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Where's the money going to come from???/


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2 hours ago, rockfl9 said:

I think a lot of Dinarians think that they actually INVESTED in Iraq by buying IQD and Iraq OWES them a profit. Actually they caused harm to the Iraqi economy. The dinar held in shoeboxes etc. outside of Iraq messed up the banking system. They can't go International without taking the risk that all that IQD will flood back in causing an oversupply ( i.e. a deflation ) that they dont need.  WHY would they want to buy any back???  A carefully managed redenomination is needed but they cant afford it now, .It would be a scramble to get your IQD back to Iraq. It would be a great risk for a bank or dealer to get involved.  

They took USDs for dinar.  We helped build their foreign reserves. Shabs was brilliant Sell dinar for USDs knowing most would never make it back into Iraq. Easy enough to convince people to buy it. 

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Currency exchanges are an even money deal.  One traders gain is another's LOSS. SO WHO will buy a dinar for a dollar?  Banks don't buy and hold foreign currencies , They broker it for third parties. T

Ohhh I left out a re-occurring role the Rockford files. And yes my friend stranger things have happened.......a peanut farmer, & a community organizer just to name a few. Hope u had a great T

Don't laugh my friend, crazier things have happened.  Now, I'm not sticking up for Rock, but, seriously?!  Billionaire Real Estate Flipper......Beauty Queen maker.......Reality T.V. extraordinaire....

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On 8/21/2020 at 6:11 PM, SocalDinar said:

They took USDs for dinar.  We helped build their foreign reserves. Shabs was brilliant Sell dinar for USDs knowing most would never make it back into Iraq. Easy enough to convince people to buy it. 

No! Dinarians PAID for IQD with their local currency . Mostly to dealers who made a good profit. It was not an investment in Iraq. 

The dinar taken out of the IRQA ECONOMY AND held in shoeboxes caused the CBI to print more than would have been normally required it was an added expense. 

Not a investment in the country. They would be better off if it stayed in Iraq.

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Nah.. They received USDs or wherever it was bought from's currency for nothing more than  paper  . . A US $100.00 note costs about 20 cents to prin tSo im guessing here a 25,000 dinar note is close to the same.  40 notes at 20 cents costs them $8.00.  In return they got over $800.00 USDs  Shabs played on this  knowing his currency would never make it back into Iraq. If they redenominate they will have made up the cost to print a new currency times 100.  

 

Of course its not an investment in Iraq. Never was. Holding any money including that jar of coins everyone has is a loss every day because of inflation. Something that cost $1000 in 2010 now costs $1,188.. Thats about 18% loss . I keep about 6 months expenses in Cash. And thats just for emergencies.  Rather make money with my money than throw it away to the Feds inflationary Tax.   People get upset at the 1%ers when the real villain is the Federal reserve. Worlds biggest Ponzi scheme. Nixon was a fool.

 

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On 8/27/2020 at 7:27 PM, SocalDinar said:

 

 

Of course its not an investment in Iraq. Never was. Holding any money including that jar of coins everyone has is a loss every day b

 

Right ! It is a high risk ?? speculation based on a well fabricated rumor ( lie )  that the cbi has a plan to increase the value , overnight with a giant increase .... there is no guarantee of a profit OR that they may never get any money back.

Iraq is broke or going there fast.  We must wait for the settlement of salaries for the rest of the year to see what they can do.  

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1 hour ago, rockfl9 said:

Right ! It is a high risk ?? speculation based on a well fabricated rumor ( lie )  that the cbi has a plan to increase the value , overnight with a giant increase .... there is no guarantee of a profit OR that they may never get any money back.

Iraq is broke or going there fast.  We must wait for the settlement of salaries for the rest of the year to see what they can do.  

Don't have to tell me that. I had 20 million dinar at one time.. Now i have one 25,000 dinar note just to remind me when something seems to good to be true it probably is

 

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The quote by someone that US banks will buy dinar and get USD from the US Treasury is totally false and shows a lack of understanding of the US financial system.  The Treasury and the FED only use dollars. 

Also banks dont buy foreign currency ,,,, they broker it .   But they dont even have to do that if they dont want to.  It is optional.

Iraq is having a hard time getting enough dinar to pay salaries. Even in Iraq the GOI must give up USD to buy dinar and they dont have enough dollars to do so.  They will resort to print more notes without any reserve backing .  What Sadam did to debase the dinar in the first place. Maybe even print a bogus 100K note .

Their backs are against the wall and that may be the only way to keep the economy from total failure.  

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On 9/29/2020 at 3:55 AM, rockfl9 said:

 

Also banks dont buy foreign currency 

 

if the us banks don't buy foreign currency, then where do the dinar investors exchange  dinar for dollars? do the dinar investors have to exchange dinar for dollars outside us, like canada may be?

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On 10/12/2020 at 4:26 AM, rvmydinar said:

if the us banks don't buy foreign currency, then where do the dinar investors exchange  dinar for dollars? do the dinar investors have to exchange dinar for dollars outside us, like canada may be?

 

Banks exchange foreign currency all day every day... If the Dinar goes international then it too will be exchangeable. 

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Banks do not ever really OWN a foreign currency. They broker it with a third party. Here's thecatch. If the bank has an agreement with an agent, that agent is the one making the purchase and bank performs a service of counting packing and sending it to the agent .. In most cases you wil not be paid until it is received and cleared by the agent.

US banks only have counting machines for dollars and few have people that could validate dinar on sight. 

 

 

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7 hours ago, rockfl9 said:

Banks do not ever really OWN a foreign currency. They broker it with a third party. Here's thecatch. If the bank has an agreement with an agent, that agent is the one making the purchase and bank performs a service of counting packing and sending it to the agent .. In most cases you wil not be paid until it is received and cleared by the agent.

US banks only have counting machines for dollars and few have people that could validate dinar on sight. 

 

 

I like to buy ( exchange ) $100 worth of half dollars every week at the bank

I Usually get at least one  pre 64 half dollar . I then exchange the  rest for Amazon credits at the coin star machines .no charge if you take the Amazon Card.  100% of the value

 

My bank seems to go through employees frequently so it’s always a fresh face ( with a chin diaper ) 

Mostly Hispanic tellers. 
 

Anyone remember Great Western Bank ? Dennis Weaver  ( dual) was their spokesman. 
 

Have not used an ATM for at least 20 years .  Never really saw the need.

Dad taught me to always have a coffee can Full of cash . Also said that’s your cash and don’t tell anyone about it. Ironic I’m on an online forum 

talking about it.

 

And since we are talking bank and bank policies I wish my bank had better parking . Always full but no one in the bank ..., what gives ?

 

 

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On 10/13/2020 at 10:11 PM, SocalDinar said:

I like to buy ( exchange ) $100 worth of half dollars every week at the bank

I Usually get at least one  pre 64 half dollar . I then exchange the  rest for Amazon credits at the coin star machines .no charge if you take the Amazon Card.  100% of the value

 

 

Hi SD,  I havent seen a silver coin in 15 years...I know back then people were buying bags of unsorted coins and finding silver . But I dont think that is profitable any more.

Mine is stored in a pickle jar.

 

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1 hour ago, rockfl9 said:

Hi SD,  I havent seen a silver coin in 15 years...I know back then people were buying bags of unsorted coins and finding silver . But I dont think that is profitable any more.

Mine is stored in a pickle jar.

 

I do still find silver coins in old parks metal detecting. Gotta dig deep.  When i find old sprinkler heads 4" down i know there could be some silver at that level or even deeper.  I do find decent amounts of jewelry first super low tide after the first large winter storm.  Best finds are at the county beaches where the homies wear the bling

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