Here's what my bank said

[caracam]

I sent this email to RBC head office.  Here is what they said.

 

Hello
Regarding foreign currencies.
Does RBC have any future plans to buy/sell the IQD (Iraq Dinar).
I have heard that the IQD may become an international currency in the near future.
Any information would be greatly appreciated.
Thank you

 

My name is xxxx, and I'm happy to help you with your question about IQD (Iraq Dinar)..
With Iraq Dinar being from a sanctioned country, RBC does not deal with the Dinar. Sorry but I cannot say whether or not this is something that will become an option in the future.

Thanks for contacting us. We'll be happy to help you again if there's anything else you'd like to discuss.

Pretty much confirms what we suspected all along.


 

[stealthwarrior]

Confirms what?

[ReVbo]

We pretty much all knew the banks aren't dealing with it these days. From your email exchange, I think it would be safe to infer that RBC will start dealing with it once Chapter 7 sanctions are lifted. It's kind of a lame excuse, though, considering many banks were selling it just a couple years ago, and the sanctions were in place then, as well.

[one2one]

i doubt if any bank will deal with a non world-wide tradeable currency :

 

they use our USD and have no urgent desire to change---IMO

[caracam]

Confirms what?

 confirms that they will not deal in the IQD as long as Iraq is under sanctions

[SgtFuryUSCZ]

Confirms what?

***///

 

        

[yusofsabri]

You're lucky because he/she never mentioned that iqd is a scam.

[Osmosis]

Why did you even bother to write them?  Is this your first trip on the roller coaster?

[fishing]

Why did you even bother to write them?  Is this your first trip on the roller coaster?

 

You took the words right out of my mouth, Good point!

[caracam]

Why did you even bother to write them?  Is this your first trip on the roller coaster?

 

Others were reporting what their banks were saying and I was just doing the same.

Why bother reading, reporting or investigating anything until it shows on CBi in that case?

[Goldiegirl]

Is that Royal Bank of Canada?

[caracam]

Is that Royal Bank of Canada?

 

Yes it is .. Sorry I forgot to mention that.

[Goldiegirl]

Yes it is .. Sorry I forgot to mention that.

Waste of time. Most likely the larger TDcanadatrust banks will take it in. I've already inquired.

[dontlop]

when the us exchanges the foriegn currency into petro dollars that every country uses to buy oil  .. where do ya think the foriegn currency goes ?

 

it is deleted .

 

 

they cant exchange that currency then put the other currency into the economy too,, that would just double the world m2 money supply every time they did it .

 

 

the iraqi dinar is not  in the worlds m2 money supply at this time .

 

but when it is .. and as it is converted into other curencys .. those dinars will be deleted from the worlds m2 money supply . and iraq will gain the value back in petro dollars ..the only dinars left in existance after this will be the dinars  in the iraqi local economy ..

it has to become internationally acceptable

[dontlop]

everyone who uses dollars will gain from a dinar rv .. those dinars after being converted into dollars  can be use to purchase anything  any where ..

 

so there will be no burden on iraq to back anything up .

 

some people say .. ya iraqs going to get rich by giving their wealth away ....

 

i say they didnt rv first then sell them cheap ..so they are giving away nothing

 

so people say when they exchange them  they will go broke ..i say yes if everyone goes to bagdad  cbi to exchange them ..i know personally if i can go to the safety of my own bank to convert  them into  dollars , i certainly will not be flying to bagdad to convert them.

 

the us will simply  convert them into dollars and destroy those dinars .. and the accounting procedures will show where those dollars came from .

 so where did iraq give away its wealth .. they sent out low valued  dinars and brought  home many dollars after rv .

 

if they  rv their currency  to equal a dollar per dinar .. and after that they sold their dinars for 1000 dollars  per million .. then i would say they gave away their wealth .. but they didnt ..they first spread them out then they rv their dinar .

[dog53]

Worst bank story I have ever read.  

[dontlop]

they can  take those dolars to iraq and exchange them in for dinars if they want .. or buy any goods and services in iraq with those dollars which were made avaliable through the conversion .. they can buy oil with those dollars that were provided by converting the dinar into dollars .

 

so in a round about way you can say those dinars that are spread all over the world can be used to buy oil .

 

what a brilliant idea . to spread them out at our expense .. then rv ,,

 

 and turn them into coupons for oil .. ";to me a dollar is a coupon " used for exchange for goods and services

[caracam]

Worst bank story I have ever read.  

 

lol sorry next time I'll juice it up with some bs

[dog53]

lol sorry next time I'll juice it up with some bs

 

Thank you.

A good bank story can never have enough BS

[DinarThug]

Thank you.

A good bank story can never have enough BS

The Initials BS Stands For Bank Story !

[dontlop]

the way i see it .. the world community took the iraqi dinar out of the worlds m2 money supply .. and now the world wil replace that  money back into the worlds m2 money supply

[GT ACE]

 

Why did you even bother to write them?  Is this your first trip on the roller coaster?

There is only one ride on this roller coaster and there is no end in sight! I am on my 7th time around and I am past a lot of crap but most of it is still in the rear view mirror! 

[umbertino]

Worst bank story I have ever read.  

Dog... That may happen.... Cheer up.

[LIBoy]

I for one am thankful for your story Caracam.  You took it upon yourself to investigate a situation that intrigued you and you had the decency to take your time and share those results with us.  I'm not sure why people need to be so self righteous and condescending in their replies. 

Keep up the good work!!!

[KiaKaha]

*gasp* I agree with LIB... twice in one month! (Just kiddin' ya, LIB... I spent some of my childhood on Lawn Geyeland... Riverhead, to be precise. Of course, at that time, it was all potato farms, not vineyards...)

 

Thanks, Cara!

 

KK