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Bank President speaks out on Iraqi Dinar rumors

Jun 17, 2011

Here is an interesting and credible report, assuming, of course, that the person is truly who he says that he is. He does sound credible, and it was posted on www.theiraqidinar.com

The owner of that site is probably the most conservative among the dinar posters. He is very cautious about posting rumors and is constantly debunking rumors that cannot be proven. The point is, I don't think he made this up.


I follow your site daily to get snippets from your news section mostly but also glance through chats and posts.  I am President of a bankand can tell you that there is no truth to rumors of management training tellers.  People that say their branch managers and platform people know it is coming and people are getting trained is just not true.  They will find out just like everyone else.  For the same reason that nobody else will know ahead of time….every bank employee would be retired if they knew it was coming.  I feel as most of your followers, that this will happen.  I also believe it will happen sooner vs later with the progress being made daily in Iraq.  I can’t speak to everyone’s contacts in government and overseas, but I can speak to the bank rumors and just wanted to pass that along.

I can also speak to those that question security in cashing out at banks.  People, banks aren’t going to give out millions in cash.  They will either deposit it into an account at that bank, wire funds, or issue you a cashier check.  So those that are stating that banks are stocking up on cash for the revalue are also misinformed.


Site Member / Bank President

My Comments:

1. This bank president believes the dinar will revalue, and that it will revalue "sooner rather than later." In other words, he believes the revaluation will not be delayed until next year.

2. He acknowledges the fact that bank tellers would all buy dinar if they knew that it was going to revalue at a much higher rate shortly. This is probably the reason the banks spread rumors that this is all just a scam. They don't want to have to suddenly train all new employees. So they prefer to keep their employees poor so that they remain in the work force.

3. He seems to acknowledge that some people are going to be cashing in "millions" of dollars worth of dinar, and that they should not expect to get this cash in a suitcase. I have heard that most banks will limit cash withdrawals to about $10,000. The rest must be deposited and/or withdrawn as a cashiers check.

4. Dinars are still available. You may call Vinnie at: 850-255-1000. Please give him a break on Sunday.

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Category: Iraqi Dinar
Blog Author: Dr. Stephen Jones