DrDinar Blog

Having Iraq’s currency on the World Market constitutes an RV occurring, ok, point made…

Saddam Hussien’s Government was overthrown and the Saddam Dinar phased out in fall of 2003. There was an approximate 60 to 90 day period for the old Saddam Dinar to be cashed in for the Iraqis and those working in Iraq. This phasing out period imposed a time period to cash in old Saddam dinar or face a strong devaluation of the old currency. The reason for the cash in period was because the old currency was being discontinued due to the new Iraqi post Saddam Government.

Whenever there is a rumour that is untrue it is my moral obligation to find out where the leg grew from, a figure of speech. I can tell you this, the leg grew from what happened with the discontinuity of the old Saddam currency.

The World Bank will have nothing to do with a revaluation attempt that involves a cash in period which is purely a function of a devaluation. Hypothetically speaking, if the World Bank executed an RV and put the Dinar on the world market, the World Bank would then have to pull the Dinar back off the market after 60/90 days and make the currency restricted again like it is now. A total farce.

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This article may be reproduced online or offline
as long as this box remains and is hyperlinked
online.  Written by Darren Chabluk for
http://www.DrDinar.com
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You might think I was crazy back in the day because of what I’m going to share with you.  Back in 2004 to early 2006 I sold Iraqi Dinar from Canada and most of my sales were to the USA.  That’s not the crazy part!  My schedule at the time and the things I did to make my dinar dealing business work.

Just imagine picking up a small but bulgy 8 by 11 inch courier envelope in your home town with about $8000US worth of dinar inside and having to leave town on unrelated business.  I would fulfil orders on the road, when I got a chance to stop. 

I remember one time I didn’t get a chance to open up my shipment from my Jordon dinar supplier till I drove almost 1500 miles to Montreal from my home city.  Then preparing smaller retailable dinar packages for my clients at a food court in a busy mall.  That’s right, I once had about $8000 worth of new Iraqi Dinar banknotes spread out on a public food court table with people walking all around me.  I recall a young couple of possible Arab descent eye balling my file of cash as they walked by?!

I would never sit there in a public place and count Canadian or US currency in those amounts.  How about constantly wiring thousands upon thousands of dollars to order dinar uninsured delivery from the middle east from a man I never met, never seen a picture of, and never talked too. 

The one advantage I had was the premium price I charged for the dinars sold.  Well above what other dinar dealers charged, but I included a firm and well marketed In House Delivery Guarantee.  Had one of the shipments gone missing enroute to delivery to you, or some other client I was well prepared to cover the loss.   I never did loose an order and tracked orders right to your door!  The delivery email communication was exciting when encouraging clients to check their tracking numbers online.

The higher prices charged on dinar also afforded premium overnight delivery services on larger orders as well as bonus dinars.  People loved the bonus dinars I gave away on quarter million dinar orders and up.  The set of 7 different dinar banknotes was a popular bonus I sold.  It included the 50, 250, 500, 1000, 5000, 10000, and 25000 Iraqi dinar banknotes. 

If you are thinking about buying and selling Iraq dinar as a dealer then the DrDinar.com/helpdesk can help.

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This article may be reproduced online or offline As
long as this box remains and is hyperlinked Online. 
Written by Darren Chabluk for http://DrDinar.com
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Elections in Iraq for this year 2010 has been a close one. Both parties have publicly mentioned that the Iraq Hydrocarbon Law will be a priority after the elections.

“It will definitely be a priority,…. It won’t take us long.”, says Allawi last month, one of the 2 major players in this years elections.

All contracts awarded in 2009 will be honoured.

Major contracts were awarded too:

Exxon Mobil of the USA,

Royal Dutch Shell of Europe,

and Russia’s Lukoil.

Iraq’s current oil production is 2.5 million barrels per day with a goal of getting production up to 12 million barrels per day by 2017. Critics are piping up about the challenges Iraq will face to meet even half this goal comparing a forecast to what Saudi accomplished with oil production growth recently. Growth like this has never been done before in this amount of time.

Hydrocarbon Law Creates Oil Production Dream Team

Records are meant to be broken and this includes oil production records. Iraq’s new profit sharing oil law has brought together an international oil production effort that itself has never been done before. Major international companies such as Exxon, Shell, Lukoil plus many more all competing for bids yet working together in Iraq. An oil production dream team like this is something that Saddam Hussein orchestrated on a smaller scale. The major objective this time around will be maximize oil production.

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Written by Darren Chabluk for http://www.DrDinar.com
This article may be reprinted online or offline as long as
this box remains and is hyperlinked online.
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