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Wednesday, February 1, 2012

MED CHAT, 1 FEB

Med says to (20:20:28): HELLO  INDIAN  WHAT IS THE PROBLEM

starlord6d6d says to (20:20:43):  hey there Med, how are you tonight?
W8n2cashin says to (20:20:48):  just got on...........what's shakin

Med says to (20:20:56):  I AM A BIT SHAKY TONIGHT
NOT PAIN   BUT JUST LIKE TIRED BAD

indian 1 says to (20:21:10):  just some ? bieng asked that i cant answer

Med says to (20:21:15):  BEEN SLEEPING ALL AFTERNOON
THEN JUST TELL THEM YOU DONT KNOW
AND THE ANSWER WAS EASY

indian 1 says to (20:21:38): yep

Med says to (20:21:41):  AND WE HAVE EXPLAINED IT OVER AND OVER
THAT IS WHY I DONT EVEN KNOW WHY THE ISSUE OF THE AUCTIONS WAS EVEN ASKED  AUCTIONS ARE TWO PARTS
ONE FOR PUTTING LIQUIDITY BACK IN  SO THEY CAN CONTROL THE RATE
THE OTHER IS THEY ARE SELLING USD
WHY ARE THEY SELLING USD
AND WHAT ARE THEY USING TO BUY IT BACK

THIS IS HOW THEY HAVE BEEN ACCUMULATING THE DINAR BACK
THAT IS HOW A 1/2 TRILLION DINAR
GOT BACK TO CBI IN LESS THAN A WEEK
AND THIS IS THE SAME ANSWER TO THE SAME ? TWO YRS AGO
 
IT HAS NOT CHANGED
THE USD VALUE IS THE ACTUAL DINAR BEING SOLD
THE LARGE VALUE IS THE DINAR BEING BOUGHT BACK
USING USD TO SWAP IT

NOW FROM WHAT I GATHER
CBI IS NOT RUNNING AUCTIONS ANYMORE
SELLING USD FOR DINAR

THAT FROM NOW ON WILL BE THE RESPONSIBILITY OF THE BANKS
INSIDE IRAQ I ONLY GOT A HINT OF THE ARTICLE
CUZ I AM JUST WAKING UPAND ONLY GOT THE HEADLINE
SO SOMEONE FILL ME IN  STARLORD  CAN YOU

starlord6d6d says to (20:26:22): you prety much hit the nail on the head, it's a short article

irishbrian says to (20:26:32): Surely that has to be a benchmark for something else about to happen in phase 2??? Correct Med now going to use the banks.

Med says to (20:26:32):  OK SO MY GUESS WAS CLOSE

starlord6d6d says to (20:26:38):  that is what I got from the article

Med says to (20:26:41):  I AGREE
WE ALL KNEW THAT HAD BEEN IN HERE FOR SO LONG
OR WE HAD GUESSED  THAT THE AUCTIONS WOULD STOP

starlord6d6d says to (20:27:08):  yup
W8n2cashin says to (20:27:20):  4 sure

Med says to (20:27:25):  LIKE THE ONE ARTICLE FROM SONNY
SAID COMING DAYS   THIS TO ME IS A MAJOR MOVE
IT HAS BEEN A LIFELINE FOR CBI

starlord6d6d says to (20:28:00):  yes

Med says to (20:28:55):  THIS IS LIKE GOING INTO A TOY STORE AS A KID
WITH YOUR PARENTS   AND MOM AND DAD SAY
YOU CAN HAVE ANYTHING YOU WANT TODAY
AND BABY   THIS IS WHAT I WANT
I HAVE BEEN WAITING FOR THIS TO HAPPEN SINCE MARCH O9

irishbrian says to (20:29:44):
I will admit though that I also thought that by switching from yhr auctions to the banks perhaps it was a way to stop Iran taking advantage? Not sure if that is way off the mark?

Med says to (20:29:59):  NO BRIAN  YOU ARE ALSO RIGHT   BUT
CBI AUCTIONS DONT SELL TO IRAN    REMEMBER THE PROBLEM IS
THEY ARE CROSSING THE BORDERS  AND BUYING UP DOLLARS
WITH WORTHLESS CURRENCY   IT MUST BE ALLOT
CUZ FOR CBI TO WORRY THEY ARE TRYING TO SABOTAGE
THE MONETARY POLICY

irishbrian says to (20:31:28):  OK thanks for that Med

Med says to (20:31:36):   YW
I AM SURE IT IS NOT FOR JUST ONE REASON
IT HAS TO DO WITH SEVERAL
CUZ THERE ARE SEVERAL REASONS THAT INFLATION AND THE DINAR IS LOSING VALUE
I KNEW   WHEN THEY FIRST WERE *BLEEP* ENOUGH
TO MAKE ECONOMIC DEALS WITH SYRIA AND IRAN

Bam Bam says to (20:32:45):
thanks that was my next ?

Med says to (20:32:57):  IT WOULD BRING NOTHING BUT PROBLEMS
TRYING TO USE THE CURRENCY FROM TWO COUNTRIES ON THE TERROR STATE LIST   I MEAN COME ON      WHAT DID THEY EXPECT
AND I BET IT WAS THAT*BLEEP* ABUNGE

irishbrian says to (20:33:36):
I know 2 soild countries there to work with 8-)

Med says to (20:33:38):  THE ADVISOR TO MALIKI
THAT TOLD HIM GOOD DEAL 

ANNUITIES : Q & A, 1 FEB

THIS A MUST READ FOR INVESTING

[classroom] I am a registered representative with a Series 7 and 63 since 2001 as well as licensed insurance agent. Additionally I have an MBA and work in financial services.

Annuities help to diversify your assets. They are offered by life insurance companies and are generally creditor proof in most states. Upon the death of the owner, the funds are transferred to the beneficiary without going through probate.

 

***********************************************************

[wisewarrior] One of my financial advisors says I'm too young for annuities. I'm in my late 40's and know very little about them except that there are many different kinds. Too young is hogwash?

[classroom] wisewarrior - You would probably want to look at an accumulation annuity - variable

[stealthworks] What is an annuity? Is it a bundle of stocks, and is the income from an annuity variable depending on performance of the bundle of stocks?

[classroom] There are several types of annuities - you could have an accumulation annuity in mutual funds or fixed assets - Or you could have an income annuity

[Dusty01] What are your suggestions with regard to long term INCOME annuities? In other words, what is best for guaranteed INCOME and how much percentage-wise might one of those return? Thanks much for coming...
[classroom] Dusty02, Income annuities should be used to cover basic expenses - Those you know are constant each month. A 65 year old male would get a little over $60K each year with 20 year certain. If he lives to be 100 he would collect over $2 million.

[texasfan] In market value adjusted [MVA] fixed annuities I know that they typically pay a higher interest rate than on a non-MVA annuity. So is a MVA a good type of annuity that is still semi safe? Thank you

[classroom] texasfan - Market value adjusted fixed annuity has less market risk than variable, usually the guaranteed minimum return is typically 87.5% of the premium paid. Additionally, these can be sold over the counter and you don't have a professional representing you.

[fireballxl5] [fireballxl5] What percentage rate of return should we expect from an annuity and how safe are they for protecting your initial investment? Thanks

[classroom] fireballxl5 Rates of return will vary according to type. On a fixed annuity, it would be slightly more than a CD. On a variable annuity, you would be involved in equities. However, you can guarantee your principle with a protection rider.

[bonedog] What would be the advantage of an annuity vs. other vehicles such as a charitable trust?

[classroom] A charitable trust could have an annuity as an investment. An annuity is a product, the trust is a vehicle

[FreewayBill] What kind of investments are the highest yielding entities? Putting a certain amount in "safe" investments works, but there are some out there that yield 12-15% per year... Would you suggest splitting the money up that way as well?

[classroom] A charitable trust could have an annuity as an investment. An annuity is a product, the trust is a vehicle.

[Blessedby] What suggestions do you have for someone that has NEVER invested before and does not know where to begin?

[classroom] Blessedby Go to a reputable advisor. One who will find out what you want, what you need, and give you a plan, rather than trying to sell you something.

[patriot1490] At this point in our economy, how can you pick a good company that is strong for an annuity?

[classroom] Patriot1490 - Annuities are offered by insurance companies. All of them are rated - make sure the company has the highest ratings and did not accept TARP funds in 2008 and 2009.

[mrsjim54] I have read about Vanguard annuities which have lower but more stable yield but are more secure for older persons. Do you recommend Vanguard annuities?

[classroom] mrsjim54 - NO

[DreaminBig] How does an annuity differ than a whole life insurance policy that I can borrow against?

[classroom] DreaminBig With life insurance you can access the cash value income tax free if it is structured correctly. The funds come out as a loan. With an annuity, the first funds come as income and would be taxable. With an income annuity, a portion of your payment would be tax free.

[stealthworks] Of the annuities mentioned in the above question, which are the safest concerning the state of the US economy?

[classroom] stealthworks - You should check the ratings of the company. I would look for one that has been in business for a LONG time and has very high reserves.

[SBM0601] Can you explain what is an annuity? and why we would want one?

[classroom] SBM0601 Annuities help to diversify your assets. They are offered by life insurance companies and are generally creditor proof in most states. Upon the death of the owner, the funds are transferred to the beneficiary without going through probate.

[classroom] Tax deferral, creditor proof, tax free transfers between funds, investment protection, death benefits, legacy protection, guaranteed lifetime income

[classroom] There are accumulation annuities - to acquire funds to be used later and income annuities to be used now.

[ekay] What is the difference between Annuties and Mutual Funds, and does Annuities have any guarantee is the Stock market crashes?

[classroom] ekay With a variable annuity, you would have the choice of some 40 different mutual funds within the annuity. You would be able to chose funds based on your risk tolerance and goals. You would be able to move from fund to fund with no sales charge. With mutual funds, you pay a commission.

[RoseRedTyler] Where is the best place to buy annuities...broker or straight with personal banker at the bank?

[classroom] RoseRedTyler It depends on the insurance company rather than the broker or bank. It is extremely important the insurance company is financially solvent.

[TheBeav] Are any annuities tied to a whole life insurance policy that would produce monthly non-taxable income? What is the "income annuity" tied to that you suggested?

[classroom] TheBeav an income annutiy is tied to the age of the annuitant and the amount of money funding it.

[chap_cat] Would it be possible to explain both "qualified" and "non-qualified" funds that are invested into immediate annuities and the tax pros and cons of both?

[classroom] Qualified funds are "pre-tax" funds like IRA or 401K funds and all would be taxed when you use them. non-qualified funds are after tax funds and only the gain is taxed.

[TexasT] For the level of experience for many in here, would you not recommend a fixed indexed annuity, so these new investors could not lose principle?

[classroom] TexasT I would never recommend a fixed indexed annuity. You have all of the risk and only a portion of the gain. If you want guarantees, you can look at a fixed annuity or a variable annuity with an investor protection plan.

[assetsunltd] How safe is an annuity? and are most insured? Hopefully not only by FDIC, which is not very strong IMHO

[classroom] assetsunltd Annuities are only as safe as the underlying insurance company. That is why one should ask for the independent ratings of the company as well as look at their reserves.

[classroom] FDIC has 100 years to pay if a bank goes bad!

[shar35] What are some ballpark rates of return for an income annuity for a person in their 50's? How long does the income last? What portion of the initial principal invested goes to the beneficiary upon the owner's death? Do rates of return vary to a large degree between issuers? or is it usually <1%?

[classroom] shar35 One way to look at it, is to determine how much you want each month or year. Then work from there. You can also have the income annuity set up so that it would pass down from one generation to another. For example, you could name a grandchild as the annuitant and you rec the $ while you are living and then your child could receive the $ during their lifetime and then the grandchild receives the $ for their lifetime

[mm1797] Aren't there market risks with variable annuities?

[classroom] mm1797 Yes - there are. You can put in a support with investment protection. The market has been up 72 times over the last 100 years. and stays ahead of inflation.

[chap_cat] Would it be possible to explain both "qualified" and "non-qualified" funds that are invested into immediate annuities and the tax pros and cons of both?

[classroom] chap_cat - See earlier answer.

[buster] I have noticed there are items* for 'fixed annuities" on annuity calculators. Can you explain? Thank You! [*Initial rate, number of years initial rate is guaranteed, subsequent expected interest rate, minimum guaranteed interest rate.]

[classroom] buster Fixed annuties will have an initial rate of interest. Usually you can lock it in for a certain # of years.(1-8)

[classroom] After the initial rate of guarantee it will go to whatever the current rate is. Usually there should be a minimum rate the interest would never fall below

[Azure] Being that the stock market is so uncertain and holding your funds in US paper makes me uneasy. How safe is it now?

[classroom] Azure The stock market has out performed other investments 72 times out of last 100 years.

[jonnywg] OK GROUP CLASSROOM IS NOW FINISHED PLEASE THANK THEM FOR THEIR HELP................ WE WILL TRY THIS EXPERTISE AGAIN

CURRENCY REPORTING FOR TRAVELERS, 1 FEB

http://www.tsa.gov/travelers/airtravel/assistant/editorial_1848.shtm

Currency Reporting For Travelers

It is legal to transport any amount of currency or other monetary instruments into or out of the United States.  However, if you transport, attempt to transport, or cause to be transported (including by mail or other means) currency or other monetary instruments in an aggregate amount exceeding $10,000 (or its foreign equivalent) at one time from the United States to any foreign place, or into the United States from any foreign place, you must file a report with U.S. Customs.  This report is called the Report of International Transportation of Currency or Monetary Instruments, Customs Form 4790.  Furthermore, if you receive in the United States, currency or other monetary instruments in an aggregate amount exceeding $10,000 (or its foreign equivalent) at one time which has been transported, mailed, or shipped to you from any foreign place, you must file a CF-4790.  These forms can be obtained at all U.S. ports of entry and departure.

Monetary instruments include

  • U.S. or foreign coins and currency;
  • Traveler checks in any form;
  • Negotiable instruments (including checks, promissory notes, and money orders) that are either in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title thereto passes upon delivery;
  • Incomplete instruments (including checks, promissory notes, and money orders) signed, but with they payee’s name omitted; and
  • Securities or stock in bearer form or otherwise in such form that title thereto passes upon delivery.  However, the term "monetary instruments" does not include:
    • Checks or money orders made payable to the order of a named person which have not been endorsed or which bear restrictive endorsements;
    • Warehouse receipts; or
    • Bills of lading.
Reporting is required under the Currency and Foreign Transaction Reporting Act (PL 97-258, 31 U.S.C. 5311, et seq.), as amended. Failure to comply can result in civil and criminal penalties and may lead to forfeiture of your monetary instrument(s).

U.S. Customs Service
1300 Pennsylvania Avenue, N.W.
Washington, D.C. 20229

Telephone: (202) 927-1520