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 The New Iraqi Dinar (Page 3)
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| Author | Topic: The New Iraqi Dinar |
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donb Member |
posted June 15, 2004 10:12
  
Was there any word on what kind of exchange rate they offer? Buying anywhere else forces a huge premium, it might be well worth the extra shipping costs to buy it from the bank if they don't charge a large exchange fee. If you find out, please let us know. IP: Logged |
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pharmdman Member |
posted June 15, 2004 10:14
I'll post everything that I find... unfortunately, seems like information from Iraqi banks is trickling rather slow. IP: Logged |
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donb Member |
posted June 15, 2004 10:16
quote:
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StonedPigeon Member |
posted June 15, 2004 12:53
Sent e-mail to two places today waiting for a return. At this point I'm more concerned with buy back. Two others won't touch the dinar. Did find this place a money broker. Not for IP: Logged |
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Wahya Member |
posted June 15, 2004 18:53
No one is going to touch the Iraqi Dinar because the country isn't on it's own. When the new government takes over and the oil begins to flow we will see dramatic movement. The other side of the coin is the massive debt Iraq is buried beneath. President Bush is trying to get its creditors like Russia, France and Germany to forgive the "vast amount" of Iraq's debt. It's looking very hopeful that will happen. The world is smiling upon Iraq right now despite ongoing problems within its borders. My bro in law is in Kuwait just now buying every dinar he put his hands on for us both. Almost every islamic country is buying dinar by the truck loads...Egypt, Saudi Arabia and Pakistan to name a few. You can check out World Bank and Asia News, they both have websites. IP: Logged |
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StonedPigeon Member |
posted June 15, 2004 18:58
Still wondering about buy back once I got em what do I do with them? Who do I sell them to [This message has been edited by StonedPigeon (edited June 15, 2004).] IP: Logged |
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StonedPigeon Member |
posted June 15, 2004 19:03
http://www.thecreditprotector.com/iraqi-dinar.html IP: Logged |
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tic_toc Member |
posted June 15, 2004 19:46
Okay they will open an account in your name. You could leave the dinars in there until needed? Dont know if i'd trust it though. Got me thinking though. Open an account with a legit arab bank like..... Arab Bank....and have the account transfered to dinars. would this work or nobody outside of Iraq in the arab world dealing with dinars? I might ring their UK office tomorrow see what they come up with
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pharmdman Member |
posted June 15, 2004 20:02
quote: I'm not quite sure if that would work, but I had the same thought. Just not sure if I'm comfortable with my money in an account (long term) that I can neither verify or handle in person. I'm still looking for options though. IP: Logged |
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Wahya Member |
posted June 15, 2004 20:30
Once the Iraqi government has taken over and the oil is flowing, the dinar will go back on the international exchange and you'll be able to go to almost any major bank in the US and trade them in. That may be several months from now. Or, as others here have indicated, open an account in an islamic country, hunker down and pray for daylight.
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Wahya Member |
posted June 15, 2004 20:34
www.uruklink.net Central Bank of Iraq website...not a lot there. IP: Logged |
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Wahya Member |
posted June 15, 2004 20:36
quote: IP: Logged |
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pharmdman Member |
posted June 15, 2004 20:36
quote: That was our original thought, although I was thinking that it may take a year or two instead of a few months. But for the potential return of huge profits, still worth the wait. IP: Logged |
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pharmdman Member |
posted June 17, 2004 10:35
Still no news (from any of the Iraqi banks, that is) [This message has been edited by pharmdman (edited June 17, 2004).] IP: Logged |
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AlphaMale Member |
posted June 17, 2004 15:01
I cracked. I bought some... It seems pretty solid. IP: Logged |
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Smctbone Member |
posted June 17, 2004 16:59
quote: Alright!! GO AlphaMale! Did you get it through eBay, did you find a better deal than the one we saw? I haven't gotten a single response from the 3 Iraqi banks I emailed either GLTA IP: Logged |
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pharmdman Member |
posted June 17, 2004 19:43
quote: I've only heard from the one, but it didn't look to promising. What good is selling them to me if you won't send them to me!? I'll be revving up the research on the subject next week when I'm off. I'll post any other options that I dig up. IP: Logged |
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AlphaMale Member |
posted June 17, 2004 20:14
quote: Actually I work with the DOD and know somebody in Kuwait. He got them for me. I should have them next week. IP: Logged |
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Smctbone Member |
posted June 17, 2004 20:33
quote: Lucky you! IP: Logged |
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pharmdman Member |
posted June 17, 2004 20:34
quote: Actually I work with the DOD and know somebody in Kuwait. He got them for me. I should have them next week.[/B][/QUOTE] Cheater! LOL... I wish I had that type of option. Great exchange rate and guaranteed delivery... sheesh... good for you though! I may just have to suck it up and do the ebay thing. I'm really leaning toward one thought....if the exchange rate is going to skyrocket (long-term, not immmediately or quickly), does it really matter if I pay 700 as opposed to 900 for the million dinar? I'm starting to think not. IP: Logged |
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Smctbone Member |
posted June 17, 2004 21:05
If it goes as high as I'm expecting...then it shouldnt matter at all!  IP: Logged |
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Doji say what!! Member |
posted June 17, 2004 21:17
i have a brother inlaw he just left.. good for me bad for him.... nice guy / his wife is going to get his contact info in iraq when he arrives and calls his family. so i'll be ready i plan on getting some for the family members and myself.. as much or less risk than say cmkx lol IP: Logged |
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AlphaMale Member |
posted June 18, 2004 19:23
quote: BINGO! IP: Logged |
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tic_toc Member |
posted June 18, 2004 20:28
http://www.usatoday.com/news/world/iraq/2004-03-28-iraq-economy_x.htm • Spending power is up. Civil servants got huge pay raises after the coalition decided to correct Saddam-era parsimony. "Public-sector wages under Saddam were quite literally starvation wages," economist Block says. Thana Ismail, 40, has seen her monthly wages at the Ministry of Trade shoot up from 3,000 Iraqi dinars a month (barely $2 at today's exchange rates) to 300,000 (just over $200). This means she can finally afford to replace the wheezing washing machine she bought nearly two decades ago. She has her eye on a $185 jumbo Samsung model.
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pharmdman Member |
posted June 18, 2004 20:42
tic_toc, this isn't something that we're thinking will climb quickly in the near future. this is my take on it... You buy your 1mil dinar now for about $700, then you put it aside for several years. maybe 2 years, maybe 8 years. Don't know at this point. The concept is that once Iraq is self governing AND they return to their former (pre-gulf war I) status as an oil producing nation that their currency will gain value rapidly. It will probably never (at least in our lifetime) return to pre-gulf war levels, but it will probably go up to 1/4 to 1/2 of that. Don't forget, Iraq has the world's second largest oil field under foot. I hope this helps you see where we're headed with this. This isn't a get rich quick scheme, it's an add to your wealth in the long run plan. Admittedly, there are some unaccounted for variables, but there's risk in everything. This one isn't going to pop soon, that's why we're all moving slow on it.
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pharmdman Member |
posted June 21, 2004 00:20
just a bump to the top.... I've emailed seven Iraqi banks and have only heard from one. I've re-sent the remaining six, since it's already mid-Monday there. IP: Logged |
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Smctbone Member |
posted June 21, 2004 00:24
quote: Great thinking...if we pester them enough maybe theyll give us the answer we're looking for! IP: Logged |
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derek111c Member |
posted June 21, 2004 02:02
Hey everyone, Where can I find the true rate value for this currency compared to the US dollar. I see people trying to sell this all over the place. Websites all over the place trying to charge like $1250 per mil. Then I see on Ebay for as low as around $850 per mil. I look at currency conversion websites and they have not been very helpful. What is the true value of this stuff? Would really appreciate some help. thanks IP: Logged |
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pharmdman Member |
posted June 21, 2004 07:20
quote: derek, you can use any currency converter. This one is from Yahoo. http://finance.yahoo.com/currency?u IP: Logged |
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EpiC Member |
posted June 21, 2004 09:44
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=4369&item=5705532772&rd=1 898.00 for 1 million dinars, 5 dollars shipping... Seller rating is 99.8 on almost 1000 trans actions... I bought 2 million in different kinds of bills. IP: Logged |
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derek111c Member |
posted June 21, 2004 11:38
Hey thanks Pharmdman, That worked well, I see a million dinars is worth about $687.5 Is their large fees Involved to echange currency? IP: Logged |
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pharmdman Member |
posted June 21, 2004 11:48
derek, In a nutshell, you can only exchange USD for IQD in Iraq. At least for now. There are ways to purchase online, but exchanging back will be your difficulty until IQD is on major currency exchanges. All of the details are on the 3 pages of this thread. Many things to consider. Suffice it to say that you will pay more than $687 to get 1 million dinar. My biggest advice is to read this thread closely and DO NOT BUY DINAR WITH SADDAM HUSSEIN ON THEM! They are now worthless. IP: Logged |
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JBCak47 Member |
posted June 21, 2004 11:54
Pharm!!! Hey bud! How are you? I haven't been on in a few days, as I played hooky from work and have been with the girl. Things are going pretty well! I met someone last night that reminded me of your screen name. She works at an Ice Cream store but is studying to be a Pharmacy Doctor (I asked if she mean't 'Street Pharmicist'?)lol Six years of schooling?!?!? lol I give you much credit... She's 20, and has four years and will be a doctor by 24 when she passes... That is pretty cool. Lol... any word back from the Banks of Iraq? As soon as CMKX hits pennies I am buying at least a million dinar. I just have no more money left to buy ANYTHING...LOL.... Hahaha I love being broke... I told my girl friend, not too long ago, that I know you are it for me. When I met her all I had was ten dollars to my name and a baggie of weed... lol... Now I just have that baggie, no ten! heheh...
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pharmdman Member |
posted June 21, 2004 12:00
Hey JB, Been well here. I took some time off from here last week too. I'm outta trading cash too! Those dinar will have to wait at least until payday! You've hit the nail on the head though... they were six long m/f'ing years.. LOL.. I only ever heard back from the one bank, but I re-sent my requests to the other six banks last night. I'm hoping to hear something soon. I'm ready to take the rest of the day off today, since there's not much movement for my holds and I have a ton of stuff to do around here. IP: Logged |
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JBCak47 Member |
posted June 21, 2004 12:08
That sounds like a plan to me... Yeah, it's quiet. Qbid should keep us busy and manic for the later part of the week. Also all this head spinning with CMKX... I haven't lost any sleep in a while from anticipation but I think I will very soon. Well I have decided that if cmkx hits buy the end of July, I am taking the whole month of august, or at least three weeks off before I start school again. But I'll probably work one week in August just for some quick trading cash, ya know. I have responisbilities but my job is overseen by one of my parents, lol. (I am at a Credit Union for a specific Local in NY) So getting time off isn't to difficult. Is there anything wrong with just wanting to be a bum? I mean I am not a bum 24/7 in fact I worked at McDonalds to buy my g/f a Christmas gift. (by far the suckiest job, I gained 10 pounds of pure fat in my three month job) Watch for those McGriddles. They pack the weight on. Lol... also just don't ever eat at McDonalds ever again,lol. Though McDonalds is better than TacoBell/Pizza Slut. Take the day off, relax. In fact I suggest going for a walk in a wooded park area. Pharm, you need to harvest the energy of the plant life. Just go through the woods thinking good thoughts about your stock/life/love, and you'll come out feeling 1000% better... -John IP: Logged |
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pharmdman Member |
posted June 21, 2004 12:12
JB, if I don't mow my lawn soon, it will be a wooded park area. As it is now, I may have to begin tribal warfare to dislodge the band of pygmys that have taken up residence. Then I need to dig a huge hole (10x10). I'm just too freakin' lazy... I need these stocks to hit so I can hire someone.. LOL  IP: Logged |
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JBCak47 Member |
posted June 21, 2004 12:36
Uhhhooo.... Ten foot by ten foot holes, over grown grass. Orginal peoples... I shall call you Mr. Klopeck Have you ever seen the Tom Hanks Movie, The burbs? Lol, you are the crazy neighbors,lol.
Go cut the grass,lol. You'll go cut and QBID will shoot to a dollar, then level off exactly at .014 when you return.lol. j/k -John IP: Logged |
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pharmdman Member |
posted June 21, 2004 12:42
LOL.. Nothing so sinister is going on. The hole is for the hot tub I bought last week. I need to pour a concrete slab to hold it, run electricity to it, and join the slab to the pool deck... If Q shoots to $1 while I'm mowing, I'll still be ok.. my GTC order has been in for quite some time! P.S. My neighbors love me, I've definitely improved their property values! Don't you know that the first rule to up your property values? Have gay men move into your neighborhood... we upgrade EVERYTHING! LMAO! IP: Logged |
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JBCak47 Member |
posted June 21, 2004 13:17
Lol, watch out All stocks, Daddy Warbucks is in the house. Hot tubs, ride on lawn mowers... This isn't Beverly Hills...lol!!!!heheh... That is so awsome you got a Hot tub... lol... You'll be relax like Biggy Smalls... smokin 'L's in the Jucuzzi! Hahahah... That sounds great man, was any of this brought about by recent stock picks?!?!? Yes Gay men are great! Though I'd still perfer two lipstick lesbians... Becareful with the hot tub my friend. We have one at my house, its like ten years old or so, but the thing works/looks great. It can get as hot as 112 degrees, which is REALLY hot... so be careful. My I suggest something in addition to this hot tub? Go buy yourself either a Chimmeneya (sp?) (No, Not a Chechen Rebel, a chimmeneya. Not a Chimichonga.) or a small copper fire pit. Talk about relaxation.... Those little chimmenyeas work great, fire always helps man relax. All of this plus a few of your pharm meds...lol.. -John IP: Logged |
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pharmdman Member |
posted June 21, 2004 13:22
JB, LOL... i'd like to get a chiminea, but it's like 8000 degrees in florida right now... but it'll work out in the fall/winter.. No, i didn't get it from stock money, i wish! although, i did manage to remodel my kitchen, bathroom, living room, dining room, and 2 bedrooms from stock money. now i'm broke again! lol If CMKX and QBID come through for me, I'll do the rest of my house and treat myself to a new car too... but i'm not holding my breath just yet... IP: Logged |
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JBCak47 Member |
posted June 21, 2004 14:02
Very well said. Hey congrats on the remodling. I just have high hopes for Qbid and cmkx Why was I thinking you were in Chicago?!?!? huh?!?! Florida! What part? I have some holy roller family in Daytona/Deland area... lol... I am not looking for a new car. Just some real time off for the summer... Well just another two hours left before the office day ends. I am at work, lol, with all day access to a computer. That is why I always seem to be on. I do have a life,lol. -John IP: Logged |
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pharmdman Member |
posted June 21, 2004 14:10
JB, I'm in Tampa. Just outside the city actually. chicago, huh? I could live there... it's definitely more metropolitan than Tampa. Actually, it doesn't take much to be more metropolitan than Tampa. I'd like to hit some big money so I could make the jump to Southern California. I love San Diego... I could live in San Fran too... ya' know, it's like my mother ship! LOL.. I always seem to be on too. That's because I have no life and I'm actually just sitting on my a$$ in front of my computer! IP: Logged |
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JBCak47 Member |
posted June 21, 2004 14:46
Don't ever under estimate the power of laziness as well as gluttony (sp?)... Seriously though, San Fran would be sweet. However I opt more for something like Neveada or more likely Ariozona/New Mexico. You need to visit Santa Fe. You'd love it there. Very friendly area too... -John IP: Logged |
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pharmdman Member |
posted June 21, 2004 14:52
JB, I agree, the southwest is sweet, but I'd rather vacation there than live there. Was in San Fran last Oct/Nov and freakin' loved it. I'd have moved immediately if the cost of housing wasn't ridiculous. I don't want to go backward in quality of life at this point. I need to either hit the lottery, hit the stocks, or have the real estate market here shoot up. So far #2 and #3 may be happening... I'm just keeping my fingers crossed! IP: Logged |
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JBCak47 Member |
posted June 21, 2004 15:49
Lol, well maybe #2 will happen sooner than any of us think... Let us hope. Do you have any other good picks below .001 ??? I have turned on many people that I know onto Qbid. Infact A long time friend bought 17k shares of it Friday. He's my age and just opened his trading/brokerage. He's all esstatic about getting into stocks. He also owns 25k shares of CMKX, but he wants to get more. He's like me, a little short on change. But he loves the idea that 60/70 dollars will get him 100k more shares... He wants at least 75k more. I told him if it does pop, he can then use that money to trade with, once taking out his money that he started with. He loved this idea,lol. I think I am going to talk to the Ice Cream/Pharmacy girl next time I see her and ask if she has ever invested. Choicetrade requires no minimum balance to open an account, so hence for us college kids, fifty dollars is all that is needed! Besides, I love having an account now and being able to trade. I know she would be interested in it because all my friends signed up for accounts. Their biggest reason for NEVER doing this was that they didn't know what to do, where to go, what stocks to pick. They just needed a push in the right direction. lol. Has this happened to you? They heard my qbid shot up and everyone jumped on board, between .019 (lol my g/f, yikes?!?) to .012 funny enough they are all straight, but many have Gay friends or relitives... If qbid goes broke, lol, I am dead as 30 people will be after me... lol... -John IP: Logged |
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pharmdman Member |
posted June 21, 2004 18:07
JB, I don't have anything else under .001 right now. Mostly because I've been scarce last week and because I'm out of funds unless I cash in QBID, CMKX, or TFCT. They're the only things I'm in right now. I know what you mean about getting people on board. I keep getting sh\t at work because I told everyone about the 3 I have, and they harrass me every day that I'm not retired. They think they're being funny, and I hope one day I can go in and rub sh\t on their noses! LMAO. IP: Logged |
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pharmdman Member |
posted June 22, 2004 14:41
bump IP: Logged |
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AlphaMale Member |
posted June 22, 2004 21:01
I picked up some more yesterday... IP: Logged |
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AlphaMale Member |
posted June 23, 2004 23:17
Bump IP: Logged |
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pharmdman Member |
posted June 25, 2004 20:17
Just a bump to the top, but still waiting to hear from more banks. I re-sent my emails, but still have not received any new responses. I just might have to suck it up and grab mine from ebay. $875 for 1 million is still not bad considering the appreciation we're expecting. IP: Logged |
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...but now I have to wait for some more money anyway (my darn Toshiba laptop blew up on me, so it's taking all my profits to replace it)
