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Currency Exchange Decisions; 3 Basic Choices

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#1 AZhombre



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Posted 19 July 2013 - 05:14 PM

AZhombre Post, It’s a Free Country, It’s Your Choice!


People are asking questions on many Dinar sites primarily because they don’t understand the pending cash-in/exchange.  They are seeking additional knowledge in order to feel comfortable enough to make a decision.  We are constantly being reminded to have a “plan” for our pending RV.   Many are fearful because things are not clear.  Obviously you don’t want to wait until you are sitting in front of your private banker to begin planning for your currency exchange. 


Anyone who has experience in sales knows that “confusion” always results in “indecision”.  Too many choices will drive a buyer away!  That is why many continually ask “the same questions”.  Rather than criticize those with questions, let’s simply try and help them understand.  And let’s remember the landscape in “Dinarville” is constantly changing.  It wasn’t that long ago when we were told to never use the term “cash in” (that had been used for years), but instead use “exchange”.  I think the reason cited was we would avoid taxes!  So the person in front of the other desk who says “exchange” instead of “cash in” won’t pay taxes? 

What are our basic options

This is kind of like the TV show “The Price Is Right”, with Bob Barker.  Unfortunately, just like the guy with prostate cancer who is given “alternatives” to his problem, there is no “perfect” door.  But you are still Free to Choose.    (theme song)


Door #1Comparison Shopping.

Check out the Banks and currency exchange centers.  If you want all your questions answered before going to your appointment with WF (the group deal), and want to do some “comparison shopping”, or you want the oil credits to stay in the USA and not go to China, or you are interested in forming a group and “negotiating” for your own group deal, then perhaps you should consider Door #1.  This is like the movie Matrix,    Or The Truman Show,


If you decide to compare, use caution, just in case the warnings we’ve been hearing from the “bank negotiators” are true!  Check out everything the big banks (JP Morgan/Chase, Citi Bank, Bank of America/Merrill Lynch) will offer you.  Check out the “private banker” web sites also, to learn what you are entitled to as a wealthy investor.  Don’t be afraid to “park” some of your new “cash in” funds in your local credit union and or smaller regional banks, as long as they are stable.  They can be great resources also.  Be up front with your private banker and let them know you are “shopping”.  Ask questions about Rates, Restrictions, Perks, Taxes, etc.  Ask them what they would ask you if they were in your shoes.  Ask them what they can do for you.  I plan on informing them I have X amount of $ to deposit, and 20% is going to 5 different organizations that could include them.  After 18 months, the organization with the best performance could receive 60% of all my funds to work with. 


Since you are taking the private banker’s time, don’t be afraid to open an account with them if you don’t already have one.  You can always use that account in the future even if the majority of your funds are not deposited there.  For example it could be used as your “vacation” fund account.  Have an adult family member or trusted friend help you cash-in a low denomination note resulting in less than $10k just in case the “FINCEN & NSA scare” reports are true.  You can use the acquired money to prepare for your exchange (securing professional help of CPA’s, trust attorneys, etc., that may need to be set up before cashing in your “mother-lode”).

Now that you finally have some confidence because you have some money in your pocket, “knowledge” in your brain, and a happy heart, if you have layaways and/or reserves, you better not forget to open another door… 


Door #2: The Dealer(s).

After visiting with them, depending upon when your layaways and/or reserves are due, you could pay them off and receive the IQD currency to exchange at the bank of your choice, or exchange with the dealer(s).  Should the rate increase in value, you have the flexibility of locking and canceling in your “sale” rates over your computer as you watch it daily!


Door #3: Group deal at Wells Fargo Bank

With the help of the “negotiators” -and I’m not talking about William Shatner as the Priceline Negotiator- this is perfect for the faint of heart.  All has been worked out in advance for you.  Please remember in all cases the people you are talking with are paid by their employers.     

The Price Negotiator Lives:  or the

“Dinar” Breakout:


Think of WF bank as a local merchant or car dealer that advertises “after you have done your comparison shopping come to us and we will beat any offer you have.”   Because the proponents of this option discourage “comparison shopping”, many peeps also view this option as “The Wizard of Oz” deal.  “Pay no attention to that man behind the curtain”.  Obviously if you do not want to compare options, or negotiate rates, then call the 800# or 888# when it finally arrives, set your appointment, follow their directions, and enjoy your new found wealth.


Unfortunately we have seen very little constancy amid change in our journey, with the exception of the RV/RI not happening when so many thought it would.  Hopefully it will happen sooner than later.


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