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Post by chilimama on Wed Aug 05, 2015 2:45 pm

rene5555 wrote 
13s ago
Heck Nooooooo!!! I am so broke I can't afford a plan B!
 
mailboxmoney wrote 
17s ago
my daughter called last night all excited her horoscope said Money was coming lol
 

sumac wrote 
23s ago
No mo money to buy mo! Gonna be happy and successful with what I bought back in 2012!!!! 
 

luvwulfs wrote 
50s ago
rene saw it the first time. You have plan B?
 
jwmmsm69 wrote 
51s ago
Thank you ALREADY BLESSED! Smile
 

Tbirdd wrote 
1m ago
*******Corey's motto: Mo time to buy! yowzaaa
 
cyndisaintsfan wrote 
1m ago
zebragirl you are the bomb
 

luvwulfs wrote 
1m ago
Harpo you will still be better off , correct? Gotta stay positive
 

rene5555 wrote 
1m ago
Treasury Vault has suspended their Reserve Program as of last night!!!!!
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Post by TinfoilHatless on Wed Aug 05, 2015 3:01 pm

TREASURY VAULT SUSPENDS THEIR RESERVE PROGRAM... Avatar?id=1585284&m=75&t=1438739872fireball92 wrote 
11m ago
Hey all, anyone else rather miffed and taken advantage of? Rather a little ipped off?  
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Post by dwm007 on Wed Aug 05, 2015 3:51 pm

If these reserves really are illegal and that's what the feds went after the other dealers for then have these guys not already committed the crime? How can one or two dealers be prosecuted while ignoring the others who were doing the same thing? Seems as if stopping now by suspending reserve sales would be no different than a known bank robber protecting himself by not robbing any more banks?

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Post by Ponee on Wed Aug 05, 2015 3:57 pm

We have no proof that they are NOT looking at all the other dealers.


Maybe they were directed to the ones that are more popular because those are the ones that many dinarians purchased from and may have sent information about. 



Also, those are the dealers that actually had problems with EACH OTHER and the word on the street is that they are all rolling on each other.


Last edited by Ponee on Wed Aug 05, 2015 7:49 pm; edited 1 time in total

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Post by Ssmith on Wed Aug 05, 2015 7:24 pm

Reminds of what Tony keeps saying.  "It's a process".
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Post by aksafeone on Wed Aug 05, 2015 7:28 pm

It will be interesting to see how the courts handle this.  In all actuality it should be that the dealers have to return all of the reserve/layaway monies to the people who sent money in for those deals. 
It is impossible for them to have had all of the dinar on hand that people reserved or laid away.  Think about it.  1000 people reserve 1 million dinar each every day for a month (I know this went on for years).  It is inconceivable that the dealer had that many dinar just laying around to cash in the reserve or lay away.  For this not to be questionable the dealer would have had to have an equal amount on hand should all of the people paid off their reserve/layaway at the same time.  One would wonder at the amount of dinar that was actually in the United States at any time and then how much did the dealers hold.  I'm betting NOT ENOUGH, NOT NEARLY ENOUGH. 
Doesn't seem right does it?  Sounds like fraud to me.  And then one remembers that these dealers wanted their money either with money orders or bank transfers.  If the deal was a bank transfer then the telephone lines would have had to have been used and if it was fraud then yet another Federal Agency would be involved - that that controls the communication lines not to mention the postal service for the money orders.  Mercy, it get better the more one contemplates this thing.
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Post by dwm007 on Wed Aug 05, 2015 7:45 pm

I'm thinking that in addition to suspending reserve sales they are also destroying as much evidence as they can at this point. Obviously the Feds seized as much as they could in the form of records etc during their raids but at the same time it has alerted the other dealers that they may be next hence the suspension of sales. Seems to me if the Feds actually are intending to raid/shutdown other dealers they would have launched simultaneous raids on all of the ones that are to be involved in the crackdown in order to prevent them from hiding/destroying anything that might be incriminating.

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Post by Kevind53 on Wed Aug 05, 2015 9:12 pm

They went after the ones they had evidence about.

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Post by dwm007 on Wed Aug 05, 2015 9:48 pm

@Kevind53 wrote:They went after the ones they had evidence about.

That's my point, if selling the reserves is in itself illegal then how could the feds possibly not have any evidence against the rest of the dealers? Obviously there are thousands of reserve sales that could be verified and if these sales are illegal then why are they not all being charged?  I suppose there's probably a lot more to it that we will find out about as this progresses.

 Just curious and trying to figure it all out.

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Post by Kevind53 on Wed Aug 05, 2015 10:15 pm

They may well have, but not have the cases ready yet. They don't go before a judge and ask for an indictment till they have really solid evidence. Also, not all dealers may have engaged in the same practices, really there are a lot of variables.

Drug dealers are a good example, what they are doing is definitely illegal, and the feds and locals have a pretty good idea who is dealing, but they still have to gather enough solid evidence to convict before they bring a case and make an arrest. It's not easy, especially with the smarter and more careful ones.

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Post by dinarstar on Wed Aug 05, 2015 10:22 pm

It's a process is correct... and over time the mills will be grinding almighty fine methinks...

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Post by Ssmith on Thu Aug 06, 2015 1:32 pm

@dwm007 wrote:I'm thinking that in addition to suspending reserve sales they are also destroying as much evidence as they can at this point. Obviously the Feds seized as much as they could in the form of records etc during their raids but at the same time it has alerted the other dealers that they may be next hence the suspension of sales. Seems to me if the Feds actually are intending to raid/shutdown other dealers they would have launched simultaneous raids on all of the ones that are to be involved in the crackdown in order to prevent them from hiding/destroying anything that might be incriminating.

Hiding/destroying may not be that easy or make their situation even worse.


Excerpt from the SAR Activity Review
 Suspicious Activity Involving the Iraqi Dinar

Over the last year, the circumstances of the war in Iraq have created the phenomenon of businesses trading in new Iraqi dinars. Many of these businesses advertise or conduct business over the Internet, and suggest that the Iraqi dinar, much like the Kuwaiti dinar following Operation Desert Storm, will increase in value exponentially following United States military involvement in Iraq. Most investors purchase dinars from websites established particularly for selling dinars or from major auction websites.

FinCEN has been receiving inquiries regarding the legitimacy of websites offering Iraqi dinar sales. While it is not necessarily illegal to buy or sell Iraqi currency, there are a number of risks and compliance concerns for the financial community. For example, Iraqi officials state that it is illegal under Iraqi law to export dinars. Therefore, in addition to questions about the source of the currency, and the potential for investment or securities fraud, businesses offering to sell dinars may also pose the risk of being used to fund terrorism or as a vehicle for money laundering. FinCEN also has a particular interest in these businesses because they may be money services businesses required to comply with the Bank Secrecy Act.

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 Hussein’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 instruments 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 referencing 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 substantial fraud or other illicit international activities.

Excerpted from SAR Activity Review Issue 8, page 41


http://www.bankersonline.com/security/sar/dinarsar.html


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Post by chilimama on Thu Aug 06, 2015 2:25 pm

GOOD FIND SSMITH!

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Post by clayf on Thu Aug 06, 2015 8:01 pm

Hopefully this is the way to slowly stop the flow of dinar and then BOO YAH .... If your hold'in some your a smil'in.... A mans gotta have his dreams right!!!!  :panda :
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Post by Kevind53 on Thu Aug 06, 2015 8:56 pm

Dream on ... dream on ...

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