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

Originally Posted by warrior44

this is my 1st post, the bank i got my 1st million dinar from told me when i was ready to cash it in it would take 3 weeks to get the us dollars and also the exchange rate the day i brought it in would not be the rate i would receive. they said the rate would be on the day they finally processed it. so i called bank of america and they said if you have an account with them you would get the rate of exchange for the day you took it in and would recevie the us dollars back in 2 day's. if you don't have an account with them it would take 2 weeks before you would receive the money, although you would get the rate exchange for the day you took it in. does any of this sound right to anyone? or is there a quicker smoother way to do this? i'm not trying to get the cart in front of the horse i just want to get things in order and lined up before the r/v hits.

Dump that bank. This is not a check that needs clearing, the funds, although liquid, are in the ground and ready for withdrawal.

THere seems to be a little ocnfusion about commodity prices. I am not sure why, but the vast majority of all pricing that Iraq gives when dealing with the rest of the world is a USD price. This is because right now that is what their currency is based on. Therefore is Exxon were told they woudl have to pay $3bn dollars, then this is USD and woudl be the same amount in USD if the currency were to revalue. We have also spoken before a long time ago that world commodity prices are largely based in USD so it is easy for us to all compare in teh open market. Therefore the Steel etc that is required to be imported into Iraq is also based on USD, and those steel prices will also remain the same in USD terms if the IQD does reval.
THe best strategy i see is that if a compeny was to do soething, then for them to get the USD converted into IQD now woudl be the best result as they too woudl benefit from teh reval. Companies would love iraq as they woudl be able to make a huge profit and essentially build a refinery for oil or gas at 1/1000th of the normal cost. Companies that were supposed to go into iraq would be ****ing taht they did not have the chance to get the funds into iraq now. THe iraqi's have been receiving money from overseas as aid to work on fields, which i am sure requires imported goods. I woudl not be surprised to see the figures reflect that they are possibly holding off importing these goods now knowing full well that they are holding billions of IQD and the cost of the imports required in IQD terms will reduce significantly. This would also work in well with all of the holidays as they can give a good reason why they are not importing right now.
THis may not be news, but it is a good theory that may warrant some thought.

Originally Posted by Vipor

Yup. About an hour ago on Fox.

I heard Kemp say that on H&C as well... They re-broadcast it later in the evening...

and another thing...

Has anyone found any type of news that is comparable to what Kofi Annan mentioned about the world being suprised very soon about Iraq?

I haven't.

Also i was reading an article in the link below that clearly states that after the FIL we shoudl start to see more overseas banks allowing customers open an account in IQD in an overseas bank. I have not seen it posted here but may be a while back.

It says this:
5. Opening accounts in Iraqi or foreign currency or both at Iraqi banks or at banks outside Iraq

http://www.iraqdirectory.com/DisplayNews.aspx?id=2370

If it is confimed that we can open an IQD account in an offshore bank, i don't see why those rumors that state they are going to reissue and not allow overseas people to exchange could be true.

I really hope that for a lot of people holding more than me that they also hit the futures market as a lot of people could essentially lock in a future sale price.

Also seems to me that Warka may have been a total waste of time for people if it passes and every other major bank in the world allows IQD accounts that earn interest in the local currency. Here in Aus it is common that USD accounts earn interst paid in AUD to your account. And you only have to pay tax on the exchange gains at the time you actually convert it from IQD to another currency. Only problem here is rocking up with that much cash requires quite a bit of security checking, however i am holding $25k notes so there is no way that i can convert those without raising the same alar bells anyway.

It also clearly states that you can walk away from iraq with your capital and revenues brought into iraq in hard currency. Now this also seems to me like the rumors about not leaving iraq with too much currency may be just rumors. I have never heard of them being confirmed. Even if they are now, stopping people with large amounts of IQD would seem to be agains the FIL if it were to continue.

Originally Posted by Frank Rizzo

I heard Kemp say that on H&C as well... They re-broadcast it later in the evening...

and another thing...

Has anyone found any type of news that is comparable to what Kofi Annan mentioned about the world being suprised very soon about Iraq?

I haven't.

its comin, better known in arabic translations as DELAY. lol

Originally Posted by shotgunsusie

spenard which is the middle of anchorage but over by the airport kinda. im not allowed on a bike anymore because of the head injury, as the attending neurologist said another bump up there and im history.

i have gotten permission (caregiver) to ride SLOW IN A PARADE type setting on a TRIKE so at least thats SOMETHIN! lol

I have been on many a bike tour that had one or more persons riding (Shotgun) in a sidecar....Just wanted to give you the chance to let your hair down and feel the wind blowing through it...

Maybe I'll have one shipped there just for the occasion!

Originally Posted by shotgunsusie

actually, i noticed a couple smirks on his face when mentioning whats yet to come so to speak. i dont know why everyone here got a negative vibe from it, i was actually thinking he was doin a good cheshire cat impression myself. i think the cat is damn near out of the bag.

That's kinda what I was thinkin'.

Originally Posted by shotgunsusie

hows this for a scenario... bush says NOTHIN about the economy in iraq. NOTHING good is coming out of iraq media wise concerning their progress over this mess. ALL the dems and naysayers of the world begin reveling in the negative vibrations and capitolizing on them.

THEN! TABLES TURN, REVALUED CURRENCY, VIOLENCE MELLOWS IN IRAQ BECAUSE PPL ARE CELEBRATING, FIL ALLOWS BIG BUSINESS INTO IRAQ BY THE HOARDS, OIL INVESTMENT COMES IN THE BIG PACKAGE AND BIG OIL BEGINS REFURBING THE OIL INDUSTRY OF IRAQ IN LEAPS AND BOUNDS, IRAQ CONTINUES MIRACULOUS RECOVERY, WORLD IS TAKEN BY SURPRISE!!!!

Man, I like the sound of that. Thanks Susie!!!

Originally Posted by boomcreek

Man, I like the sound of that. Thanks Susie!!!

thanks! youre welcome...

its all in how you look at it. and NO i dont have colored glasses on, lol.

Originally Posted by shotgunsusie

thanks! youre welcome...

its all in how you look at it. and NO i dont have colored glasses on, lol.

You're welcome Susie! I have enjoyed reading your posts from the beginning. My son lives in Anchorage. Plan on a trip there as soon as this happens.