Post From Wealthwatch.world Chat Room 8-7-15
Wealthwatch Late Morning Chat 8-7-15
Fit2beFit: I've checked around, and unless I've missed someone, there are no dealers left who are selling reserves. What I'm wondering is.... Since it appears that reserves were being sold illegally (for whatever reason; lack of proper registration, etc.), it only follows that anyone who is holding currency purchased through a reserve program could very well end up have it confiscated.
Fit2beFit: Wouldn't that currency be considered evidence in the dealers court proceedings?
Doug_W: because it never changed hands
ajay214: unless they could prove what bills you received for that specific purchase, they could not confiscate it
Doug_W: but it would have had to change hands 4 that AJ
ajay214: ‹@Doug_W› correct - I was meaning if you let it expire and they send you the 100K or whatever - they would have to prove what you got form a reserve and otherwise - it would never happen
Fit2beFit: Never say never in this investment :silly:
ajay214: I can say they will never get mine!
ajay214: because I never bought reserves
Fit2beFit: ‹@ajay214› Prove it. Send me them all so I can double check you. :silly: :sideways: :silly:
ajay214: oh ok then - where do I send it lol
Fit2beFit: ‹@ajay214› Donald Trump The Trump Organization 725 5th Avenue New York, NY 10022 USA
ajay214: think he needs my money lol
Doug_W: totally AJ
Doug_W: ok back to Nascar practice now
ajay214: I think he spends far more on suits than I make a year
Fit2beFit: ‹@ajay214› Yes, For Hair Club for Men
ajay214: ‹@Fit2beFit› lol
BOBBY: afternoon all
Fit2beFit: Any thoughts on this..... Not only were they sold illegally, they were purchased illegally. The buyers would not have been qualified thru the Regulation-D guidelines. Here is a link: www.ecfr.gov/cgi-bin/retr... So, they could be confiscated, evidence or not.
Tootsie: That applies to commodities and security exchanges, and none of the "broker/dealers" we delt with were security/commodity companies.
Fit2beFit: ‹@Tootsie› So you know for a fact its not illegal
Tootsie: They were just licensed money handlers. Heck, they would have to stop selling currency at airports and other vendors = That is precisely why they do not / are not capital gains. only NASDAQ etc are eligible for short term/long term capital gains.
Fit2beFit: ‹@Tootsie› The subject is RESERVES
Tootsie: Banks were selling (they are not NASDAQ)
Fit2beFit: ‹@Tootsie› The subject is RESERVES
Tootsie: I don't think it matters, not commodities/ or securities
Tootsie: which is what this is ~~ Title 17 → Chapter II → Part 230 → §230.501 Browse Previous | Browse Next Title 17: Commodity and Securities Exchanges PART 230—GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933
Tootsie: we will see, when ~~ just wish would get over with , been tooooo danged long
Dianne777: ‹@Tootsie› amen and AMEN!!!!
BOBBY: Tootsie...... question for you... whats your thoughts on seeing an end tovthis? sooner or later?
Tootsie: As used in Regulation D (§230.500 et seq. of this chapter), the following terms shall have the meaning indicated: (a) Accredited investor. Accredited investor shall mean any person who comes within any of the following categories, or who the issuer reasonably believes comes within any of the following categories, at the time of the sale of the securities to that person:~~~ IQD is not a security and we are not considered "investors" clearly
Tootsie: ‹@BOBBY› ohhhh, man~! have no clue
BOBBY: tootsie. .... opinion? ???
Tootsie: reserves are not securities either , not NASDAQ etc. Heck currency traders don't even fall under such
Fit2beFit: Where does is it state about reserves thou?
Tootsie: ‹@BOBBY› I fear we may be a bit away
BOBBY: Tootsie... i agree 100 percent
Tootsie: ‹@Fit2beFit› you are thinking stock/bond type 'investment' one can't purchase bond /stocks on a 'reserve/laway program' they can purchase shares through NASDAQ broker in companies etc.
Fit2beFit: ‹@Tootsie› So you stating, it states that the reserves are legal, were legal for them to do,...please show me that
Tootsie: no I am not saying that , not at all, just that the dinar does not fall into the category (or the dealers/banks that sold it) if commodities and securities exchanges
Fit2beFit: ‹@Tootsie› That does not follow into the category of them doing the "reserve business", does it?
Tootsie: which is what the referenced laws/acts is.
Fit2beFit: Ok where does it reference them able to do, sell, promote reserves?
Tootsie: they are NOT securities exchange/commodity agents/ ~~ so so so they don't fall into that act. they are not connected in any way/shape/form with the stock trading oil trading, gold etc.
Fit2beFit: Which means there is no proof about "selling reserves" legal or nonlegal under their license type ANYWHERE
Tootsie: ‹@Fit2beFit› Idon't see where the confusion lies. They are just people like you and I who started a money exchange business ~ not an investment business. so that act does not apply to them , the iqd dealers. I do not know for positive what (as I did not finish reading/studying the charges) , that deams them illegal, just that the quoted commodities act is not what covers such.
Tootsie: ‹@Fit2beFit› have to read the charges to see what they are discussing (in case) many endeavors they DC, participated in, monex ~ interestingly, the charges stated apply to most of them (dealers/money exchangers: ouch!
Tootsie: fbi ones
Fit2beFit: Reserves, after researching it and read so much into it, I believe will come down to illegal to either their license type, possession of enough to cover it and im sure alot more
Tootsie: ‹@Fit2beFit› they sure made a hunk of bucks with such, all of them!
Fit2beFit: Either way, its just keeps getting interesting
BOBBY: Tootsie. .... are you discussing the various reserve programs?
Tootsie: ‹@BOBBY› guess so ~
Tootsie: well, nap time - Days of Our Lives hahaha and a sammich ~ sure fire way to get 1/2 hr snooze hahaha. Enjoy – bye
BOBBY: judging by membership numbers on here i believe many are landing here
Fit2beFit: Everyone should have their right to state their feelings on this investment, its future, etc etc
BOBBY: Fit2befit... agreed..... i dont see any hinderence of that here
Fit2beFit: ‹@BOBBY› Amen