Thread: Rates, Dates, & Fates.

OS what is your take on this and what desert wolf is saying

Originally Posted by dinartank

This is nothing but an opinion piece for one. Secondly i was never official on record of the drop. It may be true that the market rate on the street was ok 10 cents... well ok the bank rates never droped. So what your saying is if I was there and picked up KWD for 10 cent on the dollar I could fly say to jordon the same day and cash in for over 3$ cause thats what the interbank rate was. I dunno it just dosent make sense cause everyone would be doing it... it could be a posibilty...but for this joker to say it was at $8 at one point is a joke seriously.

I was there for all 3 phases of Desert Storm, and I never heard a single word about what was happening with the Kuwaiti dinar. I never knew about it til I found out about the IQD. and started reading the forums.

Thanks for this...boots on the ground and nothing to substantiate this supposed Kuwait resurgence in dinar value...i would rather believe someone who has been through it rather than an assumption based on hearsay...

Originally Posted by ronbo

I was there for all 3 phases of Desert Storm, and I never heard a single word about what was happening with the Kuwaiti dinar. I never knew about it til I found out about the IQD. and started reading the forums.

A young 2nd lieutenant came running up to General Custer at the Little Bighorn in a fit of panic and cried out, “General, there’s Injins to the right of us! Injins to the left of us! General we’re completely surrounded!” Comely the General slapped the kid on the shoulder and said, “Don’t worry son, they aint going to get away from us this time”!

Dinartank

There are many good clinics with qualified and trained personal that you can find help in the field of anger management. Your limited if not total lack of experience in this subject leaves you totally unarmed to continue your attacks that are groundless. As such I will not take advantage of an unarmed person. You only want a fight and to argue, NOT debate. I see no positive outcome in feeding your anger over a case that you CAN NOT win!

As for the stats you have offered, they do not tell the whole story and do not apply in my friend’s case. Now if you’re upset because he made a killing in the RV of the Kuwaiti Dinar, get a life. Want to get even, BUY IQD and wait like the rest of us for the RV and make your killing. If you are only a naysayer or your liberal views of wealth upset you, then build a bridge and get over it!

“Case closed. Bailiff, next case on the docket”!

DesertWolf

Originally Posted by dinartank

OS what is your take on this and what desert wolf is saying

Interesting,

There are many I know personally who did well, not $75M well, but multi millionaires, which was not bad almost 17 years ago. I am not complaining on what I made, but it does hurt to know what I could have made if I pulled out all the corks and invested more, but hey, that is why we are all hear now, for I was not going to let another opportunity slip by with Iraqi dinar.

I followed it from associates, so I was not onground in Kuwait at the time, but I had many friends and business associates whe were, so I got first hand feedback as we all had invested, and yes, it did bottom at a dime on the street as everyone feared it would be worthless with invasion and conversion to Iraqi dinar. Funny to think back and now see a total opposite scenario and old Iraqi dinar is the one now worthless. I personally never heard of higher than $4.00, so if someone paid $7.50 per dinar, I missed this boat. (g)

Good luck and health to all, Mike

Originally Posted by neno

The Kuwait Dinar is up to around $4 now.

Currency Conversion ResultsSymbolU.S. DollarExchange
RateKuwaiti DinarBidAskUSDKWD=X1Jun 210.28810.28810.28810.2896 Add to Portfolio Set Alert Download Data

ACCORDING to yahoo finance, it is still around 3.47

The IQD RV may cause an unexpected jump in the inflation rates as related to the fees charged by Tax Attorneys, Accountants, Money Management Services, and other related needs for those of us that on the team.

One may wish to have they Accountant and/or Tax Attorney under contract before the RV!

DesertWolf

Originally Posted by DesertWolf

The IQD RV may cause an unexpected jump in the inflation rates as related to the fees charged by Tax Attorneys, Accountants, Money Management Services, and other related needs for those of us that on the team.

One may wish to have they Accountant and/or Tax Attorney under contract before the RV!

DesertWolf

ahhh but why do you need to disclose the full extent of your hoard to a tax liar? they get a hourly rate to give you advice, which you can heed or not. Regarding money management, i agree you may take a hit there, but isnt their percentage negotiable as well before you pull the trigger and hire them?

Originally Posted by crave681

ahhh but why do you need to disclose the full extent of your hoard to a tax liar? they get a hourly rate to give you advice, which you can heed or not. Regarding money management, i agree you may take a hit there, but isnt their percentage negotiable as well before you pull the trigger and hire them?

Most managed accounts are done by computer once it's set up. You will normally pay a wrap fee of .5 to 1% and If your brokerage is a lowlife they'll put you in C shares so they can make additional hidden fees. These are regulated fees and there won't be any big jump. A managed account might be helpful to you if you're planning on investing heavily in equities and equity funds, but if you're planning on investing in conservative income producing securities then the fees are a complete waste. If it is a performance fee you can most likely negotiate it. Either way it's highly unlikely there will be a sudden increase in costs.

Originally Posted by DesertWolf

The IQD RV may cause an unexpected jump in the inflation rates as related to the fees charged by Tax Attorneys, Accountants, Money Management Services, and other related needs for those of us that on the team.

One may wish to have they Accountant and/or Tax Attorney under contract before the RV!

DesertWolf

Bull. If they did that every time money walked in the door, they'd put themselves out of business real quick. Additionally, that type of planning varies with the amount of wealth in question and the various options utilized. To ask a professional to 'lock' a fee rate because of 'possible' future wealth management would only more fully disclose that you have no experience with these types of money matters.

Those who lack experience will need to CAREFULLY choose a team that includes an attorney, estate planner, financial planner and CPA. You will want to make sure they are honest, reputable and have YOUR best interests in mind. I would also suggest an attitude of zero or low risk in whatever you do with your newfound wealth.