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We Need To Prepare For This Exchange Option Now.


Luigi1
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here's an article from Dinarland...

The pressure is on the CBI to get it done.

The IQD weakens against the USD.

RV-RI exchange options may be on the table.

Treat as a rumor.  Not verified.  Your opine.

 

 

 

 

Sandy Ingram:

ARTICLE:  So what would they (Iraq) need to do in order to increase the value of their currency?  One thing they could do would be to create a new currency like Kuwait did & provide a window of time when people could exchange the old Iraqi dinars for the new currency or they could go digital.  But where does either of these options leave us as investors?  Get a valid passport.  There are ways you and I will be able to fly into the Middle East..  We need to prepare for this option now.
 

 

Clare:

ARTICLE:   “Al-Maliki makes the approval of the oil & gas law conditional on this matter”  THAT IS NOT NURI AL-MALIKI.   IT IS A DIFFERENT GUY WITH THE SAME LAST NAME.



Frank26  Boots-On-The-Ground Report  via  FIREFLY:

ARTICLE:  The Prime Minister came out and says we’re going to have foreign currency in our market.  FRANK: Yes, because you’re going international.

 

From other sources:

ARTICLE:  The Dollar Continues To Exceed The Threshold Of 1,500 Dinars.

 - Economie -  09:35 – 08/12/2022 -  Baghdad.  Today, Thursday, the exchange rates of the dollar witnessed a slight decrease in the local stock exchange.  The selling price of the dollar was 150,200 dinars per 100 dollars, while the buying price of the dollar was 150,100 dinars per 100 dollars.

 

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4 minutes ago, rvmydinar said:

Is this some kind of In-Country RV, like when Kuwait RI'ed the KWD a long time ago?

Even IF this kind of scenario were to happen like Kuwait, I know my client did all his transactions via the black market.  I really don't think anyone would want to charter a jet to the ME....unless you really wanted so save on whatever black market fees would incur.  People will find a way to exchange their dinars over here, maybe DT and/or DB will come back, or some other dinar dealer?

 

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1 minute ago, rvmydinar said:

Is this some kind of In-Country RV, like when Kuwait RI'ed the KWD a long time ago?

 

The Kuwait RV did not require you to go to Kuwait to do the exchange.  

Most people went to a local bank or a FOREX exchange at a major international airport.

I was a contractor in Saudi Arabia at the time the KD RVed. 

Those people exchanged right in Jeddah without flying to Kuwait.  Just saying.

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4 minutes ago, hspotman said:

I really don't think anyone would want to charter a jet to the ME....People will find a way to exchange their dinars over here, maybe DT and/or DB will come back, or some other dinar dealer?

I am glad you said that. I prefer trade in dinar for dollars in the States much more convenient, unless someone want to go to ME for taking holidays.

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It will (or at least was) easy to fly to Kuwait where they will most likely have some money changers.  Detroit to Amsterdam to Kuwait.  t won't be inexpensive because 15 years ago it was $1500 US.  (one way).  I would not chance flying into BIAP Airport with a bunch of IQD.  My trust level is very low when it comes to Iraq.  However, If you do want to fly to Iraq you can go to La Guardia to Aman Jordan (Princes Alia Airport) and into Baghdad International Airport.  Good luck, you may need it either way due to the large sums of IQD you are transporting.  When I made both trips several times 04-07 they checked all my bags at beginning and ending flights.

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10 minutes ago, Luigi1 said:

 

The Kuwait RV did not require you to go to Kuwait to do the exchange.  

Most people went to a local bank or a FOREX exchange at a major international airport.

I was a contractor in Saudi Arabia at the time the KD RVed. 

Those people exchanged right in Jeddah without flying to Kuwait.  Just saying.

Thanks for your clarification.

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4 minutes ago, Bob said:

When I made both trips several times 04-07 they checked all my bags at beginning and ending flights.

I think it is too risky to bring a suitcase full of IQD being confiscated by customs officers when they check the suitcase through the X-ray machine at the airport. It is much better to trade in dinar for dollars in the States eventhough we have to pay higher taxes.

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11 minutes ago, rvmydinar said:

I think it is too risky to bring a suitcase full of IQD being confiscated by customs officers when they check the suitcase through the X-ray machine at the airport. It is much better to trade in dinar for dollars in the States eventhough we have to pay higher taxes.

 

May I also add...

Those that exchanged in Saudi Arabia or in Kuwait City were required to open up a Bank of Kuwait account & leave the money in their account for at least 30 days.  In exchange, the Bank of Kuwait charged no handling or exchange fees.  FYIO.

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2 minutes ago, Luigi1 said:

Those that exchanged in Saudi Arabia or in Kuwait City were required to open up a Bank of Kuwait account & leave the money in their account for at least 30 days.  In exchange, the Bank of Kuwait charged no handling or exchange fees.  FYIO.

Wow 30 days are too long and risky of losing all the money in a bank of Kuwait. Unless , there is a Citibank's branch in Kuwait city and when someone open up account in the Citibank in Kuwait city , then can someone withdraw all the money in the Citibank after someone is back to the states?

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3 minutes ago, rvmydinar said:

Wow 30 days are too long and risky of losing all the money in a bank of Kuwait. Unless , there is a Citibank's branch in Kuwait city and when someone open up account in the Citibank in Kuwait city , then can someone withdraw all the money in the Citibank after someone is back to the states?

 

Other banks have 3 or 6 month minimum requirements.

Open up an account & leave that afternoon.

Under the new SIPS payment system, you can electronically transfer funds in seconds from your home to you home bank.

The bank will also offer you a unlimited revolving charge card based on your total bank holdings.

You can even open up a Bank of Kuwait account without having to go to Saudi Arabia or Kuwait City.

Problem solved.

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7 minutes ago, rvmydinar said:

Wow 30 days are too long and risky of losing all the money in a bank of Kuwait. Unless , there is a Citibank's branch in Kuwait city and when someone open up account in the Citibank in Kuwait city , then can someone withdraw all the money in the Citibank after someone is back to the states?

 

This is an incorrect assumption - no one would need an American Bank to be any safer than a local Kuwaiti bank. International banking is just as safe as any US bank, there are good established banks and smaller banks that you might not want to use - just like here.

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36 minutes ago, rvmydinar said:

Exactly.

Yea IDK.....I really think all this back and forth is designed by the gurus to keep us in the game, always guessing...and perhaps purchasing?  There is already the designed cycle of Tax talk, then rate talk, then so on and so on.  It only takes one post to get it all started.

Edited by hspotman
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35 minutes ago, rvmydinar said:

I think it is too risky to bring a suitcase full of IQD being confiscated by customs officers when they check the suitcase through the X-ray machine at the airport. It is much better to trade in dinar for dollars in the States eventhough we have to pay higher taxes.

 

Don't let the Gurus use scare tactics on you.  Most of the time they are making up BS as they go or are just guessing when it comes to int'l banking options.  I still have an active Deutsche Bundesbank account to this very day from Germany.

I been there...done that.

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5 minutes ago, Luigi1 said:

You can even open up a Bank of Kuwait account without having to go to Saudi Arabia or Kuwait City.

Problem solved.

Thanks for the info.  I have never tried it before. But, I still prefer trade in dinar for dollars in any local banks in the States after IQD become an international recognized currency.

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1 minute ago, rvmydinar said:

Thanks for the info.  I have never tried it before. But, I still prefer trade in dinar for dollars in any local banks in the States after IQD become an international recognized currency.

 

FYI.  Bank of Saudi Arabia & Kuwait do have branch banks in some major US cities if you feel uncomfortable opening an overseas bank account on the web.  You can go to their bank sites & find out where the nearest branch offices are nearest to  you.

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9 minutes ago, ronscarpa said:

 

This is an incorrect assumption - no one would need an American Bank to be any safer than a local Kuwaiti bank. International banking is just as safe as any US bank, there are good established banks and smaller banks that you might not want to use - just like here.

Thanks for your clarification.

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8 minutes ago, rvmydinar said:

Thanks for the info.  I have never tried it before. But, I still prefer trade in dinar for dollars in any local banks in the States after IQD become an international recognized currency.

I would definitely sacrifice the multiple $$$$$ to do it here.  Hell, I may even sacrifice $1 mil if it means doing it over here....or just getting it done!
 

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17 minutes ago, ronscarpa said:

 

This is an incorrect assumption - no one would need an American Bank to be any safer than a local Kuwaiti bank. International banking is just as safe as any US bank, there are good established banks and smaller banks that you might not want to use - just like here.

 

You are absolutely correct. 

Keep in mind...foreign banks have different rules & regulations than US banks do. 

It's not that they are unsafe or unreliable banks. 

They do business differently than we do.

Don't fall for the Gurus hypes.

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15 minutes ago, hspotman said:

Yea IDK.....I really think all this back and forth is designed by the gurus to keep us in the game, always guessing...and perhaps purchasing?  There is already the designed cycle of Tax talk, then rate talk, then so on and so on.  It only takes one post to get it all started.

Actually, gurus know nothing and just talk  BS. And whatever the gurus say never come true. May be dinar dealers pay the  gurus to talk BS. So people who believe what the gurus say will immediately buy the dinar from dinar dealers.

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13 minutes ago, Luigi1 said:

 

FYI.  Bank of Saudi Arabia & Kuwait do have branch banks in some major US cities if you feel uncomfortable opening an overseas bank account on the web.  You can go to their bank sites & find out where the nearest branch offices are nearest to  you.

Thanks for the info.

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