Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Adam M & Sonny1 12/1/10

JBrookes

By JBrookes,
in Chat Logs

 Share

Recommended Posts

  • Replies 104
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Popular Posts

dinarmoneyman__702
dinarmoneyman__702

total crap...if there is a time limit and a short one at that its called a redenomination and thats not good news...if they were just introducing the smaller denoms and gradually pulling the big bills

pleasantvalleySunday
pleasantvalleySunday

who the heck needs a 2 hour conference call when we have access to the Master love it, NO BS just facts .... if you caught it, and you've read the book, you know that Adam has experience with the Kuw

Bumper64
Bumper64

Well said!!! ( +1)

JBrookes Newbie

JBrookes

Posted
  • Author
Posted

Actually i can tell you that information...

Cannot tell you too much about the large bills sorry

In 1922 they changed from large bills to small ones.......

they made red notes, brown notes, silver certificates, green notes, $1 funny backs, Hawaii had the brown note changed to green back(if anybody has real brown notes that say Hawaii on the back I am interested)

The USA had a $10,000, $5,000, $1000, $500 note. All were taken out of circulation. The $10,000 and the $5,000 were used for bank to bank transfers. The $1,000 and $500 are still commonly traded between collectors and occasionally seen at banks. (note bankers are not allowed to take them because they cannot prove their authenticity)

When the USA came off the gold and silver standard, their silver certificates changed to the green back and some red notes in the late 5os and early 60s mainly on the $2, $5. The $10 and higher went to the green back. The green backs changed design again in 1996 I believe, and every four years there after they have changed for security purposes. Except for the $1 mainly due to the fact that it is not economical to try and counterfeit the $1.

now let me ask you a question...

Which US Paper bill does not have a president on it??

Very nice! :) Thank you! But the person I asked the question did not answer.

The answer to your question is there are actually 2 bills! The $10 which has Alexander Hamilton on it & the $100 which has Benjamin Franklin on it. :)

  • Upvote 3
Link to comment
Share on other sites
Snowlover Newbie

Snowlover

Posted
Posted (edited)

I only have one Master and it isn't Adam Montana! Its always good to hear others information. I have never taken one mans word for anything in my life. Other than God's word, all is subject to question

I would be quite sure that PVS was not using Master to refer to our Lord, but as someone with knowledge and expertise...as in master craftsman.

Snow

Edited by Snowlover
  • Upvote 1
Link to comment
Share on other sites
Trill Newbie

Trill

Posted
Posted

who the heck needs a 2 hour conference call when we have access to the Master :) love it, NO BS just facts .... if you caught it, and you've read the book, you know that Adam has experience with the Kuwait dinar .... so many people still choose to call that a "myth" ... I think not!!

Thanks Adam and sonny1 for your continued no non sense info and obviously genuine interest in keeping us up to speed!

Thanks JBrookes for copying and sharing! you rock sister!

blessings,

pvS

(edited out negative garbage)

  • Upvote 3
  • Downvote 1
Link to comment
Share on other sites
Butifldrm Apprentice

Butifldrm

Posted
Posted

History of Kuwait's Currency

"The first issue was the result of the promulgation of the Kuwaiti Currency Law in

accordance with the Amiri Decree No. (41) of 1960. This Law stipulated that the

Kuwaiti Dinar shall be the national monetary unit and established the Kuwaiti

Currency Board under the chairmanship of then Minister of Finance and

Economy, Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah, currently the Amir of Kuwait. Accordingly, on the first day of April 1961, the first issue was put into circulation, replacing the then circulating "Indian rupee". It was withdrawn from circulation effective February 1, 1982 and ceased to be a legal tender on May 31, 1982.

The Second issue followed the establishment of CBK in replacement of the Kuwaiti Currency Board, thus taking over the latter's function of issuing currency notes and coins in addition to much broader tasks. The second issue was put into circulation starting on November 17, 1970 for 1/4, 1/2, and 10 dinar notes and on April 20, 1971 for 1 and 5 dinar notes. The second issue was withdrawn effective February 1, 1982, and ceased to be a legal tender on May 31, 1982.

Following the accession of H. H. Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah, the third issue was put into circulation by CBK on February 20, 1980, in the denominations of KD 10, 5, 1, 1/2 and 1/4. On February 9, 1986, a 20 dinar note was put into circulation. Due to the exceptional circumstances ensuing from the Iraqi invasion of Kuwait in 1990, this third issue was withdrawn from circulation effective March 24, 1991, and ceased to be a legal tender after 45 days from that date. The right of exchanging these notes at

the CBK expired on Saturday, September 30, 1991.

Soon after liberation, the fourth issue was put into circulation on March 24, 1991, so as to allow for a speedy exchange of the withdrawn third issue and to ensure the country's swift economic recovery. The fourth issue was withdrawn from circulation on August 17, 1994 and ceased to be a legal tender effective February 16, 1995. These notes can still be exchanged at CBK until Monday, August 16, 2004.Soon after liberation, the fourth issue was put into circulation on March 24, 1991, so as to allow for a speedy exchange of the withdrawn third issue and to ensure the country's swift economic recovery. The fourth issue was withdrawn from circulation on August 17, 1994 and ceased to be a legal tender effective February 16, 1995. These notes can still be exchanged at CBK until Monday, August 16, 2004.

The Fifth Issue of the Kuwaiti Currency was placed into circulation effective Sunday, April 3, 1994. It is the current circulating currency of the State of Kuwait and utilizes high-level technology utilizing technical features and security developments realized by the Bank Note printing industry."

Link to comment
Share on other sites
Butifldrm Apprentice

Butifldrm

Posted
Posted

Here is a brief history of the Kuwaiti Dinar, I found it interesting that even though there were time limits set by the CBK, the notes were still exchangeable for six months post currency change. :)

History of Kuwait's Currency

"The first issue was the result of the promulgation of the Kuwaiti Currency Law in

accordance with the Amiri Decree No. (41) of 1960. This Law stipulated that the

Kuwaiti Dinar shall be the national monetary unit and established the Kuwaiti

Currency Board under the chairmanship of then Minister of Finance and

Economy, Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah, currently the Amir of Kuwait. Accordingly, on the first day of April 1961, the first issue was put into circulation, replacing the then circulating "Indian rupee". It was withdrawn from circulation effective February 1, 1982 and ceased to be a legal tender on May 31, 1982.

The Second issue followed the establishment of CBK in replacement of the Kuwaiti Currency Board, thus taking over the latter's function of issuing currency notes and coins in addition to much broader tasks. The second issue was put into circulation starting on November 17, 1970 for 1/4, 1/2, and 10 dinar notes and on April 20, 1971 for 1 and 5 dinar notes. The second issue was withdrawn effective February 1, 1982, and ceased to be a legal tender on May 31, 1982.

Following the accession of H. H. Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah, the third issue was put into circulation by CBK on February 20, 1980, in the denominations of KD 10, 5, 1, 1/2 and 1/4. On February 9, 1986, a 20 dinar note was put into circulation. Due to the exceptional circumstances ensuing from the Iraqi invasion of Kuwait in 1990, this third issue was withdrawn from circulation effective March 24, 1991, and ceased to be a legal tender after 45 days from that date. The right of exchanging these notes at the CBK expired on Saturday, September 30, 1991. Soon after liberation, the fourth issue was put into circulation on March 24, 1991, so as to allow for a speedy exchange of the withdrawn third issue and to ensure the country's swift economic recovery.

The fourth issue was withdrawn from circulation on August 17, 1994 and ceased to be a legal tender effective February 16, 1995. These notes can still be exchanged at CBK until Monday, August 16, 2004.Soon after liberation, the fourth issue was put into circulation on March 24, 1991, so as to allow for a speedy exchange of the withdrawn third issue and to ensure the country's swift economic recovery. The fourth issue was withdrawn from circulation on August 17, 1994 and ceased to be a legal tender effective February 16, 1995. These notes can still be exchanged at CBK until Monday, August 16, 2004. The Fifth Issue of the Kuwaiti Currency was placed into circulation effective Sunday, April 3, 1994. It is the current circulating currency of the State of Kuwait and utilizes high-level technology utilizing technical features and security developments realized by the Bank Note printing industry."

http://ezforex.wetpaint.com/page/Kuwait+-+Dinar

Who know really what time frame we may have, and considering the differences in infrastructure, transparency, and demographic differences in Iraq, we should be ready for scenario. JMO

  • Upvote 1
Link to comment
Share on other sites
SAG Newbie

SAG

Posted
Posted

Thanks for all the support everyone. I didn't mean to cause an uproar, just wanted to share a little bit of positive thinking and common sense!

If it comes out at $2 and then drops to .50 before you can get home, to your safety box, and then back to the bank... I'll laugh my head off at this ridiculous post. :lmao:

I've seen stocks drop quicker than that... so yes, I think it could happen that way.

To each their own, though! :twothumbs:

Quote - If it comes out at $2 and then drops to .50 before you can get home, to your safety box, and then back to the bank.

What would Iraq's reasoning be behind this type of action?

  • Upvote 1
Link to comment
Share on other sites
DaveH Newbie

DaveH

Posted
Posted

Actually i can tell you that information...

Cannot tell you too much about the large bills sorry

In 1922 they changed from large bills to small ones.......

they made red notes, brown notes, silver certificates, green notes, $1 funny backs, Hawaii had the brown note changed to green back(if anybody has real brown notes that say Hawaii on the back I am interested)

The USA had a $10,000, $5,000, $1000, $500 note. All were taken out of circulation. The $10,000 and the $5,000 were used for bank to bank transfers. The $1,000 and $500 are still commonly traded between collectors and occasionally seen at banks. (note bankers are not allowed to take them because they cannot prove their authenticity)

When the USA came off the gold and silver standard, their silver certificates changed to the green back and some red notes in the late 5os and early 60s mainly on the $2, $5. The $10 and higher went to the green back. The green backs changed design again in 1996 I believe, and every four years there after they have changed for security purposes. Except for the $1 mainly due to the fact that it is not economical to try and counterfeit the $1.

now let me ask you a question...

Which US Paper bill does not have a president on it??

I can answer that for you slappenu, the 10k note has Salmon P Chase on it. Former treasury secretary, and no I did not have to look it up.

  • Upvote 1
Link to comment
Share on other sites
Adam Montana Proficient

Adam Montana

Posted
Posted

Here is a brief history of the Kuwaiti Dinar, I found it interesting that even though there were time limits set by the CBK, the notes were still exchangeable for six months post currency change. :)

.....

Who know really what time frame we may have, and considering the differences in infrastructure, transparency, and demographic differences in Iraq, we should be ready for scenario. JMO

Exactly. The most important part of that post is that you posted FACT that there was a time limit.

Also - Try taking that original currency to the bank and cashing it in. They won't take it any more.

What WAS a cashable currency is no longer, and there was definitely a time limit to cash it in.

Quote - If it comes out at $2 and then drops to .50 before you can get home, to your safety box, and then back to the bank.

What would Iraq's reasoning be behind this type of action?

You're asking the wrong question, assuming Iraq is in 100% control of the value of the value of their money - they aren't!

Why would Chrysler let it's stock drop?

A: They had no choice.

Why would we let the USD drop like it is right now?

A: We have no choice.

Why would Iraq let it's currency drop so low in the first place?

A: They had no choice.

If the Dinar comes out and floats, the value can swing very rapidly. I'm not just spouting opinions, this is fact and I've actually gone to school to learn the things I base my posts on. I'm not here talking about what my cousin's brother's uncle in Iraq said - this is stuff that any economist or finance expert will back me up.

I think a lot of people lash out at me because they don't like what I have to say sometimes... I'm just speaking the truth, friends! Don't shoot the messenger.

:tiphat:

  • Upvote 8
Link to comment
Share on other sites
slappenu Newbie

slappenu

Posted
Posted

I can answer that for you slappenu, the 10k note has Salmon P Chase on it. Former treasury secretary, and no I did not have to look it up.

you know i wasn't even considering the higher out of circulation bills. again nice one. Hey can you talk to Adam and get me unbanned from the chat room please!!!!

Thank you

  • Upvote 6
Link to comment
Share on other sites
bamf1414 Newbie

bamf1414

Posted
Posted

Actually i can tell you that information...

Cannot tell you too much about the large bills sorry

In 1922 they changed from large bills to small ones.......

they made red notes, brown notes, silver certificates, green notes, $1 funny backs, Hawaii had the brown note changed to green back(if anybody has real brown notes that say Hawaii on the back I am interested)

The USA had a $10,000, $5,000, $1000, $500 note. All were taken out of circulation. The $10,000 and the $5,000 were used for bank to bank transfers. The $1,000 and $500 are still commonly traded between collectors and occasionally seen at banks. (note bankers are not allowed to take them because they cannot prove their authenticity)

When the USA came off the gold and silver standard, their silver certificates changed to the green back and some red notes in the late 5os and early 60s mainly on the $2, $5. The $10 and higher went to the green back. The green backs changed design again in 1996 I believe, and every four years there after they have changed for security purposes. Except for the $1 mainly due to the fact that it is not economical to try and counterfeit the $1.

now let me ask you a question...

Which US Paper bill does not have a president on it??

oh oh i know its the hundred, i hope to roll naked in some of them soon, lol

Link to comment
Share on other sites
beachbum Newbie

beachbum

Posted
Posted

Thanks for all the support everyone. I didn't mean to cause an uproar, just wanted to share a little bit of positive thinking and common sense!

If it comes out at $2 and then drops to .50 before you can get home, to your safety box, and then back to the bank... I'll laugh my head off at this ridiculous post. :lmao:

I've seen stocks drop quicker than that... so yes, I think it could happen that way.

To each their own, though! :twothumbs:

Thank you for the insight. Me and my buddies here in Baghdad would like to ask you a question. DO you plan to tell these fine people on your site your real name?

  • Downvote 1
Link to comment
Share on other sites
SAG Newbie

SAG

Posted
Posted

Exactly. The most important part of that post is that you posted FACT that there was a time limit.

Also - Try taking that original currency to the bank and cashing it in. They won't take it any more.

What WAS a cashable currency is no longer, and there was definitely a time limit to cash it in.

You're asking the wrong question, assuming Iraq is in 100% control of the value of the value of their money - they aren't!

Why would Chrysler let it's stock drop?

A: They had no choice.

Why would we let the USD drop like it is right now?

A: We have no choice.

Why would Iraq let it's currency drop so low in the first place?

A: They had no choice.

If the Dinar comes out and floats, the value can swing very rapidly. I'm not just spouting opinions, this is fact and I've actually gone to school to learn the things I base my posts on. I'm not here talking about what my cousin's brother's uncle in Iraq said - this is stuff that any economist or finance expert will back me up.

I think a lot of people lash out at me because they don't like what I have to say sometimes... I'm just speaking the truth, friends! Don't shoot the messenger.

:tiphat:

Adam you miss undersrand my question. I was not lashing out on you. I was merely asking the question how this could happen. I also don't understand how we can mix stock with currency. They are not the same. Your anger surprises me.

Link to comment
Share on other sites
Adam Montana Proficient

Adam Montana

Posted
Posted

Adam you miss undersrand my question. I was not lashing out on you. I was merely asking the question how this could happen. I also don't understand how we can mix stock with currency. They are not the same. Your anger surprises me.

I'm not angry at all! Not sure where you got that impression.

If you seriously don't understand how people trade currency just like stock, and currency can go up and down just like stock - I'll give you a link.

http://www.investopedia.com/articles/forex/06/SevenFXFAQs.asp

That should help :twothumbs:

  • Upvote 5
Link to comment
Share on other sites
jmw Newbie

jmw

Posted
Posted

Before you freak out and start carrying all of you dinar around with you…think about this. The only reason to have a limited time to exchange is if you are changing currency…Remember Presidential Order 13303?

http://www.freerepublic.com/focus/f-news/1103360/posts

it gives us the same rights as the Iraqi citizens…therefore they would have to be exchanging as well which would be a redenomination.

Now…Adam mentions that several country’s have done this when they revalued…there is no fact to this at all PERIOD

He says Kuwait did it several times…here is the history of the Kuwaiti Dinar and a link to back it up…the only time they have ever limited the exchange period is when Suddam invaded the country and that was to keep him from profiting from it…

Countries have redenominated they have not revalued….please prove me wrong on this.

HISTORY

Till date, 5 series of dinar banknotes have been issued. The Kuwaiti Currency Board made the first issue of the currency banknotes on 1st April 1961 and that series was used till February 1982. The second issue of the currency was made by the Central Bank of Kuwait instead of the Kuwaiti Currency Board with new dinar notes of the denominations ¼, ½, 1, 5 and 10 KD in the years 1970 and 1971. The second series of the notes was also withdrawn from circulation in the February 1982. The third issue, which was put into circulation in February 1980, introduced the 20 dinar note for the first time in 1986 in Kuwait. This series was declared invalid w.e.f September 1991 due the emergency situation caused by the invasion by Iraq. For the motive to cover up for the damages done by the invasion and speeding up the lagging behind economy, the fourth series of currency notes was issued soon after the liberation of the state of Kuwait. The withdrawal of the 4th series in august 1994 made way for the launch of the 5th issue that is still in use.

http://www.crnindia.com/currency/dinar.html

There will not be a limited time to exchange…the only reason to exchange is a redenomination and they can’t limit their people to exchange.

  • Upvote 2
  • Downvote 3
Link to comment
Share on other sites
Adam Montana Proficient

Adam Montana

Posted
Posted

1. Presidential order 13303 gives us the right to invest in Iraq, it doesn't guarantee that any currency we hold will always be valuable.

2. Kuwait did issue new currency and they did have a period to cash in the old currency - your post proves you wrong, jmw.

I quote:

The withdrawal of the 4th series in august 1994 made way for the launch of the 5th issue that is still in use.

Read more:

As recently as 1994 Kuwait did away with an old currency.

3. There is a chance that Iraq can re denominate either before or after they rv or don't rv.

Again, everything I said is common sense and someone comes out of the woodwork to say "Adam is wrong! Adam is wrong!"

Well, I'm not wrong (on this one, at least!)... but why all the hate? If you're not happy here, there are plenty of other sites out there. There's no reason to be rude.

:tiphat:

  • Upvote 9
Link to comment
Share on other sites
rain20 Newbie

rain20

Posted
Posted

Okay I still new to this and I just want to make sure I understand. My question...is it better to have larger dinar notes or smaller ones. Or will it even matter given the timeframe we may have and that they are trying to do away with the current dinar anyway?

Link to comment
Share on other sites
Inicio Newbie

Inicio

Posted
Posted

AM: "Well, I'm not wrong (on this one, at least!)... but why all the hate? If you're not happy here, there are plenty of other sites out there. There's no reason to be rude."

Adam: there have been a lot of antagonisitc, unreasonably so, posts on all forums on DV of late. It has to be that this ride has been more than a little bumpy, to say the least, with all of the dates and rates and the 8 month frustration with the forming, or lack thereof, and ongoing delays associated with the forming of the GOI. Money issues at this time of the year take their toll on people with the added Holiday spending pressure. Here's hoping that the 15th will alleviate financial stress and get everyone in the DV family healthy financially and back to the positivity that the forums used to enjoy.

  • Upvote 2
Link to comment
Share on other sites
Guest
This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

    Take This Quiz

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept