Dinar in-hand to Warka?

[OILandDINAR]

Okay, I post this at risk of "this doesn't go under rumors!" or "we always talk about this topic. Look it up newbie." I sell oil investments. To make it simple lets say my company buys 10% of an oil and gas drilling project for $100,000. We will then break it down into 2% pieces and sell the pieces for $40,000 each for a total of $200,000, making a $100,000 profit on the deal. My reason for explaining that is this...the people who buy my investments are millionaires who can drop tens of thousands, sometimes hundreds of thousands, on a risky investment and sometimes forget they even did it. One of my potential clients told me one day, "If this foreign currency deal I am in goes through, I'll get into every well you drill." I later found out about betoniraq.com and the dinar and when I called him to ask if it was what he was talking about he said yes and asked if I had bought any myself. When I told him no he said I better hurry up because the RV was set to happen that night and it was going to be $3.19. He said he hadn't heard about betoniraq.com and to try the website he thought was best, dinartrade.com. I thought, "Sweet, I'll drop a few K and make a few million. This guy has inside info and its not the stock market so it isn't insider trading. I bought 2.5 Mil dinar. This was April 29th, the day I became infected with the dinar bug! The same day AM had the last conference call. I was convinced I just made the smartest move of my life. Hah! So long story short I start seeing the same info he is giving me coming from y'alls favorite trio, and quickly learned what reputation they have. He says he doesn't get his info from websites. He described the people he is getting his info from by some of their accomplishments. Like if i said I know the end of the movie that hasn't come out yet because my friend is an Oscar winner. SO 1 of 2 things could be happening here: 1 those three guys actually have the contacts they say they do and they happen to be the same as my guy and the chaos over the election is the only thing pushing back an RV that was already supposed to happen or 2. ALI at dinar trade has some serious, serious kool aid drinkers. Either way, I'm comforted by everyones hard work and research, and convinced that even if the investment doesn't make me millions all at once, it will provide a decent return long term.

In my haste I bought 2.5 mil dinar in 25,000 notes. I'm reading about a situation where I might HAVE to exchange my 25,000 notes at an initial rate or they will become worthless when the rate increases again. After all of that here is my question...Is there a way to deposit some of my dinar into a Warka account so I have some in-hand and some electronically? If not, can I just send my dinar back to Ali for smaller denominations? Thanks a lot. If this has already been answered somewhere, sorry, a link is fine. I handle investments so I know I need to spread my risk.

[automag]

I know nothing about Warka but I will put forth my thought about it. It would seem reasonable to assume that once you drop your currency notes into any Iraqi bank be it Warka or any other Iraqi bank that money then becomes digital. You won't be holding currency. However you will have a balance in Dinars in a bank in country. That balance is only ink printed on paper but still represents whatever amount you deposited.

That is all I have on the subject but DT did say in one of his many sales chats that if you put it in his bank you will be safe from the currency stipulations if there are any imposed by CBI. I don't know that to be true. All I am saying is that you might want to research that angle as a way to hold it for further value increases. There are many folks here on DV who do have Warka accounts and hopefully they may be able to shed some more light on this subject. I too would love to learn more about it. Good Luck.

[gozilla]

Okay, I post this at risk of "this doesn't go under rumors!" or "we always talk about this topic. Look it up newbie." I sell oil investments. To make it simple lets say my company buys 10% of an oil and gas drilling project for $100,000. We will then break it down into 2% pieces and sell the pieces for $40,000 each for a total of $200,000, making a $100,000 profit on the deal. My reason for explaining that is this...the people who buy my investments are millionaires who can drop tens of thousands, sometimes hundreds of thousands, on a risky investment and sometimes forget they even did it. One of my potential clients told me one day, "If this foreign currency deal I am in goes through, I'll get into every well you drill." I later found out about betoniraq.com and the dinar and when I called him to ask if it was what he was talking about he said yes and asked if I had bought any myself. When I told him no he said I better hurry up because the RV was set to happen that night and it was going to be $3.19. He said he hadn't heard about betoniraq.com and to try the website he thought was best, dinartrade.com. I thought, "Sweet, I'll drop a few K and make a few million. This guy has inside info and its not the stock market so it isn't insider trading. I bought 2.5 Mil dinar. This was April 29th, the day I became infected with the dinar bug! The same day AM had the last conference call. I was convinced I just made the smartest move of my life. Hah! So long story short I start seeing the same info he is giving me coming from y'alls favorite trio, and quickly learned what reputation they have. He says he doesn't get his info from websites. He described the people he is getting his info from by some of their accomplishments. Like if i said I know the end of the movie that hasn't come out yet because my friend is an Oscar winner. SO 1 of 2 things could be happening here: 1 those three guys actually have the contacts they say they do and they happen to be the same as my guy and the chaos over the election is the only thing pushing back an RV that was already supposed to happen or 2. ALI at dinar trade has some serious, serious kool aid drinkers. Either way, I'm comforted by everyones hard work and research, and convinced that even if the investment doesn't make me millions all at once, it will provide a decent return long term.

In my haste I bought 2.5 mil dinar in 25,000 notes. I'm reading about a situation where I might HAVE to exchange my 25,000 notes at an initial rate or they will become worthless when the rate increases again. After all of that here is my question...Is there a way to deposit some of my dinar into a Warka account so I have some in-hand and some electronically? If not, can I just send my dinar back to Ali for smaller denominations? Thanks a lot. If this has already been answered somewhere, sorry, a link is fine. I handle investments so I know I need to spread my risk.

You used to be able to mail or fedex your dinar to Warka and they would deposit it to your account for you. From my understanding they stopped accepting paper currency in the mail a couple of months ago. You could sell your dinar back, although it would be for less than you paid for it. My thought is that you are only going to be able to buy "smaller denominations" as in 1,000, 5,000, and 10,000 notes. The issue with what you are saying is that these all have 3 zeros as well. Personally, I think that these will all be in the same category when it comes to cashing in. I have 25000 notes as well as 5000 and 10000 just to cover bases, but I think they will be along the same timelines for cashing in.

I diversified by opening a warka account in addition to the paper currency that I hold. You get a better exchange rate that way, as there are no fees going to the brokers. If you cannot currently open a warka account and fund it with additional money, then I guess your option is to sell what you have to do it. I would recommend not putting all of your eggs in either basket, but to split it up. This is just my opinion based on what I have read and what I have done.

Good Luck! Hope this helps.

[OILandDINAR]

Thanks! Appreciate the info.

[wbuse984]

Thanks! Appreciate the info.

I have 3Mil in Dinar (10000 & 25000 notes), plus I have 1.75Mil in a Warka Account...IMO it would make sense to open a Warka account and toss a mil or so in it just to make sure...my next move should the RV be further delayed which seems likely may be to toss $1K USD into Warka and open an ISX account as well...JMHO

[avenger380]

Warka never said they were not taking money via courier. What they said was that Iraqi customs wasnt allowing it anymore, and, if you ship it, it is at your risk.

[Jigga]

Any of you would be smart to remove yourself completely from being involved with the banks in Iraq.....you have no insurance with those banks at all....they could take all your money wipe out your account and you will be SOL.....the banking sector over there cannot be trusted yet.....even there own citizens arent investing in the bank....that should be enough to show you how unstable they still are, i cannot speak about Ali's bank because i do have faith in him for putting your money but im not even sure if he has them up and running yet....i think it would be the worst thing you can do is put your money in Iraqis hands...the stock market is a different story....but DO NOT trust the banking sector...you will be sadly disapointed....take this for what its worth

[k98nights]

Any of you would be smart to remove yourself completely from being involved with the banks in Iraq.....you have no insurance with those banks at all....they could take all your money wipe out your account and you will be SOL.....the banking sector over there cannot be trusted yet.....even there own citizens arent investing in the bank....that should be enough to show you how unstable they still are, i cannot speak about Ali's bank because i do have faith in him for putting your money but im not even sure if he has them up and running yet....i think it would be the worst thing you can do is put your money in Iraqis hands...the stock market is a different story....but DO NOT trust the banking sector...you will be sadly disapointed....take this for what its worth

I agree with Jigga on this one