Iraqi Dinar-A Realistic Return
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Iraqi Dinar Investors,
If the monetary policy adjustment recommendation made twice now in the past two weeks by the CBI , that involves eliminating 3 zeros and issuing new Dinar banknotes, is approved by Iraq’s Parliament and becomes a reality, investments in the Dinar’s appreciation will have lost virtually all of the leverage many had expected . After the exchange of paper which will be physically and exclusively conducted by the CBI over a two month period is concluded, the Dinar will be listed on the FOREX at somewhere between 75 and 85 cents and daily free trading will commence. This is because each 25,000 Dinar banknote currently in circulation will be exchanged evenly for a new 25 Dinar banknote. The 25,000 note currently sells for around 18-$19 US, thus the price per Dinar will be valued at a little less than one dollar.
While anything can happen and “it isn’t over until it is over”, this is the most likely scenario we have to look forward to. There are however, a few very obvious parts to this huge reduction in the float that can only be construed as very positive and influencing. It is primarily due to their existence that I am suggesting for all of you to buy the Dinar now and hold them in a Dinar denominated Iraqi commercial bank account.
By doing so you will lock in your price or cost basis at the eventual conversion price of 75 -85 cents US. When the dinar begins trading it will most definitely open higher than this new conversion price. I will explain why in a moment but, I will go on record right now and tell you that the Dinar will open trading at between $1.50- $2.00 minimum and close the first day of trading there too. This is why the price you are paying now will not be available once trading begins on the FOREX. I see the Dinar quickly rising within days to the 3.00 –$ 3.50 range. This is because history tells us the Dinar traded at those levels in the past and, the truth is, history is ALWAYS repeated in the price movement of stocks and commodities. This is true and has been proven time and time again.
$3.00 to $3.50 is it though. Party over!! Remember this is a currency not a stock. Take a look at the prices across the board of the world’s currencies. The Dinar will be categorized as an “Exotic” currency also , which may be why it only reaches $3.00 and probably starts to stumble for a while before going higher eventually reaching its previously traded highs. So much is happening so fast in Iraq that when the Dinar starts trading it will go to where it is supposed to be and it will go there quickly. In a matter of days , maybe a few weeks at most , the highs will be met and I personally will be selling and suggesting that you also sell into that strength. My target is $3.00. The upside beyond that is limited anyway and I prefer letting someone else take that risk. The following are the fundamental reasons I base the anticipated move in the value of Dinar for the short term. I will close with something I can do also to make this suggestion even more attractive.
The Dinar will go higher from the start of trading on the Forex because:
1. Introduction of the Iraqi Dinar to the FOREX and the world stage means instantaneous exposure to money managers worldwide as an investment grade opportunity for growth and diversification. Mega sources of capital from individuals and institutions globally will now become available to Iraq. We are only a small percentage of people around the world who know the big picture on Iraq and most of the big money has been precluded from investing in the Dinar due to a lack of liquidity, which changes when it starts trading on the FOREX . All of this will bid up the price. The Dinar will be overwhelmingly thought of as an investment with less risk now trading on the FOREX than before . The spread between purchase and sale prices of the Dinar will tighten up. This is all good!
Thanks for your time and consideration.
Best,
David Pratt
MY COMMENTS
I at first thought OMG. Then started thinking why would Banks here in the US be allowed to sell these? Could it be as Benjamin Fulford has said in the last 2 weeks that the Bush's and Clintons are selling them in order too save themselves and possibly because this David Pratt was right. I had blogged about a rumor around early Feb I think that the Bush's had a plane load of dinars they tried to cash in in Jordan get confiscated. The other thing was this guy David Pratt stands too profit from this so we started to ask questions and search deeper. At first my wife said go to CBI's website http://www.cbi.iq/ to see if this is true. We could not find anything on paper or import. So why would David Pratt offering links to his own article not offer links to his source of monetary policy from the CBI? Because he does not have one and is only trying to scam 20 to 100% of your investment if you read belows blog. I searched the article headline and found 25 odd with the 1st from Iraq Daily Times.com, which you would think might be reputable, but you would be wrong. Not even 1 from the CBI itself also suggesting David Pratt's a scam. He also changed the name of his website probably due to bad press. Another thing is he is saying the Government of Iraq (GOI) is formed, while I just remember reading Dinar Daddy saying it is not and that is things we are waiting for before the ReValue (RV) here
DinarDaddy: Parliament will still need to pass the law allowing the currency to be raised in value.. that’s thte obvious answer. Beyond that, they have stipulations they were suppose to meet as a nation that they still haven’t… i.e. complete government… for one. So, many say things are done, but I say…. NO THEY AREN’T. Until we see the RV, then at least one final things hasn’t been done… that being PULL THE TRIGGER!
above Dinar Daddy quote from
http://nesaranews.blogspot.com/2011/04/dinar-intel-update-42911.html
Now please read the below for some more good news.
A BLOG SOURCE AT THE BOTTOM OF IT
this is what I received in an e-mail regarding David Pratt and Dinar Banker:
From: David Pratt
To: commxxxxxxxxxxxxxxxxus.org
Sent: Wed, January 12, 2011 12:40:33 PM
Subject: Clarification on Iraqi Monetary Policy
Dear Sir,
I would like to have information regarding the current policies of the Iraqi Government and Central Bank of Iraq concerning the Iraqi Dinar and whether it is legal or illegal according to the laws of the government of Iraq to have the Iraqi Dinar currency outside the borders of the country of Iraq in any way at this time.
A clear statement of the facts regarding the Iraqi Dinar paper currency and the rules and regulations those in possession of it should be aware of would be sufficient. If you could have my request answered quickly with the response written on your letterhead, then scanned and e-mailed back to me at this address as soon as possible I would be very grateful.
Thank you for your prompt attention to this matter.
Very Sincerely Yours,
David Pratt
xxxxxxxxxxxxxxxx
Director AMERAQ Exchange and Services Group
Wow Really????? This was my response.
It is not Illegal to sell or purchase dinar outside Iraq. Ask your self one question. Who would gain from such a rumor? Before I address this let me tell you why it is not illegal. First executive order 13033 makes it legal for us to invest in Iraq. This includes holding, purchasing, and selling dinar. Second if such a law exist customs would not allow the dinar dealers to import the dinar. Third Dinar dealers have a license called MSB. This stands for Money Service Business. This is issued by the department of treasury. Most reputable dinar dealers have this license. If they were doing an illegal act, the treasury would shut them down.
http://www.fincen.go...teselector.html
http://www.dinartrad...us_treasury.htm
I had some friends contact the FBI concerning the legality of this and they said that there are scams concerning the dinar, but the dinar itself is not a scam. They also said that dinar trade is not doing anything Illegal. The other currency dealers such as Dinar banker are also legal regarding their transactions.
There are some interesting points regarding this email. First to prove this law they put a link in for the CBI in Arabic. There is an exact version of this website in English, You can look up the laws regarding the CBI in English from their own site! Here is the link.
http://www.cbi.iq/in...LawsRegulations
Nothing in this link even mentions this law. There are new laws in place regarding money laundering using the dinar. Basically this practice is done to avoid paying taxes. It does not say that it is Illegal to hold or sell dinar outside of Iraq!
http://another site....ney-laundering/
It seems that Mr. Pratt is spreading this rumor in an effort to get people to open up an account with his US dinar bank. This whole thing wreaks of scam. A few months back bankers from Warka bank in Iraq said the same thing in an interview in an effort to increase their deposits. The whole thing was debunked in later articles.
Now that this motive has been revealed let us dig deeper. This comment is from Diesel
Marcus thanks for the information, it is much appreciated.
In regards to David Pratt et al. I had about an hour long conversation with an employee of that business. I must say they made a compelling argument and I was sorely tempted to initially invest with them. That is until they dropped the bombshell.
I asked if there are any fees associated with the ‘fund’ that I was to invest in. Essentially what happens is you sign an agreement with the company stating that you give US Dinar Banker all rights to your money and that they have controlling interest on said funds. So basically they can do with it as they please.
There is a 2% fee for managing the funds, but there is a 2% interest rate given by Warka Bank in Baghdad, so that is a wash.
Lastly, whenever you want to withdraw your money, that being pre or post RV there is a 20% FEE. So, if it does RV, lets play pretend for a moment, and its 1 USD for 1 IQD and you have a million in Dinar. Then the group from US Dinar Banker would get $200,000 of YOUR money.
So, the scam isn’t the Dinar Dealers selling you currency, it is these guys. FYI.
Thank you Diesel for your insight. Now that everyone knows the source of the rumor and why these people are saying this. Now let me explain why this will not be the case and settle the matter once and for all.
I tried to post the but it won't let me , but I would be very leary of this guy.
Dinar Banker does not even have an office. His suite number is a PO Box in a little tiny hole in the wall PO box store and when you go in to ask where the office is you get handed a short letter stating they only have a PO box, they do not have a physical address and they do not meet with anyone. Strictly a mail order. Then you get a warning from the person there.
ReplyDeleteNot sure if this is the same David Pratt that talked my father into investing 25,000 to a mexican bank called capital bank of mexico. It was a front for mexican pawn shops. When my father died we tried to get the money back and there was one excuse after another. The government was looking into the bank and there was a freeze on the assets, they needed more money to get mexican lawyers....etc. Beware of anything that is from a foreign country that is offering you big returns. Shame on him for enticing a older man with MS who was pressured and lied to...
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