[chrivers] BWM I meant the old reserve notes be devalued and switched! sorry
[BWM] until I see a note that says US Treasury note on it... the system has not changed as some would speculate... IF you were to show me a UST note then at that point I would consider how to best approach FUTURE banking endeavors... but again the problem still exists in that you would have to be offered a chance to "exchange" notes which would mean they would "move" your digital currency to another system upon your request
[olesailor] BWM there was a recent post about a new account that we should look into. I can't find the email or post reference now. But the funds will not be in Federal Reserve Notes. The account had a funny name like Cashmir lol or something like that. Do you know anything about this?
[BWM] olesailor that was debunked from my understanding...
[katfur2] BWM Have you heard anything about the "Way to Save" accounts? What do you think?
Read More Link on Right
[BWM] katfur2 again, that was debunked under the premise that currency is digital... and therefore guaranteed by the US government regardless of what name is on the "note"
[KarenC] BWM I am sorry I missed the wisdom you shared, but can I ask you a question? Would you put a good bit of your funds in foreign currency until things settle out here in the U.S?
[BWM] KarenC there are things to consider when using money 'abroad' the main being what tax implications you would incur by moving the money and what restrictions the government has/will impose for future moving of monies internationally...
[redsnowbird] BWM..... If I take some of my IQD and exchange it for other currencies, say Canadian, Australian..... do you know if this can be directly converted from IQD or does it have to be transferred to USD first?
[BWM] redsnowbird my understanding is this... and again, this is what I have been told. Any transaction that takes place on US soil (unless you can show credentials for travel to another location and the limitations for amounts that would be covered by that) must transfer through the "home" currency FIRST before moving into another form
[chrivers] BWM Well, with ALL the BS out there in this crazy Dinarworld, Who knows what to believe??? I just wanted to see your take, but let me ask you.... if our dollar devalues, let's say 1/2, then the same people who gave us the fiat will take it away, don't you think??? ( IMHO, We won't have to worry!)
[BWM] chrivers the biggest thing to consider is buying power... if you deposited a million usd in the bank and you bought a car tomorrow for 100k and the dollar dropped the next day to 1/2 the value you deposited at... the next day you'd by the car and it would have costs twice as much...
[redsnowbird] BWM.... Why is it necessary for us to sign a Non-Dislosure Agreement?
[BWM] redsnowbird remember we weren't supposed to be in this (company line) but it also keeps those that did not get in this from understanding the sudden wealth
[KarenC] BWM Yes, we have considered that - thank you but with the chances of the dollar projected to loose so much, it would seem it would be safer to be split up and put in other currencies. I just keep trying to figure out what would be the safest vehicle until things settle out here.
[BWM] KarenC redsnowbird yes.... understanding the tax burdens placed upon your income will drive how you can invest with the least amount of risk and the most amount of returns
[KarenC] BWM Having said that, would you consider going out of country with the funds or just place a majority in silver and gold ? Thank you
[BWM] KarenC I will look at some international opportunities... but honestly I will have things in place but wait to see in particular how the european sector shakes out
[redsnowbird] BWM.....do you know if the group rate already has the spread calculated.....or do we have to pay a commission on the new group rate?
[BWM] redsnowbird your rate... will be the rate you are paid for your dinar... the only ppl charging "commissions" are trying to rip you off for being part of their group
[chrivers] yes, got that, My real question was, is there anyway to protect it?? Like having it insured for the amount traded in at...like if the UST notes were worth more than the old reserve notes, and they were gonna rape all of us by dropping our bank accts because we had old notes...
[BWM] chrivers my opinion is still that the paper money (regardless of who 'printed' it) is guaranteed by the US government... they "purchase" from the Fed but they still are responsible for the "value" of the money... if a new system were put in place and run thru the banking system it would require them to offer you the chance to consolidate your funds into new accounts under the new regulations
[chrivers] BWM Ok, there was the answer I was looking for in the 1st place!! meaning, they can't jip you, if they change systems midstream.... ty for your opinion!!
[BWM] chrivers absolutely... the only way they could do that would be to completely take down the banking and finance systems... which would completely destroy the world global alignment
[dietcokeandice] BWM what about life lock will that protect us
[BWM] dietcokeandice I haven't researched that particular company... but again if you do your due diligence and it looks like a good option for you.. then pursue it
[dietcokeandice] BWM in your opinion is the imf moving gold around for this rv to meet the basil 3
[BWM] dietcokeandice there were "agreements" in place from my understanding that are being fulfilled by the movement of certain assets
[dietcokeandice] BWM one more question are their any difference in iraq dinar old printing versus new printing
[BWM] dietcokeandice as in the notes themselves or the process
[dietcokeandice] ex a soldier back in the beginning of war brought home dinar versus a soldier brought home dinar last year
[BWM] dietcokeandice currency is currency AS LONG AS it's the current recognized circulated currency... for example my nephew got some old yen... he thought it was worth about 700 dollars until he realized the date had it worth about 3 dollars...
[KarenC] BWM I hope this isn't a dumb question but my husband was listening to this investor the other day and he spoke of these two things but didn't go into detail. One was of a "safety bank" or U.S. Government Safety Currency?
[BWM] KarenC got me on the safety currency... safety bank is the consideration of a bank's "rating" based on liquidity and safety rankings
[chrivers] BWM well, like I said, You will always have your crazies out there in dinarland spouting off stuff!! lol I just wondered if there was ANY validity whatsoever to that statement...
[BWM] chrivers some will believe it... then again, some will believe anything
[chrivers] BWM but I def side with you!
[KarenC] BWM They made it sound as if it was a special kind of bank - thank you - it is so nice to be able to ask someone these questions and get solid answers.
[BWM] KarenC you're welcome... I'm still hoping for solid answers one day myself lol
[gtabdinar] chrivers BWM You guys are awesome....thanks for the stimulating conversation. It is very hard to get points across behind a computer screen and on a keyborad....but somehow you two have managed to get some very interesting stuff across. Thanks!
[redsnowbird] BWM..... have we heard yet how many WF's will be available for us to exchange our currency once we receive our email from KCMANA?
[BWM] redsnowbird that's a pretty wide scale... the largest number I've heard thrown around is about 1100... the biggest questions is what other banks are still yet to jump into/back into the fray
[dietcokeandice] BWM i am really wondering about the gold Russia is supposely acquired something about the weight of the Statue of Liberty what crazy to me to understand why
[BWM] dietcokeandice well the point that most would make is the "reserve" backing and the fact that the BRICS (Brazil, Russia, India and China) want to do away with the FIAT currency system and destroy the petro dollar... the fact is that all countries want to hold a certain percentage of hard assets in order to maintain their liquidity
[redsnowbird] BWM..... really? I thought the other banks didn't want us "crazy dinarians"!
[BWM] redsnowbird the stories in the last two days alone take us back to another discussion from long ago...
[redsnowbird] BWM.... what kind of stories in the last two days..... the take us back to another discussion? Which discussion? Or can you not discuss?
[BWM] redsnowbird just old stories about "other" banks fighting over the opportunity to cash us in...
[Lance] BWM is it all WF banks that do intl currency that will do the exchange?
[BWM] Lance some of them have no idea... and prolly won't until after the rv... just hard to say how they will map out their bases
[Lance] a "group" i am in with said that after finding out a rate from WF, Chase will beat the rate and offer more monies
[BWM] Lance I would expect there to be competition.. not so much for groups but for street rates... hard to say until we see something concrete
[KarenC] BWM If I threw some foreign currencies at you - would you tell me your thoughts on if you think they MIGHT be good to park some money in for a while should we need to get the $$ out of the U.S. If you feel uncomfortable doing so I understand.
[BWM] KarenC I really think we need to see what actions get taken worldwide during the RV... the obvious choices are currencies that are currently working towards/at asset backed situations.... again, if they don't have anything to back up their currency where is the worth...
[BWM] KarenC here's my forinstance... canada looks like a great opportunity... BUT what implications would a strengthening dollar have on them.... on the flipside what ramifications would a weak dollar and lesser ability to buy have on a canadian economy that gets a lot of purchases from south of the border
[redsnowbird] BWM.....Okay.....put your thinking cap on....... I feel that if you give your IQD to your charities before the RV..... it is better for you and for them.....reason being, if I exchange it myself.....I have to pay approx. 40% tax......and the charities receive less...
[BWM] redsnowbird that's a preference thing... personally for me, I have to figure my tithe... and if I'm tithing on the entire amount then I'm possibly shortchanging my personal obligations... consider this, are they going to cash in as a group... if the group rate was say 3 times more... would you come out better giving dinar vs. paying in cash... just something you have to consider for your situation
[gtabdinar] redsnowbird Remember...you get to deduct that value given at the time. But I do agree it is better to give it to them before the exchange....as always....talk to your tax professional/attorney. Cuz there may be limits on the amount you can deduct in any one year. Hope that helps D!! [redsnowbird] BWM gtabdinar Don't forget....your charity allowance has to exceed a certain % of your Adjusted Gross Income......and, also don't forget the new tax law changes that phase out charity donations for the wealthy.....which, will probably be the majority of the dinarians.
[BWM] redsnowbird another consideration.. you are only allowed to give a certain amount or percentage each year to a charity to allow credit
[gtabdinar] redsnowbird That's exactly my point sweetie. that is why I think I am just going to give it to them now....and let them exchange themselves. But a tax person needs to calculate all that stuff. Mine told me...don't worry about just give it beforehand. So that's what I have done. That's my Tithe.
[KarenC] BWM Most of us are going to need a CPA to follow us around to remember all of the new rules and laws in place.
[BWM] KarenC it depends on how "active" your investing really is... I personally have different plans in place that may or may not require much personal involvement
[katfur2] BWM Check out Charity Trust, different ways to give yearly the interest then full amount on your passing.
[BWM] katfur2 I plan on cashing in and putting into an account for payment out to different entities over time... but I will set it aside immediately so that it cannot be touched for other purposes... again, each needs to have a plan and just follow what's best for you
[katfur2] BWM That's about what I plan. spread it out so each year the interest on each trust will go to Wounded Warriors and St. Judes.
[KarenC] BWM That would be incredible. I do not stop thinking about how to protect what God will give to us and to steward it wisely. I would hope we could come up with something that would not require us taking care of $$ as a full time job. So much work to be this kind of wealthy. haha
[BWM] KarenC precisely... I want to enjoy not only the benefit of having that money but at the same time seeing the seeds that He will plant from it
[dietcokeandice] BWM is this going to last another 9 years
[BWM] dietcokeandice not with me around
[HeIsFaithful] BWM are you still encouraged?
[BWM] HeIsFaithful um... I haven't given up yet... this is another one of those "grey" periods when the information sounds good, then bad, then good, then who knows... I try really hard not to get too high or low... some days are better than others in that regard
[BWM] HeIsFaithful I expected a lot more "fallout" on the boards today... jumpers and such... fortunately, it's been relatively quiet
[katfur2] BWM You heard about VND doing a small revalue now then between 14 and 16 months a big one?
[BWM] katfur2 i've heard a number of theories.... just hoping that we get some real movement soon
[HeIsFaithful] BWM It seems like hard assets would be better than currency on some levels... gold silver realestate... did you discuss this before I arrived?
[BWM] HeIsFaithful I agree on the metals..and there are a number of others ppl may not have considered... as far as real estate, that's definitely a personal preference... I will consider land... not much on houses as investments... but that's just me.
[chrivers] BWM think banks are getting the opportunity to capitalize on this historical event...
[BWM] chrivers oh they are doing ok...
[HeIsFaithful] BWM I was thinking land as well and possibly mineral rights... what other metals?
[BWM] HeIsFaithful I can't give away all my secrets.... lol actually just look at any metal dealer... you'll see [KarenC] BWM I agree we have been looking at large tracks of land.
[BWM] KarenC do you want to sing and dance to?
[BWM] KarenC sorry monty python reference.... she's got HUUUUGE..... tracks of land them