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ambush_gorilla
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Posts posted by ambush_gorilla
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Why would you take the time to post this garbage????
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ULTRA SECRET.....really........
GURU's suck......Thanks to Adam, really the only source of legit info.
Patience is a virtue. That's what my Mom used to tell me.
GO RV!
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Patience....Good things come to those who wait.....I'm been in it 10 years. All the best!!!
Go RV!
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I personally think that the Iraqi dinar will be revalued to no less than one USD dollar.
If the Iraqi dinar was revalued to just only $0.10, then thousands of people would exchange their old Iraqi dinar for USD then they would purchase the new Iraqi dinar at $0.10 and wait for it to rise to a much higher value against the USD dollar.
If this happens, then this will cause the supply of new Iraqi dinar to dry up.
So logically, the new rate has to be a higher rate rather than a lower rate to avoid the new Iraqi dinar being dried up.
Agreed
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But there will be a window of time and you will have to cash in and you won't be able to watch it increase.
Says who? I know that it has been put out that there will be a cash in period, but until that's official, I'm holding.
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I don't believe that it will RV anything lower than .50.....people with much more money than us would buy in, profiting from eventual increases. BUT, if it did RV at .10, I'm holding.
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When I asked....I should have known this would open up a can of worms!!!
GO RV!!!
Ambush
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I never had any.
I just come here for the entertainment,
free snacks, and open bar...
If this comes to light.....my Bar is Open brother.....It's on me, promise!
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DV Family,
I've been in this thing for 10 years now....PATIENTLY waiting. I actually purchased my while deployed to the Middle East. I hold what I consider to be quite a bit of dinar (couple millionish)....especially if this things turns out to be between $1-$2. I'm just curious to see if you all hold about the same, none of my business......just wondering.
All the Best in your new found fortunes (hopefully),
Ambush
God Bless the USA
GO RV!!!!
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lots watching....no one commenting????
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This sure sounded pretty credible.....I'm not sure if I've been living under a rock, but there were a lot of things mentioned that I have never heard in my life!!! Bush Cabal....Secret Space Program???? WOW!!! GOOOOO RV!!!
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All the issues listed in this article are minor.....besides taxes. Having good values and morals, using common sense, and knowing the difference between right and wrong, will minimize all of the "issues" that come with our new wealth.
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Sounds like we all need a good tax attorney.
GO RV!!!!!!!!!!!!
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My ex-irs agent told me since the IQD is not a "traded" currency that it does not qualify for cap gains, rather ordinary income......However, he is an "ex" irs and maybe the law has changed since his day. Sounds like you read nfrom a publicatioon that specifically mentions "currency that revalues" such as ours.....
Once again....can nothing with this RV be cut and dry......
I agree with those who say, better to pay ordinary income taxes initially, then be surprised to get a refund if we are wrong later than the other way around.
Isn't there an "active" irs agent among us that "knows" the right answer....definitely?
I'm under the assumption that once the Dinar RV's then it would be a "traded" currency......but you know what they say about making assumptions
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Ok. look everyone....let's all stop trying to milk as much from this inevitable huge income as you can. Regardless of whether it is "regular income", "capital gains", 15% or 30%......you/we/I are all going to have way more money than we've ever dreamed of if this all goes right. No need to be greedy here. I'm getting ready to have maybe 45% taken away from my initial proceeds due to taxes. i will still be able to retire if need be. But I won't because that will be too boring of a life.
Agreed......BUT, I've fought for Uncle Sam every day for over 10 years now, and I want to have my ducks in a row. Undeniably there is a huge difference between 15 and 30%. Just trying to get info out there and help, just like most on here.
All the best
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Hi guys. Not trying to rain on the Dinar parade here. But I have read a bunch of ExecConsult post about this and his view is that it will be treated as regular income. This is a non functioning currency, so it does not fall under cap and gains. He post under Tax discussion on the main page. The guy knows his stuff and has spent a bunch of time looking into this. Check it out for youself. I too wish it was a capital gain. But I would rather pay the regular income tax now and find out I over paid later. If you pay the 15% and they catch up with you six or eight months down the road, the cost may be real big. Just check out what he talks about before you make a choice on the way you pay taxes. Also as everyone else has said get tax help. Good luck and GO! RV.
Draco
I thought the same thing until I read it in the publication......it's hard to argue with black and white
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I thought capital gains where 10-15% regardless of tax bracket. But I could definitely be wrong
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I suppose my next question is.... How can they verify when you purchased your dinar? Especially if you didn't buy it through DT or some of the other sites out there. Say for example the individuals that have purchased their dinar in country......where's the proof?
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Your talking 30-35% on income taxes and 10-15% on capital gains.......I'll take the capital gains.
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After over an hour and speaking with 7 different agents at the IRS. I finally got a straight answer. IRS publication 525 page 33 about half way down the page states......"If you have a gain on a personal foreign currency transaction because of changes in exchange rates, you don not have to include that gain in your income unless it is more than $200. If the gain is mor than $200, report it as a capital gain."
The publication is available for download at www.irs.gov, just search publication 525.
I hope this puts to rest some of the misinformation on income/capital gain taxes.
All the best,
Ambush
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I found this doing some taxation research at
"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."
Hope this helps
Ambush
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I've been seeing it alot lately, and didn't have the slightest clue.
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Excuse my ignorance....but what is a 5/3 bank???
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OFFICER,
Please, no offense meant or implied.
Why would no one invest in Bill Gates when he dropped out of MTI?
Why can no banker tell you about elay, one of the hottest penny stocks on the market today?
Can any banker or investor tell you the symbol of the last penny stock that entered the NASDAQ, NIKKI or the DOW JONES?
Did your mortgage holder warn you of the impending housing bubble?
Is it possible that anyone on MSNBC, ABC, CBS or FOX can actually give you up to date information about the resurrection of the Iraqi economy without reading it off of a teleprompter?
You do realize that almost every one of the media markets cater to the whim of their corporate owners don't you?
You also understand that if bankers knew anything outside of their shielded and unimformed cubicle they would be retired and enjoying life on a sandy beach, don't you?
Why did MSNBC, ABC, CBS, FOX and the rest of the media outlet, who know absolutely everything that is going on, not place their investment holdings into George Soros hands when he bet everything against the pound and made untold billions?
OFFICER, could it possibly be that those in the media and our information outlets could not find their glutimous maximus with both hands?
RELAX, have an adult beverage, kick back and know that you are one of the .10% of the American citizenship that has a clue about what is going to be an incredible investment story!
Never doubt your inner man. Know that you have been waiting on this moment and that this moment has been waiting on you!!
WELL SAID!!! Nice work
Adams Wed chat 10-09-2013
in Chat Logs
Posted · Edited by TexasGranny
removed foul language - against the rules
If you can't taste the sarcasm....let me know....I'm not sure when this is going to happen, I believe there will be a profit but 6.39 **!!!!