What do you feel about Phoenix's Time limits ?

[Danneedsrvnow]

their new year starts dec 1..not jan 1 like the states

Where did you get this info?

[Danneedsrvnow]

Am I the only one here that thinks it's completely ridiculous to even be coming up with scenario for an rv as late as Dec.25th? I realize Phoenix is not necessarily implying the rv will happen after Dec.25th, it could happen sooner indeed. My thinking is if Maliki does take his 30 days, I personally can't see it happen this year!! I'm not saying I believe it won't happen this year, because I do...however the above scenario is just plain crazy imo. We just need to see quick movement in the GOI. Is chapter VII still an issue of being removed the end of this month? There was an article that was referring to possibly get them out by the end of November? Once again we have been told numerous times that the rv will come before chapter VII. Here's hoping!!

Dan

[doc9574]

unless I missed something It read 7 to 45days not 7 and I believe Phoenix restated that as well but maybe I was reading a different thread , if so my apologies.

[Bandito]

I think his timeline is all based on when the GOI is all picked and the 2011 budget released...then the clock starts

[jmw]

What I don't understand is he used North Korea as an example of a revalue but theirs was a redenomination not a revalue....If there is a "window" to exchange that would mean that they would be redenominating their currency but not neccessarily revalueing it. And, if there was a redenomination they would have to change currency in country as well...they have stated many many times that the new currency will coexist with the existing currency so even a 45 day window seems very short for a country as challanged as Iraq is.

[Motorco]

However it goes down, personally I wont need more than 24hrs to cash in....even if that means camping out at the bank lol

[prosperityclub]

Phoenix was just trying to tell us all to be prepared and ready for anything at anytime. Don't head out the door without a plan. Don't get overexcited and worried, relax and teach and promise yourself to remain calm and composed, because we will all need to be in the right frame of mind when that day comes. Most of all, don't get emotional.

The time frame in his post states 7 days to 45 days, it's very possible that it could very well be more than 7 days, but be prepared in case it won't be.

Get all your papers together, and don't forget your dinars!!

Edited November 26, 2010 by prosperityclub

[quadraph0nic]

Well, I re-read phoenix post, it didnt really hit me like some others, and I think a lot of people got excited over nothing because they did not properly comprehend. That tells me 1 thing some of us may not be prepared...oye vey

What he put out there is a possibility based on past events in recent history but C'MON people, didn't you already think of this scenario when you were buying this cash currency way back when? Didn't you already think that conditions could be applied on Iraq's currency? Why do you think Adam put a how to get a warka account on his other dinar site? And some of the very very best advice Adam ever gave was to be diversified in your investing in Iraq's currency/stocks. Why? Because this thing could play out many ways and we are without a crystal ball.

You don't have control of the conditions they may or may not put on us after it RVs but you can do the very best to prepare yourself. Here's an idea, store the dinar in a safety box in the vault or a secured area of a reputable bank that you feel you can cash out with in case you don't have time to find the best spread. No security issues, no real fuss....Its free money anyway when it RVs, so don't be a greedy knuckle head looking for a better rate if time is of the essence!!

You should also be a few clicks away if you have a warka account, ready to hit send on a wire transfer. You can initiate it from your warka account or from your U.S. account....

BOTTOM LINE BE PREPARED!!

I haven't always liked what Phoenix said and at the same time I think its ridiculous to expect someone to right 100% of the time but he changed my mind about allawi before all the politics unfolded, he did not change my mind about warka but hey, in the end I give the man credit because he has the cojones to put out there what he believes and he's pretty sharp.

And as for some of these other members in Phoenix's thread that's now locked, who are out to "expose" him, please give me a break. I think we can all do without the dinar drama...

Edited November 26, 2010 by quadraph0nic

[ecosov]

Sounds like many have not listened to, or lost sight of the info talked about here:

760.569.7699 Pin 287676

[meatmen4dinar]

HI All,

what do you make of the phoenix post and the time limit to cash in ??

theiraqidinar.com/2010/11/25/phoenix-post-dinar-vets-112510-heads-up/

The more I think about it and the rates he has stated, the more realistic this becomes. This scenario would really throw the s*** into the fan. The rates are good enough and very very realistic but the time frame is not. It's not realistic if you expected the popluation to have time to cash in their Dinar. But very realistic if you wanted to cheat them, I have no qualms in expecting the authorities to try and cheat us.

I hope this is not the case, but can imagine something like this happening to screw the private investors. Gee they could really screw us, if we have just 7 days to cash in, and those 7 days are over xmass and new year

I am getting worried as I see this coming about as Phoenix explains it, the new currency will be around for the 1 jan 2011 and the old will be gone for good. They will have settled their own accounts abut leave the private investors in the crap or having a very hard time to get cashed in in time. Makes perfect sense to start fresh in a new financial year with a new currency doesn't it ?

We can call the time limit unreasonable, we can cry all we want, but that wont make one bit of difference to the outcome. The iraqi's will have no problem exchanging and thats good for them they deserve it, but the westerners will have problems that's for sure.

I sincerely hope that someone can come to the fore and tell me that this wouldn't or can't happen, hopefully someone will tell me that my problems are unfounded.

Here's to hoping !!

How do you figure that 7 days is not enough time to cash in? What is sooo hard about getting in your car and going to bank of America or Chase and cashing in? Me, all I need is 1 day!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[inHishands]

Being ready is a great suggestion and game plan. Plus when you call into Dinartrade and make your appointment you can lock in that rate so it wont matter if your appointment is past the 7 days, right? Also, shouldnt there be a currency exchange time frame, legally? Especially if they are eliminating that currency? I really appreciate all the info and hard work all of you do to help inform us, thanks for sharing your info and thoughts. I've learned so much from this site!! And I truly believe we will have a very Merry Christmas

[inHishands]

However it goes down, personally I wont need more than 24hrs to cash in....even if that means camping out at the bank lol

Camping out at a bank, that sounds like fun!! just dont forget your blankie and dont wear a ski mask if its cold, unless you want a full body pat down, like at the airport

It would be a "black bank friday" sales event or a dinar tailgate party!!

[ecosov]

Being ready is a great suggestion and game plan. Plus when you call into Dinartrade and make your appointment you can lock in that rate so it wont matter if your appointment is past the 7 days, right? Also, shouldnt there be a currency exchange time frame, legally? Especially if they are eliminating that currency? I really appreciate all the info and hard work all of you do to help inform us, thanks for sharing your info and thoughts. I've learned so much from this site!! And I truly believe we will have a very Merry Christmas

There is no way in God's green earth will there be a minimum 7 day time limit to cash in. It is not intended to be an inconvenience! There was an article (*no link, but from a very credible source) from the finance ministry of Iraq that says there will be a timeline of 18 - 24 months. 30 days to 6 weeks is solid ground

* 760.569.7699 Pin 287676

[icfaith]

People, people, all he was trying to say is be prepared. Have your avenues ready.

I saw someone on here post, "how long can it take? 15mins to go to your BoA and cash out.

If this is what your thinking, better think again. You will not be prepared.

When you go to BoA or any other branch that is not the main branch, they will ask you to let them send your dinars to their main branch for authentication. You need to find out from your bank now, if you give them your dinar, how will they insure them while they are not in your hands. How will they send them to their main branch. What time frame will it take to get to their Main Branch. How long will it take for the Main Branch to verify the dinars. How long after they verify them will it take to place the money in your account.

Then once authenticated, they will transfer the funds into your account. A bank will not transfer currency in large amounts without you having an account with them. Anyways, this could take up to a week to complete. The bank you go to will mail the dinar to their main branch for authentication. So check with your bank, if they do currency conversions and see what their procedure is. Verify you have to have an account, if so get one opened now, save yourself the grief of trying to do this the day you want your money. Many if not all banks that do currency conversions will not assist a person without an account. If the bank has a delerue machine, it may not be set up to do dinars. Find out if it is.

So, yes, there are steps you can complete now before the RV to have yourself ready. Simple things as know the hours of operation. Get to know the Manager, this always helps.

When you take your dinar to the bank, you will need two or sometimes three forms of picture ID AND a utility bill to verify your address. Have these ready. If they don't need a utility bill then no big deal. Find out what you will need.

Check different banks on the spread. You can do this now by asking about what their conversion rate is on the Euro. This will give you an idea what that bank trys to make off currency conversions. This way you'll get the best deal and know about it way ahead of time.

If you do not prepare ahead of time, you make be making multiple trips to the bank just to get your dinar converted.

So the window you may have is an important factor if you do not have your ducks lined up.

Edited November 26, 2010 by icfaith

[jmw]

Sounds like many have not listened to, or lost sight of the info talked about here:

760.569.7699 Pin 287676

Really?....I thought it was more of a joke.....there's 10 minutes i won't be able to get back.

[whisky runner]

I believe what Iraq said .... come out at .86 and take the 3 zero's notes off the market and the .00086 to .86 by the end of the year .... Then after it goes on the world market it will go up to $1.17 ... Then the last day it will be even with the euro $1.30 ... Iraq paid all the nations and large companies that did not forgive them of there debts ... The next day they fall to $.27 cents ... The world bankers will punish the nations and large companies for not forgiving them of Saddam's debts. ... but all will be paid off in full ...

So get in and exchange you dinar between Christmas day and New Years Day because the 3 zero's note will be no longer excepted on the as of Janurary, 1, 2011... We know iraq waits till the last second to do things ...

Then the 500 dinar notes becomes like a $120 dollar note ... the 250 note becomes a $60 ... the 50 dinar note becomes like a $12.......his fits in to the banking world.

The reason for the .27 cent is iraq needs to rebuild so they need cheap money for the imported worker ... like china's cheap money ... and all nations and businesses will be paid in full to avoid law suits ... and with cheap money they can rebuild their Country ...

large investor just waiting to buy the dinar take big loss also ... buy at $1.17 have to sell at .27 cent... like iraq said ... we will revalue with the middle east countries like they have been tellling us ... Saudi, Iran Afghan , they will match with them .. cheap money ...

[tcjams]

How do you figure that 7 days is not enough time to cash in? What is sooo hard about getting in your car and going to bank of America or Chase and cashing in? Me, all I need is 1 day!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You beat me to the punch.....1 FREAKIING DAY?!?! I'm going on my lunch break!!!! I think what's being missed here is the talk about GREED..plain and simple. If you're worried about the cash in period it's because you "may" be afraid you might not get your "appointment" in time. If you don't get an appointment in a specified time and miss out, you obviously didn't have a "PLAN" in place. If you plan on going to a dealer...FINE, can't make an acceptable appointment then you think you're screwed?!?! Paaaaaaaleeeezzzzz!! Take yo GREEDY A$$ to the bank and be done with it. SIMPLE AS THAT. With so many intelligent people on this forum I can't believe something so simple has turned into such a debate. Jus say'n........

[caz1104]

You beat me to the punch.....1 FREAKIING DAY?!?! I'm going on my lunch break!!!! I think what's being missed here is the talk about GREED..plain and simple. If you're worried about the cash in period it's because you "may" be afraid you might not get your "appointment" in time. If you don't get an appointment in a specified time and miss out, you obviously didn't have a "PLAN" in place. If you plan on going to a dealer...FINE, can't make an acceptable appointment then you think you're screwed?!?! Paaaaaaaleeeezzzzz!! Take yo GREEDY A$$ to the bank and be done with it. SIMPLE AS THAT. With so many intelligent people on this forum I can't believe something so simple has turned into such a debate. Jus say'n........

DING DING DING!!!! We Have A Winner in the Common Sense/Use Your Friggin Head Award! Thanks,Great Post!...................................................GO RV BABY!!!!!!

[Phil b]

Thanks for the great comments, some I can really use and others - well you know what I can do with those.

You have to remember we don't all live in the states, here in Denmark things are very different indeed.

For example when I wanted to send a bankers check to Ali it took me 3 days just to get the cheque, THAT IS BECAUSE ALL FOREIGN CHEQUES ARE MADE FROM HEAD QUARTERS NOT IN LOCAL BRANCHES.

We also have to order our foreign currency as usually not much,and in some currencies none is held in local banks.

Some banks are also cash free ??? can you believe that they don't have any cash at the bank its all electronic ???

We also have red flags raised when we transfer JUST 10,000 DKR THAT'S ONLY $1750.

They have also stopped people and checked their person for cash amounts at airports recently, the limit for cash is just 50,000 dkr thats $10,000, so I will be taking a risk just taking anything over 500 IQD . I AM NOT RICH BUT I HAVE MORE THAN THAT THANKFULLY!

When speaking to banks here when I wanted to buy IQD, they adviced me to buy USD as they never dealt with IQD.

So people are telling me to just go to the bank it'll only take 10 minutes. It'll take them more than 10 minutes to find out what an Iraqi Dinar is, trying to talk to them now is like banging your head against a brick wall.

But yes I will have to bang a few heads and I simply must find out NOW how this will pan out in various banks here. It wont be easy and I guarantee you it wont be done in 10 minutes.

I am certain the de la rue machines wont be in every bank either, so that will be further planning.

Yes I have also read posts about cashing in in various time frames and I too was thinking before that there would be plenty of time to cash in, but since then things haven't really given me the impression that Iraq the IMF or World bank will take any notice of the "little man" if they had that in mind why would they suggest differing rules for the larger banks and national reserves. They could just say the money should be in by that date for everybody.

Edited November 27, 2010 by Phil b

[umbertino]

How do you figure that 7 days is not enough time to cash in? What is sooo hard about getting in your car and going to bank of America or Chase and cashing in? Me, all I need is 1 day!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

That would depend on how many Dinars one needs to exchange. And if some ( or all ) Banks have daily foreign currency transaction limits of $2,000 per day. Then some ( or most) will be in deep doo-doo

Edited November 28, 2010 by umbertino

[brichards513]

I have read through a number of comments - all of which make valid points. After some careful consideration - there are a couple of points that I would like to add to this conversation.

First - from my understanding - there are two types of worries: Worrying about things that you can change & Worrying about things that you cannot change.

If you are worried about something that you have the ability to change - stop worrying and get busy and make the changes needed: hence - BE PREPARED FOR ANYTHING!

If you are worried about something that you have NO ability to change - Date, Rate, GOI, etc. - stop worrying - because all of the worrying in the world won't make a hill of beans difference - you can't change it!

Now my second point - everyone here has been getting all worked up over a short window for the cash in (7-45 days from what I have read). My question is simply this - When has the Iraqi administration done ANYTHING on time or in a timely fashion?????? They voted way back in March of this year - and they still don't have a government seated! Multiple other deadlines and timetables have been missed, extended, or just plain ignored. Again - when has there been anything that has been done on time??!! Why do we think for a minute that they can get their act together and accomplish something like this (only a 7 day window). And another point that was brought up earlier - the whole goal is to bring Iraq back onto the World Stage politically and economically - pulling a stunt like this would basically eliminate any and all credibility that they might have Internationally. It would be suicide to do something like this that would have multiple groups bending over and grabbing their ankles! I just don't see it happening! IMHO

God Bless! Go RV!

[viagra]

i think we know just as much as him which is nothing

[inHishands]

There is no way in God's green earth will there be a minimum 7 day time limit to cash in. It is not intended to be an inconvenience! There was an article (*no link, but from a very credible source) from the finance ministry of Iraq that says there will be a timeline of 18 - 24 months. 30 days to 6 weeks is solid ground

* 760.569.7699 Pin 287676

I was just saying that for those who are concerned about the 7 days to not be, if you want to trade with Dtrade (because you have to make an appointment ) you can lock in that rate, no worries. And being a newbie I was also trying to confirm that what I understood was correct. And the only ones who should be concerned are those who are lost in the Grand Canyon and left their dinar at home

[Captjohn]

If you go back and read his post and READ it carefully, he DID NIOT say anything about 7 days to cash in. He stated that the time frame was 7 days MINIMUM and 45 maximum. Please read carefully before you start thingd like this!

M oe

IMO, just more childish hand wringing. Think. Iraq, as crazy as it is, is no North Korea. The Iraqi dinar will impact the whole world economy. How much of the world did the N. Korean currency reval impact? Let calmer minds prevail. GO RV.