TonyDownTheShore Posted June 7, 2011 Report Share Posted June 7, 2011 I've been buying Dinars from my local TD Bank since February, I went to pick up my last order and they told me they are not selling Dinars anymore ,I asked her why, she told me that there's high demand and the bank was loosing money, so I told her, how can that be, she replyed, thats all I can tell you. So I think something's going on. Let's hope ! GO RV !!!! 6 Link to comment Share on other sites More sharing options...
dinarmamma Posted June 7, 2011 Report Share Posted June 7, 2011 Yup, someone on DV has a wife that works at a TD and he posted this morning that she called and told him "no more dinar". I hope it means something but I guess we won't know until something more comes available to us. Thanks for the post Tony. Link to comment Share on other sites More sharing options...
coldwarvet Posted June 7, 2011 Report Share Posted June 7, 2011 It's really interesting you should say that. In virtually every sector of our financial system that I've dealt with lately, I've heard "something's going on." No conspiracy theories, mind you, just that there appears to be some very high level maneuvering occurring, and until that's done everything else is on hold. 1 Link to comment Share on other sites More sharing options...
LaGrange Posted June 7, 2011 Report Share Posted June 7, 2011 Yup, someone on DV has a wife that works at a TD and he posted this morning that she called and told him "no more dinar". I hope it means something but I guess we won't know until something more comes available to us. Thanks for the post Tony. I thought this was a double post at first. Maybe "something's going on!" I'm scared that this dream will end one day...... Link to comment Share on other sites More sharing options...
cooked Posted June 7, 2011 Report Share Posted June 7, 2011 wait for it............................ another bank story...............bam 1 1 Link to comment Share on other sites More sharing options...
429 Posted June 7, 2011 Report Share Posted June 7, 2011 Just heard the same thing somewhere else. Let's hope. Link to comment Share on other sites More sharing options...
LaGrange Posted June 7, 2011 Report Share Posted June 7, 2011 Just heard the same thing somewhere else. Let's hope. Well keep in mind it might not be good either. I've been on this ride 7 years and I'm afraid to get off. Link to comment Share on other sites More sharing options...
Hamels Posted June 7, 2011 Report Share Posted June 7, 2011 My local TD Bank in Philly stopped selling Iraqi dinar on May 26th, on May 28th I picked up the dinar I ordered on May 20th Link to comment Share on other sites More sharing options...
alston82 Posted June 7, 2011 Report Share Posted June 7, 2011 Another untrue bank story Here we go again 3 30 Link to comment Share on other sites More sharing options...
jaykay Posted June 7, 2011 Report Share Posted June 7, 2011 I know theres something going on.. Link to comment Share on other sites More sharing options...
Buckeye Pilot Posted June 7, 2011 Report Share Posted June 7, 2011 Sorry to say....... At this point in the game when I see a "Bank" Story I speed up my gaze to find something worthwhile TO read.! 1 1 Link to comment Share on other sites More sharing options...
LEXICON Posted June 7, 2011 Report Share Posted June 7, 2011 Not sure i understand the "high demand, losing money" don't they have a mark-up? there for they are makin' a killing? Thanks for the post. Link to comment Share on other sites More sharing options...
Jaxinjersey Posted June 7, 2011 Report Share Posted June 7, 2011 Hey Tony... just replied to Andy3978 about the same thing, he just posted: Andy, I have bought from TD here in NJ too, and wasn't planning on buying more... I'm good to go. My feeling on the banks is that yes, it is not lucrative enough for them anymore at this time. Perhaps it has run it's course, bank after bank. But also, as I recall on my purchase statements... they always covered themselves with a disclaimer about the currency not being sold as an investment. Not that it can't be an investment... but as far as they were concerned, it was being sold as an exchange, for travel purposes. But, what I did with it once I purchased was none of their business. Now, the corporate decision makers may feel it has just turned into too much of an investment device, and simply decided not to handle it anymore... as we know many banks never even ventured that far. And/Or, as we all wish to believe... dinar is becoming difficult/bothersome to procure, and that they truly have an inkling that something, one way or another, may be happening soon. Mind you all... I said inkling!!! Read more: http://dinarvets.com/forums/index.php?/user/20836-jaxinjersey/#ixzz1Od42yRAn Link to comment Share on other sites More sharing options...
Bobbydee Posted June 7, 2011 Report Share Posted June 7, 2011 When everyone stops selling then I would find it real interesting. The bank may have just decided to no longer sell dinar. When it is no longer available anywhere then it's time to get real excited and I mean EXCITED!!!!!! Whoo hoo!!!! Go RV Thanks for sharing. God Bless Semper Fi Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted June 7, 2011 Author Report Share Posted June 7, 2011 Not sure i understand the "high demand, losing money" don't they have a mark-up? there for they are makin' a killing? Thanks for the post. I asked the samething and she wouldn't elaborate, that's all I can say, 2 Link to comment Share on other sites More sharing options...
cooked Posted June 7, 2011 Report Share Posted June 7, 2011 If you tell the bank the dinar is for investment they will not sell. Just tell them you have some business to attend to in iraq. Worked for me in N.J. last Friday. Link to comment Share on other sites More sharing options...
LEXICON Posted June 7, 2011 Report Share Posted June 7, 2011 I asked the samething and she wouldn't elaborate, that's all I can say, Very curious, the earlier post about another TD bank stated they were told it's not worth it. What other currency are they makin' a lot of $$ on mark-up? Dinar is probably their #1 seller. Link to comment Share on other sites More sharing options...
jeepguy Posted June 7, 2011 Report Share Posted June 7, 2011 hehehehe better run out and buy another currency from another country before they run out too 1 Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted June 7, 2011 Author Report Share Posted June 7, 2011 Very curious, the earlier post about another TD bank stated they were told it's not worth it. What other currency are they makin' a lot of $$ on mark-up? Dinar is probably their #1 seller. I agree with you it doen"t make sense. Link to comment Share on other sites More sharing options...
dog53 Posted June 7, 2011 Report Share Posted June 7, 2011 Thanks for the post. Nothing like a good bank story. +1 Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted June 7, 2011 Author Report Share Posted June 7, 2011 Hey Tony... just replied to Andy3978 about the same thing, he just posted: Andy, I have bought from TD here in NJ too, and wasn't planning on buying more... I'm good to go. My feeling on the banks is that yes, it is not lucrative enough for them anymore at this time. Perhaps it has run it's course, bank after bank. But also, as I recall on my purchase statements... they always covered themselves with a disclaimer about the currency not being sold as an investment. Not that it can't be an investment... but as far as they were concerned, it was being sold as an exchange, for travel purposes. But, what I did with it once I purchased was none of their business. Now, the corporate decision makers may feel it has just turned into too much of an investment device, and simply decided not to handle it anymore... as we know many banks never even ventured that far. And/Or, as we all wish to believe... dinar is becoming difficult/bothersome to procure, and that they truly have an inkling that something, one way or another, may be happening soon. Mind you all... I said inkling!!! Read more: http://dinarvets.com/forums/index.php?/user/20836-jaxinjersey/#ixzz1Od42yRAn Great reply jaxinjersey, Link to comment Share on other sites More sharing options...
smee2 Posted June 7, 2011 Report Share Posted June 7, 2011 Consider that the banks sell currency on a percentage fee basis. It is not a flat fee. They don't make say five bucks for every currency transaction. They make a percentage according to amount and value of currency. If the currency value is very low, as the dinar is now, and people were buying in lots of transactions, as a lot here do by buying what they can each payday instead of one big transaction, then the bank is paying wages and overhead expenses based on a very low percentage of currency value, and a high volume of transactions, each one costing them money. So, it makes sense at some point, to stop selling what does not make a profit for them. Basis business 101. smee2 1 1 Link to comment Share on other sites More sharing options...
LaGrange Posted June 7, 2011 Report Share Posted June 7, 2011 Regardless of what is said to the customers, banks are stopping. My friend at the RBS trading desk never got back to me when I inquired with him (asked him if he knew anything/he has 500k). He either thinks I lost my freaking mind or is not keen to losing his 6 figure job over any kind of disclosure-not to mention a prison jumpsuit. I will not contact him about that again as a common courtesy. My personal banker at Citi would not quote me a rate through TBI. She said they would be a 3rd party and I could do better at JP and 5/3. The 5/3rd didn't make sense to me but I let it go. Prior to telling me this, she questioned me for 20 minutes about how I obtained the amount I have etc. etc. It seems money laundering is a real concern. Now the above 2 scenarios are true and happened to me last week after Randalin claimed he exchanged through JP. I couldn't confirm a rate so I can't call his claim bs. As a former member of InvestorsIraq and IraqiDinarInformation, I let this thing ride for several years. I started checking on things about 4 weeks ago when my brother in law (whom I gave 1m in dinar) called me with some jibberish that his friend's brother at the bank told him something was up. Now, wtf is up?? Million dinar question. Link to comment Share on other sites More sharing options...
TonyDownTheShore Posted June 7, 2011 Author Report Share Posted June 7, 2011 Yup, someone on DV has a wife that works at a TD and he posted this morning that she called and told him "no more dinar". I hope it means something but I guess we won't know until something more comes available to us. Thanks for the post Tony. You're welcome. Link to comment Share on other sites More sharing options...
LaGrange Posted June 7, 2011 Report Share Posted June 7, 2011 Consider that the banks sell currency on a percentage fee basis. It is not a flat fee. They don't make say five bucks for every currency transaction. They make a percentage according to amount and value of currency. If the currency value is very low, as the dinar is now, and people were buying in lots of transactions, as a lot here do by buying what they can each payday instead of one big transaction, then the bank is paying wages and overhead expenses based on a very low percentage of currency value, and a high volume of transactions, each one costing them money. So, it makes sense at some point, to stop selling what does not make a profit for them. Basis business 101. smee2 They make profit either way on the spread, buying or selling. Link to comment Share on other sites More sharing options...
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