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Everything posted by kinglizzy99

  1. Sorry I am a little confused...any clarification is appreciated on the following excerpt from AM's chat (specifically what I bolded below). If one does not already qualify to be an accredited investor (net worth or individual income), this is assuming we will see an RV substantial enough, no? Furthermore, for many of the DVers that believe the RV will either be extremely low or increase gradually over time, etc., what happens to them? Thanks. [Adam Montana] the law is reagarding "Accredited Investors' [Adam Montana] to be an Accredited Investor, you need over $1,000,000 net worth [Adam Montana] the law is reagarding "Accredited Investors' [Adam Montana] to be an Accredited Investor, you need over $1,000,000 net worth [Adam Montana] or an individual income of over 200,000 USD for the last two years with a reasonable expectation of the same in the current year [Adam Montana] or a joint income of 300,000 for the last two years with a reasonable expectation of the same this year [Adam Montana] as long as you are an "Accredited Investor", the F rank-Dodd Law does not apply to you for this investment [Adam Montana] (keep in mind that the 1,000,000 net worth excludes your primary residence) [Adam Montana] bottom line is this: [Adam Montana] if the Dinar RVs and you are the owner of over $1,000,000 in assets (Dinar) [Adam Montana] then you are an Accredited Investor [Adam Montana] I don't fault the "gurus" for not understanding this
  2. LOL...It's nice to once in a while take your "stash" out and see whatchu got...
  3. A post like this also acts like an insurance policy...if it in fact RVs at a good rate (relative) sooner than predicted, what's there to lose? Nothing! Most people will have scattered by then like cockroaches never to return to DV... Opinions are like you know whats...everyone has them! Clearly Keep has two type of followers...ones that deify him and ones that oppose him...If you believe in your belief, then guess what? Whatever that is, you're absolutely right right now! We will only know in due me, that's where the fun go back and dissect who was on the mark and who was far from it.
  4. if this were indeed true, then perhaps we now know the deadline to cash in by... Here's another twisted spin...(and I know this contains a couple conditionals) but if we were to see an RV post-7/15 and we see a rate that qualifies the investor into one of the three statuses listed (if not already a QEP) you're in the clear... Still need to learn much more about this but those are my initial knee-jerk thoughts...
  5. GPCarter, I like the simplicity of your post. I was also thinking the same implication of bamagirl's post above. I did a quick search and found this article from 2007 that explains the tax implications of Forex (I don't believe it has changed much). IMO and the opinions of many others, specific to the IQD, big brother will be right there besides us upon Cash In (via the FinCen form and whatever regulation is put in place before then). Lastly, in addition to BlueJeanBaby's post on MLM, having been involved with 2 big MLMs in the past, one of the key elements of a MLM scheme is the spread between the manufacturer and the your typical supermarket or Target/Walmart, etc., products on the shelves are priced such to reflect enough profit for the manufacturer to cover the marketing/selling/distribution etc. costs of the product...with an MLM, the "distributor" bypasses that by selling direct as well as having his/her "recruits" sell under his "pyramid" and getting a little nip off of that...yes there's currently a spread in our IQD purchases if buying from a broker vs. bank, but that's about the only similarity to MLM. There are several groups out there (I refuse to even give them press here because they're an absolute joke) that sure try hard to keep their members (sheeple) under their control via MLM ra-ra tactics... One should be able to think on their own and come to their own conclusions... My 23.54 iqd (exerpt below...full article can be accessed via the link) SATURDAY, AUGUST 25, 2007 Tax Implications of Trading the Forex by Mike McKee, CPA Tax Implications of Trading the Forex (Spot) Market Forex Trading tax tips tricks and traps This article will discuss the tax implications for U.S. Citizens and resident aliens that fileIndividual U.S. Tax Returns. Gains and losses incurred while trading foreign currency contracts (FCC) on the openFOREX (interbank, cash, spot) market is subject to the provisions of the United StatesInternal Revenue Code Section (IRC) 988. IRC 988 states that fluctuations in theexchange rate gain or loss should be treated as ordinary income or loss. Section 988 was written to tax companies that earn income from fluctuations in foreign currency exchange rates in their normal course of business. For example, a U.S. based company purchases goods in another country and the resulting fluctuations in thecurrency exchange rate must be considered. Accordingly, any gain or loss on thetransaction is treated as ordinary income or loss to the business entity subject to ordinaryincome tax rates versus a capital gains tax rate. Individual Forex traders have some additional options on the taxation of FOREX gains and losses, that actually, can be very beneficial from a U.S. individual tax perspective.The question then becomes does an individual FOREX trader treat his gains/losses asordinary income/loss or affirmatively elect out of IRC 988 for capital gain/loss treatmentunder IRC 1256? Should I elect out IRC 988 or stay in IRC 988? TIP For the individual Forex (Cash) trader there is an election under IRC 988 (a)(1)( toconvert these otherwise ordinary Forex gains and or losses to capital gains and or losses. Trick For the individual Forex (Cash) trader the real tax benefit of electing out of IRC 988 isconverting your Forex gains from ordinary income tax rates as high as 35% to the muchpreferred capital gains maximum tax rate of 15%. Trap However, as an individual trader, if you have net Forex (Cash) losses you MAY NOTwant to elect out of IRC 988 as you will have ordinary loss treatment that can fully offsetyour other income (i.e., wages from your job, interest and dividend income). If you electout of IRC 988 and then fall under IRC 1256, and have Forex trading losses, the lossesare limited to $3,000 under the regular capital loss limitation rules. If I decide to elect out of IRC 988, how do I accomplish that? Tip If you decide to elect out of IRC 988, you must make an affirmative election and attach itto your U.S. Individual Income Tax Return. In addition, according to the U.S. Treasuryregulations, Reg 1.988-3((4) you must attach to the tax return the 5 items requested inthis regulation on a per trade basis (Note: for an active Forex trader, that could mean avery, very thick return). A word of caution, there is very limited information regarding the U.S. taxation of theFOREX market. It is very clear, however, that an affirmative election must be made toelect out of IRC 988. However, based on my research the above reference REG is alsovery clear that the election on a per trade basis must also be attached to the IndividualTax Return. However, the CPA I spoke with who prepares many Forex traders returnsDID NOT attach this election on a per trade basis. This CPA Firm only attached to theIndividual Tax Return an affirmative election out of 988, followed with a blanketstatement electing out of 988 covering all trades during the year within the specifictrading account(s). My reading and understanding of this reg indicates otherwise thatyou must identify each trade.
  6. Love the marketability of this chat group...could almost be a new website...
  7. coming out "low" is individually relative...I've seen people mention a 1:1 RV was low which blows my mind...anything with a positive return I'll be happy with...and will determine my strategy going forward...
  8. that's awesome! it also has a chicken little ring tone..."RV next in Tuesday!"
  9. It would be nice to hear from someone that actually capitalized on the Kuwait situation. Barring he/she is willing to tell the truth and come out from underneath the veil of an avatar and alias, I can't think of one post (out of 1000s read) where I remember someone providing that insight. Before anyone wants to bash, I know the Kuwait situation was different!
  10. LOL! By the way, nice Weim pic! We have 3 gray ghosts ourselves!
  11. Gibbs427, Nice post. I agree with your position and in a weird way agree with some of the other folks providing a counterargument. These forums are all glass houses and it's funny how there always seems to be this rivalry amongst particular site-loyal-followers. I consider myself to be quite objective and go to a variety of sources for my information...and I would summarize the style, content, rules, site administration, etc. of these different sites as a difference in semantics...period. If I want to put all my eggs in Okie's basket, so be it (do I? heck no! he's a joke IMO...nuff said lol). It boils down to each individual educating themselves to be able to come to your own conclusions (date, rate, LOP/no LOP, green zone this, green zone that, bank rumor blah blah, actual real news, etc.) The other piece to your post (that I don't see included) is that Mr. DD himself hasn't removed these rumors altogether. He has relocated them so if you want to read them, you still can; you'll just need to dig a little deeper (via a couple more clicks). I believe he also mentioned something about giving more of his prime website real estate to more value-added items whatever they may be. That's my 23.54 iqd
  12. dexter, Fun post! I like the comparison because not only do I feel the same way, but I'm big into blackjack and dice (avoiding the other term cuz I don't want to give any ammo to the trolls/bashers lol) However, I've always thought about the "what if we do in fact see a huge return from this" scenario, and equate it to this Roulette example (using very round numbers for easy math sake): - Imagine going into a casino and betting $1000 on your favorite number ($1000 as a rounded down estimate to equate to what most of us would have bought $1M dinars for) - If it hits, you've just won $35,000!!! Even in that scenario, I'm sure most people would be absolutely ecstatic. - Now, let's get super crazy and take all your money ($35,000 + $1000 initial investment = $36,000), and LET IT RIDE!!! (I'm quite sure that unless you're in the high-stakes area or get special permission, you wouldn't even be allowed to bet $36,000, but this is just a fun exercise so go along with it ) - If it hits again, you've just won $1,260,000!!! (I'll wait as many of you will right about now want to check my math...wait for it...wait for it ) - You've just made $1,260,000 off an initial gamble of $1000...WOW!!! - Hmmm, can you say RV of 1.26 usd : 1 iqd??? That's as good of a rate prediction as any other! Again, there are so many moving parts and outcome scenarios in this investment (just like roulette), and as long as you don't bring your mortgage payment to the roulette table (ie. bank to buy dinars), what an exciting way to diversify one's overall investment strategy. Peace,
  13. Wow thanks Scooter. I also took notice to the section under Poverty mentioning "funds to establish child care, global health care..." and the tax deadline being proposed to change from 4/15 to the first Monday in November... Those looking to repeal the FRA better have increase their security detail 10-fold! Very interesting...
  14. What's your Vector, Victor? I need Clearance, Clarence...
  15. Look who is talking? And "Some people never learn!"? This comment has no legs to stand on...just shows your immaturity, blatant disrespect, etc. Please provide me one good logical and well-thought out example to support that comment and we can have a rational discussion...otherwise, keep drinking your Guru kool-aid and find someone else to stoop to your level
  16. Exactly! But sheeples don't know how to think for themselves...they need these so called "Gurus" to think for them...
  17. That's was good! I can hear the stampede now (from the $5.25 thread) coming to give us all negatives...LOL! Now, if you excuse me, I'm gonna go shopping for Bentleys and Helicopters
  18. Clearly this thread is a waste of time...all the logical respondents got, I think we found who the PTR followers are!!! Of course they could handle a high-value currency...over a period of any of you think it will RV at $10??? Are you kidding me? Have a little respect for people's opinions...just because you have your cronies on here to give you "+1s", and "-1s" to everyone who doesn't agree, you don't have to act so immaturely.
  19. "Tony" and "credible" in the same sentence LOL!!!
  20. All I have to say is PTR??? LMAO!!!
  21. Very credible maneuver Heavy! +1 Dear GET team, PD, PTR, PBR, PBS, etc. lol, Please refer to Heavy's follow up to understand the meaning of credibility, integrity, etc. Sincerely, A humble non-sheeple
  22. Doesn't it say, "intends to extend..."? So to me, it's a lil media fluff and nothing substantial.
  23. Absolutely THINK! But apparently my comment earlier offended someone...must have been a sheep!
  24. Judging from the Rule of Sheeple, 97 out of 100 people Speaking of sheeple, here they come!
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