20MillionDinar

Project Glass – bring ‘em on baby Er, yes — absolutely YES — we are so ready for these glasses. Your eyes, now a consolidated window into managing your entire digital life:

Average 20-something has nearly $50,000 in debt CLARKONOMICS: The average person in their 20s has a backbreaking load of debt and it's not all about student loans. A new PNC Bank survey found that the average 20-something is carrying debt approaching $50,000. While student loan debt represents the bulk of it, there are also credit cards and car loans in the mix, in addition to a very small percent of mortgage debt. I believe parents have a responsibility to guide teenagers when they're in high school about making wise college choices. Many parents feel reluctant to do this because they feel guilty they don't have the resources to pay for a kid's college. But you need to let go of that if you're a parent. Have a conversation based on the realities of your financial circumstances. Tell your son or daughter what you can contribute to their education and then leave it up to them to decide where they go to school. Starting out a degree at a community college before going on to a four-year school is one idea I love to reduce the overall cost of education. In addition to the student loans, there are credit card debts and car loans impacting 20-somethings. It's so common that a graduate will get their first job out of college and buy their first car, usually on a five- year loan at a higher interest rate because they have little work history. That's getting things backwards. It limits your options moving forward. Nowhere is it required that your graduation gift from college be a brand new car! If you are a 20-something, please resolve to come up with a plan to tackle these debts one at a time. You have so many more options in life as you reduce the debt you have, no matter what decade in age you are.

Interesting. Thank you for clarifying this. You're right though, we have heard this saying many times, kind of stuck with us I guess.

Hey Easy & Smee, I'm just curious, who told us that when the time comes there would be all sorts of smoke and mirrors? Trying to get to the bottom of this... Is this another one of those forum facts or was it posted in a news article somewhere?

Let me know if you ever decide to come out to Hawaii. I'll be your personal tour guide, no charge!

I live in Hawaii, and yes you're right, great weather most of the time! People seem to be more relaxed out here as well, we have that good good feel good vibe! As far as banks go, we are behind all of the mainland so we would actually be "cashing in" after everybody from California to New York. California is 3 hours ahead of us and New York is 6 hours ahead... Aloha WineGuy, Just a heads up, Pacific Rim Bank deals with Dinars, well at least they use to. Haven't checked in a while.

I think Sam asked him to do an interview, just like Sam asked quite a few others to do the same. Probably to get other people's opinions and perspectives on the Iraqi Dinar. If you take a look at his website you will see what he deals with. Here is one page where he offers stock and ETF ideas: http://www.learningm...mmunity-trades/ ThinkOrSwim Group Inc. was a successful company which actually got bought out by TD Ameritrade if I'm not mistaken. I'm not trying to argue with you my friend, just reminding you that the IQD is extremely speculative and nothing is guaranteed. There are tons of money making opportunities going on around us right now as we speak, I think this is where some of the other currency experts differ than us. They are constantly on the look for money making opportunities that are happening as we speak. Not something that might happen somewhere down the road... Just my opinion. Long Term Gains: I think the only ones who have seen any real profit are the ones who got in right when the new currency was printed AND purchased it in Iraq. Those are a very very select few, I would assume mostly military / contractors. Anybody who has ever purchased from a Dinar dealer has paid a pretty high premium when they purchased wiping out any and all potential gains they would have seen if they had the ability to purchase electronic currency OR get their Dinar directly from Iraq.

It looks to me as though he is doing pretty good so far! Co-Founder of www.LearningMarkets.com I have worked in the capital markets and private equity for most of my career—including investing, writing, education and money management. Currently I am a co-founder of LearningMarkets.com a free source for videos, education and commentary on the stock, options and forex markets. Before Learning Markets I was a vice president for thinkorswim Group, Inc. My B.S. is in Business Administration from Utah Valley University and I completed the PLD at Harvard Business School in 2006. I was one of the coauthors of the book Profiting with Forex published in 2006 by McGraw Hill and have been the featured trader in BusinessWeek’s Stock Trader newsletter. My thoughts on the markets are regularly featured on www.learningmarkets.com.

Nice post! This guy clearly knows his stuff.

I think the law pertains to US banks dealing with insolvent banks. I don't think that we (US citizens) would be able to file any claims against Warka if we don't see our money back... The funds are not FDIC insured, that was the risk we took when opening up accounts with Warka.

Hey Zig, Good to hear from you buddy. Yes, sometimes it becomes hard to believe. I know there are all kinds of sites and people who talk about the collapse of the dollar, and there are always different outcomes and/or factors involved. I personally think that the US dollar can't go on the way it has been forever, that should be pretty much common sense. However, HOW it crashes remains a mystery. It more than likely won't be an overnight "crash" as that would cause massive worldwide chaos! Slow and gradual devaluation, just like what has been going on for decades is my thinking... I think the term "economic assassins" fits well with what they are doing! Like I've said before, I won't put too much time or energy into the matter, but I have prepped up so that if it DOES happen over night my family will be protected and won't be hungry. But I definitely can't see the Iraqi Dinar being the "fix all" currency involved in a worldwide RV. Just can't see that being the case. Happy Easter Zig Man! Well said Bumper. I agree, Keep is very smart and very sharp, he knows about all (well almost all...) aspects of the Dinar investment as well as all of the possible outcomes. People like to neg him or bash him because what he says goes against their hopes and dreams. I don't always agree with what he is saying either, but he does bring up some valid points. We can all hope and dream but being grounded is also important. By the way can I be named Kap too? Or how about "Kap2"

LOL Yes Please....

Darin - You are still my favorite poster. Your posts are thought provoking and always respectful. You keep an open mind and always explain your points in detail. Kudos to you my friend. By the way, I really liked the analogy you made in reference to the soda machines, makes sense. WaveOne - I am sorry to say this but I couldn't get your point out of the past 5 pages, not one... I am well informed with fiat currencies, I have read The Creature From Jekyll Island as well as listened to Edward Griffin's audio presentation about 15 times. I just don't understand what you are getting at... Seems as though you put a lot of nonsense in your posts. Some facts would be nice without trying to belittle others. Keepm - Still replying back to everybody's posts with "attitude" LOL However, I do understand where you are coming from, so many people are blindly believing in the potential "overnight 1:1 RV" even if it goes against every economic principal in the book! I understand we are in uncharted times and things are looking bad for the Euro and the US dollar. With gold setting all time high records and all the talk of the crash of the US dollar it is easy to get sucked into some of this global financial market collapse talk. However, IF this does happen, it will not all hit at once. It will be gradual... Gradual, as in, gradual like the way things have been gradually changing for the past few decades...

Q) Must the Dinar revalue at all? A) No Q) If so, what rate? A) The rate will be based on a number of factors, however, the two main determining factors are GDP and the total amount of currency in circulation.

If this is true, then in basically the past 10 years we have pissed away 1/3 of our entire country's wealth! WOW! At this rate, the US will owe more than we are actually worth within the next 20 years...

Probably not, by taking orders of $2k or more they are positioning themselves to make around $500 profit per transaction. Not bad... They are in the business of making money through buying & selling currency. They probably got tired of doing so many small transactions.

To me, from a business stand point, they are probably trying to cut back on the amount of transactions. They won't know about the potential "RV" before anybody else, that I can guarantee.

Traffic... Ads & Membership... Revenue...

No problem!

Exactly! In fact, they are the ones who created the $100 drop in Gold on February 29, 2012. They sold 15,000 Gold contracts! That is 1.5 million ounces of the yellow metal worth over $2.5 billion! That selling triggered stop loss selling and the rest is history: gold plummeted and silver followed. ...I can only think that the market action in gold and silver yesterday was intervention. Bernanke speaks; JPM sells huge quantities of gold. It appears to me that in an election year, the powers that be want to do anything in their power to avoid a pickup in inflationary pressures, and higher gold and silver prices are like a giant neon sign pointing directly at them. Yesterday’s action appears to be designed and coordinated. The selling curbed the enthusiasm of precious metals bulls. This action smells rotten. It reeks of the long arm of the government suppressing prices. It is only a matter of time before market forces rule the day. Today, prices are on the rebound with gold trading around $1720 and silver around $35.60. Gold is going above $2,000 an ounce in 2012 and silver will make a new all-time high. There is only so much ammo the government can throw at these global free markets. In the meantime, be ready: volatility in precious metals is here to stay!

From another member: Yup, I had a wire returned to me, and after I sent an email to warka they told me they updated their working procedures and all wire transfers are to be directed their corresponding bank in Germany Read more: http://dinarvets.com/forums/index.php?/topic/112813-problems-depositing-with-citi-bank/#ixzz1rKFmlpj8

I agree. Either we will see QE3 or we will start seeing higher interest rates. I actually think the latter is what we are going to start experiencing here real soon, but that is just my opinion. I don't look at your comments at combative at all. I love hearing people's views and opinions. Personally I hope we see some newer lows down in the mid 1400's or so, if we do, time for some bargain shopping! Regardless of what happens though, precious metals will see new highs in the not so distant future, right now we are just seeing some minor pullbacks in the grand scheme of things. We aren't stopping our printing presses which means we aren't going to stop seeing inflation, therefore, prices of commodities will keep moving up.

Gold's Decade-Long Bull Run Is Dead, Gartman Says Over the last couple of years, gold’s precipitous, and continued, rise fueled causal theories, with some investors attributing it to U.S. dollar weakness, others to a safe haven trade in the face of widespread market turmoil, an inflation hedge, or whatever they could correlate a chart with. The yellow metal, though, appears as a Humean experiment in causality, marrying no single trend. Gold has fallen nearly 9% since late February, trading at $1,628.5 an ounce on Thursday in New York. Gold went on a rollercoaster ride over the last 12 months, rising to an all-time high above $1,900 last spring, then tanking about 18% to December, then rising a further 15.5% to this February. According to Gartman, gold’s latest price action confirms the trend line has clearly been broken, indicating we’ve been in a bear market for 12 months, since it peaked. In Thursday’s Gartman Letter, “in retrospect it does appear that gold has not been in a bull market but has indeed been in a bear market” since August 2011, when it peaked above $1,900. “Since then,” he added “each new interim low has been lower and each new interim high has followed. How, we ask, had we missed that fact!” The catalyst for that realization has been the Fed, specifically the latest FOMC meeting and Wednesday’s minutes from that meeting. In both, markets caught a glimpse of a more optimistic Fed that, while keeping the option on the table, has seen the necessity for a further round of quantitative easing reduced by the improved economic performance. UBS’ Edel Tully adds: The minutes painted a rather more optimistic view on growth, a more convincing take on the basis for the decline in the unemployment rate and most worryingly of all for gold, an acknowledgement by the Fed of the potential for a change in the end-2014 forward guidance. With the Bernanke Fed guiding markets over the last couple of years, it should come as no surprise that gold prices are very sensitive to monetary policy. Record low interest rates amid a weak global economy pushed nervous investors out of both risk assets and the safety of Treasuries. A weak U.S. dollar, along with massive liquidity injections via QE, helped investors look to gold for it has always been: a store of value. No QE3 and higher interest rates before late-2014 would cause further damage to gold, as it would signal an improving economic environment where capital should once again channel into productive, and thus riskier, assets. Fed unwinding will definitely deal a deadly blow to gold bulls, so the real question investors should be asking is: are we out of the woods yet? If the gradual pace of economic improvement in the U.S. and the relative calm of European markets persists, then the global economy might be close to the edge of those woods. Bernanke has remained cautious, noting downside risks still abound, while ECB chief Mario Draghi was blunter on Wednesday saying risks are definitely skewed to the downside. Housing markets in the U.S. remain depressed and labor markets, while healthier, are still relatively weak. Among the best at illustrating the bear case is Peter Schiff of Euro Pacific Precious Metals. “Don’t catch the recovery fever” he told investors in his daily newsletter, adding “the recovery is not only going to falter – it’s going to evaporate like the mirage it is!” Schiff expects substantially higher interest rates, which went untested in the recent stress tests on banks, to blow the lid off major financial institutiosn. Large Wall Street names like JPMorgan Chase, Citi, and Bank of America have relied on cheap money from the Fed to keep operating. Rising inflation, as a consequence of money printing and bond buying by the Fed, will force Bernanke to raise rates. From Schiff’s newsletter: In fact, higher interest rates are not only possible, but probable. The stress tests assume long-term Treasury note yields stay under 1.8%; but that figure is the current six-month low on the 10-year, which is already dragging along its historical floor. As I write, yields are already up to 2.2%. The post-war average is about 5.2% – high enough to crater today’s banking system. The stage is set for gold to continue falling in the immediate-term. Higher interest rates and an improved economic environment suggest it’s time to put capital back to work. The improving outlook does face substantial threats, though, particularly the European sovereign debt crisis (which promises to flare up again), which could stoke recessionary fears. Add Schiff’s predicted inflation, and you could see the yellow metal rally rise through the ashes like the Fenix. At the end of the day, it all boils down to the true strength of the economic recovery. Stay tuned. Take a look at the Weekly chart of gold you will notice that peaked in September of 2011 in the 1900's. Since then we have been seeing lower highs and lower lows which indicates a bearish market on Gold. *This does not mean that gold will not rise again to new highs in the future, however, my prediction is that we will be seeing even newer lows here real soon. Probably in the low 1500's and possible lower than that.

From what I understand Citi Bank no longer deals with Warka.

My thinking is that the past 10 years were not really years of growth and development which is why I personally feel that we could see much more progress during the next 5-10. However, Iraq likes to take their sweet time so who knows. My main hope is that they DO NOT go through with the delete the 3 zeroes plan!