TWW's Kuwait RI Exchange Story 5/30/18

Post From IQDCalls Chat Room
TWW's Kuwait RI Exchange Story


TWW:    Back in the 70's I was working for an developer in Hawaii where I met an architect/developer from Riyada. Ahmed & his wife bought 2 water front condos thru me. We three went to dinner and he proposed a job opportunity to produce market studies & marketing material for possible property investments.
 
This position was in his Riyada. The future developments would be in Abu dhabi, Bahrain & Kuwait. I went to work the in 1988-1989. I was paid thru a bank in the UK via plastic card in USD. But my monthly bonuses were also paid in USD & KWD for the 2 yrs. He explained that the KDW was on the way with a RI. For this could be the best bonus plan ever.

He spoke often abt the KWD. He had a friend, cousin, in the currency biz. (They didnt hav laws abt inside trading there.) My pay was very good so I bought quite a few KWD also thru his cousin.

​As I left SA bk to the USA I had shipped most of my KWD to a family member to keep sealed until I returned bk home.
 
Ahmad called my from the UK for me to call one of his connections here IN the USD, NYC. His contact then called me in mid December in1990 & instructed me about Kuwait Re-Instituting their currency very soon, KWD. At that time the KWD was worth 5cents to the USD.
 
He gave me the date the exchange was going to be available. I flew to NYC to do my exchange with Ahmed's friend Omar. The exchange for the KWD to the rate went to 3.41USD.
 
Their currency did not RV, they had a currency so they RI'd their currency............... With that being said I propose this: Abadi takes suggestions from Kuwait...remember the conference?
 
That was to see what other Arab leaders thought abt the IQD values when it comes to investing in Iraq. We know what happened at the conference.
 
So now Iraq is still following Kuwait assistance on how they went thru the RI process. Iraq may not RV but follow Kuwait experience and RI. This my MOHE (my own humble experience & true to life event.)

TWW    I do believe the IQD will not RV as we know it but to follow Kuwait's own RI Iraq will follow them

TWW    Due to the RI in Kwait & them setting up the huge conference in recent months, I can't believe many other conversations took place due to the fact that IQD basically was worthless to other  arab investors

good reading but their are a few things i disagree with but, formost the fact are ture i have always believe that maybe it would do something but after many years i gave up on the dinar because of pass history of the Iraqi dinar i just hope and Pray that the people that have the dinar will at less get their money back. the kwd did reinstate people that had it mad a killing. 

the is a statement/verse  in the bible that state seek not the things of this world well rush and moth we'll take it away but build your Treasures up in heaven nether Rush or anything else will take it away it also tells is not to seek the treasures of this world

not true, not true, not true!  Oh, and not true.  There was no announcement of some spike in KWD value in 1990.  Prove it by showing a chart, it's public domain.  A bit of history first:

When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.

Whoa what's that now?  KWD was restored, but banknotes were demonetized?  Oh, I see.  But you think your pre-purchased KWD - which were demonetized - were suddenly worth over $3?  The reinstatement of KWD was executed because of the invasion - the pre-invasion notes had no value, due to counterfeiting by the Saddam Hussein regime.

https://upload.wikimedia.org/wikipedia/commons/2/2d/KWD_against_USD.PNG

So, what's the price in Fils in 1988?  89?  90?  Was it $.05, then suddenly over $3.00?

Nope.

Don't let people tell you bullshit stories and get away with it...

Nobody ever purchased KWD from a bank or currency dealer at a nickel.  Once Saddam invaded trading on the KWD was suspended. The nickel value (if it ever was actually sold anywhere by anybody at a nickel) was a black market price during the Iraqi occupation of Kuwait.  The only way to obtain enough KWD at a nickel to cash in for $1 million would have been to fork over $15,000 cash on the black market for the currency of an occupied country in the region around that country, and that didn't happen.  PERIOD!  Prove me wrong, somebody!

TWW never said he bought it from a bank...have known TWW for a while now...have never found him to be a liar so I believe him...has never bragged about this...I invite you all to come to our chat room for more discussion...TWW is often there...we welcome everyone, even you Dinar "Naysayers"...lol...I am an Admin. there now...hope to see some of you there soon at http://www.truthcall.com/chat/ I do like this forum for exposing GURUS for what they are...we do the same...Bye for now....

I READ WHAT HE WROTE AS WELL....Never did he say he went to a bank ...exactly........Please get your facts when reading accurate.......

Uh...he said he bought notes because a contact gave him pre-knowledge of an RI (which, in and of itself, is bullshit).  Those notes were demonetized - as in, they held no value.  So he did not exchange them for $3.00 per KWD.  Sorry if you've never found him to be dishonest, but his story is a lie. 

Secondly, currency charts - HISTORICAL CURRENCY CHARTS - show no devalue to $.05 and reinstatement of KWD in 1990 or 1991.  This is PUBLIC DOMAIN.  If you wanna rely on someone spinning a yarn, that's on you.  I'm telling you, his story is an absolute fabrication.

Here's the funny part - what happened in Kuwait has ZERO to do with how Iraq tries to handle their forced inversely-correlated peg to USD.  They're completely unstable, have overprinted for 14 years, have nothing to offer the world outside of oil, no infrastructure, sovereign debt is massive, politically unstable...this moronic comparison to Kuwait is the carrot dangled in front of unsophisticated, 'investors,' who are hoping for a mathematically and economically-impossible overnight windfall.  Investors don't buy physical currency and stash - there's no arbitrage, no traunch, no leverage.  But it's gonna spike 35000% overnight?  Yeah, ok.

Crippled from the neck up...and the KWD exchange story is an absolute LIE.

Zig wrote:TWW never said he bought it from a bank...have known TWW for a while now...have never found him to be a liar so I believe him...has never bragged about this...I invite you all to come to our chat room for more discussion...TWW is often there...we welcome everyone, even you Dinar "Naysayers"...lol...I am an Admin. there now...hope to see some of you there soon at http://www.truthcall.com/chat/ I do like this forum for exposing GURUS for what they are...we do the same...Bye for now....

So, you've, 'known' TWW for a while ('known,' as in you've seen his initials on a chatroom board), he never bragged about exchanging KWD...then, out of the clear blue sky, he mentions how he participated in a KWD RI?  Yeah, that's not suspicious...

awesome, so he's been fabricating the story for 2 years...

Let this marinate for just a second:

"He gave me the date the exchange was going to be available. I flew to NYC to do my exchange with Ahmed's friend Omar. The exchange for the KWD to the rate went to 3.41USD."

He got pre-determined rates of exchange before this so-called event.  He did his exchange IN NYC (not in Kuwait) with Omar (not a bank, not a registered exchanged center with real-time data...with Omar).  And he took demonetized notes, and exchanged them in the USA for over $3.00.

Are you new?  Just that paragraph alone is riddled with inconsistencies...but you've knows this guy for 2 years and still believe this?

GypZ wrote:I READ WHAT HE WROTE AS WELL....Never did he say he went to a bank ...exactly........Please get your facts when reading accurate.......

I didn't say that TWW bought it from a bank.  Maybe you should learn to read more accurate.  I said nobody ever bought KWD from a bank or CURRENCY DEALER while Kuwait was occupied because trading on the currency was suspended, and that the only place to get it at the time was on the black market in that region.  Supposedly he bought his KWD through the cousin of Ahmed the architect (LMAO!!!) because there are no insider trading laws over there.  (There aren't any over here either for currency trading, but why mess up a good story with facts, right?)  Now, why would this guy buy the currency of an occupied country on the black market in Saudi Arabia? And why would Ahmed sell it if they were all so sure that it would RI or RV or whatever?  And in order to buy enough to cash in for a million you would have had to spend $15,000 CASH!  Who's carrying around $15K cash in Saudi Arabia?  Seriously, nothing about this story makes sense.  Either TWW has dementia or he's lying.