"RV UPDATE" BY MARKZ, 30 DEC

 MarkZ 

 [via PDK]  Everything still appears to be on track with a tremendous amount of anticipation for the next few days... There is a big push now to get the US military out of Iraq immediately.  “Iraq’s PM says government working to end presence of US led coalition forces in the country” Donald Trump once said that that when they reduced the numbers they would not completely leave the country until we have been paid for the war effort. So what does that tell us?  They are trying to get us out in “the next coming days” which means the RV needs to happen…as I understand it.  This could be an indicator of how close we are.  Iraq is also indicating the problems with the parallel or black market selling the dollar would be done by the first.  Buckle up for this week…We may not make it by the first…but I believe it will be very close to it.

  Question:  What do you think the dong rate will be?   MarkZ:   I am still looking at $2 or $2.25…but my bank contacts think this is low. They think it may be as high as the $3+ range.

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

 ...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.