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Posted: 5/22/2016 6:56:03 PM EDT
any thoughts on investing in foreign currencies?  I know many people bought Dinar awhile back.  The zim is not legal tender anymore but still bonded.  Many people talk about the VND as well
Link Posted: 5/22/2016 6:59:14 PM EDT
[#1]
Never heard of this but I'd love to know more...

V
Link Posted: 5/22/2016 7:11:25 PM EDT
[#2]
I have a former investor client who went in on the Iraqi Dinar 7-8 years ago. He had $50k in it IIRC. Has been awaiting an event referred to as a "revaluation" all this time. Supposedly, when this happens, he will make several million dollars on his investment Don't know the details or exchange rates though, so the #'s could be off.
Link Posted: 5/22/2016 7:23:27 PM EDT
[#3]
I'd be very wary, OP...a quick googling of "foreign currency redemption scam" turns up plenty of links, so something a bit hinky is definitely out there. Here is one link that turned up talking about just such a dinar and dong scam...
https://skeptoid.com/blog/2015/07/14/the-next-great-currency-scam/

You need to do some research to see if your neighbor's description of what he's up to sounds like any of the results. More than likely, he is in for an unpleasant surprise. Or he is baiting the hook with some flashy luxury goods to bring in you and any other unsuspecting fish to perpetrate the scam on you. He can "buy" all sorts of stuff outside his price range with some handy plastic, and not have to worry about really paying for it ever. After he misses a few payments, somebody comes along to repo the fancy wheels.
Link Posted: 5/22/2016 7:34:34 PM EDT
[#4]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I'd be very wary, OP...a quick googling of "foreign currency redemption scam" turns up plenty of links, so something a bit hinky is definitely out there. Here is one link that turned up talking about just such a dinar and dong scam...
https://skeptoid.com/blog/2015/07/14/the-next-great-currency-scam/

You need to do some research to see if your neighbor's description of what he's up to sounds like any of the results. More than likely, he is in for an unpleasant surprise. Or he is baiting the hook with some flashy luxury goods to bring in you and any other unsuspecting fish to perpetrate the scam on you. He can "buy" all sorts of stuff outside his price range with some handy plastic, and not have to worry about really paying for it ever. After he misses a few payments, somebody comes along to repo the fancy wheels.
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A Rothschild wrote that article, literally.  just sayin
Link Posted: 5/22/2016 7:51:38 PM EDT
[#5]
Link Posted: 5/22/2016 8:08:56 PM EDT
[#6]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
LOL, either your neighbor got scammed, or is trying to run the scam.

Either way, it should be entertaining.
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Who makes money on the scam? Travelex? The Bank?  Is Wells Fargo behind this scam?  You trade USD for a foreign currency.  No middle man
Link Posted: 5/22/2016 8:19:44 PM EDT
[#7]
This is no surprise.


Our company holds yen and dollar and sells when it's profitable.

Link Posted: 5/22/2016 8:26:46 PM EDT
[#8]
Been seeing signs in the local wells fargos lately about doing currency exchanges.
Link Posted: 5/22/2016 8:38:36 PM EDT
[#9]
Join date?
Link Posted: 5/22/2016 8:43:06 PM EDT
[#10]
Link Posted: 5/22/2016 8:50:24 PM EDT
[#11]
I think Zimbabwe notes are on the trillions now. As in 50 Trillion buys an egg. Like 200% inflation yearly , for 20 years. On a currency that was once quasi stable backed by a productive farming economy.
Link Posted: 5/22/2016 8:53:25 PM EDT
[#12]
Link Posted: 5/22/2016 9:05:15 PM EDT
[#13]
You like gambling?  https://www.oanda.com/forex-trading/trade-homepage02

Why go to Vegas.   As far as what your neighbor is talking about I have no idea and I follow this stuff pretty closely.  Something ain't passing the smell test.   There was a guy here who conned people in into giving him "loans" he said his business was to buy oil below market through some Saudi connections he had and sell it in the futures market.  Guy took and blew through like $100 million of other peoples money before the Feds got him convicted of running a ponzi scheme.
Link Posted: 5/22/2016 9:17:52 PM EDT
[#14]
This will be good.
Link Posted: 5/22/2016 9:24:18 PM EDT
[#15]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


A Rothschild wrote that article, literally.  just sayin
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
I'd be very wary, OP...a quick googling of "foreign currency redemption scam" turns up plenty of links, so something a bit hinky is definitely out there. Here is one link that turned up talking about just such a dinar and dong scam...
https://skeptoid.com/blog/2015/07/14/the-next-great-currency-scam/

You need to do some research to see if your neighbor's description of what he's up to sounds like any of the results. More than likely, he is in for an unpleasant surprise. Or he is baiting the hook with some flashy luxury goods to bring in you and any other unsuspecting fish to perpetrate the scam on you. He can "buy" all sorts of stuff outside his price range with some handy plastic, and not have to worry about really paying for it ever. After he misses a few payments, somebody comes along to repo the fancy wheels.


A Rothschild wrote that article, literally.  just sayin


Then ignore that particular one and find one of the other dozen links that will turn up if you search that phrase. See if what they have to say sounds reasonable. Rothschilds (? and I have no idea what you mean by that) cannot have written them all. Make your own decisions. Better yet, listen to your neighbor. You'd best get on that money train right away before everyone else finds out how we can make all this money!
Link Posted: 5/22/2016 11:36:02 PM EDT
[#16]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
You like gambling?  https://www.oanda.com/forex-trading/trade-homepage02

Why go to Vegas.   As far as what your neighbor is talking about I have no idea and I follow this stuff pretty closely.  Something ain't passing the smell test.   There was a guy here who conned people in into giving him "loans" he said his business was to buy oil below market through some Saudi connections he had and sell it in the futures market.  Guy took and blew through like $100 million of other peoples money before the Feds got him convicted of running a ponzi scheme.
View Quote


Op, about a year ago i discovered a titillating television program call "american greed". I enjoy television programs that discuss financial issues (shark tank, the profit, peoples court, etc). I recorded all of the old episodes via dvr and watched them over the last 12 months.

I envisioned your entire op as a combination of Stacy keach narrating, and a semi silioutted victim discussing it in per shame and embarrassment, as they often do in the opening of the episodes.

Good luck. I look forward to reading about this on forbes.com next year when the fbi investigation becomes public.
Link Posted: 5/24/2016 2:33:00 AM EDT
[#17]
Krugerrands, Maple leafs  and Pandas
Link Posted: 5/24/2016 10:23:52 AM EDT
[#18]
Over a decade ago I figured out that the Federal Reserve Note was doomed.  This inspired me to consider other currencies including the Swiss Franc.  Then I learned about how heavily Credit-Suisse and UBS-AG were heavily invested in MBS and both institutions took a beating in 2008.  Pass.  It doesn't help that the referendum to back the franc with gold failed.

The Chinese probably have the most gold, but their over-leveraged more than we are.  The only saving grace is that unlike our debt, theirs is internal.  They still hold over $2 trillion in Treasuries so, I don't trust the Mao-faced money (Yuan/RenMinBi) either.  

Remember the impact of  FACA and virtually all foreign banks doesn't want anything to do with an America citizen.  Even overseas banks that are dmestically located here but hold your money in foreign currency (and reports your interest so you're not tax evading which is fine by me) aren't secure because the Crominbus and Dodd-Frank affects any unsecured creditor (You, the saver) here in 'murica.  You don't have dibs on your own ducats (cuz they now belong to the bank).

The thing that will probably survive the global economic reset is the IMF's SDR, but only big boys get to play that game and there's no room for little fish like ourselves.

Look up James Turk Goldmoney or BitGold.
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