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Networth's Achievements


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  1. It means the market for selling your dinar is drying up. Not a good sign. If this thing was going to RV, people would be stumbling over themselves to buy your dinar.
  2. The whole idea was to separate you from your dollars. They entice you with promises of riches and wealth beyond your wildest dreams and then string you along with promises of buying your dinar back as long as possible. Once people stop buying their product, they quietly drop out of the market and you're left with dinar that have no value and no market. If you can't (or don't) sell back your dinar, you've lost 100% of your "investment"! Who are you going to call when that happens? You've got no recourse. You got scammed!
  3. With ridiculous gibberish like this, how can anybody continue to take this "investment" seriously? The guy is a joke and he's making a mockery of the dinar. I wouldn't be at all suprised if he's being paid to put this garbage out so people will continue to cling to faith that the dinar will actually re-value. Even if they don't buy more dinar, it's advantageous to convince them to hold on to their dinar for as long as possible. Somebody gets use of the dollars in the meantime.
  4. If you hold your dinar forever and refuse to sell it back under any circumstance, you are taking a 100% loss on your investment. You conduct all your commerce in US dollars. When you buy groceries or gas or other investments, you use US dollars. Your gas station or grocery store won't accept dinar as payment. Dinars only have value to you right now because you believe they have the potential to produce more US dollars for you later. They have no other purpose. When you and I bought into this what we really wanted were more US dollars. So we agreed to trade some US dollars in our possession now for the potential to get even more US dollars later. I have recently drawn the conclusion that the dinar is NOT going to revalue. Therefore, there is no value in continuing to hold dinar. But if I continue to hold my dinar, then I have accepted a 100% loss for no reason. Since my dinar still had some US dollar value to other people, I agreed to sell them and limit my loss to 27%. I now have $840 that I can conduct commerce with. Perhaps I could have received slightly more US dollars for the dinar elsewhere but it wasn't enough to compel me not to sell right now. I have never bought an investment with the idea that I would never, under any circumstance, sell it. That is silly. If I buy stock in a company and realize that they are losing money, losing customers, and don't have many prospects for future growth, I sell it! Holding the stock certificates indifinitely does me no good. Some people have admitted they are willing to lose everything they invested in dinar. That's their prerogative. That was not mine. Once I realized I will not receive more US dollars later as a result of this investment, it seemed prudent to try to get whatever US dollar value remained in it. So that's what I did. Hope this helps.
  5. Well, I guess he was just a little wrong. It's good to bring up these old posts. It reminds people of the perpetual, non-stop, foolish hype of this investment. How many more millions of dollars were spent on dinar since this "more confident than ever" prediction?
  6. If I thought there was any possibility of a revaluation I probably would not sell. However, I sincerely believe it is NEVER going to happen. In which case, it is foolish to hold 1,000,000 dinar which have absolutely no value to me. I can't buy a single thing with them. I agree that people waste their money on all sorts of things. But it's an irrelevant point related to this investment. "Waste" is in the eye of the beholder. I did not invest in the dinar intending to waste my money. I viewed it like any other investment. I don't buy a stock and expect that I will hold it forever and NEVER sell. If I am convinced that I have maximized the gain (or minimized the loss) on a stock, I sell it. After all, there are opportunity costs that get missed every day you remain illiquid in a stock or foreign currency. In this case, since I don't believe there is any potential in the dinar, it's silly to keep holding. A 1% chance of revaluation (which I think is too high) is still not a reason for me to hold. Obviously, if you refuse to sell your dinar (or stock) under any circumstance or any condition, you are willing to take a 100% loss on your investment. In the case of the dinar, I think you are guaranteeing a loss of 100%. I can't think of a bigger waste than paying money for something and getting absolutely nothing but an embarrassing story to show for it. I will continue to monitor this and other dinar information boards. If I see real news or information that leads me to believe the dinar might actually re-value (and not a bunch of ridiculous hype), I can always buy dinar again quickly. In the meantime, I will have use of $840 (and my earlier $850 dollars from my first sale). My purchase of dinar 8 months ago was done under the guise of the revaluation being "critical", "urgent" and "imminent". It was all wrong so I'm very comfortable that I have time to re-invest if I need to (although I really don't expect that to happen). I am simply no longer convinced that any revaluation of this currency is "imminent". I was wrong to purchase dinar last October. I may be wrong to sell them now. But my general experience has been that when I invest based on emotion, I am not very successful and when I invest based on research and logic, I am much more successful. There is no question that I purchased dinar based on emotion and I am selling based on research. I certainly could be wrong but I don't think so. As I've said, for the sake of many people here, I would still be very happy if it revalued, even if I didn't benefit from it. It wouldn't be the first investment that I failed to properly analyze and I'm sure it won't be the last. But, in this case, I'm quite confident I've made the right decision.
  7. As many here know, I have become an increasingly skeptical investor in the dinar. I bought based on a bunch of hype with very little information. As I learned more, and as every single prediction of an "imminent" or "any day now" RV turned out to be wrong I felt duped. I invested based on emotion and that is a bad thing. As I've learned more about this "investment", there are just way too many things that make absolutely no sense. The ridculous track record of all the date and rate speculators has only reinforced my skepticism. This is my second sale. I sold another million dinar earlier this year. This time, I received $21 per 25K dinar note. I took about a 27% loss on the notes. That's pretty poor performance for an 8 month investment. I could have simply stuck them in a drawer and forgot about them in the unlikely event the RV occurred. But, as an investment, I made the decision that there is simply no further potential for return. Therefore, it makes sense to sell and try to take advantage of other opportunities. $840 US dollars is more valuable to me than 1 million dinar. At some point, I figure many people will come to the same conclusion that I have and the buy back rate will fall further as banks become deluged with dinar. I don't ever see the buy back rate being any higher than it is today. I still have 1 million of my original 3 million dinar. I will probably sell them very soon but I haven't made a final decision. Maybe Okie or Blaino or the folks at PTR will offer to pay me twice as much as I paid for them. After all, if the dinar is going to revalue (even at $.10), as they have been so certain of for 8 months (probably longer, but that's the extent of my experience with them), what difference does it make if you pay $2,300 per million rather than $1,150? We're quibbling over chump change at that point aren't we? (Somehow, I don't think that offer will come my way.) I may just hand them out as gag gifts to family and friends. Regardless what I do with them, I will always keep one 25K note permanently posted on the bulletin board in my home office as a reminder of what happens when you ignore common sense, logic and history and invest based on emotion. Good luck to everyone. Believe it or not, I still would be very excited if the dinar did RV. I know many people here desperately want it to RV. And since I will always have at least one 25K note, I suppose I would benefit still benefit financially if it did RV. I've always HOPED it would RV. But, I realize now it was nothing but hope. There is no basis to support it. I now believe Jack DeAngelis when he says the window for the RV closed long ago and it won't happen. He's one guy that has actually been right about the dinar. I think it's time for me to start listening to him.
  8. Oh Lord. Not another bank story. I'm sorry to be so cynical but it is incredibly far-fetched to believe that a teller at a small bank would hear or know anything about a dinar cash-in. Somebody in this chain of custody is greatly embellishing (or outright lying). I know many people WANT it to be true but why are so many people inclined to believe it? It's preposterous by any reasonable measure.
  9. I don't think you read any news articles that said that. You read a bunch of postings by people that told you that. They obviously have no idea what they are talking about. But they have to justify their existence. Ironically, many of these same people will make ridiculous assertions about dates in the future and some people will still hang on their every word and get amped up all over again. Don't do it to yourself. It is very, very unlikely that there will be a sudden, overnight RV as these people are suggesting. Save yourself the aggravation and distraction and ignore them. We can only hope at some point they lose all credibility.
  10. Winning? It's not a contest. This isnt me versus you. I'm not trying to win anything. I'm trying to use logic and common sense to explain why the dreams and expectations of many people here are out of touch with reality. I'm not trying to win. I WANT the dinar to RV. I WANT to have unbelievable wealth so I can help as many people as possible. I WANT to be wrong. But I'm not. What I want does not effect what is going to occur. The dinar is not going to RV because I WANT it to. No matter how badly I want or need the dinar to RV is going to effect the reasons why it won't RV. This isn't a battle of wills. The ultimate outcome will be dictated by the laws of economics. And the laws of economics say that wealth is neither created nor destroyed through a currency's value. Wealth is created by increasing productivity. Wealth is destroyed by reducing productivity. A currency is simply a medium of exchange that allows people to trade productivity for things they want. It's an irrefutable fact that won't be overcome or "defeated" with lots of happy talk.
  11. Iraq is NOT a wealthy country. Please stop saying it is. It is the 97th largest economy in the world. It has no manufacturing. It has no agriculture. It has no tourism. It does have rampant corruption and graft. It does have sectarian and religious violence. And it does have considerable oil and natural gas reserves. That's it. The only possible way they can raise the value of the dinar to where it was before the Saddam era is to dramatically reduce their money supply. The only possible way to do that is through a redenomination. After all, money is only piece of paper with ink on it. Once printed and disbursed, it can't be unprinted. A redenomination does not create or destroy value or wealth. It only changes the unit of measurement. You are delusional. Why do people insist on denying that the laws of economics do not exist in this case?
  12. Then inform us, please! WC is at least trying to explain the logic of why a redenomination makes a lot of sense. I understand that people don't want there to be a RD, but that doesn't make WC wrong or uninformed. The historical record suggests there has NEVER been a revaluation as everyone seems to be expecting here. Never. The Kuwait RV was not similar to this at all. It would be historically unprecedented if the dinar suddenly revalued at several times it value overnight. That doesn't mean it won't occur. But it makes the odds very, very unlikely. That is not blabbering. That is a strong suggestion that WC is right. Redenominations, on the other hand, occur quite regularly. It's a very common tool that gov't's use to give the perception of value to their currency. However, an RD does not change the purchasing power of the currency. It does give the impression that the currency has strength (even if it hasn't changed). A dinar/dollar exchange rate of 1/1 makes it seem as though the currency is stronger that if it is 1170/1. But anybody who understands foreign currency exchange knows it is not the specific rate of the currency that defines how strong it is. It's the direction of the movement (in a floating, unencumbered market) that determines how strong it is. You can sling insults all you want. But if you want credibility, you need to provide evidence of why "you know better". Otherwise you're just another delusional poster that got sucked into the overnight millionaires club.
  13. I am not convinced at all. In fact, I am convinced it is not going to revalue anything similar to what we've all been led to believe. We are not going to be rich as a result of this invesment. Unfortunately, I made an unwise, emotional decision when I bought dinar. I, like most of us, was led to believe the RV was imminent. I was told the story of Kuwait and all the great things Iraq had going for it. I was directed to the conference calls that oozed with hype. I saw the RV-O-Meter sitting at 99%. After I bought, I was certain it was going to RV late last year. I felt like the cat that ate the canary. I had snuck in just under the wire. Everybody, and I mean everybody, was saying so. For a time, I was even mad at myself that I didn't own more. Of course, it didn't RV and a whole new litany of excuses that had never been mentioned before emerged. I immediately felt suckered. I sold one-third of my original position right away and started researching it. Of course, I found out it's absolutely nothing like I was led to believe. I reasearched the actual history of the Kuwait RV. I searched for actual conversations and statements that US and Iraqi officials suppossedly said regarding the RV and found NONE of them. Not one. I asked for evidence to support a position and simply got directed to statements by other dinar holders. I then started researching central banks and the role of currency reserves. I realized they're nothing but a tool of monetary policy. Countries don't have foreign currency reserves to make money. In fact, they can't make money on them. They use them to control the value of their own currency. Nearly everything I was told was just plain wrong. I intend to sell another 1/3 of my original investment very soon. I haven't determined the disposition of my final 1/3. I may not sell it. Not because I'm holding out hope that there will be an RV but because it may be an interesting conversation piece in the future. It may also serve as a painful reminder to me of what happens when you let emotion overwhelm your common sense.
  14. The more people that say the same thing doesn't increase the credibility of what they are saying. There's a herd mentality that predominates. One goose gets out front and the others follow instinctively. They don't question the direction, altitude or season. They simply follow. Pretty soon there's a whole flock doing the same thing. Eventually, everybody assumes that they must be doing the right thing because everybody else is doing it. Everybody assumes these are sincere people that truly have "sources" they are relying upon and that the situation just happens to change from the time of their report. That can't possibly be the case. Based on how wrong and how often they've been wrong, you can ONLY conclude that they have no sources and feel a sense of self-importance watching people hang on their every word or they are devious, deceptive people that want to move everyone in a particular direction for a reason. Perhaps they receive compensation for indirectly "marketing" or influencing dinar sales. Perhaps they have a complementary service they want to provide. Who knows. We'll never know their motives. We can only speculate. But the only reasonable conclusion you can make is that they are all liars. Whether it is intentional or not, is subject to your judgment.
  15. Your tinfoil hat is on a little too tight. Petrodinars are a figment of your imagination. There is no evidence of such a thing. There are only wild assertions by internet posters posing as "gurus". Oil is priced in US dollars and will continue to be priced (and traded, for the most part) in US dollars. Our gov't never said the war wouldn't cost us a dime. Former President Bush said the war would pay for itself. His meaning was figurative, not literal. Bush believed the war would lead to democracy and freedom all across the ME. He believed this would lead to fewer military interventions and increased trade, travel and tourism and, ultimately, peace between Israel and its neighbors. The "payment" would come in the form of less conflict and more commerce, much like World War II paid for itself through sustained peace and increased trade and development with Europe and Japan. The US could care less about the value of the dinar. The dinar is an exotic currency that will not be widely used around the world. Iraq is only the 97th largest country in the world when measured by GDP. Even if violence is curtailed and corruption and graft are eliminated, Iraq is decades away from a diversified, robust economy that is not dominated by oil and natural gas. Put down your copy of American Conspiracy and turn off Alex Jones.
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