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So, if RV is Thursday, why wait to cash in on Monday

uncs

By uncs,
in RV & Dinar Questions

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TimS Newbie

TimS

Posted
Posted

Paper work.......can't do anything until the paperwork is in place. It takes a certain amount of time for the Feds to post and disseminate info to rest of country. Also, there are mechanisms that need to take place with the Forex....jusr because shabibi announces a rate does not automatically mean the currency magically appears on the Forex. Procedures are in place, but it takes a few hours for everything to get done. I've "heard" that the system, be it the CBI, Fed, IMF and/Forex needs 72 hours to get the physical stuff completed. Not sure if that is true, but I'm sure it does take some amounbt of time to go live? JMO B)

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DmsC Newbie

DmsC

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Posted (edited)

Paper work.......can't do anything until the paperwork is in place. It takes a certain amount of time for the Feds to post and disseminate info to rest of country. Also, there are mechanisms that need to take place with the Forex....jusr because shabibi announces a rate does not automatically mean the currency magically appears on the Forex. Procedures are in place, but it takes a few hours for everything to get done. I've "heard" that the system, be it the CBI, Fed, IMF and/Forex needs 72 hours to get the physical stuff completed. Not sure if that is true, but I'm sure it does take some amounbt of time to go live? JMO B)

I have a hard time believing that in this day and age that it would take that long for things to "be set up" We aren't running punch cards through machines anymore. JMO too that once the switch is thrown that the ability to cash in would be almost instant. If I have Pounds and want to trade them in I get the rate of the day as long as the rate of the day is what I want to trade in for I sell if not then no it doesn't take days for the rate of the pound to show up different from one day to the next. just saying.

Edited by DmsC
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ctoddy Newbie

ctoddy

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I know it's the holidays but abrate is a rate right? Unless ofcourse hey wait until Thursday night? Flip the switch shabbs

To me it makes a TON of sense to wait. Think about it. If the lower demoninations of currency were already at the banks in Iraq every Tom, ****, and Abdul bank teller would know. Also, if you RV today and I'm in Iraq I've been going to the shop and getting bread, milk, and cheese which cost me $25,000 dinar. Now it's worth how much??? How does the shop keeper make change? The thing was just announced this morning. He doesn't have the lower amounts either. How in the world could anyone expect this to RV and be ready to go in 2 seconds. Again, this isn't RVing for us. It's about Iraq.

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jack Newbie

jack

Posted
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Paper work.......can't do anything until the paperwork is in place. It takes a certain amount of time for the Feds to post and disseminate info to rest of country. Also, there are mechanisms that need to take place with the Forex....jusr because shabibi announces a rate does not automatically mean the currency magically appears on the Forex. Procedures are in place, but it takes a few hours for everything to get done. I've "heard" that the system, be it the CBI, Fed, IMF and/Forex needs 72 hours to get the physical stuff completed. Not sure if that is true, but I'm sure it does take some amounbt of time to go live? JMO B)

Bull Hockey!

What happened to the news about the Iraqi banks being on the SWIFT system?

Taking 2-3 days is Bull Hockey!

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Deep sea Newbie

Deep sea

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FYI Wells Fargo is not dealing with Dinars.I just went there this morning to talk my friend,who is also the bank manager,to get the scoop on this so called emergency money the banks had to have and its all rumors.How ever they did get notice that they are not going to deal with Dinars which is good in a backwards sort of way,at least there is a buzz going on in the banking world.I'm not trying to be a buzz kill just thought this info should be out there.By the way after telling him all the info I got from the Washington post as well as other sites he bought in and will up date me if he hears anything else about the Dinar.GOOOOOOOO RV.

FYI Wells Fargo is not dealing with Dinars.I just went there this morning to talk my friend,who is also the bank manager,to get the scoop on this so called emergency money the banks had to have and its all rumors.How ever they did get notice that they are not going to deal with Dinars which is good in a backwards sort of way,at least there is a buzz going on in the banking world.I'm not trying to be a buzz kill just thought this info should be out there.By the way after telling him all the info I got from the Washington post as well as other sites he bought in and will up date me if he hears anything else about the Dinar.GOOOOOOOO RV.

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ctoddy Newbie

ctoddy

Posted
Posted

FYI Wells Fargo is not dealing with Dinars.I just went there this morning to talk my friend,who is also the bank manager,to get the scoop on this so called emergency money the banks had to have and its all rumors.How ever they did get notice that they are not going to deal with Dinars which is good in a backwards sort of way,at least there is a buzz going on in the banking world.I'm not trying to be a buzz kill just thought this info should be out there.By the way after telling him all the info I got from the Washington post as well as other sites he bought in and will up date me if he hears anything else about the Dinar.GOOOOOOOO RV.

I totally believe that your Friend told you they were not going to work in the Iraq Dinar. However your friend is wrong. Once the currency is recognized, at whatever value, they will allow you to buy it and sell it back. They work in basically every currency on the planet. They wouldn't discriminate against the Iraq Dinar when they work in every other currency in the Middle East. He's a local branch manager. He doesn't deal in currency exchange unless he's at an International Teller Site.

All these bank rumors are crap. No one at a local branch is going to know anything. Maybe the CEO of Wells Fargo, but no one at the local level knows crap about this good or bad.

Wells Fargo Currency Order

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