[Fresh] no-regret also they can experience "favorable gains" from foreign currency holdings
[no-regret] Fresh true
[KathieSt] sisterbreen MeKevinB cookie2 but who knows when
[Rudie] MeKevinB I saw that she said she would be back later, but no time given.
[cookie2] Okay, that settles things
[no-regret] Fresh its really amazing how ptb put all this together
[MeKevinB] Rudie Ah okay. Thank you
Read More Link On Right
[myblifeguard] WHat's the point of celebrating the release if your next step is not to establish a tradeable currency IMO
[cookie2] myblifeguard That sounds right to me
[NUMBERS] myblifeguard because you do not live under dicktater no mo
[no-regret] myblifeguard it does seem like they would rv in order to move foward at this point
[Fresh] no-regret that's how most made money in Kuwait scenario...
[no-regret] Fresh right
[myblifeguard] It is very logical...
[Fresh] before Internet, etc ... most were over there as contractors and happened to possess money when it shot back up in value...
[Fresh] they were also trying to prevent the stolen currency ("old" kuwaiti Dinars) from Sadaam's regime circulating into markets...
[no-regret] right i did talk to a friend that knows someone that benefitted
[Fresh] so there was a very limited period to exchange and only if you had currency that was not identified as stolen or black market...
[myblifeguard] It may take a few days for them to adapt to their new status...This is a new beginning after 20+ years of struggle
[myblifeguard] I for one am very encouraged by this step. It is a great leap in the right direction actually
[myblifeguard] They see themselves as Babylon Rising...the rebirth of the cradle of civilization..it is a big deal to them...
[Sager] Fresh, just coming in... how did most made money in kuwait you say?
[Fresh] myblifeguard it was great catching up with you earlier on the phone - I enjoyed it as always!
[Fresh] Sager from what I heard they were typically working in Kuwait or knew someone that was... technology wasn't as instant as now...
[myblifeguard] Fresh mee also!!
[rick25sandi] good evening everyone
[myblifeguard] I will be coming to ATL to redeem my dinar..
[Sager] Fresh gotcha... Actualy, I have a great friend who's buddy cashed out from the kuwaiti dinar
[rollonjohn] rick25sandi rick25sandi rick25sandi
[Sager] just found out a couple months ago!
[Sager] Fresh he wasn't a contractor in kuwait
[Fresh] Sager yeah feel free to post what you heard from their experience
[Sager] he was in canada
[Sager] hold on i'll type it up
[deaconfuzz] good evening all
[cookie2] Fresh If Iraq is supposed to be down to one currency by July 3rd, how can they possibly get it all off of the street by that time?
[tired] Sup fuzz
[deaconfuzz] great news today I likey
[Fresh] Sager cool - yeah for starters I would think it must have been much more difficult to obtain currency back then!
[rick25sandi] i just love the what the negative people are saying- 90 days or more- may be 2 tears to reach 1 to1
[deaconfuzz] tired tired tired on days now WOOT!!!!!
[Fresh] deaconfuzz deaconfuzz deaconfuzz !!!
[Fresh] deaconfuzz man sorry if I didn't get back to you Today - my phones were silly
[deaconfuzz] Fresh thanks for the earlier text I was @ work and some guys(who are invested) were asking
[deaconfuzz] Fresh got it woot
[Sager] Fresh basically I went for dinner with some great friends, all of which are invested in the IQD. One of my friends told me something that further validates this investment.
Without going into detail, he is a very successful entrepreneur. He told me that one of his long time friends was actually part of the Kuwaiti dinar RV. When he told me this, I was shocked.
Shocked because he never shared this with me before. He basically said that when his buddy was in school, his economics teacher talked about the Kuwait economy, and how it would eventually go back up. His teacher proposed to him and all the students to invest a little bit by buying some KWD.
All of them chipped in a bit of money. Sure enough about a month later, the KWD had revalued. My buddy told me it went from 0.06 cents to $3.27 instantly.
[Sager] Fresh No lop whatsoever. He cashed out and made a profit. I was in awe guys. I still am.
I've heard stories in the past of the KWD rv, but nothing was concrete, and I heard different stories, but now, this personally validates that it actually happened with Kuwait.
This is my personal buddy who told me this, so it's very tangible to me. He has absolutely no reason to lie. I trust him and am so happy to have heard this.
I'm so happy about this news that I feel like I needed to share this with you all. The people that know me here know that my intentions are true, and I'm simply here to share something that happened to my friend's close buddy.
[deaconfuzz] cookie2 they could be only accepting 1 currency by the 3rd for buisness purposes ... meaning you will not get any other currency for change when you make any kind of purchases or deals IMO
[Sager] no-regret deaconfuzz more than welcome
[freeindeed] What did Sager share?
[Fresh] Sager that's AWESOME - thanks for sharing!!!!!!!!!
[deaconfuzz] Fresh its funny that a guy at work said he just saw a special on the revalue of the german marc after WW2
[no-regret] deaconfuzz deaconfuzz i have heard of that
[freeindeed] Thanks Sager
[deaconfuzz] no-regret I think to date it is the largest swing in 1 currency
[no-regret] deaconfuzz deaconfuzz i was told that that is how alot of jews made tihier money
[deaconfuzz] no-regret my wife's grandfather was 1 of them
[no-regret] deaconfuzz it all makes sense to me deaconfuzz wow really
[no-regret] thats amazing
[deaconfuzz] ok bbiab
[Fresh] Sager you care if I repost in forums our chat here or you want me to leave it in here?
[Fresh] I know it's scrolling quick for some
[Sager] Fresh not at all buddy. Feel free to post
[wmawhite] Fresh .....can I post on here a little background about the KWD?
[cookie2] Sager That just helps us confirm what is happening now TY
[Fresh] wmawhite go for it!!!
[Fresh] it may lead to some good discussion as to where we go from here
[Sager] cookie2 absolutely... I basically found out when I went to dinner with my friends a couple months ago
[wmawhite] When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.
[wmawhite] After the liberation, a new series was issued on 24 March 1991 with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery. This new series was legal tender until 16 February 1995. Denominations were ¼, ½, 1, 5, 10 and 20 dinar.
[Sager] I was so happy hear it because it came from someone I personally knew.
[wmawhite] Here is an article from a L. A. Times news correspondence report the reopening of the Kuwaiti banks:
[wmawhite] Crush Expected When Kuwaiti Banks Reopen Today March 24, 1991|From Reuters KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation. Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.
"We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.
[cookie2] Sager Yes, that really makes you feel good, I'm sure.
[wmawhite] Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.
When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency. Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.
Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.
[wmawhite] The new Kuwaiti money will be exchanged for old at a one-to-one rate. http://articles.latimes.com/1991-03-..._kuwaiti-banks In closing, keep in mind that Iraq invaded Kuwait in August 1990. The Kuwaiti currency at that time was the Kuwaiti Dinar.
The Kuwaiti currency was replaced with the Iraqi Dinar. Seven (7) months later, February 28, 1991, The Iraqi forces are kicked out of Kuwaiti and the war has ended. Twenty six (26) days later the Kuwaiti banks reopen with and NEW currency valued at 1 KWD = $3.50.
If any Kuwaitis still held the old Dinar it would be accepted at a one to one rate.
[wmawhite] That all, Folks.
[cookie2] wmawhite I like
[no-regret] wmawhite wow thats great stuff
[Fresh] wmawhite wmawhite yeah I remember that article - good stuff!
[no-regret] that should be put in forums --i would Like to reread it over and over
[wmawhite] Fresh .........the L.A. Times reporting actually wrote that he didn't understand how this story got by them under sthe radar.
[wmawhite] reporters [wmawhite] reporter
[mdglow] I have been on these boards for some time ! everyone has a story about a conversation or contact's.now my turn at 2:00pm today I received a call from my neighbor.he is from baghdad been here for 8 yrs . he said it is just crazy over there with joy !! and their expectations of the value going up is that it will be quick ! I totally TRUST this man and has never steered me wrong. it may not mean much to you all ! but I have tried to remain quiet ,not wanting to cause any grief or negitive reaction's so that being said cheer up .they are extremly happy !! and know its coming FOR SURE .
[anonymous1] obviously they were not spoon fed what to report on this
[anonymous1] awesome mdglow mdglow
[cookie2] mdglow mdglow Wooooooooooooooooo Hooooooooooooooooo!
[no-regret] mdglow mdglow thx
[mdglow] anonymous1 more than awesome
[anonymous1] so true
[anonymous1] btw i would take the $3.50 like the kwd incase anyone was wondering
[wmawhite] mdglow ...thank you very much for sharing.
[mdglow] anonymous1 the Iraqi's here in dearborn are not quite as optomistic
[jcbstd] mdglow not official until bis says
[mdglow] jcbstd got that right !
[myblifeguard] mdglow ..thanks
[mdglow] jcbstd or in MY account
[jcbstd] mdglow they have ran before
[mdglow] myblifeguard ran ??
[mdglow] jcbstd ran?
[Fresh] mdglow mdglow AWESOME!
[jcbstd] how many times have we read out of ch7
[j10000] mdglow thank you...great stuff!
[jcbstd] when bis says then i believe
[mdglow] jcbstd today !
[jcbstd] mdglow they did
[mdglow] jcbstd you are CORRECT
[letsroll] mdglow excellent story
[6b472] mdglow - thanks
[jcbstd] mdglow dont think they screw them this time to much on the line
[sunnyca] mdglow Great share, thanks
[aceking] jcbstd read the forums and banner
[myblifeguard] Fresh We need a few days trip to golf courses in one of our $1 mill rolling man caves!!
[mdglow] jcbstd the stories I hear are nothing that we read at times
[jcbstd] aceking been in this to long
[mdglow] myblifeguard selling many of those
[myblifeguard] mdglow Yes.....
[Fresh] myblifeguard myblifeguard for sure!!!