mrsonnyr - MY ACTUAL WF Wealth Mngr Appointment Yesterday - NOT RUMOR

[mrsonnyr]

OK...My family NEEDS this REAL bad! I've been a dinar holder and good-standing member of several sites for many years. I figured one day, when I had finally had a legitimate experience, I would pass it on. Take it or leave it, simply FYI this is what we experienced yesterday at Wells Fargo.

My business partner and I met with a REAL Wealth Manager (he also works closely with a head Personal Banker who was to be at this appointment but couldn't make it). They both work together in handling accounts well into the tens and hundreds of $$$millions, in SEVERAL branches in a suburban area around Seattle.

FYI...According to him, their general policy, due to the Fed's continual feeding of money into the system at close to zero interest rates, any on-demand deposits LESS than $5 million would be handled at local branch levels and strategies (which he wasn't too excited about). Deposits OVER $5 million is where they would step in at their level with various strategies depending on your particular goals. THAT is where we got his attention, and even that was "no big deal" as they handle large Fortune 500 companies.

He also said that they DO have strategies/products that WILL absolutely protect ALL your funds through FDIC insurance. WF has MANY banks under various alterations of the WF name. They simply tie your accounts together with their other WF banks (EACH having the $250k limit) and anything over $250k in the main account simply cascades/spills over into the next account, so that ALL your money is protected. He said "you don't think all the people that have multiple $millions would only be protected to $250k do you?"

We had OTHER business and investments we were discussing with him and just lightly mentioned that we also had foreign currencies that we hoped would perform well, as the USD dropped. HE brought up the fact that a lot of people had been coming in all wound up about the dinar. I was a bit shocked that HE brought it up and he said that they were all dreaming.

We then told him that we were also dinar holders because, although we DON'T buy into the DAILY hype, we do believe that the artificially held down rate will eventually have to be lifted for Iraq to be able to trade internationally. Additionally (though we hope for an actual RV), even if they dropped the zeros and had a 1-to-1 ratio in the beginning, we anticipated a free float based on the international market demand. With the dropping worldwide value of the USD, even IF it took 1-4 years for the IQD to raise to the value of neighboring Kuwait ($3.50+ range), it still appears to be a good risk.

Both men were VERY aware (said they they had dinar warnings posted in all their back rooms) and said that WF has NOTHING to do with any 800#s or plans to exchange at the expected numbers we all anticipate (and please don't say it's just not at the branch level...NO PROOF). Based on what we've been told for years and a little common sense, one would expect these UPPER Level management Wealth Mngrs and Personal Bankers should know SOMETHING, right?

Instead he told us that he really hoped for our sake that he was wrong, but that our other business associate (who DOES get spun up in the hype) should STOP buying more!

He said if he WAS wrong, he'd be the first to congratulate us and buy us a beer! Why? Because he knows he stands to make money if we work with him!

There you have it...a REAL WF Wealth Manager and Personal Banker.

[SgtFuryUSCZ]

***///

 

Okey dokey, MR.SONNY....!  Thanks for the post !  

[DinarThug]

"mrsonnyr - MY ACTUAL WF Wealth Mngr Appointment Yesterday - NOT RUMOR"

What R U Doing Posting Something 'NOT RUMOR' In The Rumor Section ?

Yet Another Great Post Bro' !

Thx For Taking The Time To Share It With Us And Bringing Some Needed Truth In !

[Bunk]

       >>>>   

[new york kevin]

Well I have not given a "good article" atta boy for anything in the rumor section since my rookie days on this site, I think.

 

Good article mrsonnyr. Clear, consice, and to the point. Plus there is no hype of false claims, dates or rates. Gracias.

[okane]

Thank you for sharing 

[powerpager]

Is that a rumor?

[boosterbglee]

Thanks MrSonnyR, for sharing a "non-rumor".....I love true stories!  Maybe someday it will be a movie!

[Viciousdoggie]

mrsoonyr,  Great story. No hype, no bull, just the truth.  Thank you

[Nelg]

Sonny, it is a breath of fresh air when we here something that is not trying to hype everyone into "buying more dinar." 

My brother has a very large foundation with WF and meets with them either by phone or personally every day. The people he works with are not your garden variety banker.  They do know what they're talking about and when to talk about it.  

 

I believe these stories about fantastic rates, 800 numbers, and countries already cashing it are nothing more than "gossip chains" passing stories around that they are told by "gurus."  By the time it gets to the fifth person and they add their excitement and "supposed" information, the story has grown beyond belief; aka. $30 to 1d.  And, there are a growing #ber of "newbies" who actually trust what these gurus have told them.  Really, its not funny.  Too many are depending on an RV to heal them of $$ problems.  When it doesn't happen, the bottom fall out   

 

Thank for the "feet on the ground" story.  

[trvlr787]

OK I will also add a little information.  My wife and I had dinner with her best friend and husband who is a wealth manager with WF.  I jokingly commented about the dinar and he graciously told me that there is too much bad going on in Iraq and he really wouldn't make any bets on having to use his services.  I told him I wasn't on that band wagon but thought it still had the capability of double or maybe triple the investment over the next couple of years.  I have been in it for 9 years and if they drop the zeroes and go 1 for 1 that means a $10k investment would return your initial capital.  With this you would have earned back what the dinar dealer has charged.  Going forward if the dinar went to $3 eventually then there is where you would triple your investment.

 

He said that could be a possibility but still skeptical.  On the other hand I have a friend that keeps emailing me repeating TNT  Tony projections.  I thought this guy had some sense about him but when I laid it out on what that would mean he stepped back and took another look.  Even now if they went 1 for 1 with what is in Iraq the total value plus or minus would be 37 trillion $.  Now tell me what country in the world has that much value in their currency.  I feel sorry for the people getting suckered in to these wild stories and I hope these idiots do have federal charges brought against them.  It's going past entertainment and funny stories to read these ramblings as some people are actually ruining their lives believing their hype.

 

Do as you like but my investment projections are far less than even Adams.

[amal]

Thanks for sharing.  FYI this is a rumor because it is just talk that cant be verified.  Even the wealth managers position on the dinar is based on rumor or hearsay because he doesnt have crystal ball.  When did rumor come to mean outright lie?  Sometimes rumors are true.  Its rumored that possum is thinking about drinking tonight.

[mrsonnyr]

Sonny, it is a breath of fresh air when we here something that is not trying to hype everyone into "buying more dinar." 

My brother has a very large foundation with WF and meets with them either by phone or personally every day. The people he works with are not your garden variety banker.  They do know what they're talking about and when to talk about it.  

 

I believe these stories about fantastic rates, 800 numbers, and countries already cashing it are nothing more than "gossip chains" passing stories around that they are told by "gurus."  By the time it gets to the fifth person and they add their excitement and "supposed" information, the story has grown beyond belief; aka. $30 to 1d.  And, there are a growing #ber of "newbies" who actually trust what these gurus have told them.  Really, its not funny.  Too many are depending on an RV to heal them of $$ problems.  When it doesn't happen, the bottom fall out   

 

Thank for the "feet on the ground" story.  

I've been in this investment for several years, and this happens EVERY year at this time.  I had to step away for a long time now to focus on reality.  Things DO seem to moving to conclusion we're a lot closer than a few years ago!  However, I study the subject almost every day,   I finally felt I had to come out and try to bring some reality to the groups.  Cheers all.

[jeepguy]

thanks  for  doing  some  leg  work  for  those  who  wish not too....    good to see you again sonny ,  hope all is well in Seattle ,  by the way !   is it raining   tons  there now , we have a flood watch in the  eastern region ,  just wondering  what is coming !    thanks again buddy    jeep

[dontlop]

So mr sonny r

Do you not believe them ?

Your still here

If you believed them or if I was you and I. Believed them I'd just go sell off my dinar

Your still being here leads me to believe your still not convinced and maybe people around here are more educated on Iraqi dinar than they are

So what's your next move ?

Edited December 19, 2013 by dontlop

[chess]

WHAT IF......the dinar genie appeared and said:

 

You must either cash all-in, right now, for 3 cents per (1) dinar

 

.........................................OR...................................................

 

wait for 6 months and take your chances then?

Edited December 19, 2013 by chess

[dontlop]

I'm gone

One penny gone

Four penny's

Happy new year

[dontlop]

Gimme a dime and I'll flip out to the funny farm

A dollar each

I'll walk around acting like a big shot millionaire and put on 500 pounds

I'll buy a junk yard and raise hippos

[dontlop]

4 cents is 40 grand for a 740 dollar investment

I'd be grinnin

[djgabrielie]

Well I have my bank story as well today.

 

Went to Bank of America in LaGrange Georgia to have an account closed and asked them if they would handle currency exchange for the Dinar now or in the future.

 

 

The answer was No!

[chess]

......and, at 3 cents.....I'll happily take an off-duty cop with me to 5th/3rd Bank!

[mrsonnyr]

So mr sonny r

Do you not believe them ?

Your still here

If you believed them or if I was you and I. Believed them I'd just go sell off my dinar

Your still being here leads me to believe your still not convinced and maybe people around here are more educated on Iraqi dinar than they are

So what's your next move ?

[mrsonnyr]

So mr sonny r

Do you not believe them ?

Your still here

If you believed them or if I was you and I. Believed them I'd just go sell off my dinar

Your still being here leads me to believe your still not convinced and maybe people around here are more educated on Iraqi dinar than they are

So what's your next move ?

Sorry...had to modify post.

AS I said to the Wealth Banker in my post, although we DON'T buy into the DAILY hype, we do believe that the artificially held down rate will eventually have to be lifted for Iraq to be able to trade internationally. Additionally (though we hope for an actual RV), even if they dropped the zeros and had a 1-to-1 ratio in the beginning, we anticipated a free float based on the international market demand. With the dropping worldwide value of the USD, even IF it took 1-4 years for the IQD to raise to the value of neighboring Kuwait ($3.50+ range), it still appears to be a good risk.

So we stay diligent in our studies the best we can WITHOUT getting emotionally spun up, live life as if we are not part of this investment, do what we would nlrmally do, plan for "what if", and wait. Nothing else we can do.

I do think we know FAR more of the economic and political situation in Iraq than the Wealth Mngr does because we have a reason to study it...he does not. Stands to reason because he's being told from above we're dreaming, which IMHO, very well could be smoke to keep the masses from spoiling their plans.

That said, I DO think people should stop praising every fricken post from "gurus" that claim "it's happening" every day. Wow!

As I said, I DO believe the dinar has to go up in value. How much or exactly when, we don't know. I just know by studying Iraq's progress and economic advances, their goal toward international trade and banking status HAS IN FACT gotten better in the last couple years.

Hey there "Jeep Guy" good to see ya!

[KWA73]

It will happen when it happens, there are a lot of people that say it will happen and a lot that say it will not happen, but reality is, no one knows. These experts and self proclaim experts know nothing. Just don't depend on the dinars to rv, I have seen people make dinars plan "a" when they should not be plan "z". The reality is, these are a investment and TNT tony could not predict the path of poop in a toilet.

I said before, sit back and enjoy your life, put them in a safe place and forget about them, go on with your life, and don't depend on these dinars to rv, they will be eventually worth something, they were worth something in the past, and they will be again.

[Brisco]

Well I have my bank story as well today.

 

Went to Bank of America in LaGrange Georgia to have an account closed and asked them if they would handle currency exchange for the Dinar now or in the future.

 

 

The answer was No!

When the IRAQ dinar goes international they will buy and sell Dinar just like all the other major banks.

And the teller or who ever told you that will still be a teller.