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bg888

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Posts posted by bg888

  1. NewYorkKevin, check APMEX as a seller of precious metals. I have always found them to be quick and honest in all dealings. Decent prices as well. Another option is a company called Vault Wholesale. They sometimes market as having better prices than their large competitor (APMEX) and they also deliver as promised. Either way is a good choice for my acquisitions.

    • Upvote 1
  2. Labdog,

    I hear your frustration, but I look at this whole process and my decisions, as an education. Do I want Iraq to shape up and become a player with appropriately valued currency? Sure, but I am not counting on it. And the questions assumes that it does not already have appropriately valued currency, which could be a faulty hypothesis... So we wait...

    If nothing else, I am more aware of world events, economics and ways with which to structure my estate to legally protect what I have and will create whether through dinar or other means. My decisions were my decisions and no one else made me take action.

    I chose to make lemonade.

    • Upvote 3
  3. Tex, not sure if you saw my post or not but I essentially outlined the same concern. Everyone has had this exact concern since starting this roller coaster ride.

    The lopsters seem to think they will honor two different exchanges meaning low denoms at 1:1 and the old large denoms not at face value instead at the adjusted inflationary rate (1000:1) or whatever it is. Just using rounded values. That would make this a zero sum gain, or value-neutral event like has been stated would happen in the past.

    That's why Adam has always been rooting for a float starting off low because an overnight 1:1 is literally almost impossible and has never been done before exactly as we're hoping to see happen.

    I believe that without a new ISO number for a newly issued currency, both issues will trade at same rate. As long as the CBI does not get a new ISO, we should be safe with our notes. If they get a new ISO, we are probably screwed.

    • Upvote 2
  4. I very well could be wrong, but here is what I think may be happening: What are the values of currency that we, as Americans use? 1, 2, 5, 10, 20, 50 and 100.

    If they have intent to bring value back to their currency and to issue lower denominations, it makes sense to remove the smallest note they have. That leaves them with notes from 250 and up. By removing the 50, it gives the CBI a clean slate to release a new class of notes (that will likely have a higher value upon release lest they be worth fractions of a penny apiece) without having to worry about these notes still be in circulation. Remember too that these have no security features on them and a new series will.

    My hope is that when they do release the lower denoms, they will have a higher value.

    For quite some time we have seen CBI statements that the new notes will run side by side with the old (ones we have) for a period of two years.

    Again, me speculating, just because these notes will no be valid in Iraq does not necessarily mean that they won't have value to foreign central banks. Then again they may not. When the time comes for the CBI to put new LDs into circulation, they will probably also start withdrawing the large notes, 250 and up, as they are circulated through and back into banks through everyday use. As they are gradually withdrawn from circulation, they will not be replaced by the same face value notes, but by equivalent value of LDs.

    If, they assign new value to their currency, and that allows for LDs to be used in everyday transactions, the larger notes will be more difficult to use because it is very hard for a normal person to make change for a 10,000 ( just as it would be for us to use them in this country's).

    My thoughts, and a bit of wishful thinking too.

    • Upvote 3
  5. I second Miuradude's thoughts... Government will look at people with money and figure out new ways to take/tax it. Especially considering that most people with new money won't be able to keep it, through wasteful spending and big mistakes, this issue will sort itself out. ...this is not the issue to worry about, Iraq is.

    • Upvote 1
  6. Thanks, Nadita,

    Great work as always, I can't believe that so few have commented yet... I can't understand where you come up with all the time it must take to put your files together each day. It's hard enough to find the time to scan the news and opinion sections much less come up with your own commentary.

    I wish you well and much success, bg888

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