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
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Adam
Thank you for this comment. There is so much noise out there a person like myself doesn’t know what to believe. I was not able to find the chat last Friday, is the news that you shared somewhere in print? Thanks again
Denny, the chat was over at http://www.newdinarchat.com. Most chat updates will be found on http://www.dinarvets.com.
Thanks!
Hey Adam, good to see you back posting. I for 1 know this is a gamble but it’s fun to talk to others also. Why when I go to the dinar chat does it take me straight to dinar vets. Only brings up small page and no buttons like it did on the 9th. Thanks for any info.
went to site. Cant find out any info about what happened Friday, if anything please respond
Friends of mine have heard that something is going to happen very soon in reference to the RV. I know Adam doesn’t like speculation as much as most, but that’s why we are all tuning in. Financial wealthy people that I know around town are buying up plenty of dinars. They are spending thousands, if not millionos of their own dollars.
It only makes sense that this will turn out for the good. It would help boost the world economic picture tremendously. Also, why would the U.S., the Saudi government and many others waste their money supporting a bad investment? I heard the U.S. invested 4 trillion into this? Any validity to that? What have you all heard. I don’t want to play a know it all, but just let you know what I’m hearing about those who have some sort of inside track.
Great blod today Adam. I get your frustration, but I also get your optimism. Please keep us informed with anything you have. What do you think this will do for the economy Adam/anyone?
I’m so new at this, but I’m invested…..it could this really happen? it seems too good to be true, and usually is too good to be true?
Sandy, it might be too good to be true. Or it might happen. That’s why I advise people only to invest as much as they are willing to lose, or at least only as much as they can afford to not use.
Nobody knows if or when this will happen.
Iraqi Dinar
21 Century Fools Gold!
I have an Iraqi Dinar Account with the Credit Bank of Iraq. It is 80 percent owned by the NBK, or the National Bank of Kuwait. I opened the account in 2006 when I held a Civil ID in Kuwait and was considered a temporary resident. My question is: will I be subject to capital gains taxes when the dinar revalues? I did not purchase actual paper money. I simply opened an account and deposited us dollars into it, which were automatically converted into Iraqi Dinars.
Regardless of how you make money, Matthew… our government is still going to want a piece of it! When you pull money from your account, if you have seen gains, that is considered income. Your tax professional will be able to help you claim it appropriately as either long term, short term, etc. Depending on your current tax bracket, your obligations will vary depending on how you file.
The LAST thing you want to do is go to jail over a few bucks, man! Just accept the fact that you’re going to have to pay some taxes.
The speculation, or risk, is that no one knows, until it happens, what the dinar value will be vis-a-vis the dollar. Given the low price of dinars now, that is a low risk. The dinar will RV (or IV) because of the country’s natural resources, and because other countries in that part of the world on the dinar want the Iraqui dinar to be more realistically valued to uphold the value of their currency. The ultimate value (and when) are the risk.
Ladies and gents, this is about to happen, I got an inside rumor(US troops station in Iraq) that the ramadan is over and the gov has to Reevaluate the dinar
on or before the 31 of this month. on Nov 1 they have to have elections. Does anybody hjas anything to add to this
I thank you so much
First I’d like to thank Adam for inviting me to leave a comment on here,. and,. also, for putting the effort into this in the first place! I’m a contractor in Iraq and I’ve been into this now since April 05. I’ve done my own research on this for a few years now and I’ve debunked many who attack the dinar investment. I’ve also seen many
“pumpers” work their magic. Alot of “bad” info has been circulated over the years, and that’s why it’s wise to do our own research and make a determination based on our own findings. I’ve studied the CBI financials and am confident in my interpretation,. I’ve watched the WTO, the IMF,. the GCC,. and the GOI thoughout the years,. and from my view,. It’s a given.! These past 5 months have been very active and very exciting too!! If we avoid the bad press and stick to the CBI financial reports and the IMF reports, watch the oil reports, and the meetings,. we can
get through alot of smoke and mirrors and get a better picture! Adam,. I agree with your feelings on “dates for an RV”,. I’ve watched them come and go as time passed.
I will close by saying,. what ever happens to speculators
will also happen to the Iraqi people. (IMHO).
I would like to Thank Adam & the rest of you for just the input about the Iraq Dinar! I guess for me to hear the Pro’s & Cons keeps me balanced…. Of course I want the Dinar to succeed. But, when you keep hearing something is about to happen all the time you tend to get disappointed when those dates come & go! So, I would like to rephrase what someone said on here earlier. When it happens it will just happen! There will probably be NO WARNING it would just a Re-Valued Dinar!
As for myself I have been invest in the Dinar since ’07. And I agree, something will happen. Just don’t know when? It’s a waiting game because of the lack of Govt leadership since the take over of Sadam! But, as said earlier the United States & other various countries have helped financially with Iraq, so you know they have to be assisting to get something out of it in the end…. So, I’m Hopeful that this is a Good Investment! I have just over the past couple of years learned to keep my eye on the Prize. But, most IMPORTANTLY…… BE PATIENT!
I would like to purchase more Dinar. Where can you get it and be sure that it is safe, (Real)? None of the Banks are offering it any longer. i spoke to some people who talked about taking their Dinar to the world bank. How will that lesson or avoid some of the taxes?
There are national elctions for the parliament in January. Are these local or regional elections?
Hey Adam, I was just wondering… if we have held the ID for over a year, then are we only subject to 15% CGT?
Thanks for all the helpful posts, the forum is full of great information. Thanks for sharing your inside information the other night!
To all who want to know when the dinar will gain its value.Follow the political situations surrounding the rebuilding of Iraq. There are so many factors from all countries that have to fall in place. The security and saftey of investing corperations, oil contracts are still being bidded on an need to be finalized, oil laws, The sanctions of chap 7 are still in dispute on whether the UN will lift them, agriculture,the new elections in Jan2010,Bagdah gov. an the kurdish gov. has to come to terms as one gov.. Who is going to get what part of the budget from what fields of oil. and it just keeps going on .But following the progress an infrastructure of Iraq an surrounding countries will help you make up your own minds on speculating the revalue.I beleive it will. Earliest 6 months and probably within a year is my guess.But that could change pending the political situations in which i get daily updates of all the meetings of the heads of state for all the countries.
JoAnn, are you having issues accessing the chat at http://newdinarchat.com/?
I just want to keep as much of MY investment as possible. I have been laughed at by so many people for investing in the Dinar. I have always paid my taxes and I was a soldier during the invasion of Iraq in 2003. I have been contracting in Kuwait and I am now in Afghanistan all in support of the war effort. I feel like it’s time to get something back from all this!
Thank you so much for this. I know NOTHING, and you truly are a voice or reason amongst lots of chatter.
i have been an investor, since “04″. i have seen a lot of b.s and, heard alot of b.s. I FEEL THAT YOUR SITE IS DIFFERENT AND ON THE UP & UP. T HANKS FOR INVIETING ME TO JOIN. I AM EXCIETED TO BE HERE.
Adam, thank you for your information. I have only been involved in the Dinar for about 1 month. I’m happy about that as I don’t think I could do this for years and stay positive the way so many have done. You are right about investing only what you can afford to; don’t use bill money. I look forward to hearing more from you as time goes by. Of course, I pray too much more time won’t have to go by. Have a wonderful day all!!
Is paper money, “dinars”, going to be a problem to exchange if in fact there is an RV?
Adam thank you for allowing me to recieve information regarding the dinar. I am invested in dinars and realize that none of us would have been permitted to invest in the future of Iraq if the Bush administrtion had not sponsored and supported legislation permitting U.S. citizens to realize the same rights as an Iraqi citizen to invest in Iraq. Without the sacrafices made by our soldiers, sailors, airman & women and marines none of us would be hopeful invetors. Perhaps thought should be given to remebering our military when the dinar revalues.
Adam I can get on the chat room . it only gives me the chat that is taking place at that time. When it was first opened we had buttons and a full screen now I have a small screen and only the chat that is taking place at that moment. Thanks for replying to me.
Thanks for providing insight! I am so new I don’t even know what to ask. It is nice to have a place to go to for info.
I have a question.. If you have stock in an Iraq-based company, resource, whatever.. what have you.. and the Dinar increases in value that makes your stock value rise also.. right? Or is it just going to make the company money? I only ask because I was thinking of getting stock in the ISX.. thanks.
JBUSMC, I believe if you have x number of shares of a company that is equivalent to 100 dinars, then after the RV, it will still be worth 100 dinars. The RV is only good/affect the USD exchange amount… IMO.
It was said that once the currency gets on the exhange that all banks tha handle forien currency must transfer into usd
how ever my bak says it will not deal with iraq dina, it is being blocked. Could this be because it is not on the market yet, or can they do this legally? Thank you for all your information.
The Chinese have mysteriously been welcomed back into the Iraqi Oilfields after being “blackballed” over their dealings with the Kurds. Early this morning, I hear that not only are they NOT blackballed, they have been awarded an oilfield in the south of Iraq. The evening before, there was a posting that referenced China,USA, France, and Korea having to agree not to cash in their Dinar if it revalued. China was NOT in agreement. Apparently, they are today. Did anyone notice this?
It has been said that US contracts are going to be paid with the dinar. Note: At the present rate of exchange, for every 1,000 USDs, more than 1 million dinars would have be paid. It would appear that the dinar would HAVE TO BE revalued before those contracts can be paid in the dinar. Otherwise, the Iraqi people will not economically benefit…. not to mention the effect it would have on those who have invested. What say you?
I am new about the investment, so if there is any news
just inform me.
There are so many flaws in your idea it’s pathetic. Do any of you have real investments or do you focus soley on the “I made $10,000 in my first deal in 3 minutes” as seen on tv bullsh*t? The only people profitting off the Dinar are the conartists taking those of you stupid enough to buy from them for a 50% gain against the actual exchange rate. Good Luck in your “investment”
So what is really happening, I was under the impression that de-dollarisation was to happen on the 6th, is the dinar now the only currency being used in IIraq. The IMFloan to Iraq has it happened. I thought that Iraq were due to start paying back China on the 13th, is that happening. Whats happening with the banks, we were informed that they were gearing up re the RV/RI, it has gome quiet . I would be a little upset if my October vacation hap been cancelled and nothing happens.
im in Iraq and we are still using the USD…
JBUSMC, are you using IQD just within a USA compound, or can you actually use it at the retail level (in otherwords for purchasing goods from IRAQ vendors on the street)?
Steve,
Are you invested in ID? If not, why are you spending your time bashing people on a Dinar speculation site? I am in Kuwait and buy my Dinar directly from exchange companies, no middle man and it is not 50% less than the prices I see posted in the US…..yes its much cheaper, but not 50%….I look at it as a lottery ticket that has value, its not like once you scrath it off its worthless, I can sell my Dinar for 25% more than I paid, not a bad investment in these current economic times….If you think we are stupid, so be it, no one is asking you to invest. Go watch a movie and quit bad mouthing people you don’t know and who aren’t hurting you….ohhhhh maybe you feel better when you down grade others….ahhh to each his own
John,
both.. I dont know if its just a Marine Corps thing.. but I know that the Army has Eagle card and such.. I have yet to see anyone turn the USD down.. I have bought deeply into the Dinar so im right there with everyone else hoping this hits soon. But seeing how the markets arent saying no to us.. I cant give any insight. sorry.
Thanks JBUSMC.
I kept hearing that the IRAQ vendors (on the streets) were not accepting USD, but I’m glad to know you are actually there and see the contrary. Keep up the good intel and let’s hope this thing hits soon.
Respectfully,
John
Interesting,
So much increased talk that I can’t keep up with it all, and having been invested since 2004, it can get a little boring watching Iraqi’s do nothing to improve their country, makes me sick. To think oil law is still not passed after a year is insane knowing that oil is their lifeline.
Makes you wonder if it will ever be passed, and this reflects poorly on Maliki and as I see it, with growing opposition, he has only one chance to get re-elected, he has to put money into the pockets of all the poor citizens since they are the ones who need the help. All the politicians have ripped off billions, so isn’t it about time the poor get some of the wealth rather than just the politicians.
I have always looked at this as a long term retirement plan, but who would have thought it would be this long? With chapter VII resolved thanks to some pressure one Kuwait to get over what Saddam owes for invation, we may see some progress given elections are coming up in January.
Will it happen this year, sure hope so, but with all the delays and sectarian hatred in gov., I doubt it will happen this month as some rumors have stated. I put it in Nov. if I was a betting man, which I am. lol It is like having a winning lottery ticket but we don’t know the drawing date. That is how I look at it, so time will tell.
Since I notice some on this blog who are in Iraq, perhaps you want to make some extra money, what are mobile costs to call outside of Iraq, anyone know? We are looking to set up wireless mobile in Iraq with this new technology called COIP, so any insight into cost of wireless, and which carriers are used would be appreciated.
Thanks,
Hello from Russia!
Can I quote a post in your blog with the link to you?
I just heard about China and oilfields…? anyone have any literature or something on this.. I havent checked the news site yet.. if someone knows something please post. thanks.
I look at is its a chance that it might hit in my life time if not i’ll leave to my children and they can give it to grandkids if they don’t see it .Ive throwed it at casino’s and bought loto tickets so I beleive it will hit one day.If it does well me and mine will enjoy it.Its not my lost.You know i wouldn’t have bought if i was depending on it to live .But it would be nice to have everthing paid off and get some enjoyment from it that i cant afford now.Thanks for the information we get from you’ll.Though I hate hearing all the negitive arguing and calling others names.Like you said we will hear when it hits.
I emailed to President Barack Obama on Thursday 22 of October 2009, as follows:
Just look at China’s currency rate since the day it was revalued after communism was fading away. Why is her currency rate still remaining very low despite it is still rising slowly? Their cheap labour to worldwide’s markets is killing numerous businesses in the west by creating more redundancies, every year. One of the giants called Maersk in the shipping business is heading towards hell. Why? Could China’s cheap offers spoil the markets of the west? Of course! If the currency rate of Iraqi Dinars is not revalued asap, Iraq will be the next “China” to kill the world economy of the west within a few years’ time due to cheap labour as well. Is not “Once beaten twice shy” sufficient to feel the pain of repeated economic downturn particularly in the west? Truly, “An ounce of prevention is worth more than a pound of cure” should be a good advice to “Procrastinators”. Please be forewarned that Iraqis are shrewd, if not a cunning fox like the many Chinese in China.
Please revalue Iraqi Dinars asap, Mr President!
Looking at the dates of the above comments, this forum for commenting is way behind. Notwithstanding, the point that has been made is that NO ONE has an inside track on the rate and date the Dinar will be RV’d. PATIENCE and continuing to plan for dealing with your return is the only posture that one can take at this juncture.
When we have to cash in the large denominations of Dinar Where will we be able to do that? I was told
that we could do it at any Bank, but now I do not think that is the case. Is there a money Exchange
Facility any where in North Carolina? I am on edge
wondering if I am going to be able to find any place at all do the exchange.