Happy holidays, everyone! I hope you’re all safe and have most of your fingers still intact. If you made it through the weekend and didn’t blow anything up that shouldn’t have been blown up – congratulations!
I’m hearing a bunch of feedback from people wondering about a recent in-country RV of the Iraqi dinar. I’ve verified my next statement with 3 different “boots on the ground” sources IN Iraq, one of those three is a contact I have inside the cBI (Central Bank of Iraq): there has been NO in-country RV. While this is a possible scenario, it didn’t happen yet, so tell those rumor-mongers to pipe down.
Here’s what IS happening with Iraq.
Iraqi Prime Minister Nouri al Maliki meets Joe Biden (US Vice President)
Maliki meets Biden
July 4, 2010 – 06:43:22BAGHDAD / Aswat al-Iraq: Iraqi Prime Minister Nouri al-Maliki met on Sunday with U.S. Vice President Joe Biden, hours after meeting with the al-Iraqiya bloc leader Iyad Allawi, according to a cabinet press release.
The release did not elaborate on the details of the meeting.
Earlier on Sunday (July 4), Allawi said a meeting with U.S. Vice President Biden on Sunday focused on the need to accelerate formation of a new government, adding Biden did not carry any proposals in this respect.
Read more: http://dinarvets.com/forums/index.php?/topic/23344-maliki-meets-biden/#ixzz0spScHHLr
Biden looking with Talabani efforts to form a new Iraqi government
Posted 05/07/2010 01:30 PM
BAGHDAD (Babuz): Consideration of ex-Iraqi president Jalal Talabani and his Vice President Joseph Biden on Monday efforts to form the next Iraqi government. A statement issued by the Iraqi presidential press office said Talabani, Biden had “discussed the constitutional procedures for the post-election meetings, and meetings between the winning blocs towards forming the new government.” Talabani described Biden as “an old friend, confirming its readiness to continue its efforts to unify the positions of the various parties toward an agreement on a common platform and move to the next stage.”
Iraqi Ministry of Planning bringing over 4 million new jobs
Ministry of Planning confirmed that the implementation of the development plan will provide more than four million jobs in the country الكاتب
الأحد 04 تموز 2010 13:33 GMT Sunday, 2004 تموز 2010 13:33 GMT السومرية نيوز/ بغداد Alsumaria News / Baghdad
أعتبر وزير التخطيط والتعاون الإنمائي علي بابان، الأحد، أن أبرز أهداف خطة التنمية الوطنية للأعوام 2010- 2014 التي أطلقتها وزارته اليوم ستوفر أكثر من أربعة ملايين فرصة عمل بعد تنفيذها، فيما أشار رئيس لجنة خطة التنمية الوطنية إلى أن الخطة تنطلق من قدرة الاقتصاد العراقي على النهوض من خلال منح الإدارات المحلية في المحافظات دور كبير في عملية التنمية. The Minister of Planning and Development Cooperation Ali Baban, Sunday, the main objective of the National Development Plan for the years 2010 – 2014 launched by his ministry today will provide more than four million jobs after its implementation, while also Chairman of the National Development Plan that the plan stems from the ability of the Iraqi economy Advancement through the granting of local administrations in the provinces a major role in the development process.
We should be hearing some more news soon, stay tuned! I’ve got my finger on a few pulsing veins that are going to be very interesting, very soon. I’ll update as soon as we have more.
Best regards,
- Adam Montana
Related posts:
I guess this is good news that the assumed upcoming RV could in fact happen. I have no doubt that it will, but no one could ever know ‘when’. I am new to the list of commenters and an investor of the IQD. I have seen several questions posted that I am also looking for the answer, unfortunately I have not seen the answers to them. I appologize for asking them again but hopefully someone could catch me up with the news. 1) If we have the 25k dinar, do we need to change them in for smaller denominations? Are they going to be worth so much less that they are a bad investment? (not to mention the rumor of taking off the 3 zero’s! this one concerns me and confuses me the most) 2) Will we be able to convert them in the US at the time of RV? I have seen websites advertise that a company will have “locations” to do this at a large fee. (Of course, I do not live anywhere near their locations) This seems rediculous as national banks should be able to convert as soon as the dinar is recognized and RV’d. Any info would be greatly appreciated! Thanks!
Jackhammer I’ll try o answer most, but I’m mobile right now which makes it difficult.
1. 25000 dinar notes should be fine, but if there’s a recall on them you may have a limited time to cash them. That could lead to you being forced into a lower rate. A couple ways to diversify your investment would be a) open an Iraqi bank acct at warka bank or b) invest in Iraqi stocks.
2) shortly after rv all banks will be taking dinar, you don’t need to go to a “cash in” location. Doing so will likely subject you to risks you dont need to take.
I wrote a book that goes into much more detail., see more at http://rvintel.com
how would an “in” counrty rv affect US holders of dinar?
give me simple scenerio…..
Tim, I’m not saying this will happen but to answer your question: Iraq could limit it’s liability by doing an in country rv, giving wealth to their citizens, then lopping with a limited time to exchange old notes. I’m not saying this will happen, but kuwait swapped currencies 4 or 5 times. See my reply to jackhammer for more info.
Thanks for the great update Adam! I’m ready…
Thanks for the information, I hope something happens soon. Fred
Adam
I’m sorry if I’m asking a dumb question, or one that has already been answered….what is the real likely hood of an in-country RV at one rate and an outside of Iraq RV at a different rate? Glad to have you back.
Thanks
Hi Adam,
Are you implying that things are now moving towards the R.V. in the near future.
With Biden on the job nothing is sure to happen!
Hi Adam thanks for your time and info..Couple of questions 1.Is it a safer bet to purchase smaller denoms and why is that? and 2.Is it true that you will have to produce a proof of purchase from a reputable dealer to xchange at a bank in the U.S. when the time comes…if so what happens to all those without 1?
i have 25 k notes and the question i ask is if i want to open a warka account how do i transfer the 25 k notes i have to open a account with warka
Where will Iraq get 10, 100,
or 1000 times more U.S. Dollars
to pay us all off for our Dinars after Iraq revalues their current dinars ?
…Thus, follow the money trail
(the American dollar money that is).
Do you Adam in your professional opion see this happening this month?? And even at a lower out of country rate our money would be 1000x’s worth what it is right now(depending on your investment). I sould take the rv tomorrow at $1 usd = $1 iqd
Thanks once again Adam. But all those politicians should stop that bad romance they have, and blow the horn… so we can move on to a better life.
base from predicable when roughly RV will be happen.
Lately, my optimism has been returning. I got sick of this inch by inch happy talk and nothing happens. I never considered cashing out but for sure, I was done buying. Now I’m puzzled. My feelings are shifting with anticipation. Has anyone else noticed a change in their own optimism. Or do you think that I should just fight off these happy thoughts? Anyone?
Why do I need a passport to open a Warka acct ? Can I use my American driver’s license ?
Willie, Warka Bank requires a passport. End of story, sorry.
thank you for info adam you doing a great job.J B
Hey Adam, I was wondering if you had any thoughts on the post by “Motordown” on DV forum regarding…”We are taking out Warka Bank for Investment & Finance J.S.C. (BWAI) from the RSISX Index.” I hold accounts in Warka and was wondering if you still trust in them.
Read more: http://dinarvets.com/forums/index.php?/topic/23437-motordown-post-just4dinar-7510-warka-bank-concernsinfo/page__pid__142627__st__0&#entry142627#ixzz0stQJXOFf
Donald, I was thinking this might be the work of a competitor and Mohamed Issa of Warka bank confirmed it as posted by Maynard in the forum. See here:
Mohammad K. Issa wrote:
>
> Dear Sir,
>
> Please note this information has been posted by an Iraqi Brokerage firm another competitor in the market where each competitor based on their own evaluation and assessment sets their strategy, tactics and business plan to promote their business and interests in the market attracting cliental to their establishment noting that our bank from day one through its capital increases has been the only company that generated and guaranteed continuous profit and bonus gains to its fine shareholders bringing added value, incentive and profit.
Read more: http://dinarvets.com/forums/index.php?/topic/23437-motordown-post-just4dinar-7510-warka-bank-concernsinfo/page__pid__142627__st__0&#entry142627#ixzz0sufrwn14
Does that mean Warka is 100% safe? Nope! But nothing in iraq is 100% safe. Just know that the source of your original quote was indeed from a Warka competitor, so it needs to be taken with a grain of salt.
Greetings Adam, and thank you soooo much for your efforts in helping us laments with updates and policies that accrue and usually fly under the mainstream media radar. Quick Question: I hold a couple of million in IQD’s and was curious if i should have any sense of urgency toward my 10k notes? I also hold 5k and 1k notes, should i be planning anything in particular for a “shelter for any of my denominations?
I hope you have the time to reply, and again, a huge thank you for all of your hard work.
Regards-
Thanks for the quick response Adam. I appreciate your help!
Greeting Adam . . . Do you still think the RV will be on July 26, 2010?
How much is you estimate?
When you say 26 do you mean 26 cent????? If so then why? Thanks
lossing dream…………
Florida guy-
when the dinar is recodnized as a global currency, the holders of this currency should not have to have “proof of purchase” in order to exchange it. After all, when the exhanging process takes place your dinar will be placed in a de la rue machine and checked for authenticity. So I highly doubt proof of purchase from a reputable dealer is necessary.
Adam- please correct me if I’m wrong
Maybe i was a bit impulsive with my question regarding the denominations of my dinars. Question in point, should i be looking for an out, a shelter, sell, etc. for my 10k notes. Just from what i’ve gathered through forums is the possible in-country RV dropping 3 zeros from large bills. I feel comfortable hanging on to my 5k and 1k notes, but if anyone has an opinion on this, by all means. I’m all ears/eyes.
Howard,
Iraq has a lot of USD. When their currency RV’s, they will be getting back Dinar that is now worth something. They will not lose out really. A good business man will be set up for the RV way before it hits any way (meaning Iraq will have it planned out).
Fox 5 said:
I was in the warka bank here on base yesterday and the bank manager told me that he has all the smaller dinar bills (1′s 5′s 10′s 20′s 50′s 100′s and 500′s) in his bank right now but he can release them until the RV.
I hope that news will keep you all smiling
Now wait, this is BIG NEWS! Hearing that the smaller denominations have been both minted AND distributed is HUGE! How long has the bank had them on-hand? And how about coins (fils) – are they also in place?
Can we get a few people to verify this!?
( I got from Dinarvet.com)- Dinar Rumors
I am very sorry Adam to ask u somethings. I Live in Malaysia, how to Open Warka Bank Account. Pls Reply Mr. Adam…..!
sonny better not be lying
Here is my impression of people on this website…”ddeerrr, hi Atom, thanks for the useless news. Do you think I should buy more dinar? Adams response: “Yes” …..Otay, I will….thanks again for your efforts and telling us that the dinar will revalue each month when it in fact will not revalue for many years.”
I have 500,000 dinar.
I paid $500.00
Knock off three zeros
I might get back my $500.00
It will happen
How much iraqi dinar does most people have on this site? I have a little over 100,000 iraqi dinar. Should I buy more?
Adam, just wondering if you have any new info?
God bless.
Adam, I have been reading that the US is really trying to close the gap on people moving funds to other countires and islands. I wondered if you had heard anything on it or feel it will affect off shore banking. In regards to Warka account, once you open it with minimum, can you move small amounts a month into the account? Thank you!!
Adam, would you agree that there needs to be a government in place before we see any type of drastic change in the dinar? The reason I ask is that it currently doesn’t look like we will see a government formed anytime soon. It has been 4 months since the election and still nothing has been finalized. I’m beginning to think this could stall out for several more years if the UN and/or US has to step in and help these fools.
Greetings, not wishing to contradict Adam, a friend of mine recently opened a Warka account with his Drivers license, he didn’t have a passport. This was from New Zealand though and maybe Warka has different rules for America. But give it a go and see what they say.
My view on investing in the Dinar is that it is a sure bet and people should invest what they can.If anyone is doubtful then take a hard look at whats happening with oil production contracts. Iraq could be the largest producer of oil on the planet within 10 years. Look past the bombings and the unrest and look at the oil and the intention of the international community to help build Iraq, there’s the key. I believe that holding funds in a bank like Warka is a far superior way to hold Dinar than holding notes. Warka also give very good interest, this is something that you don’t get with cash.
Warka can be a bit slow but I have found them to be reliable in accepting and sending funds.