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Newbie here with a few questions
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LookingAtTheHeavens
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therealbutterfly
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Kevind53
Labrann
Siaya
Ponee
Midnight Flyer
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Newbie here with a few questions
Hello All,
I’ve been following all the posts from different forums via Dinar Recaps, however, I wish to be more involved in discussions, so I’ve decided to join the OOM forum. Glad to be here!
I’ve only been investing in Dinar since late last summer, so I’m a newbie as compared to many of you. I do have some questions.
One thing I’ve been reading in nearly all of in the forums are members saying to ignore the “Naysayers” and telling people to pay no attention to the “smoke” and “misinformation”. It’s even been suggested that smoke and misinformation is intentionally put out there to confuse or upset us dinarians. I guess what I’m asking is why do so many people seem to not want the RV to happen or want the dinar to be a scam? At my place of employment, there is a group of us dinarians who usually talk amongst ourselves about dinar related topics, then theres the naysayers who basically laugh at us and spend all their energy trying to prove it’s a scam. I don’t understand why there is such a sharp divide in dinar speculation.
I’m a member of many other forums for other things that I’m involved with in my life, however, I’ve never seen so many religious references as I have seen posted on dinar forums. I am a Christian, I pray daily and I realize that God is all knowing. And before you attack me, please know that I am NOT offended with the religious overtones, but I am curious as to why the overabundance. I believe that the RV is in Gods hands, but it is no more in Gods hands than anything else in our lives are in Gods hands. It seems like alot of people think God is sitting there with a button that says RV on it and is just waiting to push it. As I said, I read alot of other non dinar related forums, and there is absolutely no religious references; why so much with the Dinar?
Here’s a question that nobody seems to be able to answer. What is going on with the FDIC? I understand that our money will not be insured after December 31, 2012. So is the FDIC non existent after the end of this year? Most of my friends and acquaintances in my little dinar group have between 8 to 12 million dinar. Lets say it RV’s at $3.00 and after taxes you have, say, 20 million USD to put in the bank. I understand the FDIC only insures up to $250,000. How about your other $19,750,000? That means I will have to split is up into 80 separate non interest bearing accounts with a balance of $250,000 each in order for it to be insured. And after all of that, the insurance stops in December? Obviously that is not realistic. Again, this may be an elementary question, and I am still learning here, but nobody seems to have an answer. I have even read in the forums that people are planning to insure with Lloyds of London.
Regarding Banks, I went to my local BOA branch to open an account to house money post RV. Please note, I live near a very large metropolis area. People at BOA didn’t know anything about the dinar, in fact they haven't even heard of it. I’m ok with that, as the dinar is not yet a tradable currency so I understand their ignorance of the dinar. What bothers me is that they have never had anybody come in wanting to exchange foreign currency and they have no knowledge of what a de la rue machine is even. They said after it RV’s, they still don’t want anything to do with it. I’ve been to numerous banks and frankly I’m tired of being looked at like I’m an idiot. During the process of opening up a non interest bearing account, the guy thought I was even more of a nutcase when he found out that I could potentially have 20 or 30 million in this account.
Those are some of my burning questions. Again, I’m happy to be a part of this forum. go RV!
Midnight
I’ve been following all the posts from different forums via Dinar Recaps, however, I wish to be more involved in discussions, so I’ve decided to join the OOM forum. Glad to be here!
I’ve only been investing in Dinar since late last summer, so I’m a newbie as compared to many of you. I do have some questions.
One thing I’ve been reading in nearly all of in the forums are members saying to ignore the “Naysayers” and telling people to pay no attention to the “smoke” and “misinformation”. It’s even been suggested that smoke and misinformation is intentionally put out there to confuse or upset us dinarians. I guess what I’m asking is why do so many people seem to not want the RV to happen or want the dinar to be a scam? At my place of employment, there is a group of us dinarians who usually talk amongst ourselves about dinar related topics, then theres the naysayers who basically laugh at us and spend all their energy trying to prove it’s a scam. I don’t understand why there is such a sharp divide in dinar speculation.
I’m a member of many other forums for other things that I’m involved with in my life, however, I’ve never seen so many religious references as I have seen posted on dinar forums. I am a Christian, I pray daily and I realize that God is all knowing. And before you attack me, please know that I am NOT offended with the religious overtones, but I am curious as to why the overabundance. I believe that the RV is in Gods hands, but it is no more in Gods hands than anything else in our lives are in Gods hands. It seems like alot of people think God is sitting there with a button that says RV on it and is just waiting to push it. As I said, I read alot of other non dinar related forums, and there is absolutely no religious references; why so much with the Dinar?
Here’s a question that nobody seems to be able to answer. What is going on with the FDIC? I understand that our money will not be insured after December 31, 2012. So is the FDIC non existent after the end of this year? Most of my friends and acquaintances in my little dinar group have between 8 to 12 million dinar. Lets say it RV’s at $3.00 and after taxes you have, say, 20 million USD to put in the bank. I understand the FDIC only insures up to $250,000. How about your other $19,750,000? That means I will have to split is up into 80 separate non interest bearing accounts with a balance of $250,000 each in order for it to be insured. And after all of that, the insurance stops in December? Obviously that is not realistic. Again, this may be an elementary question, and I am still learning here, but nobody seems to have an answer. I have even read in the forums that people are planning to insure with Lloyds of London.
Regarding Banks, I went to my local BOA branch to open an account to house money post RV. Please note, I live near a very large metropolis area. People at BOA didn’t know anything about the dinar, in fact they haven't even heard of it. I’m ok with that, as the dinar is not yet a tradable currency so I understand their ignorance of the dinar. What bothers me is that they have never had anybody come in wanting to exchange foreign currency and they have no knowledge of what a de la rue machine is even. They said after it RV’s, they still don’t want anything to do with it. I’ve been to numerous banks and frankly I’m tired of being looked at like I’m an idiot. During the process of opening up a non interest bearing account, the guy thought I was even more of a nutcase when he found out that I could potentially have 20 or 30 million in this account.
Those are some of my burning questions. Again, I’m happy to be a part of this forum. go RV!
Midnight
Midnight Flyer- New Member
- Posts : 8
Join date : 2012-02-16
Re: Newbie here with a few questions
You may also want to pose your question on the sister site, where there is a lot of hard core dinar hounds, who specialize in more factual and less emotional aspects of the dinar/rv
http://www.changesxchange.com/
http://www.changesxchange.com/
Last edited by ponee on Thu Feb 16, 2012 1:47 pm; edited 1 time in total
Ponee- Admin
- Posts : 38267
Join date : 2011-08-09
Re: Newbie here with a few questions
Midnight Flyer, nice having you aboard and sharing your heart. To truly answer your post in detail, would take a book to write. I can only encourage you in this one area. IF you bought dinar, be blessed with it, pray for the best and wait patiently that it just MIGHT ONE DAY turn out to be what you believed for. Some here, including myself have years in this. I am going into my 8th year. I have just about read all, heard all, seen all and still to this day, NO RV. Best thing to do, keep to yourself what you have, hope and pray for the best. Though I love hearing what people share in faith, many times it is more presumption and speculation than true faith. In regards to the FDIC, I am not a banker or economist but what I understand, and I may be wrong, not sure, is that come Dec.2012, the $250,000 insurance goes back down to the original $125,000. In regards to those you work with, let them laugh all they want. One day, they might be the ones weeping over your insights. In regards to the banks, bank stories have been around for FOUR years now and NEVER has one been right or truthful. I have banked at Wells Fargo for over 20 years, KNOW the Business Manager of this bank, and even enough to have lunch with him. To THIS day, he has NEVER heard of DINAR! So much for us being told for years about banks, Pres. VP's, meetings, rates, cash outs etc. Best you can do, is Praise the Lord daily for your life, give thanks to Jesus for your salvation if you be born again and do NOT worry about the dinar NOR put your heart and soul into it. I pray we ALL see our blessing from this one day, but already 2012 is looking like every other year I have been through. PASSING BY with no change. Be blessed
*****************
Jesus IS Lord! Jesus said, Marvel not that I said you MUST be Born Again--Jn.3;3-8
Re: Newbie here with a few questions
Siaya wrote:Midnight Flyer, nice having you aboard and sharing your heart. To truly answer your post in detail, would take a book to write. I can only encourage you in this one area. IF you bought dinar, be blessed with it, pray for the best and wait patiently that it just MIGHT ONE DAY turn out to be what you believed for. Some here, including myself have years in this. I am going into my 8th year. I have just about read all, heard all, seen all and still to this day, NO RV. Best thing to do, keep to yourself what you have, hope and pray for the best. Though I love hearing what people share in faith, many times it is more presumption and speculation than true faith. In regards to the FDIC, I am not a banker or economist but what I understand, and I may be wrong, not sure, is that come Dec.2012, the $250,000 insurance goes back down to the original $125,000. In regards to those you work with, let them laugh all they want. One day, they might be the ones weeping over your insights. In regards to the banks, bank stories have been around for FOUR years now and NEVER has one been right or truthful. I have banked at Wells Fargo for over 20 years, KNOW the Business Manager of this bank, and even enough to have lunch with him. To THIS day, he has NEVER heard of DINAR! So much for us being told for years about banks, Pres. VP's, meetings, rates, cash outs etc. Best you can do, is Praise the Lord daily for your life, give thanks to Jesus for your salvation if you be born again and do NOT worry about the dinar NOR put your heart and soul into it. I pray we ALL see our blessing from this one day, but already 2012 is looking like every other year I have been through. PASSING BY with no change. Be blessed
Most sensible post I have seen on this forum for some time! Very well said.
Re: Newbie here with a few questions
Siaya,
Thank you for the response.
I guess I'm looking to read less emotional/more informativef posts, as someone above stated. Case in point, more than half of the posts on this particular thread are completely off topic and have nothing to do with dinar.
It would appear that after 8 years of being involved with the dinar, you've seen it all. In my short time as a dinarian, it amazes me how somebody will put out a blanket statement like "you will wake up in the morning to an RV", then the morning comes with no RV, then everyone gets discouraged. It seems to be a cycle because later in the day, someone will say "well they needed to have a few more meetings, and thats happened, so again, we will have an RV by morning". Then the morning comes with no RV, and the cycle continues. LOL Again, I have only been following this roller coaster for a short time. I can only imagine how you must feel having been reading this for 8 years.
Thank you for the response.
I guess I'm looking to read less emotional/more informativef posts, as someone above stated. Case in point, more than half of the posts on this particular thread are completely off topic and have nothing to do with dinar.
It would appear that after 8 years of being involved with the dinar, you've seen it all. In my short time as a dinarian, it amazes me how somebody will put out a blanket statement like "you will wake up in the morning to an RV", then the morning comes with no RV, then everyone gets discouraged. It seems to be a cycle because later in the day, someone will say "well they needed to have a few more meetings, and thats happened, so again, we will have an RV by morning". Then the morning comes with no RV, and the cycle continues. LOL Again, I have only been following this roller coaster for a short time. I can only imagine how you must feel having been reading this for 8 years.
Last edited by Midnight Flyer on Thu Feb 16, 2012 4:20 pm; edited 1 time in total (Reason for editing : spelling)
Midnight Flyer- New Member
- Posts : 8
Join date : 2012-02-16
Re: Newbie here with a few questions
Midnight Flyer, be encouraged, be blessed and stay level headed with COMMON SENSE and YOU will do well. I have read about MEETINGS for so many years, I finally concluded they set meetings just TO MEET to have another meeting :cheers: So just be encouraged this day and do NOT let the dinar RULE your life and better yet RUIN your life. IF it happens, so be it, but do not get caught up in the daily hype or words that SOMEONE KNOWS exactly what is going on. As they say we are ON course and ALL is set to go, I can only say, have heard it for YEARS. If some of these giving us such so called intel as reality, if THEY were in Mission Control, the Space Shuttle would STILL be on the launch pad, the Astronauts growing old, yet hearing WE are ON COURSE, All systems go. !! Smile Have a good day and know we only have 318 days until 2013
*****************
Jesus IS Lord! Jesus said, Marvel not that I said you MUST be Born Again--Jn.3;3-8
Re: Newbie here with a few questions
http://www.changesxchange.com/ Midnight, click on that link and register ... you will fit in perfectly there. Good info, Good people. It is owned by the same person as OOM, just a different flavor.
I also split the off topic conversation off the post for you...
I also split the off topic conversation off the post for you...
Ponee- Admin
- Posts : 38267
Join date : 2011-08-09
Re: Newbie here with a few questions
Regarding the FDIC, Siaya is correct, ton December 31st the temporary insurance provisions will lapse. FDIC insurance will return to 125K for all accounts. The TAG program which provided unlimited insurance to non-interest bearing accounts will also end. Of course this being an election year and all, that could change between now and then.
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
- Posts : 27254
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Re: Newbie here with a few questions
Welcome Midnight. First and foremost, NEVER discuss how much dinar you have. You don't know who might be on here that is just looking for ripe targets to "be friends with". Be more general in relation to what YOU have.
I am not a banker!!! It is my understanding that savings accounts are usually interest bearing and the $250,000 limit for being insured by FDIC is for individual accounts. If you are married, you can have up to $500,000 in your savings account. FDIC will insure money in NON-INTEREST bearing accounts. Checking accounts are usually not interest bearing. And they do not have a limit like interest bearing accounts. I would verify your checking accounts are not interest bearing.
That being said, after the RV, I don't believe anyone is going to have 5, 10, 20, 50 million sitting in a checking account very long. I would suggest you check into other means of keeping your money. On this site, AJ Anderson is perhaps THE MOST knowledgeable person on this matter. I think you can research previous posts and information he has provided us in the past. This is what he does for a living. He is a wealth of knowledge.
After the RV, I believe there will be substantial information provided on this site as to what to do then.
I wish you well. God bless.
I am not a banker!!! It is my understanding that savings accounts are usually interest bearing and the $250,000 limit for being insured by FDIC is for individual accounts. If you are married, you can have up to $500,000 in your savings account. FDIC will insure money in NON-INTEREST bearing accounts. Checking accounts are usually not interest bearing. And they do not have a limit like interest bearing accounts. I would verify your checking accounts are not interest bearing.
That being said, after the RV, I don't believe anyone is going to have 5, 10, 20, 50 million sitting in a checking account very long. I would suggest you check into other means of keeping your money. On this site, AJ Anderson is perhaps THE MOST knowledgeable person on this matter. I think you can research previous posts and information he has provided us in the past. This is what he does for a living. He is a wealth of knowledge.
After the RV, I believe there will be substantial information provided on this site as to what to do then.
I wish you well. God bless.
*****************
Not ANOTHER Day. Not Another Day. I can't take this. I can't take this. NOT ANOTHER DAY!!
Bruno- Elite Member
- Posts : 508
Join date : 2011-07-17
Age : 71
Location : USA
Re: Newbie here with a few questions
A lot of your FDIC questions can be answered here:
http://www.fdic.gov/deposit/deposits/index.html
http://www.fdic.gov/deposit/deposits/index.html
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
- Posts : 27254
Join date : 2011-08-09
Age : 24
Location : Umm right here!
Re: Newbie here with a few questions
Thanks to everyone for all the info!! Bruno, I agree with you...after the RV, we won't have our money just sitting in an non interest acct for very long.
But unfortunately for the time being, I don't have the means nor the knowledge to know what kind of investments that I will want to get into, so I have no choice than to temporarily use a simple non int bearing type acct for the short term. Post RV, I plan on hiring a financial planner to guide me in what to do, but as of now, I do not have the money to pay for any professional advice. Also, I didn't realize it was bad practice to say how much dinar a person owns; I had no idea what that could do. I figured us dinarians are all brought together by a common interest...but the more I think about it, I guess cyber criminals could be lurking on here, too.
I will search AJ Anderson and read some of his stuff...hopefully that will give me some ideas.
Ponee, Thanks for the info on Changesxchange, I'll check it out!!
And one more thing, an acquaintance of mine that is always trying to convince my little dinar circle how much of a scam this is, recently said something that caught my attention. He suggested that the people collecting and posting all the "intel" on these forums actually work for the dinar dealers, and that is why there is never any bad news and that the RV is always happening very soon, and we are on a hour by hour watch, etc.
I personally don't believe that, but it does make sense. I guess my question is, are these intel providers that are on dinar recaps really in the know and have contacts with people in the IMF, CBI and do some of them actually know Shabibi?
Any comments on that would be appreciated!!
Thanks again to everyone for your input...I'm learning a ton...
Midnight
But unfortunately for the time being, I don't have the means nor the knowledge to know what kind of investments that I will want to get into, so I have no choice than to temporarily use a simple non int bearing type acct for the short term. Post RV, I plan on hiring a financial planner to guide me in what to do, but as of now, I do not have the money to pay for any professional advice. Also, I didn't realize it was bad practice to say how much dinar a person owns; I had no idea what that could do. I figured us dinarians are all brought together by a common interest...but the more I think about it, I guess cyber criminals could be lurking on here, too.
I will search AJ Anderson and read some of his stuff...hopefully that will give me some ideas.
Ponee, Thanks for the info on Changesxchange, I'll check it out!!
And one more thing, an acquaintance of mine that is always trying to convince my little dinar circle how much of a scam this is, recently said something that caught my attention. He suggested that the people collecting and posting all the "intel" on these forums actually work for the dinar dealers, and that is why there is never any bad news and that the RV is always happening very soon, and we are on a hour by hour watch, etc.
I personally don't believe that, but it does make sense. I guess my question is, are these intel providers that are on dinar recaps really in the know and have contacts with people in the IMF, CBI and do some of them actually know Shabibi?
Any comments on that would be appreciated!!
Thanks again to everyone for your input...I'm learning a ton...
Midnight
Midnight Flyer- New Member
- Posts : 8
Join date : 2012-02-16
Re: Newbie here with a few questions
Midnight Flyer wrote:
And one more thing, an acquaintance of mine that is always trying to convince my little dinar circle how much of a scam this is, recently said something that caught my attention. He suggested that the people collecting and posting all the "intel" on these forums actually work for the dinar dealers, and that is why there is never any bad news and that the RV is always happening very soon, and we are on a hour by hour watch, etc.
I personally don't believe that, but it does make sense. I guess my question is, are these intel providers that are on dinar recaps really in the know and have contacts with people in the IMF, CBI and do some of them actually know Shabibi?
Any comments on that would be appreciated!!
Thanks again to everyone for your input...I'm learning a ton...
Midnight
I don't know if any of them actually know Shabbi, and there are those who do contend that (some at least) work for the dealers, but from what I have seen, that is basically hog wash. Perhaps there are one or two, but the vast majority are honest folk trying to "read the tea leaves" of this investment. The articles I have seen making, or perhaps implying is a better word, this claim have by in large been opinion pieces and poorly researched. One even showed old Sadam Dinar as "evidence." So I would not sweat that all too much.
The truth is no one knows for sure when this will happen. We can look at evidence and say it looks like it will happen, but until we see the numbers change ... Well like the scrolling banner at the top says, If you don't see it on CBI or Forex, it hasn't happened.
In all of this remember this is a speculative investment, you could make a ton of money, you could make a little, break even or lose it all. There are no guarantees. If you want a guarantee, stick it in the bank and let it grow ... of course at 1/4 of 1% interest, you're not going to keep up with inflation, so in the end you'll still lose.
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
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Join date : 2011-08-09
Age : 24
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Re: Newbie here with a few questions
I can tell you that BOA WILL deal with the dinar once it changes because I am in a group that already worked out a deal with them.
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therealbutterfly- Elite Member
- Posts : 2416
Join date : 2011-08-02
Re: Newbie here with a few questions
therealbutterfly wrote:I can tell you that BOA WILL deal with the dinar once it changes because I am in a group that already worked out a deal with them.
Butterfly, I'm glad to hear that. Unfortunately my local BOA branch I went to thought I was nuts. Maybe I should go to the main BOA in the area and talk to them.
So when you say your group worked out a deal with them, does that mean that BOA will exchange you dinar at a higher rate that what it RV's at? I've read about that in other forums but don't understand what advantage the bank has in doing that.
Thanks butterfly!
Midnight Flyer- New Member
- Posts : 8
Join date : 2012-02-16
Re: Newbie here with a few questions
Midnight Flyer wrote:therealbutterfly wrote:I can tell you that BOA WILL deal with the dinar once it changes because I am in a group that already worked out a deal with them.
Butterfly, I'm glad to hear that. Unfortunately my local BOA branch I went to thought I was nuts. Maybe I should go to the main BOA in the area and talk to them.
So when you say your group worked out a deal with them, does that mean that BOA will exchange you dinar at a higher rate that what it RV's at? I've read about that in other forums but don't understand what advantage the bank has in doing that.
Thanks butterfly!
Anyone claiming that a bank or dealer will pay more than the new rate is on the CBI is lying to you. There is a buy and a sell rate and thats where people are getting confused. lets say the CBI shows its a USD value of $3.00 (sell rate) and a $2.50 (buy rate). Thats what the banks and dealers will go off of, the BUY rate. They may or may not have a spread involved on it and that can be negotiated too. Dont bother talkin to the banks til its over, its pointless. My friend made the deal with the headquarters of BOA. I suggest you wait til its over, then look at ALL the bank deals posted on the forums and use that as your starting point to negotiate on your own or just use one of the many deals made public.
I personally am only exchanging the smallest amt I need at first and the rest will be handled in a different manner. I wont be keeping much if any in any US bank......
therealbutterfly- Elite Member
- Posts : 2416
Join date : 2011-08-02
Re: Newbie here with a few questions
All I know is this...
when our ship comes in....
VERY HIGH on my to - do list...
is one big fat ugly Maine Lobster and ----ENJOY!!!
8) 8) 8)
...and :nono: Abby,
without widgets on the side
when our ship comes in....
VERY HIGH on my to - do list...
is one big fat ugly Maine Lobster and ----ENJOY!!!
8) 8) 8)
...and :nono: Abby,
without widgets on the side
*****************
"Success is not final, failure is not fatal. It's the courage to continue that counts."
Winston Churchill
(1874-1965)
dinarstar- VIP Member
- Posts : 2367
Join date : 2011-10-09
Re: Newbie here with a few questions
therealbutterfly wrote:Midnight Flyer wrote:therealbutterfly wrote:I can tell you that BOA WILL deal with the dinar once it changes because I am in a group that already worked out a deal with them.
Butterfly, I'm glad to hear that. Unfortunately my local BOA branch I went to thought I was nuts. Maybe I should go to the main BOA in the area and talk to them.
So when you say your group worked out a deal with them, does that mean that BOA will exchange you dinar at a higher rate that what it RV's at? I've read about that in other forums but don't understand what advantage the bank has in doing that.
Thanks butterfly!
Anyone claiming that a bank or dealer will pay more than the new rate is on the CBI is lying to you. There is a buy and a sell rate and thats where people are getting confused. lets say the CBI shows its a USD value of $3.00 (sell rate) and a $2.50 (buy rate). Thats what the banks and dealers will go off of, the BUY rate. They may or may not have a spread involved on it and that can be negotiated too. Dont bother talkin to the banks til its over, its pointless. My friend made the deal with the headquarters of BOA. I suggest you wait til its over, then look at ALL the bank deals posted on the forums and use that as your starting point to negotiate on your own or just use one of the many deals made public.
I personally am only exchanging the smallest amt I need at first and the rest will be handled in a different manner. I wont be keeping much if any in any US bank......
So you don't trust U.S. Banks? Why, just curious...
Guest- Guest
Re: Newbie here with a few questions
LOL! Do YOU trust the US banks or the US Govt in general? I wont go into it further since its not a topic for OOM. Maybe its better for OOM2 but I dont go there cuz i am on overload on forums in general. Just say I wont be staying in the US long after this is over (or sooner)
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therealbutterfly- Elite Member
- Posts : 2416
Join date : 2011-08-02
Re: Newbie here with a few questions
therealbutterfly wrote:
Anyone claiming that a bank or dealer will pay more than the new rate is on the CBI is lying to you. There is a buy and a sell rate and thats where people are getting confused. lets say the CBI shows its a USD value of $3.00 (sell rate) and a $2.50 (buy rate). Thats what the banks and dealers will go off of, the BUY rate. They may or may not have a spread involved on it and that can be negotiated too. Dont bother talkin to the banks til its over, its pointless. My friend made the deal with the headquarters of BOA. I suggest you wait til its over, then look at ALL the bank deals posted on the forums and use that as your starting point to negotiate on your own or just use one of the many deals made public.
I personally am only exchanging the smallest amt I need at first and the rest will be handled in a different manner. I wont be keeping much if any in any US bank......
So what is the point in getting "deals" set up with banks prior to the RV if the only rate a bank will ever exchange your dinar at will only be the buy rate ($2.50 in your example). If that is the case, then the day of the RV, I'll just hop in the car and stop at the first of the big 4 banks that I find because I'll be getting the same rate as anybody else who supposedly got a "deal". So I guess what I'm asking is what kind of a deal are you getting at the bank? What exactly am I supposed to be negotiating with the banks? If all any bank is willing to exchange my dinar at is the Buy Rate, then it should be pretty simple, and no bank will have any advantage over the next bank, especially since we are using non interest bearing accounts.
Are we negotiating weather or not we get a free toaster when putting 30 million into a local bank?? LOL
Midnight Flyer- New Member
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Join date : 2012-02-16
Re: Newbie here with a few questions
I am looking for more. I am looking for a coffee pot.
PALMER01- VIP Member
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Re: Newbie here with a few questions
Midnight Flyer wrote:therealbutterfly wrote:
Anyone claiming that a bank or dealer will pay more than the new rate is on the CBI is lying to you. There is a buy and a sell rate and thats where people are getting confused. lets say the CBI shows its a USD value of $3.00 (sell rate) and a $2.50 (buy rate). Thats what the banks and dealers will go off of, the BUY rate. They may or may not have a spread involved on it and that can be negotiated too. Dont bother talkin to the banks til its over, its pointless. My friend made the deal with the headquarters of BOA. I suggest you wait til its over, then look at ALL the bank deals posted on the forums and use that as your starting point to negotiate on your own or just use one of the many deals made public.
I personally am only exchanging the smallest amt I need at first and the rest will be handled in a different manner. I wont be keeping much if any in any US bank......
So what is the point in getting "deals" set up with banks prior to the RV if the only rate a bank will ever exchange your dinar at will only be the buy rate ($2.50 in your example). If that is the case, then the day of the RV, I'll just hop in the car and stop at the first of the big 4 banks that I find because I'll be getting the same rate as anybody else who supposedly got a "deal". So I guess what I'm asking is what kind of a deal are you getting at the bank? What exactly am I supposed to be negotiating with the banks? If all any bank is willing to exchange my dinar at is the Buy Rate, then it should be pretty simple, and no bank will have any advantage over the next bank, especially since we are using non interest bearing accounts.
Are we negotiating weather or not we get a free toaster when putting 30 million into a local bank?? LOL
You missed what I said after the buy rate. the SPREAD. I am not at liberty to say what our deal is until its over and still not sure if that deal will be made public or not. Banks use the BUY rate as the base and then have a spread on it. So you will negotiate that, and anything else you want from the bank (rates on deposits, cds, investments etc). Now keep in mind, some banks WONT want that much money in their bank. So you need to do due diligence when its over and see what is best. Personally, if I was keeping my money here in the US, I would spread it out in diff banks. But thats me.
therealbutterfly- Elite Member
- Posts : 2416
Join date : 2011-08-02
Re: Newbie here with a few questions
Midnight Flyer, Just remember one thing about the info put out by those certain people......they are NEVER RIGHT. They have said the same thing every week for the last year straight. Over and over again and people get upset when it doesn't happen and then they get bashed for not believing them anymore by most people here. If it happens...it will happen. Just don't believe them when they say 100% by friday...oops, well maybe next monday..uh, tuesday? There's a computer glitch or a three letter agency is holding it up. But, my info is right on so listen to me and get your hopes up. You'll learn.
Blexum- Elite Member
- Posts : 608
Join date : 2011-06-19
Re: Newbie here with a few questions
therealbutterfly wrote:LOL! Do YOU trust the US banks or the US Govt in general? I wont go into it further since its not a topic for OOM. Maybe its better for OOM2 but I dont go there cuz i am on overload on forums in general. Just say I wont be staying in the US long after this is over (or sooner)
Our government NEVER LIES and the people that own the banks are HONEST
Guest- Guest
Re: Newbie here with a few questions
punisher wrote:
Our government NEVER LIES and the people that own the banks are HONEST
LookingAtTheHeavens- Elite Member
- Posts : 267
Join date : 2011-12-15
Re: Newbie here with a few questions
Our government and banks never lie.....and it will come in really high within 24 hours...or monday..or next week sometime...that's 100% that never lie.
Blexum- Elite Member
- Posts : 608
Join date : 2011-06-19
Re: Newbie here with a few questions
BofA huh...
excellent they hold the note to my mortgage. This will make things so much easier for me then.
Thanks TRB for the advise. You are awesome and I really appreciate your no bs attitude. I am a fan!
excellent they hold the note to my mortgage. This will make things so much easier for me then.
Thanks TRB for the advise. You are awesome and I really appreciate your no bs attitude. I am a fan!
*****************
Out Of Mind
www.oom2.com
Purpleskyz- Admin
- Posts : 5765
Join date : 2011-08-16
Location : Woodstock Nation
Re: Newbie here with a few questions
Midnight Flyer -
I'm a Newbie too so I hear ya... I opened a BOA acct. today and I had to explain the unlimited insurance on non-interest bearing accts. to them! I didn't bother going into specifics - just asked general questions about their handling of foreign currency and they told me none of the BOA branches verify foreign currency on-site, it all has to be sent off - which all those in the know say is a big no-no... not to let our dinar out of our sight. So what to do?
Also, back in December (12/24/11) there was an excellent post by ECOE (posted at OOMF - but I read it on Dinarrecaps) on dealing with a Banker and explaining spread fees, etc. Sorry I don't have the link but you should be able to find it in the archives by the date and author. I found it very helpful and informative.
Hope that helps!
I'm a Newbie too so I hear ya... I opened a BOA acct. today and I had to explain the unlimited insurance on non-interest bearing accts. to them! I didn't bother going into specifics - just asked general questions about their handling of foreign currency and they told me none of the BOA branches verify foreign currency on-site, it all has to be sent off - which all those in the know say is a big no-no... not to let our dinar out of our sight. So what to do?
Also, back in December (12/24/11) there was an excellent post by ECOE (posted at OOMF - but I read it on Dinarrecaps) on dealing with a Banker and explaining spread fees, etc. Sorry I don't have the link but you should be able to find it in the archives by the date and author. I found it very helpful and informative.
Hope that helps!
selby- New Member
- Posts : 3
Join date : 2011-11-21
Re: Newbie here with a few questions
Blexum wrote:Midnight Flyer, Just remember one thing about the info put out by those certain people......they are NEVER RIGHT. They have said the same thing every week for the last year straight. Over and over again and people get upset when it doesn't happen and then they get bashed for not believing them anymore by most people here. If it happens...it will happen. Just don't believe them when they say 100% by friday...oops, well maybe next monday..uh, tuesday? There's a computer glitch or a three letter agency is holding it up. But, my info is right on so listen to me and get your hopes up. You'll learn.
There will always be people who disagree and that's OK. Mostly people get "bashed" over here for not treating others with respect. Basically, if you would not say it to a person's face, it should not be said on line. If in doubt, leave it out. We have a few simple rules posted over to the left. If you follow them, you'll be safe.
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
- Posts : 27254
Join date : 2011-08-09
Age : 24
Location : Umm right here!
Re: Newbie here with a few questions
So true Kevind..however it is truly frustrating ...it's like clock work...it's here..it's not...I have some friends that say it's the ones's making the money before it rv's that keep the hype going..makes you wonder sometimes..I have trained myself not to be hanging on every word about the RV...
jbish422- Elite Member
- Posts : 201
Join date : 2011-10-25
Location : Tennessee
Re: Newbie here with a few questions
selby wrote:Midnight Flyer -
I'm a Newbie too so I hear ya... I opened a BOA acct. today and I had to explain the unlimited insurance on non-interest bearing accts. to them! I didn't bother going into specifics - just asked general questions about their handling of foreign currency and they told me none of the BOA branches verify foreign currency on-site, it all has to be sent off - which all those in the know say is a big no-no... not to let our dinar out of our sight. So what to do?
Also, back in December (12/24/11) there was an excellent post by ECOE (posted at OOMF - but I read it on Dinarrecaps) on dealing with a Banker and explaining spread fees, etc. Sorry I don't have the link but you should be able to find it in the archives by the date and author. I found it very helpful and informative.
Hope that helps!
Selby - Welcome to you as well. Glad to see I’m not the only newbie around. Finding good information is hard, but I truly believe forums like this are one of the best way to view pertinent information and learn.
I like Dinarrecaps also, even though it seems to be somewhat “cheerleaderish”. By that I mean it seems like they only post the positive stuff and anything negative is simply disregarded as smoke or misinformation.
But every time I start feeling a little discouraged about the RV and need a emotional boost, all I have to do is log onto Dinar Recaps and read that the RV is happening within 24 hours!!! lol
Thanks about the spread info. I will definitely go back into archives and read that.
I have been a little confused as to the purpose of us making bank deals or perks with the banks. I just read an update from Bulldog, quoted below.
Bulldog75: MIDDLECLASS ANSWER: BANK PACKAGES ARE PERKS. THEY WILL BE GIVEN AT CASH IN TIME AND MOSTLY RELATE TO "BANK SERVICES" WHICH MAY INCLUDE THOUGH NOT LIMITED TO: ATTORNEYS, TRUSTS, AFFIDAVITS, NOTARY, HIGHER % SAVINGS ACCTS. ALL BANKS WILL BE COMPETITIVE.
So I guess when people talk about getting perks, they're talking about the banks providing attorneys, trusts, affidavits, higher % rates on accts, etc. Stupid question, but would the attorneys services provided to us in the bank packages be free of charge and will there be no fee to set up trusts for example? I can't help but question if it's wise to use a BOA affiliated attorney as opposed to an attorney that I choose on my own.
Thanks!!
Midnight Flyer
Midnight Flyer- New Member
- Posts : 8
Join date : 2012-02-16
Re: Newbie here with a few questions
Well, I think the idea is that each bank will be offering different perks and the packages will outline them. Then you can decide which, if any fit your needs best. If a bank WERE to offer their legal dept. to set up trusts for free (heavy on the IF), I, personally wouldn't have any problem taking advantage of that. It's just paperwork basically and if they want to save me $1,200 - 1,500, so be it! I can't see a conflict arising from that situation or how they would gain anything by messing with me. IMHO, the place to be cautious would be in the investment/financial planning arena. Obviously you want someone looking out for your best interests rather than the bank's own investment agendas - which don't necessarily have to be mutually exclusive, but I would definitely do some research to make sure you have a proper comfort level with them before entrusting your $ to their investment professionals. Of course... Just my opinion... I could be wrong.
selby- New Member
- Posts : 3
Join date : 2011-11-21
Re: Newbie here with a few questions
YOU SURE DO LOOK LIKE YOU HAVE A HARD LIFE!!!!!SO HELLO THERE!!!!!selby wrote:Well, I think the idea is that each bank will be offering different perks and the packages will outline them. Then you can decide which, if any fit your needs best. If a bank WERE to offer their legal dept. to set up trusts for free (heavy on the IF), I, personally wouldn't have any problem taking advantage of that. It's just paperwork basically and if they want to save me $1,200 - 1,500, so be it! I can't see a conflict arising from that situation or how they would gain anything by messing with me. IMHO, the place to be cautious would be in the investment/financial planning arena. Obviously you want someone looking out for your best interests rather than the bank's own investment agendas - which don't necessarily have to be mutually exclusive, but I would definitely do some research to make sure you have a proper comfort level with them before entrusting your $ to their investment professionals. Of course... Just my opinion... I could be wrong.
abby ann- VIP Member
- Posts : 2362
Join date : 2011-10-28
Location : WIDGETSVILLE USA
Re: Newbie here with a few questions
If I look spoiled now, just wait until after RV!
selby- New Member
- Posts : 3
Join date : 2011-11-21
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