Personal Experience with Kuwait RI/RV

[Doc31]

Thanks for the post

[Niko]

Using the dates above frm forex its hard to find where the jump is. Heres the link to oanda, you can back date to see the exchange rate at that time.

3/25/1991 the kd rate was 3.47. I have not checked every single day but going back to 90 (I think that is as far as it goes) the rate generally stays in about the same range.

oanda link kd to usd

[Dogmatic1]

 OK...Here comes damage control. We wil see a whole lot of stories to prevent the masses from Dumping DINAR this week.

People are getting smart and not buying into all of this DINAR hype.

The illiterate are attracted to the investment like a moth to a flame. Another unreadable post that is barely understandable.

So are you a MOTH or a FLAME!? In other words; are you an investor or perhaps another opportunist? Looking for the vulnerable to prey upon?

Seriously, if you are not invested in dinar - you need to go away!!!!

[JenGirl321]

I just think that an 80% spread is insanely high. I hope we don't have to deal with those rates. Hopefully the CBI rate will be better so that going to Ali would be worth it.

[kingfish]

Thanks for the post!

[paRVenu8]

Captainconrad- Are those muscles I'm seeing? Have you been working out??? And look at all that beautiful thick hair. I'm sure you must have all the girls hanging on you!! They love all that rugged manly wording you use.......like "damage control" and, "masses" and......................................"wil"? I'm not sure what that word is, BUT I AM BLOND you know, give me some slack! Those other guys on this post, can't hold a candle to your intellect!!!

LMAO...LOL!

Teresa82, you ROCK girl!!!!!!!!!

[bears85]

i was in Desert storm, It never occurred to me to buy Dinars at that time .

[kjwayne]

Captainconrad- Are those muscles I'm seeing? Have you been working out??? And look at all that beautiful thick hair. I'm sure you must have all the girls hanging on you!! They love all that rugged manly wording you use.......like "damage control" and, "masses" and......................................"wil"? I'm not sure what that word is, BUT I AM BLOND you know, give me some slack! Those other guys on this post, can't hold a candle to your intellect!!!

YOU GO GIRL!!!! LOVE IT!!! RRVV!!

agree wholeheartedly the spelling alone is enough to reduce his credibility !!!

THIS IS NOT ABOUT GRAMMER!!! GO RV!!

[Jan]

Wow thanks for the post. There truly is a pot of gold at the end of the rainbow!!

[RicknSaudi]

Using the dates above frm forex its hard to find where the jump is. Heres the link to oanda, you can back date to see the exchange rate at that time.

3/25/1991 the kd rate was 3.47. I have not checked every single day but going back to 90 (I think that is as far as it goes) the rate generally stays in about the same range.

oanda link kd to usd

As much as I'd like to believe this, all the historical rates EVER published do not reflect this kind of activity. Yes, there was a small "black market" factor, and yes, there was diminished confidence on the border regions, but at the risk of calling this person a "story teller", I would be inclined to share this small extract from Oanda giving the interbank rate of the KWD from Aug 1st, '90 to Jun 30th, '91. Bear in mind that the 1st Gulf War lasted from Aug 2nd, '90 to Feb 28, '91. I've extended the query to 4 months beyond when Kuwait was finally liberated. My fellow Dinarian's, this is bogus!

KWDHistRate_90_91.txt

[bulldawg]

A chat this morning with one of our very own, relaying his experience with the Kuwait currency ... as an encouragement to others, Ronin allowed us to post his chat! Read and enjoy!

[Ronin7043] babydoll77 but i was in on the kuwait ri

[gwright] less than a year

[babydoll77] Ronin7043 when was that?

[gwright] Ronin7043 some say that never happened   

[steveh12] this Dinar Investment is like a Marrige

[Ronin7043] babydoll77 in the 90s

[Ronin7043] gwright well i'm here to tell you they are wrong

[LeeB32] we still have lots of funny money I see

[babydoll77] gwright we will have to pay short gain tx.huh

[babydoll77] steveh12 how so?

[Ronin7043] gwright or where you talking that it never happened with me?

[gwright] babydoll77 with my income so low and not being heabily invested I really don't know

[gwright] heavily

[steveh12] Your Excited the First Year, then its just there   

[babydoll77] steveh12     

[steveh12]  

[gwright] Ronin7043 no was laughing some say there never was an ri for kuwait and here you are saying oh in fact it did

[edavis] Ronin7043 hey buddy how's it going

[Ronin7043] edavis hey how are you

[edavis] great

[edavis] wanted to ask you

[Ronin7043] edavis ok

[edavis] when the kuwait dinar rvvvvvvvvvvv'd was there a lot of misinfo out leading up to the rv

[gwright] Ronin7043 wasn't saying you weren't telling the truth sorry if it sounded that way

[edavis] or did you guys have a good idea it was going to hit when it did

[babydoll77] edavis good question

[steveh12] Did edavis raise His Hand?

[babydoll77] steveh12 pay attention   

[edavis] steveh12 don't you want to know

[steveh12] DOH

[Ronin7043] edavis there was no enternet then so the info was comeing from boots on the ground and the currency people ( sellers) so the info was almost the same but not as much

[Ronin7043] gwright is ok

[gwright] Ronin7043 guess I am being nosey but how well did you do with the kuwait ri?

[luckylucy] Ronin7043 did you buy the currency like we are buying dinars now?

[Ronin7043] i was lucky in that the guy that got me in had a brother over thier and it told us when he phoned home once a month

[gwright] or rv

[steveh12] Bout Time Lucy

[Ronin7043] my father and it went in for XXXXXXXXXXX and we used the friend that was over there

[gwright] boy I am glad there is some actual chat going on was getting depressed

[steveh12]  

[edavis] Ronin7043 did you just wake up one morning rich..or were you really on top of it once a month via the phone calls

[luckylucy] gwright   

[Ronin7043] on morning at 2.30 am ny friend got a call from is brother and it was on after that

[steveh12]  

[gwright] luckylucy   

[gwright] wow like christmas morning

[Ronin7043] me and my father took a hit in the spread, we didn't know where else to go to cash

[babydoll77] Ronin7043 what do you mean took hit in spread?

[gwright] hmmm just gave me an idea

[Ronin7043] bank took .80 off the top

[luckylucy] Ronin7043 yuuukkkk

[steveh12] Its Christmas?

[babydoll77] Ronin7043 ouch!!

[gwright] have dinar for my kids will put up tree quickly and put dinar in big boxes when it rv's

[antfuzz] The spread is the difference between the buy and sell rate

[steveh12]  

[babydoll77] gwright gwright     

[gwright] steveh12 one dinar in each box

[gwright] serious   

[steveh12] Scrooge

[steveh12]  

[edavis] Ronin7043 yeah but at 7.00 exchange rate...80 is nothing

[Ronin7043] the think is we waited to cash we where told the it wes going up it came in at 1.10 almost two months it went to 7.00 then my dad freaked and wanted out

[gwright] scrooge...they don't know how much I bought for them

[Ronin7043] so we sold

[gwright] Ronin7043 good job !

[Ronin7043] but one month later it went to 9.00 then one week later it went to 3.90 where it is today

[edavis] Ronin7043 boy...what a ride

[steveh12] and now you are talking to the little people

[gwright] wow can't waite to do the christmas tree thing now

[gwright]  

[Ronin7043] if it wasn't for my dad i might of waited and lost out at 3.90

[steveh12] gwright   

[gwright] steveh12 I'm like a little kid   

[steveh12] BBL Gang

[edavis] Ronin7043 it's really nice to hear from someone..who's been their, not just speculating. I was active duty mil. during that time but missed out...but not this time

[steveh12] Bye

[luckylucy] Ronin7043 wow ... I wish you'd post this ... just as encouragement for others.

[Ronin7043] edavis thank you for your service

[gwright] Ronin7043 yes ty for sharing that has lifted my spirits a lot!!!!!

[luckylucy] these things really do happen! Ronin7043

[Ronin7043] yw

l

I have to call BS on this one. See my post on another thread: Iraq invaded Kuwait on 2 Aug 1990. The Iraqi army sacked the Central Bank of Kuwait and made off with all their foreign currency reserves, gold and reserves of Kuwaiti Dinars.

Operation Desert Storm commenced on 28 Jan 1991 and the cease fire was ordered by President Bush on 2 Feb 1991.

Because Kuwait's currency was "Corrupted", the value fell to almost nothing. De la Rue printed the Kuwait Dinars and the plates were not kept in Kuwait, therefore, it was a simple matter to print new notes using a different color ink. There was a window in which the old notes could be exchanged for the new notes.

As a civilian contractor, I arrived in The Islamic State of Kuwait late on 2 Sept 1991. None of the oil well fires had been extinguished. As we approached Kuwait City, I had the un-nerving sensation that I was descending into the bowls of hell.

By the time I arrived in country the exchange was nearly completed; only new dinars were accepted as legal tender and the exchange rate was $3.47 to the dinar--much the same as it is today. The only money made was by a very few who acquired old dinars and then exchange them for the new notes. This transaction was in country only.

I did not know any one, ex-pat or Kuwaiti who made a killing on this exchange. I seriously doubt anyone who say they did.

Hope this helps,

Dawg

Read more:

[sgtmoreno]

A chat this morning with one of our very own, relaying his experience with the Kuwait currency ... as an encouragement to others, Ronin allowed us to post his chat! Read and enjoy!

[Ronin7043] babydoll77 but i was in on the kuwait ri

[gwright] less than a year

[babydoll77] Ronin7043 when was that?

[gwright] Ronin7043 some say that never happened   

[steveh12] this Dinar Investment is like a Marrige

[Ronin7043] babydoll77 in the 90s

[Ronin7043] gwright well i'm here to tell you they are wrong

[LeeB32] we still have lots of funny money I see

[babydoll77] gwright we will have to pay short gain tx.huh

[babydoll77] steveh12 how so?

[Ronin7043] gwright or where you talking that it never happened with me?

[gwright] babydoll77 with my income so low and not being heabily invested I really don't know

[gwright] heavily

[steveh12] Your Excited the First Year, then its just there   

[babydoll77] steveh12     

[steveh12]  

[gwright] Ronin7043 no was laughing some say there never was an ri for kuwait and here you are saying oh in fact it did

[edavis] Ronin7043 hey buddy how's it going

[Ronin7043] edavis hey how are you

[edavis] great

[edavis] wanted to ask you

[Ronin7043] edavis ok

[edavis] when the kuwait dinar rvvvvvvvvvvv'd was there a lot of misinfo out leading up to the rv

[gwright] Ronin7043 wasn't saying you weren't telling the truth sorry if it sounded that way

[edavis] or did you guys have a good idea it was going to hit when it did

[babydoll77] edavis good question

[steveh12] Did edavis raise His Hand?

[babydoll77] steveh12 pay attention   

[edavis] steveh12 don't you want to know

[steveh12] DOH

[Ronin7043] edavis there was no enternet then so the info was comeing from boots on the ground and the currency people ( sellers) so the info was almost the same but not as much

[Ronin7043] gwright is ok

[gwright] Ronin7043 guess I am being nosey but how well did you do with the kuwait ri?

[luckylucy] Ronin7043 did you buy the currency like we are buying dinars now?

[Ronin7043] i was lucky in that the guy that got me in had a brother over thier and it told us when he phoned home once a month

[gwright] or rv

[steveh12] Bout Time Lucy

[Ronin7043] my father and it went in for XXXXXXXXXXX and we used the friend that was over there

[gwright] boy I am glad there is some actual chat going on was getting depressed

[steveh12]  

[edavis] Ronin7043 did you just wake up one morning rich..or were you really on top of it once a month via the phone calls

[luckylucy] gwright   

[Ronin7043] on morning at 2.30 am ny friend got a call from is brother and it was on after that

[steveh12]  

[gwright] luckylucy   

[gwright] wow like christmas morning

[Ronin7043] me and my father took a hit in the spread, we didn't know where else to go to cash

[babydoll77] Ronin7043 what do you mean took hit in spread?

[gwright] hmmm just gave me an idea

[Ronin7043] bank took .80 off the top

[luckylucy] Ronin7043 yuuukkkk

[steveh12] Its Christmas?

[babydoll77] Ronin7043 ouch!!

[gwright] have dinar for my kids will put up tree quickly and put dinar in big boxes when it rv's

[antfuzz] The spread is the difference between the buy and sell rate

[steveh12]  

[babydoll77] gwright gwright     

[gwright] steveh12 one dinar in each box

[gwright] serious   

[steveh12] Scrooge

[steveh12]  

[edavis] Ronin7043 yeah but at 7.00 exchange rate...80 is nothing

[Ronin7043] the think is we waited to cash we where told the it wes going up it came in at 1.10 almost two months it went to 7.00 then my dad freaked and wanted out

[gwright] scrooge...they don't know how much I bought for them

[Ronin7043] so we sold

[gwright] Ronin7043 good job !

[Ronin7043] but one month later it went to 9.00 then one week later it went to 3.90 where it is today

[edavis] Ronin7043 boy...what a ride

[steveh12] and now you are talking to the little people

[gwright] wow can't waite to do the christmas tree thing now

[gwright]  

[Ronin7043] if it wasn't for my dad i might of waited and lost out at 3.90

[steveh12] gwright   

[gwright] steveh12 I'm like a little kid   

[steveh12] BBL Gang

[edavis] Ronin7043 it's really nice to hear from someone..who's been their, not just speculating. I was active duty mil. during that time but missed out...but not this time

[steveh12] Bye

[luckylucy] Ronin7043 wow ... I wish you'd post this ... just as encouragement for others.

[Ronin7043] edavis thank you for your service

[gwright] Ronin7043 yes ty for sharing that has lifted my spirits a lot!!!!!

[luckylucy] these things really do happen! Ronin7043

[Ronin7043] yw

l

Today's rate IQD?USD is $.0009 what was the rate that you purchased your Kuwaiti Dinars at before the RI/RV? I understand that your rate went as high as $9.00, fantastic but I would like I'd like to keep things into perspective with our current investment. Thanks for the info. GO RV!!!!!!!!

[mhl0521]

I think he was blowing smoke....

[faithkeeper]

what do you mean by this ???

[Ronin7043] bank took .80 off the top

are we going to lose 80% of our investment to a spread? i do not know much about this and im sure it shows but im trying to learn and could use some help ! if this is true i need to up my investment to make something !

[bjdksl]

WOW! what a great post! Thanks ronin for taking us through your experience with the Kuwait dinars and congradulation. Now my only hope is that we are next in line to receive the same blessing that you have received.

[Traconesu02]

Thanks for posting the chat luckylucy

[Traconesu02]

I missed this back in May. TY

[mhl0521]

I did not see this thread and started another one a few days ago....I have my doubts about the Kuwait RV. Nothing shows up anywhere to back it up and this previous chat....well, again nothing to back it up. Not to try to dampen the spirits of the Iraqi Dinar holders as it is a totally different scenario....so I remain positive this will work out. I don't think that when people say it can happen cause it happened in Kuwait, it holds any water. If I am wrong then somebody show me the money.

Edited August 10, 2010 by mhl0521

[Niko]

mhl0521 I dont buy the chat either.

[Preach]

edavis!

Teresa, this is Preaches wife, I have been reading your comments, and I just had to take the time to say your good, love to see your posts!

[Bobbydee]

Great post. I'm in it for the long haul. Some people have been it a very long time and if they can do it then I should be able to do the same. I just hope and pray it's sooner. Go RV God Bless Semper Fi

[inmemoryofrob]

I just think that an 80% spread is insanely high. I hope we don't have to deal with those rates. Hopefully the CBI rate will be better so that going to Ali would be worth it.

I think he meant an 80 cent spread. Like instead of $7, they only exchanged at $6.20.

Correct me if I'm wrong! But, ask my husband, that never happens! lol

[jmw]

Kuwait has never been above $3.55 ever.....and is a very different situation than Iraq...not even close...and this is easily verified through the IMF website....currency value doesn't move like stock prices...the Kuwait dinar was pegged to the dollar at that time.

[Steveruss]

Thanks for the post

[Dinarmonsta]

agree wholeheartedly the spelling alone is enough to reduce his credibility !!!

And why is that?Only the rich and wealthy can spell, right? Give me a break.