Posted By Sager - People Invested
TDurden - Great info Here is some well thought out info:
7-4-13 TDurden: I first want to say it has been a long time since I have publicly posted anything but I have missed many of you. Unfortunately the real world caught up to me for a couple years and I had to focus on that.
However, I have not been too far away I wasn't paying attention. I also wanted to say that I am not TD (who has posted at Dinar Recaps).
I have had many people ask me and thought it might be a good idea to try and clear that up. I do not know or have anything against this person, but as many know I differ in opinion from him.
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I also want to make it clear I came back to post to make sure people had their heads up and were excited and prepared for the next part of their lives. I am amazed at how far some of these GURUS have taken things and it is very sad.
So with all that being said I want to give an update on where we are because it seems a lot of people are throwing different ideas and thoughts around. For many years now there have been times at which this was supposed to happen. But of course each time being a letdown.
We watched UN meetings and agreements being made and bank rumors out the A$. Many times we would get information from one person that knew a guy somewhere but could never get confirmation, but we were excited.
So we kept going. Now I know most of you are wondering where I am going with this....Well as of Right now, we are closer to being done than we have ever been.
We have seen more things happen in the past 2 weeks than we have in 7 years.
We have seen agreements signed, parliament members actually showing up to vote. Iraq getting out of chapter 7, the list goes on. We also have "Intel" being confirmed (which is huge). We have banks really ready, we have the UST making adjustments, and we have Basel III getting implemented.
We have gold moving all over the world (Do you really think it dropped that much because of the market). We have Iraq having to pay bills right now and wanting to buy weapons, which we saw today.
We also have Chapter 7, and for them to get out. They had to agree to RV. So all of this tells me we are within a week, maybe 2 of being done (intel says the same).
Now in regards to the rate. It will not LOP, it will not start low and come up, it will not come out at a teaser rate then RV again. It will also not be a free float. You have to realize this country has to be stable.
They do not have a choice. If you just look at contracts themselves, the rates have to be fixed. They also have to be high enough that big investors like hedge and mutual funds can not manipulate it.
So a rate of 3.44 makes the most sense. I have always thought above 2.75 however with the amount of resources they have and the money moving around the world right now. 3.44-3.86 makes sense.
Now I will also tell you the banks are ready for us. Some more than others but they are ready. So you should all be excited.
I also have some advice for you. In a previous life I was a Financial Advisor and how you handle your money after this will be the most important and difficult thing to do. So what I would like you to do is meet with different advisors, preferably with a CFP.
Don’t take your friends advice on who is good, meet with several and even if someone has been in the business for years does not mean they are good. It just means they can network well and have some rich golfing buddies. A CFP tells you they have studied to get to where they are.
You also want to meet with an estate attorney to set up trusts, many of you will have estate tax problems and you do not want issues for your kids. Meet with a CPA and Tax Attorney. They are different so you will probably need both. And lastly an Insurance advisor, they will all go hand in hand.
I want to finish with this. I have spent almost 7 years talking to many of you. It has been an amazing and difficult ride. I have seen people come and go. I have seen people fight on boards and Skype rooms.
I have seen people go through horrible real life issues and keep moving forward. But I want to encourage all of you to share and become better people because of this blessing.
Money amplifies what type of person you are. Hopefully it will make all of you better people and allow you to make everyone around you better. Thank you and good luck to all of you.