Bank Confirms RV Anytime soon is absolute BUNK

[DEESEAN]

hmmm....didn't we already established years ago...that the Banks don't know crap about the RV???

Bingo.... I'm willing to bet that 90% of the people here on DV know more than the people in the banks.

[Skybear]

Skybear - I'll give you 650 per million right now. COD or Paypal. I'm sure you'll want to get rid of ALL your holdings because of this due diligence.

Thanks, Choppermike -

But my business travels occassionally take close enough to Iraq where I can sell it for full value directly to the Iraq Bank (this is the ONLY way to get full value). And I only have less than 10-million dinars remaining, anyway.

Having finally decided to stop paying ANY attention to the repeatedly 100% ALWAYS wrong bullcrap from OBVIOUSLY deranged and pathological blogs (which good ol' Okie and Bear and Bluwolf and jonnywg, and "Frank [let-me-sing-to-you] Villa CONSTANTLY put out), I would do as Adam suggested and do my OWN digging.I am satisfied with the information I have found that it is accurate concerning the dinar, and DESPITE that disappointing conclusion, the investment opportunities in Iraq through legitimate banks and brokerage houses in Europe appear actually to be quite good. We, as Americans cannot legally participate in their BANK-DIRECTED investment programs over here, but we can in the brokerage houses investments. The annual reports from investment houses show they are NOW finally doing well with their investments in Iraq. BUT. . .they also now DEMAND to be paid 100% in US Dollars or in Pounds (not so much in Euros), and most now also require a VERY LARGE "UP-FRONT" escrow deposit from the GOI before they will lift so much as a finger or move even a single piece of equipment. The banks and investment brokerage houses here in Europe have painfully learned valuable and costly lessons in how to deal in business with Iraq. The brokerage houses here say to me that the Chinese are also VERY active in trying to get involved in MAJOR projects in Iraq (something most of us have heard before). The Chinaman's interest, however, isn't so much for CASH MONEY (they've already got PLENTY of ours), it is for something ELSE entirely that they need much more than money!

There are a lot of solicitations by various Iraqi agencies for different kinds of construction and building projects in Iraq, and the freedom to "get involved" by European banks and private investment houses appears to be quite prolific over here. There are apparently far fewer "restrictions" on these kind of investment projects here than in the US, and it is angering for me to see "first-hand" the advantages these Europeans have over us. There are Iraqi's ALL OVER THE PLACE over here soliciting business projects.

Even moderatly well-to-do people over here invest very profitably through these agencies, and UNLIKE we Americans. . .money they EARN outside their own country and which is KEPT outside their own country is NOT TAXED at all by their country!

Our own system, as you know, taxes on anything and on everything we earn NO MATTER WHERE it is earned OR where it is kept. But that is our dues to be Americans and I am willing to accept that as the cost of being an American!

Didn't mean to ramble, just wanted to say that I finally had the opportunity to do some personal research, as Adam has so often suggested. What I have found is EYE OPENING to me. I will eventually "unload" these few remaining dinars, but at a rate closer to $800 than $600. The liklihood that I will EVER recover what was charged by Ali to buy them is, IMHO, small and none.

But I have now seen with my own eyes how they do business with the Iraqis and their agencies who solicite project bids: PAY UP-FRONT! The bank and brokerage investment companies over here do like the Chinese Laundry does in San Francisco: "NO TICKEE. . . .NO WASHEE." And NOBODY will accept payment except in dollars or pounds - LEAST of all in Dinars!!! And from what I can observe, it is usually always in dollars.

My business here has allowed me the time to do some serious "digging." I have only scratched the surface, but I have seen enough in 2-weeks to finally dismiss any of the OOM-crowd or their ilk. I have also seen that people over here are following some of our blogs. For whatever it is worth, Adam is very highly respected over here as a realist and is not a fanatic. There are even some who have gone deeply into his OS project but they don't talk about it. I will investigate it, myself more when I return home.

So thanks for the offer to buy my dinar, but most are already GONE and the few I have remaining, I will eventually get $857 per million instead of $600.

[Mongo]

And the people have spoke......Thanks Airbear.......Most people that own Dinar tend to be biased on the outcome of their investment

positive news is more believable.......Why? because we want this, Ah, like( whats with this new generation and the word, LIKE) really bad

but a good poker player(gambler) knows it could go either way in an instant....

[DinarBot]

On the Phoney Bankers know the least. When summoned In person, the Second Least. Humans Employed by Any other bank than the Central Bank of Iraq will be the last to know of any pending RATE CHANGE. Sorry. But True. If anything. You met some Nice Humanoids that would rather Chat than count Beans on Toast. Thank you for ALL your hard work. Cheers.

[SocalDinar]

Banks will not change normal operations

Just like the people selling dinars make their money with a high spread

Go SHABS

[Yabadabado]

Banks will continue to deny anything until it is time to have your money in their bank... A Finical Advisor that is not getting your money to play with in their own way... they will certainly state that you wasted your money because the IQD is a scam... JMHO.

[caz1104]

I have a golfin buddy that is a VP of one of the big 3 banks here locally. He told me years ago if I needed Banking/Financial advise to contact him. For investments info to contact somone in that field for he has no more insider info than Krusty the Clown,and could'nt give it to me if he did. He did say he could speculate with the best of them tho. Did I say he's a terrible golfer as well,but he pays my way . Best to all

[hoosier1470]

It doesnt really matter if you are in the states, or the UK....banks have no insider info on when Iraq will revalue their currency.....period! Go RV!

[coleman619]

Bingo.... I'm willing to bet that 90% of the people here on DV know more than the people in the banks.

I'm willing to bet that 99% of that 90% just THINK they know more. The only place they are finding their info is right here in the forums....where anything with a positive spin is considered to be untouchable.

[Dinar_o'saurs]

Skybears post proves the ongoing pattern...... anyone else see it?!

European banks don't want anything to do with the dinar. Most bank here have stopped selling dinar but will gladly buy it back. Hmmmm......

Those same banks that discouraged him away from it, just recently loaned Iraq a fair chunk of change.

Italy who is in worse shape than Greece loaned Iraq, $500MM! Just last month!!

"PAY UP-FRONT"?

http://www.telegraph...s-its-size.html

They warned him to stay away from currency dealers. Well, where else are you going to get it if they're not dealing in it.

....... the ponzi scheme continues..........

[Kimjackie]

There is a real possibility that what you have said here is very true, However I would prefer to hold some dinar and take a chance on it going up then be one of those people that didnt hold any. What do we really have to lose? If you purchased only that amount you could afford, in my case very little, then you are just taking the same type of chance as you would in purchasing a years worth of lottery tickets. There is also the opportunity to sell the dinar back to banks if you dont want to hold it any longer, of course at a reduced price from what you paid for it, but you still will get something back from it.

I guess the main thing I am saying is buy only what you can afford and dont get greedy. This way if there really is an RV you make some money and if not you dont lose much.

[robinjp]

I haven't read all the posts to this thread, so hopefully this is not a repeat.

1. Remember, everyone, Iraq is a resource economy and most of the currencies from resource economies are going up-----without Iraq's special emerging-from -war situation!

The idea that it is a bad investment is just silly.

2. Also, recall that the high level bankers in Europe were behind the Euro, They must be super smart! HaHa!!