Currency Exchange

[Dutch Boy]

Quick question. According to the current Euro rate from an exchange site:

1 EUR = 1428.701 IQD

The EUR IQD currency rate as of 10 Sep 2010 at 3:01 PM.

(Since this rate is fairly common, I didn't bother posting the link.)

The euro is growing against the dollar recently. Would it not be a good idea to put some of my IQD into Euro first and then increase my otential earnings by buying USD with the Euro?

[dflake]

I really can't answer to that, but my concern would be how many taxes i would have to pay.

[Doc31]

The euro is growing against the dollar recently. Would it not be a good idea to put some of my IQD into Euro first and then increase my potential earnings by buying USD with the Euro?

That depends on a couple of things

1) where does the IQD come out at

2) where do you think that the IQD is going to (do you want to hold, cash in/out, or do you want an account in IQD to be able to ride the increase)

3) where do you think the EUR is going (it was beaten down to $1.19 from $1.51 ... another question ... what about the PIIGS? ... France has intimated that they are in trouble ... I promise you Germany will not bail the French out the way that they did the Greeks ... IMO they will drop the EUR and go back to the Deutch Mark and the European Union will fold)

4) is Forex a better place for your speculation or do you have enough IQD that upon RI/RV you will be able to go to a Swiss, Singapore, Hong Kong, etc. bank that will allow you to open accounts in various currencies to ride a perceived upswing?

Your premise is correct ... if your assumption is right ... Forex leverage is from 200:1 to 400:1 depending upon your credit rating (compared to 20:1 and 40:1 in the stockmarket)

What you are suggesting is done all over the world virtually 24hrs/day on Forex ... there are winners and losers ... it's a net sum game. Make sure you are correct in your assumptions ... you will be swimming with the sharks.

I am not trying to dissuade you ... I will be exchanging/trading (both) currencies as well.

Peace

Doc31

Edited September 10, 2010 by Doc31

[Dutch Boy]

Thank you. I've always known there was money to be made in currency exchange, just never had the right vehicle. I believe the IQD is the one. As usual...lots to learn. Any and all information is appreciated. Aside from Christ, no topic is ALL positive.

I see the IQD as 2 Biblical truths: 1.) be wise as serpents and innocent as doves, and 2.) The wealth of the wicked is laid up for the righteous. I believe I must be a good and conscientious steward of the wealth I am receiving. This means a lot more education! So please, anyone out there with some insight, no matter how small, I am VERY teachable.

Thanks in advance!

That depends on a couple of things

1) where does the IQD come out at

2) where do you think that the IQD is going to (do you want to hold, cash in/out, or do you want an account in IQD to be able to ride the increase)

3) where do you think the EUR is going (it was beaten down to $1.19 from $1.51 ... another question ... what about the PIIGS? ... France has intimated that they are in trouble ... I promise you Germany will not bail the French out the way that they did the Greeks ... IMO they will drop the EUR and go back to the Deutch Mark and the European Union will fold)

4) is Forex a better place for your speculation or do you have enough IQD that upon RI/RV you will be able to go to a Swiss, Singapore, Hong Kong, etc. bank that will allow you to open accounts in various currencies to ride a perceived upswing?

Your premise is correct ... if your assumption is right ... Forex leverage is from 200:1 to 400:1 depending upon your credit rating (compared to 20:1 and 40:1 in the stockmarket)

What you are suggesting is done all over the world virtually 24hrs/day on Forex ... there are winners and losers ... it's a net sum game. Make sure you are correct in your assumptions ... you will be swimming with the sharks.

I am not trying to dissuade you ... I will be exchanging/trading (both) currencies as well.

Peace

Doc31

[disciple7]

Thank you. I've always known there was money to be made in currency exchange, just never had the right vehicle. I believe the IQD is the one. As usual...lots to learn. Any and all information is appreciated. Aside from Christ, no topic is ALL positive.

I see the IQD as 2 Biblical truths: 1.) be wise as serpents and innocent as doves, and 2.) The wealth of the wicked is laid up for the righteous. I believe I must be a good and conscientious steward of the wealth I am receiving. This means a lot more education! So please, anyone out there with some insight, no matter how small, I am VERY teachable.

Thanks in advance!

I second that!!