Speculator buying up privately held dinar

[Rasent2]

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!

[caz1104]

I would like a name & phone number......................then I would book a flight to Texas!!!!!!  LOL

[EagleEye]

scam scam scam...run do not walk to the nearest exit !!!

[The Machine]

I can smell it from here

 

[Jim1cor13]

Be very careful with this, it is fraud.

[olivesman]

WOW! You call some piece of paper "a bird in the hand"?!?!

If you bite, I have some ocean front property to sell you in Arizonz!

[four wheel drift]

We have a couple Texas guys here, take back up and check it out.

LOL

FWD

Luigi did you change your log in

Lol

[Texstorm]

Y'all just send me all of your dinar and I'll handle it for you , for a fee of course! LOL.......What a joke !

[caz1104]

I just called.............got a recording saying...................SUCKER!!!!!!  LOL

[pocono]

Shades of Nortec...this speculator wouldn't happen to be a Mormon?

Ah,the good old days of SKR'S and NDA'S.

[moose 57]

There can't be anybody foolish enough to fall for this, can there?

Edited September 10, 2015 by moose 57

[caz1104]

Sadly...........................yes

[Freedomwish]

Ummm......wow. 

[fishing]

That junk should not even be allow to be posted!

[DinarThug]

I would like a name & phone number......

Just Ask For Nadita ...

[nannab]

LOL Thug! I remember her a lot of us thought very highly of her

for a while. Until that first I got this guy who and you know the

rest. Sad really she missed out on meeting a lot of strangers

who are friends that we just haven't meet yet.

[gymrat76541]

Seriously?

 

Almost as funny as my friend who is in a group of VIP dinar holders in Dallas, Texas who gathered all their dinar together last year & supposable sent it via armored car to Reno. He is still believing the BS that they are waiting for a "special" deal at a higher exchange rate to be approved. 

 

I think his dinar is longggggg gone! Sad because he is just an ordinary working guy who was just trying to get ahead. :(

[dinarmite]

Besides how does he know the tax rate and why would you give him all your personal information to file it for you?

[SnowGlobe7]

Just Ask For Nadita ...

:D

[Texas1]

Why would jackass, instead of paying $2, just buy it for an 8th of a penny from dinarinc or one of the other online sellers or from folks on Craigslist.......

Why? Because its a bunch of bs.....duhhhhh

[DinarAvatar]

This is such an obvious scam that I can't believe anyone would fall for it.  First of all, why would a "billionaire" spend $2 per dinar when it is such a simple thing to get 1,000,000 dinar for $1000?  He would have be one of the most financially stupid billionaires ever!

 

What is going on is that he will make this offer take the dinar then not pay them.  He will wait for the rv.  When the court forces him to pay then he will pay whatever it costed the people to buy their dinar (about $1k/ 1 mill dinar).  He'll make out like a bandit -which he is.

Edited September 11, 2015 by DinarAvatar

[umbertino]

[Rasent2]

Appreciate the input from the more knowledgeable here.  The point of the post was to ask this august group their considered opinion on a legitimate question not to propagate a falsehood.  If we can't ask questions here and get reasoned responses, then this forum is useless.  For those whose opinions that this was a scam, thank you for you input.  That was my first reaction and your opinion seems to confirm it. 

[The Machine]

Appreciate the input from the more knowledgeable here. The point of the post was to ask this august group their considered opinion on a legitimate question not to propagate a falsehood. If we can't ask questions here and get reasoned responses, then this forum is useless. For those whose opinions that this was a scam, thank you for you input. That was my first reaction and your opinion seems to confirm it.

I don't think anyone thought you were trying to propagate a falsehood but it was so ridiculous (and the fact that we've heard stuff like this for years) that it didn't merit a serious response.

Sorry but ask a serious question and you'll get a serious answer.

[Rasent2]

Sorry to have wasted the time of the group.  I'm not fully conversant on what is a "serious" question and what is not.  I didn't "get the memo" defining the terms.  From the tenor of responses, I'm not certain what "serious" means here.  For those of us "new" in the game, everything is a learning experience.  This certainly was.