Currency Revaluation 10 Useful Tips – Updated again!
Whether you currently own foreign currencies, such as the Iraqi Dinar and/or Vietnam Dong, or plan to, these and other countries revaluing their currencies are about to come to fruition. Here are 10 useful tips for you to consider post revaluation:
1 – Plan Ahead
Determine who, how, where, etc – everything, but when. Decide if you are going to exchange back through the institution in which you bought the currency.
For instance, if you used XXX XXX.com (A Dealer) to purchase your Dinar or Dong currencies, it would be convenient to exchange back through them. It may be the fastest way to have access via wire transfer to the bank account of your choice.
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Whether you currently own foreign currencies, such as the Iraqi Dinar and/or Vietnam Dong, or plan to, these and other countries revaluing their currencies are about to come to fruition. Here are 10 useful tips for you to consider post revaluation:
1 – Plan Ahead
Determine who, how, where, etc – everything, but when. Decide if you are going to exchange back through the institution in which you bought the currency.
For instance, if you used XXX XXX.com (A Dealer) to purchase your Dinar or Dong currencies, it would be convenient to exchange back through them. It may be the fastest way to have access via wire transfer to the bank account of your choice.
~~~
The XXX XXX has been prepared for the upcoming Dinar and Dong revaluation exchanges (Click here to watch a video explaining what is needed to exchange).
On the other hand you may be more comfortable taking your currency notes to a branch of a bank that is However, do some advance research to discover what is required for types of exchanges. As an example, exchanging the currency you have. You will need to contact them in advance to ensure they are.
Those who already have accounts at a bank, and preferably the branch will be assisted first. For example, the Sedona, Arizona branch of Chase Bank will be exchanging Dinar.
[1] In 2011 they began preparing for the exchange of Dinar after it revalues.
On the other hand you may be more comfortable taking your currency notes to a branch of a bank that is However, do some advance research to discover what is required for types of exchanges. As an example, exchanging the currency you have. You will need to contact them in advance to ensure they are.
Those who already have accounts at a bank, and preferably the branch will be assisted first. For example, the Sedona, Arizona branch of Chase Bank will be exchanging Dinar.
[1] In 2011 they began preparing for the exchange of Dinar after it revalues.
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The branch manager has indicated they will have counterfeit machines, armed vehicles, and security personnel during business hours for their safety and yours.
In addition, due to a surge of exchanges and changes to the IRS code, institutions are required to turn in a Form FINCEN 104 for transaction of $10,000 or more. Most likely, institutions have this form on hand. Inquire when you make an appointment. Otherwise, the form is available on line. |
2 – Shop Around
Just like any major purchase, it is best to shop around for the best exchange rates/fees. This is not ‘cashing in’. It is exchanging currency. A similar analogy is when you go on vacation to a foreign country, and you require their currency. You pay a fee (less than $10) to an exchange institution – let’s say at the airport.
You receive the amounts in the foreign currency based on the rate of exchange for that day. Then, when you return from vacation, if you have any left, you exchange back. You again pay a fee and the rate may be different – up or down.
The difference in exchanging Dinar or Dong is the resultant amount you will receive. You may want to exchange it all at once or do some shortly after it revalues, and more later. It is likely that institutions will ‘jump on the band wagon’ weeks after the revaluation and will drop their fee or offer better rates just to get your business.
Please note: I am not advocating doing business with any major bank since they are all a part of the reason we are in the mess we are in. However, we have to use the existing structure in order to exchange. Once we have access to our money, we can easily transfer to a community bank, credit union, or seek out institutions that operate differently than the fraudulent banking system.
3 – Currency Exchange is Not Capital Gains
Likely coming from those who do not know any better, such as tax accountants and brokers, unbeknownst to them currency exchange is not short term capital gains. You will not be taxed 35%.
However, depending on the banking institution’s policies, there may be additional charges for exchanges resulting in receiving over $10,000.
Also, it is unnecessary to open a corporation to attempt to not to get taxed on monies received. Or making a ‘loan to an existing corporation’ is unnecessary and is not worth the time and effort.
That is, unless it is in keeping with your business plan. But, opening a ‘fake’ corporation for the sake of not being taxed is a lot more trouble than it is worth. This is especially true if it is a nonprofit corporation.
Just like any major purchase, it is best to shop around for the best exchange rates/fees. This is not ‘cashing in’. It is exchanging currency. A similar analogy is when you go on vacation to a foreign country, and you require their currency. You pay a fee (less than $10) to an exchange institution – let’s say at the airport.
You receive the amounts in the foreign currency based on the rate of exchange for that day. Then, when you return from vacation, if you have any left, you exchange back. You again pay a fee and the rate may be different – up or down.
The difference in exchanging Dinar or Dong is the resultant amount you will receive. You may want to exchange it all at once or do some shortly after it revalues, and more later. It is likely that institutions will ‘jump on the band wagon’ weeks after the revaluation and will drop their fee or offer better rates just to get your business.
Please note: I am not advocating doing business with any major bank since they are all a part of the reason we are in the mess we are in. However, we have to use the existing structure in order to exchange. Once we have access to our money, we can easily transfer to a community bank, credit union, or seek out institutions that operate differently than the fraudulent banking system.
3 – Currency Exchange is Not Capital Gains
Likely coming from those who do not know any better, such as tax accountants and brokers, unbeknownst to them currency exchange is not short term capital gains. You will not be taxed 35%.
However, depending on the banking institution’s policies, there may be additional charges for exchanges resulting in receiving over $10,000.
Also, it is unnecessary to open a corporation to attempt to not to get taxed on monies received. Or making a ‘loan to an existing corporation’ is unnecessary and is not worth the time and effort.
That is, unless it is in keeping with your business plan. But, opening a ‘fake’ corporation for the sake of not being taxed is a lot more trouble than it is worth. This is especially true if it is a nonprofit corporation.
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4 – Consider Exchanging into Multiple Currencies
Many banks have what is referred to as multi-currency accounts or foreign currency accounts These were initially designed for business travelers and companies that frequently deal with different currencies. In addition, it is common place due to global financial interactions. For this reason, most major banks offer some sort of multiple currency account options. |
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Now, however, there is a broader issue at hand that you may want to seriously consider exchanging into more than just U.S. dollars. This is due to USD teetering on the brink of no longer being the world currency. Several countries have already started to refuse accepting USD! [2] Most notable are China and India.
Many shops in China no longer accept USD-based credit cards. Also, foreigners cannot convert American dollars into renminbi beyond a given quota. – New York Times
5 – Utilize Foreign Banks in the U.S.
Similar to multi-currency accounts, another option is to open an account at a foreign bank with locations in the U.S. For example, what was a U.S. owned bank, M&I Bank is now BMO Harris Bank (Bank of Montreal). Since this is a Canadian bank, it is highly likely that you can open an account in Canadian currency.
Or utilize a number of foreign banks located in the U.S. such as HSBC, Bank of China, and many others. Visit the National Information Center for data collected by the Federal Reserve. It allows you to search to find any banking institution using various filters.
Another type of account that people often inquire about are referred to as Off Shore accounts. These are not as attractive as they used to be because of multiple currency accounts.
Also, now since the IRS is making it harder on foreign banks offering off shore accounts, as of 2012 many started turning away Americans. Some banks have even stopped international wire transfers using USD! [3]
“Conducting international transactions in U.S. dollars can limit your international market opportunities and may reduce profits when exchange rates are unfavorable.” – Citizen’s Bank
Let us not forget that exchanging into foreign currencies is easier than you think since most everything is electronic. Once ‘currency notes’ are exchanged, they become electronic money.
So it is an easy way to move away from USD, which will lose its value rapidly when no longer held as the world’s currency. It already has!
“Overall, the U.S. dollar has lost approximately 98 percent of its value since the Fed was first established in 1913.” – Michael Snyder, Centre for Research on Globalization (November 25, 2014)
Many shops in China no longer accept USD-based credit cards. Also, foreigners cannot convert American dollars into renminbi beyond a given quota. – New York Times
5 – Utilize Foreign Banks in the U.S.
Similar to multi-currency accounts, another option is to open an account at a foreign bank with locations in the U.S. For example, what was a U.S. owned bank, M&I Bank is now BMO Harris Bank (Bank of Montreal). Since this is a Canadian bank, it is highly likely that you can open an account in Canadian currency.
Or utilize a number of foreign banks located in the U.S. such as HSBC, Bank of China, and many others. Visit the National Information Center for data collected by the Federal Reserve. It allows you to search to find any banking institution using various filters.
Another type of account that people often inquire about are referred to as Off Shore accounts. These are not as attractive as they used to be because of multiple currency accounts.
Also, now since the IRS is making it harder on foreign banks offering off shore accounts, as of 2012 many started turning away Americans. Some banks have even stopped international wire transfers using USD! [3]
“Conducting international transactions in U.S. dollars can limit your international market opportunities and may reduce profits when exchange rates are unfavorable.” – Citizen’s Bank
Let us not forget that exchanging into foreign currencies is easier than you think since most everything is electronic. Once ‘currency notes’ are exchanged, they become electronic money.
So it is an easy way to move away from USD, which will lose its value rapidly when no longer held as the world’s currency. It already has!
“Overall, the U.S. dollar has lost approximately 98 percent of its value since the Fed was first established in 1913.” – Michael Snyder, Centre for Research on Globalization (November 25, 2014)
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6 – Wealth Manager vs. Investment Adviser
Unless you are into investments and exchange currency often, likely you could use someone to assist you in making good decisions. This is where a wealth manager comes in. These kinds of representatives are available at most major institutions where you are exchanging your currency, and their services are free (or included). Unlike a tax accountant or stock broker, who only know taxes or about stocks, bonds and mutual funds, respectively, wealth managers know the difference in ‘cashing in an investment’ versus currency exchange |
The downside to wealth managers is that they are judged by how many new clients and assets they bring to the institution. Whereas, a registered investment adviser is legally required to act fiduciary capacity and to put your interests first.
Also known as certified financial planners or practitioners, while not bound by law, adhere to similar professional standards. [6] What does your gut tell you about the wealth manager?
Ask if they are bound by law to act in your best interest in a fiduciary capacity? Gauge their response, and decide for yourself if the advice being given solely benefits the institution, or is really meeting with your requirements.
Also known as certified financial planners or practitioners, while not bound by law, adhere to similar professional standards. [6] What does your gut tell you about the wealth manager?
Ask if they are bound by law to act in your best interest in a fiduciary capacity? Gauge their response, and decide for yourself if the advice being given solely benefits the institution, or is really meeting with your requirements.
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7 – Good Investments to Do Now
For those who are in-the-know concerning the imminent global financial reset and the move away from USD, it is a no-brainer to consider investing now into 2 things. If you can afford it, buy various currencies now. Consider buying as much Dinar and Dong as possible, but also other currencies that are not necessarily being revalued. |
These include those that are the top-traded (See Figure 1) or currencies that have retained the highest value over the past few years (See Figure 2).
Also, financial investors are already making suggestions as to what currency may replace the USD as the world’s currency. [4] Will it be the Chinese renminbi, Hong Kong dollars, or Japanese Yen? Time will tell.
Buy gold and silver. If there ever was a time to buy gold and silver, it is NOW. Gold is up 300% and silver continues to rise. [5] And consider that ‘value’ to currencies with the exception of the U.S. dollar is more based on assets in a country. The top assets are oil reserves, gold, silver and other natural resources.
8 – Post Revaluation Investments
After you have exchanged your currency and you have all that money, what are you going to do with it? Buy a house, new car, pay off bills, go on vacation, spa day? Yes, yes, yes, oh yea, hell yes!
Then, what? PLEASE consider not contributing to the enslavement system we currently have. Think in terms of what a NEW America would be like. Or if it is easier for you think, “WHAT WOULD THE JETSONS USE?”
“We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein
Then, invest in alternative and free energies, clean technologies, holistic health devices, cures that already exist, biodegradable plastic, and a multitude of other products and technologies available!
Personally convert your house, car, computer, appliances, anything and everything to only products that are beneficial to humanity and noninvasive to the environment. We have a unique opportunity to change the world. Or as Gandhi aptly said, “Be the change you wish to see in the world.”
Also, financial investors are already making suggestions as to what currency may replace the USD as the world’s currency. [4] Will it be the Chinese renminbi, Hong Kong dollars, or Japanese Yen? Time will tell.
Buy gold and silver. If there ever was a time to buy gold and silver, it is NOW. Gold is up 300% and silver continues to rise. [5] And consider that ‘value’ to currencies with the exception of the U.S. dollar is more based on assets in a country. The top assets are oil reserves, gold, silver and other natural resources.
8 – Post Revaluation Investments
After you have exchanged your currency and you have all that money, what are you going to do with it? Buy a house, new car, pay off bills, go on vacation, spa day? Yes, yes, yes, oh yea, hell yes!
Then, what? PLEASE consider not contributing to the enslavement system we currently have. Think in terms of what a NEW America would be like. Or if it is easier for you think, “WHAT WOULD THE JETSONS USE?”
“We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein
Then, invest in alternative and free energies, clean technologies, holistic health devices, cures that already exist, biodegradable plastic, and a multitude of other products and technologies available!
Personally convert your house, car, computer, appliances, anything and everything to only products that are beneficial to humanity and noninvasive to the environment. We have a unique opportunity to change the world. Or as Gandhi aptly said, “Be the change you wish to see in the world.”
9 – Dream Big & Under Promise, Over Deliver
Dream Big. Why not? Create your true desires. Go ahead. What do you really want? Refrain from sharing your dreams with people though. Sometimes, even close friends or family can be detrimental.
Negativity can breed doubt. Also, many of us have been in lack for far too long. So the thought of prosperity among those who desire to see others prosper and be happy makes us have a tendency to make promises we may not be able to keep. For this reason, you may not want to make promises.
And if you have already made some, revisit with the person you have made promises to and let them know you are unaware of how much you will be receiving, and all you can tell them at this time is that you will be thinking of them after revaluation. This then drops expectations and eliminates what might turn into disappointment and/or resentment.
10 – ‘When’ Means Revaluation Will Happen
In spite of what people may think, the idea of giving a date for revaluation is senseless. How many times has a date been given where it is DEFINITELY going to revalue and then it hasn’t?
This has not helped the situation at all. It has created disappointment and doubt and in some instances, people have committed suicide. Please STOP with the dates!!!
Even if you have good intentions, focusing on what has not happened and a date in the future is far worse than you think. This sets up the opposite of the desire.
Dream Big. Why not? Create your true desires. Go ahead. What do you really want? Refrain from sharing your dreams with people though. Sometimes, even close friends or family can be detrimental.
Negativity can breed doubt. Also, many of us have been in lack for far too long. So the thought of prosperity among those who desire to see others prosper and be happy makes us have a tendency to make promises we may not be able to keep. For this reason, you may not want to make promises.
And if you have already made some, revisit with the person you have made promises to and let them know you are unaware of how much you will be receiving, and all you can tell them at this time is that you will be thinking of them after revaluation. This then drops expectations and eliminates what might turn into disappointment and/or resentment.
10 – ‘When’ Means Revaluation Will Happen
In spite of what people may think, the idea of giving a date for revaluation is senseless. How many times has a date been given where it is DEFINITELY going to revalue and then it hasn’t?
This has not helped the situation at all. It has created disappointment and doubt and in some instances, people have committed suicide. Please STOP with the dates!!!
Even if you have good intentions, focusing on what has not happened and a date in the future is far worse than you think. This sets up the opposite of the desire.
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Allow me to use a pertinent analogy: About 10 years ago thousands of people across the U.S. and Canada were a part of group settlement case.
Depending on each person’s losses he/she was due to receive 1 of 3 kinds of payments. The amounts were given to each participant in ranges. The time of payment was estimated and it too was given in a range of 3 to 5 years |
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Allow me to use a pertinent analogy: About 10 years ago thousands of people across the U.S. and Canada were a part of group settlement case. Depending on each person’s losses he/she was due to receive 1 of 3 kinds of payments.
The amounts were given to each participant in ranges. The time of payment was estimated and it too was given in a range of 3 to 5 years
Now imagine for one moment that from the onset, there were on line forums about this settlement case. And each week, comments were posted, stories of what the lawyers said, or rumors floating around the company that the case was about, or worse a date being given for when the payments were going to be released. How disappointed would we have been since payments took 8 years! [7]
Thankfully there were no annoying forums like for the Dinar and Dong, and certainly no ‘next dates’ were given. Instead, most of us made tentative plans for when the money came, but essentially went about our lives.
The reason this is so serious is the frequency that is manifested with disappointment and doubt is very low. Both also are about lack. Lack and thinking you are without is also a low frequency.
On the other hand, prosperity and joy are a high frequency. You attract what you are!
So please, for sake of millions of people, including the Iraqi people, be the high frequency of prosperity and joy. Cease and desist with the ‘next date’, just knowing that when is when. It is will revalue. So be it!
http://ift.tt/1JZg78F
The amounts were given to each participant in ranges. The time of payment was estimated and it too was given in a range of 3 to 5 years
Now imagine for one moment that from the onset, there were on line forums about this settlement case. And each week, comments were posted, stories of what the lawyers said, or rumors floating around the company that the case was about, or worse a date being given for when the payments were going to be released. How disappointed would we have been since payments took 8 years! [7]
Thankfully there were no annoying forums like for the Dinar and Dong, and certainly no ‘next dates’ were given. Instead, most of us made tentative plans for when the money came, but essentially went about our lives.
The reason this is so serious is the frequency that is manifested with disappointment and doubt is very low. Both also are about lack. Lack and thinking you are without is also a low frequency.
On the other hand, prosperity and joy are a high frequency. You attract what you are!
So please, for sake of millions of people, including the Iraqi people, be the high frequency of prosperity and joy. Cease and desist with the ‘next date’, just knowing that when is when. It is will revalue. So be it!
http://ift.tt/1JZg78F
via Dinar Recaps - Our Blog http://ift.tt/1RvhpdN
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