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Bank Guy

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  1. Well...the end of another year where the IQD did not RV! We have dealt with idiots like TNT Tony doing his version of chicken little every week...but instead of "the sky is falling" we get "It has gone LIVE...or IT HAS RV'ed in several countries!" The fact is...it will never suddenly "GO LIVE!" There are no "SECRET BANK SCREENS!" There is no bank....or three letter entity that is holding it up. The truth is.... We all hope that it does gain value over time...and MOST IMPORTANTLY... becomes an actual traded form of money! So...Merry Christmas to all...and to all a hopeful RV!! JUST NEVER TRUST THE TNT!! HO HO HO!!
  2. DO NOT open accounts for people who talk about wanting them for "Iraqi Dinar Deposits" Wells Fargo does not now...nor does ever plan to deal with the IQD. Nuff said TNT TONY... ALL GURUS WHO CLAIM TO HAVE WF CONTACTS........FULL OF............POOP!! Just left statewide meeting about more important things within the bank...but it ended with that message from the regional manager!
  3. So I post here telling you...any rumors from the guru idiots is false...telling you there are no "back screnes" no "Special trained tellers" No new De Lerue machines...no WAY at all that Wells Fargo will ever trade the IQD. I get negative votes. You agree that the gurus are full of crap...but when I tell you this paper you hold will most likely never be worth the "paper" it is printed on..you say I am the fool. Adam Montana may never pump,,,but this money will only gain value over the next 20 to 50 years. If ever!! I have an inside track on this "investment" and it will NEVER just jump to $20.35...$3.26 or even .01 any time soon. No rates have ever been on any American Bank screen...just check the only official site for rates. CBI! If the CBI web site shows the usual 11644...go to work and get over the fact that the tradeable money you spent to buy Dinar is GONE!!
  4. Simply put...no bank here in the US will exchange the dinar...I have had several people buy the VND DONG with our bank. It...unlike the Dinar is a currency we will buy back...at .000046 if it even goes to a penny it would be a better bet!
  5. From your impressive vocabulary...I can see why you "invested" in the IQD! Thank you for proving my point!
  6. As logic says...this will never suddenly "POP" at $3.44...or over that or even at a penny! It cracks me up how you on this site poke fun at the "GURUS" who every day claim it is going tomorrow...Their secret contacts have a rate of $20.58...the cards in Iraq are loaded and they are having a feild day spending...yet ignore how the real world works and still think it is going to happen! If the value did ever increase to make any profit...you still would need to fly to Iraq to "Cash in". There is no bank in the US that will buy back the IQD even at it's current rate! You can only "trade" it back for less than you paid to the only guys making money on this whole thing...the scammers that sold you this worthless paper in the first place!! I bought a couple million just for fun 6 years ago...but after doing tons of intelligent research have realized I will only give it to my grandkids to play with. The past "RV" situations should be a lesson to you...do some research!! Even when the Mexican Peso "RV'ed" no money was made and you could only exchange IN MEXICO!!
  7. In early 2010, the Iraqi government announced plans to redenominate the dinar, giving rise to one of the most globally anticipated “get-rich-quick” speculations in recent times. Three and a half years later, investors are still waiting, still hoping, and still buying more dinars. Their hope is that since Iraq has the second largest oil reserves in the world with the prospect of doubling its oil revenues over the next 10 years, any currency redenomination will be accompanied by a revaluation, resulting in a huge increase in the dinar’s value. In this, there is not one but three misconceptions that may unfortunately shatter the expectations people are placing on the dinar. These misconceptions center on a) the redenomination process, debt forgiveness, and c) the central bank policy. Misconception A: Redenomination Process In most cases, a country will redenominate its currency when inflation erodes its value to such an extent that it becomes increasingly difficult to process transactions – when there are just too many darned zeros on every bill. To simplify matters, nations will often chop a few zeros from their currency. For example, Bolivia in 1987 and Peru in 1991 dropped 6 zeros from their currencies, a redenomination of 1 million old money to 1 new money. To avoid confusion, the currencies were renamed. In Bolivia, 1 million pesos became 1 boliviano, while in Peru, 1 million intis became 1 sol. But no one became a millionaire. In either country, you still had the same value in USD after the conversion as you had before. When you went to a Peruvian bank to exchange 1 million intis for 1 sol, you walked in with 1 USD worth of money and you walked out with 1 USD worth of money. It was a flat exchange. The same will be the case with the Iraqi dinar, as indicated by XE.com: “In 2010, the Central Bank of Iraq announced their plans to redenominate the Iraqi Dinar to ease cash transactions. The intention would be to drop three zeros from the nominal value of bank notes; but the actual value of the dinar would remain unchanged.” Misconception B: Debt Forgiveness But what about foreign debt forgiveness – as much as 80% in Iraq’s case? Won’t the erasing of so much debt make the new Iraqi currency so much more powerful? Indeed, Iraq’s debt cancellation is substantial, as a 2006 CRS report for the U.S. Congress explains: “When fully implemented, the Paris Club’s treatment of Iraq’s debt will reduce the total debt owed to Paris Club countries from $38.9 billion to $7.8 billion. This remainder (20% of the original total), will be rescheduled over a period of 23 years with an initial six-year grace period of repayments.” However, the report shows that this forgiveness of debt has already taken place – first by the U.S. in December 2004 and then by the remaining Paris Club member countries in December 2005. The remainder of Iraq’s debt forgiveness has largely been completed as well, as the Central Bank of Iraq notes, “Negotiations with non-Paris Club creditors are ongoing (mainly with Gulf countries), and resolution of the commercial debt is largely complete ... This portion of the external debt has been reduced to $45 billion in 2010.” The CBI further states that while Iraq’s debt for 2010 was estimated at $92.3 billion, its GDP for that year was $82.2 billion. While the debt is high at 112% of GDP, it is not uncommonly high, and it is manageable. It is highly doubtful that any remaining debt forgiveness will be substantial, nor that it will ever impact the currency all that much. Misconception C: Central Bank Policy Another major misconception is that the Iraqi government wants a stronger currency that better reflects the wealth of its substantial oil reserves, which are currently the second largest in the world. As the following graph of the dinar versus the USD shows, the IQD has remained largely flatlined and stable since the beginning of 2009.
  8. Finally after years of opening and then having to close high end accounts because Dinar and Dong nuts coming in exclaiming "It is going to RV this Friday!" I had a customer over hear someone mention the Dinar and he said as to it RVing "There’s a better chance of finding Aladdin’s flying carpet in your local Home Depot" and holding it as an investment "it would be like owning a rusting, un-drivable car sitting in your driveway." Sanity is a sea of crazies! So refreshing!
  9. I heard that Miley Cyrus' twerking is causing the CBI to rethink the RV!
  10. Wells Fargo does not now...nor do they have any plans in dealing with the Iraqi Dinar in the future! Official stance...end of story!
  11. I had a guy I know, who I thought was a solid and intelligent person as a chamber of commerce president, come in today and insist that the Dinar and like 90 other currencies had RV'd becuase he read it online! He still thinks we at the bank have some secret "back screens". His words. Sorry...but no matter what the gurus say...there is no such thing as "Back screens" or "Secret tellers". It has not...and may never RV!!! Stop calling!!
  12. A guy called my branch today saying he wanted to make an appointment to cash in his Dinar since it "went Live Today". He wanted to make sure we had $40 million on hand in cash for him. Yea right...like a bank keeps that much cash on hand...when informed that not only do we not exchange Dinar but we would never have that much cash on hand. He then informed me that he was told that "secret Tellers" were on their way with atleast $250 million to take care of our dinar customers. I wonder what guru gave him that huge load of crap? Better still was the guy who claimed a 1st class only plane was going to be at the airport to fly all of the new Dinar millionaires to Iraq to cash in! Fools!
  13. You lie and do not! The first thing you hear when you call 1-800-626-9430 is "Wells Fargo Does Not Buy or sell Iraqi Dinar and has no plans to do so." If you do work for Wells Fargo...you must be extremely misinformed!
  14. FOR SURE KUWAIT DINAR! Wells Fargo does not sell IQD!!! I have told you to call the number!!! :blink:
  15. I don't see a dime of those fees so...what do I care.
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