• This bank will have 3 locations that will do this exchange
in my city.• For security reasons you will be taken to a secure location to do
the count, it will not be done in the branch. He said imagine a line of people
exchanging dinar in a branch. It is a huge security risk and branches are not
set up to do business this way.
.The money will then be transferred to your account or wired
if external.• He has several people that have the largest safety deposit boxes
they offer and they are stuffed FULL of $25k notes and the bank can’t have that
kind of currency out in the regular branch.
• Next week he has a meeting at the main branch where they will discuss the exchange procedures as well as distribute literature for the employees so they will be prepared.• Make sure you put this in a NIB.• He strongly advised to have your accounts open prior to the exchange. So if you are going to have a business account for a LLC go ahead and open it with $100 as well as your personal account.
• The bank will not be withholding taxes PERIOD. This will be 100% your responsibility.• Tax rate will be ~11% if you have had your Dinar over 1 year and ~38% if less than 1 year at time of exchange. %’s may be off he was recalling from memory. If you do not have documentation that proves the date of purchase the IRS and State Tax Authority will assume the greater tax % which is the 35%. He recommended that you determine your tax % and send it directly to the tax authorities. Do not wait
.• The only other fees will be fees associated with any bank account and currency exchange fees which are waived for current customers.• They also have the clear large money bags for sending currency to the Federal Reserve or the UST. He was not sure which it will go to now and will have it as a topic in his meeting next week
.• Also about the FRN and the UST he said he can see both having currency because neither one should have 100% control but he is still in the middle of this information so we will know more soon.• Release from Chapter 7 was huge as now business can move forward.• Iraq’s neighbors are waiting for this currency to RV so they can commence business.
Yes there was war and other issues but business is business.• The rates that people are probably seeing on the teller screens are what is called “last traded rates” . Meaning if someone tells you that $3.44 is showing up then it is the last rate the IQD was traded at.
Yes the rate from years ago not a future rate.• Based on the amount of oil in Iraq, just oil, they can support a rate around $18 but will probably not even come close to that so they can carry a surplus.
Probably will just open at the rate it closed at years ago.Ok that is about all. Please don’t ask who he is or what bank. He requested this because if I say the bank it will get out and he will have a line of crazies out the door.
• Next week he has a meeting at the main branch where they will discuss the exchange procedures as well as distribute literature for the employees so they will be prepared.• Make sure you put this in a NIB.• He strongly advised to have your accounts open prior to the exchange. So if you are going to have a business account for a LLC go ahead and open it with $100 as well as your personal account.
• The bank will not be withholding taxes PERIOD. This will be 100% your responsibility.• Tax rate will be ~11% if you have had your Dinar over 1 year and ~38% if less than 1 year at time of exchange. %’s may be off he was recalling from memory. If you do not have documentation that proves the date of purchase the IRS and State Tax Authority will assume the greater tax % which is the 35%. He recommended that you determine your tax % and send it directly to the tax authorities. Do not wait
.• The only other fees will be fees associated with any bank account and currency exchange fees which are waived for current customers.• They also have the clear large money bags for sending currency to the Federal Reserve or the UST. He was not sure which it will go to now and will have it as a topic in his meeting next week
.• Also about the FRN and the UST he said he can see both having currency because neither one should have 100% control but he is still in the middle of this information so we will know more soon.• Release from Chapter 7 was huge as now business can move forward.• Iraq’s neighbors are waiting for this currency to RV so they can commence business.
Yes there was war and other issues but business is business.• The rates that people are probably seeing on the teller screens are what is called “last traded rates” . Meaning if someone tells you that $3.44 is showing up then it is the last rate the IQD was traded at.
Yes the rate from years ago not a future rate.• Based on the amount of oil in Iraq, just oil, they can support a rate around $18 but will probably not even come close to that so they can carry a surplus.
Probably will just open at the rate it closed at years ago.Ok that is about all. Please don’t ask who he is or what bank. He requested this because if I say the bank it will get out and he will have a line of crazies out the door.
2 comments:
"He recommended that you determine your tax % and send it directly to the tax authorities. Do not wait"
Excuse me??? Just do a search on this blog and you will find that taxes are VOLUNTARY. Do your own research.
For those that don't want to do their own research, at least look into some kind of asset protection...
but anyone who would just send in money to the IRS "right away" would be STUPID...and I wouldn't trust this Bank manager to have ANY of my interests at heart. Set it aside for the future and see how things unfold..If the Republic indeed does rise from the ashes..there won't be any cause since the IRS will not be what it is today at that point....let us see how this all plays out...but don't "play into their greedy hands" willingly out of ignorance.
Blessings,
Cd
This ia getting worse by the day. WF is not holding up the RV? The UST? This picture is sketched with Financial Instability throughout the ME largely paid for by the CIA. Mth. Goat makes the delay clear and that there is a saboteur within WF (better to call them WTFF) that is "causing the slippage." Oooooo, only a moron would believe WF is that incompetent that many times. There are literally thousands of banks to handle a gd currency exchange. Intrusion is now obvious. Worse is the latest 11% vs. 38% if less than a year onerous Tax without representation by the screwballs that delayed this thing and have, with US government oversight, created financial instability throughout ME - as Mtn.G fills in the background. Same template from Iran years ago with Mossadeggs downfall....contrived by Roosevelt/Dulles. Yes, A.W. Dulles, one of the greatest villains in history. Not doing the right thing but doing the "Corporate fascist" thing. Stealing from the American People and other peoples to line the pockets of these corporations and individuals. Gen. Smedley Butler...worth knowing for background on the misuse of the military.
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