My bank confirmation...with a twist....

[Patjza80]

Ok guys, I don't know where to start. I have never posted in the rumor threads, I enjoy reading them and getting excited along with everyone else. I know you guys don't know me from adam, but i promise this is what I was told. I have no reason to lie.

My father is friends with a person at central bank,in Kentucky. My father and I both own dinar in hopes of an RV. So I brought it up to my father, why not contact xxxxx at central bank to see if she has heard anything. I don't wish to say her name out of respect. I told him all the news on here about banks getting some kind of notification. So, he called he two days ago.

While I'm on my way to work, i get a text from my dad. "DO NOT BUY ANY MORE DINAR!!!!!" I'm thinking to myself, HOLY S it has revalued.

So I call him right away. This is what he says:

He said his contact called him back. She said she spoke with the women in the international department. She has in fact recieved a memo regaurding the IQD. No rate no date. She said that there is going to be new currency printed for the IQD. ( i'm thinking to my self, good deal, smaller bills).

Now here is the twist, which I really hope, is wrong.

She claims that when the change occurs, the dinar we hold right now, will only be worth whatever rate we bought it at... She says she has had alot of military soilders calling asking questions, and she said she has gave them the same answer. I just don't see how this could be true. Of course my father starts freakin' out saying he wants to exchange his IQD back for US currency. I told him to calm down, there is no way. He said " get on the forum you get on, and please prove this wrong"

So hear I am, really hoping you guys are going to tell me that she is 100% wrong.

[Kent]

There will be plenty who will say it ain't so, but it sounds like a lop. Even if it were true, your investment would increase in value IMO, but more like double or triple.

[gottarock]

BS............

[Muhammad]

Iraqi government is still full of corruption and incompetent financial controllers; and almost every government employee under PM Maliki from the parliamentarians to the office boys and from the court judges to the sentries and from the traders to the road sweepers in the private sector as well similarly took bribes. They would take advantages of one another and for those who are financially helpless, they are worse off. This is likened to a modern society where dogs eat dogs. We have business friends who came back from Iraq not long ago to tell us such pathetic situation which was an absolute truth and still it is. To me, it may be partially true that they can exploit everyone concerned because most Iraqi financial controllers have such mentality without conceptual intelligence. What they might have in their present cunning attitude is only based on numerical intelligence. IMF and the World Bank would have to decide whether it is appropriate for CBI to obey an incompetent financial advisor to exploit everyone concerned. If the IQD is as bad as no changes right now, the percentages of child prostitution, child labours, Iraqi people living below poverty line and more criminal activities pertaining to the recruitment of insurgency would keep rising without end. Yes! There will be more foreseeable negative repercussions which Iraq may have to surely face if such unprofessionalism occurs in their inconsiderate revaluation plan right now!

[kaperoni]

to explain this as simple as possible...no it will never happen. We (individuals) are not the issue..it is the countries who hold the dinar. They expect and will buy oil with this dinar.

[grandinar]

You need to know where theses people in the Bank get there facts, the news is different from each Bank. Its all more rumors.

[AliBaba]

Blah, blah, blah...or as some say, Blahse, blahse, blahse...I am trying to show my diversity...

[wizard96]

And at what rate of exchange would that be ?? how does anyone know what rate we bought the Dinar at to exchange it back for the new currency ? What rate will all the Iraqi people be able to exchange there dinar savings they have for the new currency? Are you for real it would be a absolute cluster mess !!

If there was a new currency i would suggest IMO the new money would be exchanged at a 1:1 rate so no one looses any money but receives the so called new money to use in place of the Current Dinar that is if there is a new currency anyway and be RV at the rate set by the GOV and the CBI

Ive been wrong a lot lately but it just sounds very wrong they would just DUMP the Dinar

JMO

[ray0880]

Impossible, most places do not give you a receipt for the money, that is true here anyway, I have been buying dinar for 5 years in 6 different countries, NO RECEIPTS given, and all will take it back on what ever rate is the day you want to turn it in. I wish people would stop getting excited and believe they will issue new currency, to much was spent on making this, too many countries hold it, too many people WORLD WIDE hold it, if they (whoever) did a new currency, who is going to pay for it, this does not even pass a common sense test. We (collectively) need to start thinking outside of the box a little, majority of the dinar is not in the states, it is outside, and most countries dont follow same rules and (banks, etc.) as other countries. SO keep that in thought when evaluating the NEWS. ALl exhange agencies abroad would lose money, etc. if something like this happened, and Iraq would recede into a 10 year civil war, THAT IS NOT GOING TO HAPPEN.

[Muhammad]

All the legal food suppliers just outside Iraqi borders who have been exporting to them many basic needs all these years will stay away from them immediately upon hearing such ridiculous news if true - and for more Iraqi poorer people particularly those who are still holding ration cards and never have the chance of stocking up with foods to last for another week, they may soon die of starvation due to lack of buying power and not due to famine for sure. Iraq has too many mouths to feed and don't expect they have super plant foods and super animal foods that can super grow to meet the need of Iraqi population explosion right now. They should know their economic strategies rather well before they might jump to conclusions to make such idiotic decisions. I am nobody and can still think like a great thinker. Why couldn't they be better than me with some common sense?

[bigd1619]

Besides, what does your dad have to lose? If you get the same rate you bought it at then no big deal right? This is so rediculous lol. If you get all of your money back, then you just reinvest it into the new Iraq currency lol!!! Same thing then right? Never gonna happen.

[Muhammad]

All the legal food suppliers just outside Iraqi borders who have been exporting to them many basic needs all these years will stay away from them immediately upon hearing such ridiculous news if true - and for more Iraqi poorer people particularly those who are still holding ration cards and never have the chance of stocking up with foods to last for another week, they may soon die of starvation due to lack of buying power and not due to famine for sure. Iraq has too many mouths to feed and don't expect they have super plant foods and super animal foods that can super grow to meet the need of Iraqi population explosion right now. They should know their economic strategies rather well before they might jump to conclusions to make such idiotic decisions. I am nobody and can still think like a great thinker. Why couldn't they be better than me with some common sense?

I am not boasting I am a great thinker. But just to state as any person with some simple common sense is equivalent to a great thinker. And we have many great thinkers in this blog site as well.

[Muhammad]

All the legal food suppliers just outside Iraqi borders who have been exporting to them many basic needs all these years will stay away from them immediately upon hearing such ridiculous news if true - and for more Iraqi poorer people particularly those who are still holding ration cards and never have the chance of stocking up with foods to last for another week, they may soon die of starvation due to lack of buying power and not due to famine for sure. Iraq has too many mouths to feed and don't expect they have super plant foods and super animal foods that can super grow to meet the need of Iraqi population explosion right now. They should know their economic strategies rather well before they might jump to conclusions to make such idiotic decisions. I am nobody and can still think like a great thinker. Why couldn't they be better than me with some common sense?

In my own quote, I would like to add if Iraq's current rate is still stagnant for another year, many prices of goods and services all over the world would gradually increase to cause Iraqi importers to cough out more money to meet inflationary pressures in the near future, perhaps. Iraq needs to create a tradeable currency to be recognized as one in the World Forex and an RV must be done first but there is a catch-22 needs to be solved in due course to be sure nothing backfire global economy in return. Foreign exporters won't want to lower their prices of goods and services to Iraqi IQD still rated too low when inflation happens.

[The Watcher]

I have an idea! Let's print a new currency in the USA and just tell all of the countries in the world that the dollars they hold with George Washingtons' picture on it is now worthless. That would make a lot of sense, the US could wipe out $14T of debt and start over. Do you know what would happen? The world makets would collapse in a nino-second and the US would be non-existent. Iraq cannot just print a new currency because the latest edition they now have is spread too thin. I will hold my dinar and wait for an RV. Iraq changing to a new currency will not happen. They may eventually go to a common Gulf currency but that is way down the road.

[vestor]

Anybody else recognize mkerr's writing here? He has told a very similar story before under one of his other names.

[pauls_023]

What might have happened is either your fathers source is confused or your father is confused and misunderstood her. They will(have) print new lower denominations of the current IQD but not a whole new currency all together. Just a thought.

[gwright]

Sounds like a child wrote that post...no common sense looking for attention..imo

[Muhammad]

Ok guys, I don't know where to start. I have never posted in the rumor threads, I enjoy reading them and getting excited along with everyone else. I know you guys don't know me from adam, but i promise this is what I was told. I have no reason to lie.

My father is friends with a person at central bank,in Kentucky. My father and I both own dinar in hopes of an RV. So I brought it up to my father, why not contact xxxxx at central bank to see if she has heard anything. I don't wish to say her name out of respect. I told him all the news on here about banks getting some kind of notification. So, he called he two days ago.

While I'm on my way to work, i get a text from my dad. "DO NOT BUY ANY MORE DINAR!!!!!" I'm thinking to myself, HOLY S it has revalued.

So I call him right away. This is what he says:

He said his contact called him back. She said she spoke with the women in the international department. She has in fact recieved a memo regaurding the IQD. No rate no date. She said that there is going to be new currency printed for the IQD. ( i'm thinking to my self, good deal, smaller bills).

Now here is the twist, which I really hope, is wrong.

She claims that when the change occurs, the dinar we hold right now, will only be worth whatever rate we bought it at... She says she has had alot of military soilders calling asking questions, and she said she has gave them the same answer. I just don't see how this could be true. Of course my father starts freakin' out saying he wants to exchange his IQD back for US currency. I told him to calm down, there is no way. He said " get on the forum you get on, and please prove this wrong"

So hear I am, really hoping you guys are going to tell me that she is 100% wrong.

Are you making up a story so that you won't be bashed? Rest assured that we won't bash you if it is just a question. We dinar holders pay USD to buy IQD, right? Do you know what Iraq has to pay to De La Rue money printer to print IQD? Some said oil and some said gold bullion. Where would De La Rue keep the oil as payment in their warehouse? I won't know. But gold bullion as payment does make some sense. Whatever the payment may be, Iraq must have paid a hefty sum of money in the form of a valuable asset to pay off De La Rue money printers. It shouldn't be USD as De La Rue can print any foreign currencies as they like, right? Moreover, Iraq does not posess tons of USD as this currency doesn't belong to them at all. I don't think De La Rue is interested in USD as their payment to print IQD. However, it is rather extremely expensive to cough out more valuable assets to reprint a newer currency just to exploit others.

[sly]

just think of the US. do you think the US will let them do something like that. The US owns something like 5 trillion dinar, they won't let them do that.The US is expecting that money to pay for the war and pay off the debt to China and to purchase oil with the dinar. this is all IMO.

[Muhammad]

I have an idea! Let's print a new currency in the USA and just tell all of the countries in the world that the dollars they hold with George Washingtons' picture on it is now worthless. That would make a lot of sense, the US could wipe out $14T of debt and start over. Do you know what would happen? The world makets would collapse in a nino-second and the US would be non-existent. Iraq cannot just print a new currency because the latest edition they now have is spread too thin. I will hold my dinar and wait for an RV. Iraq changing to a new currency will not happen. They may eventually go to a common Gulf currency but that is way down the road.

You a great thinker indeed! This is the fact based on conceptual and numerical intelligence, altogether!

[cantwait500]

lets all remember the other countries that have dinar sitting on pallets in their reserves..they too r waiting for an rv...iraq in lamens terms kinda owes these countries this rv, however they decide to announce it is really the question...imo we r going to make money maybe not millions but we will make money......

[SBX]

They wont be printing new notes IMO...or I should say not a new currency...maybe new lower denom notes. They currently have one of the most expensive currencies to print...and have ALOT printed.

However IF...IF they did print new money then they would more than likely exchange for smaller bills however you would need to be in country or atleast in maybe Dubai to do this. This situation is where having some money in Warka...ISX would be beneficial...but thats another topic.

Now onto the email the bank had...weird...cause about 2 weeks ago someone told me that they were worried about something...and would get back to me later in the day.

SO later in the day comes and I get the explanation...seems this person has a bank contact or something of the sort...and received an email stating that a new currency would be made....well the problem was diverted when the email was read right and realized it said a new currency rate....

Now whats that mean...maybe nothing...maybe these are both rumors...but I thought it odd that the same thing about new curency was mentioned to me by 2 different people....that neither are infogurus.

[mrref]

I've heard and seen on several different Iraq sites that this is true, but I don't believe it, although it is possible.

[Soldier]

This ought to pissss alot of you people in here off. Falls right in line w/ the WF VP "scam" words. But hey Im open to both sides of the story. How about you. To me a scam is where you invest in the Iraq dinar and HOPE to make a profit. Not to hold on to it for 6 years and get your money back. Which is exactly what this guy and the WF VP might be referring to. But I'm sure the idiots out there will be saying "sell your dinar" like dumba^^es. No thanks dumba^^ses i'll wait to I know for sure than I will sell it back for what I paid for it. As least I will still have a job when this ride is over with. And I will continue to help people w/ the money me and my wife make from working. Not praying over a long shot investment.

[JollyRancher]

Sounds to me like M trying to strip us of our dinars by enticing us to trade in before the RV/RI. I personally am going to hold on to the end of this wild ride. In the unlikely worse-case scenario, I should get my original investment back with a little interest. Better than the stock market where I lost 30+ percent due to the bastodians running Wall Street and Congress!!