BAMA POST - Dinar Vets

Bank Notifications

Listen folks, I am no fan of B.S. I do not have any motive other than to pass on information. You can read my posts and see if I make sense or not, you decide. I do not know Medic, Sonny, Adam, TerryK, Frank, Mailman or anyone else and so I will not accuse them of lying or pumping. If you want to do that, it is your right. I own a lot of dinar and I have not and will not take a picture of it and send it to you for proof. If that keeps you from reading my post, bully for you.

Having said that, I will pass on what I know to be true and then all you fun loving, well intentioned bashers can get busy.

First, on Medics post, he is talking about a particular bank. He has called it CB in the past. Could be Compass Bank or some other bank, who knows. I do not, as I am not a member of his site. I mention Compass Bank because I have personal experience with them. They are now BBVA Compass, an international bank domiciled in Spain with the domestic headquarters in Houston.

Second, the claim that some make that "there is no way a bank would notify a branch" is a very bold statement. Without having intimate knowledge of the inner-workings of the particular bank mentioned or even banks in general, this statement is nothing more than speculation either based on your own experience at best and at worst it is a pure guess. Using the absolute term "no way" implies that one knows exactly what causes people to act and that all possible acts are known. This opinion, stated as fact, is no different than all other opinions of "fact" that we see here daily. For me to say "there is no way a bank would....." is in essence the same as me saying "the RV is happening tomorrow". While both statements are put forth as fact from on who has knowledge, they are both merely statements of opinion based on information, personal knowledge, personal agendas, experiences unique to the individual, and personal biases.

While common sense tells us that a corporate bank headquarters would not be notified of a change in the Dinar and further that they would not then pass that information on to the branch level, common sense does not always carry the day. Numerous examples could be put forth from each of our own experiences showing that while a person or a group of people should have acted in a certain and expected way, they in fact acted in a way totally to contrary to the behavior dictated by common sense.

Now for the information I know to be true. Take this, in light of the above statements, as you wish.

Within Compass Bank, there is a Foreign Exchange Department. This department is active throughout most major cities where Compass has a branch. Any of these branches can exchange USD into other currencies in which they buy or sell. Most of the branch locations send currency to the main office in Houston for processing. The foreign currency is verified and is then processed using a currency vendor. The details of this process I am not familiar with, I only know that the bank buys the currency from a vendor and sells it back to a vendor. This is where the bank captures the "spread", thereby making a profit on the exchange. Located in the Houston office is the top trader in Foreign Currency within Compass Bank. Her name is Kathy. If you want to call her, the number was given in a previous post, or you can google Compass Bank.

On two previous occasions, Kathy has received a "notice" from the currency vendor that a change was pending with the Iraqi Dinar. She indicated that these notices come up to 7 days in advance in order to give the retail currency dealers, i.e. banks and forex locations, time to prepare personal for the change. As we all know, even though notice was given of a change, a change did not occur. Kathy mentioned that this is the first occasion in her career in foreign exchange that this has occurred.

The third notice of a change with the Iraqi Dinar was received by Kathy 6 days ago. Will something happen this time? We can only wait and see.

My point is this: Banks and departments in banks do indeed receive notice that a change is occurring. Good, honest, well intentioned people do in fact pass the information on to those that they either believe must have the information in order to perform the duties required by their position within the organization or to those whom they have a relationship and have promised to keep in the loop.

The fact that every bank does not know or has not been given notice or even that a close family member works at a bank and has no knowledge of a change, does not necessarily mean that everyone is a liar and is only out to scam and hurt others. More likely, it is an indicator that their position within the bank or the bank itself either does not require the information in order to perform their job or that their supervisors do not know themselves.

Should a change with the IDQ not be forthcoming, instead of assuming that everyone is a pumper, a liar, and an unscrupulous *******, consider as an alternative that the information they received was thought to be accurate when it was given and something must have changed.

Do not spend money you do not have to buy more dinars based on information received on this or any other site. Hope for the best and be gracious when the best is delayed. Only make statements that you believe to be true based on the information you have received and expect others to do the same.

This investment is a lesson in patience, humility, common courtesy, and gratitude. Learn these lessons well and when the RV happens you will have gained more than money.