Original Anonymous Author wrote
The OPINIONS EXPRESSED HERE are my own, based on information given me, logic, speculation, and of attempting to see the big picture after putting 500 pieces of a 1000 piece jigsaw puzzle together - beginning at the corners of course.
Once the release is approved it will hit all entities at the same time ¬ CBI, central banks around the world, market platforms (ISX, NYSE, NASDAQ, etc…) and FOREX, if it is within their operational hours.
The Federal Reserve will simultaneously release to all banks via the interbank communications network ¬ and the supposed CIX network. At the same time the banks will post on their websites the 1-800/1-888 phone numbers to be utilized for appointments. As well, certain preferred dianarians will also release to their own groups (Tony TNT, OKIE, etc…)
You will then be able to call and get an appointment ¬ the software being utilized (I am not an IT expert - this is as described to me) by the banks allow the call centers to see the AREA CODE from which the call Is coming, then direct that call to the area of the call center that handles that area code. Within that specific group of operators for that AREA CODE, they have all the ZIP CODES for that calling area. This allows them to focus on exactly where you live or where you prefer to exchange within your area.
So, for example, let’s say I am calling from the 305 area code (Miami), then the operator, once I am on line is able to ascertain that I want to exchange within the 33156 zip code (Coral Gables) and can them direct me to several banks ¬ depending on what bank 1-800/1-888 number I am calling.
> Sounds simple ¬ huh? Well, here is where it gets a little complicated. Let’s say I am calling from a cell phone that has a different area code than the one I live in, then that call will be directed to the AREA CODE showing and you will end up speaking with someone from that area, even though you may not be cashing out in that specific area, but want to cash out in a different AREA CODE. They will redirect your call, to a “queue,” where you will be required to wait until an operator for that area is able to take your call ¬ so you could be waiting awhile.
Let’s say you have a phone that shows a “blocked” or “private” number ¬ those calls will be sent to “dump off” area that will then redirect your call. (SEE ABOVE)
INTERNATIONAL PHONE NUMBER
How about calling in from an international number ¬then you will be directed to an area specifically designed for international numbers ¬which is staffed with primarily English speaking people, but will also have Spanish, German, French and Canadian (aye! ¬ just kidding) and a limited number of people to deal with those who do not speak English.
Okay, everybody got all of that? (RE-READ till you do)
First up, when you call in they will ask you for your NAME, ZIP CODE, and AMOUNT OF DINAR ON (IN) HAND ¬not how much you have in RESERVES, but how much you have ON (IN) HAND. (***To exchange at 1st appointment)
Here is where you can really get yourself in a wreck. Let’s say that you have 1M dinar on hand and 20M on reserves and you being the smart person you are, says ¬ hmmmm…if I tell them I have 21M dinar then I will maybe get a better appointment site (see below) and possibly get in quicker. Sounds reasonable. Right? WRONG!!
Here is what is going to happen - you follow the scenario above and they set you an appointment. Okay good, got your appointment, you know your cashing out ('exchanging') and you know as soon as you exchange out you are going to wire money to pay off your reserves…makes sense, or you have already called to have your reserves exchanged - depending on your third party exchanger.
The reality is, is that you will be RESCHEDULED at your appointment. They only want you to have an appointment based on what you have on (IN) hand. They could reschedule you as far as one or two weeks out. Now what?
Additionally, everybody who exchanges will go into a DATABASE to be used at a later date against TAX ROLES. [8:37:20 PM] Skip: NOTICE ¬ I DID NOT SAY THEY WILL ASKWHERE YOU GOT YOUR DINAR - they are only interested in the AMOUNT YOU EXCHANGE ¬ AGAIN THE AMOUNT YOU PERSONALLY EXCHANGE.
NOTICE ¬ I DID NOT SAY THEY WILL ASK WHERE YOU GOT YOUR DINAR - they are only interested in the AMOUNT YOU EXCHANGE ¬ AGAIN YOU PERSONALLY EXCHANGE.
part 2 They will NOT BE TRACKING how many banks you go to or how many appointments you have ¬ ONLY what is exchanged using your social security number or EIN number.
And it gets better…there will be different levels of exchange centers ¬in other words there will a “cutoff” depending on how much you have. ¬A person with 5,000 dinar, in all likelyhood, will not be exchanging at the same place as a person with 500M dinar.
> I CANNOT TELL YOU THE CUTOFF LEVELS, because they are subject to change.
Secondly, the major majority of exchange locales will be offsite from the actual bank.
Those with limited amounts will exchange in exchange centers with 2-300 cubicles, major, major security ¬ like FORT KNOX style ¬ and will be in a non-descript building.The reason, they can get 4-500 people done per hour, working from 0800 to 2300 hours per day ¬ that calculates to 7-8000 a day. Multiply that by 100 cash-out centers NATIONWIDE and you get ideally around 750M people per day.
Understand at this appointment, ALL you are doing is EXCHANGING ¬not setting up trusts, not dealing with a private banker (if you qualify) ¬ONLY EXCHANGING.
Based on information I received from my contact at one of the MAJOR 4 banks ¬ • They are estimating that there are around 5.1M dianarians in the US contingent. • Of those approximately 2.62M have RESERVES. • 714K are holding more than 1M dinar on hand ¬ no reserves. • 1.78M have less than 1M dinar on hand ¬ possibly with reserves. • Of the 1.78M, it is estimated that 1.2M have less than 100K total ¬ including reserves.
REGIONAL CENTERS BEING LIMITED IN EACH AREA There will only be a limited number of “exchange centers,” as has been estimated 100-125 nationwide.
This brings up the other side of the coin. You must understand that for banks this is a logistical nightmare and as such are going to have us jump through as many hoops as possible to exchange.
Meaning, they DO NOT WANT PEOPLE in their lobbies wanting to exchange ¬ they would much prefer to have you at an offsite exchange center, for the following reasons:
1. Security ¬ it is easier to manage a larger locale with security everywhere and people being queued into lines, much like you are ALREADY USED TO at airports. Banks are not stupid, meaning if they introduce a new procedure, they do something that you are already familiar with - like an airport ¬ moving thousands of people an hour. Here they can set up security check points for metal detectors and pat downs when necessary. Believe it or not that is an everyday occurrence at all banks in Costa Rica.
2. Banks DO NOT LIKE a large number of people in their lobbies or hanging around their lobbies waiting on another person or worse yet, lined up outside their doors.Looks bad. People may think there is a run on banks or worse. Plus, you need to realize that a majority of American’s know nothing of this transaction. There are approximately 312M people in the US, 5M dinarians is .016% of the population!
THEY DO NOT WANT THEIR DAILY CUSTOMERS questioning or upset with not being able to utilize bank services.
3. Most will do everything they can to redirect you to an offsite facility ¬ think about this ¬ most private bankers or wealth managers have offices outside of the general bank area. The reason is that their clients want anonymity and do not want to be bothered with even going to the bank. In my case, my private banker flies to Costa Rica, every 90 days or more depending on my needs ¬ I have NEVER been inside the bank yet.
CONTRACT RATE versus MARKET RATE
First, let’s clarify the difference between these two: CONTRACT RATE ¬is the rate that the banks negotiated on your behalf and is a set rate MARKET RATE ¬is the rate that will be posted on the Central Bank websites and the rate that FOREX will carry. It will move as the market dictates.
It is my OPINION that only those that take or get the CONTRACT RATE at the highest level will be required to sign the NDA. If you take the market rate, why would you need to sign the NDA? Every person who trades on FOREX will be able to trade the market rate and not ever sign an NDA.
FINALLY, this is going to happen and very soon.
Posted by John MacHaffie at 6:54 PM