Why ALI & Dinar Trade is where OUR IQD is headed

[retminded]

Ali has said over and over he will charge the CBI rate plus the $150/mil. I don't think the CBI rate will be what the banks will offer. Ali is confident he will beat the bank rates. Just sayin'!

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Guys this is why if you choose to use EITHER ALI OR BANK or ADAM, get on the CBI website and KNOW THE RATE PRIOR TO CASHING IN WITH ANY PARTY!!

If Ali gives a 'lock in' rate, compare to CBI RV value; likewise with bank rates.

This will be the only 'sure-fire' method to know what it will cost us, in real dollars.

Thank you Ron for posting this thread!!

ret

[Pilgrim]

Ok phoenix I agree with most of that but can you not also say what your first car cost and then compare it to your most recent one, do you know why the difference? Could it be partly because the US banking system hand in hand with the federal reserve and the industries here in America? This is a complex subject with real eye opening answers if you dig a little. easy credit is an actuarial dollar cost average. An acre of wheat now produces more grain, assembly lines are hundreds of times more efficient, and cattle is bigger and younger than ever in history.......but everything still cost what..........more, not less. Be careful how you warm up to vipers.

[drox]

First off... the banks may be slow to react to the RV if the currency is not internationally recognized. They would have to go straight to the CBI which is what Ali will do. We may not have a choice depending on the rate. However, if the banks do react quickly we should be able to shop our rates for the most competitive spread.

The problem I have with Ali is this... The US economy needs the money to circulate here for all of our benefit. It is the circulation of money that spurs prosperity beyond your views of our current banking system. They are simply the vehicle that facilitates the end means. Our deposit will benefit many through the residual effect. Opening up lending opportunities to ourselves and our friends and neighbors. Ali has mentioned he wants to open up a bank in Iraq. Can any of you guess how much money you have to have to open an account in Iraq? Anyone? Ok...here it is... The minimum capital requirement to establish a bank in Iraq is 100 B IQD, approximately $85 M USD.

So... my guess is his funds will be going to support a bank in Iraq. NOT likely here in the US or your country. So... if I have my choice and the spread is fair, I plan on keeping it circulating here in the US as another way of giving back. Obviously, this is my opinion and variables may exist as to where he will be putting his money.

Edited December 7, 2010 by drox

[onerighthand]

Apologies for my ignorance, but would someone mind explaining a spread so I don't get screwed, blued, and tattooed? :-O

My sincerest "thanks' in advance!

To be really simplistic, think of it like a drug dealer. he buys his drug from the supplier for 800.00 and then he marks it up and sells it to you for 1000.00. It is just a mark up. Another dealer might have a larger mark up. Ya shop around for the best OR lowest mark up(spread) Not so complex. Each succesive dealer pays a different mark up (spread) to the previous dealer.

First off... the banks may be slow to react to the RV if the currency is not internationally recognized. They would have to go straight to the CBI which is what Ali will do. We may not have a choice depending on the rate. However, if the banks do react quickly we should be able to shop our rates for the most competitive spread.

The problem I have with Ali is this... The US economy needs the money to circulate here for all of our benefit. It is the circulation of money that spurs prosperity beyond your views of our current banking system. They are simply the vehicle that facilitates the end means. Our deposit will benefit many through the residual effect. Opening up lending opportunities to ourselves and our friends and neighbors. Ali has mentioned he wants to open up a bank in Iraq. Can any of you guess how much money you have to have to open an account in Iraq? Anyone? Ok...here it is... The minimum capital requirement to establish a bank in Iraq is 100 B IQD, approximately $85 M USD.

So... my guess is his funds will be going to support a bank in Iraq. NOT likely here in the US or your country. So... if I have my choice and the spread is fair, I plan on keeping it circulating here in the US as another way of giving back. Obviously, this is my opinion and variables may exist as to where he will be putting his money.

Very good point. Thanks

[IraqiVet05-07]

"Is it the banks fault people make bad choices?"

In part yes, and they had the most control. You used to get denied when you didn't qualify. Now the banks rearange the information to make it fit and help you qualify,

The home buyers were culpable also and there were many fools.

great post, thanks

Actually it was the Federal Gov't more specifically the congress that had the most control. Senator Dodd and his banking and lending regulations that forced the banks to to loan to people who could not afford the houses or get sued for being racist.... You need to read what the rules were for denying a home mortgage there is a reason it was Freddie Mac and Fannie Mae that took the biggest hits from the meltdown...

Iraqi Vet05-07

[Phoenix]

First off... the banks may be slow to react to the RV if the currency is not internationally recognized. They would have to go straight to the CBI which is what Ali will do. We may not have a choice depending on the rate. However, if the banks do react quickly we should be able to shop our rates for the most competitive spread.

The problem I have with Ali is this... The US economy needs the money to circulate here for all of our benefit. It is the circulation of money that spurs prosperity beyond your views of our current banking system. They are simply the vehicle that facilitates the end means. Our deposit will benefit many through the residual effect. Opening up lending opportunities to ourselves and our friends and neighbors. Ali has mentioned he wants to open up a bank in Iraq. Can any of you guess how much money you have to have to open an account in Iraq? Anyone? Ok...here it is... The minimum capital requirement to establish a bank in Iraq is 100 B IQD, approximately $85 M USD.

So... my guess is his funds will be going to support a bank in Iraq. NOT likely here in the US or your country. So... if I have my choice and the spread is fair, I plan on keeping it circulating here in the US as another way of giving back. Obviously, this is my opinion and variables may exist as to where he will be putting his money.

What he said.

Great post Drox

[deb51]

Correct me if I'm wrong...but right now Dinar Trade you can buy 1mil dinar for 1060 USD and sell then back for 880 USD...don't know what will happen after the RV...but no one seems to be using that as an example.

[onerighthand]

Actually it was the Federal Gov't more specifically the congress that had the most control. Senator Dodd and his banking and lending regulations that forced the banks to to loan to people who could not afford the houses or get sued for being racist.... You need to read what the rules were for denying a home mortgage there is a reason it was Freddie Mac and Fannie Mae that took the biggest hits from the meltdown...

Iraqi Vet05-07

OK touche! I will yeild 75% of your point.

[tyro]

Retminded, the CBI spread is non-negotiable, isn't it? If so, that'll be a cost of cashing in anyway, so how would knowing their spread help in dealing with the banks? Oh, yeah - use it for a comparison to see just what different banks are actually charging for their share. Duh. Thanks! But Ali has said he'll only charge $150 on top of the CBI's spread. And Adam has said he's gotten a good rate with US banks for VIP members. Still a good idea to shop around to check everyone's veracity, I guess.

Phoenix, I appreciate your patriotism and mostly agree, but the banks are hugely culpable in the mortgage mess. They are supposed to understand sustainable lending procedures and they did a huge disservice to many buyers who bought above their means. IMO (based on what many economists have said), most of those buyers are just plain ignorant (not stupid - just naive and uneducated) about handling money. And if the bank told these people could afford it, why shouldn't the (uneducated) potential buyer have believed them? Mortgage brokers and banks had a fiduciary responsibility to those people and should actually have advised many against refinancing to take out cash. Some may say those people (those who lost their homes) deserve what they got because they should be more fiscally aware, but that's a pretty harsh comeuppance.

Drox, my local banks will benefit from my deposit, whether I cash in with them or Ali, won't they? I consider this a business deal and would rather my "charitable giving" be directed to friends who need it and to support veterans. But that's just me.

All this advice is useful and gives us many options to consider and choose from, depending on our point of view. It's been helpful to me, and in the past few months I've changed my perspective several times.

THANKS, everyone.

[ECSxFenrir]

LMAO you really think Ali is only going to charge $150 per million???? He might charge $150, but he will also collect the spread fee....

If I was Ali I may charge $150 per million but I gurantee I would give the best spread. Gaining money off the spread is not Ali's end game. He wants your physical dinar to start a bank back in Iraq. Just like a bank he holds money and makes tons off the investment. He looks at the long term, BoA, Chass etc already are banks so they want to make money off the spread. Ali is trying to get where they are...or be big enough in Iraq that the CBI will absorb his bank much further down the road...

[onerighthand]

Correct me if I'm wrong...but right now Dinar Trade you can buy 1mil dinar for 1060 USD and sell then back for 880 USD...don't know what will happen after the RV...but no one seems to be using that as an example.

The term "Buy and Sell price" in Forex is exactly this.. The buy rate is what he will buy it from you for (889) and the sell price (1060) is the price you buy it from him for.

Most people think it is the other way around. Maybe that is me?

[rjboots1]

Most of you guys are a lot nicer than I am. Banks in this country exist for one reason. To make money. Guess what? That's why I bought dinar.

I'll shop for my best deal on the cash-in, and I'll decide how to spend the extra dollars that I save. And chances are, I'll spend or give them away right here in the good ole' USA.

And I guarantee you I'll do a lot more good than BoA, or Wells Fargo, or JPM, or Citi, or any other publicly held institution, that's going to waste tens of billions of dollars this year paying out bonuses to over-paid hedge fund managers and forex desk traders.

I guess we'll just have to agree to disagree on this one. Follow your own conscience. And God bless you all.

[tampa1000]

OK yes we need banks but remember they need us just as much!!! Don't forget for one second how the banks are so quick to charge you a $30 late fee or over the limit fee even if you are over by .01 cent!!! If you write out five checks and went over the limit the bank will run your large check just to make all the others bounce and hit you with an over the limit fee on all the others, they have many ways of hitting you where it hurts in a nasty way!!!

WHAT I WANT TO KNOW IS WHAT IN THE HELL ARE THEY DOING WITH ALL THE TAX PAYERS MONEY THAT BAILED THEM OUT BY THE BILLIONS??? SOME BOUGHT OTHER BANKS AND INVESTED IN OTHER COUNTRIES AND GIVING THE AMERICAN INDIVIDUAL A SLAP IN THE FACE WHEN YOU NEED LOON!!!

MOST OF THE BAILOUT MONEY HAS BEEN MOVE OFFSHORE AN THE AVERAGE AMERICAN CANT GET A PERSONAL OR BUSINESS LOON EVEN WITH DECENT CREDIT!!! SO WHEN YOU DEFEND THEM YOU'RE DEFENDING A BUNCH OF CROOKS!!! BANKS ARE ONLY NICE TO YOU WHEN THEY ARE SUCKING YOU LIKE A LEACH, THEY ARE OUT TO MAKE MONEY ON YOUR MONEY AND YOU MAKE ONE PENNY OVER THE LIMIT AND YOU ARE SCREWED, JUST STATING A FACT!!!

IF THINGS KEEP GETTING WORSE PEOPLE WITH MONEY WILL MOVE IT INTO GOLD OR SILVER AND THE BANKS WILL FALL AND THEY BROUGHT IT ON THEMSELVES. I HAVE NO PITTY ON THEM!!!

[Oscar2]

At best Ali could give the CBI BUY rate...yes they too will have a spread between buy and sell.

[2dinar1dong]

I would rather help Ali be a Capitalist than help the Banks be a BAND of thugs and Thieves .....Really what person in there right minds would rather the Banks TAKE 100,000's from you and think that it is a good deal REALLY just unbelievable(oh and thank goodness you are not my relative throwing away a Gift) ...YOU people will be the one Broke in a few years...and going to the same Banks asking for more loans to bail you out....Yeaaaa that sounds like a really great thing..to bad you will NEVER have this opp again cause you going to need IT........

[twiztid]

i'm givng mine to Terry K to cash in for me. he seems like an honest level headed person.

[SFlorida]

At time of RV don't forget we now have the leverage on our side and everything is negotiable. Negotiate with banks because they want and need your business. Negotiate the spread and don't be afraid they also need your deposit even without the spread. Banks don't have the leverage we do.... the depositors.

[unclegeek]

why in the world is anyone questionimg Ali? Neither Ali or Adam have to

do this!!! Stop questioning this gift!!!

[Oil4life]

u guy's will be making millions off this investment and your complaining WOW,,,,

[pinkydi]

Yes, it gets me everything someone says that their bank is exchanging their Dinar with "no fee" and argue the point until they are blue in the face!!!!!

"You idiot, they are not charging you any up front fee BUT they make their money on the spread in the end!!!! That IS the fee"

.

This is so ture.

[paj1985]

there is alot of ALI fans here...haha im goin to my bank because i dont trust any1 else......im not stupid i will search for the best rate,but i question how we have to pay a massive spread and ALI doesnt.GO TO THE BANK.

[NFL]

Ali said $150 on any and every amount and that is it, no spread

[Wino]

I spoke to my bank (BB&T). They said a $10.00 charge to exchange foriegn currency no matter what the amount, but they could not give a spread amount until the time of RV. I will shop around but I do feel as some do that the banks will be wheeling and dealing because they want you to deposit the money there. And if you have a good relationship with your bank and have been established with them for a while they will be more likely to deal with you. If I go that route I may take mine to the main bank in NC to make the cash in quicker.

[ECSxFenrir]

there is alot of ALI fans here...haha im goin to my bank because i dont trust any1 else......im not stupid i will search for the best rate,but i question how we have to pay a massive spread and ALI doesnt.GO TO THE BANK.

Ali wants to be the bank...

[ha ha]

I can see Phoenix giving all his money to the Banks and tell others to do so. Or will he not ?. You have a right to follow Phoenix or follow what is good for you and your family.