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Sunday, May 27, 2018

"Why hasn't the Supply of IQD Stopped?" by Still Waiting in Florida - 5.26.18

Entry Submitted by Still Waiting in Florida at 11:13 PM EDT on May 26, 2018

I need to harness the brain-power of this forum to help me understand what is going on.

I've been in this investment for about 8 years now. At first, I bought my currency through a bank. I then graduated to buying reserves (MISTAKE!!!!).

In the past 4 or 5 years, I have been buying medium to small amounts of currency through Ebay. There is a remote possibility that some of the notes I have purchased over time are counterfeit. It's hard to believe that someone would sell a quantity of bad notes on Ebay for any length of time. These sellers would be facing some very serious jail time as they would be selling a counterfeit item and then shipping it across State lines. At the very least, Paypal would get their accounts frozen and call the Feds.

What has me confused is that I expected the sale price of Dinar to go through the roof. All indications from our Internet sources and from the media that reports on Iraq tell us that the timing is very close. We have heard that the supply of Dinar should be dropping dramatically because the Central Bank of Iraq is no longer distributing the larger notes. Iraqi citizens and those holding Dinar in neighboring countries would be foolish to sell their three zero notes this close to an RI/RV.

So. . . . . .where are the notes that are listed on Ebay coming from? I see some small amounts of currency placed for sale from China, Egypt, Singapore, Portugal, Spain and even the Ukraine. I don't see sellers from Jordan, Kuwait, or other Iraq neighbors. The vast majority of auctions are based in North America.

Many of the currency auctions insist that their product has been authenticated and is in uncirculated condition. One auction I looked at this evening is from a well rated seller in Georgia and they are offering 100,000 Dinar for $114 or best offer; shipping is included.

I just can't figure why someone would sell an item that they are clearing $20 (at most) on when they could hold it for a bonanza. Also, why such a low price when the supply of Dinar is supposed to be drying up?

What am I missing? Anybody got any ideas where the gaps in my logic are?

Thanks to the staff of Dinar Chronicles; always interesting posts.

Still Waiting in Florida

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