Raising the Iraqi dinar to the forefront again

[235snack]

It says 1.2dinars to the dollar, means one dinar will be worth $0.83

As far as taxes, a 25,000 dinar note is going to be worth $20,750US,

100,000 dinar will be worth $83,333US,

1,000,000 dinar will be worth $833,333US

So it will not take long to put you in the higher tax bracket.  As I understand it, it would be as regular income, not a capital gain.

[yota691]

and the CBI announcement  

News and announcements

 

• ( Statement journalist ) announces the CBI that he does not intend to change the exchange rate of the Iraqi dinar against the US dollar 12/15/2016

 

[Boozer]

59 minutes ago, 235snack said:

It says 1.2dinars to the dollar, means one dinar will be worth $0.83

As far as taxes, a 25,000 dinar note is going to be worth $20,750US,

100,000 dinar will be worth $83,333US,

1,000,000 dinar will be worth $833,333US

So it will not take long to put you in the higher tax bracket.  As I understand it, it would be as regular income, not a capital gain.

That and Trump sent a tax change last week , will have to see that tax break before the RV,, Mad Dog is in Iraq and has to report to Trump by the 27th as how to rid Iraq of Isis , our boys now can go closer to the front line.. Great article of Fox News about this, so I see our boys moving Fast after the 27th, with article 8. Now there working on HCL with Washington ( Yota just posted ), Trump is a closer and will close this deal Fast., March could be our Month..

[235snack]

Don't forget your state's income tax, PA has a 3.5%..You will also probably have an exchange fee with whomever you do the deal with. 

[Rmc10]

I live in Indiana. I need to check more things out. Ty all for your good info. ♡

[davis411]

31 minutes ago, Boozer said:

That and Trump sent a tax change last week , will have to see that tax break before the RV,, Mad Dog is in Iraq and has to report to Trump by the 27th as how to rid Iraq of Isis , our boys now can go closer to the front line.. Great article of Fox News about this, so I see our boys moving Fast after the 27th, with article 8. Now there working on HCL with Washington ( Yota just posted ), Trump is a closer and will close this deal Fast., March could be our Month..

ok then

march is our month

i hope so

i need new boots

 

[WISKY291]

27 minutes ago, 235snack said:

Don't forget your state's income tax, PA has a 3.5%..You will also probably have an exchange fee with whomever you do the deal with. 

In California you are looking at around 50% after all said and done. Fed, state and Exchange rate.

[3n1]

I stopped long ago trying to forecast the iqd future but one can rest assured The banks will make the money on the spread .. The difference between the cbi rate and what whoever you exchange with pays for each iqd note and everyone will have a different plan for that ... We wait 

[jeepguy]

so for a 1000...  dollars  a long wait  then the gains of  over 8oo,ooo  totally worth it  

1 hour ago, Rmc10 said:

I live in Indiana. I need to check more things out. Ty all for your good info. ♡

near Louisville ky here !  meet   you at the bank   

[ChuckFinley]

4 hours ago, Starrider said:

the Feds will take 40% cap gains thank you obummer  then there's your state cap gain if your sates collects on them

Not if you are VIP and OSI. Not to late to jump in.  

[drj]

2 hours ago, yota691 said:

and the CBI announcement  

News and announcements

 

• ( Statement journalist ) announces the CBI that he does not intend to change the exchange rate of the Iraqi dinar against the US dollar 12/15/2016

 

THAT statement right there tells me that the CBI DOES INTEND TO CHANGE THE EXCHANGE RATE of the Iraqi dinar against the US dollar!!!!  

This is the article that I have been looking for all of these years!  In the currency world, when they say that they have no intention of doing something, you know that the opposite is coming!

Thanks Yota!

Dr J

Edited February 20, 2017 by drj

[ChuckFinley]

6 minutes ago, jeepguy said:

so for a 1000...  dollars  a long wait  then the gains of  over 8oo,ooo  totally worth it  

near Louisville ky here !  meet   you at the bank   

Got married at Ft. Knox, lived in E-town, did a Masters at UofL

[ChuckFinley]

4 minutes ago, drj said:

THAT statement right there tells me that the CBI DOES INTEND TO CHANGE THE EXCHANGE RATE of the Iraqi dinar against the US dollar!!!!  

This is the article that I have been looking for all of these years!  In the currency world, when they say that they have no intention of doing something, you know that the opposite is coming!

Thanks Yota!

Dr J

You are on it.  Smoke all over the place. 

[Wiljor]

26 minutes ago, drj said:

THAT statement right there tells me that the CBI DOES INTEND TO CHANGE THE EXCHANGE RATE of the Iraqi dinar against the US dollar!!!!  

This is the article that I have been looking for all of these years!  In the currency world, when they say that they have no intention of doing something, you know that the opposite is coming!

Thanks Yota!

Dr J

Totally agree drj, we are on track indeed  

[blueskyline]

4 hours ago, KDuesing said:

This guy saying 1.2 instead of the old 3.20 being better because lower helps with exporting isnt really realizing how much importing Iraq will be doing for the next 10 years due to having to rebuild several city's from the ground up after the war with Isis. Iraq wont be exporting much at all for a long time.

Is 1.2 the equal playing field that Trump is speaking of ???

[Rmc10]

I just talked to my agent at Edward Jones and he said, 15% capital gains tax/fed taxes, no state tax in Indiana, but there's also a foreign currency tax as well... plus the bank fees. Hopefully I understood him correctly on that. 

[tigergorzow]

5 hours ago, dinareffic said:

Thus followed the conservative monetary and fiscal policies that kept the stability of the Iraqi dinar is installed by the Central Bank at 3.2 dollars to the dinar.

Come on CBI.....Git er done!!

5 hours ago, dinareffic said:

The Monetary Authority may to install new exchange rate with the dollar or a basket of currencies. 

CBI is in full control soon after Liberation Of Mosul, National Settlement, Project To Delete The Zeros, HCL....We are off to the races.....Hell Yeah...

5 hours ago, dinareffic said:

Some Iraqi Government economists raising the dinar against the dollar until rising purchasing power and increasing confidence as a rule Iraq, as demanded by the need to stop «dollarization» economy by preventing deal internally and make local transactions are limited to use of the Iraqi dinar only.

Educating the citizens of Iraq the purchasing power of the IQD is coming sooner than later.  

[Theseus]

5 hours ago, Rmc10 said:

So I know regular members can't talk about VIP things but on average how much do banks charge to do currency exchanges normally? Is that a question that I can ask and someone can give me an answer to? Doesn't the government also take around 35% too? Just restating *what is average and normal* for information sake. I don't know much about it as I have never asked anyone about it. I am also thinking about buying a little bit more Dinar now when I have the extra funds. Lol. I've been thinking about joining VIP but my hubby and I have been on a budget and haven't spent anything more on this venture in years than what we originally spent. Being conservative...

Take what you have and multiply it by the RV rate. Multiply that by 55%. That is the amount the government keeps along with the exchange rate. Work with 45% of whatever you expect to make off this and you should be fine. If you pay the tax man his due and have money left over, hooray you won a gold star!

[davis411]

Just now, Theseus said:

Take what you have and multiply it by the RV rate. Multiply that by 55%. That is the amount the government keeps along with the exchange rate. Work with 45% of whatever you expect to make off this and you should be fine. If you pay the tax man his due and have money left over, hooray you won a gold star!

Pay the tax man

i don't think so

i pay my share but nothing more

i will do everything possible to not pay

hence joining VIP and osi

if I thought I would be paid in cash 

I wouldn't of joined

and no this is not a paid ad

my thoughts only

 

davis

[Theseus]

From Charles Schwab website.

Just now, davis411 said:

Pay the tax man

i don't think so

i pay my share but nothing more

i will do everything possible to not pay

hence joining VIP and osi

if I thought I would be paid in cash 

I wouldn't of joined

and no this is not a paid ad

my thoughts only

 

davis

 

First, that is just set aside to pay the taxman. Do everything in your wherewithal not to pay whatever you don't have to. Setting aside money to pay the taxman when the time comes is always a smart play. 

Long-term capital gains and qualified dividends

A top rate of 15% applies to qualified dividends and the sale of most appreciated assets held over one year (28% for collectibles and 25% for depreciation recapture) for single filers with taxable income up to $418,400 ($470,700 for married filing jointly). Long-term capital gains or qualified dividend income over that threshold are now taxed at a rate of 20%.

 

[Theseus]

Pay the tax man

i don't think so

i pay my share but nothing more

This is contradictory. You just told me that you are not going to pay the taxman then state you are going to pay your share. Which is it? Setting money aside for tax purposes on this large amount is a smart play by any investor. You are not necessarily going to pay that much but you will have the funds when you need to pay them.

[davis411]

2 minutes ago, Theseus said:

Pay the tax man

i don't think so

i pay my share but nothing more

This is contradictory. You just told me that you are not going to pay the taxman then state you are going to pay your share. Which is it? Setting money aside for tax purposes on this large amount is a smart play by any investor. You are not necessarily going to pay that much but you will have the funds when you need to pay them.

U missed my point

like many we already pay our share

actually pay to much

u gamble and maybe win

and they want more out of u

well they didn't gamble with me

i pay what I am forced to pay

u also mis understood my cash point

i love cash

cash is king and tax free king in my world

my opion only

 

wife always says give to Caesar what is Caesars 

i tell her I would love to

but problem is he is dead

[DinarThug]

Here's A Highlighted Version Of It ...

 

(by walkingstick)

Raise the price of the Iraqi dinar to the fore again

---

Version: paper - InternationalMonday, February 20, 2017 (00: 0 - GMT)

 
Some Iraqi economist calls for the government to lift the Iraqi dinar exchange rate against the dollar until the rising purchasing power and increasing confidence it represents the sovereignty of Iraq, and calling for the need to stop the «dollarization» economy by preventing the deal internally by making local transactions are limited to the use of the Iraqi dinar only. 
It must be pointed out that 70 percent of the currency in circulation was covered in gold and foreign currencies until 1981, and the remaining bonds Iraqi government (currency) Act, and Iraq was then applied to the remnants of the gold standard system. In order to maintain the cover, successive governments have continued to link fiscal policy, especially current spending and investment, the status of the balance of payments, and the latter was determined by the government's revenue from oil exports. But the success of this linkage administrative restrictions applied to the outside, both the conversion, trade in goods, services and movement of capital. Thus followed the monetary and fiscal policies the province has maintained the stability of the Iraqi dinar is installed by the Central Bank of $ 3.2 dinar. 

And it gave a commitment to cover the dinar ease monetary authority in the exercise of its duties, where he was only concerned with maintaining the stability of the currency, but that check on economic development that have not been spending the expense of the adequacy of fear that increased spending affect the stability of the currency. But during the Iraq war - Iran that caused Ptlashi Iraq precautions huge foreign currency, the Iraqi government abandoned the currency law and began to spend on the war without quantitative restrictions, causing a continuous decline in the dinar exchange rate against the dollar and other major foreign currencies, because of the increasing gap between the Iraqi currency supply and demand. And increased the economic embargo imposed on Iraq in 1991 it worse. Despite holding the government at official exchange rate (US $ 3.2) for official transactions, resulting from the continuation of the growing imbalance between the currency volume in circulation and demand for another rate of the dinar is the parallel market rate or the black market, we arrived at certain times to 4000 dinars to the dollar. 

After the occupation of Iraq in 2003, and lift the ban on oil exports and reserves of foreign currency deposits abroad and the resort's central bank to regulate the daily auctions to sell the dollar, which means the withdrawal of part of the local currency, the value of the Iraqi dinar to rise began gradually until it reached 1200 dinars to the dollar, and remained range around this average. And deprived the Iraqi - Iranian war conditions and the economic blockade after the Iraqi dinar many regarded as a store of value and medium of circulation, what caused the shift most transactions at home and especially internal trade in goods and services, to the dollar, and thus has «dollarization» of the Iraqi economy. 

From this background on how the Iraqi dinar exchange rate over the last 36 years the price of change, and how it has «dollarization» economy, it is time to discuss the claims of some economists now demanding higher when the dinar exchange rate and stop «dollarization». 

Since more than four years and officials in Iraq are talking about a project monetary reform in which to raise the Iraqi currency exchange rate against the dollar so that the new dinar equals 1.2 dinars to the dollar instead of 1200. But the move was postponed to a later date due to the exit of some Iraqi areas under government control after the occupation of «Daesh» her. Then the military operations began to recover these areas which still exist. The government is expected to return to the project itself after the end of military operations. If the monetary reform is successful, there will no longer need to use the US dollar in local transactions. The latter earned after the completion of daily transactions difficult with the arrival of the dollar value of one thousand dinars to become, making individuals resort to dealing in dollars instead of the dinar, especially in large transactions in the hoarding of currency. 

But monetary reform as mentioned above does not mean setting a new official exchange rate of the dinar against the dollar. If under the floating exchange rate as it is currently, the rise or fall according to the relationship between the width of the dinar and demand, the higher the stability of the dinar against the display or low demand, price declines cashed in against the dollar. And it gets the contrary, if the width of the dinar fell against the stability or rising demand. The monetary authority may resort to the installation of the new exchange to the dollar or to a basket of currencies. But in any case, is not advisable to adopt a high exchange rate, it does not give effect to the economy or raise the value of national sovereignty, as some believe, but have negative effects in the economy. The price of the Iraqi dinar former (US $ 3.2) was exaggerated and will continue to be overrated if has to return to it in the future. It will make imports cheaper, but it hinders improvement of production and export capacity of Iraq, it may be the price of one. 2 dinars to the dollar or dinar against the dollar is a good price. But on the government to follow the fiscal and monetary policies that help to maintain it. So we can say that the calls that we hear today the lifting of the dinar exchange rate and the abolition of «dollarization» claims the economy is not right for your first or can not be achieved by the monetary reform for the second.

http://www.alhayat.com/Opinion.....8%A7%D9%8B

[tigergorzow]

dinareffic, DT,  Thanks for the good articles.....

[Shedagal]

Several years ago, there was a DV member named ExecConsult who is a tax attorney.  There was much discussion as to whether the RV would be taxed as cap gains or ordinary income.  He deemed it was going to be ordinary income, although he had written the IRS to challenge that.  Here is one of the threads.  The first post is someone thinking it is cap gains.  ExecConsult replies midway on the first page. 

 

 By all means, if you are not VIP/OSI, please use a CPA or tax attorney to get your information.