[daz] Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure...than to rank with those poor spirits who neither enjoy much nor suffer much, because they live in a gray twilight that knows not victory nor defeat. Theodore Roosevelt
teddybear :I was down & depressed thinking this was not going to happen until a trucker friend in the family made friends with a congress person that helped him to cash out a wek ago, I just found this out last night. Now I am only depressed this has not happened yet.
teddybear :That was not a story, it is the fact, I know this person & he does not know I have currency, I wish now I told him
ghosthuntress : Last night Scottydog said a friend of his in Asia was able to exchange at, I think he said, $3.44. We mostly have anecdotal experiences right now,
Rwethereyet :SCOTTYDOG- is a really good guy. He told me about that privately a little while before. I think he wanted to confirm with his friend that it was okay to share...
Read More Link on Right
Blackjack7 :The battle rages in Washington between UST and IMF. One of my contacts said 'come he'll or high water this thing will close on Sunday'. I won't go into details, fact is there are more that want this done than not. We the people will prevail
C130 :Great line from the Bourne Identity " we are up to our ankles in S--- and we don't have the shoes for it
Papacrackers: Hey Guys, just a quick update from a real close friend of mine who happens to be a VP at B of A. He has NEVER given me any dates for the past 3 years and has always said not to listen to any of the misinformation that we hear on ALL of the sites about dates. He heard from his "Private Banker" buddy at Wells Fargo yesterday that the 28th was a day to look forward to. As I said, NEVER has he given me a date before. He is a Dinarian also…… One of my closest friends!
[HUB] (Aug 2, 2013) Wells Fargo CE Brochures
Now y’all may know this but I didn’t till this afternoon.
This afternoon got a call from my coworker that I got involved with the dinar. He was at his WF doing normal business and on the counter was brochures stating WF is involved with foreign currency exchanging. He asked the teller if she knew anything about this and she told him yes, that WF would be exchanging currency and could she help him.
He said he had some dinar to change and she told him she would help him when he was ready.
I found out this brochure has been out for about a week. I did not know this. The fliers are out on the counters so they must intend for people to read them I would think.
EXCHANGE COMPLETED IN CANADA- POST FROM STAGE2OMEGA SKYPE ROOM
I am aware of 2 people in Canada that have exchanged for $3.86 (IQD/IQN) Canadian at a Canadian bank in the last 24 hours.
I have no verification if they were actually paid or given an SKR at this time, which confirms that it is an International rate.
Stage2Omega: POST FROM UNKNOWN-
Your Bank Appointment: How to get the BEST deal
Have you considered that your CE bank appointment will be the SINGLE MOST IMPORTANT FINANCIAL EVENT of your entire life? Bigger than your house. For most, bigger than your CURRENT NET WORTH. Let that sink in......
How much thought have you given to this CE? What if EVERYTHING you thought about this moment came apart on you in that short 20 minutes? HOW? Well, your first mistake may be failing to expect that MURPHY works in the most unexpected places and events. Things can and will go wrong.....UNLESS YOU'VE PREPARED YOURSELF FOR THE WORST.
If you walk into the bank it would be best if you anticipated not only the routine steps, but also what things could go against you. The last thing you want are any BAD SURPRISES. In addition to the security issues for getting your currency safely inside the bank, the next step may be another place you could get robbed.
TWO WAYS TO GET ROBBED
There are two areas where the banks are about to take advantage of you: the CE rate, and banking fees which include currency spreads (the lower price when you sell it back). Anticipate that the exchange rate won't be what you thought when you left home. Could it be higher? Probably never. EXPECT TO BE OFFERED A LOWER CE RATE. Street rates fluctuate. But the CONTRACT rate is another story. More on this in a minute.
The second area you can expect to get screwed is the area of bank fees, the most notorious being the CURRENCY SPREAD. If you buy a car you pay retail. Turn around and sell it back to the dealer and he will only offer you wholesale. That's the currency spread. If I were trading in the Forex market I would expect this. The RV is NOT a Forex transaction. READ MY LIPS: WE WILL NOT PAY BANK SPREADS ON THE RV CE.
Normally nobody heads for the bank expecting to get robbed. But after the RV your CE experience at the bank can be less than ideal for your financial future unless you have mentally prepared yourself for what's ahead. Would you shop for a car without doing your homework? Buy a house? Are you prepared for a tougher negotiation than both these combined?
They aren't called "BANKSTERS" for nothing. YOU'RE GOING TO NEED TO BE A MENTALLY PREPARED NEGOTIATOR.
BEING MENTALLY PREPARED MEANS BEING MENTALLY TOUGH.
Before you rationalize that a lower CE rate is okay, or that the spread cost isn't all THAT MUCH, remember that the banker isn't about to let you go out the door with your currency still in hand. It's critical that you understand this point: Your ability to standup and move for the door is your one and only ADVANTAGE...this is your negotiating leverage. Never forget this. YOU MUST BE MENTALLY TOUGH WHEN YOU SIT DOWN WITH YOUR BANKER TO CE .
I don't know about you, but I'm going in with the FULL EXPECTATION that I'm NOT going to pay for any spreads. Have a percentage in mind. Remember, 1% of your DINAR may seem like a small amount, but that 1% now gets multiplied by the exchange rate. If you exchange a million dinar at $5 (for a low example) that 1% is now $50,000 USD. Multiply that by every million dinar you have, in addition to all the dinar that everybody else has.
That's a lot of money for the privilege of doing business with a banker. THINK WHAT THAT 1% WILL BE AT A HIGHER CE RATE! Never forget what interest rates the banks are currently offering on your savings. It sure as heck isn't !%.
BEING MENTALLY TOUGH MEANS HAVING OPTIONS
So what do you do when the banker refuses to drop the spread? Do you cave? Do you rationalize, "This is more than I would have had anyway..."? Do you say, "This is better than nothing."? It's your money.
Remember, just like there's always another car lot, there are a lot of banks willing to do business with you. Don't settle for less. You will not have the POWER to negotiate the BEST deal unless you are prepared to standup and head for the next bank. Just like the car lot.
Remember, the bank staff have been ordered to not allow you to leave the bank with your money. YOU HOLD THE POWER OF DOING THE DEAL YOUR WAY. But only if you're prepared to WALK.
SO HOW DO YOU KNOW YOU'RE NOT GETTING SCREWED?
This is the most important question of our entire Dinar experience. Also the most frustrating issue. We are being put at a great disadvantage by the PTB in case you haven't noticed. Who or what is the only source of information on the real CE rate? When you buy a car, do you believe the price on the window stricker or the price you get from the sales guy?
How about from his manager? How about the "factory invoice" they hand you at the negotiating table? Do you really believe any of that? If you do, you paid too much for your car. Haven't we all? Isn't this CE more important than buying a car?
Remember, rich people didn't get rich by giving their money to those who don't deserve it. Banks don't deserve making spreads on the RV. (You can take that to the bank.)
Put another way, every dollar you save on spreads helps offset your tax payment. Why pay taxes twice?
TONY IS OUR BLUE BOOK
Let's face it, other than getting a contract CE rate quote direct from the UST, Tony is THE MOST CREDIBLE RATE SOURCE IN ALL OF DINARLAND. Period. (What else are the PTB giving us when it comes to the contract rate?) Armed with that rate we're off to the races.
If UST is smart (no comment) they will ensure that the higher contract rate that Tony publishes WILL REMAIN IN PLACE UNTIL EVERYONE HAS A CHANCE TO EXCHANGE. Why?
Because if they don't there will be a stampede. It will be ugly. It will be the worst nightmare of the UST and the banks. (ANYONE OUT THERE LISTENING?) Who in their right mind would design a currency exchange procedure that was first-come-gets-the-best-rate? It will be crazy.
People become irrational when they think they're about to lose money on the deal. Picture BLACK FRIDAY times 5,000,000. It's imperative that the contract CE rate remain stable for a period of time that gives every person a reasonable chance to CE without fear of losing money.
DON'T GIVE US A BLACK FRIDAY CONTRACT RATE. (Put this all over the boards!)
Remember: Prepare yourself to be a tough CE negotiator. If everyone of us put our foot down and refuse to pay bank spreads, then it will be easier for the next person who comes in to CE behind us. If the first ones to CE make it easy for the banks to take advantage of us, it will only make it more difficult for the next guy to negotiate his best rate. All for one, and one for all. We're all in this TOGETHER.
Hope this gives everyone some food for thought.