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Saturday Evening Opinions @ 6:25 PM CDT - 5/01/2021


ronscarpa
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Remember, no one really  knows what will happen, or when. They're simply stating their opinions based on what  they perceive to be happening in Iraq. :twothumbs:RON 

 


*** Frank26   I'm gonna say roughly about 30 articles today...who are they all from ...they're from the CBI.  Behold the "leaks".  This is on purpose from the CBI.  You've never seen them talk this much.  Today they were parrots on steroids and it's exactly what you want to see...none of this nonsense from parliament...this is all from the FAB 4 not just the CBI.  You've got the Arab Monetary Forum.  You've got the International Monetary.  You've got the World Bank.  You've got all Fab 4s there.  The only one not there is President Trump.  Trust me IMO President Trump is smiling like a Chester Cat right now...

 

 

*** Holly ***  Rv News: Contrary to what everyone out there is saying, it is a very slow, calculated roll out. They have the world global settlement side (GCR) and the other side is the RV. Both are being released slowly. It is not a shotgun start. ...You will have another 1-2 more weeks before it gets to our level. So prepare and relax. It is happening for real this time just slower than we all want. Never, ever give up.

 

*** Petra  There's a pattern here...way too many articles about updating the banking system down to the teller level.  It's way too many...we've got all this integration going on.  Tellers are being trained...we've got all this banking stuff going on.  I mean there's a lot of talk about banking...I love that the governor of the CBI came out this morning and says, 'Hey we're going to get our banks ready to start accepting digital transactions.'  Uh, excuse me sir we already know that's been done...I think he's trying to buy time...all these things are lining up...put all these kinds of things together it's pretty exciting...



*** BobTheTaxMan  I'm watching the banks.  That's my primary interest.  What is the CBI doing?  How is Warka interfacing?  I do have a contact at Warka.  I know what the interface looks like and I understand what they are doing.  They are working really really hard to get themselves SWIFT compliant.  Because once that happens the door opens for more international functionality and business and all those things that make credibility real in that country...(post 1 of 2).. 

*** BobTheTaxMan  I know that the interface between all the different banks...hasn't been completed yet.  That's something I learned from Warka.  That's something they're working on.  We also know the infusion of additional cash flowing into Warka is scheduled to come from the CBI but they haven't released it yet.  I think part of the reason they're holding it up is because they still don't have a value associated with it correctly.  Here we are.  It's all moving forward..(post 2 of 2).. 

 

 

:salute:And the wait continues - let's hope for not much longer - Ron

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13 hours ago, Smokey Mtn. Dinar said:

 

If these banks already deal with foreign currency's, then they don't need any "special training" for the IQD.  Basic rate knowledge should be all they need. 🙄 :facepalm:

Yare absolutely right! The process of converting a currency is a standard procedure. I have done currency exchanges many times on my international trips.  I always ask for a quote, even if the rate is displayed on the screens, Why?  Simply because when asking for a quote, they will present you with a proforma receipt which shows the amount you  you requested to exchange and the bank's fees if any, and then net amount you will receive in the exchange-currency of your choice. Then you can say Nay or Yay. 

 

Just got to watch the spread which is the difference between the bank's selling price and buy price. The wider the spread, the more the bank profits from the transaction. One strategy for the bank to lure you in, could be, to say no fees, but have a wider spread than another bank. It's buyer beware.

 

How do you figure out which bank is best?

 

After getting a quote from a bank, one needs to ask how long the quote is valid for. The quotes themselves don't last forever.  Then get another quote from another bank and finally compare the two receipts. The receipt with the biggest net total in your pocket is the bank to go with.

 

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