Jonnywg...what would I do?

Guys:

More exciting jonnywg news, can't wait for 8:00 am report....!

So he asks "what would I do?:

[jonnywg] REMEMBER TO BE PREPARED IF THEY OFFER TEASER RATES ON EITHER........think it out///////what will i do?

I will cash in all my dinar (10 million!!!) at $1.00 to 1, as that is a dream windfall, put aside for the taxes and then fly to Dubai, open up a WARKA account and put in 10 to 20 percent in Dinar and let that ride to $8.00 by the year 2015 when oil is really pumping and minerals are harvested..just have to do it before it revalues again....

Example: if I have 1 million Dinar, I cash in at B of A or Chase, I'll have about $980,000 USD (assume a 2% or so fee); put some taxes aside, say 15% leaves me with about $830,000 to invest, buy stuff, pay off the house....take 10-20% which is $80,000 to $160,000, fly to Dubai and open up a WARKA account. As the Dinar revalues, it will grow. If the Dinar hits 5 bucks, you'll have $400,000 to $800,000 in the WARKA account....you still have over a half a million to buy stuff, get life in order, live....and the WARKA account can be your retirement $...

Also, put aside 10% to help others who were not lucky enough to believe in this investment or did not have the means...

I'm going to set up a charity of some sort, still working out details...

RV Today!

Feisty136

This "teaser rate" thing doesn't make sense to me. I don't see why they would come out at a "teaser rate" to get the desperate speculators to cash in when probably 99% of their currency held outside of Iraq is held by different gov'ts.

Feisty136 wrote:
open up a WARKA account and put in 10 to 20 percent in Dinar and let that ride to $8.00 by the year 2015 when oil is really pumping and minerals are harvested..just have to do it before it revalues again....
Feisty136

If you you are going to buy back 10-20% in Dinar why cash those in to start with? No taxes are paid until you cash in... just hold the 10-20% and you have already gained what you would pay in taxes

I think the large three zero bills will have to be turned in before next reval
Rather have electronic dinar

RV today!

Feisty136

Feisty136- Don't say that-I have one too many of those!LOL!

zonepirate. I believe that if you open a Warka account you must fund it in USD if you are an Americsn citizen. Then you have to convert that to IQD from there....bummer huh?! Beauty is, he doesn't have to fly there. Wire transfer will do just fine...after you open Warka account online.

Gtabdinar- Trying to open an online account is not a good idea-Too many crooks stealing online info- We all have come too far to have someone like that take what we have all strived for, JMHO.

I would like to see about investing in the Dinar stock market. Perhaps one could take some pink money to Iraq, turn it in and invest. If the info posted that they have gained 85% this year alone holds up, one could invest without paying uncle Same until you have profits/dividends coming in from a company that is going bonkers.

gtabdinar wrote:zonepirate. I believe that if you open a Warka account you must fund it in USD if you are an Americsn citizen. Then you have to convert that to IQD from there....bummer huh?! Beauty is, he doesn't have to fly there. Wire transfer will do just fine...after you open Warka account online.

May have to but when the IRQ revalues there should be a lot more options open ... Warka account is a good option for investing now... post RV? May be better options tax wise

Feisty136 wrote:I think the large three zero bills will have to be turned in before next reval
Rather have electronic dinar

RV today!

Feisty136

The articles I have read on here talk about the CBI predicting 2 or more years to get the big bills in. I think you will have some time to explore other options tax and investment wise. I'll be listening to and hiring people smarter than me about these matters to give me advise

I would just like to GO TO THE BANK and SEE REAL money available because of the Dinar.

Siaya wrote:I would just like to GO TO THE BANK and SEE REAL money available because of the Dinar.

We have been holding out breath on this thought for a very long time.

wes wrote:This "teaser rate" thing doesn't make sense to me. I don't see why they would come out at a "teaser rate" to get the desperate speculators to cash in when probably 99% of their currency held outside of Iraq is held by different gov'ts.

Wes I believe the "reason" for a teaser rate (if they do one) would be to get the dinar out of our hands and into the reserve banks so there will be less of us potential millionares to have to deal with...rick152

NO INCUMBENTS ELECTED 2012, FEDERAL, STATE OR, LOCAL

RE: Opening a Warka Account.

You guys might want to check that out thoroughly before you do that...either online or, in person. It is my understanding that once you have your money in a Warka account, you CANNOT remove it from that bank/country. Throughout the many years I've been invested...Warka account info has come and gone. Please make sure that you research this THOROUGHLY prior to making a decision that may render your monies inaccessible. You could lose everything you've worked for. JMHO. GOOD LUCK !.......Diva

There have been thousands of peeps who have opened accounts online with Warka Bank, including myself, overhe last year or so. I have not had one problem with security or transfering money either in or out. Now that a large American Bank (I believe it is Citi) is involved and owns a majority of Warka, it makes me feel all the better about my relationship with them. Tony Breitling has "pitched" them for months on his Iraq Investments blog...so much so that they got overwhelmed a few months back and were not able to handle the influx of new account business! I understand all has been taken care of and caught up. In fact I have a friend who is in the process of opening up an account now. The beauty of a Warka account is the fact that you can invest in the ISX directly through them...sort of discount broker type, as long as you know what stock(s) you want to buy. Anyway, it's working for me and I think feisty is on the right track. Go RV!!!

It's actually London based Standard Chartered Bank who bought the controlling interest in Warka. The only other ISX listed bank to have a major international financial institution as a controlling shareholder is Dar Es Salaam Bank, which is controlled by HSBC. Works for me...and thousands of others like us. Hope this helps. Go RV!!!

Thanks Diva. That was my biggest worry about it all. I have had funds wired to me from the account and I have wired funds into the account many times. So far so good. My intent, post RV is to never have more than 5% invested in the stocks of the ISX.

After this long wait for the RV, I am kind of tired of Iraq. I also think there are plenty of opportunities and RESPONSIBILITIES here in the good 'ol USA. I am licking my chops at many real estate deals and also the prospects for gold and silver and stocks. The largest percentages (for me) will be in real estate. I am not willing to commit more than 5-10% of my total assets to the stock or metals markets. And I may never see another currency trade ever again inmy lifetime!!! I want something I can visit, feel, touch and build, ie; REAL ESTATE, commercial and residential (all debt free) thank God

The original question on the open of the thread was "What would I do?" This is my answer. Hope it helps. I was nervous though about openming an account and never being able to have access to the funds again or some other long nasty process to get access. I'm glad you brought that up! Thanks. Go RV!!!

PLEASE DON'T FORGET OUR CONNECTION HERE IN THE USA WITH WARKA THRU CITIBANK IN NEW YORK... I HAVE HAD MY ACCT WITH WARKA SINCE JUNE 2006 AND MR MOHAMMAD ISSA IS GREAT IN KEEPING IN TOUCH WITH YOU AS A FOREIGN INVESTOR. ALSO, SINCE CITIBANK BECAME INVOLVED WITH WARKA, I NO LONGER HAD TO PUT FUNDS INTO MY WARKA ACCT THRU COMMERZ OR DEUTCH BANKS VIA GERMANY. WITH ALL THE CURRENT CHANGES PLEASE CHECK WITH WARKA AND/OR CITIBANK REGARDING ANY CHANGES IN THE DETAILS BELOW (SWIFT CODE, ETC.). HERE ARE THE DETAILS:



* Warka Bank & CitiBank Establish a Mutually Rewarding Banking Relationship

September 23rd, 2010 10:34 pm · Posted in NEWS (Iraq & World Currency)


Dear Warka Clients,

As the leading financial institution that has served Iraq since 1999, we have played a significant role in the reconstruction of the country by participating as a lead financier in many core sectors including power, water, communication and construction.
It gives me great pleasure to inform all our distinguished clients that Warka Bank for Investment and Finance and Citibank established a mutually rewarding banking relationship that will best serve our clients, banking industry and the economy.
We look forward to unleashing the full force of the partnership with Citibank for the benefit of the new Iraq.
Below are our account details at Citibank in which you can now direct your wire transfers to fund your accounts at our bank.

Account Number: 36908969
Account Name: Warka Bank for Investment & Finance
Bank Name: Citibank NA
Branch: New York
Swift Address: CITIUS33
Fed Wire: 021000089


Best regards,

Mohammad K. Issa
Deputy Managing Director

International Affairs