Breitling – Dinar Guru Why are [brokers] willing to pay a lot more than they used to to buy your dinar back? They’re selling it to these guys [large currency investors] that’s why. It’s that simple…It’s hard getting money out of Iraq. It’s not easy. It would come from Iraq to Jordan to the United States. And from the banking industry in the United States it went from the [CBI] auction floor to Bank of America to Chase Bank. And that’s where I bought my currency – Chase Bank. So that’s a couple routes on how that currency gets here. But it’s dried up. That system doesn’t work anymore. So there isn’t as much dinar in the market…
BGG ~ I beg to differ with Breitling’s synopsis as to why brokers are willing to “pay a lot more” than they used to – to buy Dinar back.
It’s because THEY HAVE TO. When we (Dinar Updates / The Dinar Exchange) first got into the “Buy – Sell” market we did two things:
1) We started paying A LOT more than everyone else as a “Buy-Back” price. We still are. We currently pay $850 per million (for uncirculated). Quick turn – no gimmicks.
2) We also started selling for A LOT less than everyone else.
Our current sales price is $975 per million (shipping included).
The spreads these jokers were making on people were JUST RIDICULOUS. They were paying $500-600 on the buy side and then getting $1100-1300 on the sell side. CRAZY!!
It just wasn’t fair at all.
The real reason they are paying more – isn’t that they are “willing to”…
It’s that they HAVE TO.
If they don’t – they won’t get any and they won’t be able to compete.
It is just that simple – economics in action.
