Cash In Procedures —- Must Read
Friends:
NOTICE: These instructions
have been put together from conversations with high net worth individuals who
have extensive experience in these areas; however, this is only a suggestion
and is not to be construed as legal or professional financial advice. You
should always seek the counsel of your own attorney or professional financial
advisor if you have any questions or concerns.
Exchange-related In
Bank Procedures
There have been several changes due to recent events with Wells Fargo that will
dictate how we structure our accounts at the bank for the best level of protection
and functionality.
During the initial visit there are several imperative steps that must be taken.
I will separate the two based upon whether one would have a trust established
before the RV or whether there is no pre-established trust.
I. Procedure if NO
Trust is established prior to exchange:
1. Request the bank to open a NEW non-interest bearing account. They will try
and establish an interest bearing account. It must be NON-INTEREST as of now.
This is called Account #1.
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2. Open up a separate account for each kind of
currency i.e. Account #1a for IQD and Account #1b for VND. The reason for
separate accounts for different currencies is to differentiate, if necessary
for tax purposes, between currencies which were tradable and currencies which
were not tradable prior to revaluation.
It is our understanding that the revaluation of a tradable currency is not, in
and of itself, a taxable event. (The following steps 3 thru 6 must
be followed with each currency separately. You may combine the separate currency account
assets into the Holding Account at step 7).
3. Once Account #1 is opened, deposit your currency into the account and
exchange into the new Treasury currency.
4. Immediately have the bank open a second account (Account #2) and have the
bank “sweep” everything from Account #1 into Account #2. Have the bank close Account #1.
Repeat this step for Account #3 and have the
bank sweep Account #2 into Account #3 and close Account #2. The
reason you are doing this is that the bank is required to report the opening of
Account #1 to the federal government and that
information can find its way into the public domain;
however, the bank is
NOT required to report intrabank transfers between accounts. What this does is effectively
eliminate your digital trail so that nobody outside of the bank knows how much money
you have on deposit and, more importantly, whether or not you are a good target
for a lawsuit.
5. If there is a need to utilize funds for personal use or to pay for a trust
to be established, it is encouraged to pull these funds either in cash (less
than $10k), or in a cashier’s check on your first visit and take it to your
respective bank and use Account #3 for this.
6. It is IMPERATIVE
to request a “clean and
clear certificate” while you are at the bank on your FIRST visit. This
certificate states that your money is clean and clear of all criminal
activities to which it could be associated. It is encouraged to get NO LESS THAN 20 COPIES!!! I
was told that the bank “should” offer 3 copies but will charge for additional
copies. Pay for them! The
purpose for these is for future use for your money. You may be requested to
prove where your funds came from and if they are clear of criminal activity.
These certificates prove that the bank certifies that your funds are clean and
clear.
7. After your trust is established; you will then take all trust documents to
Wells Fargo and have them put Account #3 into the trust. Label this account as
your Holding Account.
8. Once the funds are in the trust account; it is encouraged to establish no
less than 4 accounts within the Trust. I will label and describe them below.
a. Holding Account
– This will be a non-interest bearing account which will hold the bulk of your
funds.
b. Tithe Account -
10% of your funds to be used for charitable giving.
c. Mad Money Account
- 10% of your funds to be used for self-indulgent playing, vacations and luxury
purchases.
d. Tax Account
– You are encouraged to hold 15% of your funds for a year to offset any
possible tax implications. If there are no tax implications after a year, have
the bank “sweep” these funds back into the Holding Account and close this
account.
e. Project Account
– We recommend no more than 20% of your funds in this account. This account
will be the funding source from where all funds will come for business ventures
and projects.
f. Maintenance Account
– This is the only
account that WILL NOT BE IN THE TRUST!!! This account will be
the one you use daily. This account should never hold over $50k for liability
purposes. This account can be funded with a reoccurring transfer from the
“Holding Account” in
the form of a monthly stipend that shall be used to cover monthly expenses such
as your mortgage payment, your auto loan or lease payment and your monthly
utility and maintenance payments. (It is not clear at this time whether this would create
a taxable event.)
9. Remember that the Trust will purchase, provide and own everything that you
need. You own nothing, but control everything. The reason you still want to be making monthly mortgage
or loan payments is because these liens “encumber” an asset and make it less
desirable to someone looking for assets to attach.
II. Procedure if there
is an established Trust prior to exchange:
A. If at all possible, you should take your trust documents into the bank and
set up a non-interest bearing account in the name of the trust. Open the
account as a “business trust” entity.
B. Transfer ownership of all interest in your currency to the trust by
executing a Bill of Sale for the amount at which the currency was purchased.
That way, the currency is revalued inside the trust and your personal tax
liability is only for the amount at which you sold the currency.
C. Take the currency and your Trust Documents into the bank for the exchange
and start at step 2 in Section I above.
III. Issues with LLC’s
and LP’s and any other business entity and trust accounts:
It has recently come to our attention that Wells Fargo will not work with LLC’s
and LP’s and other business entities serving as a Trustee under a trust. By
utilizing these business entities, it may be necessary to understand that a
taxable event may be inevitable in order to fund these from the Trust Project
Account. This will be one of the first issues that will be addressed with
Attorney’s Post/RV
NESARA- Restore America – Galactic News
2012-12-22 18:20:59
Source: http://nesaranews.blogspot.com/2012/12/cash-in-procedures-must-read.html
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