Wells Fargo Update

[Artitech]

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

old news this has always been wf stance. more b s RV TOmorrow! Nuff Said!

[DinarDaddy83]

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.

Agreed.

[sxsess]

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???

This does make perfect sense. Well stated!

[lomeygoat]

At the bottom of his post did the banker say we should invest in real Estate???

What an a$$. dosent he know at the moment real Estate isnt worth shite as I wont sell very well.

I'll take his advice...NOT

LOOK: - Invest in real assets like metals, minerals, stocks, real Estate, ect.

Anyway, you buy a watch to tell time, not as an investment...

Edited January 5, 2012 by lomeygoat

[ProPlayr]

The banker must have not looked up the Iraqi currency trend. let's see, I bought my Dinar on "04 at $760.00 US dollars and it is worth $859.00 or give or take, so the Dinar did not decrease in value.. Currencies are nowhere like rolex watches or investment properties. Do your own research and if you can afford a grand or even a couple hundred dollars to buy some dinar, you have a good chance of a profitable return.. small investment for a change to have life changing results. And if the dinar crashes and none of us makes any money, at least we tried and kept the faith of positivity.. HAPPY NEW YEAR..

[wpsmit]

HO-HUM...Just another bank story....Did he perhaps try to sell you some of the investments he was recommending to you? Investments that he would earn commission on?

[audigger]

Under the draft resolution's terms, how long can the United States and Britain retain control of Iraq?

Until an "internationally recognized, representative government is established." There is no set time limit, though after one year, the United Nations may review the situation and could revoke its blessing of the U.S.-led authority.

[machcobra]

Way to much thought going into this persons post. We have all been through this kinda stuff many times. Maybe a MOD needs to close this thread?

[sammyque]

I have a dear uncle who invested heavily in Enron based on a suggestion from his banker.....Need I say more?

[lakeliving]

The watch analogy makes absolutely no sense! If I were investing in silver, I would pay the market price for silver plus a broker fee...same as dinar. If I sell my silver, I will get back the market price but I won't get back the fees that I paid...same as dinar. So what point were you making?

[grkabme]

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

I have a family member who is in management at WF. I check in with them every now and then with regard to the IQD. She has said that she has not seen any memo's or anything official from WF about this currency. That said, she also said that WF isn't much of a speculative bank and that if/when the IQD RV's then they will be involved in what ever way THEY can make money. She also said in the event it does RV then WF will start at the top of their corporate chain and let the information flow down through management to the branches and that's how the branches, etc. will know. Perhaps there may be talk of the IQD at the very top of the corporate chain, but hearing nothing doesn't surprise her. Thus, comments about talking to a banker at WF like in this post don't do much for me. I think we've all learned by now that banks don't possess any secret intel... they leave that to the guru's....

[amhvl]

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.

Me either!