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

Quick update. I walked into Chase bank today in Illinois and purchased dinar. I can pick them up Monday. Great rate, and also recieved some good info as far as exchange procedures as well.
This is what the banker told me would happen come exchange day;

1- I set my stack of dinar down on his desk.
2- They fill out the forms, which is a deposit, with a receipt showing how much dinar I am sending, and what the rate is for that day, and that they are to be converted to USD.
3- They get sent for verification, and when they are verified, my account will show the balance in USD.
4 - He also told me that Chase does not charge a fee for exchange. He said 1million dinar at a 1:1 exchange will show 1 million USD once it is verified.
Good day.

Thanks to my friends, I have purchased some IQD! Thanks!

Originally Posted by shotgunsusie

this flag game ... am i missing something here ?? Adster you change your country flag and we guess what it is ??

There is not much guess work as if you run your curser over it the name pops up, maybe the game is to see it first ??

eeeek ......this is H20_Lover typen on SGS handle that is signed into my computer ..sorry folks

Originally Posted by RICHIWILLBE

LOL That made my day! I would have never thought to do that! I guess I don't have to be smart to be rich! (Just glad I was smart enough to buy Dinar!!!)

Thanks again, my friends!

IMR: Extras: Audio/Video: Hawaiian Roller Coaster Ride

Not having any fun today, help someone that needs help, that is the best fun you will ever have!

Originally Posted by arpking

3- They get sent for verification, and when they are verified, my account will show the balance in USD.
4 - He also told me that Chase does not charge a fee for exchange. He said 1million dinar at a 1:1 exchange will show 1 million USD once it is verified.
Good day.

The manager at our branch said that the minute we exchange our dinar it will be automatically credited to our account at the time of the exchange. I guess we will have to wait to find out which branch is correct.

Originally Posted by boomcreek

Looks like we are still a way off for the investment law to become law.

I had an Arabic translator read the Arabic version of the investment law and the law requires that the GOI form a National Investment Committee which must be approved by Parliament and ratified by the President, no time limit is specified for this action.
I believe the report said it was "ratified" by the President. If what you say is correct, then the committee was already formed. It would have had to be in order for the President to ratify it. Right?

I thought it was said maybe back in Oct htat said they was sitting up a group of people to do this already...sorry no link but Im sure I read that here..

Originally Posted by Wm.Knowles

Thank you for your interest. When will the CBIs policy of not selling dinar effect the supply in the US. That will depend on how much Chase had on hand when this started. Also, we might not like to think about it, but there are people who will have sold their dinar. They (I know 2) may find themselves overextended, maybe broke. These individuals will probably not come up on rolclub and announce this. So it is reasonable that Chase is not only selling dinar, but they have bought it also. They will in turn have made a spread and will have dinar to sell to others. Old eceonomic law, behavior changes at different price levels. So some will/have sold cheaply. Thank You

I can confirm this. On Thursday, as I was ordering a few more NID, the teller was telling me that she has not had much purchasing lately, She said the past few days she has only had one lady come in and it was to "sell' some NID back to the bank. She looked puzzled as to why someone would be "selling" it back to the bank at this time. Sounded odd to me too. Anyways, take it for what it's worth.

BTW, when I picked up my NID on Friday, it was in 25K's.

Translated version of http://www.almadapaper.com/paper.php?source=akbar&mlf=interpage&sid=11162

"we go watch the escalating price of the Iraqi dinar against the dollar" from the site above!

Recovering from the grandchildren's visit, but then I was truly blessed again!

Originally Posted by crave681

wow moto, nice one! someone has some time on their hands?

I leave shortly to see two grandsons and I will be More than Blessed again! Time with your family, ROL or "Blood" is good, have fun, does not matter what you do, just help somebody over the dry spells and over some of life's bumps! If you are homebound and cannot get out to help; get on the phone, call someone and pray! Life is short and if you have read this, another minute has passed; be a blessing, encourage others, try and smile and always give the Lord the Praise!

I am sure that after this baby RV's, we will remember those that are fortunate to be helped by you and me! Lets be more then a blessing to others!

IMR: Extras: Audio/Video: Hawaiian Roller Coaster Ride

Originally Posted by motomachi

Second RV Party, Big Island, Kona District!

GoHawaii - Hawaii's Big Island - Family Fun

IMR: Extras: Audio/Video: Hawaiian Roller Coaster Ride

RV

You should host the THIRD RV PARTY at the Cheetah III and the Cheetah Elite in Atlanta!! WOOOOOOOOT!!!! I know them well.

I lived in Hawaii for a couple of years a while ago and I loved it, but......
My next permanent destination after the RV is Belize

Originally Posted by arpking

Quick update. I walked into Chase bank today in Illinois and purchased dinar. I can pick them up Monday. Great rate, and also recieved some good info as far as exchange procedures as well.
This is what the banker told me would happen come exchange day;

1- I set my stack of dinar down on his desk.
2- They fill out the forms, which is a deposit, with a receipt showing how much dinar I am sending, and what the rate is for that day, and that they are to be converted to USD.
3- They get sent for verification, and when they are verified, my account will show the balance in USD.
4 - He also told me that Chase does not charge a fee for exchange. He said 1million dinar at a 1:1 exchange will show 1 million USD once it is verified.
Good day.

Forget about STEP 3...don't let those stinky little buggars leave your sight for a nano-second...

Originally Posted by Mike5200

SGS- what do you make of Bigslick116 post in the rumor section ?

Quote:
Originally Posted by Bigslick116
Hello everyone, I just got third hand information that Iraq just opened up the dinar on the world market at .14 cents. This came from a contact in the green zone. I hope to god this is true just like all of you so lets wait and see. I know this sounds flaky but it's all I got right know.


Just got a call back and was told that this has been the central bank of Iraq's plan for a while now but hasn't been the #1 goal on their agenda until after the international compact for Iraq held by Kuwait on the 31st of October. Thats when things really started to come together as we have seen.

First: They would take out as much currency in circulation as possible (which they have)

Second: Iraq would have to pass/ratify/implement FIL & HCL.

Third: Iraq would need to be completely debt free

fourth: Come to some sort of agreement with the Kurds

Since Iraq has completed these steps and has full support from the World Bank, Paris club, IMF, etc. They now are required to follow suit with a revaluation of their currency

Word from the ground right now is that all their paperwork and such is in it's final stages and there is a bit of a buzz around Iraq as well. (hope some one can also confirm) I should have a little more information later in the day so I will pass it on as it comes.
__________________

I'm hoping his rumor is correct but they got the rate wrong. instead of .14 it will be 1.40 sumone messed up on the decimal point when letting the cat out of the bag..lol lets hope