Free For All on the Iraqi Dinar

Hello TrashBucket!

Great Job man... a good for iraqi dinar fans... i am constant visiter of previous threads, that were full of information and hope for the future...keep it up guys!

Good Luck to you all!

Good luck to those about to go over and serve, whether military or civi. It is brave people like yourselves that make me confident about the future of Iraq, and of course, the dinar!

Glad to see this thing keep going. Lets hope our troops have sucess in the next few days.

Friends! Can any body tell in the event of NID increase exchange rate set after Jan 2005 Elections, which is the safe and easier way to get them exchange back to local currencies like $, Eur or Yen etc.
And also what are odds?????

Regards,
Sheikh

Sheikh,

Once the NID hits the open market, you can fly into London and exchange them at HSBC and have the funds wired back to your local account. Or you can fly to Kuwait and trade them at any major bacnk in Kuwait... Or you can take a nice trip to the Caymans and trade them in at any World Bank affiliate..

Good Luck,

Ian

When the ID goes back on the market, I was under the impression that we could go into any international bank here in the US and convert it back to Dollars. Why would we have to fly to London or the Caymans? I am new to this board, and I have learned lots of great info from here. I am anxiously awaiting the Dinar comeback as well. I have 4 million waiting!

Pamela,

Going on the market may happen, at least that's what all of us on this blog hope for anyway. Someday walking into an international bank In NYC and converting dinars will be possible however that will be sometime from now. Stability in Iraq will be the key to it all. Iraq;s national reserve is backed by the USD right now along with 8- % of the world. So long as the dollar holds in the world market and the world still conducts microeconomics and marcoeconomics with the Dollar not the Euro we should all have a grand retirement party in FLA someday down the road.
If the Euro turns out to be the all mightly USD of the future (figuritively speaking I hope.) Hurry up and haul ass overseas to some safe peaceful country and depoist those dinars in an international banking account as dinar and covert those dinars to whatever is strong when you feel like it is time to cash in.

John, US Navy.

Thanks! Ian

I see all the comments, what you say makes sense. "Good Luck to All Dinnar Group"

But why can't we just convert NID at any local bank at once instead of flying to London, or Kuwait, ..etc ?!!!!

who/what determines when the NID goes back on the market?

Dwilamar,

The Alumanatii tell us when, lol, jus kidding. Not realy sure on that one, maybe IMF and World Bank do, looking into it.

I have about 7 million in ID's.
Has anyone look or research the Kuwaiti money before the Desert Storm War in the 90's. I was told some of the similar outcomes may have happen that are happening when Kuwait lost it's value during the invasion of Kuwait. I have heard rumors that the Kuwaiti dinnar reached a low of .10 cent which it could be bought. But yet never heard of a profit made on the Kuwait dinnar after it built back up strength through the 90's and was introduced back on the World market.
Please if someone has creditable info please provide it.

meal-ticket......MANY people profitted from the KD.....its 3 dollars= 1 KD today .....sooooo thats the stink about the IQD now....it will bounce up like the KD did

Can anybody tell me if it is possible to get better exchange rates. online you get about 900/1 and current rates are 1460/1
has anyone found a better deal

All of this with the dinar is pure speculation. My wife and I have ratholed a little and are hoping for the best but it may never pan out. The bottom line is that the possibility of a very good profit is too good to pass up. If we loose several hundred bucks.. oh well. She's got that much in shoes ratholed under the bed. I KNOW they won't make a profit! My advice is don't go overboard and don't make your kids go hungry so you can purchase dinar. Family comes first.

BigAl-
How do You KNOW they wont appreciate?
whats your research?

JL

JL - I was talking about my wife's shoes. I believe the dinar will go up but it may take a while.

JL - Ha Ha... I get it... I wasn't clear in my post. It looks as though I said the dinar is ratholed in my wife's shoes. What I meant to say was she spends alot on shoes and that is a poor investment. BigAl >

Guys'can any body tell or predict when ??????????NID????apprciate???when???? just arrange or time please..............

Morning all,

Rate flux was starting to go up and down, very little on FX converter over the past few weeks. Maybe that is a sign of some things to come, good or bad, well I'm just not sure not sure. You all know that beside the Euro and the NID these are the only new money to hit the world in decades. Look at the Euro, 13 countries, some with exchange rates that were way below the dollar, now look at them, all hold strong to the dollar. If Iraq goes Demo, look at the Demo countries around it like Saudi, Kuwait, UAE, and Bahrain. All of them all around Iraq and they all trade a 3 USD to their money and all deal heavy in Oil. That was enough for us to buy our dinar. My Wife is over in Bahrain (Navy) so we are buying it a a 1440 to 1 rate which is about 700 for 0ne million dinar. We figure, what the heck whats 2100 bucks, we have the money and surely have wasted more than that before on nothing worthy. Hell I would have spent that much on my 69 Nova SS this year, now I'll just let the project car sit for another year. One can only hope. Glad to be an American that's forsure.

Shoaib M S

I don't think ever the World's best Financial specialists will step out on a ledge and make that call Shoaib. I myself think when it does go up it will make one initial huge jump up. Think about it this way. Iraq is all over the news right now, and everyone knows toilet paper is stronger to the dollar right now than the dinar is. If the NID were to slowly come up than many more poeple, than just us big dreamers, would get on the wagon and try to cash in. So in order for that not to happen and IRAQ banks go broke, from outside investment in there new currancy, they will have to jump it up pretty good the 1st time to prevent a major OVER interest/investment in the currancy as not to allow the New banking system to go belly up in a short time from people trying to turn a few extra bucks. Rather I think that about .0010 % of the people in the world are even looking at this as an investment, to much risk for most people. We could get paid big if that jump were to take place. Slowly would be bad for the exchange rate. All this is my opinion with news and personnel interest in what Happened in Kuwait. Being that My wife and I are navy I have been all over the MIdeast countries and trust me when I say that those countries are very rich and It alwasy sucked to exchange the USD a 3 USD to one in those countries. Hell did you all know that 1 Pair of levis over there is 120 american dollars, COFFEE at STARBUCKS was Almost 10 USD just last summer when I was there. Say a pray for my wife guys, she is over in that area till Xmas.

John

John

Thanks for your veiws. We Pray for you & your wife's health, security and WEALTH also in future.

I belive any thing can happend after elections in Jan 2005.

I bought 125,000 NID from http://www.safedinar.com/ for 125.00. Overnight shipping brought it to 149.00. And it was COD. No paying up front. And not too bad a price. Does anyone know of a better/less expensive way to buy?

Yes I do. You can open an Iraqi Bank account with an Iraqi Bank and get the exchange rate that that the baks get in Iraq. Keep reading and you will find out how to do this.

Anyone who reds this forum knows who I am. I am the man who is in Iraq right now and sees the things that you do not hear about on CNN or FOX news. I get an opportunity to meet a lot of Iraqis and am currently doing business with some very especial people. Look guys I get about 2-3 emails a day from people wanting to open up an Iraqi bank account with Al-Warka Investment bank located in Baghdad. The reason why people listen toi what I have to say is not becasue I am selling something, but because of the great opportunity that I give people. It would be so nice if you could be here with me to see all the financial progress that we are going through. I would like to congratulate all of the people that I have helped and will help in the future for opening bank accounts with an Iraqi Bank.

Here is what you need to do to open an Iraqi Bank account;

REMEMBER TO DO ALL OF YOUR REASERCH BEFORE MAKING ANY TYPE OF INVESTMENT. IF YOU NEED ANY HELP THEN JUST LET ME KNOW.
the bank website is alwarkabank.com. They are also at the iraq stock exchage borse at isx-iq.net.
You will have to scan all of the information that you need send to the banks email address. The addresses are warkabank@hotmail.com or warkabank@yahoomail.com.

All you need is this when opening up accounts with this Iraqi bank:
1. Your driverse lisence. NEVER SEND YOUR PASSPORT OVER THE WEB, IT IS TO RISKY.

2.Letter #1:
"I ,your name, authorize al-warka bank to open a US dollar savings account and an Iraqi Dinar savings account for me at the said bank."

(your name and date
your signiture

3.Letter # 2:
"I ,your name, authorize al-warka investment bank to withdraw from my US dollar savings account a certain amount. Then exchange that certain amount for Iraqi Dinars at the exchange rate that the Central Bank of Iraq has set for that day."

"your name and date"
your signiture

The bank is called Al-Warka Investment Bank and these are their corresponding banks. I used this one:
Jordan national bank P.L.C
Swift Code: JONBJOAX
P.O Box 1578
Amman 11118Jordan .C.R.6
Our A/C No. in US Dollars../ 98-02-303123-967322-02

Thank you for your 2 e-mails dated July 17, 2004 and July 17, 2004 .
Thank you for choosing our bank to be your assistance for your financial needs
in Iraq, and it give us a great pleasure to deal with you in our bank . Sorry
for the delay , we have a day off in Friday
You can open two accounts, one in Iraqi Dinar and the other in US Dollars
.For this we need copy of your passport or any official document, specimen of
your signature duly attested, full address, small picture , once the account is
open you can transfer your funds to our bank through one of our corresponding
banks:

Housing Bank for Trade and Finance
Swift Code: HBHOJOAX
P.O Box 7693
Amman 11118 Jordan
Our A/C No. in US Dollars../ 0019583140201

Fransabank S.A.L
Swift Code: FSABLBBX
P.O Box 11-0393 � Beirut 11072808 � Lebanon .
Our A/C No. in US Dollars../ 00500304�03-93002098

Jordan national bank P.L.C
Swift Code: JONBJOAX
P.O Box 1578
Amman 11118Jordan .C.R.6
Our A/C No. in US Dollars../ 98-02-303123-967322-02

International Bank for Trade and Finance
Swift Code: GBTFSYDA
P.O Box 10502
Syria � Damascus
Our A/C No. in US Dollars../ 601-11300-2-3510-0

For exchanging your funds into Iraqi Dinar we ask you to sent an
authorizing letter to our bank signed by your goodself ,to enable the bank to
exchange Dollars to Iraqi Dinars . The form of this authorizing letter is as
follows:
�I ---------------- authorize Al-Warka Investment Bank to draw from my Dollar
account ( current or saving ) in the above Bank and exchange the Dollar into
Iraqi Dinar according to price fixed by the Central Bank of Iraq at that day ,
and then deposit it in my Iraqi Dinar account at the said bank� .

Also we must inform you that any drawing from such account should be made
by you personally or by written authorization from your goodself , and please be
informed that you can not transfer any Iraqi Dinars out of Iraq because it�s
not allowed by the regulation of Iraqi Central Bank .
Kindly inform me what kind of accounts do you need (is it current or saving ?
).

Please find below our charges:
� Transfer fees 0.125% .
� Open Dollar account ( saving or current ) 2$ .
� Open saving Dinar account 1000 ID .
� Open current Dinar account 1500 ID .
� Account statement 2$ .
� Purchase Iraqi Dinar 1.5 ID for each Dollar .
� Purchasing Iraqi Dinar the Central Bank of Iraq take 1 ID for each Dollar

Kindly be informed that , we will draw these charges from your goodself account
.

The amount of exchanging Iraqi Dinars against the Dollar is variable
depending on the market but you can follow the changes through this web site
:"http://www.iraqdirectory.org"
Once your goodself send the informations I need , the accounts will be open .
Thank you again for contacting us and if you need any further information ,
please do not hesitated to contact me .
Dear sir , we remain .
Best regards .

International Relationship Department
Miss Randda B. Al-Shakir

This is their addresss: The best time to call is at 8 am Iraqi time at 964(country code of Iraq) 1 717-2045.

Thank you for your e-mail dated July 17, 2004.
If you want to open only Dinar account , where I will deposit your funds ( Dollars ) when you transfer it to our bank ? it�s better to open a Dollar account .
You can send ( copy of your passport or any official document, specimen of your signature duly attested, full address, small picture ) by e-mail , but if you like to mail it ,our address is :

Head Office
Baghdad � Iraq
Hay Alwihda � Sec. 902 � 14th St.
Tel: 7174970 , 7172828 , 7178444
Fax : 7179555
P.O. Box : 3559 Elwiya
E-mail: warkabank@hotmail.com
warkabank@yahoo.com

My phone number is : 00964 1 7172045
00964 1 7193555
Mobil: 00964 1 7901 403659

When the account open ,I�ll notify you by e-mail .
Whenever you need bank statement , just notify me and I�ll send it to you by e-mail .
We don�t have an ATM or credit card or money machines in Iraq but we are working in it .
Also we must inform you that any drawing from your account should be made by you personally or by written authorization from your goodself , and please be informed that you can not transfer any Iraqi Dinars out of Iraq because it�s not allowed by the regulation of Iraqi Central Bank .
You can contact me be e-mail or phone .
When you transfer your funds , deposit in our account in one of our corresponding banks that I gave you before and write � to be paid for ( your full name ) ,A/C no. ( your Dollar account no ) , Warka Investment Bank � main branch�.
You can transfer your funds from your bank in your country to our corresponding bank .
Dear Sir , we are a very known , respected bank in Iraq and out of Iraq too .

Best regards .

International Relationship Department Randda B. Al-Shakir

Keep up the good work in investing. I think that something exting will accur when the Iraq Stock Exchange opens up to forein investors next year.

Any questions just email me at mcleron5@hotail.com

vador,

thanks for the NONINFORMATION....... i guess it was better than non..... haha.. i also pray for you and your wife.... i honor the men and women that are willing to sacrifice for us. am proud to be an american.

thank-u...............

Friends! New on this forum, I went through all the comments in past and current sessions, its really difficult to access what is right! and what is wrong!!! but I am sure that US Army and all other service man doing a big job there in Iraq, hope every one comes back home SAFE!

About the Dinnar can any body give true estimate how much to 1$ USD is expected in 1st hit after Iraq elections or still its speculations!!! will it be gradual increase or it will jumps at once!!!! if I estimate my 5 mil NID can give me fruit with in next 6 months??? will it be a generious estimate???

"About the Dinar can any body give true estimate how much to 1$ USD is expected in 1st hit after Iraq elections or still its speculations!!! will it be gradual increase or it will jumps at once!!!! if I estimate my 5 mil NID can give me fruit with in next 6 months??? will it be a generous estimate??? "

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

This investment is not a short term- get rich (6 months)
The NID will open By January,_IF_ the debt reduction can be reduced substantially (85%+)
Many, including Myself are predicting an opening
of 1460/1USD(present rate)
and rise growth as security,stability of Iraq's economy improves.
Investing in the Dinar is more of a 'going long'
proposition(5-10yr)

http://www.investorsiraq.com/index.php?

Note that permalinks have been added to the comments, so you may now more easily reference each other...

:)

Let me know if you run into trouble.

kevin@truckandbarter.com

My regrets if your comment was accidentally deleted.

JohnLarue,

Where do you get your information from? You seem so confident in your remark.......please advise.

I just got back from Anaconda - mortars were incoming several times a day. The vehicle I was driving on base was hit by shrapnel from one. Working an 84 hour week and wearing the 50lb. PPE gear finally got to me so I left early, but not before learning about the NID. I've since purchased 2M of the NID's. I know we'll succeed in spite of the chaos. I've done a 10 year study of Iraq before my brief tour over there with KBR. There are several reasons Iraq will become an economic powerhouse. More info can be found at my web site.

Following are several examples why Babylon (present day Iraq) must be a literal, physical and a specific geographical location:

Babylon has not yet completely fulfilled bible prophecy in being utterly destroyed (Jere. 50:26; 51:26, 55, 62; Rev. 18:19, 21) and never again being inhabited forever (Jere. 50:13, 39). The subsequent kingdoms Persia, Greece and Rome conquered Babylon, but never destroyed her. Babylon has been occupied for millennia. After the deportation of the Jews to Babylon, when their seventy years of captivity was completed, only a remnant of Jews returned to rebuild Jerusalem (see: Ezra and Nehemiah). Many continued to live in Babylon. They were even there in the first century (James 1:1; 1 Pet. 5:13).

Babylon is yet to be a future great city and geographical located in what today is Iraq. God commands His people to "come out of her" and "flee from the midst of Babylon, and each of you save his life" before He destroys Babylon (Rev. 18:4; Jer. 51:6). It is clear that in the context of these verses that Babylon is a literal, physical city that God is about to destroy. Babylon is referred to as a literal, physical "great city" more that once in the book of Revelation as well (Rev. 17:18; 18:10, 16, 18, 19, 21).

Babylon will intoxicate the nations with her immorality (Rev. 17:1, 2; 18:3). True, the religious aspect of Babylon, the Harlot, has existed throughout history since originally introduced with the tower of Babel (Gen. 11:1-9) and is depicted as "sitting" (Rev. 12:3; 13:1; 17:3-6) on the seven kingdoms (heads; mountains): Egyptian, Assyrian, Babylonian, Median-Persian, Grecian, Roman and finally will "ride" the back of the beast (Antichrist with ten nation confederacy) in the last days (Rev. 17:7-18). Now, this religious/economic system, which began on a "plain in the land of Shinar" (Gen. 11:2) will return to where it first began in the last days (see: Zech. 5:5-11). Ancient Shinar was the same geographical location of Babylon, which today is in Iraq. Babylon (the Harlot) will be a religious/economic world center once again. [Art used by permission by Pat Marvenko Smith, copyright 1992. Click here to visit her "Revelation Illustrated" site.]

The four empires described as beasts in Daniel representing Babylon (Iraq), Persia (Iran), Syria ( that is one of the four regions of the Grecian kingdom that Alexander the Great gave to one of his four generals to rule), and Rome, are given "an extension of life" and it "was granted to them for an appointed period of time" (Dan. 7:12). Therefore literal Babylon will again have it's place geographically in future bible prophecy.

Just as Israel was often and mistakenly spiritualized, prior to 1948, because no one could believe the literal fulfillment of God's prophetic word that Israel would again be restored in the last days (Ez. 35 and 36), Babylon too is often and mistakenly allegorized as merely existing only in a spiritual sense.

WOW

hi all,

I am a a us army soldier stationed over in iraq.... we got here about 3 months ago and have 10 or so to go.... i just wanted to thank you all for the info on the dinar... some of us older folks are just now doing research on it.. and this answered alot of my questions

be safe

SFC Chris Colligan

1/503d IN REGT

Combat Outpost

Iraq

Wow Ralph, that was interesting to read.... Thanks for the research.. Makes a lot of sense!!! To All Soliers Here, Thanks for the job you are doing. I pray for all of you everyday.. Please come home safe :-)

Chris, Thanks for your service and enjoy your tour! Airborne! All the way!

does anyone know why the CBI hasn't updated it's rates since LAST Saturday the 11th???

does anyone know why the CBI hasn't updated it's rates since LAST Saturday the 11th???

When wa the last time you visited site?
Rates are updated.

Bank was closed sat thru wed for Eide holiday

thanks for responding john,
I am looking at the rates and it still shows the 11th....i refreshed it and it still shows the 11th. so there is something wrong with my computer??? what day does it show when you look at it??

As of now the CBI is showing Thursday 2004/11/18 (1460.000/1459.270).

http:/www.flash.net/~saints/babylon.htm

Is Ebay a good place to buy the Dinar?

http://www.msnbc.msn.com/id/6537207/

Creditors to forgive most of Iraq�s debt
Germany and U.S. reach agreement, finance minister says.................

Wow........................ this is HUGE towards stabalizing the NID

Just a matter of time.

http://www.jubileeiraq.org/blog/

not finalized just yet

deal expected on Sunday

A source at the Paris Club of creditors told Reuters that the deal was likely to be finalized Sunday, adding: "There is an agreement between the main creditors on (cancelling) 80% of the debt." A US official said: "The discussion in the Paris Club is now more on the technical side... and we expect things will be wrapped up soon."

Hi,
You might find further information on Al-Jazeera web site. Here is the refering link to the point of writing-off debts

http://english.aljazeera.net/NR/exeres/26C0E691-EFFB-4F01-A3AA-76CFBA65D185.htm

Wow, lots of information. One would think there is only information on the dinar here, come to find out you can get a history lesson as well. Very enlightening Ralph~
Now, about my thoughts on the dinar; I feel secure in the fact that this country will come up. When we were here in '91 everyone blew off the Kuwait Dinar potential, and now they are regretting that choice to not to invest. Consider how much money you have loss over the course of just a few months in either bad purchases be it food or a bad movie or spent for something you will never have anythign to show for it.

Me, I have nothing to loose and will gain if for no other reason than that I can say I was here, I came, I saw, I contributed, and perhaps I prevailed...Be Blessed And Prosperous in all you do Give Thanks.

Hello Everyone

Fun isn't it. Waiting....Contemplating....This is the hardest part of any investment. Time. Waiting for the pay off.....4 years of College....finally a piece of paper. 20 years in the military....a retirement check. 25 years....looking for my soul mate...then waiting for the engagement to get married. All good things in life are worth waiting for. I think we will all look back and say the same about this. Ciao

Hello there...

Just a bit of info to contemplate. Iraq will rise from it's ashes again. The thing is...what will happen in 5 years. If you have been reading Arab papers Iraq has applied to the GCC (Gulf Cooperative Council). The membership has yet to be approved..as a matter of fact Iraq was granted observer rights. The GCC has made 2 major announcements in the lst several months. (Keep in mind that the majority of the GCC members are large oil producing countries.) The first major announcement was at a meeting in Kuwait. All GCC members agreed to align the economies and banking rules to all meet the same set of pre-approved standards. The second major announcement was that by 2010 all GCC members were going to change/accept a new standard currency among them. This is following the model of the EU and the Euro. How does this stand with the Dinar? To be honest...I feel that there are too many pressures that will not allow the Dinar to do anything but rise in value. Political pressure for Washington and London. Private investors pushing the price up by purchasing the dinar for speculative purposes. Several GCC countries have given aid to help as well. The dinar will rise in value. It has to so that the big time players can cash out. The only thing that I feel certain about is the holding time of 5 years. I think that the GCC will have it's act together and on the right path to succeed. Hold your dinars for a max of 5 years is what I believe will happen. I think they will change again in 2010 and we will have another chance to play this game all over again. Ciao

John

Hey everyone, I read this today on yahoo news, 80% of iraq debt was signed off today.. The article also included this:

first tranche of 30 percent to be written off immediately. Another 30 percent will be canceled when Iraq agrees on a reform program with the International Monetary Fund (news - web sites) expected in 2005. The third and final tranche, representing 20 percent of Iraq's debt to the Paris Club, will be canceled in 2008, once Iraq has completed its 3-year IMF (news - web sites) program, Jouyet said
http://story.news.yahoo.com/news?tmpl=story2&u=/ap/20041121/ap_on_re_mi_ea/iraq_debt
does anyone understand what this means?

John you said :"The dinar will rise in value. It has to so that the big time players can cash out"

where do you think the money will come from?
CBI has only about 4 billion USD in reserves

check this out!!!!!!

http://www.portaliraq.com/shownews.php?id=600

More Treasury Bills On The Way

The senior central bank official said the government would issue more Treasury bills to the secondary market to help create viable domestic capital markets and begin the process of trimming massive prewar debt.

The central bank auctioned Treasury bills from the beginning of July for the first time in years, so far selling 900 billion Iraqi dinars ($628 million) worth of three-month bills with coupons ranging between 2.5 percent and 6.8 percent to local banks, the official said.

The official wouldn't give details of the next planned Treasury bill auctions.

Iraq's central bank is also aiming to build up its foreign-currency reserves to improve the value of the local currency, the dinar, against the dollar, he said. He didn't provide a target exchange rate.

After bank notes with Saddam Hussein's picture were replaced in January by U.K.-printed ones embedded with security features that make them difficult to forge, the dinar has strengthened to 1,460 against the U.S. dollar from around 3,500 against the dollar during the U.S.-led invasion last year.

I am about to purchase 100K in dinar (4 25000K bills), once the it starts to gain value against the dollar, how do I exchange it. Can I go to any bank?

Im about to jump into the Dinar pool with some of you fools! Thought about the shoebox method, but have decided to open an Iraqi account. Heard too many good things from those you have done so. Plus i want in on their stock market: ISX.

This is a chance of a lifetime to buy and suppor the new country before they open their money to the foreign markets. Please someone remind me to sell when it doubles in value. Or wait, at triple Ill sell! :) thanks for the great posts.

When is the dinar getting value....what will be the currency policy of iraqi government after the january elections... does the written-off iraqi debt will affect the future dinar value!....i request to guys to respond who are in iraq.. what are the ground realitites and what are the near-future perspectives?

Best wishes to all!

Casanova- call Miss Cleo perhaps she can help you
with your crystal ball questions....

JohnLarue - i called Miss Cleo.. but she didn't respond, i am not sure about whether she exists.. but i am sure about you...and urge you to say something useful.. if you can't.. just stay your fingers crossed...!!!

We all must stay POSITIVE!!!!

Is this good news or bad news ?!!!

(Iraq parties want polls to be put off)

http://english.aljazeera.net/NR/exeres/B869217C-3556-4BDB-B3EF-7BD8CF7AA88C.htm

Thanks everyone, the posts are great reading. But has anyone noticed that the NID broke its 6 month support level of 1452? Would any of you bulls out there care to share your professional opinion on this small but significant move?

Currently the NID is at a fixed rate of exchange
by the Central Bank of Iraq(Cbiraq.org)
The only rate info that is accurate is from this site.
It cannot move until it opens on the Forex market.
It is not on the market at present- so there is no movement.

How does one get access to Stocks in the ISX? Thanks.

Has anyone attempted a test withdrawal of funds from their Al-Warka (or other) account? If so, was the process successfull or troublesome? Also, will the bank issue any type of VISA or Mastercard Cheque/Debit card? Thanks.

Setting up account with Al-Warka

re: post Dan November 15, 2004 11:49 AM

Has anyone stateside set up an account with Al-Warka? If so, what kind of timeline is reasonable and how is the language barrier?

Also, how did the wire xfer to one of the corresponding banks work for you?

Well Darring let me tell you. I honestly thought that dan was full of it. So I emailed the gy and he gave me an email that showed me excatly what to do to open an iraqi bank account with al-warka investment bank. I was surprized after 3 days of reaserch that it is all true. I called the bank at this number 964(country code of iraq) 1 717-2045 and asked Randda B. Al-Shakir. I got one of their representtitives and had to continously tell them that I needed to speak to someone that speaks english. After about 1 minute the representitive got the picture and patch me to her. She told me everything I needed to open an Iraqi Bank account so I emailed Dan and asked me to send me the same email again and so he did. I Scanned my driverse lisence and the two letters that I needed to give them and send it out to warkabank@hotmai.com. I had to send ti twice because they get so much email evey day that they proably run out of space. I got my US dollar savings account number and my Iraqi Dinar savings account number about 4 days later. They apologized for the delay because of the fact that they are getting so many more foreign costomers. I then send a wire transfer of 1000.00 US dollars from my bank in New York to Jordan National Bank PLC and that took about 7 days to get there. Then another 2 days for it to get to al-warka investment bank in Baghdad. The next day Randda B. emailed me about receiving the money. I then called her so she would send me tanfer papers from what bank it came from and also to excahnge 600 US dollars and exchange it for Iraqi dinars. She did and I got 879,000.00 Iraqqi dinars put in my account. You see I put a traking number on that wire tanfer and called my bank in New York and Jordan National Bank to see if everything was legit and yes it was. I now not only have an Iraqi Bank account, but they are also lisence to buy and sell stocks on the Iraq Stock exchange for me when it opens up to foreign investors. And you know I am going to get in on that. Well anyways here is dans email if you want to make fun, prove hime wrong, or praise him for doing a great job. mcleron5@hotmail.com

Also here is the email that he send me:

REMEMBER TO DO ALL OF YOUR REASERCH BEFORE MAKING ANY TYPE OF INVESTMENT. IF YOU NEED ANY HELP THEN JUST LET ME KNOW.
the bank website is alwarkabank.com. They are also at the iraq stock exchage borse at isx-iq.net.
You will have to scan all of the information that you need send to the banks email address. The addresses are warkabank@hotmail.com or warkabank@yahoomail.com.

All you need is this when opening up accounts with this Iraqi bank:

1. Your drivesrse licence. Never send your passport over the net it is to risky.

2.Letter #1:
"I ,your name, authorize al-warka bank to open a US dollar savings account and an Iraqi Dinar savings account for me at the said bank."

(your name and date
your signiture

3.Letter # 2:
"I ,your name, authorize al-warka investment bank to withdraw from my US dollar savings account a certain amount. Then exchange that certain amount for Iraqi Dinars at the exchange rate that the Central Bank of Iraq has set for that day."

"your name and date"
your signiture

The bank is called Al-Warka Investment Bank and these are their corresponding banks. I used this one:
Jordan national bank P.L.C
Swift Code: JONBJOAX
P.O Box 1578
Amman 11118Jordan .C.R.6
Our A/C No. in US Dollars../ 98-02-303123-967322-02

Thank you for your 2 e-mails dated July 17, 2004 and July 17, 2004 .
Thank you for choosing our bank to be your assistance for your financial needs
in Iraq, and it give us a great pleasure to deal with you in our bank . Sorry
for the delay , we have a day off in Friday
You can open two accounts, one in Iraqi Dinar and the other in US Dollars
.For this we need copy of your passport or any official document, specimen of
your signature duly attested, full address, small picture , once the account is
open you can transfer your funds to our bank through one of our corresponding
banks:

Housing Bank for Trade and Finance
Swift Code: HBHOJOAX
P.O Box 7693
Amman 11118 Jordan
Our A/C No. in US Dollars../ 0019583140201

Fransabank S.A.L
Swift Code: FSABLBBX
P.O Box 11-0393 � Beirut 11072808 � Lebanon .
Our A/C No. in US Dollars../ 00500304�03-93002098

Jordan national bank P.L.C
Swift Code: JONBJOAX
P.O Box 1578
Amman 11118Jordan .C.R.6
Our A/C No. in US Dollars../ 98-02-303123-967322-02

International Bank for Trade and Finance
Swift Code: GBTFSYDA
P.O Box 10502
Syria � Damascus
Our A/C No. in US Dollars../ 601-11300-2-3510-0

For exchanging your funds into Iraqi Dinar we ask you to sent an
authorizing letter to our bank signed by your goodself ,to enable the bank to
exchange Dollars to Iraqi Dinars . The form of this authorizing letter is as
follows:
�I ---------------- authorize Al-Warka Investment Bank to draw from my Dollar
account ( current or saving ) in the above Bank and exchange the Dollar into
Iraqi Dinar according to price fixed by the Central Bank of Iraq at that day ,
and then deposit it in my Iraqi Dinar account at the said bank� .

Also we must inform you that any drawing from such account should be made
by you personally or by written authorization from your goodself , and please be
informed that you can not transfer any Iraqi Dinars out of Iraq because it�s
not allowed by the regulation of Iraqi Central Bank .
Kindly inform me what kind of accounts do you need (is it current or saving ?
).

Please find below our charges:
� Transfer fees 0.125% .
� Open Dollar account ( saving or current ) 2$ .
� Open saving Dinar account 1000 ID .
� Open current Dinar account 1500 ID .
� Account statement 2$ .
� Purchase Iraqi Dinar 1.5 ID for each Dollar .
� Purchasing Iraqi Dinar the Central Bank of Iraq take 1 ID for each Dollar

Kindly be informed that , we will draw these charges from your goodself account
.

The amount of exchanging Iraqi Dinars against the Dollar is variable
depending on the market but you can follow the changes through this web site
:"http://www.iraqdirectory.org"
Once your goodself send the informations I need , the accounts will be open .
Thank you again for contacting us and if you need any further information ,
please do not hesitated to contact me .
Dear sir , we remain .
Best regards .

International Relationship Department
Miss Randda B. Al-Shakir

This is their addresss: The best time to call is at 8 am Iraqi time at 964(country code of Iraq) 1 717-2045.

Thank you for your e-mail dated July 17, 2004.
If you want to open only Dinar account , where I will deposit your funds ( Dollars ) when you transfer it to our bank ? it�s better to open a Dollar account .
You can send ( copy of your passport or any official document, specimen of your signature duly attested, full address, small picture ) by e-mail , but if you like to mail it ,our address is :

Head Office
Baghdad � Iraq
Hay Alwihda � Sec. 902 � 14th St.
Tel: 7174970 , 7172828 , 7178444
Fax : 7179555
P.O. Box : 3559 Elwiya
E-mail: warkabank@hotmail.com
warkabank@yahoo.com

My phone number is : 00964 1 7172045
00964 1 7193555
Mobil: 00964 1 7901 403659

When the account open ,I�ll notify you by e-mail .
Whenever you need bank statement , just notify me and I�ll send it to you by e-mail .
We don�t have an ATM or credit card or money machines in Iraq but we are working in it .
Also we must inform you that any drawing from your account should be made by you personally or by written authorization from your goodself , and please be informed that you can not transfer any Iraqi Dinars out of Iraq because it�s not allowed by the regulation of Iraqi Central Bank .
You can contact me be e-mail or phone .
When you transfer your funds , deposit in our account in one of our corresponding banks that I gave you before and write � to be paid for ( your full name ) ,A/C no. ( your Dollar account no ) , Warka Investment Bank � main branch�.
You can transfer your funds from your bank in your country to our corresponding bank .
Dear Sir , we are a very known , respected bank in Iraq and out of Iraq too .

Best regards .

International Relationship Department Randda B. Al-Shakir

Good luck to us all.

Steve,

thx for the feedback. The bank is setting up my account now...

btw, how many of you have read thru the CPA laws that the new Iraqi govt has accepted? In essence, every logical law for a true, democratic free market is in place. All other things being equal, a business in Iraq will have a double digit advantage over one in the EU or even the US, due to simplified taxes, low overhead and the lack of vested interests. This is indeed a blessed time for the citizens of Iraq and a market opportunity for all of us.

If only they could get that key element
that ties all this together....

_Security_ ,_Security_,Security_!

Security>stability>economic growth>reconstruction
training of the IDF ,and and the elections being a success
and all the ethnic-political factions
getting along.....

without the security, nothing else really matters
or is gonna mesh

Does anyone knows if the Election is still on schedule for Jan 05.

does anyone know why we would have to email warkabank@HOTMAI.com vs the address on the site: warkabank@alwarkabank.com?

I am just an everyday blue collar guy, that heard about his investment and could not resist the investment. I have read through all the entry's but I am still unsure of the best way to go about exchanging my newly acquired investment. If this works I am willing to travel, that's a no brainer. But I have contacted several banks in Seattle and in LA and none can help me. Can any of you tell me the best to do this? I have 1 million Dinar and I worry that Banks will not be able to support such an exchange. Can you ease my mind or tell me a good contact. I am not sold on the opening of a bank account in Iraq. Is this just ignorance, or is there somewhere in the States to do this?

regarding Warka bank
Randda Shakir(rep) is handling all requests
thru the hotmail address

Iraq's Infrastructure is not up to
the par the way we use instant electronic
bank transactions for obvious reasons

alwarkabank.com
does not have a secure connection
for the above reasons

I am just an everyday blue collar guy, that heard about his investment and could not resist the investment. I have read through all the entry's but I am still unsure of the best way to go about exchanging my newly acquired investment. If this works I am willing to travel, that's a no brainer. But I have contacted several banks in Seattle and in LA and none can help me. Can any of you tell me the best to do this? I have 1 million Dinar and I worry that Banks will not be able to support such an exchange. Can you ease my mind or tell me a good contact. I am not sold on the opening of a bank account in Iraq. Is this just ignorance, or is there somewhere in the States to do this?

Tom-
You can't convert the NID at US banks until it opens on The Forex and banks accept NID
at present the only way to sell/convert NID is in Iraq or on Ebay.it is an Illiquid currency
But you really do not want to sell now do you?
not at the present rate of $1USD/1460 NID

John,
Thanks for the response. No I do not want to cash out now. But from what I have researched, I am worried that the Dinar will jump in value before it is on the open market, if that happens what is our best option?

Tom-
The NID is at a fixed rate of exchange by the
CBI 1460,highly doubtful it will move before it
is on forex.
If you have purchased Dinar already,I am missing
what you are saying in regards to NID appreciating?
"banks will not be able to support"??
need more clarification in what you are asking?

John,
Sorry, I am new at this. Your saying the NID cannot change until it is on the open market, right? And about the the banks, when the NID goes to market and we are all able to cash out, there will be a flood of people with millions of dollars worth of Dinars standing in line. Will local Banks be able to support such exchanges?

Tom-
You probably should do some research on the Forex Market.
When a currency opens for Interbank on the Forex, there is both Buying & selling.
There are many factors that determine the
value of a countries currency.What happens
when the NID opens is anyones guess as this is
an unknown.
Iraq has yet to show any signs of security,which is a large factor regarding Foreign Investments
& stability.
There is also the finalization of debt relief to consider , along with the upcoming elections
and all the ethnic-political factions working
together.many factors that will determine the value of the NID
IMO the Nid when it opens will open at or close
to it's present rate: 1460NID/1USD
That being said, then I don't foresee a huge sell-off.
Another thing to consider is that when people sell ,there will be people buying at the same time.
If the NID went to .01 cent(100dinars per 1 USD)
the banks would buy at a rate below that,and resell at a rate above the actual rate.
I think this is a 4-8 year deal IMO,rather than a short term get rich quick.
Bottom Line: the NID is not going to open at some magical rate as many Dinar sellers post on their sites(.33 or $3)Those are just unrealistic
numbers IMO

Hope that helps

Hey everyone,, seems to be much confusion these days about the NID.. Well I worried and worried for several month's just like you guys.. I even considered saleing my dinars at one time... But two months ago, I decided what the hell, I put my dinars in fire proff medal box and put them under my bed and just forgot about them.. And I still buy a few off ebay when i have the money.. I just dont worry anymore.. I know this was the investment of a lifetime when i heard about.. Im just going to sit back and wait to be watching cnn one morning and here that the NID has gone on the market at a record high value.. Then I will tell my wife "honey we dont have to work anymore" Thats just the way Im handeling this thing.. Take care everyone!!!!

I find your knowledge and comments very informative. I, too, belive that the Dinar will open at about 1460 and gradually move up, but I am convinced that there is a great future ahead for Iraq and the Dinar. President Bush is dedicated to insuring the success of Iraq even if it bankrupts the U.S. so the Dinar has to succeed
in order for our mission there to be successful.
I have 23 million and look forward to a magnificant retirement.
BAMA-FAN

I agree with you bobby floyd.... however, i think it will hit the market much higher than your concession

Someone posted this on another website
How would an opening of .31 be realistic
if this was true??

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

If for example,an Iraqi makes $342 USD monthly/500'000 NID
w/ the NID exchange rate @1460
and the Dinar was to go to .31

Wouldn't that mean an increase to $155'000 USD
on that monthly wage,or 453X the present wage ?

or a 10'000 NID note going from 6.84 to $3000 USD

does this sound realistic to you?

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

The only ones that would benefit from an increase
in Iraq would be the individuals that had NID
stashed away before rate appreciation ,and ones who were holding dinar outside country.

i.e., an iraqi making 500'000 or $342 USD
at present rate of 1460/1USD and the rate were to go to .31/1USD
the Iraqi's salary would be adjusted to compensate- he would then get paid 1103 NID
equal to the $342.

Only previous holders of currency, and us
outside the country would benefit!!

What's positive? 1)terror is ending 2)the people desire democracy 3)the world is paying for Iraq to succeed with the sacrifice of blood (war) and money (debt) 4)the reform is uniquely and highly organized through the aid of USA. 5)surrounding countries are now investing in Iraq and its stock market. 6)the IMF has approved 5.5 million for finacial restructuring last week. 7)Oil flow reached pre war volume last July 04 and is forcast to be 3 million barrels per day by the end of 05. 8)New curriency and banking laws 9)The first time ever in the history of our planet when so many have given so much for the recovery and well being of a people who have been devistated by war. 10)Our prayers continue daily for thoes who saccrifice blood and effort for the good people of Iraq. 11)Much more can be listed here...pitty we can't find it on CNN 12)NID will recover its value and soon because Iraqi's want it more than we do. They want the "Green backs" out.

can any one tell me the best place to buy dinar

If you are looking to buy the official New Iraqi Dinar, I can help you. I am an american and ex Marine. I have any denomination and any amount you would like. Please send your request to Reid1p2003@yahoo.com

Mr. P

To All

The Iraqi dinar is way to much of a good thing to pass up. For example: if it goes up to $.01 a $1,000 USD investment would make you $9,000 USD. Personally a country that has over 10 Trillion Dollors USD worth of oil under it's ground and all means of technology and capability with the help of all the countrys that are suporting the country to pump out over 70 Billion Dollors USD per year. I really do not see an increase to a penny wishfull thinking in the slightest. I almost see it as a sure thing.
Now yesterday I was trying to inform one of my friends, that i have not spoken to in a few months, about this wonderfull prospect and the posibility that a $25.00 investment in a 25,000 IQD note could make him $25,000 USD if it did by some chance go to 1 to 1. He tore into me like a banchi on crack. Preaching to me on how it my become the next Mexican Paso. After he sat back and realize that the paso is 11 Pasos to $1.00 he reavaluated his position and realize that this was a great opertunity. So for the cost of a meal and a coctail i would highly sugest to atleast get one 25,000 IQD note.

Thanks
Ian

Hi to all.I have enjoyed reading all of your posts,went back to the begining. I to believe in the future of Iraq. I have heard that Wells Fargo Bank would be the first US bank to exchange the Dinar? Any one else come across this info? Thanks and good luck to all.

Joe,
I concacted my local Wells Fargo and the person on the phone told me that they would be accepting it in a few weeks. I don't know if that's fact or not, that's just what they told me. Any help???

US banks can not exchange(convert) NID
until the time the dinar goes on the Forex market
and is internationally traded and recognized as
such.
At present the NID is at a fixed exchange rate
by the CBI and the only place you can convert to USD is in Iraq.
So any bank telling you they will be accepting
and converting in a couple weeks is without
fact.

Forget about everything, buy some NID's with funds that you may not need for 3 -4 years, and hibernate. Don't spend too much, US $ 1k to 2k is fine, not more.

Remember, there are 6 trillion NIDs, 4 trillion in circulation, so don't be over optimistic, $0.1 would be an ambitious estimate.

Iraq may demonetize it currency soon, probably after the elections.

fellow dinar speculators, hear is the skinny. When the new iraq money finally does become a traded currency, you will not have to worry about where to trade your notes in. There will be many options for you. The first and most liquid will be the private sector of middle men who will be willing to " redeem your notes" for cash or cashiers check at the drop of a dime. Obviously the minimal discount that they will be offering will be peanuts compared to the millions you have just recieved from your investment. These private sector, independent brokers will be your fast and convinient way to transfer your now valuable notes. However, be aware that the rates will be changing rapidly and on a daily basis when this first happens. so be smart and dont be fooled by the sharks who promise to give you cash when they recieve your Dinar notes. These transactions should only be held with your legal representative present and both of you in the same room. Even if you are only cashing in on One Note.

Anyone on this post in Baghdad?

I am having all sorts of trouble faxing to Miss Randda B. Al-Shakir and my emails with attachments are not being acknowleged.

Would someone on the ground there be able to take my word doc file to open the account and fax it to alwarkabank?

Thanks again all:

Darrin H.

Hey Darrin this dan the guy that put the post up on how to open an iraqi bank account with Al-warka investment bank in Baghdad. So I see that you are having a bit of a problem. Remember that when email some thing to warka investment bank it could take up to 3 days for them to send you your personal accounts. I suggest you send your scanned informaiton in pdf form. And by the way if you can not send your information via fax. The reason why this is because most fax machines are not colored they are in black and white. So you can only scan and send your information that you need to give them over the web. Any other questions call the bank or just email me at mcleron5@hotmail.com

I am glad that you addressed your problem because I have been receiving emails from new people that want to open acounts about this emailing problem.

Well anyways good luck to us!!!!!!!!!

Hey Dan why are you so hell bent on getting everyone to open accounts at Warka ? I suspect there is something in it for you. There are risks either way, in opening an account at United, Credit or Al Warka or in keeping high and low denominations stashed away until they can be deposited into an IQD account. I suggest if you are going to give investment advice you put a disclaimer at the bottom of your posts. You are not telling newbies the whole story as far as I'm concerned.

Foreign countries are notorious for assuming ownership of property and bank accounts when leadership changes. I wouldn't drop a dime into an Iraqi bank. Think they have F.D.I.C over there? NO!

As for the doubters out there who believe this is a joke and we will all watch our dinar transform into pretty toilet paper: How long do you think a country with 90% of the region's fresh water supply and biggest part of the worlds oil supply is going to remain impoverished?

This is a war torn country. I speculate the dinar will be restored to pre-war value of .32 to the USD in order to stabilize the economy. I might be wrong, but these people have been getting bread and beans in trade for oil (Food for Oil program)for nearly 13 years and now they will be getting $$$. I'm sure thats going to contribute to the stability and appreciation of the Dinar a hell of a lot more than WonderBread and Cornflakes.

I find it strange that everytime someone has a query or problem contacting Miss shakir, dan magically appears to answer. Having thought about opening an iraqi account myself,I would like to know what actual proof you guys have that you have an actual functioning bank account. For example has anybody done this simple test?
Simply ask for some of your money to be exchanged and sent back to you.

On USA Today currency page- the Iraqi Dinar is tracked daily along with all the other world currencies- with a significant flux

1,436.52 dec 1
1,429.62 dec 6
1,459.90 dec 7
1,470.20 dec 8

yet on earlier posts- its said to be at a fixed rate- that the value cannot change- could someone please explain this moving fixed value? should we be waiting/expecting this number to drop before the money is traded officially?
Thank You

Update? Have heard the the NID'S will open for trading end of Feb or first of Mar/05.Rumor of range of .06-.15 USD. This info came from a high ranking offical of a international US bank.Good luck to all!!!!!!!

On USA Today currency page- the Iraqi Dinar is tracked daily along with all the other world currencies- with a significant flux

1,436.52 dec 1
1,429.62 dec 6
1,459.90 dec 7
1,470.20 dec 8

yet on earlier posts- its said to be at a fixed rate- that the value cannot change- could someone please explain this moving fixed value? should we be waiting/expecting this number to drop before the money is traded officially?
Thank You

Posted by: jm at December 9, 2004 10:53 AM | Permalink

Read the disclaimer/terms of use at any of the sites where you obtained these rates they all (oanda,FX,XE) say:

NO INVESTMENT ADVICE. The information contained on the Web Site has no regard to the specific investment objective, financial situation or particular needs of any specific recipient. OANDA does not endorse or recommend any particular securities, currencies, or other financial products. The content published on the Web Site is solely for informational purposes and is not to be construed as solicitation or any offer to buy or sell any spot currency transactions, financial instruments or other securities. OANDA does not represent or guarantee that any content on the Web Site is accurate, nor that such content is a complete statement or summary of the marketplace. Nothing contained in the Web Site is intended to constitute investment, legal, tax, accounting or other professional advice and you should not rely on the reports, data or other information provided on or accessible through the use of the Web Site for making financial decisions. You should consult with an appropriate professional for specific advice tailored to your situation and/or to verify the accuracy of the information provided herein prior to making any investment decisions.

The NID rate is being held at a fixed exchange rate by the CBI ;

Fixed Exchange Rate A currency regime in which the monetary authorities strive to maintain a stable value for the local currency relative to a foreign currency (usually the currency of that country's main trading partner)The NID is currently at a fixed exchange rate by the CBI with the USD Often the fixed exchange permits flunctuation within a band.

Thank you John.

I apologize in advance for my ignorance on the subject - I'm new to this want to understand the bigger picture-

What does this current swing, after months of almost no change, represent? Today at 1,478.49, its down 48.87 in trade value since Dec.6 ...With all the rush to obtain this money- wouldn't the value be rising? What do you speculate is causing the value to drop? (Could influential people cause it to drop to accommodate certain investors ready to buy?)

Here's a better question-
Is opening a bank account over there necessary, considering that once it starts to trade on the board- it becomes legal tender- which can then be exchanged thru your broker or international bank - or however all the other foreign currencies are traded on the market now?

again JM there is no trade,there is no change
the nid is _no_t being traded on the open international market forex to affect a rate change

it is at a fixed rate by the central bank of Iraq @ 1460, period.

To: Mr. LaRue
I have been watching your comments now on here for some time. I would like to thank you for your input....it is hard hard to tell whether you are borderline cynic or pessimist. These people here are investing their money...in one fashion or another into the Iraqi economy. No...it will not be an over-night wake up and BAM...we're all drinking martinis at the Rainbow Room in NY. It will be a slowly progressive climb. There are too many groups that have their own agenda with Iraq. The only reason that we see America's is that we are accustomed to our own personal favorites for the press and rely on them almost entirely. Iran has it's own politcal agenda with Iraq...the Kurdish people have their own agenda...the US...EU...all of them. But their is one factor that is inevitable. GREED. If is a factor that has been a constant throughout time. Too many people...though many in their own personal ways...want Iraq to succeed. 99% I am willing to bet are to make as much money off of the oil in Iraq as they can. Iran to pay off the debts for the decade of fighting. Kuwait for reparations of the DS1. The GCC..wants to be and is the controlling head of the OPEC groups will secure that with Iraq safely in its folds. Yes the price of oil is volatile..and we curse everytime the price goes up. But one factor will not change. Demand for oil. That is the bank that you asked about. That is why all these nations are "forgiving" billions in war debt. The demand for oil is great. Will be until the last expensive drop is sucked up and we are forced to find a new formidable energy source that the giants of industry can manipulate and control to their benefit because it works for their business plan and will not change it for the next 10 years. Greed. That is why I know that the Iraqi Dinar will rise in value. Go ahead...analyze it some more....derrive your pessimistic outlook. Sounds a lot like the people who said that K-Mart was done. Locals who sounded a lot like you said that their cohorts and other assorted towns people were crazy and unrealistic in in leaving. The crazy people landed at Plymouth Rock. From what I have learned in my travels and life...people who stand behind the others and yell "You are crazy!" or "You're not being realistic!" are just protecting what has worked for them for so long and resent the notion that something beyond their comprehension and beliefs my benefit another. Thank you though for your input. It does prove helpful and insightful at times. You always remind us that we are taking risk in one way or another to help bring the country of Iraq to become and develop it's true identity. Whether or not we came over here under those intentions or not we do not have to answer for....But I have seen the childrens faces when you bring them more school supplies in a single box than what they were allowed for an entire year under Saddam. The people were oppressed. They have no true identity of themselves. FOr the most part...they still don't. We are raising a fledgling. In every sense possible. That means they will grow. So will that bank reserve that you asked about. Time. Patience. These will make us wealthy. The Iraqi Dinar will rise. It has to. The world cannot afford for it not to. Ciao

Mr. LaRue...

One more question for you. Financial professionals are told what to sell, advise and recommend sue to the fact that the firms that they represent have a vested interest in seeing a particular single fund/stock/currency/commodity do well. It is also in the best interest of these "professionals" to steer you to their particular specialty due to the commissions factor. No one in their right mind that works in a US based financial institution will advise you to purchase the Iraqi dinar. Being that the case why do you tell us to seek professional advice and recommendations. I quote: " You should consult with an appropriate professional for specific advice tailored to your situation and/or to verify the accuracy of the information provided herein prior to making any investment decisions." That was supposed to be sound advice. What should have been said was "Trust No One. Research and Make Your Own Investments. At The End Of The Day...You Are Responsible and Liable. Not Them. Ciao

J

John

Mr. Larue...

What are your views in 5 years if the new state of Iraq joins the GCC? They are currently planning a currency change that will be used by all GCC countries based on the Euro model. It is has been stated by the Iraqi goverment that all government subsidies will stop in the next three years. This has to mean that they will be expecting a higher value of the dinar within that amount of time. Your views on this please. Ciao

J

John-
You misread my post regarding investment advise
I was not giving advice to anyone.

I was simply stating that under the 'terms of disclosure' on various currency converter sites they took no responsiblity for the rates being accurate.

I'm still wondering if opening a bank account over there is necessary? When it does start to trade on the open international market- can't it be deposited and traded the same way other foreign currencies are traded on the market now? (How do you put foreign money you have on hand- into the trade market? - I only hear about buy/sell money that's already considered to be in there)
Thank you

I'm still wondering if opening a bank account over there is necessary? When it does start to trade on the open international market- can't it be deposited and traded the same way other foreign currencies are traded on the market now? (How do you put foreign money you have on hand- into the trade market? - I only hear about buy/sell money that's already considered to be in there)
Thank you

Trading on interbank forex market is done electronicaly w/ATS in futures & options
Not quite the same as hard currency in hand
When you take foreign currency to bank they just convert to USD and send to a bank repository that has demand for NID

Hi all,

I'm just getting ready to leave Baghdad with just over a million dinar, and I've heard some strang rumors:

1. You're not allowed to take dinar out of the country. They check for them at the airport. (I'm not too worried about that one.)

2. Even though its only $700 worth, the dinar have to be declared at customs, despite my understanding that only currency in amounts over $10,000 have to be declared.

3. If you don't declare it when you bring it in country, they are going to slap you with a $300,000 fine when you cash in. That one is pretty bizarre but one of the KBR guys said his wife got that from some agency in florida.

Any insight into these possibilities?

Call customs....wait till you get back to Camp Victory Kuwait and ask a customs guy to make sure they will be all over the place...anything over $10K has to be declared. The rest is all hype. enjoy your tour and thanks for serving!

re: customs laws taking foreign currency out of Iraq

http://www.customs.gov/linkhandler/...y_reporting.doc

It's the foreign currency equivalent value in USD is the amount, not the amount of NID/IQD you have....($10'000 USD or more )

So 1Mil NID @ $685 ,then there is no requirement to declare, namely the sum/amount of money is too small in value.

check this out:

The untold story of Iraq's economic revival



The DailyStar - 11/12/2004

By Alan Larson

There is a story about Iraq that has not been told. The latest chapter was written Nov. 21 when the Paris Club creditors agreed to write off 80 percent of Iraq's external official debt owed to its members. As President Bush said, this agreement represents a major international contribution to Iraq's continued political and economic reconstruction. But there is more to say about the economic successes in Iraq - a lot more.

In 1979 Iraq had a per capita living standard on a par with Italy. By the fall of Saddam Hussein's government, Iraq had the GDP of an impoverished developing country and had become the most heavily indebted nation in the world. This grim legacy, compounded by a serious security situation, poses big hurdles to economic development.

Despite these problems, the Iraqis are persevering and succeeding. Iraqi policies made it possible for economic output in the first ten months of 2004 to be 51.7 percent higher than in 2003. Per capita income in 2004 is projected to be $780, up from approximately $500 in 2003.

The Iraqi government has set forth a solid medium-term economic plan. The newly independent Central Bank is keeping inflation in check, with the Consumer Price Index rising only 5.7 percent in the first eight months of 2004 compared with 46 percent in 2003. The new dinar has appreciated 27 percent against the dollar in the past year.

Meanwhile, the Iraqi Oil Ministry is doing an excellent job of restoring production, despite continuing attacks on oil infrastructure. In September 2004, Iraq's crude oil production averaged 2.54 million barrels per day, which equals pre-war levels.

The Iraqi government has been working hard to reintegrate the country into the international economy. Iraq obtained observer status in the World Trade Organization in February 2004, and is taking the first steps toward full membership in the organization.

After months of in-depth negotiations, the Iraqi government signed in September 2004 an agreement with the International Monetary Fund worth $436 million. This agreement - the first interaction between Iraq and the Fund in over 20 years - is a signal that Iraq's economic policy is on the right track.

Iraqi reconstruction has broad-based international support that includes the United Nations, the Group of Eight Developed Nations, and major donor countries who pledged over $14 billion in grants and loans to Iraq in Madrid in October 2003, in addition to the over $18 billion pledged by the United States. This extraordinary level of assistance is an acknowledgment of Iraq's economic potential and recognition of its regional importance.

In September, I led a U.S. delegation to participate in Joint Economic Commission meetings with Iraqi counterparts in Baghdad. I came away from the meetings impressed with the Iraqis' expertise and commitment. The economic progress Iraqis have achieved so far, under very difficult circumstances, testifies to their competence and courage. This holds especially true for the men and women who make up the new Iraqi government, who, at great personal risk, are busy building their vision of a democratic and free Iraq.

Iraq still needs assistance, especially from industrialized nations. Such assistance should include support for security operations, the lynchpin to success in the near, mid- and long term, as well as reconstruction and investment. Help from developed countries would be especially welcome now as the Iraqi government paves the way for the country's first democratic elections on Jan. 30, 2005. As Iraq's Deputy Prime Minister Saleh said at an October donors' meeting in Tokyo, assistance is not charity, but an investment in a better future for a country in a vital region.

Alan Larson is the U.S. Under Secretary of State for Economic, Business and Agricultural Affairs.

Interesting...

http://www.newsmax.com/archives/articles/2004/12/10/92627.shtml

Yes it is Scott. Somewhere down the road i think the world will end up with only three currencies, the Dollar, Euro and the Chinese Yuan.In the future??

Just a little blurb on how things are going over there (macro view):

#construction projects from 230 to over 1000
http://globalsecurity.org/military/library/news/2004/12/mil-041216-dod01.htm
#new airport
http://www.portaliraq.com/shownews.php?id=677
#and, of course, upcoming events
http://www.ameinfo.com/news/Detailed/50699.html

Talked to the Branch Manager at the wells Fargo in my town. He said they had received correspondence regarding the exchanging of the NID earlier this week. He also stated that if you have an account with Wells Fargo the won't charge a conversion fee when you exchange Dinars. And he didn't know when they would begin exchanging it.

Just a note to let everyone know Warka has changed their e-mail address. It is now info@warkainvestmentbank.com this one is for General Info, next is c.accounts@warkainvestmentbank.com that is the new address for opening accounts. Randda said they changed their address because there were so many complaints about having a hotmail and yahoo account for the addresses. This and much more info can be found over at www.investorsiraq.com , and usually Randda can be found in chat at 11:00AM CST Mon, Fri, and Sat. under the screenname WarkaBank. Warka is a real bank I spoke with one contractor in the Green Zone whose firm has purchased several vehicles in country, and used the same process to transfer money to an Iraqi car salesman's Warka account. Oh yeah I have no affiliation with Warka nor do I endorse, just putting out info here!!

Later Ya'll, Josh

I am currently living in kuwait, and have bought 2 million dinar. I am wondering a couple things:

If the dinar went up a bit after the elections and I wanted to cash out just some of it, where would I go here in Kuwait?

also, if it was more than 10 thous USD that I traded in, would these exchange places just hand out that much in cash, would they give a cashiers check? could I get this wired into my bank in the states because you cannot carry more than 10 thou into the states.

Just wondering how this would all work!?

Thanks!

http://news3.xinhuanet.com/english/2004-12/16/content_2340115.htm

One dollar currently buys 1460 Iraqi dinar, but that does not necessarily mean the dinar is cheap.
This article is not going to make me popular in some quarters. It seems that there are some folks selling dinar to the US retail market, though there not as many who are also willing to buy . The sales pitch for dinar often goes like "if each dinar were only worth one cent" ... you would make a killing.
That, alas, is not going to happen. End the war, and Iraq's economy should be bigger than the $20 or $25 billion it is now. So the dinar might (and emphasis should be placed on the might) do something like double in value if (a big if) all goes well in Iraq over some time frame. It also might fall if things go poorly.
But Iraq is going to remain a relatively poor country for some time. The dinar is not going to go up by a factor of ten, let alone the factor of fifteen needed for one dinar to buy one cent. That would be like the euro appreciating so that one euro bought ten dollars, or the yen appreciating so that ten yen bought one dollar. Like Martin Wolf, I think the dollar has further to fall, but even I think that kind of change is just not going to happen.
Make no mistake, the big brokers selling dinar are making a profit no matter what. The central bank was selling dinar this morning for 1460 , so a million dinar cost about $685 in Baghdad. A broker is offering a million dinar for $790 over the internet. Getting the dinar out of Iraq probably takes a bit of effort -- the broker is offering a real service -- but that is still a nice markup ...
Buying dinar is one way of diversifying out of the US dollar, but anyone considering making an interest free loan to the Iraqi government (that's what buying dinars as an investment implies) ought to understand the risks. The dinar is not exactly a candidate to be the world's next reserve currency.
1) If you are buying dinars, you are betting on real appreciation through nominal appreciation of the currency -- that is to say betting that the way the purchasing power of Iraqis will increase is through a rise in the dinar's value. If the currency appreciates in nominal terms from 1460 dinars to the dollar to say 1000 dinars to the dollar, an Iraqi that makes say 10,000 dinar a day would be able to purchase $10 rather than @$7 of the world's goods.
2) You lose if the nominal exchange rate goes down, obviously, for whatever reason -- civil war, lower oil prices, etc. You also lose -- or at least don't win -- if Iraq's dinar stays stable in nominal terms but the currency appreciates in real terms because of inflation in Iraq. In that case, our Iraqi's salary would go up to 15,000 dinar a day rather than 10,000 dinar, but the exchange rate would stay around 1,500 dinar per dollar. The Iraqi could then buy $10 of the world's goods even though the exchange rate stays constant. Iraqi citizens are richer, those holding its currency abroad are not. This is not an entirely unrealistic scenario.
3) Iraq's government has fairly strong incentives to keep the currency stable -- it is one of the few signs of political and economic stability the government can point to. It also has some incentive to resist letting the Iraqi dinar rise in real terms. A stronger currency makes imports cheaper and any Iraqi production (to the extent there is Iraqi production) relatively more expensive. Not exactly the best way to solve Iraq's unemployment problem. The Iraqi government, one presumes, does not want Iraqi wheat production, for example, to be uncompetitive with imported wheat.
4) Oil alone does not make betting on Iraq's currency a slam dunk, to paraphrase George Tenet. With production @ 2.5 mbd (November seems to have been a bit lower) and with oil at $50, Iraq is getting a fairly solid revenue stream -- nearly $2 billion a month -- from its oil right now. Even if the security situation stabilizes and, over time, Iraq can bring more oil production on line, it may do so in a less robust world economy with lower oil prices. So Iraq may make less money from selling a larger amount of oil than it does now ...

Some people think they have made huge gains by betting on the euro over the past few years. It is up 40% or so in dollar terms. That kind of huge gain certainly is possible. But like I said in my post, it is hard for me to see the dinar doing more than doubling (giving iraq a $ GDP of 40-50 billion) even in a good scenario, at least over the next few years. The really huge gains some talk of imply a valuation of Iraq's economy that strikes me an unrealistic. Bottom line: I would think of it as a gamble, but one more more like wagering one to win two than wagering one to win ten.

Brad,

I suggest that you return to your research. It is quite apparent that you have put a very, very limited amount of time into your above post. We are all quite aware of the risks involved in this endeavour. Nobody is in this for the weekend. In fact, most of us are expecting a five to ten year period. But you must be advised. Iraq is holding all the chips...it doesn't matter who says or thinks what. Oil is the bottom line. All the other babble is just that...babble. I invite you to spend some time, say a week or so, researching the topic(s). Then come back and post intellegently.

Brad, You better go back to school and do more research on Economics 101

Brad, You better go back to school and do more research on Economics 101

the person that above article by Brad that that just lifted it from
this site- http://www.roubiniglobal.com/setser/
it is by Brad setser a global economist
with credentials;

Education:
D. Phil., M. Phil., Oxford University; DEA, Institute des Etudes Politiques de Paris; B.A., Harvard University.

http://www.cfr.org/bio.php?id=8937

FYI, Brad Setser did not repost his original material; somebody else did a piss-poor job of copying it, without permission.

Hi folks,

I was trying to allude to the fact that this was not an "original post" when I responded and advised "Brad" to return to research and put in some more effort. Seems to be just another naysayer trying to flex his rather limited intellectual muscle. It sure is nice to see posts that represent some effort though. It really makes the ones like ol' Brad's stand out...ha ha ha.

Hi Scott-

You seem to be knowledgeable about the dinar
Can you tell us from your perspective why that
article is wrong ?
Points 1-4 ?
Also why do you think that we will ever be able to cash our dinars in ?
without the Central Bank "playing dirty"
i.e; demonitizing, or reissue for those only in Iraq

Thanx
Red

Comment to Red's post...

Red,

You ask, "Why does Scott (pretty much all of us) think that we'll ever be able to cash in our NID - without the Central Bank of Iraq playing dirty, i.e. demonitizing the dinar, or reissuing it; and only for those in Iraq."

I'm not as savvy as most on the issue, but it would seem to me (...and, someone please correct me if I'm wrong here...) that there would be too much outside pressure/influence for them to do anything like that.

[That could only be possible if persons unfavorable to the U.S. government were to come into power - and I don't think GWB is going to allow that to happen anytime soon.]

There's still world trade status to consider, along with the confidence of outside investors and their pending contracts with the Iraqi government. This being the case, I believe that they're under the proverbial microscope.

All eyes are on them for them to be as honest and above board as possible in their banking transactions. And, to continue to make "doing business in Iraq" look as attractive as possible to outside investment.

Even with all of the killing and destruction currently taking place in Iraq, companies and foreign governments are still flocking to Iraq to get a piece of the pie. If the CIB suddenly "flips the script" and begins operating like a Mafia money laundering front, then that would certainly undermine the high degree of credibility the bank currently enjoys, which would definitely slow the country's recovery - if not stop it all together.

My optimism regarding the future of the NID comes from looking at all of this from a common sense approach. To be perfectly honest, in all my reading on this subject, I have not heard one crebible argument as to why investing in the NID is less than a 50/50 proposition - at a minimum. (...my own estimates are more like 95/5 for it to appreciate.)

Maybe I'm over-simplifying things more than I should; but, if the powers that be could focus on and resolve the current security issue/s in Iraq (in the short-term, rather than the long-term), then I'm sure Kevin B. would add some sort of celebratory animation to this webpage resembling fireworks and champagne corks flying around, etc., due to the fact that the NID ultimately fulfilled all of the promise, we so adamantly knew it held.

Right now, the lack of security in Iraq is the only impediment to the trade of the NID on open world markets.

Remember, The value of the NID was steadily rising ever since it's inception last Oct. 15, 2003 (1800+ NID:$1.00 USD), but ground to a halt and leveled off to where it currently stands (1460 NID/$1.00 USD) right about the time the contractors were burned and hung from the bridge in Fallujah back in July.

Much of those gains were liked to the pending handover of power to the Iraqi's themselves at the end of June. If not for the escolation of violence since then, and with elections scheduled to be held the end of January, I would estimate the NID would be somewhere around 1000 NID/$1 USD (if not better) today; and continuing to rise.

Even with the escolating violence the NID is still holding strong; and that's certainly a good sign. Under normal circumstances you would expect it to regress (even just a bit) toward it's original issue value of 1800+:$1USD, but resounding confidence in the currency is preventing that from taking place.

So, all things considered, I still believe its a matter of "when", and not "if"; regarding the NID increasing in value. ...And, I honestly can't fathom any good reason for NID investors not being able to redeem their NID for USD/s (when the time comes) - and at a tidy profit.

Just my $.02...

This chat-line is becoming much more intellectual in that we are getting some comments from people who seem to understand international economics. I am a novice but I believe that anything that works locally, works internationally. I firmly agree with Bill on 21Dec04 that Security, Security, and Security is the key to our seccess. All other facets of our endeavors there seem to be on track. When the Dinar opens, I expect a small, immediate gain and a continual gain thereafter. I do believe that we are going to have to suspend the provisions of the Geneva Convention until we get the terrorists under control. They are a cancer on the civilized world and are not entitled to protection under rules of war or under the benevolent feeling that we have for criminals in this country. Thanks for allowing me to voice my controversial opinion.
BAMA FAN

Don't forget, Kuwait's currency was worthless after the war and within a year it rose to 68 cents. Think negative if you want, but Democracy will rule and the dinar will become valuable.

Could someone tell me a website to go to in order to get most current exchange rates of the iraq dinar to the US dollar?
Thanks
DK

Could someone tell me a website to go to in order to get most current exchange rates of the iraq dinar to the US dollar?
Thanks
DK

http://www.cbiraq.org/cbs6.htm

Here is a converter, but there is no conversion re: NID at this time. Keep checking though. It will happen.

http://www.xe.com/ucc/full.shtml

I saw a selection for the Iraqi Dinar there. There is also a negative spin on purchasing Dinars for investment there

This is truely just an opinion with no "facts". It addresses skeptics of Iraq Dinar. 5-10 years, ya right. With Iraq due to have an actual government next month they will have to have a currency to exist. It's that simple... They are not going to be able to fund any type of government with pennies.

Again just an opinion. Pessimist are saying the opening rate will be no different than the current rate. Here is a little math. 1 U.S. = 1460 dinar. 1 barrel of oil around $45 U.S. $45 x 1460 = 65,700 dinars per barrel. Roughly 2 million barrels sold per day. 2 million x 65,700 = 131,400,000,000 Dinars per day. I think 1460 dinar per dollar is EXTREMELY underinflated. My guess on opening day is 1 dinar = .31 cents. Also something else to think about. The dinar is at a locked in rate by the cbi. This rate means Nothing... The dinar is rising in value every day. The cbi rate is not current. It was locked in a long time ago. Before the foreign debt relief. Again just an opinion....

If there is any profit made exchanging the dinar in the future (hopefully near future), will there be any applicable taxes to be paid??

Tom -
yes on Taxes -it's called 'capital gains'

i talked to a foreign money investor and he said he has never had to pay taxes on currency exchanges.he just exchanged alot of euros.i don't know if that is true,but before i go to the i.r.s. and offer them money i will surely check with a tax consultant first.

If you are cashing in 10'000 USD or above
there are taxes ,below from an attorney

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).
Legal Terms - Capital Gains
Capital Gains information: Profit that is realized upon the sale of an asset is called a capital gain. Capital gains are subject to a capital gains tax in most circumstances.

Legal Term Banking Information

Currency Information: Currency is the money that is used and that is accepted in the market, whether it is cash in the form of paper and coin, or chickens, in that currency is what people trade for other goods as a medium of exchange. The U.S. currency is dollars.

Bottom line....there will be a tax on any appreciation in the value of the dinar you possess.

Questions remains on whether it wil be taxed as "ordinary income" or short/long-term "capital gains". Taxing it as Capital Gains, as most know, is very much preferred in comparison to an ordinary income classification.

CHECK THIS OUT!!!!
YOU ARE NOT GOING TO BELEIVE THIS

NEW IRAQI CURRENCY IN FEBUERY 1 2005

http://cbiraq.org/cbs10.htm

The Central Bank Iraq announces issuing coins for circulation as of 2/1/2005 according to the specifications stated below , whish will have the same legal tender mentioned opposite to it :

The front side of the coin : the map of Iraq with two dates Hegira , 1425 and A.d.,2004

The Back side of the coin : contains a circle that has the denomination of the coin inside ( 25 Dinar),(50 Dinar ) , ( 100 Dinar ) , at the top the phrase ( Central Bank of Iraq ) , at the bottom the denomination of the coin written .

Dinar denomination Metal Diameter mlm Weight Gram Shape
100 Nickel plated steel 22 4.3 Circle/Jagged
50 Brass plated steel 20 3.5 Circle/smooth
25 Copper plated steel 17.5 2.5 Circle/smooth

Coins in NID denominations?
of 100,50, & 25 Dinar
It would seem that this would mean the current rate of 1460/1USD is staying at this rate for some time in the future
Why is this good news?
I mean there not going to have 'coins' worth
$30, $15, $7 (higher rate such as 30 cents)

Happy New year to you all,

I love to check in and read about this from time to time. I hope this thing keeps going. It has been my hope during this whole "buy dinar" thing was hot that only those who had the change to spare got into this and didn't sell the farm. No one really knows what the outcome of this risky investment will end at but hey, it's all about the big dream. Keep it going ladies and gents, I enjoy reading all you posts. The well informed ones and the not so well informed.

John, USN, Just spent 7 months in Bahrain (country next to Kuwait) with plenty of Dinar under the matress that was bought at a rate of
2.5 million for 1300 USD.

Thats interesting, you are getting it better than the actual exchange rate set by the Central Bank of Iraq of 1460. Thats the best rate I have heard of so far for buying.

New Iraqi Dinar risks

http://www.xe.com/iqd.htm

Let the buyer beware.

nay say,nay say,nay sayer
some people take delight in gloom and doom.
for instance a friend of mine in the fishing buisness.always went by weather forecast to rule if he went to sea or no,on the other hand i didn't pay attention to the forecast unless there was a major storm or hurricane.once in a while i got caught in bad weather and had to come back ashore,but i was willing to take the risk.I made aLOT OF MONEY IN 38 YEARS ENOUGH TO RETIRE COMFORTABLY,but only because i opted to take risks,my friend died penniless because he didn't take the chances i did.as for the dinars i will not let anyones negative opinion sway me from investing in dinars.for all we know www.xe.com is left wing maniacs who hate everything good abought iraq.and i do imagine that if the dinars do go on the forex you might find out they own more dinars than anyone,good luck all and god bless

Hi everyone, I'm working in Fujairah(UAE) as a teacher. I've been following with interest the fluctuations in the dinar price over the past few months and found most vendors on the internet to be quite expensive. There is a foreign exchange company near me that sells 1 million dinar for 690 dollars and wondering if anyone is interested in buying at this price? Initially, I would ask for 20 dollars on top bringing the total to 710 per million. I am as unsure about the selling process as you are about buying from me but I would be willing to go through ebay to legitimise the process. If you are interested or have any queries or suggestions please email or phone me. You might be better to email me first because I have only one phone line. Okay, best of luck.

Robert
Email :speakenglish@email.it
Phone :00 971 9 222 5905

I notice there quite a few people working for KBR here...I have a job offer from them and would greatly appreciate any advice or thoughts.
plz send me an email
chiefleschi@comcast.net

Just another opinion concerning opening rate of IQD. I've read people saying there is no chance of IQD opening at pre-war levels. You all know this but lets review; prior to the war iqd was worth .31 cents to the dollar. That is an impressive rate considering the billions and billions of debt ( that has since been forgiven ) Saddam had incurred. Also with Iraq having extreme sanctions and an embargo (except for necessities), that lasted over a decade opening rate of the iqd to match or beat preware levels does not sound far fetched...

Myth no fact
There never was a 31 cent,or 0.31 USD to 1 IQD as incorrectly stated by many Iraq dinar sites,this came from reading the peg conversion backwards;

this was the rate 1982-1985

1 USD =0.310900 IQD 1 IQD =3.21648 USD

it was 0.310900% of the IQD @ 3.21648 =1 USD

The official rate of the old Iraq Dinar, $3.22 USD (U.S. Dollars), was set in 1982 by Saddam Hussein.It was a propped up artificial rate that only Saddam, his inner circle & VIP's could get.

The old Iraq Dinar could not be freely traded, so this rate was never tested or upheld on the world market, as there was always a Black Market rate.
The black market rate was volatile and fluctuated between 1500 to 4000 IQD to the dollar in 2001 which represented a significantly lower valuation than the official rate.

Historic Black Market Valuations Iraqi Dinar from 1991
Historical black market valuations shortly after the Gulf War in 1991 when the old Dinar collapsed to 7,000 IQD to the dollar and by 1995 the rate had returned to 3000 IQD. In 1996 just before the United Nation�s implemented the oil-for-food program, the IQD had returned to a level of 2400 IQD to the dollar and 1530 IQD 1997. In December 1999 it stood at 1910 IQD, December 2002 at 2330 IQD and in April 2003 the Dinar fell to 9000IQD to the dollar.

Bottom line is that there was always a black market rate- so the official rates were meaningless

John LaRue, did you invest in dinar? If not, your negativity is not wanted. You've been carrying on like this for a long time.

Willie-
What do find negative about historical fact?
And yes I have invested in the NID
I along with many others hope it will appreciatte in value.

I have contacts with people in the Forex,currency exchanges for my knowledge base.
and many contacts in Iraq that lived thru Saddams 30 year command & control economy that have firsthand knowledge of
Iraqs economy past,present & hopeful future.

I have people in Iraq I talk to on a daily basis;
individuals in; Basra,Mosul,the green zone & the international zone in Baghdad.
People in Kuwait,Jordan & expatriate Iraqi's in UK who work in the Banking world currency markets

So I have and continue to do my research & homework regarding why,when & how the dinar will return to the world markets and be recognized as a hard currency

I am more than happy to answer questions regarding my opinion & views on when this will happen to anyone that wants to hear a realistic and factual representation,based on this research.

If your investing in the dinar, you really need to have your facts straight and not be swayed by misinformation & falsehoods regarding the past rates that are all over these Iraqi Dinar Sales sites,Ebay and such

Iraq's a new country,new economy and we all should forget what has happened in the past in regards to this(rates) and look to the future with optimism.

Best-
John

JohnLarue:

I do very much appreciate your knowledge and willingness to apprise me of factors pertinent to the NID. I have been accumulating the currency for three months now and if there is anything more like a titer totter it�s got to be the NID. At present, the way I see things, the only way for this to go in Iraq is to improve. Do you think there will be a turn around in there thinking in Mosul? I know they are all under a lot of pressure to not vote but Iraq needs there participation.

Responce to usajmg93,

I hear that on the rate, it is good and as real as can be, purchase July 2004. People here in the states are paying way more than the dinar is trading at over in and around Iraq, no matter what you read about set trade prices. The US dollar goes a long way on trading for a price you want in a system that still has bardering as a marketing style. The investers on the net are buying dinar on the cheap cheap, turning around and playing to what we all read on the net and selling it for higher trade sale than they paid but way lower than what the Iraq Bank has put out. Rather than waiting for the dinar to rise, they sell to who can not buy it direct for a very over inflated price to make quick cash now, and sit on there own stash. Either way the investment they have made in IQD is out of the pocket of the average joe who got dinar at over inflated rates. I have my reciepts signed, dated, and a location stamp on them for my exchanges. My American bank brach office in Bahrain, Navy Federal Credit Union stamped to prove my date and trade rate of purchase if needed in the future here in the states by my American bank Navy Federal Credit Union. I figure what the heck maybe 10 or 20 years down the road when I dust off the glass jar, I may have some spare cash to play with.

I am not claiming to be a world money man or money mananger of anything remotely related to that. I just took a chance with some spare change on something that might turn out good. You don't have to believe me or even consider what I said to be truth. I know how it played for me, and my wife. We both have MANY many friends over sea right now and we both know what is the real deal on the ground. That place is a mess, and slowly it's turning, but hopefully things will turn around to the good.

Take care all.

John LaRue,

I'd like your analysis on why the Iraqi Dinar would'nt be worth just as much as the Kuwaiti Dinar say 3 to 5 years down the road? Iraq has a heck of a lot more oil then Kuwait. Iraq has a promising agricultural market. Iraq is the biggest source of "fresh" water in the region. Once security is stabilized would'nt Iraqi Dinar actually be worth more then Kuwaiti Dinar? Say 3-5 years down the road.....

Ian

Hi John, I would like to hear your opinion on the When,Why and how the NID's will return to the world markets. Thanks for your views, Joe

Ian-
Actually there is talk of a unified "Gulf Dinar"
among the 6 GCC countries,(Kuwait being one of the countries) in 2010- So yes that is a strong possibility that the dinar will be on par with Kuwait in the future
http://www.menafn.com/qn_news_story_s.asp?storyid=75098

Ran into this board looking for Dinar info, my husband is a contractor in Iraq and we have invested in the Dinar. I was wondering if anyone knows how the taxation would work on that if you were to take your Dinar and open an account overseas...dont people do that to avoid certain taxes? Im not sure how all that works, but someone did suggest opening one instead of depositing it to my US account....what do you think? I am not looking to "avoid" taxes...just thought it was an interesting point they made. Me? I have no idea about those things..lol

has anyone heard about a dinar counterfiet ring busted in Houston Texas in the last month or so?

The 'Boom Factor'
Drowns Out
Progress in Iraq

By ROBERT D. BLACKWILL
January�5,�2005;�Page�A10

The continuing violence in Iraq, including the recent suicide attack in the mess hall at Mosul, has produced a new wave of gloom regarding the efficacy of U.S. policy toward Iraq and the future of that country. The naysayers are wrong: 2005 will be a good year in Iraq for President Bush. By asserting this I recognize that in most of Washington I am a white rhino on the Savanna, as I reject the views, among others, of the professional pessimists within parts of the U.S. intelligence community.

Having spent several months in Iraq in the past year, I can attest to its complexity. Most analytically important, what are the metrics by which one assesses the course and pace of Iraq's critical trend lines? How do we decide how we are doing? The news programs, with their repetitive pictures of violence and mayhem, deeply mislead in this regard. To paraphrase James Joyce and contrary to the television news readers' mantra (boom, I said boom, I will boom), surely the number of suicide bombings or coalition and Iraqi casualties per week is not the most effective means to gauge progress or failure. How many troops did the U.S. lose in the Battle of the Bulge in 1944-45 or in the Wilderness Campaign in 1864? We are, after all, at war. The enemy is desperate to derail the movement toward a free, stable and peaceful Iraq. The more Iraq makes important steps toward democracy, the more we should expect the bombers to escalate their deadly attacks.

So if the boom factor is not an accurate way to understand the direction of developments, what metrics should we use instead? Here are mine, which indicate fundamental advances for Iraq and for the administration in 2005.
��President Bush will not waver. The U.S. will finish the mission in Iraq. The November election here settled any doubts on that score.
�
��Even if every Sunni Arab of any age joins the fight (which will not happen), the insurgency cannot get larger than about 20% of Iraq's population. The other 80% (Shiites and Kurds) are determined to fight "room to room," as Prime Minister Ayad Allawi puts it, to prevent a Baathist revival. So this will not become a popular national revolt like the Philippines 100 years ago, and most Iraqis will not stay on the fence until the outcome is decided as the South Vietnamese did four decades past. If you doubt this, remember that the insurgents have no positive agenda, the hundreds of thousands of Shiites in mass graves, and the Kurdish victims who were attacked with poison gas by Saddam's regime.
�
��The Iraqi government is steadily increasing the amount of territory it controls. When Prime Minister Allawi and his colleagues acquired sovereignty at the end of last June, large parts of the Shiite south including its large religious centers -- Najaf and Karbala -- were controlled by Moqtada al Sadr and his Mahdi militia. Today, Shiite Iraq is quiet, government police walk the streets of its cities and towns, and the insurgency is dominantly centered on the three Sunni provinces and neighborhoods of Baghdad. And there, too, with the offensive against Samara and Fallujah and parts of North Babil, inroads are being made against the terrorists. Today, most Iraqis are leading more or less normal lives. That number will expand in 2005.
�
��The Jan. 30 elections will take place and there will be an impressive turnout in most of Iraq, urged on by Shiite Grand Ayatollah Sistani and Kurdish leaders Massoud Barzani and Jalal Talabani. Although there likely will be limited Sunni participation, the vote overall will be above the threshold for legitimacy and take Iraqis substantially further toward democracy. Sunnis will get important positions in the new government. The authenticity conferred on the government through this election process and the writing of a permanent constitution will be another crucial blow against the Baathists and Zarqawi. As we see in Afghanistan and Ukraine, political freedom of choice is contagious.
�
��Prime Minister Allawi has a political-economic-military Sunni strategy. This is to separate the hard-core murderers from the Sunni population at large. The Iraqi government already has had some success in Samara and Tel Afar and there will be more to come. Mr. Allawi's message is simple: Join us in building the new Iraq and accept its benefits or, if you support the insurgency, get ready to die.
�
��The Iraqi Army is beginning to fight. Ten battalions of the Iraqi army are now combat-tested, and the number grows every month. They are not the 101st Airborne but Iraqi willingness to fight will steadily expand after the election when the new government takes office. This metric will continue to improve slowly but inexorably.
�
��The overall Iraqi economy is recovering rapidly from its condition just after the war, fueled in large part by U.S. and international reconstruction aid. No longer waiting for Godot, $3.9 billion of U.S. reconstruction assistance has now been disbursed inside Iraq with 1,200 projects underway employing 150,000 Iraqis. This effort is accelerating. Shovels are finally hitting the ground.
�
��International help for Iraq is on the upswing. The Paris Club's decision to dramatically reduce the Iraqi debt and NATO's growing training mission in Iraq are examples. Most of the world's key democracies are determined to work together to make Iraq a success, a supreme example of enlightened self-interest. We should stop talking about more non-U.S. coalition troops on the ground since few Iraqi politicians want to explain to the voters why more foreign troops are arriving in the country. Iraqis want to be protected only by Iraqis as soon as that is feasible. We should applaud that sentiment.
�

Does all this mean Iraq is about to become a cakewalk? Not a chance. The Iraqis and the coalition face a determined foe. There will be terrorist outrages in the weeks ahead and numerous other tactical setbacks. More courageous Americans in Iraq will make the ultimate sacrifice while nobly defending the U.S. and spreading freedom. But time and the most fundamental trends inside and outside Iraq are on President Bush's side. The killers hold a losing hand, aces and eights. So as 2005 begins, prepare for the strategic implications of democratic success in Iraq. It is on its way.

Mr. Blackwill was President Bush's deputy national security adviser for strategic planning and also served as presidential envoy to Iraq. He is now president of Barbour Griffith & Rogers International, a lobbying firm.

Brian,

Outlining the risks of the dinar to inform people is not doom and gloom.

Has any one noticed that on the Central Bank of Iraq they have a place you can check the price and how much was sold. I have noticed that in the past seveal months that they are selling almost twice as many dinar, EXample a couple of months ago the were selling 13 to 15 million and today they are selling around 30 million? I wonder if this means any thing that the request for the dinar has doubled does someone know something

not good if true -revaluation/reissue of dinar?

http://www.fatwallet.com/forums/messageview.php?start=700&catid=52&threadid=270766

What does it mean that Central Bank of Iraq is not showing any Dinar sales since Wednesday (1/5/05)?

My apologies if you have been unable to access this website lately; first our host had unexpected maintenance issues, and then had a Denial of Service attack.

kevin@truckandbarter.com

IS THERE ANYONE OUT THERE WHO KNOWS FOR IF CIB IS GOING TO DEVALUE THE DINAR,OR IS THAT JUST A BUNCH OF BS ?

I am in Iraq right now and can getone l milion Dinnars for $710. Which notes would you suggest getting (250,500,1000,5000,10000)???Thanks a lot for your help

In Iraq, a winter of discontent
Tomato prices triple in the past two months as Baghdad families struggle to find work and keep shops open.

http://www.csmonitor.com/2005/0110/p06s01-woiq.html

TradebankofIraq.com had the NID at 1402 today.

Willie in Reno:

I can't validate that site. Could you share your insights/web URL?

I am in Iraq(GreenZone) -Was at Bank yesterday
Rasheed Bank Baghdad- Al-Rasheed St.near by the CBI
rate is at 1462NID/1USD

Ronnie

Looks as though the chatter at this site has calmed down quite a bit. Possibly due to the fact that we're all beginning to realize that it's going to be a little longer haul than we initially anticipated (or maybe it's just burnout). Which - if true - is really nothing more than a minor setback. I'm on board with the NID (for the long haul, if that's the case), and not about to abandon ship anytime soon.

Just like to thank Kevin B. for running this website, and thanks to all of the contributors that post here too. This where I get 99% of my intel on the NID.

Thanks again, and good luck to all...

I echo the comments of Bill 100%.

Thanks Kevin, Team and all participants!

Captn, here is the url you needed for verification.
http://www.tbiraq.com/menafn_currencies_bl.asp

Some things about the Trade Bank of Iraq rates

The Rate (1402/1USD) needs to be put in context
with the bid/ask or buy/sell these rates always
differ in the market from the actual rate.
It also should be known Trade Bank of Iraq is a commercial bank which transactions are minimum 20-30 mil NID range.

----

Buying Rate - Rate at which the market and a market maker in particular is willing to buy the currency. Sometimes called bid rate.

Selling rate - Rate at which a bank is willing to sell foreign currency. sometimes called the ask rate.

1 US Dollar ( USD ) buy/bid rate 1,402.525

actual rate 1462

1US Dollar (USD) sell/ask rate 1,522.070

$657 sell rate- this is the rate the bank will sell you per million NID @ 1,522,070/1USD

$714 buy rate- this is the going rate the market maker(you)is willing to pay per million NID @1,402.525/1USD

I would venture to guess at this time the market being illiquid for the NID they are attempting to obtain USD

correction and clarification on above;
-The sell rate of $657 USD per Million NID
is the price the bank(TBI) is willing to buy dinar
from you

-The Buy rate of $714 USD per million NID is the rate in which the bank sells to dinar to you

when will us banks start tradeding it

One more time,the last post was in error, I was thinking conversely
here it is one more time;
Trade Bank of Iraq

The average of the spread (bid/1400 and ask/1524 found on Trade Bank) is 1461
CBI is quoting the average price 2922/2 = 1461

bid/buy of 1400.560 is what you sell it back to a market maker for , you meaning another market maker, @ $714 per million NID

sell/Ask of 1524.390
is what you the Market maker buys the NID from the bank for, @ $657 per million NID

basically the TBI is selling NID for $657 per mil

Hi Mr. Larue,I would like to know what your views/thoughts are on the Why,When and How the NID will return to the world markets? Thanks in advance for you info,Joe

When will the NID go on the Forex?though it is a complex situation involving more than a few factors

IMO three factors to watch in the upcoming months

-The Elections going ahead,with some level of success and the many socio-political factions and ethnic religious tapestry deciding to work together,iraq percieved as stable.

-The security situation (insurgency under control)
making it possible for Iraq to conduct business and the economy moves forward,making next point possible;

-Foreign Banks entering Iraq,with ground presence
and the infrastructure up to speed;EFT & ATS enabling trading on an international level possible;(foreign investors,economic upswing)

-The CBI deciding on the Peg for the NID value ,defining such to basket of commodities,or combination of oil and
commodities

Remember, the NID must become a "Hard Currency"
in order to be traded on the world's markets-
and the definition being;
-A Hard currency in which investors have confidence, such as that of an economically and politically stable country.

I wish I had all the answers,I am just observing events as all of us are , and we just don't get enough information to make exact determinations as to when this will happen, or what is going thru members of Finance Ministry or CBI,IMF or the World bank org ,and what their gameplan is?

Hope that helps a little
just my opinion of course

Thanks for the update John.. What a great day it will be when we are blogging on where the best places to trade in our Dinars...

It definately looks to be a little longer haul then I first anticipated.. but I would have a heck of a return if the Dinar just went up to a penny..

Just some more info..

Wells Fargo is up to speed on the Dinar and is able to exchange the Dinar to Dollar..

There is no chance that iraqi dinar will be more than 1461/1 $ because in last 12 mount ago it fixes and there was no any change in market

There is no chance that iraqi dinar will be more than 1461/1 $ because in last 12 mount ago it fixes and there was no any change in market -posted by ah-zaer

That makes sence LOL

Thanks John!!!! I will be watching.

Thanks John!!!! I will be watching also.

Sorry,For the double post. Also, Thanks to all for there insights and posts, Good Luck to all of us!!!!!!!

Hi Guys, i myself invest in Iraqi Dinar as far as i had feedback from my Asia friends many is now buying Dinar and we believe that it would appreciate as currently the black market in Asia is trading at 25000Dinar : 0.01USD in Asia. And also can anyone advise us on how to trade the Dinar in Asia when the forex market? Which bank in Asia can we open account for Dinar when it open?And many Asia is asking whether will Iraqi Central Bank may reissue a New Iraqi Dinar and discard the current New Iraqi Dinar if so than all of the investors who invest in Dinar would all gone down the drain.Thks for the info?

Hi All,
I'm in the UAE. Over the last 3 days the dinar has risen by 30 dollars per million. Legal dealers here have found it harder to get the Dinar out of Iraq. I have yet to find out why? However, I suspect authorities (customs & CBI)have started to crack down on movement of the Dinar.

To John Larue and anyone else who would like to comment. Would it be out of the relm of possibility for the goverment of Iraq as time goes by and progress is made,to have the CBI adjust the current peg down as Benchmarks are made on the road to their future society. For example as the country politically stabilizes, elections happen-constitution done and the economy grows, the insurgency subsides and their infrastructure is built and running.What i see that might happen would be say an adjustment down to 730 to 1 some time at the end of 05. then a drop at the end of 06 to around 200 to 1, with a free and floating NID based on a basket of commodities and oil happening around mid to late 07 starting with an initial rate of 15 to 1. I understand that the country has a lot to accomplish before then but does this sound unreasonable?Thanks for all input, Joe

I WANT EVERYBODY TO LISTEN IT'S ONLY 2 WAYS TO LOOK AT BUYING IRAQI DINAR.

CHOICE #1 YOU ARE THE FOOL WHO DID IT.

CHOICE #2 YOU ARE THE FOOL WHO DIDNOT DO IT.

SO JUST CHOSE THE FOOL YOU WOULD RATHER NOT BE.

SO YES I BROUGHT 1 MILLION AND A HALF FOR MYSELF. THATS THE ONLY WAY I CAN LOOK AT THIS.

Joe: I think your posting is a good estimation of events to happen. However things could go a little faster, judging by the events put in place within the last three months we could see some good value changes within the next six months.

WELL IM A FOOL WHO DID IT TOO. 1.5 MIL HERE TOO AND IM GLAD I DID , IT TAKE RISKS TO GET ANY WHERE.

I am trying to verify what I heard yesterday that the dinar has went to .04 cents but only in Iraq, I dont believe it my self but better safe than sorry

Is that .04 cents or $.04 (4 cents)?

that is $.04 (4 cents) , cant seem to find any thing to cooberate(??) this.

that is $.04 (4 cents) , cant seem to find any thing to cooberate(??) this.

you can't find anything on that because the NID is
still at 1460/1USD
no change
all this misinformation is ridiculous

John Larue check out this story and see what you think,http://www.kuna.net.kw/Home/Story.aspx?Language=en&DSNO=696679&TextData=Iraq"s%20finance%20minister%20estimates%202005%20budget Do you think thay will revalue and reissue thr dinar.

Chad, I looked at that link. To me it looks like a misprint, decimal in wrong place? Could also have been a misprint in translation to english? Or is it a peek at the near future? Will they, the CBI move the decimal point over 3 spots in the near future? Hummmmmm, very interesting anyway.

Hello group of investers in the NID like myself
I believe it is a waiting game at this point
if we just hold out we may be very pleased
this is my first post and have read alot of the
information from past of 1 01 2004

GOOD LUCK TO ALL

HI ALL
This is my first time at this.
Just like the rest of you I am also an owner of
the NID. We all knew going into this it was going
to be a wating game. How long we do not know!
I have a strong thought that it can go nowhere
but up. I sure hope so for all of us.
GOOD LUCK TO ALL
PS I have been reading your comments sence
1 01 2004 THANKS EVERYONE

Hi all I too just came back from Iraq and as well invested in NID. I have enjoyed all the info and comments. I bought into NID after reading Colin Powell's book and he invested into the KD (Kuwait Dinar) during the first Gulf War and when it turned he made big money. Also check out this site (oanda.com) its a currency rate site. On the left hand side go to currency tools and hit FX history and look at the rate over a few years on the NID. The past three years it jumped from where its at now up to 3.48 to the USD. Of course we can only cross our fingers and wait but its a great high to sit and wish.. Good luck all- its the american dream lets keep it alive.

When you hit FX history hit NID on the left then on the right hit USD, and for the date on top mm/dd/yy try from 2003 to present 2005. Good Luck

"Ian-
Actually there is talk of a unified "Gulf Dinar"
among the 6 GCC countries,(Kuwait being one of the countries) in 2010- So yes that is a strong possibility that the dinar will be on par with Kuwait in the future "
http://www.menafn.com/qn_news_story_s.asp?storyid=75098

I have to disagree. I think there will be more of a balance of monetary value if Iraq were to fall under the "Gulf Dinar" Infact I would look more at Saudi in terms of population and GDP than Kuwait.

The 6 gulf states are equally divided economicaly in terms of currency as we see here...

1 US Dollar = 3.75020 Saudi Riyal -current banknotes:1,5,10,20,50,100,500
1 Saudi Riyal (SAR) = 0.26665 US Dollar (USD)

1 US Dollar = 3.64000 Qatari Rial - current banknotes:1,5,10,50,100,500
1 Qatari Rial (QAR) = 0.27473 US Dollar (USD)

1 US Dollar = 3.67450 Utd. Arab Emir. Dirham -current banknotes: 5,10,20,50,100,200,500,1000
1 Utd. Arab Emir. Dirham (AED) = 0.27 215 US Dollar (USD)
____________________________________________

1 US Dollar = 0.37701 Bahraini Dinar -current banknotes:1/2,1,5,10,20
1 Bahraini Dinar (BHD) = 2.65245 US Dollar (USD)

1 US Dollar = 0.38599 Omani Rial -current banknotes: 1,5,10,20,50
1 Omani Rial (OMR) = 2.59074 US Dollar (USD)

1 US Dollar = 0.29353 Kuwaiti Dinar -current banknotes: 1/4,1/2,1,5,10,20
1 Kuwaiti Dinar (KWD) = 3.40681 US Dollar (USD)

So interms of populas and GDP you can see that the smaller countries have more value while the larger ones have less.

Kuwait is about the smallest and has the higest currency value of all. To country as an example would be the result of poor math.

For a better understanding as to why Iraq will be part of the GCC and facts backing that theory up please see
http://www.investorsiraq.com/showthread.php?t=3269

All the best...

Jerry

WAS WONDERING IF THERES ANY PLACE AT ALL TO SELL OUR DINAR IF I GOES UP. HEARD SOME TALK ABOUT WELLS FARGO AND CALLED THEM THEY SAY NO WAY NOT AS OF YET. ARE THERE BANKS IN NEW YORK THAT ARE TRADEING IT ?

JhonLaru:
I esteem your knowledge and responses on the NID subject mater.
It is my understanding the NID value can not move while sanctions against Iraq are still in place. ?? On Jan 23, 2005,in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(b)). declared on January 23, 1995 has been continued for a 1 year period. Singed by Bush Jan 17, 2005. See article. www.whitehouse.gov/ "U.S. Extends Sanctions for Groups Opposing Mideast Pease Process" Your comments please.

chromeman
http://www.whitehouse.gov/news/releases/2005/01/20050118-7.html
this has nothing to do with Iraq or sanctions
more for terrorist enabler countries such as Syria ,Iran
Further
The US & UN lifted sanctions on Iraq in May 2003
The president also signed Preisdential order 13303 making it possible and legal for all US citizens to invest in Iraq

Thanks Red, good news like that will always put a smile on my face. The 28th to 31st now has the attention of the whole planet. Only comperable to last Nov 2nd, 04.

Sorry, The above post is by Chromeman not Red

Found this site on another blogg. Shows positive movement on the dinar about $30.00 per million. Reports are that it has moved twice this week. Hopefully it is a sign of things to come.

Ed

http://www.tbiraq.com/menafn_currencies_bl.asp

Ed, The TBI is a commerical bank. Only very large quantities transfer through it's coffers. However, this movement is a good signe. The TBI is in 14 other counteries and does deffinately pave the way before imports / exports, building a strong base for the opening of smaller banks. My guess is that within 12 to 18 months we will se a bank of Iraq in one of our large cities here in the U.S.A.

HELLO PARTNERS IN THE NID
I HEARD THAT THEY MAY HAVE CAPTURED A LEADER IN THE INSURGENCY SATURDAY 1 22 05 DOES ANYONE KNOW IF THIS IS TRUE. IF IT IS THEN THIS COULD BE A GREAT THING FOR THE IRAQI PEOPLE AND THIER VOTEING PROCESS. I MYSELF WOULD LIKE TO SEE THESE PEOPLE AND OUR BROTHERS AND SISTERS IN ARMS GET THIS GUY AND LET THE IRAQI PEOPLE TAKE THIS JERK AND JUDGE HIM IN THE IRAQI COURT SYSTEM.
GOOD LUCK ALL RON.

Do you really want to know how the war is going?
It is estimated saddam killed on a average 138 people a day. By this fiqure over 50,000.00 iraqis are alive today that would not be alive if we had not gone in.The insurgency has the ability to move openly in only about 18% of the country, and that is shrinking. Otherwords 82% of the country is rebuilding itself, without any significant problems. The insurgency leadership is either being killed or captured, and their local support is shrinking rapidly. More and more of the citizens are giving information to the police and iraqi military. Regardless of what you may believe, The object of war is not to kill soldiers, or destroy villages. It is remove the leaders of the opposing force. Do this and the army will crumble and fall into disarray. By any military standards, our military has done a tremendous job. We took over a country of 20 million and loss just over 500 men. During this process iraqi individuals have died both cilvian and military. But because our military was selective in their targets, and instead used rife shot mentally with selective weapons and not shotgun blast mentally, many lived that in most wars would not have survived. We now have a loss of life of around 1580 men during the entire campaign. Some of that due to accidents. True we have thousands injured, so add that number if you want. How did we do that, our generals knew that combat is expensive in loss of lives and material for both sides. So they simply chose to go around the towns or soldiers that were placed in their way. They avoided the fight, got to their objective, and watched the soldiers disappear that they by passed. The insurgency is now fighting the iraqi soldiers, and police not our soldiers as they once were. The new iraqi government is about to release more soldiers and police in the field, which will reduce the threat of insurgency activity even more. The government is also directly appealing to the insurgency to join in the process of a free society and build something for themselves and their families. When you give them hope and an escape to back away from confrontation, and they see other citizens starting to experience lives better than they have experienced in their lifetime, then you will see the insurgency shrink even more. Some will continually fight to the death... so be it. Either way they will not longer be a threat to society has a whole, and the government will have accomplished another of their goals in bringing peace and consolidation to that region.
When you compare other fiqures for 2004, such as in the US we had 15,400 homicides, over 900 people die of obesity every week, over 100,000.00 died from improperly prescribed drugs, over 150,000 died from drunk drivers, and I could on,with these fiqures but no need. You start to see things as they are, and not what some of the media want you to believe.
I have invested in several million of the dinar. Do I expect it to increase in value over night?
The answer is no. While it would be great, I am also a pragmatic about the investment. There is still a lot of work that needs to be done in iraq.
but when you consider how far they have come in 2 years, I have full confidence they are truly a strong culture and will again become a financial player in the middle east.This should be considered a long term investment by all. I estimate 5 to 10 years, considering the politics, and economic rebuilding needed. But considering the financial reward this is nothing.
It has been my experience that some people want the summer without the heat, some want the ocean without the sound of crashing waves,some think you can have war without the loss of life, some have the fast food mentally in investments. Neither is realistic.
Remember you are investing for yourself. The risk are there, but so is the chance of a financial reward.
I firmly believe this journey will have a successful ending.

Carl,

Outstanding and eloquent assessment!

Ron, You are right on the capture! I heard it on radio Saturday and it was formally announced yesterday. He was supposedly responsible for up to 75% of the car bombings in country over the last 2 years!

When the dinars increase maybe we could deposit our $$$ in this bank. It is legit and pays 15% us $ on a 1 year CD.

Check it out http://www.gunaybank.com/s4.html
Ed

I WAS SO GLAD TO READ THIS GREAT ESSAY OF FACT NOT LIES. I ALSO HAVE INVESTED IN SEVERAL MILLION DINAR AND AM GLAD TO BE A PART IN THIS GREAT VENTURE.I ALSO WISH THEY WOULD FIND THIS CRAZY BIN LADEN THIS WOULD BE ICEING ON THE CAKE MAY GOD BLESS AND KEEP ALL WHO FIGHT FOR A FREE IRAQ. BEST FOR ALL RON.

The dinar just jumped in value today, over 10 percent... :)

Previously traded this month at 1460 per USD, today it dropped to around 1200, according to a legitamate source from downtown, (yet to be personally verified).

Iraq buisness men that I deal with regularly speculate that the dinar will continue to increase substantially until the elections.

Damn it! I just was getting enough cash together for a few more mil... :(

Hey! Sergeant!
I hope you are not buying dinar based on the rate of 1200 per usd. If you are, I would place a good bet the information is coming from the seller.
The facts are the following: The dinar is auctioned everyday at the Central Bank of Iraq. The buy price for the banks have varied for several months. Over the past few months it has moved from 1459 back to 1480. Today, it sold for 1470. Just like any product in auctions, the price does not remain a constant buy. It moves within a stable range. I just listed that range above. Common sense tells you when an election is about to take place everything is in flux. Flux makes people nervous. Even over there. If a bank is nervous they don't pay more for a product. So settle down. Do your homework before ya make any decisions on what to pay for the dinar. Believe the hype on some of those dinar sites, and you are going to pay too much. Read the papers, this gives you the left slant, but some information. Research middle east papers on the net. This will give you the local feeling. Go to the bank of iraq site, and read the actual dinar sale price for the day. Listen to the rumors if you want but verify for accuracy before you make up your mind. This dinar investment is a race not a sprint.

Some Facts about recent price flux

-Border between Iraq/Jordan completely shut down
(elections)nothing in /nothing out same Kuwaiti border

-Ground prices(banks& moneychangers in Baghdad
price 1300/1USD with no supply or small supply of 25K notes

-CBI auctions more or less stopped as of wednesday Jan 26
http://www.cbiraq.org/cbs6b.htm

-nutshell: because of elections there seems to be a temporary supply & demand issue,remains to be seen if this will continue or not after elections

As it is for the present:
Saddam has been gone a little over 2 years. Iraq is still bogged down in certain areas with violence and economic problems. The unemployment rate is still at 70%. To turn this around the new elected Iraq government must encourage local and foreign investment and begin implementing a large privatisation program. Presently this has been stalled because of the threat of insurgency.A majority of the insurgency is funded by Iran and Syria.There are many groups fighting the new government. Some for religious reasons, some for tribal reasons, some for political reasons as they have loss their power and standing, they had under Saddam. It is estimated the police and military will double personnel in 2005. This will solve some of the security problems, but is not expected to solve all of security problems in the year 2005. The issues are too complex, and will take time to accomplish any amount of success with some groups.
Presently Iraq is averaging approx 2 attacks on the oil refineries and pipe lines every day. it is estimated in 2004 they have lost over 8 billion dollars due to these attacks. It is believed that the new iraqi government is going to reverse some decrees related to economic and energy policies setup by the US Forces when they first took over. The reality is some of the decrees show favortism and have hindered in some cases reconstruction.
British Prime Minister Tony Blair has stated that some US and British forces would start handing over large swathes of territory to the Iraqis after the elections. But.... the US is stating they will keep 120,000 troops there through 2006.
So as you can see this first election is just another step toward independence of Iraq. However, this election is more important as a display of the iraqi people coming to together for the first time in their history to cast their vote, and for once have the ability to pick their leaders. Its not perfect by any means, but it is a step toward the establishing of democracy in their country.
What this means for us investors is another baby step forward has been taken toward financial stability and increase valuation of the dinar.
Our own U.S. Constitution and ratification took several years before it was finalized. They are no different in their own struggle.
Carl

Good post Carl, but remember that the Kuwait war brought their currency to worthlessness and in the 1st year it went up to .68. It will not take several years for dinar to move upward. These people have been deprived for a long time and they want the best for their families. Life is so short and they have the goods to be very wealthy.

Some very good posts on the 26th. Thanks to all. I have a question that has been naging for some time now. Maby someone has some input that will give me some rest. It's about hundereds of detainees. Some are very bad and some have probably changed there thinking. What I am so concerned about, is that they may escape again, or be let free by the new government. Then much of the fight starts all over again. What say you?

Reform in action:
When Saddam came to power Iraq GNP was at a peak, and Iraq was a major player in the middle eastern countries economically. By the time he invaded Kuwait, their GNP had dropped over 80%.
After the removal of Saddam, the Iragi people had to remove corruption and centralization thinking within the existing system. In the past year they have been hard at work doing so.
The Iraq treasury has just completed their efforts to finalize their year-end financial statements of Iraq's two largest banks.The Rasheed and Rafidian.
For the first time since Saddam took over,they now meet International accounting standards. Iraq now has 80 banks they allow to send and recieve payment instructions under their new banking system. The currency has appreciated from 2000dinar to the range of 1460 to the USDollar.
The updating of commercial laws for the private sector and foreign investments have been completed, and will assist in expanding larger investments from abroad.
A 5% tariff import just went into effect at the Iraqi ports, adding more funds to the Iraqi treasury.
The model the Iraqi government is using for economic reform,is the one used by the old former Soviet Union and Eastern Europe in the 90's. So this should be a barometer of the recovery time line needed for Iraq, but not necessarily the same time line.
They are rapidly reactivating their food production and markets. They now have 334 hectares in 15 governorates, with 128 farms establishing new plots with more new crop varieties for seeds, and other propergation methods. They are focusing on improving the production of grains, vegetables, fruits, livestock, dairy and poultry. They now have programs on going for the people showing them how to reclaim the soil and make it fertile again. They have now just completed a large rural water management system for irrigation. Loans are now being processed for seeds, and other equipment needed to increase farm production.
Iraq used to have the largest date palm tree orchards in the world with over 30 million trees. Under Saddam this was allowed to fallow. The canals and marshes were drained, families moved, then the iraq and Iran war begin and the date orchards were allowed to just about die out. Under an agreement signed in Feb 2004 with the Ministry of Agriculture, over 40,000 date palm for orchards and offshoot nurseries in 13 governorates have now been purchased and are now being planted.They have for the first time planted over 621 varieties of date palms. They is no other existing orchard in the world that has that many different varies in one part of the country. Their goal is to be the mother orchard of date palms for the middle east, and be listed as a national register of date palm varieties. This will allow them to sale date palm off shoots to all of the middle east. The results of this effort will be seen as little as 3 years.
The revitlizing of their Agriculture is important, as this will keep the young people employed in the rural area. They did not want to soley dependent on Oil as their only import.
They are now set to give small and medium size loans to businesses to provide jobs, and rebuild their private business infrastructure.
And the building of the dinar value continues...

Haven't visited this sight in a few days. Last time I visited there wasn't much to catch-up on, but what a landslide, as of late.

Thanks to all, and especially the well informed contributors. This is all fantastic news - so good in-fact, that I'm actually hovering over my keyboard as I type this.

I always knew in my heart that the rebuilding and imminent prosperity of Iraq was destined to be, and nothing short of a comet colliding with earth could stop it.

Cheers! ...my NID investing brethren!

YES THANKS TO ALL FOR THESE WONDERFULL UPDATES AND COMFORT ABOUT OUR NID.
WE ARE A GROUP OF PEOPLE THAT ARE BLESSED TO SEE ALL THE WONDERFULL CHANGES THE IRAQI PEOPLE ARE GETTING LIVE, AND THE BETTER LIFE FOR THEIR FAMILES.
MARCH ON IRAQ MARCH ON
RON

I don't think that it has sunk in yet that many of us in this chat room will become millionaires in 2005.

Forgive me but:

From your fingertips to "you know who's" ears!

The Birth Of Democracy
We are fortunate to get to observe the labor pains of Iraq's democracy. What you will observe this weekend is just the beginning appearance of a elected democracy.Just like any birth, it will be messy and beautiful all at the same time. I believe some could and would refer to it as a miracle for that part of the world. The rest of the birth process will take at least a year or so, before it is out of the canal. Then you have a period where it has to be watched very carefully for signs of any thing that may cause the new arrival's death. I believe we all know about the elections being held, but do we all know the mechanics of the election and just what is going to be involved throughout this year?
This will be the first free election for the iraqi people since the 1950's. The election will be the first of two. The first will be for 275 seats on the natinal assembly. This assembly will have two roles: First to appoint a transitional government. Second it has to write a permanent consitution. The latter task is the most important as it will decide on the political structure, the role of Islam, how much control the Kurds and other minority groups will have over their own affairs.
The assembly will have to select a president and two vice-presidents. These three individuals will then select a prime minister and nominate a cabinet. Once this is completed, the newly drawn constitution has to be put to a referendum by Oct 15, 2005. The plan is then to hold a second election under the new constitution before Dec 31, 2005.This will replace the initial assembly and Iraq will now have a newly elected assembly, hopefully representing all ethnic citizens of Iraq.
The initial process is complex.For the vote, Iraq is treated as a single constituency. Numerious "Political Entities" put forward a list of candidates. Some have only a few, with some having several hundred. It is estimated there are over 7500 candidates running in the first assembly election.If a political entity gets 20% of the vote that entity would get 55 seats. Most of the entites are based either on tribes of a area, religious groups, or well known personalities. Some of the stongest groups are the Shia United Iraqi List, the Iraqi List, and The Kurdistan Alliance. It is expected in the safer parts of the country there will be a 90% turn out. In the Sunni triangle where the insurgency is the strongest and are trying to instill fear by attacking their own people it is projected around a 30% turnout.At the polling station the groups will be listed on the ballot either by the name of the group, a graphic symbol, a number,or the name of the candidate. Once the voting has taken place, it will be a while before the results is known. These votes have to be counted and then transported to a central voting point for verification. So it will probably be days before we know the results. But this biggest hurdle will be over. The people of Iraq will have experienced the taste of true polical freedom. Once that taste hits the soul, nothing can remove it.
And the building of the dinar value continues..

Willie:
I admire your positive outlook. I truly hope you are right, I would not mine joining the millionaire ranks this year. But it has been my experience, that if you set guidelines or a expected time table on an event or individuals of which you have no control, it is the best way to become dishearted and let down. This is a process of one step forward, one step backward, two steps forward and one step backward. Nothing will happen in the time frame that we expect. But it will happen that I am certain. So, as for myself, I just pour myself a little shot of enthusiam(about a 1/2 glass) every night and sit by the fire. We all who have invested the future of Iraq have given ourselves the best gift of all. The gift of "HOPE". The ingredient that makes life fun. It is the "Hope" that one day whether it be this year or the next, that our intuitive was right. That our common sense and guts to take a chance on a country that was in conflict will bring us some sense of financial security. It is this common "HOPE" that binds all of us investors together, not the dinar.
And the building of the dinar value continues

Carl that was very well put, my thoughts exactly; I hope that the elections go smooth and the Iraqi people realize what thay have thair hands on. you know it took several years of paeceful negotiation and debat for America to come with a constitution that all the people would accept, so this is going to take some time so be patient and enjoy the ride.

CARL THANK YOU FOR THE GREAT ESSAY ON THE FACTS THE IRAQI PEOPLE WILL NOW FACE. THIS IS GOING TO BE A GREAT RIDE FOR ALL OF US. LETS JUST KEEP ALL OUR BROTHERS AND SISTERS IN THOUGHT AS WE PRAY THAT THE LORD WILL KEEP EVERYONE SAFE IN IRAQ OF EVERY NATION AND GOOD WILL COME OF THIS THAT SO MANY HAVE SACRAFICED FOR.
LOL RON

I Have no doubt, there is backing by practically the whole world. Debt is being forgiven, free trade zones established, banking laws, IMF loans today, stock exchange, airports, railways, natural gas pipelines, on and on. I have purchased a considerable amount so even when it pegs a very small amount it will put me in that category. I am so happy for these good people who have been deprived for so long.

Hi all I have a question for you all, my girlfriend just came from Iraq and she was all excited cause she has bought 1 mil NID. She said she paid about $700.00 USD for it. Now educate me on how and why she is soo stoked and convinced she is going to make a bundle in the near or distant future. I mean I'm I to beleive the NID is going to match dollar to Dinar one to one? Thanks you guys very interesting reading very educational. God Bless and good luck..

Hello! Info
You are on the right site. This site will give you more information than most. I suggest you start at the top message and start reading down. By the time you have reached the bottom message, you will have answered your question, and probably gotten more information about iraq than you wanted to know. But then again knowledge is power!!!!!!
And the building of the dinar value continues..

Buying th NID is like many other Get rich quick schemes. My advice to all who have purchased some of these new bills is to give at the *minimum* a five year time horizon. I bought mine, stuck them in a safe place and will proceed with my life. If I have a pleasent suprise in 5 years, great - but i'm not counting on anything. My thinking is that I bought 2000 $1 lottery tickets. If one hits, great - but that's the way I'm seeing the odds. The story is too perfect. It makes too much sense. It's NOT Kuwait. It's *Never* this systomatically simple to make a million dollars. JMHO - good luck all.

Its the Ingredients that determines the taste....

Ingredient: The Fear and Uncertainty
The election has fueled a combination of fear and uncertainties about what kind of Iraq will develop after all of the elections have taken place.
First, we as investors must understand that the Iraqi people have never experienced freedom like this before. It is like having an abusive parent all of your life. That parent has controled every aspect of your life. Telling you what you can and can not do, then that parent is removed. Just because you have been given the freedom, doesn't mean you immediately have the mental state of mind to take advantage of it. They have been conditioned all of these decades to not govern themselves.( We see this here in abused wife's and abused children) Take that state of mind of being told what to do, along with a high illiteracy rate in certain cities, religious cultures, tribal customs, ethnic beliefs, distrust of each other and you have a complex melting pot. It is not realistic to even remotely think "just an election" will resolve and disolve all of this in just a few months or even a year or two.
You have the fear of whether the country because of its diversity can remain as one.Will it have to be divided into three sections to prevent Civil War? A Kurdish state in the North, A Sunni State in the middle, and a Shiite one to the South. How will the shiites rule Iraq? How will the ruling party relate to Iran who are also shiites ? Will the Iraq Shiites join their Irianian shiite brothers and the end result be a Shiite Islamic republic?, How will the ruling Shiite party relate to its neighboring countries who are under the control of Sunni leaderships? Will this election produce a stable form of democracy, or a new hotbed of expanded terrorism and trouble in the "Heart of Persia"? Will allowing elections in Iraq cause a firestorm in other neighboring countries such as Eqypt, Saudi Arabia, etc to spread and cause unrest within the existing ruling powers? Arab Leaders in Saudi Arabia,Kuwait,Bahrain,Yemen, Syria, Jordan, and Eygpt are keeping a close eye on Shiite minorities in their countries. They fear this new found election freedom will embold a greater demand for government involvement, in their own Sunni-dominated governments, and even some autonomy. (This has already started in Eqypt this week)What role will the country's leading religious leaders play in government?, Should Iraq be governed Iranian-style? Should religious leaders be given authority equal to the governmental leaders? Should the laws and constitution correspond to the koran and teachings of Islam? Should the Koran and Islamic teachings be left out entirely of the consitution? (We know of all indications the shiite politicians will be under pressure from devout voters to enforce some of the religious laws and tenets. We are starting to see in some areas of the local governments under the control of the shiites, that they have added traditional islamic rules to secular laws governing public conduct.) Some of these moves have alienated the Kurdish and Sunni citizens of those cities, and could be the match that ignites civil war, if not handled with care by the authorities. More than anything the neighboring countries are afraid of a Civil War. A Civil war could drag other countries in such as Syria, Iran, and Jordan, Saudi Arabia, Kuwait, etc; Experts agree that a civil war is far from inevitable if earlier mistakes are noted and corrected. That given time, it is believed that the Sunni's fear of being excluded from the government will subside and the they will start to participate in larger numbers.

Ingredient: Sunni Muslims
For most of the past century 20%of the Iraq population, the Sunni Muslims ruled and dominated 80% of the Shite Muslims, the kurds, and Turkmens with extreme brutality.(This within itself should give indication of whether that 80% has the backbone to stay the course of democracy. Lets all hope so) The main fault line is between the Sunni who consider the Shiites "apostates" for their religious beliefs.Another contention is the Shiites and Kurds live in oil rich areas, the sunni don't.

Ingredient: Shiite Muslims
They are almost certain to bring Iraq's Shiite majority to power.Many of the Shiite candidates have strong relationship with the Iranian Islamic Republic where they had to spend two decades in exile from saddam. However, eventhou Iranian and Iraqi Shiites have strong religious ties, they are different ethnically. The Iraqi Shiites are Arabs. The Iranians are Persians.Many Iragi families converted to the Shiite sect 200 years ago, and remain strongly rooted in tribal social values and culture. Persians by comparison adopted the faith 5 centuries ago. the Iraqi Shiites prefer a more tribal-oriented consensus of their reliqious leaders, rather than a supreme religious leader as embraced by the Iranians, whose history is packed with Kingdoms, and Empires. American officials believe there is a strong indication from the candidates they tend to stay away from Iran's fundamentalist from of government. They realize that without the support of america with food, fuel, water, jobs and electricity for its constituents it would be almost impossible to continue their reconstruction at the pace it is growing. It is believed they are not willing to take a chance on kicking the uncle that has brought them freedom. While there will be a difference in their constitution from the United States, it is believed the end result will be a fair one, that will unite the entire country.

Ingredient: Insurgency
They is now estimated to be over 40,000 insurgents roaming the Sunni Triangle. In the Triangle they have the support of most of the population. After all, this was the home and strong hold of Saddam.
Their Strategy seems simple enough; Hang on until the Americans eventully tire of the war of attrition. They have taken the play book from Vietnam. They utilized the media to their advantage, and do their best to inflame US Politicians, and US Citizens by creating deaths that appear senseless. They know that by doing this, they may be able to force the Americans out under the weight of public opinion at home. ( A good example is of Senator Ted Kennedy and his most recent statements,toward our military and President Bush. He is doing exactly what the insurgency expected him to do. Create discontent, and also give encouragement to the young insurgents who were starting to waiver in their believe about the cause.) It is recognized that a series of mistakes have allowed the insurgency to go far beyond the Baathist roots and spread throughout the Sunni Community at large. The Insurgency encompasses a myriad number of organizations with a variety of ideological backgrounds. The Insurgents have become increasely bold and show a remarkable record of success. Though the Baathists remain at the core of the revolt, there is a prominent Islamic nationalist element mingling with the Iraq's former rulers and killers. But most agree the ex-party loyalists remain a major driving force. They raided banks before the coalition got control, so have plenty of wealth. They have a large supply of weapons and other resources that were removed before the weapon warehouses could be secured. With only 150,000 troops on the ground, and limited amount of soldiers and police for now, fighters from adjoining countries have very little problems of slipping in. They are then augmented by young fighters from the Sunni Arab tribes, some foreign and domestic Islamist extremist, criminal gangs, and just plain disgruntled Iraqis who are want to go back to a sense of security they perceived they had under Saddam. Looking for just one mastermind is to misunderstand the loose nature of the insurgent struture, based on a common aim rather than organization. They do not appear to have a single goal, other than to get rid of the Coalition. If the coalition was not in the country they would be turning on each other like a pack of wild dogs.
They do not appear to have any political programme at all. They simply want the Americans to leave. Once this is done, they want to stop the economic growth, as it brings in the infidels.They are doing their best to create a civil war between the Sunni's and Shiite's. One of the major problems is a lot of the new leaders are unknown even among their organizations fighters. They operate on a need to know bases. This is why it is difficult to get into the interworkings of the insurgency.
One of the major mistakes the American troops made was the indifference to the Iraqi religious traditions. This created such dislike even among the shiites, that the good the coalition was trying to do, was overshadowed by our ignorance of their customs and culture. The goodwill of the middle Iraqs middle class was lost when the soldiers pulled out and left them to the rampant lawlessness that occured in their communities.
The one thing that remains constant is the people. Win the support of the communities leaders and the insurgency will start to disolve.

Ingredent: Future Actions
(1)The USAID and Iraqi governments has got to gain the trust of the people. They will have to do this by providing more police and soldiers to control crime and the insurgents in smaller neighborhoods. (2)They must give the citizens more control over their own security, just like a neighborhood watch would be set up in an american neighborhood. (3)The infrastructure while improved, is still along way from being totally efficient for communities. Only 3 billion of the 18 billion allocated has been spent on the infrastructure. This is mainly due to first having to rebuilt power plants, water plants, shipping berths, financial networks, banking laws, commercial laws, etc before the actual ground work could move forward. A lot of this has now been accomplished. The Iraqi's will see a tremendious surge in reconstruction now that the infrastructure has been somewhat built.(4)The new government has to dispel any doubts about the elections legitimacy.(5) They must include the Sunni population and leaders in forming the new constitution.(6)They must allow the Sunni population a larger base of support with local representation, and allow them to move within their own population centres freely.(7) Illiteracy
runs very high in the Sunni areas. It is imperative the education levels be accelarated in these areas. Most of the areas are rural, and the population has relied on strong tribal support, not education. When the British created Iraq into one country after world war one, drawing borders that forced diverse ethnic and sectarian groups to co-exist within the same country, they created a situation that is unique and highly complex.The history of this country has been a chronicle of one dictator after another governing on the basis of tribal, ethnic and religious ties. Saddam was no exception. He was the norm for that area. Does this mean Iraq can't sustain democracy? "no! it doesn't" If the government utilizes the peoples love for Iraq, and carefully developes, a close alignment of leaders representing all ethinic and religious identities, they will have a powerful base for a stong government that can co exist with each other. Iraq is not the balkins, and its Sunni, Turkish and Shia populations are not geographically separate as it seems. Though the Shia dominate the South, the Sunni's the middle and the Turks the north, most of the larger cities are ethnically mixed just as any major city. Baghdad most of all. There is also wide spread intermarriage about the people,and years of friend ships among the ethnic communities. This is the glue. This is what will bring Iraq together for the first time as one country under one freely elected government.
Will it happen? As an investor , I believe it will. As soon as the final elections are over in Dec 2005, I believe we will start to see a withdrawal of troops on a gradual scale. This will give the Iraq government a strong international presence of being on its own,both politically and militarly.
And the building of the Dinar Value Continues...

Gentelman let me if you will give you a little history lesson, In 1776 the thirteen colonies declaired thair independance from England and began the long and costly battle to achive it; on tha morning of October 19, 1781 General Cornwallis surrendered to the Americans and ended the war that cost so many lives, and it took from 1781 to 1787 to come up with a document that all of the delegates would sign. So as we sit back and watch (and help) as this country struggles to gain its independance lets not forget that it takes time and work to accomplish great things, this will happen in do time, what an exciting thing to see this may be the thing that brings all the gulf countries together. Be patient and it will come

Positive chatter on Fox News this morning.. Hopefully if all goes well with the elections.. Democracy should bring some great changes to Iraq.. Talk of oil dropping to the .40 cent/barrell range and possibly lower.. Everything takes time..

I started investing in the Dinar almost a year ago.. and It's looking more and more promising as each day goes by..

IT'S A " G R E A T D A Y " FOR THE PEOPLE OF IRAQ AND A FANTASTIC DAY FOR THE INVESTORS WHO BELIEVE IN THE IRAQI PEOPLE. THE BIRTH OF DEMOCRACY IS ALIVE AND WELL, WITH NO SIGN OF ABATEMENT...
And the building of the Dinar value continues

BLACK GOLD AND PLENTY OF IT...
Iraq is estimated to hold 115 billion barrels of proven oil reserves.They are the third largest in the world behind Saudi Arabia and Canada.This is with only 10% of the oil fields explored. It is estimated that they have another 145 billion gallons of oil not yet tapped in the Western Desert Region. In August of 2004 the Oil Minster Ghadban stated that it has been determine by geological surveys that Iraq may have a potential reserve of 214 billion barrels that have not been touched. This does not include the natural gas fields.
This is the best information I could obtain and is current up to Nov 2004. So you can assume that if there are any changes it is for the better.
Iraq was granted observer status at the World Trade Organization and in Sept 2004, Iraq submitted a formal request for membership. The World trade Organization stated, that assistance from the WTO would come after a "written constitution and an elected government", was implimented.
The Oil reserves vary in quality. It varies from API gravities in the Heavy to Medium-light range. The country's two largest active fields are Rumaila and Kirkuk. The Rumaila field extends a short distance into Kuwaiti Territory. It has 660 wells and produces streams of normal to heavy API gravity. Kirkuk as a estimated 8.7 billion barrels of remaining reserves producing sulfur crude. This field is presently being tested for its quality, as there is fear it may have been damaged seriously and even permanently because of the methods used to extract the oil under saddam. If this is the case, it will make it more difficult and expensive to refine the oil, and may be cost prohibitive under the present price structure of oil per barrel. However, there are other oil fields in northern Irag, Bai Hassan, Jambur, Khabbaz, Ajil and Oin Zalah-Butmah-Safaia. You have another oil field in the East, called the East Bagdad Field.
The production cost to extract Iraq's oil is one of the lowest in the world. Presently Iraq only has 17 fields operating of the 80 oil fields that are already known. This does not include the oil regions yet to be explored. As of Nov 2004, Iraq has 2,300 wells drilled, with 1600 actually producing. (Compare this to texas with 1 million wells) Until USAID in 2004, Iraq did not have access to the latest, state of the art oil industry technology. Sufficient parts or investment funds. They were using sub standard engineering techniques, obsolete technology and refineries were in various stages of being inoperable. This has now changed, as the Iragi Oil personnel are now being trained in the new technologies of oil extraction, and have increased their production significantly in the past months utilizing this training. The oil production at the present time is around 2 million barrels a day. Eventhou, Iraq is a member of OPEC, the organization has not curtailed Iraq production, realizing they need the funds for reconstruction. Iraq's production quota is 4 million barrels a day, however, the oil minister has stated, this may not be achieved until the year 2009. Presently the oil pipelines that run through Saudi Arabia and Syria are shutdown. These lines are in the process of being repaired, new pumping stations built, and additional lines added through Syria and Turkey. When this is completed the export capacity for Iraq should be around 6 million barrels a day. The oil pipeline system varies from 40 to 46 inch pipe and stretches over 4,350 miles. Iraq has now stationed over 14,000 Iraqi Nationals as guards along the system. This has resulted in a significant reduction of pipeline attacks.
They are doing repairs to the mosul pipeline because of it being in bad condition from age and lack of parts to keep it operating. No date has been set for its reopening.
In August 2004,the iraqi oil minister and Iranian Oil minister met and have reached an agreement for a framework of crude oil swap and transit agreement to each others territories.
All sales are presently being handled by SOMO. A oil supply contract was recently signed with Turkey which is suppose to start in Dec 2004.
The Iraqi government has now announce that any new oil agreements with foreign companies will have to include oil production expense sharing contracts. Russia has announced that it will begin oil production in the West Qura in 2005. (This may happen or may not, depending on the security situation) Additional contracts have now been signed with Russian companies to develope the Rafidain fields, the western desert's block 4, and block 9.
Iraq has three tanker terminals. Basra, Khor al-Amaya and Khor az-Zubair, with Basra being the largest. It is capable of handling very large crude carriers. Any damage from the war have now been repaired and is fully operational. In Oct 2004 the records show, it was handling 1.6 million of crude a day.
The ports in the beginning of 2004 were stopped repeatedly because of power shortages,and insufficent crude oil supplies. However these problems for the ports have been solved and no longer are a major hinderance. This is not to say that they still not have major power problems. Presently, the iraq government is still having to import diesel, liquid petroleum, and gasoline from neighboring Iran, Jordan , syria, Turkey and Kuwait.

Natural Gas

Iraq has 110 trillion cubic feet of known natural gas reserves, with a estimated 150 Trillion yet to be tapped in their gas fields. Most of the gas fields are in Kirkuk, Ain Zalah, Butma and Bai Hassan in northern Iraq. Iraq currently has a major natural gas pipeline with the capacity of around 240 million cubic feet a day. Iraq signed an agreement in Sept 2004, to join the Arab Natural Gas pipeline linking Egypt, Jordan, Syria and Lebanon.

Electricity

As of today the demand for power in Iraq is 7500 megwatts a day. They are presently able to produce 5,000 megawats. The result is there is still rationing with perhaps about 10 hours a day in power. The power plants were projected to hit 9,000 megawats in Feb or March of 2005. However, due to the security situation, and attacks on some power grids, it does not appear this goal will be met. They are continuing to experience fuel shortages for the plants, along with some of the workers refusing to come back to work because of death threats. There is on the drawing board in the Iraq Electricity Ministers office over 200 projects slated to get started once the security situation is under control. They want some of these to be completed by 2006. The demand for power has increased as the iraqi people have now bought, and are now buying air conditioners, more tv's, radios, and other electrical appliances at a record pace. Deals have now been reached with Syria, and Turkey to provide a increase in power for areas of Iraq.

Summary

As you can see things are improving in Iraq, but a lot of work is still to be done. Note, that most of the infrastructure will not be totally completed until around 2006. One of the factors that affect the dinar is the ability of the Iraqi government to trade with other countries, build a good small and medium business structure within the country, etc; They will not be able to meet the full demand of trade until these infrastructurs are completed. This should give us investors a time line of dinar valuation.
And the building of the "Dinar Value" continues

do you think that the dinar will rise after the election? will it go up right after the election or will it take years? thanks luv....

did any see peter jennings report on dinar being valued at $.04 to a dinar? pls confirm report or rummer. thanks ib

I own iraqi dinar. You guys may be interested or may not but there's a decent editorial on this web site about the dinar. www.crowfootnews.com

hey! Luv!!
Who in the heck knows. As an investor, I would like to say it will increase immediately. But realistically I don't see that. It may increase in value some due to the excitement of the moment, but I really don't see it making any large move until Iraq's infrastructure improves more, and Iraq is accepted by the WTO as a member. I also believe the Dinar will have to be a free floating currency on the forex exhange, subject to market pressures and changes of the mideast.
This will not be until 2006. But I do believe a tremendous psychological barrier has been over come. Giving the Iraqi people a new sense of respect for themselves and confidence that the new government is well on its way to becoming a stable government.
The Dinar will increase in value, that I am certain. The time frame is anybody's guess.
And the building of the "Dinar Value" continues

Hey! IBoca!
I did some research on Peter Jennings and quotes about the dinar for ya. Could not find anything about .04. If you have more details let me know, such as; date of supposed quote.
It is probably someones wishful thinking and dreams of a bank account swelling with green..nice thoughts but I don't believe just yet.....

Correction on last blog.. should be dollars not cents... geeze.. brain fart on that..

Anyway.. congrats to the people of Iraq.. It really made me feel good to see them vote.. and made my time fighting over there well worth it!

Keep the faith.. I'm sure the Dinar will start to move soon..

Announcement:
The Iraqi government has set a time table projection of having most of the outside arm forces leave in 18 months. They believe at that time, there will be enough trained police and military to keep their own security. This will be around June -July 2006.This will also be when the majority of Irag's infrastructure, such as Electricity, water and Fuel will be completed. This is also when the WTO stated they would consider them as a permanent member, this is also when it is expected, that the forex exchange (network of banks who sale their currency electronically ) will probably accept the iraq's Central Bank into the network to trade the dinar with their currency. Presently there are over 4.63 trillion dinar now in circulation, and rapidly growing in number. The Iraq government wanted to keep the dinar in Iraq only for now, but have found that impossible to do. They have acknowledged this, as a problem, but a positive problem, in that so many banks and other parts of the world believe in their success. 2006
2006 keeps showing up as the magic number. This should give us a indication of at least a major increase in the dinar value. This valuation expectation is backed up by information, not rumor, hype or the old I wish it would hurry up and do something syndrome.
I am doing research on the forex exchange. As this is where the dinar value will play out its value. In the future, I will do my best to explain just what is the forex exchange, who trades on it, how does it work, what signs show indication of currency value change,etc.. of course this will be as I understand it...so as a word of caution to all of you guys..I ain't the brightest light bulb in the building.
and the building of the "dinar Value" continues.... " Remember knowledge is power "

THE DINAR REMAINED STABLE AT THE CENTRAL BANK'S AUCTION THIS AM. IT SOLD FOR 1462DINAR/1USD. YOU CAN TRACK THE DINAR VALUE EVERY MORNING BY GOING TO XE.COM.

Carl
The Central Bank has not had auctions since Jan 27th
The XE.com site is not accurate

Trade Bank of Iraq
http://www.tbiraq.com/menafn_currencies_bl.asp
Buy 1,400.560 sell 1,524.390
Oanda.com
http://www.oanda.com/

are more reflective of the true market rate at present,the 1400/1USD of Trade Bank is current with the ground retail rate in-country in baghdad
at the merchant markets

Carl you are right on in your posts about the infrastructure
most noted in respect to the Banking EFT & ATS

This is a key factor to watch in the coming months

1)The security & stability has to get to the point where Foreign banks can & are willing to enter in-country and establish 'conduits' to the International world banks as HSBC & Standard Charter bank ,NBK etc

2) The Banking Infrastructure in Iraq at present is in a primitive state(think 1965)based on cash
only and notes of credit
The EFT (electronic Fund transfer)systems need to be in place for Iraq to handle & conduct foreign exchange transactions on a global International level

I would think this is a high priority for all involved (US & Iraq) but then again it is all
dependent on getting the security of Iraq at a point where companies(banks & others) are confident that employees & workers will be safe
in-country

Hey!John!
Thanks for the input. Where does xe.com get their information or numbers, as they show 1-31-05 as the sale date and the dinar price. It is different from the 28 thru 31. Why would they be making this stuff up? I went to the site you listed bank of irag and was unable to pull any information up.
It looks like you and I both have the same type of thinking regarding the dinar valuation. I thought maybe I was being too cautious in my expectation regarding the time and things that would have to happen in order for the dinar to start showing a significant increase in value.

Carl
Re: XE.com I do not know where they get there info
I do know that it is less than reliable for accuracy
since the NID is not on Forex where do any of these sites get there info and what is it based on?

I will tell you that Oanda.com & Trade bank of Iraq are generally in sync with buy & sell in Iraq and MENAFN so that is where I get my data

http://www.tbiraq.com/menafn_currencies_bl.asp

try the site again it works fine for me

John:
Thanks for the reply. I will put them on my list of sites that use for research.

CARL AND JOHN
THANKS TO THE BOTH OF YOU FOR ALL THIS GREAT INFORMATION THAT YOU ARE SHAREING. AS YOU CAN SEE I AM FROM THE OLD SCHOOL AND DO NOT KNOW HOW TO DO MUCH INVESTIGATING ON THE NID BUT AM ALSO AN INVESTER. PLEASE KEEP UP THE GOOD WORK.
LOL RON

I AM JUST LEARNING HOW TO USE A COMPUTER AND I TYPE WITH ONE FINGER. IHAVE TO SEARCH FOR EVERYTHING.
LOTS OF LUCK RON

Hey! Ron!
Glad to be of help. I do my best to take all of the information I research and try to put it out there in a way that it makes sense to us investors. The dinar does not set in a vacuum. Every event, every project, every person attempting to either assist the government or hinder the progress of iraq effects the dinar in some way. All pieces appear to be individual and separate but in reality they are all part of the whole. I firmly believe that knowledge is power, and more we can learn about the who, what, when, where and the why's of Iraq, allows us to make wiser decisions, and gives indications when the dinar may start to move in value.

Did anyone see that the CBI website has completly quit selling dinar and are now in the process of buying other currencies from other countries.

Let it grow..let it Grow..Let it grow
This article will be talking about Iraq's agriculture and the work on the marshlands. Agriculture is a very critical, and necessary part of recovery for iraq. Just as the oil industry, it has a tremendous protential for economic growth,and will provide more to the GDP than oil. Once thriving the industry will create employment for thousands of iraqi's for generations to come. Saddam spent very little funds on keeping this industry functioning adequately. The irrigation system was and continues to be dilapidated in large areas of Iraq. They have inadequate or none existent grain silo's throughout the country, with price structures totally distorted in moving the food production to market. There is a lack of maintenance or no parts at all to fix farm machinery, so there is not a constant level of food production reaching the urban areas.(example: They presently have a shortage of tomatoes, driving the price for the item beyond most of the iraq's income)
A lot of work in the beginning of the reconstruction was directed 100% at urban areas and high population areas where the aid and infrastructure building was most needed. The agriculature areas are mostly rural, and less populated. A tremendous amount of the regions have not seen $1.00 of aid as of December 2004.(This is where you get the news reporter filming the iraq's stating they are not getting any help, and it was better under saddam) This is not to say USAID or the new government did not recognize the need, they just had to many problems in the urban areas to even start reconstruction in rural regions.
The public distribution system feeds only about 60 percent of the iraq population, with the government spending about $300 million a a month on importing food commodities. One of the major problem is that Iraq's wheat quality is not good.The Iraqi bakeries will not use it, and perfer to use American and Australian wheat for their industry. Can the wheat production and quality be brought up to standards in Iraq? The answer is yes. Iraq throughtout history was considered the cradle of civilization. They have for centuries had irrigation systems to water their crops, with a high production rate. While this is a plus, it also carries with it some constraints, such as: Water Logging of the land, that results in high salinity. High salinity crops are very low yield crops.Presently over 75% in the South is affected by this problem. In order to get some immediate results, they are looking at crops that are salt tolerate, and ways to improve drainage. Projected crops for the North are barley and wheat,In the South they are now planting rice, corn sorghum and other products of this type. Date palms will play a tremendous role throughout Iraq.One of the major things they have keyed on is the type of products needed in the hotel, and tourist industry not only in iraq but the surrounding countries. They are now looking at what type of flowers are needed in the international market, where to best grow them, what is the price structure vs cost to grow, etc;
Presently they have a water sharing problem.There is a major problem of not having enough water in the Tiqris and the Euphrate's regions for high yeild farming.Water agreements are now being signed and allocated with Iraq's adjoining neighbors. The question is what amount of water do you allocate to agriculture use, industrial use and drinking water. Land holdings are another problem. Most of the land under Saddam was state controled. The land was leased to the Sunni's or large farmers who supported Saddam. This left the small farmer, and ethnic groups such as shiite, and turks out of the loop. This land is now being released or sold to private individuals,with a equal mixture of all ethnic cultures. They are having to divise a land market value, structure a tenure program for the lease land and create security in these rural areas to protect the farm production and transportation of goods once it is up and operating efficiently. Most of the crops in the Northern part of Iraq are rain fed, in the middle and South they have to depend more on irrigation.
When you get out beyond the urban areas, the road infrastructure is poor to totally none existent. So roads have to be repaired and built in order to adequately transport the produce from the breadbasket area to the market. There are no telecommunication lines,limited power grids,no internet to distribute information to the farmers on new techniques, no central staging point for a education center to gather the farmers in one location for training, and on top of that how do you convince the farmers to now work together which for years because of cultural differences have had to protect themselves from each other.(now you start to see the scope of the problem. Not only does the iraqi government have to improve the agriculture system, they have to reverse the "Prejudice mind set" of the rural population, that has existed for years.This will take years for those areas to change. Usually it starts when the older generation starts to die out and the children who are void of these prejudice feelings become adults themselves, and have more children that are brought up with a more tolerate way of thinking)
There are a lot of dairy herds throughout Iraq, with large herds of water buffalo in the South.
In Nov 2004 several programs were under way in poultry revitalization, increasing the animal health network, rebuilding silo's, building vegetable farms and reclaiming land from the salty water when the agriculture part of the grants ran out of money. Somehow, the agriculture part of funding got crossed out in the Iraq ministry, and the USAID team had to resubmit their programs in order to get additional funding. Presently, the funding is back on track, with new sheep dipping bends now being build to improve the quality of the wool for international markets, 344 hectors of salt tolerant wheat varieties are in the process of being produced on individual demonstration farms. The Agriculture Ministry has yet to allow these to be used on state land. (I believe you are seeing the prejudice, I told you about)
One of the problems with the Agriculture of Ministry's Dept is convincing them to be more of a control and regulatory dept dealing with food safety, border control of food products, plant and animal quarantine,etc;; instead of a production ministry. Another problem was getting the Ministry to stop subsidizing certain regions with seed and fertilizer and not giving any to other regions. This has now been accomplished, and they have now closed 11 state subsidze stations.
Presently a master plan is being developed between the Ministry of Agriculture, Ministry of Water and the Ministry of Environment to standardize the water supply, water quality and reach a maximum use of the water available. A internet hub has now been established with the Iraq Universities and Universities in other countries into the Ministry of Agriculture's offices. This dept has been totally isolated for years from international conferences,scientific publications and new techniques for increasing crop yeild. The Ministry is now sending their personel to other countries to observe and to train within these countries, so they can impliment these new programs.
In December 2004, they implimented an investor program, placing farmers with companies that want to purchase the products produced by the farmers under contractal agreements.
The Marshlands in Iraq are just over 20,000 square kilometers. Otherwords just a little bit larger than the State of West Virginia. During Saddam's period he went in and build dikes, and canals which totally messed up the hydrology of the marshlands. Saddam reduced the marshlands down to 2,500 square kilometers. It is imperative the marshlands be restored to pre-saddam. It is believed that most can be restored, but some areas will not be reclaimed. The Marshlands once were a fly away for hundreds of thousands of birds of all species, it was a filter for the eco system of that region, and served as a economic base for over 500,000 people. Programs are now being put into place to accomplish much of the reclaimation.
The people that were displaced by Saddam in this region are now coming back in from Iran and other surrounding countries to resettle back in their homeland. This creates a problem within itself, with tribal conflict, and how to interact the people coming back with the people who Saddam moved in when they left.
In Feb 2005 a new funding will be implemented that will kick off a lot of the programs that will allow this industry to flourish once again. It takes time to reclaim fields, train, acquire seeds, decide on the best crops for a region, plant, tend for the best yield, gather the crop, store, label and package, set price structures, and transport to the local and International markets. The best estimate is 5 to 10 years before it is a viable industry, with peak not being reached for at least 20 years.
The best part is progress has now started, and it is a large part of the whole.
And the building of the "Dinar Value" continues..

Yep, we've been trying to figure it out over on the Investor's Iraq Forum. So I'd be interested to hear any T&B thoughts on this new CBI move...

Where is the "Investor's Iraq Forum?"

Todd:
I just emailed the Central Bank of Iraq and inquired as to why no auctions have been held. I don't like rumors. So the only way I know is to go straight to the source. I also ask for the future date of the next dinar auction. They may respond. Who knows.. At least if they answer we will know for sure and not have to depend on someone's speculation.

For those of you that are looking for a better price for NID check out theese sites WWW.GIDASSOCIATES.COM for $825 or you can get it COD at www.getiraqidinar.com for $880

The Investor's Iraq Forum is a good place to exchange opinion, fact and rumor on the new dinar. It looks like all educational backgrounds are well represented. The common glue on the forum is dinar ownership, anywhere from a few thousand to many millions in the hands of each forum contributor. For that reason, it may seem a bit tilted towards a run-up on the dinar but it's still the most thoughtful place I've found on the subject. Here's the URL:

http://www.investorsiraq.com/

Thanks for checking Carl! I do have to admit, speculating about the nuances of each development can be alot of fun (especially when you own dinars)...

It would be nice to find out that they are preparing to list on the FOREX, but that's probably still a long shot this early in the game... but please keep us posted.

My first posting here. I own dinars.I was told it has only internal exchange value. How do people use it now in iraq.For example, how much does it cost in dinar to buy coffee at starbucks or a bottle of mineral water at the provision shop?

hey! Guys!
I sent a E-mail to the central Bank of Irag inquiring about why the dinar auctions have stop,and when they would start back up if known.
I used the email address published on their site.
My message was returned. Can not be delivered,as their message box had exceeded the message limit.
This tells me either the person who is in charge of the bank's generic messages is not checking the emails, no longer there, or they have shut down that email address without notification and without making arrangements for a new email address for public contact. Either way it doesn't make sense for Iraq's central bank to perform in that manner, unless something is "stirring."
God! I hate "Sh-- Stirring", it usually stinks, and sometimes splatters all over the people standing close to it. I'm putting on my hip waders, I don't know about you guys.

Ray!
Glad to have you on the site. Internal value means presently it is only legal tender in Irag and not being traded on the forex exchange as other international currencies at this time, or taken as legal tender at other countries banks at this time.
I suggest you read the messages of this site either from the top and go down or bottom and go up. You will find a lot of information from various postings that will give you a better understanding of the dinar, and the valuation process.
Don't pay attention to unfounded Dinar rumors as you will find them flying like knats around a cowpile.
Knowledge can not be gained unless you read and listen about the subject. First Rule : What you hear,is only a rumor unless it is verified by some solid fact.

John:
I sent a email to xe.com inquiring as to where they are getting the daily dinar auction numbers, when no auction has been held.
It will be interesting to see if they respond.

Hey! All!
The central bank of irag published today's result. The dinar sold at bank market value 1460/1usd. Two banks participated with 2 million dollars in dinar purchased.
It was published in the Iragi financial Rag that Irag has sold over $5 Billion woth of dinar in USD currency, for 2004. It is estimated over 1/4 to 1/3 has left the country to foreign investors, such as you and I.
Just for your information, I started purchasing Dinar at the beginning of the new currency. At that time I was paying $1,000.00 for 1.8million buying it direct from soldiers in irag. Just in a few short months, the value of the dinar on state side sites is worth in the range of 900.00 to 1380.00 per million. This is a value increase for a few short months. So was it a wise decision for you to invest? I believe most of you if needed,could now sale your dinar here in the states, and make a profit of 50% or more on your investment. The wise investor will wait it out, as I truly believe in a short time of 5 years or more, most of us dinar investors will be financially secure.

And the building of the "dinar Value " continues

Carl you said;
"...is worth in the range of 900.00 to 1380.00 per million"

$1380 USD per mil??
that would be 740NID/1USD
where are you getting your information?
this is not accurate

also put into perspective on CBI sales of dinar
the last 7 months averaged 30-40 mil NID each day

The CBI has stopped supply of NID-
the 2 mil on todays auction is nothing in comparison

Carl-
where on Xe.com are they publishing daily dinar auction
numbers for NID??

I have a question on bank accounts in Iraq
If you have an account at warka bank they say they are not trading at this time
why are all accounts frozen @1462 NID/1USD
if the rate has changed appreciatted ?

wouldnt this mean that people are losing money
and they cant buy or sell
this is perplexing IMO

Red!
The $900.00 $1380.00 is USD prices per million on some of the websites selling dinar here in US. Simply type Iraqi dinar in search and you will pull tons of them up showing the price they are willing to sale the dinar for.You will observe a wide range of prices per million. Again, it is the market that sets the range on the dinar sites. It has nothing to do with what you can buy it for in country.

Second QuesitonL
Type in xe.com . This will pull up the site.
Then you will see currency converter. go down to Iragi Dinar to USD Currency. This will give you the mid market daily rate. Today it shows 1462/1usd. This goes on to say they get this mid market rate from the auction that is held daily.
Keep in mind this is a forex site, so I'm not sure how they are putting the dinar on their list other than for information only. John larue was right..
I believe the Central Bank of Irag site is a more reliable site to gauge the dinar value.
If I am wrong in this information interpretation please advise, and explain why. I am always willing to listen to all view points.

Carl
re:xe.com site it says nothing of getting there
info from auction held

if the CBI rate is 1460/1USD then all these prices
of $950-1380 per mil NID are not to be trusted
IMO

Red & Carl, first time post and recent investor! Why do you say they are not to be trusted? They are obviously in this as a business venture themselves and are trying to profit now! It makes perfect sense to me...they are purchasing at the 1460/1 USD rate, and reselling anywhere from 1210-740/1USD.

J.C.
Well Said! That was what I was trying to get across to red.

Red & Carl, first time post and recent investor! Why do you say they are not to be trusted? They are obviously in this as a business venture themselves and are trying to profit now! It makes perfect sense to me...they are purchasing at the 1460/1 USD rate, and reselling anywhere from 1210-740/1USD.
---

I can see a 20% mark-up no problem....
But 100% mark-up? buying for 684 and selling for $1380 is a bit out of line
dont you think?
yes they are "trying to profit now",very true

Red:
That is how the market checks itself. By competition. If you are the selling your dinar for 1380.00 per million, and the next site is selling a million for 1180.00 and with the supply being equal, the 1180.00 seller will get the business. However if the you are the only one who has a supply of dinar to sale, then the market is whatever the buyer is willing to pay. At this very time, buyers are willing to pay more to get their hands on the dinar.

The rate at which you can buy the NID has nothing to do with the currency's real monitary value. That appears to be pretty stable at 1460 / 1USD. PortalIraq sold a million for 1076 before the election. After the success of the election, they immediately jacked their price to 1380. Why? BECAUSE THEY CAN AND THE DEMAND INCREASED. Look up "Tulip Craze" and you will learn that there was a time when tulips were traded as rare and un-atainable flowers. The desire to own them created a ferver or craze that sent the value through the roof. I'm talking flowers here! That's what's happening with these notes. If you watch for fluctuations daily, you will go insane. Do not spend more money than you can afford to lose. That's not saying you will lose, but you should buy the notes, and then forget about it for 5 years MINIMUM. the Kuwait comparison is not realistic as the infrastructure was not totally decimated as is the case of Iraq's. This will take time. It's a gamble, but also it's a case of having a LONG time horizon to reep possible benifits. JMHO

hi red,
i sell alot of stuff from time to time on ebay and one of the reasons the prices are different is that once a person puts a item for sale,the price cannot be changed after the first bid.therefore there will be a different price for the same item such as dinars.when they get some more,the price will probally go up.only time will tell. some of the suppliers have a fair to modest supply on hand to sell,but right now dinars are in shorter supply than normal.the people that have dinars on hand have probally had them for awhile, and that is why they may be selling cheaper than others because they paid less to buy them from the middle east suppliers.that is my opinion only,perhaps this may help with your question,i hope so.

Current Iraqi dinar rate in $720 per million. This is the exchange rate in Kuwait as of 2 Feb 05.

There was talk of Wells Fargo selling and accpting IQD; has any heard anything more?

XE.com has an exchange rate of 1,463.40 IQD for $1.

Good Exchange Converter

http://www.economist.com/markets/currency/fullconverter.cfm

Downside consideration

The IQD is not freely traded, and is not being used in any significant international transactions. We are unable to locate any official bank or foreign exchange office outside of Iraq that will exchange the IQD.

The IQD trades on a very small, tightly controlled exchange. The total volume of IQD traded by the Central Bank of Iraq is in the thousands of dollars, compared to the $1,900 billion dollars traded on the Foreign exchange market every day. This small number of trades makes the IQD's value effectively immaterial.

The Central Bank of Iraq's stated objective is not to promote the free trade of IQD, as is the case in a true free market economy, but rather to keep the value of the IQD stable. The only way the Bank can ensure the semblance of stability is by tightly controlling the exchange of IQD on the market, and by ensuring that the currency cannot freely trade on the open market. They evidently fear that open trading of the IQD would lead to a rout in which the value of the IQD would sink to practically nothing.

Consider the situation. Why tightly control the trading of the IQD if it is likely to appreciate in value? If the value of the IQD were to surge, this could be held out as evidence of a surge of confidence in Iraq's economy. So why not open the IQD to free trading? Why would this be done unless the Iraqi Central Bank itself feels that the IQD would decline in value in a free market?

Too good to be true?

Ask yourself one question: if the Iraq Dinar is such a hot commodity, why would anyone in the know be willing to sell it to you? If you thought that the IQD was going to multiply in worth by hundreds of thousands of percent, would you sell it? Of course not -- you'd be too busy buying as much of it as you could.

But if you thought that the IQD was going to go down in value over time, well, then you might start trying to convince people that it was a "great deal" so that you could get rid of all of yours before it nose dives.

Remember the old saying: if it sounds too good to be true, it probably is. Be careful!

Joe,

Yes you have a very, very good point. One that I too have considered. And I agree that one should definietly be careful with this investment. However, I will explain here my rationale on why I purchased some NID.

1) Everyone knows that their chances of hitting the lottery (lotto/powerball, etc) are extremely low, probably somewhere in the neighborhood of 1:50,000,000. But no matter how poor those odds are, they are significantly less if you don't play!

2) About a year ago I had the timing belt, water pump, and a few other items replaced on my truck as preventive maintenance. This cost me somewher around $600-700 USD. The kicker was that none of what I did needed to be done at all....the parts were all "like new" (Toyota...what can I say!). The moral here is that if I lose my ass on the NID investment, I'll just consider it another preventive mx that I wasted my $ on!

3)Finally I will answer your question as to why people are selling the NID if they thought it was going to 'boom'. Very simple for many (Especially Ebay!) This is a hot seller! People are buying up millions! Now, if I were to by 10M at $825 USD per 1M NID, I would spend $8250 USD. Now lets say I sell 9M at $1000 per 1M NID (pretty much the going rate on ebay). I have now made $750 USD profit and I still have 1M NID......just in case this thing does 'boom'. And if I were smart, I would go and buy another 10M and continue this process until the market begins to show signs of saturation. I personally am not doing this, but I know of others that are......and they currently have 3M NID to their name and have made a profit in the process!

I will echo Joe's concern though......don't invest more than you're willing to lose!

Joe!
Spoken like a man who has put much thought into the dinar, as to why you should or should not buy.
Up front there is a risk, of what you are saying has solid information to back your side of debate.
The other side is:
The Iragi Bank has to have tight control of the dinar until they are able to compete with other nations. At this time, they are not because of the state of infrastructure deterioration. It is estimated in order to get this infrastructure rebuilt it will take at least 5 to 10 years. When this happens, and the bank feels the country is strong enough in their GNP, then you will see the dinar go on the open market. To do it now, would drive the dinar lower in value.
Iraq wants to be recognized as a strong competitive country, that has regained its economic strength and prestige. In order to do this, they must compete in the open market. In 2010, the middle eastern counntries(GCC) are already set to tie the dinar into one currency. This includes Irag. This present value of the dinar in those GCC countries varies from 2.40dinar/usd to 3.45Dinar/usd. They want to stablize the dinar so the value of the dinar can be traded in those countries, with having to adjust for currency variations, just like the euro dollar in Europe.
you will see the smaller countries dinar value increase and the larger countries dinar go down. However, they will reach a mid-market range. It is not a matter of if, but when.
You see, we who have invested in the dinar, didn't buy just the dinar. We bought into the hope of a nation, the hope that freedom will flourish, and that in that process that iraq's currency value will increase also. If you live long enough, you learn very quickly in life, nothing remains stagnant, everything is in constant motion of Yeng and Yang.
We as investors, are along for the ride. Sure I have put several thousand into this hope. But I would have blown this amount over 10 years at the casino, or vacations, or just while enjoying life.
Besides I love waking up knowing, I have that ticket in my hand that allows me to be a passenger on this wonderful adventure of hope. This adventure may lead me to achieve wealth beyond what I have ever dreamed of, or it may not.But either way I am a winner. Just the gift of hope that I could be wealthy within a few short years is priceless by inself. I don't want to be one of those sitting on their butt, thinking, "should have, and could have, but didn't, as I watch the dinar train deliver the hope and dreams of the ones who did take the adventure.
The train hasn't left the station yet and is still taking on passengers. I suggest, "Don't wait until you hear the conductor Yell! All Aboard"

One other thought about the Central Bank of Iraq keeping the value artificially stable is that if the dinar was placed on open market and the external traders traded the value up, when people came to exchange dinar for foreign currency they might not have enough. In this scenario the value of dinar would decrease or perhaps crash due to loss of external confidence in the currency. Obviously not good for the economy.

It would make more sense to keep the value stable, keeping the economy stable until the CBI can build up enough foreign capital to take care of the anticipated demand. Remember, the Sadam boys took semi-truck loads of currency out of the old bank and the new bank pretty much started from nothing.

Roger that Joe,

Sobering comment/s, and certainly something to consider. Your statements are factual, current, and most relavent in the near-term. But...

The majority of us are now painfully aware that this investment will not come to fruition until, possibly 2 years at the earliest, but more like 3-5 years - realistically speaking. So, anyone forfeiting their life to sit in front of their calendar to watch the days go by, awaiting the magic day the IQD fulfills their wildest dream/s is not being very practical.

The banking instutions in Iraq need to stabilize the dinar to assist in rebuilding the country. Without a stable dinar reconstruction can not go forward - period. Therefore, they're doing as they should by realizing what's at stake, being prudent, and not taking any chances.

What's the result of their actions? Well, in my estimation, it causes 99% of us/we state-side dinar holders to become restless and uncertain, etc, and begin to speculate in the negative. Why?... Because we live in a fast-food society and want to make our profit sooner, rather than later - irregardless of whether it's good for Iraq, or not. (its OK, go ahead and call us "selfish") Iraqi Bankers, on the other hand, don't have that luxury.

Those major agencies selling the dinar?... Most of them bought the dinar at the cheapest prices, the ones it sold for when it first hit the street back in Oct. of 2003 - roughly 1830 IQD:1 USD; or 1,000,000 IQD sold for $546.00 USD (some even cheaper on the black market).

They know the Kuwati success story from 1990/91, and see a good chance of history repeating itself in the reconstruction of Iraq. They also know that's a marketable theory they can sell to the rest of the world - and make a handsome profit doing it too.

They purchased their IQD in large quanties and have made - and are continuing to make - good profits selling to investors in the U.S. (and other countries) for more than double what they paid for them. (nice "near-term" profit, wouldn't'cha say?...)

So, don't think for a minute that they "themselves" are not IQD investors too. I'd bet my dinar that they have a surplus set aside they're not touching, ...just in case the IQD increases in value sooner than forecasted. That way, they can make money "coming" and "going".

You bring up food for thought, ...but I feel the bottom line is this:
Near-Term IQD valuation sucks (and will continue to suck for a good while more), but on the other hand (for the patient investor) Long-Term IQD valuation is a good and wise investment, and worth waiting it out.

Just my $.02 ...(or 29.2 IQD - give or take)

Trading rate in Jordan is now $730 per 1M IQD due to elections...

Some chatter of a possible currency exchange in the distant future.

Credit Bank of Irag open for foreign accounts through NBK in Jordan.

Coins not available yet in Jordan.

HELLO EVERYONE
HAVE BEEN READING SOME GOOD AND NOT SO GOOD NEWS ABOUT THE NID. LET ME
JUST SAY THIS. WE THAT HAVE INVESTED IN THE NID DID NOT ONLY INVEST FOR A PROFIT SOMEDAY , BUT HAVE ALSO INVESTED IN THE FUTURE OF THE IRAQI PEOPLE WHICH MUST COME FIRST.WE ARE A VERY BLESSED PEOPLE TO BE LIVING IN A FREE COUNTRY AND HAVE SO MUCH THAT THEY DON'T. I BELIEVE IF WE WILL JUST WAIT THE GOOD WILL COME OF ALL THIS
GOOD LUCK IRAQ AND LOTS OF LUCK TO ALL.
RON " STILL LEARNING HOW TO POST "

Carl, tks for the info.I am in Asia.I bought the dinar recently in Bulk and have been selling to the doorstep in small amounts.(100k).Asians are very carful people as far as risk is concerned.I took advantage of it.The dinars I own now has been fully paid for by my clients and I also made 30% additional profit for my effort ! Long live the DINARS and thanks to Saddam Hussain for giving us this opportunity.

Good read from Bloomberg: (about a year old)

Iraq's Central Bank Faces Stability Question: David DeRosa

Feb. 27 (Bloomberg) -- Which will it be for Iraq? A central bank that fosters growth and a stable monetary policy, or one that steers the country into hyper-inflation and devaluation?

Iraq appears to be making progress, in a monetary sense. The Coalition Provisional Ruling Authority issued an order on July 7 granting the central bank independence. That should minimize any political pressure brought to bear on the bank, whose newly appointed governor, Sinan Al-Shabibi, is a respected economist.

The Bush administration expects the central bank law to be adopted soon by the Iraqi Governing Council, and it's hoped that both the bank and ministry of finance will be fully functional by the time the coalition is scheduled to hand over power to an Iraqi government on June 30.

Meanwhile, the bank is functioning and making important decisions. In an effort to fix Iraq's tattered commercial banking sector, the bank announced on March 1 that ``interest rates on deposits, loans, credits, securities, and all other domestic financial instruments will be fully determined by market conditions.''

It hailed the move as one more step from a state-controlled financial system to a free-market economy.

Hussein's Face Gone

Far less important, though perhaps more symbolic to the man on the street, is that Iraq now has new banknotes. Gone are the ones that featured the picture of former president Saddam Hussein.

John Taylor, the U.S. Treasury Department's undersecretary for international affairs, told a U.S. Senate committee on Feb. 11 that ``printing and delivery of this currency on time was an enormous feat -- the equivalent of 27 747 plane-loads of currency.''

That was the easy part; making it retain economic value is a different matter. If the central bank makes poor monetary choices, those new banknotes will be nothing more than colorful pieces of paper.

And that raises a key question about the bank: What guarantee do the Iraqi people have that the bank isn't going to debase the currency to create revenue for the government?

Setting Dinar's Value

Of course, currency debasement couldn't happen if Iraq were simply to push the dinar aside and use the U.S. dollar as its national currency. That isn't going to occur. This is all about making Iraq a showcase of modern democracy for the Middle East. Accordingly, Iraq needs its own currency.

From what has been publicly revealed, the plan is for the dinar to be a freely floating, or almost-freely floating, currency. In other words, the market would determine the dinar's value with an occasional bit of help from the central bank.

That certainly works for such major currencies as the dollar, yen and euro, as well as for other not-so-important major currencies.

Yet a skeptic could ask whether the coalition and the Iraqi provisional council can expect such a rosy outcome from its floating exchange rate system.

Professor Steve Hanke, an economics professor at Johns Hopkins University in Baltimore and a well-known advocate of currency boards for emerging markets nations, thinks otherwise.

Currency Board

Hanke wants to install a currency board in Iraq (see his recent paper with Matt Sekerke, a research associate at Johns Hopkins, in the Quarterly Journal of Central Banking).

Under such a system, the exchange rate of dinars for dollars would be fixed. Most importantly, the central bank would be obligated to keep enough dollars in reserve to take the place of the entire float of dinars in circulation.

The currency board concept is classified as a ``hard peg'' foreign exchange regime. It's supposed to be bullet-proof because it has all the reserves it would ever need.

Still, what's to keep the new Iraqi central bank from going astray?

In his testimony, Taylor said that when the coalition authority granted the central bank its independence, it also decreed a law that ``will also prevent the central bank from engaging in inflationary financing of the government. Indeed, it establishes price stability as the primary macroeconomic objective of monetary policy.''

This is a tremendous leap of faith. To buy into this means putting a lot of trust in the actions of what is merely a provisional ruling council.

If that's all that will be backing Iraq's new money, then better not be too fast to write off Hanke and his currency board.

To contact the writer of this column:
David DeRosa in New Canaan, Connecticut, at
dderosa@bloomberg.net.

To contact the editor of this column:
Bill Ahearn at bahearn@bloomberg.net.

Last Updated: February 27, 2004 10:12 EST

I have read through so many opinions on the NID and of course have a few of my own. Just to put this in summary perspective, the NID and Iraq have the strongest economy and most powerful nation behind it (the USA). Though most would think this is a high risk (and a risk it is) I would think that if we can overthough Saddam, allow a relative democracy to grow, assist through elections for the first time in their history then I can only think that the Dinar will take. And I would be one to think this is NOT a short term investment at all nor is it one without risk. Remember that our troops are being killed for helping out. This is not resolved by end 2005 either. I cant imagine this returning anything in less than a decade.

The best of luck to all of us!

Joe:
I don't disagree with your statements. I have just learned in life, rewards are never certain. Opportunities to take advantage of are, its what individuals do with them after they are recognized, is what makes the difference in the financial status of individuals.

RECONSTRUCTION WEEKLY UPDATE FOR FEB 03, 05
Information obtained from USAID Data

ELECTRICITY
Irag is now consistently producing power greater than pre-war level of 4,400 MegawWatts Daily.

They completed repairs on a 400KV Transmission Grid.

Irag has now increased the work pace on the project of adding 1,281 Megawatts to the National Grid, with a time goal of completing in Dec 2005.

Iraq just recently started the project of restoring 37 substations in Baghdad, which will improve the reliability of power to over 2 million people.

One of the problems of producing power was the generators ran off of diesel, which is in short supply. This caused the plants to have to be shut down for a certain amount of time. This problem has been removed in a large number of power plants, as they have now completed the change over from diesel to crude oil.

WATER AND SANITATION
Iraq has completed the repairs and updating of a major wastewater treatment plant in Baghdad. This is the first major wastewater plant to be in full operation in 12 years.

Numerious water wastetreatment plants are under construction from Baghdad,To Karbala, Mosul, etc;. This will be the first time in that almost 100% of the plants will be in operation by the end of 2006. Several major problems slowed the work. They had to totally relay water lines throughout the areas, because of the deteriorated state of the water infrastructure. Water plants are having to be enlarged, fuel changed over, sometimes all of the equipment needed to be replaced because no parts could be found. The goal of having most pumping drinkable water has been set for March 2005.

AIRPORTS
Not counting military flights, the Baghdad Airport is now processing for the first time over 45 civilian flights daily.

Work has now reached 96% completion at the Air Traffic Control Tower, with a finish date to complete Feb 2005.

They have a 100% completion on all terminals, Telecommunication equipment,Electrical, Water, Heating and Cooling, Radar, VSAT equipment and enough power generators to maintain power 24/7.

All Runways have been repaired, x-ray machines installed, taxiways completed, and will complete all striping Feb 2005.

ECONOMIC AND FINANCIAL
The Private Sector DevelopmentII program is on track with continuing their training of Iraqi bankers, and other personell to promote international trade and open the markets in Iraq.

The goal of having Iraq reach WTO Accession in 2007 in still on its time line. All Ministry of Trade's WTO Team have just completed their training.

This team is now working on the survey of Iraqi banks - including their financial statements, assessments of the liquidity and assessments of their interest in participating in the WTO/ PSD leanding programs. They have now identified two banks who qualify to start phase 1 of the WTO lending program. The WTO Team has just completed offering Microfiche training to all of the banks.

All Bank Loan Officers have just completed training in Jordan, and have now returned to their respective banks to continue the process of setting of loan policies.

The Two largest banks Rafidain and Rasheed completed a two week training in Jordan with 116 Iraqi bankers on topics related to overall sectoral liberalization, automation of their system, loan qualifying procedures, recover of band loans, and reducing exposuse to bad loans.
This was a necessary school in order for the banks to be accepted into the WTO.

AGRICULTURE
Several Vet Clinics throughout Iraq have now been reopened. The Dipping Tanks for the Sheep to improve Sheep health and Wool for international trade is now under way.

All 56 Salt tolerate wheat varieties have now been planted. This is to improve Iraq's quality of wheat and reduce imports from other countries.

The date palm progarm is well underway and several date palm varieties have now been planted. However, this only about 15% into the program.

They are still gathering data on the number tractors that will be needed. Most of Iraq's farmers have tractors that either don't work or work with limited range.

Iraq has now hired umemployed veterinarians to go to the governorates to vaccinate over 2 million sheep and goats against the live stock disease. this will safeguard their herd production, plus allow them to sale meat to neighboring countries.

EDUCATION
Over 2,405 schools have now reached reconstruction completion. Desks, telecommunication equipment, supplies, 8.7 million text books for all grades etc; have now been shipped to school districts throughout Iraq.

Just completed training of over 33,000 teachers, with 860 school masters completing the training.

HEALTH
There are three major problems the Iraqi government is having to attack immediately. Poor water quality, depleted uranium contamination from weapon explosions, and horrible air pollution. They are now identifying the worse of these areas, and designing cleanup plans to start in the near future.

Health Centers are being set up to take care of the population in several areas. These centers act like our county health depts, along with being medical clinics also.

DEMOCRACY AND GOVERNANCE
Community Councils are now being formed in all of the cities of Iraq. Some quicker than others due to security.
The Councils will train city personnel in rule of law, conflict resolution with the citizens concerning governmental business, setting up of local elections. Setting up local meetings to listen to the general needs of the local population and try to meed those needs in a timely manner. Setup dialogs with tribal leaders, and clergy so they understand the inner workings of a local government.

Law Enforcement
They have just released 6,000 more police into the communities. The 8 week police course is now graduating 6000 police a month. You can do the numbers as to the new number of police on the streets by the end of 2005.
This alone with reduce crime and insurgency attacks.
Unforunately, history has already shown some of those we have graduated still have Saddam in their blood. Those will be removed as they are identified.

And the building of the "Dinar Value" continues

TAKE NOTE OF COMPLETION DATES
Some Iraqi infrastructures are scheduled to be completed at the middle or end of 2005. The rest at the end of 2006 or 2007, with one exception and that is agriculture. It is based on a 10 to 20 year projecton. The WTO acceptance is scheduled for 2007. The constitution election Dec 2005, The GCC dinar currency to be set as one currency for the middle east countries is 2010 to 2012, Time to build reserves in Iragi banks 2007 to 2010, mid to end of 2006 is projection for Iraqi police and military to be able to handle their own security completely, and foreign countries start to take a back seat.
If you look at the developments and nothing else major happens, it appears we may start to see a dinar increase starting around the beginning of 2006,stay stable in mid 2006 then gradually climb at the end of 2006 on into 2007.
But then again this is just a projection that is indicated only by completing the above events.

I heard a rumor that the finance ministry is angry about the quantity of dinar that has left the country and is now considering a devaluation- revaluation process. I was told that the dinar would be worth .68 american but the large bills like the 25000 dinar would be redistributed as 25.00 dinars and so on. This would make a 25000 dinar bill equal to about 17.00 and change american. I hope this wont happen but it seems to be a likely possibility. Any feedback...encouraging feedback please..lol

Jason,
That's why it's a gamble. Consider it like you're buying a lottery ticket. It's not a science. You can look at all the plans for reconstruction systematically and assume all will be well with the new currency. They may want to get rid of all remnants of the american occupation and just dump it for something else even as the reconstruction moves along. Son't gamble more than you can afford to LOOSE. Buy the bills if you must, but then just forget them and perhaps in 5-10 years you'll be plesantly surprised. JMHO
Joe

Thanks Joe. I have already purchased the dinar and was fairly positive about them. I know its a gamble and theres speculation but i really am starting to believe that its almost far too good to be true now. Even with all the potential that iraq has i dont think its enuff to get that money to where we all want it to be. Oh well. Thanks again

Jason I dont think that thay would hurt thair country that way, for tham to devalue the dinar would hurt the Iraqi people the most, consider this you have worked your whole life to save enough money to retire on and now it is reduced by a factor of 1000, how could this not distroy the economy even worse than it is.

Jason giving this somemore thought, the amount of dinar out of country is a drop in the bucket to the amount of the forgiven debit; when this happened in kawait thay just went on and absorbed it, Iraq is just going to take a lot longer to get on its feet befor we see any sizable gain, I check a lot of threads and I have seen the post about this subject and it always the same person posting, I have not read any offical reports about this, just somebody said that somebody said, so just keep reading and studying and you will know who is full of B--- S--- and who is not, be patiant it will happen

Jason:

I heard a rumor that pigs could fly but I ain't seen one land yet!

Regarding re-evaluation of Dinars - I understand (as per the media) that the Minister of Finace and the Central Bank of Iraq were dis-associating on a permanent basis and have already done so. Logic prevails here and tells me that the feelings the "Finance Minister" is harboring has no relevance whatsoever on what the bank feels is pertinent to creating a strong economy - they most likely will build from the existing Dinar and it's current value.

Are you aware of what had to transpire in order to switch the currency to it's existing form? For one thing enough currency to fill 27 - 747s had to arrive and be disbursed over a designated period of time replacing the Swiss and old "Iraqi" Dinar. Could you imagine the cost and embarrassment associated with replacing the Dinar a second time within even a five year period?

Just an observation.

Good luck

HEADS UP

ordered Dinar 2 x from DinarMerchant.com 5-10 days turned into 7 weeks - no returned calls and many headaches. be aware - saw other notes posted regarding them so I thought I would add my 2 dinars worth.

Heads up - an interesting twist-
Another reason it's a very "iffy" investment. By the time you can authenticate your bills stashed away in the shoebox in the closet, or the safe deposite box - it could all amount to this:

First ever counterfeit Iraqi currency bill said seized in Bulgaria

SOFIA, Feb 3 (AFP) -

Bulgarian police busted a forgery base in a Sofia neighbourhood and seized the first counterfeit Iraqi dinar bill ever found in the world, Interior Ministry General Secretary Boiko Borissov said Thursday. "Until today, there has been no Iraqi currency counterfeit money seized in the world. Bulgarian criminals lead the line as usual," Borissov said after the late Wednesday raid.

The note with a face value of25 , 000dinars ( 17dollars, 13 euros) was printed only as a sample but mass printing was intended to follow, Borissov added. Experts said that the bill was of a very good quality, and had an inlaid gold thread and a watermark.

"The bill is a brand new emission one and Iraqi people are still not familiar with it. It would have been easy to distribute the money," Borissov said. The present dinars began to be issued in October 2003 to replace notes bearing the face of dictator Saddam Hussein in one of the first decisions taken by the US-led coalition that ended Saddam's24 -year rule the previous April. ds/mb

http://www.aljazeerah.info/News%20archives/2005%20News%20archives/February/4%20n/First%20ever%20counterfeit%20Iraqi%20currency%20bill%20said%20seized%20in%20Bulgaria.htm

If this counterfeit operation was caught, you can be there are 20 more in operation. I say to all NID owners - better find a way to authenticate on all the "security" features before accepting them as real.

One the other hand, it amy be a good sign that crooks think it's' worth while enough to counterfeit. Then again, it may turn out the only people who make money on the NID are the ebay sellers and the host of other slick web merchants. It kind of gives one pause ....

Let's get busy

http://www.iraqidinar.org/new-25000-dinar.asp

regarding the counterfeit ring in Bulgaria

1) Don't believe everything you read from bulgaria,especially 1st preliminary reports
2) The article states" only 1 25K note was found"
which is odd imo
3) could be that the note found is genuine,with
crooks using as an example for future attempts
4) the paper alone on the NID is extremely hard to come by(high security paper)if not impossible to obtain
5) there are more security features on the 25K note then our 100 dollar bill
6)I have made purchases from Iraq directly (all denoms of Notes ) and over 30 different sellers in US & Ebay (who obtain from Jordan & eqypt,Kuwait & qatar) all when put side by side are identical with no variations whatsover
when you see a counterfeit they dont stand up under scrutiny , they are meant to be passed quickly

just my 2 cents for the day
Red

Red - Thanks
The bills I've gotten smell like money and look very authentic - But just the same I'll invest another $50 for an authenticator. The Mag 2 seems to be the one that shows up the most in searches.

Just for everyone's information -

Types of Counterfeit Detection
Ultra Violet Light Detector

Currency created by a color copier or printer produces an image that rests on the surface of paper that can easily be seen when UV light is placed over it. Tiny particles of toner outside the image can also be easily seen with a UV light. Bill counters and counterfeit detectors have a UV light built into the machine. If a counterfeit bill is run through the machine, an alarm or light will alert you that the banknote is counterfeit.

Magnetic Detection or MG detection

U.S. banknotes are made with magnetic components. Several foreign currencies and travelers checks are also made with magnetic components. MG detectors are capable of detecting the magnetic components in money. When a detector does not find the presence of the magnetic components, an alarm or light will sound letting you know the money is counterfeit.

Magnifying Detection

U.S. and other foreign currencies are printed with special marks and symbols that cannot be seen without the use of a magnifier. By using a magnifier, and knowing what to look for, you can see if the bill is counterfeit. This process takes longer and is not built into automatic bill counters or counterfeit detectors.

Watermark Detection

Watermarks are marks that are specially embossed into U.S. and other foreign currencies. These watermarks can be easily seen when held up to fluorescent light. Watermarks are hard to duplicate and when fake, are easily detectable.

Lighted Reflection

Some U.S. and foreign currencies have a metallic, color changing emblem stamped into the banknote. An example is the U.S $100 bill that has a stamp in the lower right hand corner that will change from black to green. This is easily detected by the naked eye. Light reflection stamps are not detected by automatic bill counters and counterfeit detectors.

I to have had trouble with dinarmerchants. They cashed my cashiers check on the 5th of Jan and then called me and said they received it on the 10th. But according to the Bank of America they cashed it in on the 5th of Jan. Kept on telling me I would get it within 5-10 days. Then called me and said I would have to pay more for my 3 million dinar or receive only 2.6 million for the same price. Within a week they LOWERED their price down to $820 per million. Thinking about taking them to court shortly.

I bought 5 million dinar from dinarmerchants.com.
Only problem I had was they took a hell of long time to get it to me . A extra 2 months. Scared the hell out of me.

re: dinarmerchant

many have had problems with them
would stay away
There are reports that they 'kite' money
that is wait till they get sufficient funds from buyers- before they make their NID purchases, hence long waiting periods

My advice is to use a credit card. That way if there's trouble, you can dispute the charge. With a cashier's check, they have your money and you're at their mercy. I opted to pay the cost premium and used a credit card for piece of mind. I only use sources that accept credit cards.

HELLO EVERYONE
ON THE BUYING OF THE NID. I WENT TO THE CLOSEST ONE THAT WAS SELLING THE NID, AND BOUGHT IT ANDPICKED IT UP AT THE SAME PLACE FOR JUST ABOUT THE SAME PRICE
. MY TRIP WAS ONLY ABOUT 175 MILES. I ALSO MEET WITH PEOPLE THAT WERE DRIVING 1500 MILES TO GET THE NID.I WOULD SAY THAT IF YOU LOOK THINGS OVER, OVER YOU MAY BE ABLE TO HAVE A NICE DRIVE AND DO YOUR INVESTMENT AT THE SAME TIME.
GOOD LUCK TO ALL RON

Anyone have a take on what this could mean for the NID?

Thanks

Iraq deposits five billion dollars with US Federal Reserve
AFP: 2/8/2005

BAGHDAD, Feb 8 (AFP) - The Iraqi central bank has built up five billion dollars in reserves in recent months which have been deposited with the US Federal Reserve, a top US treasury official said Tuesday.

The sum will earn the Iraqi government about 100 million dollars of much needed interest each year, John Taylor, US treasury under secretary for international affairs, told a press conference after talks with Iraqi officials.

The money has been placed with the Federal Reserve Bank of New York.

Taylor said the five billion dollars had built up from the currency transactions since the introduction of the new Iraqi dinar.

He said he had discussed the importance of improving Iraq's banking system by developing electronic payments -- Iraqis still rely heavily on cash -- and to help the private sector to borrow money.

Iraqi authorities also had to set up financing for housing mortgages, he added.

While acknowledging Iraq's security troubles, Taylor said there was much to be "optimistic" about in the country's economy with more signs of activity since the country's January 30 election.

"There is a lot of economic activity that you can see just by driving around the streets," said the official, who told reporters he had not been confined to the high-security Green Zone while in Baghdad.

"The necessary economic and political foundations are taking root to ensure Iraq's prosperity," he said.

02/08/2005 16:48 GMT - AFP

http://www.turkishpress.com/news.asp?ID=37131

Update on New Article:

UPDATE 2-Iraq to earn millions from $5 bln Fed deposit-Taylor
Tue Feb 8, 2005 12:19 PM ET
(Writes through, adds more Taylor comment)

By Alister Bull

BAGHDAD, Feb 8 (Reuters) - Iraq has banked $5 billion dollars in an account with the U.S. Federal Reserve, a move that will boost ties with the rest of the financial world and earn it millions in interest income, a U.S. official said on Tuesday.

U.S. Treasury Under Secretary John Taylor said President George W. Bush had issued an executive order in November granting Iraq the right to open the account with the Federal Reserve Bank of New York.

"This enables the central bank to earn income on its reserves, of approximately $5 billion, that will be over $100 million a year. That can be used to improve infrastructure," Taylor told a news conference in Baghdad during a brief visit.

Taylor, the most senior member of the U.S. government to visit Iraq since historic elections nine days ago, earlier met the Iraqi finance minister and central bank governor in Baghdad.

He said the dollars have been accumulated by the Iraqis since the creation of the new Iraqi dinar, not sold to them by Washington, and stressed the account was an important symbol of Iraq's re-entry into world finance.

"This connection between the central banks is a very healthy one because it reflects on the way that Iraq is participating more and more on the international financial scene."

Washington has hailed Iraq's first free elections in decades as a big step towards democracy and Taylor, citing what he had seen of Baghdad's bustling streets on his visit, said the ballot's success would help spur economic activity.

U.S. officials stay mainly in the heavily fortified Green Zone, a sprawling area in west Baghdad, and normally only travel in armoured convoys from fear of attack by insurgents. Senior officials often fly in directly by helicopter, but Taylor said he had ventured outside the Green Zone.

OBSTACLE TO GROWTH

Millions of Iraqis defied the country's raging insurgency to vote on Jan 30. But a steady pattern of violence has continued.

Twenty one people were killed by a suicide bomber outside an army recruitment centre in western Baghdad on Tuesday and Taylor conceded the unsafe environment was an obstacle to growth.

"Clearly the security issues are a negative with respect to this, but we do see a lot of economic growth and economic progress and I think that as the security situation improves that will be better."

U.S. officials estimate the Iraqi economy is growing by leaps and bounds as it catches up after decades of isolation under Saddam Hussein.

In another example of progress, Taylor said the Iraqi central bank will be taking deposits from domestic banks from March 1 onwards, enlarging its range of monetary policy instruments by helping it to control the money supply and in turn inflation.

Taylor, who represented the United States at a summit of the Group of Seven rich nations in London over the weekend, said Iraq was making progress in winning more forgiveness from creditors owed $120 billion. But he gave no specific details.

Iraq won an 80 percent write-off on $38.9 billion of debts owed to the Paris Club of creditors in November and wants a similar write-off of the $45 billion owed to Gulf States.

"Right now the government of Iraq is communicating and discussing what other countries will do that are not in the Paris Club, and as far as I know those discussions are going well. But I don't have anything to add about commitments or agreements on this," he said.

Taylor will visit Kuwait and Amman during his trip to the region but declined to say whether Iraqi debt forgiveness would be on the agenda.

The United States has written off all of the $4.1 billion owed by Baghdad and urged other countries to follow suit.

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=7570941

This is HUGE news!!

-CBI is allowed to open an account w/ 5 Bil reserves

- CBI has stopped injecting dinars into the economy, we should expect to see NID currency values on the rise soon- rumors of opening by june
@ .16-.26/1USD

-CBI has stopped exchanging Dinar except for governmental purposes(from Friend in Iraq)

-5 billion reserves is equivalent to 7-8 trillion dinar

-that(5 Bil) would be 3/4 of all dinar in circulation backed by cash reserves/deposits

-If we(US) had that much cash on hand the finance
experts would be dancing in the streets and the dollar would be very strong indeed!

Yes this is extremely good news for the NID IMO

THis is the biggest sign I have seen in 6 months
that things are going our way!

John,

1. Where did you get your info about an openning price in June?

2. If the CBI has stopped exchanging the NID, does that mean they will be harder to get?

(I'm sure if I'm asking that question - the sellers will take full advantage and jack up prices immediately.

3. It does sound like good news but could you elaborate further on why.

Thanks

Joe

"- CBI has stopped injecting dinars into the economy, we should expect to see NID currency values on the rise soon- rumors of opening by june
@ .16-.26/1USD "

Are these John Larue rumors or something he may have read somewhere. Let's deal with facts here even though rumors are fun (but rampant)

We need to figure out how this new news effects we holders of the NID.

I ask all here .... Please explain - Thanks

clarify ;
The .16 to .26 projected rate is my opinion not fact however it is based on research

The recent news conference with John Taylor re:
the CBI opening fed reserve account is big news
in this'game'

The fact that the CBI auctions have slowed down to a trickle is indicative of mass quantity of NID being injected into the economy,is something of the past

Pay attention to events as they happen
they are all connected

again these are my observations
my opinions
take them as you will-
but signs are increasing in a positive way
the deals were done in Washington a long time ago -remember 'follow the money'

I really hope John is right. I've banked an entire savings account on his projections for June. If he's right, all of us who got in early will be laughing all the way to the bank.....he's to a strong NID

Terrance - i hope you're joking. The time horizon for this investment should be 5 years minimum. jmho

Joe-
My 'Five year' plan is that once it hits .01

I sell 1 Mil NID every month, for the next five years..:>)
and yes I have 60 Mil NID

Red -
Sounds good. Of course the other thing about the plan of Terrance is that he banked his entire savings on this. That's the first no-no of "investing 101." BTW, I purchased a Mag ll currency authenticator for $50 in light of the counterfeit that was recently discovered. I'm done buying my NID, but want to make absolutely sure that what I'm holding is the real thing.

Joe where did you purchas a Mag II authenticator at. and has anyone found any counterfeited money in thair purchases of dinar, the place I purchase from stated that thay check every bill.

I purchased a tiny LED keychain blacklight on eBay for like $4 or $5. It works awesome for checking the UV stamp on the currency. You simply shine it onto the back of the bill in a dark room and after you turn it off, the UV part of the bill glows for a brief period of time. If the magnetic strip, raised ink and UV stamp are all plainly visible in the note, it's 99.9999999% sure to be authentic... Kinda tough to simulate all these things on a color copier, IMO.

I have read some of your comments and I am excited about the positive enthusiasm toward the dinar. Truth is no one should expect to see the dinar increase to ".16-.26/1USD" (See post by Joe, February 9) If the Central Bank opens the currency at this price the economy would most certainly plunge. The Iraqi Dinar investment is a good one but not a get rich quick scheme.

All I know is the small percentage of people who know about and are getting in on the NID now, are the ones who are going to reap huge profits later. John Larue's scenario's are sensible and I trust his judgment fully. He obviously has studied the varying peices to the NID puzzle ad has come up with a highly probable opening number for June of .16-.26. I may be breaking every rule of Investment 101 as Joes says and I respect his opinion, but I have committed to truck loads of the new currency and can't wait to cash in when the value skyrockets. I hope we all make incredible bank. If we do I'm buying the tickets to Jamaica for everyone.

my name is brian and i am a dinaraholic,i go day to day with a constant craving for dinars,dinars,and more dinars!!!if it werent for the support of my family and friends i would buy all of em!!!they say i will thank them some day,s0o for now i'll keep my 7 mil and try not to go off the wagon.if they do hit im sure i will thank them!!!!YEAH RIGHT!!!!!

Greetings -
Got the Mag 2 today. The manual is printed for the us dollar and the euro, but basically you can use it for any currency. I also received my last batch of dinars and i have to say - if this isn't real currency, many people are being royally screwed. The phosperous glows and the thread is clearly visible and of course the watermark is clearly visible. I almst feel it was not needed, but with the report on counterfeiting, i did it anyway. I'm finished buying now, and will keep tabs every once in a while. but again, ny time horizon is 2010. Should be interesting.
Cheers all -

Member Join Date: Aug 2004
Posts: 5

1 nid : .75 usd

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

Check this out!!!!!!

this is not rumor. i post this here because it was phone convo. my cousin works for tbi. she called about 1 hour ago. she said this weekend the nid will increase to 1 nid : .75 usd. she also said warka is being investigated. she said they have to exchange currency when both accts are setup at same instituation. she told me to get my money out of warka quick.

doug,
i think you are full of ____!

Doug, you are saying that the dinar will increase to .75 usd this weekend? I would love for this to be true, but it seems just to good to be true at this point in the game..

ITS IS NOT TRUE THERE JUST JERKING YOUR CHAINS

HELLO ALL
I HAVE BEEN READING ALL THIS, ABOUT THE NID AND IT SEEMS A BIT TO GOOD TO BE TRUE. I GUESS WHAT I AM TRYING TO SAY IS JUST GO BACK TO THE BEGINNING OF ALL THIS CHAT AND READ BETWEEN THE LINES. I AM ALSO AN INVESTER IN THE NID AND BELIEVE IT WILL SOAR ONE DAY BUT NOT THIS WEEKEND. " but boy i sure hope so. "
P.S. TERRANCE PUT MY NAME ON THAT VACATION LIST.
GOOD LUCK TO ALL RON

QUICK TERRANCE! RUN TELL THE KING THE "SKY IS FALLING! THE SKY IS FALLING"!

sorry terrance, I meant that 12 year old DOUG

Hey! Guys!
I've been gone a few days and caught up on all the messages.Boy! I see by the chatter, it has been a interesting few days. A little pragmatism from Joe, a little push it all in the pot from Terrace,a dab of currency number spikes from John, who is exhibiting a little bit of "positive emotion" of "Things just may turn quicker than we thought",Chicken little with a pinch of humor,Ron with another leaf of praqmatism,Cory with stir of I hear too much postive thinking here, Wilamar with a cube of let me tell ya what I think, Brian with some more shove it all in,Red who made me wish I had 60 Mil, and Doug who was the best of all, who gave a heart stopping prediction for this weekend.
Just like a family around a kitchen table. Sure missed seeing what everone else had to say.
Thanks "To all who contributes their thoughts to our board". Your messages make me smile.
Carl

FUEL FOR THE BRAIN
As of today, Shi'ite Cleric Ayatollah Ali al-Sistani is not demanding that the country's new Constitution be based solely on Sharia, Islamic Law. He stated, the details of the Consitution should be left to the elected general assembly. What he didn't say was:
It is known that The coalition of Allawi, the present Interim Prime Minister appointed by the United States is headed for defeat according to the early election results, and will be replaced. Even in the mix neighborhoods of Iraq he performed well below what was expected, which some classified as poorly. The Shia alliance is heading for victory. It appears a larger number of Shia voted along sectarian lines, than expected. The early results show over 50% of the 275 parliament seats will be won by the Shia Alliance List supported by Cleric Ali al-Sistani. Allawi was offered several months ago a position in the Alliance list, but refused, choosing to form his own group. It is almost certain he will be replaced by a Shia Alliance member. Some say the Americans are in for a shock. The Article does not state why.
The total vote will not be known for another 10 days.
The Shia Alliance is at this time making plans to ratify the Iraq cabinet,as it is almost certain they will win the 138 seat majority necessary to do so. The Alliance has issued a statement that they would attempt to quell the country's violent Sunni-led insurgencey by improving services and a better life in those areas. "We believe if we win the hearts of the majority of the population they will over time start to support the new government." stated a alliance spokesman.

WHAT HAPPENS IF THE CONSTITUTION IS NOT RATIFIED?
The election of the National Assembly on 30 Jan 2005 marked the "START" of a transitional period. The newly elected 275 member parliament has until August 15, 2005 to write a Constitution. There is a 6 month extension if not completed by this time. The Text of the Constitution has to be submitted to the people for a referendum vote by Oct 15.
If it is approved, elections for the new government will be held no later than 15 Dec, 2005. If the Constitution as formed is rejected, the new elected assembly will be dissolved, and we go back to step one again. The Dec 15, 2005 election will either be about electing a new government with a new constitution in tact or electing a new assembly to start all over again, and with the goal of rewriting the Constitution once again. If this happens it will be a major set back. What are the odds of this happening? Probably very small due to the fact the Shia Alliance will be the majority writing the Constitution, so this will be supported by most Shia voters in the Oct 15, 2005 vote.

DID YA KNOW!!!!
Over half of the population lives in Eastern part of Iraq. Most live in Cities and not rural areas.
Most are Muslims and divided along religious lines between Shia and Sunni's. Over 60% are Shia. The Sunni's represent 20% with 17% made up of Kurds, who are also Sunni. The remainder is a mixture of christian, etc;
The unemployment has gone from 70% to some saying between 50% to 25%. This has such a large range due to the inability to get accurate numbers in some regions. Over 25% of the Iraqi are still dependent on rations. They sell some of their rations to meet other needs. Water quality and sewage problems are still a major issue in most cities. It does not look like this will be corrected for a a while due to the condition of the water and sewage plants. Fuel is still a major problem, but this is being corrected quicker than most infrastructure problems.
The world pledged over $50 Billion for reconstruction, however, only $ 2.5 billion has been released as of date. This is largely due to the security situation.
So it would be fantastic for all dinar investor, if the dinar would go to 1dinar/.75.. But common sense would indicate this is another rumor only. But boy what Great Rumor!

Doug will prove to all in very short order to be a "false prophet". There is no possible way his scenario will come to pass. However, I reiterate again, that the scenario that is not only plausible but perhaps even an almost certainty is what we are all calling now "the Larue scenario". Mr. Larue has hit the nail on the head with his assesments. June is the target date - and .16-.26 is the target price. Get your Bermuda shorts and sunscreen ready everybody - we're going to the islands....

hi all,
rumor going around that the borders will be closed between the 17th and 19th so that people in iraq can exchange at possible rate of .33 cents. anyone heard about that?

re: dougs posting above (1USD/.75 NID)

he(doug) was simply copying a post off investors Iraq forum - I might add the poster came on later that day and confessed it was all a hoax
i.e.; he made it up.

I think of a little saying here in Alabama, when I see a rumor on the site.
You can put lots of rose powder and lip stick on your pig for a Saturday night. But Sunday AM you still wake up with a pig.

this is my first time posting, but long time reader of these comments. some very nice comments,some off the wall, but all and all very good info on the iraqi dinar. carl you're still the best so far, and is a true pleasure reading your comments and facts (keep up the great work) everyone that has invested, good luck and god speed.
DOC

Very interesting reading this week. More fiction than truth but great reading material. Iraq is in a much greater position than Germany was at the end of WWII since more and more nations are extending helpful hands to help that nation to its feet. But with every emerging nation it will see its share of trials and tribulations, including economic struggle. Look for France, Germany and Russia to run back in when the violence settles to reap back the profits lost by the war, that should help boost the economy a little.

Avoid Dinarmerchants. I ordered on 31 Dec and received on 11 Feb.

Hi all first time post. First and foremost I would like to thank you all for your prayers and well wishes for our Soldiers in the Middle East. My husband just returned and he was only in the Army for a year and came home injured and missing a limb(arm), we have been getting alot of support. He did also invest in NID and our friend told us of this web site. I just have one question if I may. We now have to re-adjust our lives and I really want to know if all I been reading will come to light. I read in 5 years it may be a real good turn around for NID ivestors, do you all know and feel comfortable in that estimation. My husband has invested 2 million NID. And though we are not just sitting around waiting for the pay off, I would like to feel like it will pay off some day and have a ray of hope in the future. I thank you all again for your advice and comments. And all your hopes and prayers for our Troops and us investors.

armywife

greetings. keep in mind that nothing you read on boards like this is the gospel or difinitive information. everyone here is reading the same news links and making theirown conclusions on the NID prospoects. like all IRC's and communal discussion boards you really MUST take EVERYTHING with a large grain of salt. I've taken a stake and feel there's a chance for the NID appreciate. My own personal time horizon is 5 years MINIMUM. But keep in mind 5 years is the historical average time it takes to double your money in the stock market, so if the NID in 5 years is 1USD/700 NID - I will have accomplished that and i'll be happy. I set my sights realistically and that I won't be dissapointed. Suicide bombing by Palestinians has gone on for 4 years. It looks like we have a similar situation in Iraq. It may be 10 years until things are really stable there. Remember that Bush has an adgenda and it really doesn't include getting the value of the NID back up on par with the USD. I refuse to stake my hopes and dreams of monetary wealth on this investment. I've invested just a small part of my total invested capital, and that's it. Be careful! Be sensible, and remember - if it sounds too good to be true, it usually is. jmho - good luck.

armywife P.S.

If you want to make money while you wait for your NID's to appreciate, consider buying a a bunch, and reselling them on the internet. Those are the only people who are benifitting from this at the present time. I've considered it, but I don't have the time.

Army Wife:
Welcome to the board. Joe is right. He recognizes an opportunity here, but also realizes rewards are never certain. As Dinar investor's ourselves we applaud your husband for having the street savy to buy the dinar while he was in country. Naturally, we ourselves believe the dinar will increase in value beyond its present sale value of x dinar/1 usd, or we would not be holding our dinar and selling it on Ebay as a product, instead of treating it as an investment in our future. I suggest that you start from the bottom, which is the most current date and read upward on all of the board's messages. As you read, you will start to get a feel of the tremendous obstacles the Iraqi people have to over come in the next few years. This will also give you a realistic time frame as to when the dinar will start to increase in significant value. Remember! You will observe many different personality views that illustrate many different mind sets on when the dinar will come into its own. As you read the messages up the board, you will be going back in time. The beauty of it is, you now have the ability of knowing what events have occurred vs what the writer thought would occur at that time.Very rarely did the event time frame match what the writer wrote. This brings you back to the reality, that you do not place a time frame on anything that you directly do have any control over.This also includes events in Iraq. If you do, you will more than likely be disappointed. Joe is being realistic with you in his statements by giving a min of a 5 year time line.( He didn't say he wasn't hoping like everyone else that it would be sooner, but is putting a pragmatic face on his expectations) If the dinar moves before then, "great", but don't count on it. The Dinar is not your life, Label it as "Two Tickets On The Hope Train", and place those tickets in a safe place and get on with experencing life, as that is where the "true treasures" in life are recieved. Your husband was smart enough to purchase two tickets on this wonderful adventure. When the train leaves the station you and your husband will now be on it, not waving at the train as it passes you by. The Dinar is only one tool which will enrich your lives in time, I am certain. It is sad , but a lot of people measure their wealth by one gauge, just how much money they have in the bank. But you see money is only money nothing more. It doesn't bring happiness, as it is only a tool which allows you to experience more things in life. Most individuals are already rich. They just have not recognized it. If you want to know how rich you are, look at your husband beside you. You could be going to a place and looking at a cold stone. If you have children, or have children in the future, take the time to feel their little arms around your neck, as their nose touches yours, and they say, "I love you mommie or daddy". You can't buy that. It is given freely, and without condition.That is what I call true value. Take the time talk to a elderly person at a nursing or assisting living place who are experiencing the winter of their life. You will hear wisdom, like you have never heard before. Now! that is a true treasure.
I threw in these little examples of true values, so you can correctly label the Dinar as to what its worth in relationship to the other events and people in your life. Put it where it belongs in a safty deposit box and get on with living.

Armywife,
Thank you and your husband for your sacrafices!

Carl,
Exceptionally well said!

Thank You all. You all put a wonderfull tear in my eye and hope in my heart. We're a young couple, but hearing you all and reading your personnal thoughts insures my Husbands willingness to serve and protect wonderful people like yourselfs makes me not bitter but proud. Good luck to us all in our investment, I will be reading as much as I can and taking your advices as we go along. Lets keep our prayers up for our fellow brothers and sisters in harms way. Thank you all again yu are all very good people.

The reality.
Believe that - they WILL NOT STOP.
It's all they know. Theyhave nothing else.

http://sify.com/news/fullstory.php?id=13670455

5-10 years for NID ... minimum

Suspicious design on NID -

http://www.globalsecurity.org/military/world/iraq/images/iraq_currency.jpg

Joe!
What are you talking about? They will not stop?

Carl -
Sorry, I didn't mean to sound cryptic - I'm referring to the insurgent attacks. Here's another piece on that:

http://www.kansascity.com/mld/kansascity/news/world/10858838.htm?1c

These people are living in another era, and violence is the only ideology they know. They're willing to give their
own lives to stop freedom and democracy as we know it.

I think it's very essential to understand that more than likely a whole younger generation of suicide terrorists are in the "cue" right now - ready to die for the cause; and until that whole generation is replaced by a new more hopeful one, the violence will continue. And that's not to mention the help they get from Iran.

A realsitic perspective is essential when considering the time frame for Iraq to be a functioning country. i'ts not like Kuwait at all. That annalogy is flawed.

Does anyone have any about KBR employees working or living conditions in camp Speicher. I am being sent to that camp in a few weeks and cannot find out any information.

Thanks

Joe!
I think the insurgents are having their 15 minutes of fame at this time. However, like history has shown time and time again. Those who continue to live by the gun usually die by the gun.
Some will continue and die that way. I believe most will slowly enter into to the new way of life, as they see and start to experience the benefits. (the religious ones probably won't. But again they are in the miniority. Most of the insurgents are rememnants of Saddam Loyalist.)
The time frame still falls in the 5-10 year range.

What puzzles me is why is Iran outwardly goating the US, and the World with their nuclear threat.
I believe it has something to do with Iraq.
They feel threaten by having a democratic society as a neighbor. I feel they may be hoping an attack will be made on one of their nuclear plants. They could not stop the election, but if they can get the entire middle east in a roar, things change drastically, and a government in its infancy cannot stand.
Power is not reliquished easly in the middle east. This includes government or religious clerics who fear lost of influence on their tribes. Especially when all of the other neighoring countries are under Sunni Rule. Iraq will be under Shite Rule.
A wise man realizes nothing remains the same. It is all about positioning. New positions present different challenges. Since the election, Iraq is now in a new position and gaining respectability in the eyes of the free world. This does not set well with the ones who feel threatened.
IRAN BARES WATCHING!! OVER THE NEXT 12 MONTHS. They will continue to goat, I am sure.
In the middle east, they respect power only.They watch to see if you are a strong horse or a weak one. If they think the US is now starting to become weak due to the cost of maintaining a Military strength in Iraq, they may fiqure the United States will not act against them at this time. If the UN or US does not act, they will be seen as weaken in the middle east, and bullied by Iran.
A Nation can win a cause but loose the war, if they stay in a campaign too long, and weaken themselves financially. Then that nation will not be able to respond adequately to other threats with strength.
Lets hope this does not happen with us.

Armywife,

Tell your husband thank you for his brave service for our country. May this investment in the NID pay off , especially for people like you all that have actually had to make a sacrifice. The men and women in our armed services are the bravest men and women we will ever know. Thank you again.

AP BREAKING NEWS
The Iraqi election results were released this AM.
As expected, the Shiite Muslims won nearly half of the votes(48%), but they did not get a majority it seems.
This will then force the Shiites to work strongly with the other parties to form the government, instead of having total control over the vote.
The second strongest party was the Kurds(26%), followed by Prme Miniter Ayad Allawi's list with 13.8%. The entire voter turn out was 60%. This indicates that the positions of president and prime minister will be split between these two groups.

NOW THE HARD WORK BEGINS
Believe me the next few months will be a High Stake's Game.
It appears from several articles I have read there will be several issues with paramount importance.
Kurdish self rule,and the process of decentralization of the Kurds into a National Iraq. They have been isolated in the north since 1991. Most believe the kurds must be given a confederation in their area, just how to interact with the National Government is the trick. One of the problems is the Kurdish political group want to expand their territory to include Kirkuk and surrounding towns that have a large kurdish majority. The Kurds are adamant about this. The problem is this is a oil rich region, with a mixture of Christians, Turkomans, and Tribal Arabs and well as Kurds. There is a answer, but it must be agreed to by the assembly. The answer is allowing the local communities to have a dominant role in forming the local councils. They have lived in peace for years. It appears some want the constitution to establish 4 to 5 large blocs in the country with Baghdad as the central hub. This a new developing thought, and is similar to Libanonization. It is believe the Shiites will not go along with this, as it would take away some of the control the Shiites would gain in the new nation. It is not a question of will religion play a role but how much of a role. Their are a few iraqis who want a theocratic state with clerics governing, but this does not have a lot of support. However, it is possible that depending on the push from Shiite clerics, whether the Sharia could be installed as just one guiding source or become the primary source of law. If it became a primary source of law, it would effect personal status laws. All sides will be pushing in their own different directions, with each having a certain agenda. Since the Shiites did not win a majority it appears they will have to be a compromise on issues, which will be better for the new developing nation. Women will control about 1/3 of the legislature. They will be able to push through some women rights into the constitution.
Now! they have to fiqure our how to handle the critical issue of disenfranchisement of the Sunnis. This is essential to ending the insurgency. The Assembly will have to bring the Sunni's in informally and give them a position of importance. The key question is what position do you offer them ? Whatever it is,it has to carry enough prestige to convince the Sunni population that they have a strong voice in the making of the constitution,and just not an observer. The problem is their is still strong hate toward the Sunni's for how they treated other ethnic groups during saddam's reign.( This would be like the jewish people sitting down and ruling equally with the Germans)Difficult is not the word. But it has to be done in order to bring peace to the region. If not the insurgency will continue to delay progress in the northern part of Iraq.
What will roles be of the United States and other foreign powers after the constitution is ratified. It is unlikely, that the newly formed government will ask for a major withdrawal of foreign forces. However, I believe you will start to see more of a support role by these foreign forces in the latter part of 2005 and 2006. It is important that we get out of there as quickly as we can. But we must not weaken the military ability of the new nation in the process.
The cost to maintain our forces in Iraq is staggering, and is going to continue to increase our national debt. This weakens us as a nation, from a financial point of International trade.
The danger is another major strike in the US will cause our economy to collapse like a house of cards. If that happen we could not help any of our neighbors being attacked, must less ourselves. It is extremely important that we remove ourselves from this positon of vulnability as soon as we can. I am sure our leaders recognize this, and have already expressed to the Iraqi Leaders, they must move quicker than they have to strenghen their police and military.
The Electon gave the Iraq's a new resolve of ownership and a new poltical process to settle their internal differences. It did not solve the fundamental problems of a diverse nation. Iraq's future depends on just how big their "B----" are, in swallowing their ethnic pride and reaching a compromise on extremely difficult issues.
They have revived the proud sense of being an Iraqi first.They have shown a willingness to reach out to each group with a shared purpose of rebuilding a torn nation. May it continue...

Hello, Has anyone out there had a good experience with DinarMerchant? I am worried as heck right now because I sent them a certified check a few days ago, and now I have read this thread. What sellers have been good for everyone to work with?
Thank you. OnWis

Sorry to say - used them twice had to threaten with calls to US treasury dept. Interpol (fraud) and their 2 banks wells Fargo and B of A. I also managed to infiltrate their phone directory and leave messages for all of the staff - I did receive my dinar - 3 days later, but a total of 7 weeks wait. I would get on them now and do not let up - one guy (or more) is suing them I think.

Good luck.

If and when you decide to buy the NID, use a credit card! That way if things fall apart, the card company goes to bat for you and will prosecute the vedor if it comes to that. you'll pay a premium for that, bu ti's worth it. I've bought from two places - portal iraq, and the prominent guy on ebay (amer?) - i happen to think they're one and the same becuase the notes came packaged exactly the same. If you send a certified bank check, it's a sure way to get ripped off if you're dealing with crooks. they have your money and you have nothing. i was not concerned with the mark up considering the possible pay off in 5-10 years. the prices at portal have already risen with the success of the election. one advantage there is that you can call them and email them about the progress and without fail they return the message. Also, if you don't get a tracking number in 2 days - something is wrong. I got a mag 2 authenticator and all my notes are real for sure. worhtless but real .... :) good luck all.

A few words on Prices-
Portal Iraq is charging $1380 per mil!!

The same per mil can be found on ebay
from reliable sellers w/ good feedback ratings;
-4WStamps $828 a week
-antiques $820
-antiquesghaith $820
-jaki2000 $899 Fikri Kawar
-Dima89 $944 amer Kawar

shop around no sense in paying $1380
when the prices have stabilized

I have started a list of people who are having trouble with dinarmerchants and contacting attorney general and about 10 other places concerning my transactions with this company. Would love nothing more than to put them out of business.

I recently ordered from GID Associates at $820/1 million NID. I received my order within 1 week. I also ordered from Dinar Merchant and, after calling almost daily, received my order after about 3-4 weeks. I hope this helps and good luck.

HAPPY VALENTINE DAY EVERYONE!!!
The greatest treasure you will recieve is when a friend or relative does something for you expecting nothing in return. That is a true gift!!!!!
Why not give that gift to those who are special in your life today?

DID YOU KNOW THIS?

Did you know that 47 countries have re-established their embassies in Iraq?

Did you know that the Iraqi government employs 1.2 million Iraqi people?

Did you know that 3100 schools have been renovated, 364 schools are under rehabilitation, 263 schools are now under construction and 38 new schools have been built in Iraq?

Did you know that Iraq�s higher educational structure consists of 20 Universities, 46 Institutes or colleges and 4 research centers?

Did you know that 25 Iraq students departed for the United States in January 2004 for the re-established Fulbright program?

Did you know that the Iraqi Navy is operational? They have 5- 100-foot patrol craft, 34 smaller vessels and a naval infantry regiment?

Did you know that Iraq¹s Air Force consists of three operation squadrons, 9 reconnaissance and 3 US C-130 transport aircraft which operate day and night, and will soon add 16 UH-1 helicopters and 4 bell jet rangers?

Did you know that Iraq has a counter-terrorist unit and a Commando Battalion?

Did you know that the Iraqi Police Service has over 55,000 fully trained and equipped police officers?

Did you know that there are 5 Police Academies in Iraq that produce over 3500 new officers each 8 weeks?

Did you know there are more than 1100 building projects going on in Iraq? They include 264 schools, 67 public clinics, 15 hospitals, 83 railroad stations, 22 oil facilities, 93 water facilities and 69 electrical facilities.

Did you know that 96% of Iraqi children under the age of 5 have received the first 2 series of polio vaccinations?

Did you know that 4.3 million Iraqi children were enrolled in primary school by mid October, 2004?

Did you know that there are 1,192,000 cell phone subscribers in Iraq and phone use has gone up 158%?

Did you know that Iraq has an independent media that consist of 75 radio stations, 180 newspapers and 10 television stations?

Did you know that the Baghdad Stock Exchange opened in June of 2004?

Did you know that 2 candidates in the Iraqi presidential election had a recent televised debate recently?

OF COURSE WE DIDN�T KNOW!

AND WHY DIDN�T WE KNOW? OUR MEDIA WOULDN�T TELL US!

Instead of
shouting these accomplishments from every rooftop, they would rather show photos of what a few perverted malcontent soldiers have done in prisons in many cases never disclosing the circumstances surrounding the events.

Instead of showing our love for our country, we get photos of flag burning incidents at Abu Ghraib and people throwing snowballs at presidential motorcades.

The lack of accentuating the positive in Iraq serves only one purpose. It undermines the world�s perception of the United States and our soldiers.

This is verifiable on the Department of Defense website.

( That site is http://www.defenselink.mil/ )

Some good sites to keep tabs:

http://www.mnf-iraq.com/index.htm

http://www.noozz.com/Iraq/Index.aspx?Id=0&SectionId=0

http://www.iraqdirectory.com/en/default.asp

http://www.usaid.gov/iraq/

GID ASSOCIATES AS OF THIS MORNING IS $800/ MIL FOR THOSE OF YOU WHO STILL TRYING TO BUY, THAY ARE A VERY GOOD COMPANY TO WORK WITH, I HAVE PURCHASED FROM THEM SEVERAL TIMES AND HAVE HAD NO PROBLUMS.

I just read the chatter from the weekend - good stuff from you Carl. You had very well writtem reply to Mrs. Armywife. Your comments about what constitutes value in life were true. No investment return could ever compare to an "I love you daddy" from my 5 year old, or a being held by my wife.
Joe - I liked your pragamatic insights into the insurgency - I agree that there will ALWAYS be an element of that going on. However, I believe our media is over estimating their strength. I mean they had 8 Million voters go to the polls and cast votes unharmed, with only a handful killed that day. They get the publicity because they decapitate those they have captured, but are they really going to be a threat in the long run? I don't think so - They will be more of a pest than anything else.

So my take is this as follows: get on board the NID train. The returns are going to be phenomonal in a relatively short period of time. Remember - Carl, Joe, Red, Armywife and all the rest including Mr. Larue - Jamaica is on me when we cash in. Carl, when we get there you buy the first round of refreshments, Joe, you pick up the tab on the surfing lessons, Red, your in charge of booking the Marlin fishing excursion, Mr. Larue, you set up the beach party, and Mrs. Armywife, you just relax. If you have kids, my wife and I will watch them while you and your herioc husband enjoy eachother with a beautiful dinner.

Evening Guys!
Joe! thanks for the information. You are correct. Good news does not sale. Our News establishments whether it be international or domestic no longer gives us the full information. They only give their view (spin).
Thank God for the internet. The sad part is a lot of people still tend to get their 2 minutes of news from the major networks. No wonder they act like cattle.
Terrace, Its a deal. Looking forward to seeing all of you guys. I use to be young and goodlooking, now am just old and good looking. Oh! I'll also be the one with the Southern Drawl.

Last I bought from Dinar Merchant it was C.O.D. only, which works fine at $800/mil. They had at one time three or four web sites. They have also been the supplier to some other sites. I know all will be resolved for your good. They do get things a little tangeled up sometimes, but there intentions are good.
My main reason for jumping in, is to respond to those very good words of wisdom posted by Carl Feb 12 "Army Wife". Everything was stated just right especially "Two Tickets On The Hope Train". I copied the posting so I can read it now and then. Next, I mention with some reservation, because I don't want to cause ill fealings with anyone. As I read everyones postings I get the fealing many of us are Christains and pray for good to prevail over eivel. In this mater we can be united and direct our prayers to good. This we can do as we follow Christ's teachings and "pray for your enimies". We can ask that (insurgents) there hearts be soffened and that they reflect upon the positive and good things that has come to there nation. We can ask for strength and protection be given to all who do good. I know the power of prayer to be real and the greater the number of thoes who ask, the more help is given, according to His will. Through the use of prayer our nation's strength is great and our cause is just. May we never fail Her by honoring our Creator above all.

Hey guys,

Wonderful posts, I totally agree with everything stated. Having returned from iraq in October. My biggest frustration was finding the lack of news regarding not only the coverage of my fellow service men, but the lack of positive events taking place in Iraq. SNAFU, you nailed it man, and unfortunatley tragedy sells in America and until the news media performs a 180 nothing will change.

As far as the dinar is concerned I truly believe things will change in a positive direction shortly. Correct me if i'm wrong, but I believe the dinar has to return to pre war levels shortly. When you look at the population of Iraq and realize the Iraqi people had money before we arrived, the dinars they held had a heck of a lot more value then they do today. So basically if the dinars don't return to pre war levels soon the US will have bankrupted the Iraqi people. This why i believe the US led the movement to have Iraqs foreign debt forgiven along with the push to hold the elections as soon as they were. The whole world is watching Iraq and if it doesn't work the world will be pointing fingers at the US.

Just my thoughts
Ed

Ed:
The dinar was artificially inflated under Saddam and had no real value in regards to the world market. Only certain areas were given services of the country. The rest were either ignored, or if they the village was thought to be a threat, they were wiped out. So Saddams Dinar and the new Dinar have the same name, but like twins are totally different and separate of each other.
The Iraqi banks are know recognized under International Banking Laws. Under Saddam they were not. They were bankrupt when we went in, all of the money had been stolen by Saddam and his henchmen, then placed in International banks as other currency, not the inflated iraqi dinar.
Fingers are being pointed at the US, not because we hurt them, but because we saved the Iraqi people's butts.

Chromeman:
I can see that you have a good heart. I have learned that god gave me three tools to create my world and experiences. 1. Thoughts.. from these I will either build or tear down 2. Words..with these I build or tear down 3. Actions..with these I either create things of beauty or cause harm,developed by my thoughts and words . My entire world is created by me. I choose who are my friends, how I treat people, my own set of values, etc; From this I will experience the benefits of my choices. I choose not to classify an experience as either good or bad. Some of experiences while unpleasant ended up making me wiser in the end. Some made me humble so I would not be so cocky, some allowed me to experience the gift of giving from others, some allowed me to give and recieve that experience in return. All taught me lessons that have made me who I am today. My granddad was 82 when he died. He was a small businessman who made no real headlines.He went about his life raising his family and taking care of his friends. He was not financially rich by any means,but now that I am wiser and older, I realize that man's phone rang off of the wall from friends who called him everyday. That when he met a stranger, he gave them a handshake and a smile, and created another friend.That when he came into the room all of the grandkids and greatgrand kids stopped what they were doing, and ran to him for a hug. Everything thing that wonderful, gentle man did brought love and warm to someone. Now, I realize that to others he was not a hero, but to us who's lifes he effected he was our "HERO".
In the winter of his life,he told me the hardest thing about getting old, was losing his friends as they died off from old age. He stated, he hoped that god took him before he lost all of his friends. He did not want to be in this world without the buddies that he had experenced his life with. I remember some of the things that he told me in casual conversations, that now are standards at which I have chosen to create my world with, and I consider priceless. (1) You can't ride two horse's with one ass. Meaning simply concentrate on one thing at a time and do it well. Don't dilute yourself with too many task, for in the end your efforts will produce something that does not represent the best of who you really are.This goes for having a girlfriend if you are married, or too many girlfriends if you are not. Love is like water, dilute it too much and it becomes tasteless (2) If you truely want to know what kind of person you are, do the following: Go look in the mirror, stare at yourself for at least 1 full minute, then ask yourself this question? WHAT WOULD YOU ALLOW YOURSELF TO DO IF YOU KNEW FOR A "FACT" THAT NO ONE ELSE WOULD EVER FIND OUT? That one question, will tell "YOURSELF" who you really are, not what you want the world to see and believe. This will bring you back to the tools god gave you to create your world. Thoughts - Words - Deeds. Some People say they have no control over their life, some think life just happens to them. Neither is true. Nothing remains the same. Everything is in motion. "What" we experience in life depends on either a action or inaction. But regardless you will experience life. There is no magic in living. If you don't like what is happening in your life, then simply change your thoughts - words - deeds that are creating the experiences that you find unpleasant. You then take responsiblity for who you are, and start to bring people, and events into your life that will change your experiences.
God said, I send you nothing but Angels, for in the end, you will find you were all "Teachers and Students to one another".
This is what each and everyone of us who have bought dinar and share this board with have done. We have used our three tools. thoughts - words - deeds - to take responsibility for our experiences. We made the choice to purchase the dinar, because we believed in something good. We believed in the inner strenght of man kind, we believed that the majority of the the Iraqi people want to use the three tools that god gave us, in order to better their lifes. We believed, they have come to recognize they need to take responsibility for themselves, that they would place into action their thoughts and words of rebuilding. We believed, they desired to create a better world for themselves, for if they didn't it would not happen. You see we all have done the same thing. The Iraqi people are no different than we are. They just happen to be born in a area, where they have had to experence things that we have not had to endure.
Our belief in man kind and belief in what we as Americans are doing for the Iraqi people is an experence of one that I am sure that neither on this board would not want to miss.
God's three tools have brought us all together on this board,and from this we are starting to create friendships. Hopefully one day our three tools, having created a financial base that neither on this board would have had otherwise, will allow us to meet and give each other a big hug.
My life has already become so much richer, by reading your messages, and allowing me to come into your world for a little while. This is an experience that is making me a wiser soul. After all isn't this is what life is about?

Hello,

All poster on both www.investorsiraq.com and this forum misunderstood the CBI auction. CBI from the day 1 of currency auction sold US dollar against iraqi dinnar inorder to consume excessive dinar from the market inorder to maintain rate. In other words from the beggining CBI consuming Dinar and injecting $$$ in economy. You can view excell sheet below the exchange rate table to see how dollar decreases after each auction.

Thanks

Hello World,

I am a first time vistor to this room but my big brother has bugged me about this for a while now. He came to visit me and my 1 yr old son and left behind tons of info on Dinar investing. He has begged me to buy even just a small amount like $150 worth per month for a couple of months until I have atleast a million in dinars. He thinks it will be a good investment

While this doesn't sound like a lot to me, he honestly believes that it will be well worth it for me and my son in the long haul. I am a single parent and a struggling college student. I say stuggling because it's hard to be a FULL TIME EVERYTHING (college student, MOMMY, and EMPLOYEE.) lol

Anyway, you guys have giving me some insite to what Big brother has been talking about. When I hear it from him I think - yeah,yeah,yeah - but now having readg all of your comments make me want to really think about what big brother is talking about.

It would be kinnda nice to know that, if nothing else, Son could go to college with no worries. :0)

Keep me Posted and Enjoy Guys and Gals!
Tashea

EIU predicts good future to New Iraqi dinar

For most of 2004 the New Iraqi dinar (NID) maintained a broadly stable rate of exchange with the US dollar, and official data up to mid-December 2004 suggested that the average rate of exchange was NID1,453:US$1.

Given relative local confidence in the new currency, The Economist Intelligence Unit experts expect the dinar to strengthen slightly in 2005 to an average of around NID1,430:US$1, and, with improved security and economic activity, to appreciate further in 2006 to about NID1,200:US$1.

http://www.albawaba.com/en/countries/Iraq/180144

reality sets in-so much for the; .16,.26,.31,.33,.43 etc etc theories....
its long term

Headed in the right direction ...
Again ... 5-10 years is the right time horizon.
Keep it in perpective.

EIU predicts good future to New Iraqi dinar
15-02- 2005,07 :57

For most of 2004 the New Iraqi dinar (NID) maintained a broadly stable rate of exchange with the US dollar, and official data up to mid-December 2004 suggested that the average rate of exchange was NID1,453:US$1.

Given relative local confidence in the new currency, The Economist Intelligence Unit experts expect the dinar to strengthen slightly in 2005 to an average of around NID1,430:US$1, and, with improved security and economic activity, to appreciate further in 2006 to about NID1,200:US$1.

� 2005 Mena Report (www.menareport.com)

http://www.albawaba.com/en/countries/Iraq/180144

More ....
not sure where they get their exchange rates ...

ECONOMY: Iraqi dinar continues to appreciate against US dollar, which now buys 1250 dinars, instead of the pre-election 1460.

http://chrenkoff.blogspot.com/2005/02/good-news-from-iraq-part-21.html

To everyone, please excuse the digression from NID talk for a moment. Carl has made his case that God has given 3 different tools to create our world: thought,word,and deed. This is his response to Chromeman's observations.

The problem is that actions and words stem directly from thoughts. They are connected. I speak and do what I think. "Out of the abundance of the heart the mouth speaks" and "Faith without works is dead". In other words, I talk about what I think about. And the proof that what I say is really what I believe is validated by my actions.

The problem is many times things are inputted into our minds that effect how he think. Others may introduce horrible things to us apart from our own will when we are young. Those things can affect us for life. Or we make poor choices and open up our minds to junk that ensalves our mind. We can be enslaved by bitterness, hate, unforgiveness, or haunted by bad memories like a soldier who has seen the ravages of war. We can become slaves to our thoughts like a smoker can become a slave to tobacco. And they affect our words and actions. For example- studies have shown that the inputting of pornography in ones mind can enslave a persons thoughts more than a physical drug like heroin enslaves an addict. The results: one example could be it can ruin your intimacy with your wife (if you were married), then divorce could follow, now your kids are devasted and so goes the cycle. Those actions were a result of the slavery of the mind. An inability to break free from the power of certain thoughts.

But there is good news!

"Jesus answered them, Verily, verily, I say unto you, Whosoever continues in sin is the servant of sin.......If the Son therefore shall make you free, ye shall be free indeed."

That's the ONLY way.

Here's to the NID's rise....now back to the Dinar talk - see you all in Jamaica.

Yet another interesting article from Pakistan 4/15/95

Speculators pounce on Iraqi dinar in hope of gains

By Zamir Haider

ISLAMABAD: Investment in the Iraqi currency has become the new rage for speculators. Despite warnings that the dinar could fall through the floor, small and big players alike are betting that the currency will shoot through the roof.

�I have all the optimism that I�ll make big gains in my investment in the Iraqi currency,� says currency market player Khawaja Usman. �I have bought with a long term view but I�m skeptical about those who are buying on a short-term basis.�

Mr Usman says he�s already recovered his initial investment on the dinar since he bought it when it was selling for 3 paisas to one Iraqi dinar compared to the current rate of around 6 paisas.

�Now I am waiting for the times when the Iraqi dinar would touch its heights in six months time,� he says.

He says when the Afghani can gain ground on the back of US influence, then the currency of an oil-rich country will definitely gain ground.

�I am confident big investors would make huge profits on a long term basis.�

The dinar has been hovering around the level of 5.5 to 6 paisas against the rupee but had shot up to 9 paisas earlier this week on account of short supply.

An official of the Forex Association of Pakistan says that a total of 500 million dinar have come into Pakistan over the last few months. He says the currency has entered through Dubai since there are no restrictions on currency entering the country. �Dealers have had no problem physically transporting the currency into Pakistan,� he says.

Risk factor: Dealers say investors are thronging to the market in anticipation of the time when the Iraqi dinar will be pegged against the US dollar, which is unofficially hovering around 1,000 Iraqi dinar to a dollar. An announcement to this effect is expected later this month.

�Reports are that the US is already uncomfortable with this parity and when it opens the official parity it would take it to somewhere around 1,200 to 1,400 Iraqi dinar to a dollar, thus bringing it further down against the Pak rupee which is currently hovering between Rs 0.05 to Rs 0.06 against a Iraqi dinar,� says one currency dealer.

If dollar appreciates against the Iraqi dinar, the rupee would depreciate against the Iraqi dinar, he says.

Speculators are also eyeing June when a new political set up would be put in place in Iraq ahead of the US Presidential elections in November.

�Bush has to play this card of strengthening Iraq before his elections and I am basing my optimism on this,� says one investor.

Too much enthusiasm: A report released by AKD Securities, a local brokerage Friday says easy money has also contributed to the general public speculating in the Iraqi dinar. ��[This is} high risk currency speculation in which most investors have little knowledge of fundamentals or risk,� the report says.

But that isn�t stopping speculators. Dealers at almost all the money changers in the federal capital are of the view that they are witnessing �too much enthusiasm� among the general public for the Iraqi currency.

�Almost every second customer is looking for Iraqi dinars and the investments are ranging from thousands to millions,� says Abdus Samad of Khanani and Khalia money changers.

�I believe that the official announcement [of the peg against the dollar] would take the parity between the rupee and the Iraqi Dinar to 12 paisas or more.�

Currency dealers say the interest in the dinar amounts to �panic buying� and is at a far greater scale than the mild speculative interest seen in the Afghani.

Mohammad Qasim, a dealer at Bismillah money changer, is of the view that no one will make a loss.

�Investments in the Iraqi currency for the long term would definitely reap huge profits,� he says.

Mr Qasim says he�s advising investors to sit on their investments till other countries adjust their parity with the Iraqi currency.

A local banker said that once Iraq�s banking sector is established within the next six months, the currency could hit 10 paisas to the rupee. And that�s the sort of hope that�s driving the speculators so far.

�With additional reporting by Kalbe Ali in Karachi

http://www.dailytimes.com.pk/default.asp?page=story_17-1-2004_pg5_10

Hi all,
I am new to this board, but I have been reading postings for a month. I want to thank everyone (good, bad, or indifferent) for swaying me to buy my NID.
...need some advise on interpreting the 5 Billion deposit into a Reserve account. If I understand correctly, the 5 billion amassed after exchanging roughly 3/4ths of the total available NID? Does that mean that 3/4ths of all Dinar are in the hands of foreign invetors? If so, what is in circulation in Iraq? Does this mean that the government in Iraq will now have to print more, thus causing inflation. Please help me understand the impact of this. Thanks

Hello, I have heard that 80 percent are in Iraq, and 20 percent are outside iraq, but I do not know how this was determined. It seems a lot more Dinars could have left the country in suitcases, so I am unsure. Also I wonder if it is 3/4 of the 20 percent that may have been sold to have raised the 5 billion, this seems to make sense because I doubt that the people of Iraq would have the dollars to buy dinars, and many of them have just exchanged their old dinars, for new dinars. Like I said I do not know for sure, just my opion based on what I have heard. Buck

Does anybody know how many Dinar a 10 min cab ride would cost in Bagdad?

or how much a cup of coffee is? or a sandwich??

If a cup of coffee here in the states is around $1.00 then it would be 1400 dinar. Is an Iraqi in Bagdad paying 1400 Dinar for a cup? or maybe 500 or 100? A snadwich at the corner deli here in middle America is around $6.00 is an Iraqi paying 8400 dinar for the equivalent meal?

I also wanted to jump in here with another question (sorry if its been discussed before). Some people believe that when the dinar opens it may spike to say .5 -.15 and then retreat. This would be very typical of other things like IPO stock. If a guy (or gal) wanted to sell ...say a million to recoupe their original investment, and then hunker down say with another ten million and wait it out, where could they do this? Are there currency exchange banks so to speak, where currency can be exchanged at the current rate (plus a small percentage for the bank I am sure). I live about an hour from the Twin Cities, Minnesota, does anyone know if there would be any place like this in my area? I suppose when the currency opens it might be to volatile for a bank to want to handle. Any thoughts on this?

Buck

I have been wondering the same thing Todd has - how much is a loaf of bread selling for in Baghdad?

It seems we should be able to gauge the actual strength of the Dinar against the dollar based on the value of goods over there. With the ICB controlling the economy closely it is hard to tell what will happen when they begin to let go of the reigns. A measure of what simple goods cost over there right now in Dinar might give us a better picture of what will happen when the market is freed up in Iraq.

So does anybody know what common perishable goods are selling for in Dinar?

Do not look for the opening price of the dinar to drop substantially. At the most I would speculate 700 NID to 1 USD tops. Investment in the NID is a long term investment not a get-rich-quick scheme. Good luck to all investors.

Does anybody know how many Dinar a 10 min cab ride would cost in Bagdad?
terrnace said;
or how much a cup of coffee is? or a sandwich??

If a cup of coffee here in the states is around $1.00 then it would be 1400 dinar. Is an Iraqi in Bagdad paying 1400 Dinar for a cup? or maybe 500 or 100? A snadwich at the corner deli here in middle America is around $6.00 is an Iraqi paying 8400 dinar for the equivalent meal?
----

example: a pita bread sandwich w/ meat & salad
costs an Iraqi about 1000 dinar (0.68USD)
food prices In Iraq are about 1/5th what they are here

It seems many on this site have insight on the NID. I see someone asked a question which was not yet answered and is my same question as well. That is, when the time comes to cash in NID for USD (or any other currency for that matter), where do you go to do this? Can/does it happen where other currency exchanges would? I have heard many international banking insititutions are working with Iraq, but does that mean those are the only ones who are handling the exchange back>? Does this mean a trip to NY or LA where the main US Branches of these bank are, will be the only exchange points.? Are there any existing regulations on the maximum amount of CASH exchangable? Is there a tax on it (Versus exchange fee)?

Any insight is appreciated.

regarding exchanges with banks

There are several international banks that have plans to go "on the ground" in-country when the situation improves(security)
If you go to the TBI site it lists the consortium of banks licensed to do business in iraq

http://www.tbiraq.com/ConsortiumBanks.asp

-JPMorgan,Chase (bankone of colorado,is a member of JPMorgan banks affiliate)
-HSBC
-Standard charter bank of GB
-NBK of Kuwait

One ground presence is established along with the
World Bank ,These banks will act as conduits to US banks as;
Wells Fargo,Bank of America,Citibank, etc

All these major banks in Major cities have an international dept. that convert/exchange interbank traded hard currencies
Travelex (thomas cook is another option)
although the fees are quite steep

It is just a matter of time when the security allows the banks to enter in-country and establish presence.

as far as amounts converted I believe over 10'000 USD need to be reported(form)and you will pay capital gains tax on amounts exceeding that

a loaf or pack of Pita Bread
300-500 dinars(21-34 cents USD)

A cup of tea,beverage at a market cafe costs an Iraqi;

250-350 dinar (0r 17 -24 US cents)

Hey! Guys!
Great questions today.

Hello everyone,
This is my first post but I have been reading this forum for awhile. By faith, I believe that the dinar will peg mid to late march, not sure for how much, but when it does, I am cashing in some of mine and will sit back and watch the value rise. I have 4 mil in dinar and will probably purchase a little more. God is awesome and I am so grateful for his unmerited favor to have ordered the steps of my husband to purchase our dinar while working in Kuwait. God's blessings and speed to all you guys and gals out there. Miracles and blessings with and through our investments.

Hello, Thank you for all of the great information. I have one more question. I have read some comments where people have said it is better to have the smaller notes, is there something about the 25,000 dinar notes that makes them less desirable?
Thank you. Buck

Hello, Thank you for all of the great information. I have one more question. I have read some comments where people have said it is better to have the smaller notes, is there something about the 25,000 dinar notes that makes them less desirable?
Thank you. Buck

Posted by: buck at February 15, 2005 09:19 PM | ---

some think that as the dinar rises CBI will begin pulling the 25K notes
i.e; you would need to be in iraq to exchange if this happens _before NID is interbank traded_
but I would not think IMO that would happen until the value is in the 100-50 NID/1USD range if then ($250-$500USD)

Buck,
If they do "pull" the 25,000 notes they will simply not recycle them back to the public....they will take them and dispose of them properly....like our 2 dollar notes...they "pull" them but they are still worth 2 dollars anywere you go.
Some people think if they have smaller notes the can turn in 10,000 here and 10,000 there as needed without turning in a 25,000 note all in one shot. I believe thats why some perfer smaller notes.

In regard to denominations:

I think it's a case of liquididty. There is a 10,000 USD, but you really can't use it anywhere other than a bank. If and when the NID is liquid and traded on forex - you'll deposite your notes in the bank. If it remains stuck in Iraq, it will be a problem for all notes regardless of the denomination as it will require a bank account or a trip to iraq to cash in or out.

Bands of Brothers
New Factor in Iraq:
Irregular Brigades
Fill Security Void
Jailed by Hussein, Gen. Thavit
Is Leading Thousands Now;
Questions About Loyalty
'Toughest Force We've Got'

By GREG JAFFE
Staff Reporter of THE WALL STREET JOURNAL
February�16,�2005;�Page�A1

BAGHDAD, Iraq -- In the battle against insurgents here, two kinds of Iraqi military forces are emerging: the planned units and the pop-ups.

The planned units of the Iraq Army, about 57,000 soldiers strong, are the result of careful preparation this summer between the U.S. and Iraqi commanders. The pop-ups started to emerge last fall out of nowhere, catching the American military by surprise. These dozen disconnected units totaling as many as 15,000 soldiers are fast becoming one of the most significant developments in the new Iraq security situation.

The unplanned units -- commanded by friends and relatives of cabinet officers and tribal sheiks -- go by names like the Defenders of Baghdad, the Special Police Commandos, the Defenders of Khadamiya and the Amarah Brigade. The new units generally have the backing of the Iraqi government and receive government funding.

While regular units of the Iraq Army have taken up residence on rehabilitated army bases, the others camp out in places like looted Ministry of Defense buildings, a former women's college, an old Iraqi war monument and an abandoned aircraft hangar. Frequently, U.S. officials don't find out about them until they stumble across them. Some Americans consider them a welcome addition to the fight against the insurgency -- though others worry about the risks.

"We don't call them militias. Militias are...illegal," says Maj. Chris Wales, who spent most of January tracking down and finding these new forces. "I've begun calling them 'Irregular Iraqi ministry-directed brigades.'�" The "pop up" label comes from other U.S. military officials in Baghdad.

Troops who might have otherwise joined the regular Iraqi Army are drawn to these units because they are often led by a particularly inspirational commander or made up of people with similar tribal and religious backgrounds. This makes the units more cohesive and potentially effective against the insurgency. "Just show us where to go and we will eat the insurgents alive," an Iraqi in one of these units told Maj. Wales earlier this month when he tracked them down at a long-shuttered Baghdad airport.

Dangerous Uncertainty

The bad news is that these new units can inject dangerous uncertainty and confusion into an already complex battlefield. On Election Day, the Special Police Commandos were rushing one of their wounded soldiers to the hospital when they accidentally ran into an Iraqi Army checkpoint. The Iraqi Army officers opened fire on the Commandos' black SUV, killing the three people in the car.
See complete coverage of The Fight for Iraq.

Some U.S. officials worry about the new units' allegiances, which often seem split between their religious and tribal sponsors and the central government, creating the risk that the units could be used as militias if Iraq falls into civil war. U.S. military commanders in Baghdad are especially concerned about the Defenders of Khadamiya, which is forming to guard a major Shiite shrine on the city's northern edge at the behest of Shiite cleric Hussein al Sadr. U.S. military officials worry that the group, which now numbers about 120 men but plans to grow to more than 800, could be used to settle internal Shiite scores or deployed in a Sunni-Shiite conflict.

As these irregular units proliferate, U.S. officials face a thorny dilemma: whether to encourage these forces, whose training and experience varies wildly, or to try to rein them in. "There is a tension between on the one hand encouraging and fostering initiative and on the other executing the plan for the Iraqi Security Forces that everyone agreed on," says Lt. Gen. David Petraeus, who is overseeing the massive U.S. effort to help train and equip Iraqi military units. "To be candid, I would err on the side of fostering initiative. I want to get the hell out of here."

The first of these military units, the Special Police Commandos, was formed in September by Gen. Adnan Thavit, the uncle of Iraq's interim interior minister. The unit started with about 1,000 soldiers. When Col. James Coffman, a senior aide to Gen. Petraeus, found them they were occupying a heavily damaged Republican Guard base a few miles from the U.S. embassy. "It was basically 1,000 guys at the time living in a bombed-out building with no electricity, no plumbing and no bathrooms," the colonel says.

Col. Coffman, however, was struck by the unit's arms room, which was stocked with rocket-propelled-grenade launchers, mortar tubes and lots of ammunition. "The weapons were clean and organized," he says. He immediately went on a patrol with the unit and was impressed by both Gen. Thavit and his troops. The soldiers seemed to have a discipline that many of the U.S.-trained Iraqi Army units lacked.

The 63-year-old Gen. Thavit, an intelligence officer in the old Iraqi Air Force, attended military academies in the former Soviet Union and former Yugoslavia. In the mid-1990s he joined a small group of former officers plotting to overthrow Saddam Hussein. In 1996 their plan unraveled and Gen. Thavit was sentenced to life in Iraq's notorious Abu Ghraib prison. Gen. Thavit and his second-in-command, Maj. Gen. Rashid Flayeh Mohammed, were both released by Mr. Hussein along with thousands of other political prisoners and common criminals just before the American invasion. One of Gen. Thavit's former jailers, who gave him food and cigarettes, is now a battalion commander in his new force.

The Second Defenders of Baghdad Brigade

On Col. Coffman's recommendation, Gen. Petraeus visited the Commandos' base and was impressed with the troops. "When I saw them and where they were living I decided this was a horse to back," the U.S. general says today. He agreed to give the fledgling unit money to fix up its base and buy vehicles, ammunition, radios and more weapons.

Unlike many of the U.S.-trained Army units, the Commandos, whose ranks today include several thousand soldiers, have had few deserters. In early January, insurgents crashed a car bomb into the gate of the unit's base, killing six Iraqi recruits who hoped to join the Commandos and injuring dozens more. Some of the injured went to the hospital, got bandaged up and then returned to the base that afternoon still eager to join.

Forty-three Special Police Commandos have been killed in battles with insurgents since September and about 300 have been wounded, U.S. officials say.

Part of the reason that the unit inspires such allegiance is that all of their recruits are hand-selected by Gen. Thavit and Gen. Mohammed. By contrast, most Iraqis who join the regular Iraqi Army are recruited at a half-dozen joint U.S.-Iraqi-run recruiting stations and lack the cohesive bond and pride that grows out of being handpicked.

"The reason the Commandos are special is that a couple of great leaders at the top have just flat out put their imprint on that organization," says Gen. Petraeus.

Some U.S. military officials, however, worry that the Commandos' allegiance is as much to their leader as it is to the Iraqi government. "If you tried to replace Gen. [Thavit] he'd take his...brigades with him. He is a very powerful figure. You wouldn't get that from other units," says Col. Dean Franklin, a senior officer in Gen. Petraeus's command. "Pound for pound, though, they are the toughest force we've got."

Gen. Thavit says that his only goal is to defend the democratically elected Iraqi government against insurgents and criminals. "I could see that the police were not able to withstand the terrorists. As a professional soldier I believed it was my duty to help build a force that could work against the terrorists," he says. "I am an old man right now. I should be retired."

In late November with the Iraqi elections approaching, homegrown units similar to the Commandos began popping up all over Baghdad. First came the Muthana Brigade, a unit formed by the order of Iraqi Prime Minister Ayad Allawi. It set down roots at a long-abandoned airport in downtown Baghdad. Like the Commandos, the unit appeared to be well-trained and was pressed quickly into service. "They went from not even existing to being as viable as any Iraqi Army unit out there in six weeks," says Col. Franklin.

The Defenders of Baghdad, a far less disciplined unit made up of Baghdad Shiites, emerged in early January. The unit took up residence around Baghdad's Martyr's Monument, which commemorates Iraqis who died in the war with Iran.

A few days later Maj. Wales, ordered in December to track the units, located the Amarah Brigade in a bombed-out former Ministry of Defense building. The U.S. Army's First Cavalry Division had been renovating the building for an Iraqi National Guard unit, but the Amarah brigade pushed the contractors out.

The leader of the ragtag group of solders claimed to be a cousin of the Iraqi defense minister and said the minister's tribe had purchased the cooking equipment the troops were using to survive, according to Maj. Wales's report on the group.

Over the next three weeks, Maj. Wales says, he tracked down five other new Iraqi units -- most of them from Shiite-dominated southern Iraq. For a week no new units popped up on his radar.

Then on Jan. 30, the day before the Iraqi elections, Maj. Wales got a tip via his boss, Gen. Petraeus, that a new 2,000-man force calling itself the Second Defenders of Baghdad Brigade had formed somewhere in the city under the command of an Iraqi general named "Faris."

But Maj. Wales's usual American and Iraqi sources had never heard of the unit -- or the general. "There are no generals named Faris in the Iraqi Army," one senior Iraqi general in the Ministry of Defense told him.

Maj. Wales began to think Gen. Petraeus had been passed a bad tip. "There is no way in the world there could be a Second Defenders of Baghdad Brigade," Maj. Wales said. "It is just impossible. There is no place in Baghdad left to put them."

Maj. Wales made a few more calls to U.S. liaison officers working with the Iraqis and turned up nothing. Finally, he got in touch with Gen. Babakir Zebari, Iraq's top general, who said the brigade had recently moved into tents and a hangar bay at Baghdad's long-abandoned Muthana Airport.

On Feb. 1, Maj. Wales and a small team of American officers set out to find them. After about 15 minutes of searching the airport grounds, they found the brigade. About half of them were in civilian clothes. The other half wore new Iraqi Army uniforms. All of the men seemed to be from one or two Shiite-dominated towns in southern Iraq. Many said they were vetted by Sheik Ali Shalan of the Al Shamer tribe in southern Iraq.

"I joined this unit as an expression of my love for my country," said Wathiq Rahim, a skinny young recruit from Hilla who was clad in a black Christian Dior T-shirt and rubber sandals.

A short while later, Maj. Gen. Fouad Faris, the commander of the brigade, drove up in a white SUV. A small round man who trained at Sandhurst, the British military academy, Gen. Faris said there were 1,300 men at the airport under his command and an additional 1,500 on the way. "I am very close to the minister of defense, which is why he chose me for this mission," Gen. Faris said. The Americans later confirmed his account with top Iraqi military officials.

It wasn't clear, however, what the troops were going to do. Initially the brigade was supposed to help guard election polling places, but they arrived in Baghdad two days too late. "I was just yelling at the men for not arriving here in time for the elections," he explained.

Now the general suggested that his troops might be asked to guard the Green Zone, where the U.S. embassy is based. In the near term, he needed to find someplace better to house the men and set up a brigade headquarters. "This is not a good situation here," he told Maj. Wales. "It is much too crowded."

The unit that has generated the most concern among American military officials is the Defenders of Khadamiya, the unit forming in northern Baghdad to guard the Shiite shrine.

There is good reason for the unit. The shrine at Khadamiya draws some 800,000 Shiite pilgrims each year and poses an attractive target for Sunni terrorists like Abu Musab al-Zarqawi eager to set off a Sunni-Shiite civil war. But some U.S. military officials worry it could be used in internecine battles between rival Shiite clerics.

Because the Defenders of Khadamiya force appears so closely aligned with prominent Shiite cleric Hussein al Sadr, some U.S. officers worry that other Shiite clerics might use the unit to justify forming their own unauthorized militias. In particular radical Shiite cleric Muqtada al Sadr might try to revive his Mahdi militia, which U.S. troops battled in Najaf and Sadr city this summer.

Some senior officers in Gen. Petraeus's command have suggested the Americans ask the Iraqis to consolidate all the new units in Baghdad under a single division headquarters, putting them more firmly under the control of the central government and making it easier for U.S. forces to coordinate with them.

But there are limits to U.S. influence. "There is no way we can stop the Iraqis from doing something they want to do. This is their country and their army now," says Lt. Col. James Bullion who works for Gen. Petraeus. "We can't put that genie back in the bottle."

Hello everyone,

Haven't posted in awhile, but have been keeping up with all of the new info here at the T&B.

Saw quite a few religious oriented posts hit the site in the last week, or so.

I'm not a religous person myself, but my buddy currently serving in Iraq (who is deeply religous) sent me this the other day, so I figured I'd share it with all of you.

I've never seen this posted anywhere else - maybe you have - but, did find it interesting (considering it's accuracy)

It is relavent to our success in Iraq (if it's true), which directly ties into our investment in the NID... Sorry to say it doesn't clarify the timeline for the NID to go "Public" so-to-speak (you know, hit the Forex and all), but it is food for thought.

So, here's what he sent me:

Read down to the very bottom, you don't want to miss this.

VERY INTERESTING -

1. The Garden of Eden was in Iraq.

2. Mesopotamia, which is now Iraq, was the cradle of civilization!

3. Noah built the ark in Iraq.

4. The Tower of Babel was in Iraq.

5. Abraham was from Ur, which is in Southern Iraq!

6. Isaac's wife Rebekah is from Nahor, which is in Iraq!

7. Jacob met Rachel in Iraq.

8. Jonah preached in Nineveh - which is in Iraq.

9. Assyria, which is in Iraq, conquered the ten tribes of Israel.

10. Amos cried out in Iraq!

11. Babylon, which is in Iraq, destroyed Jerusalem.

12. Daniel was in the lion's den in Iraq!

13. The three Hebrew children were in the fire in Iraq (Jesus had been in Iraq also as the fourth person in the fiery furnace!)

14. Belshazzar, the King of Babylon saw the "writing on the wall" in Iraq.

15. Nebuchadnezzar, King of Babylon, carried the Jews captive into Iraq.

16. Ezekiel preached in Iraq.

17. The wise men were from Iraq.

18. Peter preached in Iraq.

19. The "Empire of Man" described in Revelation is called Babylon, which was a city in Iraq!

And you have probably seen this one. Israel is the nation most often mentioned in the Bible. But do you know which nation is second? It is Iraq! However, that is not the name that is used in the Bible. The names used in the Bible are Babylon, Land of Shinar, and Mesopotamia. The word Mesopotamia means between the two rivers, more exactly between the Tigris and Euphrates Rivers. The name Iraq, means country with deep roots.

Indeed Iraq is a country with deep roots and is a very significant country in the Bible.

No other nation, except Israel, has more history and prophecy associated it than Iraq.

And also... This is something to think about! Since America is typically represented by an eagle. Saddam should have read up on his Muslim passages...

The following verse is from the Koran, (the Islamic Bible)

Koran (9:11) - For it is written that a son of Arabia would awaken a fearsome Eagle. The wrath of the Eagle would be felt throughout the lands of Allah and lo, while some of the people trembled in despair still more rejoiced; for the wrath of the Eagle cleansed the lands of Allah; and there was peace.

(Note the verse number!) Hmmmmmmm?! God Bless you all Amen!

Well, that's it... Spooky stuff, or just a bunch of hype? ...any comments???

Bill

Bill,

The historical portions of your posting concerning what happened in Iraq is mostly accurate. However, the stuff about the Koran and the 9:11 passage is complete poppycock.

The Koran contains Mo's writings about the Islamic philosophy and doctrine, not history - it is not like the Holy Bible which is historical in its basis from cover to cover (and verifiable I might add archeologically). The cool thing is the Bible has history past and FUTURE proving that though it is 66 books, penned by 40 authors on multiple continents it has its origins from outside our space time continuum - Thus the Word of God.

Please please dinar hit the market soon.. I really need my dream to come true now more than ever. Guys, I went to college for six years, a phi kappa phi honor receipent, a phi alpha national social work honor receipent, a Audrey Knighton national social work scholorship receipent, I graduated in the top 3% of my class with a 3.98 GPA, yet after a year and a half, i am still unemployed because im a disabled person.. Yes I even went for a interview for a position with The Social Security Administration on January 12, got the letter today stateing I was not chosen.. Is it Ironic that social security refuses to hire someone because they are disabled.. I guess this proves that it is not what you know but who you know. I really beleive that the disability act and vocational rehab is a joke and a waste of tax payer money in this country.. Anyway, I know this site is for dinar posts, but I have been here with you guys everyday for over a year now.. You are the only friends I have in this world, and I needed to talk to someone.. Thank you for listening.. The dinar is truely the only dream I have remaining to get me and my kids out of poverty.. Because the system is a fake.. And to think, I grew up without a grandfather because he died for this country.

I am compiling a list of people that have not received their dinar, been shorted dinar or have had long waits to receive their dinar, all contrary to what is advertised in their website.

So, me dinar buddies and buddettes, please inform me of your plight by emailing me with your name, email address and problems past, now or ongoing.

wjcm2003@hotmail.com

I plan to have several agencies looking into these folks, especially after my brother was shorted 400,000 dinar out of a $3,000,000 NID purchase.

I can at this point only recommend you be careful, be very careful of any transactions with them.

Tony Sr.

Re: DinarMerchants.com

I am compiling a list of people that have not received their dinar, been shorted dinar or have had long waits to receive their dinar, all contrary to what is advertised in the DinarMerchants website.

So, me dinar buddies and buddettes, please inform me of your plight by emailing me with your name, email address and problems past, now or ongoing.

wjcm2003@hotmail.com

I plan to have several agencies looking into these folks, especially after my brother was shorted 400,000 dinar out of a $3,000,000 NID purchase.

I can at this point only recommend you be careful, be very careful of any transactions with them.

Tony Sr.

TO POSTER X,

Rather than fill up all that space, cut and past a link to the article your cut and pasted.

John

John,

Unless you are a WSj subscriber a link would not have work. Frankly, the space the article took up was no more or less equal to the space of those excellent posts by Carl.
I'm unsure of why this would be a concern?

hello,

just a quick note to let you guys know a good friend of mine just got back from iraq and word on the street is that all of the dinars now in curculation will be recalled and new dinars will be rolled out sometime next year people in iraq are not using this new dinar as they think that the US has a hand in it and want there own currency. so good luck trying to convert to the new dinar

Thanks Dave -

Runor or fact, it's storys like that which is the reason why you gamble with money YOU CAN AFFORD TO LOSE.... 100% of. People are pinning too much hope on this scheme. At least "dollar cost average" your way in. Buy some this year, then wait till next year to buy more. then if it goes down you're cost basis is lowered.

At minimum regardless, you need to have a 5-10 year time horizon presuming the "Bremer Dinar" is ultimately used.

Does anyone have and idea when the dinar is going to open, ive heard march and ive heard june.
If anyone wants a reliable sorce for dinars I have been ordering on ebay for the last yr on ebay from a guy from Jordan.He only accepts credit card, and has very good prices.His screen name is Dima 89.Take care all !!

Dave,

Don't think so. The Iraqi people are actually quite happy with the "Bremer Dinars" for several reasons. Chiefly, all of the high-cost security features that are built in to these notes have given the people trust in the currency that they have not had since pre-Saddam years (if ever). Secondly, the fact that the notes are without images of the tyrant or icons of his rule have been constantly boasted of as well. I don't know where you are, but it certainly is not in Iraq. Do you have any idea about the costs and worldwide loss of confidence that would be sacrificed by instituting another currency change? It ain't happening.

Dima is the amer that everyone talks about and who people refer to all the time. If anyone is trying to find a reputable dealer hes the one to go to.

As far as when the NID will "open" the answer is its not necessarily going to be like a stock that "opens" to the free market. At least that is my understanding. The IBC is going to closely control what happens to the dinar while the Iraqi economy gets on its feet. Once stable I would imagine the IBC would begin to loosen its grip on control of the NID and the free market will gradually begin to affect the value of the NID.

If anyone knows of an official plan to "open" the NID on some future day I would be interested to see where I could verify this....thanks

Whenever the plan (and you better believe there IS a plan) to "open" the NID on forex, we will not know until it happens. One thing for sure, the discussion boards will be hopping for a few years about this.

The currency is not going to be changed.. A lot of thought and work went into the new dinar. Each note has a part of Iraq's history and culture. Why would the people in iraq refuse to use a note that is truely iraq. I think there will be an issue about the 25,000 notes.. Maybe they are planning to open the dinar at a low rate so they can control the transfer rates, and not bankrupt the government. That is why I sold half of my 25,000's and replaced them with 50's and 250's. I plan to sale my 25,000's and sit on my small notes to see how high the dinar will go.. It is just the way I see things, but if I had all 25,000 notes, I would still have faith in my investment...

Why in the world would they go to yet a third currency? It makes no sense other than to throw a bunch of money they don't have out the window. This is a VERY sophisticated currency. Some of the most sophisticated there is. The new currency idea makes 0% sense.
What could the issue be with 25,000 notes? Once the currency is public and you can trade it at several banks in the U.S. who cares what denomination its in? I am prepared to wait 20+ years if that what it takes.

The issue with the 25,000 notes is: the centeral bank of Iraq is selling one million for around +or- $700 us dollars. If the dinar opens at .25 us, that means the centeral bank of Iraq would have to give you back $250,000 us dollars for your $700.00 investment! So, how can a government pay out more money than it takes in and still stay above water? The only way is to do away with that note or drop zero's. Or open the dinar at a low rate so most investors will cash in and they can control the transfer rate.

Chris, dont worry about the large notes, I really dont think that they will drop or change any notes. I just mean that many things have to be in place and the government must be able to handle the transfer of all this money. Iraq is improving more everyday, and as soon as the country starts cashing in on oil exports and foreign trade and investments, they will have tons and tons of us dollars to handle this transfer. I just purchased small notes because of the "what If" factor. If it did happen, I will still be in the game. Just keep the faith..

Carl and EJAMM

When I look into the mirror, I know that I am not alone. On a raft, alone in the middle of the Atlantic Ocean, I rest with His presents as well as do I now. He knows us by our names. He gives to us individually, our needs to help us grow.
EJAMM not to worry. The 25k notes were printed in far greater quantity than needed for just Iraq. Anticipating other world economies helping the economics of Iraq to strengthen. Today in the Bank of Iraq, monies from around the world are there in exchange for the trillions of NID purchased. Iraq's holdings in dollars, euros, ponds sterling, and many other currencies are enameling the Iraqi government to import with credit because shippers are guaranteed through hi valued currency already in the Bank of Iraq. In other words, when you buy the NID you are helping the cities and government of Iraq to buy; desks, books, computers, etc.
It is true, that in time the 25K note will be pared back, but only in a fare manner. A second and equally great function now in play, with the 25K note is the ability to control inflation with a low value exchange. This continues until exchange volume is levels of, then again, increasing slightly. Using several moves after this manner the NID is reclaimed or bought back at its lowest levels and all the while NB of Iraq is in full control of it currency value. Controlling the rate of inflation.
Some people will hold onto there NID until it peaks out. Not moving up or down for six or eight months. However, the greater volume of the notes will be far more predictable as to when the return flow will occur. Be of good cheer. All is well planned for on the economic front. I see some being exchanged at a very low rate in the end of 2005. Most will wait for a more favorable rate near the end of 2006 or early 2007. For now we need some help in winning the hearts and minds of those who would do harm and seek to do evil so we can get our troops home.

Interesting article on the value of paper money:

http://www.sims.berkeley.edu/~hal/people/hal/NYTimes/2004-01-15.html

exerpt:

After the gulf war of 1991, Iraq was divided in two: the south ruled by Saddam Hussein, the north governed by the local Kurds. Mr. Hussein needed money to finance government spending, and in the time-honored tradition of dictators, created it himself.

The government could not import more of the bank notes then in use, because of United Nations sanctions, so Mr. Hussein ordered the local printing of a new currency. In May 1993, the Central Bank of Iraq announced that citizens had three weeks to exchange their old 25-dinar notes for the new "Saddam dinars," which bore his portrait.

During the next few years, so many Saddam dinars were printed in southern Iraq that they became virtually worthless. The face value of cash in circulation rose from 22 billion dinars in 1991 to 584 billion in four years, and inflation averaged about 250 percent a year over that period.

Residents of northern Iraq could not exchange their notes. The 25-dinar notes continued to circulate and became known as the "Swiss dinars," because they were printed with plates made in Switzerland.

The fact that the Swiss dinars continued to be used at all speaks to the power of social conventions. The Kurds in the north despised the Baghdad government, and would have much preferred to have their own currency. But there was no government in place powerful enough to mandate a currency change, so they kept using the old Swiss dinars by default.

The Swiss dinar was in fixed supply, while the Saddam dinar was flying off the printing presses, so it is not surprising that the Swiss dinar quickly became more valuable. By spring 2003, it took 300 Saddam dinars to buy one Swiss dinar.

The more interesting economic effect was the behavior of the Swiss dinar against the dollar. In fall 2002, as it became more and more likely that the United States would invade, the Swiss dinar became more and more valuable.

This appreciation was driven by expectations. If the Kurds had expected that they would once again fall under Saddam's sway, the Swiss dinar would have quickly become worthless. As this became less likely, and the belief that future governments would accept the Swiss dinar became more widespread, the local currency became more valuable. Of course, every exchange rate movement can be interpreted in two ways: in the north, the Kurdish regional government initially interpreted the rise in the Swiss dinar against the dollar as a fall in the value of the dollar.

The government soon realized, however, that since the dollar was stable against other currencies, the correct explanation was that recounted above: the increasing belief that the Swiss dinars would, in fact, be honored by future governments.

The government was right. On July 7, 2003, the American occupation administrator, L. Paul Bremer III, announced the creation of a new Iraqi dinar that would be exchanged for the two existing currencies at a rate that implied that one Swiss dinar would be worth 150 Saddam dinars.

Interestingly, the currency markets valued the Swiss dinars somewhat higher than the official 150 exchange rate, primarily because many counterfeit 10,000-dinar Saddam notes were in circulation.

This story illustrates that paper currency can take on a life of its own, even in the absence of government backing. At the same time, it is clear that government backing makes a significant contribution to the value of paper currency: the more likely it became that the Swiss dinars would be valued by a subsequent government, the more valuable they became.

Hal R. Varian is a professor of business, economics and information management at the University of California at Berkeley.

There seems to be a lot of concern about large Iraqi Dinar notes (namely the 25K note). The U.s. went through an experiment with large notes years back (http://www.moneyfactory.com/section.cfm/5/42). The U.S. had in circulation at one time a $5K, and $10K note. It was discontinued due to lack of use without consequence, so I wouldn't fret too much about the 25K dinar note.

THE BIRTHING OF A CONSTITUTION...
All appear to be individual acts or events.But don't be misled, as each effects the whole of what is happening in Iraq.
In order to understand the players,we must know the elements of the environment in which the players live. Each player is a product of their environment, and each element such as; religion, economic, social, culture, and political directly effects the emotions, and actions of the individual within that environment.

Surrounded:
Iraq is surrounded by undemocratic, nationalists, and chauvinists regimes. The Leaders of these countries such as Syria, and Iran do not wish to change. They see any change, whether it be in the country or adjacent to their country as a tremendious threat to their security and power. The leaders are either radical reliqious, monarchy religious, semi-religious, semi monarchy, nationalist, or semi-nationalist with centralist powers. Neither of these states will allow democratic tendancies.
The collapse of Saddam's regime has really kicked an ant hill, and the ants are P----- Off. The United States, has placed what they fear most in the middle of the Ant Pile."Power given back to the people". Iraq which sits in the middle of these surrounding countries, has started the process of becoming a democratic country. The power is being given back to the people instead of a ethnic group, tribal clan, or religious clerics. Iraq is starting to impliment western and democratic values, along with International human principles for the entire middle eastern region. The right wing nuts of those religious groups see this as Satans ways, as anyone who doesn't conform to the Islam way of thinking is a infidel. (Sort of like some religious groups here in America, that think, if you don't worship my way, you are wrong in your way of worship, and some pious individuals feel compel to berate you for not believing as they do.)
These surrounding countries know without a doubt, that Iraq's new government will have influence on their populace. As their citizens will be going into Iraq, they will see the free press, the movie houses, the clubs, the western wear, and it goes on. They will be taking some of those items back with them into their country. This causes trouble for those countries, and threatens their power base of tyranny and greed.
This effect has already started to have its effect in Eqypt,Turkey,Afganistan,Jordan,Lebanon and now for the first time Saudia Arabia had an election, as limited as it was. Democracy has broken out with Israel's neighbors and it appears for the first time, that a cease fire just may hold.
Iraq's surrounding countries see the adjustment of the rebalancing, and the reconciliation of power in Iraq, now as real. They cannot believe that all those ethnic groups are now starting to work together, as their own power base depends on diversity.

Syria(No larger that one of our medium size states)
Is a huge player in trying to keep Iraq from giving the power back to the people. It is widely known that Syria's borders are open to allowing the insurgents to move back and forth into their country for money, rest, resupplies of weapons,training and manpower.
Syria was once part of the Ottoman Empire,but was broken up during World War I. It was under the control of the French until given its independence in 1946. In 1967, Syria lost the Golan Heights to Israel, and has stationed troops in Lebanon, supposely in a peace keeping capacity ever since.
Over 58% of their population is between 15-64,(median age is 20 years) with only 3% over 65.(life expectancy 68 ys for male, 71 for female)
The 90% of the population is composed of arabs, Kurds, Armenians.About 76% of the population can read and write.
It is considered as a republic,but has been under a military regime since 1963. The President since 2000, is Bashar Al-ASAD. He is the son of the former president, Bashar al-ASAD, and took over after his death.
Their ecomony is not doing well at all. Since the coalition and new Iraq government has taken the power from Saddam, their GDP has dropped to below 1%. They were getting water from Iraq under an agreement with Saddam, as they have a very limited water supply, out of control water pollution due to no constrants on their factories, improper sewage disposal which has contaminated their underground springs, and a growing population. This agreement is no longer in place, and has caused a tremendious hardship on their population. Iraq is now using the water for their own needs, where as before the Iraqi people's needs were ignored by Saddam. This has not set well with Syria. Syria was suppose to be out of Lebanon, under a UN order in 1992. They are still there of course.(Typical UN, issue a directive, no guts to back it up)
The bombing of Lebanon's ex-prime Minister,Rafik Hariri, is believed to be either directly or indirectly supported by Syria. The reason, is he was recently been involved in a full court press to get Syria's 17,000 troops out of Lebanon. It is known that Iran land's a plane, twice a week in Syria with weapons,men and supplies for the Hezbalah camps operating in Syria.

IRAN (the size of Alaska)
It was known as Persia until 1935. Iran became a republic in 1979 aftr the ruling monarchy was overthrown and the Shah was forced into exile. The conservative right wing nuts, known as Clerics, got power and turned their country into a theocratic government with ultimate political authority vested in a learned religious scholar.( Like some idiots would like to do here in the US)
In 1979, the United States relationship was strained when the religious nuts insited a group of students to take over the American embassy and hold the personnel in side as captives. They held them until 1981.
During 1980-88 Iran fought a bloody battle with Irag that led to no real winner. This war led to some conflicts with our Navy and the Iranian Airforce. This is when we actually got deep into bed with Saddam. Saddam was a As----- then, as he was when we relieved him of his command so to speak. But he was "OUR" As-----.
How did we know Saddam had the capability of germ warfare and other weapons of mass destruction?
Its because we are the ones who gave it to him. Not only that, we also sent personnel over to show him how to develop it. We gave him the germs from the CDC in Atlanta under the treaty of giving countries these germs to develop vaccines to prevent them.
Did he destroy them? What do you think? At the time of his removal he was on international speaking terms with Syria, so to speak. There is proported to be documents that show some of the WMD went to Syria before we removed him. Why did we remove him? We no longer had a International interest with him. He became more of a International liability, to us, than an asset.
Do you know that the Iraqi Generals were willing to hand Saddam over to us after the first Gulf War, and President Clinton turned them down. Why would he do that?
BECAUSE HE WAS OUR "BOGGIE MAN" IN THE MIDDLE EAST. THE OTHER SURROUNDING ARAB NEIGHBORHOODS WERE WARY OF HIM. HE HAD INVADED KUWAIT, GASED HIS OWN PEOPLE,AND FOUGHT A 8 YEAR BATTLE WITH IRAN. HE WAS CONSIDERED A LOOSE CANNON. The International agreement was this. The United States would keep Saddam at bay, if the middle eastern nations would keep the oil production the same, and the price at a reasonable price. Thus a Mutual International Agreement was in place. When we removed Saddam, we removed the "Boggie Man" for the Arab Nations.(Information from CIA Documents made public, under the freedom of information act) The result is a now wildly, swinging price in crude oil, driving the price of gas, higher than it has ever been in the United States.
FIRST! YOU HAVE TO UNDERSTAND THIS!!!
There is no such thing as International friends.
It has never existed and never will.
THERE IS ONLY INTERNATIONAL INTEREST!!!
History, bares this out. Example; Britian is now considered to be one of best allies at this time. But history, shows that we in America just loved to have them wearing those little red coats, during the revolution, because they made easier targets. The French hate our guts at this time,and we do not consider them to be a very good ally, at this time in History. But History, shows that when the little suckers rolled over like a bitch dog, to a alfa male with Hitler, Britian,and the United States teamed up with other countries, and went to save their wine swilling butts. They loved us to death. Why did we do it? Not because we like them, but because it was in our interest to do so from a national security stand point.

The fact is Iran has been supporting state sponsered terrorist for years in Lebanon and other countries. They today remain subject to economic sanctions and export controls because of its continued involvement. In 1990's the elections gave them a reformist president, who wanted to change the govermental structure to a more moderate form of government. This has been fought successfully by the conservative religious groups.
The result is they have a large majority of their population highly disatisfied with the present form of government, but they have no means of change unless the international community supports them. This is one reason, why Iraq scares the bezees out of them.
There economy is in a mess. It is marked by a bloated, inefficent state sector, over reliance on Oil, fiscal policies that create distortions throughout. Most of the economic activity is control by the state. Private sectors are mainly small scale, such as workshops, farming, etc; High oil prices in the recent has allowed Iran to mass a huge cash reserve of some $22 billion in foreign exchange currency, but this has not relieved their high unemployment or inflation. They have been hit with major earthquakes killing up to 30,000 people at a time. They have over 22 million available for the work force but have a shortage of skilled labor, due to the large amount of the population has a literacy problem. They have a terrible problem with air pollution, drought, wetland loss, and oil pollution due to inadequate guidelines in drilling, etc;
They have a population of over 69 million, with the average age 23.5 yrs. Life expectancy is 68 male and 71 female. They populaton is 51% Persian, with the rest being made up of Kurds, Arab, Lur, Turkmen, Baloch, Gilaki, Mazandarani.
The religion is mainly 89% Shi'a. with 9% being Sunni, and Zoroastrian, Jewish, Christian and Baha'i making up the rest. Iran thought they had a shoe in the door, when the Shiites in Iraq was the main winning party. However, there is very little support for a theocratic government like Iran's in Iraq. This has not set well.
Under the persecution of Saddam a lot of Iraq's population went to Iran, and have lived there for years. They are now coming back into Iraq. These people are bringing they beliefs and lifestyles back with them into Iraq. This will be a issue the new Iraqi Government will have to deal with.

Syria and Iran have both been huge players in trying to prevent Iraq from becoming a democratic nation. Their first effort failed, and an assembly was elected. They are desperate to either stop the constitution from being written, or to have a major say in its formation. They are taking both roads, in case one does not work.
The New Iraqi Assembly is now in a precarious position. The Wranging over the new government now begins. I believe this is one of the most dangerous times since the coalition entered into Iraq.
We as dinar investors need to keep track of every event going on in Iraq, Syria, Iran, Jordan, and Lebanon. Nothing happens with these governments or groups without a motive. The trick is determining what the motive is and stopping it if is not in our International Interest.

Everything is always in motion. The Iraqi Government and the Coalition are now in new positions with new challenges. I will give some examples what they have to consider before choosing the next strategic postions, in my next posting.

Thank you Carl - Great Information!

Hey yall,

I wanted to say big time thanks for info on investing in NID. I plan to purchase two tickets on the hope train myself and set on them a while. I agree totally that the biggest concern NID investors will have in the patience to collect. The estimates on most investors cashing in at the controlled increase is on the mark when you think about it logically. If they increased at a high rate too quick it could cause economic problems.

I am just reading everyday and taking it all in. I felt that you guys should know how much we appreciate the forerunners knowledge and yall taking time to share with us newbies.

Take care and may we all treat this as what it is - an investment: (from Websters) : the outlay of money usually for income or profit : capital outlay; also : the sum invested or the property purchased. Notice the term "usually" meaning at a risk.

I pray we profit on this one!

Peace,
Scooter

Carl, great job with the geo-political analysis!! Even if I wasn't completely intoxicated I'm sure I'd be equally impressed...

YEAHHH!! GO DINAR GO! :)

He Wasn't Mother Teresa!
I am only covering Rafik Hariri because a day after he was killed the United States recalled the U.S. Ambassador to Syria for consultations in a diplomatic response to the bombing. Syria is also a major player in the middle east and anything they do directly or indirectly effects the new Iraqi government. This indirectly effects the dinar, which directly effects us as investors. Monday, former Lebanon Prime Minister Rafik Hariri was among those killed in a massive explosion in central Beirut's seafront district. At the time of his being sent to the "big Guy" in the sky, he was 60 years old.
He was Lebanon's Prime minister 5 times, and most of it was marked by tensions with Syrian President Emile Lahoud. Harin's resignation was prompted when paraliment revised the Lebanese Constitution to extend Lahoud's term, which was to have ended in November of 2004. But lets stop here and look a little closer at Hariri. Just who was he, and how did he fit into the middle east political picture.
He was a billionaire who traveled around Beirut in a Limousine equipped with a device designed to thwart car bombers by deactivating nearby cell phones. Whenever he left his residence, three decoy motorcades roamed out in front to confuse any would be assassins. While some lebanese had pride in his accomplishments, many regarded him as having sold the country to Syria and destroyed its economy during the course of his life-long drive to enter the ranks of Lebanon's Political establishment.
He was born in 1944 the son of a Sunni Farmer. He went to Beirut University and majored in accounting. In 1965, he couldn't afford the tuition, and left for Saudi Arabia. After working as a teacher in Jeddah, and later as an auditor, he set up his own construction company to try and cash in on the construction bonanza that resulted from the oil boom of the 70's. He did well, and purchased the French construction giant Oger in the late 70's. He was now head of the largest construction company in the Arab World.
As a result of his reputation for dependable work he won the respect of Saudia Arabia's royal family. By 1980 he had become one of 100 richest men in the world. He poured considerable amount of funds into Lebanon projects, and paid for thousands of students to go to college. But records show he also financed opposing miltias against each other. Some said he did this,knowing that any destruction of the city would be repaired by his construction crews and place millions in his pocket. Sensing where the power was, he started spending more time in Damascus, the capital of Syria. He was smart enough to know that the road to any political future ran straight through Syria. He worked feverishly to ingratiate himself to the Assad regime. While he was considered a successful mediator for Syria, it did not bother him to use cash if talking needed a little support. In 1987, he launched a bold initiative to break through the political impasse between the Syrians and Lebanese President Amine Gemayel. He offered the Lebanon president $30 million dollars to resign in 6 months and go off and live the rest of his life as he wished. He offered the Syrians $500.00 million to permit the sucession of Johnny Abdo to the position of president. Johnny Abdo, would then appoint Hariri as Prime Minister to Lebanon. It didn't work because Gemayel refused to go along with the proposal. At the end of his term, he appointed Michel Aoun as interim prime minister, since Syria would not allow the parliament to meet in order to elect another president of Lebanon. Harir was instrumental in organizing a "National Reconcilation" conference of Lebanon's Parliament members to persuade them to accept Syrian control over Lebanon. After the Syrian forces took over west Beirut in 1990, they invaded east Beirut.
Hariri returned to Lebanon and began negotiating reconstruction contracts with the Syrian installed government.Hariri started to paving his political future with bribes to various political elites. In a sweet deal, because of Hariri's pledge to guarantee Lebanese government loans, one of Hariri's construction aides was appointed to lead the governments council for development and reconstruction. Hariri's construction company was then given the government contracts for reconstruction. By the summer of 1992, he was at the helm of reconstruction planning in the capital. Some dubbed it "Haririgrad".
However, other things were starting to develop. Damascus authorized an escalation of Hezbollah attacks again Israeli forces in south Lebanon. This set off a spiral of reprisals which caused the Lebanese currency to plummet, and the cash flow in the capital started to dry up. Meanwhile, he begin speaking publicly for the first time about his belief in the "shared destiny" of Lebanon and Syria. This was clearly a bid to reassure Damascus that he would not contest its control over the country if given the premiership.
Syria's reluctance to hand poltical power to this giant gradually diminished and in 1992 they handed the country to him.
His appointment was met with enthusiasm by most Lebanese. Within days the value of the Lebanese currency soared by 15% as optimism swept the country. He had extremely close political friends in the United States, Europe and the Arabian Gulf.
He declared, the he would make Lebanon become the "Singapore of the Middle East". In an effort to attract foreign capital he slashed the income and corporate taxes to a simple flat 10% tax. he approached this effort in much the same manner as he conducted all of his businesses. Several key fiqures were put into positions of influence and decision making within the government. The office of Development and Reconstruction of Beirut's central district sold most of the downtown central property at 15% of its net worth. The buyer, a French company called, "Solidere". Now guess who the primary shareholder was! Yep! it was good on boy Hariri. Hariri and his business associates profited immensely from the project. During his tenure, he became Lebanon's largest real estate owner. He then started to purchase TV stations, Radio Stations, and Newspapers who as you might imagine, praised him just about every week for some project or charity program.
Hariri and his little group of "special friends" were not the only beneficiaries of this spending spree. In order to secure support from a motley strata of rogue militias in Lebanon, and special envoys that had been installed by Damascus he allowed kickbacks from public spending to enrich all major government fiqures. Some to the tune of $100 million dollars in excessive overruns. In the beginning the economic growth rebounded, and inflation went from 131% to 29%. The Lebanese pound begin to stablize. However, there was a problem. The economic boom was restricted to the upper class and politically connected. Increasingly, they begin to resort to coercion in order to silence criticism of the growing inequity that resulted from Hariri's policies. The demostrations started to become so bad, he started to rely on the Army to enforce the ban on demostrations.
The greatest gift that Hariri bestowed upon the Syrians came indirectly. He is reported to have channeled an estimated 3.2 billion francs to the political campaigns of the United States on friend, French President Jacques Chirac and Allies. (Yep! The one and same who is also connected to the Iraqi Oil for Food scandal)After this payment, it was to no one's surprise that Chirac reversed his predecessor's stance on the Syrian occupation of Lebanon, and then began a policy of appeasement for allowing Syria to stay in Lebanon.
However, in 1998 the economic condition of Lebanon was in shambles, and he was begining to become a liability instead of an asset.(remember what I said in a earlier post about International Friends vs International Interest) Lebanon's national debt was now $2.5 billion to 18.3 billion. The largest per capita public debt of any emerging market. Ironically, Hariri's connection with long standing fiqures in the Assad regime proved to be a double edge sword. Assad had died. His son had personally taken over the Lebanon situation and had decided that Harir need to go. He in turn installed Gen Lahoud as president and a new prime minister was brought in to try and save the economy. The new priminister started a "Anti-corruption" campaign that begin to target appointees and political allies of the former premier.However, everything was brought to a halt, when it became apparent the corruption probe would reveal certain involvement of Syrian Officials. Over the next two years, the country descended into a even more severe recession. In the fall of 2000, the Syrians began rebuilding their bridges with Hariri in advance of the 2000 Parliamentary elections. The elections, brought Hariri back into office again as prime minister. This time it was different. There was less fanfare, and their was little optimism, as his image as a miracle worker had been tarnished beyond repair. It quickly became apparent this would not be repeat of his old administration. Lebanon was now receiving intense pressure from IMF and the World Bank to under take the much needed economic reforms. He made the decision to reduce the bloated bureaucracy of politcal appointees, with most being placed by the Syrian government. Syria was the primary obstacle. This threaten to undermine the networks of the elite patronage employed by Damascus. On January 2, Syria was advise to stay out of the efforts being made by Hariri to solve the economic situation. Syria was also informed that the offices of Lebanon's Judiciary System and Security agencies were going to be taken over by Hiriri. Tensions between Hariri and the Syrians were now at a peak, and the worse since he begin his relationship with Syria.He also informed Syria there would no longer be any cross border operations by Hezbollah. He had his Newspapers to publish a story questioning whether Lebanon can any longer bear, "the consequences of such an operation and its political, economic and social baggage". He went further to state there would be no future provocations allowed from Lebanon. It is reported that Syrian President Bashar Assad went ballistic.
To put extra fuel into the fire, it became known that Hariri has recently been meeting with American officials concerning Iraq. By opening these private channels and by passing pro Syrian officials he had now set himself up as being an extreme libility to the Syrian government.
The end result was "Kaboom".
It is apparent, due to the reaction of the United States, they had come to some type of agreement with Hariri. He definitely was no saint by any means. However, due to the way middle east business is conducted, I am not sure if he was any better or worse than any other government official in that part of the world.
We as dinar investors should at least be aware this type of political musical chairs could also occur in Iraq. We as investors have no control, and just hope that for a change, events favor the Iraqi people.
Time will tell.

Carl,
I'm not sure who you are, but you are certainly a fountain of information and facts. I found your recent posts very interesting.

As for the NID - here's a good goal for everyone ...

It's general accepted that you can double your money every 5 years in the stock market.

I you want a realistic benchmark, something to pin your hopes on, hope that the NID will be 700NUD/1USD by 2010. That's a realistic expectation providing things keep moving toward a productive democracy.

You can read in Carl's posts how fragile and COMPLEX the situation is. Also, those who resist the "occupying infidels" will continue to send their suicide bombers, which will continue to put a real crimp on things. This is something that will take YEARS to stop, not weeks or months.

There are thousands of finatics with no other dream or asperation in their sorry lives other than doing Allah's work by killing non-believers so they can be free and meet their 40 virgins. They're very efficient too. 1 or 2 bombers to 30-50 victims. This is the reason we've read recently about the U.S. producing "robot soldiers;" there's no other way to combat suicide bombers.

Once again - REALISTIC GOALS for the NID are key.

This is going to be long, long process.

PLEASE remember this post:

http://www.albawaba.com/en/countries/Iraq/180144

This is a realistic goal IMO.

1200NID /1USD by 2006.

This will be a LONG and GRADUAL process. If you're a long term investor don't get caught up in obsessing over the "openning PEG" price of the NID. If you're an experienced currency trader and have bought and sold other currencies, all the power to you.

Remember - the ONLY ones who will make money onthe NID for the nedt few years are SURELY those who sell the notes to you and me.

The more hype, stories, information, rumors - the better. It's like any advertising campaign - good or bad, as long as it sucks you in and gets you to buy the product.

I'm very amused by the sites that now tout "Rare lower denomination dinars." Give it some time and low and behold, there will be plenty of those and all of sudden the higher value notes will be in "very short supply!"

If you ever see an info-mercial on american tv of the NID - sell your holdings as all cost. Ridiculous notion? Every time I think something is rediculous and unimaginable, is seem sot happen. And that would be like the shoe-shine man talking about Cisco stock. You know it's time to get out.

I don't think the NID is quite to that point yet, but it's a real pipe dream. But people are human and they have dreams. I read a lot about people'ss dreams on this board. Remember it's great to dream, as long as you have your feet firmly planted in reality the other 95% of the time.

ITS HARD TO JUDGE IF YOU HAVEN'T BEEN IN THEIR SHOES!
Remember in a previous post, I stated, I would give you some examples of things anyone who has the power to declare war, or sent their military forces into action has to consider.
First:
In this little example, you can be either the President, Secretary of Defense, Secretary of State, or one of our Generals. The position is yours for the choosing.

THE SITUATION
You have confirmed Intel that both Syria and Iran are allowing insurgents to move freely across their borders, into Irag to attack the coalition forces, citizens, and officials of the new Iraqi Government. Your information also includes the fact, that Syria and Iran both are also harboring some of the top officials of Saddams old regime. These individuals have formed a army of several thousand which are made up of Intel Officers, and soldiers of the old regime, along with a cadre of extreme Islam followers who consider anyone not a follower of Allah a infidel, and who want to render a just reward to such fools.
You have just reached an agreement with an adjoining country, to close their border against the insurgents, and restrict their movement. That leader has also told the insurgents to get out of his country, by Sundown, so to speak.
There is a big "KaBoom", and you no longer have that contact and agreement. Syria and Iran have now announced they are "engaged" and are now in the same bed together. They are now back in the drivers seat controling that adjoining country. You know that you have to do something, to stop the insurgents, as they are becoming a real pain in the A--, and impeding the progress of the newly formed Iraqi Government.
On top of that, they have started to openly goat you into doing something about it. The question is why are they goating the coalition? Why are they trying to make you create an overt agressive move toward them? Are they wanting to pick a fight? Are they looking for a cause or reason to invade Iraq, since its army is still not well trained and under strength? Do they think you are over extended, and do not have the men or equipment to stop them? Do they think that your citizens do not have the resolve to fight? Have they fiqured out that your congressmen would cry for you to pull out? Do they think they could invade, without the other National Security members getting involved?
Every bit of this is on the table. It is your job to know the answers before you make a decision.

What are your options?
(1)Immediately issue a warning to the two countries to stop or else.

(2) Attack the insurgents camps across the border in those countries, and call up more reserves if needed.

(3) Ask the UN Security to please make them stop.

(4) Ask the UN Security council to enact sanctions.

(5) Ask the local neighboring countries, and countries like France and Germany to get involved, in an effort to try and bring the fever pitch down.

(6) Muster your forces and attack the regimes that are causing the problem. Heck! you are already there why take over more two countries and solve the problem.

(7) Provide the citizens living in those countries with funds, and supplies to over throw the governments.

(8) Try and come to some solution, that removes all fear of the neighboring countries, of being invaded at a later date. Even after a statement has been put out, that your goal was to remove all tyranny in the world. Meaning their "little behinds".Other words, you have openly threw down the dove, and said, "We are going to dance big boy, either now or later"
Those are just some options. I am sure you can come up with many more. At the end, of this I want you to post "your solution" for the fun of it,so all can read. Lets see how many solutions we can come up with. Then as history unfolds itself, we will see who was correct in matching our leader decisions. Then will we all meet, we can have a toast to the winner.

THINGS YOU SHOULD KNOW!

First you start with the basics.
a. Emotion has no place in making strategy decisions.
b. Running away from challenges never get us anywhere and extended conflicts are not good for your position. As constant conflicts will lead to long term failure. Losing is terrible, but we can win the fight and still lose, as the fight has left us bloodied and weakened in the process.
c. The best weapon we have is the human mind. Using it will give us better options than a fight or flight reflex.
d. It is human nature to react instinctively when we do not know what else to do. Having a strategy allows us is take controlled, thought out steps that are correct for the situation, giving us an edge in the conflict.
e. Never focus on your opponents in conflict. Keep your focus on the position that you occupy, that is the key to success. Conflict is not a zero-sum game. You can win, without others losing. Defeating or surpassing our opponents can be useful, "BUT ONLY" if it improves our position. Beating an opponent does us no good if it leaves us in a worse postion than we were before.
The goal is to improve your position over time.
F. Even if you advance in your position, as the winner, you will always be confronted with new challenges. So You have to be prepared, and stay fluid.
g.Your opponents weakness are only relevant when they are matched to our strenghs.You make no assumption, and this is not long and drawn out.
What is your opposing leaders philosophy, otherwords what is their goal?,What is the weather like in the area of conflict?, What is the terrain like? What type of equipment and men can they move and what type can you move? Once your opposing force has committed, what methods to reach their goals do they usually follow? This allows you to predict their movements ahead of them.
h. Your position changes automatically even if you do nothing, because time advances uncontrollably. Your position will either improve or weaken over time, depending on the trend of the conflicts environment. It is important, you never change your major position until the right time. You must be like water. Fluid and able to fit into any terrain, flow freely and with speed.
i. You cannot gain knowledge unless you are a skill in listening. Use that information to take advantage of the opportunities your opponent gives you.
J. The entire point of positioning is to reap a reward. To move just to be moving is pointless and counter productive. Make all moves pay for themselves. Be aware it is possible to win a position and not be rewarded for it. Why would you move to another position if it only makes you weaker, regardless of the appearance.(example: a suitor may win the competition for his girl friend's heart, but in the end, have a unsatisfactory marriage.)
k. You can attack an opposing force without going into battle. Attack is simply moving into different positions.You never go into conflict unless you have the advantage, or you have placed yourself in a position where the opposing forces will back down, surrender or the opposing leaders are given the opportunity to come to an advantageous agreement for all. You want to avoid conflict of the armies if at all possible. Knowing regardless if you win, you still have suffered losses and it has weaken your position and strength. But also know sometimes this cannot be avoided.
l.Recognize your opponents goal. They want to stop your progress of reaching whatever goal you are trying to achieve.The purpose for any attack from you is not to defeat. It is to stop your opposing forces progress, in what they were doing. You have the capability to attack many different ways.
Each of these attacks will be very specific.
First understand attack does not always mean direct conflict.It can also mean simply meeting the opposing force.
1. Deception -the art of bluffing, simply spoiling an opponents foresight, and create loss of faith in their position. This then weakens their resolve.
2.Battle - this means to disrupt the opponents efforts, and ability to carry out their goal.(blowing up a pass to block vehicles or army, destroy warehouses of ammo, supplies, or cut off their ability to create capital for war)
3.Lay siege - simply surround a area and block off their ability to water and feed their Army.
4.Divide Opponents Unity. Create unrest within the ranks of the officers, leaders, soldiers, citizens,by planting misinformation. Create distrust of each other within the ranks. This weakens an opposing force within end, and takes away their resolve to continue on with their goal.
(a good example with us would be Ted Kennedy)
m. If you exhaust your nations wealth, you then quickly hollow out your military's ability to do what they need to do at the most critical moment.
Three things to consider in this. Picking wrong opponents at the wrong time, in the wrong place are bad ideas. But the most important risk is simply an economic concept. Movement of any kind will always have cost.But rewards of conflict is never certain. The key is to limit your investment,then you limit your risk. The problem is once the conflict starts, you have no control over cost until your reach your goal. In most cases it is going to be much more than you anticipated, unless you just pull out, as we did in Vietnam.
n. Your strategy regardless of what it is must be a process. You want to continually make small incremental improvements in your position with a goal of having each position pay for itself. Do not risk more than you can afford to lose.
o.Smaller forces move quicker and with less cost.
p. Speed in decision making is necessary. The quicker you come up with a goal, the quicker you can act, once your opponent leaves you an opportunity to advance your positon.The longer you delay in your strategy, the more likely you will miss your window of opportunity, and your opposing force will move into another position.
q. Understand conflict is not about a method of punishing enemies or winning bragging rights. (what bragging rights would we have a defeating a nation smaller that some of our larger states, or even Iran who is the size of Alaska) It is easy to get deep into a conflict and fight just for the winning ego, and create a cost that goes far beyond the benefit of the conflict.
r. The longer the conflict, the greater of the chance of failure.
NOW YOU HAVE MADE A DECISION TO DO SOMETHING THESE ARE THE FINAL THINGS MUST KNOW.
1. What is going to be the cost your decision?
2. Once started, do you have the ability to control the situation with strength.
3.With any reward uncertain, how can you reduce the risk.
4.What is your response to the possibility of failure?
5.Is there anyway to balance potential risk with the potential rewards of the action?
6. What is your difinition of success? Otherwords, what are you trying to achieve?
7. Understanding that foolish battles can leave everyone a loser, is it possible your decision will create a loss greater than the reward achieved from being the victor?
8.Recognize everyones resources are limited. Your opponents,and certainly yours. What do you have in the area you are going to be fighting in to support your equipment and men, if you are not able to get supplies to get to your army.
7. You must choose your priorities. You cannot do everything at once. Stay with those most important priorities. Be aware they will change as the conflict continues. People are inventive. Your Generals and so will theirs be. Everyone looks for the advantage, you will have losses and gains.
8. Be aware once the conflict starts, your military will eat up your resources like termites on fresh wood. Attacking cities are a nation drains your forces, remember you must keep the conflict short, or it will weaken your nation internally. Long conflicts hardly ever produce a reward, worth the cost. The end result will be internal conflict at home.

I THINK THAT IS ENOUGH FOR YOU TO THINK ABOUT.
"LETS PLAY"

Carl........ Y?

I was just wondering, Kuait dinar was $3.39 the last time I checked. During the time Kuait was occupied by Iraq, was their dinar taken off the world market? If so, when It was put back on the market, what was it's opening price? Or did it stay on the market and droped to a dime and after liberation of Kuait, climb back to current price?

Answer to the question why ?
I received two private emails wanting to know what was the purpose of the post title: Its hard to judge if you haven't been in their shoes.
I wanted to bring to the fore front the reality of the issues that face our leaders during a time of conflict. I wanted everyone to get the feel of just how complex the situation is in the middle east. It is not just about Iraq but the entire region.What we have done, has sent shock waves throughout Iraq's surrounding neighbors, and even the Arab countries who are assisting us in the fight, have been affected by this. We as investors, should realize the enemy is more than any specific leader of a group. That the newly elected groups of the assembly have their own plans for Iraq. Some have the goal of feeding their own pockets just like the politicians in Lebanon. Some have the goal of doing what is best for Iraq. Some have the intention of gaining for themselves or their group, and if Iraq is helped in the process ok, but that is not their top goal. I wanted you as a dinar investor to comprehend some of the issues facing our leaders, and what they have to contend with before acting on anything, pertaining either to the insurgents or to the newly elected assembly. By reading some of the issues in the post, it makes you realize just what is at stake, and brings into focus, that it takes time to develop and overcome these various problems which are going to face our leaders in the coming months ahead. Some investors on other forums are still thinking the dinar is going to increase in value, within the next 6 months.It would be nice if it did. But I bet you a hot dog, its going to be at least year to even two, before the dinar will make any significant move at all. I believe that most of the members of this board are now begining to understand this, and taking a realistic view of the dinar valuation. Our board talks about several different issues in the middle east because we realize that an event or person in the middle east region can have a drastic affect on the valuation of the dinar over night.
I read several forums, and this one is by far more realistic in their views.

As long as the suicide bombers keep plying their trade - forget about the NID. End of story. Yes - it's much more complex than just Iraq. But this is a simple and definitive truth. Until there is peace, the NID is going down from here. History shows it can be 10-20 years until real change takes hold. Curb your enthusiasm and you'll sleep more soundly at night.

Kuwait 1990

Due to lack of experience, some speculators thought that with the war over, the Iraqi dinar would strengthen like the Kuwaiti dinar after the 1990-1991 Gulf War. But the Kuwaiti dinar was always a strong currency and the invasion there was short-lived, unlike Iraq.

The answer is that Kuwait's exchange rate never actually changed much from $3.39 it is just that while occupied by Saddam, there was no official currency exchange rate for Kuwaiti Dinars, and they could only be traded on the black market.

The Kuwaiti refugees feared Saddam would permanetely cancel the Kuwaiti Dinar without allowing it to be exchanged for Iraqi Dinar and sold their KWD to speculators(soldiers) for $0.10. The speculators were taking a long shot bet that some country would step in and kick out Saddam from Iraq. Once that happened, there was no reason for the restored Kuwaiti government not to simply continue their currency policy where they left off. Since Kuwait allows its currency to trade freely it took a few months to convince all foreign speculators that the Kuwaiti economy wasn't permantly damaged, but then the KWD returned to its normal value.

-The Kuwaits infrastructure & banking system remained intact,unlike Iraq
-The government remained stable,unlike Iraq
-The GDP and Oil production resumed normal operations within 7 months
-The Government never officially devalued the KWD,the people lost confidence in the dinar and sold for USD at a lower rate
-The Government reissued the Currency in a 4th issue at the previous rate prior to Gulf War

Great knowledge yall,

The difference between Kuwait's take over and liberation compared to Iraq's current situation. Once thing that I did not see comments on are the backing the Iraq government now has. It is not just Iraq versus the insurgents and the surrounding countries, it is the entire world. We also should speculate on the economy once Iraq takes control of the oil. I'd like to hear from yall what you think as far as the support Iraq is getting and how that could power their economy.

Thanks,
Scooter

Thanks red, that answers many questions. So people who use the Kuait dinar situation to sale Iraq dinars are really just lieing. The situation is totally different in iraq.

I'M IN IRAQ BUT CANT SEEM TO FIND A IQD CONTACT TO PURCHASE AT THE EXCHANGE RATE. $1000.00/MIL IS BEST I CAN FIND FROM LOCAL VENDER.

WHERE CAN I FIND IQD AT EXCHANGE RATE?

EMAIL ME PLEASE.........anybody!

paul.marino@us.army.mil

paul:)~

Michael:
Some Dinar sellers are difinitely stretching the facts to push their Dinar product.
Some individuals just are totally unknowledgeable about Kuwaiti currency and how it is different from the Iraqi Dinar. Therefore, they are just like parrots, they repeat what they hear, without even bothering to do any research. Some just love to live in the clouds.
Lying might be a strong word for most.But belief in the Iraqi dinar, and its eventual increase in value is a common trait among all, including myself.

Now here's the kind of thing we love to hear more of.

We don't care how they do it, just do it.

Get them back on their feet.

Get that economy cranking again.

In a sad way, we're creating the next Bin Ladin :(

Tough situation.

http://story.news.yahoo.com/news?tmpl=story&cid=564&e=12&u=/nm/iraq_sunni_talks_dc

Thanks Carl.........

Carl,

Finally, found the site ... I must say I am quite impressed with the depth of your knowledge of the situation in Iraq and our play on the dinar. I have been reading up the posts to catch up. Also, I will show Traci as well.

Have a good one, man.

Bryan

Carl,

Finally found the site ... I must say I am quite impressed with the depth of your knowledge of the situation in Iraq and our play on the dinar. I have been reading up the posts to catch up. Also, I will show Traci as well.

Have a good one, man.

Bryan

Thanks Carl, sure I was one of those Parrots, LOL. I know nothing about investing in currency. I got into this deal because My uncle and cousin came back from Iraq with this outstanding opportunity. Sure I still have faith in this investment, There is no way a country with as much "Texas Tea" sitting just below the ground, is going to remain one of the poorest countries in the world. We are going to make a lot of money from this investment, I know this in my heart. It is just going to take some more time.

Iraq has many things going for it economically, including its huge oil reserves, and maybe even more importantly its large water supply. In the long run there is a huge upside on the dinar, and I think the people have reached a point this weekend where they are fed up with the insurgents. The peaceful Sunni now want to get involved with the government, they realize if they don't they will be left out. Also - the IOD does not need to go as high as the Kuwait Dinar for us to make a lot of money. Even if it hits 50 cents in the next five years the pay back will be huge!

Red!
Thanks for the information. I am glad to know what external and internal influences drove the kuwaiti currency to respond as it has and did. It gives me a better understanding, when someone is comparing the kuwaiti dinar to Iraq's.

Paul Marino
Paul the answer is simple...your not!!!!!!!
Think about it. If you bought a candy bar for .10 and then sold it for .10 cents what is your profit.
The is answer is you simply went in the hole.
The soldier, that I used to buy from in Mosul,shopped several different dinar merchants. Like any other business, each had a different price.But most important, find one that you can trust and rely on. The best price I found 6 weeks ago was 1.3 million dinar for $1,000.00. The price on the street is going up almost every week. It is my understanding, that rate is no longer available.
Buy the Dinar in country. It is still cheaper than state side. Don't begrudge the merchant for making a decent profit. After all, he is taking the risk of getting his throat cut just for dealing with you, as you well know. We have loss two dealers in 3 months that way.

I talk to people almost daily in-country
Baghdad-Green zone-international zone

Khifa(st) market price is 1450-1400 tops
Paying 1000 in Iraq is ridiculous
you are getting scammed

From another web site

according to my girlfriend, a merrill lynch broker, the dinar will open in march @ .30. no specific date in march, just march 2005. i put this in the rumor section because no i don't any proof besides her word in the heat of passion. we have several million dollars worth together.

Doug:
I don't know if I would have expressed her rumor totally that way. But! I do like how you think.

John:
I broke it down, before I bought. 1.3 million comes down to $.0008 per dinar/$769.23 a million.
or 1300 per dollar. 6 weeks ago in Mosul, the price was 1400 per dollar. But no longer. Our traders ain't setting in the "Green Zone". The difference between 1400 and 1300 is .0008 x 100 = 8 cents.
As a matter of fact in Mosul, most traders have shut down completely for now, due to the danger of trading with Americans. I'll let you know when they open back up, and we will look at the in country price at that time, for Mosul. This will give everyone on the board, a idea of how to measure state side dinar prices to in country rates. This also will give the state side buyer, the range of profit the dinar dealer is making and how to bargain if they wish. Folks! its like trading cars. The asking price is just a starting point,not what you want to pay.
Carl

GENTLEMAN "SWING YOUR PARTNERS" AND "DOE SI DOE TO THE RIGHT THEN TO THE LEFT".
Now some of ya old folks will recognize that title as "A barker's call at a square dance".
The dancers never stop, always in motion, always swapping partners depending on the call. Let me show what I mean.
Earlier before the Iraqi election, the Sunni's stated. "they would not participate in the election, that it was a sham, and as they say in the SOUTH "we just ain't going to do it".
Flash forward: Feb 20, 2005.
The Sunni leaders in Northern Iraq are now stating it was a mistake not to participate in the election.It has left them in a weaker position, than they were before. The Sunni population is furious with their leaders in certain areas.It is believed that most will be replaced. Their decision to go along with the insurgents and allow them to intimidate the sunni citizens who wanted to vote was a major miscalculation.
You now have one of the most respected "Sunni" organization in the region, publicly rejecting the insurgents, and telling the local sunni leaders to shut them down. What happen? Simply the "conflict environment" changed, without the sunni's doing anything, and now they have new challenges to overcome.(stop! for those of you have not read the post titled, Its hard to judge unless you have been in their shoes, go read it now. It is dated the Feb 19, 2005. This will allow you to understand the following written below.
SWING YOUR PARTNER
The US and France have been in a "Partners Quarrel" since we took away " The Iraqi cow who was giving them milk behind the barn." or was it something else they were getting behind the barn. You know how those French are!
Now! Another golden cheese giver of France's was given the opportunity to "Scatter into the wind, as some say", with the blowing up of the ex-lebanon prime minister. Chirac, as I had posted earlier, had received "mucho coins" from this guy. After all, he owned the largest construction company in France, and was one of the largest government contractors in that country and in the middle east. He was also one of the largest political contributors to," The Old Wine Swillers Club in France". Before, the Lebanon prime minister left "suddenly" Chirac was the leading cheer leader of the Syrian Government in Lebanon. NOW leading the battle is,the French President Jaque Chirac, which is supporting the Lebanese opposition effort to unseat the pro-Syrian government of Lebanon. Recently on 2-19-05, he visited the family of Rafik Hariri in Lebanon, who was a "long time friend". He did not meet with any pro-Syrian Lebanese government official while there. As a matter of fact, he rebuked them when they tried to set up a meeting. Now in the middle east this is like someone coming into your home to vist someone in an adjoining bedroom. while there they refuse to even speak to you in a hallway passing, or in the South, this is like telling another hunter how ugly another hunter's favorite dog is. It tends to chap between the hind cheeks.
France is calling for the removal of Syrian troops from Lebanon, and is spurring a "peaceful uprising for the citizens to take their country back" An holy of all holies, Chirac and President Bush are having a meeting this week, in a lets "kiss and makeup session."
What caused the change in France? Mutual International Interest. Nothing else. Motive: France is ticked because they have loss a benefactor of coins, and want the Syrian Government to get a butt kicking. The US could give a rats about Lebanon or what is going on over there presently, except for one thing. Syria has given the Coalition an opportunity to put the pressure on in Lebanon. Why do we want to do this? Because, Syria and Iran are the main supporters of the insurgents crossing into Iraq. If we put the pressure on in another area that syria cares about more than the insurgents, they have to decide, whether to continue the support, or pull it and get the elephant off of their chest so they can breath again.Do we really know if Syria was involved. Who cares. We don't. It is immaterial. In "INTERNATIONAL RELATIONSHIPS" "reality" is unimportant. What is "perceived Reality" is what is important. If the Coalition can make the local citizens or internation community press believe Syria was involved, then the pressure is on. Let me show you how its been done so far.
On the day, the Lebanonese ex-prime minister was dispatched, we pulled our ambassador immediately for consultation. Now! in the International community, this gave a indication, that we knew something about Syria being involved whether we did or not. We didn't have to say it, we simply inferred it, and that is just as powerful. Then in a statement from Secretary Rice we get the following," Syrian backed militant groups are "TRYING TO LITERALLY TO BLOW UP THE PROCESS OF PEACE" this was no accident, In the Covert world this is called the "psychological set" It is simply the planting of a seed of suspicion. Now it has to be watered to make it grow and become words and deeds of the local lebanese citizens. Here comes the water twice in the following statements, On Feb 17, 2005 Secretary Rice states in another press conference,"Syria's problem is not with the United States but with the International community and with the Lebanonese people"."Syria is attempting to destabilize the environment in what is a developing democratic process in Lebanon"
What the Lebanonese people heard was, you mean we have a chance at democracy here like Iraq.We have thought about it, but felt we couldn't do anything. Maybe other groups are moving forward in this effort, so lets join them. The result is mass demostrations in the street telling the Syrians to get out. We want our country back.(emotions are now hot and,logic has been put on the back burner)
Now here comes the carrot in another statement from secretary rice," That while we have pulled our ambassador, things are open ended at this time" meaning, we have the door open Syria. If you want to talk secretly, now is the time to do, if you want to keep the Eagle from Shi---- on your head.
The goal of Syria is to get the pressure off. The Coalitions goal is not to reform Lebanon. We don't need any more causes at this time. We want to make Syria feel the pain, by making them take there limited resources and use them up in the uprising in Lebanon.( A weak financial country cannot stand the drain over a period of time, and they are suffering financially)If they do this, then the support lessens and even dimishes toward the insurgents. They know the way to remove the pressure is to remove the support of the insurgents.This in turn improves the internal security in Iraq and allows the Iraqi government to go forward faster with the reconstruction of Iraq. This in turn stablizes the Iraqi Government, increases their financial position, and now raises the value of the dinar. Which come back to us as investors.
You see what plays out in the international arena is like a dramatic play, with several different twist. I find it better than watching movies, as it is history presenting itself in all of its glory and you are the both the observer and spectator as an "dinar investor.
And the script continues...

I liked life much better when I didn't know what a Jihad was.

Paul:)~

I liked life much better when I didn't know what a Jihad was.

Paul:)~

HELLO ALL
JUST GOT BACK FROM VACATION IN OREAGON. IT WAS VARY NICE THERE AND GREEN OF COURSE. I WAS IN THE COOS BAY AREA ON THE COAST. I HAVE BEEN READING ALL THE UPDATED POSTS AND AM VERY GLAD TO SEE THAT CARL IS STILL GOING STRONG. KEEP UP ALL THE GOOD WORK ALL . I ALSO WANT TO WELCOME ALL THE NEWIES . LOTS OF LUCK TO ALL.
RON

Hey! Ron!
Wondered where you went. Glad you got back safe,and able to get back contributing to the board.
Haven't seen a post from Terrace lately. Terrace hope things are OK with Ya.

According to the International Economists who recently attended a forum at the ICEG - Two factors will drive the value of the NID when the ICB pushes for entry into the free market world economy . Those factors simply stated are:

1) Oil Production Capacity at 80-85%
2) Stability, Security, and total Independnence of the Iraqi Gov't

According to the ICEG, the Iraqi Dinar will rapidly gain strength within "months". They are defining rapidly in exponential terms saying strength to the NID under the above conditions would be "inevitable". Their projections, though dramatic, are realistic. They see the Dinar gaining in strength to a range of .10-.30 within 6 months of the above conditions coming to pass provided free market access coincides with those events.

What does that mean for us? Rev up the jet engines - I'm heading for Jamaica!! Are we still on?

As long as the rumor mill is churning, the one with the most realisitic sound is 1USD/700NID within 4-5 years
with a slow and steady appreciation.
Keep posting - great stuff.

Tips on the NID

1. Don't go around telling everyone about your barinstorm invesment idea. That way you won't look bad if it doesn't go as planned.

2. Don't think it's impossible for it to go bad.

3. The new Bremer notes are successively smaller in measurement as the denomination decreases.

4. If you think the NID supply is drying up, just go to ebay and look at what's available.

5. Only use money you can afford to LOOSE. Don't go into hock to by the NID.

6. Set realistic goals.

7. You will ONLY know when this currency starts to trade on the day of, or at most a day before it starts.

8. You will ONLY know the price it begins to trade at the day it starts to trade, NOT BEFORE.

9. Try to refrain from daily check-ups on everything goin on in Iraq. When the important things happen, you'll know about them.

good luck

Joeyd said;

7. You will ONLY know when this currency starts to trade on the day of, or at most a day before it starts.

8. You will ONLY know the price it begins to trade at the day it starts to trade, NOT BEFORE.

you might want to get better connected to your sources or get some sources for intel :>))

Looking for Soldiers/contractors stationed in Balad/Anaconda who have already purchased IQD. I would like to email/sit down to discuss the topic.
I haven't been here very long. I would like to know where to get the best deal on IQD.

paul.marino@us.army.mil

Interesting thoughts from a realistic thinker ....

Some might want to dispute a statement like "The Iraqi economy will fail if they have a worthless currency" however currencies are measured differently, look at the Yen (JPY), right now, you can get 105.580 yen for one dollar (USD). Does this mean the yen is worthless? Of course not, you just need to spend more yen to get a product. It is just like with stock splits, you have double the shares of stock at half the value. If you have a pizza, the amount of slices you cut it into does not affect the amount of pizza you have.

We believe that Iraq will reach par with the other countries in the GCC Gulf Cooperation Council and will probably exceed the average to become one of or the richest counties in the region. I am not a naysayer, but provide this prediction to temper some of the wilder predictions. We would love to have the NID be worth $3 (USD) each, but think that is extremely unlikely.

So lets say that in 3 years or so Iraq is all fixed up and raises it's GDP per capita to the average of $18,000. This should raise the exchange value of the Iraqi Recruit's pay of 420,380 iqd to the equivalent of $18,000 (USD) per year or about $1,500 (USD) per month. When we convert it back to dinar, we can say that the IQD currency appreciated relative to the dollar so that the new exchange rate is 1 iqd = .00356 usd. At this point, each million dinar will be worth $3,560 or a roughly 500% gain.

Now in 5 years, I think Iraq will be on par with Qatar which is currently the richest country in the GCC, so let's peg this to a gdp per capita of $33,000. This would make the recruit's monthly pay exchange value equal $2,750 usd. When we convert it back to 420,380 dinar, the exchange rate equals 1 iqd = .00654 usd. This would make every million iqd worth $6,540 USD or about a 1000% gain from today's levels.

Remember that these are excellent rates of return, where else can you get 100%+ returns per year!

This analysis is tied to our firm belief that the Iraqi GDP per capita will reflect that of the other rich oil countries in the region. In order to make this analysis incorrect, Iraq will have to undergo a period of MASSIVE DEFLATION of the Dinar and the price of goods. They can also truncate the zeros from the dinar to bring it to a symbolic par value with another currency such as the dollar or Euro. Some change will have to happen, there is no way that a low level army recruit will be making an equivalent of $430,380 US dollars per month. Therefore I do not agree with those who suggest that one day we will wake up and have 1 IQD = 1 USD. Therefore, we agree that to have an exchange value anywhere near the value of the USD, there will have to be small denomination currency, and will add that there can't be first-year army recruits making 5 Million per year!

Food for thought -

Let me reiterate the best point made on the previous post;

If the fantasy of the NID openning up at .30 IQD / to 1USD were to come true - soldiers working there would become rich and leave. It ain't happening folks.

It's imperative to view the NID as a novelty item for now, and an investment with a time horizon of 10-20 years.

The best way to actually make money now (and for the next few years) on the NID is to invest in betting large quantity of notes and auctioning them yourself.

Joe:
Solid Thinking! Sounds Plausable!
Can ya pass the salt, Pepper, and tabasco? I have the desire to want to spice it up a bit.It is not sizzling as the other food for thought, I found on other forums.

Better hold off on the hot sauce! :(

Unfortunately - it will be a few years before this story is good and spicey! And to reiterate - the ones who will make the real cash-money (folding american dollars) during the next 3-5 are those selling the "bundles" of "crisp uncirrculated" bills. - Just a hunch.

WE ARE READY TO WORK WITH YOU!
MARK THIS DAY, as these are the words that were spoken on Sunday 20th Feb, 2005 by two insurgents who have been appointed to setdown and talk with the Coalition and Iraqi Government.
As I have stated in earlier post, the conflict environment is always changing, presenting new challenges. The Enviroment has change swiftly in the past 4 days.
Change One: The call came in the middle of a busy morning in the command center. The words sent an immediate redirection of that day's activities in the center. The message was simple and direct. "We Are Ready To Work With You" It is first time since the conflict begin, the coalition or Iraqi Government has had any "direct" communication with any insurgency leadership. This single phone call may have set in motion, changes that will rapidly increase the reconstruction time of Iraq. The Insurgency was offering to openly negotiate a settlement to stop the fighting in Iraq.
The meeting was set, and it took place inside the Green Zone in a well defended bunker. The Iraqi negotiator was a middle age former member of Saddam's regime. The representatives of the self described nationalist insurgency, sit on one side of the table. He was directly facing two members of the coalition command. As the negotiator speaks the officer is rapidly writing his notes, as the insurgent goes through a list of demands they want met to stop the bombings and attacks. When he is through the Officer goes through his boiler plate of demands and the insurgent writes them down.
The Insurgent, who is also a ex-member of Saddam's Baathist regime, states, the Shia elected government is being controlled by Iran.( He has made a solid point, I will cover they mean in a future posting) It was the first meeting, and beyond generalities nothing else is discussed. But the meeting has changed the mood in the command center to one of optimism, sprinkled with caution.
The meetings are being conducted by Intellgence officers, U.S. Dipliomats and present Iraqi Officials. Officially, the U.S. states they do not sit down with insurgents. However, it is a "FACT" they have joined the "back Communication" channel to attempt to end the street fighting and continous bombings. What has brought this on so suddenly? Is it because of the pressure the U.S. place on Syria in Lebanon, and Syria has told the insurgents, you better settle things quickly, because you are about to be leaving our territory? Is it because Iran knows they now have a shoe in the door with the Shia list, and feel conflict is no longer necessary, and the rest can be done by politicians?, or has there been a major breakdown and in fighting within the ranks of the insurgents themselves?, Maybe the Iraqi Government and Coalition forces have either captured, or killed so many of the insurgent leaders they feel the end is near? I think it was a combination of things. The high voter turnout last month was a major blow to their moral within the ranks, which caused a lot of the fighters to leave the ranks. The complete shut down of the city that made them impotent in their attempts,and indicated they were losing the battle. Add the above reasons listed, and we now have "Lift Off".
This group does not include Al-Zarqawi's Group This group is mainly made up of Sunni's and ex-military officers and soldiers. The U.S. and Iraqi Government knows this group is following the model of Sinn Fein, the political wing of the Irish Republican Army.
CAN THIS POW WOW SUCCEED?
The idea situation is they get everything on their list and the Iraqi Government gets everything on their list. But we all know this is not going to happen for either side. The trick is to meet somewhere in the happy middle, where each side feels they can live with it.The Problem: the newly elected assembly including, the new prime minister and president has not even been identified. So can they put their blessing on something they are not ready or organized to do?
Regardless, the U.S. is saying, it has to be the New Government Officials to make the deal. Another problem, is many of the elected officials in the newly assembly was brutally tortured, and many family members killed by the same guys that want to "now" set down and come to an agreement. As one senior official stated, yesterday. "The Iraqi's are the solution to the insurgency, and they are the solution to our departure".
Jordanian intellgence officers have now gotten involved. However, the insurgents refused to go into Jordan for a most recent meeting.
One of the sticking points on the insurgents list is they are totally solid they do not want any leader in the new government to be someone who went into Iran, and now has come back to rule. They want a guaranteed time table for U.S. withdrawal, and more UN forces to replace the Americans. They would accept, American bases in Iraq, just as Germany, Japan, and other countries have. However, they would be classified as guest in their minds. This has brought on danger to the insurgents, as Al-Zarqawi's group, has a record of killing any nationalist who want to negotiate with the Coalition and Iraqi Government.
FLASH:
THE LEADERS OF THE NEWLY ELECTED PARTIES HAVE JUST MADE A STATEMENT. "THEY HAVE NO INTEREST IN CONTINUING THE DIALOGUE WITH THE INSURGENTS" THE VOTERS GAVE US A MANDATE TO "DESTROY THEM" NOT NEGOTIATE!
The U.S. is now heavy in the back rooms, trying to convince the newly elected leaders otherwise. Dealing with the arch enemy Baathists, knowing what they have done is a hard meal to swallow, but did I hear someone say, " Pass the sugar Please"

Change Two:
EVERYBODY WANTS TO RIDE THE WINNING FLOAT!
Kofi A. Annan, our buddy,our pal,our benefactor, our savior, our "back stabbing bastard" now has a change of heart. He has seen the light, or maybe just like a deer in headlights, he sees and hears the approaching U.S. 18 wheeler that is about to run over his little bannie butt. Yep! the same one who said, we illegally invaded Iraq, that refused to send in UN support troops even to clean coalition latrines,(Well! at least they should be good at something, that said our troops should not be involved in protecting the Iraqi polling places, the same little sucker who has a son so deep up one of the companies as-, who was taking food for oil brides, that he needs a miner's lamp. Glory be! I'm going to give him the prettiest sheep I can find, after all I understand he has a harem of them. From his mouth to your ears, " The success of the Iraqi election has created an exciting moment of opportunity for the Iraqi people.I am determine that the United Nations will play an important role and do its part to make sure that the newly formed Iraqi government is successful in achieving their goals. I want to capture this moment, and send an invitation to all of the international community to come together around Iraq through the United Nations. We are proud of our assistance we have given Iraq, as it has helped them develop their political base for their successful election.(remember! they wouldn't even allow any UN personel in Iraq during the election process, and kept them in Jordan, because they might get someone hurt)
We (meaning the UN) will see that the new constitution will be a Iraqi constitution, and will bring solidarity to all Iraqi's. If they ask our advice, I believe they will, the UN is ready and able to provide our experience and expertise. (just like they did when 500,000 got slaughtered in the Tunsi war, as the UN soldiers were not allowed to protect them, or the wonderful concentration camps they would not prevent from being built in Kosovo) We can do many things outside of the country for Iraqi.(lets list them here, 270 countries involved in Food for oil bribes,of which France, Germany, Russia were the main palm greasers, in which millions were stolen. No wonder they wouldn't go alone with the U.S. to remove Saddam!), use the iraqi money set aside for the food for oil program to investigate the scandal, shall I go on?)We know that it want be easy to go forward in Iraq. After all they have a "tortured Past", (Gee! Anan maybe you could have used another phase here?)
Excuse me Uncle Sam said, as he looked behind at our old friend Kofi, I thought I felt someone's "Nose" in my crack.

I AM GOING TO BE SETTING UP BANK ACCOUNTS IN IRAQ SOON, IS THERE ANY DANGER IN THIS, NOT AS FAR AS LOSING MONEY I INVEST IN THE NID, BUT AS FAR AS MONEY BEING TAKEN OUT OF MY AMERICAN BANK ACCOUNT WITHOUT MY KNOWLEDGE? ANY INFO WILL HELP, HAS ANYONE HAD ANY PROBLEMS WITH SETTING UP THEIR ACCOUNTS OVER THERE?

ONE MORE THING REAL QUICK. I HAVE OVER 1 MILLION NID IN MY POSSESION, WHEN I SET UP ACCOUNT IN IRAQ, IS THERE ANY WAY TO GET THESE INTO THE IRAQI ACCOUNT, OR DO I HAVE TO GET RID OF THESE ON EBAY AND THEN JUST TRANSFER THE AMERICAN MONEY TO MY IRAQI ACCOUNT. THANKS AGAIN

TOMMY!
If you are state side, you need to really research setting an account in Iraq for purchasing dinar. There is a earlier post about two weeks ago, that stated one of the banks setting these accounts is under investigation. I don't have enough knowledge about Iraqi accounts or the supposely on going investigation to give you any advice.
As far as selling on Ebay. It depends if you just buying the dinar to resale immediately or keeping as an investor?
Good Luck on your adventure!

THANKS CARL, I WAS PLANNING ON KEEPING THE NID THAT I HAVE IN MY CLOSET FOR A COUPLE YEARS, BUT I HEARD THAT YOU COULD GAIN INTEREST IN AN IRAQI ACCOUNT AND IF THEY EVER CHANGED THE BILLS OVER TO SOMETHING NEW, IT WOULD BE DONE AUTOMATTICALLY FOR ME BECAUSE IT WOULD BE IN AN IRAQI BANK ALREADY, WHAT IF THEY CHANGE THE CURRENCY OVER AGIAN TO SOMETHING DIFFERENT? IS THE NID THAT I HAVE IN MY POSSESION ALREADY GOING TO BE TRASH? OR CAN I TRADE IT IN SOMEHWERE? I APPRECIATE YOUR TIME, THANKS AGAIN, TOMMY

Tommy!
They are not going to do that. Promise. This would totally destroy any confidence the international community has in them. This happens, and they dead in the water. Too many banks and other investors own the present dinar.

Tommy said;

I AM GOING TO BE SETTING UP BANK ACCOUNTS IN IRAQ SOON, IS THERE ANY DANGER IN THIS, NOT AS FAR AS LOSING MONEY I INVEST IN THE NID, BUT AS FAR AS MONEY BEING TAKEN OUT OF MY AMERICAN BANK ACCOUNT WITHOUT MY KNOWLEDGE? ANY INFO WILL HELP, HAS ANYONE HAD ANY PROBLEMS WITH SETTING UP THEIR ACCOUNTS OVER THERE?

----

In Regards to setting up Bank Accounts in Iraq
Presently the Bank will require you to be in Iraq to open an account
The Laws are that to open an account in Iraq you need to be 'in person'

I have inquired to NBK(credit bank) and Gulf bank
and they informed me that present CBI Law is very clear on this

If another Bank tells you this is possible
i.e.; opening an account by email or Fax etc
they are not operating within the Law in Iraq
and would be questionable,as to being legit
you are risking a great deal when sending USD
to a bank as this

red and carl,

thank you very much

HI ALL
ONCE AGAIN THANKS TO YOU CARL FOR ALL THIS INFORMATION THAT YOU GIVE TO ALL OF US. PLEASE KEEP UP THE GOOD WORK.
GOOD LUCK TO ALL
RON

Regarding Debt in Iraq:

http://www.jubileeiraq.org/timeline.htm

QUICK QUESTION, I WAS JUST LOOKING AT MY NID, I HAVE 10 $10000 DINAR I JUST RECIEVED. TWO OF THE TEN HAVE THE SAME IDENTICAL SERIAL NUMBER ON THEM, THEY ARE RAISED UP, I GUESS LIKE THEY SHOULD BE, IS THIS POSSIBLE? OR COULD THESE BE FAKES, HOW DO YOU SPOT FAKES, I RECIEVED FROM EBAY, FROM SOMEONE WITH A LOT FEEDBACK, ALL POSITIVES, THANKS TOMMY

NEVER MIND ON LAST QUESTION, I AM AN IDIOT.
UNDER VERY VERY CLOSE INSPECTION, ONE OF THE DIGITS WAS SQUARED OFF AT END, AND ONE WAS MORE POINTY, VERY HARD TO TELL, THANKS TOMMY

I just wanted to take the opportunity to thank all of you for contributing to this site. I find it very informative.

There have been many comment here that have sparked a couple of questions.

What is the best way to go about exchanging my 25,000 notes into smaller notes? I don't want to stuck with them.

Also, I want to buy some more dinar and am looking for the most reputable dealer. GIDAssociates is by far the best online price I've found. Are they legit? Can I trust them?

Again, thank you all for your contributions.

I had another question. It is specifically for John LaRue. I wondered if you have seen anything that makes you either remain confident, or lose confidence in your .16-.26 by June theory? I get goosebumps when I think of it, so I was curious.

Thanks

To Dave A -
This is known as the "LaRue Scenario" to the NID crowd. I don't want to speak for Mr. Larue, but I believe he remains very bullish on his previous projections for June. As you may or may not know I am one of the few in this NID game that has bankrolled everything to purchase truckloads of Dinar based on the Larue Scenario. I've never met John, but his data is solid and there is a confidence that flows from his writings. I am counting on his scenario to come to fruition. If not, I will just sell my Dinar back at market price and call it even and say I tried. But if, or should I say when, it does happen...well - Let's just say this - if his scenario is true I stand to make multiple millions of dollars many times over.

That is why Jamaica will be on me!!

Terrance,

Thanks. Where did you buy your truckloads from? As I said, I want to buy more, but I don't want to get scammed.

P.S. Why Jamaica? How about Hawaii instead? :)Normally I'm not a big traveller, but if it's on you, hey why not. ;)

Well guys, Im just a guy from Alabama, but I really dont think it will be as long as 10 to 20 yrs before something happens with the dinar. Iraq is trying to develop a democracy now. I think they will want to make a big statement to the world and it's people. Why would they want their currency to be worthless on the world market? I kinda lean to the "LaRue Scenario" for the dinar. I dont know if it will happen in June, really know one knows, but I feel when an official president is elected in October, It will affect the dinar dramatically. God I wish those insurgents would just go away, they are really holding back things now. Myself, I think 2006 will be the turning point for the dinar. I would love nothing more to see Iraq start living in a free democracy, and see its people freed from bondage. Well just what I think guys, Thanks

Dave -

"truckloads" is more a figure of speech - Suitcases full might better describe the reality of the situation. I used GID Associates. They ran out of dinar currency a few weeks ago (I think thanks to me) and had to wait for more to arrive. I heard some people were a bit nervous because their orders were taking a while to get....that was my fault I guess. I've had many people use GID and never had a problem - and they tend to have a fair price.

As for Hawaii - I am taking your idea and running with it. Hawaii it is - Jamaica has a feel of non-stop hedonism. Hawaii sounds better for my kids. A little slower, relaxing place. Maybe Kaui. Is everybody up for a change of venue? Red, Joe, Carl, John, Tommy, Chromeman, and the rest? Chime in and let me know if Kaui works. Get your surfboards waxed and ready to go - if you don't surf want lessons I'll teach you. All we need now is the Dinar to do its thing....

Hey everybody I have been following this site for a while now, Lots of informative info coming out of it. I got on the Dinar train in December with 1,000,000. Would like to purchase more but need to remain conservative, (living on a military income). Just wanted too say thanks too everyone for their insite especially Carl.

Terrance,

Thanks again. I had heard GID was good, but wanted to verify it before I purchased any. As to your thoughts on Kaui, if you are paying, you have full right to choose the island. I like your idea about family friendly. It will be some celebration! I'll pray for sooner rather than later, but am prepared to wait it out.

Still looking for someone to advise me on trading in "25,000" notes.

Dave A

I second Kelly's sentiments - Carl is a class act.

Kelly - God Bless you and all military personnel both here and abroad - our all volunteer armed forces are hero's and deserve our gratitude and thanks. The star and stripes and the freedom it represents has been bought and preserved at a steep price - So thank you.

ps - Count yourself in the the free trip to Hawaii, which is on me, for you and your family (or friends) once the Dinar rises into the Larue Scenario ranges.

Dave A.
I used GID to purchase my NID, received them in 3 days COD, several friends also bought through them with the same good service.

Terrance
Thanks for the good words and thoughts, also the invite, I look forward to meeting everyone not if but when the NID takes off!

Kelly

Hello Carl - I have really enjoyed reading your postings. Would you be willing to share your opinion on what you think will happen to the price of the dinar when it opend on the international market. I am just curious about what you think? Thank you. Buck

carl great posts.i have a question ?the afgan is at .02 it made a big jump as well.is it a international traded currency?and they dont have a thing.

TERRANCE
I HOPE THESE POSTINGS ARE RIGHT ALSO.
WE WILL ALL GO ON A LONG VACATION WITH FAMILY.
RON

TERRANCE
I HOPE THESE POSTINGS ARE RIGHT ALSO.
WE WILL ALL GO ON A LONG VACATION WITH FAMILY.
RON

SORRY STILL IN THE LEARNING STAGE OF TYPEING AND POSTING HAVE NEVER DONE ANY OF THIS BEFORE I AM OLD OLD SCHOOL.
RON

Hey! Guys!
Thanks for all of the kind words said about the postings. The information covered in my post are gathered from several different sources, then broken down. The opinions expressed about the information gathered is my own. I try to take the material and add my brand of humor into the postings just to make ya smile. My opinion has no more value than any other individual who is contributing to this post. I respect everyone's opinion and sometimes may throw some things back at ya, but it is always done with warm heart toward what that individual contributed.
Buck, I could give you my opinion on a certain subject, but it is just that. It carries no more value than anyone else. so! I am hesitate to put forth something that a individual may consider unfalable. I read a lot about the middle east and their culture, to get a flavor of the environment and how the people in those areas think. As you know religion plays a major part in their lives. They will follow the Shria Laws before they will the civil laws. We must understand their consitution will not be like ours, nor will they operate as we do in the West. This is why it so difficult to predict what they are going to do in the future. After 24 years of law enforcement, and being an ex-homicide investigator with the Sheriff Dept, I have a natural urge to ask the who,what,when,where and how,about an event or find out about the background of a individual who is going to effect our investment. As investors we owe it to ourselves and to the members of this board to gather as much knowledge as we can about any events or individuals that will either increase or decrease our investment. Presently, I am doing research on the world currency market. I am trying to learn what causes a currency to either increase or decrease. What trends do you look for in a country that you hold some of their currency in. When should you get into the market and get out of the market. The currency market has a trend that is predictable, and a lot of money has been made trading currencies. George Soro's became a billionaire from the currency market. I will pass this learned information on to the members of this board, so not only can we make money off of the dinar, but also off of other countries currency. After all when the dinar is put on the Forex Exchange this is how you will trade it, unless of course you want to go straight to a bank and swap it out.

Carl and all here is a good explanation on how
you would sell foreign currency that you hold in handi.e.; Hard currency
and how it relates to forex and your converting to USD at banks

http://www.investorsiraq.com/showthread.php?p=40590#post40590

participating in Forex is whole other ballgame
most will let the banks handle this part
within their network

Thank you Carl and John, I respect your right to share what is relevant for you, within your comfort level. I have somewhat of a methodical mind for investigation myself. I am fairly new at this game, but am learning rapidly, and I hope to learn much more. This forum is a great place to learn, and share information. I am grateful to all of the contributors for what they have to present.

Follow the pied piper of buying the NID!

You cannot go wrong.

He'll lead you donw the right path.

He is smart, he knows everything.

Just listen to him, and you will be rich.

You will be a millionaire in no time.

Just buy more, just a little more. Just a little more and you'll have enough.

Stay tuned and stay close to the screen.

Much more info to come.

All pray together and well-wishers welcome.

We're all going to be rich!

We'll all meet on fantasy ispand and raise our glasses and toast the pied piper of the NID!

May god bless all the investors of the NID for doing god's work.

buy more - buy more - buy more.

DID ANYBODY SMELL THAT BULLET?
They had moved in under the cover of darkness, as the delta force members and special command units prepared to make the arrest. Silently, they removed the bodyguards that were stationed around the house.The Bodyguards were no longer in the game, and they entered into the house and moved slowly within the shadows under night vision. Their Pigeon did not know they were there until they placed the pistol to his temple, and he felt the cold nipple of the barrel eating into his brain.
The Coalition authorities had just arrested one of the candidates who, on Feb 22, 2005, had just missed becoming the next Prime Minister of Iraq.
His name was Ahmed Chalabi. The one and only "Golden Boy" of the U.S. Pentagon, the chosen prince of the Coalition forces to lead Iraq into a new era, the same little shit who our intelligence sources caught doing things, that really ticked us off enough to remove him as our hand picked knight in shining armor.
Remember, in my earlier post, I stated, the conflict environment is forever changing presenting new challenges. This was a major shift, because 5 months earlier in Jan 2004, Chalabi had been the guest of honor sitting on the right side of Laua Bush at a State Of The Union luncheon.
In order to understand his fall from grace with the Coalition Forces, we have to go back and look at the man and who he is, not what he wanted the world to see. His public image was a role in which he played. The real Chalabi was entirely different, as it is with a lot of individuals whom power is everything.
He was playing the role very well, until he realized that he was losing influence with the Coalition, and what he had been promised was not going to come to past. He learned in May 2004, that he was not going to be Paul Bremers pick in June for the Prime Ministers spot. He then started laying the ground work for a "Coup" as soon as the election was held. He began to build his political strength with the Shia, and started formulating a strong commitment of support within the ranks of selected clerics, who would be appointed to the new elected assembly from the Shia List, after the election. He also begin to mobilize forces against the UN participation, and in order to gain the support of the certain Shia he gave them information the U.S. Coalition was part of a Sunni Conspiracy. He convinced the Shia leaders the Coalition would turn against the Shia after the election. This scheme is not outlandish at all. Remember!, attack of opposing forces come in many different ways. One attack is use of misinformation to form diversity and divide the citizens into smaller groups. Then you can control each group, with whatever you want them to hear. The story may be different, but the theme is the same in order to achieve the goal you want.He is a master at this type of attack. Like all con men, he is a likeable person,and carry's a certain charm about him that make people beleive what he is saying. (After all haven't we as american voters been suckered in by some of our political leaders.)These are their tools of the manipulation trade. So you cannot blame the Iraqi Shia leaders for believing him. They are just like us, most people believe there is good in everyone, until they feel the knife. Who did he begin to recruit to assist him? Remember our old warm and cozy friend Moqtada al-Sadr of Sadr City. The chubby little sucker who always looked like he had just got out of bed, and was dragging the bedsheet with him as a security blanket!,Yep! the same one who carried out the "Court of Islam" in side the mosque, and cut off heads, as our troops encircled his compound and fought his troops. Well! he just about became one of the leading officials in the newly elected assembly. Another was and is presently leaders of the Dawa Party that we had excluded fromm the political process because of their Iranian influence. Some of those are going to be appointed from the Shia list.
"You can piss on Chalabi", President Bush is supposely remarks to Jordan's King Abdullah months before his arrest. "We have learned he is on good terms with many people, but on bad terms with a whole lot more".
Many Iraqi's on both sides distrusted Chalabi, and with very good reason. It did not make the Coalition look any better either to team up with this guy.(This is just one of the many mistakes we made in the earlier part of the conflict) With that said, it is apparent many Iraqi's due to years of experience in dealing with the shuffling cards of power. They knew not to go against him, as they felt he would be a continuing influence for years to come in the Iraqi political house of cards. (I am afraid they are correct in this thinking)
Chalabi returned to Baghdad around May 2003. Since returning, he had amassed a fortune in business and succeeded in building a powerbase within the fledgling of the Iraqi Administration. How did he get so rich, so powerful,and so quickly? Simple! he did it the old fashion way. He got his hands the Saddam,s Intelligence files, and it has become a useful tool of influence on some decisions he wanted made within the newly form government. He has a strong standing with the Iranian Government, and is steep in dung with former Iraqi intelligence officers of the old revolutionary guard.
In the next post, I will go into his family history and upbringing. You will start to see that the "Economic reconstruction of Iraqi" almost took a bullet to the heart, before it even got out of the delivery room.
As we say politely here in Alabama about someone who is a "Smart Ass" "He is too clever by half"

Does anyone have a phone number to a bank outside Iraq that exchanges IQD?

Phone Number?
Website Address?
Mailing Address?
Any bank OUTSIDE IRAQ?

CARL, SO WE MAY NOT KNOW IF THE ASSEMBLY THAT WE HELP PUT TOGETHER WILL BE GOOD OR BAD FOR SOME TIME (YEARS POSSIBLY)? HOW COULD WE POSSIBLY WEED OUT THE BAD TO TRY AND SET UP A DECENT GOVERNMENT? IS THIS EVEN POSSIBLE? THANKS TOMMY

GREAT STUFF, BY THE WAY

Tommy!
The answer is simple. Its like any good "Southern family" cooked dish. You try to cook it to your taste. Sometimes, you have to adjust the seasoning once it is made. We will be doing the same with the new Iraqi Government, and the newly elected assembly. Remember! in this arena there are no friends. It is only mutual interest. There are no happy middles, and never will be. If we can achieve our international goal then we have been successful.
The Key is to win your goals, without the other side losing. If this happens, then you will see it in the reflection of a dinar value increase. If conflict continues, then you are going to have to use the dinar as a pillow stuffing a little while longer.

Paul said;
Does anyone have a phone number to a bank outside Iraq that exchanges IQD?

Phone Number?
Website Address?
Mailing Address?
Any bank OUTSIDE IRAQ?

---
Paul you seem very confused
first you post that you are in Iraq and you cant find a rate less than $1000 per mil NID??

You can walk into most Baghdad banks or the Khifa market and get 1 Mil NID for $714-$740 USD per mil
1400-1350 rate

Then you post on Ebay that you are looking to buy 1 Mil NID for $500??

any seller can sell 1 Mil NID on Ebay in one day
for $800-850 easily

Now you are asking for a bank outside Iraq that converts NID to USD ??( I thought you were in Iraq?)
answer: there are none in US-Kuwait & Jordan yes
- the NID is still Illiquid
and the only place you can 'exchange' in US is Ebay

C R I S P & U N C I R C U L A T E D ! ! ! !

Keep buying the NID

God bless all those that invest in the new currency

Nothing can go wrong

It's a sure thing

You will be a millionaire

You will FEEL like a millionaire even while your bills are still worth 1/10th of a USA penny! Why? Becuase you have a million of some form of currency!

(You can get a free 10,000 crisp uncirculated NID for any referral ... please tell all your friends right away!)

Crisp and Uncirculated - how can these be bogus?

You can't go wrong with this investment.

It's a sure thing

Buy more NID today!