By concerned Dinarians….
There seems to be some hanky panky going on…. I was notified from folks in a very large group (that I know are dinar holders) that for the past few weeks WF has been trying to get them to exchange their IQD at a rate lower than the street rate you thought to be at about $11…. Recently two (2) folks, unrelated, were called to report to the WF Dallas exchange center where they were also approached by WF to accept a lower rate. Also…. Just had a call from a friend that was a moderator last year for two (2) different dinar chat groups. He knows a LOT of folks. A guy he met during his tenure as moderator called him a few minutes ago, reporting that he has been hearing similar stories. He is as mad as Hee-Haw….
I know how people are. They won’t want to believe it, so before they dismiss these rumors, just ask them to check it out for themselves, and get back to you to report their findings BEFORE they claim these reports are not true…. They need to call WF corporate office in San Francisco…… As a commodities broker and someone who has a cousin that is a retired banker, I can attest that if WF is doing this, even if the money is in the customer’s account as a voucher, the bank (depending upon how many they get) can monetize whatever they have x 10.
The bank is also not having to pay the additional $3 for the street rate, but they are getting out of paying the agreed upon VIP rate(s). In other words, they stand a chance at raking us for BIG bucks once again….. I hope I am wrong, but there are just too many making the same reports….
Dinarians may want to begin to investigate alternative exchange arrangements or simply decline this offer from WF and wait until the official re-valuation is announced, thus locking rates into the screen and forcing WF to exchange at the rate on the screen.
Posted by John MacHaffie at 4:41 PM