Rissas Dad: Now, I suppose the dinar could rise in value over time as I do believe still, and these comments about the "scam" is toward an overnight RV where we all get rich.
This obviously is an outright lie created to get us to buy dinar and keep buying it believing we will miss out if we dont. I'm not giving up as its money spent already, but there is no way to spin this and imply there will be an RV. These comments were made inside sterling between employees and owners.
Its also part of a federal indictment, its not smoke or PTB weaving a tale to keep us in the dark or blinded to a "soon" RV. I'm still hopefull that one day we can make some money off of this thing, but to me this is a major blow to any substantial wealth being gained from it.
Oldwazhisname: Before this gets too far off topic on side issues, let me make the point that what the FBI is saying isn't an "opinion". There is no room for that when charges are made.
Of course they have to prove their charges, but in the overall weight of this matter, this is the proverbial "smoking gun" in their case. There may be more that comes out; usually is.
But the fact that they are asking for people who have bought dinar to fill out a reporting form that will surely will become the basis for further investigation is very ominous.
And if they conclude that too many people have been dupped by "paid" gurus (from whatever source and however paid), the "fugits will hit the windmill" in this community.
As of today, no one should be decieved any longer unless they choose to be. All guru intel is highly suspect and should not be blindly believed.
There are a lot of people who are in this because they have believed what the gurus have said and are desperate enough to cling to that hope. Its really sad for them.
When I think of the number of obviously little old ladies that called into some of these conference calls...(shakes his head in disgust). Whatever happens to the criminally minded who were involved, their punishment can't be severe enough.
Tlar: This is not about what they were selling but more about their using the likes of XXXXX to promote their product by telling what he knew to be outright lies about this investment.
XXXXXX was a undisclosed representative on the payroll and appeared to many on his site to be arms length and unbiased while being paid by sterling to hawk and pump Sterlings product to his followers.
The government wants this operation closed as well it should be. This is a serious charge and will most likely be seen by the courts as a scam operation and will probably end up in seizure of the assets from this operation as the FBI wants. Whoever mentioned "insider trading" is as close as you can get.
The scam they are talking about is not the physical dinar itself but the system Sterling used to increase its sales. Any mention of scam by the owner of Sterling is just an opinion by them. Part of getting a currency sales license from the Treasury requires that a seller of currencies does just that.
He can legally advertise and promote his business but he cannot secretly have goons on the payroll telling what that goon knows to be phony rumors or lies to unwitting investors.
That is wrong and that should be dealt with. Sterling new what they were doing was not just a bad business practice but it was illegal as it broke a fiduciary law and violated their currency license.
Personally as far as I am concerned I pay more attention to Iraq than this crooked operation or their principals opinions. It is Iraq's currency that we own. Iraq is a sovereign country and not part of the US.
Ultimately Iraq will decide its own fate as to the value of their currency. Unless everything has changed, they have told us in the past that they want to add value and purchase power to their currency.
They have a delete the zero program if they ever will want to institute it. We as individuals have to decide for ourselves whether we think the currency will go up or down.
We are no different than any other currency speculator. Nothing you or I have done is illegal and the dinar is not a scam, but rather some including Sterling, have chosen it to use in a scam for personal gain.
Any product can be used as the center focal point of a scam including gold and silver. To me nothing has changed. We wait patiently for Iraq to fix itself and help its citizens in the hopes that we too may complete the dream that George Bush had for Iraq when he allowed us to individually invest in this currency.
When the then seated President of the United States allowed us to buy a US Treasury OFAC listed currency from a country under Chapter VII sanctions , directly from the big banks here in the US.
I bought alot from Chase and Bank of America. If it is a scam or if it ever proves to be a scam, the person who ought to be sued should be our Federal Government. The dinar itself is not a scam, albeit some bought their dinar by being scammed by guys like the owners of Sterling. opinion only, tlar
Fred: For what it's worth. I bought my first dinar just before I went to Iraq. (Jan '05) I paid around 1450 to 1 for most of it. It is now around 1170 to 1 depending on who you Talk to. I have always believed the dinar would be worth much more someday.
I never spent more on it than I could afford to lose, as should anyone. In the beginning I told myself that I wasn't going to even think about it for 10 years. Then Mrs Fred started looking at CC and I got caught up in it too. It has been 10 years and I have not changed my mind.
Iraq has made great strides toward becoming a safe and prosperous society. Are they there yet? Heck no. They are now the number 2 supplier of crude in the oil rich Middle East. That says something.
Am I telling you to buy more dinar? Heck no. But if you had a couple thousand to gamble on an "investment" there are many riskier ways to do it than dinar. (I won't be purchasing any more)
If I sold mine today I would make a profit. What about tomorrow? Who knows. But I am in it for the long haul. There is one thing that does concern me, and that is if they change the currency again.
I have always wondered how much trouble it would be to change out my "old" for new. I don't think it will be a problem, but I might have to fly to suly to exchange it...