[13:39:19] IshMan to mcbrp: Don't know what the whisper button does... I have not contacts or inside info of any sort. Have just followed story of IQD for a long time. Have a history of interacting with Middle Eastern businessmen and bankers over many years, but haven't talked to a single one about investment in IQD.
Just looked at where Iraq was in its progress toward independence and sovereignty, looked at how many IQD were issued and Issued & floating, and looked at the developed and proven oil reserves, and concluded on a fully diluted basis, the IQD would support just under $1 per IQD.
Thought time and political risk were the only issues, so a few thousand invested in IQD with a 25% downside risk in reselling to dealers against a 1000% upside were pretty good odds. Things improved on the calendar when US troops left Iraq, though the political risk ratched up.
Read More Link On Right
I think things look better than ever now, and though there is political risk, where isn't there such risk in the Middle East. Frankly, Iraq is looking better, and I'm hopeful we'll see an exchange before things get crazy in Iran. I'm out as soon as possible when IQD rate goes live.
13:45:59] IshMan: More on IQD upside. Look at how the Kuwaiti Dinar has traded in the high $3 range. It is understood that Iraq's oil holdings and other mineral riches, as well as its agricultural capability, outstrip that of Kuwait.
And with the current Iraq budget, so Iraq doesn't have to deficit finance its current budget, the rate has to come out consistent with Kuwait. Shabibi has stated more than once, the IQD should trade at a premium to Kuwait.
My opinion only, the IQD should trade in the high $3s to the low $4s based upon economic reality. Higher? As my dad used to say to me, "From your mouth to God's ears." I love Okie's flight plan of 12,360 feet. That will be "cloud nine" for me.
[13:51:15] mcbrp to IshMan: Well the higher the better for me too. but have always looked at it from the the point of where it was when taken off the currency ..and believe it was around 3.22...so if you were to allow for world inflation say 20% that would put it near 3.80 ....seems a bit more reasonable ...and yes they (IRAQ) could pass the KWD in no time.. as the book of Revelations chapter 17 states... Babylon to be the richest country in the world...economically
[13:52:13] Jimbo to IshMan: I would add that the only other factor to consider in this equation would be the actual vol. of IQD. We just don't presently know that #, nor do we know any am't of the counterfeit IQD that may come into play. Hopefully, both of these factors will be minimal.
[13:52:39] IshMan to mcbrp: I actually do have pretty good banking contacts at WF. My sources won't share a peep on the IQD rates at regional screens. My sources actually have international desk access, and again, they won't share a peep with me.
I hope Okie and others with special relationships may be able to provide some insight. The only response I've had from my sources, is assurance I'll get a call if the rates go live. I don't even get a "when" rates go live in the description.
I think my sources are old school, and simply don't share any info whatsoever. But they didn't "pooh-pooh" my IQD investment. They simply stated, we'll keep a watch on the rates for you, and get back to you if there is any activity. Here's hoping a call comes in this afternoon or tomorrow.
[13:52:42] Jimbo to IshMan: However, I'm no Geru
[13:53:18] Jimbo to IshMan: Like everyone else, we've got our fingers & toes crossed.
[13:53:21] mcbrp: this is a interesting read everyone ..shared it with Gypsymama a while back ..she posted for me http://www.alphanewsdaily.com/Nations%20Iraq.html
[13:55:14] mcbrp to IshMan: Funny ....when approaching mine a few months back..and disputing the the Dinar for a bit..the banker went to his manager came back and said the same to me... We will cash in if it becomes tradeble
[13:56:38] mcbrp to IshMan: I also have been with this bank (Chase ) many years
[13:58:16] IshMan: I want to share a "faith" sign. I love to watch birds, and have a peaceful back yard with food, water and cover to attract a great local population. Well for the last couple years, I've been hoping to see painted buntings when they pass through.
This year, my wife and I agreed in faith that we would pray and believe, we would be blessed with the painted buntings coming to our yard. My wife just called me enthusiastically, that the first ever painted bunting, as well as an indigo bunting, showed up in the yard.
I take this as a very special faith sign. If we can believe for a painted bunting to manifest, what's the difference in believing for an RV, in God's eyes. One is not more significant than another. Each is a desire of our heart. I think today may be a special day. Let's see what unfolds. God bless all.
14:12:35] IshMan to beachsider: In a meeting with WF in my neighborhood on the subject of cash in, I was provided this description. The IQD would be counted locally, and the exchange rate applied to my account.
I would not get "good funds" until a formal counting and verification. My IQD would be placed in a disposable, secure cash pouch with 3 identifier strips attached to the pouch. One would be pulled and kept by my local banker (a Wealth Advisor), another would be kept by me, and the third strip remains as part of the secure cash pouch.
The pouch would be sent to a regional center with a Talaris (formerly de la Rue) counter/verification machine. The secure pouch would be opened, and the contents counted and verified. Upon count and verification, I would be advised of good funds status in my account. I plan on arranging, at my expense, to fly to the regional bank location for the count, and if possible, observe the opening of the secure cash pouch.
I have no assurances that this is possible. It may not, with the volume of exchange going on. I hope to be persuasive and assure I will not be intrusive in the matter. Now, I'm comfortable with this, as this is the standard procedure for the movement of large amounts of any form of currency from bank to bank.
It will be handled by secure courier from pick up at the bank, thorugh the air, and on the ground to the regional bank center. I shall check in terms of insurance, etc in case of some improbable loss. Now when I show up with the IQD, I may be advised of someting different.
But having a long-standing relationship with my local bank sources, I am confident the process will go smoothly.