[BWM] Happy New Year MIG...
[BOBGETZ6] bwm hey bro.
[Cyndee49] BwM hi guy welcome to the new year
[BWM] BOBGETZ6 you old magician you...
[Imperium] BWM we're doing 'cliff talk'... any comments reletive to the IQD?
[BWM] Imperium I actually had a post on the fiscal cliff and why I don't believe there is actually such a creature other day...
[BWM] the basis is simple.. since taxes are due on a "worst case "scenario of quarterly... you can hold off all issues because any decisions would be retroactive to the beginning of the year... now that 2012 is gone that is not a big deal IMO
[BWM] there have been some other questionable comments made in regard to the revalue of dinar in regards to the CBI...one of the big things you need to understand that someone seemed to miss on is while the CBI has made money in the past off of auctions, those auctions will end once the currency again has value
[BOBGETZ6] I can't believe that they are voting on a Congressional pay freeze, when the real problem at hand goes much deeper.
[BWM] BOBGETZ6 well gee Bob... that is over 500k in the big picture of 16.4T and about to go up more... LOL
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[cgmom70] this is why i dont come on much cause all gurus pointed to the first, and no it cant happen and wont cause of issues that are out standing. is it in iraqs hands? could be, or is it in the un hands?
[BOBGETZ6] cgmom70 Obama's not ready?
[BOBGETZ6] cgmom70 Could you splain that please?
[BWM] cgmom70 I don't agree in Iraq's hands... too many "put offs" that just seem way to easily resolved... for instance, we're gonna vote on the budget this date, no that date, no wait, we'll do it in another week... articles coming out of Iraq are a joke with some of the things that get repeated, rehashed and reworded... looking for truth in this is absurd
[cgmom70] BOBGETZ6 the taxes the cliff the gurus gave that to us
[cgmom70] most would not effect
[BWM] cgmom70 I know who put M in place... and I have a pretty good idea when he will be gone... but until other things (not in iraq) are resolved you won't see those plugs pulled
[cgmom70] use to be the 250,000 per person
[mcmc408] pepper Me too hard to believe anymore
[BOBGETZ6] cgmom70 Gurus did not give us the cliff, the media started that.
[BOBGETZ6] Unless you are speaking of different gurus
[cgmom70] BOBGETZ6 ok well if anybody made more then 250,000 per person then speak up now as a dinar community
[Expendable3] "articles coming out of Iraq are a joke" Amen
[BWM] JstBringIt which one are you speaking of...
[SWFloridaGuy] BWM But listening to guru rumors is reliable right?
[xyz] BOBGETZ6 lol bob, i thought the media is public's guru hmm
[BWM] SWFloridaGuy nope... never said that either...
[willietrader] BWM Yeah M gone in April lol
[SWFloridaGuy] BWM Of course some articles aren't reliable which is why you must consider the source.
[BOBGETZ6] cgmom70 Not this year, but have many times before. That value doesn't concern me. The waste, spending more than we take in, etc. bothers me.
[cgmom70] so the cliff meant what to each of us in the dinar community
[SWFloridaGuy] BWM So, you don't think we should do our own research, you don't think we should give credence to the rumors, which leaves what, listening to you?
[cgmom70] no cause means alot if you was over 250,000 now its 400,000 sorry
[aberry] cgmom70 taxes
[BOBGETZ6] cgmom70 Not a darned thing, but I think it is a moot point. We watch that hand while the other does a "gloveless" examination.
[trini] So what is the purpose of this "Fiscal Cliff" BS non-sense? Its purpose is to Con the American people again to fall for the Con Job they have been running since Reagan era which Con Job was then sold as "Government is the problem and not the solution" and now being sold as "Government has too high a Deficit" the purpose of which Con Jobs are: 1- To give US as little value as possible for Taxes that we pay, 2- To have the Rich not pay their fair share of Taxes. Such as someone like Romney paying 15% Taxes while a typical Middle class pays much higher Taxes. 3- To enable the Wall Street Gang and their Agents to get as rich as they can off the back of the People by not having the Government (of the People) regulate what Big corporations can charge, such as have Government run Universal Nationalized Health Care, as they have in ALL developed nations, as a result of which health care would cost US half of what it costs now while giving ALL Americans having health care for the Taxes that we (already) pay.
[BWM] SWFloridaGuy I just don't think we're gonna find someone or some article to tell us when this is going to happen before it does... I know we get a lot of information that tells us when things could be accomplished.. but when someone tells me it's going down on this date and time and it's more than about 5 minutes from now... well... I just kind of tune out
[BOBGETZ6] SWFloridaGuy Are you an attorney?
[SWFloridaGuy] bobgetz6 Nope
[cgmom70] BOBGETZ6 so the mood points is we revalue every day is that the mood point or on each holiday asking ?
[JstBringIt] Sorry my bad....its from the i4u forum..... . http://www.intel4u.com/Forums/index.php?/topic/2853-the-latest-from-%E2%80%9Cdhs-insider%E2%80%9D/
[SWFloridaGuy] BWM Of course we're never going to find reliable RV information and that applys to the investment as a whole. What we can do is look for signs of general progress.
[BWM] SWFloridaGuy I'd say don't listen to anyone but what you believe in my book...simple, easy way to wake up each day...
[BWM] trini let me bring in a bit of what I posted other day about the fiscal cliff and why I don't believe it really exists but is a propogated media and congressional ploy to lead us to support those that don't deserve our respect for their past failures...
[BOBGETZ6] No gurus in here calling it everyday.
[Precious] there are over 150 pages of speding pork in the "save the fiscal cliff" scam.....................
[SWFloridaGuy] BOBGETZ6 Thank god for that. :)
[BWM] trini Now if you consider what happens after January 1st. There is no rush for politicians to resolve their differences by Jan 1, Why? Because taxes would not be in effect for any period until the end of the first quarter which would give lawmakers at least two months to resolve any issues that would be retroactive back to January 1st. Remember the "cliff" would only affect transactions AFTER January 1st which also means any resolutions met say January 15th would still cover ALL tax circumstances for the year 2013 since no tax situations would have come to fruition at that time.
BWM] If you think of this strictly from a partisan situation Obama has spent the last four years blaming Bush for problems he inherited and now the focus is his tax cuts. What better way for him to completely remove the remnants of Bush than by making sure the tax cuts go away and were replaced by new "democrat" resolutions. Harry Reid (the original sin of the Senate imo) has repeatedly stated nothing would be done until the "cliff" had passed. He has over and over stopped legislation going thru and has done everything he could to make sure that Obama has the power (through executive order) to do whatever he likes. This will be a political play, on both parties part, to create more drama in an effort to hold onto or grasp whatever they can going forward to make sure they can hold onto power.
[BWM] What does this mean to us in dinar world? Possibly nothing at all because we have yet to clarify exactly what tax ramifications will be held against us. We have heard the 0%, 15%, 35% and the new 45%, plus additional 1%-3.8% add-ons. The only thing you can possibly count on is the amount that your state tax may end up being depending on how you've set up your dinar accounting. Many of us have grown weary of the constant what ifs and have given up our attitudes to the "I'd give whatever taxes if it'd just happen" mentality. This is dangerous because as wonderful as it would be to have this event to happen it'd be MORE wonderful if we maintain as much of our new gains as possible.
[Precious] Fox has said several times....they are worried about the asian markets....waiting to see them...hmmmmmmmmmm
BWM] The best idea I've heard in the last couple of years is getting a letter from the IRS (proxy by your tax atty) certifying the amount of taxes you need to pay. This may cost about a thousand dollars but will be well worth it in the long run in my opinion to insure that your are covered going forward. (Remember ALL decisions affecting your immediate decisions should be run through your tax team, atty, acct, etc.) |
[BWM] IMO this will be another part of the big production. The "cliff" will pass and the dire needs of America will be resolved in some expiration deal that will leave both parties claiming some win for the American ppl on their part in an effort of true "bipartisan" values. We will need to be alert and aware of the situations that will arise for us from these concessions. Pay attention to the details of any deal.
Make sure your tax professionals are keeping up with whatever new caveats will be created by congressional deals. Remember the fine print is smaller for a reason, they don't want you to pay attention to it. The "immediacy" that congress and media are playing on us is nothing more than glamorization of some false sense of accomplishment that greed and power have put up in a charade of "working for America". Remember, read the fine print...
[BWM] this was posted on sunday so some of the numbers were merely speculation...
[Expendable3] BWM yep dog and pony show
[RVIT] If O has his way on taxes... we may owe more in taxes than we recieve in an RV ! lol
[.043] BWM Thanks for telling it like it is on the cliff deal.
[willietrader] RVIT what will it do cover 30day of their spending lol
[BOBGETZ6] Just a guess on my part....Congress will come to an agreement to save the day, Geithner will announce that they found 16 plus trillion in a forgotten account, and a revaluation never mentioned.
[billuke] BWM only problem w/ getting a letter from the IRS - what if different people get different answers??? As they do when they call to ask a tax question?
[BWM] billuke the key will be to use one that has been approved as your example...
[willietrader] billuke that why you get it in writing from the IRS
[BWM] I'd just like to see those that "make" the laws... willing to live by the laws
[billuke] willietrader BWM - but what I mean, if what if I get a higher rate to pay than someone else?
[willietrader] billuke write a diffent IRS office
[.043] BWM I think we should try to get an ammendment done to the constitution that would require them to be equal to the citizens they serve. Set their salaries and from there on they have to live like we do...medical care, social security...etc.
BWM] .043 well there is this crazy section that says "congress shall make no laws that do no apply to all citizens including the congress" but you see where that has gotten us
[BOBGETZ6] .043 Not to interject, but that is the 28th Amendment, which requires a Constitutional convention, and some thirty plus states are working on that.
[.043] BOBGETZ6 Love to see that go through!
[BOBGETZ6] .043 They are rapidly approaching the number of states to call one.
[Precious] December 31 is the anniversary of "Iraq Day," also known as "Day of Sovereignty" The day marks the official end of the U.S.-led war in Iraq per CNN
[wisewarrior] hey good info btw i got talked into working a little today and it just turns out this dude is an institutional bond trader.......he said as soon as interest rates go up DO NOT BUY BONDS.......EVEN CORPORATES
[Crimson] wisewarrior Did he say why?
[rustyc] Crimson my guess is they will not be able to pay interest lol
[wisewarrior] Crimson lol he was shocked i knew anything about it fiat vs gold backed..................he said they will be worthless
[wisewarrior] silver and gold.....silver and gold.......
[Crimson] wisewarrior:} Thanks for the info.
[wisewarrior] Crimson yvw
[Gators] BOBGETZ6 hello. just curious if you mentioned if you heard back from your frozen friend?
[BOBGETZ6] Gators Nothing of consequence, at least not yet. We have spoken, but nothing conclusive. We did discuss speculation that what is going on in Washington may be tied to this. It would not surprise me.
[BOBGETZ6] I said earlier, and my conjecture only.....They will work out this fiscal cliff BS, Geithner will announce that they found a lost 17 trillion in an obscure account, and we are now well. All the while, the rv will have happened.