Wells Fargo - personal banker comments

[Dinar Buddy]

Just returned from an early breakfast I had with now a very good friend of mine working as a Personal Bank,Vp, for the lat 10 years and prior 12 years in currency exchange with for a private investment company. He said the IQD is still a minimum of 2 years off. There will be arise in value about 3% to 5% from the current rate. He says we are following the wrong info or intel. Money is not emotional about the people of Iraq's needs. Money is not going to change because the US or Euro countries need the money. It is very global the way it is positioned. The country of Iraq still no investor power. Oil is not enough... He states,"where are the loans, interest earning services, no real infrastructure, and other indicators that prove the value of the currency?"

This is extremely high risk with no return. He suggested not to invest. He has 3 customers in the last 6 months that have over purchases IQD that are not able to make house payments, getting their bills paid on time, and/or keep their accounts to an acceptable rate. He feels these folks will be the first to fully crash and burn as the economy tightens up.

I completely stopped buying additional dinar 6 months ago and was finding myself over spending as well.

Be very careful & wise. Not every investment can turn a positive return.

Let's go RV

[MoonRover]

In that case wake me when we get there..............

[mariejose]

YOU KNOW WHAT---I'M NOT HEARING A THING THIS BANKER HAS TO SAY. AS FAR AS I'M CONCERNED THIS IS JUST AN OPINION, THAT'S ALL. I'M WATCHING THE ACTIONS GOING ON IRAQ-TO ME THAT IS A VERY LOUD MESSAGE. FULL SPEED AHEAD. AS FOR THOSE WHO HAVE OVERSPENT ON DINAR INVESTING WELL WHAT CAN I SAY. IT IS VERY UNFORTUNATE. BUT COMMON SENSE MUST ALWAYS REMAIN IN THE FOREFRONT OF OUR DECISIONS.

[mojack]

Thanks Dinar Buddy - Does he have any particular insight? We purchased enough as a long term investment and chose not to buy anymore "PERIOD"! We only need a decent return...

[Choppermike]

Just returned from an early breakfast I had with now a very good friend of mine working as a Personal Bank,Vp, for the lat 10 years and prior 12 years in currency exchange with for a private investment company. He said the IQD is still a minimum of 2 years off. There will be arise in value about 3% to 5% from the current rate. He says we are following the wrong info or intel. Money is not emotional about the people of Iraq's needs. Money is not going to change because the US or Euro countries need the money. It is very global the way it is positioned. The country of Iraq still no investor power. Oil is not enough... He states,"where are the loans, interest earning services, no real infrastructure, and other indicators that prove the value of the currency?"

This is extremely high risk with no return. He suggested not to invest. He has 3 customers in the last 6 months that have over purchases IQD that are not able to make house payments, getting their bills paid on time, and/or keep their accounts to an acceptable rate. He feels these folks will be the first to fully crash and burn as the economy tightens up.

I completely stopped buying additional dinar 6 months ago and was finding myself over spending as well.

Be very careful & wise. Not every investment can turn a positive return.

Let's go RV

Unless your friend has a direct link to the Rothchild empire, his speculation about this speculation is as solid as anyone else on these boards. I can almost guarantee you that it will be a Rothchild call and they will do it like they have done it for a couple of centuries, on their time and when they can make a killing. The other infrastructure items that you elude to will come naturally after and only after their currency is OF real value.

[sxsess]

Your banker is obviously ignorant to this investment. I've known investment bankers in high positions that have no clue. Don't let the VP status fool you.

[sonny1]

us or euro need the money? ok then, that is about 3 years ago already

[caz1104]

The only thing i can to this post is ........DUH. You can talk to multple Financial Advisors & Bank Managers or whoever you want and you may get muliple opinions,nothing new. Do your own research,talk to someone you trust and form your own opinion on ANY investment.These are my opinions and I support them

[Dinar Buddy]

My friend gives no insight or intel. His role is serving the extremely high demanding clients... The very wealthy. If a client needs are specific investments they have resources to refer a client.

His only comments are money is very slow to change, but the right customers investing in currency understand a 1% to 3% return over a very long period of time.

I will be in Arizona tomorrow on business and will be stopping by two Chase banks I have also achieved a confident level of friendship with to discuss what they know about the current happenings of the IQD.

Let's RV

[bamagirl]

How did your friend get Shab's to answer his phone to find all this out?? The number I call goes straight to voice mail and says 'the user you are calling has a voice mailbox not yet set up' I can't even leave a message for him to return my calls...I'm starting to think it's the wrong number cuz it's in English at that. JK... I hope your friend is wrong...go RV!!

[KeepinTheFaith]

All anyone can do right now is speculate. This investment could very well be a few years off but it could be right around the corner too. Let's hope for the latter! Go RV!

[tommy17]

YOU KNOW WHAT---I'M NOT HEARING A THING THIS BANKER HAS TO SAY. AS FAR AS I'M CONCERNED THIS IS JUST AN OPINION, THAT'S ALL. I'M WATCHING THE ACTIONS GOING ON IRAQ-TO ME THAT IS A VERY LOUD MESSAGE. FULL SPEED AHEAD. AS FOR THOSE WHO HAVE OVERSPENT ON DINAR INVESTING WELL WHAT CAN I SAY. IT IS VERY UNFORTUNATE. BUT COMMON SENSE MUST ALWAYS REMAIN IN THE FOREFRONT OF OUR DECISIONS.

It is his opinion ,and i agree 100 percent what you said. I heard all kinds of bank stories and bankers are as much in the dark as everybody else. Just read the news and follow the money, things should get very interesting this month.

[mrref]

YOU KNOW WHAT---I'M NOT HEARING A THING THIS BANKER HAS TO SAY. AS FAR AS I'M CONCERNED THIS IS JUST AN OPINION, THAT'S ALL. I'M WATCHING THE ACTIONS GOING ON IRAQ-TO ME THAT IS A VERY LOUD MESSAGE. FULL SPEED AHEAD. AS FOR THOSE WHO HAVE OVERSPENT ON DINAR INVESTING WELL WHAT CAN I SAY. IT IS VERY UNFORTUNATE. BUT COMMON SENSE MUST ALWAYS REMAIN IN THE FOREFRONT OF OUR DECISIONS.

Could not have said it better. beside what authority does this banker have on Iraq dinars..

[cbs71]

Just returned from an early breakfast I had with now a very good friend of mine working as a Personal Bank,Vp, for the lat 10 years and prior 12 years in currency exchange with for a private investment company. He said the IQD is still a minimum of 2 years off. There will be arise in value about 3% to 5% from the current rate. He says we are following the wrong info or intel. Money is not emotional about the people of Iraq's needs. Money is not going to change because the US or Euro countries need the money. It is very global the way it is positioned. The country of Iraq still no investor power. Oil is not enough... He states,"where are the loans, interest earning services, no real infrastructure, and other indicators that prove the value of the currency?"

This is extremely high risk with no return. He suggested not to invest. He has 3 customers in the last 6 months that have over purchases IQD that are not able to make house payments, getting their bills paid on time, and/or keep their accounts to an acceptable rate. He feels these folks will be the first to fully crash and burn as the economy tightens up.

I completely stopped buying additional dinar 6 months ago and was finding myself over spending as well.

Be very careful & wise. Not every investment can turn a positive return.

Let's go RV

Another bank story to start the new year. Just because he is a VP doesn't mean squat. Tell you friend, thanks for playing but he's wrong.

[winterset]

I still think the banking world is going down and they just want to take us all with them. There are too many conflicting bank stories to trust any one of them.

I personnally believe that the RV will be the beginning of their investor power and infrastructure rebuilding, RV first then the other follows. But that is JMHO.

[Nelg]

Why, oh why, do we start asking and calling the local bank to ask for their advise when we have already invested? We don't need their advice; we have already made our decision. Most of them have little or no knowledge of the IQD as a speculative investment.

I could care less what my banker thinks. If he doesn't like what I do with my money, tough! If he is all for it, great! But I did not get into this investment because of him, and I am not getting out because of him. The bank will simply handle my money when I get it, but I will consult others for advice.

I'm not down on bankers, but just want to use them properly.

[thechosenone]

My friend gives no insight or intel. His role is serving the extremely high demanding clients... The very wealthy. If a client needs are specific investments they have resources to refer a client.

His only comments are money is very slow to change, but the right customers investing in currency understand a 1% to 3% return over a very long period of time.

I will be in Arizona tomorrow on business and will be stopping by two Chase banks I have also achieved a confident level of friendship with to discuss what they know about the current happenings of the IQD.

Let's RV

You know folks are going to bash good intel as much as they are bad. No matter what anyone says, good or bad, there will be someone who knows better, or more. Your post ( to me ) is probably the most sensible one i have read in a while. Everyone keeps running down people that dont say anything but this week, or tomorrow, or 48 hrs, or whatever they want to hear that week. But most intel to this point about it RVing weekly has been absolutely 100% wrong up to this very point from this time last year ( when I started following ) till now. I am so sick of reading " Im not hearing anything negative" from all of the GURUs. That means absolutely nothing. As long as there contunues to be no RV or change in the value of the Dinar, you friend is the ONLY one who is 100% correct.

I believe you post as much or more than I believe any of them!

[TRC]

Why, oh why, do we start asking and calling the local bank to ask for their advise when we have already invested? We don't need their advice; we have already made our decision. Most of them have little or no knowledge of the IQD as a speculative investment.

I could care less what my banker thinks. If he doesn't like what I do with my money, tough! If he is all for it, great! But I did not get into this investment because of him, and I am not getting out because of him. The bank will simply handle my money when I get it, but I will consult others for advice.

I'm not down on bankers, but just want to use them properly.

Agreed !!!

[Mongo]

[tcsace]

So, what you are saying is that you friend, a WF VP, has wealthy clients who bought so much IQD that they cant even make their house payments, pay their bills on time or keep their accounts at an acceptable rate ? Not nit-picking and don't really have a problem with the timeline. Just wanted to point out flaw in the story ( interpretation ) as told.

[zigmeister]

Nope this bank story just won't do!

[Beux]

Unless your friend has a direct link to the Rothchild empire, his speculation about this speculation is as solid as anyone else on these boards. I can almost guarantee you that it will be a Rothchild call and they will do it like they have done it for a couple of centuries, on their time and when they can make a killing. The other infrastructure items that you elude to will come naturally after and only after their currency is OF real value.

Like with every other investment deal that the Rothchild family has been involved with They play both sides- They set it up and dispell the other and bang when everyone has sold they clean up-I dont care if the market falls and we claim as a country a bankruptcy-I will keep the paper I will tell my kids that this is an oddity and when it turns around then cash it in.Get property and settle on it dont move even when it looks good to go and keep it in the family for years to come. This will insure them. However the way everything is going it would make great Out house paper- That being said- If you do cahs in and make great money watch what you say what you buy and what you do- Dont tell anyone and keep your mouth shut as a kid who gets mad will send you down the drain and he/she will collect- I have seen this happen many times-so i see alot from alot of veiws. ---I hope it RV,s but if it doesnt then i had some some pretty nifty dreams. If the economy is bad here its gotta be worse there- So when its done wake me up - unless i get shook before-

[joseroque]

Just another run-of-the-mill bank story. He said oil is not enough! How about oil, gas and minerals! Iraq will be doing better than Kuwait is right now and may even be better than Saudi Arabia later on.

Iraq will be rolling in money and I just hope it reaches the common man in Iraq and not just the wealthy there.

From all the reading I have done of all the posts here about bankers, all I get is that they don't have a clue as to what is going on with the dinar. They will be mighty surprised when the get the "cash-in" processing instructions! Then they will be believers but it will be too late for them.

I feel sorry for those who exceeded their financial limitations when buying dinars and I just hope that it RV's soon so they can get out of the holes they dug for themselves.

[Elixirbaby]

I have found that most bankers are ultra conservative , so unless he knows shabibi it's another persons opinion.

Go RV

[despain]

Your friend needs to read the information from the IMF in regards to Iraq. The rate is artificial. It isn't hard to do the research. The problem with bank stories is they are all based on opinion or fiction. I've got a good friend who "hit" the home run years ago. The one thing he can't stand...is bankers. LOL! Just read the documents. No disrespect, but this viewpoint is ridiculous. I have no idea when it will happen, and I don't think it is going to be high, but these people need to start paying their bills. It really is that simple. And yes...oil does that. I am from Midland, Texas. You should go visit. That town is BOOMING right now. Guess what they do? OIL...Oh yah, so does gold, diamonds, minerals, the location of the Country in the middle east from a trading standpoint, president of OPEC in 2012, Arab Summit in March 2012, the agriculture, the rebuilding process that everybody wants a piece of, and the fact that WE went there to do this. LOL! We've done it before, and we will do it again. It really is that simple. Thanks for the post!