Hey everyone, if you’re not registered yet for the FREE conference call, go here:
http://dinarnews.net/9-21-10-register.php
We’re doing a FREE call tomorrow night, complete with guest speakers and all.
Now for Iraqi Dinar News.
CBI suspends all transactions at Warka Bank; Issues an order to cease all dealings
Posted: September 20, 2010
Iraq, Dinar, IQD, CBI, warka, Government, Central bank, Business, Central Bank of Iraq, Financial services, Basra, Banking ServicesBasra, September 19 (Akaniwz) – complained about a number of local residents and Iraqi traders in the province of Basra from the way it treats the Warka Bank Ahli Recently, with official source in a branch of Bank Central Bank of Iraq issued an order to cease all dealings branches Warka until decide that the committee overseeing the Warka Bank this topic.
Said Mohammad Rahim Ragab (dealer) told Kurdistan News (Akaniwz) on Sunday, “I deal with Warka Bank for more than a year, where did they deal with customers on a good level, but recently turned all parallel.”
He explained that “the large sums that are deposited in the Warka Bank became trapped and I can not withdraw their payments do I need in my work, which requires me to permanent financial liquidity.”
Read more: http://bit.ly/8Zp6Z1
Warka suspended? Oh MAN that is huge news! We’ll tackle it tomorrow on the conference call.
More on that:
Warkaa bank says it has not collapsed
Monday, September 20th 2010 1:36 PM
Sulaimaniya, Sept. 20 (AKnews) – The general director of Iraq’s Warkaa Bank said on Sunday that his bank has not collapsed but has faced problems due to a recent decision of the Iraqi government to that led to over $1.6 billion to be withdrawn from the bank.
Read more: http://bit.ly/95Njic
The three presidencies distributed among the main forces, source
Friday, September 17th 2010 7:33 PM
Karbala, Sept. 17 (AKnews) – The Iraqi political scene is witnessing a new consensus about the distribution of the sovereign posts in the country. The Kurds will get the presidency of the parliament, al-Iraqiya will have the Republic presidency and the National Coalition, represented by the Iraqi National Alliance (INA) will get the prime minister’s post, said on Friday a leader in al-Iraqiya list led by former Prime Minister Ayad Allawi.
Read more: http://bit.ly/9NQVsi
Sharing the power…. a three way split?! We’ll tackle THIS tomorrow as well!
Don’t forget to sign up for the Call tomorrow. If you can’t make it, we’ll archive it and post it for you to listen to later.
Also – post your questions in response to this post.
Talk to you tomorrow!
Warm RV Regards,
- Adam Montana
Related posts:
Lots of interesting news today! Can’t wait to hear your take on it Adam… This is certainly an adventure – The ride of a lifetime! LOL
Thanks as always for keeping us informed and updated.
What is the big deal with Warka bank? I saw on the forum a lot of people deposited their dinar with them? Why would you do that instead of a safe deposit box?
thanks for the email,want be able to be there,hope to listen to it soon.hope this is coming to a end soon.
thanks
cowboy
Adam, I am wondering when we might be able to have discussion on specific after rv investments. (VIP)
Adam,
We recently heard that the revalue would come mid summer?
I realize the Iraqi government has some monumental hurdles to overcome and that they march to their own tune. What is the speculation now? How are the pieces falling into place?
What remains to be done?
Adam, you were going to do a VIP / Offshore conference call. Is that still in the works? I’d sure like to be there; have several questions. L/
I purchased my Dinar from Safe Dinar. Are they reputable and other than a certificate of authenticity, how do I know these are not counterfeit bills? Thank you, Adam.
I have read in many places that it will take YEARS for the Dinar to reach the $3 or $4 per USD level.
I have also heard it will take YEARS for the revalue to even happen!
What is your comment on this?
Thank You!
Can You please find out WHAT and WHY the delay on the RV/RI is and discuss it on the conf call Tues eve. Everyone is asking me and I have no answer to give.
Thanks,
Carl
Adam, once there is an RV. If a business would agree to accept the USD value in Dinar, say for a car or furniture, would there be any tax consequences since we did not cash in that amount?
Thanks for all you do.
John H
Do you recommend depositing exchanged rv funds into an LLC or a trust. And what would be the difference?
1.Why would anyone think any RV would occur available to the international holders of Dinars if the is no seated government?
2.As I understand it the UN sanctions have not been lifted so as to have a freely trading currency
3.Most of us hold 25000 notes. They will go away in time . Over what period of time?
4. What US banks are likely to accept Dinar deposits and how can this be verified?
5. on what basis can anyone think that an RV came come at $4.20? This would be nice but lunacy . Any comments on these bloggers who have “special contacts”
6. What is the truth on Warka bank?
Can Iraq operate as an independent country, after U.S. forces leaves next year, if they DO NOT HAVE A CURRENCY THAT REFLECTS ITS TRUE VALUE?
I’m going to a rock concert tomorrow, instead. Sorry Adam! Can I look up the calls later?
at what rate do you think the dinar will come out at and thanks for all you do
1. Is there a risk to take my dinars with me to Kuwait? If not what bank(s) will I be able to set up an account with and cash in so I can transfer the funds to my Belize account?
2. Is there a way to invest in Iraqi Oil?
I purchased some of the dinars in my name and some in my husbands name. Does he also have to have a subscription to VIP in order to be included in the “group” rate?
On the application for offshore corp it mentioned the Belize account would require a $1000. deposit after 6 months, can this be wire transfered to the the belize acct from a U.S. bank using US Dolllars ?
I understand that cashing in our dinar will be a capital gains, either long or short term. If we exchange our dinar that we have owned for less than a year for gold or other currencies after the RV, and hold those investments until after a year has past, will that make it a long term capital gains? If so will the 12 month clock start at the time we bought the dinar or when we made the exchange?
Adam,
Are you still getting updates from your CBI contact?
If so, what is he having to say about the possibilities of a RV this year?
Adam thank you for the information, on everything you know do you think we are close to having a rv. Thanks Fred
Hi Adam, Thanks for everything!
I have an elderly family member that has some Dinar but doesn’t really understand the whole deal or what she got into. Did you find a way that we can help family members, with their physical Dinar (depositing in Warka or overseas accounts if we have something setup) and holding until RV, then dispersing to those family members as needed without a heavy tax burden on ourselves? Thanks.
It’s getting better whether we believe it or not. However, it’s not enough yet. I wish whoever is behind the RV gives us the good news SOON.
http://www.iraq-businessnews.com/2010/09/16/iraq-the-awakening-economic-giant/
I too purchased from different source-GIDAssociates . I don’t want to be part of the ‘Umbrella Crowd’ but do hope it RV’s soon.I just returned from a trip to Zimbabwe & those people have rands that were printed a couple of years ago that are worthless. They are now using USDollars. Please advise to be a Smart/Actual Invester.
Thanks Adam!
1.Can Ali do a ledger to ledger transfer with Wachovia Bank?
2. Which bank can you exchange small amt of dinar with to get cash in hand (no delays) in order to open your business accounts/Trusts with?
Adam-is it true all of our funds have been frozen at Warka?
Thanks for all you do…
Debbie
If the VIP members have 25+ billion dinar and have leverage, how much leverage would purchasers from DinarTrade have if they grouped together??
Adam,
I read a lot of your information and think it is good advice but due to the fact that you and most other people are domiciled in the USA I was wondering if you had any advice for Canadiansas as to where we can cash out etc. etc.
If a US citizen has dinar in cash and some more in their IRA, is it possible to convert the dinars into a different foreign currency and delay or avoid paying taxes on it?
Adam, would you please comment on the most recent news out of Iraq, that there are 27 trillion in dinars having been sold in the large notes. It seems improbable for the huge cash in most of us were eagerly looking foreward to. Too much for them to handle. Marc
I understand that some of the countries in the gulf region are toying with the idea of a joint currency like the euro called the gulfo. Will this effect the dinar?
Adam , please tell everyone what are the countries that we can move our money to before it RV’s that the US can not touch ! This needs to be answered ASAP so we can protect our investments . I want to move mine now ! Help !
Hello everyone,
I’ve been an investor for going on 6 years and heard the grumblings on and off for that time. When you break this down all the optimism in the world cannot escape the fact that CHAPTER 7 NEEDS TO BE LIFTED FOR THE DINAR TO BE RECOGNIZED AS A CURRENCY. Look for news on that and than you can thank God, praise Allah, say “It’s finally coming down to the wire and it’s almost over” etc. Don’t look at elections, CBI movement, etc. Also, please quit asking what the final rate is going to be….NO ONE, INCLUDING ADAM KNOW THIS…PERIOD. That’s like saying what’s the Bond market is going to open at next Thursday, if someone knew they would be really wealthy. All the contacts at the CBI, the brother who is in Iraq, the street vendor who sold me a Coke when I was over there, know this and frankly it means nothing. If currency traders knew what currency was going to do before it happened they would be stupid rich……CHAPTER 7 PEOPLE CHAPTER 7.
Hi Adam,
If we sign the agreement with Ali and the RV come in more than what we’re locked in for. Do we or do we not have to sign the agreement before we know what the lock in rate is? Just want to know what the best way to go would be.
I’m sure I’m not the first to think of this, but would it be legal for the U.S. Treas. to purchase mucho dinar then aid RV to pay for the war?
Do you think the government is formed and they want to Rv but there stalling for some reason?
Adam, Warka account after RV. Will it be difficult to capture the rate and transfer the IQD to the USD savings account?
Should I have received an online passcode and a Master Card when I opened the Warka accounts? I read that the MC was flat and I may have thrown it away thinking it was an “offer”.
Hi After filling in the form for gifting your Dinars to an offshore company in the Seychelles, how does one forward there dinar notes to the Seychelles from Australia
cheers
adam do you have any idea when they may form a government.i think that is what its going to take to get the rv in motion. adam thanks for all you have done to this point and we will be tuned in tomorrow night.it will be intersting. god bless..,,,,,,,,,,,
Any truth to the loping of the zero’s on the large bills? If so and if it happens at the end of the year, is it true that we will we have six months to cash those in an not lose out. Secondly, do you suggest we but some smaller denoms such a 50, 100, 250 and 500′s now to safe guard against the loping if it would occur?
Adam,I bought 500,000 thousand dinars on ebay. When RV takes place, what would happen when I go to cash in and the bank wants to see proff of purchase. I have no receipt. I bought these 4 years ago.
I, Like Judy, above, need to know what the advantages/disadvantages to depositing the RV funds into a NV LLC rather than just puttting the funds into the bank as a personal account.
Andy,
Can you please address the following questions?
1)Can you please describe how we can get our dinars to Belize if we are unable to travel there?
2) What are the tax benefits of an offshore account?
3) So many people talk about this investment as
if it is a done deal and that they will make millions. This seems unreasonable to me. Can you comment on your view of this investment?
4) Has the GOI been seated yet?
5) What else needs to be accomplished in order for an RV to happen?
6) Many people think this investment is a scam. Can you please offer your opinion on this?
I am curious as to how the RV would affect the Iraq economy. If the Iraqi citizen is being paid even a dollar a day (1170 dinar per day) wouldn’t an RV turn their economy upside down, and cause rampant inflation?
Can I put dinar in a Roth IRA? And Will this help avoid taxation?
How do you deposit your Dinar in a bank and not have it turned into dollars immediately? Shouldn’t I just “bury it out back”?
How does the U.S. government know when I purchased my dinar? I don’t remember giving Ali any pertinent info like my SSN, although I did give a copy of my Drivers License (with NO SSN)
Adam, have you heard anything about how the US government is going to handle the taxes on the dinar rv? I have heard that they are going to handle it as a lottery tax, I sure hope not , what have you heard?
A piece of the puzzle I haven’t figured out yet. Please help me out.
Where will the money come from to cash in all our dinars? I assume it must come from CBI – but how will they come up with the trillions of $$?
Is this an emperor with no clothes?
Thanks for your help in answering this.
If we are interested in investing in Iraqi Stocks, how do we go about doing it.
In investing in Iraqi stock do we purchase with Dinar or US dollars?
What banks in the US are taking dinar? Anyone have info on a trust? Also it seems like a crap shoot on cashing in early or waiting, any ideas!
Thanks Adam
Adam
Do you feel the October 8-10th meeting with the IMF will play a roll in the RV timeline?
Do you think the government is formed and they have a rate and date but there stalling for some reason?
Question for conference call. Do you think we will see a reduction in capital gains tax in 2010 or will they push it until 2011?
Big news
http://dinarvets.com/forums/index.php?/topic/33045-kuwait-declares-end-to-the-pending-files-with-iraq/
Not sure if this has been answered already……
On the CBI Foreign Exchange Auctions the market price & auction price have been showing the same price of 1170 which started Sept.14th 2010 to date. Any significance to this abnormality?
Hi Adam, I was wondering do you have a chart set up? In other words, I have $25,000 Dinar, when the RV hits, when should I cash it in,at what rate, showing the rate and how much U.S. dollars I could get for that amount, and other amounts for different amounts of the Dinars.For example,Dinar amounts, $25,000, $100,000,$250,000,-$10,000,000 Dinars. Shwing the rate and U.S. money recieve on Dinar amount.
When will the dinar reevaluate and when would it be good to cash in?
Sabrina, you can use this site to gain some insight on your investment. They have the conversion factored for $1,000,000 dinar, so you will need to do some simple math to equal your investment.
http://www.dinartrade.com/
John, I am Canadian to.
I have contacted a fiscalist
to help me make the best decision on how to move prior and after RV.
But like most of the people here, I am more concern about what is the best way to RV than the final rate.
We can keep in touch if you wish
Wow, I can see that there is a lot of excitement out there. If the Dinar RV’s it will mean that it’s a recognized currency. I just got back fro Cabo san Lucas and I had a lot of Pesos so guess what??? I went to my bank. Do you know why? Because the Peso is recognized as a currency. When the Dinar is a recognized currency you can go to banks and have them trade accordingly. All this talk of where to go and tax implications is great preparation but hardly worth the energy in research right now. Especially when you take into consideration that……………….THEY ARE NOT OUT OF CHAPTER 7 YET….NOTHING HAPPENS IN 7.
Hi Adam,I would like your opinion. Can we still see an RV this year? We still have the political leaders in a stalemate,neither one is going to budge without interference from The UN or US.Without a Gov in place we are not going to see a removal of chapter 7 or RV.Right now i think it could be another year or more before an Rv if a Civil war doesn’t in the mean time.One day it looks like they are making progress the next day their back to square one
Hi Adam, is it true their is no capital gains tax in Belize? Do you have any recomendations for cashing in, in Belize?
Thanks
Could you please explain why there is no tax if you EXCHANGE dinar for gold? What is the basis?
Thanks
Johanna
If the Bush tax laws are in place NOW, won’t whatever Obama does with their ‘extention’ only apply to 2011?
OR, can he ‘retroactively’ change the law so that it would apply to 2010?
Adam, I tried to get on the call but I was told that the conference number can not be accessed from my phone line. I am calling from Ontario Canada.
What is the problem.
There were technical difficulties and I couldn’t get in to the call.
Adam,
I attempted to listen in to the call. That did not work as you know you were dropped off the call. Maybe new technology might be best. Do you have any feed back on the Warka issue? Thank you Adam
so…what happens with the call now…it sounded like our hosting service is more fit for amateur hour than a large group of comitted investors…
We gifted our Dinar to our offshore corp and to our US corporation. In regards to the US corp would we still pay capital gains tax
Adam Ben reading about warka and wondering
if this some block poltical move for pwr or show of pwr etc.
I wonder where we were supposed to get the CC info from? I never got a phone number or anything besides the registration info.
good luck