Thread: WARNING.... U.S. Dollar Exchange Article of Interest

THANKS,MIKE I AM VERY HAPPY YOU GAVE ME YOUR FEEDBACK,AS YOU CAN SEE,I'VE JUST READ YOUR GREAT INFORMATION,I DONT COME TO THIS SITE ALOT.HOW MUCH DINARS SHOULD I BUY,AND FROM WHO?ALSO I AM TRYING TO DO FOREX(WWW.FOREXWEBTRADER.COM OR WWW.INFORMEDTRADE.COM),STOCK AND BONDS,ANY HELP FOR A STARTER WOULD BE GREATLY APPRECIATED.I HOPE YOU SEE MY REPLY(SMILE).I WILL STAY AWAY FROM REAL ESTATE.THANKS AGAIN.

mike,i much iraqi dinars should i purchase?and how do you think will do along with the vietnamase dong.i am going to start forex,i have been learning more about it.now!who is good broker to go with?thanks rob

Originally Posted by litegreen

mike,i much iraqi dinars should i purchase?and how do you think will do along with the vietnamase dong.i am going to start forex,i have been learning more about it.now!who is good broker to go with?thanks rob

Good question,

As much as you can afford, you cannot lose, so if you have any other U.S. dollar investments, bank account, whatever, I would convert all you can to dinar that you don't need liquid.

It is now not a secret the the U.S. economy is near the point of no return, and even I didn't think it would be this bad, but I warned everyone that what I was seeing was not good news. Holding dinar will be your best investment outside of gold and silver, but dump those dollars fast.

For anyone who has watched senate hearing on banking system collapse, just watch the body movements of Paulson and Bernanke, there were more ah,ah,ah,ah,umm,umm every question than ever in their history of speaking, and along with all the blinking, they are lying through their teeth, and that means things are far worse than they are disclosing. America is bankrupt, but heaven forbid they tell the truth, you know what would happen as well as I do, a run of the banks, and they don't have the money, they already lost it in their greedy sub prime fiasco.

Simply put, things will get much worse than I thought, and dollare dropped to all time lows before attempt to get other international banks to support the dollar, artificially pump it up, and it worked for a week, but now I see it dropping even further as everyone loses faith in our banking and financial markets. I thought I saw everything, but this is setting up for great depression, and I hope I am wrong.

Good luck to all, Mike

As to your question about FOREX, I would be real careful at this point in time, the markets are very unstable, and yes, you can hit a home run playing the FOREX market, but you can lose just as much the next day.

Good luck to all, Mike

Originally Posted by Offshore-Wealth.com

Interesting,

This is a well written overview on what I have been saying for sometime now, don't exchange all your dinar for dollars when time comes for restoration to normal value of dinar. Since we don't really know what normal is that they keep referring to, hold your dinar as long as you can if you are U.S. resident. This article lays it our very clearly of just what has been happening over the past few years regarding the weakness of dollar which we are all aware of if you have been watching the dinar from start.

The point is, be educated on what is happening to undermine the dollar, and then adjust your financial plans accordingly. I have followed the exhange markets for years, and have traded FOREX as well, and what we are seeing is that the dollar is under attack, and has been for many years. Once the dollar was no longer being backed by gold, it has been declining in actual value, but artificially held up by the magicians in our government, but they won't be able to pull a rabbit out their hats much longer, so read and learn, then think carefully about any exchanges for U.S. dollars.

WARNING:
( This info is giving us a Heads Up, do with it what you will. )

ROLLCLUB DINARHOLICS:

I have told you before and I tell you again: get your savings and investments away from the US dollar, for it will continue its inexorable nose-dive into oblivion. I shall feel no surprise when the US Government announces the Amero, a new North American currency, equally worthless, to replace it, within the next couple of years.

Lindsey Williams points out in his article below an echo of my warning (or is it vice versa?). Heed it.

The Condition of the Dollar
By Lindsey Williams

There is so much to touch on regarding the dollar this month, I hardly know where to start. Regardless of where I begin, the news is not good and affects all of us.

First on our list is China. They have now announced that they are refusing to accept American Corporations purchasing into their stock market any longer as they did in the past. China also said that they are no longer going to be purchasing our securities as they have in the past, including bonds and T-bills. China's decisions and subsequent announcements at the beginning of the week has sent a panic across the World's markets.

Additionally, OPEC met recently and they have also stated they will be diversifying into other currencies instead of just the American dollar. They will now begin accepting other currencies and limit the trade of oil via the American dollar.

March 21st 2007 will be one of the most significant dates this month. Iran has outlawed the American dollar and will put anyone in jail that uses it in their country after that date. They have the ominous notoriety of being the first nation in the world to do such a thing. The real issue in Iran is NOT nuclear, but rather the decision to not use the American dollar for trade and the sale of oil. On the heels of Iran's decision, North Korea has followed suit and also outlawed the use of the American dollar in their country. Finally, Malaysia the next day did the same thing.

Central banks around the world are increasingly diversifying their reserves, including cutting holdings of American dollars, according to a survey sponsored by Royal Bank of Scotland Group PLC, the U.K.'s second-largest bank. Italy, Russia, Sweden and Switzerland have made "major adjustments" in foreign-exchange holdings favoring the Euro and the British pound, according to the poll conducted by Central Banking Publications Ltd. between September and December. "Central banks are open to saying they've been diversifying to improve returns and reduce exposure to any single currency," said Sean Callow, senior currency strategist at Westpac Banking Corp. in Singapore. There's no doubt that when they say 'diversification' they mean selling dollars.

Last week a friend of mine told me they called their bank president in Vancouver, BC and he agreed with everything I have been saying about
the dollar. What amazed me the most was her comment that he told her his bank is currently making preparations for the crash of the American dollar!

My dear friends, I urge you to structure yourself and get out of the liquid dollar immediately. I suggest that you get out of stock markets and into international hard assets such as real estate, gold and other assets. Structure your family by setting up proper International Business Corporations and Foundations that will preserve your finances.


Remember this simple fact: Oil provides the US Dollar's only backing.

Why? In 1960 the formation of OPEC led the members to sell oil only for US Dollars. This forced all nations that did not use the US Dollar for currency to trade their currency for dollars in order to buy oil, and that caused a scarcity of dollars. As a result the price stayed artificially high, even though the US Congress has consistently spent more than it earned from taxes ever since. This scheme worked so well that in 1971 the US Government eliminate the gold standard.

Europeans, jealous over the oil-derived the artificially elevated value of the dollar, dreamed to unify and to create their own currency. That dream became a reality when the European Union released the Eurodollar (Euro) in January 1999. At initial trading, the Euro sold for 87 cents ($0.87).

Immediately Saddam Hussein of Iraq and Hugo Chavez of Venezuela, seeing this as the perfect opportunity to gouge America, started selling oil for Euros, partly to get even with the United States, the government of which they considered as an Evil Empire (and Hugo still does). The dollar then started its zig-zag slide into a 50% devaluation. You can see its value at http://xe.com: $1.31, its highest value ever. The Euro has risen to 150+% of its original value, in terms of the US Dollar, in just 8 years, and we must remember that the Euro has nothing of intrinsic value to back it either. Why has one fiat currency risen to 150% of a rival fiat currency in 8 years? Because of oil, and because of various Islamic countries outlawing the use of Dollars as currency.

As more countries outlaw the dollar, more banks and investors shun the dollar, and more oil producers sell oil for Euros, the dollar will decline in value, simply because people don't need or want it. As that happens, billions of circulating dollars will flood the treasury as they get traded for other currencies or US goods.

Do you see what will happen?

The purchasing power of the dollar will decline.

If you have savings, you will see them dwindle toward nothing as the months and years roll by.

What should you do?

Your smartest move in such a phase consists of putting your money into something from the earth (real estate, precious minerals) or something else that goes up as the dollar declines.

Don't take my investment advice. I am not a stock broker, real estate agent, attorney, or government agent. Seek counsel from a really qualified investments manager with international and precious minerals connections.


Richard J. Smithson Jr.


Good luck to all, Mike

Sadly, what I warned about long ago is starting to happen, the dollar is close to total callapse, and no matter what stop gap measure is used to try and save it, it is too late, dump your dollars, convert to any other currency if in savings, but don't put your money in U.S. banks, for the domino effect is already well under way starting at the top.

Good luck to all, Mike

Sadly, this is what we have to look forward to with U.S. Dollar

Thanks Mike, for keeping us up-dated on the markets.
I enjoy reading your posts.

you called out the economy problems,i have WATCHED the news and reading the newspaper.USA IS HAVING FINANCIAL PROBLEMS-BIG TIME.I DONT KNOW WHAT TO DO ABOUT MY CURRENT BANK OR CREDIT UNION.I WILL KEEP MY DINARS,I DONT HAVE MANY,BUT I WILL KEEP THEM ALONG WITH THE VIETNAMESE DONG.BUT WHAT DO YOU THINK ABOUT BUYING GOLD COINS OR BARS(CANADA,USA,SOUTH AFRICA)WHICH IS BETTER TO BUY.WHAT ABOUT THE STOCK MARKET,SHOULD ONE INVEST OR LEAVE IT ALONE AND WHO IS A GOOD BROKER.I WAS THINKING ABOUT MOVING SOUTH BECAUSE HOUSSING IN THE COST OF LIVING IS CHEAPER.WHAT IS YOU TAKE ON THAT.ALSO SHOULD I TAKE MY 401K/403 OUT INVEST IT IN SOMETHING ELSE.ANY SUGGESTIONS YOU HAVE WOULD BE GREATLY APPRECIATED IT.THANKS LITEGREEN

Originally Posted by litegreen

you called out the economy problems,i have WATCHED the news and reading the newspaper.USA IS HAVING FINANCIAL PROBLEMS-BIG TIME.I DONT KNOW WHAT TO DO ABOUT MY CURRENT BANK OR CREDIT UNION.I WILL KEEP MY DINARS,I DONT HAVE MANY,BUT I WILL KEEP THEM ALONG WITH THE VIETNAMESE DONG.BUT WHAT DO YOU THINK ABOUT BUYING GOLD COINS OR BARS(CANADA,USA,SOUTH AFRICA)WHICH IS BETTER TO BUY.WHAT ABOUT THE STOCK MARKET,SHOULD ONE INVEST OR LEAVE IT ALONE AND WHO IS A GOOD BROKER.I WAS THINKING ABOUT MOVING SOUTH BECAUSE HOUSSING IN THE COST OF LIVING IS CHEAPER.WHAT IS YOU TAKE ON THAT.ALSO SHOULD I TAKE MY 401K/403 OUT INVEST IT IN SOMETHING ELSE.ANY SUGGESTIONS YOU HAVE WOULD BE GREATLY APPRECIATED IT.THANKS LITEGREEN

Update:

No doubt we are going through a very unusual economic period where nothing is safe, and with 401K's losing half there value in many cases, I can understand you fear.

I am not offering financial advice, I simply say it as I see it, and with what I see going on, if you have liquid cash you don't need immediately, I would put more in Iraqi dinar as I see you stated you only have a small amount now. The reason I say this is obvious, we have all been waiting for years for this, and with world financial turmoil, oil always wins, and Iraq has more oil than anyone.

As we have also seen, Iraqi dinar has risen even through all these banking collapses, crazy stock market swings of 1000 plus points, it is just crazy, so unless you are an astute stock market researcher, I would not risk it at this point in time. As to who to use, I use eTrade, and I have been real pleased with them for a decade as I do my own trades.

As to gold, you cannot go wrong, and coins of any type are always safe and liquid, so yes, I would recommend gold for long term. It is down today with market rising almost 1000 points, so it is a good time to buy as it will head up again soon, so buy on these dips.

As to moving south, yes, I have to say, this would be good move for many reasons, but it also depends on your situation, do you have home to sell? If so, then it may not be a good move given banking collapse and mortgage market frozen no matter how good your credit may be. I know people with 30% down and good credit who cannot get approved on jumbo mortgage with all the banks not lending. With foreclosures going through the roof, especially in FL, if that was the south you were referring to, you can pick up some great deals if you research it, and some banks who own these properties will work with you.

As with all markets, there are winners and losers, so with depressed stocks in so many areas, you have to do your research, even I cannot figure out this market and I am day trader watching it every minute, and it is mind boggling times. Play it safe, Iraqi dinar and gold. (g)

Good luck to all, Mike

Thanks Mike.