(Dinar Recaps Note: This post is for informational purposes only. It is not legal, tax or investment advice. Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.)
Exo's 2/11 Intel and Q/A Transcript
Posted by D Dendrite on February 13, 2015 at 3:41am
Hi all, at Exo's invitation, here is a transcript of the call last night:
Here’s where we are – everybody’s pretty excited…a lot of you read the Mountain Goat post…
Right now where we are…it’s a pretty sizeable cover for the Monetary Reform in Iraq, and that’s kind of going to be covered by the US Administration is doing right now which is this new bill they are looking to potentially get through – kind of like they are looking to drag the I.S.I.S. situation out for another three years…
Obama said they are not looking at doing ground troops or whatever…but if you look at that from a global perspective, the fact that they’re doing their Monetary Reforms – set to start on the 12th…it’s already the 12th right now.
They should be in the Mosques we are thinking in about 3-4 hours, and we’re looking for some type of announcement to take place in the Mosques and we are looking for something from Abadi because as we already know, the 12th is the reform date set.
He also put a statement out in reference to the budget last week, where he actually stated that the Monetary Reform and those things would be implemented once this budget was open.
We’ve already got multiple confirmations globally in reference to the budget being ratified. Now there are a couple things that are going to take place because a lot of people thought that just because it is ratified it means we can exchange today…well there’s a 1% possibility that that could happen but it’s really not likely and I’m just going to kind of explain to you guys why –
We’re looking at starting from, I would say Saturday through the 18th-19th because what they’ve got to do today because its already Thursday in Iraq…they’ve got to pass a basket of laws – they’ve got different councils, whatever – just to kind of simplify it – they had to agree on this basket of laws because this basket of laws literally, are tied directly to the budget for the Monetary Reforms.
And what these laws do is open up the private sector. What it also does is opens up Iraq to become International at that point. So they can actually take foreign investors in – you are probably familiar with Article 4, Article 14, based on the IMF protocols.
Based on the IMF protocols it looks like they’re in the process of transitioning to Article 8 – a lot of us have been looking for Article 8.
A lot of people have studied Article 14 and that transition is going to require us to have some type of International Rate – from our understanding, from what we read based on the IMF protocols.
Another thing, from a Budget standpoint, we’re pretty confident when they open this budget – how it is going to be structured – because you’ve got an RI, you’ve got an RV – but in order to get to an RV, you have to do an RI first, which will be a Re-Instatement of the currency.
And even though we know these things have taken place behind closed doors, what they’re doing now is just making everything formal.
So we’re pretty confident when the rate comes out – and we’d also heard that there is a Rider structured inside of the Budget possibly so that they could release the Budget without actually showing their full rate immediately.
But we know for a fact that in the event they do come out with the 1166 rate, or 1186, or 1/8th of a penny…that rate is going to increase to the RI.
With the RI, there are several things that can happen at that point, we can have an RI for a day, 2,3,4,5 days – from there it can transition to an RV.
Another thing that could possibly happen – we could have an RI and an RV simultaneously, or they could be a couple weeks out. But either way we know they’re going to have to have an International Rate when they open up this Budget, in order to help support the economy, and they’ve got a lot of bills due.
The good news, the great news everybody wants to know is yeah the Budget has been passed, ratified. That’s what we’ve been looking for all these years, for this thing to be in the Gazette – and like I said we’ve got multiple confirmations on that, so based on all that information and with today being the Monetary Reform Date set, because it’s already the 12th in Iraq.
We should be looking for some news, things coming out of Iraq probably within the next 2-3 hours and we’ll be posting those on our website…look for Abadi to come out and say something.
We also got the notification that Christine LeGarde did come out and make her statement. She also mentioned the IMF Reforms as well, so things are moving forward and it really looks like, based on this information, we should see Santa Claus…we should be getting ready to see a Santa Claus picture on the website, and like we said when we put that picture up it means you can go to the bank immediately.
As far as groups, it’s a possibility there’s different scenarios.
We know that Dinarland has been somewhat classified as a group; we know there are also independent groups.
We’ve heard different things where some groups are going to go before the general public whatever, but the way it looks right now - it’s kind of looking like everything’s going to move at the same time, simultaneously.
Groups may have a slight head start but the way it’s looking right now, it would just create more problems if they did that but we don’t have any rules, you know, just so you guys know if you are in a group or if you joined a legitimate group you might want to start checking your emails like immediately because something should be coming out from these groups.
We are thinking anywhere between now and Monday, and like I said the back wall we are looking at is the 18-19th.
I just got that from some of our contacts about 30 minutes ago and that can kind of confirm what we were saying last night because you know, it’s kind of like a real estate transaction…let’s say if you purchase a home and you’ve got 3 days to cancel your loan, and then you’ve got to get it reported and then you’ve got to go to the courthouse and record it with the lawyers…the simplified version is it’s the same thing taking place with Iraq.
And once they pass these laws they’re going to record these laws. These laws are tied with the Budget, and game over, checkmate, we’re finished.
(Anonymous) (Greetings, don’t know how to maneuver the S3A site)
Question – If you could just explain, do you know anything - people saying Dong coming out at $.08; Zim not going to be recognizable in their country, so we’re not going to get anything for it, worthless; third comment, I really don’t understand too much about it like a managed quote if it comes out at 1166 or whatever, I mean – do we might have to wait like you said, so many days before we can go and if it’s true that we can exchange like one note so we can live and then go make and go to our appointment?
EXO – Let’s start first with Dong – we’ve heard different numbers on the Dong and as we’ve always told our members on our website, Be Prepared for the Ultimate Bait and Switch.
What do we mean…the stage is set right now for the ultimate Bait and Switch and we’ve got to keep in perspective this is still designed for the banks to win.
So you have to do think like a crooked, corrupt banker for a minute…if you are a banker and you know there are literally millions of people all over the world who have currencies they want to exchange, and you understand they have been waiting on this to take place and they’re in some not-so-happy situations financially…what is the first thing you are going to do as a banker to maximize your profit, or your yield spread – we hearing there’s different spreads, we hearing there’s going to be a standard 2% flat fee, but the bottom line is once the banks get this currency…there’s all types of leverage structures that they can utilize to make additional revenue.
So our perspective as we’ve always said is there’s going to be a Bait and Switch.
What we mean by the Bait and Switch is the objective of the entire currency exchange is to increase the foreign reserves and the foreign currency holdings at the banks and institutions.
From a business perspective it is in their best interest to come out with a lower rate to suck all these folks in fast before a higher rate will come out.
And that’s why we always tell people you need to make sure you have an Arbitrage plan and strategy in place.
In our opinion, one of the best ways to play the Arbitrage game is utilizing Layaways and Reserves.
Let me explain to you why…
if you’ve got a Reserve or Layaway with one of the currency dealers – let’s just say you’ve got a 45 or 60 day Layaway and the rate comes out at $.08 or $.06 or $.03; you can take that Reserve and exchange part of it and leverage the rest of the reserve throughout the duration of the terms of your contract.
As that rate increases you can then exchange in intervals off that one reserve. You can cash out part of it, wait on it, watch it and then exchange the rest of it later or however you want it.
So in our opinion one of the best Arbitrage and leverage tools that you are going to find is to utilize the Reserves or Layaways from an Arbitrage perspective.
Now from the $.08 situation there’s another thing you can do and that’s why we told you want to make sure you fully understand the difference in the Multi-Currency account and the Multiple Currency account.
A lot of folks are saying that the banks aren’t going to do them but we’ve actually talked to the largest Banks and Trust companies, and they do these accounts at your higher tiers; more so on the institutional side.
They also do these on the Private Banking side as well as the Wealth and Corporate sides of the bank.
So this is where you could utilize a Multiple Currency Account – you could park your physical currency in this account, even though it’s going to become digital – your currency stays in that format and you haven’t completed an exchange yet.
At that point, as that rate increased and you had your currency parked in a Multiple Currency account - as that rate goes up, you have an opportunity to exchange your currency while it’s sitting in that account. And at that point you can convert to USD outside of that account at different Arbitrage intervals as well.
What we are hearing on the Zim- we’ve heard there is going to be a 6-lop on the Zim- and the Zim may get interesting – it’s a possibility that you may have to look at some alternative exchange options on the Zim, or some alternative leverage options on the Zim.
In the event that it is not recognized immediately…we’re hearing that it could be, but again there are no rules so in the event that the Zim is not recognized immediately, there’s different things that you could do and we’ll discuss those things later.
But there are different ways you can leverage that as a bank instrument by using different Hedge Funds or Wall Street Banking Firms or Investment Bankers and Fund Managers in the event that Zim does have some value.
Now, we understand, we have been tracking the Zim…you know you’ve got different symbols – the ZWN, ZWR, and one of those notes, the new note they introduced, that now is trading and you can look at the numbers on Bloomberg.
So one of the things that could possibly happen and we’re pulling all these scenarios out, is the possibility that you may have to take that Zim note that you currently have and convert it to the other Zim notes that are taking place – this is just a scenario that you want to keep in mind because like we said there are no rules.
Caller 605 – re Zim and converting it – do you mean before the revalue or after?
EXO - Well there’s no guarantee that we’re going to have to do this, these are just some options, things, scenarios that could come into play.
Because in the event these notes we have are not recognized we’re going to have to convert them to notes that are recognized.
And the only way you’ll be able to do that is with a Wall Street or Investment Banking Firm in the event that the banks in the US don’t recognize the currency.
We do know that the ZWR is trading but a lot of folks have I believe the 2008 AA notes, you’ll just have to stay alert right now.
As far as, do we know if they’re going to take these notes at all the banks, I would not be surprised if they did because one of the things we do know as we look at what’s taking place with the SDR currency basket, and we know for a fact that things are going asset backed as well as currencies pegging and depegging…so from that standpoint we know it’s going to be an Asset Backed Currency, we know there’s going to be value and it’s going to be accepted somewhere, we just don’t know exactly where yet.
Because like we said everything is pretty speculative, but we’ve heard the same numbers on the Zim, anywhere from $.03, $.08, $.11 what-have-you, it’s just a matter of where are we going to be able to exchange these Zim notes.
We did talk to a banker at Chase about 3-4 months ago and they alluded to the fact that in the event they did not do Zim exchanges, there were some other options to get those currencies taken care of and those are some of the scenarios we have to prepare for…because even though we are happy and people are about to change their lives and be able to help folks and do humanitarian projects and live a new life, we still have to keep in mind and keep in perspective there still aren’t any rules. It’s still speculative until those rates are actually live on the screen. So just keep those different scenarios and options in mind on the Zim.
Thank you. Another question – when it becomes live internationally are you going to bring up your new website – (currently not getting any emails, but) how will that process work?
EXO - Here’s how the transition is going to work – it’s going to be a new website with different functionality and features, but you are going to enter the new Stage 4 website from the Stage 3 website.
So if you look on our main page on the Stage3 website there’s a button that says Stage 4 Under Construction.
Once everything goes live and we get through the first – well I wouldn’t say the first – I would say it’s probably going to take at least - before everybody is ready to start doing things in Stage 4 the transition of doing exchanges successfully - I would say that’s going to take at least a minimum of two to four weeks just from that education process…because right now waiting on this currency to go is just the easy part…but once this thing goes live that’s where this whole thing changes and it becomes even more complex.
Because now you have to figure out several things and we’re going to cover this on our next conference call.
But one of the things that you’re going to have to consider is in the event that the US dollar devalues – because we already know the USD Index price has been artificially increased, so we know that number is going to drop...now you might have a misconception of what devaluation technically means.
It’s not like you’re going to really feel it totally here in the US – it’s not like when you go to the store to buy a pack of gum or chips you’re really going to feel it because it’s really going to have the major impact on goods and products outside of the US.
But that’s where that MCA Account comes into place because you have your currency, even though its digital, your currency is still in that format in that bank account and from that point you can leverage yourself and only convert to USD as needed, by keeping it in that particular account.
Those are some of the things that people are going to have to get through before they start wanting to do things…
Some of the things that we are going to cover on Stage 4 are 1031 Exchanges – they are excellent tax structures tied to real estate.
A lot of folks may not know what Triple Net Leases and things of that nature are…they are excellent places to park your money.
One of the things that you want to do is place your money into things that are generating cash flow – but you want a stable cash flow situation.
An example of a Triple Net Lease would be a building – a Walmart for instance. Walmart typically doesn’t own the building for the most part; that they are in. They lease it from somebody.
And in many instances these companies, from Walmart, Walgreens, Taco Bell, Burger King – whatever – they will sign a Triple Net Lease transaction where you have a cap rate which is kind of where you can park your money – that’s one of the complex things that we’re going to go into along with Real Estate Investment Trusts.
We’ve got the main things ready that I think people are going to need once we transition to the new website.
But I would say the learning curve as soon as this thing goes live – let’s just say we go live around the 18-19th – folks just aren’t ready to start doing the things I just discussed.
The first thing you want to do is make sure you protect your principal and from there we’re going to go into some structures like foundations.
A lot of folks don’t really understand the power of Foundations and Trusts.
We going to also cover LLC’s – I think LLC structures are real important because one of the first things you want to do is once you get this money you want to make sure you disappear off the radar.
So at that point one of the fastest structures…a lot of folks have been pitching that people need to set up a Trust first. But we think a Trust should be the last thing you set up.
Let’s just say if you set up an LLC, you can put your vehicles in it, if you purchase a home you can put your home in the LLC; you can put the light/power/cable/gas bills in the LLC structure, and at that point your life becomes a tax write-off.
At that point you no longer go to birthday parties, you have a business function.
At that point you no longer have lunch with a friend or go out to eat with a relative or your spouse.
At that point everything you do is a business expense and it’s a taxable structure that you can get that money back by utilizing the LLC.
Once you structure your LLC you start looking at instruments like executive bonus plans.
Most corporation executives don’t use 401k’s – when you see these CEO’s of these companies getting these bonuses they are tied to executive bonus structures.
So what you do, even though you own the LLC in your name – let’s just say the LLC was ABC LLC, you own ABC LLC, but ABC LLC paid a salary to you along with an executive bonus structure.
There’s a lot of things we need to cover and I could stay on here for hours! But you kind of get the idea there is a lot that people don’t even know.
Another question – controversy in the past – when we bought the currency we always paid cash but when we exchange it and put it into an S-Corp or an LLC, can we put it right in there or is it an issue because we took the money out of a different account?
EXO – That’s a misconception that folks have created in Dinarland.
There’s several ways you can do that – you can take your currency…let’s just say if you’ve got an S-Corp, C-Corp, SubChapter-S, or a Nevada/NewMexico/Wyoming LLC – wherever you’ve got a structure set up, there’s several ways you can do that. You can actually transfer the ownership or title almost comparable to what folks do in real estate which is called a quit-claim deed…so you can literally sell that to your company from you as an individual, you can transfer/donate it to that company, it can be a gift to that company.
And as long as you’ve got documentation showing that company now owns that currency, you can do an exchange in an EIN number, whether its tied to a foundation, Trust, LLC, C-Corp, S-Corp, SubChapter-S or one of the other LLC structures we mentioned. It’s perfectly legal, and that’s a book you need to go get “Perfectly Legal” (2005 David Cay Johnston) by the way.
(201) Question – Where to find gift letter? And is there a cap on exchange amount?
It varies depending on the amount on the existing gift tax law structures. We can put that on the website for you.
(510) Question – I have an LLC, at what point do I put my dinar into the LLC?
EXO – Really no set time to do that because it all depends on what your plan and strategy is. Are you exchanging everything, or part of it into your exchange? Are you exchanging with your personal or your business tax ID number?
(All into my LLC which has my business tax number)
EXO – If you are going to do that, prior to this going live, in fact do it tonight. When you purchased the currency did you purchase from your LLC structure or in your individual name?
EXO - Okay there are several ways you can transfer that:
1) Draw up a basic contract arrangement between you as an individual and your company – so you could literally sell your currency to your company for $1.00. At that point your company owns your currency and at that point to solidify the transaction so there wouldn’t be any questions, I would also make sure I got that notarized and recorded with the Clerk of Courts at my local Courthouse.
(I live in CA, LLC is in Nevada)
EXO – I actually have a couple Nevada LLC’s, but here is the point that I am making – you still need to report that or have that document notarized somewhere because when you transfer that ownership, that makes it a legitimate, legal, binding, contractual agreement and obligation. So you can do that; I wouldn’t get a lawyer to do it, they will charge an outrageous fee…
2) The next way you can do it is donate the currency to your entity from yourself – you can write a simple document up that says “I, ABC person, am donating X amount of dollars to ABC Corporation/LLC”. Sign, date, notarize and record it at the Courthouse. Make sure you get these things notarized and recorded; you just want everything to be clean and there won’t be any questions when you go to the bank or the dealer and they say, “Well you purchased this currency in your name and we’ve got it documented that you did it right here”. At that point you pull out your paperwork and say “I have my documents right here, it’s been notarized and recorded with the Clerk of Courts and on ABC Date, this is what took place and here is my documentation to show it”. So at that point you are now legitimately making a transfer of that currency ownership from you as an individual to your corporate structure - like I said an LLC, SubCorp, S/C-Corp, what have you.
(…Glad it hasn’t RV’d yet because I had no idea this is what I could do…)
(907) Question – you start an LLC, then you can put your LLC in a Trust?
EXO – …People have a total misconception of Trusts. And I haven’t ever told anyone why we haven’t even started this education stuff, but to give you a short story of where this whole model came from…our model derives from some of my contacts, especially the one that worked with the Rockefellers and had another business associate and they were pretty heavily involved with financial global banking and what have you…
We got on a call one night and we heard this guy on this conference call and he was telling the whole planet to buy the same Trust.
See, for starters, everybody has a misconception that “I need to get a Trust”, but there’s over 100 different types of Trust structures – and you can’t even figure out what type of Trust you need until you get your initial financing in place.
Because when you structure your Trust as one of my contacts has always said…the Trust is the LAST thing you put on, for instance if you’re putting on a tuxedo, the Trust is going to be your HAT.
Because once you set up a Trust structure – you’ve got Spendthrift/Dynasty Trusts – you’ve got Trust after Trust after Trust for specific purposes and functions…
So when this exchange goes down, 99.9% of Dinarland do not even know what type of Trust they want because – let’s just say this thing went live tonight - there’s no way you’re going to know that until you meet with a Financial Advisor and find out how much money you plan to live your life off of and how much money you want to give to other people. So that’s why we say the Trust is LAST – and that’s just our opinion.
Now as far as an LLC – how do you structure an LLC into a Trust – yes, you can have structure like that and let’s say you had a Trust called ABC Trust and your LLC was the Alaska Corp.
There are different ways you could structure that; you can place your business structure inside of that Trust for added protection and security – but everybody is trying to hide all this stuff inside Trusts and all, but if you’re not trying to do anything “out-the-box”.
I don’t know why people have the conception we need to hide all this stuff – it’s not necessarily hiding it – it’s mostly, and it’s not tax evasion, it’s more so called tax avoidance, legally.
When you put these structures in place, like these Trusts or these LLC’s – I’m going to give you a real estate example as to where a Trust could come into play; but you don’t necessarily even have to use a Trust, you can use what’s called an Alien Corporation or an IBC “International Business Corporation”.
So let’s just say I’m in Alaska, I come to your house and slip on a piece of ice and break my leg. The first thing I’m going to try to do is sue you.
The way you were structured, leveraging a Trust or an LLC, or, even an IBC; an IBC would be even more added protection on your property – what you would do – that property would not be in your name.
That property, in your IBC for example – what you would then do, and these are just some of the scenarios people don’t even think about…what you could do at that point – you then take your other corporation or entity and file a lien against yourself to your other entity structure.
For instance, let’s just say if you bought a property that was a $200K property; you own it free and clear in your company name.
Even though that property is free and clear you then take your IBC or a Trust, or even an LLC or a S/C/Corp or Sub Chapter S Corp and you file a lien on yourself for $100K – these are just for example purposes and we are not giving out financial advice, these are just examples…you then file a lien on that property that you hold for $100K – the property that you own free and clear. So, after I broke my leg and I come and try to sue you, your property already has a lien of debt on it which is the debt from your other entity and structure…so there are all types of things you can do legally, but as far as putting a Trust in an LLC and all that type of stuff – unless you’re going to be doing a lot of big global banking or some of these advanced structures, I don’t think the average person really even needs – this is my personal opinion.
Have a good night and get ready to cash out – I say “cash out” as a joke
Here is one other thing to keep in mind that we are going to be covering – when you go to certain banks or structures or wherever you are going to go – one of the questions you want to ask them is “Is your bank/institution Exchange Capable?”
We are going to cover more of these things hopefully in the next 72 hours – keep that in mind.
S3A GLOBAL PRAYER CALL WEDNESDAY 2-11-2015
(With Intel from Exogen - Intel begins after 1 hour
Info about Iraq, Dinar, Dong, Zim, LLC's, Trusts, Arbritrage, etc.)
RECORDED PLAYBACK NUMBER 712-432-1085 pin 555310