fishmonger

OK, so here is a question: If they sell $200M a day, 5 days a week, that is $1B of US currency that they sold in a week, right? At that rate won't they sell all their dollars in about a year? I think they would want to keep a large amount of dollars in reserves, meaning this buy back of dinar can't last long. Maybe this a real indicator that the RV is coming sooner rather than later? FM

Good link, thanks. I agree that the article says they are selling dollars, but I still don't get that from the chart at CBI. I'm guessing they have problems translating that to English too... FM

I don't think so, from the CBI today: DETAILS/NOTES Number of banks 22 Auction price selling dinar / US$ 1170 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 200,780,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 200,780,000 Total offers for selling (US$)----- FM

I saw this today, it is an interesting read. This is the first time I have seen the dinar discussed in any of the big financial press. Even better, it is not all negative, and in fact seems to be somewhat positive. http://blogs.forbes.com/greatspeculations/2011/07/27/is-the-iraqi-dinar-worthless-paper-or-maker-of-millionaires/?partner=yahootix FM

I'm not sure why so many thought that they wouldn't, or shouldn't, pay taxes on their investment. If this hits like we all hope, surely paying some taxes is to be expected. Personally, it sounds like a good problem to me, I'll pay my taxes happily. I learned a long time ago not to mess with the IRS. If you hit it big and try to avoid (not minimize, not the same thing) the tax, then you are an idiot. A greedy idiot. I take this as a sign of good things to come: RV, pay my taxes, moving on to a new phase of my life (knowing I have nothing to run from). FM

So you've seen his paycheck? Cool. Obama appointed Geithner, not the Fed. This link shows the structure of the U.S. Dept. of the Treasury: http://www.treasury.gov/about/organizational-structure/Pages/default.aspx No mention of the Fed anywhere on that link, other than in Geithner's bio. We had a Dept of the Treasury since 1789, and the Fed since 1913. While the 2 are certainly tied at the hip, much to our detriment, I can't find anything that says that the Sec of the Treasury is paid by the Fed. Other than a YouTube video, what do you have to back up your assertions? FM

The Treasury Dept is part of the Federal Gov't, and is therefore owned by the gov't. The Federal Reserve is privately owned, and is not part of the Treasury. I have no idea if the Fed or the Treasury own dinar, but suspect both do.