Truck and Barter

Is that historical or implied volatility?

The CPA doesn't see fit to tell us anything useful about the source. I am 99% certain that this volatility--NOT implied volatility, simply because 1) the raw data are available to the CPA, 2) I can't see the CPA discussing options at this point.

Also, I gather that the settlement price volatility is derived from actual historical data, though I would have less confidence in the consistency of the street price data.

But can anybody profit off of this knowledge?

eurusd vols are around 10, currently. So I seriously doubt usdnid is less than 2.

No banks outside iraq trade nid currently, I think. Maybe a mideast bank, or even Citi in Bahrain might get you some.

Its a ccy backed by oil (loosely) with nil liquidity. If you can get some you can sit on it till liquidity returns. With the greater liquidity should come appreciation. Risks on down side are known, but you'd probably buying close to the bottom.

I purchased 1,000,000 of the new Dinar just prior to heading home from Kuwait. It cost $250 Kuwaiti Dinar - which was about $820 US Dollars. The purchase was made at the exchange bank inside the KCIA (Kuwait City International Airport).
A friend of mine who was in Baghdad and unable to make the transaction spent $1,200 later while in the US through a Jordanian connection. The currency was verified as authenticate by a US bank.
I know nine other people who purchased 1 - 3 million Iraqi Dinar, and we're all soldiers. We knew the risks in spending the money, but the opportunity outweighs the risk.

The CPA can say what they want, but it will be the Iraqis who decide how their economy performs, not the US, the UN or any provisional government.

I am in Kuwait and yes, a whole bunch of people are speculating on the Dinar, myself included.

Everyone here is speculating that it will open on the world market after the 30th of June.

But no one can explain just what "world market" means. some say it will open at $1/dinar. Lots of dreams here. One thing is for certain: if its worth 1o cents July 1, there will be a whole lot of jobs at Halliburton.

Any info would be welcome.

Dear
As the new government in iraq will taking over the charge on 30th june. When will the exchane value of new iraqi dinar will be fixed
Thanks
Arshad

Like "grant" says its all about arbitrage. As the market open up, there will be more liquidity and the international demand (which is still unmet) will push the IQD higher. I read about this in a forum:
http://www.portaliraq.com/forum/showthread.php?t=28

Arshad,

I believe that the exchange rate will NOT be fixed to the American dollar. Instead it will float on the international currency markets. The Iraqi Central Bank doesn't seem to be in a position to "defend" the currency, which would be necessary to keep the exchange rate fixed, however I'm no expert.

I am the proud owner of over a million Iraqi Dinar, as are many of the friends I am serving with here in Kuwait/Iraq. We have gotten our dinar from a variety of currency exchanges at varied prices (average around 1430:1). Most of us are refraining from a tendency to dream, because a big pay off seems too much to hope for. However, it's a small investment for what could possibly turn out to be a large pay off...over time. I keep encouraging our young friends NOT to cash in at the first sign of growth, but to hang on to it for awhile to see where it will go. From all the reading I have done, it seems unlikely that the dinar will be available at this rate for much longer, and possibly never again. With any luck! If you have a few hundred bucks to toss at a gamble, you probably won't lose anything. The chances of the dinar being worth less than it is now, once sanctions have been lifted and soverignty exchanged, is fairly unlikely. Their is a lot of interest in helping Iraq recover. And, with the cost in lives and money that have been paid for this recovery, I don't think the U.S., UN and Coalition countries will just back off and see it all fall apart. Iraq is obviously not in the same position as Kuwait or Saudi. So, to expect the IQD to reach the same exchange rate as in those countries is not realistic. However...it is possible to believe that it could reach at least a 1 for 1 exchange ratio. The fact is that at this point I don't think anyone really knows. So, if you can't afford to take the risk, don't. But if you can...there are few gambles that have as much potential as this one. Good luck!

1 to 1 seems extraordinarily unlikely to me.

In fact, that the current exchange rate has been stable for months around 1430 to 1 means that currency traders themselves don't think 1 to 1 is feasible or at all likely, or they would have long ago bought up all the dinar they could find, and would be sitting on a mountain of paper. Such purchases would have driven up the Dinar price (lowering the number of Dinars per Dollar) on the street.

Don't you find it strange that Iraqis who are currently paid the equivalent of $20 a month will suddenly be earning the equivalent of $28,000 a month?

What am I missing here?

i Just got 2 million iraqi dinars this week, the reson was that when iraqi transfere authority in june 30 the iraqi dinar may go skyrocket in the markit .. just i love that feeling of future woundering . luck for all

I am speculating the 1:1 based solely on what I have learned about Iraq's past economy,their potential wealth, the wealth of a nation that was horded by one evil regime for many years, the export of oil, natural gas, ag-products, and first hand observation of the good things happening in Iraq that you don't see on the news. There's absolutely nothing scientific about my speculation. Question: Why was the Iraqi Dinar worth 3.35 (IQD) to 1 USD prior to the gulf war? Though the folks in Iraq have been oppressed for many years, they are hungry for a better life, and are seeing the opportunities themselves. Like I said, it's worth the gamble. I may be really wrong. I still think it's worth a small investment...if one can afford it. I wouldn't sell the farm. Again...good luck to those who have invested.

Kevin, as I reread your question, I am curious how you calculate the $20.00 income to become $28,000 income per month at a 1:1 exchange. What am I missing? If the dinar reaches 1:1, then the dinar is equal to the value of a dollar, and no longer 1465:1. If someone is being paid $20.00/month now, at the current rate of exchange, they would have approximately 28,000 IQD/month. If the 1:1 ratio should occur, the same Iraqi, being paid in dinar, will still be making the equivalent of $20.00 USD per/month. At a 1:1, if the Iraqi took their $20.00 bill to an exchange, they would receive 20 dinar, right? However, if I am sitting on over a million dinar now, that I have paid a thousand dollars for, and it reaches a 1:1, obviously I have increased my wealth. I must be missing something, and may feel foolish once you explain it, but I'm into collecting the pros and cons on this subject. I value your input. I agree that a 1:1 may seem a bit optimistic, but it used to be 3.35 (IQD) to 1 USD, and that was under a government that served a few, not a whole nation. Thanks for your insight.

U.S. banks will not immediatly recognize dinar on June 30th. When they do it will be when Iraq begins to build liquidity and should be in the 1640:1 range. Opening any higher that that would risk Iraq's new central bank into bankruptcy. This dinar is a long term appreciation thing. I bought 4 mil @ $4,690. Probably could have found a better deal if I searched a little more but the notes were pristine and genuine. I'm just happy I got in reasonably low. There must be five pages of dinars for auction on ebay right now. People are trying to recoup thier initial investment and have a few dinar to sit on for the future. July 1st will be the telltale of what we can expect on our investments. I predict the ID will drop marginally July 1st and that will be the time to buy a lot more. Real returns shouldn't be expected before 3 years. Just be patient, we will all be pleasantly rewarded.

Chris,

You're right--if people are paid in dollars. But in private transactions, Iraqis pay each other in Dinar. Suddenly, an Iraqi paid $20 a month in Dinar (~D28,000) now makes $28,000 a month, because he takes his D28,000 to the exchange and receives $28,000.

This is my disbelief about 1:1.

I don't think the dinar is going to take that long to reach its full potential based on research I did on Kuwait. After the invasion by Iraq the Kuwaiti dinar went WAY low. Then the retreating Iraqi army blew all the oil wells. After the US freed Kuwait the dinar made a STEEP climb back to the pre-invasion levels. I believe that once Iraq establishes security and starts pumping oil, the Iraqi dinar will climb as well.

I am responding to the many posts above in general.
I paid $690 US Dollars 2 nites ago fora million IQD. I bought from the moneychangers in Kuwait.
(email me if you want to know where).
The old Iraqi Dinar was worth $3.30 or so in around 1989 before sanctions, ect. Why under such a repressive regime? Well, for one, there was order, however brutal under Saddam.
Will it pay off soon? I dont think so. Its a long term bet. My outlook is 10-20 years. If the currency even holds. If the insurgency continus and succeds in keeping foerign banks out there isnt much hope.
On the other hand, Iraq has plenty of oil and another resource perhaps just as valuable here in this part of the world: WATER. They could very well become the breadbasket of the region If they develop their agricultural potental. They could learn a whole lot about making the desert bloom from their cousins in a tiny little strip of desert on the medittranian. Fat chance of that happening though. They are also a leader in exporting dates. Tourism is another big possibility. This is the land of the bible as well. They also have a very rich heratige and are a very proud people historically this tends to self perpetuate.
Lots of possibilities.
I know several people who have over $20,000 tied up in IQD. They bought it at about $300/million.

Some think it will spike upon opening for trading and drop again. Who really knows?

Sure is an exciting time to be here in the region.

This article is interesting:http://quote.bloomberg.com/apps/news?pid=10000039&sid=apYBqZtEXyyw&refer=columnist_derosa

Hey guys,

Think of it this way. If the dinar gets to a value of $.01, and you bought 2 million, sell half($10,000), and sit on the rest. You've made nearly 5 times your original investment (assuming $2500 for 2 million dinar), and will still have the ability to wait and see

Kevin, I see where you are coming from. I guess if the dinar would reach a point where it were equal to the USD, then perhaps 28K a year for an Iraqi citizen/employee might be a reasonable wage. It would certainly indicate a more stable, productive Iraq. I agree that it seems unlikely. Urrrgghhh. I am not one to fall for get-rich-quick thinking, but this opportunity (if it is that)has me thinking that if ever MY ship were to come in, that this might be it...over time. I also do not believe it will skyrocket...or that Iraq will be a bread basket...any time soon. I am patient. Thanks again for your input.

I'm new to this forum, and thank god i found it. I've been looking for some info on the Dinar that i bought over here in Iraq. I was told about all its possibilities by the people that are buying it the most, the KBR employees, civilain workers. Apparently if the value skyrockets, about 3/4 of all KBR employees are getting out. That may hurt a little for all the troops over here, but most of us have also purchased some, and are very skeptical about its possibilities. This stuff is all over Iraq, just about every Iraqi is trying to sell us some. In fact, I'll be suprised when i see Iraqi's using this currency for trade, they still value the US dollar very very much.
Lcpl Vinnie O. , USMC

Please someone answer me this, What is to stop the Iraqi government from bringing in a new currency? Is it possible to say OK for every million I will give you back 500? I don't know, i am just like everyone else who bought the Dinar, i like to gamble and thought the rewards would outway the risk but now a days with so many people buying it I am some what pesimistic. I mean can you imagine the company i work for has 6,000 employees and i guarantee 5,000 of them got at least a million or more, so if it hits the market at .10 to .30 on the dollar you going to have 5,000 people on the way home. that being said you lose that many people then your losing support for Iraq which could start a downfall on the market again. There is so many ways this thing can go, I hear humors daily and it become immusing to have a new one each day.

Jason,

Nothing in the Iraqi central bank law stops a new exchange. However, it's a huge risk for the Iraqi central bank to have another "exchange" of notes (an exchange that would be impossible for Western speculators no longer in the region, who'd have to deal with middlemen).

The Iraqi CB has developed a decent (though not exceptional) level of confidence that their currency won't be subject to abuse--like a hyperinflation.

Vinnie's comment about Iraqis trusting the dollar is important; most developing nations use the dollar of euro as a hedge against the stupidity or venality of those who run their domestic currencies.

Personally, I don't think another exchange or even mismanagement is likely, given what I know about the head of the Iraqi central bank Sinan Shabibi. He's Western educated and has sound ideas on how to develop trust in a currency.

http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=270766&lastpage=1

If you folks haven't found this chat (thread) room about the dinar, it is worth checking out. If you can weed through the personal attacks to extract the morsels of intelligent knowledge bites, you might be able to further explore your own questions. Honestly, these people are taking things too seriously. It's a gamble. That's it. Either something good will happen, or we end up with some really fun stocking stuffers. Continued good luck. I have my eye on a new Corvette when I get back to the states. LOL --Chris

In case anyone asks, if you want to take currency back to the states, and it is equal to or less than $10,000.00 US dollars, you don't have to declare it through customs. Any currency valuing 10K or more will have to be declared. I don't advocate hiding it to avoid customs.

What about taxes on the increased value? What if my 1000 dollars turns into 100,000 dollars. What about the other 99,000 dollars?

If it costs an Iraqi 45,000 dinar to buy a pair of shoes, all he has is a pair of shoes. Just because you have millions and millions of dinar does not make you rich when it isn't worth the paper it is printed on

Why I think the Dinar must return to prewar value of $.33.

This is an example of a man in Iraq that had one million Dinar before the second war.

Compared to the American dollar he would have $330,000.00 which would make him a very wealthy man in Iraq. When the war started the currency was rendered worthless because the country was under control by an outside power. ( The hand over of power back to Iraq is due to happen June 30th ) This man exchanged his one million old dinar for one million new dinar with the assumption that this currency would be at the value it was when the war started. This man still has one million Dinar but now it is worth $830.00 American Dollars right now. You have now taken every wealthy, successful business man, and destroyed everything he has worked for his whole life. How can the world expect this country to make it at all if the Iraqi Dinar does not open at prewar values? It will defiantly fluctuate up and down depending on the countries progress. And finally if you take all of the wealthy people in the country and tell them there money is worthless, and take the poor people with very little if anything at all and tell them they have nothing. What is going on in Iraq now, will look like a walk in the park. This people will really hate Americans.

Is there any ideas out there as to how to get large amounts of Dinar into the U.S. to avoid paying large amounts of tax. If and when there is a large return?

Dan, if you're in the mideast with lots of dinar, and it becomes worth more than what you can take back without declaring it, you might have to open an international account here. Some of our KBR friends have already taken that step, optimistically assuming their dinar will be worth a lot. Here, the money won't be taxed. It has been explained to me that you don't have to pay taxes on currency when you exchange it, but it will be taxed if you put it into an American account, because you have to claim it as income when you file your taxes. There are experts out there on this...but I am not one of them. I know that if my dinar makes me rich, I will be opening an account here. I hope it's a problem I have to deal with! I would like to hear from an expert on this, too. Good luck!

OK..its almost crunch time for this dinar thing. I am currently deployed with the USAF in Iraq, and alot of people are talking (particulary KBR) how well this dinar is going to do. "Doing well" to me is just hitting .50 cents. However, while I am hear in Iraq, I have been speaking to the Iraqis and they tell me that they dont think it will even open at .30 cents. They actually believe that the dinar won't move at all. As, I dont want to believe these people, their credentials speak for themselves...Bankers from the Iraqi Bank!!! I know that I am going to hold out at a million of this dinar, but I am just interested as to what people int he states have to say about this whole thing.

i have bought 13 million dinar at $850 per million $11,050 u.s dollars worth, they way i see it i will sit on it for a min of 2 years, and hope hope hope. either i will regret buying them, or i will regret not buying more...i sure hope it's the latter

hi,
would you tell me that in how many days the iraqi dinar rate will up. if you don't mind please infrom me by mail. thanx

A few things. On taxes, to the best of my understanding, If you are a US citizen you must report all income from overseas weather its a business, capital gain, ect. or risk losing your citizenship. Ill look for an IRS link on this.
Me, Ill pay taxes.
Second, the latest rumor is that the Dinar must open at prewar levels. This is reported to come from a World Bank webpage but I cant confirm.

Some people are saying that it will open at that level for 48 hours each side of the turnover date. Again, I cant confirm.

Cris, I hope that you just have to deal with it. I hope the same for myself. Not really sure just where to cash in over here if it does come out running. I'm setting about 2 days from anywhere. Which makes me frown when I read Davids post on 48 hours + -. Guess I would point towards Europe. Any thoughts

I was told by a very reliable source in Kuwait, that a KBR employee, went through the airport at kuwait and had 10 mil iraqi dinar that he did not claim. Kuwaiti customs took his dinar, and gave him $38,000 worth of kuwaiti money in exchange. Why would they do that if the dinar was not going to be worth anything in the near future? He made out for now, but long term he got screwed.

Hey, I bought 250,000 iraqi dinar while overseas in kuwait for $200 dollars. If and when this hit the "world market" where can I cash this into US dollars?

Even if the ID goes up to .10c p/d (hell even .01), it will still make me happy. Thats still a pretty good return on your initial investment.

I have couple question i need some help with them. 1) Is iraqi dinar already Opened in Marke yet. 2) on July 1 how can i see the change in the Rate . can you guied me in a good site .

another Qustion how come Iraqi dinar was fixed at this rate 1 (US) = 1455 (IQD). I hope not move up and down you son of bitch.

Iraq took over it's government today! Two days early. Let's see what happens soon.

i need to know a site that tells me the exchange rate for iraqi dinar in real time if possible this is very very very important

It's super important to me too!! I'm trying to get my husband home from Iraq. I've got my fingers crossed that this pans out. We plan on exhanging half and sitting on the rest.

type "iraqi dinar exchange rate" into a search engine like google or yahoo.

it will take time for things to get set up ... that's just reality.

The World Bank has not yet moved into Iraq. The currency will not be on the market until the World Bank is in place. WB is expected to be there by the end of July. At that time, the Iraqi Central Bank (ICB) will have to show the WB that they are ready to meet demand. The International Monetary Fund (IMF) is also scheduled to enter Iraq to start work on the Iraqi Stock Exchange.

This is going to be a long process people. I would think by September, the ICB and WB should have all the bugs worked out. Budgets must also be finalized before the release.

The NID will more than likely start at where it was stopped, at about $0.33/usd. There will be a large volume of selling and buying, so expect the price to rise briskly and then settle back down, about 30 days after it opens.

As sanctions are lifted and more oil is pumped, the funds will start coming in and their economy will grow. This will be a long process, 2-3 years is a good number to look at for this investment.

You cannot compare this to Kuwait, as Kuwait still had it's original structure to go back to so recovery was rather easy. Iraq however, is getting all new leaders, ministers, councils. Their whole infrastructure is being rebuilt. This will not be an overnight success.

The Iraqi people will start seeing improvements within a year and then will start having faith in the new system. The Iraqi people are solid, and they will get through this and will be delighted once they have put this behind them. They will flourish like never before.

I'm excited to see what the new Iraq is capable of!!

My husband is in Iraq and has sent me some dinar. I live in Canada and I have no idea what to do with it when it is possible to exchange it. Do you have any ideas where I can find out?

I also purchased dinar in Iraq while working for KBR. A little over 7 million. I found a Coalition Provisional Authority site that was linked to a Central Bank of Iraq site that had an exchange table on it that showed every days rate since the 1st of the year. The address was www.iraqcoalition.org-fx_tables.xls I hope this is a useful site for everyone. It may not be the best site, but it's somewhere to start. And since it's from Iraq's bank, it should be the proverbial horses mouth...I hope.

Is there anyway to get Dinar to the u.s for around the exchange rate? 1,300 per million is rape.

i am a marine in iraq and i was wondering if you have any up to date sites that have the currency of the dinar and if you could send them to me thanks

In my opinion New Iraqi Dinar will be fixed not more than US$1000 = 1 Million Dinar.

The main reason is that, many people invested in NID which goes in trillions. So, if 1 NID = US$0.5 then this will quite a huge amount which cannot be accumulated.

In fact, there is a huge chance that New Iraqi Government will again change new dinar and re-fix its rate at 1 NID = 1 US$. And a big chance that currently new iraqi dinar will again replace with 1000 dinar to 100 or 50 New Iraqi Dinar.

ASIAN RESEARCH DEPARTMENT.

Irum, how can this be? Do you say everyone in Iraq who had to equalivant of 10,000 dollars will now only has the equalivant of 500 dollars since the coalition forces liberated them? This does not sound like a good plan to me.

Where oh where can I cash in my dinars? Where oh where can I get my money after it opens on the market of course? Also, how are we going to know when it opens on the market anyway?

I have purchased almost 3 million NID, some from Iraqis and some from online. I was very worried that I would not be able to exchange them back to dollars. This morning I visited HSBC and they will exchange them however you need an account with them. I sill have not figured out about taxes and other things like that. Anyone have some info about that?

The best Place to keep track in Iraqi Dinare Rate either In life channels , example arabian CNBC financial news (MiddelEast) , 24 hr or Yahoo financhial try this URl http://finance.yahoo.com/currency?u (website)

Greetings. I have been tracking the dinar on oanda.com and this company reports an average of 100k dinar is equal to 335k USD. I contacted their customer service department and it they report that it is a correct quote, but it seems unlikely to me. Does anyone know whether they are perhaps assuming this on the Kuwait currency. It has actually fluctuated down 5K and back over the last 2 weeks. Give me some insight to this, does anyone know if this is a credible comp? Thanx.

this is an investment ... it will take time ... this is an investment ... much better than wasting money on a michael moore crocumentary ... this is an investment ... this is an investment ... infrastructure takes time to build ... infrastracture takes time to build ... will you be a us$ multi-millionaire overnight ... maybe not, but you have to look at this as an investment compared to other investments like a large cap mutual fund or bonds or real estate. maybe we don't become multi millionaires because of our purchases in dinars ... but maybe it will be better than if we took that same money and bought a vanguard or fidelity mutual fund. well, at the very least, my landlord is painting my apartment next week and at worst i'll have some interesting wall paper :-)

I have also been looking at the oanda.com web site and can't fiqure it out. I would love to know what's up with that. Also, when I go to the yahoo site. The most current date it gives me is June 14th. Anybody else?

i wish we could have that web site that was designed only for latest news of IQD , cause most of those sites that say alot of good stuff about IQD make you buy more and more at the end those people trying to sell IQD inorder to make alote of dollars for small investors like us in addition to that what we have seen the IQD is tabbel for the last 3 monthes. bdb i think you are right its long term investment it won't produce a good results in the short run. some people where talking about Kwiti dinar but what about the lebanies liyra after the war stopped over there we haven't seen any improvment in the currency and know people there are using dollar instade .. umm i hope it won't be the same cause the Oil that Iraq has and that is the different.

I called an International bank in Oklahoma and was told that they will not exchange Iraqi dinars and wasn't sure when or if they would. I have not been able to find a bank in the US that would but that also could be because I don't really know where to look. I also am confused about taxes. Do you only have to pay taxes on it once it has been exchanged to US dollars? I AM SO CONFUSED!!!!!! Anyone with answers (FACTS) please, please,please respond!!

You Guys gonna cry after your ¨"investments" in NIQD. IMF will never accept to clean the debts of Iraq, the religeous tribes gonna make civil war and only the iraqi market will work in Dollars, so.... sleep good tender babies...

Alan IMF you might be right but today the second day and we haven't seen any thing happened yet its smooth down there , Ir01 am supprised in Oklahoma they don't exchange Iraqi dinar !! I am from Qatar and i can buy Iraqi dinar and sell them acording to the world markit Rate at any exchange store and listen to this free of taxes . But i think what you have to do if you got a big profit come to Iraq and cash them.

you are having trouble finding banks to exchange the NID because it isnt on the open exchange market yet. it will be in a few months, i would surmise

Alan, the debts to the IMF are being analized and will be lowered after a meeting of the G-8. 67% to 95% of the debt could be wiped out.

The IMF is not the "say all" of the financial world. It's a political structure that uses creditors world wide to fund it's projects. If the G-8 picks a number, IMF will apply it, and then the IMF will work with Iraq on a micoeconomic plan. Stability will come in time and then it will be you crying for not having invested in the future of Iraq.

I've seen oanda.com also...I only wish that it was true. Anybody know why it's like that?

I had just purchased a very small amount of dinar almost 100,000, which ran me about $80. The reason I didn't spend $500 or any more is becuase im worried about the current dinar just being script money. Just like previous comments people are saying that this is an investment, and it takes time. But if the dinar changes and the current dinar is just as worthless as saddams dinar the investment is shot. What guarantee do I have that the dinar will not change. The reason I am asking is becuase the dinar CASH is made in the UK and the States, 3-5-10 years from now if Iraq is stable they might be actuually making their own money. If thats the case who is to say they wont change the dinar cash to something completely different. Rendering ours worthless

For those of you who are asking about the OANDA Dinar pricing...It's showing pre-Desert Storm values which is why it's so high. Now, read carefully. If you want to know the "current" exchange rate on the Dinar, here's what to do. First, go to the "horses mouth" so to speak. That would be the Central Bank of Iraq. How do you get there you ask? www.iraqcoalition.org then scroll down the links on the RIGHT side to dinar exchange rate. Click on it. then the banks site comes up and click on exchange rate again. this will take you to a table showing you every days exchange rate this year to date. So far, the only place/person I have found stateside that will be a contact for the exchange back to dollars is one of the brokers that's selling them. I'm going to be contacting banks down in the Cayman Islands and Bahamas since they routinely deal in International currencies and see what I can find out. I wuold suggest that any of you who are truly serious about thier Dinar do the same. Don't wait for answers to come to you. Get out there on the web and research,research,research!!

Just so all of you know on the world market all oil is traded in dollars only. That right no yen euro or dinars. So if you expect to make any money or break even just remember that Iraq will have to sell billions of barrels of oil to even get a halfway decent exchage rate anytime soon. That is only if the currency is based on oil. Which we all know US is the biggest comsumer. right now the money is like ours backed by the full faith of the govt. Until the new govt has a handle on things don't expect millions to come you way.

currently has of today the iraq dinar is worth 1460 to 1 u.s dollar so if you have a 25,000 dinar note just divide 25,000 dinars by 1460 you get $17.12 i know this cause i have tons of family in iraq and i currently own 10 million dinars i bought them very cheap back when for 1 u.s dollar you would get 4000 dinars..now for 1 u.s dollar you get 1460 dinars.if anything big happens in the price i will post.

John- I followed your instructions about going to the iraq coalition web site but could only find up to date exchange rates as of the 27th of June and not for the last 2 days- am I missing something! Thanks

i would just like to say that this site has been a big help to, i most of us for learning about where we spent our money at. I only spent $250 but my whole family spent bout $4,000. my belief is when we return hussein the nid will go up in conversion price, just my gut feeling, i guess will find out soon if it'll spike or be long term, lets all hope for the best.

from what i've been able to research, the alan greenspan like guy in iraq (don't recall his name) is in europe meeting with other central bankers ... bringing a currency, or to be more clear, an entire economy, back into the world economy is not something you do with the flick of a switch. it's international agreements (e.g. legal contracts), it's infrastructure (e.g., people and information systems).

it's like if you find oil in the ground you can't use it in a car right away ... it has to be refined / processed ... that's something that takes a while, especially if you don't have the pumps or the infrastructure to handle it.

microsoft didn't make it's early investors multi-millionaires (or billionaires in some cases) in a day. neither did ibm or wal-mart.

HSBC, Standard Chartered, and another bank have permission to set up operations to trade the dinar. Having permission and being able to implement the trade are separate things. Getting a piece of paper signed that says "You can do X, Y, and Z" doesn't take very long. Being able to do X, Y, and Z on the other hand, take some time.

well, now i'm off to bed (in eastern part of u.s.).

oh yeah, and about taxes ... i don't know as i'm not an accountant but my guess is that it's like any other investment (long or short) and that it will be taxed. and then of course if shillary has her way "We're going to take things away from you on behalf of the common good."

http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2004/06/28/politics2039EDT0165.DTL&type=printable

i have been reading the postings on this site and alot of ppl want to know what the deal about taking IQD back to the states in large amounts. well the thing is u can only take back $10,000 USD or an equavalent of that in IQD.

whom to trust The coalition site or The world Market I know Its littel difference but contradetion in coalition web site it says NID = 1460 to 1 UD while in mostPlaces it says NID = 1455 to 1 UD !! that is weard .

How much IQD can you take from the US to Iraq to cash in? I should be over there in a few months and hopefully that will be the best place to make a return. The only problem will be walking around with a lot of USD. Is there a way to send cash back to the US to deposit?

I called the phone# for listed at oanda.com this morning 6/29/04 and asked if the FXconverter on their site was correct for Iraqi donar to US$. He said it was not. I then asked him if he knew what the exchange rate was...he said it was 1600 to 1 US$. I'm not sure if that's true but he said that came from the Bank of Iraq. I hope that's not true because that means I paid twice as much for my Dinar then it worth today.
Anyone know what the rate really is? Every converter I check on the web gives different rates.

SJW 1600 is too much for iraqi the exchange down here where do i live its 1455. They are to make mony out of it

abdullah I'm new at all of this. If I have 1,000,000 IQD how much is that worth in USD? Do I divide 1,000,000 by 1455 to get the exchange rate?

SJW no problem bro
to begin with , the Official exchange rate is 1 USD = 1455 Iraqi dinar . so if we divided 1000,000/1455 = 687.29 after rounding that means each $687.29 = 1000,000 Iraqi dinar and that should be the Official figure . beside that it's rep off.

I agree that they would have to release lower denominations as the price of the Dinar rises. I just hope that they don't eleminate the 25,000 Dinar note. But I think they will have to. What good is a bill that is valued between $7,500 (at $.30 per dinar) and $75,000 (at $3.00 per Dinar)?

I hope if they eleminate the 25,000 ID note they will do it by gradual replacement much like the US replaces worn out bills.

Where can i obtain todays exchange rate?

you guys are making me start to sweat having the 25,000 dinar notes. i should have purchased some 5,000 dinar notes (i had a chance to), but didnt.

i guess we just have to keep up on the currency situation and get rid of them if need be when the time comes.

Jose, this is one of the better exchange rate sites I have found on the web. Yahoo also has one. There has been no movement on the dinar. In fact, it doesn't appear that any calculations have been made since around 14 June. You can also go to the U.S. Treasury web site and access current exchange rates there. Today, they still listed the dinar at 1421...lower than most of the other sites. If you follow the link I attached, you will be able to stay up on the rates. Good luck my friend.

http://fxtop.com/en/cnvhisto.php3?A=1%2C124%2C500&C1=IQD&C2=USD&DD=18&MM=06&YYYY=2004&B=1&P=&I=1&btnOK=Go%21

OANADA FINALLY UPDATED THERE EXCHANGE RATES HAS OF THIS MORNING SO NO MORE CRY'S HAS TO WHAT ITS WORTH AND WHERE TO LOOK GO TO THERE WEBSITE!!

If the 25K note is to be removed, they will probably start by not minting any more of them and let them gradually disappear. They are the most expensive of the notes to make, but are very secure.

As far as minting bills, they are currently made outside of Iraq at 6 different locations. Once the Central Bank has a handle on things, the plates will all be sent to Iraq and they will be the only minters of their dinar, unless of course they want to out-source the minting for a few years.

I don't see the dinar as being a "script", even though they call them Bremmer Dinars, it was the council that picked the designs (which are pretty much the same as the old ones). Iraq needs to build credibility and replacing the dinars again woudl be a big mistake. The logistics are enormous and costly. I think they will stay with these as they are a much better quality and have security. I just don't think that they will keep the 25K notes. I think they will stop minting them and then banks will keep them as they pass through to take them out of circulation.

shelley...yes I too noticed that the Central Bank of Iraq site hasn't updated since the 27th. Might have something to do with the gov. handover. I' just keep an eye on it a couple times a day and see what happens. But at least it's still probably the most comprehensive site for tracking what it does so far. Like most, I expect this to be a slow process but in the long run, worth the wait.

if what oanda.com says about the worth of my NID is correct, i'm just gonna use it for monopoly money

To All--The Economist Economic Unit is predicting the NID:$ rate to strengthen, barring any unforseen circumstances, to around 900:1 in '04-'05. Personally, any money made over and above my initial investment is gravy; to think otherwise could be dangerous and perhaps delusional. We all need to be realistic about this. Hopeful is one thing; realistic another. But then again, its fun to dream a little! Oh yeah, the inter-change of ideas and/or comments and info on this site is excellent. Thanks to all for your insight!

My hopeful friends, I saw an uplifting mention in an MSNBC news article on the new Iraqi government. They mentioned, almost as an aside, that the new Iraqi Dinar moved slightly up against the dollar yesterday. Hang in there folks, although there may be some short term gains this year (Sept.'04), the real return will be long term (2-5 yrs).
The real hope for us is that the Iraqi's wealth will be restored to them by the CBI at the pre-war level of .31USD to 1NID, once the currency is released to local banks worldwide.

MAX what they have said about The dinar , i tried oanda.com but nothing regarding iraqi dinar, can mention the link to that artical i will be thank full.

Question for All -

So, has anyone read anything official or found any reliable information on when the ban on exchanging Iraqi dinar for US dollars at commercial banks within the US and Canada (and many other countries in Europe) will be lifted? I believe this is the same milestone mentioned above when the "dinar will be released to local banks worldwide". I'd imagine the interim Iraqi government and official government, which will be established following the elections scheduled for Jan. 05, will certainly want to work to remove these bans, etc. as quickly as possible to encourage integration of the Iraqi economy with the larger international economy.

Thanks, and please keep the insightful info. flowing!

Andrew

Does anybody know roughly how much Dinar was in the Iriq economy before the new dinar was printed? because if they print the same amount and redistribute it on a one to one basis I don't see any reason why it shouldn't reach at least pre war value eventually.

I wonder how much Counterfit dinar was printed. And how picky the banks are about accepting it and exchanging it for the new dinar? This certainly could affect the future value.

The Iraqi dinar yesterday(29/06/2004) was 1 USD = 1455 tody(30/06/2004) 1 USD = 1460 that i hope it won't stay like that for long period like it did with 1455 but. so it's going down agnist the dollar.

I don't know what exchange rate you are looking at or through what company, but yesterday I found the exchange to be 32 US cents to 1 Iraqi dinar. Give it more time. Once the US has established domestic relations with Iraq then you will be able to change your dianrs in the us. it may take a few months though. Or just fly to france.

Jamie the site that i pick up that latest exchange rate is http://www.portaliraq.com/iraq-dinar-report.php?PHPSESSID=be4d02ceba40003c92cdc4fedd80d653
1 USD = 1460 IQD, i know i am too hyper for iraqi dinar because this my first investment in my life beside that i bought $25,000,000 can you imagin all cash scatered in my bed room too much mony. and thats why i am too hyper so any slite change in the exchange rate will put me in bank rupcy and that's is alone not extra mony..

i ment 25,000,00 ID sorry . correctio to my prev comments

When Iraq gets stable and the world begins to except the new dinar then the exchange rate can only go up...it can't go down (i guess it could, but i don't think it will)...so the way i look at it is be patient and we will get some kind of pay off, big or small, we'll get something. just be patient my friends!!!

Abdullah

I just checked the exchange rate by putting in my total amount of dinars i have and seeing how much it would be in USD. i think the link should say something like FXCONVERTER or something like that.

http://www.oanda.com/convert/classic

here's the link abdullah

when you guys think we will be able to exchange the money for good'ol american dollars

Where can I purchase the dinar online? Are you sure the money will be authentic from these sites?

Thanks!

YOU SEEM TO BE RIGHT ON WITH THE VALUE BUT IF YOU LOOK AT OTHER WEB SITES, LIKE DAY STAR TRADING, HE HAS THE VALUE WAY LOW.
STILL PEOPLE ARE BUY DINARS IN BUNCHES.
I THINK WHAT THE REAL QUESTION WOULD BE IS WHEN WILL IT START BEING TRADED ON THE OPEN MARKET AND FOR WHAT PRICE?

purschase from ebay look for 2 main sellers on called dima89 and one called j.b trader those are the 2 biggest dinar sellers online one even has his phone number if you have any questions

ok MAX that what http://www.oanda.com/convert/classic says
1 US Dollar = 1,460.00 Iraqi Dinar
1 Iraqi Dinar (IQD) = 0.0006849 US Dollar

so lets do more calculation if we ultiply both sides with 1000,0000 we will end up with -->
1000000 * 1 Iraqi Dinar = 1000000 * 0.0006849 what we get is

1000,000 Iraqi Dinar = 684.9 USD

if i did understand you Max.

keep in mind before this war some 460 days ago that 1,000,000 dinars would have been worth $330,000 lol

by the way you guys wana know whats going on day to day in iraq wheather is reconstruction of something finanacial wise? go here

http://www.rebuild-iraq-expo.com/news.asp

To answer the question about taxes on IQDs: Your IQDs represent wealth, not income. The US has an INCOME tax--there's no such thing as a wealth tax. So, if you hold on to your IQDs and let them appreciate in value for an interim period, you won't have to pay any taxes on them until you exchange them for US dollars (just like selling shares of stock). Note: I double-checked on this with an IRS agent before I wrote this.

by the way dont forget once the dinar is welcomed on the market you can also exchange them at your local currency exchange doesnt have to be a bank

i have done homework like will and he is right. my bank also has a in house currency exchange that will exchange them (as long as they dont come back counterfeit) in house to us dollars. you are responsible for reporting the amount you make. the bank only reprts the exchange of currency. there are also many overseas accounts that will except the currency and are paying good interest (tax free) for your money. there are many on the internet but as with evertything else do your research first. there are many scammers out there. also a sidebar swiss bank accounts are not as good as they was were since 9-11. the better choices i have found are in austria or lichenstein. good luck

wow the NID has went up since i bought it. I paid $150 for a mil two days after it came out and already its worth over $600.

Getting over on taxes can be easy. Open an account at a bank inthe middle east (www.nbk.com) and when the ID hits the market and your ready to exchange let the bank exchange it and you will have a ATM card full of money.

I really dont care if its nextweek ortomorrow when the money is worth alot. it is a small investment that i have the opertunity to capitolize on if it works out in my favor it does.. if not then not... anyone play the lottery??? over a period of time have you spent at least $150. ??? get my point. if its not for my future then it wll be for my childrens!!!

have a great day boys... Go Iraq its your country!!!

Doesn't the Bank of Kuwait have a bank location in New York City?

Thanks tony for that great site. http://www.rebuild-iraq-expo.com/news.asp

no problem

Does this have anything to do with capital gains???

Here is a calculation..... once old dinar that is saddam dinar exchanged (15th Jan 04) it was 1 old dinar equals 1 new iqd and 1 swiss iqd which was quoted as 33 cents at oanda was exchanged for 1 swiss iqd equals 150 NIQD.....now replace the one swiss iqd with 33 cents..... it will be 33 cents = 150 NIQD therefore NIQD 0.22 cents.... i think this will be the opening value of NIQD.......any comments

Rizwan the problem not the calculation you might be right or wrong but the big 'O question is when is the Opening day !!!!!

Hi gals/guys,

The New Iraqi Government is in consideration to introducing again NEW DINAR.

The Dinars print by DeLaura would becomes CANCELLED.

However, there is no such information we have that the Government will exchange upcoming currency with DeLaura's money or not.

If NOT, then all people may be in trouble.

IRUM ALI KHAN
ASIAN RESEARCH DEPARTMENT

Well, someone better tell the Central Bank of Iraq because I have been in constant contact with them and several other banks in Iraq and all of them said the Bremer dinar is here to stay!

I'm not a currency expert, but what are the chance's of changing the dinar's face value. Kuwait's largest bill is like 500 dinar. Seem's insane to have a 25000 dinar note that when the exchange rate hits at let's say 1USD which would be equal to $25,000 USD. That's unheard of isn't it?
I suspect either new denominations will be printed or the .31USD exchange rate is very optimistic and realistically it may only hit at at .03USD.

Just a little nervous before I begin investing more money. The more we know about the history of currency the better we'll have an idea as to where it's headed.

Any thoughts?

I doubt the new leadership will change the dinar again. It costs a lot of money to do that. If they do in the future, they will probably do it like we did with the new $20's, gradually phase out the other ones. Iraq needs to show the world that they are stable. Changing the dinar again would hinder that.

The outside contractors printing the Dinars have to give the plates to the ICB as soon as they are ready to take over printing, this was part of their contract. The new bills are tougher than the old ones, the old dinar ripped very easy and was lucky to hold up for 1 year. The Iraqi governing body picked the designs, not Bremmer and the Central Bank is very happy with the durability of the new bills. I doubt they will move from them any time soon.

As the NID increases in value, I think you will see a phased removal of the 25K and maybe the 10K notes. I think they should have made a 500 and a 2000 instead of those two. I'm not sure what they are doing for coinage, but they will need something to cover the 5 and 1 increments.

Many have emailed me reguarding my post several days ago about Dinars for about $690.00. Heres the address of one of the exchanges I use in Kuwait:

Al-Ekasad United Echange Company
Makka Street Branch No.3
Salman Al-Dabous Bldg. Shop #5
P.O. Box: 437 Souk Dakheli
Code# 15255
Fahaheel, Kuwait

Telephone# 39281 45/3921 390
I took this information directly from the reciept. So I would call for the exact mailing address.

Let us know what prices are current.

I have a contact in Jordan who is very flexible and competitive with his rates. Go to iraqpapermoney.com and leave an email that Nick sent you. Go to the "contact us" icon at the bottom right of the screen. Thanks a million.

To those people wanting to find the current exchange rate for the Iraqi Dinar. You can go to CBI's website or go to www.xe.com, select full currency converter and plug away. I have been watching it and so far in the past three days the dollar has weakened (minutely) against the NID or IQD, that could be due to the Fed's recent decision (I don't know). Yahoo's latest market rate was dated 14 June when I checked yesterday. I care not to speculate on the in's/out's of the IQD, so I won't. Just remember, the people selling the New Dinar are doing just that, selling. Therefore they will throw there "sale's pitch" at you. You never hear a car salesman say, "Wow, this is a wonderful car, it suits you great. I just want you to know that it'll probably need major service in five years when you don't expect it. And it probably won't be covered by the warranty." Use your head when you buy the Dinar. Like many other people have said, if you have the money to invest, then do it. If you don't have the money, don't try to invest and put yourself in financial trouble. Take care all. Good luck.

Guys, a request: If anyone hears of any news about the new IQD, e.g., special announcements in the media about it coming on the market and/or sees any official significant fluctuation in the value of the new IQD, e.g., rising or falling a few points, please blast it out onto this forum for everyone's benefit (probably goes without saying-hope I'm not showing my ignorance). May want to include the website from where you got the info, to include any news websites. Thanks.

Ryan-your question about capital gains: The appreciation in value of the IQD represents the capital gains. Again, the tax, i.e., the capital gains tax, you would pay on the IQD is only after you convert them to USD. Not sure what the capital gains tax is nowadays. Does anyone know ?

Jay-the National Bank of Kuwait does have a branch in NYC. Shows it on their website: www.nbk.com

I suppose then if they change the currency, then it's dependant on if it's traded in the markets at that time if we can exchange the currency local or only in Iraq.
Seems to me the only risk we're taking is whether or not this will become internationally traded currency. That's my main worry.
I think the political and social issue's will work themselves out.

David how would you call that 39281 45/3921 390
number here in the us?

TO ASIAN RESEARCH DEPARTMENT...stop spreading lies.

With that being said, I do not believe the exchange rate will be set to pre-war levels. I think a range of .01 to .05 cents is more reasonable. And even at those levels, one would stand to gain an enormous profit. I am not greedy, so I'll take a penny.

Buyer Beware - Do NOT buy from First Dinar Financial Group. Over three weeks and still no delivery!! Had to cancel and file a DISPUTE to try to get my money back.

I BELIEVE THE CAPital gain is at 28%. not sure but i've heard most of the people mentioning that.

As far as buying on ebay, DO NOT !!! i repeat again DO NOT!!! buy from this ebay seller,
omanfrankincense,,, this is his ebay name.
his email, pearlgroup@yahoo.com. he's a rip off, a scam artist.

heres something very interesting on this site it says the dinar is at 0.311181 on june 30th. heres the website:

http://www.exchangerate.com/world_rates.html?letter=I

Buyer Beware - Do NOT buy from First Dinar Financial Group. Over three weeks and still no delivery!! Had to cancel and file a DISPUTE to try to get my money back.

Why would you pay 1250 per million of dinar.. We sale them for 1140/mil an you can even find cheaper if you look around.

The Best Ebay Dinar seller is DIMA89, fast delivery and good service all around!

as far im concerned i will not buy anymore via-internet why you ask? because if you buy currency and the money increases in value, they will definetly not send you the money. So my advice is find someone locally that sells it where you can personally pickup the money yourself.

Just my opinion.

I have checked on the exchange rate for the Dinar, and Yahoo has not updated or changed the exchange rate since June 14th. It doesn't seem very up to date to me being today is the 1st of July.

dont bother with that web site exchange rate they still have the old rate where the dinar was worth $3.12 per 1 u.s dollar go to oanada its been up dated today it is still worth 1460 dinars to 1 u.s dollar.

Hi Montana -- It was less when I ordered them three weeks ago. I found a much better price from a reputable dealer and got what I needed, but still had to fight with this guy. Just a real inconvenience... Thanks!

Last month on 14/06/2004 the Iraqi dinar make very strong improvment that the exchange rate was as follows :-
1 IQD (Iraq)=0.0012 USD (United States) 1 IQD=0.00125 USD
1 USD (United States)=800.0631 IQD (Iraq)

the prev day which was the 13/06/2004 the exchange rate was as follows : -
1 IQD (Iraq)=0.0007 USD (United States) 1 IQD=0.000673 USD
1 USD (United States)=1 485.7338 IQD (Iraq)

and the day after the 14 of june which is the 15/06/2004 "da" the exchange rate was as follows :-
1 IQD (Iraq)=0.0007 USD (United States) 1 IQD=0.000675 USD
1 USD (United States)=1 481.0726 IQD (Iraq)

the summery ..
if you exchange your mony on the 14/06/2004 you could made big cash . to prove my self url http://fxtop.com/en/cnvhisto.php3?A=1%2C124%2C500&C1=IQD&C2=USD&DD=15&MM=06&YYYY=2004&B=1&P=&I=1&btnOK=Go%21

people buy Iraqi dinar Its Excellent Investment.

does anyone have a guess at when the opening day will be for the dinar to hit the world market?? will we have to wait for the world bank to get set up in iraq first?

The "Horses Mouth" for Dinar exchange rates:

http://www.iraqcoalition.org/exchange.html

Hi Mallory -- Read this the other day on an earlier blog. Makes a lot of sense compared with everything I've read in the last 6 weeks. One of the traders sites changed their "July" speculations to "November" this morning.

From Jared:
The World Bank has not yet moved into Iraq. The currency will not be on the market until the World Bank is in place. WB is expected to be there by the end of July. At that time, the Iraqi Central Bank (ICB) will have to show the WB that they are ready to meet demand. The International Monetary Fund (IMF) is also scheduled to enter Iraq to start work on the Iraqi Stock Exchange.

This is going to be a long process people. I would think by September, the ICB and WB should have all the bugs worked out. Budgets must also be finalized before the release.

The NID will more than likely start at where it was stopped, at about $0.33/usd. There will be a large volume of selling and buying, so expect the price to rise briskly and then settle back down, about 30 days after it opens.

As sanctions are lifted and more oil is pumped, the funds will start coming in and their economy will grow. This will be a long process, 2-3 years is a good number to look at for this investment.

You cannot compare this to Kuwait, as Kuwait still had it's original structure to go back to so recovery was rather easy. Iraq however, is getting all new leaders, ministers, councils. Their whole infrastructure is being rebuilt. This will not be an overnight success.

The Iraqi people will start seeing improvements within a year and then will start having faith in the new system. The Iraqi people are solid, and they will get through this and will be delighted once they have put this behind them. They will flourish like never before.

I'm excited to see what the new Iraq is capable of!!

thanks m&m

M&M:
That sounds like a good, sound analysis. I'll keep that in mind....Thanks.

has i read that website i posted and knowing that iraq is the #2 richest country in the world with oil i cant help but imagine within 5 years time 1 iraq dinar will be worth no less then $4 u.s its not im possiable it was once $3.35 and i belive it can happen again,we just need patience,till then go out and play the mega millions lottery its up to $280 million this friday ..lol

Thanks Will, Mallory, and M&M!

Many people were first deceived (in my opinion) at first thinking the IQD would bound back like the Kuwaiti dinar. I don't think that will be the case this time. It will come back, but I think 2-3 years is a good target to shoot for.

Another thing to keep in mind is that when it does come on the market, just sell off enough to cover what you spent on them. Then it is all gravy after that!

by the way how many do dinars does everyone have and what you plan to buy with it if it ever reaches say the $3 mark..lol i myself have 10 million put away well i cant even begin to dream if it hits the $3 mark and im sitting with 30 mil in my closet..lol.

now that you mentioned you have it in your closet where do you live ? lol hahahaha j/k

good luck to all, hopefully we can win the iraqi lottery! hahaha

big up to EL PASO, TX

lol

Calling the above posted number by dialing 011-965+ number. 965 is the country code.

Great blog! Thanks for all the info folks. We bought 2mil and loved them. It's beautiful currency. We liked them so much we bought 2 more. Then the prices fell, so we bought 2 more. I'm stopping at 6mil.:) Hope to take a little short term profit and hold the rest for long term gain. Let's be sure to keep each other posted as events unfold!

Great input cant wait till the ship comes in I wan't a new Jeep Wrangler. Another good seller on ebay is "JAKI2000" You can spend a little extra and he'll ship it to you in 2-3 days from Jordan. I think he's "dema89"'s brother,cousin, dad or something. They have the same last name.

only thing with dima now is he only takes credit card i used to buy from him with money orders,no way im giving my number over ebay theres a few other good sellers right now the cheapest i seen is j.b trader he wants $845 for 1 million dinars and hes locally to me i can drive over to him.

I am flying to Amman Jordan via Amsterdam (6 hour layover he he he he)And hope to take a cab to Iraqi Border where I hope to purchase dinars any one ever made this trip yet?Right now the USA buys gasoline @1.50 a gallon out side the country and tucks it in to iraq where it is sold for 5 cents YES thats right! 5 cents a gallon that cant go on for ever one of these days Iraq will have to purchase there own gas at market rates that should have a devastaing effect

I have purchased from two different individuals on eBay, one is from Jordan ("antiquesghaith") and the other is located in Kuwait ("sspens"). I have attempted to deal with "jb.trader" and found the communication to be a little sketchy and I have yet to pay the individual due to shipping taking too long from one U.S. address to another U.S. address; I was quoted 7-10 days. Aside from a FedEx snafu in Kuwait, which was not the seller's fault, I have encountered no problems whatsoever. So far I have purchased 9 mil IQD for for distribution amongst myself and about five other people in the States.

The latest price I paid, since I am in Iraq on lock down without a check book, was $2500 for 3 mil IQD, includes shipping. That was from the Jordanian individual and "sspens" is selling it for about $850/mil IQD. Boths merchants' preferred method of payment is wire ransfer to their account. USAA FSB records all international wire transfers which may be used if their is a dispute.

For those who have never performed an international wire transfer, beware of the fees involved and the max amount that may be wired without a written authorization from the account holder.

Here is the current mid-market rates as of 2004.07.02 03:45:39 GMT for the IQD or NID:

1,000,000.00 IQD = 685.8871 USD
1 IQD = 0.000685887 USD
1 USD = 1,457.97 IQD

Enjoy peops. Good luck with all of your investments.

i love this website...i like to hear what everyone has to say. i've only got 500,000 dinar, but i think i should get at least another 500,000...reading what everyone else has, millions after millions...i should at least get one million..hehe!!

so much good info that we pool here doncha think? I don't think the Dinar could hiccup without it making a bigger noise on this site. gotta love it. All i can say is "Patience,patience,patience and Research,research,research". And if course, share the wealth....of info that is:)

definetly share the wealth of info...i have learned so much from reading what people have to say here.

I've got a mil to sell for $60,000USD. Any takers? DREAM BIG!!!!!
When I first started researching this I remember seeing someone selling a million on ebay for $20,000. Just thought I'd share.:)

Hi everybody,

Existing New Iraqi Dinar (Bremer Dinar) will be cancelled on July 31, 2004.

New Iraqi Dinar will be launching on August 1, 2004 with the set official exchange rate.

Bremer Dinar may be exchange on that time.

IRUM

ASIAN RESEARCH DEPARTMENT

where did youy get your information?

Randy sent you an email if you didn't get it, Please do not try to go through Jordan and enter here. First Iraqi's won't let you in, FBI will get involved just like Berg! You as an american on his own is a big Payday to terrorist. Go to Kuwait, Money is same as you get here and tons safer. I am in Balad, with thousands of troops. I give you credit for big fortitude, but last thing we need here is another american losing his head. Trust me Kuwait gives dinars at just a good rate. Kuwait city is very safe and you can fly direct. DO NOT GET INTO A TAXI!!!

IRUM is a liar, he is just hatin cause he didn't get in on the Dinar. Do yall really think that they would change their currency less than 1 year later when it costs them billions of dollars to make it? Come on IRUM, quit hatin and buy you some dinar. Asian research department (yea).

http://quote.bloomberg.com/apps/news?pid=10000039&cid=derosa&sid=aaVkcS7uxQWY
chek this! wonder how much he bought?

There should be no tax on your exchange of currency. It is only considered changing money. I got this straight from H & R Block.

Mr. Jamel,

Please be sitted back and watch the attitude of New Iraqi Dinar, which will be seen by your own.

However, Asian Research Departmet has guaranteed news regarding Dinar, and therefore, the company will not be in favor that innocent people will bears a huge loss.

So, please do not use rubbish language in future as well.

IRUM

ASIAN RESEARCH DEPARTMENT

Irum, I would like you to back up your statement with something of fact. I do a lot of surfing on this subject, having invested in the "Bremer" dinar...which is actually the new currency for the Republic of Iraqi...and I have not seen anything to support your claim that yet another new currency will be deployed on 01 August. While I think many people are getting overly optimistic about the dinar's future, there is enough misinformation out there that we don't need to be adding to it. If you have a credible source that will validate this currency change, please share it with the rest of us. Thanks!

theres no way in hell its gona change again if it was iraq would have said something to let others know like last time that the dinar would change so all the people in iraq could go to the bank and trade in the old dinar for this so called new dinar there not just gona over night say oh ya guess what those dinars are not good anymore you need these then litereally everyone in iraq is broke there would have to be a time period like last time it was around a month to exchange everythingthe only thing i see happening is that maybe iraq will start printing its own money other then that no more new dinar,so like i said we would have heard something next time if you try to claim something here you better post a link to back up your story dont just tell us your dream you had last night..lol

plus,i dont see the dinar getting stronger then 1460 till end of july or early in august cause thats when the world bank will be in iraq and hopfully fully operating.,once the world bank is up ands running then the iraq dinar will be accepted to exchange.

I appreciate the comments of Irum from Asian Research Department.

I know through some very reliable source that the new government looks for another currency. (Irum is right)

Many people who already invested in dinar, are not yet informed that this dinar may goes to zero.

Look at "daystartrading.com" NO ANY UPDATE

Look at "firstdinarfinancialgroup.com" NO ANY UPDATE

Because they know that perhaps the new government will change the currency.

I once again thanks for Asian Research Department, specially IRUM.

ok im gona go do some more research and call my family in iraq see if they heard anything new that we havent gotten broadcasted to us yet, i'll be back,i just got my call from bently they got my new GT i got on hold ;) ..lol j/k

Central Banks Selects Three to Open Branches
July 2, 2004

The Central Bank of Iraqi selected three banks to open branches in Baghdad. The three banks; HSBC Group, the National Bank of Kuwait and Standard Chartered Bank, are the first to be granted licenses to provide financial services in the country.

“Any economy goes nowhere without a banking sector, so that's the first place to invest your money,” said Bill Barron, a managing director at Deutsche Asset Management Ltd. “HSBC and Standard Chartered have the expertise and the Middle Eastern network, so it's no surprise they got in. I'm surprised there were no US banks, but it's only a matter of time before Citibank and the others plant their flags there.”

The Iraqi people are casting their implicit vote for the success of the Central Bank’s policies by not selling Dinars for dollars. This week, the Central bank announced it would remove interest rate controls, a signaling growing confidence in the economy's ability to grow.

The Central Bank has put in place a currency exchange to replaced Iraq's old notes, a foreign investment law that allows non-Iraqis to own 100 percent of most companies and banks, tax codes for corporations and individuals, and customs duties.

Billions of Dollars Pouring Into Iraq

The World Bank is projecting a significant rebound in 2004 with growth estimates ranging anywhere from 30% to 70% and an overall economy worth $17 billion to $22 billion.

Bush administration officials are optimistic about reconstruction and project that Iraq's growth will be close to the high end of the World Bank projection.

Salaries and pensions for public employees have been increased. Repair work on the power grid, oil facilities and roads are broadening throughout the economy. Farmers who could not get seed, fertilizer and animal feed in recent years are producing again.

The billions of dollars are pouring into Iraq acts as a powerful economic stimulus. The United States is expected to award contracts for $14 billion in reconstruction work this year and $4 billion to $5 billion next year

Foreign Investment Increasing

Foreign companies are considering long-term investments in Iraq. Pepsi is refurbishing a bottling plant and Nestle has a bottled-water factory in planning stages. Fortune 500 companies researching the market for the best opportunities.

guys this is all true months and months ago actually pepsi,and coke and motorola was invited to do business in iraq and all the contracts have been singed this is the first time pepsi is allowed back in iraq since 91 i belive before the year is over i heard there will be a new mitsubishi plant or dealership in iraq wish i know wich one jordan is finally also trying to help iraq they said no what iraq asks of us it would be hard for us to say no so things are lookin up and going in our favor if you noticed you dont hear much bout bombings anymore or pointless killings things are getting under control it has gotten so good that i read a month ago that iraq was turning away people and having there pick of who to invest with and let in there country i mean come on iraq of all countries going from no one wanting to deal with and help to having companies kiss there feet to be let into iraq if you want to know the companies that have been signed contracts with iraq go to that website i posted iraq expo rebuild iraq link and go back a few pages its all there every bit of what i say.

and for those saying well its not gona happen over night its gona be a few years well let me ask you,are you gona have $300,000 u.s cash in few years without winning the lottery? so then whats a few years hell even if its 10-15 years so what at least you know your kids will never have to worry.

Asian Research Dept. Show some proof of your facts, instead of just saying it is, and then I will believe you. Until then your statements mean as much as the dinar is worth right now.

no bro i think the dinar is worth alot more then his rubish..lol

I'm so addicted to this blog....
Hey Tony -- What do the folks back in Iraq say about Irum's claims? I personally think the info coming out of "The Asian Research Dept" is baloney. He hasn't cited even one source for his blather. He has a post dated 6/29 talking about 1milIQD = 1000USD, further up the page, which also makes little sense.

Hey Lasthehun -- Thanks for the Bloomberg article!
I love reading current material. (July 1)

I think we all know the risk we're taking and have only spent what we are willing to lose. The rewards still outweight the risks no matter what.

Irum you are going to ruin this forum by spreading pointless, unbackable lies. Unless you are going to back it up and reveal your sources....keep your comments to your self!!! This is a good forum so don't ruin it unless you have facts. Not opinions!

Keep in mind a few facts about the Iraqi people and the country itself:

Iraqs population is a very educaed population for the most part.

Iraq is the cradel of civizilation: they have been building, trading, producing for a very long time. Most other peoples were running around in loin clothes while the people of the area around the 2 great rivers had built a great civilization. They WILL rebuild a great nation. There is no question.

It may take time but I think that a person who didnt invest in the Dinar has more to lose than those who give it a shot.

I for one would kick myself if I didnt give it a go and it took off...
Just my thoughts

That's exactly it David!!

I was in the Gulf War and at the time I didn't even think of buying Kuwaiti Dinars. They went down to about $.065/USD and only 13 months later they were over $2/USD. I wanted to scream!

I'm not missing the boat this time. The Iraqi people are now going to be allowed to flourish they way they should have been. The Iraqi's are a proud people and they are going to step up and show the world their true colors.

RANDY PLEASE LISTEN TO ME AND SEAN DO NOT TRY AND TAKE A TAXI FROM JORDAN TO IRAQ. you stand a good chance of not living to see the dinar go up if you do. fly into kuwait city (luftansa has many flights from europe). also be learly of who you do business there. they will try and rip you off if you are not careful. good hunting

http://www.eia.doe.gov/emeu/cabs/iraq.pdf
Energy Information Administration-Official Energy Info on Iraq from the gov. Bottom of pg 14 shows what they are saying the dinars worth. The rest of the info is great to know. Iraq is actually richer in oil than Kuwait.
Kuwaiti sources even claim it. You can Research it on the internet.
Can't imagine that they'd change the dinar. I've even read of all the people from different countries of how they are investing. Even the Kuwaiti's are investing. Still looking for source that confirms Irum's claims.
Also, I did hear from sources in Iraq that one dinar will be worth around .32 by Nov. From reading earlier in this forum someone had mentioned that also (or close to it). Does anyone know of any other source to confirm this?

Irum,

How about some links to this info of yours? I'm rather suprised that no major news agency is reporting this as it would be a rather tough thing to do again without the help they had this last time.

Ahmed Salman Jaburi has said that he likes the new dinars and that they are becoming more and more accepted by the people and that confidence is rising. Changing the money again would undermine that confidence. The Iraqi people are ready to move forward, not back again.

By the way, Ahmed is the Deputy Governor of the Central Bank of Iraq, so I think I'll take his view of it over yours.

Hey Lasthehun - I couldn't get to the Bloomberg article using the link you sent. Any way to resend the link or copy paste the article (or interesting parts, at least) into the forum?

Thanks,
Andrew

Found some interesting news on the Reuters news website. This may have been what Irum was mistaking as new currency.

The Central bank is going to be issuing Iraqi Dinar Treasury Bills. This is not new currency, this is what they call a debt issue, or in the US a bond issue. They will sell the T-Bills to generate money for operations. This is a very common practice and should not get anyone rattled.

This is great news in my opion as I had September picked as their first debt issue. This is going to show the World Bank that they are serious about moving forward. The financial backbone needs to be the first thing up, and they are going all out to do just that.

If you want to check this out for yourself, go to www.reuters.com and search for article 5449195 or put Iraqi Dinars in the search.

Hey, first posting here. I read the whole thing from start to finish and I am very pleased with the information that I had received. I am an Army Active Duty Airborne Combat Medic that every day interacts and speaks with the locals. I have been purchasing my dinars from my friend whom is an Iraqi Doctor. One he would not steer me wrong as he is one of my best friends. I was skeptical when I first found out and I asked him what he thought and he said, no this is a VERY good investment. As for the dinar being replaced, They WILL let their people know about it because if the govt DOESNT! The entire country of Iraq will be worth $0.00, every dinar/cash a local civilian has will be worthless. They arent going to do this and they wont do this. The govt will also slowly replace the larger bills to smaller ones as the economy grows. Just think logically abou this one...DIR, And as for my final thought can someone please give me an honest no BS answer on the exchange back into US$, will I be taxed? And what in thee heck is the current Dinar rate, everything is pre-turnover. I also went to the website a previous person said was .32 to 1 US or something like that and the IRAQI dinar was not even there. Thanks- Will keep you posted from the front lines if anything detramental to our investments is in the near future. Yes that means that one guy IS full of crap! Straight from the local Iraqi people and my friend the Iraqi DOCTOR....

Dinar Vegas Style,
Well, we have heard and read a lot about the possible Iraq dinars. So much positive and neg. and thoughts about the Iraq people. Rest easy people who bought the dinar. Nobody, really knows what's going to happen? They don't have the crystal ball. Note during the last 12 to 6 MOS in Iraq, nobody would have guessed or predicted we were going to see all those killings and such organized killing at that. So, we experience the same thing everybody, even the High educated and the low don't know. One thing just seat back and enjoy all those days dreaming of positive thoughts which plays good on the life. Enjoy those nightly dreams with your family and just play the waiting game. Its a trip in Vegas extend stay just waiting for those numbers to come up whether its . 32 or 1 for 1 or the long shot of 4 to 1. Make your play and take the pay, when you feel you need too. Your stomach told you to buy, so just following the stomach and enjoy the ride of positives. It's a gamble anyway you look at it. But its a great gamble we as people only see in our life time. Nobody had the Internet during the Kuwait dinar therefor, nobody really got the message to buy or the great deal. There are many nations to have this but people didn't have the ability or tools at their side to take actions. Myself and family have bought and at about 8 mil would have liked to buy more but that the budget for gambling this year, for those dreams!! Take care Breck

Hi Jared -- Thanks for the update. I heard about the T-Bills the other day. Is anyone here investing in them? Any speculations?

i forgot to mention around 6 months ago i was speakin to my uncle whom lives in iraq and his friend works at a bank there,and said 3 people from kuwait had flown in there on a private plane walked in the bank's presidents office and dumped get this..$10 million u.s currency on the table and walked out with $146 million dinars,also at a airport in egypt of all place the authorities there had areated 2 men flying a private plane for illegaling landing or something and inside they found $650 million dinars,another place i forget where over seas in a airport the authorities searched a group of 12 people men and women and found $50 million dinars taped to there bodies and hidden in suit cases i will due my best to find the links to these for you to all read but from what my uncle says people are still buying now but not for investment see this is how it works the better it gets for us the worse it is for iraqi people cause they get less back think bout it before the war around 480 days ago 1 u.s dollar would have gotten them 4000 dinars!!! now only 1,460 dinars thats a huge difference for such a short period of time so he says all the iraqi people are trying to buy all they can now before it goes even lower wich would be better for us,but hard on them.

Tony, think about that 10 million USD only bought 146 million dinars. That doesnt add up at all. At this point 1,000 USD buys about 1 million dinar. So, they got f-d if this did happened.

i agree it didnt add right,but i also dont know what the going rate was in janurary wich is when this happened i would guess around 1700-1800 per 1 u.s dollar

Found an interesting Dinar Blog
http://king-of-fools.com/archives/000235.php

Iraqi Blog
http://healingiraq.blogspot.com/

Political Blog
http://www.instapundit.com/

Article on Blogging
http://www.smh.com.au/articles/2004/07/01/1088488089548.html?oneclick=true

All are current, enjoy!

THIS IS A GOOD PLACE TO CHECK OUT THE RATES!

I'M SORRY: http://www.nbk.com/nbk/TopBar/Rates/rates.htm

on that website it says
IRAQI DINAR 0.0000000 0.0002370 4,219.4093 1,239.0295 meaning 1 u.s dollar gets you 1239 dinars i wish it was true it wouldnt help me retire but it shows improvement i been going with oanada they say 1460 per 1 u.s dollar

plus if thats the case i have allready made $5,571 profit if not im at $4,349 not bad i guess

http://www.bankofdinar.com/ a nice lil read

Bloomberg has exchange calculater for all money.
Including the dinar to us dollar.

Al

Thanks Tony for the link to bankofdinar. I'd been looking for that and some how couldn't reach it.

no problem

The website that states the new iraqi dinar currency value is www.iccfx.com. They are stating that the exchage rate for july 2 2004 is .30=NID If you do not beleive me than go to the website yourself.

The web site is www.bloomberg.com/analysis/
calculators/currency.html

Al

Hi Lasthehun -- I've been tracking the exchange rate on the NBK site since 6/25. It's been 1239 IQD to the dollar, everyday since.

OANDA was recently updated to match the CBI auction rates of 1460. They previously carried the pre-Gulf War rate of $3.

CBI hasn't updated since 6/20. They still show 1460.

This site has been showing 1150 IQD to the Dollar since mid-June.
http://www.rate.co.uk/exrates.html

article on why it's so hard to track the rate...
http://www.xe.net/iqd.htm

Hi Derrick -- That's the pre-Gulf War rate of $3 = 1 IQD. We all wish it were true! But it's only there because they don't know what else to use. See if you can call them on the phone and have them update it like OANDA did.

lol if that was the currenct price i would buy all of you a brand never corvette right now lol

I'll take a 05 C6 Z06 please! oh and red too

seriously, when/where can we find out when the DINAR will be available for exchange in the U.S.?????? can anyone guestimate for me? i've been checking bank one, bank of america, frost, chase...blah blah....and nothing.

i posted a link i belive it said end of july or begining of august the world bank will enter iraq then the process starts.

The local banks aren't talking, I've called them too. The word on the wire spans from Aug to November 2004.

Good News
http://money.cnn.com/2004/07/01/news/international/imf_iraq.reut/index.htm

I've read all postings of this site and it briefly mentioned some information concerning a question that I have.

OffShore/OverSeas Accounts. Where and Why?!?!?!??

I've just started looking but don't really know what to look for and if the bank is really private. I've started in Switzerland.
I want to completely remain private and anounymous from everyone once this thing matures... from the government that is. I refuse to give them 15-30% of my money.
I would like some sound advice on this from some people who really do know about these types of banks and what I want to do.
Thanks... and it's all about Patience!!

Has anyone wondering how much the U.S. might have bought Iraq dinars for, and maybe how much that They (WE) might have bought? There goes are Money problems...Just a thought.....

Hi Breck,

Actually it might not solve our money problems cause you never now if Shillary "I'll take your money" Clintonista will rise to power.

Bit of info. Rumor has it from sources in Iraq that the money goes to International exchange Aug. 31st.
Also, National Bank of Kuwait (nbk.com) recognizes the NID....They have a branch in New York. Go to their website and find out more.

latest exchange rate (live)
1.00 USD
United States Dollars = 1,461.55 IQD
Iraq Dinars
1 USD = 1,461.55 IQD 1 IQD = 0.000684206 USD

HEY I HAVE BOUGHT 6 MILLION DINARS IN KUWAIT AT MONEY EXCHANGES..AT A RATE OF 1450 TO A DOLLER..
LOOK AT THE KUWAITI NATIONAL BANK SITE, WWW.NBK.COM THEY LIST THE IRAQI DINAR AT 1239.02
THEY ARE ONE OF THE BANKS IN IRAQ DOING BUISNESS..
ANYBODY HAVE A CLUE WHEN IT MIGHT DROP AND BE TRADED INTERNATIONALY

Where is the reference? I looked at the NBK website and could not find anything about IQD

Never mind RED RIDER, I found it

Hello fellow dinar buyers.....I have been paying 800.00 US per 1,000,000 dinars from a seller in Amman Jordan. Does any one here have a better source?

Sounds about right. Plus or minus 50.00 depending on the money changer.

Red Rider,Look at the date on top the page. It is
01/04. The info is 6 months old on the NBK site.

Shereef, you got a pretty good deal. The only way to get better is to be in Iraq buying it yourself.

Actually Al, the month is the middle number: 01/07/04= July 1st, 2004

Red Rider, Thanks for the info. Sorry.

We've gotten our best deals in Kuwait. Iraqi money changers are charging more. I've no idea why. Maybe they know something we don't.

Thank you for your responces. If anyone comes up with a solid source for under 800.00 US per million please post it here for all of us to share. I think this is a great gamble, and I'm gonna buy 100,000,000 dinar and sit on it for a few years before I even think of selling the first dinar. For those who want to make a quick buck the 25,000 dinar notes are bringing around 30.00 on ebay, and the profit on the lower denominations is even greater.

I will be leaving Iraq in a few weeks with 2.5 million dinar. What can I expect from customs in Kuwait and Germany?

Casey,
you have to declare to custums any amount over
$10,000 US.

Does anyone know if NBK will hold an account in IQD as opposed to personnally holding it in cash. Or will any other bank allow an account to be opened in IQD?

For those who posted about the NBK exchange rate, that has been the rate since at least May as I have checked often.

Casey, 2.5 million shouldnt be A problem as its worth about $2000 U.S.

I have reciepts for all my exchanges. Not a bad Idea for those who are buying.

just a helpful hint you are not required to declare any money, or items that are less than $800 in value USD. Other than that you must declare currencies that value $10,000 or more in USD. if you have $1,000,000 in IQD the value is far less than the declaration requirement.

People if you try to hide your money from the IRS it will only come back to haunt you. Admit and declare everthing. Pay the taxes and enjoy life. Yes it sucks that they will get 30%+, but it really makes you rethink that whole " Tax cut for the rich" ploy the left wingers are always throwing in the presidents face. They work for there money too!!!

Can anyone give me any info pertaining to OffShore/OverSeas/Private banking?? Not to include Kuwait or Dubai. I'm in Iraq and talk to a Kuwait Bank Rep and he said you have to be a Kuwaiti citizen to open an account. Sounds like a load of crap to me.
Anyways, the rate we get here in Iraq can range from 1450 to 1400. I've gotten my last 4 mil at the 1450 rate. Yes, I know, Very sweet.
Back to my issue about the banks. Can anyone offer any info on these types of accounts. I want that covert operations type of account where I have one... but "It really doesn't exist", know what I'm saying. I just don't want to give the government my hard earned gambeling money. Info on these types of bank is greatly appreciated. Setting up for the future!

Can anyone give me any info pertaining to OffShore/OverSeas/Private banking?? Not to include Kuwait or Dubai. I'm in Iraq and talk to a Kuwait Bank Rep and he said you have to be a Kuwaiti citizen to open an account. Sounds like a load of crap to me.
Anyways, the rate we get here in Iraq can range from 1450 to 1400. I've gotten my last 4 mil at the 1450 rate. Yes, I know, Very sweet.
Back to my issue about the banks. Can anyone offer any info on these types of accounts. I want that covert operations type of account where I have one... but "It really doesn't exist", know what I'm saying. I just don't want to give the government my hard earned gambeling money. Info on these types of bank is greatly appreciated. Setting up for the future!

Someone give me a quick rundown on how this will play out.

The NID hits the market at...say 0.33. Naturally there will be a mad rush and millions will be exchanged. How will that effect the price of the NID throughout the day? Do you wait for several months or years after it hits the market?

My father in-law just got back from Kuwait with over a million, and he gave me 50,000. Trying to figure out all the good and the bad with this investment.

And this seems like the best place to ask :)

Hey all, I work with some intereters here in Iraq. I mentioned one is a doctor before and the next time they go to the bank they are going to either confirm or deny the .30 cents to the dollar that www.iccfx.com is claiming.

Oh yeah and I had a question as to off shore accounts and tax evasion. I know that a swiss bank accounts cheapest opening deposit is 250000 dollars. Blah blah blah, and they charge a hefty 35 percent tax but because I am american they will rfund some 30 percent of that. As far as the US gov. is concerned on the interest I make on an off shore account. How does that go? I have to claim it right? And if I dont then its tax evasion? Someone please help me on this?

when it actually hits over a penny like you say $0.33 its hard to tell its all up to you,,what are your goals with this money retirement,paying off house kids college fund personally since we dont know what will happen meaning today it could hit 33 cents then tommorow go back down to 2 cents if you guys are strapped or really wana pay off or buy something i would sell half like the guy with 50,000 sell 25,000 at that price of 33 cents and keep the other 25,000 cause you never know,,but if you want the real gold and im talkin bout it hit 75 cents and higher its gona take at least a year but it all depends on you i would not suggest selling it all just a bit.

I believe some of you had better wait until you can get a few dollars and consult an accountant and a tax attorney. Don't take the advice of strangers on this site. And don't throw up red flags to various government agencies.

For Shereef or those serious hunters. I can do $765 per mil. minimum 20 million. cash and carry. but you have to come to Egypt. I'm committed to this offer as long as the current exchange rate does not have significant change. You never know !!!!!

i am just suprise where did you get people that NID is going up to .33$ !!!! any reference

I am researching offshore accounts that reduce or negate tax burdens just like the rest of you. Researching...

What the US is doing in Iraq is trying to build a democracy and a market economy. Our government gets its money from its investments and tax revenues.

It makes sense to find the best way to maximize your return on investment. Tax evasion does not make sense. It's amazing what greed makes us think about doing.

Offshore accounts (like in the Caymans) let you invest your money and not pay capital gains on earnings. At some point, you are going to use the money you've been building. And if you use it in large amounts (like buying a house, car, etc) don't be suprised if the IRS starts asking questions.

In a perfect world, we wouldn't pay taxes. In the most near perfect country to live in on the face of the planet (USA) we have to pay taxes. If the IQD reaches its potential (even if it takes 10 years) we are going to make a LOT of money. I'll gladly pay my taxes.

Any....
I wrote earlier in regards to opening an account in iraqi dinar. I need to expand on that a little.... I'm not so much concerned on the banks exchange rate(I can get it at 1470) and I am not concerned about trying to avoid paying taxes. But, what I am looking at is keeping it in an account(in IQD), whereas I don't have to worry if the currency itself changes again. Also, at the time of exchange in the future, will it take is a wire transfer(i have a limited knowledge to overseas accouning)? Could anyone enlighten me on their thoughts or what they know?
I have already take 2.2million dinars back to the states in cash, my plan is to have an equal amount in an overseas account, I'm just trying to figure out the best approach.

Pay your taxes. It's really not that bad... certainly better than going to jail.

IRS Capital Gains tax info:

http://www.irs.gov/newsroom/article/0,,id=106799,00.html

My interpretation of the IRS rule:
George Bush is trying to cut capital gains tax. I believe he may have already lowered them. Currently, you would have to take a quarter of your profits and pay whatever the capital gains rate is on that quarter only.

ie. You paid $1,000 for 1 mil dinar. Now it's worth 10,000 so you cash in. Subtract the original investment amount 10,000 - 1,000=9,000
Take 1/4th of that; 9,000/4= 2,250.
You would pay the tax on 2,250 only, at whatever the rate is that year. (Vote BUSH for better rates. The DEMs want to take it away.)

Please visit the IRS site...

HEY, I AM HERE @ BIAP IN IRAQ TODAY... I HAVE BEEN ASKING AROUND WITH MY BROTHER AND HIS FRIENDS FROM 5th SFG AND EVERYONE IS SAYING THE MONEY ISNT GOING TO CHANGE......SO ASIAN RESEARCH, STOP HATING!!
ALSO YOU CAN GET A MILLION DINAR FOR $700.00 AT ANY MONEY EXCHANGER IN KUWAIT CITY... SO PLEASE DONT FLY TO JORDAN AND TRY TO BY IT ON THE BORDER. KUWAIT IS SAFE...

there are people on ebay selling 1 million dinars for only $840-$865 and these are power sellers with over 3000 feed backs can be trusted why fly to kuwait and spend god knows how much on the plane ticket,food,loookin around and all that headache your gona end up paying almost $1500 per milliononce you add all that in but most people dont they just think oh wow $700 or $750 for 1 million not worth it bros just go to ebay and find you a power seller or j.b trader,dima89 are 2 of the best ones with the best prices i would not suggest any american going to the middle east at this time.

Allright! bloomberg just came out with a prediction about the NID and according to him its not worth getting into and has given a couple of reasons why it would not make it.

I have made some investment in the NID and my suggestion to all the other investors is to hold on to it. Why ? Becasue look what happend with the Afghani Currency after the interim government took over after the war. Don't take my word for it go and see the history of the Afghani which is the new currency in Afghanistan.

peace to all.

fais i agree with you
http://www.oanda.com/convert/fxhistory
check this out friends see what happened to afgani currency in 1/2/2003 woow from 4726.30 to
42.7850 agnist the dollor . sounde great, and if that happened to kwiti and afgani currency iraqi would be more profitable eixact like kwiti.

Afghani
The Afghani is the system of currency used in Afghanistan. Prior to 2003, one Afghani was worth about US$0.0000232558. Prior to the U.S. invasion of Afghanistan, warlords, political parties, foreign powers and forgers each made their own afghanis, with no regard to standardization or honoring serial numbers. For example, after the Northern Alliance lost power in 1996, it had banknotes produced in Russia which were sold on the markets of Kabul at half their value.
However, on January 2, 2003, a three-month transition period ended swapping old Afghani banknotes for new currency. The new afghani retained the name but had three zeros knocked off, making one Afghani worth $0.0232558 in US dollars (or one US dollar with 43 Afghanis).

On October 1, Afghan Central Bank governor Anwar Ul-Haq Ahadi announced that Afghans should use their own Afghani currency in daily transactions rather than U.S dollars or Pakistani rupees. This was in preparation for October 8. when all prices in the Afghan marketplace were to be specified in Afghanis.

In April, 2000, the Afghani was worth about US$0.000015625.

--------------------------------------------------------------------------------

Afghani is sometimes mistakenly used to describe people from Afghanistan (the correct term is Afghan).

Jamal al-Din al-Afghani was an Iranian-born Muslim nationalist and modernist in the early 20th century.

All text is available under the terms of the GNU Free Documentation License.

This article courtesy of Wikipedia.org
You may link to this article from your website:
American Encyclopedia Article

http://united-states.asinah.net/american-encyclopedia/wikipedia/a/af/afghani.html

I would like to make a few points about taxes, and why it is taking so long to be traded on the world market.

I talked to my tax accountant, and as long as you exchange the currencies in cash, there are no taxes. All you are simply doing is exchanging currency like you would if you were going on vacation in another country.

On why it is taking so long for it to come on the world market, it is because of the French. Iraq and the world bank is waiting to see how much of the Iraqi debt owed to France that France is willing to forgive. Once again the French are getting in the way.

always knew there was a reason al bundy hated the french..lol

RED RIDER, How are things at BIAP these days? When I was there three months ago it was raining rockets and mortars. Be careful.

Fais, I read the Bloomberg article too. The ideas he was putting forward were based on unknowns. The "insurgency" is one. He assumed that it was going to last forever and cause the new government to crumble. That is just not going to happen. I think he watches a lot of CNN and just assumes the worst possible scenario. I did a military tour in Iraq and all I can say is that things are just not that bad. Even if dinar investing is "risky", it's a risk worth taking. I bought $1,000 worth of dinar. The worst possible outcome for me is that I could lose less than 2% of my yearly income. I've lost more than that in one night in Las Vegas.

M&M, check out this IRS form, let us know what you think. It seems there is no tax on exchange of currency. It's just letting the government know of suspisious transactions.

http://www.fdic.gov/news/news/financial/1995/fil9538.pdf

The 0.33 is a guess and I used it as an example, a very wishful example :D

You guys keep saying one day it will be this, the next that. But isn't currencly traded in real time? Meaning it could fluctuate hourly or by the minute?

Say it hits at 0.10, you have all these KBR employees cashing in hundreds of millions. Couldn't it drop to 0.05 or less within an hour?

That is what I am trying to figure out.

Hi Henry -- Looks like the form you'd use when you hit it big in a casino and they hand you a large amount of cash.

I Found this interesting Q&A:

IF I SELL DINARS FOR A PROFIT,

WHAT'S THE INCOME TAX HIT?

• Q: I hear stories of people buying dinars from Iraq and holding them until they increase in value and reselling them at a large profit. Is this true and is it legal? Would you have to pay taxes on the profit?

M.W.,

Miami

• A. Buying Iraqi dinars as an investment would be risky -- if you could even find anyone selling them.

The IRS told Action Line that any profit made from selling currency is taxable. For those who make their living as currency traders or brokers, such profits are taxable as ordinary income, which can be as high as 35 percent. For the casual investor, such profits are subject to a capital gains tax of 15 percent."

http://www.dfw.com/mld/miamiherald/news/columnists/action_line/7885786.htm?1c

Hey M&M Do you have sign up to that website to view the article? And why doot I get taxed on my canadian money when I trade it back for US. Is there a limit on which before you are taxed just as there is a limit of 10000 $US dollars that you have to claim through customs?

And another question I am hoping you may answer is, how long has that tax on currency conversion been in place?

NBK just updated. 1USD= 1,241 NID

jeff does nbk trade on sunday

or are they just now posting fridays trading

Not really sure, steve. I just went to the website and saw it updated. The date at the top said 04 July 04.

steve they do trade in sunday in Kwite the holiday days are Friday and sutarday in Kwite , its work day.

I'm in Iraq now and like everyone, I check the exchange rate everyday a couple of times a day for the rate to jump. Talking with many Iraqis and people from the Central bank of Iraq and they are all positive about the currency being worth something soon, but no one knows WHEN! Sit and wait I guess!

Taxes: Talk to an accountant. But why should you be suprised if it's taxed? You are making an investment.

Some of you need to come back to reality. It's a F*in investment. Infrastructures aren't built overnite. They TAKE TIME!!!!

Just take your dinars and put them someplace safe and in a few years.

And yes, of course the cost of a dinar is a lot higher if you buy it over here in the US than over there. You think the traders are DEMOCRATS with no understanding of economics and business?

But, I guess some people never learn.

And some advice ... take a class in accounting and finance or something. A lot of you people sound like a bunch of moronic nimwits with your questions. Get an edjukashun or something.

Think about it. With all these people taking millions and millions of Dinar out of the country, the value will go up due to less of it being in circulation. Once people decide to sell it back, it will go right back into circulation, flooding the market with it and forcing the value right back down. You have to know when to sell.

Hi Kyle--You need to register to read their articles. I copied the entire article for you so you don't have to. You won't be taxed when you do the exchange, like sale tax. You have to report it on your income tax as a capital gain. If you don't have a personal accountant you can call H&R block. They may be able to help you over the phone.

CURRENCY EXCHANGE

IF I SELL DINARS FOR A PROFIT,

WHAT'S THE INCOME TAX HIT?

• Q: I hear stories of people buying dinars from Iraq and holding them until they increase in value and reselling them at a large profit. Is this true and is it legal? Would you have to pay taxes on the profit?

M.W.,

Miami

• A. Buying Iraqi dinars as an investment would be risky -- if you could even find anyone selling them.

A Jan. 28 Associated Press article tells of how Egyptians are buying Iraqi dinars in large amounts, speculating that the currency will increase in value.

You should ask yourself if emulating Egyptian tourists with suitcases full of currency is a good way to plan your financial future.

There may be others around the world making the same bet (as well as many scamsters looking to make an easy buck off of the gullible).

Currency speculation is tricky even when you are buying solid currencies such as the euro, Japanese yen or Canadian or Australian dollars.

Less stable currencies (to say nothing of the Iraqi dinars printed by an occupying power) are a huge risk.

To trade in less-stable currencies requires a sophisticated knowledge of global financial markets and the country's economy, said Manuel Lasaga, an economist and cofounder of StratInfo, an economics and finance consulting company in Miami.

Most currency trading in stable currencies is usually through the purchase of options or futures.

''The main trend is the euro going up against the dollar,'' Lasaga said. ``Since last year, the euro has strengthened significantly.''

This has triggered interest in currencies as investments. Note that this interest is, again, in the safer sort of currencies.

Your best bet is to talk to a reputable financial advisor or broker.

The IRS told Action Line that any profit made from selling currency is taxable. For those who make their living as currency traders or brokers, such profits are taxable as ordinary income, which can be as high as 35 percent. For the casual investor, such profits are subject to a capital gains tax of 15 percent.

email this print this

To your second question, in my 15 years of accounting there have always been capital gains taxes. The Bush administration recently lowered the tax from 20% to 15% to encourage investment.

This is the IRS position on the subject:
http://www.irs.gov/newsroom/article/0,,id=106799,00.html

To your second question, in my 15 years of accounting there have always been capital gains taxes. The Bush administration recently lowered the tax from 20% to 15% to encourage investment.

This is the IRS position on the subject:
http://www.irs.gov/newsroom/article/0,,id=106799,00.html

Cool, Thanks Pete and M&M. As for the guy commenting about people needing to take basic accounting classes etc and being morons. I have an IQ of 156 I am not a moron I just put it to use in healing people rather than making money. The dimwitted questions people ask? They arent dimwitted they are uneducated. On a subject such as this it is hard to find the teaching. Which is why this posting room was put up.

Nice catch Jeff !

The rate finally moved on the NBK. Unfortunately it moved down againt the dollar from 1239 IQD to the dollar to 1241. This is only good if you're still buying, like me :)

Someone on this blog said a while ago that it would drop before it went on the market. People who bought when it first came out at $150 per mil are cashing in on their 70% return, afraid of the instability in the country. I personally think things are much better since Allawi took over. He's a strong leader. But then, I've never been to Iraq. God Speed the Coalition Forces!

All the other quote sites stayed the same:

NBK 1241 (Down today from 1239)
RateUK 1150
UNIDO 1460
Bloomberg 1460
OANDA 1460
PortAl Iraq 1460 (moved down from 1455 last week)
ICCFX .3190 (They still have old pre-Gulf War
rate of $3 per dinar)

Cool, Thanks Pete and M&M. As for the guy commenting about people needing to take basic accounting classes etc and being morons. I have an IQ of 156 I am not a moron I just put it to use in healing people rather than making money. The dimwitted questions people ask? They arent dimwitted they are uneducated. On a subject such as this it is hard to find the teaching. Which is why this posting room was put up.

Hey Kyle -- My pleasure ! That's what these blogs are for. A sharing of ideas... We all bring something to the forum. Even the nay-sayers. I listen especially hard to them and research their claims. You never know...
This is my first experience with international currency. My husband is a Paramedic who was injured at the WTC on 9/11. I was an accounting manager. I left my finance position to stay home and take care of him. I started looking for investments and found the dinar by accident while researching the war in Iraq.
I'm no expert but it looks like a pretty good bet...

Anybody hear anything about the new Iraqi Treasury Bills? Any speculation?

"Our policy will remain a stable dinar, not a fixed exchange rate. We will not stand against gradual movements of the currency," Shabibi said at the central bank headquarters on Rashid Street in Baghdad's old district.

hmmm... trying to read between the lines...what does he mean?? ...Shabibi is the man to watch.

Some dinar history, this article is from Feb 2000.
http://www.expressindia.com/fe/daily/20000929/fec29056.html

Just before the current war:
http://www.webprowire.com/summaries/433395.html

Current US articles:
http://www.adn.com/24hour/iraq/story/886822p-6177433c.html

http://reuters.com/newsArticle.jhtml?type=topNews&storyID=5449195

Reuters on the new Treasury Bills:
An Iraqi dinar treasury bill issue is imminent. The proceeds will be used to finance state obligations. We will only buy the government bills if this meets our monetary goals," said Sinan al-Shabibi, declining to give details.
"Asked if foreigners will be allowed to buy the
new paper, the governor said: "Eventually this will happen. We are studying the experience of other countries."

I keep hearing folks worrying about bringing in excess of 10,000 USD into the states. No one said taht was illegal, just that you had to fill out the paperwork.

Also the NBK was at 1241 last week as well. I have been following their rates since Jul 8 and their rates have been at 1241 for three different periods during that time.

Thanks Dave... good to know it's still within it's average range.

http://en.wikipedia.org/wiki/Iraqi_dinar

Headed out to enjoy the beautiful weather in NY...
Have a very Happy 4th of July everyone!

John,
Obviously you don't need this forum so why don't you keep your comments to yourself and stay off of it. We are on this forum to gain knowledge on the dinar and the majority of us have absolutely no background or knowledge in accounting, investing, or currency. However you seem to know all that already. We might need an education in accounting and investing but you definitely need an education in spelling, because frankly, it stinks! If you had any class at all buddy you would offer your expertise on this subject and help us out. However you wasted your time and ours by trying to degrade us. Now we see who is the moronic dimwit!

well the bottom line is this,there wont be a big change in the dinar untill end of july or begining of august cause that is when the world bank enters iraq,once that happens then the dinar will be accepted i read somewhere its supposed to be july 31st exzactly when the world bank enters iraq.

As the day nears for which we all are hedged, please remember that there are 2 significant issues at play: The undervaluation of the New (occupation) dinars, in a uncertain market that is tense, but seems poised to grow and kick some middle eastern financial butt, once they pacify the wackos. The other is the declining value of OUR US Dollar, being sold down the river by these Fed Bastards printing all this new US dough, rebuilding Iraq at US Taxpayer expense, with no reasonable expectation of being repaid. The more we spend rebuilding them, the lower our dollar falls; IT'S ALL DEBT! How on earth could the New Dinar fail to appreciate in the bread basket of the middle east, with the US Taxpayer footing the bill.

And besides all that, WHO'S GONNA SCREW YOU WORSE? The new Iraqi government? We hope they won't screw it all up, despite our best intentions and the systems WE put in place.You gotta believe they're trying to hit the ground running. Who needs the ditraction of replacing a just-replaced currency? I don't buy it!
Or will our soak-the-rich badguys catch up w/ our foreign accounts, making a media spectacle out of the lucky bastards that saw this for the opportunity it is and held on through 'til payday!! They'll have to invent new laws to address the newfound wealth of a great group of forward thinkers who hit it big, while the small minds of the shreiking masses are mired in 'quagmire' and election year vitriol.
Well, my wife and I are invested in this wild speculation, this leap of faith in history and the resilience of this Iraqi nation who've lived a hard lot for a long time; well, boys n' girls: it's shit-or-get-off-the-pot time!!! I look forward to posting back here sometime after payday...

thanks tony for that peace of information, and if you got the link to it, Please attach it to us .

ok, i was lookin at the website i posted the link to bank of dinar and on it i saw this

Potential Investment Return —
New Iraqi Dinar

Days before the invasion of Iraq, the Iraqi Dinar was valued at about 3 cents.

The New Iraqi Dinar is currently valued .169 cents or 6 Dinar to the penny.

so if 6 dinars right now equal 1 penny then the 25,000 dinar note currenctly selling on ebay for $25-$35 is worth $41.66?
there is a phone number i dont know maybe if somoene wants to call and ask them?

Bank of Dinar
Customer Service:
818-212-9421
903-466-2108
Customer Service Hours:
Monday—Friday: 7am–10pm PST
Saturday and Sunday: 9am–6pm PST

Customer Service After Hours:
877-208-4321
24 hours — 7 Days a Week
support@bankofdinar.com

if thats the case that means 1 million dinars is worth $1,666.40 hopfully we can get someone to follow up on this if this is the case i know i would defintly buy more from ebay before the price goes up being that 1 million still selling for $840-$875

People take a look at this site you will be amaized ..umm umm ummm

the iraqi dinar in National Bank of Ukraine
01/07/2004 as followes : - Iraqi Dinar 0.3654
and the us dollar to Ukraine currency is
US Dollar in settlm. with Indi 25.6560

i wounder if some one can get conntact with them and clear this out .. that is weard

check this by your self -->
http://www.bank.gov.ua/Kurs/ENGL/last_kurs2.htm

HEY THIS IS MY LAST TRIP HERE INTO IRAQ..I DRIVE UP AND DOWN THE HIGHWAYS FROM KUWAIT WEEKLY..THE IRAQIS THAT I COME INTO CONTACT WITH DAY TO DAY HERE LIKE THE NEW DINARS AND ALSO SAY THEY ARE HERE TO STAY...THEY ALSO KEEP SAYING SOON, SOON
WHEN I ASK WHEN IS IT GOING TO GO UP..AS FOR MYSELF I AM HOPING IT DOES SOMETHING AS WE ALL ARE. THIER ARE MANY SOLDIERS AND KBR EMPLOYEES WHO HAVE BOUGHT MILLIONS....DO YOU THINK WE ALL COULD BE WRONG? AFTER ALL WE ARE HERE IN IRAQ...

tony, that is the price that the website is charging. The actual bank exchange rate is found on yahoo!finance currency converter

check the website out,the price there charging is completely different from what they say its worth

there deals are on the left but if you look on the right under the credit card logos you'll see what i mean

http://www.investindinar.com/sale/

check this site out on the left it has a thing where you put in your email addy and you get updates on the dinar in your email has things happen to it obvously you dont have to put in your real number unless you want too,theres also a number to talk to the guy i found this on ebay some guy is selling lots of 5 million dinars and at the bottom he has some calculations and according to his calculation i came out with it being 600 dinars to 1 u.s dollar,dont i wish

Fredo,
I laughed reading your comments. RIGHT ON! 100%!

No seriously, tony. Check this site to find the real exchange rate. This a local IRAQI currency converter, not some guy trying to make a sale.

http://wwp.greenwichmeantime.com/time-zone/asia/iraq/currency.htm

thats basically like onadas wich is what im going with.

Yeah, I'm not even going to get my hopes up until the IMF gives recognition. Supposedly it's imminent. I guess we shall see

Iraqi stok market started working Yesterday source arabic financial CNBC news. no too many media coverage was presented at that time.

http://www.cpa-iraq.org/budget/NIDmergedfinal-11Oct.pdf

something i found while searching the net for more info.

This link below is definintly an awesome tribute to all you soldiers in Iraq and verterans. M&M you'll like this too. I feel proud to be a part of this forum of free thinkers.
Make sure you are able to hear the music "Freedom Fighters"

http://www.ticz.com/homes/users/bob/On-A-Rock/On-A-Rock.htm

Have you guys seen the guy on ebay that is selling 1 millin IQD for $400,0000.00. LOL!!! Maybe one day, but it sure as hell isn't now!

lol ya i been thinking bout emailing him and offering him only 350,000 lol,also a nice one just got on there from a decent seller selling 7.5 million for $6100 i think,it be sweet if everyone here knew each other well and trust was there we could all pool our money together and buy a big lot from ebay..lol i may order another 500k dinars they only want $450 for it i dont know.

Ha "freedom fighters" see we all in this forum we share some thing in common that we are all after Iraqi dinar . But we are not talking politics because when it comes to that we dont call them "freedom fighters" we call them Invidors "ocupation Authority" and no dought about that. Just take look at this if Maxico Invided usa what you will call the Maxican freedom fighters. review what you said carfully before you say any thing.

Are these guys on ebay and websites licensed to sell/buy/trade currency? I have yet to come accross a web site where the person has posted their license info. If found a couple of interesting items in the Patriot Act that might apply.

`Sec. 1960. Prohibition of unlicensed money transmitting businesses
`(a) Whoever knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business, shall be fined in accordance with this title or imprisoned not more than 5 years, or both.
`(b) As used in this section--
`(1) the term `unlicensed money transmitting business' means a money transmitting business which affects interstate or foreign commerce in any manner or degree and--
`(A) is operated without an appropriate money transmitting license in a State where such operation is punishable as a misdemeanor or a felony under State law, whether or not the defendant knew that the operation was required to be licensed or that the operation was so punishable;
(2) the term `money transmitting' includes transferring funds on behalf of the public by any and all means including but not limited to transfers within this country or to locations abroad by wire, check, draft, facsimile, or courier; and
`(3) the term `State' means any State of the United States, the District of Columbia, the Northern Mariana Islands, and any commonwealth, territory, or possession of the United States.

Here is the link to the above post.

http://www.epic.org/privacy/terrorism/hr3162.html

well! the real price is 1400 dinar for 1 dollar. that is in kuwait. if there is any way, where i can help to send some money for you guys -with a little profit for me- i can get you a million for $800. the only thing we need to figure out, how to trust eachother. i don't want to get f..ed over, you probably thinking the same! any ideal?

lasthehun

the Price in kuwite is I NID = 1240 you can check it out by Bank of Kuwite you trying to make big profite here !!

i ment 1 USD = 1240 .

good news

IRAQ has launched a new stock exchange, without fanfare. Staffed almost entirely by women, it aims to become the leading bourse in the Middle East

reference --> http://business-times.asia1.com.sg/sub/news/story/0,4574,121565,00.html?

good news

IRAQ has launched a new stock exchange, without fanfare. Staffed almost entirely by women, it aims to become the leading bourse in the Middle East

reference --> http://business-times.asia1.com.sg/sub/news/story/0,4574,121565,00.html?

Abdullah!
If the rate was 1240 in Kuwait then 1 million dinar = $806. But the rate is 1400 so 1 million = $714. I would sell it for $800. $1=1250IQD.
if anybody interested!

Where is FirstDinarFinancialGroup's Skyrocket on July 1st.

We once again warns to keep distance from Bremer's Dinar.

IRUM
ASIAN RESEARCH DEPARTMENT

Dear All,

Ask yourself why these companies haven't update their websites...!

http://www.buydinar.com/

http://daystartrading.com/

http://www.bizarrogifts.com/page/page/942496.htm

http://www.iraqdinarinvestments.com/

http://www.newdinars.com/

http://www.iraqi-dinar.com/

http://www.dinarsforless.com/

http://www.firstdinarfinancialgroup.com/index.php

Please keep away from Bremer's Dinar

With regards,

IRUM
ASIAN RESEARCH DEPARTMENT

Dear All,

Ask yourself why these companies haven't update their websites...!

http://www.buydinar.com/

http://daystartrading.com/

http://www.bizarrogifts.com/page/page/942496.htm

http://www.iraqdinarinvestments.com/

http://www.newdinars.com/

http://www.iraqi-dinar.com/

http://www.dinarsforless.com/

http://www.firstdinarfinancialgroup.com/index.php

Please keep away from Bremer's Dinar

With regards,

IRUM
ASIAN RESEARCH DEPARTMENT

Irum --> why is that ? they could made alot of mony and run away .. or it coulde be for some reson we don't know tell us Irum

Can eny body answer my question please. Why the smallest unit of the NIQD is 50 Dinars It could be 1 Dinar or even 5 Dinar !!!!!!!!

Yes Irum, please tell us why! You seem to know so much more than us. Please tell us why!

HA- I for one really appreciated the e-mail you sent about the rock. I have seen it before and I am planning to see it in real life in a couple of weeks. It makes me proud of the USA and my husband who fights for the freedom of all of us!

Hi M&M,

I was hoping to pick your brain since you are an accounting manager and know much more than most of us.
When the dinar opens of course I want to put it in a bank. I'm really not happy about getting wacked with a 15-30% tax and am thinking about some above mentioned private or offshore accounts. However, I want to be legal about all this and don't want to get myself into trouble. Obviouslty I'm not too familiar with all of that. Is there maybe something in between where I can put it into an account with a good intrest rate and not get taxed except for what I spend or any other variation of that scenario. Like I said, I want to be leagal but damn it's upsetting to have to pay anywhere from $150,000 to $300,000 on every 1,000,000, especially when I dream of cashing in for Millions. ;) That could be the money I use to build my new house in Puerto Rico or on one of the coast of Mexico.
I'm very Patriotic and served 8years in the Army, the Infantry no doubt, but this makes me want to move far away from home.

shelley your hasbend has killed alot of people don't be proud of hime too much . He suppose to be in international court not freedom fighter dear. Saddam maight be a bad guy but Iraqi people has to deal with hime . First solve your proplems back home - i don't want get in that, but don't call any body freedom fighter unless he deserve it . Your country has blood in its hands ok do you wana remind you of hiroshima Japan, vitnam,Iraq,Afganistan,somalia. 2000,000 babies has been killed during the sanctions and now you are after 2000,000 NID you people are weard. My comments doesn't apply to all american only some people Like shelley and ha who tring to bring personal issues to this forum.

this isnt the place for this abdullah if those are your belifes then take that yup with her in email this is a forum for peaceful conversation among people with the same interest the dinar,i think so far the information i have seen here is priceless and its nice to finally see someone who knows what the dinar is people would look at me crazy when i would talk about it,so please lets all stay friends there is enough fighting and hating allready if theres something you need to say to another person here if it doesnt have to do with dinars please do it in email shelley did nothing wrong,she is proud of her husband and wishs him to to return safely has we all do abdullah after all remember this, if not for people like shelleys husband saddamn would still be there and even more kids would suffer so lets all relax and help each other out.

oanada update were still at 1,460 i know some are talkin bout bank of kuwait or something i checked that its still at 1,239

sorry tony i appologize.

Abdullah, you need to keep your negative coments to yourself. I ain't the most patriotic person, but i am serving in Operation Enduring Freedom. And it is for a reason. Shelleys husband is doing his job. Study your history before you go talking about war. Japan was japans fault, vietnam was their fault, afghanistan (where I am) was their own fault (9/11), and we helped somolia. So you need to kick back and chill. If it weren't for America, you wouldn't be fortunate to even invest in the Iraqi Dinar. It would still be ran by saddam, killing his people and raping the women.

no problem bro lets just get back to providing more info bout why we are here,i tryed to email the bank of kuwait wich is telling us on there board its worth 1239 but the email got sent back said failure to something i dont know maybe if someone else wants to try or even call its a odd number

lasthehun sounds good buddy,but like you said it be hard setting up a way to trust both parties,unless you wana pay a escrow service and that will cost more,for for only $50 more someone can buy from ebay one if wich is there higest dinar seller certified he sells 1 mil for $850,reason he can sell so cheap is cause he stocked up like i did when it was 4000 dinar to 1 u.s dollar but if a few people are willing to get together on your deal and find a good escrow service to do it for everyone involved im sure you'll have some takers goodluck.

Abdullah,

You are right, this is a forum about the NID.
But, why do you insist on entering your own views
in your answers? Practice what you preach.

My, my, my.... this forum is heating up.
There are plenty of other blogs available to talk politics. This is a pretty good one: http://instapundit.com/

This thread is about investing in Dinar so let's stay on topic, shall we?

As an accountant I would never condone cheating on your taxes. The penalties are serious. With that said, we live in a free country and reporting your earngings are voluntary. If you put your dinar in a safe deposit box for security, the gov't has no way to know about it. Once you cash in, you need to decide where to put your dollars. If you open an account with a large sum of cash they can, and most likely will, ask where you got it. They can, and may, report it as suspicous to the Fed. Anything over 10,000 in cash is scrutinized. However, should you decide to put that cash back into a safe deposit, no one would know, but you'd lose a fortune in interest. I don't know anything about offshore accounts, sorry.

My professional advice: Pay the tax. You'll make it up in interest in no time. You'll sleep better at night and your cash will be easily accessable when you see the perfect car/boat/house that you just gotta have!

jame i am gana keep my comment's to myself this time. i guess tony was right

Here are today's quotes:

NBK 1239 ( UP today from 1241)
RateUK 1150
UNIDO 1460
Bloomberg 1460
OANDA 1460
PortAl Iraq 1460 (down from 1455 last week)
ICCFX .3190 (They still have old pre-Gulf War
rate of $3 per dinar)

I've added another quote site to my daily run that's had some recent movement.

XE.com 1456 (UP from 1461.55 yesterday and 1468 on 6/30/04)

With the new Iraqi government in place the Dinar should gain faster than before. The prediction is that the Dinar will start trading with the world banks in November, at that time the cost of buying Dinar's may become to expensive to invest in.

reference --->http://www.scgs.us/

Any info on why the Central Bank of Iraq stopped updating their currency auction prices? The last update is June 20th...

http://www.uruklink.net/cbi/index.htm

http://www.iraqcoalition.org/exchange.html

M&M this site may help you regarding the exchange rate updating --> auctions.

i think its updated in here.

Thanks Abdullah --- The CPA was pretty much disolved on June 30th. They have not updated the exchange rates on this site since June 27th. The site now re-directs you to the American Embassy in Iraq:
http://iraq.usembassy.gov/
Lots of interesting stuff, but no exchange rates.

abdullah,do you mean the world bank will enter iraq in november and then start trading,or it wont start trading untill november meaning the world bank will enter iraq sooner but will still take time?

Hello i hope you will fine my host Give us the latest rates of iraqi Dinar In rupes and also in USD we will be thank full to you for that

You cool with me abdullah; good web site. I hope that it goes to what it says and we'll all be rich!

i am really not sure tony i just coped it to this page i am waiting for some one to explain it to me .

Guys go to EX.com, it's at 1446. It's been droping since this morning. I've been monitoring this site everyday since the middle of June (the rate in the last 3 weeks has been between 1456 and 1476). This is the lowest it's been in 3 weeks, hope it keep dropping. Would love to see it open around .20cents or more. Wishful Thinking.

jamel i wana be rich too, i woulde stop working from next day and one thing more throwing the resignation paper in my boss face. i swear i'll do it.

NICE CATCH J --- 1446.09 at 1pm EST
That's 50 fewer dinar for the dollar in only 2 hours... we better keep an eye on this folks!!

i bought 13,000,000 NID but at the end of this mounth 2 more million will be added to become 15,000,000 i think that amount will turn me to one of bill gates friends. But the next couple months gana clear every thing out if its not end of july or begining of aug .. i will wait up to 2 years.

where did you got that exchange rate it's still showing 1460 in oanda and 1455 yahoo for jun 14 auction ... sound great

Hey Tony -- Watch out for SCGS. It's owned by a guy name David Adickes. He also owns First Dinar Financial Group. Check the contact address, same place... I had real problems with this guy when I ordered from FDFG. Gave me a run around for three weeks after I paid him. Never did get the Dinar. Had to file with the BBB to get a refund.
He's bad news and I wouldn't trust the claims on his site. You don't even know what SCGS stands for. No phone number or name given either. I had to track him down by the address. It's a park, presidentspark.com. He's an artist (A real good BS artist as well)
"Caviat Emptor" ...Buyer Beware

WOW Abdullah ! --- I'm jealous. 15 mil is going to make you a very rich man indeed.

The best rate I've seen is 1150 at: http://www.rate.co.uk/exrates.html
It hasn't moved at all on the site as far as I know.

However, this site:
http://www.xe.com/ucc/full.shtml
has shown steady improvement with a surge this morning.

Anybody else been tracking the rates? Pick up any trends??? Please share :)

Any good articles today?

abdulla where did you get your info about the world banks trading in november

i'm new at all of this but i think it has improved...i was just on oanda.com and saw that 1 iqd is .0007 usd and if i remember correctly a few weeks ago it was .0006...so it's getting better. and i was reading up in the blog and abdullah had said that on 6/29 1 usd was 1,455 iqd and today on oanda it is 1,421. so looks like it is getting better!!

Abdullah,

After I get back from Amsterdam..HEHE
We can meet up on my Yaht (how can I buy one when I don't even know how to spell it, guess I'll have to take a crash course)around the Virgin Islands and have drinks with all the money we will have. Just no comment like before or you'll be swimming home.
Patience my fellow investors, Patience.

Anyone with some knowledge...

That 15-30% tax, is that a one time deal when you cash in? Is there a tax each year at tax time for that amount of money also, like a "special" tax for the rich?
What is the average percent on a saving account? Hopefully that money earned will balance out what I've paid to the IRS.

Asian research dept. ???? Got a web sight or something. Give us some proof! All I've read from you is your opinion. I really like to hear everyone's thoughts negitive and possitive but you seem to be so informed, I'd like to see some facts please. By the way, this is a very good place to get info. Thanks all.

Here's an interesting conveter
http://www.iccfx.com/

10,000,000 Iraqi Dinar (IQD) = $31,235,939.6328 US Dollar (USD

according to them i currently have 31 million and some change kool just give me 10 mil..lol

thats the old rate bro they still havent changed that,BUT i wouldnt be suprised to see that old rate again in bout 5-6 years.

sorry, this is the one I ment to give

www.aljazeera.com/fn913.asp

http://portaliraq.com/index.php?module=PostCalendar&func=view&tplview=&viewtype=day&Date=20031228&pc_username=&pc_category=&pc_topic=&print=

on this website on the top left hand corner they have a converter that automatically changes,also whats kool is you can see job openings in iraq for all fields,some paying as much has $100,000 a year where here they would only make around $30-40k a year some kool stuff on that board,plus you can post your resumes and employers hiring for jobs in iraq will contanct you.

eflop good site,i wonder if the numbers change throughout the day or just once a day

Hey tony, your my new best friend! I only have 1 million dinar. Ah, I guess 3.1 million dollars is o.k. for now.

Hi Mallory -- That's the "Bid" price, not the "Ask" price. The bid price is what a buyer is willing to offer, the ask price is what the seller is asking for it. The actual price will lie somewhere in the middle. Most sites will only show you the ask price. OANDA shows both, which haven't changed in some time...

eflop,we need to be friends with Abdullah he has 15mill dinars-around 46 mil u.s lol

CONCRETE TAX IMPLICATIONS OF THE IRAQI DINAR INVESTEMENT

As a recent graduate of law school(taking the bar exam this month) who is also making a small investment into the Iraqi Dinar as well, I wanted to let everyone know how this will be taxed(i checked with my tax law professor)...

(Taken directly from my Professor's response regarding tax implications. Sections refer to Federal Income Tax Code)

BEGINNING OF RESPONSE
For U.S. tax purposes, foreign currency is property, not money. Thus its purchase and sale is a property acquisition and disposition resulting in section 61(a)(3) gain or section 165 loss. Accordingly, the cost of the foreign currency is its basis, and the eventual sale price is the amount realized. (Converting the Iraqi currency into U.S. dollars is a sale.) Depending on the relative numbers, gain or loss results when it is disposed of. In your case, you are assuming gain.

Given that, the next question is the character of the gain: ordinary or capital. If the currency is honest-to-God acquired for investment, and if none of the exceptions to the section 1221 definition of a capital asset apply (e.g., stock in trade, held for sale to customers, and so forth), then the gain is capital gain. If not, it is ordinary income.

If it is capital gain, then the final question is which of the capital gain rates apply. See section 1(h) (which probably will not be in its present form in five years).

So, with the gain being characterized as Capital Gain rather than ordinary income, you will be looking at roughly an approximate 20% tax rate.
END OF RESPONSE

J,
this will be a one-time, capital gains tax for each time you convert any amount of Iraqi dinar into U.S. dollars.

I has been enjoyable following this thread. Its much better than the FatWallet forum thread on the Dinar.

To further our discussion on taxes...

J'S question is a very good one.

The year you cash in your foreign currency you will need to claim a quarter of your profits as a capital gain; long term gain if you hold the dinar for over a year, short term gain if it's less than a year. The current maximum tax rate for this is 15% according to the IRS.
http://www.irs.gov/newsroom/article/0,,id=106799,00.html

ie. You paid $1,000 for 1 mil dinar. Now it's worth 10,000 so you cash in. Subtract the original investment amount 10,000 - 1,000=9,000
Take 1/4th of that; 9,000/4= 2,250.
You would pay the tax on 2,250 only, at whatever the rate is that year. (Vote BUSH for better rates. The DEMs want to take it away from you. This is what they refer to when they talk about tax breaks for the rich. They assume that only rich people invest. An insult to all of us small investors.)

The second issue, which J raises, is the earnings on the US Dollars afterward. Like any other other interest you earn in the bank, you must add it to your income tax return for the year. However, you pay tax on the earnings only, not the full amount of your holdings.

ie. If you have 1 mil USD in the bank earning at 3% interest that's $30,000 in interst earned for the year. You must add that $30,000 to your income tax return for that year and pay whatever the tax rate is for your bracket. The more money you make the higher the rate is. (US uses a Progressive Tax System)

M&M actualy i bought the 13,000,000 NID from exchange shop i live close to Iraq i can find it at any exchange shop i can buy as many as i can but i don't have enough mony to buy more i got addicted to NID i know it sound funy but this is the truth. the exchange rate i bought them is $700 for each million i know its cheape in here. and guess what free of taxes. Thanks goad

M&M,
Where do you see exactly that the IRS says you would only have to claim a quarter of your profits as a capital gain?

Because I do not see it on the link you provided, nor in the Federal Tax Code.

tony if you take a look at this site -->URL
http://www.scgs.us/

the following sentense "With the new Iraqi government in place the Dinar should gain faster than before. The prediction is that the Dinar will start trading with the world banks in November, at that time the cost of buying Dinar's may become to expensive to invest in. " written in the middel of this web site i don't know the cridability of this peace of information, i have dought of it since it's commercial site of selling iraqi dinar but in this days tony we tend to belive every thing make us happy.

hey guys. i've read your whole fourum from the start, lots of great info on the dinar
my dad is in iraq working for KBR and called me july 2nd and told me to send him some money right away if i wanted to get in on the deal so i did as he asked and sent a good sum of cash via the mail (neatly concealed within the packaging) i'm just starting to get a little nervous whether or not it will get there as he has been there for a month already and has recieved no mail as of july 3rd. any idea how long it takes for the mail to get from here to there?

MT that depends in what service did you use , for example fedex takes three working days, cause i have recived mail from usa using urgent services like fedex not more than that, but regarding iraq have no idea how is the infrastructore of the mailing system down there.

abdullah,
regarding the mail to iraq we used United States Postal Service (USPS) regular mail. which i was told goes to new york and from their is picked up as military mail (apo) and them from there who knows. i sure wish i had read this forum before i had decided to take this route of purchasing dinars, but when my dad called he sounded pretty sure this was the thing to do, again prolly worring over nothing this is just one other aspect of the gamble, thanks

every website that sells dinars are askin crazy prices some as much has $1700 for just 1 million and $50-$60 for just a 25000 dinar note

and i understand too what you mean by being addicted i am too,i feel like no matter how much i have its not enough then when it does change over and if it does change over to a really good price im gona kick myself in the butt for not buying more.

MT,
I'm in Iraq right now and it takes anywhere from 8 days to 3 weeks. It all depends on where he is and thru which service he is working with... Army, Civilian Compounds. I'm working in a small Army base as a Civilian and just had our address changed about 3 weeks ago. It only take about 8-10 days for things to get here. Before that I was waiting for about a month before things got here. In all the mail structure here in Iraq has gotten much better within the last few months but due to some things (not negative things, restructure again)going on over here it's taking a few more days than 8-10. Hope that answered your question.

Other than Irum, does anyone think the dinar is not a good investment? Just curious to everyone's thoughts.

Just a food for thought. I bought 2 million from JBtrader for $1750, who is in Chicago, on June 16th and still haven't received it yet. I did talk to him today and he says I will receive it by Thursday or Friday. Because the shipment was coming in tomorrow.

I then bought 1/2 million from jaki2000 for $450, who is in Jordan, on July 2nd. I tracked it on Fedex.com and it is scheduled for delivery on July 7th. Five days! Not bad huh?

Go dinar!

Hi Blake -- I read it somewhere when I first started to consider investing in the Iraqi Dinar. The 2003 capital gains reporting is done with a schedule D along with your 1040. It may have been part of the recent change to the lower rate of 15%. I'll pull it up again and post it.

Blake,or any Tax Person:
You wrote some very interesting comments on taxing the Dinar etc. Some questions if you will? When I was in Germany, I was living there an I exchanged my US dollars for marks daily sometimes weekly. Never showed any neg. or pos. nor did any American GI or US person I know of. There was always better deals to be had, just had to know who had the better exchange rates. I think the ARMY would've notified us that we would have to claim any gains or loss do to Currency trading etc. Okay, I have taken several vacation in other counties doing the same thing, exchange for the current monies from my U>S. Dollars without reporting because never been informed I had to etc. So, if the U>S. Person working in Iraq are tax free income, and decided to exchange while they are there, why would they have too? Furthermore, so many Americans take vacation all over the world and exchange monies and I would say nobody paying taxes on this transactions etc. I understand if I am making an investment, but if I am working or Vacations in the foreign place, wouldn't I be allowed to exchange without taxation? PLS explain on any of those ideas please. Breck

Hey J --- I found some info on offshore accounts:

http://www.offshorepress.com/offshoretax/legalways.htm
I didn't read it all the way though but it sounds like what you were looking for...

Hi Breck -- There wouldn't be any tax on the transaction you're describing:
http://www.offshorepress.com/offshoretax/otcurrency.htm

Breck,
The difference is that your scenario is the opposite of this investment for several reasons.

1st and basically, you were exchanging your U.S. Dollars FOR Foreign Currency WHILE you were in that Foreign Country. You were not exchanging German Marks for U.S. dollars WHILE your person was in the U.S., as is the case with the Iraqi dinar investment. I suppose while living there, as part of the military on active duty, you had a valid exception where you were not subject to Germany's tax laws, whatever they may be. But anyway, even if you were just a civilian, the action you describe would be subject to Germany's tax laws, not U.S. tax laws. Moreover, what you do while living in other countries "rarely" will have a U.S. tax implication.

2nd, with the "american on vacation" and "daily exchange" hypos, the person was not holding the U.S. currency for investment purposes waiting for the exchange rate to increase. The person was merely exchanging currency on a "as-needed" basis and there was probably only minimal gain/loss in U.S. dollar's value, if any, from the time you brought it into the foreign country and the time you exchanged it. IF you were required to file a German tax form b/c you lived & worked there, you would probably technically required to declare this gain, but in most cases, it is so inconsequential a gain/loss that no one would come after you if you didn't.

For example though, let's say you brought in 1 Million U.S. dollars into Germany and saved it under your bed. 1 year later you saw how much the exchange rate improved in your favor where you would get many more German marks for your 1 million U.S. dollars than when you first brought the U.S. currency into Germany. Again, you would be subject to Germany's tax laws for this type of long-term capital gain.

Now in reversing that and looking at currency brought into this country, you will see that there you there is a limit to how much you can bring into this country without reporting it. If you bring in Iraqi currency that is worth more thgan $10,000 USD at the time you bring it over, you must report it to Customs. Besides being a security concern, this also alerts the IRS to keeo track of the money to see if any tax may be owed sometime in the future.

So, yes if you are on vacation or working in a foreign country, you could exchange your money into the domestic currency without additional taxation. however, if you held onto your U.S. military paychecks for 1 year, and then exchanged them into German marks when the rate had increased, you would technically then be subject to Germany tax laws for any gain realized from the increased exchange rate.

I hope you were able to follow my examples. You kinda had the concept backwards and I tried to explain the best way i knew how. Since it's complicated and may seem confusing to outsiders, just trust that my 1st post is correct, as it is from one of the top Tax Law Professors in the country.

M&M,
Breck has the concepts backwards in his hypos so I think your link and statement will only confuse him more. Not to sound confrontational, but I would honestly suggest not giving out tax advice you found on some link if you're not qualified as a CPA or an attorney.

The only reason I am actually giving out the advice free here is b/c i have not yet taken the bar exam this month so I am not creating any attorny/client relationships with my advice. Once i am a licensed attorney in 3 months, I will not be able to answer any of these questions without taking on a duty a liability for the info I post. So in other words, I won't be posting in 3 months.

Actually, that 2nd link M&M provided, written by a tax attorney, backs up my earlier statements about the U.S. tax implications for the dinar investment exactly.

Cheers

IRS Nuts and Bolts:
http://www.irs.gov/pub/irs-pdf/i1040sd.pdf
http://www.irs.gov/pub/irs-pdf/p17.pdf
http://www.irs.gov/pub/irs-pdf/i1040.pdf
http://www.irs.gov/pub/irs-pdf/f1040sd.pdf

Political/Historical discussion of capital gains:
http://www.cato.org/pubs/pas/pa-242.html

M&M,
I'm just wondering, how did you get this statement you made....

"There wouldn't be any tax on the transaction you're describing"

...from the link you provided?

http://www.offshorepress.com/offshoretax/otcurrency.htm

Because the 1st sentence in your 2nd link actually says the opposite. And the 1st link you provided actually specifically states there are limits to over-seas gains from currency exchanges for non-investment purposes.

You can't summarize those complex principles into extremely broad simple statements and still correctly state the law. You're treading dangerous territory by doing so.

Hi Blake -- I wouldn't consider your comments confrontational at all. I've fully supported everything you've said so far and this is an open forum for sharing ideas, not a professional web services site. I almost always close my comments by citing where I found the info. I certainly can't vouch for it's accuracy. That's for the investor to determine for themselves, as with everything they may read here. (Especially postings from the "traders" websites) I never said I was giving out free professional advice. I actully charge a great deal for my services. I explained in an earlier post that although I am not a CPA I've been an accounting/finance manager for many years. I am now retired and have been researching investments in Dinar for the past six weeks. We have all been sharing ideas/articles/websites during that time. It's not about right or wrong. As questions come up I try to research as many answers as I can find and post them. And although you claim to be taking the bar in 3 months that doesn't make you a tax expert nor would I take any legal advice from a blogger... This is merely a chat room. :)

Ok, let me apologize a bit. These 2 links provided by M&M actually explain the further tax questions posed by Breck much better & more accurately than I could.

I'm not going to be a tax attorney so, some of the more complex international tax issues I was not completely accurate with in my 2nd post. My 1st post is still completely accurate, as it is taken word for word from my Tax Professor's reponse

Thus, for Breck's specific questions, follow M&M's links(not his statement though) and go here:

http://www.offshorepress.com/offshoretax/legalways.htm

http://www.offshorepress.com/offshoretax/otcurrency.htm

Sorry for the rambling.

Dangerous territory? Really Blake, you take yourself too seriously. You either like the links or you don't. You don't have to read them.
He described the casual transactions that happen when you travel and there are no taxes, you've agreed. Unless his transaction falls into the investment category, which is why I posted the link for all to read and interpret for themsleves.
Unlike some folks, who expect us to beleive them at their word...

Apology graciously accepted. Please keep all those good ideas and updates coming !!!

I only meant making broad statements like "There wouldn't be any tax on the transaction you're describing" is dangerous territory because you can't summarize those complex principles into extremely broad simple statements and still correctly state the law.

Again, sorry for the hostility before.

PS... That first link was for Kyle not Breck. Kyle is interested in an offshore shelter. I believe Breck is the traveler with the casual exchange.

I fully agree, but this is not the forum for in depth analysis, is it? Will you be writing any papers for us on the rise and fall of the Dinar and it's implecations worldwide? Not likely while you're studying for the bar. So we accept what little you have to offer, thank you, and continue on with our research...

oops... it was J looking for an offshore account.
What's your take on sheltering the investment offshore, Bake?

of course, I meant Blake, our resident attorney!

Sheltering the investment offshore is definitely an avenue I would look into if the appreciation makes it worth it. But for that complicated matter, I haven't a clue myself how to structure it. You would definitely need to talk to a international tax attorney. I know I will be if the time comes. :)

I'll try not to be so argumentative from now on. It's ingrained in my blood and sometimes i forget to curb it.

The mark of a good attorney - PASSION. It's about the ability to turn it on and off at the right time. Look at all the great trial lawyers. They're at their best when they get up and take a powerful stance. You're gonna be great. Best of luck on the bar!

I'm very curoius about offshore investment but to be honest, it scares the heck out of me. I think I'll stick with the devil I know, Good ol' Uncle Sam.

Blake, No don't think I had any concepts backwards! I appalled you for taking time out of your very busy schedule to post some information for us, who you think to be on your lower feeding chain. No, I didn't get confused. All do respect, I was just illustrating a different methodology. I was posing the following pervious questions? Just making a few comments, to what you had stated! Also. I can follow your simplest terms very easy. If you read right, issues spoke of, I said for those working and living in Iraq as well, therefore are in a TAX Except status!! So wasn't just stating living in U.S. and buying Dinars. I don't think its your info, it was your professor providing the info you perviously stated. But, if a person has tax except status and working in IRAQ. Oct 29th 04, he had 1,000 dollars and on that day traded from Dinars lets say 1 million, and later on Nov 15th 04, those Dinars became worth a gain. You are stating he would owe some criteria for tax levy gains, short-term if realized etc. You stated in your example you used person would be subject to Germany tax laws!! I concur with your early statement Gov't workers are usually TAX EXCEPT STATUS!! Therefore, wouldn't owe any taxes. Again thanks Blake. I have bought Iraq dinars and waiting just like everyone else for the payday. I guess I let my account figure out the taxation amount once I trade and pay him the 150.00 dollars. Is that what you will receive Blake for tax filings, etc.?

Breck,
I apologize if i came off pompous before, it was not intentional. All I meant is that tax law is very complicated as I found out in my courses, and i just thought some people might have trouble following it if they hadn't taken a taxation class before.

Oh, and I'm going to be a civil trial attorney. No way do I want to be a tax lawyer, so I won't be doing any tax filings for anyone. Not my bag. ;)

Sincere thanks for the comments, M&M.

Man, this dinar investment has totally taken me out of my study habits. It's such an addicting and consuming investment angle to research. I should be receiving my 1 Million Dinar soon, I wish i was working instead of studying right now so i could invest a little bit more.

I wonder when major news networks such as CNN, MSNBC, or Foxnews will pick up the scent and run a story on the Dinar investment??

Please pardon a pithy political comment...

Hi Jamel -- Thank you so much for your service to our great country. It's so sad to see how parts of the world have been left behind when it comes to culture, science and economics. America will always be viewed like a parent; no matter how much we give it will never be appreciated. Perhaps we need to send a few history books over, along with all the food and medicine. I was so proud to see Pres. Karzai here in the US accepting a much deserved award. He deserves a medal just for surviving all the attempts on his life! A dedicated servant to his people, indeed. I hope Allawi fares as well in Iraq... Thanks and come home soon.

Thanks Blake,

News have already ran a story, but not a good one. Makes it out like some guy in a church sold some dinar and took an old lady money. I think a 90.00 dollar investment and made it look like they took her medication monies for a per speculation on dinar given back a 200,000 dollar return. News channel four OKLAHOMA ran the story and think they have posted on there web site. No really good info and lacks any truth, accurate information on the Iraq dinar. Brad Edward's trying to make a story out of nothing, other then it's a excellent deal for possible lg return. Hope you receive your Dinar soon. I acknowledged I might have took it wrong in the early blog, all good, hope you had a good Fourth. Breck

Hey Blake-- If you have time, please see if one of your professors can outline the capital gains calculations expected for 2004. I can't find the article that talked about a quarter of the profits being taxed, not the full net. (full net? an oxymoron?)
The net being; Selling Price - purchase price - bank transfer fees = net gain.

You're right, this has been very addictive. Several people have said the same....

http://www.oxymoronlist.com/

:)

Blake, you are such a damn lawyer. (That was meant as a joke, I promise)

I would just like to say that one should not expect the news to show anything positive for quite some time. A lot of us who have served tours in Iraq came home, saw the war coverage and were just stunned. I know it's already been talked to death, but I feel obligated to reiterate that the major news outlets have no interest in reporting anything good. I have served in Iraq and I have seen the good aspects with my own eyes. Iraq will recover

hey guys great fourum i've been following along for the past 2 days and i have also invested in dinars. Is the general consensus still that the world bank will be open and operating in Iraq late july/early august? I am also one who is waiting for some more dinars through the mail and don't want to miss the boat. any input appreciated

MT

Thank you for your service Jeff, Welcome Home!
There's plenty of good press out there, you just have to find it. Stick with Fox News, National Geographic, WABC talk radio, hannity.com has an internet broadcast too.
Good Luck and God Speed

Hi MT -- Welcome to Dinars Anonymous. As you can see we're all addicted to Iraqi Dinars. I have another order for 2mil coming in the mail as well...

Best of Luck!

Hey J --- Do us a favor ?!? Since your in Iraq, scan the local papers for dinar info. Or, if you have time, check with the banks? I know it's dangerous, even on an Army base, and I wouldn't want you to do anything crazy. Just let us know what you hear...
Be Safe

MT
as for he world bank in Iraq I have heard end of july and november both were confident answers when given to me I dont know what to believe

thanks for the info I talked with my dad today he is in iraq working with KBR driving tankers and said our dinar thing is right on track. in fact wants me to send him more money for dinars .the way he put it is were in the ninth ining with this thing.with the good news cooming from iraq i think we will all be having a good christmas.the things jeff said a little bit ago hits the nail right on the head. my dad said the same thing.IRAQ WILL RECOVER.hes looking at it with his own eyes. and jeff thank you for your service

sorry steve i put your name on my last post MT

REPOST:

Anybody have any info on this subject? Do you need a licence to trade currency in bulk? I haven't seen this area addressed yet on this forum.

`Sec. 1960. Prohibition of unlicensed money transmitting businesses
`(a) Whoever knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business, shall be fined in accordance with this title or imprisoned not more than 5 years, or both.

http://www.epic.org/privacy/terrorism/hr3162.html

Mike,
I saw that info in one of M&M's links I believe, and from what I read further on under that federal statute, it applies to people in states that require licenses for money-transmitting businesses. So some states may not require one. But I imagine it might easier to get a license than we may think in any event.

No prob steve. It's nice to hear once in awhile.
Thank you.

this whole dinar thing has sure opened my eyes on iraq and how thoes poor people live over there makes me very greatful to live in our beloved united states.

Hi Steve -- You must be very proud of your Dad. He's a very brave man amd I give him a lot of credit, risking his life to help rebuild Iraq.
Thanks for the info from Iraq. If you don't mind paying a little more than you would on the streets of Iraq, PortAlIraq.com sells a million for $1085, free Fedex shipping. The dealers name is Chris and she's terrific. Fast delivery and friendly service. They also provide tracking for your package. I just placed my third order with them...

I am over here in Kuwait and I just heard that on Yahoo News it states that the Iraqi Dinar hit at .51 against the Dollar. I can't find anything to back up the rumor, but we have people packing their bags to cash in and go home. If anyone has any news or anything to back it up please let me know.

Thanks to all for all the info on investments and accounts/banks. All info is appreciated.

M&M and fellow investors,
I will post every and any new info on the dinar from Sunny Iraq as I get it.

As for the other guys who have stated about the recovery of this country... It is 110% correct. It is very apparent in the cities and the country folk are equally anxious to hit the road running. They are all also very serious about not putting up with the insurgents or acts there of. They are VERY Proud people and love their country. From talking to numerous individuals they have been waiting for this opportunity for too long and insist that they will be a very strong and powerful country, how can they not be, just look at all the Natural Resources this country has. It's friggin amazing!
As for the Big "O" (when will it Open)... They keep saying very soon. They don't have an exact date but are just as anxious and hopeful as we are.

so far in 1 hour the dinar went up to 1456 and down to 1446 on xe's site.as far has 51 cents to the dollar we have a better chance of winning the state lottery lol

Stacey, could you provide a link to where you seen that at. I'm ready to go home too!!

http://www.isx-iq.net/

thats the website for the iraq stock exchange i hear coca cola is trying to buy out the baghdad soda company in iraq but are worried bout security issues,can you imagine if anyone has stocks in coke and they start business in iraq..big bucks for sure.

Good Morning -- Stacy sure gave us a wake up call!
Checked all the foreign exchange sites:

RateUK 1150
UNIDO 1460
Bloomberg 1460
OANDA 1460
NBK 1239
XE.COM 1446.48 (down from 1446.09 yesterday)
ICCFX 1456.9533 (they finally updated their rates from the old pre-gulf war rate of $3 per Dinar. Did anyone call them, like we did with OANDA, to get them to update? Or are they preparing for something? Hmm...)

Couldn't find anything on yahoo news to support Stacy's announcement... so far :)

Bagdad Stock Exchange

Oh my God, Tony! How could you do that to me ! :)

Did you read this ? "...Rolling out over the coming weeks, 5 new companies per week"?? Broker accounts held from before the war ready to pop... Holy Cow!

I'm still grappling with my Dinar addiction. My husband will flip if I start investing in the Iraq Stock Market. I'd have to strap my laptop to my chest and carry it around. You think it's bad watching dinar grow, ha!

I actually didn't see it on Yahoo. A friend of mine gave me a printed out page from Yahoo news that reads.......

Breaking News Alert
BANGKOK,Thailand (AP) Associated Press reports that Thai Banking industry is taking the first major step to recognize the value of the fledging Iraqi Financial market. The international Bank of Bangkok has valued the dinar at an ititial rate equivalent to 20 Baht, or .51 of the American Dollar.

I have looked all over hell and back for this artical but can't find anything. The printed page is definitely from Yahoo just can't find anything to back it up.

You're killing me here, Stacy! Is there a web address printed at the bottom of the page??

I am currently on R&R in Thailand. Stacy is right I called my broker and he advised me to cash in immediately. Jump now!!!!!

lmao m&m i knew some people would get a kick out of it,i havent spent much time on it yet i still need to see whats going on.

Who know more about what other Major companies are setting up shop in Iraq??

Which Vendors.... Examples... Frito Lay?? Verizon??

Any Vehicle Manufacturing Companies??

Anything????

hyundai is one

a $500 million contract to major Iraq contractor, California-based Parsons Delaware Inc., for the construction and renovation of public buildings in Iraq.

Lucent Technologies has been awarded a contract by the United States Department of Defense to help rebuild, restore and modernize communications systems in Iraq. The contract currently has a value of up to $75 million over two years, with the option of spanning a total of five years

http://www.rebuild-iraq-expo.com/news_details.asp?id=342

http://www.rebuild-iraq-expo.com/news_details.asp?id=341

http://www.rebuild-iraq-expo.com/news_details.asp?id=340

http://www.rebuild-iraq-expo.com/news_details.asp?id=339

http://www.rebuild-iraq-expo.com/news_details.asp?id=337

there are so many its would take hours to post all so just go to this link and read it,it has day to day happenings in iraq

http://www.rebuild-iraq-expo.com/news.asp

Tony I knew that some on e would pick up on my thread "Dinar may go up" on The Portal Iraq site... not surprising seeing as how it has over 2000 views almost doubble that of charP and Danpeg.

as I said on that site the coca cola thing looks good. I spoke with Mr. Fettal of Albakra bank in Baghdad and he said opening up an accout there is not a problem. Its just I have to drive from Kuwait to there. I have to date 50,000,000 IQD and holding. Im going for stock and an Iraqi bank account because its 1. offshore 2. wont have to worry about currency demonitizing or currency change.. and as I said on Portal Iraq predidential order 13303 allows you to invest in currency, stock, buisness, bonds, and realestate.

Chad -- How? It's not traded in the US yet?

By the way Stacy Im working for ITT as a Q.C. on Arifjan and m&m this is the best board yet. :)

I am not in the US, I am out seeya, Just transferred 4.5 mil

ive searched my fingers to the bone and cant find anything bout thailand and $0.51..lol even there website bank of thailand has nothing bout it.

The problem we have no is the CPA is disolved, there fore we have no "eyes" on whats going on hell roumer has it that they quit auctioning off dinars and are buying treasury bills. Would make sense since the world bank has recognized them and IMF is waiting on the Paris Club to find out how much debt they are going to let go so the IMF can start pumping them. World bank is doing 34 bil who knows what the IMF is going to do..

chad how many dinars you trade in?

CHAD ! No Way ! You're just pulling our leg?!?!

Chad,
Your joke is not so funny!
But man did you have me scrammbling. ;)

I called the Bank of Thailand and was told they do not trade in Iraqi Dinar...

Chad,
Your joke is not so funny!
But man did you have me scrammbling. ;)

lol,i knew he was bs'ing thats why i asked him how many he traded in i wanted to see if he even knew how to calculate it..lol

lol,jerry didnt know that was you over there

LMFAO m&m called Thailand for noting too cute!!!

m&m no one in the world will touch the dinar untill the world bank enters iraq wich is anywhere from july 31st to november

m&m aint messing around she got her new lexus on hold =)~

ya man I'm eeeeeeeeeeevery whereeee.... lololol

Hey Jerry,

I'm in the middle of no where at Camp Buehring, formerly Camp Udairi. I hope this guy Chad is not BS. I wish I just had some hard facts to back it up.

The big issue here for Iraq and their economy is
the forgiveness of the current 120 billion is debt racked up by the old regime. The Bush Admin favors forgiving 90% of the debt, which would be great for Iraq to rid the shackles on them. If none of the debt is forgiven by the IMF the Iraqis will have alot of problems as the economy is only about 16 billion GDP, mostly oil. The Europeans, mostly French, want to get paid back. I suspect some sort of compromise allowing French firms a piece of the future in exchange for forgetting the debt. In any event, the short term outlook for the new Iraqi Dinar hinges on this. If alot is forgiven the currency will benefit greatly, if none is forgiven then the currency will be very, very weak. No matter what progress is made in rebuilding, the current debt is too high and the Iraq economy and currency will suffer unless they can start with a clean slate.

the only people i see standing in the way are the french i say just offer them some big contracts.

LOL -- Great adrenalin boost first thing in the morning! Didn't have to call Thailand tho, they're here in NY. Also spoke with the nice folks over at the Bank of Kuwait in Manhattan They're trading dinar at 1239 but only in Kuwait.

And Tony, it's a jaguar, black convertable, walnut dash, chrome trim... oh yea!

also i cany help but ask this question to everyone,at what point do you cash in?i mean if it goes up to 25 cents,then next day 27 cents,then next day 24 cents,i mean what are you happy with? or are you the ones waiting till it hits 1 dollar? 2dollars?im thinking bout cashing in half just for personal stuff then leaving the rest in the pot,incase it hits something really worth writing hom about

there is some many to be made now,not much like if you drive to iraq and buy 50 mil dinars it would cost you $34,246 then drive to kuwait and sel it to them at 1239 apieace youd make $40,355 a profit of $6,109 not bad for a days work lol

m&m im sorry to have insulted you with a lexus..lol

No problem Tony, You'd need an armored hummer to make that trip tho ! :)

Hello everyone, MY MANE IS MO AND I'M AN ALCOHOLIC .. Oh Sorry I ment Dinar addict (just kiddig). I'm in since 1/2004. I've been doing my homework like most of you (bty, you're all great bunch)I've been watching NID daily on almost all of the links you know, till I got to this forum. I don't have to do the work anymore. I read the whole thing and follow. but then I felt like this is unfair. I have to give back. and I remembered what I was looking for when I got to your forum. As an ex day trader, I'm not only concerned with the value of the NID but also the valume being traded specialy with supject that has a very thin market like NID. I was getting that from the CPA site. as you all know this is no longer working. to make long story short, to compensate lack of valume info, I picked ebay as alternative. before I see how much they sell 1 mill for I see how many offers ,how many completed items and count how many mil's are sold. the good news is the numbers are very good my friends. within the past 10 days, offers went down from 250 to 160's, completed items doubled from 475 to 950's, all new offers are very small quantities and the prices on the new listing alredy up from 850 to 900 and going as of now
I hope that mean somthing to any of you.

Thank you very much.

I really don't know how much is enough to be honest... I'll most likely cash in 4mil if it opens at .30, and hold 2mil for 3 - 5 yrs hoping for it to go to $1. If it only opens at .01 I'll probably only cash in 2 mil and hold 4...

(In Unison, please) Hi Mo -- :)

Welcome to Dinar's anonymous... We're all here playing the waiting game. Stacy got things moving earlier, Tony's tempting everyone with the opening of the new Iraqi Stock Exhange (Something you might be very good at ;)*nod*, and you bring us good news from ebay ! A great day all around, so far. You're absolutely right, higher prices and smaller offerings are just what we want to see, now that we're done buying. (Had to hide the checkbook,lol)

http://fxtop.com/en/historates.php3?C1=USD&C2=IQD&DD1=06&MM1=06&YYYY1=2004&B=1&P=&I=1&DD2=06&MM2=07&YYYY2=2004&btnOK=Go%21

Friends i just want you to take a look at the 2004-06-14 --> 1 USD = 800.063061 NID

Thats why we have to keep our eyes at the daily Exchange rate of the NID we may miss it again because if i relized it rised that much i would sold it cause that will be enough for me cause i have 15,000,0000.

Hey guys,
Since everyone here is always looking for more info, I figured I could add this little bit of personal info indicating a historical track record of success investing in Post-War Currency Trading....

Nne my investors in my small group of friends and family is an 86 yr old Multi-Millionaire/grandfather of my best friend who was actually around back in the 1940's and actually took part in investing in Post-WWII Germany Currency at a time he was almost piss-broke.

The great success he had investing in Post-WWII Germany currency jumpstarted his wealth and enabled him to take his first steps to where he is today. And he said Germany was anything but a cohesive nation after WWII.

FWIW, he has invested in the stock market for over 50 years throughout his successful career in commercial real estate, and he stated that now after many loopholes in the stock market have closed, the Post-War Currency Trading in the right situation is one of the few remaining places to make alot of money off of a small investment. He personally bought 5 Million Iraqi Dinar as part of our group without discussion.

I hope we all realize Chad was pulling our legs. ;) That's just too soon & too much of a dramatic spike for it to be true.

$0.51 is not impossiable i honestly think it will hit that much by feburary 2005,well maybe not cause by december im lookin at $0.25 cents so maybe by august of 2005 is more like it.

chat or stacy Please for any information regarding the (thiland & the NID) support that with an artical.

The Iraqi merchants on the base I am at are selling 1,000,000 NID for $770. Unfortunately, the Marine Corps dispersing office on base only disperses up to $500 a month to Sergeants and below and $1,000 to Staff Sergeants and above. Looks like I'm getting owned. I only have 2 months left here so all I can get is about 2-3 million at this great rate. I checked the exchange rate against the value posted by http://wwp.greenwichmeantime.com/time-zone/asia/iraq/currency.htm and it looks like the Iraqis are making about an $85 profit. It's alot less then the profit the guy at http://www.investindinar.com is trying to make.

M&M - The ability to invest in the T-Bills will probably not come until the WB is in Iraq. Most major investment firms would not touch a trade like that without the backing of the WB. I wouldn't mind investing in that myself, just hope the WB gets in there fast.

MAX - The formal exchange rate for the US will come after the WB has compiled what it needs to open it up. It will take them 3 months to compile their info, so if they come in by the end of July, we should see it open up by November.

John - I'd worry about a tax expert that says you would have to pay no taxes. What we all are doing is called Currency Speculation. It's no different than Stock or Real Estate speculation. It is covered under the Capital Gains Tax.

JD - They buying and selling of the dinar is going to make it fluctuate. Even if a bunch of the Egyptians cash in millions, there will be international investors who will be buying millions. The buying will more than likely out weigh the selling, about a 60-40 split. US Banks and investment firms want you to stay away from it because they can't make money off you that way. All these places that say it is risky will be buying millions and even billions of dinars. Banks also can charge for foreign currency, so that is how they make money.

If it comes out big (like .25/usd or higher) you may want to cash in a little but don't dump off too much. This is an investment that will grow in the thousands of percents. What I am going to do is sell 500K which will be many times what I invested. Then I'll sit and watch before selling any more. Anything after that is pure cream on the cake.

Does anyone currently on the ground in Iraq know if prices are in US$, NIDs or both? If so, what is the price of a common item like a Big Mac or a satellite dish? I read there had been over .5 million satellite dishes purchased since "major fighting" ended.

I feel like current price info can help us to determine the impact of a huge appreciation of the NID. For example, say the Big Mac is currently 1 US$(~1460 NID). Assuming an opening market exchange rate of say 1US$ = 1 NID (wildly optimistic!), then wouldn't it be ridiculous to assume as well that a big mac costs 1 million US$? I'm just curious about how this would work in reality. No one is going to be paying a mil for a burger, but i'll be buying a few!

Jared or M&M,
Could one of you guys explain what T-Bills are exactly (I've heard of them) and how that type of investment would work in this situation? I'm unfamiliar with it.

Much Appreciated,

Irum,

Most of those sites haven't updated because they were get-rich-quick sites that probably folded. One of them, Iraqidinarinvestments.com is locked by a lawsuit by Parava.net for an undisclosed reason.

FirstDinarfinancialgroup.com and Iraqi-Dinar.com are both registered to Glenn Cope via GoDaddy software. GoDaddy will not validate them as an actual business.

NewDinars.com, owned by Kristopher DiMarco is probably a single entity trying to cash in.

Daystartrading.com, owned by William Burbank of Reno, Nevada, probably the same as DiMarco's.

BuyDinars.com, owned by Lion Capital Group, is the only one in your list that is at least owned by a financial group. They may have walked away from this due to the difficulty in purchasing a large enough quantity to do business.

So sorry Irum, I'm not going to get disappointed by your very flimsy websites that probably can't afford to pay anyone to update their sites.

Please do not describe yourself as part of a Research group, because you obviously don't do any research.

Keep up the faith folks! Skip Irum's posts as they are rather pointless and factless. The only thing you need to understand is that you are not going to be an instant millionaire. You will, however, be one in time. The wave that we are riding has many miles to go before it reaches the shores, just keep the faith and stay on your board!

Blake,

T-Bills are Treasury Bills. They are sold to generate operating capital. In this case, they are selling them to operate the government. The US aslo sells T-bills as does just about every other country. Most have a fixed interest rate that could make it a nice little investment considering the dinar raises in value you will get that along with what interest rate they provide. I have yet to find out what that opening rate will be. I don't think we will be able to invest until the World Bank steps in. But that my not be the case if the stock market is back operating. We should hear more news on this in the next couple weeks.

Ben, the prices of goods and services will change depending on how the currency is valued. When Germany had wild currency devaluation, the cost of a loaf of bread soared, because the money was almost worthless. So, assuming that the dinar steadily appreciates in value, the cost of goods in Iraq (in dinar) will decrease. If the value of the dinar goes up by a 10-to-1 ratio, the cost of a Big Mac (in dinar) will decline accordingly. Not even a company as powerful as McDonalds can get away with charging the equivalent of U.S. $1000 for a Big Mac.

For example, when the Euro came out, it was initially very weak against the U.S. Dollar. The purchasing power of the Dollar was strong by virtue of that conversion, and the purchasing power of the Euro was weak. Now, the Euro is surging against the Dollar, and the roles have reversed.

Great site, everyone. Much, much better than Fat Wallet. I enjoy the reasoned analysis.

Hi guys, Great Info. Lots of discussion about Dinar. We are in very interesting times. Do you recommend a place/website where I can buy (other than EBAY) about 5 million, reliable way? From http://www.oanda.com/convert/classic

Tuesday, July 6, 2004

1 US Dollar = 1,460.00 Iraqi Dinar
1 Iraqi Dinar (IQD) = 0.0006849 US Dollar (USD)

How much above exchange rate is reasonable for somebody who resides in US (assuming I am not desperate!). You guys are experts in this field. Any advice is much appreciated. Thank you.

can someone make any sense of this for us?

http://www.isx-iq.net/page/daily-bulletin.htm

there are 2 reliable sellers on ebay bro one named dima89 the other named j.b trader they have over 3000 feed backs and are ebays #1 sellers for new dinars you wont go wrong with eiter of them.

I read the other day that De La Rue received somewhere in the neighborhood of 115 million $ for the printing of the new dinar. Has anyone been able to find the actual amount of currency currently in possession of the Iraq Central Bank? Or for that matter the amount of NID currency in circulation, or released by the central bank?

Since we're in the business of currency speculation, in my opinion the less currency in circ, the more valuable each dinar is, and the better off we are.

tony regarding -->

http://www.isx-iq.net/page/daily-bulletin.htm

Iraq Stock Exchange / First Trading Session 26.06.2004

Yesterday i posted an artical of the opining day of the stock market is gana be today .

In my opintio they are using US Dollar instatde of NID because it says that opening price is 10 --> keep in mind that is the lowest currency in Iraq right now is 50 ID as i know.

Tony,

Looks like mainly the banks in Iraq that are selling stock. This may be a re-issue of stock, that is, the old stock may have been deemed worthless under the old regime. I'm sure Saddam had his fingers in that somewhere. So the banks are probably starting at square one, buy issuing stock for capital and operations. I checked the others too, like the weekly and there was no info yet, so they are still working on compiling information for the website. The IMF will not come in until the World Bank is up and the framework of the stock market is up. This is very good news! I'd love to see the WB and IMF in there before the end of July, and that might just happen!!

Netcom,
jaki2000, from my research, also looks to be the one of the best Ebay sellers. I didn't go through him though, b/c he didn't give me a discount for a bulk purchase (I also bought upwards of 5 Million). But jaki2000's delivery time looks to be very quick, about 5 days judging from his feedback. jb.trader looks to sometimes take about 3 weeks so you have to balance what your concerns are in purchasing. Additionally, it looks like as of today, jb.trader does not have any current listings. I know from talking to him over the phone that he was dealing with a supply problem b/c of the overwhleming demand. may be a short-term problem, but I'm not sure right now.

Jared IMF already in Iraq . In cnn they mensioned that. i don't remeber the reference but i am sure thay are already in place.

i just noticed j.b trader is not there,in a way its a good thing that he couldnt keep up with demand shows more and more are buying,jaki2000 does have decent prices may put in a small test order can never have enough honest people to buy from

Thank you, Tony and Blake.
How much were you able to negotiate with jb.Trader? Any other choices? Thanks

http://portaliraq.com/buy-iraq-dinar.php

I've been using this dealer. Her name is Chris Papatheofanous. I've made several purchases from her. She has the currency shipped Fedex(free) direct from Jordan. Friendly, reliable and fast...

honestly j.b trader wont budge from his prices there pretty much set in stone even when i wanted to buy 3 mill from him he wouldnt even give me a 5 dollar discount..lol the only one i was able to negotiate with was dima89 he once gave me a deal for 650,000 dinars for $500 this was bout 4-5 months ago i dont know if he would do it now.but hes a really good guy i think im gona email him and see what he can do for a oddball amount.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=385&item=3919740311&rd=1

ebays prices are very tempting...

m&m antiqes is a decent person to deal with ive bought a few 25000 dinar notes from him one of wich i just won last week for $26.95..lol he starts his items really low but once it gets down to under 10 hours thats when you gotta watch the back door people jump and take it from you

heres a guy to be weary bout

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=4369&item=5708374428&rd=1

selling (4)x25,000 dinar notes=100,000 dinars starting bid only $12.00 i checked his feedback 16 of the 17 feedbacks are by one person and that person isnt a registered person at ebay anymore becarful for stuff like this.

Netcom,

Dima89 is the best one on eBay. I've purchased about $15M from him alone. I've never waited more than 3 day's to recieve my order. JB.Trader was actually selling what he didn't have. He was buying them after the auction which to me is not good business. Dima89 however has been the best one to deal with. I had some friends stationed over there for a while that I was buying from, but when they came home, I started working with Dima89. He flat out is the best (IMHO)!

ya you wont find anyone cheaper online ebay or websites

M&M, I see even more tempting another price: 7.5 mil for $6120 (1 mil=$816).

I read the price in Iraq is $770 from one of messages above (with local profit of $85 or so). That was second part of my question. How much is reasonable to pay above exchange rate/rate in Iraq. Thank you.

Abdullah,

The IMF is not yet in Iraq. What CNN reported is that the talks are going forward for the IMF to come in. If you go to the IMF website you can read the press release from Thomas C. Dawson, Director, External Relations Department.

The IMF team has been there for talks, but IMF has not set up an office as of yet. The IMF also needs to have the World Bank set up as they are a key element of the Iraqi stock exchange, and that is what the IMF is coming in to fix.

Netcom,

At this point you'd better not be so concerned on price as you should be on the time you have left to decide. One thing to consider is that the World Bank has been in talks with Iraq for quite some time and could do what they have to do from a remote site without the need to come into the country so soon. There are many options in the talks that we are not aware of. It could open tomorrow for all we know and then you will not be able to touch it at the price you can get it at now. I'd grab it at $816/mil.

First, I want to say thanks to Jared for your all of your informed input to the board. Especially thanks for the input about jb.trader as to why his shipping takes so long. I bought from him the beginning of last week, so I will keep my fingers crossed nothing goes astray.

Netcom,
jb.trader does not budge from his price of $860 per Million, but his price is already pretty much bottom-dollar in terms of Ebay sellers, and buying 9 Million from jb.trader at $860 was much cheaper overall than buying that same amount at $898 from jaki2000. That's all I meant.

Good luck.

Thanks Blake!

I only purchased from jb.trader once, several months ago. I had sent him payment via next day service. It took 23 days to get my order. After about a week, I started emailing him to find out a status. He stopped replying. I then mentioned that the money order was from the US Post office and I'd sick the Post Master General on him if he didn't respond. That seemed to get his attention and I received my order. Can't believe he puts 95 available when he doesn't have any of them on hand.

Also folks, I had asked Dima89 about a month ago if he would match jb.traders price, and he did. So you my want to send Dima89 an email and give him the auction number of jb.traders dinars and ask if he will match. Chances are that he will and you can get them delivered very fast!

Thanks jared for clearing that.

were at the point where we cant be picky anymore,were complaining and lookin for cheaper pleaces to buy,and watch 5-6 months from now dont be suprised to be paying $2000 for 1 mil dinar and we will look back on this and say man i should have bought them when they were $900-$1100

hey everybody...i love reading what everyone has to say...i wish i didnt have to work, or i would sit here all day...it's so so addicting. i got my dinars today!!! they are so pretty, and i have anohter 1 mil on the way!!!
i wanted to ask...once the dinar hits the world market, do you think that most banks will exchange them, like bank of america or wachovia, or will we have to use international ones, like wells fargo?
and my other question--does the bank of kuwait in nyc exchange the dinar yet, or will they wait to do so when it hits the world market??? if anyone knows, pls let me know. thanks so much.

i think everyone has forgotten your local currency exchange those stores keep as much has $200,000 u.s currency in there safes once the world bank starts up im gona exchange some thru them,but i know there fee is gona kill me but this is just something to keep in your back pocket but once it is accpeted i would think any bank would change them.

Hey Mallory!!

Any US bank on the World Bank backbone will be able to exchange the currency. BofA, US Bank, Wells-Fargo, Wachovia, and many others will do it. You will need to contact a local branch to see if they will do it -vs- having to go to a bank headquarters location. Where I am at for instance, the US Bank main branch is the only one that does international exchanges. The exception up here is Canadian since we are by the boarder almost all branches exchange Canadian dollars.

I've been waiting to hear someone comment on the Kuwaiti bank in NYC. I would assume so once the dinar comes on the market.

Tony,

You may want to consider US Bank if there is one around you. Their exchange fee is only 4%, I'm not sure if that is better than the exchange companies, but 4% is not bad.

Congratulations Mallory !! Yes, they are beautiful!

I just happened to call the Bank of Kuwait in NYC this morning, (No comments Tony :) and the nice folks over there told me that they are only trading within Kuwait and that they only do business in NYC at the wholesale level, no retail services available in the US. She also said that once the ban is lifted it will be exchangeable like most other currency at commercial banks and services like American Express. Amex has an exchange in mid-town Manhattan. They said you'd have to call ahead to arrange any large amounts.

theres many banks around me,but im saying if for some ungodly reason your local bank doesnt exchange them you know currency exchange will and i know its gona be more then 4%,i once changed 50 dollars canadian into u.s cash currency and they charge me $9 just for that.

i just calculated it they got me with a 18% fee so imagine exchanging 100,000 dinars at $.10 a dinar instead of $10,000 u.s currency youd only get $8200 so 18% fee is what it looks like they charge

LMAO m&m

Hey Blake -- Nice Historical on post-war currency, thanks!

Hey Pete -- "Semper Fi" from the 119 U.S. Marine Corps JrROTC Cadets at Tottenville HS, in NYC !
Only 2 months to Home !? That's great. God Speed and Good Luck with the Dinar.

HSBC bank will trade currency (once it's on the world currency market), if you open an account, for 3%
Wells Fargo tells me that they will do a currency conversion for 5 dollars per transaction

tony

I said that when the NID where cheaper in last January. and exact this is the game after period of time the exchange rate will move and other people say i wish i could bought them when the exchange rate was at "?" .. That what i think that the rate will move down slowly withen next tow years for two reasons. i dont belive that next day i am going to wake up and the rate is .33.

1) the average guy in Iraq will be a millioner (no way)
2)there is no bill less than 50 bill (no way)
there must be more that i dont know but that what i am thinking of right now

m&m
Sorry I had to go for a drink :-))
Thanks for responding, still demand going up and supply going down on eBay ... basic economy.. Prices will go up definitely. Regardless IMF, W/B that is good news for me. for those were asking, De la rue printed 6.2 trillion NID 6200000000000 about one dinar for every person on earth 4.3 in circulation.

m&m
Sorry I had to go for a drink :-))
Thanks for responding, still demand going up and supply going down on eBay ... basic economy.. Prices will go up definitely. Regardless IMF, W/B that is good news for me. for those were asking, De la rue printed 6.2 trillion NID 6200000000000 about one dinar for every person on earth 4.3 in circulation.

could someone tell me where the proof is that the world bank will step in before november

lol,you guys gotta remember when the dinar goes down its only good for us,not for people living in iraq so no the average guy in iraq wont be a millionaire cause last year when iraqis were trading in u.s currency they were getting 4000 dinars for each now there only getting 1460 for that same amount 1.us currency so before 1 american dollar would have bought milk,eggs,toilet paper,now only buys eggs see what i mean only way it helps them is itm akes there country rich and jobs plentiful but as far has them profiting from this not much in it for them

also beware of counterfiters? I just heard from a friend that there has been a ring of countrfitters busted in oklohoma dont know if its true just what I was told

Roger, did HSBC or Wells Fargo happen to say whether or not they automatically convert deposits from IQD to USD? Smith Barney allows accounts to be held in selected foreign currencies but IQD is not on the list yet.

http://www.smithbarney.com/products_services/other_investments/foreign_exchange/fxbasics.html

you making a good point tony , but i still don't understand when you said "ou guys gotta remember when the dinar goes down its only good for us"
--> so lets say
the today exchange rate is
1 USD= 1460 NID
after period of time it becames
1 USD= 1200 NID

is that good or bad ?

Jeff
both said conversion would be real time, but remember ( when it comes on the market)

This is for steve.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2004/July/business_July36.xml§ion=business

Sorry for the silly question roger, but "real time" means atomatically converted?

Cool stats Mo, thanks! Hope it was a tasty one :) Did you get a chance to look at the ISX yet?

Tony...

I'd like to add my comments to Abdullah's 2 points.

I consider the opening rate of .33USD per IQD a fair and appropriate restoration of the Iraqi's wealth. As an Iraqi man with 50mil Dinar in the bank before the war, I am a rich man. This same man during the war, has nothing. We must, at a minimum restore the wealth they had pre-war. These men are not "waking up rich" one day. They're hoping to get their lives back.

With regard to the minimum currency, I believe they use coins for amounts below 50. Like quarters to the dollar? I could be wrong but I think I read it along with comments about how happy they were that there were many more options now than they had before. I'll see if I can pull up the post...

I believe there is a smaller denomination...called a fil. I forget how many fil=1 dinar or how it all works.

That's all I got.

Value of Dinar

A great article in dinar valuation from the Kennedy School at Harvard Univerity. I only posted the summary. The link will take you to the article.

"To fix the dinar (or other countries' currencies) simply to oil alone may be too radical a proposal. While it would facilitate the recovery and expansion of the oil sector in Iraq, it might at the same time discourage production of other internationally tradable goods by shifting the entire burden of price uncertainty onto them.

My proposal for Iraq, therefore, is to add oil to the basket of currencies to which the dinar is to be pegged.

For simplicity, give equal value weights to all three units. Or, what is almost equivalent, define the value of the dinar as one-third of a U.S. dollar plus one-third of a euro, plus one-one-hundredth of a barrel of oil.

Unlike other proposals for nominal anchors, this is one that an oil producer like Iraq could live with even if there are big swings in international exchange rates or world oil prices in the future."
http://www.pwc.com/extweb/newcoweb.nsf/docid/7B3682DA4F62B17885256DF0005B03A3

By my count that's a basis of 33 cents +++
Tony, your good with numbers, what would that be today?

.33 would be a third of the face value of your NID.

abdullah if the dinar goes up its good for them bad for us,if it goes down good for us bad for them

Blake,

1000 Fils = 1 Dinar. The fils come in 1, 5, 10, 50, 100, 250, 500 and 1Dinar (1,000 fils).

I think when the dinar starts to rise, the larger bills will go out of circulation and others will come in. I see the 1, 5, 10, and maybe a 25 dinar note to replace the 1K, 5K, 10K and 25K notes. Makes sense when you look at the denomination values.

m&m well a third of the current value of the dinar is 468.60 dinars

third of the curo value is $0.41 wich is 41 cents

and one-one-hundredth of the current price on oil barrel wich is around $45-$50 a barrel would be 45-50 cents

M&M great artical Iraq's Currency Solution

tony i know i sound stupid put but what do you mean by up or down

if it shifted from 1460 to 1200 is that up or down

Abdullah,

Many Iraqi men were millionaires. They were buying up Kuwaiti dinars like crazy and cashed in this same way. Bringing the dinar back to the pre-war level will bring balance back to the Iraqi people. This will also bring with it, faith in the new Iraq.

There is currently no bill lower than the 50 is true. But as the dinar goes up, smaller bills will be made and the larger ones will stop being circulated.

if it goes from 1460 to 1200 then it went down wich is good for us the closer the number 1460 gets to 1 is good the more further the number 1460 gets from the #1 is bad for us.

Thanks Jared,
I also thought that as the dinar rises in value they would slowly pull the 25,000 notes out of circulation as people deposited/exchanged them.

What did you think of the Harvard article posted by M&M? It sounded like extremely good news to me. oh, I emailed you about a further quesiton i had.

thanks.

Tony,
I believe you have some of the concepts switched around. I think Jared can better explain to you than I can though.

The only way an appreciation of the dinar would be bad for the Iraqi people is if they were still paid in U.S. dollars, which won't continue to happen as Iraq gets on its own feet and the dinar becomes an established currency. An appreciation in the Dinar is not bad for Iraq.

got it tony

...define the value of the dinar as one-third of a U.S. dollar plus one-third of a euro, plus one-one-hundredth of a barrel of oil.

.33 + .41 + .45 = $1.19

M&M, that's what I came up with as well.

were both 50% right if they get paid entirely in dinars then there good to go,but im sure there will still be alot of u.s currency around and for those people that are stuck with it they will suffer,but at the same time we need to remember has the country gets stronger,richer so does the cost of living there so your getting paid more but cost of living has risen,but i think people wont care at that point cause of all the jobs that will be availiable to the people.

$1.19 would be a golden egg for us..id collect my 11 mil+change and throw a big party with all of you invited,im sure you can find some time off from work ;)...lol

Blake,

Emailed you a reply already. Should be in your inbox.

Hmmm Jared,
I didn't get it?

Ok everyone, let's take the Harvard bit a step further.

If they want to peg based on PEP, why must it be one commodity? Iraq also has an enormous date industry. At one time, it was $18B/year and that was half of what oil brought in. Why not base the PEP on all exports? or at least the two biggest?

Now that Iraq can start building again, you know full well that the date industry is going to be a big one because it creates a lot of jobs. It takes a lot of manpower to run a date crop.

Now if oil was to drop a little, the dinar could still be supported or supplemented by the date industry. It would seem that the more things you could get in the PEP to peg the dinar the better. If one industry has a bad time the others can support it. Hmmmmm

Blake, I sent it from my other account, check your inbox again.

ahh.....time delay. just finally arrived. thanks man

well since that report was written in fall of 2003,it would be great to see what they think now if there views have changed better or worse,im gona see if they have a email and see if they can give me anything to think bout.

That's brilliant Jared ! I knew that the Kurdish agricultural resources had barely been tapped and will become a big part of their GDP in the future, but, "Dates"? Yummy !

Anyone here into commodities trading? Can we invest in the biggest date crops in Iraq on the ISX?

http://www.pwc.com/extweb/newcoweb.nsf/docid/C11698DD3B8DDFFB85256E630069E4A4?OpenDocument

thats an updated version to M&M's article ;)

Save me a parking space on the lawn, Tony :)
I'll be there with bells on...

i'll make room in the drive way for your jaquar..lol

ok i looked into the commodities trading on the iraq stock exchange this is what it tells me

All investors seek fairness, efficiency and transparency. International investors have lots of choice in deciding where to invest. They favor markets that provide a superior level of service and efficiency of execution and settlement. They demand minimization of settlement risks. To meet these requirements, the Iraq Stock Exchange is seeking to implement an automated Trading, Clearing, Settlement and Depository system called BEST (Baghdad Electronic Securities Trading). This section contains the BEST Technical Specifications.
Initially BEST will be used to trade equities and debt instruments. Settlement will be performed using BEST. As the market grows and becomes more sophisticated, other instruments such as options and futures may be added.

ALSO THESE ARE THE BROKERS ON THE IRAQ STOCK EXCHANGE AND THERE EMAIL ADDY'S

Brk No.
English Name E-Mail Address
B110 Alsinaee Bank alsinaeebank@isx-iq.net
B120 Alzeraee Bank alzeraeebank@isx-iq.net
B130 Rafidain Bank rafidainbank@isx-iq.net
B140 Rasheed Bank rasheedbank@isx-iq.net
B150 Baghdad Bank baghdadbank@isx-iq.net
C160 Okadh Co. okadh@isx-iq.net
C170 Almutahida Co. almutahidaco@isx-iq.net
C180 Alkassab Co. alkassabco@isx-iq.net
C200 Babel Co. babelco@isx-iq.net
C210 Alfurat Co. alfuratco@isx-iq.net
C230 Altemeem Co. altemeemco@isx-iq.net
C240 Alsadoon Co. alsadoonco@isx-iq.net
C250 Aliraq Co. aliraqco@isx-iq.net
C260 Dijla Co. dijlaco@isx-iq.net
C270 Alshimal Co. alshimalco@isx-iq.net
C280 Alrafidain Co. alrafidainco@isx-iq.net
C310 Albaraka Co. albarakaco@isx-iq.net
C320 Alshorja Co. alshorjaco@isx-iq.net
B330 Altijari Bank altijaribank@isx-iq.net
C340 Aljawhara Co. aljawharaco@isx-iq.net
C350 Aljazeerah Co. aljazeraco@isx-iq.net
B370 Alislami Bank alislamibank@isx-iq.net
B380 Istithmar Bank istithmarbank@isx-iq.net
B390 Alsharq Alawsat Bank sharqawst@isx-iq.net
C400 Alfawz Co. alfawzco@isx-iq.net
C410 Alhikma Co. alhikmaco@isx-iq.net
C420 Alwafa Co. alwafaco@isx-iq.net
C430 Alhatar Co. alhatarco@isx-iq.net
C440 Alnibras Co. alnibrasco@isx-iq.net
C450 Alrabee Co. alrabeeco@isx-iq.net
C460 Alwaha Co. alwahaco@isx-iq.net
C470 Nainawa Co. nainawaco@isx-iq.net
C480 Alqidwa Co. alqidwaco@isx-iq.net
C490 Alatlas Co. alatlasco@isx-iq.net
C500 Alaseel Co. alaseelco@isx-iq.net
C510 Alkarmal Co. alkarmalco@isx-iq.net
C520 Alaman Co. alamanco@isx-iq.net
B530 Alahli Alirqi Bank alahiraq@isx-iq.net
B540 Almutahed Bank almutahedbank@isx-iq.net
B550 Alaqari Bank alaqaribank@isx-iq.net
B560 Albasrah Bank albasrahbank@isx-iq.net
B570 Dar Alsalam Bank darslambank@isx-iq.net
B580 Babel Bank babelbank@isx-iq.net
B600 Alkhaleej Bank alkhaleejbank@isx-iq.net
B610 Alietiman Bank alietimanbank@isx-iq.net
B620 Alwrkaa Bank alwrkaabank@isx-iq.net
B630 Alieqtisad Bank alieqtisadbank@isx-iq.net
B640 Albaraka Bank albarakabank@isx-iq.net
B650 Almousel Bank almouselbank@isx-iq.net

Those are confusing reports. The first says to basically stay away from a fixed peg and use the PEP. The second one talks about the stability of a fixed peg.

Did I miss something or do I need another shot of Jack Daniels?

the first report is from fall of 2003,the second report is a up to date one 2004

Pour the shot... it's hard for the dems in Mass to say anything nice right now. Shabbibi's been dragging his heels on this...

"Our policy will remain a stable dinar, not a fixed exchange rate. We will not stand against gradual movements of the currency," Shabibi said at the central bank headquarters on Rashid Street in Baghdad's old district.

The 2 articles did not look to me like they coincided either. They sounded very contradictory.

well i allready emailed them has well see if he/she can tell me something more easily understandable.

I can't believe that they budgeted at 1500?!? Hope the IMF talks some sense into them when the CB get there..

has anyone bought dinar from the first dinar financial group? (http://www.firstdinarfinancialgroup.com/)

i ordered dinar from these people over two weeks ago, and no money has come out of my credit card yet

i have emailed them repeatedly for an update on my order, but all i get back are standard response emails that tell me nothing about my order

anyone else out there had a similar experience??..

ps - DON'T BUY ANYTHING FROM THESE PEOPLE - I WOULDN'T HAVE IF I KNEW THIS IS HOW LONG IT WAS GOING TO TAKE...HOW HARD IS IT TO PROCESS AN ORDER???..OR AT LEAST TELL YOUR CUSTOMERS WHEN IT WILL BE PROCESSED, AND WHEN THEY MIGHT RECEIVE THEIR PRODUCT

Another thing those reports are not keying on is the banking industry itself. Almost every bank in every country carries foreign currency for a hedge. Now, if the Iraqi's sell off their dollars for dinars as they appreciate, why would that tilt the indicators so much? US Banks are going to be buying dinars with dollars. So the dollars will still be coming into Iraq, along with British Pounds, the Euro and many other currencies. The influx from the banking sectors themselves could stabilize that.

Now also consider the investor. When the dinar hits a buck I'm hitting the bank. I'll be converting my dinar to dollars and then the US banks will keep the dinars as a hedge. If the dinar dips below the dollar, the US banks can buy up dollars with the dinars.

I wonder if they considered the fact that over $7.4 trillion dollars worth of currency is traded daily? I think the World Bank / IMF / and international regulators can keep this in check.

I'm gonna go make myself a cosmo, straight up...
Then I'm gonna write Shabibi a letter. The only fair thing for him to do is to restore the Iraqi's to wholeness by opening with a fixed rate of .33.

Holly!

Sorry, if you look up the posts a bit you will find my response to Irum.

Firstdinarfinancialgroup.com is owned by an idividual that may have been a get rich quick idea. His access to the dinars he was trying to sell my have fallen through. The other problem he would have is competition from eBay that has been selling dinars much lower than him. The site that registered him can't confirm that he is even a business.

better kick it up to .43...lol

if your credit card isnt billed yet i would call your credit number hotline tell them the situation and let them know you dont want the transaction anymore to cancel it just incase they try to draw money see what they say of the situation.

holly

i am suprise why you couldn't get any reponse if they are in bussiness the should make their clints happy or inform them when they ask questions like you did not sending 'em a programmed response that if they are not rep off company - i hope not holly.

I still think .30-.35 is a reasonable opener. If it doesn't, I think there would be a rather quick revolt and that we don't need.

you know,i still see alot of people here wanting to buy more maybe if we can contact dima89 or one of the other premier sellers and tell them bout this board maybe they can give us special deals just for members here? plus if they do give us deal we can leave there emails in our sigs to let others knows who the good person to deal with is.

Holly ! I had the same problem. I tracked the %*$&*#$* down. Three weeks he ducked me. I had to file with the Better Business Bureau to get a refund. I have his name and number. I'll email it to you.

My bad, I didn't even look at the article dates. Ah yes, another shot of Jack....

Sorry, couldn't link to your email. Is this what he sent you?

FDFG Dinar orders are being shipped daily. Once you have placed an order at
the posted amount you will be locked into that amount if payment is made
within 72 hours. The post mark on the envelope sent to us will be considered
the payment submission date. Credit cards will be processed a few days
before your order is processed. If payment is made by wire transfer, that
date will be considered the payment submission date If you pay by credit
card the date you submit your order will be considered the payment
submission date. We will stand behind our prices and all orders. Thank you
FDFG

He sent me this after I filed a report with the BBB. I got my refund, but no dinars. If it had gone up July 1st #$*^@#^$&%

We apologize for the delay and inconvenience of your order. We have had a
problem with our Credit Card Processing company. Orders processed on June
9th and only that day, were put on hold for an unknown reason. We have tried
to resolve this problem but with delay after delay it has been so time
consuming we asked that your card be refunded. We are holding your order
for 14 days. You may resubmit your order and we will honor it. We still take
all credit cards. If you chouse to re-order please go back to our site and
place a new order, in the comment put RE_ORDER and your old number. We will
compensate you for your inconvenience by adding some bounce dinar. Thank you
for your understanding, Best FDFG

Holly -- Cancel the transaction immediately.

This is all public info. I used to do skip tracing, way back as a junior accountant, when I did collections.

David Adickes
104 S. Galena St
Lead SD 57754
605-5844-9925 Office (secretary is Alyse)
605-920-5000 cell/pager

Doing Business as;
First Dinar Financial Group
SCSG.com
Presidentspark.com

He's an artist who makes big statues of presidents for this park.

M&M

For that day only? How stupid does that sound? Sure am happy I never purchased from them.

He's gonna tell you that Katie sent it out, call back for her. But, she's on her honeymoon. Karen or Sue may answer the phone also. Anyone of them can immediately get hold of him if you demand it.
This is so sad that I know all these people, after 3 weeks of misery with this guy...

I just received my second order today from Portal Iraq. Crisp and new bills... straight from Jordan via Fedex. Just ordered them last week.

The statues are great but the guy is nasty on the phone, Hung up on me twice...
Strung me along for three weeks with one lame excuse after another. I think the guys are right. Some of these guys are selling something they don't have.

I do have about 10 mil that I will sell for 950 per mil that may sound a little high for you guys but thats what I want I will ship them cod if anyone is interested email stevebuckner@htcomp.net

who would you have delivering it?

Wow, There sure is a lot of info here and my legs are falling asleep! I wish I understood everything I've read but if I'm reading this right, I'm gonna have alot of cash left over after I buy my new Jeep Wrangler. I may have to buy an every day car too(like a Rolls or Mercedes)! Thank again for all the info.

Jared was "right on" about FDFG, good call !

Hi guy's, I am a kbr employee and got shot down in Baghdad on june 12th ( minor damage, left leg ) . Came home to FLA to recoup and have just ,tonight, decided to return to Iraq. Have already purchased 5 mill. dinars and will quit the day it hit's the market. Opened an account tonight with HSBC ( they have a branch in Kuwait )
Im going back because I believe in what we are trying to achieve for the Iraqi people and I feel like I am letting someone else do my job ( convoy truck driver ).
Y'all be patient, it'll happen, without a dought
I'll keep everyone informed as I get info.
Peace to all and God Bless America

Hi Roger -- Thanks for taking on such a tough job. You're a great American, my friend. Safe trip. Hope you'll be coming home a real happy man :)

roger,stay safe and becarful bro its great that your going back when you dont have too your family must be proud of you also scared at the same time we'll be lookin forward to hearing from you and tell all the soldiers in iraq we said thankyou for everything that have done and are continueing to do for the iraqi people and to make our future safer from the bad guys.again thankyou.

Hey Roger,
I bailed out of the TTM toolroom in Anaconda in May. Wasn't the mortars, was that horrible food and the mangement. Stay safe partner. I also am interested in the price of goods and services to the Iraqis. If they are being subsidized with price fixing at artificially low prices for goods at market, the sellers and subsidizers will want to eventually collect the real market price for their wares. That seems to lend itself to a spike [perhaps, but maybe I'm missing something here.

BTW- Great thread, been spying on everyone sitting on 3 mil...

Hey Roger my Dad is over there driving also if you ever run into a guy named Catfish tell him his daughter says hi! Good luck and I wish all of you guys a safe return back to the states!

shelley how did your dad earn the name catfish? lol

roger
thanks so much for what you are doing not only for the iraqis but for us here in america too. tell all the soldiers our thoughts and prayers are with each and everyone of you. good luck, and god bless

Well, I've gotten my dinars, and I'm socking them away for the duration. I've got 10 million at fairly decent prices, and hopefully, one day, it will pay off for me. It's not an investment that will kill me if it doesn't pan out, but I do think that this is an opportunity that comes along very rarely. Remember, the Iraqi government doesn't only have the benefit of being one of the richest countries on earth, but they also have the added benefit of a partnership with the most successful country, a country that can get their debt reduced, and a country that is providing the best and the brightest experts for building Iraqi infrastructure. In 5 years, the Iraqi stock market will be the envy of the entire mideast. Again, this may all be pie in the sky, but it's a worthwhile flier for me.

Hello everyone,
I enjoy this board, and all the info. I know a lot of you are talking about a big fast return on your investment, and it would be nice if that were the case. I think it is a long term investment 3 to 5 years min. My worries are not whether Iraq will make it. I think with the support of the world bank/united nations and the resources they have available it's a no brainer. I'm worried about changes in currency, and not having a source to exchange the dinar if there was a change. What would be the safest way to insure our investment without having to put it into a Iraqi bank? Any one have any good ideas?

well its almost 11pm here folks,its been hell of a day for us here,i'll see you all tommorow morning.

I am in Kuwait and am willing to purchase dinars for anyone interested in buying. I will sell 1 million at a rate of $900.00 and shipping them via FED EX. Anyone interested e-mail me at stacy.gardner@marinecorps.com. Very serious inquiries only. Your purchase would have to be made via money wire. Happy to help anyone interested in investing in the dinar.

Stacy

Satcy!!!

Well good morning there girly girl! Nice to see someone is still up. Setting up shop eh?

I was thinking about it but working 7 12's for the last few months is kickin my but and it just got longer. I'm still working on getting an Iraqi bank account and just sending my wages there... currently I have direct deposit with NBK and send a little to my credit union to cover my ameritrade account. NBK allows you to transfer up to 20,000 KD online at one time to anywhere in the world so if the IQD does hit it wouldnt be a prob transfering money from NBK because they are everywhere and they are setting up in Iraq. They were one of the first 3 chosen or "given licences" to do business in Iraq. Ya might want to think about it.

Also you might want to consider an Iraqi bank account because
1. You dont have to worry about demonitizing of money.
2. Dont have to worry about currency change because with a abnk account it changes automaticly.
3. You can use the bank as a broker for the ISX if you want.
4. Your money would earn intrest as you wait for the value to go up
5.representatives from 12 Private banks just returned from Washington, where they discussed American banks purchasing up to 50% of them.
6. Each private bank was given $10,000,000.00 to start off with.
7. The private banking laws are current and are based on U.S. banking laws. (laws are in PDF format on CPA website)
8. The banks will be online before 2005. Currently only 1 bank is doing business with NBK in kuwait (per Mr. AlFettal at Albakara investment bank in Baghdad.
9. The only worry would be that the bank were physically blown up. However if you do your home work you can find a bank in or extreemly close to the "GREEN" zone in Baghdad.
10. All you would have to do is sit back and let it appreciate.

According to presidential order 13303 You, as a U.S. Citizen are allowed to invest in stocks, bonds, realestate,buisness,and currency. I dont know about you but I have 50,000,000,000.00 and adding every 2 weeks (You Know what us Techs are making at ITT :) ) So the 100 mil mark isnt far...
Just some food for thought
Jerry

HEY JACK.. SGT TURNER NMNG.. YOU PUT MIRRORS ON MY HUMMER..THANKS.. IT WAS FROM KBR THAT I LEARNED ABOUT THE DINARS..YES I AM STILL HERE,16 MONTHS, BUT IN KUWAIT NOW.. GOT IED'ed LAST OF JANUARY..
ANYWAYS THANKS GUYS FOR THE OUTSTANDING BOARD.. I HAVE BOUGHT 7 MILLION DINARS. I FOUND A PLACE THAT GIVES ME 1 MILLION FOR 700.00 US..I THINK THATS A DEAL..HEEE IN KUWAIT...
ALL THE MONEY TRADERS HERE IN KUWAIT SAY, THE VALUE IS GOING TO GO UP...SOON!
SO STACY THAT WOULD MAKE YOU A GOOD PROFIT.. OF 285,000 DINARS FOR THE 900.00 AFTER SENDING THE MIL..LESS POSTAGE..

Good Morning Jerry,

Thanks for the great info. I was looking into setting up an account with NBK. I have been here 15 months and will be here until May 2006. By choice of course. If and when the money hits I'm not going anywhere. It's not so bad but I agree. 12/7 is an A$$ kicker. Again thanks for the info.

Stacy,

Your welcome for the info. I was here before the war with CSA then went home to cali for 3 months 3 weeks into the war and came back june last year.
We're about to go permanent so I'll probably be here till 2006 also then probably do a few more years. I gotta be here to support the equipment.
I been following this stuff around for 7 years at the war reserve sites preping for this, now that its here being used... well I feel its my duty to support it. Your a trooper for sticking it out thanks for "Staying The Course".

"Remeber to drink your water young lady"
Jer

ooo oooo oo hot off the press YAY!!!!!

Middle East - AP


Iraq's Interim Leader Signs Emergency Law

34 minutes ago

By SAMEER N. YACOUB, Associated Press Writer

BAGHDAD, Iraq - Iraq (news - web sites)'s interim prime minister has signed a long-anticipated law that gives him the authority to impose emergency measures to safeguard the country's security, an official in his office said Wednesday.

AP Photo

The new law signed by interim Prime Minister Iyad Allawi gives Iraqi officials the right to impose martial law in special circumstances and for limited periods of time in specific places, said Nassir Nassir, an official in Allawi's office. The law has been signed and approved by the government, he said.

Allawi and his government have delayed the announcement of the law designed to combat Iraq's violent insurgency on several occasions. A news conference to announce the final draft of the law is set for later Wednesday.

The law is expected to include a package of initiatives to combat the insurgency.

On Saturday, Allawi's spokesman, Georges Sada, suggested that guerrillas who fought the Americans before the sovereignty transfer could be eligible for amnesty because their actions were legitimate acts of resistance.

However, the deputy prime minister for national security, Barham Saleh, said the Cabinet was discussing an amnesty offer and was deliberating how to give "people an opportunity to reintegrate within society" while at the same time "remaining firm against people who have committed atrocities and have committed crimes against the people of Iraq and against the coalition forces that have come to help us overcome tyranny."

Officials declined to release a copy of the law before the news conference, and its final details were not immediately clear.

A senior U.S. military official speaking on condition of anonymity, said the Americans believe the new law will not detract from the efforts of coalition forces here.

"We'll still be able to go out and do our mission," the official said while speaking on condition of anonymity. "There may be a requirement or need for increase of coordination with specific rules and specific measures that are going to be put in place by the Iraqi government."

The official did not elaborate.

The U.S. military has increasingly been handing over security responsibilities to Iraqi police and national guard forces. However, the Iraqi forces are largely ill-equipped and ill-trained to handle such duties alone.

Wont be long now :)

o.k. boys and girls the word for the day is "Martial Law"...
"O.K. say it with me MARRRRTIAL LAWWWW...."
"Can YOU say Marrrrrtial Lawwwww???"
"I knew you could :)"

Ive been reading the site for awhile excellent info, does anyone have insight on opening a NBK account in kuwait, what are the requirements?

O K Guys, in reference to the Price Waterhouse article about the "Iraq's Botched Currency Reform" and the opening with a fixed exchange rate of 1500NID - 1USD... what do you think? It's hard to believe a thousand dollar investment will exchange for thirty-three thousand dollars by the end of the year. I want to believe it, and I do, sometimes. I have over two million in a safe place. Any thoughts?

I was at NBK at Kuwait Inter. Airport and they were not trading any dinars yet that happened 2 days ago

M&M and Fellow Investors,

This will all makes us VERY, very happy in the pants...

From a very good and close friend who I work with on a daily basis. He is our Interpreter.

He told me the following today.
Within 20 days to a month the World Bank will be in country. There is no need to build anything for this bank because there is a giant unoccupied building already waiting for them in Baghdad. He said that once they establish themselves in the building it will be open to the market. Like I said earlier, that is somewhere between 20 to 40 days from now. There is much more but can only tell you some because of security reasons.... So don't ask!
My friend knows all this because his cousin is an Iraqi Bank Manager. His cousin knows all of this because about 3 days ago the Minister of Finance sent all Bank Managers an email. In the email it said all of the above and that they are trying to improve the value of dinar by .20cents Each and Every Day (which is why it posted on XE.com at 1437 today, the lowest it's been since I stated buying dinar here).
When he told me this I gave him another $1000. Now I will be close to the 15Mil mark.

Hope this makes everyone just as happy and excited as I am.

My last posting also coincides with the posting about the Martial Law Deal. That has a big part in all of it. Wink, Wink
You can try and guess but you will never figure it out. Maybe I will tell all of you after it opens on the market, Maybe.

OMG J ! --- This is great news to wake up to! Can we offer to buy your friend lunch or something? I think I can speak for most of us when I say we all want to be his friend too :)

J -- You're holding out on us.... :) Throw us a bone, friend !

It makes good sense to provide security before the CB comes in. I hope Allawi cleans up the extreme terror groups quickly. This move to Marial Law will give them significant control over the city and a better chance to grab the bad guys. I'm all for it. I'm gonna go do my morning exchange run. Back in a few with all of this morning's rates...

Thanks J!

Most of that has been reported through the news services. The WB as forcasted for months that it would be in Iraq by the end of July. The Iraqi Minister of Finance had stated that there are 8 possible sites for the WB to move into. Martial Law only makes sense considering WB employee's have been getting shot at. Iraq is now in charge of security and it would not help them to have the WB building blown up after they move in.

Then there is organizational time, which will be at least 60 days for the WB to be up and running with links to the other Iraqi banks in the country as well as linking outside the country. I still see late Oct early Nov for them to open. This isn't something they can slam dunk into place.

Now the improvement of the dinar excites me. Not sure what there angle is yet, but I do like to hear that. I would spontaneously combust if the dinar opened even with the dollar! I hope it can open earlier, but there is a lot of work to do and the violence is not helping any.

Hmmm. Looks like the Italians and the World Bank started a framework back in May for the WB's technology infrastructure in Iraq:

http://www.itworld.com/Tech/2987/040518iraqit/

To All--As one earlier post'er put it, little will likely happen to the NID until the debt issue is resolved. I personally do not see this happening until after the US election. Why? Also as stated earlier, France is the key. France will refrain from making any moves in the near-term to firm the security/financial situation in Iraq. To do so before the election would risk bolstering Bush's re-election bid. Fat chance they'll do that given the vitriol between ol' Jacques and George. After the election, they will either be resigned to having to work with the second-term Bush/Cheney team--and resolve Iraq's debts--or seek to bolster the Kerry/Edward team's hand in Iraq if they win--which also means to resolve Iraqi debts. In the end France, and most of the debtor nations, have a vested interest in resolving those debts given the potentialities of the market. So, here's hoping it'll open between .01 and .1, but in the end, and after the elections, look for a steady rise! And once again, this is a great site: keep up the spirited but nonetheless polite debate/information exchange!

RateUK 1150
UNIDO site down
Bloomberg 1460
OANDA 1460
NBK 1239

XE.COM 1437.64 (UP 8.84 against the dollar.) Yesterday: 1446.48
Monday 1446.09

ICCFX 1450.6014 (UP 6.3519 against the dollar)
Yesterday 1456.9533 (Finally updated their rate)
Monday .3190 (PreGulfWar Rate used for the last time)

Small but significant gains on the dinar are shown on these last two sites. It seems they are the only ones giving real time quotes. ICCFX just finally updated thier rate on Tuesday. They had been using the PreGulfWar Rate of $3 per dinar all along. I'm hoping this is a sign of them preparing to trade.

Hi Bill -- Yea, looks like Mr Chirac is up to his old tricks again. Slipping around town with Kerry. They met at a restaurant here in NYC to conspire. I think he's holding out to make a big play in this election with Kerry. I hope everyone gets out and votes. Since we all vote our pocketbook anyway... Bush is the man who will leave more in your pocket. Acording to Hillary, the Dems wanna take it all away. We need to drag our friends to the poles to vote or we might get @^@%$#%'d on the captial gains tax when we finally cash in.

I am presently in US on RandR from Iraq. I am with KBR at Al Asad Air base about 125 miles west of Bagdad. I took the leave at this time, hoping that the dinar would make a movement over the 4th because of the autonomy issue. No luck thus far. I have 20 million at about $750 dollars per and when I go back I intend to buy 20 million more in Kuwait. A friend there says three days ago in Fahaheel, in Kuwait City, that the money exchanges were at $695.US per 1 million ID.
Just a truck driver.

Glad to see others are accumulating in large numbers. I thought maybe I was nuts when I went over 50M, but it looks like others are already there and more approaching that number. Currently at 62.75M and still nibbling....

All:
See the accompanying link. News about the International Monetary Fund (IMF) formally recognizing Iraq:
http://story.news.yahoo.com/news?tmpl=story&u=/afp/20040707/pl_afp/imf_iraq&cid=1521&ncid=1480

Thanks Bill! This is another milestone on the road to a prosperous Iraq.

Wow Jared--- Glad to see you put your money where your mouth is. Nice investment... hope it hits big :)

My husband & I just recently found about about this awesome investment and are looking to jump on the ship with everyone else. After reading through all of this, it was very helpful on what & what not to do. I do have a question though. Most every place that I am looking into purchasing $1 million of the NID, they are wanting to ship 40 of the 25,000 NID. Should I be trying to get the smaller denominations or will we be okay with that? Any advice on this would be greatly appreciated!

The money exchange in Kuwait inter airport will exchange us for 1200 they need to make their money too

World Bank Overview June 2003

http://www.worldbank.org/transitionnewsletter/aprmayjun03/pgs1-4.htm

Rhonda a dinar is a dinar I don't think its going to make any difference what demononation you get just get the mil

IMF formally recognizes Iraq

1 hour, 30 minutes ago

WASHINGTON (AFP) - The International Monetary Fund (news - web sites) said it had formally recognized the interim government of Iraq (news - web sites), opening the path to future financial assistance.

That was from Yahoo News. Good News???

Rhonda,

Getting the smaller denominations would not hurt, but with things starting to happen very fast in Iraq you can't really wait. The 25K is not a problem. If anything, once the dinar reaches $1USD+ you will probably see them phase the notes out. They will still be legal tender, it's just that the banks will hold on to them as they come in. I have about 10M of the 25K notes and am not worried a bit.

Matt,

That is awesome news. That is one more stumbling block that is now out of the way. IMF and WB have officially recognised the new government. Now they can start moving into Iraq. I had expected the IMF to say this by mid July, so I'm very happy.

Goosebumps are starting to form.......

AWESOME SITE! GOOD INFORMATION ON TAXES, ETC. UNFORTUNATELY I HAVE A LONG QUESTION BUT MAYBE OTHERS ARE THINKING THE SAME THING AS ME. I AM HAVING TROUBLE COMPREHENDING WHAT HAPPENS IF AND WHEN EVERYONE WOULD DECIDE TO CASH IN THEIR DINAR'S FOR THE HOPEFULLY WONDERFUL PAYDAY. IS IT AS SIMPLE AS YOU EXCHANGE YOUR MONEY AND YOU HAVE MILLIONS? IS THERE SOMETHING I AM MISSING? WHAT HAPPENS TO THE ECONOMY WHEN THIS HAPPENS? IS IT JUST A NEVERENDING PAYDAY UNTIL EVERYONE IS DONE EXCHANGING? IS THE POPULATION OF PEOPLE INVESTING THAT INSIGNIFICANT TO WHERE THE MONEY THAT WE WILL MAKE WILL NOT BE MISSED? WHERE DO THOSE US DOLLARS COME FROM THAT WOULD BE PAID TO US? SORRY SO MANY QUESTIONS, BUT IT IS ALL IN MY HEAD AND I FIGURED THIS IS THE BEST PLACE TO GET IT OUT

R.PH,

It is as simple as exchanging it all and having millions. Less taxed and exchange fees of course.

As far as the economy, you are missing one big point, there will be buyers as well. Billions of people want access to the dinar and don't know how to get it. Once it is in the open market there will be a buying spree as others pile on the bandwagon. There will be millions or billions sold, but there will be more purchases.

All banks hold currency from other countries as a hedge and/or to purchase their money back. Iraq for instance has US dollars and has British Pounds. They can use that money to purchase their dinars back from the US and British banks.

There are still big questions out there that we don't yet have answers for, such as what they are going to peg the dinar to. I did some searching last night and found 3 sites that each had their own peg theory. The Float, PEP, and Fixed seem to be the popular three. We just don't know which ones they will do. The float might be a good peg for a year or two until they stablize. I would later peg it to PEP based on their main exports, not just oil.

This from the AP ... note its a follow-on to my previous post ... again, let's hope everyone sees the benefit in an economically strong iraq!

BAGHDAD,Iraq (AP) - Iraq's massive debt could badly hinder efforts to rebuild the nation's economy, its finance minister warned Wednesday.

"Iraq's external debt represents a challenge to the financial policy of Iraq and a heavy burden, which its economy cannot afford," Finance Minister Adil Abdel-Mahdi told a news conference.

Iraq's debt is roughly $120 billion. The United States is pushing for a significant reduction in the debt to allow Iraq's ravaged economy to heal.

Abdel-Mahdi said that some countries expressed a willingness to forgive the Iraqi debt, though he declined to specify which countries.

He added, however, that the country still intended to pay war reparations to victims of Iraq's 1990 invasion of Kuwait "despite the fact that the Iraqi people were not responsible for Saddam's deeds."

(Copyright 2004 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

M&M,

I missed the boat on the Kuwaiti dinar, I was not going to miss it again. Unlike Kuwait, Iraq has so much more they can export and build upon. Besides China, I can't imagine any country with a brighter future than Iraq. My plan was to hit 75M, and then once it opens, sell 1M/month. It would take me almost 5 years to get rid of them all. That's a happy retirement!!

Sounds like a plan, Jared!
You know, I'm still disturbed by that PWC article. What were they thinking using a budget rate of 1500? Shabibi has clearly stated he doesn't want a fixed rate. I don't get it...

You're right Bill, They should get Saddam to pay the reparations to the Kuwaiti's. I think we'll see more stories like this. Which is actually a good thing. We need to turn up the heat under Monsieur Jacque and get them to forgive the debt and not drag it out beyond the elections. The only resonable solution is to restore the Iraqi's to wholeness, restore their wealth and pride.

Jared,
If you have time, could you explain or possibly project what the short-term effects (1-2 year period) each strategy, The Float, PEP, or Fixed, would have on the dinar's value if implemented?

oh Jared,
and I sent you one follow question in email as well.

Thanks again for all your help. You can charge a commission of my future earnings if you wish for your advice. ;)

Believe it or not the Dinar will also be backed by Gold.

I thought I had a good amount of Dinar but after reading that some of you have in the up wards of 62 Million and up makes me upset I didn't by more and I'm close to 15. Either I don't have enough or you guys will be Bill Gates new neighbors.

If you take a look at this e site, Iraqi Dinar Exchange Rates and Central Bank of Iraq Foreign Exchange Auction Results. starting from today "7/7/2004" Central bank Link has been added.
http://www.iraqcoalition.org/exchange.html

I have enjoyed this exhange. It brings several views to light that I may have not considered.

I have a question. Someone posted an article from world bank. I am wondering if that article is old becuase it states that the new Iraqi Gvt will decide on new currency. I does not make sense to me that they would revamp the currency again since it cost millions already. Additionally, that would undermine the currency even more. Can somone also suggest where to get the best deal with the most reliable service?

Blake,

The float is used by many countries and seems to be a favorite of the IMF. When the Asian crisis hit, most of the countries were using the float so their currencies stayed with one another. Australia uses this and that is how they weathered the storm when that crisis hit. The problem I see with the float is that you are dependent on many other economies that need to pick up to get you out of a hole. The short term for them would float with the the countries around them, that would boost the dinar quite quickly. I'll have to look into what the other countries like Saudi are pegged to.

The PEP will be the best one a bit later on once all the hostilities cool off. Their wealth is not just in oil, but in other commodities as well. Dates for instance is a multi-billion dinar industry which will start picking up due to UN sanctions being lifted.

Fixed can be good and bad. Argentina fixed theirs to the dollar and almost collapsed. There have been rumors that they could peg the dinar to the euro, which I think would be another bad idea. Unless the global economy is strong, haveing your currency fixed is a tough fight.

Now, any one of those could work great, any one of those could fall on their face. I think the PEP could be their strongest peg once they get over all the violence. JMHO however.

Blake,

OK, I'll answer that one when I get home. That email goes to my server at home.

J,

Did you just leak information? Backed by Gold? That would mean they are looking at pegging the dinar to the PEP since gold is considered a commodity. Gold, Oil, and Dates would make one hell of a PEP for them.

Abdullah, Thanks for the Central bank link. Fabulous amount of information flying around this forum from all quarters. I watch with glee as all these daily events start to coalese. There is an obvious fast-track-thing happening here, and we're riding it out! To the emerging history of the new Iraq! Boffo!

FSM75,

Go to ebay and do a search for Dinar. Look through the auctions and find a seller with the name Dima89. He has been an awesome seller to me as have Antiquesgaith and Jaki2000.

Yes, that might have been an old article as stability and credibility would crumble if they changed money again. Iraq has also secured loans from countries with their dinar. If those countries forgive the Iraqi debts, and then Iraq issues new money making the money they used to secure loans worthless, they will have no credit extended to them by anyone. They would not do that, they want to get back into the limelight again and make Iraq the way it should have been.

i wasnt able to get access to a comp today but looks like i came home to some good news so far.

Ate Chinese food today, had to share the fortune cookie:

"That which we perceive as real, is real."

Gotta love it!!

THANKS FOR THE INSIGT JARED. IT MAKES MORE SENSE TO ME THE WAY YOU PUT IT IN PERSPECTIVE. I APPRECIATE THE EDUCATI0N.

Yes Jared, by Gold.
This I know will happen.. or.. maybe already has.
What I don't understand is what this means: "pegging the dinar to the PEP since gold is considered a commodity."? Also, what does PEP stand for? I know that anytime Gold is involved it is good but what exactly does it mean and what does it do for us?? How does it play into this PEP?

Yes Jared, by Gold.
This I know will happen.. or.. maybe already has.
What I don't understand is what this means: "pegging the dinar to the PEP since gold is considered a commodity."? Also, what does PEP stand for? I know that anytime Gold is involved it is good but what exactly does it mean and what does it do for us?? How does it play into this PEP?

J,
Until jared gets back to better explain it, you can find out what the PEP strategy means ("Peg the Export Price")and a discussion of The Float and Fixed strategies for the Iraqi currency here...

http://www.pwc.com/extweb/newcoweb.nsf/docid/7B3682DA4F62B17885256DF0005B03A3

I'm learning as you are, so that's all I can offer. Just trying to soak all this in.

who wants a DQ sundae!!!

J,

PEP is "Peg the Export Price". If it was just based on oil, you would peg the dinar to a basket of oil. PEP is normally used on commodities, gold, silver, oil, agricultural goods, etc. What I have been guessing, is that if they use the PEP, why just use oil, why not combine it with dates and gold? In this instance, the dinar would have more strength based on the outcomes of more than one export. If oil was to drop and gold rises the dinar would see balance. The date industry is going to take off like a rocket and would support both gold and oil on the export market. Those three all ride different waves as certain times of the year each goes down and each rises. It would help solidify the dinar in the case of a crash in the oil market. For instance, if oil was to fall to $20 a barrel, the dinar would tumble because it is pegged to the oil export. But if gold was behind it, it would lessen the fall. Then add the dates, it would support it even more.

But, for oil to be used in the PEP, we have to get the violence to stop so the flow of oil can continue. That's why I think initially they will float the dinar until hostilities end.

Max,

I'll take a peanut buster parfait!!

Are there any laws against selling the Iraqi Dinar within the USA? Any licenses needed?

Joey,

It's sold on eBay so anyone in the US or world for that matter can get it. It's just money, anyone can sell and buy money.

Hi All,

just thought i'd let ya know last week in kuwait my dad was able to buy dinar for 1417 to the dollar. it's coming down.

I am very interested in buy Dinar bills, where can I find fast and reliable sites or people to do business with, I will GREATLY appreciate it.

go to ebay and type in new dinars,look for seller named dima89 hes got the best deals

http://www.isx-iq.net/page/daily-bulletin.htm

update on the iraq stock exchange,if you notice not one price went down all sold for higher!!

Another good sign.

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1087373567920

I was in Fahaheel, Kuwait today and paid $687/1 million.

Also, lets keep a bit of pespective on this as I think it will take some time and I think $3.00.dinar is a delusion.

Anyone remember the internet bubble?

For a bit of Lite reading on the whole phenomonon, see the book "Extroadinary popular delusions and the madness of crowds"

I think its a good risk and am into it for the long haul, but it will take some time, several years I believe.

I know people who worked here in Kuwait and are at home now waiting for it to "hit". Foolish to plan your life around this thing.

i dont mind waiting waiting 5 or even 10 years for it to hit $3 and i turn into a millionaire as far has i see it the only way i'll be one is if i win the lottery,i sure as hell aint gona make it with my job lol,besides most people are lucky to save up $50,000 in there account in a 10 year span so for the amount of the profit margin i think 10 years is nothing to be honest.

I have been reading the comments on here, and agree with most. I personally have bought 1 million, and will soon be buying some more. I also expect it will be some time before this really "hits", but do think this is an amazing opportunity. If you just analyze risk/reward... you will never find an opportunity like this. Good luck all

exzactly this is like someone giving you the winning numbers to the lottery but only telling you these numbers will hit from anytime today to 10 years from now,you know its gona happen,but you dont know when.

Anyone have any info on getiraqdinar.com?

ej that site doesnt come up

Sorry, forgot the "i" http://www.getiraqidinar.com/
So many of these are scams, how can you tell?

It is getiraqidinar.com

is it legit? anyone know?

there too expensive dima89 is muchhhhh cheaper

Does he have a phone number? I can't get to ebay.com.

no he doesnt have a phone number why cant you get on ebay?

you know what maybe M&M can help you she had a website where she been ordering from and she hasnt had any complaints,if she reads this maybe she can post the website addy and the prices has i remember were decent.

I have a guy that I am getting it for 835/million if anyone else is interested? I got my dinar today, and ordered it on the 1st

Jared,

Thanks for the breakdown, know I understand.

I do think that they will not just PEP the oil, gold, dates, but also all the Natural Gass, Sulfer, Uranium, and many other resources this country has.
As for the insurgent... They don't have a chance really anymore. My connection told they've beefed up security in this country like he's never seen, especially on on the oil sites, new and old.
My connection says he also believe as most of the Iraqi country that this will not open any lower than .20. He says he thinks it will be higher like in the low .30 range.
I'll be more than happy if it opens at .10 or above. At thirty cents.. I think I might sh!t myself, but that will be OK cause I'll just go out and buy a new pair of pants and a shirt to match.

Good Evening my crazy dinar-a-holics. I resisted the urge to order more dinar today. In fact I even stayed off the blogs... yes, it's true. However, I'm here now and I'm all caught up on the lastest news. Great posts everyone !

Hey Tony --- Wow, that ISX huh?!?! Bagdad Soda Corp up almost 90%. Anyone know how to get in on this?

Hey Brian -- Great article on the new T-Bills coming out JULY 18TH ! 5% - 8% return ! I want in on that too ! Does anyone know if us little guys have a shot at those?

Hey EJ-- Most folks like the low prices on ebay. I personally like using PortAl Iraq. The dealer's name is Chris. She sends them Fedex, no charge, straight from Jordan. 1085 per mil.
Fast, friendly and reliable. I received 2 orders of 2mil each and have a third order on the way. Tell her Mark and Marilyn sent you :)

http://portaliraq.com/buy-iraq-dinar.php

Customer Feedback (I know it's true cause two of them are mine, hehe)

http://portaliraq.com/iraqi-dinar-feedback.php

M&M im gona do my best to find out how to get some im gona email some of those brokers i had listed that are involved with the isx

joey, also keep in mind that executive order 13303 made it legal for US citizens to own Iraqi currency

i just emailed the site actually and told them im interested in buying some iraqi stock especially the baghdad pop company and asked them whats the minimum invesment see what they say you know the baghdad pop stock is go do nothing but go up especially with coke trying to buy it,and names like pepsi,dr.pepper,and sprite being allowed to do business in iraq for the first time in 12 years.

I got a quick question, just to make sure I understand:

If I were to buy 1 million Dinars at 890$ USD, and lets say that in ten years the value of the Dinar goes up to .30 cents, I would have made 300,000$ USD, correct? Since you would multiply what you have in dinars with the rising value of it correct?

Also, Iraq's economy is bound to rise correct with the new government, so there is simply no reason why not to buy right?

Thank you in advance

I just heard from a friend in Kuwait that Bangkok was trading the dinar at 20baht (.51). Can anyone confirm that?? If so, i'm on the way to thailand!

Last time I spoke with the Bank of Thailand they were not trading dinar ;) That was yesterday I think....

no it was a lie,M&M checked into it its not true

Jamel,
It's not true. This was reported to us a few
days ago, but calls to the Bangkok Bank proved
that it was a sick joke.

damn girl your fast lol

Well, i see that we are still waiting! I really didn't believe it anyway.

you know if you were gona pull a joke like that dont be stupid and make it $0.51 now if you had made it something decent like $0.02 or $0.05 a dinar then maybe we would have been shook up lol

Thanks Tony! I'd love to get some of that "Bagdad Pop" LOL...

Oh yea, somebody emailed me the legal stuff that says this is all legit. I'll pull it from the mailbox and post it...

Hi Gustavo -- Yea, that's right.

1mil IQD X .30 USD = $300,000 USD
Subtract your cost and exhange fees and that's your big sweet beautiful capital gain. (Don't forget to add it to your income tax for the year you sell it.)

Investing in baghdad pop is a great idea like I said all along... Coca cola is buying them once it all chills out and the "bad guys" dont wanna blow it up because eeeveryone likes soda.

I talked to a broker Mr Al Fettal of ALbakara bank. He said I could get in on it but I have to drive to Iraq to sign the papers. Another thing he mentioned was that at least 12 U.S. banks are going to purchase 50% of 12 Iraq private banks here in the near future. If anyone ever dealt in bank stocks before... you know this is very profitable. Just wish I had more money to invest.
NBK is about to give me a credit line of 100g's so I think Ill take out the money and invest and just pay it back to them gradually.

M&M, I greatly appreciate it. I was wondering if you have any type of messenger, MSN or AIM works for me. Thanks.

Oh by the way heres my post From Portal Iraq fromwhich so many people enjoyed the read and inspired Tony to look into the ISX...
06-25-2004, 04:50 AM
Unregistered
Guest Posts: n/a

Iraqi dinar may appreciate

--------------------------------------------------------------------------------

There is a chance to make a little money off purchasing Iraqi Dinar. Speculation like the stock market drives prices... When the Dinar is released on the world market the speculation at exchanges will definatly drive the price up. As demonstrated in January when the dinar went 1000 to the dollar. How high would it go up globally? Who knows.. but definatly not near its worth in natural and capital resources.

Iraqs Per Capita income is $400.00 Do you think it will still be $400.00 in 10 years? If you think yes the you might want to look at the more democratic states in the surrounding Gulf Region... Kuwait, UAE, and so on.

Another thing to think about is The Central Bank has allready started selling Dinars. The banks governer said that it helped double its foregin currency reserves to $2.4 billion.

Me personally I invested in the Iraqi Dinar when it was $1000.00 bought 100,000,000.00 Iraqi Dinar. In the ammout of 50,000,000.00 NID

But then again I live in Kuwait and have am working on getting an Iraqi bank account. I suggest all parties interested do the same.

Presidential Order 13303 allows you to do so. "U.S. citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Buisness in Iraq."

True it doesnt say anything about banks or having a bank account... but stocks!!! Stocks require a bank account and if you do a little reasearch you can find existing private banks who are brokers for the Iraq Stock Exchange, and their contact info. I did. The idea here is to put a lil in stocks then have the bulk of the cash idle in the account as the economy grows. Unless you want to actually invest in the stock market... thats a whole other subject that makes money, I'll give you a little taste..

Baghdad Soda Company is listed on the "ISX" its not really even moving as the stock exchange in Iraq is about 10 days or so old (just reopening). Lots of web sites list the contracts won and whos bidding on them. I know for a fact that Coca Cola is bidding on Baghdad Soda Company but is hesitant on doing any thing because of the security. If you were to buy shares now and then later Coca Cola buys them imagine the money you make?!

I suppose the Key Word there is "Security"... Well if you been reading the news you might have been hearing the answer to that problem.

Two words... "Martial Law" look it up in history and get a general idea of it. Youll come to find out its pretty effective. Its only a matter of time...

Hey Eveybody -- I just got an email from Kevin, the guy whose board this is, saying we broke some kinda record with all this great data we built here. Nice Job Everyone!! Over 650 comments! WooHoo !

"I've never received 650 comments on one blog post before, and I'm amazed what you all have made this into..." Kevin Brancato

jerry im in luck 80% of my family is in iraq and my uncle has been buying me all the dinars i bought reall cheap and putting it in my bank account there,tommorow im gona ask him to look into it for me see whats the minimum to invest i wont go more then a couple a g's just to test the waters first.

no doubt this is the best forum for this subject,everywhere else when i mention they look at me like i got 6 eyes lol

Is anything under $900 USD a good price for 1 mil NID?

Oh yea, almost forgot the legal mumbo jumbo.
(I was so excited when I read that message from Kevin I forgot what I went to the mailbox to get, hehe.)

This was a reponse to my question about the legality of trading the currency. I haven't read it so I can't vouch for the content.

M&M
I spoke to the U>S treasury last week and spoke to Mr. Jerry Livigni, the ban was lifted May 23rd, 04.
www.ustreas.gov/ofac
look at 1). country programs
2). summary's
a). Iraq
phone # is 1 202 622-6516
The website shows the lifting and the liscense to trade.

ya its legal to buy,own,sell,trade a couple months back bush passed a law saying its completly legal now

Good idea bro. I think Im going to do 10 mil in the Bank itself because i know its getting purchased... 10 mil in the Soda Pop thingey because we know its going to be purchased... and 10 mil on 11027 "modren construction because KBR is subcontracting the hell out of that stuff.
Probably juss sit on the rest (30 mil) and let it all churn.
What we're doing Tony by doing all this is were putting it all back into the Iraqi people and giving back to Iraq... unlike alot of people who on here are just sittin and holding which is' doing anything to help Iraq.

I guess people dont realize that "Youget back what you put in" and if every one were to "put in" both Iraq and us, will become prosperous that much faster.

Jerry

you know what i just relized..lol i forgot were talkin bout dinars and not u.s currency so 3g's will get me $4,380,000 worth.i gotta get in on the dates,you know they say money doest grow on trees,but there wrong it does and its in the form of dates and the trees are planted in iraq..lol

I got an email from a friend asking to get him more info on this great investmnet, and so his question ask:

Is it better to recieved the dinar through bank wiring or thorugh dinar cash?

And on my behalf, I'd like to know if dima89 sends money cash or bank wiring, thank you. I appreicate it all.

dina89 sends the dinar themselves thru the mail ive ordered many times from him

Nice article, talks a lot about the dinar traders here on the web.

http://www.iraq.net/displayarticle4237.html

Hey, want is the web address for dina89?

ISX/ Tech/Historical

http://seattletimes.nwsource.com/html/businesstechnology/2001890986_iraqstocks30.html

Hello eveyone . I love this forum. Very interesting and informative. just a little informatiom from USATODAY.COM



Iraq to get new start with bond market
By Paul Wiseman, USA TODAY

BAGHDAD — Iraq's first bond market will open this month, a move designed to ensure that the Iraqi government won't repeat Saddam Hussein's ruinous economic policies.
At the first bond auction, scheduled for July 18, Iraqi banks can bid for about 150 billion dinars (a little more than $100 million) worth of government debt, the finance ministry announced Wednesday.

Iraqi authorities for the first time are letting free market forces set interest rates in Iraq. The yield at the auction will set an unprecedented benchmark in Iraq, allowing commercial lenders to price loans more rationally.

Saddam's regime financed its overspending by borrowing from the central bank, which printed money to keep up with government demand. The result: Runaway inflation that drove the Iraqi currency into the ground. One dollar was worth 147 Iraqi dinars on the eve of Saddam's Aug. 2, 1990, invasion of Kuwait; now, it takes 1,450 dinars to buy $1.

"We inherited a corrupted and bad economy. It was a mafia economy rather than a market economy," Finance Minister Adel Abdul-Mahdi said in an interview. "We are trying to rebuild the new Iraq on a solid basis."

The Iraqi central bank holds about $2.5 billion in Iraqi government debt. Under the bond market plan hatched in the past five months by U.S. and Iraqi officials, that debt will be paid as it matures and essentially reissued to the public in auctions.

The creation of a government debt bazaar will bring the discipline of free markets to Iraqi government: If it overspends the way Saddam did, investors will demand higher interest rates.

The finance ministry is expected to hold auctions every few weeks. The ministry will limit the amount of government debt state-run banks can buy in the auctions, to curb the threat of political interference in the bond market.

State-owned banks control 90% of banking assets in Iraq. However, there are a lot of private bank start-ups, and several foreign banks are entering the Iraqi market.

Officials expect the annualized yield on the 91-day notes at the July 18 auction to be from 5% to 10%; interest rates on commercial loans now run from 10% to 13%.

Individual investors can get involved by arranging for the banks to buy the bills for them in the auction or by purchasing bills from the banks afterward.

Hey BK,
where can i get those Dinar for 835/1 million?

For M&M and others who might want to know ;),

Iraq to auction treasury bills on July 18
Wed Jul 7, 2004 07:21 PM ET

LONDON, July 7 (Reuters) - Iraq's finance ministry will auction 150 billion dinars of treasury bills on July 18, the Financial Times newspaper reported on Thursday.
The FT said the T-bill issue would be used to repay outstanding debt issued by Saddam Hussein's regime. On June 17, Iraq's central bank governor Sinan al-Shabibi said an Iraqi dinar treasury bill issue was imminent and the proceeds would be used to finance state obligations.

On Wednesday, Iraq's finance minister, Adel Abdul-Mahdi, said Iraq had hired international consultants to help assess financial claims on the country from the Saddam Hussein era.

U.S. accountants Ernst and Young and lawyers Clearly Gottlieb Steen & Hamilton will help the ministry verify debt claims estimated at around $120 billion, he said.

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=5613091

From dinars to T-bills and now stocks. WHAT A FORUM !!!!!

T-bills...I didn't understand, its this bad or good? I just lost myself.

xe is back up to 1455... what's up with that?

im sorry its dima89 not dina89 typo..lol

Never mind, ex is back to 1438... false alarm

ok,i see alot of people still trying to get on this boat and i dont want anyone to miss this opurtunity so i went to ebay made a list of there top sellers for dinars and ones ive delt with here are the guys and 1 girl(lol) to only deal with

$black hills good-3,096 positive feedbacks 99.8% score

anitak99 4,923 positive feedback!!! 100%!!

coinagent 5,028 positive feedback!!! 99.9%!!

dima89 3,858 positive feedback 99.8%

fretzino,he only has 42 but he associtaded with dima89 and jaki2000 he says and says to check there feedback i guess hes there remailer in the states since there out of country

antiqes only has 225 99.6% is a new up and comer but defintly worth trying came through for me a few times

jaki2000 2,037 feedback 99.7%

there is also j.b trader but i can no longer give him my backin or support after hearing how long he was takin to deliver and not actually having in stock what he claimed i cant put my name around a man like that,the others i have listed are the ones you can send your hard eanred money too and sleep at well night i dont want anyone to miss out on this so i hope this helps you,if you want go to ebay click search,then click by seller,then type in these names and read the feedbacks left by other customers for yourself,goodluck

Gustavo,

T-Bills are a good investment, this one moreso than any other I have seen. The reason is that you will yeild 5%-8% in interest, but as the dinar rises in value, so does the T-bill, so you get many times the investment back.

Issueing a debt bond was just a matter of time, they had to do it to clear up the mess Saddam had created. This is a great leap forward for the people of Iraq.

Tony has posted a good list. I have purchased from half of them on that list and had no problem. Jaki2000, Dima89, Anitak99, Antiqes, and also Antiquesgaith.

Jaki2000 and Dima89 are related as are Antiqes and Antiquesgaith. Antitak99 is from Canada and is wonderfull to work with. These are the only ones I buy from now.

http://www.isx-iq.net/page/daily-bulletin.htm

i dont belive this,are you kidding me? look at the stocks today,especially

Baghdad Soft Drinks
Alhilal Products
Modern Paints

these are the only ones im gona get my hands on

baghdad soft drinks
alhilal products
modern paint
alashaa agricultural pro.
baghdad bank
iraqi invesment bank

now when you guys look at the prices like lets say baghdad pop at $19.25 a share keep in thats DINARS!! so 1u.s curreny worth 1460 dinars meaning 1 dollar will buy you 75 shares!!,alshaa is only $0.95 a share but hell i think thats gona be a back door prize and its gona creep up when no ones lookin

you got to be kidding me... I knew they would go.... BUT NOT LIKE THIS!!!

damit its 5:50pm there and my uncle isnt home yet what the hell he doing i need to talk to him!!!! lol

BSD ALLREADY DOUBLES ITS PRICE IN 3 DAYS!!!

for those confused bout the dinat stock to u.s currency ratio check it out its like this lets say

modern paints at $26 a share well 1 us dollar will get you 56 shares..lol yes only 1 us dollar cause you get 1460 for every us dollar so in the future if you wana find out how many shares you can buy divide the stock price by whatever dinars are being exchanged for 1 us dollar at this moment being 1460 average so 1460 divided by $26 and you get 56 shares,so basically for 100 dollars you can get 5,600 shares..lol and if the stock only goes up by 1 dollar,youve made 5,600 dinars in 1 day by the looks of things they will go up higher by more then a dollar keep in mind baghdad pop company was at $9 a few days ago in a matter of days its gone up $10

M&M is gona flip when she see's this lol

For those interested in Baghdad Soft Drinks:

Pepsi back to Iraq

US soft drink maker to start producing, distributing Pepsi cola, other drinks in first half of 2004 in more than decade.

PURCHASE, New York - Pepsi cola will be reintroduced to Iraq for the first time in more than a decade under an agreement announced Wednesday by the soft drink maker, PepsiCo International.

PepsiCo said it signed a deal with Baghdad Soft Drinks Company, Iraq's largest soft drink bottler, to produce and distribute Pepsi cola and the company's other drinks, including 7Up and Mirinda.

The agreement serves an area in central Iraq with some 26 million people. The drinks will be available in the first half of 2004.

PepsiCo said the deal would create some 2,000 new jobs at Baghdad Soft Drinks Company over the next several years.

Pepsi was first launched in Iraq in 1950 and became Iraq's leading soft drink brand, according to PepsiCo.

But the deal with Baghdad Soft Drinks Company ended in 1990, after international sanctions were imposed on Iraq.

"Iraqis have been great supporters of Pepsi over many years, and we're delighted to resume local production," said Saad Abdul-Latif, president of PepsiCo International's Middle East-Africa region.

"We're very fortunate to again be working in partnership with Baghdad Soft Drinks Company, which has the experience, infrastructure and local knowledge to effectively serve the needs of Iraqi consumers."

Bada boom, bada bing!!

Treasury Bill:
Does anyone know how we can invest in these on July 18th? Seems to me that since the T-Bill will be in Iraq Dinars, it's a great investment to actually buy more Dinar's with less money.

They will have a 91 day vesting period and can yeild approxmiatley 5-8% return annually. Seems like a great investment. Also seems like positive news for the Dinar currency lasting awhile.

Anyone think once these are sold on the market on the 18th that the local exchange rate in Iraq will diminish?

mAN i REALLY NEED IN ON THIS I COULD HAVE DOUBBLED MY 50MILL IN 3 DAYS ARGHHHHH THIS IS KILLING ME!!!!!

can you imagine how happy the employees at pepsi company are,all this extra business means more yearly bonus's,higher raises,more over time,and higher stock prices that they have vested in,another one we cant forget bout is mitsubishi motors they also have been giving a contract to build a factory out there,yes a factory,not just a dealership,but i read they wana build a factory out there lol

T-Bills are not yet available outside of Iraq. The Minister of Finance said he will consider it, but the initial release will not be available to foreign markets. I would think that if the sales of the T-bills starts to fall that he will open it up, but many millions of Iraqis have been sittin on money that is collecting no interest, so there will be a feeding frenzy when this comes out.

this is BS theres hundered of websites selling dinars,but not one has info on where to buy these stocks if your in the U.S i would love to have these in my hands,but looks like im forced to have someone buy them for me.

How can you buy Iraqi stocks?

WOOOO HOOOO I found it!!!!

Tony Im going to NBK tomm to wore my cash and buy BDS....I just found some old news
Original Subject
Kuwait bank service to Iraq
Original Date
2003-12-01 03:01:09

Original Sender
Gulf Daily News

Section: Business

Dateline: KUWAIT CITY

The National Bank of Kuwait announced yesterday it has started offering money transfer services to Iraq, becoming the first local bank to do so since the 1990-91 Gulf War.

Customers can now transfer dollars and Iraqi dinars to banks in Iraq's capital, Baghdad, and the major cities of Basra and Mosul, NBK, the country's largest commerical bank, said in a statement.

Ties between small and Iraq were severed when Saddam Hussein's regime invaded Kuwait in 1990 and occupied it for seven months. A US-led coalition liberated it in the 1991 Gulf War. The border opened after the US and Britain ousted Saddam in April. Forward this article to a Colleague, Associate or Friend Printable version

Copyright © 2003, Gulf Daily News -

All I have to do now is ask NBK who all they can wire to then crossreference those banks with the banks listed as brokers for the isx... mail the forms for a bank account bada bing bada boom

I'M IN THERE!!!!!!!!!

Does anyone know how to purchase Iraqi Stock?

Stacy,

At the moment, it looks like you have to go through an Iraqi bank/broker to buy stock. They don't have an automated system yet. I went to the NBK site and they don't list any of the Iraqi stocks that are currently trading.

I have emailed the Iraqi Central Bank to inquire about this, I will let you all know what their response is.

Jared,

Thank you for the Information

jerry you may have to email me and give me a bit more details has you recive them on how to actually do this,on another note i sat down and made a grapgh of the stocks,i wanted to see how much money a $650 u.s currency investment would bring me per month in dinars,heres what i got

ok i got $650
i buy $200 worth of baghdad pop=15,168 shares
i buy $150 worth of alhila prducts=6,636 shares
i buy $150 worth of modern paints=8,423 shares
i buy $50 worth of alashaa agricul=76,842 shares
i buy $50 worth of baghdad bank=8,848 shares
i buy $50 worth of iraqi invesment=10,428 shares

now ok,lets say the next day the prices on these goes up like this

baghdad pop goes up only $3.75
alhiala goes up only $6
modern paint goes up only $3
alashaa agricul goes up only $0.10
baghdad bank goes up only $1.75
iraqi invesment bank goes up only $2

(ALSO IM INSULTING THESE STOCKS BY WHAT IM SUGGESTING THEY GO UP BY,THEY WILL GO UP HIGHER IM ONLY USING THIS HAS A EXAMPLE)

so in 1 day you have made 165,951 dinars,now if these goes like these for 22 days out of the month since there is no trading saturday and sunday you will have made 3,650,922 dinars in 1 month keep in mind it only took you $650 american dollars to buy 3.6 million dinars you would spend around $3000-$4500 american dollars it only took you $650 plus like i said this is the bare minimum these stocks are gona rise higher then i made them plus keep in mind this was only a $650 u.s currency invesment imagine investing $1000? $3000? or maybe even $5000-$1000 ,a $3000 invesment at these rates would have made you 10,952,766 dinars in only 22 days!!!

How can I get my hands on some Bahgdad Soft Drink stocks? This all seems like a dream come true. Any help on this matter would be greatly appreciated. I am clueless on stocks and need advice pronto!

Tony,

You also have to consider the rising value of the dinar, so you are getting a two for one deal. On a side note, they are closed Fri-Sat, that's how their weekend works. This is even bigger than just the dinar investment. Can't wait to find out how to get it started....

matt we are all waiting for the word from jared he has emailed the kuwaiti bank for information and once he knows,we'll know and we'll take it from there.

Jerry,
did you get a list of banks that the NBK can wire money to? Can you publish it here?

Does anybody know whether a foreigner can open an account with NBK in Kuwait???

Those stock prices are in IQD! Hard to believe.

If you want to buy stocks contact one of the brokers listed here: http://www.isx-iq.net

Has anyone already contacted one of these guys and actually bought stock through these channels?

Marc,

I have emailed the Central Bank of Iraq as well as the Baghdad Bank that is listed in the ISX site. I'm just waiting to hear back from them.

The CB sounds like they really want foreign investors to start rolling in, but the paperwork side has to be cleared up.

Tony, Jared,

your assumptions are not correct! These are "penny stocks" that are traded in IQD not US $! In your example you are assuming a rise of US $ (!!!) 3.75 for Baghdad pop. The current exchange rate is something around 1400 IQD for one US $. Your $ 3.75 rise would reflect 5250 IQD. How likely is that if the stock is currently traded for IQD 19.25 ???

I am not saying this is not an excellent opportunity, but your calculation is not correct.

Marc

I have also emailed Mowafaq Mahmood of the Bank of Baghdad. I'm going to email a few of the other banks too.

Marc,

I think Tony had intended the $3.75 to be 3.75 dinars, not dollars.

Holy Cow -- I go out to run a few errands and Tony's got the whole global market buying up Bagdad Soda Pop. ix-nay on the ocks-stay. You'll drive up the prices...LOL

Getting a cup of coffe then on the phone to Bagdad. I'll post the rates in about 1/2 hr.

Luv you guys! We have a great collection of info developing here. We should start charging for advice..;)

marc when i say $3.75 i mean in dinars that is why in one day you only make 165,951 dinars not $165,951 american dollars so 165,951 dinars would equal out to $113.66 just for that 1 stock in 1 day

RE:
ICCFX 1456.9533 (they finally updated their rates from the old pre-gulf war rate of $3 per Dinar. Did anyone call them, like we did with OANDA, to get them to update? Or are they preparing for something? Hmm...)

Couldn't find anything on yahoo news to support Stacy's announcement... so far :)

Posted by: M&M at July 6, 2004 09:54 AM

Hey that was me, I have been off for the past few days. I havent gotten back with my translators here in Iraq about whats going on. I am working the night shift for the next few days so I doubt that I will be able to get back to any of you for a while. Take care, and for God's sake, ignore your dinars for a while. Nothing bad is going to happen to them in a week. Imagine, "Wow, it has been a week since I checked my rate I wonder what it is....ohh look I am a millionaire." Still thinking of a very merry christmas ahead....

im sorry not 1 stock for all 6 stocks so average is $2500 american dollars =3,650,000 dinars minimum

FYI: Anything that supports security and stability is a plus! Despite my recent musings on Iraq's debts, don't worry too much about France's ability to stymie NATO. They sit on the North Atlantic Council only (the political body of NATO); they do not participate on the NATO International Military Staff. As a consequence, if push comes to shove NATO can act militarily without France. This has happened in the past. So, view this as a positive; don't let ol' Jacques postering in this regard get you down too much!

W/R,

Bill
NATO Could Be Training Iraqi Forces Soon
Updated: Thursday, Jul. 8, 2004 - 11:51 AM

By PAUL AMES
Associated Press Writer

BRUSSELS, Belgium (AP) - NATO instructors could be on the ground in Iraq within weeks to begin training the country's armed forces, the U.S. envoy to the alliance said Thursday, despite continuing differences with France over the nature of the mission.

The 25 NATO nations agreed at a summit last week in Istanbul, Turkey, to offer training to the Iraqi forces, but French President Jacques Chirac argued that should not entail an allied presence on the ground.

He suggested instead that training could be carried out through bilateral missions by individual NATO nations and by instructing Iraqi officers outside the country.

A NATO military delegation is visiting Iraq and is expected to report back to headquarters next week with a range of possible options for carrying out the training.

"Our expectation is that NATO will see its way to do that this summer, a mission in Iraq," Ambassador Nicholas Burns told reporters at allied headquarters. "We very much hope so."

Diplomats said two meetings of NATO envoys in Brussels since the Istanbul summit had done little to narrow the gap between the French and the Americans _ who would prefer a major mission in Iraq under NATO command.

"There's no question that our leaders have already made the decision, that there's going to be a NATO mission in Iraq," Burns said. "There's every reason now for us all to help this new government."

An Iraqi delegation is expected to visit Brussels next week to discuss the issue with NATO officials and meet foreign ministers from the European Union to see how that organization can help with reconstruction.

NATO military experts headed by U.S. Adm. Greg Johnson traveled to Baghdad this week on a mission to assess the training needs. Officials said Johnson, the commander of allied forces in southern Europe, had returned from Iraq to brief the alliance's top brass, while other members of the mission continued the fact-finding trip.

(Copyright 2004 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

who else here is chompin at the bit waiting to figure out how to invest in the isx?

Hello everyone,

My name is Amer Kawar, and I am the seller on eBay called dima89. I was very happy to read these comments and see that we have built such great reputation.

I would like to offer you all the opportunity to buy dinar for $20.00 less than what we are offering on eBay, including free express shipping via FedEx.

All you have to do is email me through the contact us page on IraqPaperMoney.com or through eBay when searching for (dima89), with the title (Truck and Barter). I will instruct you about how to purchase dinars for lower prices and get the best service out there.

It's just my way to say Thank You for all these great comments.

All the best,
Amer Kawar
011 962 77 990991

David,

Just wanted to let you know that I sent you an e-mail with a couple of questions about getting the NID for $687 in Fahaheel. I wasn't sure that you'd check your e-mail soon, but I know you're keeping up with this site, like everyone else. Hope to hear from you soon & stay safe!! Thanks.

Amer-
What are you selling a million for on ebay? IF you can beat or match the offer I have been getting, I will consider purchasing through you. Email me if you have an actual price offer for me

Hello Everyone,
I have been reading this forum for weeks now and I just want to say thank you all for the good information. I am currently in Afghanistan and will be on my way to Iraq or kuwait, waiting to go back home to the good old US. I have purchased some dinar and like all of you just sitting back and praying lol. Good luck everyone and keep the info rolling

Thanks Amer ! That's a very generous offer.
We've received several packages from you. I love the fast FEDEX shipping. I'll email you ...
Mark and Marilyn, NYC

BK,
dima89's price regular price is $898 per Million Dinar. If I hadn't already purchased mine, i would certainly take him up on his nice gesture. He has by far the fastest service.

I love this place...I come here all day!!! I can only buy a little at a time off ebay. I get so much hope when i come here and read the posts. dima89 showed up and posted how cool is that!! My husband is in Iraq he buys a little at a time thru a KBR friend. I wish i knew how much he gets it for. I can't understand him when he calls and he doesn't call often. I can't wait to move to the east side like the jeffersons lol. Just wanted to say thank you for all the information everybody !!!!

This is a nice link on the ISX. It looks like you can setup an account over the WEB. Thanks for all the good info. everyone.

Sorry this is the link

http://www.isx-iq.net/page/about.htm

I'm sending out a few more emails. Two of them were bounced back after 4 hours. So some of their email links may not be working yet.

Snoop - I didnt see any account setup options with that link.

Check these sights out all. Good articles about the future success of the Iraq Stock Exchange.

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=5877

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=5877

Good news all!!!!!!!

Later on!

Here is the other one.

http://www.csmonitor.com/2004/0202/p14s01-wmgn.html

I WANA BUY STOCKS NOWWWW :*(********

Exchange Rates 7/8/04 5:00 pm EST:

ICCFX.com 1457.33 (yesterday 1450.60)
XE.com 1438.86 (yesterday 1437.64)
NBK 1239
Bloomberg 1460
OANDA 1460
Unido 1460
CBI 1460

Nice article Nick, only part I didn't like was the "foreign investors will be able to participate in a couple months". That may be too late, but we can always hope.

Quit yer ballin' and find out how we can do this...
Please :)
Pretty please...
Omg, you just gotta get us a phone number or something...
I can't take it anymore....I called NBK in Kuwait twice and CBI in Iraq once and still no answers..ugh!

I WANT MY ISX !

I want in on the ISX too! BAD!!! Please someone give us some help ASAP! Thanks!

Nice Articles Nick, thanks!

I resisted the urge to but dinars again today. However I fell off the wagon a bit when I saw Amer's offer. Just one more couldn't hurt.....:)

We're celebrating our wedding anniversary tonight, heading out to dinner and a show; a Beatlemania group we saw last year. They were great.

Please...Let's see if we can get a phone number of a Broker handling the ISX. I don't mind the long distance bill. (Flat rate, hehe) I'll post whatever we can find out. Kind of like we did with the dinar dealer's.

Also ... (feel like the General of a small investment Army here, LOL)... We need a definite answer on the Treasury Bills. It looks like it's open to foreign investors...

HI Guys,
just amazing forum, where real people share vital information. I think Iraqi dinar is getting stronger and stronger..todays Official rate IND=1$ at NBK is 1239.0295 on the following link.. http://www.nbk.com/NBK/TopBar/Rates/rates.htm

lmao no one is gona answer you right now M&M its 1:48 am there..dont forget there 9 hours ahead of us..lol

you gotta call midnight tonite to talk to them cause when its midnight here its 9am there.

M&M,
Have a great time.

Hello again,

I am glad to get some great emails from great customers contributing in this discussion. My discounted offer is just to say thank you for being such great customers.

I am quite interested in knowing what kind of ideas do you have in order maybe to further expand the investment in Iraq idea that we have been working on since about a year.

I'll do my best to keep up with this post, maybe after finishing the 200 emails I have remaining :-)

All the best,
Amer Kawar
dima89 on eBay
011 962 77 990991

I visit this site all day long just to find out what great info you all have come up with. This is a great forum.

Question:

I just read and article on yahoo which states the insurgency is worse than previously assessed. The new govt just passed a law allowing martial law, but to you really think that is going to be enough to get this under control?

I want to get in on this soda company! I think I remmeber reading somewhere in the thread that one of the major US beverage makers was looking to buy it. Who said that and where did you find the information?

Again, thanks for the exchange. You all are great.I will be watching for the outcome on this ISX situation.

Guys:
FYI...A quick way to see how the IQD is doing as well as showing "what if" scenarios using a simple spreadsheet:

USD IQD VALUE
1 1439 $6949.27

From the above, the "USD" would be at cell location A1. The "IQD" would be at cell B1, and so on. The "$6949.27" would be at cell C2. The "IQD" shows the number of dinars currently to the dollar, e.g., 1439--as time goes on, the lower, the better ;-)

The formula (macro) for computing the value at cell C2 would be: =(A2/B2)*10000000

The "10000000" is the number of dinars you have, in this example it's 10 million. Note: There are no spaces after the "=" sign in the macro.

In the above spreadsheet example, if the IQD goes to 1, the person would have $10 million; if the USD was 2 and IQD was 1, that would be $20 million.

You could plug in your own amount into the macro with the number of dinars you currently own, e.g, 7 million, etc.

Just wanted to pass this along for "at a glance" calculating without having to access an online currency calculator, especially for those of you who have pocket PCs.

(After previewing this, I noticed that I couldn't get the spreadsheet headings and values exactly lined up--oh well.....)

People buy Dinar:

I have bought several times thru this dealer, very good and respond in excellent times. Amer beats most prices on the net and almost anyone on EBAY>
http://www.iraqpapermoney.com/at site go thru EBAY site cheaper!!
see the early posting he made an offer. I have ordered like 8 times without problems etc. If buy make sure you check out the vendors or sellers. He takes Credit Cards one of few who does. Breck.. Thanks for everyones remarks on the dinar, its nice to get updated quicking now, instead of checking on the sites myself.

Oh I found the info on Pepsi in the thread.

Jared:

Where did you find that article?

I am about to loose my mind. The possibilites are endless. I want on the stock exchange too!

Oh I found the info on Pepsi in the thread.

Jared:

Where did you find that article?

I am about to loose my mind. The possibilites are endless. I want on the stock exchange too!

Hello everyone. I have a great source for those of you wanting to buy dinar in volume. I have had several transactions with this seller, and all were smooth and easy. I waited to refer this seller until I felt good about refering them. He will sell lots of 5,000,000 for 4,150.00 delivered via fedex, and the ship fast. They are very organized. Hope this saves you all some money. You can tell him Shereef refered you if you want, but not necessary. Good luch here is all the info I have on him.
Here are the payment methods:-
1 sending me a money order, cashier check, personal check,
bank draft, Postal MO, Traveller Check , cash in registered mail to my
address:-
Name:- Abdel Jalil H. Ghaith
Address:- P.O.Box 1285, Um Al- Summaq, Postal Code 11821, Amman- Jordan
Phone 00962795196796

2. The second method is sending me a bank wire to my bank address:-
Arab Bank PLC ( King Faisal Street )
Swift Code ( BIC ):- ARABJOAX111
Name:- Abdeljalil Hassan A. Ghaith
Account Number 195930-1/510
Amman- Jordan
Mobile 00962795196796

3. The third method is sendin me a prompt money Transfer from Western Union
Prompt
Money Transfer office or agent or by calling Western Union and do the
transfer over the phone ... you can also do it from their site:-
www.westernunion.com
or from any postoffice Western Union agent.
please provide me with the MTCN ( control Number ) once you do the transfer
so that I withdraw the money here immediately from my local Western Union
office.
please deduct %50 of the Western union Fees from my total as a share on my
part in the Western Union fees.
my address for Western Union is:-
Name:- Abdel Jalil H. Ghaith
Address:- P.O.Box 1285, Um Al- Summaq, Postal Code 11821, Amman- Jordan
Phone 0096264380730
================
shipping is $40 for all with Fedex
==============================
Important Note:- please contact me once you send the money using any method
of payment mentioned above to notify me.

This is his email

antiquesrus@softhome.net

Go Dinar!

any refrences that shows we can trust him and you?

My ebay ID is leadmax, and I sell cars on ebay you can read my feedback 100% positive to learn about me. The person I am refering to you is also an ebay seller his ID is antiquesghaith He has an excellent score on ebay with over 1300 feedback score and over 4000 transactions. Check him out. I worked all the top ebay sellers, and they gave me the best price and the best service. I was treated great and received great service. I don't get that that often....thats why I refered him to all of you.

On the Treasury Bills...

So the Federal Reserve Banks of the U.S. will buy the T-Bills. Then we (the investors) will buy the T-Bills via the Federal Banks? But at what cost?

ok, I think the advertising should stop. Just my personal opinion.

We make our comments on who we have had positive experiences with, but i think anonymous people are taking it a bit too far coming here and posting for no other reason but shameless plugging.

And it's probably not a good thing to put a person's bank account information widely viewable on a message board.

correction to the excel worksheet. As long as the dinar is less then two dollars you would divide if two or more you would have to multiply. Anyone need anything from Afghan ;)

Hey Guys,

Been reading for a few days now / what a great forum. Just wanted to let you know that I spoke with Bank of America today and they charge no extra exchange rate for curreny / It is worked into there rate. Bank VP said that he personnally expects trading of dinar as soon as 45-60 days if not sooner

PB

Hi everyone,

Great discussion. I have been trying to keep up with all of the messages for the last couple of days. I am an American working in Kuwait. I have also invested in some Iraqi dinars.

I have a question regarding American taxes. If I were to start a bank account in Kuwait, exchange the Iraqi Dinar for American dollars, and then transfer the money through the bank back to my bank in America, would I be taxed?

Thanks for any information. - James T.

T-Bills will not be purchased by the U.S. Federal Reserve. Not sure where you got that information. The Minister of Finance has NOT opened the purchase of T-Bills to foreign investors. They will be sold in Iraq first, then they might open it to outside investors.

So far no luck on contacting anyone with links to the ISX. I'm going to keep searching and I may have email replies at work in the morning.

FSM75,

I don't remember which site that was. I wrote a web-bot to scour the net for news on the dinar. I'll have to check tomorrow when I get back to work. Bought another 4.5M today. I should stop but I just can't.

Spin off on Iraq Economice!!!!

Economice Recovery (decades of under-investment) Oil is not the primary element to sucess!!

As we all know , Iraq floats over a lake of OIl, and its reserve is sufficient to feed the world need for decades to come. Gas is 1st to none! An important factor in helping regain its strength back in an even shorter period of time!

AGRICULTURE SECTOR:

Important as these mineral resources, Iraq has vast areas of fertile land and the most precious commodity of allin the MIddle East, WATER H2O!!!!

Also, take into consideration that Iraq was the World's lagrest producer & exporter of dates and that over 600 varieties of PALM TREES are grown in-country. If managed properly this alone can help Iraq get back on its feet in no Time!!

Ive been tracking this site for some time now, all I can say is...Good Job. Here are a few links I have come across.Thanks to everyone http://www.emediawire.com/releases/2004/3/prweb112888.htmhttp://www.thecreditprotector.com/pdf.pdf

Thanks all for the great comments and constant update of information. My husband is currently working in Iraq just outside of Tikrit and he and several of his friends have bought millions of dinar. I check this message board every evening to make sure I'm staying current on the situation. I agree with the comments that this site shouldn't be used to make plugs for dinar salesmen. Thanks again for the great info shared here. -- Bell

I wasn't plugging anyone I was trying to help anyone who is looking to buy dinar find a great source. I thought that was what was going on here. Wish someone had hooked me up with a good source when I bought my first 10,000,000 dinars. I paid 9,300.00, and I could of saved a lot of money. So deal with who you want, and know that I was only trying to be helpful and share what I have spent a lot of time to learn. I hope the dinar fly's. Good luck to all of us!!!!!

LOOK WHAT TONY FOUND ON THE IRAQI STOCK PAGE ;)

global investment house. KSCC
equity research
souk al-safat bldg 2nd floor
p.o box 28807 safat
13149 kuwait
tel(965)240-0551
fax(965)240-0661
web-www.globalinv.net
email-research@global.com.kw

omar m. el-quda
excutive vice president
omar@global.com.kw

shailesh dash
senior financial analyst
shaileshdash@global.com.kw

shahab haider
financial analyst
shahab@global.com.kw

srikanth ramanathan
finanacial analyst
srikanth@global.com.kw

omar f. rihan
assitant financial analyst
oriham@global.com.kw

ok folks these are the guys in charge of the stock exchange i belive so someone do us all a favor and try calling them maybe get us some info

Hello all,

Here is an idea....since we have a vested interest in Iraq and we want Iraq to be restored to a glory worthy of its historical past as the "cradle of civilization" (even if we didn't own dinar), lets put pressure on our federally elected officials to address Iraq's foreign debts.

Write or call your congressmen and senators and tell them that it would be wise to make nations such as France, Russia, Germany, etc, to forgive much of Iraq's debt, for the sake of the Iraqi people. Most of the Iraqi people lived under hellacious conditions under the maniacal Saddam regime. It is up to the rest of the world to do what they can to make sure Iraq, and the people of Iraq, get the successful future that they deserve, both economically and spiritually.

Uncle Michael

Tony ... U out there? errr hello?

Paul,
Could we get the location and phone# to the
Bank of America you talked with?

ITs friday so everything is closed. thursday is the start of their weekend here in Kuwat and in Iraq. Most likely no one will be able to get info untill tomm. I personally want to find out what banks NBK is dealing with in Iraq and then see if they meet my criteria. Criteria being...
1. Have to be established before the war (accounts for their experience and credibility)
2. Has to be listed as a broker for the ISX.

3. Is one of the 12 private banks who just returned from Washington who were in talks with American Banks about American banks purchasing up to 50% of them (also accounts for credibility and projects both longevity and security when partially owned by an American bank = stability)
4. Of course has wiring capabilities with NBK (as I have an account with NBK)

I'm baaaaccck. The show was great!
Oooo I need your love babe, guess you know it's true...

Glad to see everyone's been hard at work. Lots of good articles. I see a few more dinar-a-holics fell off the wagon (It's ok Jared. We understand).

Lol, Tony. I wondered about the time difference but I couldn't figure out how many hours it was. I'll have to try calling again. I think I'll try one of the brokerages tomorrow night.

Sorry about all the sales pitches. I gave the blog address to a dealer to show them what we've been doing. It is an amazing forum. I know we all appreciate the offers in the spirit of generosity that they were given. Maybe we should stick to emailing personal information and referrals to protect each other's privacy.
You never know who's watching.... (any good conspiracy theories?)

I think Amer is one of the biggest and most professional currency dealers. We have some pretty big players in the room. I know many of us are interesting is moving on to bigger and better things than dinar. I'm hoping Amer can help us contact brokers to assist with the T-Bills and the ISX.

I'll be posting the rates early tomorrow.
G'nite all:)

jerry im here whats up

Great posts from everyone. So glad to have found this site. I just got in on the "DINAR FEVER", and I am looking forward to seeing good things come my way.

anyone here have AIM?

YES, should i give my sn over in this forum?

i dont know,are there rules here about it?

I don't a see a link as to where there would be rules. My sn for aim is kap76bd. I am not an investment pro as is seems some people are in this forum. I think you would be more help to me tony then i to you.

I don't a see a link as to where there would be rules. My sn for aim is kap76bd. I am not an investment pro as is seems some people are in this forum. I think you would be more help to me tony then i to you.

If you want to see whats really going on in Iraq and What Iraqis think heres a link with blogs with photos and articles from local news papers there in Iraq. This is a charity site but has tons of info on life there. It will definatly put things in perspective as to what these people are going through.... Jerry
http://iraqiblogtechsupport.blogspot.com/2004_02_01_iraqiblogtechsupport_archive.html

Oh hoho... Tony you got to check this bro...

"Dam I'm Good"
http://www.export.gov/iraq/pdf/iraq_faq_current.pdf

Dont applaud Just throw money :P

I am in Kuwait and working too much so my free time is very limited I am thankful to have found this sight I have turned other people to this site and made nonbelievers into believers. All those links are great as well

jerry thats some good info,but still doesnt tell me how to buy iraqi stock lol

Why don't we all get together and create our own Brokerage/Investment company through an Iraqi Broker? Together we could research the brokers in Iraq and find the best buy. Ask if they are willing to go with this idea. Create a website where we can log in and request purchases of ISX stocks. Send money through the website to the webmaster/investor then have the money transfered to the broker in Iraq to buy our requested stocks.

We would need:
1. Website that includes a Designer/Webmaster & Master Investor
2. Trustworthy Broker in Iraq willing to let in foreign investors in on his game
3. ISX to increase in value
4. Willing Investors (mainly us on this forum) wiling to keep be patient and hopeful.
5. Bank Account

Please Review this thread and add to this list so that we can make this dream a reality. Some people on this thread are new to investing especially in currency trading and they could use a intermediary to get them out of the "rat race."

Note: This is just an idea. I'm only a junior in college that never stops dreaming. Please feel free ignore this and not respond.

velvet rovolver(good band) you have a good idea,but like you you have dreams,some peoples dreams are bigger some are smaller meaning you and i may want to keep the money to make it grow more,but the other people wana pull out now cause they think what they have now is enough and dont wana risk losing it,and its gona cause problems,offcourse a bunch of people getting together helps to buy more and get better deals,but everyone is gona have to be on the same page,it only takes 1 person to rock the boat.

Tony,

You raise thought provoking queries. You are correct indeed most people have very differing views on investing and when to pull and put in their money. But after reading article after article and peoples thread after thread in this forum, these people are serious about investing in Iraq. The country is at its lowest and greatest nation on the face of the planet that has ever graced its contours is helping the little guy and Iraq has no where to go but up. The people who create these threads are sons, husbands, wifes, daughters of people who put their lives on the line for our freedom to create a business where they can come and buy dinar and hopfully stocks. Of course there are risks. We all took the biggest risk by trusting our money in the hands of U.S. foreign policy when we clicked the "Buy It Now" button on eBay. Yes you are right, it does only take 1 person to rock the boat but this is all still up in there air, its just an idea, the boats already a' rockin! People of this forum you ask Why? But I ask Why Not?

Hello everyone,

I personally met Amer Kawar (ebay: dima89) and his family in Jordan. Since I bought a larger amount of IQD I wanted to make sure whom I can trust.
These are great people to deal with and I can only highly recommend them no matter what amount you want to buy!

Marc

I found this the other day its very inspirational it was written before the war and updated mar 2003. So far this guy has been a "Nousterdamus" I mean he perdicited eery thing that has happend so far minus the insurgancy..
HIGHLY RECOMENDED READ!!! A MUST!!!
http://www.heritage.org/Research/MiddleEast/bg1633.cfm

I sure want some of the Bagdad Soft drink stock and am working on the issue.

Don't you people feel bad off making money from a war when people are dying every day and you just sit there in the comfort of your own home, taking advantage of them?

D

Many of these people are not in the comfort of their own home, there are here like myself sucking sand in the Middle East. Point noted, however, it doesn't apply to all.

Ummmm... NO! "D" I know you coulldnt possibly be that ignorant... First of all People are dieing and guess what?!! NOT YOU OR I CAN DO ANYTHING ABOUT IT!!! We cant jump infront of the bullet... there are trained people there on the ground dealing with those issues. I highly doubt that you or any other person can do better that what those in IRAQ are doing allready.

Secondly, we are helping IRAQ the only way we can, by investing in them. Our hard earned money goes right there where its needed most. Every Iraqi Dinar purchased helps finance their forighn reserves. The Central Bank has started from zero to now 2.4 billion in forign cash reserves because of people like us. If we want in on the stock exchange then that just encourages not only the companies but the markets to do better.
If we profit from it then thats ok. I will not lose sleep knowing that I am helping to further a country which is in need.

D,

Many of these people are not in the comfort of their own home, they are here like myself sucking sand in the Middle East. Point noted, however, it doesn't apply to all. Further more, the risk we are taking compared to the salaries we are getting are often not worth it, however, we consider the alternative, unemployment. I have a family that depends on me as a source of income to keep them fed and healthy. Rumors were abound about the money that could be made in Iraq, however, the only people cashing in on the billion dollar contracts are the corporations themselves. The worker bee get a bit more and tax-free advantage, however, they are not "raking it in" and as such a few of us are investing in Iraq as well as our future. I don't want this board to turn political so I will not write again. There is a lot of great info on this site. Thanks to everyone posting!

Here is an informative article published today in the Wall St. Journal by Amir Taheri, an Iranian expat: http://www.nypost.com/postopinion/opedcolumnists/24715.htm I love this site!

Fuck U All Dinar Fever...!
Shut your mouth for discussing Dinar!
What a rubbish issue this is...!

A mother fucker u r

OOOOooooOOO you said the "F" worrrrrddd OOOooooOOO.... Im Teeeeelling...
Jeeze dont ya hate it when insurgents get on the net... Grrrr

Check this out:

http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_derosa&sid=a3cvaoPC1t2E

A Yale professor comments on Iraqi currency speculation!

So far no replies to email, but today is Friday and the Iraqi weekend is Friday-Saturday, so I may not get a response until Sunday.

Called a few of the numbers (9 of them) and only 1 rang. No one answered but that could have been a time issue.

I'll keep digging....

some awsome news http://www.rebuild-iraq-expo.com/news_details.asp?id=377

it says it already has 12 companies in the stock exchange and within the new few motnhs a 100 more will come!!!!!!! plus at the bottom it says But once the automated system is up and running, they noted, absolutely anyone will be able to participate

oh man i cant wait i feel like a kid on xmas morning

and whats with imran lol

Good Morning my hopeful friends. I appreciate all the hard work everyone is putting into this board. I love waking up to all these great articles. There truly is power in numbers. We are very fortunate to have found each other here.

Welcome D -- I'm sorry that you cannot appreciate what we're doing. Every US dollar we spend in Iraq directly supports the prosperity that will allow the Iraqi's to live freely. We all do our part. Able young men and women voluntarily join the military to fight for their country. Doctor's and other specialists leave the comfort of the private lives to go halfway arond the world just to help. Grandma's like me and working Joe's can put their hard earned money into anything they want to try to earn a future for their kids. They Chose Iraq. You should be very glad. I know you've probably heard terrible things about Americans but I can assure you, if true, they are about a limited few. Just like when we see Muslim Extremists brutally beheading someone. It would be so easy to say that all Muslims are like that. But, as educated people, we know that's not true. Please pray for enlightenment, it will come. God's world is so much bigger than yours or mine.

As far as Imran Khan -- Spewing hate is unacceptable. We are justified. One of the freedoms we enjoy in the US is "Freedom of Speech". It's also what allows you to say such awful things without retaliation. You should be ashamed to expose yourself in this room full of intelligent, prosperous and dedicated people. There are investors here from around the world. You do not represent your people well and should probably refrain from any further outbursts. If you'd like to make a valid comment as to why you think the international community should not support a free Iraq, we are all open to a civil debate. That's how it's done in a democracy. We can agree to disagree and live together in peace.

I love you Tony :)

Tony,

Only problem I see with the broker list is the extension .kw, which would mean Kuwait. I went to the Kuwaiti stock exchange and found no listings for the Iraqi companies. I don't think anyone outside of Iraq has a trader in the building.

I've emailed almost every bank in Iraq, about 60% of the emails have bounced with no delivery. That tells me the infrastructure between banks isn't up quite yet, or the addresses they gave have been changed and the haven't updated their sites yet. Still trying, I just finished an email to the US Embassy in Iraq to see if they have any info.

Well said M&M, well said!

indeed well put M&M jared it seems impossiable to actually talk to a live voice there bout this stick situation im just gona keep trying to get in contact with my uncle hopfully by monday i can get some concrete news that i can stand on and present to you,ive tryed every single email and phone number and nothing.

damn i meant stock not stick..lol

xe has the dinar lowest ive ever seen it

1,435.14

Today's rates 7/9/04 10:00 AM EST

NBK 1239.0295
XE 1435.14
ICCFX 1460.0431
CBI 1460
OANDA 1460
Bloomberg 1460
Unido 1460

They seem to be a real time quote system. They show changes throughout the day.
I see a beautiful trend emerging here:

XE.com

7/4 1461.55
7/5 1456.00
7/6 1446.48
7/7 1437.64
7/8 1438.86
7/9 1435.14

Talked with Bank of America this morning and could
not get anyone to give me info on the dinar.
I placed an order with Amer Kawar on Monday and
receieved it this morning.

Oh man bad news... Ibeen trying to figgure it out all day. I found that NBK purchased 85% of Credit bank of Iraq and is also purchased The Trade Bank of Iraq. Well the bad news is when I dug into it I came up With a PDF file on a german website. I did the best I could but my german is not what it use to be. The pdf file is in ENGLISH and it shows NBK's finantial forecast in 2009
It shows that in 2009 Iraqs GDP/Capita will be close to that of Algeria And Bulgaria. NBK did this assessment based on I dont know what...
Heres the link see for your self and Please some one explaine this to me!!!
http://www.diht.de/inhalt/themen/international_neu/regionen/downloads/irak_ws3_4.pdf

who can tell me about banks in Iraq?
Which is good to put some of my money in? A normal bank, Private bank, International Bank?? What's the difference between them all?

I'm in Iraq and am working with my interpreter to set up an account. He says the best bank is the Iraq National Bank, also known as Al-Rafdean Bank. He said the savings account is also at 7%.
I have him checking on T-Bills also.
He said he is going to get me one as a present becuase I bought him and his family a sheep as a gift. He says it's the least he can do, so I thought that was cool. It will be in his name he said, so I don't see how he can give it to me. I also have him checking on starting to invest in the ISX. I showed him a bunch of what was posted ( I write everything down in notes and things to invest in, it helps cause I'm new at all this) and he immediately pointed to Coca-Cola and the Baghdad Soft Drink and went on to tell about the contracts that they have and that the stocks will be very profitable.
If I can get it started, I'm thinking about doing the T-Bill thing and sell them before they are offered to us Non-Iraqi's. They will all be in my interpreters name though. Is that smart or not so smart?? I'm not familiar with all this financial stuff but have always been interested in the investing and making money side of these types of things.
Let me know what your thoughts and opinions are and I will email you. If I do email some of you, do not give my email out to others or I will not deal with you any of you.

who can tell me about banks in Iraq?
Which is good to put some of my money in? A normal bank, Private bank, International Bank?? What's the difference between them all?

I'm in Iraq and am working with my interpreter to set up an account. He says the best bank is the Iraq National Bank, also known as Al-Rafdean Bank. He said the savings account is also at 7%.
I have him checking on T-Bills also.
He said he is going to get me one as a present becuase I bought him and his family a sheep as a gift. He says it's the least he can do, so I thought that was cool. It will be in his name he said, so I don't see how he can give it to me. I also have him checking on starting to invest in the ISX. I showed him a bunch of what was posted ( I write everything down in notes and things to invest in, it helps cause I'm new at all this) and he immediately pointed to Coca-Cola and the Baghdad Soft Drink and went on to tell about the contracts that they have and that the stocks will be very profitable.
If I can get it started, I'm thinking about doing the T-Bill thing and sell them before they are offered to us Non-Iraqi's. They will all be in my interpreters name though. Is that smart or not so smart?? I'm not familiar with all this financial stuff but have always been interested in the investing and making money side of these types of things.
Let me know what your thoughts and opinions are and I will email you. If I do email some of you, do not give my email out to others or I will not deal with you any of you.

Velvet Revolver has a brilliant idea. A great entreprenaurial mind. The most important concept I learned in Marketing was " Find a need and fill it". There's a great potential here for someone who knows how to pull all this data together and provide the service we are all screaming for, and make a fortune doing it. Retail services like the currency exchange we're doing now are the most likely sources to help up with T-Bills and the ISX. Our friends in Jordan may be our best allies.

Hey J -- That sounds like a great opportunity. He sounds like a good friend. You gave him a sheep? That's a heartwarming story, you're a good man. I don't know about this whole 'name' thing. Take a look at it and let us know. If nothing else you'll be able to find out "How" to get them. Ask him to provide a name and phone number of the broker he uses. Then once it's open to foreign investors, we can jump in. That way we can, in some small way, help your friend too. By using his guy, he gains favor and reputation and we have someone we can trust. Just an idea ... :)

I read the Bloomberg article about Dinar Speculation (all you cowboys out there!). He cites the possibility of the insurgency overtaking the country. While this is not beyond the realm of possibility, many of you, my fellow cowboys, are a lot closer to the action than a candy ass Yale professor. So I ask: Realistically, do the insurgents stand a chance of mucking this up?

:) Throwing coins at Jerry's feet... nice find!

Jerry:

You lost me. Why exactly are those purchases not a good thing? Based on your comment regarding the projected per capita of Algeria and other contries is not good. The question is whether or not it is better than it is right now and will you make a profit off your investment, isn't it? Please expound.

fsm75

Hey Fredo -- This is a great article, thanks. Candid, insightful and 'on the ground' in Iraq! I'll post it again in case anyone mssed it...
A must Read:
http://www.nypost.com/postopinion/opedcolumnists/24715.htm

Has anybody applied for a McDonald franchise in central Baghdad yet?

No seriously. There are other ways of directly investing into Iraq´s future. You don´t have to send money to Baghdad yet. Once their automated system is up an running it will be much easier to place orders.

Until then: www.petrelresources.com

Read the story of this company. You will be amazed. For those of you who speak german, read the research article.

Marc

Time and time again you'll see posts here from military and civilian workers in Iraq, Afghanistan and Kuwait, saying how things have changed dramatically for the better. Schools, hospitals, food and medicine ,that the people have been denied for decades, are finally flowing into the areas where it's so desparately needed. One soldier said how stunned he was when he got back home and saw the TV news coverage of the war. He said that there was so much good news that wasn't being reported.
Maybe it just wasn't exciting enough to make the news ratings. It seems the dramatic footage is what makes it to the screen. Those folks that are are in it, or close to it, will probably tell Fredo, No Way. The terrorists in Iraq don't have a chance. The Coalition Forces could have destroyed them by now, but they are trying extremely hard to avoid civilian deaths, usually to their own detriment. "No greater love..."

M&M:

Where are you located? What are your thoughts on this NBK pruchase?

Marc has a good point. Didn't someone here mention before that it was Burger King who got that contract?

I'm headed out.. catch you guys later.

Are there any banks setting up bank accounts in Iraqi dinars other than just in Irag? Taking your Iraqi dinars and putting them into a Swiss bank account for example. Great to see freedom of speech in action.
In my year here in Iraq I have seen great changes. This country will be great again if they follow freedoms path.

Tony-- I'm in NYC. I only browsed the article but it I'm reading it right, I think it's a sign of confidence. Buying debt can be a lucrative investment. Especially when they'res a surge of new money coming in. The earnings are in the interest charges. All gravy...

Nice article M&M, it has a bunch of things that need to be done, but it will take time. I like to see they are pressing on without allowing the insurgents to disrupt them much.

Thanks for that tdog !
I think Jared is working on the banks and may have some info for us on Monday...

I'm headed for the hot tub, ciao :)

Hey guys...great thread you have going. I am one of six people in my circle of friends that have purchased NIDs. I must be addicted too as I keep buying million after million. Have any of you come acrossed any speculatory atricles on what the NID will be pegged at. I have heard what you have....".31 USD"...and the like, but anything from a reputable source? Thanks for the vine...good job!

D AND IMRAN.....

SOME OF US ARE HERE IN IRAQ DEALING DAY TO DAY WITH THE IRAQI PEOPLE..WE ALL WANT TO BETTER OUR SELFS AND OUR LIVES. SO WHY ARE YOU CRYING?
CAN'T YOU BUY ANY WHERE YOU ARE AT?

WE HAVE A GREAT BOARD GOING HERE..

Don't want to get political here, however, the affect could have an impact on our mutual investments in IRAQ thus I must ask the question.

I feel Bush is focused and will not allow Iraq to fall back into an unstable government and will commit to building a successful Iraq.

Would Kerry and Edwards continue with this if they win? Has anyone heard their "rhetoric" on the subject as far as the U.S. continuing to help build a better Iraq?

I read the Yale Professor's article and yes, it caused concern, however, re-reading the CPA reason for not establishing a Currency council brought my spirits back up.

I look at it this way none the less...I could blow $500 in Vegas on vacation and get a weekend of entertainment and likely end up in the hole, however, I chose to invest in a democracy and get the benefit of years of entertainment thru anticipation, hopes and dreams. And believe me, I am in the Middle East, I will do good for not only the Iraqi people, but many children in the Middle East with my returns.I currently live in the Middle East.

The children really are the future. I see teenagers here that have little respect. Why? I don't know that their parent have taught them. By the way I am not in Iraq, however, the mentallity seems to be predominant. I want to teach them the value of respect for other people opinions, thoughts, loves and lives.

Anyone can throw money at them and hope they catch on that the generousity given to them was due to humanity, however, that is not likely the case.

Anyone who has children will know that. Don't spoil them.

They need to know the sacrifices that were made in order for them to enjoy an happiness with their family and their future.

Children are the key to success in peace!!!

M&M,

You would make a great diplomat. In reference to Imran's outbursts and D's comments, I couldn't have said it better myself. Thank you!

I wish more individuals would realize that we are taking a risk while trying to improvie both thier lives as well as ours at the same time.

JerryHats off to you man...

I wasn't standing in line when God handed out patience, diplomacy and humor...LOL

"Jeeze dont ya hate it when insurgents get on the net..."Grrrr

That was great!!! We deal with these types all the time. Was nice to have a laugh over here....Thank you!

D,

What we are doing is not only helping Iraq, it also stimulates the worlds economy. If I were to become a millionaire, do you really think I wouldn't spend any of it? Yes, it would help the american economy, but many things I buy are not from the US, so I am then helping the economy in China, Indonesia, Germany, Italy, etc.

You need to look at a bigger picture. Look at the other countries that were on their knees who are now coming back strong. Somebody has to make money somewhere. I'd rather see it happen to us worker bees than to have all the money go to corporate greed.

I plan on traveling all over the world if this works out, helping everyones economy. You just need to look at the bigger picture.

Why The Children Are The Future

I can't quote any figures, however, I would give an educated guess based on my experience in the Middle East since 1997.

I would say the average age was 20 with a range from 14-30 aside from Bin Laddel (Insult intended!). This is not dissimilar to inner-city gangs around the world.

When we were young, ten years seemed like a long time. Now that we are older, we know better.

Now is the time to help them cherrish life.

Linke from Reuters about the banking system trying to be setup in Iraq. Looks like the deadline is by the end of the year. I wouldn't expect for the Dinar to be internationally traded on the currency market for another year.

http://www.reuters.com/newsArticle.jhtml?type=businessNews&storyID=5630904

I too would like to see a source on the .31cent thought process. Don't want to get my hopes up. They could easily introduce the dinar at the rate it is currently at now. We need an expert opionion! Anyone know an expert in the currency market?

Hello again guys and dolls! Time for a dumbass question? What does LOL stand for? I await your wittiest replies..

jared your right,wed be helping other countries by buying,ferrari's and maybach's..lol

I Am A Dreamer Too...

All,

Though I am optomistic about the future of IRAQ, I value your thoughts in reference to the Yale Professor's article.

I don't expect the U.S. will allow insurgents to manipulate the Dinar by overtaking the government. I am concerned about whether or not the "Central Bank Of Iraq" will continue printing money the way Saddam did in order to supplement the economy and pay debts. They say they have laws to prevent this, however, will they abide by them is my question?

I don't want to be the bearer of skeptisism, however, I want to face reallity. Any thoughts?

LOL=laugh out loud
LMAO-laughing my ass off
$$$$$$$$$$$$$= us in 2-5 years..lol

$250m oil investment for Iraq 8/7/2004

An Iraqi state oil company has started investing $250 million to repair damaged oil pipelines and depots and set up new ones, a media report said. The state-run Al Sabah newspaper said that the investment was recently allocated to the State Company for Oil Projects (SCOP). According to the report, the project includes stretching new networks of pipelines to supply liquid gas for cooking and operating power systems. SCOP would buy equipment and needed spare parts for the work from abroad, but its technicians would do the fieldwork. The report, however, gave no further details about the length of the pipelines, their locations and where the money would come from. “The project includes connecting various Iraqi provinces with a network of pipelines to supply liquid gas for domestic use,” the report quoted SCOP director Ahmed Al Shammaa as saying. He said the pipelines, which would be repaired or set up, would be of 22 to 44 inch in diameter, according to the report. According to the report, Al Shammaa said that the project would also include locating 20 oil depots, each of a capacity of 10,000 cu m. He said SCOP had already contracted to buy eight more oil depots planned to be installed in southern Iraq.

My gosh! I haven't checked the forum in a couple of days and now I'm way behind!!! Gonna take a week to read everybody's input. Have you seen this site?

http://www.scgs.us/

ann if it were to open at $0.43 a dinar i dont even want to think what people are gona do,they will buy every dinar that isnt nailed down,and will sell everything they can just to buy more lol

Kyle,

The Reuters article refers to HSBC (London) and Standard Chartered banks. Those have no impact on the Iraqi banks linking with the World Bank and opening on the market. Those two banks have asked to enter the country to do business and have received licenses. They are putting themselves on hold due to security reasons.

As soon as the World Bank comes in and gets the Central Bank and the other Iraqi banks online the dinar can start floating out to the world. The HSBC, Standard, and Kuwaiti National will arrive after a time. The entry of the World Bank is the only thing that can delay the dinars release to the open market.

The .31 cent thought process:

This is where the Dinar was at before the latest invasion. Many times this has been the bar for the reintroduction of currency.

Kuwait for instance, dropped to .06 and was frozen. When the currency was released again, it started at .06 and went up.

That is in no way a guarantee that it will open at .31, could be higher or lower. We really will not know until we hear what they are going to peg the dinar to. So I'm afraid we're all going to be in the dark until the decision is made.

Hmmm.

Wall Street Journal, Forbes, and Reuters have all pulled the story on Pepsi's agreement with Baghdad Soft Drinks. I get the feeling Pepsi wanted to make that annoucement to their stockholders first. The reports that those news services did were statements from BSD on the agreements. I was wondering why I could not find anything on the Pepsi site to verify it. There are now references to Coke stepping up talks with BSD..... things are afoot.....

This is a great forum...

Tony, you are a trip. You have great info and deliver it with good cheer. Keep up the info!

Jared,
You seem to be very knowledeable, thanks for the insight. What are you own personal thoughts on it being re-introduced? This year or next summer?

I have been "attached" to this site since Tuesday, not missing one post, article or website that everyone mentions. We just recently found out about this awesome opportunity over the 4th when we were visiting some family out of town. Until then, we had no clue about the opportunitues that were before us.

We live on the Gulf Coast here in Texas and we pretty much are considered to be a little on the "country" side (my husband moreso than myself) in our way of living & thinking. The family that we were visiting and all of their friends are even worse in that way than we are & they are the ones that let us in on this. They live very close to a military base and some of the soldiers that have come home from Iraq have gotten the word out about the possibilities of $$$$ as far as the Iraqi Dinar is concerned. They told us about all of the details, but I still wanted to do a little research myself before we made an investment of our own.

Through my research, immediately I came across this website and I don't think that all of the other ones put together could have given me as much valuable knowledge & insight that I have received from all of you. (and that's just in 4 days) Every doubt that I was having, any questions that I had & all of my concerns, I was able to get resolved right here. I am so impressed with the overpouring of generosity that everyone shows as far as making sure that we all have the most accurate, up-to-date information. For those of you that are behind all of the hard work of keeping us informed, please know that your efforts are so greatly appreciated. I don't think that I could thank you enough for all of the help that you've given me. But, maybe when our perserverance has paid off, then those of us that have kept up with one another through this site can all meet on a beautiful island somewhere and enjoy our wealth together.

As far as the tasteless outbursts that some people feel that they have to write, they obviously have "issues" they need to deal with. I was very impressed with the way that situation was handled. Anyone could have lashed out right back at this idiot and it would have went on for days. But, I'm sure he saw that no one here was concerned with his lack of intelligence and he went on to invade someone else's territory.

My outlook on this whole thing is this: It's just like taking your money and investing it in the Stock Market somewhere or placing it in any other money-making deal, except the return we're gonna get on our investment here will be far greater than any of the others. (I'm hoping!!) I for one would much rather be on that ship that is sailing off to paradise than the one that everyone is waving to, left here standing in my own misery & regret!

Well, I've gone on enough! I just wanted to express my appreciation to all of you for your extraordinary efforts in keeping the rest of us informed on this whole adventure. I for one have become addicted to reading this and enjoy every line of it. As long as ya'll are writing, then I'll be over here reading & maybe from time to time, I'll add my 2 cents. Thanks again & keep on keepin' on!

God Bless,

Rhonda

Thanks Rhonda and I agree. We've got a darn good board going here. Actually, one of the best boards that I have posted to. Everybody's 2 cents is wanted and needed here. I myself don't like one-way views, I like to see everyones and then paint my picture. Enjoy and hang on, good things are coming our way.

Kyle,

I think it will be this year. I've been looking at Oct-Nov timeframe but they have been working on projects in the background that we didn't know were going. The Italians and the World Bank designing and testing the infrastructure that is to be used had started in February. I didn't think they would even start until the WB gets into a building. That could speed things up tremendously. I'm still going to sit pat on Oct-Nov but would not be suprised if they come out in August. There is still a lot to do, but they are slowing down at all, in fact they are taking leaps forward.

Folks,

Just stumbled (figuratively) on this site.....interesting. Where do you get the entry figures- .40-ish and .30-ish for the Dinar? Also, where do you get the info for entry onto the world market for the NID? I bought 10 mil for around 5k from a bud doing the KBR-H thing. He bought about the same. Just wondering when to start doing the conversion.......

F

Hey Guys...question. Is this something that we want to tell to all of our friends, or should one keep it to themselves? I would imagine that the more the merrier since demand will obviously drive up the value. Is that your take in the current arena? I think that I could become quite a salesman if I should. Oh yes...The World Bank has just released the initial value of the NID...oops, my transmission from Irum with ASIAN RESEARCH DEPARTMENT was cut off! Just joshin'

Fred,
I believe 40-ish came from this site www.scgs.us posted a few times on this board.
Jared's posting today at 3:26pm explains the 30-ish very well.

Scott,

Tell all you would like to about it. It's on eBay so there are many people going after it. The best line to give them is to "only invest what you can afford to lose". There are no guarantees that this will work out, but this is one of the biggest opportunites of a lifetime. It's worth the risk because of how big the reward can be, but you need to remember to keep your feet on the ground.

Fred,

The entry to the world market is down the road yet. They have to:

1)Get the World Bank building up and running.
2)Define the peg for the dinar's valuation.
3)Complete the infrastructure to the other banks inside and outside of Iraq.

Information is sparce on this for security reasons. The information we have attained so far has come "after the fact", that is once it is up and running, then they tell us it's up. It is difficult to get any kind of game plan made when you are not privy to the information food chain.

Totally Agree

Question: how do you guys here contain your excitement day to day, given that this is obviously a long-term play? (I've got 10 million dinar and I'm trying hard to avoid thinking about it every day, obviously without success.) I think the best way would be to forget about it for 3 years, then check back in, but I can't stay away.

Jared,

Thanks. I just wondered about spreading the word. You're absolutely correct about "keeping your feet on the ground". Is there any concern about counterfeiting and the validity of the notes that are being distributed via E-Bay? I have read about the security features, but who's to say? I will spread the word and watch the news. Alaska, where I am, is a major Fed-Ex Hub and the shipments get here Pronto...pretty nice.

Hi everyone,

seems like this fever is a global phenomenon:

http://www.irinnews.org/report.asp?ReportID=39251&SelectRegion=Central_Asia,%20Iraq_Crisis&SelectCountry=IRAQ-PAKISTAN

http://www.rebuild-iraq-expo.com/news_details.asp?id=210

We are not alone...

Looks like the Iraqi people are getting fed up with the insurgents:

http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1089151811390&call_pageid=968332188854&col=968350060724

If that wraps, sorry. Not a bad article, some are starting to see what freedom is, and looks like they want to have it!

Scott,

As long as you are buying from users with a high feedback you should be alright. I hear that there was a ring that was busted in Oklahoma for making fake dinars, but I been unable to verify that story. As long as you research who you are buying them from you should have no problem.

Anthony,

I can't contain it, I'm fit to burst! I hate the waiting game as much as the next person, but hearing the great reports only makes me believe it will happen even more.

jared the good news is they allready have the building ready for the world bank we dont have to wait for construction to build it from ground up its basically ready to move in and start business,but has i hear it,france is being a *&^% bout the money owed to them and its slowing the process down,

just checked yesterdays closing on the stocks only thing changed was

modern paints went down by $0.50
dar alsalam bank went up by $0.30 thats it

i would bet anything next week this time soda pop will be over $25

The only place were you can verify what the Iraqi Dinar value is is on the Central Bank of Iraq website. The bank's website is uruklink.net/cbi/ or go to uruklink.net and click on Central Bank of Iraq. So far for some reason the CBI has only given the value for 6-20-2004. For some reason they have not given the current vaue. EVERYONE NEEDS TO UNDERSTAND THAT THIS IS THE ONLY PLACE TO GET AN ACCURATE VALUE OF THE IRAQI DINAR. I know we all want the value to go up and it will. To what? who knows. When Iraq opens the Iraq Stock Exchange to the public we will firnd out. Just hang in there guys I waqnt it to hit 1 ID to 1 US dollar to. I have 10,000,000,000 myself and if it goes up .25. Well I will be a very happy man. I am currently working in Iraq and one thing is for certain and that is that prices are going up and the dianr is also buying more. Here in Iraq you can only buy things in new Dinar and trust me when I say that that is a good sign of things to come. Good Luck guys!!!!!!!!!!

you have 10 billion dinars? lol

Rhonda
be clear on whom you talking about. no body gana bite you.any way that's my opinion about war agnist iraq. you still thinking this war was wagged because of freedom of iraqi people .. lmao don't say that again people around the world will make fun of you people.It's all for Oil,Gas,..etc. i don't know what school did you go put you sound like idiot recommend you to go in quite room and start thinking again. by the way why did i stoped talking about this subject cause it's not the right room to talke about it not becaus who the satuation has been handled "grow up".

what ever you said -->
As far as the tasteless outbursts that some people feel that they have to write, they obviously have "issues" they need to deal with. I was very impressed with the way that situation was handled. Anyone could have lashed out right back at this idiot and it would have went on for days. But, I'm sure he saw that no one here was concerned with his lack of intelligence and he went on to invade someone else's territory.

lmao again

Myself and wife had to get a Dinar Counselor, because of the high and lows. It's been a real six flag 8G ride, that seems not to let one sleep without dreaming. LOL.....I suppose we all or most are feeling that we went out bought some Calf, MT. property and panning for gold and found that mother load. Enjoying everyone comments.

Does anyone know when the Iraqi Stock Exchange opens? Is it open just to Iraqi's now?

Jared,

When did they bust the ring in Oklahoma making fake dinars? Was that in Oklahoma City by chance? Let me know if you are able to verify that story, please. My family and friends that I spoke of earlier that let us in on this deal were going through someone in Oklahoma City, OK. (We, fortunately, did not!!) I believe that they also had a website www.iraqi-dinar.com, but they dealt with them personally, not over the net!

Any information that you can find out for me, I sure would appreciate. Please feel free to e-mail with anything that you think I should see. All together, those people invested close to $100,000 in USD & I would hate for them to think that they had Dinar that they'd be able to cash in and then find out they're fake, ya know! If anyone else is able to find out more about this or can lead me in the direction of the information, please feel free to e-mail as well. Your help would be greatly appreciated!

By the way, Jared, I agree with you as far as hearing all the different views on various subjects. There are times that I may not have thought of things in a way that someone else might, but thanks to their input, things make a little more sense. And don't you worry, I'll be right behind you in line at the bank when our patience has finally paid off. One thing's for sure, this ole ship ain't sailin' without me! They'll have to throw me overboard. 'Cause no matter how long it takes to for us to get paradise, it sure will be worth that boat ride. There ain't no way that I'll be jumpin' this ship & you can bank on that, too!! LOL Talk to ya soon.

Rhonda

Rhonda

if passed by my comments , just i gnore them else bang your head agnist the wall

regards

I hope your head gets cut off Abdullah!

Anger and Hate are not necessary. I thought we were all friends here.

antiarab

wow another amirican torurist, anti

Thanks ediots for blocking me, losers

American?

Lascilo fare il honor e tagliare la vostra testa? Farò questo per la gente siciliana e la mafia!

FINANCIAL Stats:

BUILD FINANCIAL MARKET STRUCTURES

Modernize the Central Bank; Commercial Banking System; Re-establish Baghdad Stock Exchange; Restructure National Debt

§ The Iraq Stock Exchange opened on June 24 for the first time since the fall of the Ba’athist regime. During the two-hour session, 51 trades were executed in 589,711,002 shares of six companies for a total dollar amount of $2.5 million. During the next trading session later this week, 15 more companies are expected to be admitted for trading, with more admitted each week until all the 114 companies listed are free to trade. For comparison, the first day of trading on the Baghdad Stock Exchange in 1991 saw only 53,000 shares traded.

At the New Iraqi Dinar (NID) auction on June 27, the settlement price was 1,460 dinars per dollar, the same as the previous day, and unchanged from a week ago. The amount of dollars sold at the auction varied over the week from $8.2 - $14.5 million

§ As of June 24, the balance in the Development Fund for Iraq (DFI) was $7.6 billion, comprised of $6.5 billion in the original Federal Reserve Bank of New York (FRBNY) account, and $1.1 billion on deposit in DFI-Baghdad. Of this, $4.6 billion is already committed to projects, and the remaining $3.0 billion is slated for projected 2004 budget items. Since establishment, the DFI investment program at FRBNY has earned $41.534.1 million in interest. As of June 24, the total payments out of the DFI amounted to $13.1 billion.

§ The Program Management Office (PMO) intends to commit $10.4 billion (56 percent of the $18.4 billion supplemental) toward contracts by July 1, 2004. As of June 23 $9.0 billion are committed to Iraq relief and reconstruction efforts, 87 percent of the July 1 goal. As of June 23, $5.3 billion of funds are obligated with contractors. The following shows the money committed by sector as of June 24 against the July 1 target.

§ As of June 22, 2004, estimated crude oil export revenue reached $7.7 billion for 2004 (crude oil export revenue for 2003 [June - December] was $5.1 billion).

I have to input...I can't stand it any longer. M&M you are my friend:) You are awesome! Tony too! All right, since I feel like I know Jerry, ditto's!
Trying to follow everything everyone is saying, Whew!
Need you're pointers here. http://cbs.marketwatch.com/tools/quotes/profile.asp?sid=126382&symb=C_IQD&siteid=mktw
What do think about this link?
Also, General M&M, we are soooooo in debt. My husband is in the sand box and can't seem to come home because he keeps buying dinar$$$$$ ADDICTED. I told him about this forum and he is excited. He keeps wanting to know what ya'll are saying and calls me often for updates. But, honestly, things are changing on a daily bases and I get at lost for words. I'm so overwhelmed with DINAR I'm not sure what to think anymore. I know it's money for money so there really is no loss. It can only go up so the risk is super low. What's this I read about NBK owning 85% of banks in Iraq when earlier sightings said that there would be others? So, then, NBK predicts the dinar would be worth Bulgaria's 1.58 Algeria's 71.43/USD by 2009. I need some focus here. Any pointers M&M, Tony, Jerry?
Also, my husband is telling everyone about this forum that is investing over there (Iraq). It seems the best prices for dinar is in Kuwait. When he was last there while talking to me on his cell I was able to hear the transaction with the money changer he always used at the 'store'-or whatever it was called.
INPUT!INPUT!INPUT!

Wow...What is happening here? Lets just stick to the upbeat, positive discussion and information exchange that was initially happening. That is embarrassing talk for all of us. Think Yachts and travel etc...Has anyone contacted the World Bank about their timeframe? Might be a good plan, huh? It's eighty in Anchorage!

no,alot of people are thinking kuwait is gona run the bank By December 2004 there will be six Western Banks in Iraq and six Iraqi Banks outside Iraq in operation. In March, three banks were given license to operate in Iraq: the National Bank of Kuwait, HSBC Bank and the Charter Bank of England,so the kuwait bank will be in iraq,is kuwait gona run it? maybe i dont know,but it will be in iraq

BY THE WAY

Mitsubishi Motors announced in January that it would open a Baghdad dealership within two years and has already selected a site.

AND

In January, Pepsi announced a deal with that company to rebuild the factory and begin selling Pepsi by June. The plant will employ up to 2,000 workers.

International Banks Licensed to Start Operations in 2004

HSBC Tareq Muhmood

tareqmuhmood@hsbc.com

Standard Chartered Stuart Horsewood

Stuart.Horsewood@ae.standardchartered.com

National Bank of Kuwait Robert Eid

robert.eid@nbki.com
Representative Bank Offices

The First National Bank Ramy Rifat Al- Nimer Beirut Direct

of Lebannon 961 (1) 738 500

Housing Bank for Trade Ibrahim A-Faham Mobile 0790 132 8647

& Finance

Jordan National Bank Tarik S. Al-Timimy Mobile 0790 136 4874

3 KINGS IS ON TONITE ON TNT STATION STARTED AT 7PM GREAT MOVIE

OK, thanks Tony.
Ya'll are doing a great job.
I also told my husband about the ISX and he said "GO FOR IT". I pretty much have free reign on this subject. He does dinar, I do ISX.
Keep the info coming.
I like the yacht thing Scott. In fact:http://nauticblue.com/vacation_planner.asp
They can send a catalog if you want and a schedule of yacht shows. I've had this link since January:)
Waiting for M&M's input...as soon as she's out for the hot tub I hope to hear from her.
By the way. I've been looking at a home that is 20,000+sq ft and has 11 bedrooms, 9 bathrooms, elevator, indoor pool, 2 bowling lanes. Cost: $5mil. If you want the link I have it. I've had it since last month. Before I found this forum. I've been dreaming a long, long, time.
Old saying we've kept:
"Good things come to those who wait. But only things left by those who hustle." -Abraham Lincoln.

Ha:

What is the link for this house you are talking about? I would love to see it?

"If you cannot be trusted with a little, then who shall trust you with much?" Proverbs

Dwell on the things you could do for other people if you were to earn wealth. I do not accept Kharma, or luck, however if I did......
well.....let's just say I would be concerned.

After monitoring the forum for four days I am impressed with some of the knowledge, encouraged by some of the excitement, and hopeful that we all will show patience.

CAP

damn what you gona do with 11 bedrooms and 9 bathrooms lol

only thing i got planned so far is a house for my mom,a bmw for my dad and buy me some commerical propety for invesment.

Tony, you are all class bro'.

U.S. billions already spent on Iraq to succeed & more is coming for a couple years to come, with UN and NATO support for training Iraqi security. As mentioned before, Iraqi people left holding their Saddam dinars a year ago MUST see this new dinar return to a reasonable value. This country needs a currency of REASONABLE value in order to attract business & trade around the world to make their economy work. Those involved with setting the dinar value know this. As far as TAXES & taxing the $$ made by US citizens, the IRS would certainly lick their chops at the opportunity to tax all of those wise/fortunate enough to beleive in Iraq. Without saying, these tax dollars generated would help recoup money already spent on the war & building this country, as well as future expenses. Enjoy the gradual process to wealth...

U.S. billions already spent on Iraq to succeed & more is coming for a couple years to come, with UN and NATO support for training Iraqi security. As mentioned before, Iraqi people left holding their Saddam dinars a year ago MUST see this new dinar return to a reasonable value. This country needs a currency of REASONABLE value in order to attract business & trade around the world to make their economy work. Those involved with setting the dinar value know this. As far as TAXES & taxing the $$ made by US citizens, the IRS would certainly lick their chops at the opportunity to tax all of those wise/fortunate enough to beleive in Iraq. Without saying, these tax dollars generated would help recoup money already spent on the war & building this country, as well as future expenses. Enjoy the gradual process to wealth...

IRAQ
Personal Lives

On a personal level, seven in 10 Iraqis say things overall are going well for them — a result that might surprise outsiders imagining the worst of life in Iraq today. Fifty-six percent say their lives are better now than before the war, compared with 19 percent who say things are worse (23 percent, the same). And the level of personal optimism is extraordinary: Seventy-one percent expect their lives to improve over the next year.

Again there are regional and ethnic differences. In the Kurdish north, 70 percent say their lives overall are better than before the war; in the south, 63 percent. That declines to 54 percent in the central region, and falls under half — to 46 percent — in the greater Baghdad area, home to more than a quarter of Iraqis.

How Iraqis See Their Lives Overall
How things are going today: All North South Central Baghdad
Good 70% 85% 65% 70% 67%
Bad 29 14 34 28 32
Compared to a year ago, before the war:
Better 56% 70% 63% 54% 46%
Same 23 15 21 22 31
Worse 19 13 13 23 23
How they'll be a year from now:
Better 71% 83% 74% 70% 63%
Same 9 4 6 10 16
Worse 7 1 4 9 10

Ratings of Specific Local Conditions

Today Compared to prewar Expectations 1-yr.

Good Bad Better Worse Same Better Worse Same
Schools 72% 26 47% 9 41 74 3 14
Household basics 56 41 47 16 35 76 3 10
Crime protection 53 44 50 21 26 75 4 11

Medical care 51 47 44 16 38 75 3 12
Clean water 50 48 41 16 40 75 4 13
Local gov't 50 38 44 16 29 69 4 12
Additional goods 49 46 44 17 35 75 3 10
Security 49 50 54 26 18 74 5 10

Electricity 35 64 43 23 32 74 5 11
Jobs 26 69 39 25 31 73 4 11

Demographics

The poll also paints a compelling demographic portrait of the Iraqi people. In just 20 percent of Iraqi households does the main breadwinner hold a full-time, outside job; 58 percent are self-employed. Average household income is the equivalent of $164 per month, for an average of eight people per household.

Eighty-one percent of households have a refrigerator; 44 percen