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

http://story.irishsun.com/p.x/ct/9/i...771c7290844e9/

Originally Posted by Adster

Marek,

There are those some of which are based in Iraq, Kuwait, Saudi etc that have opened accounts with Warka, Dar Es Salaam and other banks just in case if a r/v happens then it might be kept within Iraq and not open to the rest of the world.

This is highly unlikely, in order for Iraq to be a 'player' on the world stage and move forward they have to trade internationally with the big boys like Japan, US etc so they need a convertible r/v worldwide.

There is no doubt in my mind that it will come onto the world markets, it has too, Bush has put too much into the country for it to not have any impact for the US. They have forgiven $115 billion already with more to come. Oil is the key, oil=money and lots of it.

I've thought long and hard about this and am happy to have my Dinars 'physically' rather than in an Iraqi bank whom with all due respect could 'lose' my Dinars. Plus there is also the chance of the bank being blown up. Will you see your Dinars then? Don't think so.

So to answer your question Marek I won't be transferring my Dinars to an Iraqi bank. When this baby hits internationally onto the world stage it will be exchangeable in western banks.

Just a point on that. There was a half page ad in USA Today from a bank in Houston, Texas advertising the Dinars and selling them.

Now would they really be doing this if they didn't know something was on the horizon? :0)

Just found this too, very interesting.

http://www.iraqupdates.com/p_articles.php/article/4002

This could be the beginning of something big! Remove all restrictions on the IQD to allow and promote international trade. I guess we'll find out soon.

Adster.

Excellent post,

Yes, for those who are making money based on scare tactics of opening bank account in Iraq, instead of holding currency as we are doing, Adster is right, we are looking at a total transformation in Iraq, from a closed controlled economy to an open one, and all the indicators point to this, so why would anyone want to open an account in Iraq, for what reason? There would be plenty of time to exchange currency if the fear of this was real as these scare mongers would lead us to believe. Remember, the only place you are reading about this is from a couple people selling $19.95 information ebooks, so what is their focus, making money on scare tactics, and believe me, one I know is making thousands every week, so take it from there. With HSBC purchasing majority in Iraq bank, you can bet on the fact they will be offering exchange of Iraq dinar all over the world almost immediately, so open an account with HSBC, not Warka.

Good luck to all, Mike

Nice one Mike,

Hope this answers Marek's question and anyone else wondering the same thing.

Okay a simple one guys. I bet you have gone bored of this question, but what if they change the currency in Iraq not now, but before the rise witch might be a few years even?

Or what if the Rise comes in Dinar, and they don’t change the currency? As today for 20000 Dinars you probably just get to buy some milk and sugar and there goes the 20000, but what happens when you really get something for your dinar.


What i still don’t understand is, if they don’t change the physical bank note to something lesser when dinar will have a raise, we coulden’t “fly around” in iraq with 20000 bills right? for that sum we got some milk and sugar a day ago, and next day when the rise comes, we can buy cars with it?

I hope you see what my point is.
In the e.g above of the figure 20000 dianrs for milk and sugar today, i have made it out of thin air to ask a question, and nothing else.

Regards
marek

Marek,

When the r/v happens or even before a r/v happens the notes will be exchangeable in banks around the world. There are a couple in the US that are already doing this, as well as selling them. Then the bigger notes will be phased out like the 25k notes and possibly the 10k notes and replaced by smaller denominations. But by this time you'll have made your money.

Don't worry, this is a common question. Even if they replaced the notes with a new batch of notes we'd be able to exchange our ones for new ones but I don't see this happening with the billions spent on the current ones which have all the security features and have only been around 2 years. Iraq also have to show to the world that they have confidence in their own currency and by changing their notes completely will make them look insecure and vulnerable.

Ok, here's really good news.

http://www.harolddoan.com/modules.ph...ticle&sid=7084

There may well also be good news from the IMF in the next day or so regarding the Standby Agreement.

Best hop on board people, the train is getting faster and soon it could be too fast to jump on.

More debt forgiven, this time by Japan, they will forgive 30% upon signing of notes by both governments. The next 30 percent will be cancelled once the Iraqi government argees to an International Monetary Fund program for lending, debt relief and budget structuring.


http://www.upi.com/SecurityTerrorism...8-074514-9750r

I agree,

The reason NEW currency was introduced in 2003 was obvious, and that was to remove Saddam's mug on every note. (g) If you do some research on Iraq and history, you will see that the current notes depict historic pictures, so none are so bold as to have the mugs of new constitutional leaders, nor can I forsee an ego issue like Saddam presented. Egads, there were statues and billboards on every corner with this killers image, and for good reason, he was a fear monger as well as BIG ego.

Granted, the big note currency will be phased out over time, but this is of no concern as they did the same thing in US. We never see $10K note or even $500. notes in circulation anymore, so this is nothing so unusual. These will simply phase out and of course, as Adam stated, they will be freely exchanged at any bank when the time comes, so no fear of all new notes being changed for any reason as all the security features are already incorporated in NEW currency.

The OLD Saddam currency was so poor in security quality that anyone with a digital copier could reproduce them, hence, billions were in circulation undermining the old economy which was tightly controlled by Saddam. Think about it, with all the issues that faced the old economic climate in Iraq, fraud, government kickbacks, controlled currency movement, no foreign banks allowed to compete, invasions, wars, killing worse than now, no democracy, never mind fair vote of anykind, egads, the list goes on and on, and yet the old currency was worth $3.39 to the dollar.

Now look at all that has been put in place and it is like no comparison ever seen before in any country, so could anyone think the currency should not be worth more than before with all the helter skelter going on for decades of Saddam's power by fear. Personally, if you study world economics, even without oil and natural gas reserves and almost all debt forgiven, never mind all the rest of positive news going on in Iraq, I would expect at least the same level of value at worse. Given the fact that free enterprise is alive and well in Iraq and booming, I would think it will be even higher in the future and be the economic powerhouse of the whole region. Time will tell.

Good luck to all, Mike

Thanks Adster, I read it and heard Bush earlier addressing a hall of Military personnel with the message, the job has had to be done well and proper to gain credibility both back home and abroad and especially among the Muslim & Int'l community around the world to see this is NOT another case like when Afghanistan in the earlier wars was conducted before the Russians moved in followed by the Talebans and OBL...that is a fiasco only those at this moment are hoping to relive that scenario which we cannot afford to allow in this day of terrorists mushrooming in many cuntries providing allegiance to Al Qaeda.

The Iraqis who knows what is best are beginning to realise, it is a better world coming their way and the struggle is far from over, but they are gaining grounds... thanks to US and coalition forcs being there and no thanks to those looking at the small side of the picture!

YB.

Good one YB,

Hot off the press, rumours are the SBA has been done. Will confirm when I know for sure, believe an official announcement will be made tomorrow but it's looking 95% done. :0))))

Hot off the press, rumours are the SBA has been done. Will confirm when I know for sure, believe an official announcement will be made tomorrow but it's looking 95% done. :0))))