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madness

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  1. madness

    China Contract Rate

    I remember at one point Bush did say we have oil credits with iraq, so it might make sense they have a contract rate, does not hurt to ask, worse they could say is no we dont have that.
  2. madness

    Taxes when we exchange

    That's great if they decide to do it that way....but I didn't get a receipt. I walked up to a number if different merchants in Iraq ( I was deployed) and simply exchanged US dollars for dinar...would have done it at a bank but they wouldn't allow us in...*LOL* Ok so in that case, first things first good to talk to a lawyer, best bet is you can sign an affidavit under oath/ penalty of perjury on when you purchased your dinar. may or may not work but its worth a try. it really depends on how much dinar you have and is it worth it to fight it. if you dont have much then, well whats the point, now if you have a lot?, well there is a hell of a difference between 15 and 37 percent in taxes, then I would fight it all the way to the judge, appeals and all. Rather than fight you in court, a good lawyer may say lets make a deal. well have to see, hope it works out for you.
  3. LOL oh no another day with Restored Republic. BS. these idiots put out this garbage every single day, im amazed some of the dinar sites let them post crap and waste peoples time, they should be writing the next script for star wars, Darth vader goes to RV in reno, landed death star at area 51 and is cashing in his dinar too. Anything these idiots put out is either taken from another site or plan fake news. its a click and bait site so they can make money.
  4. madness

    Another Lying Guru Caught In His Own Lies.

    I read another poster that said kap could suck the sunshine out of Florida, so his theory is that the dinar would slowly raise in value, I find that hard to believe for the simple fact on an international market how would they price oil per barrel, kuwaiti dinar is $3.30 per us dollar, now thinking logically Iraq's dinar value will be based off their oil too, just like kuwaiti, so common sense would tell you since Iraq has the 3rd largest oil reserves in the world, that their dinar will and should come out at the price of the kuwaiti dinar or close to it. if not iraq would be selling themselves short in the world market. Plus the CBI bank said they would NOT float the dinar.
  5. What is amazing is why dinar sites are letting them post this BS, cause thats what it is, pure stinky BS, either they are gov. plants posting fake news, or they are just plain TROLLS, trying to get a rise off people. for those of you old enough to remember, can you recall back in high school when you would go to the liquor store and buy your soda and goodies, you had that black and white newspaper for sale, aliens abduct woman in back yard take her to another planet and bring her back, talking parrot does open heart surgery with monkey and saves mans life, LOL these idiots are the children of the founders of that newspaper, they just trying to carry on the tradition, but as you can see its not working out too well. Bruce and Judy are just dinar rv entertainment till we all exchange. Oh and dont forget to buy bruces health insurance on your way out.
  6. madness

    Taxes when we exchange

    On a more practical note - I know for me I will probably have to treat it as ordinary income anyway - because I have no receipt for most of my Dinar." And this is why I said in my previous post that you need to keep your receipts so you have proof of purchase, if you bought your dinar and held it for over a year, when you file your taxes you definitely file it long term capitol gains, if the IRS comes back on an audit, you have proof you had your dinar " AS AN INVESTMENT" and held it over a year hence long term capitol gains.
  7. madness

    Taxes when we exchange

    Ok as far as exchanges go, if it is short term meaning you owned it less than 1 year, you could be taxed as ordinary income, that would be 39.6% if you cash in I think like over 456,000 which will then put you in the highest tax bracket that equals 39.6% plus state taxes, ouch. Now if you have dinar for over a year, it will be taxed as long term capitol gains at a lower tax rate, got to see what this next years tax rate holds for us, " Make dam sure you keep all your receipts in case an IRS audit" this way you can prove you owned it for more than a year. Im going at this 2 prong cause Im in CA, so that means not only I get jacked on short term on fed taxes, I get bent over by the state with no reach around and there using sand paper with no vaseline. couple things come to mind, if there is a contract rate oh hell cash in and take half so what, if not cause they say its a myth, then if you live in a high tax state you might consider just exchanging enough to sit back and figure out your options, like moving to a no tax state, wait a year especially if your short term gain, and then move, then cash in. IRS code 988 mainly is geared towards forex traders and you have to claim that, now IRS code 1256 I think you can claim 40% short term 60% long term, but that is an outdated code I might be reading so double check that. I was moving out of state anyway, been in this short term, so its in my best interest to move, wait awhile and then turn in the rest. My theory is if im not getting the contract rate or there is not one at all, there is no rush at all. cash in $300,000 to move and wait out the short term clock, by then you never know it might go up in value. Im not a tax person, just went to HR block tax school and I studied light corporate tax law, but that was awhile ago, tax law are always changing year to year so, make sure you do your homework.. worst case and this is for the people that have any currency under a year like me, best to just cash in what you need and wait till your year is up and then cash in for long term gains tax. good luck.
  8. madness

    Oil credits

    I remember hearing this back when bush was in office, bush had said something to the effect that yes we would receive oil, it was to repay for the war and to pay us back too and too build their country back up. This was way back, and I have only known about dinar for about 3 months now. so I think there might be some truth to this, hard to call though, since bush and cheney basically lied there arse off to all of us.
  9. Well read that this will be a tax free event. lol well it would be a tax free event anyway, its not a darn event, by IRS tax code foreign currency is not considered an asset, therefore cannot be taxed on the capital gains tax, hence I dont think you report it as income " now the interest you make on the money that is taxable" , congress would have to pass a law and doubt that will happen before an rv is put into motion. now being from california and seeing how corrupt these dam politicians are out here, I would not put it past those bastergeez to hold an emergency meeting and try and pass a state income law on taxes to take a slice, guess best bet is to keep fingers crossed this rvs this year and ride out the tax year. and if you are in a high income state would highly suggest you get the hell out to a no income tax state. I read this somewhere on the net that the poster had called the IRS to confirm it. so take it with a grain of salt.
  10. madness

    Dinar exchange questions

    Im not sending anyone anything, my friend is part of a group, when the rv hits he will tell me what to do and I will follow his instructions, should be straight forward, just glad I got a darn good chunk of dong, I like the dong, think I will have good luck with that, well see.
  11. Well one this is for sure, like my buddy said, he is from the Nixon days, people vote with their wallets plain and simple, logic dictates that not doing the rv might be political suicide. being new to this, I did hear that maliki guy is against the rv, so if he gets elected kiss your rv goodbye. If abadi wants to get re elected, the smart thing to do, is do the RV put that money in peoples pocket, make them happy as hell and secure that win for the election.
  12. madness

    Dinar exchange questions

    Well I also heard there is a contract rate of $28.50 and you sign an NDA, i hope that might be available, not holding my breath but hoping, I think the dong is going to pay off better. I guess people were basing there price of the dinar when saddam was in power, which if I recall was something like 3 dollars plus before we took him out. I could see it going back to that in time or maybe now, been in business since 97 so I kind of take things with a grain of salt, but if it does RV cant hurt to make a little extra change. All kinds of crazy rumors flying around, some say tonight, Tues. next week, could be middle of April, but seeing as my friend has been waiting 6 years, he said this is closet it has ever sounded to actually happening. So im going to sit here and drink my beer and see what happens. One thing is for dam sure, I sure as hell am not going to let any of this mess with my beer drinking time. LOL cheers.
  13. madness

    Dinar exchange questions

    How long have you been at this, incidentally?. been at this for about a little over a month. looks like some people in the private groups have received the 800 numbers, getting rumors, but I have done a lot of research and it looks like its going to pop, its just a matter of time. Plus I got some dong too. so hoping that will pay off too. Hell even if the dinar comes on the market at $3.71 that is still a darn good return on your money. I did not put too much in so im not tripping. I am going about life like I always do.
  14. madness

    Dinar exchange questions

    ok thanks for clearing that up.
  15. First post, wanted to thank you all for having this forum. I am worried about the exchange coming soon, I really would like to get the contract rate sign the NDA etc etc. but I am concerned. it says first come first serve, so did they set aside enough contract money for the west coast exchangers? New York will have a 3 hour head start. Also just your all opinion, they say there are about 4-8 million people going to cash in when the 800 number comes out, with that many people blowing up the phones, its just mind boggling how they are going to handle that many calls coming in all at once. Any last advice on what one might do to increase there odds of getting the contract rate. would you call multiple banks and see who can get you in first? will I be able to just tell them over the phone I want the contract rate can I get it. you all see where Im going with this, any advice or opinions would be greatly appreciated. I see this is going to pop real soon and the biggest fear I have is not being able to get the contract rate. thanks.
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