Exchange in another country

[rocking/chair]

Something caught my eye on another post and I would like some feed back.

If we can exchange our Dinar for any other currency beside the US after the RV.Lets just use the example it's worth a 1 to 1 exchange.

I go to Italy with 200,000 dinar thats only eight 25,000. bills in my wallet.Exchange what I need to enjoy my self then move on to the next country etc.

I use the Dinar instead of the dollar to travel and buy things exchanging what I need where I am at.I know the exchange rate would be for what country I am in.

Now dont get me wrong I am a beliver we need to pay our tax's on what we earn but If I could buy a villa in France with my dinar instead of the dollar why not.

I am proberly missing something but just a thought. FEED BACK PLEASE.

[TonyDownTheShore]

In my opinion if you bought your Dinar from a dealer or a bank and got a receipt for the transaction that gets reported to the IRS, so the govenment knows how much you have so you'll have to pay your taxes no matter what, that's why Adam has other options, I myself will pay my taxes up front and live happily ever after.

[keepmwlknfny]

Something caught my eye on another post and I would like some feed back.

If we can exchange our Dinar for any other currency beside the US after the RV.Lets just use the example it's worth a 1 to 1 exchange.

I go to Italy with 200,000 dinar thats only eight 25,000. bills in my wallet.Exchange what I need to enjoy my self then move on to the next country etc.

I use the Dinar instead of the dollar to travel and buy things exchanging what I need where I am at.I know the exchange rate would be for what country I am in.

Now dont get me wrong I am a beliver we need to pay our tax's on what we earn but If I could buy a villa in France with my dinar instead of the dollar why not.

I am proberly missing something but just a thought. FEED BACK PLEASE.

I wouldnt count on being able to immediately use dinar anywhere you go.....it would be best to just convert it to USD because it is a convertible currency practically everywhere you go....its like a visa card lol

[bamagirl]

In my opinion if you bought your Dinar from a dealer or a bank and got a receipt for the transaction that gets reported to the IRS, so the govenment knows how much you have so you'll have to pay your taxes no matter what, that's why Adam has other options, I myself will pay my taxes up front and live happily ever after.

You and me both..

[The Machine]

just another thing for you to think about ..... you cant travel between any member states in the EU with more than £10,000 ($16,000) in cash no matter what currency it's in .... you'd have to declare it to customs at every border crossing or run the risk of having all of it confiscated .... good luck explaining that one

[truthful1]

Something caught my eye on another post and I would like some feed back.

If we can exchange our Dinar for any other currency beside the US after the RV.Lets just use the example it's worth a 1 to 1 exchange.

I go to Italy with 200,000 dinar thats only eight 25,000. bills in my wallet.Exchange what I need to enjoy my self then move on to the next country etc.

I use the Dinar instead of the dollar to travel and buy things exchanging what I need where I am at.I know the exchange rate would be for what country I am in.

Now dont get me wrong I am a beliver we need to pay our tax's on what we earn but If I could buy a villa in France with my dinar instead of the dollar why not.

I am proberly missing something but just a thought. FEED BACK PLEASE.

There are many ways for the irs to call tax evasion to that situation. i guess if you never plan on coming back to the usa, you would be good. my advise, pay the tax. its not worth the trouble. there are customs laws about how much money in value you are allowed to enter countries with, not to mention maximum amounts of time you are allowed to stay in another country. eventually, it will catch up with you. my advise, pay your tax and live in freedom. dont take the chance of your accounts being frozen and possibly confiscated.

[sportfisher]

Uhhmmm.............OK

This is not tax evasion.

This is small apples, you are talking about a $250 investment that goes right, 1:1 USD:IQD

You want to take a little travel spree

You have every right to do that and it is no one elses business including the IRS if you take foreign currency out of the Country and spend it.

They only get a cut when you convert to USD.

The only legality issue is crossing borders with more money then allowed without reporting.

Have a nice trip

Edited March 6, 2012 by sportfisher

[rocking/chair]

I dont have a problem paying my taxs.Trust me with my income I pay more than my fair share.

I was just wondering if there was any benefit to traveling out side the US using the dinar instead

of cashing allof it in here.

I do get our point. Just thought I would ask.

Thanks for the answers

[truthful1]

I dont have a problem paying my taxs.Trust me with my income I pay more than my fair share.

I was just wondering if there was any benefit to traveling out side the US using the dinar instead

of cashing allof it in here.

I do get our point. Just thought I would ask.

Thanks for the answers

There are ways to do what your saying, talk with a tax adviser first. with the increase in irs agents, dot your i's and cross your t's

[lomeygoat]

Something caught my eye on another post and I would like some feed back.

If we can exchange our Dinar for any other currency beside the US after the RV.Lets just use the example it's worth a 1 to 1 exchange.

I go to Italy with 200,000 dinar thats only eight 25,000. bills in my wallet.Exchange what I need to enjoy my self then move on to the next country etc.

I use the Dinar instead of the dollar to travel and buy things exchanging what I need where I am at.I know the exchange rate would be for what country I am in.

Now dont get me wrong I am a beliver we need to pay our tax's on what we earn but If I could buy a villa in France with my dinar instead of the dollar why not.

I am proberly missing something but just a thought. FEED BACK PLEASE.

You wouldnt have to declare 200,000 dinar at a border crossing now as its not worth much. You would not be evading tax on it because you dont owe any taxes on it, so how could that be?

I didnt buy all my dinars at a bank or broker so there is no so called paper trail. How can anyone know how much I have anyway. And what if you gave it to some one as a gift, or if some one gave it to us or we had a private sale. I am a beliver we need to pay our tax's on what we earn as well, but we didnt earn it did we. You take a trip abroad and take currency of that country with you, when you come back you change your currency back to money you can spend at home. You dont have to show or declare anything.

I'm English and my sister visited me a couple of weeks ago from England. She took home 1,000,000 dinar about $1000 worth. Below the so called threshhold. That was OK to do. She was planning a photo visit to Iraq to visit the ruins.

What ever dinar she has left over she will not get taxed on in England as she had it for a trip to Iraq, according to customs and excise in England. Lots of people take more cash than they should when they go abroad, in a money belt or as may people have, bank and credit cards. I have never been asked am I am bringing more than 10,000 Pounds into England, but when I fly back here to the USA, I always get asked. I don't in cash but I do have some high limit credit cards. Do they count though?

You pay taxes on taxes here....Buy a new car, pay tax on it, sell it on a year later, tax is taken on it again and again. That goes with everything, boat, RV, 4 wheeler....In England you are taxed when its new, but not when you sell it on.....Taxes on taxes.

But first we need to "RV" to worry about all that Tax stuff.......

[truthful1]

You wouldnt have to declare 200,000 dinar at a border crossing now as its not worth much. You would not be evading tax on it because you dont owe any taxes on it, so how could that be?

I didnt buy all my dinars at a bank or broker so there is no so called paper trail. How can anyone know how much I have anyway. And what if you gave it to some one as a gift, or if some one gave it to us or we had a private sale. I am a beliver we need to pay our tax's on what we earn as well, but we didnt earn it did we. You take a trip abroad and take currency of that country with you, when you come back you change your currency back to money you can spend at home. You dont have to show or declare anything.

I'm English and my sister visited me a couple of weeks ago from England. She took home 1,000,000 dinar about $1000 worth. Below the so called threshhold. That was OK to do. She was planning a photo visit to Iraq to visit the ruins.

What ever dinar she has left over she will not get taxed on in England as she had it for a trip to Iraq, according to customs and excise in England. Lots of people take more cash than they should when they go abroad, in a money belt or as may people have, bank and credit cards. I have never been asked am I am bringing more than 10,000 Pounds into England, but when I fly back here to the USA, I always get asked. I don't in cash but I do have some high limit credit cards. Do they count though?

You pay taxes on taxes here....Buy a new car, pay tax on it, sell it on a year later, tax is taken on it again and again. That goes with everything, boat, RV, 4 wheeler....In England you are taxed when its new, but not when you sell it on.....Taxes on taxes.

But first we need to "RV" to worry about all that Tax stuff.......

true. yet if your purchase of dinar was reported to the irs, then it rvs at a dollar and you jet out of the country and dont pay tax that year, there will be red flags popping up everywhere. then when you get back you may have some armed irs agents blowing down your door with their new remington 870's.

[MovieMaker]

Interesting feed / thread. Thanks

[rocking/chair]

I have a daughter that lives overseas which I will be visiting this summer.I was going to take the dinar with me and leave it there and use it when I travel there after the RV. Maybe buy a home for her to live in.So if the dinar is there before the RV then what would be the propblem with that.

[The Machine]

I have a daughter that lives overseas which I will be visiting this summer.I was going to take the dinar with me and leave it there and use it when I travel there after the RV. Maybe buy a home for her to live in.So if the dinar is there before the RV then what would be the propblem with that.

absolutly no problem at all with that ..... you may have to get your daughter to cash it in for you though as you wont have an account with any local banks in that country or maybe you do I dunno, normally you have to be a citizen/resident of a particular country to open bank accounts but maybe your bank has branches there.

[lomeygoat]

true. yet if your purchase of dinar was reported to the irs, then it rvs at a dollar and you jet out of the country and dont pay tax that year, there will be red flags popping up everywhere. then when you get back you may have some armed irs agents blowing down your door with their new remington 870's.

If I came back

[truthful1]

If I came back

I wouldnt blame you. this country has been strategically destroyed. purposeful destruction of our economy and currency through spending and the federal reserve. cutting our military by 1 trillion dollars, half the country receives some form of entitlement or pays no taxes, energy policy's that only make energy more expensive, rationed health care, constitution is being destroyed by lawmakers, a house of cards in the stock market, manipulated government statistics, being demonized for making a profit, no incentive to make money, etc. Leaving doesnt sound to bad. can i go with you??

Edited March 6, 2012 by truthful1

[OBE]

How does Guatemala look in all this?? Any info?

[George Hayduke]

How does Guatemala look in all this?? Any info?

I like it - Banks will take your IQD - offer you anonymous Visa/MC cards that you draw your own funds with anywhere in the world.

The High Limit Anonymous Visa & MasterCard – The cards have just the corporate name on them and in the magnetic strip. The cards are tied to your corporate bank account. The cards are loaded from your bank account online. You can load $10,000 per day onto the card and take cash out of ATM or make purchases. The daily limit is $10,000 per day in ATM cash pulls and purchases combines, per card. You can take out $10,000 on monday morning. Monday afternoon load in another $10,000 which will be available the next day. Card loads take overnight. You cannot load more than $10,000 a day to the card. This is the highest cash limit card we know of. The cards will have the Visa or MasterCard logo on them. They will work all over the world where the Visa or MasterCard logo is displayed.

Magic Kingdom Card

[HopefulTxn]

Something caught my eye on another post and I would like some feed back.

If we can exchange our Dinar for any other currency beside the US after the RV.Lets just use the example it's worth a 1 to 1 exchange.

I go to Italy with 200,000 dinar thats only eight 25,000. bills in my wallet.Exchange what I need to enjoy my self then move on to the next country etc.

I use the Dinar instead of the dollar to travel and buy things exchanging what I need where I am at.I know the exchange rate would be for what country I am in.

Now dont get me wrong I am a beliver we need to pay our tax's on what we earn but If I could buy a villa in France with my dinar instead of the dollar why not.

I am proberly missing something but just a thought. FEED BACK PLEASE.

Depends on what the value of the currency was when your travel began... If there was a huge RV prior to departure then you would be required to declare those funds with the US Customs prior to landing in the foreign destination. It's a standard form I have had to fill out numerous times... Obviously it is not an automatic that it would even be noticed...

But if for some reason that it is noticed, failure to comply can possibly end up with confiscation of the funds that were being carried. That is what happened to Rick Tocchet (NHL coach) when he went to the Caribbean with $18,000 without declaring it - but he also denied it after being asked as well...

The question probably comes down to would you rather have the the peace of mind of knowing all is good, or wonder whether what you carry could be subject to forfeiture depending on the laws of the nation that you are travelling through/to.

[Shick]

It would be easier to do right, be right, think right, act right it all comes out right. Peace! In the Middle East.

[skitealwedrop]

File a return and pay your taxes. Don't get twisted with the IRS. I guarantee you that your greed will come back to haunt you. I'm an accounting nerd that works in the trenches. I have seen some horror stories. Be safe and play by the rules.

[lomeygoat]

I like it - Banks will take your IQD - offer you anonymous Visa/MC cards that you draw your own funds with anywhere in the world.

The High Limit Anonymous Visa & MasterCard – The cards have just the corporate name on them and in the magnetic strip. The cards are tied to your corporate bank account. The cards are loaded from your bank account online. You can load $10,000 per day onto the card and take cash out of ATM or make purchases. The daily limit is $10,000 per day in ATM cash pulls and purchases combines, per card. You can take out $10,000 on monday morning. Monday afternoon load in another $10,000 which will be available the next day. Card loads take overnight. You cannot load more than $10,000 a day to the card. This is the highest cash limit card we know of. The cards will have the Visa or MasterCard logo on them. They will work all over the world where the Visa or MasterCard logo is displayed.

Magic Kingdom Card

That also sounds good to me....

[The Machine]

found this site .... link below, it shows all the high flyer cards and their benefits

http://www.hottnez.com/exclusive-credit-cards-with-sky-high-limits/

[rocking/chair]

Guys thanks again for your input.

Talked to a friend in Fla that has a sister overseas and this is what he did.

He travels alot so he is there several times a year. Sent 2 mill in small denominations so easyer to exchange.

Now this guy has another 12 mil here and is happy to pay taxs on but he feels that if the dinar is in another country before RV

and he exchanges it as he travels he is within his rights.You can only exchange so much at a time depending on what country you are in.

Your input on this.

[Captjohn]

I like it - Banks will take your IQD - offer you anonymous Visa/MC cards that you draw your own funds with anywhere in the world.

The High Limit Anonymous Visa & MasterCard – The cards have just the corporate name on them and in the magnetic strip. The cards are tied to your corporate bank account. The cards are loaded from your bank account online. You can load $10,000 per day onto the card and take cash out of ATM or make purchases. The daily limit is $10,000 per day in ATM cash pulls and purchases combines, per card. You can take out $10,000 on monday morning. Monday afternoon load in another $10,000 which will be available the next day. Card loads take overnight. You cannot load more than $10,000 a day to the card. This is the highest cash limit card we know of. The cards will have the Visa or MasterCard logo on them. They will work all over the world where the Visa or MasterCard logo is displayed.

Magic Kingdom Card

As the Feds are reading this and other like posts, I would guess that they will dismantle this ability before too long. Your money is NOT for you to enjoy; it's to be taxed so that this administration can feed a bloated, entitlement state. After all, don't you want to be "fair" (read, redistribution of YOUR income)? Lol.