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About iraqiyodaman

  • Rank
    Junior Member
  • Birthday 05/22/1962

Profile Information

  • Gender
  • Location
    North Dakota
  • Interests
    My interest is to cash my "DINAR" out at a dollar or more
  1. What will we do for entertainment now?
  2. Thanks PVS for the links.. Can anyone with a translation program please pot translate and re post?
  3. I can not get an answer to this.
  4. Please read the post, you will see it came from Adams chat dated 20-Apr-11 while he was doing a Q&A session for members.
  5. Adam you made this comment in your Q&A session 20-Apr-11......... [Adam Montana] I'm going to talk about that in my next email, I've received a little more information [Adam Montana] 90 [Adam Montana] % [Adam Montana] of it is public [Adam Montana] the only thing I really have is a perspective from someone in the CBI [Adam Montana] that doesn't mean I have a crystal ball [Adam Montana] but I'll share what I am hearing [Adam Montana] just give me till Friday Read more: I have looked for this update, but not able to find it. Can you or someone please point me to the Friday post? Or are we still waiting for you to receive confirmation? As always THANK YOU FOR YOUR TIME.
  6. Where are these people still coming up with malarkey.
  7. Does the expiration of "Presidential Order #13303" have anything to do with all of this maybe? I mean if it is no longer legal for us to hold dinar what then? Let's face it people this BS is getting out of hand with reasons for and against. The whole place should have been made into a glass parking lot with oil going to the victors.
  8. Where is the attached article the post speaks of?
  9. Please read the information on taxes for currencies bought for investment......... Check this out (sent by Yahoo! Toolbar) PLEASE READ. US Taxation of Foreign Currency Gains or Losses The general rule with regard to the U.S. tax treatment of gains or losses from exchanging U.S. currency for non U.S. currency (and back) is that the gain or loss on the currency exchange will now be taxed the same as the underlying transaction. The Taxpayer's Relief Act of 1997 included a provision [Act Section 1104(a)] that included some changes, which are included in the following explanation. Where there are currency gains or losses in connection with a trade or business or with the management or administration of investment assets, the gain is treated as an ordinary gain (rather than as a capital gain) and any loss is generally treated as an expense. Where currency gains or losses are incurred in connection with the purchase of an investment, the gain or loss on the currency change on realization (usually from selling) is a capital gain or loss and is included as part of the total capital gain or loss on the investment. Currency gains of $200 or less that arise from personal transactions (not for investment or business) are not taxable, but any personal currency losses are not deductible. A personal transaction includes any gain or loss arising from travel even if the travel is business related. Any currency gains in excess of $200 per transaction (per trip or per purchase) are treated as a capital gain. Losses on currency exchanges for business travel also appear to be non-deductible. The primary source of information on the tax treatment of currency gains or losses is IRC Section 988. Tax Treatment from Various Situations A number of my subscribers have presented me with the question of whether certain gains and losses on foreign investments are capital gains and losses and whether any net gains would be eligible for the 15% maximum tax on long term capital gains, if the holding period requirements are satisfied. To answer this question, it's necessary to differentiate between different methods of acquiring an investment position in a foreign investment. The following is a non-technical interpretation of the rules in each of these situations. 1. The investor may purchase a foreign currency in exchange for U.S. dollars and hold the foreign currency as a capital asset. Any gain or loss would be a capital gain or loss. 2. The investor may purchase an indirect position in a foreign currency through the purchase of futures contracts, forward contracts, options or similar instruments, but the purchase is denominated in US dollars. Any gain on an unhedged position would be a capital gain or loss. Where the position involves the use of a hedge that meets the definition of a "straddle' transaction under IRC 1092, the unrealized gain or loss would be recognized as of the end of the tax year. 3. The investor may acquire a debt obligation denominated in a foreign currency. Unless the debt obligation is acquired in connection with a trade or business or an activity constituting the management of investments, any gain or loss will be treated as a capital gain or loss - subject to the provisions of the original issue discount rules. If the debt obligation is acquired in connection with a trade or business or arises from the management of investments (IRC 212) any gain or loss attributable to the conversion of the debt obligation into US dollars would be ordinary income or loss. 4. The investor may acquire an interest in foreign currencies through a trade or business (partnership or proprietorship) conducted in a foreign currency. To the extent that such interests are denominated in a non-functional (foreign) currency, any gain or loss on conversion of the currency to the US dollar would be an ordinary gain or loss. 5. The investor may purchase foreign stocks of publicly held operating corporations with U.S. dollars but the stocks are denominated in a foreign currency. Thus, part of the gain or loss on the foreign stock is derived from the change in currency values while holding the stock and part of the gain or loss is derived from changes in the dollar value of the underlying stock itself. To the extent that the stocks are purchased as investments, the entire gain or loss would be a capital gain or loss - subject to the CFC and PFIC rules. To the extent that any investments in the form of currencies or debt obligations are acquired in connection with the operation of a trade or business (or in connection with expenses incurred in the management of investments) and are denominated in a foreign currency, any gains or losses arising from conversion of the investments or debt obligations back to the US dollar would be ordinary gains or losses. 6. The investor may purchase the shares of a controlled foreign corporation (CFC) and may be (A) an investor with less than a 10% interest in the corporation or may be ( an investor with an interest of 10% or more of the controlled foreign corporation's stock. Assuming the CFC is not also a PFIC (see below), the investor who owns less than a 10% interest in the CFC would not be subject to tax on the current income of the corporation. Any distributions from the CFC would be taxed as dividends. Any gain or loss on the sale of the stock in the CFC would be a capital gain or loss. If the shareholder in the CFC owns 10% or more of the stock of the CFC, then that shareholder must report as current income, his or her pro-rata share of the "sub-part F" income of the CFC. Generally, that would include any passive investment income and certain other kinds of income as defined in IRC sections 951 through 954. Generally, "sub-part F income" does not include income from the operation of a business outside the US. If the foreign corporation has any US source income from doing business in the US, it will be required to file a tax return and pay corporate income taxes on that US source income. That income is therefore not treated as "sub-part F income" that is subject to inclusion in the tax returns of the US shareholders of the CFC. 7. The investor may purchase shares of a passive foreign investment company (mutual fund), which may be (A) a "qualified electing fund" or ( a non-qualified fund. For a qualified electing fund, the taxpayer will report his or her share of the current income of the PFIC in a manner similar to the shareholders of a US mutual fund. If the PFIC is not a qualified electing fund, the US shareholder will be taxed on any distributions from the fund when they are received. Distributions of current earnings of the PFIC will be taxed at the shareholder's regular tax rates. Distributions of accumulated income of the PFIC from previous years will be subject to tax at the highest ordinary income tax rate - which is presently 36%. (It's not clear whether the 10-% surtax for taxable income in excess of $250,000 is also applicable to such distributions.) In addition, the shareholder will be required to pay interest on the deferred distribution. Source: By Vernon K. Jacobs, 2008 - The Offshore Press, Vernon K. Jacobs is a CPA, a Chartered Life Underwriter and a Fellow of the Life Management Institute. He is an international tax practitioner and tax author with a focus on international investing and insurance. He has been a college instructor in accounting, personal finance and corporate taxation, and has been a speaker at dozens of professional conferences and seminars. I LOVE IT !!!!!! GOOOOOOOOOOOOOOOOOOO DINAR GOOOOOOOOOOOOOOOOOOOOOO
  10. I bought 5 mil. from them in early 05. Did not have any problems.
  11. This is a real BUMMER, as I am one of the lost souls trying to leave. I nwas told tonight at 19:00 Baghdad Time I could be stuck here for up to 7 days. The US Embassy is involved but it is a money game. Someone is not happy with their standard of living and holding contractors hostage is a sure fired way to get someone to pay up.
  12. I just received a phone call from a fellow Denarian at home in the states. He has told me as soon as he gets back to his house he would send me a link indicating Obama was in Baghdad yesterday. Does anyone have anything on this? I will post the link as soon as I get it, but hey I wanted to put my first topic post up.
  13. It is illegal to carry Dinar out of Iraq at this time. You can buy it in other countries legally as this is currency sold by CBI. But the currency inside Iraq is kept at bare minimum and the authorities will not allow it taken out by non - Iraqis. I go through BIAP (Baghdad International Airport) enough to know. After it is released (THIS WEEKEND) at a global rate then they will not be able to prevent you from carrying it. They do not really check now and I hope that next week when I leave here for home I do not have any issues, as I have carried some in my wallet for the past 5 years in case it hit and I was on R&R half way around the world needing to travel fast to my safe deposit box. THIS IS GOING TO BE A LONG WEEK
  14. I am tired of playing in this Sand Box as well. Either way I will be going home this month. I hope that the travel through Dubai will be "A LOT MORE FUN" compliments of the RRRRRRRRRRRRRRRVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV.