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dinar rumors


TBnhispower
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Anywhere you look you will see that even if the rate of 3.22 was inflated, it was still acknowledged by the rest of the world.....and every resource that documents exchange rates for countries acknowledges high rates for the Iraqi Dinar even from back in the day......and even US documents on the plans for the future of Iraq that were printed in 2002 before we even step foot in Iraq state about previous rates of 3.33 and planning on getting the value of the Iraqi Dinar to those heights!!!

Again, thanks Keep. Love this info. So, what's your guess on the rate?????

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Group: Members Posts: 93 Joined: 01-August 10 Posted 29 September 2010 - 03:06 PM

OK, so this is my first post. I fully admit to not knowing much, and not even knowing where to look to educate myself, so I need help from those who know about economic procedures. Honestly, this post frightens me and I would like to hear an educated discussion on the following post. I have had a similar discussion with my bank manager, so I figure it's probably a true story. If you don't have it in you to handle a possible negative about this investment, just skip this and go to the next one. Thanks you in advance for your consideration.

HERE IT IS:

Well - I have been keeping this under my hat - but I spoke with the Senior VP of Wells Fargo Foreign Exchange (FX) a few weeks ago. I was able to speak to a SENIOR person in FX because I am part of the Wells Fargo "Private Banking" Division. He told me that they had a big meeting on IQD and after doing extensive research they decided to advise all of their cliens to turn in their

IQD for USD ASAP and get OUT while we can still recover any of our investment -- that even if one had bought legitimate currency (not the old Saddam currency) it would be DECADES, if ever, before it could become a globally-traded currency. He sent me links to articles about the Chinese Yuan and how the Chinese have been trying for decades to make their currency global but even though they are one of the strongest economies in the world right now - the macro-economic procedures are not in place. He also mentioned Argentina - and their huge oil reserves, but because of instability in the country (not even a shadow of the instability in Iraq) they also have not been able to go global with their currency.

He continued to say that EVEN IF there is a revaluation to the former rate (where it was under Saddam) - it will be an INTERNAL RV, and none of us outside of Iraq will be able to benefit from it.

I was quite upset and disappointed after the call but I continue to hold my investment - at least until sometime early next year. If nothing happens by then - I think that I will take my losses and convert back to USD. This man was at the top of the FX office and he told me that if there was even a shred of hope for IQD to RV and make WF clients wealthy - they would NEVER tell them all to SELL because they knew they would lose all of their accounts! But after many meetings with multiple banking officials and global financial leaders - they came to the collective expert opinion that it simply cannot happen.

If anyone wants to talk to this person, and is a member of WF Private Banking - ask to speak to the head of the FX office and get ready to be as depressed as i have been since I spoke to him.

Ok here goes nothing,

i am more of a reader than a writer...(i hate to write,plus english is my third language i aquired to learn)

a lil' glimps into my life and how i was introduced to the iraqi dinar......

A friend of mine gave me an interesting tip about the IQD and how much of a longshot and fruitfull investment it could be, so my greedy lil' wheels start spinning:-)

At first i was looking for historical presedence and i came to remember Germany and Japan after the second world war ,look what those two countrys had and have accomplished after they were defeated.....

Japan took western goods and ideas ,reverse engineered and mass produced them and flooded the western market with cheap and good products....(economical power house of the far east)

Germany on the other hand was thinking how can we get out of this mess, we have to pay reparation from the first war we lost(we paid it off this year) our currency is worth nothing(1$=1trillion DM)

on the black market american cigarettes were used as currency so in 1948 the new Deutsche Mark was introduced on a sunday night ,by monday morning each german was entitled to 60 DM each

hardly enough to make a go of it but yet through hard work and enginuity the economy started to blossom (germany was the leading exporting country until this year,NOT CHINA)!

Now, what does Iraq have to offer for me wanting to invest into their currency mmmmmh......

Black gold and natural gas, something the rest of the world wants and needs!

what about the political instability?Iraq is hardly a GERMANY or JAPAN...........

The answer is the USA and UNO..most of the violence and wars in the middle east is fought because of sectarian and religious reasons!!!

The US and UN will not allow for another strife to happen in Iraq!

After those conclusions i proceeded to buy a few million dinars (that was back in 2004) and put 'em away.

The worst case scenario i have expensive toilet paper....

Fast foward august 2010....

american combat troops leaving Iraq MMMMMH let me check on my dinars, after browsing online i happend to stumble on this site what a wealth of information!

Now the real reason i am on here is....

Loping is not likely to happen 'cause the IQD is very stable right now and the inflation rate is very low.

Lets say Iraq has 50 Trillion dinars, if they would lop three zeros it would mean they have 54 billion. Its not enough to rebuild a war torn nation not enough liquidity(we have that problem here, banks are too scared to

hand out big loans) in order to controll excess money is to buy it back. The CBI has been doing it all along!

The reason the new Iqd was introduced is for one to get rid of Saddams smug face and his legacy!!!

Secondly the USA and UNO wanted the currency to be low so they would deter the terrrorist to use the new currency and it was easier to monitor larger transactions.

My opinion is that the Iqd will be pegged against a basket of currencies of that region for the time being, if it would be free floating currency it could be musceld around by market movers 'cause the GOI or the CBI

is not organised and strong enough!!!!!!

One more thing the chinese government has been trying to globalise their renminbi(yuan) its not free floating.

The chinese government has been keeping it suppressed same as in Iraq for different reasons though!

Secondly the currency has been kept low so terrorist couldnt make larger transactions without raising any red flags!!!(REITERATION)

MY RV PREDICTION DATE ITS SOONER OR LATER ENSHALLAH!!!!!!!!!!!!

REMEMBER PEOPLE DONT LIKE TO BE PUSHED AROUND ESPECIALLY THE MIDDLE EASTERNERS ITS ALL ABOUT SAVING FACE!!!!

GREED IS THE ONLY COMMONALITY WE CAN BE SURE OF, IT WILL HAPPEN ALL IN DUE TIME

ENSHALLAH

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Then thats your choice.....you dont have to believe anything....but for the most part you missed my point completely......I guess you only read and see what you want.....oh well..... :lol:

I am 10 miles from a--- crow flys straight ---from where I buy my Dinar and they will Buy them Back so what is the Comment we might be limited---and I live in the Country Rural area............ And I would not Believe W F would tell there people to sell back there Dinars JUST do not believe it.

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That executive order was to protect americans investing in the country of Iraq as far as business and stocks and such....no where does it specify just buying the currency which technically isent really investing in the country of Iraq....thats just buying their currency in the hopes that the value is returned to previous rates to make a profit....we cannot control what they have to do with their currency to bring it to previous value....they have to control that figuring in other factors which again we cannot control....if they cant support a higher rate then they just cant do it plain and simple....although yes it does look like they will after sometime but that doesnt necessarily mean they can do it right now or without changing the currency first.......

Bush must have , meant that we could buy Dinars if they (Iraq) where taken off the terrorist list and then USA banks started selling them...Come ON.no where does it say JUST for in the Executive order this is JUST FOR American to Invest besides how would me JUST INVEST(as American Citizens it is a act of Congress to do the paper work with Wa Bank...etc. ....

Edited by 2dinar1dong
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Oh, now THERE's a great premise, that we can trust the Big Banks. Lucid proof: I've had an Option ARM mortgage on my home since '96, courtesy of BofA. These were ruled illegal in 2008 (Case # LC083076, People of State of CA vs. Countrywide, etc.) and even though BofA is dragging their fat feet in fixing this, skirting the truths, they have the huevos to show it on my credit report as a "conventional loan". Sure, boys. Never had one on this home. Another blatant lie. And Wells Fargo, who I'd been with for over 20 years, whose "service fees" could have funded my daughter's 529 plan, yeah, I give them lots of cred too. Perpetual sleight of hand with every account I opened. Each 6 months they shifted terms to fatten their own pockets, hoping I wouldn't notice. And they didn't have to pay back a dollar on the dollar on the TARP help. Wonderful. Look, I only invested in enough Dinars to fund a comfortable rest-of-my-life if it RV's well, and help build our new church, start a wonderful non-profit foundation and give back to others I love, yet am fine with losing or just holding it if it doesn't RV. So let's not spread doom and gloom for those who will be healthier with hope than stressed with naysayers. Sure, this individual may be "informed", but is implicitly biased. I have a hard time accepting a corporate greed-monger's "wisdom" that goes in the face of what an entire government wishes to do, not to mention the benefits to our own government's investment. Bless the troops, bless our friends, don't worry, be happy.

Lovin' life

PS: my first post here, so leave your tomatoes with your ski masks at the door, or I'll sic a ninja turtle on ya! (my thanks to Viper51, Eddinar, phoenix and the rest of you with great perspective and insights)

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Bush must have , meant that we could buy Dinars if they (Iraq) where taken off the terrorist list and then USA banks started selling them...Come ON.no where does it say JUST for in the Executive order this is JUST FOR American to Invest besides how would me JUST INVEST(as American Citizens it is a act of Congress to do the paper work with Wa Bank...etc. ....

When they use the term investing they aren referring to just buying the currency....thats really not investing in the country....we are talking about americans investing real money into the economy of Iraq by spreading businesses, buying stocks, making contracts of legitimate business in Iraq for the premise of helping to build up the infrastructure....just buying their currency is not investing in the country and the economy of Iraq....not to mention its not something that can be controlled as far as what they do with it.....what we are doing is not really investing....we are not protected by anything or anyone when buying this currency....and we are not promised a fortune either from this....

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We view this as an investment, from our vantage point, but "Keep" you are right this does nothing to help build the infrastructure, or open a business. That's what Adam will be offering to those who are in VIP just after the RV occurs, a way to truly invest long term to help continue the rebuilding of Iraq. Not many will be seeking to do this, I am afraid, they will be too content on walking away with the money... and leave the rest behind.

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