the rate has gone up and they need to report back on Monday

[skooter]

Just found this is it true????????????

I am going to present this as info. I cannot give it to you as intel because I only have two confirmations. I am willing to share it because they are family connections. Soldiers calling their loved ones. The first one came in this past Tuesday

[hypr2001]

I have just sent an e-mail to USAA to confirm the branch in the green zone and asked if they had any rate changes in the last week. I sent it just before i wrote this response and should have an answer within 24 hrs. I am a member so maybe it will make a difference on a reply, maybe not. I will let you know how it goes. This is a copy of what I sent......

I was recently told by a troop that there was a "branch" of USAA in Baghdad. I just wanted to confirm this and also ask about the purchase of Iraqi Dinar. Do you have dealings with the Iraqi Dinar and if so, what would the exchange rate be? Have you had any exchange rate changes in the last week?

Thank You

[skooter]

Your awesome THANKS

I have just sent an e-mail to USAA to confirm the branch in the green zone and asked if they had any rate changes in the last week. I sent it just before i wrote this response and should have an answer within 24 hrs. I am a member so maybe it will make a difference on a reply, maybe not. I will let you know how it goes. This is a copy of what I sent......

I was recently told by a troop that there was a "branch" of USAA in Baghdad. I just wanted to confirm this and also ask about the purchase of Iraqi Dinar. Do you have dealings with the Iraqi Dinar and if so, what would the exchange rate be? Have you had any exchange rate changes in the last week?

Thank You

[CaptainJack]

Got an email from my lifelong friend, a Lt. Col. serving in Iraq .... no rate change ... I asked him to find out what he could about the Dinar and a potential RV. He was told by the Army's International Finance Advisor .... No RV until .....

1. Elections are held

2. Rate approved by IMF

He also said it will come out at a very low value, but as the entire political and financial climate improves and stabalizes, it'll go up just as any currency would that is based on a strong economy.

[tuxunder]

I always thought it odd that it would come out before the election. Politicians rarely do anything of importance before elections for fear it may cost them their jobs.

[Guest marketralley]

I believe Mr. Capitan Jack more than Skooter. Capitan seam’s to be something that he came up with just to diss Scooter. Sorry Capitan but don't try to discredit someone else by writing a totally fake post.

[skooter]

It a question "rumor found on another site" I am asking if this is true. I am NOT saying it is true read the post

I believe Mr. Capitan Jack more than Skooter. Capitan seam

[DECORMIER]

It seems that everthing is rumore starting to wonder if we all are fools about the rv

[terr]

Read today on Associated Press site:

Obama trumpets Asia trip as boost to US Economy-Citing progress on a trip that took him from Tokyo to Seoul- "Asia is a region where we now buy more goods and do more trade with than any place in the world - commerce that supports millions of jobs back home".

[DECORMIER]

It seems the dong will rv before iraq does

[skooter]

Been wonder the same thing but someday lets hope it will happen.

I do not believe in INTEL. When I see Intel now I see rumor i find that sad that people would do that to each other but whatever read everything with caution

It seems that everything is rumor starting to wonder if we all are fools about the rv

[DECORMIER]

I hear ya i also have the dong currency its allready on forex and they are moving forward and further along then iraq is by far

[skooter]

LOL I saw that on other site so you know that was not me, I guess you cant have two people in the same house log on to a site wont let you???

When I read it I thought wow this is like the 5th thing I did not write; thought I was going nuts or doing it in my sleep .

Then when I say the Aussie $ i knew who it was someone that was staying with us for a 2 weeks has dinar they were looking around on sites they also have Aussie $ so I put 2 and 2 together. and then learned about the IP address ......................

It seems the dong will rv before iraq does

[hypr2001]

Hey Skooter,

I FINALLY got the reply from USAA. I am including the whole message. Minus MY name of course, lol. Its kind of lengthy. I just wanted ya to know I didnt forget.

Dear Mr. M******,

Thank you for your e-mail regarding Iraqi Dinar. I believe that we some members of the USAA Military Affairs department will be visiting Iraq to connect with those that are serving. This is not a permanent post or an Iraqi branch, but more of a good will tour and a temporary service stop to help out. Unfortunately, I do not have details to provide at this time for locations or dates.

No, USAA is not involved in any foreign currency trading, Iraqi Dinar or otherwise. It is great you want to invest for the future. It will be important for you to gather information and explore your options, if you pursue something as speculative as trading Dinar.

The main thing to keep in mind is that Iraq is a postwar country and is currently unstable. Investing in Iraqi Dinar is risky, so regardless; you only want to invest what you can afford. Also, consider this investment as one of the most risky in your overall portfolio.

A few of the risks that are involved with this investment include political risk, liquidity, and pricing. As far as the political risk are concerned, there is no certainty for the future of the Iraqi government. If current efforts do not succeed to establish a strong democracy for the long run (or perhaps even if it does), the local currency could be changed to something besides the Dinar which would make your current investment worth nothing. The country could even be split between a currency for the North and the South. There are no guarantees that the Dinar will be sustained as the currency for the future, therefore your entire investment is strictly speculative.

The liquidity is important since you do not want to tie up all your money in an investment that is difficult to capitalize on your gains. To sell your Dinars, you would need to work through a bank that trades Iraqi Dinar. At this time, there does not seem to be a western bank that currently trades the Dinar and it is near impossible to speculate when banks will start trading this currency. Many people believe that when the Iraqi economy is back on its feet and the Dinar is traded internationally, you will be able to sell your Dinar to your bank. In the mean time, however, there is no guarantee that you will find a place to "cash out" and sell your dinars and most dealers who sell Dinars will not buy them. Again, the lack of liquidity in this investment is one of the biggest risks you take when you invest in the Dinar.

As far as pricing is concerned, the Dinar exchange rates vary widely. So, going back to the liquidity, if you were able to find a buyer or exchange your Dinar, you are subject to the going rates. These rates are all different and it seems as though everyone has his own price.

In summary, it is strictly speculative as to how this investment will evolve and whether or not is a good investment long term. Before you make the decision to purchase more Dinars, you want to make sure that you have developed a solid, well diversified portfolio that could afford to take a loss if the Iraqi Dinar never came to fruition. The amount that you contribute should only be the amount that you can afford after meeting all your existing financial goals and investment objections. If you were to make a profit, I would recommend speaking with a Certified Public Accountant (CPA) to see what type of tax implications you may be assessed with. Finally, there is no certainty as to whether or not the Iraqi Dinar will be traded internationally allowing you to buy or sell in World Banks.

USAA values your service to our country, and your 17 years of membership. I appreciate this opportunity to serve you. Please know that whether you decide to e-mail, engage the personalized guidance of our CERTIFIED FINANCIAL PLANNER TM Professionals, or use the tools we provide on usaa.com, we are here to help you every step of the way.

Thank you,

Laurel Bragg

USAA