Reserves being sold illegally?

I've checked around, and unless I've missed someone, there are no dealers left who are selling reserves. What I'm wondering is.... Since it appears that reserves were being sold illegally (for whatever reason; lack of proper registration, etc.), it only follows that anyone who is holding currency purchased through a reserve program could very well end up have it confiscated.

Wouldn't that currency be considered evidence in the dealers court proceedings?

Not only were they sold illegally, they were purchased illegally. The buyers would not have been qualified thru the Regulation-D guidelines.

Here is a link:

http://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=8edfd12967d69c024485029d968ee737&r=SECTION&n=17y3.0.1.1.12.0.46.176

So, they could be confiscated, evidence or not.

Unless the Dinar in the passion of buyers was involved in the actual raid and/or the serials numbers recorded or another method used to verify where they come from I don't see how the authorities could possibly make customers give it up. Think about it, you have Dinar BUT where did you get it? How could it be determined where that Dinar was purchased, maybe it was bought from a private individual who had decided to give up waiting? I could be wrong but I just don't think the authorities have a right to confiscate such things as bills without absolute proof they were involved in an illegal transaction, that's why they go to such great lengths to record serials numbers or otherwise mark bills used in an investigation. Now if the bills were to be seized during a raid or other type of bust that's a different story and just the fact that the perps have them in their passion on the scene is enough proof that THOSE bills are/were involved.

The bottom line is that, IMHO anyway, anyone who is worried that the Dinar they bought before the busts is going to be confiscated can relax because it seems quite doubtful that such would be the case. The fact that it was not seized immediately during the evidence gathering phase should be even more convincing that the Feds are not interested in what customers purchased before the raids.

Not only were the reserves sold illegally,


Your original post is a copy of the post I made earlier in this thread:

https://www.dinardaily.net/t45826-ktfalways-com-frank26-doesn-t-have-any-layaways-reserves-to-offer-any-more#250033

ssmith VIP SECRET AGENT Posts: 2931 Like:  5923 Join date:  2012-04-10

Subject: Re: KTFAlways.com (Frank26) doesn't have any layaways (reserves) to offer any more   Today at 11:08 am I've checked around, and unless I've missed someone, there are no dealers left who are selling reserves. What I'm wondering is.... Since it appears that reserves were being sold illegally (for whatever reason; lack of proper registration, etc.), it only follows that anyone who is holding currency purchased through a reserve program could very well end up have it confiscated.   Wouldn't that currency be considered evidence in the dealers court proceedings?

From Bondlady's site...

Reserves being sold illegally? Today at 12:50 pm

b2stepblue

MEMBER


Posts: 79
Join date: 2012-10-01
I've checked around, and unless I've missed someone, there are no dealers left who are selling reserves. What I'm wondering is.... Since it appears that reserves were being sold illegally (for whatever reason; lack of proper registration, etc.), it only follows that anyone who is holding currency purchased through a reserve program could very well end up have it confiscated.

Wouldn't that currency be considered evidence in the dealers court proceedings?

2 Re: Reserves being sold illegally? Today at 1:06 pm

emmaduke

MEMBER


Posts: 148
Join date: 2012-04-25
Not only were they sold illegally, they were purchased illegally. The buyers would not have been qualified thru the Regulation-D guidelines.

Here is a link:

http://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=8edfd12967d69c024485029d968ee737&r=SECTION&n=17y3.0.1.1.12.0.46.176

So, they could be confiscated, evidence or not.

I suspect that those who have actually paid of their reserves or layaway purchases and physically have dinar in hand will be OK. Of course since the Fed's have confiscated what the dealers had and frozen all accounts, if they do not physically have them they are screwed.

ssmith wrote:That's a great question!

https://www.dinardaily.net/t45826-ktfalways-com-frank26-doesn-t-have-any-layaways-reserves-to-offer-any-more#250033

Yes, it was... even when it was asked earlier today by you Ssmith, in the KTFA post.

:winky winky:

ssmith VIP SECRET AGENT Posts: 2933 Like: 5925 Join date: 2012-04-10

Subject: Re: KTFAlways.com (Frank26) doesn't have any layaways (reserves) to offer any more   Today at 12:08 pm I've checked around, and unless I've missed someone, there are no dealers left who are selling reserves. What I'm wondering is.... Since it appears that reserves were being sold illegally (for whatever reason; lack of proper registration, etc.), it only follows that anyone who is holding currency purchased through a reserve program could very well end up have it confiscated.   Wouldn't that currency be considered evidence in the dealers court proceedings?

I suppose if a person is incapable of creating worthwhile subject matter then resorting to coping others material is a pretty good option.

Copyright rules aside, and technically speaking, they apply to all sorts of media from the time they are first recorded, captured electronically or on film, the laws of common decency dictate that if you take something from another place you give the original contributor credit if possible. Personally, I try to do that as much as I can, it's not always possible, especially with images, but I try.