News
Iraqi Dinar Buzz Updates
Sebastian River Holding’s Adds an Additional 100,000,000 Iraqi Dinar to Its Foreign Currency Division
2011-03-26 18:12:56
JANUARY 2ND, 2011 04:22 PM ·
SEBASTIAN, Fla., Dec 6 /PRNewswire-FirstCall/ -- Sebastian River Holding's Inc. (Pink Sheets: SBRV), today announced that the company has added an additional 100,000,000 Iraqi Dinar to its portfolio. This gives Sebastian River Holding's a total of 235,000,000 Iraqi Dinar in its foreign currency division.
"With all the great news coming out of Iraq, the rate of the Dinar rising every day and people by the busloads returning daily back to their homes in Baghdad, it was an easy decision to increase our holdings in what the company believes to be the best investment in foreign currency today," stated Daniel Duffy, president of Sebastian River Holding's Inc. "People don't realize that prior to the war with Iraq the Dinar was $3.00+ per US Dollar. Today the country is almost debt free; Iraq is one of the leaders in oil, natural gas and holds a huge amount of gold in its country, and the rate is 822.37 per million, which is up from $784.93 when we first started in March 2007."
The Company believes in the near future there will be a revalue of the Iraq Currency, it is the Company's opinion after doing its due diligence and public statements from Iraq's government officials, that the revalue could come in at between .82 and 1.00 per US Dollar. This would give Sebastian River Holdings a profit of between $192,000,000 and $235,000,000.
The article below was taken from a daily address to the people from Iraq's finance minister: Baqir Jabr Zubaidi.
"That the Iraqi government was able to extinguish the 90 billion dollars of Iraqi debt and has worked to reduce the size of inflation from 66 per cent to Between 16 - 18%, and that the Central Bank of Iraq 22 billion dollars , 3 tons of gold specifically to support the Iraqi dinar, rising value of the Iraqi dinar against the dollar from 3 thousand dinars in 2004 to between 1200 1000, the dinar this year, stressing that every effort will focus on Iraqi deleted 3 zeroes off the value of the Iraqi dinar, leading to 1 Iraqi Dinar for every one dollar."
Forward-Looking Statement
This Press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. The forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
CONTACT: Investor Relations:
Sebastian River Holdings, Inc.
Bob Green, 954-549-3811
SOURCE Sebastian River Holding's Inc.
SEBASTIAN, Fla., Dec 6 /PRNewswire-FirstCall/ -- Sebastian River Holding's Inc. (Pink Sheets: SBRV), today announced that the company has added an additional 100,000,000 Iraqi Dinar to its portfolio. This gives Sebastian River Holding's a total of 235,000,000 Iraqi Dinar in its foreign currency division.
"With all the great news coming out of Iraq, the rate of the Dinar rising every day and people by the busloads returning daily back to their homes in Baghdad, it was an easy decision to increase our holdings in what the company believes to be the best investment in foreign currency today," stated Daniel Duffy, president of Sebastian River Holding's Inc. "People don't realize that prior to the war with Iraq the Dinar was $3.00+ per US Dollar. Today the country is almost debt free; Iraq is one of the leaders in oil, natural gas and holds a huge amount of gold in its country, and the rate is 822.37 per million, which is up from $784.93 when we first started in March 2007."
The Company believes in the near future there will be a revalue of the Iraq Currency, it is the Company's opinion after doing its due diligence and public statements from Iraq's government officials, that the revalue could come in at between .82 and 1.00 per US Dollar. This would give Sebastian River Holdings a profit of between $192,000,000 and $235,000,000.
The article below was taken from a daily address to the people from Iraq's finance minister: Baqir Jabr Zubaidi.
"That the Iraqi government was able to extinguish the 90 billion dollars of Iraqi debt and has worked to reduce the size of inflation from 66 per cent to Between 16 - 18%, and that the Central Bank of Iraq 22 billion dollars , 3 tons of gold specifically to support the Iraqi dinar, rising value of the Iraqi dinar against the dollar from 3 thousand dinars in 2004 to between 1200 1000, the dinar this year, stressing that every effort will focus on Iraqi deleted 3 zeroes off the value of the Iraqi dinar, leading to 1 Iraqi Dinar for every one dollar."
Forward-Looking Statement
This Press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. The forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
CONTACT: Investor Relations:
Sebastian River Holdings, Inc.
Bob Green, 954-549-3811
SOURCE Sebastian River Holding's Inc.