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TBnhispower

By TBnhispower,
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TBnhispower Newbie

TBnhispower

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OK, so this is my first post. I fully admit to not knowing much, and not even knowing where to look to educate myself, so I need help from those who know about economic procedures. Honestly, this post frightens me and I would like to hear an educated discussion on the following post. I have had a similar discussion with my bank manager, so I figure it's probably a true story. If you don't have it in you to handle a possible negative about this investment, just skip this and go to the next one. Thanks you in advance for your consideration.

HERE IT IS:

Well - I have been keeping this under my hat - but I spoke with the Senior VP of Wells Fargo Foreign Exchange (FX) a few weeks ago. I was able to speak to a SENIOR person in FX because I am part of the Wells Fargo "Private Banking" Division. He told me that they had a big meeting on IQD and after doing extensive research they decided to advise all of their cliens to turn in their

IQD for USD ASAP and get OUT while we can still recover any of our investment -- that even if one had bought legitimate currency (not the old Saddam currency) it would be DECADES, if ever, before it could become a globally-traded currency. He sent me links to articles about the Chinese Yuan and how the Chinese have been trying for decades to make their currency global but even though they are one of the strongest economies in the world right now - the macro-economic procedures are not in place. He also mentioned Argentina - and their huge oil reserves, but because of instability in the country (not even a shadow of the instability in Iraq) they also have not been able to go global with their currency.

He continued to say that EVEN IF there is a revaluation to the former rate (where it was under Saddam) - it will be an INTERNAL RV, and none of us outside of Iraq will be able to benefit from it.

I was quite upset and disappointed after the call but I continue to hold my investment - at least until sometime early next year. If nothing happens by then - I think that I will take my losses and convert back to USD. This man was at the top of the FX office and he told me that if there was even a shred of hope for IQD to RV and make WF clients wealthy - they would NEVER tell them all to SELL because they knew they would lose all of their accounts! But after many meetings with multiple banking officials and global financial leaders - they came to the collective expert opinion that it simply cannot happen.

If anyone wants to talk to this person, and is a member of WF Private Banking - ask to speak to the head of the FX office and get ready to be as depressed as i have been since I spoke to him.

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TBnhispower
TBnhispower

OK, so this is my first post. I fully admit to not knowing much, and not even knowing where to look to educate myself, so I need help from those who know about economic procedures. Honestly, this p

keepmwlknfny
keepmwlknfny

Its not about an in country RV....its about you not being able to exchange your dinar for USD outside the country....From what I read about the Kuwait situation, you were only able to exchange the kuw

BBALL99 Newbie

BBALL99

Posted
Posted

OK, so this is my first post. I fully admit to not knowing much, and not even knowing where to look to educate myself, so I need help from those who know about economic procedures. Honestly, this post frightens me and I would like to hear an educated discussion on the following post. I have had a similar discussion with my bank manager, so I figure it's probably a true story. If you don't have it in you to handle a possible negative about this investment, just skip this and go to the next one. Thanks you in advance for your consideration.

HERE IT IS:

Well - I have been keeping this under my hat - but I spoke with the Senior VP of Wells Fargo Foreign Exchange (FX) a few weeks ago. I was able to speak to a SENIOR person in FX because I am part of the Wells Fargo "Private Banking" Division. He told me that they had a big meeting on IQD and after doing extensive research they decided to advise all of their cliens to turn in their

IQD for USD ASAP and get OUT while we can still recover any of our investment -- that even if one had bought legitimate currency (not the old Saddam currency) it would be DECADES, if ever, before it could become a globally-traded currency. He sent me links to articles about the Chinese Yuan and how the Chinese have been trying for decades to make their currency global but even though they are one of the strongest economies in the world right now - the macro-economic procedures are not in place. He also mentioned Argentina - and their huge oil reserves, but because of instability in the country (not even a shadow of the instability in Iraq) they also have not been able to go global with their currency.

He continued to say that EVEN IF there is a revaluation to the former rate (where it was under Saddam) - it will be an INTERNAL RV, and none of us outside of Iraq will be able to benefit from it.

I was quite upset and disappointed after the call but I continue to hold my investment - at least until sometime early next year. If nothing happens by then - I think that I will take my losses and convert back to USD. This man was at the top of the FX office and he told me that if there was even a shred of hope for IQD to RV and make WF clients wealthy - they would NEVER tell them all to SELL because they knew they would lose all of their accounts! But after many meetings with multiple banking officials and global financial leaders - they came to the collective expert opinion that it simply cannot happen.

If anyone wants to talk to this person, and is a member of WF Private Banking - ask to speak to the head of the FX office and get ready to be as depressed as i have been since I spoke to him.

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I think you should Sell and get out as quick as you can.

Most banks don't seem to want their employees to know

about this investment. Just imagine if their employees knew the truth

about was is about to happen they could lose 90% of their

employees overnight, so they must keep this secret in the bag.

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keepmwlknfny Newbie

keepmwlknfny

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That is IMPOSSIBLE anyways. You cannot value your currency IN country and not out country. Currency is currency. Swiss franc is worth the same in switzerland or outside it. There is no such thing as an IN country RV.

Its not about an in country RV....its about you not being able to exchange your dinar for USD outside the country....From what I read about the Kuwait situation, you were only able to exchange the kuwait dinar if you were in country or if you had bank accounts within the United Emirates....the value os recognized, but the currency might not be accepted everywhere still.....I dont really like what I just read.....definately quieted me down a little......hmmmm........outlook not so good......russia did the same thing......Im gonna have to sit back and think about this one.....

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Yogi-Donnie Newbie

Yogi-Donnie

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Its not about an in country RV....its about you not being able to exchange your dinar for USD outside the country....From what I read about the Kuwait situation, you were only able to exchange the kuwait dinar if you were in country or if you had bank accounts within the United Emirates....the value os recognized, but the currency might not be accepted everywhere still.....I dont really like what I just read.....definately quieted me down a little......hmmmm........outlook not so good......russia did the same thing......Im gonna have to sit back and think about this one.....

But if your 1 million IQD becomes equal to 1 million USD, and you could not cash it in outside Iraq, wouldn't you (or couldn't you) just fly to Iraq, set up an account, cash in, and live happy sappy every after? If someone told me all I had to do was catch a flight to BFEsomewhereselse and I would make millions of dollars, guess what I would do! However that is just me. Or is that not possible?

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Nova Newbie

Nova

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Couple of thoughts on this post...... it correlates with some of the other rumors that we saw in the last couple of weeks from folks who went to wells fargo and were told that IQD is a scam..... something about the tellers receiving an email to that effect.......

This could be excellent disinformation program, convince a few of the top banks to tell there folks to get out....... would be a rather effecient way to go about it......

We need to settle the question..... Did the former administration develope a plan and put it in place..... if so then it probably is still moving ahead....... either there was a plan all along or there wasn't..... if there never was a plan we have just been sucked into a giant hoax.

I see to much of the elephant don't tell me there is not one there..... most of it is still just behind the curtian.

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Jac Newbie

Jac

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If very possible newbie that someone high up wants to buy your Dinarlaugh.gif or perhaps FX is $@$#% using profanity because too many people opted for paper currency (IQD) instead of buying it electronically through FX. Whoever began this Rumor truly is liable for giving you false informaton. In fact I think you should probably file a lawsuit against him. Also, report him to the CPSClaugh.gif that will put him in the news alright and under government scrutiny to be sure. Not to mention how much CBI and Iraq could benefit by such a lawsuit on their own behalf. Good luck to you when you benefit by the forthcoming RV.biggrin.gif

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kingcamera82 Newbie

kingcamera82

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Its not about an in country RV....its about you not being able to exchange your dinar for USD outside the country....From what I read about the Kuwait situation, you were only able to exchange the kuwait dinar if you were in country or if you had bank accounts within the United Emirates....the value os recognized, but the currency might not be accepted everywhere still.....I dont really like what I just read.....definately quieted me down a little......hmmmm........outlook not so good......russia did the same thing......Im gonna have to sit back and think about this one.....

i agree keepm...this rumor holds more water than the rest...i will say this though...if they do an in country rv i think we should still be able to cash out through ali because he does or will have a bank in iraq and he can be the middle man to exchange and not banks...what do you think? dv members plz dont put a blind eye to rumors that are not good news...ANYTHING can happen with this investment and bottom line i think we can all agree that iraq will do whats best for them and they do not care what is going on outside their country.....they have something everybody needs....oil....so they have the upper hand in my opinion....lets focus and see what happens.

I think you should Sell and get out as quick as you can.

Most banks don't seem to want their employees to know

about this investment. Just imagine if their employees knew the truth

about was is about to happen they could lose 90% of their

employees overnight, so they must keep this secret in the bag.

lol its not that hard to train bank tellers...plus with the amount of unemployment in this country if the bank employess quit it just makes openings for new employees who need a job.

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sassyk Newbie

sassyk

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Wasn't Wells Fargo selling dinar---if so --then that means they were part of the scam---just a thought---to much at steak---for this to be the case---how would that pay for the war--not to mention the world economy -- Just don't take everything you read as" gospel"-----because it's not----keep the faith--this is a God thing and it will happen --and when it does just make sure you remember where the blessing came from----

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TBnhispower Newbie

TBnhispower

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Its not about an in country RV....its about you not being able to exchange your dinar for USD outside the country....From what I read about the Kuwait situation, you were only able to exchange the kuwait dinar if you were in country or if you had bank accounts within the United Emirates....the value os recognized, but the currency might not be accepted everywhere still.....I dont really like what I just read.....definately quieted me down a little......hmmmm........outlook not so good......russia did the same thing......Im gonna have to sit back and think about this one.....

Keep, I'm not trying to be doom and gloom, just concerned for those who have invested too much. I have read a lot of your posts because I can see you think about this,. It concerns me that so many have just made a decision to believe no matter what. I still have hope, but continue to look for truth. I guess I am more sceptical than I once was. Go RV!

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kingcamera82 Newbie

kingcamera82

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Wasn't Wells Fargo selling dinar---if so --then that means they were part of the scam---just a thought---to much at steak---for this to be the case---how would that pay for the war--not to mention the world economy -- Just don't take everything you read as" gospel"-----because it's not----keep the faith--this is a God thing and it will happen --and when it does just make sure you remember where the blessing came from----

excuse me but god has nothing to do with blessing this investment...how about all the soldiers and marines that fought or died over there to make this possible...thats where the blessing will come from and im proud to say i am someone who fought over there so leave god out of this....also this post said nothing about a scam...it stated that it will take a long time for it to go up in value.

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TBnhispower Newbie

TBnhispower

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TBnhispower, if we get to the 1st of the year without an RV, and you still want to sell your dinar, let me know. I'll give you $10/million over what Ali will give you:)

honeybee, not planning to sell just in case, but am concerned for those who have invested too much. I admit to being skeptical, but I think we should all be just a wee bit.

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DCupp Newbie

DCupp

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Its not about an in country RV....its about you not being able to exchange your dinar for USD outside the country....From what I read about the Kuwait situation, you were only able to exchange the kuwait dinar if you were in country or if you had bank accounts within the United Emirates....the value os recognized, but the currency might not be accepted everywhere still.....I dont really like what I just read.....definately quieted me down a little......hmmmm........outlook not so good......russia did the same thing......Im gonna have to sit back and think about this one.....

Very well said. I dont think alot of people realize that Kuwait and Russia both did this with there currency. People need to look at both sides of this investment and realize that it can RV and make them rich or it can NOT RV..... Believe me when I tell you that I pray every day for a RV. I want this as bad as the next guy, but just dont want to be blinded by the side that could fulfil my dreams. I mean I hope that some how if this was the way it all went down that we could fly to Iraq and trade our money in that way. Just keep faith but also keep grounded. We will know how it all turns out eventually. I will put in a call to WF myself and maybe a couple of the other banks and see what they say. GO RV!!!!

But if your 1 million IQD becomes equal to 1 million USD, and you could not cash it in outside Iraq, wouldn't you (or couldn't you) just fly to Iraq, set up an account, cash in, and live happy sappy every after? If someone told me all I had to do was catch a flight to BFEsomewhereselse and I would make millions of dollars, guess what I would do! However that is just me. Or is that not possible?

I would not live in the Middle East for 1trillion dollars. NEVER. No amount of money would ever make me consider living there.

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