Screaming Eagle
Supporter and Investor!

SE: Are you still planning to pull your money out of Iraq when your cds turn?

Thanks, Earl

Thanks SE.

Hey SE do you know anything about Offshore Asset Protection Trust? I heard it can be used for International Investing.

Thanks

calstar

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The CBI guarantees, regulates, and is therefore responsibile for the actions of it's member banks. Warka is a member bank of the CBI. The CBI is the lender of last resort. In the case of bank problem a conservator is first appointed. Deposits have first priority. Start with payment systems under CBI law and read thru until the end. It covers any possibly including bankruptcy. In a bankruptcy the depositor is immediately protected to 5 million dinar. The rest of the funds can be frozen up to three months with no interest. If the CBI failed to guarantee its member banks and depositors it would lose credibility. In any case once a conservator is appointed for a bank by the CBI the CBI is responsible for how any funds are dispersed. Do you know of any case where a depositor in a bank that is a member of a countries Central Bank has lost their deposit if that county has a functioning govt. No, the primary purpose of any CB is a stable money supply which they insure with member banks.

Sorry to bother you again.
I found the reserves, but can not find what guarantees our money in Warka.
I know warka would not falsify information in the news, but a written information about it by the CBI gives you 100% security and those who do not believe in Warka will open the eye.Maybe this is old information, old post, maybe this is very simple for you but is a campaign against warka right now.I think this would be nice to explain in detail.Please elaborate about the guarantees.
Thanks.

All that information is documented at the CBI. For guarantees view the CBI banking law for member banks. For CBI assets that back the dinar and required reserves view the statistics at the CBI website and then the key financial statistics. Become familiar with the CBI website. Thanks SE

Good morning SC
If you could give me a link about the deposit guarantees or any other information.
Great news.

As for depositors they are protected by the CBI and the required 25 percent bank reserves. In addition all dinar is backed by ~40 billion dollars in FX assets at a rate of 1170 dinar to $1.

Thanks.

Hey SE. I just read your reply to decormier as to why Cash holders/speculators hurt the Iraq economy. I must say that was a well thought out response, and makes complete sense.

I have never held cash in all my years into this investment, but I must be honest that I never thought of it like you have presented.

Thanks!!