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Posts posted by edwarda

  1. What a loaded question. I guess I am in the minority while I wish/dream for more I will be more than pleased with triple what I have invested. My dreams were a lot higher then I started looking at houses, RVs and cars, you know getting the plan together. As this past two years have gone by I have tempered by dreams quite a lot. From a big spread with land to just being able to pay off the little house we live in now. Realizing it is up to me learn to be happy with what I have, which for better or worse my little house is what some people dream of having. So the last two years with even losing my job have been a blessing in having to learn more about myself. So if I don't get to pay off the house tripling my money will get me a new roof and kitchen.

    So being honest with myself, I know my savings is getting close to zero percent interest so if I can get at least triple I will walk away with a smile feeling very fortunate I had a friend tell me about this. I do long for a little more just not as intense as previously the highs and lows were causing too much stress.

  2. If your not planning on passing off the copies as real who cares? I scanned all mine in, just in case whatever bank I do business with in the furture tries to tell me they are fake. I have the serial numbers to verify they do not have my dinar mixed up with some one elses.

  3. To Drox;

    Thank you the explanation. I am curious about this line " Right now Iraq has very difficult or low convertibility.". I understand what you are saying, but is it just that other countries do not want to exchange Dinars that is keeping their Dinar off the international market regardless of value? Trying to grasp this idea that if say any country wanted to sell tractors or trucks to Iraq and decided to take $30,000,000 dinar to buy one tractor (knowing it is done electronically) then it transaction could take place just like the power stations and water plants. So never mind the rate, if other countries just decided to go ahead with business they could? I am just still having a questions bouncing around in my head about Japan, France, Germany and other countries are selling housing projects and infrastructure to Iraq if they can not exchange their currency other than in the middle east. Do all countries demand payment in USD?

    Thanks to everyone trying to help get me straight.

  4. Thanks everyone for adding to this post. Below is a section of the OFAC list about Iraq. The block parties are countries like Cuba or Iran. So it seems to me if Iraq wanted to internationize their currency there is nothing holding them back.


    Unless a transaction involves a party blocked under OFAC’s authorities, financial transactions with Iraq are allowed, including the opening of correspondent accounts for Iraqi financial institutions.


  5. I was searching the internet looking to find out exactly what makes an internationally trade-able currency and was lead right back to this forum. Here is a quote from Networth from March 3rd 2011 asking the same thing, "When I ask why people think the dinar must RV, one of the common answers I hear is "Iraq must have a tradeable currency". I don't know if people know what they mean when they say that. Or maybe I don't understand what they are saying but, in my opinon, the dinar is already a tradeable currency. I own dinar. To acquire those dinar, I had to trade dollars. Presumably, nearly everyone in this forum owns dinar. In some cases, people in this forum have disposed of their dinar. Obviously, in a basic sense, the dinar is a tradeable currency because we have already traded with it! We had very little trouble acquiring or disposing of our dinar. We found very eager sellers and very willing buyers. So I don't know what people mean when they say the dinar is not currently tradeable. Obviously, grocery stores and malls won't accept our dinar as payment for items we may want to buy from them. But they wouldn't accept euro or yen either. I wouldn't expect the currency of another country, any country, to be tradeable for goods and services in the US. If we traveled to Iraq, I'm sure we would have no trouble exchanging our dinar for goods and services offered there.

    Perhaps they are talking about contracts and international transactions in Iraq not being denominated in dinar. That may be true but I don't believe that means a currency is not tradeable. Most international transactions are denominated in US dollars because the dollar is considered the world's reserve currency. If India buys wheat from Argentina, the transaction is denominated in US dollars. Yet the rupee is considered a "tradeable currency". So if a contract in Iraq is denominated in US dollars, I don't understand why that means the dinar is not tradeable. The vast majority of international contracts are priced in dollars already.

    If anyone knows what is meant when someone refers to the Iraqi dinar is not being "tradeable" I would appreciate an explanation. I, for one, happen to believe it is NOT a reason for the dinar to revalue. If the dinar is to revalue, as many believe, it will have nothing to do with making the dinar a tradeable currency. In my opinion, the dinar is perfectly acceptable and tradeable as it is. You should strike it from your list of reasons why the dinar must revalue."

    The reason for re-posting is after reading the responses I felt no one gave a complete explanation of what Iraq needs to do. I was told Iraq has been removed from the terrorism list and are now on the watch list (OFAC list). I know there is limit that can be taken out of the country. So, is it just removing the limit or is there more? Aside from the value what keeps it from being trade-able? If you feel like you can explain it well and have a link to an article I can read I will be happy to read it. I just want to understand more about what is and is not a international currency and I think it is more than the value which I and everyone else on this forum would like to be more. For those willing to help me understand I do understand they are selling currency somewhere hence the CBI daily sales to keep money flowing which if they do not want large amounts taken out the country who are they selling to? Only banks in Iraq? I also understand oil is purchased using USD which they want to move away from. Since they are trying to be the largest producer of oil I don't see that happening.

    I know a lot to digest but if you fell you have some knowledge to share please do.



  6. The way I understand this, is when the new dinar appear there will be an exchange of a 25,000 for a 25 dinar. Giving the iraqi people the ability to buy bread for 1 dinar instead of 1000 dinar. So if we can find a place to exchange when the new money comes out we make a profit in a year or two but only at double or triple your inital investment. I would love to be rich but it does not look like it will happen in this life. I would love to just say "SMOKE" as others will but there have been too many articles stating remove the zeros. I will exchange my dinar (if I can) and wait for a profit but not the riches I have dreamed of. I am confused over pay scale issues, it would seem like an adjustment would also need to be announced to go along articles about dinar values changing but I have not seen any of those type of articles posted.

    The biggest obstacle I see (for those not in Iraq) is a place to exchange without having to an enormous fee.


    • Upvote 2
  7. Thank you "Longhorns" for the link. I did a date range search from the May 1st to today with Iraq as the "key word". There are so many things to look at, kind of a needle in a haystack for those like me not sure what to look for.

    I just talked to someone about this and was told they are removed from the OFAC list in-that you can do business but they are still on the "watch list". I live in North Texas and I guess if the new dinars start showing up I will just start calling banks to see were I can exchange if the rate does not go up. At this time Chase does not exchange Dinar so I guess I will have to find another bank.

    Thanks for your responses, everyone.


  8. Hello folks,

    I have been checking this forum for a while now (over a year) and with all the encourging post lately I have not read any mention of the OFAC list (if that is the correct acroymn). I know there was some change concerning Iraq about 9 months ago but most banks will not deal with you concerning the dinar.

    What I am getting at is if there are two different currencies and the rate does not change for year giving people in Iraq time to exchange what they have, any ideas on how we will be able to exchange our dinar befor it deemed no longer valid currency.

    I don't have the money to purchase "new dinar" if it is printed so, any ideas on how we are going to work around this if it happens?

    Here's hoping my worries do not come to pass.


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