Information on USDinarBank please

[RotorheadHank]

My brother in law sent me an email from David http://iqd.me/l/11 with US DinarBank stating that only dinar held within Iraq or commercial accounts within Iraq will undergo an RV. Anyone have any intel on US DinarBank and/or David http://iqd.me/l/11? I don't think what he is saying is correct. I don't know anything about this outfit. Thanks in advance for any information. RHH

[chuckray]

from their website :

Dear Sir,

Thank you for contacting the Iraqi Commercial Attache in Washington DC. Reference to your inquire we would like to inform you that as of now it is illegal to sale Iraqi currency outside Iraq. You can visit Iraq central bank website (http://www.cbi.iq/arabic/index.html) to get more details about Monetary policy in Iraq.

NOT BELIEVING ANYTHING THEY SAY

[MiChaplain65]

The "White Paper" and the e-mail from their website is the same.

The are attempting to attract business to Al-Warka Bank and elude to a higher level of confidence to be a part of the RV.

They Do NOT specifically state that Iraqi accounts will be the only ones to RV.

The following statement is from their white paper - it serves to elude to build a false sense of confidence in an RV if you create an account with them

.

It is becoming more and more apparent every day that a commercial bank account in Iraq is necessary as we become closer to the realization of the Finance minister's publicly stated intent to revalue the Iraqi Dinar. Your investment position in the Dinar via a commercial bank account makes the most sense. This is going to be an opportunity not to miss or, worse yet, having allowed the unnecessary exposure to a number of hazards, common only to an investor in possession of Iraqi Dinar Banknotes. We are handling many conversions from individuals who are realizing this, therefore redeeming their banknotes and opening commercial bank accounts in Iraq. You do not have to learn this the hard way. Call us today and let us compete for this portion of your investment business. We will earn your confidence and trust. This truly will be one not to sit out on the sidelines.

Just a well worded sales pitch!

Go RV 2011!!

Grace & Peace

[chuckray]

http://www.cbi.iq/

i don't see anything on the cbi site regarding it being illegal to sell dinars outside of iraq

[richardgorv]

Good sales idea. I have seen alot of crap, and this is up there. Not bashing just saying. Keep posting. I have a friend of a friend of a friend of a friend that said. What a waste of a post. Must have other reasons. Very entertaining.

Go RV

Go USA

[billy6]

What about this??????

CBI law Article 32 Issuing of the currency states

1 The CBI shall have the exclusive right to issue banknotes and coins intended for circulation in IRAQ. Banknotes issued under this

Article shall be a first charge on the assets of the CBI. The CBI shall make appropriate arrangements for the issue of its banknotes

and coins as required for circulation in Iraq. Banknotes and coins issued by the CBI and intended for circulation are not promissory

notes, bills of exchange, or any other type of commerical document under the applicable commercial law, and the CBI is obligated to

honor them only as provided for in this law.

Article 36 Redemption of the currency states:

1. The CBI may decide to redeem banknotes or coins by issuing, free of charge, other banknotes or coins in equivalent amounts. A

decision to redeem banknotes or coins shall be issued in the form of a regulation of the CBI specifying the period during which the

exchange shall take place and the locations and times at which withdrawn banknotes and coins shall be presended for redemption.

2. At the end of the exchange period or any other time specified by the CBI, redeemed banknotes and coins shall be demonetized and

cease to be legel tender.

In other words regardless of currency law in other countries the CBI law is if the dinar is not in Iraq the CBI is not required to

redeem it, nor does the CBI regard it as legal tender to honor.

[MikeRite]

This is very concerning! I have been under the understanding that under presidential order ?????, the purchasing and selling of IQD was legal, not only in the United States, but also in Iraq for legitimate US companies properly licensed to buy and sell the IQD.

Clarification on whether the CBI, can prevent by law any dinar notes by legitimate dealers, from re-entering Iraq has?

[jimmycat]

My brother in law sent me an email from David http://iqd.me/l/11 with US DinarBank stating that only dinar held within Iraq or commercial accounts within Iraq will undergo an RV. Anyone have any intel on US DinarBank and/or David http://iqd.me/l/11? I don't think what he is saying is correct. I don't know anything about this outfit. Thanks in advance for any information. RHH

I have talked to David http://iqd.me/l/11 and he was very rude when i said that i thought he was wrong, he is signing people up a bank account then selling the dinars and makes a good profit on the sale so don't trust what he says, he is using scare tactics

[chriscures]

People like this make the dinar look like a scam. Thanks for the post

Edited March 25, 2011 by chriscures

[wishwell11]

If I recall correctly, there are missing articles that are not included in this post that permits the dinar to be sold outside Iraq to dealers. Seriously...read the email toALI from this person...and look at the level of accountability? Blaming his actions on a post.that makes Dinar Vets look bad . WHO IS THIS PERSON?

Its a good thing the original poster found out about the BBB needing updated and was done without insult. Had they not found it, then it would not have been corrected.

There were 2 threads addressing BBB status and within minutes of the posts, I responded on one of those threads that it was not true. The fact he discounted that disclaimer and now blaming it onthe original DV post and BBB is a pathetic excuse in my opinion. That apology email which was included in Franks chat

....IMHO was more insulting than the original offense in my opinion.

I have worked in customer service for many years....I have in my life-time had many personal customer service experiences and Ali/DT puts to shame what I use to consider excellent service. Sorry for the rant but I bought dinars and recently...did I call banks for better rates...yes...did I find any banks selling....no...did I look at other dealers....yes. This company answered an email inquiry regarding a tracking number within minutes of my email. This stuff about reserve stopping and questioning is crazy. This man has announced his intentions...and instead of shutting it down immediately, the guy allows a window to cushion the change. I'm not a pumper..I don't like paying overhead but thats simply business.I gladly pay Ali for for the security and and supporting documentation I received with my transactions.

I do recognize outstanding customer service when I see it. I'm sure other dealers are just as reputable but I think its obvious why DT was singled out...they're just that good. This updated BBB had 2 complaints? and Resolved ....Do you know how many orders this company processes? OMG.

Wishwell11

[Skip^downsouth]

It seem to me after the RV the dinar like the USD will become a trade-able anywhere.

If the dinar is illegal to sell outside Iraqi how did the millions of dinar get in the US with the blessings of the

US treasury?