CBI may not have to honor RV notes outside of country...

[rockfl9]

It is clear, ,reading Section 7 of CBI law we will have to see it changed before the CBI can negotiate even multi-national status for the dinar! Given the strife between the factions there.. How long would it take?

Now I understand the "controlled leak" statement and the emphases on counterfiting, racketeering protection by at least one member of the finance committee.

I also recall a report , over a year ago, that the postal authorities of the Netherlands had confiscated a shipment of dinar as 'Contraband" ( i.e. stolen goods!)

I WONDER if we will hear anything from the dinar dealers about this?

[drc85260]

In reply to the Confewrence Call with Scooter et.al. my response to that specific call would be the same...... which is:

I'm in the middle of listening to the CC..... First time I heard so much discussion about having to possibly go to Iraq to exchange dinar.... What the discussion doesn't take into account is the Presidential Order in tandem with the Provisional Government, saying a US citizen has the same investment rights as an Iraqi citizen etc etc ....

"Presidential Order 13303: Allows US Citizens to invest in the New Iraq . Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen"

"

IRAQ (PRWEB) March 2, 2004 -- Investment in the new Iraq is guaranteed under the Presidential Order 13303 removing sanctions on investment in Iraq . The new order allows for a restructuring of the banking system in Iraq . US citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Business in Iraq".

So maybe its a bit far reaching, but I'm wondering if the "Rule of Law" in the consitution referrred to, means those other than an Iraqi/US citizen per the recognition of the Iraqi government giving both the same rights.... for investment....

Understood the constitution was written after this Presidential Order and the Order of the Provisional Government.... but unless the Iraqi constitution specifically says US citizen no longer has the right of the Iraqi citizen for investment, and is specifically excluded in light of the Provisioinal Gov Order, I can't imagine that has changed.... that the Iraq constitution would specifically exclude a right extended by the Provisional Government....

DId I miss something that covered that? I was listening off and on...

Read more: http://dinarvets.com.../#ixzz1z3lNAY8u

"Presidential Order 13303: Allows US Citizens to invest in the New Iraq ."

I am afraid this could mean "invest in the country only"...meaning that you have to spend your dinar there to rebuild the country.....not use it out of Iraq.

That supports what the CBI law #32 says.

[Luigi1]

"Presidential Order 13303: Allows US Citizens to invest in the New Iraq ."

I am afraid this could mean "invest in the country only"...meaning that you have to spend your dinar there to rebuild the country.....not use it out of Iraq.

That supports what the CBI law #32 says.

Your right. American investors in the Iraq stock market are free to invest & will recieve some protection. Currency speculation is another subject & may not be protected.

[Sanssouci]

Where is Keepmwlknfny with his usual litany about borders being closed?

[RRSport]

The IQD can still be traded. CBI don't have to honor the RV outside of country. Listen to Scooter's last CC about 20 min into the call. Iraq has banking agreements with most nations. The USA is not one of them.

Luigi you just got -7 negs because you burst the dreams of those who dont want to understand all the possible scenarios.

[Sanssouci]

Luigi you just got -7 negs because you burst the dreams of those who dont want to understand all the possible scenarios.

For one, I did not neg him. But I certainly understand BS "nooz" when I read it.

[Carrello]

Read the article again. it merely points out if the note is damaged..

Exactamundo. It is very convenient not to post the complete article, which was posted here yesterday. I wonder if there is a pot that Luigi has not tried to stir.

[1spirit1]

sorry not going to happen. with the U.S. holding almost 4 trillon of there currancy. and take a chance of becoming the the first GLASS PARKING LOT. bIG GUNS MAKE BIG HOLES. Just a passing thought

[Luigi1]

Luigi you just got -7 negs because you burst the dreams of those who dont want to understand all the possible scenarios.

Many folks will be let down if things don't work out as they like.

There are many ways this RV can materialize.

I believe the IQD will adjust to 1,000 to $1 USD making it easier to LOP 3 zeros to 1 to 1. Then a managed RV over two years to the same rate or better than the Kuwait Dinar at roughly 3.5 USD to 1. Call it a hybrid RV if you will but it does remain a possiblility.

[Sanssouci]

sorry not going to happen. with the U.S. holding almost 4 trillon of there currancy. and take a chance of becoming the the first GLASS PARKING LOT. bIG GUNS MAKE BIG HOLES. Just a passing thought

Not trying to be a party pooper, but just to beat Keepmwlknfny to the punch: We believe this - the U.S. holding any of their currency - to be a mere "forum fact." There has not surfaced any documentation to verify the claim, nor will there in all likelihood.

Edited June 28, 2012 by Sanssouci

[rockfl9]

1spirit :: I need proof that UST is "holding" 4T IQD....The US govt does retain an amount of local currency to support US operations in the host country. Sure we have an embasy there and other operations. They must be paid in local currency. So I dont doubt that given the amount of dinar to cover expenses MIGHT be recorded as 4T at times! Nothing to get excited about its gone in 90 days.

[djgabrielie]

Nope dont buy it. How could this be possible? You mean you can pick and choose who you accept your currency from? This is a countrys currency. The decisions you make affect everyone and you can NOT pick and choose. I have always said when it gets close you will start to hear all kinds of really bad rumors to get you to cash in your dinars..

Agreed....

Thanks for the post.

[doctor robbins]

My understanding is that Iraq itself won't exchange dollars for IQD outside of the country. That will remain the responsibility of secondary institutions like banks and currency dealers. Since the banks aren't handling dinar any more that leaves it in the hands of dinar dealers. If they lop as they've been telling us they will, everybody holding dinar will be at the mercy of whoever provides a means of exchange. If Iraq closes their borders like they did in 2004 that could really complicate matters for the dealers. If the dealers can't convert IQD to USD then why would they accept IQD? And if they don't accept IQD then what options would you have? I'm not saying that will happen but it's a possibility and a prudent investor has to consider every contingency.

[skrappyone]

We have already made the Dinar an international currency by investing in it, haven't we? It just isn't listed that way in forex or the IMF. I believe that if the US citizens can invest in land, stocks, and other ventures inside Iraq, then the worry of us being able to trade the dinar for US dollars is an unnecessary worry. The agreement was made between the 2 countries to help both sides. Iraq may not like the Americans but I don't think our government is going to sit idle and watch them mess so many American ivestors out of their money, money that would have been spent supporting the US economy. Think about it, if we can buy their land then why can't we trade their money. Just my opinion, I could be proven wrong, only time will tell.

[1spirit1]

Not trying to be a party pooper, but just to beat Keepmwlknfny to the punch: We believe this - the U.S. holding any of their currency - to be a mere "forum fact." There has not surfaced any documentation to verify the claim, nor will there in all likelihood.

There has not surfaced any documentation to verify the claim, nor will there in all likelihood.

VERY VERY TRUE But again i'll hold true to the fact that they do hold something digital or paper.

Your right about documentation if it would show then the setting prez would not get the slap on the back for a job well done

But all n all just ready to have this over with. So lets get possitive here so we all can feel good once again GOGOGOGOGO RV

BACK TO MY HOLE I GO

[rockfl9]

Skrappyone... WE are free men we can put our money In any "investment " we choose .. If it violates our security laws the govt will do what it legally can agains US citizens.. It does not have that power beyond our borders except where USG have international agreement to enforce.. the whole world does not play by our rules!... I feel exposed , but it is my resposibility ot verify the assumtions on this investment Hope for the best.

[skrappyone]

Skrappyone... WE are free men we can put our money In any "investment " we choose .. If it violates our security laws the govt will do what it legally can agains US citizens.. It does not have that power beyond our borders except where USG have international agreement to enforce.. the whole world does not play by our rules!... I feel exposed , but it is my resposibility ot verify the assumtions on this investment Hope for the best.

I wasn't saying our rules....I was simply stating that the US has more invested intrests other than oil over there. I don't see any of us buying lad over there and building a house to live in there. I do think they will at least make sure we don't get burned. I do however agree with a lot of what you said. Its all good.

If they want to play in the international game though then they will have to play by the written and unwritten rules. Not honoring your currency, no matter what country holds it, is not good business.

[rockfl9]

There are no unwritten rules when it comes to money...Been in a lot of contracts where it didnt seem right . But the words werent there. We will tuff this one out.

But the (dealer(s)) hold the cards for now!

[skitealwedrop]

You can cash in your IQD today if you wish. The fact that IQD is not an internationally currency has no effect on your ability to convert IQD to USD. The CBI has to back their (non counterfeit) currency. It's a rather simple concept if you think about it. To imply that the CBI is not responsible for backing IDQ outside of Iraq is false.

Throw your concerns to other senior members and you will understand, quickly. This would be a good topic to address in chat next week.

[rockfl9]

OK I challenge you . Give me any place $850/M for my dinar . Ill pay shipping but no other fees!.. I.m ready!

[easyrider]

OK I challenge you . Give me any place $850/M for my dinar . Ill pay shipping but no other fees!.. I.m ready!

make a thread and sell your dinar stop whining.

[jg167]

My understanding is that Iraq itself won't exchange dollars for IQD outside of the country. That will remain the responsibility of secondary institutions like banks and currency dealers. Since the banks aren't handling dinar any more that leaves it in the hands of dinar dealers. If they lop as they've been telling us they will, everybody holding dinar will be at the mercy of whoever provides a means of exchange. If Iraq closes their borders like they did in 2004 that could really complicate matters for the dealers. If the dealers can't convert IQD to USD then why would they accept IQD? And if they don't accept IQD then what options would you have? I'm not saying that will happen but it's a possibility and a prudent investor has to consider every contingency.

When they RD both IQD and new (call it NID) currencies will exist in the market for one year and IQD will be exchangeable at the CB (or maybe any bank) for several years (ten?) then the borders can not be closed. The risk to current IQD holders is that the dealers that now are paying the CBI rate (DinarBanker for example advertises $860/Million) do so only as they can resell them for $1100/M. So once the RD is in full swing no one is going to be buying dinars at all, let alone at $1100/M. So the dealers will likely lower their offers to buyback to something like $600 or $700/M . But I don't see any reason that the dealers will not be able to just reverse the flow they are using now to get them back to Iraq. So getting stuck for a 100% loss seems very very unlikely to me.

I'm not even sure the borders were closed in 2004 for the first exchange. The exchange went on for 2-3 months, not just a couple of days, so did they really close the border to all traffic for that long?

[skitealwedrop]

OK I challenge you . Give me any place $850/M for my dinar . Ill pay shipping but no other fees!.. I.m ready!

You can cash out tomorrow if you want to. There are plenty of avenues to sell IQD. Call the local banks in your area first. $850 per mil sounds too low. As Easy suggested, there are many on this forum that are interested in purchasing. Post a thread.

[jg167]

OK I challenge you . Give me any place $850/M for my dinar . Ill pay shipping but no other fees!.. I.m ready!

Dinarbanker is advertising $860/M and private sales, at least up to a couple of months ago when I sold mine, were $900-$1050/M. There seem to be folks in the buy/sell forum still doing so for roughly that range.

[doctor robbins]

What you people are missing is that the banks have quit dealing with the dinar and after Iraq lops nobody in the forums will be buying and nobody on ebay will be buying. The dealers might be buying but only if they have a means of exchanging it for dollars themselves. Sure, before the redenomination you have options, but once it goes down what will your options be? That's the question. It could very well turn into a game of musical dinars where whoever is holding it when the music stops is the loser.