Sage449

I agree with you Nakida - my company is bidding on commercial work over there and I keep tracking how we're getting paid - interesting - still in U.S. dollars.

Long, but looks very interesting - I'll have to do this one later. Over a good cup of coffee and with my Bible in hand.

I got to hear Gordon sing this for the first time before he released it at a concert in Minnesota - it was awesome and I've never forgotten it.

mcuman - are you saying dropping the zeros will not change the value of the bill -

I'm a Broncos' fan so excited about Manning if healthy - but love Tebow and really sorry to see him leave - he was so good for Denver.

Thanks to you both - when it comes to the IRS all bets are off and God only knows and he ain't tellin' I had high hopes we'd get by cheaper - the OSI is looking better all the time.

This was sent to me via a friend - if it is on the DV site - please delete - with my apologies for being redundant. Edited to add - what I'm looking for is there any validity to this article? ".....A false statement about Dinar taxation was circulated earlier today. The obsolete material was drawn from the Tax Almanac at this link: http://www.taxalmanac.org/index.php/Internal_Revenue_Code:Sec._988._Treatment_of_certain_foreign_currency_transactions That information was obsolete. The last update to the tax almanac was 2005. It is completely wrong even if you were researching mere capital gains or other currency issues. The Almanac provides big colored boxes warning that you use it at your own risk and that it cannot be relied on legally. Original IRS code is updated each year but the Almanac is no longer updated. Conversion of Dinar into other currencies does not produce capital gains. The IRS provided clear information by telephone documented with the Agent’s ID number within the Special Accounts Division. A prior explanation was published back in early January but it may not have circulated adequately. It is updated below in larger font. Recently we have learned that the US Treasury will siphon $1.00 per Dinar off the top. That way the government will receive real and instant benefit when we convert Dinar to US dollars. We won’t be aware of it. If we are told the rate is $6.00 (for example) the real rate was actually $7.00. The extra dollar will be silently deposited into the US Treasury. No one should feel that the government is being cheated. RATIONALE FOR NON TAXATION ON DINAR CONVERSIONS When you convert Dinar to US dollars, you are not selling anything that brings taxable capital gain. You aren’t selling a house, or stock, or any of the normal capital-increasing gains. The IRS read-out below states this, and it makes sense. Suppose that you have a Dinar note pre-RV of 1,000 Dinar. You could simply fly to Iraq and spend the Dinar there to buy a flat screen TV that costs 1000 Dinar). Or, after cashing in here at the (say) $6 dollar rate, you now have $6,000 US dollars. You could now fly to Iraq with your $6,000. At the airport you would convert your $6,000 into Dinar so that you could buy a TV there. At the currency booth they would convert your $6,000 into 1000 Dinar (approx) and you could then buy the TV for 1000 Dinar. The conversion rate will change slightly day by day, of course. At your Dinar cash-in time, (after the RV) you will be merely converting one currency to another – Dinar converts into US dollars. Assuming the RV has occurred, the dollars you get when you convert them have the same value as the Dinar. You won’t get any more or less than exactly the newly assigned value of the Dinar. Therefore the IRS states below that no capital gains tax is due when you cash-in Dinar. Read carefully the IRS findings shown below and verify them for yourself. Beware - if you put your US dollars into an interest bearing bank account (for even one day), you will gain interest and you will owe tax on the interest gained for each day. We’re advised to deposit dollars into a non-interest-bearing bank or credit union account. Examine this IRS opinion regarding form 8938. The form was designed only to identify people with off-shore bank accounts or LLCs, or Corporations and get them to report their secret holdings. Fortunately, none of the hype [about form 8938] applies to private citizens who happen to be holding foreign currency such as the Dinar or Vietnam Dong. IRS statements regarding Dinar follow: ===-=== I, [xxx,yyy], took the time to call the IRS [special Accounts Division]. I spoke to a supervisor named Ms. Theresa Klier (Employee# 1000349035). She informed me that this form 8938 has been in existence since June of this year [2011], following attempts by speculators in recent months to shield themselves from federal tax levies. This obligation to report income that people derive from foreign currency accounts [bank accounts in other countries that hold non-US currencies] didn’t suddenly become law last week.[Reporting on your offshore accounts has been an IRS requirement for a long time.] She said that the IRS is targeting a specific group of individuals who, until now, have been hiding assets with the specific intent of avoiding taxation by the Treasury Department. Per Ms. Klier, the federal government requires individuals to complete Form 8938 only under the following circumstances: 1) If you hold stock issued by a foreign corporation [because stocks eventually may generate capital gains when they are sold and US tax will be due.] 2) If you earn capital or have accrued interest from profits earned through a foreign business partnership 3) If you hold notes, bonds, debentures or other debt instruments issued by a foreign entity [ because notes and bonds produce capital gain sooner or later – for which you will owe US tax.] 4) If you’ve earned interest in a foreign trust or a foreign estate [tax on interest will be due – even in a US bank account.] 5) If you hold options or other derivative instruments with respect to any of the forgoing examples or with respect to any currency or commodity that’s entered into with a foreign counter-party or issuer. [For example Forex Traders who use a computer to buy and sell currencies, are not converting [Francs] from one currency to another. Forex traders can buy 1000 Swiss Francs (a real purchase) and then sell them back ten minutes later, hoping to have made a profit. Tax will be due on that profit. In contrast, Dinar holders aren’t selling anything when they convert Dinar to US dollars. The US dollars will be exactly equal to the value of the Dinar – assuming the RV has been announced.] ***I made a point of asking [iRS Klier] if currency secured through a licensed currency trader [like Dinar Banker] would bring a private citizen under the purview of the laws that Form 8938 is designed to enforce and she said “NO”. Other than the conditions referenced above, Dinar holders are only obliged to turn in Form 8938 if they purchased the currency directly from a foreign agent or a foreign bank or agent operating outside of our borders*** ===-=== Anyone can call and get verification as was stated above. Only in the event that Congress creates a retroactive tax bill, there is currently no tax on currency conversions. If a capital gains tax happens to be announced later, it would not be fully due until April of 2013, but quarterly payments would be demanded throughout the year, and late penalties for missing the quarterly payments are very real. Some frightened people may choose to simply pay a flat 15% to the IRS as a safe action. (go ahead) Why would they do that? Because of the fearful rumors listed here: - many banks can and do close for reasons of illiquidity or bankruptcy, and - the FDIC did not recover client funds when MF Global bank went down in December 2011, and - martial law may possibly be declared in 2012, and - the dollar is going down in value (faster and faster), and - high tax increases are coming as healthcare hollows out middle-class savings, and - the price of gasoline may double, eating away at savings needed for inflated property tax and/or rent fees, and - ATM machines would stop working if a dreaded bank holiday is ordered, and - gas pumps cannot accept credit cards when banks fail (requiring US dollar cash only), and - banks or government edicts may ration your access to your funds (as in France), and - wealthy people may be forced to pay much extra tax so that it can be distributed to pay the free health care that illegal aliens are to be given, and - government committees will have direct access to all bank accounts to withdraw whatever they think you are able to pay to support welfare programs - the wealthy (us) should pay more, we hear, and - A new gold or metals-backed US currency of unknown value may replace current greenback dollars soon, and - The US dollar may soon be devalued by 40% leaving little with which to pay future taxes, so the fearful may consider paying extra now. If 2012 goes smoothly, any excess paid into the IRS will come back to you in 2013. It would be sitting there in your IRS account as a credit against future taxes in future years if you pay it now before the value of the dollar falls further. Seek verification in writing that the five points above are trustworthy. Two separate people on two separate occasions obtained the points above. Blue brackets above are my clarifying inserts. Please try to understand: When you converted US dollars into Dinar (at purchase time) you paid exactly how many dollars the Dinar was worth at that time. And, When you someday convert your Dinar back into US dollars, you will receive dollars exactly equal to what the Dinar is then worth. Either currency could have bought a car in Iraq – before the RV or after the RV. Whether you are holding US dollars in your hand or Dinar, today’s value tables determine that you should have more of one than the other so that they are exactly equal in value – both in Iraq and the US – both before and after the RV." ===-=== Obsolete tax material from 2005 was at this link: Full Link: http://www.taxalmanac.org/index.php/Internal_Revenue_Code:Sec._988._Treatment_of_certain_foreign_currency_transactions

Yea to Giants win - tonydowntheshore - he scores!!!!!!!!!!

I always take the Okie rants tongue-in-cheek. He should be so blushing over this ba-loney today. I read them just for the laughs and the wry comments from the rest of the members here - you all make my day sometimes with the great sense of humor.

mongo - I fully expect Christ to be in control - and my hope/belief is pre-tribulation - HOWEVER, God does not expect me to be a dummy and sit on my thumbs and not do anything for myself or others while the world around us crumbles, prior to Him sitting on the throne and governing this earth.

I've had the good fortune of traveling a bunch on my job and had spare time to spend in the countries - I have always had great relationships with the locals - extremely interesting conversations, kindnesses abound and parted company with fond and wonderful memories. I hoped that I left a lasting good impression of what a U.S. citizen is really like and all about. When in Rome......

delta22 and tkeaton, if I could give more than one + at a time on each of you I would - loved Paladin!

coolbeans - thank you "cool beans!" I'll take a look at the book and its reviews. What I find interesting, is that with all the Occupied Protestors, the U.S. government, has put out bids for, and the gov't doesn't call them concentration camps, enclosures if the Occupied Protestors get out of hand and have to be arrested - and not just the OPs, but anyone that is dramatically opposed to the government in its present form and operation. I know this for a fact as I've seen the proposal documents. So if something is coming, I want to be prepared as best I can to at least hang around for a while during all the uproar.

krome2ez & brokenomore - you're right - small steps - I've collected the big tins that you get at Christmas time for cookies and popcorn and used them before for nails etc. but now I will start using them for food and other items. We do have dollar stores here and I buy named brands there all the time for significantly less money. I'm looking now for metal shelving I can put up in my basement to sit the stuff on and keep tabs on what I've got stocked. Thanks to all for not making me sound like I'm a nut case and that the sky's fallling. Have a good day!

Understand, at least I can be ready for an emergency such as bad weather. And not spend a ton of money.

Divedeep6 & Tim5400 Thank you for your advice. I'm not chicken little either but I do believe something is coming. Just trying to not be caught flatfooted.

Has anyone managed to get through the video on the advertisement on the 37 things needed to buy before world comes to an end? I have no problem with listening to a video, but he goes on adnaseum and I understand what can happen without water or food - but Jiminey Crickets - get to the point and give me the 37 items - and be done. OMGOODNESS!!!!!! If so, would you mind sharing what those items are that I MUST have?

DEEP BREATHS, Everybody take DEEP BREATHS - that this ride could really almost be over I could hyperventilate here. I've been at this >6 years

DEEP BREATHS, everybody take DEEP BREATHS -

As one of the three most oil-rich countries in the world, Iraq has the resources for complete energy independence. By world standards, production costs for Iraqi oil are relatively low. However, three wars (Iraq-Iran War from 1980–1988, Gulf War 1991 and the Iraqi Invasion of 2003) in addition to the UN sanctions - which lasted for twelve years from 1991 to 2003, left the industry’s infrastructure in poor condition. The lifting of sanctions in 2003 allowed repairs to begin. However, since 2003 oil pipelines and installations have been sabotaged persistently; in 2004 Iraq had eight oil refineries, the largest of which were at Baiji, Basra, and Daura. Sabotage and technical problems at the refineries forced Iraq to import fuels, liquid petroleum gas, and other refined products from nearby countries. In October 2004, for example, Iraq spent US$60 million for imported gasoline. In late 2004 and early 2005, regular sabotage of plants and pipelines reduced export and domestic distribution of oil, particularly to Baghdad. Nationwide fuel shortages and power outages resulted. As much as 90 percent of Iraq’s power generating and distribution systems were destroyed in the Persian Gulf War of 1991, and full recovery never occurred. In mid-2004, Iraq had an estimated 5,000 megawatts of power-generating capacity, compared with 7,500 megawatts of demand. My company participated in the repairs and upgrades to the power station at Haditha Dam site under the USACE contract, brought that on-line with capacity and function exceeding 90% (first time ever). In 2004 the World Bank estimated that US$12 billion would be needed for near-term restoration, and the Ministry of Electricity estimated that US$35 billion would be necessary to rebuild the systems (all) fully. [ In 2004, the Gulf Region Division of the United States Army Corps of Engineers (USACE) carried out restoration works on one of the turbines to restore the dam's hydroelectric power station to full capacity. According to the Coalition Provisional Authority, the inauguration of this turbine on 3 June 2004 signified the first time since 1990 that the power station operated at full capacity.[7] In the same year, a new power line was established between Haditha and Baghdad with the help of the USACE to restore a line that had previously been destroyed. This new line, stretching over a distance of 223 kilometres (139 mi) with 504 towers, has a capacity of 400 kV and allows 350 MW from the Haditha Dam to be added to the national electrical grid. The cost of the line was US$56.7 million and was paid by Iraq's oil revenues.] In 2007, hydrocarbon industries accounted for well over 70 per cent of the Iraqi economy and 95 per cent of the government's revenues.Diversification of the economy into non-hydrocarbon industries remains likely a long-term issue.

FFEJ - wishing you and yours a wonderful and blessed new years 2012.....I've a litany of people that I intend to help when this RVs - I can hardly wait sometimes thinking of it and how it will help them and change lives - all done in prayer and mega-consideration before I jump in and do anything. Hugs.

Sizzle - I just knew I smelled bacon - welcome back, you've been missed!!!!! BettyBoop - I see you're on-line, too - glad to see you're out of the hospital and on the mend. AM SO READY FOR THE RV!!! GO RV!!!!!!!!!!

One more article - not quite as peaceful as first thought - http://www.aljazeera.com/news/middleeast/2011/11/20111128112619355567.html

Talk about the benefit of the OSI, give directions again to how to access the application etc. as I think this is very near and for some that hold a great deal of dinar, may be a tax necessity (protection) from tax overload and taking all funds away. Am hearing that it is done and RV is considerable. And in NOOOOOOOOO WAY am I a pumper or dinar guru.

olbaid76 = my friend and I have heard that the RV was announced in Baghdad - realize now this is strictly a rumor - in the mosques there yesterday and cashing in will begin here in the U.S. starting Monday. I reiterate this is a rumor - I don't have any proof yet, and emailed friends in the middle east that I'm looking for them to confirm. So I'm hoping what you've heard is true; I've held dinar now for years, so am praying this is it.