Thread: "Currency Talk Only". Investing,Ideals,Suggestions,Advice

I was wanting to start this for my own Education as well as maybe helping some others too. We have very Intelligent members on our forum that may very well contribute too. I will start with my thoughts and Questions First.

If anyone can help me. This is really a Ideal. Here we go.

Lets say that my Investment in the Iraq Dinar comes in at 1:1 and Lets say I own 5 million dinars. Need opinion on this now. I understand but dont understand the totall reasoning around the dollar decline. But lets say that I might have a clue.

Now that I have 5 million nid's at a r/v 1:1 What should I do? Ok, My Ideal is to put 1 million nid's to account's in lets say... Euro's, Yens, Dong, USD and the last one, just leave as nid's.


Can this all take place right here in the US Banks? Or do I have to go to International Banking for those? My thinking with the noted decline of the dollar to be a possibillty in the future that this might be a smart way to go as well as a Safe Harbor too. While leaving me just 1 million in USD to manage off of with US Banks or what ever to earn a dividend.

Ok that is a good way to start this. How about it?

Interesting,

Well, everyone knows my strategy, and it does not include cashing all my dinar out into any other currency immediately. Iraq has a long way to go to return to former levels, and we have all heard the intentions are to do just that, so I believe it, regardless of the killing.

Certainly, I have nothing againt cashing out enough to pay off your debts and purchase a few toys, but when all is said and done, you want to hold onto as much dinar as you can and look at it as a long term investment.

As to investing in other currencies other than dollar, yes, this can be an alternative, but having been in FOREX for years, these typical currencies do not move significantly enough to be long term benifit to hold. Remember, the dinar has the most potential to rise significantly, so stick with it for your best returns. Also remember that with falling dollar, you will win win, as you will get more dollars for your dinar when the time comes.

You have to understand what is going on in the world to best utilize what we will all see shortly. As I mentioned, smart investors are moving offshore, and that includes Waren Buffet, and I have followed his lead before with great results, so follow the money, and if he is moving billions offshore, then so should you. The almighty dollar is doomed, sorry, this is not what many will want to hear, but our leaders have screwed the whole system up, and printing money without it being backed with anything of value is going to catch up to the dollar in the next year as I see it.

We just heard the news that many countries are dumping their dollar investments, as well as shifting away from dollar for oil. Iran, and VZ next, and this is significant, as it will start the ball rolling in the wrong direction, down goes the dollar. When panic kick in, and China starts pulling out trillions more, all will follow as the dollare declines, and there will be no way to stop it. This will crush the economy in U.S. and will impact many other closely connected countries who use dollar as well.

This is not news to those in postion to know world economics, it is just that it is no longer just being talked about, the big money is already moving offshore, so should ours, and it is as long as you hold onto your dinar. Now here is another warning to head, don't put it all in a safe deposit box at your local bank for it is not as safe as you think there. FDIC cannot cover even a penny per dollar if a collapse came about and their was a run on banks to cash out to foreign money or gold and silver, so don't make the mistake of putting your dinar in banks in U.S.

Hold off a bit longer before purchasing your new homes is another point I wanted to make. You may be able to purchase the same home for half of what it is now in another year. We all know real estate is way over priced at the moment, and a correction is already starting, so wait is my best advice. It is all about being patient, and we have all learned that lesson over the past few years, so use what we learned and wait before you cash out everything and don't be the kid in the candy store with a pocket full of money. (g)

One last point to consider. No one knows how soon the dinar will return to former levels, but it will, and with talk of 2010 and universal middle east currency, I would suspect it will be back to former levels by then, so think about your ROI by holding on a few more years. Also important to consider, and again, this is for U.S. residents mostly, look at holding gold and silver for the next few years and put it in your own safe in your basement or whatever, don't put it all in the bank is my point. We will all have so many options, so just be patient, with the great group here there will be plenty of good investment opportunities to evaluate, just be patient. I know I will be putting more into ISX as Iraq will be a boom town for years to come and all will profit far more than in any U.S. stocks.

Good luck to all, Mike

Originally Posted by neno

I was wanting to start this for my own Education as well as maybe helping some others too. We have very Intelligent members on our forum that may very well contribute too. I will start with my thoughts and Questions First.

If anyone can help me. This is really a Ideal. Here we go.

Lets say that my Investment in the Iraq Dinar comes in at 1:1 and Lets say I own 5 million dinars. Need opinion on this now. I understand but dont understand the totall reasoning around the dollar decline. But lets say that I might have a clue.

Now that I have 5 million nid's at a r/v 1:1 What should I do? Ok, My Ideal is to put 1 million nid's to account's in lets say... Euro's, Yens, Dong, USD and the last one, just leave as nid's.


Can this all take place right here in the US Banks? Or do I have to go to International Banking for those? My thinking with the noted decline of the dollar to be a possibillty in the future that this might be a smart way to go as well as a Safe Harbor too. While leaving me just 1 million in USD to manage off of with US Banks or what ever to earn a dividend.

Ok that is a good way to start this. How about it?

I can tell you what they just told me now on the phone from my bank that exchanges IQD. They said that I'd have to exchange into USD and then buy Euro or whatever foreign currency I wanted and that they don't hold your foreign currency in an account--that they only have USD accounts. He suggested I hold it in a safety deposit box. I had to leave a message with the foreign currency manager as he was out so I will expect a call back to get some better info about all of this and will post when I do.

Ok, I have a question now. Would one way to do this be to open a forex account and buy whatever currency you wanted on the FOREX and hold it in that form on your FOREX acct??. I am totally ignorant on this subject. I know that when I want to deposit money into my Scottrade account, that I just take a check to their downtown office and give it to the girl at the desk and within 24 hours I see my money online in my account ready to trade. Does the FOREX have an office in the major cities where you can do the same. How do you deposit money into a FOREX acct?? I guess the downfall of holding your money in that type of an account would be that you don't earn much interest?? I think having an e-gold account and holding it in gold wouldn't be a bad idea. Someone had posted the EVERBANK link which does have alot of good info on foreign currencies. Everbank may be the one to deal with in this scenario. You can probably email them with your question, NENO. Click on "learn more" under WorldCurrency heading and there is a 12 page guide to foreign currency exchange and investing.Welcome to EverBank! Like I said I need help in this area also DL

Originally Posted by DinarLady

I can tell you what they just told me now on the phone from my bank that exchanges IQD. They said that I'd have to exchange into USD and then buy Euro or whatever foreign currency I wanted and that they don't hold your foreign currency in an account--that they only have USD accounts. He suggested I hold it in a safety deposit box. I had to leave a message with the foreign currency manager as he was out so I will expect a call back to get some better info about all of this and will post when I do.

Ok, I have a question now. Would one way to do this be to open a forex account and buy whatever currency you wanted on the FOREX and hold it in that form on your FOREX acct??. I am totally ignorant on this subject. I know that when I want to deposit money into my Scottrade account, that I just take a check to their downtown office and give it to the girl at the desk and within 24 hours I see my money online in my account ready to trade. Does the FOREX have an office in the major cities where you can do the same. How do you deposit money into a FOREX acct?? I guess the downfall of holding your money in that type of an account would be that you don't earn much interest?? I think having an e-gold account and holding it in gold wouldn't be a bad idea. Someone had posted the EVERBANK link which does have alot of good info on foreign currencies. Everbank may be the one to deal with in this scenario. You can probably email them with your question, NENO. Click on "learn more" under WorldCurrency heading and there is a 12 page guide to foreign currency exchange and investing.Welcome to EverBank! Like I said I need help in this area also DL

Good point,

This is what I have found as well, very few banks allow you to hold foreign currencies in accounts. There may be a few, like foreign owned banks, and these may be an option, but it depends, they will usually only allow a currency they are connected to as example. Their are Saudi owned banks in U.S. and others to consider, but overall I think it will be far to selective to consider this option.

As to your FOREX suggestion, yes, I trade FOREX and you can open accounts online, so that is an option which I already use and can hold whatever currencies I want for however long I want, and interest is earned on some currencies, so this could be an option for some. EverBank is reputable option. There are also offshore investments of foreign companies you can invest in through any brokerage in U.S., so this too is an option to look at.

Good luck to all, Mike

Off-shore wealth has given the best advise! Thank You OSW!!

Only immediate needs & taxes on same!... Than Gold & Silver, which always have value... Than ISX and New GCC- before New (USA)Elections in 2009, Price of Oil and production will have gone UP! Making Everything esle is Gravy.

H- Silverlining

Excellent topic on this thread. Thanks for starting it Neno. Very interesting and informative discussions going on. Not too investment savvy so can't really contribute. But, I like what I'm reading.

Originally Posted by Offshore-Wealth.com

Good point,

This is what I have found as well, very few banks allow you to hold foreign currencies in accounts. There may be a few, like foreign owned banks, and these may be an option, but it depends, they will usually only allow a currency they are connected to as example. Their are Saudi owned banks in U.S. and others to consider, but overall I think it will be far to selective to consider this option.

As to your FOREX suggestion, yes, I trade FOREX and you can open accounts online, so that is an option which I already use and can hold whatever currencies I want for however long I want, and interest is earned on some currencies, so this could be an option for some. EverBank is reputable option. There are also offshore investments of foreign companies you can invest in through any brokerage in U.S., so this too is an option to look at.

Good luck to all, Mike

This is what I am kinda asking. But what about the way you say Off-Shore accounts. I am wondering if lets say China or Europe, which is Off-Offshore to the US. If I had accounts there in CD's are just Interest Bearing accounts with the Yen or Euro's. Is their Banking system similar to the US in CD's and Interest bearing accounts, and, or protected?

I can tell you that a certain bank (one of the largest in the world) in Singapore will let you have accounts using 8+ foreign currencies. So, i can have 1 in yen, 1 in euro, 1 in whatever - atleast 8 major currencies are offered. Maybe US banks only let you open us dollar accounts but in places like Singapore, Taiwan, Hong Kong, or Macau, you have various choices for simple saving accounts.

OK let's say i ended up with 10 million DOLLARS after this hit. My plan is to leave the principal alone and live off of interest earned. Is this possible first of all and how much could i expect to make this way. I am scared of losing my money in investments.....Can anyone cure my anxiety?

I went to see my tax lawyer the other day and asked him about investing in something safe and living off the intrest.

He mentioned a deal I was not aware of. He told me that if I were to start a trust(?) not sure if that was the word he used. by giving the money to a college or one of the armed services I would get a return on this donation large enough to live on my entire life, and my spouses (if I had one) life then pay my kids for their lifetime. He was talking in the neighboehood of $250.000 a year on a 2 million donation. The down side was after the last of my children die all the money goes to the college or armed foces.

My lawyer said he would look into this deeper. I'll post what he comes up with.