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

Originally Posted by greatstuff

I'm sorry, I don't have time to find the article but I know there was a list of banks with an official relationship with CBI for the various countries. Bank of America was the one for the US, Royal Bank for Canada. I wish I'd bookmarked it. Anyway, that's why B of A has been the source for other banks and it would be enitirely up to them whether they deal direct with the public at any point (depending on their agreement with the CBI).

I remember that too. I'm sure they are all associated with the Trade Bank of Iraq if I recall. Besides BofA is handling all of Chases dinar supplies... don't worry about BofA, they smell the blood in the water just like all the rest of the sharks.

I found this off the USAID site and it gives a summary of the strategy for (2006-2008) for Iraq...

Here are the following topics included:
Local and Provincial Governance, Economic Growth and Agriculture,
Community Stabilization, and National Capacity Development...

http://www.usaid.gov/iraq/pdf/USAID_Strategy.pdf

Originally Posted by DinarDarling

Any problem with crossing the border to do that? I am in Washington and can see Victoria from my window. So you exchange it there, you then get Canadian and then you bring that back and then covert it to USD. Or can you exchange it into USD there?

I am not experienced at all with foreign currency.

In order to do what you are suggesting you would have to physically carry the cash across the border. I don't know what the US rules are but here is an excerpt from the Government of Canada website.

Cross Border Currency Reporting
Money laundering and terrorist financing are international problems. Money laundering in Canada alone is estimated to be in the billions of dollars. To help fight these criminal activities, the Government of Canada has introduced the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Under the new legislation, there are no restrictions on the amount of money that you can bring into or take out of Canada, nor is it illegal to do so. However, you now have to report to a customs officer amounts equal to or greater than CAN$10,000 that you are bringing into or taking out of Canada.
This new reporting requirement will assist the government in its efforts to:
• investigate and prosecute offences related to money laundering and terrorist financing;
• respond to the threat posed by organized crime; and
• fulfill international commitments to fight transnational crime.
For more information, please refer to:

Crossing the Border With $10,000 or More?


The link for the page where I found this is:

Cross Border Currency Reporting

Apparently you can do it, but there are forms that are required to be filled out, etc (read that as more gov't red tape) and the consequences of not following the rules involve fines and/or forfeiture.

Originally Posted by Cdn Scrooge

In order to do what you are suggesting you would have to physically carry the cash across the border. I don't know what the US rules are but here is an excerpt from the Government of Canada website.

Cross Border Currency Reporting
Money laundering and terrorist financing are international problems. Money laundering in Canada alone is estimated to be in the billions of dollars. To help fight these criminal activities, the Government of Canada has introduced the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Under the new legislation, there are no restrictions on the amount of money that you can bring into or take out of Canada, nor is it illegal to do so. However, you now have to report to a customs officer amounts equal to or greater than CAN$10,000 that you are bringing into or taking out of Canada.
This new reporting requirement will assist the government in its efforts to:
• investigate and prosecute offences related to money laundering and terrorist financing;
• respond to the threat posed by organized crime; and
• fulfill international commitments to fight transnational crime.
For more information, please refer to:

Crossing the Border With $10,000 or More?


The link for the page where I found this is:

Cross Border Currency Reporting

Apparently you can do it, but there are forms that are required to be filled out, etc (read that as more gov't red tape) and the consequences of not following the rules involve fines and/or forfeiture.

I PM'd DD and suggested she simply go to an American office of Custom House. The American head office for Custom House is in Seattle which is just a little southeast of Whidbey Island albeit the route is somewhat circuitous. However, there is absolutely no need for any border crossing with fistfuls of Dinars or Dollars.

Originally Posted by nventr

I PM'd DD and suggested she simply go to an American office of Custom House. The American head office for Custom House is in Seattle which is just a little southeast of Whidbey Island albeit the route is somewhat circuitous. However, there is absolutely no need for any border crossing with fistfuls of Dinars or Dollars.

Thanks nventr. As I too live in Washington state just southeast of Seattle, I called Custom House. But unfortunetly they do not deal with individual investors such as we. In the U.S. they only exchange at the corporate level. I will keep looking.

Originally Posted by DinarDarling

I have had an ongoing dialog with a vp of Private Banking at my local B of A. He stated that since this could quite possibly be a very volatile currency in the first 6 months, the U.S. could conceivably "appoint" ONE bank to handle it rather than several being able to get in on it. In other words, he wasn't really sure that B of A would want to handle it once it's a world currency. Posted this for what it's worth.

I don't believe this guy knows what he's saying
(1)there already has been several different banks selling, chase, capital one, hibernia,some boa, and more that i can't think of right now. But we have had people post about them going in and buy dinars at these banks.
(2) I can't see US appointing one bank to deal with dinars and make all the profits from everybody cashing in and not allow other banks to do the same thing,
(3) i don't see other main banks allowing 1 bank to gain all the customers that will be opening accounts with them when we go to cash in, and people buying cd's. etc.
(4)when the dinars get on the market the US already knows this is a stable money, it's been monitered, and already saying IQD has been STABLE.
I think your vp doesn't believe in the dinar and is giving his own negative perspective of the dinars.

Originally Posted by RetMil

Thanks nventr. As I too live in Washington state just southeast of Seattle, I called Custom House. But unfortunetly they do not deal with individual investors such as we. In the U.S. they only exchange at the corporate level. I will keep looking.

Thanks for checking. I looked them up and was going to go to the one in FL. Let us know what you find out.

Originally Posted by billknows

How could you have been misunderstood? You had previously stated that the banks aren't full of nice people trying to boost our self-esteem by offering a high reval!

You said the banks aren't selling dinars - their buying and they only have to peg at a level that will draw in the "suckers"... as you so clearly put it!

Then you said they could raise their .05 peg in tiny increments to flush out dinar holders that really needed the money. They could re-peg the dinar at any time to continue to buy-up dinar at the lowest possible price!

It's no small task to try and bring back the enthusiasm we all felt with Suzie and Adster's high reval predictions - when you take your years of banking experience combine it with your new found adoration from forum members and use that as a spring-board to achieve your ultimate goal - BURST THE BUBBLE OF HIGH REVAL BELIEVERS (under the pretext of just sharing opinions)!

I'm not saying it's impossible - but it will take time to get the excitement back that we all felt before you cleverly nuked us with THE LOW REVAL BOMB!

I suppose your indirect appologies may help - but so far they seem less than believable!

Personally, I remain highly optimistic!

I really don't believe he was trying to dash any dreams. The .05 was ONLY an example, as he explained. He is only trying to keep dialogue open and have all of us look at this from every angle. He is challenging us to an intelligent debate, that we are definatley capable of. What it revals at is anyones guess. We all hope for a high amount but at this point I think most of us would be happy with just about anything. IMO, he's being realistic by looking at all the possible angles. Not just the pretty ones.
I'm not trying to stir the pot, just wanted to say that we all have been posting our opinions and opening lines for debate, dreaming and hoping. We have hit many lows and have gotten our hopes up many times before. I really think the only thing that could really dash the hopes of this great group of people is news that Iraq was wiped off the face of the earth. The reval is going to happen. When? We can only guess. How much? We can only guess. Keeping all of us involved in intelligent debates, funny banter, news posts, which bank to go to, well wishes for our fellow members and the great friendships that are being developed is what helps the time pass until we can hit the beach!! We are all in this together until the end. I think patience is running thin and tempers have been flaring. Let's all stay on the same page and then we can duke it out at the reval party, if the urge is still there. Or just get really stupid drunk!! Thanks and sorry to sound like I'm preaching. Life is just too short!!

Neno is going to have a FIT when he comes on tonight if this crap starts again.....just to let you know!

Originally Posted by tiffany

Neno is going to have a FIT when he comes on tonight if this crap starts again.....just to let you know!

Yep! I can see it now, there is going to be alot of.......



(that's neno on the right)