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czinser (Ariel 12-5-11 Contact states the rate is at the banks


trooper
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* czinser (Ariel 12-5-11 Contact states the rate is at the banks at $5.71): OOM 12/05/11

December 5th, 2011 08:49 pm

I am going to keep up my faith and believe any second now. The Intel givers are just giving what they get. We will wait till it shows on the teller screens. Unless you have Intel please keep your negative comments to yourself !

Blessings, CZ

Ariel144 posted in 3S’s chat Mon night – from dinar recaps

12/05/2011 _[ariel144] 6:49 PM pat: 6:43 PM Contact states the rate is at the banks at $5.71 no clue when we see it live… 6:49 PM (contact) has a friend who’s a banker and she had him call a “bank to bank” 800 number – he called her back and said the rate is loaded and it’s showing $5.71 6:49 PM that’s what got reposted (was posted on accident on my site originally – was only supposed to be pm’d to a few people)

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That was posted on dinar.guru.com last night...

I hope they are right but I just cannot see this being RVed much more than what Iraq value was before we invaded plus inflation.

They(the gurus) keep throwing rates around. Lets just say the dinar RV's @ $5.71 i.e. shows up on the bank screens as $5.71. Is that the buy or sell rate?

If I go to my bank today the rate of the Kwaiti Dinar shows up on screens as 1 Kuwaiti Dinar = 3.608805 US Dollar (pulled from forex rate at time of posting). Which is rate the bank would buy at. If they were to sell me Kwaiti Dinar I believe the sell rate would be closer to $4.41. So the rate the guru's keep thowing around reflects what??? or do they even know...

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571 is Iraq's bank code!! It's not the rate. Is that so hard to comprehend?

This is not the first time $5.71 has been thrown around. In fact if I dig through I can find where $5.71 +/- 45 cents or close to 45 cents as memorey serves.

So could you please show and advise the bank code of 571 so we can better comprehend the situation.

Again I dont believe the rate being tossed around just asking you to show us the 571 bank code to support your postition on this.

Edited by steveinfla
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This is not the first time $5.71 has been thrown around. In fact if I dig through I can find where $5.71 +/- 45 cents or close to 45 cents as memorey serves.

So could you please show and advise the of 571 so we can better comprehend the situation.

Again I dont believe the rate being tossed around just asking you to show us the 571 bank code to support your postition on this.

There are Swift codes, Sort codes, BIC codes, Branch codes, Location codes, Country codes, ect. I don't claim to be a banking expert by any means, but I know people who are. There's probably many on this board. I was told that 571, 572, 361 ect are some kind of code that identifies IQD, however I don't think its the same number at every bank for some reason. So when I see outrageous rates like 5.71, I assume they are mistaken or confuse it for some kind of banking code.

The SWIFT code is 8 or 11 characters, made up of:

4 letters: Institution Code or bank code.

2 letters: ISO 3166-1 alpha-2 country code

2 letters or digits: location code

if the second character is "0", then it is typically a test BIC as opposed to a BIC used on the live network.

if the second character is "1", then it denotes a passive participant in the SWIFT network

if the second character is "2", then it typically indicates a reverse billing BIC, where the recipient pays for the message as opposed to the more usual mode whereby the sender pays for the message.

3 letters or digits: branch code, optional ('XXX' for primary office). Where an 8-digit code is given, it may be assumed that it refers to the primary office.

SWIFT Standards, a division of The Society for Worldwide Interbank Financial Telecommunication (SWIFT), handles the registration of these codes. For this reason, Business Identifier Codes (BICs) are often called SWIFT addresses or codes.

Wasnt 367 the 2-3 months ago, when $3.67 was being tossed around as the rate ? I can understand how the rate ( guess ) would change, but I dont see how the country code would change.

Depends on the country and/or bank they are looking at. As far as I know anyway.

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Troop, you forgot to mention this post ids for entertainment only. A RV of 1-1 is the highest I could imagine. If it hits $5.71 I might have a heart attack.

I'll be in the hospital room next to yours recovering from the same heart attack plus a bursted brain aneurysm if it POPS at over a buck!!! :-)

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