BurntToast

Hello tech support, I keep getting messages sent from "Dinar Vets Message Board" sent to my email address. The subject reads "A reply has been made to a personal conversation". I didnt do anything to receive this correspondence. Would you make it stop please. Just started getting them yesterday and I am getting a lot of them. Thank you. ...

That's well built.

Talk with tax lawyer or tax accountant and then your taxes.

Buying and selling inside Iraq with dinar is a wash. The price tag on a 5000 IDQ loaf of bread would have to be changed to 5 IDQ. Value remains the same. However, their purchasing power outside Iraq increases by 1000. With one dinar they can buy .86 dollars worth of goods, where before they could only buy .00086 (or whatever). That would mean that when you exchange your 1 dinar, you will get $0.86, but before you would get $0.00086. I believe this is the correct math. This would amount to a LOP on the cost of the goods, not a LOP of the currency.

You will give personal info when you cash in, but I would not give SS# out to a seller. I have made several purchases and the only thing they want from me is the check.

Depending on how much you invested, the income from your investment will likely put you in a high tax bracket. Short term capital gains is 35% in the highest tax bracket. Then you can probably figure a windfall tax, I am guessing at 2%, then figure state tax. I figure I will walk away with about 58%. The only thing I know about taxes is that we pay them one way or another. Consult a tax expert, of course, but expect to pay.

Just trying to expand my understanding here, but in my mind it doesnt matter how much foreign currency Iraq has to back the dinar if it RVd at any amount. Because, for every dinar cashed in, Iraq could turn around and convert it into any other foreign currency at the new exchange rate. For example, if I turn in 1 mil. dinar post RV of say 1 USD, they pay me 1 mil. USD, they take the 1 mil. dinar and purchase 1 mil. worth of goods from wherever. In fact, their purchasing power (internationally) would be multiplied by whatever factor the new exchange rate is. The question then in my mind is, how much should, or can, or will Iraq's purchasing power increase via the exchange rate? No doubt there is much I dont understand, but how can Iraq's purchasing power be allowed to increase by 1000-3000 percent? Certainly they need to re-instate value they lost due to the war, but is it that much?

I am very new at this. Can you buy dinar through a forex account? Which ones are best?

Certainly there is hype and pumping surrounding this investment, I would expect that, but that doesnt negate it's validity. It is a long-shot speculation for sure, but it is based on legitimate factors. I have bought all of mine within the last month and have resigned myself to certain realities and possibilities regarding this investment. Dont think it's not real, but keep your head. Be willing and able to take a loss.

Hilarious... now we know what you look like. Watch your back!!!

Where's the surprise?

kill the wabbit, kill the WABBIT, KILL THE WABBIT, eh eh eh eh. You waskowy wabbit.

I posted this on another thread; For sake of argument lets say a loaf of bread in Irag costs 5000 IDQ, or $5 USD. No lets say there are the two IDQ circulating at the same time, a $5000 IDQ and a 5 IDQ. That loaf of bread would have to have two prices on it, 5000 IDQ and 5 IDQ. Once the 5000 note is out of circulation, the vender simply takes off loaf of bread the higher noted price, in effect lopping off three zeroes. A 5 IDQ is now 5 USD, a wash. The pricing (not the value) of the goods being purchased have to be changed also. This line of reasoning tells me that the 5 IDQ that is replacing the 5000 IDQ is the RV. All other arguments I have read take huge assumptions. Other countries in the past have simply issued new lower denominations to replace the old ones. I would love to be wrong. The only way to really know is to go to the source of that article and ask if a 25000 IDQ have the same value as the new 25 IDQ. The question in my mind is the exchange rate. I would guess that it would remain until the old currency is out of circulation. Then after a deadline, a new rate is established. Old currency is gone, and 1 IDQ=1 USD (for sake of argument). Even if the old and new are being exchanged at the same time, I am guessing, but Irag could simply issue protocol that tells banks that a 25000 IDQ exchanges for a new 25 IDQ. Then after the established time period, you cant go trade in any 25k IDQ that you may still have because they are officially out of circulation. The question I ask myself is, why would Irag officials issue a policy such at a RV that would require them to pay out billions or trillions of USDs and other currencies to match their old currency in circulation? Simple redenomination avoids that. If you where an Iraqi, what would you do?

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I just posted this on another string. For sake of argument lets say a loaf of bread in Irag costs 5000 IDQ, or $5 USD. No lets say there are the two IDQ circulating at the same time, a $5000 IDQ and a 5 IDQ. That loaf of bread would have to have two prices on it, 5000 IDQ and 5 IDQ. Once the 5000 note is out of circulation, the vender simply takes off loaf of bread the higher noted price, in effect lopping off three zeroes. A 5 IDQ is now 5 USD, a wash. The pricing (not the value) of the goods being purchased have to be changed also, i.e., revalued. This line of reasoning tells me that the 5 IDQ that is replacing the 5000 IDQ is the RV. Please, debunk my reasoning. I want to be wrong.

For sake of argument lets say a loaf of bread in Irag costs 5000 IDQ, or $5 USD. No lets say there are the two IDQ circulating at the same time, a $5000 IDQ and a 5 IDQ. That loaf of bread would have to have two prices on it, 5000 IDQ and 5 IDQ. Once the 5000 note is out of circulation, the vender simply takes off loaf of bread the higher noted price, in effect lopping off three zeroes. A 5 IDQ is now 5 USD, a wash. The pricing (not the value) of the goods being purchased have to be changed also, i.e., revalued. This line of reasoning tells me that the 5 IDQ that is replacing the 5000 IDQ is the RV. Please, debunk this reasoning.

Yup. They can afford to forgive the debt and expand because of all the interest we are paying them.

I am here to learn and get useful insights that might help me make my future and my family's future better. Thanks for the useful posts.

PS. Thanks for more post. By the way, I already do own dinar. Jump first, ask questions later, how's that for taking a risk?

I understand that there is risk in any investment and am willing to take a high risk as long as it looks plausible. I am just trying to sift through the hype and hear-say and find solid current facts. Maybe I just don't know where to research. I guess my bottom motivator for my post is that even thought I am willing to take a risk, I don't want to take one based on puffed up information. Anyway, thanks for the reply and I will check out the book.

"Iraqi Central Bank is working on a strategy to delete the zeroes of the Iraqi currency in and out of their face value while maintaining the values of cash and purchasing power." Sounds to me like its value neutral. Just making it easier to count.