Q&A On the Global Currency Reset
So….Who Wants to be a Millionaire? With the Coming Global Currency Reset, Just About Anyone Can…..If They Want to!!! Here’s Some Practical Thoughts and Advice!
The upcoming global currency reset or currency exchange (C/E) reset has raised a lot of questions. This Q&A is intended to add some prudent information to help those who are not sure about getting involved or have some questions.
But first a little background, on me. Most of you remember me as the initial Director of The Hope Chest and I was the co-host on the “Let’s Talk 2012 and Beyond” radio program, and just last week I started a new radio program on Wednesday nights called “The Sedona Connection.” (www.thesedonaconnection.com.)
But, I also have a background in banking and finance, was a former State Senator and I’ve been a market trader for over 17 years. I now live in Sedona, AZ and I’m helping a group of about 50 of us that have purchased dinar and dong……we’re all about to become overnight millionaires and we are taking the prudent steps of being responsible with our new gift of wealth.
I’ve been writing, giving help, direction and practical application to the group now for about 5 months. I am offering this insight to a larger group with some practical Q&A. Many of you have friends or family you’d like to participate in this C/E but they are not about to believe in what many consider a hoax or scam. They want some proof or practical reasoning about what is about to happen. This Q&A should help.
What is the Global Currency Reset or Revaluation?
While the Iraqi dinar (IQD) has had most of the attention, there is actually a complete global currency reset about to happen. About 198 currencies in the world are being reset backed by assets and commodities such as gold, silver, oil, wheat, rice, etc. Various economists and experts have said we must do this or the whole global financial system will collapse.
What is the Basis of This Currency Reset?
A few weeks back there was a You Tube video posted on various blog sites by Bix Weir mentioning the elimination of worldwide debt. The real basis of the interview was the coming currency collapse. All of the G8 countries (U.S, Canada, France, Great Britain, Germany, Italy, Russia, and Japan) have fiat currencies, meaning there is nothing backing them up but the good faith of the government. We know how good that is considering most of them are theoretically bankrupt. The Federal Reserve in the U.S. can print money at will and put it into circulation at any time. They have been doing this by the trillions for the last few years; it’s obvious they think money can grow on trees as they can just print up whatever they want whenever they want. This normally causes a huge cycle of inflation, devaluing of the currencies, and leading to a collapse. Every fiat currency in the history of the modern world has eventually collapsed and all of the G8 countries are currently in debt beyond their ability to recover. They are all theoretically bankrupt beyond their ability to pay back their debt, meaning it’s only a matter of time before their currencies collapse. This printing of trillions is just kicking the can of the collapse down the road. Bix Weir stated we are on track for this collapse in the next 2 to 4 months. The collapsing currency also eliminates all debt as money has become worthless. He stated we are on a path of two choices, currency collapse or a global currency reset backed by commodity assets. One is inevitable (the collapse) if we do not do the other (the reset).
Who’s Behind this Currency Reset?
The shadow governments controlled by the cabal/illuminati have manipulated the global finances of the modern world for a couple of centuries. They currently manipulate and control the stock market, price of gold and price of oil. They have deliberately kept about 60% of the world’s population living on less than $2 per day and the rest of the developed world in some form of economic slavery. The ultra-wealthy 1% has controlled the rest of the world’s population through the power of controlling the world’s money supply.
Their lust for power and control is about to fall apart. A coalition of about 160 countries led by the BRICS nations (Brazil, Russia, India, China, South Africa) have formed a united front on the G8 and called their bluff of corruption and greed. The G8 so weakened the world economy it gave way for the 160 nation coalition to step up and call “check” in the world financial chess match. It’s game over; the coalition is demanding a return to asset backed currencies to stabilize the world economy. The IMF (International Monetary Fund), World Bank and BIS (Bank of International Settlements) have quietly been working on this reset for 5 to 10 years.
Why are the Iraqi dinar (IQD) and Vietnamese dong (VND) so Important?
There are three currencies that are way out of balance with the rest of the world; the Indonesian Rupiah is the third. While I’m not familiar with Vietnam’s full story, Iraq’s has been more center stage. Both of their currencies were devastated from their wars with the U.S. as their currencies can be purchased for 1/10th of pennies on the dollar. In 1990 when Saddam Hussein invaded Kuwait, the country was placed on economic sanctions by the U.N. They could not trade their goods on the open international market and their currency was taken off the foreign exchange. This is a U.N. Chapter 7 seven status.
On June 27th, 2013 the U.N. Security Council voted 15-0 to remove Iraq from chapter 7 and return them to chapter 6 status. Here they once again became a member of the international trading alliance, but to do so they must bring their currency back onto the foreign exchange market, meaning it must be revalued.
Today 1162 dinar will trade for $1 U.S. In 1990 before the sanctions .29 dinar would trade for $1. To reverse the trade value, in 1990, 1 dinar would trade for $3.47. Today approximately 21,100 Vietnamese dong will trade for $1 U.S. So you can see the huge imbalance. When the currency reset is backed by commodity assets those values will skyrocket and come back into balance with the rest of the world.
So Why Are the Dinar and Dong Going to be So Valuable?
Each country’s currency value will be based on the countries tradable commodity assets. Not only does Iraq have the 2nd largest oil reserves in the world, but they have huge gold mines. Many are speculating that Iraq’s dinar could become the strongest currency in the world. Their Prime Minister was recently quoted as saying, “We have billions and billions of barrels of oil to trade, but we do not even have running water.” Their country has been devastated by war and they want to rebuild. They are hungry and anxious for this reset to happen and are willing to pay handsomely for it.
For Vietnam, it’s rice, the world’s largest food commodity. Vietnam is the 2nd largest rice producer in the world, have large amounts of rubber and they have offshore oil rigs. They have been selling their rice and oil to China who has kept their currency in suppression since the war. Based on an open and free market the value of their rice and oil will explode to be on par with the rest of the world.
So, What are the Exchange Rates of the Dinar and Dong going to be?
That’s the trillion dollar question!!! Some individuals have been working on this C/E for close to 10 years. For most of that time speculation had the dinar returning to its 1990 value of $3.47 and the dong around $.47. Based on my involvement, talking with scores of people involved and reading the blog sites every day, I believe these are the minimum rates. But, in the last month so much has changed. The key was the U.N. vote on June 27th to bring Iraq back into the global open market, when that happened everything changed. Since then the blog sites have been saying the reval could happen any day now. But, things change virtually every week, and sometimes every day.
What most people don’t know is the U.S. government has trillions of dinars to exchange. They want the value to be high so they can pay off the U.S. debt and they have been negotiating behind the scenes to get the rate as high as possible. Many insiders who have contacts in the IMF, U.S. Treasury, the Central Bank of Iraq, and some of the larger banks in the U.S. have been reporting the rates are already appearing on the back screens of the bank officer’s computers. This has been going on for over a month and the rates are reported to be very very high. While this is all speculation at this time, the intel appears to be very reliable. Some feel those rates are just test rates and will not be accurate, while others are reporting those are the C/E rates for the private groups (I’ll explain that later.)
Ok….OK…so what are the Rates?
Speculation has the minimum rates of the dinar at $3.47 and the dong at $.47. The upper rates…..I hope you’re sitting down. The dinar is at $23.50 and the dong at $3.60. Do the math; you’ll see why we can get excited!!!
100,000 dinar minimally will become $347,000 and 100,000 dong will become $47,000. At the high end 100,000 dinar will trade for $2,350,000 and 100,000 dong will become $360,000.
So……What are the Costs?
There are different options for purchasing the currencies. Because the dong is currently tradable on the open market it can be purchased at a local bank. But, don’t expect to walk in and get the currency the same day. Most of the banks have to order it from larger HQ’s and it will take about 3 days before you will have it in hand. Others have mentioned you can go to a foreign exchange booth at a local airport. But, I wouldn’t count on that either. For security reasons they do not keep large quantities on hand. The larger quantities you would likely have to get through a bank or through the online certified dealers.
You can purchase 100,000 dong for about $12-$14 at a bank. You can get the same for about $18-20 online. Dinar or dong can be purchased by certified online dealers. You can Google them, but make sure they are certified and guarantee shipment.You can acquire 25,000 dinar for about $30-$40 online. Those are total costs which include the currency, the transaction fee, shipping and handling and a small profit for the dealer/broker. Most of the online dealers require a money wire and extra for Fed Ex shipping. There is dealer our group of about 40 in Sedona have been using. We pay a few extra dollars per transaction, but we have all been very pleased with the level of service. One flat fee covers everything and we have the currency in hand in about three days from the time of order. They are also one of the very few who allow you to use a debit or credit card and they also have a 7 day guaranteed return policy, no questions asked.
Do the Math!!!
Here’s the bottom line, using the higher costs, $20 can buy you 100,000 dong that minimally turns into $47,000. $120 can buy you 100,000 dinar that minimally turns into $347,000. Rates vary based on volume purchased, but you get the idea!
So……What’s the Real Bottom Line, in Other Words, What About Taxes?
That’s another million dollar question. Tax implications are something we do not want to overlook.
There are all kinds of speculation and rumors floating around on the blog sites regarding taxes. I’ve done my homework, but there is more to the story.
Before taxes, the dong is a better return on the dollar if the rates are higher across the board. But, reliable intel information is saying there may be a huge tax advantage in purchasing the dinar.
What is the Current Law Regarding Taxes?
I can only speak to U.S. law and do not have the time to do the hours of research for other countries. Rumors, rumors and more rumors are floating around of what the President or others are going to do about the taxes for the C/E. My advice as someone who was a lawmaker (Senator) for 12 years; stick with the current law until you have solid proof otherwise. The U.S. Constitution is clear; only Congress can impose a tax. The law does not allow a tax to be applied retroactively, so the current law applies until something else is passed through Congress.
The current law considers an increase of value in a currency an investment and is taxed as a capital gain. Period!!!
IRS Publication 525, page 30, “Taxable and Non Taxable Income, any increase over $200 is considered a capital gain. Here’s the link to the publication to read it yourself: http://www.irs.gov/pub/irs-pdf/p525.pdf#page30.
So, What is the Capital Gains Tax Rate in the U.S.?
There are two rates for capital gains, short term and long term. Long term is having the asset in possession for more than one year. If you purchased your dinar or dong more than one year before you exchange it, it will be long term. Make sure to keep your receipts for your date of purchase. If you can’t prove your date of purchase it could be very very costly.
Anything less than one year is short term. But here’s the key, the date is not based on when the Reval takes place, but the day you exchange it. The capital gain is not considered a tax until it is realized, or turned in.
So What’s the Rates?
Short term is taxed as normal income. Those rates vary based on the amount of your taxable income. The top U.S. rate for 2013 is making over $450,000. Most of us will qualify for those rates.
Short term top rate: 39.6%
Long term rate: 20.0%
Here’s the scoop, most U.S. citizens should plan on paying 40% to 45% of their reval earnings in taxes. Don’t forget your state taxes, those vary from state to state and are different based on capital gains state laws.
Why Could the Dinar be a Far Better Value After Taxes?
That’s another million dollar question, but first, the rest of the story. When I was first approached about purchasing dinar, I asked …….who’s going to pay the trillions of dollars for the increase in value of the RV. Answer…..China……how…..oil credits.
Iraq has billions of barrels of oil. China has billions of people and China has trillions of U.S. dollars from the decades of purchasing U.S. bonds. It cost Iraq $2 to produce a barrel of oil, while the current market is about $104 per barrel. Iraq wants to have as many of the dinar, now in our possession, in their country quickly.
Here’s what’s supposed to be coming down, but remember it is all speculation until proven otherwise. China is willing to pay the higher rate for the dinar from us, paid for by their trillions of U.S. bonds. They purchase the dinar from us in a private placement exchange and then use those dinars to purchase oil from Iraq at $30 per barrel vs. the open market of $104.
This produces a win-win-win scenario. We win by the higher dinar exchange rate, China wins by receiving billions of barrels of oil at a discounted rate and Iraq wins by quickly receiving their dinar back so they can rebuild their country.
Here’s the other tax implication, creating a great savings for us. This exchange could be considered a commodity exchange, not a capital gain and it could be considered tax-free. Yes, that means we may be able to receive the full exchange value with no tax implications. The jury is still out on that decision as it is one of those gray areas in current tax law.
In that situation the President has leeway to decide how it can apply and has supposedly brokered a deal with China. As of now, the speculated deal has China paying an 11% fee on the dinar/oil exchange and we will pay nothing. He also was the one who supposedly was able to get the dinar rate up to around $23. The President wants the higher rate so the government’s dinar can be used to pay off the U.S. debt. Also, U.S. is China’s largest export partner. When millions of U.S. citizens have millions of new dollars to spend, China benefits from our purchasing their goods. It’s another win-win-win proposal.
Because this tax deal applies to the oil credits, it appears to only apply to the dinar and not the dong. While some are saying the tax free exchange may apply to the dong, there is very little intel backing that up.
Based on the inside intel, if this happens the dinar is by far a better return after taxes.
As a straight up purchase, and applying the 39.6% tax rate, and using the minimum exchange rates, the dong is a better value on the dollar spent.
But, the intel for the dinar is far more positive and the potential for exchanging them tax free gives them a better odds. The dinar can revalue without a global currency exchange while the dong is dependent upon it taking place. There is far more reliable intel on the dinar than the dong.
So, what should we do?
I can’t give you a direct answer, there is so much speculation on both sides and so many variables that we cannot accurately verify. But, here’s what I did. I made a number of purchases over a few months. Each time I would go into meditation and inquire from my higher self. I felt it was prudent to have dinar and dong, but leaned to the dong side. It depends on how much money you want to spend, what you can afford and what type of guidance you receive from within yourself.
How should I tell this to my friends?
I’ve tried to give you the more practical info so you can share this with friends and family who will think this a scam. In other words you can share this info with others without their thinking you’re crazy and trying to find some magical way to win the lottery.
There are a number of blog sites quoting esoteric messages from channeled sources with wonderful information. The esoteric side gets me so excited about the higher rate. They appear to have much more detailed inside info and it’s hard to ignore. But, space is limited for now.
What do we do When It’s Time to Cash In?
There are reported to be three different exchange rates. 1. The street rate, what you get if you go to the bank teller window as an individual. 2. The ability to negotiate your own rate with a bank of your choice. 3. The private group rate.
What is the Private Group Rate Exchange?
It is reported the private group rate is going to be the best. In fact many are implying the street rate could be the lower $3.47 while the private rate may be as high as $23.50. But, this is still all speculation. Why? The China oil credit issue. The currency you exchange at a bank will go directly to the US Treasury to exchange with Iraq and not to China. The private group exchange goes directly to China and they use it to purchase the discounted oil.
Can I be a Part of the Private Group Exchange? Yes!!!
All you have to do is sign up on the www.dinarrecaps.com blog site email list. This group now has over 130,000 people and it is the volume of the group that will get the higher private rate.
How Will I be Notified of the Group Exchange?
Wells Fargo bank is working as the independent broker for the group. You must be on the email list. When the RV happens they will send out an email to the list giving an #800. You will call that number, they will verify your email, you will give them your zip code and they will direct you to the closest private exchange center to your location. This will be a private exchange with Wells Fargo employees and will not be at a local bank branch for security reasons.
Do I have to Accept or Use Wells Fargo for this Exchange?
Nope, it’s totally your choice based on the three options listed above. But, if you get my drift, you would be crazy to not consider it or at least check it out. Why? You can take your dinar into a bank, receive the lower $3.47 and have to pay about 40% in taxes. Or you can take your dinar to the private exchange, receive upwards to $23 and potentially pay no taxes…..DUHHHHH…..NO BRAINER……unless you like paying high taxes, throwing your money away and making the bankers get richer. How? Those bankers who give you $3.47 are going to take that dinar and exchange it for the higher $23. They are not stupid; they are in the business of making money for their bank and bonuses for themselves!!!
When is this RV Going to Happen?
Any Day……Seriously…..it could be tomorrow! All the reports say it should have happened two to four weeks ago.
I have chosen to not give you any specific currency broker, etc. as I want to respect others choices. But, as stated all of us in our group of about 40 in Sedona have been very happy and comfortable with who we are using. We have been having meetings in a private home to support each other, learn from each other, and give info to each other.
We are researching local CPA’s, tax attorneys and financial planners to use after we receive our money.
One night I gave a presentation to a group of about 15 people in my home. We talked taxes and other ways to be prudent with our new wealth. We have formed a foundation as a 501(C)3 non-profit that we are going to use for funding community projects.
I have all this in three short You Tube videos about 15-17 minutes each along with a power point presentation explaining the details. If you’d like to view these send me an email todaveschmidt@msn.com and I’ll send you the links.
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