Wells Fargo Update

[Dinar Buddy]

Earlier this week I met with two different Wells Fargo locations. I have a really close friend with the Personal Bank. 20 years experience, 8 years as a foreign currency expert with an extremely creditable source. I felt I needed more intel as I wanted to understand why the IQD may never or could still be 2 years away from an international realized currency. I brought us the Iraq economy growing, the Isx is over 5% growth, the banking in Iraq is reporting a single digit growth, the government is in place and working... Blah, Blah, blah as he laughed at me. He calls this "MESS" an Iraqi pumped notion based on Iraq will reset back to pre-war exchange rate. He stated again that is not how currencies work...

Part 1: this is a hyperinflation situation where we are paying as high as 15% premium for all IQD we purchase and we are selling a double digit inflation in the coming months in Iraq, hence every month we are losing value. His example was if a person purchase things that decline in value after purchase that over time you will ultimately broke. Hes shared that you see currencies like the Euro moving and is fully accepted making constant adjustments. Not happening with the IQD. I asked his position on the IQD and he gave me the following number to call 1-800-626-9430.

Part 2: he stated investors are seeking purchase things that go up in value and don't decline. I asked for more information... He used the example of an expensive watch like Tiger wears, or any brand, you pick it. You purchase and believe in that watch's value at $5,000... In 6 months they will be less to return in value, say about $1,000 and in a year only woth $200... Invest in real assets like metals, minerals, stocks, real Estate, ect.

I will update everyone later today on my recent visit to Arizona to meet with a few Chase bankers (friends).

Last, this currency seems to be a few years off, so I wait.

Let's go RV

[DinarintheAZDesert]

Ouch, this does not sound like the news I wanted to hear. Go RV...

[LS1Hawk]

I don't care how much experience this banker may have in foreign currency, I would bet all my IQD that this guy has not followed what has been going on in Iraq, has no clue of iraqs involvement with the IMF and the UN to get the dinar back to it's former "Glory", or what laws it has passed to get back on track. We here know what is going on.

Nuff said !

[bamagirl]

I am sorry to ask but what are you getting out of trying to turn us off the dinar....if you think this is going nowhere then you should sell or put your dinars away and not worry about them....would you feel bad if because of your 'intel' someone sold their dinar and it revalued the next day? Everyone on here knows you shouldn't invest more than you can afford to lose....

[dominowinner]

i called the number. its says wells forgo does not buy or sell iraqi dinar. and has no plans to do so

[wavggg]

IQD is not devaluing from hyper-inflation.

It did before and that is how it got to the lows of the late 90's and early 00's.

It was pegged to the Dollar in a move by the CBI to stop the slip.

It has appreciated in value some 10% since the new currency was introduced.

The banker in question must have done a speed-read of some old articles and has not stayed abreast.

IMHO

gg

[JWJW11]

This is this guys 3rd post filled w crap about banks in a few days now...just ignore him and enjoy whats in front of us! Hes just lonely and looking for attention

[amhvl]

I feel the banker gave solid advice based on traditional trends. The kicker is, nothing about this investment is traditional, as all of the dynamics are completely original. I would rather hold IQD and be right then not hold it and be wrong.

[bamagirl]

i called the number. its says wells forgo does not buy or sell iraqi dinar. and has no plans to do so

It has said that for a while, nothing to worry about!

I feel the banker gave solid advice based on traditional trends. The kicker is, nothing about this investment is traditional, as all of the dynamics are completely original. I would rather hold IQD and be right then not hold it and be wrong.

I think this is the popular opinion around here!

[fnbplanet]

Thanks. That was unhelpful.

[wineguy]

I feel the banker gave solid advice based on traditional trends. The kicker is, nothing about this investment is traditional, as all of the dynamics are completely original. I would rather hold IQD and be right then not hold it and be wrong.

I couldn't agree with you more! +1 to you for this.

[Bat of Darkness]

Dinar Buddy...I don't know why you felt like you had to go throw your weight around at a bank, but you pretty much made yourself look bad. Once your "Friend" with the "extremely creditable source" got finished giving you Investments 101, then I'm sure you were a hot topic of conversation in the break room.

IF that's what really happened...and you aren't reading this copy straight from your own printed propaganda sheet.

"I felt I needed more intel as I wanted to understand why the IQD may never or could still be 2 years away from an international realized currency."

You do realize it's a NATION we are dealing with here...not jewelry?

"...investors are seeking purchase things that go up in value and don't decline. I asked for more information..."

So glad you are educating yourself! Now you're going to go shine the golden beam of enlightenment on Chase Bank, too? If you keep going...eventually you'll happen upon a bank that might laugh with you about the sorry situation in Iraq, instead of laughing at you for thinking you're the foremost expert on Middle Eastern politics.

[quadkidd1]

The 1170 rate has been steady for how long???

And before wasnt it even higher?

That doesnt sound like depreciation to me.

And this crude analogy about Tiger Woods watch.... huh?

It seems clear to me this (banker ) is just like all the rest, very conservative and misinformed.

Quad

Earlier this week I met with two different Wells Fargo locations. I have a really close friend with the Personal Bank. 20 years experience, 8 years as a foreign currency expert with an extremely creditable source. I felt I needed more intel as I wanted to understand why the IQD may never or could still be 2 years away from an international realized currency. I brought us the Iraq economy growing, the Isx is over 5% growth, the banking in Iraq is reporting a single digit growth, the government is in place and working... Blah, Blah, blah as he laughed at me. He calls this "MESS" an Iraqi pumped notion based on Iraq will reset back to pre-war exchange rate. He stated again that is not how currencies work...

Part 1: this is a hyperinflation situation where we are paying as high as 15% premium for all IQD we purchase and we are selling a double digit inflation in the coming months in Iraq, hence every month we are losing value. His example was if a person purchase things that decline in value after purchase that over time you will ultimately broke. Hes shared that you see currencies like the Euro moving and is fully accepted making constant adjustments. Not happening with the IQD. I asked his position on the IQD and he gave me the following number to call 1-800-626-9430.

Part 2: he stated investors are seeking purchase things that go up in value and don't decline. I asked for more information... He used the example of an expensive watch like Tiger wears, or any brand, you pick it. You purchase and believe in that watch's value at $5,000... In 6 months they will be less to return in value, say about $1,000 and in a year only woth $200... Invest in real assets like metals, minerals, stocks, real Estate, ect.

I will update everyone later today on my recent visit to Arizona to meet with a few Chase bankers (friends).

Last, this currency seems to be a few years off, so I wait.

Let's go RV

[splicer09]

Dinarbuddy I bought my dinar back in early 2005 and the rate was $560 for a million dinar. Today that same purchase is about $1100 per million. Were is the depreciation in value? There isn't any! Maybe you should focus your efforts to educate yourself somewhere other than the banking sector. Local banks ( for the most part ) deal with foriegn currencies about 1% of all the business they conduct. To me that is hardly consider viable experience. So look east my friend to Iraq and the news, the CBI, and other intel that is becoming more evident of an RV in the near future. If you truly believe we are 2 yrs or more away then come pay us visit then and you can rub it in our faces. I wish you the best in your bank ventures however I'm sure I speak for most when I say this. "You will not find those answers from your local community banks or their so called investment advisors". God bless and GO RV...GO DV!!!

[caz1104]

Most folks in the Financial Industry believe the same as DinarBuddy's banker friend,nothing new. It's an opinion based on his experience,nothing new. Is he correct? Time will tell. Stay loose if you believe,cut & run if you don't. Best to all

[mrref]

Ouch, this does not sound like the news I wanted to hear. Go RV...

This dude is a banker at WF, I haven't met a banker yet that knows a thing about the IQD

[Mongo]

Wells Fargo Updates

Indians shot arrows into the wells Fargo Balloon on her maiden voyage, passengers had to disembark and take cover until the army got there. CEO John Stumpf said"those people never give up ......

[powerpager]

Don't Bother !!!

[Shick]

I don't care how much experience this banker may have in foreign currency, I would bet all my IQD that this guy has not followed what has been going on in Iraq, has no clue of iraqs involvement with the IMF and the UN to get the dinar back to it's former "Glory", or what laws it has passed to get back on track. We here know what is going on.

Nuff said !

I AGREE MY FRIEND, I BOUGHT MY DINARS IN 04, AND I'VE BEEN KEEPING UP WITH THE HAPPENINGS IN IRAQ AND IF THAT BANKER NEW HE WOULD GIVE A DIFFERENT SCENARIO. THANKS FOR YOUR WISDOM AND INSIGHT. PEACE! GO RV!

[Shelley]

I feel the banker gave solid advice based on traditional trends. The kicker is, nothing about this investment is traditional, as all of the dynamics are completely original. I would rather hold IQD and be right then not hold it and be wrong.

Bankers do not think outside of their world, I would love for this banker to be able to find me a real Rolex for $200.00

Sorry but there wasn't anything he said to make me think twice about this investment.

[machcobra]

Well seems you sure have a lot of friends? (Banker) as you put it! Most of the big banks will tell you the dinar is a scam. I have one banker, my local Chase and she is not even really a friend! I asked her some 8 months ago about the dinar and if they would be trading it again. She said and I quote! We are not currently trading the dinar, but we are waiting on the "TREASURY" yes Treasury to give us the go ahead.

I love how so many know bankers all over the place, thanks for the chuckle!

One cannot give solid advice when there is no one!

I feel the banker gave solid advice based on traditional trends. The kicker is, nothing about this investment is traditional, as all of the dynamics are completely original. I would rather hold IQD and be right then not hold it and be wrong.

[sxsess]

I don't care how much experience this banker may have in foreign currency, I would bet all my IQD that this guy has not followed what has been going on in Iraq, has no clue of iraqs involvement with the IMF and the UN to get the dinar back to it's former "Glory", or what laws it has passed to get back on track. We here know what is going on.

Nuff said !

Agreed this "banker" is clueless to the progress that Iraq has made in the past year alone! If you listen to ignorant people you will be ignorant yourself. Listen to the experts like Adam Montana to keep you accurately informed.

[Choppermike]

I'm thinking DinarBuddy is a Rothchild plant. He's attempting to get the weak of mind and stamina to dump and run.

[4aprofit]

I've already mentioned this before, but I will say it again...even some of the Bank Presidents that I know..yes, many who call this a scam..actually "OWN" Dinars...Many of the stories that I've heard some of them quote are; (It's a Scam)....(I would'nt fool with anything outside the U.S.)....or..(I would'nt touch it with a ten foot pole if it is'nt American based)...I've even asked some why were they opening themselves up to serious lawsuits...(Just in case this things goes down, and they're made to look like liars).....A few of them quoted...if we were to say one good thing about this...first, we don't know when and if it will happen, this would bring about droves of people coming back to the bank constantly until it happened, driving himself and all the employees crazy...(even if it did happen)....secondly...people would be pulling out of their C.D.'s, Stocks, Bonds, 401-K's, Checking & Savings Accounts, and most worrisome..."their childrens grocery money possibly"...plus it could cause a liquidity run on the bank that could shut it down...and many bank employees, if told of this, would'nt be there to work, not only after it happened, but when they may be needed to handle these larger transactions at such a critical time if it happened..."as they would have to train new employees at a critical crunch time in essence"...thirdly...The bankers said that everyone that they told something good about this would continually be at the banks doorsteps..lined up to the street daily and at their homes at night..."especially if they knew them...or knew them personally"...This does'nt even begin to take into the consideration of the security risks involved...but, if anyone thinks about all of this...it does make sense...For what it's worth???

[sonny1]

i as well am going to cash-in at wells fargo, the v.p of wells is on this site, and contacted me about 8 months ago. i wont give his user-name because he asked me not to, and i dont want him to get slammed by pm's... i checked him out and he is who he says he is. he told me a few things that i would like to share

1. no local bank manage-personal banker knows anything (nothing) about the dinar, all they offer is advice.

2. wells fargo will be cashing customers in upon a rate change (he begged me and my group to cash-in there, and after i did some homework, i agreed).

3. in his opinion, the dinar is a no-brainer investment and it will go up in value like we all hope it does, he has no rate-date.

4. its well know in the higher up the ladder banking community that the dinar will explode and and many customers will become wealthy over night.

this guy is the only one i will ever listen to in the banker community, he as well is an investor, he is a no pump guy considering his bank doesnt even sell dinar.