Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Thursday Evening Chat 3-24-16 Part 1 of 2
wmawhite says():I was asked this question: Do you think once the dinar is international we will be able to exchange IQD for USD at most banks or exchange centers in the US?
clay says to wmawhite():and the answer is ....
jarhead says():really ??
jarhead says():taking too long he's gotme worried lol
wmawhite says():first of all............Iraq already has swapped currencies with other countries, such as India.....therefore, the IQD is international.
However, is it internationally accepted? Mostly no. Once the CBI is Article 8 compliant more banks/countries will agree to exchnage the IQD. But again, banks have the choice whether or not to deal/exchange a country's currency.
~~~
Chat Room Excerpts & Highlights
Dinar Updates Thursday Evening Chat 3-24-16 Part 1 of 2
wmawhite says():I was asked this question: Do you think once the dinar is international we will be able to exchange IQD for USD at most banks or exchange centers in the US?
clay says to wmawhite():and the answer is ....
jarhead says():really ??
jarhead says():taking too long he's gotme worried lol
wmawhite says():first of all............Iraq already has swapped currencies with other countries, such as India.....therefore, the IQD is international.
However, is it internationally accepted? Mostly no. Once the CBI is Article 8 compliant more banks/countries will agree to exchnage the IQD. But again, banks have the choice whether or not to deal/exchange a country's currency.
~~~
wmawhite says():Those gurus that state that the IQD will be exchanged at all banks are factual wrong.
wmawhite says():I will give you an example.
_firefly_ says to wmawhite():Have to agree with you there !
Hutch says to wmawhite():as you have said, Art 8 is basically a seal of approval
msdiva says to wmawhite():i know for sure Wellsfargo said years ago they will not and i repeat will not sell or exchange the IQD
jarhead says():so do yall feel thats why all those dignitaries will be in iraq saturday...article 8 ?
wmawhite says():I spoke to several banks on the island of St. Marrten...in the Caribbean........I aske dthem if they exchange several European currencies and the answer was yes....because they have european tourist.
I aske dif they exchange the Japanese Yen.....and the answer was no....because there is no market for the Yen.....no tourist.
jarhead says():next ?
msdiva says to jarhead():im taking this meeting with a grain of salt i want to be excited but cant
jarhead says(4):does article 8 mean they r global or does the currency have to rise to do that
Woodywoodpecker says():msdiva.....i understand
wmawhite says():So, I point is, IMO the IQD will be in demend throughout the Middle East and parts of Europe....................however, some USA banks may not want to exchange the IQD initially, just as if they do not exchange many of the other 135 currencies in the world.
wmawhite says to jarhead():I have repeated numerous times what Article is and you what to know what????????LOL
msdiva says to wmawhite():so does this mean we may have to travel else where to exchange when the time comes
wmawhite says to jarhead():so, my point is*
jarhead says():jk jk
msdiva says to wmawhite():(y)
SoonRV says to wmawhite():wont these here? http://ift.tt/1Pv3TmA
http://ift.tt/1Pv3TmA
wmawhite says to jarhead():(y)
jeffjane says to wmawhite():Do you think an exchanger would exchange - Like Dinar Inc
_firefly_ says():IMF Executive Board Reviews Noncomplying Purchase by Iraq and Breach of Obligations Under Article VIII, Section 5 Press Release No. 13/464 November 21, 2013
_firefly_ says():The Executive Board of the International Monetary Fund (IMF) has reviewed a noncomplying disbursement by Iraq totaling SDR 297.1 million (about $453.7 million) that was made on March 22, 2011, following the completion of the second review under the 2010 Stand-By Arrangement (SBA) (see Press Release 11/90), and a breach of obligations under Article VIII, Section 5 of the IMF’s Articles of Agreement.
The SBA was approved in February 2010 for a total amount of SDR 2.38 billion (about $3.63 billion) to cover Iraq’s balance of payments needs (see Press Release 10/60). Iraq received disbursements amounting to the equivalent of SDR 1,069.56 million (about $1.63 billion). The SBA expired in February 2013.
wmawhite says to jeffjane():Very possible.............but can you imagine the huge amounts of money a broker/exchanger would need to have on account just to start the process.
jeffjane says to wmawhite():I understand
jarhead says():the only thing that still loses me is why borrow............JUST REVALUE
jeffjane says to wmawhite():let me know where you are going to exchange so I follow
_firefly_ says():The SBA expired in February 2013.
SoonRV says to wmawhite():wont these here? http://ift.tt/1Pv3TmA
http://ift.tt/1Pv3TmA
wmawhite says to jarhead():Revaluing does not change why they are barrowing...........they are two separate issues..
wmawhite says to jarhead():borrowing
jarhead says():im tickled we got DUCE
jarhead says():yes iraq borrowing from imf
wmawhite says to jeffjane():that info will be everywhere....
Caravaggio says():Or one could deposit in a multi- currency account, and withdraw in whatever currency one wished?
jarhead says():excellent advice
R&R says to jarhead():IMO all the steps will "move them" into Art 8 compliance, and once in compliance, the IMF or Iraq (or both) will announce officially they are Art 8 compliant ... and Section 4 of Art 8 requires "the convertibility of foreign balances" (i.e., int'l tradability)
jarhead says():not economically saavy
jarhead says():never have been
Hutch says():My favorite mythical creature?.... The honest politician
Hutch says():I don't find it hard to meet expenses. They're everywhere.
wmawhite says to jarhead():Iraq is barrowing in order to meet the revenue needs of the 1026 budget..................
wmawhite says to jarhead():borrowing.........
jarhead says():but wouldnt rv make it better...........idk
wmawhite says to jarhead():no......they still don't have enough to pay the school teach, the police, etc.
wmawhite says to jarhead():RV doesn't change how much revenue is in the country........1IQD is still equal to 1 IQD after a RV
jarhead says):even if their value is 3x the US dollar they r using ?
jarhead says():oh i get it jarhead says():duh
msdiva says to wmawhite():okay im confused for sure now
msdiva says to wmawhite():who will benefit from the RV us or IRAQ
jarhead says():both
wmawhite says to jarhead():But they are not paying the teachers in the USA.........we are talking about in Iraq....there is no rv in Iraq it is only outside of Iraq
jarhead says():they will get les iqd
jarhead says():less
msdiva says to jarhead():are you sure
msdiva says to jarhead():or JMO
jarhead says():because of change in purchasing power
wmawhite says to jarhead():Much is $1 worth in the USA?
jarhead says():$1
jarhead says():i get it
wmawhite says to jarhead():Answer: $1
wmawhite says to jarhead():How much is $1 worth in France?
jarhead says():uh
jeffjane says to wmawhite():LOL - 1 IQD is still 1 IQD in Iraq discussion again
wmawhite says to jarhead():About $0.80......
wmawhite says to jarhead():How much is 1 Euro worth in France? 1 Euro.
jarhead says():the iqd will b worth more thereforethe individual will get less of the iqd notes once value chand=ges
jarhead says():in country
msdiva says to wmawhite():So could this be a 1 to 1
jarhead says():no
jarhead says():if they pay right now$3 US dollars for a loaf of bread
jarhead says():if it goes to $3 to 1 dinar then they would pay 1 dinar for the loaf
msdiva says to jarhead():so you saying no 1 to 1
jarhead says():look sweetie
jarhead says():^^
jarhead says():yes it will b more than 1 to 1
jarhead says():it has no choice
jarhead says():if im wrong im totally lost 8-|
jd says():When this Rvs.Why cant a Iraqian pay in Dinar for a new car and drive it across the border and sale it for USD and then realize a hudge gain ?
wmawhite says to jd():He could.......................
Baxter1243 says():JD... thats a great question... (y)
jarhead says():if he took the US dollars back to iraq it would be the same money he had to buy it
chickadee says():Just came in on tail ehd but I called Bank of America a few months ago and they said they exchange Dinar as long as you had a account.
wmawhite says():I will give you an example.
_firefly_ says to wmawhite():Have to agree with you there !
Hutch says to wmawhite():as you have said, Art 8 is basically a seal of approval
msdiva says to wmawhite():i know for sure Wellsfargo said years ago they will not and i repeat will not sell or exchange the IQD
jarhead says():so do yall feel thats why all those dignitaries will be in iraq saturday...article 8 ?
wmawhite says():I spoke to several banks on the island of St. Marrten...in the Caribbean........I aske dthem if they exchange several European currencies and the answer was yes....because they have european tourist.
I aske dif they exchange the Japanese Yen.....and the answer was no....because there is no market for the Yen.....no tourist.
jarhead says():next ?
msdiva says to jarhead():im taking this meeting with a grain of salt i want to be excited but cant
jarhead says(4):does article 8 mean they r global or does the currency have to rise to do that
Woodywoodpecker says():msdiva.....i understand
wmawhite says():So, I point is, IMO the IQD will be in demend throughout the Middle East and parts of Europe....................however, some USA banks may not want to exchange the IQD initially, just as if they do not exchange many of the other 135 currencies in the world.
wmawhite says to jarhead():I have repeated numerous times what Article is and you what to know what????????LOL
msdiva says to wmawhite():so does this mean we may have to travel else where to exchange when the time comes
wmawhite says to jarhead():so, my point is*
jarhead says():jk jk
msdiva says to wmawhite():(y)
SoonRV says to wmawhite():wont these here? http://ift.tt/1Pv3TmA
http://ift.tt/1Pv3TmA
wmawhite says to jarhead():(y)
jeffjane says to wmawhite():Do you think an exchanger would exchange - Like Dinar Inc
_firefly_ says():IMF Executive Board Reviews Noncomplying Purchase by Iraq and Breach of Obligations Under Article VIII, Section 5 Press Release No. 13/464 November 21, 2013
_firefly_ says():The Executive Board of the International Monetary Fund (IMF) has reviewed a noncomplying disbursement by Iraq totaling SDR 297.1 million (about $453.7 million) that was made on March 22, 2011, following the completion of the second review under the 2010 Stand-By Arrangement (SBA) (see Press Release 11/90), and a breach of obligations under Article VIII, Section 5 of the IMF’s Articles of Agreement.
The SBA was approved in February 2010 for a total amount of SDR 2.38 billion (about $3.63 billion) to cover Iraq’s balance of payments needs (see Press Release 10/60). Iraq received disbursements amounting to the equivalent of SDR 1,069.56 million (about $1.63 billion). The SBA expired in February 2013.
wmawhite says to jeffjane():Very possible.............but can you imagine the huge amounts of money a broker/exchanger would need to have on account just to start the process.
jeffjane says to wmawhite():I understand
jarhead says():the only thing that still loses me is why borrow............JUST REVALUE
jeffjane says to wmawhite():let me know where you are going to exchange so I follow
_firefly_ says():The SBA expired in February 2013.
SoonRV says to wmawhite():wont these here? http://ift.tt/1Pv3TmA
http://ift.tt/1Pv3TmA
wmawhite says to jarhead():Revaluing does not change why they are barrowing...........they are two separate issues..
wmawhite says to jarhead():borrowing
jarhead says():im tickled we got DUCE
jarhead says():yes iraq borrowing from imf
wmawhite says to jeffjane():that info will be everywhere....
Caravaggio says():Or one could deposit in a multi- currency account, and withdraw in whatever currency one wished?
jarhead says():excellent advice
R&R says to jarhead():IMO all the steps will "move them" into Art 8 compliance, and once in compliance, the IMF or Iraq (or both) will announce officially they are Art 8 compliant ... and Section 4 of Art 8 requires "the convertibility of foreign balances" (i.e., int'l tradability)
jarhead says():not economically saavy
jarhead says():never have been
Hutch says():My favorite mythical creature?.... The honest politician
Hutch says():I don't find it hard to meet expenses. They're everywhere.
wmawhite says to jarhead():Iraq is barrowing in order to meet the revenue needs of the 1026 budget..................
wmawhite says to jarhead():borrowing.........
jarhead says():but wouldnt rv make it better...........idk
wmawhite says to jarhead():no......they still don't have enough to pay the school teach, the police, etc.
wmawhite says to jarhead():RV doesn't change how much revenue is in the country........1IQD is still equal to 1 IQD after a RV
jarhead says):even if their value is 3x the US dollar they r using ?
jarhead says():oh i get it jarhead says():duh
msdiva says to wmawhite():okay im confused for sure now
msdiva says to wmawhite():who will benefit from the RV us or IRAQ
jarhead says():both
wmawhite says to jarhead():But they are not paying the teachers in the USA.........we are talking about in Iraq....there is no rv in Iraq it is only outside of Iraq
jarhead says():they will get les iqd
jarhead says():less
msdiva says to jarhead():are you sure
msdiva says to jarhead():or JMO
jarhead says():because of change in purchasing power
wmawhite says to jarhead():Much is $1 worth in the USA?
jarhead says():$1
jarhead says():i get it
wmawhite says to jarhead():Answer: $1
wmawhite says to jarhead():How much is $1 worth in France?
jarhead says():uh
jeffjane says to wmawhite():LOL - 1 IQD is still 1 IQD in Iraq discussion again
wmawhite says to jarhead():About $0.80......
wmawhite says to jarhead():How much is 1 Euro worth in France? 1 Euro.
jarhead says():the iqd will b worth more thereforethe individual will get less of the iqd notes once value chand=ges
jarhead says():in country
msdiva says to wmawhite():So could this be a 1 to 1
jarhead says():no
jarhead says():if they pay right now$3 US dollars for a loaf of bread
jarhead says():if it goes to $3 to 1 dinar then they would pay 1 dinar for the loaf
msdiva says to jarhead():so you saying no 1 to 1
jarhead says():look sweetie
jarhead says():^^
jarhead says():yes it will b more than 1 to 1
jarhead says():it has no choice
jarhead says():if im wrong im totally lost 8-|
jd says():When this Rvs.Why cant a Iraqian pay in Dinar for a new car and drive it across the border and sale it for USD and then realize a hudge gain ?
wmawhite says to jd():He could.......................
Baxter1243 says():JD... thats a great question... (y)
jarhead says():if he took the US dollars back to iraq it would be the same money he had to buy it
chickadee says():Just came in on tail ehd but I called Bank of America a few months ago and they said they exchange Dinar as long as you had a account.
wmawhite says to jd():and then what happens when he returns to Iraq and exchanges again back into IQD?
jarhead says():exactly
wmawhite says to jd):He is back where is started and probably a little more poorer because o fthe spread.
jarhead says():yep
rcookie says():TODAYS NEWS ALONE....AMNESTY LAW DONE AND READY FOR VOTE....
OL MINISTER ABDUL MAHDI RESIGNS....IRAN PRESIDENT ROUHANI PRESENCE IN IRAQ THIS WEEKEND ADDS TO LIST OF DIGNITARIES....
US MARINES ANNOUNCE EXPANDED COMBAT ROLE IN IRAQ....TEXT OF CONSCRIPTION LAW RELEASED......PRIVATIZATION OF IRAQ NATIONAL DRILLING COMPANY ANNOUNCED.......
4 ANNOUNCEMENTS IN 2 DAYS BY CBI....LETTER FROM ALAK OUTLINING HIS TENURE AS CBI GOVERNOR WITH COMPLETELY SHOCKING REVEALMENTS....
TRADE ANNOUNCES REDUCED PRICES ON CONSTRUCTION MATERIALS AND COMPLETE FINANCING THIS WEEKEND...CBI ANNOUNCES FUNDING SUPPORT FOR HOUSING PROGRAM OF ALL TYPES....
MOU OF BANKING COOPERATION BETWEEN CENTRAL BANK GOVERNORS IRAQ & IRAN....
MOSUL 3 AXIS OFFENSIVE OFFICIALLY ANNOUNCED BY IRAQI MILITARY....
MOU IN ENERGY SIGNED WITH SIEMANS COMPANY...IRAQ TRANSPORT MINISTER JABR OFFICIALLY RESIGNS....IRAQ COMPLETES 2 MORE IMF METAC WORKSHOPS...
2ND IN SERIES OF 11 BONDS AUCTION OCCURS...BAGHDAD ANNOUNCES INSTALLING "ENTITILEMNT COMPANIES"
jarhead says():exactly
wmawhite says to jd):He is back where is started and probably a little more poorer because o fthe spread.
jarhead says():yep
rcookie says():TODAYS NEWS ALONE....AMNESTY LAW DONE AND READY FOR VOTE....
OL MINISTER ABDUL MAHDI RESIGNS....IRAN PRESIDENT ROUHANI PRESENCE IN IRAQ THIS WEEKEND ADDS TO LIST OF DIGNITARIES....
US MARINES ANNOUNCE EXPANDED COMBAT ROLE IN IRAQ....TEXT OF CONSCRIPTION LAW RELEASED......PRIVATIZATION OF IRAQ NATIONAL DRILLING COMPANY ANNOUNCED.......
4 ANNOUNCEMENTS IN 2 DAYS BY CBI....LETTER FROM ALAK OUTLINING HIS TENURE AS CBI GOVERNOR WITH COMPLETELY SHOCKING REVEALMENTS....
TRADE ANNOUNCES REDUCED PRICES ON CONSTRUCTION MATERIALS AND COMPLETE FINANCING THIS WEEKEND...CBI ANNOUNCES FUNDING SUPPORT FOR HOUSING PROGRAM OF ALL TYPES....
MOU OF BANKING COOPERATION BETWEEN CENTRAL BANK GOVERNORS IRAQ & IRAN....
MOSUL 3 AXIS OFFENSIVE OFFICIALLY ANNOUNCED BY IRAQI MILITARY....
MOU IN ENERGY SIGNED WITH SIEMANS COMPANY...IRAQ TRANSPORT MINISTER JABR OFFICIALLY RESIGNS....IRAQ COMPLETES 2 MORE IMF METAC WORKSHOPS...
2ND IN SERIES OF 11 BONDS AUCTION OCCURS...BAGHDAD ANNOUNCES INSTALLING "ENTITILEMNT COMPANIES"
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