larry143 Posted December 1, 2010 Report Share Posted December 1, 2010 I have been trying to figure out the new (to me anyway) system I just read about in Frank's CC with Ali of Dinar Trade, regarding their "safe keeping" program option. I think you send your physical dinar, Fedex, insured for the current face value, to DT. After receiving your dinar, they send you a receipt, deposit your dinar into your account I assume you have set up with them prior. Then at RV you contact them and they wire your new US dollars to your home account. Maybe they get your routing information prior and they send you, by wire, automatically at RV...I'm not certain. This way, hypothetically, you won't have to stress about getting to a bank or to a DT location (for me, 800 miles) to cash in. Does this sound feasible to you experienced hands? Does it sound safe and secure? Don't bash, but do we trust Ali and his bank at that point not to disappear? Would we have any assurances or guarantees? Look, I think this would be a marvelous way to cash out. At RV, I would love to have to worries about delarue machines, driving distances, on road and in bank security, time delay issues, deadline problems etc. I'm just leary about letting go of the dinar. Please let me know your thoughts and if I'm way out in left field. Thanks Link to comment Share on other sites More sharing options...
LUHRST32 Posted December 1, 2010 Report Share Posted December 1, 2010 The only question I would have is could you cash in somewhere else with no fee and a better spread. Adam has set up what should be the best rates for cashing in with three banks. To take advantage of this all you have to do is be a member of the VIP section. 1 1 Link to comment Share on other sites More sharing options...
larry143 Posted December 1, 2010 Author Report Share Posted December 1, 2010 I know I should check on that, you're right, and thank you Link to comment Share on other sites More sharing options...
Roscoboy007 Posted December 1, 2010 Report Share Posted December 1, 2010 I would not let mine out of my control. I purchased a safety deposit box in my bank for $50 for the year. I just feel safer. I do not know Adams program since it has not RV'd yet but Dinar Banker is $150 per transaction (no matter how much you have). Also I called them and they will send someone to me (or anyone for that matter) , you have to have 10M + to cash in. If you do not have that much you might have family or friends that you can set this up with. So instead of driving 8 hours to a location I will drive 20 minutes. I will wait to see what Adams program is though. You see - there is money being made off the back end for the brokers. They would not fly someone to me for $150. 1 Link to comment Share on other sites More sharing options...
SAG Posted December 1, 2010 Report Share Posted December 1, 2010 I would not let mine out of my control. I purchased a safety deposit box in my bank for $50 for the year. I just feel safer. I do not know Adams program since it has not RV'd yet but Dinar Banker is $150 per transaction (no matter how much you have). Also I called them and they will send someone to me (or anyone for that matter) , you have to have 10M + to cash in. If you do not have that much you might have family or friends that you can set this up with. So instead of driving 8 hours to a location I will drive 20 minutes. I will wait to see what Adams program is though. You see - there is money being made off the back end for the brokers. They would not fly someone to me for $150. Are you referring to DinarTrade? Dinarbanker has not stated any charge of $150 per million. Link to comment Share on other sites More sharing options...
Roscoboy007 Posted December 1, 2010 Report Share Posted December 1, 2010 No Dinar Trade is $150 per million and Dinar Banker is $150 per transaction Link to comment Share on other sites More sharing options...
blueskygal Posted December 1, 2010 Report Share Posted December 1, 2010 It is really no different than buying stock in street name (meaning you do not get your physicial certificate) and getting a statement from the broker/dealer - something you may have done many times over. So it boils down to HIS companies insurance for E&O/fire theft etc...I woudl imagine that would need to be spelled out on the certificate. Even then, things happen look at what happened when the money markets "broke the buck " and only gave I think 96 cents on the dollar - your house could burn down, your d's could be stolen - are you adequately protected against that? Most insurance policies do not insure massive amounts of cash against fire or theft etc. Just a thought Link to comment Share on other sites More sharing options...
SAG Posted December 1, 2010 Report Share Posted December 1, 2010 No Dinar Trade is $150 per million and Dinar Banker is $150 per transaction QUOTE Dinar Banker is $150 per transaction (no matter how much you have). Also I called them and they will send someone to me (or anyone for that matter) , you have to have 10M + to cash in. Roscoboy007, did you see this on his website or you were told this on the phone? I have not seen anything from dinarbanker regarding this cash in procedure. Is this new?. Link to comment Share on other sites More sharing options...
cbs71 Posted December 1, 2010 Report Share Posted December 1, 2010 QUOTE Dinar Banker is $150 per transaction (no matter how much you have). Also I called them and they will send someone to me (or anyone for that matter) , you have to have 10M + to cash in. Roscoboy007, did you see this on his website or you were told this on the phone? I have not seen anything from dinarbanker regarding this cash in procedure. Is this new?. Me neither. I brought this up with another person on a chat and I told him that I did not see anywhere on the DB site that states $150 per transaction. Either way, I will most likely drive to their Atlanta office to cash in. I bought from multiple sources, however in regards to DB, I will not be cashing in at a airport location. This is personal preference. I will have to call DB to verify the cashing in rate. Link to comment Share on other sites More sharing options...
carol060906 Posted December 1, 2010 Report Share Posted December 1, 2010 The only question I would have is could you cash in somewhere else with no fee and a better spread. Adam has set up what should be the best rates for cashing in with three banks. To take advantage of this all you have to do is be a member of the VIP section. Which costs us to JOIN !!! 1 1 Link to comment Share on other sites More sharing options...
Hank B. Posted December 1, 2010 Report Share Posted December 1, 2010 I think I heard that Ali will store your Dinar in his vault in Santa Monica. I don't recall any mention of setting up an account for your Dinar. You can send/fax your banking information to Dinar Trade and designate the amount you want to convert to USD. The "safe keeping" option is just that, not setting up an account with Dinar Trade. But I could be wrong. If your still conflicted/confused visit the site and look for the Safe Keeping tab on the left site of the home page. Link to comment Share on other sites More sharing options...
Raw Posted December 1, 2010 Report Share Posted December 1, 2010 The CBI sets the rate. The banks/dealers will add their own rates on top of CBI. Adam had been able to negotiate the best spread because of the amount of VIP members he will bring to the table..... 1 1 Link to comment Share on other sites More sharing options...
larry143 Posted December 1, 2010 Author Report Share Posted December 1, 2010 Thanks for all the input, I still need to do my due dilligence. I may call DT tomorrow and get the details. I'll report after. Thanks again Link to comment Share on other sites More sharing options...
TomballDinar Posted December 1, 2010 Report Share Posted December 1, 2010 1. See this link for reference to the $150/transaction. 2. I think the "Safe Keeping" option is a brilliant tactic by Ali. He is basically "insured" you will cash in with him. Personnally, I aint letting my dinars out of my sight (safety dep box)!!! With both VIP and DinarBanker options available, I will probably not going to need DinarTrade. Link to comment Share on other sites More sharing options...
SAG Posted December 1, 2010 Report Share Posted December 1, 2010 (edited) The CBI sets the rate. The banks/dealers will add their own rates on top of CBI. Adam had been able to negotiate the best spread because of the amount of VIP members he will bring to the table..... I don't know how Adam is able to do this when the CBI has not set their buy and sell rates. Banks can't tell you the spread when they don't know what it will be. Frankly I find this hard to believe. DT and DB have both said they will give us the rate of the CBI. Any bank that says now they will have a better buy rate then the CBI is implying they are willing to loose money. The buy rate could be as much as half of the sell rate for the first few days or weeks. . 1. See this link for reference to the $150/transaction. 2. I think the "Safe Keeping" option is a brilliant tactic by Ali. He is basically "insured" you will cash in with him. Personnally, I aint letting my dinars out of my sight (safety dep box)!!! With both VIP and DinarBanker options available, I will probably not going to need DinarTrade. Thankyou for the link. Somehow I missed the $150 per transaction. He has also stated he can multiple wire transfers to multiple accounts which DT will not do. Edited December 1, 2010 by SAG 2 1 Link to comment Share on other sites More sharing options...
BW3 Posted December 1, 2010 Report Share Posted December 1, 2010 I am using the "Safe Keeping" ONLY for my IRA with Entrust of my invested Dinars. All other Dinar "cash in hand" is in my safe at home... It was easier, so (my hands dont touch it) and it is not taxable in my IRA (no co-mingling here),,,, UNTIL I TAKE IT OUT of my IRA account Also, it would be super easy to have DinarTrade, change them into smaller denoms, if I so choose, and keep playing the game... I have heard that Ali has an appointment with CBI, the Dec. 15th about setting up his private bank in Iraq, which has been his goal from day 1. Hope this helps! GO RV!! Link to comment Share on other sites More sharing options...
debbieb40 Posted December 1, 2010 Report Share Posted December 1, 2010 Good evening BW3 I wish to know some more about Entrust. How is it that you are able to have the dinar in IRA Entrust and pay the taxes when the money is pulled out? I was planning pay the taxes on my dinar then put it in a IRA. What can I do to have your plan please help thank you debbie Link to comment Share on other sites More sharing options...
Triple xXx Posted December 2, 2010 Report Share Posted December 2, 2010 I have been trying to figure out the new (to me anyway) system I just read about in Frank's CC with Ali of Dinar Trade, regarding their "safe keeping" program option. I think you send your physical dinar, Fedex, insured for the current face value, to DT. After receiving your dinar, they send you a receipt, deposit your dinar into your account I assume you have set up with them prior. Then at RV you contact them and they wire your new US dollars to your home account. Maybe they get your routing information prior and they send you, by wire, automatically at RV...I'm not certain. This way, hypothetically, you won't have to stress about getting to a bank or to a DT location (for me, 800 miles) to cash in. Does this sound feasible to you experienced hands? Does it sound safe and secure? Don't bash, but do we trust Ali and his bank at that point not to disappear? Would we have any assurances or guarantees? Look, I think this would be a marvelous way to cash out. At RV, I would love to have to worries about delarue machines, driving distances, on road and in bank security, time delay issues, deadline problems etc. I'm just leary about letting go of the dinar. Please let me know your thoughts and if I'm way out in left field. Thanks Would you really trust that? I wouldn't! Get a safe deposit box and call it a day!!!! 1 Link to comment Share on other sites More sharing options...
larry143 Posted December 2, 2010 Author Report Share Posted December 2, 2010 I'm not familiar with Dinar Banker. Will they cash in if you didn't buy there and do they have multiple locations? Link to comment Share on other sites More sharing options...
SAG Posted December 2, 2010 Report Share Posted December 2, 2010 I'm not familiar with Dinar Banker. Will they cash in if you didn't buy there and do they have multiple locations? Yes check out their site. They will be at airport locations across US, Canada and Puerto Rico. Link to comment Share on other sites More sharing options...
Triple xXx Posted December 2, 2010 Report Share Posted December 2, 2010 I'm not familiar with Dinar Banker. Will they cash in if you didn't buy there and do they have multiple locations? Dinar Banker is very good! You may need to call them....They are very responsive, answer the phone on weekend and after hours, and even return missed calls on the caller ID. 1 Link to comment Share on other sites More sharing options...
joe liberst Posted December 2, 2010 Report Share Posted December 2, 2010 The CBI sets the rate. The banks/dealers will add their own rates on top of CBI. Adam had been able to negotiate the best spread because of the amount of VIP members he will bring to the table..... If the CBI sets the rate and that is the rate DTrade and DBanker are using, how can Adam possibly beat it? Any bank that buys dinars for more than the CBI rate will be lossing money. Also, since we don't know the rate, I really doubt banks will negotiate the spread much. 2 Link to comment Share on other sites More sharing options...
larry143 Posted December 2, 2010 Author Report Share Posted December 2, 2010 SAG and XXX thanks for the info on Dinar Banker, That's a pretty good referral. Plan on calling them soon. I imagine we are all looking for the closest, safest, quickest and cost effective way of making this important transaction. ConcerningRoth IRA: If I had earned income, I would try to use this vehicle as a HUGE "tax saving" plan. Putting in up to $5000 (because I'm over 50), money already paid taxes on (this has no deduction on Tax Form) Then ALL earnings on that investment are tax FREE.....forever. That's the benefit of ROTH IRAs I'm sure you all knew this but I was compelled to share anyway. Thanks PS I just don't know the process of depositing foreign funds into a ROTH I'm sure someone on here will. Link to comment Share on other sites More sharing options...
BW3 Posted December 21, 2010 Report Share Posted December 21, 2010 Good evening BW3 I wish to know some more about Entrust. How is it that you are able to have the dinar in IRA Entrust and pay the taxes when the money is pulled out? I was planning pay the taxes on my dinar then put it in a IRA. What can I do to have your plan please help thank you debbie HI DEBBIE, sorry for late response I just saw your question.. I have the funds ALREADY from a 401k, that I am allowed to pull from and I took only SOME of my 401k earnings, (submitted all the requests and forms to Entrust and my current 401k company), and had Entrust, (With my new account), request the IQD from Ali (D Trade Inc.) I NEVER TOUCHED any of the money & I wont, UNTIL I TAKE it out from Entrust! THEN, I ended up having Ali keep THAT part of my Investment, in the "Safe Keeping" program!!! HOPE THAT HELPS!!! Link to comment Share on other sites More sharing options...
Captjohn Posted December 21, 2010 Report Share Posted December 21, 2010 I have been trying to figure out the new (to me anyway) system I just read about in Frank's CC with Ali of Dinar Trade, regarding their "safe keeping" program option. I think you send your physical dinar, Fedex, insured for the current face value, to DT. After receiving your dinar, they send you a receipt, deposit your dinar into your account I assume you have set up with them prior. Then at RV you contact them and they wire your new US dollars to your home account. Maybe they get your routing information prior and they send you, by wire, automatically at RV...I'm not certain. This way, hypothetically, you won't have to stress about getting to a bank or to a DT location (for me, 800 miles) to cash in. Does this sound feasible to you experienced hands? Does it sound safe and secure? Don't bash, but do we trust Ali and his bank at that point not to disappear? Would we have any assurances or guarantees? Look, I think this would be a marvelous way to cash out. At RV, I would love to have to worries about delarue machines, driving distances, on road and in bank security, time delay issues, deadline problems etc. I'm just leary about letting go of the dinar. Please let me know your thoughts and if I'm way out in left field. Thanks I will not let my dinar out of my sight. Have chosen to exchange through Dinar Trade, but will carry with me and watch them authenticate right in front of me. Just me. Link to comment Share on other sites More sharing options...
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