More on the New Iraqi Dinar

By Kevin

THIS POST IS CLOSED TO NEW COMMENTS. A new post has been created: Here's a link to the current active post.

Here are all the posts in sequence:

1) June 16, 2004 - June 27, 2004
2) June 27, 2004 - November 6, 2004
3) November 6, 2004 - April 11, 2005
4) April 11, 2005 - June 22, 2005
5) June 22, 2005 - July 22, 2005
6) July 22, 2005 - April 30, 2006
7) April 30, 2006 - July 13, 2006

8) July 13, 2006 - ...


If you guys & gals encounter any problems, email me at kevin-at-truckandbarter.com. Your previous email has been very helpful in the administration of this site.

Thanks for your patronage.

We continue our analysis by noting the spectacular losses that some speculators have accrued as the dinar has gradually been losing its position against the dollar:

Speculators who stashed away "Bremer dinars" earlier this year in the hope their value would skyrocket are suffering enormous losses as the official Iraqi currency plummets. Hit particularly hard are a high number of Egyptians, who had earlier raced to pick up the currency.

"Many people sold anything they could to buy Iraqi dinars," Mohammed al-Abyad, chairman of the Egyptian Foreign Exchange Association told IPS. "When the dinar went down these people lost a lot of money."

The Iraqi dinar was trading at one Egyptian pound (16 cents) per 50 dinars on the black market before its value dropped sharply earlier this year on news of escalating insurgency in Iraq. The pound is now worth 210 dinars on the black market.

"The black market has narrowed and the currency has no liquidity now," said Shady Sharaf, head of market research at Cairo-based al-Shorouk Brokerage. "The people cannot sell the dinars they bought, which presses on demand."

I highly suggest reading the rest of the article.

In January, Radio Free Europe noted that "Egyptian media reported last week that one in 10 passengers inspected upon entry from Jordan, Kuwait, and the Gulf States were found to be carrying Iraqi dinars."

I have yet to be convinced that the dinar will increase greatly in value, and do not own any dinar myself.

-- June 24, 2004 12:50 PM |

Comments

Russell wrote:

Why not take the chance? The only thing you have to think of, is how much can you afford to "gamble". Myself, I have been to Las Vegas, and lost over $1,000 in two days. No big deal, I knew I could afford to lose it, oh well, it was fun trying.
This dinar is the same thing, in the fact that what if. I would hate to be sitting in my living room, watching the news five years down the road, and see that Iraq has been stable for a couple of years, producing unbelievable amounts of oil, and the dinar is worth 2 dollars for one dinar. Now that million dinar i COULD have bought could have made me a millionair.
The thing is, even if it stays the same as it is now, I am not losing any money, and have just made a possible long term investment. Hey, I will be laughing all the way to the porsche dealership!

-- June 27, 2004 6:39 AM ∞

Brian wrote:

I completely agree with Russell. It is a long term investment. I have a Brother working for KBR in Kuwait, and we both purchased 2.5 million Dinars. Even if the currency goes to .02 cents for each Dinar, I am set to make about $50,000. If anyone checks currency rates, the Afghani is currently worth .023 cents per Afghani. I personally thing Iraq has more going for them then Afghanistan.

-- June 30, 2004 12:16 PM ∞

sojean wrote:

I'd just discovered that I could purchase Iraqi dinars as a long term investment. So I purchased 125K dinars. Now I wait and see.

It has a great potential now that Iraq is under a new government and is still protected by the US and soon Nato. Reconstruction has begun.

Iraq has a good future and so is the new dinars.

-- July 1, 2004 12:55 AM ∞

casey wrote:

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

-- July 3, 2004 1:37 AM ∞

anthony wrote:

i to have bought 1 million dinar when i was over there for kbr and i bought it for 1/10 th of a us penny can you really say im going to take a loss.lets be realistic.i cant wait to be a millionaire

-- July 3, 2004 2:13 AM ∞

Joel Klee wrote:

Hello, My name is Joel Klee and I am stationed in Iraq. I am in a Navy unit working with KBR and it wasn't until recently that I decided to buy my Dinar. I have purchased almost 2 million dinar. Read this same post two years from now and see if I made a wise choice. My gut instinct tells me I did. I paid out a total of $1500 dollars, far less than one paycheck here. Now if I only make a fraction of that in profit I will have made a solid investment. There is one very important thing to remember about this country, actually two... There is now an established government and there is a ton of oil that other countries will need. If you bought iraqi dinar an you too become a millionaire, look me up and we can talk about becoming very rich.

-- July 3, 2004 11:20 AM ∞

ASHRAF wrote:

HI

I AM ASHRAF FROM PAKISTAN AND I HAVE IRAQI DINAR BUT I WANT YOUR COMMENTS, WHAT IS A FUTURE IRAQI DINAR RATE AND RECENTLY NEW GOVERNMENT WHAT IS POLICY IRAQI DINAR AND RATE.

YOUR EARLY RESPONSE I WAITING

ASHRAF ALI MUHAMMED

-- July 3, 2004 1:34 PM ∞

Mark wrote:

Anthony, you can get through both airports without any problems. I have taken 11 mil through there. Yes this is a wise decision to buy Dinar. Hang in there.

-- July 4, 2004 9:54 AM ∞

dt wrote:

I have a very good question here:

When is the "New Iraqi Dinar is to be traded on the new current exchange in the United States?

-- July 4, 2004 10:53 AM ∞

Kim wrote:

I'm far from Iraq living in Europe but I'm interested in buying iraqi dinars. Is anybody willing to deal with me overseas ? I'm prepared to offer euros or us dollars, by money order.

-- July 5, 2004 4:02 PM ∞

Antiarab wrote:

Face it guys, In the US, If president Bush does NOT get re elected, the iraqi's new government will fall apart and you can forget about the iraqi dinar!!!

-- July 5, 2004 6:54 PM ∞

careyp wrote:

I will bet on freedom every time. Consider the condition of the former Soviet Union in the aftermath of the fall. Now, the Russian economy is growing similar to the strongest in the world. Kevin, I appreciate your opinion and obvious area of expertise. However your opinion is nothing more than an educated guess. Just like mine.

-- July 5, 2004 11:44 PM ∞

ry wrote:

to yall who already bought the dinar from iraq, good job! Thanks guy workin for KBR the food that got to kirkuk was great! The dinar trades online at 550 to 1!! We bought ours at 1450-1475 to 1!! Weve almost tripled just by coming home!!

-- July 6, 2004 12:02 AM ∞

Chris wrote:

While working in Afhganistan for a major contractor, my partners and I have agreed to buy the Dinar. Yes it is speculative. But as mentioned in some comments, people should only buy if they can afford the risk. For short term investments, you are better off with penny stocks, but possibly with a long term outlook, the return would be tremendous. There will be stability within Iraq, the question should be is, how stable will the oil flow be to support the economic infrastructure. The answer, do you really think the U.S. and coalition would let Iraq collapse to insurgents..

-- July 6, 2004 12:24 PM ∞

Rafik wrote:

If president Bush doesn't get re elected and a democrat gets into power in the US, The U.S. will let Iraq collapse. You will soon see my friends.... For the Dinar's sake, just hope that Bush wins!!

-- July 6, 2004 6:52 PM ∞

M&M wrote:

JOIN US ON THE OTHER THREAD,, LOT's MORE INFO

http://truckandbarter.com/mt/archives/000098.html

-- July 6, 2004 9:29 PM ∞

David wrote:

I am in Iraq currently with KBR. I have gotten just a little over a million in Dinar thus far. I plan on getting 2million. Not everyone realizes what Iraq has to offer other than just oil. Iraq has gold, silver, platnum and Coal. There are a lot of things to support the value of the dinar. Iraq is also debpt free! All the countries Iraq owed money to, that debpt has been forgiven. It may take some time for the dinar to reach it's peak but you can bet it will get there. We have all made a wise choice! As for if the Demo's get in office, they will not let this country fall. That will be a sure fire way to breed more terrorist groups and no administration is going to let that happen on there watch.

-- July 8, 2004 5:36 AM ∞

wisski wrote:

David, Iraq also has the 11th largest natural gas deposit in the world and the largest source of fresh water in the entire region. Bagdad stock exchange is open for business (ISX) and it seems like pepsico is going to buy Baghdad soda. As far as debt goes its the French that we are waiting on and Russia probably will not waive any debt so will see I hope my boat comes in with the Iraqi dinars I purchased here in Kuwait.

-- July 9, 2004 5:24 AM ∞

wisski wrote:

David, I forgot Iraq has volumes of dates and figs as well.

-- July 9, 2004 5:26 AM ∞

alex wrote:

I have recently come back from Iraq working out there for a logistics company. I was sceptical about the immediate boom in the iraqi dinar, as inflation would simply cripple the economy. However I did by 2.5 million simply to put away for my 40th ( 12 years from now ) if I make money fantastic if not it was one hell of an experience working out there..... Sitting back and waiting is the best option, iraqi's are hard workers and its going to take time, but as I said I am no rush.... but you've got to live the dream.

-- July 9, 2004 6:35 AM ∞

C. Champion wrote:

Those of you who believe the Dinar is a bad investment because of the uncertainty of the countries future, think back to what the Dinar rate was before the 1st gulf war. Even with a SOB like Sadam ruling the Dinar was valued at three times that of U.S. currency. I have my 2.5 million and wished I had more. Good luck to all those who dare.

-- July 10, 2004 12:36 AM ∞

Casey wrote:

I have been working "Law and Order: here in Iraq for the State Department and I need to say that this country is going to make it. I've never seen such hard working people. During my travels through the streets of Basra, and some of the provinces in the south part of the country, everywhere people are cleaning-up and rebuilding. These people have the attitude that will make things work. These people are unified and determined. NOTE: I do not gamble but during the last 6 months, I have watched things starting to happen and it is good. I have purchased 2.5 million dinar and I have a gut feeling (a cop thing) it is a solid investment. Investors will not be sorry!

-- July 10, 2004 6:41 AM ∞

DBP wrote:

Hey Mr. Anti-Arab,
Have you ever thought about even if Bush is not re-elected then Iraq is not gonna fall apart,we are talking natural resources, name me countries that supplies oil, etc., huh!

-- July 10, 2004 2:48 PM ∞

hi wrote:

yes there is very good chance iraqi dinar will go up and up in future.

-- July 11, 2004 9:33 AM ∞

Debra wrote:

I have purchased over 2 million in iraqi dinar. the only way for it to go is up. I believe it will happen in the near furture.
For all of those who invested....thumbs up to you. God Bless all you over there putting your life on the lines to make this a better place.

-- July 13, 2004 9:15 AM ∞

EW wrote:

casey - In reference to your post about customs, I am thinking about the same thing here in Bahrain. I plan on doing three things. Fedexing part of it, opening an NBK or HSBC bank account, placing some of it in my check-in luggage in an inconspicuous manner and possibly doing the same for carry-on. I am not sure what postal options you have with base facilities, however, I would just try to split it up somehow. I have heard via another post on another site where Kuwaiti customs took a large sum of Iraqi Dinar and gave the guy $38000 in return. The guy made out in the short term, however, in the long term he may have gotten the short end of the stick. Do you know anyone that you can MPS it to so they can Fedex it back for you? (Not sure how legal that is either, but an option none the less and I wouldn't just send that alone.) Wish I could help more.

-- July 13, 2004 9:33 AM ∞

Brian wrote:

All very interesting points. Here is what I have figured out: For those worried about taxes, any gains made when converting IQD to USD will be taxed at the current capitol gains rate, either short term or long term, and thanks to G.W. the long term rate will drop over time. I think it is currently about 15% for long term gains(over 5 years). XE.com has the current exchange rate updated daily, and the federal site has a listed exchange rate that they pay when governments exchange money. What I would recomend for those interested in dinar instead of speculation about the daily rate, research economic factors...availabilty of raw materials, national debt, policys of the central bank ect. discount the power vacuum that has drawn the insurgents in and, then decide if you would like to invest in the sucess of the people of Iraq.

-- July 13, 2004 11:45 PM ∞

Casey wrote:

EW,
I will be leaving in a few days..from what I understand, traveling with less than $10,000 USD or eqivalent is O.K.. I've spoke to a few people and they say they went through customs without any problems, but the money has to be declared when entering the U.S.

To be on the safge side, I will split it up. Thanx for the info..

-- July 14, 2004 2:23 AM ∞

Tony wrote:

I definetly think that the Iraqi Dinar will go up in the next five years. I have just bought me a million Dinars and I feel really good about my investment. Even if its only going to go up by a fraction I will be making good money. So in the mean time I am going to sit back and watch it grow.

-- July 14, 2004 9:43 AM ∞

stephen wrote:

From what I have read the important meeting to (hopefully) wipe clean Iraq's debt will be late October in Tokyo. Expect nothing in the way of appreciation in the NID until at least then in my opinion.

-- July 14, 2004 10:19 AM ∞

kbrad wrote:

To everyone thinking they will be rich overnight by amassing vast amounts of Dinar, stop now. I currently live in Iraq and it is an unstable situation at best. The Turks, Kurds, and Arabs must first get along and then rebuild the country together. There are many sins to forgive that many simply cannot. If you are a short term investor, put it somewhere else, Dinar is not for you. However, if you can stand to put some back and wait for years, possibly decades, then consider the ramifications. Before the first gulf war, the Dinar traded at USD 3.50 for 1 Dinar. Before the invasion in 2003, the Dinar still traded at .33 cents even with crippling economic sanctions in place. The Dinar now is worth roughly .0007 cents. Iraq has a long way to go before any return on an investment should be considered. Buy a few million, put it in a safety deposit box, and forget about it. In 5 or 10 years when the average Iraqi is riding around in their new Toyota or buying $4 latte's from Starbucks, wait longer. When tourists are flocking to see the cradle of civilization, opened for the first time in modern history to the average person, wait longer still. When you watch a special on T.V. about how Iraq with all of it's resources has flourished under an Islamic democracy, think about trading your Dinar in. In the time being, no U.S. bank will accept Dinar. There is no method to transport the currency back to Iraq. Air, rail, even postal service do not exist in Iraq. Banking, industry, and trade must come back on line before the Dinar can rise in value. When it does, it will do so slowly since the central bank will have a difficult time honoring the 4.5 trillion dinar cashed in by impatient investors. What might be the consequences however if you bought Dinar and held on to it? If you were to buy a million dinar at the current exchange rates on the ground in Iraq at 1400 to 1 USD, you will spend roughly $715 USD. If the Dinar were to raise in value to 1/10th of a penny, you would make $315. If it became worth 1 penny, you would make over $9,000 USD. If it went to pre-war levels of $3.50 USD, consider yourself very wealthy indeed with a nest egg of over $3 million USD. Make no mistake, this is an investment where you could lose all or part of what you put in. Invest what you can afford to lose and use Dinar as a portion of your overall portfolio of stocks, bonds, 401K's, etc. I personally will take a small gamble and bet on Iraq's long term future. Many will not invest in a "pipe dream" that sounds almost too good to be true. Those same people will laugh and say they were right and I have egg on my face if the Dinar never raises in value. To those people, I say you may be right. However if they are wrong, I will take the egg on my face poached and served to me by my butler with a bottle of 1959 Dom Perignon. Investing is always a gamble, sitting on the sidelines doing nothing is an even bigger one.

-- July 14, 2004 5:53 PM ∞

Velvet Revolver wrote:

We should all give ourselves a pat on the back for destroying the bandwith of the first forum unintentionally by packing it with so much info.

-- July 14, 2004 9:43 PM ∞

Blake wrote:

Kevin Brancato,
Hey man, no problem. We all understand why you had to close the other page. The huge response and continued discussion has exceeeded everyone's expectations.

What I will suggest to everyone who has been on the original page for some time is to remember Kevin if our investment pans out like we thinkk eventually will. Remember when counting the money we make that he graciously provided the forum that allowed us all to share the information and become more informed collectively their our cooperative efforts.

Despite the probable migration over to an actual message board that is being created as I speak, I know I won't forget Kevin and I'll be sure to send him a token of my appreciation if my dreams come true with this small investment.

So, let's keep the discussion going on this 2nd page for now, and hopefully we'll have the new message board up and running within a week to give Kevin's wallet a breather. But always remember where it all started. My Premature Thanks to Kevin....

-- July 14, 2004 9:52 PM ∞

Blake wrote:

sorry for the bad grammar above. I typed it quickly ;)

-- July 14, 2004 9:53 PM ∞

seattle wrote:

test

-- July 14, 2004 9:56 PM ∞

seattle wrote:

hey it works

-- July 14, 2004 9:57 PM ∞

seattle wrote:

hello fellow million dinar "ers" 10 million here,I am a ex kbr employee just back from Iraq am if i can answer any????? fire away.......P.S. jacki2000 rules

-- July 14, 2004 10:00 PM ∞

al wrote:

M&M,and Tony are you here.

-- July 14, 2004 10:18 PM ∞

Kevin Brancato wrote:

Blake,

The traffic you all have brought to my site is payment enough.

Your speculative winnings--or losses--are your own.

Keep me updated about the progress of the new bulletin board, and I'll direct my Iraqi Dinar traffic back to it.

-- July 14, 2004 10:24 PM ∞

Kevin wrote:

kbrad,

You speak as if you know all about everything, and with absolute certainty regarding what you commented on. First off, the US banks will honor Iraq dinar exchange in the near future. That is a fact. There has been a presential order allowing US citizens to invest in Iraqi stocks, real estate, currency etc...It will take more time coordinating w/ the international community to remove Iraqi currency from the restricted currency list here in the US caused by past sanctions. As I write this, many foreign investors continue to pour millions into the Iraqi stock market and investments in this country. Secondly, the Iraqi people will not & cannot tolerate a currency worth dog (*&%$#$@!) much longer. Just these 2 factors ALONE (not including the vast wealth in Iraqi resources & US/world financial backing)will create favorable economic conditions more in the short term, rather than your prognastication reaching into the year 2015. All the Iraqi people still holding their dinars that were valued at .33 US cents before this war MUST have it return to or close to this, as to create maximum incentive for Iraqi's to beleive in their new gov't & incentive to have any desire to defend their new found freedom. Anything else would breed an inevitable revolution, and the total collapse of this country. Believe me when I say, the political movers & shakers understand this COMPLETELY.

-- July 14, 2004 10:27 PM ∞

Kevin wrote:

In addition, If John Kerry was somehow elected (as much as I dread this), he would be commenting political suicide & his political career would be severely effected if he does try to quickly pull our troops out of Iraq, after several US soilders went their for this cause and after several lost their lives. Kerry would then be explaining to the numerous family members losing a son or daughter why they lost their lives for nothing, instead of continuing what they went there for. If Kerry is not thinking about this already, I'm sure he will be briefed countless times IF he beats Bush.

-- July 14, 2004 10:43 PM ∞

CAP wrote:

I think M&M went yacht shopping Blake......

-- July 14, 2004 10:45 PM ∞

m&m wrote:

What the ?!?!?!?

-- July 14, 2004 10:49 PM ∞

M&M wrote:

All that data !?!? This stinks. Kevin said we could post as long as we wanted to, poo!
That's was two months of research....

-- July 14, 2004 10:51 PM ∞

Blake wrote:

M&M,
The research is saved. Don't sweat it. go check the original page again. It's saved on a html page.

-- July 14, 2004 10:52 PM ∞

CAP wrote:

M&M, it is still there. Go back to the top of the old page and click on the HTML link.

-- July 14, 2004 10:52 PM ∞

m&m wrote:

Hope everyone finds their way ok. That little "more" wasn't much of a roadsign. I guess it was eventual after passing that 650 comment mark, oh well...

-- July 14, 2004 10:53 PM ∞

m&m wrote:

Whew... I'll take your word for it. Tony should be on around 11 tonight.

-- July 14, 2004 10:56 PM ∞

m&m wrote:

I last left off dreaming about a tropical island named Dinartopia... yachts, drinks with little paper umbrellas, and pearl divers...

Pearl Divers!?!

-- July 14, 2004 10:58 PM ∞

m&m wrote:

Any late breaking news since dinner?

-- July 14, 2004 10:58 PM ∞

M&M wrote:

I pulled the data from the IXS and laid it on a spreadsheet to play with. Looking for trends and big performers. I'm gonna try to track them and post whatever data comes out of it.
We also have to place a late call to Iraq to see how we can get involved with the ISX. Part of the problem I've been having is language...

-- July 14, 2004 11:02 PM ∞

Heather wrote:

I have to say I was a little thrown off on the switch to this continuation..but then again I had it saved to my fav.
This is such a great Forum.Thanks for the wealth of knowledge everone has contributed to it..It's funny even the people who speek negatively about the dinnar seem to have some sort of small investment in it (lol)

-- July 14, 2004 11:09 PM ∞

CAP wrote:

Iraq reconstruction projects pick up

www.myrtlebeachonline.com/mld/myrtlebeachonline/news/nation/9149082.htm

We are definately seeing a trend toward stories reporting Iraqi progress.

-- July 14, 2004 11:22 PM ∞

m&m wrote:

Heather == check this out !

http://www.goin2travel.com/islands.htm

-- July 14, 2004 11:23 PM ∞

M&M wrote:

Nice commentary by Blake -- Your right, hats off to Kevin for starting the blog and hosting us all for so long ! We may not have found each other without him :)

-- July 14, 2004 11:26 PM ∞

Kevin Brancato wrote:

Again, sorry for the change of venue, but each page load of ~1500 comments was hitting me for about 1MB of bandwidth, with about 1000 hits a day! If I didn't do anything the entire blog would have been shut down in less than 5 days!

I'll make sure to have ample bandwidth to handle the traffic, but at the current rate of commenting, I'll have to post a new forum every week!

-- July 14, 2004 11:28 PM ∞

m&m wrote:

Thanks Cap -- Nice to see things are picking up in the re-construction. I was awed by how much fire power they need just to show up to work. That's a really tough job all those folks at KBR are doing. They deserve every penny...

-- July 14, 2004 11:30 PM ∞

CAP wrote:

www.gulf-daily-news.com/Story.asp?Article=86448&Sn=BUSI&IssueID=27113

Trade tips for Iraqi bankers

Let the modernization begin!

-- July 14, 2004 11:31 PM ∞

Blake wrote:

A little editorial comment from a newspaper in California....very funny

http://www.venturacountystar.com/vcs/business/article/0,1375,VCS_128_3034960,00.html

I do like, however, how he readily admits the fact that people have made hundreads of millions of dollars on betting currency will go up or down. Man, is he going to be kicking himself for not taking a $500 flyer on the Iraqi Dinar!

-- July 14, 2004 11:32 PM ∞

m&m wrote:

Thanks Kevin!

We are just busy as bees...

-- July 14, 2004 11:32 PM ∞

BK wrote:

agreed!!! I really have appreciated all the ideas/information/ and fellow dreams that will hopefully come true for us all

-- July 14, 2004 11:33 PM ∞

m&m wrote:

I don't want to register :(
Blake, be a dear, and please paste the article for us :)

-- July 14, 2004 11:36 PM ∞

Heather wrote:

m&m ,

Where that sounds great to own a little slice of heven (island of our own) I don't think our investment of 2 million dinar is gonna get us there..but it is beautiful.

-- July 14, 2004 11:41 PM ∞

Blake wrote:

It seems to be just a little weekly "Dear Abby" of sorts for Finance Questions.

VENUTRA COUNTY STAR EDITORIAL
Dinars and all currency a risk
By Bruce Williams
July 14, 2004

Dear Bruce: You previously had an article in your column about the Iraqi dinars with the soldiers/civilians buying them. As soon as I threw the paper away, my spouse called from Iraq and told me he was buying some. My man wants to get on the bandwagon because everyone is doing this. Are these dinars going to be the huge hit everyone thinks? What is the downfall on this? Will they only be good for wallpaper? I told my husband I would send him your response. -- C.S., via e-mail

Dear C.S.: Speculation in foreign currencies is a treacherous road. Some have made hundreds of millions of dollars betting that a currency would go up or down. The problem with the Iraqi dinars is that many have been sold and resold to "investors" with huge markups. The chances of those people ever making a profit are very modest. Like many investment areas, currency speculation is fraught with problems, but there are substantial monies to be made. Would I speculate in Iraqi dinar given the instability in that country? Not on your life. A bet on a currency is a bet on the government of the country. Enough said?
END OF EDITORIAL ARTICLE

-- July 14, 2004 11:44 PM ∞

CAP wrote:

www.khaleejtimes.com/Displayarticle.asp?section=business&xfile=data/business/2004/june/business_june328.xml

Iraq prepares to issue first postwar debt

This is old news in a different format. But a couple of sentences stood out to me.

1.)The exchange rate fell from around 10 dinars to the dollar in 1991 to 3,500 just before Baghdad fell to US forces last year

2.)Iraqi officials were wise to resist the "shock therapy" approach to the Iraqi economy pushed for by some in the US-led administration, he added.

I had not read the U.S. was recommending a fixed rate over a float. And 10 dinar to the dollar? Where the heck did that come from? What happened to $3.20 to the dinar?

-- July 14, 2004 11:53 PM ∞

BK wrote:

I disagree with his reply. I would (and have) invest just for the reasons he stated. IT IS UNSTABLE. and that is the reason we are able to get in for so cheap. If you simply analyse risk and reward... this is a no-brainer.

For example:
Risk $1000 to buy approx. 1 million IQD
If it goes to a modest rate of being worth $0.25, you cash in with $250,000 for only a $1000 investment.

That is like buying in on Microsoft or IBM as an IPO.

-- July 14, 2004 11:53 PM ∞

BK wrote:

If the US does get what they want in a fixed rate, what will it be? and what will be the outcome of those of us who have invested in the dinar?

-- July 14, 2004 11:56 PM ∞

Blake wrote:

BK,
I think we all disagree with his reply. ;)

-- July 14, 2004 11:57 PM ∞

CAP wrote:

Thanks for that post Blake. A slightly weak argument from Brucey if you ask me. I think 75% of those on this blog with dinar could present a more educated defense if we were to try.

Good night all. Early day Thursday.

-- July 14, 2004 11:58 PM ∞

m&m wrote:

Ouch !
Maybe he's talking about the prices at Day Star Trading -- 555 usd to the dollar.

-- July 15, 2004 12:04 AM ∞

m&m wrote:

Very funny political cartoon animation

http://jibjab.com/thisland.html

-- July 15, 2004 12:06 AM ∞

EW wrote:

Casey or anyone - What value in U.S. dollars can you bring back before you have to declare it? And...You can still bring it in after declaring it right???

-- July 15, 2004 12:16 AM ∞

al wrote:

I think in time we all will be rich. Iraq will be known as a country that said no to dictaters and
terrerists. Iraq will a model for the troubled Mid-East.

-- July 15, 2004 12:17 AM ∞

al wrote:

EW the amount is $10,000 US.

-- July 15, 2004 12:20 AM ∞

chad wrote:

Stacey I know who you are, and I know where you work. So don't try to BS me, and yes KBR is paying you to chat.

-- July 15, 2004 12:20 AM ∞

Ha wrote:

I have a question.
Has anyone looked at National Bank of Kuwait's Exchange rates?
(http://www.nbk.com/NBK/TopBar/Rates/rates.htm)
The 'selling' column says .0002370.
Now since the dinar is selling at auction right now, and if i assume this is an auction price then, the 25k is selling at auction for???? Or am I missing something? Can anyone explain this to me?

-- July 15, 2004 12:20 AM ∞

tony wrote:

i was wondering what the hell happened to our forum lol

-- July 15, 2004 12:31 AM ∞

tony wrote:

damn most wana put there kids thru college and pay off there house,yall crazy mofus wana buy islands and air strips..lol

-- July 15, 2004 12:32 AM ∞

tony wrote:

HA,the iraqi dinar on there site is going for 1239 not .00002370

-- July 15, 2004 12:33 AM ∞

EW wrote:

Kevin Brancato - Thank you for giving us the opportunity to save the previous archived file. Lots of good info. Would have hated to lose it. THANKS!!!

-- July 15, 2004 12:39 AM ∞

Ha wrote:

I know that Tony:}
But can you tell me what the other columns are for?

-- July 15, 2004 12:44 AM ∞

jules wrote:

kbrad,
i'm with you on the poached egg!!
M&M
thanks for picking up the island idea, as i read over and over in the comments--anything's possible!
heather,
shoot for the stars, 2mill dinar may do well
amer is great, hey?

-- July 15, 2004 12:47 AM ∞

al wrote:

I saw a nice little house I would like to buy with
my dinar when exchanged. It is in Jamica

-- July 15, 2004 1:06 AM ∞

M7M wrote:

Hi Jules -- All you need is a Dinar and Dream...lol :)

-- July 15, 2004 1:16 AM ∞

m&m wrote:

too tired...can't type...can't see keyboard =(

-- July 15, 2004 1:19 AM ∞

tony wrote:

you sound like homer simpson lol

-- July 15, 2004 1:31 AM ∞

Jerry wrote:

Man the blog juss stopped... and you all left me...
I'm fileing abandonment charges tomm...:P

-- July 15, 2004 1:39 AM ∞

al wrote:

Seems like things start hopping around 3 a.m.

-- July 15, 2004 1:43 AM ∞

Jerry73 wrote:

I cant belive my post on portal Iraq "Iraqi dinar may appreciate" now has over 3000 views... That just goes to show how many people are checking this.

-- July 15, 2004 1:48 AM ∞

al wrote:

That is alot of hits. What is the address I would like to read it.

-- July 15, 2004 1:51 AM ∞

tony wrote:

but out of 3000 only 1 person replied..lmao

-- July 15, 2004 1:51 AM ∞

minigirl wrote:

No TV and no beer make Homer go crazy.... lol

I'm just wondering if anyone's decision here about the election has changed since they invested in the Dinar. Now that I have a stake in the success of Iraq, I'm wondering if there really is only one 'right' way to vote. lol

Jacquie

-- July 15, 2004 1:52 AM ∞

tony wrote:

only 12:52 here,think im gona pop in some disturbed and see if people make some noise on here

-- July 15, 2004 1:52 AM ∞

tony wrote:

im the last person to get political,but where does kerry stand with iraq and whats going on?

-- July 15, 2004 1:53 AM ∞

tony wrote:

Al-Iteman Bank has just been added to the stock exchanged opened at 7 dinars a share.

-- July 15, 2004 2:00 AM ∞

tony wrote:

The U.S. Agency for International Development (USAID) has announced the selection of a multi-million dollar Iraq Basic Education contract - otherwise referred to as the Education II contract - to Creative Associates International, based out of Washington, DC. The contract award provides funding up to $56.4 million over the next 24 months.

The Education II contract will focus on providing technical assistance to the Ministry of Education and empower its personnel to deliver quality education in Iraq.

The contract will specifically focus on enabling the Ministry of Education to conduct institutional capacity building of the Ministry of Education; to create model schools in each of the 81 sub-districts; train primary and secondary school teachers; procure supplies and equipment for school children of Iraq and promote and facilitate community participation in the quality of early childhood education


thats incrediable 56 million over 2 years wouldnt be suprised if teachers from here go and teach in iraq for more money

-- July 15, 2004 2:02 AM ∞

matt wrote:

Question:

I am going to start buying dinars. I have read the many posts and plan on using either portaliraq.com or ebay users (dima89, jaki2000, or j.b. trader) to buy dinars. I am still unsure of just how many. I am a college student and can only really afford to spend about $200.

My question is this:

Which way of purchasing Dinars would you recommend (see option above)?


I can have them FedEx to my house right?

Is there going to be a problem with them Fedex'ing that much Dinar? Is it safe? Does it go through any customs over there or over here?


THANKS!

-- July 15, 2004 2:09 AM ∞

tony wrote:

http://www.aljazeera.com/cgi-bin/news_service/middle_east_full_story.asp?service_id=2668 small article on t-bills

-- July 15, 2004 2:10 AM ∞

tony wrote:

no problem with fedex'ing it,only thing with j.b trader make sure he actually has the stuff in stock i heard he doesnt really have what he claims and some people ended up waiting a long time bro

-- July 15, 2004 2:11 AM ∞

al wrote:

Dima89 has several packages under $200.I have purchased from him several times and was pleased
with the service.

-- July 15, 2004 2:18 AM ∞

minigirl wrote:

yeah, JBTrader emailed me just a few days ago telling me that he didn't have it in stock. IMO he shouldn't have auctions up for what he doesn't have in hand. I've used Jaki2000 (real name is Fikri Kawar. He's in Amman, Jordan. He is one of the few international sellers that'll take a credit/debit card. He has you check out using the shopping card he has on his website where he sells local art, etc. It worked out great.

-- July 15, 2004 2:30 AM ∞

matt wrote:

I think I will do the Ebay "Buy It Now" option for 125,000 dinar (to start)

I cant find the purchase/order page on Portaliraq.com???

-- July 15, 2004 2:31 AM ∞

minigirl wrote:

oops. I meant to say the Shopping CART. Cart. heh.

-- July 15, 2004 2:31 AM ∞

OUFAN wrote:

Hi to all!!! Glad to see Tony, M&M, and many of the others from the old board on here and glad that I found my way back to this Dinar Think Tank.I am learning more each day just by keeping up with your posts. THANKS TO EVERYONE!!!

-- July 15, 2004 2:43 AM ∞

OZ wrote:

I just started reading. Great info and thanks to all those out there posting any info they may get. Every little bit helps.

Oz

-- July 15, 2004 4:34 AM ∞

Henry wrote:

I'm baaaaack. I don't say much, but I'm always here, reading. I'm not an authority and I didn't sleep at a Holiday Inn last night. Just think its better to stay silent and have people wonder how dumb you are than to open your mouth and remove all doubt!lol

That being said, I have over 3 mil nid, waiting on my last mil fron Amer.

See you in the islands...

-- July 15, 2004 4:45 AM ∞

Henry wrote:

Oh, I do open my mouth when I have info that no one has posted yet, but that's rare, lots of intelligent and dilligent people on this site.
(sure wish we had spell check)
Henry

-- July 15, 2004 4:48 AM ∞

Copedawg wrote:

Jerry
is my generator still running good?
if not, Clare is the one to see. he is pretty smart when it comes to them. I am relaxing at Walter Reed...and yes I will drink a real beer for you.Copedawg out

-- July 15, 2004 5:39 AM ∞

Jerry wrote:

Tony said,
"but out of 3000 only 1 person replied..lmao"

What was there to reply about? I made a statement. Hell you wouldont be rambleing on about the ISX if I hadnt posted it any way now your the "subject matter expert" pfffft yeh right.
Suppiez Copedawg?! I'm happy to hear your o.k bro. I'm still at Arifjan same same. I,d say more but you know the security thang and all.... Take care man
Jerry

-- July 15, 2004 6:07 AM ∞

BRYAN THE A/C MAN wrote:

I,M PURCHASING ANOTHER 2 MIL TODAY FROM IRAQPORTAL FOR 1085.00 PERMILLION 5-8 DAYS DELIVERY GO IRAQ !!!!!

-- July 15, 2004 6:16 AM ∞

Jerry wrote:

Al here ya go..

There is a chance to make a little money off purchasing Iraqi Dinar. Speculation like the stock market drives prices... When the Dinar is released on the world market the speculation at exchanges will definatly drive the price up. As demonstrated in January when the dinar went 1000 to the dollar. How high would it go up globally? Who knows.. but definatly not near its worth in natural and capital resources.

Iraqs Per Capita income is $400.00 Do you think it will still be $400.00 in 10 years? If you think yes the you might want to look at the more democratic states in the surrounding Gulf Region... Kuwait, UAE, and so on.

Another thing to think about is The Central Bank has allready started selling Dinars. The banks governer said that it helped double its foregin currency reserves to $2.4 billion.

Me personally I invested in the Iraqi Dinar when it was $1000.00 bought 100,000,000.00 Iraqi Dinar. In the ammout of 50,000,000.00 NID

But then again I live in Kuwait and have am working on getting an Iraqi bank account. I suggest all parties interested do the same.

Presidential Order 13303 allows you to do so. "U.S. citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Buisness in Iraq."

True it doesnt say anything about banks or having a bank account... but stocks!!! Stocks require a bank account and if you do a little reasearch you can find existing private banks who are brokers for the Iraq Stock Exchange, and their contact info. I did. The idea here is to put a lil in stocks then have the bulk of the cash idle in the account as the economy grows. Unless you want to actually invest in the stock market... thats a whole other subject that makes money, I'll give you a little taste..

Baghdad Soda Company is listed on the "ISX" its not really even moving as the stock exchange in Iraq is about 10 days or so old (just reopening). Lots of web sites list the contracts won and whos bidding on them. I know for a fact that Coca Cola is bidding on Baghdad Soda Company but is hesitant on doing any thing because of the security. If you were to buy shares now and then later Coca Cola buys them imagine the money you make?!

I suppose the Key Word there is "Security"... Well if you been reading the news you might have been hearing the answer to that problem.

Two words... "Martial Law" look it up in history and get a general idea of it. Youll come to find out its pretty effective. Its only a matter of time...
Jerry

-- July 15, 2004 6:18 AM ∞

Dan wrote:

Here we go, let's give it a try..

I have set up a new fully featured forum on http://www.investorsiraq.com/

I invite you all to register and have fun. I really hope this will help us disscuss investing in Iraq in a more efficient way!!

Let me know what you think,

Dan

-- July 15, 2004 6:24 AM ∞

Jerry wrote:

correction to that post...
"Pepsicola signed a contract with Baghdad Soda Company september 23rd 03 and are hoping to employ 2000 plus Iraqis over the next several years.

-- July 15, 2004 6:26 AM ∞

tony wrote:

jerry get real bro wheather you posted it or not eiter I or someone else would have found it bro not like you broke into some government computer and stole clssified stuff,i mean look at this board you can post askin the simplest of things and get 20 replies easily im just saying that board is a waste theres no traffic and if you dont like my rambling on,then dont read what i post lol

-- July 15, 2004 6:31 AM ∞

tony wrote:

hey guys try out dans website it looks sweet,and with this format he has many will get there questions answered im signed up there has my name here tony,jerry you know i screwen with ya man lol

-- July 15, 2004 6:45 AM ∞

tony wrote:

http://www.rebuild-iraq-expo.com/news_details.asp?id=380 60,000 iraqi people employeed now,this is good for the economy

-- July 15, 2004 6:55 AM ∞

Jerry wrote:

It has a hit meter though... so that tells me 1 of 2 thigs...
1. Alot of people have the NID and are watching
2. Alot of people want the dinar and are extreemly curiuos.
Which kind of foreshadows the whole "Speculation at the open driving price."
Hell if I would have sold at the open when my LGF stock was being pumped by the Farenheight/911 movie I could have made a smooth grand in 3 days.

As for breaking into computers... lets just say I came a long way from vb c++, Back on AOL 2.0 when nukes actually worked. Even though most of my friends abandoned me and went with unix or linux, I chose to stay in the windows os area.
Also those people who are in the middle east out here have a bit more edge on info than you all Fox News watchers back at home.

-- July 15, 2004 6:58 AM ∞

tony wrote:

i dont like fox news lol

-- July 15, 2004 7:01 AM ∞

jack wrote:

Jeez guys, blew up the bandwidth did we? Be prepared to do this again, too many people tuned in to this little saga! Anyone on the ground know what prices for goods and services the Iraqis are paying currently. Price fixing can't last forever, I doubt the powers that be will allow inflation to swamp the Dinar's value at opening. Sooo many variables we're trying to figure out.

C'mon Dinar!....

-- July 15, 2004 7:40 AM ∞

Dan wrote:

Jack try http://www.investorsiraq.com

-- July 15, 2004 7:43 AM ∞

Jerry wrote:

Mahdi wants 95-100% cancellation

Adel Abdul Mahdi, Iraq's Finance Minister, told Gulf News on Monday: "We are asking for some major forgiveness, to wipe off at least 95 per cent of the debt or 100 per cent. We will have hard discussions with the IMF and the Paris Club in the coming months," he said. We are hoping that by the end of 2004, an agreement will be finalised in favour of Iraq and that the country will be cleared of the huge debt that according to Paris Club figures is about $120 billion."

-- July 15, 2004 8:24 AM ∞

tony wrote:

i read most are willing to forget the debt,as long has they are given contracts to do business in iraq and only

-- July 15, 2004 8:33 AM ∞

Jerry wrote:

Abassador Rahim says aid low and debt demands high

The LA Times reports that only about $1bn of the $13bn pledged to Iraq at Madrid last October has actually been given to the UN and World Bank funds established to manage it. Rend Rahim, Iraq's ambassador to the United States, said the aid "is much, much lower than what Iraq was promised.... We shouldn't be set adrift, on our own." She also told an audience at the American Enterprise Institute in Washington on June 29 that "so far, we do not have any serious pledges for the reduction of Iraqi debt." She criticized countries that have been unwilling to forgive more than a small portion of the debt, saying that the creditors "really want their pound of flesh."

World Bank economist opposes deep cancellation

"If 98% or 100% of the Iraqi debt is simply canceled, then it may be seen by other middle-income countries like Turkey as a kind of unfair treatment, in the sense that they also have a lot of debt and find it very difficult to live with that debt," World Bank Chief Economist Francois Bourguignon said at a press conference in Tokyo.

Foreign Minister Hoshyar Zebari met with Romanian Foreign Minster Mircea Geoana today. Speaking at a news conference, Geoana said the Romanian debt claim was about $2.5bn. This is a significant increase on the $1.7bn figure which was quoted in April 2003. A small increase might come from interest over the last year and from the devaluation of the dollar (depending on what currency the Romanian claim is denominated in), but the increase of almost 50% is worrying.

Geoana said "It's is important to understand that for the short run, the Iraqis will need all the resources they can get," and he said "creative methods" for dealing with the issue are needed, such as boosting Romanian investments in Iraq, or the import of Iraqi oil. Zebari said that there is agreement that the solution should come through the Paris Club of creditor nations, but that Iraq will need "postponement (of IMF demands $80m from Iraq

The IMF spokesman Thomas Dawson said the Fund will recognition the interim Iraqi government and push new loans provived Iraq pay it $80.5m in outstanding claims.

At Madrdid last October, then-IMF Managing Director Horst Koehler indicated the IMF could make loans of $2.5 billion to $4.25 billion to Iraq over the next three years. The World Bank, has indicated it is prepared to lend Iraq between $3 billion and $5 billion over the next five years.

Dawson refused to confirm published accounts that the IMF's recent report looked at various levels of debt forgiveness, from 67 percent to 95 percent of the arrears. "The scenarios don't contain any recommendations for a particular level of debt relief," Dawson said. "That is a decision for Iraq and its creditors."
June 29, 2004
Saudi & Kuwait demand reparations

Reuters reports that at the UNCC meeting Kuwait and Saudi Arabia continued to call for their pounds of flesh.

Turki bin Nasser bin Abdulaziz, president of Saudi Arabia's meteorology and environment department, declared: "Iraq has the ability and the means to compensate for all of the damages it inflicted on the claimant countries," and failing to hold an aggressor fully accountable would set "a dangerous precedent." Saudi Arabia is seeking more than $28 billion for damage to its environment caused by Iraqi troops setting oil wellheads on fire as they fled the US-led coalition in 1991.

Khaled Ahmad Al-Mudaf, chairman of the Kuwaiti body assessing compensation claims, told the UN commission there should be "no delay or interruption in the receipt of funds". He said he was confident Iraq would abide by the Security Council resolution.

Jubilee Iraq was protesting outside of the UNCC meeting.

-- July 15, 2004 9:01 AM ∞

fsm75 wrote:

The new forum looks great but it is somewhat cumbersome to navigate. Is there a way to see all the contents of the thread at one time?

-- July 15, 2004 9:31 AM ∞

EW wrote:

Dan - I appreciate the effort, however, what makes this board so successful is the fact that like M&M said in an earlier post. We don't want to register, signup or any of that. Yes we want to post anonomously...Until everyone leaves this board...I am commited here.

-- July 15, 2004 9:31 AM ∞

fsm75 wrote:

EW:
The registration process only requires a username and password, which is exactly what you are doing on this board.

-- July 15, 2004 9:46 AM ∞

tony wrote:

the sweet thing is if you have a pirticular quesiton it will get answered cause theres different catigories for everything here alot of the questions dont get noticed

-- July 15, 2004 9:47 AM ∞

EW wrote:

Kevin - Whether you are using ASP or Perl I am sure you are good at what you do. I use ASP because I don't currently have my SGI running IRIX to work with Perl all that much, however, I can think of only two possibilities to cut down traffic:


  1. Set cookies somehow so that when a person visits, they only see the posts they hadn't seen before with an optional like to view all posts.
  2. Display only X number of posts, say 20, with the option of viewing all posts for a day and then "archiving" the posts weekly and putting a combobox on a small top frame or on the page itself to list all the "archived" weekly posts.

    Now the thing here is this: I assume this is driven with a database rearend. If so, you wouldn't actually be "archiving" anything, you would just be modifying the query to pull the applicable data.Just my two cents!!!

    I love the format of this board the way it is, however, I understand the concern as far as bandwidth.

    Don't worry, once the dinar starts creeping up in a couple of years...You will be able to purchase a dedicated T-1...LOL...;>)

-- July 15, 2004 9:48 AM ∞

EW wrote:

Oops:

Paragraph 1) should have read "with an optional link to view posts."

tony - Most questions will get answered if they are serious and ask them again. I just don't like having to click each sub-category to get up to speed on the latest info. I think it is inefficent for us as a whole.

This is my routine. First thing in the morning I logon the the net and click this link, I continue preparing my morning coffee and come back and I can read it like a newspaper (even better because I just scroll down while sipping my coffee.) I read EVERYTHING where as with the sub-categories I have to click and wait for each page to download because I don't exactly have a cable modem out here in Bahrain and I suspect that many of our posters from IRAQ don't have a fast connection either, each time I have to click a subcatergory, I have to wait for a brand new page to appear which cuts my available reading time in half.

This is only my opinion and I love the board the way it is.

Great forum for us...Heck...I wich the intelligence agencies would consider such a forum...LOL

-- July 15, 2004 9:57 AM ∞

EW wrote:

Errr...."I wish the intelligence agencies..." NOT "I wich..."

-- July 15, 2004 9:59 AM ∞

EW wrote:

fsm75 - I have never supplied a username or password for this board. I came across it in a search and posted freely ever since...Maybe to the regret of you all...LMAO!!! :>)

-- July 15, 2004 10:02 AM ∞

EW wrote:

I guess the reason I love it is because it follows the KISS method.

-- July 15, 2004 10:04 AM ∞

fsm75@aol.com wrote:

EW:

I understand what you are saying about having to wait for each page to download. I do find the old board to be easier to deal with in that you can quickly read every thing with just one download of the page. But, remember you do have to refresh to see anything that is posted after you complete your first load. However the new board is effective in that you can easily read new posts without having to find where you left off.

We would love you have you join us on the new board. Your