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Worthless Dinar

smartvest7

By smartvest7,
in Dinar Rumors

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DeadGuy Newbie

DeadGuy

Posted
Posted

It's typical. He over bought. Thought he was going to be rich over night. Now the electric bill needs paid and he wants to try to get as much back as possible.

Reminds me of the people doing 30 day hold orders around Christmas. They felt good that they just lost 10% LOL.

smartvest, you shouldn't have bet the farm (or trailer) on something you heard about at the livestock auction.

I hope you get enough back that your wife can still afford that new rolling pin to hit you with for spending all of the check for money that didn't make you rich over night.

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Jim1cor13 Explorer

Jim1cor13

Posted
Posted

I have been wondering how ebay allows currency sales. Don't you need a license to sell currency?

Hi Atheist :)

The answer to your question is available from the FinCEN

(Financial crimes enforecement network) web site in

regards to MSB ( money services business). Here is a few details

stated clearly within their SAR document (Suspicious activity report),

page 41 in regards to the Iraqi Dinar and currency in general that may

help you with future MSB questions. In some ways, dealers have abused

certain conditions doing business as a "MSB" as outlined in red.

FinCEN MSB info.

Suspicious activity report

Any United States entity that buys or sells currency, including Iraqi dinars,

in amounts of more than $1,000 U.S. to any one person in one day may be a

money services business under FinCEN’s regulations at 31 C.F.R. Section

103.11(uu). [Note: there have been questions about the old dinar with Hus-

sein’s picture on it. That dinar ceased to be legal tender around January 15,

2004 and thus ceased to be currency for purposes of the Bank Secrecy Act.]

Money services businesses include:

• Money transmitters;

• Currency Dealers or Exchangers (except those who do not exchange

more than $1,000 in currency or monetary or other instruments for any

person on any day in one or more transactions);

• Check cashers (except those who do not cash checks in an amount

greater than $1,000 in currency or monetary or other instruments for

any person on any day in one or more transactions);

• Issuers, sellers, or redeemers of traveler’s checks, money orders, or

stored value (except those who do not issue, sell or redeem such instru-

ments in an amount greater than $1,000 in currency or monetary or

other instruments for or from any person on any day in one or more

transactions);

Money services businesses generally are required to register with FinCEN, to

establish anti-money laundering programs, and to comply with recordkeeping

and reporting requirements under the Bank Secrecy Act. Dinar sales websites

frequently claim that their businesses are registered with the Department of the

Treasury. These assertions are not always accurate. Further, it may be diffi-

cult to discern from the money services business registration list on FinCEN’s

website (www.msb.gov) whether the business is in fact registered, particularly if

the business is an affiliate of, or a “doing business as” alias for, the business that

is registered. Moreover, even if the business is registered with FinCEN, that

registration does not guarantee that the business is in compliance with other

Bank Secrecy Act requirements or with applicable state law. For these reasons,

a financial institution that conducts business with entities selling Iraqi dinars

should conduct appropriate due diligence to assure itself of the legitimacy of such

entities. All financial institutions that do business with, and potential customers

of, such money services businesses, are reminded that registration with FinCEN

in no way authenticates either the legitimacy of a business, or the compliance of

the business with any federal, state, or local laws.

An analysis of FinCEN’s Suspicious Activity Report database for filings referenc-

ing Iraqi dinars indicated suspicion of the use of Internet dealers of Iraqi dinars

in terrorist financing, although not all of the corresponding narratives provided

clear or complete justification about the terrorist financing nature of the activity

reported. This serves as a potent illustration of the critical importance of a clear

and complete narrative description when filing a Suspicious Activity Report.

Particularly when terrorist financing is suspected, conclusory statements with no

supporting facts or justification are of limited use to law enforcement in pursuing

their investigations.

Further analysis of businesses engaged in dinar sales is ongoing. For instance,

FinCEN analyzed Bank Secrecy Act data (including Suspicious Activity Reports,

Currency Transaction Reports, and Reports of International Transportation of

Currency or Monetary Instruments) involving the purchase of Iraqi dinars to

support a law enforcement initiative that uncovered an elaborate network of

structured money movement by and to persons suspected or convicted of sub-

stantial fraud or other illicit international activities.

---

I hope that answers the questions often raised as to WHO is required to register

as a Money service business. Dealers have used this slogan "registered with the UST"

to their advantage over the years sometimes making false claims to those who were not

familiar with HOW a MSB is to conduct themselves. In other words, that slogan has been

used to also commit fraud and make uninformed customers think they could/should only

purchase through them, causing much confusion of course, to the dealers advantage.

All my best! :)

Jim

---

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Nelg Newbie

Nelg

Posted
Posted

I don’t know who you are and I really don’t care. Your purpose here is to disrupt, confuse, and ridicule those who have a legitimate interest and investment in the dinar they hold. It is asinine and out of place for you to continue placing your irresponsible post on several strings in this forum.

However, you may be right about some selling their dinar on eBay.

Those who are selling Iraqi dinar on eBay are . . .

1. Those who are totally ignorant of the value of the dinar.

2. Those who are influenced by the negative influence of other people’s ignorance of the relevance and profitability of the Iraqi dinar.

3. Those who have been convinced by the naysayers that the dinar is worthless.

4. Those who have been listening to the gurus and have become disenchanted with their ignorant predictions.

5. Those who have no patients and they must have it NOW, otherwise they do not want it!

6. Those who do not understand long term investing.

7. Those who thought they were buying a lottery ticket.

8. Those who need the money because they spent the rent money and need it back.

9. Those who have been listening to their friends and relatives who have not invested and they don’t want the seller to have an advantage financially over them.

Others:

10. The seller does not want to be responsibility for that much money.

11. The seller does not want to pay such a huge amount of the taxes to the U.S. Treasury.

12. The seller can’t see themselves as rich. That just doesn’t happen to someone like him or her!

13. It looks too much like Monopoly money.

Enjoy your very, very short stay here. By the way, if you do stay around, stay very quite. Read and learn. It will change maybe it will help you in becoming more informed about the worth of the IQD.

Nelg

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TFK Newbie

TFK

Posted
Posted

If you still believe the dinar will RV please visit ebay to purchase.

You seem to be making quite the pest of yourself today.

Are you having fun. Did mommy lock you in the basement and now you have to act out? :o

Worthless would imply that it has no use. You need to think outside the box.

dinar007.jpg

Very cute! Just don't rip it getting the tape off! :D

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gr8cooker142 Newbie

gr8cooker142

Posted
Posted

If you still believe the dinar will RV please visit ebay to purchase.

BOO HOO to you!! Why don't you change your diapers and grow up? If you are tired of the ride them sell. What's your problem? Nobody is keeping you from getting your money back from selling your Dinars.

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luckystrike Newbie

luckystrike

Posted
Posted

If you still believe the dinar will RV please visit ebay to purchase.

i am so glad you are selling your dinar. be sure you sell all of it so you wont lose anymore time or money on this investment. HOWEVER WE DONT NEED YOU PREACHING YOUR POOR DECISION TRYINGTO GET MORE PEOPLE TO FOLLOW YOUSO YOU WONT FEEL SO INSECURE. JUST GO AWAY

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Jrose Newbie

Jrose

Posted
Posted (edited)

If you still believe the dinar will RV please visit ebay to purchase.

If you are now a non believer, why are you here posting on Dinar Vets site. I will buy your Dinar for $250.00 per million if you want to drop them? Let me know..

Edited by Jrose
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