[tazbigart] will they take a cut of the about i cash in?
[DT N AZ] make an appointment with them so they can be ready
[millionday] the rate of their currency in the past when they were not under sanctions brought around an average of 3 usd at most given times --
[schmidtberger] yes, they will likely take a small percentage
[millionday] the rate now was imposed due to the damage to kuwait by the UN
[millionday] now those restrictions have been lifted and we are in great hope of a return to a rate that is close to what their known and past gdp brought
[millionday] tazbigart there will be a fee and what some call a spread due to the fact that the sale of money is a huge market in itself
Read More Link On Right
[tazbigart] according to the bank of iraq sell for us is 1166. this is the us dollar correct or is it the price the dinar sells for in the us?
[wilbur48] millionday tell us what you saw on the UN video
[schmidtberger] tazbigart ...most of the national branch banks will be able to cash out, but many locally owned banks will not...make sure you call and ask your banker first.
[millionday] also there will be a tax -- you need to contact a professional in your area or out which ever to make sure you comply with all federal and state laws
[millionday] i use a reputable and trusted company named -- dinarcorp.com due to the customer service and also their programs they have developed for investors like ourselves
[schmidtberger] millionday ...both income and windfall profit taxes, right?
[millionday] your choice is your own -- but you will need to take the time and be aware of how long you have to exchange the currency as in any investment -- you will have to take the time to come in and also call professional wealth managers ect to make sure you gain from your investment when the time comes that it is possible
[dlherm] Capital gains tax in canada
[schmidtberger] windfall profit and capital gains are same, i believe
[millionday] we at pi are not the ones to call it everyday and we dont go by rumors but when it is in ink -- we will inform you of the rate gain when this occurs smile so welcome to our site -
[dlherm] Schmidtberger. In canada we don't pay tax on windfalls such as lottery winnings etc
[millionday] we love questions and we love participation -- you will never be disliked for either -- and this includes your opinion
[schmidtberger] tazbigart ...in other words...when millionday says it you can take it to the bank...literally
[creativethinkersclub] schmidtberger sure does!!!!!
[schmidtberger] dlherm ...sounds like i need to move to canade
[millionday] wilbur48 it good lol
[dlherm] Schmidtberger. yup!!
[millionday] thanks hun – great let me check to see what we have brb
[brett123] millionday with iraq coming out of chapter 7 yesterday why would their stock market take such a hit yesterday dropping almost 8 points ?
[millionday] Rapporteur of the Committee on the economy and investment parliamentary Mahma Khalil stressed that the exit of Iraq from Chapter VII of the UN Charter, it is poised to recover economic development in the region.
Khelil said in an interview for "Center Brief for the Iraqi Media Network," that "all obstacles that face Iraq on economic issues and finance will be gone by the end of sanctions, "noting that" Iraq has all its legal obligations and financial obligations to the UN Security Council resolutions and exit from Chapter VII would enable it to regain its real economy in the region.
[millionday] smile that explains what will happen and i like it brb with more
[onthewings] millionday didn't we have articles saying that they intended to revalue after chapter 7 was lifted ? and at the 1990 rate or so ?
[millionday] Counting the Secretary-General of construction Jihad, MP Hassan, Iraq's exit from the provisions of section VII of the new Iraq victory and the restoration of the prestige and leadership role in the world.
He said in a statement received (News Agency) a copy of it: that a Security Council vote on Iraq out of Chapter VII in the end and the beginning of a new one, the previous stage has been characterized by more restrictions and the embargo and international sanctions that Iraq has suffered for more than 20 years.
[millionday] onthewings yes
[millionday] He said in effect: that out from the provisions of regulation VII represents a new start for Iraq without any restrictions on his movement and economic and policy at all levels.
The UN Security Council voted unanimously Thursday to resolution No. 2107, which come out of Iraq the provisions of Chapter VII of the Charter of the United Nations and the United Nations Special Coordinator responsible for my missing Kuwaiti property, and transfer the Security Council under resolution my missing Kuwaiti property under Chapter VI to the work of the United Nations Assistance Mission for Iraq (UNAMI) and kept under review by the UN Security Council.
[The s family] Did we already talk about the IMF 30 days to comply article?
[dinarmamma] The s family no not yet I am looking on IMF site but I am no millionday thats for sure
[The s family] I don't understand most of this stuff without people explaining it! Even then it can still be hard
[schmidtberger] The s family ...I was going to ask the same question....
[Rudie] Believe Millionday said it was a document they signed not an article
[lorijeanmarshall] Rudie Yes, it was a document
[brett123] Rudie it was
[lorijeanmarshall] Not an article
[The s family] Even better!
[Rudie] yep! thx!
[millionday] Warned Committee member Deputy oil and energy//Susan Saad, of differences between the Governments of Erbil and Baghdad after the arrival of a number of international companies to contract with Kurdistan regarding oil exploration.
She said Al-Saad (News Agency): global companies to Kurdistan for the purpose of the contract for exploration and extraction of oil return problems between the Governments and federal, to find solutions to any crisis occurs in the public interest.
She added that the oil wealth is the property of all the Iraqi people and by the population of each province and that the Iraqi Constitution, noting that joint committees formed to develop solutions and overcome the obstacles between the Governments of Erbil and Baghdad regarding the extraction and export of oil in the region.
[dinarmamma] Rudie thanks thats what I thought too
[millionday] so i have been looking for the document and im cross eyed so i will find it later - it is saved on here somewhere for my own archives- understand that they are not and i repeat --- NOT-- over there sitting on their hands
[dinarmamma] Thanks millionday!!!!
[millionday] yw all the time hun i will get it to you when i find it so you save it hun - many contracts go into effect on july 1st so all we can do is watch and wait for the right news
[millionday] now the news today is all about what happened yesterday and we know what happened
[JPA] Million: will you still be around after this is all done? I hope so...
[millionday] i think that the imf document of their plans is in the forum ] oh yes i will be around
[letsroll] tiger_ag ... before yesterday so much of the news was dominated by art. about getting out from under 7 sanctions.... we wait cheers
[schmidtberger] millionday ...if it helps, posted 12:57pm yesterday
[millionday] which is hun?
[schmidtberger] where you mentioned the imf contract
[The s family] I have a question about contracts. It seems as though I've heard contracts going into effect previously. Where they just put on hold the other times?
[millionday] oh that does help thanks hun
[schmidtberger] printed it off yesterday so was looking at it
[millionday] they were mou and on credit ect ect and some of the issues with chapter 7 did not allow the best technology and no flight of product arrival ect ect
[millionday] companies want to move there and move products out sell there and all around there were road blocks for this that and the other due to sanctions -- now the move is on smile
[The s family] Wonderful!
[millionday] very i am going to be back at newstime and i will have a load then due to the changes of today -- so i will be back and should be back way before too
[millionday] 1 April 1978 -16 October 1982 hard peg, 1 Iraqi dinar = US$3.3778 International Monetary Fund, Board of Governors, Resolution No. 31-4, 30 April 1976 ("Second Amendment") The system of gold par values officially ended by agreement of IMF members. RR: Managed float / parallel market from January 1982. 17 October 1982 -1994? hard peg, 1 Iraqi dinar = US$3.2169 Devalued by 5%.
A currency confiscation occurred on 5 May 1993 as Iraq withdrew 25-dinar "Swiss print" notes from circulation (Iraq, decision of cabinet and Revolutionary Command Council, 2 May 1993).
Notes were exchanged at 25 new dinars = 25 old dinars until 10 May 1993, but Iraq closed its borders to prevent foreign holders from repatriating the notes during the redemption period. After the period was over, the notes became worthless in areas controlled by the government of Saddam Hussein.
The 25-dinar Swiss-print notes continued to be valid in Kurdish areas, which since the Persian Gulf War of 1991 had become de facto independent. RR: Managed float / parallel market. Multiple rates in 1982 and 1983.
[millionday] 1994? -29 June 2001 hard peg; 1,750 Iraqi dinars = US$1 The IMF source shows this exchange rate as of 1994 but does not say when it began. Iraq released little information to the IMF after the 1991 Persian Gulf War. RR: Managed float / parallel market to December 1997, when data end.