article from forbes magazine

[WYOMING]

Mr. xxxxx

Just in case you would like to know I found this coments on one of the pages of FORBES

"The UST estimates that 2+ million Americans own the IQD. They own this investment for one reason, Iraq as a sovereign country must revalue its currency. Iraq has in it possession the 2rd largest oil reserves in the world.

The Bush administration did set this entire plan up which is fashioned after GHWB’s Kuwaiti dinar revalue back in 1993.

Would the revaluation benefit the USA, you bet through the capital gains taxes AND the FACT that the UST has in its possession approximately 3-5 trillion Iraqi dinar."

C.W3

Has anyone ever seen this article from Forbes? I don't know anything about it, or the date. Just passing it along.

[lotsofdinar]

It's just a comment someone made under a story.

[Dah-kota]

Sounds good to me !

Go>>>>>RV

[Islandgirl7]

How did it come to you? was it a page torn from the magazine, copied and forwarded? Or was it simply an email?

[cooked]

This circulated last year too.

[sportfisher]

git r dun

[WYOMING]

How did it come to you? was it a page torn from the magazine, copied and forwarded? Or was it simply an email?

It was emailed to me. I met this person at my work. He is a customer that i was talking to and in our conversation, he told me he works for Shell Oil and works all around the world, mostly in the Persian Gulf area. When he told me this, I asked him if he new anything about the IQD.Come to find out, he owns a lot of it. He bought it a long time ago and hasn't kept up with it. He said the last time he even checked on it was about 2 years ago. He told me last night when I talked to him again, that I had sparked his interest in it with all the news I have heard lately.

In our first conversation he said that will eventually go up one day, but "Iraq has to become part of the World Bank first"

I was just excited to have a little bit of news to share with you all.

[mrref]

Mr. xxxxx

Just in case you would like to know I found this coments on one of the pages of FORBES

"The UST estimates that 2+ million Americans own the IQD. They own this investment for one reason, Iraq as a sovereign country must revalue its currency. Iraq has in it possession the 2rd largest oil reserves in the world.

The Bush administration did set this entire plan up which is fashioned after GHWB’s Kuwaiti dinar revalue back in 1993.

Would the revaluation benefit the USA, you bet through the capital gains taxes AND the FACT that the UST has in its possession approximately 3-5 trillion Iraqi dinar."

C.W3

Has anyone ever seen this article from Forbes? I don't know anything about it, or the date. Just passing it along.

[

Edited February 3, 2012 by mrref

[WYOMING]

Did you actually see the page? Did it say Forbes? There should a date on the page, what was the date that this was put out? Who sent it to you?? You need to look into this kind of article to verify if there is any truth to it before you post....

Why do you think I put it in the rumors section????

[Blu Collar Guru]

Mr. xxxxx

Just in case you would like to know I found this coments on one of the pages of FORBES

"The UST estimates that 2+ million Americans own the IQD. They own this investment for one reason, Iraq as a sovereign country must revalue its currency. Iraq has in it possession the 2rd largest oil reserves in the world.

The Bush administration did set this entire plan up which is fashioned after GHWB’s Kuwaiti dinar revalue back in 1993.

Would the revaluation benefit the USA, you bet through the capital gains taxes AND the FACT that the UST has in its possession approximately 3-5 trillion Iraqi dinar."

C.W3

Has anyone ever seen this article from Forbes? I don't know anything about it, or the date. Just passing it along.

NOT I & WOULD APPRECIATE A LINK PLZ?????????? OTHER WISE PPL WILL BELIEVE IT 2 B PURE GARBAGE!

[mrref]

Mr. xxxxx

Just in case you would like to know I found this coments on one of the pages of FORBES

"The UST estimates that 2+ million Americans own the IQD. They own this investment for one reason, Iraq as a sovereign country must revalue its currency. Iraq has in it possession the 2rd largest oil reserves in the world.

The Bush administration did set this entire plan up which is fashioned after GHWB’s Kuwaiti dinar revalue back in 1993.

Would the revaluation benefit the USA, you bet through the capital gains taxes AND the FACT that the UST has in its possession approximately 3-5 trillion Iraqi dinar."

C.W3

Has anyone ever seen this article from Forbes? I don't know anything about it, or the date. Just passing it along.

This is actually an old article that was put out a few years ago.

[Blu Collar Guru]

HMMMMMMMMMMM............... SO, THE SHELL GUY THAT BOUGHT DINAR YEARS AGO HASN'T KEPT HIMSELF IN THE LOOP IN YEARS YET,

HE EMAILS THIS INFO ABOUT DINAR?! HMMMMMMMMMMM......................

[Choppermike]

HMMMMMMMMMMM............... SO, THE SHELL GUY THAT BOUGHT DINAR YEARS AGO HASN'T KEPT HIMSELF IN THE LOOP IN YEARS YET,

HE EMAILS THIS INFO ABOUT DINAR?! HMMMMMMMMMMM......................

Hey blue collar, give the guy a break. It's in the rumors section, NUFF SAID.

[Sparky69]

HMMMMMMMMMMM............... SO, THE SHELL GUY THAT BOUGHT DINAR YEARS AGO HASN'T KEPT HIMSELF IN THE LOOP IN YEARS YET,

HE EMAILS THIS INFO ABOUT DINAR?! HMMMMMMMMMMM......................

Because his conversation with Wyoming sparked renewed interest.Not really that hard to understand.......or is it????

Edited February 3, 2012 by Sparky69

[WYOMING]

HMMMMMMMMMMM............... SO, THE SHELL GUY THAT BOUGHT DINAR YEARS AGO HASN'T KEPT HIMSELF IN THE LOOP IN YEARS YET,

HE EMAILS THIS INFO ABOUT DINAR?! HMMMMMMMMMMM......................

Yep, that is what said.

[Carrello]

Prior to posting, a Google search is good tool if you want to see if something is authentic, or I will really go out on a limb and suggest a visit to Forbes.com and look for the article.

Rather conflicting perspectives from Forbes, if the email is authentic:

January 19, 2012

http://www.forbes.com/sites/johnwasik/2012/01/19/the-curse-of-saddam-iraqi-dinar-deals/2/

The Curse of Saddam: Iraqi Dinar Deals

John Wasik, ContributorThis is not something I would invest my nest egg in, so be careful.24 comments, 1 called-out +

Saddam Hussein may be long gone from Iraq, but speculation in his currency persists like a poltergeist.

The Iraqi dinar has been the recent object of desire of foreign currency operators selling mostly on the Internet. The pitch goes something like this: “Buy dinars because the current government will revalue the currency and you will get rich.”

As with most other hyperbolic pitches, the promise of wealth is couched in language like “sure to appreciate” and “virtually guaranteed.” There’s absolutely nothing guaranteed in the foreign currency world, which is absurdly speculative and nearly unpredictable.

Certified Financial Planner Bryan Hancock of Timberchase Financial in Birmingham, Alabama, tipped me off to this scheme:

“Apparently, there are those who are selling Iraqi paper Dinar in the US. From what I can gather, they convince people that the exchange rate will be `reset’ as some point in the future so the value in USD will go up 100 fold,” Hancock emailed me. “Their “basis” for this argument is that this is what happened with the Kuwaiti currency after the first gulf war.”

I have a client who fell for this at the insistence of her son in law,” Hancock continues. ”I have had two people call me for advice on how to invest their windfall — both convinced that they would gain in excess of a $1 million — money coming to them at a date in the future when the currency reset. All three were people who have little to no financial knowledge. All three had stuffed a local safe deposit box with the paper currency. Best I can tell, the currency is being sold at a 40% premium over its market rate.

What the victims don’t realize is that, in this case, if a reset of the Iraqi currency were a sure thing, the person selling it would be hoarding it, not giving away this special information. The victims don’t realize that this known information has already been reflected in the current price. If the market price did not move, then the market collectively does not believe that the price will be reset.”

Image via Wikipedia

There are some more nasty wrinkles to what’s behind the dinar curtain. It’s illegal for U.S. dealers to market investments without securities licenses, althouPage 2 of 2

There’s also no active market for dinars, nor does it trade on a highly regulated exchange such as the one operated by the CME Group. So while you can probably buy plenty of dinars, you’d have a difficult time selling them. And to make money, you’d have to exceed the steep commissions charged by the operators.

What about the ongoing crisis that the Iraqis face in trying to keep their government together and rebuilding the country after more than a decade of war and internal strife? In most developing countries, it’s unlikely that their currency will rapidly appreciate. Most of the time their biggest problem is inflation, which devalues currencies. And since the dinar is valued so low relative to other major currencies, it may be demonetized, meaning the government may start over and issue a new currency at new values. That would make the dinar worthless.

As is usually the case, regulators are slow to catch up with these dealers. The best alert I could find came from the Washington State Dept. of Financial Institutions (http://www.dfi.wa.gov/consumers/alerts/iraqi-dinar-scams.htm):

“Several websites have recently begun advertising investment opportunities in Iraqi dinars. These websites are asking the consumers to send a check, wire, money order, or pay cash upon delivery of the dinars. What consumers are not told is that the dinars can be redeemed only in Iraq, as most of the established currency exchange houses and banking institutions cannot convert the dinar to US dollars. Since no exchange exists for the Iraqi dinar, dealers can charge whatever they want to sell and buy back the dinars.

These dealers often register with the U.S. Treasury as a Money Services Business (MSB). An MSB registration is nothing more than a form they file; it does not reflect any experience in trading currency nor entail any qualifications on the part of the dealer, other than basic anti-money laundering requirements. The reason dealers seek this registration is to lend legitimacy to their scam and avoid more stringent regulation.

In addition, most of these websites are operating illegally in Washington State, without a currency exchange or money transmission license issued by the Washington State Department of Financial Institutions. Make sure you only deal with licensed, legitimate companies when making financial decisions.”

That’s not to say the Iraqis can’t pull things together and use their oil wealth to build a functioning market-based democracy of some kind. Financial stability is key to any currency’s market value. After all, the country embraces the fertile crescent that was the cradle of Western Civilization. But it won’t take much of a history lesson to tell you that the world is littered with illiquid currencies from troubled countries and Iraq is a royal mess right now, so your dinar investment may be as viable as a flying carpet.

gh currency operators can often get around this by signing a form with the U.S. Treasury Department calling them “money service businesses” and marketing the currency as if it was a collectible. This is far from a rigorous securities brokerage license; it’s little more than a piece of paper.

[Shick]

I own some too! go rv go!

[iinvest2]

I also as well saw this article and can verify the fact that when I say it and read it at thanksgiving approximately 2 months ago that the article stated that the amount of dinar that bush had Iraq set aside into the UST. Was approximately 4- 7 trillion dinar so the article was in fact real and that was how Iraq was going to repay the US for the war...this was the main bit of info. That really made my mind up on this investment... And the fact that bush.. Perry..and no telling who else is into this deal very strong... So let's Go RV

[cooked]

Carello, not sure why someone gave you a neg for a good read. Got your back. Thanks for your input.

[HopefulTxn]

I also as well saw this article and can verify the fact that when I say it and read it at thanksgiving approximately 2 months ago that the article stated that the amount of dinar that bush had Iraq set aside into the UST. Was approximately 4- 7 trillion dinar so the article was in fact real and that was how Iraq was going to repay the US for the war...this was the main bit of info. That really made my mind up on this investment... And the fact that bush.. Perry..and no telling who else is into this deal very strong... So let's Go RV

It didn't come from a Forbes article, it came from a comment left on a Forbes article that the user didn't agree with the determination of the author.

Here is a link to the Forbes article (LINK).

At the very bottom of the article is the comment that is being restated in the OP.

[Carrello]

Carello, not sure why someone gave you a neg for a good read. Got your back. Thanks for your input.

Thanks Cooked. I owe you one....or one cocktail with an umbrella when we get to Vegas. Take your pick.

[Benjamin NutnYahoo]

Mr. xxxxx

Just in case you would like to know I found this coments on one of the pages of FORBES

"The UST estimates that 2+ million Americans own the IQD. They own this investment for one reason, Iraq as a sovereign country must revalue its currency. Iraq has in it possession the 2rd largest oil reserves in the world.

The Bush administration did set this entire plan up which is fashioned after GHWB’s Kuwaiti dinar revalue back in 1993.

Would the revaluation benefit the USA, you bet through the capital gains taxes AND the FACT that the UST has in its possession approximately 3-5 trillion Iraqi dinar."

C.W3

Has anyone ever seen this article from Forbes? I don't know anything about it, or the date. Just passing it along.

Errrr...uhhh...looks like what I wrote sometime ago...if its in Forbes I need to be credited.....and paid.

[uncirculd]

Mr. xxxxx

Just in case you would like to know I found this coments on one of the pages of FORBES

"The UST estimates that 2+ million Americans own the IQD. They own this investment for one reason, Iraq as a sovereign country must revalue its currency. Iraq has in it possession the 2rd largest oil reserves in the world.

The Bush administration did set this entire plan up which is fashioned after GHWB’s Kuwaiti dinar revalue back in 1993.

Would the revaluation benefit the USA, you bet through the capital gains taxes AND the FACT that the UST has in its possession approximately 3-5 trillion Iraqi dinar."

C.W3

Has anyone ever seen this article from Forbes? I don't know anything about it, or the date. Just passing it along.

found the link to this story

http://www.forbes.com/sites/greatspeculations/2011/07/27/is-the-iraqi-dinar-worthless-paper-or-maker-of-millionaires/

[wingit]

found the link to this story

http://www.forbes.com/sites/greatspeculations/2011/07/27/is-the-iraqi-dinar-worthless-paper-or-maker-of-millionaires/

Just read the article on the link and learned a few things about tax implications. I was laboring under the thought that at RV we would only pay the capital gain rate at 15%. Not so if you hold physical currency. Your on the hook at ordinary income rates.

[Soldier]

If this is true. I see this happening before the next U.S Elections. I said years ago that this would be a political tool and nobody was going to use it until they needed it. I see Obama using this to win the next election (Not that this is what I want). JMO