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Recent I heard about a speculator in Texas who suposedly is buying dinar now at $2 per IQD. His process is similar to the traders; make an appointment, go to his office, validate and turn in your dinar and after about 3-4 weeks your account will be credited at $2 per IQD less federal tax on the exchange. He will allow only one appointment per individual. Thus, if you wanted to "test" the system by cashing in a smaller amount, YOU could not come back later. However, you could make an appointment in the name of your spouse or significant other to complete the sale of your IQD. The idividual is also making the same offer for VND. The contact has been "checked out" by my info source and seems legit or at least has no overt evidence of a being a scammer. But this does to seem to be a new "wrinkle" of which I have not been aware over these years. Supposedly, certain banking officials (Wells Fargo, BoA, Chase, etc.) have "gotten together" and agreed to not convert IQD from private holders, especially those with smaller amounts. What that means precisely is unclear. More importantly what this means for VIP members and the Certificate is a question. This individual ostensibly has connections with CHINA. He will buy NOW your IQD at $2 and process the IQD through CHINA to pay you your value (hence the 4 wk delay). His "deal" is that "he can afford to wait" for the real RV and then through his China contacts will cash in at whatever rate (above $2) and thereby make his money. Or he is selling IQD to China to get yuan (or whatever) which is devalued right now and exchange further up the line like some Hong Kong money sellers I met on R&R in Hong Kong in 1968 during the War. According to my info, this individual will buy your IQD and pay the federal tax on the exchange so your actual return deposit will be $2 per IQD less the tax. You would still be liable for any state taxes on the exchange. The value here is that what you receive is what you'd be taxed on by your state. I'm not certain how that works (smell test). Somehow this is not passing the "smell test" for several reasons. First, China. Is China trying to dump USD? Second, unless the RV will be above $4 I can't see a benefit to paying $2 now to make a net $2 later and less to pay $2 to get $1 (at a $3 RV) unless the RV is right around the corner and this guy is a billionaire. The "hook" in this is the offer to us for $2 now instead of something higher later at some unspecified time. Just the carrying costs of the cash over time decreases any profit on the transaction as I see it. And third, I can't see banks losing the opportunity to profit on the rate differential between what they would give us and what they would get from the Fed. I don't know of any US bank that can trade directly with another nation's central bank. As I understood this in the beginning, the banks will get one rate at their level and would be giving us a lower rate by 2% or such. Just thinking that private holdings of IQD is supposedly estimated at nearly a Trillion $$ there's a lot of money to be made by just signing your name twice. How see you all on this "opportunity"? Am I seeing this accurately? Has anyone else heard of this opportunity? If legit, we have been waiting a long time and $2 now seems attractive to a continuing wait for some RV which could range from 50 cents plus or minus to $4 (per the incorrigible optimists.) If this individual is willing to pay $2 now, who cares what he's up to. "Bird in the hand...." and all that! For those of us in the VIP, if true that the banks are "iffy", how does that affect the Certificate Adam offers for VIP membership? Not to disparage Adam whom we do hold in high regard, but if this individual's bank intel is valid ....? Comments please, especially Adam as it affects the VIP Certificate! Rasent2, a loyal lurker!
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