The Iraqi Dinar...........

[beermantm]

This information is compiled for the purpose of maximizing the speculation of the New Iraq Dinar as well as attempting to cover all possible angles of the Dinar as an investment vehicle. Through-out history, many people have become rich off of currency speculation, whether it follows war such as the case with Germany, Japan, and Kuwait or off of undervalued currency such as what philanthropist George Soros did in 1992 with the Pound Sterling. http://en.wikipedia.org/wiki/George_..._of_England.22

Iraq is NOT the only country that currently has an “undervalued” currency; but they have the MOST potential for profit if they can get their act together. This is where the eBay and other sellers all come into play. WHY aren’t they selling the Colombian Peso? It is valued at: 1 Colombian Peso = 0.0004325 US Dollar
1 US Dollar (USD) = 2,312.00 Colombian Peso (COP) and they export a lot of oil as well. http://www.oanda.com/convert/classic
**You can also use the above link to historically track currencies including the Iraq Dinar. It is pretty self-explanatory, just plug-in the (2) currencies and enter a date!!** Look at the Iraq Dinar on 06/29/04 and then 06/30/04…

The thing with Iraq is that Saddam Hussein controlled the output/printing of Dinar and the exchange rates you see are from BEFORE Gulf War I. If you were in his “inner-circle”, you were able to get the $3.35 USD to 1 IQD…if you were Joe Iraqi citizen, your Dinar was worth 1 Dinar to$.33 (cents) USD. After Gulf War I, heavy sanctions were applied to Iraq and this further depressed the Dinar to 3-5,000 IQD to 1 USD, unless of course you were Saddam or a favorite accomplice. The eBay sellers are not outright lying, just withholding some of the truth!!! Libya is another example. We have had sanctions and embargos on them since the Reagan era and the Libyan Dinar is worth US .77 cents to 1 Libyan Dinar. Most countries with a Dinar currency are oil rich and are valued higher than the U.S. Dollar, that is where the gamble is with Iraq… IF they can overcome insurgency, political/religious differences, get much of their debt forgiven, etc. and come together to be the “Breadbasket of the world” again??? The whole idea of “debt forgiveness” is also NOT a surefire sign that the Dinar will increase as one eBay seller states in his auction. The countries that “forgive” debt are losing millions of dollars and interest by doing so. It makes for those same countries to be more cautious to do business with Iraq again. Think about it… Would you want to loan your best friend money if he never paid you back the first time and someone else, i.e., U.S. & Britain pressured you into “forgiving them” of owing it to you???
The eBay and online seller’s also like to use the Kuwait Dinar as an example of what Iraq might do; but it all hinges on IF they can come to some agreement among themselves, which group will dominate, and will they favor the U.S. and the new “Bremer Dinar” OR will they want a currency of their own devise?? As close as they are to Kuwait geographically, they are actually 3 separate countries of people trying to function within predetermined borders; much more complex a situation there. In addition, Kuwait was able to rebound easier as it had much more infrastructure still in place at the end of Gulf War I and they had a lot of capital invested elsewhere in the world, earning more money than they could ever make on oil alone. Take a look at Venezuela. Oil is their biggest export and their currency is about 100,000 to $58.00 USD (they have a somewhat stable, unified government and more infrastructure in place than Iraq will have for years).

more to come

[beermantm]

**Back to eBay, you can buy 100,000 Dinar for roughly $100.00+ and shipping is usually 8-10% more added to your total purchase!!! Under normal eBay circumstances, the high shipping gouge alone would certainly earn someone a fast “Negative” feedback; but not with the Dinar!! I have bought Dinar off eBay as I am a gambler of sorts and the odds are favorable given the vast resources of Iraq. Due to the fact that it is now illegal to take Dinar out of Iraq, if you want some, you have to pay the Piper, i.e., the eBay Dinar sales are on the “Black-Market”. The eBay sellers are making at least 35-40% off each sale as 100,000 Dinar is really worth about $68.00 U.S. **Anytime you can even make 20% turn-around you are said to have done well, so they are really making bank!!! They could care less at this point what will become of you or the Dinar you buy as they have made their initial investment back and a hefty profit! Think of it this way… if you had something that was soon going to increase in value 4000%, Would you sell it? NO WAY, You would be buying AS MUCH OF IT AS YOU COULD!!**

**I do not wish to undermine the eBay sellers with this information, but rather add another avenue or two to the Dinar speculation.** If you want more paper currency (I bent-over for 2 million), I would recommend buying smaller denominations 50s, 250s, 500s, and 1,000s. Everyone is beginning to “dump” their 25,000 notes as there would be no possible use for these (except maybe large commercial transactions) if the Dinar really escalated in value. And everytime you cashed one in, the Tax Man would be knocking on your door with his hand out. Last month, there were about 95 Dinar eBay auctions running and now there are over 250 (most 25,000 notes) on any given day, and keep in mind that the amount of Dinar available has not increased, so people are dumping.
For Paper Dinar purchases at eBay, I do highly recommend this seller: “ahealthway”, Michelle has not only become a good friend on this ride; but she is most importantly HONEST!! I have heard from too many about how they were ripped-off by other eBay Dinar sellers. It was recently discovered that some of the internet Dinar sites are owned/operated by the same group using different names and page designs. If one of their sites is getting a bad rap, they are still in business, often pricing slightly off from one another to give the impression they are competitors! Some dealers use “Peter’s” payment to pay for “Paul’s” order and then suddenly shut-down leaving the last customers with no Dinar or refund! Some sites even set-up to collect payments with no intention of shipping Dinar. They keep pushing the order ship date back, citing customs problems, or Dinar shortages, etc. After a month or 2 of run-around they will issue a refund; but have held all that money in an account earning interest that they keep turning around. If you figure most Dinar orders can be for several thousand dollars each...that adds up!
**Bottom-line remains, “Be diligent and don’t put ALL your eggs into one basket”!!!

[beermantm]

Why dump the Paper Currency? GOOD question and glad you asked!!! First off, Iraq Dinar is the first wave of fiat (unbacked paper) money flooding into the resurrected economy of Iraq. Right now, Iraq’s biggest export is the Dinar...Why back it with value if you can print as much as you’d like and lose nothing selling it!! Many other things can occur with paper money like: another currency exchange. Say the Iraqi Government decides that too much has left the country due to speculation and to counter this it’s best to exchange for a “NEWER”, New currency. Better get your Passport ready so you can fly to Iraq and exchange your crisp, new eBay bills…CHOP, CHOP!! The other thing that could be done is known as “Shaving Zeros”!! This where they take your new, crisp, 25,000 Dinar and make it worth 25 Dinar, your 10,000 note is now a 10 Dinar. Okay, that don’t seem bad; but say you were lucky on an auction and bid just at the last second and won that 25,000 note for $27.00 USD and the eBay seller wasn’t too greedy, only charged you $3.00 to ship it, so that is $30.00 USD you invested. Now, it’s the year 2008 and the Central Bank of Iraq feels that they have applied the controls needed to NOT go Bankrupt due to all the speculators running to cash in and they decide to peg the Dinar at 1 IQD to $1.00 USD, you now have a note that cost you $30.00; but is only worth $25.00  To add insult to injury, the Banks and Exchange service counters will charge you a fee as well to buy your Dinar!! If your money is in a Bank account, you’re not subject to a paper currency exchange or zero-shaving, as your account balance is an electronic figure and is protected 
Some might argue that buying the Paper currency is helping to fund (loaning money to) the Central Bank of Iraq with Dollars, Euros, etc., that will allow them to “pay us back greatly in the future”. That is true to the point if you are in Iraq buying direct; but what you purchase on eBay is second and third generation, the only ones profiting are the individual sellers. The fact is the Central Bank of Iraq could set the price tomorrow and would be able to pay all the people who came forward to collect. The way money is made by governments is really sleight-of-hand, smoke & mirrors. For example in the U.S. we have commercial banks like the Federal Reserve that create money out of nothing — and collect interest on it — by multiplying every dollar deposited nine times. This amazing feat is accomplished through the device of fractional reserves, whereby the Fed allows 90 percent of deposits to be loaned out. As deposits become loans and loans become deposits, this process repeats with smaller numbers each time around. For instance, $1 million in government money (first wave) to $900,000 (second wave), which gives birth to $810,000 (third wave), etc., until the process plays itself out. Thus, the banking cartel creates an amount of money that is nine times the amount of the original government debt that made the process possible. When the original debt is added in, the Federal Reserve and the commercial banks together have created approximately ten times the amount of the underlying government debt. Since this newly created money causes the purchasing power of all money to decline, the resulting rise in prices is, in reality, a hidden tax. So essentially, without realizing it, Americans have paid over the years, in addition to their federal income taxes and excise taxes, a completely hidden tax equal to approximately ten times the national debt! The U.S. is a major player in setting-up the new Iraqi economy, so if it’s true that: “PEOPLE DON’T CHANGE; THEY JUST BECOME MORE OF WHAT THEY ALREADY ARE”, then why would we expect Iraq’s economy to be designed much different than our own?? All the countries that have forgiven Iraq of old debt have lost, and that goes directly against the cycle of money. To understand the game better, let’s take a reality check in understanding how the U.S. Fed protects and enriches the banking brotherhood in the international arena. The game our Insiders are playing makes the Rothschilds look like novices. Here it is in a nutshell: The game starts with a mammoth loan (created out of nothing through the magic of fractional reserves) from (Citicorp, Chase Manhattan, Bank of America, etc.) to a Third World country with scant means of servicing the debt much less ever repaying the principle. Are these top bankers stupid? Hardly; this is the kind of loan these bankers love, since they make their money from interest on the loan, not on repayment of the loan. They prefer the loan never to be repaid. They know they can’t lose because the Federal Reserve guarantees that massive loans that go into default will not be allowed to seriously affect the issuing bank (too big to fail) because this would “disrupt the entire economy." Since the System makes it profitable for banks to make large, unsound loans, that is the kind of loans banks will make. Furthermore, it is predictable that most unsound loans will go into default." Sure enough; pretty soon default threatens. The bank creates additional money out of nothing and lends that so its interest stream continues on both the original loan plus the new loan (the “roll-over” play). At the next crisis, the bank creates still more money out of nothing to cover the interest on both loans plus an additional amount for the borrower to spend freely (the “up-the-ante” play). Finally the bank agrees to a lower interest rate and a longer period for repayment (the rescheduling" play). Eventually it is time for the “Final Maneuver.” Congress agrees to guarantee future payments and the whole mess is shifted to the backs of U.S. taxpayers while the borrower is trapped into an IMF “austerity” program that makes an “end run” around his sovereignty.
Now money moves through various foreign aid channels to the deadbeat borrower, who continues to pay perpetual interest to the bank. Almost all of this money is generated by the Federal Reserve; as it moves out into the economy it dilutes the value of the money already there. The average Americans, have no idea they are footing the bill to enrich the insider bankers.

[beermantm]

This is where the New Iraq Dinar BIBLE is being written minute-by-minute. There are folks here that have over 100 million Dinar a piece, so of course we all want it to succeed and also to maximize its potential return, so we may truly call it an “investment”. We spent hours emailing and calling banks in and around Iraq for the purpose of buying Dinar at the rate set by the CBI (Central Bank of Iraq), rather than paying the inflated eBay prices. Only one response was received and that was from Al-Warka Investment Bank. Since we have opened accounts, this bank has been outperforming even the largest banks in Iraq (see): Iraqi Bonds

****BANK ACCOUNT INFO.
To open a bank account, you need a photo ID (with your address and signature) and also to form a letter (see below) requesting that an account be opened for you. 1)You need to type the letter. 2) Print it out. 3) Sign it. 4) Scan and save as a jpeg. 5) Scan and save ID as jpeg. Once this is done, attach them to an email and send to these addresses with a subject like “Please open new account”:
**For any documents to open an account, send your e-mails to Mrs. Mena Sabah and copy Mr. Issa:
To Mrs. Mena Sabah c.accounts@warkainvestmentbank.com

Cc Mr. Issa: ifrd@warkainvestmentbank.com **

Example of LETTER :

I, Xxxx X. Xxxxxxxx, authorize Al-Warka Investment Bank to draw from my U.S. Dollar account (current or savings) in the above Bank (Al-Warka Investment) and exchange the U.S. Dollar into Iraq Dinar according to the price fixed by the Central Bank of Iraq at that day, and deposit it into my Iraqi Dinar account at the said bank.

Xxxx X. Xxxxx (name & address typed) ***and after you print-out, sign, then scan and send.***

123 Maple Lane
Hooterville, Virginia. 329XX

FYI **This letter does NOT allow them to access any of your current U.S. or other Countries bank accounts!
This letter only authorizes them to withdraw USD you send to them, exchange to Dinar and deposit it into YOUR Dinar account with them! It actually combines steps and saves time from you having to get your account numbers, fund your account, and then send an authorization for them to buy for you.
IF the Dinar ever increases in value and you want to cash some out or maybe you need some of your deposit back, you will have to send again your photo ID (matching your original), signed authorization stating you would like to withdraw funds and then you would need to provide routing #’s to your bank. I would recommend setting-up a separate account at your bank for receiving wires and then removing the money as soon as it hits to other accounts you may have for your normal banking business!

For any question or information you need to ask about, send your e-mails to :
Info@warkainvestmentbank.com

For any requests for services like exchanging , bank statements, stocks ,etc., send your e-mails to :
c.services@warkainvestmentbank.com

For any information concerning Iraq Stock Exchange e-mail:
isx@warkainvestmentbank.com

With everyone sending emails w/files attached, it eats up a lot of space on the other end and responses were averaging 8-20 days in July of 2004 when I set-up my account…Patience is a virtue here!!! OR You may now send a request by mail: Below are two emails re: sending documentation via FedEx.

I also asked USPS and they do mail to Iraq (Priority International)
Some might prefer mailing documentation rather than using email.

Subject: Dear Mr. XXX X.XXXX,
Date: Wed, 01 Dec 2004 18:38:47 +0000

Dear Mr. ----- X. -------,
I’m so sorry for the delay .
We do accept mails from FedEx you can send your documents to our bank
address ( just write Attn Miss Randda B. AlShakir ) :

Head Office
Baghdad – Iraq
Hay Alwihda – Sec. 902 – 14th St.
P.O. Box : 3559 Elwiya

Best regards and have a nice day .
Randda
WIB


The best time to send is on a Tuesday or Wednesday at about 11:30p.m. EST, as Iraq is 8 hours ahead of the U.S. your email will arrive during their business hours. Their weekend days are also different from ours (Friday-Saturday, rather than Saturday and Sunday). You will receive a response with your account numbers, one for USD and one for Iraq Dinar. She will also send info. on how to wire funds from your bank. Currently, you must use an intermediary bank (99% of us have used Housing Bank for Trade & Finance (Amman, Jordan). Their (Housing bank) fee is $38.11 USD to handle the transaction. They will email you when your money is received and let you know your balances. It is FREE to open an account with Warka and it will remain open for 6-months with NO $$ in it, so you will have some time to research more if you desire. The USD account will earn 3% interest and the Dinar account is currently 6%. Therefore, on 1,000,000 Dinar, you earn 60,000 Dinar a year (compounding)!!! Imagine if it gets to a good rate, just have the interest converted and wired back every couple months  The current exchange rate can be monitored at many sites, I gave you one previously, here are some more as well as some general info. links:
U.S. Dollar to Iraqi Dinar Exchange Rate - Yahoo! Finance
XE.com - Universal Currency Converter
iraqi dinar value | will the iraqi dinar go up soon

http://japan.usembassy.gov/e/p/tp-20031024a8.html

Treasury Reporting Rates of Exchange


****STOCK MARKET INFO.

Once your accounts are funded and Dinar converted, you can send Randda your picks for the ISX (Iraq Stock Exchange) if you wish to participate. It is not open to foreign investors at this time; but you are beating the rush as your picks will already be in the hands of a Warka trader the day it opens!!! Your Dinar remains in your account until then earning that interest. Also, just pennies will keep your USD account open as there are not fees being taken at this time like a U.S. Bank!!! A stock request letter would be formed (see below) and again print-out, add signature, and scan/attach to email:

ATTENTION : Date 9-26-04
Miss Randda B. Al-Shakir
IRD (International Relations Department)
Al-Warka Bank

I, ****** ____________________ Authorize Warka Bank to withdraw funds from my current Iraq Dinar Account #
For stock purchases of listed companies the same day that Foreign investors are permitted to purchase stocks on the ISX .

Stocks I wish to purchase when available for trade to the Foreign Public are as follows:
Each company listed below I want to buy 50,000 dinars worth of stock in each company.
1. stock # 10032 Kerbala Industries = 50,000 dinars
2. stock # 10028 Iraqi Petrochemicals = 50,000. dinars
3. stock # 31003 Ishtar Hotel = 50,000 dinars
4. stock # 31011 Baghdad for transports = 50,000 dinars
5. stock # 11008 Alkindi for Inoculations = 50,000
6. stock # 11017 Modern Paints = 50,000 dinars
7. stock # 11005 Chemical Products = 50,000 dinars
8. stock # 11001 Baghdad soda = 50,000 dinars
9. stock # 11025 Clothe Finished Products = 50,000 dinars
10. stock # 11004 Light Products = 50,000 dinars
11. stock # 10015 Almansoor for Medicine = 50,000 dinars

Total invested in dinars = 550,000 dinars

Each of the following companies listed below I want to purchase 75,000 dinars worth of stock for each company listed below:
1. stock # 40002 Baghdad Bank = 75,000 dinars
2. stock # 20012 Certified Seeds = 75,000 dinars
3. stock # 31009 Baghdad Hotel = 75,000 dinars
4. stock # 31020 Transport Oil Products and ??? = 75,000 dinars

Total invested in dinars = 300,000 dinars

* Grand total of invested dinars = 850,000 dinars *

The balance of dinars please allow 2,000 dinars in the current account and the remaining dinars into the Savings Account #.

Thank you Miss Randda for your time and attention to the customer needs. Please send return statement with all the current balances for each account . If there are any problems or questions please contact me ASAP and I'll respond ASAP. Thank you again.
Best regards,
Mr. ******


As not to bump this thread here is more info on the Iraq situation.

http://www.defenselink.mil/pubs/pdfs/9010Quarterly-Report-20061216.pdf