Forbes-Talk about Dinar

[readyrv]

I came across this article when it first posted, so I'll just post my original response from another site.

3 problems I see with this article:

1. It's a fixed exchange rate now, and not internationally traded. Central banks with fixed rates of exchange have the ability to revalue or devalue their currencies. Why would anyone pay more than the fixed market rate? So, the market argument is bogus.

2. His argument that the dealers, if they really thought it would revalue, would be hoarding dinar is ridiculous. I'm sure they've all got a nice little personal stash, but they have to make a living in the meantime, so they make money on a spread. That's the same argument we hear, all the time, about precious metal dealers. Sure, Goldline thinks gold will appreciate in the future, but it's a business, so they sell their gold at a spread, and Goldline continues as an ongoing concern.

If you think any product you sell is going to appreciate, why aren't you hoarding it, Brian Hancock, CFP?

3. Why did Forbes Magazine, a world renound financial publication, with contacts in literally every corner of the globe, have to go to little ole Birmingham, Alabama, to find some small time financial planner to call this a scam? I've lived in Birmingham my entire life, work in finance, and have never heard of Timberchase Financial. Couldn't they find someone at, say, Goldman Sachs, or the currency trading desk at JPM, or an economics professor at Princeton, or freakin' Paul Krugman, for that matter? Furthermore, why would they ask a financial planner? Those are the guys who sell insurance products and municipal bonds to old people and mutual funds to 40 hour a week employees.

My bank manager friend, who works in the ritziest part of town, tells me she's selling piles of the stuff to Birmingham's rich and famous. She's at least as good a souce as Brian Hancock.

ReVbo - What bank? I work at Red Mtn. and it's a quick trip to purchase more

Edited March 24, 2012 by readyrv

[ReVbo]

ReVbo - What bank? I work at Red Mtn. and it's a quick trip to purchase more

NBC

[quadkidd1]

Think about it ....Whats Forbes gunna do tell everyone to BUY BUY BUY..........

I DONT THINK SO

Quad

[jmw]

funny that people would rather believe some anonymous poster telling them they are going to be rich over night who is clearly profiting off of them than they would believe a respected Forbes reporter who has nothing to gain.

[Surgeon Of Notes]

Thanks ReVbo. I absolutely agree with you

[CO.5-0]

Thanks revbo, for a logical reply....I'm not selling mine and not buying anymore....why is it that any article or information that says anything at all about the dinar NOT RV-ing and everyone becoming overnight millionaires is bs and bogus lies??? I went into this remembering that anything that sounds too good to be true, probably is....the one thing I hold on to is there was a significantly greater accepted value to this currency before saddam and I would hope that it returns to THAT value....

[mungo]

Punters, the article was published 19 January 2012. This guy writes for a living. He has picked a topic that shows that the writer has done very little research on this particular subject. If you read into what he is saying, it is just an opinion. It is lacks facts to back his argument. It is a generalisation. He uses, like many of these word smiths, the popular words of government agencies and their likes, "victims" and "schemes."

Another little way that these cretins draw attention to their articles.

Lets look at the definition of victim/s:

1. One who is harmed or killed by another: a victim of a mugging.

2. A living creature slain and offered as a sacrifice during a religious rite.

3. One who is harmed by or made to suffer from an act, circumstance, agency, or condition: victims of war.

4. A person who suffers injury, loss, or death as a result of a voluntary undertaking: You are a victim of your own scheming.

5. A person who is tricked, swindled, or taken advantage of: the victim of a cruel hoax.

We could assume the writer means points 3, 4 & 5.

I haven't counted myself a victim yet because the event has yet to yield a result.

Let's look at the meaning of the word scheme.

1. A systematic plan of action: "Did you ever carry out your scheme of writing a series of sonnets embodying all the great epochs of art?" (Edith Wharton).

2. A secret or devious plan; a plot.

3. An orderly combination of related parts: an irrigation scheme with dams, reservoirs, and channels.

4. A chart, diagram, or outline of a system or object.

I think our writer refers to point 2. I suppose you would have to include a government superannuation scheme in amongst what the writer was insinuating. I know in Australia, millions of workers like myself, were victims of superannuation schemes that lost investors millions of dollars.

But in this case, if the average punter bought about a million dinar, and the r/v was never to occur then he or she has only lost around a $1,000. And then not a big time loser. Not like the $50,000 to S100,000 plus on average that was lost on government backed and pushed superannuation "schemes" in Australia. Even if the r/v occurred and it paid only 1c then you made about $9000 on a $1000 outlay. Better than SFA. Can you see Iraq r/ving at 1c? Never.

We are talking about a very small outlay that could bring in a big return. My wife has spent over $40,000 dollars on Australian lotto over the past 32 years. Her return has been less than $2500 total over that time.

Is she a victim of a government approved scheme called lotto?

As for John Wasik.....bet you he's got a few dinar tucked away some where in a little coffee tin buried under the dog kennel.

This thing will r/v eventually. Its just like stocks...they take a little time to reach their true value. Goodnight .