hootie123: BWM other than it never happening... What is your Worst case scenario?
BWM: oh you had to go there... sneaky sneaky question... BONUS POINTS....
BWM: I said my worst case scenario back in november... and we haven't reached it yet... if it does... we'll have a serious conversation in which i'll prolly step away for some time... I hope we don't come to that... the serious conversation part... I hope I'm gone real soon rofl
HeIsFaithful: For someone who is new, what would be the "bare bones" plan they should be working on to be prepared for this event?
BWM: get numbers together for ppl you need to call immediately upon learning of an RV... prioritize... make sure you take care of your family and yourselves FIRST (I know that selfish but the time has come to reward your patience and perseverance) what do you NEED? tax professionals (have other options in case you don't like the ones at the bank) what is your short term, mid term and long term plans... be prepared to sit down with a wealth manager and EXPLAIN IN DETAIL WHAT YOU HOPE TO ACCOMPLISH WITH THIS MONEY...
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dinarrocks: When you say "they"... I think many of us are frustrated because no one seems to know who "they" are? Any speculation on WHO actually controls this?
BWM: I'm not a conspiracy theorist by any means... and I've heard all the stories about them and us and those ppl... If I believe that it's out of Iraq's hands (which I do) and I look at where the problems seem to be coming from then I have to point my finger there first no matter how absurd some of it sounds...
coorslite21: just an FYI.....In a related development called House Speaker Osama Nujaifi to include the vote on the federal budget on the agenda for the meeting next Tuesday.
BWM: yes... we discussed it was moved AGAIN to tuesday...
rustyc: Even if the dinar does not go, is there still a chance the Vnd will?
BWM: at some point you'd think that China HAS to push that through... the question always remains of "does Vietnam NEED the backing of their dinar reserves in order to back up the currency or does China have to plans to back it themselves?
BWM: in my "worst case" scenario I've eluded to... the VND would have to go before that occurred...
sambeaux: BWM What would you like to see happen in order to get to the finish line in this investment?
BWM: I don't think there is a "trigger" you'll see in any news per se as much as I'm just looking for it to happen... I still believe you'll see/hear all the other things resolved but the timing IMO has to be simultaneous or they don't have any excuses...
dinarrocks: Do you compare notes with other "gurus" OR are you the LONE RANGER?... just curious???
BWM: I don't consider myself a guru to start... I'm just someone who's looking for the best answers I can get for myself, family and friends (of which I consider many ppl I've met on sites as those) as to where things are... I have spoken in the past to many self proclaimed gurus... the ones that haven't "misspoken" and I've "mentioned" it to them still talk to me sometimes... but I don't look for any ring or circle of information as a network... I talk to ppl I trust and I form my own opinions... I don't need someone to tell me it's happening on this day or that day... those are usually the dates/times I throw out just because...
BWM: I had a couple of questions that disappeared.. if you are still here and haven't seen your question, please reask... thanks
dinarrocks: When you got into this (however long ago), did YOU think it would take this long?
BWM: oh HECK NO...
redsnowbird: Do you have any "markers" of things that need to happen or should happen before you feel the RV can be implemented?
BWM: I don't think we're waiting to see anything but the actual event... if we see other things as "markers" or such... then we'll certainly be asking "where's the rv" and there'll be no more excuses
WANGO1: Do you see all the articles in mainstream media has an indicator, of pending RV or changes in the world Banking rules?
BWM: I think you definitely see a number of banking issues coming up... as far as resolution... NO I don't see it.. supposedly all these fines are being levied and penalties assessed but where is the money... why is dimon still cohorting with all the ppl after ripping off millions? too many questions for me to believe real change has happened yet...
wisewarrior: what 's up with the libyan dinar?
BWM: no resolutions yet...
dinarrocks: Why do you suppose the dinar is not talked about more on mainstream media?... Are they really that un-informed?
BWM: having worked in major media outlets I can tell you... what you hear is what they want... remember we weren't "supposed" to be involved... and what better way to keep us "ignorant" than to continue spewing the same ol scam and run rhetoric
WM: ok... well I'm out of questions... so last call before we go back to regular chat
dinarrocks: Do you foresee a big issue with tellers who were told it was a scam being upset afterwards?
BWM: the big question will be which banks you're sent to for exchange and how you are handled when you walk in off the street... I would expect an amount of turnover in many sectors once this occurs...
dietcokeandice: What is your opinion about Russia and China reportly buying gold
WM: did you notice that after Iraq purchased MORE gold supposedly they actually REDUCED their reserves in December? strange... and I think you'll see more and more countries buying up gold strictly because of the value and backing currency long term
highhopes: BWM What question would you ask yourself?
BWM: Why am I still here?
TRADEVIPER: Some banks in the US sold dinar, if it was illegal or a scam, would you not think the Goverment would stop it,
BWM: absolutely... the whole "scam" theory is ridiculous... you can trade it in for basically a "restocking" fee just like you would anything else you ordered
cib: BWM is it our country's perrils delaying this? Iyo
BWM: I don't think our leadership in our country worries too much about our perils honestly.... when you can just print more money and pay your family to lobby YOU for more money... that's a good deal
speedracer: BWM Do you think it could be as simple as our govt wants a certain amount of dinar sold for tax purposes?
BWM: not really because I see more money being made off the spread than anything else... I haven't really spoken of that... but that has been a major discussion in the background...
cougar428: whats to stop them from never having the rv an leaving things the way they are now or adopting another currency as thier legal tender
BWM: they would have to completely start over... and again they are still being held under Chapter 7 (again, trust issues) and they are desperate... it's the "other guys" bullying their way to delays IMO
dietcokeandice: With Russia and China buying gold is the USA buying it also and if not will that make them a super power
BWM: where are they "buying" it from? the U.S. is the leading hoarder of gold supplies... that will probably not change perception-wise for the world
puppygirl: What important question have we not asked tonight?
BWM: Why am I still here? Lol
speedracer: BWM follow-up: or a certain number of dinar holders....one million spenders wont save our economy......ten million people might......
BWM: think of it this way... if I tax your 4 dollars (imaginary rate) how much do I get for the government? let's go with the worse case scenario of 39% and that's 1.56 they taxe you technically for 1 dinar... BUT what if the government spread was 8 dollars (ex. the U.S. rate was 12 per dinar) so now they get 8 dollars for every dinar you turn in... how important are taxes now?
cib: BWM do you think u.s. citizens should prepare for . .. . financial meltdown/rioting?
BWM: that's a location thing IMO... I mean if you live in a metro area the possibilites could be more significant... in rural areas where I live... we don't have much to start with and YOU AIN'T taking it!
redsnowbird: What do you think the spread will be? and will the CE have a spread?
BWM: the CE is a different animal... remember the "theory" is that a country is buying your dinar for the purpose of exchanging for oil... so they are not getting a spread per se so much as they are using it for another purpose... hope that helps
dietcokeandice: How will we know if the VND revalues without the dinar
BWM: it will show up at the bank.... since it was already traded previously it is not under the circumstances that surround the dinar having to be reintroduced since it's last international trading (as a different currency)
4given: BWM OK so why are you still here...
BWM: because you asked... thanks for that
dinarrocks: SO, do you believe that everything has been done and we are just waiting for the "right moment" for someone to push the button?
BWM: I keep getting told that... so for a little while longer I'll continue with that thought process
cib: BWM Regarding price of oil - I thought I read (a while back), that we, the U.S. were going to get a lower price per barrel once dinar revalued? any comment?
BWM: the general thought is that "dinar-traded" oil will be about 30-36 dollars per barrel... when you look at the fact it costs Iraq about 2 dollars to produce it and the final sale price... most everyone comes out ahead...
dinarrocks: I am sure I speak for our group when I say "Thank you for taking the time to take our questions. We REALLY APPRECIATE your taking the time share with us."
BWM: you are welcome...
codreamer59: BWM Any thoughts on how some states, who were supposedly financially in the negative, all of a sudden have surpluses?
WM: if you look at how they accomplished that... for instance California... they "magically" have more money BUT that is based on the fact that they are counting on a budget surplus for their current budget... that will only occur IF they maintain their budget which as we know most states blow...
cougar428: but would we get an e-mail if the vnd went without the dinar
BWM: you know that's a good question...I'll ask KCMana real quick if I can get an answer
BWM: per KCMana... she believes so.. is double checking to insure that answer...
rustyc: While we wait I have heard rates and I know you dont do rates from .25 to 50.00 also that the dinar would go on par with the kuwait dinar what are your thoughts...?
BWM: as far as a street rate goes I have always been under the idea we'd see a rate between 3.22 and 4 something... the question still gets back to is will the kuwaiti dinar revalue also? how much? I really don't care.. just getter done
cib: BWM - Would we be in danger of a meltdown or major unsettleness if our country goes into a hyper inflation? (is that the correct term)?
BWM: every major economy has buffers or protection against such measures and I'm sure if things went way south (how much could the world afford the number 1 buying country in the world to not purchase) that you'd see some pretty drastic measures in place
sambeaux: bmw what about the pp and world settlements?
BWM: you know.. I don't pretend to know a great deal other than what I've read... I have a couple of contacts I touch base to just ask "you got anything?" to.... so rather than tell you something I really don't feel comfortable with... I'm just gonna say "hey if they giving out money for a good cause, tell me where to get in line"
dietcokeandice: We hear alot about the value of China currency and you said they want the VND to revalue will they have anything to do with each other
BWM: lots of speculation about china currency going up in value and the VND can't be higher than theirs... well if china is all about import/export then why woulndn't they want their value lower especially if they already have negotiated deals with Vietnam for labor and other items... I think china has approached the VND very similar to how the U.S. has approached the dinar... they will make some serious bank off it
cod BWM: kinda like here... I don't really worry about the numbers... I know the idea of the groups was to make sure the smallest dinar holder could get the most value possible out of their currency.... with that said, the generals/studley group is supposed to be the largest group for such a transaction
dinarrocks: There is all the talk of extra security, taking a cab, not using DL, etc. Do you subscribe to all of that?
BWM: again, I think it's a location thing... if i'm in downtown somewhere with a real population yeah, I'd take a few more measures... when you live somewhere you leave the keys in the car and the window down... not so much
cib: BWM - if price of oil drops, as stated above, do you think we'll benefit at the pumps?
BWM: that's a greed question... in theory yes, reality could be a completely different thing... remember oil is manipulated by OPEC and this could affect things completely differently... consider how they feel about all this "cheap" oil...
cib: BWM - are you "self taught" re: this dinar investment, our economic conditions and other information you've help educate us on, or . . . are you in the loop? a loop, any 'loop'?
BWM: I would definitely say self taught... can't imagine anyone else having enough patience to teach me lol I think that everyone though if they really looked around would find they have contacts they could reach out to if they were diligent and willing
speedracer: BWM One last question, I have noticed all dinar coming from the online dealers is uncirculated....do you think the UST is selling to them?
BWM: not that the UST is selling them as much as tracking or regulating the numbers... as I mentioned earlier they know what is in "circulation" and by that I mean in country
dinarrocks: If our "group" is as large as it appears to be, would or does that give us any more advantage, say, as a whale to get CE sooner than others?
BWM: the difference in a group vs a whale is simple... where it might take us thousand holders to reach the numbers of dinar a "whale" holds who would they rather deal with transaction-wise... I would suspect you'd rather deal with 1 person holding a great deal than a thousand ppl holding the same amount
4given: BWM Time is something that once spent is gone forever...thank you for sharing yours
cib: Bwm :clap: thank you Bubba !!
BWM: well guys... we're almost out of time... and I'm outta questions so back to regular chat... THANKS FOR YOUR PATIENCE AND ATTENDANCE
BWM: THANKS AGAIN EVERYONE FOR YOUR TIME...reamer59: Do we have any idea how large our 'group' is for the CE?
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