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

I had to bump this for old times sake. It is the thread that got most of us here!

Do you think he will make an exception in this case. Ha Ha

Originally Posted by choochie

Adster,
I haven't ordered from them, but you are right, they are very similar to freedinar.

No connection, and I have not heard of them until now, so where have they been hiding stating on their site they have sold billions? A lot of scam dealers out there, so be careful, especially at this time as even SafeDinar has statement that they can pull back order at any time before it is in your hands.

Good luck to all, Mike

Originally Posted by choochie

Just remember, you have to do it on the "crazy thread" as not to upset Raditz.

Easy on Raditz. But when this thing does peg we will have to control Raditz too. remeber he is on the edge of his chair as well.

Originally Posted by Offshore-Wealth.com

No connection, and I have not heard of them until now, so where have they been hiding stating on their site they have sold billions? A lot of scam dealers out there, so be careful, especially at this time as even SafeDinar has statement that they can pull back order at any time before it is in your hands.

Good luck to all, Mike

Yes please safedinar has this staement as well. They have of late redesigned thier site with more news and copies of their Treasury License. And other documents. I figured they done this all of the sudden for a reason. Reason I dont know exaclly. But it is there and for a reason. As well of a statement saying they are buying directly from CBI.

Mike, I believe that statement is incase it pegged all of the sudden. And they would lose considerablly. They are who I use and call them direct. I remember when I started with them I was so excited I ask the guy garrett if it pegged before I got them in the mail would I still get them. He said yes you would. But now it is stated differentlly. To me this means it is fixen to happen. My heart is thumpimg like the rest of us.

2003 Recommendations
Well let's look at the point by point recommendations from the Workshop on Iraq after the War – Issues of Economic and Social Reconstruction
UN House, Beirut, 9-11 July 2003:

III. Monetary and Banking Issues
The present state of affairs described in our introduction is very detrimental to the Iraqi society. Iraq is in bad need of monetary and financial stability. However, without an internationally recognized government it will be difficult to create a new monetary and banking system.We can outline here some of the issues that Iraq will face to establish a sound and
dynamic monetary and banking system.

1. We would advise that the new system should not be based on a dual currency system like in Lebanon or Argentina, with the dollar and the Iraqi dinar being both used as legal tender. This is distorting the economy and encouraging speculation against the domestic currency. Given the flow of oil resources, the Iraqi dinar should be reinstated as a strong currency and we would advise to create a new “heavy” dinar which rate should be around 15 dinars to one dollar.

2. No fixed rate of the dollar to the dinar should be adopted, but the value of the dinar should be floating so that the Iraqi economy would adjust freely to developments in the value of its domestic currency. It would not be wise to have the Central bank to use its scarce foreign exchange reserves to defend a fixed rate of the currency.

3. As mentioned in our previous presentation we strongly favor a free exchange market with no controls on the movements of funds.

4. If the independence of the Central bank is a highly desirable aim, such
independence should not be conducive to deflationary policies that might prevent economic growth and dynamism as has happened in various countries.

5. For some years to come Iraq will face a difficult period of adjustment and its foreign exchange needs will be quite substantial. To face this challenge, the monetary and banking system should not be a burden on the Iraqi economy as has been the case in Lebanon and Argentina.

• Such system should encourage productive activities and a diversification of
exports outside the traditional oil and petrochemical sector. Iraqi water
resources should be well exploited to develop agriculture and agribusiness.

• The banking sector should be oriented towards financing productive activities and not only trade and real estate transactions. Inspiration could be found in South East Asian experiences on how to stimulate the local productive capacity and export oriented industries.

• Micro-credits should be made available to the poor strata of the population and capital venture funds to professionals that would like to create new productive capacity in the country based on their own knowledge and capacity.

6. A new banking law should be adopted as soon as legal conditions will allow it and training of Central bank officials for banking supervision should begin as soon as possible. Foreign banks should be allowed to create branches or affiliates in Iraq.


Where are we at now...

- Iraq already has an internationally recognized govt -- this is done!

- Iraq has one unified currency, all payments for goods and services are now in IQD -- another done deal!

- 15:1 heavy dinar not yet implemented

- Iraqi dinar exhange rate is still on a managed float

- Iraq has advocated a free market economy

- The CBI is independent

- Iraq is reinvigorating both oil and non-oil sectors

- Iraq's banking sector are now tied with other international banking entities, some banks in Iraq are now partly owned by foreign banks

- Micro credit lending is now being utilized in Iraq


Well folks seems like all the recommendations from this workshop have been implemented like clockwork. There are only two remaining: 15:1 heavy dinar and to release the dinar to the forex using a floating exchange regime.

We shall soon see....

Originally Posted by choochie

I had to bump this for old times sake. It is the thread that got most of us here!

\\

Bless ya, yup this is how it all started!! Best give it the respect it is due by posting some good news from someone on another forum....


M&I Bank selling and buying dinar
Hi everyone, I finally am able to post some good news, then again maybe you informed folks already know this. Marshall & Ilsley Bank out of Milwaukee Wisc. is selling and exchanging dinar. I followed up on a rumor about a month ago and found a branch bank about a mile from my home here in Minnesota. Their rates are 1352IQD/1USD, when asked about the exchange rates they said it would depend on the day I wanted to exchange them. I already had dinar before I went to see them so I did not purchase any. I told a friend about it and he purchased some thru the bank, it took about ten days to receive them. When I first went in to talk to them they had no idea the bank was even dealing with the dinar until they called their exchange service. The exchange co. also told the bank officer they saw no problem in the the forseeable future with exchanging the dinar. I currently have an account with USbank and they are not exchanging them yet. As far as I know this is the only bank doing this at this time. Hope this makes someones day out there

Define "Heavy Dinar" please?

:-)
Tiff

Originally Posted by Adster

\\

Bless ya, yup this is how it all started!! Best give it the respect it is due by posting some good news from someone on another forum....


M&I Bank selling and buying dinar
Hi everyone, I finally am able to post some good news, then again maybe you informed folks already know this. Marshall & Ilsley Bank out of Milwaukee Wisc. is selling and exchanging dinar. I followed up on a rumor about a month ago and found a branch bank about a mile from my home here in Minnesota. Their rates are 1352IQD/1USD, when asked about the exchange rates they said it would depend on the day I wanted to exchange them. I already had dinar before I went to see them so I did not purchase any. I told a friend about it and he purchased some thru the bank, it took about ten days to receive them. When I first went in to talk to them they had no idea the bank was even dealing with the dinar until they called their exchange service. The exchange co. also told the bank officer they saw no problem in the the forseeable future with exchanging the dinar. I currently have an account with USbank and they are not exchanging them yet. As far as I know this is the only bank doing this at this time. Hope this makes someones day out there

Adster I know I am not busting anyones bubble here. But my banker from Wachovia has told me that they will exchange too. In the beginng they said they dont and I would have to go to the airport for that to be done. But I was in the bank a couple weeks ago before our trip out of town and the banker came upto me and said you know what we do too. Might be a couple days from this branch to get it done but we do do it.