Is the dinar speculator the 800 pound gorilla in the room

[ewingm]

Okay, here's a scenario.  The big 1 to 1 RV is  announced tonight.  Markinsa wakes up and finds his 10 million dinar in his safe is now worth (according to iraq)  10 million dollars.  Just what do you actually think you're gonna be able to do?  Walk down to your local WF bank in the morning and hand them 10 million dinar and expect them to credit you checking account with $10 MILLION dollars?  Do you really believe that?

[Markinsa]

Okay, here's a scenario.  The big 1 to 1 RV is  announced tonight.  Markinsa wakes up and finds his 10 million dinar in his safe is now worth (according to iraq)  10 million dollars.  Just what do you actually think you're gonna be able to do?  Walk down to your local WF bank in the morning and hand them 10 million dinar and expect them to credit you checking account with $10 MILLION dollars?  Do you really believe that?

 

Sure, you see a problem with that?   But I'm not going to cash in all 100 Million, you gotta wait for it to hit the final 3:1 rate.

 

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[ewingm]

I'm sorry Markinsa, but your bank is not going to honor your exchange request for quite some time, if ever.   First, iraq's announcement would have to be evaluated by the IMF, WFO, the US Treasury Dept. before any such exchange would be honored.  A suitcase full of a third world's physical currency would be viewed with EXTREME skeptism by bank officials.  It might even be seen as something illegal.  Just determining that the bills were not counterfeit would be an issue.  Because nothing like this has ever happened before, so there is no president for proper procedure.  We're not talking about exchanging a few thousand dollars for vacation money.  We're talking MILLIONs of dollars per speculator walking in their door.  Do you not see where this would sound banking and Treasury alarm bells.

[Markinsa]

I'm sorry Markinsa, but your bank is not going to honor your exchange request for quite some time, if ever.   First, iraq's announcement would have to be evaluated by the IMF, WFO, the US Treasury Dept. before any such exchange would be honored.  A suitcase full of a third world's physical currency would be viewed with EXTREME skeptism by bank officials.  It might even be seen as something illegal.  Just determining that the bills were not counterfeit would be an issue.  Because nothing like this has ever happened before, so there is no president for proper procedure.  We're not talking about exchanging a few thousand dollars for vacation money.  We're talking MILLIONs of dollars per speculator walking in their door.  Do you not see where this would sound banking and Treasury alarm bells.

 

Where are you getting your information??  It sounds to me like you're pulling it out of your backside. What you just stated is all in your head on how you perceive things will play out.  It has nothing to do with the Facts and reality of the situation at hand.  Please, please, provide some sources to your ramblings.

 

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[new york kevin]

Like usual you are configuratng value of dinar combined with Iraqs assets with note count.

[Shabibilicious]

I have listened to many people's opinions about how much dinar there is out of iraq's sovereign borders.  I realize that we will never actually know this for a certainty, but here is my premise.  I personally Know how much dinar is being held in my family's circle of friends.  I have actually helped count it in several situations.  I do not believe that my little piece of America is grossly different than any other part of America.  We certainly don't have a lock on the "buy dinar scam" .  Here's the facts.  Social Dinar said he knew some one who held five million dinar, but that was rare.  He said most people he knew held one million dinar or less.  In my circle of aquaintances, I know one lady who has 100 million dinar.  My personal family members hold approx. 150 million dinar.  The rest of their church is good for another 50 million or so.  That makes close to 300 million dinar held by one small church in one small town in one state in the US.  If we extrapolate that figure worldwide, it is quite easy to see that out of country speculators may hold 30-35 Trillion dinar.  They ALL want to cash in simultaneously if a big RV was announced.  The CBI is aware of this enormous number of dinar overseas.  Regardless of all other economic factors, the "speculator" is the 800 poumd gorilla in the room.  What do you think?

 

Why did you all feel the need to count it several times?.......Is there some mistrust among the family ranks?    

 

GO RV, and NO BV 

[rockfl9]

I'm sorry Markinsa, but your bank is not going to honor your exchange request for quite some time, if ever.   First, iraq's announcement would have to be evaluated by the IMF, WFO, the US Treasury Dept. before any such exchange would be honored.  A suitcase full of a third world's physical currency would be viewed with EXTREME skeptism by bank officials.  It might even be seen as something illegal.  Just determining that the bills were not counterfeit would be an issue.  Because nothing like this has ever happened before, so there is no president for proper procedure.  We're not talking about exchanging a few thousand dollars for vacation money.  We're talking MILLIONs of dollars per speculator walking in their door.  Do you not see where this would sound banking and Treasury alarm bells.

In my early days (60s % 70s) I sold machines and software to local banks. By law, banks must balance the books , in dollars, each day to within less than one percent or they cannot open for business the next day. So there must be a BUYER ,in dollars, with an established value and a transfer for your dinar before the bank will credit your account. Here I must add I would have a chuckle over the advice " Don't let your dinar out of sight when you cash-in". A bank wont even look at your dinar unless they have an established buyer PERIOD. AND they must have the dinar , in hand , to transfer.

[ewingm]

People first heard about the undervalued iraqi dinar from friends, who told them how to buy it through an internet website, and that it would RV any day ( back in 2008).  And they told them that if you held the currency  when the RV was announced, you could just walk into your local bank and exchange dinars for dollars.  It sounds pretty simple on face value.  But the actual TRUTH of banking laws and international financial procedures is that it is anything but simple.  In fact, it is virtually IMPOSSIBLE.  But the dinarian community was more interested in the giddy fun of setting up off-shore accounts to hide the windfall from the US gov't.  They allowed themselves to be lead down the primrose lane by Gurus( professional liars), through a series of rabbitholes such as 800 numbers, hedge-buying, going to Beleize

[Markinsa]

[caz1104]

Rock/Paper/Scissors,

 

 

Not true. My banker is also a close friend (golfing buddy) and own quite a bit of Dinar. He say's once it becomes exchangeable worldwide, it will be a straight exchange of currency just like any other that are done daily.

 

Ewingnut,

 

Why would you count worthless TP not once but multiple times? If its TP its TP no matter how much one posses.

 

This Monday morning currency experts(LOPsters) is laughable at best. Why is it that you guys think you have all the answers in the world of currency speculation................and if so..............why are you here..........seems with all that knowledge you would leverage it into making money. Oh that's right you just want to be saviors............LOL

Edited November 10, 2014 by caz1104

[ewingm]

Caz, having an opposite opinion of this thing from you does not make me a "savior".  Why are you so defensive about these debate points.  You act as though anything that might intrude into your dream bubble must be viewed as aa threat, and there for dealt with by derision and sarcasm.  First off, Caz, the iraqi dinar is NOT a tradeable currency.  Therefore your golf buddy banker will NOT take your dinars for dollars if an RV was announced tonight.  The iraq dinar is considered an "exotic" currency much like the Viet toiletpaper, and will not be on Forex for a long time. Certainly not until ALL the geopolitical strife is settled.  Nobody trusts the iraqis to get their act together, and so no one is willing to embrace them into the international currency market.  If all your hopes of getting paid is hinged on the dinar becoming TRADEABLE, then you have a long hard depressing road ahead of you.

[caz1104]

Ewingnut,

 

Once it becomes internationally tradeable...................one can go to the bank of their choosing and exchange it...............just like any foreign currency one holds today. There will not be any NEW rules just for DINAR in regards to exchange. Now it may not be physical exchange for it might be electronic but who cares?

Ewingnut,

 

key word "once" it becomes tradeable. I can't speak for others but I will take my bankers currency knowledge over you a cartoon character any day.

 

"savoir" is your word...............or have you forgot about your "mythical" family you say your here to protect.

Ewingnut,

 

Why didn't you answer the question about counting your "mythical" families dinar not once but multiple times..............why would you count TP. Charmin needs counters to make sure they have the correct sheets on each roll..............can I give them your name for possible employment?

[SocalDinar]

Rock/Paper/Scissors,

 

 

Not true. My banker is also a close friend (golfing buddy) and own quite a bit of Dinar. He say's once it becomes exchangeable worldwide, it will be a straight exchange of currency just like any other that are done daily.

 

Ewingnut,

 

Why would you count worthless TP not once but multiple times? If its TP its TP no matter how much one posses.

 

This Monday morning currency experts(LOPsters) is laughable at best. Why is it that you guys think you have all the answers in the world of currency speculation................and if so..............why are you here..........seems with all that knowledge you would leverage it into making money. Oh that's right you just want to be saviors............LOL

I have a very close family friend that was a VP for citibank some years ago. She was actually in the World trade center when the bomb went off in the parking structure.

 

She has 1/4 million dinar. She has had them for over 7 years.  I asked her some banking questions once  and she said honestly that know one really knows how world markets and and world banking systems work. To many variables to deal with. Its like how can 100 different people outside the US own the a piece of the note on your house???

 

Point blank a couple of years ago I  asked her once what she thought of the dinar.  She said that she thought it would gain value eventually if the country did not split apart.  Did she think it would increase 100,000 % Heck no. But she did believe that it would be a good return.

[caz1104]

SD,

 

I agree opinions are like............. everyone has one. But for some to suggest something will never happen is just flat out scare tactics. My banker has a different view that I stated above.....................he is a friend so I don't do ANY financial transactions other than deposits/withdraws  with him..............personal choice. But I do trust his opinions more than I would anyone here............again my choice.

Edited November 10, 2014 by caz1104

[SocalDinar]

So true Caz.    Thanks!

 

I don't believe all the hype anymore but still think we will make some money off this.

[caz1104]

SD,

 

Very seldom do investments/speculations turn out as advertised..........at least the ones I'm aware of-lol. Some have actually turned out better...........but for the most part..........not. Ain't nuthin a sure bet-LOL

[ewingm]

So, you boys are SLOWLY coming around to my point of view.  Congratulations.  It only took seven years of no profit, with the grim specter of losing ALL of your money to bring you to this place of reality.  Good for you, Caz.  Of course as a long-time dinar pumper, you won't be very popular with the koolaide krew upstairs, but at least you've returned to planet Earth.  The dinar is NOT tradeable.  It is not even talked about being tradeable, therefore your banker buddy ( I love banker stories) will laugh at not only your golf score, but your suitcase full of pretty wallpaper if you ever bring it in.  You know that just declaring an RV, like Saddam did back in 1999, doesn't mean duck squat.  The WORLD has to acknowledge and ACCEPT the exchange amount.  I can't wait to see your bankers face when you walk in and say, " Hey Joe, these dinars are now worh $3, cuz ISIS says they are".  I am still rolling on the ground laughing over that scenario.

Edited November 10, 2014 by ewingm

[Shabibilicious]

Your reading comprehension skills are waning again.     Shouldn't you be checking on some other investment your not invested in?    

 

GO RV, and NO BV

[rockfl9]

I have a very close family friend that was a VP for citibank some years ago. She was actually in the World trade center when the bomb went off in the parking structure.

 

She has 1/4 million dinar. She has had them for over 7 years.  I asked her some banking questions once  and she said honestly that know one really knows how world markets and and world banking systems work. To many variables to deal with. Its like how can 100 different people outside the US own the a piece of the note on your house???

 

Point blank a couple of years ago I  asked her once what she thought of the dinar.  She said that she thought it would gain value eventually if the country did not split apart.  Did she think it would increase 100,000 % Heck no. But she did believe that it would be a good return.

SD : The people who DO international banking KNOW the systems and how they work. They are specialists in the business of buying and selling financial instruments across differing currencies. US commercial bankers that only need to handle dollars don't concern themselves with that part of banking. Why would they spent any time trying to understand systems they will never use!

There are several good books on the subject. One I have "The Money Market" is a collection of papers by experts in all phases of domestic and international banking. So it is understandable knew little about currency exchanges.

[caz1104]

Shabs,

 

 

LOL.............It's like almost everything else for Ewingnut................selective reading/comprehending in this case. He also feels HE doesn't need to answer others questions but complains when others don't answer his.....................there goes that "selective" part again. I'm getting more & more convinced he's from our "entitlement" portion of society.

[Shabibilicious]

Hahaha......his opinions are his opinions......and his opinions should be our opinions.    

 

GO RV, and NO BV

[caz1104]

Books-did you know there are thousands of self help books with differing opinions from "experts" on almost all subjects. Example: Go to your local Barnes & Nobles and see how many books there are from "experts" on the correct way to raise your child. So to hear a LOPster talk about folks (bankers) he doesn't know or what of their knowledge or expertise, is laughable. Hmmmmmmmmmmmmm  interesting differing opinions on almost any subject............how can that be..............LOPsters preach there is only ONE possible outcome.

Edited November 10, 2014 by caz1104

[rockfl9]

Caz? Have you ventured outside dinar wed sites to get educated on currencies?

As I said before I am not a lopster , I think it is not going anywhere in the next 2 years at best ,so you wont make any money.

However I am open to other possibilities.

It could LOP. You wont make money.

It could RV to a SOLID tenth of a cent . You wont make any money. But it makes the math easier.

They could move the rate to 1300+ in an attempt to balance the 2015 budget. You will loose money BUT only if you sell.

SEE. I am thinking outside of the TANK.

[caz1104]

LOL..................yeah sure ya are.

[SocalDinar]

So, you boys are SLOWLY coming around to my point of view.  Congratulations.  It only took seven years of no profit, with the grim specter of losing ALL of your money to bring you to this place of reality.  Good for you, Caz.  Of course as a long-time dinar pumper, you won't be very popular with the koolaide krew upstairs, but at least you've returned to planet Earth.  The dinar is NOT tradeable.  It is not even talked about being tradeable, therefore your banker buddy ( I love banker stories) will laugh at not only your golf score, but your suitcase full of pretty wallpaper if you ever bring it in.  You know that just declaring an RV, like Saddam did back in 1999, doesn't mean duck squat.  The WORLD has to acknowledge and ACCEPT the exchange amount.  I can't wait to see your bankers face when you walk in and say, " Hey Joe, these dinars are now worh $3, cuz ISIS says they are".  I am still rolling on the ground laughing over that scenario.

Not sure about Caz but you surely did not change my mind Jerry,  I have never thought deleting the zeroes was a good thing. Never!  Like I said in my opinion this is not much difference than a weekend in Vegas.  It's a gamble and it always has been. Lifes a gamble. Some have a problem with gambling and it sounds like your family may. I know no one that bouyght dinar like your family and I know quite a few with dinar. And Lopsters have always been around since day one so don't give yourself too much credit for changing anyones mind. Deep down most know  this is a long shot for sure but they are learning and educating themselves and thats worth something.

 

 

I have learned alot here and actually got some sound advice from Guru Tony Breitling. He spent a whole show answering my question regarding a product i invented and how to market it.  I followed his advice and now my product is in every CampingWorld store nationwide and many other online retailers.  Guru or no Guru he helped me and I learned from this. I have put to practice some of what i have learned here with My other business ( Electrical contractor)  So It has already paid off .

 

I have recently made some good money off the dinar selling some of my lower denoms. Almost 75 % profit.   I needed some cash for another new venture i was getting into. I bought a 20 acre placer gold claim and equipment. I have had more people call me crazy with that than I ever did buying legal currency from Iraq.  Afterall only 1 in 1000 searching for gold finds it. Guess what?  I found gold.  Not alot  but close to 1/2 an ounce to date, but just like anything else in life its a gamble. I have made some new contacts with this and have an internet Gold Guru  ( Jeff Williams ) coming to my claim to film a video . Also met the owner of a large  manufacture of Gold mining equipment and doing some electrical work for them. So I guess its already panned out ( no pun intended. )

 

I was out cleaning my gold mining equip last week and a gentleman stopped and asked about it. We chatted a bit and he said how he always wanted to have some adventure in his life, so I offered him to come along. He never did but He noticed I was an electrician at the time. We talked and hit it off pretty good. Well  he just came back by about an hour ago and asked for a business card. ( drove by on his luch break hoping to find me )  Turns out he is an executive with  SPACE X.  Their existing contractors are getting a bit greedy and they need some fresh blood in their plant and asked if I was interested. Heck Ya! 

 

All of this would not have happened if it was not for the dinar so my point is you never know what will happen in life.

 

You can't win if you don't try.  

 

Have  you ever tryed Jerry?   Or are you content with living off SS till the day you die? 

 

Get out there and have some adventure, learn to Scuba Dive,  Get on a dirt bike and ride, Travel the world with a backpack.  Live Jerry Live. 

 

Spend your money!! Its ok You earned it and its yours!!  not your kids.

 

 

And Rock I have worked around suits my whole life and most ( not all ) but most have no common since. They do not really know what they are doing.

I get the last laugh as i barely graduated High school yet I make way more money than most of them, but they do dress better than me.