Economic doom canceled- from a good source my uncles, sister's son says-No QE 3

Jackson Hole Economic Policy Symposium; August 25-27, 2011
Posted: August 21, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics
Tags: Ben Bernanke, Central bank, Federal Open Market Committee, Federal Reserve Bank of Kansas City, Federal Reserve System, Jackson Lake Lodge, Jackson Wyoming, United States
The Facts: 2011 Jackson Hole Economic Policy Symposium

The key event in central banking, and certainly the mind of the markets, for this week will be Ben Bernanke’s “Jackson Hole speech” scheduled to take place Friday the 26th of August at 10am ET.

The regular event is where US Federal Reserve Chairman, Ben Bernanke, in 2010 introduced the idea of a second round of quantitative easing (aka QE2). Naturally this has driven a lot of speculation about what he may say this time; certainly if nothing else, it will provide an insight into what the FOMC (Federal Open Market Committee) is thinking about the US economy, and how it is factoring that into its policy making.

Listed below are some of the key facts that have been released on the 2011 symposium so far LINK:

What: Economic Policy Symposium
Where: Jackson Lake Lodge, Jackson Hole, Wyoming, USA
When: Ben Bernanke will speak at 10am ET on Friday the 26th of August (the Symposium runs from 25th-27th of August)
Who is attending: Central Bankers, Finance Ministers, Academics, Financial Market Participants (see 2010 attendance list)

More at link

[link to thecurrencynewshound.com]

I have been following the dinar news for years and I can assure what they are reffering to is removing the large denomination notes from circulation. Ie. 25,000, 10,000, 5,000, 1000, notes from circulation. Revaluing the currency so smaller denominational note can be used for purchases instead of having to use a 25,000 note to buy a loaf of bread and a wheel barrow full to buy a car. Not many checking account in Iraq. So please do some research before posting statements like the one you just did.

Edit to add that is they did as you suggest. I iraqi dinar is worth .00085 cents. What could you buy with that. Nothing. Not going to happen that way.lol Think man, think. rken

Last Edited by rken on 08/24/2011 12:53 AM

Yes, this Jackson Hole conference is held every year. Current informed opinion seems to think that explicit QE3 will not be announced. One guy thought Bernanke may suggest that the US government implement heavy infrastructure spending like the WPA in the 1930's.

I will bet you a pizza that the Iraqi Dinar will not be mentioned once, and it will not even enter the consciousness of a single person in the room while Bernanke is giving his presentation.

Well that's exactly what I said.

And so all this stuff about the revaluation of the Iraqi Dinar is irrelevant. You can't expect to get rich by buying or selling the Dinar ahead of the revaluation, and so all those comments I've seen are bullshit as I said.

Now I apologize if that's not what you're saying because it seemed that you are. Are you really saying something else in your original post?

Well there will be at least one Shabibi head of the Iraqi Bank is attending. rken

I'm am saying they will revalue the Iraqi dollar to at least a 1 to 1 ratio with the US dollar. They have already removed most of the large bills from circulation in the country and are mostly USD for most purchases. A new currency will be printed and co-exist with the old currency for at least two years. Both currencies will have the same value. This has been the US's plan all along. Cheap oil and making a mint when the revalue happens. rken

The new Iraqi currency will be printed with 3 languages
Posted: August 22

The central bank adviser Mohammed Saleh said “the new currency will be printed in three languages: Arabic, Kurdish and English, the real opportunity to apply what was referring to the Iraqi constitution,” stressing that “the old currency will not be canceled immediately after issuance of the new, but will be dispensed gradually.”

Saleh pointed out “there is no difference in the new currency on rights at the exchange rate and acquisitions,” noting “when we want to buy dollars in 1200, we buy at one dinar dinars and 200 fils.”

......... has been forwarded to the Council of Ministers and MPs, if approved by the government it will work it directly.”
[link to thecurrencynewshound.com]

edit to add, without a revalue at the same time, the new currency would be worthless. The above article suggest a new exchange rate of 1 to 1

what was 1200 dinar worth aprox. 1 dollars

1.2 dinar will be equal to approx 1 dollars

This also remove zero's from the currency.

Last Edited by rken on 08/24/2011 01:08 AM

They won't delete 3 zeros from the currency, they will withdraw larger denoms. You will exchange 25,000 for 100 25.

If you delete 3 zeros, that would significantly reduce the monetary mass. At 0,00086, you can't do that.

They are about to release smaller denoms (1,5,10, etc)...what would they be used for if 1 dinar is worth 0,00086? They need to revalue the currency in order to release the smaller denoms. They already said they would through official CBI articles.

There are other economic plans as well, such as the World Global Settlements, the Prosperity Funds, Falcone's Funds, Wanta Funds...

I'm surprised it's not discussed more on GLP.

The situation is very real.

Now they may be a lot of disinfo posted on this thread because TPTB does not want you and me to invest.

They have over 3.5T dinars.

Read the declassified document OP posted and educate yourself. The reason they are dragging this out, imo, is that they are letting TPTB run out of it. They are selling it to Japan and I,ve heard they were selling it to another country as well through under the table deals. They need liquidity now!

If it happened sooner, the bad guys would have recapitalized, which is not the effect wanted.

Right you are my friend. Thanks for the input. Yes not to many threads in this regard. To bad, as it will be a key factor in the US recovery, currency wars going on, and the health of the dollar. rken

Hahahahha amazing!

now the economy will crash due to the GLP Effect!

Good one, but I doubt it. Doesn't seem to work that way. Only works on predicted DOOM ROFL rken

bigbump

Hey Rken,

Okie called it!


He said he might receive a call tonight if it happens. Remember how he said he would get a call within 20 minutes of RV. It took 7 minutes!

Let's hope he's right this time!

[link to www.dinarrecaps.com]

He said the button has been pushed at 12:00am Est and we should see it in the morning.

Won't get too excited this time, he's been wrong 100% of the time, but never called it like he just did (never received THE call neither...which he just did!)

I hope I don't have to go to my lame work tonight!

Was wondering that myself...rken, could you please explain (in stick figures! I'm BLONDE!)

When they are talking about dropping 3 zerros, you must understand there are only about 10,000 words in their language. So translation can be difficult.


But after reading many articles like the one I posted above. What they are talking about is removing all the large denomination bills from circulation(dropping the notes with three zerros). ie 25,000 note, 10,000 note, 5000 note and the 1000 note. This has been accomplished according to all the news article I have read. They are currently using mostly US dollars to conduct business during this a transition period. They still have some mid sized bills in circulation (500, 250, 100) but they have little value. The small denominations that were printed have never been released as they are worthless. If you read my above article you will see that the new currency and the old currency will exist at the same time and have equal value in terms of what each dinar is worth. But it does them no good to release the new currency until they revalue their money as a 1 dinar note is only worth .00085 cents. I hope this explains the situation. If you have more questions feel free to ask. rken

The real reason behind no QE3,is because the Iraqi dollar (dinar) is to be link to the US Dollar and it must remain stable for the RV to take place. RV coming soon. rken

hey rken

where did the federal reserve redemption thread go???

Here you go.

Thread: Pay No Taxes legally -End the FED -synopsis page 8-Why are waiting for someone to do it for us like Ron paul

rken

thanks rken.

changed the thread name so it wasn't coming up on search.

I also read your iraq dinar thread which was interesting. However, I don't quite get why the devaluation of the currency would change the valuation of the currency. I worked in mexico during a devaluation and they simply dropped a zero. no drama and no value increase.

can you explain again WHY the dinar will APPRECIATE in value if the currency is redenominated?

How confident are you of your projection? I think it is a good bet simply because there appears to be little downside risk. WOrse case is one still holds the redenominated dinars.

playing with the red shield boys is ballsy.

Most of the time like in Mexico, and argentina and a few others, they were experiencing hyper-inflation. They kept adding larger and larger denoms to the money supply, thereby decreasing the about of bills needed to pay for something.

In Iraq the opposite is true. The currency has actually increased in value for a 8 year period, from appox 4000 iqd to 1 USD to now appox. 1180 IQD to 1 USD. Iraq's currency situation was due to the occupation and sanctions and the desire to not give terrorists access to large amount of money that could be moved easily. So You can see the Iraqi situation is much different than some other countries situations who just lopped off zeros from their currencies.

I hope this sheds some light on the current situation in Iraq in regards their RVing there currency.

What they seem to be doing in Iraq is removing the large denoms like the 25,000 note worth about 22usd and using US dollars for most purchases. Over 80% of the large denoms, 25,000, 10,000, 5,000 and 1,000 dinar notes have already been removed form circulation. Most of the remains large denome exist outside the country. They have small denoms already printed but no one is using them as they are basically worthless. So the Idea is to RV the dinar to at least 1 Iqd to 1 USD thus making all the small denoms valuable in everyday trading.

Actually the sitution in most of the countries like mexico when the they drop zeros from the currency, it usually raises the value of the currency ie. If you have a 1000 note that buys a hat worth say 5usd and you drop two zeroes usually you end up with a 10 note that buys the same hat. So in the first case 1000= 5 USD and in the second 10=5USD. rken

rken

Last Edited by rken on 09/05/2011 01:45 PM