What happened to Kuwaiti Dinar prior?

[ddhubble]

Does anyone remember what happened to the Kuwaiti Dinar prior to its revalue years ago? Is it close to what is happening to Iraq right now? Didn't Kuwait pick up more fighting prior to the launch of the new international rate? I can't tee member that many years ago a lot has happened since then.

[dontlop]

Just google it

I don't understand why you ask

It was 24 years ago

I'm sure you will find something

Kuwait pick up more fighting

That's a joke

Their fearless leaders ran away and left the Kuwaitis fend for themselves

Iraq just walked in and took over

They drove their tanks down the streets and the Islamic cowards ran like they always do

If aliens came they would just surrender

Who ever is the biggest killer at the time in the area is incharge

Saddam was incharge then

Then the coalitition became the biggest killers so they were incharge

Then they put their puppets back in place

The Kuwaiti govt made a fortune buying their currency back at 20% of its value till they ran out of foriegn currency then they shut down the Kuwait dinar off the international exchange and let the paper money turn into toilet paper

[roseserv]

My two cents 

 

 

Think you have to blame all the "hype artist" out there.  The way this investment was sold to so many was the "example" of how the Kuwaitti currency revalued after they re-established themselves after the Gulf War.

  But as you (and many others) have explained, you can not use them to judge the course the Iraqi currency will take.   The Kuwaiti government and people simply walked back into there old lives (after cleaning up) and went back to work, they did not have to redo/re-establish everything.. ie: new government,  rules of parilemtery procedures, infrastructure, etc... 

 Of course the Kuwaiti's had the power of an established government and the simpathy of the World banks and others to play their games and make money off of playing with the values of it. Don't think Iraq will be able to play that game.

 

So it is unfortunate that we still have those thinking the Iraqi Dinar will take the same course as the Kuwaiti Dinar.  I have tried to convince one friend of this fact since 2005!

[ddhubble]

Dontlop, don't be so rude it is a simple question. Yes it was a long time ago I understand it very well my family was in that war as I was to. I have been in this investment since the beginning of it.

Roseserv, I don't think that the Iraqi dinar will be like the Kuwaiti Dinar it is completely different. What Iraq is doing is completely changing there future from a dictator to a democracy.

[rockfl9]

Kuwait is an Emirate. The Emir is the state so when he went into exile the control of the banks(country)  reserves stayed with him. When he returned the reserves returned therefore the backing for the Kuwaiti was immediately restored.  The exchange rate returned to its original value... Nowhere near the problems with the iraqi dinar.

[skeetdog]

Input to your topic was an open ...''dontlop'' is a valued member here an I always respect his dedications to research and inform. The one thing you can count on in his response is, he want back off worrying about your feelings. ''dontlop'' is ''dontlop'' and as long as ''dontlop stays in ''dontlop's'' nature it's only fair to the man to accept him for who he is. I wouldn't be surprised if ''dontlop'' comes back and tells me he can fight his own battles and for me to stick to the subject matter of the post...  

[DinarThug]

Just google it

I don't understand why you ask

It was 24 years ago

I'm sure you will find something

Kuwait pick up more fighting

That's a joke

Their fearless leaders ran away and left the Kuwaitis fend for themselves

Iraq just walked in and took over

They drove their tanks down the streets and the Islamic cowards ran like they always do

If aliens came they would just surrender

Who ever is the biggest killer at the time in the area is incharge Saddam was incharge then

Then the coalitition became the biggest killers so they were incharge

Then they put their puppets back in place

The Kuwaiti govt made a fortune buying their currency back at 20% of its value till they ran out of foriegn currency then they shut down the Kuwait dinar off the international exchange and let the paper money turn into toilet paper

I've Got DontLop's And SkeetDog's Backs On This DDHuble !

If U Open A Thread On DV Soliciting Feedback - Ur Gonna Get It !

[ddhubble]

No problem thugs just saying have a little respect for others. What ever happened to respecting others thoughts and questions. The is no room for rudeness and disrespect in opinions that are not yours. It is an open conversation that is why I opened it for others to input on my question. I do respect the input from others as I look at all sides and objectively conclude my own ideas and opinions.

[k98nights]

We all have to play nice with others... 

[rulesforrebels]

Here is my understanding of the Kuwaiti DInar and the charts seem to back this. The Kuwaiti DInar DID NOT REVALUE!!! I stress that DID NOT REVALUE!!!! This is how it's been explained to me and the charts seem to back this up.

 

So when Saddam Hussain was invading Kuwait the Kuwaiti people essentially thought their country was no more, meaning their currency was essentially worthless. People were fleeing, especially in border areas. Some people were selling their Kuwaiti Dinar in the streets for pennis on the Dollar so where as the Kuwaiti DInar was worth a couple bucks they were selling it for maybe 0.10 cents or something like that just for sake of the story. A few saavy people swooped up all this Kuwaiti DInar for pennies on the DInar. Had Saddam not been pushed out the currency probably would have become worthless and Kuwait would have been no more as a country, however the US pushed him out, those saavy people who picked up Kuwaiti Dinar at 0.10 cents now were able to cash it in for the value it was all along $2.50 or something like that and they made buckets of money. Banks closed for a couple days when this happened but the official rate never actually dropped to something really low.

 

Just an analogy for anyone who isn't following. Say Canada invades the US. People living in border states like Minnesota, Michigan, New York, etc say heck I gotta get out of here. THey sell their Dollars for like 0.10 cents in canadian money figuring I'll scrape together some money and get the hell out of here. Just for the sake of this story Mexico comes in and drives Canada out of the US. The US isn't overtaken and keeps its value it had all along. The few people who were in the right place at the right time, that being border states and bought up peoples dollars make out good.

 

This is how several intelligent people who seem to know about banking and finance and world events have explained it to me and if you look at histoircal currency charts this seems to be backed up by the charts as well.

[Tripphood]

Opened quite a can of worms with that question. It's been hashed out over and over and over and over a over and over........to infinity.