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Cash Out Question

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ou812
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Post by freebird Tue Mar 20, 2012 1:36 pm

Assume the initial RV comes out at only 1:1 (1 dinar equals $1USD) and I have $10MM dinar. Because I believe the dinar will continue to rise in value over time, my question is: Can I turn 100% of my dinar in to WF and cashin out only 25% to $USD letting them hold the remaining balance of $7.5MM Iraq currency owned by me in my account?

In other words, I don't want to keep the remaining dinar held for later cash out in a hole in the ground. The balance in my account would still show $10MM of which $2.5MM is USD and $7.5MM in Iraqi currency? I think my math is right. Have I assume correct? Thanks.

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Post by ou812 Tue Mar 20, 2012 1:42 pm

After you cash in 25% go out and buy a good safe an put the remaining dinar in it, and i dont mean this as a joke.

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Post by ntvtexan Tue Mar 20, 2012 2:46 pm

They could only do that if it's a Foreign Currency (IQD) Account.

That's the idea behind having an Iraqi WARKA Bank Account. Some in USD, majority in IQD !

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Post by sunstarhb Tue Mar 20, 2012 3:08 pm

I would part with my Dinar, but it is just me.

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Post by mr_evans2u Tue Mar 20, 2012 3:11 pm

I'm cashing out 25k at first just to test the waters and see how everything goes.
After I am happy with how the transaction goes I plan to cash in 80% and hold the remaining 20% in a safe to cash in at a later date (hoping the rate goes up)

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Post by SEBtopdog Tue Mar 20, 2012 3:16 pm

Usually, optimism comes naturally to me. In this instance, however, if God allows us to have an RV of the IQD soon, I will cash out ASAP. I believe the Middle East is a powder keg that inevitably will blow up. I'd like to try to improve some lives before that happens.

Make every day a blessed day. :flower:

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Cash Out Question Bump~0 Will someone please let the RV Widget out of the jar?
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Post by freebird Tue Mar 20, 2012 5:49 pm

Okay, Thanks for all your comments!

I am like some and really don't want to hear the word RV ever again! I just thought that if it is then a tradeable currency, I could hold it just like GBP, or YEN in a big 4 currency account. From what I hear I can not do that?

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