DINAR UPDATES 5-18-16
Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Wednesday AM Chat 5-18-16 Part 3 of 3
subgirl says to rcookie():IRONING CARD (MASTERCARD) FOR USERS INSIDE & OUTSIDE OF IRAQ
rcookie says():IN COLLABORATION WITH CBI PROVIDE DOLLAR COIN TO CITIZENS FOR MULTIPLE PURPOSE IN COMPLIANCE WITH CBI CONDITIONS AND OPENING TO BANKS OF THE WORLD FOR EMPLOYEES & RETIREES!!!!
subgirl says to rcookie():GREAT STUFF!!!
_firefly_ says():RAFIDAIN BANK ANNOUNCES ANNIVERSARY ON 19TH OF MAY CELEBRATE 75TH ANNIVERSARY & TECHNICAL ACHIEVEMENTS NEVER SEEN BEFORE & LAUNCH OF IRONING CARD (MASTERCARD)
Hawk says():Let's see them coins!!!
bowtie says():Ya all knock my socks off!
rcookie says to woodywoodpecker():WOW!!!...
rcookie says to woodywoodpecker():YVW!!..
clay says to rcookie():awesome news
woodywoodpecker says():you all are the best
bibi says():Holy cow! Awesome news! Thank you, Rcookie. (y)
wmawhite says():DOLLAR COIN?????
Hawk says to rcookie():TY for that, SMILE!
JAMVOX says():CBI to provide a dollar coin? When they quit using dinars?
Hawk says():Waited a long time to hear that.
Signman says to rcookie():When you said with the SBA in place get a stopwatch are you thinking it might lead to MR ?
wmawhite says():INSIDE & OUTSIDE OF IRAQ
Marilynjoy says():Yay! Yay! Yay!
Baxter says():employees and retirees? what about everyone else?
wmawhite says to JAMVOX():Translation
rcookie says():ACTUALLY...THAT WAS FOR TIMING THE KURDS SPRINT TO BAGHDAD FOR THEIR $3 BILLION...WHILST THE INK STILL WET ON IMF CHECK....LOL
rcookie says to Baxter():IF YOUR NOT WORKING OR WORKED....NO SOUP FOR YOU!!.....LOL
JAMVOX says():So they are putting out a one dinar coin?
clay says to wmawhite():to do that they would need value
clay says():derwood hey buddy
JAMVOX says():VIP clay if not then the metal in the coin in worth more than it's value.
clay says to JAMVOX():hey...could be
clay says to JAMVOX():silver or gold
clay says to JAMVOX():hoping for the increase though lol
JAMVOX says():Then again how much gold or silver would be in a 1 dinar coin? Then the dinar value must change
clay says to JAMVOX():right
thenextbigidea says():RCookie: that is great news about the Rafidain and the date is tomorrow. WOW
poppy123 says():IMF SAID GLOBAL MARKET ECONOMY IN JUNE ALL THE NEWS IN THE WORLD IS JUST SPECULATION UNTIL WE SEE IF THEY MEET THAT DEADLINE WITH ACTION OR THEY SNUB THEIR NOSE AGAIN AT THE IMF AND WORLD BANK INCLUDING UNITED NATIONS.
THESE THINGS ARE PREPARATION TO MEET THE DEADLINE AND WE DON'T HAVE A CLUE JUST WHAT MUST BE COMPLETED TO MEET THE DEADLINE NO ONE HAS A COPY OF THE LIST .
WE WAIT TO SEE IF THEY GET THINGS THAT ARE NEEDED COMPLETE.
YES ' IF AND WHEN A COIN IS PUT OUT THE RATE WILL HAVE TO CHANGE BUT THAT HAS BEEN SUGGESTED AND PROPOSED SEVERAL TIMES EVEN TWO YEARS AGO. BETTER OFF TO SET BACK AND PRAY TO GOD THEY DEVELOPE FAVOR WITH ONE ANOTHER AND FINISH TALKING AND START DOING. POPPY3
angus says():Thanks rcookie all kinds of good info in that one!
woodywoodpecker says():rcookie, he be one smart cookie
rcookie says():WHO DOES IT MAKE SENSE TO..TO DISCONTINUE A 50 NOTE FOR ABSENCE OF VALUE PURPOSE...AND THEN RELEASE DOLLAR COIN..WHETHER COMMEMORATING 75TH ANNIVERSARY OF 1 OF THE STATE OWNED BANKS OR NOT....
clay says to derwood200335():hey buddy good to see ya
clay says():poppy (y)
viacuda says to rcookie():unless?
clay says to viacuda():unless... lol
clay says to viacuda():maybe to revalue
angus says():rcookie if it was a commemorative coin why would they have to work it out with th CBI?
rcookie says():FIRSTLY.... THEY HAVE BEEN AND ARE TRANSITIONING TO A PRIVATE SECTOR OPEN MARKET ECONOMY AS EVIDENCED FRO PRACTICALLY EVERY NEWS ARTICLE WHICH ARE ABSOLUTELY RELEVANT AND IMPORTANT EVERY SINGLE DAY......
THE ACHIEVEMNT INITIATIVES UNDER THE STAFF MONITORED PROGRAM WHICH LED TO THEIR SUCCESSFUL ACQUISITION OF SBA LOANS ARE COMPLETELY TRANSPARENT AND LAID OUT IN THE IMF LOI/MEFP/TECH MOU IN DETAIL...
AS ARE THE REQUIREMENT FOR ACCEPTING ARTICLE VIII OBLIGATIONS....
AND THE ISSUANCE OF A COIN WHETHER GOLD BACKED OR NOT HAS NEVER....NEVER...NEVER FOLLOWED A CBI ANNOUNCEMENT (1/7/16) OF A DIRECTIVE FOR ISSUANCE
AND THEN FOLLOWED WITH AN ANNOUNCEMENT OF 75 YEAR COMMEMORATIVE COIN BECAUSE THE DATE ISNT UNTIL TOMORROW......NOT APPLICABLE ON RUMORS OF OTHER COINS IN PAST...WHICH DID NOT HAPPEN...
rcookie says to angus():BECAUSE IT HAS A STATED VALUE..
wmawhite says to angus():in addition to what rcookie stated.
mudcat says():I know we have discussed this before but I just heard from a accountant that we will have to pay Ordinary income on the RV. That is anything over $415,000 at 39.60% rate...anyone know anything different...I don't know why the Goverment wouldn't see this as a investment at Capitol gains at %20%?????
jeffusa says to mudcat():it depends on which accountant you ask..... I have asked at least 7 different folks and it is almost equal what they think.... some capital gains some ordinary....
angus says():rcookie or mr. white would it be wrong to think that the next 24 hrs. will be intersting?
jeffusa says to mudcat():I wlll use the one that believes capital gains
mudcat says():Last thing I want is to do it wrong and get a penalty
BGG says to rcookie():That was good news about Rafidain Bank!!
larrykn says to mudcat():I think once this happens the govenment will make it quite clear as to what it will be. as jeffusa says I've heard it both ways
jeffusa says to mudcat():Hillary wants 43-46% capital gains.... come on RV lol
mudcat says():I would assume the Goverment will not be your ally in this...They are greedy ^%$#@
larrykn says to mudcat():I agree, poppy3 as mentions before cashin out talk to a financial advisor , you might be able to put the dinar right into a tax shelter or tax defer investment without cashin it to dollars.
larrykn says to mudcat():I don't know if you can but it wouldn't hurt lookin into it :)
mudcat says():I wondered if there was a way to shelter it in a retirement type fund myself
wmawhite says to mudcat():My CPA says no way!!!! He is also invested and stated to me that there is in "no way that this will be ordinarly income." he also stated that at the time of investment the IQD was not "ordinary' nor "income>"
larrykn says to wmawhite():but then I talked to my cpa and he said ordinary income , it gets confusing just want to get it right
mudcat says():How much is a CPA accountable for his advise if it goes south?...I just don't know how they come up with so different interpretations myself
mudcat says():Me too....I would imagine a penalty would be HUGE!
wmawhite says to mudcat():He also stated,...that you did not go to Iraq on vacation and returned with a huge amount of IQD and it RVed upon your return." The intent of the purchase was "investment" and you were unable to perform ordinary activities with it.
mudcat says():That makes sense to me...but as we all know the IRS is a little on the dicey side(like the KGB)
wmawhite says to mudcat():...........and,......I consulted with a noteable Tax Attorney in Ponte Vedre and guess what he told me..............."capital gaines"........and that he would recommend petitioning the IRS for an opinion.....
larrykn says to mudcat():you can talk to two different IRS agents and get two different anwsers too lol
mudcat says():yes and the higher up the ladder you go at the IRS the more they distance themselves about what someone said to you previously
wmawhite says():It was recommended to me that before doing anything that you consult first with a tax attorney as well as your CPA. You do this before any exchange, any purchases, before anything......
mudcat says():I wonder how we could petion the IRS preemptively?
larrykn says to wmawhite():I did talk to a tax attorney which told me ordinary
wmawhite says to mudcat():My Tax Attorney stated that it could be done at anything time.........just put up the required $20,000+ and he will get started........
mudcat says():LOL....thats sounds just about right....make us pay to find out what the goverment(who is of the people) will take from us
mudcat says():Maybe we should start a company outside the USA and when Trump lowers the rate to repatriate the funds back we can do it that way...LOL
wmawhite says to larrykn():Most tax attorneys believe that a IQD investor is holding the currency electronically........I had to repeat myself a couple of time that I held that physical currency...............
he then got up and started pulling the IRS manuals off his shelfs.............he finally stated that he had never heard of such a thing and that he believed that it would be an investment under the capital gains.
wmawhite says to larrykn():times*
larrykn says():I talked to mine that holds dinar , I not saying your is wrong but it sure be nice to know for sure -- believe me I would love it to be capital gains :)
larrykn says():O and mudcat its 23% for capital gains , we can't forget Obama little peice of the pie :D
_firefly_ says():All I care about is that it goes live already. The taxes are what they will be and will happily pay them !
puffdragon says():I dont see its anything but capital gains, just like any stock its bought on the cheap and appriciates over time then you sell hence capital gains !
Also JMO the ONLY time you have ANY TAX liabillity is at exchange, no exchange no tax liability. Just know what exactly what you need to do at time of exchange so not to get burned by our IRS theves! Just be prepared as its been stated here !
puffdragon says to mudcat():I feel you need patients with this exchange and not get to eager to run to get exchanged. I agree Mudcat, I am giong to look into investing some in the Iraqi stocks, like Construction, mining, electrical, water sewer, companies that will have great growth potential for the begining and sell at some point I feel its right to .