(highhopes) DebTarHeelGirl: WHEN WE TALK TO OUR ATTORNEY OUR TAX ATTORNEY, FINANCIAL PLANNER, BANKER, ALL LEGAL ENTITIES, WE ARE TO USE THE WORD: CURRENCY EXCHANGE AND NOT CASH OUT. THE WORD EXCHANGE MEANS NO TAX IN THE TAX WORLD IS WHAT I WAS ENCOURAGED TO SAY BY MY LEGAL ENTITIES.
DebTHG Cont: ALSO REMEMBER THIS –THE RATES YOU ARE HEARING AND SEEING POSTED FROM ANY GURU IS THE RATES THEY PROJECT WILL BE THE BANK RATE. REMEMBER WHEN THE WELLS FARGO FREE PRIVATE CURRENCY EXCHANGE BEGINS, THE RATE WILL BE SUBSTANTIALLY HIGHER SO DO NOT GO BY WHAT THE SITE'S ARE SAYING THE BANK RATE IS –
[windhawk] I have a question. Why would WF give a much bigger rate then the street rate? If they did that they would be taking quite a loss on the Dinar. So can some one give proof that they will do that...
[Jester] windhawk i can answer that... they will give away part of their spread to get control of the dinar for the people that they have arrangements with to take it from them on the other end... and to have the large amount of deposits in their bank...
[WCW] windhawk because it is tied to oil credits
[Drod] Jester Also , they will recoup some of that money from investment services provided to customers
Read More Link on Right
imperium] stating such info that is totally contrary to the IRS tax codes and will cause problems for many. DO NOT take tax advice from a chat room.
[Jester] if you have not read this explanation of what happens to your dinar you should look at it... http://www.dinarrecaps.com/1/post/2013/01/what-happens-when-we-exchange-dinar-thoughts-by-bandit-at-ktfa-forum.html
[highhopes] imperium I certainly hope EVERY Single person does consult a Professional. Its VITAL that we do. Meanwhile just call it a “currency exchange” instead of an investment.
[kenbo] also plan to get a letter from the IRS
windhawk] Jester I have read that and totally dissagree with it. The bank will never seek percentages of the amount you have, Their spread will be hundreds of dollars per transaction. If you convert your money in one transaction it will cost only a few hundred dollars spread
[H2OMAN] highhopes ...I like many would LOVE to beleive that there will be NO taxes on the CE....but I'm sure gonna check with the Gov to find out.
[highhopes] H2OMAN definently
[windhawk] Jester I have read that and totally dissagree with it. The bank will never seek percentages of the amount you have, Their spread will be hundreds of dollars per transaction. If you convert your money in one transaction it will cost only a few hundred dollars spread
[Mitzi] windhawk thank you, I was kinda concerned about that 3% business
[Jester] where do you see a percentage of your spread in that?
[bamanana] I thought banks would charge us to cash in
[windhawk] Mitzi your welcome. just recall how much spread you were charged when you bought your Dinar. It was not a percentage of the amount . it was just flat rate. that is the way it works
[TexasMom] kenbo wouldn't surprise me if IRS reps hanging out at the banks! LOL
[H2OMAN] TexasMom ..I can picture them with a little booth outside the bank and a BIG FBI guy with an uzi protecting them
[Bear'sOpenHeart] kenbo Hope all my eggs have double yolks... rofl
[Jester] there is always an exchange fee like that any time i have ever exchange money... the buy rate vs the sell rate causes the spread....
[windhawk] Jester yes and it is a flat rate
[Jester] i believe the CBI buy right now is 1164 and the sell is 1166
[thudz04] if they try to charge me a percentage rate to cash in with their bank I will try to negotiate with said bank for a lesser/zero fee as they will reap the benefits of having my money deposited in their bank
[H2OMAN]...the HOUSE will get it's take...the US
[Jester] windhawk if you are in the group you may get a better rate... just saying...
[prissynell] just got here and from the conversations it sounds like an Rv will be soon?
[Blessingsabundant] It has been said that a currency exchange is NOT taxable, so we wait to see.
[windhawk] Jester Yes and I agree with you,, but it will be only at most a couple of hundred dollars is all I'm saying.
[citizensoldier] imperium There are none so blind, as those who will not see... IRS is something even a legally blind person WILL see at the Optometrist
Jester] if one bank negotiates with a group of say 100,000 people... to attract them to said bank.... do you think they would be likely to give away part of the spread you know they are getting to attrack said group? ] especially if you are aware that their resell rate is higher for an investor wanting saif asset?
[thudz04] I personally feel debating the tax issue is a waste of time until the RV is a reality. I will pay a good tax attorney to obtain a written ruling from the IRS when the RV actually occurs.
[windhawk] Jester They can give up the whole spread to each of the group, but their spread will be only a few hundred dollars per transaction. So that is how much more you will receive when you do business with that bank.
[TexasMom] IMO plan on the high rate of 39.6% and get legal help when RV
[highhopes] Jester I totally agree with you
[Jester] windhawk well then dont go there if you dont believe it would be in your best interest... what i am trying to say is... the bank FEE has nothing to do with it... if the investor is willing to pay a premium to get a hold of the asset... they will be trying to attract that asset by giving you more... the bank is really not the issue...
windhawk] Jester If I understand you ,, I do agree. If I cash in say at three dollars and an investor thinks it will continue to rise, to say 6 then he might offer me 5 . That may be the case. but I some how think not. If it does happen that way. He will be taking a risk.
kenbo] jester I agree with you based on private discussions i had with group leaders. but those that require proof will not get it until after the mail is sent out
[bamanana] Doesn't really matter til RV
[flashing] As i said this morning everything is great and on track. There is no hold ups. it could happens anytimenow. I expect it after midnight.
[flashing] My timeframe still on track and i am very confident about it. :whoohoo: date anytime now and imo will be over $5. jmo
[flashing] i received information to be alert tonight after midnight. just rumors again rumors
[Shining]we're just waiting for the showing . it's all been said, enjoy your time for now and just let it come, we're there IMO