[cruiser] I just want to share something with all of you. IMO and my eyes the IQD is no longer a RV or a CE. It is an asset exchange. Let me explain. For those who own, Pysically own IQD (meaning in your possesion), You own an asset. Meaning someone will pay money for this asset and in hope and essence more than the market value.
There is a difference between all other currencies right now and the IQD. That is the difference. Go back over what has been posted and shared before and what you all have learned about this crazy process. It makes perfect sense. Bank codes will determine what the price of our asset is. Not forex, and not the currency exchange rate program. Keep that in mind.
[highlander65] cruiser Good Point !! Thanks for the post!
[Greek1212] cruiser Does that implie that it's taxable?
[medusa1130 ] Cruiser good point I wonder what that will do come tax time
[Remi8] cruiser Won't that have tax implications?
[cruiser] The Tax is 15% according to EO 13303 (think that is the number)
Read More Link on Right
[medusa1130 ] Hummm so we'd only have to pay 15% on this whole thing wow
[cruiser] WCW This is tied to the fact that there is some one willing to buy it.
[billuke] cruiser if IQD is an asset, then taxed on capital gains?
[cruiser] billuke THe IQD is taxed at 15%. EO 13303 says so.
[~healthy3] cruiser that makes perfect sense and you know I'm not good at this stuff lol
[cruiser] ~healthy3 lol
[billuke] cruiser I'll have to find that 13303 and read it again, don't remember, it's been a while
cruiser] billuke it is in there.
[Greek1212] cruiser What can you tell us about timing, I know a lot were looking for today?? Meetings on Monday in the US then London middle of the week?? What can we expect??
cruiser] Greek1212 I never said today. You need to those individuals. The UN meeting starting next week is very important. IMO
[sandytob] cruiser Is there any difference if we have reserves that will be wired to our bank accounts?
[cruiser] sandytob do not know enough about reserves to comment
[Pearlnoir] cruiser do you have a link for the 13303?
[stillwaiting] Pearlnoir this is what i found....not sure if it is the whole EO but here you go .http://www.gpo.gov/fdsys/pkg/FR-2003-05-28/pdf/03-13412.pdf
[Pearlnoir] cruiser how come I bought currency and ta daaaa... it transformed into an asset? Will the VND be an asset too?
jc2] Pearnoir....although at current value a very small asset.
Pearlnoir] jc2 a good lawyer could make it a big asset in his claims...
[Pearlnoir] If it's an asset then people filing bankruptcy should include IQD in their documents... And also people in income disclosure requests or court orders...
[cruiser] Pearlnoir The reson why the IQD became an assets is because some one wants it. VND not too sure of or for that matter all other currencies, but I think that NO is the answer to all of them . What the exchange rate is, that will be our cash in rate.
[sandytob] cruiser well, if we did not use the codes for the IQD and just cashed in at the street rate, then wouldn't that qualify to just be an exchange also?
[Pearlnoir] cruiser why treat one currency different to others?
[sananddan24] Cruiser would that someone be China!
[cruiser] sananddan24 Not saying
[cruiser] sandytob still going to be taxed and to be honset, I would negoitate a price. Depending on how much u have..
[cruiser] Pearlnoir It is an asset. Not a currency anymore. Someone is will to buy it from you. That makes it an asset.
[sandytob] cruiser most of mine are in layaways...will get what Dinar Banker pays.
[Pearlnoir] cruiser sorry... another question... IQD is an asset if I use a code... If I exchange like normal currency then is not an asset?
[cruiser] Pearlnoir Learn to negotiate if you ae not going to use the code. That is my suggestion. If you want to take the exchange rate, so be it, you will still pay the tax on it.
[sananddan24] Cruiser okie dokie
[Remi8] cruiser But we will still go to a bank for exchange???
[sandytob] cruiser but I do have a small amount on hand. If I just cashed it in and did not use the codes,wouldn't I be saving some taxes? Just an exchange of currency then.....and there is supposedly no tax on a currency exchange (except for state).
[cruiser] sandytob very possible. Really do not know.
BocaLinda] Cruiser, i just had a thot... If rv is ot of iraqs hands, i bet we could lift the chap 7 without an rv. Because rv is up to ptb. What say you?
cruiser] BocaLinda Cannot happen
[BocaLinda] cruiser, ok.
[jc2] Cruiser....basically if you use money to buy things, it is money.....if someone wants to buy it from you as if it were a collectible...that would make it an asset....correct?
cruiser] jc2 yes. good analogy
[cruiser] Time for bed. Good night all.