GJM

chuz38 - what was Shiela's concern with filling out form 104? Thanks.

I'm sorry about your job loss and possible house foreclosure. Read Sonny1's chat of 5-24. I think it was quite encouraging. Sonny1 firmly believes it will occur on or before the 26th of July. Adam also believes it is near. He said today the low inflation rate of 3% and news they will not lop is a great indicator we are near. Keep the faith.

I would think, as you suggested, that you could keep the lower denoms (500 or less) for a longer period of time - beyond the "30-90" day possible cash in period. There is the evititable tax rate hike in 2011 tho'. Food for thought.

Appreciate so every time I see sonny1's name at the top of the Chat! I look forward to the honest info shared by him. Sonny - you would be sorely missed by many!

One of the first things Adam recommends after the RV is to hire one of the best CPA's to advise and counsel us on our taxes. That is so true. There is a difference between "tax avoidance" which is legal and "tax evasion" which is illegal. I plan on using every legal tax avoidance strategy that can be upheld in any dispute. Regarding taxes, the best book that influenced me twenty years ago was entitled "How to be Free in an Unfree World." The strategy is that the IRS is a limited resource and can only concentrate its attention on a limited number of citizens. You want to stay under the radar and remain invisible. If you yell out "hey, Uncle Sam, up yours" then all the large resources of the government are aimed against you. My strategy will be to have a legal tax avoidance investment plan that doesn't raise a lot of red flags and pay what taxes are owed.

I thought the same as you - but is was not the case - I had sent my application online and forgot to attach my passport. I sent my passport later directly to Mr. Issa. He informed me that they hadn't received my online application. I resent the ap to him and he was very quick to get it set up. Anyway - you might want to verify that they received your ap (if you sent it online). Mr. Issa was very helpful and after a week or so - I received my account #s. GJM

Wanted to inquire on the accuracy of my understanding about purchasing gold. There are essentially two ways you can buy gold. The first is bullion gold which is sold in bars or coins, such as the American Eagle, Canadian Maple Leaf, or the South African Krugerrand. Usually the rate you pay for this type of gold is 5% over the spot rate of gold as of that day in the market. Some dealers attempt to steer people from this market by stating that with a stroke of a pen the President could require citizens to turn in their gold as President Roosevelt did in 1933 (they were paid $20.67 per ounce). It is important to note the reason Roosevelt signed this order was that the country was on the gold standard and if people were exchanging their dollars for gold, the government's own gold supply would be diminished. In 1971, the United States went off the gold standard. The second way you can buy gold is by purchasing historic gold coins that have additional collector's value beyond their gold content. These coins were exempt to being "confiscated" by the government. However, these coins usually have a 30-35% markup spread over the spot price of gold. If one was purchasing gold as insurance or an hedge against a falling dollar and inflation, with a spread of 30 to 35%, gold would have to rise from $1099 an ounce to $1483 before you would break even. Isn't that a lot to pay simply to protect against government confiscation, especially since we are no longer on the gold standard? Appreciate your input on this.

Dee1031 - so glad to see a post from you - hope you are doing ok.

If I could vote - I like Adam's post better! HA!

David, Interested - Could you please send me more information on this? Thx. GJM

Hi Summer, I believe you would have to leave the $150 in your USD account. If you're wanting the max amount of dinar for your money- then you might be best buying the currency. The benefit of a Warka account is you can ride the rate up over time if it comes out low - without having to worry about a "cash in period". You can also to ISX - (something that I'm not familiar with). The cons - Warka is not insured and I believe you can only withdraw $5000 a day. Getting a Warka account is another way of covering all the bases. FYI - I do have a Warka account. Others - correct me - please if I'm wrong on any of this.

Thanks for the ongoing updates! Those of us who have joined you in the battle (same or different methods) appreciate your "stick to edness" <----- is that a word?? Keeps us all going! Yea Adam! Lost 3.5lbs last week (1st week usually loose more). Weigh in again on Sat. Zumba class tonight - moving in the right direction and do indeed feel better.

Happy Birthday gankans! Hope you get an rv for a birthday gift!!!

Welcome Mona Mae! Glad you're along for the ride!!!

Way to go Adam! You are one determined dude! You've moved things around to make it work and you're keeping on. 10 days is great. I have to say, I'm inspried. Not dong BFL, but have gone on a healthy calorie reduction while trying to hit the gym 4 days a week for eliptical cardio, weights, and swimming laps. Your determination is infectious. Thanks and keep it up!

Perhaps pricey - but if you were trying to add a few of the smaller denoms to your portfolio - might not be so bad. 50's would make great gifts for kids - besides - 1 pack (100) of 50's are going for $29 plus shipping on Ebay bin. OK - bash away! LOL

D I N A .... too funny!

Triathlete and Mdautomotive, you both have signed up for Warka online banking. My question is, do you have a English translation of terms and conditions that we are agreeing to at the bottom of the ap form (all in Arabic)? Also, it states "this commitment shall stand to be irrevocable for any reason whatever". Am I paranoid or is that a part of any standard online banking agreement? Appreciate your help - want to obtain online banking to be able to check account status.

I'm going to buy a clunker from the "Cash for Clunkers" lot and lie low!

Isvet- and others - Please check out Azad Jamal Al-Din http://www.youtube.com/watch?v=8P3zcjriPnM. If the translation is correct, He loves his people, wants to improve Iraq through democracy, condemns Terrorism and is a cleric who loves Allah.

Medic - "SOONER OR LATER A LEADER WITH CHARISMA WILL SHOW UP" IMO ---- HE SHOWED UP ON THE SCENE OCT. 31, 2009 - AND HE'S COMING TO THE US JAN. 25TH! CHECK HIM OUT ON YOU TUBE!!!! HE'S GREAT! I'LL BE PRAYING FOR HIM! AYAD JAMAL ALDIN FOR PRIME MINISTER!!!!

Dinarified???

Okay - What is a URL? I have the image on my desktop - I don't think I have any photobuckets lying around - would it be possible to explain to me how to transfer the from my desktop to this place. Thanks so. GJM

Hi Adam, After establishing a Warka Account - To fund a Warka Account - I should wire say $500 to the newly established account #. Will Warka then automatically exchange the amount over the $150 to IQDs to meet the 300,000 IQD requirement or do I need to specify with wire? Appreciate your assistance. GJM