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Author Topic: The New Iraqi Dinar
JBCak47
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How about the IRAQI dinar?

Right now it is equivilant to about .0012 since $1200 gets you a MILLION Dinar's. Before the second war, the old dinar was at .33 to the american dollar. Before the FIRST war it was 3 dinars to every dollar, so as the IRAQI dinar was worth more then the American dollar. Now a dollar buys you like 800 dinars.

When QBID hits, or cmkx, or usci, I plan on buying at least a Million dinars. If it goes to a penny its worth:

.01= $10,000
.025 = $25,000

.1 = $100,000

$1 = $1,000,000

What do you think? I mean we did invade them, capture their dictator and install a new government with NEW money. What will happen to the dinar when the Iraqi oil wells and reserves are tapped to 10% potential? 40% potential? 80% potential?

You can go lower in the amount of Dinars you can buy , however, amounts over 100,000 are normally given in 25,000 dinar notes. You can buy as low as 1000 dinars, HOWEVER to buy a MILLION dinars in 1000 notes, would cost you about 1700. So maybe 1/2in 1000 notes, 1/4 in 5000 notes and the rest in 25,000 notes.

I am going to try and save up here and there but hopefully cmkx hits soon, or even QBID (which has been sooooo good to me).

Even if it only went to a dime (the dinar that is) a million equalls 100,000 in currency... and come on... how sexy is having one million Iraqi Dinars in your portfolio or closet?!?!?hehehe...

-John
p.s. I cut and pasted my reply from the old thread but this posting gives you a nice start off to investigate...

Currently the price for 1 million dinars is between 1200-1400 depending upon which website/securities firm you go to. I doubt we'll get the cheaper $700 for a million since where on earth do we go to get the dinars?!? The Iraqi Bank of New York?!?!? lol, so we are stuck paying the middle men. However I am looking for less expensive places to buy the dinar but the lower priced ones seem a tad shady, so I don't know,lol...

Now here is the real kicker... If Iran is ever invaded, for whatever reason, their dollar/dinar will be nixed for a newer one. We can make a fortune just by waging war. Now imagine if we gave our troops a flat cut of the dinars, then tell them they can hold the dinars for two years, in which time the government would HAVE to keep them in circulation, under US orders. The dinar rises against OUR dollar, our troops then are allowed to unload their dinars at the market levels, allowing them to cash in. So for instance, we give each solider 3 million dinars, once the area is stablizied the value will rise. In theory we could reward even greater our troops who fight, giving them a huge financial obligation to make things work where they are fighting. I know it sounds sick, but seriously, If somebody said, hey you have to fight, but here are your three million dinars, if we can get this country back upto speed in a year and a half, and the value of the dinar is at a dime, you get three hundred thousand dollars in currency that you can trade back into dollars. Now if we do this in Syria, Iran, North Korea.... perhaps people will be more willing to 'kick ass' if they had a clear finicial 'reward' in sight.

-john


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pharmdman
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LOL.. ok, we'll use your thread...
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bauer
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Sounds good. I want to see the interim government be successful first.
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pharmdman
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well, they printed new money in Japan and Germany at the end of WWII.... i think i'm with you on this one... I just did a search on ebay, and it seems that you can get new, crisp bills of all denominations on there... i'm going to have to look into what the conversion fees are from some of the exchanges.. it might be cheaper to get them from ebay...
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brandnewtrader
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i am a novice, how would one BUY the dinar?
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JBCak47
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Lol, it doesnlt matter to me...

My sisters b/f who I talked into getting QBID told me about his friend who is buying Dinars. My sisters b/f is buying a million, that luckly @*^$%#$! I think there is potential here...

-John


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pharmdman
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quote:
Originally posted by brandnewtrader:
i am a novice, how would one BUY the dinar?

you could use a currency exchange.. .like in a major city or in an international airport, but you'll pay a hefty exchange fee.. or you could go to ebay


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pharmdman
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[url]http://search-desc.ebay.com/post-war-iraq_Paper-Money-World_W0QQsofocusZbsQQsbrftogZ1QQfrom ZR10QQcatrefZC6QQsatitleZpost-warQ20iraqQQsacategoryZ3411Q26catrefQ3DC6QQsotextsearc hedZ2[/url]

take the space out after the word "from" and paste into your browser.

[This message has been edited by pharmdman (edited June 10, 2004).]

[This message has been edited by pharmdman (edited June 10, 2004).]


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pharmdman
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oh nevermind... lol.... go to ebay... click on "browse" then on "coins" then on "paper money: world".. then search "post-war iraq"...
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YOuNgFettaChini
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Check it out: Buy dinar here these guys are professional. www.buydinar.com

P.S. I thought I was the only one jumping on this train...the site is very informative. GTLA!!!

------------------
Learn the difference between a rollercoaster and a ROCKET!!


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JBCak47
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if you do a yahoo! or google search for 'new iraqi dinars' there should be a few 'sponsor'
sites that pop up. Pharmhand told us ebay, which I also looked at, however DONT BUY THE ONES WITH SADDAM!!!! NO SADDAM DINARS!

I wonder if we could contact perhaps an american authority or iraqi fanicial reserve person (if there even is one yet) about sending our funds directly to the iraqi bank, maybe we could get them cheaper? I am not sure.

You know I have been offered to go to Pakistan for two weeks, the only thing I would have to pay for is the plane ticket...(I am being serious)

I could hitchhike from Lahore to Babylon right? I mean I would only have to travel through Afghanistan and Iran, but that shouldn't be too bad, right I'll just walk upto the Iraqi Bank on Baghdad street and whip out my American greenbacks and get us our dinars and march my butt right back to Lahore! You know what, I'll make our money increase ten fold. I can pick up a few pounds of opium when I make a pit stop in Afghanistan... then with opium in hand and dinars in pocket, I will come back here and live like a king, a PERSIAN KING! YES, YES THAT IS IT!

-JOHN


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Smctbone
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So let me get this straight...
You're saying we can buy dinar right now at its low value, either through ebay or currency exchange...and in a year or two or three we can go to the currency exchange and get $US for the dinar at its high value?

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bauer
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Man what they hey. I bought 2 million dinars on ebay for 1710. Cheaper then buydinar.com's 2600

[This message has been edited by bauer (edited June 10, 2004).]


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pharmdman
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quote:
Originally posted by Smctbone:
So let me get this straight...
You're saying we can buy dinar right now at its low value, either through ebay or currency exchange...and in a year or two or three we can go to the currency exchange and get $US for the dinar at its high value?

Yes... like after they're a competitive, oil-producing nation again...


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pharmdman
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quote:
Originally posted by bauer:
Man what they hey. I bought 2 million dinars on ebay for 1710. Cheaper then buydinar.com's 2600

[This message has been edited by bauer (edited June 10, 2004).]


where did you get that deal, bauer??!


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YOuNgFettaChini
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quote:
Originally posted by Smctbone:
So let me get this straight...
You're saying we can buy dinar right now at its low value, either through ebay or currency exchange...and in a year or two or three we can go to the currency exchange and get $US for the dinar at its high value?

Check it out!! Go here: www.buydinar.com
Informative Echange site: http://www.intrustbank.com/Business/International/HowTo018.aspx

P.S. My last post I meant GLTA...LOL!!

------------------
Learn the difference between a rollercoaster and a ROCKET!!


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JBCak47
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YOUNGFETTCHINI

Great post! They are a bit more pricey BUT the are a member of the better business buerua (sp?!)

they only take orders for 1 million or more...

Ebay looks like a great alternative, but you may get hit for s/h.

I found a site that allows you to buy in small notes, 1000,5000 10000 dinar notes. However each 1000 note is $1.70 american or 1 dinar for .0017 american... I mean if you only have 50 dollars, you can get like 40 1000 dinar notes, not a bad start, I mean 50 dollars a week and within six weeks you'll have almost 250,000 dinars and in small notes. I like the small note sbecause if the dinar goes to a penny, a 1000 note is equal to ten american dollars, at a dime, you basically have a one hundred dollar bill. versus having a 25,000 dinar note. I guess it all depends upon what you like big notes or smaller ones...

-John


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bauer
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quote:
Originally posted by pharmdman:
where did you get that deal, bauer??!

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=5703345151&ed=1087048143000&ssPageName=ADME:B:EOT:US:3

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kbpkt
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Very interesting... I am going to do some DD on this idea. It makes a lot of sense. One thing everyone has to consider is that the strength of a nations currency is backed by the confidence people have in that government and the ability to redeem thier currency for goods and services. I will post what I find.
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bauer
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I suggest you use ebay. So far it is the best deal. The link above is good. That same seller also sells in 1,000,000 dinar blocks.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=4369&item=5703485679

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JBCak47
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kbpt very true.
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YOuNgFettaChini
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quote:
Originally posted by JBCak47:
YOUNGFETTCHINI

Great post! They are a bit more pricey BUT the are a member of the better business buerua (sp?!)

they only take orders for 1 million or more...

Ebay looks like a great alternative, but you may get hit for s/h.

I found a site that allows you to buy in small notes, 1000,5000 10000 dinar notes. However each 1000 note is $1.70 american or 1 dinar for .0017 american... I mean if you only have 50 dollars, you can get like 40 1000 dinar notes, not a bad start, I mean 50 dollars a week and within six weeks you'll have almost 250,000 dinars and in small notes. I like the small note sbecause if the dinar goes to a penny, a 1000 note is equal to ten american dollars, at a dime, you basically have a one hundred dollar bill. versus having a 25,000 dinar note. I guess it all depends upon what you like big notes or smaller ones...

-John


Thanks!! One thing I have learned recently is never depend on one source of income. The key is having Multiple Streams of Income, at any given time.


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pharmdman
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The IRAQI dinar CANNOT be exchanged for US Dollars outside of IRAQ...

http://www.buydinar.com/faq.php

..how would you exchange it later? or would you hope that by then it would be recognized on the world markets?


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JBCak47
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lol, you could always pull what the people on ebay did, when it rises to a penny, sell it for .009 instead. They will send you the currency in dinars, you get them in hand. However as of yet no exchanges will exchange them, yet. However if it rises you could always sell them on ebay like those people did, or hold them until they are on the world markets... June 30th is not to far away, if they do decide to phase out this currency, perhaps we can still get in the newer-new dinars?

I still think this has potential and the middle men seem to be making money off the dinar...


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Breezer
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very interesting
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JBCak47
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lol watch me and Pharm single handedly raised the value of the Iraq dinar because of our allstocks posts, and we don't even have the dinars yet!!! lol...

-John


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Smctbone
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quote:
Originally posted by JBCak47:
lol, you could always pull what the people on ebay did, when it rises to a penny, sell it for .009 instead. They will send you the currency in dinars, you get them in hand. However as of yet no exchanges will exchange them, yet. However if it rises you could always sell them on ebay like those people did, or hold them until they are on the world markets... June 30th is not to far away, if they do decide to phase out this currency, perhaps we can still get in the newer-new dinars?

I still think this has potential and the middle men seem to be making money off the dinar...



And if they do fade out this currency, then the dinar we buy now will pretty much be worthless, right? (besides it's collectible value)


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tic_toc
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was wondering the same thing.
also how do i jump on the badwagon living in the UK?
quote:
Originally posted by Smctbone:

And if they do fade out this currency, then the dinar we buy now will pretty much be worthless, right? (besides it's collectible value)



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pharmdman
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quote:
Originally posted by Smctbone:

And if they do fade out this currency, then the dinar we buy now will pretty much be worthless, right? (besides it's collectible value)

well, when they phase out currency, there's always a period where the old can be exchanged for new... (unless you're the Confederate States of America and then you're SOL... LOL)... you'd just have to find a way to get it exchanged...


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JBCak47
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So far, that is the big question, HOWEVER they just can phase out the dinar in a single day, they do it over a period of months. Now the new dinar is said to have more security features then the american 20 dollar bill... WHY? This new dinar maybe around for a while, hence all the security features (in addition to prevent being copied) A large amount of money was used to make the dinars which have only been around since Oct. 2003. Less than ten months. Even if they do phase it out, the normal iraqi will slowly exchange the old money for the new. This happened in oct 2003 with the 'new dinar'. People were usuing saddam's money for a little while afterwards... The new dinars feature historical Iraqi individuals as well as historical geographical areas/buildings. The money shows Iraq's histroy on it, beelive it or not... whatever that is worth to you, versus the old dinar of Saddam's ugly mug.

-John


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JBCak47
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the first sentence should say "They just CAN'T"
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Smctbone
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1 IQD = 0.000676822 USD
1 USD = 1,477.49 IQD

(IQD = Dinar)
http://www.xe.com/ucc/convert.cgi


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bauer
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I got jipped then!

quote:
Originally posted by Smctbone:
1 IQD = 0.000676822 USD
1 USD = 1,477.49 IQD

(IQD = Dinar)
http://www.xe.com/ucc/convert.cgi



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GREGDOGG
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What happends when Bush drops a nuke, then there is no more Iraq...LOL
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Smctbone
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Sorry...that might be old. It looks like they are calling the new dinar NID (and the old one that was replaced IQD).

Here's something I found

New Iraqi Dinar (NID)
Presidential Order 13303 allows US Citizens to invest in the New Iraq. Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen

IRAQ (PRWEB) March 2, 2004 -- Investment in the new Iraq is guaranteed under the Presidential Order 13303 removing sanctions on investment in Iraq. The new order allows for a restructuring of the banking system in Iraq. US citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Business in Iraq.

Iraq has a new currency to replace Iraq’s two currencies, one of which was easily counterfeited and mostly circulated in a single denomination. Banks issue only the new currency and government employees paid in cash will receive their salaries in the new currency. Until January 15, 2004 the old and new currencies will circulate freely at a fixed exchange rate. Exchange between the old and new currencies is conducted at now charge at multiple exchange points around the country.

The other financial market structures are strong:

95 percent of all pre-war bank customers have service and first-time customers are opening accounts daily. Iraqi banks are making loans to finance businesses. The central bank is fully independent. Iraq has one of the world’s most growth-oriented investment and banking laws.

The new Iraqi dinar which is printed bu De La Rue company in the US and Great Britian, is valued at just 2 tenths of one cent today. The US treasury has a strong dinar policy and is working with the CPA (Coalition Provisional Authority) to reinstate a strong decentralized banking system in Iraq. By December 2004 there will be six Western Banks in Iraq and six Iraqi Banks outside Iraq in operation. In March Three banks were given licence to operate in Iraq, National Bank of Kuwait, HSBC Bank and Charter bank of England.
http://www.emediawire.com/releases/2004/3/prweb112888.htm


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