Iraq Dinar Speculation

Not a lot in the news today, but we did hear that the “Greenback remains King… even in Baghdad.”

Ali Mohammed of the Al Nasir currency-exchange company said that although the world market value of the euro has risen, it is difficult to exchange in Baghdad. And the dollar likely will be Iraq’s unofficial second currency for some time to come. The dollar fetched about 1,190 dinars in September, according to central bank figures, little changed from 1,220 dinars at the beginning of 2008.

“It’s the only thing used, besides the Iraqi dinar, for commercial business and trade,” he said. “As long as it stays pretty stable, we don’t mind this.”

Link: http://online.wsj.com/article/SB125667861511511383.html

I find this interesting for a couple of reasons. One reason being that the US is reportedly trying to kill the use of the USD in Iraq. By making payments in IQD, the US Military is able to save a ton of money. It also effectively promotes the use of the Iraqi Dinar, which is important to establish stability for Iraq… but according to the above quote, those efforts are not making a lot of headway.

Stay tuned, friends. More is coming soon on the Iraqi Dinar.

(For those of you unfamiliar with Dinar Currency, I just put a new page up. Are there other FAQ type subjects that you would like to see on DinarSpeculation.com?)

The Dinar is not traded on forex yet, and 99% of the Banks will tell you “Sorry, we don’t carry the Iraqi Dinar”… but after years of hearing nothing on the Iraqi Dinar from the mainstream media, now we have two mentions in less than a week.

Read on to see the video and the rest of the article.

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The ISX, or Iraqi Stock Exchange, has announced that it will begin trading 5 days a week instead of the 3 days per week that it started out with.

Trading Sessions in ISX

The Board of Governors of the ISX has decided to increase the trading sessions from three days a week to five starting November 1, 2009. Trading days on the ISX will be Sunday to Thursday; the market will be closed Fridays .

The pre-session period will start at 9:30 am. The trading session will be two hours from 10 am to 12.

Taha Ahmed AL-Rubaye
Chief Executive Officer

This change is scheduled to take place on November 1, 2009! With all the rumors out there, this is yet another date that lines up with what many hope will be a big day for the Iraqi people, and also for Investors like myself.

Regardless of what else happens on November 1, this is yet another sign that Iraq is moving forward in many areas. Leave your comments!

Hey all, thanks for being part of the community here. The crowd is fantastic and I’m constantly amazed by the emails and comments we get from the visitors. I’d like to make the site better, if possible. Please share your thoughts in the comment section below.

My question is this: What would you like to see on this site that we don’t already have?
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Jim Cramer, well known author and host of “Mad Money” on CNBC, talks about Iraq and the Iraqi Dinar in an interview with CNBC’s Erin Burnett. Erin Burnett has been doing a series of articles on Iraq recently, and apparently owns Iraqi Dinar herself, was chatting with Jim Cramer today about the topic.

Babylon Fund, broker Auerbach Grayson and Northern Gulf Partners were all mentioned in the conversation in relation to investing as well. Cramer, to his credit, did not endorse these companies personally, since he obviously has not had time to research them himself.

You know what, though? When the Iraqi Dinar makes it to Mad Money, do you think we’re getting close or what? Not one negative thing was mentioned in this clip about Iraq, the Iraqi Dinar, or investing in the same.

Video below.

To start your Tuesday off, I’m sharing a couple of thoughts.

First, did you see this video? http://www.cnbc.com/id/15840232?video=1300167523&play=1.

Chairman and President of Iraqi Trade Bank of Iraq, Hussein Al-Uzri

It’s an interview with Hussein Al-Uzri on CNBC on rebuilding Iraq. (Hat tip: It was announced over on NNP and shortly after that in the DinarVets.com forum.) It’s interesting to hear the president/chairman of the Trade Bank of Iraq mention that having the support of US banks for investment is “top of the list” of necessities for “Rebuilding Iraq”. He says that oil accounts for 90% of the revenue currently produced by Iraq, but there is a major effort to diversify. Until the 60’s, Iraq was a major exporter of foods.

A couple quick points:

1. If Iraq wants support from US Banks, and the US in general, eventually they are going to need a recognized currency. I won’t do business with someone if they are trying to pay me in uncashable checks, which is what the Iraqi Dinar is at the moment.
2. The “major effort” to diversify Iraq’s portfolio is HUGE! It’s great that they are a major player with a huge majority of the world’s oil reserves, but diversity shows stability.

Next thought is on the ISX, or rather – a little “I told you so!” – if you had invested in Al-Mansour Hotels back in May like I suggested you would have gotten in at 33.1. As of today, Al-Mansour Hotel is at 40.0 IQD. Now, here’s the bonus question for you math wizards: I got in at 27.6 IQD in early May, because I saw it as a winner. I shared my opinion shortly after that, even though the stock had already climbed. What amount of return have I seen?

See you soon!

-Adam Montana

P.S. Wednesday night at 9PM CST is designated briefing time in chat at DinarVets.com, I’ll be there tomorrow. See you then!

P.S.S. If you’re new to the ISX (Iraqi Stock Exchange), see my instructions on how to invest in the ISX here.

Hey All! Thanks again for being part of the community here, or for simply visiting – it’s the people that make this place great, and you’re one of them! I love having the opportunity to communicate my speculations and ideas on the Iraqi Dinar, but I also get emails from readers like you about other investments – and I want to take a minute to share with the readers who might be new at investing.

Some of the investments people email about are related to other possible “RV” type currencies like the Vietnamese Dong, but the most interesting questions are in another area – stocks and foreign exchange.

So here’s the poll question – how many of you are invested in other ways we might learn from? Please leave your comments, I’m looking forward to the discussion on this one!

Hello everyone, thanks for stopping by and/or subscribing to the newsletter or feed! If you’ve been around lately, you’ve noticed a few new things going on here. We’ve partnered up with http://www.dinarvets.com and have also been bringing information into the chat room at http://www.newdinarchat.com. The crowd has been awesome on all fronts, thank you to all who have been contributing!

As a result of the recent growth in our Iraqi Dinar web presence, we’ve received a LOT of questions from people, both newbies and seasoned investors. I am going to address a few questions that are common among new Iraqi Dinar investors in this post.

For those of you who don’t know me, I am Adam Montana. Not a dealer, not a pumper, and most definitely not a maker of Kool Aid! I have been a webmaster for about a decade, and I’ve seen my share of internet hoaxes and jokesters… I assure you, it is not easy to pull the e-wool over my eyes.

With that said, here’s a quick bit of common sense regarding investing: never invest more than you can afford to lose! Many of you know that we’ve had some pretty encouraging news lately, but that does not equal a garuantee, nor will it ever! The Iraqi Dinar “investment” is a speculatory one, at best. Do I believe the Iraqi Dinar will go up in value? You bet! I’m heavily invested myself. I also make money in the Iraqi Stock Exchange (ISX) and my Warka Savings account holds a pretty little sum of cash.

One thing that gets me fired up, though… is people who think they can claim an “RV” date (or RI, for that matter – it makes no difference!). Here’s a fact – this news will not be leaked, it will simply happen. Not one of us is high enough up the Iraqi Dinar food chain to get an inside line on a rate, date, or anything else that significant. If news like this does actually leak, someone will probably be found in the desert missing limbs.

However, the power of the people to gather knowledge is still tremendous. You’ll notice over at DinarVets.com that nobody is  censored for differing opinions… everybody is allowed to state their beliefs in an open book forum.  We all need the freedom to research and learn, so that each of us can make our own minds up about this investment. Please, feel free to join the forum and read and contribute – at the very worst, you’ll learn a little bit about foreign affairs. At the best, you’ll find out some information that could make you very wealthy.

All the best,

-Adam Montana

For those of you not on the mailing list, or if you’re just new to the site – Adam Montana will be popping into the new chat room at http://www.dinarvets.com tonight to break some information a lot of us have been waiting for.

The room will open around 6 PM Central time, announcements are scheduled for 9 PM central time (GMT -6).

If you can make it, we’ll see you there!

Check this out: http://www.dinarvets.com/forums/showthread.php?t=874

It’s another one of those “Finance Flash” posters stating that
soldiers are no longer able to withdraw USD from their ECC cards in
an effort to phase out USD and reinforce the native currency, the
Iraqi Dinar. The poster looks very similar to one posted on
DinarSpeculation earlier this year, you can see it here:
http://dinarspeculation.com/did-you-know/future-of-the-usd-in-iraq-finance-flash/

Some boots on the ground information on this change would be awesome - please forward this  to anyone who might have input or be interested!

If you’re not registered at the dinarvets.com forum, you can do so
for free by clicking this link:

http://www.dinarvets.com/forums/register.php.

Have a great weekend!

-Adam