American Contractor

Cash Dinar speculators have always amazed me.

Many have proven themselves to be diligent researchers of news articles & columns, about the Iraqi economy and the specifically the Dinar.

They are quick to point out a few salient points in these news stories that defend their particular thesis of “the Dinar revaluing to it’s historical exchange value versus the USD”, or “why a lop won’t help the average Iraqi citizen”.

However, I find it quite bizarre the vast majority of these speculators completely ignored the gap between the U.S. laws about investing in Iraq, and the Iraqi laws about their restrictions on removing their currency from their country. So much for due diligence!

When something is reported or printed that is not in line with there current RV program the information is always misconstrued or spun to fit the current agenda or discarded has not from a credible source.

The tactics are the same on every dinar forum. Many have jumped on this dinar bandwagon by almost someone who failed to do the proper research of information from the host country (Iraq) laws on the books.

In the Newsweek article you have a quote from the deputy governor of the Central Bank of Iraq Mr. Mohammad (who is still there at the CBI by the way) stating that it is illegal to remove the dinars from Iraq. However, you are always going to have people say the USA has not said it is not illegal because Bush said we can invest in Iraq. Referring to the Presidential order in May 2003.

No where in the Bush executive order mentions the word dinar. The executive order states to invest in Iraq. No where does it say to divest in Iraq.

When your on a populated dinar forum I can see how someone with limited skills can be very persuaded to purchase smuggled dinars in the hopes of being wealthy one day. Not knowing that as soon as the Iraqi government becomes more stabilized changes and enforcement of the countries currency will be observed by other sovereign governments.

With all the emails being sent to CBI officials, J. Reed, private and state banks, GoI officials because they are running scared after reading information from a posting or a blog site it will all work against them as it brings more light and unwanted attention to all the cash dinar speculators and illegal proxy companies participants then ever before.

One poster on a dinar forum (CowPoke) whom is ill advised stated he had called J. Reed. Doing such as well as other forum members with there onslaught of emails and phone calls has unintentionally brought attention to themselves and their activity.

I love it when the Dinaraholics talk about their impending riches.

There have been many discussions about the amount of dinar in the hands of speculators. Many think they are part of a small club and the numbers are in the low billions for dinars in speculators hands.

Did you catch this part…. “According to Ahmed Muhammad, a deputy governor of Iraq's central bank, roughly half the 4.5 trillion new dinars have been removed from domestic circulation, either stashed away at home or smuggled out for sale abroad”

So about 2.25 trillion of the original 4.5 trillion found it’s way into speculators hands. How much of the additional 15 trillion that the CBI has introduced is in the hands of speculators? Even if it’s only another 2.25 trillion (which I believe is a VERY low estimate) that means there are 4.5 trillion dinars in the hands of speculators.

The CBI has $21 billion in reserves. LOL… so if the IMF CBI GOI World Bank and all are ok with Iraq bankrupting itself, the Dinar can be revalued to $.005 or ½ a cent. Of course that would leave them with ZERO currency reserves to back the other 15 trillion dinars out there…. Making them virtually worthless.

Dave, I just cringe when I read threads like “what will you tell your boss when it RV’s”, or “where will you build your mansion when it RV’s”. It reminds me of watching a comedian bomb on stage. You just want to crawl under a table, so you don’t have to watch.

AC, before you go accusing me of being ill advised, I would suggest you get your facts straight.
You are the the fear mongers who lack even anecdotal evidence to prove me or anyone else wrong for that matter.
So please next time you attempt a quasi play on my so called lack of intuitive knowledge, I suggest you first start by asking me.
Thank You
cowpoke.

Cowpoke - Your words and actions speak volumes.

You know what the Dinar is…..
It’s the lottery ticket that doesn’t expire having to be re-bought twice a week.
It’s a dream, an escape from reality.
The odds of hitting the lottery… about 20 million to 1. Which sadly is much better than the odds of a currency revaluing 125,000%.

OK I would like for you to tell me why big bank here in the USA are selling the dinar? If it is illegal to have dinar outside of Iraq why is Chase and Wells Fargo selling it then??

This site is so dumb... Why are you so against the dinar and iraqs economy.. i mean i think i know why... there is money to be made on this site.. because people will be dumb enough to respond to your opinion with no facts... as far as on concerned CowPoke ALWAYS posts LINKS to his FACT/OPINIONS... and by the way the street value of the dinar was at .33 cents before we invaded soo uhh as far as a reval goes idk maybe... but as far as im concerned it fell in value OVER 125,000% OVER NIGHT... so what makes u think it cant go up... and why do you think Wakra's proxies is illegal? do so research.. Good bye have a great day.. I hope your site revenue/traffic picks up...