From Virginia Gentleman VELOCITY OF MONEY
I know I don't have to state the obvious...GO HAVE FUN WITH SOME OF YOUR NEW FOUND WEALTH. However, I would like to pass on some words of wisdom.
As we get ready to punch it in, please remember to act like you've been in the End Zone before. Take a deep breath and exhale slowly as you collect yourself with the full intentions of acting with class and integrity.
Respectful treatment of others will be an inherent responsibility of your new status, as well as respectful treatment of your money and assets. You owe this to yourself, your family, your neighbors, and your heirs.
Don't hoard it, and on the other hand, don't waste it or give it all away. Save, invest, and spend wisely.
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Jester’s Place:
[JESTER] HELLO AND HAPPY TUESDAY EARLY BIRDS...
[mentoredlife] Jester, I was reading earlier about how Turkey's currency has dropped nearly a third in the last week. With all the global banks being so inter-connected do you see that causing a problem for other nations or major banks?
[JESTER] mentoredlife WELL I HAVE THE REDWOLF ON THAT ONE... WE THINK IT IS THE START OF REVALUING WEAK CURRENCIES WITH LITTLE GOLD OR ASSET SUPPORT... THERE ARE OTHERS GOING ON RIGHT NOW JUST NOT AS PROLIFIC...
[JESTER] THE OPERATIVE WORKING THINKING IS THAT THINGS ARE MOVING ALONG USING OTHER EXCUSES FOR SMOKE SCREEN...
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KTFA:
StephenMac63: (IRAN) WITH REGARD TO EARLIER ARTICLES... IMO
This will work in the interm, imo, heres why..... we know the rial is garbage as it holds no real value so they use other currencies instead to continue trade with Iraq because of the sanctions regarding the USD. This is fine to a point. But there are other ways to do commerce with something of value in addition to using foreign currency.
If the Iranian Rial is garbage, how are they going to buy foreign currency? No country will want the Rial. The foreign currency that Iran government does have will be mostly be in............the reserves.
This means Iran will have to deplete the reserves of foreign currency. There is only a finite number of that in reserves until it runs out.....then what?
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