Popular Post gbosh Posted April 24, 2011 Popular Post Report Share Posted April 24, 2011 Hello, Acknowledging that this is my first post, and understanding that with all crap flying around, I have not established any credibility with this audience, allow me to offer a few perspectives. First, I am currently working in Iraq as a contractor (aviation related). I have been here in Northern Iraq for the last ~3 months, and this is my second rotation to the country, and this location, in the last 18 months. For security purposes, I'll leave it at that. If that's not good enough, read/believe at your own peril. I won't discuss my wages other than to say the pay is good enough to encourage this 19 yr military vet (active/reserve) to leave his family for months on end. My time is away is arguably less than others in similar situations, and I recognize and appreciate the sacrafice of all the people here, military or civilian/contractor. Second, I am relatively new to the Dinar game. I was introduced to the opportunity in Feb of this year by a coworker here, so I am hardly a 'Vet.' I do own Dinar and have purchased them as recently as yesterday. I will be returning stateside when my tour ends next month, and can only hope I have an additional buying opportunity after the first of the month (more on that in a minute), before ReVal. I am not in a position to broker or otherwise purchase for others, so if you were inclined to ask, don't bother. That having been said, I am a fan, and hoping for the best financial outcome while still acknowledging the possibility that my investment may offer, at best, a very nominal return How a contractor in Iraq can purchase Dinar (INFO): Army finance will allow individuals (military and civilian) on the base to purchase US$1000 worth of Dinar each month. The purchase is tied to your SSN in an Army computer, and they track/limit the purchases that way. They provide a receipt showing pertinent info about the purchase, as well as a separate sheet of paper that lists the denomination and quantity 'purchased.' This is a great aspect of the transaction as it lends validity to your acquisition of the Dinar, so that post ReVal the legitimacy of the Dinar you own is less likely to be questioned. Finance will allow you to purchase Dinar using US$ cash or using an Eagle Cash card (essentially a reloadable debit card tied to your checking account). The exchange rate of these transactions is IQD1170 to the US$, and it has been that rate for many months (note sure how far back that rate goes, but it goes farther back than I've been in country this rotation). On the removal of higher denomination bills from circulation (INFO): On a regular basis (daily/weekly), I have an opportunity to interact with Iraqi merchants who have been allowed to up shops on base for the benefit of soldiers/personnel here. These merchants live off base and are otherwise involved in their communities as you or I would be during our non-work hours. After hearing an individual (Breitling, on a recorded conference call posted on a different site) recently assert that the higher denomination notes (5k, 10, 25k) are no longer in circulation in country (i.e. removed intentionally), I spoke directly with one of these merchants to determine if that statement was true. The answer was flatly, 'No' When the real purchasing power of a 25k note is $20-$25, the number of smaller bills (500 and less) required to reach enough for a transaction of ANY significance is enough to make the prospect of carrying ONLY those smaller bills unreasonable. This merchant's explanation of such and statement that the higher denomination notes are very much in play in Iraq. (He promptly asked me if I wanted him to get some for me, for a small profit of course) I don't have the ability to leave the base and verify the existence of the bigger bills myself, but I have no reason to believe he would have anything to gain by being dishonest. He has been another source for me to purchase Dinar in smaller quantities, and I have received large denomination notes from him. In addition to the merchants, I am in daily contact with Iraqis through my work, and some of them have additional On the prospect of Revaluation: First, Army finance has no information (as of yesterday) that they are willing to share about any revaluation. I don't necessarily think they'd be the first to know, but the fact that I could walk in and still purchase Dinar yesterday makes me think the recent brouhaha about 5/3rd bank and their decision to stop selling Dinar may really be just as simple as their official explanation of not being able to keep up with the demand for what was originally just a simple service for their traveling customers. Sometimes the simplest answer is the real answer. When Army finance either changes their exchange rate or refuses to exchange Dinar for dollars, I'll put more credence in similar bank decisions. In addition to the merchants above, I am in daily contact with Iraqis of a different walk through my work. One in particular is a particularly astute businessman. I asked his opinion of the ReVal (when I was looking at acquiring more smaller bills). He was under the impression that the removal of three zeros from the existing currency (LOP) was the ReVal to expect. I can't say with any certainty how sure he was of this info. At the risk of generalizing, many Iraqis I've me will generally tell you what they think you want to hear just as readily as they'll tell you the truth. I don't necessarily place this man in that category, but I take everything I hear with a grain of salt. Getting Dinar out of Iraq: The post office (contractor run for the USPS), flatly refuses to ship currency, and if they know you are attempting ship Dinar, they will tell you no with no reservation. Special services like Registered Mail are not available. FedEx, operated by a local affiliate, also refuses to ship currency. To my knowledge, the only way to take the Dinar home with me is to physically carry it with me when I leave. I would be interested in hearing from anyone who as traveled with more than just a token amount of Iraqi currency and how they handled it with airport security and general security as they traveled home. If you have a different solution that is both legal and feasible, I would be very interested in that as well. If you've got any questions, shoot. I'm glad to have found the forums of DinarVets as an alternative to the neverending hype machine of sites/dealers/individuals found elsewhere. Somewhere in the middle is the answer. Thanks for listening! Happy Easter, have a great week! gbosh 41 1 Link to comment Share on other sites More sharing options...
jlldrs Posted April 24, 2011 Report Share Posted April 24, 2011 No better info. than from boots on the ground. Thanks for the post. Stay safe and Happy Easter! 3 1 Link to comment Share on other sites More sharing options...
john.sherry1 Posted April 24, 2011 Report Share Posted April 24, 2011 i will tell you how i got my dinar home i was deployed to iraq from feb 09 to feb 10 i bought my dinar from the finance office and the rate was 1170 so it has not changed. when we re-deployed and went through all the customs there were signs everywhere saying that you can not travel with money over 10,000 usd my dinar was not equal to 10,000 usd so the customs people looked at it and it went right back into my back pack. i took it on the plane and it was always with me no issues what so ever! i would also like to put my input in on the dinar I would love to see the dinar RV and i believe it will one day but if it does not i look at it like this, i never bought more than i could afford, it never put me into finacial hardship, and if it never happens atleast when my daughter gets old enough she will have something to take to school with her for show and tell something her daddy brought home for her when he was in iraq. the point is i already spent the money i would have blew that in vegas anyways so if it happens it happens if it dont it dont i dont stress about it 14 Link to comment Share on other sites More sharing options...
1967 Posted April 24, 2011 Report Share Posted April 24, 2011 Thanks for the post. May you have a blessed Easter. Please come back to site and keep us posted anytime you do hear any RV info!!! Thanks, 1967 Link to comment Share on other sites More sharing options...
TimS Posted April 24, 2011 Report Share Posted April 24, 2011 Very reasonable post...no outlandish claims or super secret intel. By gosh, I like it and I tend to agree with your assessment of the large denoms and banking issues. Keep the info coming....thanks 3 Link to comment Share on other sites More sharing options...
lancer22 Posted April 24, 2011 Report Share Posted April 24, 2011 Thx for the post gbosh and welcome to DV. Enjoy the ride!!! Thx for your service. Happy Easter!!! Link to comment Share on other sites More sharing options...
firefighter_218546 Posted April 24, 2011 Report Share Posted April 24, 2011 Great post,, I am in Iraq too, I started this venture back in 2005 and have been to many bases.. Back in 2005 it was illegal to mail than, but I was able to sneek it out in the mail. One way is when you go to the post office have your box already taped on the bottom and on the bottom flap between the flapps tape your dinar, or you can also stick it in a lot of paperwork, I worked at the post office over here for 6 months and went back to the Firedept. When I worked at the postoffice we were not able to mail any dinar out and the rule still applies. However you can mail it out in cards if you want to mail a few bills at a time just make sure that envelope doesn't weigh too much and that there isn't somekind of bulge sticking out. ( Just make sure it's the free mail or throw a stamp on it and drop it off in the drop box ) ( ( don't forget all free mail needs a return address on it..with the correct APO )). But you can always take your dinar out with you thru the airport. Just remember to keep it in your wallet and your check book. I know of some people who have taken it out a million at a time. Just try to keep it on your person like in the wallet, if they catch you all they will do is take it from you. Maybe.... I know of somebody who snuck it thru in his carry on luggage, he had a lot of paperwork in there and they never checked it. Good Luck. About getting the larger denominations, the last time I purchased which was a month ago I got 25k, 10k, 5k, 1k, 100, and 50's so yes you can still get the big bills I know of guys who got some big ones a week or two ago... While being new to this site please let me leave you with something, Don't believe anybody here when they say they know the date or the rate,,, NOBODY KNOWS... So don't be suckered in to buying because of what you read on this forum or any forum.. We will know what the date and the rate is when it RV's and no time sooner.. Oh ya something I want to leave you with Keep your head down Go Rv God Bless America 7 Link to comment Share on other sites More sharing options...
thunderrb Posted April 24, 2011 Report Share Posted April 24, 2011 Very glad to hear from someone in Iraq, thanks for the info and providing a better understanding how things are working over there. Please stay safe..... Happy Easter 1 Link to comment Share on other sites More sharing options...
MrRich Posted April 24, 2011 Report Share Posted April 24, 2011 Thanks for the post. I will never understand why people make claims on dinar forums that are so easily debunked as the claim of no higher denoms is. I believe that they are being removed, but it is a long, tedious process and they may still have a ways to go. 2 Link to comment Share on other sites More sharing options...
JuryPicker Posted April 24, 2011 Report Share Posted April 24, 2011 Thanks for the post. Like rich said, I think they're reducing the larger notes in circulation. They'll never be able to get em all. It would be like our treasury trying to retrieve all the 100 US notes. Impossible. 4 Link to comment Share on other sites More sharing options...
chilli24 Posted April 24, 2011 Report Share Posted April 24, 2011 Thank you for this information, always good to get "in country info." 1 Link to comment Share on other sites More sharing options...
DEAMAN Posted April 24, 2011 Report Share Posted April 24, 2011 Excellant Post, thank you very much for sharing your information to the rest of us. You hear all the time that the CBI is pulling the big bills, but I think its more like the pumpers are pulling peoples legs...It makes a lot of sense that if you are merchant over there, you cannot waste your time using 500 dinar notes. Thanks again! 2 Link to comment Share on other sites More sharing options...
cautiouslyhopeful Posted April 24, 2011 Report Share Posted April 24, 2011 Thank you Gbosh, for sharing your articulate, intelligent first hand perspective of Iraq and the IQD. Your input, even as a "Newbie" is very credible with me. Thanks again and stay safe!!! C.H. 2 Link to comment Share on other sites More sharing options...
TPSprayduster Posted April 24, 2011 Report Share Posted April 24, 2011 great post, thank you a post with straight to the point with no BS. 1 Link to comment Share on other sites More sharing options...
quadraph0nic Posted April 24, 2011 Report Share Posted April 24, 2011 Gbosh, First thank you for what you do and I know what your saying is 100% correct. There have been times where I asked an LN about the dinar but more times than not , RV isn't what's coming out of their mouth. Now, that doesn't mean that it won't but in the past there has been a lot of info floating around the net from "boots on the ground" that....well I'll put it this way, I find highly questionable. Earlier this year, I went into a bank on base and they were happy to unload their 50s on me when I was exchanging a few dollars. I can get whatever denom is in circ and if I wanted to I bet I could find someone who could get me coins too. Here its not a big deal...online it's friggin ridiculous...If it wasn't for the APO and my company I could make a business out of this! I never bother mil finance, because I'm civ so I like to just be transparent as possible. I'm there to support but I don't want to hinder anyone. That's just me and where I'm at we have banks. But I agree with what you say and it's always good to see a young man with his head on straight doing the best he can for his country. Its people like you that will keep our country strong. You have my ultimate respect! Make it home safely 2 Link to comment Share on other sites More sharing options...
gbosh Posted April 24, 2011 Author Report Share Posted April 24, 2011 ... it's always good to see a young man with his head on straight doing the best he can for his country. It Thank you for your words, but I have been called a young man in years. The last time was probably when I was a Capt in the Air Force, and that was nearly a decade ago! Nope, I'm just a 'slimy contractor,' working as part of the total force effort to put this country back on it's feet and on a clear path toward a prosperous future! gbosh 2 Link to comment Share on other sites More sharing options...
drox Posted April 24, 2011 Report Share Posted April 24, 2011 Outstanding and informative post! Welcome to DV. There are some great people on this site. The mods and Adam are so gracious in allowing conflicting opinions and great debate even when it differs from their own. It allows us all to learn and peel this onion. I don't even look at any other sites. The people here are the best in my opinion. Be safe and well. 3 Link to comment Share on other sites More sharing options...
FOUNDIT Posted April 24, 2011 Report Share Posted April 24, 2011 Hey gents.....when you go to the bank on or off base just ask them if the higher denoms are dropping in number.Also tell the on base Iraqi store owners to get you some lower denoms and you will pay handsomely.You will be amazed at the answers you get.And remember the large denoms will start to flow back with the RV. They are just taking CURRENCY OUT OF CIRCULATION until the RV happens.While no one may know the rate and date on these boards,it is obvious that the current theater of operations in IRAQ will come to the only conclusion that will heal all wounds--------RV. 3 Link to comment Share on other sites More sharing options...
umbertino Posted April 24, 2011 Report Share Posted April 24, 2011 Gbosh... Thanks. Appreciated. Link to comment Share on other sites More sharing options...
iraqwarprofiteer Posted April 24, 2011 Report Share Posted April 24, 2011 GBOSH, Thanks for sharing your current "in theatre" info. Please keep it coming. When your exiting through BIAP, just be sure to keep the cash on your person. (Wallet, pockets, socks...) They scan your check baggage downstairs upon arrival of your charter, as well as your carry on bags when you walk into the baggage claim area. Never been padded down since 06. Now, when you fly out of BIAP, to Dubai, or wherever... you may get padded down, but as long as it doesnt bulge too bad in your pockets, or elsewhere, they wont say anything. I have personally carried out every last dinar home in my wallet, or pockets. I never carried more than a million at a time, in fear of losing it. I did have a coworker who had a few million on him, rolled up with a rubber band in his laptop bag. They spotted it in the xray machine and pulled him aside. He was told to exchange it prior to departure. Before exhanging it, another customs supervisor stepped in, and asked why he had the dinar. He said it was an investment, but he would exchange it to avoid any conflict with Iraqi customs. The supervisor said it wasnt a problem since it was less than 10,000 USD value. Either way, I would not announce that I was carrying it. Ive been home since August, and really do miss the interaction with the locals. They dont always seem to have too much intel. However, you can guarantee that when something big does happen...... they should be your best source. I always bought my dinar from the local contractors that I trusted. They never understood why I would want their money instead of USD. I would guage the RV factor by offering to buy a small amount from them at random. they day they become hesitant to sell it to you, is the day you know something is happening. Keep the real intel coming! from the average Joe local contractor..... the one who pumps the gas, or cleans the porto-johns. Not the iraqi "business man" who will lie to you to make a little cash. Also.... How was the prime rib today? I miss DFAC on holidays. Link to comment Share on other sites More sharing options...
gbosh Posted April 24, 2011 Author Report Share Posted April 24, 2011 Hey gents.....when you go to the bank on or off base just ask them if the higher denoms are dropping in number. Also tell the on base Iraqi store owners to get you some lower denoms and you will pay handsomely.You will be amazed at the answers you get.And remember the large denoms will start to flow back with the RV. They are just taking CURRENCY OUT OF CIRCULATION until the RV happens.While no one may know the rate and date on these boards,it is obvious that the current theater of operations in IRAQ will come to the only conclusion that will heal all wounds--------RV. I don't have access to any banks (not allowed off base, none on base). The Iraqi merchants are glad to exchange Dinar (any denom) for $$ at this point. The favored exchange rate is usually 1000 per US$, but you can get them for less buying in qty. Either way they are going to get a small cut. Finance currently has plenty of all (paper) denominations and will provide them as either an exchange for US$ or just to 'color up' larger denoms. The young troops in the cashier's cage don't really revel in the exchange/purchase of Iraqi dinar, but will generally do as asked, even to do something as tedious as to provide the 'newer' bills when making an exchange. YMMV, of course. Go RV! gbosh I have hand carried 17 million in my back pack a few mil at a time with no incident till June 2006 When I was detained at the security in Kuwait international and they took 3 million dinar from me detained me for 6 hours and fined me 380 KD for smuggling I didn’t get a receipt and signed no paperwork so it is my belief that I just got robbed instead Semper Fi This is what I'm afraid of. Did they Kuwaiti security agents offer any method to transport the IQD without it being a smuggling operation? KD380 is a swift kick in the jimmies! Thanks for the feedback! gbosh 1 1 Link to comment Share on other sites More sharing options...
Native Posted April 24, 2011 Report Share Posted April 24, 2011 A lot of people talk with forked tongs, but you sound credible. Thank you for your honesty and most of all, your service. Link to comment Share on other sites More sharing options...
gbosh Posted April 24, 2011 Author Report Share Posted April 24, 2011 When your exiting through BIAP, just be sure to keep the cash on your person. (Wallet, pockets, socks...) They scan your check baggage downstairs upon arrival of your charter, as well as your carry on bags when you walk into the baggage claim area. Never been padded down since 06. Now, when you fly out of BIAP, to Dubai, or wherever... you may get padded down, but as long as it doesnt bulge too bad in your pockets, or elsewhere, they wont say anything. Good info. Right now it looks like I won't be leaving through BIAP. My biggest concern is the security at KWI and the possibility for theft. gbosh Link to comment Share on other sites More sharing options...
Neversaynever Posted April 24, 2011 Report Share Posted April 24, 2011 This is the best string of posts I've read as for as getting real "intel" I completelly trust. Thanks for the posts and to all those serving our country. 1 Link to comment Share on other sites More sharing options...
MsMonroe Posted April 24, 2011 Report Share Posted April 24, 2011 Thank you for your post. It's nice to see a topic like this in the rumor forum. You seem to have very valid info without pumping or listing dates and rates. Thanks again! Link to comment Share on other sites More sharing options...
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