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Time to FLY to iRAQ???


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The below statement came from another post and i want clarification on this...Do we need to open an account in IRAQ or Warka Bank?

"Today investors are interested in the Chinese yuan, the Vietnamese dong and the Iraqi dinar to name a few," Burbank said. "The lesson learned is to make sure you comply with the issuing countries' laws on their currency and business."

For example, in Iraq – where BB&M International Corporation is the only licensing/Forex company currently in operation – the country currently has a closed policy on their currency and only allows 60,000 dinar (about $50 USD) in or out of the country. Iraq also recently stopped foreign banks from buying dinar with dollars directly from the Central Bank of Iraq.

"To safely invest in any of these countries, you need a state-approved business license," Burbank said. "Because we do licensing in Iraq, we do make it easier to do business there, where licensing has gone up dramatically for foreign companies. Often times it is better to wait until the currency actually makes it to the international market before investing or doing business."

Read more:

http://www.bbmone.com/

The company at the above link states that it is currently illegal to export iraq dinar...???

I am aware of Bush's presidential order 13303 allowing US citizens to have the same rights to invest in iraq as an iraqi citizen. But.. What about the laws in iraq... We DO NOT want to be left out in the cold right???

I would like to see facts...not opinions on this..

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The below statement came from another post and i want clarification on this...Do we need to open an account in IRAQ or Warka Bank?

"Today investors are interested in the Chinese yuan, the Vietnamese dong and the Iraqi dinar to name a few," Burbank said. "The lesson learned is to make sure you comply with the issuing countries' laws on their currency and business."

For example, in Iraq – where BB&M International Corporation is the only licensing/Forex company currently in operation – the country currently has a closed policy on their currency and only allows 60,000 dinar (about $50 USD) in or out of the country. Iraq also recently stopped foreign banks from buying dinar with dollars directly from the Central Bank of Iraq.

"To safely invest in any of these countries, you need a state-approved business license," Burbank said. "Because we do licensing in Iraq, we do make it easier to do business there, where licensing has gone up dramatically for foreign companies. Often times it is better to wait until the currency actually makes it to the international market before investing or doing business."

Read more:

http://www.bbmone.com/

The company at the above link states that it is currently illegal to export iraq dinar...???

I am aware of Bush's presidential order 13303 allowing US citizens to have the same rights to invest in iraq as an iraqi citizen. But.. What about the laws in iraq... We DO NOT want to be left out in the cold right???

I would like to see facts...not opinions on this..

If i am not mistaking i think they just changed this law a few months ago so the only people who can get more than 50.00 worth of dinar would be people like Ali or a licensed broker

Edited by Mojo
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If i am not mistaking i think they just changed this law a few months ago so the only people who can get more than 50.00 worth of dinar would be people like Ali or a licensed broker

I would be more afraid to fly to Iraq to cash in. Then, you might be in serious do do!! How did you get this much money??? At least, with Ali and others, we can show in this country where we bought it and it is not illegal to own it. I will just cash in right here in this country, thank you!

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Surely someone in our little troup has enough pull with Ali to get him to ABSOLUTELY verify or deny this information. Moderators, where are you on this?

By the way 68, Adam says the Warka option is closed because FedEx won't track packages to Iraq any more. Do you know another way to do it safely without FedEx?

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By the way 68, Adam says the Warka option is closed because FedEx won't track packages to Iraq any more. Do you know another way to do it safely without FedEx?

I've not looked into it, but the current procedure seems to be wiring the money into a Citi account in NYC. If I had some extra bucks, I'd be doing exactly that! There's a thread around here somewhere on the procedure.

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:angry:

Yep this is very worrying indeed :o

I knew there would be a sting in the tail & quoted this from the very day i purchased my dinar back in 2004 :(

Sorry to be negative but this is what we have all been dreading since the very start :blink:

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Go to this link. They point out three currencies that previous went up in value, but with a catch. It make you wonder if we really do need an account in an Iraq bank. It's a very interesting question.

I had an e-mail conversation with Ali from Dinar Trade yesterday regarding what you are saying. Here is his reply:

Dinar Trade procedures for cashing in dinars once the RV occurs

When you are ready to cash in your dinars with Dinar Trade:

Call 1-877-770-7660 or 661-472-8510 to make an appointment. Let us know which office you would like to go to in order to make the trade.

At the time of the appointment inform us of the number of people in your group and the total amount of dinars you will be cashing in.

You will need the following:

2 ID’s (one with a picture and one with your name on it for example credit card or utility bill)

Fincen 104 form ( http://www.fincen.gov/forms/files/fin104_ctr.pdf ) if you don’t have one we have it at our offices .

Bank incoming wire instructions ( ABA Routing number and Account number)

We will wire the funds form our bank account here in the U.S to your bank while you wait at the time of exchange.

Dinar Trade will charge $150 per million dinars as a service fee for cashing the dinars.

As for the exchange rate it will depend on the rate in Iraq at that time. We will let you know the rate on the phone but it will not be confirmed until you show up at our office at the time of exchange.

We will Only lock in the rate for customer who have purchased dinars form our company at the time when you make the appointment.

We encourage everyone to check all the banks who will be exchanging dinars and their rates before calling us (we are pretty sure we will beat their rates).

At this time we have 3 offices open :

Brentwood, Tennessee

Bakersfield, California

Santa Monica California

Once the RV occurs we will have the following locations open within 7 days.

As we open the other locations we will post the addresses on our website www.dinartrade.com contact us page.

Locations to be open:

Manhattan, NY

Spring hill, FL

FT Smith, AR

Waxahachie, TX

Albuquerque, NM

Grand Forks ND

Las Vegas NV

Toledo OH

We will not disclose the address until the above locations are open.

If you would like to exchange before a location is open near you will have to come to our office in TN or CA.

We will be able to make appointments for all locations as soon as the RV occurs.

We estimate that you will not have to wait more than 3 days when you make the appointment. We will accommodate on a first come first serve basis.

The above dose not constitute that we know when the RV is going to happen. We are informing every one of the procedures for when it occurs.

Dinar Trade is still selling dinars. If you would like to purchase kindly go to our website www.dinartrade.com

Hope this eases your mind.

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The below statement came from another post and i want clarification on this...Do we need to open an account in IRAQ or Warka Bank?

"Today investors are interested in the Chinese yuan, the Vietnamese dong and the Iraqi dinar to name a few," Burbank said. "The lesson learned is to make sure you comply with the issuing countries' laws on their currency and business."

For example, in Iraq – where BB&M International Corporation is the only licensing/Forex company currently in operation – the country currently has a closed policy on their currency and only allows 60,000 dinar (about $50 USD) in or out of the country. Iraq also recently stopped foreign banks from buying dinar with dollars directly from the Central Bank of Iraq.

"To safely invest in any of these countries, you need a state-approved business license," Burbank said. "Because we do licensing in Iraq, we do make it easier to do business there, where licensing has gone up dramatically for foreign companies. Often times it is better to wait until the currency actually makes it to the international market before investing or doing business."

Read more:

http://www.bbmone.com/

The company at the above link states that it is currently illegal to export iraq dinar...???

I am aware of Bush's presidential order 13303 allowing US citizens to have the same rights to invest in iraq as an iraqi citizen. But.. What about the laws in iraq... We DO NOT want to be left out in the cold right???

I would like to see facts...not opinions on this..

I COULD BE TOTALLY OUT IN LEFT FIELD WITH THIS BUT, IF IT WAS ILLEGAL TO EXPORT DINAR, THAN HOW CAN I CONTINUALLY GO TO A LOCAL TD BANK AND PURCHASE ANY AMOUNT I WANT? I DONT WANNA BE LEFT OUT IN THE COLD EITHER LOL

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The below statement came from another post and i want clarification on this...Do we need to open an account in IRAQ or Warka Bank?

"Today investors are interested in the Chinese yuan, the Vietnamese dong and the Iraqi dinar to name a few," Burbank said. "The lesson learned is to make sure you comply with the issuing countries' laws on their currency and business."

For example, in Iraq – where BB&M International Corporation is the only licensing/Forex company currently in operation – the country currently has a closed policy on their currency and only allows 60,000 dinar (about $50 USD) in or out of the country. Iraq also recently stopped foreign banks from buying dinar with dollars directly from the Central Bank of Iraq.

"To safely invest in any of these countries, you need a state-approved business license," Burbank said. "Because we do licensing in Iraq, we do make it easier to do business there, where licensing has gone up dramatically for foreign companies. Often times it is better to wait until the currency actually makes it to the international market before investing or doing business."

Read more:

http://www.bbmone.com/

The company at the above link states that it is currently illegal to export iraq dinar...???

I am aware of Bush's presidential order 13303 allowing US citizens to have the same rights to invest in iraq as an iraqi citizen. But.. What about the laws in iraq... We DO NOT want to be left out in the cold right???

I would like to see facts...not opinions on this..

No need to worry....we will be able to cash in our dinar for us dollars when it revalues....you want your proof? give Ali a call.....need more proof? start calling banks around you and see who deals with dinar and find out from them that you will be able to exchange.....you dont need a iraqi bank account....you are safe with holding the cash in your hands....the different senerios you are talking about with the other countries are just that...different senerios....thats not how it will be happening in this case with Iraq. If your banks are offering to sell and buy back your dinar do you think all of a sudden they wont take it just cause the value goes up?? They will in fact be making more money off of you when that happens.....oh yea i did forget the currency exchange booths at international airports....they dont deal now but when its recognized they will be jumping on board too....

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What if I purchased my dinars back in 2006 from a private individual, and have no receipt of my purchase. Will I have a problem exchanging when it RV's?

I can't imagine why you'd have any issue exchanging a currency. Just like Euros, pounds, or dollars, they'll run it through the De La Rue machine and exchange it for you.

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