No Compensation For Any Lost or STOLEN Currency by Order of CBI Law Article 34

[dontlop]

To Dontlop,  they say there is only about 5 Trillion dinar on the streets of iraq.  Out of bank means out of circulation in iraq.  You know this is true.

 

"THEY" say ?

Who ?

You lie and then lie again saying I know it's true

Who is they

It's not true you just lied as usual ewingm

[Djorgie]

Djorgie,  I think the amount of overseas dinars held by speculators is more than a "drop in a bucket".  The general consensis is that "out of banks" in the CBI reports refers to dinars not in circulation in iraq itself.  That number continues to grow and is above 35 Trillion dinar right now.  How much of that is in the hands of speculators is unknown.  But you can research how much dinar has been sold by the big websites.  It is astounding.  And that IS in the hands of speculators! 

ewingm,

 

Well, I would have agreed with you if you had added that much dinar has been sold and resold many times over... meaning that lots of people have purchased dinar over the past ten years or so and many of them have sold it back to the dealers or to other individuals and then those SAME dinar were resold again and so on... so yeah, there have been mass sales of dinar (none us know the amount for sure) and so that would explain the "SALES" but, again that doesn't mean that is the amount of dinars in people's hands.

 

Also, if "out of bank" means not in circulation in iraq then they must count the dinar that other governments hold (like the U.S.) as well and that is a huge amount.

 

Honestly I could care less what anyone holds. The CBI can do what they want to and if turns out to be a RV then great. If not, then what can anyone do? Just go on about life as you do.

Edited November 25, 2014 by Djorgie

[dontlop]

Well he does still think that the Swiss dinar revalued so what does that tell you? Lol....and even after all this time of shoving logic down his throat it took him quite a while to understand it and finally sell out...

So to answer your question, yes! Lol

Your still lying as usual I see

You know you got whipped right out of here

You know the swiss dinar official exchange rate was revalued you even give the reason why the official exchange rate was revalued yourself you said it was because the market rate they revalued it

That's the only thing you could come up with

You lied for two years before you admitted it

[ewingm]

Oh, please.  Let's not start another Dontlop cut and paste blizzard on the dang Swiss dinar.  Who cares.  Its not got a single thing to do with what you people are holding OR what the CBI says they're gonna do, which is a three zero lop redenomination.  I just hope they do it soon so we can ALL get off this ride!

[dontlop]

Same ole crap

Lie and move on when YA get caught and pretend someone else is the problem because they point out your lies

[ewingm]

Its past your bedtime cow stomper.  Sweet dreams on your mattress full of iraqi currency.

[Markinsa]

1. ...  As for Article 34, it obviously pertains to removing ISIS confiscated funds from CBI liability.  

 

2. I did not realize the discussion of CBI law ramifications carried the threat of permanent censureship from this forum.   

 

This is what the CBI Law states, as to it being "OBVIOUS" this pertains to what you say it pertains to is BS. The subject matter is "withdrawal of unit banknotes and coins".  This law was written as it pertains to normal day-to-day business in Iraq.  The theft of deposits from Banks is not reimbursable to those banks.  If the theft of those banknotes will cause Iraq serious problems, like the invasion of Iraq into Kuwait, I could envision Iraq doing the same thing Kuwait did, by issuing new notes.

 

---

Article 34 Withdrawal of unfit banknotes and coins

 

1. Banknotes and coins in circulation that are unfit for circulation shall cease to be legal

tender. Subject to paragraph (2) of this Article, the CBI shall withdraw, destroy, and replace,

with banknotes or coins of an equivalent amount, any banknotes or coins presented to it that

are unfit for circulation. 

 

2. The CBI may decline to replace an unfit banknote or coin if its designs are illegible,

misshaped or perforated, or if more than fifty percent of its surface has been lost; such a

banknote or coin shall be withdrawn and destroyed without indemnity to the owner, unless

there is evidence satisfactory to the CBI that the missing portions have been totally

destroyed, in which case the CBI may, in its sole and absolute discretion, grant compensation

in whole or in part.

 

3. The CBI shall not be required to provide any compensation for banknotes or coins that

were lost, stolen or destroyed; it may confiscate without compensation any banknotes that

have been altered in their external appearance, including in particular banknotes that have

been written on, painted on, overprinted, stamped or perforated, or to which adhesive matter

has been applied

 

---

 

2. You better start to realize it, and like I've already said, you better start backing up what you are saying, and quick making outlandish and ignorant assumptions like you did in this opening of this thread.

 

-

I will presume that the disagreement by forum members on my post lies not with PO 13303, but with CBI Article 34.  My premise comes from a comment by the Deputy Govenor of the CBI in 2004, who said "it was illegal to sell dinars outside its borders."  Apparently he made this comment because they were losing currency faster then they could print it.  His comment has been repeatedly quoted down through the years as proof to the "grey area" of overseas dinar ownership.  This is not false information I'm presenting, you can google the comment for yourself.  He made it.  Now whether it cares any legal weight was to be the topic of this discussion, but somehow it triggered a lot of negativity to the post.

 

Please provide the "comment" you used to Google the information you say is available that supports your claim.

[ewingm]

Markinsa,  Your interpretation of Article 34 Number 3, is simply different from how  I interpret the statute.  When it states currency that has been "stolen", I'm not sure how else it can be interpreted when it comes to the huge theft of dinars from the banks in Mosul by ISIS.  As I don't trust the CBI from engaging in nefarious methods in order to remove overseas speculators, of which my family members are part.  There has been much discussion over the years, of the legality of owning dinar, or the legality of dinar leaving iraq.  It is a grey area.  If the CBI chooses to remove overseas dinar holders from either an RV or RD, they could use language such as this to make their point.  I simply don't trust the CBI.  The comment you are asking for can be found at:   http://another site/money-bet-your-bottom-dinar

The Deputy Goveronor

[dontlop]

Lol

Using a guru for his references

Ah ha ha ha ha ha ha ha

[ewingm]

Markinsa,  the posting didn't take my editing correctly.  The website is:   http://another site/money-bet-your-bottom-dinar    

The Deputy Governor of the CBI was A. Mohommed and the statement was made in 2004.

It is still not correct.   another site

I give up.  Its being blocked by the Dinarvets site security.

[dontlop]

All he can post is guru web sites and its dinar vets fault

Ah ha ha ha ha ha ha

[Markinsa]

Markinsa,  Your interpretation of Article 34 Number 3, is simply different from how  I interpret the statute.  When it states currency that has been "stolen", I'm not sure how else it can be interpreted when it comes to the huge theft of dinars from the banks in Mosul by ISIS.  As I don't trust the CBI from engaging in nefarious methods in order to remove overseas speculators, of which my family members are part.  There has been much discussion over the years, of the legality of owning dinar, or the legality of dinar leaving iraq.  It is a grey area.  If the CBI chooses to remove overseas dinar holders from either an RV or RD, they could use language such as this to make their point.  I simply don't trust the CBI.  The comment you are asking for can be found at:   http://another site/money-bet-your-bottom-dinar

The Deputy Goveronor

 

It is ENGLISH, how many ways can you interpret this law???  Here in the US, if a law is not clear, the courts refer to what the legislative intent of the law was.  In this case, the law clarified that it wasn't going to be responsible for "lost, stolen, or destroyed" banknotes or coins, such as the numerous fires you hear about inside these Iraqi banks where currency is destroyed, or the woman that disappeared with 40 Billion Dinar.  This is what the CBI wiill not compensate for.  What you are looking for would be a new regulation issued by the CBI that would address how money Isis took from Iraqi banks would be handled.  Unfortunately, there would be no way to identify that money.

 

I admit you are an intelligent man, but you're grasping at straws trying to prove something that isn't there.  Again, you're making assumptions without any facts to back you up.

 

 

Also, the one and ONLY article posted saying "it's illegal to export the dinar" was posted February 1, 2004, one month prior to the CBI Law going into effect. You only get 4 results when googling that phrase, 3 of them reference this article.  So again, there's not a whole lot of anything backing up what you are saying.

 

-

[ewingm]

Okay, try this :  google americancontractor and then look for "money-bet your bottom dinar"  It refers to a Newsweek article where A. Muhammed was quoted as saying it was illegal to transport dinar out of country.  I do not know if it is still true.  Maybe someone can ask the CBI.

[dontlop]

February 1 2004 a month before cbi law was passed

Ewingms link Newsweek http://www.newsweek.com/money-bet-your-bottom-dinar-131201

Two weeks after the NID exchange was over the story was written referring to what the closed border exchange during the war ?

January 15 2004 was the last day of the exchange

And all IQD including swiss and saddam dinar was demonetized

And the NID became IQD

[dontlop]

If someone had any sense they would realize if the cbi didn't want its currency being sold openly by dealers around the world they would be clear in telling the world it's illegal to sell or buy dinar outside of iraq

Not some article by some foreign magazine article one time said it and that's it

They sure did let the world know about its oil policies when the Kurds tried going it alone

And not just one hear say article 10 years ago

The things people hold on to and preach as if they are an authority on dinar is astounding

Simply mind boggling

[ewingm]

Dontlop, you KNOW that this is still an issue out there.  You also KNOW that CBI law gives the time, PLACE,  and rules for any currency exchange, should it occur.  The iraqis hold all the cards in this thing.  And there are several ways they can shaft dinar holders.  Not being a tradeable currency is one of the biggest.  The dinar is to be used inside the borders of iraq.  Hey, if I owned dinar, I'd think I'd want to know if its legal or if the CBI will honor it outside the borders.

[dontlop]

If it were illegal we would know

It would be published very clearly for everyone to read

I never heard of any currency that it's illegal to have

None any where at any time since money become fiat

You making things up and spreading it around is not what people need to hear

So unless you can back up your bs

Keep your bs to yourself

The only people it's an issue to is people like you because you don't know or you would point it out where we could all read about it clearly in black and white

Show us where there's a law that says the dinar is not allowed out of the country or close the hole in your head

[ewingm]

Oh chill out Dontlop.  You're always insulting me.  Shut your own pie hole.  Nobody wants to be constantly subjected to your brainless tirades.  You sold out your dinars, so just blow off.  You have less of a dog in this hunt than I do, but your mouth just constantly flaps.

[dinarbeleiver]

It is ENGLISH, how many ways can you interpret this law???  Here in the US, if a law is not clear, the courts refer to what the legislative intent of the law was.  In this case, the law clarified that it wasn't going to be responsible for "lost, stolen, or destroyed" banknotes or coins, such as the numerous fires you hear about inside these Iraqi banks where currency is destroyed, or the woman that disappeared with 40 Billion Dinar.  This is what the CBI wiill not compensate for.  What you are looking for would be a new regulation issued by the CBI that would address how money Isis took from Iraqi banks would be handled.  Unfortunately, there would be no way to identify that money.

 

I admit you are an intelligent man, but you're grasping at straws trying to prove something that isn't there.  Again, you're making assumptions without any facts to back you up.

 

 

Also, the one and ONLY article posted saying "it's illegal to export the dinar" was posted February 1, 2004, one month prior to the CBI Law going into effect. You only get 4 results when googling that phrase, 3 of them reference this article.  So again, there's not a whole lot of anything backing up what you are saying.

 

-

Go on Markinsa your awesome Boo Yaaa!!!!!!!!!!!!!!!!!!!!!

 

Oh chill out Dontlop.  You're always insulting me.  Shut your own pie hole.  Nobody wants to be constantly subjected to your brainless tirades.  You sold out your dinars, so just blow off.  You have less of a dog in this hunt than I do, but your mouth just constantly flaps.

Dontlop is awesome to Boo Yaaa !!!!!!!!!!!!!!!!!!!!!!!!!

[SocalDinar]

EW you said " I simply don't trust the CBI. "

And that's why we do not trust their numbers. Glad we could agree on something.

[rockfl9]

Dontlop, you KNOW that this is still an issue out there.  You also KNOW that CBI law gives the time, PLACE,  and rules for any currency exchange, should it occur.  The iraqis hold all the cards in this thing.  And there are several ways they can shaft dinar holders.  Not being a tradeable currency is one of the biggest.  The dinar is to be used inside the borders of iraq.  Hey, if I owned dinar, I'd think I'd want to know if its legal or if the CBI will honor it outside the borders.

I previewed the sterling currency group video where the COE/owner explicitly says they obtained and transported the dinar they sell LEGALLY...!!!!! But the fine print says they are not responsible if the dinar loses value.??? I guess that could mean zero!

Now thinking about that , If they obtain it from other than Iraq the purchase would be legal technically . How they legally go thru customs??????? 

[caz1104]

If you want something bad enough (pro or con)..........you grasp for anything(valid or not) in an attempt to validate your view. Sadly that's not being open minded and not smart in regards to investments.

[rockfl9]

I previewed the sterling currency group video where the COE/owner explicitly says they obtained and transported the dinar they sell LEGALLY...!!!!! But the fine print says they are not responsible if the dinar loses value.??? I guess that could mean zero!

Now thinking about that , If they obtain it from other than Iraq the purchase would be legal technically . How they legally go thru customs??????? 

As a follow up I checked the US Customs currency exchange tables. The IQD and VND ARE NOT listed???/  I Checked Lebanon , Hong Kong and Austrailia ditto also.

So according to those governments the IQD has NO value or is imported as something other than currency????? 

[Maggie123]

I remember a few years ago... when we still had Scooter, Dalite, Darren and some others here...

 

I remember a lot of discussion about the dinar we hold coming out of Jordan.

 

dunno how that might factor into this discussion... just came to mind as maybe being relevant.

 

Hope someone else can remember what they were saying in that regard back then?

 

Keepums???  

[ewingm]

This is excellent work, Rock.  Let's pursue this question today.  We should be able to answer this once and for all, AND it is a very BIG issue.  There is enough slack in the CBI law wording to give clever people in Iraq,  room to shaft anyone  holding dinar outside the borders of iraq.  When you have  Mr. Issa of Warka Bank, and Deputy Governor A. Muhammed of the CBI both on record as saying it was illegal to export dinar from the country, it IS an important issue to follow.  Now, they may have changed that policy, as one poster said yesterday, but because he couldn't/wouldn't post a link, I fear that was just a rumor that got spread around.

 

Good to jear from you, Maggie.  See what you can come up with on the Jordan angle.  I too, have heard it comes through Jordan, but let's see if we can find proof.   

Edited November 25, 2014 by ewingm