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 Revaluation of the Kuwaiti Dinar - 1991

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me4RV
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PostSubject: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 12:29 am



This is the only article I found regarding the Kuwaiti Dinar Revaluation in 1991.  Basically when Saddam invaded Kuwait, the Kuwaiti Dinar was intentionally devalued so that Hussein wouldn't reap the benefits of having confiscated a powerful currency.  The Persian Gulf War ended Feb 28 and the revaluation took place within a month on March 24, 1991.


Many people on these forums including our good friend Dusty have said in the chat rooms that they knew people who cashed in and made millions on the Iraqi Dinar.  I even got a pm recently where someone said Ali from Dinar Trade made money off of it and I proved that was not true.  Anyway forget the rumors... does anyone have any proof that anyone of us regular folks (not George Soros) made money off of the revaluation of the Kuwaiti Dinar?

I know internet wasn't as ubiquitous back then, but it would go a long way to know that this has happened before.  Otherwise, does that mean we are RV pioneers?  Also, Dan has stated on PTR several times that this is such a great instance and books will be written about it.  Im sure once it happens there will. But why no books about any previous RV especially the Kuwaiti RV?  


Im asking since the Kuwaiti RV is often sited as a reason to invest in the devalued IQD which is supposed to revalue, i think its fair enough to ask if there is any proof of people making money (millions) off of the RV?!!!


PLEASE SHARE    


http://articles.latimes.com/1991-03-24/news/mn-1395_1_kuwaiti-banks
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 12:48 am

Any information proving people other than george soros made money off of Kuwaiti RV is helpful thanks!
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 12:59 am

@me4RV wrote:
Any information proving people other than george soros made money off of Kuwaiti RV is helpful thanks!
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 1:23 am

surely one of us people who invested in this knows someone who actually made a profit from it...???
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 1:30 am

I would like to know how you 'proved' Ali didn't make money on the Kuwait r/v, especially since Ali never said he made money from it, but rather his father did? If I remember last year hearing Ali speak about it on a call, it was that he was able to go into the currency business because of what was made on the Kuwait r/v.
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 1:44 am

@me4RV wrote:
surely one of us people who invested in this knows someone who actually made a profit from it...???


Sorry here it goes...
I do not know anyone personally but can tell you that the friends who convinced us to invest in the dinar said that his other friends uncle had made a fortune on the Kuwait RV... He is supposedly heavily invested in the Iraqi dinar now.
Oh my gosh that sounds so funny but it is the way it is Smile
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 1:57 am

@soulwarriorone wrote:
I would like to know how you 'proved' Ali didn't make money on the Kuwait r/v, especially since Ali never said he made money from it, but rather his father did? If I remember last year hearing Ali speak about it on a call, it was that he was able to go into the currency business because of what was made on the Kuwait r/v.

On this video: http://www.youtube.com/watch?v=kvKrqeOf9oc he says that he started dinar trade with his dad with an initial investment of $10,000...that doesn't sound like a millionaire starting a new venture, but a entrepreneur starting a small business which he has since grown. I was talking about Ali from DinarTrade. Is that the same Ali your referring to. I guess its not full proof, but it seems like a sure bet that he didnt make money off of the Kuwaiti Dinar. Unless ofcourse he was Kuwaiti citizen who gathered all the devalued Dinar and then cashed in...thats a different story.

Thanks for the query. Please reply!
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 3:38 am

maybe the initial investment of $10,000 was just that - a dad teaching his son to become a entrepreneur of a small business and make millions - "Give a man fish and he eats for a day - but teach him to fish and he eats forever"

Just saying....
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 4:10 am

@hagie427 wrote:
maybe the initial investment of $10,000 was just that - a dad teaching his son to become a entrepreneur of a small business and make millions - "Give a man fish and he eats for a day - but teach him to fish and he eats forever"

Just saying....

true, but he made it seem like the whole business started with $10,000 and grew as people bought dinar...im just hypothesizing....but back to the question...anyone know anyone who made money off of the RV of kuwait...also it happened only a amonth after the war???
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 5:14 am

@me4RV wrote:
http://articles.latimes.com/1991-03-24/news/mn-1395_1_kuwaiti-banks



This is the only article I found regarding the Kuwaiti Dinar Revaluation in 1991. Basically when Saddam invaded Kuwait, the Kuwaiti Dinar was intentionally devalued so that Hussein wouldn't reap the benefits of having confiscated a powerful currency. The Persian Gulf War ended Feb 28 and the revaluation took place within a month on March 24, 1991.


Many people on these forums including our good friend Dusty have said in the chat rooms that they knew people who cashed in and made millions on the Iraqi Dinar. I even got a pm recently where someone said Ali from Dinar Trade made money off of it and I proved that was not true. Anyway forget the rumors... does anyone have any proof that anyone of us regular folks (not George Soros) made money off of the revaluation of the Kuwaiti Dinar?

I know internet wasn't as ubiquitous back then, but it would go a long way to know that this has happened before. Otherwise, does that mean we are RV pioneers? Also, Dan has stated on PTR several times that this is such a great instance and books will be written about it. Im sure once it happens there will. But why no books about any previous RV especially the Kuwaiti RV?


Im asking since the Kuwaiti RV is often sited as a reason to invest in the devalued IQD which is supposed to revalue, i think its fair enough to ask if there is any proof of people making money (millions) off of the RV?!!!


PLEASE SHARE




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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 5:41 am

The Kuwaiti dinar was never Revalued, it was restored, re-instated. Nor was Kuwait under any sanctions, the whole idea that this can be compared in anyway, shape or form to Iraq is just silly.

But it keeps being brought up in the same context for some inexplicable reason!!

People did make money, but obviously have the common sense to keep quiet about it, went from 5-10 cents to over 3 dollars within a year.

Wiki has a good description of the Kuwaiti currency, and also bear in mind that Kuwait is a tiny country compared to Iraq.

http://en.wikipedia.org/wiki/Kuwaiti_dinar
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 6:07 am

I have been told that Ali of Dinar Trade, that his family made money off the Kuwaiti dinar. Was told that is how they got started. Be advised this is just hear say but from a source I trust.
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 9:38 am

From my understanding, it was not Ali who invested in Kuwait, it was his father. If I remember correctly, Ali attended a university in America and eventually worked on the floor of the NYSE. I realize that is not tangible proof, but that was the word on the streets a few years ago.
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 10:11 am

Well the reason I ask, is because this is one of the reasons sited to invest in IQD by the dinar sites. Well, I guess dinarbanker recently changed their website , but they used to have duh info before.

So does anyone know someone other than Ali?
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 10:25 am

@me4RV wrote:
Well the reason I ask, is because this is one of the reasons sited to invest in IQD by the dinar sites. Well, I guess dinarbanker recently changed their website , but they used to have duh info before.

So does anyone know someone other than Ali?

I dont think anyone has because we would see them on these sites or see articles etc. This link below is very lengthy but you can skip is blog post and just start reading the Q&A comments below the article where he counters every single thing on this investment no matter what is stated or asked. He brings up the Kuwait history several times .....It will definitely make you go HMMMM.....

http://www.learningmarkets.com/the-iraqi-dinar-scam/

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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 11:09 am

@Psalm85:13 wrote:
@me4RV wrote:
Well the reason I ask, is because this is one of the reasons sited to invest in IQD by the dinar sites. Well, I guess dinarbanker recently changed their website , but they used to have duh info before.

So does anyone know someone other than Ali?

I dont think anyone has because we would see them on these sites or see articles etc. This link below is very lengthy but you can skip is blog post and just start reading the Q&A comments below the article where he counters every single thing on this investment no matter what is stated or asked. He brings up the Kuwait history several times .....It will definitely make you go HMMMM.....

http://www.learningmarkets.com/the-iraqi-dinar-scam/


wow this sure made me go hmmmmmm! I hope the RV happens the way we want it!!!
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 12:55 pm

@mommyof3boys wrote:
@me4RV wrote:
surely one of us people who invested in this knows someone who actually made a profit from it...???


Sorry here it goes...
I do not know anyone personally but can tell you that the friends who convinced us to invest in the dinar said that his other friends uncle had made a fortune on the Kuwait RV... He is supposedly heavily invested in the Iraqi dinar now.
Oh my gosh that sounds so funny but it is the way it is Smile

Interesting, atleast its some what of a confirmation!
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 1:11 pm

A very close personal friend of mine and his wife were on church missions in Kuwait when Iraq invaded. He said they had tons of Kuwaiti Dinar on hand because that is the way the economy worked there. CASH. They needed cash in hand to conduct their business.

So when Iraqi troops crossed the border they packed up and headed back to the USA, along with all the Kuwaiti Dinar.

He told me that when they converted back to dollars (after the war) they made a ton of profit. He didn't quote an exact figure but he did say he now wishes he had waited a little longer to convert to dollars because he could have doubled what he did get.

So that's the story I got. He did make enough profit to totally fund his next mission trip of two years. How much - he would not say.
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 3:30 pm

@TDHSC wrote:
A very close personal friend of mine and his wife were on church missions in Kuwait when Iraq invaded. He said they had tons of Kuwaiti Dinar on hand because that is the way the economy worked there. CASH. They needed cash in hand to conduct their business.

So when Iraqi troops crossed the border they packed up and headed back to the USA, along with all the Kuwaiti Dinar.

He told me that when they converted back to dollars (after the war) they made a ton of profit. He didn't quote an exact figure but he did say he now wishes he had waited a little longer to convert to dollars because he could have doubled what he did get.

So that's the story I got. He did make enough profit to totally fund his next mission trip of two years. How much - he would not say.


Thank you sounds grt
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Mon Aug 22, 2011 4:58 pm

wrong example. this is nothing like the kuwait rv. that was the same physical money. the same bills. one day worth $ 3+ the next day virtually worthless. BUT STILL THE SAME EXACT BILLS. after the war they merely raised the value of the money to previous levels. BUT IT WAS THE SAME PHYSICAL MONEY. not the case here. don't know what is going to happen but comparing this to kuwait rv is like comparing apples and cars.
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Tue Aug 23, 2011 12:13 am

@davenfl wrote:
wrong example. this is nothing like the kuwait rv. that was the same physical money. the same bills. one day worth $ 3+ the next day virtually worthless. BUT STILL THE SAME EXACT BILLS. after the war they merely raised the value of the money to previous levels. BUT IT WAS THE SAME PHYSICAL MONEY. not the case here. don't know what is going to happen but comparing this to kuwait rv is like comparing apples and cars.

interesting point, i was comparing because that is what the dinar websites used as evidence for IQD sale in America. Thanks.
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Tue Aug 23, 2011 8:27 am

I do NOT see the point of worrying about if you can find anyone who made money when Kuwait RV/RI it's currency. History tells us that such an event happened post war with Germany, Japan and Kuwait, therefore anyone using logic would expect Iraq to RI/RV it's currency post war as well....Nuff Said...!
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Tue Aug 23, 2011 10:09 am

Globalbiz, the point I see is that for years its been the IQD has been promoted and compared to the "Kuwait RV" and told that Kuwait dropped to a dime and went as high as $7 when it reinstated. Yet the MARKETS never reflected that and it seems that it was only the STREET value that declined so if you happened to be in the country at the time, you could have made some serious cash. So when the dealers are out selling their stock, they use the illusion of the Kuwait RV to make one think of riches gained from pennies spent. No wonder many people call this a scam with those kind of sales tactics. JMHO
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Tue Aug 23, 2011 11:42 am

@TDHSC wrote:
A very close personal friend of mine and his wife were on church missions in Kuwait when Iraq invaded. He said they had tons of Kuwaiti Dinar on hand because that is the way the economy worked there. CASH. They needed cash in hand to conduct their business.

So when Iraqi troops crossed the border they packed up and headed back to the USA, along with all the Kuwaiti Dinar.

He told me that when they converted back to dollars (after the war) they made a ton of profit. He didn't quote an exact figure but he did say he now wishes he had waited a little longer to convert to dollars because he could have doubled what he did get.

So that's the story I got. He did make enough profit to totally fund his next mission trip of two years. How much - he would not say.

May be true but if he had pre-war KW (high value) and cashed in after the war (high value again) doesn't seem to be a good way to make much money. To make "a ton of profit" he would have had to bought war time (low value) KW and according to your story he had the KW "on hand" when the invasion began. Buy low, sell high is how you make money
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Tue Aug 23, 2011 11:50 am

When I made my first small investment about 6-7 months ago, I did do some research and found an excellent article on Forex about trading exotic currencies which is what we have with the IQD. Unfortunately, I don't have the link anymore and Forex has multiple sites, but I believe it was a tutorial of sorts that could be found on their site that deals in "training" people who want to become currency traders.

Exotic currencies are currencies which may very well be undervalued for one reason or another. It's a legitimate business venture and of course speculative, but as Forex points out, the returns can be quite lucrative. Like any other investment, it requires due diligence and patience. Thanks to the many people who contribute here on this and other sites, we have access to a great deal of information which takes a little of the legwork out of our job as investors.

As for the Kuwaiti dinar, yes, they used the same currency and just restored it to it's former value, but the fact that Iraq will have new currency makes no difference. It's just the value of the currency that counts, not whether the currency itself was recently redesigned and printed. And by the way, isn't that more or less what Iraq is doing? We still don't know the rate which could very easily be close to what it was before we went in (and adjusted somewhat for inflation).

Iraq's designed new currency for several reasons - to include the different components of their population, to reflect what's gone on there historically and to have the lower denominations that will have value when they REvalue their currency. These lower denominations would be WORTHLESS if they didn't revalue. And the larger denominations will be unnecessary and TAKEN OUT OF CIRCULATION ("lifting the 3 0's) just like we have done here.

And then there are the frequent, direct statements made by Shabibi and even Maliki that they will indeed revalue their currency. Too many people seem to forget about that - and about the need for an internationally tradeable currency and about their rich, rich natural resources. These are all ample reasons for them to rid themselves of a worthless currency and replace it with one that reflects their intrinsic value.

Oh - and several months ago I did read some info from a man who did make money on the Kuwaiti dinar. Sorry, I don't remember where or when, but his experience was similar to what we're going through now, he just didn't have thousands of people on the internet to talk to.
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Sat Jun 11, 2016 11:07 am

Bumped because we need to revisit this sometimes for those who keep pumping the Kuwait RV

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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Sat Jun 11, 2016 12:34 pm

The KWD was decommissioned, nobody held on to pre-war notes and then exchanged those same pre-war notes.  Massive counterfeiting took place, engineered by the Saddam Hussein regime.  The Kuwaiti central bank reinstated the rate, nobody holding pre-invasion notes made a dime.  Wikipedia is a good start, as far as research goes...but there are DOZENS of articles explaining the mechanics. 

Iraq has massively overprinted IQD, there is no mathematical possibility they will spike their currency overnight.  In fact, CBI consulted with Turkey on the mechanics of the Lira redenomination - both Barzani and Shabs attended, in 2012.  Again, plenty of easy-to-read research explaining redenominations, including a list of close to 20 countries who have redenominated since the beginning of Bretton Woods.  There are exactly zero countries who have revalued their currency overnight, in terms of a button-push 35000% increase these mental midget gurus bloviate about.

Germany and Japan never, ever revalued their currency.  Ever.  Weimar notes were ALSO decommissioned.  Several topic threads have addressed this thoroughly here at DD. Happy hunting!
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Sat Jun 11, 2016 4:59 pm

Thank you for that additional information ReapandSow! I appreciate it. 

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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Sat Jun 11, 2016 6:02 pm

Proteus from Revalue.US once had Ali on a call and interviewed him.  He (Ali) said that his dad was a currency trader who made a ton on the Kuwaiti dinar, although he was never told how much his dad made.  Ali actually grew up in the UK and moved to Southern California as a teenager.  If you figure Ali's age at about 50 that would mean that he was about 25 during Desert Storm and the Kuwaiti dinar thing, long after they moved to the states.  How his dad managed to make a bundle on the black market for the Kuwaiti dinar when they lived in California is beyond me.  I was told by Frank Bell (Sterling) that Ali's story was total crap.  Ali's background was as a floor trader on the Chicago exchange, and he is on record that he and his dad started Dinar Trade with $10,000. 

I knew that Ali's story probably wasn't true, so I gave Proteus a list of questions to ask Ali during the interview so that we would have it on record.  ReapAndSow is right.  You couldn't buy Kuwaiti dinar from a bank or currency exchange during the occupation of Kuwait, and you couldn't buy it on forex because it wasn't traded on forex.  You had to be in that region dealing in cash.  I think 99% of the stories you read in dinar forums about people making money on the Kuwaiti dinar are just pumpers creating the illusion of the IQD's potential.  To date I haven't seen any evidence that anybody made a killing on the Kuwaiti dinar.  Ali has since moved on.  I think he knew that the jig was up and he didn't want to end up in prison like the BH Group, Sterling, and Dinar Corp.  My two cents.

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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Sat Jun 11, 2016 9:00 pm

I have heard of a few ... in every case they made it buying KWD on the black market for pennies on the dollar and selling it back after it was reinstated.

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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Tue Jan 24, 2017 1:21 am

@Ponee wrote:
Bumped because we need to revisit this sometimes for those who keep pumping the Kuwait RV
Yep!
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PostSubject: Re: Revaluation of the Kuwaiti Dinar - 1991   Tue Jan 24, 2017 3:14 am

Don't forget James Wolf, Adam Montana, he invested in the Kuwaiti dinar at the right time.  Pretty awesome considering he was about 13 years old!


Dinar Vets Adam Montana Real Name James Wolf 40th Birthday from Nick Giammarino on Vimeo.



https://goo.gl/iPpTWw

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