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» THE MUSINGS OF A MADMAN
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»  Minister of Transport: We do not have authority over any airport in Iraq
WSOMN Members are Vested I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

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Post by Scotchie Sat Apr 22, 2017 9:27 am

My friends at WSOMN are totally vested and invested in the Iraqi dinar as well as other currencies.  Some have spent over $10,000 U.S. to buy dinar, dong, zim, rupiah, and rial.

The dong and rupiah are internationally traded currencies, and should never be worthless.  Indonesia is talking about dropping some zeros, which will be a redenomination, not a revaluation. 

Iran is under strict sanctions, and it will be some time before their currency is freely traded, or possibly revalued. 

The old zim is a novelty, not a currency.

This leaves the dinar:  As I initially mentioned you are vested and invested.  Think of all the sleepless nights, nights where your phone was you bed partner, the ups and downs of the roller coaster ride.  Think of the places you did not go to, thinking if you leave the house or the city where you live, the dinar may revalue any moment.  Some, perhaps, cancelled vacations, cancelled paying necessary bills, failed to buy products that were once a mainstay in your home....just so you could buy more exotic currencies.

Since you are vested and invested, there is one more invoice you may want to consider investing in.  That is an attorney, who understands government regulations.

You see, Executive Order 13303, which covers corporate entities from losing out on any investment they have in Iraq, it says nothing about individual investors and currency speculation.  You may be surprised what the attorney may conclude.  There will never be 100% agreement; however, there may be no coverage for individual currency speculators. 

In other words, you, and I, may have been snookered.

Might make an interesting discussion on WSOMN, before Sunny Daze or ADMINBILL deletes and warns you are being monitored, and this type of behavior might result in closing the room.

As much as you need WSOMN to remain open, for hopium, ADMINBILL needs WSOMN to remain open for the person who is monitoring.  Lots of email and Twitter addresses to gather.

Scotchie
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Post by Ssmith Sat Apr 22, 2017 9:39 am

I haven't looked at Exec Order 13303 in ages, but my understanding is that it protects US companies that are doing business in Iraq from lawsuits there....  They couldn't have assets, monies seized, etc.

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Post by ReapAndSow73 Sat Apr 22, 2017 9:52 am

LOL - EO 13303 and CPA 39 was tied to the Oil for Food program, has zilch to do with holding currency outside the borders of Iraq.  If you understand money mechanics, IQD is not an asset.  It's concurrently an asset AND liability.  When you deposit currency into a bank, the bank shows it as an asset on its balance sheet (bank value goes up) and a liability (bank owes you that money).  13303 has absolutely, positively NOTHING to do with physical currency.  Nothing.  Zilch.  CBI can (and will) redenominate IQD, because it's a ledger-line trick to deal with the overprinting - and IQD holders won't even be able to recover what they invested unless they're in Iraq to exchange those notes.  There is NO legal protection against it - other than your (potential) ability to write off the losses on your tax returns.  In other words,  13303 is simply another guru lie to entice you to overpay for worthless currency.
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