kamikaze1966 Posted June 20, 2011 Report Share Posted June 20, 2011 Im still confused about this frank dodd law.... I only have 500,000 dinar. So does this mean i cant exchange when the rv does hit..... Link to comment Share on other sites More sharing options...
easyrider Posted June 20, 2011 Report Share Posted June 20, 2011 (edited) nooooooooooooooooo. please calm down don't read much into it. You bought dinar before this law is going to be passed you will be able to exchange your foreign currency its a simple exchange that is all for USD. You are fine. If they don't honor your currency well they will get a class action lawsuit that will turn very nastybetter believe that they don't want that from investors that have put their money into Iraq and have kep CBI auctions going for years and then to stiff us knowing Bush signed the presidential order what i have got the jist from the law is that it pertains to precious metals and hedge funds not actual foreign currency being exchanged. Edited June 20, 2011 by easyrider 1 1 Link to comment Share on other sites More sharing options...
TennesseeCherokee Posted June 20, 2011 Report Share Posted June 20, 2011 (edited) Totally agree..This Dodd/Frank law is quite simple. It was designed to prohibit stock traders from over-extending themselves on precious metals futures. It requires them to have the hard cash currency to back-up , essentially providing collateral, for their trades. Edited June 20, 2011 by TennesseeCherokee 1 Link to comment Share on other sites More sharing options...
simon8957 Posted June 20, 2011 Report Share Posted June 20, 2011 Thanks Easy....Now it makes since!!!!!!! Link to comment Share on other sites More sharing options...
Kimberlye Posted June 21, 2011 Report Share Posted June 21, 2011 Thank you Kamikaze for the post and thank you all for the responses. To be honest, I was a little worried about it as well. Feeling much better. Have a great evening all, Kimberlye Link to comment Share on other sites More sharing options...
Benelli Posted June 21, 2011 Report Share Posted June 21, 2011 Forgive my ignorance, but will there be problems for those that plan on cashing in more than 10 or 20 million dinar? Would that make a person a "qualified eligible participant"? If so, what avenues do those people have? Link to comment Share on other sites More sharing options...
Adam Montana Posted June 21, 2011 Report Share Posted June 21, 2011 Short answer: We don't have to worry about it, regardless of how much dinar you have. Buying dinar AFTER the RV might get tricky, but we have nothing to worry about at this time or when we go to cash in. Link to comment Share on other sites More sharing options...
Benelli Posted June 21, 2011 Report Share Posted June 21, 2011 Thank you for helping me sleep better. I appreciate your response, Adam. Link to comment Share on other sites More sharing options...
gregp Posted June 21, 2011 Report Share Posted June 21, 2011 Short answer: We don't have to worry about it, regardless of how much dinar you have. Buying dinar AFTER the RV might get tricky, but we have nothing to worry about at this time or when we go to cash in. Thank you Adam. This really shook up the site today. Hope tomorrow we can get back to normal. See you at the bank! Link to comment Share on other sites More sharing options...
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