14:03:20 [kaperoni] oh more lop talk
14:03:23 [kaperoni] wont happen
14:03:42 [kaperoni] i tend to beleive we will see about 1 to 1 rate
14:03:54 [kaperoni] and rise from there not the high rate they are saying
14:04:43 [tenmillion] kaperoni but how do you explain the 3 zero articles that explain it as a redenom ?
14:05:20 [kaperoni] it is just the way they talk. it could be translation. There is no way this will LOP
14:05:58 [tenmillion] kaperoni what if I told you I found it in a current govt. document stated the same way?
14:06:10 [kaperoni] why would they ever say, we are going to rv and honor dinar at full value? that would be stupid
14:06:14 [kevinkrt1] kaperoni i am glad someone says that , your not going to tell me to buy more dinars now are you ...
14:07:07 [kevinkrt1] kaperoni so you thing it will revalus at 1 to 1 a 25k note would be worth 25k usd ?
14:07:25 [tenmillion] kaperoni they would not say it...that's true...but I have found it in a document...it's not an Iraqi news article
14:07:30 [kaperoni] tenmillion I am sure it stated in different docs, but i look at the most important thing...Iraq needs credibility. If they LOP, no-one will trust the,
14:07:50 [tenmillion] kaperoni I agree
14:07:53 [kaperoni] kevinkrt1 yup
14:08:34 [kaperoni] kevinkrt1 Ali stated he thinks it will come out at .26
14:08:38 [kevinkrt1] kaperoni i have always said that the rate .s of 3 plus are ludicrous , i would be more inclined to believe a rumour if someone said rv Sunday at .86
14:08:55 [kaperoni] and rise over time controlled
14:09:01 [kaperoni] but to me that is too low
14:09:13 [kaperoni] but a 1 to 1 i can deal with
14:09:18 [kaperoni] maybe a bit higher
14:09:23 [kevinkrt1] kaperoni i would take .26 tomorrow and never look back .......
14:09:24 [kaperoni] 1.26 to 1
14:09:26 [tenmillion] kaperoni I just think that we need to consider all points of view, especially since some opinions are interpretations
14:09:33 [kevinkrt1] kaperoni when ?
14:09:35 [kaperoni] tenmillion i agree
14:10:02 [kaperoni] and i dont want to follow Guru's thoughts who intentionally look the other way
14:10:30 [kaperoni] but in this case, there are more benefits to Iraq to honor full value than to LOP
14:10:55 [kaperoni] most of the dinar will got the Feds, right?
14:11:03 [kaperoni] ali even stated that
14:11:41 [kaperoni] he is using his 8billion dinar he has as his colateral for a credit line at various larger banks, right?
14:11:42 [tenmillion] kaperoni most of the dinar will go to the Feds?
14:12:03 [kaperoni] so if you are exchanging through him, the dinar will go to WF or whoever
14:12:11 [kaperoni] so it ends up at the feds
14:12:29 [kaperoni] the feds are not in the gift giving business, right?
14:12:39 [kaperoni] so why would they give you 4 to 1?
14:12:42 [kaperoni] they wont
14:12:49 [tenmillion] kaperoni Yes, I think he would have to have a credit line at some of the big banks
14:12:51 [kaperoni] because everyone knows it will settle about 3 to 1
14:13:04 [kaperoni] so the feds get it at .26 to 1
14:13:06 [kaperoni] ot 1 to 1
14:13:11 [kaperoni] or 1.26 to 1
14:13:25 [kaperoni] and bingo, over time they make 3 to 1
14:13:34 [kaperoni] and buy oil at $32 a barrel
14:13:57 [tenmillion] kaperoni the feds will buy oil????
14:13:58 [kaperoni] that is how i look at it.
14:13:59 [kevinkrt1] kaperoni great when does this all start?
14:14:11 [kaperoni] tenmillion well the USA will buy oil
14:14:25 [tenmillion] kaperoni oh...ok
14:14:40 [kaperoni] kevinkrt1 i dont know
14:14:42 [kaperoni] soon i hope
14:14:51 [kevinkrt1] kaperoni still think this year?
14:15:18 [kaperoni] iraq will not see these denoms until they come back for oil sometime down the road IMO
14:15:31 [kaperoni] kevinkrt1 Shabibi said this year, i hold him to that
14:15:50 [kaperoni] kevinkrt1 they need to soon yes otherwise there will be problems
14:15:58 [kevinkrt1] The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, i hold a lot of faith in this statement
14:16:13 [kaperoni] yup
14:16:30 [RHooghe] kaperoni will the fed use some of the money they make to pay down the deficite
14:17:08 [kaperoni] RHooghe i would assume so yes
14:17:26 [kaperoni] why else would they spend like they are?
14:17:47 [kaperoni] tenmillion now here is another thing that makes me think no LOP
14:17:52 [RHooghe] kaperoni so once they do that they will work on lowering our taxes right
14:18:12 [kaperoni] tenmillion the Paris agreements and the non-paris agreements were negoitiated
14:18:19 [tenmillion] kaperoni yes
14:18:27 [kaperoni] it states pretty clearly that exact details of those are not public
14:18:43 [tenmillion] kaperoni so what are you thinking
14:18:45 [kaperoni] but they say, that in order to get the forgiveness countries often
14:18:58 [kaperoni] negotiate contracts such as oil or use currency
14:19:08 [kaperoni] as a way of making agreements
14:19:37 [kaperoni] I dont know what other countries have, but the USA has 3.7 trillion ( Iread that somewhere)
14:20:22 [tenmillion] kaperoni it's possible, but the first payment is due next summer
14:20:31 [kaperoni] if the LOP, why would we give up all our debt war and economic for 3.7 billion?
14:20:49 [tenmillion] kaperoni how do you know they have 3.7 trillion?
14:20:59 [kaperoni] lop at 1 to 1 - read it in some docs
4:21:21 [tenmillion] kaperoni I would like to read them
LOL
14:22:31 [kaperoni] lets look at the LOP
14:22:40 [kaperoni] lets say it LOPs and comes out at 5 to 1
14:22:41 [tenmillion] ok
14:22:58 [kaperoni] even that would never hold water
14:23:38 [kaperoni] evenually it would settle back at 3 to 1
14:23:56 [kaperoni] and the feds would lose money
14:24:04 [kaperoni] so it wont be high
14:24:07 [kaperoni] it will be low
14:24:14 [kaperoni] and full value
14:24:32 [tenmillion] so what rate are you thinking?
14:24:34 [kaperoni] i hate to say, i think ali si right
14:24:41 [tenmillion] oh no
14:24:41 [kaperoni] .26 to 1
14:24:55 [kaperoni] then it will rise
14:25:05 [kaperoni] but who knows
14:25:29 [kaperoni] the argument of the .26 to 1 is that more speculators will jump in
14:25:43 [kaperoni] but that is a good thing
14:25:48 [kaperoni] for IRaq
14:26:04 [tenmillion] there are some that would say that the speculators would go in and buy up at .26
14:26:27 [kaperoni] yes, there is that talk, but the risks still exist
14:26:32 [tenmillion] well..yes, they would pull in the large notes
14:27:27 [kaperoni] tenmillion a high value to "get the notes in fast" means nothing to Iraq
14:27:35 [kaperoni] they will honor them
14:28:56 [kaperoni] all i can say there ei no way these dinars will get on a plane and go back to the CBI