Warka ‘Rule Breaker’ Becomes ‘Rule Maker’
If your like me you know about Warka Bank in Iraq and their front line reputation in opening accounts for foreign companies and private Dinar investors. But what about this rule breaker, rule maker bit you may ask. Allow me to change the subject briefly then tie it all back together for you.
Rule Breaker/Rule Maker explained
Take a look at MicrosoftÒ in the very early 1990’s when AppleÒ owned the patent on what became a billion dollar function in a software application. I’m talking about the ability of a window, in WindowsÒ to be able to over lap other windows.
AppleÒ in a nutshell would allow MicrosoftÒ to create a software application that permitted the user to open multiple windows in one computer screen but AppleÒ owned the patent on the ability of those windows to be able to overlap one another.
What did Bill Gates do? Well we all know he created WindowsÒ and explicitly broke the rules regarding Apple’s intellectual property. MicrosoftÒ grew so fast that they became a rule maker. Dominating the software industry with what became a monopoly in Internet access software.
American ContractorÓ a personal security specialist who blogs right there from Iraq has deadly accuracy when it comes to gathering and broadcasting Iraq investing and Iraq current events intelligence. I’ve chat with him and regularly read his broadcasts for years already. Here is one of American Contractor’s blog post headlines from just over 2 years ago regarding Warka Bank….
***Start Quote***
“December 14 ‘2007 blog post by http://www.AmericanContractor.com
CEO Al-Warka Bank; Assets and Shares frozen by ISX”
-Courtesy of American Contractor
***End Quote***
Sounds a bit scary don’t it,…. It does to me too…. but let us jump from fall of 2007 to March of 2009
Warka Becomes A Rule Maker
Foreign investment revenue for Warka in Iraq in January and February 2009 was under 1 million US dollars per month. When Warka online banking opened in March of 2009 the bank experienced exponential growth that no one would have predicted.
Warka bank foreign investment revenue from folks who want to buy dinar like you and I went from under 1 million US per month to over 1 billion US in march 2009. Just from opening a website that accepts online applications and allows warka online banking in the form of viewing account balances and things of that nature.
Well, what the exponential growth in revenue did for Bill Gates happened with Warka too. Imagine being able to pay off all the law suits that had been brewing before the exponential growth in revenue with money left over to - influence law makers, thus becoming a Rule Maker.
There came a point where President Bill Clinton publicly gave Bill Gates a hug when Mr Gates was hit with a custom tailored change in law that would help level the playing field for competition in the software industry. Bill Clinton didn’t put Mr Gates in jail, he just gave him a hug.
Al-Warka, although I don’t know much about him; Al must be a likable guy to have a monopoly on instant bank machines in Iraq way back in the Saddam Hussein era. Owning a piece of land for a house back then was virtually impossible unless you married a women who had ties to the Saddam regime, or a brother in Saddam’s honourable Republican Guard which would be comparable to the Secret Service in the US.
Owning Dinar in a bank account in Iraq at Warka is not nearly as risky as it was a mere 2 years ago. Opportunity access procedures is something you need to be much more concerned about. How to do, what to do, what not to do, regarding a new Warka account.
Dinar Banknotes are not the only way to own dinar and diversification is key to adding strength to any portfolio.
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Written by Darren Chabluk for http://DrDinar.com
This article may be reprinted online or offline as long
As this box remains and the link is hyperlinked online.
DrDinar specializes in Iraq investing procedures
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No doubt in my mind, they pulled it off much like Gates did but, It’s all about a good product. Nothing sells like a good product in my opinion. Is Al-Warka independent from the Central bank of Iraq or is it privately owned? After all who needs another banking system similar to the U.S. Fed. If they can be as trustworthy and have the integrity of a Swiss bank, then I’m in and there is no stopping them!
Al-Warka is definately separate from Iraq Government banking. Warka is a private bank.
That good to hear Darren.
Darren I am curious about the Jack Daniels comment. What is going on over there right now?
Off the subject of Warka here… sorry… but did any of you get the memo on http://dinarspeculation.com ? It talks about how Iraq is looking toward a revalue!! >>>no later than Feb.7th!! With the exchange rate mechanism in place and the fact that they borrowed money and have to start paying the payment on that by March 17th, they “speculate” that in order to be able to pay that payment…an RV has to happen. Read up on it….it is great!
Jennifer Have you found any news on the rv from any other site? Or the ERM? Carla
That is a good read I like Adam M.It doesn’t all make sense but worth the read.I just want someone to be right for once.I will hold out for another 5 years if I have too.Please not another 5 years………….
I will wait also….does anyone know if the ERM really happened on the 12th?
I have seen nothing. But I will tell you this…. I have many family members in on this and about a handful of close friends. It all plays out in the 2010 budget. The person that got all of us in on this…has been watching this closely for years, much like you 5 year holders. I will not state the name… for privacy reasons… I came on here, not her. But she probably wouldn’t mind me sharing information with you. What I “hear” is that the 2010 budget is getting some loose ends tied up at this point and the ERM was set to go into effect on the 12th…but since they have the budget in the governments hands now we will PROBABLY see the ERM adjust with the budget. THERE IS A PLAN IN PLACE TO STABILIZE THE CURRENCY TO “PARITY” WITH THE REST OF THE REGION. It is going to happen real soon for all of us. We just have to sit back and wait for them to get their ducks in a row over there.
Jennofer thanks for the response. Please keep us posted.
Has anyone else read anything about a world revalue on everyones currecy?I know RV wasn’t the worlding but that was the meaning.
It would be cool if ours drop the IQD went way up and we would get more on our return.puff…….puff……..and pass………..pipe dreamin.lol
the dinardaddy blog is reporting that corporate banks in the united states have been notified to watch for an exchange rate change for the iraqi dinar this weekend. sounds like an rv. anyone else heard anything?
Darren, North Kerea revalued their currency loping zeroes, with old 10,000 won bills swapped for new 10 won and maximum amount of old currency that may be converted into new is 100,000 won. Now here it is a revaluation taken place and the zeroes were loped. Do you think it IQD will revalue without zero lop ?
Joe> That would be great…but I can see that. I see the U.S. Government hiring 300 new people to target I.R.S. tax skippers for small businesses (so they say) but it sure does raise an eyebrow!!! U.S. president has been talking to Iraq a lot lately!! Maybe they know something we don’t!! Can you imagine what an RV would do for OUR economy? When we (my husband and I ) try to mention the dinar to people….they look at us like we just stepped on to earth from another planet! But then you look in some of these sites and see that there are quite a few from “that other planet!” It might be a good thing that it is so “hush” “hush” although, have any of you seen the auction on their currency lately? BOOMING!!!!!!!!!! Why do they do that, anyway? Does anybody know? Sorry, on a five hour energy “kick”>>>alone>>and in the mood to talk. Anyway, I see some snags in the budget talks today. Wasn’t that suppose to be complete by the 15th? At the latest? Now they are talking next Tuesday? They really don’t want the 2010 budget done until AFTER THE ELECTIONS it looks like to me. But is that possible? To hold this off until the first week of March? If that happens, they would HAVE to go to exchange rate mechanism, right? I “heard” that the exchange rate mechanism came out on the 18th of January and is set to expire on the 18th…not the 12th. Just what I heard now…not sure. If I knew more on how to look in to that..trust me.. I would. I also “heard” that the original loan that Iraq asked for was 5 trillion and the IMF wanted a “tradeable currency” but then it went to 7 trillion and nothing is stipulated on the conditions of that loan…but if they asked for a TRADEABLE CURRENCY for 5 trillion…and then the loan went UP…that could only mean good things for us! I know that they have to start PAYING that loan back ( I am assuming in tradeable currency) in March and they have to have the RV prior to that… 30 days I hear…for it to be legal for them to do that…so what it comes down to is….WE CAN SEE ANYTHING HAPPEN ANYTIME! It is all about the budget and I wish they would get it done, already!
And I want all of you to know that I am not a pusher..or pumper… whatever those people are called. I want this to happen so bad and I don’t want to invest any more than what I have invested. Which is probably very small compared to most of you. I just got into this in November and I got excited a few times and bought some more thinking something was going to happen. Those days came and went and at the time..I figured it just gave me more time to invest. Now I am done with the buying and I am ready to sell! I hope this happens for all of us…and soon!
Jennofer you are doing fine, speak whats in heart like my wife does. She is the Carla person that posts here. You or anyone else will never be in trouble for speaking the truth or what you believe is to be the truth as long as you are trying to help others…….so KEEP GOING!
As for me I have not mentioned the Dinar to anyone. I heard about it through my wife, the Carla person that posts here, the first time I said no-way. The second time it made sense…..been buying ever since then, Sept. 09.
Trent, there is always something, ‘going on’, down there.
Attakhalil, you are not talking about a North Korea RV, you are talking about a North Korea DV, Devaluation. Compariing North Korea to Iraq, ok, lets see, North Korea has a growing list of UN sanctions due to the missle crisis. Iraq has a slowly shrinking list of sanctions with the US. Iraq also is going to experience an oil based recovery with the economy. North Korea is going to exerpeince a non oil based non recovery.
Lets compare something like Kuwaits RV to Iraqs situation, now your talking.
Matt I have heard that it came from Medic.So don’t hold your breath.He does this to people almost every weekend.I know alot of people think he is god but he always got info that never works out.
I heard about how Kuwaits currency shot through the roof. And I also “heard” that Iraq is going to do the same thing when they get their business in order over there. I am patiently waiting and sometimes impatiently, but that is beside the point. I see, and read, and hear all good things that is happening in order for there to be a RV and I believe that it will happen…I just hate the cat and mouse game. I wish they would just come out with it instead of leaving us all guessing and putting things together to see if it ads up to a RV. I know that they cannot announce it, until it happens…they auction their currency..WHY? I don’t understand…but I think their government is a lot like ours. They are not going to let their people in on what is GOING TO HAPPEN until it happens. That is why no iraqi civilian knows anything of a RV. It will be as much of a surprise to them as it will be to us. That is what I think, anyway. Politics…no wonder I slept through that class, too, in high school!
Well, I have been reading a lot today and it looks as though they are really pulling it together over there. Oil deals…out the ying yang…foreign investers showing a lot of interest in investing in Iraq, wrapping up on the 2010 budget…with a few snags..but getting there, other countries relieving them of debts, our troops looking to move on and get out of there…all good things. Now that they are looking to being on the good side of the post war and their finances looking up, if they revalue their currency, there will be no stopping their success. I have seen where it is believed that their currency isn’t worth the paper it is printed on and they just seem like a country that doesn’t want that kind of reputation. Somehow, I see this revalue happening, and real soon. I don’t see them holding off for much longer with the value their currency is now. THAT just seems like it would be the final piece of their rebuilding. They are looking really good in every other area…so I see it my little dinar buddies! Not that I am a fortune teller or anything…just a feeling. I LIKE what I am reading!
Hi guys! Is it better cash or open an account on Warka? If I decide for cash, and if the value of DInar increase (RV or big %), is sure that I can exchange in European Bank, without the danger, that Iraq Governament change the notes, launched in 2003? Thank to all person that reply m
I, personally, fought too hard, over Christmas, to get my dinar. They aren’t going anywhere any time soon out of my possession. I might look in to something of that nature if anything moves….but for now….these are my babies!
Jennofer thanks for summin that up in straight forward wording. Apparently we still don’t know exactly waht happened to the ERM on the 12th? Does anyone? Joe who is the mdeic sly guy on dinar daddy? Attakhalil thanks for bringing that up. Darren thanks for reassurance. Bought Adam’s book, everthing sounds on track….John I am persoanlly going to keep it simple, buy more dinar cash when i can and hope it revals at .20, i would be very happy….pay off the house, take a walk in the mountains……not that i live in the mountains but take a walk there anyway. We’ll see…
I should say “at least” .20 usd to the dinar, more would be better but that would be a heck of a return anyway….get us where we need to be. John my thinking is, if it revals low, the more you have the better. My retirement account doesn’t pay any better so am I the worse off for it……
Medic is one of the info gurus.I don’t know what site he is on but I read his stuff at Neno’s place.The guy loco but I like to read his stuff it sounds good most of the time but never pans out.
Just out of curiousity..where is the .20 USD coming from? What I am hearing is that if they don’t do the ERM, it will “probably” be based on the 2010 budget when it is FINALLY passed and in order to stabilize the currency to “parity” with the rest of the currencies in the region..it will HAVE to come in between $3.28 to $3.90. I would take .20…but would probably not sell all at first. I see them up with the rest of the currencies…or build up to it very quickly, anyway. I hear there IS a plan in place. Really curious how they approach “the plan.”
We should get a dinar poll going on when everyone thinks the RV will happen…have some fun with this….
Lets see…. I think we will see a RV BY…….NO LATER THAN FEB. 1ST.
2010 OFCOURSE.
The 18th of January is the aniversary for the CBI to hold the rate at 1170. Iraq had to prove that they could hold the rate while keeping inflation in check. On Feb. 7th the electoral law starts and from that point until after the elections, there will be no new laws, and no changes positively affecting cantidates over another. NOTHING CAN GET PASSED UNTIL AFTER ELECTIONS AFTER FEB.7TH. I read tonight that the government was trying to get CBI to give them money for the 2010 budget and they said that it would not happen, basically. CBI said that they have built their currency up over the past years to , basically, better the value of the dinar. I saw it on AL…..something…sorry. If you read the Iraqi papers on the CBI, I am sure you will find it and see it in the proper wording. Anyway…they are talking about the budget getting finalized in the coming days and I really see them doing something with their dinar. But if nothing happens by feb.7th…we will have to see what happens after March7th….the elections. They have a payment due on March 17th that we previously talked about and it seemed only possible to make those payments in tradeable currency so…something has to happen before Feb. 7th when the electoral law goes into effect. I guess we will see…………………
So, nobody can reply me? Thank a lot. I rewrite my post: Hi guys! Is it better cash or open an account on Warka? If I decide for cash, and if the value of DInar increase (RV or big %), is sure that I can exchange in European Bank, without the danger, that Iraq Governament change the notes, launched in 2003? Thank to all person that reply me
John…I replied. But that is my personal opinion. I don’t know much about warka…haven’t looked into letting my dinar out of my sight up to and at this point. They seem pretty safe at this point right in the hands of the holder…but if you look in the past days of the U.S. hiring 300 new people into the I.R.S. you will see that there is a statement in there that they specialize in and are going to be watching offshore accts….or something to that effect. I personnally, will deal with the flames here…no since in throwing fuel on the fire. That probably goes against the whole Warka statement here…sorry… but just for the record…I have not looked in to Warka, at all. I did see on a tv show last night that there are scams out there that promise big % back if you invest your $ in offshore accts. and many people lost their life savings over it. When it comes to your future and your finances….don’t make sudden moves. And think it through and make sure that anything you do….is safe, insured, and ligitimate.
Oh, and John…if they do what they did in 2003…we will have time to change them in. They can’t have auctions selling these notes and then change the rules in the middle of the game. If they want to play with different money, they have to give you the opportunity to switch them out. That seems safer “to me” than to have no control over a foreign bank and what the future holds for them. Just a personal opinion though, like I said. Will cross that bridge when the RV bridge is complete and I can cross that bridge first.
Thank a lot Jennofer! So for you is better cash, that is what I have. So if the RV appears, what I tell to my bank about the origin of the notes? I have many notes with the value of 25000 dinar. Now the value is about 15€, but after, it would increase of many zero. Are there banks that pay a lot of money for a notes, without take some measures?
And it is possible that in 20 days (first days of February), Dinars enter in International Exchange, and increase the value, in a such little period? For me, this changement is possible, but not in this short period, maybe in 2010, but not in 20 days. There are both operations that requires a great domand of time. What do you think Jennofer, and all member of this site?
Jennofer the .20 USD came from what Adam Montana has been posting as worse case senerio. Actually he said 10 cents to the dinar could be worse case…….i am hoping for 20 cents at min. I know one thing his January 12th date was miss leading, which is okay, he just won’t address it.
Anyway give us an update.
.20 come on guys hit the pipe and dream big.Not that .20 wouldn’t be a good return but I wouldn’t cash out.Maybe a little.
People don’t just give money away for the heck of it. It is going to have benefit them first of all. If it will benefit them, GOI, and others in control of the money, then it might roll out big, but only if it benefits them first…..how long have we ben sown this pipe dream? Some very long some not.
For me if the RV doesn’t arrive within the 7th February, we must wait several months, if not years (because there would be an exceptional case, the elections in Iraq). The RV is a big, big step, but together, Dinar must enter into International Exchange, that is a thing, that usually appens in some months, and not days. It would be nice if somebody can find on the net, how many time is passed to put the last currency in International Exchange in order of time, with all permits.
It’s beautiful hoping in a RV in some days, but I think, before it, we would see a preparatory announcement. I don’t think that one night we go to sleep, and when we wake up the dinar increase of 4000% in a night. It would be really nice, and I don’t know if it is would be the first time in the Story of Exchange ad Economy.
As I’ve said before, my plan is to keep buying on a monthly basis and keep it my hands……what i can afford, and hope for the best……i’ve got no idea how this is all going to play out…I even bought the book and still don’t know! ha!
Economic: Towards the modernization of the Central Bank of Iraq
Expect an expert in the Iraqi Central Bank get a positive effect for the foreseeable future in the monetary policy of the bank, to combat inflation by >>>>>RAISING THE VALUE OF THE IRAQI DINAR EXCHANGE RATE<<<<< by using monetary tools available, and up to contain inflation pressures generated by total expenditure. (That was the first paragraph.)
It went on to talk about…"the sales in the auction, one rose to 200 billion Iraqi dinars for each auction, after it was 100 billion dinars for each auction before. And so on….
http://www.kululiraq.com
Read up on it…..good piece of excitment.
o.k. people>>>>do you see what I see or am I blind? Look above at this small piece of information…I briefed it for ya. They are talking about a revaluation and then the auctions and how they are skyrocketing. They want to use a revaluation to better their way of life and they believe that they are up to speed in doing so. A revalue in their currency will bounce in their favor, as well……the CBI has been planning for this and they did not go in to this blind and they won’t come out blind. And then you have a bank…in Iraq…that just announced that it just spread like wildfire and you can get a mastercard to do your banking? ( Asked a lot of questions about that, by the way) I am curious at this point about it…but they still aren’t getting my babies!!! But the point is…if Warka is an Iraq bank that has ATMS in the U.S. THINK OF WHERE THIS IS GOING. What banks are going to open up to the dinar next? Maybe Warka is the first step in the RV? Maybe with Warka expanding like they are, other banks are planning to follow? And then you see an article that talks about ” ECONOMIC: TOWARDS THE MODERNIZATION OF THE CENTRAL BANK OF IRAQ…?” So….you say this cannot happen overnight? I beg to differ.
Jennofer that was a good find! Where do you get the English version? I only see Arabic.
Jennofer thanks, I hope it. But they are things for my experience, that are impossible to appears in days. And, under Article that you have post, warka can assume a role of leader. So, the light of all this, cash, is still the best?
Trent> you have to go to htp://.google.com/translate it.
John> God created the world in 7 days… anything is “possible” ! If you look in the next post, you will see that I asked many questions on the Warka ATM card. I am still looking at the “cash” option…but interested in knowing “how” all this works in the US and IF it does work in the US. If you can go to your local ATM and access your Iraq bank account with a prepaid mastercard, then what I see is a “link” in the US to really great things to come. The article says “you can open an acct with as little as $10 US. If that is the case and depending on HOW you can deposit your dinar….if the RV happens…this might be a way to cash in. I might open up with $25 US and let it sit there and see what happens and how Warka can benefit us when we see a RV. I won’t let go of mine and my husbands dinar though…I will dabble with $50 USD to test the waters…but never with my dinar.