[queenmother4] BMW if you don't mind would like to know if we are on silent mode about our investment?
[BWM] queenmother4 I have never tried to say anything intentionally irresponsible... I think perhaps some have figured out every "weekend" that won't pass, has... every update they count on, doesn't add up... and everytime they've said enough, they open their mouths again... there's just not much to really say..
[movielife] BWM-I'm representing a group-is it time to head to the big city in order to negotiate with the big 4 as I'm a 12 hour drive away. And whom should I be asking to speak with first
[BWM] movielife speak with the highest official available... president/manager/private banker
[movielife] BWM I'm hearing that to get an appointment I will need an account-any advice in this circumstance?
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[BWM] movielife not in the circumstance I have set up... the banks want "new" accounts because it helps their figure
[Scotzgirl] BWM - do banks have to treat deposits in Money Market accounts differently from other deposits? For example, do they have to hold that money in reserve instead of lending it out? Wondering if it is safer after Dodd/Frank expires.
[BWM] Scotzgirl I'm not a personal fan of money markets but that's just me... seek professional help and explain what terms you are looking for, short or long term investing and what your ultimate goals are
[movielife] BWM and so I still need to continue to wait for the RV before I contact them, right?
[BWM] movielife most won't talk to you until a rate is live... unless you already have a relationship with a banker who believes and understands the dinar
[Scotzgirl] BWM I'm trying to figure out how to keep the money I want to leave at the bank as safe as possible - if Dodd Frank expires. Do I make sense?
[BWM] Scotzgirl diversify... use several banks, layers etc. I have a tiered investment plan using international, big 4 and regional/local banks... this way locally I will appear no different
[wango] BWM is there any truth to Forex being closed from 3 cst to 5 cst today?
[BWM] wango I have not heard anything like that from my forex contact... usually their "down tim
[BWM] wango I have not heard anything like that from my forex contact... usually their "down time" is NO more than 15 minutes... too much at stake
[wango] BWM can you check someone posted it on OOM
[BWM] wango have just contacted forex... still operational... we'd have to clarify if they were discussing forex trading (up) and forex banking (i'm checking now)
[go-go-rv] BWM - If I can ask you a few questions regarding some information you had mentioned in your recaps, I would appreciate some clarification. One question is: What are examples of your 4 layers of investments (A,B,C,D)?
[BWM] go-go-rv the number of investments (A-whatever) will be based on the rate since I have a limited amount of dinar... So, with that setup the plan is simple A)safest (expecting 3-4.25% will not touch principle or interest) B) safe (expecting 4.25% don't touch principle BUT interest will feed our personal account for monthly budget, this will be posted from here once a year) and C) aggressive (notice I did not use "risky") this will be setup looking for 6+% with a stop loss that if it falls to -1% I get out...
[go-go-rv] BWM - Ok, thanks for answering my 1st question. Now my next question is: What International Bank is in both US and Canada? You had mentioned that you would put some currency into an International Bank. What percentage should one put in? Thanks.
[BWM] go-go-rv there are a number... most in NY and Toronto... TD bank, Deutsche and several others
[steady1] BWM. I know it's our decision as to which of the big 4 we choose ...I'm not sure how to go about finding one...I'm in western pa
[BWM] steady1 we don't have but 3 WF's in our state... and the closest if about an hour plus away... so I will be cashing in in another state which keeps me "out of my local" loop anyway... I don't see it as a bad thing
[go-go-rv] BWM - And what % of $$ should one put into an International account? So say if I had 4 to 10 mil on an average?
[BWM] go-go-rv that would depend for me on what your long term plan was... and who will be handling that portion for you... I'm looking about 50% of the investable income in long term so whomever I choose to handle that big 4 vs. international we'll see
[wango] BWM anything yet on the banking forex?
[BWM] wango no... not heard from banker... but if something good was going on he would have called
[steady1] BWM thanks..I'm in a small town and will have to travel a distance as well... Thanks for the info
[BWM] steady1 there's small and then there's lonely... welcome to the woods
[go-go-rv] BWM - ok, so if my plan would be to purchase a home in Canada, then I should open an account with either a TD Bank or Deutsche Bank and leave my money in an NIB account?
[BWM] go-go-rv NIB if you don't want to "earn" anything... my local account will be NIB feeding my monthly checking account for our expenses.. and yes we will be on a monthly budget
[BWM] just spoke to banker... forex banking is up and running
[go-go-rv] BWM - so your monthly budget will come from your NIB account? Wouldn't it be better if you put funds into an account earning interest and paying your debt with the interest earned?
[BWM] go-go-rv the NIB is being fed from interest from another account... this way my local bank only sees a certain amount that is put in once a year...
[codreamer59] BWM Do you think they need to shut down tot change the rate, or would it just be inputted and change?
[BWM] codreamer59 no I don't...
[BWM] codreamer59 updates happen every day
[Blessedby] BWM IYHO do you believe rv will show on forex banking?
[BWM] Blessedby it has to for the banks to operate with it
[go-go-rv] BWM - oh, good one....very sneaky
[BWM] go-go-rv this way I can keep my wealth "away" and "hidden" keeping my local information secure...
[Okienow] BWM Many are of the opinion the stock market will take a dive soon. Would you advise transferring a 401K to a money market acct until I can decide where to put it? I can with draw 401k without penalty. Thanks!
[BWM] okienow seek a professional who is assisting with your other investments...they can best place it where you can get the best overall advantage
[go-go-rv] BWM - would you consider Canada as a good International country to put your 50% into their banks?
[BWM] go-go-rv my only concern with canada currently is what affects if any the dollar will have on their currency... but I'm looking at theirs as a definite contender for at least a portion of investments
[okienow] BWM Thank you. My main concern was whether I am considering the right thing with the 401K. Market is good now so seems like a good time to make my move.
[BWM] okienow we need to stop thinking now once this happens and start thinking then... be prepared ahead of the curve (futures) and get an understanding how to gauge the markets for concerns
[go-go-rv] BWM - So would you suggest that I travel to Canada and open an account ahead of the
RV? Or wait? Is their currency going to revalue sometime in the further?
[BWM] go-go-rv I will wait until after but that is economics for me... I am doing ALL my account
(opening) once I cash in and after
[BWM] go-go-rv my whole reason for whatever country I am "investing" or opening accounts in is to have currency in that denomination
[owl2] BWM BWM Shouldn't you 'rather' be recommending named investment advisors (esp to investment newbies?) such as Martin Weiss, Or any one of dozens of others? Many of these folks are going to lose their shirts if THEY (inexperienced) try to "discern the market"!
[BWM] owl2 I have always stated seeking PROFESSIONAL help.. BUT I also believe you need to understand WHAT they are investing for you so that you are not dependent on them or worse, ignorant to the placing of YOUR money
[BWM] owl2 you may have come in at the wrong section of this conversation and perhaps it sounds like I'm suggesting otherwise... just wanted to clarify... hope that helps
[go-go-rv] BWM - currency to revalue (like as in keeping physical currency in a safe) or having an account with that currency to use as you see fit?
[BWM] go-go-rv currency in an account IN the denomination that you want
[owl2] BWM BWM OK I see that. It would be great to compile a list of "recommended advisors" with a "qualifier-tag (ie "..I've used this guys advice for years" or "I've read their newsletters for months now and find them to be very understandable"
[BWM] owl2 unfortunately... that has to be a personal thing... still too many opportunities for someone to "pose" as a professional.. I still believe in sitting down face to face or having the bank refer me to someone... I have done interviews with a couple of guys
[xyz] BWM you still feeling great about 'this' week? Ty
[BWM] xyz yes I am...
[BlessedinAZ] BWM would you suggest getting an outside the bank investment advisor, or would those in the bank's wealth management department be sufficient please? Thank you!
[BWM] BlessedinAZ my bank has a tax atty outside the bank that works for them... I had actually interviewed them to be my choice.. bank gives him for free
[BWM] BlessedinAZ he will set up my trust/llc's and such which will be the "holding" for my other investments...
[go-go-rv] BWM - Instead of gifting money, I have decided to just the ppl 25k IQD to cash out for themselves. Any suggestions on that one? Thanks.
[BWM] go-go-rv still a gift unless you have gifting letters done prior to rv...
[go-go-rv] BWM - just give the ppl....spelling duh
[BWM] go-go-rv I'd just get several made out and get them notarized..
[Believer2] BWM, do you think it would be a problem if I named 2 recipients in the same gift letter and got it notarized? That means one person would have to use a copy of that letter.
[BWM] Believer2 need each individual to be safe... copy the letter but fill in the blanks
[go-go-rv] BWM - but if it only worth $25.00 do I really need a gifting letter notorized? How will the bank know if they didn't buy it themselves?
[BWM] go-go-rv at banks it prolly won't be a big deal... but better safe than sorry...