RichNick123

Not Exactly---- "Unlike the FDIC's voluntary Transaction Account Guarantee ("TAG") Program, which will expire at the end of this year, the Dodd-Frank provision will apply at all FDIC-insured institutions and it will cover only traditional checking accounts that do not pay interest. The proposed rule emphasizes that, starting January 1, 2011, low-interest consumer checking accounts and Interest on Lawyer Trust Accounts (IOLTAs) (currently protected under the TAG Program) will no longer be eligible for an unlimited guarantee."

There has been a great amount of discussion on this and every other board as to the best way to handle possible RV transactions, most that will exceed the current $250,000 limit. For most investors this would be a "slam dunk" way to not have to worry about intricate banking decisions. On the other hand I also think it is an easy way for the government and IRS to better track exactly how much money is coming in and the proper tax ramifications on it. Personally I plan to pay the tax and relax. I purchased an additional 1/3 of my dinars for this exact purpose. I have a number in my head that I know I am happy with and then bought the appropriate amount to cover a 35% tax bracket. Doing it this way I know my only real actual tax outlay is a couple of thousand bucks!! I can live with that! I would say that you are probably 99% correct! On the other hand they may know that there is the possibility of a few thousand citizens who may be making deposits of over 250K soon. One can only hope! Have a great day!! Duh!! I replied to the wrong post!! Here ya go. I would say that you are probably 99% correct! On the other hand they may know that there is the possibility of a few thousand citizens who may be making deposits of over 250K soon. One can only hope! Have a great day!! Read more:

I know it has been discussed to use CDARS for multimillion dollar RV deposits to cover them with insurance. It looks like the FDIC knows something is coming down the pike after January 1 and is starting a new program to insure UNLIMITED funds in a single non interest bearing account. Could this be to more efficiently track the deposit amount for the IRS? Here is a portion of the jannouncement and a link! "Under the proposal, the FDIC will create a new, temporary deposit insurance category for noninterest-bearing transaction accounts. These accounts are primarily checking accounts used by businesses for payrolls, accounts payable and OTHER PPOSES," http://www.fdic.gov/news/news/press/2010/pr10217.html "The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved the issuance of a proposed rule to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide depositors at all FDIC-insured institutions unlimited deposit insurance coverage on noninterest-bearing transaction accounts beginning December 31, 2010 through December 31, 2012." ALL FDIC insured institutions and no wording about it being for businesses only!!

Guys and Ladies, I apoligize. I checked the date at the bottom and it was 2010, then found out it was actually 2009. This is a five year plan introduced as a research paper by the MOP, Ministry Of Planning. It is still in play I would assume as it has not been changed and was recommended for a 3 year period and then reevaluated. If nothing more this may add credence to the "bottom floor" of our investment. With changes since 2009 it should be better than 1.134 with current factors.

Tommy, Sorry I had never seen this. I am a Newbie and apoligize for my rookie mistake. Kinda makes ya wonder though if they cant seat a Government in 7 months after an election it may have taken them a couple of years to get around to this as well. LOL. Just kidding.

Here is the link if anyone wants it. Not sure how old this is or if it has been posted here before. Sorry I am a Newbie! http://www.mop.gov.iq/mop/index.jsp?sid=1&id=308&pid=295&lng=en

Not Sure If anyone has seen this. Read the last bulet point on the page. A 1.134 exchange rate is suggested. This is from a study by the Iraqi Ministry Of Planning. The Exchange Rate of Foreign Currency in Economic Feasibility Studies Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars. Estimate the shadow price of foreign currency: 1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine. The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs. * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar. In particular the following outputs and inputs of foreign currency were distinguished: · Export-outputs. · Outputs marketed locally that substitute imports. · Imported inputs. · Inputs produced locally that usually go to exports. · Foreign labor. According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules. In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency .... etc.). In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency. 2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc. The justifications to call for the use of an exchange rate that is lower than the official exchange rate are: · The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production. · The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs. · The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods. · The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities. · This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of. And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate. 3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

JugDawg, Do not know exactly why but I am starting to like you. My background is in specialized machine shops dealing with pumps, compressors, boilers, valves and other items with military grade machine clearances. Dealt a lot with GE, Nuclear facilities, oil field specialties and a few others. Had a mobile shop, 18 wheeler, as well as southern and eastern permanent locations. Been around it all my life so I appreciate the "roughneck" crew with the best of them!

Start tapping the oil and spreading the wealth and we will all be amazed at how quickly things seem to calm down. Just like in Saudi and the UAE if you give the general populace a good middle wage income you will see a tremendous decrease in internal fighting. What is there to fight over when you have four wives, three mercedes, two good camels, a swimming pool and plenty of hummus and bread to go around!!!!

JugDawg, They also empahsized that the oil in the Kurdish region was not included in the 143 billion barrel amount. There is possibly the largest fields laying dormant in the Kurdish region. this may explain some of the delay in the forming of the government until this situation is resolved internally. I am originally from Louisiana, in the middle of the Tuscaloosa trend, the largest natural gas and oil find in the late 70's. I have owned and operated companies dealing directly with oil field operations, although many moons ago! I agree that some of what they have announced is "unrecoverable with todays technology, although a good amount cna be recovered with flushing and re pressurizing the current wells. It is my belief that their are some killer fields outside of Tobacco 66 that are being argued over as to how the revenues will be distributed. Bottom line is that it all lies inside of Iraqi territory and will only increase the bottom line of the budget. May take a while but once it is revealed there is no turning back!! GO RV!!

Here are the wildcards. Kuwait revalued today as the most expensive currency in the world at 3.45 to 1 USD. With the announcement of an additional 25% of easily recoverable oil reserves this brings Iraq to 143.1 billion barrels of oil. I think you can see a RV of anywhere between .46 USD, the amount of oil at $81.00 a barrel which brings just over 11 trillion dollars divided by the 25 trillion Dinar on the market, or 1.72 USD, half of the Kuwaiti value. I base this on Kuwait having repaired their infrastructure and economy after the invasion, something Iraq must still deal with. Winniing situation either way!

As I stated above this is just my personal opinion, nothing more nothing less. I have no "Insider Information" or "Tidbits" to offer, just my common sense. I think the currency is justifiable by the amount of proven value the country has. Iraq produces very little other than oil. I know they do not want the stigma of the oil curse but I do not see any other justifiable means by which to gauge a reasonable value. Like everyone here, save an antoginizing few, I hope for a unbelievable rate of RV. In a realistic view I CAN justify a RV of between .36 on the low side and possibly .85 on the high side. Without a clue as to how the CBI will make their final decision, this is all I have to go on. Personally I have no problem making between $354,900.00 to $833,900.00 profit off of each million Dinar I own. I promise you would never hear a complaint from me!! Again I am basing my opinion on ONLY the known oil reserves and nothing else. CBI could have some funky formula and multiply my opinion by much more or circumstances might dictate much less. No matter what I cannot under any scenario believe what I own will remain at .00085 much longer. In my belief I will come out on top no matter what!!! What say you??

The one resource that is somewhat stable in value for Iraq is it's oil. Sometime later today Iraq will release it's findings based on new oil exploration and discovery. Basing the value of the Dinar on just known oil reserves is one way possibly the CBI might factor in the partial value of the Dinar. Here are some scenarios I have come up with. Currently there are 115 billion barrels of oil proven to be in Iraq. There are currnetly around 25 trillion Dinar floating around in Iraq and around the world. This could be factored to value the Dinar currently at the following rates based on a 70 USD rate for a barrel of oil: 115 billion barrels= 8.05 trillion dollars, or a Dinar value of .32 USD Now if the press release today shows a significant increase, which we know it will because Iraq has already said it will be a BIG increase, then lets play with the numbers. 230 billion barrels= 16.1 trillion dollars or a Dinar value of .64 USD 300 billion barrels= 21 trillion dollars or a Dinar value of .84 UUSD The biggie that is rumored is an increase of known reserves to 500 billion barrels of oil. 500 billion barrels= 35 trillion dollars or a Dinar value of 1.40 USD I know the Dinar can not be valued on just oil alone, though no one knows what factors the CBI will use for a possible revaluation. I do think it is not out of the realm of reason to assume that the Dinar can at least be valued on known value the country has. Just my opinion and mine alone!

Good Lord no! You took it wrong. I used the phrase War does not pay, I wanted to make clear I was not using that statement in a way to offend anyone who has served in our military. I though the dates and beans was funny!!

One other thing we may want to remember, we have been told that somehow the 3 trillion dollars spent on the war in Iraq would be repaid or returned. At 1.40 revaluation the 5 trillion Dinar the US government holds would become worth 7 trillion dollars. Talk about doubling your money! Who say's that war does not pay? I say that not to belittle our men and women in uniform who have made great sacrifices as well as their families. We thank you for your service and honor that you you have so graciously given. I do however think that our leaders have a different take on worldwide events and would not think twice about profiting off of such events.

Help me here if my thinking is flawed, which it usually is! If Iraq truly has 500 billion barrels of oil that is underground, and it can be pumped, then the following should be reasonable. 1. At current market of 70 USD per barrel, this would equal 35 trillion dollars. 2. Iraq has 25 trillion Dinar on the worldwide market and in country combined. 3. If the oil reservesare worth 35 trillion, this would allow the Dinar to be valued at 1.40 USD each, just based on oil valuation. ie, 35 trillion divided by 25 trillion is 1.4. I think I could live with a 1.40 revaluation of the Dinar!

I would think this is more realistic: 1. If the 500 billion barrels is true. 2. At current market rate of 70 USD per barrel= 35 Trillion dollarrs. 3. There are rumored to be 25 trillion Dinar in the market worldwide. 4. this would give you a valuation of 1.40 USD for each of the 25 trillion dinar. Based on oil value alone. Not sure about you but I could live with a 1.40 revaluation!!

found this on the LOP board posted by REDRV, incredible if true! "FIRST TIME POSTER" WIKIPEDIA STATES NEW GEOLOGICAL SURVEYS SHOW 500BILLION IN OIL RESERVES http://en.wikipedia....eserves_in_Iraq SO DOES THIS MEAN Read more: What would an additional 385 billion barrels make the iraqi valuation come to?? Here is part of the Wikipedia article: Oil reserves in Iraq will be the largest in the world according to recent geological surveys and seismic data.[1] The Iraqi government has stated that new exploration showed Iraq has the world’s largest proven oil reserves, with more than 500 billion barrels.[1] Officially confirmed reserves rank third largest in the world at approximately 115 billion barrels (18.3×10^9 m3).[citation needed] As a result of military occupation and civil unrest, the official statistics have not been revised since 2001 and are largely based on 2-D seismic data from three decades ago. International geologists and consultants have estimated that unexplored territory may contain vastly larger reserves.[2] Possible someone got the info before the press release today, or just speculation??

Iraq is due to release the updated findings of their current oil reserves, untapped, some time this morning. Anybody here have a clue as to how this will affect revaluation? Certainly it would have to be true if they have found a marked increase of the known 115 billion barrels to say double that to 230 or above it would have to cause some effect, right? The country's valuation due to natural resources would have to add value to the currency, would it not? Really curious to see what you guru's, no pun intended, think about this. Thanks in advance!

Don't know but this is what is listed on the forex exchange site: Convert Afghanistan Afghani to US Dollar ؋ 1 = $ 0.0228 ؋ 10 = $ 0.2279 ؋ 50 = $ 1.1396 ؋ 100 = $ 2.2792 ؋ 500 = $ 11.3960 ge site:

With these exchange rates would it not be reasonable to assume the Dinar would be revalued between the Afghanistan currency at .02 and the UAE currency at .27? I know a lot are speculating much higher but would it not make sense to put it above the Afghani and Close to the Dirhan and Riyal? New here so just trying to find a reasonable spread to look forward to. Thanks in advance.

Been watching the dinar for about 2 years. Had a very close and personal friend tell me last week about the opportunity. They did not know I have been watching and following this for over 2 years. I decided to take the plunge and bought 2 million Dinar last week, received them on Thursday. My friend is adamant that the RV will take place in the next 30 days. Any advice from you vets on here? Glad to be here and joined in the faith with you all!!