[BWM] ok... got asked about the article that got posted this morning "Expert: raise the quota of the dollar exchange rate in the banks means the success of central bank policy and exchange rate stability"... so let's look at the MOST important statement in the entire article...adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2%).
This is a translation issue here. Parallel does not mean "equal" but rather side by side until such time they can "IN THE COMING PERIOD level the playing field between the dinar and the dollar" (as stated in the article). The 2% was given as an estimate of value between the differences IN IRAQ...so there is no change AT THE MOMENT... it's more rhetoric that IN TRANSLATION everyone wants to read that it has happened... not yet
[generals64] BWM can answer this question from me....How many Dinar have been printed?
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[BWM] generals64 depends on who you believe.. have heard several numbers 27 trillion, 30 something trillion, 40 something trillion... it doesn't matter because when they "drop" the 3 zeros the money supply drops with it
[BWM] after the FDIC discussion other day I had a number of ppl with questions about credit unions... so after the room closes this morning I'm gonna do some research about credit unions to do a classroom...
[BWM] I'm hopeful that we can do a direct comparision between the two (banks vs. credit unions) just to make sure you can see what benefits one might offer that might prove to be a better option for you and your family.
[BWM] I also get that if you have a bzillion dinar you will have to work a little harder about the protection issues but you can also afford to make those arrangements... this is more geared toward the holder of a couple million or less dinar and how you can protect that easily and FREE if possible
[TexasT] BWM did you cover the REPO accounts? I have been studying them?
[BWM] TexasT not yet
[mcmc] BWM I live in a rural area but have access to 8 banks within 15 miles so will be easy to spread it around
[BWM] mcmc that's the point I wanted to cover with the FDIC class...
[lynncool] BWM I'm trying to convience my husband that we will be targets but he feels out here in the country we won't have any problems
[BWM] lynncool I'm not totally hip on putting a load of cash in local banks just from the perspective of having ppl know how much I have here... BUT I must say if local will be more protected then I'll take my chances
[ecinks] what is REPO acct? TexasT
[BWM] ecinks a REPO account is also known as a SWEEP account depending on your wealth management department... it automatically manages funds between you primary cash account and secondary investment accounts...
[mcmc] BWM Once we have some $$ we can do the leg work and interview these banks and wealth management companies and see who can give us the best deals
[BWM] mcmc the key (depending on timing) is get into non interest bearing account (remember this ends December 31st, 2012) and then move accordingly into your wealth management options IMO...
[BWM] mcmc I'd settle for some loose change at this point