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Thread: Kuwait Dinar

  1. #1
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    Default Kuwait Dinar

    Not that I want to compare apples and oranges but how long did the Kuwait dinar take to get from nowhere to where it is now. I've searched and can't find any info anywhere.
    All I ask is a chance to prove that money can't make me happy.
    I used to be indecisive. Now, I'm not sure.

  2. #2
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    Default Hmmm

    Took about 2 days , 2 hours and 31 mins, 7 secs. EXACTLY! Haha just kidding. I am guessing it took numerous years to organize all things needed for a R/V like the Iraqi Dinar...

  3. #3
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    Default

    Here is an article about some info on Kuwait Dinar and a revalue from last year... Interesting

    http://www.ameinfo.com/51551.html
    A lie gets halfway around the world before the truth has a chance to get its pants on.

  4. #4
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    Default

    PTG . . . actually you are approx. correct . . .

    Originall query from Dinar Duchess:
    What happened in Kuwait when their currency dropped? Did it get revalued or did it just return to its original value?

    I know the circumstances are different in Kuwait in many ways but we are talking revaluations of currencies as a result of war.


    Answer from Psychogerm: the kuwaiti dinar never changed its actual value. there were a few places within kuwait itself where confidence dropped, people thought the country was going down, and so you could get KWD for cheaper there, but you could take those dinar, go right back into a bank and get 3.50 for them.

    there was no devaluation, no revaluation, but rather just a few panic sellers when confidence dropped in the middle of the war. just do a historical search on Oanda for the KWD exchange rate from 1990-1991 and you'll see what I mean. the rate never dropped... just a few lucky soldiers who were in Kuwait at the right time and happened to have enough cash on them to be able to make out with a decent profit.

  5. #5
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    Default DinarDave & Psychojerm!

    Quote Originally Posted by dinaros
    Not that I want to compare apples and oranges but how long did the Kuwait dinar take to get from nowhere to where it is now. I've searched and can't find any info anywhere.
    Dinaros . . . keep in mind that both DinarDave & Psychojerm are considered by many to be *NAYSAYERS* . . . to the tenth-degree . . .

  6. #6
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    Quote Originally Posted by DaveDinar
    Not to compare... but keep these numbers in mind if you ever think about comparing.
    Dinars in circulation.
    Iraq.....10,000,000,000,000
    Kuwait...........500,000,000

    So Iraq has 20 thousand times more Dinar in circulation.

    How about M2.
    Iraq........20,000,000,000,000
    Kuwait..........10,000,000,000

    That’s 2 thousand times more M2.
    DD- Can you tell me where all that currency is?
    NO-I did'nt think so!

  7. #7
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    Quote Originally Posted by peakoil
    DD- Can you tell me where all that currency is?
    NO-I did'nt think so!
    ummmm i guess it's in some central banks basement (iraqi and 2 other countries) that the Iraqi gov can get at any time to take out of circulation? tsk tsk you shouldnt hint at such things Peak the black helicopters will come for you oh and on a side note for those interested in Peaks idea's http://lifeaftertheoilcrash.net/Index.html great site with loads of info makes me think Peak aint so crazy after all
    We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
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  8. #8
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    They also did not tell you that Iraq has 5 to 10 times the people and infrastrusture than Kuwait. It's funny how they will call apples and oranges on your arguement but never their own.

  9. #9
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    Quote Originally Posted by onenomad
    ummmm i guess it's in some central banks basement (iraqi and 2 other countries) that the Iraqi gov can get at any time to take out of circulation? tsk tsk you shouldnt hint at such things Peak the black helicopters will come for you oh and on a side note for those interested in Peaks idea's http://lifeaftertheoilcrash.net/Index.html great site with loads of info makes me think Peak aint so crazy after all
    I have read BOTH sides of this arguement by the top people not only in the oil business but scholars from the Colorado School of Mines and other top petrolium Universities to finally come to my conclusions.
    Yes I too have read the above before and just about anything I could find on this subject before finally realizing that the dinar became center stage here.

  10. #10
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    Quote Originally Posted by peakoil
    I have read BOTH sides of this arguement by the top people not only in the oil business but scholars from the Colorado School of Mines and other top petrolium Universities to finally come to my conclusions.
    Yes I too have read the above before and just about anything I could find on this subject before finally realizing that the dinar became center stage here.
    its one of the main facts behind my thinking on this investment
    1- the world needs more and more oil
    2-oil is getting less and less
    3-only 10% of Iraq has been developed for oil leaving another 90% to explore
    4-oil is only going to get more and more expensive
    5-Iraq has one of the lowest costs of producing oil from ground to market
    6-Iraq is going to be very very wealthy because of points 1-5

    I have read nowhere near the amount you have on the subject but even I can see your argument makes alot of sense
    We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
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  11. #11
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    Quote Originally Posted by onenomad
    its one of the main facts behind my thinking on this investment
    1- the world needs more and more oil
    2-oil is getting less and less
    3-only 10% of Iraq has been developed for oil leaving another 90% to explore
    4-oil is only going to get more and more expensive
    5-Iraq has one of the lowest costs of producing oil from ground to market
    6-Iraq is going to be very very wealthy because of points 1-5

    I have read nowhere near the amount you have on the subject but even I can see your argument makes alot of sense
    Don't forget #7: Alternative energies are realistically 50-60 years out.
    And that all current alt. energies combined can only substitute about 1% of the demands.

  12. #12
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    A guy named Stephen Leeb, PhD has led this subject and has written numerous books on it. BTW-he has also cashed in big time already by the speculation of his own philosophy. Not his books.
    He was correct when the experts failed to admit he was right about the current situation. Those same experts blew the tech bubble and the DOT com bubble where Mr. Leeb did not. I do not know about you I think he is is worth listening to. ???
    Sincerely-Peakoil

  13. #13
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    Quote Originally Posted by dinaros
    Not that I want to compare apples and oranges but how long did the Kuwait dinar take to get from nowhere to where it is now. I've searched and can't find any info anywhere.
    that's because it didn't take any time. it's always been that way. it never was "nowhere".

    from 1975 to 2003 the dinar was pegged to a weighten currency basket at around 3.25. January 4 2003 they switched to a straight peg to the USD.

    they did a revalue of 1% last year, as they do every now and then to adjust the rate.

    but to answer the question, ever since the inception of the central bank of kuwait the kuwaiti dinar has always been at a high rate, and was never nothing.

    also, contrary to popular belief, the kuwaiti dinar was never devalued during the gulf war. it always held it's rate, as you can find in the historical information on sites like oanda.
    If the announcement isn't made today, it will be rescheduled for a later date.

  14. #14
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    Quote Originally Posted by psychojerm
    that's because it didn't take any time. it's always been that way. it never was "nowhere".

    from 1975 to 2003 the dinar was pegged to a weighten currency basket at around 3.25. January 4 2003 they switched to a straight peg to the USD.

    they did a revalue of 1% last year, as they do every now and then to adjust the rate.

    but to answer the question, ever since the inception of the central bank of kuwait the kuwaiti dinar has always been at a high rate, and was never nothing.

    also, contrary to popular belief, the kuwaiti dinar was never devalued during the gulf war. it always held it's rate, as you can find in the historical information on sites like oanda.

    Gee, that's funny my father was working in kuwait at that time, when our president in the philippines requested that all filipino workers must come back due to the war. When he arrive at Ninoy Aquino International Airport in Manila, Philippines, and tried cashing in the kuwaiti dinar in the PNB (Philippine National Bank) the teller told him that his money was worthless and no value and same way with Metro Bank and other Banks in the Philippines.

  15. #15
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    Quote Originally Posted by psychojerm
    that's because it didn't take any time. it's always been that way. it never was "nowhere".

    from 1975 to 2003 the dinar was pegged to a weighten currency basket at around 3.25. January 4 2003 they switched to a straight peg to the USD.

    they did a revalue of 1% last year, as they do every now and then to adjust the rate.

    but to answer the question, ever since the inception of the central bank of kuwait the kuwaiti dinar has always been at a high rate, and was never nothing.

    also, contrary to popular belief, the kuwaiti dinar was never devalued during the gulf war. it always held it's rate, as you can find in the historical information on sites like oanda.
    Just to touch on this point aswell even when they were invaded afterwards they already had an established economy and market developed where as Iraq is building alot of theirs (with the help of the UK and America along with alot of other countries) from scratch from years of neglect though I dont see this as a major problem especially in their oil sector where alot of work has been done by major oil companies alot of the time for free
    We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
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  16. #16
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    Quote Originally Posted by onenomad
    ummmm i guess it's in some central banks basement (iraqi and 2 other countries) that the Iraqi gov can get at any time to take out of circulation? tsk tsk you shouldnt hint at such things Peak the black helicopters will come for you oh and on a side note for those interested in Peaks idea's http://lifeaftertheoilcrash.net/Index.html great site with loads of info makes me think Peak aint so crazy after all
    Thanks for the link!
    Revelation 18:3 (Amplified Bible " and the businessmen of the earth have become rich with the

    wealth of her excessive luxury and wantonness".

  17. #17
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    Quote Originally Posted by J007m
    Thanks for the link!
    No problem there is substance to what Peak and others have said and that is why though Davedinar and physco do show true economic facts you cant go on just those with this investment you have to acknowledge these other factors especially this one Iraq has so much oil the world needs more and more of it so simple economics to me would suggest a country that has what the entire world needs will be wealthy if the country is wealthy they will have a strong currency if they have a strong currency their stock market will have a real high value all = IRAQ WILL BE THE WORLDS FINANCIAL POWERHOUSE will it be next week....i doubt it but as a long term investment diversified holding currency investing in the ISX you will see large returns especially those that had the faith to invest so early before the rest of the world jumps on board oh and on the point of security I feel as they become more wealthy and have a higher standard of living the security problem will become less and less of a problem
    Last edited by onenomad; 08-31-2006 at 02:13 PM.
    We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
    Warren Buffett
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  18. #18
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    Default new poster, but longtime reader

    Quote Originally Posted by onenomad
    No problem there is substance to what Peak and others have said and that is why though Davedinar and physco do show true economic facts you cant go on just those with this investment you have to acknowledge these other factors especially this one Iraq has so much oil the world needs more and more of it so simple economics to me would suggest a country that has what the entire world needs will be wealthy if the country is wealthy they will have a strong currency if they have a strong currency their stock market will have a real high value all = IRAQ WILL BE THE WORLDS FINANCIAL POWERHOUSE will it be next week....i doubt it but as a long term investment diversified holding currency investing in the ISX you will see large returns especially those that had the faith to invest so early before the rest of the world jumps on board oh and on the point of security I feel as they become more wealthy and have a higher standard of living the security problem will become less and less of a problem
    i wonder how much of this is just trying to turn off current holders that are uncertain or prospectives...?

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