Stryker Blog 2.3.2015 The CBI is ready to Revalue the Dinar

[rdaywillcome]

Thank you Vietnam 69!  Your post was really well written! 

[dontlop]

It says strykers blog on the top of the post

[AJC]

Sounds impressive. If this is true, things are looking GREAT !!!!!

[tankdude]

It is not a capital gain but net income when reporting your taxes folks.

Please remind me, because I have trouble remembering from time to time. What is the benefit of having this be " net income " verses " capital gains " . I know it's a tax thing, and that this article says if true this tax should be around what 15-20%? Verses 30-60%.? Someone plz clarify for me, that's all folks.

Vietnam1969: Thanks for your service to this country and let me brag on you for the excellent research you did on this article. Atta boys and Hoo rahs to you.

I hope I clear up a little confusion. I'm not a tax expert - by any means. This is what I've found from personal research -

 

There really is no benefit to it being net income.  I'm guessing that when this event occurs, it's going to put most of us (being conservative here) into that >$413,200 if single or >$464,850 married filing jointly income bracket.  That would mean a tax rate of 39.60%.

 

If the long term capital gains tax was able to be applied, for the same amounts, it would be 20%.

 

http://www.schwab.com/public/schwab/nn/articles/Taxes-Whats-New

 

So - if your aren't VIP/OSI - between federal and state taxes, depending on the state you live in - expect an effective tax rate of between 40% - 53% - possibly more.

 

https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/States-with-the-Highest-and-Lowest-Taxes/INF23232.html

[unirod]

The tax is only applied on what I decide to exchange and when I decide to exchange. And the best part is; how much I decide to exchange. I may temporarily look to relocate to a State with low or no state income tax, further reducing my tax obligation.

[Tripphood]

This sounds like possibly the best thing I've ever read pertaining to the value of the dinar rising. Vietnam, thank you for sharing this with us. I am officially EXCITED!!!

[Texstorm]

I had to read this blog twice and let it sink in for a while before I commented ......Hot Damn I'm stoked !....... Let it be true oh Lord....let it be true   Thanks for bringing this article over Vietnam1969.

[George Hayduke]

The tax is only applied on what I decide to exchange and when I decide to exchange. And the best part is; how much I decide to exchange. I may temporarily look to relocate to a State with low or no state income tax, further reducing my tax obligation.

 

 

Very true and wise.  And... if there is not a time limit to cash in the Dinar, it will retain it's value whether it is in my safe or the banks safe, the only difference being taxes or course.  It wouldn't surprise me if an underground Dinar economy develops for small purchases here is the US.  Ranchers and hay growers have been engaged in this type of 'under the table' business for years. 

[TrinityeXchange]

this is an interesting read of stryker's blog post.  and although i enjoyed what stryker brings to the dinar community (and miss him his insights here at dv), i have issues with the interpretation of the core information the theory is comprised from:

 

QUOTE: Bank submit a written application to the Directorate General of investments which enhance the tally required to have correspondents in overseas facilities with a copy of the entry to strengthen the balance of his account in Iraqi dinars from type 216, equivalent to the amount to be converted

i am not saying i am right but i think the way this information is interpreted might be quite a stretch and here is why,  the cbi is doing nothing more than simplifying the auction process.  the new regulations requires banks, participating in the auction, to send an application to the DGI at least 15 days prior to the purchase of foreign currency (usd).  the amount that the applying bank desires to trade for must be present in its account's balance in the form of IQD and it must be at least equivalent to the amount of foreign currency being traded for.  and the "type 216" i do not believe is an american banking term:

 

Type: Banking Circular 216. BC 216 is sent out from the Comptroller of the Currency Administrator of National Banks for the subject matter: Securities Denominated in Foreign Currencies.

the type 216 apparently is understood in the financial sector of iraq but i highly doubt that it is the banking circular #216 noticing all national banks in the united states.  although it is a strong coincidence that both financial sectors will use the term 216, i don't believe they are mutual.  the reason i say this is because this notice is expressly instructing US banks on providing intermediary services  that involve securities denominated in foreign currencies.  this can't involve the CBI because this is a US comptroller notification to US banks.  additionally, the iraqi dinar is NOT a security.  it is currency.  a security and currency are entirely different instruments.  a security evidences that the holder has some right, ownership or relationship to something provided by an issuer.  the security is a fungible instrument.  the united states comptroller of the currency's 216 notification was simply informing banks to be aware of the implications when they deal in securities (bonds, stocks, notes, real estate paper, et al.) that is denominated in foreign currency.  they have to be aware that foreign currency exchange rates are subject to change and can do so drastically depending on the country.  this might adversely affect their accounting books for taxing purposes.  

 

as much as i am excited about the possibilities iraq present us, i have to make sure i keep a level and clear mind when processing the risks.  i could be wrong in my assessment but at this point i don't think this is the message that the CBI is presenting.  i believe the CBI, and as they told us previously about changing the auction process, is simply lessening their administrative effort in the auction system.  they are making the banks ramp up their efforts instead.  

 

please take my response the right way.  i appreciate all of the hard work that has gone into this.  iron sharpens iron.  where i am wrong, please offer insight.  

 

be blessed!

Edited February 5, 2015 by TrinityeXchange

[George Hayduke]

Thanks Trinity, for another possibility.  I don't see how anybody would take it the wrong way.  You might want to shoot a copy over to Stryker to get his take on it.

 

Thanks again. 

[jcfrag]

I'm with Trinity. They currently seem to be buried in updating and writing new policy as in the rivers run deep and the under currents are invisible to the eye. I am just happy to see Shabs as part of this mess as there is apparently much to straighten out. Other side of that coin is they are indeed moving at lightning speed. Outside observers catch bits and pieces of what is going on over there and try to make heads or tails of it. I'm just going to sit back and wait for the text from Adam. That was the best deal for the money all by itself!!

[gamaray]

Stryker Blog 2.3.2015

 

Yea THANKS VN for bring a blog not WRITTEN by you yet letting all these people here give you a pat on the back ....... if they realized it was Stryker that wrote it they would be bashing him!! YEA really GREAT JOB!! 

[carolinadukegirl]

My dinars were given to me by my brother-in-law as a gift.  At the time 250,000 dinars were worth a little less than $300.  I've been told by several accountants that when the dinar does RV that I will owe taxes on the capital gains from the exchange.  It will not be considered net income since I never put anything into them in the first place.

[MyLadiesDaddy]

Stryker Blog 2.3.2015 Yea THANKS VN for bring a blog not WRITTEN by you yet letting all these people here give you a pat on the back ....... if they realized it was Stryker that wrote it they would be bashing him!! YEA really GREAT JOB!! 

LOL, somebody got their feelers hurt.

[caz1104]

AC says that "no more dinar leaving the country". he just sent out a video explaining

[gamaray]

LOL, somebody got their feelers hurt.

nope I left no feeling here to get hurt..........too bad yours did over at his site!!! LOL

[Monielynn]

Sounds like ur being a total Douch_Bag and got ur panties in a bunch! "Reading skills" are very important BABE! Not once did Nam1969 say THANKS or TAKE CREDIT for bringing another article over...did he(or did I miss something)?  INFACT it's Clear as day Stryker Blog 2.3.2015. My apologies for Nam1969 that you read an article and got excited only to re_read it and realize someone else wrote it and was disappointed. SAD to be You HUH! LMFAO if ONLY U had "Reading Skills" U would have not wasted your time on another useless article. HAHAHAHAHAHAHAHAH =))~

[caz1104]

Monielynn,

 

u are correct! It was others that assumed/thought Nam1969 was the origin of the post. Nam1969 at no point referenced himself.  No harm no fowl except for someone who like the members mentioned accidently misread.

[MyLadiesDaddy]

nope I left no feeling here to get hurt..........too bad yours did over at his site!!! LOL

COMMON Stryker, show some cahonnas and post under your real name. LOL

[ReinMan]

If they were ready and ALLOWED to RV, it would've happened already!

 

So uuuuuuuuuuhhhh what's the hold-up?

 

The budget?

Madame Wu?

Obama?

HCL?

GOI squabbling?

 

THE FACT THAT THE COUNTRY IS OCCUPIED BY FARKING TERRORISTS?

[vietnam1969]

Stryker Blog 2.3.2015

 

Yea THANKS VN for bring a blog not WRITTEN by you yet letting all these people here give you a pat on the back ....... if they realized it was Stryker that wrote it they would be bashing him!! YEA really GREAT JOB!! 

 Let me clarify something for you. I found what I considered a very interesting article and posted it here in the forums. I DID NOT say that I wrote it and I surely didn't try to mislead anyone into believing that I did.  One of our well known mods in DV discussed this with me and he was the one who put the name of this source at the top of the article. ( thank you Markinsa, btw).  For those of you who know me well, you know that I am not that wise to write such an article. IT IS A GREAT REPORT SO I PUT IT OUT FOR OTHERS TO READ AND FROM THE LOOKS OF THE VIEWERS IT WAS WORTH IT.  

[blitzer]

So, LDG, you slam on Stryler for using a fake ID instead of his real name.  So,,,,in your opinion that means Adam Montana also has no cajones, and of course, you yourself as well, because surely, your REAL name is not Lady Graces Dady.  We ALLLLL use screen names, WTF?!?!?!?

 

And it plainly stated, at the top of the post that this blog was from Stryker.  vietnam 1969 never stated that he was the author.

 

and now, for the main reason I am making any comment at all.  lol

 

This BC 216 thing has not a damn thing to do with any country's Central bank or national banks, EXCEPT for the USA.  And the info that Styker got on this whole rule, is in fact, from the USA government, but it is from September 11 of 1986!!!  This is NOT big breaking news for Iraq, lol, this was important for the FED, and US banks in the US ONLY.  Nothing to do with Iraq.

 

I'm gonna try to post the link here, to the document he refers to:  http://www.occ.gov/static/news-issuances/bulletins/pre-1994/banking-circulars/bc-1986-216.pdf

 

I don't know if the link will actually 'go through' this site's filters or not; but if it doesn't, all anyone has to do, is go to your favorite search engine and put in:

 

BC 216 Banking Issuance

 

This will take you straight to the link I have attempted to add in here.   And it is exactly what Stryker was referring to.  The mistake is that this doesn't have anything to do with anyone but the USA.

 

This is US ONLY, doesn't have anything to do with any other country's Central Bank.  And it only pertains to what, how and why US banks, will deal with, and report transactions and any profits from dealing with foreign securities.  PERIOD.

 

No relation to any country's potential of an RV, RI, LOP, or demonetization.

 

I am further surprised that anyone would believe that our FED could have any control over another soverign nations Central Bank.  Come on people, lol, I will buy into most conspiracies, lol, but this one is toooo much.  I spent 25 years in Special Ops, but the US is NOT that damn big of a player.  NO one Central Bank is.  The closest that ANY Central Bank in the world is to this ability, is the Central Bank of the EU, because they can 'strongly suggest' to member nations, what they set for a value of their own currency in relation to the Euro.  But they are the only one with that kind of 'godlike' power.

 

Every other Central Bank controlls only its own country's currency.  Just as the FED tells our banks and our government what the value of the USD is at.  Or at least, lol, what to try and set it at, the world markets still have their own impact of course.

 

And Vietnam 1969,  Thank you for your service!!!!

[umbertino]

Quote

THE FACT THAT THE COUNTRY IS OCCUPIED BY FARKING TERRORISTS?

End Quote

 Let me think about it for a sec.....Mosul, second largest City, steadily occupied  by ISIS... Hmmm.. I say yes.. That counts as a hold-up

 

Maybe Jordan will do us all a HUGE favor and sweep the MF's away for good......

 

Edited February 7, 2015 by umbertino

[vietnam1969]

And Vietnam 1969,  Thank you for your service!!!! 

 

There ARE MANY VETS  in here to thank Blitz so I will say you are welcome from me and the others. It is always good to hear that, even though a lot of us are getting up in age now but it is very much appreciated.        

Edited February 7, 2015 by vietnam1969

[almostcajun]

Great article vietnam 1969. Thanks for bringing it into this site. 

I'm a vet myself. USAF 1966 - 1970 

Thanks for your service. 

Go RVVVVVVVVVVVVVVVVVVV