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NEW US TREASURY LAW RE: DINAR


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#1 aaanth

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Posted 11 March 2011 - 07:21 PM

Contrary to some of the statements being made about the new "US Treasury Law" regarding the dinar there is nothing to back that up. If someone knows of a recent law regarding the DINAR specfiically from the US Treasury Dept please post it here. Otherwise just chalk this up to someone's vivid imagination. in other words, it's a rumor!

What there is in California, is a bill designed to affect money transfers from DEALERS. this is California bill AB 2789 which states the new law for the State of California regarding the fact that currency dealers need to have certain amounts of reserve on hand and be accountable for all transaction therein.. This bill does NOT MENTION THE DINAR! Here is the link...

http://www.aroundthe..._2789/20092010/

So, all the hype about the dinar being singled out by the US GO. is this just that. HYPE! just what we need, right? more hype.

PLEASE, if I am wrong and someone can post a link to that effect i would be happy to recant...

Read more: http://dinarvets.com.../#ixzz1GLNoqrjo
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#2 TimS

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Posted 11 March 2011 - 07:27 PM

Thank you....I thought the gurus were just twisting the news to fit their needs B)
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#3 chuckray

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Posted 11 March 2011 - 07:30 PM

thanks for your research--and update
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#4 onerighthand

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Posted 11 March 2011 - 07:36 PM

I never saw one credible link on this subject and thus I am waiting without panic.

GO RV
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#5 KramerDinar

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Posted 11 March 2011 - 08:10 PM

There is nothing recent on US Treasury department even referencing dinar, iqd or foreign currency law changes
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#6 emmet

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Posted 11 March 2011 - 08:24 PM

Contrary to some of the statements being made about the new "US Treasury Law" regarding the dinar there is nothing to back that up. If someone knows of a recent law regarding the DINAR specfiically from the US Treasury Dept please post it here. Otherwise just chalk this up to someone's vivid imagination. in other words, it's a rumor!

What there is in California, is a bill designed to affect money transfers from DEALERS. this is California bill AB 2789 which states the new law for the State of California regarding the fact that currency dealers need to have certain amounts of reserve on hand and be accountable for all transaction therein.. This bill does NOT MENTION THE DINAR! Here is the link...

http://www.aroundthe..._2789/20092010/

So, all the hype about the dinar being singled out by the US GO. is this just that. HYPE! just what we need, right? more hype.

PLEASE, if I am wrong and someone can post a link to that effect i would be happy to recant...

Read more: http://dinarvets.com.../#ixzz1GLNoqrjo


aaanth, I like your style. I also looked and could not find anything to support the claims. The problem now lies with
the dealers and their 'employees'. At time of cash in how do you convince someone about law when they probably do not speak fluent English.

"If we run such [government] debts, as that we must be taxed in our meat and in our drink, in our necessaries
and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England
are, our people, like them, must come to labor sixteen hours in twenty-four, give earnings of fifteen of these
to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread,
we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers
to account; but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-suffers."
~ Thomas Jefferson
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#7 BanG

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Posted 11 March 2011 - 08:32 PM

Yea the "new" laws thing was posted several days ago and at the time the author had links available to substantiate his articles. This was what I read and several others did so as well, as to the validity of the article just do not know. Peace.
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#8 blueskygal

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Posted 11 March 2011 - 08:38 PM

Icould go into detail here guys but I wont.. I called treasury to find the regs - they are deeply disturbed and called fincen

at first I was freiked out that they did this...then I realized that the regs are UNDER FINCEN - Title 31 CFR Chapter X - it was changed to chapter X (funny name based upon previous naming of regs I might add) it was changed to chapter X on MARCH1

Now, the interesting part is ...the regs say that nothing has changed...

the person I talked to said they were unaware of any regs specifially related to dinar exchange and that no financial instution in the US is holding dinar nor buying or selling (what planet are they on for how long???) said that the regs are old and that the DEALERS were not complying with them...

hmmmmm

well that says to me that they (while they were or are still in IRAQ) implemented or revised statutes...

just goto the CFR website and you will find what you seek peeps!!!

GO RV!!!!!!!!!!!!!! :woot: :woot: :tiphat: :twothumbs:
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"He who has a why to live can bear almost any how."
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Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, beer, wine, or champagne in one hand - your partner's hand in the other, body thoroughly used up, totally worn out and screaming "WOOHOO - What a Ride!" AMEN to THAT!

#9 cgbrown

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Posted 11 March 2011 - 09:23 PM

Thanks for your postings.
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#10 BanG

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Posted 11 March 2011 - 09:37 PM

SH$T this leaves me a bit concerned here? I just cannot wait for the RV and we all begin our wire transfers......LOLOL.
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#11 imgesing

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Posted 11 March 2011 - 10:58 PM

WHEW I hope you are right! I am a bit freaked out at the prospect of losing a BIG chunk of this right off the bat.

PEACE
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#12 DinarChiTown

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Posted 12 March 2011 - 12:34 AM

Yet another "fact" or "reason" for the pumpers...
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#13 Off-the-grid

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Posted 12 March 2011 - 01:16 AM

Guys, I never saw anything that referenced these regs specifically to the Dinar - they were in reference to any currency exchange. However, the original articles did say that the Dinar traders were sent this information, but maybe all currency traders were sent the same "memo."

I fail to see how this information would spur "pumping" since they are said to already be in effect. Trading straight to gold or a non-dollar currency in order to avoid a "taxable" event is obviously a loophole, so not surprised to see it closed. I think the main thing is to not cash out more than necessary until you achieve "long term" capital gain status.

Peace and Prosperity
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#14 Star Ship

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Posted 12 March 2011 - 01:35 AM

There is no special secret to cashing in Dinar. It is like exchanging Canadian $$$ for US $$$ or vice versa. If the transaction is over $10K then you have to fill out the US Treasury FinCEN Form 104. It is that simple - cause exchanging your dinar for US $$$ regardless of the Rv - the activity is still the same - you are exchanging one currency for another. All this hysteria about new laws with regard to the dinar is BS. The California AB 2789 bill is for monetary dealers. It basically came about because there were companies that sold bogus money orders. It has nothing to do with currency exchanges. For the sake of clarification - when you decide to "cash-in" your dinar, substitute the word "exchange" as that is what you are doing - exchanging. Say you went on a trip to France and you went to your bank or another institution that dealt in foreign currencies. You exchange $2000 US for the corresponding amount of French Francs. When you get home from your trip you still have a certain amount of French money left so you go to your bank and "exchange" it back for US $$$. Your "cash-in" process is just a simple exchange of one currency for the other and depending on when you do the exchange you get the $$$ amount that is dictated by the exchange rate of the day. You cash in Casino chips. You "exchange" currencies. It is that simple. Dealing with the IRS with regard to taxes is a separate matter and it is something one will have to handle with a financial professional. It has nothing to do with the initial exchange of ones dinars for US $$$ once the Rv happens. There are no new mysterious laws governing the exchanging (cash-in) of dinar for US $$. Stop the hysteria, please. :P
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#15 emmet

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Posted 12 March 2011 - 02:02 AM

Star Ship thanks for your post
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#16 tommyboy

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Posted 12 March 2011 - 04:06 AM

As I said before, this is nothing new. Sounds like the same BS that was required "way back when" to try to curtail money laundering. I personally know of it for at least 22 years from when I withdrew funds to give my sister some money, and since then. Don't make any cash transactions from the bank for over $9,999.99.They are required by law to record it. Or, just pay the taxes and you have nothing to worry about !

Edited by tommyboy, 12 March 2011 - 04:07 AM.

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#17 truthful1

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Posted 12 March 2011 - 10:46 AM

If it is pumping by the dealers, its a wrong move. If they wont do any ledger to ledger, which takes 20 min or so, and now you have to go through the treasury clearing system which takes maybe a few hours to clear or maybe next day, I would be less inclined to use dt or db. If theres a chance I have to exchange my dinars over and wait till tomorrow to see the funds, I'll be going with a bank. No doubt about.
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#18 HYDRANT

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Posted 12 March 2011 - 10:51 AM

There is no special secret to cashing in Dinar. It is like exchanging Canadian $$$ for US $$$ or vice versa. If the transaction is over $10K then you have to fill out the US Treasury FinCEN Form 104. It is that simple - cause exchanging your dinar for US $$$ regardless of the Rv - the activity is still the same - you are exchanging one currency for another. All this hysteria about new laws with regard to the dinar is BS. The California AB 2789 bill is for monetary dealers. It basically came about because there were companies that sold bogus money orders. It has nothing to do with currency exchanges. For the sake of clarification - when you decide to "cash-in" your dinar, substitute the word "exchange" as that is what you are doing - exchanging. Say you went on a trip to France and you went to your bank or another institution that dealt in foreign currencies. You exchange $2000 US for the corresponding amount of French Francs. When you get home from your trip you still have a certain amount of French money left so you go to your bank and "exchange" it back for US $$$. Your "cash-in" process is just a simple exchange of one currency for the other and depending on when you do the exchange you get the $$$ amount that is dictated by the exchange rate of the day. You cash in Casino chips. You "exchange" currencies. It is that simple. Dealing with the IRS with regard to taxes is a separate matter and it is something one will have to handle with a financial professional. It has nothing to do with the initial exchange of ones dinars for US $$$ once the Rv happens. There are no new mysterious laws governing the exchanging (cash-in) of dinar for US $$. Stop the hysteria, please. :P

GRET POST STARSHIP THANKS FOR LOOKING INTO IT
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#19 fireman

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Posted 12 March 2011 - 11:21 AM

Hello all ! 1st let me say THANK YOU for all the insightful information to this investment that I have read here over the last several months. I don'y know if this is credable to this topic of disscussion but felt I should share what I found.

*Please note new regulations on exchanging Iraqi Dinar:

1. Ledger to Ledger transfers / Internal transfers will not be allowed due to US Treasury Department restrictions.
2. Per US Treasury Department directives, wires can only be sent to the individual exchanging the dinar and the account must be in that person’s name.
3. Per US Treasury Department directives, wires can only be sent internationally if the individual making the exchange is a citizen of that country and the account is in the customer’s name.
4. Exchanges to trusts must be initiated by the beneficiary of the trust.
5. Per US Treasury Department directives, dinar exchanges must convert to US dollars in the customer’s name prior to any purchase of precious metals or other commodities.


Now I know we are not to post about other sites or anything but I order from Tampadinar and this was added recently to there site. If you scroll down there is a link on the left titled 'Cash In Procedures' that will take you to this info. Again I thought it was interesting that it was added and wanted to share. At the very bottom left side there is a link back to Dinarvets so this info couldn't be that misleading could it?
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#20 ronbo

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Posted 12 March 2011 - 05:32 PM

Thanks for the post. This info is most appreciated.

Thanks for keeping us informed.
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