Saturday Afternoon Guru Opinions @ 5:50 PM EST - 6/15/2019

[ronscarpa]

6-15-2019   Newshound Guru Breitling  ...Obviously there's a lot of drama going on in the Gulf of Amman.  People are concerned...How is this going to effect our investment...?  The timing of the Iraqi dinar?  The economy in general?  ...if the Price Per Barrel goes up then Iraq is not going to be as motivated to add value to their currency.  But the price keeps going down because of the United States.  They [Iraq] are going to be forced to [add value to the currency]...Let's say the value of oil goes up...Iraq knows it's not going to be able to do that forever.  So no matter what they are going to change the value of their currency.  They have to...If you look at the value of their currency it doesn't match with the oil markets...(Post 1 of 3)... 

6-15-2019  Newshound Guru Breitling   ...It doesn't match with the production.  So you have the production going up but the value of their currency going down?  The value of oil is based on the U.S. dollar...so obviously it's manipulated.  If 90% of your country's money that's coming in from trade is from oil and everyone is killing it in the energy markets then that is a manipulation...if you're attaching the value of the price per barrel to the dollar and supposedly the Iraqi dinar is pegged by the US dollar this tells you it's manipulated...(Post 2 of 3)... 

 

6-15-2019   Newshound Guru Breitling    ...the worst case scenario...we attack Iran and it spills a little bit over into Iraq.  Iraq is the proxy between Iran and Saudi Arabia...The Iraqi dinar has been so manipulated and it's so far down that they could still add value to it.  They could add 10 cents to it...20 cents to it and no one would blink.  It would be a huge positive thing for the economy.  It would be no threat at all...I don't see an apocalyptic threat to the Iraqi dinar in this situation...(Post 3 of 3)... 

 

 

 

6-15 -2019  Guest Guru BobTheTaxMan  ...Let's say you want to donate some dinar to a charitable organization.  When you acquired the dinar doesn't matter to the IRS.  They don't care.  Because when you give the dinar to your 501-c3 charity and they go to exchange it the only thing that's going to matter is the value of the exchange and what you report on your schedule A. They don't care when you got it... [Note: speak to your tax and financial professional at the appropriate time.]

 

[ronscarpa]

Midnight Post

 

6-15-2019   Newshound Guru Breitling   ...I don't see anything to worry about.  In the worst case scenario they could still add value to their currency because it's so manipulated.  It's almost a crime because...the people at the top are making money with the U.S. dollar.  The people at the bottom are using the Iraqi dinar.  Who has the power there?  So you understand the power structure in Iraq.  It's that simple.  A lot of you would say, 'Why would someone change that?  Why do we have their currency?'  Because they have no intent to keep it like that.  They've said it over and over again.  In fact the Financial Management Bill is proof of all that...what they need to do is build a permanent structure so they can have full blown trade.  The reason why the US is wealthy is because we've opened up all the trade routes on the planet...for Iraq to do that they need to add value to their currency.  That is their ultimate goal.  But it's tough doing.  You just don't get into it...I have complete confidence.