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

Originally Posted by Mike

Please considering reading it completely, before you respond. Yes, maybe the snapshot on that site if not updated may not be accurate, however, if you had read, you would have seen that some things are accurate.

For example, the common myth of comapring Iraq to Kuwait is dispelled there. Comparing Iraq and Kuwait is like comparing apples and oranges. Many people buy dinar baced on the fact that after the war Kuwait went up in currency. That comparison is wrong.

Another example. Having oil doesn't mean anything without stability. Compare to Venezeula for example.

Another example. Some people buy based on prewar prices, however, those prices were set and the dinar wasn't freely traded.

Iraq is in debt.

Also Mike, get your facts straight. The article may be old, but isn't 2 years old. And 50+% of the things stated there are still applying today.


You mentioned this:
"Sorry to disagree, but nothing written two years ago is valid today in Iraq"
There are thousands of things written 2 years ago that still apply.

The base context of this site is old news, period. If you are referring to the links of general interest added at bottom to make it appear the actual data is current, then you are not seeing it clearly.

If you read it again, you will see the main highlights of site are what I was referring to, as example, the below excerpt is from July 2005. If you didn't bother to read link, click on it to see date of article.

A Snapshot of Iraq Today

• The current situation in Iraq is pretty grim:
  
  • Over a decade of international economic sanctions and a devastating war has left the infrastructure in tatters
  • $125 billion of external debt
  • Millions of dollars in post-war debt
  • No stable government
  • Insurgency steadily on the rise
  • Oil facilities and pipelines are sabotaged regularly
  • Many (including the former Prime Minister of Iraq) predict out-and-out civil war
  These aren't the kind of conditions typically conducive to the creation of booming economies. More to the point -- a 450,000% increase in the value of the IQD (as predicted by some of its promoters) seems ridiculous in the face of these challenges.
  
  As anyone can clearly see, this is a very misleading site which leads one to believe what is written above is current, and if you took the time to hit link, it is not even close to current, therefor, invalid. Or would you say current valid data on Iraq is ridiculous? If you seriously don't see that this is a BS outdated anti Iraq site, I won't waste time debating it with you.
  
  Good luck to all, Mike

Originally Posted by Mike

Agree with you to an extent, but almsot anyone can register with the treasury, but it does not mean they are approved to take money out of Iraq or even that they are a creditable company; it simply means they are registered / made themselves known. Also many sites out there tend to be frauds and even though they state this, it isn't accurate.

I had a question for you, some sites have been saying that exporting dinar otuside Iraq is illegal according to iraqi law, do you have info on this?

If you have a criminal or civil conviction record, forget it, they do check you out, why do you think they are asking for SS# for, they run a background check on you, so I disagree, not just anyone can be a registered money dealer. If anyone is claiming they are, and they are not, this is fraud with stiff penalties. Sure, it is easy to complete the application, but don't think you can do it if you are a known scammer, so there is protection offered under U.S. Treasury registration.

As to Iraqi law, I don't know where you read this, but it had to be Saddam law, for if it was illegal, then half of the military would be under arrest. (g)
In addition, there are banks in Kuwait, Quatar, Saudi Arabia and UE which anyone can exchange dollars for Iraqi dinars, so are these too breaking the law?

Good luck to all, Mike

Wow, a man goes off to earn an honest crust, comes home and there are 5 pages on this, lol.

I feel reading the above that we do have to keep this in perspective. Nothing is guaranteed, if Iraq came out and said it will peg 28 May then the country would be bought out of dinar. Not going to happen. This is a speculative investment that noone should have invested money into it that they couldn't afford to lose, that's period and well known for any investment out there. I really don't want people out there to be devastated IF it doesn't hit next week, (not that I'm saying it won't).

I don't have a magic wand and can't look into the future but the info on here is as up to date as possible, the news is real, you switch on the tv or radio and it's all Iraq, the good news that is happening there.

The rumours that have been posted are rumours, noone knows for sure. Yes they are from highly respected sources but it doesn't mean it will definitely happen.

My own thoughts are that IF (and that is an IF) it doesn't reval next week, then I will stick with my original thoughts of the end of June.

IT WILL HAPPEN FOLKS.

Originally Posted by karinc

I emailed my dealer to buy more, and asked him about a few things. He said the imminent peg was ONLY a rumour...so now I don't know what to think!
I have taken a loan (together with my boyfriend) to buy dinars... Yes, we CAN afford it even if something goes wrong (as we have the same cost now for another loan that we will pay off with the new one) but still... THis is DIFFICULT!
Because now I HAVE the money...and I would just kick myself yellow and blue if it pegged and I didn't use it! But on the other hand...we WILL have a "largish" loan...
And I have been reading over at the iraqi investors' forum...and there the people seem to be divided into two different camps...one thinking like Adster, the other one thinking the dinar is - and will stay - worthless...
Please help!
Anything you can tell me (more rumours, more facts, opinions, thoughts...) that can help me decide will help me!

Regards,
Karin

Interesting,

Anyone who would state that Iraqi dinar is worthless, and always will be is brain dead. There is no possible way, even if civil war broke out, that the dinar will remain worthless. There will always be naysayers, and the ones selling dinar will have there opinion, but I read it all, and there is not one thing I have found which would cause dinar to be devalued. It is virtually impossible for this to happen under any circumstances. We are seeing a very unique situation here, but with oil double what it was when currency was worth $3.00 plus, it just does not make sense to see Iraq worse off now than under Saddam, never mind the massive fraud and corruption under his regime.

Good luck to all, Mike

so mike....with rolclub....which do u believe is a worse risk....investing in the dinars.....with a chance of peg...anyhow its not 100% guaranteed....or in pips....still waiting 15 months...at least thats how long i have been waiting ...and still nothing from Bryan....i have been listening to everyone and i think including u...i might b mistaken here....trying to convince everyone who wants to listen that Bryan was brought down by people wanting his demise....point being.....u don
't have to invest in Iraqi dinars.....as we did'nt have to invest in pips....but for my money's worth...i'll take the dinars.....and just like with pips...rumors will and are flying about...IMHO....Pat

Originally Posted by Mike

Well put ;) Just wanted people to realize that nothing is 100% guaranteed :)

Agreed, fortunately I've never stated that and wouldn't do. I have no doubt that those holding dinar are in a stronger position than those that aren't.

I'm still 9 out of 10 for confidence, a 10 out of 10 would be a guarantee in writing from the head of the CBI! The rumours of the below date still stand, just scanned the forums.

Originally Posted by Adster

I'm still 9 out of 10 for confidence, a 10 out of 10 would be a guarantee in writing from the head of the CBI! The rumours of the below date still stand, just scanned the forums.

Wouldn't that be a kicker! A letter from the head of the CBI!

Sheesh! Woke up from a nap with the kiddies and look what happened! lol!

Yes, true, nothing is 100% guaranteed til it happens. ;-)

But I have ONE question for you MIKE (ROL Programmer)...

Where have you been for the last 6 - 10 months? The first time you have ever posted in the Dinar folder was May 20th. If you've had all of this 'knowlege' about the dinar, you should have WARNED US back in October and January when these threads actually began!!! Or even a couple YEARS ago when the documents behind some of your links were written, so that it would have applied to your argument a titch better! ;-)

If one begins at the VERY beginning of these EXTREMELY LONG threads and reads through to the current posts of today, they will read the ups and downs and the false hopes of certain things happening over in Iraq to 'speed things up' with the dinar 'investment'.

They will also read posts by Adster and Offshore-Wealth that outlined EXACTLY WHAT needed to transpire in order for this 'Dinar Deal' to work and the sequence in which it would happen.

So far they both have been right on target! ;-)

The Iraqi dinar HAS to be able to 'keep up' with the world or they may as well have just kept things the way they were in their country!

I don't know if you are thinking of the dinars as a HYIP-type 'game' and you are trying to protect us, but this is real currency, world finance, and war. It is VERY REAL!

I don't wish to have a debate with you, I am not a cheerleader...I've just done my homework like many of us and see the GREAT potential here as it was after the Gulf War.

Kind Regards,
Tiffany :-)

P.S. If I am off base about anything I have written, Adster or OS-W, please correct me! ;-)

Originally Posted by Mike

You put one paragraph / one section from the site and based on that you are discrediting the whole site. I already agreed with you about the snapshot portion being out dated, but the rest STILL applies today...

I was never referring to the links, but rather to the other content.

Please discredit the other sectiosn or try to ...

As per my previous post :

For example, the common myth of comapring Iraq to Kuwait is dispelled there. Comparing Iraq and Kuwait is like comparing apples and oranges. Many people buy dinar baced on the fact that after the war Kuwait went up in currency. That comparison is wrong.

Another example. Having oil doesn't mean anything without stability. Compare to Venezeula for example.

Another example. Some people buy based on prewar prices, however, those prices were set and the dinar wasn't freely traded.

Iraq is in debt.

"Or would you say current valid data on Iraq is ridiculous? If you seriously don't see that this is a BS outdated anti Iraq site, I won't waste time debating it with you."
- Never said that that current data is ridiculous so don't put words in my mouth. If you cared ot read my enire post you would see that I was referring to the other portiosn except the snapshot. If you fail to see that other portions still apply, I won't waste time debating it with you.

Simple,

Who said Kuwait is same as Iraq? It was similar in many ways, but not the same since the drop in currency value of Kuwaiti dinar was caused by Saddam's invasion. When all oil wells were burning, I heard the same naysayers then as I hear now, so this is exactly the same between the two. Everyone was saying Kuwait dinar was worthless with no oil to pump, but as you may recall, oil wells were capped and fires snufffed out. So I invested then just as I am now, but I am less skeptical and am invested far more in Iraq than I did in Kuwaiti dinar. I have two associates who invested more than I did and are millioniares now, so if we were to make comparisons, you could find many more similarities than you will disimilararities. Is it apples to oranges, no, it is mcintosh to delicious, and oranges to tangerines, same family, but different. LOL

Having oil means everthing, even with no stability, for whoever is in power will make sure the oil flows, just as it was when Saddam was in power, so don't tell me that oil means nothing, it always has value, either pumped or in reserves, so please, don't even go there, this is total BS on this site and just one of the reasons it is useless and invalid. As to comparing to Venezeula, oil means everything to them as well, just ask Chavez, after all, he is trying to obtain control of oil under gov. operations, just as Putin is doing in Russia when he seized Yukos under a bogus tax fraud charge against owners.

As to prewar values, Saddam was corrupt, he actually printed money for himself, so technically, even at higher preway prices, with so much governement fraud and corruption, the value should have been set even higher for it would have been worth more without the corrupt government issues. Makes you wonder what dinar will be worth in the future, without fraud and corruption. Should be worth even more in time.

As to Iraq is in debt issue? As I indicated in highlighting the reference to $125B debt article, where have you been? If you took the time to read through this entire thread, you would have seen dozens of posts on announcements of reduced debts from a dozen major countries adding up to billions of dollars. At this point, it adds up to about 89% of that $125B debt is currently erased, gone, poof. Talk about being in a powerful economic position, imagine how strong the economy would be in US with nearly zero debt? Think of Iraq as a new company with billions in reserves, almost zero debt, open lines of credit from a dozen countries, oil prices going through the roof, and under a new democracy with freedom for first time, sounds like a solid investment to me.

OK, are you seeing the picture yet, or are you going to defend that BS site as if you wrote it. Every single excerpt is invalid, so go ahead, defend it, I don't really care. You come storming into this forum as if you know what the heck you are talking about when all you did was post an old outdated site, and then you want to argue over it. What is your point with this debate? You need to learn the facts, then come in here and debate what is current, not what is ancient history. Not one of the points is valid on site, and only a few had any merit to begin with. (g) OK, I admit it, I am discrediting the whole site while you are trying to defend the whole site, so we disagree, so you want to continue trying to say this is a valid site?

Good luck to all, Mike

Maybe it's his personal blog and he stuck the link on here to get clicks! ;-)