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mhl0521

Kuwait RV

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I keep hearing about Kuwait and the many millionairs that were made due to their investing in the Kuwait Dinar....I can not find anything concrete to back this up. Not doubting it happened but would sure like to know how it all went down. Might give me and others a little shot of adrenaline to know more details.

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Probably because the exchange rates for that time period are not available. I have tried digging it up myself and cannot come up with rates. I have heard that the kuwaiti dinar had gone up to approximately $9.00, shortly after it rv'd, but I have no evidence, just hearsay. I thought, someone here at DV, had a father or a friend of their father's that made like, 50 million off of the kuwaiti dinar. I can't remember who it was, but, hopefully they will read this post and perhaps shed some light! Hope our dinars, do the same!

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I thought, someone here at DV, had a father or a friend of their father's that made like, 50 million off of the kuwaiti dinar. I can't remember who it was, but, hopefully they will read this post and perhaps shed some light!

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Now that is a funny statement...Thank you for a good laugh.... Think about it though..really...Someone made 50 million on the Kuwaiti Dinar...and you think there is even a remote chance they will read the posts on this site...that is funny... They are probably laying on a beach sipping umbrella drinks...not going over this site every night like we do... Thanks again..I am still cracking up.

unless he is going to make $500m when Iraqi Dinar RV's....ha

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Dog, I saw the figure 7 in a chat yesterday, when did the kd rv do you know?

I saw where someone said it went up to around 9. But like I said, it was hearsay, and that was several months ago. I don't remember who it was. But also, I believe it rv'd sometime in 1990.

Bigfoot68

Now that is a funny statement...Thank you for a good laugh.... Think about it though..really...Someone made 50 million on the Kuwaiti Dinar...and you think there is even a remote chance they will read the posts on this site...that is funny... They are probably laying on a beach sipping umbrella drinks...not going over this site every night like we do... Thanks again..I am still cracking up.

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Did you not read my post!? I said someone's father or friend of his father's. This person who revealed this information was heavily invested in dinar - REMEMBER, IF YOU READ MY POST, IT WASN'T THIS PERSON WHO MADE THE MONEY! So, obviously this person isn't on the beach sipping umbrella drinks, he's in here with the rest of us schmucks! Don't even go there with me! Oh yeah, were you not the one, not long ago, acting like a guru? Ha! ...some people are funny!....

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Read a chat posted on May 01 2010 with Ronin7043... I believe it was posted by lucky lucy....Ronin was in on the Kuwait rv...cashed in at 7.00 I believe....read up a very interesting post.

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This is my 1st post, been reading & gleaning info along the way ... I do hold Dinar, this topic has been of big interest to me for quite a while especially since some members here claim a RV will never happen and not at all like the $ figures people are wanting .... What did go down with the Kuwait Dinar before and after Saddam invaded / It either did or did not RV and people that held the Kuwait dinar got wealthy or they didn't ........ If Kuwait's Dinar RV'd why do people post in this forum that Iraq's will not ........ they must have some reason for being so dead set at claiming it will not .................

Edited by letsroll
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could not edit my other post...here is the chat

[Ronin7043] babydoll77 but i was in on the kuwait ri

[gwright] less than a year

[babydoll77] Ronin7043 when was that?

[gwright] Ronin7043 some say that never happened

[steveh12] this Dinar Investment is like a Marrige

[Ronin7043] babydoll77 in the 90s

[Ronin7043] gwright well i'm here to tell you they are wrong

[LeeB32] we still have lots of funny money I see

[babydoll77] gwright we will have to pay short gain tx.huh

[babydoll77] steveh12 how so?

[Ronin7043] gwright or where you talking that it never happened with me?

[gwright] babydoll77 with my income so low and not being heabily invested I really don't know

[gwright] heavily

[steveh12] Your Excited the First Year, then its just there

[babydoll77] steveh12

[steveh12]

[gwright] Ronin7043 no was laughing some say there never was an ri for kuwait and here you are saying oh in fact it did

[edavis] Ronin7043 hey buddy how's it going

[Ronin7043] edavis hey how are you

[edavis] great

[edavis] wanted to ask you

[Ronin7043] edavis ok

[edavis] when the kuwait dinar rvvvvvvvvvvv'd was there a lot of misinfo out leading up to the rv

[gwright] Ronin7043 wasn't saying you weren't telling the truth sorry if it sounded that way

[edavis] or did you guys have a good idea it was going to hit when it did

[babydoll77] edavis good question

[steveh12] Did edavis raise His Hand?

[babydoll77] steveh12 pay attention

[edavis] steveh12 don't you want to know

[steveh12] DOH

[Ronin7043] edavis there was no enternet then so the info was comeing from boots on the ground and the currency people ( sellers) so the info was almost the same but not as much

[Ronin7043] gwright is ok

[gwright] Ronin7043 guess I am being nosey but how well did you do with the kuwait ri?

[luckylucy] Ronin7043 did you buy the currency like we are buying dinars now?

[Ronin7043] i was lucky in that the guy that got me in had a brother over thier and it told us when he phoned home once a month

[gwright] or rv

[steveh12] Bout Time Lucy

[Ronin7043] my father and it went in for XXXXXXXXXXX and we used the friend that was over there

[gwright] boy I am glad there is some actual chat going on was getting depressed

[steveh12]

[edavis] Ronin7043 did you just wake up one morning rich..or were you really on top of it once a month via the phone calls

[luckylucy] gwright

[Ronin7043] on morning at 2.30 am ny friend got a call from is brother and it was on after that

[steveh12]

[gwright] luckylucy

[gwright] wow like christmas morning

[Ronin7043] me and my father took a hit in the spread, we didn't know where else to go to cash

[babydoll77] Ronin7043 what do you mean took hit in spread?

[gwright] hmmm just gave me an idea

[Ronin7043] bank took .80 off the top

[luckylucy] Ronin7043 yuuukkkk

[steveh12] Its Christmas?

[babydoll77] Ronin7043 ouch!!

[gwright] have dinar for my kids will put up tree quickly and put dinar in big boxes when it rv's

[antfuzz] The spread is the difference between the buy and sell rate

[steveh12]

[babydoll77] gwright gwright

[gwright] steveh12 one dinar in each box

[gwright] serious

[steveh12] Scrooge

[steveh12]

[edavis] Ronin7043 yeah but at 7.00 exchange rate...80 is nothing

[Ronin7043] the think is we waited to cash we where told the it wes going up it came in at 1.10 almost two months it went to 7.00 then my dad freaked and wanted out

[gwright] scrooge...they don't know how much I bought for them

[Ronin7043] so we sold

[gwright] Ronin7043 good job !

[Ronin7043] but one month later it went to 9.00 then one week later it went to 3.90 where it is today

[edavis] Ronin7043 boy...what a ride

[steveh12] and now you are talking to the little people

[gwright] wow can't waite to do the christmas tree thing now

[gwright]

[Ronin7043] if it wasn't for my dad i might of waited and lost out at 3.90

[steveh12] gwright

[gwright] steveh12 I'm like a little kid

[steveh12] BBL Gang

[edavis] Ronin7043 it's really nice to hear from someone..who's been their, not just speculating. I was active duty mil. during that time but missed out...but not this time

[steveh12] Bye

[luckylucy] Ronin7043 wow ... I wish you'd post this ... just as encouragement for others.

[Ronin7043] edavis thank you for your service

[gwright] Ronin7043 yes ty for sharing that has lifted my spirits a lot!!!!!

[luckylucy] these things really do happen! Ronin7043

[Ronin7043] yw

l

Wow, great to hear another source who has rode this one out before 7.00 and up to 9.00?....lol Holy Moly I had no idea. I figured it just hit around 2 or so then moved up to 3, but it went that high and then dropped? Amazing. heck I'd even settle for the 3.9 right now....lol

Thanks for posting the chat log.

Read more:

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There has never been any proof of people making a ton of money when Kuwait rv'ed. It is so easy to come here and say anything you want and not have proof. You will never see any proof of that happening on this or any other site. The best you can hope for is to make a little money in the end, or at least come out even. JMO

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There has never been any proof of people making a ton of money when Kuwait rv'ed. It is so easy to come here and say anything you want and not have proof. You will never see any proof of that happening on this or any other site. The best you can hope for is to make a little money in the end, or at least come out even. JMO

So you are saying all that Kuwait hype was just that....hype? It sure seems that this would be easy to verify either way.

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Wow...So Touchy...It was still funny to me and worth the laugh... Was not meant to take a shot at you but....No I am not a guru...any more than beloved Sonny1 that everyone kissed up to. Where has he been since being wrong like everyone else. If I had anymore info....I would NOT post it in this forum anyway...People are too mean and nothing is gained for it....case and point...your comment above. I just want to wish everyone good luck in this investment and I am NOT offering anymore info.

Obviously more then just a few are a little touchy! Regardless - I still was impressed with your conviction back when you were making your stand for the RV earlier this year....

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Probably because the exchange rates for that time period are not available. I have tried digging it up myself and cannot come up with rates ...

Ditto

Thanks for the post

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I did not like the tone of my last post...sorry...I always liked Sonny1 too.

For obvious reasons, I didn't like the tone of your first post. Your response was perceived by me as though, I was lying. My comments were so unbelievable, that you are still laughing about it. First of all, you didn't read it right, second of all, I have no reason to lie. As you can see, peeps have posted the actual chat I was talking about, that took place back in May. I know people made money off the Kuwaiti Dinar, back in the 90's, I have no reason to not believe this story. Plus, I have no way to verify it.

I also know too, that a small number of people can be mean on this site. I also know my personality, I don't let people get in my face, without letting them know, what I think. I remember when you posted your predictions and I especially remember the repercussions you received. I was not one of those bashers, instead, I felt sorry for you. I don't like being called out as if I were an airhead. So, now that I called you out on your response, you start to backpedal and then try to turn it around on me as being "touchy" and "mean". What I find so ironic, is your attitude, not divulging anymore intel because of how you were treated. So now, you become one of the bashers, then. Someone who wishes to no longer contribute anything positive or anything good, but just be cynical and negative. Okay, so now, I'm supposed to believe you wish everyone good luck with this investment? That sounds a bit contrived, don't you think?

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I wonder if Adam was involved with the Kuwait rv, does anyone know ?

Steveruss,

I have read several times where Adam has stated that he made some money from the Kuwaiti Dinar.

It may have also been mentioned in his book, but I'm not positive about that.

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Iraq invaded Kuwait on 2 Aug 1990. The Iraqi army sacked the Central Bank of Kuwait and made off with all their foreign currency reserves, gold and reserves of Kuwaiti Dinars.

Operation Desert Storm commenced on 28 Jan 1991 and the cease fire was ordered by President Bush on 2 Feb 1991.

Because Kuwait's currency was "Corrupted", the value fell to almost nothing. De la Rue printed the Kuwait Dinars and the plates were not kept in Kuwait, therefore, it was a simple matter to print new notes using a different color ink. There was a window in which the old notes could be exchanged for the new notes.

As a civilian contractor, I arrived in The Islamic State of Kuwait late on 2 Sept 1991. None of the oil well fires had been extinguished. As we approached Kuwait City, I had the un-nerving sensation that I was descending into the bowls of hell.

By the time I arrived in country the exchange was nearly completed; only new dinars were accepted as legal tender and the exchange rate was $3.47 to the dinar--much the same as it is today. The only money made was by a very few who acquired old dinars and then exchange them for the new notes. This transaction was in country only.

I did not know any one, ex-pat or Kuwaiti who made a killing on this exchange. I seriously doubt anyone who they did.

Hope this helps,

Dawg

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Iraq invaded Kuwait on 2 Aug 1990. The Iraqi army sacked the Central Bank of Kuwait and made off with all their foreign currency reserves, gold and reserves of Kuwaiti Dinars.

Operation Desert Storm commenced on 28 Jan 1991 and the cease fire was ordered by President Bush on 2 Feb 1991.

Because Kuwait's currency was "Corrupted", the value fell to almost nothing. De la Rue printed the Kuwait Dinars and the plates were not kept in Kuwait, therefore, it was a simple matter to print new notes using a different color ink. There was a window in which the old notes could be exchanged for the new notes.

As a civilian contractor, I arrived in The Islamic State of Kuwait late on 2 Sept 1991. None of the oil well fires had been extinguished. As we approached Kuwait City, I had the un-nerving sensation that I was descending into the bowls of hell.

By the time I arrived in country the exchange was nearly completed; only new dinars were accepted as legal tender and the exchange rate was $3.47 to the dinar--much the same as it is today. The only money made was by a very few who acquired old dinars and then exchange them for the new notes. This transaction was in country only.

I did not know any one, ex-pat or Kuwaiti who made a killing on this exchange. I seriously doubt anyone who they did.

Hope this helps,

Dawg

Now this makes sense to me and thanks for the insite...It was a different beast than Iraq Dinar but I kept hearing of people making fortunes overnight from the Kuwait deal but could not find anything that verified it. So either way, drawing a parallel to the Kuwait Dinar RV is probably hogwash.

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History

The dinar was introduced in 1961 to replace the Gulf rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, this resulted in a conversion rate of 13⅓ rupees to the dinar.

When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.

For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.

Coins

The following coins were introduced in 1961:

* 1 fils (Currently cancelled)

* 5 fils

* 10 fils

* 20 fils

* 50 fils

* 100 fils

Banknotes

To date five series of the Kuwaiti dinar banknote have been printed. The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960 which established the Kuwaiti Currency Board. This series was in circulation from 1 April 1961 to 1 February 1982 and consisted of denominations of ¼, ½, 1, 5 and 10 dinars.

After the creation of the Central Bank of Kuwait as a replacement to the Kuwaiti Currency Board, new ¼, ½ and 10 dinar notes were issued from 17 November 1970, followed by the new 1 and 5 dinar notes of the second series on 20 April 1971. This second series was likewise withdrawn on 1 February 1982.

The third series was issued on 20 February 1980 after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah, at that time in denominations of ¼, ½, 1, 5 and 10 dinar. A 20 dinar banknote was introduced on 9 February 1986. As a result of the state of emergency after Iraq's invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. Significant quantities of these notes were stolen by Iraqi forces and some have appeared on the international numismatic market. The "Standard Catalog of World Paper Money" (A. Pick, Krause Publications) lists notes with the following serial number prefix denominators as being among those stolen:

Denomination Prefix Denominators

¼ dinar 54-86

½ dinar 30-37

1 dinar 47-53

5 dinar 18-20

10 dinar 70-87

20 dinar 9-13

After the liberation, a fourth series was issued on 24 March 1991 with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery. This fourth series was legal tender until 16 February 1995. Denominations were ¼, ½, 1, 5, 10 and 20 dinar.

The fifth series of Kuwaiti banknotes has been in use since 3 April 1994 and include high-tech security measures which have now become standard for banknotes. Denominations were as in the fourth series.

Fixed exchange rate

Average Exchange Rate of Kuwait Dinar Against U.S. Dollar (Fils) [1]

From March 18, 1975 to January 4, 2003 the dinar was pegged to a weighted currency basket. From January 5, 2003 until May 20, 2007, the pegging was switched to 1 U.S. dollar = 0.29963 dinar with margins of ±3.5%.[2]. The central rate translates to approximately 1 dinar = 3.33745 dollars.

From June 16, 2007, the Kuwaiti dinar was re-pegged to a basket of currencies,[3] and is now worth about US$3.45 (€2.37). It is the world's highest-valued currency unit.

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bigfoot please STOP playing those silly games, you made a prediction and got it wrong once and took a bit off bashments on here.

the 1st time u gave no evidence. and now the same please just admit nobody knows a date.

i think its quite pathetic how everyone wants to sound like the expert.

chill man i believe u its coming :)

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Although there are references to money being made, and that the sources are hard to pin down. Make no mistake, it happened. Those who invest in currencies are akin to bankers, quiet, reserved, and somewhat less than personal. I actually got into this thru one of these people. An older woman, financially secure, one you would never think from conversation would be in the field of currency investment. She however got into it with a girlfriend many years ago and play margins and so on. I still thank her to this day for my own personal roller-coaster ride that I have been on for the last year and a half. She is very invested as is her friend of many years. My point is this. If you do your own due diligence and are comfortable with your own personal decision, then don't worry about what someone else has or has not done.. Just follow your own instincts. What is right for you, may not, probably will not be right for someone else.. This will happen, it has to. Not for us but for the people of Iraq. If we make some windfall along the way, great for us............... GO RV !!!!!!!! B)

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I believe Sonny1 stated last year that he or his family members were in on The Kuwait RV. I talked to Ronin on the phone months ago and he seemed like a straight shooter, his only lament was that he wish he had owned more Kuwait Dinar as family obligations gobbled up what he made from the RV.

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