Wells Fargo published this

[USHistoryteacher]

Hello all,

I found this article published by Wells Fargo. I'm not so much focusing on their advise as I am the fact that they clearly state the Iraqi Dinar is being sold by banks and other currency traders. I thought this was good confirmation from a published bank source. I figure by now you have all seen it...however, I wanted to make sure. Go RV!

Iraqi Dinar as a currency investment Feb 8 20111.pdf

[rdb]

[USHistoryteacher]

Hello all,

Found this published by Wells Fargo. I'm not so worried about their advise. Rather, they confirm questions about banks selling the dinar. Figure you've read this...but wanted to make sure you had a credible source. Go RV!

Iraqi Dinar as a currency investment Feb 8 20111.pdf

[leola]

GOOD PIECE,,,,INTERESTING READING.

[Nelson0528]

Yep, another attempt by the banks to keep your investment dollars/business "In House". You can bet they will eventually be offering the IQ Dinar as well; as soon as it becomes a tradeable currency, and the markets/demand create a lucrative return on it for them.

Edited February 10, 2011 by Nelson0528

[Nitrobuzz]

It's interesting how most Banks don't sell/buy dinar and then you have an exception like Fifth Third Bank who sells dinar all day, every day. You hear a lot of noise about the dinar being a "scam" from the banks that don't sell the IQD. But, I'm sure as soon as it RV's they'll be jumping in so fast they'll tripping over themselves to have your IQD business. I can promise you that I won't be moving my hard earned Dinar gain to another bank once this thing hits. O no, not me!

[AudiS4]

Nice find!

We suggest many recommendations that we believe have much less liquidity, fraud and principal risk.

Well of course you do! How would WF make money on the dinar? They want you to buy THEIR investments.

The author brings up the $3:1 before the war scenario (yet again - I'm sick of this one) claiming that it was actually set by that bad, bad man and it really wasnt worth that. What EVERYONE fails to understand is from the 1920's all the way up to "whenever you claim saddam made his own value", the IQD was worth FAR more than the USD. Unless saddam had control back in the 1920's, before he was born, HE DIDN'T SET THAT RATE!

The author also claims that the future of Iraq is unknown and could fall back into violence. Get real people, you really think the US would have wasted all that $$ and lives to simply give up when things start to veer off track? No. They're going to do whatever they need to do to KEEP IRAQ ON THE PATH TO PROSPERITY!

The chart the author uses made me laugh. It proves you can make statistics look however you want. The graph has a "downward" trend, implying to the average (uninformed) audience that "look, the value is going down!" when in fact it's quite the opposite.

In light of the Iraqi government's still tenuous control, we believe the probability is low that the Iraqi dinar will revalue in the foreseeable future.

So what he's saying is "yes it will revalue, but not anytime soon. But maybe in a year or so it will" as if we simply cant wait 1, 2, 5, 10 years for this to come to fruition.

I suppose he wrote it as best as he could to downplay the dinar... but I'm still sticking to my stash

Edited February 10, 2011 by AudiS4

[dinardlee]

What I don't understand is they just published an article on how Iraqi Dinar is an extremely dangerous and potentially a fraud investment and now they publish this?

[alan_coaks_3]

how comes i kant find this on the wells fargo site at all ?

[MSgt of Marines]

Hello all,

Found this published by Wells Fargo. I'm not so worried about their advise. Rather, they confirm questions about banks selling the dinar. Figure you've read this...but wanted to make sure you had a credible source. Go RV!

This is a great reference to have Thanks for attaching it here.

[Spoolin]

Have you guys noticed all the articles coming out lately from Banks and the such that are trying to discourage people from buying dinar? I'm not talking about just some bloggers opinion piece, I'm talking about stuff from Banks and things. I believe this is some sort of ruse because we are getting very close and some may not want us getting so rich..........

[DOUBLE B 65]

Hello all,

I found this article published by Wells Fargo. I'm not so much focusing on their advise as I am the fact that they clearly state the Iraqi Dinar is being sold by banks and other currency traders. I thought this was good confirmation from a published bank source. I figure by now you have all seen it...however, I wanted to make sure. Go RV!

OBVIOUSLY, you did not read this article. It is unreal to me that your statement, " clearly state " was after you had a couple of drinks.

Here is the link, anyone else care to read ?

LOL, the admin doesn't allow links to this website.

Attached File(s)

Iraqi Dinar as a currency investment Feb 8 20111.pdf

Sorry, I can't copy and past the pdf file link, but it is above.

Edited February 12, 2011 by DOUBLE B 65

[Rayzur]

:)I would guess the guy wrote this in recognizing the dinar to be a super hot topic.... this of course was likely fueled by the thousands of us on these forums calling them daily in total hysteria at even the slightest blip on the RV radar…..

Of course there was the one night that people were actually racing to grocery stores in the middle of the night to get calling cards so they could call some bank in Kuwait..... I think the tally was in the thousands by the end of that shift, with answers running the whole gamete despite calling the exact same bank. There are other thousands of us who have traipsed through the bank asking about this thing called the dinar…. And I am thinking any astute banker would probably notice there was something going on after number 3099 person walked in with the same questions about dinar and RV….

So now he has to write a news letter and sound somewhat coherent in formulating his opinions. He didn’t reference one current event evenly remotely connected to this…. Indeed, you’ll note his references are about as dated and superficial as can be….. about as far as the first Google entry with a lot of plausible words that seem to make sense….And like was just said earlier…. He is selling WF products, understands those products,, and makes money off the products he’s paid to understand and sell daily…

Its pretty clear he used metrics that he understands relative to an index he can appreciate and really didn’t’ do much research beyond a few Google hits….and even that he missed in using such dated material to form his analysis…. I am sure that his level of understanding what he sells relative to his knowledge about the dinar would lead him to make the exact conclusions he did…. Pretty straight up…. They were made based upon a false foundation and limited understanding framed by knowledge of products completely unrelated to what is happening to the dinar. He completely missed this to be a dynamic rather organic process, and treated more like the static products he offers….

Not slamming WF products in any sense and actually I like the bank…. Just saying that this analysis is fairly predictable given the variables he used to formulate the question and the index framing his analysis…

I’d be suspicious had he said anything different…

Oh and he’s wrong, and this will RV and perhaps he will then understand the dynamics of what is unfolding before him….