The Kid

If you are stupid enough to go there ... why would you even be amazed at all that someone would beat you up. And the news media thinks we, the general public is stupid! Really!

I may not have too many posts but I have been the financial business for a liitle over 40 years. I tend to concur with Fummins and the DPV (the newbie). I would love to see a big boom RV but even so, 1) At our present state and with the fall of the US$, 2) the improvement of the Iraq economy with no reason to think that the dinar won't begin to move up This could very well be a good long-term investment RV boom or not!

Sorry ... never heard of them!

I pulled up the first two!

You might want to do some research on this subject. Specifically read the cash-in procedures described on dinartrade.com and dinarbanker.com. Being able to verify the source of your purchase of your dinar is an issue. The banks will verify the authenticity of your dinar but in some instances you will have to prove that you did not obtain your dinar illegally, if you want to exchange them .

The tax consequences of redeeming dinar is not necessarily a simple matter. There are numerous matters to consider and different ways to redeem. Consequently, there are numerous opinions with regard to the tax consequences. That said ... you will pay taxes. At a minimum 15% capital gains tax if you have owned the dinar longer than a year. The maximum (federal only) would be 35%, if you end up having to pay the ordinary rates. If you choose not to pay any, more than likely you will have you room and board paid for by Uncle Sam for tax evasion (assuming you as a US citizen). This can potentially be a very complicated tax issue. Choose a good tax advisor wisely.

1 US $ is equal to 28.12 percint of a kwd. 1 Iraqi Dinar is equal to 1 percent of a kwd. So $,2812 US dollars goes into KWD 3.556 times or 1 KWD is worth $3.56 US Dollars An Iraqi dinar is worth 10 percent of a KWD. So 10 Iraqi dinar would equal a one KWD. So using the above, If $3.56 US dollars equal 1 KWD, it also equals 10 Iraqi dinar Thus an Iraqi dinar would be worth 10% of the $3.56 or in other words ... $0.36 US Dollars Thus a million dinar would be worth approximately $356,000 US dollars Thus a 100,000 dinar would be worth approximately $35,600 US dollars etc. Blessings

Thanks Alice! I laugh when I see TK's predictions as well but he does provide entertainment. I for one will be glad and rejoice with him ... the day he is right!!!!

Would you mind dropping by a Chase branch and having a similar conversation with one of their assistant managers? Thanks!

I would concur ... I was involved with and researching the Dinar long before I found this site.

There is an ongoing debate as to whether the dinar will qualify for capital gains (15% tax if you have owned them over a year) or will taxed at the ordinary income rates of 35%. Some say that the ownership and sale of non-functinal currency (Iragi Dinar) is not a capital transaction and thus will be taxed at the 35% rate specifically citing (IRS sec 988). There is also a group who believe their conversion will be taxed as an exchange of commodities using a blended rate of approximately 23%. That said, it is important that you consult a tax expert or two before you making your decisions. BTW the ones who say we don't have to pay any taxes will probably be getting free room and board compliments of our on government! Happy New Year!

There are 23,000+ other members on this Board. If you are going to stay around, you are probably going to have learn to put up with a little diversity. Blessing and Happy New Year!

Shouldn't this go in the Humor instead of Rumor section?

Dinarbanker went up by $40 per million.

If you sold your wife ... who would spend your money? :-)