IkoWard: Bank Story 11.06.14 11:45AM EST
OK guys, going to give you this word for word and draw conclusions after.
I went to my local WF Branch this AM on regular business knowing my wealth manager is there on Thursdays. He and I have had many conversations concerning this event and he has always tried his best to help but he himself has never been briefed other than the company line concerning Dinar.
At a meeting last month we spent an hour going through their entire system looking for clues. All we got then was a series of FRAUD ALERT messages and a statement from their regional foreign exchange desk that it was a scam.
"Ike how ya doin."
"Great," I say, "Got a minute."
"I have ten."
"I need a favor. Can we call that regional desk and ask about Dinar again."
He goes on his computer and retrieves the number. This is an in-house call direct to their NE Regional Foreign Currency Manager.
"Hi Betty (named changed), this is Howard Johnson in Philly (Names Changed), anything new on the Iraqi Dinar? (Betty speaks) OK. (Betty speaks some more) OK. Thanks."
I watched his face the entire time. No indication of anything fishy or trying to cover up. Last time Betty got all excited and started yelling SCAM! SCAM! so loud I could hear it. Howard hangs up.
"She says they did hear something about it last Friday. Several branches have called. They still think it's a risky investment and are not trading at this time."
"So Howard," I said, "let me get this straight. Did she call it a scam like last time?
"No, she said it is not a creditable investment and Wells Fargo is not handling it."
I got up to leave. Howard got up too.
"Ike, you know I want this to go as bad as you. You make money, I make money. I’m hoping you leave all this money here.”
"Well, thanks Howard, always good to see you. Oh, one last question, have you spoken to your buddy with the whale client down in West Chester?"
Howard has a fellow manager on the Private Banking side whose client has millions of Dinar.
(Shaking his head) "Haven't seen him in months. Not even sure he's at the same branch."
"OK then, later."
AND NOW FOR THE GRISTLE
Howard always has time for me, as much as I want. He thinks I’m a potential big fish. It was odd that he led off with a time constraint.
I always have to remind him as to certain terms. Not this time. He had all the lingo down pat.
The woman on the phone was calm and rehearsed. She did all the talking, answering in a specific order as if she knew the line of questioning. She knew the RV had been “announced” on the internet. I couldn’t hear her, but each time Howard was getting ready to ask something she cut him off and gave a simple, concise answer, anticipating his question. Now, she could have gotten used to these answers from the other calls, but the line “We do not think it a credible investment” felt canned, it had “legal” written all over it, and the word “scam” had disappeared.
And then…..Howard made a booboo. He sensed my disappointment (fine). He made sure I knew he was on my side. (fine again). Then he says he hopes I leave “this money” here. “This money”, as in this event is real and I am holding a shoot load of USD. “This money” as if he is already considering it a done deal. “This money” is a reality.
And then…last but certainly not least, his buddy downtown is in their private banking division…people with 10M or more in assets. Howard slipped up last year when he told me the client is a substantial business owner in our area. I know about this guy. He runs a multi-million dollar construction company. The man is no fool. I guarantee he’s not holding a 25K note his cousin gave him. Why would Howard now downplay their relationship? He was supposed to call this buddy after our meeting last month. Now he doesn’t know where he is?
So, what do I think? I think Wells Fargo has done a magnificent job of information control. Have we all forgotten who designed the world wide network to handle this RV? Wells Fargo. Have we forgotten how big a partner the Chinese are in Wells Fargo? Some say as high as 30%. Wells Fargo is always the bank Tony and DC allude to in their calls. And my regional wealth manager who thinks I’m worth 5M and wants all my business is playing it this tight? As Winston says – come on.
Bottom line: take all the current Intel, cut it in half, and place your bets. I say we’re good by Monday. We may end up sneaking in like so many others, but as DAZ says, we are on line, and I like to think we are near the front of that line with another 5 million folks behind us.
I’m happy. Hope you are too.
Mitchell: This is a very interesting analysis of the type of rehearsed response that Wells is now using to create a smoke screen around the event without making future clients mad enough to use another bank after the event. The banks are walking a tight rope.
Bioced2: I rarely post here but I just got a text from friend who's family lives in iraq and he was exicited confirmed that they have dropped the zero's in country and said we are rich!!!
Landons Nana: tman23 the Arabic side of the CBI site...is filled with CBI announcements for Iraqi's...there is no doubt that they are on the move with their currency reform...all the banks are electronically connected and operating...They are way further along than led to believe through media and their chamber of commerce is on overtime/overtime...
BGG: Market rate down to 1198 this AM!! well within IMF guidelines.
[What is the significance of the market rate being lower?]
BGG: It just displays them being in full compliance with IMF - as of now...which is big (of course). 1198 is the market rate - as listed on the CBI website... not the rate listed on the "currency convertors".
HUMOR TIME!!! Posted by Incognito on November 6, 2014 at 11:20am
JAPANESE DR. YU TOK KAK EXPOSES COMMON HEALTH MYTHS Posted By: Nemesis
Dr. Yu Tok Kak
Q: Doctor, I've heard that cardiovascular exercise can prolong life. Is this true?
A: Heart only good for so many beats, and that it... Don't waste on exercise. Everything wear out eventually. Speeding up heart not make you live longer; it like saying you extend life of car by driving faster. Want to live longer? Take nap.
Q: Should I reduce my alcohol intake?
A: Oh no. Wine made from fruit. Fruit very good. Brandy distilled wine, that mean they take water out of fruity bit so you get even more of goodness that way. Beer also made of grain. Grain good too. Bottom up!
Q: How can I calculate my body/fat ratio?
A: Well, if you have body and you have fat, your ratio one to one. If you have two body, your ratio two to one.
Q: What are some of the advantages of participating in a regular exercise program?
A: Can't think of one, sorry. My philosophy: No pain...good!
Q: Aren't fried foods bad for you?
A: YOU NOT LISTENING! Food fried in vegetable oil. How getting more vegetable be bad?
Q : Will sit-ups help prevent me from getting a little soft around the middle?
A: Oh no! When you exercise muscle, it get bigger. You should only be doing sit-up if you want bigger stomach.
Q: Is chocolate bad for me?
A: You crazy?!? HEL-LO-O!! Cocoa bean! Another vegetable! It best feel-good food around!
Q: Is swimming good for your figure?
A: If swimming good for figure, explain whale to me.
Q: Is getting in shape important for my lifestyle?
A: Hey! 'Round' is shape!
Well... I hope this has cleared up any misconceptions you may have had about food and diets.
Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well-preserved body, but rather to skid in sideways - Chardonnay in one hand - chocolate in the other - body thoroughly used up, totally worn out and screaming "WOO-HOO, what a ride!!"
For those of you who watch what you eat, here's the final word on nutrition and health. It's a relief to know the truth after all those conflicting nutritional studies.
1. The Japanese eat very little fat and suffer fewer heart attacks than Brits.
2. The Mexicans eat a lot of fat and suffer fewer heart attacks than Brits.
3. The Chinese drink very little red wine and suffer fewer heart attacks than Brits.
4. The Italians drink a lot of red wine and suffer fewer heart attacks than Brits.
5. The Germans drink a lot of beer and eat lots of sausages and fats and suffer fewer heart attacks than Brits.
CONCLUSION: Eat and drink what you like. Speaking English is apparently what kills you.