IF the RD/RV happens, will you be prepared??

[keepmwlknfny]

Ive been thinking lately about what we have been seeing come out the past year and half I have been involved (I have studied both sides of the spectrum) and while the last thing I want to happen is a RD/RV, the numbers dont add up (present day) to a straight up RV so I have really been wondering about the options we do have if the worst case should happen.....

First off I really think Im gonna sell my dinar back, and then take that money to fund a warka account......for what reason you ask? Because if there is a RD/RV you wont have to worry about any exchange process and paying more fees for getting the lower denoms......then that would be when the real investment starts because you can just hold on to that warka account, get the crazy high interest returns (compared to our banks here) and you could wait for them to reach the 3 dollar mark again successfully maximizing your profits from a lop/rd.....not what we want but hey, its something right?? You also have the option of putting funds into the ISX which will probly be one of the highest growing markets in the near future once things really take off for Iraq....lots of money to be made there.....

The biggest reason for me thinking more and more about warka, (and which why alot of you should really weigh your options here) is because there isent even a guarantee that we will have access to the new lower denoms if a RD is to happen.......it surely doesnt seem like this would be a smart move and would seem unlikely, but Im sure thats what the many Jordanian business men thought the same thing and they got shut out with the rest of the world during the first exchange process and they didnt even lop or what most people would consider a true redenomination!! There have been countries that shut the door to the outside world during a redenomination or exchange process and it could very well happen to us so what are we going to do if that happens?? End up selling back to the dealers (if they will even take it back) for a straight up loss due to processing fees and then the ride is completely over?? F&%k that......Id at least want that chance to turn it into something positive wouldnt you agree??

And of course if we have been fooled this whole time and they are able to magically pull a 1 dollar RV out of their arses, then heck we still have made bank but we were at least prepared for the worst possible outcome!! Just some food to chew on........

STAY THIRSTY!!

[Kimberlye]

Thanks for the post, Keep. My money is in Warka and I was a little concerned about it if we did have an RD what would happen. I feel a little better about my decision now. I'm hoping for a straight up RV, but at least I am in a good place if it happens to go the other way. I too have considered investing in Iraqi stocks, just haven't taken that leap yet. It's going to take a lot more due diligence on my part to really be prepared to take that step, but I think it's a worthwhile venture as well.

Thanks again for the post,

Kimberlye

[bamagirl]

Thanks Keep, something to think about if it coms to it.

[WallyWeaver]

Thanks for sharing your thoughts keep, It is always enjoyable to me hear what people are really thinking about this "investment."

As a side note: I am in the processof trying to open a Warka account but it seems like all progress has stopped. My original application email to them was on July 11th. I received a response email on July 17th and then another on July 23rd saying my account was ready to be opened and I would be emailed my account #(s) and wiring information shortly. I have not heard from them since. I have a friend who is not a DV member but has money in dinar who started a week earlier than I did( to open an account with Warka). He has had the same experience. He said everything was right on track and then.... crickets.

Is anyone else out there having a similar experience? I suppose it's related to Ramadan but just wondering if anyone else has a similar story.

[Jaygo]

Thanks for sharing your thoughts keep, It is always enjoyable to me hear what people are really thinking about this "investment."

As a side note: I am in the processof trying to open a Warka account but it seems like all progress has stopped. My original application email to them was on July 11th. I received a response email on July 17th and then another on July 23rd saying my account was ready to be opened and I would be emailed my account #(s) and wiring information shortly. I have not heard from them since. I have a friend who is not a DV member but has money in dinar who started a week earlier than I did( to open an account with Warka). He has had the same experience. He said everything was right on track and then.... crickets.

Is anyone else out there having a similar experience? I suppose it's related to Ramadan but just wondering if anyone else has a similar story.

Nor related to Ramadan... i tried to open an account more than 30 days ago and they have not got back to me yet. Have tried to email my contact twice with no response.

[tandy]

Keep I always respect your opinion but personally from what I have read and heard from the info coming from reliable? sources ( official documents and pubs) I am thinking an rv in the 3$ to $3.40 range is not only a good possibility but also a nesessity if Iraq is going to get on board with the rest of the world and be a contributing player to the economic health of the world economy. Just my worthless opinion but I think it is just around the corner. Anyway cheersand blessings to everybody!!!

[keepmwlknfny]

One thing I have thought of as well but honestly I dont even know if this is possible lol but it was a weird thought I was having......(let me know what you all think)

What if dealers were able to get the new lower denoms during the RD process?? You would be able to buy a ton of the new bills at the 1170 rate and just wait for the RD process to be over, which they would then raise the rate to around 1 dollar and you could MAYBE walk out with a couple mil in your pocket.......or even if you knew someone inside of Iraq like maybe someone in the service, they could maybe even buy a bunch of the new lower denoms at the 1170 rate and hold on to them.....I have no clue if this is even possible but it was something my mind was pondering should they really RD....there is always another way to skin a cat right? LOL

[dinardarius]

Bush bought 400 million Dinars back in 2003

[keepmwlknfny]

Keep I always respect your opinion but personally from what I have read and heard from the info coming from reliable? sources ( official documents and pubs) I am thinking an rv in the 3$ to $3.40 range is not only a good possibility but also a nesessity if Iraq is going to get on board with the rest of the world and be a contributing player to the economic health of the world economy. Just my worthless opinion but I think it is just around the corner. Anyway cheersand blessings to everybody!!!

I used to think the same thing Tandy......that was of course till I started digging into the numbers side of things and I cant get that range of rates to work correctly with what they have.....seems Im not the only one that is on the same thought process.....its just too hard to ignore ya know?? I just hope that they have been BS this whole time....

[sportfisher]

I'm gonna ride this thing into the ground or into the sky with cash in hand

[thejordans4]

Bush bought 400 million Dinars back in 2003

How do you know this?

[Up North]

Thanks for the post, Keep. My money is in Warka and I was a little concerned about it if we did have an RD what would happen. I feel a little better about my decision now. I'm hoping for a straight up RV, but at least I am in a good place if it happens to go the other way. I too have considered investing in Iraqi stocks, just haven't taken that leap yet. It's going to take a lot more due diligence on my part to really be prepared to take that step, but I think it's a worthwhile venture as well.

Thanks again for the post,

Kimberlye

If you are not an experienced trader, I would lay low on the ISX idea for a bit, The Iraqi citizens need to have money in order to spend and create patterns for us to follow etc...Just my opinion, I am not a professional and my opinions should be taken as opinions. After the dust settles, I intend to invest in the ISX through Warka.

[brandedbabe]

One thing I have thought of as well but honestly I dont even know if this is possible lol but it was a weird thought I was having......(let me know what you all think)

What if dealers were able to get the new lower denoms during the RD process?? You would be able to buy a ton of the new bills at the 1170 rate and just wait for the RD process to be over, which they would then raise the rate to around 1 dollar and you could MAYBE walk out with a couple mil in your pocket.......or even if you knew someone inside of Iraq like maybe someone in the service, they could maybe even buy a bunch of the new lower denoms at the 1170 rate and hold on to them.....I have no clue if this is even possible but it was something my mind was pondering should they really RD....there is always another way to skin a cat right? LOL

This situation your talking about will not happen....based on the goals they plan to RD to dedollarize Iraq, make cash transaction simpler and lower the overall money supply in general. You can print 29 trillion in lower denominations to replace 29 trillion in "000" currency.

I personally think the RD will be an exchange in country only before the RV on the principal's of it looking like a Lop. So an Iraqi takes 25,000 dinar and exchanges it for 25 new dinar. Then once they go international with the new rate they honor the "000" the same as the new lowers in order to be recognized internationally. It is a shady way to treat the people in your own country but would work to reduce money supply.

Or they could have pulled "000" over the last 3 years and straight RV. I know numbers at the CBI don't support this but I don't believe those numbers are true as everyone knows my opinion already. If you think about it Iraq's CBI website itself could be fake and has nothing to do with them being transparent. Just have someone update every couple days to look as if it is functioning....who knows?

[wishwell11]

One thing I have thought of as well but honestly I dont even know if this is possible lol but it was a weird thought I was having......(let me know what you all think)

What if dealers were able to get the new lower denoms during the RD process?? You would be able to buy a ton of the new bills at the 1170 rate and just wait for the RD process to be over, which they would then raise the rate to around 1 dollar and you could MAYBE walk out with a couple mil in your pocket.......or even if you knew someone inside of Iraq like maybe someone in the service, they could maybe even buy a bunch of the new lower denoms at the 1170 rate and hold on to them.....I have no clue if this is even possible but it was something my mind was pondering should they really RD....there is always another way to skin a cat right? LOL

Keepm,

I had the same question so I went straight to the source, my dealer, and following the directions on where to send questions. I did not receive a response then, nor a follow-up to date and checking my docs...its been quite a while ago. I even addressed not receiving a response but still no answer. I have not seen that question addressed before but coincidentally soon after I sent my correspondence the same scenario was written up in an unofficial "post" format...with an assumed response that said pretty much ..They sold ...you bought, not obligated to exchange for new denominations. Is it a coincidence? or a backhanded answer. One can only speculate...I will continue waiting for their response to my correspondence that was sent as directed.

Wishwell11

[GI_Jane]

Agree on the Warka account Easy. I've been thinking pretty much the same thing as you. I've been holding dinar since 2004 when the rate was 1700something. Took them home and forgot about them for years. In the past 3 months I got back into the dinar and decided if Iraq didn't RV, I'd get myself a Warka account and put some money there. I've applied, but like the others am still waiting for it. I like the interest rate and will look into the ISX but not until after Shabbs makes up his mind what he's gonna do.

Thanks for the post!

[keepmwlknfny]

This situation your talking about will not happen....based on the goals they plan to RD to dedollarize Iraq, make cash transaction simpler and lower the overall money supply in general. You can print 29 trillion in lower denominations to replace 29 trillion in "000" currency.

I personally think the RD will be an exchange in country only before the RV on the principal's of it looking like a Lop. So an Iraqi takes 25,000 dinar and exchanges it for 25 new dinar. Then once they go international with the new rate they honor the "000" the same as the new lowers in order to be recognized internationally. It is a shady way to treat the people in your own country but would work to reduce money supply.

Or they could have pulled "000" over the last 3 years and straight RV. I know numbers at the CBI don't support this but I don't believe those numbers are true as everyone knows my opinion already. If you think about it Iraq's CBI website itself could be fake and has nothing to do with them being transparent. Just have someone update every couple days to look as if it is functioning....who knows?

If they print 29 trillion in lower denoms then they fail to accomplish what the RD is about in the first place....reducing the money supply.......

If you RD only in country whats to stop them from jumping one country over and exchanging for full value?? That wouldnt work out at all......It would again defeat the purpose.....which is why I think that they will be closing the borders down.....which could be alot of trouble for us.....

The only reason why I do believe the numbers and audits is because its written into the CBI laws about keeping these records transparent and up to date....so if you cant believe the laws they made for themselves then what can you believe??

Keepm,

I had the same question so I went straight to the source, my dealer, and following the directions on where to send questions. I did not receive a response then, nor a follow-up to date and checking my docs...its been quite a while ago. I even addressed not receiving a response but still no answer. I have not seen that question addressed before but coincidentally soon after I sent my correspondence the same scenario was written up in an unofficial "post" format...with an assumed response that said pretty much ..They sold ...you bought, not obligated to exchange for new denominations. Is it a coincidence? or a backhanded answer. One can only speculate...I will continue waiting for their response to my correspondence that was sent as directed.

Wishwell11

Thats really shady.......maybe we have been wrapped up too tight with emotion on this that we have been ignoring the ever ending statements that we would have to travel to Iraq to exchange the bills we hold?? I certainly am not going to take that chance....might as well go ahead and get in Iraq electronically LOL......soon as I get squared away in the new place, that will be my mission....

[WallyWeaver]

Nor related to Ramadan... i tried to open an account more than 30 days ago and they have not got back to me yet. Have tried to email my contact twice with no response.

How many emails from Warka have you received so far and what did the last one say, if you don't mind?

[sheik]

Sure. You exchange your $ pay the taxes and then spend it and invest it. Who needs to be prepared?

[WallyWeaver]

As anyone can read from my membership date I am kind of new to this site. I do have a question and if it has been covered a million times already please forgive me:

I was reading on another post and someone said that the CBI is gathering the higher denom. notes and destroying them. I asked the poster if they had a link for this and they never replied. Has anyone else heard anything about this? This would certainly be good news for a Rv, that is, if it were true.

[andy3978]

If they do RD, I believe it will be an RD/RV simultaneously. If this is the case I will take my 4 million (now would be 4,000) cash out at the local bank at 3:1; take my stupid $12,000 minus the spread, taxes, and what I put into it out of pocket and look at that measly $4,000 I have left and realize...this is how much money I invested in this to begin with.

I'm sure at that point I would log off of here permanently and begin cursing Iraq, the GOI, CBI, Shabibi, etc

While I see the logic in the argument for the lop, there is the fact that the CBI has made it a mission to remove the 000 notes from circulation. The wild card here is that we really dont know and have no way of knowing exactly how many notes they were able to bring in. They may have done a great job and removed a ton of 000's from circulation, enough to the point where they can do a straight but small RV. We arent going to know until it happens.

[JTMagones]

If we were ment to get rich we will and if Bush bought 400million Dinar then there has to be somthing in it....

[keepmwlknfny]

As anyone can read from my membership date I am kind of new to this site. I do have a question and if it has been covered a million times already please forgive me:

I was reading on another post and someone said that the CBI is gathering the higher denom. notes and destroying them. I asked the poster if they had a link for this and they never replied. Has anyone else heard anything about this? This would certainly be good news for a Rv, that is, if it were true.

Thats just something people have been passing around as fact when there is no indication of it happening at all......I guess it just makes them feel better to say that when they think about the high numbers of currency in circulation.......In fact from the reports from the CBI, the numbers are actually going up almost every month....

Sure. You exchange your $ pay the taxes and then spend it and invest it. Who needs to be prepared?

This was part of the point of my post......who says that you will be able to exchange them back period?? Or even exchange for the lower denoms??? You might only be able to exchange for USD back and thats before the RD process is over so you end up exchanging back with no change in value of the dinar........

If they do RD, I believe it will be an RD/RV simultaneously. If this is the case I will take my 4 million (now would be 4,000) cash out at the local bank at 3:1; take my stupid $12,000 minus the spread, taxes, and what I put into it out of pocket and look at that measly $4,000 I have left and realize...this is how much money I invested in this to begin with.

I'm sure at that point I would log off of here permanently and begin cursing Iraq, the GOI, CBI, Shabibi, etc

While I see the logic in the argument for the lop, there is the fact that the CBI has made it a mission to remove the 000 notes from circulation. The wild card here is that we really dont know and have no way of knowing exactly how many notes they were able to bring in. They may have done a great job and removed a ton of 000's from circulation, enough to the point where they can do a straight but small RV. We arent going to know until it happens.

Usually when a RD happens, the value isent raised until the exchange process time period is complete and the old bills (ones we hold now) are deemed worthless and invalid as currency......so what are you going to do if no one here in the states can even exchange your dinar back to USD (even at the 1170 rate) because Iraq shut down the borders and will not take any of their currency back from outside its own borders??

Yes the CBI has stated for sometime they plan on reducing the cash supply but thats been part of this "delete the zeros" plan which hasent been voted on yet or approved......what makes you think that they have been pulling notes back in especially when they keep printing new bills? Just curious bro.....

[keepmwlknfny]

Bush bought 400 million Dinars back in 2003

Yea.....of course he did! LOL......sheesh......

[sheik]

Keeps- Incredible post. Makes complete sense to me.

[keepmwlknfny]

Keeps- Incredible post. Makes complete sense to me.

Not trying to scare anyone but these are valid points I have been tossing around in my head and wondering if anyone else has been thinking the same.....cause it would suck if we just sit here and assume we will be able to exchange back and end up getting the shaft.....

Has it not made you wonder why Ali and other dealers have stopped selling or they might still be selling but are telling people they are no longer buying back?? They dont have any obligation, promises, or guarantees that they can get the new denoms if a RD happens.....and why would they buy back any dinars if there is a chance they cant exchange them back either?? Then the dealers are stuck with tons of worthless dinar that they cannot do anything with......

I truely hope things dont turn out this way but better to be safe then sorry.....Warka is looking VERY attractive right now.....