November 06, 2004

Free For All on the Iraqi Dinar

By Kevin

THIS THREAD IS NOW CLOSED.

BUT THE CONVERSATION CONTINUES ON T&B, ON THE NEW POST HERE.

Here are links to the three previous Iraqi Dinar posts on T&B:

1) June 16, 2004 - June 27, 2004

2) June 27, 2004 - November 6, 2004

3) November 6, 2004 - April 11, 2005

Posted at November 6, 2004 10:25 AM

Comments

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!

Comment by Casanova at November 6, 2004 02:07 PM | Permalink

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!

Comment by Dinaraholic at November 9, 2004 06:12 PM | Permalink

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

Comment by Vador at November 9, 2004 08:10 PM | Permalink

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

Comment by Sheikh Khalid at November 10, 2004 02:44 AM | Permalink

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

Comment by Ian at November 10, 2004 11:16 AM | Permalink

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!

Comment by Pamela at November 10, 2004 04:27 PM | Permalink

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.

Comment by vador at November 10, 2004 10:16 PM | Permalink

Thanks! Ian

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

Comment by Sheikh Khalid at November 11, 2004 03:03 AM | Permalink

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

Comment by BluePrince at November 11, 2004 12:03 PM | Permalink

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

Comment by dwilamar at November 11, 2004 08:33 PM | Permalink

Dwilamar,

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

Comment by Vador at November 11, 2004 09:17 PM | Permalink

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.

Comment by Meal-ticket at November 12, 2004 03:28 PM | Permalink

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

Comment by TrashBucket at November 13, 2004 12:13 AM | Permalink

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

Comment by chaddo at November 13, 2004 03:27 PM | Permalink

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.

Comment by BigAl at November 13, 2004 05:17 PM | Permalink

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

JL

Comment by JohnLarue at November 13, 2004 06:02 PM | Permalink

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

Comment by BigAl at November 13, 2004 08:57 PM | Permalink

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 >

Comment by BigAl at November 13, 2004 08:59 PM | Permalink

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

Comment by Shoaib Mansoor Sheikh at November 14, 2004 03:08 AM | Permalink

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.

Comment by Vador at November 14, 2004 09:26 AM | Permalink

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

Comment by vador at November 14, 2004 09:41 AM | Permalink

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.

Comment by Shaoib Mansoor Sheikh at November 14, 2004 08:39 PM | Permalink

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?

Comment by eldredge at November 15, 2004 11:03 AM | Permalink

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


Comment by dan at November 15, 2004 11:49 AM | Permalink

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...............

Comment by dwilamar at November 15, 2004 08:36 PM | Permalink

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???

Comment by zulfiqar at November 15, 2004 10:26 PM | Permalink

"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)


Comment by JohnLarue at November 16, 2004 06:36 AM | Permalink

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

Comment by Red at November 16, 2004 06:58 AM | Permalink

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

Comment by Kevin Brancato at November 16, 2004 10:28 AM | Permalink

My regrets if your comment was accidentally deleted.

Comment by Kevin Brancato at November 16, 2004 08:56 PM | Permalink

JohnLarue,

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

Comment by dwilamar at November 17, 2004 06:07 PM | Permalink

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.

Comment by Ralph Davenport at November 18, 2004 12:50 AM | Permalink

WOW

Comment by brian at November 18, 2004 02:34 PM | Permalink

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

Comment by Chris at November 18, 2004 05:32 PM | Permalink

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 :-)

Comment by Michael at November 19, 2004 12:10 AM | Permalink

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

Comment by SNAFU at November 19, 2004 06:54 AM | Permalink

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

Comment by SNAFU at November 19, 2004 06:55 AM | Permalink

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

Comment by JohnLarue at November 19, 2004 08:55 AM | Permalink

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??

Comment by SNAFU at November 19, 2004 10:32 AM | Permalink

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

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

Comment by Ralph at November 19, 2004 12:00 PM | Permalink

Is Ebay a good place to buy the Dinar?

Comment by Keith at November 19, 2004 02:53 PM | Permalink

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.

Comment by dwilamar at November 20, 2004 10:20 AM | Permalink

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."

Comment by JohnLarue at November 20, 2004 02:29 PM | Permalink

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

Comment by BluePrince at November 20, 2004 03:25 PM | Permalink

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.

Comment by Jamila Thema at November 21, 2004 05:29 AM | Permalink

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

Comment by Big J at November 21, 2004 02:07 PM | Permalink

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

Comment by John at November 21, 2004 03:00 PM | Permalink

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?

Comment by Michael at November 21, 2004 05:03 PM | Permalink

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

Comment by JohnLarue at November 21, 2004 05:20 PM | Permalink

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.

Comment by sherii at November 21, 2004 10:14 PM | Permalink

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?

Comment by keith at November 23, 2004 07:31 AM | Permalink

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.

Comment by head over feet at November 23, 2004 08:51 PM | Permalink

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!

Comment by Casanova at November 24, 2004 01:15 AM | Permalink

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

Comment by JohnLarue at November 24, 2004 08:49 AM | Permalink

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...!!!

Comment by Casanova at November 25, 2004 02:43 AM | Permalink

We all must stay POSITIVE!!!!

Comment by dwilamar at November 26, 2004 06:05 PM | Permalink

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

Comment by BluePrince at November 27, 2004 06:16 AM | Permalink

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?

Comment by RicoPorter at November 28, 2004 02:50 AM | Permalink

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.

Comment by JohnLarue at November 28, 2004 04:39 PM | Permalink

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

Comment by Gary at November 30, 2004 06:56 AM | Permalink

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.

Comment by Scott French at November 30, 2004 02:41 PM | Permalink

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?


Comment by Darrin at December 1, 2004 12:04 PM | Permalink

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.


Comment by steve at December 1, 2004 01:55 PM | Permalink

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.

Comment by Darrin at December 1, 2004 05:50 PM | Permalink

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

Comment by JohnLarue at December 1, 2004 08:04 PM | Permalink

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

Comment by dwilamar at December 1, 2004 08:17 PM | Permalink

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

Comment by smad at December 1, 2004 09:44 PM | Permalink

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?

Comment by Tom at December 1, 2004 10:37 PM | Permalink

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

Comment by JohnLarue at December 1, 2004 10:42 PM | Permalink

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

Comment by JohnLarue at December 1, 2004 10:50 PM | Permalink

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?

Comment by Tom at December 1, 2004 11:03 PM | Permalink

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?

Comment by JohnLarue at December 2, 2004 12:07 AM | Permalink

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?

Comment by Tom at December 2, 2004 08:14 AM | Permalink

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

Comment by JohnLarue at December 2, 2004 11:16 AM | Permalink

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!!!!

Comment by michael at December 2, 2004 06:19 PM | Permalink

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

Comment by Bobby Floyd at December 2, 2004 08:44 PM | Permalink

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

Comment by dwilamar at December 2, 2004 09:39 PM | Permalink

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?

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

Comment by Red at December 3, 2004 09:18 AM | Permalink

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!!


Comment by JohnLarue at December 3, 2004 02:55 PM | Permalink

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.

Comment by Chromeman at December 3, 2004 04:54 PM | Permalink

can any one tell me the best place to buy dinar

Comment by dave at December 4, 2004 01:48 AM | Permalink

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

Comment by SemperFi at December 6, 2004 02:14 PM | Permalink

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

Comment by Ian at December 7, 2004 01:18 AM | Permalink

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.

Comment by Joe D. Cordeiro at December 7, 2004 07:03 AM | Permalink

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???

Comment by Tom at December 7, 2004 07:47 PM | Permalink

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.

Comment by JohnLarue at December 7, 2004 08:01 PM | Permalink

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.

Comment by Leo at December 8, 2004 03:35 AM | Permalink

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.

Comment by Mr. P at December 8, 2004 03:41 AM | Permalink

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.

Comment by Darrin Husmann at December 8, 2004 04:12 AM | Permalink

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!!!!!!!!!

Comment by dan at December 8, 2004 02:48 PM | Permalink

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.

Comment by Doe Boy at December 8, 2004 04:10 PM | Permalink

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.

Comment by Brian at December 8, 2004 10:32 PM | Permalink

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.

Comment by a at December 9, 2004 12:45 AM | Permalink

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

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

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!!!!!!!

Comment by Joe at December 9, 2004 02:44 PM | Permalink

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.

Comment by JohnLarue at December 9, 2004 06:10 PM | Permalink

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?

Comment by jm at December 10, 2004 04:07 PM | Permalink

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.

Comment by JohnLarue at December 10, 2004 07:18 PM | Permalink

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

Comment by John at December 12, 2004 04:41 PM | Permalink

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

Comment by John at December 12, 2004 04:53 PM | Permalink

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

Comment by John at December 12, 2004 05:01 PM | Permalink

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.

Comment by JohnLarue at December 12, 2004 05:22 PM | Permalink

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

Comment by jm at December 13, 2004 02:12 PM | Permalink

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

Comment by JohnLarue at December 13, 2004 03:57 PM | Permalink

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?

Comment by Vance at December 14, 2004 09:10 PM | Permalink

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!

Comment by SNAFU at December 15, 2004 06:18 AM | Permalink

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.

Comment by JohnLarue at December 15, 2004 08:54 AM | Permalink

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.







Comment by dwilamar at December 15, 2004 03:51 PM | Permalink

Interesting...

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

Comment by Scott French at December 15, 2004 06:41 PM | Permalink

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??

Comment by Joe at December 16, 2004 01:20 PM | Permalink

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

Comment by gluphus at December 17, 2004 02:01 PM | Permalink

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.

Comment by Ed at December 17, 2004 08:19 PM | Permalink

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

Comment by usajmg93f at December 18, 2004 03:11 PM | Permalink

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!

Comment by mls723 at December 20, 2004 01:37 AM | Permalink

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

Comment by talat at December 20, 2004 03:03 AM | Permalink

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.

Comment by brad at December 20, 2004 09:48 AM | Permalink

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.

Comment by Scott at December 20, 2004 12:44 PM | Permalink

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

Comment by willie in Reno at December 20, 2004 01:28 PM | Permalink

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

Comment by willie in Reno at December 20, 2004 01:29 PM | Permalink

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

Comment by JohnLarue at December 20, 2004 01:44 PM | Permalink

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

Comment by Kevin Brancato at December 20, 2004 02:46 PM | Permalink

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.

Comment by Scott at December 20, 2004 07:30 PM | Permalink

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 by Red at December 21, 2004 09:26 AM | Permalink

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...

Comment by Bill at December 21, 2004 04:10 PM | Permalink

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

Comment by Bobby Floyd at December 21, 2004 09:27 PM | Permalink

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.

Comment by Willie in Reno at December 22, 2004 03:17 PM | Permalink

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

Comment by DK at December 22, 2004 05:56 PM | Permalink

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

Comment by JohnLarue at December 22, 2004 06:25 PM | Permalink

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

Comment by Scott at December 23, 2004 12:53 PM | Permalink

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

Comment by Ken at December 23, 2004 03:30 PM | Permalink

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.

Comment by Matt at December 25, 2004 11:58 PM | Permalink

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....

Comment by Matt at December 27, 2004 09:22 PM | Permalink

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

Comment by Tom at December 28, 2004 11:45 PM | Permalink

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

Comment by JohnLarue at December 29, 2004 08:40 AM | Permalink

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.

Comment by brian at December 29, 2004 04:15 PM | Permalink

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.

Comment by JohnLarue at December 29, 2004 08:23 PM | Permalink

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


Comment by dan at December 30, 2004 08:19 AM | Permalink

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)


Comment by Red at December 30, 2004 10:58 AM | Permalink

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.

Comment by John at January 1, 2005 02:17 PM | Permalink

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.

Comment by usajmg93f at January 2, 2005 10:46 AM | Permalink

New Iraqi Dinar risks

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

Let the buyer beware.

Comment by x at January 2, 2005 01:29 PM | Permalink

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

Comment by brian at January 2, 2005 02:04 PM | Permalink

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

Comment by Robert at January 2, 2005 05:24 PM | Permalink

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

Comment by Aaron at January 2, 2005 06:44 PM | Permalink

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...

Comment by Matt at January 2, 2005 07:41 PM | Permalink

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

Comment by JohnLarue at January 2, 2005 08:26 PM | Permalink

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.

Comment by Willie in Reno at January 3, 2005 12:09 AM | Permalink

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

Comment by JohnLarue at January 3, 2005 03:03 AM | Permalink

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.

Comment by Chromeman at January 3, 2005 05:18 AM | Permalink

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.

Comment by John at January 3, 2005 12:54 PM | Permalink

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

Comment by Ian at January 3, 2005 01:17 PM | Permalink

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

Comment by Joe D. at January 3, 2005 05:33 PM | Permalink

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

Comment by JohnLarue at January 3, 2005 09:23 PM | Permalink

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

Comment by Maggi at January 3, 2005 11:04 PM | Permalink

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

Comment by brandon at January 4, 2005 08:44 AM | Permalink

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.

Comment by x at January 5, 2005 08:35 AM | Permalink

Brian,

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

Comment by x at January 5, 2005 08:40 AM | Permalink

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

Comment by Kenney at January 6, 2005 10:21 AM | Permalink

not good if true -revaluation/reissue of dinar?

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

Comment by Red at January 6, 2005 08:28 PM | Permalink

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

Comment by Capt'n at January 7, 2005 03:36 PM | Permalink

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


Comment by Kevin Brancato at January 8, 2005 10:50 AM | Permalink

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

Comment by CHAD N at January 9, 2005 02:14 PM | Permalink

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

Comment by Andrew at January 10, 2005 02:01 AM | Permalink

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

Comment by x at January 10, 2005 04:56 PM | Permalink

TradebankofIraq.com had the NID at 1402 today.

Comment by Willie in Reno at January 10, 2005 09:45 PM | Permalink

Willie in Reno:

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

Comment by Capt'n at January 10, 2005 11:24 PM | Permalink

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

Comment by rws at January 11, 2005 06:57 AM | Permalink

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...

Comment by Bill at January 13, 2005 09:20 AM | Permalink

I echo the comments of Bill 100%.

Thanks Kevin, Team and all participants!

Comment by Capt'n at January 13, 2005 11:47 AM | Permalink

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

Comment by willie in reno at January 13, 2005 08:29 PM | Permalink

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

Comment by JohnLarue at January 13, 2005 11:20 PM | Permalink

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

Comment by JohnLarue at January 14, 2005 05:37 AM | Permalink

when will us banks start tradeding it

Comment by cory at January 14, 2005 06:37 AM | Permalink

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

Comment by JohnLarue at January 14, 2005 11:23 AM | Permalink

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

Comment by Joe D. at January 14, 2005 01:59 PM | Permalink

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

Comment by JohnLarue at January 14, 2005 03:04 PM | Permalink

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..


Comment by Ian at January 14, 2005 06:14 PM | Permalink

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

Comment by ah - zaer at January 15, 2005 09:31 AM | Permalink

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

Comment by Red at January 15, 2005 10:05 AM | Permalink

Thanks John!!!! I will be watching.

Comment by Joe D. at January 16, 2005 03:12 AM | Permalink

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

Comment by Joe D. at January 16, 2005 03:13 AM | Permalink

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

Comment by Joe D. at January 16, 2005 03:16 AM | Permalink

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?

Comment by Asia at January 16, 2005 03:29 PM | Permalink

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.

Comment by Rob at January 18, 2005 11:58 AM | Permalink

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

Comment by Joe D. at January 18, 2005 01:51 PM | Permalink

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.

Comment by C.J at January 18, 2005 04:56 PM | Permalink

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.

Comment by Chromeman at January 18, 2005 06:25 PM | Permalink

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.

Comment by cory at January 18, 2005 10:23 PM | Permalink

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

Comment by Brandon at January 19, 2005 02:22 AM | Permalink

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

Comment by Goob at January 19, 2005 02:44 AM | Permalink

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

Comment by Brandon at January 19, 2005 08:46 AM | Permalink

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

Comment by JohnLarue at January 19, 2005 09:50 AM | Permalink

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.

Comment by CHAD N at January 20, 2005 11:23 AM | Permalink

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.

Comment by Joe D at January 20, 2005 02:59 PM | Permalink

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

Comment by RON at January 20, 2005 10:05 PM | Permalink

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

Comment by RON at January 20, 2005 10:24 PM | Permalink

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.

Comment by FC at January 21, 2005 02:24 AM | Permalink

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

Comment by FC at January 21, 2005 02:30 AM | Permalink

"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

Comment by Jerry at January 21, 2005 04:23 AM | Permalink

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 ?

Comment by cory at January 21, 2005 05:38 AM | Permalink

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.

Comment by Chromeman at January 22, 2005 02:38 PM | Permalink

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

Comment by Red at January 22, 2005 04:17 PM | Permalink

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.

Comment by Red at January 23, 2005 03:36 AM | Permalink

Sorry, The above post is by Chromeman not Red

Comment by Chromeman at January 23, 2005 03:40 AM | Permalink


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

Comment by Ed at January 23, 2005 07:20 PM | Permalink

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.

Comment by chromeman at January 23, 2005 11:33 PM | Permalink

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.

Comment by RON at January 24, 2005 10:01 AM | Permalink

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.

Comment by Carl at January 25, 2005 09:55 AM | Permalink

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!

Comment by Capt'n at January 25, 2005 11:08 AM | Permalink

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

Comment by Ed at January 25, 2005 11:28 PM | Permalink

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.

Comment by RON at January 26, 2005 01:33 AM | Permalink

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... :(

Comment by Sergeant at January 26, 2005 07:30 AM | Permalink

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.

Comment by Carl Overton at January 26, 2005 08:36 AM | Permalink

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

Comment by JohnLarue at January 26, 2005 10:53 AM | Permalink

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

Comment by Carl at January 26, 2005 09:06 PM | Permalink

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.

Comment by willie in Reno at January 26, 2005 11:15 PM | Permalink

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?

Comment by Chromeman at January 27, 2005 03:19 AM | Permalink

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...

Comment by Carl at January 27, 2005 08:47 AM | Permalink

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!

Comment by Bill at January 27, 2005 12:21 PM | Permalink

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

Comment by RON at January 27, 2005 03:44 PM | Permalink

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

Comment by Willie in Reno at January 27, 2005 04:16 PM | Permalink

Forgive me but:

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

Comment by Capt'n at January 27, 2005 05:52 PM | Permalink

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..

Comment by Carl at January 28, 2005 07:50 AM | Permalink

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

Comment by Carl at January 28, 2005 10:40 AM | Permalink

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.

Comment by CHAD at January 28, 2005 11:38 AM | Permalink

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

Comment by RON at January 28, 2005 05:08 PM | Permalink

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.

Comment by Willie in Reno at January 28, 2005 10:00 PM | Permalink

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..

Comment by Info at January 29, 2005 02:17 AM | Permalink

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..

Comment by Carl at January 29, 2005 08:02 AM | Permalink

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.

Comment by Joe DiAmbrose at January 29, 2005 08:26 AM | Permalink

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...


Comment by Carl at January 29, 2005 11:41 AM | Permalink

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

Comment by CHAD at January 29, 2005 12:14 PM | Permalink

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..

Comment by Ian at January 29, 2005 02:16 PM | Permalink

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

Comment by Carl at January 30, 2005 08:24 AM | Permalink

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

Comment by Carl at January 30, 2005 11:33 AM | Permalink

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....

Comment by luv at January 30, 2005 02:21 PM | Permalink

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

Comment by iboca at January 30, 2005 04:52 PM | Permalink

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

Comment by mida_zap at January 30, 2005 07:00 PM | Permalink

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

Comment by Carl at January 30, 2005 09:32 PM | Permalink

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.....

Comment by Carl at January 30, 2005 10:39 PM | Permalink

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..

Comment by Ian at January 31, 2005 01:28 AM | Permalink

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 "

Comment by Carl at January 31, 2005 07:08 AM | Permalink

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.

Comment by Carl at January 31, 2005 07:19 AM | Permalink

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

Comment by JohnLarue at January 31, 2005 10:01 AM | Permalink

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

Comment by JohnLarue at January 31, 2005 11:05 AM | Permalink

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.

Comment by Carl at January 31, 2005 12:30 PM | Permalink

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


Comment by JohnLarue at January 31, 2005 12:54 PM | Permalink

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

Comment by Carl at January 31, 2005 01:56 PM | Permalink

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

Comment by RON at January 31, 2005 06:49 PM | Permalink

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

Comment by RON at January 31, 2005 06:54 PM | Permalink

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.

Comment by Carl at January 31, 2005 10:14 PM | Permalink

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.

Comment by jeff at February 1, 2005 08:48 AM | Permalink

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..

Comment by Carl at February 1, 2005 09:58 AM | Permalink

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...

Comment by Todd at February 1, 2005 05:14 PM | Permalink

Where is the "Investor's Iraq Forum?"

Comment by ronnie at February 1, 2005 05:27 PM | Permalink

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.

Comment by Carl at February 1, 2005 06:59 PM | Permalink

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

Comment by CHAD at February 1, 2005 07:56 PM | Permalink

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/

Comment by Todd at February 1, 2005 08:17 PM | Permalink

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.

Comment by Todd at February 1, 2005 08:28 PM | Permalink

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?

Comment by Ray at February 2, 2005 04:43 AM | Permalink

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.

Comment by Carl at February 2, 2005 08:26 AM | Permalink

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.

Comment by Carl at February 2, 2005 08:38 AM | Permalink

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.

Comment by Carl at February 2, 2005 09:35 AM | Permalink

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

Comment by Carl at February 2, 2005 09:50 AM | Permalink

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

Comment by Red at February 2, 2005 10:57 AM | Permalink

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

Comment by Red at February 2, 2005 11:02 AM | Permalink

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

Comment by rws at February 2, 2005 11:15 AM | Permalink

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.

Comment by Carl at February 2, 2005 11:34 AM | Permalink

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

Comment by Red at February 2, 2005 01:09 PM | Permalink

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.

Comment by JC at February 2, 2005 02:13 PM | Permalink

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

Comment by Carl at February 2, 2005 02:39 PM | Permalink

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

Comment by Red at February 2, 2005 04:46 PM | Permalink

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.

Comment by carl at February 2, 2005 06:27 PM | Permalink

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

Comment by Joe at February 2, 2005 07:04 PM | Permalink

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.

Comment by brian at February 2, 2005 07:16 PM | Permalink

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

Comment by vinny at February 3, 2005 07:25 AM | Permalink

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.


Comment by Richard at February 3, 2005 08:31 AM | Permalink

Good Exchange Converter


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


Comment by Richard at February 3, 2005 08:52 AM | Permalink

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!

Comment by Joe at February 3, 2005 09:19 AM | Permalink

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!

Comment by JC at February 3, 2005 11:00 AM | Permalink

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"

Comment by Carl at February 3, 2005 11:32 AM | Permalink

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.

Comment by brojeffrey at February 3, 2005 11:39 AM | Permalink

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)

Comment by Bill at February 3, 2005 02:22 PM | Permalink

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

Comment by geeb at February 3, 2005 03:44 PM | Permalink

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

Comment by geeb at February 3, 2005 03:48 PM | Permalink

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

Comment by geeb at February 3, 2005 03:51 PM | Permalink

Coins not available yet in Jordan.

Comment by geeb at February 3, 2005 03:52 PM | Permalink

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 "

Comment by RON at February 3, 2005 07:39 PM | Permalink

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.

Comment by Ray at February 4, 2005 03:24 AM | Permalink

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

Comment by Joe at February 4, 2005 08:48 AM | Permalink

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!

Comment by Randy at February 4, 2005 03:30 PM | Permalink

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.

Comment by Carl at February 4, 2005 06:42 PM | Permalink

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


Comment by Carl at February 5, 2005 08:54 AM | Permalink

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.

Comment by Carl at February 5, 2005 09:49 AM | Permalink

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

Comment by jason at February 5, 2005 11:32 AM | Permalink

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

Comment by Joe at February 5, 2005 11:49 AM | Permalink

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

Comment by jason at February 5, 2005 11:57 AM | Permalink

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.

Comment by CHAD at February 5, 2005 12:14 PM | Permalink

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

Comment by CHAD at February 5, 2005 12:51 PM | Permalink

Jason:

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

Comment by Carl at February 5, 2005 07:25 PM | Permalink

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

Comment by coconut at February 6, 2005 06:30 AM | Permalink

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.

Comment by coconut at February 6, 2005 06:35 AM | Permalink

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

Comment by Joe at February 6, 2005 09:02 AM | Permalink

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 ....

Comment by Joe at February 6, 2005 09:13 AM | Permalink

Let's get busy

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

Comment by Joe at February 6, 2005 10:03 AM | Permalink

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

Comment by Red at February 6, 2005 11:24 AM | Permalink

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.

Comment by Joe at February 6, 2005 11:34 AM | Permalink

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.

Comment by willie at February 7, 2005 12:12 AM | Permalink

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.

Comment by Jeff at February 7, 2005 07:22 PM | Permalink

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

Comment by Red at February 7, 2005 07:58 PM | Permalink

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.

Comment by Joe at February 8, 2005 04:31 AM | Permalink

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

Comment by RON at February 8, 2005 10:56 AM | Permalink

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

Comment by Joe at February 8, 2005 07:08 PM | Permalink

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.

Comment by Joe at February 8, 2005 07:10 PM | Permalink

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!

Comment by JohnLarue at February 9, 2005 12:16 AM | Permalink

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

Comment by Joe at February 9, 2005 05:54 AM | Permalink

"- 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

Comment by Joe at February 9, 2005 08:38 AM | Permalink

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'



Comment by JohnLarue at February 9, 2005 09:56 AM | Permalink

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

Comment by Terrance at February 9, 2005 02:00 PM | Permalink

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

Comment by Joe at February 9, 2005 06:45 PM | Permalink

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

Comment by Red at February 9, 2005 10:50 PM | Permalink

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.

Comment by Joe at February 10, 2005 05:37 AM | Permalink

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.

Comment by CHAD at February 10, 2005 08:42 AM | Permalink

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.

Comment by Todd at February 10, 2005 10:14 AM | Permalink

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.

Comment by EJAMM at February 10, 2005 05:58 PM | Permalink

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.

Comment by Terrance at February 10, 2005 06:26 PM | Permalink

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!!!!!

Comment by brian at February 10, 2005 07:19 PM | Permalink

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 -

Comment by Joe at February 10, 2005 07:44 PM | Permalink

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.

Comment by Doug at February 10, 2005 08:31 PM | Permalink

doug,
i think you are full of ____!

Comment by dwilamar at February 10, 2005 10:13 PM | Permalink

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..

Comment by Michael at February 10, 2005 10:25 PM | Permalink

ITS IS NOT TRUE THERE JUST JERKING YOUR CHAINS

Comment by cory at February 10, 2005 11:10 PM | Permalink

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

Comment by RON at February 10, 2005 11:40 PM | Permalink

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

Comment by ChickenLittle at February 11, 2005 07:01 AM | Permalink

sorry terrance, I meant that 12 year old DOUG

Comment by ChickenLittle at February 11, 2005 07:02 AM | Permalink

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

Comment by Carl at February 11, 2005 08:08 AM | Permalink

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!

Comment by Carl at February 11, 2005 10:04 AM | Permalink

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....

Comment by Terrance at February 11, 2005 10:57 AM | Permalink

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?

Comment by thekize at February 11, 2005 12:00 PM | Permalink

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.

Comment by JohnLarue at February 11, 2005 12:04 PM | Permalink

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.

Comment by Carl at February 11, 2005 12:07 PM | Permalink

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

Comment by doc at February 11, 2005 04:29 PM | Permalink

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.

Comment by EJAMM at February 11, 2005 05:44 PM | Permalink

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

Comment by Honcho at February 12, 2005 01:03 AM | Permalink

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.

Comment by armywife at February 12, 2005 02:27 AM | Permalink

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.

Comment by Joe at February 12, 2005 05:12 AM | Permalink

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.

Comment by Joe at February 12, 2005 05:18 AM | Permalink

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.

Comment by Carl at February 12, 2005 07:43 AM | Permalink

Armywife,
Thank you and your husband for your sacrafices!

Carl,
Exceptionally well said!

Comment by Capt'n at February 12, 2005 01:17 PM | Permalink

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.

Comment by armywife at February 12, 2005 02:58 PM | Permalink

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

Comment by Joe at February 13, 2005 06:18 AM | Permalink

Suspicious design on NID -

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

Comment by Joe at February 13, 2005 08:04 AM | Permalink

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

Comment by Carl at February 13, 2005 08:40 AM | Permalink

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.

Comment by Joe at February 13, 2005 09:10 AM | Permalink

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

Comment by David at February 13, 2005 09:18 AM | Permalink

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.


Comment by Carl at February 13, 2005 09:55 AM | Permalink

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.

Comment by jason at February 13, 2005 10:43 AM | Permalink

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...

Comment by Carl at February 13, 2005 11:49 AM | Permalink

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

Comment by OnWis at February 13, 2005 03:39 PM | Permalink

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.

Comment by coconut at February 13, 2005 05:07 PM | Permalink

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.

Comment by Joe at February 13, 2005 07:47 PM | Permalink

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

Comment by Red at February 13, 2005 08:58 PM | Permalink

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.

Comment by willie in reno at February 13, 2005 09:59 PM | Permalink

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.

Comment by Millionaire2B at February 14, 2005 12:10 AM | Permalink

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?

Comment by Carl at February 14, 2005 08:10 AM | Permalink


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 Iraq¹s 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 DIDN¹T KNOW!

AND WHY DIDN¹T WE KNOW? OUR MEDIA WOULDN¹T 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 world¹s perception of the United States and our soldiers.


This is verifiable on the Department of Defense website.

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


Comment by SNAFU at February 14, 2005 09:48 AM | Permalink

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/

Comment by Joe at February 14, 2005 09:52 AM | Permalink

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.

Comment by CHAD at February 14, 2005 10:11 AM | Permalink

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.

Comment by Terrance - at February 14, 2005 05:58 PM | Permalink

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.

Comment by Carl at February 14, 2005 07:14 PM | Permalink

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.

Comment by chromeman at February 15, 2005 12:11 AM | Permalink

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

Comment by Ed at February 15, 2005 12:19 AM | Permalink

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.

Comment by Carl at February 15, 2005 06:38 AM | Permalink

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?

Comment by Carl at February 15, 2005 07:50 AM | Permalink

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

Comment by BestHope at February 15, 2005 09:23 AM | Permalink

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

Comment by Tashea at February 15, 2005 09:33 AM | Permalink

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

Comment by Red at February 15, 2005 09:52 AM | Permalink

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

Comment by Joe at February 15, 2005 12:07 PM | Permalink

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

Comment by Joe at February 15, 2005 12:09 PM | Permalink

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.

Comment by Terrance at February 15, 2005 01:15 PM | Permalink

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

Comment by Joe at February 15, 2005 01:52 PM | Permalink

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

Comment by Christopher at February 15, 2005 02:27 PM | Permalink

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

Comment by Buck at February 15, 2005 02:51 PM | Permalink

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?

Comment by todd at February 15, 2005 04:25 PM | Permalink

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

Comment by buck at February 15, 2005 04:25 PM | Permalink

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?

Comment by Terrance at February 15, 2005 04:50 PM | Permalink

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.

Comment by EJAMM at February 15, 2005 04:54 PM | Permalink

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

Comment by JohnLarue at February 15, 2005 05:42 PM | Permalink

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.

Comment by Randy at February 15, 2005 05:56 PM | Permalink

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

Comment by JohnLarue at February 15, 2005 06:45 PM | Permalink

a loaf or pack of Pita Bread
300-500 dinars(21-34 cents USD)

Comment by JohnLarue at February 15, 2005 07:16 PM | Permalink

A cup of tea,beverage at a market cafe costs an Iraqi;

250-350 dinar (0r 17 -24 US cents)

Comment by JohnLarue at February 15, 2005 07:54 PM | Permalink

Hey! Guys!
Great questions today.

Comment by carl at February 15, 2005 09:05 PM | Permalink

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.

Comment by Sherrie at February 15, 2005 09:07 PM | Permalink

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

Comment by buck at February 15, 2005 09:19 PM | Permalink

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)

Comment by JohnLarue at February 16, 2005 12:38 AM | Permalink

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.

Comment by SNAFU at February 16, 2005 06:50 AM | Permalink

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.

Comment by Joe at February 16, 2005 08:25 AM | Permalink

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."

Comment by x at February 16, 2005 08:43 AM | Permalink

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


Comment by Bill at February 16, 2005 11:23 AM | Permalink

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.

Comment by Terrance at February 16, 2005 06:20 PM | Permalink

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.

Comment by Michael at February 16, 2005 10:07 PM | Permalink

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.

Comment by Tony Sr. at February 17, 2005 01:26 AM | Permalink

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.

Comment by Tony Sr. at February 17, 2005 01:28 AM | Permalink

TO POSTER X,


Rather than fill up all that space, cut and past a link to the article your cut and pasted.


John

Comment by John at February 17, 2005 09:09 AM | Permalink

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?

Comment by x at February 17, 2005 09:35 AM | Permalink

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

Comment by dave at February 17, 2005 01:49 PM | Permalink

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.

Comment by Joe at February 17, 2005 02:13 PM | Permalink

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 !!

Comment by Jeff at February 17, 2005 02:15 PM | Permalink

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.

Comment by Scott at February 17, 2005 02:40 PM | Permalink

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.

Comment by Xx_Exar_Kun_xX at February 17, 2005 03:25 PM | Permalink

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

Comment by Terrance at February 17, 2005 05:20 PM | Permalink

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.

Comment by Joe at February 17, 2005 06:35 PM | Permalink

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...

Comment by Michael at February 17, 2005 07:23 PM | Permalink

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.

Comment by Chris at February 17, 2005 10:21 PM | Permalink

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.

Comment by Michael at February 18, 2005 01:20 AM | Permalink

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..

Comment by Michael at February 18, 2005 01:50 AM | Permalink

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.

Comment by Chromeman at February 18, 2005 03:43 AM | Permalink

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.

Comment by Joe at February 18, 2005 08:42 AM | Permalink

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.

Comment by EJAMM at February 18, 2005 08:51 AM | Permalink

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.




Comment by Carl at February 18, 2005 12:33 PM | Permalink

Thank you Carl - Great Information!

Comment by buck at February 18, 2005 08:06 PM | Permalink

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

Comment by scooter at February 18, 2005 08:13 PM | Permalink

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! :)

Comment by Todd at February 18, 2005 09:01 PM | Permalink

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.

Comment by Carl at February 18, 2005 11:37 PM | Permalink

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.

Comment by Joe at February 19, 2005 06:18 AM | Permalink

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.

Comment by Joe at February 19, 2005 06:52 AM | Permalink

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"

Comment by Carl at February 19, 2005 10:25 AM | Permalink

Carl........ Y?

Comment by dwilamar at February 19, 2005 07:27 PM | Permalink

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?

Comment by Michael at February 19, 2005 10:27 PM | Permalink

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.


Comment by Carl at February 20, 2005 01:53 AM | Permalink

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.

Comment by Joe at February 20, 2005 07:30 AM | Permalink

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

Comment by red at February 20, 2005 08:09 AM | Permalink

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

Comment by Scooter at February 20, 2005 09:11 AM | Permalink

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.

Comment by Michael at February 20, 2005 12:30 PM | Permalink

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:)~

Comment by Paul Marino at February 20, 2005 02:37 PM | Permalink

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.

Comment by Carl at February 20, 2005 04:55 PM | Permalink

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

Comment by Joe at February 20, 2005 06:19 PM | Permalink

Thanks Carl.........

Comment by dwilamar at February 20, 2005 07:27 PM | Permalink

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

Comment by Bryan at February 20, 2005 08:07 PM | Permalink

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

Comment by Bryan at February 20, 2005 08:10 PM | Permalink

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.

Comment by Michael at February 20, 2005 08:12 PM | Permalink

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!

Comment by buck at February 20, 2005 08:35 PM | Permalink

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.

Comment by Carl at February 20, 2005 08:58 PM | Permalink

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.

Comment by Carl at February 20, 2005 09:10 PM | Permalink

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

Comment by JohnLarue at February 20, 2005 09:36 PM | Permalink

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.

Comment by Doug at February 21, 2005 12:21 AM | Permalink

Doug:
I don't know if I would have expressed her rumor totally that way. But! I do like how you think.

Comment by Carl at February 21, 2005 07:29 AM | Permalink

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

Comment by Carl at February 21, 2005 07:47 AM | Permalink

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...

Comment by Carl at February 21, 2005 10:19 AM | Permalink

I liked life much better when I didn't know what a Jihad was.

Paul:)~

Comment by Paul at February 21, 2005 10:34 AM | Permalink

I liked life much better when I didn't know what a Jihad was.

Paul:)~

Comment by Paul at February 21, 2005 10:35 AM | Permalink

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

Comment by RON at February 21, 2005 12:18 PM | Permalink

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.

Comment by Carl at February 21, 2005 02:17 PM | Permalink

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?

Comment by Terrance at February 21, 2005 02:51 PM | Permalink

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.

Comment by Joe at February 21, 2005 05:00 PM | Permalink

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

Comment by Joe at February 21, 2005 05:29 PM | Permalink

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 :>))

Comment by red at February 21, 2005 08:08 PM | Permalink

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

Comment by Paul at February 22, 2005 04:33 AM | Permalink

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 -

Comment by Joe at February 22, 2005 05:46 AM | Permalink

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.

Comment by Joe at February 22, 2005 05:56 AM | Permalink

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.

Comment by Carl at February 22, 2005 06:07 AM | Permalink

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.

Comment by Joe at February 22, 2005 08:16 AM | Permalink

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.

Comment by Carl at February 22, 2005 09:14 AM | Permalink

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?

Comment by tommy at February 22, 2005 09:19 AM | Permalink

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

Comment by TOMMY at February 22, 2005 09:23 AM | Permalink

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!

Comment by Carl at February 22, 2005 09:38 AM | Permalink

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

Comment by TOMMY at February 22, 2005 09:54 AM | Permalink

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.

Comment by Carl at February 22, 2005 09:59 AM | Permalink

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

Comment by red at February 22, 2005 10:05 AM | Permalink

red and carl,

thank you very much

Comment by tommy at February 22, 2005 10:31 AM | Permalink

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


Comment by RON at February 22, 2005 12:42 PM | Permalink

Regarding Debt in Iraq:

http://www.jubileeiraq.org/timeline.htm

Comment by Joe at February 22, 2005 01:09 PM | Permalink

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

Comment by tommy at February 22, 2005 03:20 PM | Permalink

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

Comment by TOMMY at February 22, 2005 03:34 PM | Permalink

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.

Comment by Dave A at February 22, 2005 03:36 PM | Permalink

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

Comment by Dave A at February 22, 2005 03:52 PM | Permalink

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!!

Comment by Terrance at February 22, 2005 04:22 PM | Permalink

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. ;)

Comment by Dave A at February 22, 2005 04:55 PM | Permalink

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

Comment by Michael at February 22, 2005 05:32 PM | Permalink

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....

Comment by Terrance at February 22, 2005 05:36 PM | Permalink

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.

Comment by Kelly at February 22, 2005 05:55 PM | Permalink

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

Comment by Dave A at February 22, 2005 06:10 PM | Permalink

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.

Comment by Terrance at February 22, 2005 06:15 PM | Permalink

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

Comment by kelly at February 22, 2005 07:24 PM | Permalink

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

Comment by buck at February 22, 2005 09:28 PM | Permalink

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.

Comment by bert at February 22, 2005 09:59 PM | Permalink

TERRANCE
I HOPE THESE POSTINGS ARE RIGHT ALSO.
WE WILL ALL GO ON A LONG VACATION WITH FAMILY.
RON

Comment by RON at February 22, 2005 10:02 PM | Permalink

TERRANCE
I HOPE THESE POSTINGS ARE RIGHT ALSO.
WE WILL ALL GO ON A LONG VACATION WITH FAMILY.
RON

Comment by RON at February 22, 2005 10:02 PM | Permalink

SORRY STILL IN THE LEARNING STAGE OF TYPEING AND POSTING HAVE NEVER DONE ANY OF THIS BEFORE I AM OLD OLD SCHOOL.
RON

Comment by RON at February 22, 2005 10:06 PM | Permalink

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.


Comment by Carl at February 22, 2005 10:35 PM | Permalink

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

Comment by JohnLarue at February 22, 2005 11:05 PM | Permalink

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.

Comment by buck at February 23, 2005 12:11 AM | Permalink

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.

Comment by Joe at February 23, 2005 05:38 AM | Permalink

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"


Comment by Carl at February 23, 2005 08:32 AM | Permalink

Does anyone have a phone number to a bank outside Iraq that exchanges IQD?

Phone Number?
Website Address?
Mailing Address?
Any bank OUTSIDE IRAQ?

Comment by paul at February 23, 2005 08:39 AM | Permalink

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

Comment by tommy at February 23, 2005 08:42 AM | Permalink

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.

Comment by Carl at February 23, 2005 09:16 AM | Permalink

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


Comment by red at February 23, 2005 11:01 AM | Permalink

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!

Comment by Ned&joe at February 23, 2005 11:39 AM | Permalink

Ive' got my good pal Ned to help me sort all this out now. He was stationed in Iraq and sheds real common sense on this NID story. Thanks Ned!

He's taking a bold step and investing in hair care products while he invests in the NID. Why? You don't have to go far to find out!

Just like the Iraqi currency which we figure MUST be bottomed out and on it's way up (right?) - eventually, the Iraqi people will adopt western style hair-doos! Styles too have bottomed out, we strongly believe. Once the NID opens up and everyone's rich, sunnis and shia alike will have a chance to be real gentelmen, and sport western coiffs and sports jackets. You can't be millionaires and go around with a robe and sandalls! These hair care companies will SOAR when this happens.

We'll provide a full list of companies slated to provide these products. There are many contracts already signed and ready for final approval.Some, you may have heard of; Loreal, J&J and Vidal Sasoon to name a few.

The following article is proof positive that this phenomenon will indeed take root just as soon as the NID opens at .30 to the US dollar. (right around the corner)


Article:

Baghdad barbers on razor's edge

February 23, 2005


A bomb rips through a women's hair salon, shattering wall-length mirrors and shredding posters of various coiffures.

In another neighborhood, gunmen fire wildly into a busy barbershop, killing the owner and three teenage boys as they wait for haircuts.

Comment by Ned&Joe at February 23, 2005 11:57 AM | Permalink

what is up with the bashing. Are you guys in here to save us all, show us the error of our way. If we invest in dinars we'll have nothing more than worthless monopoly money. Doom and gloom posts crack me up. we're all gonna die dont buy anymore dinars. Quick sell what you can before it's too late. Here I'll post some negative article and scare you. Give me break, if you want bad news about Iraq just turn on your TV. You don't scare me bashers.

Comment by biffreynolds at February 23, 2005 04:34 PM | Permalink

Hey all,

Good to hear we have all sorts on today. I understand the doom and gloom theory, but why not speculate on this a moment. If it is such a scam, why are there major investments in the NID from not only individuals like ourselves, but major investment entities. You must realize there will be some investment. Take 1 M NID for IE. If it raises to only .05 cents against the USD it will be a profit of $49,180 with an intial investment of $820. You do the math and decide. Worth a risk to me.

Keep up the posts. I like hearing from all sides.

Thanks

Comment by scooter at February 23, 2005 05:38 PM | Permalink

What I would like to know is why is the above post from "Ned & Joe". Are their opinions so identical that they both attach their names to it? Or are they so insecure in their position that they are afraid to stand alone? Or maybe they are Saimese Twins....or worse....

To all us NID freaks waiting to make a bundle now hear this.....Ned&Joe are not invited to Hawaii. No surf, no sand, no fun.

Comment by Terrance at February 23, 2005 06:30 PM | Permalink

Sorry to change gears, (I agree with you Terrance by the way). I have heard some rumors on other sites that the price of buying dinars may move up in March, some say maybe even double. This is suppose to be coming from large NID suppliers. Has anyone else heard any of this? Also wondering if the folks in the Iraq area are hearing any of these rumblings?

Comment by buck at February 23, 2005 07:10 PM | Permalink

OK Guys & Gals,

Here's my plan...

I'm going to contact one of the International Baking Institutions in the Grand Cayman Islands - preferably one that's currently doing (or planning to do) business (open a branch, etc.) in Iraq in the near future, to open up an account using my NID / IQD.

Once I do this I'll avoid paying U.S. taxes on any profit that I make from the exchange of my NID for USD, once open FOREX trading takes place with the NID.

The bank will handle all of my currency exchange tranactions (for a small fee of course - far better than having to pay American Taxes) and I'll simply use a debit type card issued to me by the bank to access my account funds, as needed.

I see this as far better, and less riskier, than opening up an Iraqi Bank Account - at least at this point in the reconstruction effort.

I'm still in the research stage of doing this, but it shouldn't be too hard to do.

For your info, during the Off-Season (April through September) Cruises are advertised to the Grand Cayman Islands for as little as $433.00 for a 3 to 4 day cruise. I might just opt to go on one of these cruises and open my account ala face-to-face / one-on-one with the bank while I'm vacationing there.

All-in-all, I think this plan is one of the best yet. (...even if I was the one that thought it up)

If you might be interested here's a link to the Grand Cayman Island Yellow Pages Banking Section:

http://www.yellowpages-caribbean.com/Countries/Cayman/result.cfm?country=KY&Category=Banks&getkey=&CompName=&GetCity=&Island

There's about 74 banks to choose from, so pick wisely.

If I recall correctly, there was a post sometime ago [before Kevin transfered the thread from the old site to this one] that talked about which International Banks were scheduled to open branches in Iraq in the next year, or so (if not sooner).

I'm certain one of them was one of the major banks in the Grand Cayman Islands. ...I'll do my homework and let you know what I find out.

I never like to make decisions in a vacuum, so if anyone out there can explain why this might not be such a good idea, then please speak up...(?)

Thanks,

Bill


Comment by Bill at February 23, 2005 07:28 PM | Permalink

A bit of an update on banks in Iraq-

HSBC & Standard Chartered Bank have been in line
to establish a presence in Iraq
With the security situation as it stands here has been little progress.

On the financial side, a few banking companies, including HSBC and Standard Chartered of Britain, have been granted licenses to open branches in Iraq. In addition, the Export & Finance Bank, a Jordanian investment bank, and the National Bank of Kuwait are hoping to help finance Iraq's reconstruction.
Even with financing from international banks, "it's still too early" for investors to capitalize on rebuilding in Iraq, says Michael Donnelly, portfolio manager of the American Century Emerging Markets Fund in Kansas City, Mo. "It's not feasible for companies to transport large numbers of staff over there. It's still too dangerous. Even some of the Middle Eastern companies we talk to are pretty wary about sending people there."

With a recent development last week NBK has found a way around this;

Foreign lender to buy Credit Bank of Iraq September 20, 2004


Dubai - National Bank of Kuwait, the Arab lender with the highest credit rating, has agreed to buy the Credit Bank of Iraq in what may be the first foreign purchase of an Iraqi bank in at least four decades.

National Bank would hold 75 percent of the Iraqi bank and the World Bank's International Finance Corporation (IFC) 10 percent, said Ibrahim Dabdoub, National Bank's chief executive. He declined to say how much National Bank would pay.

"Iraq's medium-term prospects are very good, because in the end, this insurgency has to end," Dabdoub said. National Bank would take over managing Credit Bank, "hopefully before the end of the year".

The rest of Credit Bank will be owned by an Iraqi family. The IFC lends to private projects to spur economic development.
----

Credit Bank of Iraq is listed on the consortium banks of Trade bank of Iraq(among them:JPMorgan(affiliate:BankOne of Colorado),Standard Chartered,& NBK)

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

So this is good news,as Credit Bank would be an existing Iraqi bank in-country that will act as a conduit to the world markets and many major international Banks.

Comment by JohnLarue at February 23, 2005 08:36 PM | Permalink

correction and clarification on above banks info

NBK is listed a consortium bank of Trade Bank of Iraq -NBK bought Credit Bank of Iraq

Comment by JohnLarue at February 23, 2005 08:40 PM | Permalink

John:
Thanks for the information. It good to see the foreign Financial Institutions starting to move forward into Iraq. I am sure the Financial World will be watching, how this bank performs. If the insurgency problem dies down within the next 6 months, you will see other banks placing applications for future moves into Iraq for 2006.

Comment by Carl at February 23, 2005 08:50 PM | Permalink

Bill!
I find your post intriquing. I would like to know more once you do your research. Keep up the good work.

Comment by Carl at February 23, 2005 08:52 PM | Permalink

OK Guys & Gals,

Here's my plan...

I'm going to contact one of the International Baking Institutions in the Grand Cayman Islands - preferably one that's currently doing (or planning to do) business (open a branch, etc.) in Iraq in the near future, to open up an account using my NID / IQD.

Once I do this I'll avoid paying U.S. taxes on any profit that I make from the exchange of my NID for USD, once open FOREX trading takes place with the NID...

...I never like to make decisions in a vacuum, so if anyone out there can explain why this might not be such a good idea, then please speak up...(?)

Thanks,

Bill
_________

Bill,

I'd like to hear much more of your brilliant and original plan.
When we speak, speak clearly, directly into the telephone.
We can also communicate via the postal system.

For your reading pleasure, take a few minutes with these articles.

http://www.irs.gov/compliance/enforcement/article/0,,id=106778,00.html

Where Do You Report Suspected Tax Fraud Activity?
If you suspect or know of an individual or company that is not complying with the tax laws, report this activity. Reports of suspected tax fraud can be made by phone, mail or your local IRS walk-in office.
By phone:
You can contact the IRS toll free at 1-800-829-0433.
International callers may call their US Embassy or call 215-516-2000 (this is not a toll-free number).
By mail:
Written correspondence can be mailed to the service center where you file your return. Addresses can be found at; Where to File Addresses
Although you are not required to identify yourself, it is helpful to do so. Your identity can be kept confidential. You may also be entitled to a reward.
If you are a taxpayer who lives outside the United States, the IRS has full-time permanent staff in 3 U.S. embassies and consulates and an office in Puerto Rico. Contact My Local Office Internationally has telephone numbers and addresses of these offices.
Walk-in Offices:
IRS Taxpayer Assistance Centers locations can be found at Contact My Local Office.
If you are a taxpayer who lives outside the United States, the IRS has full-time permanent staff in 3 U.S. embassies and consulates and an office in Puerto Rico.Contact My Local Office Internationally has telephone numbers and addresses of these offices.
Frequently Asked Questions - 1.13 IRS Procedures: Reporting Fraud

Tax Fraud Alerts
http://www.irs.gov/compliance/enforcement/article/0,,id=121259,00.html

FY2004 Abusive Tax Schemes Tax Fraud Alert
http://www.irs.gov/compliance/enforcement/article/0,,id=132286,00.html

For anyone else that reads this, I've got dibs on the substantial reward from Bill.

You can have the next clown.

Comment by Elliott at February 24, 2005 03:08 AM | Permalink

John L. A question for you. I have a bank account in Kuwait NBK. How will this be an advantage for me? Thanks,
Jo

Comment by Jo at February 24, 2005 03:55 AM | Permalink

w e l l Gaaaaaaaleee! Elliot or do they call ya Shit Head? iN Alabama our good ole boys would take ya for a little educational ride, and later you would have a "Name Change". Everybody after the ride would be calling ya "Missing"
You're the type of guy I know everyone on this board would "Just Love" to have as a brother-in-law.
Quick! Sis! turn that ole boy's head with "yorer behind the barn talents." "WE GOT US A WINNER HERE, I KNOW CAUSE HE WRITES LIKE A VIRGIN"

Comment by Carl at February 24, 2005 07:17 AM | Permalink

Hey! Terrace!
Please! Please! Please! invite our warm and fuzzy friend "Elliot" to our little together. Elliot, if ya show up, I want to go ahead and extend my invitation to a deep sea fishing trip to ya with some of my friends. After all some of us, would just love to show ya how much we appreciate you being on our board. Don't you fret Now!, We will pay your expenses.

Comment by Carl at February 24, 2005 07:39 AM | Permalink

Hey! somebody stick a folk in him, I believe Elliot is "done" on this board.

Comment by Carl at February 24, 2005 08:00 AM | Permalink

i guess it is safe to assume elliot is not going to HAWAII with you guys, too bad, he probably would have a blast

Comment by tommy at February 24, 2005 08:50 AM | Permalink

Tommy - you are right.

Elliot is out - no Hawaii for him, but you're in if you want to go...

Bill - great thinking.

Keep us all posted on your research. It sounds like a very good idea, and it does not constitute fraud of any kind. We are all above board here, seeking to obey the laws of the land, yet using the avenues availbale to ease any tax burdens. Nobody desires to pay more than required....so good work.

Carl - ease up and take a breath.

I know you southern boys don't take any guff and I respect that. Take a deep breath, keep our cool, ignore the negative banter, and keep the good information coming.

Comment by Terrance at February 24, 2005 10:51 AM | Permalink

terrance, im in, it'll be awesome, 3.2 million NID and counting.

Comment by tommy at February 24, 2005 11:11 AM | Permalink

IF IT LOOKS LIKE IT, FEELS LIKE IT, SMELLS LIKE IT, AND TASTES LIKE IT, HERE IN THE SOUTH WE FIQURE IT IS A 100% PROBABILITY YA DON'T NEED TO SWALLOW
The founder of the Chalabi family fortunes made it
collecting taxes for profit in their town of "Kadimiah" near Baghdad. He was so well loved that he had a gagle of armed bodyguards encircled around him 24/7. Couldn't pay, no problem! He would work a easy pay solution for him, and to make sure you followed through on the agreement, you got to stay at his specially constructed villa until you did. Some guest who stayed there called it a prison, some would just look in its direction and "shook with fear", they couldn't say anything, their tonque was gone. The Chalabis's had become the richest family in Iraq. Of course this was before the 1958 military coup, that closed his doors unexpectantly. When his great,grandfather died, it is said people cried for joy, not sorrow.
Ahmed's Chalabis father apparently had a few extra coins left over from his fathers passing, and earned poltical influence by paying off one of the Royal Families gambling debts.As a reward, he was given a political office, and quickly turned it into lucrative business arrangements.
His Uncle got involved in the banking business, and between the two brothers they learned the art of turning political favor into economic power, then economic power back into even stronger political power.Eventually, they ended up in Lebanon, and married into a powerful Lebanese family in the Shia Community. They started spelling their name "Shalabi" instead of Chalabi like it was in Iraq.
Ahmed Chalabi by all reports from individuals who have had deals with him call him intelligent with a quick sense of business.He graduated from MIT, later went to the University of Chicago where he earned a PhD in mathematics. He quickly got a reputation for having a photographic memory, and some called him "a walking encyclopedia".
In 1977, things start to get interesting with this guy. He up and moves to Jordan, where he opens a bank called "Petra Bank".Fast forward 10 years, and he is now the second largest bank in the country, with links to other family banks and investment companies in Beirut, Geneva and "Washington". He is the one who introduced the "visa card" to Jordan along with being the first to put in ATM's and ATM technology with other banks.He was the darling of the influential businessmen, as he would give them loans when no one else would. Of course the rate just "might" be a little higher. He had significant influence with the top running dogs in the Jordanian Royal Family, and with top businessmen in the surrounding countries and communities.Money was flowing for all, and times were good, until some little egg head in the Jordanian bank regulation dept found out no one was looking at his banks books. The most surprising thing was no one ever had in all the years, he had been in the banking and investment business.
On August 2, 1989, the Jordanian banking authorites couldn't find 30% of the deposits that was regulated for each operating bank to have in reserve. So they took over his banks. Two weeks later, Ahmed put out he was leaving for a vacation, and a few days later cross the Syrian border in the trunk of a friend's car. I guess he is still on the vacation, cause he hasn't returned back to Jordanian soil since that time.
In April, 1992, he was tried in absence, along with 47 other buddies, found guilty of bank embezzlement, theft, misuse of funds,and illegal currency speculation. He was given a sentence of 22 years. However the trial was conducted in a military court, which is not subject to international extradition laws. This prevents his extradition back to Jordan. His brothers were convicted in 2000, in absentia for presenting false bank documentations. This was all they could be charged with, since stature of limitations had ran out on the other charges once discovered. His defense today when asked about it, "It was a political prosecution set in motion by Saddam through his Jordanian lackeys, because Ahmed had been funding groups that were trying to over throw Saddam." In the International Banking Community, everyone knows that he ran his banks as his and his family's "private Piggy Banks".
When the Jordanian Authorities closed his facade, he had managed to remove $215 million dollars out of country. Some say if you take in all of his families banks in other countries that the total comes to over $1.5 Billion. Most of the funds went into Swiss Bank Accounts,and into the British Virgin Islands. This is where bank secret laws stopped the Governmental Investigators cold. (Can we all say in unison now: "The British Virgin Islands")(Don't ya just love the sound of that place.Hey! Terrace, sounds like a good place to get together, what do ya think?, I always wanted to see the water there.(Oh!Elliot! if by chance ya just can't make the flight, we will send ya some of our "MOONING PICTURES") which had been owned by his brothers.These accounts were closed immediately and all funds withdrawn when he went on vacation to Syria.
This was a "Hell I'va Mess" as we say in the South. The Jordanian Government was left stuck with the "pay us back hook" buried so deep, all they could do was squirm. For two years, all of the aid given to Jordan from Saudi Arabia and other Arab Countries went into paying the Petra Depositors back. Ahmed, even today, when asked about the bank conviction will state, "no depositors lost their funds, they were paid back fully", he just conveniently leaves out "who" paid the depositors back.
Remember! I stated earlier a good listener will gain knowledge, about his opponent's intentions. Ahmed has given us all we need to know with this statement, "I built 44 companies throughout the world now that was hard. Politics is very easy. Politics is about money, big money. It simply is a business that pays well if you work it right".
Soon after the 1991 Gulf War, he made a statment, the Americans are about to dump a substantial sum to the Iraqi opposition. "We should go for some of that money". Not being one who sits on his heels, it wasn't long before he was in bed with our own "CIA", and he was in the drivers seat. Boy! was he going to drive this " Money Car" as far as he could take it. A statement was overheard from one of his cronies when Ahmed was meeting the press about his opposition group called the "Iraqi National Congress". "Look at Ahmed,in your heart you know he is a little Saddam".
The "CIA" liked him for various reasons. He knew all kinds of people in not only Iraq, but in Beriut, Syria, Jordan, Iran, etc;. He had no real political power base with Saddam, or anyone else at that time. Therefore was not a liability to either side and created no stir. His weakness at this conflict environment time,was perfect.
It took years for the "CIA" to start fiquring out maybe it wasn't they in the drivers seat, as they thought. If you are wondering if the CIA knew about Ahmed's little bank scheme, the answer is yes. But then again this was a plus, and not a factor. Why was it a plus? In the intelligence business you don't ask about someones character. He grew up in Lebanon, and all his brothers and family had been in the banking business and investment business. Bribery and corruption at the top levels of the Lebanon government and business is common, and Ahmed knew enough to be an instructor in those fields. Besides at that time, congress had limited the CIA's funds, and Ahmed was using some of his to get things done.
Why did Washington like this guy? He put on the dog of being against anything the Arab World believed in. He even agreed to seek Israeli support in the fight, which further bolstered his position on Capital Hill.
In May, 2004, you started to see some of the familiar faces from the his old bank scheme days. At the end of 2004, one of his main cronies, abdul Farouki, formed a new security firm called, Erinys. What is interesting, with no experience in the security field, his firm just received a $80 million dollar contract from the USAID to protect the Iraqi Oil Fields, and Installations. Guess who they are employing as guards? Chalabi's Militia.
Now to top this off, the USAID had given another sister firm,"Nour USA" a contract for $327 million deal to equip the new Iraqi army with uniforms.(Hey!elliot, you were so willing to turn Bill in on a suggestion, why don't ya turn in these guys.I bet ya they are not paying any taxes. Just think at how much do ya think you could get from them, if ya lived through it, ya dumb----) However, there was so much protest from competing bidders, that the U.S. Officials pulled the contract.
Now this sounds like a lot of money, but it is chicken feed to what I am, as they Southern folks say, "Fixing to tell ya".
The real pot of gold is the $16 Billion Dollars of annual oil exports. Chalabi knows this, and as I stated, earlier, he "ain't" one to miss a big fish. He has already opened his tackle box and rigged the hook. This is how he has done it. Using his old fashion way of persuasion, and with a little influence from Saddam's old private intelligence file, he has managed to orchestrate the removal of Mohammed Jibouri, executive director of Iraq's oil marketing agency,who told him to take a hike. This position controls all of Iraqs future oil sales. After being rebuked by Mohammed, within 24 hours, he was forced under guard to vacate his oil ministry office, and his new Iraqi apartment. His sin, he told Chalabi, "the giant oil trading firm call "Glencore" would not be allowed to trade Iraqi oil, due to its behavior in the Food for Oil Scandal, under the former regime of Saddam". In his place was put a old Chalabi business partner. Nabil Mousawi, who is also proxy on the "New Iraqi Governing Council". Chalabi already has a representative traveling with Nabil, as his supposely aid. This aid however, at these Opec conferences is now making oil deals while there. We know of this, because two international oil companies have rebuffed him in his advances, and stated they wanted no part of what he was sitting up. Chalabi denies when being pressed, that he is doing any private business in Iraq. However, several unofficial ports, have recently been built up and down the Shatt al-Arab from Basra, in which he had a hand in getting developed. He refuses to dicuss whether he is involved as share holder in any company or board position.
The recently appointed "Finance Minister" of Iraq, Kamil Gailani, is considered a Chalabi ally. Interestingly, he was a "WAITER" in a restaurant in downtown Amman Jordan, before being put in this position. The head of the 'Cental Bank of Iraq" has been connected in the Investigation to the bank schemes played out in Jordan by Chalabi.(Now as a dinar investor this should send a shiver up ya spine)
GET THIS!! AHMED HAS MANAGED TO HAVE CHALABI'S NEPHEW "SALEM CHALABI" TO BE APPOINTED RECENTLY AS THE ONE OVERSEEING PREPARATIONS FOR THE TRIAL OF SADDAM HUSSEIN. A source in Washington, stated, "This is Chalabi's attempt to get some of his hands on Saddam's billions, he has stashed away". This source stated, "this is not right". "This stolen money belongs to the people of Iraq. If Chalabi gets to it first, there will be very little left for the country".
Why was Chalabi considered so valuable for some time with the CIA. He had direct relations with Iranian Intelligence. Most of his information, was supposely coming from them, which our intellengence agencies were accepting at face value apparently. Apparently it never cross their little pea brains that Iran had a major interest in feeding the American paranoia, and wanted Saddam removed. Most of the Nuclear Intel came from them.Later after we went into Iraq, we found it to be fabicated. As late as 2002, one of Chalabi's field mice, was being escorted under guard to the pentagon, to meet with Deputy Defense Secretary Paul Wolfowitz on detail of Saddam's Nuclear Program. All of course furnished by our benefactor Ahmed Chalabi. Talk about "the tail wagging the dog". What is amazing to me, is all of this crap could have been caught with the most basic counter intel measures.
On Feb 22, the Shia Alliance picked Ibrahim al-Jaafari to be their pick as the new Iraqi Prime Minister. This was only done after, Chalabi agreed to remove himself from being considered. The question is why did he do this?
Sources state he was offered the position of "Deputy Prime Minister In Charge Of Economic and Security Affairs. This also gives him control over the Intellengence agencies, police, etc;(amazingly this is similiar to the position that Saddem was given when he first gained power in the Iraqi Government. Do you think that maybe this is what he wanted anyway? This gives him the power to create any kind of fear with these agencies).
Remember the recent post I wrote about Lebanon's ex-prime minister who left here, "In many different directions"? I am afraid this guy is cut out of the same mold.
Are we, the coalition going to allow him to recieve this appointment? The answer is simple. If he can be of a international benefit to us in achieving our goals, the answer is yes. If not, he may not be allowed to achieve this goal or removed when he is of no longer of use to the powers in charge.
As one well connected Iraqi in the newly form government stated recently,"Chalabi will play the Shia extremist card for all of its worth. He is quite prepared to break apart Iraq if it serves his purpose. When they are no longer of benefit to him, they will be discarded as Saddam did his old benefactors. We view him as the most dangerous man to a "New Iraq".
In Soutern terms, it appears this guy has,"hands dirtier than possum paws".

Comment by Carl at February 24, 2005 11:31 AM | Permalink

Man Carl, what newspaper do you work for? This stuff rivals a Gresham novel. Forget the NID, you should make your fortune writing Hollywood screenplays. Keep up the good work!

Comment by Dave A at February 24, 2005 12:31 PM | Permalink

Het Carl - Great stuff keep it up, Dave is right, you may want to consider a novel. Elloit - Your an idiot, please go away. Bill - plese keep us posted on the banking thing! Finally - can I come to Hawai? Buck

Comment by buck at February 24, 2005 12:59 PM | Permalink

HELLO ALL
WHAT A GREAT ARTICAL BY CARL. THIS IS WITHOUT A DOUGHT A GOOD PIECE OF INFORMATION. KEEP UP THE GOOD WORK CARL.
RON

Comment by RON at February 24, 2005 02:49 PM | Permalink

Buck,

Sorry I left you off of the list for the Hawaii trip. You bet you're in......

Anyone ever had pig from a Hawaiian Beach cooking pit? Terrific stuff - get ready for some of that too when we go....

Comment by Terrance at February 24, 2005 03:05 PM | Permalink

Thanks Terrance, maybe we should all think about a trip to the Grand Caymans?

Comment by buck at February 24, 2005 06:25 PM | Permalink

Hey everybody

currency trading is new to me I have been researching how the forex works and iam confused on the PIP issue that is charged by banks for changing money. high demand currency such as the USD, Euro, Yen etc.. trade at 2-5 PIP but I have heard that other currrency that are not as high demand or should I use the word secure can incurr cost as high as 200-1000 PIPs. and if I understand this right an exchange of 1 NID to 1 USD could be reduced in value to .20 as a result of high PIPs, can anybody explain this in laymans terms and do you know how PIP is determined, I believe it has to to with the BID/Ask figures but again what factors influnece that.

Thanks Kelly

Comment by Kelly at February 24, 2005 10:03 PM | Permalink

KellY:
I will get back to you with an answer that I hope makes sense to you.
Currency trading is a different animal than stock. In a lot of ways in has more advantages, and can be very profitable. But with any horse trading, you are going to lose and gain.The idea is to gain more than you lose at the end of the trade day.
The Pip is simply either your profit or loss when you trade the currency you are holding against another currency. I will go in to detail in a future post.

Comment by Carl at February 24, 2005 10:37 PM | Permalink

hey all, who is this person terrance ? ask me ill tell ya he is a low life in lowest form. i belieive in paying taxes and all that corrupt nonsence, but beleive me ive paid my fair share as like everybody else here. my thoughts on paying 25% capital gain taxes on our taking chances to better our families, thats bull---- I bet the goverment and that idiot terrance wouldnt pay us back if for some unseen reason if the nid fell. SO terrance go lay down by your dish and lick your wounds, and leave these nice people alone. We can hope and dream as high and wide as we want to. Its scum like you that have nothing else better to do with your miserable life than bring someone else down. As for me ill be on that boat or plane in jamaica, sucking up the sun and fun with everyone else while your still tying up the phone lines trying to tell big daddy on decent hard working human beings.

terrance your a disgrace and a scum sucking pig!!!

just MY personal veiw on the subject

DOC

Comment by doc at February 24, 2005 11:50 PM | Permalink

Doc!
I hate to interrupt while you are on a roll, but Terrance is not the one ya should be yelling at. It is Elliott. You are doing all right, just change the name to Elliott.
Terrance is the one paying for your trip to Jamaica.


Comment by Carl at February 25, 2005 12:33 AM | Permalink

Hello Kelly:
I might shed a little light on your currency questions. I traded currencies for about 18 months and got out because the ups and downs were too great for me.
To start with think of the “pip” as a unit of measurement. You select the currency pare you want to trade with. I mostly used the EUR/USD (Euro / USD) alone or I would use the USD/CHF (USD / French Frank) with each other. When the Frank moves to a sell (down) position the Euro moves to a buy (up) position. The movement on the charts are very fast to very slow depending on the time of day. However, the increments in which the currency moves on your chart is referred to a pip’s. In this type of trading the company you are trading under guarantees itself a profit by taking from your position the first 3 or 4 pips depending on the currency pair you are using. In some cases it’s 5 pips. The way company gets the earnings from you is quite simple. When you take a position to buy or to sell you are expecting the market to move in your favor enough to make a profit before you get out. If you are buying the EUR/USD say at (1.3205), immediately on taking the position you are in the hole $30.00 (3 pips). Not until the currency moves to1.3208 are you even. Your work station will display all your moves, details of every contract in force. Each pip movement is $10.00 using a full contract. This is very a simplified view of what pips are. The whole idea is to be able to stay in only when its moving in your direction. You can be ahead $6 or $8 hundred and then within seconds be in the hole the same amount. If your willing to trade at the right times and pay attention only to your charts. Forget the news, and have very deep pockets to stay in for long periods of time, you can make some good money in a short period of time.
I hope this helps.

Comment by Chromeman at February 25, 2005 12:39 AM | Permalink

Hello Kelly:
I might shed a little light on your currency questions. I traded currencies for about 18 months and got out because the ups and downs were too great for me.
To start with think of the “pip” as a unit of measurement. You select the currency pare you want to trade with. I mostly used the EUR/USD (Euro / USD) alone or I would use the USD/CHF (USD / French Frank) with each other. When the Frank moves to a sell (down) position the Euro moves to a buy (up) position. The movement on the charts are very fast to very slow depending on the time of day. However, the increments in which the currency moves on your chart is referred to a pip’s. In this type of trading the company you are trading under guarantees itself a profit by taking from your position the first 3 or 4 pips depending on the currency pair you are using. In some cases it’s 5 pips. The way company gets the earnings from you is quite simple. When you take a position to buy or to sell you are expecting the market to move in your favor enough to make a profit before you get out. If you are buying the EUR/USD say at (1.3205), immediately on taking the position you are in the hole $30.00 (3 pips). Not until the currency moves to1.3208 are you even. Your work station will display all your moves, details of every contract in force. Each pip movement is $10.00 using a full contract. This is very a simplified view of what pips are. The whole idea is to be able to stay in only when its moving in your direction. You can be ahead $6 or $8 hundred and then within seconds be in the hole the same amount. If your willing to trade at the right times and pay attention only to your charts. Forget the news, and have very deep pockets to stay in for long periods of time, you can make some good money in a short period of time.
I hope this helps.

Comment by Chromeman at February 25, 2005 12:42 AM | Permalink

Sorry, didnt mean to post twice. I said correct commnets error and re post. I did and it duplicated itself.

Comment by Chromeman at February 25, 2005 12:46 AM | Permalink

It's a long way from the Elliot comment and it still smells. I dont know which name I dislike more Chalabi or Elliot.

Comment by Chromeman at February 25, 2005 01:00 AM | Permalink

The Only NID activity indicator you'll ever need:

"The dima89-Amer Kawar indicator"

Here's how it works ... go here:
http://search.ebay.com/_W0QQsassZdima89

When this salesman's items start spiking in price
or become scarce, something's about to change.

You'll find he stays in business for years to come. The storys will change, the news will flow - and more NIDs will be sold.

Look no further than the
"The dima89-Amer Kawar indicator!"

Good luck!

Comment by Joe&Ned at February 25, 2005 06:41 AM | Permalink

doc,

i am with carl, why are you yelling at terrance? elliot was the one trying to bring us down with negativities, (if negativities is even a word). terrence is throwing the pig roast on the beach.

Comment by tommy at February 25, 2005 09:09 AM | Permalink

guys sorry about that, got a little left of center on the wrong one. terrance sorry for the mistake, i trully am, but elliot you already know how i feel. was up late last night and just went into a tizzy reading that comment

to all nid holders stay strong this is going to pay off, carl thanks for letting me know my mistake

doc

Comment by doc at February 25, 2005 10:01 AM | Permalink

Just to get a feel for how much business this outfit is doing, check out the feedback section.

http://feedback.ebay.com/ws/eBayISAPI.dll?ViewFeedback&userid=dima89&iid=5754539402&frm=284

This tells you that the business of selling the near worthless NID's is booming and more lucrative than trading them for intrinsic monetary value.

Be very careful. Don't get sucked into spending more than you can afford to LOOSE, or do without for the next 5-10 years.

Those who pray on hopes and dreams of others could care less about the ultimate outcome. And they'll do anything to keep selling you the fantasy.

Be careful!

Comment by Joe&Ned at February 25, 2005 10:04 AM | Permalink

CURRENCY TRADERS BY DEFAULT
To most dinar investors you were just buying "a product" as you would a coke, or TV. But in reality you didn't purchase anything.
You became an,"International Currency Trader" by default. You simply traded your US dollars, which has a certain value on the forex exchange for the Iraqi dinar, that has "no value" on the international forex exchange or anywhere in the international market presently.Plus, if you wanted to trade the dinar back at this time, you would have to travel to Iraq to get your US dollar back.
Plus, you invested in a country, that may either be governed by self serving individuals, or truly good leaders that will eventually develop Iraq into a flag ship of prosperity.
An analogy would be a Mississippi "River Boat" Card Game. Presently individual groups are picking who they think will be their best player of the trade, and who thinks more in line with their idealogy. Next will be the dealing of the cards and the game begins. In the coming months, you will see some of the orginal players replaced with other players. Each group has a heavy stake in the game, and each want to win a portion of the pot, all knowing the pot will have to be shared, but wanting to keep the largest part for their group.
The fact is some will get more than the others. The size of the pot for each party depends on what is traded in the game.
What you haven't taken into count, is you have become one of the major reasons for the game. Your U.S. Dollar, that you traded the dinar for is part of the pot. You did this without having any control of picking a player, knowing which idealogy would be the lead dog, you put your money in a country where stability still does not exist in certain areas, where the country's military would fold like a wet paper napkin, if attacked by any surrounding country, and not having any assurance of whether you would gain anything out of this.
Now! from a professional finance manager's point of view, you can see why "Dinar Traders" are considered crazy. As a matter of fact, I have looked in the mirror at myself, and stated, "I thought you were smarter than this". I realize I have broken every rule regarding investments.
With that said, I know my chances of getting a return back is "GREATER" than my chances of "LOSING".
Why, do I feel that way with all of the uncertainties?
Common business sense and recognizing there are two reliable emotions that has promoted mankind since time. "Greed & Power"
Whether, it be the self serving groups or groups with Iraq's best interest in hand, they all have one goal. Either enriching themselves or enriching the treasury of Iraq, along with themselves. Either way this increases the dinar value on the international market. In order to make this work, they have to play by certain financial
rules. They may not like them, but in order to achieve their goal,it has to be done. They want to be accepted in the international community as a viable, strong nation.You see this is the "WINNERS CARD" for us, the dinar investor. They also are "Dinar Investors", and I guarantee you they own billions of them. They cannot trade the dinar either.So by hook or crook we are all in "back of the truck,eating dust", on this bumpy ride.
The dinar is just as useless to them as it us outside of the country. In order to trade the dinar and enrich their own pockets, they have to get it on the forex exchange market. The Dinar has to be accepted in other countries as a marketable currency. The normal pattern of all dictators and international crooks is to transfer the currency into foreign banks,such as the Virgin Islands, and Swiss Banks. Those banks won't take the currency if it is not legal tender on the international market. Plus, with the dinar as low as it is, either party would enrich themselves more by making sure the dinar increases in value over time. These players are in this for a long haul. The appeal to them is not only greed but power. These two combinations give them the life style they want to live until they leave here. So! we don't have to walk on this ride. Just grab a handfull of shirt tail and hang on. Their going to drag you with them.
So!Joe & Ned, sure there is a whole lot of hype with dinar investors. Taking your point of view, I realize my chances of making a profit is low. But I am "100% POSITIVE" what my chances are if I hadn't invested in the dinar. Given the option of the two. I'll keep my dinar and ticket on the "Dinar Hope Train".
Do ya hear that whistle a blowing? I think the conductor is just about to, "Yell All Aboard"!
Hurry now! I'm holding a seat for ya!


Comment by Carl at February 25, 2005 10:31 AM | Permalink

A few quick notes before we have a beautiful weekend!!

1) Doc - Apology accepted, it was a simple mistake. No worries mate.

2) Carl & Tommy - Thanks for letting Doc know his error in his post. I appreciate the back-up.

3) Ned and Joe - its "prey on hopes" not "pray on hopes". Go back to English 101.

Here's to a great weekend everybody and to the impending fruition of the Larue Scenario.

Blessings -

Comment by Terrance at February 25, 2005 10:54 AM | Permalink

HELLO ALL
SAY CARL, I JUST DIG THE WAY YOU USE WORDS TO PUT CERTAIN PEOPLE IN THEIR PLACE. SAYING THAT, I HAVE MY BAGS PACKED AND AM LISTENING FOR THE ALL ABOARD ALSO. I HOPE THAT WE ALL CATCH THE $ TRAIN TOGETHER.
LUCK TO ALL RON

Comment by RON at February 25, 2005 11:17 AM | Permalink

Fox News reported this morning that Zarqawi was captured in Iraq.

www.foxnews.com

Ed

Comment by Ed at February 25, 2005 11:43 AM | Permalink

Correct that.

Iraqi Soldiers captured an Aide to Al Za-rqawi. My mistake. But hey the soldiers are starting to do their job.

Ed

Comment by Ed at February 25, 2005 11:53 AM | Permalink

Ed!
1/2 correct. It was his top aide.

Comment by Carl at February 25, 2005 11:54 AM | Permalink

I would hate to be that poor bastard, the ISF are putting the screws to him right now to try and find his boss. The good news is, if they keep moving up the snake eventually they will get to the head (slice). This is good news for a stable Iraq! Everyone have a great weekend! Buck

Comment by buck at February 25, 2005 01:04 PM | Permalink

Hey Guys,

Just a heads-up...

I printed off the list of 74 banks that I mentioned in my last post, and have sent out a few e-mail requests for information to a few of the banks; i.e. those that offered e-mail addresses for contact purposes.

The one I'm mainly interested in hearing back from is the "HSBC Financial Services Ltd." bank. The one mentioned in John Larue's post on the 23rd of February.

That's the bank I remember reading about several months back here at the T&B. One of the seven, or so, international banks publicized as being keenly interested in opening branchs in Iraq in the near future.

With that said - now that I think about it - maybe HSBC Ltd. was seriously thinking ahead, with regard to the opening of their branch in Iraq. I mean, we all know it's no secret that the sale of the NID is really booming. And, the bank may have figured that the majority of NID holders [the smart ones - the ones that don't want to go broke paying more U.S. tax than they reasonably should have to] are going to be looking for the most lucrative means of exchanging those Dinar; i.e. through offshore accounts, etc...

And, it definitely wouldn't surprise me a bit if many of their existing wealthy clients (account holders) haven't been buying up Dinar from-day-one, like "hot cakes" - just like the rest of us, and in mega quantities too.

If that's true, then it would stand to reason that it would definitely be in the banks best interest to open a branch in the country who's currency they'll soon be heavily trading in. (...among the other benefits of opening a branch there too)

I can remember a post from the old site where one guy (can't remember his name) mentioned that he had purchased 100 million NID - roughly $100,000.00 USD worth at the time. Having that many NID requires real financial management and security, not just a Sealy Posturepedic Matress. So, I'd be willing to bet a million of my dinar that he (the 100 mil investor) is light years ahead of the rest of us, as far as, securing his investment in some kind of offshore bank account somewhere.

Certainly something to think about...

Anyway, I fully expect to hear something back from the banks soon. And, I'll share it with all...

P.S. Elliot, [in your infinite wisdom] I'd like to hear your feeble attempt to explain to all of us "WHY!?! ...it's OK for the 'Rich' to be able to protect their earnings in offshore accounts - and have been doing so for centuries; but when it comes down to us ittle guys, we can't reap the same benefit/s." ...(???)... Yeah, Right!

Now go have your prescription checked! I think they have you on the wrong medication...

Take care all - I'll be in touch.

Comment by Bill at February 25, 2005 01:22 PM | Permalink

Bill!
Thanks for looking into that valuable piece of information for us boarders. Looking forward to what type of response you get. If Elliot, shows up I will be sure and take him fishing. I bet ya, he ain't never seen a shark up " real close".

Comment by Carl at February 25, 2005 01:40 PM | Permalink

Bill- First off...ignore Eliot! What you are looking at doing is not tax fraud or evasion. If you were to open an account in the Cayman Islands, you would not be required to pay taxes on the interest. Plain and simple, last I checked, citizens are required to pay taxes taxes on income earned in this country. If your money is earned elsewhere, you don't have to pay taxes on it here in the U.S. Here's an example....let's say you live in Florida for the majority of the year....towards the end of the year, you move to California. Of course both of these are in the US, so your Fed taxes are going to be the same regardless of where the money was made. However, when it comes to filing state taxes, you would file California taxes only on the portion that was earned while living in the state of California, and you would file Florida taxes on the portion earned in Florida.....but uh oh! Florida has no State taxes....thus no taxes(state) on that which was earned in Florida!

Second, I'll be the guy in front of you in the line opening the account! This has been my plan since I was 18 and started wishing to win the lottery!

Comment by JC at February 25, 2005 01:52 PM | Permalink

Just getting back to my last question. Thanks John LaRue for the follow up. I am glad for this flow of information. Best of luck to all of the NID investors. I look forward to the potential payback for all of us, as well as to the Iraqi people. For those soldiers who have posted here, rest assured, you and your families are in our prayers.

Comment by Randy at February 25, 2005 04:07 PM | Permalink

HELLO ALL IT IS ME AGAIN WITH A QUESTION.
DOES ANYONE KNOW WHY THE CBI HAS POSTINGS FOR THURSDAY TODAY INSTEAD OF FOR FRIDAY
RON

JUST WAITING FOR $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Comment by RON at February 25, 2005 04:18 PM | Permalink

Bill-
If you read my post(Feb 23rd)
It fully explains the situation at present with the banks as HSBC & Standard Chartered bank

I have contacts in both banks,they are still
not willing to send employees into a situation where they would get their 'asses blown up',shot or beheaded.
pretty simple -until the security situation changes- its a no go

Thats why the news that NBK has bought an Iraq bank;
Credit bank, is going to be first by all acccounts to enter in-country,once in NBK(national Bank of kuwait)will be the 'conduit' to outside world banks.

Comment by JohnLarue at February 25, 2005 05:55 PM | Permalink

SO John L. (newbie totally rookie here) I have an open active account with NBK. How is that an advantage in you view....or others ...if they wish to comment.
THanks,
Jo

Comment by Jo at February 25, 2005 08:53 PM | Permalink

Jo
talk to your NBK rep
the advantage is if NBK owns > Credit Bank you will be able to convert NID before anyone else
would.wouldn't you think so?

Comment by JohnLarue at February 25, 2005 09:06 PM | Permalink

John, that make sense and I do think so. The bank at this time is being very "tight lipped" about what is coming down the pike regarding the NID, but it does appear evident that it is close and in future plans. I just was asking you, because I am a very 'green" rookie and respect your opinion.

Comment by Jo at February 25, 2005 09:11 PM | Permalink

no problem Jo
you can be assured NBK is at the forefront
of all of this, and is assisting behind the scenes re: e-banking(EFT & ATS) ,IT and telecom
infrastructure, bringing Iraq's financial system 'up to speed' for interbank FX market entry.
Just ask any of the contractors in Kuwait
or contacts there.

Comment by JohnLarue at February 25, 2005 10:30 PM | Permalink

Well, Hello guys,
this is the first,(and maybe only,) time i've ever posted onto one of these types of thing, just wanted to say thanks to all, Carl and John especially, for the interesting and helpful info. I work in Basrah, where many people are talking about this investment but not really with any facts other than that it's a gamble, been there for a year now but i never bought any NID myself. I return to work this week from a little R&R and have decided to go for it, anyway thanks and best of luck to all, here's hoping for the best.

Comment by Ian at February 26, 2005 12:03 PM | Permalink

Hey! Ian!
Stay in touch with the board and let us know what is going on in your area.Keep yourself safe.

Comment by Carl at February 26, 2005 01:09 PM | Permalink

This also is my first post. It has been good reading this thread - a ton of excellent information and opinions. There are some truly good minds weighing in here.

A few weeks ago, a friend of mine showed me the the 1/4 million dinar that he had bought and ever since then I have been doing a great deal of research on whether or not I should get involved. Thanks to all of you for posting here with what you know and what you think will probably happen.

Well, I have since liquidated a small portion of my investments in order to speculate on dinar. I emphasize "speculate" not for any of you, but in order to reinforce for my own thinking that this is an extremely high risk endeavor.

My main comment here is to say this: Don't slam the nay-sayers. You need them to help you keep your thinking clear. Anytime someone challenges your decision to buy dinar, you have another opportunity to think through the good and the bad possibilities of the "investment." If your confidence in buying dinar is shaken by a comment on this thread by someone like Elliot or Bill, then you should never have made the "investment" in the first place. If anything, you should encourage comment which challenges your position. Without it, the people here will trudge along "as lemmings unto the sea." I'm not saying, "don't go to the sea," I'm just saing that you should make the voyage because YOU want to, YOU have weighed the pros and cons, YOU have determined that it is good. If you need Carl and John LaRue to make your decision for you, then you should give them a large chunk of your money that you make if the dinar goes the way they think it will. But I hardly think Carl or John will take the responsibility for your loss if the dinar tanks.

I am going to buy dinar with MY money. I am going to keep up on the market, and do what I can to minimize tax liability, but I will pay MY tax in the event I profit - pay Caesar what is due Caesar.

One final comment: calling people losers and idiots or threatening to introduce others to the sharks only promotes narrowmindedness and mob-mentality. We are all too smart for this. Let's stay positive, and learn from our opponents.

David

Comment by David at February 26, 2005 01:47 PM | Permalink

God speed to everyone who has vested in NID. I have a question for anyone who may know. Must you be a resident of Dubai, Bahrain to open an account with a finanicial institutionin that country? Would like to open an account & place my dinar there(safe deposit box)when I go there every month to buy them. I am currently working in the Middle East but do not reside in either if these countries. The Cayman's is an option although I do not forsee going there within the next year,preferably during the "off season" This site has been very informative thanks to all who contributed, with the exception of those who choose to decieve us with preposterous rumos & lies. Mr. LaRue, hope to see you in June!

Comment by Bobby at February 26, 2005 01:50 PM | Permalink

carl/john
pardon my lack of knowledge on this stuff, but now that they captured the top Aide to Al Za-rqawi, doesnt the next guy in line just step in and take over where he left off, i read today that we are just two weeks behind catching al zarqawi, but if that happens, someone else will just become the main guy, right? it will probably never end, i apologize for sounding a bit negative, just wondering when it could possibly end. we need to get that pig roast going, terrance is cooking. everyone have a great weekend, tommy

Comment by tommy at February 26, 2005 02:07 PM | Permalink

Is www.safedinar.com a good company to buy from?

Comment by Bill at February 26, 2005 02:56 PM | Permalink

Bill, Ive been buying the NID for about 18 months and from 4 differnt places. This one you refer to bets them all. There prices are very good, and the two e-mails realy help also. The tracking No. is very important. Good luck, dont spend more that you can afford to.

Comment by chromeman at February 26, 2005 04:19 PM | Permalink


I have bought twice from safedinar and had no problems except it is better to order early in the week. But really, how can yo ugo wrong with COD??

Comment by ERS at February 26, 2005 04:31 PM | Permalink

Hello - Great info everyone. Does anyone know if NBK has any banks in the US, or for that matter the Grand Caymans? They seem to be the one bank on the inside of the Iraq economy/currency, so I would think they woulfd be the best baking system to deal with.

Comment by buck at February 26, 2005 09:42 PM | Permalink

I have an account with NBK. To my knowledge they have no branches in the US and no immediate plans to do so. To my knowledge, to open an account with them you have to do it in person in Kuwait. Once the account it open, it is accessable online. I know that NBK is very involved with the banking system in Iraq and Hope that I can work that to my advantage one day soon.

Comment by jo at February 26, 2005 10:10 PM | Permalink

Jo, so could I go there (Kuwait) and open an account with NBK without being a resident? Do you know the minimum deposit to open an accout?

Comment by Bobby at February 26, 2005 10:55 PM | Permalink

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

Comment by Lonny at February 27, 2005 06:33 AM | Permalink

Bobby,
I can only tell you what I know. My husband, not a resident but an employee of an Kuwaiti company that is contracted by the US military had no trouble opening an account as a US citizen, but it was required to do it in person. The bank account was set up with no minimun deposit.I am sure that you could email the bank and get answers. They are very quick and totally online.
http://www.nbk.com
Good Luck!

Comment by Jo at February 27, 2005 09:56 AM | Permalink

http://www.arabtimesonline.com/arabtimes/business/Viewdet.asp?ID=3477&cat=a

NBK will not open private accounts in USA/NY
for this very reason
NBK in NY is limited to Kuwait citizens and corporate(trade) accounts with partners in trade

Comment by JohnLarue at February 27, 2005 11:01 AM | Permalink

EDITORIAL

Better financial policies needed to fight inflation in Iraq

Noozz Editorial
Feb 27 2005

Iraq's Central Bank issued yesterday a statement ushering in its efforts to stabilize the country's financial and monetary policies as well as fighting inflation.


The bank said in its statement that the recent waves of price increase over the past few months had not affected, so far, the purchasing powers of the Iraqis. The bank added that it would reform within the context of its jurisdiction to maintain balanced monetary policies that secure stability in the market.

Treasury bonds, facilitating banks credits and the sales of foreign currencies are expected to help the bank control the ongoing inflation.

The bank called upon all concerned authorities to cooperate to secure better financial policies.

Well good news or bad ? LOL

Comment by michael at February 27, 2005 12:03 PM | Permalink

RE: above article

Treasury bonds, facilitating banks credits and the _sales of foreign currencies_ are expected to help the bank control the ongoing inflation.

Sales of the NID are Iraq's chief export it would seem
yesterday CBI sold 26 Mil

Comment by rws at February 27, 2005 01:34 PM | Permalink

Looks like there's a second "Bill" posting here, asking about where to purchase Dinar, and such.

In that case I'll be "Bill(1)". The Bill talking about HSBC Bank and the Grand Cayman Islands.

Thanks for the clarification John on HSBC and their current position.

I have visited their website and found out that they have branches in Dubai too. So, as soon as they feel the situation is tolerable (as you put it John) in Iraq, I'm certain they'll get in line to get their foot on Iraqi soil along with everyone else.

Still haven't heard anything back via e-mail from the banks. Starting to get the feeling they're not taking me seriously. So, one day soon I'll make a long distance call to the bank to obtain a point of contact to help get the dialogue rolling.

"I know nuh-thing!" (Sgt Shultz of Hogan's Hereos fame - the funniest guy on the show) of NBK Bank, but for some reason have a "warm and fuzzy" about HSBC. So, I'll stay the course with them, and will probably take that cruise I mentioned this Summer.

If anyone else opts to take that cruise too, look for the guy wearing the shirt designed in a 25,000 NID motif - ...that'll be me.

Cheers all.

Comment by Bill(1) at February 28, 2005 08:43 AM | Permalink

http://www.postgazette.com/pg/05058/463080.stm
Jack Kelly:

All but wonThe media can't see that Iraq is close to secureSunday, February 27, 2005

Comment by x at February 28, 2005 03:21 PM | Permalink

HELLO ALL
THIS GRAND CAYMAN ISLANDS TALK HAS GOT ME THINKING ABOUT ATRIP ALSO. IT WOULD BE NICE TO JUST USE A VISA. MAYBE WE SHOULD ALL LOOK AT THIS IN A HARD WAY. THERE JUST MIGHT BE SOMETHING HERE.
GOOD LUCK AND GOOD THOUGHTS. RON

Comment by RON at February 28, 2005 06:12 PM | Permalink

Well Osama Bin Laden is back in the news today, wanting to kill all americans. Even asking Zarqawi to target the US homeland.

http://story.news.yahoo.com/news?tmpl=story&cid=564&ncid=564&e=1&u=/nm/20050228/ts_nm/security_binladen_dc

I just dont understand why the most wanted man in the world has a bounty for only 27 million dollars. Would it not be worth a billion or so to the world to be rid of this coward? I really dont get it, if more money were offered, someone would turn his ass in. If I knew where he was, I would go get his cowardly ass and slap him around a bit and turn him over to the US government at no charge. I just think 27 mil is too small a price for his head. Hell some of us may make this much on dinars someday!!!! just my opinion guys and gals...... Thanks

Comment by Michael at February 28, 2005 06:37 PM | Permalink

Mr. "X" thanks for the article reference. Best I seen in a long time. It has made my day. I've e-mailed it to three other. All NID owners must read.
Thanks again

Comment by Chromeman at February 28, 2005 07:04 PM | Permalink

Michael;
Where the "O.B." is the people around him don't really care that much about money. There preseption of life is too blurred by there visions of vergins. One Mil or twenty Mil same results.

Comment by Chromeman at February 28, 2005 07:12 PM | Permalink

Anybody know what happen to the Investors Iraq forum. I am going into withdrawels from not being able to access it!!LOL

Comment by usajmg93f at March 1, 2005 02:30 AM | Permalink

Here it is www.investorsiraq.com/index.php?

Ed

Comment by Ed at March 1, 2005 09:37 AM | Permalink

" Here it is www.investorsiraq.com/index.php? "

^^ best dinar site on the web ^^

Comment by Xx_Exar_Kun_xX at March 1, 2005 12:28 PM | Permalink


hi to all and good luck to all

tinkerbell is back, also having withdrawal
symptoms, found investors iraq forum by
going on search engine. but when i tried
to read mail. all I got was :page cannot
be found. sure would like to find out
what happened, did they change their url?
read the forum daily, but on 28th they seemed
to disapear.

tried the above site several times with no
luck, frantic. can anyone help?

my best to all of the brains on this site
which i keep up with on my investment.

tinkerbell

Comment by tinkerbell at March 1, 2005 02:05 PM | Permalink

Its been happening every now and then the past few weeks to a lot of people including myself. All that I did was reboot the comp and I was fine after that. If you can manage to get through theres a thread about the issue at http://www.investorsiraq.com/showthread.php?t=4128

Comment by Xx_Exar_Kun_xX at March 1, 2005 02:21 PM | Permalink

thank you exar_kun

finally got it back, thanks for the link.
got it at " www.investorsiraq.com/forumdisplay.php?f=2 "

glad thats over
thanks again

tink

Comment by tinkerbell at March 1, 2005 02:40 PM | Permalink

Hello, I am working over in kuwait as a contractor and also got me some funds invested in the iraq dinar. I have read many articles from here and other places and there is no doubt that the iraq dinar will be fruitful. First they have the resources, all three, the people are educated, the raw materials, and most of the entire world (finance) and the will to want to do better so u put all 4 together and u got a country heading in the right direction. I have did my homework and looked at both kuwait and and both of there dinars started going up once the military starts pulling troops out of the foreign country. In other words, stability plays a key part on when and the more secure they get and weed out these insurgents the quicker we start seeing our investment. I personally am looking for a very small movement around June and July. The best way is to determine how much the iraq dinar will be to the us dollar is through price index. For instance, once we can figure out what the avg iraq is paying for a common commodity we can then take the dinar value of the item (s) and get the ratio what it is equal to in us dollars. this will be the market price, most other countries compare there money to the us dollar. I, personally, think it will at about .02 cents. All of people have overlooked afganistan but if someone would of invested lets say 3500.00 american dollars in afgan donar which is about 16 million afgan money, would be looking at 497,000.00 us dollars. Also, looking back, both, kuwait and afgan dinar made a dramatic jump in the first of jan. so initially, i look for a small jump in june and then a better one jan 06. This is just speculation on the time frame, but the real big gain comes down the road like 8 to 10 years. i can guarantee u that. well thanks for reading and if yall get time, do some research on the afhan dinar from the time before they started the war and present and u will see it has jumped like 110 times just in 1.5 years and it all haves to do with stability, (military starts leaving then the money goes up) also why i belief the money is going up a little in june is that i work in kuwait and about 3/4 of our work staff is leaving kuwait and moving to iraq, meaning that things are getting little more stable to bring more civilian in iraq .

Comment by Hank at March 1, 2005 04:08 PM | Permalink

Hank;
Very good post. It is apparent you have done your homework. These are the types of post that are full of information investors can understand, and gives us a dinar barometer of measurement, as to when the dinar may possibly move in a positive direction.

Comment by Carl at March 1, 2005 05:47 PM | Permalink

Good post hank, Thats the way I feel also, Hope were correct man!!!!!!!!

Comment by michael at March 1, 2005 08:58 PM | Permalink

HANK
THANKS FOR THE UPLIFT ON THE NID. THERE IS NO DOUGHT THAT THE NID IS GOING TO GO UP. THANKS AGAIN HANK FOR SHAREING THE OUTCOME OF YOUR HOMEWORK. GOOD LUCK OVER THERE AND GOOD LUCK TO ALL. RON


Comment by RON at March 1, 2005 10:59 PM | Permalink

Hank said;
All of people have overlooked afganistan but if someone would of invested lets say 3500.00 american dollars in afgan donar which is about 16 million afgan money, would be looking at 497,000.00 us dollars.
-------------------------------------

Not quite,that's mis-information,I'm afraid
no one made out as you claim

for the simple fact that Afghanistan revalued & reissued their currency in transition in 2003 -they simply chopped two zeros
similar to the turkish lira's transition

If you bought 1'000'000 afghani's in 2002 for $211.58
they became 10'000 new afghani's in 2003 worth $233.70
----

01/01/2003 4726.30 Old AFA currency per 1 US $
0.00021160 US $ equivalent

revalued /reissue to;

01/02/2003 42.7850 New AFA currency per 1US $
0.023370 US $ equivalent

You had until Jan 6th 2003 to trade in the Old notes for new-112 old for 1 new note after Jan 6th the old notes were no longer valid currency

further the old afghani was not traded and there was no market for it(rates fluncuated tremendously(4726-5000)
The new Afghani is not traded and their is no market for it
so it is next to impossible to obtain conversion to USD unless you are in Afghanistan
no one will touch it at exchanges in US

Comment by JohnLarue at March 1, 2005 11:41 PM | Permalink

Hank where do you get your info from?

Kuwait made a dramatic jump?
been stable at 3.39-3.40
afghanistan same no move
03/02/2005 42.7850 last 7 months

you can research any currency history here;

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

including the NID that was at

The rates for Saturday, 15th March 2003 war starts 19th

1 USD = 3250.3 IQD
One IQD = 0.0003 USD

1 IQD = 0.0003365 USD
One USD = 3249.9187 IQD

contrary to the claim that it was at 33 cents
before OIF no truth to that whatsoever
its a story invented by the dinar sellers

Comment by red at March 2, 2005 01:58 AM | Permalink

red, does that mean when the nid opens up, it could actually be worth half of what we have invested? 1,000,000 nid would be equal to around 300-350 usd? uh oh!!!!

thanks for info , tommy

Comment by tommy at March 2, 2005 07:18 AM | Permalink

John Larue, what is your opinion about the Dinar being devalued & reissued, do you think thay would do that; I think it would be a bad thing for their country, if you are an Iraqi and have saved all your life and have enough to live comfortible on and now the government takes half of it away, that would not be good for the country.

Comment by CHAD at March 2, 2005 09:21 AM | Permalink

chad re: a currency change in Iraq ;

In February 2004, the Iraq applied for recognition by the World Bank. They have since been under observation for monetary stability. Another currency change would epitomize instability. The Iraqi people need to have confidence in their currency if they are expected to use it instead of US dollars. They have taken well to the new dinar. If the government were to change their currency again, it would seriously undermine the trust they have cultivated in recent months and is, though not impossible, extremely unlikely.

Comment by JohnLarue at March 2, 2005 09:47 AM | Permalink

HELLO ALL
JOHN I THINK ALONG THE SAME LINES AS YOU. TO CHANGE THE CURENCY AGAIN NOW WOULD WITHOUT A DOUGHT DESTROY ALL THAT THE WHOLE WORLD HAS PUT INTO THIS COUNTRY. I DO NOT BELIEVE THAT ANY COUNTRY IN IT`S RIGHT MIND WOULD EVER TRUST OR HELP IRAQ AGAIN. LETS NOT FORGET THE GREAT PRICE THAT HAS BEEN PAID. I BELIEVE THE NID AND IRAQ WILL BOUNCE BACK TO THE TOP ONE DAY.
GOOD LUCK TO ALL RON

Comment by RON at March 2, 2005 10:41 AM | Permalink

Thank you very much John for your reply, I value your opinion very highly, that is the information I have been looking for on this subject. What an exciting time to be alive to watch this happen in the middle east, to see the people, after years of opprression, stand up and say thay have had enough and fight for thair freedom, I hope that the people in Iran & syria do the samething.

Comment by CHAD at March 2, 2005 10:44 AM | Permalink

thanks john.i had a lot of questions about afgan currency.the basic point was that they are at .02 and not opened to trade.iraq could do the same thing ,but just at the start.come out with a price ,adjust the isx stock prices.then open it up to out side investors.letting the people inside iraq holding cash and stocks make lots of money.outside investors would still do well but not at 1460 to 1 ratio.those of us who have cash outside iraq is such a small % ,when looking at the big picture.watch out when saudi and kuwaut reduce there debt!this will not take 5to10years,by then it will be one middle eastern currency.thanks

Comment by bert at March 2, 2005 11:35 AM | Permalink

Take a look at the Country Analysis Brief that I ran across. It was done by the US Enery Information Administration. It discusses interesting aspects of the country's economy.

http://www.eia.doe.gov/emeu/cabs/iraq.pdf

Comment by Christopher at March 2, 2005 02:56 PM | Permalink

In hanks defence!!

Using (http://www.oanda.com/convert/fxhistory)like I am sure most here do, bouncing back and forth with the CBI to see daily sale rates. I could tell right off that Hank had used a number like the one listed on onanda for Afgani without the understanding of the RE-VALUED Afgani. Easy mistake to make if you didn't know all sides of the story. As to how the NID will stack up in the world eco is any good mans guess. Time is the only real winner in that discussion, time will tell.

What the hey I say, whats a 2000 USD drop in the bucket if we all get a good return, not so goo if we all go belly up. Hell, I spent that much on car parts for my 69 nova this winter. If all goes south I guess I could have had a better motor with that 2000 but o-well, got spent money to make money.


John, And Hank, it's all good, we're still reading all posts from everyone except Elliot.

Comment by John J at March 2, 2005 04:13 PM | Permalink

What in the world is going on with Investor's Iraq forum? Haven't been able to log on in DAYS!

Comment by neptune at March 2, 2005 10:43 PM | Permalink

Neptune

Just visited the site. here it is.


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


Comment by Ed at March 3, 2005 09:36 AM | Permalink

Huge growth rates expected increases in investments may lead to general growth of about 17 percent in 2005, 15 Dr. Faik Ali Abed-Elrasoul, a deputy at the Iraqi ministry of planning said that the increase in investments may lead to general growth of about 17 percent in 2005, 15 percent in2006 and 6 percent in 2007. The deputy expects that income per capita to rise from $780 per year in 2004 to $1156 in 2007. Abed-Elrasoul, according to Alitihad newspaper, added that the World Bank and the UN estimated the cost of rebuilding Iraq at us $36 billion until 2007. In this regard, he expressed his optimism and said that Iraq is on the right way for economic revival.

2005 Mena Report (www.menareport.com)

Comment by Chromeman at March 3, 2005 11:38 AM | Permalink

Great read!

Comment by ALAN at March 3, 2005 01:04 PM | Permalink

http://isx-aman.com/news/rep_2005_03_02.htm

Comment by alan at March 3, 2005 01:05 PM | Permalink

Iraq credit card company launched
01-03-2005 , 05:02
In the first such move since the ouster of Saddam Hussein, Iraq's Central Bank Tuesday announced the founding of the National Company for Limited Financial Services in the southern city of Basra.

The Central Bank said in a statement that the firm will specialize in issuing the Al-Fayhaa credit card. The statement quoted Director General of the bank's Basra branch, Zuhair Ali Akbar, as saying that the company is privately-owned.

Akbar said that credit cards will soon be used in Basra, then the rest of Iraqi cities and the outside world, following an agreement between the company and the Middle East Bank.



Comment by Ryan at March 3, 2005 03:29 PM | Permalink

Until the NID is traded on the FOREX it is pointless
to obsess over the price fluctations on various web sites.

It is merely a collectible novelty item until then, granted with the potential to increase in value over a long period of time.

The investment shoud be viewed as a lottery licket with a shelf-life of about 5-10 years minimum for an type of pay-off.

Your money will historically double in the stock market every five years. That's the way to view the NID. *Not* like an "Instant Millionaire" jackpot gamble.

The currencey WILL NOT begin to trade on the world market while the suicide bombers are active. It is not a safe and stable environment.

It's a glass, half-full, half-empty scenario. On the one hand it's an infested cesspool of terrorists, and on the other it's a country withe hug potential. Good VS evil - it's thte way of the world and of human history.

Comment by Joe at March 4, 2005 05:51 AM | Permalink

For the “glass half full” crowd you have websites like Portal Iraq
http://www.portaliraq.com/ with an never ending of uplifting positive information.

A more realistic and balanced view must be taken when thinking of the situation though. For every positive thing that’s reported there, another suicide bomber kills more people. Things are NOT STABLE ENOUGH in Iraq for the NID to begin trading on world currency markets. Period.

The people who have already purchased truck-loads of new Iraqi currency want to sell them to you, as it’s a very lucrative endeavor and they’re making tons of money doing it. They’re making 30-50% profits. Some sellers will try and manipulate buyers by claiming shortages of lower denomination bills, or that the price of the NID is “Finally Going UP!” as one ebay seller recently touted, when in reality until the currency is traded on the Forex world exchange, it’s total speculation.

In what I call the “Dima89 Ebay Indicator” you’ll see that there is no shortage whatsoever of the NID. http://search.ebay.com/_W0QQsassZdima89
If anyone says there is, just send them to dima89’s auctions on ebay for the definitive answer on that.


The NID is nothing more (at the current time) than another “Tulip Craze.” For those who don’t know what that was, it was when (in the 1600’s) tulip bulb prices inflated to incredible heights, reaching sums equivalent to a house on the best canal in Amsterdam. Anyone and everyone got in on the trade, and no one bothered to wonder what a tulip bulb was really worth because there was always some sucker who'd buy yours for an even more outlandish price. Sound familiar? Just substitute “tulip” for “NID.”

People bid on tulips, examined tulips, read about tulips, talked about tulips, fought over tulips, and fantasized about tulip-fueled fortunes, just like they’re doing with the NID. If you think it can’t happen in modern times, just go back 5 years to the net bubble, and you’ll realize it can. And it will again. It may be happening right now with the NID.

There’s a great story to be told in Iraq, but right now it’s fiction, and it’s fueling the current NID craze.

Do not become obsessed with the NID and the fact that you’re buying a million dollars of currency. A million sheets of toilet paper will wipe your ass for quite a while, but it will not make you a millionaire!

It will be at least 5-10, perhaps 20 years until things change enough to bring about a stable Iraq. The terrorists are growing and getting smarter. The world’s most wanted cannot be caught.
http://www.boston.com/news/nation/washington/articles/2005/03/04/in_hunt_for_bin_laden_doubts_raised_on_skills_funds/

Fanatics anywhere are forces to be reckoned with and unless the US gets real unwavering and sustained support for other nations, (which they’re not) the current situation will continue, just like the Palestinian / Israeli conflict. It took four years for the fanatics to stop blowing themselves up there. It could very well take 4-5 years for the terrorists in iraq to stop as well.

Be sensible, be smart. Nobody’s going to be a millionaire anytime soon. Buy your dinars, and forget about them for 20 years and you may be pleasantly surprised. Don’t waste your time and energy glued to the screen to find out when the newly elected primeminister of electricity and water farted. It’s going to be many years until things settle down in Iraq.


Comment by Joe at March 4, 2005 09:36 AM | Permalink

JoeD

The problem with your 5-10, 20 year scenario
before the NID begins trading;

Is Iraq is scheduled to open the ISX(Iraq stock exchange) for foreign investors- target date June 2005

In order execute stock trades on an international level , the NID has to go interbank
and trade as such

Pressures from the market will dictate when the NID trades sooner than later

If you "put your NID in a shoebox" and forget about for 5-10 years you could 'miss the boat'
as CBI will likely have a reissue of new notes
as of 2007-2009.

As holders of NID we had better hope that the NID is being accepted by Major banks before this occurs, or those not in Iraq will be left out with no way to convert to USD.

Comment by JohnLarue at March 4, 2005 10:22 AM | Permalink

Iraq gets ready for it's accession to World Trade Organization

http://www.menafn.com/qn_news_story_s.asp?StoryId=82550

Comment by JohnLarue at March 4, 2005 10:33 AM | Permalink

Points taken JL, but I can assure you - if the current lack of stability doesn't improve or worsens, your June prediction will be pushed back in a serious way.

Comment by Joe at March 4, 2005 11:03 AM | Permalink

JohnLaru: can you give a percentage figure on the likelyhod of this happening? "CBI will likely have a reissue of new notes
as of 2007-2009" Can you reference me to any informetion in this subject?

Comment by Chromeman at March 4, 2005 12:38 PM | Permalink

After reading John's post. The best bet is to sell off your large notes on e-bay and buy the 500 Dinar note in large quantities. I think we will be safe with the 500 note... even lower if you can get your hands on them.

Good luck to all and get to swapin' before it's too late!

Comment by Ian T. at March 4, 2005 01:25 PM | Permalink

Iraq gets ready for it's accession to World Trade Organization
MENAFN - 03/03/2005

(MENAFN) Iraqi officials are preparing with the cooperation of the United States Agency for International Development (USAID) Private Sector Development II (PSD II) program for it's accession to the World Trade Organization (WTO).

According to USAID, this is an important step for Iraq in terms of its reintegration into the community of nations and its emergence as an open, vibrant market economy.

PSD II advisers are currently working on drafting sample WTO-compliant legislation and supporting Iraqi officials in strategizing reform activities.

http://www.menafn.com/qn_news_story_s.asp?StoryId=82550

Might I also add this was found on the TBI website news ticker.

***This was pulled from Investor's Iraqi Forum***

Comment by Scott at March 4, 2005 01:38 PM | Permalink

HELLO ALL
IS THERE REALY ANY GREAT THREAT TO THE 25000 NID BILLS OR IS THIS ANOTHER SLAM TO THE NID HOLDERS.ALOT OF PEOPLE DO NOT HAVE ANY THING BETTER TO DO THAN TRY TO STIR UP PROBLEMS FOR GOOD PEOPLE TO FRET ABOUT.
RON

Comment by RON at March 4, 2005 01:52 PM | Permalink

ISX to open for non-Iraqi investors, Feb 26,

After a long wait the government of Iraq has given the green light for opening the Iraq Stock Exchange for trade in Iraqi equities to non Iraqi investors. Reliable sources say that the Council of Ministers, in a written letter to the Iraqi Securities Commission last week, has approved the trade for non Iraqis in the shares of Iraqi joint stock companies listed in the ISX up to the limit of 49% of the outstanding shares of the companies. No other restrictions are to be put in place. The ISX currently boasts some 85 listed companies with a capitalisation value exceeding $1 billion.

The predecessor of the ISX was The Baghdad Stock Exchange. It opened in1993 and continued in operation right into the start of the 2003 war. The market remained closed until it was reopened under the umbrella of a new organization; the Iraq Stock Exchange, ISX, with resumption of trade on June 24 2004. The reopening was carried out under an interim securities law, Order 74, promulgated by the Coalition Provisional Authority and endorsed by the Iraqi government. Under the new law regulatory oversight over the exchange was taken away from the Finance Ministry and given to a newly created Securities Commission. The ISX was reorganised as a self-regulatory organisation managed by a nine member Board of Governors mostly from the private sector.

The ISX has been lobbying hard since last summer to open up trade for non Iraqis in compliance with standing laws. It felt that the market was a natural place to attract much needed foreign investment into dilapidated Iraqi corporations in the manufacturing, agricultural, transport and tourist sectors. The banking sector was already making moves to enter into direct partnerships with international banks in deals that were struck outside the capital market. The ISX estimated an immediate need for some $10 billion of liquidity in the market as listed companies sought to build up capital to refurbish their operations. These companies, it was felt, were also in dire need for capacity building especially in international management practices, a task that can be part and parcel of foreign investment in these companies.

The recent move by the Council of Ministers is historic in that it has overruled some opposition from the entrenched bureaucracy still locked in old outdated thinking advocating state control of all economic activities including foreign investment. The delay in opening up is squarely blamed on such opposition.

However, it remains to be seen when and how the opening up move will be put in practice. The ISX is in favour of introducing simple but effective rules that will safeguard investors and prevent money laundering. Such rules have already been put forward to the Iraqi Securities Commission. The ball is now in the court of the ISC and the commission is once more under test. The ISX will not likely take the practical step of opening up without approval of the ISC of administrative and trade rules for non Iraqi investors.

Trade in the ISX is still manual. Share certificates are still issued by the registrars of individual companies. These factors, however, should not stop the ISX from opening up immediately. The present systems in operation, though inefficient, but have enough checks and balances to safeguard the interests of investors, Iraqis or otherwise. Moreover, the ISX, is believed to be working hard on the introduction of state-of-the-art automated electronic trading system, and a central depository, clearing and settlement system. These system will not realistically speaking be in operation for some time to come.

Opening up will highlight more then ever the need for the ISX to enforce better information disclosure standards including the timely publication of quarterly financials on international accounting standards by the listed companies. This may be easily said but difficult to enforce immediately and may take some time before it becomes a regular practice.

Meantime the market has already witnessed a marked rise, especially in the Banking sector, in anticipation of this move. Share prices of listed banks have soared by as much as 30% in recent sessions. Market experts say that the banking sector will naturally be the first to benefit from opening up.

Hotels and real estate companies are probably second in line. Manufacturing and agricultural companies will need to prove to foreign investors the worthiness of their companies before foreign capital will flock in. Many of these companies, though endowed with plenty of assets, especially prime commercial land, good market share, and well established businesses, are yet suffering from antiquated and run down machinery and outdated management structures.

First come first served. Those investors that will first venture into the market will naturally carry higher risk. In return they will likely make exceedingly higher returns as they position themselves early in a very promising market. In regional markets the bulk of foreign investment has come from regional Arab investment houses. It remains to be seen if this pattern will also prevail in Iraq's capital market; though experts say that international investors are closely eying the Iraqi market. Much of all this will depend on the speed and efficacy of economic reform, trade liberalisation, macro economic stability and perhaps of most significance privatisation plans which are still to be initiated. The fluid but improving security situation will of course remain a constraining factor.

DISCLAIMER: This document has been compiled and issued by Kubba Consultants, which has obtained the information from sources it believes to be reliable, but Kubba Consultants makes no guarantee as to either its accuracy or completeness and has not carried out an independent verification. Kubba Consultants accepts no responsibility or liability for losses or damages incurred as a result of opinions formed and decisions made based on information presented in this report. This document is not an offer to sell or solicitation to buy any securities. The opinions and estimates expressed herein are those of the issuer.

© Kubba Consultants 2004


Comment by alan at March 4, 2005 01:58 PM | Permalink

Joe:

He just farted again.

Comment by Scott at March 4, 2005 01:59 PM | Permalink

Joe:

He just farted again.

Comment by Scott at March 4, 2005 02:00 PM | Permalink

What has happenned to Investors Iraqi Forum?? I have continually tried at all hours of the day with no luck. I am not a computer guru so any help I would appreciate. I have tried turning off computer and trying again with no luck. Has the site had some internal problems and maybe started up again by another name? I relied on it for only getting some feelings on what people are thinking. I'm not expecting to be an overnight millionaire because I can't afford to buy that much. I am hoping for something in less than 5 years. Please help if anybody has an answer or even a guess as to why I can't seem to access this site. Thanks!!

Comment by fishingsfirst at March 4, 2005 03:41 PM | Permalink

Here is the website...it pops right up for me???

http://www.investorsiraq.com/

Good Luck!

Comment by Scott at March 4, 2005 03:54 PM | Permalink

Joe's going to kick himself when he finds out 15 to 20 years later that the dinar he has is no longer being traded. Obviously Joe is full of BS since he can't help himself going to forums to check the status of the dinar everyday. If you can't walk the walk don't talk the talk.

Comment by Joker at March 4, 2005 04:26 PM | Permalink

fishingsfirst;

Try getting a new browser/or update
this seems to be the problem from what I understand
get a avant browser or Mozilla or
update to new Internet explorer

I dont quite understand why this is causing problems,(old browsers)
but it has solved many's problems

Comment by JohnLarue at March 4, 2005 05:41 PM | Permalink

Joe,
Would it be too much to ask of you to post at least 1 positive comment? I think most if not all of us dinar investors know that it's risky. That's what makes it exciting--to hope and dream that it'll turn out to be a risk that was well worth taking (in the short term). I'm hoping that within the next 15-20 days you can find something positive to say or is that too much wishful thinking also? I think you might feel better(more optimistic) if you allow yourself to dream a little more.
John Larue and Carl,
Thanks for all of your insight. I look forward to reading your posts and HOPE/DREAM your opinions for June prove to be facts John. Do either of you think that the 25000 dinar note will be worthless?

Comment by Millionaire2B at March 4, 2005 07:48 PM | Permalink

I do NOT understand why people posting about "another forum" continually post here about web browser issues here. These two forums have very different expertise and I must say this one has a MUCH more adult approach to informing about the Dinar....

Comment by jo at March 4, 2005 09:07 PM | Permalink

New to the dinar and new to this thread but having a good 2 cents worth of opinion, I thought I'd spend it here. I took some time to read about a third of the comments provided so far, so if I cover some ground here that has already been hit, just write it off to me not having seen it. The only guy that I saw who covered one of the REAL reasons that the dinar will absolutely FLY, and I mean a lot higher than the popular $3.20 each, gave a fairly good exegesis for the argument, but I have a simplified version that won't require so many Bible references. Essentially, Babylon (both a city in Iraq, AND the word used for the entire region of Iraq) is the single most talked about city in the Bible, except for the nation of Israel. As early as GENESIS, the account of how the nations of the Earth being gathered at the tower of Babel, in Babylon, trying to build a monument to the earliest form of secular humanism recorded, the Tower of Babel, at which God decided to confound the one world language by creating MANY languages INSTANTLY..causing the immediate separation of the various people groups who could understand each other into different communities, who subsequently split off and relocated geographically all over the Mid East. Now you may be a humanist, evolutionist, atheist or whatever, but the fact remains (coincidentally, if your world view holds that God had no part or even exists at all) that Babylon and Israel have ALWAYS been the CENTER of the universe here on Earth, and isn't it FUNNY, if you are of the persuasion that all of the Bible stuff is just a bunch of hooey, that the world TODAY centers around this part of the world...desert, camels, palm trees..NOTHING except what?....OIL. Coincidence that the world's supply is locked up in the dunes of the decendants of one man...Abraham? Abraham's first son was whom? Ishmael..son of a slave given him by his wife Sarah to substitute for her own barreness. Ishmael is the father of whom? The Arab nation. Abraham's second son, born to him by a miracle of God when he was 99 years old was of course, Isaac and Isaac was the son of Jacob whose name God changed to Israel. So...God took Abraham, then Isaac, then Jacob called Israel into a region he promised them called THE PROMISED LAND...a "land flowing with milk and honey" but more importantly, GUSHING WITH OIL. Now..is it ANY coincidence that the Jewish people and the Arabs are located in that exact part of the world...the part with all the wealth of oil? When you consider the prophecies concerning the final war in the valley called Har Meggido, or Armageddon in Israel...is it such a far stretch of your imagination to believe that MAYBE, just MAYBE the information in the Bible is true on all accounts? Babylon is one of the first cities mentioned in the Bible and it is the last one in Revelation and it is talked about throughout the rest as well. Where was the prophet Daniel (of the lion's den fame) taken into captivity? Babylon. Where did the famous, non burnable sons of the fiery furnace excel among the young rulers there? BABYLON. When the angelic hand was seen by the king's dinner guests writing the words "Mene Mene Tekel, Upharsin" on the wall of the banquet hall (Belshazzer was king and the words meant, "you have been weighed in the balances and found wanting" that very night, Belshazzer was slain in a coup) what was Belshazzer king OVER? Babylon. When the historic king Nebudchadnezzer had a vision of a tall golden statue with a head of gold, body of bronze and feet of clay mixed with iron, what city did he rule? BABYLON. MOST importantly for our discussion here, what city is prophesied against in Revelation, which pertains to OUR times..the end times leading to Armageddon, the return of the Messiah (and if you are reading this as a Jewish person, you really ought to do a study in YOUR Jewish Old Testament in such chapters as Isaiah 53, which your Rabbi will NEVER quote from, as it so graphically describes Jesus crucifiction and life here that you'd be BLIND not to clearly see who is being described. For that matter, Matthew, Mark Luke and John give a GREAT running account of the prophecies that concern Jesus as the Messiah AND back them up by referring you to the Old Testament prophecies that speak of him. But that is for ANOTHER discussion. Again...whether you are Jewish, an atheist or don't care at all...for the sake of the DINAR discussion, you HAVE to take into consideration the weight of the importance of Iraq and Babylon in the Bible. Even HITLER used the Bible to try to find the Ark of the Covenant, and that isn't just the plot of the Harrison Ford movies..it is FACT. He didn't have any use for God, Jesus or anything human at all, BUT, even Hitler knew the veracity of the historical evidence in the Bible and tried to take advantage of it. YOU can succeed where HE failed by realizing that in Revelation, Babylon becomes the CENTER of commerce in that region of the world...a place where ALL nations come to do business, trade, and buy goods. If you own dinar, you better high tail it over to Revelation chapter 17 and 18 to get a GLIMPSE of what is about to happen to that nation AND your investment. Chapter 18 will BUG YO EYES OUT, if you read with understanding. I'll paraphrase a small part..."she lived luxuriously, the kings of the earth lived luxuriously with her but Alas, alas Babylon...has fallen, and the merchants of the earth will lament and mourn for her, for no one buys her merchandise anymore, merchandise of gold and silver, precious stones, and pearls, fne inen and purple, silk and scarlet, every kind of wood, bronze, iron and marble, oil, incense, wine, flour and wheat, cattle and sheep, chariots etc. The fruit that your soul longed for has gone from you, and the things which are rich and splendid have gone from you and you shall find them no more at all. THE MERCHANTS OF THESE THINGS WHO BECAME RICH BY HER WILL STAND AT A DISTANCE FOR FEAR OF HER TORMENT, WEEPING AND WAILING SAYING..ALAS, ALAS, THAT GREAT CITY, FOR IN ONE HOUR SUCH GREAT RICHES CAME TO NOTHING. THEY THREW DUST ON THEIR HEADS CRYNG, ALAS ALAS THAT GREAT CITY IN WHICH ALL WHO HAD SHIPS ON THE SEA BECAME RICH BY HER WEALTH...FOR IN ONE HOUR SHE IS MADE DESOLATE......HMMMM...ships on the sea becoming wealthy by her? Maybe a few OIL TANKERS perhaps? Of COURSE there wasn't much oil trade back then as only a few seeps of oil provided much (Remember how Noah "pitched" the Ark inside and out, and how Moses Hebrew mother made a small ark/boat for her son as a baby and pitched it to waterproof it, and set it to where Pharoah's daughter could find him in the bullrushes and preserve him alive after the decree to kill all Hebrew first born sons? OIL was around back then, but the Revelation prophecy was given 2000 YEARS before the knowledge of how to drill for oil ever came to be. Finally, chapter 19 of Revelation talkss of how heaven rejoiced at Babylon's overthrow...imagine, 3 out of 21 chapters about the end times concern Babylon/Iraq, and we can EASILY see that at SOME point, Iraq becomes the CENTER of trade and commerce, PROBABLY hosting the Antichrist himself, and is certainly going to have nations flocking to it as described in Revelation. Now...ask yourself...if everyone is lamenting, "Alas Babylon is fallen" doesn't that mean it has to be WAY on up there economically to cause such lamenting when it crashes? Have any of US ever seen Iraq profit or become the center of that region, or has history recorded that yet? NOPE..ain't happened ...YET! Saddam TRIED to make this prophecy come to pass...he rebuilt the actual city of Babylon and it was GROWING even under sanctions. Saddam's invasion of Kuwait was the FIRST attempt to make Babylon/Iraq into the image that Revelation describes. But I believe that Babylon was meant to rise under DEMOCRACY, not a dictatorship. You CAN'T have a world power if the borders are closed by sanctions over possible WMDs. You CAN and WILL have it if the nations of the earth are pouring billions into MAKING it the center of that part of the world, just as Revelation speaks of. Ask yourself...why Iraq? Why aren't we in Angola or Venezuela or Turkey or Bangledesh? Why not Libya or Syria or Iran? (you may say...just give Bush TIME and we'll be there TOO!) Why Iraq? Is it any coincidence that the number 2 oil reserve on the planet is under this Biblically prophesied area? Is it a coincidence that the most powerful and richest nation on earth now props up the entire economy, security, political structure and future? Think Iraq won't succeed? You and Ted Kennedy can just eat the REST of our dinar laced DUST if you hold to that notion! Iraq has never really had the chance before to have this prophecy come to pass...but it SHO does now. And for you and me, as dinar holders, isn't it prophetic that Bush set the record for the highest popular vote in history, securing the next 4 CRUCIAL rebuilding years, where Kerry would have turned tail and run away on Kennedy's back? I want you to go to www.kimclement.com and click on "prophecy" to read what a guy I KNOW to be a modern day prophet says about Bush, what he said WEEKS before the election about "What do I hear, a record has been broken, this President has set a record" and dozens of other very specific prophecies about oil, the finding of Saddam, the death of Arafat, and in 1996, the prophecy that gained him worldwide fame concerning the "death from the middle east, flying up the Hudson River" etc about 9/11. I was in service when Clement visited our church (Covenant Church in Carrollton Texas, with about 10,000 memebers currently) and HEARD HIM WITH MY OWN EARS the Sunday morning that he said, and I quote, "Within 30 days Saddam Hussein will be pulled from his hole" EXACT QUOTE that I heard PERSONALLY. 29 days later to the DAY, Saddam was INDEED pulled from his "spider hole" fullfulling that particular prophecy. What does Clement say about Iraq or the dinar...only round about comments so far, but I watch his site constantly because I have PROVEN him to be for real. Be a skeptic if you want, but there is a level of consideration concerning the dinar that many of you have no clue about,and that is the spiritual/Biblical ramifications of Babylon/Iraq. And the OTHER area you may not be considering is this...the world does NOT revolve around money...it revolves around politics and religion. Religion is why there is a problem in Iraq to start with...religious factions...POLITICS is the reason WE are there...the politics of oil, anyway. Basically, we HAVE to "own" our oil producing nation or our national security is worthless...we can't eat, travel, heat our homes or do anything without it and the entire Mid East was to the place that our way of life was in danger. Just look at what the speculators have done taking oil to 55 dollars a barrel from 1/3 that 4 years ago or so. Imagine what a REAL scarcity would mean...100, 150, 200? We have bought Iraq and own it as our own personal oil/gas station, and paid for it with blood...and rightfully so...we cannot depend on carrying on democracy without oil, and the nation would be plunged into a TERRIBLE depression, as would the economies of the whole world, without a stable oil market. The only PROBLEM with this is that we need to maintain the air of legitimacy with other nations by talking WMDS and human rights etc. to satisfy the POLITICS of this venture. So we DO pour billions into the infrastructure, housing, food, clothing and medical care areas to be sure the "props" of our little play are looking good..oh, sure, we care, but it is oil first and don't ever forget it. This stage setting is EXPENSIVE and the Democrats constantly give us grief about the budget deficit...which is the REAL reason #2 that your dinars are going to explode in the next 5-10 years if not sooner. The United States is running the larges deficit in history..is it 500 BILLION now? How does the "idiot" Bush think it will be paid? (Bush is God's man, my hero, and like me, suffers from Adult Attention Deficit Disorder, as do his daughters...mistakes in speaking, word order, remembering facts on occasion are typical but do NOT make the man a dope, trust me.) Remember how the idiot Democrats last election accused BUSH of blowing the budget surplus we had under THEIR hero, Clinton? ALL Bush's fault eh? And the American people BOUGHT it...the red states anyway, never thinking that the internet/stock bubble burst two months after the election in March 2000, and that all the tax revenue from all the HUGE profits wracked up during the stock fortune days disappeared over night. Yet the fault was Bush's??? And "Bush" lost 1.5 million jobs? Goofy children...the BEAR market from the stock market bubble bursting and Fed Chief Alan Greenspan's constant interest rate hikes in 99 and 2000 are REALLY to blame. What does that have to do with dinar or Iraq? Simply...we are ALL one stroke of the pen away from total solvency in America on the deficit matter and here's how it will go. Of the 10-30 million bucks in dinar that are auctioned off more or less daily, the US government is buying tons...why? Well, do you think that it is only you and I who see what is going to happen with the dinar? We small guys think in a single million dinar purchase at a time , less if we are cruising for late night cheap rates on Ebay (I make my living off Ebay selling my raku and metal sculpture, and buy dinar LATE on weeknights...NEVER weekends or early evenings. I routinely get 100k for about 82 incl. shipping while it costs around 95-105 per 100k during early evening auctions or especially, 100 to 107 for ANY auction of 100k ending on a Sat or Sunday...NEVER buy dinar unless it is after 10:30PM weeknights and Friday night is best of all) but the US government is buying and hoarding BILLIONS of dinar and here is why. Currently you can buy 511 BILLION dinar for about 350 million US dollars. That's a good month's worth of auctions over there and 300 million is chicken feed to our government. Recently, a plane loaded with 22 million in dinar was detained in Libya or Saudi..can't remember but it was with the full consent of the US government, and was being sent clandestine like to pay for machinery. The US government shuffles more dinar daily than you can imagine. NOW...how do you get rid of a 500 billion deficit in a single stroke of a pen AND win the 2008 Presidential election, putting yet ANOTHER Republican in to CONTINUE the US policies of a strong Iraq, with a STRONG Dinar? Several months before the election, timed JUST RIGHT for maximum publicity coverage by the media, you orchestrate/facilitate a dinar peg to the Euro/dollar/yen and a barrel of oil that equals par with the US dollar. Suddenly, the 350 million spent from the slush fund is worth 511 BILLION, handily enough to pay the entire deficit and take the wind out of ANY argument the Democrats might have wanted to make about Bush's fiscal/foreign policies. Do you find it coincidental that the budget SURPLUSES of 1996-2000 came not only as the tax base from the internet bubble was expanding, but only 5 years AFTER the Kuwaiti dinar rebounded from .10 cents to 3.60 or so? Colin Powell gladly admitted to having made boocoo bucks from buying the Kuwait dinar at the bottom and he was at the very TOP. Friends, this was the tip of the ICEBERG as to the money that was made by the US Government over the Kuwaiti dinar, and I submit to you, that under the COVER of the stock bubble revenue surplus, the government was unloading its huge profit to cover the budget excesses incurred during the FIRST Iraq war. That's how it works, and Reagan showed us all how deficit spending goes. You use your governmental "credit card" called deficit spending, to pump up a stagnant economy by giving tax breaks for businesses, creating jobs or better yet...STARTING A WAR. War was needed when Bush started it for two reasons...first was oil, but MOST importantly..we had had the worst economic DEPRESSION since the GREAT Depression during 2000-2003 and even though Greenspan and company cut interest rates 13 TIMES down to 1.25% at the low...the economy STILL floundered. That has never happened and it sent chills through Washington. What HAD to happen was a cataclysmic event to spur our economy, which would in turn, spur the WORLD economy, and only war could provide that. BECAUSE of the attack on Iraq, the spending of a million or two PER tomahawk cruise missle, the BILLIONS of pay for the service men, fuel, parts, etc etc. our nation got JUST the shot in the arm it needed to prop up our OWN failing economy. But it cost BILLIONS...HUNDREDS OF BILLIONS actually to foot the bill and that had to be "charged." So Bush did it, just like his Daddy and just like the best President who ever lived did, Ronald Reagan. (Did I mention I'm Republican? HA!) And DESPITE the naysayings of Kennedy, Gore, Kerry and the other Democratic dolts who NEVER seem to take the RIGHT stand on STANDING UP FOR WHAT IS RIGHT, the deficits in EACH case were "mysteriously" paid for in due time. HOW were they paid? HUNDREDS OF BILLIONS of DOLLARS paid off, and quickly? By the successful fruition of PROPER economic policy that GUARANTEED a successful future with revenue to pay for the debts incurred in CREATING the succesful future. Same way you and I SHOULD pay our credit cards...you run em up and 30 days or less later, you PAY em off when the money gets there. Now...if you are a total goof and buy into the liberal media/democrat garbage of Bush getting into this with "no exit plan" or whatever, you are just plain naieve. And if you think that the banking system in Iraq will never function on an international level, then you completely overlook the fact that the most successful nation on earth is CREATING the whole system, no matter HOW much it is said that the Iraqis govern themselves...WE GOVERN IRAQ..we OWN Iraq, and when the time comes that we have secured our national interest there with a stable economy, government, currency and oil flow to the mother nation of USA, we WILL give it back to them. And I promise you this...they WILL have a strong currency...perhaps the strongest in that part of the world...I predict not less than 4.80 US dollars to buy ONE dinar within 10 years...why? Because it is our national PRIDE that we leave that joint like the Panama Canal. We took over a failed French venture and turned THAT sucker into a shining example of American ingenuity and brains, and Baby...Iraq is now our NEW canal. We will not fail, the economy is Biblically destined to become the greatest in that part of the world, all nations will come to Iraq to trade, BILLIONS and TRILLIONS of dollars WILL be made and you can take THAT to the bank! Anyone who tells you the dinar is a bad risk historically is simple minded. There has never BEEN a case like this..where the strongest nation of earth assumes complete control of the number 2 source of oil on the planet. You can't talk pesos or lira or ANYTHING else because this is unique, Folks..a once in a life time bonanza that I ASSURE you the US Government is taking advantage of by accumulating TONS of dinar every day of the auctions.... I've been into investments all my life and I'm 48 now. I've gambled, played stocks, commodities, options etc. a lot of that time...but I've NEVER seen such an opportunity as this...you'll never see it again...remember, Babylon WILL fall...but it will rise before then. (Better not just insure your FINANCIAL future by buying dinar...you better get on your knees, grab that Bible, turn from your sin and make the Lord your BEST friend this very day or you WILL be facing either Armageddon one of these days or just plain standing before him to account for your lack of foresight in accepting his Word and obeying it by making him your redeemer...ANOTHER word to the wise!) I personally plan on making a LOT on dinar and funding a Christian camp in Colorado eventually. But we have to MAKE it first. Will it happen? YOU BETCHA! Look...October 2003 was the BOTTOM of the stock market plunge...high unemployment, Nasdaq had lost 78% of it's value! and NO ONE wanted stock. I remember looking at Portal Software at .26 per share, formerly 70, at Us Unwired-a Sprint affiliate-for 8 CENTS a share, PCSA, Ubiquitel etc. all for pennies a share when NO one wanted em..but I was broke and couldn't buy em. ONE YEAR later, ALL were trading at 50-100 TIMES their value and these are just a few I was watching. Folks, you HAVE to buy when your friends and family think you are an idiot...when NO ONE wants what you want. You HAVE to buy when they are cutting contractors heads off and blowing up police stations in Baghdad...why do you think the dinar is 1460 to the buck? Do you REALLY think you'd get that in a stable country? Look AHEAD! Don't get discouraged and NEVER sell your dinar unless you can make a profit and buy MORE within 3 days...you do NOT KNOW when this could hit and NO one knows how it will...overnight peg of .33 or par with the dollar or gradual rise...no one knows. BUT...you KNOW that Iraq cannot get any worse..we've SEEN the worst and it is UP from here..trust me. Want proof? Remember a few WEEKS ago when every headline every DAY was about this many deaths or that many car bombs or that official killed? Man, I've walked by the newsstand for DAYS and seen only LOCAL news on the front page..very little on Iraq, though things will continue to happen for years. My POINT is that already, things are turning around BIG TIME...the news guys aren't just tired of reporting it...there is just less and less and less and less to report! I saw where the marshes in Iraq are coming back from Saddam's draining them and ruining the country...man they have ALL the drinking water in that part of the world...90% by most estimates. Wanna see that place BLOOM? You are about to. Hey..America backs em, the stock market will take off soon and the banking system must be firmly moving before then with international rates of exchange etc. This is a DONE DEAL my friends, BUT you have GOT to stay away from putting deadlines on it...6 months or 1 year or 2 or whatever. And STOP with the idiotic "well I just bought a million and if it goes up fine and if not I haven't lost much" MAN are you gonna kick yourself for not committing to a REGULAR allocation to purchase dinar UNTIL it happens. That means an 85 dollar 100K purchase late night on Ebay EACH week for ANY adult with good sense. Cut your stupid cigarette habit, or can the coke/soda buying thing or WHATEVER it takes to make this a disciplined approach to what your intellect has already told you is the DEAL OF THE CENTURY. STOP with the emotion and wondering "when" and just DO IT, MAMA! And on safety...don't bury them, closet them or under the bed them...they WILL disappear. Fire, theft, flood..you don't know how, but they WILL fly away. Get a safety deposit box, keep EVERY invoice, original mail packaging, address from sellers etc. with each lot you buy for IRS records. Do this ABOVE board and pay your taxes when it is time. Stop WONDERING where to sell. I sell on Ebay ever day of the week and have for years. I can run a 100k lot for a one day auction, specifying that the buyer MUST pay immediately upon the end of hte auction by PAYPAL only, no checks or money orders, guarantee Priority Mail delivery in 2 DAYS, and pull a hundred bucks out of my Paypal account 24 hours later...thank GOODNESS for the liquidity provided by Ebay! You'll NEVER have a problem selling all you have IF you follow my guidelines from earlier in this LONG entry. Speakin of which...that's all for me. Remember...NEVER buy dinar on Ebay during the weekend...WAY too many bidders and you'll pay 20 bucks per 100k too much! Russ Reimer-Reimer Galleries

Comment by Russ Reimer at March 4, 2005 09:49 PM | Permalink

Hey! Everybody!
I've been gone this week performing some of my military obligation with the U.S.CoastGuard, at Search Air Rescue Station Destin, Florida.
I was able to get a quick look at some of the post mid week, but unable to comment. Some very good post put out this week. John, excellent job on the information provided in your post.
Joe! I think you make some valid points in your post. But also remember, nothing, and I mean nothing sets in a vacuum. As I stated before, positions are changing on each side daily. Each are attempting to get the advantage.Like any conflict, victory is not always one sided.
However, the insurgency issue has now become a minor problem, and represents only a small part of the changing political climate in Irag.
Presently, we have a political standoff between the shia and kurds, regarding the assembly and political appointees. These parties have agreed to some terms, but there is hardly a mutual agreement on any major issues.There are two major sticking points with the kurds. 1. They are extremely afraid the shia are going to attempt a Islamic State. This issue is not far fetched. I will explain what I mean in the next few post.The kurds also want federal recognition in northern Iraq. Otherwords,the ability to governed themselves. They also have a mandate, of having arabs move out of northern Iraq.The kurds were forced out,and the Sunni Arabs were moved in by Saddam in order to take over the northern oil fields.The demand is strong on this issue, as the ones forced out, want their old home places back.
Because of these unresolved issues there has been a delay in getting the assembly together. No date, has been set to have an official meeting of the assembly.Until some type of agreement is reached, everything as come to a stand still. This is a precarious position to be in. The longer the delay, the weaker the assembly becomes. This opens up opportunites to excite civil war, if the issues cannot be resolved.
To make matters worse, it looks like Calabi has been meeting in secret with Allawi, the existing temporary Prime Minister. That is not a good omen. How would you like to be fly on the wall where those conversations have taken place?
John, also has some very strong points. I believe just for this week, the actual truth is laying somewhere in the middle of both opinions.

Comment by Carl at March 4, 2005 10:16 PM | Permalink

I really am sorry if my post upset somebody about problems connecting to another site. I enjoy hearing what everybody has to say about Iraq and the hope that it will make it. My apology to everybody!

Comment by fishingsfirst at March 4, 2005 10:26 PM | Permalink

Fishings First
Glad to have you aboard. If ya stay on this board long enough, you will see the rest of us, upset somebody.

Comment by Carl at March 4, 2005 10:51 PM | Permalink

Hey that is cool Carl. I work full time for the Coast Guard and my name is Carl. I also have an investment in Dinar. I have been reading the posts between my college classes and work. I find them interesting and I am banking on a big return on investment. I am disappointed that I will have to pay capital gains on this.

Comment by Carl2 at March 4, 2005 10:57 PM | Permalink

It will be interesting to see if these different ethnic/religious groups can compromise, work together for the good of Iraq. There is so much at stake. I know some of the economic news I have read in the last week is very promising; 1. The Iraqi stock exchange plans to open to foreign investment. 2. Iraq is preparing to join the WTO,(with help from the US of course) and 3. Oil may hit 80 dollars a barrel in the next year. If the political situation can move forward (I know it is a very big IF), the future for the IQD looks very bright. Good luck to all!

Comment by buck at March 4, 2005 11:47 PM | Permalink

One compelling reason for Iraqi Citizens to exchange their USD to IQD is they may wake up one morning and their dollar savings may have dived in value. Once the IQD has been pegged at a much higher value, Dollars will tank. If Dinars go up 100x then Dollars will be worth 1/100th than before the revaluing.

Comment by Stevo at March 5, 2005 02:22 AM | Permalink

One compelling reason for Iraqi Citizens to exchange their USD to IQD is they may wake up one morning and their dollar savings may have dived in value. Once the IQD has been pegged at a much higher value, Dollars will tank. If Dinars go up 100x then Dollars will be worth 1/100th than before the revaluing.

Comment by Stevo at March 5, 2005 02:23 AM | Permalink

Carl 2
Glad to have you aboard. I was attached to the Aviation Group and flew helecopters for 12 years, until I loss enough hearing to have to transfer to boats. I have been Stationed at SAR Station Panama City Beach, and now SAR Station Destin. I have a total 26 reserve years, with 16 months to go before leaving the outfit. The Coast Guard is a great service, and has been good to me.I have truely enjoyed my time and experiences with those guys. The Coast Guard does so many things, that people never really know about. There is a sign above the stations 47'life boats, that every crew member sees as he as preparing to leave for another rescue under bad weather conditions."YOU HAVE TO GO OUT -BUT YOU DON'T HAVE TO COME BACK". This really says it all. Station Destin loss crew members on a 41' in 1987 during a rescue attempt. People always ask what is it like to go on a Coast Guard Mission during a "Real Bad Storm".The answer I give them is simple. People on the water are coming in because they are afraid of sinking. We are going out into a storm to get the ones who are sinking. What do you think it would be like?
You are doing a great service to your fellow man. Don't let anybody tell you any different. It takes a special breed, like yourself to face a angry sea, and keep your head thinking straight. I have found the Coast Guard is full of you guys. Remind me when we meet in Jamaica, and I'll tell you about a rescue we made on a guy fishing in a 14' birch lake canoe, in the middle of the Gulf of Mexico,on a icy rainey January night with 20 mile hour winds, while....yep! "Fishing for Sharks". He had no lifevest, no flares, no radio, no water, no food, no light,wearing a real lite wind breaker,his canoe would not pick up on radar because of its material, and he left the beach that way. You'll laugh when I tell the "Rest Of The Story"

Comment by Carl at March 5, 2005 07:42 AM | Permalink

Russ:
Just had time to set down and "really read" your posting. It is apparent you are definitely a well read man, and a spiritual one. I say spiritual, because I wouldn't give you a "hoot in hell" for a religious person. There is a big difference. A religous person is so steep in rituals of their faith, they forget what spirituality is about.
Your posting should make every person who reads it think. If it does that, then you have acheived the purpose of the posting. I like the fact you left it up to everyone to make up their "Own Mind" about the validity of your information.
While I may not have the same opinion as you on some points, but agreed with you on a lot of what you expressed, it was well thought out and expressed.

Comment by Carl at March 5, 2005 08:35 AM | Permalink

Millionare2b
There is no factual reason at all to think the 25k note is going to be worthless. There is "nothing" to gain by doing that.
John and I both are of the same opinion about any changing or issueing of new Iragi dinar currency.
Signs to look for when the currency will be newly issued.
Richard Simmons will become heterosexual.
Michael Jackson will get his orginal nose back, and he quits winking at little boys.
Pigs have learned to fly.
Ex-President Clinton turns gay.
Hillary starts sleeping with Bill again without "full body protection".
and the last sign
I will have elliot over to my house for Thanksgiving dinner.

Comment by Carl at March 5, 2005 09:13 AM | Permalink

Yet another input! Joe's post on March 4 should have answered a ton of questions. The NID will not budge until FOREX begins trading globally. Then and only then should anyone watch the exchange rate.
As for the 25K note scare, I reiterate my point. The U.S. once had a 10K dollar note in circulation but removed it from circulation due to a lack of use. It is probably worth more than 10K now simply because it is a collectors item, but at the very least it is worth 10K. Authorized currency minted but removed from circulation will keep it's value. I believe some confussion lies with the individuals not knowing the difference between the new Iraq government sanctioned currency and the previous adminstrations currency. Even when the new government decided to mint and circulate the NID it gave people an opportunity to exchange the Swiss dinar and "Print" dinar. Bottom line - don't waste your time concerned about this issue...concentrate on more important matters.

Comment by EJAMM at March 5, 2005 12:40 PM | Permalink

Kuwait has a 20k note, with the exchange rate almost 3.5 Kumait Dinars = 1USD, this note is worth around $70,000 USD. All this talk about a problem with the 25k NID note is nonsense.

Comment by buck at March 5, 2005 01:03 PM | Permalink

Buck re: Kuwait-
Your information is misinformation

Kuwait at present has ;
1/4,1/2,1,5,10,20 dinar notes

Central Bank of Kuwait

http://www.cbk.gov.kw/WWW/index.html
cbk gallery
issues-Fifth issues

Comment by JohnLarue at March 5, 2005 01:46 PM | Permalink

Sorry- I read that on another site, will try to be more careful on what I print. :)

Comment by buck at March 5, 2005 04:25 PM | Permalink

Until the NID is traded on the FOREX it is pointless
to obsess over the price fluctuations on various web sites if you consider yourself in it for the long haul.

Right now the NID is merely a collectible novelty item worth about a tenth of a united states penny.

The investment should be viewed as a lottery ticket with a shelf-life of about 5-10 years minimum for any type of pay-off.

Approaching the NID with a cool head, you can use the stock market as an example. Your money will historically double in the stock market every five years. If I can double my investment by 2010, that will be just fine. If I can go the my local HSBC and get my initial invested amount back, I’ll be happy too.

On this you can rest assured:

The currency WILL NOT begin to trade on the world market while the suicide bombers are active. It is not a safe and stable environment and no foreign country would, in their right mind
Back a country’s currency where the terrorists have the upper hand. IMO they HAVE the upper hand at the present time.

They’re growing stronger in number, and they’re campaigns of terror and destruction have been very efficient.

I don’t understand all this talk about Iraqi bank accounts! I’m very happy keeping my NIDs in the USA until such time when I can cash them in. Iraq is a cesspool of violence and terror and it will be years until stability takes hold there.


It's a glass, half-full, half-empty scenario. On the one hand it's an infested cesspool of terrorists, and on the other it's a country with huge potential. Good VS evil - it's the way of the world and of human history.


For the “glass half full” crowd you have websites like Portal Iraq
http://www.portaliraq.com/ with an never ending stream of uplifting positive information.

A more realistic and balanced view must be taken when thinking of the situation though. For every positive thing that’s reported there, another suicide bomber kills more people. Things are NOT STABLE ENOUGH in Iraq for the NID to begin trading on world currency markets. Period.

As for the very lucrative business of selling the NID …

The people who have already purchased truck-loads of new Iraqi currency want to sell them to you, as it’s a very lucrative endeavor and they’re making tons of money doing it. They’re making 30-50% profits on every sale. Some sellers will try and manipulate buyers by claiming shortages of lower denomination bills, or that the price of the NID is “Finally Going UP!” as one ebay seller recently touted, when in reality, until the currency is traded on the Forex world exchange, it’s total speculation.

In what I call the “Dima89 Ebay Indicator” you’ll see that there is no shortage whatsoever of the NID. Go here and take a look.
http://search.ebay.com/_W0QQsassZdima89
This guy is awash in NIDs and my guess is that until you see his supply dry up, THE GAME IS ON. It’s tulips baby. There is no shortage.


The NID is nothing more (at the current time) than another “Tulip Craze.” For those who don’t know what that was, it was when (in the 1600’s) tulip bulb prices inflated to incredible heights, reaching sums equivalent to a house on the best canal in Amsterdam. Anyone and everyone got in on the trade, and no one bothered to wonder what a tulip bulb was really worth because there was always some sucker who'd buy yours for an even more outlandish price. Sound familiar? Just substitute “tulip” for “NID.”

People bid on tulips, examined tulips, read about tulips, talked about tulips, fought over tulips, and fantasized about tulip-fueled fortunes, just like they’re doing with the NID. If you think it can’t happen in modern times, just go back 5 years to the net bubble, and you’ll realize it can. And it will again. It may be happening right now with the NID.

There’s a great story to be told in Iraq, but right now it’s fiction, and it’s fueling the current NID craze.

Do not become obsessed with the NID and the fact that you’re buying a million dollars of currency. A million sheets of toilet paper will wipe your ass for quite a while, but it does not make you a millionaire!

Stop thinking like that and you’ll sleep better and live your life while this drama plays out.

I purchased an amount of NIDs. It was a small part of my portfolio. It was an amount I can afford TO LOOSE. I purchased a Magll currency authenticator:
http://www.mageecompany.com/authenticator_4_in_1.htm

I believe the currency I bought is authentic. End of story. See you in 5-10 years. J

It will be at least 5-10, perhaps 20 years until things change enough to bring about a stable Iraq. The terrorists are growing and getting smarter. The world’s most wanted cannot be caught.
http://www.boston.com/news/nation/washington/articles/2005/03/04/in_hunt_for_bin_laden_doubts_raised_on_skills_funds/

Fanatics anywhere in the world are forces to be reckoned with and unless the US gets real unwavering and sustained support for other nations, (which they’re not) the current situation will continue, just like the Palestinian / Israeli conflict. It took four years for the fanatics to stop blowing themselves up there. It could very well take 4-5 years for the terrorists in Iraq to stop as well. Suicide bombers are the one type of warfare we cannot deal with. That’s why we’re developing combat robots:

New Model Army Soldier Rolls Closer to Battle
By TIM WEINER

Published: February 16, 2005

Correction Appended

The American military is working on a new generation of soldiers, far different from the army it has.

"They don't get hungry," said Gordon Johnson of the Joint Forces Command at the Pentagon. "They're not afraid. They don't forget their orders. They don't care if the guy next to them has just been shot. Will they do a better job than humans? Yes."
Advertisement

The robot soldier is coming.

The Pentagon predicts that robots will be a major fighting force in the American military in less than a decade, hunting and killing enemies in combat. Robots are a crucial part of the Army's effort to rebuild itself as a 21st-century fighting force, and a $127 billion project called Future Combat Systems is the biggest military contract in American history.

More: http://www.newstarget.com/005168.html

Be sensible, be smart. Nobody’s going to be a millionaire anytime soon. Buy your NIDs and forget about them for 20 years and you may be pleasantly surprised. Don’t waste your time and energy glued to the screen to find out when the newly elected prime minister of electricity and water just farted. It’s going to be many years until any significant movement takes place.

Comment by Joe at March 5, 2005 08:24 PM | Permalink

Thanks Carl...Religion is "merely Man's search for God" and it is religion that has caused more beheadings, slayings by sword, fire, various persecution "crusades" etc. It is only RELATIONSHIP with the Lord that works to help us through the day and LIFE in general. I talk to him all the time and "hear" his voice in my spirit, comforting, leading me in business ideas, letting me know when to give someone a suggestion or whatever..just letting him live THROUGH me. It isn't about a set of rules or following some stupid regimen of eating certain foods or not doing this or that...all of that is law, and law kills...NO ONE can keep the law and that is what the Old Testament and the record of the Jews miserable failure to keep God's law is all about. It is only his GRACE that allows our perfect Father/Creator to even look at our sorry selves and only through the FINAL SACRIFICE (I cannot BELIEVE the Jewish folks can't see that the Old Testament sacrifices of lambs, dove, rams etc. could never suffice in the end...those sacrifices WILL be reinstituted shortly when the new temple in Jerusalem is built. The stones, trappings and all other preparations ARE complete and waiting, but the Mosque of Omar--the Dome of the Rock is currently in the way on the site where the temple must be rebuilt. ALL of this is foretold, and in the end days before or just after Jesus returns, the temple WILL be rebuilt and temple sacrifice by the priests will resume before the Antichrist shows his ugly head and sets the final 7 years into motion. For those who doubt all of this..AGAIN, don't you find it strange that ALL eyes in the world today are focused where? On the human bombs in Israel, the Palestinian/Arafat aftermath, with the largest superpower on Earth totally backing Israel with the most powerful weapons on earth (Israel IS nuclear, you know!) and the latest fighter aircraft, intelligence and financing. Look at it...Russia backs and funds the "bad guys" the radical Arabs in Iran, Syria, Lebanon etc. while the US supports the OTHER side...Israel. Why in the world would EITHER super power even bother with those little podunk nations out in th desert? Why do we even CARE???? Is it COINCIDENCE that Iraq is in the news every day...that the ancient area called Babylon, so prominently spoken of throughout the Bible and Revelation 17-19 especially is the hottest topic in the WORLD except for maybe...ISRAEL? I'll TELL ya why...God put all of the Earth's oil...well, the LION'S share under those dried up, hot, arid, camel infested nations, and wouldn't you just know that of that whole area soaked with OIL...the ONLY one WITHOUT any, belongs to God's chosen people...the JEWS! Now how IS it that they wound up with NONE of the goodies if that was the "promised land." And why does the US care about Israel if they don't have any oil to offer us? Well, I'll tell ya...the Bible says that God will bless those who bless the Jews, and curse those who curse the Jews. I have a feeling that Israel got nothing in the way of oil because the Lord didn't want them to depend on OIL or MONEY for their survival...he wanted them to depend on HIM. And since Israel was reborn as a nation in 1948, against ALL odds, with scuds pointed at them and enemies SURROUNDING them on all sides, God HAS taken care of them by giving them the good old USA as Big Brother to watch out for them and to arm them to the teeth! HITLER HATED the Jews...know why? Cause the Jews ARE blessed in all they do...Ask yourself...who runs Hollywood? Does the name Spielberg ring a bell? How bout, Seinfeld, Shatner, Nimoy, Sadler, Streisand, Hoffman, Weintraub, Koppel, Crystal...it would take PAGES jsut to start to name them all. Who runs the nations scrap metal yards? I've dealt with the Goldbergs and Greenburgs here in Dallas on countless occasions, who runs the jewelry markets? Who runs WALL STREET? Who owns the real estate in New York city and every other valuable location in the US? The jews...and I am NOT being ANTI Semitic in identifying these things...just the opposite...I am completely PRO JEW, PRO ISRAEL and support God's chosen people in every way I can. These idiots that say Mel Gibson's movie, "Passion of the Christ" was antisemitic, or the complete MORONS who have castigated Jews by saying that "the Jews killed Jesus" HEY...Jesus CAME as a Jew, for Pete's sake! Jesus' lineage all the way back to Adam is given in the first chapter of Matthew and his royal lineage through David, Solomon etc. is confirmed. All ANY Jew or non Jew needs to become convinced that Jesus IS the Messiah and Son of God, is to just READ the Bible front to back, paying attention to the "who begat whom" boring stuff, and reading the incredibly accurate prophecies written HUNDREDS of years before, that Jesus fulfilled to a T! I tell ya...you could become a BELIEVER in a SECOND by just reading Isaiah 53 and just looking at Jesus with a clear, open mind. I did in fact, read this to a Jewish woman last year, whose dog I helped return to her. I asked for HER Jewish Bible and read the following to her out loud in her living room. She asked me.."is that MY Bible you are reading that from and it was indeed." She told me that NO rabbi had EVER DARED to read that during Shabbat services, and for good reason...listen to this! "Isaiah 53:1-12.....Who has believed our report? And to whom has the arm of the Lord been revealed? For He shall grow up before Him as a tender plant, and as a root out of dry ground. He has no form or comeliness, and when we see him, there is no beauty that we should desire him. He is despised and rejected by men. A man of sorrows, and acquainted with grief. And we hid as it were, our faces from him. He was despised and we did not esteem him. Surely he was borne our griefs and carried our sorrows: yet we esteemed him stricken smitten by God, and afflicted. But he was wounded for our transgressions, he was bruised for our iniquities. The chastisement for our peace was upon him, and by his stripes we are healed. (Crucified hundreds of years later, you can SEE Jesus plight in this passage, so graphically, it just blows your spiritual MIND!) All we like sheep have gone astray, we have turned every one to his own way, and the Lord has laid on him, the iniquity of us all. (How can a man carry the iniquity of us all? By becoming the FINAL blood sacrifice God needed to provide the "ticket" for entering into relationship with him in his perfection...who knows WHY God needed a blood sacrifice for us to gain entry, but that is what he came up with as the peculiar "initiation" into his "eternal club.") He was oppressed and he was afflicted, yet he opened not his mouth: he was led as a lamb to the slaughter ansd as a sheep before its shearers is silent, so he opened not his mouth. (Remember how Pontius Pilate pracatically BEGGED Jesus to defend himself against the accusations against him, but Jesus said NOTHING) He was taken from prison and from judgment,and who will declare his generation? For he was cut off from the land of the living: for the transgressions of my people he was stricken (NO WONDER the rabbis won't preach from this passage! They'd lose their entire congregation in a second...it is SO clear why Jesus came, why he had to die...the Jews expected a CONQUERING Messiah, leading them to glorious victory against the Arabs..they still DO...but had they JUST studied this passage back THEN, they might have realized how Jesus HAD to come...as a suffering sacrifice for the sins of man and woman...."and they made his grave with the wicked-but with the rich at his death, because he had done no violence, nor was any deceit inhis mouth.(Remember how the rich guy, Joseph of Aramethea, begged for the body of Jesus and placed him in his OWN tomb..the one with the rolling stone...only the VERY rich had those babies!) Yet it pleased the Lord to bruise him..he has put him to grief. When yo make his soul an offering for sin, he shall see his seed, he shall prolong his days, and the pleasure of the Lord shall prosper in his hand. He shall see the labor of his soul and be satisfied, by his knowledge my righteous servant shall justify many (and we HAD to have an intermediary justify us...ever lied? ever lusted after a man or woman? ever taken the Lord's name in vain? ever coveted someone else's new Lexus? We are a FOUL creation...sinful to the max, if we have not taken ADVANTAGE of the sacrifice Jesus made, one which opened the DOOR and gave us ACCESS to be able to talk face to face with the Lord each day as I do...I could NEVER earn that honor...I'm rank, imperfect, onery and mean if I don't stay prayed up, reading the Bible each day and hittin the pew each week at my most EXCELLENT church, Covenant Church in Carrollton, Texas!) "For he shall bear their iniquities, therefore I will divide Him a portion with the great, and he shall divide the spoil with the strong, because he poured out his sould unto death, and he was numbered with the transgressors (the diciples had two swords with them--Peter used his to cut off the ear of the High Priest's servant, which Jesus picked up and healed of course--and it was a total transgression of Roman law for a citizen to possess a sword...yet another of the dozens of prophecies in this chapter alone fulfilled by Jesus) and he bore the sin of many, and made intercession for the transgressors......I tell ya, Carl, and anyone ELSE with the guts to stick with this long entry this far, the Bible tells it ALL...it is the human owners manual. Why ask the Lord ANYTHING if you aren't making a daily reading of what he has ALREADY said are his wishes for us! He has already answered almost any question you could possibly ASK, and that INCLUDES what is going to happen to Babylon/Iraq. Iraq WILL rise to be a MAJOR world power, becoming the number ONE producer of oil and becoming one of the filthy richest nations in history. The dinar will become worth WELL in excess of 4.80 per and maybe TWICE that. Kicking yourself for not getting Microsoft before it split a gazillion times? Hey...who needs Microsoft...you are sitting on a Bible prophesied, SHO THING here Folks...but the purpose of my message tonight is to tell you another sure thing...if you are not living right, with the Lord as your BEST friend, and the number one person you TALK TO each day all through the day...you will eventually go down in flames along WITH Babylon, as spoken of in detail in Revelation 17-19. God cannot look at sin, BUT he can see you, and love you through the blood stained veil Jesus provided by his life. Dinar means nothing in the long run, neither does your job, possessions or relationships...all pass away...all are merely props on this stage of your life here on earth...tools you use to perform before the one who CREATED you. It is only your actions of spirit that matter in the long run. Dinar and the fortunes to be made in the next decade are only a tool...are you just thinking of an easy life? Of the Hawaii or Carribbean getaway, champagne and caviar? Sure, we'll ALL get a taste of the goodies, but that is worthless self indulgence in the long run and it WILL get old in a hurry. ONLY a lasting relationship with your Father is worth living another day. And you can ONLY have that relationship by repenting and turning from EVERYTHING you know is wrong, questionable, dirty, immoral as defined by a consistant reading of the Bible to KNOW what God says is wrong etc. You can ONLY gain true peace on earth AND in the life to come (and folks...can't you SEE how fast your life has already gone? Can't you feel it ticking away each day, as the years fly by? Don't you REALIZE that this life is a vapor, that it is ONLY here as a testing/proving ground to know WHICH of us accept the Lord's gift of friendship and life, and which never "get it.") This life DEMANDS that you read his Word each day...I shoot for 7 pages read each day and have for years read the Bible through many times..THAT is how you learn about Iraq, and how to treat your wife or husband, or what happens if you commit adultry or cuss or get drunk, or lie or anything else. And don't EVER say that you don't have to go to church to be a Christian. Anyone who doesn't attend services REGULARLY knows nothing about a true relationship with the Lord and are fooling themselves completely. I can TELL you that I get charged up each time I attend to worship my God and Creator, and by mid week, just the daily associations with the liberal media, who ONLY report on rape, murder, homosexuality, pedophilia, gambling, incest and all the other crap, INCLUDING the totally perverted reporting on Iraq, NEVER mentioning the GOOD that prevails, the schools built, the changing of LIVES...NOOOOO!!!!! It is all just negativity and perversion...and it SOILS your spirit as you go through the week. We CAN'T neglect the Lord and his house, filling our minds instead with the constant evil drivel we see and hear each day and NOT be affected. Is Christianity a crutch then? Yep...but YOU and I are CRIPPLED, Baby...we NEED the Lord! So...that's it for me tonight, and there's meat enough in this listing for you to chew on for a WEEK. Buy all the dinar you can, my friends, but buy yoself a ticket to GLORY first or you are wasting your time, money and LIFE in pursuit of glittery NOTHINGNESS! Russ Reimer..God's FRIEND!

Comment by Russ Reimer at March 5, 2005 11:40 PM | Permalink

oop

Comment by ebert at March 6, 2005 12:51 AM | Permalink

Russ...thanks for that great explanation of the meaning of life. We go through life everyday not really knowing what lies beyond our time on this planet. We go to school...get high paying jobs...get married...have kids...and not know what to expect when the lights go out. That’s how I was the first 24 years of my life. I grew up going to church every week, but never really knew the real purpose of going. As you mentioned above, I was distracted by everything that was going on around me. I go to church and by Monday, I forget about what was said in church. I was heavily into going to nightclubs and hanging out with a bad crowd. Every night I laid in bed praying to GOD and asking HIM if there was anything other than what I was experiencing that would make sense. I felt like there was something missing in my life. I then met my wife and she was able to guide me in the direction that I needed to go. To make a long story short, I am now 33 years old and have 4 beautiful children with one more on the way. There's nothing more satisfying than to glorify the LORD by raising my children and teaching them what was not taught to me as a child.

The real point of this posting is something I thought about while purchasing dinar. Here we are purchasing millions of dinar hoping to make it big. There's a good chance we can lose it all, but we still do it because of the potential of becoming a millionaire. The little bit of money invested is nothing compared to the possible millions made. Just the security of knowing that you’re in, simply because you made your investment and that you’re not going to miss the train makes you feel really good inside. It’s just like when you purchase something that you really wanted. Its fun to have for the first few weeks or so, then you get bored and forget about that purchase. Then you see something else and purchase that to make your self happy once again. But, with dinar, we are happy all the time. Just the anticipation of hoping what will happen, leaves us spending several hours researching what is going on in Iraq and with the dinar. Once it hits and we become millionaires we will be happy for a long time, but as time goes on, we'll lose that happiness. Money only gives temporary happiness and we can't take it with us when we die.

There are only a few things I can think of that makes ME happy all the time. The first is GOD, then family, and then friends. Believe it or not, praying to GOD when stressed with life and laying my burdens upon HIM really works. It's hard to explain, but it’s true, I really feel the burden lifted off of me when I ask GOD to do so. In doing this, it helps with my relationship with my wife and children. Without GOD, I believe I would have been divorced before the first year of marriage, and then I wouldn't have had the rest of my beautiful children. Having GOD in my life makes me feel happy all the time. When I'm not in the Word of GOD I'm stressed and hard to deal with. As long as I pray and stay in the Word regularly, I'm happy. Before becoming a Christian, just the thought of being on my death bed and wondering where I'm going to go, really had me wondering. I told myself, whats it going to hurt...I go to church...pray...study the Bible. I'm not damed if I do, but I may be damed if I don't, so I chose to do it, and my whole life changed. I gained a whole new perspective of life. Where I used to curse all the time and engage in road rage, I now am able to bite my tongue and stay calm. I now have a conscience that reminds me right from wrong. I believe my conscience is the LORD speaking to me reminding me right from wrong.

The amazing part of accepting the LORD in my life was the ability to have faith and trust that there is a GOD and that HE is ever forgiving. We buy the dinar in the same way, by faith in hopes that we will get a return for the financial sacrifice made. I'm not perfect and sometimes I make mistakes, but when I fall down (which is a lot), I pick myself up and the LORD assures me that HE still loves me and will do what ever HE can to help me through life. Russ was right when he mentioned that the Bible was the owners manual for life. Reading the Bible made me a better person than what I was. I just wanted to make sure by writing this that I didn’t forget to thank GOD for allowing myself to be able to participate this. I figure that I’m 33 right now and I have around 50 more years to live. After those fifty years fly by, I’ll have to answer to GOD on how I lived my life. Did I live it for myself, or did I live if for HIM…Glorifying HIM and. telling others about HIM and how HE has worked in my life. Remember, it’s never too late to accept the LORD JESUS CHRIST into your life, and it doesn’t hurt to do so, but it will it will make you happy for the rest of your life and all ETERNITY.

Comment by Jim at March 6, 2005 02:27 AM | Permalink

Keep your bible thumping for religious message boards. Take your stupid god and shove it where the sun don't shine. Blah Blah Blah god god god he makes my day, he brings me joy S T F U. Go to the stupid religious message boards and post your garbage there. People like you use religion because you can't cope with lifes problems. Why don't you help yourself through life instead of using religion as a crutch you pathetic waste of life.

Comment by biffreynolds at March 6, 2005 02:51 AM | Permalink

God DAMM Biffrey

lol, I don't totally agree but he has a point and posting where you should, this is a sunday school blog.

John

Comment by john at March 6, 2005 06:43 AM | Permalink

"" ISN'T "" a Sunday school

Comment by john at March 6, 2005 06:45 AM | Permalink

A finatic is a finatic. (Sounds like one of the contibutors here has donned robe and feels the need to do some bible-tumping)

People feel the need to make others believe and think the way they do. It's a natural human trait.

Some strap on a bomb and detonated themselves in a crowded public area, some just prefer to clog up message boards. (Anyone can copy and paste large un-wrapped blocks of text)

And the beat goes on!

My thoughts and last post until there's concrete news about the NID with some revisions:


Until the NID is traded on the FOREX it is pointless
to obsess over the price fluctuations on various web sites if you consider yourself in it for the long haul.

Right now the NID is merely a collectible novelty item worth about a tenth of a united states penny.

The investment should be viewed as a lottery ticket with a shelf-life of about 5-10 years minimum for any type of pay-off.

Approaching the NID with a cool head, you can use the stock market as an example. Your money will historically double in the stock market every five years. If I can double my investment by 2010, that will be just fine. If I can go the my local HSBC and get my initial invested amount back, I’ll be happy too.

On this you can rest assured:

The currency WILL NOT begin to trade on the world market while the suicide bombers are active. It is not a safe and stable environment and no foreign country would, in their right mind
Back a country’s currency where the terrorists have the upper hand. IMO they HAVE the upper hand at the present time.

They’re growing stronger in number, and they’re campaigns of terror and destruction have been very efficient.

I don’t understand all this talk about Iraqi bank accounts! I’m very happy keeping my NIDs in the USA until such time when I can cash them in. Iraq is a cesspool of violence and terror and it will be years until stability takes hold there.


It's a glass, half-full, half-empty scenario. On the one hand it's an infested cesspool of terrorists, and on the other it's a country with huge potential. Good VS evil - it's the way of the world and of human history.


For the “glass half full” crowd you have websites like Portal Iraq
http://www.portaliraq.com/ with an never ending stream of uplifting positive information.

A more realistic and balanced view must be taken when thinking of the situation though. For every positive thing that’s reported there, another suicide bomber kills more people. Things are NOT STABLE ENOUGH in Iraq for the NID to begin trading on world currency markets. Period.

As for the very lucrative business of selling the NID …


The people who have already purchased truck-loads of new Iraqi currency want to sell them to you, as it’s a very lucrative endeavor and they’re making tons of money doing it. They’re making 30-50% profits on every sale. Some sellers will try and manipulate buyers by claiming shortages of lower denomination bills, or that the price of the NID is “Finally Going UP!” as one ebay seller recently touted, when in reality, until the currency is traded on the Forex world exchange, it’s total speculation.

In what I call the “Dima89 Ebay Indicator” you’ll see that there is no shortage whatsoever of the NID. Go here and take a look.
http://search.ebay.com/_W0QQsassZdima89
This guy is awash in NIDs and my guess is that until you see his supply dry up, THE GAME IS ON. It’s tulips baby. There is no shortage.


The NID is nothing more (at the current time) than another “Tulip Craze.” For those who don’t know what that was, it was when (in the 1600’s) tulip bulb prices inflated to incredible heights, reaching sums equivalent to a house on the best canal in Amsterdam. Anyone and everyone got in on the trade, and no one bothered to wonder what a tulip bulb was really worth because there was always some sucker who'd buy yours for an even more outlandish price. Sound familiar? Just substitute “tulip” for “NID.”

People bid on tulips, examined tulips, read about tulips, talked about tulips, fought over tulips, and fantasized about tulip-fueled fortunes, just like they’re doing with the NID. If you think it can’t happen in modern times, just go back 5 years to the net bubble, and you’ll realize it can. And it will again. It may be happening right now with the NID.

There’s a great story to be told in Iraq, but right now it’s fiction, and it’s fueling the current NID craze.

Do not become obsessed with the NID and the fact that you’re buying a million dollars of currency. A million sheets of toilet paper will wipe your ass for quite a while, but it does not make you a millionaire!

Stop thinking like that and you’ll sleep better and live your life while this drama plays out.

I purchased an amount of NIDs. It was a small part of my portfolio. It was an amount I can afford TO LOOSE. I purchased a Magll currency authenticator:
http://www.mageecompany.com/authenticator_4_in_1.htm

I believe the currency I bought is authentic. End of story. See you in 5-10 years. J

It will be at least 5-10, perhaps 20 years until things change enough to bring about a stable Iraq. The terrorists are growing and getting smarter. The world’s most wanted cannot be caught.
http://www.boston.com/news/nation/washington/articles/2005/03/04/in_hunt_for_bin_laden_doubts_raised_on_skills_funds/

Fanatics anywhere in the world are forces to be reckoned with and unless the US gets real unwavering and sustained support for other nations, (which they’re not) the current situation will continue, just like the Palestinian / Israeli conflict. It took four years for the fanatics to stop blowing themselves up there. It could very well take 4-5 years for the terrorists in Iraq to stop as well. Suicide bombers are the one type of warfare we cannot deal with. That’s why we’re developing combat robots:

New Model Army Soldier Rolls Closer to Battle
By TIM WEINER

Published: February 16, 2005

Correction Appended

The American military is working on a new generation of soldiers, far different from the army it has.

"They don't get hungry," said Gordon Johnson of the Joint Forces Command at the Pentagon. "They're not afraid. They don't forget their orders. They don't care if the guy next to them has just been shot. Will they do a better job than humans? Yes."
Advertisement

The robot soldier is coming.

The Pentagon predicts that robots will be a major fighting force in the American military in less than a decade, hunting and killing enemies in combat. Robots are a crucial part of the Army's effort to rebuild itself as a 21st-century fighting force, and a $127 billion project called Future Combat Systems is the biggest military contract in American history.

More: http://www.newstarget.com/005168.html

Be sensible, be smart. Nobody’s going to be a millionaire anytime soon. Buy your NIDs and forget about them for 20 years and you may be pleasantly surprised. Don’t waste your time and energy glued to the screen to find out when the newly elected prime minister of electricity and water just farted. It’s going to be many years until any significant movement takes place


Bookmark the following links for gaining useful and real information:

http://www.portaliraq.com/
http://www.menareport.com/en/business/
http://www.albawaba.com/en/countries/Iraq
http://www.noozz.com/Iraq/Index.aspx?Id=0&SectionId=0
http://www.defenselink.mil/
http://www.fatwallet.com/forums/messageview.php?start=500&catid=52&threadid=270766
http://www.investorsiraq.com/search.php?searchid=124811
http://www.jubileeiraq.org/blog/

http://search.ebay.com/_W0QQsassZdima89


See you when there's more news about the NID!

Good luck all. ( I hope you find the lord) :)

Comment by Joe at March 6, 2005 07:17 AM | Permalink

I would add www.iraqitrader.com to the above list - lots of good news sites.

Comment by buck at March 6, 2005 11:23 AM | Permalink

Thanks Russ and Jim, I enjoyed reading your post. I hear people everyday, who are in defiance of god, and don't ever want to hear about god. That is there right to beleive this way, I would die for them to have that right to beleive that way. But they shouldn't get angry and try to take away our right to believe and talk about god. All I can say to people who hate god, and want nothing to do with god, is You better hope you are correct with your thinking. We all will die someday, and we each will find the truth. It's to late to change your mind then when you ass is on fire. Anyway, this is the dinar forum, so I will keep my religion to myself from now on. Thanks

Comment by Michael at March 6, 2005 12:11 PM | Permalink

All these extremely long and drawn out discussion about God and the meaning of life are interesting; however, I do believe there are more appropriate forums for the "long" versions posted here.

Another thought though, isn't investing in the NID more or less a gamble. Isn't gambling against your beliefs?

The pursuit of god is every individuals right. When individuals come together as a people and try to convince others there way of believing is the "right" or "only" way, bad things happen. If you look at Iraq you may see that same thing happening. Beheadings and such is just one way for the insurgents to desperately try to get their religious point of veiw across. They mis-interpret their scriptures to make it say whatever it will to justify their position...not too unlike the Christians during The Crusade period.

Comment by EJAMM at March 6, 2005 02:08 PM | Permalink

Thanks for remembering its sunday and the surmon now can we get back to the subject at hand, is there any one that has any news fron Iraq or the Dinar.

Comment by CHAD at March 6, 2005 03:51 PM | Permalink

EJAMM,

I don't think what we are doing here is gambling, but investing, which is often done by purchasing items of value for income or capital appreciation, such as stocks, bonds, mutual funds, real estate, CDs, currency, and collectibles. I have several properties thru ought the United States that I purchased for investment purposes knowing that in time those pieces of property will yield a great return. As with the NID, in time, we will see a great return. I feel that as long as we're not being negligent and selling all of our possessions to aquire NID that we are being responsible and making good investment choices. With gambling only a few win, but with investing, everyone wins.

Comment by Sabrina at March 6, 2005 03:54 PM | Permalink

Very well put Sabrina, I feel the same way.

Comment by CHAD at March 6, 2005 04:17 PM | Permalink

Sabrina, you hit the nail on the head!!

Comment by michael at March 6, 2005 05:34 PM | Permalink

Big news in Iraq. Reporting arrest of Al Zarcowie. I know I've got the spelling wrong, but you know who I mean. Number 2 bad guy. Yea

Comment by chromeman at March 6, 2005 05:56 PM | Permalink

Hey chromeman, from where and when did you get your information about Zargawi getting caught and if this is the case, I hope this takes some of the fire out of the rest of the insurgents. I still think that in June that this new iraq dinar will open up at a least a cent, much better then 1/17 of a cent or whatever the current value is. I still plan on getting me 5 more million, that will give me a total of 10 million and if i can afford it next month i plan on getting 2 more and then sitting back and waiting. Where is everyone located at? I am in Kuwait presently so if anyone needs some help getting anymore dinar i might be able to help you. my email address is hross105642003@yahoo.com . well it's time for fantasty baseball to start up so in the mean time yall just wait patiently and good things come to those who wait.

Comment by Hank at March 6, 2005 07:21 PM | Permalink

Sabrina,
I believe if someone buys something that has the potential to make additional money but at the same time runs the risk of "losing it all" would in fact be a gamble. I whole heartedly respect your version as your belief. I for one interpret it differently...to each his or her own.

In other matters, if the rumors on this site are factual and Zarqawi has been captured, I truly hope he suffers a fate equal to his crime.

Just putting in my 29.22 dinars

Comment by EJAMM at March 6, 2005 07:50 PM | Permalink

I think this is the site that has started the Zargowi capture buzz?

http://www.albawaba.com/en/countries/Iraq/180980

Comment by buck at March 6, 2005 08:00 PM | Permalink

While I agree idealogically with Russ Reimer (mostly), I agree with the comment that this is an inappropriate forum for the "long version" posts which are especially evangelistic in nature. Much better to dialog than to sermonize. Otherwise you run the risk of sounding like a stereotypical know-it-all Christian and losing the opportunity of having your point be heard.

Back to the dinar - I ordered 2.5 million this last week, and I'm just waiting for it to arrive.

Has everyone noticed that the flood of news from Iraq is beginning to slow? That means that the liberal media - addicted to bad news and opposed to the war - has less and less to report. Which means that there is more and more good happening there. I continue to hear people talking to relatives and friends who are in Iraq about how the attitude is really beginning to change - demonstrations against the insurgency, genuine gratitude for the current occupation, and the like.

I think if we're going to hear good news, it's not going to be from any of the mainstream media.

David

Comment by David at March 6, 2005 08:45 PM | Permalink

The Zargowi capture first appeared in a news article in Albwaba.com I next noticed a very breef 7 or 8 sec. blerp on CNN.

Comment by chromeman at March 6, 2005 09:40 PM | Permalink

Well, speaking of good news, check this one out, folks!

"According to Al-Hayat newspaper, as a first step toward executing the partnership agreements signed amongst Iraqi, Arab and foreign banks, the Al-Ahli Al-Iraqi Bank (National Bank of Iraq) started to issue stocks for subscription equivalent to 120% of the bank's capital. The bank, which had doubled its ID1 billion capital by 450%, also issued bonus stocks for the shareholders.


 


Mr. Ahmed Zaki, Director of the Bank, said that the bank's capital will grow from ID 1 billion to ID 25 billion after completing this stock issuance. He added that this step is very important to activating the partnership with the Bank of
Jordan and to develop the banking and credit systems in Iraq.


© 2005 Mena Report (www.menareport.com)"

David

Comment by David at March 7, 2005 12:47 AM | Permalink

March 07, 2005

Glass Half Full

Germany : Iraqi economy, reconstruction helped with 674,000 euros in humanitarian aid
Monday, March 7th 2005

"The German government is determined to support Iraq's reconstruction and to help create adequate living conditions for the Iraqi people," Tom Koenigs, Germany's federal government commissioner for human rights policy and humanitarian aid, said.


Glass half Empty

16 Iraqis Killed in Insurgent Attacks
By THE ASSOCIATED PRESS

Published: March 7, 2005

Filed at 4:56 a.m. ET

BAGHDAD, Iraq (AP) -- Guerrillas launched a series of attacks with bombs and gunfire in Iraq on Monday, killing 16 people and wounding dozens as the country took its first major step toward forming a government whose most crucial task will be dealing with the insurgency.

Most of Monday's fatalities occurred in Baqouba, 35 miles northeast of Baghdad, where insurgents launched a series of apparently coordinated attacks that killed seven soldiers and five police, said Tariq Ibrahim, a medic at Baqouba's main hospital. He said at least 26 people were wounded, including one civilian caught in the crossfire.

The assaults included a car bomb, three roadside bombs and small arms attacks three checkpoints, one of them just south of Baqouba in Muradiyah, said police Col. Mudhafar al-Jubbori.


Today’s tip:
If posting the number of NIDs you purchased makes you feel rich, resist the temptation. It’s meaningless to everyone else. Everyone buys what they can afford. Smart investors adhere to “moderation in all things,” while fools will sell other assets to own NIDs.


And the beat goes on ….

Comment by Joe at March 7, 2005 05:27 AM | Permalink

I was extremely sadden to read on the drudge report that warren buffet while playing the currency market only made a "Few Billion" instead of a "whopping Few Billion". Would anyone like to pitch into the pot so we can send him a sympathy card?

Comment by Carl at March 7, 2005 09:03 AM | Permalink

David: Im having a little difficulty understanding the full values of this part of you post. Could you please explain a little.

March 7: "started to issue stocks for subscription equivalent to 120% of the bank's capital. The bank, which had doubled its ID1 billion capital by 450%, also issued bonus stocks for the shareholders"

Comment by chromeman at March 7, 2005 09:04 AM | Permalink

Hello my Friends and Foes, I was reading a interesting news article in one of the middleeast paper's. The article stated that a good portion of Baghdad has been controlled or policed by the Iraq Army instead of the American Troops and if all goes like it has been going for the past month or so that the remainder of Baghdad will be controlled and policed by the Iraq Army by the end of Dec 2005. This is a good sign if it holds up, meaning that the Americans can start pulling out and returning home. I personally felt like that the Iraq Dinar would never start moving upward until the Americans started heading back home and another thing to look for is when Iraq can start utlizing there Airport more which I did read a article about Jordan and Iraq agreeing on more flights between the two countries. If you don't think Flying can hurt a country look what happen on 911. It took US and other countries along time to get back to somewhat normal so as we start seeing that Baghdad Airport getting more and more commerical flights then that will be the icing on the cake. This is all my view, so yall don't have to try and tear me apart lol

Comment by Hank at March 7, 2005 09:01 PM | Permalink

Thank you for the info Hank, every little bit helps when sorting out the situation in Iraq.

Comment by buck at March 7, 2005 09:40 PM | Permalink

Iraqi soldiers and police are assuming more responsibility for their country’s defense, according to U.S. Defense Department (DoD) officials.

U.S. officials have placed the highest emphasis on training local forces to take over security. Specialists from around the world are working to train soldiers and police in Iraq.

And it is paying off, officials said.

Iraq now has 141,761 members in its security forces. This is up from about 136,000 trained and equipped in time for the January 30 election. The forces include the army, police and the border patrol.

The Iraqi military has 59,689 service members: 58,992 in the army, 186 in the air force and 517 in the navy. On January 6, the Iraqi National Guard became part of the Iraqi army.

The training areas are turning out soldiers and units, officials said. Once the units are finished, they go into “on-the-job” training with coalition forces, and coalition forces “embed” trainers in the units. Once finished, they are available for assignment through the Iraqi Ministry of Defense.

The Iraqi 40th Brigade, for example, took over responsibility for 10 Baghdad neighborhoods. The brigade is responsible for many of the hotspots in the capital, including Haifa Street. The Iraqi military did very well in protecting polling places during the recent elections, officials noted.

Officials said the battalion-sized units are working out well. The problem is in the echelons above. It simply takes time to develop brigade and division commanders, officials explained. The coalition is working to train senior leaders and their staffs. NATO is heading the effort to rebuild Iraq’s staff and war colleges.

Various officials have repeatedly made the point that it will take time for Iraqis to get used to the idea that it’s all right to display initiative. For example, the chairman of the Joint Chiefs of Staff said in a recent Los Angeles speech that Saddam crushed the “spirit” of the Iraqi people. Anyone who displayed initiative “was slapped down very hard,” Air Force Gen. Richard B. Myers said.

“The great weakness in Iraq is in leadership,” said one DoD official. Junior officers in the regime’s army have the professional experience to command companies and battalions. Officials had to examine senior officers to ensure they weren’t too heavily involved in Baath Party activities to command in the new Iraqi military.

Army Lt. Gen. David Petraeus, the Multinational Security Transition Command Iraq chief, said good leaders make good units, and growing those leaders takes time. In the U.S. military, it takes an average of 21 years to “grow” a brigade commander. Petraeus, for example, graduated from the U.S. Military Academy at West Point, N.Y., in 1974 and commanded a brigade in the 82nd Airborne Division in 1995.

The NATO courses and other coalition efforts will begin to fix the leadership problem, officials said, adding that as the Ministry of Defense grows and fleshes out, administrative instruments so necessary for any armed force will take hold.

Senior officers in some of the brigades and divisions are in place. Staff officers and noncommissioned officers are being trained and assigned.

“We will help them,” one Pentagon official said. “They’ve made a good start. We need to keep up the momentum.”

Comment by Shaka' at March 7, 2005 11:49 PM | Permalink

Chromeman -

Everything in the quote that I pasted (too hastily, now I see) makes sense except for "doubling by 450%." I have no idea what that means. What encourages me, though (assuming any of this report is true), is that the Iraqi Nat'l Bank is interested in building its capital in Dinar, the same way that any US company builds capital: qualify for the market and issue stock. It's free money.

The rammifications, IMO, are significant. IF the Iraqi Nat'l Bank builds its capital in terms of Dinar - not dollars or Euros or any other currency - it has a diminishing interest in moving away from the current issue of Dinar AND has a vested interest in a strong opening on the FOREX. All of us are small time compared to this kind of capital - can you imagine? Many BILLIONS of dollars IF the Dinar reaches 1:1 status. Many MORE at 1:3 or higher.

But (again this is my opinion - you financial wizards can go to town on this) it all has to happen while the dollar is still strong. I believe a strong foreign policy keeps a strong dollar. But what do I know?

I do think the Iraqi National Bank has been reading up on Carl.

David

Comment by David at March 8, 2005 01:06 AM | Permalink

Just a point of reference for all. I just returned from thailand to Iraq after R&R. On the way back in to Ramadi I bought 4 mill. Dinar at a price of 1$=1300 NID. The same guy was selling at 1400 just a few weeks ago. Point is....the street rate is changing a bit. Good news!!

Comment by Pete at March 8, 2005 01:14 AM | Permalink

Ejamm, With your logic, all Chritians should not have a 401k or invest at all beacause it's a gamble.

Whats great about TRUE CHRISTIANITY is that it teaches you have a choice and it's laid out what will happen if you choose one or the other. You can choose to beleve the repercussions of your choice as well. History says the Bible is accurate if you truley research.

Thanks, and God Bless

Comment by alan at March 8, 2005 08:35 AM | Permalink

SAVIOR OR SAVAGER?
He will be the Captain who controls the direction of the ship, the engineer who can break the train or keep in it smooth motion on the uphill climbs. Either way the future of Iraq depends on his three tools of creativity. Thoughts, words, and actions, as to how Iraq is accepted in the International Market.
How one man establishes control, either with a heavy hand or equally balanced hand for all ethnic groups, will decide whether you and I have purchased pillow filling or dream filling Dinar.
He is going to be known as the "Ruler of Baghdad" or politically correct, "the Prime Minister of Iraq". He is listed as the "third" most popular in Iraq. The First two are Grand Ayatollah Ali Sistani and our little target buddy who tried people in an Islamic court and excuted them while American troops surrounded him, Moqtado Sadr, and who by the way hates America's guts. So how much influence do you think these two will have on him?
By all who know him he is soft spoken to the point of sometimes having to bend forward to hear his words. Some have even said, they were afraid his demeanor would indicate he was too shy and reserved.He is known to be an admirer of Winston Churchhill, and quotes him often to get a point across. His patients know him as a mild mannered family doctor in Wembley, North London, who had a wonderful bedside manner. He does not consider Iraq his home, eventhou, he was born in Karbala, a holy Shia City. His sons and daughters still live in London. He and his wife, who is also a doctor are now living in one of Saddam's Palaces under heavy guard. His physical appearance shows a neatly trim beard,a high forehead with a bald dome, and silver hair cut neatly over his ears. His hands are small but match his statue, for he is not a large man.His english is passable, but not perfect.So when conversations get deep, he switches to arabic, as he has more control over that language for expressing himself.He is 58 years old and shows his age with dignity, and dresses accordingly to the life position he as obtained. In conversations he is pleasant but intent. Vistors are offered sweets during their visits, and he can reminiscence about locations in Europe, as having traveled there, and is fond of Scotland and Ireland. He has taste for milk diluted with boiling water, stirred with a spoon of strong coffee.
As a Physcian, he had to be a certain way, and often showed compassion for patients who were seriously ill.
He is about to be placed in a position, that many men would reject. This position will test him in the coming months far more than medicine has ever challenged him.He is going to be sandwiched between the aspirations of his party,requirements of his Shia Dawa Islam faith, diverse religions, the divided people of Iraq,the competing interest of America,Iran, Syria, Israel,Turkey,Kurds and the still active insurgents.All of those will be jostling for influence. Each with an agenda that needs to be filled or met.Each dispising the other, yet knowing that in order to make it work they must set down, with a previous and present enemy. They will be required to socialize with each other, travel together in the same vehicle, eat together, talk together and refrain if at all possible, from killing each other. They have to do this not only for their own survival,but for the future of Iraq. You as dinar investors are seeing history made. Some even say Bible Prophecy. Regardless, the stakes are high, and you and I are along for the ride.
He graduated from Mosul University in 1974,and while there joined the Iraq's oldest Shia party, the Islamic Dawa Party. In this group he became very active. The party was actually formed in 1950's by a group of Shi'ite leaders, with Baqr Al-Sadr, the uncle of our target buddy Muqtada al-Sadr. It was created to stop atheistic communism and Baathist Arab Socialism. In the late 70's and early 80's it waged a campaign to oust Saddam, so much that he got pissed at the group. Saddam decided the earth or at least the part of the earth where he lived, would be better off without them around. Thousands were killed. The group supported the Islamic Revolution in Iran and in turn received support from the Iranian government.(they were the little suckers I remember wanting to shoot as they danced around our embassy and our held hostages, so in that respect, Saddam and I saw things alike) Despite this support the group's vision differed sharply than Iran's Khomeini.In 1980 he went into Iran, and stayed 9 years before moving to London, and continued his movement in the group.
In 2003, he was asked to go back to Iraqi. He left his family of five behind, and became the first chairman appointed by the Coalition to be on the Iraqi Governing Council.A year later he was appointed as one of the Vice-presidents, and while being put in that position has become well liked by all who have served with him.
He is very much aware of the Sunni's and how cruel they were under Saddam. Regardless, it is his opinion, that if you do not bring them into the government to help serve, you have delivered Zarqawi a present. Washington and other coalition members want someone who has a conciliatory leadership in guiding the natural urge for revenge away and stop it. "I personally favor amnesty for some, but for some it will never be given." He does not explain this vagueness, and this has caused some concerns in the Coalition leadership. When asked about the Americans he is ambiguous. They should stay as long as they are needed, but no longer than requested. At the same time, he wants to bring in some of the violent leaders of Al-Sadar, who twice revolted against the coalition to serve in the government.Its beliefs are very fundalmentalist like.It forbids chess and listening to music for entertainment. He, himself does not drink, smoke,play cards or go to a movie house. Now! that I think about it, it kind of reminds me of the "Church Of God" church, where I was raised in Sheffield, Alabama,and later left as I got older. Let me first say, they were good people. They didn't drink, smoke, thought it was a sin to go to movies, listen to rock music,wear short dresses, women couldn't wear pants,no jewelry, kept their hair very long, no dancing, no makeup, spoke in tonques, and wallowed on the floor when full of the holy spirit. Now! that I really think about it, the Dawa faith is probably watered down version compared to some who worship the christian faith in this manner.(these were the first people you put on your party list to jump start a good wild party) I tend to ask myself, why are all of these rules setforth by the leaders of their faiths? Then it came to me.(must have been god) Its a way to control the masses. Set petty ass rules, take away things that entertain so they won't be distracted from the leaders,do this and they will follow you like little sheep believing anything you say. All you have to do is just say it came from "God" I am only the messenger,they say.Of course, they have to spend the money personally given, in "God's" behalf.
SORRY DIDN'T MEAN TO GET ON THAT ROAD, BUT I NEEDED TO GET IN OUT OF MY THROAT, IT WAS KINDA GAGGGGGGGGING ME.
On a vist to Baghdad this week, America's own "Self Appointed Queen Of The Masses",Hillary Clinton made a statement, that she was very concerned about those restrictive links in his faith. He responded like most Americans wished our politicians would over here to some of her crap,"She is a ignoramus"
He is advocating Sharia law to issues such as marriage,divorce and inheritance. He says, under this law Islam makes the woman the responsibility of the father, then when married the responsibility of the husband. Now! he sort of left out the fact, along with that responsibility comes complete control, and the woman has very little rights. But then again, I can personally say there are a lot of women in America who agrees with that concept. If you don't believe it, how many men do your know paying alimony? They just forgot about the control.
When it comes to putting the Sharia in the constitution as the main law he is vague, but sounds mellow on this subject. However, he refused to say whether or not the Shia should be the sole law of the constitution.
(But out of the mouth directions of thoughts will be given). He states, Islam will be the official religion of the country. He supports womens rights, even his wife drives a car.He believes they should have the right even to be president or prime minister. He stated,all Iraqi's should have self-determination and individual freedoms. He stated, he wanted a constitution that would reflect all beliefs and desires of the Iraqi people.(I guess as long as it doesn't conflict with the Islamic faith)
He has kept his distance from the Coalition and looks at the Coalition as a necessary tool for now. (sort of like the "Prostitute Principle" once the service is rendered, you are worthless)He boycotted a U.S. organized meeting of Iraqi politicians near Ur in April 2003. While serving on the Governing Council he turned down protection from the coalition, instead used his own security provided by the Dawa party.
Let me give you a comparison here. It would be like having one of my old "Christian Church of God Friends" using their interpretation of the Bible(not sure which bible as there are so many versions out there now) as the founding rules for our constitution. Would you be up in arms? (I believe we got a taste of it when a certain Ala Supreme Court Judge sneaked in, under darkness, some hard rock tablets into a capital rotunda. I'm sure God was impressed with that move! Put a turbin on his head and give him a bedsheet and you have a christian Al-Sadar. Its a shame that he forgot he was a civil law judge,not clergy)
Some say he is the frontman for the Al-Sadar group, and Iran wanting to build a theocracy like Iran. Some say while being a devout believer in his faith, he is also a pragmatist who has the ability to cut deals with all ethnic groups.
He stated, he wanted to reach an agreement with the Kurd's and satisfy their desire for autonomy without endangering the integrity of the country. One of the solutions, is they may do what we did here in America to the District of Columbia in Washington.(we all know what a mess that is)
He also has put out a statment, that he would rule as an Iraqi not a Shia. (sort of like when we heard in America during an election speech, "read my lips, no new taxes")However, he was the champion of Islam when drafting the basic temporary law. He does not "Appear" to favor hard line policies of Islam. He knows security is an issue, and without it, nothing major can be accomplished. He also well aware that the reconstruction has to get "restarted", and in order to do that, corruption in the ministries has to be crushed immediately.(at least for appearance sake)
Well! the first newly elected assembly will be meeting on March 16th, 2005.
Now! calling for the assembly to convene doesn't mean anything will get done, but it does put pressure on all parties.(After all we in Alabama pay more for overtime to our state legislators for special sessions, than regular pay. It probably is because they had terrible hangovers from late night political discussions)
Until next time!!!

Comment by Carl at March 8, 2005 08:44 AM | Permalink

HAVE YOU FIQURED OUT HIS NAME YET?
He used to be known as Al-Ushayqer. Fearing Saddam's old Iraqi Intellengence hitmen, he changed it to
Al-Jaafari.
He is Iraq's new prime minister and the man who will either make you rich or............. weep.

Comment by Carl at March 8, 2005 09:02 AM | Permalink

5 kids, Jim! You BETTER score on the dinar...college is EXPENSIVE! As for the really acid comments about us "Bible thumpers" and taking it to another forum. Nah...I like it right here where the action is so energizing. What some folks just don't get it seems, is that when you take up an endeavor like buying into dinar, AND have the inside information that the Bible provides on the history AND future of Babylon/Iraq...you have a HUGE edge over those who are just guessing as to what might happen. What a lot of folks never seem to grasp is that the Bible is PRACTICAL in helping you deal with a bad mouth, a bad marriage, bad business relationships and bad investing/speculating. What did Jesus say about investing? He told a parable about a guy who went away for a long time and turned his possessions over to three trusted servants to manage. His gold was doubled by the first two servants, who were called "good and faithful" but the third moron, who represents MOST people today, just like back then, just BURIED his talant of gold in the ground and dug it up when his master returned and asked for an accounting of his stewardship. ALL of us may lose our shirts in dinar, but it WON'T be for failure to TRY. Those who NEVER invest or try have buried ANY chance of ever "making it" and are foolish stewards of what God has given them. Interesting isn't it, to compare say Jim or Michael's or my own entries in this column, with that of the foul mouthed, bad attitude, negative, anti God, anti GOOD entries of those who have NO tolerance, no ability to look beyond their own morbidly atheistically inclined outlook. The "take it to another forum" mentality is the same attitude that is causing the nation's courts to root out every reference to God in our nation, and eventually off of the "In God we Trust" on our own money. The BASIS for the founding of America is being attcked each day and every reference to God that our founding fathers INSTITUTED is being viciously attacked each day, the same way my comments about the Lord, and the incredibly accurate nature of the Bible has been attacked in this column. As for the "this isn't Sunday School" or "long draw out comments about the Bible"....boy can some of you guys MISS the point entirely! I bet NONE of the negative/anti God types who unleashed their attacks even READ the Revelation 17-19 passage I gave about how Iraq/Babylon becomes the number one country of commerce in that region and one of the number one business hubs in the WORLD! How can you, as a dinar holder, even THINK of being so stupid as to not check out such a reference that so directly affects YOUR OWN financial interests? Afraid you'll be convinced in OTHER AREAS as well? I don't mean to jump ANYONE'S case, but I do mean to prod you a bit to consider that ALL of what is happening in the Middle East, Iraq, the US and Russia etc. have ALL been foretold. You spew a vile hatred for me, the church and God's word, yet you don't have an answer at ALL as to why the world's attention is so focused on the Middle East as predicted over and over in the Bible. So...until YOU decide to debate or contribute on a level that INCLUDES a reason as to WHY the veracity of what the Bible has to say about Iraq and the reason the dinar WILL soar from a Biblical perspective, I submit that you take YOUR atheistically ignorant rantings to the appropriate column as it is so uninformed, compared to what the Bible has to offer, historically and prophetically, about the subject on ALL our minds here..the Dinar...that you offer nothing to us but negativity, cuss words, and a pathetically hedonistic/animal desire only for money, pleasure and other visceral and extraneous self indulgences that have no lasting value nor benefit anyone else but yourself. I'm not down on YOU personally, but I'm VERY down, and highly prone to show the folly of your unsupportably emotional castigating of the Bible and those of us who KNOW how truly accurate it is in matters such as the Middle East, Iraq and the dinar's future. I'm sick of the weak view that Christians are soft, "won't defend themselves or their beliefs" mentality, and THAT is why any reference to the Bible, God or religion is being torn down in our country, with the country being torn down as a by product. Rape, murder, perversion of all kinds etc. grow exponentially each day as fewer and fewer Christians seem to want to take a stand. Well I'm a fighter, BABY, and if you don't like my posts...skip em! If you don't like Jesus, skip Christmas and never take part in it again. This is what matters in life, and it is WORTH defending and teaching. So..those are my thoughts for today. Incidentally...got behind on a couple of bills and had to sell a couple hundred bucks worth of dinar on Ebay...MAN was it like pulling teeth! But I'll buy em back later this week when I get some more bread One more thing...Michael, and Jim and anyone else who felt attacked by the acid slung our way...do NOT stop with your comments and insights as believers...don't EVER give an inch...FIGHT...many are watching you in this thread and in your daily walk with the Lord. Do NOT give into the brutality of the enemy's words and comments...just KNOW that you have scored a victory when he winces like that and push farther. NEVER give in to defeat, NEVER back off...You make bold comments of your opinion of the dinar...isn't your FAITH worth being bold about in all areas? I encourage you all in your investing/speculating in dinar, but I also encourage you to be the BEST you can be in all areas. Negativity, attacks, foul words, bad attitudes...mark someone who acts or speaks that way and compare it to the POSITIVE, LIFE AFFIRMING words you read from Michael, Jim, me, and others like us...Glass half full? Mine is OVERFLOWING! Russ Reimer

Comment by Russ Reimer at March 8, 2005 09:52 AM | Permalink

Alan,

Thanks for standing up for what you believe. That's the one thing no one can take away from you. And to back-up your statement above, here's a few things on what the Bible says about investing.

There are those who oppose investment, saying that buying stocks is the equivalent of gambling. Stocks are bought in the hope (not guarantee) that they will make more money. There are differences, however, between putting money on a blackjack table and buying stock. Gamblers risk money, which they know they will probably lose, in the hopes of making money quickly. Investors buy partial ownership in a company in the hopes of making money over time, which can be a sound way to plan for the future.

The difference really comes down to intent. Some types of investing are very much like gambling. Most long-term investments return a profit over time, making them much more like buying bonds or certificates of deposit then rolling dice in a casino. There are many who use investments to secure retirement, education for their children, and inheritance for their families.

The Bible offers quite a few examples of growing wealth through legitimate means. Some are similar to investing – spending money now to make money later. God’s intentions for how we should manage our wealth are found in many scriptures. The following are a few examples.

Proverbs 28:20 says “a faithful man will be richly blessed, but one eager to get rich will not go unpunished.” This speaks against the “get-rich-quick” mentality. Looking at investment as a long-term plan for the future is good planning, but trying to make a fortune overnight is not.

2 Corinthians 9:6 says “Remember this: whoever sows sparingly will reap sparingly, and whoever sows generously will reap generously.” The context is actually speaking about investing in our relationship with God, but it demonstrates how one must often sacrifice now to gain in the future. Similarly, Proverbs 3:9-10 says “Honor the Lord with your wealth, with the firstfruits of all your crops; then your barns will be filled to overflowing, and your vats will brim over with new wine.”

Much of the Bible’s teaching about wealth is a warning against putting trust in wealth rather than the Lord (i.e. 1 Timothy 6:17-18) or to the detriment of those who depend on us (i.e. Ecclesiastes 5:13-14). As long as we honor our commitments to God and our families with our wealth, and maintain a spirit of generosity and thankfulness, investing is simply making your money work for you.

Comment by Larry at March 8, 2005 09:55 AM | Permalink

SUPERIOR!!!!!!!!!!!!
Oh!!!! what emotions that simple word evokes.
My car, my cooking, my neighborhood, my state, my family, my education, my race, my ethnic group, my way of worship, my faith, my inside track to god,my government, IS SUPERIOR!
Does anyone have any guess, how many wars, atrocities,and hateful acts have been committed just to protect what we feel is "Superior" to something else?
Maybe one day, humanity will quit repeating the cycle of "Superior", and say:
I respect you as a human being regardless of your race,ethnic makeup,and faith. I will treat you as I want to be treated.( I believe a great teacher said that once)
My way may not be your way, but it is what feels true to me. What I have is comfortable to me and feels right to me at where I am in life. I respect what you have, and your way of living.
I, as a soul do not have enough wisdom to make a judgement as to what is right for your soul.
That is between you and your higher power, whomever you believe it may be.
Jesus was a great teacher of how we should treat our fellow mankind.Some even say he was a "Saviour Of the World". Some do not believe this.Regardless his teachings reverberate throughout the world.
Then again the world has had many great teachers who have affected the world, in many different ways.Some of the teachings were terrible and some wonderful.
Example: Hitler was a teacher. He taught the world what unbridled hate can do when unleashed on another race and allowed to go unchecked by the world.
After World War II, the world said, "Never Again."
But I can think of many atrocities as the world has stood by and allowed to happen since that time, that was just as bad. Just because it was on lesser scale, doesn't make it less horrible. I am sure you can too.
So each person's faith is personal and should be allowed to flourish, as long as it does not interfere with another's way of worship.Once it is allowed to step over the line, you have created another "Taliban".This time it may be representing beliefs that leave you swinging from a tight wire on a cherry picker.
Of course it was justified, because it is "God's Punishment" as understood by the enlightened ones such as a Alabama supreme court Judge, or Jerry Falwell, or some Islamic Clergy.
After all, isn't there a book out there, that proports their "God" states, "I love you unconditionally"
I don't remember a "But" after that phrase.

Comment by Carl at March 8, 2005 11:07 AM | Permalink

David: Great Post

What you wrote is powerful and so huge we can't begin to see the vast cash flow. FOREX will cause this IQD to expand very fast. Because this is a world issue all the traders in FOREX are looking for a fast buck. I will not be supprised to see it at 1:1 by Mar 2006.


"The rammifications, IMO, are significant. IF the Iraqi Nat'l Bank builds its capital in terms of
Dinar - not dollars or Euros or any other currency - it has a diminishing interest in moving away from the current issue of Dinar AND has a vested interest in a strong opening on the FOREX. All of us are small time compared to this kind of capital - can you imagine? Many BILLIONS of dollars IF the Dinar reaches 1:1 status. Many MORE at 1:3 or higher. Posted by Dave"

Keep us informed on this action.
Thanks Dave

Comment by Chromeman at March 8, 2005 11:13 AM | Permalink

Shaka!
Good Post and good research.

Comment by Carl at March 8, 2005 11:28 AM | Permalink

Carl, He may love us unconditionally, so much so he will let us make our own choice. If you make the choice not to follow him he still loves you but he will let the consequences of your actions still happen.

Something to think about!
Alan

Comment by alan at March 8, 2005 11:37 AM | Permalink

Enough with the bible crap, the bible has nothing to do with what the value of dinar will be, the poeple and the new government do. Get off your holly roller horses.

Fact ! Printing press invented 1406.
Fact ! Monks hand wrote most books for centuries in the hills for mostly those who could pay for them.
Fact ! Monks used a drug for higher enlightment.

You do the math!

Does the story sound boring, well yes monk 1 says. Enlighten Monk 2 walks to the writing temple, and now the story says ah yes, now he parts the sea and can walk on water, much better story.

Though shall not do onto others as others do onto them, isn't that your belief.

Pushing this thumping is against your beliefs right??? Live on, move on, get over it, too each his own right.

If your a believer then live it and stop pushing that crap onto us who have don't relate the NID and the Bible.

John

Comment by John at March 8, 2005 11:40 AM | Permalink

Hey! John!
I sure wish you would say what your think sometime. It seems you've just been keeping it too close to the vest.
Keep Smiling!!!!!!!!!

Comment by Carl at March 8, 2005 11:46 AM | Permalink

My bust, 1436, sorry.

Comment by John at March 8, 2005 11:48 AM | Permalink

Alan!
Me, Myself and I alone are responsible for my actions. I really don't need Clergy to threaten me with god's wrath to make me do what I feel is right.
I simply ask myself, before I do something, "Is this who I am, and who I represent myself to be?, Does it hurt my family, friends or have negative consquences toward anyone, thing or place knowingly? I firmly believe in the principal, what you give out, the universe will give back to you 3 times.
Then I make my decision and act accordingly.
I take full responsibility for my actions. I really don't need a Boogie bear "will get you senario".
Russ! I believe john was saying, he respects how you believe. But he is not interested.
The only problem we have here is religion is going to play a major part in how the new Iraqi government is formed. Regardless of whether we like it or not, it is going to have an effect on the dinar value.It is best that we understand the Dawa Faith, in order to understand how they are going to react to certain challenges. I will post this information in the near future. Not for religious reasons but so you as a dinar investor can follow their frame of mind as History unfolds itself.
May the force be with ya!

Comment by Carl at March 8, 2005 12:05 PM | Permalink

Larry,
Thanks for your post.
Alan

Comment by alan at March 8, 2005 12:07 PM | Permalink

Me, Myself and I alone are responsible for my actions.

Exactly what I said. Im glad you understand.

Take care, Alan

Comment by alan at March 8, 2005 12:11 PM | Permalink

Alan!
The best to ya!!!
When we meet I'll buy ya a drink of your choice.

Comment by Carl at March 8, 2005 12:15 PM | Permalink

Carl,
Sounds great! When the Dinar hits a cold one in a Tropical paradise sounds good.

Alan

Comment by alan at March 8, 2005 12:27 PM | Permalink

Well John, your emotional "crap" filled post had nothing relevant, insightful, helpful, informative or remotely related to the dinar at all...you DO seem to like the word "crap" and "thumbers" etc. when referring to anything concerning the Bible, but again, you've failed to in any way contribute to the dinar discussion here, preferring an emotional tirade and very bizarre "monk" stories instead. I've not posted anything yet that does not directly concern the dinar, the argument FOR the dinar and Iraq soaring as outlined in the Bible account of history and prophecy, or that does not contribute to the positive affirmation of all of us who are into this investment opportunity and the lives of wholeness each of us SHOULD be aspiring to. I challenge you and anyone ELSE who suggests that a personal relationship with the Lord is not wholly integrated with a sound outlook on finance, investing, wealth building etc. to become WAY less emotional in your very narrow, intolerant and hateful, not to mention crude language laced, postings, and either DEBATE the statements made on an intellectual and reasonable way, BACKING UP your heart felt vehemence with FACT, or else simply continue to appear as the angry, frustrated, anti God, negative, crude language using, prognosticator and primogenitor of gloom and cynicism you appear to be from your recent posting. If you cannot afix a relationship of what you state directly to the dinar or Iraq, why bother commenting? In each posting so far, I have clearly identified an agenda of WHY I feel the dinar will rise, WHY the Bible needs to be considered as a historical and prophetica authority and why I believe it applies not only to our discussion here, but our lives as well. Those who respond with such anti-intellectual tirades as you seem to possess, embracing a proclivity to promulgate your OWN "rightness" through the use of insults, rather than ANY productive input whatever, should be seen for what you apparently are...an atheistic bully with a closed mind to anything but the narrowness of your own Godless beliefe system. The Bible IS an authority on Iraq/Babylon and to ignore history DOOMS us to repeat it. I doubt very seriously you have ever even READ the Bible, and as such, have nothing but ignorance as a referance point from which to utter your dark ramblings of negativity and disdain. If you want to debate, do so with some class from now on...leave the emotion at the door and give me some specific quotes, figures, projections and other data from which I can intelligently consider YOUR viewpoint...as it is, you've given me NOTHING to work with but your "feelings" and unexplained anger towards the "crap" filled believers who ALSO populate this thread. You seem to feel that you speak for the majority of folks here...you don't. That is where John Kerry went awry last election. The feeling that the US has become a nation of gay /abortion/anti-Bush/anti-Iraq supporting people of liberal minded, "no-more-prayer-in-the-schools" etc. was shown very succinctly as being hogwash when the largest popular vote in HISTORY went to George Walker Bush, neatly throwing the liberal, bad mouth Tom Daschle Democrat "hero" out on his ear at the same time. In short, don't even BOTHER trying to tell me or any of the other "Bible Thumpers" in this thread to shut up or head for another thread because you sound like Hitler, Marx and all the other anti American, intolerant atheists before you who tried to shut us up...you can't and won't, Amigo. We tolerate YOU here, and we will be staying until such time as there are other matters that become more important to our attention. Off the subject...can anyone tell me how the dinar will be broken down to a manageable denomination when it rises? How do you buy a cup of coffee with a 3.50 dinar...well, if there are Starbucks all over the place in Baghdad, that may work, but seriously..what will they use then? We have the dollar BUT we have nickels, cents, quarters, dimes and halves. Also...it seems to me that the immediate Forex entry may be linked to a 1 cent dinar because of the new dinar coins. The 100 dinar coin, the 50 etc. look like they may be gauged to relate to our own coin dollar, our half, our quarter etc. Now I'm as big on 3.50 or 4.80 dinar as ANY of you guys, but walking around with a 350.00 coin in your pockets is a bit of a stretch. I submit that for the World Bank entry, and the need to have a VERY sound, stable currency, they need a 1 cent dinar for a 5 year period perhaps, maybe only 3 and THEN a steady rise up, until they join in the one-Arab currency thing in 2010, at which time, a reissue and currency/coin swap would take place. I do NOT think there will be a new currency before then or it will make the banking system appear unstable, and that CANNOT happen. Stability in the currency is paramount, on the downside but also on the upside for some time to come, and THAT is why I speculate that they have issued the coins in those denominations...as filler currency during the stabilizing of Iraq for the next few years. I KNOW this deflates a lot of the optimism in the possibility of a June .16-.24 opening on the Forex or whatever, but even at .16...a 100 dinar coin is 16 BUCKS. How you gonna even break THAT down to pay for Starbucks? That's why I wanna know if anyone has heard of a sub-dinar denomination of coin that may emerge at any point. Also, don't get me wrong...though it LOOKs probable to me that a 1cent dinar is the opening, I do NOT think we should limit ourselves to this or any other "peg" or opening...no one knows, and THIS is the ONLY time in your or my lifetime that this opportunity will come along...the birth of a nation with all the oil and water and strategic location and US backing etc...it is a unicorn of opportunity..never see it again. My PERSONAL goals are to buy each week as much as I can get my hand on...I can always sell on Ebay if I need to pay a bill BUT, to NOT buy is just foolish. Iraq is on the BOTTOM...it WON'T get any worse..it is only a question of how GOOD it will get. A one cent dinar is 12 TIMES what I'm buying for on Ebay right now..and in the stock market...1200% would take you close to 25 years to match. I think a penny is MINIMUM though probable, in light of their planning in coming out with the 100, 50 and other dinar coins. Now..IF you had seen them come out with a ONE dinar coin and several LOWER denomination coins of another name, like say the 50 abdul, 25 abdul, 10 abdul, 5 abdul and 1 abdul, THEN you could speculate on a par or slightly less opening. The clues to the open are in the coins I think...let's hear what YOU think. Russ Reimer

Comment by Russ Reimer at March 8, 2005 01:12 PM | Permalink

Russ,

Thank you for you good insight. I personally enjoy what you've brought to the forum. I do have a bit of corrective criticism though. Please use paragraph breaks. I could read your lengthy posts alot easier this way.

Dave A

Comment by Dave A at March 8, 2005 02:34 PM | Permalink

Russ:
While I don't agree with you on some views, that is perfectly all right with me.I enjoy your posting from a historical point of view, and if anything else it allows me to "look at the dime" from the other side so to speak.
Keeping Smiling

Comment by Carl at March 8, 2005 03:02 PM | Permalink

I like your theory Russ, after reading what you had i went back and looked at all the different denomination that they had printed out and the currency goes like this, 25000,10000,5000,1000,250,50, and 2 coins at this time; the 100 and the 25. Since the American had some impact on there currency i only would think that there currency has to be somewhat similar to the Americans and Great Britain. In order for there currency to be stable and fair at the same time there has got to be a smaller value then the present 25 coin. Lets say you go to the store and buy a piece of bubble gum (worth lets say 2 american cents)and you hand them your smallest coin which at this time is your 25 piece coin how could they give your correct change back if the value was pegged at let's say something higher then 10 cents? .25 x .10=.025 american cents (My point is that the smallest currency they have has got to equal One american cent.I have not read anything more about them printing anything smaller then the 25 piece.I have taken a look at both coins and the 25 piece looks like a 1 american cent, and the 100 piece looks like a 5 american cent. Then of course the bills would have to be broken down also to the same ratio. 50 dinar becoming equal to 1 american dollar (50/50=1.00, The 250 equal to a 5 american dollar (250/50=5.00 and so on until you get to the 25000 dinar. I don't have time to compute all of the rest but you get the idea. So when the Iraq dinar goes on Forex don't look for no 25cents opening, more like a 1cent or 2 cent at the best but hell 1000000 dinar would give you a return of 10000.00 american dollars and a 2 cent would give you a 20000.00 return. I hope i explain this to where u can understand it if not i will try again later.

Comment by Hank at March 8, 2005 03:08 PM | Permalink

Nice Job Hank.

Anyone else have an idea on this? I am NOT a know it all and would sure like to hear ALL possibilities and ideas.

Russ

Comment by Russ Reimer at March 8, 2005 03:27 PM | Permalink

i feel that all this 5-10 year is being extremely conservative.
1. no more saddam
2. away from direct control of the US
3. a real honest (to some) government
4. now an international Stock Market.

hey i dont want to make millions as in the 3.5 USD to 1 IQD but i would be happy with the UAE rate of approx. 3UAE to 1USD.

plus just think how much our tax problem will go away when we all cash in our money legitlly.
JMHO

Comment by jason at March 8, 2005 03:40 PM | Permalink

Has anyone had any experience with GIDAssociates? I recently purchased 3 million Dinar from them and two days after my check cleared, my online account with them seems to have disappeared. I've been calling their business phone and just get an answering machine. I was just hoping someone else in this forum had successfully purchased from them.
Best Regards
PK

Comment by Perry Walker at March 8, 2005 03:47 PM | Permalink

seems as though the investorsiraq.com doesnt work at the office, but i can reach it fine at home....anyone else notice this?

Comment by st545 at March 8, 2005 05:15 PM | Permalink

Hank,
I feel the same way about the notes. At some point in time, I fell they will have to print smaller notes and coins. But I still feel in my hart that all the current notes will still be worth face value. Remember when the Us had bills that were 1000, and 10,000 dollar notes? Well you couldn't go in the store and buy bread today with one of those notes with out a little trouble with change lol. But im sure you can take one into any bank and deposit into your account. I used to worry about having large notes also, and even went as far as to sale half of my 25,000's and replaced it with 50's and 250's. But, I still plan to cash in my large notes when time comes and sit on my small notes and wait for the big bucks. I dont worry about it any more, shoot man, I just sit and wait for the morning I watch cnn and see the dinar is on the world trade market. Then im packing for that vacation all you guys are planning lol.

Comment by Michael at March 8, 2005 06:24 PM | Permalink

I have purchased quite a few from GID, they are terrible about returning e-mails, but they can ussually be reached by phone. They have delivered on all orders, ussually 2-3 weeks wait from the date they receive payment though. I have quite using them because I do not like the poor service, but they should deliver(eventually) with the correct amount of currency.

Comment by buck at March 8, 2005 06:31 PM | Permalink

Dear BiffReynolds:
I must say I just had the pleasure of reading your enlightening comments about your feelings toward expressions of faith on this board. While I am not a christian myself, I defend anyone's right to express their faith, if it is connected to the subject on this board which is Iraq and the Dinar. I believe most post I have seen are written in this manner, and carry with them heart felt feelings. Those comments seem to carry good intentions toward providing information to members of this board. I must say I was struck deeply with your limited command of the English language. But then again, at my age, I have found individuals with limited word range usually have a limited intellect to match. So please forgive me if I expected a higher standard of exchange on this board that you apparently do not have the ability to express,or have chosen not to express. Since I have not had the pleasure of meeting you personally,I can only go by your previous postings to what type of individual you are.I must say you definitely made quite of an impression on me, as usually out of the mouth comes forth a picture of the individual and his heart.If the comments on this board causes you heartburn,and causes you to start taxing your limited range of the English langugae again, then maybe you should consider searching for a board that can communicate at your level.


Comment by Carl at March 8, 2005 09:44 PM | Permalink

Now Carl...if command of the English language is of any importance at all, then my hero, George W Bush (yeah, I done said it...I LOVE Old George Doubleya!) would never be allowed to make a single entry here...HA! I don't mind BiffReynolds comments, as they give us all a chance to examine yet another viewpoint, AND to probe ourselves and our own mindsets, our convictions, and our faith, or lack of it. Furthermore, DEBATES are always welcome, even at the Presidential level, because the atmosphere of such discourse is such a NICE departure from the canned views we can ALL dish out. When you get a little SPICE going, a few insults slinging, and some prefunctory nose tweaking goin on, SUDDENLY the discourse comes ALIVE. I mean, do we REALLY want to get into a rut of just imagining how GREAT all that dinar dough is gonna be, or chastise anyone who even REMOTELY rains on our mental party by even SUGGESTING that the dinar might be YEARS away from any real action or that the action may be muted to a penny open or less? I like hearing it ALL...admittedly some less than others, but really, I've picked up a LOT by reading ALL the entries here so far and want em all offered, even if I disagree. The only thing I really relish jumping on is someone who gets on here and dishes out a lot of emotion with no SUBSTANCE...only what they FEEL. If emotion is included along WITH a pertinent fact, question or other information about the dinar, then let em blubber, or rant or laugh or spit or chew or call my mama names. You can laugh off such human frailty and just see the humor in the other guy pullin his hair out when you get his goat, but if he didn't give you SOMETHING to think about or question, as far as the dinar goes, or other economic considerations...then wasn't it a waste of time giving the comment or verbal diatribe? So keep the baloney coming...just put some HOT SAUCE on it will ya, and tell me something I DON'T know...I already KNOW that we Christians are all closed minded, non scientific thinking, Bible thumping, holy rollin, right wing, conservative n'er do wells with no rational or practical link to normal society or thinking in pragmatic terms of any sort, deceived into giving all our hard earned money to them ornery TV preachers and other vendors of spiritual snake oil, blinded by our own unedumakated views of creationism vs. the truth of evolution, and our blind and totally imbecilic following of such high ranking promoters of organized religion and faith as our President...we KNOW how stupid we are, how out of touch with the reality you have mastered so well, we've become, how weak we are as human beings needing something so idiotic as faith in the salvation, and soon return of a dead Jew to get us through the day...we see our faults and know we are stupid...tell us something we DON'T already know, will ya? Start with telling me how KUWAIT's dinar is broken down into change...what is the denomination BELOW a 3.60 value dinar or whatever it is now? I doubt we should worry too much about how the Iraqi dinar is broken down when all the other Arab states with way ABOVE par value currency is broken down into smaller units there. What coins are used in circulation in Kuwait for example? Let's find THAT out, and we'll have a clue as to how it will work with Iraq. Had fun pullin you guys legs tonight. Russ


Comment by Russ Reimer at March 8, 2005 11:13 PM | Permalink

Thanks Russ for your encouraging words you posted at 9:52 today and thanks to Carl, Alan, Michael, and those who support us Christians in relating this dinar venture to our beliefs, and how it is important to understand that this opportunity would not be possible if it were not for the soldiers who put their life on the line to protect our rights as an American to be FREE. For some of us to say that the Bible is full of S#!% is simply ludicrous. I have several friends who are over in Iraq that trust in the Lord to get them through another day. Faith in the Lord Jesus Christ is what keeps most of our soldiers alive and able to handle the terrible conflict their involved with everyday.

The First Amendment was never intended to separate Christian principles from government, schools or any other public arena. But, somehow the phrase "separation of church and state" gets tagged to the First Amendment and the Constitution. The First Amendment to the Constitution states, "Congress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof." The words separation, church or state are not even found in the First Amendment, nor is the phrase found anywhere in the Constitution. So, where did the phrase "separation of church and state" come from?

The phrase came from President Jefferson's Jan. 1, 1802, letter to the Danbury Baptists. The Danbury Baptists had written President Jefferson a letter concerning a rumor that the congressionalist' denomination was about to be made the national denomination.

In order to calm their fears, Jefferson wrote them a letter saying, "I contemplate with solemn reverence that act of the whole American people which declared that their legislature should make no law respecting an establishment of religion, or prohibiting the free exercise thereof, thus building a wall of separation between Church and State."

He was simply telling them that there was no need to fear the establishment of a national denomination because the wall of the First Amendment would protect the church from government control. Jefferson's view is further established through other statements he made concerning the First Amendment.

But, today all that is heard of Jefferson's letter is the phrase, "a wall of separation between church and state" without either the context, the explanation given in the letter, or its application by earlier courts. The First Amendment was clearly designed to prohibit the establishment of a single denomination. The Supreme Court that reflected that interpretation made many rulings and policies. These rulings and policies are well documented.

Although our founding fathers never intended for church to be excluded from state, through misinterpretations of Jefferson’s letter we have passed laws including making prayer in a school unconstitutional, even if it is both voluntary and denomination-neutral.

Today we make it a point to skip God in not only our schools but in our government as well. George Washington, the father of our nation, warned this nation in his farewell address that to remove religious principles would be to lose national morality. How scary it is to see how accurate his warning is. The United States has become the world leader in violent crime, divorce, teenage pregnancies, abortions and illegal drug abuse.
The founding fathers of our once great nation delivered us a system of government founded on Christian principles. As stated by Patrick Henry, "It cannot be emphasized too strongly or too often that this great nation was founded, not by religionists, but by Christians; not on religions, but on the gospel of Jesus Christ!" Our founders wanted to have Christians in office, as stated by the first Chief Justice of the Supreme Court John Jay appointed by George Washington. He said, "Providence has given to our people the choice of their rulers, and it is the duty as well as the privilege and interest of our Christian nation to select and prefer Christians for their rulers."

If our nation does not see our mistake of cutting out the reason this country exists, Jesus Christ, and put back Christian principles in government, schools and every other public arena, God's judgment will fall upon this ungodly nation.

Comment by Jim at March 8, 2005 11:51 PM | Permalink

Hey! Russ!
You strike me as a good man,I'm looking forward to meeting ya in the tropics.I love a good debate.


Comment by Carl at March 8, 2005 11:54 PM | Permalink

Russ,
Here is some information about the Kuait Dinar which I had done some research on several weeks ago. This info comes from the Central bank of Kuait. There have been five re-issues of the kuait dinar since 1961, but I will start at the time period of the gulf war which was the third re-issue:

The Third re-issue:

Following the accession of H. H. Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah, the third issue was put into circulation by CBK on February 20, 1980, in the denominations of KD 10, 5, 1, 1/2 and 1/4. On February 9, 1986, a 20 dinar note was put into circulation. Due to the exceptional circumstances ensuing from the Iraqi invasion of Kuwait in 1990, this third issue was withdrawn from circulation effective March 24, 1991, and ceased to be a legal tender after 45 days from that date. The right of exchanging these notes at the CBK expired on Saturday, September 30, 1991.

Note: Withdraw of the Saddam dinar from Ireq?

Fourth re-issue:

Soon after liberation, the fourth issue was put into circulation on March 24, 1991, so as to allow for a speedy exchange of the withdrawn third issue and to ensure the country's swift economic recovery. The fourth issue was withdrawn from circulation on August 17, 1994 and ceased to be a legal tender effective February 16, 1995. These notes can still be exchanged at CBK until Monday, August 16, 2004.

note: Introduction of the NID to Iraq. Remember, people in Iraq had a certain length of time to trade the saddam dinar for the NID. Also notice the fourth issue was withdrawn from circulation, but people were still allowed to exchange them 10 years later in 2004. If Iraq follows the same path, it makes no sense for us to worry about the large denominations of the NID. We will have plenty of time to exchange for smaller denominations or sale.

Fifth and final re-issue:

The Fifth Issue of the Kuwaiti Currency was placed into circulation effective Sunday, April 3, 1994. The fifth and current issue, in circulation reflects the latest technological advances in the banknote printing industry; thus fulfilling features of highest possible levels of security as a legal tender. One such feature, unique to this issue, is the hologram of a falcon's head on the 5, 10, 20 KD notes.

Note: Simaliar security features of the NID! Why change what you already have? The current notes are the 1/4, 1/2, 1, 5, 10, and 20 dinar notes.

As for Kuwaiti coins, their various denominations are one fils, five fils, ten fils, twenty fils, fifty fils and one hundred fils. They were put into circulation on the first of April 1961, and remained unchanged ever since.

I know that the situation in Iraq is totally different than in Kuait, but as you can see, slowly but surely, the NID is following the same path of the Kuaiti dinar after the liberation. You can see things that happened with the Kuaiti dinar 10 or 15 years ago, actually happening to the NID today. I dont know about you guys, but this gives me goose bumps, lol. Their is no dout in my mind guys we are on the way. Just a little more time!!!!

Comment by Michael at March 9, 2005 04:03 AM | Permalink

Michael
Good Job!! Thanks for the time you devoted to this board.

Comment by Carl at March 9, 2005 07:59 AM | Permalink

Mike,

Great research! This gives a new perspective on what to expect with the new dinar. Looks like the coins stayed the same thru ought those several years. So, if anything, looks like the coins may be a sure bet; too bad their all in small denominations.

Comment by Jim at March 9, 2005 09:18 AM | Permalink

Hey Carl...I ain't SO holy that I couldn't use a nice steaming lobster in the shade of a coconut tree, next next to some aqua clear seashore!

Jim...well said, Amigo. As usual the REASON America came into being, the ability to worship God FREE of governmental intervention like we had under English rule, and the intended separation of the STATE from interfering in matters of the CHURCH, has been historically re written to read that the CHURCH can't have any say in the STATE, which is not what a single founding father had in mind as evidenced by what history has so amply recorded.

Michael..now THAT is some good information and I am very grateful for your hard work in finding it AND writing it for us all to digest.

It DOES raise a serious concern for me however, and again...I don't want to appear as negative or throwing a wet blanket on ANYTHING...but I ALSO don't want to be one of the types who says "don't disturb my nice dinar fantasy with any facts that point to an outcome I'm not prepared to accept."

Here goes, and guys, this is NOT to rain you YOUR parade or to play devil's advocate or anything else...this is ME, examining every aspect of this question so I can better make my choices for how to conduct my dinar acquisitions, what to expect in theory etc...this is for ME.

You've outlined 5 re issues, each of which required that OLD dinar be traded for NEW dinar in Kuwait.

If we are to extrapolate a probable like-scenario for Iraq, we need to know one thing to know if any of this makes sense when aligned with our fantasy .31 or .50 or 1-1 or 3.20-1 etc. ideas.

When the old Saddams were exchanged...they went 1-1 swap for new dinars with the Swiss dinars buying 150 new dinars.

I'm wondering if you know, or can find out what the rates of exchange were in any or all of the 5 Kuwait dinar exchanges. Is there a CHANCE that the current dinar we are buying would be exchanged 10 for 1 or 100 for 1 or 1000 for 1 of any NEW NEW dinar that come along in a reissue 3 or 5 years down the road?

Yes, the new dinar DOES have state of the art security features so "why change that" but hey, any subsequent reissues won't have to be about the currency itself, but about reasonable rates of exchange where a 100 dinar coin is traded for a 1 dinar coin say.

I'll admit that this is the ONLY area that really concerns me and it is one we CANNOT find out for sure...however, again, a knowledge of how they handled it in Kuwait would really shed some light on the Iraq situation, so tell us if you know, or let anyone ELSE who reads this jump in and lay on a little knowledge.

And while I'm at it...YO MAMAS!

Russ

Comment by Russ Reimer at March 9, 2005 10:19 AM | Permalink

Russ...that’s a good question; too bad I can't answer that for you. But, I remembered reading way above these discussions that several people opened bank accounts in Iraq. They said that they deposited around $1000, which gave them over a million in NID that went in their account.

My first question is it still going well? Meaning, I remember someone mentioning that one of the banks was being investigated. I was just wondering if the accounts are still active and accepted by the Iraqi government.

Second question, if they were to issue another currency, would foreigners be able to exchange their currency for the new, if not, then what happens to those who have accounts in an Iraqi bank?

Third question, if they were to issue another currency and only allow anyone (foreign and domestic) that are residents or have accounts in Iraqi banks to exchange their currency for new, would it be wise for us to secure an account within an Iraqi bank?

Doesn't make sense for Iraq to issue another currency, especially after billions are being invested, the support the U.S. and other nations are giving Iraq, the millions it took to produce and distribute the new currency, and a whole lot more.... Basically, if they were to do so, there would be a whole lot of people who would not want to do business with Iraq. I'm not just talking about Americans, but the whole world.

We and the whole world are setting them up to succeed. Why would they let us down and do a thing like that?

Comment by Jim at March 9, 2005 10:57 AM | Permalink


I never thought I’d need to go to Sunday School to read a board about the NID.


And the beat goes on!


Until the NID is traded on the FOREX it is pointless
to obsess over the price fluctuations on various web sites if you consider yourself in it for the long haul.

Right now the NID is merely a collectible novelty item worth about a tenth of a united states penny.

It’s totally possible that a scenario you never ever considered will ultimately play out. Like the trucker who gave up his job in the US to drive for a contracted company in Iraq for 10g a month, only to find his pay less than half that when he received his salary.

Someone will make truck-loads of dough in Iraq, and it’s doubtful it will be some schmuck in the states with a stack of NIDs in his safe deposit box.

The investment should be viewed as a lottery ticket with a shelf-life of about 5-10 years minimum for any type of pay-off.

Approaching the NID with a cool head, you can use the stock market as an example. Your money will historically double in the stock market every five years. If you can double your investment by 2010, that will be just fine. If I can go the my local HSBC and get my initial invested amount back in a few years, that will be OK too.

On this you can rest assured:

The currency WILL NOT begin to trade on the world market while the terrorists persist. It is not a safe and stable environment and no foreign country would, in their right mind
Back a country’s currency where the terrorists have the upper hand. And they HAVE the upper hand at the present time.

They’re growing stronger in number, and they’re campaigns of terror and destruction have been more and more efficient.

I don’t understand all this talk about Iraqi bank accounts! I’m very happy keeping my NIDs in the USA until such time when I can cash them in. Iraq is a cesspool of violence and terror and it will be years until stability takes hold there.


It's a glass, half-full, half-empty scenario. On the one hand it's an infested cesspool of terrorists, and on the other it's a country with huge potential. Good VS evil - it's the way of the world and of human history.

For the “glass half full” crowd you have websites like Portal Iraq
http://www.portaliraq.com/ with an never ending stream of uplifting positive information. E.G.

The U.S. Army Corps of Engineers Gulf Region Southern District (GRS) frequently hosts conferences to acquaint the contracting public with their requirements. The GRS recently conducted a conference in Kerbala.

The GRS oversees Iraqi reconstruction efforts in the Basrah, Tallil and Hillah areas of operation. In order to stimulate the economy throughout their area of responsibility, GRS employees constantly seek qualified Iraqi firms to which they can award construction contracts relating to the rebuilding of Iraq.

“The biggest benefit of contractor conferences is that they allow us to identify Iraqi contractors of various sizes and capabilities. In addition, they keep the local and regional employment benefits of our reconstruction efforts more equitable across the country,” GRS District Engineer Col. Roger A. Gerber said.


For the Glass Half-empty crowd there are daily reports like:

Judge on tribunal that will try Saddam killed
Death toll from Hilla car bomb rises to 127

Wednesday, March 2, 2005 Posted: 7:55 AM EST (1255 GMT)

BAGHDAD, Iraq (CNN) -- A judge with the court that will hear charges against Saddam Hussein and members of his government was gunned down by insurgents Tuesday -- one of at least four Iraqis killed around Baghdad, sources said.

As for the very lucrative business of selling the NID …


The people who have already purchased truck-loads of new Iraqi currency want to sell them to you, as it’s a very lucrative endeavor and they’re making tons of money doing it. They’re making 30-50% profits on every sale. Some sellers will try and manipulate buyers by claiming shortages of lower denomination bills, or that the price of the NID is “Finally Going UP!” as one ebay seller recently touted, when in reality, until the currency is traded on the Forex world exchange, it’s total speculation.

In what I call the “Dima89 Ebay Indicator” you’ll see that there is no shortage whatsoever of the NID. Go here and take a look.
http://search.ebay.com/_W0QQsassZdima89
This guy is awash in NIDs and my guess is that until you see his supply dry up, THE GAME IS ON. It’s tulips baby. There is no shortage.

The NID is nothing more (at the current time) than another “Tulip Craze.” For those who don’t know what that was, it was when (in the 1600’s) tulip bulb prices inflated to incredible heights, reaching sums equivalent to a house on the best canal in Amsterdam. Anyone and everyone got in on the trade, and no one bothered to wonder what a tulip bulb was really worth because there was always some sucker who'd buy yours for an even more outlandish price. Sound familiar? Just substitute “tulip” for “NID.”

People bid on tulips, examined tulips, read about tulips, talked about tulips, fought over tulips, and fantasized about tulip-fueled fortunes, just like they’re doing with the NID. If you think it can’t happen in modern times, just go back 5 years to the net bubble, and you’ll realize it can. And it will again. It may be happening right now with the NID.

There’s a great story to be told in Iraq, but right now it’s fiction, and it’s fueling the current NID craze.

Do not become obsessed with the NID and the fact that you’re buying a million dollars of currency. A million sheets of toilet paper will wipe your ass for quite a while, but it does not make you a millionaire!

Stop thinking like that and you’ll sleep better and live your life while this drama plays out.

I purchased an amount of NIDs. It was a small part of my portfolio. It was an amount I can afford TO LOOSE. I purchased a Magll currency authenticator:
http://www.mageecompany.com/authenticator_4_in_1.htm

I believe the currency I bought is authentic. End of story. See you in 5-10 years.

Be sensible, be smart. Nobody’s going to be a millionaire anytime soon. Buy your NIDs and forget about them for 20 years and you may be pleasantly surprised. Don’t waste your time and energy glued to the screen to find out when the newly elected prime minister of electricity and water just farted. It’s going to be many years until any significant movement takes place


Bookmark the following links for gaining useful and real information:

http://www.portaliraq.com/
http://www.menareport.com/en/business/
http://www.albawaba.com/en/countries/Iraq
http://www.noozz.com/Iraq/Index.aspx?Id=0&SectionId=0
http://www.defenselink.mil/
http://www.fatwallet.com/forums/messageview.php?start=500&catid=52&threadid=270766
http://www.investorsiraq.com/search.php?searchid=124811
http://www.jubileeiraq.org/blog/

http://search.ebay.com/_W0QQsassZdima89


See you when there's more news about the NID!


(For you bible thumpers, try some paragraph breaks – for those who want to read your words, it makes it much easier on the eyes.)

Good luck all. ( I hope you find the lord) :)

Comment by Joe at March 9, 2005 11:56 AM | Permalink

Carl and company,

Back in the jungle I am. Missed you all. I see Russ has chimed in quite nicely since I've been gone. Good to have you aboard Russ. You have started quite a reaction with your comments concerning the varacity of the bible and I like it.... acutally I love it.

Carl - don't be deceived into thinking you can simply say Jesus was a "good teacher".

As C.S. Lewis wrote:

"Yet (and this is the strange, significant thing) even His enemies, when they read the Gospels, do not usually get the impression of silliness and conceit. Still less do unprejudiced readers. Christ says that He is 'humble and meek' and we believe Him; not noticing that, if He were merely a man, humility and meekness are the very last characteristics we could attribute to some of His sayings.

"I am trying here to prevent anyone saying the really foolish thing that people often say about Him: 'I'm ready to accept Jesus as a great moral teacher, but I don't accept His claim to be God.' That is the one thing we must not say. A man who was merely a man and said the sort of things Jesus said would not be a great moral teacher. He would either be a lunatic--on a level with the man who says he is a poached egg--or else he would be the Devil of Hell. You must make your choice. Either this man was, and is, the Son of God: or else a madman or something worse. You can shut Him for a fool, you can spit at Him and kill Him as a demon; or you can fall at His feet and call Him Lord and God. But let us not come with any patronising nonsense about His being a great human teacher. He has not left that open to us. He did not intend to."

(C.S. Lewis, Mere Christianity, pp. 55-56)


So Carl - it is not about what "feels" like the truth to me. Why? Because who can trust their feelings? They ebb and flow continuously like the tides of the sea. Rather I stake my faith on objective facts from history. On the Rock solid evidence that makes up the case for Christ. What Jesus said and did was done done in some corner and left to our subjective interpretation of who he is, rather it was done in front of the whole world. The evidence for Jesus being who he said he was is overwhelming.

"All that Christianity asks of men......is, that they would be consistent with themselves; that they would treat its evidences as they would treat the evidence of other things; and that they would try and judge its actors and witnesses, as they deal with their fellow men, when testifying to human affairs and actions, in human tribunals. Let the witnesses be compared with themselves, with each other, and with surrounding facts and circumstances; and let their testimony be sifted, as if it were given in a court of justice, on the side of the adverse party, the witness being subjected to rigorous cross-examination. The result, it is confidently believed, will be an undoubting conviction of their integrity, ability, and truth."

Dr. Simon Greenleaf, Royal Professor of Law at Harvard University

Simon Greenleaf was vehemently anit-Christianity while at Harvard as the Royal Professor of the Law School. A pesky little Christian law student in one of his classes challenged him to check out the case for Christianity. He took the challenge and began to write a treatise with the intention to disprove and debunk Christianity forever. But while doing his investigation he could not refute the evidence. He ended up bowing his knee to the Lordship of Jesus Christ.

Now - as for the Dinar and its rise. Let's hope it happens soon.....I'm looking forward to our trip to Hawaii.....can't wait.

Guys and gals - Remember who loves you...

Terrance


Comment by Terrance at March 9, 2005 11:58 AM | Permalink

Russ I don't know if I can answer that question, but I did do some research on a similar topic.

I got this information from the FX converter site
http://www.oanda.com/convert/classic

It took a while to plug in the dates and numbers, and I hope the info on the site was correct, but im happy to share my findings with the board:

I compaired the Kuwait dinar with the USD on 3/23/91 and found that the rate on that day was 1 Kd = 3.47899 usd. I also checked back to 1/1/91 which showed the same rate of exchange 3.47899.

On 3/24/91, the day that the forth issue went into circulation the rate stayed the same. The rate remained at 1 Kd = 3.47899usd until 3/28/91 when it droped to 1 Kd = 3.44459.

The exchange rate continued to go up and down just a little each day as all currency does. On 8/17/94 when the fourth issue was withdrawn, the exchange rate was 1 Kd = 3.35852usd which showed only a small decline from 4/3/94, when the Fifth and final issue was put into circulation at the exchange rate of 1 Kd = 3.36927usd. The curency continues to be stable and today is exchanging at 1 Kd = 3.44459.

The big picture here is that the currency never took a dramatic drop or gain during any of the currency re-issues. I sure hope the same thing happens with the NID. Hope this helps answer some of the question.... Thanks

Comment by Michael at March 9, 2005 11:58 AM | Permalink

Michael:

I think you misunderstand Russ' point (and I hope I'm not putting words in Russ' mouth - goodness knows I don't have enough words to do that ;) ).

I believe the question here is not the exchange rate against the usd. The question is what the exchange rate is against the new issue of currency. For example, when Kuwaitis exchanged their old dinar for new ones at each new issue, did they get one new dinar for each old one? Or did they only get 1 new dinar for 10 old ones?

If there is to be devaluation of the current issue of IQD, the most logical time to do that by the Central Bank of Iraq will be if and when it reissues currency. So I think Russ' question is whether or not we can expect a devaluation of Iraqi Dinar based on the history of the reissues of currency in Kuwait.

Russ - have I represented you correctly?

David

Comment by David at March 9, 2005 12:44 PM | Permalink

BTW, Russ:

THANK YOU for putting paragraph breaks in your last post!

Also - I want to clarify that I don't think you're a know-it-all. It's just that a couple of your early posts don't accurately reflect your openness. You have to admit you came on awfully strong. But maybe you wanted to, just to stir the pot.

Well, it worked. Some great discussion over the past couple days, fellas.

David

Comment by David at March 9, 2005 12:52 PM | Permalink

David:
Thanks for the imput, All I can say is the exchange rate stayed the same during the re-issue. Which to me would mean the old Kuwait dinar was exchanged 1 for 1 for the new Kuwait dinar. If you had 10 dinar note of fourth issue currency, it was exchanged for 10 dinar note of Fifth issue currency..

Example: if they do issue new ID, and the same thing happens that happened with Kuwait dinar, We can exchange 25,000 dinar notes for 25,000 dinars in the new currency. 1 for 1.... At least I hope this is the way it goes.. Actually it is anyones guess....

Comment by Michael at March 9, 2005 12:58 PM | Permalink

Jim...the precident for issuing another currency IS there, in that Kuwait did it 5 times, and that is what bugs me a bit. Again, NOT that it needs to be re issued with MORE security features, but rather, to allow for a re-denominating of the currency's VALUE as related to the dollar or other Forex ratios etc.

As for worrying about whether we, as non domestics can exchange dinar at any point...don't EVER worry about that...I ASSURE you that there would be several Arab based websites in the US offering to buy dinar from you in a heartbeat if such a situation arose, but Iraq will NEVER discourage foreign buyers or sellers of it's currency...it is investment in their country AND makes the value of their own holdings secure, by knowing that the WORLD wants what they have.

Nice reprint of an earlier posting Joe, and Sunday school is really Dinar 101...if you don't know the history of Babylon/Iraq, AND the prophetic rise of Babylon/Iraq to a major economic world power as outlined in Revelation 17-19, then your basis for comparing the tulip craze to dinar is highly suspect.

You, as many other narrow minded agnostics have blinded yourself to the wealth of information open to you in the Bible, by throwing out ALL of it as you yield to your personal emotional leanings AWAY from the Bible. That is something you need to re evaluate if we are to take you seriously on what you write.

When you've read the Bible in its entirety, studied ALL references to the goings on in Babylon, Mesopotamia, the land of Shinar, Ur of the Chaldees and all other names by which modern day Iraq was called, THEN you can comment on the veracity or your perceived LACK there of, concerning the Biblical importance to the discussion of the dinar...Dig it?

There IS a market for dinar right now and it isn't 10 for a penny, it is 14.6 for a penny. The crudities of the tulip trading thing with no electronic trading, no interconnected world economies and no UNDERLYING value BEHIND the tulips, compared to the underlying BILLIONS of barrels of oil in Iraq, means that your comparison is seriously flawed, and your timeline as well.

There is NO reason to think in terms of 20 years and because this is of interest, AND gives daily hope to many, it is not up to you to determine the correct approach to buying, holding or evaluating the prospects for the dinar.

Your opinion IS filed in all of our minds and does give an ultra conservative tempering to the rabid faction that believes the dinar will be at par 6 months from now, but BOTH views are extreme.

Terrance...NICE ta meet ya. As for Greenleaf, a modern example is Josh McDowell, author of "Evidence that Demands a Veridict" and he ALSO set out to disprove Jesus, the Bible and ALL of it, bu t wound up being CONVINCED once he actually STUDIED it.

The biggest thing I got from it was that all but ONE of the disciples were martyred. Now...if ALL saw Jesus die, saw him resurrected and ascend before 500 other witnesses, then their deaths and lives of torture are well explained.

BUT...if they KNEW it was all a lie...that they had stolen his body from the tomb to make it LOOK like it was real, the why die for the lie?

Who in their right MIND would die for a lie they KNEW was a lie?

It is one thing for some 18 year old Palestinian or Iraqi who takes the word of his local cleric that he will have 18 virgins upon his arrival in heaven if he will only strap a bomb to his back and blow up a few local citizens, but it is quite ANOTHER for 11 or 12 of Jesus first hand, hand picked followers to KNOWINGLY die for a lie.

Now...again, this column IS about the dinar, and any discussions I make about Christianity will ALWAYS be linked to that.

MY point is that the Bible is true and accurate, historically and spiritually. It is the HISTORY of Iraq/Babylon you need to concentrate on if you are not a believer, as skeptic, atheist or whatever.

To allow your prejudice against the CAUSE we believe in, to keep you from at least CHECKING OUT the historical info on Iraq, means that your are stupidly blinded by emotion, and I personally cannot trust the opinion of someone like that.

In other words...if you have never READ the Bible, studied what it says about our discussion here, and yet sling your hateful comments about "Sunday School" or "Bible Thumpers" or whatever, then you are immediately pegged by many of us here, as a narrow minded, borderline hate crime spouting goof with nothing but EMOTIONAL OPINION to back up your ill thought out ideas about the dinar's potential.

You are just as guilty of the shortsighted goofiness displayed by a few who have written saying essentially, "I don't want to hear ANY negativity about the dinar...it WILL go to 3.60 each in the next few months and I WILL be a millionaire no matter WHAT you think!"

Either point of view is hopelessly sophomoric and illustrates a low level of intellectual activity as it pertains to calmly evaluating the matter at hand..THE DINAR.

David...hey Baby! Yeah, I stirred the pot and came on strong to do so. Sorry bout the paragraph break thing, but as I explained earlier...I'm used to listing my stuff on Ebay where I make my living and they don't ALLOW breaks, so I had to adapt here.

And you DID rephrase the meat of what I meant quite well.

Michael...OK...I see how it goes..the trade it for whatever it WAS worth right into a new currency when needed. I would now expect that to happen with the Dinar.

I suppose my NEXT question is REALLY gonna make some of you cringe.

Since we cannot arrive at an idea of WHEN the Kuwait or Saudi or Iran or UAE or whoever's currency DID appreciate, and at what rate(remember that Kuwait from .10 back to 3.20 plus is NOT a good illustration since the official rate never changed during the brief period Saddam ran amuck there) and have not real guidlines or timeline to think of an Iraqi 1000-1 then 700-1 then 500-1 then 200-1, 100-1, 50-1 20-1 10-1 5-1 1-1 1-2 and 1-2 possible progression in value...I would think that we need to go WAY back to find out WHEN each of the OTHER countries got to the 3.00 level or whatever for their currency.

Are the other countries currencies' history like Iraq's, where sometime back in the 1930's or whatever, the British established a 3.20 or 4.80 level relevant to the Pound Sterling or whatever, and that all subsequent exchanges for new currency have been nothing more than 1 for 1 with the Old, outgoing currency?

I KNOW this is a VERY disturbing thought...but again, unless we ALL are interested only in sticking our visionary heads in the sand and ignoring history, IS there a historical precident for any OTHER Middle Eastern currency rising from a LOW denomination value to a greatly ELEVATED value, or in each case, was it simpy pegged to the pound or dollar a WAY back when, and never really appreciated that much at all?

I am NOT interested in throwing a wrench in ANYTHING...I've bought this dream just like YOU have. But at this point..I want answers, not anti-Christian baloney, crude language laced, or emotional, garbage filled nonsense from those with an agenda that ignores pertinent Biblical/historical information about Iraq.

I want to KNOW, as YOU OUGHT to, IS THERE A HISTORICAL PRECIDENT FOR ANY OTHER ARAB NATION'S CURRENCY APPRECIATING BEYOND AN EARLIER PEG TO THE POUND OR DOLLAR?

On the FLIP side of this, is a very POSITIVE possibility, one John LaRue is favoring...so WHAT if there is no precident?

What if the Dinar IS pegged to the Euro, Pound, Dollar, a barrel of oil, or a basket peg combining several of these values?

If THAT is the case, then it is NOT unrealistic to believe in a one time, dollar for dinar peg at whatever the powers that be DECIDE they are to be, JUST like happened with all the OTHER Arab currencies at one historical point or another.

I mean...at some point, some guys in England/Saudi, DECIDED that the exchange rate would be such and such, and I'm betting that from that day to now, there has been very LITTLE real fluctuation in the value of exchange.

Old dinar are merely exchanged for NEW dinar at a 1 for 1 ration ever decade or whatever and no "progress" is ever made as far as appreciation goes.

If THIS is the case in Iraq, then it becomes PARAMOUNT that we hock every tool in the shed, our cars, children and mortgages to buy every dinar we can get our hands on right NOW, because just like Jesus' return in the "rapture" (the sudden disappearance of hundreds of millions of believer's in a blink of an eye, for those of you who don't know THAT particular tid bit of Bible prophecy) NONE of us know exactly WHEN such a "peg" could come...it COULD be tomorrow.

So...If I've vacillated from bear to bull in my ramblings here today, it is because I am searching, just like you.

I do NOT believe in blindly "believing" in the dinar, in Jesus or anything else. MY decisions are well though out and based on my evaluation of history, science and FACT...NOT just faith.

I do reiterate that I would be SO grateful to you, Michael, or whoever knows, for an explanation as to a similar possible run up in another Arab state's currency like the one we all picture happening in Iraq.

If NOT, I submit to you that there are only three possibilities for what will happen.

1. The dinar WILL be pegged at some point, and it is POSSIBLE that it will be pegged at 1460 to the dollar and left there...Do NOT try to tell me it can't happen, because for all we know...it is a done deal already...it HAS remained stable there for months and they NEED it stable for World Bank status consideration which is going on right now.

On the other hand, I personally think a 1 cent peg is coming, judging by the 100 and 25 dinar coins issued, similar to our dollar and quarter coins.

2. This beast is totally UNLIKE anything in history before us and the sky is the limit, with the Biblical prophecy of Iraq becoming THE economic force in the Mid East and one of the major WORLD powers as well, seeing the currency value itself into the stratosphere.

In THAT case, which is EQUALLY possible, there doesn't HAVE to be another Arab precident...it can be an independent event unlike any other, and 4.80 may be the price 3 years from now.

3. And EQUALLY possible...the dinar is already on a very slow, steady, but exponentially escalating rise in value that sees a year of 1460 a year of 1200 a year of 1000 a year of 700, then 500, 200, 100, 50, 20, 10, 5, 2, par, 1.50 each, 2.00 each, 3.00 each 3.60 each, 4.80 each etc. over the next decade or so..COULD be less.

I just don't see any other possibilities, unless the peg is like John's 16-24 cent each range and THEN a steady rise as in scenario #3.

Well...enough blathering by me for now.

As always...what do YOU think? I WANT to hear your ideas and ESPECIALLY any FACTS you have about the history of other currency escalations in value IF there even are any.

I remain cautiously optimistic, BUT, if there are NO examples, including Israel after 1948, then I think we need to temper our expectations to understand that it will ONLY be if the Iraq thing is a totally NEW beast, one that DEFIES previous history in other currencies, OR that a huge peg is coming and we need to just flat GAMBLE on it as we have been.

This is as logical and as straightforward an evaluation as I can come up with at this time...at least until more information is forthcoming.

Have a great Wednesday, my fellow dreamers, and hopelessly hopeful believers in fairies, UFOs, ethical politicians, Elvis sightings in Maine and dollar dinars!

Russ

Comment by Russ Reimer at March 9, 2005 02:23 PM | Permalink

And oh yeah..Joe..your comment about the average stock market portfolio doubling every 5 years. I've trades stocks since I was 18, 30 years now...yep..I'm an OLD geezer!

Today, I trade stock OPTIONS on the Nasdaq tracking stock, symbol qqqq through two accounts, one with Ameritrade and one with Scottrade, which I prefer.

I like the craps shoot of hitting individual stocks like Google (goog) or Taser (tasr) but the advantage of trading a 100 stock index fund like the Nas 100 qqqq, means greater safety WITH huge potential for gain on a highly leveraged 30 day option play. I've made and LOST fortunes doing this, but a good run can see 500 bucks hit a hundred grand in less than 60 days. That is my OTHER passion.

HISTORICALLY, the stock market has averaged 7% returns per year since the late 1800's.

If you compound 1.07 per year for 5 years, you have an appreciation in your original capital of 40.255% total, or 140.255% or your original 100% investment.

Of course, if you invested in Nasdaq in March 2000, when the qqqq stock was 120 per share, you only have about 37.76 per share today! Such are the whims of the market.

(Conversely, if you had used a sophisticated technique called "shorting the box" of BUYING the qqqq stock, SHORT SELLING an identical share quantity, and then SELLING options on your position each month--called covered call option writing--through the low of October a year ago or so, you'd have seen the value of your portfolio rise by double and the number of SHARES you own of qqqq stock rise by 500% during the period when everyone ELSE was losing 78% of the value of their Nasdaq holdings...qqqq actually went from 120 down to 20 dollars a share 17 months ago and has almost doubled since the low.

Back to your "stock market doubles every 5 years, if your 7% annual take has been traded on, bought or sold or changed in stock type or quantity, you will have had to pay long or short capital gains taxes on that, and won't have NEAR 7% annual appreciation.

Still, let's say you left the money in stock, didn't touch any or trade in and out of stock positions, and just rode the market at a 7% annual appreciation rate..it would ACTUALLY take you just a hair under 10 YEARS to double your money, not 5.

Again, THIS is the reason it is imperative to question ALL the information you see in this thread, on the news, in the Bible...ALL sources.

You CANNOT ignore or take for granted what someone says or FEELS about this, and you CANNOT base your expectations or CASH on information shot full of holes.

When you list your info here, it BETTER be right, or there are those of us who are gonna PEG you on it, but good...not for the sake of giving you an intellectual "wedgie" but to prod you and everyone else to CHECK IT OUT FIRST, and to TAKE NOTHING AT FACE VALUE.

Yo BIG FAT MAMAS!

Russ

Comment by Russ Reimer at March 9, 2005 02:43 PM | Permalink

Russ:

I am so glad I ran across you on this site. I have a question which I want to ask, It is a religious question, so those of you who don't want to read this, pleas skip.. Russ, I love god, love to read about god, and take jesus as my savior, dont get me wrong, but I cannot understand why god seems to bless people who are scum of the earth. Let me explain, god is in control of everything as I understand, and has the power to bless... But I personally know people who lay drunk for weeks, would not help his brother in need if they were hungry and on the streets, and I even have an uncle who abused his step-daughter sexually and mentally for years, and Ironically has a gospel band started now, who is a millionare.. All the people who I speak of are millionares, I know them personally, But they have a constant flow of cash and good luck spread on them daily in their lives. I know this will make you blow your top, but dont take it the wrong way, to me it is like god blesses sin!! These people are livibg in sin as I can tell... The reason I ask you this question is because you are so intellegent with your bible study and practically know the bible by heart.. I feel if anyone can answer this question, you can. Please, if you know the answer and it is written in the bible, please include scripture in your answer.. Again I apologize to anyone who finds this offensive, I just need to know the answer!!! thanks Iren

Comment by Iren at March 9, 2005 03:13 PM | Permalink

Terrace!
I wondered where you have been? Don't you guy's gang up on me too bad,you know I'm just a ole simple country boy.
Russ with some help from others has not had any problem keeping the ant pile stirred.
Good to have ya back.

Comment by Carl at March 9, 2005 03:20 PM | Permalink

Background music while you expound your wisdom.

http://www.whitehouse.org/media/ashcroft-bacon/index.asp

Comment by Joe at March 9, 2005 03:31 PM | Permalink

Carl -

Good to be back - thanks

I would never gang up on you...not my style as you know. I'm just one beggar showing another beggar where to find some bread.

Surf is up out here today - going to Tressel's with my son to do a little long boarding. I'll check back later to see what's up.

T-

Comment by Terrance at March 9, 2005 03:42 PM | Permalink

Joe!
Remember we all are from different backgrounds, ethnic groups, and faiths.Age has given me the wisdom,to realize just because I may not always agree with the writer in their content,doesn't mean the information is valueless.
Russ has made good points regarding the history of the middle east being recorded in the Bible. Now whether you believe any prophecies stated, well! that is a individual choice. Just because you, I or anyone else believes or disbelieves in any particular prophecy doesn't make it true or false. It simply feels true and right to that individual, and they have made a choice to put their belief in that subject.It is no more or less than that, an individual choice, and there is nothing wrong with that.
So! take a deep breath and just read. If any article written on this board makes you think,or you find 1% of the articles have given you knowledge, then you have gained.
Keep Smiling

Comment by Carl at March 9, 2005 04:03 PM | Permalink

Interesting stuff about Jordan here guys:

http://story.news.yahoo.com/news?tmpl=story&cid=572&ncid=572&e=3&u=/nm/20050309/lf_nm/iraq_jordan_dc

cant wait to see this happening in Iraq!!!!!

Comment by michael at March 9, 2005 04:22 PM | Permalink

The new Iraqi dinar is a temporary currency and will be withdrawn when a newly elected government takes office.

When a new elected government takes office the current Iraqi dinar will be replaced by another new iraqi dinar. That was a firm condition between the CPA and the transitional governing council of Iraq in August 2003.

http://www.funtrivia.com/playquiz.cfm?qid=167106&origin=

If you look up Bremers(CPA) address statement issue of NID in 2003 this is stated

Comment by xxx at March 9, 2005 05:03 PM | Permalink

I am so sorry there is tention on this site. I would like to say that if I ever posted anything that offended anyone, it was never my intention. I really consider all you guys as friends and it doesnt matter to me if you beleive different from me. Shoot im just a disabled guy from alabama who shares the same dreams as you guys. Actually you guys are the only friends I have, and I thank you for that. You know I went to college, won awards, and scholorships hopeing to get off disability someday. But I am still waiting for someone to give me a chance. Know one wants to hire someone in my condition. I was at the end of my road, I ask god to please help me, and i dont lie to you, my uncle who worked at the pentagon until he retired this year, walked in my door the following morning with this dinar investment. I dont know why, he just told me he was led to share it with me. So you can take that for what it is worth..
Anyway, what I wanted to say, is I am disabled because of injuries I received in a car accident years ago. I thank god for my little check every month and I would also like to thank each one of you who pay taxes so I can have this check. I dont want to take money from you guys, and I wish I was working to pay taxes and help my country, but I cant. from my hart, thank each and every one of you!!! I just hope and pray that this investment comes true for my kids, not me.. That is why I have to beleive it must happen soon because I know in my hart, I want be here in 10 or 20 years. I just cannot leave them here with nothing.. Anyway thanks friends

Comment by Michael at March 9, 2005 05:06 PM | Permalink

Russ,

This is a partial attempt to answer your question. More research is necessary I'm sure. I copied and pasted this from. This is a start, but someone smarter than me is going to have to fill in the gaps.

http://www.ameinfo.com/financial_markets/Saudi_Arabia/Currency

Currency history:
The Hejazi Kingdom was established on June 10, 1916, and the Sultanate of Nejd and its Dependencies was established on August 22, 1921. Jebel Shammar was incorporated into Nejd on November 2, 1921, and Asir was incorporated into Hejaz on November 20, 1930. Hejaz and Nejd were united to create Saudi Arabia on September 22, 1932.

Silver Maria Theresa Thalers (XMTT) and British Gold Sovereigns (GBP) were used in the interior of Arabia before the establishment of Nejd and Hejaz with 1 Gold Sovereign (Pound) equal to 5 Maria Theresa Thalers. The Arabian National Bank of Hedjaz issued banknotes denominated in Pounds. Both Nejd and Hejaz minted local coins of lower denomination with 1 Riyal, equal to a Maria Theresa Thaler, divisible into 100 Piastres or 400 Para.

This situation created a bimetallic monetary system based upon British Gold Sovereigns and silver Riyals. The Saudi Arabian Riyal (SAA) was equal in weight to Maria Theresa Thalers until 1936 and the Saudi Sovereign Riyal (SAS) was equal in weight to Indian Rupees after 1936. British gold Sovereigns and the Silver Riyal fluctuated in value against each other. The Sovereign was equal to 11 Ghirish in 1928, 110 Ghirsh in 1931 and 440 Ghirsh in 1952.

The Saudi Riyal (SAR) monetary system was reformed on October 22, 1952, creating a single currency originally backed by Saudi gold Guineas equivalent to the British gold Sovereign. Specie money continued to be the basis of the Saudi monetary system until December 31, 1959 when the rising price of silver forced the Saudi government to devalue the Riyal and introduce a new monetary system based on fiat money issued by the Saudi Arabian Monetary Agency. The Riyal is divisible into 20 Ghirsh or 100 Halala.

Comment by Dave A at March 9, 2005 05:20 PM | Permalink

Here some more info to look at regarding the history of the Saudi currency.

There is alot more on this website

http://www.saudiaramcoworld.com/issue/196901/the.riyal-a.miracle.in.money.htm

There are many things to note here, but it looks to me like the Saudi note has been strong since it's beginning. There was no slow gradual rise.

One of the key factors that is worthy of mention is the fact that Saudi Arabia is one of the only nations with no national debt, thus a strong currency. With all of the cancelled debt in Iraq, could they be the next Saudi Arabia? I think so.

Look at this paragraph:


"Now the Saudi riyal is linked with other world currencies by an agreement with the IMF which fixes the par value of the riyal at 22.2 U.S. cents per riyal, or 4.50 riyals to the dollar, a rate which has remained unchanged since 1960. Riyals are issued in the form of monetary agency notes valued at 1, 5, 10, 50 and 100 riyals. Each riyal is divided into 20 qirsh, which circulate in the form of cupro-nickel coins of 1, 2 and 4 qirsh."

Grab your boots everyone, Terrence is taking us to Hawaii!

Hey Russ, one more thing. I am a Christian as well, in fact, I'm a pastor. There is only one thing wrong with using prophecy as an indicator for what the Dinar will do soon. None of us know when the prophecy regarding Bablyon will be fulfilled.

Christians since the days of the apostles have been waiting and praying for the inevitable foretold second coming. How do we know it will soon come to pass?

Based on your eschatoligical comments it's obvious you are a pre-millenial futurist. This is fine, but you must realize that there are many God fearing believers who differ on this. They aren't liberal theologians either. For example, RC Sproul.

Just some food for thought.

Comment by Dave A at March 9, 2005 05:44 PM | Permalink

Can we please stick to the subject (which is the IQD) without all the prostletizing and gingoism? After all, we all have a right to believe whatever we want , and there is little likelihood that anyone is going to convince anyone else about spirituality on this blog. If you bought IQD because of some religious epiphany, then great! Many of us have very heartfelt reasons for investing, so let's please stick to the one thing we all have in common: the Iraqi Dinar! Thanks.

Comment by cactuspry at March 9, 2005 05:48 PM | Permalink

Nice to meet you Iren, and I'm getting ready to spout a mouthful or two, so I'm givin fair warning to all of you who don't wanna hear none o that gospel garbage to clear out for a few minutes so I can take a crack at Iren's excellent question.

This WILL have to do with the dinar and money in general, so if you ARE so close minded that you want nothing to do with ANY spiritual reference, you ARE gonna miss out on some neat stuff I've picked up in my crazy life so far.

Fortunately, I'm takin off today and have some time to shoot the bull here on the thread, Iren, and I have to admit that I LIKE the way you question things...I'm the same way.

First of all, you've basically asked what King David asked, what Job asked and pretty much EVERY thinking man or woman has asked themselves at least, thoughout history...why do the righteous suffer and the ungodly prosper?

I just flat don't have the time to look up all the scriptures pertaining to this subject, BUT I'm a walking encyclopedia to the Bible in a lot of areas because I study it constantly.

Back in 1980, I went to Oral Roberts University in Tulsa as a Theology major and worked with missionaries for a while, before really finding out inside that I flat wasn't cut out for the stereotypical preaching job...just not my spiritual style.

For starters, I want you to get the number one book on finance ever written, called "The Richest Man in Babylon" HEY...I never thought about it before, but this neat, decades old fictional account of WHY some are rich and some are not DIRECTLY pertains to Iraq!

In this book you will find out that three are LAWS pertaining to money(I believer God created these laws, just like the laws governing physics, human relationships and the universe in general) and whether a person is spiritual, Godly, good, evil or just plain STUPID...if these laws are followed, that person WILL prosper and flourish.

I've heard a neat old saying that even a BAD farmer, if he uses GOOD seed, plants in GOOD ground, and gets GOOD rainfall and sunshine, WILL get a GOOD harvest.

It DOES seem that many times, the Godly people, or just plain old GOOD people suffer from want, more than their share..why is this?

Personally, I believer that there IS a spiritual area of darkness directly overseeing money. This "god" was called Mammon by Jesus, when he said "you cannot serve God and mammon." Most of the 4 gospels record this.

The LOVE of money is the root of all evil, according to Jesus in Matthew, and I find it very interesting to note, that the financial resources of the 12 disciples and Jesus were handed over and kept by one man...know who? JUDAS, the one who betrayed Jesus to death for 30 pieces of silver.

When someone asked Peter if his master paid the Roman tax, and Peter asked Jesus about it, Jesus did not even own enough to pay the basic two bit citizen's tax, but told Peter to go fishing, and open the mouth of the FIRST fish he caught to find the coin there to pay the tax for the both of them...yet another recorded miracle we ALL wish we could repeat each April 15th!

In short...Jesus had NOTHING to do with money while on earth, other than overturning the stupid money changer's tables in the temple where they illegally were selling sacrifice animals for those who had none to bring to the priests for their sin offerrings.

Money is a trap or a blessing. Truth be known, for MOST people it is an intense trap, creating greed, lust, causing murder, theft, divorce and violence of all kinds.

I USED to be a semi professional gambler in horses and casinos, winning as much as 14,000 in a single 24 hour period (and losing much more...over 200 grand before I wised up!) I've seen the devastating problems money causes...the lack of it and the too sudden possession of it.

Money is typically NOT possessed, but possesses its owner.

Jesus pointedly said, "Lay NOT up for yourselves treasure on Earth, where moth and rust doth corrupt, and thieves break through and steal. But lay up for yourselves treasure in heaven, where neither moth nor rust corrupt,and thieves do not break through and steal...for where your treasure is, there shall your HEART be also." Matthew...first 7 or 8 chapters as memory serves.

Unfortunately, MANY preachers preached a basic POVERTY message for centuries, believing erroneously that being POOR was somehow being SPIRITUAL. I can tell you that while greed and monetery avarice WILL get you a ticket to the HOT place (and we ain't talkin the Carrabbean here!) it has been MY experience that the ABSENCE of money can also be a terrible root of evil, as well.

Most folks just can't balance it, Iren. Let em win the lottery and they get a divorce, buy all new stuff, lose all perspective on life since the lives of their family and friends STILL revolve around work and child rearing..they get bored watching movies all day, going on vacations all alone, buying new cars or acquiring all kinds of OTHER trinkets and glittery toys, and many time blow their brains out with millions in the BANK!

Don't believe me? Is Mike Tyson broke? Is Michael Jackson? How bout all the football players, and basket ball former greats?

MONEY POSSESSES YOU...VERY seldom the other way around. Jesus said "it is easier for a camel to go through the eye of a needle, than for a rich man to enter the kingdom of heaven." again, Matthew, early chapters...around 6 or 7.

Why do the UNGODLY have wealth? Why do the Godly have none, quite often anyway?

One serves one God...one the other..Mammon. One is enslaved, one is not.

HOWEVER, again, the GODLY usually are also ignorant of the LAWS of money and finance because their upbringing leads them AWAY from studying such "ungodly" areas, while the secular folk DO study and learn the laws of money and profit by them.

This is why I want you to get "The Richest Man in Babylon" and read it through two or three times in a week..it's EASY to read, short and WILL keep your attention at all times.

Why MOST people fail to ever grow wealthy is this, Iren...they don't save and they CHARGE stuff on credit. You CANNOT grow wealthy if you are in debt...can't be done. A lack of discipline with credit will mean a lack of ability to control one's self enough to put money by EACH paycheck and to invest it.

A person not saving at LEAST 10% of their weekly income is living FAR beyond their means and will never amount to a hill of beans financially.

A person who smokes, drinks, eats out all the time, goes to movies all the time, paying 3.50 for popcorn and drinks, who spends too much on gasoline or new car payments when a USED, PAID FOR car would save them 500 a month on insurance and payments etc. is DOOMED to fail financially.

Living FOR TODAY, means cutting off limbs of the money tree you SHOULD be watering. Example...you own 4 million dinar at a cost of 3500 bucks. You see a new Mustang you want that needs a thousand down and 400 a month to finance. The dinar ain't movin and you are sick of the self sacrifice of buying more.

So..you dump two mill and get the stupid Mustang. BAM...you just WASTED your money tree. You cut off HALF the branches AND have made it impossible to buy the 700,000 dinar a month MORE you COULD have bought by NOT taking on the 400 a month payments AND the 110 insurance! You made a CHOICE to live for TODAY instead of betting on the rewards of TOMORROW.

A failure to SAVE 10% of your check each week is the first failure...your lifestyle MUST be altered to allow for a 10% savings rate MINIMUM, and it is very funny, if you DO make the commitment to save, how your life WILL come into line with your new discipline.

It amazes people who thought they COULDN"T get by on 100% of their after tax checks, how they CAN get by on 90% if they make a decision to just SAVE the other 10% no matter WHAT.

The idea is to trim the stupid OUTFLOW of money we all suffer to sodas, snacks, tennis shoes bought NOT on sale, and tons of OTHER passing fancy garbage of no lasting value, and start INVESTING...the dinar is PERFECT for now and a little discipline THERE allows one to buy for about 780 per million right now, and SELL it in 100 k lots on ebay for an average of 95 bucks per 100k, just like I'm doing on 2.5 lots today.

You have to HAVE money to MAKE money, because money is like a tree you plant. If you plant 10,000 in buying the Nasdaq 100 stock index today for 37.60 a share or whatever, it is a CINCH that you will have not less than 20,000 in 10 years and 40-60 grand 10 years after that.

But why wait so long? Save 10 grand today or 10 hundred, and buy dinar...drop the amount sold to 100k and mark em up 15 -19 bucks per 100k and sell em on Ebay for a weekly gain of 15% plus.

Most Christians and "righteous, good people" just flat don't think this way...like an entrepreneur. Money is a TOOL and WILL grow if not spent and put to work in any of DOZENS of areas out there.

Mose people are broke because they SQUANDER what they HAVE on idiocy...it's like there really ARE holes in their pockets...they stupidly pay ATM fees of 2 bucks a whack, when they can get 50 bucks CASH BACK with each purchase at their grocery store or the post office for FREE.

They don't treat money as precious and MANAGE what they ALREADY have by keeping good check book accounting, and lose 25 bucks here to THIS INSF check or THAT overdrawn fee of 35 bucks at the bank or whatever. EACH of those mistakes could have seen 30,000-40,000 dinar purchased and tucked away!

A McDonalds number 1 combo will buy you over 5000 dinar! A coke at subway is worth a good 1500!

Do we JUST stay home and eat beans and sardines? NO...but most are broke because they have no VISION first, and no DISCIPLINE second, and no GAME PLAN thirdly.

This is NOT a spiritual thing on the one hand...obey God's laws of finance and personal discipline, and grow rich...it is impossible to fail..it is law.

Yet, to VIOLATE that law in any way...for one thing, by ignoring giving the Lord the TITHE, which is 10% of your income BEFORE you take 10% to save (yep...I live on 80% and do well, thank you!) WILL get you on his bad side in a hurry, and the Bible states very clearly that "whom the Lord LOVES, he CHASTENS."

This is ANOTHER reason the ungodly flourish a lot of times...they have stumbled on God's laws for money and finance and FOLLOW them, while the Godly person is quite often being chastised by the Lord in other areas of their lives for their EVENTUAL good and growth.

The wicked are under no such learning curve, as the enemy already owns them AND keeps them in bondage through various habits AND through subserviance to the OTHER god...Mammon, which was placed directly under his control by the Lord at the beginning of earth.

Remember when Jesus was fasting for 40 days and was in the wilderness, and Lucifer came to him and said "all the kingdoms of the earth will I give to you if you will bow down and worship me?"

The kingdoms of the earth are Satan's to give..he runs the casinos, the race tracks, Wall Street, the currency markets...ALL of it having to do with Mammon, or himself, the god of money.

We are negotiating our lives on HIS turf, but are at a seeming disadvantage since we have to play by GOD'S rules.

It is my distinct intention to take the dinar windfall and any stock options profits one day and to create a Christian Camp in Durango/Silverton Colorado, along with my wife and other relatives.

THAT is using money correctly. Isn't it interesting to note, however, how MANY people who once served the Lord were seduced by money? Jim Bakker is the tip of the iceberg.

It is ALWAYS a fine line between possessing and USING money, or being possessed and being used.

Most PEOPLE, let alone Christians, have little idea of what is involved, or how it can change lives around them...just WAIT till you make it in dinar, and then have to deal with relatives and friends hitting on you for loans or gifts.

MANY relationships are destroyed by wealth, trust me..I am part of a very wealthy family, though I'm not wealthy myself...far from it...I am STILL learning from and paying for PAST investment mistakes!

Another reason many good folks don't become wealthy, while the ungodly often do, is that a LOT of money in your possession will cause you to play God in other people's lives around you, and God really doesn't want that I don't believe.

In fact, while I talk to YOU guys about the dinar..it is only because you are ALREADY in it that I do so. I do NOT talk to friends or relatives about this, OR to casual acquaintances.

Here's why. If I won the lottery (and this is an example...lottery is for fools, same as horses, casinos and all other forms of such with a PRE determined house "edge." There IS no such edge in stocks, real estate, the dinar or other areas and THAT is the difference between gambling and speculating) I might want to buy my brother a new house, set my Dad up in his own business, put my sister on the road as a Christian singer and do some other "good" stuff for those around me.

HOWEVER...I am NOT God and I am NOT a bank, as my rich uncle once told me when I went to him for a loan. If I make the road easy and all smiles for those I love, I IMMEDIATELY take away ANY chance God would have had of dealing with them in areas of finance, responsibility to tithe on what they EARN, of having FAITH to get them through the rough spots etc....I would ROB them of valuable life experiences and growth in their walk with the Lord.


I don't HAVE millions right now to affect other people's lives that way, but what I DO have is the potential SECRET of how to get there in a HURRY if the dinar explodes.

I have the SAME potential to devastate their spiritual growth by telling them about the dinar IF they take my word for it and buy a few mil or so, or even a MIL, when they WOULDN'T have if I hadn't opened my mouth, and God doesn't want me to PLAY God by doing so.

How do I know that? He told me directly..clear as a bell in my spirit and mind...just words coming into my inner spirit that I am NOT to discuss this with those outside the EXISTING knowledge of dinar about this at all.

Remember the "prime directive" in the original Star Trek series with Captain Kirk, Spock, Uhura, Scotty, Checkov and Sulu?

NON INTERFERANCE in any primitive society on a planet they visited. No view into future technology, no BETTER ways of conducting elections, no break throughs in medicine etc.

I'm no Trekkie, Trekker or ANY such at my advanced age, BUT the wisdom of that aspect of the show is brought home to me again and again.

Iren...the NATURE of Christian/Godly people is to give and help others around them.

IF a great many of them were to become wealthy all at once, they would GREATLY influence the world around them by inadvertantly "playing God" in spreading the wealth around.

MANY people, whose faith needed to grow under normal life's trials situations would be "spared" the hardship and would be FAR weaker for the trials that come down life's road later on.

I'm CONVINCED that most Christians will NEVER see great wealth for this reason...the danger of affecting too many others through well intentioned giving.

I wrestle with this daily as I am convinced that my destiny is to acquire and manage great wealth for the kingdom of God. It is this conviction of personal destiny that led me to the dinar, has kept me trying areas like stock options trading, commodities trading, and even gambling back in the day when I though I could conquor the Blackjack tables and put a fortune together overnight.

I KNOW I will make this because it is in my spirit to do and has been since I was young.

Along the way, the Lord has had to train me a LOT in looking BEYOND just the making of money, into the REASONS money behaves as it does, into how to manage and not LOSE it once attained, and how to not destroy lives around me when it comes.

In Solomon's dream, given him after offering a THOUSAND sacrifices to the Lord the day before, he was asked what the Lord should do for him. (This account is in the Book of Samuel and Kings, first part of the book, though I can't recall off hand if it is 1st or 2nd Kings or 1st or second Samuel)

Rather than ask for long life, riches, or the lives of his enemies...Solomon asked for WISDOM to manage it all, and to lead his people.

God gave him wisdom and all the rest TOO, INCLUDING 300 wives and 700 concubines...eat yo HEART out Magic Johnson!

Wanna know something interesting, as I close this LONG entry?

Solomon was the WISEST man who ever lived, and probaby the wealthiest. He had it all...the women, the gold, the fastest horses and chariots, biggest army etc.

But read Ecclesiastes..it is one long book of "vanity, vanity ALL is vanity...I appied myself to drink and it was vanity...I applied myself to the finest women on earth and it too was vanity...I applied myself to building a vast empire and now grieve that I shall soon die and it shall ALL be left to another less worthy than I."

Does this give you a CLUE why most Christians never have wealth?

It is hard to obtain, hard to manage and destroys one's perspective and the lives of those around them at the first sign of not being managed with a GODLY perspective and utter wisdom

It focuses the mind of the owner on EARTHLY things, possessions, cars, status, whatever as seen on the "Apprentice" TV show each week with Donald Trump looking on. (Yep, I love the show...I STUDY money, those who have it, how it is attained, used, grows etc...you CANNOT be a fool about this...not in ANY area) and is in direct conflict with eternal things MOST of us can concentrate on alone.

I DO feel that certain individuals in the Lord's ranks attain the proper knowledge of how to USE immense funds and are blessed with those funds when the time comes...I live my life KNOWING I am one of those people.

Truett Cathey who started Chick-fil-A restuarants is such a one. Paul and Jan Crouch who have used the hundreds of millions of Trinity Broadcasting Network funds to build thousands of TV and radio stations across the world for spreading the gospel are two others. (Yes..I'm aware of the homosexual charges against Paul AND am driven crazy by Jan's outrageous outfits...but the RESULTS of what they do cannot be argued...the BLESSING upon them cannot be debated..it is there for all to see...their PERSONAL records of conduct WILL be examined before the Lord some day, just like yours and MINE...I just flat don't judge em...not my job!)

I have gone over countless scenarios of how to responsibly MANAGE the wealth that eventually will come to me, if I learn these lessons to the Lord's satisfaction. Mostly, I see that the way God functions on Earth is through many SMALL relationships, and donations of 5 bucks or 20, rather than through one man or woman dishing out millions to this building project or whatever.

We ALL tell God things like..."If you let me win this Readers Digest Sweepstakes or that lottery, I'll build your kingdom on earth...I'll feed the hungry, clothe the naked and house the homeless...just you wait and see!"

The deal is...any and EVERY heathen movie star has their own pet charity they give to...doesn't matter a hill of beans to God, because our giving must come from our FAITH, not our SUBSTANCE.

Who gave the MOST in the Bible, according to Jesus in Matthew, who was watching the offerrings being put in the money box one day in the Temple? The little old widow with here two dinar offerring!

Jesus said essentially, "all the others gave a lot larger offering to God based on what they HAD...this woman gave out of her NEED."

It is millions of folks serving and loving the Lord by giving out of their NEED, in FAITH that God sees and will provide their daily food and sustinance that is the key, and yet ANOTHER reason God doesn't dump much on most Christians and believers...it negates FAITH.

Why have faith in God for ANYTHING if you are a multi millionaire? Who needs him then? In fact...the only OTHER reason folks come to him after they are wealthy (unless they have grown to the place where they have faith no matter WHAT, which is probably the reason they finally became wealthy to START with!) is that their HEALTH goes, or their wive's or husband's and suddenly, their money won't act as GOD anymore!

How much MANNA (bread that rained down as dew in the early morning and was gathered by the people almost as grain sprinkled on the ground from above) was given to the Israelites in the wilderness after Moses led them out of Egypt, Iren? A month's worth? A week's?

Nope...a DAY'S worth, and those who violated God's order through Moses to only collect enough for ONE DAY (except on Friday morning, when they could gather TWO days worth to keep from violating the Jewish Sabbath by "working" to pick it up on Saturday morning...Sabbath was, and still is Friday night sundown to Saturday night sundown) found it ROTTING in their containers, filled with MAGGOTS the very next morning.

Why only a days worth? FAITH!
AND dependance on HIM, NOT money or anything else.

Iren...SOME learn how to have faith, money or not, and God can THEN bless them with vast quantities to move the kingdom of God forward through wisdom and NOT playing God in the lives of others...MOST can not, and never will.

Most MUST be kept in the "manna for today alone" situation of BELIEVING in the Lord through FAITH at all times throughout life.

The unrighteous are not like that...the more money they have the smaller the little faith the MIGHT have becomes...their faith becomes faith in MAMMON, not God.

And Iren...MOST of us are one bad event away from questioning our faith anyway. Let a son or daughter be tragically mutilated in a car crash and I guarantee you that God WILL be questioned.

Come home to your house being burned down and you WILL have words with the Lord if you are normal, and will probably get mad to boot!

Faith requires CONSTANT work and money really chisels away at the basis of faith. Money is a smoke screen, an idol, an diversion from the REAL things of importance, and MOST people cannot handle it...just look at their charge accounts, how they don't give the Lord his 10% as required in the last book of the Old Testament, Malachi, how they blow it on passing fancy, sodas, new car payments WAY beyond their needs or means, and trinkets of all kinds, like big old kids going to the toy store of life etc.

Wealth is for the few, but ANYONE can attain it if the rules of money are followed...again, to ignore my admonition to buy and READ "The Richest Man In Babylon," by George S. Classon, STILL found in ANY book store business section after DECADES of being in print, is just ASKING for trouble...that book changed my entire perspective on money and if you follow what it says, you WILL grow rich...it is impossible otherwise.

What happens AFTER Wealth is attained is another matter entirely...that is why I refuse to discuss the dinar WITHOUT addressing the spiritual side of life because wealth WITHOUT having your spiritual/eternal values and relationship with your Creator FIRMLY established, will just make you another Elvis Presley, or Howard Hughes, or Michael Jackson, or Marilyn Monroe, or Brando, Carson, Bronson, Belushi, Tyson, Solomon, Marvin, Karen Carpenter, Melissa Gilbert, Mercury, Freddy Prinze, or any of the HUNDREDS of bankrupt former NFL, NHL, NBA etc. stars who had no perspective, no spiritual footing, and became captives of this force, called money.

Long explanation, but many of you will now know in depth where I'm coming from and what makes Russ Reimer tick.

Frankly, it's very simple. All any of us have of our lives lived so far is photographs, a few current possessions, a child or two perhaps and a few good friends... ALL of these will pass, just as the things before them in the photos of our mind's memory have.

EACH of us is on Earth to establish a permanent, eternal record of faith and relationship with our Creator and Father, and his Son.

We are ALL performing before a stage far greater than the Olympics...we are proving our worthiness to be part of the ETERNAL life we are already part of.

Cut off my arm...am I still me? Cut off a leg and then another...am I any less ME?

Remove my limbs, my ears, my nose and cut my face off.

Blind me...remove my tongue and leave me a skinless torso with no way of even communicating. (Flashbacks of a novel they made us read in High School, "Johnny got his Gun.")

And I ask you....after all of THAT, though NO one can look at me, and I can no longer communicate with the outside world at all...AM I STILL ME?

Of COURSE I am! In the darkness of even THAT Earthly hell, I am STILL me, just as YOU would still be YOU.

It is at THAT point that most of you who ridicule us in this thread for being "Bible Thumpers" and other rude remarks, would REALIZE that you are SPIRIT, and not a stupid, eroding, aging BODY of cells.

At THAT point, you WOULD suddenly find faith and know what truly matters in life,and that is...the PASSING of this life into the one were were REALLY meant to life...the life with our Father, his son, and the COUNTLESS folks who are the epitome of love, goodness, caring and everything ELSE all of us TRULY want in our lives.

But JUST as surely, there will be a place for those who DON'T ever get it...for the Timothy McVeighs who blow up buildings, the Hitlers, Saddams and Osamas.

I ain't sure what hell IS, but I sho ain't a goin to find out! And it AIN'T cause I'm worthy or because of some "good" thing I've done or do.

The ONLY thing that separates me from the worst mass murder that ever lived is that I'm forgiven of sin and have TURNED from intentionally sinning any more. I still goof up, get mad, etc. but I ask forgiveness each time and WALK the walk each day in all I do.

I've devoted over two HOURS to writing this now, because the Lord sent Iren to ask this question, and because it is the RIGHT thing to do to relate this information.

Another man chooses to commit adultery today during this period of time. A woman shoplifts. A teenager cusses out his friend. A stock broker scams a client.

It is ALL about choices and the record we are establishing of WHO WE ARE BEFORE OUR JUDGE AND KING. (Not to mention best friend, provider, healer, confidant and the one who gets us out of our emotional slump over and over and over!)

Buy dinar folks...buy all you can scrape up the money to have shipped to you.

But again, if your spirit is empty...if you are relying on YOU and have no use for the Lord...you are living life on the level of any animal on earth...satisfying your hunger, sexual appetites, lust for power or position and ego alone.

No wonder so many famous, rich, intelligent stars of TV, Movies and sports before you have lost it all, killed themselves, and ended life in despair.

Will you LEARN from them, or BECOME one of them.

Final word...I talk to the Lord like I'm doing you here. I joke with him, tell him what I'm thinking all day long when I get a chance...same thing you'd do on your cell phone when you get a break over lunch or in the car....call up a friend to pass some time.

That's all he asks...read the Bible so you KNOW what he expects of you, visit his house to honor him each week along with the OTHERS who have found what's really the deal here on earth...turn from EVERYTHING you KNOW is wrong in your life...stop watching women's butts and breasts (a hard one for me, though happily married!) ditch the crap filled TV shows and movies, clean up your language, drop the drugs, cigs, booze and other stuff you KNOW is killin you anyway...in other words...make God your FRIEND, and just SEE what happens!

I'm already RICH, folks...you can be too. I HAVE real wealth, but the earthly wealth isn't far behind either.

Makes no difference if not, however...my direction is set, my future secure, my destiny is eternal...so is YOURS, but you better decide WHICH.

Like being seated in a restuarant, I'm gonna ask you THIS about your eternal destiny...

You want smoking, or NON smoking?

This is the windbag, Russ...signing off for now.













Comment by Russ Reimer at March 9, 2005 05:49 PM | Permalink

Sorry Cactuspry...those are YOUR wishes, but we don't share em, and again..just skip what you don't like...NEVER presume to try to censor any of us, or lecture about what YOU think must be discussed to the exclusion of other ideas or topics.

The dinar is part of a WHOLE and the WHOLE can be discussed by any of us at any time. It is not up to YOU or ME to tell ANYONE else what they can say or can't.

Don't like it? Tough noogies.

I may seem harsh here, but it is statements like you have made that DISCOURAGE some of the more timid contributors from saying what I may wanna hear and I WILL not allow you to stiffle anyone with your narrowness.

So...anyone want a war? Try censoring me or anyone else in this thread and I'll give you one.

Christians are taken as pansies when they are the strongest people living.

I'm a warrior from way back.

Incidentally, YOUR entry gave not one SHRED of information about the dinar, no helpful insight, no relationship to other meaningful areas of any of our lives.

You gave an emotional, non constructive WISH list for us to follow and as such, have failed completely to contribute to our future or collective good concerning the dinar.

Come on back when you can offer a bit more, eh!

Russ


Comment by Russ Reimer at March 9, 2005 05:57 PM | Permalink

Hi Pastor Dave. Timing is ALWAYS the key to prophecy, BUT, I dare anyone to NOT look at world events, the restructuring of Iraq, the provision already made for the rebuilding of the temple in Jerusalem etc. the preaching of the Gospel to all nations, which could NEVER have happened until the advent of the current satellite/internet based information outlets etc. and NOT deduce correctly that the time for Babylon/Iraq's assension is at hand.

XXX..I don't doubt that yet ANOTHER new Iraqi dinar could be coming and the 220million printing the FIRST one is only 2 days oil production, BUT the current dinar would be exchanged 1-1 with the new, so other than the hassle of doing so, who cares? The usual time line for exchanging old and new is quite long, not like the several months given for the Saddam stuff.

Russ

Comment by Russ Reimer at March 9, 2005 06:09 PM | Permalink

GREAT stuff on the Saudi money, and THANKS.

Does confirm my suspicion, however, that there WAS no escalation in value, but rather, a one time valuation that stood for decades with no appreciation at all.

I'm BETTING that this is the case with ALL Arab currency and that there is NOT a single case of precidence to base our collective belief that the dinar in Iraq will soar on a steady or accelerated scale.

It would SEEM that our hopes may be pinned on a one time "peg" that makes us a ton of money in a single day.

Russ

Comment by Russ Reimer at March 9, 2005 06:14 PM | Permalink

Russ-
Yes, I find you to be a bit harsh, and quite defensive, so please let me explain. My previous post was not meant to censor anyone, as I think censorship is a fascist tactic. I merely was hoping for a return to actual economic information regarding the IQD. You are correct that my post did not have anything to offer regarding the future of the Dinar. This is because I am trying to get information and why I refer to this blog in the first place. If I had something to add that has not already been repeated, I would most certainly have mentioned it.
You are also correct that my post reflected my wishes, but please note that I did not call anyone names, speak out against your god or anyone elses, or really do anything other than express my opinion, which is what ALL of us are doing. I suggest that you take your own advice, and if you do not like what I have written, then skip it. In the meantime, rest assured that I meant my comment in the spirit of friendship to all.

Comment by cactuspry at March 9, 2005 07:04 PM | Permalink

Well Howdy Cactuspry,

Hey, ain't no lack o friendship from my end either, but whether you MEANT to or not, your "keep the discussion to the dinar alone" was a direct slap in the face to Iren who expressed a very heart felt desire to have some information SHE wanted.

It is THAT spirit of trying to narrow this column to some individully preferred set of discussion parameters that either intimidates, stifles or obastructs the desire of ANY member to contribute, and on any level at which they feel comfortable in replying.

I ALSO want to reiterate that anything I say IS meant as part of entertainment and verbal jousting here...I harbor NO ill will towards you or anyone else, but I WILL be more than happy on any occasion to point out weakness in your methods or content, same as you can with mine.

Diverging opinions are what we NEED here, and again..the ONLY thing I'll attack with the speed and voracity I used on you, is when it is even SUGGESTED by anyone else, that I or anyone ELSE, limit what they have to ask or offer to some narrowly defined appropriateness.

This is a Truck and Barter FREE FOR ALL on the Dinar, and it isn't up to YOU or to ME or ANYONE what direction that free for all goes.

If an entry can be tied into the dinar, the acquisition of wealth, the disposition of financial gain, the PHILOSOPHY of wealth, or procurement of same as it also applies to our hopes with the dinar etc, INCLUDING the spiritual ramifications of dealing with "filthy Lucre" as it has been called since time began, then ALL discussions are valid.

And as such, NONE of us should EVER utter a single word of "this is not the appropriate place to discuss that" or "take that to another thread" etc.

I restate the fact that you DID cross that line and affronted Iren and her question to me.

As for skipping what you wrote if I don't like it...hey...I LIKE it! It gives me a chance to address this narrowness of thought, to admonish others to be OPEN at all times to the wishes and thoughts of others and to just STOP trying to boss ANY of the rest of us around as to what we can or cannot say.

I hope that's clear...I WANT you here, Cactus BABY...but I want IREN here TOO, and I just am not gonna let you scare her off by writing what you did without defendin her AND showing the weakness of your own position in this.

Chill, Babe!

Russ

Comment by Russ Reimer at March 9, 2005 07:38 PM | Permalink

Thanks Russ for the information, It really answers a lot of questions for me. You dont have to take up for me, for I said at the begining of my post that it was religious and for people to skip it if they didnt want to read it.. But thanks anyway, people are dieing today for our country, so we can have the right to speak, and I will continue to speak, if they dont like that, they can SKIP my post!!!!!!

Comment by Iren at March 9, 2005 08:20 PM | Permalink

Russ...you are something else. I appreciate your strait forwardness on the attacks that are given in this forum. I'm a little reserved, but you are just a bomb exploding with tons of great information. If I were ever stranded on an island, I would want you to be there; I would never get bored.

Many may think that all of your talk is nothing, but I am actually learning a lot from what you have to say. Even if I don't make a penny on the dinar, it was worth hearing what you had to say. I can develop into a stronger Christian simply by learning what you have to share with us.

What you mentioned above about not playing God and making your family wealthy made a lot of sense. Growing-up, my father wasn’t in to the Word much at all, and only went to Church out of habit/ tradition. To make a long story short, he lost his job, my mother left him, and he was taking care of his mother who had Alzheimer’s. This was not good; he had no job, had to change his mother’s diapers, had to file for bankruptcy because he was too prideful to take a less paying job (he was an electrical engineer) and had a mortgage that he could not pay for. Eventually, his mother died and he was evicted out of his home. Naturally, he came to live with my family. We have 5 children in our family and I volunteered to take him in. As a result of all that was going on, my father realized that he needed to make it good with God. He’s Catholic, so he’s able to go to Mass everyday, and he does. He is in the word everyday, learning what the Lord intended for us all to learn. I’ll have to admit, he puts me to shame. But, as I stated way above, I wasn’t a Christian till later in my life and the journey ahead of me is a long one and I will take whatever advice or constructive criticism I can to make me a better person.

So, for me to make my father rich will probably interfere with what God has planned for him.

For those who do not, or choose not to see it will get several opportunities thru ought their life. You are but a link in the long chain of events that help others see what the Lord has to say. Where else would it come from? God wont talk to you directly. That’s why he puts the desire in our hearts to share the Gospel with all. My sharing the Gospel and letting others know how He is working in my life is actually how the Lord communicates to those who don't know him.

You can choose to listen or you can choose to ignore, but in the end, your going to wish you would have listened. It's not going to kill you to do it. We're only here on earth for a mere second, but we are in heaven for eternity.

And Russ…. if things go as planned, I would love to bring the wife and kids to Colorado to visit the Christian camp you plan on funding. Just make sure it’s on a river that’s stocked full of trout. And Michael, you keep fighting for what you believe in, I’ll be sure to pray for you, that the Lord will be able work in your life and help you with any problems that may come your way. Also, don’t worry if the dinar doesn’t come through, the best gift you can give your children is the opportunity for them to be with the Lord for all eternity, to understand what it takes to receive the GIFT OF EVERLASTING LIFE. Remember, this is not our home, it is in heaven with out Creator.

Comment by Jim at March 9, 2005 09:21 PM | Permalink

Thanks Jim.

And hey...If ANY of us ever get so calloused as to not HEAR what goes into an entry like Jim has made, and want to ONLY hear about the dinar, or cold statistics or JUST history, the shame on us for not taking the time to LISTEN.

It doesn't ALL have to be spirit linked, all talk of "eternity" or peripheral stuff SURROUNDING the dinar or our lives outside of this, BUT, if someone wants to toss out something that "deviates" a bit, why not just give an ear?

It's NOT like the thread is gonna go to pieces and turn into a blubbering, self help deal for the spiritually challenged or religious wierdos, you know.

We ALL are here for a reason common to each of us..the dinar and the pursuit of BIG MAMMA JAMMA mucho dinero gravy dough moolah bucks o RAMA, and anything ELSE that is included is just SAUCE for the GOOSE, BABY!!

Live and let live..be patient with those who can't spell or speak properly, love thy stupid neighbor (who happens to be ME, among others!) and DINAR TO THE MOON, ALICE!!

Russ

PS...today was the exception...I sold some of my art on Ebay and a quarter mil of dinar. First 100 k went for 91 plus 3.95 shipping..I paid 78 for em on Ebay 2 weeks ago, and the second 100 k expires in a bit under an hour, along with the 50k so I don't know about those yet....SO..I had TIME to write a TON here today, and enjoyed it.

BUT, I ain't crankin out that much juice on a REGULAR basis...just don't have the time. But it's been a GAS so far!

Later, you Bean-eatin, monkey haired, blubbery mass of dilapidated dill pickle chunkin, egg hurling, skunk sniffin riff raff and assorted examples of text book dementia ridden, booger heads!

I love every ONE of ya!

Russ

Comment by Russ Reimer at March 9, 2005 09:47 PM | Permalink

Michael!
If ya don't mind me asking, what part of Alabama do you live in? I have a home on wilson lake in Muscle Shoals, Alabama. It is 60 miles west of Huntsville.

Comment by Carl at March 9, 2005 10:19 PM | Permalink

Michael
Just read your post about you thinking there might be tension on this board.
I believe you have the wrong impression. The debate gets spirited sometimes,and members become passionate about what they believe, like or dislike. It is my impression, this board has some very deep thinkers,individuals who have strong personalities,and do research in an effort to contribute to the group knowledge.
One thing you cannot say about this group is they are boring.
Now! If someone whats to get my goat,and I believe other members hackles up, just start using abusive language, and attacking a member of our group personally. I believe this group will accept anyone who wants to contribute, just be respectful in your post, and you will be treated with respect.Act any different, and you will see an immediate reaction to your disrespect. I wouldn't have it any other way.

Comment by Carl at March 9, 2005 10:58 PM | Permalink

HELLO ALL
IT IS A GREAT THING THAT WE CAN ALL TALK ABOUT WHAT WE WANT AND STILL BE FRIENDS. HEY TERRANCE THAT TRIP TO HAWAII MAY NOT BE TO FAR OFF. EVERDAY THAT GOES BY IS ONE DAY CLOSER. LETS ALL GO TOGETHER AND FINALY MEET AND FELLOWSHIP ON THE ISLANDS. LOTS OF LUCK TO ALL RON

Comment by RON at March 9, 2005 11:26 PM | Permalink

I have read every post that has been made since November04 and I posted on 12 Dec 04 that I was impressed with the intellect that was being espoused on this site. I am now taking a reverse position that we are being innundated with bull-crap that has nothing to do with the dinar. Every now and then someone puts something on that is factual and indicates that they have done some research which will benefit us all in our quest to gain from the dinar. Please, lets stick to that type of post rather than volumes of BS that contributes nothing to our objective. I contribute nothing but I do keep my mouth shut and enjoy emmincely those who have done research.
Please continue telling us anything that will contribute to a better understanding of what we can expect from the dinar in the future. I will continue to read everything that is posted even if some of it is irrevelevent.
B0B

Comment by BOB at March 9, 2005 11:44 PM | Permalink

Bob!
Glad to know you were in the building. Say something occassionally so we can acknowledge ya and at least say good morning, good day or good night.
Even BS has substance. Ya just have to dig a little deeper with a stick to find the good stuff.

Comment by Carl at March 10, 2005 03:31 AM | Permalink

Well, BOB

Things may get a little heated for you real soon, since you chose to not keep your mouth shut and you still contribute nothing.

Really, I must say that your post is absolutely worthless, in that several people (including myself at one point) made note of the religious nature of many of the posts, but the argument against the posting of religious material has been weak at best or completely without substance, as is the case with your post. While at the same time, those who have contributed religious material have all contributed substantively to the board, and have defended their posts with sound logic and reasoning.

What makes your post even worse is that you seem to have NOT read the comments similar to yours, nor did you actually read the rebuttals. You dismissed it as BS because you prejudged it as having nothing valuable for you. Then you open your mouth and reveal your ignorance.

Here's some advice from me: If you don't want religious posts, then put up some real argument against it besides just calling it BS. Why is it BS, anyway? Start with that, and then maybe you'll get someone to take you seriously.


Now that I've gotten that out of the way...

Russ et. al., I have felt for some time that we are seeing some things come to pass that would appear to signal that we are nearing the end of this age and approaching the new millenium. Especially with the reestablishment of Israel, and now with the possibility of the rebuilding of Babylon.

My caution is that all the saints have sat in waiting for the return of the Messiah, and each generation has had people like you who have outspokenly declared that certain things will come to pass, and yet they died without seeing it. Of course this does not nullify their faith, nor does it testify against it. But it is possible, and you must concede, that Babylon might not rise at this point in history. It may be another 50, 100, 500 years. I don't think it will be, but it is possible.

Think about it. The disciples themselves thought they would see the return of Jesus before they died.

This is why I take your comments with a grain of salt. We can only make educated speculation on the future, particularly in regard to timing of events on earth. The only sure thing is Jesus' sacrifice on our behalf, securing a future home for those who accept Him. Beyond that, we have no guarantees, and I believe we must acknowledge that.

Thus we must wield knowledge with humility before God. To act on faith is one thing. To expect God to act on our faith is quite another. God is in the business of redemption, not wealth-making. I'm not saying that God won't allow me or you to be wealthy, I just don't think it's that high on His priority list. Our HEARTS hold THAT position.

So...will Babylon rise in the next few years and become the city she has been prophesied to become? I DON"T KNOW. But I am willing act on the possibility, as informed by faith and reason, both of which could be faulty. Fortunately for many of us, we know the author of our faith, and there is no uncertainty there.

David

Comment by David at March 10, 2005 04:23 AM | Permalink

David:
You know what they say about assume. Bob mentioned BS, he didn't say what kind of BS. So assuming the subject/articles of another's post without fact,or using a "SWAG" causes the reader to place their "own label" on a subject or articles, they themselves may thank is BS. The "Subject/Articles labeled by the reader may, or may not have been the target of the writer's post. Therefore, the reader in his or hers mistaken assumation has now become the identifier and labeler of BS,not the writer.
I can't believe you fell into that hole. Blind Zeal! unbridled Zeal! Thick Zeal! Ole how it fogs the mind!
You're smarter than that...
Keep smiling....

Comment by Carl at March 10, 2005 07:48 AM | Permalink

WHICH WAY IS THE SHIP HEADING OR IS THIS SUCKER GONA FLOAT?
Before I get started on this little read, you must first understand the purpose of it. Human beings are influenced by many factors in life, and those factors create the person as they become adults.Just for clarification: education, social cultures,government structure, family, friends, religion, etc. These listed are not in their order of importance.
These influences are strong indicators of how a person or group with the same Ideology thinks. Remember! in earlier post, I stated, all things are created by three tools. Thoughts, Words, and Actions or Deeds. Some say all things are created twice. First in Thought, then the second time in either words or actions.
Words are greater than any explosives ever thought about being. Words can create a religion,ideologies of diverse groups, or launch wars.
So it is going to be paramount that we as "dinar investors" pay close attention to what is being "said" by the individuals who have either been elected or appointed to fill the seat of the "New" Iraq or as some on this board would refer to as the "New Babylon".
INTERUPTION!! OF THOUGHT(If any of you are wondering why russ has been asking about Kuwait or Saudi currency it is because history has the tendancy to repeat itself. Plus it is pragmatic to dimise that Iraq may use those adjoining countries as a model to conform their own currency and valuation procedures.. By looking at what Kuwait and Sauda Arabia have done,(taking the facts their infrastructures were and are different) may give us a road map into where the dinar is going in the future. As I have stated, in many post,nothing remains the same, new postions are developing every day, creating new challenges to Iraq's leaders, and we may be looking at the wrong map, but at least we are looking at something instead of using a southern "SWAG") NOW ON WITH THE READ..
So everyone is on the same page let me give you my difinition of some words that are going to be used in the post, then they will not be misinterpreted by you the reader.
Ideology - It is simply a collection of ideas, a comprehensive vision, or a certain way of looking at things. It can also be a set of ideas proposed by a dominant class of society toward all members of its society or boundries of control. ie; taliban,Islamic,Christian,Zoroastrinism,republican, democrat,communist,liberalism, fundalmentalistic, conservative, nazism, monarchism ,fascism, etc;; get the logic?
"PUBLIC OPINION"
Every society has an ideology that forms the basis of the "Public Opinion" or some say "common sense".It is a unseen force but yet a force that will rear its head if another conflicting opinion is raised in its boundries. Example: Some Islamic regions will not allow Christian material to be distributed. Go into a Christian church and start quoting the virtuals of the Koran and see what kind of reaction you get. The dominant idealogy always appears "neutral" and the conflicting one as "radical" or labeled as an "Occult".
Organizations that strive for power or dominant influence use this idealogy to develop society as they "think" it should be.(U.S. creating democracy in Iraq)(Christians or Muslems trying to convert each other to their own Idealogy( Hitler attempting to create the German race as the dominant race on earth)
Organizations try to influence people by broadcasting their opinion as the dominant one. The right one, the only way, the true path, the enlighten one, the chosen people, the perfect idealogy to represent whatever they want to get across to the masses and indoctrinate. It has always been that way since time. The basics are the same whether it be in government, clans, tribes,families or faiths.It will always be that way. That is how the world has been interacting with each other since recorded history, so don't expect the new developments in Iraq or the formation of the Iraqi government to be any different. It is just history repeating itself.That is why so many people in a certain dominant society or region seem to think alike. It is the "BluePrint" of how that society is going to work. It is the blueprint as to how those leaders are going to allocate power,distribute freedom to the masses, develop laws, and in general to what ends those idealogies should be used in that society. Example:
Would you have picked Al-Sdar as one of the most popular fiqures in Shia regions of Iraq? Or hung a picture of him in every room of your house? This sucker is a murderer of his own clergy. He as beheaded people in his mosque, under the banner of "faith", Yet he is the second most popular person in Shia Territory, over and above the selected prime minister.You see ideology is in part due to the influence of moral entrepreneurs, who sometimes act in their own interest. When you get political leaders and moral leaders given the same power, you have got one powerful ideology without any real major checks and balances. That is one reason our fore fathers were so concern when they created the U.S.Constitution. They had just come from a country that required you to belong to the "Church of England or Catholic Church" To not do so carried with it a whole bag of trouble.
What you about to see is a government that is going to have their constitution written with a strong "SHIA ISLAMIC INTERPRETATION OF LAW" Why do I say that, because they are the dominant force. The dominant faith at this given time in history. It can be no other way, human nature predicts it, not I. That is one reason why when russ writes something about an historical event in a certain area. Pay attention!!!! It is fact not babble!!! All the other "stuff" you can accept or reject, you are all adults and have the freedom to choose or reject. I don't believe I have read anywhere, in any post, that any writer stated it was a "must" for you to believe or disbelieve their thoughts, made visible on this board.
Next Posting is "Just what is the Shia Faith and how do they really think?" You need to know, because don't ya feel someone's hand creeping into your pocket?
You just don't know if they are filling the pocket or taking the coins out,and heaven forbid it may be michael jackson. Ya better pay attention!!!!!
Give some one a smile today. Its a great gift, and cost you nothing.


Comment by Carl at March 10, 2005 09:39 AM | Permalink

This was posted on the Investors Iraq forum last night. We need to figure out what it means. Any help would be appreciated. Carl, John, anybody else.
Ed

Yesterday, 09:53 PM
LT Thomas USMC
Member Join Date: Mar 2005
Posts: 2

New Dinar Bills issue 3/31/05

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

Hi everyone i am passing along a message i was told to add to the morning POD (plan of the day) Note: to all personal the new Iraq Dinar Notes will be issued starting march 31 ,05 Be sure to go to the dispersing clerk to make the change . Note it Is against the UCMJ and Iraq laws to mail any of the new note home. we know many of you have sent it home to you family's. Any non Iraqi citizens will be limited to a 50000 Dinar Exchange All exchanges here or in any banks will require you ID as you will be put into a data base so remember you are limited to 50,000.00 exchange . If you have more than this you must spend it or donate it to a local charity. it will not be allowed to leave Iraq. there was more but it was where to go ... i don't know how to get around the 50k limit.

LT Thomas USMC

Comment by Ed at March 10, 2005 10:35 AM | Permalink

Carl,

I think it was safe for David to assume Bob was making reference to the religious postings when you consider the context. For Bob or anyone to state that what some individuals (I'm assuming it's Russ) are posting is "BS", truly reveals the energy level with which they put into reading it. These comments dealt very directly with the NID. As you said, we are adults here, if those who aren't Christian's don't want to read what Russ has to say, they can simply skip his messages. But the fact is, (not BS) he is talking directly about the Dinar every time he posts. I know you know this, but can't others see it?

David:

Your comment about prophecy is well taken. I mentioned this to Russ yesterday. Those of us who are Christians who have invested in the NID, hopefully have done it while considering more variables than prophecy.

Comment by Dave A at March 10, 2005 10:36 AM | Permalink

My bust guys turned out be a hoax. Guess I'm just getting a little jumpy about these dinars.

Comment by Ed at March 10, 2005 10:40 AM | Permalink

Someone smarter than me is going to have to tell me what Ed's post means for all of us.

Comment by Dave A at March 10, 2005 10:46 AM | Permalink

Ed!
The interpretation depends on the reader or listener.
Example: Rap sounds like music to many. I have another name for it, as it doesn't appeal to me.
Some individuals shut down when they hear or see the word "God", and can't seem to get past that to decepher the knowledge in a article. Russ, Dave,Terrance and others are passionate about what they believe. You can't fault a person for being who they are, for how a person thinks comes forth in words,actions, and creates the image of the soul. At least what you read with them is who they are. They make no bones or apology for it, neither should they. Personally, I have no problem with that, I accept them as the souls they are and find no threat in their post, only good intentions.
To hide and conceal who you are is betrayal. Betrayal of another is one thing, betrayal of yourself in expressing who you are is another type of betrayal, that you have to deal with everyday in the mirror.
Tell someone you love them today, it will bring a smile to their heart.

Comment by Carl at March 10, 2005 11:14 AM | Permalink

hi ed,
does your post mean that all of us who already have millions of the NID will be out of luck after 3/31/05? should we get rid of what he have now on ebay? or will we be able to get rid of after 3/31/05? any info will help, thanks tommy

Comment by tommy at March 10, 2005 11:50 AM | Permalink

Hi all, hope you all have a great day.. Carl, I live in the FortPayne area of alabama, which is the Northeast corner. It is cool that you have a home on the lake. I was hopeing myself when I cash in my dinars that I can buy a house on Weiss lake here in alabama. I would love to live there. Take care all.....

Comment by michael at March 10, 2005 11:58 AM | Permalink

tommy!
It was a hoax

Comment by Carl at March 10, 2005 12:01 PM | Permalink

Michael:
I believe you are on your way to living where ever you want to live. Angels appear in many different forms. It may be the beggar on the street allowing you to express your love for mankind,or a uncle who gave ya more than you know. He gave you the best thing of all, a part of himself without expecting anything in return,and that is priceless. The next is "hope", the ingredient that is the enrichment of life on this plane of existence. The least valuable thing he gave you was the value of the dinar. Cherish all three, but understand the order of the gift's importance,and the effect it has had and will have on your life.
Before you say or do anything today, Ask yourself "Does this represent who I really am?"
Ya may just find you change ya mind.

Comment by Carl at March 10, 2005 12:18 PM | Permalink

thanks carl, have a great day

Comment by tommy at March 10, 2005 01:47 PM | Permalink

Ed and Tommie...of course it is hoax, THIS time.

However, coincidentally, I have given a LOT of thought since yesterday as to the course of action to take WHEN a reissue is announced.

IT COULD HAPPEN, and as such represents the number one danger to anyone with only a few mil or less, where it could not be economically feasible to head for the mid east to cash in personally.

The only options IF a reissue were announced in 3 years say, would be to TRY to dump on the unsuspecting on Ebay or to head on out to change your dinars and eat the transportation cost loss.

The other option would be to just SIT on what you have and hope the time they give for exchanging old for new would be YEARS, not months like with old Saddam's garbage.

Folks on Ebay are STILL trying to pawn off that toilet paper as "souveniers" because they simply have and HAD no other option being stateside bound.

In evaluating ANY speculative vehicle, you HAVE to thoroughly examine your downside and NOT get so delusional as to believe you are gonna SCORE, and that is the end of THAT.

The number one threat to our little scheme with dinar, as I see it, is an unexpected announcement of a dinar exchange for a revalued or deflated NEW dinar.

We would then be at the mercy of those who would set up to buy on the cheap, and who also had contacts in Iraq or Kuwait they could ship to.


NONE of us could do any better UNLESS we had maybe 15 grand in it to justify spending 1200 or whatever round trip air fare to that region might be to do the exchange ourselves and even then, I have NO idea how you'd transport that much cash through customs etc.

Honestly guys...this IS a real downside for ANYONE who decides to spend 825 or so and pick up a mil and tuck it away. I would say that the chance of a dinar exchange in the next 5 years is WELL over 50% because of the potential for change there during this time...change in the economy, the "peg" that might come OR a large run up in the value of the existing dinar...an exchange adjustment MIGHT need to be made, and as evidenced by Kuwait's 5 exchanges of their own currency, this COULD be the road Iraq takes at some point.

Again...don't wanna rattle you, BUT to not consider the possibility is to wake up one morning without a game plan IF this were to occur.

This WON'T affect any of us who have thousands of bucks IN dinar, as we can and WILL find ways to either go there to exchange it, or to exchange it at our local banks IF a rate of world exchange has been set up by then, OR by shipping it to a contact in Kuwait, Iraq or wherever, for a commission. It's just the SMALL speculators with one or two mill that would be burned.

Anyway...CHEERFUL today ain't I?

Russ


Comment by Russ Reimer at March 10, 2005 01:57 PM | Permalink

Russ!
There are more ways to snatch a catfish than a pole.
I have a few ideas, that should eliminate the dinar exchange problem "if" it every comes up for us board members.For now, I "Just Ain't Going to Worry About It". I have learned to recognize the difference between the things I can control, and to the things I can't,.
Hope ya sale a million dollars today.

Comment by Carl at March 10, 2005 02:14 PM | Permalink

I'm not even worried about re-issues anymore, or curency changes. I feel the NID will follow the same path as the Kuwait dinar, it already is. If push comes to shove, my uncle still has military clearence, so he told me he will take our families dinar to iraq and exchange it himself if he has to. And he is the kind of person who would take some of your dinars and change them for you if you wanted.. So, shoot, I an't worried about it anymore... Have a good evening everyone...

Comment by Michael at March 10, 2005 04:15 PM | Permalink

Carl,
I just read your post, and as smart as you are, I know you have some excellent plans to do if this really happens.. It is ok if you want to go ahead and discuss those plans lol, no really anyone who has some good ideals, you need to post so we can all research the plan and really find which is the best to go with. I know I can depend on my uncle to bail me out if something does happen, but I would love a back-up plan if he cannot follow through.. It is true, it would be hard to get that much money back here through customs, but what me and him had planned, is if he has to go, he will open a account there in person, and just leave our dinars there until time to cash in, and then have the funds transfered electronically. I have really thought about the bank account thing that some of you guys are doing now, but for me, I just cannot send my personal info to someone I cannot meet in person.. But for all who have, I am happy for you and it is your right. I hope you prosper from it. If someone has friends or family in Iraq now, maybe you should think about sending money and open a account that way, with someone you know you can trust. I really feel this thing is going to go perfect for all of us anyway, but I still love to here all your plans and ideals to get us out of the hard spot if it happens. It would be good for all of us on this post to focus on the best plan and settle on it. We dont want to get up one morning and have this problem that has to be solved in a few days, with no answers. Let us figure this out now guys, and if we never need the plan, then wonderful... Thanks

Comment by Michael at March 10, 2005 04:49 PM | Permalink

Hey guys, its me again, I was thinking about this reissue thing, and Im no expert but wouldn't it seem that it would be bad if they did have a reissue and they made the dinar worth less. US currency is backed by bars of gold in fort nox correct, so if Iraq devalued the dinar, would that not make the government have less money?

Comment by michael at March 10, 2005 05:08 PM | Permalink

for all those worried about a reissue;

"In 2003, U.S. taxpayers paid a foreign printing company approximately $80 million to produce the new Iraqi currency," Brian Roseboro, the Treasury Department's undersecretary for domestic finance, told a House committee in September.

"In February 2004, the Iraq applied for recognition by the World Bank. They have since been under observation for monetary stability. Another currency change would epitomize instability. The Iraqi people need to have confidence in their currency if they are expected to use it instead of US dollars. They have taken well to the new dinar. If the government were to change their currency again, it would seriously undermine the trust they have cultivated in recent months and is, though not impossible, extremely unlikely. "

Not to say anything of the damage this would do to foreign investment confidence which is paramount at this stage of the game ....
be assured World bank and IMF are watching closely
and 'behind the scene' more than you know.:>)

JL

Comment by JohnLarue at March 10, 2005 06:04 PM | Permalink

Michael...US currency is called fiat money, meaning it only has value because the govt. SAYS it has value, and because it is perceived by many as HAVING value.

Most US gold is NOT in Fort Knox anyway, but in the Federal Reserve Bank in New York, AND held on other countries. The gold and silver standard of backing money went out 60 years ago and has nothing to do with our money any longer.

Just the opposite on devaluing the dinar....if you DEVALUE it, it takes MORE of them to buy something, which is why inflation, or the PRINTING of more money is such a bad thing.

While I'm on it...the Iraq dinar was NEVER "worth" 3.20 before the war. That was a figure Saddam dreamed up and he and his buddies that traded oil for food, SUPPOSEDLY, for his people were the only ones that traded that at that rate.

In fact there was NO trade of the dinar outside Iraq back then, and the REAL rate of exchange before the war, as determined by the black market and the commerce between folks with food, animals, rugs, clothing etc. to sell was between 3000 and 4000 dinar to the dollar.

It is VERY misleading of people to sell dinar on Ebay or else where saying that the rate of exchange was 3.20 before the war...it WASN'T.

Like all crazes, the dinar thing is sponsoring a lot of misinformation and flat out lying. Be informed and STAY informed and roll the dice on this one, but do not think that the dinar is "going BACK" to where it "was" because where it WAS was considerably LESS than where it is NOW at 1460 to the dollar.

If ANYTHING, the sellers should be pointing to the fact that the dinar has RISEN in value about 300% since before we invaded Iraq and took the thing away from Saddam. THAT is a reason to be happy and expectant, NOT to think the 3.20 rate ever WAS real or would ever "return" to that rate.

Fact is, since the dinar IS up over 300% in value in less than 3 years, the sky is the LIMIT in the future.

Yo hairy MAMAS!

Russ

Comment by Russ Reimer at March 10, 2005 06:07 PM | Permalink

John LaRue...Reissue is not an undermining thing in the eyes of the world bank IF the reissue is to bring a new "value" to the dinar..such as a value rise to a "peg" of say 1 US cent, which would then be maintained by the Central Bank set up like Saudi and the other Arab banking systems have done.

The figure is actually 220 million spent to do the printing of the new dinar but that is merely 2 days of oil production for Iraq and no big deal in terms of doing it AGAIN, when a peg or new dinar policy comes into the fray.

We're not talking a reissue IMMEDIATELY, but in 3-5 years. I believe that YOU have said there should be a conglomerating of the Arab currencies by then into a single exchanged currency like an Arab "Euro." so the problem of reissue IS going to come, be it sooner or later.

I am a bit troubled after computing a few things today such as the dollar value of the CURRENT dinar denominations and here they are, based on 1460 to the dollar.

The new 25 dinar coin is worth 1.7 cents close to our penny.

The 100 dinar coin is 6.8 cents in value, equal to our dime roughly.

The 50 dinar note is worth 3.4 cents, equal to our nickel roughly.

The 250 note is worth 17 cents, about what our quarter is worth.

The 1000 note is worth 68 cents or about what our half dollar is.

The 5000 note is worth 3.40 close to our 5.00 bill

The 10,000 is worth 6.80 similar to our 10.00 bill

The 25,000 is worth 17.00 like our 20.00 bill.

What I'm saying here is that they ALREADY have a nicely broken down currency that is handy for transacting daily business just like OUR money system and fairly close in denomination to EACH of our coins and bills right on up to 20.00.

For the Stability the World Bank is looking for, they HAVE a system right now that qualifies perfectly AS IT IS.

I'm not sounding like a real popular guy about now in this entry, but hey...you HAVE to look at all angles and that is what I'm doing.

If we EXPECT the dinar to fly, we HAVE to ask again and again...on what BASIS do we expect this?

If it is based on the dinar "returning" to it's 3.20 pre war value, then we are not informed as to the fact that it NEVER traded internationally or LOCALLY at that figure during the last 20 years of Saddam's rule...he printed SO much of his ugly mug faced money that it had fallen to 3000-4000 to the dollar before the war....there ISN"T a magic number it will "return" to..but it IS worth 300% more than it WAS under Saddam in the end.

So...we need to be OPEN to the idea that the 1460 that has been VERY steady for MONTHS now, MAY be steady for a LONG time.

Furthermore, the immediate popularity and crush of Pakistanis, Indians, Lebanese, Saudis etc. AND Americans that rushed in and bought IS slowing to a degree already.

IF that initial crush failed to run the price well above 1460 per, and the Iraqi banking system was able to control it and hold it where it is....I personally am wondering if they intend to CONTINUE to do so, utilizing the nicely broken down denominations that are EASY to trade in commerce in Iraq each day, JUST the way it is.

Again...IF a magical rise is coming...I challenge ALL of us to stop spitting out rehashed "wish list" numbers and wild speculation and probe the other nations of history to SEE if there is any basis beyond our wild hopes.

Hey...you've known me to push the dinar constantly...let's ALL find some NEW meat to chew on shall we?

I don't wanna HEAR any ostrich head in the sand mentality that it HAS to go up.

You SHOW me WHY it has to, and I dare you NOT to spit any of the OLD info we all have heard, sorted through and either filed or discarded along the way.

Dinar to the MOON, Alice...but you SHO better have yo head screwed on right and be able to back up WHY you know this, or we might ALL be in for a drubbing here!

Russ


Comment by Russ Reimer at March 10, 2005 06:28 PM | Permalink

I started writing this in Word at 5:30 and came back and noticed a lot more posting, so just in case your wondering, I wrote this prior to reading what is above.

Michael…. I read your discussion and everything else above and thought really hard on what I would do if I were in their (Iraqis) shoes. Keep in mind that this is just pure speculation, but I would do as they had currently done and issue the 25k, 10k, 5k, 1k, 250, and the 50 NID.

Below is what each NID was anticipated (not sure of exact rate) to be worth against the USD when first issued:

1 USD/1500 NID

25k NID = 16.66 USD
10k NID = 6.66 USD
5k NID = 3.33 USD
1k = .66 USD
250 NID = .16 USD
50 NID = .03 USD

This being said, it makes more sense to FIRST issue a larger currency while the economy is bad and the value of the NID is low. This way you won’t be carrying huge wads of money when going shopping. According to the table above, if I had 25 NID, I would much rather carry 1 - 25k NID than to carry around 25 – 1k dinar notes or 500 – 50 dinar notes. So, if I wanted to buy a loaf of bread and only had that 25k dinar note, I would expect to receive at least a 10k and a 5k dinar back as change, and maybe a couple of 1k dinar notes as well. Remember, the currency has a lot of influence from the U.S.

As time goes on the economy will get better. As it does, I think that adding a 20 NID, 10 NID, 5 NID, and a 1 NID to the Iraqi economy would make sense. As the lower denomination NIDs are issued, the higher denomination NIDs will be taken out of circulation and be used solely in the international market for payment of oil. If Canada wanted to purchase oil, they would need to obtain the USD, Euro, or Dinar to make a payment. What better way than to have higher denomination bills, such as the 25k NID and the 10k NID, to make the payment. It would be easier and safer to transport the funds. Carrying a suitcase full of cash is risky.

This will allow Iraq to not have to go through the process of having to contact all of the Iraqis to exchange their currency again and issue something different. That would take too much time and money. Besides, the new money is too pretty to just trash after a few years of use..LOL. Also, we have the world’s top advisors assisting Iraq in rebuilding their nation and economy.

One last thing, if they were to announce that they were going to issue a lower denomination currency and eventually phase out the higher denomination currency, wouldn’t you be 100% sure that this investment would succeed. If so, then everyone and anyone would sell their homes to purchase the Dinar. Since everyone is unsure, they speculate and most decide not to invest. Someone has the answer, but their not going to tell.

Comment by Jim at March 10, 2005 07:16 PM | Permalink

Russ, just wanted to let you know how much I appreciate your enthusiasm and knowledge of the Bible and many other things…you are full of knowledge. Emeril is to the Food Channel as your are to this blog…. Kick it up a notch…BAM! BAM! BAM! HOOOOYA!!!!

As for those who call some of these discussions BULLSHIT…you’re right. Bullshit is actually fertilizer, and fertilizer is a substance that adds inorganic or organic nutrients to soil for the purpose of increasing the growth of crops, trees, or other vegetation. But in this case, it helps in the spiritual growth of all who want to listen.

Keep those punches coming; we got more where that came from. : )

Comment by James at March 10, 2005 08:26 PM | Permalink

this is for the guys who write long, long, long,comments.what is going on, i thought this was a forum for simple disscussion and rumors.it seems like alot of reading.some of the comments are extremely looooooooooong.i like this post but round one never had any such comments like this one and they got thier point across.it is like telling jokes some people can tell em short and to the punch line,and others take thirty minutes and you fall asleep waiting fot the punch line,i am truly sorry if i have made anybody mad but i have a right to my opinion too.keep buyin dem dinars and good luck to all of us

Comment by brian at March 10, 2005 08:27 PM | Permalink

Jim,

You say that the 25K note will be used for oil purchases? Really? I sort of assumed they'd conduct their oil transactions like the rest of the world does, in dollars or Euros, by electronic transfer. It's not quite usual for an oil tanker to be met at the dock by a truckload of whatever the local currency is.

In Myanmarr, when the new government took over, they kept the existing currency, but demonetized some of the notes. Essentially, everyone who was holding the larger notes was left holding the bag, literally.

That said, I've got a stack of 25K notes. If they work out, they work out. If they don't I'll have lost less money than I did on CEE today.

Comment by Chuck Zero at March 10, 2005 09:31 PM | Permalink

Brian, your right, you do have a right to your opinion and we respect that. Thanks for being so reserved and not lashing out. May the power be with you and your venture to seek out what really matters in life.

Comment by James at March 10, 2005 09:32 PM | Permalink

Chuck

It was just all speculation as I mentioned above. This is just what makes sense to me and there is no fact what-so-ever in what I said above. I too had 1 mil in 25k notes, but I am getting rid of them and getting 10k.

Thanks for your response and good luck!

Comment by Jim at March 10, 2005 09:39 PM | Permalink

eh Russ where on earth do you get your figures?
sources for your data? care to share?

"The figure is actually 220 million spent to do the printing of the new dinar but that is merely 2 days of oil production for Iraq and no big deal in terms of doing it AGAIN, when a peg or new dinar policy comes into the fray."


Iraqi crude oil production as of Nov, 2004 are in the range of 2.126 million bpd with exports at 1.138 million bpd from its two southern terminals

Projected Oil sales in 2005 for Iraq are estimated at $20 billion USD.

Your figures are at 3.3 Bil month, or 39.6 Bil USD Yearly ?
It is more like 1.6 Bil monthly,20 Bil USD projected revenues

And the printing of the NID was done at the US taxpayers expense and was _$80 Million_ not
$220 Million.

The intel on this forum seems to have dried up
and much misinformation and non Iraqi dinar
info abounds

If your going to post at least get your facts and data accurate thank you :)
have a nice day- Praise Jesus- please drive thru

Comment by red at March 10, 2005 10:08 PM | Permalink

Hey Red! After 35+ pages since of Russ dedicating his valuable time in providing us with great information, you’re going to criticize him for getting a few numbers wrong. Why don’t we grade him on spelling and for making up words as well?

Give the man a break.

You may need to get your facts straight. Isn't that your post below? You forgot to put redxxx. Instead, you put xxx. Didn't want anyone to know it was you...huh!

**********************************************

The new Iraqi dinar is a temporary currency and will be withdrawn when a newly elected government takes office.

When a new elected government takes office the current Iraqi dinar will be replaced by another new iraqi dinar. That was a firm condition between the CPA and the transitional governing council of Iraq in August 2003.

http://www.funtrivia.com/playquiz.cfm?qid=167106&origin=

If you look up Bremers(CPA) address statement issue of NID in 2003 this is stated

Posted by: xxx at March 9, 2005 05:03 PM | Permalink

*************************************************

35+ pages is a fact, check it out for yourself in Word.

Anyway, red take care and remember, when you criticize, be prepared to be criticized yourself.

Comment by James at March 10, 2005 10:55 PM | Permalink

Hey! red!!
Where have ya been? Haven't seen ya post lately.
Ya just have to be a fast reader to get through some the longer post, including some of mind.
Glad to have ya back!!!

Comment by Carl at March 10, 2005 11:33 PM | Permalink

Howdy Red...by the figures YOU gave, of 2.126 million barrels a day production as of Nov 2004, TIMES the current 53.13 Thursday comex closing figure for light crude (though Iraq produces a basket of grades of course including a bunch of sulfer bearing stuff) per barrel, gives a daily gross income from oil ALONE of 112.954 million dollars.

Consequently the 220 million printing cost for the dinar, which is also accurate, can be seen to be paid for if a reissue is ever declared by two days of oil production, just as I stated.

Where did you get YOUR 80 million dollar figure? Way low, Amigo!

But nice to meet the great Red one just the same.

Russ

Comment by Russ Reimer at March 11, 2005 12:13 AM | Permalink

Forgot to say thanks James, and Howdy Do, too.

Brian..your entry was WAY too long and had nothing to say or contribute towards our discussion of the dinar.

Try to be more brief AND include something with ANY kind of meat on it for us to digest.

And while you are at it...smoke fewer jelly beans, eat more banana tacos and twirl your golden hair by the light of the silvery moon while strumming a goat milk dipped ukelele to the beat of an old Dean Martin album set to play at 78 rpms for good effect.

Remember to never pull a roosters carburator or digest umbrella bungee retainers while propelling your drizzlesnort up a ladder in excess of 3 meters high.

This COULD cause a dinar shortage on outer Mongolia and bring the dancing pygmies of Bulgaria upon thy insipidly sparse toupee, banging slender cylindrical pepper pots of tightly wound flabby flootyfish fibers against the rather profuse grouping of nose hairs that surround your immense girdle.

Take two asperine and call me in the morning and I will send you a TRUE report on why the dinar is worth at least a corvette PER thousand, and why a fil won't fill you up any more than an egg roll in a tire factory!

Three cents doth not a C-note make and three camels are worth more than two 25 dinar coins, IF they are properly saddled with gold and old rookie cards of Pete Rose in his famous flaming tu tu.

Red...you just are not a serious fellow are you? You have WAY too much jockularity...too much mirth and glee for any of us to stomach...you make us retch and groan with unending agony of tapeworm inspired nightmares of laughing and torpedo bombs of useless joke telling.

Even the COLOR Red, doth long for the shades of BLUE that would disassociate itself from thy plump roundness...thy uncouth belligerance and tyrrany...thy rotting smell of warmed pomegranate mash with Puppy Chow and anchovies.

I LOATHE you RED...I spit upon thy youthful folly and purplish hue...I STRIKE down the name of RED from my memory forever and for as long as half that time, will sing out of tune choruses of ancient sea men past, lamenting the day of your BIRTH.

Red...you are a DEMOCRAT!!!!!!!!!!!!!!!!!!!!

Russ hath spoken

Comment by Russ Reimer at March 11, 2005 12:28 AM | Permalink

Russ-

"In 2003, U.S. taxpayers paid a foreign printing
company approximately $80 million to produce the new Iraqi currency," Brian Roseboro, the Treasury Department's undersecretary for domestic finance, told a House committee in September."

source;
http://washingtontimes.com/business/20041213-123022-3174r.htm

got a source for your "accurate data"??
again;
Projected Oil sales in 2005 for Iraq are estimated at _$20 billion USD._
thats 0.055 daily or 1.6 bil monthly
your figures are doubled that

Comment by red at March 11, 2005 01:00 AM | Permalink

David:
Your comments were harsh but I am sure that you meant them in a constructive manner. I have done no research and have very little knowledge of what is going on in Iraq, but I do have a philosophy that I am relying upon in order to believe that my investment is sound. Iraq in sitting upon billions of oil and has control of 90% of the water in the region and has the potential of becoming a powerful economic empire
and inevitabily will have a dinar worth considerably more than it is today. To call someone ignorant because you disagree with them is a little harsh. You should be bigger than that David.

Comment by Bobby Floyd at March 11, 2005 01:14 AM | Permalink

Sitting on NID's?
Remember the Snickers commercial?
"Not going anywhere for while? ...."

More good news from Dubya's Viet-Nam!

All the latest hot scoops!

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

You go girl!


At least 47 die in Iraq bombing attack as Shiites, Kurds seal political deal
A suicide bomber blew himself up inside a Shiite mosque in the northern city of Mosul on Thursday, killing at least 47 people, hospital officials said.

Iraq: 35 bodies found as four killed in attacks
Iraqi officials said Wednesday that 35 bodies - some bullet-riddled, others beheaded - have been found at two separate locations and they believe some of the corpses are Iraqi soldiers, who were kidnapped and executed.

Interior ministry official assassinated in Baghdad as abducted Jordanian freed; Ramadi clashes kill at least two Iraqis
A top policeman who worked in the Iraqi interior ministry's immigration department in Baghdad, was shot dead in a drive-by shooting Tuesday, according to ministry sources.

Comment by ForestGump at March 11, 2005 05:06 AM | Permalink

ForestGump:
Its good to see ya at least contributing something!
Flash! Just in case ya haven't heard. There is war going on in Iraq. People die in war. That is just what they do, it is a occupational hazard.I really don't believe anyone is really stunned over the news in your post.
I'm like the ship owners of old, forest. "Captain! I really don't want to hear about how many men you lost, how mean the sea dragons were, How high the waves were, or how many men got food poisoning. I want to know one thing."
"IS MY SHIP SITTING AT THE DOCK WITH CARGO TO SALE?" "OTHERWORDS CAPTAIN, HAS MY SHIP COME IN?"
Forest, to use your line...
IRAQ IS LIKE A BOX OF "C H O C O L A T E S" ya never know what your gonna get!!!
Take ya medicine now! You let us adults handle everything. Look forest! here are some paper cutouts for ya. Behave now! leave the nurses alone.

Comment by Carl at March 11, 2005 07:05 AM | Permalink

Things seem to be getting nasty. I think all the talk about the currency re-issue senerio this week has put some of us on edge. I appreciate all points of view, and information on Iraq, and the dinar, pro and con. But it seems some things are getting personal?

Comment by buck at March 11, 2005 07:55 AM | Permalink

hi everyone remember APRIL 1st is april fools day and some may post april fools rumors just to get everyone
in a turmoil

Comment by brian at March 11, 2005 08:01 AM | Permalink

Buck!
The currency re-issue in my opinion is a non-issue.It fills the mind with things that may or may not happen,over things we as dinar investors have no control over.
If and I mean "If" this issue is in the wind, then steps can be taken.Otherwise, ya don't make plans to cross a bridge in California, when ya sitting in Maine. Too many other bridges to cross before ya get there, and it may be a different bridge when ya get there.
When someone post with a boqus name, a xxxx, etc..that individual is betraying themselves as to who they are as a person. This indicates either they do not wish to own up to their thoughts or they are ashamed of what they are about to write.
Either way if they, themselves do not give credit to their words, why should their post be given the respect they themselves discredit?
Some of the post I read, I don't agree with the content.But I have never said, I didn't find some value in them.
I am sure we all have written things on the post one time or another, that others did not agree with. This is a "Free For All" board. Sometimes, the verbal wrestling pushes the limit, and occassionally goes over the ropes.But as long as it is done with respect toward other members,no abusive language, profanity, and stays within this boards context of what is happening in the middle east, all of its past, present or future influences, currency, and iraqi dinar it is within bounds.
Remember, the universe dictates whatever you give out, you will get back. That is a fact. I believe in the christian faith, it is "whatever you sow, you will reap" something like that. In the eastern faiths, it is called "Karma"
Hey! guys! did I cover all the bases, by being politically correct. Didn't want to leave anyone out.
Tell someone today how important they are to your life. It cost you nothing, and is a priceless gift.

Comment by Carl at March 11, 2005 08:29 AM | Permalink

Brian:
Are you located in Tenn. Sort of like just above Chattanooga.

Comment by Carl at March 11, 2005 08:32 AM | Permalink

Buck, hang in there, just keep rolling with the punches; Carl really does mean good.

And Carl, you are a 100% correct in saying what you said. You weren't too harsh, but to the point. Thats what I admire about you.

Comment by James at March 11, 2005 08:53 AM | Permalink

Red,

I'll have to FIND the currency investment newsletter that quoted the 220 mil, however, the 20 billion annual figure you keep quoting for Iraq's oil production is in direct conflict with the OTHER figure you keep quoting, which is the 2.126 million barrels a day (higher now than in November because of repaired facilities, pumping locations and lines) YOU have quoted.

The MATH is that multiplying 53.50 a barrel TIMES the daily production rate of 2.126 million MINIMUM DOES IN FACT give you well in excess of 110 million bucks a day total production capacity at this time.

But I don't ALWAYS have to be right....just on whether the dollar makes me millions, eh?

Russ

Comment by Russ Reimer at March 11, 2005 09:20 AM | Permalink

Iraq Oil Revenue June 2003-Feb 28th 2005

page 22 -
http://www.brookings.edu/dybdocroot/fp/saban/iraq/index.pdf

OIL REVENUE 366
Time Oil revenue (billions)
June 2003 $0.2
July $0.36
August $0.44
September $0.73
October $0.89
November $1.21
December $1.26
January 2004 $1.26
February $1.10
March $1.61
April $1.50
May $1.36
June $1.28
July $1.40
August $1.24
September $1.75
October $1.99
November $1.25
December $1.44
January 2005 $1.41
February $1.32

Total as of
February 28, 2005
$24.82

Comment by JohnLarue at March 11, 2005 10:26 AM | Permalink

Carl - Please don't think I was referring to you specificly, just the recent mood of things on the board. I very much appreciate of your posts, as well 99% of the other people. I have learned a lot through this forum, and hope to learn a lot more. I also agree it would be a great day to tell someone special in your life how much they mean to you, stop and smell the roses so to speak. Everyone have a great weekend, I will keep my eye on those plane ticket prices to Hawaii! Go Dinar!

Comment by buck at March 11, 2005 01:12 PM | Permalink

Buck!
No offense taken. I know what post you were referring too. Some allow their keyboard fingers to kick in without putting their brains in gear. Unbridled emotions sometimes causes a person to write things that afterward really does not represent who they really are.
What everyone sees are your thoughts brought to life on the screen, the readers then get an image of your inner soul.
Disrespectful words, only brings disrespect to the writer.

Comment by Carl at March 11, 2005 01:27 PM | Permalink

Buck:
You only appreciate 99% of the post here? What about the other 1%? LOL just kidding dude...

Comment by Michael at March 11, 2005 03:43 PM | Permalink

So John...somebody's lyin about the official figures.

If Iraq IS producing 2 million barrels plus a day and oil is a bit over 52 per barrel basket, that comes to 100 mil a day, 3 bill a month.

Who do we believe?

Is Iraq selling 1.3 billion a month and USING the other 1.7 plus billion?

You tell ME where it's goin.

IF the 2 million barrels a day figure is correct, and it IS more than that according to ever news release and opec figure that comes out, it is impossible that the total VALUE of oil Iraq is producing at current world prices could be LESS than 100 million a day.

Let's hear it...something is screw with SOMEONE'S figures.

Russ

Comment by Russ Reimer at March 11, 2005 04:06 PM | Permalink

Buck,

Just watch the price of the dinar, forget about watching the price of airline tickets to Hawaii -those are all on me brother....

Hey, how does the Hyatt Regency in Kaanapali sound to everyone? It's on Maui, right on the south eastern corner of the island. Believe it or not there are penguins roaming around in the lobby of the resort. It's right on the beach in front of the aqua blue water, and it has fantastic amenities......if anyone objects to that venue, let me know.

Have a great weekend...I'm going to have a great one - the waves are pumping in SoCal this weekend...late.

T-

Comment by Terrance at March 11, 2005 04:53 PM | Permalink

Not going anywhere for a while?

Iraq: Three dead in attacks as death toll of Mosul bombing on the rise
Two Iraqi soldiers were killed Friday and three wounded during clashes with gunmen on the road between Babil and Diwaniyah, south of the capital, Iraqi army Maj. Hassan Ali said.

the NID .... put ALL your clients in it. Blue Horseshoe *loves* the NID!

Comment by ForestGump at March 12, 2005 05:49 AM | Permalink

Well! Good Morning!
Gump:
I see ya are up yourself.

Comment by Carl at March 12, 2005 06:24 AM | Permalink

Hey Forrest.......RUN FORREST>>>>>RUN!!!!!!

You aren't allowing yerself to be suckered in by the stupid MEDIA are you?

We had more than THAN killed last night in the south side of DALLAS, and HUNDREDS more all across this nation.

The media is absolutely run by the dark forces of Satan.

Don't believe me?

I dare you to turn on ANY news channel ANY time of day or night and NOT find them reportinging on THIS person raped, this one murdered, this one molested, this one maimed, etc. etc.

It is the ONLY subject and subjects they will report except a "human interest story" every ONCE in a while to break up the grimness of their sordid thinking.

All who WATCH this nonsense on a daily basis are AS guilty of the darkness they fodder and promote as the idiots who make their living REPORTING it all day every day.

I've turned off my TV as far as news goes and won't watch any longer...they simply change the names, but the STORIES never vary day to day, so why fill your mind with that garbage?

I scan the internet news or papers reading ONLY the items that have to do with consructive world events or stories that uplift and CREATE, not destruct a conducive, positive state of mind.

Have you noticed that ALL new shows called "drama" are the same? MURDER or investigating murder, or sifting through EVIDENCE of murder are ALL these morons can think of.

There is a glorification of death and dying everywhere you turn and THIS is the goal of the enemy..the spirit of darkness...to get folks like Gump to DWELL on the darkness...to brood and lament and worry and put off SOUND business ideas like buying into the dinar etc. for FEAR, of which he is the author, of losing or getting hurt.

The media are fear mongerers, creating and instilling it, and the Bible says that God is NOT the author of fear...so I have nothing but contempt for the media and their perverted bias, their anti God/pro homosexual slant and agenda, and URGE each of you to reevaluate the things you are filling your minds with.

Before you accuse me of being desirous of living in some "unreal" happy little world never wanting to hear bad...let me tell you that murder, rape, incest, child porn are NOT part of my real world.

The don't surround me, I don't face them daily, they don't haunt my relatives or friends and have no place in my life. The problems I DO have are prayed over, addressed and either solved or put in their proper perspective.

I DON'T watch a minutes worth of the "news" about OTHER people's challenges, the ends of their lives in whatever horrible form it takes or the other junk that fills the airwaves...it is NOT real..not to me, not to MOST of us MOST of the time, though the news media TRIES to get us so involved in their totally biases reporting of this mayhem that we DO make stupid mistakes like distorting the 3 deaths in Iraq you mentioned into some BIG DEAL in our puny little minds, so we DON'T do constructive things like shooting for the moon in dinar.

Gump...you have bought the enemy's hogwash and are spreading it around. You are deceived, negative and unproductive in your limited view of reality.

You get me the figures for the dead in the US that same day, or just in a similar sized state as Iraq like Texas, and you'll find that WE had 50 PLUS such deaths on the same day, MANY more rapes, thefts, acts of violence, traffic injuries etc.

Don't let these idiots FOOL you any longer with their sensationalistic "reporting" and DON'T use this as an excuse to "warn" us of any reticence on YOUR part to become an investor/speculator in Iraq.

Yours is a VERY poor argument as ANY longterm profits of any magnatude ALWAYS involve investing at a time when NONE of the other people with blinders on to the FUTURE can bring themselves to part with a CENT to even TRY, because of their fear and extremely limited view of the overall picture.

Have a nice day, Amigo, but change you USER name will ya? Tom Hanks would CRINGE at the anti-Forrest Gump mindset you seem to possess! Forrest was POSITIVE, a DOER, a PRAGMATIST...and an ENTREPRENEUR as seen in the Bubba Gump Shrimp Company, and the ping pong paddle endorsement deal.

He may have run his BOAT into the dock but he HAD a boat anyway AND was TRYING.

Yo Big Fat MAMA!

Russ

Comment by Russ Reimer at March 12, 2005 10:10 AM | Permalink

Russ!
I sure wish you would say what ya think sometime.
Keep smiling

Comment by Carl at March 12, 2005 01:07 PM | Permalink

Georgia: three Officers killed, one Judge and a county clerk as a convicted rapist shoots his way out of a county courthouse, car jacks a media van and gets away.. come on Gump.. Iraq pales in comparison to our own issues here in the States..

The Dinar will rise and you need to find the "Haters" blog..

Later...

Comment by Ian at March 12, 2005 01:20 PM | Permalink

Yeah russ, why don't you tell us how you really feel!
:)

Blue Horseshoe *loves* the NID!

Comment by ForestGump at March 12, 2005 02:57 PM | Permalink

back to the dinar. there are alot of rumors about them changeing the dinar. and also sevral about it being illegal to have the dinar hard curancey please anser.i was told a while back there was a order buy the president it was legal to invest in iraq.

Comment by cory at March 12, 2005 07:48 PM | Permalink

How, or does, the new Iraqi goverment rejecting the option of becoming an islamic state effect us, as dinar investor's?

Comment by Silverado at March 12, 2005 08:18 PM | Permalink

I just received some dinar from someone stationed in Kuwait. They mailed it to me through the post office there on the base. He insured the package and on the contents section he wrote that it contained 1 million Iraqi Dinar. I have been over there and I know how watchful the base post offices can be. They will make you show what is in the package so they can inspect it to make sure that you are not mailing anything illegal. So, apparently as far as the U.S. postal system is concerned, it's not illegal. And by the way, who would say it is illegal? Iraq? What are they going to do? You commited no crime in their country. The United Nations doesn't care what currency law Iraq has and apparently neither does the U.S. government.
Carl! I grew up in Alabama. I was on the Northeast side of birmingham. So do you say Roll Tide or War Eagle? Man I wish I was there with you. I haven't seen Spring in the Heart of Dixie for far too long. Hey Terrence, your last post sounded great. I was there in my mind. Can I be added to your list? I know you guys haven't heard much from me but I have been here with you!

Comment by Chris at March 12, 2005 09:00 PM | Permalink

theres just been alot of scary rumors on that iif form lately. i felt good about my investment but seam the more i read over there i seems to put neg spin on things. except buying from amer. they also push that bank what would happen if it got blew up they would al lose too. i started out feeling this was risky but good and now begining to think is all a big scam please give me some positive info and thoughts.

Comment by cory at March 12, 2005 09:17 PM | Permalink

Presidential Order 13303: Allows US Citizens to invest in the New Iraq . Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen.

Hope this helps. :)

Comment by Jim at March 12, 2005 09:39 PM | Permalink

News 7 in San Fransisco even did a story on it.


http://abclocal.go.com/kgo/news/7oys/030905_7oys_dinars.html

Comment by Jim at March 12, 2005 09:49 PM | Permalink

Cory:
Dont worry, they are just rumers.. This investment is going to make you a wealthy person.. Just look at this way, You bought a lottery ticket, which costed more money than usual of course, But the fun part is the ticket is good for yrs and yrs.. And it is even more fun checking every day here and cnn, to see if you have won. Just sit back and enjoy the ride!!!!

Chris, which part of Northeast Alabama did you grow up in? City? You sure missed a beautiful day today, It was around 75 here in fort payne.. I forgot about the dinars and enjoyed the sunshine... Take care all!!!!

Comment by Michael at March 12, 2005 11:07 PM | Permalink

Chris:
You must have lived in center point or close.
I lived in Helena for 22 years and served with Sheriff Dept, Polygraph and Interrogation Specialist, assigned to Homicide Div.
I served my time in Law Enforcement,then moved back home to Muscle Shoals, in North Ala.
As you know the South, has a special aura in the spring, but then again all the seasons here have something special.
Your location now is? Neither! I am a rarity in Alabama, I do not keep up with football. Life has too many advertures to experience to waste my time on football.

Comment by Carl at March 12, 2005 11:18 PM | Permalink

thank you all for the good news. and the hope. i had a strong feeling when i ran across this deal to buy. so i think all follow my gut and just kick back and watch love. all i heard on this form thanks to all

Comment by cory at March 13, 2005 12:56 AM | Permalink

Since carl has law enforcement experience - he should investigate the death of the NID investment! .... hehehe just kidding. The NID is like a box of chocolates, you never actually know what you're getting into.....

Comment by Forest Gump at March 13, 2005 06:48 AM | Permalink


Repost from the NID forum:


A LOT OF PEOPLE TEND TO THINK THAT THE DINAR WILL BE AROUND FOR A LONG TIME. THEY DON’T UNDERSTAND THAT IT IS A “TRANSITIONAL CURRENCY”. PEOPLE SAY “WELL THEY NEED TO KEEP IT THE WAY IT IS SO THAT IT WILL BE CREDIBLE AND FORIEGN INSTITUTIONS WILL WANT TO BUSINESS WITH THEM” OR “IT WOULD COST TOO MUCH TO INTRODUCE NEW NOTES” AND SO ON…. I CALL THIS “ DINAR DENIAL”.
TO VENTURE DEEPER INTO WHAT EXACTLY I’M TALKING ABOUT LET US REWINDE BACK TO JULY 7, 2003. WHERE BREMER FORESHADOWED WHAT WILL COME OF THE CURRENCY….BREMER ANNOUNCES IRAQ'S 2003 NATIONAL
BUDGET, CURRENCY CHANGES
Date: July 7, 2003
The administrator for the Coalition Provisional Authority in Iraq, Paul Bremer, outlined in an address to the Iraqi people July 7 the key spending priorities for the Iraqi national budget over the next six months. These include commitments to improve the water, electrical, public health and telecommunications systems.
"For the first time in 12 years, all of Iraq will again use one set of banknotes," he said, signaling greater economic efficiencies.
Following are the complete text of Ambassador Bremer's July 7 announcements related to the Iraqi economy, answers to frequently asked questions about the new Iraqi currency, and a fact sheet:
Mesaa al khair [Good evening].
I am Paul Bremer, Administrator for the Coalition Provisional Authority.
My number one priority remains, as always, security: providing the security which Iraq needs in order to rebuild. Those who reject progress in Iraq know that they are losing. They are now targeting you and the basic services like water and electricity which you need. If you have information about these renegades, you should tell a coalition military or civilian person. We have already hit them hard. And we will defeat them.
Our second priority is to get the economy going again so that we can create jobs for you. Here , I have a couple of important announcements on the economy.
We have not designed a new currency for Iraq. Only a sovereign Iraqi government could take that decision. So we have taken the designs from the former national dinar (the "Swiss" dinar). But the new notes will be impossible to confuse with the "Swiss" dinar, as both the colors and the denominations will be different. Let me show you an example [show slide]. The new dinars will be printed in a full range of denominations: in 50s; 250s; 1,000s; 5,000s; 10,000s; and 25,000s. They will be higher quality and last longer. They will be very hard to forge, and thus be notes in which all Iraqis can be confident.

Together, these two new developments underline that the coalition, working closely with Iraqis at all levels, is determined to improve the economy of this country, and the lives of all its citizens.
Shakran [Thank you].
On July 7, 2003, the Coalition Provisional Authority released the following responses to frequently asked questions regarding the transition to a new Iraqi banknote:
THE NEW IRAQI BANKNOTES -- QUESTIONS AND ANSWERS
What's happening?
New Iraqi banknotes will be introduced on October 15. The normal Iraqi dinars ("print dinars") in circulation in most of Iraq, and the former national dinars ("Swiss dinars") in circulation in parts of Northern Iraq, will be exchanged for this "new Iraqi Dinar".
When is this happening?
The new notes will be ready on October 15.
What happens between now and then?
Nothing. You should continue to use existing banknotes. They continue to have the same value and the same validity. From October 15 until the exchange period ends on January 15, you can use either the current or the new banknotes.
Should I change all my money now into another currency?
No. Your normal Iraqi ("print") dinars will be exchanged directly into new Iraqi dinars at a rate of one to one. Former national ("Swiss") dinars in use in parts of Northern Iraq will be exchanged at a rate of 150 new dinars to one "Swiss" dinar. We are fixing these rates now so that you need not worry.
Where will I have to go to change my money?
To designated exchange points, which will include the branches of the Rafidain and Rasheed banks.
Will I have to change my money immediately after the exchange begins?
No. There will be three months to make the exchange. Throughout the exchange period, both normal ("print") dinars, former national ("Swiss") dinars, and new dinars will be accepted as legal tender.
Won't the value of Iraqi dinars drop between now and October 15, as measured against, say, the dollar?
There is no reason for this to happen. This will not be a new currency, but simply new banknotes.
How will I know when the new notes are ready?
They will be ready on October 15. Announcements will be made in a similar way to this announcement, i.e. by radio, television, newspaper, poster and leaflet.
You're already running out of Iraqi dinars. Won't there be a mad rush to get the new ones?
No. There will be no shortage of the new dinars. And they will be available in many more denominations than are in circulation now.
Why don't you just print more normal Iraqi ("print") dinars?
Because their quality is poor, they don't last. They are also hard to use because of the lack of different denominations. And it's time that the new unified Iraq had one set of banknotes, and notes without the head of Saddam Hussein.
Can I keep dollars if I want to?
Absolutely. In the new free Iraq, you can hold whatever currency you want. But the new dinar will be the official banknotes for the whole of Iraq, from Dohuk to Basra.
Is the coalition trying to take over the Iraqi economy?
Absolutely not. That is why we are introducing new banknotes, based on the original Iraqi dinar design.
Do I really need to change my notes? Won't the new Iraqi government change the design again anyway?
Yes, you should change all your current dinars when the time comes. After the changeover period, the normal Iraqi ("print") dinars, and former national ("Swiss") dinars will no longer be valid. Once there have been national elections, and there is a new Iraqi Government, the new Government may introduce new notes, or a new currency. But this will be further down the line.
Do I need to withdraw all my money from the bank?
No, money held in the banks will be automatically converted for you.
Below is a fact sheet about the new Iraqi dinar that will replace aging Iraqi banknotes beginning October 2003:
FACT SHEET ABOUT NEW IRAQI BANKNOTES
In close consultation with financial experts from Iraq and the international community, a new series of Iraqi banknotes will be introduced from 15 October. These new notes will address problems like the shortage of 250-dinar notes and the poor quality of the notes in circulation.
Some key facts about these banknotes:
The new notes will unify the currency across all of Iraq. Once the exchange of notes has been completed, these notes will be the official banknotes for the entire country.
The official conversion rates will be as follows:
The new banknotes will be available from 15 October 2003.
Official exchange locations will be announced before 15 October. These will include branches of the Rasheed and Rafidain banks.
Exchange will be possible over a three-month period, from 15 October to 15 January. There is no need for people to exchange their notes as soon as the exchange begins.
People who now hold money in bank accounts will not need to withdraw this money to exchange. All bank accounts will be automatically converted to new notes at the official rate.
The new banknotes will look very similar to the former national ("Swiss") dinar notes that were used throughout Iraq until the early 1990's, and are still used in some Northern areas.
-- The new banknotes will have a number of advantages over normal Iraqi ("print") dinars:
-- They will be much better protected against counterfeiting.
-- They will be much more durable and suffer less "wear and tear."
-- They will have many more denominations, so they will be much more convenient for people to use.
The new currency will be fully convertible into other, non-Iraqi currencies -- including the dollar -- at the prevailing market rate.
NOW THEN AFTER READING ALL THIS WHAT DID YOU PICK UP ON? I PICKED UP ON…
“Once there have been national elections, and there is a new Iraqi Government, the new Government may introduce new notes, or a new currency. But this will be further down the line.”
THIS COULD HAPPEN AFTER JANUARY ELECTIONS OR AFTER THE NEXT. ANYONE WHO KNOWS VALUATION OF CURRENCY KNOWS THAT IF THE DINAR WERE TO GAIN VALUE THEY WOULD HAVE TO INTRODUCE LOWER DEMONIATIONS, AS WE HAVE SEEN HERE LATELY.

IF THIS CHANGE OCCURES IN IRAQ AS IT DID LAST TIME THEN YOU WILL BE STUCK WITH WALL PAPER. THE SOLUTION TO THIS PROBLEM I SEEN EARLY ON… BANK ACCOUNTS AS WE SEE HERE…
“Do I need to withdraw all my money from the bank?
No, money held in the banks will be automatically converted for you.”
SO A BANK ACCOUNT IS A HEDGE. HARD CURRENCY GIVES THE SENSE OF SECUREITY ONLY IN THE FACT THAT IT IS TANGIBLE… NOTHING MORE.
THERE IS ALSO A BELIEF THAT BREMER SAID THAT IT WOULD BE RELEASED ON THE WORLD MARKET, THAT’S A PHALACY WHAT BREMER SAID WAS “The new currency will be fully convertible into other, non-Iraqi currencies -- including the dollar -- at the prevailing market rate.” THIS COULD MEAN JUST IN IRAQ AS WE HAVE SEEN THAT THE CBI CURRENTLY HOLDS OTHER CURRENCY RESERVES SUCH AS DOLLAR, YEN, AND SO ON.
SO THE “PUT IT IN A SHOE BOX AND FORGET ABOUT IT” THEORY COULD NEVER BE MORE WRONG. THE INFLATIONAY NOTES THAT YOU ARE LEFT WITH HAVE BEEN ALREADY PAIED FOR BY SOMEONE ELSE AND IRAQ RECEIVED THE MONEY FOR IT, MAYBE NOT AS MUCH AS YOU PAIED, BUT DEFINATLY A GOOD CHUNK.
NO ONE KNOWS WHEN THE NOTES OR THE CURRENCY WILL CHANGE FOR SURE, BUT THIS DOCUMENT DOES PROVIDE A LITTLE INFO.


Comment by Forest Gump at March 13, 2005 07:09 AM | Permalink

TOO THE WRITER KNOWN AS GUMP!
For once you make an effort to contribute something useful to the board. You use facts, "that" I like.
Its a point of view that shows what could or "may" happen, using Paul's words. I believe the Webster dictionary defines the word "May" as "be in some degree likely"
Now with that said, lets look at the "Spirit" of the statement, the environment at the time which includes security, economic, infrastructure, etc;, the poltical climate at the time in Iraq and outside Iraq. All of these factors affect an authors way of thinking when he or she is making a statement or even writing speech.
Naturally, in his statement he would never say "never", "regarding any subject". Currency would not be the only suject "May" would have applied. At that time,the situation was just like riding a bucking bronco. You're now in the saddle, you've got the reins, but ya darn't sure ain't controling the horse. His head is down, and butt is up, you don't know which way he is going to go, left,right,forward or rollover.So to predict what a bucking horse ( or in this case a bucking country, or even an elected government that is not even in place, is "never" going to do would have been insanity, and no one would have believed)What he was saying is "anything is possible".
Gump, Ed McMann "May" show up on your door step just after I write this to give ya 10 million, but the degree of "likely or May" is slim compared to the fact he is still in his house and never heard of ya.
You remind me of a soul that has the whole 10,000 square miles of ocean to sail and enjoy.The water is beautiful and clear. The warm breeze and smell of sea salt is intoxicating, but there is a Rock Atoll sticking up out of the water about 9,999 miles from your present position, which you "may" run ya boat on and sink. You totally ignore the beauty of the sail, the adventure of the ride, the warm breeze, the beautiful different colors of the water changing as your adverture ship goes over different depths of water,the dolphins surfing in front of ya bow, the flying fish leaping 5-8 ft in the air from wave to wave as you silently glide over the serene, wonderful experience that some have bought a ticket on, called dinar investment.
For whatever, reason, you concentrate on and think, "Oh! only if that rock was not ,9,999 nautical miles away,sticking up, I could have a beautiful ocean to sail on.
Again, I state the facts. God gave us three tools to create our world and experiences in life, "Thoughts, Words and Deeds".
For yourself, you have created a world of "fear of the unknown" a world of doubt, a world of "what if's", a world of restrictive movement.etc;
Gump! you and you alone are the creator of your experiences within your environment. If ya don't like what you have created in your world, simply change your thoughts, and ya world experiences will change.
Michael, I hope it is ok to use you as an example.
Mike has been given some hard hills to climb. They are not impossible hills, just hard.His body may be injured, but I tell you, his soul is a fighter. He doesn't concentrate on his disabilities and does everything he can to enjoy the adventure of life and what he creates with his thoughts words and deeds.
Michael is sailing his own ship of adventure across this same ocean as you are, the difference in his experience is he just doesn't concentrate on the rocky atoll.He knows it is there, but being a prudent captin doesn't prevent him from enjoying the experience of the adventure and all that it brings. He adjust his sails according to what the climate is , not for a possible storm that "may or may not" occur.
I have a question? Why don't you be true to ya self? Why don't ya stand behind ya words with your true identity, that represent who ya are and how ya think. There is no need to be ashamed of your feelings. We can't help our feelings they just come, and we don't have to be sorry for them. We can give apologies for our actions, and should if they offend without justification or merit.
I see nothing you have written that needs any apology for. You have only written what you concentrate on. Concentrating on the negative is not a put down against anyone who has invested in the dinar.To stick one's head in the sand and to say I choose to ignore that information, because I don't ike the information is like saying, "I choose to ignore the rumble of a coming train, as I attempt to cross the RR tracks.
You have only betrayed yourself, by denying who you really are, and standing up for what you believe to be real to you.


Comment by Carl at March 13, 2005 08:55 AM | Permalink

ALSO GUMP!
Let me say this. I know some things about you.
You are daily reader of the board. You pay attention to what other writers express.You are a avid reader of the news both on internet, new papers, news articles, and probably watch several news channels such as fox news, etc nightly;
You are an investor in the dinar, or you would not have any interest in this board. You want to participate in a sharing of thoughts, because you think your contributions are important, and they are by the way.
You have participated on the board before under your "real first name", before switching "to the hide behind name of Gump" For what reason I make no attempt to read your mind.
You are educated and well read, and no body's fool. You may have a college degree or at least some college over and above your high school education.
Your style of writing has not changed since you switched from your real first name to the bogus name. Every person has a MO or method of communication. Style, word phrase, way of expressing, that identify them from everyone else.
Your style has pegged ya.
Ya see I believe I know who you are. I am good at at this type of game, and played mind games with the best. As an investigator, I profiled and interrogated for a living 22 years to be exact.
I will not say who I "believe you to be" on this board. I will let you do that if ya choose, that is not my decision. That is yours.
The one thing about profiling it deals with the word "may" but the degree of the possiblities of being right are a whole lots greater than normal.
Keep smiling,

Comment by Carl at March 13, 2005 09:23 AM | Permalink

Michael:

I grew up in Center Point. That is Northeast Birmingham. I spent a little time up around Fort Payne growing up. I did some camping there in Little River Canyon.

Carl:

My brother lives in Helena. You must have lived there before it booned up. It has become quite the busy place nowadays. I'm sure there was a lot less crime when you first started out there. Right now I'm in Little Rock, Ar. I have been here for close to a year. Before we came here we lived in Anchorage Alaska for 3 years. Obviously I'm in the military so I have to move around every 3 or 4 years. That is a peculiarity. I didn't think anyone was allowed to live there without choosing sides. Did you go to college in Alabama? I bet your house on the lake is pretty.

Comment by Chris at March 13, 2005 11:59 AM | Permalink

Chris:
When I bought my house in Helena, I paid $47,000 and it sat on a manmade lake. My ex-neighbor just sold his home which was next to me for $255,000, and it was smaller than mine, if that gives you any idea of how much things have changed there.
Went to College in Alabama, and The University of Oklahoma when I was a Oklahoma City Police Officer. I was assigned to the hell's kitchen of Okla City for 3 years. Served in Scout Car Div and then Tactical Div, assigned to back up teams. i came back to Alabama because I miss the being close to my family.
There are only 3 Federal Backyard Wildlife sancturies in Northwest Alabama. We developed one of them. Elaine and I have build a habitat for animals, and fish. We also take care of injured wildlife and then release them back into their habitat.
My home is located in a deep cove with steep hills on each side of my house.The drive is a winding 1/4 mile long wooded road with habitat build along the way to the house. Our home is the only one that sits over the lake. We have fish that swim underneath our house. The large bay windows face the lake with a large multilevel deck outside on the back. What is amazing is, while we watch tv or read, we have critters sitting on the window sills looking in at us. They actually jump on the screen doors every morning about 5:30am to let us know is it time to feed them. Elaine has a special ability to communicate with animals. I have never been around someone like her until we hooked up. Believe this or not, but she goes down on the lower deck, lays down, stretches her hand out over the lake water and large 30lb wild carp come in and allow her to scratch their back. She has wild birds come rest on her finger when she is outside working with the animals.
I have been truly blessed, for I get to see, smell, touch and hear god's wonderful creations every day, as they are such a big part of my life.
Too me God loves us unconditionally without a "but" being placed in it. He demostrates it every day with the unconditional love, the wild animals that surround our home give back to us in return for our unconditional love to them.
I hope that every member of this board achieves their goals in life, whatever it may be. My body is 57 years old, but my soul is as it was when I was 16. I get up every morning, looking forward to what I will experience today.I know regardless of what it is, it will be a lesson in something that will make me wiser.
Best wishes to all and to you Forrest Gump

Comment by Carl at March 13, 2005 12:57 PM | Permalink

Hey, You are all going to be rich....Just wait...and dont die in the next 60 years. Oh yeah, keep writing all your thoughts on this B.S. thread. Think about all the carp you could be petting if you werent wasting so much time on this shit. Its no wonder your wife is petting fish.

Comment by john at March 13, 2005 03:10 PM | Permalink

My god you married Mary F'n Poppins (birds on her fingers?) Is it Carl...or grizzly adams?

Comment by john at March 13, 2005 03:13 PM | Permalink

Carl, I know you are really me and I am you so you can write me and things about you to me but stop pretending to be you and just be me. Chris

Comment by john at March 13, 2005 03:16 PM | Permalink

Carl, Could you please "profile" me based on the above comments? I would appreciate to see how close you can actually come to a physical descrition, (race, age, gender) also if you could guess my occupation and maybey my annual income. God wants you to do this. Also if you could waste about an hour and a half or so of your useless ranting while mary is "petting the carp" and providing perches for the eagles and penquins, I would really be honored. Thanks

Comment by john at March 13, 2005 03:23 PM | Permalink

Carl, Please excuse the spelling and grammer errors, I only have three digits on my left hand and am missing my right eye.

Comment by john at March 13, 2005 03:27 PM | Permalink

The flagship's turrets turned to bear on the Longsword and Pelican. They glowed like angry eyes in the dark.
"Three hundred kilometers."
Light sparkled along the length of the Covenant craft as it pre¬pared to fire; dull red plasma gathered; three torpedoes extruded and raced toward them.
"Evasiv—" the Chief said.
Cortana banked hard port, starboard, and then hit the after¬burners and pulled up. Streaks of hell&e brushed close to the hulls of the Longsword and Pelican—then were gone behind them.
The Chief had hoped for this: Their extreme oblique approach angle combined with their speed made them hard to hit, even for the notoriously accurate Covenant plasma weapons.
"Ten kilometers," Cortana announced. "Scanning in burst mode."
They flashed over the three-kilometer-long ship in the blink of an eye. The Chief saw gun turrets straining to track their ap¬proach. The alien craft had sleek lines, relatively flat top to bot¬tom, but it curved from stem to stern into three distinct bulb sections. Along its hull ran glowing blue conduits of super¬heated plasma; surrounding the ship was a faint shimmer of sil¬ver energy shields.
He eased back into his seat. The Chief hadn't realized that he'd been holding his breath, and he exhaled. "Good," he said. "Very good."
"Burning into a high slingshot orbit," Cortana announced.
The Longsword's engines rumbled. The acceleration played hell with the Chief's inner ear. He wasn't certain for a moment which way was up.
"Bring us closer to the Pelican," he said. "Right on top. Give me a hard dock on its top access hatch."
Cortana set her hands on her hips and frowned. "Readjusting burn parameters. But you know a linked-ship configuration dur¬ing an orbital burn is not stable."
"We won't be linked long," he said and slipped out of his har¬ness. He drifted aft, pulled himself down to the floor and opened the Longsword's access hatch. Green lights on the intervening pressure door winked on in succession. He removed the safeties and popped the seal.
who am I Carl?

Comment by carl at March 13, 2005 03:33 PM | Permalink

ever seen a flat line? AKA dead
http://finance.yahoo.com/currency/convert?from=USD&to=IQD&amt=1&t=3m

Comment by Dinars are Dead at March 13, 2005 03:37 PM | Permalink

Carl, Hey this is Tom can I get some help on my new book? I was looking for someone with inside information on Iraq but I find that your ability to compile (cut and paste) toatally useless information and compile it into plageristic news articles on this post somwhat refreshing. Im sure people come to this post to read about your views I would like to hire you to help me write my new book, I will title it "Iraq and Carl" and we can include all your post to date.

Comment by Tom Clancy at March 13, 2005 03:51 PM | Permalink

ALSO CARL!
Let me say this. I know some things about you.
You are daily reader of the board. You pay attention to what other writers express.You are a avid reader of the news both on internet, new papers, news articles, and probably watch several news channels such as fox news, etc nightly;
You are an investor in the dinar, and masterbate frequently or you would not have any interest in this board. You want to participate in a sharing of thoughts, because you think your contributions are important, and they are by the way.
You have participated in homosexual orgies before under your "real first name", before switching "to the hide behind name of Carl" For what reason I make no attempt to read your mind.
You are educated and well read, and no body's fool. You may have a college degree or at least some college over and above your high school education and your wife pets fish.
Your style of writing has not changed since you switched from your real first name to the bogus name. Every person has a MO or method of communication. Style, word phrase, way of expressing, that identify them from everyone else.
Your style has pegged you.
Ya see I believe I know who you are. I am good at at this type of game, and played mind games with the best. As an investigator, I profiled and interrogated for a living 22 years to be exact.
I will not say who I "believe you to be" on this board. I will let you do that if ya choose, that is not my decision. That is yours.
The one thing about profiling it deals with the word "may" but the degree of the possiblities of being right are a whole lots greater than normal.
Keep smiling,


Comment by Mirror Man at March 13, 2005 03:57 PM | Permalink

Gee! John!
I seemed to have touched your hot button! I didn't know you were so sensitive? I believe the last post was to chris responding to what it was like at my place. You must be wearing those tight jeans again that pinch a little in the crotch.
Keep smiling John.

Comment by Carl at March 13, 2005 04:01 PM | Permalink

John, you GRUMPY old fool! Why don't you ever post anything positive? You are always so negative. When someone actually tries to help others by posting what really matters in life, you go BALLISTIC and shoot them down.

Now we know what not to discuss in this forum….NOT!!!!

I have a bottle of happy pills if you want a few, matter of fact, take the whole bottle, not that it’ll help you. Maybe crawling back into your cave and waiting till spring to come out will change your CRANKY mood.

Maybe you just need to grow-up a little and realize that you’re acting like a FOOL. What’s it going to take to get through your thick skull to understand? Once you’re on your death bed; sitting there reminiscing about your past and realizing how bad you treated those who tried to help you, you’ll wonder why you did. You’ll regret not taking the advice of those who tried to save you. You’ll be heading out the door with no idea of where you’ll be going and if you need SPF 30 or not.

Proverbs 15:14 tells us that if we have God's understanding, we can ask Him for the knowledge to overcome every trial and problem we face. God is bigger than our grief, sorrow, pain and every problem that any of us could face. We must never blame Him for our troubles, as the devil is the trouble maker, not our Lord. God is there for us, to help us overcome anything the enemy has done, or is trying to do. God is the one that will rescue us and help us in our hour of need. However, we must not be like the fool who feeds on his folly. This is a person who is continually mouthing his troubles and blaming others, including God, for his circumstances. He feeds on self-pity and rehearses his problems to all who will listen. We must give our heartaches and troubles to God and keep a cheerful attitude no matter what is going on in our lives. We need to remember, "this too, shall pass" as God is eternal and has a good plan for our future.

As Christians, death is the last enemy we face, as we have the assurance that we shall see all of our loved ones who have died in Christ once again. The devil may have snatched them off this earth, but because they belong to God, He snatches them from the devil and takes them home with him. We will be reunited with them. That shall happen when we get to Heaven, or when Christ comes again to this earth and brings them with Him at the resurrection. We are not like those who have no hope. In Christ, our future is full of His promises and we are promised victory over death and the grave!

So John, what will you do? Will you choose LIFE, or will you choose DEATH.

BUT AS FOR ME AND MY HOUSEHOLD, WE WILL SERVE THE LORD….JOSHUA 24:15

Comment by James at March 13, 2005 04:17 PM | Permalink

TERRANCE THAT POST YOU MADE ABOUT US ALL MEETING AT SAID ISLAND WILL BE JUST GREAT. I LIKE THE POSITIVE POSTS NOT THE NEGITIVE. SO I WILL JUST STAY MY COURSE LIKE THE SMART ONES AND REEP MY REWARDS SOON IN THE NID.
GOOD LUCK TO ALL RON

Comment by RON at March 13, 2005 05:00 PM | Permalink

Whats with all this religous stuff ?

Comment by JJ_Dinar at March 13, 2005 09:38 PM | Permalink

Didn't we all come to this site to monitor progress on the Dinar and provide info to each other regarding the Dinar? Let's get back to Dinars and quit wasting space on other crap!!!!!

Comment by Ed at March 13, 2005 09:56 PM | Permalink

Thanks and love to our troops, talk about underpaid, wish I were in control of your paychecks and benefits. Anyway, I can't seem to reach Portaliraq, would someone please tell me the exchange rate with usd and the nid as of today March 13,2005? I am being patien and love reading all of your comments - Biblical,Apocraphyl and humor wise. BUT I DO NEED INTELLIGENT INFO' ABOUT MY DAM INVESTMENT. Thanks and Shukran and all .

Comment by Abadeet at March 14, 2005 12:34 AM | Permalink

Ed: I'm with you. Why no comments on some of the important new articles out today or up comming events. Such as what's happening this Wed. Iraq is getting a new government!

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

Abadeet: Go to NBK.COM or bankofiraq.com

Go dinar

Comment by chromeman at March 14, 2005 01:16 AM | Permalink

XE.com 1.00 USD....1462.55 NID March,14 2005

Comment by ABBY at March 14, 2005 02:49 AM | Permalink

GOD DAMNIT,
good news, looks like they raised the amount of money in the federal reserve bank to a total of 6.65 billion USD
http://www.cbiraq.org/Auctions%20Indicators_EN.xls
would you religious faggots STFU already!!!!!

Comment by biffreynoldz at March 14, 2005 05:06 AM | Permalink

i'm with you, stop the religious stuff, lets get back to terrance cooking us a pig on the beach in hawaii. its fun to dream, stop trying to smash them, just cause we like to think positive about our NID, does not make us the bad guys, terrance, make sure the rotiserrie is ready to go, excuse my spelling, have a great day, tommy

Comment by tommy at March 14, 2005 07:11 AM | Permalink

YA DON'T WORRY ABOUT A NAT WHEN YOU HAVE A CROCODILE IN THE WATER.
In the last few post, some have been worried about a currency change. As I have stated many times, what affects one part affects the whole. Nothing sets in a vacuum. The purpose of this post is to discuss a topic that can bring the curtain down on us dinar investors.
It seems a supposely rogue Pakistani scientist gave nuclear centrifuge technology to N. Korea,Libya, and Iran without permission.
Since that time, N. Korea went on a little crowing spell about it. The U.S. reacted very little other than to say they were not qualified to have that technology. Iran observed this, and saw the "Great Satan" as they refer to the U.S., did not do anything other than talk, when a country weaker than they, treated the U.S. with disrespect.
In the Middle east they have always ruled by force, terror and intimidation. That is all they know, and most have no interest in changing.
A brilliant deduction to them, would be the reason why the U.S. did not act more strongly against N. Korea, is because we are incapable of doing so. We have bounced to many checks against ourselves and have now become weak financially. We have decreased our men and miltary capabilities to the point that we are having trouble just recycling fresh troops into Iraq.
IRAN WAS CORRECT IN THEIR DEDUCTION. Later, when a Iranian official was asked, are they afraid of an attack? His answer,"They are not in the position to do anything." They had fiqured it out.
Now we have Iran, Iraq's next door neighbor, playing the game "don't mess with my toy" senario.
The question is not do they have it? The question is what is the "motive" for them going public with it? Then throwing darts at every negotiation balloon being launch to mediate the problem to everyone's satisfaction. (remember history repeats itself..hitler did the same thing)
About 6 weeks ago, Iran announced that if Syria was attacked, they would jump into the fray.(banner wave) Then , they have continually made veiled threats about anyone trying to stop their nuclear program.(saber and banner waving)
First, in my opinion, I do not believe all of this Iranian bluster has anything to do with the nuclear centrifuge. It is what they are using as the banner, just like we did with the WMD's.
The Prize is "IRAQ".
When we kicked Saddam's legs out from underneath him, we left a vacuum.
The one who gave the coalition the most false information about the WMD, was chalabi. The Coalition Intellengent agents then, connected him to releasing confidential information to Iran about how we intended to setup the new Iraqi government, and Chalabi was our "golden boy". The fix was in for Iran, their plan was working until he got caught with sticky Iranian candy on his hands. I truly believe it was Iran, who manipulated the coalation forces into attacking Iraq. We did what Iran wanted, topple Saddam and create an opportunity for Iran to take control of the country.
Iraq has a shia population.Some members of the Al Dawa Party have the same beliefs as the Iranian Theocratic government.Iran population is primarily Shia. Iran and Syria both have been suppling funds and opening their borders to the insurgency. (purpose continue to create instability, and prevent the election, but this failed)
Iran, Syria and other middle eastern countries government feel threaten by the democratic events. This makes them extremely nervous. The Iraqi Shia are the dominant force in the newly elected government. They will have a leading man to be seated in the prime minister spot.He in turn, along with other members will appoint individuals who have the same government ideology and relgious beliefs. Those appointments will be influenced by al-sistani and Al-Sdar, two of the most popular people in Shia Iraq. (Al-Sistani is connected to Iran deeply)
(If you want to read up on how they will be influenced by their faith, then type in "Shia Laws" on the internet, and you will get more than you really want to know)
Now! lets bring in the ignitor. Israel.
Israel will not allow Iran to keep the nuclear capability for national security reasons. Israel is hated by all of the middle eastern countries, including our mutual interest allies in that region.(they are the blasting cap that can set the whole region a fire)
If Iran can goat,Israel into attacking them, this in turn will give them an excuse to invade Iraq, because we, the U.S. are defenders of Israel.Iraq is still in a infancy strut. Their governmental infrastructure, economic, and military are still on very unsteady legs. A gentle push can topple the baby so to speak. Iran knows this. Whoever controls Iraq, controls a country of enormous wealth, and Iran knows this. They are the only ones strong enough in that region to pull it off.
If they can invade with just cause under their banner, they know most of the Shia will go with them, either out of faith or fear of being killed themselves if they do not.
If we defend Israel,in the retaliation attack from Iran, (and we will) our mutual middle eastern allies will attack our bases in their country, for they will side with the other nations if only for self survival, of their regime.
If this happens our staging and supply bases are gone, and we cannot sustain a military power without proper logistical support. Otherwords, Iraq will be lost to Iran, as we do not have the manpower, equipment,national treasury, or congressional leaders with the will to attempt the fight.Israel will be on their own as we will not have the capablilty to help until our war machine ramps up. (unless we use nuclear), oil lanes shut down, and the life blood that feeds the U.S. economic base will cease.(we have allowed our survival to depend on middle eastern oil) The U.S. economy will collapse like a deck of cards upon itself. Thus what begin on 9-11 is now complete.
March 13, News organizations publish Israel prepares plan to strike Iranian Nuclear Plant.
Presently, diplomacy is at play, as France, Germany, Britian offer economic incentives for Iran to abandon it programme. Other European countries have agreed to bring the issue before the security council if the first round of talks.
fail. Iran has stated, if they are brought before the Security Council they will consider this as an aggressive act by the U.S. and take action to stop the flow of oil in the region. (why do you think oil has spiked in the last two weeks?)
Does this sound like someone wanting to settle an issue or start a fight?
The United States and its allies have already been briefed on what Israel intends to do if diplomacy fails. The Israel's inner cabinet has already "Given Initial authorization for an attack".
Remember, I stated, words are more powerful than explosives. Silvan Shalom, the Israeli foreign minister stated, they will not allow Iran to develope their nuclear program. Dick Chaney, recently stated, Iran will face "stronger Action" if they fail to respond to diplomacy. Saturday, Iran rejected those economic overtures of conciliation.
U.S. Officials stated, arm conflict has not been ruled out, if Iran continues their push for nuclear technology.
Now is the time, for the U.S. to allow other nations to pick up the lead on this issue. This is for two reasons. One, it takes us out of lead and focus of arab nations. It removes us as the bad guy, and lessens the propaganda machine fodder for Iran and its supporters. Two, Our military strength or economic strength is not in the position to assume other conflicts at this time. You do not take on a conflict, if it makes you weaker in the long run.
The holders of the cards to defuse this issue is more than likely, Eqypt, Saudi Arabia, Kuwait, Yeman, etc. They do this only for "Mutual Survival and Interest". They will attempt to convince Iran, they can have their cake and eat it too, given time to manipulate the newly elected assembly in Iraq. This will probably succeed in convincing them, but not before more saber and banner waving. After all, you gain the respect of your people, and other like thinking middle eastern nations, if you thump your nose at "The Great Satan"
So worries about Iraqi Dinar currency change in 2-3 years, Iraqi Insurgency, is the Iraqi government going to be or not be an Islamic style government are "Nats" compared to what's swimming in the water with us dinar investors at the present.The croc ain't close, but he knows we are there, and he wants to see if we run or turn to fight.
May you create some wonderful experiences today,



Comment by Carl at March 14, 2005 09:11 AM | Permalink

Biff, it’s nice to see you’ve extended your vocabulary a little. Even making up words as you did “Religious Faggot” is a start in the right direction. Baby steps are good; we all start out as infants and eventually go to toddler hood, then to preschool and so on. Looks like you’ll be an infant for a while.

Biff, please tell the whole world what a “Religious Faggot” is? Since it’s not in the dictionary and there’s no where to look the word up, we would like for you to give us a definition. If you are able to provide us with a definition, please make sure it accurately depicts what a “Religious Faggot” is and provide facts. Too many people assume; we need hard straight facts.

I know you as well as everyone else who criticizes Christians are probably pretty cool people, but there’s one thing that keeps us apart, and that’s our faith. We chose our faith simply because we believe that there is a Creator, and he sent His Son to die a horrible death on the cross, only to cleanse us from our sins, and provide us with the opportunity to be with him forever in Heaven.

You may not be interested in this, but there are several others that are. And for you to criticize Christians like this puts doubt in the minds of those who are interested and want to change their life. Why would you want to take that away from someone? That’s a very childish and selfish thing to do.

Anyway, I have no ill feelings toward you guys, but when there’s an opportunity for me to defend my “God,” you better believe I’ll take it. God Bless you guys, and I’ll be sure to pray for you all that the Lord will be able to work in your lives to bring out the GOODNESS in your heart. I know you guys have it, but its just a matter of finding it.

Comment by James at March 14, 2005 09:16 AM | Permalink

Hey religious faggot I thought this site was a free for all on the Iraqi dinar. I didn't know they changed the site to preach my gay ass religion site. You just go ahead and live your life for god and i'll live mine for me. I have complete mental freedom. Your mind is like a broken record, god god god god god god god god god god god. Why can't you just believe what you believe and leave everyone else alone? Why do you try to drag other people into your pathetic brain washing crap? There is a time and a place for this crap and it's not on the Iraqi dinar free for all website.

Comment by biffreynolds at March 14, 2005 01:42 PM | Permalink

Biff...Biff...Biff, why be so negative? There you go again with your childish ways. Didn't anyone ever tell you, "If you can't say something nice, then don't say anything at all.”?

I understand you want to live your life for YOU, and that’s your prerogative, but DON’T ruin it for those you who want to live their life for GOD. If you don’t like what’s being posted, then simply ignore it. You have the right to read or ignore, so ignore and keep your ludicrous comments to yourself.

In any case, I’ll keep praying for you. Good luck…and have a great day.

Comment by James at March 14, 2005 03:40 PM | Permalink

Hope you all had a good weekend. It looks like it was a crazy one on this board the last couple of days.

Just ignore all the God-bashing and all the foolish talk and remember none of us can control anything that happens to the NID...so relax and have some fun. Just hang loose and wait for that baby to do its thing. The only thing we can all do is prepare and stay informed on how to change the NID into US dollars the cheapest way possible. The currency market will take care of itself....trust me.

The Larue scenario will happen sooner rather than later and we will be sitting in the fine white sands of Hawaii overlooking the Pacific blue, listening to the waves roll in, feeling the warmth of the sun, and smelling the fire pit roasted pig as we eat a little fresh pinapple together with our families and friends....

T-

Comment by Terrance at March 14, 2005 04:40 PM | Permalink

Are you retarded? I don't care if you live your life for god. I'm not trying to ruin anything for anyone. Get a clue dumbass this site is for Iraqi dinars. Do you understand what the topic is on this site? Let me help you out, it's for Iraqi dinars. If you want to talk about god go to a fricken christian chat room. I'll make any ludicrous comment I want. IMO your god crap is ludicrous. So keep your ludicrous god crap to yourself BITCH!!!

Comment by biffreynolds at March 14, 2005 04:44 PM | Permalink

Ladies and Gentlemen,

I really enjoy this site, and have stated before that, "this is where I come to get updates on what's new with the future of the NID.".

As of late, I'm have been teaching myself to glean what useful info I can (if any), but to mainly "skip over" the majority of irrelevant posts. Seems folks are attacking each other left and right, and much of it over religion.

Hence, I simply ask, "Is it 'OK' if we just concentrate on the NID?..."

I have, and am confident in, my religious beliefs too, but would much rather focus on the prospect/s of our investiment in the NID.

Don't get me wrong. I have enjoyed reading all of the enlightened comments to date, but can also see too, that we're straying away from the true topic of this thread. ...Not by design, but I see it taking place just the same.

Don't anyone feel the need to attack me, its just my $.02, and I only offer it to the benefit of all.

Read a post recently (think it was by Carl) that talked about getting your Dinar into a bank account where they (the bank) will take all of the guesswork out of the currency exchanges / transactions, etc., - believe me, that makes the most sense, and "IS" the way to go.

You just have to find the right bank.

I'm still looking into the banks in the Cayman Islands, but they won't answer my e-mail inquiries. I don't know if they're not getting through to them, maybe they're not taking me seriously, or what... I do know now that I'll have to call them personally, but am so busy that I can't seem to find the time to do so.

Nevertheless, I'm going to have to do it soon.

Handling your Dinar in that manner will make it all foolproof, and will certainly help all that do so sleep better at night.

If you'd like to start researching it yourself, here's some info to get you started: http://www.yellowpages-carribean.com/Countries/Cayman/result.cfm?country=KY&Cate...

This website will give banking reference info in the Cayman Islands. If you choose to do it in some other part of the world that's fine too.

Thanks Carl for your recent post concerning the behind the scenes issues with Iran, Syria, and Israel, and what all of this can lead to. That's the real deal.

Thanks and good luck to all.

Bill1

Comment by Bill1 at March 14, 2005 04:52 PM | Permalink

Hello Again, I think both sides got there point across what faith they decide to take, so lets end that debut. Bring up the Bible because it relates to Iraq becoming a rich country is fine and learning some more about the Bible was helpful and appreciative however, lets get back to what we all have in common and thats the Iraq Dinar. Sitting here and reading all this reminds me of why the Middleeast people can't get along with each other. Its time to come to some halfway point on "Our Beliefs" and move on.

Now I have some questions for yall about the Iraq Dinar. When do yall think the NID will go on Forex? I hear toward the end of June.
What do yall think the opening price will be when it does go on Forex? I have heard all kinds of figures but realistic, I can't see it being no more than a penny or two. All these crazy numbers like 25 cents and 1 dollar just don't make sense. Why I believe that, Is let's say we all have the same bank and everyone withdrew all the money at one time now how would the bank operate . A 25 cent would mean everyone and there brother would be at the exchange place the next morning exchanging the IND for Dollars or Euro. However, if it would be like a cent or two , some people would exchange but more people would hold out longer allowing the banks to maintain.
Also , things look like they may get a little nasty over in the Middle East if Dipolmats don't work out with Iran to get them to stop there nuclear plants. Israel said that if talks don't work that they would take things in there own matter and US would not intervene if that would happen.

Comment by Hank at March 14, 2005 04:53 PM | Permalink

Please keep the conversation civil and on target.

People come to T&B to read about the latest Iraqi Dinar news. I own T&B and can intervene and change or delete comments, but I really don't want to do this. I don't want to be a speech cop.

As fun as it may be, please refrain from impugning each other's religion or lack thereof.

I hadn't planned on touching any of your comments, even the rumors, propaganda, or disturbing nonsense, but I'm starting to get complaints about too much noise here. Still, you're not children, and I'm no fascist, so do us all a favor and just stop it, OK?

Thanks for reading T&B, and please email me, kevin -at- truckandbarter.com, if things get out of hand.

Comment by Kevin Brancato at March 14, 2005 05:07 PM | Permalink

Hank:
I think the NID will open at a low rate to begin with also.. But, at a penney, we still make a good profit.. I have been thinking that it might open at the rate it is now or just a little above, and gradually move up slowly.. Thats just my opinion. I know the attacks are hurting the NID, but it would seem to me that the government would go ahead and get the NID on the as soon as possible. It would be showing the insurgents, look, your not stopping the democracy of Iraq..

Comment by Michael at March 14, 2005 05:27 PM | Permalink

Saw this on investorsiraq.com today. Trade Bank of Iraq is buying NID at 1402 per US dollar.

Here's the link to Trade Bank of Iraq
scroll to the bottom , go to page 2 then scroll to the bottom right side of the page, it will roll up with the other currencies
--------------------------------------------------------------------------------

http://www.tbiraq.com/tender.asp?showTop=true

Ed

Comment by Ed at March 14, 2005 06:44 PM | Permalink

Everyone, first of all, I just wanted to apologize to those who were innocent victims of these violent outrages. I never intended for it to come to this. And to Kevin Brancato, please accept my apology for having to get involved with this. You’re right, we are all grown adults; we should start acting like it. We don’t want our children reading this, wondering why we tell them to act a certain way, and we turn around and act the same way we just told them not to.

To Biff, John, and anyone else who I directly offended. I apologize for coming on too strong; I just wanted to get my point across. (Touché) You go to admit, it did bring some life in to this forum. TO EACH HIS OWN!!!

I’m going to stop talking about religion, not because Biff wants me to, but at the request of the owner of this website. But, if I am able to relate Biblical principals that pertain to the NID, you can rest assure I’ll take part.

One last request for Kevin Brancato, since many who participate in this forum have different views about the NID, and not everyone wants to hear about them, can you provide us with a forum that we can use to discuss the NID? We all have one thing in common, which is the NID. But, not everyone’s lifestyles are the same. So, for you to provide us with some space to have these discussions would be greatly appreciated.

Thanks for all your patience and God Bless!

Comment by James at March 14, 2005 07:17 PM | Permalink

Any updates on the Dinar? After all that is what this blog is for.. John, Carl.. you guys were putting out some great info..

Any update on a currency change..?

Any update on the Dinar getting on the market?

Happy Dinar Days ahead,

Take care,

Ian

Comment by Ian at March 14, 2005 08:17 PM | Permalink

James:
You have nothing to say you are sorry for.
It wasn't you with the limited ability to speak English. Believe we know who kept their respect and dignity.
Go Dinar
(just thought I would throw that in so this post would least mention its subject.


Comment by Carl at March 14, 2005 09:17 PM | Permalink

So nobody wants to make an educated guess on when the money is going on forex or know where i can get any readings concerning this matter so that i could possible do some research on this. I would appreciate it, thanks

Comment by Hank at March 14, 2005 09:41 PM | Permalink

The following article will be insightful and you will want to use Khaleej Times online to keep up dated with events in Iraq. The Kurds are asking for a lot, because of Saddam H. expulsion of around 100,000 Kurds from Kirkuk. I guess there deserving of what they are asking for. I sure hope they can come to an agreement so the government can move ahead on the 16th. Your going to want to past this sight if you don’t have it.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/March/focusoniraq_March68.xml§ion=focusoniraq&col=

The John Larue scenario is doable. Can’t wait for June. My guess on FOREX listing IQD to be late Sept or Oct 05. Possibly not until after final elections.

Comment by chromeman at March 14, 2005 10:13 PM | Permalink

Hank:
Its going to be a while. Not until later part of 2006 or sometime in 2007. Reason for these dates given, this is the time frame for Iraq to be approved by International monetary Fund. It will not happen until then. To set up for international banking, and to meet the guidelines, it will take that long. Plus banks have to apply to do business in Iraq, purchase land, build, hire, train, etc;
Other varables but I won't go into those. You have the time frame. Sorry! wish it would be earlier. That is the projection set by the industry, not me.

Comment by Carl at March 15, 2005 02:02 AM | Permalink

Dear Sir
I would be grateful if you could register our website in your directory (search engine), I am S.Sam the marketing manager of Baghdad bazaar http://www.baghdadbazaar.com .
Please send to reply to my email address.

Best Regards
S.Sam Baghdad bazaar

Comment by s.sam at March 15, 2005 03:32 AM | Permalink

Carl:
where is your source data for IMF approval ?

"Its going to be a while. Not until later part of 2006 or sometime in 2007. Reason for these dates given, this is the time frame for Iraq to be [B]approved by International monetary Fund[/B]..."

Comment by JakeP at March 15, 2005 07:42 AM | Permalink

Thanks Carl, I like good honest answers and you got some meat to put on those potatoes ( you got reasons and facts) So Carl, or whoever, What amount do you think the NID will open up with and how we you convert your NID into another currency when the time arrives. Will you open up a bank account in the united states or some foreign country. Last questioned, so what you are saying Carl, is that i have at least 6 more months to buy iraq dinar before the price goes up or do i have less time then that. thanks for your last answer on when .

Comment by hank at March 15, 2005 08:43 AM | Permalink

Jake:
I'll go back and get that information for ya.
If ya want to look for it, I refer to the time line in a previous post I made back in Dec,Jan or Feb 2005, really not sure of post date. Iraq has been accepted as a temp member, but will not be given full membership, until all banks meet international banking guidelines, and other financial requirements. Some of the Iraqi bank officers have completed the course, and are now back in Iraq setting their banks up for international trade. The Iraqi Banks have been approved and met for the first time the "international banking guidelines". They did this a few months back.
Forex is not going to get in play until Iraq has most, if not all of the their banks trained in meeting international banking guidelines. The projection for that completion I believe is July 2007.That is why I put late 2006 as their time line,or 2007. As they may have speeded up their time line some. The bankers are being trained in Jordan by groups, as I type this. Currency trade was orginally set up for banks to trade in foreign currency, as I understand it. But also allows other individuals to have the same play on currency as the banks when trading. Profits or losses in the currency market are indicated by PIPS.( If someone has other information regarding this, please add or correct any misunderstanding that I may have)
I have been doing quite a bit of research on recent rebuilding efforts, since the insurgency is not as active as they were. Projects that were stopped cold have now resumed. I will detail some in the next few days.
This is not to say the insurgency is going away. By all articles that I read in the middle east papers, most feel the insurgency is still regrouping and will make another grand appearance before too long.
Things are starting to happen rapidly since the election. I will give more details in the near future. Economic conditions are improving, from all information I have gleemed through.
Iran! today made a counter offer to resolve the nuclear issue. As I stated earlier, the Croc is in the water with us, but he is not sure if he wants to take a bite or not. I believe the Iranian nuclear issue will be settled in the next few weeks or months. Why! Behind the scenes,the other middle eastern nations are going to put pressure on Iran to do so. Because they all know if Iran continues to act up, it