Revalue - Then What?

[WebGuy75903]

First, I apologize if this has been covered ad nauseum before, but I'm new here, and I honestly couldn't find any information on this topic anywhere on these boards. Here's my question:

When a revalue happens - Whatever it revalues at - What do we do with our dinar at that time? I was under the impression that you couldn't do anything with the dinar (cash them in, for example) until it was floated on the FOREX. What am I missing?

How might we actually cash in our dinar (here in the United States) if it's not floated on the FOREX? Or is that an assumed step in the process?

I apologize if my questions seem trivial or even sophmoric - I'm just trying to understand how everyone can be excited by a potential revalue, and where everyone plans on trading in their Dinar.

Thanks so much, and if this question belongs on another board, please let me know.

[panhead]

First, I apologize if this has been covered ad nauseum before, but I'm new here, and I honestly couldn't find any information on this topic anywhere on these boards. Here's my question:

When a revalue happens - Whatever it revalues at - What do we do with our dinar at that time? I was under the impression that you couldn't do anything with the dinar (cash them in, for example) until it was floated on the FOREX. What am I missing?

How might we actually cash in our dinar (here in the United States) if it's not floated on the FOREX? Or is that an assumed step in the process?

I apologize if my questions seem trivial or even sophmoric - I'm just trying to understand how everyone can be excited by a potential revalue, and where everyone plans on trading in their Dinar.

Thanks so much, and if this question belongs on another board, please let me know.

When the reval occurs it should be international.....then I will trot down
to the nearest BOA and partially cash in.

[iamrealdreamer]

I think I'll do some at BOA, Chase, and Wells Fargo!
Just because I can :happy64:

[paganiniraq]

When the reval occurs it should be international.....then I will trot down
to the nearest BOA and partially cash in.

Wanna lift?....lol

[Bishopea]

I will be partially switching over some of the cash back to dollars and let the rest try and gain some more momentum to see what happens..

[paganiniraq]

First, I apologize if this has been covered ad nauseum before, but I'm new here, and I honestly couldn't find any information on this topic anywhere on these boards. Here's my question:

When a revalue happens - Whatever it revalues at - What do we do with our dinar at that time? I was under the impression that you couldn't do anything with the dinar (cash them in, for example) until it was floated on the FOREX. What am I missing?

How might we actually cash in our dinar (here in the United States) if it's not floated on the FOREX? Or is that an assumed step in the process?

I apologize if my questions seem trivial or even sophmoric - I'm just trying to understand how everyone can be excited by a potential revalue, and where everyone plans on trading in their Dinar.

Thanks so much, and if this question belongs on another board, please let me know.

When the IQD hits the International markets you will be able to exchange it at any Currency Exchange and some of the banks....just like any other foreign currency. It doesn't have to be listed on the Forex to become legal tender but it will be listed there once it is.
Waiting on a revalue is what this forum is all about…a potential revalue means it is impending and worth getting excited over.
Your questions aren't trivial....everyone has to start learning somewhere.

[paganiniraq]

I will be partially switching over some of the cash back to dollars and let the rest try and gain some more momentum to see what happens..

A lot of people are going to sit on some to see if it hits a higher rate...

[Adster]

At a 1:1 I will cash in around two thirds and sit on the rest. There's no doubt that within 3 years if security is restored it can't go up to $3 per dinar. ;)

[WebGuy75903]

So the short answer that I'm hearing is that just because it isn't traded on the Forex, it can still be exchanged. This is the first time I've heard that. Quite a surprise - A pleasant one, mind you, but a surprise nonetheless. Thank you everyone for answering this question for me.

Would it be safe to assume that when a revalue hits, and we can, indeed, trade in our dinars, that someone on these boards will spell out precisely where to go, and the process involved for trading them in? I've heard BOA (Which I'm assuming means Bank of America), Chase, and Wells Fargo. Any others? And can you go to any old branch, or only certain branches of these banking institutions?

I've never in my life had a need to exchange *any* type of currency, and so I'm lost on this step of the process. I think I'm be in for a rude awakening if I were to have to travel abroad, and exchange some currency.

Thanks again - I know I'm new here, but all of you have been very courteous to me and my questions - Which is a welcome change from some other forums I've encountered in the past (not necessarily related to Dinar - Just in general).

[panhead]

A lot of people are going to sit on some to see if it hits a higher rate...
Just enough to pay off the place....and start traveling again.

[BugmanIraq]

Drunk and disorderly. One week. Maybe two. Three tops.

[sib]

Just enough to pay off the place....and start traveling again. me to off traveling but frist class all the way.

[RET]

When the IQD hits the International markets you will be able to exchange it at any Currency Exchange and some of the banks....just like any other foreign currency. It doesn't have to be listed on the Forex to become legal tender but it will be listed there once it is.
Waiting on a revalue is what this forum is all about…a potential revalue means it is impending and worth getting excited over.
Your questions aren't trivial....everyone has to start learning somewhere.


I appreciate your helpfulness. I bet there's many who have had questions but never asked.

Thanks, Pagan!

[panhead]

me to off traveling but frist class all the way.

Already go first class.....I ride.

[Joe D_inar]

I think I'll do some at BOA, Chase, and Wells Fargo!
Just because I can :happy64:
I will be using...Bank One & U.S. Bank.!!!!!!!!!!

[baz]

So the short answer that I'm hearing is that just because it isn't traded on the Forex, it can still be exchanged. This is the first time I've heard that. Quite a surprise - A pleasant one, mind you, but a surprise nonetheless. Thank you everyone for answering this question for me.

Would it be safe to assume that when a revalue hits, and we can, indeed, trade in our dinars, that someone on these boards will spell out precisely where to go, and the process involved for trading them in? I've heard BOA (Which I'm assuming means Bank of America), Chase, and Wells Fargo. Any others? And can you go to any old branch, or only certain branches of these banking institutions?

I've never in my life had a need to exchange *any* type of currency, and so I'm lost on this step of the process. I think I'm be in for a rude awakening if I were to have to travel abroad, and exchange some currency.

Thanks again - I know I'm new here, but all of you have been very courteous to me and my questions - Which is a welcome change from some other forums I've encountered in the past (not necessarily related to Dinar - Just in general). By the sounds of things you might have to get a passport as well....."never in my life had a need to change *any* currency" dont leave anything to late:wave: .

[Dare2bgr8]

I called Wells Fargo and asked if I would have to have an account at their bank in order to exchange foreign currency. They said no, all I would have to do is go to the nearest international teller to make the exchange. Does anyone have any info. that they could add to that?

[jpadrino]

Do we have information (facts) that a reval is imminent?

[paganiniraq]

I appreciate your helpfulness. I bet there's many who have had questions but never asked.

Thanks, Pagan!

You're welcome
What's the expression...a question never asked....lol

[paganiniraq]

Already go first class.....I ride.


No knots in the hair....no bugs in the teeth.....no class for the _____!

[paganiniraq]

Just enough to pay off the place....and start traveling again.


Couldn't think of a better way to wait out an increase.....lol

[thabearryan]

Joe D,
Have you talked to US Bank about exchanging the dinar after reval? I talked to one of their currency exchange reps, and she seemed to have no idea what I was talking about.

[panhead]

Couldn't think of a better way to wait out an increase.....lol

No rush,No stress,No worries............

[TSHA]

I am $40,000 away from being out of debt so I will cash in enough to live debt free again. I'll put enough in the bank to draw a decent salary and start real estate investing. Then if the value really goes up, I'll cash out completely. I don't want a house on both coasts. I just want my 1800 square foot home paid for and I want to be able to travel at my discretion. I would also get myself a boat. Believe it or not, just knowing that you don't have any financial worries is the way to live. I'm ready to get rid of that ulcer! :)

[WebGuy75903]

I called Wells Fargo and asked if I would have to have an account at their bank in order to exchange foreign currency. They said no, all I would have to do is go to the nearest international teller to make the exchange. Does anyone have any info. that they could add to that?

Just thought I would pass this site along (thank you so much for calling Wells Fargo for this information). I found their website, and a list of all their "International Tellers". It can be found here:

https://www.wellsfargo.com/inatl/consumer_services/inatlteller

[paganiniraq]

So the short answer that I'm hearing is that just because it isn't traded on the Forex, it can still be exchanged. This is the first time I've heard that. Quite a surprise - A pleasant one, mind you, but a surprise nonetheless. Thank you everyone for answering this question for me.

Would it be safe to assume that when a revalue hits, and we can, indeed, trade in our dinars, that someone on these boards will spell out precisely where to go, and the process involved for trading them in? I've heard BOA (Which I'm assuming means Bank of America), Chase, and Wells Fargo. Any others? And can you go to any old branch, or only certain branches of these banking institutions?

I've never in my life had a need to exchange *any* type of currency, and so I'm lost on this step of the process. I think I'm be in for a rude awakening if I were to have to travel abroad, and exchange some currency.

Thanks again - I know I'm new here, but all of you have been very courteous to me and my questions - Which is a welcome change from some other forums I've encountered in the past (not necessarily related to Dinar - Just in general).

Forex are traders....they are not a currency exchange per se but their forte' is currency.
If you travel to another country....say Ireland....US currency isn't a recognized tender there so you would need to purchase Euro at a Currency Exchange......when you returned home you would exchange any Euro you had left over into US dollars because the Euro isn't a recognized tender in the USA.
When the IQD hits the International market...it will become legal tender throughout the world but like all other foreign currency...will need to be exchanged for the currency of your own country.
When the IQD revalues and is no longer a restricted currency......this board will probably crash with the onslaught of posters. Best to take the time and ask a few questions while you can....lol
While most banks will exchange foreign currency....some do not but almost every major city has Currency Exchange locations, as do Airports. Take the time to contact your bank and ask if they exchange foreign currency at their location.
Not all institutions exchange currency at the same exchange rate so check around before you do the deal.....a 1% difference in an exchange rate could mean a substantial loss/gain in your pocket.

[paganiniraq]

No rush,No stress,No worries............

Your most pressing concern would be where to ride next.....lol

[Lady D]

Do we have information (facts) that a reval is imminent?
Just hot rumours of soon, and cold sweats that someone will steal our dinars / dreams. LOL
LADY D

[panhead]

Your most pressing concern would be where to ride next.....lol

Or which one to ride....got five already,always regret selling a bike.

[paganiniraq]

Or which one to ride....got five already,always regret selling a bike.

lol...now I'd be stressing already!

[iamrealdreamer]

Already go first class.....I ride
You might want to add a Turbo like I did, great for pulling out in traffic :happy26:

http://pg.photos.yahoo.com/ph/flhtturbo/album?.dir=484escd&.src=ph&store=&prodid=&.done=http%3a//pg.photos.yahoo.com/ph/flhtturbo/my_photos

[lglwzrd]

dont go to wells fargo to cash in. they charge a %. bank of america will charge a $10.00 transaction fee if you have an acct there. check with your local branch or go to a main branch in your area and open acct now. it may be a period of time until the bank converts dinars into dollars. some have said a few weeks. they have to verify the authenticity of the bills.

[tcballi]

What a joke...called Wells Fargo in Omaha, Ne and asked for the foreign currency exchange department. They connected me to some teenage girl who told me they do not do anything with the Dinar and would not even quote me a rate of exchange if it does go on the Forex.:mad:

[Anaconda_Dinar_Sheik]

What a joke...called Wells Fargo in Omaha, Ne and asked for the foreign currency exchange department. They connected me to some teenage girl who told me they do not do anything with the Dinar and would not even quote me a rate of exchange if it does go on the Forex.:mad:


Could it be that the Dinar is not on the world market and Wells Fargo is not exchanging it???

[tcballi]

NO KIDDING!!!!!!!!!!!!! Thanks for the comment...I was simply calling to find out options if is dose reval....it's called planning ahead...check into it

[Pastor D]

Try BOA that's where My bank gets it for me!

[oldtimerdinar]

for those in the UK bourgh dinars from Nat West Bank today and they do buy them back

[Dare2bgr8]

I've read quite a few times that in order to exchange our Dinars we will have to have a receipt or some proof of purchase. When I spoke to a rep. in Wells Fargo's forex department he never mentioned this. Is this receipt thing a certainty or an assumption?

[martarich]

I've read quite a few times that in order to exchange our Dinars we will have to have a receipt or some proof of purchase. When I spoke to a rep. in Wells Fargo's forex department he never mentioned this. Is this receipt thing a certainty or an assumption?

The only reason that I have heard that you need a reciept for is if and when the IRS wants to check you out for profit and long term versus short term capital gains or if it is considered income and taxed at the current rate for your salary this year. I don't think the bank needs it except for them being nosey. Your accountant will need the reciept to do your taxes.

ps. I talked to Wachovia Bank here in central Florida, a while back and was told that the dinar was on the forbidden list. But, when it becomes a world currency and is traded on the forex, that they would trade it and they charge a $15 per transaction fee and the quantity does not matter.

enjoy the ride:happy64:

[Lux]

ps. I talked to Wachovia Bank here in central Florida, a while back and was told that the dinar was on the forbidden list.

Alot of old information still resides at the branch level regarding Iraq. You may want to tell them to update their info.

If you asked the same people if you could wire to Iraq, they would probably call the Bomb Squad and have you escorted out in chains. :p

While dinar is not convertible, it is not forbidden. In fact, some banks sell and buy dinar.

[Joe Kidd]

now what you have all been waiting for... my 2 cents worth regarding the reval... I have been on this for a long time, I still consider this a 'penny-stock' type of investment, long on odds, but with a chance to hit a home run! My initial purchase was right after Bush was re-elected, I felt that Kerry would have pulled the troops out, I hate to imagine how many tens of thousands of Iraqis would have perished (not trying to make a political point). That being said, i made my second investment after the Constitution, still very risky though.

When-I believe this will happen in '06, I feel that they need to do this for the benefit of Iraq.

Value-I have always hoped for 1U$D per Dinar, but i believe that it will initially be much less (anywhere from 1 cent to 1 dime - that would still prove to be a great investment!). Reason being; if average Iraqis are turned into U$D millionaires overnight, wouldn't most of them leave Iraq? Wouldnt they move out in groves??

I think that after the reval, we will see the Dinar dump as investors cash in, then the Dinar will gain strength... hopefully the insurgency will diminish and the currenecy will flourish along with the strength of the Iraqi economy...

So, if and when it revals, i will sell some and hold on to the rest for the real HOME RUN!!!

Be well...

[Good_Karma]

now what you have all been waiting for... my 2 cents worth regarding the reval... I have been on this for a long time, I still consider this a 'penny-stock' type of investment, long on odds, but with a chance to hit a home run! My initial purchase was right after Bush was re-elected, I felt that Kerry would have pulled the troops out, I hate to imagine how many tens of thousands of Iraqis would have perished (not trying to make a political point). That being said, i made my second investment after the Constitution, still very risky though.

When-I believe this will happen in '06, I feel that they need to do this for the benefit of Iraq.

Value-I have always hoped for 1U$D per Dinar, but i believe that it will initially be much less (anywhere from 1 cent to 1 dime - that would still prove to be a great investment!). Reason being; if average Iraqis are turned into U$D millionaires overnight, wouldn't most of them leave Iraq? Wouldnt they move out in groves??

I think that after the reval, we will see the Dinar dump as investors cash in, then the Dinar will gain strength... hopefully the insurgency will diminish and the currenecy will flourish along with the strength of the Iraqi economy...

So, if and when it revals, i will sell some and hold on to the rest for the real HOME RUN!!!

Be well...

Most of them will drop their AKs, go to the electronics store, buy plasma TV, go home watch their favorite soccer matches and shows while eating popcorn. :lmao:

[Dinar123]

I dont know ANYTHING about currency investing ( i did purchase 500,000 dinar however) but i wanted to know what would you recommend i do when this re-value occurs. Should i exchange all of my dinar or just half. Whats your guys recommendation. Thank you sooo much for any advice you can supply.