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Just sold another 1 million dinar


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As many here know, I have become an increasingly skeptical investor in the dinar. I bought based on a bunch of hype with very little information. As I learned more, and as every single prediction of an "imminent" or "any day now" RV turned out to be wrong I felt duped. I invested based on emotion and that is a bad thing. As I've learned more about this "investment", there are just way too many things that make absolutely no sense. The ridculous track record of all the date and rate speculators has only reinforced my skepticism.

This is my second sale. I sold another million dinar earlier this year. This time, I received $21 per 25K dinar note. I took about a 27% loss on the notes. That's pretty poor performance for an 8 month investment. I could have simply stuck them in a drawer and forgot about them in the unlikely event the RV occurred. But, as an investment, I made the decision that there is simply no further potential for return. Therefore, it makes sense to sell and try to take advantage of other opportunities. $840 US dollars is more valuable to me than 1 million dinar. At some point, I figure many people will come to the same conclusion that I have and the buy back rate will fall further as banks become deluged with dinar. I don't ever see the buy back rate being any higher than it is today.

I still have 1 million of my original 3 million dinar. I will probably sell them very soon but I haven't made a final decision. Maybe Okie or Blaino or the folks at PTR will offer to pay me twice as much as I paid for them. After all, if the dinar is going to revalue (even at $.10), as they have been so certain of for 8 months (probably longer, but that's the extent of my experience with them), what difference does it make if you pay $2,300 per million rather than $1,150? We're quibbling over chump change at that point aren't we? (Somehow, I don't think that offer will come my way.) I may just hand them out as gag gifts to family and friends. Regardless what I do with them, I will always keep one 25K note permanently posted on the bulletin board in my home office as a reminder of what happens when you ignore common sense, logic and history and invest based on emotion.

Good luck to everyone. Believe it or not, I still would be very excited if the dinar did RV. I know many people here desperately want it to RV. And since I will always have at least one 25K note, I suppose I would benefit still benefit financially if it did RV. I've always HOPED it would RV. But, I realize now it was nothing but hope. There is no basis to support it. I now believe Jack DeAngelis when he says the window for the RV closed long ago and it won't happen. He's one guy that has actually been right about the dinar. I think it's time for me to start listening to him.

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This is a well written (and well reasoned) piece. I'm still holding, but you are probably right about a pending inability to sell IQD for anything more than chump change as people bail out. Still, I'm of the put-it-in-the-drawer-and-forget-about-it mindset; although, I may sell my IQD that I have outside of my Roth IRA. We'll see ...

Of course it doesn't matter, but you should get ready for the onslaught of 'crazies' who will proclaim that we're "right there".

Nevertheless, good luck to you.

TS

I don't understand the reason for your post......ummmm, congratulations to you for selling another million and good luck in selling the last......

Turns out that there's little reason for any of the posts on this board. Who knew?

TS

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Good luck networth,

I understand where you are coming from but I am not going to sell. After the 31st of july they are going in a box in the closet if they haven't made it to the bank by then. I have things to do and its time to put my energy and time elsewhere. I will still checkiin just not daily like I am doing now. Probably monthly, hopefully.... :)

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I can understand your positioning and I guess in the end it's your personal choice. Me my self could not take a chance of selling my dinars with all the upside potential still looming. Also I'm glad you still kept some...Let's hope we see something soon..

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This is my second sale. I sold another million dinar earlier this year. This time, I received $21 per 25K dinar note. I took about a 27% loss on the notes. That's pretty poor performance for an 8 month investment. I could have simply stuck them in a drawer and forgot about them in the unlikely event the RV occurred. But, as an investment, I made the decision that there is simply no further potential for return. Therefore, it makes sense to sell and try to take advantage of other opportunities. $840 US dollars is more valuable to me than 1 million dinar. At some point, I figure many people will come to the same conclusion that I have and the buy back rate will fall further as banks become deluged with dinar. I don't ever see the buy back rate being any higher than it is today.

I'll never understand posts like this. You guys just don't understand investments. You whine and complain about a $3k investment like it's the end of the world. Get a friggin life man.

You better have a hundred times that amount invested by retirement age or you'll be working until your dead and on welfare. $3k in the big picture is just pocket change, one months pay!

Millions of people drop $3k everyday on TV's and home theater systems. It isn't really a large amount of money unless you are unemployed, and if you are unemployed you shouldn't be investing in exotic currency.

Read drox's post from another topic. It can't get any clearer than this. Please do sell your dinar and move on. I could have sold a million dinar on ebay for $35-$40 per 25k note and made a tidy profit.

http://dinarvets.com...post__p__559011

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As many here know, I have become an increasingly skeptical investor in the dinar. I bought based on a bunch of hype with very little information. As I learned more, and as every single prediction of an "imminent" or "any day now" RV turned out to be wrong I felt duped. I invested based on emotion and that is a bad thing. As I've learned more about this "investment", there are just way too many things that make absolutely no sense. The ridculous track record of all the date and rate speculators has only reinforced my skepticism.

This is my second sale. I sold another million dinar earlier this year. This time, I received $21 per 25K dinar note. I took about a 27% loss on the notes. That's pretty poor performance for an 8 month investment. I could have simply stuck them in a drawer and forgot about them in the unlikely event the RV occurred. But, as an investment, I made the decision that there is simply no further potential for return. Therefore, it makes sense to sell and try to take advantage of other opportunities. $840 US dollars is more valuable to me than 1 million dinar. At some point, I figure many people will come to the same conclusion that I have and the buy back rate will fall further as banks become deluged with dinar. I don't ever see the buy back rate being any higher than it is today.

I still have 1 million of my original 3 million dinar. I will probably sell them very soon but I haven't made a final decision. Maybe Okie or Blaino or the folks at PTR will offer to pay me twice as much as I paid for them. After all, if the dinar is going to revalue (even at $.10), as they have been so certain of for 8 months (probably longer, but that's the extent of my experience with them), what difference does it make if you pay $2,300 per million rather than $1,150? We're quibbling over chump change at that point aren't we? (Somehow, I don't think that offer will come my way.) I may just hand them out as gag gifts to family and friends. Regardless what I do with them, I will always keep one 25K note permanently posted on the bulletin board in my home office as a reminder of what happens when you ignore common sense, logic and history and invest based on emotion.

Good luck to everyone. Believe it or not, I still would be very excited if the dinar did RV. I know many people here desperately want it to RV. And since I will always have at least one 25K note, I suppose I would benefit still benefit financially if it did RV. I've always HOPED it would RV. But, I realize now it was nothing but hope. There is no basis to support it. I now believe Jack DeAngelis when he says the window for the RV closed long ago and it won't happen. He's one guy that has actually been right about the dinar. I think it's time for me to start listening to him.

Sorry but I agree with this. Maybe he will save other from making the same mistake. They are frauds and belong in jail. I didn't buy from their hype but I am guilty of of falling for it.

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I agree with one of the earlier posters, it is an investment and there is no guarantee of quick turn around. If you feel you need to sell and use the cash, then so be it, do what you have to. Additionally, if you want to get your mind filled with Jack DeAngelis' whiney cynical rhetoric, go for it, the dude changes his opinion with things as often as the wind changes direction. The dinar investment's not for everyone, it is a new government and it may take a lot of time before they revalue their currency, bail if you need to.

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I understand your frustration and discouragement networth.

Especially listening to some of the self proclaimed gurus will cause you to lose hope with all the claims and missed dates.

I advise you to stick your remaining dinar in the safe deposit box (or shoe box) for 1 year and forget about them. Don't listen to anymore speculation on the dinar and abandon the dinar related forums for now. It is very stressful and disheartening to be disappointed again and again.

But wouldn't you hate it if you baled out a bit too soon?

Truth is that there has been a lot of progress in Iraq the last 1-2 years and especially of recent. The wheels are moving even if they are moving slowly. (Guess what it is a third world country)

What have you got to lose? but maybe a lot to gain.

When the RV did not occur 6-30-11 as so many predicted I went out and bought more. I am basing my projections on solid evidence of progress and incredible natural resources in the country. For those of you who got swept up in the hype, it could have just been dumb luck that got you into something that has tremendous potential, just that it may not happen as quickly as you were led to believe. Hang in a bit longer. The payoff potential is very good for the $.

If this whole thing doesn't wrap up in another couple of years then we can all get together and have a dinar bonfire and talk about the lessons we learned. Or I will buy your dinar at fair market value. I'm giving it at least 2 more years.

Best of wishes to you my friend

GP

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People who sell their dinar are pathetic... you say you can do so much more with $850 usd? Okay... you can waste $850 on a few dinners and some new clothes and maybe a few weekends out with the fam at carnivals or other fun events. Or you can budget and use your other income for those things and keep the dinar and have a chance to make 3000 times your investment. If you can't exchange the money back after a revaluation or re-denomination, then you lost $3000 approximately, but so what... you would have wasted that $3000 on something else, and don't try to pretend you'd have used that for investing in something to make yourself money, if you had never heard of the dinar, of course you wouldn't...

Basically it's foolish to not keep the dinar, given the possibility of making 1000 to 3000 times the return on investment. If you lose it all because you can't trade it back or no revaluation ever occurs, oh well, it shouldn't bother you. It's a small amount of money for no return. Time is more important. I just don't see the point of selling the dinar after making the choice to buy it with the hope of it revaluing. Just sayin'...

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First of all, I plan to keep all of my dinars, and I can see alot of truth in these posts. I do believe in the potential of the dinars, but the one thing I don't have alot of faith in is the Iraqi govermnent. They have dragged there feet every chance they they got, these people are not government material the only way they think is the way they thought 150 years ago POWER POWER POWER. They are still living in an age when getting power ment riding through the dessert cutting peoples heads off. When they can get their act together then we will see movement on the dinar.

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I'll never understand posts like this. You guys just don't understand investments. You whine and complain about a $3k investment like it's the end of the world. Get a friggin life man.

You better have a hundred times that amount invested by retirement age or you'll be working until your dead and on welfare. $3k in the big picture is just pocket change, one months pay!

Millions of people drop $3k everyday on TV's and home theater systems. It isn't really a large amount of money unless you are unemployed, and if you are unemployed you shouldn't be investing in exotic currency.

Read drox's post from another topic. It can't get any clearer than this. Please do sell your dinar and move on. I could have sold a million dinar on ebay for $35-$40 per 25k note and made a tidy profit.

http://dinarvets.com...post__p__559011

I think you are looking at this is the wrong aspect. It is one thing for someone to invest in $3K in the stock market and be able to watch something rise and fall. People who have invested in this have seen nothing rise or fall for how many years, with constant misguided information about it. It has gone from an investment to more of a circus and do not blame people for not wanting to be a part of it anymore. If they can take that money and at least invest it in something that is going somewhere, they have a better outcome. The only outcome seen on this so far is a bunch of lies week after week.

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Basically it's foolish to not keep the dinar, given the possibility of making 1000 to 3000 times the return on investment. If you lose it all because you can't trade it back or no revaluation ever occurs, oh well, it shouldn't bother you. It's a small amount of money for no return. Time is more important. I just don't see the point of selling the dinar after making the choice to buy it with the hope of it revaluing. Just sayin'...

If I thought there was any possibility of a revaluation I probably would not sell. However, I sincerely believe it is NEVER going to happen. In which case, it is foolish to hold 1,000,000 dinar which have absolutely no value to me. I can't buy a single thing with them. I agree that people waste their money on all sorts of things. But it's an irrelevant point related to this investment. "Waste" is in the eye of the beholder. I did not invest in the dinar intending to waste my money. I viewed it like any other investment. I don't buy a stock and expect that I will hold it forever and NEVER sell. If I am convinced that I have maximized the gain (or minimized the loss) on a stock, I sell it. After all, there are opportunity costs that get missed every day you remain illiquid in a stock or foreign currency. In this case, since I don't believe there is any potential in the dinar, it's silly to keep holding. A 1% chance of revaluation (which I think is too high) is still not a reason for me to hold. Obviously, if you refuse to sell your dinar (or stock) under any circumstance or any condition, you are willing to take a 100% loss on your investment. In the case of the dinar, I think you are guaranteeing a loss of 100%. I can't think of a bigger waste than paying money for something and getting absolutely nothing but an embarrassing story to show for it.

I will continue to monitor this and other dinar information boards. If I see real news or information that leads me to believe the dinar might actually re-value (and not a bunch of ridiculous hype), I can always buy dinar again quickly. In the meantime, I will have use of $840 (and my earlier $850 dollars from my first sale). My purchase of dinar 8 months ago was done under the guise of the revaluation being "critical", "urgent" and "imminent". It was all wrong so I'm very comfortable that I have time to re-invest if I need to (although I really don't expect that to happen). I am simply no longer convinced that any revaluation of this currency is "imminent".

I was wrong to purchase dinar last October. I may be wrong to sell them now. But my general experience has been that when I invest based on emotion, I am not very successful and when I invest based on research and logic, I am much more successful. There is no question that I purchased dinar based on emotion and I am selling based on research. I certainly could be wrong but I don't think so.

As I've said, for the sake of many people here, I would still be very happy if it revalued, even if I didn't benefit from it. It wouldn't be the first investment that I failed to properly analyze and I'm sure it won't be the last. But, in this case, I'm quite confident I've made the right decision.

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People who sell their dinar are pathetic... you say you can do so much more with $850 usd? Okay... you can waste $850 on a few dinners and some new clothes and maybe a few weekends out with the fam at carnivals or other fun events. Or you can budget and use your other income for those things and keep the dinar and have a chance to make 3000 times your investment. If you can't exchange the money back after a revaluation or re-denomination, then you lost $3000 approximately, but so what... you would have wasted that $3000 on something else, and don't try to pretend you'd have used that for investing in something to make yourself money, if you had never heard of the dinar, of course you wouldn't...

Basically it's foolish to not keep the dinar, given the possibility of making 1000 to 3000 times the return on investment. If you lose it all because you can't trade it back or no revaluation ever occurs, oh well, it shouldn't bother you. It's a small amount of money for no return. Time is more important. I just don't see the point of selling the dinar after making the choice to buy it with the hope of it revaluing. Just sayin'...

Perhaps not everyone is in the same position that you are. If people wish to sell their currency back and get out they have all the right to do so. I do not think that makes anyone pathetic...no more pathetic than the people who continue to hold onto it. Everyone has their reasons for staying and going. Maybe you could have a little decency for peoples choices and not apply labels to people unless you are in their situation.

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Don't forget to baste the turkey!!!

TJ you always make me laugh!!!laugh.gif. There is so much confusion,emotion,frustration with this dang investment. But announcing that you are selling your dinar is what a child does when they want attention. If you really felt that this investment was a bust<you would sell your dinar,walk away and never be heard from again! You just want attention,and you just want someone to tell you its going to be ok. Sell your dinar and walk away. Keep your dinar and hope for the best. Either way no one cares if you sell or keep your dinar. Im not bashing you cause I know how frustrating this can be, but choose the way you seek attention in an adult manner, not childish"im takin my toys and goin home" just sayin.....

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If it happens great if not no big deal.... its a risk and I only invested what I could loose

It won't break me ......... I will hold as long as it takes.

Words of wisdom here. A well deserved + :D

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People who sell their dinar are pathetic... you say you can do so much more with $850 usd? Okay... you can waste $850 on a few dinners and some new clothes and maybe a few weekends out with the fam at carnivals or other fun events. Or you can budget and use your other income for those things and keep the dinar and have a chance to make 3000 times your investment. If you can't exchange the money back after a revaluation or re-denomination, then you lost $3000 approximately, but so what... you would have wasted that $3000 on something else, and don't try to pretend you'd have used that for investing in something to make yourself money, if you had never heard of the dinar, of course you wouldn't...

Basically it's foolish to not keep the dinar, given the possibility of making 1000 to 3000 times the return on investment. If you lose it all because you can't trade it back or no revaluation ever occurs, oh well, it shouldn't bother you. It's a small amount of money for no return. Time is more important. I just don't see the point of selling the dinar after making the choice to buy it with the hope of it revaluing. Just sayin'...

Let me just say this, you are pathetic and foolish. This person told you his feeling about the investment, nothing more, it's not a logical step for him to continue hoping for something that probably isn't going to happen. Many people can do something with the $850 dollars, like pay rent, or other bills. If you are that fortunate that you don't have to worry about it, then bravo to you. Just keep drinking that kool aid you'll be fine, that's what the guru's/aka pumpers want. Don't think for yourself, don't make a rational decision based on your finances, just keep those dinar, and by the way buy some more! Ha!

If you think you will make 1000 to 3000 roi on this investment then you really are pathetic. Go take an economics class buddy.

Edited by merry1
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