Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
Sign in to follow this  
thehotdogguy

50Dinar

Recommended Posts

I can of course only speak for myself even if I do have a sneaky suspicion that MANY here would like to hear Adam's point of view on the whole 50 note ordeal...

 

Come on Adam, give it to us!

Share this post


Link to post
Share on other sites

Could someone fill me in on what the 50 note ordeal is? I thought they stopped printing the 50 notes when the coins came out? I know people still sell them but I didn't think anymore were being printed. Is there talk of issuing a new 50 note or some controversy regarding the 50 notes?

Share this post


Link to post
Share on other sites

Here is guys.!!

Hey everyone!

·

Just doing a quick driveby like I mentioned in the weekly chat... sorry it's taken so long to get to, I was waiting for confirmation on a couple things I'm hearing.

·

Confirmation never came, so I'm not going to get too detailed. But I will at least share what I'm hearing.

·

As you probably read, two pretty significant things were announced this week.

· Adam Montana

1. Iraq acquired ANOTHER boatload of Gold, I think it was 36 TONS. This is important IMO because I've always held the belief that while Iraq is running their currency on a fiat system, they have a pressing need to show that they have assets to back their value before they can RV.

·

Obviously OIL is huge, but when you're sitting on an impressive pile of gold, that just adds to your credibility.

· Adam Montana

2. The CBI announced that they are pulling the 50's from the market, and replacing them with other denominations. This part will take a minute to explain, so hang tight with me here.

·

First, if you've got a bunch of these small denoms - I have heard mention that there's a few dealers willing to exchange them for other denoms OR USD for a minimal charge, so I would just do that. What we're being told is that after April 30, the current 50's will not be honored.

·

That's the immediate effect on us. The more important thing to realize is this is very likely a test run on exchanging large quantities of notes.

·

I've always maintained the opinion that we should get at least 90 days, perhaps as much as 2 years, to exchange. that would give us time to make decisions, based on the floating/changing exchange rate, about how we wanted to exchange. I'll be completely blunt - I never expected to get 2 years, but I acknowledge that it's a possibility.

·

Well, with this announcement... this might be our first clue that we won't even get 90 days... we'll get about 45 days.

· Adam Montana

Not that it's a horrible thing by any means!

· Adam Montana

I'm hearing that instead of a huge RV with a lot of time to exchange, there will be a smaller RV (.01 to .30), a very short cash in window (~45 days), and then a float... so what we MIGHT get to do is simply exchange for the new notes, then ride the value up before we convert to USD or whatever other currency we choose to keep our liquid cash in.

· Adam Montana

Personally, I don't keep a lot of liquid cash - I'd rather have it in investments, and that's a huge part of what I'm angling my Post RV VIP activities around. Why keep cash that loses value, when you can stick it in an investment and gain? Sorry, I'm digressing...

·

Anyway - the news is kind of speaking for itself right now. The CBI is not sitting idle, they are moving. All the news we see coming out concerning the IQD shows us that they are serious about raising the value.

· Adam Montana

At this time, that's all we have... so I'll step off the podium and wish everyone a fantastic weekend. :tiphat:

Read more: http://dinarvets.com/forums/index.php?/topic/198092-adam-montana-drivebyfollow-up-feb-28-2015/#ixzz3TIgWu3Bk

  • Upvote 2

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.