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Why ALI & Dinar Trade is where OUR IQD is headed

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Why ALI & Dinar Trade is where OUR IQD is headed

By SpareTimeToys on KTFM - 12/06/2010

Got an email from a guy at work who has done his own P.I. on RI exchanges. Sure the banks will wave the "FEEs" but this shows the spread they are killing you with. IMHO sell to ALI and do the wire of funds.

"Just opened up an account at Bank of America today. While we were there I asked the customer service agent what would be the currency exchange on the Kuwaiti Dinar. He said it wouldn't cost anything for bank customers. I said if I had 1 million dinars to exchange what would you pay me to sell them to you. He first googled and found out the rate on forex was 3.5421 per 1 USD. He then went to their page and found out they would buy them for 3.2111 per 1 USD. A 33 cent difference. So if my calculations are correct, 1,000,000 x 3.54 = 3,540,000. Their rate 1,000,000 x 3.21 = 3,210,000, a difference of 330,000. They don't need to charge fees, they are making a killing off of the spread. I'm not saying that Iraqi Dinar spread will be as wide a margin as this but they are making a lot of money. Got my eyes opened!"

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Why ALI & Dinar Trade is where OUR IQD is headed

By SpareTimeToys on KTFM - 12/06/2010

Got an email from a guy at work who has done his own P.I. on RI exchanges. Sure the banks will wave the "FEEs" but this shows the spread they are killing you with. IMHO sell to ALI and do the wire of funds.

"Just opened up an account at Bank of America today. While we were there I asked the customer service agent what would be the currency exchange on the Kuwaiti Dinar. He said it wouldn't cost anything for bank customers. I said if I had 1 million dinars to exchange what would you pay me to sell them to you. He first googled and found out the rate on forex was 3.5421 per 1 USD. He then went to their page and found out they would buy them for 3.2111 per 1 USD. A 33 cent difference. So if my calculations are correct, 1,000,000 x 3.54 = 3,540,000. Their rate 1,000,000 x 3.21 = 3,210,000, a difference of 330,000. They don't need to charge fees, they are making a killing off of the spread. I'm not saying that Iraqi Dinar spread will be as wide a margin as this but they are making a lot of money. Got my eyes opened!"

Good Call!!

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Not so quick! I know there will be special rates and offers from Bank of America and Chase Bank as soon as the RV hits.

The banks will do all they can to attract the IQD investors and I have been told all the plans and deals are all set and just waiting for the RV.

The spread reported there is for the Kuwaiti Dinar and the US Banks have no incentive for special deals on the Kuwaiti Dinar but the IQD is something all the banks will make special deals to get new clients and old to exchange the IQD with their bank.

Thats where I will go, to my bank

Phoenix

Edited by Phoenix
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I'd tell the bank that if they charge me a spread like that I'm taking my money and my investments elsewhere. Wheel and deal people. You have the leverage, not them. They want to manage your assets, trust me.

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Yes, it gets me everything someone says that their bank is exchanging their Dinar with "no fee" and argue the point until they are blue in the face!!!!!

"You idiot, they are not charging you any up front fee BUT they make their money on the spread in the end!!!! That IS the fee" :P:blink:

.

Edited by Triple xXx
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The banks will make a huge profit with a spread like that but I'd be beyond happy with $3.21. 10 cents is even looking good right now. But yep I think Ali is definitely the way to go.

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Why ALI & Dinar Trade is where OUR IQD is headed

By SpareTimeToys on KTFM - 12/06/2010

Got an email from a guy at work who has done his own P.I. on RI exchanges. Sure the banks will wave the "FEEs" but this shows the spread they are killing you with. IMHO sell to ALI and do the wire of funds.

"Just opened up an account at Bank of America today. While we were there I asked the customer service agent what would be the currency exchange on the Kuwaiti Dinar. He said it wouldn't cost anything for bank customers. I said if I had 1 million dinars to exchange what would you pay me to sell them to you. He first googled and found out the rate on forex was 3.5421 per 1 USD. He then went to their page and found out they would buy them for 3.2111 per 1 USD. A 33 cent difference. So if my calculations are correct, 1,000,000 x 3.54 = 3,540,000. Their rate 1,000,000 x 3.21 = 3,210,000, a difference of 330,000. They don't need to charge fees, they are making a killing off of the spread. I'm not saying that Iraqi Dinar spread will be as wide a margin as this but they are making a lot of money. Got my eyes opened!"

I just woke up from a nap..............but you said ..."He first googled and found out the rate on forex was 3.5421 per 1 USD

Don't that mean he just told you what the rate is.for the RV? ( 3.5421 per 1 USD.) or do I need some coffee.....lol....This almost seems like the guy is telling you the RV rate and you so lost in the details of what its going to cost you .................you missed it................ :lol:

My I do need some coffee................lol..........

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I just woke up from a nap..............but you said ..."He first googled and found out the rate on forex was 3.5421 per 1 USD

Don't that mean he just told you what the rate is.for the RV? ( 3.5421 per 1 USD.) or do I need some coffee.....lol....This almost seems like the guy is telling you the RV rate and you so lost in the details of what its going to cost you .................you missed it................ :lol:

My I do need some coffee................lol..........

Maybe I need some coffee ... he is talking the Kuwaiti dinar!!! :(:P:lol::unsure:

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Why ALI & Dinar Trade is where OUR IQD is headed

By SpareTimeToys on KTFM - 12/06/2010

Got an email from a guy at work who has done his own P.I. on RI exchanges. Sure the banks will wave the "FEEs" but this shows the spread they are killing you with. IMHO sell to ALI and do the wire of funds.

"Just opened up an account at Bank of America today. While we were there I asked the customer service agent what would be the currency exchange on the Kuwaiti Dinar. He said it wouldn't cost anything for bank customers. I said if I had 1 million dinars to exchange what would you pay me to sell them to you. He first googled and found out the rate on forex was 3.5421 per 1 USD. He then went to their page and found out they would buy them for 3.2111 per 1 USD. A 33 cent difference. So if my calculations are correct, 1,000,000 x 3.54 = 3,540,000. Their rate 1,000,000 x 3.21 = 3,210,000, a difference of 330,000. They don't need to charge fees, they are making a killing off of the spread. I'm not saying that Iraqi Dinar spread will be as wide a margin as this but they are making a lot of money. Got my eyes opened!"

By now, anyone that does not understand the difference between a "spread" and a "fee" will get screwed, blued, and tattooed by the banks. In this case, isn't it big of them to wave a $15 fee and then whack you with a $300,000 spread. Don't fall for it. The spread is everything.,

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LMAO you really think Ali is only going to charge $150 per million???? He might charge $150, but he will also collect the spread fee.... :blink:

Ali has said over and over he will charge the CBI rate plus the $150/mil. I don't think the CBI rate will be what the banks will offer. Ali is confident he will beat the bank rates. Just sayin'! <_<

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I'd tell the bank that if they charge me a spread like that I'm taking my money and my investments elsewhere. Wheel and deal people. You have the leverage, not them. They want to manage your assets, trust me.

Correct!

The banks want this to happen more than we do!

They need this in a bad way.

Our nation needs this.

This is what will pull our banks out of the tail spin they are in right now and ease the economic situation for everyone.

Everyone talks so much crap about our banks and how bad they are well yes we have had foreclosures and other problems but most of those problems are caused by the people who get loans for homes way above their means.

Is it the banks fault people make bad choices?

To all those people who talk all of the crap about all of the banks in the US I ask this....IF it were not for the US banks who in your family would even own a home? What about a new car?

Do you have the cash to go out and buy a brand new home? You have the cash to walk in and buy a brand new car?

Some do but most do not.

What about your parents home? Your grandparents home?

Look at all the shops and factories....did someone walk up and pay for the land with cash???

Build the factory with cash?

Pay all the starting payroll on start up out of pocket cash?

If it were not for the so called "evil" banks this nation would not be what it is.

We have people on all of these forums writing smartazz stuff talking total crap about the US banking system and they are doing it in a home that they have because of the bank gave them a loan writing on a computer they bought with a credit card sent to them by the bank with full bellies of food bought at the local store which was started and funded by bank loans who sell food grown on farms produced with tractors paid for by bank loans.

If it were not for the United States banking system we would not even be here right now waiting for the RV of the Iraqi Dinar.

The next time you go out and as you drive in the car you got because of the bank gave you a loan just notice all of the farms, homes, shops and factories you pass and remember...NONE of it would even be there if it were not for the "evil" United States banking system.

Just something to think about.

Phoenix

Edited by Phoenix
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By now, anyone that does not understand the difference between a "spread" and a "fee" will get screwed, blued, and tattooed by the banks. In this case, isn't it big of them to wave a $15 fee and then whack you with a $300,000 spread. Don't fall for it. The spread is everything.,

Apologies for my ignorance, but would someone mind explaining a spread so I don't get screwed, blued, and tattooed? :-O

My sincerest "thanks' in advance!

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Correct!

The banks want this to happen more than we do!

They need this in a bad way.

Our nation needs this.

This is what will pull our banks out of the tail spin they are in right now and ease the economic situation for everyone.

Everyone talks so much crap about our banks and how bad they are well yes we have had foreclosures and other problems but most of those problems are caused by the people who get loans for homes way above their means.

Is it the banks fault people make bad choices?

To all those people who talk all of the crap about all of the banks in the US I ask this....IF it were not for the US banks who in your family would even own a home? What about a new car?

Do you have the cash to go out and buy a brand new home? You have the cash to walk in and buy a brand new car?

Some do but most do not.

What about your parents home? Your grandparents home?

Look at all the shops and factories....did someone walk up and pay for the land with cash???

Build the factory with cash?

Pay all the starting payroll on start up out of pocket cash?

If it were not for the so called "evil" banks this nation would not be what it is.

We have people on all of these forums writing smartazz stuff talking total crap about the US banking system and they are doing it in a home that they have because of the bank gave them a loan writing on a computer they bought with a credit card sent to them by the bank with full bellies of food bought at the local store which was started and funded by bank loans who sell food grown on farms produced with tractors paid for by bank loans.

If it were not for the United States banking system we would not even be here right now waiting for the RV of the Iraqi Dinar.

The next time you go out and as you drive in the car you got because of the bank gave you a loan just notice all of the farms, homes, shops and factories you pass and remember...NONE of it would even be there if it were not for the "evil" United States banking system.

Just something to think about.

Phoenix

"Is it the banks fault people make bad choices?"

In part yes, and they had the most control. You used to get denied when you didn't qualify. Now the banks rearange the information to make it fit and help you qualify,

The home buyers were culpable also and there were many fools.

great post, thanks

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Not so quick! I know there will be special rates and offers from Bank of America and Chase Bank as soon as the RV hits.

The banks will do all they can to attract the IQD investors and I have been told all the plans and deals are all set and just waiting for the RV.

The spread reported there is for the Kuwaiti Dinar and the US Banks have no incentive for special deals on the Kuwaiti Dinar but the IQD is something all the banks will make special deals to get new clients and old to exchange the IQD with their bank.

Thats where I will go, to my bank

Phoenix

Got to go with you. I know my bank will do all they can to beat anyones price. I know BOA already does that now on currency transactions. It all depends on the amount you have.. Thanks Phoenix for all...

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Apologies for my ignorance, but would someone mind explaining a spread so I don't get screwed, blued, and tattooed? :-O

My sincerest "thanks' in advance!

SURE....The spread is like a stock. You have a buy price and a sell price. The CBI will have a spread on the RV no one knows what it will be. Lets say 3%(dont know) Ali and the banks will have a spread. This is how they make money Its usually from 2-10% on the price of the value at that time you lock in ( if its a float, not fixed) So if it rv's at $1.00 you would pay 2-10% to the bank and whatever to CBI you would get what is left. You cant negotiate the CBI but you can the banks...Hope this helps

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