Fellow
Dinarians.. sharing what I got from another dinarian.. your thoughts on this?
On Saturday,
December 7, 2013 2:06 PM, Jon Jobe wrote:
Reminder:
If you exchange your dinar in your personal name and then put the proceeds into
an asset protection structure, you will have set up a paper trail from you
(personally) to your assets, and essentially defeated the two reasons for
creating an asset protection structure, which is to: 1) protect your assets and
2) keep them private.
If you have a simple car accident, even if its not your fault, an aggressive asset investigator could trace your assets to that structure and, claiming you are hiding assets, ask the court to open the structure’s files for examination— that’s the last thing you want.
So, please be patient. Wait until your asset protection structure has been set up before your exchange. This is the first step toward protecting your wealth. If you are unwilling to be wise here, then you are likely to be one of the statistics we always hear about—you’ll be one of those who will be broke in a year.
[8:07:54 AM] heartworth9: Creating the funds to purchase your asset protection:
Remember that any dinar you exchange, worth US$10,000 or more, will generate the requirement that the financial institution must file a Fincen form. The reason for this is that cash (currency) does not leave a paper trail so they have to create one by filing a Fincen form for that transaction. Whatever name you exchange in will be listed on that form. If you exchange personally you will asked to supply your SS#; if you exchange in your Trust’s name you will need to supply its EIN.
In the last update, I suggested that, if you don’t have the funds you need to purchase your asset protection structure you might want to exchange one dinar note in your personal name (which means the Fincen form would have your SS# listed). I cautioned you to exchange at the simple street rate for this and not mention anything about a higher rate or being in a group.
When your trust is set up and you exchange the rest of your IQD under your trust’s EIN using a bank group rate, nothing will cause a flag to come up because your first exchange was under your own SS#.
On that note, the smallest denomination note you have may be 25,000. If you exchange that one note at the street rate (US$3.50/IQD) it could generate about US$875,000, which is a lot of money. If you need that much money to pay off debts, to give away to others, to pay for your asset protection, etc. then this would work out fine. But, if you don’t want that much money in your personal bank account for whatever reason, a strategy you could consider, is exchanging a smaller note instead.
One way to get a smaller denomination note for not too much money is to purchase one on SilverGreetings.com (I have no financial relationship with this company and gain nothing by referring it to you). For example, as of this writing, you can get 10- 1,000 IQD notes for US$29. One benefit of using this company to purchase is that you can buy the IQD using a credit or debit card and the value of that is the item is immediately yours (as soon as you pay for it upon placing your order). So if the revalue occurs before it ships, it doesn’t matter; they will ship it regardless. I [Sara], and many others in this group have used this company for years; it is safe, professional and efficient. The owner (Abraham) told me recently that he has billions of dinar so there is no concern he will run out.
If you have a simple car accident, even if its not your fault, an aggressive asset investigator could trace your assets to that structure and, claiming you are hiding assets, ask the court to open the structure’s files for examination— that’s the last thing you want.
So, please be patient. Wait until your asset protection structure has been set up before your exchange. This is the first step toward protecting your wealth. If you are unwilling to be wise here, then you are likely to be one of the statistics we always hear about—you’ll be one of those who will be broke in a year.
[8:07:54 AM] heartworth9: Creating the funds to purchase your asset protection:
Remember that any dinar you exchange, worth US$10,000 or more, will generate the requirement that the financial institution must file a Fincen form. The reason for this is that cash (currency) does not leave a paper trail so they have to create one by filing a Fincen form for that transaction. Whatever name you exchange in will be listed on that form. If you exchange personally you will asked to supply your SS#; if you exchange in your Trust’s name you will need to supply its EIN.
In the last update, I suggested that, if you don’t have the funds you need to purchase your asset protection structure you might want to exchange one dinar note in your personal name (which means the Fincen form would have your SS# listed). I cautioned you to exchange at the simple street rate for this and not mention anything about a higher rate or being in a group.
When your trust is set up and you exchange the rest of your IQD under your trust’s EIN using a bank group rate, nothing will cause a flag to come up because your first exchange was under your own SS#.
On that note, the smallest denomination note you have may be 25,000. If you exchange that one note at the street rate (US$3.50/IQD) it could generate about US$875,000, which is a lot of money. If you need that much money to pay off debts, to give away to others, to pay for your asset protection, etc. then this would work out fine. But, if you don’t want that much money in your personal bank account for whatever reason, a strategy you could consider, is exchanging a smaller note instead.
One way to get a smaller denomination note for not too much money is to purchase one on SilverGreetings.com (I have no financial relationship with this company and gain nothing by referring it to you). For example, as of this writing, you can get 10- 1,000 IQD notes for US$29. One benefit of using this company to purchase is that you can buy the IQD using a credit or debit card and the value of that is the item is immediately yours (as soon as you pay for it upon placing your order). So if the revalue occurs before it ships, it doesn’t matter; they will ship it regardless. I [Sara], and many others in this group have used this company for years; it is safe, professional and efficient. The owner (Abraham) told me recently that he has billions of dinar so there is no concern he will run out.
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