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Thread: DR Banks

  1. #1
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    Default DR Banks

    Someone posted that they withdrew 1500 US dollars from a bank in the Dominican Republic. They then said that they posted this because of all the nay sayers on the board I guess inferring that Banks here were safe.

    I think that it was Banco Popular which btw had just had some sort of bailout not 6 months ago following Banco Mercantile, Banco Credito and of course the Baniter disaster which is still in progress.

    I feel that the banks are NOT stable here and of course when I made light of the guy he got a little carried away and the thread was closed. I would still like some discussion on the subject and even from this silly guy whether the banks in the DR are a safe bet for people to put US dollars and why.

    Thanks,
    Scott

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    Default

    Quote Originally Posted by Escott
    Someone posted that they withdrew 1500 US dollars from a bank in the Dominican Republic. They then said that they posted this because of all the nay sayers on the board I guess inferring that Banks here were safe.

    I think that it was Banco Popular which btw had just had some sort of bailout not 6 months ago following Banco Mercantile, Banco Credito and of course the Baniter disaster which is still in progress.

    I feel that the banks are NOT stable here and of course when I made light of the guy he got a little carried away and the thread was closed. I would still like some discussion on the subject and even from this silly guy whether the banks in the DR are a safe bet for people to put US dollars and why.

    Thanks,
    Scott
    Yes Scott, I wondered why that thread had got "Closed". It seemed to me that the person concerned was making a valid point about your NORMAL responses (rightly or wrongly) & his thread was promptly closed when he had some harsh words to say against YOU. Pity this, as Robert is giving some peculiar messeges to the DR1 contributors as to what the relationship is between you two - any "Contra Scott" stuff seems to get a fast rebuttal from him or gets closed/deleted.

    I am amused at your comment as to GMiller being 'Silly'. My understanding as to how he puts a point across - considered & forthright - indicates that he is anything OTHER than 'SILLY'. I would suggest he has quite a bit of intelligence. The fact that he 'assumed' people would understand his original post was written to indicate "US $ were available through banks still" & then had to EXPLAIN that to others, indicates that he has a GOOD brain - which means he is NOT as silly as you indicate!!

    Perhaps if you toned down your sarcasm (leave that to the boss of sarcasm. CCCCcccc) & GMiller explains what to intelligent people doesn't really NEED explaining, then the two of you might get along quite well together!! We have known each other a long time & I know how to put up with your jibes, newcomers to the board do not have this experience & need to be weaned (or should that be 'Weenied'??) on to you over a period of time. Heck, for an American you even make sense some times!!!! - Grahame.

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    Default Are you trying to do it again Escott?

    If you want a substantive discussion of the safety or otherwise of DR banks, then say so. However, as you already have your own opinion, I wondered why you opened this up again. Was it merely to take a shot at gmiller again?
    The use of the word "silly" was unnecessary & perjorative. Such repetitious shot taking is becoming tiresome in the extreme. There now, that may or may not lead to closure! Wait a minute....Escott started this thread!

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    Default Favoritism

    It IS funny how some threads stay open (depending on who started them) and others close rapidly.

    I don't know a lot of people on here yet, but I have seen some "favorites" being able to keep a thread going on when others are shut down right away.

  5. #5
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    Question

    Quote Originally Posted by BushBaby
    Yes Scott, I wondered why that thread had got "Closed". It seemed to me that the person concerned was making a valid point about your NORMAL responses (rightly or wrongly) & his thread was promptly closed when he had some harsh words to say against YOU. Pity this, as Robert is giving some peculiar messeges to the DR1 contributors as to what the relationship is between you two - any "Contra Scott" stuff seems to get a fast rebuttal from him or gets closed/deleted.

    I am amused at your comment as to GMiller being 'Silly'. My understanding as to how he puts a point across - considered & forthright - indicates that he is anything OTHER than 'SILLY'. I would suggest he has quite a bit of intelligence. The fact that he 'assumed' people would understand his original post was written to indicate "US $ were available through banks still" & then had to EXPLAIN that to others, indicates that he has a GOOD brain - which means he is NOT as silly as you indicate!!

    Perhaps if you toned down your sarcasm (leave that to the boss of sarcasm. CCCCcccc) & GMiller explains what to intelligent people doesn't really NEED explaining, then the two of you might get along quite well together!! We have known each other a long time & I know how to put up with your jibes, newcomers to the board do not have this experience & need to be weaned (or should that be 'Weenied'??) on to you over a period of time. Heck, for an American you even make sense some times!!!! - Grahame.
    Yes ! I do agree with you ! As far as newcomers are concerned to this forum ! It does make me feel imtimated ! I didn't even know who the owner was of this forum, until I was warned to watch my step about insulting him ! At 63 yrs of age, I wasn't expecting to be warned off by anyone , simply for defending the insult handed out by the owner, towards the country of my birth ! However, I would like to know more about the stability or instability about the banks of the D.R. I would prefer to read ALL comments, and then make my own conclusions, as to transfering funds ! I hope my spelling is read-worthy, as it also seems to be open for ridicule on this forum ! I would also like to know "are Escott and Scott one and the same, and the owner ????? Also when you send a private message , do i take it then , that is not the case, it appears on the forum regardless?? Thankyou !

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    Default money Us$ Banco Popular

    Ok I am flying into Santo Domingo to goto Boca Chica with my roomate who is also from the Dominican, American born but has much family in Boca Chica. We arrive on the 15th of may and I am bringing travelers checks. I am curious as to what to do in the bank. Do they have safety deposit boxes at Banco popular? If so are they safe? The last thing I am going to do after reading this post is deposit any large sums of money there. I would appreciate any advice concerning this matter as well as any additional info concerning Boca Chica. I have been on the internet for several hours a day researching the country,restaurants, the upcoming election we'll be flyiing into, etc. I am also looking into perhaps becoming a volunteer somewhere to help churches, building developers, the library in Santo, etc.. I cant very well party 7 days a week drinking el presidentes and chasing dominican women, Europeans as well lol. I am a 28 yr old American Male! Where are the good jet ski rentals, horse back riding, you know the good stuff! My roomate will undoubtedly have the edge on particular answers but I am also one to look into getting a second opinion for my self. Thankyou, Tripps

  7. #7
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    Default

    This thread has gone all over the place in just a few posts!

    If you have issues with a someone, add them to your ignore list (UserCP).
    Then you will not even see their posts or receive any messages from them.

    MotorCity Mike - Threads are closed based on their content. PM or email the moderator or me if you have any issues with how we control the message board.

    Rosemary - Robert and Scott are two different people.

    I agree 100% with BushBaby, it was an unnecessary comment and a very bad attempt at sarcasm.

    Now let's get the thread back on topic so it's not closed. Please do not post anymore off topic posts and Scott DO NOT respond to any comments in this thread relating to YOU.

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    Default

    I really wanted discussion about the viability of the Banks in the DR. Yes I thought it was silly that someone withdrew 1500 US dollars and was trying to make people think that the banks in the DR was a safe place to put money.

    Bushbaby... "considered & forthright" if that is what you considered that thread I really am very surprised. In the end he had to explain it as sarcasm.

    With the large debt and considerable interest payments due and coming due I have to wonder if the DR will be able to make these payments.

    If they can't, what happens to the banking system when they run out of credit?

    What happens to the peso when the Central Bank has to pay the 50% and I think now 35% interest on all the money they took out of circulation by offering these high rates on CD's?

    Where do they get the dollars to purchase oil and gas when they don't have the money to pay the interest payments?

    If they don't have enough dollars, will they take the dollars out of the banking system to pay these bills and replace them with the pesos that they are able to print?

    I think we are in for a very very interesting ride.

    Scott, Escott

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    Default my two cents

    I pulled everything out except for about a $1,000 just to keep account open. My first concern with Hypo was a "corralito" implementation following a number of delayed payments on bonds and the downgradings. Would wait until at least August before even considering redepositing in a DR bank. This guy might be desperate even between May 16th and the hand over in August. His quote "power is made to be used" is a bit scary. Why risk it with an asshole?
    Will wait after the transfer of power to see how the new guy on the block will react with the mess he is going to be stuck with.

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    Default Actual Interest rates

    The interest rate that the Central Bank has been paying since the beginning of the year on their Zero Coupon short term certificates is almost 60%. The media has consistently and erroneously been stating that the interest rates are 35% - 50%. Those were the rate charged last year.

    Just this past wednesday, the had their largest single day auction of almost DR$14 Billion. Thats right BILLION. These auctions happen every week.
    Last edited by mondongo; 05-02-2004 at 10:34 AM.

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