Why is the iraq dinar only listed on forex with Dollar,Euro,and British Pound

[dontlop]

http://www.barchart.com/forex/Iraq_Dinars/allrates.php?sym=^IQD

Could it be that these central banks are the only ones who have traded in the iraqi dinar so far ?

We know the U.S. treasury claims they held iraqi dinar to do day to day business in iraq but they claim they did not hold iraqi dinar for investment purposes

Wonder why India rupee and iraq dinar isnt there or the russian ruple

Or the Chinese yaun

They aren't listed on the cbi web site either but the dollar pound and euro is

You would think chinese yaun would be on the cbi web site or russian ruple or india rupee since they buy so much from those country's

Take a look at the Chinese forex listing off same site

http://www.barchart.com/forex/Chinese_Yuan/allrates.php?sym=^CNY

Or India rupee

http://www.barchart.com/forex/Indian_Rupee/allrates.php?sym=^INR

Now the USA listing which includes the iraqi dinar

http://www.barchart.com/forex/Indian_Rupee/allrates.php?sym=^INR

And pound includes iraqi dinar

http://www.barchart.com/forex/British_Pound/allrates.php?sym=^GBP

Euro includes dinar

http://www.barchart.com/forex/Euro_FX/allrates.php?sym=^EUR

But no one else in the world is listed on the forex except them

Imagine there's a reason

Russia is selling military equipment but is not listed on the forex with iraq

http://www.barchart.com/forex/Russian_Ruble/allrates.php?sym=^RUB

[hammer911]

Not sure but I think the ones that dont except it take the dollar. I think thats why most country's have to have a large  foreign reserve...

[dontlop]

I think great britan and the United states central banks have had some dealings with the dinar

Or at least some organizations in the two countrys are or have had some type of dealing in them

They are the only ones listed on Iraqs forex pairings and the only ones I found to have iraq listed on theirs

Citi world link has been dealing in iraqi dinar cross border transactions since 2006

Edited December 1, 2014 by dontlop

[dontlop]

Why would the USA need to exchange dinars for dollars

For the embassy ?

They can do that inside iraq

For some reason they are doing it electronically thru the forex

[rulesforrebels]

Has it ever been confirmed from a legit source the Treasury holds DInar or is that gurus who say it? I'm not disputing that they do hold DInar just wasn't sure if that was guru talk or a fact.

[dontlop]

Well I read in the criminal charges against those clowns in the bh group in toledo where they said the treasury had trillions of dinar they were holding to pay for the war after it rvd and the FBI said it was fraudulent statements

The FBI said the treasury held dinar for day to day operations in Iraq but they never sad how much

But they also said they didn't hold any iraqi dinar for " investment purposes"

Now how much they might of needed for day to day expendatures while they were spending 10 billion dollars a month on the iraq war is unknown

But one billion dollars worth would of been over a trillion dinar

So yes they did have some dinar at least at some point

Whether or not they have any today is not known

[sandfly]

THEY HOLD IT

[dinarbeleiver]

Billions Over Baghdad

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By JOHN B. TAYLOR

Published: February 27, 2007

Stanford, Calif.

Joe Morse

EARLIER this month, the House Committee on Oversight and Government Reform held a hearing that criticized the decision to ship American currency into Iraq just after Saddam Hussein’s government fell. As the committee’s chairman, Henry Waxman of California, put it in his opening statement, “Who in their right mind would send 360 tons of cash into a war zone?” His criticism attracted wide attention, feeding antiwar sentiment and even providing material for comedians. But a careful investigation of the facts behind the currency shipment paints a far different picture.

The currency that was shipped into Iraq in the days after the fall of Saddam Hussein’s government was part of a successful financial operation that had been carefully planned months before the invasion. Its aims were to prevent a financial collapse in Iraq, put the financial system on a firm footing and pave the way for a new Iraqi currency. Contrary to the criticism that such currency shipments were ill advised or poorly monitored, this financial plan was carried out with precision and was a complete success.

The plan, which had two stages, was designed to work for Iraq’s cash economy, in which checks or electronic funds transfers were virtually unknown and shipments of tons of cash were commonplace.

In the first stage, the United States would pay Iraqi government employees and pensioners in American dollars. These were obtained from Saddam Hussein’s accounts in American banks, which were frozen after he attacked Kuwait in 1990 and amounted to about $1.7 billion. Since the dollar is a strong and reliable currency, paying in dollars would create financial stability until a new Iraqi governing body was established and could design a new currency. The second stage of the plan was to print a new Iraqi currency for which Iraqis could exchange their old dinars.

The final details of the plan were reviewed in the White House Situation Room by President Bush and the National Security Council on March 12, 2003. I attended that meeting. Treasury Secretary John Snow opened the presentation with a series of slides. “As soon as control over the Iraqi government is established,” the first slide read, we plan to “use United States dollars to pay civil servants and pensioners. Later, depending on the situation on the ground, we would decide about the new currency.” Another slide indicated that we could ship $100 million in small denominations to Baghdad on one week’s notice. President Bush approved the plan with the understanding that we would review the options for a new Iraqi currency later, when we knew the situation on the ground.

To carry out the first stage of the plan, President Bush issued an executive order on March 20, 2003, instructing United States banks to relinquish Mr. Hussein’s frozen dollars. From that money, 237.3 tons in $1, $5, $10 and $20 bills were sent to Iraq. During April, United States Treasury officials in Baghdad worked with the military and the Iraqi Finance Ministry officials — who had painstakingly kept the payroll records despite the looting of the ministry — to make sure the right people were paid. The Iraqis supplied extensive documentation of each recipient of a pension or paycheck. Treasury officials who watched over the payment process in Baghdad in those first few weeks reported a culture of good record keeping.

On April 29, Jay Garner, the retired lieutenant general who headed the reconstruction effort in Iraq at the time, reported to Washington that the payments had lifted the mood of people in Baghdad during those first few confusing days. Even more important, a collapse of the financial system was avoided.

This success paved the way for the second stage of the plan. In only a few months, 27 planeloads (in 747 jumbo jets) of new Iraqi currency were flown into Iraq from seven printing plants around the world. Armed convoys delivered the currency to 240 sites around the country. From there, it was distributed to 25 million Iraqis in exchange for their old dinars, which were then dyed, collected into trucks, shipped to incinerators and burned or simply buried.

The new currency proved to be very popular. It provided a sound underpinning for the financial system and remains strong, appreciating against the dollar even in the past few months. Hence, the second part of the currency plan was also a success.

The story of the currency plan is one of several that involved large sums of cash. For example, just before the war, Saddam Hussein stole $1 billion from the Iraqi central bank. American soldiers found that money in his palaces and shipped it to a base in Kuwait, where the United States Army’s 336th Finance Command kept it safe. To avoid any appearance of wrongdoing, American soldiers in Kuwait wore pocket-less shorts and T-shirts whenever they counted the money.

Later, American forces used the found cash to build schools and hospitals, and to repair roads and bridges. Gen. David Petraeus has described these projects as more successful than the broader reconstruction effort.

But that wasn’t the only source of dollars. Because the new Iraqi dinar was so popular, the central bank bought billions of United States dollars to keep it from appreciating too much. As a result, billions in cash accumulated in the vaults of the central bank. Later, with American help, the Iraqi central bank deposited these billions at the New York Federal Reserve Bank, where they could earn interest.

Finally, when Iraq started to earn dollars selling oil, the United States transferred the cash revenue to the Finance Ministry, where it was used to finance government operations, including salaries and reconstruction. Many of these transfers occurred in 2004, long after the financial stabilization operation had concluded. Iraqi Finance Ministry officials had already demonstrated that they were serious about keeping the controls they had in place. The 360 tons mentioned by Henry Waxman includes these transfers as well as the 237.3 tons shipped in 2003 in the stabilization.

One of the most successful and carefully planned operations of the war has been held up in this hearing for criticism and even ridicule. As these facts show, praise rather than ridicule is appropriate: praise for the brave experts in the United States Treasury who went to Iraq in April 2003 and established a working Finance Ministry and central bank, praise for the Iraqis in the Finance Ministry who carefully preserved payment records in the face of looting, praise for the American soldiers in the 336th Finance Command who safely kept found money, and yes, even praise for planning and follow-through back in the United States.

John B. Taylor, under secretary of the Treasury from 2001 to 2005, is the author of “Global Financial Warriors.”

This paragraph is the interesting one

This success paved the way for the second stage of the plan. In only a few months, 27 planeloads (in 747 jumbo jets) of new Iraqi currency were flown into Iraq from seven printing plants around the world. Armed convoys delivered the currency to 240 sites around the country. From there, it was distributed to 25 million Iraqis in exchange for their old dinars, which were then dyed, collected into trucks, shipped to incinerators and burned

Read more: http://dinarvets.com/forums/index.php?/topic/191818-why-is-the-iraq-dinar-only-listed-on-forex-with-dollareuroand-british-pound/#ixzz3LDI8kRhG

I'm sure one of those planes never made it to Iraq - I heard it went straight to the USA

[dontlop]

I heard the dinar was going to rv next week a hundred times

But it never rvd

I'm done with I haard

Their gonnas

I'm gonna

I call bs on every one of those when talking about the iraqi dinar or vietnam don't

Show me the money it's been long enough of this bs

[dontlop]

Ten years

Come on

Their gonna?

I heard ?

[Texstorm]

Christmas is coming DL !

[ewingm]

MTGT says it RV's big time this coming week.  My people are ready.  Of course they have assumed this "ready" posture about 10,000 times since 2009.  But they are still believers.  God bless them.  

[Texstorm]

Ewingm I'm really worried about OKIE haven't heard from him in a while. May be he chasing mountain goats over in Bavaria.

[dontlop]

Hey the FBI has stated the treasury has delt in dinar

And the USA is one of the three currencies the forex has listed with the iraqi dinar

So I wonder who the select clients are that citis world link has been making payments in iraqi dinar since 2006 are

[ewingm]

Ahhhh, Dinarbeliever.  You really are a believer regardless of the entire history of world finance not SUPPORTING or ACCEPTING a 100,000% revalue of any nation's currency.   Why are you so confident that the world will treat Iraq any differently?  And please don't say that its because iraq has a lot of oil.  With the advent of fracking, the US has lots of oil too, but we're not going to RV the dollar 100,000% just because we do.

[dontlop]

But they could !

They can do it one time

You can jump out of a dragster one time at 300 miles per hour

Just once

But you can do it if you choose

[dontlop]

I wonder if there's a way to see if there's any iraqi dinar in our exotic currency reserves

And the exact number of them

[dontlop]

Comparison of charts

The USA http://data.worldbank.org/country/united-states

Iraq http://data.worldbank.org/country/iraq

[dontlop]

http://m.youtube.com/watch?v=3P0kGvvgd3k

[Texstorm]

I'm pretty sure that the US has backed a lot of scum over the years. May be it was because we needed them for the moment, but you can rest assured they when the US is done with them, then goes their demise. The covert black operations or war are not always pretty, sometimes they are out of necessity, doesn't mean you have to like it and sometimes you are better off with out all of those ugly thoughts in your head. 

[dontlop]

Your right that some administrations did

But the USA citizens didn't even know

Now things make it to the Internet and we see who's doing what

So there's no excuse re-electing these same people

[Texstorm]

Agreed