I have a two part Q about this-
First, I heard from Tony Breitling (back 1-2 years ago when I was listening to his audios) that Chase bank (and other banks?) used to sell dinar in the U.S. (until about 2007?), Tony said that is where he bought his. If that is true, how does that reconcile with postings this week (like Mr. White yesterday) that says up until this week U.S. banks were prohibited from dealing in the IQD?
Second, was this OFAC announcement this week that sanctions are lifted against the CBI a requirement for an RV? If so, was this a surprise to all of us? Dinarupdates is the only site I look at (daily), and I don't recall anyone has been saying this was a requirement.
Mr White answered my Qs two days ago (copied from the Observer):
WMAwhite - just as the amendment to EO 13303 indicated…the asset of the CBI (the IQD) had prohibitions on it prior to this week. That doesn’t change the fact the the IQD is Iraq’s currency. However, until this week even if our banks wanted to recognize it they could not. today we can buy and sell the IQD based upon some one value…that is not an international exchange rate determined by the CBI. when a country’s exchange rate is determined it is accepted by other countries…that is not the case with Iraq…YET…instead, the IQD is not used in international commerce…instead, anyone can decide what they may buy or sell it for. [So how did the banks deal with dinar 3 years ago. If it had no value?] the IQD was the same has buying a toaster at Wal Mart… they sold the IQD the same as it they were selling silver eagle dollars.
[does the rate need to be [in] effect before the ISX goes live July 1st?] it appears there are several events on the horizon that must have a true exchange rate in place. [Are they a long way from article 8?] honestly, just like this past week, there are dominoes dropping that we are unaware of until after they hit. there are so many events happening that are happening because the CBI is preparing to change the rate of the IQD. these events have never happen before in this investment.
I can tell you that in about 2011 or 2012 the banks located at Walmart locations in Texas would sell IQD. When I first began to accumulate IQD I called a location and they indicated they would have to order it in, but that it was available. I never did get it from them because they couldn't guarantee that I would get new uncirculated bills.