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Saturday, October 31, 2015

TNT :How will you know contract rate before NDA?, 31 OCT

    • StorySinger said
      11:51 AM Oct 30, 2015
    If I ask what contract rate I can get and they tell me 9 and then I look at the NDA and say I won't do the contract rate. I'll just take the lower rate, there is nothing to prevent me from discussing the contract rate I was offered. So if the main purpose of the NDA is to prevent people from telling a contract rate how can they tell you what your contract rate will be before you sign the NDA?
    • daz said
      12:10 PM Oct 30, 2015
    ITS ALWAYS BEEN MY OPINION YOU WONT

    AND THATS THE START OF A WHOLE NUTHER DISCUSSION
    • Eccl519 said
      01:04 PM Oct 30, 2015
    It's the ole chicken and the egg concept lol However my view is when you go in for exchange and ask about contract rates, they will say the contract rate is a percentage higher than the Market rate without exact amounts. Then, if you are interested they will hand you the contract (NDA) to read. After reading you will then have the option to sign or not sign, to go with NDA or not.

    If you sign, you will be under the NDA at that point and they will give you a starting rate at which time you may begin negotiating a higher (if that is an option) contract rate with the Dinar and Dong only.

    Remember, (as per Tony and DC) if you sign the NDA it will apply to ALL your currency you exchange! Zim, Rupiah, Afgani, Rial...everything. If all this is true, don't even think you can hold back some currency for later and try to slip it under the NDA radar. THEY WILL FIND OUT! and you will lose it all.

    It is also my opinion that the banks are NOT be trying to steal your money back with this NDA. The banks want you to have that money with them for a long time and not tied up in litigation over an alleged NDA disqualification. This contract is with China and the reason for the NDA is to keep that general info (about a contract with China) away from public view...THAT'S ALL!!

    This is just my common sense views/opinion and reasons for the (infamous!) NDA :)
    • shooter said
      01:17 PM Oct 30, 2015
    StorySinger wrote:

    If I ask what contract rate I can get and they tell me 9 and then I look at the NDA and say I won't do the contract rate. I'll just take the lower rate, there is nothing to prevent me from discussing the contract rate I was offered. So if the main purpose of the NDA is to prevent people from telling a contract rate how can they tell you what your contract rate will be before you sign the NDA?

     The real question is why to you want to play with fire. You ask for the rate, either you take it or not.
    Then it just becomes history, don't look for problems that aren't there. During World War II they had a saying
    "Loose lips sink ships". So leave your port hole closed and you'll be fine........................
    Shooter
    • daz said
      01:29 PM Oct 30, 2015
    If all this is true, don't even think you can hold back some currency for later and try to slip it under the NDA radar. THEY WILL FIND OUT! and you will lose it all.

    MAYBE IM MISSING YOUR POINT BUT I DONT SEE ANY ISSUE WITH THAT. YOU ALREADY OWN IT..YOU HAVE A RECEIPT MOST LIKELY...ITS A PRIVATE ASSET..AND WAS BOUGHT PRIOR TO A CHANGE IN VALUE...WHEN YOU DO EXCHANGE IT WOULD BE AT THE PREVAILING RATE NIT CONTRACT..
    • kogarris said
      01:49 PM Oct 30, 2015
    I have a new one. ."Zipped lips cant sink ships"... we should not be discussing any rates once we exchange, contract or not... some things are just better not discussed ...again that is my humble opinion
    • skelley1652 said
      01:57 PM Oct 30, 2015
    I'm with you on zipped lips.... Be Blessed! skelley
    • StorySinger said
      02:25 PM Oct 30, 2015
    I don't want to discuss rates or exchanges after the RV but there are definitely people who know I have been waiting for the RV. They know I am poor now. This is my daughter in law and a few close friends. I won't discuss the rate with them at all but they will know I've exchanged and even if they say they won't talk about it, they will. My reason for mentioning talking about the rate was to just figure out how they present the option when I am interested in the contract rate but not sure. If there is something in the NDA I don't like I won't sign. I'm just trying to figure out how they can tell someone the contract rate who hasn't signed the NDA, that's all. I appreciate answers but my goal is not to blab the contract rate. My goal is to understand how it will be told to me before I decide because I'm not sure. But if the only promise is not to tell the rate-no problem. If the promise is to never tell anyone I got money form exchanging currency there may be a problem after my friends look and me and say, "Don't try to deny it. WE know you finally got money from that dinar thing!" For no matter how much I deny it they will just say that's it.
    • beachcindy said
      02:57 PM Oct 30, 2015
    My understanding from Tony and DC's comments: first you sign the NDA and THEN and only then are the contract rates revealed. Otherwise it would not work.
    • cudbuck said
      05:55 PM Oct 30, 2015
    it's been written by many you will sign an nda before you see any rate higher than market
    • Eccl519 said
      07:04 PM Oct 30, 2015
    daz wrote:

    If all this is true, don't even think you can hold back some currency for later and try to slip it under the NDA radar. THEY WILL FIND OUT! and you will lose it all.

    MAYBE IM MISSING YOUR POINT BUT I DONT SEE ANY ISSUE WITH THAT. YOU ALREADY OWN IT..YOU HAVE A RECEIPT MOST LIKELY...ITS A PRIVATE ASSET..AND WAS BOUGHT PRIOR TO A CHANGE IN VALUE...WHEN YOU DO EXCHANGE IT WOULD BE AT THE PREVAILING RATE NIT CONTRACT..


     Just quoting what DC said.  "If you go with the contract rate it pertains to all your foreign currency purchased prior to the exchange" or better yet the GCR.  So I guess my point would be if the NDA refers to all currency you posses at time of exchange maybe wise not to skirt that especially with all the info they will gather on us. 
    But all is really moot here until we know whats in the Contract. And i agree with what you said in a normal situation of owning currencuy, I just wouldn't want to find out the hard way in this situation, that's all.   I appreciate all your input over the years!
    • lilfish said
      07:53 PM Oct 30, 2015
    StorySinger- So it sounds the best way is to decline the contract rate unless you can know you can keep quiet about it.
    • StorySinger said
      08:29 PM Oct 30, 2015
    I never thought of holding back currency to get some with an NDA and some without an NDA. Not only was that not my question but I never think about of that because I know that can't be done.
    I have only 2 big questions in my mind: 1. Can you and how is it possible to know the contract rate before you sign the NDA? 2. If my relatives and a few friends start telling people "StorySinger must have gotten rich from her dinar money," is it possible that their gossip could make me lose the money even though I NEVER NEVER WILL TELL THEM THE RATE I got? 
    • Samhain said
      09:09 PM Oct 30, 2015
    NDA or not, my lips are sealed. So I'm going for highest rate possible on each of the currencies I own, then I'm a ghost.
    • StorySinger said
      10:33 PM Oct 30, 2015
    Thank YOU All for your answers and Thank You Eccl519 for writing that you appreciate my input over the years. And now for right now I will be quiet and enjoy the music in my heart.
    • roma11 said
      10:48 PM Oct 30, 2015
    TELLING IS NOT SHOWING YOU ,AFTER THEY TELL YOU ASK THEM TO SHOW IT TO ON THE SCREEN .
    • Oneiros said
      06:59 AM Oct 31, 2015
    Here goes my dumb question for the day. If you have a business with an EIN# and another account in your name at the same bank can then get caps on both accounts at that bank, is it then possible go open up a business and personal account at another bank and do the same? Does that also apply to the NDA? So if you don't sign an NDA can you proceed with that idea or are you just playing with fire? Any opinions
    • bringitonTony said
      08:24 AM Oct 31, 2015
    It is my opinion from everything Tony has told us, that if you have a business account and you are a signer on that account or known as an owner of the account/business, then the total caps will apply for the combined accounts. You would not be able to go to another bank and open an account there to exchange more for a high rate...remember, all banks need to submit transactions to the UST/FED..and they will do this electronically....I'm sure the banking system will know if you have already reached your caps at a bank.

    Also, keep in mind, if you end up not going with the contract rate and you receive say $5/dinar, you can always negotiate later with your wealth manager that is assigned to you for your 2nd appointment. If they don't give you what you want, you can tell them you are taking your money, or part of it, to another bank because they will give you more "perks" and interest, etc....everything is negotiable. If you don't want to deal with the NDA at all, ask for the highest rate you can get...you already know in the first 2-3 days the banks are going to give you between $5-7/dinar...so if they offer you only $4, ask for more or pick up your dinar and walk down the street to the next bank.

    I believe what everyone's conclusion is on the NDA/contract rate...you won't know what it is until you sign the NDA...And when you sign a NDA and suddenly you are driving a better car, etc....you can just let them know you "made a wise investment that paid off and you're not at liberty to discuss details with anyone".

    Just my opinion....I wish you all the best, everyone!! 

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