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

A call to establish a higher national council for economy
Negative phenomena have emerged during the past period
04/12/2006

Source: Translated by IRAQdirectory.com

Montasser Al-Amara, Chairman of the Iraqi parliamentarians Federation and member of the Economic Committee in the former National Assembly, called the government to: "establish a high national council of Iraqi economy", saying that: "the Council must have the highest decision in the Iraqi economic aspect, and must include specialized Iraqi experiences and competencies from all blocs, political movements and independents".

He added: "This project must be started as soon as possible, and must be accompanied with a center for strategic studies formed of specialists, technocrats, university professors and economic experts, whatever their views are, for the purpose of planning and counseling".

Al-Amara explained: "The deterioration of the Iraqi economy and the negative phenomena that have occurred in it is due to the lack of centralized economic decision and that Iraq lacks the healthy economic climate".

He pointed out: "that the Iraqi economy is dependent almost entirely on oil. This means that the economy has no clear methodology, but more than that, it depends on a chaotic one. It is not a free economy, not an oriented one or any other kind of economy which is the main reason for the economic problems, as well as being the reason why foreign investors did not enter Iraq and not the security status as claimed by the some, since many Iraqi regions are totally safe, but was not entered by foreign investors".

Al-Amara called: "that the council must include experts from the ministries concerned with this subject: Oil, Electricity, Industry and others, in order to be able to draw ambitious and strategic plans for developing the vital joints of life". He said: "The Iraqi economy has the expertise and competencies that qualifies it for the advancement, but what is lacking in this area is good governance and bold decisions".

He explained: "that those two points fall within the jurisdiction of the Supreme National Council of Iraqi Economy, which has a realistic and clear approach to run the economic resources, as well as being an important and active administrative center in making the economic decision".

Al-Amara stressed that: "the ideal policy to attract foreign capital to Iraq is to create motivations higher than the attractions found in other countries. The most important of these motivations is a stable economic policy, because foreign investors will not risk investing in Iraq if there is no stability in the Iraqi economy".


http://www.iraqdirectory.com/DisplayNews.aspx?id=2699

IMO this is why when it RV's it will peg to create stability in there currency making the economy stronger.

Dinar-Excited

Originally Posted by MOM2TWO

It is on the BofA's website that they have the same policy. I plan on spending a week going to every BofA in TX!!!!

That is probably only if you don't have an account.

Originally Posted by Elbert Brock

There is also another website called dinartrade.com I haven't used them
yet,but they do have up to date news on Iraq's economy.also the last time
I purchased 1 mil from safedinar.com,it came by fedex a little over 24 hours
later,much to my surprise and chagrin,didn't have the money order in hand
and had to rush over to the post office to get a money order for the
purchase.Has anyone tried them yet????

Hello Elbert,
I have used Safe Dinar three times. Very fast and professional.One order
I did not receive my Fed Ex e-mail so I called support # and had it in a second!
Great to work with.
papa02

Hi all, another late night update, just got in a while ago from Beaumont, Texas where I picked up my order of 1 million dinars. And ordered another $500,000.
I had ordered a mix of bills, but they all came in new 25,000 notes.
I did ask the teller if the dinars were coming from New York branch, she said probably Houston, looked at the paper work and said I guess they are coming form New York.
After I got my million dinar, and ordered another 500,000
I then said by the way, when I come to cash in do I have to wait for the authenticity of the dinars????????????She said NO!!!!!!!!
She said when you come in you hand them to us and we hand you back in us dollar amount right then
Don't forget I had just picked up 1 million dinars and ordered another 500,000
So I don't see we'll have any trouble getting our money from the banks
Although we'll probably be hit pretty hard by managers to get us to open accounts with them which I won't mind at all

Originally Posted by day dreamer

Hi all, another late night update, just got in a while ago from Beaumont, Texas where I picked up my order of 1 million dinars. And ordered another $500,000.
I had ordered a mix of bills, but they all came in new 25,000 notes.
I did ask the teller if the dinars were coming from New York branch, she said probably Houston, looked at the paper work and said I guess they are coming form New York.
After I got my million dinar, and ordered another 500,000
I then said by the way, when I come to cash in do I have to wait for the authenticity of the dinars????????????She said NO!!!!!!!!
She said when you come in you hand them to us and we hand you back in us dollar amount right then
Don't forget I had just picked up 1 million dinars and ordered another 500,000
So I don't see we'll have any trouble getting our money from the banks
Although we'll probably be hit pretty hard by managers to get us to open accounts with them which I won't mind at all

only way youll get around opening an account is if you get a cashiers check to take to the next bank, or have the funds credited to another account number.

Originally Posted by webinvestor

People are testy because many people hype about a RV tomorrow or the next day (for many good reasons) and when it doesn't happen they get very, very let down.

Personally, i'm not counting any chickens until they've hatched. I'm not thinking it's gonna RV tomorrow (or the next day) but if it does tomorrow, i'll be a happy camper then!

Yes we are one day closer but i'm not gonna hoot and holler about a RV until it happens.

You are taking a smart approach. One thing is people should never fall "too" in love with any investment. Detach yourself a little from it and remember we are in a vast minority of people that believe Iraq and IQD will greatly succeed. As far as the re-val it already is in progress. Back in August 23rd the IQD value was 1476 IQD to 1 USD. As of last night it was 1434 IQD to 1 USD. And most of that increase has happened over the past 3 weeks. We are good to go, people. So put your seat belts on and enjoy the train ride!!!!

Originally Posted by day dreamer

Hi all, another late night update, just got in a while ago from Beaumont, Texas where I picked up my order of 1 million dinars. And ordered another $500,000.
I had ordered a mix of bills, but they all came in new 25,000 notes.
I did ask the teller if the dinars were coming from New York branch, she said probably Houston, looked at the paper work and said I guess they are coming form New York.
After I got my million dinar, and ordered another 500,000
I then said by the way, when I come to cash in do I have to wait for the authenticity of the dinars????????????She said NO!!!!!!!!
She said when you come in you hand them to us and we hand you back in us dollar amount right then
Don't forget I had just picked up 1 million dinars and ordered another 500,000
So I don't see we'll have any trouble getting our money from the banks
Although we'll probably be hit pretty hard by managers to get us to open accounts with them which I won't mind at all

Originally Posted by shotgunsusie

only way youll get around opening an account is if you get a cashiers check to take to the next bank, or have the funds credited to another account number.

The teller gave you an answer on the current value to "cash" in. When you pick up your 1/2 million, ask them what is the maximum amount of cash they will give you on the spot. I believe it is usually 5-10,000. Plus remember all transactions of (I think) over $10,000 are reported to Homeland Security. I do not remember what the threshold that the IRS is reported at.

As Susie said, they might credit an account (or give you a check), but your not "cashing" out at that ampunt.

Dinarstars

Originally Posted by shotgunsusie

only way youll get around opening an account is if you get a cashiers check to take to the next bank, or have the funds credited to another account number.

Right I know i wouldn't walk out of a bank with 1 million dollars cash,
I'm just letting people know that all the worries of banks giving them trouble to cash in is non-sense, banks want to make money, and they will make money off of us as we cash in. And THEY WANT OUR MONEY TO MAKE THEM MONEY
Anybody with a business is in business to make money, AND banks are definately in to make money,
THEY'LL BE WATCHING FOR US TO COME IN AND ROLLING OUT THE RED CARPET
(always wanted to walk on one of those, i've watched the movie stars do it for years, now will be my turn)
And how this Chase bank said their won't be any waiting period to cash in.

OH BY THE WAY I DID TELL HER I WOULD BE OPENING AN ACCOUNT WITH THEM WHEN I DID COME IN TO CASH IN

Originally Posted by day dreamer

Hi all, another late night update, just got in a while ago from Beaumont, Texas where I picked up my order of 1 million dinars. And ordered another $500,000.
I had ordered a mix of bills, but they all came in new 25,000 notes.
I did ask the teller if the dinars were coming from New York branch, she said probably Houston, looked at the paper work and said I guess they are coming form New York.
After I got my million dinar, and ordered another 500,000
I then said by the way, when I come to cash in do I have to wait for the authenticity of the dinars????????????She said NO!!!!!!!!
She said when you come in you hand them to us and we hand you back in us dollar amount right then
Don't forget I had just picked up 1 million dinars and ordered another 500,000
So I don't see we'll have any trouble getting our money from the banks
Although we'll probably be hit pretty hard by managers to get us to open accounts with them which I won't mind at all

Note:this is my opinion below.

You have to remember that the banks that do foreign currency transactions are probably dealing is $500, $1,000, $2,000 amounts, ie... a person going on a trip to (you pick any country) Italy and needs (wants) that amount in Euro. No problem.

I have posted this before, when we cash in, it is my belief that very few local banks will have the authority (or clearance) to authenticate that amount of cash. You also have to remember this is an "exotic" curency, not many people will have the expertice by looking at the picture in their book to say 100% that it is authentic.

Banks have strict rules (internal and external (US Govt, IRS, Homeland Security) what each person at a bank can and can not do to limit their libility, ect. I don't even think a bank manager would be able to approve a 100k cash transaction.

Again, this is only my opinion. For all the people asking local bank tellers/managers these questions, are you making it clear to these people your talking about 6 and 7 figure amounts?

Dinarstars

When depositing over 10,000 cash a form is filled out for the IRS and also assuming Homeland security is notified. Depositing 9999.99 will NOT
necessarily slip by with no attention as it could be considered suspicous
if done on a regularly basis. It would be wise to hire an attorney and have
him hire a tax attorney (client privilege between the two attorneys not
you and a tax attorney. ME ? i am going to pay my taxes with a smile.