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Friday, June 1, 2018

TWW's Kuwait RI Exchange Story,1 JUNE

Post From IQDCalls Chat Room
TWW's Kuwait RI Exchange Story


TWW:    Back in the 70's I was working for an developer in Hawaii where I met an architect/developer from Riyada. Ahmed & his wife bought 2 water front condos thru me. We three went to dinner and he proposed a job opportunity to produce market studies & marketing material for possible property investments.
 
This position was in his Riyada. The future developments would be in Abu dhabi, Bahrain & Kuwait. I went to work the in 1988-1989. I was paid thru a bank in the UK via plastic card in USD. But my monthly bonuses were also paid in USD & KWD for the 2 yrs. He explained that the KDW was on the way with a RI. For this could be the best bonus plan ever.

He spoke often abt the KWD. He had a friend, cousin, in the currency biz. (They didnt hav laws abt inside trading there.) My pay was very good so I bought quite a few KWD also thru his cousin.

​As I left SA bk to the USA I had shipped most of my KWD to a family member to keep sealed until I returned bk home.
 
Ahmad called my from the UK for me to call one of his connections here IN the USD, NYC. His contact then called me in mid December in1990 & instructed me about Kuwait Re-Instituting their currency very soon, KWD. At that time the KWD was worth 5cents to the USD.
 
He gave me the date the exchange was going to be available. I flew to NYC to do my exchange with Ahmed's friend Omar. The exchange for the KWD to the rate went to 3.41USD.
 
Their currency did not RV, they had a currency so they RI'd their currency............... With that being said I propose this: Abadi takes suggestions from Kuwait...remember the conference?
 
That was to see what other Arab leaders thought abt the IQD values when it comes to investing in Iraq. We know what happened at the conference.
 
So now Iraq is still following Kuwait assistance on how they went thru the RI process. Iraq may not RV but follow Kuwait experience and RI. This my MOHE (my own humble experience & true to life event.)

TWW    I do believe the IQD will not RV as we know it but to follow Kuwait's own RI Iraq will follow them

TWW    Due to the RI in Kwait & them setting up the huge conference in recent months, I can't believe many other conversations took place due to the fact that IQD basically was worthless to other  arab investors

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