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  1. #1
    Supporter and Investor!
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    Cool Who's Staying or Going?

    Having read the threads on Warka, could be decisions will have to be made soon.

    Ie,

    Cash out?

    Stay invested?

    Or Combo?


    Personally If they get debit card sorted I would stay as long as interest rate stay higher than current country I am in (UK).

    Guessing I could get what is out there back in interest over 5-15 years and could serve as a buffer for retirement.

    EB
    A day without laughter is a day wasted: Charlie Chaplin. :cheeky-smiley-025: :yelrotflmao:

    NO RV TODAY! MAYBE TOMMOROW! :shhh:

  2. #2
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    Hello Bob, hope you're well !

    I only recently started checking back in on this site, seems that things may be moving, but I'll believe it when I see it.

    For me, as soon as Warka are functioning again, I will be gone so fast with all of my money, you won't see me for the trail of dust behind me.

    Iraq has no future, Oil has no long term future, the whole case for investment and payoff targets should have came to fruition 5 years ago, yet here we all are, funds frozen having gone nowhere in over a decade. Cant believe that anyone would consider staying.

    So many opportunities in this world, Iraq no longer one of them. All obviously in my VHHO !!

  3. #3
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    I'll be in the same boat. If mastercards or visa cards are linked to our accounts I will use it. Possibly move some money into a CD and use that yearly interest for different things. My majority of funds are in the ISX and I am with a different broker so I am hoping when I am ready to cash out it will be through a different bank. If cards are not tied to our Warka accounts then we will have to wait and see how Warka allows us to withdraw money. I asked once if Warka would transfer funds to BBOB then Karmal to add to my ISX and did not receive a reply. Looks like Warka will hang on to our funds for as long as they can.

  4. #4
    Supporter and Investor! oldskiier's Avatar
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    I'm Done !! .... 12 years is long enough... They Screwed us big time !! ... To Sell is out and not even give a report of how many they sold or for how much .... Crooks !!!

  5. #5
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    I asked to buy shares in the upcoming subscription share sale as they will be in my good name and I figured if it helps them re-open quicker I'm all for it. I do believe the days of the 10.5% CD are gone. Maybe see 7% again but we'll see. I figure withdrawals/wire transfers, once they get the Corresponding Banks problem resolved, will have limits to prevent a mass exodus of funds. I'm hoping Warka gets their Mastercard licence back soon as that may be the best way to access our cash for awhile.

    Things are coming to a head though. General Assembly meeting coming soon and with it we'll see where things stand.

  6. #6
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    Well the renewed interest got my eye a few weeks ago, so I began looking here again to see if I could weed through the smoke and mirrors. Its been amazingly over 10 years now waiting for me as well.

    I see a few pumpers for an overnight RV still (business as usual) and a flurry of activity on the Warka web page. I have myself recently sent off work into the e-mail void for updated access and updated data from the ISX department, and I am not holding my breath on that. As it appears response time is a 50/50 chance or none at all, again business as usual.

    So what I see now is there is this general assembly meeting to occur TBD, and an upcoming nationwide general election May 12th I believe. This clown Malaki is in the wings running again, apparently he is still one of 3 or 4 current vice-presidents still? If he pulls off a win, then its all over, lights out, release the pigeons, and just might as well wallpaper the bathrooms with this stuff. Then on May 15th they all go into hibernation for this Ramadan hootenanny for 2 weeks.

    So based on all that............ I don't see much improvement after 10 years myself, and I decline to agree with the pumpers, nor would I even wager a estimate in this life time on any of this investment paying off.

    So to answer the question........... stay or go? Where can we go? Warka does not respond, you can dump what currency we may have on Ebay maybe, that's about all that any of us to do. Aside from just walking away, use it as a write off investment, or send paper work to the bank to pass down Probate data for next of kin, and hope it works out for them 30 years or so from now.
    Last edited by crazyfrank; 04-24-2018 at 01:10 AM.
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  7. #7
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    Quote Originally Posted by oldskiier View Post
    I'm Done !! .... 12 years is long enough... They Screwed us big time !! ... To Sell is out and not even give a report of how many they sold or for how much .... Crooks !!!
    It's actually not if you consider transition economics and political/security patterns in environments such as Iraq. I never expected from these investments to be a one-time short term win. It takes time and risk is enormous, meaning it is very likely we eventually won't get any return at all. Or better said, have a negative return losing everything we invested. If you want a safe and decent return, then you should better invest in S&P 500 but even there you need to be careful about short and mid-term cycles and might need to wait 12 years to get out a desired return.

    What I did I by far didn't gamble and invest all my wealth into ISX. For me that's lottery. Invested a bit and will leave it there, whatever happens happens. But of course, I don't expect to become rich out of it. No risk, no gain. But it also goes the opposite way...no risk, no loss. It's certainly a personal decision but I definitely wouldn't, didn't and won't expose a significant portion of my future pension to Iraq's volatility.
    Last edited by Virenque; 05-04-2018 at 01:31 PM.

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