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Seriously?
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Toby1
zonepirate
therealbutterfly
ou812
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CaptnJerry
Jewelclamp
jabberwockey
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Seriously?
Can someone explain to me why we allegedly need a Non Interest-bearing checking account? I cannot imagine why anyone would want an account that does not earn interest, especially if they have a large amount of monies to deposit.
If I have 5M Dinar, and it RVs at 8+ (yeah, extremely hopeful but I dream big) that's $40million + USD. Even at a measly 2% interest that's around $2192.00 per DAY interest.
I don't see so in the rules, but has this site turned into just a cheerleading site for those who constantly want to pat each other on the back and dream of having a 12000 to 1 increase in their Dinar purchases? I asked a simple question and I am told I am negative by an admin who then locks the topic. What sort of ridiculous messaging board and admins disallow valid questions?
jabberwockey- Active Member
- Posts : 73
Join date : 2011-10-25
Location : Wisconsin
Re: Seriously?
Yeah, they just deleted my comment from yesterday as well. After Okie declared the RV last week at 12.36, how dare we question it? (though it hasn't happened). They either don't realize, or don't care what eire this sort of thing causes.
Jewelclamp- Active Member
- Posts : 54
Join date : 2011-07-28
Location : Tennessee
Re: Seriously?
I believe the answer to your original question would be that those accounts have unlimited FDIC insurance instead of the normal $250,000 per bank accounts total... Hope this helps...
CJ
CJ
*****************
Inspired by Splovengates "Be ready between sunday and monday night, or maybe tuesday or wednesday, could also be thursday but definitely by friday.... probably next week, monday or late tuesday night, wednesday morning to hear the rv and should be cashing in on the following tuesday the 1st part of january or february. Sooner more than later. But no later than the beginning of 2013. Certainly not before then. Until then, let's enjoy the ride!
Come on RI/RV!
CaptnJerry- Elite Member
- Posts : 991
Join date : 2011-10-10
Age : 53
Location : Texas
Re: Seriously?
CaptnJerry wrote:I believe the answer to your original question would be that those accounts have unlimited FDIC insurance instead of the normal $250,000 per bank accounts total... Hope this helps...
CJ
OK ... if that's the case, then it's about insurance. That makes sense in case of a collapse or bank failure.
Thank you.
jabberwockey- Active Member
- Posts : 73
Join date : 2011-10-25
Location : Wisconsin
Re: Seriously?
I do not know why ANYONE would suggest a non interest baring account.... DO NOT LISTEN.. seek professional guidance when it comes to placement of your funds, do NOT listen to anyone that makes a suggestion on a forum, unless they can back their information with professional credentials... please
I personally am looking at CDARS http://www.cdars.com/
Your money is spread into many interest baring accounts, controlled by ONE account.
Your interest will roll every month into the ONE account, and that would be the account you would want to use for personal expense.
As for BACKING the dream of 12000 to 1 increase... THE SITE does not back any rate or date.
We hope for the best and expect the worst.
I personally believe 1.17 IQD to 1 USD... if not 1 to 1 . . . . and suggest that people do not take anything HIGHER into account
I personally am looking at CDARS http://www.cdars.com/
Your money is spread into many interest baring accounts, controlled by ONE account.
Your interest will roll every month into the ONE account, and that would be the account you would want to use for personal expense.
As for BACKING the dream of 12000 to 1 increase... THE SITE does not back any rate or date.
We hope for the best and expect the worst.
I personally believe 1.17 IQD to 1 USD... if not 1 to 1 . . . . and suggest that people do not take anything HIGHER into account
Re: Seriously?
Miskebam wrote:I do not know why ANYONE would suggest a non interest baring account.... DO NOT LISTEN.. seek professional guidance when it comes to placement of your funds, do NOT listen to anyone that makes a suggestion on a forum, unless they can back their information with professional credentials... please
I personally am looking at CDARS http://www.cdars.com/
Your money is spread into many interest baring accounts, controlled by ONE account.
Your interest will roll every month into the ONE account, and that would be the account you would want to use for personal expense.
As for BACKING the dream of 12000 to 1 increase... THE SITE does not back any rate or date.
We hope for the best and expect the worst.
I personally believe 1.17 IQD to 1 USD... if not 1 to 1 . . . . and suggest that people do not take anything HIGHER into account
Thank you for the information and the link to CDARS.
jabberwockey- Active Member
- Posts : 73
Join date : 2011-10-25
Location : Wisconsin
Re: Seriously?
CaptnJerry wrote:I believe the answer to your original question would be that those accounts have unlimited FDIC insurance instead of the normal $250,000 per bank accounts total... Hope this helps...
CJ
Show me where it says non interest accounts have unlimited FDIC. Thank you.
ou812- Elite Member
- Posts : 464
Join date : 2011-12-16
Location : New York
Re: Seriously?
Its been said as a place to PARK the money for short term while you are looking to move into secure places and investments. NOT meant to be a long term thing, more like for a few days or weeks.
*****************
therealbutterfly- Elite Member
- Posts : 2416
Join date : 2011-08-02
Re: Seriously?
ou812 wrote:Show me where it says non interest accounts have unlimited FDIC. Thank you.
ou812, I'm not a banker and will probably never have a use for one of those accounts, so I haven't researched them personally, but that's what has been explained concerning these accounts. Is it right, don't know and don't really care. Just passing along info that is easily searched for here... If it is wrong info, I apologise for the continued spread of it...
CJ
*****************
Inspired by Splovengates "Be ready between sunday and monday night, or maybe tuesday or wednesday, could also be thursday but definitely by friday.... probably next week, monday or late tuesday night, wednesday morning to hear the rv and should be cashing in on the following tuesday the 1st part of january or february. Sooner more than later. But no later than the beginning of 2013. Certainly not before then. Until then, let's enjoy the ride!
Come on RI/RV!
CaptnJerry- Elite Member
- Posts : 991
Join date : 2011-10-10
Age : 53
Location : Texas
Re: Seriously?
ou812 wrote:CaptnJerry wrote:I believe the answer to your original question would be that those accounts have unlimited FDIC insurance instead of the normal $250,000 per bank accounts total... Hope this helps...
CJ
Show me where it says non interest accounts have unlimited FDIC. Thank you.
Just check with your bank. My local bank is a small regional bank and they have them. Personally I plan on other routes IF an RV ever happens.
zonepirate- Forum Fanatic
- Posts : 155
Join date : 2011-07-21
Location : Chattanooga, TN
Re: Seriously?
Non interest bearing accounts are insured above the $250k per bank limit. This is from the Frank Dodd Act. This expires Dec 31, 2012, so if you have more than $250k in your bank account, you go to ex. Lloyds of London to get insurance to kick in before Dec 31.
also query transaction account guarantee (TAG)
also query transaction account guarantee (TAG)
Toby1- Elite Member
- Posts : 266
Join date : 2011-06-18
Re: Seriously?
Ya know, I have noticed a lot of financial advice being given by some of the gooroos and I think that is a big mistake on their part. Giving financial advice without having the credentials is just asking for a law suit if that advice doesn't pan out. As far as the non-interest bearing accounts and having a second account and immediately transfering your money from one account to another as soon as you cash in it all seems pretty extreme. If this ever happens, and if it comes out at anything above 10 cents I plan to cash one note to have a little money to pay for a professional to tell me what to do with the rest then go cash in the rest after I have been advised by someone who really knows what they are talking about. This shouldn't take more than an extra day or two and in my opinion it will be well worth the delay. Just sayin'.
ibcraig0- Elite Member
- Posts : 200
Join date : 2011-10-17
Re: Seriously?
ibcraig0 wrote:Ya know, I have noticed a lot of financial advice being given by some of the gooroos and I think that is a big mistake on their part. Giving financial advice without having the credentials is just asking for a law suit if that advice doesn't pan out. As far as the non-interest bearing accounts and having a second account and immediately transfering your money from one account to another as soon as you cash in it all seems pretty extreme. If this ever happens, and if it comes out at anything above 10 cents I plan to cash one note to have a little money to pay for a professional to tell me what to do with the rest then go cash in the rest after I have been advised by someone who really knows what they are talking about. This shouldn't take more than an extra day or two and in my opinion it will be well worth the delay. Just sayin'.
You make a very good point about people giving out financial advice. While this is not financial advice in any way, I know that I am not going to be moving large amounts of money around to this account and that account, this bank and that bank, this country and that country. Although no one that I have seen here mentions it, there is not a better way to get feds looking at your accounts and life (and maybe even freezing all your accounts while they are 'evaluating' them) than to begin moving large amounts of money around.
jabberwockey- Active Member
- Posts : 73
Join date : 2011-10-25
Location : Wisconsin
Re: Seriously?
[size=9][quote="jabberwockey"]
CaptnJerry is correct, and TheRealButterfly's comment is why one might do this.
Here is a link to where the insurance is stated at the FDIC website. Many
bankers, for whatever reason, are not even aware of this.
Also, not sure about this, but I have heard that the $$ in non-interest
bearing account will be gold backed dollars when our currency system changes.
Only these accounts will have the UST gold backed money while the
rest will have FedRes Notes. Again, have heard this and not sure where it
can be verified.
http://www.fdic.gov/deposit/deposits/unlimited/implementation.html
The above link took me right to the info and is a good reference to share
with the banks/bankers that are seemingly unaware of this.
I received a call yesterday from a WF Private Banker thanking me for this link and info!
Blessings ~ Time4TransferofWealth
Can someone explain to me why we allegedly
need a Non Interest-bearing checking account? I cannot imagine why
anyone would want an account that does not earn interest, especially if
they have a large amount of monies to deposit.
If I have 5M
Dinar, and it RVs at 8+ (yeah, extremely hopeful but I dream big) that's
$40million + USD. Even at a measly 2% interest that's around $2192.00
per DAY interest.
CaptnJerry is correct, and TheRealButterfly's comment is why one might do this.
Here is a link to where the insurance is stated at the FDIC website. Many
bankers, for whatever reason, are not even aware of this.
Also, not sure about this, but I have heard that the $$ in non-interest
bearing account will be gold backed dollars when our currency system changes.
Only these accounts will have the UST gold backed money while the
rest will have FedRes Notes. Again, have heard this and not sure where it
can be verified.
http://www.fdic.gov/deposit/deposits/unlimited/implementation.html
The above link took me right to the info and is a good reference to share
with the banks/bankers that are seemingly unaware of this.
I received a call yesterday from a WF Private Banker thanking me for this link and info!
Blessings ~ Time4TransferofWealth
Time4TransferofWealth- New Member
- Posts : 21
Join date : 2011-12-16
Re: Seriously?
It all comes down to Insurance by the FDIC,
If your money is in a non interest bearing account it is covered past the normal 250k in a interest acct.
But all is moot unless congress acts and the president signs an extension, it expires 01/01/13
If your money is in a non interest bearing account it is covered past the normal 250k in a interest acct.
But all is moot unless congress acts and the president signs an extension, it expires 01/01/13
*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant
Yesterday would have been better, but today is a good day
Remember as always, JMHO
Rantings from just north of sixty
1alaskan- Elite Member
- Posts : 4668
Join date : 2011-06-21
Age : 41
Location : Planet far far away
Re: Seriously?
Yes jewlclamp you think any thing that makes sense will be allowed to hang around to long. Say anything that doesnt make you a stepford wife and your outta here. I want to tell you the God I serve is a mighty God who puts up with People long But who will measure out justice in due time. Those who use his name lightly shall reap a just reward both on this side and in the next. This dinar isnt going to play out like people think so dont put your faith in it. Even the welsh man had a good article and where is it. Gone because it didnt please them. Id rather please God then men so be warned
kingosawbe- Active Member
- Posts : 86
Join date : 2011-12-20
Location : way down south
Re: Seriously?
Any member can post pretty much anything, except the things prohibited, which are posted in many areas of the site, as long as one does it nice
If not so nice, there are consequences, be prepared to pay them
Real simple
If not so nice, there are consequences, be prepared to pay them
Real simple
*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant
Yesterday would have been better, but today is a good day
Remember as always, JMHO
Rantings from just north of sixty
1alaskan- Elite Member
- Posts : 4668
Join date : 2011-06-21
Age : 41
Location : Planet far far away
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