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

Originally Posted by Vipor

Might be just a coinkidink (coincidence), but my Citibank Onine site has shown the following at the top of the page for like the past 4 days or so. Been a member with Citibank for like 6 years and never seen that done. Like I said, perhaps just a coinkidink.

Hello Vipor,

I thought it has some revelance, on the money issue. This program was done in 2003 at the end of the year, by Jack Moore. To me I felt he had done his homework into all of this before this was ever broadcasted. I see what you are trying to say, and you are right to a point. But remember that they will never tell us this on regular TV. That has all of the sencership(oops). We watch it on what they call LINK TV, They do not have all of the regulations on them They are not owned by either of the Rep. or the Dem.. They are very up front of all of the issues that is out there.

Originally Posted by Dinar-Excited
Hi Everyone,

Did I miss something but I think it will be much high than 1345 by the end of the year. That would not be an RV that would just be fluctuation in auctions. I really think this will have to peg at $1 or better I really think higher. I know there was talk about .05 as just a discussion but I do not see that happening. I have been doing a lot of research on floating and pegging I am not claiming to be brilliant. But if they open with 1345 or .05 they are going to create bigger speculation than us little investors. I can't see it going on tthe international market at a low rate for a lot of reasons. I think if the Dinar keeps dropping and gets to 1345 there will be a frenzy on the Dinar they will shoot themselves in the foot in my opinion. With the rate dropping I believe we will see an RV soon. My best guess and it is only a guess is it could be any time between now and December 14th JMO. I also think they will peg the Dinar to create stability to the currency and piece of mind to investors.

Like I said this is just my opinion I am new to this world of economy and politics. But I look at things with logic and this is what seem the most logical to me.

RV AT A VERY GOOD RATE BEFORE THE END OF THE YEAR JMO!!!!!!!!

Dinar-Excited

QUOTE: Caviar Dreams

I don't claim to be an expert on this venture myself, but here is my take on the situation.

The dinar has been open and internationally tradeable since 15 Oct 2003. It has also been pegged to the U.S. dollar since that time. Iraq has just kept the value to an extremly low value to establish a stable currency through auctions at the CBI. You can see international trade by the CBI through dinar transfers to other countries abroad (shown on CBI exchange page).

So, the only thing we are looking for now is a revalue and possibly a change in peg/float to another currency, basket of currencies, or SDR. I think we are already seeing the revalue. Unfortunately it is extremley slow, but we may see the big leap we're looking for .

I think your correct to say that if the value keeps dropping so slow that there will be a "frenzy on the dinar". However, I don't think the magic number is 1345. What is the magic number...I'm not sure. We have been at or near 1460 for some time now, and you can see the current outcome of speculation. However, when the FIL is enacted the true Frenzy will begin! I do believe that they must revalue to at least the dinars pre-Iraqi Freedom War level of approx. 1 dinar=$.34 in order for the government to establish confidence in the economic rebuilding of their country.

Just my 2 dinars worth.

CD


Hi Caviar Dreams,

I see what you are trying to say I am not saying 1345 would be the magic number for major speculation it could be lower or higher. I would think in my opinion that if it starts going down consistently everyday you will see a major frenzy on the Dinar probably by smaller investors. If they put it on the Forex at .05 you will see major players buying up Dinar like crazy IMO. I only mentioned 1345 because that was what I was responding to other members last night were talking about the 1345 rate.

I know it has been tradeable through auctions and pegged to the Dollar I have been to CBI I have been doing research to. I know they have been stabilizing the Dinar through this process. My point is no one really knows how it will do on the Forex. Pegging it with a fixed rate with a margin of fluctuation will make it that much more desirable to an investor. I personally think when it goes on the Forex it will hold it's own. Kuwait has a pegged fixed exchange rate where their currency can not go lower than $3 but has a margin for the exchange rate to go higher and lower but never lower than $3. This is what I think Iraq will do I am not sure it will be $3 but they could always set an introductory rate of say $1.48 fixed with a margin for the exchange rate but never going under $1.48 and then re-peg it after they are fully recovered. This would make it even more stable for investors to go in knowing it would not go under $1.48. This would be good with the instability in security JMO.

Also I will not consider it an RV until it is traded on the Forex and I can go to a bank and cash it not just Chase that sometimes takes it. It has been a squashed rate since 2003 which indicates it has been pegged with very little margin to play with. What I believe we are seeing now is fluctuation in the auctions and preparation for an RV which in my opinion will be pegged high to fit in with neighboring Country's. I think it will probably be pegged to the Dollar and not a basket of currency just like the US did with Kuwait but having the margins for fluctuation on the exchange rate. Just as a note- Kuwait was pegged to a basket of currencys before the US went in.

This is just my opinion.

GEARING UP FOR THE RV!!!!!!!!

Dinar-Excited

Originally Posted by greatstuff

I was wrong about B of A being the one working with the TBI, it's Chase. So they may have some inside info or just lots of clues from that relationship. I wouldn't be surprised if it had nothing to do with that, though. It could be because of the "know your customer" laws. As more and more people have been exchanging dinars it has dawned on them that it could be trouble.

Also, they could be trying to get rich clients and not let them just walk away with their profits after the reval!

Actually Chase will loose a lot of bussiness with the move. I opened an account with them just two months ago because they were going to be dealing dinar. It seems rather strange that they would not want to have my money in their bank. I guess that I need to be looking for a more friendly bank at this point. If Chase is going to be this way I sure don't want to do any other banking with them.


I think that they made a bad discision on this, it really makes no sense to me.

Originally Posted by bubbajr

A while back, my husband and I are watching a program on TV. Right after we have invaded Iraq. In a segment of the program that they were talking about Iraq, and how they have a bank account in the US, and placed in 5 billion dollars in it. Also in that same show they were talking about Citibank on how it is owned, and that the Saudies have 20% ownership in that bank and the Iraqis have placed they money there.

We have really never heard anything about this at all.

anyone else here anything about this, or have an opinion on this?

Actually, the $5 Billion was placed in an account in the Federal Reserve Bank of New York.

Originally Posted by "GK"

That would be .00741. One decimal point to the right. Quite possible indeed. We'll just have to wait and see.

Could someone try the BofA website? I decided to look at it again and keep getting a connection refused. Maybe my side but I use this site daily.

TIA.

OSOK

Originally Posted by Texas_Tea
BREAKING NEWS I called the chase bank located at the corner of 79 and IH 35 and they are still selling and you do not need an account. The amount to buy 1 million iraq dinars is $7641.00 I told her to verify amount and she says this is what her computer is telling her. I asked how much is it if wanted to sell and she asked me how many did i want to sell and i told herthen she put me on hold and comes back and says she cannot reveal information unless I open account. To verify I spoke to a lady by the name of heather and phone number is 512-244-8550. I think we are real close guys!!!!!


i called the bank and its $764.10 you moved the decmial over one u got me excited though that for sure

Originally Posted by mike brown

is it $10,000 in usd that is the limit, or just any currency with a value of $10,000 usd or more?

Hi Mike Brown,

It would be bad as if they create a lot more speculation and by really big investors at a low rate they will have to pay out a lot when it meets it true value which in my opinion will be $3 dollar range. So if you do the math on that it is a lot to pay out. Than opening higher now to curve the interest. We as investors right now are big but not nearly as big as if they open at .05 and you have Bill Gates go in there and buy several billions worth.

Dinar-Excited

Hi All,

Just called at 1:22 EST and spoke to an assistant manager and yes the original rate was the tellers misquote and the manager has been getting lots of calls.
They are selling dinar:
1 M dinars for 764.10 USD.

Wouldnt it have been nice!

Great to have had the telephone number to confirm ... Thanks.

Back to a regular Saturday but still looking forward to tomorrows auction to see how things are evoling...

Originally Posted by Dinar-Excited

Hi Mike Brown,

It would be bad as if they create a lot more speculation and by really big investors at a low rate they will have to pay out a lot when it meets it true value which in my opinion will be $3 dollar range. So if you do the math on that it is a lot to pay out. Than opening higher now to curve the interest. We as investors right now are big but not nearly as big as if they open at .05 and you have Bill Gates go in there and buy several billions worth.

Dinar-Excited

But if it is true that the cbi is not selling anymore dinars, then what is already out there is out there. So it would not matter if the big guys want to buy dinar, they can only buy what has already been bought and then of course sold by those investors that sell to them. I think Mr. Knowles has a very good point that the cbi may just want to at first reval at a low rate to get those investors to sell it back to them and then reval again higher. It's a good thought I think. I think that it is no doubt that they will have a reval that places the dinar close or the same as the dollar for the sake of kick starting the economy, but when and how they get there will be exciting to watch. I just hope they do quick, cause my poor heart can only take so much of this.
CLM

Looks like a lot of the On-Line dealers are running out of Notes, even the 25K notes. I guess, with the CBI sweeping the streets for IQD that the Notes out there will cost more to buy, if you can find them?