What Happened To The Kuwaiti Dinar in 1991

[ardentscientist]

I too am very grateful for this post as it is soo difficult to track this history. I still cant find anything about the spike in the rates. I feel much better knowing there is some proof.

go to oanda.com and look up the currency history with the tools they provide. You will not find any spike at all. What is being said is on the none official black market people had thought there currency was worthless and sold it off for .05 to .10. I'm not buying it. The currency never really officially lost value. I believe the article was talking about the worthless currency being the dinar being removed from circulation and being replace with the new notes printed because Iraq had stold the printing plates and much of there currency. Oh and it never ever hit a rate higher than the steady rate as some people are pumping as in 7-9. So be careful what you believe there is much disinformation. I can think of the motives and have done the math to back my conclusions. Good luck with your investment. When I uncovered the truth my confidence was shaken to say the least. I hope it happens but I don't believe about the Kuwait dinar after hearing from the pumpers and being told to do my research as I did. All the best.

[Legolas]

Most seem to be missing the point. The RI of the Kuwaiti Dinar was a completely different situation that that of the Iraqi Dinar. Kuwait devalued their own currency due to the theft by Saddam of a large quantity of the currency, and the printing plates. They issued a "new" currency and honored only old bills which hadn't been stolen in the Iraqi occupation. The devaluation was relatively short-lived.

The Iraqi Dinar never had a "real" value of $3.22. That value was arbitrarily assigned to it by Saddam, and wasn't internationally recognized or traded at that rate. The value was lowered to somewhere in the 4,000 per dollar range for obvious reasons after the war, and has since gradually increased in value to the current level of 1170 per dollar. Comparing the situation in Kuwait to that of Iraq is apples and oranges, utilized by the dealers to generate Dinar sales. Yes, there was an RI of the Kuwaiti Dinar, but it was obviously an entirely different situation than what we are looking at here. This doesn't mean that we won't see the RV of the Iraqi Dinar at some point.......only that it's not at all similar to the Kuwait RV, and shouldn't be used as a sales tool.

[BANE]

Oh, but what about Scooter's info that the Iraqi Dinar was pegged to the Bahrain Dinar? What ever happened to that guy? He used to come here alot and post graphs and charts to convince us it was near...

[tryinmybest22]

This is what this community is supposed to be all about! I love it! I love all the post, all the info! The sharing of resources, this is how we educate each other, and dissect or support the info! This helps us all! In all the years I have been invested, and following these posts, this is truly how things move along, and people become informed! Great post EVERYONE! I would like to add one thing though. I have to agree that we can't use KU as a selling tool. Remember the circumstances, and ALSO remember Ku was not a free-floating currency. There are however semblances, as yes, it could be a similar result, but totally different occurrences, and situations! But the bottom line is, we are all communicating, trying to help, getting some knowledge, and realizing we are all in this together. Thanks EVERYONE for this thread! GO RV, keep the faith, and let's all help each other!! Whether invested for a week or years(like me) We are all in this together to learn, educate, and hopefully help each other make some good educated opinions and choices! Thanks guys, HAPPY NEW YEAR!

[Dinar_o'saurs]

 

A blast from the past!

 

And what can be done with a worthless currency.

[sandfly]

THANKS

[NeedRv]

Well if history repeats itself (and Iraq does what Kuwait did) then I will welcome a start of 1:1 with open arms ....... and run.... 

[keepmwlknfny]

Did you read the info?  Iraq is a completely different situation then Kuwait......

 

It wont go down like what happened in Kuwait.....thats all just pumper hype...

[NeedRv]

Did you read the info?  Iraq is a completely different situation then Kuwait......

 

It wont go down like what happened in Kuwait.....thats all just pumper hype...

 

Oh I read the info..... and I Understand they are different situations... BUT regardless, like I said..bottom line is if a start of 1:1 pops then I take the money and run.... truth is it will be whatever it will be... I in NO WAY buy into the guru and pumper lies... good to hope on that though 1:1.... 

[rockfl9]

Not the same story . Kuwait RESTORED a functional government. An Emirate that knows how to hire the best and brightest to get things DONE. When the Emir returned from exile he could dictate the exchange rate. He wanted the old value back.

Iraq , well,  no match.

[rulesforrebels]

Most seem to be missing the point. The RI of the Kuwaiti Dinar was a completely different situation that that of the Iraqi Dinar. Kuwait devalued their own currency due to the theft by Saddam of a large quantity of the currency, and the printing plates. They issued a "new" currency and honored only old bills which hadn't been stolen in the Iraqi occupation. The devaluation was relatively short-lived.

The Iraqi Dinar never had a "real" value of $3.22. That value was arbitrarily assigned to it by Saddam, and wasn't internationally recognized or traded at that rate. The value was lowered to somewhere in the 4,000 per dollar range for obvious reasons after the war, and has since gradually increased in value to the current level of 1170 per dollar. Comparing the situation in Kuwait to that of Iraq is apples and oranges, utilized by the dealers to generate Dinar sales. Yes, there was an RI of the Kuwaiti Dinar, but it was obviously an entirely different situation than what we are looking at here. This doesn't mean that we won't see the RV of the Iraqi Dinar at some point.......only that it's not at all similar to the Kuwait RV, and shouldn't be used as a sales tool.

currency and economics are confusing and so many diff possible situations. i agree with what this poster says and though not a great analogy i'd liken it to the current situation in i think its argentina but maybe venezuela i could be mistaken. anyhow, even though there is an official rate for the currency listed on Oana and xe and such, in the streets its actually being bought up for like 70% below the value because nobody feels its a legit rate. even within the us currency exchanges sell it at close to the real rate but as far as buying it in nobody will give you more than 50% less than its "worth" officailly so just because there's a rate if people of the country don't have confidence in the currency and economy and country that rate means nothing

[EMPHATIK]

My friends son just met a person that made millions in the Kuwait dinar exchange.  Its true!!! But how much longer will we have to wait for iraq to reach their RV?  Only

 

time will tell, and im sure that the people who wait the longest will have the greatest reward.  

 

 

Go Super RV! ! !

[Boozer]

Thanks