KristiD

YIKES!! I have no idea if this IRA custodian company is typical. But if I did have anything in my IRA that was being held by a custodian company, this would really concern me. fyi ps: mods, this is not a dinar site. This youtuber covers cryptos and metaphysical things. This audio is only about IRA Custodian Companies.

So I was thinking about this some more and it occurred to me that just because they're at a "restricted" float now (assuming that's true, though I still haven't been able to verify that the Deputy Prime Minister said that they are per my post at the top of this page 2), that doesn't mean they won't bump it up in the future. It does seem safest for Iraq to first determine if they are able to control the transition from a pegged/fixed rate to a market rate. If they did bump it now to to say just $.10, that's more than a 100X increase - which is a huge change. They're much more likely to be successful in figuring out how to manage the rate when begins to float, if they don't rock the boat any more than necessary. A bump of over 100 times is like a tsunami. So now in hindsight, it maybe wasn't realistic for us to expect them to bump the rate first, before they're confident that they'll be able to control it. So starting the float from where they are right now makes sense and is the best choice, imo. That said, I do think Iraq wants to bump the rate, and significantly. The Iraqi youtuber I follow thinks it will be over US$1 and ultimately back to over US$3. He says Iraq wants their currency higher than the USD, and I can appreciate why they'd want that. I don't know if they'll bump it to US$1+ first thing, it may take them a few bumps to get there (or maybe not), but in thinking about this more, I think that's the best way for them to do it. And Iraq is bringing in investment, and that's hard to do with a currency that's almost worthless. So I think think they're pretty motivated to move this along. The monkey wrench in this is that since the protests 2 years ago, they have been able to stable the fixed rate to the black market rate. I've been in this 12 years, and I don't remember seeing such big differences between those two rates in the first 10 years I've owned dinar. They lost control of the +/-1160 figure they had for years. And now they're still struggling to control it at 1310(which is why they banned the USD). So now I'm thinking (and hoping) that with this USD de-dollarization, soon they'll get control of the rate again with this "restricted" 5% float. And once they feel they are in control of managing that, they'll start letting it change more than 5% and/or maybe gradually let the rate increase from there. And if they can maintain control with those changes, then hopefully they'll give it a nice bump, maybe even US$1+, or at least something significant that we'll want to exchange at least some of our dinar. Anyway, that's my thinking today. jmho

Just to clarify why I, and others, see this as potentially the beginning of the RV. It seems like some others don't see what we see so I want to explain why I'm so excited about this. Iraq must have a stable currency before it starts to change the rate. If it can't maintain a stable rate now while it's almost worthless, how could it have any hope of maintaining a stable rate when the rate is allowed to rise? Iraq has been working hard to stabilize their currency (which, for the last couple of years, has been varying a lot between the CBI rate and the black market rate), and with this move (making people and businesses only use dinar), they're taking a big step to do that. While we all hoped Iraq would start with a bump (starting at $0.10 as Adam thinks or hopefully a lot higher), there has always been the possibility that Iraq could start with a float at the current rate, and then let it gradually go up from there. Now It looks like Iraq has chosen the later. I see the advantage in doing that since it surely is less risky, even though of course I'd prefer a big bump and then the float. But at least, after 12 years, it's some movement an I'm excited and thrilled to see this. So the Iraqi youtuber I follow posted the following today. It's from the Deputy Prime Minister and Minister of Foreign Affairs (I believe he is Fuad Hussein), who supposedly gave a press conference yesterday, and the youtuber posted a screenshot of the translation, which I copied below. He did not provide a link and does not read replies or accept messages, so I can't ask him for a link. But I'm hoping some good Iraq newshound here (like yota?) could find the article so we can verify it's true. I tried to find it myself for almost an hour, but couldn't. Anyway, The Deputy Prime Minster said the CBI has loosened its control of the IQD rate and now will only step in to stabilize it if the rate varies more than 5%, whereas before, the CBI strictly kept the rate fixed. If this article is true, then I say the CBI has already quietly moved to a "restricted" float - and I think that's the beginning of our long awaited RV. Although we all wanted a bump in the rate, I actually think this is a wise move, as we certainly don't want wild swings in the rate with the possibility that the whole thing falls apart and Iraq fails in its effort to successful RV the dinar. I do think this article is likely true because I trust the youtuber. But I still need to verify the source to confirm that, because if the source is unreliable, I won't believe it. And If we can verify that this article is true, then I think it means our train is taking off, albeit slowly, but at least it's finally starting to move. I have no idea how long it will take for the rate to significantly rise to a point where we'll want to exchange our dinar; we'll just have to watch this unfold and see. But first, we need confirm if the below statement is true and that the CBI is already letting the dinar vary/float with the market a little. And then, we need to watch this unfold and see if the CBI is able maintain control and manage the process of letting the rate slowly rise to the true market rate. Also I do not expect the CBI to allow the rate to rise much in the beginning. I think that will happen later after the CBI feels confident it has control over the process. So these are my current thoughts about all this. And any comments or discussion of my reasoning will be appreciated!

Wowzer! I follow an Iraqi youtuber who reported today that the dinar is now floating, but he gave no source for the information, so I was skeptical. But then I found the following article just now, so I came here to see what people are saying. Thank you 6l6410 for starting this thread!! Below there are more details about how this new law banning USD will work in Iraq. I think this is fantastic news! If Iraq is successful in de-dollarizing, I would think the IQD will have to start floating with the market and stop being pegged at IQD1310 to US$1 by the CBI. What do other people think? Interesting that this happened Sunday, but reports are just now coming out late Tuesday. I wonder how well this is working so far... I just checked CBI.IQ and the rate today is still 1310. But wow! I think and hope this if finally the start of our long awaited RV! I just read an article a few days ago that Iraq is the 3rd largest producer in the Middle East (including everything, not just oil). Surely their dinar is worth a lot more than the current stated value of .00076 of $1USD. If the de-dollarization is successful, I wonder how fast the IQD will start to rise... USD https://thecradle.co/article-view/24880/iraq-bans-us-dollar-transactions-in-latest-move-towards-de-dollarization Iraq bans US dollar transactions in latest move towards ‘de-dollarization’ The Interior Ministry has said that violators of this ban will be subject to legal punishment, including fines and even jail time The Iraqi government issued a ban on 14 May outlawing the use of the US dollar for both personal and business transactions, coming as part of a growing ‘de-dollarization’ trend and an overall decline in Washington’s economic influence. The ban was enforced on 14 May and aims to boost the use of Iraq’s local currency, the dinar. It is also designed to reduce the gap between the official government exchange rate and the exchange rate offered by the black market, which continues to fluctuate and has resulted in price surges. In a statement, the Iraqi Interior Ministry said: “The dinar is the national currency in Iraq. Your commitment to transact in it instead of foreign currencies boosts the country’s sovereignty and economy.” The ministry added that anyone dealing in currencies other than the local currency would be subject to legal punishment and said that it is committed to “hold accountable anyone who attempts to undermine the Iraqi dinar and the economy.” In order to properly enforce the ban, the Interior Ministry’s Crime Directorate has requested that traders sign agreements assuring the government that they will conduct transactions in local currency only. According to General Hussein Al-Tamimi of the Crime Directorate, violators of these pledges will be forced to pay a fine of one million Iraqi dinars, adding that repeat offenders may be subject to prison time. “If the violator repeats it, he will face an imprisonment penalty of up to one year plus a one-million Iraqi dinar financial fine. In case of a third violation, that penalty will be doubled, and we will have the business license turned,” the official added. US dollars are already scarce in the country’s official markets as a result of recently imposed measures by Washington to control the movement of dollars inside Iraq. While the new government of Mohamed Shia al-Sudani has moved swiftly to contain the financial fallout, these US policies have given rise to a debate inside Iraq about the benefits of de-dollarization. Iraqi MP and member of the Finance Committee in Iraq’s Council of Representatives, Hussein Mouanes, told The Cradle in an exclusive interview earlier this month that “Iraq has been and continues to be a slave to the US dollar … every country’s economic strength depends on the strength of its currency.” “It is clear that Iraq is economically dominated by the US, and our government does not truly control or have access to its own money … We believe that it is crucial to move away from the hegemony of the dollar, especially as it has become a tool to impose sanctions on countries. It is time for Iraq to rely on its local currency,” he added.

Awesome news!!! Read my latest post on the "Default IRS Currency Exchange" topic in the Tax section. LINK

Wow! This thread was started in 2007 and the last post was 2017. Finally, there is GREAT NEWS about this! The IRS has now specifically addressed the taxable gain on personal foreign currency transactions. Their most recent publication (2022, and there is no 2023 version yet) states that it is taxable as CAPITAL GAINS! You can't get more definative than this!!! https://www.irs.gov/pub/irs-pdf/p525.pdf Page 34, top of middle column states: Foreign currency transactions. If you have a gain on a personal foreign currency transaction because of changes in exchange rates, you don't have to include that gain in your income unless it's more than $200. If the gain is more than $200, report it as a capital gain. The current capital gains rate is a maximum 20%. Per the IRS ( https://www.irs.gov/taxtopics/tc409 on the first page): A capital gain rate of 15% applies if your taxable income is more than $41,675 but less than or equal to $459,750 for single; more than $83,350 but less than or equal to $517,200 for married filing jointly or qualifying surviving spouse; more than $55,800 but less than or equal to $488,500 for head of household or more than $41,675 but less than or equal to $258,600 for married filing separately. However, a net capital gain tax rate of 20% applies to the extent that your taxable income exceeds the thresholds set for the 15% capital gain rate. There are a few other exceptions where capital gains may be taxed at rates greater than 20%: The taxable part of a gain from selling section 1202 qualified small business stock is taxed at a maximum 28% rate. Net capital gains from selling collectibles (such as coins or art) are taxed at a maximum 28% rate. The portion of any unrecaptured section 1250 gain from selling section 1250 real property is taxed at a maximum 25% rate.

and now this.... https://www.foxnews.com/politics/defense-secretary-lloyd-austin-unannounced-visit-iraq Defense Secretary Lloyd Austin makes unannounced visit to Iraq highlights: ... Austin is the most senior official in the Biden administration to visit Iraq. He was the last commanding general of U.S. forces in the country after the invasion. ... Austin will meet Sudani and President of the Iraqi Kurdistan Region, Nechirvan Barzani, amid a long-running dispute over budget transfers and oil revenue sharing between the national government and the Kurdish government.

LINK

Alrighty then! Understood!! Alas, I guess a lot people do not read what I post. A little sad to learn, but at least I know where I stand now. I am VIP but this particular issue is about "Politics", and that section is only in the general/free forum. I had actually suggested a second solution, which was to add a "Politics" topic in VIP, but I guess no one read that post either. Oh well.......

Her final words are telling... "Democrats like to ruin your life." So true, so true....

So I understand Johnny Dinar/BostonAngler has now been banned. But GEEZE! I was the one who started the thread and that's not what I asked for. @Adam Montana, I know you're busy and you probably didn't have time to read this whole thread, so it looks like you just read the comments made by the more esteemed members here. But how about something for us regular folks too? A lot of folks here have the same issue as I do, and would like to see something done about it. What I asked for was to put Shabilicious and Caddieman on mod review, just like Johnny Dinar was at the time. I'm not asking that they be banned, just that they be shown that they need to be respectful to other members. These two deliberately goad pro-Trump members into an argument, then escalate the argument until the pro-Trumper gets angry says something unkind. Then they blame the pro-Trumper for being mean when they orchestrated the whole thing. It's classic passive-argressive behavior and I believe their goal in doing this is to feel powerful. And while they are only two people, they are aggravating so many more people here. And now, since they've been getting away with it, it's escalated to the point where Shabs has taken over the politics section. Both Boosterbglee and I posted screenshopts that show Shabs is posting in the majority of threads and his posts are almost always anti-Trump, done in a condescending way. Their passive-aggressive behavior is really a type of bullying and I consider it abusive. But, once you realize what they're doing, it's pretty easy to recognize it, so if they were put on mod review, the mods could easily see when they're trying to bait people into an arugment, and then just not let those comments be posted. Hopefully, if they can't continue to do pick fights with members here, they'll soon stop trying or possibly go to another forum where they can get away with it. So, can you do something to help us? Because it really irritates quite a few members here. Thanks

For the umpteenth time, not reading their posts is the answer. If you stop engaging with them, they'll give up and go somewhere else to find new people to abuse. But very few people here are willing to do that and continue to be baited by these people. This only encourages them to be more aggressive, so that now, as I pointed out when I started this thread, Shabs has hijacked the Politics section. Boosterbglee just posted a screenshot showing that he is still actively posting in the majority of threads there. And since these are such precarious times, it'd sure be nice to be able to go there and quickly see if any of the people, whose opinions I do respect, have posted recently. Instead I have to maneuver around Shabs, and to a lesser extent, the other two's excessive number of disrespectful posts. But I am unclear as to whether Adam is going to do anything about this. If not, is it possible for us to start a Politics section in VIP? Most if not all the people whose opinion I respect are in VIP, so that would be a good fix for me.

I just want to say that I am absoultely for free-speech. I constantly say there's a reason Freedom of Speech is our first Amendment right. But these 3 people are NOT trying to share information or even opinions - at least not most of the time. Their real goal in posting is usually to aggravate pro-Trumpers so that can fight with them. They say horrible things about our president just to make us angry. That's why I no longer will read their posts. But the people who read their posts usually get angry and respond by saying something unkind, which is exactly what these 3 people want. I believe it probably makes them feel powerful to be able to exert control of strangers. And I'll say it again, this is classic PASSIVE AGGRESSIVE BEHAVIOR. They pick at you until you snap back, then the criticize you for snapping. And this is abusive behavior..... let me repeat, this is abusive behavior. I first decided to submit a support ticket on this rather than post on the forum, but then I noticed Jonny Dinar's post about being on mod review. So I read that thread and it looked to me like Johnny Dinar was likely put on mod review for innappropriate posting. So I think deliberately baiting and attacking other members here certainly must also count as inappropriate posting. Hopefully the good folks in admin can read this and understand why I'm asking for this. I don't want to censor these 3 members' from sharing information or opinions. But there's a proper way to to that - a respectful way and these people are deliberately disrespectful in their posts because there intent is not discourse, it's to pick a fight. None of us really care that they hate Trump, heck we're used to people hating him. The problem is not about liking or disliking Trump, the point is that these people's intention is to deliberately infuriate the majority of members here. Really, it's a form of bullying and I don't think it should be tolerated. Can any mods bring this to Adam's attention please?

So a friend emailed me and asked me what I thought about it. I'm copying my reply below because I think it's pretty spot on, if I do say so myself! I think it was good, but for gosh sakes, I don't know why he didn't cover the following! He could have skipped most of the 45 minutes and just said the 2 following things. This was from PA, on the Wed before thanksgiving when Rudy was presenting: 1) I think it was either a tech expert or else someone who works in PA who pointed out that some 1.8 million mail in ballots were sent out and 2.5 million were returned. OMG, that makes it super clear that there were MASSIVE amounts of fraudulent ballots 700,000+ in just this one incident alone. I mean, seriously, it's a drop the mike, even a child could clearly understand, one sentence statement that proves unequivocally that there was massive voter fraud. 2) There was a tech export who said 600,000 votes appeared out of nowhere, of which 577,000+ (I don't remember the exact amount) were for Biden and only 3200 (or thereabouts) were for Trump. That is powerful data - from a tech expert, that is super clear and super indicative of massive cheating and he backed it up with data. All those other things Trump talked about were not anywhere near as powerful as these. Big numbers prove the case so powerfully, and he just mentioned tens of thousands, rarely low hundreds of thousands. And while what he mentioned was technically enough to turn the totals in his favor, how much more shocking and powerful would it have been if he took only 1-2 minutes to say, "you want proof of massive voter fraud, here it is.....": BAM, he says 1) and 2) above and perhaps even runs the brief audio of the tech rep and/or PA worker stating those 2 things. THe Dems hate Trump and they resist everything he says, but if he says it in only a few sentences, and then shows relevant experts testifying to that and backing it up with proof, BAM, no more disputing it, case closed, no doubt there was massive voter fraud. Instead, the MSM is going to pick apart his 45 minute speech and focus on irrelevant aspects. If he'd made it short and sweet with what I just said, he would done so much more for his case. Alas, he doesn't ask my opinion, lol - but still I know I'm right about this!! But I'm still hoping they can turn AZ and hopefully PA and MI in the next week or so. Also, Sidney GA case got expidited and hopefully she can get an injunction to stop the use of Dominon for the re-vote there, and get the electoral vote delegation back into the hands of the legislature - who's hopefully honest, instead of the corrupt RINOs. Plus, Kayleigh said big news is coming from Nevada this week, so hopefully Trump can get those votes. I just want this to be done soon, and with crystal clarity that there was massive fraud that was found so the results are legitimately and properly reversed, so that there is the greatest chance of acceptance of Trump's re-election by the masses as possible. There will always be the libs who have Trump Derangement Syndrome, but I have to think the majority of the Dem masses, are decent people, they just were hoodwinked into thinking Trumps the enemy instead of a great thing for this country.

These are scary times as the majority of members here are pro-Trump and we are very concerned our Republic may fall to socialism if we can't expose and undo the voter fraud in the last election. So right now, I like checking the Politics section often to see what others are posting. I just went there and found that 6 of the 7 most recent posts are from shabilicious. This member, like johnny dinar who is alaready on mod review, is disrespectful and most of his posts are attacks on Trump, done with the intention of getting pro-Trump members into an argument as the try to defend him. Shab's goal in posting does not seem to be respectful discussion, but rather to push the buttons of Trump supporters. I've actually stopped reading shab's, along with johnny dinar's and caddieman's, posts because I refuse to let strangers pull me into an endless argument. I believe their real goal is to push the buttons of people they don't even know in order to feel powerful. Their modus operandi seems to be to get people angry enough to say something unkind so they can then attack them for being intolerant. It's classic, passive agressive behavior in my opinion. I've tried to explain this to others here more than once, pointing out that the solution is to stop engaging with these people who are trying to bait you into losing your temper. If you just ignore them, they'll eventually go away and target other people, hopefully on a different forum. But nobody listened and now these people are taking over the Politics section. I started a topic about Covid being partisan, and sure enough shabs replyed to it and hijacked the subject to be about Trump losing the election (I didn't actually read it, but I read Coors reply to him from which I could gather what was said). So I replied and politely asked if people would not pull that thread off topic, and no surprise, all three of them, shabs, johnny and caddieman quickly replied. As I said, I don't play their game so I don't read what they post, but I'm pretty sure they were not making construction comments but rather their posts were attacks of same kind designed to start an argument. Also, here's a screenshot I just took showing how much shabs is posting in the Politics section now - 6 out of the 7 most recent comments - in 7 different threads, were from him/her. Again, I don't read what he/she posts either, but I feel confident that if you do read those posts, you'll find they are attacks of some kind designed to get a rise of out pro-Trump people and pull them into a never ending argument. I invite other members to comment about their experiences with these 3 members as well. If others are also bothered by their behavior - and I believe they are, can admin put the last 2 on mod review, like you already have done with Johnny? And just censor their posts when you see the intent is to goad people into arguing with them. As I said, these are scary times and it would be so great if we could all respectfully share our opinions about what's going without being baited into meaningless, unending arguments. Thank you