NCTRIGUY

This is absolute BS. Here is something that was passed to me today by an internal person here in Charlotte NC that was issued out on 1-22-14 to their Wealth, Brokerage and Retirement Group, AKA WBR. A couple of things, NO I do not have a link, NO I will not name the person who passed this on to me, and you will notice that I do not post frequently on this forum, BUT have been a member for many years. Fraud alert: Iraqi Dinar investment scam resurfaces Sub Headline 1/22/2014 Page Content ​Fraud/threat assessment While posing as foreign currency traders, fraudsters are luring victims into a get-rich-quick opportunity scheme involving the purchase of Iraqi currency. Some investors are just curious about the Iraqi currency offers, while others are convinced that the huge reserves of oil in Iraq will inevitably lead to inflated values of the dinar when the Iraqi government stabilizes. Fraudsters are running public awareness seminars, distributing elaborate folders of educational materials, launching online blogs, open chat rooms and setting up sketchy websites to hook their investors. This scam has been around since 2004 and returns from time to time. Somewhere along the way Wells Fargo was linked into this scam. It was recently reported in the Mid-Atlantic region this month and in Nashville, Tennessee in November 2013. The scam was also reported from Washington State in March 2012. Impact to Wells Fargo Reputation risk of not providing information to clients that can protect them from financial loss. What’s not happening? · Potential victims may not be aware of a few important facts. · Iraqi dinar is not traded on open exchange markets, is not a listed security, and there are no government agencies supervising its trading. · Wells Fargo does not trade in Iraqi currency, has not previously traded in Iraqi dinar, and has no plans to do so in the future. · Wells Fargo does not have any contracts or agreements with currency traders to service Iraqi dinar holders when the predicted revaluation occurs. · Wells Fargo does not make recommendations about paper currency investments, but does support a recommendation against speculating in Iraqi currency. · Iraqi dinar is not sold by any banks or any other regulated currency exchange outlets. · There is no market for Iraqi dinar outside of Iraq. What can team members do? · Listen for Iraqi dinar mentioned by a customer and recommend they speak to a Wells Fargo financial advisor. Also, encourage the customer to conduct some independent research before investing. · Do not provide investment advice and do not discuss the potential worth of a foreign currency. · Team members should notify store management if a customer is considering investing in Iraqi dinar. · Do not open a new account for trading Iraqi dinar or any other Iraqi dinar purpose — not even for an existing customer. We must never choose sales credit over a customer’s financial wellbeing. · Example “[Mr. or Mrs. Customer], Thank you for your interest in a new Wells Fargo account; however, to help protect your financial situation, Wells Fargo does not open accounts for any Iraqi dinar purpose and does not recommend speculation in Iraqi currency. May I introduce you to a financial advisor to discuss this further?” · Complete an Unusual Activity Referral (UAR) as soon as reasonably possible if you are aware of a previously opened account that is being used for Iraqi dinar purposes. · Notify a Market Support Consultant (MSC) if you hear of an Iraqi dinar seminar in your area. Your MSC will work with Risk Management Services and Legal to create and distribute a communication specific to your area. · Engage in a conversation to gather more details when a customer mentions any kind of investment opportunity. If it’s not the Iraqi dinar scam, it could be another investment scam you may be aware of.

Hey Einstein, I try and remain above the fray here as evident by the number of posts I have contributed to this board since I joined, but I could not pass up remarking on your arrogance. Here is some research that you evidently in your haste to make someone else look bad overlooked. Perhaps you should think before you speak. This has NOTHING to do with GURU news, and everything to do with REALITY of what IRAQ thinks about the RV and THEIR well being, not yours or mine or anyone else outside of Iraq. http://www.reuters.com/article/2012/04/12/iraq-currency-idUSL3E8FC8G120120412 Iraq halts plans to cut zeros off dinar currency-cabinet Thu Apr 12, 2012 3:10pm EDT * Cabinet says stops plans to redenominate dinar "until further notice" * Iraq has over 30 trillion Iraqi dinars in circulation * Plan to trim zeros not seen as a priority By Aseel Kami BAGHDAD, April 12 (Reuters) - Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable, the cabinet secretary said on Thursday. The central bank said last August it planned to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised and dominated by oil, and where deals are often carried out in cash. The proposal to restructure the dinar to bring more liquidity into the market has been awaiting parliamentary approval since last year. On Thursday, a statement on the website of the cabinet secretary said the cabinet had decided to halt all procedures relating to the redenomination of the dinar "until further notice". "The economic committee discussed this issue and so did cabinet ... There is a possibility that it could cause some problems in the economic situation. Besides that, this operation is so big that cabinet sees circumstances are not right to control this," cabinet secretary Ali al-Alaq told Reuters. Iraq is slowly getting back on its feet after years of war and sanctions. Oil accounts for 95 percent of government revenues and the country's banking system is still highly underdeveloped. HUGE PROCESS The central bank has kept the dinar fixed at 1,170 dinars to the dollar in its daily auction but it recently moved to revalue the dinar slightly to 1,166 dinars after demand for the U.S. currency soared. The central bank said it also had to tighten regulations over who can participate in the auctions as Iraqi traders sought to snap up dollars for resale in neighbouring Syria and Iran, both under Western economic sanctions. Sales of dollars in currency auctions held by Iraq's central bank rose as high as $400 million on some days in December from a previous average of $150 million, according to central bank data. "We have more than 30 trillion dinars in circulation. To withdraw this amount from the market and then to examine them and to dispose of them is a huge process. Even the technical and the monetary capabilities to control a process like this, we consider as insufficient and it is not seen as a priority currently," Alaq said. The central bank says Iraq's large foreign reserves, which have risen to a record $60 billion on the back of high oil prices, will shield it from any damage to its financial system on the national level. I dont like this news anymore than the rest of us that have been in this for several years, but it is what it is. Flame away people, but remember I am an investor just like you and am only the messenger here.

I doubt the OP was a so called pumper.

The guy has had 10 posts since 2009, you have had over 100 hundred since May, 2011. Who is the "NOOBIE" here Einstein? I would put more faith in someone that has posted very little and has been a member of this community for as long as he has than some "NOOBIE" that shoots his mouth off every chance he gets. That is the biggest issue with boards like this, so many people are willing to talk, or type, and yet they have nothing to say or contribute to the community. So would you cared to either re-evaluate your statement, or think about using your brain before engaging your fingers? Sorry, just had to be said.

A bank that deals with 1 out of every 3 people in the financial services industry in America is not just a typical bank. With Wells Fargo’s acquisition of Wachovia, they are a HUGE bank, along with Bank of America and JP. I would have serious concerns if they did not in the future deal with the Dinar. Take it for what it is worth.

I have to ask, how the hell do you have almost 1100 postings in less than two months? SPAM MUCH?

6.09 post per day since you joined. I see you are a major contributor for this board. And everyone is to take you at face value.

It is more than likely old WACHOVIA bank buildings being refitted with the Wells Name and look. This is happening all over the US.

Here is the bottom line, this is a highly speculative investment at best, there are no gurantees. Yes you could lose every single penny you put into this, is it likely? NO Do not invest what you cannot lose. Every thing else is just noise as far as excuses or answers you will receive. Think LONG TERM.

Funny, Blackwater has not been in existence for over a year, it was renamed. Did the person you know forget to tell you that? FYI the people that work for Xe make solid compensation directly correlated to the skills they bring (MOST ARE EX SF PERSONELL) and the danger they are exposed to. I would say that they actually make what they should make rather than working for our government making peanuts. What you deem "HUMONGOUS WAGES" might be just a decent salary to others. And yes, I do know two people that have worked for both organizations’ and they make mid six figure salaries and earn every damn penny they make.

So I have a question, you have been a member for about a month less than me, and you have almost 1500 posts since then. I take it that you are full of insight?

Why does it suck? It is reality. Too many here thought that this was a SURE thing, that many thought they would be MILLIONAIRES OVERNIGHT! That is not the case. This has always been a highly speculative investment at best. I have a certain amount of money in this, if I lose it all I can live with that. I doubt that will happen but I am prepared if it does. I also believe I will make a solid return on my investment in the LONG RUN! This is only disappointing to those that wanted to get rich quickly and thought that this was a done deal. Those that thought this were not realistic with their expectations. By all means, flame away.

144 Posts in less than 2.5 weeks. You truly are someone that thinks before you speak. By all means continue to dazzle this community with your brilliance. We are waiting with breathless anticipation!

FF you really should learn the difference between being negative, and being a realist and not a minion following the disillusioned. If you don’t like what I or anyone else wrote you can choose to ignore it. But what I said is my opinion based on factual knowledge and common sense. If that doesn’t fit into your warped sense of reality so be it. But I have simple Economics 101 on my side.

This has been previously stated and there is truth to this. If the Iraqi Government was anywhere close to RV'ing, they would not be giving their Dinars away at auctions. All of the current currency would be hoarded. When you see currency no longer sold at auctions, when it becomes scarce, that is when you know it will be close to RV. Until then we are no closer to this RV'ing than we were 5 years ago. My two cents, let the beat down begin from those in denial.