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What happens if you don't cash all in?

genique05

By genique05,
in RV & Dinar Questions

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genique05 Newbie

genique05

Posted
Posted

Maybe this question was answered already and I didn't get a chance to see it. I'm still fairly new here. Ok, say the RV happened and we have a time limit to cash in the 25K notes. We all know the rate will rise over time. What happens if I kept a couple of my 25K notes after the time limit, would I be able to cash it in and get the new rate? OR would I be stuck with it as a souvenir? Thanks :rolleyes:

Go RV...

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Sann Newbie

Sann

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From what I've heard, you'll have it as a souvenir like the old Saddam currency. Of course, you could probably send it in and replace it with lower denoms. in new currency and hold on to those for future revaluation which could be slow.

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Darren77th Newbie

Darren77th

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I believe we will need to cash in and buy them.

Agreed. This is where the Dinar Dealers will make a killing. They will charge you a huge spread say 20-30they percent and then you have to buy more from them at another 20-30 percent spread.

Is there anyone out there that know of a better way to do this without getting killed in the above situation short of flying to Iraq.

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genique05 Newbie

genique05

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Thanks for all the feedback DV Fam. I hope we're not forced to cash in all of our 25K notes in a time limit.

Agreed. This is where the Dinar Dealers will make a killing. They will charge you a huge spread say 20-30they percent and then you have to buy more from them at another 20-30 percent spread.

Is there anyone out there that know of a better way to do this without getting killed in the above situation short of flying to Iraq.

I'd like to know this as well (buying more w/out paying so much spread)

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Aqua Dude Newbie

Aqua Dude

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i think there is going not going to be a time period...but simple a date set when the CBI will request that banks turn in all outstanding large notes....however, if some are still on the streets they will be taken in as they are legal tender....i don't believe they will be rendered tenderless

like i said in my thread about large denom US notes......they are still legal tender....and can still be used to cash in at banks

this is all IMO, do not invest or base your strategies on my opinion

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hoopdog Newbie

hoopdog

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i think there is going not going to be a time period...but simple a date set when the CBI will request that banks turn in all outstanding large notes....however, if some are still on the streets they will be taken in as they are legal tender....i don't believe they will be rendered tenderless

like i said in my thread about large denom US notes......they are still legal tender....and can still be used to cash in at banks

this is all IMO, do not invest or base your strategies on my opinion

So I take it you are on the bubble as to whether there is going or not going to be a time period? LOL.....just kidding

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rdm5130 Newbie

rdm5130

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Thanks for all the feedback DV Fam. I hope we're not forced to cash in all of our 25K notes in a time limit.

I'd like to know this as well (buying more w/out paying so much spread)

I opened up a Warka account so I don't have to worry about it, plus you earn 7% interest while you wait. Good luck

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leanonme Newbie

leanonme

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Posted

OK this thread looks like a good place to put whats going on in my thoughts. WHEN the Dinar is a internationaly traded currency then backs will accept the Dinar, right? Then we could deposit the Dinar in the local bank as foreign currency just like other currencies that are tradeable right now, like the Yen or Euro. What about that? I hope to hear your thoughts without the + or- is fine. :)

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rdm5130 Newbie

rdm5130

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How do you open up a warka acc & how much is needed?

I read Adams book and followed his step by step instructions that he has outlined there. There also is a thread in the Warka section on the homepage. It really is rather simple but does take a little time, but well worth it in my opinion. Minimums are spelled out on Warkas site. Don't recall off the top of my head but they aren't t very high.

Good luck!

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pudge Newbie

pudge

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Posted (edited)

I read Adams book and followed his step by step instructions that he has outlined there. There also is a thread in the Warka section on the homepage. It really is rather simple but does take a little time, but well worth it in my opinion. Minimums are spelled out on Warkas site. Don't recall off the top of my head but they aren't t very high.

Good luck!

When the CBI anounces the RD, you'll have a time frame to turn in your 25k notes and in return receive a 25 dinar note. The value against the dollar will remain the same and in the future hopefully it will rise as Iraq regains its economic footing along with it being internationally traded as a floating currency.

Edited by pudge
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