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Best Bank Story EVER!


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I thought Aladdin had a magic lamp and that Steppenwolf was the one taking a "Magic Carpet Ride"

 

 

Last night I held Aladdin's lamp

And so I wished that I could stay

Before the thing could answer me

Someone came and took the lamp away

I looked around, a lousy candle's all I found

 

Well, you don't know what we can find

Why don't you come with me little girl

On a magic carpet ride

 

Well, you don't know what we can see

Why don't you tell your dreams to me

Fantasy will set you free

Close your eyes girl, look inside girl

Let the sound take you away

 

 

Yep.

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Come on people don't y'all think your being a bit hard on this poor guy?

I mean he's a banker, which is to say, He has NO FRIENDS. The only time

Anyone ever talks to him is when their begging for a loan. Even a bankers mother doesn't

Call. He only makes $55 thousand a yr selling pathetic schemes to old people.

Can y'all imagine how depressing it is only being able to get your customers 2and1/2%?

About the only worse career a man could choose would be a lawyer.

So I suggest that we all show this man some compation, he clearly needs help.

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My bank story. Quick simple, right to the point.

 

I just changed my name to my DV user name.

 

From: charteroakmarketing email <charteroakmarketing@cofcu.com>

To: Date: Man_Kind 08/07/2013 11:42 AM

Subject: RE: A Message from the CEO

 

 

Mr. Man_Kind

 

If the Iraqi Dinar becomes internationally tradable we will have a resource for you, at the very least, to get more information on how to exchange it. Unfortunately, until that time there is not much we can do for you.

 

Thank you,

Charter Oak Federal Credit Union

 

 

From: Man_Kind Sent: Tuesday, August 06, 2013 1:56 PM
To: charteroakmarketing email
Subject: Re: A Message from the CEO

 

Hi Charter Oak !

Quick question. Charter Oak in Groton just informed me that they just opened a Foreign Exchange department.

I am invested in the Iraqi Dinar. If and when this currency becomes internationally tradeable , will I be able to exchange my Dinar at Charter Oak ?

Thanks in advance,

Man_Kind

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My bank story. Quick simple, right to the point.

 

I just changed my name to my DV user name.

 

From: charteroakmarketing email <charteroakmarketing@cofcu.com>

To: Date: Man_Kind 08/07/2013 11:42 AM

Subject: RE: A Message from the CEO

 

 

Mr. Man_Kind

 

If the Iraqi Dinar becomes internationally tradable we will have a resource for you, at the very least, to get more information on how to exchange it. Unfortunately, until that time there is not much we can do for you.

 

Thank you,

Charter Oak Federal Credit Union

 

 

From: Man_Kind Sent: Tuesday, August 06, 2013 1:56 PM

To: charteroakmarketing email

Subject: Re: A Message from the CEO

 

Hi Charter Oak !

Quick question. Charter Oak in Groton just informed me that they just opened a Foreign Exchange department.

I am invested in the Iraqi Dinar. If and when this currency becomes internationally tradeable , will I be able to exchange my Dinar at Charter Oak ?

Thanks in advance,

Man_Kind

 

There are some federal credit unions that can exchange foreign currency... it will depend upon which CU you use. Looks like yours is one who is able to do so and you can exchange with them when the dinar is internationally tradable. Interestingly, my life time friend is the CEO of a large CU and the gov is doing hand stands in giving them grief and trying to limit their ability to conduct all venues of transaction.... Seems par for the course of a gov/bank ruled country that is hell-bent on controlling all monies... even those put aside by groups of individuals outside the big bank circles... 

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***///

Credit Unions doing international currency exchange....? :huh:

 

 

I know SgtF.  My thoughts exactly.   I've been with this bank for thirty years and now all of sudden  for the first time they now have a foreign Currency Exchange dept.   They just open this department  about four weeks ago.

 

32 Chicago Ave, Groton, CT 06340

(860) 446-8085

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There are some federal credit unions that can exchange foreign currency... it will depend upon which CU you use. Looks like yours is one who is able to do so and you can exchange with them when the dinar is internationally tradable. Interestingly, my life time friend is the CEO of a large CU and the gov is doing hand stands in giving them grief and trying to limit their ability to conduct all venues of transaction.... Seems par for the course of a gov/bank ruled country that is hell-bent on controlling all monies... even those put aside by groups of individuals outside the big bank circles... 

Hi Rayzur,

 

I was pretty shocked myself.  First thing that came to mind was WOW , why now after thirty years of banking with them. The timing really made me wonder.

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***///

 

Y'know, MAN_KIND, we never thought to drive any of this through our Credit Unions....

 

'OlSarge set it all up over at Wells Fargo, so we just left it at that.  He must've had his reasons

so we won't alter the course he charted. :salute: Thank you for your post!

You are most welcome my friend ! :salute:

Enjoy your Monopoly Money suckers! :lol:

 

 

There's a ****** bag in every forum . Sorry , couldn't hold back.

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***///

 

MAN_KIND -- We spoke with our Pentagon Federal Credit Union chap.

 

No longer in Washington, D.C., we had to invest a dime and call his direct cell...

 

He's out in Annapolis getting ready to take his sailboat out so we made it quick...

suffice to say ---

Was a very interesting conversation, indeed. ;)  ;)  ;)

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Enjoy your Monopoly Money suckers! :lol:

Nobody screams, "I'm a jacka$$!" quite like you.  Congrats.  You have been a "member" for over two years now, why?  Get a life but before you leave just remember, all of those that you have made fun of and gotten joy out of closing their accounts when their RV didn't happen..... They will be back!  And your bank will get a little cut on the spread plus that $8 fee for the transaction.  You will then be begging them to keep some of their money in your bank.  Oh, I'm sorry, the bank that you WORK for.  They will be off enjoying life.  Giving like no one else and living like no one else.  Do yourself and those around you a favor and try to find some joy in doing something good and positive.  Peace

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Hi Rayzur,

 

I was pretty shocked myself.  First thing that came to mind was WOW , why now after thirty years of banking with them. The timing really made me wonder.

 Hey Mankind... the CUs are working their tails off to provide as many services to their members as possible and despite the plays made against them by the big banks....slowly but surely they are getting there... I'm pretty sure the timing has nothing to do with the dinar (if that's what you were wondering)... but more so, as a alternative to big banks, who constantly throw as much mud in their path as possible. Personally, I would do as much transacting with them as practically possible these days. and of course, to each their own  :D

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Hi Rayzur,

I was pretty shocked myself. First thing that came to mind was WOW , why now after thirty years of banking with them. The timing really made me wonder.

And that is how I felt when I saw Chase put "private banking" on each of their windows in my city - at least all the ones I see.

Alternatively the dollar is falling and in comparison to other currency we will be probably closer to the bottom than the top and we have in the past and more people will be interested in investing their money and foreign-currency so it makes a lot of sense for the banks to start working out direction-regardless of an RV.

I certainly hope that it is anticipated moment for the RV and that the RV happens because my life would certainly benefit!

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Home Depot doesn't sell Disney products............I call bs

Now that...is funny. +1

Bank Guy, your on here why? It seems to me like you don't see this happening so why troll the site!

Probably dislecsic and surfing the net for info on STD's.  After all, VD inverted is DV.

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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.

july-2011-new-iraqi-dinar.jpgIn 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, B) 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.

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