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Did Kuwait Dinar really RV?

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Did Kuwait Dinar really RV? Empty Did Kuwait Dinar really RV?

Post by RamblerNash on Tue Sep 01, 2015 10:09 pm

Did Kuwait Dinar really RV?


Is it true that Kuwait Dinar revalue in 1991 when Iraq's invasion of Kuwait stops? Before you get the answer, I should explain to you what actually happened during that time.


Did Kuwait Dinar really RV? Did%2BKuwait%2BDinar%2Breally%2BRV

According to Business Times, 25 September 1990, Page 6, when Iraq invaded Kuwait in August 1990, they order a 12 days currency exchange for the holders of Kuwaiti dinars at one to one exchange with Iraqi dinar, each Kuwaiti dinar worth nearly US$3.5 before Iraq's invasion of Kuwait.

People who loss confidence on Kuwait change their Kuwait Dinar and the Kuwaiti currency soon withdrawn from circulation and has been replaced by Iraqi currency. During that time, Iraq don't just replacing the Kuwait currency, they also seized gold, foreign currency and goods worth between US$3 billion to US$4 billion from the Institute of the financial institutions and trading in Kuwait. The Kuwait Central Bank's vaults of gold and cash has been emptied by Iraqi troops.

On 11 August 1990, The Business Times reported that banks and money changers had suspended the Kuwaiti currency trading, with many of them even shying away from quoting other Middle-east currencies. Most expatriates living in the Middle east during that time exchange their middle east currency with US Dollar.

On 18 January 1991, Reuter reports that The Kuwaiti dinar has soared on Middle East black markets in the run up to a Gulf war in the expectation that a restored government would honour the currency at its former value.

After the invasion was over on February 1991, Kuwait issued new currency on 24 March 1991. On 21 March 1991, Kuwait Central Bank Governor Salem Abdul Aziz al-Sabah said 700 million newly-minted Kuwaiti dinars had already arrived in the vaults from Germany and London.

The New York Times, March 25, 1991 reported the Kuwait Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted in front of all banks in the city. All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

In Kuwait Dinar case, the new official exchange rate (US$3.47) is almost the same as the value (US$3.5) before Iraq's invasion. Kuwait government don't borrow money from foreign institution for the Kuwait reconstruction. They have US$100 billion in overseas investments to help them for the Kuwait reconstruction. In the closing hours of the Gulf War in February 1991, the Iraqi occupation forces set ablaze or damaged 749 of Kuwait's oil wells. All of these fires were extinguished within a year. Production has been restored, andrefineries and facilities have been modernized. Oil exports surpassed their pre-invasion levels in 1993 with production levels only constrained by OPEC quotas. The gold looted from Kuwait had been return by Iraq on August 1991.

The United Nations Compensation Commission (U.N.C.C.). also imposed a total of $53 billion in war reparations charges against Iraq. It concluded considering files and imposing charges at its June 2005 meeting. Iraq has paid $19 billion of these imposed reparations charges. The U.N.C.C. awarded Kuwait’s oil sector $21.5 billion and Kuwait’s government $8.2 billion. The U.N.C.C. also awarded Kuwait an additional $3.8 billion for claims arising from environmental damage.

What is happening during Kuwait RV in 1991 and what happened with Iraq is totally a different situation.


http://www.currencyscam.com/2014/09/did-kuwait-dinar-really-rv.html
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Post by dwm007 on Tue Sep 01, 2015 10:25 pm

Of course the Kuwaiti Dinar not "RV"!

What the people who want to believe this nonsense are doing is comparing the unofficial (and illegal!) blackmarket rate that it was trading for on the streets during the occupation to the OFFICIAL (and legal) rate of the Iraqi Dinar today, classic Apples to Oranges! The OFFICIAL rate that Kuwait had before the invasion never changed a cent, it was the same before, during and after the occupation! All Kuwaiti banks did was reopen for business as far as the rate was concerned and neither the banks nor the Kuwaiti government did a damn thing to change any rates at all, the low rate blackmarket simply disappeared due to loss of market after the banks reopened.   


Compare that to Iraq whose OFFICIAL rate is over 1000 times lower than what it was and it would take major action on the part of lawmakers and the banks to increase this rate whereas Kuwait had to do NOTHING because it's rate had never changed!

The bottom line is the only cheap Kuwaiti Dinar was the blackmark currency and the government does not control that, they certainly can't "RV" an illegally traded blackmarket currency rate!

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Post by GypZ on Wed Sep 02, 2015 7:18 am

My Goodness, This country reinstated its currency.That was a major windfall for people who were holding kuwait dinars!...I KNOW FOR A FACT BECAUSE MY HUSBAND KNEW PEOPLE IN AVIATION WHO MADE A WINDFALL WHILE WORKING IN KUWAIT AS PRIVATE CONTRACTERS. MANY EXCHANGED THEIR CURRENCY AND MADE A PROFIT!!!THATS THE TRUTH ! I DONT CARE WHAT ANY ONE SAYS BECAUSE A ARTICLE WANTS TO PLAY THIS DOWN DOES NOT MEAN IT DID NOT BENIFIT THE PEOPLE WHO HAD THAT CURRENCY AND YOU CAN POST WHATEVER YOU WISH ! I FEEL HAPPY KNOWING STRAIGHT FROM THE SOURCE !!!BOTTOM LINE NOT EVERYTHING YOU READ IN PRINT IS TRUE PEOPLE BE WARY !!!!
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Post by Kevind53 on Wed Sep 02, 2015 7:50 am

Ahh and there is the rub, the currency never actually lost value. They just suspended it until such time as control of the country was returned to Kuwait, and the pillaged currency returned to their control.

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Post by ReapAndSow73 on Wed Sep 02, 2015 9:42 am

There was a reinstatement, and digital KWD holders 'made' some money.  There was no revaluation, nobody could 'buy' KWD at the devalued price, hold physical currency, then become rich with the reinstatement.  The pre-1993 KWD notes were demonetized - ALL OF THEM -due to counterfeiting.  You can scream from the hilltops or type in ALL CAPS all you want.  The article is 100% correct in stating expats were positioned to exchange for USD due to demonetization, and the Kuwaiti national gov't reworked all of their contracts to issue payment in USD, NOT KWD.  They also stopped printing - unlike Iraq, who has had their printing press on overdrive to the tune of 90T IQD M1.

It's maddening to watch 'gurus' intentionally mislead 'investors' with fake news and historical inaccuracies.  This whole RV episode will end with a whimper - IQD will move from their program rate to a managed peg, and will enter via WTO at a 'price' very close to its current value.  It'll increase in value over the next decade, for sure - but only relative to USD.  There will be no 35000% overnight spike.
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Did Kuwait Dinar really RV? Empty Re: Did Kuwait Dinar really RV?

Post by dwm007 on Wed Sep 02, 2015 10:54 am

GypZ compare these FACTS!

During the occupation Kuwait's OFFICIAL rate remained at the same level, about $3.47 while the UNOFFICIAL illegal blackmarket or street rate fell to a few cents, but there was very little avaliable at that rate anyway. Compared to Iraq Kuwait has relatively small amounts of Dinar available, there are no massive amounts to buy like Iraq has, there are no large notes such as the 5,000, 10,000 and 25,000 like Iraq has!


Kuwait simply reopened for business, they exchanged for a new currency at essentially the same rate to eliminate stolen and counterfeit notes but nether the Central bank nor the Government had to do ANYTHING to raise the rate since officially it never fell, then the low rate blackmarket simply disappeared because no one was selling their Dinar cheap anymore, the Government did NOTHING to make that happen!

Compare that to Iraq, their currency is worthless due to massive overprinting and both the OFFICIAL and UNOFFICIAL rates are about the same. It would take drastic and heretofore unheard of actions by the Iraqi's to "RV" unlike Kuwait who's OFFICIAL rate never fell and they had to do NOTHING to again exchange at the old rate!

You simply can't compare the UNOFFICIAL and illegal street rate of Kuwaiti Dinar during the occupation to Iraq's OFFICIAL and legal exchange rate today, it's two entirely different things! Yet that's exactly what the gurus did to mislead people.

That article mostly deals with replacing the currency after the occupation and hardly touchs on the real reason for the myth, THERE WAS NO DEVALUATION to "RI"! The Kuwaiti Dinar that everyone wants to believe was devalued to almost nothing as the myth says and was preached by the gurus was nothing more than the blackmarket rate I mentioned above, basically it was only the Dinar that people and businesses outside Kuwait had in their possession at the time of the invasion, most of these people thought that Kuwait and the Kuwaiti Dinar was done and desperate for cash they could spend they traded their unspendable Dinar for whatever they could get for it, often just a few cents per Dinar! There were no dealers or banks selling Kuwaiti Dinar at a devalued exchange rate, IT NEVER HAPPENED!


Last edited by dwm007 on Wed Sep 02, 2015 2:27 pm; edited 1 time in total

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Post by Ponee on Wed Sep 02, 2015 12:00 pm

Good info and discussion n this thread


Last edited by Ponee on Wed Sep 02, 2015 12:17 pm; edited 1 time in total

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Post by GypZ on Wed Sep 02, 2015 12:13 pm

I'll tell you what I've had my iraq dinar for over 11 years ! Thence i am not listening to some idiots who jumoed in on this for a quick fix to their financial problems!TO ALL YOU PEOPLE WHO DID NOT SERVE IN IRAQ YOU DONT EVEN DESREVE TO BE HOLDING IRAQ DINAR IN MY OPINION !THAT SETTLES IT NOW YOU REALLY KNOW WHAT I THINK! THE ONLY THING THAT HAS COME FROM A WHOLE BUNCH OF GET RICH QUICK JUNKIES PURCHASING IRAQ DINAR IS A CIRCUS SHOW!MY HUSBAND WORKED HARD TO GIVE OUR FAMILY THE OPPORTUNITY TO HAVE THIS MOMENT AND I WILL NOT ALLOW A BUNCH FOOLS TO TAKE FROM US WHAT WE DESERVE .THAT IS THE ENJOYMENT OF KNOWING HE PLAYED A PART A HUGE PART IN THE CHANGE IN THIS COUNTRY AND NO ALL YOU PEOPLE WHO BOUGHT IRAQ DINARS .UNLESS YOU ARE MILITARY OR CIVILIAN CONTRACTER I DONT THINK YOU  CAN SAY THAT SAME THING.DID YOU SACRIFICE TIME FROM YOUR FAMILIES AND PUT YOUR LIFE'S ON THE LINE ?????? NO I REST MY CASE !!!!!!!!!!!!GO BACK TO THE PLAYGROUND WHERE YOU CAME FROM AND REMEBER THOSE AMERICANS WHO TRULY DESRVE THIS EXCHANGE AND NOT THE GREEDY CON MEN, SLASH GURU'S ,JUST PLAIN DELUSIONAL AMERICAN PUBLIC!!!!!!!!I AM CONFIDENT IN MY KNOWING AND DONT FORGET TO BUY YOUR TICKET TO THE CAROUSAL RIDE,ROUND AND ROUND AND ROUND YOU ALL GO!!!!!!!
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Post by dwm007 on Wed Sep 02, 2015 1:08 pm

@GypZ wrote:I'll tell you what I've had my iraq dinar for over 11 years ! Thence i am not listening to some idiots who jumoed in on this for a quick fix to their financial problems!TO ALL YOU PEOPLE WHO DID NOT SERVE IN IRAQ YOU DONT EVEN DESREVE TO BE HOLDING IRAQ DINAR IN MY OPINION !THAT SETTLES IT NOW YOU REALLY KNOW WHAT I THINK! THE ONLY THING THAT HAS COME FROM A WHOLE BUNCH OF GET RICH QUICK JUNKIES PURCHASING IRAQ DINAR IS A CIRCUS SHOW!MY HUSBAND WORKED HARD TO GIVE OUR FAMILY THE OPPORTUNITY TO HAVE THIS MOMENT AND I WILL NOT ALLOW A BUNCH FOOLS TO TAKE FROM US WHAT WE DESERVE .THAT IS THE ENJOYMENT OF KNOWING HE PLAYED A PART A HUGE PART IN THE CHANGE IN THIS COUNTRY AND NO ALL YOU PEOPLE WHO BOUGHT IRAQ DINARS .UNLESS YOU ARE MILITARY OR CIVILIAN CONTRACTER I DONT THINK YOU  CAN SAY THAT SAME THING.DID YOU SACRIFICE TIME FROM YOUR FAMILIES AND PUT YOUR LIFE'S ON THE LINE ?????? NO I REST MY CASE !!!!!!!!!!!!GO BACK TO THE PLAYGROUND WHERE YOU CAME FROM AND REMEBER THOSE AMERICANS WHO TRULY DESRVE THIS EXCHANGE AND NOT THE GREEDY CON MEN, SLASH GURU'S ,JUST PLAIN DELUSIONAL AMERICAN PUBLIC!!!!!!!!I AM CONFIDENT IN MY KNOWING AND DONT FORGET TO BUY YOUR TICKET TO THE CAROUSAL RIDE,ROUND AND ROUND AND ROUND YOU ALL GO!!!!!!!


GypZ, not sure what to make of your rant but all the rants and printing in capitals you can do is not going to change the facts! You may not like what you hear but you can scream as loud as you want and it will not change the FACTS that Kuwait did NOT "RV" and Iraq CAN NOT "RV", both situations are nothing but guru generated BS!


Scream as loud as you like but you still can't look at what the Kuwaiti Dinar traded for on the UNOFFICIAL illegal blackmarket during the occupation and then compare that to Iraq's OFFICIAL rate today, it's two totally different things and all the screaming you can do will not make them relevant!

Also it makes absolutely no difference what-so-ever who bought Dinar nor where they bought it! The FACT is that Iraqi Dinar is so low in value because they have over 91 TRILLION Dinars and that's the ONLY reason! It is, and will remain, ECONOMICALLY IMPOSSIBLE for that much Dinar to increase to any significant value and again all the denial and screaming will not change that FACT!


If someone bought Dinar in Iraq early on then they bought into a bad deal because of a baseless rumor, those who bought here from dealers etc were simply the victims of a scam! After 11 years of listening to total BS from gurus, the FBI and other state and federal agencies warning people that buying Dinar is a scam, banks and other financial institutions warning it's a scam, dealers and gurus being raided, charged and some going to jail and some already in jail, and the mathematical and economic impossibilities being pointed out to you, is not enough to show you that this is indeed a scam then there simply is no hope for you! You are doomed to continue wasting valuable time from life on a baseless scam that will never pay off, when this thing finally crashes down (and it will!) then you can blame it not happening on other Dinar buyers, Obama, Maliki, the PTB or the figgin tooth fairy but deep down you will know it was YOU that fell for a scam!

Wake up and look at the FACTS, they may not be what you want to see but they are what they are and denying them will not make them go away!

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Post by ReapAndSow73 on Wed Sep 02, 2015 1:34 pm

11 YEARS?  Oh wow.  To think that someone would feel privileged to be rich because you invaded a sovereign nation and debased their currency due to immoral sanctions, well...there's no saving that person.

There is no get-rich-quick opportunity, and there is no get-rich-over-11-years opportunity in holding a physical currency.  We're trying to explain this using math, economics, history, and common sense.  Currencies are correlated inversely (think see-saw).  IF IQD suddenly went to $3.00, that would mean USD would drop in inverse proportion.  None of this happens in a vacuum, despite what gurus tell you (I love the slow roll-out theory, one of the most inane guru lies). A spike to $3.00 creates close to $300T in IQD value instantly - like 10x the entire circulation of all currencies on the planet.  Uh, no.

Keep holding on - there will come a time where your 3-zero notes will be demonetized (yes, that would be across the entire globe, not just in Iraq...another laughable guru lie), and you'll be faced with, 'selling them back' to a dealer at a loss.  Reality is a cruel mistress.
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Post by dwm007 on Wed Sep 02, 2015 1:54 pm

@ReapAndSow73 wrote:11 YEARS?  Oh wow.  To think that someone would feel privileged to be rich because  you'll be faced with, 'selling them back' to a dealer at a loss.  Reality is a cruel mistress.


I think it's becoming increasingly clear that once the re-denomination/delete zeros/ LOP is officially started there will be no where to sell this nearly worthless paper as it will then be truly worthless! There's no way Iraq is going to want to refund the untold BILLIONS of Dollars it took in for that currency (they have it now so why would they want to give it back?) and the information that has come to light recently has made it clear they are in no way legally obligated to do so, quite the opposite actually.

The dealers will almost certainly disappear as fast as a shadow when the lights are switched off! That is if they are not all in jail by that time, Lol! Even if some dealers do hang around because they may have a way of smuggling the currency back into Iraq (and IF Iraq has not declared those serial numbers invalid just as Kuwait did after the occupation!) they will pay only a tiny fraction of what it sold for, how could they do anything else since all they could get for it is the legal exchange rate?

The fact is Iraq is well aware of the serial numbers of those new notes that left the country, no sane person could think that as many pallets as there were of brand new un-circulated notes that left the country that the Iraqi officials were not aware of it and where they were going! TRILLIONS of Dinar left the country as brand new 25,000 Dinar notes stacked in heaps on wooden pallets (remember the pictures from Tampa Dinar?) and the Iraqi Government didn't know? Yeah RIGHT! They HAD to have known and there's no doubt about it so why did they allow it to happen? Well to be sure it WASN'T so they could buy them back for a thousand times more than they were getting for them, Lol!!!!!


No, Iraq knew where these notes were going and just like Kuwait did after the occupation they can easily, and legally, declare them invalid and there's not a damn thing Dinar holders outside the country can do about it!


Also to think that Iraq somehow owes a reward of some kind to those who invaded their country is simply insane!

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Post by ReapAndSow73 on Wed Sep 02, 2015 3:06 pm

Here's the hilarious part of all this - Iraq does not WANT a strong currency.  Debtor nations with huge deficits and rely on exports to fund economy want WEAK currency.  When they export oil via petro-dollar, they export their inflation (sound familiar?  Right, the US does this too).  All this jibber-jabber about how Iraqi citizens want a strong currency - uh, their govt and central bank want IQD to remain weak.  Their incessant printing ensures it'll remain weak!
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Post by dwm007 on Wed Sep 02, 2015 5:20 pm

That 91 TRILLION Dinar is what will absolutely prevent any significant increase as long as it exists and the ONLY way to reduce it is through re-denomination/LOP!


GypZ, if you are still reading this then think of it like this, if you had a thousand Dollars in a checking account and you wrote 10 $100 checks you would be even with the $1000 to back those checks with, that's Iraq's situation with their reserves vs their money they issued! Now you could also write 1000 $1 checks and you would still be in the same situation with $1000 worth of checks out there but with $1000 to back them with. In other words you could have 10 $100 checks or 1000 $1 checks but you CAN'T have 1000 $100 checks. yet that what the gurus are suggesting that Iraq is going to do!



Here's where the scam comes in, Iraq once had only a small number of Dinar notes issued but they were worth over $3 because there were only a few in circulation and they had the reserves to cover them at $3 but now instead of only a few BILLION Dinars to cover they now have many TRILLIONS, they can only cover those many TRILLIONS up to the amount in their reserves!

To do what the gurus have duped you into believing would be no different then you saying, hmm, my checks were once worth $100 each when I had only ten of them out there but now that I have a thousand out there they are only worth a Dollar each. Ok I need more money so I am going to declare my checks now to be again worth $100 each even though there are now a thousand of them instead of just 100.

The problem with that is that now you would $100,000 Dollars in you account to back those checks with but you don't have it so what happens?

It's the same with Iraq, they have only about $60 Billion to $70 Billion Dollars to back their currency so they can issue a few notes at a high value or a lot of notes at a low value (which is what they did!) but they can't exceed the 60 to 70 Billion Dollars worth of currency! This simply means they can have a LOT of currency in circulation at a low value, which they do, but they CAN NOT issue a LOT of currency at a high value because it would add up to more money than they have to back it, actually with 91 Trillion Dinar it would come to more money than exists on the planet at $1!

This can't happen! no matter how many temper tantrums people throw and no matter how loudly they scream it can despite the proof to the contrary this thing is not, nor ever was, going to happen. You have wasted 11 years of your life living and waiting on a fantasy don't you think it's about time you just maybe at least consider the real truth about this?

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Post by RamblerNash on Sun Nov 06, 2016 12:09 am

@RamblerNash wrote:Did Kuwait Dinar really RV?


Is it true that Kuwait Dinar revalue in 1991 when Iraq's invasion of Kuwait stops? Before you get the answer, I should explain to you what actually happened during that time.


Did Kuwait Dinar really RV? Did%2BKuwait%2BDinar%2Breally%2BRV

According to Business Times, 25 September 1990, Page 6, when Iraq invaded Kuwait in August 1990, they order a 12 days currency exchange for the holders of Kuwaiti dinars at one to one exchange with Iraqi dinar, each Kuwaiti dinar worth nearly US$3.5 before Iraq's invasion of Kuwait.

People who loss confidence on Kuwait change their Kuwait Dinar and the Kuwaiti currency soon withdrawn from circulation and has been replaced by Iraqi currency. During that time, Iraq don't just replacing the Kuwait currency, they also seized gold, foreign currency and goods worth between US$3 billion to US$4 billion from the Institute of the financial institutions and trading in Kuwait. The Kuwait Central Bank's vaults of gold and cash has been emptied by Iraqi troops.

On 11 August 1990, The Business Times reported that banks and money changers had suspended the Kuwaiti currency trading, with many of them even shying away from quoting other Middle-east currencies. Most expatriates living in the Middle east during that time exchange their middle east currency with US Dollar.

On 18 January 1991, Reuter reports that The Kuwaiti dinar has soared on Middle East black markets in the run up to a Gulf war in the expectation that a restored government would honour the currency at its former value.

After the invasion was over on February 1991, Kuwait issued new currency on 24 March 1991. On 21 March 1991, Kuwait Central Bank Governor Salem Abdul Aziz al-Sabah said 700 million newly-minted Kuwaiti dinars had already arrived in the vaults from Germany and London.

The New York Times, March 25, 1991 reported the Kuwait Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted in front of all banks in the city. All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

In Kuwait Dinar case, the new official exchange rate (US$3.47) is almost the same as the value (US$3.5) before Iraq's invasion. Kuwait government don't borrow money from foreign institution for the Kuwait reconstruction. They have US$100 billion in overseas investments to help them for the Kuwait reconstruction. In the closing hours of the Gulf War in February 1991, the Iraqi occupation forces set ablaze or damaged 749 of Kuwait's oil wells. All of these fires were extinguished within a year. Production has been restored, andrefineries and facilities have been modernized. Oil exports surpassed their pre-invasion levels in 1993 with production levels only constrained by OPEC quotas. The gold looted from Kuwait had been return by Iraq on August 1991.

The United Nations Compensation Commission (U.N.C.C.). also imposed a total of $53 billion in war reparations charges against Iraq. It concluded considering files and imposing charges at its June 2005 meeting. Iraq has paid $19 billion of these imposed reparations charges. The U.N.C.C. awarded Kuwait’s oil sector $21.5 billion and Kuwait’s government $8.2 billion. The U.N.C.C. also awarded Kuwait an additional $3.8 billion for claims arising from environmental damage.

What is happening during Kuwait RV in 1991 and what happened with Iraq is totally a different situation.


http://www.currencyscam.com/2014/09/did-kuwait-dinar-really-rv.html
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Post by Ponee on Thu Feb 16, 2017 10:57 am

.

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Post by Oldtimer61 on Fri Feb 17, 2017 4:54 pm

NO!

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