Iraq Dinar Speculation

what does this mean????

I heard a rumor that India was starting to exchange the dinar’s. This is just a rumor though, there wasn’t any back up that was provided from the source regarding this rumor.

Does this mean that large notes might not be honored when a reval goes into effect? Should we be worried about trying to get larger notes cashed in if a reval comes or is this just to help the people of iraq have a good start at getting a good deal for their larger notes out of the way first..

what is considered a large note??

The vendor from which I purchase dinars has told me that exchanging large notes for smaller denominations, if done, would be neutral, i.e., the purchaser would have the same value in dinars except there would be a larger number of the currency becuse of the smaller denominations.

Adam, I hope you received my email. Please let me know if you have any questions.

(It came from the cbi email server, be sure to check your spam folder if you do not know what I am refering to.)

When will this be over and RV?

The American Contractor Blogger has already debunked what medic said he has confirmed…The TENTS are not there and no one is exchanging anything!!

Adam get a hold of AC he knows and has better Intel!!

Short URL Mailing list
http://tiny.cc/mailing_list

Web site
http://tiny.cc/ac_web_site671

I live in the Middle East and I’ve heard the rumors regarding a wholesale change of currency and of issuing smaller denomination notes but I haven’t heard anything regarding tents being set up to exchange the large notes for smaller denominations. When I recall the massive security measures undertaken in 2003 when the CPA converted to the New Dinar I find it highly unlikely the Iraqi government would now resort to exchanging currency in tents. In 2003, 747’s were chartered for hundreds of flights to deliver the currency from De La Rue’s factories to Baghdad. The currency was delivered to US Army bases throughout Iraq by Army personnel in armored vehicles and was heavily guarded by US troops at all times. From there the notes were delivered to the banks in heavily armored vehicles with convoys of US Army escorts. Once the currency was delivered to the banks the actual conversion process took three months and required a constant US Military presence at every single bank authorized to issue the new notes. The entire undertaking was a military operation that lasted many many months. Today the security situation in Iraq is arguably worse than it was in October 2003 when the New Dinar was introduced. Therefore, the security risks in today’s environment would be extremely high and people would probably just stay away for fear of their lives. I would be absolutely shocked if this rumor turns out to be true.
They could easily accomplish an exchange in an orderly and systematic manner by simply exchanging the notes as they pass through the banking system in due course. Of course the banking system isn’t as highly developed as in other countries and many Iraqi’s don’t even have a bank account. However, this would still be the safest and easiest way to exchange denominations over a reasonable period of time. It would also serve as a possible means to get those unbanked Iraqi’s into the banking system. This is extremely important point to further build trust and credibility in the banking system that is still badly lacking.
I also discount the rumor of another wholesale change of currency in the foreseeable future. When the New Dinar was produced it featured the latest and greatest in anti-counterfeit security measures. It is extremely difficult to counterfeit this currency. Counterfeit Iraqi currency is still a primary concern today. Converting to a new currency is also a hugely expensive undertaking. I highly doubt the government would decide to such an undertaking just six years after the last currency exchange given the current security risks and economic environment. By the way, it was the US taxpayers, not Iraqi’s, who paid for the costs of the conversion to the New Dinar in 2003. It is believed to have cost US taxpayers several hundred million dollars to convert to the New Dinar. Therefore, I highly doubt the Iraqi government would be willing to incur those kinds of costs today, on their own account, when a simple conversion process carried out through the banking system over a reasonable period of time to convert to smaller denominations would be far cheaper, more effective and safer.

The tents are there, but are for the end of Ramadan celebrations. There’s an article the specifically mentions tents around town for the event. Just because one person says they aren’t there, don’t believe him. AC is a very pessemistic person and should be seen in the same light as medic. Do your own research and back up stories with factual based articles coming from Iraq itself, not from one person saying it.

For the record:

I’m not disputing that there were tents anywhere. Apparently Medic took offense to my article and even bashed me for giving out a link to free forex software.

Unlike many sheep out on the web, I do not take any one person’s word as gospel. News like this needs to be confirmed by more than a “guy at a bank” who must remain unnamed for some reason or another.

What STILL has not been confirmed is this part: “… to exchange large Iraq Dinar notes for smaller denominations.”

The email that many of you received went out to over 10,000 list members. If any transactions or exchanges were being made, surely one of the members would have been able to confirm.

I believe we can safely say that no exchanges were being made, and whoever the “intel” came from is either mistaken or lying. Thank you, everyone, for all the thoughtful comments.

Mark, I believe a 25,000 Dinar note would be considered large.

The whole premise of a revaluation is to bring the Iraqi Dinar closer in value to the USD, or even the Kuwaiti Dinar.

Can you imagine carrying around a single bill worth $25,000 U.S.?

Mohammed, I got your email and I’m excited to be part of this! I will respond to you in private.

To say that security is worse now than in 03 has got to be the most ridiculous statement I have ever heard

I am sure all these 25000 denominations are going to be withrawn. I now realize that I have made a mistake of buying such big denomination. To those who hold the ID of 25000, you have lost what is considered your big dream……forget about it.

I worked in Iraq for 3.5yrs. what i can say is that as of Oct. 1st all U.S. dollars will stop being used as the primary currency.there has been a 3 month transitition period to switch over to the use of dinars in Iraq. locals and military will all pay in dinars for all purchases.this is a good sign.when the oil contracts in dec. are finalize,the oil laws are complete,the santions are finally lifted,the new elections in jan.2010 gets going,and so much more infrastructure falls in place,.then the value will start to increase.I am guessing 6months to a year after the elections that the dinar may start increaseing.Follow the political situations of Iraq and surrounding countries to see where thier future is going and then you can speculate on when things will fall in place

I concur and support every comment written by BRAD, on September 22, 2009….indicating that the ‘tent’ rumor was far fetched and has no practical substance in fact.
Chasing a rumor like this one is a waste of time, energy and thoughtful pursuits.

First Adam, Thank you for this wonderful forum to express ourselves without fear of being “Banned” and the other information you provide.
Now, as to the tents in Iraq..Yes they are being set up around the Market Places in several cities in Iraq. That is a fact. What are they for? Here is what everyone is missing trying to micromanage and get their egos satisfied. During the reign of Saddam, his two sons raped the country financially by regularly raiding the banks and taking all the money. Most Iraqis don’t trust the banks even now. I personally have talked to several Iraqi Nationals here in the USA as well as Contractors and military personel home for a vacation or rotation of duty. All have told me that the US Dollar is the currency of commerce in Iraq. This has happened because the Sadam Currency was confiscated and destroyed after his overthrow and the New Iraqi Dinar(NID) was printed and distributed but concurrently it was devalued by the IMF-the financial arm of the United Nations. It literally has no value. The US government infused a large amount of USdollars to help the CBI-Central Bank of Iraq – stabalize the financial situation in the country and restore faith in the Banking system. Plus, US Military and government Contractors were living and working in country and started spending their US Dollars in the economy.
Now Iraq is stable financially and the NID is about to be revalued and the government wants it to become the Currency that replaces the US Dollars to buy and sell products and services in country. Heres the problem…How do we get the US dollars out of circulation? The common Iraqi citizens don’t trust the banking systems yet hence Al-Shabibi, the President of the CBI and President Al-Maliki have come up with a simple process to remove the US dollars out of the system and replace them with the NID. Set up local Money Changer tents in the market places for the citizens to bring in their US dollars and exchange them for the NEW LOWER DENOMINATION bills and coins.
This exchange is exactly the opposite of what we here in the USA will be doing. Before I continue with this explination, you all must remember that a few months ago, the Government of Iraq had a massive recall of all the three(3) zero(000) NID currency and made it illegal to own or possess any of the large denomination bills. It was announced by the CBI that it had successfully collected most of the $25,000 and $10,000 Dinar Bills. Therefore, the Government of Iraq wants their Dinar to replace the US dollars so it has set up these tent manned by Local money changers who will make a profit obviously and are exchanging the peoples US Dollars for the new lower denom bills-1’s, 5’s, 10’s and 25’s – that have a higher value than the US dollars. It is a natural, simple way to remove the US dollars out of circulation. Remember, as of October 1st, it will be illegal to use the US Dollar as legal tender in Iraq. KISS – keep it simple stupid…is the thought here. The iraqi walks into the Exchanger tent, lays down his US Dollars and gets, say, 3 or 4 Dinars for every dollar. Walks out and his dinar is now valued higher and will buy more than the US dollar he had before. Simple. Of course there will be problems and glitches but WTF, it is what it is. Now a few days later, no more US Dollars will be accepted and will be worthless in country. What about the Contractors and Military? If they hold Dinar, just like you or me, they will be able to go to a bank and exchange their Dinar for US Dollars or whatever currency they choose. I’m sure our government will set the rules so they get their “cut”. Again, don’t micromanage this thing just understand the overall process and accept it. I’m sure you have a hundred questions right now but this is what it is. I don’t know the rate or timeframe of us being able to exchange our millions of Dinar here in the USA but it is going to happen real soon. Just keep your mouth shut and quietly become wealthy. You think it has been hard and painful waiting for this event to happen? Wait til you have all that money, the real pain is about to begin. Be smart and wise and enjoy life and thank your God!

Rumor:
My friend station in iraq told me that the us military as of oct 1 will get paid by bcheck in us dollars would that make any difference

What information do you have in regards to the Vietnam Dong, and the RV?

Mstt is absolutely correct. The tents appear not only in Iraq but throughout the entire Middle East during the Holy month of Ramadan. They will all be gone in the next few days as the holiday of Eid Al Fitr, a festival to mark the end of Ramadan, comes to an end. The tents will appear again next year when Ramadan comes around again.
If there was any exchange of currency taking place it would be huge news and we wouldn’t be having any difficilties finding news articles to support it. There won’t be any top secrect, special “intel” needed to know when/if this event will take place in the future.

I am one of those soldiers that was in IRAQ in 2004. I invested in the Dinar back then as a possible greater investment in the next 5 years. All this talk about a new currency has had me a little troubled. I can not for the life of me see how Iraq can afford to come up with a new currency.
What I am looking at is opening a checking account some where in Iraq to safe guard my dinar. Any suggestions????

Would someone PLEASE tell me if Chapter 7 has to happen first before the RV?

I have heard yes and no sooooo many times and would really like a correct answer.

Thank you for anyone who can give an honest answer

I am curious, At the exchange large dinar for small denominations. What is going on?? I need to know any facts on exchange so I can either open an acct with Warka bank or find a way to exchange for smaller dinars.
Does anybody have any FACTS I need to know????
Also any facts on means of exchange???
perfect@Alaska

I was just about to purchase uncirculated large bills of $25 k and $15k and I am glad you have informed me in good timing. I am not going to buy. What do you think?

HA You silly Americans! You think my fellow countrymen will be handing our money over to you! Ha i spit in your face! We have always plan a incountry Exchange…as we have done in past!!

To think Boarish Americans think we make you rich HA!

Hello Adam,

I support what you did. I see noi wrong in your emailing of a free forex site. What you have here has been here for many months. You proved something to a possibillity of being different than what had been said. I applaud you for that. I applaud American Contractor for what he does. I think all should have a input and not be dictatored into what they have Invested in.

The Tent Article was place on our forum right after Okie the OilMan and SFMedic at the same time on different Chats said what they were told. Who they were told by, means nothing to me and is or was just a rumor. This was the reason for putting those two Chats side by side as quoted together with the TENT artricle.

You mention sheep. That is a so true word that has been enbeded in this simple Investment. I wish you well on your Journey and really sorry about you being banned. At anytime, you are welcomed at you know where..

Neno
.-= Neno´s last blog ..From HonestJohn =-.

I will Make our membership aware of this for commenting too..

Neno
.-= Neno´s last blog ..From HonestJohn =-.

How about 25,000 IQD and 10,000 is its valuable

There seems to be many conflicting reports on this one, one person is still saying that some of these tents are for exchanging higher for lower. I still do not know what to believe? this person is still under the impression that the r.v. is still about to happen and the banks are gearing up for it. What is everybody else thoughts. I am not very knowledgeable on all this, I am sure many of you have a great deal more info than me.

Mike,
I am actually in Iraq. I have not seen any tents for exchange of the DInar. It does not mean it is not happening… just that I do not see it. As for the reval: It is all speculation… the ones who do know aren’t saying enough and the ones who do not know… are saying too much. Keep an eye on the “News” and a level head. All we can do is keep grinding out the rumors until the reval. Right?

Just like always i keep hearing conflicting reports. Sounds like people are saying the large bills are not worth anything!!!

I am in Iraq and I don’t see the tents or anyone here talking about it.

I agree with NENO and I applaud American Contractor who ever he is as he always gives sound info and it’s always logical and just makes sense.

I just wish he would post more info..

At the moment, large Iraqi Notes are worth just as much as they were yesterday and the day before.

This speculation is stemming from the false rumor that tents were set up to exchange notes. No notes were exchanged, I have confirmed this with a contact at CBI (Central Bank of Iraq, thank you Mohammed.)

To recap – nothing in this article should encourage or discourage you from buying or not buying Iraqi Dinar. Nothing major regarding the Iraqi Dinar has occurred in relationship to this tent rumor.

Lana: We don’t know if Chapter 7 must be lifted, it could go either way.

Neno: Thank you, feel free to post relevant links to articles on your forum here if you wish.

Mike Rubaiy: It’s a gamble, we all know that. Don’t risk more than you can afford.

gottabme: You are welcome, thank you for the well thought out post! So many forums on the net, especially the popular ones, discourage free speech because they are pushing an agenda. Feel free to join http://www.dinarvets.com, free spech is welcome there as well.

Buy on the Rumor
Sell on the News!

i would like to say a few things, first chap 7 hasnt officialy been lifted, second, there were tents throughout baghdad for there holiday celebration. third, people dont be concerned if they are exchanging large notes for small, it means nothing for us, and if people are concerned with (getting screwed) dont, iraq will not screw anyone, they cant, if they were do you think our u.s treasury would of been there 4 times in the last 3 months? answer is no!! if iraq were to dupe us they would have no allies, only enemies, and after saddam thats the last thing they want, and my last thing is dont believe anything that american contractor posts, they are claiming no tents, i saw the tents on cnn and fox. american contractor has never and i mean never been right about anything!!!!!!! this will happen and soooooon!

Frank, I believe I said “Today the security situation in Iraq is arguably worse than it was in October 2003 …..”
Check out the facts and decide for yourself http://www.iraqbodycount.org/database/

Where are we suppose to trade in the larger bills for smaller bills?

Why thank you Adam. But most know where the DinarTrade.com board is. If not I appreciate that exposure to NenosPlace.com I would like to say
that if you purchase Dinars from DinarTrade,
mention Neno or NNP for a discount on me. You
do not have to be a member of our board for that.

Neno

Hello Sonny1

Do not be so sure on Iraq can not csrew anyone. Look here what happen to Norwegians Stock market cause of iraq..

http://nenosplace.forumandco.com/iraq-general-news-f2/norwegian-stock-market-crash-because-of-the-problems-in-iraq-t16865.htm
.-= Neno´s last blog ..From HonestJohn =-.

lol, I know you are just kidding here Stephen. Love a sense of humor

Stephen says:
September 24, 2009 at 8:45 am
Buy on the Rumor
Sell on the News!

Also if folks would just realize the banks will have your maoney anyways, you will save much more by a wire from dinartrade.com Your choice tho. Ty to Adam for allowing to place a few links here on his Blog..

Dinar Trade cash-In Proceedurs http://nenosplace.forumandco.com/ali-s-section-dinartrade-f47/cashing-procedures-at-the-time-of-rv-t6766.htm

SONNY1: You do not do yourself any favors by disparaging American Contractor was it not medic that said ch7 was lifted and continued to say that it has been removed. And it took American Contractor to prove you all wrong.

Also medic said there were tents and how he confirmed this too be true just another BS rumor by medic. How can medic prove this by sitting in his living room? And he says he (medic) has the best sources and he is not even in Iraq…get a clue.

American Contractor has been more right about a lot of things…

OUT!!

mike, whats has american contractor been right about? i saw the tents with my own eyes on cnn, and fox, i also stated that they didnt exchange dinar in those tents. Dude read what i write before commenting o.k. what does medic have to do with me and were you directing the get a clue comment to me, because your little rant made no sense, and was directed at two people, and one of those people hasnt even posted anything. so buddy take a DEEP breath next time before you post o.k.
PLEASE.

hey neno, i agree that iraq isnt very saavy, but if they were to screw us they would of done it by now imo. if they choose to screw all the investors they truly would have no allies, plus i dont think our government (even though there shady) would still let us buy dinar (because they 100% know whats happening) if we were to get duped.

Seriously guys! Stop arguing about the tents and grow up! If everything on the News was real I would not still be over here clearing my weapon every time I enter a Chow Hall. You make the choices to buy Dinar or not… let the outcome decide if your choice was right or not. There is no need to belittle someone on their speculation, unless you know for a 100% fact.

When does medic think dinar wil rv?

Make no mistake about it, when (not if) Iraq decides to exchange large denoms for smaller denoms, it will be an In Country exchange only. This is what they did in 03 when they introduced the New Dinar. The old “Saddam” Dinars and “Swiss” Dinars were only exchanged In Country. People who held these old notes outside of Iraq and could not get them back into Iraq and exchanged lost their entire investment.
However, at that time there were no Dinar dealers around like there are today. So it may be possible for these dealers to exchange the denoms, for a hefty premium of course.
We should be focusing on what to do when the reval happens, not whether is it happening now or not. When it happens we will all know about it.

Dave, Medic has predicted the RV at least 30 times… he’s been wrong every time.

If you must know, though, here is the latest chat from “18delta” aka Medic… they are the same person, but you will see that he is pretending to be a different person.

12:33 AM [18Delta] TRC DID TALK TO MED ON THE PHONE AND HE TOLD HIM THAT HE WENT INTO THE 5/3 BANK IN HIS HOMETOWN
12:34 AM [18Delta] HE WENT IN TO ASK ABOUT THE DINAR AND THE BANK PRESIDENT TOLD HIM THAT HE WAS THE FIRST PERSON EVER TO ASK ABOUT THE DINAR
12:34 AM [18Delta] THAT HIS BANK HAS NEVER SOLD ONE DINAR EVER AT THE BANK
12:35 AM [18Delta] UNTIL TWO DAYS AGO HE DID NOT EVEN KNOWN ABOUT THE DINAR HIMSELF
12:36 AM [18Delta] BUT NOW THE BANK PRESIDENT CLAIMS THAT HE WAS INFORMED THAT HE WILL BE EXCHANGING DINAR AT HIS BANK
12:36 AM [18Delta] AND THAT HE WAS GIVEN A 24-48 TIME FRAME FOR IT TO REVALUE
12:37 AM [18Delta] THAT HE WAS GIVEN A RATE OF AROUND 3.46 FOR AN EXCHANGE RATE
12:37 AM [18Delta] NOW MED POINTED OUT A COUPLE OF THINGS HERE THAT DIDN’T MAKE SENSE
12:40 AM [18Delta] FIRST THERE IS A MI GOVT RATE AND THAT MEANS ONLY ONE THING THAT THE RATE THAT THE CENTRAL BANK HAS IS NOT THE RATE GOING TO BE GIVEN TO THE US PUBLIC
12:40 AM [18Delta] ONLY TWICE BEFORE HAS THE MI GOVT RATE BEEN USED ON A CURRENCY SCREEN
12:40 AM [18Delta] WHEN CHINA REVALUED AND WHEN KUWAIT REINSTATED THE KWD
12:41 AM [18Delta] SO THE ODDS ARE PRETTY GOOD ON WHAT THIS MEANS
12:43 AM [18Delta] SO MED ASKED HIM TO CONTACT THE BANK AGAIN TO VERIFY THE INFORMATION HE GOT YESTERDAY, BECAUSE IF HIS 48 HRS IS RIGHT
12:43 AM [18Delta] THEN IT SHOULD RV TOMORROW SHOULDN’T IT
12:45 AM [18Delta] SO THAT IS ALL HE HAD FOR YOU ON TRC
12:46 AM [18Delta] ANYTHING ELSE I CAN HELP YOU WITH

Props to Medic for the “MI Screen” bit, that’s a heck of a fairy tale. He should be a fiction writer, I hear they make good money.

Hi ya Adam. Thought you might like this one…

http://nenosplace.forumandco.com/koolaid-the-loved-hated-forum-f56/ghost-chat-9-23-09-8pm-t16855.htm#106327

“I have info from a trusted friend who has a family member who computer programs for a “large bank”. This particular programmer says that this stuff about the MI Missing Gov’t info is false. There is nothing appearing on their screens because she didn’t program it to appear there.”

This one was from a Mod I have and posted in a Thread we have from a GHOST. Do you know who the GHOST is?
.-= Neno´s last blog ..From HonestJohn =-.

What the hell happen with Investors Iraq, Dinar Speculator, and Dinar Rumor Website? Suddenly cannot enter them.

You’ve probably been banned.

Whatever happened to all ther other comments?

there is an option next to “leave comment” that says “older comments” click on that and you will be able to see them

yep, only 50 comments show per page or something like that.

I recieved this email the other day can anyone shed any light thanks…kenny, I apologize for my lack of information both via email and on theblog. There has been so much speculation and I want to be sure I’mpassing on reliable info. rather than rumors. Hopefully that’swhat I’ve done here. I ask your forgiveness ahead of time if it’s another let down, butI don’t think so. We have to stay prepared regardless. I received these emails within the last 24 hours. These sourcesare very reliable, I just pray they are right. Even so, I ampoised to make an appointment with Ali on Monday. May even cash in a little bit here at Wells Fargo to fund the trip if the RV isactually announced tomorrow. I heard that Wells Fargo will beexchanging, not sure about other banks yet. Apparently Chapter 7 was lifted yesterday, not when we thought, andthat was a big part of it. I have a phone appointment with one of these sources later today. I will see if I can get something definite plus some investmentideas. Anyway, here is what they said: ———————————– I just heard from a very good source, that the RV has been postedat $3.86 have you heard anything!!!! THIS IS EXCITING… ———————————– “I heard from a “highly placed Finance Ministry official” that thetransaction will take place Sunday, since it is a regular work dayin most of the Middle East. Muslims Friday, Jews have Saturday (theonly day off), and Sunday is the start of the work week. (In IsraelONLY, Christians are NOT required to work on Sunday). So I’d saySunday, …, but I hope I’m right. I’d hate to cause a problem;it’s just that my ’sources’ often don’t know much before ithappens. Also they say it would be Sunday, Yom Kippur, the Jews’Holiest Day, so the Arab countries ALWAYS require everyone to’work’ as an insult to the infidel, dhimmi Jews. Strange place. SoI’d bet Sunday, The Day of Atonement. Best regards…” ————————————- Also, my contact that lives in Israel, told me twice that it wouldbe Sunday for sure. I really believe that this is it & that we willbe headed to the bank next week for sure. I also just got a callfrom a friend in IND who spoke with one of the leading traders inIND and this is going to happen. ————————————- This is very exciting times. I will be posting this info. on theblog as well.

Kenny I sure hope that their is some foundation to your info. very exciting 3.86 halleluah. HOPE THEIR IS SOME TRUTH TO IT ALL

I’ve heard that the RV should take place around the 6th
I have also heard that Chase Bank will also cash inafter the RV. I hope for all our sakes that this happens, What a great way to get ready for the holidays!!!

Victoria Lawizza—The 6th of when? Where did you find out this info? And how reliable is it?

Well, I’m new to the site and I see a lot of interesting comments. I live and work in Kuwait, I have been here since 2004. I really don’t know whats going on inside Iraq but I will tell you NOTHING happens fast here. This is a cast system and everybody and their uncle has to get into everything if there is any money to be made. I have friends who have contacts in the Kuwaiti ministry and I have asked them to keep their ears open. I bought my ID in 05 and haven’t given it much thought until now. The tents could be for Ramadan, after that there is spring camps, there will be tents all over until March. I’ll keep reading the posts, if I hear anything here I will post it….if anybody wants me to check something locally I could…any way, patience is a virtue and waiting is a bitch, but as I have heard and read on the site it is not a question of if, but a question of when….ohhh on an interesting side note, most of the exchange houses here do not readily carry ID, you call them, tell them what you want (most of the time they want a deposit) and then a couple hours later they call you back and say “come and get it” kind of interesting….keep the faith

I am watching you Adam……You are a FRAUD!