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Kuwait Dinar Revalue - History


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#1 Dinar Buddy

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Posted 16 December 2011 - 01:05 PM

I have been searching the RV process Kuwait went through to RV/RI their currency after the Iraq invasion. My findings state that once the currency was set in motion to increase the value the first 90 days it was mandatory turn in of all large bills. The value of the bills were set at $.10 against the USD. Second, there was absolutely no option to trade in the currency in the world, except face to face in a Kuwait bank, in country exchange. Once the 90 days ended the new bills were released and over the next 2 full years the currency slowly climbed to the price it is at today, via smaller bills.

This explains possibly why we have heard many times a release at $.10 to $.20 to the USD. This makes real sense and I feel we are going to see and hear of this as an option more as they get closer to the currency announcement. By the way many folks would be very excited to a $.10 to $.20 rate.

The question you might have relating to the Executive Order 13303 and it being in place to ensure the people of the US can own currency is a lie. This order was to protect the IMF fund and to protect against anyone trying to sue or take the protected funds. Link: Executive Order 13303 - Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has an Interest http://www.presidenc...&Submit=DISPLAY

Quote: I, George W. Bush, President of the United States of America, find that the threat of attachment or other judicial process against the Development Fund for Iraq, Iraqi petroleum and petroleum products, and interests therein, and proceeds, obligations, or any financial instruments of any nature whatsoever arising from or related to the sale or marketing thereof, and interests therein, obstructs the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq. This situation constitutes an unusual and extraordinary threat to the national security and foreign policy of the United States and I hereby declare a national emergency to deal with that threat.
We could be very well out of luck to cash in any currency till the small bills released, as we all have the larger bills. The larger bill could only be worth $.10 to $.20. UST will hold the bills for as long as they choose as they are collecting all the Dinar and at such point will process them directly with the CBI /GOI.

I want this to hit all time highs, but now I am preparing for a smaller return, possibly, or not return at all as I can't fly to Iraq to turn in my large bills. This could suck!!!

Again, this is only a possible action that could be taken.

Let's RV/RI
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#2 GMartin

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Posted 16 December 2011 - 01:13 PM

That's strange I have been researching since I became involved in this investment and no where did it disclose a currency amount for kuwait. I have the dates it occurred and I've posted several documents on this forum when I first joined. Id like to know where you found this...or is it just your opinion?

Edited by GMartin, 16 December 2011 - 01:16 PM.

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#3 WYOMING

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Posted 16 December 2011 - 01:28 PM

I don't beleive this for two seconds. The person that intoduced me to the Dinar (who I happen to work with) has a personal friend that made a lot of money from the Kuwaiti Dinar. I don't know how much, but he is retired and living in Colorado.
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#4 Marilyn53

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Posted 16 December 2011 - 01:38 PM

I wish I could find the link and maybe someone here can, but under another Order, President Bush gave all American's the same citizenship in Iraq as an Iraqi, except for the right to vote. Don't know, but this may come into play since we have the same rights.
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#5 jomans

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Posted 16 December 2011 - 01:56 PM

Actually, Kuwait never revalued their currency. The reality is that after IRAQ invaded Kuwait, Sadaam stole the plates used to make Kuwait dinars and tried to replace Kuwait dinars with Iraq Dinars. The Kuwait banks closed during this chaos and everyone on the Kuwait street thought the Kuwait Dinars were worthless. At this time, you could pick up the Kuwait dinars for pennies on the marketplace streets. Some folks did this and only paid a few cents for them. After the war, the banks opened up and reinstated the Kuwait Dinar and the original value (which was somewhere around $3.31 value). Those folks who purchsed the Kuwait Dinar on the streets (for pennies) simply went to the bank and exchanged for $3.31 (roughly) each.
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#6 GMartin

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Posted 16 December 2011 - 02:06 PM

Actually, Kuwait never revalued their currency. The reality is that after IRAQ invaded Kuwait, Sadaam stole the plates used to make Kuwait dinars and tried to replace Kuwait dinars with Iraq Dinars. The Kuwait banks closed during this chaos and everyone on the Kuwait street thought the Kuwait Dinars were worthless. At this time, you could pick up the Kuwait dinars for pennies on the marketplace streets. Some folks did this and only paid a few cents for them. After the war, the banks opened up and reinstated the Kuwait Dinar and the original value (which was somewhere around $3.31 value). Those folks who purchsed the Kuwait Dinar on the streets (for pennies) simply went to the bank and exchanged for $3.31 (roughly) each.



Reinstate is correct. Iraq could do the same thing folks or Revalue.
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#7 Dinar Buddy

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Posted 16 December 2011 - 02:48 PM

Additional Information. Kuwait's first 6 months only allows $4,000 to $6,000 per month to be withdrawn or transfered per month... could the CBI do the same??
http://62.150.50.22/...2Eng/part13.pdf (page 3)

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#8 semichdave

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Posted 16 December 2011 - 07:34 PM

Reinstate is correct. Iraq could do the same thing folks or Revalue.


found this from Wiki.....it has been posted on DV before.

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.

http://en.wikipedia....i/Kuwaiti_dinar
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#9 HopefulTxn

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Posted 16 December 2011 - 08:07 PM

Actually, Kuwait never revalued their currency. The reality is that after IRAQ invaded Kuwait, Sadaam stole the plates used to make Kuwait dinars and tried to replace Kuwait dinars with Iraq Dinars. The Kuwait banks closed during this chaos and everyone on the Kuwait street thought the Kuwait Dinars were worthless. At this time, you could pick up the Kuwait dinars for pennies on the marketplace streets. Some folks did this and only paid a few cents for them. After the war, the banks opened up and reinstated the Kuwait Dinar and the original value (which was somewhere around $3.31 value). Those folks who purchsed the Kuwait Dinar on the streets (for pennies) simply went to the bank and exchanged for $3.31 (roughly) each.


Unfortunately, the idea that any plates were stolen is nothing but a forum myth. There is nothing to support that Kuwait even prints their own currency, which if they don't they would not have the plates to do so in their possession.

The only information available regarding the exchange in Kuwait, from news sources as well as people that were there, was that certain lots of serial numbers were not redeemable for the new currency as they had been stolen from the CBK vaults during the occupation period.

Printing plates have nothing to do with the serial numbers, they are two completely different parts of a printing process.
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