Everybody Loves A Bank Story.

[Luigi1]

Here's an article of Dinarian interests...

Basil IV compliant is here & now.

Treat as a rumor.  Not verified.  Your opine.

 

 

R M Jonsson:  Basil IV Compliant.

ARTICLE:  Today, at 10 AM, Wednesday, January 11th, in northern Nevada, I needed to exchange some Bills for larger Bills.   I finally decided to ask a simple question to my banker.   "Are you guys getting ready for the QFS".   I didn't want to get her in trouble so that's all I asked.   She responded with a big smile on her face.  "Yes"   Which means that the bank must be Basil IV compliant & everything I have heard & been reading is true.

[Luigi1]

FYI.  There were several articles out this week about banking reform & even one article about bank bail-ins.  Bank bail-ins means the banks will just help themselves to your RV-RI to become solvent.

[GregHi]

I love bank stories where even if they were true, pinning your RV hopes on a $16 per hour bank teller is pretty funny. Because they are surely in the know!!

[Luigi1]

here's an article related to the above...this is from MarkZ so take it with a grain of salt...Z claims the banks are getting redemption ready...

 

 

MarkZ:   Redemption Ready.

ARTICLE:  Iraq has been fairly quiet.  I am being told the banks over there, as well as here in the US & all over the world have been getting redemption instructions over the last day or two.  So they will be prepared for when it does occur.   I am hearing they are still trying to do this before the 31st.

[Luigi1]

here's another article related to the above...

 

RVReady:   Parliament Publishes The Agenda For Next Saturday's Session.

"we must remember there is no requirement for the 2023 Budget to RV.  The CBI could launch the RV tomorrow morning.

[Danishere4news2]

9 minutes ago, Luigi1 said:

here's another article related to the above...

 

RVReady:   Parliament Publishes The Agenda For Next Saturday's Session.

"we must remember there is no requirement for the 2023 Budget to RV.  The CBI could launch the RV tomorrow morning.

The budget & the opening is still needed with any kind of a change in rate. You can't just hand out money for things & not know where funds are going, etc

[screwball]

2 hours ago, Luigi1 said:

FYI.  There were several articles out this week about banking reform & even one article about bank bail-ins.  Bank bail-ins means the banks will just help themselves to your RV-RI to become solvent.

100% only cash in what you have to according to the CBI instructions, and only if you really really need it...

[Floridian]

51 minutes ago, screwball said:

100% only cash in what you have to according to the CBI instructions, and only if you really really need it...

 

What are you saying?  When it RV's we shouldn't cash in?

When are we supposed to cash in, if not when it RVs?

[screwball]

29 minutes ago, Floridian said:

 

What are you saying?  When it RV's we shouldn't cash in?

When are we supposed to cash in, if not when it RVs?

i am saying be wary of bail laws.........if you keep cash in the bank they can take it, so unless the CBI say you have 2 months why exchange it all??? especially if its a very low rate? if you want to cash all your choice but for me I will be guided by CBI

[Floridian]

5 minutes ago, screwball said:

i am saying be wary of bail laws.........if you keep cash in the bank they can take it, so unless the CBI say you have 2 months why exchange it all??? especially if its a very low rate? if you want to cash all your choice but for me I will be guided by CBI

Oh, now I understand.  You're talking about bail-in laws in the United States.  I thought it had to do with Iraq.

That's good advice.  Unless Iraq says you have to cash in within a certain time frame, just hold the dinar unless you need the money for something like buying a house or car, or other expensive item.  

 

Advice for those who might not know:  Don't just cash in and put the money in your bank account, because the banks are liable to keep your money to bail themselves out of financial trouble.  When you deposit your money into your bank account, you are a "creditor".  They can take your money if they need it.  This is something we never realized when we opened our savings accounts.  We found this out because of "bail-in laws".  Google it.  

[HowieC]

If it's not all going straight into tangible assets........Are we better off in credit unions? Sorry if this sounds stupid..

[screwball]

33 minutes ago, HowieC said:

If it's not all going straight into tangible assets........Are we better off in credit unions? Sorry if this sounds stupid..

possibly, as long as they are safe and your money is insured and not by FDIC, but I am no expert..

[screwball]

i think bail in laws apply to all financial institutions!

[Luigi1]

19 hours ago, HowieC said:

If it's not all going straight into tangible assets........Are we better off in credit unions? Sorry if this sounds stupid..

 

Your best bet to protect your funds are through a Trust or a LLC.

The FDIC only insures your loses up to $200,000. 

It used to be $100,000 but they increased it a few years ago.

Check with an accountants to be sure.  They might have raised the ceiling again.  IMHO.