THE BIG CALL WITH BRUCE TUESDAY, OCT. 04, 2016, INTEL NOTES ONLY - TRANSCRIBED BY PINKROSES - Part 2 of 2
(Dinar Recaps Note: This content is for general information purposes only. All information given is the opinion of the provider. It is not legal, tax or investment advice. Each situation may be different…and the procedures listed today may be subject to change.)
Bruce: The amounts are based on exchange of 50 trillion dollars. If going to have more than that in your exchange you will have to set up your percentages and your amounts accordingly. If less than that amount, then you will be able to change your amounts accordingly this only an example based on 50 trillion dollar based on the total exchange:
Sue: 90 percent in checking, 10% in saving per account.
Bruce: Exactly opposite of what I thought. I'm going to throw those numbers out. I think having a separate checking account maybe valid, maybe important to do that, but to me not necessary. The savings account, I don’t know what to do with the word savings in what we are talking about. We are looking at huge numbers for investment. Seeing we are talking about a savings account seems strange to me. Although I can see based on some of the numbers we are coming up with, I can see how it can be as screwed as a savings account.
Sue: What is the difference between what this is than structured payout?
Bruce: Guys we have heard and we have mentioned on this call the concept of structured payout. I am here to tell you as of now we understand from the lead bank, structure payouts are not a concern for us. That there is no necessarily a structure payout for us.
Sue: That is breaking news.
Bruce: It is. I am going to try clarify this and try to make this understandable. It caught me off guard today as I heard about this. Fully prepared to do the structure payouts. My understanding now is it is not something we need to be concern about. Unless there is some change I don’t know about. This is what I am getting from people in the know, direct. This gives you more access of the funds you are going to need for projects. However, realize some of these numbers are so large the vast majority of these funds will stay in safe bank accounts or investment accounts as you move some funds around and leave some fund where they are in trusts accounts. Because you are either the executor of your trust, and because you are a trustee possibly of your trust, you have control over the funds in that trust account. It is your money. It is God’s money, but you in charge of it. Without the structure payouts to restrict you, you have the authority in how to assimilate those funds as you become a Philanthropist, employ people, hydrate countries of the world with humanitarian projects. This is saying is you should set this up with yourself as trustee, and trustees with people you trust. These trustees will help you to manage those funds in your trust, and you should have access to the money in these trusts unless you are in some type of investment that keeps your money locked up for a while. You will have access to the funds. A major change of what we thought we were looking at here.
Sue: The appeal of the structure payout was that we were going to be delegating to the bank how that money would be moved, how it could be processed, how it could be distributed. With the trust, the funds available, who is going to immediately take over for the responsibility for that? Can it be Abbott Downing to work to be our representatives?
Bruce: That is with the structure payout scenario, the work was basically being done for us and we had not as much as control of it. Under the new scenario if we work with Abbott Downing which you would especially if you have ZIM. I would say I need some help from you in the initial management of this trust. I might be the executor or one of the trustees. You might need someone at Abbott Downing to be a co trustee to help you move those funds or have authority in conjunction with you to move those funds. This is where the attorney and CPA can help you with especially in a follow up appointment with Abbott Downing. Initially you are the ones in control of these initial funds. Don’t think you will take out millions, billions, trillion dollars right away. Just take out a little bit and think how you want to fund and hydrate the projects you created or affiliated with.
Sue: What you are going to be doing is acting as the founder of this trust, the creator and you want to have a trustee acting as the experience CEO, running, managing working with you to design how to giving out your money, everything about that trust. You basically going to be and I would ask this who I will be working with as my primarily executive trustee to design how this trust will function, how to implement how this trust will function
Bruce: Remember it is up to you to find that person. Now Abbott Downing can help you who that trustee can be. They will hopefully help in that role.
Sue: It is basically going from a garage soft ware designer and meeting with the creators of APPLE. Abbott Downing, say to them you know the pool of people in ultra high net worth, I want to work with you to find the people to find the people how this trust run and manage. That is really important language. They need the role how this money going to get move.
Bruce: What we need to try to do is take some steps. These are some of the first steps to take. You don’t have to do everything right away. You want to find the structures you want to use with your attorney in 45 days. Set up and make any changes you need to make to replace your skeleton trust. You are going to need some help with this. That help should come from your attorney also. Whether the attorney they going to loan from Wells Fargo and Abbott Downing, your attorney will help you supply where your trustee come from.
Sue: You can hire deep experience. Even if you don’t know what you are going to be doing, hire the experience you need to help your knowledge. There will be people for hire, and get ready to know that is what you will be doing in a non structure payout trust approach.
Bruce: This is like learning a language, thrown in a foreign immersion. It is being thrown in a pool and not knowing how to swim. This is where let them know, don’t fake it like you know what you are doing. They will see right through you. Let them know up front you will need some help with this. This is new to me. They expect that form 95 percent of us. Don’t be afraid to ask for the help Make sure you realize you are could be in for an immersion experience.
Sue: We are trying to simplify it.
Sue: Allowances: Only an Example of 50 trillion dollars: Allow up to 20.5 trillion per trust based, your amounts will vary. Set up at least 3 trusts. Set up at least 3 foundations.
Bruce: I don’t agree with that. That is more foundations most people will need.
Sue: allow up to 10.5 trillion LLC, set up at least 5.
Bruce: Going to depend on a person’s own desire or needs whether they have more than 3 trusts and LLCs. You may use a LLC inside a trust. I am not an attorney or CPA, these are just suggestions that have come from up high. Just work with a number of LLCs trusts and foundations that you feel you will need.
Sue: When I go in, I going to say I want to set up what you recommend as the simplest framework initially, maybe 1 to 3 trusts. Simple and effective as possible
Brue: We need this to be made function able, simple and not complicated.
Sue: When you control your funds you mandate your own payout schedule.
Bruce: This is referring to in fact you are a trustee of one or more of your trusts. You mandate, or order, controlling the payout of funds and as the funds comes in from investments or interest paid on those funds you control where the money goes. You and your trustees will control that.
Sue: Use every other month disbursement for 3 to 4 new bank accounts. I think what is important in this are the names of the banks mentioned here.
Bruce: Set up the amount of the accounts that you feel you need that you can manage or your trustees can manage. I am not going to set up super number of accounts just to have a bunch of banks to work with. I may only have 3 or 4 banks to work with initially, and have a few accounts with each one, maybe two in each bank. I am trying to keep it simple.
Sue: It mentions these branches to set up other bank accounts with: TD bank, HSBC bank, American Express bank, American Bank to be consumed or taken over by Wells Fargo in 145 days, and Royal Bank of Canada.
Bruce: RBC may have banks in the states. TD Bank certainly dose have banks in the States. The American Express bank is a bank that will be taken over by Wells Fargo in 145 days. That will give Wells Fargo an extremely important credit card with American Express. There are some other banks, 5th third bank, tier two banks, home town banks.
Sue: If you feel a need to set up one or two non interest bearing accounts you should execute these in 45 days of redemption as we are now in October, but with 10 percent going in savings account the interest and taxes are minimal.
Bruce: Because we are in the 4th quarter of the year now, the theory is if you want to keep your tax obligation down for this tax year. This is the question for the CPA. You may want to use a noninterest bearing account if you want to minimize the taxes you will pay. The interest the bank pays you even if it is in your trust is taxable. If you earn money inside a trust the trust does pay taxes at the corporate rate. The only point of that is that if you don’t want to have tax obligation or much of one you can use a non interest bearing account through the end of the year.
Sue: Go and review your notes tomorrow. Get it solid. The next thing you want to do is see yourself going to the exchange meeting with an Abbott Downing representative. One day a week or afternoon a week to set up and say to my accountant what do we need to get the taxes down, or who do I need to hire to manage the trust to be the trustee,. Give yourself half a day once a week to know this what you are going to be doing with this money so it is manageable in your head. It can be as simple running it one afternoon a week. That should help you to manage it. I hope that is helpful to you.
Sue: Use discretion when offered perks or concierge services so they are reflected of your well being and life style.
Bruce: Pronounce the G in concierge. (LOL) All I saying is you do have some perks and you want to make sure whatever you ask for in terms of your list. You will have a two page list of perks that are freebies, things you can take advantage of. Don’t go nuts with them. Make sure they are things that match of our life style and who you are.
Sue: Make sure they are reverent. Such as private air, great tickets, 24/7 attention would be reverent.
Bruce: These are things that are supposed to be available as perks through the family office of Wells Fargo and Abbott Downing will have. The top credit cards have concierge services. Tickets, restaurant reservations, etc.
Sue: No Black Cards.
Bruce: The No Black Cards is you have to make sure you do not flash it. If you took a black card keep it at home and keep it safe. Only use it for big purchases, or going to be in a high end area where it is not uncommon. Otherwise not give it to a waiter to take it to the back and ring up a 40 dollar dinner. Wouldn’t use it. That is why NO black card. Be safe even with your debit cards. Don’t do something nuts just because it is cool.
Sue: Or status.
Sue: Gold or platinum cards are fine.
Bruce; I know the line of credit these are not as high as black card. You can get the limit raised. That is what your bank would do for you. Talk to the bank and say I like my $5000 day limit but want to bump it up to $20,000 a day.
Sue: American Express and Centurion Bank card
Bruce: Centurion Card is through American Express. They have the Delta Sky Miles.
Sue: Black card has no credit limit, card used by invitation only.
Bruce: Black card limit based on your ability to pay. If they see you have billion dollars in it, you have carte blanche, no credit limit.
Sue: Use UPS store mailboxes for physical addresses
Bruce: Good idea to use the UPS store for your mail box.
Sue: Get a copy of JJ Luna How to be Invisible book
Sue: Register with the NRA
Bruce: A lot of people are registered with the NRA. If you are somebody going to purchase or has a firearm this something you may want to consider doing.
Sue: Get firearms register in the state you reside in or you are planning on moving to.
Sue: Have access to 6 personal safes in 6 different locations.
Bruce: This is a personal choice. This is the thing having gold, jewelry or anything nice you have to protect it, keep it safe. You may need to have several safes in different locations. It is going to depend on you.
Sue: Allow for 6 safe deposit banks in 6 different banking locations.
Bruce: You are not supposed to put currency in a safe deposit box. A safe deposit box handy for documents. You only have access to that when bank hours open. Consider that. Most of the banks you are going to work with say 3 or 4 banks at the level you are, they would extend to you a safe deposit box at no charge
Sue: Look into a personal body guard, liaison, and or assistant.
Bruce: Good suggestion. Can the body guard blend in so where it doesn’t look like you have a body guard? If they are dressed like secret service it might not be best. It may not be the way you want your body guard to be dressed. If look like a guy you hanging out with, or a woman that is fully capable and armed that is the way to go. Try to blend.
Sue: Everybody, I know these may sound strange. Think of it as we are putting out new design, like new consideration for you to think about. You are going to be in a different kind of design. You don’t have to do these but they will helping you to think of new designs you want o incorporate.
Bruce: If your life style does not change dramatically that much and you are comfortable more power to you. We are just giving you suggestions you might consider.
Sue: Look into a personal driver.
Brue: A personal drive is someone who would drive you around instead of you driving yourself. They drive a car for you because you may be older it is a great idea having someone else driving. Or if you have vision problems you might want someone else to do the driving. Some people just want to do other things while in a car, like be on the phone, texting, looking at scenery, etc.
Sue: Acquire 3 different vehicles and alternate every 5 days.
Bruce: Rotating your cars is so no one follows you and gets picked out. You just want to try to mix it out so you not spotted to have the same car every day.
Bruce: That is an important list. Main thing is the understanding of the concept of the trusts you are controlling these funds with trustees, and you may need help appointing them. That is where Abbot Downing, attorney, CPA may give you help. You will need trustee if you have 3 to 5 or more trusts. This information put out so you can be prepared in your mind what the redemption process look like. These are the basic you should know going into your appointment.
Bruce: We are thankful to bring this from high bank management source. I think where we are is very close according to what we heard. All I can say is if it is not the next day or so, it should be here this week. Keep that in mind. We will plan to do another call Thursday. If this happens between now our next call we may do a short recorded call and put it on thebigcall.net and the 800 number if we get it in time. We expect to put that out on other sites for information and put it out before Thursday call. Stay in faith as you have. Just start visualizing yourself going through the exchange process as Sue suggested. See yourself in doing putting everything you have together in one place. Easier to access. See yourself in the outfit you may want to set aside so you are able to get right to it when you are ready to go to your appointment. Have a clear head, warm heart and have you thinking of being a good steward of these funds you are being entrusted. May take couple weeks off after this happens to get situated ourselves, but we will put further call information on our website. We are expecting a change in calling in number maybe after Thursday. Make sure to check the website for new call in numbers. I don’t have them yet when they will be in effective yet. We will let you know as soon as we can on that.
Bruce: Everyone, thank you for coming in tonight and listening to the Big Call. Thank you
Sue, Bob, and Pastor Steven for being available and right there with us as part of the team. Thank you others out there in Intel community gathering information for us that we can utilize. We appreciate you very much.
Bruce: Thank you Big Call country and Big Call universe and any special guest we had on our all tonight.
THANK YOU BIG CALL AND BRUCE FOR ALL THE INFORMATION. WE APPRECIATE IT VERY MUCH, MANY BLESSINGS FOR EVERYONE ON YOUR TEAM. HUGSSS