ronscarpa Posted December 4, 2022 Report Share Posted December 4, 2022 Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it's from Mark... RON ** Frank26 [ Iraq boots-on-the-ground report] FIREFLY: All the main banks in Iraq are saying they are keeping up with modern technology and...lined up with International standards and acceptance proceedings. FRANK: Holy cow..! ** Pimpy History: What happened between Kuwait and Iraq? August 2, 1990 Iraq invaded Kuwait. They occupied the country around October of 1990. Saddam Hussein told the people in Kuwait they had until October 3rd to exchange their Kuwaiti dinars for the Iraqi dinars. After that the Kuwait dinars wouldn't have any value...Both currencies immediately were devalued. Kuwait's dinar was devalued to protect it from being stolen and sold on the black market. Iraqi dinars were devalued because of the invasion. [Post 1 of 2....REPOSTED] ** Pimpy The Iraqi dinar at the time was worth $3.22...Kuwait dinar...$3.45...internationally the currencies were not usable. Central banks refused to acknowledge the currency and therefore it had no value. The U.S. liberated Kuwait February 28, 1991 and shortly after Kuwait redenominated their currency. So it's not so much the currency was revalued as much as it was re-denominated, which is different...I'm anticipating [Iraq] is going to do the same thing Kuwait did...you'll be able to exchange your old dinars for the new dinars and they'll just reinstate the rate. [Post 2 of 2] 1 2 2 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted December 4, 2022 Report Share Posted December 4, 2022 5 hours ago, ronscarpa said: ** Pimpy The Iraqi dinar at the time was worth $3.22...Kuwait dinar...$3.45...internationally the currencies were not usable. Central banks refused to acknowledge the currency and therefore it had no value. The U.S. liberated Kuwait February 28, 1991 and shortly after Kuwait redenominated their currency. So it's not so much the currency was revalued as much as it was re-denominated, which is different...I'm anticipating [Iraq] is going to do the same thing Kuwait did...you'll be able to exchange your old dinars for the new dinars and they'll just reinstate the rate. I didn't buy the kuwaiti dinar at that time , so i didn't know how kuwaiti holders made a profit after exchanging kuwaiti dinar for dollar. So let me get this straight. First , kuwait redenominated the currency at the rate of 1:1 to give a chance for kuwaiti holders to exchange old dinars for a new dinars. Second, after that , kuwaiti reinstated the rate to $3.45. Just wonder , How many folds did the kuwaiti holders make a profit then? 3 Quote Link to comment Share on other sites More sharing options...
hspotman Posted December 4, 2022 Report Share Posted December 4, 2022 3 hours ago, rvmydinar said: I didn't buy the kuwaiti dinar at that time , so i didn't know how kuwaiti holders made a profit after exchanging kuwaiti dinar for dollar. So let me get this straight. First , kuwait redenominated the currency at the rate of 1:1 to give a chance for kuwaiti holders to exchange old dinars for a new dinars. Second, after that , kuwaiti reinstated the rate to $3.45. Just wonder , How many folds did the kuwaiti holders make a profit then? I know one person who told me he made millions off the KWD. But he had to invest A LOT of money to make what he made, so he had money to begin with. I had no reason to doubt what he said, as this was back in '09. He was a client of mine, and we were killing time by talking about it. He was the one that told me about the IQD. He told me at the time that he had 10 million IQD, and was wanting it to RV to .10 cents. Of course we all know the path from there of this thing that we have all been on. But I started out buying 125k from GID associates, did the math over the next month, then bought 125k more. Then I found DV, got pumped by TNT Tony, zzzzzzzzz,etc..., then bought more. I'm in it for the long haul, whatever the outcome may be for us. It would be senseless to sell back and get back less than what I paid for. 6 1 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted December 4, 2022 Report Share Posted December 4, 2022 9 hours ago, ronscarpa said: ** Pimpy History: What happened between Kuwait and Iraq? August 2, 1990 Iraq invaded Kuwait. They occupied the country around October of 1990. Saddam Hussein told the people in Kuwait they had until October 3rd to exchange their Kuwaiti dinars for the Iraqi dinars. After that the Kuwait dinars wouldn't have any value...Both currencies immediately were devalued. Kuwait's dinar was devalued to protect it from being stolen and sold on the black market. Iraqi dinars were devalued because of the invasion. [Post 1 of 2....REPOSTED] ** Pimpy The Iraqi dinar at the time was worth $3.22...Kuwait dinar...$3.45...internationally the currencies were not usable. Central banks refused to acknowledge the currency and therefore it had no value. The U.S. liberated Kuwait February 28, 1991 and shortly after Kuwait redenominated their currency. So it's not so much the currency was revalued as much as it was re-denominated, which is different...I'm anticipating [Iraq] is going to do the same thing Kuwait did...you'll be able to exchange your old dinars for the new dinars and they'll just reinstate the rate. [Post 2 of 2] Not disagreeing with the Pimpy. Comparing Kuwait to Iraq are like comparing apples to oranges. They are two completely different scenarios, two different circumstances. We know the Iraq RV is coming. In Kuwait we were caught by surprise. IMHO. 1 1 1 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted December 4, 2022 Report Share Posted December 4, 2022 1 hour ago, hspotman said: I know one person who told me he made millions off the KWD. But he had to invest A LOT of money to make what he made, so he had money to begin with. I had no reason to doubt what he said, as this was back in '09. He was a client of mine, and we were killing time by talking about it. He was the one that told me about the IQD. He told me at the time that he had 10 million IQD, and was wanting it to RV to .10 cents. Of course we all know the path from there of this thing that we have all been on. But I started out buying 125k from GID associates, did the math over the next month, then bought 125k more. Then I found DV, got pumped by TNT Tony, zzzzzzzzz,etc..., then bought more. I'm in it for the long haul, whatever the outcome may be for us. It would be senseless to sell back and get back less than what I paid for. Thanks for a story. At least there was a prove that one person made a profit of a million off kuwaiti dinar. I hope that person was right about 10 cents RV, too. And I won't sell them back either until this baby pops. I'll wait no matter how long it is going to take. 3 1 Quote Link to comment Share on other sites More sharing options...
hspotman Posted December 4, 2022 Report Share Posted December 4, 2022 2 hours ago, rvmydinar said: Thanks for a story. At least there was a prove that one person made a profit of a million off kuwaiti dinar. I hope that person was right about 10 cents RV, too. And I won't sell them back either until this baby pops. I'll wait no matter how long it is going to take. I know he did something at .07 cents. Whether he bought at .07 or sold, idk. Seems more likely he bought at that, cuz it got pretty high didn't it? 3 Quote Link to comment Share on other sites More sharing options...
Linda Bower Posted December 4, 2022 Report Share Posted December 4, 2022 According to Ronan (that used to be in here and Him and his father invested in Kuwaiti Dinar), It bounced around at first and went as high as $7+ before it setted at 3.25 (or there abouts) But Kuwait dinar was a whole different animal than the IQD is. Lets just be hoping the IQD shows a profit for all these years we've been holding it. 2 1 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted December 5, 2022 Report Share Posted December 5, 2022 16 hours ago, hspotman said: I know he did something at .07 cents. Whether he bought at .07 or sold, idk. Seems more likely he bought at that, cuz it got pretty high didn't it? For example , If he bought at 7 cents and sold at $7 ( accoding to Linda Bower ), then it is like 100 folds. So what a decent profit he made. For example, if he bought 1 million KWD at 7 cents and sold at 7 bucks, that means he made a decent profit of 1,000,000 KWD x 0.07 x 100 folds=7 million bucks. As Adam predicts the IQD rate at 10 cents that means the current rate=$0.00068 x 150 folds=10 cents. So hopefully, iraq will have to increase the rate by at least=150 folds to rv at 10 cents ( above KWD that is only 100 folds ). 1 Quote Link to comment Share on other sites More sharing options...
Linda Bower Posted December 5, 2022 Report Share Posted December 5, 2022 The difference with Kuwait is they didn't have all these chat sites feeding them information. They had to have boots on the ground telling them what was happeneing with the rate. So when the rate started climbing they had to rely on who they knew to know when to cash in. That $7 rate happened so fast they couldn't act fast enough to take advantage of it. 3 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted December 5, 2022 Report Share Posted December 5, 2022 1 hour ago, Linda Bower said: The difference with Kuwait is they didn't have all these chat sites feeding them information. They had to have boots on the ground telling them what was happeneing with the rate. So when the rate started climbing they had to rely on who they knew to know when to cash in. That $7 rate happened so fast they couldn't act fast enough to take advantage of it. Yup. I was in Kuwait as a DOD contractor shortly after. Nobody but the highest echelons & few people privy to such information knew about the Kuwait RI. I had around 30+ K-IQD in pocket to purchase incidentals on the local economy. If only I would have only been there two weeks earlier & knew. That 30 would had turned into 34,000. It was never meant to be, I suppose. I purchased most of my IQD from Bank of Kuwait in 2006. Many military & contractors also did likewise. In fact, it was a Grunt at Al Jabar AB that turned me on the IQD. That's my story & I'm sticking to it. 1 3 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted December 5, 2022 Report Share Posted December 5, 2022 2 hours ago, Linda Bower said: The difference with Kuwait is they didn't have all these chat sites feeding them information. 1 hour ago, Luigi1 said: Nobody but the highest echelons & few people privy to such information knew about the Kuwait RI. Compared to what happened to Kuwait RI : 1.) Iraq have all these chat sites feeding all IQD holders information called " Dinarvet, etc ". 2.) Some people already know and can buy IQD through dinar dealers. And we can get all the information about IQD on the internet openly, there is no secret at all. However , there are some people know about IQD RI from friends or internet, but they don't believe it and buy them. Therefore , what happened to Kuwait RI is opposite to what happens to Iraq RI. But the most important is if kuwait can RI , so can Iraq. The question is when.? 2 Quote Link to comment Share on other sites More sharing options...
hspotman Posted December 5, 2022 Report Share Posted December 5, 2022 7 hours ago, Luigi1 said: Yup. I was in Kuwait as a DOD contractor shortly after. Nobody but the highest echelons & few people privy to such information knew about the Kuwait RI...... Black market. I think I remember my client telling me is where it took place. 1 Quote Link to comment Share on other sites More sharing options...
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