined to comment. "


    Anybody tell me, how is it possible for ME to use another person's (or nation's) wealth to support MY OWN financial position ?

  4. #14
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    Quote Originally Posted by TheZeppyWanderer View Post
    "Now the German central bank wants to make a big withdrawal — 300 tons in all."

    Hope you haven't lost the keys to the vault Mr. Bernanke !


    BTW, I like this quote -


    " The New York Fed stores the German gold without cost on the theory that the presence of foreign gold supports the dollar’s status as the global reserve currency. A spokesman for the New York Fed declined to comment. "


    Anybody tell me, how is it possible for ME to use another person's (or nation's) wealth to support MY OWN financial position ?
    The rules don't have to make sense, just as long as the players agree to play nicely by them.

  5. #15
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    Quote Originally Posted by BABYBULL24 View Post
    My question is where is their Gold going???

    Thought most of it was held in the NY Federal Reserve Bank for uhhh safe keeping...

    My guess to Germany.

    "FRANKFURT — Nearly half of Germany’s gold reserves are held in a vault at the Federal Reserve Bank of New York — billions of dollars worth of postwar geopolitical history squirreled away for safe keeping below the streets of Lower Manhattan.

    Now the German central bank wants to make a big withdrawal — 300 tons in all."

    http://www.nytimes.com/2013/01/17/bu...rves.html?_r=0

    They were scared that maybe Cyprus could get their hands on it.

  6. #16
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    Quote Originally Posted by BABYBULL24 View Post
    My question is where is their Gold going???

    Thought most of it was held in the NY Federal Reserve Bank for uhhh safe keeping...

    My guess to Germany.

    "FRANKFURT — Nearly half of Germany’s gold reserves are held in a vault at the Federal Reserve Bank of New York — billions of dollars worth of postwar geopolitical history squirreled away for safe keeping below the streets of Lower Manhattan.

    Now the German central bank wants to make a big withdrawal — 300 tons in all."

    http://www.nytimes.com/2013/01/17/bu...rves.html?_r=0
    BB24

    My Guess is IRAN!

    to pay for goods as the UN (west) has thrown them out of the Swift banking system.

    EB
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  7. #17
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    Would you trust our government? I wonder what ship that is sailing on.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

  8. #18
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    wonder how many bitcoins 1 IQD is ?

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