Went to the bank today

[Carrello]

Ok I have only posted on this site once before. I usually am just here keeping up with the latest news and rumors. I was in Iraq working for KBR in 2003 when the new Iraqi currency was first available. I can tell you it wasn't anywhere near $150 per million. I bought 2 million the day it bacame available and paid a little over $500 per million, I don't remember the exact amount.

Thank you, Refiner. Good info. I hear you.

[Carrello]

NOT after some of the people in this tread tell me i don't know my math on the formula for cross-rate calculations a/b x b/c =c/b

This is just debate and conversation, that's all. If someone disagrees with you, big deal. Thoughts and information flow freely when we are not uptight. We have bigger fish to fry. Hell, you might learn something. You never know.

[captl1]

This is just debate and conversation, that's all. If someone disagrees with you, big deal. Thoughts and information flow freely when we are not uptight. We have bigger fish to fry. Hell, you might learn something. You never know.

Does this mean I can still make the Rum Punch? lol

[randalln]

I don't know Randlin you sound like Aqua Dude to me. You are all about yourselves.

Well thank you I like aqua dude he is a smart cookie and uses common sense

And if you think that any body has got your best interest in mind when it comes to millions of dollars you are not going to make it long

If i was all about my self .I would not even bother to try to teach you guys how this works ,and come back with info that i could have kept to my self .

So y'all continue to have a pipe dream about how this is going to turn out.

Ok I have only posted on this site once before. I usually am just here keeping up with the latest news and rumors. I was in Iraq working for KBR in 2003 when the new Iraqi currency was first available. I can tell you it wasn't anywhere near $150 per million. I bought 2 million the day it bacame available and paid a little over $500 per million, I don't remember the exact amount.

Who did you buy it from ?

I bought mine before it even changed to the new dinar ........

and if you payed 500 per million you got taken

Mt iraqi workers where happy with $ 100 per million but i gave them more

no one took the new iraqi dinar in 03' not even the beer guy at the end of the road

so you must have been in Bagdad at a rate of 500+

everybody wanted USD and would trade for anything from America

the rate was 4000 to 1 and thats only $250per million sooooooo you definitely got taken

[randalln]

here is the link for the facts

Although the value of the dinar appreciated following the introduction of the new banknotes from 4,000 dinars per U.S. dollar, at the time of their introduction, to a high of 980 dinars per dollar, it is now held at a "program" exchange rate, as specified by the International Monetary Fund,^{[citation needed]}of 1170 dinars per US dollar at the Central Bank of Iraq. However, there is not yet a set international exchange rate and so international banks do not yet exchange Iraqi dinar. The exchange rate available on the streets of Iraq is around 1200 dinars per US dollar.

[randalln]

Randalln, obviously your education didn't end in 12th grade!!! I understand this. It makes sense and I appreciate you bringing it to the board

Mak63

Thanks BUT............ I quit school in the 8th grade and got a GED went to work in my families business youngest journeyman in texas to this day (and the second highest score on my exam )(behind my DAD) went back and got my masters at 22 1/2 and a mechanical engineering degree at 27.

and i have been working the whole time .

So I don't think its the amount of education you get But the quality of the education system ...

The had good teachers when i went to school they even encourage my family to let me take my GED early because of the inability to hold my attention in class (got d's all month till the test's came always A's) they new they only had to tell me once to get it right .

That is a good debate to have .....how the education today (takes longer to learn things )than it did in the 70's and its not the kids ..................

But to hear you say that makes me proud

Thanks again

Randall N

I do wish i would have payed more attention in English class though O and maybe spelling

[design interrupted]

its not zipper hahahahaha

where have you been

I'm okay with it not being zipper...I'll still take tequila while you're learning how to handle the button fly !!!!

Ultimately, Rock Star...we have NO control.

Glad you're well...

[Stryker365]

Iraq doesn't have to have the oil to pay for all the dinar. The dinar is a fiat currency just like the US dollar is a fiat currency. They are not commodity backed currencies..... Yet! And who knows if they will truly go to a commodity backed currency... And to Iraq, our dinar doesn't matter when it comes to cash in. Its the US that needs to worry about OUR Dinar. When we cash in our dinar to dollars, the dinar will be taken off the market and will not flood back into the Iraqi market causing inflation. It will be digital dollars that enter the US market. Thats why i believe the Govt and the Feds had something to do with stopping DinarTrade, with him being 80% of the market. I believe they were keeping track of the dinar coming into the states and being sold. And I believe there is a threshold where if there are too many dinar here in the states and the revalue happens, it wouldend up hurting our economy with too much inflation. The currency that truly matters is what is currently inside of Iraq right now, not what's outside of Iraq. I'll use the US as an example.... There is a reported 2.4 trillion dollars in circulation here in the states. But outside of the states there are trillions and trillions of dollars. Most of those dollars are held by central banks who use those dollars to purchase oil, using what's called the petro dollar. If there was a complete collapse of let's say the petro dollar, or confidence in the dollar and all of the dollars came flooding back into the US, then we would see massive massive inflation here. The Feds wouldn't be able to pull it all out of circulation fast enough and there would be a banking holidays. Iraq doesn't have to worry about our currency thats already here in the states. They have to worry about the currency circulating within their own country.

Nice post TeeMoney but let me clarify one thing if you don't mind.

There is 1.1 trillion in circulation in US

There is 1.5 trillion in banks and that's referred to as "parked" funds ready to flow into circulation if needed

There is assets of 2.6 trillion to cover these amounts

US Treasury Bonds cover all other USD that's out there, everywhere else.

Covered on the balance sheets on the US Treasury web site.

Edited December 11, 2011 by Stryker365

[Carrello]

Does this mean I can still make the Rum Punch? lol

I would like to see you doing the backstroke in the Rum Punch!

[despain]

This has been one of the most educational threads I have read in the past 25 months. Thanks to all of you for your input. Randalin...I hope you are wrong, but common sense tells me that you might be EXACTLY right. 30,000 for a 1,000 investment is pretty damn good. I will take it! Lets just get this over with. Thanks again to all of you!

[jmw]

The lady told me on the phone at the bank managers desk .........that there will be a reinstatement after the first of the year at .00365237

Check it if you want BBVA compass texas

everyone seems to be worried about the math...yet we are to believe that the local BBVA bank manager is in the know on the biggest currency revalue in the history of the world?...weeks ahead of when it will happen...and has no problem telling perfect strangers that the IQD is going to more that triple in value in a couple of weeks....pretty sure IF she did know...it would be against several laws to be informing people of their plans.

Iraq doesn't have to have the oil to pay for all the dinar. The dinar is a fiat currency just like the US dollar is a fiat currency. They are not commodity backed currencies..... Yet! And who knows if they will truly go to a commodity backed currency... And to Iraq, our dinar doesn't matter when it comes to cash in. Its the US that needs to worry about OUR Dinar. When we cash in our dinar to dollars, the dinar will be taken off the market and will not flood back into the Iraqi market causing inflation. It will be digital dollars that enter the US market. Thats why i believe the Govt and the Feds had something to do with stopping DinarTrade, with him being 80% of the market. I believe they were keeping track of the dinar coming into the states and being sold. And I believe there is a threshold where if there are too many dinar here in the states and the revalue happens, it wouldend up hurting our economy with too much inflation. The currency that truly matters is what is currently inside of Iraq right now, not what's outside of Iraq. I'll use the US as an example.... There is a reported 2.4 trillion dollars in circulation here in the states. But outside of the states there are trillions and trillions of dollars. Most of those dollars are held by central banks who use those dollars to purchase oil, using what's called the petro dollar. If there was a complete collapse of let's say the petro dollar, or confidence in the dollar and all of the dollars came flooding back into the US, then we would see massive massive inflation here. The Feds wouldn't be able to pull it all out of circulation fast enough and there would be a banking holidays. Iraq doesn't have to worry about our currency thats already here in the states. They have to worry about the currency circulating within their own country.

Dinar is a pegged currency...pegged to the US dollar...NOT a fiat currency...and it is back by their reserves at 100%...they do this to maintain the exchange price...how can Iraq produce "digital" dollars?...only our federal reserve can do that...the IQD WOULD flood the CBI...and they're the ones who have to pay for them when they come back.

[Mak63]

Sorry, this was posted at a different site.

The main reason that Iraq will RV at $3 plus is basically a banking "TRICK" called "fractional banking"..this is posted below and probably should be required reading for all new investors ENJOY!!!!!!!!

How Fractional Banking Economics will allow a high RV

EXPLAINED:

First off, I’ll use the exchange of a 10,000 IQD note as my example. To help explain the economics of this cash-in example,

I will use a 1:1 cash-in ratio between the USD and IQD, that is given a two-tier payout, and a 2% bank spread.

What You Will Receive:

If you were to cash in your 10,000 IQD note with a bank that charges you a 2% spread, you would personally receive a net

take-home of $9,800 credited to your bank account.

What Your Bank Will Receive:

Your Bank will receive a $10,000 credit to its Federal Reserve Account. They will also be able to add the $200 profit to

their capital account.

If you don’t understand the Fractional Banking concept that runs our country, you may want to, as that is what this is

based on, and is what is behind this entire concept and plan.

Ultimately, the bank wins because they are able to gain $2,000 in lending power under the 10% Fractional Banking model.

What the US Treasury Will Receive:

First off, the US Treasury will receive $3,500 in estimated taxes in the quarter after the exchange, because you are now

in the rich category and get to enjoy the 35% tax bracket. This lowers the net cost of the IQD exchange to the US financial

system to $6,500 USD (i.e. $10,000 out $3,500 in). Furthermore, the US Treasury’s rate is higher than the banking rate (we will use in this example 1.25), thereby further reducing their net cost from $6,500 to $4,000.

Oil Now Enters the Picture:

At some point, a Fed-appointed agent orders $12,500 worth of oil from Iraq. Payment will consist of a $12,500 transfer from

the Fed’s foreign currency reserve IQD account to the IRAQ Oil payment account at the CBI in a form otherwise known as

PetroDollars/PetroDinar. Even though the world spot price of oil is defined in terms of USD, the actual transaction may take

place in any internationally recognized currency agreed to by the parties. For example, Iran only accepts Yen from Japan for

their oil orders, because they don’t want USD in their foreign currency reserves.

=====================================

How the CBI RECAPTURES the Money:

The $12,500 order is filled with 250 barrels of oil based on the spot price on the date of the sale (for this example we used

a $50 USD spot price). What does it cost Iraq to produce the oil to fill this order? Well they have negotiated productions

agreements for approximately $1.50 USD/barrel. From that price $.50 USD goes to the national Iraqi oil company who is the

partner in the field the oil came from. Out of the remaining $1.00 the other oil field partners have to pay the Iraq government

a profit tax of $.35 USD (35%). The net cost to Iraq to produce a barrel of oil used in this scenario is $.65 USD. (i.e. $1.50

.50 .35)

=====================================

What does all that mean? It cost Iraq $162.50 to bring back a 10,000 IQD note! Can they afford that? I think so! So, instead of

paying out $12,500 for a 10,000 IQD note, they only pay $162.50! That doesn’t add to the money supply much at all does it! They

receive their IQD back and place it in the CBI, or destroy it.

=====================================

The transaction is completed with the Federal Reserve exchanging foreign reserve credits which are equal to $12,500 USD (which

had a net acquisition cost of $4,000 USD for the US) for 250 barrels of oil (which has a TOTAL COST to produce of $162.50 USD

for Iraq.

=====================================

More completely explained, and simply put, it cost Iraq $162.50 USD from their foreign currency reserve accounts to redeem the

value of 10,000 IQD, which goes into their operating accounts. At the same time the US got $12,500 worth of oil for a net cost

of $4,000. That’s how it was originally planned for Iraq to RV at 1 IQD = 1 USD, with the variable being the political element

(i.e. UN Sanctions, GOI actions, IMF actions, World Bank actions etc.)

=====================================

Other Factors that Strengthen Iraq’s Position and Ability to RV:

*DFI Funds Returned & Other Assets: $280+ Billion USD, plus other frozen assets (estimated at $100 billion) will be returned back

to Iraq and added to their foreign currency reserve, bringing it up to $430+ billion USD.

*CBI IQD Reserve Requirement Adjustment: The CBI will change the current fractional IQD reserve requirements from 100% to 15% at

the appropriate time. As a result, the the total potential money supply will be raised in value to $2.8 Trillion (430 billion/15)

, while at the same time, the total physical IQD in circulation will be reduced by removing the large bills with the 3 zeros over

a period of 2 years, as they have indicated.

*Oil Production Increased: Iraq will also execute the plan they announced to increase oil production from 2+ million barrels/day

to 10 million barrels/day with the resulting revenues flowing directly to the Iraq treasury.

*Oil Futures & Forex Contracts Added: To further stir the pot, the CBI will continue to use it’s sales window to market oil

futures and forex contracts. They have shown they can generate significant cash flow in the private market. Think of their

impact in public markets.

There, my friends, is how this plan will be enacted and made possible. Taking NOTHING, and turning it into SOMETHING, then

bringing it back to a manageable and reasonable something that is accepted and supported by seeming endless supplies of oil.

This is how the world’s ENTIRE NEW MONETARY SYSTEM will be regenerated and supported and backed, given, in essence, a re-birth

and renewed for most governments and economic regions even by Black Gold.

So, here’s the summary for all the players involved, giving ballpark numbers, and not taking into account superfluous costs,

fees, and other small details that don’t really affect the larger picture:

*Investor’s Net Gain: $10,000 $200 = $9,800 x .65 = 6,370 for an investment that cost $10

*Bank’s Net Gain: $200 added to capital account, plus $2,000 they can use to loan out.

*US Treasury Net Gain: $2,500 from the .25 spread on top + $3,500 in quarterly taxes = $6,000

*CBI/GOI/Iraqi People Net Gain: $12,500 $162.50 = $12,337.50 + Profits from Other Factors

*Overall Net Gain for All Involved: $6,370+$200+$6,000+12,337.20 = $24,907.20

This is the wealth that was generated from a single 10,000 IQD note that was given an original value of approximately $10!

Is that amazing or what?! You tell me can Iraq afford NOT to RV?!!! Will the IMF allow them to NOT RV their currency, but

simply replace their large denoms for smaller ones?!!! LOL!!!

In this scenario, EVERYONE WINS and the IQD is slowly (over 2 years) taken back in to the CBI eventually destroyed, leaving a

manageable M2 behind, having created HUGE WEALTH throughout the world to re-supply what was allowed to be destroyed in the great

bleed over a period of just a few weeks a couple of years ago, even the greatest redistribution of wealth the world has ever

seen. Believe it or not, it has happened for this very purpose, and it IS coming!

Where is this posted from?

Mak63

[randalln]

everyone seems to be worried about the math...yet we are to believe that the local BBVA bank manager is in the know on the biggest currency revalue in the history of the world?...weeks ahead of when it will happen...and has no problem telling perfect strangers that the IQD is going to more that triple in value in a couple of weeks....pretty sure IF she did know...it would be against several laws to be informing people of their plans.

Dinar is a pegged currency...pegged to the US dollar...NOT a fiat currency...and it is back by their reserves at 100%...they do this to maintain the exchange price...how can Iraq produce "digital" dollars?...only our federal reserve can do that...the IQD WOULD flood the CBI...and they're the ones who have to pay for them when they come back.

First ,My family has been in business since 1935 in this town ,so we are not strangers

And it was not a local BBVA compass manager It was the rep.for foreign currency in there national branch .that all the branches have to call for rates

no local branch is going to have the authority to buy foreign currency without there say so .

And you should be worried about the math thats all banking is is math

[randalln]

Can you get a masters degree with only a GED? I'm pretty sure you have to have a bachelors degree first.

not in my field ........ normally 5 years as a Apprentice(8000 hours combo work and school ) then your a Journeyman(4000 hours combo work and school) then you can take your Masters then with that degree you can do ( 150 hours school ) and get a engineering degree

[jmw]

First ,My family has been in business since 1935 in this town ,so we are not strangers

And it was not a local BBVA compass manager It was the rep.for foreign currency in there national branch .that all the branches have to call for rates

no local branch is going to have the authority to buy foreign currency without there say so .

And you should be worried about the math thats all banking is is math

So the national Rep for foreign currency knows your family as well?

You missed the point as much as you missed the math...NO BANK EMPLOYEE is ever going to tell YOU or anyone else that a currency is going to increase in value 300%...Never...not unless they want to go to jail...which makes the whole post BS.

Edited December 11, 2011 by jmw

[randalln]

In the real world like construction You have to have experience in a field to get a job at the top

Now i understand lots of people go to school for 8 years and get out looking for a job ,,,,,but they start at the bottom if they even get a job .

if you do that in construction you will never get hired at a top position

WE CALL THT BOOK SMART and that has no application in the construction field except in the office .

[randalln]

So the national Rep for foreign currency knows your family as well?

You missed the point as much as you missed the math...NO BANK EMPLOYEE is ever going to tell YOU or anyone else that a currency is going to increase in value 300%...Never...not unless they want to go to jail...which makes the whole post BS.

you are confused Insider trading dose not cover currency

there is no law witch states that you can't tell some one that a currency is expected to revalue

If there was we would all be in jail JMW

so when you get to be a congressman maybe you can make a law

Shabbi tell you every other day that its going to revalue HAHAHAHAHAHAHAHAHAHA LAMO

[20MillionDinar]

So the national Rep for foreign currency knows your family as well?

You missed the point as much as you missed the math...NO BANK EMPLOYEE is ever going to tell YOU or anyone else that a currency is going to increase in value 300%...Never...not unless they want to go to jail...which makes the whole post BS.

Insider Trading with FOREX? I don't think so...

That doesn't exist JMW.

[randalln]

but you can call BBVA COMPASS and they will give you the rate and buy your dinar and if you get to know the person that is helping you they will even tell you what is about to take place

So the national Rep for foreign currency knows your family as well?

You missed the point as much as you missed the math...NO BANK EMPLOYEE is ever going to tell YOU or anyone else that a currency is going to increase in value 300%...Never...not unless they want to go to jail...which makes the whole post BS.

And yes as soon as there screen comes up with the name of my family Business (that was est.1930's and account info.) attached to my name they usually sit up strait

[bamjack75]

You have to question people's (jmw) intentions when they don't even own dinar anymore? I guess misery does need company.

[20MillionDinar]

You have to question people's (jmw) intentions when they don't even own dinar anymore? I guess misery does need company.

Seriously! Why even bother wasting your time coming here if you don't own dinars.

Also, why try to "set the record straight" on something you have no idea about anyways? (i.e. Insider Trading on the FOREX market) I think he is the one who loses credibility, not the original poster like he had accused!

[lakeliving]

everyone seems to be worried about the math...yet we are to believe that the local BBVA bank manager is in the know on the biggest currency revalue in the history of the world?...weeks ahead of when it will happen...and has no problem telling perfect strangers that the IQD is going to more that triple in value in a couple of weeks....pretty sure IF she did know...it would be against several laws to be informing people of their plans.

Dinar is a pegged currency...pegged to the US dollar...NOT a fiat currency...and it is back by their reserves at 100%...they do this to maintain the exchange price...how can Iraq produce "digital" dollars?...only our federal reserve can do that...the IQD WOULD flood the CBI...and they're the ones who have to pay for them when they come back.

I would give you a +5 if I could! This whole string is quite ridiculous due to the very first post. Why would the Beaumont bank manager even know? And why would he sell to prove a point when he could have bought his friend in and have the teller tell the friend what the exchange would be for a million. And he questions if if should be in rumors...Really????

[20MillionDinar]

I would give you a +5 if I could! This whole string is quite ridiculous due to the very first post. Why would the Beaumont bank manager even know? And why would he sell to prove a point when he could have bought his friend in and have the teller tell the friend what the exchange would be for a million. And he questions if if should be in rumors...Really????

Dinar is a pegged currency...pegged to the US dollar...NOT a fiat currency... Thank You

From my understanding Randalln probably has close to $250,000 worth of Dinar!

Also, he purchased it years ago for extremely cheap compared to what most of us payed.

He sold to prove a point to a friend, then decided to share his story here with us.

**The Dinar is a pegged currency, but won't be for long. Isn't this the reason why you are here, HOPING THAT ONE DAY IT WILL NO LONGER BE PEGGED! ?????

[randalln]

I'm okay with it not being zipper...I'll still take tequila while you're learning how to handle the button fly !!!!

Ultimately, Rock Star...we have NO control.

Glad you're well...

Thanks DI I'm much better I think the doctors went to the Okie school of Med. (when it comes to diagnoses )

And yes i do the tequila with ya but only after i handle that button fly.....

From my understanding Randalln probably has close to $250,000 worth of Dinar!

Also, he purchased it years ago for extremely cheap compared to what most of us payed.

He sold to prove a point to a friend, then decided to share his story here with us.

**The Dinar is a pegged currency, but won't be for long. Isn't this the reason why you are here, HOPING THAT ONE DAY IT WILL NO LONGER BE PEGGED! ?????

I hope that it dose hit $1 but all the bankers that I've talked too still say they just can't see it on cash with a face value of 25,000 .thay all say that would be unprecedented for that to happen and would be the first time in history and probably the last

even when they pulled the large notes in America they discontinued them years in advance .(to have enough money to afford to buy them back (the $100,000 and the $50,000)

Edited December 11, 2011 by randalln

[lakeliving]

From my understanding Randalln probably has close to $250,000 worth of Dinar!

Also, he purchased it years ago for extremely cheap compared to what most of us payed.

He sold to prove a point to a friend, then decided to share his story here with us.

**The Dinar is a pegged currency, but won't be for long. Isn't this the reason why you are here, HOPING THAT ONE DAY IT WILL NO LONGER BE PEGGED! ?????

I believe in this investment but I don't believe anyone should take this thread seriously. No bank manager knows what's going to happen at the beginning of the year. This is ABSOLUTELY a rumor...maybe an opinion at best.