Conference call with Okie, Blondie & Texas Snake: 2-9-2020
SaltyToes: We have a gofundme account set up for all who wish to contribute to Okies medical treatments.
Okie: Thanks to everyone for your help and your prayers……I am a firm believer in the power of prayer. In Nov. when I was first given assistance…that’s the month I died and was brought back by the grace of God. Thanks for all your prayers and will do my best to help on this ride we are taking.
Okie: Tonight may be interesting and tomorrow may really be interesting….A Zurich contact that I had said Tues, Wed may finally be our time……As I understand it tonight and tomorrow morning there is a possibility (key word) we may get 800 numbers . That is the last I got from “The source” who has the authority to make this happen.
Snake: My intel is similar …..My senior banker source at WF who is in charge of Exchange centers for 5 states including Texas. He is in charge of training for employees on Wells Fargo and specialists with Abbot Downing investment banking branch.. He feels very confident that late today or early tomorrow we may get our emails from Wells Fargo and 800 numbers for a start on Tuesday .
Caller Do we need to do paperwork if we are over 70? Can we just get the lowest rate? Do we have to have a project?
Okie: Anyone who exchanges or redeems will have to sign at least a minimum nda depending on how much you exchange. Example: The more Zim you have the greater your NDA requirements will be. The projects are the justification for you getting the highest rates. The banks should have projects available if you wish to team up on them on if you want.
Snake: Unless you are going with a major project I think you can exchange with just a picture ID for whatever the street rate will be.
Caller: I hear we can redeem Zim at a military base or a local bank branch
Snake : I have heard it both ways. If Zim is all you have maybe you can go to a military base. Okie do you know?
Okie: My understanding is there is a military option for redeeming Zim and just last week we hear Tier 1 banks will all be able to redeem them as well…..we will wait until we have all the final proceedures to know for sure.
Snake : There will be some exchange centers not in banking facilities…usually in the larger towns
Caller: Can you tell us more about Abbot Downing? How much do we need to qualify to do business there?
Snake : I am not sure what the threshold is of how much you need to use Abbot Downing . I have heard 50 million dollars.
Blondie: That is what I heard.
Snake: They are a good firm. There are several good firms . its important to get with a good investment banker …one with a fiduciary behind his name…..Someone that has your best interest in mind for many years to come. If you exchange with WF- they will have Abbot Downing Reps there so you can schedule an appointment with them . They will want to know what you want to do in the future….your goals and objectives for the rest of your lives. Its important to pick someone for you to have a good professional relationship with. (Be sure to listen to the full description of investment products available)
Caller: My question is about the NDA. Do we know yet about it…I am worried about my nosy friends asking questions.
Snake: The biggest issue I have heard about the NDA is you do not disclose the rates you received for 3 months, 6 months , a year or with no end……..we do not know yet. All you need to say to people is that you are limited in what you are allowed to say…..
Okie: All you have to say is you made an off shore investment in the oil trade……that is the truth because China has the oil trade with Iraq……and their currency is based on the value of what oil is……so your off shore investment is based on what the value of oil is in a foreign country…..that should suffice.
Caller: About projects in regard to Zim rates. . Are we still hearing it could be 33 million per 100T note with projects
Okie: I understand that your rate may be contingent on the type of projects you will be doing…if you have a large project you may get a large rate…..…it is also my understanding that a limit of 33 million per 100 trillion note is being talked about. …..it was still being talked about as of yesterday in fact . There is a rumor from a Chinese contact that they have an designated amount of Zim they will allowed to take. Be sure to get in as quick as you can with your Zim so that you do not fall into the “dead letter” category and miss your opportunity…Do not wait for weeks to get in with your Zim. .
Caller: When I exchange I don’t have a trust…what do I do? What kind of account do I exchange into?
Okie: They will set you up a temporary trust that will be good for 6 months to give you time to get your own trust(s) .It will give you control until you get a trust of your won.
Snake: And that trust is revocable…….it can be changed if you wish. They will also do a financial questionnaire and help you with a financial plan. Just get their ideas and stay in control of your money, Also Put it in a Non interest bearing account so it’s not taxed . Everything I own will be in a trust and not owned personally.
Okie: New IRS Anology….”We’ve got what it takes to get all that you’ve got” IRS now means “Internal Robbery Squad”
Caller: Are we redeeming or exchanging Zim? Will zim be taxed?
Okie: we are redeeming the Zim ….They are Gold Bond Certificates. Currency is an exchange. We do not know about Zim tax implications as of yet.
Caller: I am an American National and I do not want to sign an NDA…I plan on bringing a notary and recording the transaction.
Okie: The NDA is because they do not want the average American to know how little they could have invested to get so much back…If everyone found out….there would be all kind of protests. The bank will provide notary’s and it’s my understanding that phones and recording devices will not be allowed.
Caller: Can we go with family members to help them at their appointments?
Okie: I hear that you could….but, it’s my understanding that everyone at the exchange will have to sign an NDA.
Snake: If you have a limited power of attorney with who you are helping… it will allow you to attend their exchange appointment
Caller: Do we have to have receipts where we purchased our currency ?
Okie: You do not have to bring proof of purchase…..just bring your currency. People are complicating what should be a simple appointment. If you have currency they will not ask you where you got it….they will just redeem it.
Snake: Now for taxes – receipts and the date you purchased your currency….may make a difference if it’s a long or short term investment. For capital gains.
Okie: Its my understanding this is not a taxable event.
Snake: That’s what I understand as well…..but pays to be prepared.
Okie : The Zim may be taxable as it’s a Gold Bond redemption…..that has not been made clear to us as of yet.
Okie: I hear many people saying they want to fly to Hawaii after the RV…my advice is to take a boat. There are more planes at the bottom of the sea then there are boats in the sky…lol
Caller: We have heard if you are 70 or above you do not need a project to redeem the Zim.
Okie: Everyone will qualify for the international/street rate whether you have a project or not.
Snake: Ask you bank if they have projects or humanitarian projects available that if you want to qualify for a higher rate you and could donate to these projects…they may have some available.
Caller: I heard you don’t want to put more than $500,000 in an account?
Okie: You may be talking about the wire-line transfer on the first day.
Snake: That depends on the rate and how much you have.
Snake: I don’t plan on leaving big amounts in the bank…but to start we all have to do it that way.
Example: Say you have 10 million you can set up trusts and foundations and distribute it in other accounts. If you put it in an interest bearing account they can mingle your funds with the Federal reserve and loan it out to other people. ……. If you put it in a non- interest bearing account – they cannot do that. But they will not let you keep huge amounts in a non- interest bearing account for very long…imo set up a temporary account as Okie had said ….then work with your wealth managers and investment bankers ect…..During this time….the banks can give you a letter of credit for any purchase you want to make.
Okie: Even though we are told this is a not taxable event…..Because we do not know of the exact tax requirements it is still good advice to open a separate account with each currency……Just in case some is taxed like the Zim may be
Okie: There may be 2 % fee taken off the top of this exchange given to the US Treasury . The banks may also try to charge you ½ of 1% out of you for this transaction. If you plan on leaving your money in this bank you tell them you do not feel comfortable paying them that fee to hold your money . You can negotiate that half of a percent out of existence….that may be a big amount.
Caller: Does anyone know about how we insure our funds after we exchange? Do we go to Lloyd of London?
Snake. That’s one option. You can also go to brokerage money market accounts and each account should have a separate insurance policy. It’s best to talk this over with the bank. Ask them the best way to structure accounts so all your funds are insured.
Okie: Since we are going to be exchanging into digital currency backed by gold and silver. I would think that whatever bank you put it into would be the Guarantur….. It will now be asset backed in a digital form ….. and your funds should all be safe with the QFS.
Snake: There may be a transition period of 6 months to a year to get it all accomplished. but that is very true.
Blondie: : And Trump nominated Judy Shelton to the Federal Reserve.
Okie: Judy Shelton has been orchestrating all of this from behind the curtain all along…. Imo
Caller: I had heard conflicting info about exchanging into a WF skeleton trust. Is there any reason not to trust the temporary skeleton trust at the banks that we exchange into at our exchange? Can we exchange into non interest bearing accounts first and then move to trusts? Or do you advise against this?
Snake: There are a lot of unknowns in the tax structure on putting it into your own name…Your bank accounts and what you put into them will be the basis of your exchange values. I wish we knew what or if the new tax laws will be….Okie says this will be a non-taxable event so the currency wont be taxable. If you don’t earn interest you will not pay taxes on it.
Caller What about the nominee accounts?
Snake: A nominee account is an account not in your name. and non interest bearing is the way to go.
Okie: I understand it’s a requirement of the exchange ….It is my understanding when we exchange they will only put funds in a revocable trust at first.
Snake: All the trusts at the bank are approved and pre-determined by the IRS under the laws of the state you live in….Be sure it’s a revocable trust that you can change it….. As Okie says set up a temporary revocable trust when you exchange and they set up your lawyers, wealth managers ect, other trusts ect……during this time . When you transfer funds from your temporary trust to your new trusts and accounts….have the bank do it…do not do it yourself.
Caller: With the temporary trust can you still spend it- have “walking around “ money ect??
Snake: Sure: I would suggest not to take out more than $9000 at a time so you don’t trigger any investigations that could freeze your accounts. You could have certified checks written to anyone yu want as well. Very few bankers will have access to any of your accounts…..tellers will not…..only bank officers. And this if for your protection. The bank will give you letters of credit based on your account balances for any purchases you want while you are setting things up.
Caller: I understand there will only be a few banks exchanging Zim.
Okie: Most all the banks will have rates that are comparable and competitive. …..they do not want people going one place and exchange a bit then buying more currency and going somewhere else. That’s double dipping.
Okie: People seem to be worried about what they are going to do at once after they exchange…day 1 and day 2……. I think people should take your time …don’t be in a big hurry…this is a long term thing….take your time and do not rush. …do your exchange and then meet with your advisors and lawyers and map out everything you need to do. .
Okie: I enjoyed being on this call….wish I had enough air to talk longer. Snake has great information….hook your wagon to his star and you won’t go wrong. When this RV’s I plan on paying it forward from all who have helped me.
Snake: God Bless Okie…and thanks Saltytoes for helping us get the go fund me set up for Okie.
Blondie: Hopefully we will be hitting the banks this week!!
Be sure to listen to the full replay for the full Q &A and all the information regarding trusts, accounts, taxes and more……
Replay number: 712-770-5066 Access Code: 648989#
From MarkZ’s site: THANK YOU, SNAKE, PLANNING QUESTIONNAIRE: https://www.mmbb.org/docs/FinancialPlanningQuestionnaire.pdf
Originalmark Zteam Community help for Okie Health update for Okie needing more treatments.He needs prayers and a hand upThank you everyone