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Latest Guru Opinions - Monday - 8/27/2018


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A Fairly Good Number of Posts for Today...! :) RON

 

8-27-2018   Newshound Guru Walkingstick  [If they fall out of 2% compliance do they have to go another 90 Days?]   No...In a nut shell...It is an issue.  [Guru] Deltas response is accurate, due.. to the fact, the 2% compliance can easily spiral out of control... due to the CBI's continued use of the auction, as a tool/ their limitation of use of the tools available, that can be utilized to reel in or maintain the +/- 2% compliance...  [reference Guru Delta's post 8-27-2018]

8-27-2018   Intel Guru Delta   FROM CBI WEBSITE...IQD EXCHANGE RATE IN IRAQI MARKET...27-Aug...1212...1207...IN THE BORDER...BUT STILL OK ...CBI HAVE TO MAKE A MOVE ASA.  
[Side Note:  You can always see the CBI official dinar exchange rate and the CBI reported market rate of the dinar on the CBI.iq site.]

8-27-2018   Newshound Guru Kaperoni   So on Sunday the CBI started the auctions again. The media is reporting a market rate of 1210 to $1.  This is still within compliance if correct. 
[Side Note:  You can always see the CBI official dinar exchange rate and the CBI reported market rate of the dinar on the CBI.iq site.]


8-27-2018   Newshound/Intel Guru Mnt Goat   I have just talked to the CBI and I can assure you the reinstatement and RV is not happening next week. They still have to complete a massive re-education campaign for the citizens and this has not yet begun. In fact, they could not even give me a target date yet for it. ...We must first wait for this ongoing election sage to settle down.

 

 


8-27-2018   Newshound Guru Bloodloch    Keeping Score:  The four alliances attending meeting -- Saron (Sadr), Victory (Abadi), Wisdom (Hakim), and National (Allawi) -- total 136 seats in the new parliament. The hosting alliance -- Kurdistan Democratic Party (Barzani) -- has 25 seats in their pocket, for a total of 161 seats should these five alliances join forces. Only 4 more seats needed to win, from either of the two remaining big blocs -- Decision Alliance (Sunni - 14 seats) or Patriotic Union of Kurdistan (PUK - 18 seats) -- or some combination of other small 1 to 6 seat alliances floating around. 

8-27-2018   Newshound Guru Bloodloch   Left out of the mix and likely out of any significant decision-making authority in the formation of the new government -- Conquest Alliance (Iranian Proxy al-Ameri - 48 seats) and State of Law (former Prime Minister Maliki - 25 seats

 



8-27-2018  Guest Guru BobTheTaxMan  We have people sending in inquiries about 988…I’ve researched that heavily.  IRS Code 988.  It really boils down to simplicity of things ok?  First of all 988 covers a multiple of things. The only way it can be interpreted the way to serve capital gains is incidental…As long as you’re holding dinar as a investment you do not have a set time that you are going to evaluate the value of it.   You don’t.  You’re hanging onto it.  Therefore it will not be considered capital gains because you do not have a purchase date, start date, end date.  It is strictly ordinary income.    {IMPORTANT NOTE: Anything you read here is for informational purposes ONLY and not financial advice.  At the appropriate time speak to 6 financial and tax advisers and select the ones you feel are the best fit for your situation.}

8-27-2018  Guest Guru BobTheTaxMan  ...988 when they talk about any kind of capital gains…it is in reference to an incidental for travel for the most part or if there is a bank transaction…and there’s a little bit of currency exchange at that point in time.  It’s still a fixed date in time and that does have some kind of implement to capital gains.  But NOT over $200.  It’s not something that’s for us as holding the money, investors that this is going to be applicable to.  It does not matter.  So anyone who brings up 988…don’t pay any attention to it.  It doesn’t make any difference.  It’s already been tested and gone over for years now...    
{IMPORTANT NOTE: Anything you read here is for informational purposes ONLY and not financial advice.  At the appropriate time speak to 6 financial and tax advisers and select the ones you feel are the best fit for your situation.}

8-27-2018  Guest Guru BobTheTaxMan  ...The second one we have to do is called IRS code 1256.  It has to do with people who are specifically in the FOREX trading world...You bought something and you’re going ot sell it.  That’s the whole purpose, welcome to the world of FOREX…One of the things that it does offer is 60% of the gain will be treated as long term capital gains and 40% will be treated as short term…also known as ordinary income.  That is what’s so attractive to it.  BUT you actually have to be in the FOREX trading world in order for that to be applicable to you.  It’s not applicable.  Are these the only options available?  Yep, pretty much…Quite frankly I don’t want to get involved with the IRS and have them breathing down my neck and neither do you.  Let’s just stick to the rules…there are other way to go about this to make it non-taxable... 
{IMPORTANT NOTE: Anything you read here is for informational purposes ONLY and not financial advice.  At the appropriate time speak to 6 financial and tax advisers and select the ones you feel are the best fit for your situation.}

 

 


2-27-2018  Newshound Guru Kaperoni   Iran is pumping fake dinar into the market to lower the dinar exchange rate in hopes the CBI then pumps more dollars (which they can smuggle back to Iran).  This is similar to what was done in 2013. None of the numbers in the media are official but the CBI does have to provide a sworn quarterly report that includes daily market rates to the IMF so they will eventually know.  Starting over to meet compliance is something none of us want to see but may be a reality…The 2% spread is calculated by the IMF using the following formula Official Rate + commissions x .02 = 1214 or less. There are numerous IMF documents over the years that report the spread that can be used to determine this formula…   

8-27-2018   Newshound Guru Kaperoni   Still no consensus by the political parties on the largest Bloc to despite advertising in the media that they would have it done... I believe they're still about 30 seats short. 

 

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