[BWM] Good Evening All… Just wanted to stop by for a bit… been noticing a lot of confusion on the NDA discussion at banks and wanted to see if we couldn’t resolve a bit of the conflict.
Anyone who has had a job that required signing a contract should understand completely the term “but not limited to”… in other words, all duties and jobs assigned “but not limited to” the description within this contract. It’s the same principal as signing a job contract… when you agree to a job it’s the understanding from the management that you will not discuss your salary arrangements with your colleagues…
The NDA is a simple process to protect the banks arrangement with you and protect YOUR arrangement with the bank… Simply put… (and this is somewhat supposition, so take it as opinion based on discussion with bank personnel) you will sign the agreement that will prohibit you from discussing your rate with anyone outside the contract agreement… This will also prevent the bank from disclosing this information to ppl outside in regards to the amount of money you have exchanged for..
Understand… that while this seems a simple process to not disclose your rate (and I know that immediately everyone wants to say, “Well if we’re all getting the same rate, what does it matter?”) there are other factors in play here such as what perks they offer you. For instance, banks will make out on this regardless… so where would they stand to “lose” anything? Well if they offer the full option of perks to absolutely everyone that comes in the door it would be “bad” business… most of us understand that while a business may offer you something… they may not unless you ask
[Rickylee] What perks?
Read More Link on Right
[BWM] Rickylee – Don’t know if you noticed but there was a pretty good article on recaps about the things banks could offer you… it’s a good starting point
[BWM] Quite simply… ask for a brochure from the wealth manager listing options and start asking from there
[AndieZ] BWM – that was recently?
[BWM] AndieZ yeah… let me see if I can find it
[BWM] OK here it is…
Again… as all information… it’s a starting point. You need to understand that you will customize EVERY situation to YOUR circumstances… there will be no “cookie cutter” solutions.
[BWM] Demographics, location, personal finances, etc. provide too many variables for anyone to think that they can just piggyback a perfect financial scenario
[BWM] Forget the “depends” cliches… honestly, there will be the moments of disbelief and then the “discount double check” as you start making calls and packing out the door to do the necessary steps
[wisewarrior] Any updates on going with one’s “significant other” besides back-to-back appointments and “sneaking” in? You know Chat Wimp needs supervision….
[BWM] wisewarrior – I can’t imagine they will prohibit your partners with you. You may need to schedule two appts if you are both doing things separately. The information will make sense when you make your arrangements…
[wisewarrior] Well Generals and DW said a while back only married couples… so….
[BWM] wisewarrior – You can always claim domestic partnerships…. lol
[jyburt1] BWM So as I understand we cannot tell our family or anyone else how much we get per dinar. We are cashing some out for a friend. Does this mean I cannot tell her how much she gets per dinar?
[BWM] jyburt1 – Um.. Power of Attorney. If you have Power of Attorney and she knew how much dinar she gave you then she could figure the rate… if not, then “Hey surprise!!!”
[jyburt1] What happens if I tell her and she tells the rate I mean what will happen to us?
[AndieZ] jyburt1 – It should be outlined in the NDA you sign
[jyburt1] Do you think any of this will happen at the local branches or we would need to plan a six or ten hour trip to get to the best place for us?
[BWM] jyburt1 – The understanding is that it will be to the most convenient location FOR YOUR CIRCUMSTANCES…
[hardtorecall] BWM I don’t understand how a NDA could possibly be enforced
[BWM] hardtorecall – So I go to the bank and say, “hardtorecall told me I was supposed to get … THIS”…. News travels fast these days… and what reason would you have to tell if you obviously got a better deal?
[jyburt1] I don’t mind the travel and will go wherever we need to go… no problem, and is there a time limit on the NDA
[BWM] jyburt1 – I have no WF close… I understand the thought process
[hardtorecall] What could they do to me if I don’t have any money there? By the way, hold out for $23! lol lol
[BWM] hardtorecall – So what’s worse… not having money at all… or having money you can’t get to
[hardtorecall] BWM I guess they could sue, but why?
[BWM] If you look at the boards there will be some really foolish ppl who will think it’s cute and funny to go start trouble… I don’t think they will understand the gravity of the situation…
[hardtorecall] BWM For security everyone should keep their mouth shut
[BWM] hardtorecall you’d think… but some will learn the hard way I’m sure.
[Rickylee] I think you are the best on the chats and the most stable of all the ones i have listened to. Please do not take anything I say the wrong way!
[BWM] Rickylee – Thanks for the kind words… I have thick skin on my shaved head rofl
[Rickylee] Good! Sometimes I can be rude lol
[BWM] Rickylee I’ve long mastered that… lol
[hardtorecall] I just wish someone had an inside track on “when”!
[BWM] hardtorecall – I have that track… but the car keeps running out of gas
[cib] If the rate comes in at $1 is it best to sell some or all initially? In your humble opinion? Or do we not even consider that scenario?
[BWM] cib I think you need to do what suits your plan the best…
[jyburt1] I want to be sure I am not one of those they make an example of. I told my buddy I cannot tell her how much she gets from her dinar but I will get her an account and tell her how much is in there. I’m afraid she will tell the rate.
[BWM] jyburt1 – Does she know how much dinar she started with? Or are you gifting that?
[jyburt1] She knows how much she has started with and I owe her a few hundred bucks and I will add some to it and will not tell her how much I added
[BWM] jyburt1 – There you go… if the starting point can’t be calculated then the end will have no concerns
[BWM] All the discussions lately seem to have been that someone in the groups was trying to take your dinar… Well, as clarified the other night by DW and G64, you are going to a banking institution to exchange your dinar in YOUR hands… no one is asking you to send it anywhere or show up in the alley to exchange
[cib] Are you comfortable with the movement of ‘things’ based on real news out there?
[BWM] cib – I do have some info that is not on the boards (and no I won’t discuss it) but you’ll see soon where we are and I think it will be most obvious unless someone has their tinfoil on too tight
[wisewarrior] BRB rearranging my tinfoil dress
[BWM] wisewarrior – That’s an accident waiting to happen lol
[IQDguy] So BWM are you saying where we are is IN A GOOD WAY?
[BWM] IQDguy – At this time yes…
[Asells] BWM, so…. soooooooooo far we aren’t having to HAVE “that talk”
[BWM] Asells – Well I could with you… baaaaad snail lol
[HeIsFaithful] BWM, if you are encouraged…. well THAT is HUGE!
[BWM] HeIsFaithful – As always… we just keep paying attention because we can’t afford anything else
[cib] Any info on the release of our new US bills?
[BWM] cib – Negative…
[wisewarrior] Articles said October, I think
[Asells] wisewarrior – That’s what I read with Lew’s new signature that new bills would be coming up in the Fall. Not sure when but it takes like 18 weeks to get the new plates for his signatures to go on them. Don’t know what type of bills though… ‘cause if you look at Fed Reserve notes, it has the signature of the 2009 Chairman on it
[BWM] Asells – I was assuming we were discussing UST notes
[Asells] BWM – Yeah probably ….
[jyburt1] Hey, anyone here want my free toaster? I really don’t want to leave it at the bank
[BWM] jyburt1 – See I’m getting a free waverunner… hence the NDA
[jyburt1] Wow that’s better than the toaster
[BWM] jyburt1 – Dang Skippy, I’m signing the NDA
[cib] Bubba, any news regarding Iraq’s lower denoms being released ?
[BWM] cib – I’ll be honest… and this will sound harsh… I could care less what goes on in Iraq
[cib] BWM I understand your view on that. Just asking because it seemed important, I thought
[BWM] jyburt1, for you and everyone’s sake… if there is anything you feel you NEED to copy from the forums or such… please make plans to get that done… that will not remain up forever post rv
[cib] How soon after rv is 3s closing the site?
[AndieZ] cib – As the need may arise …. it won’t close right away
[BWM] cib – Can’t say for certain… but because of the sensitive nature of information being released upon this happening there may be some discrepancies in the schedule
[AndieZ] cib – Just to clarify – I was referring to 3sintel.org….
[hardtorecall] Why close?
[BWM] hardtorecall – Like we’ve said all along, our hope was to educate you where to begin and get on with your life.
[hardtorecall] I obviously don’t have a life! rofl
[BWM] hardtorecall – The hope is that you can afford to
[hardtorecall] Good point!
[BWM] Well I’m about to have to run get some work done before the day ends… any last statements? Depending on my schedule we may plan one more classroom… depends on how long I cling to internet. It’ll be a catch-all kinda discussion… Ya’ll have a great night… will try to give some warning before next visit