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

Just read one of the banks out there is issuing 30000 Visa cards to it's customers. Unheard of in Iraq.

Okay that's really cool man. I can't wait to see if North Dakota get's in on the game. If they don't, well all just have to trade out of state lol

Cool Adam keep up the good work man. Love this thread so many positive thinkers here.


Jon

came across this on another form about dinars. was posted the 5th October2005. For what it is worth....

There are two Banks now selling the Dinar, one is
Compass Bank is a subsidiary of Compass Bancshares, Inc., a Southwestern financial holding company with $24.3 billion in assets and 355 full-service banking offices in Alabama, Arizona, Colorado, Florida, New Mexico and Texas.

I have confirmed that they are selling, they do not keep Dinars in stock but will order for you. You do need to have an account with them. Reasonable.

The other Bank is in Canada.

Bank of Nova Scotia (Scotiabank)The Canadian bank will also buy them back, but I don't know for what kind of a fee.

The Compass Bank is selling 1 million for $855.00 and the Canadian for $1,000.00 per million. As the Canadian dollar is only worth .85¢ to the US dollar that would be $855.00.

Their sell price is not really the issue, my question is, and this is where I MIGHT be the stupid one, WHY would any Bank be selling the Dinars right now? They certainly have other ways of acquiring funds without the small amount they are making.

end of post.

hi all
bank of nova scotia in canada is selling 1 million dinars for 910.00 canadian
dollars that equals to app 773.00 us dollars.
I ordered on friday and will get it by tuesday.

Baghdad Real Estate Market is Booming Despite Escalating Violence
RISMEDIA, 31 October 2005 (Knight Ridder Newspapers) -- A five-bedroom river-view house sold three years ago for $45,000. Two years ago it sold again, this time for $80,000. It sold a third time in August. The latest price tag? $300,000.

Lookes interesting;-)

No worries Jon. ;0)

Glad to see people are finally cottoning on to this investment.

shauncr,

These Dinar dealers have their own stash of millions of Dinars paid for by what they make from people like us so they win both ways.

As for why the banks are selling them, well, they're in it to make money and that they're doing plus once the peg happens and say your 100k of Dinars are worth say $10k and you go to exchange them for dollars at the bank that sold them to you the bank will then get the dollars back from the CBI and make more money in the process.

More and more banks will be selling/buying and exchanging them in the future, good news for all of us that hold Dinars.

As for prices, Freedinar sell a million for $860 which is very competitive plus you know they are a registered Company that have sold billions in the last 18 months.

Click on my homepage for more details.

Originally Posted by Offshore-Wealth.com

What question, do I have currency in hands, or in bank? Obvioulsy I have it in hand if you followed thread, and if I had a bank account in Iraq, I would have said so. I answered another that it would not be worth the hassle at this point, so that is my position, and with more and more western banks evidently involved, I would not open an account until there was a reason to, and there isn't one yet to my knowledge, so why did you open one?

Good luck to all, Mike

thanks mike,
I actually have 2 accounts in Iraq as I do not like having my money in one place (I do this stateside as well) and I have the Iraq account as a backup if they do a currency change in-country only by no means do I have all my dinars in the bank cash in hand as well and as I said I think it is GREAT that banks stateside are handling Dinar but am very leary of the facts that have been given me by my banker at NBK and Al Warka Bank. I am still trying to get info from Bank of Baghdad but no reply to e-mail as of yet
J.

Originally Posted by avid

thanks mike,
I actually have 2 accounts in Iraq as I do not like having my money in one place (I do this stateside as well) and I have the Iraq account as a backup if they do a currency change in-country only by no means do I have all my dinars in the bank cash in hand as well and as I said I think it is GREAT that banks stateside are handling Dinar but am very leary of the facts that have been given me by my banker at NBK and Al Warka Bank. I am still trying to get info from Bank of Baghdad but no reply to e-mail as of yet
J.

Thanks J,

Nice to know what others are doing and there strategies. I have numerous accounts around the world, and as I go to Qatar a few times a year, and their is an Iraqi branch there, I am sitting back and waiting. I looked at dinar as a long term gain more so than short, so I am in no hurry to cash out when peg is official as I know it will go higher and higher. When I look at real estate prices in Iraq, I simply sigh, oh what a relief it is. (g) As in most countries, where real estate goes, so does the rest of economy, and up up and away is the direction real estate is taking.

Good luck to all, Mike

Originally Posted by shauncr

If these Iraq Dinars are potentialy so valuable why are there so many websites selling them so cheaply ?

Why don't they just hang on to them themselves and cash in big style later ?

Interesting,

Like all business people, they are in it for the money, short term, mid and long term, and in my opinion, this is why you will see so many selling, as they can always buy again, sell, and over and over in the mean time building up their bankrolls. That is the whole point of FOREX market, buy low, sell high, and even at small percentages, money is made.

I know a friend who is in Military who combined with his family have six figures plus in dinar and are selling like crazy on eBay, and for more than OPMPUS is charging, so go figure. Of course, they are getting currency at the same rate OMPUS is, and I figure they are making more than OMPUS is as profits, so it is all about market demand, and obviously, the demand is very high at the moment and many dealers are already out of dinars.

Heck, I am selling some on eBay too, not because I am making much, but to introduce them and educating investors on how to purchase more, through our own affiliate program, and I sell millions every week on eBay, and every little bit I earn allows me to invest in more, so I am a big fan of selling for a little to gain even more when PEG is set.

Good luck to all, Mike