Traveler12

Yeah I don't waste my time posting on these sites. I read and keep my mouth shut. I thought this site was better and something a little different. My mistake! By speculators, I am referring to those who buy physical notes from guys like Ali and just sit on them. Most speculators don't have accounts! Yes I have a nice account with Warka. Med opened my account for me in 2005. You wonder why folks only read these sites, laugh and never post....can't put a sentence together...moron.... liar...why would I bother to post anything else on this site. Do your own research. I am sure some of you are serious but how do you put up with jerks here. Mods you can delete my posts if you like. Good bye!

My CD's at Warka just matured and I e-mailed for my balance and to open new CD's. I ask Mr. Issa how the raising of 3 zero's would effect the balances of Warka depositors and ISX investors. Of course, he was vague as they are not allowed to comment on what the CBI/parliment is doing until it is official and they have been notified by CBI. He said IF regarding raising 3 zeros but specifically said WHEN regarding a revalue. The other thing that was clear is, as he is pointing out in a round about way, is that private banks and ISX accounts carry dinar value out to three places. ie: my account balance is XXXXXXXX.194. IMO from reading his e-mail it is clear that the CBI and private banks care nothing about speculators. They do nothing for the banks so the bank care little about how their speculation turns out. I don't think the CBI ever wanted dinars outside the ME until they were ready to go international. This is about value, not quantity. A 25,000 IQD note x .0086 is $21.50. 25 dinar note x .86 is $21.50. However when it comes to raising 3 zeros then revalue at 1:1 that $21.50 becomes $25.00. Certainly not the $25,000 speculators had hoped for. If anyone believed that an investment of about 1/10 of a cent ($1220 for 1000000 IQD) was going to become $25,000 you must spend a lot of time chasing rainbows for the pot of gold at the end. It appears that depositors and investors will likely dodge the bullet on the 3 zeros thing and be rewarded.

Here is some good news! Several years ago I had a very good trip to Vegas. On a lark, I opened an account at Warka Bank with the winnings. NID's were 1USD = 1475 NID at that time. Over the years I have put the funds in CD's and as each one matures, I draw a little back. I recently did my last "recovery" withdrawal. I have all my investment back and several million dinars in my account. I don't have a Citibank account. I just send them an e-mail withdrawal request with wiring instructions and in a week or two I get the money. No problems. I have a MasterCard debt card as well but I don't like to use it because of MasterCards huge fees. I can't get 10% interest in the US. 1470 down to 1170 helped too. Granted, Warka Bank is sometimes slow in answering e-mails. Remember they didn't do much internet under Saddam. US citizens who have little knowledge concerning international banking often judge foreign banks by US banks operating standards. Almost every country has differences in their banking regulations. Ever deal with Dominican Republic or Argentina? They have some real peculiar ideas on banking. As an example, there is a rumor that AsiaCell is suing Warka because they will not return some $29 million in Dinars. It is not Warka's call. AsiaCell owes ZunneCell huge piggybacking fees and their Warka account has been frozen. This happens in the US every day. Warka enjoys the full faith and backing of the CBI just as Chase or BOA does with the Fed. Don't you think maybe recent issues with US banks scared the bejesus out of foreign depositors? Do you really think the ISX would continue with Warka if they were bankrupt? Non-sense! Warka is the largest private bank in Iraq. Iraqi banking regulation do not allow banks there to make public statements about every little issue. Much of the information we see about banks in the US is considered confidential in most foreign banks. Recent changes in IT in Iraq (as mentioned in the Rumor sections of several forum as a pre-r/v issue) have caused some operational problems for all Iraqi banks. Pumpers see Warka as competition and the idea that Warka Bank is a much smarter choice than having physical dinars shoved under your mattress gives them considerable heartburn. There is not much you can do with physical notes but sit (or lay) on them. There is no debit card or conversion to USD right into your US account with paper notes. Just my opinion.

Oh Oh! Bet there is going to be trouble tomorrow at DD's site and Ali's store. DD hyped it Ali sold it Ali just let the air out of the hype. Wonder what DD's cut was? There was a song, oh ya.."The Nickle Song." They must know something is coming real soon and it is not as advertised. I think they are doing some CYA.