Boots on the ground

[sandyf]

True, would be odd for Iraq to cash in a soldier at a rate different than the published rate. Maybe odd is the wrong word. Try ridiculous. But until a returning home soldier can confirm their cash in rate, its not officialy debunked....

I agree. The implication in the rumour was that they were exchanged through a military facility. Who would be the paymaster, Iraq or the US?

[RRSport]

OKIEs boots on the ground....

[gbosh]

True, would be odd for Iraq to cash in a soldier at a rate different than the published rate. Maybe odd is the wrong word. Try ridiculous. But until a returning home soldier can confirm their cash in rate, its not officialy debunked....

Before I returned from Iraq (3 weeks ago), I asked Army finance about 'cashing in.' Not that I would have volunteered any of my dinar, but I was told that they would NOT exchange dinar for US$. Period.

It's a one way transaction to provide soldiers/civilians an opportunity to have local currency for use in-county.

YMMV, but that was my experience.

HTH!

gbosh

[Texas1]

Before I returned from Iraq (3 weeks ago), I asked Army finance about 'cashing in.' Not that I would have volunteered any of my dinar, but I was told that they would NOT exchange dinar for US$. Period.

It's a one way transaction to provide soldiers/civilians an opportunity to have local currency for use in-county.

YMMV, but that was my experience.

HTH!

gbosh

So the alternative would be to go to a bank in Iraq and cash in, if you did not want to bring the dinar home?

Edited June 6, 2011 by Texas1

[gbosh]

So the alternative would be to go to a bank in Iraq and cash in, if you did not want to bring the dinar home?

I was there as a contractor, not allowed off base, so for me that option was out of the question. I still believe the premise of offering dinar to soldiers was for use in country. Generally, one wouldn't need hundreds of dollars worth of dinar kept around to deal with the day to day transactions they might encounter on the economy. It's easy enough, if you are inclined, to get enough for a day or two, then go back to finance as necessary for more. If you were interested in 'collecting' it, it'd be easier to make one purchase each month.

To answer your question, I don't think so. I'm guessing if you REALLY didn't want it, you would be able to 'pawn it off' to one of your buddies in your unit. Additionally, some of the Iraqi merchants on base who can easily use dinar will be happy to buy it back (for a small percentage profit). For someone who wasn't interested in 'collecting' it, I'm guessing they wouldn't go out of their way to make huge purchases on a monthly bases and save it up in their living quarters, only to be 'stuck' with it when they are ready to leave.

gbosh

[xsweeper]

I got my info from the E Trade baby ............s%#$@.......that kid is sssooooo fired !!!!!

[lexecat]

Your not being negative in my opinion......just honest!

Okie the habitual liar is saying yet again the rv is done....military cashing in. Pumper!

Guru Tony added to his lie saying his duaghter saw Maliki and Shabibi on the Al Jazeera & Treasury Dept. contact just called and confirmed cashing out soldiers in Iraq @ 5.20 Great British Pound.. Pumper!

Guru Simon late last night high up IMF contact for the first time said the RV is completed and done. Pumper!

And many more pumpers not mentioned.

Many of these lies from pumpers are "verified"/ "confirmed"

I was joking to a family member earlier, saying I wish we had online marshals. The problem is these gurus have zero accountability for their fraudulent "intel"

I guarantee if these gurus had the law on their tails.......their crap would have ended long ago!

What I do hope is, once the rv happens.......they all wind up in jail!

PERFECTLY FREAKIN STATED!!! I am tired of these guys.

[sandyf]

6-5-2011 Guru zzzzzzzzz I'm a little more skeptical than others after hearing the same things from the same people for weeks...[but] The intel from today is very possible...3 strong sources in Iraq confirm military personnel/contractors are NOT cashing out for millions of cash dollars, they are being given travel type cashiers checks/vouchers for their dinar....

[cdb]

Before I returned from Iraq (3 weeks ago), I asked Army finance about 'cashing in.' Not that I would have volunteered any of my dinar, but I was told that they would NOT exchange dinar for US$. Period.

It's a one way transaction to provide soldiers/civilians an opportunity to have local currency for use in-county.

YMMV, but that was my experience.

HTH!

gbosh

I asked the finance office at the base I'm at about buying back some Dinar. They told me they would only buy back from Military not civilians.

they are being given travel type cashiers checks/vouchers for their dinar....

This actually makes sense.

I can see Soldiers selling their Dinar back to Army finance on their way out of country and since the US has been trying to eliminate the amount of USD in Iraq giving a cashiers check instead of cash sounds reasonable. I'm sure this is only for Military and not civilians and I can guarantee it is not more than the current exchange rate.

[The G-Man]

BanG,

What you are referring to is the Status of Forces Agreement (SOFA), between the USG and the GOI. It basically lays out rules and responsibilities for both countries while we are there 'assisting' them. Article 20 basically says what you said, that soldiers, DOD civilians, and contractors are not (by the SOFA) allowed to export Iraqi currency. My experience (up until last month when I came home) was that the only people enforcing that were the folks at the post office in country, where they would not allow you to send dinar home. How commanders enforce this aspect of the agreement is arguably varied throughout Iraq.

That having been said, Army finance will gladly sell you US$1000 worth of dinar each month. What you do with it after that is up to you, but the express purpose of having it available is for use in country.

One of the big debates I've come across WRT the SOFA is the definition of 'export.' Some feel that if they are not turning around and selling the currency as a business they aren't really exporting it. If they purchase the currency as a collectors item (albeit a LOT of it), and keep it for their own pleasure/use/gain, does it qualify as an exported item?

I just know that despite the SOFA, and Article 20, a TON of IQD that has been obtained by folks subject to the SOFA has made it back to the states.

YMMV.

gbosh

Earlier Version (2008-2009) SOFA Link

Article 20

Currency and foreign exchange

1. The United States Forces shall have the right to use any amount of cash in United

States currency or financial instruments with a designated value in United States currency

exclusively for the purposes of this Agreement. Use of Iraqi currency and special banks

by the United States Forces shall be in accordance with Iraqi laws.

2. The United States Forces may not export Iraqi currency from Iraq, and shall take

measures to ensure that members of the United States Forces, of the civilian component,

and United States contractors and United States contractor employees do not export Iraqi

currency from Iraq.

Oakie said that only troops who were rotating back home were allowed to cash in. That would be in line with Article 20, right?

[gbosh]

I asked the finance office at the base I'm at about buying back some Dinar. They told me they would only buy back from Military not civilians.

That may be true. I'm sure they answered my question about exchanging mine based on the fact that I was a contractor. Good point.

gbosh

Oakie said that only troops who were rotating back home were allowed to cash in. That would be in line with Article 20, right?

Absolutely. Have we had any verification this has actually happened?

[iraqwarprofiteer]

I asked the finance office at the base I'm at about buying back some Dinar. They told me they would only buy back from Military not civilians.

This actually makes sense.

I can see Soldiers selling their Dinar back to Army finance on their way out of country and since the US has been trying to eliminate the amount of USD in Iraq giving a cashiers check instead of cash sounds reasonable. I'm sure this is only for Military and not civilians and I can guarantee it is not more than the current exchange rate.

Sorry to get off topic.... or not. CDB, I gotta know who you are. I was at T-1 until this past August. Assuming we worked for the same "red lanyard", what was your call sign? (2010) I was DOL 12.

Or would you be willing to give out your actual name?

Either way, there is an iraqi that works on site, who is a good contact to have. He and his brother work at the HSE dept. They are both american citizens from atlanta. They went back to IQ to try and make some money with a local contractor. ( decieved ) anyway.... they will validate, or debunk anything you want to know about these rumors. (first desk on the right, when you walk in)

Im sure you already know that typically, most of our Iraqi contractors dont know anything about anything. But, this is your guy!

Sorry to hi-jack the post here, but Im not paying money just to send messages to other members.

[Slappy]

Tears on my Keyboard....

[The Original Spike]

I'll post this under your topic, because it's second-hand and I don't have any extra information. One of my buddies in Tulsa, that works at the American Airlines base, was told from a co-worker that has a brother stationed in Iraq got a call from that brother today. My buddy was told by his friend that the brother had told him when asked about the currency, that there was definitely something going on, but he had no idea what is was. I have been told that the brother in question is a pessimist towards the investment, but does hold a little amount of IDQ for the "just in case senerio". That was all I got, sorry. I asked was there anything else? He had stated that was it, it was all he got. Not worth a whole topic.

[AoK]

Thanks Spike! Intriguing...hmm..."...definitely something going on...", wonder what it could be?

[The Original Spike]

Yes, I think so... He was a bit shaken when he had called me though. One of the Mechanics he had just delivered a part too, 40 min. earlier, had gone out in the parking lot and killed himself in his truck that happened to be next to my buddies. I feel sorrow for that guy that ended his life today, his family and my buddy for having to see all of this. Kinda puts things into perspective a little bit, but yes, sounds like some decent news that makes you go Hmmmm...

[umbertino]

Yes, I think so... He was a bit shaken when he had called me though. One of the Mechanics he had just delivered a part too, 40 min. earlier, had gone out in the parking lot and killed himself in his truck that happened to be next to my buddies. I feel sorrow for that guy that ended his life today, his family and my buddy for having to see all of this. Kinda puts things into perspective a little bit, but yes, sounds like some decent news that makes you go Hmmmm...

I'm sorry to hear that, Man.

[DinarMillionaire]

Thanks all... Once again sorry for the negativity. I hate guys like me on these forums that can't be more positive!!!!!! Damn I am turning into that guy!!!!! Last one... NUFF said..... Damn I can't stop!!!!!

:lol:

Edited June 6, 2011 by DinarMillionaire

[cdb]

Sorry to get off topic.... or not. CDB, I gotta know who you are. I was at T-1 until this past August. Assuming we worked for the same "red lanyard", what was your call sign? (2010) I was DOL 12.

Or would you be willing to give out your actual name?

Either way, there is an iraqi that works on site, who is a good contact to have. He and his brother work at the HSE dept. They are both american citizens from atlanta. They went back to IQ to try and make some money with a local contractor. ( decieved ) anyway.... they will validate, or debunk anything you want to know about these rumors. (first desk on the right, when you walk in)

Im sure you already know that typically, most of our Iraqi contractors dont know anything about anything. But, this is your guy!

Sorry to hi-jack the post here, but Im not paying money just to send messages to other members.

Sorry man we missed each other. I didn't get here until September 2010. I've been in country since '0-6, first up in Tikrit and then in Balad before moving down south. The guys you're talking about aren't here anymore.

I am actually in the HSE Dept (vector) and all of the Iraqi's working for us now are locals and have been changed out 2 or 3 times since I've been here. They can't seem to get along........