Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content


  • Posts

  • Joined

  • Last visited

Everything posted by tamiflyer

  2. Probably complacency. 1166 =< 16 Thanks for your post. GLTY and All. Go RV.
  3. Let me tell you something, Iraq! If you choose to take this path, regardless of the "Will of the people," this will be a grave movement on your part. You will be considered "The pedophile" country in the world! This is truly a step in the wrong direction. You should protect your children, which are the future of your country. Not everything in the world is (Cliche') "Man made!" Your ladies are part of your procreation and the existence guarantee. Treating them and using them, before their mind, body and spirit develop is just plain wrong... I hope that you should start a pedophile database soon. You are destined to be the greatest country in the Middle East so don't mess it up by passing this law. I am done with this disgusting topic.
  4. And it begins! Nothing but forward from here! Thanks for you post. GLTY and All. Go RV!
  5. Epa chica! How the heck are ya? I agree with you. With that said, IMMHO, they can't change monetary policy to benefit a some and hindrance others. It has to be equally across the board. A dinar will be worth, in the CBI's eyes, the same on the home field and abroad. With this new release of printing new notes that have new dates, in both types of calendar years, means to me that these notes are here to stay and for them to also say that our notes are also valid, then going back on their word, as a manipulative tool, would discredit them tremendously and the free world would find it very difficult to trust them again, for a very long time, if ever. Everything would have to be on a cash basis and no credit chola. LOL. Nice to hear from you hermana. GLTY and all. Go RV.
  6. IMO, they are trying to please the Kurds with their requirements of having something Kurdish on the bills, maybe not 100% but underway. I'm telling you, this news is the best thing since the inception of the new currency. JMMHO. Thanks for your post. GLTY and all. Go RV.
  7. To add to this, if this is remotely true, then this is "The Guarantee" that we have all been waiting for. I may be thinking to much into the future but visions are just that. No more worries on having to exchange on a certain date for a new currency when the one we hold will always be good. Most will exchange when it revalues but quote me on this, some will hold large notes for a very long time, if this is true and my vision is right. This is just my most humble opinion (MMHO) folks. Thanks again and GLTA. Go RV and bring on the new notes!!!
  8. Thanks B. IMMHO, this is great news. Not only are our notes still good, they will always be good and tradeable. We have practiced this with our currency in the US and all of our notes (Signed by the Treasury Department or Federal Reserve) still hold their face value, regardless of their demands by collectors. In other words, an 1899 Silver dollar note, still has the value of a dollar and can be used if one desires. (I don't know anyone who would so this is just in principal.) So, Iraq has released new notes with both dates and better security features and both the existing and new notes are legal tenders. Bring on the new notes then! I like the way this is moving. Good luck to all and Go RV.
  9. CBI, CBJ and CBK. This is for sure. GLTY and all. Go RV.
  10. "So IMO they cannot build the credit they need under the protection of article XIV and protection order 13303, to get the international investment they need to move forward with their infrastructure." Very well said B. I agree totally. Thanks for your post. GLTY and All. Go RV.
  11. The only thing measured in gold is Registered gold. WWII gave us bilateral decisions with gold, either registered, which was minimal and then unregistered which is alot folks. Asia has alot of unregistered gold, from the Philippines, Sumatra, Japan, Thailand, ect. This gold does not exist in the books since WWII made it possible to be so. GLTA and Go RV
  12. When a large amount of gold is exchanged, there is usually a discount on the purchase price if it is "Registered" gold. Usually a 5% discount against the London Exchange for the set transaction date. When large amounts of gold is exchanged that it is "Not Registered," the discount could be as high as 40%. There is so much unregistered gold in the world that this happens very frequently. Just my two cents. Thanks for your post. GLTY and All. Go RV.
  13. Hello Pablo. Most countries which do not have a system of laws like the US have just one loophole, personal investments in Swiss bank accounts. Take a look at Venezuela 12 years ago when 4 billion dollars wound up missing in the 1st 6 months of Chavez tenure. Until today, no one is talking about this, however, this money is somewhere! Just imagine on his 14 years reign what could have happened as he perfected his actions? Now, Iraq is definitely wealthy in minerals, just like Venezuela is. So, 11 years since the liberation, what can one think about the real value of it? In my mind, money is never lost, just repositioned! Only the amount of people in the world can change the real value of it. Something to ponder about. Thanks Pablo for your post. GLTY and All. Go RV.
  14. Can someone be so king and explain "By the numbers" how to paste/attach an excel spread sheet or similar file. Thank you in advance.
  15. Excuse me Doc, but I disagree. Most Iraqis do not have bank accounts so they don't have electronic currency. "A bird in the hand is worth two in the bush!" Real notes are what I am talking about. Let's forget about the oil, the gold, the SDR's, ect. I am just curious, about our investment and what we "Physically" have which are real paper notes. If I am remotely correct, base on my assumptions and speculations about the amount of notes, and then there is another article that says they have 4 billion notes on circulation now, then these would significantly bring down the value(s) or notes on the streets of Iraq and the world which would inevitably bring change in values for the IQD's and our investments. Thanks for your post and input. GLTY and All. Go RV
  16. I am not suggesting the 4 billion notes yet. This is next! However, when they mentioned 9 billion notes equal 30 trillion dinars, I just factored the number "33" into all of my numbers, just like gas stations do all over the world, to hedge or keep that extra .000000001 that they love so much! It all adds up folks! Like I said before, this is MY SPECULATION and my view and would like input on it. Thanks Pablo for your post. GLTY and All. Go RV.
  17. For some reason my pasting is not working, even if I copy the scree, use Paint and paste. At any rate, I am determined to bring this forward. /Note Value in IQD/Amount of Notes/Total Value of notes in IQD 1. 25,000/660,000,000/16,5000,000,000,000 2. 10,000/660,000,000/6,600,000,000,000 3. 5,000/990,000,000/4,950,000,000,000 4, 1,000/1,155,000,000/1,155,000,000,000 5. 500/1,320,000,000/660,000,000,000 6. 250/1,980,000,000/495,000,000,000 7. 50/2,310,000,000/115,500,000,000 Total Notes-9,075,000,000 Value IQD- 30,475,500,000,000 Please forgive the crude and Jurasic way of bringing this to the table but I tried to paste it via pic/spread sheet and it did not take. Please give me your inputs on this. God bless all and Go RV. Just keep in mind factors of 33 or 33% or .33, which ever you want to work with.
  18. Still working on how to paste a spreadsheet folk. Please have patience and it is coming. Let's try this size Test 4 Need feedback. Is my attachment attaching?
  19. Hello folks. Please do not take this as law! Do you remember when Iraq mentioned that they had 9 billion notes that amounted to 30 trillion Dinars? I got this from Breitling Investments today and put together a spreadsheet which makes a some sense to me but can be improved by all of you. I am only speculating and allowing anyone to please elaborate and or improve this thought! Remember, this is just the way I see it based on a 33% constant. Thank you for viewing and GLTA. Go RV. Note Value in IQD Amount of Notes Total Value of Notes in IQD 25,000 660,000,000 16,500,000,000,000 10,000 660,000,000 6,600,000,000,000 5,000 990,000,000 4,950,000,000,000 1,000 1,155,000,000 1,155,000,000,000 500 1,320,000,000 660,000,000,000 250 1,980,000,000 495,000,000,000 50 2,310,000,000 115,500,000,000 Total 9,075,000,000 30,475,500,000,000 Here is a better view of what I am talking about.
  20. I.R.S. says bitcoin should be considered property, not currency The Internal Revenue Service announced on Tuesday that bitcoin should be viewed and taxed as property, giving a little clarity to the shifting regulatory landscape of virtual currency. Despite the fact that many users treat bitcoin like a regulated currency, “it does not have legal tender status in any jurisdiction,” the agency said. That means that employers who choose to pay wages in bitcoins will have to report those wages just like any other payment made with property, and bitcoin income will be subject to the normal federal income withholding and payroll taxes. Shortly after the announcement, Senator Tom Carper, Democrat of Delaware, praised the decision by the I.R.S. “The Internal Revenue Service’s guidance today provides clarity for taxpayers who want to ensure that they’re doing the right thing and playing by the rules when utilizing bitcoin and other digital currencies,” he said. Bitcoin, the computer-driven virtual currency that has gained momentum since it first popped up in 2009, has presented challenges for regulators. It has attracted a growing following of users and merchants, but it has no central bank and no government oversight. In the wake of the collapse of one of the largest online exchanges for buying and selling bitcoin last month, governments around the world have stepped up their efforts to figure out a way to protect consumers against fraud and other illegal activities. The I.R.S.’s announcement also included a question-and-answer section: Q-1: How is virtual currency treated for federal tax purposes? A-1: For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency. Q-2: Is virtual currency treated as currency for purposes of determining whether a transaction results in foreign currency gain or loss under U.S. federal tax laws? A-2: No. Under currently applicable law, virtual currency is not treated as currency that could generate foreign currency gain or loss for U.S. federal tax purposes. Q-3: Must a taxpayer who receives virtual currency as payment for goods or services include in computing gross income the fair market value of the virtual currency? A-3: Yes. A taxpayer who receives virtual currency as payment for goods or services must, in computing gross income, include the fair market value of the virtual currency, measured in U.S. dollars, as of the date that the virtual currency was received. See Publication 525, Taxable and Nontaxable Income, for more information on miscellaneous income from exchanges involving property or services. Q-4: What is the basis of virtual currency received as payment for goods or services in Q&A-3? A-4: The basis of virtual currency that a taxpayer receives as payment for goods or services in Q&A-3 is the fair market value of the virtual currency in U.S. dollars as of the date of receipt. See Publication 551, Basis of Assets, for more information on the computation of basis when property is received for goods or services. Q-5: How is the fair market value of virtual currency determined? A-5: For U.S. tax purposes, transactions using virtual currency must be reported in U.S. dollars. Therefore, taxpayers will be required to determine the fair market value of virtual currency in U.S. dollars as of the date of payment or receipt. If a virtual currency is listed on an exchange and the exchange rate is established by market supply and demand, the fair market value of the virtual currency is determined by converting the virtual currency into U.S. dollars (or into another real currency which in turn can be converted into U.S. dollars) at the exchange rate, in a reasonable manner that is consistently applied. Q-6: Does a taxpayer have gain or loss upon an exchange of virtual currency for other property? A-6: Yes. If the fair market value of property received in exchange for virtual currency exceeds the taxpayer’s adjusted basis of the virtual currency, the taxpayer has taxable gain. The taxpayer has a loss if the fair market value of the property received is less than the adjusted basis of the virtual currency. See Publication 544, Sales and Other Dispositions of Assets, for information about the tax treatment of sales and exchanges, such as whether a loss is deductible. Q-7: What type of gain or loss does a taxpayer realize on the sale or exchange of virtual currency? A-7: The character of the gain or loss generally depends on whether the virtual currency is a capital asset in the hands of the taxpayer. A taxpayer generally realizes capital gain or loss on the sale or exchange of virtual currency that is a capital asset in the hands of the taxpayer. For example, stocks, bonds, and other investment property are generally capital assets. A taxpayer generally realizes ordinary gain or loss on the sale or exchange of virtual currency that is not a capital asset in the hands of the taxpayer. Inventory and other property held mainly for sale to customers in a trade or business are examples of property that is not a capital asset. See Publication 544 for more information about capital assets and the character of gain or loss. Q-8: Does a taxpayer who “mines” virtual currency (for example, uses computer resources to validate bitcoin transactions and maintain the public bitcoin transaction ledger) realize gross income upon receipt of the virtual currency resulting from those activities? A-8: Yes, when a taxpayer successfully “mines” virtual currency, the fair market value of the virtual currency as of the date of receipt is includible in gross income. See Publication 525, Taxable and Nontaxable Income, for more information on taxable income. Q-9: Is an individual who “mines” virtual currency as a trade or business subject to self-employment tax on the income derived from those activities? A-9: If a taxpayer’s “mining” of virtual currency constitutes a trade or business, and the “mining” activity is not undertaken by the taxpayer as an employee, the net earnings from self-employment (generally, gross income derived from carrying on a trade or business less allowable deductions) resulting from those activities constitute self-employment income and are subject to the self-employment tax. See Chapter 10 of Publication 334, Tax Guide for Small Business, for more information on self-employment tax and Publication 535, Business Expenses, for more information on determining whether expenses are from a business activity carried on to make a profit. Q-10: Does virtual currency received by an independent contractor for performing services constitute self employment income? A-10: Yes. Generally, self employment income includes all gross income derived by an individual from any trade or business carried on by the individual as other than an employee. Consequently, the fair market value of virtual currency received for services performed as an independent contractor, measured in U.S. dollars as of the date of receipt, constitutes self employment income and is subject to the self-employment tax. See FS-2007-18, April 2007, Business or Hobby? Answer Has Implications for Deductions, for information on determining whether an activity is a business or a hobby. Q-11: Does virtual currency paid by an employer as remuneration for services constitute wages for employment tax purposes? A-11: Yes. Generally, the medium in which remuneration for services is paid is immaterial to the determination of whether the remuneration constitutes wages for employment tax purposes. Consequently, the fair market value of virtual currency paid as wages is subject to federal income tax withholding, Federal Insurance Contributions Act (FICA) tax, and Federal Unemployment Tax Act (FUTA) tax and must be reported on Form W-2, Wage and Tax Statement. See Publication 15 (Circular E), Employer’s Tax Guide, for information on the withholding, depositing, reporting, and paying of employment taxes. Q-12: Is a payment made using virtual currency subject to information reporting? A-12: A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property. For example, a person who in the course of a trade or business makes a payment of fixed and determinable income using virtual currency with a value of $600 or more to a U.S. non-exempt recipient in a taxable year is required to report the payment to the IRS and to the payee. Examples of payments of fixed and determinable income include rent, salaries, wages, premiums, annuities, and compensation. Q-13: Is a person who in the course of a trade or business makes a payment using virtual currency worth $600 or more to an independent contractor for performing services required to file an information return with the IRS? A-13: Generally, a person who in the course of a trade or business makes a payment of $600 or more in a taxable year to an independent contractor for the performance of services is required to report that payment to the IRS and to the payee on Form 1099-MISC, Miscellaneous Income. Payments of virtual currency required to be reported on Form 1099-MISC should be reported using the fair market value of the virtual currency in U.S. dollars as of the date of payment. The payment recipient may have income even if the recipient does not receive a Form 1099-MISC. See the Instructions to Form 1099-MISC and the General Instructions for Certain Information Returns for more information. For payments to non-U.S. persons, see Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities. Q-14: Are payments made using virtual currency subject to backup withholding? A-14: Payments made using virtual currency are subject to backup withholding to the same extent as other payments made in property. Therefore, payors making reportable payments using virtual currency must solicit a taxpayer identification number (TIN) from the payee. The payor must backup withhold from the payment if a TIN is not obtained prior to payment or if the payor receives notification from the IRS that backup withholding is required. See Publication 1281, Backup Withholding for Missing and Incorrect Name/TINs, for more information. Q-15: Are there IRS information reporting requirements for a person who settles payments made in virtual currency on behalf of merchants that accept virtual currency from their customers? A-15: Yes, if certain requirements are met. In general, a third party that contracts with a substantial number of unrelated merchants to settle payments between the merchants and their customers is a third party settlement organization (TPSO). A TPSO is required to report payments made to a merchant on a Form 1099-K, Payment Card and Third Party Network Transactions, if, for the calendar year, both (1) the number of transactions settled for the merchant exceeds 200, and (2) the gross amount of payments made to the merchant exceeds $20,000. When completing Boxes 1, 3, and 5a-1 on the Form 1099-K, transactions where the TPSO settles payments made with virtual currency are aggregated with transactions where the TPSO settles payments made with real currency to determine the total amounts to be reported in those boxes. When determining whether the transactions are reportable, the value of the virtual currency is the fair market value of the virtual currency in U.S. dollars on the date of payment. See The Third Party Information Reporting Center,, for more information on reporting transactions on Form 1099-K. Q-16: Will taxpayers be subject to penalties for having treated a virtual currency transaction in a manner that is inconsistent with this notice prior to March 25, 2014? A-16: Taxpayers may be subject to penalties for failure to comply with tax laws. For example, underpayments attributable to virtual currency transactions may be subject to penalties, such as accuracy-related penalties under section 6662. In addition, failure to timely or correctly report virtual currency transactions when required to do so may be subject to information reporting penalties under section 6721 and 6722. However, penalty relief may be available to taxpayers and persons required to file an information return who are able to establish that the underpayment or failure to properly file information returns is due to reasonable cause.
  21. There is over 5% of the worlds gold that is missing since the early 1900's that was accounted for. What I am saying is that this gold had value before, it was accounted for, therefore, it was holding a place in value in the world. Money has been lost and it's slowly showing up at 30% discount, since it was either stolen, melted, ect and it is not registered now. It's been missing for so long that most folks who are in the know don't want to find it, just sell it! Now, do you get my point? I do understand your thoughts on everything else around gold appreciating or depreciating. IMMHO, this is semantics. What makes me believe on value must express consumption. This is my thought! If I need it, I will use it. If I don't need it, then, you know what. There are too many factors, on my mind to believe that gold does not fluctuates. Semantics again, "Gold's luster's is another's value!" and you may quote me on this! Too many other metals that exist that have similar usable intrinsic value that would make gold just stay put, monetarily speaking. Thank you Machine. I always appreciate your thoughts and input. I still want to do business with you once this RV hist. GLTY and all. Go RV,
  22. I agree partially with you. The parts that I disagree are when gold, since the beginning of it being a currency, it well has appreciated spontaneously. The other is the not registered gold, like the one from the world wars that changed sides and it is not registered. Examples would be Sumatra gold, Yamashita gold, mostly Asian gold that is still missing in the books but surely is available for purchase at a 30 percent premium discount, since it's missing and not registered. This 30% has to go somewhere. Enough said. Thanks Machine for all that you do. GLTY and all. Go RV.
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.