powerofprayer wrote on August 27th, 2013, :Good morning Fam,
After listening to last nights CC, I was thinking about the POSSIBLE SITUTAION. If the banks are going to be charging a POSSIBLE 30% spread then please correct my math if I am incorrect?
Possible 30% spread + 2 - 39% tax (higher tax bracket) + POSSIBLE devaluation of US Dollar of POSSIBLE 50%. What does that leave us with?
Just a thought. I await your feed back and comments.
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ZOCHOWSKI: MORNING "POWER OF PRAYER"
AS I WAS NOT ABLE TO LISTEN TO THE CC LAST NIGHT I WAS ABLE TO READ THE NOTES.
WHEN I SAW 30%, TO BE PERFECTLY HONEST, I USED SOME PROFANITY.
YES, THIS TURKEY DOES HAVE THE SLIP OF THE TONGUE, AND THEN REREAD WHAT I SAW.
DO I DISAGREE??? AGAIN, TO BE HONEST, YES.
NOW AM I CORRECT????? AT THIS POINT, I DONT KNOW.
JUST FOR THE SAKE OF CONVERSATION LETS GO WITH THE "IF'S" OF WHAT WE DO KNOW,
CONSIDER THIS "FOR ENTERTAINMENT PURPOSES ONLY".
1. IF CAPITAL GAINS ARE APPLIED, WILL THEY BE 15% TO 20%????
2. IF A ADDITIONAL TAX IS IMPOSED, LETS SAY OF 10% TO 15%, WOULD THIS BE OUR PERSONAL GAIN BASED OFF OF NET INCOME?????
3.IF THERE IS AN "EXCHANGE FEE" IMPOSED, WHAT WILL THIS BE????
4. HAVE BILLS/LAWS BEEN WRITTEN/VOTED TO "TAX" AN "EXCHANGE"????
5. WILL THIS BE TREATED LIKE A "LOTTERY WINNING, WHERE IF YOU TAKE THE FULL AMOUNT YOU ARE TAXED AT WHAT, 48% LEFT WITH 52%, OR IT IS THE OTHER WAY AROUND???
REMEMBER, THIS WAS USING ONE MUCH LESS VALUED CURRENCY "EXCHANGING" TO GET A MORE VALUABLE CURRENCY, THE UAE CONVERTED TO THE KUWIATI.
WAS ALSO DONE IN A SHOPPING CENTER, IN ANOTHER COUNTRY I GATHER, BUT DO NOT KNOW.
AS SUCH, DO WE REALLY KNOW HOW "EXCHANGES" WORK THERE???
ARE THE RULES DIFFERENT????
ARE ADDITIONAL "FEES/COSTS" INCLUDED????
HAVE HAD PROFESSIONALS TELL ME QUITE LITERALLY, YES THEY CAN TAX, AND NO THEY CANT TAX AN EXCHANGE AND HAVE HEARD ALL SORTS OF NUMBERS SO FAR, WITH NO REAL CONCLUSIONS.
PROBLY SAID TOO MUCH ALREADY.
TAKE CARE N JUST SAYING, M/Z