"RV UPDATE" BY MARKZ, 29 DEC

 MarkZ  

 [via PDK]     ...bank story...I am going to leave out the name of the bank so they do not get harassed.:  “I went to my nearest ____ bank in California on Mon 12-18 to talk about the possibility of opening an account with them. I told the account rep I had a lot of foreign currency and have been reading that ______ bank was one of the banks doing deals in Iraq and were going to be one of the participating banks when the RV (Re-valuation) happened.  I asked if that was accurate?  The account rep lowered his voice a bit, smiled at me and said “Yes, they are going to be one of the participating banks when it happens but I would need to have an account in order to redeem”  

 I asked him if I opened an account today would it help with the process, and would this branch be where I would be exchanging?  He said “Yes and No” Yes I could bring in my currencies here…but they would have to send them to a branch in a different city to verify the currencies are legitimate.  I asked if I could just drive to that branch and redeem it myself there and he said “Absolutely” and that way you do not have to let your currency out of your sight.  So what I call a redeeming bank or redemption center- are locations like that one that are set up to verify and exchange it right there in front of you with trained personnel. RC’s are banking facilities specifically set up  with specially trained staff to verify your currency in front of you so you do not have to let it out of your sight. 

 Well there is plenty of expectation for this weekend...things are highly possible by the first.

 There seems to be a lot of fear about redemption centers.  What I refer to as redemption centers are participating banking institutions. You can call them what you want. These are banking properties with banking personnel trained to handle foreign currency transaction and verify them on-site instead of sending them off somewhere...

 Question:  What does you gut say Mark?  MarkZ:   My gut feels it will be at the bridge of 2023 to the first of January.

 Question:  Is the dong still a go at $3-$3.50?  MarkZ:  I still put it at $2 -$2.25 ish. But I still hear from some folks it may be as high as $3+ range.