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Mailman & Med chat: Dinar Speculator 11/19/10pm


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mailman17 says to (21:53:55):

IF THE CENTRAL BANK GIVES 90 DAYS FOR THE 3 ZEROED NOTES TO BE TURNED IN…THATS ALL YOU GOT…90 DAYS

HAPPY…COUNT ON A DEADLINE…’

ITS IMPERATIVE TO THEIR M2

AND THEY ARE PROBABLY HOPING FOR SOME OF YOU TO WAIT

happyguy says to (21:55:44):

I’m not saying it’s impossible – I just don’t think we’re going to see a deadline.

mailman17 says to (21:56:04):

HAPPY…KUWAIT DID…

THE WHOLE KEY TO IRAQ SUCCEDDING IS TO GET THOSE NOTES TURNED IN…AND OVER TO THE GOVTS…PERIOD

THEY THEN WILL KNOW WHERE THEY STAND…CURRENCY WISE

IF THEY PLAN TO COME OUT AT 1.40…..90 DAYS LATER….THE ONLY ONES THEY HAVE TO WORRY ABOUT HAVING THE MAJORITY OF THE DIANR IS GOVTS

AND THEY WILL USE THEM FOR FOREIGN CURRENCY RESERVE

IRAQ CAN PRETTY MUSCH WIPE EM OFF THE BOOKS…

HAPPY…..DO WHAT YOU WANT….HOLD EM

THIS IS NOT NORMAL HAPPY

IRAQ HAS TO GIVE NOTICE…FIRST OF ALL

IF THEY PLAN ON RETIRING THE NOTES TO THE GENERAL PUBLIC

ONCE RETIRED…THOSE NOTES ARE NO LONGER DEEMED TRADEABLE CURRENCY BY THE GENERAL PUBLIC

KEY WORDS…GENERAL PUBLIC

BUSMAN..I DONT THINKTHEY HAVE 9 MILLION OUT

HIGH

DEPENDS ON WHO YOU BELIEVE

‘BANKS CANNOT RETIRE ANYTHING

LOL.BANKS.ONLY.RETIRE.USD.NOTTING.ESLE….HELLO

busman says to (22:01:39):

ok so it WON’t take them long to get 25k notes back…….

mailman17 says to (22:01:49):

BUSMNAN…EXACTLY

dinarham says to (22:02:07):

If Iraq wants to call in the high notes, an initially low rate is not the way to do it

mailman17 says to (22:02:33):

DINARHAM…ACTUALLY..THE LOWER THE BETTER

busery90 says to (22:03:02):

anyone know if the 30 days has started for Maliki to form a government have read some stuff that leads

mailman17 says to (22:03:19):

30 DAYS STARTED VETERANS DAY

TALABANI GAVE HIM THE NOD ON VETERANS DAY

butterfly says to (22:04:47):

he never needed 30 days even if it started Sunday….he has it done… it will be formed by the end of next week at the latest

mailman17 says to (22:04:55):

BF..CORRECT

dinarham says to (22:06:06):

Mailman, I agree to the extent that most small investors will cash in at a supposed lower rate, but we’re small potatoes

mailman17 says to (22:09:17):

DINARHAM…YES WE ARE SMALL POTATOES…LET ME SEE IF I CAN PUT THIS INTO PERSPECTIVE FOR ALL OF YOU…AGAIN

GIMME THE FLOOR FOR A SEC

OK

LETS SAY IRAQ COMES OUT AT 86 CENTS…AND LETS SAY THAT RATE WAS NEGOTIATED WITH THE US, UK, IMF ECT

NOW..WE ALL CASH IN AT 86 CENTS

NOW

90 DAYS LATER…THE MAJORITY OF OUR NOTES WHICH ARE MOSTLY 3 ZEROED ARE RETIRED

THE ONLY ONES THAT CAN HAVE THEM IN POSSESION ARE GOVTS AS PER AGREED UPON WITH IRAQ AND THE IMF

NOW…THE US TAKES 23% (roughly) in taxes

AND AFTER THE 90 DAYS…THE DINAR ALL OF A SUDDEN SHOOTS TO 3.00

DOES IRAQ HAVE TO WORRY ABOUT THAT 3.00

NO

NOT THE US BOUT 1 TRILLION DINAR FROM, US FOR 1 TRILLION DOLLARS MINUS 230 BILLION IN TAXES

ITS NOW WORTH 3 TRILLION US

THEY TRIPLED THEIR MONEY ( FOREIGN CURRENCY RESERVE) BY JUST WAITING

AND 3 TRILLION DOLLARS COST THEM 750 BILLION DOLLARS

AND THEY DIDNT HAVE TO BAT AN EYE

NICE HUH?

NOT TO MENTION THE 4-5 TRILLION THEY ALREADY HAVE IN POSSESION THAT THEY PAID THE RATE 0F 4000-1 WHENI FIRST CAME OUT IN =2003

THATS 5-6 TRILLION DINAR…AT 3 DOLLARS PER DINAR EQUALLING15 TRILLION IN FOREIGN CURRENCY RESERVE

ENOUGH TO WIPE OUT THE FEDERAL NATION DEBT AND THEN SOME

SEE, THAT WASNT HARD TO FIGURE WHY IRAQ WAS SO IMPORTANT TO US AND WHY IT TOOK 7 YEARS TO GET TO THIS POINT

ALL DONE

Pug says to (22:16:48):

would it be smart to buy/exchange for lower denoms

mailman17 says to (22:17:01):

PUG..WONT BE THAT EASY

LOWER DENOMS MIGHT BE TOUGH TO GET OUT OF IRAQ

THINK ABOUT THAT NUMBER FOR AWHILE…LET IT SINK IN…15 TRILLION DOLLARS

dinarham says to (22:18:28):

Putting the money into the private sector would address the underlying problem of our economy,and economies world wide

mailman17 says to (22:18:37):

YEP

nugget says (22:18:35):

MMI7, here is what you said on Sept 17, so you are changing your mind???

mailman17 says to (22:19:05):

GO AHEAD NUGGET…WHAT DID I SAY

NUGGET…PLEASE REFRESH MY MEMORY…

YOU GONNA TRUST YOUR MONEY IN A FOREIGN BANK?

NO FDIC

BLmarine says to (22:20:59):

that was national bank of kuwait

mailman17 says to (22:21:09):

BUT CAN YOU LEAVE IT IN DINAR?

OR DOES IT HAVE TO BE CONVERTED INTO US

YOU PAID AT BEST $1000 PER MILLION

nugget says (22:22:19):

MM17, my copy and paste dosen’t work into chat but you and night were talking about how it easily could come in 3+, you said “the eoro and many other things need it at that right off the start”

mailman17 says

OH…OK…LET ME EXPLAIN THAT ONE…OK?

I REMEMBER NOW…LET ME EXPLAIN IN CHAT

CAN IRAQ GO TO 3?

SURE THEY CAN

BUT WILL THEY IS THE QUESTION

Pug says to (22:24:13): according to TK they can go to $8 LOL

ngsg says to (22:24:31): thats funny pug lmbo

mailman17 says

WITH THEM GOING TO FRACTION BANKING AND HAVING THEIR OIL AND GAS FUTURES AND GOLD TO BACK THAT UP…YES THEY CAN

BUT I DOUBT VERY MUCH THE IMF WILL ALLOW IT

HEY, DONT GET ME WRONG…I WOULD LOVE TO SEE 3.00

REALLY I W OULD

BUT THAT WOULD LEAVE NO ROOM FOR THE US TO TRIPLE THEIR MONEY

dinarham says to (22:26:07):

US is pressuring China about undervalued currency. If you can come out higher, but decide to come out lower, is that kosher?

mailman17 says to (22:26:24):

DINARHAM…IN IRAQS CASE…YES

IRAQ ISNT KILLING OUR ECONOMY LIKE CHINA IS

lmdinar says to (22:27:42):

but based on their oil reserves and gold and China’s ever increasing need for their oil, putting some dinar in a dinar account for three months and watching it on forex would be no different than other investments of that exchanged money..

mailman17 says

DO YOU THINK THE IMF HAS CONSIDERED THIS OPTION AND MAYBE PUT STIPS ON THAT?

NIGHT…GOT A QUESTION

DINAR BEING THE NEW KID ON THE BLOCK

I WOULD THINK THOSE BANKS THAT ALLOW DINAR AS A CURRENCY AND ARE SUBJECT TO US LAWS

WOULD ALSO BE SOMEHOW TIED IN TOT HE 90 DAY PERIOD…

IN OTHERWORDS…YOU WOULD BE FORCE TO CASH IN AT THE RATE IT IS AT AT THE END OF THE 90 DAY PERIOD…PUTTING IT IN US CURRENCY

YES?

AND NOT BE ALLOWED AFTER THAT TO SPECULATE ON A HIGHER RATE IF IT GOES UP?

Nighthk11 says to (22:40:15):

That is very possible MM17- However why would you? You have surrendered the large bills as required by the rules- so if you decided to cancel the account they would have to give you lower denoms

If the currency is international- I don’t have to do that with my euro acct at NBK

If the euro rises in value- I take the benifit from that rise and report the income to irs

I view an account in dinar with NBK NYC the same as an IRA- you pay when you cash in

I mentioned this only as an option for those who want to pursue the investment further- It will require some investigation on your individual part- If the dinar should come out at >25 cents-I am all out

mailman17 says to (23:03:06):

I CAN ASSURE YOU THAT EVERY SINGLE OPTION HAS BEEN DEALT WITH CONCERNING THE DINAR…ON EVERY LEVEL, ESPECIALLY THE BANKING LEVEL….AND ESPECIALLY WITH US LITTLE FISH IN THE SEA…

WE ARE MEANT TO MAKE WHAT THEY GIVE US AT CASH IN,,,NOTHING MORE…HOW YOU INVEST AFTER THAT IS YOUR OWN DEMISE

WE ARE NOT MEANT TO MAKE MORE THAN WHAT WAS PLANNED…PERIOD

JUST CASH IN…AND PUT IT IN SAFE INVESTMENTS…

Med says to (23:09:48):

AND I CAN’T BELIEVE THERE WERE ARGUMENTS

OVER THE BEST NEWS SO FAR

THAT WAS FORGOTTEN

SO WHAT ABOUT HOW MUCH ONE INSURES OR ONE DOESN’T

I COULD GIVE A RATS BEHIND

I JUST WANT AN RV

I WILL WORRY ABOUT THE REST LATER

I THOUGHT THAT IS WHAT THIS WAS ABOUT

AND WE ARE DELIVERING THAT INFO

WE ARE PUTTING THE CART BEFORE THE HORSE

LETS WIN THE RACE

AND THEN GET TESTED FOR STEROIDS AFTER

OH ONE THING

DID ANYONE READ THE LATEST ARTICLE

FROM THE MOF

ON THE REVALUE

reilly1 says to (23:14:08):

the one you emailed

Med says to (23:14:11):

YES

NOW THAT IS NOT DOCTORED

THE ONE I SENT TWO DAYS AGO

I HAD REMOVED THE SMOKE AND BS

NOW THIS ONE THAT CAME OUT FOR THE 20TH

HAD ALL THAT BS REMOVED

AND WAS MORE BLUNT

AND ALSO HAD THAT THE IMF WAS IN support

OF THE CHANGE OF THE DINAR

NOW TO ME

THAT IS NEWS

NEWS TO DISCUSS

NEWS TO REJOICE OVER

JRCivic says to (23:16:01):

This is the first time they have mentioned “enhancing the value of the Iraqi Dinar”

Med says to (23:16:05):

THAT IT HAS GONE FROM DISCUSSION

IN CBI

TO A RESOLUTION

AND THAT RESOLUTION OR DECISION

HAS GONE TO THE MOF

AND THEY AGREE

AND IT HAS MADE IT’S WAY TO THE IMF

AND THEY AGREE

I MEAN

HOW CAN ANYONE GET PISSY ON ANYTHING

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I don't buy the theory of a 90 day deadline. That's insane! The logistics from holders all over the world would make it impossible.

The last currency recalled by the CBI was in 2008 when they called in the 25 and 50 dinar coins.

The public was given 30 days to return them for exchange and after the 30 days they were no longer legal tender and are only sold as collectors items now.

So IF we go by the factual historic actions of the CBI we may see a 30 day exchange window for the RV.

After the 30 days all of the currency you now hold would be deemed worthless and non tender.

Just the facts..

Be ready for anything.

Phoenix

Edited by Phoenix
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mailman17 says to (21:53:55):

IF THE CENTRAL BANK GIVES 90 DAYS FOR THE 3 ZEROED NOTES TO BE TURNED IN…THATS ALL YOU GOT…90 DAYS

HAPPY…COUNT ON A DEADLINE…’

ITS IMPERATIVE TO THEIR M2

AND THEY ARE PROBABLY HOPING FOR SOME OF YOU TO WAIT

happyguy says to (21:55:44):

I’m not saying it’s impossible – I just don’t think we’re going to see a deadline.

mailman17 says to (21:56:04):

HAPPY…KUWAIT DID…

THE WHOLE KEY TO IRAQ SUCCEDDING IS TO GET THOSE NOTES TURNED IN…AND OVER TO THE GOVTS…PERIOD

THEY THEN WILL KNOW WHERE THEY STAND…CURRENCY WISE

IF THEY PLAN TO COME OUT AT 1.40…..90 DAYS LATER….THE ONLY ONES THEY HAVE TO WORRY ABOUT HAVING THE MAJORITY OF THE DIANR IS GOVTS

AND THEY WILL USE THEM FOR FOREIGN CURRENCY RESERVE

IRAQ CAN PRETTY MUSCH WIPE EM OFF THE BOOKS…

HAPPY…..DO WHAT YOU WANT….HOLD EM

THIS IS NOT NORMAL HAPPY

IRAQ HAS TO GIVE NOTICE…FIRST OF ALL

IF THEY PLAN ON RETIRING THE NOTES TO THE GENERAL PUBLIC

ONCE RETIRED…THOSE NOTES ARE NO LONGER DEEMED TRADEABLE CURRENCY BY THE GENERAL PUBLIC

KEY WORDS…GENERAL PUBLIC

BUSMAN..I DONT THINKTHEY HAVE 9 MILLION OUT

HIGH

DEPENDS ON WHO YOU BELIEVE

‘BANKS CANNOT RETIRE ANYTHING

LOL.BANKS.ONLY.RETIRE.USD.NOTTING.ESLE….HELLO

busman says to (22:01:39):

ok so it WON’t take them long to get 25k notes back…….

mailman17 says to (22:01:49):

BUSMNAN…EXACTLY

dinarham says to (22:02:07):

If Iraq wants to call in the high notes, an initially low rate is not the way to do it

mailman17 says to (22:02:33):

DINARHAM…ACTUALLY..THE LOWER THE BETTER

busery90 says to (22:03:02):

anyone know if the 30 days has started for Maliki to form a government have read some stuff that leads

mailman17 says to (22:03:19):

30 DAYS STARTED VETERANS DAY

TALABANI GAVE HIM THE NOD ON VETERANS DAY

butterfly says to (22:04:47):

he never needed 30 days even if it started Sunday….he has it done… it will be formed by the end of next week at the latest

mailman17 says to (22:04:55):

BF..CORRECT

dinarham says to (22:06:06):

Mailman, I agree to the extent that most small investors will cash in at a supposed lower rate, but we’re small potatoes

mailman17 says to (22:09:17):

DINARHAM…YES WE ARE SMALL POTATOES…LET ME SEE IF I CAN PUT THIS INTO PERSPECTIVE FOR ALL OF YOU…AGAIN

GIMME THE FLOOR FOR A SEC

OK

LETS SAY IRAQ COMES OUT AT 86 CENTS…AND LETS SAY THAT RATE WAS NEGOTIATED WITH THE US, UK, IMF ECT

NOW..WE ALL CASH IN AT 86 CENTS

NOW

90 DAYS LATER…THE MAJORITY OF OUR NOTES WHICH ARE MOSTLY 3 ZEROED ARE RETIRED

THE ONLY ONES THAT CAN HAVE THEM IN POSSESION ARE GOVTS AS PER AGREED UPON WITH IRAQ AND THE IMF

NOW…THE US TAKES 23% (roughly) in taxes

AND AFTER THE 90 DAYS…THE DINAR ALL OF A SUDDEN SHOOTS TO 3.00

DOES IRAQ HAVE TO WORRY ABOUT THAT 3.00

NO

NOT THE US BOUT 1 TRILLION DINAR FROM, US FOR 1 TRILLION DOLLARS MINUS 230 BILLION IN TAXES

ITS NOW WORTH 3 TRILLION US

THEY TRIPLED THEIR MONEY ( FOREIGN CURRENCY RESERVE) BY JUST WAITING

AND 3 TRILLION DOLLARS COST THEM 750 BILLION DOLLARS

AND THEY DIDNT HAVE TO BAT AN EYE

NICE HUH?

NOT TO MENTION THE 4-5 TRILLION THEY ALREADY HAVE IN POSSESION THAT THEY PAID THE RATE 0F 4000-1 WHENI FIRST CAME OUT IN =2003

THATS 5-6 TRILLION DINAR…AT 3 DOLLARS PER DINAR EQUALLING15 TRILLION IN FOREIGN CURRENCY RESERVE

ENOUGH TO WIPE OUT THE FEDERAL NATION DEBT AND THEN SOME

SEE, THAT WASNT HARD TO FIGURE WHY IRAQ WAS SO IMPORTANT TO US AND WHY IT TOOK 7 YEARS TO GET TO THIS POINT

ALL DONE

Pug says to (22:16:48):

would it be smart to buy/exchange for lower denoms

mailman17 says to (22:17:01):

PUG..WONT BE THAT EASY

LOWER DENOMS MIGHT BE TOUGH TO GET OUT OF IRAQ

THINK ABOUT THAT NUMBER FOR AWHILE…LET IT SINK IN…15 TRILLION DOLLARS

dinarham says to (22:18:28):

Putting the money into the private sector would address the underlying problem of our economy,and economies world wide

mailman17 says to (22:18:37):

YEP

nugget says (22:18:35):

MMI7, here is what you said on Sept 17, so you are changing your mind???

mailman17 says to (22:19:05):

GO AHEAD NUGGET…WHAT DID I SAY

NUGGET…PLEASE REFRESH MY MEMORY…

YOU GONNA TRUST YOUR MONEY IN A FOREIGN BANK?

NO FDIC

BLmarine says to (22:20:59):

that was national bank of kuwait

mailman17 says to (22:21:09):

BUT CAN YOU LEAVE IT IN DINAR?

OR DOES IT HAVE TO BE CONVERTED INTO US

YOU PAID AT BEST $1000 PER MILLION

nugget says (22:22:19):

MM17, my copy and paste dosen’t work into chat but you and night were talking about how it easily could come in 3+, you said “the eoro and many other things need it at that right off the start”

mailman17 says

OH…OK…LET ME EXPLAIN THAT ONE…OK?

I REMEMBER NOW…LET ME EXPLAIN IN CHAT

CAN IRAQ GO TO 3?

SURE THEY CAN

BUT WILL THEY IS THE QUESTION

Pug says to (22:24:13): according to TK they can go to $8 LOL

ngsg says to (22:24:31): thats funny pug lmbo

mailman17 says

WITH THEM GOING TO FRACTION BANKING AND HAVING THEIR OIL AND GAS FUTURES AND GOLD TO BACK THAT UP…YES THEY CAN

BUT I DOUBT VERY MUCH THE IMF WILL ALLOW IT

HEY, DONT GET ME WRONG…I WOULD LOVE TO SEE 3.00

REALLY I W OULD

BUT THAT WOULD LEAVE NO ROOM FOR THE US TO TRIPLE THEIR MONEY

dinarham says to (22:26:07):

US is pressuring China about undervalued currency. If you can come out higher, but decide to come out lower, is that kosher?

mailman17 says to (22:26:24):

DINARHAM…IN IRAQS CASE…YES

IRAQ ISNT KILLING OUR ECONOMY LIKE CHINA IS

lmdinar says to (22:27:42):

but based on their oil reserves and gold and China’s ever increasing need for their oil, putting some dinar in a dinar account for three months and watching it on forex would be no different than other investments of that exchanged money..

mailman17 says

DO YOU THINK THE IMF HAS CONSIDERED THIS OPTION AND MAYBE PUT STIPS ON THAT?

NIGHT…GOT A QUESTION

DINAR BEING THE NEW KID ON THE BLOCK

I WOULD THINK THOSE BANKS THAT ALLOW DINAR AS A CURRENCY AND ARE SUBJECT TO US LAWS

WOULD ALSO BE SOMEHOW TIED IN TOT HE 90 DAY PERIOD…

IN OTHERWORDS…YOU WOULD BE FORCE TO CASH IN AT THE RATE IT IS AT AT THE END OF THE 90 DAY PERIOD…PUTTING IT IN US CURRENCY

YES?

AND NOT BE ALLOWED AFTER THAT TO SPECULATE ON A HIGHER RATE IF IT GOES UP?

Nighthk11 says to (22:40:15):

That is very possible MM17- However why would you? You have surrendered the large bills as required by the rules- so if you decided to cancel the account they would have to give you lower denoms

If the currency is international- I don’t have to do that with my euro acct at NBK

If the euro rises in value- I take the benifit from that rise and report the income to irs

I view an account in dinar with NBK NYC the same as an IRA- you pay when you cash in

I mentioned this only as an option for those who want to pursue the investment further- It will require some investigation on your individual part- If the dinar should come out at >25 cents-I am all out

mailman17 says to (23:03:06):

I CAN ASSURE YOU THAT EVERY SINGLE OPTION HAS BEEN DEALT WITH CONCERNING THE DINAR…ON EVERY LEVEL, ESPECIALLY THE BANKING LEVEL….AND ESPECIALLY WITH US LITTLE FISH IN THE SEA…

WE ARE MEANT TO MAKE WHAT THEY GIVE US AT CASH IN,,,NOTHING MORE…HOW YOU INVEST AFTER THAT IS YOUR OWN DEMISE

WE ARE NOT MEANT TO MAKE MORE THAN WHAT WAS PLANNED…PERIOD

JUST CASH IN…AND PUT IT IN SAFE INVESTMENTS…

Med says to (23:09:48):

AND I CAN’T BELIEVE THERE WERE ARGUMENTS

OVER THE BEST NEWS SO FAR

THAT WAS FORGOTTEN

SO WHAT ABOUT HOW MUCH ONE INSURES OR ONE DOESN’T

I COULD GIVE A RATS BEHIND

I JUST WANT AN RV

I WILL WORRY ABOUT THE REST LATER

I THOUGHT THAT IS WHAT THIS WAS ABOUT

AND WE ARE DELIVERING THAT INFO

WE ARE PUTTING THE CART BEFORE THE HORSE

LETS WIN THE RACE

AND THEN GET TESTED FOR STEROIDS AFTER

OH ONE THING

DID ANYONE READ THE LATEST ARTICLE

FROM THE MOF

ON THE REVALUE

reilly1 says to (23:14:08):

the one you emailed

Med says to (23:14:11):

YES

NOW THAT IS NOT DOCTORED

THE ONE I SENT TWO DAYS AGO

I HAD REMOVED THE SMOKE AND BS

NOW THIS ONE THAT CAME OUT FOR THE 20TH

HAD ALL THAT BS REMOVED

AND WAS MORE BLUNT

AND ALSO HAD THAT THE IMF WAS IN support

OF THE CHANGE OF THE DINAR

NOW TO ME

THAT IS NEWS

NEWS TO DISCUSS

NEWS TO REJOICE OVER

JRCivic says to (23:16:01):

This is the first time they have mentioned “enhancing the value of the Iraqi Dinar”

Med says to (23:16:05):

THAT IT HAS GONE FROM DISCUSSION

IN CBI

TO A RESOLUTION

AND THAT RESOLUTION OR DECISION

HAS GONE TO THE MOF

AND THEY AGREE

AND IT HAS MADE IT’S WAY TO THE IMF

AND THEY AGREE

I MEAN

HOW CAN ANYONE GET PISSY ON ANYTHING

The theory of $.86 certainly makes some logical sense. However, are we sure that the US Treasury has bought 1 trillion dinar? I was under the impression that the US Treasury bought 3 trillion Dinar.

If the US bought 3 Trillion Dinar, than I can still see an RV @ $3.22 or more.....any thoughts?

Edited by cplinedrive
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The last currency recalled by the CBI was in 2008 when they called in the 25 and 50 dinar coins.

The public was given 30 days to return them for exchange and after the 30 days they were no longer legal tender and are only sold as collectors items now.

So IF we go by the factual historic actions of the CBI we may see a 30 day exchange window for the RV.

After the 30 days all of the currency you now hold would be deemed worthless and non tender.

Just the facts..

Be ready for anything.

Phoenix

That's fine Phoenix... I can understand an in-country exchange giving 30 days. However, I doubt many of the 25 and 50 dinar coins were sold on the international market. Seriously who would buy them? You would have to purchase a truckload just to make it worthwhile and the shipping costs (coins and weight) would be exceedingly high. Giving the entire world 90 days is a huge undertaking and I just don't see it. It defies logic... but we are dealing with Iraq :huh:

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That's fine Phoenix... I can understand an in-country exchange giving 30 days. However, I doubt many of the 25 and 50 dinar coins were sold on the international market. Seriously who would buy them? You would have to purchase a truckload just to make it worthwhile and the shipping costs (coins and weight) would be exceedingly high. Giving the entire world 90 days is a huge undertaking and I just don't see it. It defies logic... but we are dealing with Iraq :huh:

The nation of North Korea just this year called in all of their currency and issued new.

They gave 1 day notice and 7 days for exchange!

That was just 7 days for all of the currency in the whole nation to be exchanged!

After the 7 day deadline any of the old cash was deemed worthless!

That happened this summer.

I am not saying this is what Iraq will do but what I AM SAYING is be ready for ANYTHING!

Edited by Phoenix
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There will be an exchange window.

We do not know what that time frame is yet but, it is going to be there.

Plan on 30 days min.

If you are not prepared now for this event, I do not know what else to tell you. If you snooze, you loose.

wilecoyote- what do you mean by being prepared for this event? How do you become prepared?

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  • 2 weeks later...

wilecoyote- what do you mean by being prepared for this event? How do you become prepared?

You need to have your plan together, where are you exchanging at, do you have your legal team together (CPA, tax advisor, Investment guru, photo id's, offshore accounts, LLC's,trusts, etc) . People are still asking how to gift to churches and family/ friends. One should already know this, Google tax laws, and gifting laws.

You cant leave everything to Adam to hold your hand because everyone will have a different situation and plan. Now is the time to be smart.

Do you know if it is Long term, Short term cap gains or will it be treated as income? These are questions you should be asking certified professionals.

What are you going to do with it once you exchange? Bank accounts? Annuities? Invest? CD"S, Money market accounts, Accounts FDIC insured?

The smaller the exchange window, the less time you will have to run around without a clue trying to get it all together.

Example, will you be able to take vacation from work to go to a bank or other exchange points?

Do you know what will happen at a bank when you walk in with your suitcase full of dinar?

Does the bank have a DeLaRue machine for Iraqi dinar or will they send it off to a larger branch ?

Are you exchanging with Ali and have you allowed yourself the time for travel and expenses?

NOW IS THE TIME TO HAVE ALL OF THIS DONE>.

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