IMPORTANT THOUGHTS ABOUT CASHING IN and Updates‏

[prosperityclub]

That is correct he has opened an Account with RBC but do not know any specifics.

EXACTLY!!!!!!!

EXACTLY!!!!!!!

Thank you so much, SAG!!

[Yogi-Donnie]

Im no banking expert, but I thought banks could only charge between 2%-8% for a spread. Where are people getting the 20% or am I mis-informed?

[SimoneC777]

I suspect that Ali is charging $150 per million PLUS the CBI spread.... no one knows what the spread will be. At first, the spread will probably be high and go down quickly. Just my thoughts.

For your information, Ali does not have a spread. He is charging a flat $150.00. The minimum he will cash in is $100,000.00 and it will still be the same as if it was a Million. The rate he will be the same as the CBI. Hope this helps.

[ReturnToGod]

And if you are fortunate enough to have, for example, $10 million after dinar exchange and ledger to ledger transfer into your BOA account. At that moment you are way above the FDIC limit of $250,000 for insurance coverage. You must get your funds above $250K out of your account and move into other accounts to keep them safe. You may want to look into the CDARS program which can cover amounts into the millions (www.cdars.com). Hope this is helpful. GO RV.

The correct URL is www.cdars.net

[hspotman]

Im no banking expert, but I thought banks could only charge between 2%-8% for a spread. Where are people getting the 20% or am I mis-informed?

I posted this in another thread, but will here as well. My client who I worked on yesterday, is a broker, and is pretty well off financially. I posed this question to him yesterday, and he said that when a bank charges 20%-30%, it is most likely for smaller amounts. If we are exchanging in for millions of US $$, then it will most likely be a 2%-5% spread, maybe 8%. I would imagine you can work out a good spread with them so that they can keep your $$ in their bank. I have been with BofA for over 20 years now, so I think/hope they will give me some leverage.

As per Ali only charging $150 per million or however much you cash in, I still think that is pure BS unless someone can provide a link that states this. Do you really think he is going to plan on making only.....say 1000 people cash in with DT,each person has an average of 10 million(generous estimate IMO),1,000 x 10 million equals 10,000,000 10,000 x $150 equals 1,500,000. That's only $1.5 mil total for EVERYONE that cashes in through him, which alot won't because of time delays with so many people doing it. Granted, 1000 people is just an estimate,and it may be a low estimate, but it balances out with the generous estimate of an average of 10 mil dinar per person, IMO. I would think that Ali would have planned on making MILLION(S) if not BILLION([b]S[/b]) through his shops for the IQD. I don't think the amount he sold can balance that (only $150 per million) number out either. Just doesn't make sense on paper.

OOPS, wrong math, let me do that again,lol........ok, he would make 1.5 billion.....maybe he CAN afford to do this..... , I still don't buy it though. Link please

This whole thing is obviously beginning to fry my brain....I used to be good at math........lol

Edited November 12, 2010 by hspotman

[Stefanie]

How do you join Adams VIP Group?

http://dinarnews.net/benefits/

[sarasota]

i called dinar trade and dinar banker. they both said they would accept any dinar purchased from other sources. that you didnt have to buy from them.

[Kristi]

You can request Dinar Trade's cash in guide to be sent to your e-mail by accessing the Dinar Trade website and going down the right hand column to Dinar Cash-in Procedure.

This guide clearly states what you will be charged.

http://www.dinartrade.com/

[SAG]

I posted this in another thread, but will here as well. My client who I worked on yesterday, is a broker, and is pretty well off financially. I posed this question to him yesterday, and he said that when a bank charges 20%-30%, it is most likely for smaller amounts. If we are exchanging in for millions of US $$, then it will most likely be a 2%-5% spread, maybe 8%. I would imagine you can work out a good spread with them so that they can keep your $$ in their bank. I have been with BofA for over 20 years now, so I think/hope they will give me some leverage.

As per Ali only charging $150 per million or however much you cash in, I still think that is pure BS unless someone can provide a link that states this. Do you really think he is going to plan on making only.....say 1000 people cash in with DT,each person has an average of 10 million(generous estimate IMO),1,000 x 10 million equals 10,000,000 10,000 x $150 equals 1,500,000. That's only $1.5 mil total for EVERYONE that cashes in through him, which alot won't because of time delays with so many people doing it. Granted, 1000 people is just an estimate,and it may be a low estimate, but it balances out with the generous estimate of an average of 10 mil dinar per person, IMO. I would think that Ali would have planned on making MILLION(S) if not BILLION([b]S[/b]) through his shops for the IQD. I don't think the amount he sold can balance that (only $150 per million) number out either. Just doesn't make sense on paper.

OOPS, wrong math, let me do that again,lol........ok, he would make 1.5 billion.....maybe he CAN afford to do this..... , I still don't buy it though. Link please

This whole thing is obviously beginning to fry my brain....I used to be good at math........lol

LOL you have a client.....LOL I hope you don't do accounting for him.

[BiGGI3]

Thanks Stefanie

[hspotman]

LOL you have a client.....LOL I hope you don't do accounting for him.

Lol, I don't think he would want me to right now either after that calculated muff-up

[TBnhispower]

I suspect that Ali is charging $150 per million PLUS the CBI spread.... no one knows what the spread will be. At first, the spread will probably be high and go down quickly. Just my thoughts.

No, he has made it clear that there will be no spread. Whatever CBI charges is what he will charge + $150 per million.

[hspotman]

No, he has made it clear that there will be no spread. Whatever CBI charges is what he will charge + $150 per million.

Then....is what CBI charges and what Ali will charge a % of the amount cashed in? Wouldn't that be similar to a spread?

[prosperityclub]

I was wondering if you would let me know if Ali is indeed using a Canadian bank and which one that might be.

Wizard

Hello Wizard1,

I received a reply back from Ali today, and he told me that they will be using the Royal Bank of Canada. I tried to send you a PM, but I don't know how to do it.

prosperityclub

[J.C.]

I didn't buy my dinars from Ali, so that leaves a lot of people without this option. But, I believe Ali will be charging a "spread" charge also.

Ali is NOT charging a spread, but a flat $150 per million. This was conformed by the requested info on his site, and via phone call to the Santa Monica office yesterday.

[Sweetness]

Ali is NOT charging a spread, but a flat $150 per million. This was conformed by the requested info on his site, and via phone call to the Santa Monica office yesterday.

Ok maybe someone could explain this to me... This is what Im getting. Ali will not be charging a spread... But the CBI will. And thats what we will get nailed with if we go through Ali? If we cash in with Adam's VIP group we will not get hit with the bank spread here in the states only the CBI spread? So regardless if we cash in with Ali or Adam's VIP group we will still be charged the CBI spread correct? So really all we will only be saving is $150 per million dinar with going through Adam's VIP group?

Edited November 13, 2010 by Sweetness

[bikertrash]

Is this confusing or what?

[BtrFuture4All]

Sweetness asks?... if we cash in with Ali or Adam's VIP group we will still be charged the CBI spread correct?

Sweetness, where do you get that CBI is going to charge a spread? Did you read that somewhere on DinarVets? or in the news? or at CBI site? Link please. Thanks.

[Tammi :)]

Is it correct that Ali has an account with the Royal Bank of Canada? I'm from Canada. I read in his cash- in procedures, that one of the locations to open when the RV is announced would be Vancouver, B.C. and this would be about a 45 mins drive for me from where I am. I would prefer to go with Ali, it's either him or my bank, or deal with a completely new bank.

Yes Ali is dealing with the royal Bank in Canada...I have personally verified it with him.

[Sweetness]

Sweetness, where do you get that CBI is going to charge a spread? Did you read that somewhere on DinarVets? or in the news? or at CBI site? Link please. Thanks.

Solutions,

Below is copied and pasted from the website. I tried putting a link up but the forum is telling me that I have a link to a website that the adminstrator doesnt allow... so sorry no can do.

All,

Just to let you all know, and to clear some apparent confusion about some claiming that Dinar Trade will impose a “SPREAD” upon cash in, here’s the truth on the subject.

Dinar Trade itself will charge ZERO spread upon cash-in. The ONLY cost to do business with Dinar Trade when you cash in your Dinars is $150 per million Dinars or $150 per fractions of Dinars (smallest amount and largest amount you will pay to cash in with Dinar Trade)… period.

The CBI does have its OWN spread that Dinar Trade and EVERY OTHER dealer, bank, clearing house, or exchange counter MUST honor. So, from that perspective EVERYONE most pay a “spread”, but Dinar Trade will not be charging a spread on top of that. Here’s a simple breakdown of a cash-in scenario with Ali and Dinar Trade:

CBI RATES: When you hear the Dinar has “RV’d”, you will hear a “RATE”. This is in actuality INCORRECT. There will actually hear TWO RATES… The “ASK”, which is what the CBI is willing to SELL IQD for, and the “BID” which is what the CBI is willing to BUY IQD for. Other terms used to describe these two rates are the “OFFER” and “SELL”. The point in this is to let you know that there is NEVER just one rate. There are ALWAYS two rates, and the CBI is the central source that SETS the market rate. From there, banks, dealers and exchange counters can then create their OWN rates from the basis points set by the CBI.

Edited November 13, 2010 by Sweetness

[Bocadinar]

Is this confusing or what?

It's really pretty simple, here arew the steps

1. support those that have given you a platform to learn about this investment and Join the VIP group

2. Be patient and have some faith.

3. When you get the email from Adam, dance in the street, and follow his instructions.

[BtrFuture4All]

Thanks for your response Sweetness. I suppose I still do not understand this completely. I knew we would be paying a bank spread but I thought that was over and above the rate set by CBI. Now according to the underlined part of the article, it appears there are two spreads if you purchase through a bank, but I suppose I was *ssuming we as investors had no control over the rate set by the CBI whereas we can negotiate with different banks on their spread. I suppose it will become more clear when it is time for me to cash in... I just need to understand the right questions to ask at the varous banks to determine if I need to make a trip to cash in at a DinarTrade site or go with bank that offers best spread. Also those who joined Adam as a VIP will have a certificate for special rate. Hopefully someone will jump on and give a clear example. Appreciate your research and feedback.

[Sweetness]

No problem Solutions. Now I just hope someone can help make sense of all this.

Edited November 13, 2010 by Sweetness

[buffalowade1]

Ali is NOT charging a spread, but a flat $150 per million. This was conformed by the requested info on his site, and via phone call to the Santa Monica office yesterday.

I perfer to cash in at my local bank. I will gladly pay the 2-4% spread. Very unlikely any bank will charge more than 8% most will charge between 2% & 4% Plus rate. I bought enough dinars to cover fees & taxes based on RV of 1USD to 1IQD . So if this goes very well and this investment revalues over $3.00 which I expect will happen very soon, I'll be a very rich man regardless of fees and taxes that will be paid. My advice is to buy enough dinars to cover your fees and taxes. Kinda like insurance. Make sense people?

[dadonine]

I perfer to cash in at my local bank. I will gladly pay the 2-4% spread. Very unlikely any bank will charge more than 8% most will charge between 2% & 4% Plus rate. I bought enough dinars to cover fees & taxes based on RV of 1USD to 1IQD . So if this goes very well and this investment revalues over $3.00 which I expect will happen very soon, I'll be a very rich man regardless of fees and taxes that will be paid. My advice is to buy enough dinars to cover your fees and taxes. Kinda like insurance. Make sense people?

WOW! Do you realize that 2% of a million US dollars is $20,000??? And should the RV come out higher, say 3 US dollars for every 1 dinar, that 2% would be $60,000 per million at exchange/cash-in!

Personally, I'd rather pay the flat $150. fee than 1 or 2 or 4% at a local bank!!! But that's just me...

Blessings On YOU AL