Post From Wealthwatch.world Chat Room 8-3-15
Wealthwatch Evening Chat 8-3-15 Part 2 of 2
chattels: Query ? Who believes that tariffs only apply to exports ?
Sassy: ‹@chattels› As of now I do
Donnie: ‹@chattels› i don't. with all those trucks and cargo ships waiting to cross the border INTO Iraqi.
Sassy: ‹@Donnie› Have they let all that cargo in or is it just waiting?
Donnie: ‹@Sassy› i haven't seen an article that they are let in yet.
Sassy: ‹@tipsyterror› Correct tarrifs
Donnie: probably waiting for paperwork to be completed - can u just imagine the bottleneck at the borders now?
Sassy: ‹@Donnie› so ntil then not so sure about the tarrifs
Sassy: ‹@Donnie› no a real mess. All new job for ppl
tipsyterror: ‹@BOBBY› well yeah the part that was supposed to happen pre-RV was successful... until it wasn't. LOL
BOBBY: if it rv ed and someone had a shop full of dinar ???????
Dianne777: so did the tariffs happen?
tipsyterror: they were apparently implemented Saturday
tipsyterror: but not sure if they have started collecting them yet
Dianne777: hummmm anyone thinkin we are lookin for the rv?
Donnie: goldprice.org/gold-price-... gold at a new 5 yr low
chattels: 3-8-201502 Baghdad / Iraq News Network revealed Prime Minister Haider al-Abadi, Monday, for lack of a cash reserve with the Iraqi government, pointing out that previous governments spent all Abadi reserve.
He said in a speech at the first Conference of coexistence among young people: "There is no cash reserve Since the Iraqi government received the prime minister last September, "adding that" the previous government spent all reserve. "He added Abadi, that" oil revenues amounted during the first half of this year, 23 trillion dinars, of which 21 trillion went to salaries. "
And it began to work in the capital Baghdad, the first Conference of coexistence among young people, on Monday, in the presence of Prime Minister Haider al-Abadi, state institutions and the United Nations organizations and local and international civil society.
chattels: aliraqnews.com/%D8%B3%D9%... LINK
whitelions: Abadi: the Maliki government "spent" all Iraqi cash reserves!!! Baghdad / Iraq News Network revealed Prime Minister Haider al-Abadi, Monday, for lack of a cash reserve with the Iraqi government, pointing out that previous governments spent all Abadi reserve.
He said in a speech at the first Conference of coexistence among young people: "There is no cash reserve Since the Iraqi government received the prime minister last September, "adding that" the previous government spent all reserve.
"He added Abadi, that" oil revenues amounted during the first half of this year, 23 trillion dinars, of which 21 trillion went to salaries. " And it began to work in the capital Baghdad, the first Conference of coexistence among young people, on Monday, in the presence of Prime Minister Haider al-Abadi, state institutions and the United Nations organizations and local and international civil society. SOURCE translate.googleuserconte... LINK
whitelions: so they all got paid and no work got done sounds just like here lol
chattels: ‹@BB824› probably an isolated scenario and limited to my circumstances
Staner: If you lived in a condo..and all reserves were spent, there would be another assessment...time for an RI?
whitelions: ‹@BB824› and as far as an inpact on the dinar rv what happen between WF and Chattels iraq dose not care they will rv and WF will take Chattles money if he chooses to go there
BB824: our lovely greedy world
BB824: or should I say nasty
BOBBY: can someone explain how WF s name can be used on the dinar calls?
Staner: Whitelions..agree..WF has a very long and bipolar approach to this currency
whitelions: ‹@BB824› not all if thats all you choose to see thats all you will ever see
BB824: once it becomes an international live one all the majors will take
BOBBY: Chattels.... any luck on that site?
BB824: Banks are not gonna hold much of money just the minimum I need them to
Staner: BB824...Majors and minors...if they exchange international currency now, they will exchange IQD
BB824: once live oh yes
BOBBY: banks will make money on this..... plain and simple
whitelions: ‹@Staner› your right on that there is not a bank out there that dose not want to make money and they will make millions off the dinar from people that don't have enough to wave the spread
BB824: wave the spread ?
Staner: Whitelions..ditto..but not until 2011
BOBBY: whitelions..... do you think banks would wave a spread?
whitelions: ‹@BOBBY› if you have enough dinar that they want most of it in their bank so they can up their lending power
Donnie: ‹@BOBBY› lol lol lol
BB824: aaaah Gotcha
Donnie: ‹@Donnie› sorry - banks are greedy
Staner: Almost all negotiable with banks
[08/03/2015 10:26:02 PM] BB824: no never lol
BB824: never greedy lol
BOBBY: Should be interesting, , bank spread, taxes, obamacare tax...
whitelions: tax depends on how long you have owned it and can prove it how much money you made the year before obamacare dose not figure into it
BOBBY: whitelions... correct me if i am wrong please... capitol gains over 250 000 are taxed
Staner: Expect anything over 10mm, spread disappears...especially if $ left in over 12-18 mo...long enough for the bank to work your cash to make up for their lost spread
Staner: Taxes, and if Obamacare..not negotiable
whitelions: ‹@BOBBY› no alot less than that I have to go back and look it up again and I forgot about state tax lets not for get that lo I must be getting tired lol
tourman: ‹@whitelions› so if I bought 10 million pesos and exchanged them for USD i would be taxed?
Staner: Long term vs short term cap gains?
BOBBY: whitelions.... lol no problem. i know there was a tax law on caitol gains buried in the obamacare act
whitelions: ‹@tourman› I don't know the rate on pesos so I can't tell you
tourman: its a currency exchange, not an investment... No connection between the two. I have looked this up and down thru the IRS... No information exists on profiting from a currency exchange.
tourman: Even if I held onto those pesos for 10 years would I be taxed if I made a profit
tourman: I am still going to hire a professional to make sure, but I have a feeling I am correct.
BB824: ‹@tourman› correct about?
tourman: not being taxed on a currency exchange
BB824: so you stating no tax at all?
whitelions: ‹@tourman› well I'm willing to find out now if iraq would do their work and get it done we would all know lol
tourman: Not from what I have found. If you are a currency dealer you will be taxed because you are selling a product
tourman: ‹@whitelions› amen
BB824: Tax or no tax, I just want profit and over with
tourman: ‹@BB824› PLEASE counsel with a professional though
Staner: Tourman.. Advice varies wildly on this...as you know..I would expect that the IRS will always get its piece of the pie..and be delighted if wrong..and yes..let a professional work it through
whitelions: ‹@BB824› I believe there is but we will all find out in the end but please don't take my word do your own home work that way you know for sure
BB824: ‹@tourman› oooh I will, have family in the business of it
chattels: No tax is confiscatory. The taxes will be what they will be. Hire a tax lawyer when our day if liquidity arrives. It is the privilege of every tax payer to avoid taxes. Evading taxes is illegal, but avoiding paying unnecessary tax is one of the keys to building wealth.
tourman: ‹@Staner› xactly... But my research of tax codes shows no tax on this type of transaction
BB824: My sister has been in the high level of a major bank for 27 years
tourman: ‹@chattels› agreed. As I stated above, counsel with a professional
whitelions: ‹@chattels› I believe an esteat lawyer would be better b/c he has to know about taxes and assets
TxBrand: im hiring someone to do the paper work for everything...im so tried of this mortgage ... 116 pages I just printed :cwy:
tourman: ‹@TxBrand› lol
BB824: The one thing my sister did tell me is that no one will know the exacts, until happens
Staner: Tourman...sure would be great! "Found Money" ;)
whitelions: ‹@BB824› your right
BB824: She is heavy invested in this and so are 3 along side and some above her
tourman: ‹@Staner› I love nothing more than keeping my $... But if I do owe the guvment... Then I will pay
tourman: I will make enough on my investments of this $$ to pay for those taxes
Staner: Tourman ....ditto...without even a grudge
BB824: She was very strict on the fact of keeping all receipts and proof of purchase
BOBBY: can not see how there wont be taxes
whitelions: me too but like trump said (and it's the only thing he said that makes sence ) I'll pay the least that I can
tourman: ‹@BOBBY› again, I have found no IRS code or revised codes to support that.. We shall see.
whitelions: ‹@BB824› thats for taxes
BOBBY: whitelions....LJ said it best
BB824: ‹@whitelions› makes sense
TxBrand: ‹@tourman› hubby had to run to the store for more paper... he is sick of it too,,,i think both of us would just rent if we had not gone this far
chattels: Only rely upon a written opinion from a qualified and insured tax representative / professional.
BOBBY: tourman... i agree... hope your right though
whitelions: yes and he would know he right's trusts for a living
BB824: ‹@chattels› yes very true
BB824: good point
chattels: ‹@tourman› understood
whitelions: ok people 5 am comes fast good night sleep well and dream big :grin:
tourman: ‹@whitelions› gn
BB824: Being raised around a banking family, I dont like banks..lol sorry to say
BB824: I am the only one in 5 thats NOT in the business
BB824: Thank God...lol
Staner: Whitelions...same here..GN all
tourman: ‹@chattels› its not that I worked hard for the dinar I have, I have suffered the ups and downs for that last 6 years on this though and dont want to let any of it go to a corrupt government. Or as little as possible
tourman: ok. i got that out of my system. GN all. lol
BB824: Be well
BOBBY: tourman. ... good night
chattels: ‹@tourman› I share some of your contempt for our present government, but at the end of the day, I am a patriot and will choose no other citizenship.
chattels: (IraqiNews.com) al-Anbar – The president of the reconstruction commission in the provincial council in Anbar, Khalaf al-Tarmoz, revealed on Sunday, that the ISIS organization had destroyed 80 percent of the infrastructure in the province.
Al-Tarmoz stated in an interview for IraqiNews.com, “Since the ISIS seizure of Anbar province in the end of 2013 and until now, the organization had struck all the infrastructure in the province,”
pointing out that, “The proportion of what was destroyed in the infrastructure amounted to 80% in different sectors including bridges, electricity, health, water and education.” He added, “Anbar needs large amounts of money to rebuild the infrastructure in the province.”
BB824: Dinar Revaluation Schemes Probed By FBI
Donnie: Puerto Rico just defaulted for the first time
Donnie: The commonwealth paid a mere $628,000 toward a $58 million debt bill due Monday to creditors of its Public Finance Corporation. This will hurt the island's residents, not Wall Street. The debt is mostly owned by ordinary Puerto Ricans through credit unions.
Donnie: read the rest here: money.cnn.com/2015/08/03/...
chattels: Expectations of an economic downturn because of taxes and customs tariff application 2015-08-03 BAGHDAD / JD / .. Iraqis economists predicted Association, an economic contraction in the country because of taxes applied to the telecommunications companies and some of the services and the imposition of customs tariff and duties on imported goods, noting that the time is not appropriate for the application of these decisions.
chattels: Today's KRG statement clarifies value of independent oil sales: More than what KRG currently gets from Baghdad, less than budget stipulation. Upshot of KRG msg: Still better off being partially subsidized by Basra than fully reliant on own oil export but difference is becoming less. - Reidar Visser
chattels: twitter.com/reidarvisser https://twitter.com/reidarvisser
chattels: From September 2015 onwards, the Kurdistan Regional Government (KRG) will on a monthly basis allocate a portion of the revenue from its direct crude oil sales to the producing international oil companies (IOCs), and as export rises in early 2016, the KRG envisages making additional revenue available to IOCs.
chattels: At the start of 2015, the KRG reached a deal with the federal government in Baghdad to export crude oil in exchange for regular payments of the Region’s 17% revenue entitlement. The arrangement was enshrined in the 2015 federal Iraqi budget.
chattels: However, due to a number of factors, the federal government has to date been unable to provide the Kurdistan Region with its monthly budgetary dues. As a result, the KRG has been obliged to introduce direct crude oil sales from Ceyhan to help pay Kurdistan Region’s governmental salaries, maintain vital government services, and of course, pay the Peshmerga and other security forces who are fighting Islamic State terrorists.
chattels: Read more @ mnr.krg.org/index.php/en/...
chattels: Statement by Ministry of Natural Resources regarding the producing International Oil
chattels: Archaeological excavations in Iraq continue despite security chaos NASIRIYAH, Iraq — At the beginning of February, a British archaeological excavation mission unveiled at the ruins of Ur a large trade center that is the oldest in the world, going back to the Old Babylonian period (2006-1595 BCE). Ur is a historical site in Sumer city mentioned in the Old Testament and located in Dhi Qar province, 375 kilometers (233 miles) south of Baghdad. Read more: www.al-monitor.com/pulse/...
chattels: Looters find path to export antiquities via Lebanon The Middle East is the oldest region in the world. It goes without saying that it is greatly rich in historical symbols of the many civilizations that have lived there throughout time, whose people left remnants marking their existence.
This made the region a permanent stock for artifacts of various sizes and types, turning it into a focus point for traders and smugglers from all over the world. Read more: www.al-monitor.com/pulse/...