Sunday Morning w/Pam

Nothing like Pam's shrill voice to trash an otherwise peaceful Sunday morning.


Tony has known all along that reserves were a losing proposition, yet over and over he would talk about the various ways they could be cashed out.  He's even had Frank Bell from Sterling on past conference calls talking about how to handle the cashing out of reserves.  Maybe Tony can get Frank back on to give us an update.  That would be a sure fire way to light up those phone lines.....and put some more money in Tony's pocket!

Trapdoor wrote

10m ago
The CBI and other's involved NEVER were going to allow the reserves to be honored IMO. No way to cover it. The longest reserv programs are about 90 days. Don't look for an RV until all of these reserves are expired or the companies have been tied up and wrangled in to stop selling them.

ALREADY BLESSED wrote
6m ago
TRAPDOOR - THE RESERVES DON'T HAVE TO EXPIRE....THEY ALREADY PUT A STOP TO THEM....THAT PROGRAM IS OVER AND WAS AS SOON AS THEY RULED THAT THEY ARE 'OPTIONS'

Trapdoor wrote
5m ago
@AB. I thought you mentioned that there were some companies still actively doing business?

I had ALWAYS wondered about the whole reserve thingy anyway. If you look at the research and publications out there that show this to be real, the one thing that NEVER worked into the equation and how to make it financially work were the reserves. Even with the vast wealth Iraq has, it could not cover those reserve programs.

ALREADY BLESSED wrote
1m ago
TRAPDOOR - I HAVEN'T KEPT TRACK OF WHICH COMPANIES HAD POSTED THAT THE 'OPTIONS' PROGRAMS ARE NO LONG AVAILABLE OR ENDED OR WHATEVER....WE HAVE SEEN MOST OF THEM IF NOT ALL OF THEM TAKE THOSE DOWN...MY GUESS IS THAT IF ANY ARE LEFT...THEY WILL GET THEM AS WELL BECAUSE THEY HAVE BEEN 'RULED AS OPTIONS" IF THEY HAVEN'T ALREADY

Trapdoor wrote
7m ago
And I just realized that those who have "lost" money in the reserve program with these shutdowns my never get a refund since they too MIGHT be considered in violation for their part in purchasing illegal options. I don't see criminal implications, but forfeiture of the invested funds is probably why they haven't sent refunds.

Wait until they realize that the reserves that were PAID for and RECEIVED were also purchased through ILLEGAL OPTION TRADING.   I don't think the government allows people to keep things that were purchased using ILLEGAL methods.

A fine example of people talking about things they know nothing about ... I actually agree with Pam ... sorta ... Trapdoor oughta shut their trap until they get a clue, cause it's pretty clear from their comments that they have no idea what they are talking about.

I think Trapdoor made some valid points.

"The CBI and other's involved NEVER were going to allow the reserves to be honored IMO. No way to cover it. The longest reserv programs are about 90 days."

"I had ALWAYS wondered about the whole reserve thingy anyway. If you look at the research and publications out there that show this to be real, the one thing that NEVER worked into the equation and how to make it financially work were the reserves. Even with the vast wealth Iraq has, it could not cover those reserve programs."

"And I just realized that those who have "lost" money in the reserve program with these shutdowns my never get a refund since they too MIGHT be considered in violation for their part in purchasing illegal options. I don't see criminal implications, but forfeiture of the invested funds is probably why they haven't sent refunds."

I was referring mainly to the last part ... Since the laws and commissions exist to protect the unwary they would not be in violation for purchasing reserves in good faith. Eventually the Feds will likely return some part of the money they lost, depending on how much they manage to recoup from assets seized, HOWEVER it will be a very, very long time before we see that happen.

Say, for instance, in good faith you bought a stolen car.  You won't keep the car....I guarantee it.  I don't know why this would be any different. 

The government has put out many warnings.  All anyone had to do is Google "Dinar Scam" to get an education.  They may have even ended up here at Dinar Daily!

Guess time will tell.

Apples and oranges ... you are in possession of stolen property, not the victim of illegal investment advise from an unlicensed adviser and/or fraud ...

But we're still in the fruit family.

It's illegal to be in possession of stolen property.

It's illegal to be involved in a currency deal w/unlicensed sellers.  Ignorance is no excuse.  It just depends on how the government wants to play it.  Especially if the currency was stolen.

https://www.dinardaily.net/t45726-kuwaitis-face-money-mess-as-banks-open

No, I don't think so, the laws are different, as an Insurance Agent, I have to be very aware of the laws regarding equities if only for compliance reasons, I also very aware of what is and is not a compliant transaction. In this case, the reserves or futures nor the cash are illegal. What is illegal are the actions by the unlicensed dealer/adviser selling or advising the purchase of said products. It would be the same if I advised you to buy or sell XYZ mutual fund or ABC stock. The purchase would not be illegal, the product or proceeds would not be illegal, my advise WOULD be illegal.

That's why I am sometimes very careful what I say and how I say it, even though I am not acting in an advisory capacity, I don't want to stray over the line into what could be a grey area.

With all the articles about not taking currency out of the country, stolen Iraqi currency, not knowing where the dealers obtained the IQD they sold.....that makes me think they may not let people keep it.


 I seriously doubt the people in possession of it would be punished....other than losing what they paid for.

That's something we have no way of controlling or effecting, so not much sense worrying over it. But it has nothing to do with the question about their eventually getting at least some money back on the reserves or not.

Personally I never even considered reserves, I try to avoid credit for the most part, paid cash for our car, paid cash for our house, I do use a couple of cards I get miles on for groceries etc, which I pay off the balance every month, if I can't I won't spend any more on them till I can. I sure the heck was not going to credit to buy into something as risky at this.