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gman51

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Everything posted by gman51

  1. I was just thinking about that post when I read yours. I realize that there was a Presidential Order put into effect giving U.S. Citizens the right to invest in Iraq, including the Dinar, but I have read that order and it says nothing about rescending the law in Iraq that states no money in large quantities can be removed from Iraq by investors or speculators. It is confusing, to say the least. I know this is something I should have researched before buying my Dinars, but I didn't know the situation existed at that time (2003). Any thoughts? I am going to spend some time researching this. I will let you all know what I find out.
  2. I was following along pretty good until I saw number 3 midway: "They were in Chapter 7 protection". Here is another person who has mistakenly quoted Chapter 7 as Bankruptcy Protection. One more time: Bankruptcy is an American Law. It does not protect anyone except U.S. Citizens. Iraq is not a citizen of the U.S A. Chapter 7 in this case refers to Sanctions imposed on Iraq by the United Nations Security Counsel. They were put into place when Saddam invaded Kuwait. They are restrictions, not protection. They limit Iraq, not protect them. They are negative, not positive. I was starting to believe this person, but if they don't know this simple fact, why should I believe any of the rest of this statement.
  3. I have been around since 2003, and I say this guy is spot on!!! Just because someone is a newbie, doesn't mean they have no common sense, or intelligence. However, I do not agree with putting anyone down to make a point, EVER.
  4. Welcome to the "University Of Iraqi Dinar"
  5. gman51

    No RV

    Who is going to be in charge of collecting?.................. Hope everyone had a fabulous Christmas. We spent ours with our first grandbaby. She is the most precious thing on earth, and now is our reason for existing. Best Christmas so far.
  6. I bet if you ask 10 Billionaires if they had 1 investment that made them alot of money, all of them would tell you that, more than once, they invested in something that everyone else told them was a mistake, or a "scam", and it made them millions. Sometimes you have to go against the crowd and go with your instincts.
  7. According to this nobody in parlament is thinking about an RV at all. They list the 3 priorities right here.
  8. I agree wholeheartedly. You can tell by all the negative votes you received that alot of people on here will stay in denial until proven otherwise. I would love for it to RV today, but the reality of the situation is just what you said. I feel sorry for those who desperately need this to happen, and I pray for them "every day". The only one who can make this happen now is GOD Himself. Who knows, maybe it is in His plan for us. Why hasn't it happened then? It has been dragging on for 10 years or more already.
  9. I don't know about all the rest of this post, but I too have a Safe Dposit box at my bank (B of A) for $55 a year. I feel alot safer then when I had it at home.
  10. gman51

    WHY?

    The Iraqi government has been racked with corruption for many, many years. Their goal is to have an honest government that represents the people of Iraq. Everything they do now, and in the future, will be done slow and deliberate. It will be thought out, debated, researched, and every angle possible with be addressed before any decisions are made. Might as well get used to it and learn some patience, because IMHO no matter how bad you want it, things will happen when they happen and there is nothing we can do to influence or change it. We are sitting on the most lucrative investment known to man right now. The Iraqi Dinar has no place to go but UP. For the first time in 7 years, I believe it could actually happen any time. Hang in there people. Merry Christmas everyone.
  11. What if they also replace the old currency with new currency, like they did in 2003 ? Do the old Dinar still have their value?
  12. You know , you are right. The HCL hasn't been in the news for about a year. Prior to that, it was discussed on a daily basis for about 4 years on every site I monitored. That is interesting. Wait, I do remember, from time to time, when it really looked like it was going to RV, someone occasionally brought it up saying it still was a hurdle to jump. All the "smart people" knew about it, ie., Steve, Phoenix, Keep, Chief V, Scooter, Ronscarpa, Papajack, Zantac, and many others. Shouldn't have to go back very far to find a reference to it somewhere.
  13. I don't know why, at this point, some people on here still are confused about the tax code in reference to currency exchange. Many people have stated IRS Publication 988c on here numerous times. It is very easy to read and understand. As a CPA, I have many people come to me in trouble with the IRS. Most of the time, someone tried to explain to them the truth, but they didn't listen. They read into the Tax Code what they wanted it to say, not what it actually said. I can tell you this, stupidity has never been accepted by the IRS as a reason for being wrong. They will stick it to you HARD! Please don't let such a wonderful experience turn into your worst nightmare because of greed. PAY YOUR TAXES GLADLY!!! If you don't, the IRS will destroy you.
  14. It should be possible to prove you were there and when. I believe that would be good enough in case of an audit. The IRS can be reasonable at times. And I do not think they want to penalize someone in uniform.
  15. I am beginning to think that this whole idea is from 2003 and they are talking about the Dinar we now hold as the "New Dinar". This wouldn't be the first time that an old idea was brought up as though it is current.
  16. Many people on here think Ali is the second coming, when it comes to Dinar. He is the most popular, the most knowledgable, and in my opinion the most sought after for information from the media. There are a couple of interviews with him, by the media, somewhere in the archives of this site. All in all, though, you are right to question his credentials, no matter what people say here. Always do your homework. By the way, welcome to the site.
  17. I have to agree with you on this one Keep. Iraq has shown a track record of slow and steady.
  18. Man, you are catching on quick. I don't understand why you got the negative marks. You were civil in your reply, you did not curse, you did not bash anyone. All you did was state the obvious. You got a positive vote from me. The negative votes either came from newbies, or pumpers. By the way, welcome to our world here at DV. I am a 7 year man and still glad I invested. If you need anything don't hesitate to ask.
  19. Actually, the part that pertains to us is the Capitol Gains Taxes. According to this, there will be no change in the current tax structure, which means: Short Term (less than 1 year) 35% or less Long Term (more than 1 year) 15% or less Your taxes are determined by your tax bracket and other issues in your portfolio. Contact your Investment Counselor for more details. I am a CPA "not" an Investment Counselor. Nothing I have posted here should be taken as financial advice (I have to post this disclaimer to cover myself, sorry).
  20. Gotcha dude. I have 2 exotic dancers whose taxes I do every year. They come up with some deductions for stage props that sometimes make me blush. But, for creativity, years ago a friend of mine listed cocaine as an entertainment deduction. That took alot of guts. Or stupidity. As for the bank taking your taxes at cash in, that is not a function of the banks. You are responsible for your taxes. You must file a return in the year you cash in and claim it as income.
  21. I am still of the belief that the Dinar will rise in value as their economy begins to rise. I have thought this all along, with a hope of an RV always in the back of my mind. I guess that is why all the hype and let down hasn't affected me much. I still think this is an investment of a lifetime. In 5 to 10 years, you won't even recognized Iraq. I think they are on the brink of an explosive economical boom. I still think that some of what I have heard here could still happen and very quickly. There just isn't any presidence to look for in history. I guess we just have to wait and see. I do, however, agree with what keep is saying. Also, could this money have anything to do with all the funds that were seized at the beginning of all this? Maybe they released them.
  22. I stand to differ with you Keep. I am a CPA with a Masters, and currently working on my PhD in Business Admin. with a specialty in Accounting. I also have worked for the government for 12 years, and this is not a simple currency transaction. As stated above, any transaction where a profit of more than $200 is made requires you to claim it as income on your tax return in the year that you sold it for profit. The tax rate will be determined by the length of time you have had the investment. Under 1 year is taxed as short term gain, and more than a year is taxed as long term gain. Currently short term is no more than 35%, and long term is no more than 15% of the gain. So, you can see where having proof of purchase might be a good thing to have, because knowing the U.S. Government, they will automatically charge you the short term rate if you don't have it. Not trying to start anything here, but I have watched and listened to explanations in this area before without responding. I felt it was time to respond since it looks like we could be there anytime. The IRS website has all you need to verify this. I believe it is Publication 933. Not sure though, I don't have them all memorized, yet!
  23. I don't know how changing the nominal value helps them accomplish their goal of removing the larger bills from circulation. What makes you think he was referring to you?
  24. I respect what you do here Keep. With all do respect, most people got into this investment on a whim. They saw an opportunity to maybe get rich, and they took it. Some friend or relative, or friend of a friend, or co-worker convinced them to invest, and they did. Research happened after they realized it wasn't going to revalue in a week. 90% of us haven't the foggiest idea how to invest. And I speak for myself more than anyone else. Not trying to start a fight with you, just throwing some reality in.
  25. What kind of aircraft is that in your avatar? I have seen it before a couple of times and wondered what it is. It was in the second Transformer movie. I think it is pretty cool looking.
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