Ok, so im cleaning out a closet last night and what do i come across?? 2 Million in iraqi Dinar..LOL…I bought them 7 years ago thinking i would become a millionaire…Yes, pathetic i know….Anyway, the website i bought them from, safedinar.com, currently has a buy price of about $850 per million so i can sell them right now for about $1700…Should i sell them and grab 50 oz’s of silver, invest it elsewhere…etc.. or just hold on to it?? Of course i know the chances of the dinar getting revalued is about a gazillion to 1 but Im thinking since they were sitting in a closet for 7 years and i had forgotton about them anyway, i mind as well just throw them back in the closet for another 7 years and see what happens…Any thoughts?? As always, your input is greatly appreciated…Thanks in advance
If I were you, then I would use them to buy some gold since buying an ounce of it at once is very hard because it is expensive. As for silver, it is very easy to buy it fast especially when it is at about 32.25$ per ounce. So, I would recommend you to get rid of all paper currencies because they will lose values overtime due to inflation. Also, congratulation at finding two millions lol!
After the re-Val, your 2 million becomes 2 Thousand, but SAME VALUE ($1700 USD) Provided the currencies do not move relative to one another. Further obstacles to a big gain, is that the IQD is currently 100% backed by ~$67Billion USD. So, appreciation against the USD is unlikely, until other “world monies” start pouring into Iraq.
If it went back near where it was before, relative to USD, you might get about $5000 for your 2 Million IQD.
And, I also predict that there will be a “window of opportunity” to redeem the Big Zeros (IQD) for the No Zeros (IQD) so I would sell them now, and buy Silver or something else of value. Like (G&A) lol! Guns and Ammunition.
Here’s an idea for you. If it really is found money and you really don’t care, buy a 3X levered ETN like USLV. Catch the silver moonshot and before the system crashes cash out and get into a hard asset. Don’t try to catch the entire moonshot. Get out 80% from the top while the getting is good. Timing will be tricky. But, since it’s found money what’s the worse that can happen. Just a crazy thought from an old dog.
Currently, I have no more cash to spend on enhancing my stack. However, if I happened to find a ‘windfall’ at the back of a wardrobe, I would spend it on a readymade portfolio of junior miners, such as one of the mining ETFs that have been lagging of late. When gold and silver do take off, I would expect the junior miners to go crazy. Rick Rule isn’t an idiot.
Buying an ETF spreads the risk over a number of junior producers in a number of different countries. If I had a couple of grand right now to play with, that’s where I would be playing.
Hardcore stackers may disagree with me, but I believe it doesn’t hurt to diversify a little.
I agree with everything you said, except for 1 point. Lazer sights. They work wonderfully, however there is a side effect, the lazer pinpoints your position. It`s a two way street. Back in the day, the ... "Reply To: Finger off the trigger? Nonsense….
" I'm a fan of the finger-off -the -trigger until ready to shoot school. That said, I may not be fast but I am sudden and sudden works just fine
On a mediocre day I can end up looking like the one legged monkey in the hammock trying to have sex with a saxaphone. Since I'm pretty nutzo when it ... "Reply To: Finger off the trigger? Nonsense….
" Nice MaryB I like the green tip 62 gr and some of the heftier grained rounds. 5.56 ups the ante too
The Reno Gun show had ammo prices down maybe 5-10% and plenty of everything available. I didn't find any weaps that turned me on
The Saiga and VEPR have gone from $700 to $1,500 in the la... "Reply To: Real world firearms suggestions
" I don`t even tell people when I have $200.00 fiat in my pocket, let alone where my stash is.
And that brings up another well worn subject, what do you do with it. You people talked me out of my 3 safety deposit box`s. Now it`s rat holed near by. And I don`t like it. I`m not comfortable. I know... "Reply To: Silver Shortage
" Right Xizang that's definitely likely. Have your big local stash very well hidden and tell only a few trusted people to get it if something happens to you.
If you've already told people about gold/silver maybe you should keep a small available stash in case of this scenario of you believe its ... "Reply To: Silver Shortage
" One other thing, boys and girls: Do NOT tell anyone you have any gold or silver. Chances are when all hell breaks loose, the government will be demanding everyone turn in all their gold and silver (probably in exchange for some sort of government paper IOUs).
When that happens, g... "Reply To: Silver Shortage
" Interesting video. Similar to the other one's I've watched over the last 3 years.
Looks like my idea of 90% and SAE's only is the way to go. It does have me thinking about some 10oz bars....wait, no.
And, this is all nice - but if the Ag market freaks out there's oth... "Reply To: Silver Shortage
" I dunno..... Look at ALL the sites selling the stuff and there's PLENTY to be had. Worrying about the doom of some article is silly. Get the stuff now, as you can, and just keep going.
IF things do go nuts I have a hunch it'll be so fast this time that it won't matter what order ... "Reply To: Silver Shortage
" The one CRITICAL thing is to make damned certain that the party you're shooting at is not your spouse, kid or anyone else who has a right to be there. That cleared in your brain, fire away! Have no mercy and take no prisoners. Prisoners will just sue you later. "Reply To: Finger off the trigger? Nonsense….
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