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Implications of Debt Default

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Implications of Debt Default Empty Implications of Debt Default

Post by mike1401 Thu Jul 28, 2011 9:04 pm

It appears from the present news today we are in a standoff on the debt issue. May be for the best at least we are finally getting some representation in Congress mostly by the newely elected Freshman (Tea Party Patriots). They have held the leaders in Congress to stand firm against the status quo finally. I for one am not affraid of dead lock going all the way and forcing Obama and his cronies to shut down parts of the government. In reality that's what we all want anyway (shut the darn thing down to some extent). The only ones still wanting all this to keep flying as usual is the protected elete who are sucking the life out of this country. Now if we do defaut on the debt and the dollar falls this is my belief as to how the dominos will fall.
1. The IQD appears by all the intel we have to be fixed to the GBP. (Good Stuff.)
2. Since it is pegged to the GBP if our dollar falls to the GBP our cash out in IQD rises. If it had stayed tied to the U.S. dollar we would not get any additional benefit most likely especially if the rate is already locked in. (Also good Stuff actually very good stuff.)
3. After the R/V and a budget gets finalized and things begin to smooth out now since our country has 4 trillion IQD and we hopefully start to pay off some debts along with the increase in tax revenue from the taxes on the IQD and assets we hold in IQD our dollar should rally giving us an additional sort of R/V on the back side but now called a dollar correction making your cashed out IQD currency now in dollars worth alot more to other currencies. (Good Stuff again)

Patience is the key here and now the real gamble or decision must be determined. If the R/V happens before the Aug 2nd time frame do you cash out at once before the dollar drops in value to other currencys or do you wait a little untill after the dollar drops( giving you more $$$$ in the exchange. This is where some real experience in knowing and understanding the markets and how they work could be very beneficial. Also taking your particular circumstances into play: time holding the dinar short term or long term unless they change the rules at R/V time, how much you hold and what is your risk level. Maybe blend your decison with some at once and some later. Any way I am not really all that concerned on the debt issue it will get fixed and possibly play out to our advantage as long as you are invested well in IQD you are already hedged against this happening.

I hope this helps some of you and as usual this is based on the present facts we are hearing from the intel as of today. God Speed to all of you.

mike1401
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Post by Gmansaid Thu Jul 28, 2011 9:08 pm

Mike1401, your first post and a darn fine one at that. Welcome , I can tell you will be a nice asset to this forum.

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Post by mike1401 Thu Jul 28, 2011 9:12 pm

Gmansaid wrote:Mike1401, your first post and a darn fine one at that. Welcome , I can tell you will be a nice asset to this forum.

Thanks for the nice welcome. I just felt so many are so worried about all this and need to just let it come to them. Our news people are always trying to stur up a world wind of worry and we know full well our country is not going to default for long. This could really work well for us IQD holders in the long run.

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Post by Dr. Linda Thu Jul 28, 2011 9:30 pm

Thank you for an excellent post, Mike! Great advice to us all in regards to our cash in strategy. Welcome to OOM.net! :queen:
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Post by happywelshguy Thu Jul 28, 2011 9:33 pm

Good concise and accurate post

To any Canadian reading this....

I am not an advisor and I would suggest checking for yourself, what I am about to state.

When you cash in your Dinar, in USD$ funds, I would suggest you open up a USD$ account.

If you convert USD$ to $Canadian currency you will lose out BIG TIME on the exchange

Currently USD$1Million converted to $Canadian is 1,000,000.00 US Dollars = $951,000.00

bounce

mike1401 wrote:It appears from the present news today we are in a standoff on the debt issue. May be for the best at least we are finally getting some representation in Congress mostly by the newely elected Freshman (Tea Party Patriots). They have held the leaders in Congress to stand firm against the status quo finally. I for one am not affraid of dead lock going all the way and forcing Obama and his cronies to shut down parts of the government. In reality that's what we all want anyway (shut the darn thing down to some extent). The only ones still wanting all this to keep flying as usual is the protected elete who are sucking the life out of this country. Now if we do defaut on the debt and the dollar falls this is my belief as to how the dominos will fall.
1. The IQD appears by all the intel we have to be fixed to the GBP. (Good Stuff.)
2. Since it is pegged to the GBP if our dollar falls to the GBP our cash out in IQD rises. If it had stayed tied to the U.S. dollar we would not get any additional benefit most likely especially if the rate is already locked in. (Also good Stuff actually very good stuff.)
3. After the R/V and a budget gets finalized and things begin to smooth out now since our country has 4 trillion IQD and we hopefully start to pay off some debts along with the increase in tax revenue from the taxes on the IQD and assets we hold in IQD our dollar should rally giving us an additional sort of R/V on the back side but now called a dollar correction making your cashed out IQD currency now in dollars worth alot more to other currencies. (Good Stuff again)

Patience is the key here and now the real gamble or decision must be determined. If the R/V happens before the Aug 2nd time frame do you cash out at once before the dollar drops in value to other currencys or do you wait a little untill after the dollar drops( giving you more $$$$ in the exchange. This is where some real experience in knowing and understanding the markets and how they work could be very beneficial. Also taking your particular circumstances into play: time holding the dinar short term or long term unless they change the rules at R/V time, how much you hold and what is your risk level. Maybe blend your decison with some at once and some later. Any way I am not really all that concerned on the debt issue it will get fixed and possibly play out to our advantage as long as you are invested well in IQD you are already hedged against this happening.

I hope this helps some of you and as usual this is based on the present facts we are hearing from the intel as of today. God Speed to all of you.
happywelshguy
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