Freeway Bill 11-20-11 Great Post

I agree 100% Freeway. Bles sings, CZ
Freeway Bill as posted by Highhopes at PTR Forum 11/20/2011


Question = pegasus0ne: Freeway Bill...a couple of questions for you.
I read NK's summary post this morning and a couple of Jonnywg's answers to the question posed have me a little confused.
1) Someone asked if it might be a good idea to wait until January to cash in, I assume to push this new found wealth into the new tax year....he responded with 'NO' and then followed that up with 'it's better to have 50% of something than 100% of nothing.'
2) Someone also asked him if there was time to cash-in a small amount and take the time to set up the financial tools to handle the funds properly, ie foundations, trusts, etc. and his response was, again, 'NO'
If you speak with him on a regular basis some clarification would be nice. I'd also really like to hear from the guys here at PTR regarding these responses, if they have any foundation? We are constantly being counceled to cash in a small amount, take care of setting things up properly and then cashing in. I'm all set up so not too worried but this is something that should be discussed and cleared up for the entire PTR membership. Thanks pegasus0ne

Reply - FREEWAY BILL: For both questions, I believe like Jonnywg. # 1 You have to pay the taxes anyway and pushing them into the next year would certainly be to your benefit but also remember that this is moving rate once it hits and it could go down. In fact, it is expected to after an initial honeymoon period, to go back up gradually until it gets to where Shabibi wants it at a later date. So he is trying to tell you that the rate you get in November may not be as high as what will be there in January. # 2 I have checked this one out myself. You can deposit all of your money into a non-interest bearing checking account and then set up your LLC and Trust accounts, so why wait to cash in for this? Consult your professional for a better outlook on this. As for me, I will be cashing in as soon as I can accumulate all of the dinar that I have sitting in 3 states if the initial rate is anything but an RI.
As for the much questioned remark of "It saddens me" This was about the bashing that Jonnywg has taken when I know where he gets his information and how credible it is. This guy is spending 24/7 on this to report to all of us for FREE. Where I work a 50 hour + week and dive into this at night, Jonnywg is working all day and then still working on it at night as well.
I hope that answers all of your questions, but I am sure that Jonny feels as I do that this is your blessing and you should handle it the way you are more comfortable.

I heard that a non interest bearing account has unlimited insurance but the gov. insurance has 100 years to pay it back. I may be around for 20 more years. Any truth to this.

airstreamer wrote:I heard that a non interest bearing account has unlimited insurance but the gov. insurance has 100 years to pay it back. I may be around for 20 more years. Any truth to this.

I heard that too.

I believe what we heard was that IF THE BANK FAILS that the FDIC could take upto 100 years to pay out the debt but would they take advantage of that??? That would make someone to be darn sure of there banks solvency before leaving the funds there, however we are not talking about depositing and then leaving in for an indeterminate amount of time... Just enough time to deversify...rick152