Post From Peoples Dinar By Dare To Dream:
I think we need to remember they are going to do everything within their power to confuse us. They are masters at creating confusion and they are doing a good job at it.
Somethings we are simply not meant to know. All we can do is look at the big picture. The closer we come to a change in the value of the IQD. I assume the more confusing things will become.
I know it's easily said but hard to do. We here many say "watch what they do, not what they say." The last leg of this run to a change in value will test our patience.
We have some awesome researchers and some very sharp people here at PD. We know the overall plan is to raise the purchasing power of the IQD. Iraq has been making preparations to do this.
I seriously doubt any single event is going to spark the RV. I suspect it will be a sequence of events that will build up to the house of cards falling. When the house comes down i believe the cards will reveal many if not all of things we have been looking for.
The new government being seated, the budget passed, etc. does not necessarily mean a change in the value. I hate to see people come undone when a single event and or article appears and they feel as though the sky is falling if the rate does not change.
All of these things will move us closer and eventually to financial freedom and the time to enjoy it.
I suggest we all use this time to prepare for the exchange when this happens. I am not a tax professional. I am not giving tax advice as I am not qualified to do so. Even if I were I still would not advise you.
The following is meant only as a guideline or to spark questions you may not have thought of; just trying to be helpful not telling what to do or not to do.
1) Where is your RV located?
2) Do you have the receipts with date, amount you purchased and what you paid for it?
3) Are you prepared to be treated as a wealthy person? I assure you, people will approach you differently.
4) If a bank offers you 3% extra for your dinar will you jump on it and put it an interest bearing account where will be many restrictions, such as number of transactions per day, week or month.
What are the limits on the amounts you may withdraw at one time? What are the fees? What are the limits on your debit card.
5) Might you be better off to deposit your dinar in a non interest bearing account with no restrictions. If you want to move several thousand, several hundred thousand, or several million to a brokerage account will you be able to do this with an interest bearing accountant.
6) Have you ever did the math on how much $1 million dollars would be treated if you gave 10% to charity before exchange or 10% after exchange?
Is it possible depending on your particular situation that you might actually net more on your $1 milion dollars by donating before the exchange?
Both you and the charity might realize a $80,000 net gain if you donated before? Let's assume you decide you do not want to donate anything to charity.
If you could net an extra $80,000 dollars by donating $100,000.00 to your favorite charity on a million dollars would you change your mind?
7) Is the charity you are giving to recognized by the IRS and the US government? Don't assume. Check to insure they are recognized. If you decide to give to the United Way. Is there a specific cause you may want your funds to go to. Unwed Mother's, abducted children fund etc?
8) Do you think a spread sheet might be helpful with the date, receipts amount etc all in order when you go the bank or your tax professional? Do you think it might be helpful to have a list of your creditors and the amount owed ?
9) Do you want to have cashier check list with you when you go to the bank and pay those creditors before you deposit your funds in the bank? There may be fees for these transactions?
10) Have you consulted with your tax professional as to the timing and amount you will exchange? Are you prepared for any rate that might come out 10 cents, 30 cents, 86 cents, $1.50, $2.00, $2.20?
How much will you exchange? Might you want to hold some back if you anticipate the value to increase?
11) Are your dinars insured or in a safety deposit box or are they stuffed in a suitcase or ceiling tile in your home. Unfortunately THINGS happen. A house fire, a burglary.
Does your tax attorney or any of your loved ones know where your dinar are located? What if you were to have a heart attack and die tonight. Does anyone know you have dinar hidden in the wall?
12) Do you have two forms if ID to take with you to the bank? Do you want half of the staff at the bank and all of the people who work at your post office to know your physical address and all your business?
If not, you might consider taking a passport and social security card. Your license has your address on it. Do you have your PO Box set up?
13) Everyone says that they will not allow this windfall of money to change them. This is great. However, I will assure you that your new found wealth will change everyone around you.
Some of these people you will know personally and some you probably will not know at all. Be very careful as the person who you trust the most may not be the person you thought they were.
14) Are you prepared to negotiate when it comes time to do your exchange? Will you exchange through a dealer or a bank? I hear everyone say, I will exchange where ever I get the best rate.
The best rate may not be the biggest net gain to you if there are many restrictions, fees, limits etc.
No matter where you go to exchange. Remember, you hold all the Aces, Kings, Queens, actually you hold all the cards including the two jokers. Do you even know what to negotiate for? What perks do banks offer?
15) Once the dinar becomes tradable you will want to monitor the exchange rate. How much is it fluctuating? Is there a time of day or certain day of the week that it tends to trade a few pips higher. I think you will find that there are.
16) How will you transport your dinar to the place you are going to exchange it? Are you going to throw a few thousand, a few hundred thousand or several million in a briefcase or paper bag and drive to the bank by yourself? I hope not. What if you are involved in a wreck or a car jacking?
I would certainly think you would not go alone. By the same token I do not want a brinks truck pulling in my driveway for half the world to see.
Have you considered hiring security to go with you to the bank, a US Marshall, and off duty police offer, a neighbor who knows how to handle a weapon and defend themselves and you? Oh, you hold a black belt in kung fu. Very good be careful of a 357 magnum. You are a wealthy person now.
You will be treated differently. How will you care yourself now that you may be the richest person in your town. I am not saying one should become some arrogant fool.
However, you will be expected to at least be professional in your negotiations. It will probably be to your advantage to do so. If not you may want to hire a business manager to handle your negotiations, tax professional, etc. to do your negotiating.
Either way you must educate yourself in all these matters. At Least be familiar with the word trust LLC, etc.
17) A good business manager has its advantages and disadvantages, you will be approached by more people and charitable organizations than you can imagine.
Not to mention realtors, car salesman, gold and silver dealers etc.
Sometimes it's kind of nice when your next neighbor and or neighbors all come knocking on your door for donations, business opportunities, loans, etc to hand them a card and say contact my business manager or I will contact my business manager.
I run everything past him or her, my financial planner etc before I do anything. He knows both my short term, mid term, long term goals. Maybe you plan on creating generational wealth.
How many generations to you want to cover. How and when will this money be transferred to them.
What stipulations and restrictions will be attached? How is the best way to handle gifting to minimize my tax liability. A tax professional will assist you with all these things but you should be doing some research on your own.
18) What date or your quarterly taxes due to the IRS? Would this date possibly effect my date of exchange? Who will be responsible to insure these quarterly taxes are paid on time?
You might be in for a shock if you forget to pay your quarterly taxes on time as to the penalties and interest you might incur by being late or even worse you didn't even know you were supposed to pay quarterly taxes.
I think I have rambled on enough. I assure you I could continue on. When this rate changes, you actually receive a call, an email or you happen to open up the CBI website and suddenly realize you are a wealthy person. Do not think this will not have a profound effect on you, especially if you have never experienced a windfall before?
Your mind will be racing and your heart pounding. As time goes by if you are not prepared your anxiety level will go through the roof. You will not be able to find your car keys. Where is my dinar?
How much am I going to exchange? I can't find my bank managers phone number. My hands are shaking so bad I cannot use a phone book or operate my cell phone. What should I do first?"
Who do I contact first? OMG, I can't even remember my tax attorney’s name. What street is his office? I am a thousandaire or millionaire. OMG. I have my dinar hid behind the wood stove. I hope it's still there.
If your wife or significant other is not home at the moment when you go reach in the suitcase in the back of your closet to retrieve your dinar. What will you do if it's not there? Have you checked on it lately.
My point is simple. Prepare and educate yourself for your new found wealth.
Have a hand written list of the first 20 things you need to do.
You might also want to make a list of the top 20 things you do not want to do.
Make sure you don't forget where you put your list, important phone numbers, spreadsheets etc.
Are you comfortable with the plan you have in place? You really need to be if you're not. If nothing else cash a note or two after your initial visit with your financial planner if you have not already spoken with one.
Make sure you have the balance of your dinar is secured.
Any rates your given, make sure and ask if it is good for 30 days? Pay your immediate bills, set aside money for a tax attorney, private banker, general attorney, etc.
It could cost you a fortune without good professional advice. When you shop for a tax attorney the cheapest one you can find may not be the best. Interview these people.
There are many tools in the forums or on the internet to assist you with your plan. Check on your dinar and have things in order.
We want to avoid a possible heart attack if your wife moved your dinar when she had the carpet cleaners clean the carpet in your closet this Spring. What if she forgot where she put it?
Have you ever hidden cash in a couple of different places in your home only to stop and wonder where you hid it?
You have heard the saying "It's a lot easier to make money than it is to keep it." I assure you this statement is true. Many of us are about to step into a whole new world.
It is imperative that you have a plan. When one goes to the bank to borrow money to start a business the banker is going to want to see a written business plan and how you are going to repay your loan.
Whether you know it or not he or she is evaluating and testing your knowledge when you first walk through the door into his office. The more prepared, efficient and organized you are will go a long way as to whether you are granted the loan or not.
A man / woman without a plan has planned to fail.
Remember we want to insure we are in the 15% group not the group the 85% group of people who will be broke and in worse shape than we might be now in a couple of years. Let’s do everything we can to stack the deck in our favor. We do hold all the cards.
Please excuse all grammar and typing errors. I know it's bad when I type and think out loud at the same time. My rambling gets boring and irritates some I know. Hopefully this might have sparked a few questions you might need answered.
Sometimes one little tip can you make a lot of money or even better to help you keep what you have. It's better to save a dollar than earn a dollar
When you save a dollar you keep all of it. When you earn a dollar you’re lucky to end up with 60 cents.
When Uncle Sam is finished with you, you are going to be glad you had a plan and a a tax professional to assist you. Pay all taxes owed. I personally would rather over pay a little than under pay a little.