Chat w/ Fi3ry_Ph03n1x, 10FEB2010 0726 PST: IQD circulated on US Military Bases

[Fi3ry_Ph03n1x]

[steveCo] is it true that all the service employees are now only paid in Dinar?

[Fi3ry_Ph03n1x] No.

[Fi3ry_Ph03n1x] Here is the real deal.

[Fi3ry_Ph03n1x] I just got an e-mail on this earlier... just a few hours old.

[Fi3ry_Ph03n1x] Servicemembers have an "Eagle Cash Card". This is just like a debit card on military bases.

[Fi3ry_Ph03n1x] They can load it up with cash from their bank accounts back home and make purchases at AAFES and other locations.

[Fi3ry_Ph03n1x] This has been around for awhile.

[steveCo] we're talking the Iraqi nationals, right?

[Fi3ry_Ph03n1x] Just today, we found out that they will also be able to hold IQD on their cards.

[gwright] gm everyone

[steveCo] gm

[Fi3ry_Ph03n1x] They are still paid in USD and that is transferred to their bank accounts. But they can load up their Eagle Cash card with USD and then transfer it into IQD.

[fabby521] gm

[Fi3ry_Ph03n1x] It makes it easier for them to transfer IQD electronically and legitimizes and helps circulate the IQD.

[waverunn1] gm....any good news to wake up too?

[Fi3ry_Ph03n1x] But they are not paid in IQD here. It is just easily available to purchase now.

[gwright] just entered myself wave

[steveCo] so they can use the cash card at banks, atm's, or swipe it like a debit card for merchandise purchases?

[Fi3ry_Ph03n1x] No... this is the US Military. Military finance office.

[steveCo] ok

[Fi3ry_Ph03n1x] Contractors too. This is why I got the e-mail.

[waverunn1] Rats...hoping to not to have to go to work..* *

[gwright] same here wave* *

[steveCo] waverunn1* *

[Fi3ry_Ph03n1x] Anyone with a CAC card can go to finance and get hard currency up to $1,000 per month from the military finance office too.

[RAB42] waverunn1 GM I just looked in here real quick hoping for the same

[steveCo] but only up to $1k... ok

[Fi3ry_Ph03n1x] Yeah, similar to debit/credit purchases but only in places where they accept the Eagle Cash card.

[steveCo] and that hard currency can either be US$ or IQD?

[Fi3ry_Ph03n1x] (On military bases at some locations.)

[Fi3ry_Ph03n1x] Yes... you can get USD or IQD from the finance office.

[waverunn1] Fi3ry_Ph03n1x are u in theater?

[Fi3ry_Ph03n1x] In fact, think you are only allowed to get $300 USD, and up to $1,000 IQD in a month's time.

[Fi3ry_Ph03n1x] So they are def. trying to legitimize it.

[Fi3ry_Ph03n1x] waverunn1 Nod

[waverunn1] Fi3ry_Ph03n1x where at?

[steveCo] interesting. are you seeing any of the lower denoms?

[Fi3ry_Ph03n1x] Yeah, just this morning my coworker went to finance and got $480,000 IQD. I didn't look at his bills, but he said he had about 100 that he had to get back to the states.

[Fi3ry_Ph03n1x] He's gonna stuff them in greeting cards and mail them home* *

[Fi3ry_Ph03n1x] waverunn1: I could tell you but I'd have to kill you.

[Fi3ry_Ph03n1x] :0

[Fi3ry_Ph03n1x]

I wouldn't really have to kill him. Just a nice way of saying, "I shouldn't talk about it in public."

[Lady Liberty]

Thanks for the info!

[JOHNJOHNNY]

gettin very close very close

[Iraqbuck]

That is true...Being here in Iraq on base myself, I can confirm that we do purchase Dinar from Finance here from our Eagle Cards..

[indymom]

This looks like an interesting step to have the IQD on cash cards!

[Duce]

I've been in Iraq since 2004 and I have never heard of putting IQD on an Eagle Cash Card, only USD from the owner's bank account. Maybe things have chaged very recently. I do know that we can only get a $200/month advance from our finance, and the military finance is and has been selling IQD for a while. No, we do not use IQD on base, it is for the soldiers that travel between bases, not for EXPATS. Don't let anyone try and BS you into believing something different.

[Chief V]

I can confirm Fiery Phoenix's statement, I received an email from a reputable source today which is where he got the information from as I sent it to him. Some bases vary in what is allowed to be loaded onto the ECC for withdrawal (usually $350 per day) but it is possible to purchase $1000 USD worth a month, with a maximum of $9999.00 USD (due to tax issue) can be loaded total onto the card. (We did have an individual buy low denom's today with his ECC as well but did get 10k notes too). This would take several uploads and USD/USD transfers in order to load up. So in order to move this money (IQD) out of country to the states without carrying cash you would have to transfer the funds back to your stateside account using the ECC machine at your local base finance.

So:

1. Load the money from your stateside bank account to the cash card $350 a day

2. Purchase Dinars on it (Up to a $1000 dollars worth a month)

3. On the back side (after RV) take the Dinars back to finance and they will convert them back to USD and you can then upload the money from your local ECC machine to the stateside bank account.

It would be time consuming, and a drawn out process and take daily trips to finance but it is feasible and a Finance officer from a site has stated this. I will not give out site information as there are too many folks on here who could ruin this for individuals who are in the process of making this system work for them.

It's not something I intend on doing, as I will depart with a big grin on my face and see the tax/attorney CPA man when I get home. I've been here since early '06 and am as ready for an RV as anybody. All I gotta say is see you in Dubai when it hits!!! Cheers!

I'd also like to say thanks to all of you who have or are serving over here in whatever capacity it may be. Your contributions to your country and countrymen are a part of history, peace and freedom to all.

I'll be in the Bahamas with my umbrella'd drink sitting on the beach grilling out the lobster I just speared and making some conch salad, you're more than welcome to join me!

[Fi3ry_Ph03n1x]

I've been in Iraq since 2004 and I have never heard of putting IQD on an Eagle Cash Card, only USD from the owner's bank account. Maybe things have chaged very recently. I do know that we can only get a $200/month advance from our finance, and the military finance is and has been selling IQD for a while. No, we do not use IQD on base, it is for the soldiers that travel between bases, not for EXPATS. Don't let anyone try and BS you into believing something different.

This morning, I looked at my firefighter's wad of $480k IQD that he just got from military finance. He bought it and showed it to me. We are both civilian contractors. The end.

FP

[scottiraq04]

[steveCo] is it true that all the service employees are now only paid in Dinar?

[Fi3ry_Ph03n1x] No.

[Fi3ry_Ph03n1x] Here is the real deal.

[Fi3ry_Ph03n1x] I just got an e-mail on this earlier... just a few hours old.

[Fi3ry_Ph03n1x] Servicemembers have an "Eagle Cash Card". This is just like a debit card on military bases.

[Fi3ry_Ph03n1x] They can load it up with cash from their bank accounts back home and make purchases at AAFES and other locations.

[Fi3ry_Ph03n1x] This has been around for awhile.

[steveCo] we're talking the Iraqi nationals, right?

[Fi3ry_Ph03n1x] Just today, we found out that they will also be able to hold IQD on their cards.

[gwright] gm everyone

[steveCo] gm

[Fi3ry_Ph03n1x] They are still paid in USD and that is transferred to their bank accounts. But they can load up their Eagle Cash card with USD and then transfer it into IQD.

[fabby521] gm

[Fi3ry_Ph03n1x] It makes it easier for them to transfer IQD electronically and legitimizes and helps circulate the IQD.

[waverunn1] gm....any good news to wake up too?

[Fi3ry_Ph03n1x] But they are not paid in IQD here. It is just easily available to purchase now.

[gwright] just entered myself wave

[steveCo] so they can use the cash card at banks, atm's, or swipe it like a debit card for merchandise purchases?

[Fi3ry_Ph03n1x] No... this is the US Military. Military finance office.

[steveCo] ok

[Fi3ry_Ph03n1x] Contractors too. This is why I got the e-mail.

[waverunn1] Rats...hoping to not to have to go to work..* *

[gwright] same here wave* *

[steveCo] waverunn1* *

[Fi3ry_Ph03n1x] Anyone with a CAC card can go to finance and get hard currency up to $1,000 per month from the military finance office too.

[RAB42] waverunn1 GM I just looked in here real quick hoping for the same

[steveCo] but only up to $1k... ok

[Fi3ry_Ph03n1x] Yeah, similar to debit/credit purchases but only in places where they accept the Eagle Cash card.

[steveCo] and that hard currency can either be US$ or IQD?

[Fi3ry_Ph03n1x] (On military bases at some locations.)

[Fi3ry_Ph03n1x] Yes... you can get USD or IQD from the finance office.

[waverunn1] Fi3ry_Ph03n1x are u in theater?

[Fi3ry_Ph03n1x] In fact, think you are only allowed to get $300 USD, and up to $1,000 IQD in a month's time.

[Fi3ry_Ph03n1x] So they are def. trying to legitimize it.

[Fi3ry_Ph03n1x] waverunn1 Nod

[waverunn1] Fi3ry_Ph03n1x where at?

[steveCo] interesting. are you seeing any of the lower denoms?

[Fi3ry_Ph03n1x] Yeah, just this morning my coworker went to finance and got $480,000 IQD. I didn't look at his bills, but he said he had about 100 that he had to get back to the states.

[Fi3ry_Ph03n1x] He's gonna stuff them in greeting cards and mail them home* *

[Fi3ry_Ph03n1x] waverunn1: I could tell you but I'd have to kill you.

[Fi3ry_Ph03n1x] :0

This is very similar to what the Waraka Bank at the U.S. Embassy in Iraq is doing. On several occasions I have gone to withdraw money from their ATM with my, State-side, debit card. You have the option of either withdrawing USD or IQD. The ability to withdraw both currencies was one of the many stipulations the State Department had before accepting this bank to operate on U.S. soil. The ATM takes all major credit cards and only debts cards with the "cirrus" symbol on the back.

[scottiraq04]

No, we do not use IQD on base, it is for the soldiers that travel between bases, not for EXPATS.

I think this one statement needs a little clarification...No, Soldiers do not use IQD to purchase items at the PX (AAFES)...BUT...they can use IQD, if they choose to do so, to purchase items from the Local (Iraqi) Bazaar's; and there is a Bazaar on just about every FOB in Iraq. All Bazaar's will accept USD and/or IQD. I know this because I have purchased several items at Bazaar's with IQD.

[dasft]

Interesting -Seems Close

[malachi]

Thanks Phx for the updated intell to what happening on the ground there in Iraq... We hope this rodeo is finally coming to an end.

[Duce]

This morning, I looked at my firefighter's wad of $480k IQD that he just got from military finance. He bought it and showed it to me. We are both civilian contractors. The end.

FP

What's your point? Did you just want us to know that your friend showed you his wad? What does quoting me have to do with buying Dinar? I never said we couldn't buy Dinar on base, matter of fact, I cited that we CAN buy it from military fincance. And we DO NOT use IQD on base, that's a FACT, with the exception of buying at the SOUQ or Bazaars.

[jcanepa77]

Thanks for the info.