Thread: Iraq/Dinar News. 09/05 to 01/14/07

:0)))))) Iraq putting a private bank in Syria.

http://www.menafn.com/qn_news_story_...storyid=111360

Thanks Adster,

I missed that last one, imagine that, the first bank outside of Iraq, and more to come, it is just a matter of time, and as we all know, timing is everything.

Good luck to all, Mike

Allow me to fill in the gaps you miss Mike, lol.

I find the article above more amazing. It's paramount to saying if this isn't a lead up to a revalue I don't know what is.

Get the feeling from reading forums/various sites that more and more people are ordering Dinars. This again giving it enough coverage will in my opinion force it to be put opened onto the World Market in the near future.

What do you think Mike?

found this on google:

Don't believe the Kuwait Comparison
Yes the Kuwaiti Dinar crashed as a result of the 1990 Iraqi invasion, but this ONLY applies to notes in circulation at that time. After the Kuwaiti Government was restored, they issued a new series of banknotes with the same US Dollar exchange rate that the Kuwaiti Dinar had been fixed at before the war. Kuwaitis with old notes had to hand them in to be swapped for the new money. When the notes were being handed in, they were checked against the known serial numbers of notes in stockpiles at the Central Bank of Kuwait which had been stolen during the Iraqi occupation. Stolen notes would not be exchanged - point blank. Other notes could only be exchanged by Kuwaiti residents during a very short period of time, after which all previous banknote issues were declared worthless. And in this case worthless means WORTHLESS. Current 20 Kuwaiti Dinar notes have a face value of about 75.00USD at the exchange booth. Older ones sell on ebay for about 10.00USD to collectors - and that's for one without any folds.

Investing in currency can sometimes be a good idea. Investing in the paper kind, when you don't live anywhere near the issuing country is a BAD idea. Unlike the USA and UK, most countries demonetize their old currency. When Iraq issues new notes, and probably lops off four zeroes in doing so, they are likely to give Iraqis a short window to exchange their old money, and then declare all previous banknote issues as being worthless. Joe Schlub in Deliveranceville Alabama won't be able to do very much with his prized 1,000,000 Iraqi Dinar cash investment once that happens.

Try finding a major reputable bank in the US or Europe that readily exchanges Iraqi Dinars at a market based rate (and not some opportunistic rip-off rate) on a day to day basis.

Moral of the story: Don't buy Iraqi currency! Just because there's oil there doesn't mean the economy will boom.

If you reckon Iraq is a great investment and you really want to invest money there, wait until the next foreign-currency bond issue by the Iraqi government, and throw your hard earned money at that. There's less chance you'll lose all of it.

Question for you hassle,

You asked whether people anyone earning from referrals if they went wrong would give back the money that someone had paid to join.

Turning it around will you do the same if you put someone off getting involved in Dinars or whatever it is and they come in and could have made money? How many people did you sign up from your Dinar homepage before you took it off?

As for banks being able to exchange them, there are already 2 banks in the western world that said they will do it, and more will follow. And once it hits the World Market, the majority of banks that deal with exchange currency will deal in them wherever, the US, UK....

People can choose to do as they please. Their decisions. There are more pluses than minuses coming out of Iraq at the moment.

And all this from a man that was "marketing" them himself on his homepage and earning commission not so long ago until he took it off after he was found out.

Gives you ZERO credibility hassle on this forum.

What 2 banks in the western world will exchange Dinar? If there is a value set on the Dinar eventually, which will happen sooner than later IMO, but the Dinar is not traded actively on the Forex, which I think will be a strong possibility because no other mid-east oil producing countries currency is actively Forex traded (to my knowledge), do you think that US banks will accept exhanges on the Dinar for US $?

Interesting,

Yes, all investing is a gamble, anyone who has lost in the stock market, commodities, FOREX, futures, real estate, heck, it is all a gamble, but it shouldn't stop us from gambling, and that is the secret to wealth, you have to take a gamble onces in awhile. If I hadn't taken a gamble, I would never have made what I have so far in my life, so the sooner you learn that lesson, the sooner you will also reach your dreams and goals of financial freedom.

For those sitting on the fence, look at it this way. Investing in the Iraqi dinar is no different than when others invested in war torn currencies. Do a little history search and millions were made over and over again. Some made millions fast, some it took several years, but in the end, everyone made money investing in currencies.

The way I look at it is simple. Having hit a home run with the Kuwait dinar a decade ago, I see this as if we were the proud owner of the winning million dollar lottery ticket, except for one thing, you don't know the drawing date yet. LOL So get your tickets now.

Good luck to all, Mike

Interesting,

Yes, we can compare to Kuwait, but in reality, this is a very unique situation and it cannot be compared to anything in the history of world currencies, so yes, you can pick apart the comparisons just to hassle us, but in reality, only time will tell.

The funny thing about any investing, you will find pros and cons to every investment venue in the world, so hassle aside, keep digging up old articles if that is what gets your jollies off. I made a small fortune in Kuwaiti dinars, and so did thousands of others, many who were US soldiers, just as they are now with Iraqi-Investments. Kuwait has little economically speaking then, and they have little now in comparison, and their currency is highest ever.

The way I see it, at worst, there has to be some unity in the middle east, and this involves the currency as well. If I have to visit Saudi Arabia, Turkey, Qatar or now Seria to cash out, so be it, I have already been to Qatar on business, and this is as safe as it gets, so what is the issue if it takes a year for major western banks to accept and exchange Iraqi dinars, this is not just a short term investment, it is also a mid to long term one for most.

The most simple way I can state the risk level is this. You have just purchased a million dollar lottery ticket, but you don't know when the drawing will be held yet. LOL So hassle, hang around for the drawing and be sure to inteject your old information anytime you like, it is humerous to say the least.

Good luck to all, Mike

Originally Posted by Jetsa1

What 2 banks in the western world will exchange Dinar? If there is a value set on the Dinar eventually, which will happen sooner than later IMO, but the Dinar is not traded actively on the Forex, which I think will be a strong possibility because no other mid-east oil producing countries currency is actively Forex traded (to my knowledge), do you think that US banks will accept exhanges on the Dinar for US $?

Interesting,

This is always a concern, how convenient will it be to exchange dinar for US dollars, Euro or whatever, and in time, this will not be an issue. Two major banks have announced they will, but they are not yet exchanging, for obvious reasons, the peg has not been set yet. HSBC and BA will surely be online when that occurs, and many others as well. Once reason is obvious, most of the US forces are grabbing up as much dinar as they can, all one has to do is search for sellers, and most are military, and this had been the case with Kuwait dinar as well.

In reality, this should not be an issue. As example, you can travel to exchange or work with brokers who will exchange. I go to Qatar, so if someone wants to cash out in the short term, let me know. (g) Most will hold onto there dinar for longer periods for larger gains, so the issue of convenience will not be of concern by the time most start cashing out.

Good luck to all, Mike

interesting, zzzzzzzzzzzzzzz
forget about mlm's, hyip's and forex.
sit around for 5 years waiting for the IRQ to come good.