Upstart: Is this the last piece of the jigsaw, the trigger to RV ?
Yesterday, a report surfaced in dinar land….. It described a CBI issue of gold coins. I posted these views earlier but it was deleted (rightly so) as I posted a link to another web/forum source. So I am posting again, without the naughty bit.
So, let us see what the numbers say. The CBI is releasing 5000 commemorative coins with a face value of 100 IQD and a further 5000 with a face value of 250 IQD. These coins are 24 carat gold and weigh 15g and 22g respectively. The 15g/100 IQD coins are to be sold for 720,000 IQD each.
I checked the spot price for gold as I typed this message and it was $35.30 per gram. So, a 15g gold coin is worth around $530 based on gold market spot prices.
So, why make it even harder for them ? If you devalue your currency, you make your imports even more expensive and Iraq is heavily dependent on imported goods at present. I’m thinking my disinformation theory may be right and I will come back to that shortly.
Let’s look at the numbers another way : 5000 x 720,000 = 3600,000,000 IQD ! A quick calculation gives us a figure of 8880,000,000 IQD for the 10,000 coins.
Assuming the man in the streets of Iraq has to pay 1200 IQD per USD, He would be paying up to $600 for the 15g coin, not far off its true worth at current gold prices, but it only has a 100 IQD face vale ???? BIG CLUE
Now for my disinformation theory. I believe the economic system needs its wage slaves to function. Whilst many of us will be rich overnight, we know this is not meant to benefit the masses in the way we expect to gain from this.
There has also been a report of people in Kurdistan Region paying 2750 IQD per $1.00 ( rule of supply & demand in effect ). At that price, I’d certainly be tempted to invest in the gold coins as an alternative.
What we need to find out, is the timescale for the issue of the coins. Surely they will actually be worth something like the face value in due course ? Which means the date they go into circulation is the second BIG CLUE
My thinking is that they need to have a face value that means it is not worth smelting them down for their gold market value.That means their value as gold, rather than currency, needs to be less than the face value. That means a 100 IQD /15g coin ( $35.30 x 15 = $530 ) needs to be worth at least the gold market value. Otherwise, why bother giving them that face value ?
The end result is a conversion rate of around $5.30 / 1.00 IQD. Are you thinking what I’m thinking ? …. When these gold coins go into circulation, perhaps it will be followed very quickly by their face value being worth something close to their gold market value ….
Frank26: Hmmm………………… Welcome UPSTART….. \m/
I am with TEAMS and just showed them You post.
From us ………. No comment ……….. Until MONDAY CC.
Frank26: GREETINGS KTFA FAMILY…….. THIS IS FOR YOU:
TEAMS are translating right now ………. I have a second to say ……… SQUIRREL !!!
To do the MR?
NO ………… MATH in…….. Waiting.
It is to ………….. SECURE !!! !!! !!!
You believe these COIN to be of NEW MATH ……… They are not.
What the Frank?
LOL…………. We STUDY this in .5 and SHARE with all on MONDAY CC.
Please enjoy this tiny ……….. Bullion. KTFA Frank
Well it Sounds like “The COINS” are Two fold…One they remove CORRUPTION off the streets,ie Counterfeit Notes and LOCAL Speculators on Coming Attractions……
Secondly they PREPARE the WAY/SECURITIZE/BACK for the Releasing of the LD’s…… by Drawing in WHAT the CBI wants for Future Reserves and the Citizens BEGIN a NEW Relationship of Trust that has been Damaged because of The PAST!!!