The Big Call Thanksgiving Evening
PinkRoses: Bruce: special Thanksgiving call night
PinkRoses: Bruce call: an hour or so call, short call
Plogania: Bruce: Praying
pinkroses : Bruce call: Bruce speaking plans and goals
ploganea : Bruce: lifting up areas of world dealing with persecution
PinkRoses: Bruce call: Bruce Praying now
GizmosMom: FAMILY please pray for kim clement, he was rushed to the hospital today with another brain bleed
PinkRoses:Bruce call: Intel now
Ploganea: Bruce: Believes we are in a excellent position…. Bruce: some confirmations, some indications that we are in a completed stage
Ploganea: Bruce: Believes notifications are right around the corner, in place and rolling out according to master plan
Zebragirl: Bruce believes our notifications are right around the corner and everything is in place and rolling out according to the master plan already and that our friends over in the Far East are happy with the progress being/been made……And everything is rolling out as intended.
pinkroses : Bruce call: The way we are going right now, we are in an excellent position. I am hearing different things. Some of them are confirmations, some are indications that things have occured. lets believe we are in a completed stage. I believe we are in a stage the notifications are just around the corner. EVerything is in place and rolling out in the master plan already. People in far east plans been made and rolling out as it was intended.
PinkRoses: Bruce call: we should have extrememly good market rates. Cant go into them this late stage. The indications of announcements right around the corner. That being said, everyone can rest and enjoy this holiday and weekend. I believe we about to have an excellent weekend.
Ploganea: Bruce: Middle east happy with progress being made. We should have extremely good market rate. Can’t tell you what amount. Can’t talk about all. Announcements are right around the corner. Awaiting notirication.
Ploganea: Bruce: Will talk about exchange process.
PinkRoses: Bruce call: Bruce getting ready for Q and A
Ploganea: Bruce: Q & A first caller wants to know about trusts. Doesn’t have one yet. Can we exchange then get our trust. Bruce says yes.
PinkRoses: Bruce: some have structure, like trust have currency in already. But majority of us will exchange into an account and as soon as we can put all in proper structure with trust attorney, asset management people will direct you to set up one or more trusts.
Plogaea: Bruce: Appt between 20 and 40 minutes in general. Counting, verifying and if Delarue machine, faster…. Then set appt for wealth manager.
PinkRoses: Bruce: with the groups, appts with 20 mins. The exchange process dont take that long, it verifying, account set up, then set up appt for return visit with a wealth manger and put it together, then smooth sailing after that
Plogaea: Bruce: Caller thanks and Happy Thanksgiving
PinkRoses: Bruce call: caller: do we know anything yet about taxes?
PinkRoses: Bruce: the reality is I am hearing the last year or two is that those in group have a tax rate that may help them in taxes. If exchanging with market rate i believe those tax free exchange. The contract rates may or may not be taxed. Find out at time of exchange what the deal is, be prepared in case a taxable event. I dont belive it will be taxed.
Ploganea: Bruce: Q: Do we know anything about taxes? Bruce: Reality is that we are hearing groups have tax treaty but bank rate may be tax free. Contract may or may not be taxable. (Bruce’s opinion)
PinkRoses: : Bruce: contract rate only on the dinar? Maybe on the dong as well. In last few days, rates on both will be high enough that contract may not be a big deal.
Ploganea: Bruce: I think we ought to look at contract rate on dong as well. what i hear last few days, the rates on dinar and dong high enough where the contract rate might not be a big deal.
PinkRoses: bruce: a lot higher rate than what we thought it be.
Ploganea: Bruce: Says we have rounded first, ready to slide into home plate
PinkRoses: Bruce caller: appreciation for guest speaker
Pinkroses : Bruce call: We have rounded third, and just about to hit home plate, dont have to slide
Ploganea: Bruce: Q about Zim, is there a limit by entity? Yes could have more than one trust.
PinkRoses: Bruce: Yes, you can have more than one trust. The wealth managers at WF will be able to set us up with trusts and LLC. If you are to exceed the limit of 1 billion of USD with exchanging the ZIM, think in terms of multiple trust or possibly another entity. But go with recommendation of those there if you need advice.
Ploganea: Bruce: Not advising. Just pointing people in the direction to ask the right direction. Limit 1 billion. If exceed may want multiple trust. Ask bank advisor at exchange.
PinkRoses: Bruce: most of us need advice. possibly, remember I am not a cpa, attorney and dont play one on Tv. I believe you can look into that scenerio and have different trusts with same name. just my opinion, but ask if you can.
PinkRoses: Bruce caller: foundations would have to be or could be multiple family foundations? Bruce: could be one in one family name and one in another family name.
Ploganea: Bruce: Regarding foundations, there is a public and family. Could you cash in Zim in different family names? Believes yes.
Plaganea: Bruce: Q: Can you go into the machine and verification process? Explains Delarue machine to verify and count money. Also hooked up to laptop computers to record and scan the notes.
Ploganea: Bruce: Q: Can you go into the machine and verification process? Explains Delarue machine to verify and count money. Also hooked up to laptop computers to record and scan the notes.
PinkRoses: Bruce: they will be used to count and verify the transaction. they will be set up in the exchange location. quick process
PinkRoses: Bruce caller: copies made of the currency? Bruce: some have done it, there is no way I could do that. in the old days if we had to ship off our currency. I dont see that be a problem. we should count authenticate and verify the currency on the spot
Ploganea: Bruce: Verification will be quick. How about copies? That is old news. Bruce says it would take forever. Doesn’t believe it is needed. Old process was to ship off currency but exchange centers will count exchange and verify at the location
PinkRoses: Bruce caller: we looking good? Bruce: We are looking really good.
Ploganea: Bruce: Thought we would have celebration call. We are having a partial celebration call.
PinkRoses: Bruce caller: my understand the IMF is wanting this done by the 30? Bruce: yes before that
PinkRoses: Bruce caller: because they going to announce china being main currency?
Bruce; yes, that should occur the 29th, late late late at night
Ploganea: Bruce: IMF wants is done by the 30th, correct? Bruce, yes because they are going to acknowledge China as one of the reserve currencies. will be announced by late at night on the 29th.
PinkRoses: Bruce caller: big fish on call. chit chat
PinkRoses: bruce caller: this is a grand slam. I cant wait to walk across home plate.
PinkRoses: Bruce: as you know this thing right upon us. WE are literally steps away from it.
Plogania: Bruce: The RV is right upon us
PinkRoses: Bruce caller: when we go to the bank, if we go over the 1 billion cap on zim, and dont want the 50 year payout what i do? Bruce; not heard anything official about it, not a believer in it. if you believe you going to exceed that limit, if wish to do some gifting, do it now. my recommendation is not have that 20, 50, 200 year pay out.
Ploganea: Bruce: Talking about New Orleans food, gumbo and oyster dressing. Q: When we go to the bank, with cap on Zim with 1 billion, should I do a gift letter now for children? Bruce doesn’t believe in the payout over years. Hasn’t heard anything official about a payout. But do gifting now.
PinkRoses: Bruce caller: how strong we going in by Saturday night? Bruce: we are in very good shape. let me put it this way, if you somebody that likes to go shopping on black friday, go early… you read me?
Ploganea: Bruce: How confident are you that RV will go by Sat. night? In really good shape. If you want to go shopping on Black Friday, go early….Hope you understand.
PinkRoses: Bruce call: caller: if this happens over the weekend, I would be allowed to make appt on monday? Bruce: if we get notified before that, then set appt for Monday
PinkRoses: Bruce caller; taxes with WF grouop? Bruce: they may have a tax treaty already set up, we think we are in a tax free situation
Ploganea: Bruce: Caller is confused about taxes. There may be a tax treaty with no taxes.
PinkRoses: Bruce caller: you think the rate on the rupiah compatible with the dinar, afghani compatible? Bruce; the last rate for the rupiah was the 1.40 rate, unless a sleeper, i dont think strong as the dong.
Ploganea: Bruce: Caller says knows you can’t go into detail on rates. Bruce, rupiah not as strong as dong
PinkRoses: Bruce caller: rate on the zim? Bruce: I dont want to give rate out right now, much higher than what I even have said. it is very good, way strong, better than what we thought
PinkRoses: Bruce caller: i have learned alot. the over printing of the dinar? Bruce: i dont know about the over printing of the dinar. i think that the over printing issue have been found out for the most part. I cant speak officially of over printing. CBI has that under control.
Ploganea: Bruce: Talking about overprinting of dinar. Bruce thinks the overprinting issue has been found out. He thinks the CBI has that under control.
Ploganea: Bruce: Celebration call by or on Tuesday. Anytime tonight on..
Ploganea: Bruce: Talking about copying currency showing serial numbers. Bruce: Fine if you want to do that.
Pinkroses: Bruce call: copy currency, i lay it out to show the serial numbers, and take a picture, put receipt beside it. Bruce: that is fine if you guys want to do that
PinkRoses: Bruce call: caller: the last country to sign off? Bruce: the Philippians
Pinkroses: Bruce: i have heard a number of countries are scheduled to go first, then the rest will follow behind very shortly
Ploganea: Bruce: Caller asked who was the last one to sign off. Bruce said last country to sign off was Phillipines. Caller asked if the other countries were first to sign off does that put those people first in line before us. Bruce said that some are scheduled to come first, others will fall in line very shortly after.
Ploganea: Bruce: Talking about people who are behind on mortgage. Can I give people money to pay it off after exchange so they can live comfortably? Bruce recommends don’t necessarily give the money because they might not be good at handling it. Talk to CPA. Talked about gifting limit believes $14,200 per year limit. Question for CPA.
PinkRoses: Bruce: ask cpa for suggestions, can gift each child $14,000, or ask cpa how to handle that situation. can gift enough currency before exchange to pay off mortgage. probably talk to cpa to work out a gifting stragedy. this what i would do, you can cut two cashier checks one to each of the kids, $14,200 this year, and then one dated Jan 2 next year
Ploganea: Bruce: If you want to gift to pay it off, then do it before the RV. Then would have to hold their hand during the exchange. Talk to CPA. Bruce says he would have cashier checks, one to each kid. One this year in 2015, then two more in 2016 That would go a long way to make a dent in the mortgage. That is just an idea, talk to CPA.
PinkRoses: Bruce caller: if it possible the ZIM could be as high as .33cents? Bruce: anything is possible. I have heard some very good value for it.
PinkRoses: Bruce: everybody should go to bed full tonight, and sleep soundly.
PinkRoses: Bruce: do you really think this will go by Saturday? Bruce: Yes.
Ploganea: Bruce: Do you really think it will go by Saturday because it is callers BD on Saturday. Bruce: Happy, happy birthday on Saturday.
Ploganea: Bruce: On another call, it was mentioned that you could take money to the bank and it may not interfer with your appt. Bruce: Will not do one note but if you want to go to a different bank to cash in one note and exchange one note with that one bank and put it in an account. Would need to make sure that bank would exchange. The reason to do it is if you are traveling and need some liquidity.
PinkRoses: Bruce: most of us will exchange all we have at the same location. I dont like the idea of just walking in the bank and assuming they will exchange you. You dont know if they will exchange. even with one note, call the 800 number and set up the appt.
Ploganea: Bruce: Can WF exchange and get a certified check from the wealth manager and clear and clean to deposit into another bank? Bruce says yes, he plans on doing that and depositing a small amount in a local bank.
Ploganea: Bruce: Gifter gives the tax on the gift unless there is an understanding with the gifter. Talking about Sec 529 savings account. Give 5 years of the $14200 all in one account for someone
PinkRoses: Bruce caller: 70,000, all 50 states have a educational savings acct. they allow you to put the first 5 years of the $14,000 in which is $70,000.
PinkRoses: Bruce caller: those on SS income can impact them, but they can use gift cards that dont go in their checking account
Ploganea: Bruce: Be careful gifting to people on social security. Caller suggested gift cards may not hurt the social security recipient. Talked about that you can pay for someone’s education or medical expenses but have to pay directly to the medical provider or school. May be able to negotiate the amount to the medical provider.
PinkRoses: Bruce: please consult your cpa Bruce: when you think about it, solid information. Use cpa or tax attorney.
PinkRoses: Bruce: beware that you are looking to learn when you go in to meet wealth management group and get a cpa someone they recommend or your own, try to figure out how to go about the gifting, placement of funds in trusts or foundations. I like the idea of family foundaitons too.
Ploganea: Bruce: Kent says the 529 account may be for state tax not federal. Check into it. You are looking to learn with CPA, wealth manager. Spend time to get your plan, family foundations etc
Pinkroses: Bruce: I am hoping the family foundationis are simplier that Family trusts. You want to protect the money. You want to !) lose no money, grow the principle safely, and responsibly almost conservatively. 2) grow the money 3) protect the money (trust, LLC, foundations, legal structures, remember owe nothing, protect everything, talk to your attorneys how to do that. 4) give the money
PinkRoses: Bruce: you dont need that much to live well as much as we going to have.
Plogania: Bruce: Protect the money 1. Lose no money in ridiculous investment. Don’t need to grow the principal really high, grow responsibly, almost conservatively. 2. Grow money responsibly 3. Protect the money. May use trust, LLC within the trust. Own nothing, c4ontrol it. 4. Gift through foundation, endowment funds, God fund. Give effectively.
Pinkroses: Bruce: my goal take the God fund, 20% grow it and continue to gift from it over and over forever. let it be like an endowment.
Plogania: Bruce: God fund for him is 20% then grow it so it can continue to give even after you are gone.
Ploganea: Bruce: Steps away from home plate. Stay tuned over the weekend. If a black Friday enthusiast, go early
PinkRoses: Bruce call: we have rounded third and only steps form home plate. WE are in good shape. Pay attention this weekend. If you are black friday enthusiasist, go early.
Ploganea: Bruce: Thanks to Kent for helping. Ending the call.
PinkRoses: Bruce: be in a postion of thanksgiving, an attitude of thanks. I believe we will celebrate shortly.
Ploganea: Bruce: We will celebrate very shortly. We are in great shape. Closing with prayer
PinkRoses: The big call Bruce reply is 605-562-3198 Pin #123456